The Provo Council
recently adopted a proposed South Downtown Community Development Project Area
Plan by ordinance. (Full text can be read here).
This Community
Development Area designates a zone of downtown Provo as eligible for Tax
Increment Financing to promote development in the area.
Boundaries of the Area
The approximate
boundaries of the Community Development Area are from 100 south to Provo Town
Center Mall, with a western boundary at approximately 300 west, and as the
boundary moves farther south, 500 west. An eastern boundary exists west of 100
east. The Provo Frontrunner station lies at the heart of the area.
(See map below for
details.)
Key Points from Public
Hearing Presentation
The Council also held a
public hearing prior to adoption of the ordinance. Several key points were discussed
to clarify frequently asked questions about the proposed Community Development
Area. Here are a few of the most prominent. You can watch full presentation on
Provo’s Channel 17 here.
- The adoption does not mean
property taxes in the zone will increase
- The adoption does not mean
property owners can be forced to sell their property
- Provo has created 5 other
Community Development Project Areas in the past
- In cases where Tax Increment
Financing is proposed for development projects, each of the taxing
entities in the area (Provo City, Utah County, Provo School District and
Central Utah Water) must agree to a development deal.
- Future development proposals will be expected to follow current general plan and zoning policies unless developers go through a public process to amend them with subsequent City Council support
You can read more about
“What is a Community Development Project Area?”, “What is Tax Increment
Financing” at this post. More information is also available on
Provo.org here, and at Provo Redevelopment’s site here.
If
you have comments or questions for Council Members, you may either leave them
as a comment here, or reach your Council Member directly here.
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