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Kaysville seeks county participation in downtown CRA with $10 million cap; commissioners discuss timing and options
Summary
Kaysville city leaders asked Davis County to participate in a Community Reinvestment Area covering ~262 acres (about 40 vacant acres) with an ask for 60% participation by taxing entities for 15 years, a city commitment of 80%, projected $5.1M in increment and a $10M cap. Commissioners discussed UDOT coordination, bonding, reimbursement agreements and reducing the county cap if other funds are secured.
Kaysville officials asked the Davis County Commission at a work session to approve a Community Reinvestment Area (CRA) to encourage downtown redevelopment and preserve the old library building. The project area covers roughly 261–262 acres, of which city staff said about 40 acres are currently vacant. The city presented a financing request that would capture new tax increment beginning with base year 2023 and run for 15 years.
City staff said the CRA proposal would set a $10,000,000 cap on county participation, project a total of about $5.1 million in tax increment over 15 years and anticipate roughly $4.4 million available for revitalization after…
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