From Deseret News archives:
Tax money sought for hotel
Pleasant Grove seeks county help for the complex
The city is purchasing 37 acres of land to give to John Q. Hammons Hotels and Resorts, which has proposed building a hotel and a convention center on the property. Plans for restaurants, a corporate center and an auto mall have been made for an additional 13-acre parcel of land that will be part of the project.
"The (project) would be in a caliber slightly different than that which is currently available in the valley," said Pleasant Grove Mayor Mike Daniels, who compared the proposed hotels to the Grand America in Salt Lake City.
"This isn't your pull up, roll up, roll out your carpet (event)," he said. "This is a sit-down dinner with 2,700 of your closest friends."
City officials, who offered the land to the resort-builder as an incentive for choosing Pleasant Grove as the site of the project, proposed entering an interlocal agreement with the county that would return a portion of taxes generated by the convention center to be located by the Pleasant Grove interchange off of exit 275 on I-15 and surrounding businesses to the city. The taxes would help pay off a bond issuance that will cost about $35 million over 25 years.
"The justification is there are going to be many, many other restaurants coming to that intersection on the other three quadrants (of the project)," said Richard Bradford, Pleasant Grove economic development director. "Rather than anticipate what those collections would be, the item being negotiated is they would just have a flat amount."
The proposed agreement requests a flat figure of $50,000 from the county for car rental tax and all of the property tax increment from the county's share of the project area tax from 2008 to 2031.
All totaled, the city is looking to get about $18 million from the county. Pleasant Grove has forged a tax agreement with the Alpine School District that garners the city $8 million over the lifespan of the bond. Pleasant Grove plans to contribute about $13.5 million to the bond.
"We think our proposal is fairly straightforward," Daniels said.
Comments
- Soccer MVPs know how to win 1:56 a.m.
- Alta's Ohai is Ms. Soccer 2009 1:56 a.m.
- High school soccer: Past MVPs 1:37 a.m.
- Senators want food tax restored 1:27 a.m.
- Utah women lag in higher education 1:16 a.m.
- Hatch empathizes with Muslims 1:14 a.m.
- Matheson gets no thanks from GOP 1:13 a.m.
- Mitchell seeks to block witnesses 1:12 a.m.
- Party insiders may take on Bennett 1:11 a.m.
- Input sought on nondiscrimination 1:11 a.m.
- TCU showdown has big implications
- Seniors helped BYU regroup
- Lambert surprisingly tops news
- Hope for single moms
- Bystanders framed for child porn
- Korver and Miles to be evaluated
- Soccer MVPs know how to win
- Utah Jazz Extra: Whose hot/not
- Matheson gets no thanks from GOP
- Newhouse Hotel, an explosive end
- House passes health care bill
228 - TCU showdown has big implications
183 - Lobo suspended
182 - Cougars crush hapless Cowboys
154 - Utah Jazz fall apart against Kings
131 - TCU 4th in AP poll; U. 16th, Y. 22nd
118 - Thousands protest health bill
114 - RSL rallies to advance
103 - No 'backlash' for pioneers, gays analogy
97 - Utes pound winless Lobos
89
Meghan McCain, the daughter of former presidential candidate John...
Why do so many people live so close to refineries in Utah and elsewhere?
Sounds like a good option if you can't or won't switch to AT&T for the...
I worked with and around Bill Sederburg for 5 years while he was at...
hand. He needs to work on his moves to the basket and rebounding. Lateral...
play Fez or Koufos tonight. He went with a smaller line up and Boozer, Okur...
I've met Bennett before and he is a nice man. He also knows the Constitution...
That's never been a secret. Everyone will pay for it except those that don't...
I agree with NonMormon. I am active LDS, and I enjoy Ash's articles, and I...
I kept saying don't resign Milsap, especially after Portland offered that...
BYU is the slowest team that has ever been in the top 25. Utah will put up a...
i think u have the cowboys ranked too low! at least an A- LOL nice work!


You can be the first to comment on this story.