Recorder's Office

NOTICE OF HEARING

TO OWNERS OF PROPERTY WITHIN THE PROPOSED PATRIOT STATION COMMUNITY REINVESTMENT PROJECT AREA

The Redevelopment Agency of American Fork (the “Agency”) will hold a public hearing on December 10, 2019, commencing at 6:30 p.m. or as soon thereafter as possible, at the American Fork City Hall located at 31 N. Church Street American Fork, UT 84003 in the City Council Chambers. The purpose of the public hearing is to accept public comment on a draft project area plan and budget for the proposed Patriot Station Community Reinvestment Project Area.

The governing body of the Agency previously adopted a resolution authorizing the preparation of one or more draft community reinvestment project area (CRA) plan(s) and budget(s) for the proposed project area(s) within the Patriot Station Survey Area. Agency staff and consultants have prepared a draft plan for a proposed project area, along with a draft budget, within the survey area.

The Project Area is located immediately south of the American Fork FrontRunner Station. Copies of the project area plan, budget, and a boundary description are available at the American Fork City Offices and can be obtained at no cost by contacting Terilyn Lurker, City Recorder, (801) 763-3033.

A CRA does not create any new taxes. The CRA has no effect on any tax rates nor does it create an additional tax rate within the CRA. The CRA will not cause property tax rates to increase. A CRA will not cause your taxes to increase. Tax revenues that are raised for the CRA come from taxes that already exist, like property taxes. Taxing entities, like the school district and county, may volunteer to support the CRA through taxes that are already being collected. These taxing entities may participate in the CRA by participating incremental tax revenues that are created by new growth and development activity within the CRA. For the Patriot Station CRA, the anticipated new growth and development, include a new office, retail, hotel, and mixed-use developments. The CRA will not create an increase in your property’s assessed value. As has always been the case, if you make improvements to your property, your property’s assessed value will increase. County assessments will determine the value of your property as it always has. The CRA will not and cannot change this.

The Agency has requested $39.2 million in incremental tax revenues over 20 years that will be generated by development (new growth and new developments occurring after the CRA is created) within the Patriot Station CRA to fund a portion of project costs within the Patriot Station CRA. These tax revenues will be used for the following: major infrastructure improvements along 200 South and community gathering spaces in and around the FrontRunner Station. These taxes will be taxes levied by the following governmental entities, and, assuming current tax rates, the taxes paid to the agency for this project area from each taxing entity will be as follows: Utah County - $2,748,777 ($139,779 annually), Alpine School District -  $26,579,691  ($1,351,614 annually), American Fork City - $8,291,325 (421,626 annually), North Valley Water Conservancy District - $69,538 ($3,207 annually), and Central Utah Water Conservancy District - $1,546,187 ($78,626 annually). All of the taxes to be paid to the Agency for the development in the project area are taxes that will be generated only if the project area is developed. All concerned citizens are invited to attend the project area plan and budget hearing.

All persons interested, and present will be given an opportunity to be heard in this matter. Written comments may also be submitted to the Agency regarding the draft plan and budget prior to the date of the public hearing. All concerned citizens are invited to attend the hearing. Any person objecting to the proposed project area plan or budget or contesting the regularity of any of the proceedings to adopt the proposed project area plan or budget, may appear before the board at the hearing to show cause why the proposed project area plan or budget should not be adopted or why their property should be removed from the project. The proposed project area draft plan and budget will each be available in a substantially final form for public inspection at the American Fork City Offices and on the City’s website, https://afcity.org/.

People with disabilities may make requests for reasonable accommodation, which may include alternate formats, interpreters, and other auxiliary aids and services. Please make requests at least two days prior to the meeting date. To make a request, please contact the City Recorder’s Office by phone at (801) 763-3033.

Patriot Station CRA Project Area Budget

Patriot Station CRA Project Area Plan



NOTICE OF PUBLIC HEARING AND BONDS TO BE ISSUED

NOTICE IS HEREBY GIVEN pursuant to the provisions of the Local Government Bonding Act, Title 11, Chapter 14, Utah Code Annotated 1953, as amended (the “Act”), that on August 13, 2019, the City Council (the “Council”) of American Fork City, Utah (the “Issuer”), adopted a resolution (the “Resolution”) in which it authorized the issuance of the Issuer’s Telecommunication, Franchise and Sales Tax Revenue Bonds, Series 2019 (the “Series 2019 Bonds”) (to be issued in one or more series and with such other series or title designation(s) as may be determined by the Issuer), and called a public hearing to receive input from the public with respect to (a) the issuance of that portion of the Series 2019 Bonds issued under the Act and (b) any potential economic impact that the Project described herein to be financed with the proceeds of the Series 2019 Bonds issued under the Act may have on the private sector.

TIME, PLACE AND LOCATION OF PUBLIC HEARING

The Issuer shall hold a public hearing on September 24, 2019, at the hour of 7:00 p.m. at 31 North Church Street, American Fork City, Utah.  The purpose of the hearing is to receive input from the public with respect to (a) the issuance of that portion of the Series 2019 Bonds issued under the Act and (b) any potential economic impact that the Project to be financed with the proceeds of that portion of the Series 2019 Bonds issued under the Act may have on the private sector.  All members of the public are invited to attend and participate.

