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Committee substitutes and then holds convention‑center reinvestment zone bill for further public review
Summary
Senate Bill 26’s second substitute would amend HTRZ rules and create a Convention Center Reinvestment Zone to fund renovation of downtown convention and cultural facilities using incremental tax revenues directed to a public improvement district.
Senator Harper presented second substitute Senate Bill 26, a set of amendments to the state's Housing and Transit Reinvestment Zone (HTRZ) statutes and a new, narrowly drawn Convention Center Reinvestment Zone (CCRZ). The sponsor said the bill clarifies timing rules, minimum unit thresholds and some definitions in the existing HTRZ program and establishes a new financing structure limited to roughly three 10‑acre blocks that include the Salt Palace Convention Center, Abravanel Hall and the Utah Museum of Culture and Arts.
Under the CCRZ structure described by the sponsor, a public improvement district (PID) would be established for the convention center area and incremental sales and/or property tax revenues generated above a base year would be available to finance renovation, expansion and related public…
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