PROFESSIONAL_SERVICESAPPROVED

Lehi Redevelopment Agency AgendaPacket Meeting Agenda 2026-06-09

Lehi RDA Approves $237M HTRZ Participation with STACK Soccer Field LLC

80% of property tax increment for up to 25 years per phase, not to exceed 45 years total, estimated at $122M-$237MCity of LehiSTACK SOCCER FIELD LLCJune 9, 2026

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Description

Lehi Redevelopment Agency approved a participation agreement with STACK Soccer Field, LLC, providing up to 80% of property tax increment for up to 25 years per phase, towards the development of multifamily housing and infrastructure within the Housing and Transit Reinvestment Zone. The agreement includes requirements for affordable housing, structured parking, and public infrastructure, with the agency administering reimbursement after each phase’s completion.

Contract Details

Contract Amount

80% of property tax increment for up to 25 years per phase, not to exceed 45 years total, estimated at $122M-$237M

Vendor

STACK SOCCER FIELD LLC

Agency

City of Lehi, UT

Contract Type

PROFESSIONAL_SERVICES

Document Date

June 9, 2026

Contract Term

Up to 25 years per parcel, not to exceed 45 years total; effective upon approval in June 2026

Renewal Date

2071-06-30

Renewal Info

Agreement term is per parcel, up to 25 years, capped at 45 years total; renewable by development phase, subject to statutory requirements, no auto-renewal.