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Brigham City approves participation agreement with Utah Inland Port Authority and Nucor Towers and Structures
Summary
The Brigham City Council on Sept. 18 approved a three-way participation agreement with the Utah Inland Port Authority and Nucor Towers and Structures to support infrastructure for a new Nucor facility, including a substation; Nucor will help cover any shortfall in tax-differential revenues that service the city's debt for the work.
Brigham City on Sept. 18 approved a resolution authorizing the city to enter a participation agreement with the Utah Inland Port Authority and Nucor Towers and Structures to help fund infrastructure for a new Nucor facility in the city's Inland Port project area.
The agreement is a three‑way arrangement in which incremental property-tax revenues from the Inland Port (the “property tax differential”) will be applied to debt service on infrastructure the city built — notably a new electrical substation — and Nucor has agreed to cover any shortfall in those tax-differential dollars, city staff said.
Nicole Cottle, Brigham City’s city attorney (joining the meeting online), described the contract terms and the purpose of the…
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