From Deseret News archives:
Is block blight or just tired?
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"I think the city is trying very hard to do the best it can for downtown," Feller said.
Glauser said the city has no agreements with developers yet, but local businessmen say there is talk Zions Bank might purchase the land and develop it.
"If Zions Bank were to develop on the land," Stout said, "they would hopefully make space for retail stores that would include those of us currently doing business on this block."
RDAs use property tax money to finance revitalization. The idea is that new or improved buildings draw more businesses, or a mix of businesses and apartments as in the Wells Fargo Building, and generate much more property tax revenue. Cities lure developers by promising them a rebate on those newly generated taxes for a limited number of years, or similar options that give the developers incentive to build in the "blighted" area rather than away from downtown.
"If done correctly, this is property tax money that wouldn't be there if we didn't have these incentives," Glauser said.
"The money used by these elected officials isn't coming out of those elected officials' budgets," Bramble added. "It comes out of some other elected official's future budget."
He is exploring changes in the law that would force government bodies to use their own money or pledge that of their constituents. While the Utah Taxpayer Association's Web site carries two pictures of Provo's controversial block, Bramble said he'd rather ask fundamental questions about RDAs in general in Utah than take shots at Provo or other specific redevelopment projects.
"If Provo had to give away their own tax base to do that project," he said, "not public school monies or county monies, but their own future budget, would the city do it? Regardless of the condition of the property, the accountability of the local officials should take center stage."
Contributing: The Associated Press
E-mail: kmartinez@desnews.com; twalch@desnews.com
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