Creation of Utah Fairpark Area Investment and Restoration District -- Status and purposes

(1) Under the authority of Utah Constitution, Article XI, Section 8, there is created the Utah Fairpark Area Investment and Restoration District. (2) The fairpark district is: (a) an independent, nonprofit, separate body corporate and politic, with perpetual succession; (b) a political subdivision of the state; and (c) a public corporation, as defined in Section 63E-1-102. (3) (a) The purpose of the fairpark district is to fulfill the statewide public purpose of encouraging and facilitating development within the fairpark district boundary to provide economic and other benefits to the area within the fairpark district boundary, surrounding areas, the region, and the state, including: (i) the development and construction of a qualified stadium and related facilities for a major league sports team; (ii) the development and construction of infrastructure to support a qualified stadium, associated uses, and recreational uses on land within the fairpark district boundary; (iii) the improvement and restoration of areas along the Jordan River within the fairpark district boundary for aesthetic and recreational purposes; (iv) coordinating with and supporting the fair park authority in the fair park authority's use of fair park land; and (v) other development on land within the fairpark district boundary. (b) The duties and responsibilities of the fairpark district under this chapter are matters of regional and statewide concern, importance, interest, and impact. (c) The fairpark district is the mechanism the state chooses to focus resources and efforts on behalf of the state, to oversee and manage development activities within the fairpark district boundary, and to ensure that the regional and statewide interests, concerns, and purposes described in this Subsection (3) are properly addressed from more of a statewide perspective than any municipality can provide.