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Price redevelopment agency sets tentative FY 2026–27 budget hearing; discusses using tax-increment funds for infrastructure
Summary
The Price Community Development and Urban Renewal Agency authorized a tentative FY 2026–27 budget and scheduled a public hearing for June 24; members discussed using leftover tax-increment funds from the East Price Redevelopment Zone to pay for infrastructure and possible water-line connections.
The Price Community Development and Urban Renewal Agency on June 10 authorized a tentative fiscal year 2026–27 budget and set a public hearing for June 24 at 5:30 p.m. in the City Council Chambers, 185 East Main, Price. The Chair called the meeting to order at 6:29 p.m. and read the agenda item and hearing details.
The item is the first step in the agency’s budget process: the body approved the tentative budget and authorized publication of a class A notice under the statute cited in the meeting for at least seven days before the hearing. The Chair said the hearing will be held on June 24 at 5:30 p.m. in the City Council Chambers.
During discussion, a Committee member said the remaining balance under consideration "was originally tax increment in the East Price Redevelopment Zone" and that several projects previously identified for the funds "didn't come to fruition," meaning the money has remained in the redevelopment project area. The Committee member said the funds must be used for infrastructure and utilities within that project boundary.
The Chair and the Committee member discussed specific infrastructure possibilities, including whether the funds could be used to close a water-line loop. The Chair noted existing dead-end water lines by the hospital and asked whether the city could connect its lines with "Primoid's water line" near Airport Road. The Committee member described the route along East Main by Los Amigos restaurant up to the corner of Airport Road and toward the airport, and said there are properties along the route the project would need to address.
The Chair said a final decision on how to use the funds could not be made that night and asked for a motion to adopt the tentative budget and authorize the public hearing. A Committee member moved, stating, "I move that we approve what you just said," and seconded the motion; members voted in favor by voice. The Chair announced the motion passed.
The agency then approved a motion to close the meeting by voice vote. The Chair closed the meeting at 6:32 p.m.
Next steps: the tentative budget will be the subject of a public hearing on June 24 at 5:30 p.m.; public notice will be published for at least seven days prior as the agency moves through the formal adoption process.
