Lehi Redevelopment Agency of Lehi Meeting …...Lehi Redevelopment Agency of Lehi Meeting Agenda November 22, 2016 7:00 PM - Lehi City Council Chambers, (163 N. 100 E., Lehi, UT 84043)

Lehi Redevelopment Agency of Lehi MeetingAgenda

November 22, 2016

7:00 PM - Lehi City Council Chambers, (163 N. 100 E., Lehi, UT 84043)

1. Welcome and Roll Call

2. Regular Agenda

2.a. Consideration of Resolution #R2016-03 approving an Interlocal Agreement with Northern Utah CountyWater Conservancy District regarding the West Timpanogos Community Development Project Area.

Petitioner: Marlin Eldred, Economic Development DirectorRes R0216-03.docxInterlocal Agreement With Northern Utah County Water Conservancy District.docWest Timpanogos Project Area Plan.pdf

2.b. Consideration of Resolution #R2016-04 approving an Interlocal Agreement with Central Utah WaterConservancy District regarding the West Timpanogos Community Development Project Area.

Petitioner: Marlin Eldred, Economic Development DirectorRes R0216-04.docxInterlocal Agreement With Central Utah Water Conservancy District.docWest Timpanogos Project Area Plan.pdf

2.c. Consideration of Resolution #R2016-05 approving an Interlocal Agreement with Lehi Metropolitan WaterDistrict regarding the West Timpanogos Community Development Project Area.

Petitioner: Marlin Eldred, Economic Development DirectorRes R0216-05.docxInterlocal Agreement With Lehi Metropolitan Water District.docWest Timpanogos Project Area Plan.pdf

3. Adjournment

Public is invited to attend all Redevelopment Agency of Lehi Meetings In compliance with the Americans with Disabilities Act, persons in need of special accommodations should contact the City

Recorder at 768-7100 ext. 2254. This agenda has been properly posted and a copy provided to the local news media.

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https://legistarweb-production.s3.amazonaws.com/uploads/attachment/pdf/34021/Res_R0216-03.pdf

https://legistarweb-production.s3.amazonaws.com/uploads/attachment/pdf/34024/Interlocal_Agreement_With_Northern_Utah_County_Water_Conservancy_District.pdf

https://legistarweb-production.s3.amazonaws.com/uploads/attachment/pdf/34034/West_Timpanogos_Project_Area_Plan.pdf


https://legistarweb-production.s3.amazonaws.com/uploads/attachment/pdf/34028/Interlocal_Agreement_With_Central_Utah_Water_Conservancy_District.pdf



https://legistarweb-production.s3.amazonaws.com/uploads/attachment/pdf/34030/Interlocal_Agreement_With_Lehi_Metropolitan_Water_District.pdf


Redevelopment Agency of Lehi AgendaItem Report

Agenda Item No. 2016-638- Submitted by: Marilyn BanaskySubmitting Department: Economic Development Meeting Date: November 22, 2016

SUBJECTConsideration of Resolution #R2016-03 approving an Interlocal Agreement with Northern Utah County WaterConservancy District regarding the West Timpanogos Community Development Project Area.Petitioner: Marlin Eldred, Economic Development Director

Recommendation:Approve

ATTACHMENTS Res R0216-03.docx Interlocal Agreement With Northern Utah County Water Conservancy District.doc West Timpanogos Project Area Plan.pdf

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https://legistarweb-production.s3.amazonaws.com/uploads/attachment/pdf/34024/Interlocal_Agreement_With_Northern_Utah_County_Water_Conservancy_District.pdf


4820-1491-6913 / SP009-001

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RESOLUTION NO: R2016-03

A RESOLUTION APPROVING AN INTERLOCAL AGREEMENT WITH NORTHERN UTAH COUNTY WATER CONSERVANCY DISTRICT REGARDING THE WEST TIMPANOGOS COMMUNITY DEVELOPMENT PROJECT AREA.

WHEREAS, pursuant to the provisions of the Interlocal Cooperation Act, Title 11, Chapter 13, Utah Code Annotated 1953, as amended (the “Act”), public agencies, including political subdivisions of the State of Utah as therein defined, are authorized to enter into mutually advantageous agreements for joint and cooperative actions, including the sharing of tax and other revenues; and

WHEREAS, the Lehi City Redevelopment Agency (the “Agency”) and North Utah County Water Conservancy District (the “Taxing Entity”) are public agencies for purposes of the Act; and

WHEREAS, after careful analysis and consideration of relevant information, the Agencydesires to enter into an Interlocal Agreement with North Utah County Water Conservancy District whereby the Taxing Entity consents to the Agency receiving and retaining. for an extended period of time, a portion of the tax increment produced by the Taxing Entity’s levy on real and personal property within the West Timpanogos Community Development Project Area, to assist in the development and of the Project Area as provided in the Project Area Plan; and

WHEREAS, Section 11-13-202.5 of the Act requires that certain interlocal agreements be approved by resolution of the legislative body of a public agency.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF THE LEHI CITY REDEVELOPMENT AGENCY:

SECTION 1. Agreement Approval. The Interlocal Agreement, substantially in the form attached as EXHIBIT A, is approved and shall be executed by the Agency.

SECTION 2. Legal Review. As required by Section 11-13-202.5 of the Act, the Interlocal Agreement has been submitted to legal counsel of the Agency for review and approval as to form and legality.

SECTION 3. Filing with Records Keeper. As required by Section 11-13-209 of the Act and upon full execution of the Interlocal Agreement, an executed original counterpart of the Interlocal Agreement shall be filed immediately with the keeper of records of the Agency.

SECTION 5. Publishing of Notice. Upon full execution of the Interlocal Agreement, the Agency Secretary is directed to publish or cause to be published a notice of the Interlocal Agreement, in substantially the form attached as EXHIBIT B, as required by Section 11-13-219 of the Act and Section 17C-4-202 of the Utah Code, and to make a copy of the Interlocal Agreement available for public inspection and copying at the Agency’s offices during regular business hours for a period of at least 30 days following publication of the notice.

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4820-1491-6913 / SP009-001

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SECTION 4. Effective Date. This resolution shall become effective immediately upon passage.

PASSED AND ADOPTED BY THE BOARD OF THE LEHI CITY REDEVELOPMENT AGENCY ON THIS 22nd DAY OF November, 2016.

________________________________________Bert Wilson, Chairman

Attest:

______________________________Jason Walker, Executive Director

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EXHIBIT A

INTERLOCAL AGREEMENT

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EXHIBIT B

NOTICE OF INTERLOCAL AGREEMENT BETWEEN THE LEHI CITY REDEVELOPMENT AGENCY AND NORTH UTAH COUNTY WATER CONSERVANCY DISTRICT

The Lehi City Redevelopment Agency (the "Agency") and the North Utah County Water Conservancy District, Utah jointly provide this notice of an Interlocal Agreement entered into by and between the Agency and the North Utah County Water Conservancy District, in which the North Utah County Water Conservancy District consents to the Agency receiving and retaining a portion of the tax increment generated within the West Timpanogos Community Development Project Area for the purpose of facilitating development within the Project Area. A copy of the Interlocal Agreement is and will be available for public inspection and copying at the Agency offices located at 153 North 100 East, Lehi, Utah 84043, between the hours of 9:30 am and 5:00 pm, Monday through Friday, for a period of at least 30 days following the publication of this notice. During that 30-day period, any person in interest may contest the Interlocal Agreement, or the procedure used to adopt it, for failure to comply with any applicable statutory requirements. After that 30-Day Period, no person may contest the Interlocal Agreement for any cause.

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WEST TIMPANOGOS

COMMUNITY DEVELOPMENT PROJECT AREA


by and between the

LEHI CITY REDEVELOPMENT AGENCY

and

Northern Utah County Water Conservancy District

THIS INTERLOCAL AGREEMENT is entered into as of this __ day of ___________, 2016, by and between the LEHI CITY REDEVELOPMENT AGENCY (the “Agency”) and Northern Utah County Water Conservancy District (the “Taxing Entity”) (collectively, the “Parties”).

A. WHEREAS the Agency was created pursuant to the provisions of the Utah Redevelopment Law and the Agency continues to operate under the Limited Purpose Local Government Entities – Community Development and Renewal Agencies Act, Title 17C of the Utah Code (the “Act”), and is authorized thereunder to conduct urban renewal, economic development, and community development activities within the Lehi, Utah, as contemplated by the Act; and

B. WHEREAS the Agency created the West Timpanogos Community Development Project Area (the “Project Area”) and adopted a community development project area plan for the Project Area, a copy of which is attached hereto as EXHIBIT A and incorporated herein by this reference (the “Project Area Plan”), which includes the legal description and a map of the Project Area, pursuant to which the Agency desires to encourage, promote and provide for the development of a business park project (the “Project”) in the Project Area; and

C. WHEREAS the Taxing Entity and the Agency have determined that it is in the best interests of the Taxing Entity to provide certain financial assistance through the use of Tax Increment (as defined below) in connection with the development of the Project as set forth in the Project Area Plan; and

D. WHEREAS the Agency anticipates providing a portion of the tax increment (as defined in Utah Code Annotated (“UCA”) § 17C-1-102(47) (hereinafter “Tax Increment”), created by the Project, to assist in the development and completion of the Project as provided in the Project Area Plan; and

E. WHEREAS UCA §17C-4-201(1) authorizes the Taxing Entity to consent to the payment to the Agency of a portion of the Taxing Entity’s share of Tax Increment generated from the Project Area for the purposes set forth therein; and

F. WHEREAS UCA §11-13-215 further authorizes the Taxing Entity to share its tax and other revenues with the Agency; and

G. WHEREAS in order to facilitate development of the Project, the Taxing Entity7

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desires to pay to the Agency a portion of the Taxing Entity’s share of Tax Increment generated by the Project Area in accordance with the terms of this Agreement; and

H. WHEREAS the provisions of applicable Utah State law shall govern this Agreement, including the Act and the Interlocal Cooperation Act, Title 11 Chapter 13 of the UCA, as amended (the “Cooperation Act”).

NOW, THEREFORE, in consideration of the mutual promises set forth herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereby agree as follows:

1. Taxing Entity’s Consent.

a. Pursuant to Section 17C-4-201(2)(b) of the Act and Section 11-13-215 of the Cooperation Act, the Taxing Entity hereby agrees and consents that the Agency shall be paid 50% ofthe Taxing Entity’s share of the Tax Increment from the Project Area (the “Taxing Entity’s Share”) for twenty (20) years, starting with tax year 2015 through 2035, inclusive. The Taxing Entity’s Share shall be used for the purposes set forth in UCA §17C-4-201(1) as reflected herein and in the Project Area Plan and shall be disbursed as specified herein. The calculation of annual Tax Increment shall be made using (a) the Taxing Entity’s tax levy rate during the year for which Tax Increment is to be paid, and (b) the 2012 base year taxable value of $6,448,875, as agreed to by the parties, which taxable value is subject to adjustment as required by law.

b. The Taxing Entity hereby authorizes and directs Utah County to pay directly to the Agency the Taxing Entity’s Share in accordance with UCA § 17C-4-203 for the 20-year period described in Section 1.a. above.

c. Notwithstanding the foregoing, if the Agency receives in less than twenty (20) years Tax Increment from the Project Area sufficient to retire, pay, or otherwise satisfy all of the payment obligations of the Agency with regard to the Project, including but not limited to debt service on any bonds issued to finance Project costs or the maximum amount the Agency has agreed to contribute to (a) the cost of infrastructure and (b) the business park, the Agency will either (i) cease collecting the Taxing Entity’s Share under this Agreement, or (ii) renegotiate this Agreement with the Taxing Entity to provide for the payment of the Taxing Entity’s Share for the remainder of all or a portion of the originally contemplated 20-year term of this Agreement. It is the intent of the Parties that the payment and use of Tax Increment from the Project Area for eligible Project costs will not extend over a period longer than twenty (20) years.

