School board OK may kick-start NSL development

NORTH SALT LAKE (Davis County Clipper) — Now that the Davis School District has thrown their support behind the long-dormant Eaglewood Village, the development may start coming back to life.

The Davis County School Board recently voted to participate in a community development agreement (CDA) designed to give Eaglewood Village a break on property taxes once construction starts to go vertical. The decision doesn’t deprive the district of any property taxes it currently receives, and for the length of the CDA they’ll still receive 65 percent of any new property taxes generated.

“It’s a win-win situation,” said Tamara Lowe, vice president of the district board. “No matter what happens to the property we’re not going to lose any money, and at the end of 12 years we’ll get the full amount of the taxes.”

According to Compass Development’s Ben Lowe, the final approval of the CDA will finally help kick-start the project into action.

“The economy and real estate market have obviously been challenging, but Eaglewood Village is a great development in an excellent location,” he said. “With the approval of the CDA, we are in a position to complete the site work this summer and expect to gradually build out the project over the next few years.”

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