General Information

Government Type

Municipality

Entity

North Logan

Public Body

Redevelopment Agency

Notice Information

Add Notice to Calendar

Notice Title

PUBLIC NOTICE regarding CRA Interlocal Agreement

Notice Tags

Interlocal Cooperation Entities

Notice Type(s)

Notice

Event Start Date & Time

August 29, 2022 01:00 AM

Description/Agenda

The North Logan City Redevelopment Agency (the 'Agency') met in a regular open and public meeting on August 17, 2022, and approved Interlocal Cooperative Agreement with Cache County, Cache County School District, and North Logan City (the 'Entities') for the Cache Innovation CRA Community Reinvestment Project Area (the 'Project Area'). Tax Increment will be collected for no more than 10 years for any one parcel. The length of the total increment window for the Project Area will be 25 years. The Agency will trigger specific parcels as develop opportunities arise. The Agency will be governed by the following table when determining the trigger of each parcel. The Agency will trigger new parcels in their annual November 1st report. TYPE OF DEVELOPMENT TAX INCREMENT RATE (UP TO) TAX INCREMENT RATE (UP TO) Manufacturing/Industrial* 75% 10 Years Anchor Retail ( 50k sf) 60% 10 Years Office/Non-Retail 50% 10 Years Other Retail ( 50k sf) 25% 5 Years Residential 0% 0 Years *jobs created at or above 110% of prevailing county wage The City will pay 10% of the sales tax revenues generated by a parcel for five years from the trigger date directly to the County School District.

Notice of Special Accommodations (ADA)

In compliance with the Americans with Disabilities Act, individuals needing special accommodations during this meeting should notify Scott Bennett, City Recorder, at (435) 752-1310 at least three working days prior to the meeting.

Notice of Electronic or Telephone Participation

NOTICE OF POSSIBLE ELECTRONIC OR TELEPHONIC PARTICIPATION One or more members of the North Logan RDA Board Members may participate electronically or telephonically pursuant to North Logan Resolution 20-05, UCA 52-4-202, and UCA 52-4-207.

Meeting Information

Meeting Location

2076 North 1200 East
North Logan, UT 84341
Show in Apple Maps Show in Google Maps

Contact Name

Scott Bennett

Contact Email

recorder@northlogancity.gov

Contact Phone

(435)752-1310

Notice Posting Details

Notice Posted On

August 29, 2022 04:40 PM

Notice Last Edited On

August 29, 2022 04:45 PM

Subscribe by Email

Subscription options will send you alerts regarding future notices posted by this Body.