Draper's redevelopment agency approves a reimbursement deal for a Crescent medical office building
On Sept. 1, 2026, the agency approved a participation agreement with Nexcore Healthcare Development LLC for a three-story, roughly 80,000-square-foot medical office building in the Crescent district. The staff memo says about 150 medical professionals are expected to work there.
Continuing story: Auditing Draper
Draper's Community Reinvestment Agency approved a participation agreement on Sept. 1, 2026, under which it would reimburse part of the cost of a new medical office building in the Crescent Redevelopment District, according to the agency's packet and meeting recap. [1][2]
The project
A Sept. 1 memo from City Manager Mike Barker describes the project as Lone Peak Medical Office Building IV, "a three (3)-story medical office building" of "approximately 80,000 square feet." It says the building is anticipated to employ "approximately 150 medical professionals." [1]
The memo says the agency will reimburse "a portion of the costs" and that Title 17C of the Utah Code authorizes the use of tax increment for such purposes within the district. It recommended approval of Resolution CRA 26-05. [1]
The resolution approves the agreement with Nexcore Healthcare Development LLC and says reimbursement is subject to the terms and conditions in the agreement attached as Exhibit A. [1]
The vote
The agency's Sept. 1 recap lists the minutes of the Aug. 18 meeting and Resolution CRA 26-05 and records: "Items were approved 4-0." The recap says it "does not constitute the meeting minutes" and that final minutes will be available once adopted by the board. [2]
The Crescent area
The agency's 2026 annual report lists the Crescent area's expiration year as FY2032. [3]
The agreement attached to the packet is reproduced as page images. The Ledger did not obtain a text copy and does not report its dollar terms here. The 150 jobs are the memo's expectation, not jobs created.
Sources
- Draper Community Reinvestment Agency · Sept. 1, 2026 agenda packet (Resolution CRA 26-05)
- Draper Community Reinvestment Agency · Sept. 1, 2026 meeting recap
- Draper Community Reinvestment Agency · Aug. 18, 2026 packet with the Annual CRA Report 2026
Reporting by The Utah Ledger from the public records above. AI-assisted, checked against those records.