Mayor Paul Binns and the five City Council members all responded to the Lehi Free Press, which found incomplete or dated entries but no indication of wrongdoing.
· From Lehi Free Press
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The authority that financed Lehi's new City Hall and library paid more principal and interest than its budget allowed in fiscal 2025. Its construction spending was $12.3 million below budget, and its original and final budgets were identical.
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A 2025 agreement splits a $858,687 local match equally between American Fork and Lehi, with Utah County reimbursing up to $11.8 million. A trail and a developer agreement on 620 South have their own funding.
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The $9 million in bonds were repaid only from 87.5% of the Cabela's store's sales tax. When they matured in September 2024, bondholders forgave the remaining balance, as the bond terms required.
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The city sold $53.9 million in bonds in 2021 and $16.3 million in 2025 to build citywide fiber, pledging its energy sales tax. The fiber fund ended fiscal 2025 with a $3.4 million deficit.
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Three noninterest notes, payable only from tax increment, cover the Adobe campus, the Outlets at Traverse Mountain and the West Timpanogos office park. Lehi paid down $1.56 million in fiscal 2025.
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In January 2023 Lehi's redevelopment agency extended the Micron-era incentive for 30 years. Its plan projected $451 million to Texas Instruments; fiscal 2025 payments to TI were $4.84 million.
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The Nov. 18, 2025 vote authorized sales tax revenue bonds for a nonprofit's building; S&P rated an anticipated $27.42 million issue, and the city issued $27.25 million in December 2025. The lone no vote cited constitutional limits on lending public credit.
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Lehi's redevelopment agency created two retail project areas in 2025 that run on future sales tax rather than property tax. Both passed over one board member's objection; neither budget says how much of its cap would reach the developer.
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A state committee approved a housing and transit reinvestment zone by Lehi's FrontRunner station in 2023. Agreements that refer to up to 80% of the zone's new property tax, capped at $122,144,769, were on redevelopment agency agendas in July and again on Oct. 13, 2026.
