63N-2-507.  Assigning convention incentive.

(1)  A host local government that enters into an agreement with the office may, by resolution, assign a convention incentive to a community reinvestment agency, in accordance with rules adopted by the office.

Terms Used In Utah Code 63N-2-507

  • Agreement: means an agreement described in Section 63N-2-503. See Utah Code 63N-2-502
  • Community reinvestment agency: means the same as that term is defined in Section 17C-1-102. See Utah Code 63N-2-502
  • Convention incentive: means an incentive for the development of a qualified hotel, in the form of payment from the incentive fund as provided in this part, as authorized in an agreement. See Utah Code 63N-2-502
  • Host local government: means :
(a) a county that enters into an agreement with the office for the construction of a qualified hotel within the unincorporated area of the county; or
(b) a city or town that enters into an agreement with the office for the construction of a qualified hotel within the boundary of the city or town. See Utah Code 63N-2-502
(2)  A host local government that adopts a resolution assigning a convention incentive under Subsection (1) shall provide a copy of the resolution to the office.

Amended by Chapter 350, 2016 General Session

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