Salt Lake MSA Development Thread

[s.p.hansen]

County backs project along West Jordan TRAX line
By Mike Gorrell
SL Tribune

Salt Lake County has thrown its financial support behind a high-density development proposed along the new TRAX line running through West Jordan.

The County Council agreed Tuesday to approve tax-increment funding of up to $5.5 million over the next 20 years to help Colorado-based Boulder Ventures build a mixed-use project, which would include 1,400 residential units as well as commercial structures on a 40-acre parcel at 9000 S. Bangerter Highway.

That means the county would receive only 25 percent of its share of new taxes generated by the project over the next two decades (or until the $5.5 million level is reached). The developer would retain the other 75 percent to pay for public infrastructure — roads, curbs, gutter, sidewalk and expansion of the area’s storm drains and water and sewer lines.

"This is an explosive type of development for us," said West Jordan City Manager Rick Davis. "West Jordan embraces the concept of transit married to residential development. …This will set the tone for the future development of the east side of West Jordan."

http://www.sltrib.com/sltrib/politics/52678116-90/jordan-county-project-west.html.csp