Auditing Midvale
The Ledger's review of Midvale's budgets, audits, debt and redevelopment money. Every story in the series, sorted by subject, with the figures the records show and links to the official documents.
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Auditing Midvale: What the city's budget, audit and debt records show
Auditing Midvale follows the city's money through its own budgets, audits and redevelopment records. Midvale adopted a $24,179,095 General Fund budget for fiscal 2027. At June 30, 2025, the city reported $69,274,119 in long-term obligations and no general obligation bonds.
Read the explainer →Key figures
- $24,179,095Fiscal 2027 General Fund budget, adopted Aug. 11, 2026Auditing Midvale: What the city's budget, audit and debt records show →
- $69,274,119Long-term obligations at June 30, 2025 (audited)Auditing Midvale: What the city's budget, audit and debt records show →
- $8,451,073Unassigned General Fund balance, June 30, 2025Auditing Midvale: What the city's budget, audit and debt records show →
- $53.3 millionJordan Bluffs reimbursement cap approved June 2025, plus accrued interest (a ceiling, not a payment)Midvale redevelopment board raised Jordan Bluffs reimbursement cap to $53.3 million plus interest →
- $78,814Projected added annual revenue from the public safety tax adopted Aug. 11, 2026Midvale adopted a public safety tax increase projected at $78,814, below the $848,964 it first noticed →
- $1.29 millionCap on the Zions Bank loan placed ahead of the agency's lienSplit Midvale redevelopment board puts its $250,000 Main Street loan behind a bank's →
- $250,000Proposed zero-interest RDA loan to The Vale (term sheet)Proposed $250,000 zero-interest Midvale loan would release half before construction milestones →
Redevelopment money
Split Midvale redevelopment board puts its $250,000 Main Street loan behind a bank's
The Redevelopment Agency of Midvale City voted 3-2 on Sept. 1, 2026 to subordinate its first-lien deed of trust on a $250,000 adaptive reuse loan to a Zions Bank loan of up to $1.29 million, according to minutes in the board's Sept. 15 packet.
Midvale redevelopment board raised Jordan Bluffs reimbursement cap to $53.3 million plus interest
In June 2025 the Redevelopment Agency of Midvale City unanimously approved a second amendment to the Jordan Bluffs tax increment reimbursement agreement. It raises the developer's reimbursement cap from $40,915,480 to $53,300,000, plus accrued interest, and sets conditions tied to development value and a parcel for the city's Public Works facility.
Budgets, reserves and taxes
Midvale adopted a public safety tax increase projected at $78,814, below the $848,964 it first noticed
The Midvale City Council in August 2026 unanimously set a public safety property tax rate of 0.000266, projected to raise $78,814 more a year. In May, the council's packet had described an increase to an estimated 0.000474 that would have raised $848,964.
Subsidies
Proposed $250,000 zero-interest Midvale loan would release half before construction milestones
A term sheet before the Redevelopment Agency of Midvale City on Sept. 15, 2026 proposes a $250,000, seven-year, 0% loan to Post Exchange, LLC, doing business as The Vale. Half would be paid at signing, and the schedule says disbursements are not tied to construction or tenant improvement milestones.
Contracts and spending
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