Funds from Jordan District sought for soccer deal

Sandy's $15M includes tax dollars from schools

Published: Wednesday, Aug. 23, 2006 10:18 p.m. MDT
 |  E-MAIL | PRINT | FONT + - 
Jordan School District could be the trump card in a plan to pay for a major-league soccer stadium in Sandy.

The $15 million that Sandy is expected to give to Real Salt Lake may include a hefty chunk of the district's share of property-tax dollars. The city is asking Jordan to give those dollars to the team.

District, city and team officials plan to meet in October to discuss those figures, but it's up to Jordan whether or not they want to opt in.

Earlier this month, the Salt Lake County Council approved a funding plan to give Real Salt Lake $55 million in public subsidies for the $180 million stadium and an adjoining hotel and broadcast studio. Part of those public dollars includes $15 million in Redevelopment Agency funds from Sandy — money the south-valley suburb may not be able to fully produce without help from the district.

Randy Sant, Sandy's economic development director, approached the Jordan Board of Education this week, saying Sandy was hammering out stadium financing details and would be back in touch in 30 to 45 days, said Burke Jolley, Jordan District deputy superintendent who oversees business services.

"There's a few dollars out there the district will be asked to provide," Jolley said, "and nobody's really asked us or informed us or shared with us what the plan was."

Sant said the $15 million in Redevelopment Agency funds would work only if each taxing entity gave a green light, two school-board members said Wednesday. Sandy city officials did not return calls for comment on Wednesday.

Redevelopment Agency (RDA) dollars are tools that cities use to spur economic development. Various taxing entities, like school districts, forgo their share of property-tax dollars for a length of time so that money can be diverted into a redevelopment project.

The Jordan Board of Education has been clear in its aversion to giving up its money for RDA projects in recent years.

Sandy, however, plans to use a new track of recent RDA legislation to give the team the millions promised. That track, community-development area (CDA) money, only uses the city and county's cut of property taxes.

But taxing entities like Jordan School District can say whether they want to participate.

If that's the case, Jordan District could hold the upper hand on whether the stadium is built, should a proposed financing plan include them. Jolley said considering the district's tax base, it could be asked to fund 55 percent to 60 percent of the $15 million, or up to $9 million. There is no formal proposal yet before the school board.

Salt Lake County Mayor Peter Corroon said he has seen a funding spreadsheet that includes money from a five-year bond through Jordan School District. But that is not an official proposal.

Comments

You can be the first to comment on this story.

previousnext

Latest comments

"Hermione Granger (Emma Watson): .... And she's come to have certain feelings...

Stadium of Smoke - cough, wheeze, cough!

Farming for the needy

There is so much more to Dave than ever could be told. We've know him as the...

Utah's lessons for California

A very realistic, fair assessment D-News. Well done.

California is the poster child of how too many social programs and unions can...

Utah man to serve 4 years for fraud

This is normal in the business world, take out several loans on the same...

It is a well know fact that the need for meaningful service practically never...

Americans advanced across a relatively unexploited landscape, and logged old...

Kill hate-crimes bill

My apologies in advance for the violent example I use to make my point below....

It feels like I'm living in the twilight zone. Global warming when the...

Advertisements