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Redevelopment Agency Board

August 18, 2026 Final
Agenda PDF Official record ↗

Agenda — 4 items

  1. <span style="margin-left:0in;">RESOLUTION - A Resolution of the Redevelopment Agency of Eagle Mountain City, Utah, Approving an Interlocal Cooperation Agreement between the Eagle Mountain Redevelopment Agency and Eagle Mountain City for the Collection and Remittance of Incremental Property Taxes Collected from Property Within the Mid-Valley Community Reinvestment Project Area.BACKGROUND: (Presented by Director of Legislative and Strategic Affairs, Evan Berrett) The Mid-Valley CRA covers approximately 53 acres currently under review for commercial retail development. This interlocal agreement specifies the City's involvement in providing tax increment financing for the off-site project improvements and other necessary administrative procedures, terms, and so forth.
  2. <span style="margin-left:0in;">RESOLUTION - A Resolution of the Redevelopment Agency of Eagle Mountain City, Utah, Approving the Mid-Valley CRA Participation Agreement between the Redevelopment Agency of Eagle Mountain City, Eagle Mountain City, and Terra Smith's Eagle Mountain, LLC.BACKGROUND: (Presented by Director of Legislative and Strategic Affairs, Evan Berrett) The Mid-Valley CRA covers approximately 53 acres currently under review for commercial retail development. The proposed resolution sets terms and conditions for the distribution and use of project area funds and satisfies any other obligations any or all parties participating in the Mid-Valley CRA have agreed to through negotiations.
  3. <span style="margin-left:0in;">RESOLUTION/PUBLIC HEARING - A Resolution of the Redevelopment Agency of Eagle Mountain City, Utah, Adopting the Official Project Area Budget for the Mid-Valley Community Reinvestment Project Area.</span><br><br><span style="margin-left:0in;"><span style="margin-left:0in;">BACKGROUND: <em>(Presented by Director of Legislative and Strategic Affairs, Evan Berrett) </em><span style="margin-left:0in;">The Project Area budget has been assembled based on the outcomes of negotiations aimed at ensuring the successful development of a large commercial/retail area within the city. The budget assumes use of a TIF arrangement using sales tax revenues, with 55% of new tax revenues paying down a TIF Bond which will be utilized to complete negotiated off-site infrastructure improvements. The budget also reflects a conclusion of incentives after 20 years or fewer which starts at the completion of the first building.
  4. <span style="margin-left:0in;">RESOLUTION/PUBLIC HEARING - A Resolution of the Redevelopment Agency of Eagle Mountain City, Utah, Adopting the Official Project Area Plan for the Mid-Valley Community Reinvestment Project Area. </span><br><br><span style="margin-left:0in;">BACKGROUND: <em>(Presented by Director of Legislative and Strategic Affairs, Evan Berrett) </em><span style="margin-left:0in;">The proposed resolution will allow for the approval of the Mid-Valley Community Reinvestment Project Area Plan. This Plan is the end result of a comprehensive evaluation of the intended development plans and guides and controls the community reinvestment activities within the Project Area. The Plan is intended to define the method and means of the Project Area from its current state to a higher and better use.

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