HOLLADAY City officials here will not garner as much money from new franchise taxes as they had hoped, so some needed road repairs will be left undone.
The city expects to be about $2.2 million short of the $12 million it hoped for, according to City Manager Randy Fitts. But the taxes on gas and electricity will be collected anyway and the city expects to take out bonds for as much of the money as it can.
The amount of money collected through franchise taxes would change if utility rates are increased, but not enough to make up the difference, Fitts said.
Meanwhile, the city is spending millions on infrastructure for the Holladay Village redevelopment, which is expected to replace the Cottonwood Mall. That project is proceeding on schedule, said a spokesman for General Growth properties, which owns the land. The city is currently embroiled in discussions with Rocky Mountain Power about burying power lines there.
The Holladay City Council will hold a hearing on the bond sale later this month. For more information, visit cityofholladay.com.