Magna Commerce Park COMMUNITY DEVELOPMENT AREA PROJECT ... · established pursuant to law or charter. k. "Project area" means the geographic area described in a project area plan

Magna Commerce Park

COMMUNITY DEVELOPMENT AREA

PROJECT PLAN

May 24, 2016

By: GSBS Consulting

REDEVELOPMENT AGENCY OF SALT LAKE COUNTY

Community Development Plan


TABLE OF CONTENTS

1. Introduction & Overview 1 2. Recitals of Preconditions for Designating a Community Development Project Area 2 3. Definitions 2 4. Description of the Proposed Community Development Area 3 5. A Summary of Land Use, Principal Streets, Population Densities, Building Intensities and the Conceptual Plan for the Proposed Project Area 3 6. Standards Guiding Development 5 7. How the Purposes of State Law would be Attained by the Community Development 5 8. Conformance of the Proposed Community Development to the Community’s General Plan 6 9. Community Development Purposes and Objectives 7 10. Description of the Specific Project that is the Object of Proposed Community Development 7 11. Method of Selection of Private Developers to Undertake Community Development 11 12. Reasons for Selection of Project Area 12 13. Description of Physical, Social and Economic Conditions Existing in the Project Area 12 14. Description of Tax Incentives Offered 12 15. Benefits Analysis 13 16. Review of Community Development Proposals 13 17. Implementing the Plan 14 18. Project Financing 16

19. Provisions for Amending Plan 16

TABLE OF EXHIBITS

A. Project Area Map 18

B. Project Area Legal Description 19

C. Project Area Zoning Map 22

D. Supporting Documents 23

E. Project Area Budget 24


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1. Introduction and Overview

The SR 201 corridor in Salt Lake County has traditionally attracted commercial, distribution and industrial development. The area has undergone significant investment in highway-served and rail-served uses. Investment in these transportation uses along the SR 201 corridor has occurred in Salt Lake City and West Valley City to the east of Magna. Continued development of the corridor is anticipated as the Salt Lake area continues to grow and attract investment. The Magna Commerce Park Community Development Area (CDA) property to the north and south of SR 201 between 7200 West and 8000 West in Magna, Salt Lake County, Utah has attracted limited investment and development but is now ideally placed to generate continued investment in commercial, distribution and industrial uses along this key commercial corridor if underlying infrastructure and circulation needs are addressed. This Magna Commerce Park CDA Project Plan has been drafted and adopted under Title 17C of the Utah Code Annotated of the Community Development and Renewal Agencies Act effective May 9, 2016 and in accordance with the newly-revised Title 17C, renamed the Community Reinvestment Agency Act effective May 10, 2016. The Board of Directors for the Redevelopment Agency of Salt Lake County unanimously approved Resolution No. 95 on March 22, 2016 prior to April 1, 2016 in accordance with the requirements of Utah Code Annotated § 17C-1-102.5(3)(a)(iii) and adopted the Magna Commerce Park CDA Project Plan on May 24, 2016 prior to September 1, 2016 in accordance with the requirements of Utah Code Annotated § 17C-1-102.5(3)(b). The proposed and adopted Magna Commerce Park CDA Project Plan was drafted in conformance with the requirements of Utah Code Annotated § 17C-4-103 for a project area as defined on the map included as Exhibit A. The CDA’s project boundaries extends west from 7200 West to 8000 West and approximately 2100 South on the north and approximately 2700 South on the south. Creation of the Magna Commerce Park CDA will allow the Agency to capture and reinvest marginal property tax funds in the project area to provide necessary infrastructure and public amenities to attract community and economic development opportunities in the area. The primary purpose of the project area is to enhance commercial opportunities, provide a gateway and allow internal circulation in the area. Community and economic development within the proposed project area will also provide tools to increase the overall viability of the Magna Township.


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2. Recitals of Preconditions for Designating a Community Development Project Area

a. Pursuant to the provisions of § 17C-4-101.5 of Title 17C of the Community Reinvestment

Agency Act (“Act”), the governing body of the Redevelopment Agency of Salt Lake County ("Agency") authorized, by resolution, preparation of a draft project area plan for the area north and south of SR-201 between 7200 and 8000 West on March, 22 2016;

b. Pursuant to the provisions of § 17C-4-102(1)(a) of the Act, the Agency has prepared a

proposed community development project area plan and conducted appropriate examination, investigation and negotiation regarding the project area plan;

c. Pursuant to the provisions of § 17C-4-102(1)(b) of the Act, the Agency has made a draft of

the project area plan available to the public at the agency’s offices during normal business

hours, provided notice of the plan hearing and held a public hearing on the draft plan on

May 24, 2016; and d. Pursuant to the provisions of § 17C-4-101.2 the Resolution authorizing preparation of a

community development proposed project area plan was adopted prior to April 1, 2016 and the project area plan is effective prior to September 1, 2016.

