Developer in the works for East Gate
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No Comments [ Add Comment ]By Bryon Saxton
Standard-Examiner Davis Bureau
bsaxton@standard.net
L
AYTON -- A memorandum of understanding has been reached with the "primary developer" in the first phase of the East Gate development.
The proposed 550-acre development east of Hill Air Force Base is expected to begin bringing family-sustaining jobs to the area possibly as early as 2009. The Layton City Council in a Thursday work meeting approved a memorandum of understanding with a development firm that has more than a billion dollars in assets.
The city requested that the name of the developer not be made public because of ongoing negotiations
The memorandum, prepared by City Attorney Gary Crane, pledges the city's support to the developer and clears up any concerns with wording in an agreement between parties that may hinder business recruitment.
"It's not a contract, it's a letter," Crane said.
The primary developer has agreed to purchase 65 acres of land to be included in the industrial park project, in addition to an option on 26 more acres, city economic development specialist Ben Hart said.
The past few weeks, the city has prepped for the development of the property by creating a partnership with Davis County to include in the overall project unincorporated county land and agreeing to a $17,000 contract with the Economic Development Corporation of Utah.
EDCU will assist the city in recruiting aerospace and composite manufacturing companies for the property.
A recent survey by the University of Utah Bureau of Economic and Business Research reveals job wages are on the decline in the county because of job loss in the government sector and manufacturing, with job gains in the service industry, which has a tendency to pay a lower wage.
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