The city's Redevelopment Agency is considering creating a redevelopment district to repay infrastructure costs associated with a commercial development at 175 N. West State Road.
That is the site of the K mart shopping center now under construction. The K mart store will open Nov. 1.Residents will have the opportunity to comment on the proposed 17-acre redevelopment district during a public hearing Oct. 23 at 6 p.m.
Creation of a redevelopment district will allow the difference in property taxes prior to and after development to be returned to the project's Bountiful developer, Walt Gasser & Associates Inc. That difference amounts to approximately $15,000 per year.
Gasser said he asked the city in February to create the district to "offset extraordinary site costs that are particular to this site."
Extraordinary infrastructure costs that may be included in the redevelopment district agreement are extension of a 12-inch water line from the south end of the K mart project to Main Street and an extension of Pacific Avenue to the west and behind the shopping center.
Action on the redevelopment district needs to be taken before the end of the year to receive full tax advantages, said Rodney Despain, city planning consultant.
Legislation is being drafted for the 1991 legislative session to alter the way redevelopment districts operate.
Originally, the Redevelopment Agency discussed including 75 acres in the redevelopment district. Other property owners, however, are unsure how they want to develop their properties and have not asked to be included in the district.