2. Authorized Uses of Tax Increment. The Parties agree that the Agency may apply the Taxing Entity’s Share to the payment of any of the components of the Project as described herein and contemplated in the Project Area Plan, including but not limited to the cost and maintenance of public infrastructure and other improvements located within the Project Area, incentives to developers or participants within the project area, administrative, overhead, legal, and other operating expenses of the Agency, and any other purposes deemed appropriate by the Agency, all as authorized by the Act..

3. No Third Party Beneficiary. Nothing in this Agreement shall create or be read or interpreted to create any rights in or obligations in favor of any person or entity not a party to this Agreement. Except for the parties to this Agreement, no person or entity is an intended third party

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beneficiary under this Agreement.

4. Due Diligence. Each of the Parties acknowledges for itself that it has performed its own review, investigation, and due diligence regarding the relevant facts upon which this Agreementis based, including representations of the Agency concerning the Project and the Project's benefits to the community and to the Parties, and each Party relies upon its own understanding of the relevant law and facts, information, and representations, after having completed its own due diligence and investigation.

5. Interlocal Cooperation Act. In satisfaction of the requirements of the CooperationAct in connection with this Agreement, the Parties agree as follows:

a. This Agreement shall be authorized and adopted by resolution of the legislative body of each Party pursuant to and in accordance with the provisions of Section 11-13-202.5 of the Cooperation Act;

b. This Agreement shall be reviewed as to proper form and compliance with applicable law by a duly authorized attorney in behalf of each Party pursuant to and in accordancewith the Section 11-13-202.5(3) of the Cooperation Act;

c. A duly executed original counterpart of this Agreement shall be filed immediately with the keeper of records of each Party pursuant to Section 11-13-209 of the Cooperation Act;

d. The Chair of the Agency is hereby designated the administrator for all purposes of the Cooperation Act, pursuant to Section 11-13-207 of the Cooperation Act;

e. The term of this Agreement shall commence on the publication of the notice required by Section 17C-4-202 of the Act and shall continue through the date on which all of the Taxing Entity’s Share has been paid to and disbursed by the Agency as provided herein or the Agency ceases to receive such Tax Increment pursuant to Section 1.c. hereof.

f. Following the execution of this Agreement by both Parties, each Party shall cause a notice regarding this Agreement to be published in accordance with Section 11-13-219 of the Cooperation Act and Section 17C-4-202 of the Act.

6. Modification and Amendment. Any modification of or amendment to any provision contained herein shall be effective only if the modification or amendment is in writing and signed by both Parties. Any oral representation or modification concerning this Agreement shall be of no force or effect.

7. Further Assurance. Each of the Parties hereto agrees to cooperate in good faith with the other, to execute and deliver such further documents, to adopt any resolutions, to take any other official action, and to perform such other acts as may be reasonably necessary or appropriate to consummate and carry into effect the transactions contemplated under this Agreement.

8. Governing Law. This Agreement shall be governed by, and construed and 9

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interpreted in accordance with, the laws of the State of Utah.

9. Interpretation. The terms “include,” “includes,” “including” when used herein shallbe deemed in each case to be followed by the words “without limitation.”

10. Severability. If any provision of this Agreement shall be held invalid or unenforceable by any court of competent jurisdiction or as a result of future legislative action, and ifthe rights or obligations of any Party hereto under this Agreement will not be materially and adversely affected thereby,

a. such holding or action shall be strictly construed;

b. such provision shall be fully severable;

c. this Agreement shall be construed and enforced as if such provision had never comprised a part hereof;

d. the remaining provisions of this Agreement shall remain in full force and effect and shall not be affected by the invalid or unenforceable provision or by its severance from this Agreement; and

e. in lieu of such illegal, invalid, or unenforceable provision, the Parties hereto shall use commercially reasonable efforts to negotiate in good faith a substitute, legal, valid, and enforceable provision that most nearly effects the Parties' intent in entering into this Agreement.

11. Authorization. Each of the Parties hereto represents and warrants to the other that the warranting Party has taken all steps, including the publication of public notice where necessary,in order to authorize the execution, delivery, and performance of this Agreement by each such Party.

12. Time of the Essence. Time shall be of the essence of this Agreement.

13. Incorporation of Recitals. The recitals set forth above, “A” through “H,” are herebyincorporated by reference as part of this Agreement.


15. Incorporation of Exhibits. The exhibits to this Agreement are hereby incorporated by reference as part of this Agreement

16. Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed to be an original, but all of which, taken together, shall constitute one and the same agreement.

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ENTERED into as of the day and year first above written.


By: ________________________________Name: Bert WilsonTitle: Chairman

ATTEST:

By:______________________________Name: Jason WalkerTitle: Executive Director

Attorney Review for the Agency:The undersigned, as counsel for the Lehi City Redevelopment Agency, has reviewed the foregoing Interlocal Agreement and finds it to be in proper form and in compliance with applicable state law.

_________________________________Attorney for the Lehi City Redevelopment Agency

[Signatures continue on next page.]

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ADDITIONAL SIGNATURES TO INTERLOCAL AGREEMENT

Northern Utah County Water Conservancy District

By: ________________________________Name:Title:

ATTEST:

_________________________Name:Title:

Attorney Review for the Taxing Entity:The undersigned, as attorney for Northern Utah County Water Conservancy District, has reviewed the foregoing Interlocal Agreement and finds it to be in proper form and in compliance with applicable state law.

______________________________________Attorney for Northern Utah County Water Conservancy District

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EXHIBIT A

WEST TIMPANOGOS COMMUNITY DEVELOPMENT PROJECT AREA

PROJECT AREA PLAN

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West Timpanogos Community Development

Project Area Plan and Budget

Prepared by

Smith Hartvigsen, PLLC and Jonnalynne Walker, LLC

June, 2013

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Table of Contents

1. Introduction 4

2. Definitions 4

3. Preconditions for Designating a Community Development Project Area 6

4. Project Area Boundaries [17C-4-103(1)] 6

5. General Statement of Land Uses, Layout of Principal Streets, Population Densities, Building

Intensities and How They will be Affected by the Community Development [17C-4-103(2)] 6

A. Land Uses in the Project Area 7

B. Layout of Principal Streets in the Project Area 7

C. Population Densities in the Project Area 7

D. Building Intensities in the Project Area 7

6. Standards That Will Guide the Community Development [17C-4-103(3)] 7

A. General Design Objectives 7

B. Specific Design Objectives and Controls 8

1. Building Design Objectives 8

2. Open Space Pedestrian Walks and Interior Drive Design Objectives 8

3. Parking Design Objectives 8

4. Project Improvement Design Objectives 9

C. Techniques to Achieve the Community Development Plan Objectives 9

D. Approvals 9

7. How the Purposes of the Act Will Be Attained by the Community Development

[17C-4-103(4)] 9

A. Establishment of New Business and Increased Tax Base 9

B. Public Infrastructure Improvements 10

8. The Plan is Consistent with and will conform to the Community’s General Plan

[17C-4-103(5)] 10

9. Description of Any Specific Project or Projects That are the Object of the

Proposed Economic Development [17C-4-103(6)] 10

10. How Private Developers Will Be Selected and Identification of Current Developers in the

Project Area [17C-4-103(7)] 10

A. Selection of Private Developers 10

B. Identification of Developers Who are Currently Involved in the Proposed Community

Development 11

11. Reasons for the Selection of the Project Area [17C-4-103(8)] 11

12. Description of existing Physical, Social and Economic Conditions [17C-4-103(9)] 11

13. Tax Incentives Offered to Private Entities for Facilities Located within the Project Area

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[17C-4-103(10)] 11

14. Analysis of Whether the Adoption of the Project Area Plan is Beneficial under a Benefit

Analysis [17C-4-103(11)] 12

A. Beneficial Influences Upon the Tax Base of the Community [17C-4-103(11)(a)] 12

B. Business and Economic Activity Likely to be Stimulated [17C-4-103 (11)(b)] 12

APPENDIX A: PARCEL LIST 15

APPENDIX B: PROJECT AREA DESCRIPTION 16

APPENDIX C: PROJECT AREA MAP 18

APPENDIX C: PROJECT AREA BUDGET 19

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1. INTRODUCTION

The Lehi City Redevelopment Agency (the “Agency”), following thorough consideration of the

needs and desires of Lehi City (the “City”) and its residents, regarding need of and capacity for

new development, has prepared this Community Development Project Area Plan (the “Plan”) for

the West Timpanogos Community Development Project Area (the “Project Area). The Project Area

includes approximately 81 acres intended for business park development. It is anticipated that the

Project Area will be developed into a regional office center to include about 1,500,000 square feet

of Class “A” office space. The development is consistent with the City’s long-term goal of

supporting commercial development generally throughout the City, as well as, targeting

commercial development designed to meet the needs of the residents within the City and Utah City,

as well as, residents of adjoining counties and travelers. The development of a regional office

center, such as this, is suited to serve both the needs and character of the surrounding community.

Initially, it is anticipated that approximately 250,000 square feet of office space will be constructed,

of which 210,000 square feet will be occupied by Xactware Solutions. Xactware Solutions

provides computer software solutions for professionals involved in estimating all phases of building

and repair. The overall benefits and investment brought to the project include the public infrastructure

improvements, which may be located in or outside and which benefit the community

development project area and site improvements constructed as the result of the project area

developing with superior quality research/development/office facilities.

It is anticipated that private investment within the proposed project area will be at least $56.6

million in Phase One and an estimated average of $61 million in each of an additional five phases.

The construction of the new improvements will increase property values. Total capital

investment of the multi-phase development is estimated to be over $366.5 million through year

2018. The economic benefits resulting from the construction of the facilities include; new

employment (both short and long term), local purchases of supplies for the production and

distribution of products, local purchases of goods and services by employees constructing and

working at the facilities, local purchase of utilities, and increased tax revenues to state and local

governments. 2. DEFINITIONS

As used in this Community Development Project Area Plan: 1. The term "Act" shall mean and include the Limited Purpose Local

Government Entities – Community Development and Renewal Agencies Act Title 17C,

Chapters 1 through 4, Utah Code Annotated, including such amendments or successor statutes

as shall from time to time be enacted. 2. The term "Agency" shall mean the Lehi City Redevelopment Agency, a separate body

corporate and politic. 17

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3. The term "base taxable value" shall mean the base taxable value of the property within the

Project Area, as shown upon the assessment roll last equalized, before: the date the taxing

entity committee adopts the first project area budget.

