The elected officials who collaborated on it said the capital city is getting some big wins in exchange.
Under HB443, the port and city instead would enter into a contract. The city would turn over 65% of the property tax revenue coming from the port, a figure that would shrink over time. The port would be required to invest significant chunks of that money back into environmental cleanup, traffic mitigation and attracting high-paying jobs.
“While I’m so thankful for the resources flowing our way,” the council member said, “the vote was taken away. It feels to me like a historic disenfranchisement.”Beyond changing the board, HB443 charges the inland port authority with additional responsibilities, including “aggressively” pursuing “world-class” businesses and pursuing “land remediation and development opportunities” for public lands.
The port would also have to work with Salt Lake City and other municipalities in creating “minimum mitigation and environmental standards” in order to use property tax funding. “I’m enthusiastic that this legislation helps us achieve the greenest and cleanest inland port possible,” Mendenhall said Monday, “and provides a path toward putting city taxpayer money to use right back in our west-side communities adjacent to this development, where it belongs.”
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