3. Definitions

As used in this Community Development Project Plan:

a. "Act" the current Utah Community Reinvestment Agencies Act as found in Title 17C, Utah

Code Annotated 1953, as amended, or such other amendments as shall from time to time be

enacted or any successor law or act.

b. "Agency" means the Redevelopment Agency of Salt Lake County as designated by the County to act as the Community Development and Renewal Agency.

c. "Base tax amount" means the taxable value of the property within a project area from which tax increment will be collected, as established in accordance with § 17C-4-201 of the Act.

d. "Bond" means any bonds, notes, interim certificates, debentures, or other obligations issued

by the Agency. e. "County" means Salt Lake County. f. "Community" means the County. g. “Community Development“ means development activities within a community, including the

encouragement, promotion, or provision of development. h. "Legislative body" means the County Council of Salt Lake County which is the legislative body

of the community.


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i. “Plan hearing” means the public hearing on a proposed project area plan required under § 17C-4-102(1)(d) of the Act.

j. "Planning commission" means the Salt Lake County Planning and Zoning Commission

established pursuant to law or charter. k. "Project area" means the geographic area described in a project area plan or proposed

project area plan where the community development set forth in this project area plan takes place or is proposed to take place.

l. "Project area plan" means a written plan that, after its effective date, guides and controls

community development activities within the project area. In most contexts, project area plan refers to this document and all of the attachments to this document.

m. "Tax increment" means the difference between the amount of property tax revenues

generated each tax year by all taxing entities in accordance with all resolutions and/or interlocal agreements approved or adopted under § 17C-4-201(2) of the Act from the area within a project area designated in the project area plan as the area from which tax increment is to be collected, using the agreed base year and agreed base taxable value and the amount of property tax revenues that would be generated from that same area using the base taxable value of the property.

4. Description of the Proposed Community Development Area

a. Map of the Project Area

The map of the Project Area is attached as Exhibit "A" and incorporated herein. The general boundaries of the approximately 547-acre project area are between 7200 West and 8000 West and 2700 South and 2100 South in Magna Township, Salt Lake County, Utah. Highway SR-201 is included within the project area.

b. Legal Description

A legal description of the area is attached as Exhibit “B” and made a part of this plan.

5. A Summary of Land Use, Principal Streets, Population Densities, Building Intensities and the

Conceptual Plan for the Proposed Project Area

a. Existing Land Use Map

A map of existing zoning in the project area is included as Exhibit “C” and made a part of this plan. It indicates the layout of principal streets serving the area. Highway SR 201 is the primary transportation corridor within the project area. Arterials 7200 West and 8000 West form the boundaries of the area. Internal circulation within the project area is limited by the lack of neighborhood level streets. There is also limited power, water, sewer and other public services within the project area.


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Principal land uses in the area include industrial, manufacturing and some limited residential uses on agriculturally zoned property. Residential uses are primarily served by water wells. In some cases water wells have been contaminated by industrial uses in other parts of the valley and residents are now required to use bottled water as their potable water source. The area to the north of the proposed project area is industrial and manufacturing. Approximately five miles to the north is the site of the new Utah State Prison planned for construction in the next five years. The eastern boundary of the proposed project area is 7200 West which will, if extended and completed, will connect to the new Prison site. The area east of the proposed project area north of SR 201 is primarily industrial and manufacturing. The area immediately east of the proposed project area south of SR 201 is low-density residential with additional industrial, warehousing and distribution uses further east near 6200 West. The area west of the proposed project area north of SR 201 is the Kennecott Copper Utah tailings pile and associated buffer properties. The area west of the proposed project area south of SR 201 is low-density residential. Low density residential neighborhoods are also south of the proposed project area. There is also a public charter school located immediately south of the proposed project boundary on 7200 West.

b. Population Densities

The project area is primarily industrial and open space, and includes six single-family housing units. To the south there are low-density residential neighborhoods adjacent to the area.

