City drafts development agreement for Vesper amphitheater project

Provo City proposes a development agreement with Vesper Property Company LLC to govern the Vesper amphitheater and hospitality project at the mouth of Provo Canyon. The agreement ties SC3 zoning to a detailed concept plan, requires the developer to fund infrastructure and open space restoration, and sets strict timelines for construction and completion with potential zoning reversion.

Scope & details

The full contract record, as filed.

Contract type

OTHER

Contract term

Developer must commence construction within 3 years and achieve substantial completion within 7 years after final project approval; reimbursement rights for shared infrastructure costs last 10 years after costs are incurred

Renewal

Agreement includes deadlines: developer must acquire title within 1 year of Council approval, commence construction within 3 years of final project approval, and reach substantial completion within 7 years; City may rezone undeveloped property to OSPR and may revert overall zoning if deadlines are not met. Ten-year reimbursement window applies for oversized/shared infrastructure costs; no automatic renewal is specified.

Document type

AgendaPacket

Source document

Provo City Corporation Planning Commission Agenda Packet 2026-06-24

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Provo City Corporation StaffReport Planning Commission Agenda Items 1-3 2026-06-24

PENDING

City of Provo, UtahJun 20, 2026

Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the government contract by Town of Provo?

Vesper Property Company Llc was awarded this government contract by Town of Provo, as recorded on June 24, 2026.

What type of contract is this?

This is a government contract, documented as a agendapacket record.

Where was this contract approved?

This contract appears in Provo City Corporation Planning Commission Agenda Packet 2026-06-24 (AgendaPacket), dated June 24, 2026 from Town of Provo. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Vesper Property Company Llc hold?

Vesper Property Company Llc may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

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