City staff propose major Adams CRA budget increase to support Malachite housing project

Ogden Redevelopment Agency staff on Feb. 11 asked the city council and RDA board to approve a substantial amendment to the Adams CRA budget and described a proposed participation agreement to subsidize a market‑rate apartment project called Malachite.

The staff presentation said the Adams CRA project‑area investment pipeline has grown since the CRA was adopted in 2018, and that the estimated total investment in the area has risen from about $95 million to roughly $133 million. To support that pipeline the RDA proposed raising the CRA’s budget cap from $10,800,000 to $30,500,000 while keeping the project term unchanged through 2045. Staff also said they are seeking agreement among other taxing entities to continue full participation through 2028 and then reduce rates to 75% for Weber County and the Ogden School District and to 90% for the city after 2028.

Why it matters: the revised cap would make more tax increment financing (TIF) dollars available to support building renovation, new housing and centralized parking in the Adams area. Staff told the…