Population densities adjacent to the project area are very low to the north, east and west and low to the south.

c. Building Intensities

Building intensity is very low. There are several industrial structures scattered throughout the site. There are six residential structures in the project boundary. Residential buildings in the area to the south are generally single-and two-story units.


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d. Impact of Community Development on Land Use, Population Densities and Building Intensities

i. Conceptual Plan

The proposed project area plan anticipates the development of industrial space to the north of the canal and north of Highway SR 201. To the south of the canal, the proposed plan anticipates development of housing compatible with existing neighborhoods. The plan will utilize the canal that bisects the project area near the south side as a buffer between residential and commercial uses. The buffer area is also anticipated to include a trail adjacent to the canal connecting 7200 West and 8000 West. All or part of the canal may be relocated to enhance the buffer or improve buildable lot areas.

ii. Impact of Community Development

Community development will consist of a combination of public infrastructure improvements, low interest loans or grants, installation of trails and development of vacant or underutilized areas in the Project Area.

6. Standards Guiding Development

In order to provide maximum flexibility in the development of the Project Area, and to encourage and obtain the highest quality in development and design, specific development controls for the uses identified above are not set forth herein. Each development proposal in the Project Area will be subject to:

appropriate elements of Salt Lake County’s General Plan;

the Zoning Ordinance of the County;

deed restrictions if the property is acquired and resold by the RDA or other project partners;

other applicable building codes and ordinances of the County; and,

as required by ordinance or agreement, review and recommendation of the Salt Lake County Planning and Zoning Commission and approval by the Agency and may also include input from Magna stakeholders, local community councils, or associated chamber groups.

Development proposals shall be accompanied by site plans, development data and other appropriate material that clearly describe the extent of development proposed, and any other data determined necessary or requested.

7. How the Purposes of State Law would be Attained by the Community Development

The purposes of the Act will be attained as a result of the proposed community development project by accomplishing the following items:


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a. Planning, Design, Development, Demolition, Clearance, Construction, Rehabilitation, or any Combination.

The proposed community development project includes a combination of planning, design, development, demolition, construction, and rehabilitation of public infrastructure and structures and property within the project area.

b. The Provision of Residential, Commercial, Public or any Combination of These Uses

The proposed community development project is a development containing recreation, residential, and industrial uses.

c. Provision of Public Infrastructure

The proposed community development project will install new infrastructure in an area that will serve new industrial and residential development. In addition, access will be improved to support future development. Other projects may be undertaken to enhance the economic viability of the area.

8. Conformance of the Proposed Community Development to the Community’s General Plan

Proposed community development projects shall conform to the general plan of the County in the following respects:

a. Zoning Ordinances

The property is currently zoned A-1 and A-20, and M-1 and M-20. The currently permitted land uses in the area will not be changed as a result of this plan except for increases in the diversity of open space, recreational, residential, commercial and industrial uses within the Project Area. However, the County may or may not determine to approve zoning ordinance amendments in order to aid in or promote community development, including the addition of other commercial or retail uses or for other reasons. Such changes require separate applications and public hearings.

b. Conceptual Plan

The Magna Township General Plan adopted in 2012 identifies creation of tax increment producing areas such a Community Development Project Areas as a best practice and primary tool to encourage community and economic development in Magna. Encouraging development here could provide needed jobs and services to the residents of Magna and also improve the overall tax base of the Township.

In addition, the 2012 General Plan identifies the 7200 West and 8400 West corridors for improvement and public investment.


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c. Building Code

The proposed project will be constructed in accordance with the building codes of Salt Lake County. In addition, new and refurbished buildings accessing project funds may be required to meet higher standards such as LEED silver or energy star criteria as appropriate.

9. Community Development Purposes and Objectives

Title 17C of the Utah Code contains no explicit statement of purpose for Community Development Project Areas although the definition of Community Development states that Community Development includes the encouragement, promotion or provision of development.

The proposed Magna Commerce Park Community Development Project Area furthers the purposes of Title 17C by:

Promoting investment in infrastructure improvements,

Encouraging development in Magna by attracting investment from private sources, and

Increasing the diversity of the tax base in the area.

The real property located within the proposed Project Area is intended to be used for the construction or improvement of commercial, recreational and residential structures.

