Notice of Interlocal Agreements for Project Area Funds Generated from the 1400 North Main Community Reinvestment Project Area
Notice Tags
Other
Notice Type(s)
Notice
Event Start Date & Time
October 25, 2023 09:30 AM
Description/Agenda
NOTICE OF INTERLOCAL AGREEMENTS FOR PROJECT AREA FUNDS GENERATED FROM THE 1400 NORTH MAIN COMMUNITY REINVESTMENT PROJECT AREA
Public notice is hereby given that after approval and adoption of the below described interlocal agreements on October 17, 2023, the Logan Redevelopment Agency (RDA) of the City of Logan has now executed and entered into Interlocal Agreements to receive project area funds from the 1400 NORTH MAIN COMMUNITY REINVESTMENT PROJECT AREA (Project Area) with the following taxing entities: Cache County, Logan City School District, and the City of Logan. The Interlocal agreements are substantially the same with each taxing entity and in summary authorizes the RDA to annually receive 100% of the property tax generated in the Project Area that is in excess of the equalized taxable value shown on the 2023 Cache County assessment roles, for a period of 20 years or until the tax increment paid to the RDA reaches the agreed upon cap, whichever occurs first. The first year of payment shall begin for the year 2026.
The Interlocal Agreements are available for inspection at the Agency offices located at 290 North 100 West, Logan, Utah at the offices of the Economic Development Department Monday through Friday between the hours of 8 a.m. and 5 p.m.
Published: October 25, 2023
Teresa Harris, City Recorder
435-716-9002
teresa.harris@loganutah.org
Notice of Special Accommodations (ADA)
Individuals needing special accommodations during this meeting should notify Lois Price, 435-716-9000, at least two working days prior to the meeting. Hearing enhancement devices are available on request.
Notice of Electronic or Telephone Participation
Agency members may join a meeting electronically upon proper notice of the meeting and 24-hour notice to Agency members. An Agency member participating electronically will be connected to the meeting by telephone