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RDA approves participation agreement with Joe Mack LLC including option on phased acreage
Summary
Daggett County RDA approved a participation agreement with Joe Mack LLC under which the developer will pay a flat $7,500 and hold a right of first refusal for subsequent phases; the agreement includes trust‑deed protections and will be recorded following signature.
RDA staff presented a final participation agreement with Joe Mack LLC that reflected changes discussed at prior meetings, including altering the fee structure to a flat $7,500 and clarifying acreage and phased options. The agreement grants Joe Mack option rights on certain acreage (described as a potential Phase 10) and requires recording and standard closing procedures handled through a title company.
RDA counsel and staff explained the agreement will place the RDA in first position on the related trust deeds and that the structure is intended to protect the RDA's interest while allowing the developer to proceed with phased development using special improvement financing (PID/SID) as appropriate. Commissioners discussed protections, bonding concerns and the RDA's ability to re‑acquire property if phases do not proceed; staff said the agreement includes reversion provisions if approvals are not secured within designated timeframes.
The RDA moved to approve the participation agreement with Joe Mack LLC; the motion passed by voice vote. Staff will collect signatures, record the document and proceed with the closing steps described in the agreement.
