Eagle Mountain's agency approved the Sweetwater #4 data-center agreement in December 2025 and amended the plan in January

Eagle Mountain's Redevelopment Agency board approved a participation agreement with Stadion LLC for the Sweetwater #4 project area on Dec. 16, 2025, and amended the area's plan and budget on Jan. 6, 2026, according to the agency's minutes and packets. ^[1][2]

Our Oct. 15 story reported the hearing notice for the January amendments. These records show the votes that followed and the terms in the agreement's packet version. ^[1][2][3][4]

The votes

The Dec. 16, 2025 minutes record a unanimous vote on the participation agreement, moved by Donna Burnham and seconded by Brett Wright, with Burnham, Melissa Clark, Jared Gray, Rich Wood and Wright voting yes. The minutes say the agreement reimburses Stadion with a negotiated share of tax increment, contingent on its building data-center facilities. ^[2]

On Jan. 6, 2026 the board approved the December minutes 3-0, with Craig Whiting abstaining. It then held public hearings on amending the Sweetwater #4 plan and budget. No one spoke at either hearing, and each amendment passed 4-0, with Clark, Whiting, Wood and Wright voting yes. ^[1]

Staff told the board that participation rates had been adjusted while the interlocal agreements were completed, changing the anticipated increment for the school and water districts, and that the amendments bring the plan and budget into line with those agreements. ^[1]

Estimated effect of the amendments

The January staff reports say the adjustment retains an additional $13,015,924 in tax increment for the school district and $491,832 for Central Utah Water Conservancy District. ^[2]

The amended budget lists $778,540,678 in increment over the life of the area: $493,641,645 from Alpine School District, $144,784,376 from the Unified Fire Service Area, $78,359,059 from Utah County, $46,857,489 from Eagle Mountain City and $14,898,109 from the water district. ^[2]

The budget lists the school district's and water district's personal property participation at 63% for the first five years. The water district's participation ends after 20 years. ^[2]

Two figures that differ

The amended budget's table of uses lists $688,808,500 for redevelopment activities, $77,854,068 for the housing requirement, $200,000 for Eagle Mountain administration and $11,678,110 for a line labeled "County Project Area Administration – Returned to Meta." Those four amounts add to $778,540,678, but the table prints a total of $780,215,776, a difference of $1,675,098. ^[2]

The budget says its net present values assume a 4.75% discount rate. The December hearing notice labels the same net present value figures, $337,896,026 in total, as calculated at 4.00%. ^[2][4]

Separately, a city resolution dated Nov. 5, 2025 approving the city's interlocal agreement says increment from the city's levy paid to the agency shall not exceed $7,773,762 per phase and $46,642,572 for all phases. The agency's Nov. 5 staff report lists $46,642,572 as the fiscal impact. The amended budget's $46,857,489 for the city is $214,917 more. The records reviewed do not explain the difference. ^[5][6][2]

Terms in the agreement's packet version

The agreement in the Dec. 16 packet is unsigned, with its effective date left blank. The Ledger has not obtained the executed agreement or its exhibits. ^[3]

In that version, Stadion has the right but no obligation to develop, and may set the timing of development. Each phase must include at least one building, and its trigger date is a temporary certificate of occupancy for a building in the phase. The agency receives increment for 20 full calendar years from each phase's trigger year. ^[3]

Payment for a phase depends on a temporary certificate of occupancy for one building and on the agency having actually received the phase's increment. Payment is due within 30 calendar days of receipt. The agency may hold a reserve for expenses of up to $5,000 at any one time. ^[3]

The packet version also provides for payments of up to $50,000 per phase per year in lieu of taxes where increment is attributable to the school district, a $1,500,000 donation to the school district's education foundation and $10,000 to each of two successor districts' foundations. The donations are due by Dec. 31 of the year vertical construction begins. ^[3]

The staff report says the agency owes nothing beyond increment it actually receives and that Stadion finances all construction. It lists the fiscal impact as "Varies, dependent on Data Center construction." ^[3]