Utah Code 17C-2-103. Urban renewal project area plan requirements
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(1) An agency shall ensure that each urban renewal project area plan and proposed project area plan:
Terms Used In Utah Code 17C-2-103
- Community: means a county or municipality. See Utah Code 17C-1-102
- Development impediment: means a condition of an area that meets the requirements described in Section
17C-2-303 for an urban renewal project area or Section17C-5-405 for a community reinvestment project area. See Utah Code 17C-1-102 - Land: includes :(18)(a) land;(18)(b) a tenement;(18)(c) a hereditament;(18)(d) a water right;(18)(e) a possessory right; and(18)(f) a claim. See Utah Code 68-3-12.5
- Participant: means one or more persons that enter into a participation agreement with an agency. 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 development: means activity within a project area that, as determined by the board, encourages, promotes, or provides development or redevelopment for the purpose of implementing a project area plan, including:
(48)(a) promoting, creating, or retaining public or private jobs within the state or a community;(48)(b) providing office, manufacturing, warehousing, distribution, parking, or other facilities or improvements;(48)(c) planning, designing, demolishing, clearing, constructing, rehabilitating, or remediating environmental issues;(48)(d) providing residential, commercial, industrial, public, or other structures or spaces, including recreational and other facilities incidental or appurtenant to the structures or spaces;(48)(e) altering, improving, modernizing, demolishing, reconstructing, or rehabilitating existing structures;(48)(f) providing open space, including streets or other public grounds or space around buildings;(48)(g) providing public or private buildings, infrastructure, structures, or improvements;(48)(h) relocating a business;(48)(i) improving public or private recreation areas or other public grounds;(48)(j) eliminating a development impediment or the causes of a development impediment;(48)(k) redevelopment as defined under the law in effect before May 1, 2006; or(48)(l) any activity described in this Subsection (48) outside of a project area that the board determines to be a benefit to the project area. See Utah Code 17C-1-102- Project area funds: means tax increment or sales and use tax revenue that an agency receives under a project area budget adopted by a taxing entity committee or an interlocal agreement. See Utah Code 17C-1-102
- Project area plan: means an urban renewal project area plan, an economic development project area plan, a community development project area plan, or a community reinvestment project area plan that, after the project area plan's effective date, guides and controls the project area development. See Utah Code 17C-1-102
- State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
- Tax increment: means the difference between:
(61)(a)(i) the amount of property tax revenue generated each tax year by a taxing entity from the area within a project area designated in the project area plan as the area from which tax increment is to be collected, using the current assessed value of the property and each taxing entity's current certified tax rate as defined in Section59-2-924 ; and(61)(a)(ii) the amount of property tax revenue that would be generated from that same area using the base taxable value of the property and each taxing entity's current certified tax rate as defined in Section59-2-924 . See Utah Code 17C-1-102(1)(a) describes the boundaries of the project area, subject to Section 17C-1-414, if applicable;(1)(b) contains a general statement of the land uses, layout of principal streets, population densities, and building intensities of the project area and how they will be affected by the project area development;(1)(c) states the standards that will guide the project area development;(1)(d) shows how the purposes of this title will be attained by the project area development;(1)(e) is consistent with the general plan of the community in which the project area is located and show that the project area development will conform to the community’s general plan;(1)(f) describes how the project area development will reduce or eliminate a development impediment in the project area;(1)(g) describes any specific project or projects that are the object of the proposed project area development;(1)(h) identifies how a participant will be selected to undertake the project area development and identify each participant currently involved in the project area development;(1)(i) states the reasons for the selection of the project area;(1)(j) describes the physical, social, and economic conditions existing in the project area;(1)(k) describes any tax incentives offered private entities for facilities located in the project area;(1)(l) includes the analysis described in Subsection (2);(1)(m) if any of the existing buildings or uses in the project area are included in or eligible for inclusion in the National Register of Historic Places or the State Register, states that the agency shall comply with Section 9-8a-404 as though the agency were a state agency; and(1)(n) includes other information that the agency determines to be necessary or advisable.(2) An agency shall ensure that each analysis under Subsection (1)(l) considers:(2)(a) the benefit of any financial assistance or other public subsidy proposed to be provided by the agency, including:(2)(a)(i) an evaluation of the reasonableness of the costs of the project area development;(2)(a)(ii) efforts the agency or participant has made or will make to maximize private investment;(2)(a)(iii) the rationale for use of tax increment, including an analysis of whether the proposed project area development might reasonably be expected to occur in the foreseeable future solely through private investment; and(2)(a)(iv) an estimate of the total amount of tax increment that will be expended in undertaking project area development and the project area funds collection period; and(2)(b) the anticipated public benefit to be derived from the project area development, including:(2)(b)(i) the beneficial influences upon the tax base of the community;(2)(b)(ii) the associated business and economic activity likely to be stimulated; and(2)(b)(iii) whether adoption of the project area plan is necessary and appropriate to reduce or eliminate a development impediment.