Document Ogden_doc_3bf9dfc8f9

1 Ogden Redevelopment Agency Meeting: June 20, 2017 TRACKLINE ECONOMIC DEVELOPMENT PROJECT AREA - Proposed Amendment of Project Area Plan and Budget Action: Adopt or Not Adopt Resolution Executive Summary The Board will consider a Resolution authorizing amendments to the Trackline Economic Development Area Plan and budget. The proposal is to extend the length of the Trackline Economic Development Area an additional twelve (12) years from the original twenty (20) year period to a total of a thirty-two (32) year period. Extending the project area to 2045 will allow the project to generate an additional $5.3 million in tax increment for use in future development for a total of more than $18 million. The Administration is proposing to collect 100% of the tax increment which amounts to an additional $8 million for the Agency. The Taxing Entity Committee (TEC) reviewed and unanimously approved the proposal. Background January 1989 The RDA created the Golden Spike Redevelopment Project Area. City staff hoped to facilitate commercial and industrial redevelopment in the project area. The project did not come to fruition and the City has never collected tax increment from the project area. The Golden Spike RDA was schedule to expire January 2021. 2012-2013 CED staff worked with a Developer to develop a light manufacturing, industrial and business park in the Golden Spike RDA. April 23, 2013 The RDA Board adopted a Resolution terminating the Golden Spike Redevelopment Area. The Board then adopted a Resolution creating a Plan and Budget for the Trackline Economic Development Project Area. ---PAGE BREAK--- 2 Ogden Redevelopment Agency Meeting: June 20, 2017 Trackline Economic Development Project Area Plan and Budget The Plan and Budget are summarized as follows: Project Area Characteristics  122.48 acres consisting of 121 parcels located between 24th Street and Middleton Road, and railroad tracks and G Avenue (See Attached Map)  Parcels are currently zoned for Light Manufacturing, Manufacturing, Community Commercial and Single Family Residential  Project will be Phased: o Phase I(A) – 70 Acres (A & B) of manufacturing and light industrial space. No impact to residential properties o Phase I(B) – 28 Acres (A & B) of manufacturing, light industrial, commercial, and flex space. No impact to residential properties o Phase II – 23 Acres. Removal of some or all residential space Impact of Development  Alteration of B Avenue to facilitate access to the development  Long term impact to 80 residences and 5 businesses located within the proposed Project Area CS Note: This is a Developer-driving project. Because there is no eminent domain involved, any homes or businesses will be purchased by a Developer from willing sellers. Objectives for Economic Development  Encourage and assist economic development to create additional jobs within the community  Remove impediments to land disposition and development through assembly of land, improved public utilities and infrastructure, and new facilities ---PAGE BREAK--- 3 Ogden Redevelopment Agency Meeting: June 20, 2017  Remove environmental deficiencies, irregular lots, improper drainage, overcrowding, underutilization of real property  Support for appropriate architectural, landscape and urban design principles  Promote and market the Project Area to complimentary businesses and industries that will enhance the economic base of the City  Provide updated infrastructure improvements  Strengthen the property and income tax base  Create better traffic and pedestrian circulation, reduce traffic hazards, reduce congestion, and promote air quality  Create compatible relationship among land uses and a viable center of economic activity Design Objectives  Provide and attractive urban environment the blends with adjoining areas  Provide open spaces and take advantage of natural setting  Provide appropriate landscaping and parking layouts Purpose for the EDA The EDA will  Enhance the economic base and the quality of life of the City, providing  Provide updated infrastructure  Conform to the City’s General Plan  Create 100-500 new permanent jobs  Create temporary construction jobs Selection of Private Developers Private Developers for the Project Area will be selected through Requests for Proposal (RFP), private negotiations or some other method of identification Other parties, including current property owners, with the skill, experience and financial resources may also become a developer in the Project Area. ---PAGE BREAK--- 4 Ogden Redevelopment Agency Meeting: June 20, 2017 Reasons for Selection of Project Area  There is room for growth and expansion for the businesses  It is relatively close to downtown  It has freeway access, railroad access and access to Weber River  There is an opportunity to transform an underutilized section of City Tax Incentives to Private Entities The tax increment from generated by the project will be used to replace and/or construct public infrastructure improvements, off-site improvements, and other improvements that the Agency may approve. Project Area Budget (Original) The original Budget estimated total available tax increment generated by the specific projects in the EDA over its proposed 20-year life would be approximately $13 million to be budgeted as follows: Development Incentive $ 7,000,000 Housing $ 2,602,780 RDA Administration $ 650,695 Uncommitted $ 2,760,426 $13,013,901 Per agreement with the TEC, the Agency could collect anything up to $10,253,475 for the project. Any tax increment over that amount passes through to the other taxing entities. Historic Register There is one existing historical building included in the Project Area. The Agency will take appropriate action to utilize and protect the character of the building. ---PAGE BREAK--- 5 Ogden Redevelopment Agency Meeting: June 20, 2017 2013-2017 Agency and Ogden City staff have worked jointly with a private developer to construct the Ogden Business Exchange (OBE), a 51-acre master planned Business Park located within the larger Trackline Project Area. The work completed for this project includes construction of a new road, reconstruction of an existing road, installation of new utilities including electrical lines and a 24” water main that will serve the entire West Ogden area. The OBE is successfully attracting companies associated with the outdoor industry. May 2, 2017 The Board office received an Administrative Transmittal requesting the Board extend the Trackline Economic Development Area an additional twelve (12) years from the original twenty (20) year period to a total of a thirty-two (32) year period through 2045. The Administration is requested a change to the budget to allow the Agency to collect 100% of the tax increment from the extended project area. May 8, 2017 The Taxing Entity Committee met to review and consider the proposal to extend the Project Area and amend the budget. The TEC unanimously approved the proposal. May 9, 2017 The Board held a work session to review the proposal to amend the Trackline Economic Development Area Plan and Budget. May 16, 2017 The Board set a public hearing on a Resolution authorizing an amendment to the Trackline Economic Development Area Plan and Budget for June 20, 2017. Proposal The Administration has proposing to amend the Trackline Economic Development Project Area Plan and Budget to extend the tax increment period an additional twelve (12) years, changing the termination date to ---PAGE BREAK--- 6 Ogden Redevelopment Agency Meeting: June 20, 2017 2045. The extension would allow the Agency to collect an additional $5.2 million in tax increment for a total of $18,253,475. In addition to extending the time for collecting tax increment, the Administration is also proposing to collect 100% of the $18 million budget, which would be an additional $8 million for the Agency. The current agreement with the TEC limits the Agency’s tax increment collection to $10.25 million. Questions 1. Please review the Administration’s proposal for extending the tax increment period and increasing the budget for the Trackline EDA. 2. Please review the Taxing Entity Committee’s recommendation. Review their comments and reasons for the recommendation. 3. Please review any public comments received on the Draft Plan and budget. Council Staff Contact: Janene Eller-Smith, [PHONE REDACTED] ---PAGE BREAK--- OGDEN CITY REDEVELOPMENT AGENCY TRANSMITTAL Date Received by Admin: Mark Johnson, CAO Date Sent to Board: DATE: May 1, 2017 TO: Ogden City Redevelopment Agency Board FROM: Tom Christopulos, CED Director TC SUBJECT: Trackline Economic Development Project Area Plan and Budget Amendment STAFF CONTACT: Brandon Cooper, CED Deputy Director BC LEGAL CONTACT: Melven Smith, Assistant City Attorney MS REQUESTED TIMELINE: As soon as convenient RECOMMENDATION: Administration recommends approval of a resolution amending the Trackline EDA Project Area Plan and Budget DOCUMENTS: Resolution; slides Background The Trackline Economic Development Project Area Plan (the “Plan”) is an “economic development project area plan” as defined under the Community Development and Renewal Agencies, Title 17C, Utah Code, as amended. The Plan was approved by the Agency Board pursuant to Resolution No. 2013-8 on April 23, 2013 and was subsequently adopted by the Ogden City Council pursuant to Ordinance No. 2013-20 and ordered published by the Council on April 23, 2013. Since the adoption of the Plan, Agency staff and Ogden City staff have worked jointly with a private developer to construct the Ogden Business Exchange - a 51-acre master planned Lifestyle Business Park. Included in this work is the clearing of land; removal of debris and junk; the crushing of ~50,000 tons