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Board reviews Cottonwood Heights CDRA amendment to swap office building for condos
Summary
The Canyons Board of Education reviewed a proposed amendment to the Cottonwood Heights Canyon Center CDRA that would replace a planned office building with 36 condominiums and remove 17 single-family homes from the district's TIF agreement; staff recommended returning the item on the consent agenda for a future meeting.
At the Canyons Board of Education meeting on Jan. 21, 2025, Leon Wilcox, Canyons district administrator, reviewed a proposed amendment to the Cottonwood Heights Canyon Center Community Development and Redevelopment Agency (CDRA) agreement that would replace a previously planned office building with 36 condominium units and maintain a carve-out for 17 existing single-family homes.
The amendment matters to the school district because the CDRA uses tax increment financing (TIF) that diverts a portion of property tax increments to the redevelopment area; under the current sharing arrangement noted in the meeting, the city receives 70% of the increment while the school district receives 30%.
Wilcox said the original CDRA agreement dates to 2012, and…
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