Bob Springmeyer and Jon Springmeyer of Bonneville Research made this presentation to the Vestpocket Business Coalition on May 20, 2009. Bob is principal of Bonneville Research and has consulted with local governments for over 30 years, directing Economic Development Planning Studies for Brigham, Salt Lake, Sandy, Bountiful, Riverton, West Valley and South Jordan Cities. He directed the Economic Analysis/Tax Studies completed for the Downtown Alliance, the Utah State Tax Review Commission and Salt Lake County. Formerly with the international consulting firm, Booz Allen & Hamilton, Bob is educated in Political Science, Economics and Business Management. Bob is a past president of the Salt Lake Rotary Club and a founder of the Mountain West Venture Capital Club. Jon is the Vice President of Bonneville Research and has over ten years experience in commercial property management, construction management industries and the recreation industry. Mr. Jon Springmeyer directs all Urban Renewal/Redevelopment (RDA) projects for Bonneville Research and has been involved with numerous UR/RDA projects along the Wasatch Front including Taylorsville, Holladay and South Salt Lake cities. Prior to joining Bonneville Research, Jon was the Director of Properties for Amsource Development; a Salt Lake City based Real Estate Development Company.
Bob is principal of Bonneville Research and has consulted with local governments for over 30 years, directing Economic Development Planning Studies for Brigham, Salt Lake, Sandy, Bountiful, Riverton, West Valley and South Jordan Cities. He directed the Economic Analysis/Tax Studies completed for the Downtown Alliance, the Utah State Tax Review Commission and Salt Lake County. Formerly with the international consulting firm, Booz Allen & Hamilton, Bob is educated in Political Science, Economics and Business Management. Bob is a past president of the Salt Lake Rotary Club and a founder of the Mountain West Venture Capital Club.
Jon is the Vice President of Bonneville Research and has over ten years experience in commercial property management, construction management industries and the recreation industry. Mr. Jon Springmeyer directs all Urban Renewal/Redevelopment (RDA) projects for Bonneville Research and has been involved with numerous UR/RDA projects along the Wasatch Front including Taylorsville, Holladay and South Salt Lake cities. Prior to joining Bonneville Research, Jon was the Director of Properties for Amsource Development; a Salt Lake City based Real Estate Development Company.
Who and where are our small businesses?
What is and who are the future?
WEST VALLEY CITY — Plans for an international marketplace to complement the Utah Cultural Celebration Center could be economically infeasible, according to city employees and a consultant paid to study the ethnic food market.
However, West Valley City officials have offered a private developer about $7.2 million in tax breaks and land value to develop the long-sought project.
Plans for the 18-acre marketplace have been in place for nearly a decade, but its construction has been slowed by legal issues regarding ownership of the land in question and staffing turnover at the city.
Tuesday, the City Council approved a contract to sell the land, but council members still want to force Ascent Construction to meet specific tenant requirements.
For example, the city could require that no more than 30 percent of the project space be represented by any one ethnicity, said Councilman Mike Winder.
Winder's fears were raised after West Valley economic development director Nicole Cottle told the council that the project could easily turn into more of a Latino market than an international one.
Current plans call for the city to retain control over the project's architecture. The purchase price of the land would be about $2 million, almost the exact price paid for the land 10 years ago, said West Valley Redevelopment Agency administrator Brent Garlick. That's $2.5 million less than the land is worth, according to city officials.
Tax-increment funding, which comes from property taxes not paid by the developer, is expected to garner about $4.6 million for Ascent.
The city-owned Utah Cultural Center is tucked away on a dead-end street near The Westerner private club on Redwood Road. The area is a gateway to the city, but that fact is far from obvious to the casual observer.
For now, the cultural center is bordered by a telecommunications business and a multifamily housing complex on one side. On the other, a flock of geese reside on the banks of the Jordan River near picnic tables and aromatic bushes blossoming in pink and purple.
Plans call for the picnic tables and plaza to be replaced by a major through street.
"We look forward to having it here, whatever it ends up being," cultural center executive director Ross Olsen said of the marketplace project. "It should speak to the international community. It should be something special."
A study by Bonneville Research found that more than 47 percent of West Valley residents can be considered ethnic. The ethnic food market is growing, but the project will only succeed if it draws customers from more than 10 minutes away, the study found.
City officials want shovels in the ground for the project as soon as possible, but Ascent President Brad Knowlten admitted that tightened financial markets and a slow retail sector could delay the development.
But the clock is ticking on the tax-increment funding option, which expires in 11 years.
The international marketplace is expected to include representation from Latino, Asian, Pacific-Islander, African-American and American Indian cultures. No leases have been signed — or offered — but project marketer and recruiter Katherine Quinlan said it will ultimately be like an indoor farmers market with retail space at various size and price levels.
"Usually, those smaller independently owned boutique retailers are looking to be clustered together with other like businesses," Quinlan said.
The project could also include housing, office space and recreational access to the Jordan River.
For more information, visit www.wvc-ut.gov/index.aspx?nid=735.
Wednesday, 13 May 2009
Reva Bowen - DAILY HERALD
Wheels are turning in Orem this week, and it's not too late to bike to work, take a bike ride with the mayor or give input on a soon-to-be developed trail and bike plan for the city.By proclamation, Orem is following the lead of the League of American Bicyclists in observing "Bike to Work Week" this week, and "Bike to Work Day" on Friday.
