[CALL TO ORDER]
[00:00:05]
THE REDEVELOPMENT AGENCY MEETING FOR WEST JORDAN CITY FOR TUESDAY, JANUARY 28TH, 2025. ALL OF THE COUNCIL MEMBERS, EXCEPT FOR COUNCIL MEMBER BLUM ARE IN ATTENDANCE. SHE HAS BEEN EXCUSED. WHAT WAS THAT? BOARD MEMBERS. OH, SORRY. ALL THE BOARD MEMBERS EXCEPT BOARD
[BUSINESS ITEMS]
MEMBER BLUM. AND SHE HAS BEEN EXCUSED AT THIS TIME. WE WILL MOVE FORWARD WITH DAVID DOBBINS PRESENTING OUR QUARTERLY RDA UPDATE. AND JUST A QUICK REMINDER FOR THE BOARD MEMBERS, THIS WAS ACTUALLY OUR DECEMBER REPORT, BUT WE MOVED IT TO HERE. SO WE WILL ALSO HAVE A REPORT SLASH RDA MEETING IN MARCH AS WELL. SO DAVID GO AHEAD. I'LL TRY TO BE QUICK. YOU HAD A LONG EVENING ALREADY. WHAT I'D LIKE TO DO IS FOCUS TONIGHT A LITTLE BIT ON THE CITY CENTER. WE'VE HAD A LOT OF DISCUSSIONS WITH DEVELOPERS WHO HAVE LOOKED AT IT. WE HAD SOME DISCUSSION AT THE RETREAT AS WELL. SO I'M GOING TO GIVE YOU A QUICK UPDATE ON WHAT WE'VE BEEN DOING WITH THAT. AGAIN. HISTORICALLY, THERE WAS AN RDA IN PLACE FOR THIS AREA THAT HAS SINCE EXPIRED. IT HAS A VERY MINIMAL BALANCE, WHICH IS RESTRICTED TO AFFORDABLE HOUSING, SO THAT MONEY CAN BE USED WITHIN THIS AREA TO HELP ACHIEVE SOME OF THAT GOAL. HERE'S THE MAJOR PROPERTY OWNERS WITHIN THIS AREA. SO AGAIN WE'RE KIND OF TALKING ABOUT THE STATION AREA PLAN THAT YOU PREVIOUSLY ADOPTED. YOU HAVE THE SCHOOL DISTRICT, WHICH OWNS ABOUT 17 ACRES. UTA OWNS EIGHT ACRES. THE CITY OWNS JUST A COUPLE OF ACRES. AND THEN YOU HAVE PRIVATE PROPERTY OWNERS, DIFFERENT PROPERTY OWNERS WHO MAKE UP ABOUT 20 ISH ACRES. SO THAT'S WHAT WE'RE LOOKING AT IN TERMS OF WHO ACTUALLY OWNS THE PROPERTY. THIS IS PULLED FROM THE ADOPTED CITY CENTER STATION STATION AREA PLAN. AND YOU CAN SEE ON HERE THAT IT SHOWS KIND OF WHAT THIS AREA IS INTENDED FOR. I EXTRACTED OUT PHASES ONE A AND ONE B, AND ONE A IS OFFICE SPACE FOR THE SCHOOL DISTRICT, AND THEN ONE B IS HIGH DENSITY ON UTA'S PROPERTY. NOW UTA, AS A PROPERTY OWNER HAS A SAY IN WHAT HAPPENS IN THIS AREA BECAUSE THEY OWN THE PROPERTY. OBVIOUSLY THEY WANT TO CONTROL IT. WE'VE HAD DISCUSSIONS WITH THEM. THEY DO WANT TO BE A PARTNER IN THE DEVELOPMENT. THEIR GOAL IS TO SEE SOME KIND OF HIGH DENSITY, HOUSING SLASH MIXED USE DEVELOPMENT THAT WILL PROMOTE RIDERSHIP AROUND THIS AREA. SO I THINK THEIR GOAL IS ALIGNED WITH BOTH THE CITY'S AND THE RDA'S GOALS AS WELL. PHASE TWO HAS JUST TO THE NORTH OF THE PHASE ONE SHOWS A NUMBER OF BUILDINGS IN THERE. IT'S A MIXED USE, A MARKET HALL, INCUBATOR SPACE, RESTAURANTS, RETAIL AND A HOTEL. AS WE'VE TALKED WITH DEVELOPERS, THEY HAVE LOOKED AT THAT FRONTAGE ALONG REDWOOD ROAD AND HAVE SAID, THAT'S SOME GREAT RETAIL PADS. AND SO THEY REALLY WOULD LIKE TO SEE THAT HAPPEN. NOW, ONE OF THE THINGS THAT WE START TO START TO DISCUSS IS WHAT'S