Tuesday, February 16, 2010

Salt Lake City is poised to create a new taxing district along North Temple

In a first-of-its-kind move, Salt Lake City is poised to create a new taxing district along North Temple between downtown and the airport that, for decades, would tap property owners to help fashion a "Grand Boulevard."If adopted, owners from about 400 West to 2400 West would pay more than $200 per foot for both one-time construction costs and ongoing maintenance, including trash and snow removal.The street beautification, intended to blend with the planned airport TRAX line, would include new lighting, landscaping, multipurpose sidewalks, decorative walkways, bicycle paths and public art.A coalition of area property owners estimates the two fees, which would generate nearly $4.5 million, would apply to more than 130 owners. Property owners could finance over 10 years the one-time $185 per foot capital-project fee. The operating and maintenance fee -- $17.50 per foot after year one -- would be assessed for 30 years. The Salt Lake Tribune