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RDA board and council approve Lakeview Parkway community reinvestment plan to incentivize commercial development
Summary
Provo’s RDA Governing Board and municipal council approved a Lakeview Parkway community reinvestment project‑area plan to enable post‑performance tax incentives aimed at spurring hotel, retail and sports‑park–supporting development; any incentives would require later, project‑specific approval.
The Provo Redevelopment Agency Governing Board and the municipal council on Feb. 10 approved the Lakeview Parkway community reinvestment project-area plan, a tool staff said will enable project-specific incentives—most likely post-performance tax incentives—to encourage commercial development near the Epic Sports Park and airport.
RDA Director Melissa McNally said select parcels near the sports park and the University Avenue on‑ramp are included because development in those locations requires significant infrastructure work and flood-plain remediation. She emphasized any incentives would be offered only through subsequent council/RDA action for specific projects and are not binding simply because the plan was adopted.
During public comment and board discussion, some members urged waiting until an upcoming economic-development study identifies priority areas; others argued the area requires timely incentives to attract hotels and amenities that support the sports park and airport and described tax-increment or post-performance incentives as reversible tools.
The RDA board and the council each voted 6–0 to approve the project-area plan. Staff said specific incentive packages would return to the governing bodies for approval if developers come forward.
