Eagle Mountain Redevelopment Agency Board, 16 March 2021

Board Member Burnham moved to approve the June 16, 2020 minutes. Boørd Member Gray seconded the motion. Those votíng øye: Jared Grøy, Carolyn Love, Colby Curtß, Melissa Clørk, and Donna Burnhøm. The motíon passed with ø unønimous vote. 3. RESOI,UTION 3.4. RESOLUTION -- A Resolution of the Redevelopment Agency of Eagle Mountain City, Utah, Appointing and Electing Officers to Serve in the Redevelopment Agency of Eagle Mountain City. City Recorder Fionnuala Kofoed explained that at the beginning of each calendar year, the board appoints a Chair and Vice-Chair. Generally, the City Council Mayor Pro Tempore is appointed as the Vice-Chair; however, any Board Member may serve as Vice-Chair. The Mayor is appointed Chair by default, and the action requires a motion of approval. Redevelopment Agency of Eagle Mountain City Board Meeting - March 16,2021 Page I of4 Board Member Gray said he did not object to appointing the Mayor and Mayor Pro Tempore as Chair and Vice-Chair. He asked if the City had a requirement for the positions to be filled by specific members of the board. Ms. Kofoed explained that the Mayor is appointed Chair for economic development purposes to allow the Mayor to speak on behalf of the City. She later confirmed RDA R-02-2008 established the Mayor to serve as Board Chair. The Board has the ability to amend the bylaws if desired. Board Member Burnham noted the Board has previously appointed the liaison to the Economic Development Board as Vice-Chair rather than the Mayor Pro Tempore. Board Member Curtis stated that it would be appropriate to appoint the Economic Development Board liaison as Vice-Chair, but he would also support the appointment ofthe Mayor Pro Tempore.

Boørd Member Grøy moved to appoínt Tom Westmoreland to serve øs Chøir of the Redevelopment Agency of Eagle Mountøin City. Boørd Member Burnham seconded the motìon. Those voting aye: Jared Gray, Carolyn Love, Colby Curtß, Melissø Clark, and Donna Burnhøm. The motion passed wíth ø unanimous vote.

Board Member Curtß moved to øppoint Carolyn Love to serve øs Vice-Chair of the Redevelopment Agency of Eagle Mountaín Cìty. Board Member Burnhøm seconded the motion. Those votíng aye: Jared Gray, Cørolyn Love, Colby Curtß, Melissa Clørk, ønd Donna Burnham- The motíon pøssed with a unanimous vote. 4. SV/EETWATER INDUSTRIAL PARK 4.A" RESOLUTION/PUBLIC HEARING - A Resolution of the Redevelopment Agency of Eagle Mountain City, Utah, Adopting an Offìcial Project Area Plan for the Sweetwater Industrial Park Community Reinvestment Area#2. Executive Director Aaron Sanborn presented the purpose and function of the Redevelopment Agency Board (RDA) and the Community Reinvestment Area (CRA) process. Title l7C of State Code regulates the operation of RDAs which operate CRAs. The first step is identification by RDA staff of an area in the City with CRA potential. CRAs can be implemented to redevelop areas or to encourage new development. The RDA adopts a Survey Resolution to begin the process. During the next step, RDA staff work with outside consultants to determine feasibility, necessary studies are performed, the project area plan and project area budget are drafted, and the discussions begin with the taxing entities. The RDA then provides notice to taxing entities and the public of public hearings for the project area plan and project area budget. The RDA board holds a public hearing and adopts, revises, or rejects the project area plan and project area budget and notices the adoption ofthe plan and budget. Finally, RDA staff prepares interlocal agreements with the taxing entities, prepares a participation agreement with the project participants, and notices the interlocal agreement adoption by the taxing entities. The RDA Board and taxing entities then adopt interlocal and participation agreements. Sweetwater Industrial Park Community Reinvestment Area#2 Project Timeline: . April2I,2020 o RDA Board approves Survey Area Resolution o February I2,202I o Notice of public hearing given to taxing entities and landowner o February 16,2021 o Notice of public hearing given to general public o March 16,202I o RDA holds a public hearing on the project area plan and project area budget o RDA considers adoption of the project area plan and project area budget o City Council considers approval of project area plan and interlocal agreement o April212l o Interlocal agreement approval by Utah County o Interlocal agreement approval by Alpine School District o Interlocal agreement approval by Unified Fire Service Area o Interlocal agreement approval by Central Utah V/ater Conservancy District o Interlocal agreement approval by RDA o Development agreement approval by City Council o May 2021 o Participation agreement approval by RDA Kate V/errett with Lewis, Young, Robertson, and Burningham presented and further explained the history, pu{pose, and function of the RDA and CRA, tax increment financing, the process of CRA project creation, reasons for the CRA project area, and the development assumptions and tax base and tax increments for the project. She explained that the project will not cause a property tax increase for other properties. Laura Lewis with Lewis, Young, Robertson, and Burningham explained Utah property tax laws for existing developments in comparison to new growth. Board Chair Westmoreland opened the public hearing at 7:31 p.m. No comments were submitted to the City Recorder's Office ond no public was in øttendance to make comment. As there were no comments, Board Chair I4/estmoreland closed the hearing. Mr. Sanbom explained the project area will be developed in phases with an agreement term of 20 years for each new phase with a timeframe cap of 40 years total for the project.

Boørd Member Burnhøm moved to øpprove u resolutíon of the Redevelopment Agency of Eøgle Mountaìn C¡ty, Utøh, adopting an Officíal Project Area Pløn for the Sweetwuter Industriøl Pørk Communíty Reínvestment Areø #2. Board Member Grøy seconded the motíon. Those votíng øye: Jøred Gray, Cørolyn Love, Colby Curtß, Melissø Clark, and Donna Burnham The motion passed wíth ø unanimous vote. 4.8. R.ESOLUTION/PLJBLIC HEARING -- A Resolution of the Redevelopment Agency of'Eagle Mountain City, [Jtah, Adopting an Official Project Area Budget for the Sweetwater Industrial Park Community Reinvestment Area #2. Mr. Sanborn explained that after further negotiations, the real property tax portion of the budget has been reduced fromT5Yoto 67.5Yo percent. Board Member Curtis stated for clarity for the residents that the RDA has determined to enter into an agreement for a company to develop a data center in the City. Board Chair Westmoreland noted the agreement will also come before the City Council for approval. Boqrd Chair [4lestmoreland opened the public hearing at 7:36 p.m. No comments were submitted to the City Recorder's Office and no public was in attendance to make comment. As there were no comments, Board Chair Westmoreland closed the hearing.

Board Member Burnham moved to øpprove a resolution of the Redevelopment Agency of Eøgle Mountaín C¡ty, Utah, adopting an Official Project Areø Budget for the Sweetwøter Industrial Park Communìty Reinvestment Areø #2, using the amended 67.5% reøl property tax value. Board Member Gray seconded the motion. Those voting aye: Jared Gray, Cørolyn Love, Colby Curtís, Melissø Clørk, and Donnø Burnhøm. The motion passed with ø unønimous vote. 5. ADJOURNMENT

Board Member Gray moved to ødjourn the meetíng øt 7:38 p.m. Board Member Love seconded the motion. Those votíng aye: Jøred Gray, Cørolyn Love, Colby Curtis, Melissø Clørk, ønd Donna Burnhøm. The motion pøssed wìth a unønimous vote.