Monday, December 27, 2010

Massive Vineyard development waiting for approval

The largest single development project in Utah County history is primed to finally get started, if the Alpine School District's concerns are resolved. The final touches could be put on a tax break deal in January that would launch the effort to take the old Geneva Steel property and make it a hub for residential, commercial and transportation use. The town of Vineyard as well as landowner Anderson-Geneva and other stakeholders are close to settling on terms that will give up to $300 million in tax breaks over 40 years to develop the 1,000-plus acres on the shore of Utah Lake. The plan could add as many as 26,000 new residents to the existing 100-plus people who live there now.

But first, the Alpine School District has some concerns to be dealt with. The district is part of the Taxing Entity Committee that has to approve the tax breaks before they can take effect.

If they gain approval, the company expects to start installing infrastructure like main roads and sewer lines within six months. Provo Daily Herald