West Timpanogos Community Development Project Area Plan and
West Timpanogos Community Development Project Area Plan and Budget Prepared by Smith Hartvigsen, PLLC and Jonnalynne Walker, LLC June, 2013
Table of Contents 1. 2. 3. 4. 5.
Introduction 4 Definitions 4 Preconditions for Designating a Community Development Project Area 6 Project Area Boundaries [17C-4-103(1)] 6 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 2
[17C-4-103(10)] 14. Analysis of Whether the Adoption of the Project Area Plan is Beneficial under a Benefit Analysis [17C-4-103(11)] A. Beneficial Influences Upon the Tax Base of the Community [17C-4-103(11)(a)] B. Business and Economic Activity Likely to be Stimulated [17C-4-103 (11)(b)] APPENDIX A: PARCEL LIST APPENDIX B: PROJECT AREA DESCRIPTION APPENDIX C: PROJECT AREA MAP APPENDIX C: PROJECT AREA BUDGET
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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. 4
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 5
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 6
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. 7
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. 8
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. 9
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 10
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)] 11
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 [17C4-103(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 Alpine School District Utah County Lehi City Lehi Metro. Water District No. Utah Co. Water Cons. District Central Utah Water Cons. TOTAL
Participation Level 25% 50% 50% 50% 50% 50%
20 Year Gross $12,238,258 $ 3,669,092 $ 7,165,737 $ 36,691 $ 80,720 $ 1,262,168 $24,452,666
Annual (Year 1) $ 97,092 $ 29,109 $ 56,849 $ 291 $ 640 $ 10,013 $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 12
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. 13
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.
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APPENDIX A: PARCEL LIST Parcel Number 110300081 110310135 110310141 110310142 110310162 110310164 110320401 110320403 110320416 110320420 532570001 533050007 533050008 534880001 534880003
Acres 0.17 0.15 36.15 0.36 0.96 0.63 9.56 0.87 0.04 2.64 9.45 5.07 0.12 13.27 1.91
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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-ofWay 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 Reservoir Canal; thence Northwesterly 77.63 feet along the arc of a 435.00 foot radius curve to the 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; thence North 63°57'48" West 820.05 feet along the Northeasterly Boundary Line of said Provo 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" 16
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 right (center bears South 05°22'56" East and the chord bears North 87°17'29" East 793.92 feet with 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
17
APPENDIX C: PROJECT AREA MAP
18
APPENDIX D: PROJECT AREA BUDGET WEST TIMPANOGOS COMMUNITY DEVELOPMENT AREA REDEVELOPMENT AGENCY OF LEHI TAX INCREMENT REVENUE SUMMARY CURRENT VALUATION REAL ESTATE BASE VALUES $6,448,875
SCHEDULE 1 4/23/2013
PERSONAL PROPERTY $0
TOTAL VALUE $6,448,875
TAX RATE BASE YEAR TAXES YEAR 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 TOTAL
0.013066 $84,261 REAL PROPERTY $0 $0 $51,005,250 $103,540,658 $157,652,127 $213,386,941 $270,793,799 $329,922,863 $329,922,863 $329,922,863 $329,922,863 $329,922,863 $329,922,863 $329,922,863 $329,922,863 $329,922,863 $329,922,863 $329,922,863 $329,922,863 $329,922,863 $329,922,863 $329,922,863
