A public hearing regarding amendments to the interlocal agreements for the Canyon Centre development (7371 S. Canyon Centre Pkwy.) will be held on Tuesday, Feb. 18 at 6:45 p.m. in the City Council Chambers at Cottonwood Heights City Hall, 2277 E. Bengal Blvd. 

This is continuing coverage on the Canyon Centre property bordering the Big Cottonwood Canyon gateway and Wasatch Boulevard intersection, encompassing approximately 10.90 acres of land.

“This is to amend the Community Development Area per the State Code process,” explained Community and Economic Development Director Mike Johnson. “The step forward is three-fold.” 

He described the first step as being the development agreement which the Community Development and Renewal Agency (CDRA) Board approved at the previous (Dec. 17) meeting. 

(Resolution 2024-04: Approving Third Amendment to Development Agreement for the Canyon Centre CDRA was motioned by Board member Matthew Holton, seconded by Board member Shawn Newell, and unanimously approved.) 

At that meeting, Managing member Chris McCandless mentioned that the developers’ losses on this project have been and are substantial. They will not be benefiting from Tax Increment Financing (TIF) negotiated for this project but they don’t want those losses to come from the public. The TIF is detailed to be used for administration, construction of a parking structure, and public plaza improvements. 

Per the originally relinquished TIF agreement, the CDRA requested $10,138,667 in tax revenues that were projected to be generated by development to fund a portion of the project’s costs. Per the current amendments, the CDRA projects $15,218,257 in tax increment revenues that will be generated by development within the Project Area to fund a portion of project’s costs within the Project Area.

That Third Amendment to the Development Agreement amended the construction deadline until Dec. 31, 2028. It also changed the use of a portion of the Canyon Centre development from Office to Residential Condominiums. These changes included the condition that the developer submit an updated shared parking plan reflecting the change from office to condos. The developer also needed to agree to construct a city park with 12 months of condo construction completion. 

Johnson explained the second step of initiating an amendment to the interlocal agreements to the various taxing entities participating in this project. 

(Resolution 2025-01: Authoring Preparation of a Third Amendment to the Project Area Plan for the Canyon Centre CDRA was moved by Newell, seconded by Board member Suzanne Hyland, and unanimously approved.) 

Lastly, the third step was described by Johnson as amending the project area plan and budget. He mentioned that the CDRA board and staff had previously gone through the plan in detail, but final formal amendment of the documents is needed. 

“In the meantime, we are providing documents to the taxing entities,” Johnson said, mentioning the importance of the coordination with Salt Lake County and the Canyons School District. 

Copies of the Project Area map and boundary description may be obtained at no cost by contacting Cottonwood Heights Community and Economic Development Director Mike Johnson. 

Johnson can be reached by emailing [email protected] or calling 801-944-7060.

Copies of the third Amended Plan and the second Amended Budget are available to the public during business hours in the City Recorder’s office, or they may be requested by contacting Cottonwood Heights City Recorder Barbara Higgins at [email protected] or calling at 801-944-7021. λ