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Council approves sale of 28.86 acres near I-15 to Sunpro Corporation for $10,057,128
Summary
Springville City Council voted to approve Resolution 2024-28 to sell roughly 28.86 acres of the former Santana property to Sunpro Corporation for $10,057,128 after a staff presentation described the property's acquisition history, price basis, billboard lease rights and a 120-day due diligence period.
Springville City Council on an undisclosed date approved Resolution 2024-28 authorizing the sale of approximately 28.86 acres of city-owned land (the former "Santana" property near 1600 South) to Sunpro Corporation for $10,057,128.
John, a city staff presenter, told the council the site came into the city roughly around 02/2015 when the city agreed to hold land for MAG Corridor Preservation funds while UDOT planned an interchange. He summarized prior transactions (a Creer-family parcel purchased for about $3.2 million and a roughly 40-acre MAG-derived parcel purchased for about $5,950,000) and said the city’s overall purchase basis was roughly $9,150,000. John said UDOT purchased about 3.83 acres for $1,889,000 as part of the interchange work and that the…
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