From Deseret News archives:
Schools OK tax incentives now to reap cash later
Without the approval of the Provo Board of Education, the developer would not be planning to break ground next month for the office tower at 196 N. University Ave.
A new twist in Utah redevelopment law requires school boards to approve projects to effectively to become partners in them before cities can give property tax incentives to developers.
Since the Legislature changed the law last year, school boards have proved willing to give up millions of dollars in the short term in exchange for a future windfall. Essentially, they are making investments that help developers improve properties that then will generate millions more in property taxes for school districts and, therefore, Utah schoolchildren.
Those decisions pleased lawmakers who crafted the new law forcing cities, absent a finding of blight, to get school board permission before giving incentives to a redevelopment project. The new partnerships are called Community Development Areas.
"In the past, school districts were at the mercy of cities," said Sen. Curt Bramble, R-Provo. "We wanted to give them power to say no, but we also expect them to look at projects and expect them to be reasonable.
"The school boards so far seem to have been willing to weigh the proposals and have taken a reasonable, professional approach."
They're also asking tough questions.
"They are tough," Provo Mayor Lewis Billings said of the Provo school board. "It's like having a second City Council."
"They scrubbed us down pretty good," PEG Development president Cameron Gunther said.
Recent comments
John Dougall,
I generally agree with your comment.
However,...
lifer | Oct. 2, 2007 at 10:36 a.m.
Utah law should be changed so that school districts that lie in one...
Utah Man | Oct. 2, 2007 at 8:40 a.m.
If a project makes sense, then developers will do it. There is no...
John Dougall | Oct. 2, 2007 at 12:26 a.m.
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