What did the development at Point of the Mountain get out of the Utah Legislature this year? A deal for sales tax revenue, the opportunity to buy more land, and relaxed rules on whether members of The Point's governing board could live or do business in the area.
A rendering of a portion of the River-to-Range corridor that will be part of phase one of The Point, a redevelopment project in Draper.These are the concessions Utah lawmakers gave Point of the Mountain and its governing body, the Point of the Mountain State Land Authority , in the 2024 legislative session.by the Legislature and signed by Gov.
The new rule also “modifies the definition of point of the mountain state land,” as the bill’s text says, to allow POMSLA to buy more land, as long as it is adjacent to the roughly 700 acres the state already owns. Stevenson said relaxing qualifications for board members will allow people with valuable perspectives to participate — people like current board member and Draper Mayor Troy Walker. Draper is The Point’s host city, and should therefore have a seat at the table, Stevenson said. The amended rule will let Walker and other board members lease land and do business within The Point.
The biggest addition to Point rules under the new bill is a new section to Utah code that “provides more detail” about POMSLA’s ability to issue bonds. The new rule specifies that POMSLA cannot issue bonds until it defines the parameters of the bond in a formal resolution, and submits those parameters to the State Finance Review Commission for review. Once issued, the board can use any income generated from Point projects to repay bonds and interest.
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