It’s part of longstanding efforts among county leaders to spur economic development in the further, more undeveloped reaches of western Weber County.

Per last Tuesday’s action, county commissioners created three public infrastructure districts, or PIDs, in connection with the private 355-acre Promontory Commerce Center business park proposal. Per state law, such entities may levy property taxes in their jurisdictional confines to help develop roads, parks, trails, water lines, sewer systems, stormwater drainage networks and fire protection systems.

“PID funds can only be used for public infrastructure,” said Stephanie Russell, the Weber County economic development director.

An entity called BlackPine Group is overseeing the Promontory Commerce Center proposal and the vision calls for assembly, warehousing and light manufacturing operations. Long term, BlackPine officials say the entities using the space could generate up to $1.4 billion a year in gross revenue and directly employ 3,400 people.

Image supplied, Weber County

Weber County commissioners on June 20 approved zoning changes on the 355 acres where the plans are proposed and a development agreement with BlackPine, allowing the plans to move forward. Part of the 355-acre footprint currently contains Wadeland Dairy property.

For now, though, much of the area where Promontory is to take shape off the 12th Street corridor around 5900 West is undeveloped agricultural and open space, with the vision yet to be realized. BlackPine officials have been in contact with would-be private-sector investors, but PIDs and the funding available through them also figure in the development effort.

PIDs are relatively new economic development tools outlined in legislation approved in 2019, Senate Bill 228. Weber County Commissioners, late last year, approved creation of three PIDs in connection with expansion plans at the Snowbasin ski resort in the Ogden Valley to aid with that development proposal.

As the PID governing document approved last Tuesday reads, each of the three Promontory PIDs could bond for up to $150 million in debt, or $450 million in all between them, to help with infrastructure development. Each district could levy a property tax of up to 0.005 per dollar of taxable value on property owners within its confines, which amounts to $500 in taxes for every $100,000 of taxable value.

Bonds issued in the PIDs would have to be paid off over 31 years maximum and only property owners within PIDs would be subject to the tax created to pay them off. Weber County would not be liable to cover any debt costs, nor would property owners outside the confines of the Promontory PIDs.

Tim Vandenack, Standard-Examiner

Each of the three districts is overseen by boards with three trustees. The members of the Promontory PID boards are Garrett Hansen, Brad Margetts and Daniel Stephens, the BlackPine managing partner, according to the governing document.

PIDs may also tap into tax-increment financing, essentially deferred property tax revenue generated by new development in a zone that would otherwise go to traditional taxing entities like the county and school districts. County officials are looking into creation of a TIF zone for the Promontory project, but plans are still in the works. “The project area has not been created, we are still in the review and negotiation process,” Russell said.

Russell deferred further comment to a BlackPine rep, who didn’t immediately respond to a Standard-Examiner query seeking comment.