4. The term "City" shall mean Lehi City, Utah.

5. The term “Developer” shall mean any person or entity undertaking development activities in

the Project Area. 6. The term “Community development” means development activities within a community,

including the encouragement, promotion, or provision of development. 7. The term “Plan Hearing” means the public hearing on the draft Project Area Plan

required under Subsection 17C-3-102 of the Act. 8. The term "planning commission" shall mean the planning commission of the City. 9. The term “Project” means the activities associated with this Project Area Plan. 10. The term "Project Area" or "West Timpanogos Community Development Project Area"

shall mean the geographic area described in this Project Area Plan where the Community

Development set forth in this Project Area Plan takes place or is proposed to take place.

11. The term "Project Area Plan" or “Plan” shall mean the West Timpanogos Community

Development Project Area Plan that was adopted pursuant to the Act to guide and control

Community Development activities within the project area.

12. The term "Project Area Budget" shall mean a multiyear projection of annual or cumulative revenues and expenses and other fiscal matters pertaining to the project area that includes: (a) the base taxable value of property in the project area; (b) the projected tax increment expected to be generated within the Project Area; (c) the amount of tax increment expected to be shared with other taxing entities; (d) the amount of tax increment expected to be used to implement the Project Area Plan, including the estimated amount of tax increment to be used for land acquisition, public improvements, infrastructure improvements, and loans, grants, or other incentives to private and public entities; (e) the tax increment expected to be used to cover the cost of administering the Project Area Plan; (f) if the area from which tax increment is to be collected is less than the entire Project Area: (i) the tax identification numbers of the parcels from which tax increment will be collected; or (ii) a legal description of the portion of the Project Area from which tax increment will be collected; for a Community Development Project Area, the information required under Subsection 17C-4-204.

13. The terms "tax," "taxes," "property tax" or "property taxes" includes privilege tax and each levy on an ad valorem basis on tangible or intangible personal or real property.

14. The term "taxing entity" shall mean each public entity that levies a property tax on property situated within the Project Area.

15. The term "tax increment" shall mean the difference between (i) the amount of property tax

revenues generated each tax year by all taxing entities from the area designated in the Project

Area Plan as the area from which tax increment is to be collected, using the current assessed 18

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value of the property, and (ii) the amount of property tax revenues that would be generated

from that same area using the base taxable value of the property. Tax increment does not

include taxes levied and collected under Section 59-6-1602 Utah Code Annotated, on or after

January 1, 1994. 16. The term “Tax Increment Collection Area” shall mean the area from which tax increment is

collected for the timeframe of this Plan. It is the intention that the Tax Increment Collection

Area have the same boundaries as the Project Area for this Plan.

17. All other terms shall have the same meaning set forth in the Act unless the context clearly indicates otherwise.

3. PRECONDITIONS FOR DESIGNATING A COMMUNITY DEVELOPMENT

PROJECT AREA

a) Pursuant to the provisions of §17C-4-102(2)(a) and (b) of the Act, the City has a

planning commission and general plan as required by law; and b) Pursuant to the provisions of §17C-4-102(1)(b) and (c) of the Act, the Agency made a

draft Project Area Plan available to the public at the Agency’s offices during normal

business hours, provided notice of the plan hearing and is holding a public hearing on the

draft plan on July 9, 2013; and c) Pursuant to the provisions of §17C-4-102(1)(d) of the Act, the Agency is conducting

one or more public hearings for the purpose of informing the public about the proposed

Project Area, allowing public comment on the draft Project Area Plan and whether the

plan should be revised, approved or rejected. The purpose of the hearing(s) is to inform

the public about the Plan, to allow public comment on the draft Plan and to solicit input on

whether the Plan should be revised, approved or rejected.

4. PROJECT AREA BOUNDARIES [17C-4-103(1)]

The area identified for study (see map in Appendix B) consists of approximately 81 acres.

The Project Area is located within the Traverse Mountain area. The Project Area is located east

of I-15. It is bounded on the west by the Provo Reservoir Canal, on the east by Morning

Glory Road, and on the south by Timpanogos Highway (SR 92). The north boundary is

along the northerly edge of parcels 53488001, 110310162, and 110310141.

5. GENERAL STATEMENT OF LAND USES, LAYOUT OF PRINCIPAL STREETS,

POPULATION DENSITIES, BUILDING INTENSITIES AND HOW THEY WILL BE

AFFECTED BY THE COMMUNITY DEVELOPMENT [17C-4-103(2)]

A. LAND USES IN THE PROJECT AREA

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The permitted land uses within the Project Area shall be those uses permitted by the officially

adopted zoning ordinances of the City, as those ordinances may be amended from time to

time. The Project Area is currently zoned Commercial (C) which is consistent with the City’s

General Plan and permits the development of the regional office center contemplated. At

present, most of the real property in the Project Area is unimproved. With this Plan in place, it

is expected that land will be developed as a business park – mainly office, warehousing,

commercial and manufacturing which are all permitted uses under the current land use map.

B. LAYOUT OF PRINCIPAL STREETS IN THE PROJECT AREA

The Project Area is located east of I-15. It is bounded on the west by the Provo Reservoir

Canal, on the east by Morning Glory Road, and on the south by Timpanogos Highway (SR

92). The north boundary is along the northerly edge of parcels 53488001, 110310162, and

110310141. It is anticipated that a new road will be constructed on the north boundary of the

Project Area.

C. POPULATION DENSITIES IN THE PROJECT AREA

Currently, no one lives within the Project Area. The Plan does not currently propose any

residential development. Existing and proposed residential densities within the Project Area

will therefore remain at zero persons per square mile. D. BUILDING INTENSITIES IN THE PROJECT AREA

Currently there is one building within the Project Area. It is anticipated that the Project Area will be developed into a regional office center to include about 1,500,000 square feet of Class “A” office space. Approximately 210,000 square feet will be occupied by Xactware Solutions.

6. STANDARDS THAT WILL GUIDE THE COMMUNITY DEVELOPMENT

[17C-4-103(3)]

A. GENERAL DESIGN OBJECTIVES

The Agency shall have the right to approve the design and construction documents of all

Community Development within the Project Area to ensure that all Community Development

within the Project Area is consistent with this Plan. The City shall notify the Agency of all

requests for: (1) zoning changes; (2) conditional use permits; (3) site plan approval; and (4)

building permits within the Project Area, and all proposed amendments thereof. Community

Development projects within the Project Area shall be implemented as approved by the Agency

and the City.

Development within the Project Area will be held to quality design and construction standards,

suitable for a business park and will be subject to: (1) appropriate elements of the City’s

General Plan; (2) applicable City building codes and ordinances; (3) planning commission

review and recommendation; and (4) the City’s land use code. 20

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Developers will be allowed flexibility of design in developing land located within the Project

Area. The development shall be of a design and shall use materials that are subject to design

review and approval by the City pursuant to a development agreement with the Developer

specifically addressing design issues. Coordinated and attractive landscaping shall also be provided as appropriate for the character of the Project Area. Materials and design paving, retaining walls, fences, curbs, benches, and other items shall have an attractive appearance and be easily maintained. All development will be based on site plans, development data, and other appropriate

submittals and materials clearly describing the development, including land coverage,

setbacks, heights, and any other data dictated by the City’s land use code, and applicable City

practice or procedure. B. S

PECIFIC DESIGN OBJECTIVES AND CONTROLS

In addition to the general City design objectives and standards described above, the developer will adopt specific design guidelines that will govern the development of the Project Area. These guidelines focus on the development of a business park atmosphere that will benefit the City.

1. BUILDING DESIGN OBJECTIVES

All new buildings shall be of design and materials that will be in harmony with adjoining areas and other new development and shall be subject to design review and approval by the City. The design of buildings shall take advantage of available views and topography and shall provide, where appropriate, separate levels of access. 2. OPEN SPACE PEDESTRIAN WALKS AND INTERIOR DRIVE DESIGN

OBJECTIVES

All open spaces, pedestrian walks and interior drives shall be designed as an integral part of an overall site design, properly related to existing and proposed buildings. Comfortably graded pedestrian walks should be provided in areas of the most intense use, particularly from building entrances to parking areas, and adjacent buildings on the same site.

The location and design of pedestrian walks should afford adequate safety and separation

from vehicular traffic. Materials and design of paving, retaining walls, fences, curbs, and

other accouterments, shall be of good appearance and easily maintained.

3. PARKING DESIGN OBJECTIVES

Parking areas shall be designed with regard to orderly arrangement, topography and ease of use and access.

21

9

4. PROJECT IMPROVEMENT DESIGN OBJECTIVES

Public Rights-of-Way. All streets and walkways within public rights-of-way will be

designed or approved by the City and will be consistent with all design objectives. Street Lighting and Signs. Lighting standards and signs of pleasant appearance and modern illumination standards shall be provided as necessary as approved by the City. Grading. The applicable portions of the Project Area will be graded in conformance with the final project design as approved by the City for each specific project in accordance with City Code.

C. TECHNIQUES TO ACHIEVE THE COMMUNITY DEVELOPMENT PLAN

OBJECTIVES

The Agency will achieve economic development through infrastructure improvements. The Agency could contemplate the acquisition and development of properties in the Project Area.

D. APPROVALS

Development within the Project Area shall be implemented by the Agency in

accordance with this Plan, and as approved by the City in accordance with applicable land

use and building code provisions. The City shall notify the Agency of all requests for (1)

zoning changes; (2) design approval; (3) site plan approval; and (4) building permits within

the Project Area.

7. HOW THE PURPOSES OF THE ACT WILL BE ATTAINED BY THE

ECONOMIC DEVELOPMENT [17C-4-103(4)]

It is the intent of the Agency, with the assistance and participation of the Developer, to

facilitate and promote the development of office, industrial, manufacturing, commercial and

other business park-related activities that will result in the creation of jobs in the Project Area.

Further, the project will strengthen the tax base of the City, which will also serve to

accomplish Community Development objectives and create a well-planned business park. The purposes of the Act will be achieved by the following:

A. ESTABLISHMENT OF NEW BUSINESS AND INCREASED TAX BASE

The proposed Project envisions business park development that will benefit the State and

the City through increased job creation, increased property tax base, increased income

taxes paid (both corporate and individual) and increased energy usage. Multiplier (indirect

and induced) impacts will result from job creation and expenditures for construction and

supplies. 22

10

B. PUBLIC INFRASTRUCTURE IMPROVEMENTS

The construction of the public infrastructure improvements as provided by this Plan will

support the development contemplated herein and provide for future development in

surrounding areas. The associated public infrastructure improvements will make the land

within the Project Area more accessible. Thus, the components of the Project provided in

this Plan will encourage, promote and provide for Community Development within the

Project Area and the City generally for years to come.