of concrete; the construction of Stockman Way (new road) and the reconstruction of Exchange Road (existing road); installation of all new utilities, including a 24” waterline; installation of a new electrical power backbone; the remediation of petroleum and heavy metal impacts to the soil; and the general preparation of land to create sellable lots. Because of unforeseeable conditions associated with the above referenced work, it has become necessary to amend the Plan and Budget to allow for an extension to the collection of tax increment. This proposed extension would allow the Agency to collect tax increment from 2013 to 2045 with a maximum collectable amount of $18,253,475, ---PAGE BREAK--- instead of the approved duration of 2013 to 2033 and the approved maximum collectable amount of $10,253,475. This is an increase of collectable tax increment of $8,000,000. Benefit The proposed extension will allow additional revenue (tax increment) to be collected over the extended period (up to 2045). This revenue is critical in the repayment of the debt associated with the development of the project. Additionally, the developer will be able to obtain additional financing using the tax increment as security, which will provide much-needed funds to finish the project and get the lots into sellable condition. Risk Without an approval of the proposed request to amend the Plan and provide for the collection of additional tax increment, the Ogden Business Exchange project would likely remain unfinished. Such condition would jeopardize the ability of the developer or Agency to sell the property at maximum value. Additionally, without revenue from tax increment and land sales, repayment of the debt owned by the developer and Agency would be jeopardized as well. Recommendation The Administration recommends the Board approve the resolution for the amendment of the Trackline Economic Project Area Plan and Budget and the subsequent collection of tax increment up to $18,253,475 between 2013 and 2045. For further information, please contact Brandon Cooper at (801) 629-8947. ---PAGE BREAK--- RESOLUTION RESOLUTION OF THE REDEVELOPMENT AGENCY OF OGDEN CITY AMENDING THE TRACKLINE ECONOMIC DEVELOPMENT PROJECT AREA BUDGET SUCH THAT THE AGENCY WILL RECEIVE TAX INCREMENT REVENUE FOR THE PERIOD UNTIL AND INCLUDING TAX YEAR 2045 WITH A MAXIUMUM AMOUNT COLLECTABLE NOT TO EXCEED $18,253,475. WHEREAS, the Ogden City Redevelopment Agency (“Agency”) is a separate public body corporate and politic, duly and regularly created, established, organized and existing under and by virtue of the Constitution and laws of the State of Utah; and WHEREAS, the Agency operates and is authorized to transact business and exercise its powers under and pursuant to the Limited Purpose Local Government Entities – Community Reinvestment Agency Act, Title 17C, Utah Code Annotated 1953, as amended (the “Act”), previously known as the Utah Redevelopment Agencies Act; and WHEREAS, the Trackline Economic Development Project Area Plan (the (“Plan") was adopted by the Agency pursuant to Resolution. No. 2013-8 which was passed and approved on April 23, 2013, and such Plan was subsequently adopted by the Ogden City Council pursuant to Ordinance No. 2013-20 on April 23, 2013; and WHEREAS, as permitted under the Act, the Plan provides for the Agency to receive tax increment revenue from the Trackline Economic Project Area (the “Project Area") pursuant to the Project Area Budget (the “Budget") which was adopted by the Agency concurrent with the Plan pursuant to Resolution No. 2013-8 on April 23, 2013; and WHEREAS, it is necessary to amend the Budget to extend the Agency's collection of tax increment revenue from the Project Area until and including tax year 2045 with a maximum amount collectable not to exceed $18,253,475; and WHEREAS, in order to amend the Budget as proposed, as permitted by Section 17C-3- 206 of the Act, the Agency has opted to follow the Budget amendment procedures set forth under Section 17C-3-205 of the Act; and WHEREAS, Section 17C-3-205(b) of the Act requires that the Agency obtain approval of the Taxing Entity Committee (the "Committee") to the same extent the Agency was required to obtain the consent of the Committee for the Budget as originally adopted; and WHEREAS, the Committee is authorized to approve amendments to the Budget including the amounts of tax increment revenues to be paid and the period of time tax increment revenues are paid to the Agency pursuant to Section 17C-1-402(4)(b)(iv) of the Act; and 2017-3 ---PAGE BREAK--- WHEREAS, pursuant to TEC Resolution No. on May 8, 2017, the Committee determined that it would be of benefit to the public and the taxing entities for the Agency to continue to receive tax increment revenues from the Project Area for the purposes set forth in the Act until and including tax year 2045 with a maximum amount collectable not to exceed $18,253,475; and WHEREAS, pursuant to the Act, the Agency has held a public hearing on the Budget amendment and at that public hearing allowed public comment on the Budget amendment and received all written and heard all oral objections to the Budget amendment; and WHEREAS, the Agency has complied with all requirements of the Act pursuant to the amendment of an economic development project area budget. NOW, THEREFORE, it is hereby resolved by the Ogden City Redevelopment Agency as follows: Section 1. Terms defined in the forgoing recitals shall have the same meaning when used in the remaining sections of this Resolution. Section 2. Pursuant to Section 17C-3-205 of the Act, the Committee hereby consents and approves amendment of the Budget as follows: Receipt by the Agency of tax increment revenues from the Project Area from annual taxes collected shall extend through tax year 2045 with a maximum amount collectable not to exceed $18,253,475, described in the amended budget attached hereto as Exhibit and Said tax increment revenues shall be used to further the purposes described in the Act, including paying for debt service and other Agency contractual obligations related to the Plan and Project Area. Section 3. This Resolution shall go into effect upon Agency approval of the amendments to the Budget set forth herein and pursuant to the properly noticed public hearings and other requirements as set forth in the Act. ---PAGE BREAK--- IN WITNESS WHEREOF, the Redevelopment Agency Ogden City has approved, passed and adopted this Resolution this day of 2017. Marcia White, Chair ATTEST: APPROVED AS TO FORM: Legal Date MS 5/9/17 ---PAGE BREAK--- EXHIBIT Amended Project Area Budget ---PAGE BREAK--- TRACKLINE ECONOMIC DEVELOPMENT PROJECT AREA DRAFT 4/28/2017 REDEVELOPMENT AGENCY OF OGDEN AMENDED PROJECT AREA BUDGET - CUMULATIVE BASE ALLOCATED % YEAR CUMULATIVE OF TOTAL 2013 2013 - 2045 TAX INCREMENT PROJECT REVENUES Property Tax $200,985 $6,431,520 Base Year Taxable Value $11,344,239 Projected Tax Increment RDA TOTAL Agency Eligible Project Area Expenditures $0 $13,690,105 75% Housing $0 $3,650,695 20% RDA Administration $0 $912,675 5% Total Tax Increment $0 $18,253,475 100% TOTAL PROJECTED TAX INCREMENT REVENUES $0 $18,253,475 PROJECT EXPENDITURES PROJECTED BUILDING & CAPITAL EXPENSE/COSTS Land Acquisition $0 $6,600,000 Public & Special Improvements Benefiting the Project $0 $12,300,000 Building Improvement Costs $0 $30,500,000 Capital Equipment Expense $0 $4,700,000 TOTAL BUILDING, CAPITAL AND RELATED EXPENSE/COSTS $0 $54,100,000 EXPENDITURES REIMBURSABLE FROM TAX INCREMENT $108,200,000 Administration $0 $912,675 5% Housing $0 $3,650,695 20% Total tax increment for project area improvements and infrastructure benefiting the project area, in & outside the project area & other eligible expenditures, including but not limited too; land acquisition, loans, grants, incentives to private and public entities, cost of financing such as interest, issuance costs & reserves. $0 $13,690,105 75% TOTAL EXPENDITURES REIMBURSABLE FROM TAX INCREMENT $0 $18,253,475 100% TOTAL PROJECTED PROJECT EXPENDITURES $0 $72,353,475 Notes: Proposed Amended Budget extends the approved budget term 12 years to 2045. The amount of tax increment received by the Agency increases $8 million to not to exceed $18,253,475. If the $18,253,475 is received by the Agency prior to 2045, the project sunsets. ---PAGE BREAK--- TRACKLINE ECONOMIC DEVELOPMENT PROJECT AREA DRAFT 4/28/2017 REDEVELOPMENT AGENCY OF OGDEN AMENDED PROJECT AREA BUDGET - CUMULATIVE BASE ALLOCATED % YEAR CUMULATIVE OF TOTAL 2013 2013 - 2045 TAX INCREMENT PROJECT REVENUES Property Tax $200,985 $6,431,520 Base Year Taxable Value $11,344,239 Projected Tax Increment RDA TOTAL Agency Eligible Project Area Expenditures $0 $13,690,105 75% Housing $0 $3,650,695 20% RDA Administration $0 $912,675 5% Total Tax Increment $0 $18,253,475 100% TOTAL PROJECTED TAX INCREMENT REVENUES $0 $18,253,475 PROJECT EXPENDITURES PROJECTED BUILDING & CAPITAL EXPENSE/COSTS Land Acquisition $0 $6,600,000 Public & Special Improvements Benefiting the Project $0 $12,300,000 Building Improvement Costs $0 $30,500,000 Capital Equipment Expense $0 $4,700,000 TOTAL BUILDING, CAPITAL AND RELATED EXPENSE/COSTS $0 $54,100,000 EXPENDITURES REIMBURSABLE FROM TAX INCREMENT $108,200,000 Administration $0 $912,675 5% Housing $0 $3,650,695 20% Total tax increment for project area improvements and infrastructure benefiting the project area, in & outside the project area & other eligible expenditures, including but not limited too; land acquisition, loans, grants, incentives to private and public entities, cost of financing such as interest, issuance costs & reserves. $0 $13,690,105 75% TOTAL EXPENDITURES REIMBURSABLE FROM TAX INCREMENT $0 $18,253,475 100% TOTAL PROJECTED PROJECT EXPENDITURES $0 $72,353,475 