[PAGE 1] BEAVER COUNTY REDEVELOPMENT AGENCY 105 East Center Wade Hollingshead Brandon Yardley P.O. Box 789 Chairman Member Beaver, UT 84713 Tammy T. Pearson P: (435)438-6464 Member May 9, 2025 NOTICE OF PUBLIC HEARING [Beaver County Community Development and Renewal Agency – Milford II (Expansion) Community Reinvestment Project Area] Beaver County Community Development and Renewal Agency (the “Agency”) will hold a public hearing on June 10, 2025, commencing at 10:15 a.m. or as soon thereafter as possible, at the Beaver County governmental offices located at 90 East Center Street, Beaver, Utah 84713 in the County Commission Chambers. The purpose of the public hearing is to accept public comment on (i) the proposed draft Milford II (Expansion) CRA Project Area Plan (hereafter the “Project Area Plan”), and (ii) the proposed draft of Milford II (Expansion) CRA Project Area Budget (hereafter the “Project Area Budget”), related to the Agency’s Milford II (Expansion) Community Reinvestment Project Area (the “Project Area”). The governing body of the Agency previously adopted at its May 1, 2025 Board Meeting a resolution authorizing the preparation of one or more draft community reinvestment project area plan(s) and budget(s) for the proposed project area(s) within the Project Area. Agency staff and consultants have prepared a Project Area Plan and Project Area Budget, within the survey area and have determined it to be in the best interests of the County, Agency, and its residents to hold a public hearing to receive input, comments and potential revisions and amendments to both the Project Area Plan and Project Area Budget. The Project Area Plan and Project Area Budget provides for the Agency to receive tax increment, as that term is defined in Title 17C of Utah Code (the Limited Purposes Governmental Entities – Community Reinvestment Agency Act, or the “Act”). Property tax revenues resulting from an increase in valuation of property within the Project Area will be paid to the Agency for Project Area development rather than to the taxing entity to which the tax revenues would otherwise have been paid; the use of tax increment will be considered by the other taxing entities through interlocal agreements. These interlocal agreements are anticipated to be with one or more of the taxing entities who levy property taxes within the Project Area, but will ultimately be finalized under a separate interlocal agreement between the Agency and the participating taxing entities. [PAGE 2] Based on the Project Area Budget, the Agency requests an estimated amount of $11,650,000 in tax increment revenues ( also referred to as, “Project Area Funds”) that are forecasted to be generated by development of a renewable energy development that will contain approximately 100MWac of solar panels, a racking and tracking system, inverters, and electrical collector system, access roads, and fencing (the “Project Development”), which will be constructed and financed within the Project Area. Longroad Eneregy (the “Developer”) acts as the developer, owner, and operator of the Project. The Project Area Funds are intended to be used in accordance with the Act, the Project Area Plan and Project Area Budget and to further encourage and promote the development activity of the Developer. The Project Area Plan and Project Area Budget address the land-use development, tax increment projections, and the cost benefit analysis. In the Project Area Plan and Project Area Budget, the Agency projects approximately $11,650,000 in tax increment revenues that will be generated by development within the Project Area to fund a portion of the Developer’s project costs all of which are anticipated to occur within the Project Area. The Project Area Budget contemplates the following estimated budget for utilizing the tax increment revenues: Uses (Redevelopment Activities) Total Redevelopment Activities (infrastructure, relocation, incentives, etc.) $ 9,905,614 Housing Requirement (10%) 1,165,366 RDA Project Area Administration (5%) 582,683 Total Uses of Tax Increment Funds $11,653,664 Redevelopment Activities may include but are not limited to construction of the Project Development, which includes solar panels, a racking and tracking system, inverters, and electrical collector system, access roads, and fencing. It is also anticipated that 10% of the Project Area Funds will be dedicated to affordable housing within the boundaries of Beaver County (the “County”) and used in accordance with the Act. Project Area Funds will also be utilized by the Agency to fund the cost of administering and operating the Project Area. As noted herein, Project Area Funds are tax increment revenues and are predicated upon the Project Development occurring and property taxes being levied and collected. The Project Area Budget makes the following assumptions: property taxes levied by the governmental entities listed below at the current tax rates, with a seventy percent (70%) participation level, and six (6) year for the tax increment collection period. Based on these assumptions, the tax increment revenues anticipated to be paid to the Agency from the Project Area from each taxing entity will be as follows: Entity Total Beaver County $2,087,736 Beaver County School District 7,534,543 Milford Fire District #2 509,908 Milford Area Hospital SSD #3 1,521,477 Total Tax Increment Paid to Agency $11,653,664 All the taxes to be paid to the Agency for the development in the Project Area are taxes that will be generated only if the Project Development is fully developed. A portion of the property tax revenues resulting from an increase in valuation of property within the Project Area will be paid to the Agency for Project Area development rather than to the taxing entity to which the tax revenue would otherwise have been paid. The table above estimates this to be approximately $11,650,000. [PAGE 3] The Project Area lies entirely within the boundaries of the County and is located approximately 10 miles north of Milford City, Utah. A map of the Project Area and legal description of the parcels are included in Exhibit A, which is attached hereto. The property encompasses approximately 970 acres of land. A copy of the Project Area map and boundary description may be obtained at no cost by contacting Preslee Jensen, Beaver County Commission Secretary, (435) 435-438-6464 or presleejensen1@beaver.utah.gov. Copies of the Project Area Plan and Project Budget are available to the public during business hours in the County Clerk/Auditor’s office, or they may be requested by contacting Ginger McMullin, Beaver County Clerk/Auditor, at (435) 438-6463 or gingermcmullin@beaver.utah.gov. All persons interested, and present will be given an opportunity to be heard in this matter. Written comments may also be submitted to the Agency regarding the Project Area Plan and Project Area Budget prior to the date of the public hearing. All concerned citizens are invited to attend the hearing. Any person objecting to the Project Area Plan or Project Area Budget, or contesting the regularity of any of the proceedings to adopt the proposed Project Area Plan and Project Area Budget, may appear before the Agency Board at the hearing to show cause why they should not be adopted. The proposed Project Area Plan and Project Area Budget will be available in a substantially final form for public inspection at the County Offices and on the County’s website at https://beaver.utah.gov. People with disabilities may make requests for reasonable accommodation, which may include alternate formats, interpreters, and other auxiliary aids and services. Please make requests at least two days prior to the meeting date. To make a request, please contact the County Clerk/Auditor’s Office by (435) 438-6463 or by email to gingermcmullin@beaver.utah.gov. Wade Hollingshead, Chair Beaver County Community Redevelopment and Renewal Agency (435) 438-6464 [PAGE 4] Exhibit A: Map of the Milford II (Expansion) Community Reinvestment Project Area Exhibit A: [PAGE 5] Milford Solar Phase II, LLC CRA 2025 Expansion Property Owners, Addresses, Legal Descriptions, and Acreage Amounts Total Acreage: 970.68 Pearson Property Jetta Pearson Robinson P.O. Box 18 Minersville, UT 84752 Seth Davie P.O. Box 18 Minersville, UT 84752 Tammy Pearson P.O. Box 119 Minersville, UT 84752 Tax ID No. 02-0012-0001 (360 acres) The Southwest Quarter of the Northwest quarter and the East half of Section 17, Township 27 South, Range 10 West, Salt Lake Base and Meridian. Obsidian Property Obsidian Land, LLC 35 West 300 South Heber City, UT 84032 Tax ID No. 02-0015-0003 (307.84 acres) The North Half of Section 16, Township 27 South, Range 10 West, Salt Lake Base and Meridian -less that portion lying within the Railroad right of way Bradshaw Parcel Laura Bradshaw, Trustee LKKC Living Trust PO Box 1054 Cedar City, UT 84720 Tax ID No. 02-0015-0004 (302.84 acres) The South half of Section 16, Township 27 South, Range 10 West, Salt Lake Base and Meridian less that portion lying within the Railroad right of way less that portion deeded to Level 3, ommunications, LLC by Warranty Deed recorded August 27, 1999 as Entry No. 204421, in Book 320, Page 820, described as follows: Commencing at the East one-quarter of Section 16, Township 27 South, Range 10 West, Salt Lake Base and Meridian, thence North 88°09'12" West along the center section line of said Section 16, 3222.95 feet to the West right of way line of the Union Pacific Railroad and the true point of beginning, running thence North 88°09'12" West along said center section line 491.37 feet, thence South 87°29'32" West along the right of way of a County Road 40.00 feet, thence South 01°10'23" West 407.02 feet, thence South 88°09'12" East 531.32 feet to the above said railroad right of way line, thence North 01°10'08" East along said right of way line 410.06 feet to the point of beginning (Tax ID No. 0002-0015-0010).