THE TIMING OF THIS. SO THE SCHOOL DISTRICT OBVIOUSLY HAS ONE OF THE BIGGEST PROPERTY OWNERS. AND AS A TAXING ENTITY HAS A SAY IN WHAT HAPPENS WITH THAT PROPERTY. THEY HAVE MADE IT CLEAR AND WE'VE HAD DISCUSSIONS WITH YOU BEFORE THAT THEIR GOAL IS TO JUST BE MADE WHOLE. THEY WOULD LIKE A PLAN. A COUPLE OF PROPOSALS PRESENTED TO THEM. WHAT THEY WOULD LIKE TO SEE IS TO HAVE THEIR OFFICE OR THEIR WAREHOUSE SPACE MOVED SOMEWHERE ELSE WITHIN THE DISTRICT, AND THEN HAVE THEIR OFFICE SPACE EITHER PROVIDED ON SITE AT THE CITY CENTER OR SOMEWHERE WITHIN THE DISTRICT. THEY HAVE SAID THEY DON'T HAVE A STRONG DESIRE TO STAY IN THIS LOCATION. NOW, THERE ARE SOME BENEFITS TO HAVING THEM IN THIS LOCATION. THERE ARE SOME BENEFITS TO HAVING THEM STAY WITHIN THE CITY ITSELF, RATHER THAN HAVE THEM GO TO ANOTHER CITY WITHIN THE DISTRICT. SO WE ARE LOOKING AT HOW TO BEST ACCOMMODATE THAT. DAVID, CAN I ASK YOU REAL QUICK, I I'VE HEARD FROM A PREVIOUS BOARD MEMBER THAT AND THIS MIGHT BE HIS OPINION, BUT THEY DON'T MIND BEING IN WEST JORDAN. BUT I'VE ALSO HEARD THERE'S SOME TALK OF MAYBE THEY'D LIKE TO BE MORE CENTRAL WITHIN THE DISTRICT. HAVE YOU HEARD THAT TOO? I HAVEN'T HEARD THAT. OKAY.AND BASICALLY WHAT THEY SAID TO ME WAS MAKE US A PROPOSAL AND MAYBE THERE'S AN OPTION FOR US TO MOVE OUT OF THE CITY CENTER AND MOVE SOMEWHERE ELSE AGAIN, WITHIN THE CITY OR EVEN OUTSIDE.
MAYBE THERE'S A PLACE IN DAYBREAK THAT WOULD MAKE SENSE FOR THEM TO GO TO, BUT WHAT THEY'VE ASKED FOR IS YOU GIVE US A PROPOSAL THAT KEEPS US WHOLE. IN OTHER WORDS, THAT DOESN'T COST THEM ANY MONEY. THEY'VE INVESTED A LOT OF MONEY IN THAT SITE, AND THEY DON'T WANT TO HAVE TO GO OUT AND SPEND MONEY SOMEWHERE ELSE. AND, YOU KNOW, EXPLAIN WHY THEY SPENT TAXPAYER
[00:05:05]
DOLLARS BUILDING A FACILITY WHEN THEY ALREADY HAVE ONE THAT WORKS. SO WHAT THEY'RE LOOKING FOR FROM US IS TO SAY, HERE'S HERE ARE SOME OPTIONS. SO AS WE'VE MET WITH DEVELOPERS, THEY'VE SAID, OKAY, WE KIND OF KNOW THE GROUNDWORK. SO LET'S START LOOKING AT OPTIONS AGAIN.WHAT WE WANT TO DO THOUGH, BEFORE WE GET IS WE WANT TO MAKE SURE THAT THE VISION FOR THE STATION AREA, IT REALLY IT REALLY MEETS WHAT YOU WOULD LIKE TO SEE THERE. MAYBE. CAN YOU HAVE AN ADOPTED STATIONARY PLAN? WE'VE HEARD AGAIN, WE'VE HEARD TERMS LIKE CITY CENTER, WE'VE HEARD DOWNTOWN, WE'VE HEARD ENTERTAINMENT. AND SO THOSE ARE THE KINDS OF THINGS THAT WE WANT TO MAKE SURE THAT WE ARE LOOKING BIG. I THINK THE FIRST COUPLE PHASES REALLY SET THE TONE FOR THIS DEVELOPMENT, AND WE WANT TO MAKE SURE THAT WE'RE DOING IT RIGHT AND THAT WE'RE ATTRACTING THE KINDS OF ENTERTAINMENT AND RETAIL AND RESTAURANTS THAT WE REALLY WANT TO SEE, NOT JUST WITHIN WEST JORDAN, BUT WITHIN THIS TOWN CENTER OR CITY CENTER AREA. SO HERE ARE THE NEXT STEP.
