KAYSVILLE — A public hearing regarding the establishment of a Community Development Project for land currently owned by the city at Flint Street and 200 North will be continued next month.
The hearing began on Tuesday, Feb. 19, in front of the Kaysville Redevelopment Agency Board, which is made up of the city council and the city manager, finance director and recorder.
State law requires two-weeks notice through news outlets and due to an oversight, that did not happen. As a result, the hearing will be continued on Tuesday, March 5.
Randy Sant, economic development consultant for the city, answered questions from agency members at the Tuesday hearing.
The land under consideration includes about 29 acres north of 200 North and west of Flint Street.
In the area being considered for a redevelopment plan, 15 acres are owned by the city, another 10 by the Flint and Colemere families, and the rest includes public right-of-ways and roads.
All property owners in the project area were notified of the hearing, according to Sant.
Last month, the city approved a purchase and sale agreement with Terra Basin, a limited liability company of the Adams Company.
At the time, Stuart Adams, a partner, said the company will be looking for commercial businesses that will meet the needs of the neighborhood.
Establishing a plan for a development project in the area puts in motion the option of utilizing tax-increment financing, according to Sant.
With tax-increment financing, the increase in property taxes from new development at the site can be applied toward infrastructure and landscaping for a set time period.
“It’s just a tool that is provided to cities for economic purposes,” said Sant.
Before it is established, all taxing entities, from the school district to the mosquito abatement district, must approve the transfer of funds. The entities would forego any additional tax revenue generated by the development for a time to be determined.
“This is extremely preliminary,” Sant said of the plan. Cities must measure costs versus benefits as they determine if revenues from new businesses can cover costs and benefit residents.
The plan draft lists as its objective, maintaining “a high-quality development that will assist in meeting a need for commercial services in the west area of the city. The agency and city want to guide development in order to ensure development standards blend harmoniously with the character of the city,” it said.
The hearing will continue on Tuesday, March 5, at 6 p.m. in the Kaysville City Municipal Center, 23 E. Center Street.