Council delays vote on Kaysville City Center Community Reinvestment Area after extended public comment

KAYSVILLE, Utah — The Kaysville City Council deferred final action on a proposed Community Reinvestment Area (CRA) plan and budget for the Kaysville City Center after a long presentation by city staff and numerous public comments from residents and property owners.

City staff described the proposed project area as roughly 261.5 acres, mostly developed and composed primarily of commercial parcels; staff said 15.5% of the land is vacant and 18% is currently residential use. City staff and consultants described tax-increment financing mechanics: under the proposed plan the city would retain 20% of any incremental property tax revenue, the RDA would capture 80% of the increment and the city asked other taxing entities (for example, the county and school district) to participate at 40% of the increment (leaving 60% for the project area) for 15 years. Staff estimated the RDA could receive roughly $5.1 million in incremental funds over the life of the project area,…