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Provo RDA outlines Lakeview Parkway CRA; Walmart proposal seeks up to $8.9M in city support
Summary
Provo's RDA presented a Lakeview Parkway community reinvestment area and a cost-benefit analysis for a proposed Walmart supercenter. Staff said extraordinary site costs are high ($~13.3M) and the developer is requesting about $8.9M in assistance (ARPA funds, fill/dirt and post-performance sales-tax incentives); councilors asked for more farmer outreach, wetlands protections and traffic mitigation.
Provo's Redevelopment Agency on Dec. 16 presented a proposed Lakeview Parkway community reinvestment area (CRA) and a linked cost-benefit analysis for a Walmart supercenter that would anchor mixed retail and rental townhomes.
RDA Director Melissa McNally said the project-area plan covers parcels adjacent to Lakeview Parkway, the Epic Sports Park and airport-support lands. She said the area plan is intended to support infill and commercial opportunities and that, at this time, no property-tax increment is planned; incentives under consideration would be sales-tax based and targeted to specific developers.
Cody Hill, Provo's economic-development division director, presented the Walmart cost-benefit analysis. Hill said extraordinary site-development costs (earthwork to raise site elevation, storm-drain work, and additional Utah Department of Transportation interchange improvements) have risen since earlier estimates and now approach $13.3 million. To cover a portion of those costs the developer is asking the…
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