MIDA Board Meeting Highlights
June 26, 2026. Click here to view the meeting’s agenda.
This is an unofficial summary of the Board Meeting, conducted in person and virtually, produced by MIDA Communications staff. Minutes will be posted to the Utah Public Notice website once it is approved (https://utah.gov/pmn).
Board Action
Board members present: Chair Stuart Adams, Vice Chair Jerry Stevenson, Gage Froerer, Mark Shepherd, Mike Ostermiller, Gary Harter; and Erik Rowland.
Chair Adams opened the meeting by welcoming Erik Rowland, Wasatch County Council Chair, to the MIDA Board of Directors.
Unanimous Approval of meeting minutes from the April 24, 2026 MIDA Board meeting.
MIDA CFO Paula Eldredge Presentation of the Proposed Amended Annual Budget for Fiscal Year 2025-2026, Proposed Annual Budget for Fiscal Year 2026-2027, and MIDA's Fraud Risk Assessment.
MIDA followed the guidance of the State Auditor’s Office in performing the fraud risk assessment and is pleased to report MIDA’s risk of fraud is very low.
The reason for amending the budget for Fiscal Year 2025-2026 was the actual revenues and sources of funds in the Military Recreation Facility Project Area (Wasatch County) are more than MIDA forecasted in the original budget. These funds allowed MIDA to pay off the loans financing the Jordanelle Parkway and to accelerate the completion of other infrastructure projects in the project area. Chair Adams remarked this is a positive event to pay off the debt.
Eldredge noted that because the Stratos Project Area is new, it has no revenues coming in yet and minimal expenses, and the project area is not anticipated to be a material contributor to revenues or expenses in either FY 25-26 or FY 26-27.
With regard to the Proposed Annual Budget for Fiscal Year 2026-2027, Eldredge said, as a function of growth in project areas, she anticipates increased project area revenue, especially with property tax allocation, taxes and fees.
Chair Adams opened the Public Hearing for the Proposed Amended Annual Budget for Fiscal Year 2025-2026. NO public comment.
Chair Adams opened the Public Hearing for the Public Hearing for the Proposed Annual Budget for Fiscal Year 2026-2027. NO public comment.
Member Stevenson complimented Eldredge and staff for no audit findings, and the impact MIDA is having on the State of Utah.
Board Action
Unanimous Approval of Resolution 2026-12: A Resolution of the Military Installation Development Authority ('MIDA') Appointing the Executive Director for MIDA and Approving a Professional Services Agreement.
Unanimous Approval of Resolution 2026-13: A Resolution of the Military Installation Development Authority ('MIDA') Appointing Trustees and Members to Various MIDA Public Infrastructure District Boards and Development Review Committees.
MIDA Deputy Director Ariana Farber introduced a Ground Lease Agreement Between MIDA and the Utah State Armory Board ('State Armory Board') for Land Located at Camp Williams, as well as the related Ground Sublease Agreement Between MIDA and Lunar Resources, Inc., for the Sublease of Land Located on Camp Williams in the Utah National Guard Project Area.
Farber explained the availability of 17 acres at Camp Williams that was recently approved by the State Armory Board for development and that would provide revenue for future, critical National Guard infrastructure projects. She said MIDA is leveraging private capital to fund military readiness; otherwise the Guard is depending on military construction funding that can take many years to receive.
If the ground sublease agreement between MIDA and Lunar Resources, Inc. were to be approved, Lunar has planned a HELIX-1 manufacturing facility on the 17-acre site - a major aerospace and defense project that will strengthen Utah’s position in advanced manufacturing, pulsed-power technology, and military innovation.
The project is projected to create 420 new jobs, generate more than $188 million in wages over 10 years, and bring nearly $85 million in capital investment to Utah. During that same period, the state estimates the project will produce nearly $48 million in new state tax revenue.
The Utah Governor’s Office of Economic Opportunity approved a post-performance tax credit through the state’s Economic Development Tax Increment Financing program. Under the agreement, Lunar Resources may qualify for a 30% state tax rebate over 10 years if the company meets required performance benchmarks.