10. Description of the Specific Project that is the Object of Proposed Community Development

There are approximately 609 acres within the boundaries of the proposed Community Development Project Area. The approximate boundaries of the project area are the properties between 7200 West and 8400 West north of SR 201 to approximately 2100 South, the properties south of SR 201 to approximately 2600 South. The area includes significant acreage dedicated to SR 201. Approximately 547 acres of the area are included in publicly- and privately- owned parcels. An additional 167 acres are not suitable for development as a result of the presence of wetlands or the need for a buffer area for the Kennecott tailings impoundment. Approximately 381 acres of the area are available for development. Current land uses in the project area include industrial, general commercial, and residential. Parcels within the project area are owned by the following property owners:

Parcel # Owner Acres

14-16-351-003-0000 KENNECOTT UTAH COPPER CORPORATION 0.62







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14-16-353-006-0000 MICHAEL, DONALD D; ET AL 0.11




14-16-354-001-0000 KENNECOTT UTAH COPPER, LLC 0.18





14-21-101-002-0000 NORCROSS, MARLENE A; TR 0.70

14-21-101-003-0000 NORCROSS, MARLENE A & CHARLES B; TRS 0.63

14-21-101-005-0000 NORCROSS, MARLENE A & CHARLES B; TRS 0.99

14-21-101-006-0000 KENNECOTT UTAH COPPER CORP 60.13




14-21-151-004-0000 KENNECOTT UTAH COPPER 0.17



14-21-151-007-0000 UTAH STATE ROAD COMMISSION 0.47


14-21-151-014-0000 LAKE HURON, LC 0.06

14-21-151-016-0000 VAZQUEZ, VICTOR A 2.14

14-21-151-017-0000 GUANUNA, EDGAR & ANGELICA; JT 0.72


14-21-151-020-0000 CANNON PROPERTIES, INC 2.05

14-21-151-021-0000 LAKE HURON, LC 1.07

14-21-151-022-0000 LAKE HURON, LC 1.01


14-21-151-025-0000 LAKE HURON, LC 0.19


14-21-151-027-0000 PACIFICORP 2.11

14-21-151-028-0000 BRUNDLE & BRUNDLE INVESTMENT & CONSTR 0.18


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14-21-151-029-0000 BRUNDLE & BRUNDLE INVESTMENT & CONSTR 0.48




14-21-176-003-0000 2 MORCO LLP 3.73

14-21-176-004-0000 LOY WATTS FAMILY LLC; ET AL 3.41

14-21-176-006-0000 SALT LAKE COUNTY 1.34




14-21-200-002-0000 JENKINS, DEANE T & DONNA P; TRS 4.97

14-21-200-003-0000 MC GUIRE, BRENDA J 0.38

14-21-200-004-0000 JENKINS, DEANE T & DONNA P; TRS 3.31

14-21-200-005-0000 HUEZO, IRMA GUTIEREZ 2.51

14-21-200-006-0000 HUEZO, IRMA GUTIEREZ 2.30

14-21-200-007-0000 WHITAKER CONSTRUCTION CO, INC 5.23


14-21-200-010-0000 CHATWIN, THERON D & JOAN L; TRS 1.97

14-21-200-011-0000 CHATWIN, THERON D & JOAN L; TRS 5.10

14-21-200-012-0000 GULF INVESTMENTS LTD 1.10


14-21-200-016-0000 CK & TS ENTERPRISES, LLC 4.74


14-21-200-019-0000 SAFI-SAMGHABADI, BEHNAZ & YUSEF; TC 5.09

14-21-200-020-0000 SYME, CHARLES B & RUTH C; TRS 2.55


14-21-200-022-0000 SYME, BOYCE J & SARAH M; TRS 2.57

14-21-200-023-0000 HOWELL, KIM 3.96

14-21-200-024-0000 ERICKSON, RICHARD W 1.00

14-21-200-025-0000 ERICKSON, RICHARD W 5.00

14-21-200-026-0000 AUTONOMY INC 7.16

14-21-200-028-0000 HUEZO, IRMA 3.36

14-21-200-029-0000 AUTONOMY INC 2.96

14-21-200-030-0000 MIKE ZIMMERMAN WELL SERVICES LLC 1.95






14-21-300-007-0000 RJ5, LLC; ET AL 8.73


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14-21-300-015-0000 SALT LAKE COUNTY 0.25







