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Herriman agency adopts biennial budget, cites town‑center and tax‑increment developments
Summary
The Herriman City Community Development and Renewal Agency unanimously adopted Resolution R2026-03, approving a final biennial budget for July 1, 2026–June 30, 2028. Staff highlighted anticipated taxable value from the Town Center, tax‑increment agreements, a $680,000 capital outlay for ponds, and a 16% catch‑up in the Anthem CRA.
The Herriman City Community Development and Renewal Agency voted unanimously Thursday to adopt Resolution R2026-03, approving the final biennial budget for the fiscal years beginning July 1, 2026, and ending June 30, 2028.
Kyle, a city staff member presenting the budget, said the biggest near‑term change is expected in the Herriman Town Center where development along the 134th and Mountain View corridor should begin contributing taxable value in fiscal 2028. He said existing tax‑increment agreements are tied to taxable value and that associated payments will increase as development occurs.
Kyle said the business center is showing modest projected tax growth and noted a large apartment complex is expected but that its taxable value has not yet appeared on the rolls, so staff budgeted conservatively. He identified a $680,000 capital outlay in the budget for ponds “around the Slick campus” that is part of a reimbursement agreement and explained that related incentive payments reduce the developer's taxable increment in the near term.
On the Anthem community reinvestment area (CRA), Kyle said property tax for fiscal 2027 reflects about a 16% jump as a catch‑up from prior years; budgets for fiscal 2026 were prepared in 2024 and more development has since occurred in that project area. He said tax‑increment payments to developers for infrastructure repayment are rising by roughly the same proportion.
Kyle said the Innovation CRA is expected to hold roughly level because it contains a single project and an existing tax incentive agreement has not yet been triggered. He said Herriman North CRA, the auto‑mall area, is a sales‑tax project area and the city is anticipating its first auto retailer to open next year; because it is a sales‑tax area, property tax increment is not collected there.
After the presentation, a member moved to adopt Resolution R2026-03; the motion was seconded. Recorded votes show Tara, Matt and Jared voted yes, the chair also voted yes, and the chair stated the motion carried 4‑0.
Separately, officials announced that they had not received necessary information from the county for several related meetings. The board opened the Herriman City Fire Service Area and Herriman City Safety Enforcement Area meetings and moved to continue all items to an amended date of Thursday, June 18, at 4:00 p.m.; those continuance motions were seconded and approved. The sessions adjourned with the next convening scheduled June 18 as noted.
The agency did not take further substantive action on programmatic changes during the meeting; staff said they will proceed with implementation steps tied to adopted budget allocations and ongoing tax‑increment obligations.