8. THE PLAN IS CONSISTENT WITH AND WILL CONFORM TO THE

COMMUNITY’S GENERAL PLAN [17C-4-103(5)] This Plan for the development of the Project Area is consistent with and will conform to Lehi

City’s General Plan. The City has several goals related to land use within the City and plans to

“provide diverse economic and employment opportunities and encourage multiple scales of

commercial development to serve the needs of the region, the community, and individual

neighborhoods.” The City strives to “consider economic programs that encourage, protect, and

magnify the emerging economic hub of offices, technology and business centers . . .” (Lehi

City General Plan, Land Use Element, p. 15). This Project Area Plan conforms to the City’s

goals for economic development.

9. DESCRIPTION OF ANY SPECIFIC PROJECT OR PROJECTS THAT ARE THE

OBJECT OF THE PROPOSED COMMUNITY DEVELOPMENT [17C-4-103(6)]

It is anticipated that the Project Area will be developed into a regional office center to include

about 1,500,000 square feet of Class “A” office space. The development of a regional office

center, such as this, is suited to serve both the needs and character of the surrounding

community. Initially, it is anticipated that approximately 250,000 square feet of office space

will be constructed, of which 210,000 square feet will be occupied by Xactware Solutions.

Xactware Solutions provides computer software solutions for professionals involved in

estimating all phases of building and repair. It is anticipated that private investment within the proposed project area will be at least $56.6

million in Phase One and an estimated average of $61 million in each of an additional five

phases. The construction of the new improvements will increase property values. Total

capital investment of the multi-phase development is estimated to be over $366.5 million

through year 2018.

10. HOW PRIVATE DEVELOPERS WILL BE SELECTED AND IDENTIFICATION OF

CURRENT DEVELOPERS IN THE PROJECT AREA [17C-4-103(7)]

A. SELECTION OF PRIVATE DEVELOPERS

23

11

The Agency contemplates that owners of real property within the Project Area will take

advantage of the opportunity to develop their property, or sell their property to developers for

the development of facilities within the Project Area. In the event that owners do not wish to

participate in the Community Development in compliance with the Plan, or in a manner

acceptable to the Agency, or are unable or unwilling to appropriately participate, the Agency

may, consistent with the Act, encourage other owners to acquire property within the Project

Area, or to select non-owner developers by private negotiation, public advertisement, bidding

or the solicitation of written proposals, or a combination of one or more of the above methods.

B. IDENTIFICATION OF DEVELOPERS WHO ARE CURRENTLY INVOLVED IN

THE PROPOSED ECONOMIC DEVELOPMENT

Approximately 96% of the Project Area has been acquired by Traverse Mountain Commercial Venture, LLC. The Agency, consistent with the Act, will work with any developers to ensure that all aspects of the Plan are implemented.

11. REASONS FOR THE SELECTION OF THE PROJECT AREA [17C-4-103(8)]

The Project Area was selected by the Agency as that area within the City having an immediate

opportunity to strengthen the community through a developer who is willing to invest private

capital into a business park that will allow for job creation, as well as the retention of existing

jobs in the City. It is also anticipated that the initial development will spur additional

surrounding business park type development that will bring new businesses and services into

the City, and provide for public infrastructure which will support the development and provide

for future development in surrounding areas. The Project Area is adjacent to a thriving business area with easy access to Timpanogos

Highway (SR 92) and I-15.

12. DESCRIPTION OF THE PHYSICAL, SOCIAL AND ECONOMIC CONDITIONS

EXISTING IN THE AREA [17C-4-103(9)]

The Project Area consists of approximately 81 acres of land. All but two acres of the land is privately owned. The land is mostly flat and clear. The only structures currently on the land are associated with an industrial business located on the southwest corner of the Project Area. No unusual social conditions were found to exist. Because of the shifting land uses within the Project Area, this area will take on a new social character that will enhance existing development in the City. The Project Area will bring workers from the surrounding region to the Project Area for employment purposes. It is anticipated, therefore, that the proposed Project Area will add to the City’s economy, quality of life, and reputation. The taxable value of the Project Area is currently $6,448,875.

13. TAX INCENTIVES OFFERED TO PRIVATE ENTITIES FOR FACILITIES LOCATED

WITHIN THE PROJECT AREA [17C-4-103(10)]

24

12

The Agency intends to collect tax increment from the Project Area for a period of 20 years.

The Agency will receive 25% of the tax increment from Alpine School District and 50% of the

tax increment from all other taxing entities; including Lehi City, Utah County, Lehi

Metropolitan Water District, Northern Utah County Water Conservancy District, and Central

Utah Water Conservancy District. The increment is necessary for the Project Area in order to

assist with infrastructure costs, such as electric utility poles, roadways, relocation costs and

other developer incentives necessary to build an industrial/business park. The Project Area Budget (attached as Appendix D) shows anticipated tax increment receipts, and the estimated eligible development costs to be reimbursed.

14. ANALYSIS OF WHETHER THE ADOPTION OF THE PROJECT AREA PLAN

IS BENEFICIAL UNDER A BENEFIT ANALYSIS [17C-4-103(11)]

The public will realize benefits from the development of the Community Development Project Area

as proposed by this Plan. The Agency’s long-term objective in developing the Project Area is to

create a high quality, business park that will diversify the City’s economic and tax base, and offer

good-paying employment opportunities.

A. BENEFICIAL INFLUENCES UPON THE TAX BASE OF THE COMMUNITY [17C-

4-103(11)(a)]

The City and taxing entities will see an increase in taxable value of an estimated $73.3 million

over the next 20 years in the Project Area. This is a substantial increase from today’s taxable

value of $6,448,875. Construction could begin in 2013, with tax increment commencing in

2014. If construction begins in 2013 and the Project Area commences in 2014 and runs for a

period of 20 years, each of the taxing entities will receive increased taxes over the next 20 years

from the increased investment in the area. The projected incremental tax revenues which are

projected to be generated from the increased assessed value resulting from the office improvements

area summarized below:

Taxing Entity Participation Level 20 Year Gross Annual (Year 1)

Alpine School District 25% $12,238,258 $ 97,092

Utah County 50% $ 3,669,092 $ 29,109

Lehi City 50% $ 7,165,737 $ 56,849

Lehi Metro. Water District 50% $ 36,691 $ 291

No. Utah Co. Water Cons.

District

50% $ 80,720 $ 640

Central Utah Water Cons. 50% $ 1,262,168 $ 10,013

TOTAL $24,452,666 $193,995

B. BUSINESS AND ECONOMIC ACTIVITY LIKELY TO BE STIMULATED

[17C-4-103(11)(b)]

This public investment of tax increment is expected to stimulate the following associated

25

13

business and economic activity:

Short-Term Construction Employment It is estimated that a total of 3,500 construction workers will be on-site during the six phase

construction period for the office improvements. The estimated total payroll during the six phase

construction period is $146,632,383. The office improvements are projected to be constructed

over six phases, with each phase occurring in six consecutive years. It is estimated that an

average of 583 construction workers will be on-site during each phase of the office development.

The estimated average payroll for each phase is $24,369,400.

The number of construction jobs is calculated based on construction labor costs, which are

assumed to be about 40 percent ($146,632,383) of total construction costs of $366,580,959 (the

remaining 60 percent is spent for materials and overhead). The current average construction

wage for the project is estimated to be $41,800. Therefore, the total labor costs of $146.6

million, divided by the average annual wage of $41,800, results in the equivalent of about

3,500 full-time jobs over the six phases of construction.

It is reasonable to expect that construction workers may spend a typical portion of their wages in

Lehi City and Utah County for food, clothing, recreation and transportation from which sales tax

revenue would be generated. A portion of construction materials used during the construction of

the West Timpanogos Community Development Area project may be purchased from suppliers

in Lehi and Utah County.

Direct Employment It is estimated that 859 new full-time employees will be hired by Xactware Solutions to work at

the proposed Utah County facility. In May 2012, Xactware Solutions reportedly had 460

employees working at various locations in Utah County. It is reported that Xactware Solutions

will pay new hires wages that are 125% of the Utah County average. In 2011, the annual

average nonagricultural wage in Utah County was $35,568, according to the Utah Governor’s

Office of Economic Development.

In addition to Xactware Solutions, it is proposed that 1,290,000 square feet of office space is to

be constructed over five Phases. It is estimated that direct employment in the remaining square

footage may range from 3,700 to 5,100 new jobs which equates to approximately one employee

per 250 to 350 square feet of office space.

Direct Purchase of Supplies and Services

It is anticipated that businesses locating in the West Timpanogos Community Development Area

will directly purchase local goods and services related to their operations from local or regional

suppliers. These purchases will likely increase employment opportunities in the related

businesses of subcontracting; computer software and hardware, supplies, communication, office,

transportation and delivery services.

26

14

Direct impact is spending done by a business in the local economy to operate the business,

including inventory, utilities, equipment and pay to employees.

Indirect impact refers to the conventional multiplier that happens as dollars the local

business spends at other area businesses re-circulate.

Induced impact refers to the additional consumer spending that happens as employees,

business owners and others spend their income in the local economy.

It is anticipated that the West Timpanogos Community Development Area tenants will indirectly

purchase local goods and services from local or regional suppliers. These purchases will likely

increase employment opportunities in the related businesses of subcontracting; computer

software and hardware, supplies, communication, office, transportation and delivery services.

Associated business and economic activity or the "indirect" and "induced" business impacts of a

program, project or facility are often referred to as "multiplier effects," since they can make the

overall economic impacts substantially larger than the direct effects alone.