Notes: Proposed Amended Budget extends the approved budget term 12 years to 2045. The amount of tax increment received by the Agency increases $8 million to not to exceed $18,253,475. If the $18,253,475 is received by the Agency prior to 2045, the project sunsets. ---PAGE BREAK--- TRACKLINE EDA ---PAGE BREAK--- ---PAGE BREAK--- • 51-acre Master Planned Lifestyle Business Park • Redevelopment of abandoned Union Stockyards • State-of-the-Art infrastructure and access • 2-miles of walking/biking trails • Access to regional trail network • Access to Weber River for fishing, kayaking, picnicking • Low-Impact-Design (LID) standards of construction • Historical preservation of site elements and the beautiful Exchange Building ---PAGE BREAK--- 1938 ---PAGE BREAK--- 1967 ---PAGE BREAK--- 2007 ---PAGE BREAK--- 2013 ---PAGE BREAK--- ---PAGE BREAK--- 2016 ---PAGE BREAK--- ---PAGE BREAK--- ---PAGE BREAK--- ---PAGE BREAK--- CURRENT EXPENDITURES BY DEVELOPER & OGDEN CITY PROPERTY ACQUISITION: $6.6MM SITE IMPROVEMENTS: $7.9MM DESIGN/DOCUMENTATION: $1.2MM 24” WATERLINE: $3.2MM ---PAGE BREAK--- APPROVED TERM AND BUDGET Term: 2013 to 2033 Budget: $10,253,475 PROPOSED AMENDMENT Term: 2013 to 2045 (extended by 12 yrs) Budget: capped at $18,253,475 (extended by $8mm) (WHICHEVER OCCURS FIRST) ---PAGE BREAK--- MARCH 13, 2017 – Informative TEC Meeting APRIL 20, 2017 – State School Board Committee Meeting MAY 5, 2017 – State School Board Regular Meeting MAY 8, 2017 – Voting TEC Meeting MAY 9, 2017 – Ogden City RDA Board Action ---PAGE BREAK--- THANK YOU!! Brandon Cooper Deputy Director Community & Economic Development [EMAIL REDACTED] ---PAGE BREAK--- - 1 - RESOLUTION RESOLUTION OF THE REDEVELOPMENT AGENCY OF OGDEN CITY ADOPTING THE ECONOMIC DEVELOPMENT PROJECT AREA PLAN AND BUDGET DATED APRIL 23, 2013 AND ENTITLED “TRACKLINE ECONOMIC DEVELOPMENT PROJECT AREA PLAN AND BUDGET” WHEREAS, the Redevelopment Agency of Ogden City (the “Agency”) was created to transact the business and exercise the powers provided for in the former Utah Neighborhood Development Act, the former Utah Redevelopment Agencies Act, the current Utah Community Development and Renewal Agencies Act and any successor law or act (the “Act”); and WHEREAS, Ogden City has a planning commission and has adopted a general plan pursuant to applicable law; and WHEREAS, the Act provides that an Agency may exercise its powers for the purpose of urban renewal, economic development and community development as such terms are defined in the Act; and WHEREAS, the Agency adopted Resolution No. 2012-16 authorizing the preparation of a draft economic development project area plan and budget to improve property in the vicinity of B Avenue and Exchange Road (“Trackline Economic Development Project Area”) for the purpose of facilitating growth and establishment of future manufacturing, distribution, and light industrial facilities; and WHEREAS, pursuant to Section 17C-3-1 03 of the Act, the Agency has: prepared a draft of the proposed Trackline Economic Development Project Area Plan and Budget (the "Draft Plan and Budget"); made a copy of the Draft Plan and Budget available to the public during normal business hours; and provided notice of the Draft Plan and Budget as required by the Act; and WHEREAS, pursuant to the Act, the Agency has held a public hearing on the Draft Plan and Budget and at that plan hearing allowed public comment on the Draft Plan and Budget and whether the Draft Plan and Budget should be revised, approved or rejected, and received all written and heard all oral objections to the Draft Plan and Budget; and WHEREAS, before holding the plan hearing, pursuant to the Act, the Agency provided for the State Board of Education and each taxing entity that levies a tax on property within the Trackline Economic Development Project Area an opportunity to consult with the Agency regarding the Draft Plan and Budget; and WHEREAS, after holding the plan hearing, the Agency considered the oral and written objections to the Draft Plan and Budget, and whether to revise, approve or reject the Draft Plan and Budget. 2013-8 ---PAGE BREAK--- - 2 - NOW, THEREFORE, BE IT RESOLVED by the Redevelopment Agency of Ogden City: Section l. Adoption of Project Area Plan and Budget. It has become necessary and desirable to adopt the economic development project area plan and budget entitled “Trackline Economic Development Project Area Plan and Budget,” dated April 23, 2013 as described and set forth in Exhibit A (“Project Area Plan and Budget”). Said Project Area Plan and Budget is hereby designated as the official Project Area Plan and Budget for the Trackline Economic Development Project Area. The Agency hereby officially adopts the Project Area Plan and Budget by Resolution and shall submit the Project Area Plan and Budget, together with a copy of this Resolution, to the City Council of Ogden City requesting that the Project Area Plan and Budget be adopted by ordinance of the legislative body of Ogden City in accordance with the provisions of the Act. Section 2. As set forth in the Project Area Plan and Budget, the Agency has elected to receive 100% of the tax increment monies from the Project Area for a period not to exceed twenty (20) years; however, the applicable project area budget shall be the project area budget or amended project area budget that is approved and adopted pursuant to applicable provisions of law. Section 3. This Resolution shall take effect immediately upon adoption, and pursuant to the provisions of the Act, the Project Area Plan and Budget shall become effective upon adoption by Ordinance of the legislative body of Ogden City. ---PAGE BREAK--- - 3 - IN WITNESS WHEREOF, the Redevelopment Agency of Ogden City has approved, passed and adopted this Resolution this day of 2013. Redevelopment Agency Board Chair ATTEST: APPROVED AS TO FORM: _BF 4/19/13 Legal Date ---PAGE BREAK--- - 4 - EXHIBIT Project Area Plan and Budget ---PAGE BREAK--- Ogden City Redevelopment Agency Trackline Economic Development Project Area – Project Area Plan and Budget Prepared by the Ogden City Redevelopment Agency staff – Final April 23, 2013 2013 ---PAGE BREAK--- Table of Contents SECTION 1: DESCRIPTION OF ECONOMIC DEVELOPMENT PROJECT AREA SECTION 2: PROJECT AREA CHARACTERISTICS AND HOW THEY WILL BE AFFECTED BY ECONOMIC SECTION 3: STANDARDS THAT WILL GUIDE ECONOMIC DEVELOPMENT…………………………………6 SECTION 4: HOW THE PURPOSES OF THE STATE LAW WILL BE ATTAINED BY ECONOMIC SECTION 5: HOW THE PLAN IS CONSISTENT WITH THE COMMUNITY’S GENERAL PLAN…………………9 SECTION 6: DESCRIPTION OF JOB SECTION 7: DESCRIPTION OF SPECIFIC SECTION 8: WAYS IN WHICH PRIVATE DEVELOPERS WILL BE SELECTED TO UNDERTAKE THE ECONOMIC SECTION 9: REASONS FOR THE SELECTION OF THE PROJECT SECTION 10: DESCRIPTION OF THE PHYSICAL, SOCIAL, AND ECONOMIC CONDITIONS EXISTING IN THE SECTION 11: DESCRIPTION OF TAX INCENTIVES OFFERED TO PRIVATE ENTITIES……………………...12 SECTION 12: ANALYSIS OF ANTICIPATED PUBLIC BENEFIT TO BE DERIVED FROM THE PROJECT SECTION 13: NATIONAL REGISTER OF HISTORIC PLACES OR STATE REGISTER………………………...14 SECTION 14: PROVISIONS FOR AMENDING THIS ECONOMIC DEVELOPMENT APPENDIX A: MAP & LEGAL DESCRIPTION OF THE PROJECT AREA…………………………APPENDIX A APPENDIX B: OGDEN CITY LAND USE B APPENDIX C: LAYOUT OF PRINCIPAL STREETS………………………………………………APPENDIX C APPENDIX D: SITE D ---PAGE BREAK--- 1 Final Introduction In conformance with the requirements of Utah Code Annotated 17C-3-101 et seq, the Business Development Staff of Ogden City, in conjunction with the Agency, have prepared this Economic Development Project Area Plan and Budget for the project area located within the general vicinity of B Avenue and Exchange Road in Ogden City, Utah. The specific boundaries, reasons for selecting these boundaries, and proposed development that will occur within these boundaries, are all set forth in this document. The Board of Directors of the Ogden City Redevelopment Agency has determined that the project area meets the criteria for creation of an Economic Development Area (EDA) and has approved the creation of this project plan. The area offers the opportunity to accommodate significant new development that will attract private capital investment, contribute to the tax base, create jobs, and otherwise contribute to the economic vitality and prosperity of the community. The overarching goal of contributing to the public good is met in these and other benefits that will arise from the EDA. Creation of the EDA will allow for certain public investments that will induce participation and investment by the private sector, while at the same time allowing for a cohesive development planning process that incorporates a physical and programmatic vision for the city’s future in this key location of the community. This EDA plan is the first step in establishing this opportunity for public sector participation in the future growth of the community in this project area. ---PAGE BREAK--- 2 Final Section 1: Description of Economic Development Project Area Table 1: Property Description Owner Parcel ID Acres Utah Smith LC 03-005-0003 3.95 Utah Smith LC 03-005-0004 0.22 Burbidge Concrete Pumping Inc 14-010-0025 2.63 National Federal Lands Conference 14-010-0049 14.52 Southern Pacific Transportation Company 14-011-0006 1.05 Center Pacific Railway Company 14-011-0007 2.46 Griffin Land & Livestock LLC 14-013-0006 2.14 Weber County 14-014-0003 7.60 Utah Smith LLC 14-014-0004 3.14 FW Albion Laboratories Inc 14-014-0006 0.28 FW Albion Laboratories Inc 14-014-0007 0.44 Ogden City Corp 14-014-0008 0.11 Starkey Grain Company Inc 14-014-0009 0.31 Wasatch Drywall Inc 14-014-0010 0.14 Wall, John O & Ilene R Wall 14-014-0011 0.18 State Road Commission of Utah 14-014-0013 0.37 Reardon