EAC approves $5 million loan to support Promontory Commerce Center infrastructure after reconsideration

The Executive Appropriations Committee on Sept. 15 approved a $5 million loan for PCC Land LLC to fund regional infrastructure in the Promontory Commerce Center (West Weber) project area after an initial motion earlier in the meeting failed and the committee later reconsidered the item.

Arlene Gibson of the Utah Inland Port Authority presented the proposal, describing a three‑year loan at an interest rate of 3.28 percent and a repayment source of company funds plus future tax increment. Gibson said the loan will fund water and sewer infrastructure as a match for locally provided ARPA funds and that collateral will be a second‑position lien on the land.

The loan is one of awards available through the Authority Infrastructure Loan Bank, a $65 million loan pool the authority administers. Gibson said the funding will allow infrastructure to be “right sized” and extended to serve future development in the area.

The item initially failed on an earlier roll call during the meeting. Later, Senator Cullimore asked to reconsider the previously failed Inland Port loan vote; on reconsideration the committee approved the loan and the motion to authorize execution. Ben Hart, executive director of the Utah Inland Port Authority, said the Inland Port and Weber County had already coordinated matching funds and that the authority follows a multi‑step vetting process for loans (staff review, a loan committee, the authority board, then EAC).

What the committee approved: a $5,000,000, three‑year loan to PCC Land LLC at approximately 3.28 percent interest, secured by a second‑position lien on project land and repayable from company funds and future tax increment; the loan was presented as necessary to advance regional infrastructure for the Promontory Commerce Center.

Next steps: Inland Port staff will finalize loan execution and coordinate with Weber County and other stakeholders on project implementation.