14-21-401-005-0000 MAGNA SELF STORAGE PROPERTY, LLC 4.24

14-21-401-007-0000 ANDERSEN, CLIFFORD W JR 1.00

14-21-401-008-0000 ANDERSEN, CLIFFORD W JR 3.17


Total 547.33 Source: Salt Lake County Assessor’s Office


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11. Method of Selection of Private Developers to Undertake Community Development

The agency has identified the following rules to guide participation of property owners, developers and other interested parties in undertaking implementation of this Plan. These rules will be followed by the Agency in selecting private developers to undertake community development within the Project Area according to terms and conditions established by the Agency. A summary is as follows:

a. Qualified Owners

The community development plan provides reasonable opportunities for owners of property in the project area to participate in the development of property in the project area if they enter into a participation agreement with the Agency. The following rules apply:

i. Owners may retain, maintain, and if necessary rehabilitate, all or portions of

their properties;

ii. Owners may acquire adjacent or other properties in the project area;

iii. Owners may sell all or portions of their improvements to the Agency, but

retain the land, and develop their properties;

iv. Owners may sell all or portions of their properties to the Agency and

purchase other properties in the project area;

v. Owners may sell all or portions of their properties to the Agency and

obtain preferences to re-enter the project area;

vi. Tenants may have opportunities to become owners of property in the

project area, subject to the opportunities of owners of property in the project area; and

vii. Other methods as may be approved by the Agency.

The Agency may extend reasonable preferential opportunities to owners and tenants in the project area ahead of persons and entities from outside the project area, to be owners and tenants in the project area during and after the completion of the community development.

b. Other Parties

If no owner in the Project Area, as described above, who possesses the skill, experience and financial resources necessary to become a developer in the project area is willing to become a developer, the Agency may identify other persons who


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may be interested in developing all or part of the project area. Potential developers will be identified by one or more of the following processes: public solicitation, requests for proposal (RFP), private negotiation, or some other method of identification approved by the Agency.

c. Persons Expressing an Interest to Become a Developer

The Agency has not nor does it intend to enter into any owner participation agreement or agreements with developers to develop all or part of the project area until after the Agency and the County decide whether or not to adopt a community development plan for the project area.

12. Reasons for Selection of Project Area

The project area was selected as an opportunity to provide employment to the nearby population. The project area is also one of the few remaining areas in Salt Lake County appropriate for the development of new industrial facilities. The project area is underserved for public infrastructure and is in an area that may have additional environmental challenges and issues.

13. Description of Physical, Social and Economic Conditions Existing in the

Project Area

The project area does not currently make a significant contribution to the tax base of Magna. Intensity of development in the area has been limited by the lack of public infrastructure including internal circulation, water, sewer, storm drainage and other facilities.

14. Description of Tax Incentives Offered

The Redevelopment Agency of Salt Lake County proposes to offer property owners and developers reimbursement for costs associated with installation of necessary public infrastructure and development of new commercial and residential uses. Tools may include grants and low interest loans to property owners and developers as well as land write downs and reimbursement for installation of improvements. The source of funds for reimbursement will be tax increment generated through investment in the project area.


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15. Benefits Analysis

Requirements of Analysis

The Benefits Analysis is prepared in full compliance with UCA § 17C-4-103(11) and addresses the following issues as outlined in the Act:

a. The beneficial influences upon the tax base of the community; and

b. The associated business and economic activity likely to be stimulated by the

community development.

Analysis

The following analysis is organized according to the above-outlined sections of Utah Code.

a. The beneficial influences upon the tax base of the community:

Investment in improved infrastructure and development of new industrial and residential uses within the project area will increase the assessed value and tax base of the community. In addition to increased assessed value, improvement will increase sales volumes and result in increased taxable sales in the area.

b. The associated business and economic activity likely to be stimulated

The project area will provide employment to the Magna Township area. According

to the Regional Transportation Plan (RTP), by the year 2040 over 200 new jobs are

projected on this site. The planned infrastructure and property improvements in the

proposed project area will improve visibility and access to existing amenities and

result in increased community and economic activity within the proposed project

area. With increased investment in infrastructure in the area the additional jobs

attracted to the project area will, in all likelihood exceed the RTP projection.

16. Review of Community Development Proposals

Each community development proposal by an owner participant or a developer shall be accompanied by site plans, development data and other appropriate material that clearly describes the extent of community development proposed, including land coverage, setbacks, height and massing of buildings, off-street parking and loading, use of public transportation, and any other data determined to be necessary or requested by the Agency or the County.


