“The (name of agency) has requested $________ in property tax revenues that will be generated by development within the (name of project area) to fund a portion of project costs within the (name of project area). These property tax revenues will be used for the following: (list major budget categories and amounts). These property taxes will be taxes levied by the following governmental entities, and, assuming current tax rates, the taxes paid to the agency for this project area from each taxing entity will be as follows: (list each taxing entity levying taxes and the amount of total taxes that would be paid from each taxing entity). All of the property taxes to be paid to the agency for the development in the project area are taxes that will be generated only if the project area is developed.

     All concerned citizens are invited to attend the project area budget hearing scheduled for (date, time, and place of hearing). A copy of the (name of project area) project area budget is available at the offices of (name of agency and office address).”; and

Terms Used In Utah Code 17C-1-809

• Budget hearing: means the public hearing on a proposed project area budget required under Subsection 17C-2-201(2)(d) for an urban renewal project area budget, Subsection 17C-3-201(2)(d) for an economic development project area budget, or Subsection 17C-5-302(2)(e) for a community reinvestment project area budget. See Utah Code 17C-1-102
• Project area: means the geographic area described in a project area plan within which the project area development described in the project area plan takes place or is proposed to take place. See Utah Code 17C-1-102
• Project area budget: means a multiyear projection of annual or cumulative revenues and expenses and other fiscal matters pertaining to a project area prepared in accordance with:
       (47)(a) for an urban renewal project area, Section 17C-2-201;
       (47)(b) for an economic development project area, Section 17C-3-201;
       (47)(c) for a community development project area, Section 17C-4-204; or
       (47)(d) for a community reinvestment project area, Section 17C-5-302. See Utah Code 17C-1-102
• Property: includes both real and personal property. See Utah Code 68-3-12.5
• Property tax: includes a privilege tax imposed under Title 59, Chapter 4, Privilege Tax. See Utah Code 17C-1-102
• Taxing entity: means a public entity that:
       (62)(a) levies a tax on property located within a project area; or
       (62)(b) imposes a sales and use tax under Title 59, Chapter 12, Sales and Use Tax Act. See Utah Code 17C-1-102