Auditing Midvale
The Ledger's review of Midvale's budgets, audits, debt and redevelopment money.
The full audit section: stories by subject, key figures and records →
Background
Auditing Midvale: What the city's budget, audit and debt records show
Auditing Midvale follows the city's money through its own budgets, audits and redevelopment records. Midvale adopted a $24,179,095 General Fund budget for fiscal 2027. At June 30, 2025, the city reported $69,274,119 in long-term obligations and no general obligation bonds.
Read the explainer →Latest update · October 16, 2026
Proposed $250,000 zero-interest Midvale loan would release half before construction milestones
A term sheet before the Redevelopment Agency of Midvale City on Sept. 15, 2026 proposes a $250,000, seven-year, 0% loan to Post Exchange, LLC, doing business as The Vale. Half would be paid at signing, and the schedule says disbursements are not tied to construction or tenant improvement milestones.
Timeline
- Proposed $250,000 zero-interest Midvale loan would release half before construction milestones
- Split Midvale redevelopment board puts its $250,000 Main Street loan behind a bank's
- Midvale adopted a public safety tax increase projected at $78,814, below the $848,964 it first noticed
- Midvale redevelopment board raised Jordan Bluffs reimbursement cap to $53.3 million plus interest
Latest updates
- Politics
Proposed $250,000 zero-interest Midvale loan would release half before construction milestones
A term sheet before the Redevelopment Agency of Midvale City on Sept. 15, 2026 proposes a $250,000, seven-year, 0% loan to Post Exchange, LLC, doing business as The Vale. Half would be paid at signing, and the schedule says disbursements are not tied to construction or tenant improvement milestones.
- Politics
Split Midvale redevelopment board puts its $250,000 Main Street loan behind a bank's
The Redevelopment Agency of Midvale City voted 3-2 on Sept. 1, 2026 to subordinate its first-lien deed of trust on a $250,000 adaptive reuse loan to a Zions Bank loan of up to $1.29 million, according to minutes in the board's Sept. 15 packet.
- Politics
Midvale adopted a public safety tax increase projected at $78,814, below the $848,964 it first noticed
The Midvale City Council in August 2026 unanimously set a public safety property tax rate of 0.000266, projected to raise $78,814 more a year. In May, the council's packet had described an increase to an estimated 0.000474 that would have raised $848,964.
- Politics
Midvale redevelopment board raised Jordan Bluffs reimbursement cap to $53.3 million plus interest
In June 2025 the Redevelopment Agency of Midvale City unanimously approved a second amendment to the Jordan Bluffs tax increment reimbursement agreement. It raises the developer's reimbursement cap from $40,915,480 to $53,300,000, plus accrued interest, and sets conditions tied to development value and a parcel for the city's Public Works facility.