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17. Implementing the Plan

This Community Development Project Area Plan shall be implemented as approved by the Agency. Techniques to implement the plan may include property acquisition, disposition, relocation and development. They are to be accomplished by:

a. Acquisition of Real Property

The Agency may acquire, but is not required to acquire, any real property located in the Project Area, by gift, devise, exchange, contract, purchase or any lawful method. The Agency is authorized to acquire any other interest in real property less than fee title such as leasehold interests, easements, rights of way, etc. by negotiation, gift, devise, exchange, purchase, or other lawful method.

b. Acquisition of Personal Property

Generally, personal property shall not be acquired. However, where necessary in the execution of this plan, the Agency is authorized to acquire personal property in the Project Area by any lawful means.

c. Cooperation with Public Bodies

Certain public bodies are authorized by state law to aid and cooperate, with or without consideration, in the planning, undertaking, financing, construction, or operation of this project. The Agency shall seek the aid and cooperation of such public bodies in order to accomplish the purposes of community development and the highest public good.

The Agency, by law, is not authorized to acquire real property owned by public bodies without the consent of such public bodies. The Agency, however, will seek the cooperation of all public bodies owning or intending to acquire property in the Project Area. The Agency shall impose on all public bodies the planning and design controls contained in the plan to ensure that present uses and any future development by public bodies will conform to the requirements of this plan.

d. Property Management

During such time that property, if any, in the Project Area is owned by the Agency, such property shall be under the management and control of the Agency. Such property may be rented or leased by the Agency pending its disposition for community development.


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e. Property Disposition and Development

The Agency is authorized to demolish and clear buildings, structures, and other improvements from any real property in the Project Area as necessary to carry out the purposes of this plan. The Agency is authorized to install and construct facilities, and public utilities, within the project area, not prohibited by law, which are necessary to carry out this plan. The Agency is authorized to prepare, or cause to be prepared as building sites, any real property in the Project Area. The Agency is also authorized to rehabilitate, or to cause to be rehabilitated, any building or structure in the Project Area. The Agency is also authorized and directed to advise, encourage, and assist in the rehabilitation of property in the Project Area not owned by the Agency.

For the purposes of this plan, the Agency is authorized to sell, lease, exchange, subdivide, transfer, assign, pledge, encumber by mortgage or deed of trust, or otherwise dispose of any interest in real property. The Agency is authorized to dispose of real property by leases or sales by negotiation with or without public bidding. All real property acquired by the Agency in the Project Area shall be sold or leased to public or private persons or entities for development as permitted in the plan. Real property may also be conveyed by the Agency to the County or any other public body without charge.

The Agency shall reserve such controls in the disposition and development documents as may be necessary to prevent transfer, retention, or use of property for speculative purposes and to insure that development is carried out pursuant to this plan. All purchasers or lessees of property shall be obligated to use the property for the purposes designated in this plan, to begin and complete development of the property within a period of time which the Agency fixes as reasonable, and to comply with other conditions which the Agency deems necessary to carry out the purposes of this plan

f. Development

To the maximum extent possible, objectives of the plan are to be accomplished by private enterprise with Agency assistance and review. To provide adequate safeguards to ensure that the provisions of this plan will be carried out, all real property sold, leased, or conveyed by the Agency, as well as all property subject to participation agreements, shall be made subject to the provisions of this plan by leases, deeds, contracts, agreements, declarations of restrictions, provision of the County ordinance, conditional use permits, or other means. Where appropriate, as determined by the Agency, such documents or portions thereof shall be recorded in the Office of the County Recorder. The leases, deeds, contracts, agreements, and declarations of restrictions may contain restrictions, covenants, covenants running with the land, rights of reverter, conditions subsequent, equitable servitude, or any other provision necessary to carry out this plan.


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To the extent now or hereafter permitted by law, the Agency is authorized to pay for, develop, or construct any building, facility, structure, or other improvement either within or without the Project Area for itself or for any public body or public entity to the extent that such improvement would be of benefit to the project and is consistent with this plan. During the period of development in the Project Area, the Agency shall insure that the provisions of this plan and of other documents formulated pursuant to this plan are being observed, and that development in the Project Area is proceeding in accordance with development documents and time schedules. Development plans, both public and private, shall be submitted to the Agency for approval and architectural review. All development must conform to this plan and all applicable federal, state, and local laws. For the purposes of this plan, the Agency is authorized to sell, lease, exchange, transfer, assign, pledge, encumber, and otherwise dispose of personal property.

