The Oakley City Planning Commission meets Tuesday for a work session on city center development.
The only developer officially at the table right now is Steve Smith, who has roots in the community. He grew up in Marion and went on to make money in the financial technology industry.
Smith sold his company, Finicity, to Mastercard for $825 million in 2020. Finicity helps lenders get access to customers’ financial records when they apply for loans, make payments or do other business with lenders.
At Tuesday’s meeting, Smith will have a team present to discuss entering into a development agreement with the city for land around the intersections of state Route 32 with W. Center Street and W. Weber Canyon Road. That's the Oakley city center.
According to public records, Smith controls a little over six acres there. The commission has fielded questions from locals in recent months about what’s going to happen now that Smith has that land.
Oakley is a town of about 1600. The planning commission recently devoted time to public input specifically about the city center’s future.
Officials explained at the March 1 planning commission meeting that in addition to the land Smith owns, he could also develop the land the city currently holds next to city hall, since the city council voted in October to work with him.
That land would be developed according to the city’s master plan, originally formed in 2009, which envisions plazas, walkways, parking and updated buildings for the area.
At the March 1 meeting, officials emphasized there are many steps to go before any big changes.
City Planner Stephanie Woolstenhulme explained how things could evolve north and south of Center Street.
“For the north side, the ball’s in their [Smith and his team’s] court. We'll see what happens,” she said. “For the south side, we’re soliciting public input to start to develop that master plan. It will change obviously, depending on what Mr. Smith proposes for the north side.”
Tuesday’s meeting will begin the planning process on the north side. Because any development agreement would need to be approved by the city council, the public can give input on the specific plans in the future.
Tuesday is just a public work session. The public can attend work sessions but not comment, which is true of work sessions at every municipal level in Utah.
A handful of people have complained the process isn’t proceeding out in the open. But most officials stress the process has barely begun.
Lane Livingston resigned from the planning commission earlier this year because he was unhappy with the development process.
He speculates whether development will proceed in the best interest of the community, in large part because of Smith’s apparent wealth.
“That's my biggest concern with someone like that,” Livingston said, “anybody that's got enough money, what they can do.”
But Mayor Zane Woolstenhulme is more confident in Smith.
The mayor told KPCW Oakley is fortunate to have someone at the table who lives in the community, has a stake in it and has not asked anything of it.
He said Smith has not asked for tax breaks or incentives from the city.
A portion of Smith’s redevelopment efforts is already underway: turning the historic Road Island Diner, which closed in 2021, into Oakley Diner.
The plan is to expand the diner, including updated signage and a drive-thru. The city leased Smith about 1.5 acres around the diner to accommodate parking and construction equipment.
Smith could not be reached for comment, but the Smith family did post a statement on Oakley Diner’s Facebook page saying the Kamas Valley holds a special place in their hearts.
“We have been seeking additional opportunities to be more involved in the community, whether that is through athletics, city events, academics, you name it,” it said.
Even if there are diverging opinions about the development process, opinions about its outcome converge on one point. That is, locals KPCW interviewed seem to agree that Oakley should be Oakley, not Park City, Francis, Kamas or Coalville.
“I'll be thrilled if this thing somehow gets turned and a development is done that the people of Oakley will feel proud of,” Livingston said. “I'm just not that optimistic.”
But the mayor is. Some just don’t know yet. Across the board, city officials say they need to see Smith’s plans before they can say anything about them.
The planning commission meets April 11 at 6 p.m.
"The Kamas Valley holds a special place in our hearts. We cherish the memories we have made while growing up amidst the Marion mountains and raising our children in the fields of Oakley. For us, there really is no place like home. We have been seeking additional opportunities to be more involved in the community, whether that is through athletics, city events, academics, you name it. Recently, we have become the new founders of the Oakley Diner and we are thrilled! We will be working with the new owners, Deer Meadows Enterprises, to carry on the unmatched history and legacy of the Diner while providing you with the most delicious, traditional diner food around. We cannot wait to gather together and make new memories with visitors and locals like you. See you soon!"
— statement by the Smith family, Oct. 2022 on Facebook
