Ardero development and public improvement district
Large mostly single-family development extending toward Utah Lake. Developer Shaun Johnson proposed a public improvement district borrowing about $7 million against a property levy to build master-plan roads; the council discussed an MOU in January 2020 and approved a connector's (pioneering) agreement June 30, 2020.
- Where it stands
- Approved
- Type
- Development agreement
- Location
- South of I-15: 700 West, 900 West, 1000 South and Lakeshore Drive
- Applicant
- Ardero (Shaun Johnson)
Every hearing and vote
January 21, 2020 · City Council work session
Public improvement district memorandum of understanding with Ardero
Discussed
Bunker explained that a PID becomes a separate local district governed by the property owners, with debt repaid by a levy on property in the district. The proposal covered 700 West, 900 West, 1000 South and Lakeshore Drive; staff recommended leaving out 1000 South because it is not a master-plan road, while Ardero asked that 1000 South be reimbursed and that 900 West be reimbursed at 50% before upsizing. Developer Shaun Johnson said statute would allow a $25 million PID but he planned about $7 million, adding under $50 a month in tax per home, and that lenders D.A. Davidson and Wells Fargo were involved; no PID yet existed in Utah. Carroll objected that the burden would fall on the development's residents alone; Shelton said infrastructure bonds repaid by impact fees could top $50 million and asked for an overall plan. Ardero sought only an MOU for now.
June 30, 2020 · City Council
Connector's (pioneering) agreement for Ardero
Approved · 5-0
Standard agreement letting the Ardero developer recover part of its infrastructure costs from later developments that benefit.