PERSONAL PROPERTY $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
TOTAL $0 $0 $51,005,250 $103,540,658 $157,652,127 $213,386,941 $270,793,799 $329,922,863 $329,922,863 $329,922,863 $329,922,863 $329,922,863 $329,922,863 $329,922,863 $329,922,863 $329,922,863 $329,922,863 $329,922,863 $329,922,863 $329,922,863 $329,922,863 $329,922,863
INCREMENTAL VALUE $0 $0 $44,556,375 $97,091,783 $151,203,252 $206,938,066 $264,344,924 $323,473,988 $323,473,988 $323,473,988 $323,473,988 $323,473,988 $323,473,988 $323,473,988 $323,473,988 $323,473,988 $323,473,988 $323,473,988 $323,473,988 $323,473,988 $323,473,988 $323,473,988
TAX RATE 0.013066 0.013066 0.013066 0.013066 0.013066 0.013066 0.013066 0.013066 0.013066 0.013066 0.013066 0.013066 0.013066 0.013066 0.013066 0.013066 0.013066 0.013066 0.013066 0.013066 0.013066 0.013066
TAX INCREMENT DISTRIBUTION BY TAXING ENTITY TOTAL TAX Utah Alpine INCREMENT County Sch. Dist. $0 $0 $0 $0 $0 $0 $582,175 $29,109 $97,092 $1,268,601 $63,430 $211,571 $1,975,622 $98,781 $329,484 $2,703,853 $135,193 $450,935 $3,453,931 $172,697 $576,029 $4,226,511 $211,326 $704,876 $4,226,511 $211,326 $704,876 $4,226,511 $211,326 $704,876 $4,226,511 $211,326 $704,876 $4,226,511 $211,326 $704,876 $4,226,511 $211,326 $704,876 $4,226,511 $211,326 $704,876 $4,226,511 $211,326 $704,876 $4,226,511 $211,326 $704,876 $4,226,511 $211,326 $704,876 $4,226,511 $211,326 $704,876 $4,226,511 $211,326 $704,876 $4,226,511 $211,326 $704,876 $4,226,511 $211,326 $704,876 $4,226,511 $211,326 $704,876 $73,381,847 $3,669,092 $12,238,258
19
Lehi City $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 $7,165,737
Lehi Metropolitan No. Utah County Central UT Taxing Entity Water Dist. Water Cons. Dist. Water Cons. Pass-Thru $0 $0 $0 $0 $0 $0 $0 $0 $291 $640 $10,013 $388,181 $634 $1,395 $21,820 $845,872 $988 $2,173 $33,981 $1,317,296 $1,352 $2,974 $46,506 $1,802,862 $1,727 $3,799 $59,408 $2,302,995 $2,113 $4,649 $72,696 $2,818,132 $2,113 $4,649 $72,696 $2,818,132 $2,113 $4,649 $72,696 $2,818,132 $2,113 $4,649 $72,696 $2,818,132 $2,113 $4,649 $72,696 $2,818,132 $2,113 $4,649 $72,696 $2,818,132 $2,113 $4,649 $72,696 $2,818,132 $2,113 $4,649 $72,696 $2,818,132 $2,113 $4,649 $72,696 $2,818,132 $2,113 $4,649 $72,696 $2,818,132 $2,113 $4,649 $72,696 $2,818,132 $2,113 $4,649 $72,696 $2,818,132 $2,113 $4,649 $72,696 $2,818,132 $2,113 $4,649 $72,696 $2,818,132 $2,113 $4,649 $72,696 $2,818,132 $36,691 $80,720 $1,262,168 $48,929,186
WEST TIMPANOGOS COMMUNITY DEVELOPMENT AREA REDEVELOPMENT AGENCY OF LEHI TAX INCREMENT DISTRIBUTION BY TAXING ENTITY OFFICE ONLY - 25% PARTICIPATION LEVEL - SCHOOL DISTRICT, 50% PARTICIPATION LEVEL - ALL OTHER TAXING ENTITIES Utah County 10.00% Total Tax Participation Increment Level - 50% Tax Year 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
Alpine Sch. Dist. 66.71% Total Tax Participation Increment Level - 25%
Lehi Lehi Metropolitan No. Utah County City Water Dist. Water Cons. Dist. 19.53% 0.10% 0.22% Total Tax Participation Total Tax Participation Total Tax Participation Increment Level - 50% Increment Level - 50% Increment Level - 50%