27

15

APPENDIX A: PARCEL LIST

Parcel

Number

Acres

110300081 0.17

110310135 0.15

110310141 36.15

110310142 0.36

110310162 0.96

110310164 0.63

110320401 9.56

110320403 0.87

110320416 0.04

110320420 2.64

532570001 9.45

533050007 5.07

533050008 0.12

534880001 13.27

534880003 1.91

28

16

APPENDIX B: PROJECT AREA DESCRIPTION

A parcel of land situate in the Southwest Quarter of Section 29, the South Half of Section 30, the

North Half of Section 31, and the Northwest Quarter of Section 32, Township 4 South, Range 1

East, Salt Lake Base and Meridian, Lehi City, Utah County, Utah. Subject parcel being more

particularly described as follows:

Beginning at a point at the intersection of the Westerly Right-of-Way Line of Morning Glory Road,

according to the official Morning Glory Road dedication plat thereof as recorded in the Office of

the Utah County Recorder and the Northerly Right-of-Way Line of State Route 92, said point being

South 774.11 feet and West 72.06 feet from the Southeast Corner of Section 30, Township 4 South,

Range 1 East, Salt Lake Base and Meridian; and running thence Southwesterly 735.36 feet along

the arc of a 5,830.00 foot radius curve to the left (center bears South 02°42'19" East and the chord

bears South 83°40'53" West 734.87 feet with a central angle of 07°13'37") along the Northerly

Right-of-Way Line of said State Route 92; thence South 09°55'55" East 1.88 feet along the

Northerly Right-of-Way Line of said State Route 92; thence Southwesterly 41.33 feet along the arc

of a 5,891.43 foot radius curve to the left (center bears South 09°46'46" East and the chord bears

South 80°01'10" West 41.33 feet with a central angle of 00°24'07") along the Northerly Right-of-

Way Line of said State Route 92; thence South 79°43'31" West 599.47 feet along the Northerly

Right-of-Way Line of said State Route 92 to the Northeasterly Boundary Line of the Provo

Reservoir Canal; thence Northwesterly 76.87 feet along the arc of a 665.87 foot radius curve to the

right (center bears North 29°37'47" East and the chord bears North 57°03'46" West 76.83 feet with

a central angle of 06°36'53")along the Northeasterly Boundary Line of said Provo Reservoir Canal;

thence North 53°44'18" West 689.00 feet along the Northeasterly Boundary Line of said Provo


left (center bears South 36°15'42" West and the chord bears North 58°51'03" West 77.53 feet with a

central angle of 10°13'30") along the Northeasterly Boundary Line of said Provo Reservoir Canal;


Reservoir Canal; thence North 62°14'18" West 301.97 feet along the Northeasterly Boundary Line

of said Provo Reservoir Canal; thence Northwesterly 102.85 feet along the arc of a 315.00 foot

radius curve to the right (center bears North 27°45'42" East and the chord bears North 52°53'03"

West 102.40 feet with a central angle of 18°42'30") along the Northeasterly Boundary Line of said

Provo Reservoir Canal; thence North 43°31'48" West 82.78 feet along the Northeasterly Boundary

Line of said Provo Reservoir Canal; thence North 23°36'48" East 131.11 feet; thence Northeasterly

37.70 feet along the arc of a 24.00 foot radius curve to the right (center bears South 66°23'12" East

and the chord bears North 68°36'48" East 33.94 feet with a central angle of 90°00'00"); thence

South 66°23'12" East 463.65 feet; thence North 33°30'07" East 112.91 feet; thence Southeasterly

250.52 feet along the arc of a 1,200.96 foot radius curve to the left (center bears North 08°31'54" 29

17

East and the chord bears South 87°26'39" East 250.06 feet with a central angle of 11°57'06");

thence North 86°50'34" East 66.37 feet; thence Southeasterly 256.43 feet along the arc of a 1,035.00

foot radius curve to the right (center bears South 03°09'26" East and the chord bears South

86°03'34" East 255.78 feet with a central angle of 14°11'45"); thence Northeasterly 36.70 feet along

the arc of a 24.00 foot radius curve to the left (center bears North 11°02'19" East and the chord

bears North 57°14'02" East 33.23 feet with a central angle of 87°36'34"); thence South 85°36'04"

East 58.95 feet; thence Northeasterly 164.46 feet along the arc of a 196.00 foot radius curve to the

right (center bears South 73°51'55" East and the chord bears North 40°10'23" East 159.68 feet with

a central angle of 48°04'37"); thence North 64°12'42" East 49.84 feet; thence Northeasterly 156.91

feet along the arc of a 721.00 foot radius curve to the right (center bears South 25°47'18" East and

the chord bears North 70°26'47" East 156.60 feet with a central angle of 12°28'09"); thence North

76°40'51" East 261.69 feet; thence Northeasterly 261.41 feet along the arc of a 1,887.00 foot radius

curve to the right (center bears South 13°19'09" East and the chord bears North 80°38'58" East

261.20 feet with a central angle of 07°56'14"); thence North 84°37'05" East 119.65 feet; thence

Northeasterly 89.19 feet along the arc of a 779.00 foot radius curve to the left (center bears North

05°22'55" West and the chord bears North 81°20'17" East 89.14 feet with a central angle of

06°33'37"); thence North 78°03'28" East 115.35 feet; thence Northeasterly 82.55 feet along the arc

of a 721.00 foot radius curve to the right (center bears South 11°56'32" East and the chord bears

North 81°20'16" East 82.51 feet with a central angle of 06°33'37"); thence North 84°37'01" East

175.77 feet; thence Northeasterly 794.21 feet along the arc of a 8,510.15 foot radius curve to the


a central angle of 05°20'50"); thence East 185.78 feet; thence Southeasterly 84.45 feet along the arc

of a 289.00 foot radius curve to the right (center bears South and the chord bears South 81°37'43"

East 84.15 feet with a central angle of 16°44'35"); thence South 73°15'25" East 67.92 feet; thence

Southeasterly 90.88 feet along the arc of a 311.00 foot radius curve to the left (center bears North

16°44'35" East and the chord bears South 81°37'42" East 90.56 feet with a central angle of

16°44'35"); thence East 76.91 feet to the Westerly Right-of-Way Line of said Morning Glory Road;

thence Southeasterly 40.84 feet along the arc of a 26.00 foot radius curve to the right (center bears

South and the chord bears South 45°00'00" East 36.77 feet with a central angle of 90°00'00") along

the Westerly Right-of-Way Line of said Morning Glory Road; thence South 31.14 feet along the

Westerly Right-of-Way Line of said Morning Glory Road; thence Southwesterly 550.31 feet along

the arc of a 595.00 foot radius curve to the right (center bears West and the chord bears South

26°29'46" West 530.90 feet with a central angle of 52°59'32"); thence South 52°59'32" West 283.02

feet along the Westerly Right-of-Way Line of said Morning Glory Road; thence Southwesterly

650.20 feet along the arc of a 705.00 foot radius curve to the left (center bears South 37°00'28" East

and the chord bears South 26°34'16" West 627.40 feet with a central angle of 52°50'32") along the

Westerly Right-of-Way Line of said Morning Glory Road; thence South 00°09'00" West 49.35 feet

along the Westerly Right-of-Way Line of said Morning Glory Road to the point of beginning.

Contains 3,532,162 Square Feet or 81.087 Acres

30

18

APPENDIX C: PROJECT AREA MAP

31

19

APPENDIX D: PROJECT AREA BUDGET

WEST TIMPANOGOS COMMUNITY DEVELOPMENT AREA

REDEVELOPMENT AGENCY OF LEHI

TAX INCREMENT REVENUE SUMMARY SCHEDULE 1

4/23/2013

CURRENT VALUATION REAL ESTATE PERSONAL PROPERTY TOTAL VALUE

BASE VALUES $6,448,875 $0 $6,448,875

TAX RATE 0.013066

BASE YEAR TAXES $84,261

TAX INCREMENT DISTRIBUTION BY TAXING ENTITY

YEAR REAL PERSONAL TOTAL INCREMENTAL TAX

PROPERTY PROPERTY VALUE RATE

TOTAL TAX

INCREMENT

Utah

County

Alpine

Sch. Dist.

Lehi

City

Lehi Metropolitan

Water Dist.

No. Utah County

Water Cons. Dist.

Central UT

Water Cons.

Taxing Entity

Pass-Thru

2012 $0 $0 $0 $0 0.013066

2013 $0 $0 $0 $0 0.013066

2014 $51,005,250 $0 $51,005,250 $44,556,375 0.013066

2015 $103,540,658 $0 $103,540,658 $97,091,783 0.013066

2016 $157,652,127 $0 $157,652,127 $151,203,252 0.013066

2017 $213,386,941 $0 $213,386,941 $206,938,066 0.013066

2018 $270,793,799 $0 $270,793,799 $264,344,924 0.013066

2019 $329,922,863 $0 $329,922,863 $323,473,988 0.013066

2020 $329,922,863 $0 $329,922,863 $323,473,988 0.013066

2021 $329,922,863 $0 $329,922,863 $323,473,988 0.013066

2022 $329,922,863 $0 $329,922,863 $323,473,988 0.013066

2023 $329,922,863 $0 $329,922,863 $323,473,988 0.013066

2024 $329,922,863 $0 $329,922,863 $323,473,988 0.013066

2025 $329,922,863 $0 $329,922,863 $323,473,988 0.013066

2026 $329,922,863 $0 $329,922,863 $323,473,988 0.013066

2027 $329,922,863 $0 $329,922,863 $323,473,988 0.013066

2028 $329,922,863 $0 $329,922,863 $323,473,988 0.013066

2029 $329,922,863 $0 $329,922,863 $323,473,988 0.013066

2030 $329,922,863 $0 $329,922,863 $323,473,988 0.013066

2031 $329,922,863 $0 $329,922,863 $323,473,988 0.013066

2032 $329,922,863 $0 $329,922,863 $323,473,988 0.013066

2033 $329,922,863 $0 $329,922,863 $323,473,988 0.013066

$0

$0

$582,175

$1,268,601

$1,975,622

$2,703,853

$3,453,931

$4,226,511

$4,226,511

$4,226,511

$4,226,511

$4,226,511

$4,226,511

$4,226,511

$4,226,511

$4,226,511

$4,226,511

$4,226,511

$4,226,511

$4,226,511

$4,226,511

$4,226,511

$0

$0

$29,109

$63,430

$98,781

$135,193

$172,697

$211,326

$211,326

$211,326

$211,326

$211,326

$211,326

$211,326

$211,326

$211,326

$211,326

$211,326

$211,326

$211,326

$211,326

$211,326

$0

$0

$97,092

$211,571

$329,484

$450,935

$576,029

$704,876

$704,876

$704,876

$704,876

$704,876

$704,876

$704,876

$704,876

$704,876

$704,876

$704,876

$704,876

$704,876

$704,876

$704,876

$0

$0

$56,849

$123,879

$192,919

$264,031

$337,276

$412,719

$412,719

$412,719

$412,719

$412,719

$412,719

$412,719

$412,719

$412,719

$412,719

$412,719

$412,719

$412,719

$412,719

$412,719

$0

$0

$291

$634

$988

$1,352

$1,727

$2,113

$2,113

$2,113

$2,113

$2,113

$2,113

$2,113

$2,113

$2,113

$2,113

$2,113

$2,113

$2,113

$2,113

$2,113

$0

$0

$640

$1,395

$2,173

$2,974

$3,799

$4,649

$4,649

$4,649

$4,649

$4,649

$4,649

$4,649

$4,649

$4,649

$4,649

$4,649

$4,649

$4,649

$4,649

$4,649

$0

$0

$10,013

$21,820

$33,981

$46,506

$59,408

$72,696

$72,696

$72,696

$72,696

$72,696

$72,696

$72,696

$72,696

$72,696

$72,696

$72,696

$72,696

$72,696

$72,696

$72,696

$0

$0

$388,181

$845,872

$1,317,296

$1,802,862

$2,302,995

$2,818,132

$2,818,132

$2,818,132

$2,818,132

$2,818,132

$2,818,132

$2,818,132

$2,818,132

$2,818,132

$2,818,132

$2,818,132

$2,818,132

$2,818,132

$2,818,132

$2,818,132

TOTAL $73,381,847 $3,669,092 $12,238,258 $7,165,737 $36,691 $80,720 $1,262,168 $48,929,186

32

20


REDEVELOPMENT AGENCY OF LEHI SCHEDULE 2

TAX INCREMENT DISTRIBUTION BY TAXING ENTITY 4/23/2013

OFFICE ONLY - 25% PARTICIPATION LEVEL - SCHOOL DISTRICT, 50% PARTICIPATION LEVEL - ALL OTHER TAXING ENTITIES

Utah

County

10.00%

Alpine

Sch. Dist.

