News

Actions

Riverton Mayor says new shopping, residential center will boost local tax revenue

Default-Image_1280x720.png
Posted at 8:01 PM, Jan 22, 2016
and last updated 2016-01-22 23:41:47-05

RIVERTON, Utah – Elected officials hope it will become the center of a lifestyle in the southwest side of the Salt Lake Valley. This week, the city council approved the second portion of a Daybreak-like development for 500 acres of farmland.

The development is made up of two portions, an 85-acre shopping center and several residential and commercial developments in the area of 13400 south and Bangerter Highway. Riverton Mayor Bill Applegarth said the city has been looking at developing the land for more than 10 years, and said they have finally found the perfect project.

“It’ll impact our whole community,” Applegarth said. "Its a place to eat, find entertainment, a place to work.”

The shopping center is being built by CentralCal Properties, LLC. They’re the ones behind Station Park in Farmington. They’re calling this new property Mountain View Place. When it’s done, Riverton expects the shopping center will boost city sales tax revenues about 30 percent.

“We do not have a city property tax” explained Applegarth. “We run off of sales tax and franchise tax, so our sales tax estimates, it will be in a conservative way, at least an additional two million dollars in sales tax, and my guess is as time goes on it will be much higher than that.”

The 543-acre property is owned by the Suburban Land Reserve, a real estate arm of The Church of Jesus Christ of Latter-day Saints. The Church operated a welfare farm for several years on the land. Riverton residents Michelle and Vince Chilcott said it is a little sad to see that go in the wake of progress, but he recognizes it’s inevitable.

“It's growth; growth is here,” Michelle Chilcott said. “It keeps our tax dollars here in our community, gives us a closer place to shop.”

Construction on the shopping center has already begun, and it is expected to be complete late 2017. The housing developments will continue as the market dictates.