Leasing LLC 14-014-0015 1.39 Land N Sea LLC 14-014-0017 7.18 National Federal Lands Conference 14-014-0019 12.15 HCI Dyce Chemical Inc 14-014-0020 5.85 Ogden City Corp 14-014-0021 0.57 Tersteeg, Pennie S 14-015-0001 0.05 Moulton, Brian 14-015-0002 0.11 Moulton, Brian 14-015-0003 0.07 James Spencer Bean Trust 14-015-0005 0.08 James Spencer Bean Trust 14-015-0007 0.07 Lasure, David & WF Bonnie L 14-015-0009 0.08 Lasure, David & WF Bonnie L 14-015-0011 0.06 Bighorn Inc 14-015-0013 0.10 HC & Betty P Massey Trust 14-015-0017 0.33 James Spencer Bean Trust 14-015-0019 0.10 James Spencer Bean Trust 14-015-0020 0.08 Corey Malan Construction Inc 14-015-0022 0.49 Ogden City Corp 14-015-0023 0.09 Ogden East View LLC 14-015-0024 0.32 Bachmann Properties I LLC 14-016-0001 0.45 ---PAGE BREAK--- 3 Final Bachmann Properties I LLC 14-016-0002 0.47 Patterson, Kim & WF Sandra L 14-016-0003 0.35 Johnson, Farren B 14-016-0004 0.12 Patterson, Kim & WF Sandra L 14-016-0005 0.35 C Avenue LLC 14-016-0006 0.37 Sanchez, Theodore M 14-016-0007 0.13 Garcia, Pedro 14-016-0008 0.13 McNamara, James 14-016-0009 0.13 Fraga, Edward 14-016-0010 0.27 Fiber Corporation 14-016-0017 21.04 Burbidge Concrete Pumping Inc 14-016-0018 0.44 Garcia, Pedro 14-016-0020 0.10 Johnson, Farren B 14-016-0021 0.12 C Avenue LLC 14-016-0022 0.37 Ogden City Corp 14-016-0023 0.15 Estate of Robert J Parent 14-016-0024 0.15 Weber County 14-016-0025 5.86 Goey V Archuleta 14-017-0001 0.23 Renteria, Fernando R & WF Theresa F 14-017-0002 0.11 Dolph, Thomas I 14-017-0003 0.12 Lanear, Ezra Walter & WF Ladene 14-017-0004 0.18 Dickey, Tracy Ben & WF Deborah Lee 14-017-0005 0.14 Harrington, Beth 14-017-0006 0.25 Weber County 14-017-0007 0.01 Martinez, Gloria U 14-017-0008 0.23 Medina, Jimmy F & WF Esther P 14-017-0009 0.22 Reese, David L & WF Lois 14-017-0010 0.42 Barela, Alfred R 14-017-0012 0.19 Heineman, Robert 14-017-0013 0.15 Loftus Leasing Company LC 14-017-0014 0.30 Banach Rental & Leasing LLC 14-017-0015 0.16 Banach Rental & Leasing LLC 14-017-0016 0.18 Banach Rental & Leasing LLC 14-017-0017 0.10 Golden Spike Industrial Properties LLC 14-017-0018 1.60 Golden Spike Industrial Properties LLC 14-017-0019 0.05 Golden Spike Industrial Properties LLC 14-017-0020 0.48 The Equity Growth Group 14-017-0021 0.24 Long, Vicky Lynn 14-018-0001 0.18 Roy Cottam & Irene Cottam Revocable Trust 14-018-0002 0.16 Margaret E Mansfield Trust 14-018-0003 0.16 ---PAGE BREAK--- 4 Final Morales, Raul Mercado 14-018-0004 0.16 Property Network Inc 14-018-0006 0.22 Navarro, Sugeyt E 14-018-0007 0.10 Butler, Alice M 14-018-0008 0.10 Zavala, Gonzalo 14-018-0009 0.10 Harrington, Leonard D & WF Janet Gioffre 14-018-0010 0.12 Stoffers, Don M & Linda H Trustees 14-018-0011 0.17 Zepeda, Jessica A 14-018-0012 0.16 Maw, Kent J & WF Wanda 14-018-0013 0.16 Vera Lee Gardiner Briem Family Protection Trust 14-018-0014 0.19 Maes, Lloyd & WF Toni Jo 14-018-0015 0.21 Bassett, Michael 14-018-0016 0.19 Kemnitz, Christopher J 14-018-0017 0.18 Martell, Aaron 14-018-0018 0.13 Montierth, Melanie Ann 14-018-0019 0.16 Long, Vicky Lynn 14-018-0020 0.09 Hansen, John L 14-019-0001 0.17 Farley, Jerry & WF Kelly D 14-019-0002 0.16 Dais, John L 14-019-0003 0.16 Laws, Bonnie L & James D Sorensen 14-019-0004 0.15 Bassett, Michael 14-019-0005 0.14 Jackson, Wilford & WF Hazel 14-019-0006 0.13 Sandoval, Madeline 14-019-0007 0.12 Salgado, Reynaldo 14-019-0008 0.13 Vargo, Steve & WF Merrilin 14-019-0009 0.18 Fernandez, Luis & WF Rosalva 14-019-0010 0.18 Rimer, May G & Annabell Alveriz 14-019-0011 0.16 Morrison, Scott P 14-019-0012 0.16 Fain, Curtis G & WF Linda K 14-019-0013 0.29 Christensen, Lynna 14-019-0014 0.16 Ochoa, Gloria 14-019-0015 0.20 Sophie G Rosas Trust 14-019-0016 0.17 Hatfield, Justin G 14-019-0017 0.16 Ogden City Corp 14-019-0018 0.65 Rosas, Sophie G Etal 14-019-0019 0.16 M A B LLC #2 14-019-0020 0.19 BJ & J LLC 14-020-0001 0.15 BJ & J LLC 14-020-0002 0.51 Bird, Jeanette T 14-020-0003 0.23 BJ & J LLC 14-020-0004 0.14 Gordon, Gerald Etal Trustees 14-020-0005 0.37 Church of God Ebenezer 14-020-0006 0.98 ---PAGE BREAK--- 5 Final L Bloom & Son Ogden LLC 14-133-0001 1.62 Ogden City Corp 14-133-0002 0.59 Hansen Holley Properties LLC 14-134-0002 6.06 Total 122.48 The Project Area encompasses all of the parcels and land detailed in TABLE 1: PROPERTY DESCRIPTION. A map and legal description of the Project Area are attached hereto in APPENDIX A. ---PAGE BREAK--- 6 Final Section 2: Project Area Characteristics and how they will be affected by Economic Development Land Uses in the Project Area Historically, the Project Area was used primarily as a stockyard and livestock exchange. The stockyards and exchange building are no longer used for those purposes, with some of the buildings currently used as storage and some of the buildings sitting vacant. Land within the Project Area is currently owned by multiple owners and the land use is mixed between commercial/industrial and residential. It is intended that Phase I(A) of the development will turn the empty stockyards and commercial buildings into a light industrial/business park. It is intended that Phases I(B) and II be developed into commercial and flex space. The Ogden City General Plan designates uses in the Project Area as limited manufacturing, manufacturing and industrial, community commercial, regional commercial, and single-family residential. The land uses allowed for in each zone, as defined in Title 15: Zoning Regulations, are described below: • Limited Manufacturing Zone: Allows for industrial activities of limited intensity, such as construction contractor trades, warehousing and wholesaling, and small-scale production, fabrication, assembly or processing activities. Uses are limited to those that will not create traffic hazards, noise, dust, fumes, odors, smoke, vapor, vibration or industrial waste disposal problems. • Manufacturing Zone: Allows for industrial uses which require large areas and may have some noise or other byproducts that do not pose a threat to the environment. • Community Commercial Zone: Allows for general retail purposes on properties that are large enough to have a low potential for adverse impacts on the overall visual image of key areas such as major streets and including into the community. • Regional Commercial Zone: Allows for the sale and supply of the complete range of retail and wholesale goods, entertainment and personal services for the metropolitan area and, also, a center for recreational entertainment and cultural activities for the entire region. • Single-Family Residential Zone: Allows for accessory buildings and uses customarily incidental to any permitted use, agriculture, churches, synagogues or similar permanent buildings used for regular religious worship, cluster subdivisions, daycare centers (provided the facility is located on the same site as an educational institution), educational institutions, golf courses (except miniature golf courses), greenhouses (noncommercial only), home occupation, household pets, pigeon lofts for the housing of racing pigeons, public buildings, public parks, recreation grounds and associated buildings, residential facilities for persons with a disability, residential garage sale or yard sales, single-family dwellings, and temporary buildings for use incidental to construction work. This Plan is consistent with the General Plan of Ogden City and promotes economic activity by virtue of the land use contemplated. Any zoning change, amendment, or conditional use permit necessary to the successful development contemplated by this Plan shall be undertaken in accordance with the requirements of Ogden City’s Code and all other applicable laws, including all goals and objectives in Ogden City’s General Plan. The current land use map for Ogden City is attached hereto in APPENDIX B. ---PAGE BREAK--- 7 Final Layout of Principal Streets in the Project Area The principal streets are 24th Street, Exchange Road, and B Avenue. 24th Street acts as a primary entrance into downtown Ogden from Interstate 15. Phase I(A) of the development contemplates altering the current layout of B Avenue to better facilitate access into the development. The layout of the current principal streets is attached hereto in APPENDIX C. Population Densities Currently, there are approximately 80 existing residences and 5 existing businesses in the Project Area. As part of Phase I(A), the Agency does not anticipate acquiring any of the above referenced existing residences. However, Phase II of the contemplated development may require the acquisition and removal of some or all of the existing residences referenced above. Building Intensities in the Project Area The Project Area site plan with project phasing is attached hereto in APPENDIX D. Phase I(A) of the contemplated development will contain approximately 3,062,268 square feet of manufacturing and light industrial space. Phases I(B) and II of the contemplated development will contain approximately 1,220,116 square feet of manufacturing, light industrial, commercial, and flex space. Phases I(A) and I(B) of the contemplated development will not remove or add to the existing residential space, comprising approximately 1,000,000 square feet. However, Phase II of the contemplated development may call for the removal of some or all of the existing residential space. Such development will occur in accordance with the Act, the approval of the City Council and Agency, and all other applicable state and local laws and regulations. The contemplated development is expected to improve the value of the property in and surrounding the Project Area. ---PAGE BREAK--- 8 Final Section 3: Standards that will Guide Economic Development Development Objectives In order to provide maximum flexibility in the development of the Project Area and to encourage and obtain the highest quality in development and design, general development objectives for the anticipated uses within the Project Area are set forth herein. In addition, each development proposal in the Project Area will be subject to appropriate elements of Ogden City’s General Plan; the Zoning Ordinance of the City; other applicable building codes and ordinances of the City; and, as required by ordinance or agreement, review and recommendation of the Ogden City Planning and Zoning Commission and approval by the Agency. Development proposals shall be accompanied by site plans, development data and other appropriate material that clearly describe the extent of development, and any other data determined necessary or requested. The following objectives are a guide for each development within the Project Area: 1. Encourage and assist economic development in order for a public or private employer to create additional jobs within the community. 