Board Action
Unanimous Approval of Resolution 2026-14: A Resolution of the Military Installation Development Authority ('MIDA') Approving a Ground Lease Agreement Between MIDA and the Utah State Armory Board ('State Armory Board') for Land Located at Camp Williams.
Unanimous Approval of Resolution 2026-15: A Resolution of the Military Installation Development Authority ('MIDA') Approving a Ground Sublease Agreement Between MIDA and Lunar Resources, Inc., for the Sublease of Land Located on Camp Williams in the Utah National Guard Project Area.
Falcon Hill Project Area Director Hilary Venable presented amendments to the Falcon Hill Project Area Development Standards and Guidelines.
Board Action
Unanimous Approval of Resolution 2026-16: A Resolution of the Military Installation Development Authority ('MIDA') Adopting Amendments to the Falcon Hill Project Area Development Standards and Guidelines Related to Digital Submissions, Site Plan Approval, Utility Specifications, and Regional Trail and Accessibility Standards.
Venable went on to discuss an expansion to the Roy Innovation Campus. She explained that the proposed site plan with required submittals was taken to the Development Review Committee earlier this month, and unanimously referred to the MIDA Board for approval. The proposed site sits on 16.9 acres, expands parking to the west and north and has designed complementary landscaping. The plans strategically address traffic flow in and out of the campus as well. Development partner SRDP plans to construct an office building on the site. MIDA’s planner and engineering consultants have confirmed that engineering, landscaping, and architecture meet Falcon Hill’s design standards.
Board Action
Unanimous Approval of Resolution 2026-17: A Resolution of the Military Installation Development Authority ('MIDA') Approving the Site Plan for the Roy Innovation Center Expansion Building #6 in the Falcon Hill Project Area.
Project Area Updates
Falcon Hill
Venable: “It is an honor to work with amazing partners. A lot is happening at Falcon Hill. If you haven’t had a chance to drive north, I’d recommend a Sunday drive. From the freeway, the infrastructure has progressed exponentially. UDOT has adjusted traffic patterns to the east so northbound travelers are driving on the new freeway. With that, we expect to see a lot of movement at Falcon Hill. In November, we approved grant funding for the Aerospace Museum. In just under a year, they have been able to utilize those funds to restore multiple displays, offer scholarships and fellowships, and fund STEM education programming, among many other things. It’s very exciting and we are grateful to support such a worthy program.”
Brett Christensen, the Enhanced Use Lease Manager for the Base, breaking ground on the new 1800 North Gate. He added that 1573 is under construction, and 770 people are moving into the first building while the vacated 1200 Series facilities are being taken down. Christensen said the 1200 Series facilities are World War II buildings that have been needed to be replaced and an original reason to partner with MIDA. “I want to recognize and thank MIDA for its partnership over the last 20 years,” said Christensen, adding that he hears regularly from the airmen who move here and say they’ve never experienced a military community like Utah.
SRDP’s Taylor Woodbury sited 6,000 active jobs at Falcon Hill currently. Click this link for a copy of the presentation in PDF format.
Mountain Veterans Program
Project Area Director Ashley Burr introduced Christine Russ, the newly-named executive director of the non-profit Mountain Veteran Program, and a former U.S. Army officer. Click this link for a copy of the presentation in PDF format.
Military Recreation Facility
Project Area Director Heather Kruse provided an overview of recent activity:
250 Active Building Permits throughout the Project Area (East side permitted through Wasatch County Land Use)
Salute to Service 2026 rooms on the books to date at the Grand Hyatt Deer Valley: 3,900 with an average room rate of $149
54 Military/Government Group and Conference Bookings for 2026
Q1 2027 rooms on the books: 2,000
We continue to host multiple site visits from military partners
Kruse shared meaningful letter from a Salute to Service guest family member
EXTELL Executive Vice President, Resort Development, Kurt Krieg, delivered a comprehensive Deer Valley East Village update. Click here for a copy of the presentation in PDF format.
Utah National Guard
Farber returned with an overview of the ribbon-cutting ceremony to celebrate the completion of the Beaver Armory Motor Pool Expansion.