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Ogden City asks district to consider larger Adams CRA budget; board requests cash-flow projections
Summary
City economic development staff outlined a proposal to increase the Adams Community Reinvestment Area (CRA) investment pool and described potential redevelopment projects; the school board asked for a year-by-year cash-flow analysis before deciding whether to join the revised funding plan.
Ogden City officials told the Ogden City School District Board they want to increase the investment capacity of the Adams Community Reinvestment Area (CRA), citing recent private development interest and pending restoration projects in the downtown arts district.
David Sawyer, deputy executive director in Ogden City—ommunity and Economic Development, told the board the city is proposing to increase the CRA—udget from a previously projected $10,800,000 in increment to $30,500,000. "What we're proposing to do is amend the ADAM's CRA budget ... increase the budget from 10,800,000.0 to 30,500,000.0," Sawyer said.
Why it matters
The Adams CRA covers an area east of Washington Boulevard within the 9 Rails Arts District and has already supported projects city officials described as successful, including the Monarch development, Perry Lofts, Stonehill Homes and recent for-sale townhomes. The proposed change would give…
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