2. Removal of impediments to land disposition and development through assembly of land into reasonably-sized and shaped parcels necessary for economic development served by improved public utilities, infrastructure improvements, and new public or private facilities. 3. The elimination of environmental deficiencies, irregular lot subdivision, improper drainage, overcrowding, or underutilization of real property. 4. Achievement of an environment reflecting a high level of concern for architectural, landscape, and urban design principles, developed through encouragement, guidance, appropriate controls, and financial and professional assistance to owner participants and developers. 5. Promote and market the project area for economic development that would be complimentary to existing businesses and industries or would enhance the economic base of the City. 6. Provide utilities, streets, curbs, sidewalks, parking areas, landscape areas, and other infrastructure improvements as appropriate and necessary. 7. Provide for the strengthening of the property and income tax base and economic health of the general community and the State of Utah. 8. Provide improved public streets and road access to and within the Project Area to facilitate better traffic and pedestrian circulation, reduce traffic hazards, and to promote air quality and reduce congestion. 9. Ensure compatible relationships among land uses and quality standards for their development, such that the area functions as a unified and viable center of economic activity for the City. Design Objectives General Design Objectives 1. Provide an attractive urban environment. 2. Blend harmoniously with the adjoining areas while maximizing location and proximity to natural assets. 3. Provide unobtrusive parking areas landscaped to blend harmoniously with the area. 4. Provide open spaces, if applicable, which are oriented to the directions of the maximum use and designed to derive benefit from topographical conditions and views. ---PAGE BREAK--- 9 Final 5. Provide that the development of land within the Project Area will be undertaken in such a manner that any off-street parking will meet City codes. Specific Design Objectives Building Design Objectives 1. All new buildings shall be of design and materials which will be in compliance with applicable zoning regulations and/or approved Project Area design guidelines and shall blend harmoniously with the adjoining areas. 2. The design of buildings shall take optimum advantage of the topography. 3. Buildings shall be restricted in height in order to preserve the scenic views in the area. Open Space Pedestrian Walks and Interior Drive Design Objectives 1. All open spaces, pedestrian walks, and interior drives shall be designed as an integral part of an overall site design, properly related to proposed buildings and oriented to maximize use of natural assets that exist within and in proximity to the site. 2. Attractively landscaped open spaces shall be provided, which will offer maximum usability to occupants of the building for which they are developed. 3. Landscaped, paved, and comfortably graded pedestrian walks should be provided along the lines of the most intense use, particularly from building entrances to streets, parking areas, and adjacent buildings on the same site. 4. The location and design of pedestrian walks should afford maximum safety and separation from vehicular traffic, and should recognize desirable views of new and existing development in the area and surrounding community. 5. Materials and design of paving, retaining walls, fences, curbs, and benches shall be of good appearance, easily maintained, and indicative of their purpose. Parking Design Objectives 1. Parking areas shall be designed with careful regard to orderly arrangement, topography, relationship to view, ease of access, and as integral part of overall site design. 2. It is desirable that parking areas be level or on terraces as indicted by the slope of the land. Landscape Design Objectives 1. A coordinated landscape design over the entire Project Area incorporating landscape treatment for open space, roads, and parking areas into a continuous and integrated design shall be a primary objective. 2. Primary landscape treatment shall consist of zone appropriate deciduous and non-deciduous shrubs, ground cover, and shade trees as appropriate to the character of the Project Area. Project Improvement Design Objectives 1. All streets, sidewalks, and walkways within public rights-of-way will be designed or approved by the City and will be consistent with all design objectives. 2. Lighting standards and signs of pleasant appearance and modern illumination standards shall be provided as necessary. ---PAGE BREAK--- 10 Final 3. As needed, any existing structures, retaining walls, underbrush, pavement, curb, and gutters will be removed and the site graded in conformance with the final project design. Approvals The Agency shall have the right to approve the design and construction documents of all development with the Project Area to ensure that all development within the Project Area is consistent with this Project Area Plan. The City shall notify the Agency of all requests for zoning changes; design approval; site plan approval; and building permits within the Project Area. Projects within the Project Area shall be implemented as approved by the Agency and the City. ---PAGE BREAK--- 11 Final Section 4: How the Purposes of the State Law will be attained by Economic Development The purposes of the state law will be attained as a result of the proposed economic development by accomplishing the following items: The Provision of Development That Enhances Economic and Quality of Life The real property located within the Project Area is intended to be used for the development and redevelopment of major manufacturing, light industrial, and flex space. The overarching element of the development activities is to attract new jobs to the local economy. Provision of Public Infrastructure The proposed economic development could provide, when applicable, infrastructure additions into an area that currently has cases of deficient or old public infrastructure that will not support future development. This infrastructure could include, but not be limited to, sidewalks, curb and gutter, street lighting and street furniture, water and sewer, gray water irrigation systems, fiber optic cable, underground utilities, etc. Associated Business and Economic Activity Stimulated by the Development The implementation of the Project Area Plan and the associated development will also likely create indirect employment effects with demand for goods and services in areas such as food services, transportation, leisure and entertainment, and office supplies/furnishings. Construction jobs will increase as a result of the development in the Project Area. ---PAGE BREAK--- 12 Final Section 5: How the Plan is Consistent with the Community’s General Plan This Plan and the development contemplated thereby conform to Ogden City’s General Plan in the following respects: Zoning Ordinances Any development contemplated within the Project Area shall conform to Title 15: Zoning Regulations. Building Codes All projects within the Project Area will conform to all building codes that are currently imposed by the City, including Title 16: Building and Construction Regulations. Planning Commission The Planning Commission will review any future development proposals contemplated in the Project Area and make such recommendation thereon to the City Council as may be needed to facilitate development in the Project Area. ---PAGE BREAK--- 13 Final Section 6: Description of Job Creation The Project Area consists of approximately 122 acres of property located within the City. Specific projects within the Project Area will include, but are not limited to, the creation of a new manufacturing, light industrial, and flex business park. The contemplated development includes the construction of facilities which the Agency believes are of benefit to the community in order for private employers to create new jobs in the City. The Agency estimates that approximately 100-500 new jobs will be created over the life of the Economic Development Area. Construction jobs will increase as a result of the contemplated development. According to the Utah Department of Workforce Services, the average construction wage is $35,260 annually. Construction jobs will extend throughout the duration of the Economic Development Area, with many of the jobs created during Phase I(A) of the contemplated development. There will also likely be indirect employment effects with demand for goods and services in the City in areas such as food