Taylorsville's Bangerter urban renewal area: a $21.3 million cap through 2038 and milestones due

Taylorsville's redevelopment agency can collect up to $21,292,871 in tax increment from the 5400 South and Bangerter Highway urban renewal area through tax year 2038, under amended budget exhibits approved by the area's taxing entity committee on Jan. 16, 2026. The cap includes increment already received. ^[2]

In exchange, the exhibits list development milestones, the first due by the end of 2026, and require the agency to report on them every year by June 30, starting June 30, 2026. ^[2]

The request

In a Dec. 4, 2025 presentation to the taxing entity committee, the agency asked to extend the collection period from 2029 to 2038 and to reaffirm a tax increment cap of $22,010,037. The presentation describes the request as "Time only, no additional revenue" and lists a 25% pass-through to taxing entities. ^[1]

The agency's Resolution No. 26-01, in its March 18, 2026 meeting packet, says the committee approved the second amended project area budget on Jan. 16, 2026 through Resolution No. TEC 26-01. The resolution copy in the packet is unsigned. ^[2]

How the cap breaks down

The exhibits' baseline table divides the $21,292,871 into $2,226,903 in increment to date, $914,626 projected for 2025-2026, $1,374,048 from a COVID-19 extension for 2027-2028 and $16,777,294 from the second amendment for 2029-2038. ^[2]

On the spending side, the table allocates $1,064,644 (5%) to agency administration, $4,258,574 (20%) to a housing set-aside and $15,969,653 (75%) to eligible project expenditures. The project share is split into $8,261,000 for public infrastructure, $5,484,000 for property acquisition and $2,224,653 for project area improvements. ^[2]

Milestones

The performance exhibit asks the agency to finalize sewer engineering plans and bids by Jan. 29, 2027 and complete construction within 12 months of the notice to proceed. ^[2]

For multifamily housing on four listed parcels, it sets entitlements by Dec. 31, 2026, the start of construction by Dec. 31, 2027, a Phase I certificate of occupancy by April 27, 2029 and 90% completion of all phases by Aug. 30, 2030. ^[2]

If the purchase of state-owned property in the area is not complete by Dec. 31, 2028, the committee may reconvene to amend the budget. If development stalls, at least three of the committee's eight members may ask in writing for it to consider amending terms for increment not yet paid out. ^[2]

Collections and debt

For tax year 2025, the Salt Lake County Auditor lists $453,028 in current-year entitled tax increment for the 5400 South Bangerter Highway area. ^[3]

The city's audited fiscal 2025 report lists $1,310,000 outstanding at June 30, 2025 on 2019 tax increment and sales tax revenue refunding bonds, issued to buy land for economic development in the Bangerter Highway area. They are repaid from agency tax increment, backed by General Fund sales tax, with a final payment due in November 2031. ^[4]

The records reviewed do not include the June 30, 2026 milestone report.