$58,217 $29,109 $388,368 $97,092 $113,699 $56,849 $126,860 $63,430 $846,284 $211,571 $247,758 $123,879 $197,562 $98,781 $1,317,937 $329,484 $385,839 $192,919 $270,385 $135,193 $1,803,740 $450,935 $528,062 $264,031 $345,393 $172,697 $2,304,117 $576,029 $674,553 $337,276 $422,651 $211,326 $2,819,506 $704,876 $825,438 $412,719 $422,651 $211,326 $2,819,506 $704,876 $825,438 $412,719 $422,651 $211,326 $2,819,506 $704,876 $825,438 $412,719 $422,651 $211,326 $2,819,506 $704,876 $825,438 $412,719 $422,651 $211,326 $2,819,506 $704,876 $825,438 $412,719 $422,651 $211,326 $2,819,506 $704,876 $825,438 $412,719 $422,651 $211,326 $2,819,506 $704,876 $825,438 $412,719 $422,651 $211,326 $2,819,506 $704,876 $825,438 $412,719 $422,651 $211,326 $2,819,506 $704,876 $825,438 $412,719 $422,651 $211,326 $2,819,506 $704,876 $825,438 $412,719 $422,651 $211,326 $2,819,506 $704,876 $825,438 $412,719 $422,651 $211,326 $2,819,506 $704,876 $825,438 $412,719 $422,651 $211,326 $2,819,506 $704,876 $825,438 $412,719 $422,651 $211,326 $2,819,506 $704,876 $825,438 $412,719 $422,651 $211,326 $2,819,506 $704,876 $825,438 $412,719 $7,338,185 $3,669,092 $48,953,030 $12,238,258 $14,331,475 $7,165,737
$582 $1,269 $1,976 $2,704 $3,454 $4,227 $4,227 $4,227 $4,227 $4,227 $4,227 $4,227 $4,227 $4,227 $4,227 $4,227 $4,227 $4,227 $4,227 $4,227 $73,382
20
$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 $36,691
$1,281 $2,791 $4,346 $5,948 $7,599 $9,298 $9,298 $9,298 $9,298 $9,298 $9,298 $9,298 $9,298 $9,298 $9,298 $9,298 $9,298 $9,298 $9,298 $9,298 $161,440
$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 $80,720
SCHEDULE 2 4/23/2013
Central UT Water Cons. 3.44% Total Tax Participation Increment Level - 50% $20,027 $43,640 $67,961 $93,013 $118,815 $145,392 $145,392 $145,392 $145,392 $145,392 $145,392 $145,392 $145,392 $145,392 $145,392 $145,392 $145,392 $145,392 $145,392 $145,392 $2,524,336
$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 $1,262,168
Total Total Tax Increment
Participation Level
$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 $73,381,847 $24,452,666
Table of Contents 1. 2. 3. 4. 5.
Introduction 4 Definitions 4 Preconditions for Designating a Community Development Project Area 6 Project Area Boundaries [17C-4-103(1)] 6 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 2
[17C-4-103(10)] 14. Analysis of Whether the Adoption of the Project Area Plan is Beneficial under a Benefit Analysis [17C-4-103(11)] A. Beneficial Influences Upon the Tax Base of the Community [17C-4-103(11)(a)] B. Business and Economic Activity Likely to be Stimulated [17C-4-103 (11)(b)] APPENDIX A: PARCEL LIST APPENDIX B: PROJECT AREA DESCRIPTION APPENDIX C: PROJECT AREA MAP APPENDIX C: PROJECT AREA BUDGET
3
11 12 12 12 15 16 18 19
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. 4
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 5
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 6
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. 7
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. 8
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. 9
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 10
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)] 11
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 [17C4-103(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 Alpine School District Utah County Lehi City Lehi Metro. Water District No. Utah Co. Water Cons. District Central Utah Water Cons. TOTAL
Participation Level 25% 50% 50% 50% 50% 50%
20 Year Gross $12,238,258 $ 3,669,092 $ 7,165,737 $ 36,691 $ 80,720 $ 1,262,168 $24,452,666
Annual (Year 1) $ 97,092 $ 29,109 $ 56,849 $ 291 $ 640 $ 10,013 $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 12
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. 13
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.
