University Place community development agreement extension
Woodbury Corporation asked the Orem Redevelopment Agency to add two years to the recoupment term of its community development agreement under a pandemic-related state law.
Proposed
- Type
- Development agreement
- Location
- University Place
- Applicant
- Woodbury Corporation
In brief
University Place community development agreement extension appears on one recorded agenda: the City Council meeting of March 9, 2021.
Follow the money and project delivery
University Place community development agreement extension
- Council action
No approval or denial linked in the records collected.
- Money in the record
No itemized amount linked in the records collected.
- 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
March 9, 2021 · City Council
Work session: University Place community development agreement extension
Discussed
The City Manager said state legislation (SB6001) lets organizations with community development agreements extend the recoupment term because of the pandemic. In December the city received a request from Woodbury Corporation to amend its agreement and the agency budget to add two years. The next step would be a resolution by the Redevelopment Agency board. Members discussed the investment to date, expected returns and how the pandemic affected income and tenants.
- Applicant: Woodbury Corporation
- Request: two additional years of recoupment