From Deseret News archives:
Clearfield approves $150 million development
City to raise $22 million in bonds to help fund the project
The council then voted unanimously to approve the development agreement that details the city's and Myler's responsibilities for the project. The 75-page development agreement gives Myler the ability to seek financial backers to fund the project's construction.
Until now, the city and Myler have had a "gentlemen's agreement" about how to proceed.
"Now it's official," Myler said Thursday.
Myler is nearing completion on a similar development in Orem, called Midtown Village-Orem, which began three years ago.
Midtown Village at Legend Hills, to be located at the intersection of State Route 193 and University Park Boulevard, will soon break ground, just 10 months after Clearfield city manager Chris Hillman and Mayor Don Wood introduced themselves to Myler.
Hillman hopes the development agreement becomes the model for public-private partnerships between Midtown Village and other cities in the future. He said Orem paved the way for a smooth development agreement in Clearfield by serving as a test case.
Clearfield will help raise $22 million in bonds for the Legend Hills project, which Myler will pay off in three phases, Hillman said. As Myler sells condominiums, he will pay off Clearfield's debt.
"We feel, as a city, that this is a win-win situation," Hillman said.
A model of the 1.2 million-square-foot Midtown Village at Legend Hills is on display at Clearfield City Hall and is designed as one U-shaped, eight-story building.
It's expected to feature 250,000 square feet of office and retail space, as well as the theater, condominiums and other amenities to let residents live, shop, work and play in the same area.
"It will remake the Davis County skyline," Hillman said.
E-mail: jdougherty@desnews.com
Comments
- Everton seeks Donovan on loan 7:27 a.m.
- Debating Wall Street regulations 7:26 a.m.
- Text of Obama's Nobel speech 7:07 a.m.
- Stock futures hold on to gains 7:05 a.m.
- Obama defends wars, accepts Nobel 7:04 a.m.
- Oct. trade deficit drops to $32.9B 7:02 a.m.
- Grizzlies lend forward to AHL team 2:06 a.m.
- Basic Sports Training clinic Saturday 2:06 a.m.
- Tony Finau reaches Big Break finale 2:05 a.m.
- Chicken-lovers dance for free food 2:02 a.m.
- Hot Rod behind mic for Lakers
- Panel passes BCS playoff bill
- Crash landing next to I-15
- Max Hall wants to look ahead
- Palin signs books, chats with fans
- Psychologist: Mitchell schizophrenic
- Cougars use depth to beat ASU
- Non-BCS schools not given fair shot
- Jazz go up against 'the best'
- Many seek to wipe clean misdeeds
- Letters: Global warming a lie
230 - TCU to play Boise in Fiesta Bowl
206 - BYU football: Bronco weighs in on Hall
184 - Cougars going back to Vegas
150 - Utah/BYU rivalry can be more civil
147 - Andersen apologizes for Jordan hoax
138 - Max Hall wants to look ahead
120 - Revive full food tax?
100 - Palin signs books, chats with fans
97 - Yet again, we learn BCS is a big joke
94
Love him or hate him, Utah Sen. Orrin Hatch knows how to get attention.
My wife Lisa and I would prefer never to argue. But that's not going to...
For the latest news in the health care debate and how it affects you...
It's time to look at the spirt of the law not the letter. Toddlers have no...
Inconvenient how those scientists kept their emails exposing how they...
I beg to differ, roundabouts are wonderful creations and they work really...
It was the Democrats, along with a few moderate and liberal Republicans, who...
That is an awfully silly argument. The story of Adam and Eve was simply an...
I feel that those of you who are so critical have nothing to do in life....
Christmas isn't the only holiday celebrated at this time of year. "Happy...
If you don't see the appeal in Sarah Palin, perhaps you're a bit too isolated...
Man!! That is typical of Big 5 games!! Anyone outsde the Philly area would...
Play Koufos. I repeat, Play Koufos.I repeat, Play Koufos.I repeat, Play...




You can be the first to comment on this story.