18. Project Financing

a. Tax Increment Provisions

The Community Development Plan specifically incorporates the provisions of tax increment financing permitted by the Act, as more specifically set forth in § 17C-4 Part 2 of the Act.

b. Procedures for Collection of the Tax Increment

Before the Agency may collect tax increment from the Project Area, it shall undertake the following:

i. Obtain the consent of a taxing entity or public entity to the Agency receiving tax

increment funds for the community development project, ii. Obtain the approval and adoption of each resolution or interlocal agreement to

provide funds for the community development project area in accordance with § 17C-4-202,

iii. File a copy of the resolution or interlocal agreement as directed in § 17C-4-203 and iv. Prepare and adopt a project area budget.

19. Provisions for Amending Plan

The community development plan may be amended or modified at any time by the Agency in the same manner as if the amendment or modification constituted a Project Area Plan being originally proposed or as provided in the Act.


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E X H I B I T S


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EXHIBIT A

MAGNA COMMERCE PARK PROJECT AREA MAP


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EXHIBIT B MAGNA COMMERCE PARK PROJECT AREA

LEGAL DESCRIPTION

Parcel # Address

14-16-351-003-0000 1761 S 8000 W

14-16-351-003-0000 1761 S 8000 W

14-16-352-001-0000 2027 S 8000 W

14-16-352-001-0000 2027 S 8000 W

14-16-352-001-0000 2027 S 8000 W

14-16-352-002-0000 2013 S 8000 W

14-16-352-002-0000 2013 S 8000 W

14-16-352-003-0000 7850 W 2100 S

14-16-353-001-0000 2027 S 8000 W

14-16-353-002-0000 2027 S 8000 W

14-16-353-003-0000 2069 S 8000 W

14-16-353-004-0000 2069 S 8000 W

14-16-353-005-0000 2069 S 8000 W

14-16-353-006-0000 2069 S 8000 W

14-16-353-007-0000 2069 S 8000 W

14-16-353-008-0000 2027 S 8000 W

14-16-354-001-0000 2089 S 8000 W

14-16-354-002-0000 2089 S 8000 W

14-16-354-003-0000 2089 S 8000 W

14-16-354-003-0000 2089 S 8000 W

14-16-355-001-0000 1731 S 8000 W

14-21-101-002-0000 2241 S 8000 W

14-21-101-003-0000 2241 S 8000 W

14-21-101-005-0000 2241 S 8000 W

14-21-101-006-0000 7811 W 2100 S

14-21-126-003-0000 7621 W 2100 S

14-21-151-002-0000 2343 S 8000 W

14-21-151-003-0000 2345 S 8000 W

14-21-151-004-0000 2355 S 8000 W

14-21-151-005-0000 2355 S 8000 W

14-21-151-006-0000 2355 S 8000 W

14-21-151-007-0000 2375 S 8000 W

14-21-151-010-0000 7944 W UTWO O ONE HWY

14-21-151-014-0000 7848 W UTWO O ONE HWY

14-21-151-016-0000 7834 W UTWO O ONE HWY

14-21-151-017-0000 2321 S 7800 W

14-21-151-018-0000 2321 S 7800 W

14-21-151-020-0000 7916 W UTWO O ONE HWY

14-21-151-021-0000 7888 W UTWO O ONE HWY

14-21-151-022-0000 7882 W UTWO O ONE HWY


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Parcel # Address

14-21-151-023-0000 2343 S 8000 W

14-21-151-025-0000 7848 W UTWO O ONE HWY

14-21-151-026-0000 2355 S 8000 W

14-21-151-027-0000 2337 S 8000 W

14-21-151-028-0000 7844 W 2400 S

14-21-151-029-0000 7838 W 2400 S

14-21-151-031-0000 2291 S 8000 W

