Old Grist Mill redevelopment: council hears options for parking, signage and financial incentives

Bruce Leishman briefed the council on the Old Grist Mill project and options for incentivizing redevelopment, including grants and no‑interest city loans.

Leishman described two recent approaches used in other Utah communities: an RDA grant on the order of roughly $160,000–$180,000 that paid for parking and façade work, and an eight‑year no‑interest loan structure where the city fronted infrastructure costs that were repaid over time. He said he has experience with both models and noted the importance of timing and realistic bids. Staff noted that while signage bids are not complete, council now has two parking‑lot bids (with the Johnson bid judged more realistic) and recommended the city coordinate with its economic development committee to determine appropriate financial structure and timing.

Why it matters: The downtown redevelopment project could reuse a vacant building and bring new activity to Main Street, but it requires up‑front capital for parking, signage and exterior work. The council asked that staff return with concrete financing options tied to the city’s capital plan and asset schedule so decisions align with upcoming budget priorities.

Meeting outcome: Council did not take final action but asked staff to work with the economic development committee and the consultant to prepare recommendations (cost estimates and incentive structure) for a future council meeting.