AGAIN, UT WANTS TO MAXIMIZE THEIR PROPERTY BY GOING AS DENSE AS POSSIBLE. AND THAT'S A TRADE OFF BECAUSE ONCE YOU GET A CERTAIN DENSITY, A CERTAIN HEIGHT, THEN YOU START LOOKING AT PARKING STRUCTURES. I THINK WE DON'T WANT TO SEE THIS AREA SURFACE PARKED. IT DOESN'T MAKE A LOT OF SENSE. WHAT DOES MAKE SENSE IS IF YOU HAVE A PARKING STRUCTURE THAT HAS NIGHTTIME USES, DAYTIME USES, RESIDENTIAL USES. AND AGAIN, UT IS A WILLING PARTNER IN THAT. THEY'VE EVEN OFFERED UP SOME PROPERTY TO HELP MOVE. PART OF THE SCHOOL DISTRICT'S WAREHOUSE USES TO ANOTHER PROPERTY THAT THEY OWN AS AS A BECOMES A FINANCIAL OBSTACLE FOR US BECAUSE WHEN YOU START LOOKING AT THE COST, THE COST. THE OTHER DAY, SOMEONE QUOTED ME 40 $45,000 PER STALL FOR A PARKING STRUCTURE. TO ME, THAT JUST SEEMS OUTRAGEOUS. BUT AGAIN, EVERYTHING NOWADAYS SEEMS OUTRAGEOUS TO ME. THE SCHOOL DISTRICT, LIKE I SAID, THEY ARE OKAY RELOCATING BOTH THEIR WAREHOUSE AND OFFICE USE. THEY JUST WANT TO BE MADE WHOLE AND DO IT AT NO COST TO THE DISTRICT. AND AGAIN, THE ADVANTAGE THAT WE HAVE IS THAT BOTH UTA AND THE DISTRICT'S PROPERTY, IN TERMS OF DOING SOME KIND OF TAX INCENTIVE. THEIR, THEIR BASELINE IS AT ZERO. SO YOU HAVE 25 ACRES THAT CURRENTLY IS VALUED FOR TAX PURPOSES AT NOTHING. SO JUST BY PUTTING IT INTO PRIVATE HANDS WOULD AUTOMATICALLY GENERATE INCREMENT OR TAXABLE VALUE FOR THIS PROJECT. AND THEY'VE SAID AGAIN THEY'RE WILLING TO PARTICIPATE IN THAT. THEY JUST WANT US TO GIVE THEM SOME OPTIONS. DAVID WHEN THAT HAPPENS ARE WE ABLE TO. SO YOU SAY RIGHT NOW 25 ACRES, WE'RE GETTING ZERO TAXES BECAUSE IT'S A SCHOOL. BUT IF WE TURN IT INTO RETAIL SLASH HOMES. ET CETERA. IS THERE A WAY TO KEEP THOSE TAX DOLLARS FROM THAT 25 ACRES THERE TO PAY OFF THE DEBT? THAT'S THE IDEA THAT WE WANT TO PURSUE, WHICH IS TO SAY, OKAY, LET'S SAY WE BUILD OUT. LET ME GO BACK REAL QUICK. SO LET'S SAY WE BUILD OUT THIS PLAN THAT YOU SEE IN FRONT OF YOU, AND IT TAKES 20 YEARS. WHAT WE DO IS WE SAY WE TAKE THE CURRENT TAXABLE VALUE, AND WE COMPARE IT TO THAT FUTURE TAXABLE VALUE OF THIS PRIVATE, PRIVATELY DEVELOPED PLAN. AND THEN WHAT WE SAY IS EVERY YEAR, HOW MUCH WILL THAT GENERATE IN TAXABLE VALUE FOR ALL THE TAXING ENTITIES. AND THEN WE WORK WITH THEM TO COME UP WITH A PLAN THAT SAYS WE WANT TO SHARE IN WHAT THAT IS, BECAUSE AT THE END OF THE 20 YEARS, IF WE DO