PURPOSE FOR ISSUING THE SERIES 2019 BONDS

The Series 2019 Bonds will be issued for the purpose of (a) financing all or a portion of the expansion and upgrade of the Issuer’s existing broadband infrastructure, including any contingencies (the “Project”); (b) funding any debt service reserve funds, as necessary; (c) paying capitalized interest; and (d) paying costs of issuance of the Series 2019 Bonds. 

PARAMETERS OF THE SERIES 2019 BONDS

The Issuer intends to issue the Series 2019 Bonds in the aggregate principal amount of not more than Thirty-five Million Dollars ($35,000,00), to mature in not more than thirty-two (32) years from their date or dates, to be sold at a price not less than ninety-seven percent (97%) of the total principal amount thereof, and bearing interest at a rate or rates not to exceed five and one-half percent (5.50%) per annum.  The Series 2019 Bonds are to be issued and sold by the Issuer pursuant to the Resolution, including as part of said Resolution, a General and a Supplemental Indenture (together, the “Indenture”) which were before the Council in substantially final form at the time of the adoption of the Resolution and said Indenture is to be executed by the Issuer in such form and with such changes thereto as shall be approved by the Issuer; provided that the principal amount, interest rate or rates, maturity, and discount of the Series 2019 Bonds will not exceed the maximums set forth above.  The Issuer reserves the right to not issue the Series 2019 Bonds for any reason and at any time up to the issuance of the Series 2019 Bonds.

REVENUES PROPOSED TO BE PLEDGED

The Issuer proposes to pledge all or any portion of the revenues produced by franchise taxes, sales taxes and broadband utility fees collected by the Issuer and legally permitted to be used for the Project (the “Revenues”).

OUTSTANDING BONDS SECURED BY PLEDGED REVENUES

The Issuer currently has $3,645,000 of bonds outstanding secured by one of the sources of the Revenues.  

OTHER OUTSTANDING BONDS OF THE ISSUER

Additional information regarding the Issuer’s outstanding bonds may be found in the Issuer’s financial report (the “Financial Report”) at:  https://reporting.auditor.utah.gov/SearchReport.  For additional information, including any information more recent than as of the date of the Financial Report, please contact Kyle Maurer, Finance Director at (801) 763-3000.

TOTAL ESTIMATED COST OF BONDS

Based on the Issuer’s current plan of finance and a current estimate of interest rates, the total principal and interest cost of the Series 2019 Bonds to be issued under the Act to finance the  Project, if held until maturity, is $67,652,000.

A copy of the Resolution and the Indenture are on file in the office of the American Fork City Recorder, 51 E. Main Street, American Fork City, Utah, where they may be examined during regular business hours of the City Recorder from 7:00 a.m. to 6:00 p.m., Monday through Thursday and 8:00 a.m. to 4:00 p.m. on Fridays, for a period of at least thirty (30) days from and after the date of publication of this notice.

NOTICE IS FURTHER GIVEN that a period of thirty (30) days from and after the date of the publication of this notice is provided by law during which any person in interest shall have the right to contest the legality of the Resolution, the Indenture or the Series 2019 Bonds, or any provision made for the security and payment of the Series 2019 Bonds, and that after such time, no one shall have any cause of action to contest the regularity, formality, or legality thereof for any cause whatsoever.

DATED this August 13, 2019.

                  /s/ Terilyn Lurker, CMC                  

City Recorder



The following documents are searchable City Council agendas and minutes:

  • 1996 City Council Agendas and Minutes
  • 1997 City Council Agendas and Minutes
  • 1999 City Council Agendas and Minutes
  • 2000 City Council Agendas and Minutes
  • 2001 City Council Agendas and Minutes
  • 2002 City Council Agendas and Minutes
  • 2003 City Council Agendas and Minutes
  • 2004 City Council Agendas and Minutes
  • 2005 City Council Agendas and Minutes
  • 2006 City Council Agendas and Minutes
  • 2007 City Council Agendas and Minutes
  • 2010 City Council Agendas and Minutes
  • 2011 City Council Agendas and Minutes


The following documents are searchable Planning Commission agendas and minutes:

  • 1996Planning Commission Agendas and Minutes
  • 1997 Planning Commission Agendas and Minutes
  • 1998 Planning Commission Agendas and Minutes
  • 1999 Planning Commission Agendas and Minutes
  • 2000 Planning Commission Agendas and Minutes
  • 2001 Planning Commission Agendas and Minutes
  • 2002 Planning Commission Agendas and Minutes
  • 2003 Planning Commission Agendas and Minutes
  • 2004 Planning Commission Agendas and Minutes
  • 2005 Planning Commission Agendas and Minutes
  • 2006 Planning Commission Agendas and Minutes
  • 2007 Planning Commission Agendas and Minutes
  • 2008 Planning Commission Agendas and Minutes
  • 2009 Planning Commission Agendas and Minutes
  • 2010Planning Commission Agendas and Minutes
  • 2011 Planning Commission Agendas and Minutes