Salt Lake City

City Council

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Project Details Questions

What is included in the project?

The agreement currently before the Board is the first phase of development on land owned by NWQ LLC. It includes 375 of the approximately 1500 total developable acres owned by NWQ LLC. The remaining 1500 acres of developable acreage is owned by Kennecott and governed by a separate development agreement.

What is the property owner planning to build and what is requested of the City?

Phase one encompasses 6 million square feet of commercial and 10 buildings. The property owner is installing $310 million worth of infrastructure and site improvements, $80 million which qualifies as reimbursable by policy. They are requesting up to $28 million in reimbursement, to be paid using tax dollars generated by this specific property. If the tax revenue is not generated by this specific property, the developer will not be entitled to reimbursement for the improvements they will have made. Of the improvements made by the developer, $9-13 million will be dedicated back to Salt Lake City.

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