CENTERVILLE — City officials have nearly everyone they need for the community development agreement (CDA) that will help their planned 14-screen megaplex and mixed-use process get a jump on life.

The agreement, which has already been approved by the county and other groups, would temporarily reduce the amount of new property taxes that the developers would have to pay the groups once the project gets going.

According to Centerville City Assistant Manager Blaine Lutz, the Davis School District is the only local taxing entity which has yet to sign the CDA.

“We’ve been working with them in recent weeks,” said Lutz. “If we can get this thing rolling, property value on the development land might increase as early as next year.”

The CDA has no effect on taxes currently being received by any of the involved groups, focusing only on new money generated by any value increases in the property.

Other taxing entities would receive 70 percent of any new taxes created by the project, while Centerville agreed to only accept 50 percent.

The goal of the CDA is to allow the developer to rechannel the money they saved on property tax into hastening the construction process and increasing the value of the land.

“It’s something that actually increases the amount of property tax the groups get,” said Lutz.

City officials also recently passed some rezoning that is part of the preparatory process for construction on the development.

“There are still final site plans that need to go through the planning commission,” said Lutz. “But this is the next step.”

The current concept for the project includes multi-family units, a shopping component that could include a Harmon’s grocery store, and a 80,000 square foot, 14-screen megaplex theater that Centerville City Manager Steve Thacker has said will be run by the Larry H. Miller group. Thacker has also said that group isn’t concerned about the construction of another theater in Station Park.

Developers hope to start construction by August.

jwardell@davisclipper.com