The designation is a nationwide endeavor to educate the public about the benefits of bicycling, and to increase awareness of and respect for bicyclists, according to Orem's proclamation.
"For me, 'Bike to Work Week' is not just one week, or one day -- it's every day," said Brad Woods, manager of Mad Dog Cycles in Orem and a member of the city's transportation advisory commission. "I'm grateful to Orem city. They're willing to recognize it and recognize bicycles can make a difference, and do something about it."
Cities across the county are observing the week. In Provo, about 100 people showed up bright and early at the Utah County Historic Courthouse on Tuesday for the city's Bike to Work Day event. Provo Mayor Lewis Billings led the crowd on a three-mile ride through city streets before returning where they started.
The event also included free helmets and bike tune-ups for participants.
"Many people who live or work in Provo already enjoy the benefits of bicycling regularly," said Billings, who cycles regularly. "This event gives those of us who already love bicycling a chance to encourage others to try it."
Orem's big ride will be Friday. The public is invited to meet at the City Center, 56 N. State St., at 8 a.m. for a continental breakfast, to be followed by a 15- to 20-minute bicycle ride with Mayor Jerry Washburn, members of the City Council, and city staff.
Paul Goodrich, Orem's transportation engineer, said those participating in Friday's bike ride will first meet in the rotunda of the City Center, where there are displays and maps showing existing trails and parks, schools, and open spaces, and information about how the public can give input on trail and bike planning.
Goodrich said federal funding has been obtained through the Mountainland Association of Governments. A connectivity study that will be done for the east central area of Utah County will involve developing a trail and bike master plan for Orem. That plan will then be integrated with the plans of Provo, Lindon and Vineyard.
Community support of and involvement with the trail and bike plan is one of the "biggest goals," said Connie Douglas, associate transportation engineer in Orem.
"We want to find those who like to ride bikes and want to see them more in the transportation system," Goodrich said. "We want to get to the grass roots -- to people who walk, bike and jog. We want to get their thoughts before we get deep into anything [with the study]."
Right now, Orem may be "just a little behind the curve" in the development of trails and bike paths in comparison to other communities, Goodrich acknowledged.
But at the same time, Orem ranked third highest in "walkability" among 41 Utah cities in a recent study conducted by Bonneville Research. The study scored cities on factors such as having a center (shopping district, main street or public place), neighborhoods compact enough for businesses to flourish and public transportation to run, mixed incomes and mixed uses, plentiful parks and public spaces, and nearby schools and work places.
"We're already a pretty decent community," Goodrich said. "We just want to improve on things if we can."
Members of the public who would like to provide input on Orem's proposed trail and bike plan are encouraged to contact Paul Goodrich by phone at (801) 229-7320, or by e-mail at email@example.com.
A cap and trade proposal supported by President Barack Obama would increase electricity bills in the Beehive State by $1,115 per capita, Rep. Jason Chaffetz, R-Utah, said Friday at the Utah Taxpayers Association's annual conference.
Chaffetz obtained the information from an analysis created for Republicans on the House Ways and Means Committee, and he described the increase as a tax on businesses and regular folks.
"This cap and trade will be at the heart of what is debated in Congress between now and Memorial Day," said the freshman Utah congressman.
With cap and trade, the government would put a cap on the amount of carbon emissions allowed. If businesses invested in reducing carbon emissions, they could sell their allowable emissions to someone else. The idea is to clean the air and reverse humankind's impact on global climate change.
"I don't buy the whole global warming scheme," Chaffetz said.
Chaffetz is more concerned with how, if emissions are traded on a market by investors and speculators, energy prices will increase, which would be "devastating to the economy," he told conference attendees. Businesses are the largest supporters of the association, and they feel they unfairly pay the bulk of taxes.
"Fundamentally at their core, environmentalists want higher energy prices," Chaffetz said. "There is a fundamental core belief that if the energy prices go up, people will use less."
While Chaffetz believes there is some truth to that idea, cap and trade will be too expensive, possibly the largest tax increase ever, with billions generated in cap and trade sales — and the franchise taxes the government collects from utility bills — over the next decade.
However, not everyone believes cap and trade amounts to a tax.
Bob Springmeyer, a former Democratic candidate for Utah governor who works in economic and public policy analysis, said when contacted by the Deseret News that he believes there are only three ways to clean up the air: restricting emissions, cap and trade or taxes.
If government restricted emissions, companies that couldn't conform would close and people would lose their jobs. With cap and trade, emissions would be traded on a market, and with a tax, the government would collect revenue from companies that polluted.
When he ran for governor, Springmeyer said he supported a tax because Utah is a coal-mining state. "If you do it in taxes, that revenue can stay in Utah and can offset the dislocations of our coal industry," he said.
In addition to cap and trade, Chaffetz said he has been surprised at the casual attitude in Washington when spending taxpayers' money. Trillion is the new billion, which was the new million, and sometimes, Chaffetz said, he stares at the fiscal allocations in bills just to make sure he's not confusing "million" with "trillion," for instance. "If you were to spend $1 million a day every day, it would take you nearly 3,000 years to get to $1 trillion," he said.