tag:blogger.com,1999:blog-8806820697247097901.post1534057633416616722..comments2023-07-04T00:24:37.915-06:00Comments on Wendy Hart: ASD School Board: "Well, At least, you're consistent!": University Place CDA, Your tax dollars at workUnknownnoreply@blogger.comBlogger2125tag:blogger.com,1999:blog-8806820697247097901.post-42775270645210695762014-10-19T14:18:18.750-06:002014-10-19T14:18:18.750-06:00There are many Orem citizen's who agree with W...There are many Orem citizen's who agree with Wendy's stance regarding the government staying out of the way of the natural course of free enterprise, and that is why there is an army of petitioner's in Orem seeking signatures for a referendum on the University Place CDA. When the Alpine School District Board met with the Orem City Council members and discussed the possibility of the Alpine School District participating in the University Place CDA, the Mayor of Orem stated that the University Project would take ten years longer without the involvement of the School District. Before the City of Orem adopted the University Place CDA, there was $24 million being built in high density residential housing on the Mall property. Also, the old Nordstrom's building was already receiving a $6 million make-over, in order to house R C Willey as an Anchor Store. When the City of Orem adopted the University Place CDA it froze the property tax for the area at the 2013 property tax level for twenty years. Those Taxing Entities participating with the anticipated Tax Increment of 75% in the University Place CDA Plan will only receive 25% of the $30 million increase in the Mall property value that would be generated by the current construction taking place. Orem and the surrounding City's, such as Vineyard, are currently getting swamped with high density housing projects that will need to be filled with people, and because of this fact slowing down the University Place Project construction by not participating in the CDA with Tax Increment Financing would probably benefit the entire Utah County community, including Orem, from an overbuild of high density units. It appears that it is a win-win for the Alpine School District to not get involved in the University Place CDA Tax Increment Financing. Anonymoushttps://www.blogger.com/profile/03681230274445840051noreply@blogger.comtag:blogger.com,1999:blog-8806820697247097901.post-48880559721783294582014-09-19T00:21:41.312-06:002014-09-19T00:21:41.312-06:00Excellent as usual Wendy. Excellent as usual Wendy. Rod Mannhttps://www.blogger.com/profile/10241182790476070316noreply@blogger.com