IT RIGHT, THE TAXABLE VALUE TO ALL OF US AS TAXING ENTITIES CAN BE SIGNIFICANT. IF WE DON'T DO IT RIGHT, WE'LL ALL GET A LITTLE BIT OF MONEY. SO REALLY, IT'S AN INVESTMENT ON THEIR PART TO MAKE SURE THAT THEY GET THE BEST LONG TERM VALUE. SO THERE'S A COUPLE OF OPTIONS TO THIS. AND WHAT I'D LIKE TO DO IS TO JUST COME BACK WITH A COUPLE OF DIFFERENT OPTIONS FOR YOU, NOT NECESSARILY TO ACTUALLY VOTE ON, BUT TO JUST WORK THROUGH THE PROCESS WITH YOU. THE FIRST IS A TYPICAL CRA PROJECT AREA WHERE WE GO IN AND WE MAP OUT THE DEVELOPMENT. WE LOOK AT THE TIMELINE, WE LOOK AT THE TAX INCREMENT THAT WOULD COME OFF THIS. WE LOOK AT WHAT A PARKING STRUCTURE WOULD COST AND WHAT THE GOOD PUBLIC USES WOULD BE FOR THAT TAX INCREMENT. ANOTHER OPTION IS FOR US TO LOOK AT DOING THE NICHE TIERS. THAT WOULD ALLOW US TO CAPTURE THAT TAX INCREMENT IN A IN A DIFFERENT MANNER. WE WOULDN'T HAVE TO GO TO THE TAXING ENTITIES INDIVIDUALLY. WE WOULD GO TO THE GOVERNOR'S OFFICE OF ECONOMIC OPPORTUNITY. NOW THERE'S ADVANTAGES AND
[00:10:02]
DISADVANTAGES TO THAT, BOTH POLITICALLY AND FINANCIALLY. I DON'T WHAT I WANT TO DO TONIGHT IS TO LET YOU KNOW THAT WE WANT TO PURSUE BOTH OF THESE STUDIES, TO COME BACK TO YOU AND SHARE THAT INFORMATION WITH YOU AND WITH THE TAXING ENTITIES. WE WANT TO MAKE SURE THAT THEY UNDERSTAND WHERE WE'RE AT AND WHAT THE OPTIONS LOOK LIKE, AND WHICH ONES MAXIMIZE THE RETURN FOR THEM, AS WELL AS WHAT MAKES THE MOST SENSE FOR ACTUALLY MAKING THIS DEVELOPMENT HAPPEN.WHAT WE HAVE ARE DEVELOPERS WHO ARE VERY INTERESTED. I'VE PROBABLY MET NOW WITH EIGHT DIFFERENT DEVELOPERS, ALL THE BIG ONES THAT, YOU KNOW, A COUPLE SMALLER ONES WHO'VE ALL SAID WE ARE REALLY INTERESTED. IT'S A GREAT LOCATION, IT'S GOT GREAT TRANSIT, IT'S GOT GREAT TRAFFIC. AND SO I THINK THE TIME IS RIGHT FOR US TO TRY TO FIGURE OUT HOW TO MAKE THIS DEAL WORK AND GET IT GOING. AND WHAT WE WANT TO DO IS LOOK AT WHAT WHAT MAKES THE MOST SENSE. NOW, I CAN TELL YOU THAT WHEN YOU TALK TO DEVELOPERS AND YOU'VE HEARD THIS FROM MANY OF YOURSELVES, IS THAT THEY NEED SOME ROOFTOPS, RIGHT? SO UT WANTS TO SEE RIDERSHIP. SO THEY'RE GOING TO WANT TO SEE RESIDENTIAL DEVELOPERS WANT TO SEE ROOFTOPS THERE SO THAT WE HAVE PEOPLE THAT GO TO THE RESTAURANTS AND STORES. WE WANT TO MAKE SURE THAT WE'RE CAPTURING THE TRAFFIC. SO IT'S NOT JUST DRIVE BY