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Magna CRA to review white paper on possible redevelopment district tied to Ivory Homes project
Summary
Staff told the Magna Community Reinvestment Agency that a white paper outlining infrastructure options and a 10-year tax-increment projection tied to the Ivory Homes development will be circulated tomorrow; the board tabled formal action for a future meeting.
Magna Community Reinvestment Agency staff said on Dec. 9 that a white paper outlining options for a potential redevelopment district will be sent to board members tomorrow and discussed at a subsequent meeting.
Dan Torres, identified in the meeting as a staff member, told the board the prospectus — not yet in members’ meeting packets — includes assumptions and quantified project lists for infrastructure near Mahogany Ridge and Cordero Drive at 4100 South. "I prepared kind of a white paper prospectus outlining ... outlining some assumptions," Torres said, adding he has "put some estimated project costs" and shown "what the revenue would be, from the tax increment, over 10 years." He asked the board to review the materials and indicated the item could be covered at next week’s meeting.
The presentation tied potential tax-increment revenue to the Ivory Homes development, which Torres described as an opportunity to "get ahead of the development" and capture tax increment from the project. The staff preview contained no motion, and board members did not take formal action on establishing a redevelopment district at the Dec. 9 meeting.
Procedural items at the start and end of the session included approval of the CRA’s Nov. 18, 2025 minutes and a motion to adjourn. The board approved the Nov. 18 minutes after a motion and second; the chair called for the vote and the motion carried by verbal ayes. Later, a motion to adjourn passed by verbal ayes and the meeting ended.
Next steps: staff will distribute the white paper to board members (Torres said the document would be sent tomorrow) and the board indicated it planned to consider the item at a future meeting. No public comments were offered during the Dec. 9 meeting.
Votes at a glance - Approval of Nov. 18, 2025 CRA minutes: motion made (transcript identified mover as board member Perkopas; second recorded for board member Sudbury); outcome: approved (verbal ayes reported). - Motion to adjourn Dec. 9, 2025: motion made (transcript identified mover as board member Sudbury; second recorded for Perkopis); outcome: approved (verbal ayes reported).
