Nephi City began an internal service fund called the Community Reinvestment Agency (CRA) Fund in the 2024-25 Biennium. This fund contains the accounts for the Community Reinvestment Project Area. The Community Reinvestment Agency is the governing body which is made up of the City Council members. The project area was set up to provide economic development incentives to encourage a mid-tier hotel to locate to Nephi City. These efforts were successful and a mid-tier hotel located in the project area on the south side of the city. Since then, there have been many commercial developments that have located around the project area, contributing to the tax base for all governing entities.