14
APPENDIX A: PARCEL LIST Parcel Number 110300081 110310135 110310141 110310142 110310162 110310164 110320401 110320403 110320416 110320420 532570001 533050007 533050008 534880001 534880003
Acres 0.17 0.15 36.15 0.36 0.96 0.63 9.56 0.87 0.04 2.64 9.45 5.07 0.12 13.27 1.91
15
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-ofWay 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 Reservoir Canal; thence Northwesterly 77.63 feet along the arc of a 435.00 foot radius curve to the 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; thence North 63°57'48" West 820.05 feet along the Northeasterly Boundary Line of said Provo 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" 16
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 right (center bears South 05°22'56" East and the chord bears North 87°17'29" East 793.92 feet with 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
17
APPENDIX C: PROJECT AREA MAP
18
APPENDIX D: PROJECT AREA BUDGET WEST TIMPANOGOS COMMUNITY DEVELOPMENT AREA REDEVELOPMENT AGENCY OF LEHI TAX INCREMENT REVENUE SUMMARY CURRENT VALUATION REAL ESTATE BASE VALUES $6,448,875
SCHEDULE 1 4/23/2013
PERSONAL PROPERTY $0
TOTAL VALUE $6,448,875
TAX RATE BASE YEAR TAXES YEAR 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 TOTAL
0.013066 $84,261 REAL PROPERTY $0 $0 $51,005,250 $103,540,658 $157,652,127 $213,386,941 $270,793,799 $329,922,863 $329,922,863 $329,922,863 $329,922,863 $329,922,863 $329,922,863 $329,922,863 $329,922,863 $329,922,863 $329,922,863 $329,922,863 $329,922,863 $329,922,863 $329,922,863 $329,922,863
PERSONAL PROPERTY $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
TOTAL $0 $0 $51,005,250 $103,540,658 $157,652,127 $213,386,941 $270,793,799 $329,922,863 $329,922,863 $329,922,863 $329,922,863 $329,922,863 $329,922,863 $329,922,863 $329,922,863 $329,922,863 $329,922,863 $329,922,863 $329,922,863 $329,922,863 $329,922,863 $329,922,863
INCREMENTAL VALUE $0 $0 $44,556,375 $97,091,783 $151,203,252 $206,938,066 $264,344,924 $323,473,988 $323,473,988 $323,473,988 $323,473,988 $323,473,988 $323,473,988 $323,473,988 $323,473,988 $323,473,988 $323,473,988 $323,473,988 $323,473,988 $323,473,988 $323,473,988 $323,473,988
TAX RATE 0.013066 0.013066 0.013066 0.013066 0.013066 0.013066 0.013066 0.013066 0.013066 0.013066 0.013066 0.013066 0.013066 0.013066 0.013066 0.013066 0.013066 0.013066 0.013066 0.013066 0.013066 0.013066
TAX INCREMENT DISTRIBUTION BY TAXING ENTITY TOTAL TAX Utah Alpine INCREMENT County Sch. Dist. $0 $0 $0 $0 $0 $0 $582,175 $29,109 $97,092 $1,268,601 $63,430 $211,571 $1,975,622 $98,781 $329,484 $2,703,853 $135,193 $450,935 $3,453,931 $172,697 $576,029 $4,226,511 $211,326 $704,876 $4,226,511 $211,326 $704,876 $4,226,511 $211,326 $704,876 $4,226,511 $211,326 $704,876 $4,226,511 $211,326 $704,876 $4,226,511 $211,326 $704,876 $4,226,511 $211,326 $704,876 $4,226,511 $211,326 $704,876 $4,226,511 $211,326 $704,876 $4,226,511 $211,326 $704,876 $4,226,511 $211,326 $704,876 $4,226,511 $211,326 $704,876 $4,226,511 $211,326 $704,876 $4,226,511 $211,326 $704,876 $4,226,511 $211,326 $704,876 $73,381,847 $3,669,092 $12,238,258
19
Lehi City $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 $7,165,737
