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RDA and council approve Adams CRA budget increase and tax‑increment participation changes; RDA backs 20‑Sixth apartment project with TIF support
Summary
The RDA and City Council on May 13 approved a major amendment to the Adams Community Reinvestment Area, increasing the budget cap to $28.5 million, revising interlocal participation with Weber County and the Ogden School District and authorizing tax‑increment support for a proposed market‑rate apartment project at 20 Sixth and Adams.
The Ogden Redevelopment Agency (RDA) and City Council moved forward May 13 with a major amendment to the Adams Community Reinvestment Area (CRA) and authorized TIF support for a new market‑rate apartment project near the Utah Power & Light building.
Sarah (city redevelopment staff) presented the RDA proposal to increase the Adams CRA budget cap from $10,800,000 to $28,500,000, while keeping the existing project term unchanged (expiration in 2044). Staff said the increased cap reflects a stronger project pipeline and higher projected private investment in the CRA: the original plan estimated roughly $95 million of private investment, and current projections put that figure at about $133 million.
As part of negotiated interlocal changes with Weber County and the Ogden School District, the taxing entities agreed to continue their participation percentages for the first ten years of the CRA and then reduce their…
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