Special Monday Report
Granite's Good Deal January 21st 2008

Granite's Good Deal

Public Forum Letter - Salt Lake Tribune - 01/21/2008

There is a great deal of misunderstanding regarding the Granite Board of Education's support of the Cottonwood Mall redevelopment. Those who believe the district will be giving tax dollars to a developer are grossly misled.

The developers of the mall property will continue to pay their property taxes and the district will continue to receive tax revenue from the property. The district will continue to receive its property taxes at the present value, plus 25 percent of the additional tax revenue generated by the development. The annual amount the district currently receives from the mall property is $171,559. The additional 25 percent is estimated to average $881,349 annually, making the annual total average over the next 20 years $1,052,909 - more than a 500 percent increase.

However, 75 percent of the new tax dollars generated will go to the Holladay Redevelopment Agency for infrastructure. This is the $52 million opponents have been talking about. Granite has entered into a partnership with Holladay that will increase both its short- and long-term tax revenue.

Gayleen Gandy

Member, Granite Board of Education

West Valley City


Redevelopment & Economic Development

  • Bonneville Research has recently been involved with preparing the "Blight Studies, Benefit Analysis, and Budgets" for the
    • Holladay Cottonwood Project
    • South Salt Lake Maket Station Project
    • Taylorsville 5400 West and Bangerter Project
    • West Valley City North Central EDA Project
  • We have all heard a lot of pros and cons about these projects and especially the Cottonwood Project in Holladay.
  • The Utah Taxpayers Association has lobbied hard against them
  • Some well intended buy uninformed residents have expressed concerns.
  • In today's Salt Lake Tribune, Gayleen Gandy, a member of the Granite Board of Education and Taxing Entity Committee Member writes about "Granite's Good Deal".

Thanks Gayleen!

Bob Springmeyer

Bonneville Research

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