Thanksgiving Point Housing Transit Reinvestment Zone
The state approved the Thanksgiving Point Housing and Transit Reinvestment Zone in November 2023, allowing property tax growth in the zone to help pay for mixed-use development near transit. A Lehi City Council agenda for Oct. 21, 2026 listed Resolution 2026-63, an interlocal agreement letting the Redevelopment Agency receive 80 percent of that increment, up to $122,144,769, over up to 45 years. The result of that item is not yet reported.
In review
- Type
- Development agreement
- Location
- Thanksgiving Point area
- Applicant
- Thanksgiving Station Development Partners, LLC
- City Council: Interlocal agreement with the Redevelopment Agency for the Thanksgiving Point Housing and Tra…
- City Council: Thanksgiving Point Housing Transit Reinvestment Zone interlocal agreement
- City Council: Thanksgiving Point Housing Transit Reinvestment Zone interlocal agreement (Resolution 2026-43)
- City Council: Thanksgiving Point HTRZ interlocal agreement (Resolution 2026-43)
- City Council: Thanksgiving Point HTRZ interlocal agreement (Resolution 2026-29)
In brief
Thanksgiving Point Housing Transit Reinvestment Zone appears on 18 recorded agendas, from the City Council meeting of April 12, 2022 to the City Council meeting of October 21, 2026.
On record, it was approved once and continued once.
The most recent decision was continued at the City Council meeting of May 12, 2026.
The most recent agenda collected for it, the City Council meeting of October 21, 2026, listed it with no result recorded.
Follow the money and project delivery
Thanksgiving Point Housing Transit Reinvestment Zone
- Council action
In review according to the dated project source. Record → · Oct. 21, 2026
- Money in the record
incentive-cap: $122.1 million — Proposed ceiling on the property tax increment the agency could receive from the zone (80% of increment, 25 years per parcel, 45-year cap); a limit in a proposed agreement, not money paid Record → · Oct. 21, 2026
- Signed agreement and payments
Execution and project-level disbursements are not verified by this tracker. They require separate records; meeting approval alone does not establish either.
- Work and operating costs
Check the linked records for completion and recurring operating costs; this tracker does not verify them. Record →
Every hearing and vote
October 21, 2026 · City Council
Interlocal agreement with the Redevelopment Agency for the Thanksgiving Point Housing and Transit Reinvestment Zone
Pending
Resolution 2026-63 would approve an agreement between Lehi City and the Lehi City Redevelopment Agency (RDA) for the Thanksgiving Point Housing and Transit Reinvestment Zone, which the state's Housing and Transit Reinvestment Zone Committee approved Nov. 13, 2023. The city would consent to the agency receiving 80 percent of the property tax increment the zone generates, up to $122,144,769. Collection for each parcel would run 25 full calendar years from a trigger year, could not begin until a temporary certificate of occupancy is issued for a building on that parcel, and no parcel could be triggered more than once. The total collection period is capped at 45 years. The agency could use the money to reimburse developer costs allowed by state law and to cover its own administrative and legal expenses, and could sign a participation agreement with Thanksgiving Station Development Partners, LLC. The resolution says the agreement matches the state approval, obligates only increment actually collected and distributed by the county, and does not pledge the city's General Fund. It takes effect 30 days after the required public notice is first published. Mayor Paul Binns signs for the city and as chair of the RDA.
- Resolution: 2026-63
- City share to agency: 80% of tax increment
- Maximum: $122,144,769
- Per-parcel period: 25 years; total period: 45 years
- Expected developer: Thanksgiving Station Development Partners, LLC
- State approval of zone: Nov. 13, 2023
October 13, 2026 · City Council
Thanksgiving Point Housing Transit Reinvestment Zone interlocal agreement
Pending
Interlocal agreement between the RDA and city on the Thanksgiving Point Housing TRZ.
July 14, 2026 · City Council
Thanksgiving Point Housing Transit Reinvestment Zone interlocal agreement (Resolution 2026-43)
Pending
After a Redevelopment Agency meeting, the council considered an interlocal agreement between the RDA and the city on the Thanksgiving Point Housing Transit Reinvestment Zone. No staff report was in the packet; a similar agreement returned on the Oct. 13 agenda.
June 9, 2026 · City Council
Thanksgiving Point HTRZ interlocal agreement (Resolution 2026-43)
Pending
Resolution 2026-43 would approve an interlocal agreement between the Redevelopment Agency and the city on the Thanksgiving Point zone.