services, transportation, leisure, and entertainment. ---PAGE BREAK--- 14 Final Section 7: Description of Specific Projects Phases I(A) and I(B) of the contemplated development consist of approximately 78 acres. The contemplated development to occur in Phases I(A) and I(B) is the creation of a manufacturing, light industrial, and flex business park. This business park will take advantage of the natural amenities located in the Project Area, particularly the Weber River. The buildings that will be constructed during Phases I(A) and II(B) include manufacturing, flex, and office space. Phase II of the contemplated development consist of approximately 44 acres. There are no specific projects currently proposed for Phase II at this time. However, any development will be consistent with the Ogden City General Plan, zoning regulations, building codes, the Project Area Plan, and will blend harmoniously with the adjoining area. ---PAGE BREAK--- 15 Final Section 8: Ways in which Private Developers will be selected to undertake the Economic Development General Guidelines The City and Agency will select or approve such development as solicited or presented to the Agency and City that meets the development objectives set forth in this plan. The City and Agency retain the right to approve or reject any such development plan(s) that in their judgment do not meet the development intent for the Project Area. The City and Agency may choose to solicit development through an RFP or RFQ process; through targeted solicitation to specific industries, groups, or developers; from inquiries to the City, EDCUtah, GOED; and/or from other such references. The City and Agency will ensure that all development conforms to this plan and is approved by the City Planning Commission and City Council. All potential developers will need to provide a thorough development plan, including sufficient financial information to provide the City and Agency with confidence in the sustainability of the development and the developer. Such a review may include a series of studies and reviews, including reviews of the developer’s financial statements, third-party verification of benefit of the development to the City, appraisals, reports, etc. Interested Parties The Agency has been contacted or has made contact with several developers that may be interested in the Project Area, but there are currently no interested parties under contract in the Project Area at the time of this publication. ---PAGE BREAK--- 16 Final Section 9: Reasons for the selection of the Project Area Much of the Project Area is located in the soon-to-be terminated Golden Spike RDA. The Golden Spike RDA was created by the City in 1989. The original project expected to take place in the Golden Spike RDA, a malting facility, was not completed. As a result, the Golden Spike RDA sat dormant for the duration of its term. The Project Area will take advantage of the features originally envisioned for the Golden Spike RDA. Specifically, the Project Area was selected for the following reasons: 1. The opportunity to grow and expand existing business and/or attract new public or private businesses. 2. The area’s proximity to downtown. 3. The area’s proximity to the freeway off ramp, Weber River, and railroad access. 4. The opportunity to transform an otherwise underutilized and uninviting section of the City into a statement of activity and excellence. ---PAGE BREAK--- 17 Final Section 10: Description of the Physical, Social, and Economic Conditions existing in the Area As stated above, the Project Area consists of approximately 122 acres. The Project Area contains many land uses, including manufacturing, commercial, and residential uses. Much of the Project Area, especially the property located in Phase I of the contemplated development, is vacant or used for storage. Much of the land in Phase I currently lies in a flood plain, and the land will be raised to remove this as a barrier to development. Comparing Utah’s 29 counties, Weber County has one of the highest rates of poverty and lowest median household income in the state. The purpose of the Project Area is to encourage development in an area that is otherwise underutilized and have a positive impact on the physical environment as well as the socioeconomic characteristics of the community. ---PAGE BREAK--- 18 Final Section 11: Description of Tax Incentives Offered to Private Entities The following generally describes incentives which the Agency intends to offer within the Project Area to developers or participants. Such incentives will be used to incentivize necessary construction, infrastructure improvements, or development in the Project Area: 1. The Agency intends to use tax increment approved by agreement with the Taxing Entity Committee for public infrastructure improvements, certain off-site improvements, and other improvements as approved by the Agency. 2. Payments made to the developer/participants pursuant to agreements between the developer/participants and the City or Agency. 3. Expenditures approved and outlined in the Project Area Budget. Except where the Agency issues bonds or otherwise borrows or receives funds, the Agency expects to pay the City or developer/participants for the agreed amount in the agreed timeframe to the extent that tax increment funds are received and available. Subject to provisions of the Act, the Agency may agree to pay for eligible costs and other items from taxes for any period of time the Agency may deem to be appropriate under the circumstances. ---PAGE BREAK--- 19 Final Section 12: Analysis of Anticipated Public Benefit to be derived from the Project Area Evaluation of the Reasonableness of the Costs of Economic Development The Economic Development Area will run for 20 years. The estimated total amount of tax increment created over this period is projected to equal approximately $13,013,902. The estimated total amount of private investment over this period is projected to equal approximately $52,000,000. The estimated ratio of proposed economic development investment is approximately 8:1. The Agency views this ratio as a reasonable cost of economic development. Efforts the Agency or Developer has made to Maximize Private Investment Preliminary steps have been taken to maximize the amount of private investment anticipated by the developer. These steps include: 1. Directing the largest private investment into capital projects that create revenue. 2. Directing public investment into offsetting revenue-creating costs. 3. Reducing impediments to improve implementation timeframe. Rationale for Use of Tax Increment The City and Agency view the establishment and subsequent development of the Project Area as an opportunity to renew the interest for private development in the Project Area. The Project Area has sat dormant for several decades, including since 1989, when the Project Area existed as the Golden Spike RDA. Except for the use of public investment in the form of tax increment, the City and Agency believe it is reasonable to expect that development in the Project Area will not occur or will occur in an undesirable manner. By identifying and working with developers from the onset of the Project Area, the Agency seeks to ensure that the public investment will have an immediate leveraged impact on the Project Area and will bring about the greatest value. Estimated Total Amount of Tax Increment The public investment is expected to yield the following private investment and the resultant tax increment: Projected Taxable Improvement $52,000,000 Total Projected Available Tax Increment $13,013,902 Total Projected Expended Tax Increment $10,290,342 Tax Increment Period 20 years Anticipated Public Benefit to be derived from the Economic Development The public will realize significant benefit from the development of the Project Area illustrated in this Plan. The Agency’s long-term objective is to create a high-quality manufacturing and light industrial area in a part of the City that is currently underutilized. Obtaining this objective will strengthen the City’s economic and tax base and provide additional economic activity in the area. ---PAGE BREAK--- 20 Final Tax Base Property Taxes. The 2012 taxable value of the real property in the Project Area is $9,792,418. The taxable value of the Project Area at the end of the tax increment period, considering the addition of the value of the specific projects described herein, is projected to be approximately $52,000,000. The increase in taxable value on real property is projected to generate more than $13,000,000 in new property tax revenue over the 20-year Project Area period. Other Revenues. In addition to increased property tax revenue, development in the Project Area is expected to generate other revenue, including Class B/C Road Funds, business license fees, charges for services, municipal energy (“franchise”) fees, and one-time fees such as building permits and impact fees. Associated Economic Activity Other business and economic activity likely to be stimulated includes business and employee expenditures and construction expenditures. Business and Employee Expenditures. It is anticipated that the business owners or tenants in the Project Area will directly or indirectly purchase local goods and services related to their operations from local or regional suppliers. These purchases will likely increase employment opportunities in the related business of office equipment, furniture and furnishings, office supplies, computer equipment, communication, security, transportation and delivery services, maintenance, repair and janitorial services, packaging supplies, and office and printing services. The impacts of these types of purchases include: • Provide an increase in direct