(1)The fairpark district may:
(1)(a) facilitate and bring about the development of land within the fairpark district boundary, including the development of a qualified stadium to house a major league sports team;
(1)(b) enter into a lease agreement with an affiliate of a major league sports team to lease a qualified stadium to a major league sports team and receive lease payments on behalf of the state;
(1)(c) facilitate and provide funding for the development of land in a project area, including the development of public infrastructure and improvements and other infrastructure and improvements on or related to land in a project area;
(1)(d) engage in marketing and business recruitment activities and efforts to encourage and facilitate development of land within the fairpark district boun
Free access — add to your briefcase to read the full text and ask questions with AI
(1) The fairpark district may:
(1)(a) facilitate and bring about the development of land within the fairpark district boundary, including the development of a qualified stadium to house a major league sports team;
(1)(b) enter into a lease agreement with an affiliate of a major league sports team to lease a qualified stadium to a major league sports team and receive lease payments on behalf of the state;
(1)(c) facilitate and provide funding for the development of land in a project area, including the development of public infrastructure and improvements and other infrastructure and improvements on or related to land in a project area;
(1)(d) engage in marketing and business recruitment activities and efforts to encourage and facilitate development of land within the fairpark district boundary;
(1)(e) as the fairpark district considers necessary or advisable to carry out any of the fairpark district's duties or responsibilities under this chapter:
(1)(e)(i) buy, obtain an option upon, or otherwise acquire any interest in real or personal property;
(1)(e)(ii) sell, convey, grant, dispose of by gift, or otherwise dispose of any interest in real or personal property; or
(1)(e)(iii) enter into a lease agreement on real or personal property, as lessee or lessor;
(1)(f) sue and be sued;
(1)(g) enter into contracts generally;
(1)(h) exercise powers and perform functions under a contract, as authorized in the contract;
(1)(i) receive and spend enhanced property tax revenue, as provided in this chapter;
(1)(j) accept financial or other assistance from any public or private source for the fairpark district's activities, powers, and duties, and expend any funds so received for any of the purposes of this chapter;
(1)(k) borrow money, contract with, or accept financial or other assistance from the federal government, a public entity, or any other source for any of the purposes of this chapter and comply with any conditions of the loan, contract, or assistance;
(1)(l) issue bonds to finance the undertaking of any development objectives of the fairpark district, including bonds under Chapter 17, Utah Industrial Facilities and Development Act, bonds under Chapter 42, Assessment Area Act, and bonds under Chapter 42a, Commercial Property Assessed Clean Energy Act;
(1)(m) hire employees, including independent contractors;
(1)(n) transact other business and exercise all other powers provided for in this chapter;
(1)(o) engage one or more consultants to advise or assist the fairpark district in the performance of the fairpark district's duties and responsibilities;
(1)(p) enter into an agreement with a private contractor to provide a municipal service within a project area that is not being provided by a municipality or other governmental service provider;
(1)(q) provide public safety services in the area within the fairpark district boundary, including under a contract, approved by the board, with an existing governmental provider of public safety services;
(1)(r) finance, develop, own, lease, operate, or otherwise control public infrastructure and improvements in a project area; and
(1)(s) exercise powers and perform functions that the fairpark district is authorized by statute to exercise or perform.
(2) (2)(a) The fairpark district is responsible for and has jurisdiction over any development that occurs on fair park land, including the funding of that development.
(2)(b) The fairpark district shall consult and coordinate with the fair park authority with respect to any development activities anticipated for or that occur on fair park land.
(2)(c) Any development of fair park land shall be:
(2)(c)(i) subject to and compatible with the use of fair park land for state fair purposes and related and other activities under the jurisdiction of the fair park authority; and
(2)(c)(ii) as far as practicable, consistent with the master plan for fair park land approved by the fair park authority.
(3) With respect to state land other than fair park land, the fairpark district and the facilities division shall consult with each other and with agencies occupying the land with respect to any potential change of use or development of the land.
(4) The total amount of the fairpark district's stadium contribution may not exceed $900,000,000.
(5) Beginning April 1, 2025, the fairpark district shall:
(5)(a) be the repository of the official delineation of the fairpark district boundary, identical to the fairpark district boundary as delineated in the shapefile that is the electronic component of H.B. 562, Utah Fairpark Area Investment and Restoration District, 2024 General Session, subject to:
(5)(a)(i) any later changes to the boundary enacted by the Legislature; and
(5)(a)(ii) any additions of land to the fairpark district boundary under Subsection (6); and
(5)(b) maintain an accurate digital file of the boundary that is easily accessible by the public.
(6) The fairpark district boundary may be expanded to include land outside the fairpark district boundary if:
(6)(a) the land is owned by a qualified owner;
(6)(b) the qualified owner consents to including the land within the fairpark district boundary; and
(6)(c) the land is:
(6)(c)(i) contiguous to the fairpark district boundary; or
(6)(c)(ii) within 200 feet of the fairpark district boundary.