66.71%

Lehi

City

19.53%

Lehi Metropolitan

Water Dist.

0.10%

No. Utah County

Water Cons. Dist.

0.22%

Central UT

Water Cons.

3.44%

Total

Total Tax Participation

Increment Level - 50%












Increment Level

Tax Year 1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

$58,217 $29,109

$126,860 $63,430

$197,562 $98,781

$270,385 $135,193

$345,393 $172,697

$422,651 $211,326

$422,651 $211,326

$422,651 $211,326

$422,651 $211,326

$422,651 $211,326

$422,651 $211,326

$422,651 $211,326

$422,651 $211,326

$422,651 $211,326

$422,651 $211,326

$422,651 $211,326

$422,651 $211,326

$422,651 $211,326

$422,651 $211,326

$422,651 $211,326

$388,368 $97,092

$846,284 $211,571

$1,317,937 $329,484

$1,803,740 $450,935

$2,304,117 $576,029

$2,819,506 $704,876

$2,819,506 $704,876

$2,819,506 $704,876

$2,819,506 $704,876

$2,819,506 $704,876

$2,819,506 $704,876

$2,819,506 $704,876

$2,819,506 $704,876

$2,819,506 $704,876

$2,819,506 $704,876

$2,819,506 $704,876

$2,819,506 $704,876

$2,819,506 $704,876

$2,819,506 $704,876

$2,819,506 $704,876

$113,699 $56,849

$247,758 $123,879

$385,839 $192,919

$528,062 $264,031

$674,553 $337,276

$825,438 $412,719

$825,438 $412,719

$825,438 $412,719

$825,438 $412,719

$825,438 $412,719

$825,438 $412,719

$825,438 $412,719

$825,438 $412,719

$825,438 $412,719

$825,438 $412,719

$825,438 $412,719

$825,438 $412,719

$825,438 $412,719

$825,438 $412,719

$825,438 $412,719

$582 $291

$1,269 $634

$1,976 $988

$2,704 $1,352

$3,454 $1,727

$4,227 $2,113

$4,227 $2,113

$4,227 $2,113

$4,227 $2,113

$4,227 $2,113

$4,227 $2,113

$4,227 $2,113

$4,227 $2,113

$4,227 $2,113

$4,227 $2,113

$4,227 $2,113

$4,227 $2,113

$4,227 $2,113

$4,227 $2,113

$4,227 $2,113

$1,281 $640

$2,791 $1,395

$4,346 $2,173

$5,948 $2,974

$7,599 $3,799

$9,298 $4,649

$9,298 $4,649

$9,298 $4,649

$9,298 $4,649

$9,298 $4,649

$9,298 $4,649

$9,298 $4,649

$9,298 $4,649

$9,298 $4,649

$9,298 $4,649

$9,298 $4,649

$9,298 $4,649

$9,298 $4,649

$9,298 $4,649

$9,298 $4,649

$20,027 $10,013

$43,640 $21,820

$67,961 $33,981

$93,013 $46,506

$118,815 $59,408

$145,392 $72,696

$145,392 $72,696

$145,392 $72,696

$145,392 $72,696

$145,392 $72,696

$145,392 $72,696

$145,392 $72,696

$145,392 $72,696

$145,392 $72,696

$145,392 $72,696

$145,392 $72,696

$145,392 $72,696

$145,392 $72,696

$145,392 $72,696

$145,392 $72,696

$582,174 $193,995

$1,268,601 $422,730

$1,975,622 $658,327

$2,703,853 $900,991

$3,453,931 $1,150,936

$4,226,511 $1,408,379

$4,226,511 $1,408,379

$4,226,511 $1,408,379

$4,226,511 $1,408,379

$4,226,511 $1,408,379

$4,226,511 $1,408,379

$4,226,511 $1,408,379

$4,226,511 $1,408,379

$4,226,511 $1,408,379

$4,226,511 $1,408,379

$4,226,511 $1,408,379

$4,226,511 $1,408,379

$4,226,511 $1,408,379

$4,226,511 $1,408,379

$4,226,511 $1,408,379

$7,338,185 $3,669,092 $48,953,030 $12,238,258 $14,331,475 $7,165,737 $73,382 $36,691 $161,440 $80,720 $2,524,336 $1,262,168 $73,381,847 $24,452,666

33



SUBJECTConsideration of Resolution #R2016-04 approving an Interlocal Agreement with Central Utah Water ConservancyDistrict regarding the West Timpanogos Community Development Project Area.Petitioner: Marlin Eldred, Economic Development Director


ATTACHMENTS Res R0216-04.docx Interlocal Agreement With Central Utah Water Conservancy District.doc West Timpanogos Project Area Plan.pdf

34


https://legistarweb-production.s3.amazonaws.com/uploads/attachment/pdf/34028/Interlocal_Agreement_With_Central_Utah_Water_Conservancy_District.pdf


4820-1491-6913 / SP009-001

Page 1


A RESOLUTION APPROVING AN INTERLOCAL AGREEMENT WITH CENTRAL UTAH WATER CONSERVANCY DISTRICT REGARDING THE WEST TIMPANOGOS

COMMUNITY DEVELOPMENT PROJECT AREA.


WHEREAS, the Lehi City Redevelopment Agency (the “Agency”) and Central Utah Water Conservancy District (the “Taxing Entity”) are public agencies for purposes of the Act; and

WHEREAS, after careful analysis and consideration of relevant information, the Agencydesires to enter into an Interlocal Agreement with Central Utah Water Conservancy District whereby the Taxing Entity consents to the Agency receiving and retaining. for an extended period of time, a portion of the tax increment produced by the Taxing Entity’s levy on real and personal property within the West Timpanogos Community Development Project Area, to assist in the development and of the Project Area as provided in the Project Area Plan; and






SECTION 5. Publishing of Notice. Upon full execution of the Interlocal Agreement, the Agency Secretary is directed to publish or cause to be published a notice of the Interlocal Agreement, in substantially the form attached as EXHIBIT B, as required by Section 11-13-219 of the Act and Section 17C-4-202 of the Utah Code, and to make a copy of the Interlocal Agreement

35

4820-1491-6913 / SP009-001

Page 2

available for public inspection and copying at the Agency’s offices during regular business hours for a period of at least 30 days following publication of the notice.


PASSED AND ADOPTED BY THE BOARD OF THE LEHI CITY REDEVELOPMENT AGENCY ON THIS 22nd DAY OF November, 2016.


Attest:

______________________________Jason Walker, Executive DirectorSecretary

36

EXHIBIT A


37

EXHIBIT B

NOTICE OF INTERLOCAL AGREEMENT BETWEEN THE LEHI CITY REDEVELOPMENT AGENCY AND CENTRAL UTAH WATER CONSERVANCY DISTRICT

The Lehi City Redevelopment Agency (the "Agency") and the Central Utah Water Conservancy District, Utah jointly provide this notice of an Interlocal Agreement entered into by and between the Agency and the Central Utah Water Conservancy District, in which the Central Utah Water Conservancy District consents to the Agency receiving and retaining a portion of the tax increment generated within the West Timpanogos Community Development Project Area for the purpose of facilitating development within the Project Area. A copy of the Interlocal Agreement is and will be available for public inspection and copying at the Agency offices located at 153 North 100 East, Lehi, Utah 84043, between the hours of 9:30 am and 5:00 pm, Monday through Friday, for a period of at least 30 days following the publication of this notice. During that 30-day period, any person in interest may contest the Interlocal Agreement, or the procedure used to adopt it, for failure to comply with any applicable statutory requirements. After that 30-Day Period, no person may contest the Interlocal Agreement for any cause.

38

1

WEST TIMPANOGOS



by and between the


and

Central Utah Water Conservancy District

THIS INTERLOCAL AGREEMENT is entered into as of this __ day of ___________, 2016, by and between the LEHI CITY REDEVELOPMENT AGENCY (the “Agency”) and Central Utah Water Conservancy District (the “Taxing Entity”) (collectively, the “Parties”).








2










40

3













4















42

5



By: ________________________________Name:Title:

ATTEST:

By:______________________________Name:Title:




43

6


Central Utah Water Conservancy District

By: ________________________________Name:Title:

ATTEST:

_________________________Name:Title:

Attorney Review for the Taxing Entity:The undersigned, as attorney for Central Utah Water Conservancy District, has reviewed the foregoing Interlocal Agreement and finds it to be in proper form and in compliance with applicable state law.

______________________________________Attorney for Central Utah Water Conservancy District

44

EXHIBIT A


PROJECT AREA PLAN

45



Prepared by


June, 2013

46

2

Table of Contents

1. Introduction 4

2. Definitions 4

















D. Approvals 9


[17C-4-103(4)] 9




[17C-4-103(5)] 10







Development 11




47

3

[17C-4-103(10)] 11


Analysis [17C-4-103(11)] 12







48

4

1. INTRODUCTION

































5




















6









PROJECT AREA





















51

7













Project Area.







[17C-4-103(3)]








and the City.





8












OBJECTIVES







53

9





OBJECTIVES


D. APPROVALS





the Project Area.













supplies. 54

10





























through year 2018.




55

11


























56

12















4-103(11)(a)]











Utah County 50% $ 3,669,092 $ 29,109

Lehi City 50% $ 7,165,737 $ 56,849



District

50% $ 80,720 $ 640


TOTAL $24,452,666 $193,995


[17C-4-103(11)(b)]


57

13



































58

14














59

15


Parcel

Number

Acres

110300081 0.17

110310135 0.15

110310141 36.15

110310142 0.36

110310162 0.96

110310164 0.63

110320401 9.56

110320403 0.87

110320416 0.04

110320420 2.64

532570001 9.45

533050007 5.07

533050008 0.12

534880001 13.27

534880003 1.91

60

16





































17








































62

18


63

19





4/23/2013


BASE VALUES $6,448,875 $0 $6,448,875

TAX RATE 0.013066





TOTAL TAX

INCREMENT

Utah

County

Alpine

Sch. Dist.

Lehi

City

Lehi Metropolitan

Water Dist.

No. Utah County

Water Cons. Dist.

Central UT

Water Cons.