purchases in the City. • Provide economic diversification with the City and Weber County. • Encourage economic development and create additional jobs in the City. • Complement existing businesses and industries located within the City by providing new employees who may live, shop, and/or pay taxes in the City. • Create benefit through the expenditure of income by employees filling created positions. Construction Expenditures. Economic activity associated with the development will include construction activity. Construction costs are expected to reach approximately $32 million. It is expected that 40 percent of construction costs ($12,800,000) will comprise labor costs, 40 percent ($12,800,000) will comprise costs for materials and supplies, and 20 percent ($6,400,000) will comprise overhead costs and profit. It can be reasonably expected that a portion of the $12,800,000 in labor costs will be re-spent in the City, particularly on products like convenience goods and services, food services, and personal services. ---PAGE BREAK--- 21 Final Section 13: National Register of Historic Places or State Register The preservation and use of historical buildings is important to help maintain the character of the area. Historical buildings should be encouraged to remain in private ownership and continue to be put to beneficial and productive use to help ensure their preservation. The Agency believes there is currently one building that is eligible for the National Register of Historic Places within the Project Area. To this end, the Agency shall comply with subsection 9-8-404(1) of Utah Code as though the Agency was a state agency. The Agency shall take all appropriate action to utilize and protect the character of the historic building in the Project Area. ---PAGE BREAK--- 22 Final Section 14: Provisions for Amending this Economic Development Plan The Economic Development Plan may be amended or modified any time by the Agency in the same manner as though the amendment or modification constituted an economic development plan being originally proposed or as provided in section 17C-3-109 of the Act. ---PAGE BREAK--- 23 Final Appendix A: Map & Legal Description of the Project Area ---PAGE BREAK--- 24TH ST CAHOON ST EXCHANGE RD BEE CT C AVE 24TH ST D AVE E AVE F AVE SKATE ST B AVE 14-015-0005 14-015-0003 14-015-0017 14-015-0022 14-014-0006 03-005-0003 14-016-0006 14-016-0007 14-016-0006 14-014-0007 14-016-0024 14-020-0001 14-016-0010 14-016-0023 14-016-0005 14-016-0022 14-017-0019 14-015-0002 14-014-0010 14-015-0013 14-015-0023 14-016-0005 14-014-0017 14-016-0004 14-016-0021 14-016-0002 14-015-0020 14-016-0003 14-015-0001 14-014-0013 14-016-0008 14-015-0007 03-005-0004 14-015-0019 14-015-0009 14-016-0001 14-014-0009 14-014-0011 14-014-0015 14-015-0011 14-015-0027 14-016-0009 14-015-0024 14-016-0020 14-010-0025 14-016-0017 14-014-0021 14-014-0020 14-016-0018 14-010-0025 14-011-0007 14-133-0001 14-013-0006 14-133-0002 14-013-0006 14-014-0019 14-010-0049 14-011-0006 14-014-0004 14-016-0017 14-010-0049 14-010-0049 14-014-0003 14-014-0019 14-011-0006 14-011-0007 14-014-0003 14-014-0003 14-014-0003 03-005-0008 14-019-0010 14-019-0005 14-018-0016 14-019-0016 14-017-0013 14-018-0008 14-017-0018 14-019-0003 14-017-0001 14-018-0017 14-020-0002 14-019-0014 14-017-0016 14-019-0007 14-020-0006 14-017-0007 14-020-0003 14-017-0008 14-019-0009 14-018-0003 14-017-0021 14-019-0011 14-017-0010 14-018-0010 14-019-0017 14-019-0015 14-018-0009 14-019-0001 14-017-0020 14-018-0019 14-017-0002 14-019-0004 14-019-0002 14-018-0006 14-019-0019 14-018-0002 14-018-0004 14-020-0005 14-018-0014 14-018-0018 14-017-0005 14-019-0006 14-020-0004 14-018-0011 14-019-0012 14-017-0004 14-017-0009 14-019-0008 14-018-0017 14-017-0015 14-017-0014 14-019-0020 14-017-0006 14-019-0013 14-018-0020 14-018-0012 14-018-0013 14-018-0001 14-019-0018 14-017-0017 14-018-0015 14-017-0012 14-018-0007 14-017-0003 14-016-0025 14-134-0002 14-014-0008 F Trackline Economic Development Area ---PAGE BREAK--- 24 Final Appendix B: Ogden City Land Use Map ---PAGE BREAK--- M-2 M-2 M-2 Riverdale Washington (400 E) 1900 2550 2100 12th Ha rri s on/ M ountain Wall (100) Monroe (800 E) Washington (400 E) 15 15 84 84 15 15 29TH 27TH WALL PORTER JEFFERSON HARRISON BINFORD BILL BAILEY 650 POLK BOULDER CANYON 21S T 20TH 20TH 28TH M A N DE R LEY 29TH 27TH JOE DEAN 1 6 90 EDGE WOOD 1185 1250 1500 2550 ORCHARD FILLMORE 500 21ST 1650 7TH 1960 UNION WEST GA T E 1075 23RD 15TH T Y LER WEST OAKS 900 STEPHENS 1025 LAKE RAI L R O A D REEVES CHELSEA 17TH MEA DOWB R O O K 26TH ORCHARD SPRUCE BROWNING 4400 4 7 50 25TH 450 SIOUX MANOR N AVAJO BRINKER C O MMERCE POLK 925 175 MOUN TAIN 650 FARR 425 1500 1ST D A N K Y L E E 27TH 5015 36TH 1075 WASA TCH COUNT RY HI LLS NAVAJO DOUGLAS SHAMROCK COMANCHE 30TH 31ST 36TH DOWNS 1175 IROQ U OI 1600 22ND B E VER LY SUN VALLEY ORCHARD 9 1 0 1350 CAHOON VAN BUREN KERSHAW 32ND C 375 OGDEN 46 00 CHESTNUT GRAMERCY HOLLY 1175 1990 HAM PTON R I D GE 440 PIERCE 490 40TH 6TH GRAMERCY 900 1635 FOW L ER OGDEN 1150 CAHOON 1350 1200 WILDCAT ADAMS 30 TH 1ST 1075 R I VER BUCHANAN FI LLMORE COLLINS TAYLOR 1375 550 CANFIELD 1325 HEALY FILLM O R E KIESEL STEWART 1675 1140 21ST LYNNE SC H O O L SHARP MOUNTAIN STEPHENS BRAMWELL 4900 670 LIBERTY PINE HILLSIDE 900 1165 425 LE W I S PEA K 3 1ST 500 BEL MAR SUN C RE S T G O ODALE 1200 E 1525 1 3 90 M AXFIELD R O ND C A N Y O N 1050 23RD 21 00 FRANKLIN 4750 COOK 12TH 36TH TYLER ADOBE MI LL ROBINS 1 4 20 G GRAMERCY GARDEN GRANDVI E W PIERCE 120 37TH 900 500 CHATELAIN RIVE R BEND OR C H A R D 300 1050 3RD 550 28TH 1825 175 14 0 400 34TH S U N VIE W MIDLAND 200 500 26TH 425 2080 M APL E FORT 22ND 5050 670 135 STONE HAWTHORNE BELNAP EXCHAN GE 900 775 875 SI MORO N 1040 990 1275 1500 1225 VALLEY VIEW 4 30 1000 COOK 525 MILL CREEK 1075 KINGST ON INDIAN CAMP 960 975 BIRCH BINFORD 2025 3350 PLUM CREEK H 200 660 825 LAKEVIEW 4 7 5 4975 TAYLOR 29TH 13TH 10TH 1050 430 24TH ACORN CROSS 27TH T A YLOR 500 42ND ADAMS AMIDAN TAYLOR 4875 925 1 5 0 OLD SPRI N GS 150 600 GAVIN RANCHO 200 VAN BUREN 13 0 0 3 80 SHADO W MOUN T A IN 2750 7TH CUSTER JACKSON HARROP 28TH 600 410 SECLUDED 16T H PACI F IC FIL LMORE 1250 20T H 1410 1640 9 25 800 23RD 3975 2ND 1225 1025 4TH A RAPAHO GRAMERCY CHILLY PEAK 625 WOODLAND JEFFERSON 31ST ROSS ECCLES SHAR R ON 200 D 9TH SELLWOOD 137 5 1450 MADISON WASHAKIE 33RD V A L LEY 9TH 1055 940 41 S T ORCHAR D 895 MADISON HUDSON 450 10TH WA TERFALL A L T A VISTA 18TH BOUGHTON MADISON HEALY CANYON 28TH LAKE 125 PACIFIC 32ND HAMPTON AZTEC HARRISON 26TH E ARL ALLEN PEAK OGDEN LI BERTY 21ST HILAND 475 PORTER HARRIS 2ND 140 1550 9TH GRANT QUINCY LOCKWOOD M AULE 13 00 950 6 5 0 1575 1 100 BRINKER 26TH 22ND 8TH 25TH 1325 9TH 35TH DOUGLAS 225 0 DEERWALK CAHOON 24TH CAPITOL F RANKLIN 200 BEE 3125 6 50 OAK WADE S H AD OW VALL E Y 840 34TH CAPITOL 25TH LAKE 1ST 3RD GRAMERCY HAMPTON G REEN QUINCY 16 0 GRAMERCY FOWLER K IESE L HIDDEN WHIS P ERI N G OA K S 4TH 1550 ECCLES RUE ANN 425 PARKVIEW 4275 4TH ADAMS 6TH BIRCH 30TH 125 29TH OGDEN 21ST 1900 33RD IOWA HUNTER MONROE 1 32 5 WHITE F 32ND UNIVERSITY 400 VA N B U REN 8 0 0 VAN BUREN BROOKSIDE NIGHTING A LE 31ST 450 WOOD 18TH 37TH 375 MEADOW C R EE K GRANT 22ND 34TH 15TH PIERCE 37TH 950 950 CAPITOL B DOXEY 87 5 35TH 17TH 33RD GODDARD 19TH PATTERSON LIBERTY 33RD FILLMORE 38TH VI C T O RIA 35TH 26TH 16TH POLK 32ND POLK TAYLOR CHEYENNE TO MAHAWK 25TH WEST OAK 900 TAYLOR F 24TH WILLAR D PARK CHRISTENSEN REEVES VITT BINFORD 925 BUC H ANAN OAKR IDGE MALAN GOODYEAR BOBWHITE VICTO R Y L E W IS CLOVER 160 TAYLOR OLD POST 5TH 2750 DE POT 3RD ARROWH E AD 48 00 F A I R VIEW 27 3 5 41ST PORTER 2ND TYLER 925 875 800 5 75 1140 1000 NO R TH 4050 34TH 830 1375 3 4 2 5 1150 FOWLER 337 5 KERS HAW 775 TAYLOR CRITCH LOW WILDFLOW E R CROSS 24TH BINFORD KIESEL [PHONE REDACTED] C LARKSPUR PATT E RSO N 850 725 760 5 5 0 S A R A IOWA 500 CROSS 2650 W I N CHESTER COOK 2ND 27TH TYLER DAN KIESEL 8TH FRA N K L IN 16TH BENC H VIEW CHILDS LINCOLN K N O L LWOOD 850 DOXEY W ILD ROSE 1275 4400 DOUGLAS 730 ELLIS 360 800 MARILYN 4225 440 SULLIVAN 39TH CHILDS SK ATE 1 950 SEVEN O A K S 850 1100 OGDEN LAINE 4925 B U C H ANAN SHERIDAN 31ST 930 SOUTHWELL 33RD QUAIL MOUNT OGDEN CHEROKEE IOWA UNION 5TH NORTH ECCLES OGDEN 35TH GRAMERCY FI LLM O RE 1850 M E LLING DON N A 2 4 T H 1 [PHONE REDACTED] SWAN OXFORD 17TH 7TH HARROP MARTIN ET BOU G HTON 700 OGDEN 1100 ECCLES 1300 S PRING MADISON 1760 FARR 950 1620 SULLI V AN 1700 NORTH CROSS PINGREE 3RD 1350 475 P EA C H 11TH 700 9TH 850 775 C HARENTON COVE ORCHARD MADISON 2450 JEFFERSON 1200 CANYON 875 LIBERTY HARRISVILLE 28TH HARRISVILLE BINFORD 7TH J A C K S O N 1000 650 OAK S TEG EN 5TH 600 A CAPITOL DARLING DOXEY 20TH FOWLER RUSHTON BINFORD 570 RUSHTON ORCHARD ORCHARD 970 OAK ADAMS ADAMS VIRGINIA LIBERTY PORTER HAWTHORNE ECCLES SWAN DOXEY KERSHAW IOWA CHILDS LINCOLN REEVES 16TH KIESEL ROBINS 550 PORTER 1000 PINGREE CHILDS 13TH 8TH STOCK 31ST FOWLER 750 KERSHAW DARLING 700 MALAN 925 GODDARD PO R TE R UNION PARRY 1030 RIVER 1070 3300 600 HEALY [PHONE REDACTED] 2800 CHEROK E E 452 5 INDUSTRIAL 1150 SKYLINE 1ST JEFFERSON PARK P OLK DOU G L A S SHUPES 28TH 14TH SIMORON ARLI NGT O N DAN WATER TOWER 31ST 12TH RUTHERFO R D RID G E 1ST JACKSON LINCOLN BRINKER 4750 A N A SAZI EASTGATE 900 ROBINS 125 2750 CHILDS RAY MOND GWEN 3265 RI D GE PLAC E 6TH PINGREE 3RD 33R D 3 4TH STOWE 2900 13TH KIESEL HARROP 5TH NORTH H E NDE R S ON 1100 7TH HARRIS 1050 SHOSHON E CENTER PACIFIC CHESTER O L D C A NY O N 850 1760 305 0 ADAMS 8TH 13TH COUNTRY HIL L S HINCKLEY 1000 [PHONE REDACTED] EDVALSON C ANYON MIDDL E TON CR ITCHLOW SAN JOSE EDGEHILL SAM WILLIAMS J AMES BRO W N DOUGHTON 4100 PARK JEFFERSON AVC 8 85 WASHINGTON JACKSON 450 BRINKER HI S L OP IOWA M E A D O W CENTURY FO W LER MONROE LIBERTY GLASMA NN JEF F E R SON VAN