11-13-305 - Impact alleviation requirements -- Payments in lieu of ad valorem tax -- Source of impact alleviation payment.
11-13-305. Impact alleviation requirements -- Payments in lieu of ad valorem tax --Source of impact alleviation payment.
(1) (a) (i) A project entity may assume financial responsibility for or provide for thealleviation of the direct impacts of its project, and make loans to candidates to alleviate impactscreated by the construction or operation of any facility owned by others which is utilized tofurnish fuel, construction or operation materials for use in the project to the extent the impactswere attributable to the project.
(ii) Provision for the alleviation may be made by contract as provided in Subsection (2) orby the terms of a determination order as provided in Section 11-13-306.
(b) A Utah public agency that is not a project entity may take the actions set forth in thisSubsection (1) as though it were a project entity with respect to its ownership interest in facilitiesproviding additional project capacity.
(2) A candidate may, except as otherwise provided in Section 11-13-306, require theproject entity or, in the case of facilities providing additional project capacity, any other publicagency that owns an interest in those facilities, to enter into a contract with the candidate requiringthe project entity or other public agency to assume financial responsibility for or provide for thealleviation of any direct impacts experienced by the candidate as a result of the project orfacilities providing additional project capacity, as the case may be. Each contract with respect to aproject or facilities providing additional project capacity shall be for a term ending at or beforethe end of the fiscal year of the candidate who is party to the contract immediately before thefiscal year in which the project becomes, or, in the case of facilities providing additional projectcapacity, those facilities become subject to the fee set forth in Section 11-13-302, unlessterminated earlier as provided in Section 11-13-310, and shall specify the direct impacts ormethods to determine the direct impacts to be covered, the amounts, or methods of computing theamounts, of the alleviation payments, or the means to provide for impact alleviation, provisionsassuring the timely completion of the project or facilities providing additional project capacityand the furnishing of the services, and such other pertinent matters as shall be agreed to by theproject entity or other public agency and the candidate.
(3) Beginning at the time specified in Subsection 11-13-302(1), the project entity or otherpublic agency shall make in lieu ad valorem tax payments to that candidate to the extent requiredby, and in the manner provided in, Section 11-13-302.
(4) Payments under any impact alleviation contract or pursuant to a determination by theboard shall be made from the proceeds of bonds issued for the project or for the facilitiesproviding additional project capacity or from any other sources of funds available with respect tothe project or the facilities providing additional project capacity.
Renumbered and Amended by Chapter 286, 2002 General Session