Taxing Entity

Pass-Thru

2012 $0 $0 $0 $0 0.013066

2013 $0 $0 $0 $0 0.013066

2014 $51,005,250 $0 $51,005,250 $44,556,375 0.013066

2015 $103,540,658 $0 $103,540,658 $97,091,783 0.013066

2016 $157,652,127 $0 $157,652,127 $151,203,252 0.013066

2017 $213,386,941 $0 $213,386,941 $206,938,066 0.013066

2018 $270,793,799 $0 $270,793,799 $264,344,924 0.013066

2019 $329,922,863 $0 $329,922,863 $323,473,988 0.013066

2020 $329,922,863 $0 $329,922,863 $323,473,988 0.013066

2021 $329,922,863 $0 $329,922,863 $323,473,988 0.013066

2022 $329,922,863 $0 $329,922,863 $323,473,988 0.013066

2023 $329,922,863 $0 $329,922,863 $323,473,988 0.013066

2024 $329,922,863 $0 $329,922,863 $323,473,988 0.013066

2025 $329,922,863 $0 $329,922,863 $323,473,988 0.013066

2026 $329,922,863 $0 $329,922,863 $323,473,988 0.013066

2027 $329,922,863 $0 $329,922,863 $323,473,988 0.013066

2028 $329,922,863 $0 $329,922,863 $323,473,988 0.013066

2029 $329,922,863 $0 $329,922,863 $323,473,988 0.013066

2030 $329,922,863 $0 $329,922,863 $323,473,988 0.013066

2031 $329,922,863 $0 $329,922,863 $323,473,988 0.013066

2032 $329,922,863 $0 $329,922,863 $323,473,988 0.013066

2033 $329,922,863 $0 $329,922,863 $323,473,988 0.013066

$0

$0

$582,175

$1,268,601

$1,975,622

$2,703,853

$3,453,931

$4,226,511

$4,226,511

$4,226,511

$4,226,511

$4,226,511

$4,226,511

$4,226,511

$4,226,511

$4,226,511

$4,226,511

$4,226,511

$4,226,511

$4,226,511

$4,226,511

$4,226,511

$0

$0

$29,109

$63,430

$98,781

$135,193

$172,697

$211,326

$211,326

$211,326

$211,326

$211,326

$211,326

$211,326

$211,326

$211,326

$211,326

$211,326

$211,326

$211,326

$211,326

$211,326

$0

$0

$97,092

$211,571

$329,484

$450,935

$576,029

$704,876

$704,876

$704,876

$704,876

$704,876

$704,876

$704,876

$704,876

$704,876

$704,876

$704,876

$704,876

$704,876

$704,876

$704,876

$0

$0

$56,849

$123,879

$192,919

$264,031

$337,276

$412,719

$412,719

$412,719

$412,719

$412,719

$412,719

$412,719

$412,719

$412,719

$412,719

$412,719

$412,719

$412,719

$412,719

$412,719

$0

$0

$291

$634

$988

$1,352

$1,727

$2,113

$2,113

$2,113

$2,113

$2,113

$2,113

$2,113

$2,113

$2,113

$2,113

$2,113

$2,113

$2,113

$2,113

$2,113

$0

$0

$640

$1,395

$2,173

$2,974

$3,799

$4,649

$4,649

$4,649

$4,649

$4,649

$4,649

$4,649

$4,649

$4,649

$4,649

$4,649

$4,649

$4,649

$4,649

$4,649

$0

$0

$10,013

$21,820

$33,981

$46,506

$59,408

$72,696

$72,696

$72,696

$72,696

$72,696

$72,696

$72,696

$72,696

$72,696

$72,696

$72,696

$72,696

$72,696

$72,696

$72,696

$0

$0

$388,181

$845,872

$1,317,296

$1,802,862

$2,302,995

$2,818,132

$2,818,132

$2,818,132

$2,818,132

$2,818,132

$2,818,132

$2,818,132

$2,818,132

$2,818,132

$2,818,132

$2,818,132

$2,818,132

$2,818,132

$2,818,132

$2,818,132

TOTAL $73,381,847 $3,669,092 $12,238,258 $7,165,737 $36,691 $80,720 $1,262,168 $48,929,186

64

20





Utah

County

10.00%

Alpine

Sch. Dist.

66.71%

Lehi

City

19.53%

Lehi Metropolitan

Water Dist.

0.10%

No. Utah County

Water Cons. Dist.

0.22%

Central UT

Water Cons.

3.44%

Total














Increment Level

Tax Year 1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

$58,217 $29,109

$126,860 $63,430

$197,562 $98,781

$270,385 $135,193

$345,393 $172,697

$422,651 $211,326

$422,651 $211,326

$422,651 $211,326

$422,651 $211,326

$422,651 $211,326

$422,651 $211,326

$422,651 $211,326

$422,651 $211,326

$422,651 $211,326

$422,651 $211,326

$422,651 $211,326

$422,651 $211,326

$422,651 $211,326

$422,651 $211,326

$422,651 $211,326

$388,368 $97,092

$846,284 $211,571

$1,317,937 $329,484

$1,803,740 $450,935

$2,304,117 $576,029

$2,819,506 $704,876

$2,819,506 $704,876

$2,819,506 $704,876

$2,819,506 $704,876

$2,819,506 $704,876

$2,819,506 $704,876

$2,819,506 $704,876

$2,819,506 $704,876

$2,819,506 $704,876

$2,819,506 $704,876

$2,819,506 $704,876

$2,819,506 $704,876

$2,819,506 $704,876

$2,819,506 $704,876

$2,819,506 $704,876

$113,699 $56,849

$247,758 $123,879

$385,839 $192,919

$528,062 $264,031

$674,553 $337,276

$825,438 $412,719

$825,438 $412,719

$825,438 $412,719

$825,438 $412,719

$825,438 $412,719

$825,438 $412,719

$825,438 $412,719

$825,438 $412,719

$825,438 $412,719

$825,438 $412,719

$825,438 $412,719

$825,438 $412,719

$825,438 $412,719

$825,438 $412,719

$825,438 $412,719

$582 $291

$1,269 $634

$1,976 $988

$2,704 $1,352

$3,454 $1,727

$4,227 $2,113

$4,227 $2,113

$4,227 $2,113

$4,227 $2,113

$4,227 $2,113

$4,227 $2,113

$4,227 $2,113

$4,227 $2,113

$4,227 $2,113

$4,227 $2,113

$4,227 $2,113

$4,227 $2,113

$4,227 $2,113

$4,227 $2,113

$4,227 $2,113

$1,281 $640

$2,791 $1,395

$4,346 $2,173

$5,948 $2,974

$7,599 $3,799

$9,298 $4,649

$9,298 $4,649

$9,298 $4,649

$9,298 $4,649

$9,298 $4,649

$9,298 $4,649

$9,298 $4,649

$9,298 $4,649

$9,298 $4,649

$9,298 $4,649

$9,298 $4,649

$9,298 $4,649

$9,298 $4,649

$9,298 $4,649

$9,298 $4,649

$20,027 $10,013

$43,640 $21,820

$67,961 $33,981

$93,013 $46,506

$118,815 $59,408

$145,392 $72,696

$145,392 $72,696

$145,392 $72,696

$145,392 $72,696

$145,392 $72,696

$145,392 $72,696

$145,392 $72,696

$145,392 $72,696

$145,392 $72,696

$145,392 $72,696

$145,392 $72,696

$145,392 $72,696

$145,392 $72,696

$145,392 $72,696

$145,392 $72,696

$582,174 $193,995

$1,268,601 $422,730

$1,975,622 $658,327

$2,703,853 $900,991

$3,453,931 $1,150,936

$4,226,511 $1,408,379

$4,226,511 $1,408,379

$4,226,511 $1,408,379

$4,226,511 $1,408,379

$4,226,511 $1,408,379

$4,226,511 $1,408,379

$4,226,511 $1,408,379

$4,226,511 $1,408,379

$4,226,511 $1,408,379

$4,226,511 $1,408,379

$4,226,511 $1,408,379

$4,226,511 $1,408,379

$4,226,511 $1,408,379

$4,226,511 $1,408,379

$4,226,511 $1,408,379

$7,338,185 $3,669,092 $48,953,030 $12,238,258 $14,331,475 $7,165,737 $73,382 $36,691 $161,440 $80,720 $2,524,336 $1,262,168 $73,381,847 $24,452,666

65



SUBJECTConsideration of Resolution #R2016-05 approving an Interlocal Agreement with Lehi Metropolitan Water Districtregarding the West Timpanogos Community Development Project Area.Petitioner: Marlin Eldred, Economic Development Director


ATTACHMENTS Res R0216-05.docx Interlocal Agreement With Lehi Metropolitan Water District.doc West Timpanogos Project Area Plan.pdf

66


https://legistarweb-production.s3.amazonaws.com/uploads/attachment/pdf/34030/Interlocal_Agreement_With_Lehi_Metropolitan_Water_District.pdf


4820-1491-6913 / SP009-001

Page 1


A RESOLUTION APPROVING AN INTERLOCAL AGREEMENT WITH LEHI METROPOLITAN WATER DISTRICT REGARDING THE WEST TIMPANOGOS

COMMUNITY DEVELOPMENT PROJECT AREA.


WHEREAS, the Lehi City Redevelopment Agency (the “Agency”) and Lehi Metropolitan Water District (the “Taxing Entity”) are public agencies for purposes of the Act; and

WHEREAS, after careful analysis and consideration of relevant information, the Agencydesires to enter into an Interlocal Agreement with Lehi Metropolitan Water District whereby the Taxing Entity consents to the Agency receiving and retaining. for an extended period of time, a portion of the tax increment produced by the Taxing Entity’s levy on real and personal property within the West Timpanogos Community Development Project Area, to assist in the development and of the Project Area as provided in the Project Area Plan; and






SECTION 5. Publishing of Notice. Upon full execution of the Interlocal Agreement, the Agency Secretary is directed to publish or cause to be published a notice of the Interlocal Agreement, in substantially the form attached as EXHIBIT B, as required by Section 11-13-219 of the Act and Section 17C-4-202 of the Utah Code, and to make a copy of the Interlocal Agreement

67

4820-1491-6913 / SP009-001

Page 2

available for public inspection and copying at the Agency’s offices during regular business hours for a period of at least 30 days following publication of the notice.


PASSED AND ADOPTED BY THE BOARD OF THE LEHI CITY REDEVELOPMENT AGENCY ON THIS 22nd DAY OF NOVEMBER, 2016.


Attest:

______________________________Jason Walker, Executive Director

68

EXHIBIT A


69

EXHIBIT B

NOTICE OF INTERLOCAL AGREEMENT BETWEEN THE LEHI CITY REDEVELOPMENT AGENCY AND LEHI METROPOLITAN WATER DISTRICT

The Lehi City Redevelopment Agency (the "Agency") and the Lehi Metropolitan Water District, Utah jointly provide this notice of an Interlocal Agreement entered into by and between the Agency and the Lehi Metropolitan Water District, in which the Lehi Metropolitan Water District consents to the Agency receiving and retaining a portion of the tax increment generated within the West Timpanogos Community Development Project Area for the purpose of facilitating development within the Project Area. A copy of the Interlocal Agreement is and will be available for public inspection and copying at the Agency offices located at 153 North 100 East, Lehi, Utah 84043, between the hours of 9:30 am and 5:00 pm, Monday through Friday, for a period of at least 30 days following the publication of this notice. During that 30-day period, any person in interest may contest the Interlocal Agreement, or the procedure used to adopt it, for failure to comply with any applicable statutory requirements. After that 30-Day Period, no person may contest the Interlocal Agreement for any cause.

