The county says it could lose millions of dollars if Dakota Pacific Real Estate’s Kimball Junction neighborhood and its public-private partnership with the county is blocked.
County Chief Financial Officer Matt Leavitt ballparks the tax revenue the development would bring at $267,000 annually. He also estimates $4 million in annual rental income. He says that's a “minimum.”
Plans for an amphitheater, pedestrian crossing and developer-donated property promised as part of the county’s public-private partnership with Dakota Pacific would also likely be lost.
The controversial Kimball Junction project, which includes more than 800 units of housing — roughly half of it affordable — may have helped Summit County fulfill promises made in its state-mandated moderate income housing plan.
According to Leavitt’s assessment, failing to meet the plan’s requirements could jeopardize grants to bus rapid transit on state Route 224.
Leavitt says the county could also be forced to issue $55 million in bonds. He says that’s the standalone price of 165 affordable housing units and an underground parking garage included in the public-private partnership.
Staff also worry about jeopardizing funding to fix state Route 224, which the county and developer wager will come once the development is underway. The phases of the development are tied to various traffic improvement approvals.
Finally, the county and Dakota Pacific paused litigation over a 2023 state bill seeking to greenlight the development before the council’s vote. Summit County now says overturning the vote could restart the lawsuit and drive up legal costs.
The Summit County Council voted 4-1 Dec. 18 to approve Dakota Pacific’s construction and cement the public-private partnership.
Five days later, seven county residents pushed back with a petition for a referendum on the decision. Organizers must now garner almost 5,000 signatures to put the controversial development to a countywide vote in 2025.
The top concern expressed by residents at public hearings has been traffic. They say gridlock should be addressed before building any additional housing in Kimball Junction, not during or after construction.
