Ogden RDA approves land transfer to developer to restore historic Exchange Building; city to contribute up to $1 million

The Ogden Redevelopment Agency voted April 14 to approve a land transfer and development agreement (LTDA) that would convey the Exchange Building and surrounding parcel to 600 Exchange LLC, a development company led by Thane Fisher, to rehabilitate the long-neglected historic property and lease office space to aerospace firm GMRE.

Jared Johnson, the agency’s presenter, told the board the proposed tenant — GMRE — would bring about 60 jobs initially and that the agency is asking for participation “not to exceed” $1 million from funds the city has already set aside for the project. Johnson described the building’s condition as dire, with daily break-ins, vandalism and wildlife issues, and said the goal is to stabilize and restore the exterior and historically significant elements.

The vote to adopt Resolution 2026-1 was 6–1. Board member Ritchie moved the measure and Vice Chair Graf seconded. Board members Lopez, Lindell, Myers, Ritchie, Vice Chair Graf and Chair Heyer voted in favor; Board member Washington voted no.

Why it matters: The Exchange Building — designed by Leslie Hodgson and tied to Ogden’s stockyards-era history — has been city-owned since 2013 and has seen repeated deterioration and costly abatement work. Supporters described the LTDA as the most realistic path to preserve the building rather than continuing to expend maintenance dollars without a viable reuse plan. Opponents and public commenters pressed the agency to build stronger taxpayer protections into the deal, including options short of outright transfer (lot-line adjustments, land lease, or deed covenants) and contractual safeguards against demolition by neglect.

What the agreement does: Under the LTDA, the developer would begin stabilization work within roughly 30 days of executing the agreement and the conveyance would occur no later than 30 days after the developer obtains required building permits. Staff estimated core-and-shell work could be complete within about 18 months of closing, though the developer and staff said further structural and environmental investigation will be required in the months ahead to confirm feasibility.

Developer and tenant details: Fisher Reagan Enterprises (operating as 600 Exchange LLC for this project) would perform the rehabilitation, with GMRE expected to occupy dedicated professional office space under a lease with an option to purchase over time. Thane Fisher said he and his team have experience restoring Leslie Hodgson buildings in Ogden and expressed confidence in the project’s feasibility, while acknowledging there will be a period of ‘‘digging in’’ to evaluate structural, seismic and environmental conditions.

Public comment and board concerns: Dozens of residents and preservation advocates spoke during public comment. Teresa Brownwell urged contractual protections to safeguard taxpayers, suggesting tools such as special warranty deeds, land leases or lot-line adjustments to allow the city to retain some control over the land if the developer fails to proceed. Board member Washington highlighted an LTDA clause that allows the developer to terminate the agreement if structural or environmental conditions render the project economically infeasible, and urged that the agency ensure the pre-conveyance investigative period is robust enough to surface deal-breaking conditions.

Administration’s response and next steps: Administration said the $1 million already set aside would be used for pre-conveyance stabilization and investigative work and that staff will pursue detailed structural and environmental studies during the 120–180 day design/permit phase before conveyance. Chief Mike Slater later reported a fire-department inspection of building occupants found only minor life-safety issues and issued standard 14-day notices for corrections.

The LTDA (Resolution 2026-1) passed 6–1; the agency required further study and performance timelines before final conveyance. If the developer declares the project infeasible under the LTDA’s terms, staff said the agency would report back to the board with findings and options.