14-21-176-001-0000 7774 W UTWO O ONE HWY

14-21-176-002-0000 7620 W UTWO O ONE HWY

14-21-176-003-0000 7774 W UTWO O ONE HWY

14-21-176-004-0000 7600 W UTWO O ONE HWY

14-21-176-006-0000 7775 W UTWO O ONE HWY

14-21-176-008-0000 7620 W UTWO O ONE HWY

14-21-200-001-0000 7581 W 2100 S

14-21-200-002-0000 2109 S 7600 W

14-21-200-003-0000 7457 W 2100 S

14-21-200-004-0000 2109 S 7600 W

14-21-200-005-0000 7397 W 2100 S

14-21-200-006-0000 7367 W 2100 S

14-21-200-007-0000 7305 W 2100 S

14-21-200-008-0000 7581 W 2100 S

14-21-200-010-0000 2199 S 7400 W

14-21-200-011-0000 2199 S 7400 W

14-21-200-012-0000 2330 S 7200 W

14-21-200-013-0000 7452 W UTWO O ONE HWY

14-21-200-016-0000 2232 S 7200 W

14-21-200-017-0000 2330 S 7200 W

14-21-200-019-0000 2360 S 7200 W

14-21-200-020-0000 2330 S 7200 W

14-21-200-021-0000 2330 S 7200 W

14-21-200-022-0000 2350 S 7200 W

14-21-200-023-0000 7251 W 2100 S

14-21-200-024-0000 2122 S 7200 W

14-21-200-025-0000 2172 S 7200 W

14-21-200-026-0000 2198 S 7400 W

14-21-200-028-0000 2185 S 7400 W

14-21-200-029-0000 2198 S 7400 W

14-21-200-030-0000 2186 S 7200 W

14-21-300-002-0000 7767 W UTWO O ONE HWY

14-21-300-003-0000 7835 W UTWO O ONE HWY

14-21-300-004-0000 7777 W UTWO O ONE HWY

14-21-300-005-0000 7777 W UTWO O ONE HWY


21

Parcel # Address

14-21-300-006-0000 7777 W UTWO O ONE HWY

14-21-300-007-0000 7665 W UTWO O ONE HWY

14-21-300-011-0000 7950 W 2820 S

14-21-300-012-0000 7940 W 2820 S

14-21-300-014-0000 7950 W UTWO O ONE HWY

14-21-300-015-0000 2501 S 8000 W

14-21-300-016-0000 7701 W UTWO O ONE HWY

14-21-300-017-0000 2851 S 8000 W

14-21-401-001-0000 7571 W UTWO O ONE HWY

14-21-401-002-0000 7511 W UTWO O ONE HWY

14-21-401-003-0000 7445 W UTWO O ONE HWY

14-21-401-005-0000 7415 W UTWO O ONE HWY

14-21-401-007-0000 7415 W UTWO O ONE HWY

14-21-401-008-0000 7415 W UTWO O ONE HWY

14-21-426-001-0000 2352 S 7200 W


22

EXHIBIT C

MAGNA INDUSTRIAL AREA CURRENT ZONING MAP


23

EXHIBIT D SUPPORTING DOCUMENTS

Magna Commerce Park Community Development Area Project Plan

May 24, 2016

The following documents are part of the Magna Commerce Park Community Development Area (CDA) Project Plan dated May 24, 2016 and are incorporated by reference. The documents support the statements and findings incorporated in the Magna Commerce Park CDA Project Plan.

1. Title 19 - Uniform Zoning Ordinance, Salt Lake County, Utah, 1986, as amended.

2. Magna Township General Plan, Salt Lake County, Utah, 2012


24

EXHIBIT E

MAGNA COMMERCE PARK PROJECT AREA BUDGET

Estimated Total Cash Flow to Project

2018-2032

Taxing Entities:

1010 SALT LAKE $4,957,365

2030 GRANITE SCHOOL DISTRICT $12,271,192

4030 MAGNA MOSQUITO ABATEMENT DISTRICT $89,686

4045 JORDAN VALLEY WATER CONSERVANCY DISTRICTXXX $703,422

4080 MAGNA WATER DISTRICT $4,566,965

4185 CENTRAL UTAH WATER CONSERVANCY DISTRICT $712,214

4210 WASATCH WASTE AND RECYCLING DISTRICT $0

4220 SALT LAKE COUNTY MUNICIPAL-TYPE SERVICES $128,374

4320 UNIFIED FIRE SERVICE $3,517,109

4340 SALT LAKE VALLEY LAW ENFORCEMENT SERVICE AREA $3,590,968

6030 SALT LAKE COUNTY LIBRARY $1,201,093

Total $31,738,388