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Provo RDA tentatively adopts FY2026 budget, approves MOA to keep Mountain Vista mitigation obligations and corrects Freedom Plaza tax-increment share
Summary
The Provo Redevelopment Agency board tentatively adopted its FY2026 budget, approved a memorandum of agreement allowing Hall Labs to transfer a Mountain Vista property sale while retaining mitigation obligations, and amended an interlocal agreement to set Freedom Plaza tax-increment participation at 100% as originally agreed.
The Provo Redevelopment Agency (RDA) governing board on Monday tentatively adopted its FY2026 budget and handled multiple property and tax-increment items.
RDA Executive Director Melissa McNally presented the tentative RDA budget and said public hearings on the RDA budget will occur on June 3 and June 17. She also presented a memorandum of agreement that would allow Hall Labs to sell a property in the Mountain Vista Business Park and obligate the buyer to complete required environmental mitigation. “This approval allows them to sell it and also transfer over the obligation to get the mitigation done,” McNally said.
The board also approved an amendment to an interlocal agreement for the Freedom Plaza Community Development Project Area. McNally told the board that the participation agreement with PEG Development and Utah County had envisioned Provo participating at 100% of the tax increment; the recorded interlocal had listed 75%. The amendment updates the record to the 100% participation rate the parties originally expected.
Votes and process: The RDA board approved the tentative RDA budget by a 6–0 vote with Board Member Christensen excused. The MOA for the Mountain Vista property sale and the interlocal amendment for Freedom Plaza also passed by unanimous 6–0 votes with Christensen excused. McNally said details of the sale and the mitigation obligations will come back to the board in subsequent documents.
Why it matters: The Mountain Vista MOA ensures remediation responsibilities remain enforceable after a sale, and the Freedom Plaza amendment aligns recorded documents with the economic-participation terms the RDA and partners agreed earlier.
