NORTH SALT LAKE — Though there may be a few surprises in store for North Salt Lake’s planned Eaglewood Village, there may also be the silence of an empty construction site.

After being stalled for a full year, Compass Development principal Ben Lowe has said that his group is working on some options that they hope will jump-start the planned development. Though the group doesn’t want to release the details of the possible arrangements until they see whether or not they go through, Lowe admits that further construction will be delayed until those plans become final.

“There are some interesting things coming together, but you don’t want to move ahead with too-little financing,” said Lowe. “It’s obviously a tough economy.”

North Salt Lake is also continuing to move ahead with some of the details related to a Community Development Agreement (CDA) they formed early last year to offer some financial assistance to Eaglewood Village.

Though the county has already agreed to take part in the CDA, in which city and county agencies agreed to forego part of the property tax increment they would make off of a new development, the Davis County School District has still made no official response.

According to North Salt Lake City Manager Collin Wood, the school district has privately expressed little interest in joining the CDA. Since the district receives about half of the property tax increment for a given area, their absence would take a big bite out of any help the CDA could offer to Eaglewood.

“We’re not sure,” said Wood. “The whole thing might flounder.”

Though the official groundbreaking for the development was in December 2007, the project has been dealing with liquidity issues since the CDA was originally proposed last spring in the hopes of giving Eaglewood a break on certain fees.

Last fall, North Salt Lake agreed to waive their original requirement of a second year’s worth of emergency debt service fund at the recommendation of financial consultant Jason Burningham. The city would need to tap into this fund only if Compass Development is no longer able to make its debt service payments.

jwardell@davisclipper.com