2006 Utah Code - 17C-2-206 — Amending an urban renewal project area budget.

     17C-2-206.   Amending an urban renewal project area budget.
     (1) An agency may by resolution amend an urban renewal project area budget as provided in this section.
     (2) To amend an adopted urban renewal project area budget, the agency shall:
     (a) advertise and hold one public hearing on the proposed amendment as provided in Subsection (3);
     (b) obtain the approval of the taxing entity committee if the agency was required under Section 17C-2-204 to obtain the consent of the taxing entity committee for the project area budget as originally adopted; and
     (c) adopt a resolution amending the project area budget.
     (3) The public hearing required under Subsection (2)(a) shall be conducted according to the procedures and requirements of Subsections 17C-2-201(2)(c) and (d), except that if the amended project area budget proposes that the agency be paid a greater proportion of tax increment from a project area than was to be paid under the previous project area budget, the notice shall state the percentage paid under the previous project area budget and the percentage proposed under the amended project area budget.
     (4) If a proposed amendment is not adopted, the agency shall continue to operate under the previously adopted project area budget without the proposed amendment.

Renumbered and Amended by Chapter 359, 2006 General Session