Redevelopment Agency Funding

To make Geneva a success it needs to be looked at as an investment, and to start any investment, you have to put money into it. Geneva is the benefactor of the largest redevelopment agency ever created in Utah, giving it great financial opportunities for growth and development.

Developers who work to grow the Geneva community will be encouraged to build quickly and cost-effectively while benefiting from incremental tax financing. That means that developers could potentially benefit from a projected $335 million reimbursement lasting 35 years.

The RDA will also provide funding to qualified infrastructure remediation expenses as well as tenant incentives—all contributing to the sustained growth and financial returns of Utah County’s new downtown, Geneva.

Geneva’s RDA benefits include:

  • Tax increment financing that could assist developers for 35 years for a projected total of $335 million.
  • The RDA can assist developers to build their sites in a quick and cost effective manner.
  • Expenses for infrastructure, remediation and tenant incentives will qualify for funding from the RDA.
  • Vineyard RDA is the largest in Utah state history and can provide funding for many years for specific multiple uses to benefit the project.
These benefits and more will contribute to Geneva becoming the new downtown center of Utah County.
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Rich Bennion