Farmington's Station Park delayed until 2011
FARMINGTON (Davis County Clipper) — The city’s major mall project is being postponed for at least one more year due to economic hardships, according to developers.
CenterCal Properties LLC sent its request to Farmington City’s Redevelopment Agency in mid-September for an extension of the project, specifically delaying the increment tax. That increment tax would typically increase once construction begins, and CenterCal’s original due date for beginning construction was Dec. 31, 2009.
“It’s the market that’s really messed things up,” said Farmington City Manager Max Forbush.
Forbush cited a Jan. 18, 2007, agreement with the city’s RDA and Station Park that said $80 million worth of the construction project would need to begin by Dec. 31, 2009. That same agreement asked that any postponements be requested by Oct. 15, 2009.
“I believe they have the chance to make two or three postponements all together,” said Forbush. No further postponements are planned or expected at this time.
Get E-mail Updates from RealEstateNewsUtah.com
Receive FREE periodic updates from RealEstateNewsUtah.com. Subscribe here to be added to our mailing list.