May 12, 2026 · City Council
Thanksgiving Point HTRZ interlocal agreement (Resolution 2026-29)
Continued
Postponed to May 26 on the agenda.
April 14, 2026 · City Council
Thanksgiving Point HTRZ interlocal agreement (Resolution 2026-29)
Pending
Resolution 2026-29 would approve an interlocal agreement between the Lehi Redevelopment Agency and the city on the Thanksgiving Point Housing Transit Reinvestment Zone.
March 24, 2026 · City Council
Thanksgiving Point participation agreements (pre-council)
Discussed
Pre-council discussion covered an HTRZ participation agreement between the Lehi Redevelopment Agency and Thanksgiving Station Development Partners, LLC, a second with STACK Soccer Field, LLC, and an interlocal agreement with the city.
February 9, 2026 · City Council work session
Thanksgiving Point development agreement and participation agreement
Pending
Presentation and discussion listed on the agenda.
December 16, 2025 · City Council
New U.S. Treasury regulations on bond hearings
Discussed
Finance Director Dean Lundell said new Treasury regulations require a public comment period to meet IRS requirements for the Thanksgiving Point bond. It need not be a council meeting, only a call-in line; an electronic hearing was set for Dec. 19.
December 2, 2025 · City Council
Public hearing on Series 2025B bonds
No action
The council held a hearing on issuing the Series 2025B bonds and their potential economic effect on the private sector. Laura Stevens and Cody Black each spoke against issuing the bonds. No vote was taken on the issuance at this meeting.
July 22, 2025 · City Council
Thanksgiving Point economic and fiscal impact study
Discussed
Thanksgiving Point CEO McKay Christensen and consultant Jason Burningham presented a study projecting $8.3 billion in economic impact over 25 years and $403.2 million in fiscal impact, of which Lehi would receive about $53.8 million, or about $2.2 million a year, mostly sales tax. They said Lehi residents made over 300,000 visits last year and PARC days cost $5 instead of $24. Mayor Johnson said an in-house estimate had been about $600,000 a year. The study is by the organization that receives PARC tax funds.
October 25, 2022 · City Council
Thanksgiving Point Housing and Transit Reinvestment Zone designation (Resolution 2022-93)
Approved · 5-0
Economic Development Director Marlin Eldred said the resolution only starts the process of analysis. The council designated the proposed zone and authorized staff and counsel to prepare a proposal.
October 11, 2022 · City Council
Thanksgiving Point area plan amendment update (pre-council)
Discussed
John Bankhead said trigger points for the area plan have been identified and will be in the traffic report. Members discussed the land use table, with suggestions to add adult day care and assisted living. He said power limits will need to be addressed and that the power-based density cap (estimated at 800 units) will likely be lower than the traffic-based cap; the office cap will be based on acreage. He said impact fees should cover most improvements, the State would fund larger ones such as a Clubhouse Drive extension, and the city is also exploring a Housing and Transit Reinvestment Zone.
July 26, 2022 · City Council
Thanksgiving Point transit-oriented development update
Discussed
Jonathan Bankhead said the project is working through a development code amendment and plans to submit smaller sections of the area plan so approvals can proceed on a smaller scale.
July 12, 2022 · City Council
UTA station area plan for the Thanksgiving Point FrontRunner station
Discussed
Planning Director Kim Struthers said UTA is studying its 11-acre parcel at the station, as the council asked when it approved the transit-oriented development concept plan, and is working closely with the developer. The study is in its community engagement phase, with an open house planned and a goal of finishing by mid-September. Mike West explained the housing and transit reinvestment zone requirements, said demand is high for apartments with some retail, and showed possible design and land use options aimed at creating a sense of place.
June 14, 2022 · City Council
Thanksgiving Point HTRZ funding discussion
No action
The item was postponed again to a future meeting.
May 24, 2022 · City Council
Thanksgiving Point HTRZ funding discussion
No action
The item was postponed to a future meeting.
April 12, 2022 · City Council
Thanksgiving Point housing and transit reinvestment zone funding briefing
Discussed
Marlin Eldred presented on the Thanksgiving Point preliminary plan and the process and expenses involved. A housing and transit reinvestment zone (HTRZ) is a funding tool created by the Legislature for development near FrontRunner or TRAX stations. The presentation focused on planning ahead for infrastructure maintenance costs.