RDA meeting minutes and agendas, June 3, 2003 to present (click here)

RDA meeting minutes prior to June 3, 2003 (click here)

The Redevelopment Agency of Centerville City (RDA) is a separate legal entity created in 1989 to assist with the commercial and economic development of the City. However, the City Council serves as the Board of the RDA and the Mayor is the Chairperson. Specifically, a project area called the "Parrish Lane Gateway Project Area" was created. This project area, by State law, will exist for 32 years or through 2021. The RDA can use "tax increment" generated by properties within the project area to build infrastructure, purchase land, or assist in other ways to assist with the development of the properties within the project area.

Tax Increment works like this:

Base Year Property Value, 1989 - $100,000 x Tax rate = $1,000.

Because of added value through infrastructure and development, the value of the property increases:

Tax Increment Year Value, 2002 - $500,000x Tax rate = $5,000.

The RDA then can receive the difference, $4,000, to assist with development in the project area.

For example, Target is within the Parrish Lane Gateway Project Area. When Target came to the City, 400 West was a planned street, but did not connect from Parrish Lane to Porter Lane. Also the frontage road was a through street that crossed Parrish Lane, and was very dangerous. Target needed to construct 400 West and create a new street, Marketplace Drive with curb gutter and sidewalk. They also constructed the Islands in Parrish Lane and assisted with the traffic signals at Parrish Lane and MarketPlace Drive and 400 West. They installed the landscaping and drainage for the project, prior to construction of the buildings. In all Target invested nearly $8,000,000 in offsite improvements to the area. The RDA agreed to pay a portion of the tax increment from the MarketPlace development back to Target over 11 years to offset some of this cost. The RDA also has an agreement with MTC to offset a portion of the development costs of the Centerville Corporate Park.

If you would like additional information about the RDA contact Blaine Lutz at 801-295-3477 or blainel@centervilleut.com.                                                   

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