Heber City councilmembers are seeking support from the Wasatch County Council and the Wasatch County School District for a community reinvestment area, or CRA.
Essentially, it’s a tax increment funding plan. Other local entities will share 75% of their property tax revenue for the next 20 years so that money can be invested in revitalizing downtown Heber. In return, Heber promises to make the area more profitable, generating higher revenue that will eventually reward those investors.
Heber City councilmember Mike Johnston told the Wasatch County Council Wednesday, Nov. 13, the CRA will benefit the whole valley…