TRAFFIC THAT THESE PEOPLE ARE STOPPING, AND THEN THEY'RE SPENDING TIME IN THIS DOWNTOWN AREA. SO THAT'S MY PLAN IS TO START THESE TWO PROPOSALS, COME BACK TO YOU IN A COUPLE OF MONTHS AND SHARE THEM WITH YOU, GIVE YOU AN IDEA OF WHAT THEY LOOK LIKE. WE'VE HAD THOSE DISCUSSIONS WITH THE COUNTY AND THE SCHOOL DISTRICT AND UTA, AND THEY'RE ALL EXPECTING THIS. THEY'RE OBVIOUSLY VERY INTERESTED, INTERESTED TO SEE WHAT THOSE NUMBERS LOOK LIKE. BUT I JUST WANTED TO LET YOU KNOW WHERE WE'RE HEADED AND WHAT WE PLAN ON DOING, AND THEN SEE IF YOU HAVE ANY IMMEDIATE FEEDBACK FROM ME TONIGHT. IS THERE ANYTHING IN HERE THAT YOU ARE CONCERNED ABOUT OR ANY QUESTIONS THAT YOU HAVE BEFORE WE GET GOING ON THIS? BOARD MEMBER GREEN. MY ONLY FEEDBACK IS ON THE SCHOOL DISTRICT ONE. IF I HAD MY DRUTHERS, I WOULD LIKE TO KEEP THE DISTRICT ON SITE OVER THERE AND FIGURE OUT HOW TO BUILD THEM ANOTHER BUILDING, BECAUSE I THINK JORDAN SCHOOL DISTRICT, THEY'VE BEEN THERE FOR A LONG TIME. BUT I THINK JORDAN SCHOOL DISTRICT, WITH THEIR EMPLOYEES COMING IN ON A REGULAR BASIS AND THEIR TRAINING AND THOSE KIND OF THINGS, I THINK THEY WOULD BE A VERY GOOD ANCHOR TO HELP START THIS PROJECT. AND I DON'T WANT TO LOSE WHAT WOULD BE A GOOD EMPLOYER AND A GOOD ANCHOR IN THE CITY. SO MY PREFERENCE WOULD BE IF THEY NEED TO RELOCATE THE WAREHOUSE TO OUT ON OLD BINGHAM HIGHWAY. I THINK THAT'S WHAT WE'RE TALKING ABOUT. IF THAT'S THAT'S GREAT, BUT I WOULD LIKE TO KEEP THEIR EMPLOYEES AND THE, THE CLASSIFIED ADMINISTRATIVE AND TRAINING SPACE SOMEPLACE HERE ACROSS THE STREET. GOOD. ONE OF THE ADVANTAGES TO THAT IS OFFICE IS DIFFICULT. THE OFFICE MARKET, YOU'RE NOT SEEING A LOT OF NEW OFFICE SPACE GOING UP. SO IT WOULD BE A CHALLENGE TO BUILD NEW OFFICE SPACE ON SITE. BUT IF THEY HAVE A BUILT IN TENANT, IT MAKES IT MUCH EASIER FOR THEM TO DO THAT. SO THERE'S SOME ADVANTAGES, DIFFERENT ADVANTAGES TO BEING ABLE TO. BOARD MEMBER SHELTON. SO ONE CONCERN I HAVE ABOUT KEEPING THE SCHOOL DISTRICT ON SITE IS WHAT IMPACT THAT MIGHT HAVE ON TIF OPTIONS. CAN YOU TALK ABOUT THAT? SURE. SO ONE OF THE THINGS THAT WE LOOKED AT WHEN WE LOOK AT THIS SITE ITSELF, IF YOU LOOK AT, YOU KNOW, PHASE ONE A IT WOULD TAKE THEM. I MEAN, WHAT WE'VE WHAT MY VISION IS, IS LIKE A 4 OR 5 STORY OFFICE BUILDING. SO INSTEAD OF SPREADING THEM OUT OVER 17 ACRES, WE'RE