Tremonton City Agency Report 2024 Tax Increment Year
Tremont Center LLC Continues to Receive Tax Increment Reimbursements
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Description
The Tremonton City Redevelopment Agency continues to reimburse Tremont Center, LLC under a restated property tax increment reimbursement agreement, covering primary and secondary infrastructure improvements up to capped amounts. Amendments in 2019 and 2024 adjusted caps and approved additional expenses for interest, legal, and canal company fees.
Contract Details
Contract Amount
Not to exceed $2,234,000 for Primary Improvements; Not to exceed $234,000 for Secondary Improvements
Vendor
TREMONT CENTER LLC
Agency
City of Tremonton, UT
Contract Type
CONSTRUCTION
Document Date
June 2, 2025
Contract Term
From March 1, 2016 through collection cap or maximum term (up to 17 years, ending with 2032 tax year)
Renewal Date
2033-06-01
Renewal Info
Amended by April 16, 2019 (Second Restated Agreement, reducing Primary Cap by $350,000); subject to additional approvals by agency resolution. Sunset upon reimbursement cap or collection period maximum.
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Tremonton City Agency Report 2024 Tax Increment Year
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city-of-tremonton-city-council-meeting-agenda-september-16-2025_105.pdf
city-of-tremonton-city-council-meeting-agenda-september-16-2025_105.pdf
Tremonton City Agency Report 2024 Tax Increment Year
Tremonton City Agency Report 2024 Tax Increment Year
Tremonton City Agency Report 2024 Tax Increment Year
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