Santaquin's redevelopment agency runs on land-sale money, including $250,000 for the library
Santaquin's Community Development and Renewal Agency reported $3,253,219 from asset sales in fiscal 2025, and its only revenue was interest. Its fiscal 2027 budget plans $400,000 more in property sales and a $250,000 transfer toward the city's new library wing.
Continuing story: Auditing Santaquin
The Community Development and Renewal Agency of Santaquin City has the same governing body as the city, and the city reports its fund within its own statements. [5]
In fiscal 2025, the agency's only revenue was $83,665 in interest. It also reported $3,253,219 from the sale of capital assets. It spent $1,506,332, and its fund balance rose by $1,830,552 to $2,550,525. [1]
The agency's budget shows its fiscal 2025 actual spending included $975,829 for West CDRA subdivision improvements and $489,320 for West CDRA offsite infrastructure. It lists the $3,253,219 as 'proceeds from property sales.' [2]
Fiscal 2026
The agency's revised fiscal 2026 budget expected $685,000 from property sales. The actual column through 75% of the year shows $659,530. [2]
That revised budget's listed expense lines add to $292,150, but its total is $1,392,150. The city's capital projects budget for the same year lists a $1,100,000 'transfer from CDA,' with nothing in the actual column through 75% of the year. [2][3]
The same city budget set $2,200,000 for the new City Hall library wing in fiscal 2026 and showed $1,066,275 spent through 75% of the year. [3]
Fiscal 2027
The agency's final fiscal 2027 budget assumes $1,866,593 in carryover equity and plans $400,000 in property-sale proceeds and $20,000 in interest. [2]
It plans $542,150 in spending: $250,000 for West CDRA subdivision improvements, a $250,000 transfer to the city for the library capital project, $20,000 to the city for administration, engineering and inspection, and $22,150 in smaller items. Projected ending equity is $1,744,443. [2]
The city's capital projects budget for fiscal 2027 includes $500,000 for the library wing and lists $250,000 from the agency as a funding source. [3]
On June 16, 2026, the city manager told the agency board its budget had not changed from the tentative version. The board adopted it 5-0. [4]
At the same meeting, he reported that the library project was on track for a late June to early July completion. [6]
Asset-sale proceeds are one-time receipts. The records reviewed do not identify the properties sold or the buyers. Budget figures for fiscal 2026 and 2027 are plans or partial-year actuals, not final results. The $250,000 transfer is a funding source for the library wing and is not in addition to its construction budget.
Sources
- Santaquin City · FY2025 combining statement, nonmajor governmental funds
- Community Development and Renewal Agency of Santaquin City · 2026-2027 final budget
- Santaquin City · FY2026-27 final budget, capital projects fund
- Santaquin CDRA Board · June 16, 2026 minutes
- Santaquin City · FY2025 notes to financial statements, reporting entity
- Santaquin City Council · June 16, 2026 minutes, staff reports
Reporting by The Utah Ledger from the public records above. AI-assisted, checked against those records.