OTHERAPPROVED

Eagle Mountain Redevelopment Agency Board Meeting Agenda November 2025

Eagle Mountain RDA, Alpine School District Finalize Tax Increment Deal

Not to exceed $83,583,512 per phase and $494,001,073 total for all phasesCity of Eagle MountainALPINE SCHOOL DISTRICTNovember 18, 2025

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Description

The Eagle Mountain Redevelopment Agency approved an Interlocal Cooperation Agreement with Alpine School District, authorizing remittance of property tax increment revenues generated from the Sweetwater #4 Community Reinvestment Project Area. The agreement allocates up to $494 million over a period not to exceed 40 years and includes provisions for PILOT payments and reduced participation rates.

Contract Details

Contract Amount

Not to exceed $83,583,512 per phase and $494,001,073 total for all phases

Vendor

ALPINE SCHOOL DISTRICT

Agency

City of Eagle Mountain, UT

Contract Type

OTHER

Document Date

November 18, 2025

Contract Term

Up to 20 years per phase, not to exceed 40 years from first phase trigger year

Renewal Date

2065-12-31

Renewal Info

Term is up to 20 years per phase, with total maximum program term capped at 40 years from trigger year of first phase. Termination, modification, or extension are subject to mutual written amendment by both parties through resolution. Participation rates are reduced for the first 5 years for personal property. Agreement may be amended or terminated as described in Section 27(e).