NOTICE OF INTERLOCAL AGREEMENT BETWEEN THE EAGLE MOUNTAIN REDEVELOPMENT AGENCY AND EAGLE MOUNTAIN CITY
Pursuant to Sections 11-13-219 and I 7C-5-205, Utah Code Annotated 1953, as amended, the Eagle Mountain Redevelopment Agency (the 'Agency') and Eagle Mountain City (the 'City'), are providing this notice with respect to the Interlocal Cooperation Agreement (the 'lnterlocal Agreement') entered into by and between the Agency and Eagle Mountain City, wherein the City has agreed to remit to the Agency annually a portion of the incremental sales tax increment (Tax Increment) generated within the Mid-Valley Community Reinvestment Project Area (the 'Project Area') for the purpose of providing funds to the Agency to carry out the Project Area Plan.
The Interlocal Agreements provides that the City will remit to the Agency annually a portion of the Project Area's Sales Tax Increment. The first payment of tax increment from the Taxing Entities to the Agency will occur at the Agency's written request to the City. A summary of the salient terms of the Interlocal Agreement are as follows:
Taxing Entity Agreement Duration Percent to Agency Cap
City Sales Tax - 20 Years Sales Tax - 55% $15,751,273
A copy of the lnterlocal Agreement is and will be available for public inspection and copying at the Agency's offices located at 1650 Stagecoach Run, Eagle Mountain, Utah, during regular Agency hours, for a period of at least 30 days following the date of publication of this notice (the '30-Day Period'). During that 30-Day Period, any person in interest may contest the Interlocal Agreement or the procedures used to adopt it, if the Interlocal Agreement or the procedures fail to comply with any applicable statutory requirements. After the 30-Day Period, no person may contest the lnterlocal Agreement for any cause.
Notice of Special Accommodations (ADA)
In compliance with the Americans with Disabilities Act, individuals needing special accommodations (including auxiliary communicative aids and services) during this meeting should notify 801-789-6610 at least 3 working days prior to the meeting.