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[REGIONAL NEWS] Utah Inland Port Authority Board moves forward on possible tax differential deal with a Swiss rail-car maker

Posted by   /  December 28, 2018  /  No Comments

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Stadler company officers and Utah leaders tour one of Stadler’s new TEXRail trains. The company broke ground for a new Stadler plant at 100 S. 5600 W. in Salt Lake City Friday Oct. 13, 2017./Tribune file photo

 

By Taylor Stevens | Salt Lake City Tribune

Salt Lake City approved in May a first-of-its kind development incentive to help Stadler Rail, a Swiss rail-car maker, expand its headquarters, redirecting a portion of the company’s taxes to support construction of roads, utilities, a test track for rail cars and a rail spur.

Months later, the area was taken over by the Utah Inland Port Authority Board, which is tasked with overseeing development of the planned 20,000-acre distribution hub in Salt Lake City’s westernmost area — and which has the authority to claim up to 100 percent of the promised tax increment — or void it altogether.

It’s still unclear whether the port board will keep the promises the city made to Stadler Rail. But it took a step in that direction at its Thursday meeting, creating a project area for the property that would make it possible to give the company a tax deal in the future.

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  • Published: 3 weeks ago on December 28, 2018
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  • Last Modified: December 28, 2018 @ 4:51 pm
  • Filed Under: Regional News

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