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West Valley City's redevelopment tools proving to be successful

 (West Valley Journal) In the early 1990s the city's redevelopment agency selected Hercules Hill-B, an 81-acre parcel west of 5600 West, as a redevelopment area.

This tool is given to municipalities to allow tax increment revenue to be used to improve public infrastructure, prepare sites for development, assemble property, encourage private development and produce affordable housing for low-and-moderate income families.

Economic Development Director Brent Garlick said the RDA allowed Hercules Hill-B to reach its full potential. This RDA, along with several Economic Development Area projects, are working and bringing in new capital investment, jobs and increased tax revenue to the city's coffers.

"When you designate these under performing areas as an RDA and provide tax incentives, it really wakes them up," Garlick said. "It turns them into something that would have never been there otherwise."

RDA project areas have up to a 25-year life span. Hercules Hill-B provided the incentives needed to make this once under-utilized land now a very prosperous industrial area. Well-known companies such as Frito Lay, Fetzer's Architectural Woodworking, Phol, Inc. of America and Brody Chemical have made it its home. This added 230,120 square feet of industrial and manufacturing space, and increased it value by $12 million.

The city's economic department also calculated all the increased values of the various RDA projects. Over the past five years, these projects now have an increased value of more than $160 million. This number will continue to grow as RDA projects such as City Center, North Central and Southwest take off in 2010.

Original Article