CONSOLIDATING THEM INTO A, YOU KNOW, A STANDARD FLOOR PLATE FOR OFFICE BUILDINGS, 25,000FT■!S. U KNOW, MAYBE WE CAN FIT THEM WITHIN, YOU KNOW, A COUPLE OF ACRES AND MAYBE THEY HAVE SOME OTHER PRIVATE TENANTS WITHIN THE BUILDING. BUT THAT FREES UP THE REST OF THAT SITE FOR OTHER PRIVATE DEVELOPMENT, AND IT GIVES THEM GOOD ACCESS TO THE FIRE TRACK STATION AS WELL, BUT IT KEEPS THEM ON THE SITE, BUT NOT TAKING UP SO MUCH SPACE. IF WE DO A PARKING STRUCTURE AS WELL, THEY CAN SHARE THAT PARKING STRUCTURE DURING THE DAY FOR THEIR EMPLOYEES THAT ARE COMING IN AND WHEN THEY LEAVE, THEN THE TENANTS AND THE HOUSING WILL BE COMING BACK. WE'LL OBVIOUSLY HAVE TO ANALYZE HOW THAT'S SHARED TO MAKE SURE IT WORKS. BUT THAT'S ONE WAY TO ACCOMMODATE THEM ON THE SITE.
SORRY. IF IT'S OWNED BY THE SCHOOL DISTRICT, IT'S NOT TAXABLE, AT LEAST THAT IT'S A SMALLER PIECE OF GROUND, BUT A VERY VALUABLE AND POTENTIALLY HIGHLY TAXABLE BUILDING. IT'S NO LONGER BEING TAXED IF IT'S OWNED BY THE SCHOOL DISTRICT. HOW DO WE WORK AROUND THAT? YEAH. SO
[00:15:01]
THAT'S ONE OF THE THINGS THAT WE'VE TALKED WITH DEVELOPERS IS THEY WOULD ACTUALLY AGAIN, WE HAVE TO DO THE FINANCIAL ANALYSIS TO SHOW THIS, BUT IT MAY MAKE SENSE FOR A DEVELOPER TO SAY, I'VE GOT A TENANT THAT I WOULD THEN BUILD IN. MAYBE THEY DON'T PAY RENT FOR THE FIRST TEN YEARS OR SOMETHING, OR THEY GET ENOUGH INCREMENT OFF OF THE 20, THE 17 ACRES THAT THE DISTRICT OWNS THAT IT MAKES FINANCIAL SENSE. BUT WE HAVEN'T DONE THAT ANALYSIS YET. SO WE HAVE TO MAKE SURE THAT IT WORKS FOR THEM. BOARD MEMBER JACOB. HOWE, COUNCIL MEMBER SHELTON BRINGS UP A GOOD POINT. HOW DOES IT WORK IF THE BUILDING IS PRIVATELY OWNED BUT LEASED BY THE SCHOOL DISTRICT? AS FAR AS PROPERTY TAXES, PRIVATELY OWNED, IT WOULD BE TAXED. THAT WOULD JUST WORK INTO WHATEVER AGREEMENT OR LEASE AGREEMENT THEY HAVE WITH THAT TO WITH THE SCHOOL DISTRICT. OKAY.MY SECOND THOUGHT ON THAT IS I WOULD PREFER TO SEE THE BUILDING EXCEED WHAT THE SCHOOL DISTRICT NEEDS NOW FOR TWO REASONS. ONE IS OTHER ENTITIES CAN COME IN AND LEASE SPACE AS WELL, AND TWO, AS THE SCHOOL DISTRICT EXPANDS, IT GIVES THEM A PLACE TO GO WHILE THEY'RE HERE, RIGHT? SO AS AS THEY NEED MORE SPACE, THEY COULD HAVE IT. SO THAT MAKES SENSE. CAN YOU GO BACK TO THE BIGGER PICTURE THAT SHOWS ALL OF THE PARCELS BIGGER THAN THAT? THAT ONE RIGHT THERE.
