- Salt Lake City officials express concern over $51 million tax incentives requested for the Silo Park project.
- Its developers seek waivers from sustainable development requirements, citing constraints.
- Community Reinvestment Agency board debates potential adjustments to ensure fewer policy waivers.
SALT LAKE CITY — Leaders of Utah’s capital city appeared less than thrilled when a developer who was recently punished over a demolished historic building submitted a request to receive incentives on another much larger project.
Blaser Ventures and Lowe Property Group submitted a tax incentives request for their Silo Park project last week, seeking 90% reimbursement from tax increments over the next 25 years, which translates to more than $51.5 million of the $58.4 million increase anticipated over that time.
However, members of the Salt Lake City Community Reinvestment Agency board, who are all members of the Salt Lake City Council, spent most of a discussion on the application Tuesday talking about a pair of waivers the developers requested, which turned into debates over potential agreement process adjustments…