Springville City Council approves development agreement for LGI Homes project in Lakeside Landing

The Springville City Council held a meeting on March 12, 2025, focusing on a development agreement with LGI Homes for a new residential project in the Lakeside Landing District. The meeting began with a detailed presentation regarding the reimbursement agreement related to impact fees for off-site improvements necessary for the project.

The discussion highlighted that LGI Homes would be responsible for certain infrastructure enhancements, including a larger water line on Center Street, which exceeds their immediate needs to accommodate future growth in the area. The reimbursement agreement outlines how LGI will be compensated for these improvements, primarily through impact fee credits. When LGI applies for building permits, they will receive credits against the impact fees they would typically owe for utilities such as water, sewer, and storm drainage.

However, it was noted that the credits may not fully cover the costs incurred by LGI for the project. Any remaining costs will be reimbursed from the impact fee funds as they become available. The city is also planning to construct a regional stormwater detention basin in the Lakeside area, with LGI implementing temporary storm drain basins in the interim.

Spencer Conley, representing LGI Homes, expressed enthusiasm for the project, which will include 158 residential units, comprising single-family homes, twin homes, and townhomes, all designed to meet the city's architectural standards. Construction is slated to begin on March 24, 2025, with home sales expected to start in the summer of 2026.

After a public hearing, the Planning Commission unanimously recommended approval of the development agreement to the City Council. The meeting concluded with a motion to endorse the agreement, reflecting a collaborative effort between the city and LGI Homes to enhance the community's infrastructure and housing options.