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Redevelopment Agency board acknowledges tentative RDA budget and discusses using tax increment to prep land for development
Summary
The Perry City Redevelopment Agency acknowledged its tentative FY2026–27 budget and discussed using remaining tax‑increment funds to reimburse bond costs this year, fill wetlands and extend infrastructure to make city‑owned parcels development‑ready; the board voted unanimously to acknowledge the budget.
The Perry City Redevelopment Agency board on May 14 accepted receipt of its tentative FY2026–27 budget and debated how remaining tax‑increment funds should be used. City staff told the board that, after administrative fees and reimbursements, $217,001.43 could be contributed back to Perry City this year to complete reimbursement related to a developer bond; after the next two years the only increment available would be property‑tax increment and the RDA’s ability to cover the bond would end.
Shanna Johnson outlined projected RDA revenues and the uses typically allowed in community development areas: street construction, wetlands fill, infrastructure and developer incentives. She said projected increments include $54,060 in property‑tax increment and $167,009.75 in sales tax increment. Board members asked whether dissolving the RDA was an option; staff said dissolution would stop future increment collections and that continuing the RDA could allow the city to fund land improvements that make parcels attractive to developers.
Council member Blake pressed for a clear plan for the RDA if agreements are to continue. "Grab it. Grab it. Grab it," a board member said in urging use of funds now, but other members emphasized weighing the long‑term value of holding the agency dormant in case larger development opportunities arise. Staff and the board also discussed access and transportation constraints for the redevelopment area and whether the city could work with the Utah Department of Transportation on new access points.
The board moved to acknowledge receipt of the tentative RDA budget; the vote was unanimous. Staff said they will verify sales‑tax projections flagged during the presentation and correct any errors before final adoption.
