Economic development director reports low retail vacancy, new tenants and ongoing RDA projects
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Summary
Economic development director John Perez gave the council a second-quarter update covering recent business openings, vacancy rates, lead activity and RDA lease confirmations; councilors were told the Broadway property is being reevaluated with state Brownfields assistance and that the EPA has filed paperwork to remove a lien.
John Perez, Tooele City’s economic development director, presented the council with the city’s second-quarter business attraction and pipeline update on Jan. 15, reporting a string of recent openings and low retail vacancy rates.
"Retail is down to just 1.7% vacancy rate," Perez said, and he reported office vacancy at 0% and industrial vacancy at 13.3%. He listed recent grand openings at Founders Point, including Chipotle, as well as Mumbai House, Rome Italian Restaurant and a Panaderia on Main Street. Perez said confirmed RDA-area tenants include Wingstop, Chili’s, Hobby Lobby, Ulta Beauty, 5 Below, TJ Maxx and Sierra Trading Post.
Perez described the lead pipeline for the quarter as modest: four restaurant leads, four retail/hospitality leads, three RFIs responded to and one site visit in November. He said the EDC Utah statewide lead distribution was lighter in the quarter and that Tooele responded to all RFIs it received.
The council heard an update on the Broadway Heritage Apartments site: staff placed a temporary fence and a canvas screen; the city has a planned meeting with the state Brownfields group to review findings and next steps. Council discussion included mention that the EPA had submitted paperwork to the county recorder to remove a lien on the property and that a $30,000 payment to the EPA was completed the same day, according to council discussion.
Perez said the city now has an EDC Utah community profile posted on the Tooele City website and that attendance at economic development networking events had yielded new contacts. He also noted steady social media growth and more than 300 responses to a strategic-plan survey that closed the same day.
Perez said staff continue to coordinate on RDA reimbursements and infrastructure invoices related to the Peterson Industrial Depot and that future updates could include more detailed RDA information if requested by council members.