OKAY. SO I LIKE TO CALL THIS ONE PIE IN THE SKY. AND I'LL TELL YOU WHY. BECAUSE I'VE SEEN MANY ITERATIONS OF THIS. SO MY QUESTION FOR YOU IS WE'RE SEEING MANY AREAS THAT ALREADY HAVE STUFF THERE. YOU KNOW, WHETHER IT'S ON THE WEST SIDE OF REDWOOD OR WHETHER IT'S ON THE NORTH SIDE OF 78TH, OR WHETHER IT'S EAST OF WHAT THE SCHOOL DISTRICT IS. HOW DO WE GO ABOUT PROPOSING SOMETHING LIKE THIS, KNOWING THAT ALL OF THOSE AREAS ARE OWNED BY SOMEONE ELSE AND CURRENTLY HAVE STUFF ON IT, WHEN THE REALITY IS, THE ONLY ONE WE CAN REALLY DEVELOP RIGHT NOW IS THIS SECTION NEXT TO REDWOOD, WHICH IS WHERE THE DISTRICT IS. SO I GUESS MY POINT IS THIS IS GREAT TO LOOK AT THIS, BUT I'M THINKING AS A, YOU KNOW, LANDOWNER, I'M LIKE, I'M NOT GOING TO SELL TO THOSE GUYS. SO REALITY IS ALL WE CAN REALLY DO RIGHT NOW IS DEVELOP JUST THE JORDAN SCHOOL DISTRICT SECTION. SO HOW DO WE MOVE FORWARD JUST ON THAT SECTION, RATHER THAN SAYING, IF WE BUILD THIS, WE GET ALL THIS AS WELL. SO THAT'S WHERE WE WANT TO MAKE SURE OUR OUR DEVELOPMENT PARTNER IS VERY EXPERIENCED IN DOING THIS. AND, AND HOPEFULLY THEY CAN MAKE THE DEVELOPMENT ATTRACTIVE ENOUGH THAT PEOPLE WANT TO BE A PART OF IT. THEY MAY WANT TO SELL.
AGAIN, IT DEPENDS ON HOW WE STRUCTURE THE TAX INCENTIVES, BUT IT'S DEFINITELY A CHALLENGE.
YOU'VE SEEN HOLDOUTS IN OTHER PROJECTS THROUGHOUT THE STATE WHERE YOU'LL SEE A LITTLE ISLAND WHERE SOMEONE SAYS, I'M NOT SELLING WELL. I MEAN, FOR INSTANCE, YOU JUST HAVE THE NEW AYANA'S MARKET THERE ON 78, AND THEN YOU ALSO HAVE IS THAT A PLUMBING SUPPLY THAT'S OVER BY YOU, BRAND NEW BUILDING. THEY JUST BUILT IT LIKE MAYBE 3 OR 4 YEARS AGO. AND WHICH IS IN THIS PIE IN THE SKY AREA. SO I LIKE THE IDEA OF SAYING THIS IS WHAT WE DO FOR THE WHOLE THING. BUT AT THE SAME TIME, REALITY IS WE CAN REALLY ONLY ONLY DEVELOP RIGHT NOW THE JORDAN SCHOOL DISTRICT AREA. AND I THINK THAT'S WHAT WE DO, IS WE FIGURE OUT WHAT THE PHASING WOULD BE, AND WE UNDERSTAND THAT THERE'S SOME PRIVATE DEVELOPMENT THAT IF THEY DON'T PARTICIPATE, THEN THE DEVELOPMENT WOULD HAPPEN IN THOSE AREAS THAT WE HAVE WILLING SELLERS AND WILLING PROPERTY OWNERS. OKAY. BOARD MEMBER JACOB, THANKS. JUST A COMMENT ON THAT. WHAT WHAT I SEE HAPPENING.
AND GRANTED, I'M NOT A PROFESSIONAL, BUT EVERY DEVELOPER I'VE TALKED TO WITH THIS PROJECT IN MIND WHEN I'VE KIND OF SHARED MY VISION FOR IT, THEY ALL SAY THAT THIS MAKES SENSE, SO TAKE IT FOR WHAT IT'S WORTH IS THAT AS WE DEVELOP THE LOW HANGING FRUIT, RIGHT, THE SCHOOL DISTRICT, THE UTA, THE STUFF THAT WE CAN MOVE QUICKLY ON AS THAT DEVELOPS, THE OTHER PROPERTY BECOMES MORE VALUABLE THAN THE USE THAT IT'S ON. IN OTHER WORDS, THE OLD SIZZLER, FOR EXAMPLE, THAT'S NOW LA FRONTERA. I THINK THAT'S ON THE DISTRICT PROPERTY OR SOMETHING.
