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Riverton CRA deal draws scrutiny over notice, valuation and public transparency
Summary
Riverton City officials told the committee they transferred two parcels (including a detention pond) to their redevelopment agency and entered a development agreement; lawmakers pressed on missing online notices, lack of competitive solicitation, appraisal documentation and whether the public received value equivalent to roughly $1.1 million in transferred property.
Riverton City officials described a downtown redevelopment transaction that transferred two city-owned parcels — including a UDOT detention pond — to the Riverton City Redevelopment Agency and then to a developer who assembled adjacent parcels.
"It was a pretty challenged piece of property," said Craig Smith, legal counsel to the Riverton redevelopment agency, describing marshaling, an underground detention solution and about $1,100,000 in work to make the site buildable. Kevin Hicks, the city's manager, said the developer undergrounded the pond and is building a retail center (referred to in the materials as the Page retail plaza).
Representative Walter…
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