Provo Corridor Preservation Request 820 North Provo vo Corridor - PowerPoint PPT Presentation

Provo Corridor Preservation Request 820 North

Provo vo Corridor Preserv ervati ation n Request uest 820 0 N Frequently Asked Questions Q - Where does the money come from? A - Annual $10 vehicle registration fee Q - Can CP funds be used to build things? A - No. CP is for early purchase of property in order to save on impacts, reduce hardships, and lessen cost of future projects Q - Do city projects have to repay the fund? A - No. Statute allows set up of a revolving loan fund, but past leaders chose not to

Provo vo Corridor Preserv ervati ation n Request uest 820 0 N Background: • Eligible Corridor: #19, Provo 820 N • Location: 999 W 820 N, Provo

Provo vo Corridor Preserv ervati ation n Request uest 820 0 N 500 W I-15

Provo vo Corridor Preserv ervati ation n Request uest 820 0 N Property Details: • Size: 0.19 acres • Status: Willing Seller • Appraised Value: $296,500 • Est. Acquisition Costs: $10,000 • Total Request: $306,500 4 th CP Purchase on Corridor • • TAC Recommends Approval • Fund Balance: $7,166,645

Provo vo Corridor Preserv ervati ation n Request uest 820 0 N Suggested Motion: “I move that the Regional Planning Committee authorize this request as presented, with authorization to expire after one year if the property has not been purchased.”

Provo vo Corridor Preserv ervati ation n Request uest 820 0 N Contact Info: Jim Price 801-229-3848 jprice@mountainland.org

Provo Corridor Preservation Request 2230 North

Provo vo Corridor Preserv ervati ation n Request uest 2230 30 N Background: • Eligible Corridor: #53, Provo 2230 N • Location: 244 E 2200 N, Provo

Provo vo Corridor Preserv ervati ation n Request uest 2230 30 N

Provo vo Corridor Preserv ervati ation n Request uest 2230 30 N Property Details: • Size: 0.23 acres • Status: Willing Seller • Appraised Value: $332,000 • Est. Acquisition Costs: $10,000 • Total Request: $342,000 • TAC Recommends Approval • Current Fund Balance: $ 7,166,645

Provo vo Corridor Preserv ervati ation n Request uest 2230 30 N Suggested Motion: “I move that the Regional Planning Committee authorize this request as presented, with authorization to expire after one year if the property has not been purchased.”

Provo vo Corridor Preserv ervati ation n Request uest 2230 30 N Contact Info: Jim Price 801-229-3848 jprice@mountainland.org

Payson yson Corridor Preserv ervati ation n Request uest • On September 5, 2019, the Regional Planning Committee approved the attached Payson City/UDOT request for $453,000 from the Corridor Preservation Fund. • UDOT has recently received an infusion of $7 million into its Corridor Preservation Fund and no longer requires funds from Utah County for this important purchase. • This request arrived after the most recent TAC meeting and TAC was not consulted. • Staff recommends that UDOT purchase this property with its funds, but that the original approval stand for the time being. No action is needed by the committee at this time.