BUT AS YOU KNOW, THAT THAT NOW BECOMES INSTEAD OF THE VALUE OF A OF A 30 YEAR OLD RESTAURANT OR WHATEVER IT IS THAT'S SITTING THERE NOW BECOMES A FUTURE HIGH DENSITY APARTMENT BUILDING. THAT LAND IS WORTH A LOT OF MONEY. THE LA FRONTERA PEOPLE, OR WHOEVER OWNS THAT IS SITTING ON A GOLDMINE AND THEY GO, WOW, I CAN MOVE MY LA FRONTERA THREE BLOCKS DOWN THE STREET, OR PUT IT IN THE GROUND FLOOR OF ONE OF THESE BIG BUILDINGS AND LEASE THE SPACE. AND SO IT KIND OF SNOWBALLS, RIGHT? AS YOU AS YOU PUT THE PLAN IN PLACE FIRST, WHICH WE'RE, YOU KNOW, GETTING REALLY CLOSE HERE AND THEN WE MOVE ON WHAT CAN BE MOVED ON THE OTHER STUFF THAT IT'S LIKE
[00:20:02]
DOMINOES JUST START KIND OF FALLING AND LIKE, LIKE DAVID SAID, IT'S, YOU KNOW, THIS MAY BE A 20 YEAR PROJECT, BUT THE SOONER WE MOVE ON, THE PARTS THAT WE CAN MOVE ON, THE SHORTER THAT TIME FRAME GETS. AND HAVING DEVELOPERS WHO ARE COMING AND KNOCKING ON THE DOOR. NOW THAT THERE'S A PLAN IN PLACE THAT THE COUNCIL HAS AGREED TO, WHICH HAS BEEN THE HOLDUP, BY THE WAY, FOR THE LAST TEN YEARS NOW, THAT NOW THAT WE'RE WE'VE GOT A BLUEPRINT. THEY'RE NOT THEY'RE KNOCKING DOWN THE DOORS SAYING, LET'S, LET'S GO, LET'S, LET'S DO THIS. SO I'M NOT I'M NOT CONCERNED WITH, YOU KNOW, WHAT WILL HAPPEN WITH, YOU KNOW, ANY SPECIFIC MOBILE HOME OWNER IN THE REDEVELOPED RESIDENTIAL AREA BECAUSE THEIR MOBILE HOME LOT IS GOING TO BE WORTH A WHOLE LOT MORE MONEY ONCE THIS STARTS GOING. AND THEY'LL WANT A REAL HOUSE AT THAT POINT. SO, YOU KNOW, I IT'S JUST GOING TO HAPPEN IS THAT UNTIL IN UTAH, UNTIL PEOPLE SEE SOMETHING COMING OUT OF THE GROUND, THEY DON'T REALLY BELIEVE IT'S GOING TO HAPPEN. AND SO WE REALLY NEED TO GET SOMETHING STARTED SO PEOPLE CAN SAY, OH, YOU'RE ACTUALLY DOING IT. AND NOW I WANT TO BE A PART OF IT. YEAH. ANY OTHER QUESTIONS FOR ME? NOPE. ALL RIGHT. THANK YOU.[CONSENT ITEMS]
THANK YOU VERY MUCH. ALL RIGHT. WE'LL MOVE TO CONSENT ITEMS. DO WE HAVE ANY CONSENT ITEMS? YES.MOVED TO APPROVE CONSENT. SECOND, WE HAVE A MOTION BY BOARD MEMBER GREEN AND A SECOND BY BOARD MEMBER WHITELOCK. DISCUSSION TO THE MOTION. SEEING NONE. DO WE NEED A ROLL CALL VOTE, OR CAN I DO? ALL IN FAVOR, SAY AYE. AYE AYE. ANY OPPOSED? NO. OKAY. I WILL
* This transcript was compiled from uncorrected Closed Captioning.