Lehi Metropolitan No. Utah County Central UT Taxing Entity Water Dist. Water Cons. Dist. Water Cons. Pass-Thru $0 $0 $0 $0 $0 $0 $0 $0 $291 $640 $10,013 $388,181 $634 $1,395 $21,820 $845,872 $988 $2,173 $33,981 $1,317,296 $1,352 $2,974 $46,506 $1,802,862 $1,727 $3,799 $59,408 $2,302,995 $2,113 $4,649 $72,696 $2,818,132 $2,113 $4,649 $72,696 $2,818,132 $2,113 $4,649 $72,696 $2,818,132 $2,113 $4,649 $72,696 $2,818,132 $2,113 $4,649 $72,696 $2,818,132 $2,113 $4,649 $72,696 $2,818,132 $2,113 $4,649 $72,696 $2,818,132 $2,113 $4,649 $72,696 $2,818,132 $2,113 $4,649 $72,696 $2,818,132 $2,113 $4,649 $72,696 $2,818,132 $2,113 $4,649 $72,696 $2,818,132 $2,113 $4,649 $72,696 $2,818,132 $2,113 $4,649 $72,696 $2,818,132 $2,113 $4,649 $72,696 $2,818,132 $2,113 $4,649 $72,696 $2,818,132 $36,691 $80,720 $1,262,168 $48,929,186
WEST TIMPANOGOS COMMUNITY DEVELOPMENT AREA REDEVELOPMENT AGENCY OF LEHI TAX INCREMENT DISTRIBUTION BY TAXING ENTITY OFFICE ONLY - 25% PARTICIPATION LEVEL - SCHOOL DISTRICT, 50% PARTICIPATION LEVEL - ALL OTHER TAXING ENTITIES Utah County 10.00% Total Tax Participation Increment Level - 50% Tax Year 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
Alpine Sch. Dist. 66.71% Total Tax Participation Increment Level - 25%
Lehi Lehi Metropolitan No. Utah County City Water Dist. Water Cons. Dist. 19.53% 0.10% 0.22% Total Tax Participation Total Tax Participation Total Tax Participation Increment Level - 50% Increment Level - 50% Increment Level - 50%
$58,217 $29,109 $388,368 $97,092 $113,699 $56,849 $126,860 $63,430 $846,284 $211,571 $247,758 $123,879 $197,562 $98,781 $1,317,937 $329,484 $385,839 $192,919 $270,385 $135,193 $1,803,740 $450,935 $528,062 $264,031 $345,393 $172,697 $2,304,117 $576,029 $674,553 $337,276 $422,651 $211,326 $2,819,506 $704,876 $825,438 $412,719 $422,651 $211,326 $2,819,506 $704,876 $825,438 $412,719 $422,651 $211,326 $2,819,506 $704,876 $825,438 $412,719 $422,651 $211,326 $2,819,506 $704,876 $825,438 $412,719 $422,651 $211,326 $2,819,506 $704,876 $825,438 $412,719 $422,651 $211,326 $2,819,506 $704,876 $825,438 $412,719 $422,651 $211,326 $2,819,506 $704,876 $825,438 $412,719 $422,651 $211,326 $2,819,506 $704,876 $825,438 $412,719 $422,651 $211,326 $2,819,506 $704,876 $825,438 $412,719 $422,651 $211,326 $2,819,506 $704,876 $825,438 $412,719 $422,651 $211,326 $2,819,506 $704,876 $825,438 $412,719 $422,651 $211,326 $2,819,506 $704,876 $825,438 $412,719 $422,651 $211,326 $2,819,506 $704,876 $825,438 $412,719 $422,651 $211,326 $2,819,506 $704,876 $825,438 $412,719 $422,651 $211,326 $2,819,506 $704,876 $825,438 $412,719 $7,338,185 $3,669,092 $48,953,030 $12,238,258 $14,331,475 $7,165,737
$582 $1,269 $1,976 $2,704 $3,454 $4,227 $4,227 $4,227 $4,227 $4,227 $4,227 $4,227 $4,227 $4,227 $4,227 $4,227 $4,227 $4,227 $4,227 $4,227 $73,382
20
$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 $36,691
$1,281 $2,791 $4,346 $5,948 $7,599 $9,298 $9,298 $9,298 $9,298 $9,298 $9,298 $9,298 $9,298 $9,298 $9,298 $9,298 $9,298 $9,298 $9,298 $9,298 $161,440
$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 $80,720
SCHEDULE 2 4/23/2013
Central UT Water Cons. 3.44% Total Tax Participation Increment Level - 50% $20,027 $43,640 $67,961 $93,013 $118,815 $145,392 $145,392 $145,392 $145,392 $145,392 $145,392 $145,392 $145,392 $145,392 $145,392 $145,392 $145,392 $145,392 $145,392 $145,392 $2,524,336
$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 $1,262,168
Total Total Tax Increment
Participation Level
$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 $73,381,847 $24,452,666