70

1

WEST TIMPANOGOS



by and between the


and

Lehi Metropolitan Water District

THIS INTERLOCAL AGREEMENT is entered into as of this __ day of ___________, 2016, by and between the LEHI CITY REDEVELOPMENT AGENCY (the “Agency”) and Lehi Metropolitan Water District (the “Taxing Entity”) (collectively, the “Parties”).








2










72

3













4















74

5



By: ________________________________Name:Title:

ATTEST:

By:______________________________Name:Title:




75

6


Lehi Metropolitan Water District

By: ________________________________Name:Title:

ATTEST:

_________________________Name:Title:

Attorney Review for the Taxing Entity:The undersigned, as attorney for Lehi Metropolitan Water District, has reviewed the foregoing Interlocal Agreement and finds it to be in proper form and in compliance with applicable state law.

______________________________________Attorney for Lehi Metropolitan Water District

76

EXHIBIT A


PROJECT AREA PLAN

77



Prepared by


June, 2013

78

2

Table of Contents

1. Introduction 4

2. Definitions 4

















D. Approvals 9


[17C-4-103(4)] 9




[17C-4-103(5)] 10







Development 11




79

3

[17C-4-103(10)] 11


Analysis [17C-4-103(11)] 12







80

4

1. INTRODUCTION

































5




















6









PROJECT AREA





















83

7













Project Area.







[17C-4-103(3)]








and the City.





8












OBJECTIVES







85

9





OBJECTIVES


D. APPROVALS





the Project Area.













supplies. 86

10





























through year 2018.




87

11


























88

12















4-103(11)(a)]











Utah County 50% $ 3,669,092 $ 29,109

Lehi City 50% $ 7,165,737 $ 56,849



District

50% $ 80,720 $ 640


TOTAL $24,452,666 $193,995


[17C-4-103(11)(b)]


89

13



































90

14














91

15


Parcel

Number

Acres

110300081 0.17

110310135 0.15

110310141 36.15

110310142 0.36

110310162 0.96

110310164 0.63

110320401 9.56

110320403 0.87

110320416 0.04

110320420 2.64

532570001 9.45

533050007 5.07

533050008 0.12

534880001 13.27

534880003 1.91

92

16





































17








































94

18


95

19





4/23/2013


BASE VALUES $6,448,875 $0 $6,448,875

TAX RATE 0.013066





TOTAL TAX

INCREMENT

Utah

County

Alpine

Sch. Dist.

Lehi

City

Lehi Metropolitan

Water Dist.

No. Utah County

Water Cons. Dist.

Central UT

Water Cons.

Taxing Entity

Pass-Thru

2012 $0 $0 $0 $0 0.013066

2013 $0 $0 $0 $0 0.013066

2014 $51,005,250 $0 $51,005,250 $44,556,375 0.013066

2015 $103,540,658 $0 $103,540,658 $97,091,783 0.013066

2016 $157,652,127 $0 $157,652,127 $151,203,252 0.013066

2017 $213,386,941 $0 $213,386,941 $206,938,066 0.013066

2018 $270,793,799 $0 $270,793,799 $264,344,924 0.013066

2019 $329,922,863 $0 $329,922,863 $323,473,988 0.013066

2020 $329,922,863 $0 $329,922,863 $323,473,988 0.013066

2021 $329,922,863 $0 $329,922,863 $323,473,988 0.013066

2022 $329,922,863 $0 $329,922,863 $323,473,988 0.013066

2023 $329,922,863 $0 $329,922,863 $323,473,988 0.013066

2024 $329,922,863 $0 $329,922,863 $323,473,988 0.013066

2025 $329,922,863 $0 $329,922,863 $323,473,988 0.013066

2026 $329,922,863 $0 $329,922,863 $323,473,988 0.013066

2027 $329,922,863 $0 $329,922,863 $323,473,988 0.013066

2028 $329,922,863 $0 $329,922,863 $323,473,988 0.013066

2029 $329,922,863 $0 $329,922,863 $323,473,988 0.013066

2030 $329,922,863 $0 $329,922,863 $323,473,988 0.013066

2031 $329,922,863 $0 $329,922,863 $323,473,988 0.013066

2032 $329,922,863 $0 $329,922,863 $323,473,988 0.013066

2033 $329,922,863 $0 $329,922,863 $323,473,988 0.013066

$0

$0

$582,175

$1,268,601

$1,975,622

$2,703,853

$3,453,931

$4,226,511

$4,226,511

$4,226,511

$4,226,511

$4,226,511

$4,226,511

$4,226,511

$4,226,511

$4,226,511

$4,226,511

$4,226,511

$4,226,511

$4,226,511

$4,226,511

$4,226,511

$0

$0

$29,109

$63,430

$98,781

$135,193

$172,697

$211,326

$211,326

$211,326

$211,326

$211,326

$211,326

$211,326

$211,326

$211,326

$211,326

$211,326

$211,326

$211,326

$211,326

$211,326

$0

$0

$97,092

$211,571

$329,484

$450,935

$576,029

$704,876

$704,876

$704,876

$704,876

$704,876

$704,876

$704,876

$704,876

$704,876

$704,876

$704,876

$704,876

$704,876

$704,876

$704,876

$0

$0

$56,849

$123,879

$192,919

$264,031

$337,276

$412,719

$412,719

$412,719

$412,719

$412,719

$412,719

$412,719

$412,719

$412,719

$412,719

$412,719

$412,719

$412,719

$412,719

$412,719

$0

$0

$291

$634

$988

$1,352

$1,727

$2,113

$2,113

$2,113

$2,113

$2,113

$2,113

$2,113

$2,113

$2,113

$2,113

$2,113

$2,113

$2,113

$2,113

$2,113

$0

$0

$640

$1,395

$2,173

$2,974

$3,799

$4,649

$4,649

$4,649

$4,649

$4,649

$4,649

$4,649

$4,649

$4,649

$4,649

$4,649

$4,649

$4,649

$4,649

$4,649

$0

$0

$10,013

$21,820

$33,981

$46,506

$59,408

$72,696

$72,696

$72,696

$72,696

$72,696

$72,696

$72,696

$72,696

$72,696

$72,696

$72,696

$72,696

$72,696

$72,696

$72,696

$0

$0

$388,181

$845,872

$1,317,296

$1,802,862

$2,302,995

$2,818,132

$2,818,132

$2,818,132

$2,818,132

$2,818,132

$2,818,132

$2,818,132

$2,818,132

$2,818,132

$2,818,132

$2,818,132

$2,818,132

$2,818,132

$2,818,132

$2,818,132

TOTAL $73,381,847 $3,669,092 $12,238,258 $7,165,737 $36,691 $80,720 $1,262,168 $48,929,186

96

20





Utah

County

10.00%

Alpine

Sch. Dist.

66.71%

Lehi

City

19.53%

Lehi Metropolitan

Water Dist.

0.10%

No. Utah County

Water Cons. Dist.

0.22%

Central UT

Water Cons.

3.44%

Total














Increment Level

Tax Year 1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

$58,217 $29,109

$126,860 $63,430

$197,562 $98,781

$270,385 $135,193

$345,393 $172,697

$422,651 $211,326

$422,651 $211,326

$422,651 $211,326

$422,651 $211,326

$422,651 $211,326

$422,651 $211,326

$422,651 $211,326

$422,651 $211,326

$422,651 $211,326

$422,651 $211,326

$422,651 $211,326

$422,651 $211,326

$422,651 $211,326

$422,651 $211,326

$422,651 $211,326

$388,368 $97,092

$846,284 $211,571

$1,317,937 $329,484

$1,803,740 $450,935

$2,304,117 $576,029

$2,819,506 $704,876

$2,819,506 $704,876

$2,819,506 $704,876

$2,819,506 $704,876

$2,819,506 $704,876

$2,819,506 $704,876

$2,819,506 $704,876

$2,819,506 $704,876

$2,819,506 $704,876

$2,819,506 $704,876

$2,819,506 $704,876

$2,819,506 $704,876

$2,819,506 $704,876

$2,819,506 $704,876

$2,819,506 $704,876

$113,699 $56,849

$247,758 $123,879

$385,839 $192,919

$528,062 $264,031

$674,553 $337,276

$825,438 $412,719

$825,438 $412,719

$825,438 $412,719

$825,438 $412,719

$825,438 $412,719

$825,438 $412,719

$825,438 $412,719

$825,438 $412,719

$825,438 $412,719

$825,438 $412,719

$825,438 $412,719

$825,438 $412,719

$825,438 $412,719

$825,438 $412,719

$825,438 $412,719

$582 $291

$1,269 $634

$1,976 $988

$2,704 $1,352

$3,454 $1,727

$4,227 $2,113

$4,227 $2,113

$4,227 $2,113

$4,227 $2,113

$4,227 $2,113

$4,227 $2,113

$4,227 $2,113

$4,227 $2,113

$4,227 $2,113

$4,227 $2,113

$4,227 $2,113

$4,227 $2,113

$4,227 $2,113

$4,227 $2,113

$4,227 $2,113

$1,281 $640

$2,791 $1,395

$4,346 $2,173

$5,948 $2,974

$7,599 $3,799

$9,298 $4,649

$9,298 $4,649

$9,298 $4,649

$9,298 $4,649

$9,298 $4,649

$9,298 $4,649

$9,298 $4,649

$9,298 $4,649

$9,298 $4,649

$9,298 $4,649

$9,298 $4,649

$9,298 $4,649

$9,298 $4,649

$9,298 $4,649

$9,298 $4,649

$20,027 $10,013

$43,640 $21,820

$67,961 $33,981

$93,013 $46,506

$118,815 $59,408

$145,392 $72,696

$145,392 $72,696

$145,392 $72,696

$145,392 $72,696

$145,392 $72,696

$145,392 $72,696

$145,392 $72,696

$145,392 $72,696

$145,392 $72,696

$145,392 $72,696

$145,392 $72,696

$145,392 $72,696

$145,392 $72,696

$145,392 $72,696

$145,392 $72,696

$582,174 $193,995

$1,268,601 $422,730

$1,975,622 $658,327

$2,703,853 $900,991

$3,453,931 $1,150,936

$4,226,511 $1,408,379

$4,226,511 $1,408,379

$4,226,511 $1,408,379

$4,226,511 $1,408,379

$4,226,511 $1,408,379

$4,226,511 $1,408,379

$4,226,511 $1,408,379

$4,226,511 $1,408,379

$4,226,511 $1,408,379

$4,226,511 $1,408,379

$4,226,511 $1,408,379

$4,226,511 $1,408,379

$4,226,511 $1,408,379

$4,226,511 $1,408,379

$4,226,511 $1,408,379

$7,338,185 $3,669,092 $48,953,030 $12,238,258 $14,331,475 $7,165,737 $73,382 $36,691 $161,440 $80,720 $2,524,336 $1,262,168 $73,381,847 $24,452,666

97

Documents

Lehi Redevelopment Agency of Lehi Meeting …...Lehi Redevelopment Agency of Lehi Meeting Agenda November 22, 2016 7:00 PM - Lehi City Council Chambers, (163 N. 100 E., Lehi, UT 84043)