BUREN ADAMS TYLER H HISLOP ECCLES PARK E R RID G ED ALE SAM GATES CENTURY KIESEL Q UINC Y STANDA R D PINGREE MONROE W IL L A R D P E A K 925 MONROE APACHE ECCLES QUAI L R U N QUINCY QUINCY JACKSON E C C L ES 300 DOWNS SKYLINE JACKSON VAN BU R EN MOUNT A I N JACK S O N CHILDS PORTER 3 75 GRANT 1025 630 LIBERTY GIBSON POLK TAYLOR GRAMERCY QUINCY K I E SEL M OHAW K CIR C L E 425 FERN OLD P O ST G 9 75 CUSTER 24TH GRANT GRANT GRANT QUINCY JEFFERSON TYLER A ECCLES ECCL E S VAN BUREN 950 FOWLER 10 1 5 DOXEY TAYLOR 775 WASHINGTON M ELO D Y DIXON WAD MAN O AK CRE S T SKYLINE B A K E R GRAMERCY MILE HIGH LIBERTY BRINKER 1000 DILLON OGDEN ADAMS BEUS 800 DARLING IOWA OGDEN OGDEN OGDEN 950 530 5 3 0 M A DIS ON LIBERTY S IG N E HA R R I S O N 4600 ACC ESS 925 JACKSON L ORL COLLEGE AIRPORT AI R PORT 750 750 UNION PACIFIC UNION PAC IFIC 1250 27TH STACI 16TH KIESEL GR A MERCY LINCOLN AVC 6TH RUSHTON JACKSON QUINCY 9TH 550 675 LINCOLN 34TH FILLMORE KIESEL CUSTER BRINKER 14TH MONROE ADAMS FOWLER PINGREE PORTER CUSTER POLK ECCLES LINCOLN GRANT ECCLES ADAMS UNION P A C IFIC PIERCE GRANT JACKSON LINCOLN TYLER GRANT JEFFERSON POLK TYLER PIERCE MADISON BRINKER MADISON ADAMS QUINCY VAN BUREN JACKSON JEFFERSON 3850 R-3 R-2 CP-1 R-1-10 R-1-10 NC-1 PI PI R-2 PI R-2 CP-1 PI CP-2 CP-2 R-3 R-3 PI R-4 R-2 R-3 R-3 R-2 R-3 CP-3 R-3 R-1-6 R-2 R-1-8 R-1-6 PI R-2 R-4 R-1-5 R-1-8 R-4 R-4 PI CP-2 R-3 M-2 MRD C-2 CP-3 CP-3 PI CP-2 R-2EC R-4 PI R-2EC NC-1 CP-1 R-4 C-3 PI R-4 R-1-6 R-1-8 O-1 R-1-8 PI CP-2 CP-1 R-1-8 CP-2 R-3 CP-2 O-1 RMH-1 R-2 R-3 M-1 MRD R-3 RMH-1 R-2 RMH-1 C-2 R-2 R-3 R-3 CP-2 R-3 CP-2 R-3 M-1 O-1 R-1-5 O-1 A-C M-1 A-C R-4 R-2 R-2 R-3 CP-1 R-4 R-4 PI O-1 CP-3 CP-2 R-4 M-2 R-4 R-3 R-4 M-2 M-2 M-1 M-1 PI R-2 RMH-1 R-1-8 R-3 PI R-2 R-3 R-2 CP-2 R-4 CP-3 R-3 R-3 NC-2 R-3 R-3 R-2 R-4 R-1-8 R-1-8 R-3 R-1-8 R-1-10 R-1-5 R-3 R-3 PI R-3 DDR M-1 A-C R-4 M-2 C-3 R-4 R-1-5 M-1 M-2 OCIP M-1 C-3/CO PI CP-1 M-2 R-5 PI M-2 NC-1 NC-2 NC-1 NC-1 R-1-5 NC-1 NC-1 R-1-8 CRC-1 R-2EC R-3 C-3 R-5 CP-3 C-2 RMH-1 M-1 R-4 C-2/CO R-1-10 O-1 C-2 O-1 MRD CP-1 R-1-6 C-3 M-1 C-3/CO CP-3 R-4 CP-2 PI RMH-1 CP-1 R-4 R-3 C-2/CO R-2 R-3/CO R-1-5 CP-3 C-2 M-1 C-3 PI CP-2 C-2/CO PI R-4 R-1-6 CBD R-2EC CBD/CO R-3EC O-1 C-3 R-4 R-1-6 R-2 R-1-6 R-4/CO R-1-6 R-3 R-1-8 CP-2 R-3 R-1-6 PI/CO PI CP-2 C-3 M-1 A-I M-2 M-1 CBD MU CBDI CP-3 CBD R-4 CP-3 C-2 CP-3 M-2 R-1-10 R-1-6 CP-2 £ ¤ 89 £ ¤ 89 M-2 M-2 M-2 % Zoning Map Zoning Map O-1, Open Space R-1-10, Single-Family Residential R-1-8, Single-Family Residential R-1-6, Single-Family Residential R-1-5, Single-Family Residential R-2, Two-Family Residential R-2EC, Two-Family Residential East Central R-3, Multiple-Family Residential R-3/CO, Multiple-Family Residential Conditional Overlay R-3EC, Multiple-Family Residential East Central R-4, Multiple-Family Residential R-4/CO, Multiple-Family Residential Conditional Overlay R-5, Multiple-Family Residential RMH-1, Residential Manufactured Home Park PI, Professional/Institutional PI/CO, Professional/Institutional Conditional Overlay NC-1, Limited Scale Neighborhood Commercial NC-2, Expanded Scale Neighborhood Commercial C-1/CP-1, Neighborhood Commercial C-2/CP-2, Community Commercial C-2/CO, Community Commercial Conditional Overlay C-3/CP-3, Regional Commercial C-3/CO, Regional Commercial Conditional Overlay CBD, Central Business District CBD/CO CBD Conditional Overlay CBDI, CBD Intensive District MU, Mixed-Use CRC-1, Commercial Recreation M-1, Limited Manufacturing M-2, Manufacturing and Industrial MRD, Manufacturing, Research and Development DDR, Defense Depot Reuse OCIP, Ogden Commercial and Industrial Park A-C, Airport Commercial A-I, Airport Industrial Accessory Dwelling Unit 12th Street Corridor Sensitive Area Airport Overlay July 2011 0 0.25 0.5 0.75 1 Miles planning planning ---PAGE BREAK--- 25 Final Appendix C: Layout of Principal Streets ---PAGE BREAK--- D AVE E AVE F AVE G AVE 24TH ST CAHOON ST EXCHANGE RD BEE CT C AVE MIDDLETON RD B AVE SKATE ST Trackline Economic Development Area- Principal Street Layout F ---PAGE BREAK--- 26 Final Appendix D: Site Plan ---PAGE BREAK--- I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I N SHEET NUMBER SHEET OF PROJECT NUMBER THE INFORMATION CONTAINED IN THIS DRAWING IS THE PROPERTY OF CRS ENGINEERS AND IS NOT TO BE REPRODUCED, MODIFIED OR USED FOR ANY OTHER PROJECT OR EXTENSION OF THIS PROJECT EXCEPT BY AGREEMENT WITH CRS ENGINEERS. ‹2011 RECORD OF REVISIONS STAMP 0 1 IF THE ABOVE SCALE BAR DOES NOT MEASURE 1-INCH IN LENGTH, DO NOT USE THIS DRAWING FOR SCALING PURPOSES. DIMENSIONS AND MEASUREMENTS SPECIFIED IN THE DRAWING TAKE PRECEDENCE TO SCALED MEASUREMENTS. PROJECT MANAGER PRINCIPAL CHECKED BY DRAWN BY DRAWING SCALE ISSUE DATE FARMINGTON OFFICE: PO BOX 280 160 S MAIN, STE. 200 FARMINGTON, UTAH 84025 PHONE: 801 . 939 . 5565 FAX: 801 . 359 . 4272 www.crsengineers.com CA LD W E L L R I C H A R D S S S OR E N N E A N S W E R S TO I N F R A S T R U C T U R E 2 P. HIRST D. EYRE S. MARSHALL D. WELLISCH AS SHOWN JANUARY 9, 2013 1 1 6 11043F.01 TRACKLINE PROJECT CONCEPTUAL PHASING PLAN 0 150' 300' LEGEND NOTES: 1. THIS DRAWING IS PRELIMINARY AND SUBJECT TO CHANGE DEPENDENT UPON SITE SURVEY, FINAL DESIGN, UTILITY COORDINATION, AND CITY APPROVAL. 2. QUANTITIES SHOWN ARE APPROXIMATE AND SUBJECT TO CHANGE. 3. 81/(66 OTHERWISE NOTED. NOT FOR CONSTRUCTION PRELIMINARY 24TH STREET EXISTING TRAIL UCRY TRANSFER YARD OGDEN IND. LEAD EVONA IND. LEAD EXCHANGE RD 36.7 ACRES 7.9 ACRES FUTURE TRANSLOAD SPURS 7.0 ACRES 1.4 ACRES 1.7 ACRES 16.0 ACRES 1.3 ACRES FUTURE SIGNALS FUTURE 7 LANE ROW EXISTING RAIL FUTURE RAIL EXISTING ROAD EXISTING TRAIL EXISTING CANAL PROPOSED ROAD POTENTIAL DEVELOPMENT AREA A AVE. G AVE. D AVE. 24TH STREET BRIDGE 14 - 65' CAR SPOTS 15 - 65' CAR SPOTS PROPOSED ROAD PROPOSED ROUNDABOUT B AVE. TRANSLOAD ACCESS EXISTING CANAL 13.9 ACRES PHASE I1 PHASE IB PHASE II P:\2011\11043F.01 Ogden City-Ogden City Rail Park\Drawings\Ogden City Base.dwg, 1/9/2013 11:03:12 AM, mmortensen ---PAGE BREAK--- TrackLine Business Park Project Estimated Available Tax Increment - FINAL APRIL 23,2013 Commercial Area Tax Increment calculation Base Year TAX YEAR 1 TAX YEAR 2 TAX YEAR 3 TAX YEAR 4 TAX YEAR 5 TAX YEAR 6 TAX YEAR 7 TAX YEAR 8 TAX YEAR 9 TAX YEAR 10 TAX YEAR 11 TAX YEAR 12 TAX YEAR 13 TAX YEAR 14 TAX YEAR 15 TAX YEAR 16 TAX YEAR 17 TAX YEAR 18 TAX YEAR 19 TAX YEAR 20 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 PROJECT REVENUES 1 WEBER CO - RATE 0.01738 0.018254 0.018254 0.018254 0.018254 0.018254 0.018254 0.018254 0.018254 0.018254 0.018254 0.018254 0.018254 0.018254 0.018254 0.018254 0.018254 0.018254 0.018254 0.018254 0.018254 2 W EBER CO - NET ASSESSMENT CHARGE 3 % W EBER - CO TAX BASE VALUE $9,792,418 PROJECT EXPENDITURES 4 REAL PROPERTY Land Acquisition - Phase 1 $5,850,000 Land Development - Phase 1 $4,700,000 $4,700,000 Land Acquisition - Phase 2 $3,878,000 Land Development - Phase 2 $2,750,000 5 Real Property - Area Total $10,550,000 $15,250,000 $15,250,000 $21,878,000 $21,878,000 $21,878,000 $21,878,000 $21,878,000 $21,878,000 $21,878,000 $21,878,000 $21,878,000 $21,878,000 $21,878,000 $21,878,000 $21,878,000 $21,878,000 $21,878,000 $21,878,000 Marginal Value (line 3-5) $757,582 $5,457,582 $5,457,582 $12,085,582 $12,085,582 $12,085,582 $12,085,582 $12,085,582 $12,085,582 $21,878,000 $21,878,000 $21,878,000 $21,878,000 $21,878,000 $21,878,000 $21,878,000 $21,878,000 $21,878,000 $21,878,000 Adjusted tax increment (100%) $757,582 $5,457,582 $5,457,582 $12,085,582 $12,085,582 $12,085,582 $12,085,582 $12,085,582 $12,085,582 $21,878,000 $21,878,000 $21,878,000 $21,878,000 $21,878,000 $21,878,000 $21,878,000 $21,878,000 $21,878,000 $21,878,000 Redevelopment Project Tax Rate 0.018254 0.018254 0.018254 0.018254 0.018254 0.018254 0.018254 0.018254 0.018254 0.018254 0.018254 0.018254 0.018254 0.018254 0.018254 0.018254 0.018254 0.018254 0.018254 Increment Value $13,828.90 $99,622.70 $99,622.70 $220,610.21 $220,610.21 $220,610.21 $220,610.21 $220,610.21 $220,610.21 $399,361.01 $399,361.01 $399,361.01 $399,361.01 $399,361.01 $399,361.01 $399,361.01 $399,361.01 $399,361.01 $399,361.01 $5,530,346 Housing (20%) $2,766 $19,925 $19,925 $44,122 $44,122 $44,122 $44,122 $44,122 $44,122 $79,872 $79,872 $79,872 $79,872 $79,872 $79,872 $79,872 $79,872 $79,872 $79,872 $1,106,069 20% Agency Administration $691 $4,981 $4,981 $11,031 $11,031 $11,031 $11,031 $11,031 $11,031 $19,968 $19,968 $19,968 $19,968 $19,968 $19,968 $19,968 $19,968 $19,968 $19,968 $276,517 5% 6 Total Tax Increment from Real Property $0 $10,372 $74,717 $74,717 $165,458 $165,458 $165,458 $165,458 $165,458 $165,458 $299,521 $299,521 $299,521 $299,521 $299,521 $299,521 $299,521 $299,521 $299,521 $299,521 $4,147,759 75% 7 PERSONAL PROPERTY/BUILDINGS Phase 1 - New Buildings $500,000 $4,500,000 $5,000,000 $5,000,000 $3,000,000 $2,000,000 Phase 2 - New Buildings $3,000,000 $3,000,000 $3,000,000 $2,000,000 Personal Property $450,000 $500,000 $500,000 $500,000 $500,000 $500,000 8 Personal Property/Buildings - Area Total $4,950,000 $10,450,000 $18,950,000 $25,450,000 $30,950,000 $33,450,000 $33,450,000 $33,450,000 $33,450,000 $33,450,000 $33,450,000 $33,450,000 $33,450,000 $33,450,000 $33,450,000 $33,450,000 $33,450,000 $33,450,000 Depreciation 3,861,000 8,151,000 14,781,000 19,851,000 24,141,000 26,091,000 26,091,000 26,091,000 26,091,000 26,091,000 26,091,000 26,091,000 26,091,000 26,091,000 26,091,000 26,091,000 26,091,000 26,091,000 Adjusted tax increment (100%) 3,861,000 8,151,000 14,781,000 19,851,000 24,141,000 26,091,000 26,091,000 26,091,000 26,091,000 26,091,000 26,091,000 26,091,000 26,091,000 26,091,000 26,091,000 26,091,000 26,091,000 26,091,000 Redevelopment Project Tax Rate 0.018254 0.018254 0.018254 0.018254 0.018254 0.018254 0.018254 0.018254 0.018254 0.018254 0.018254 0.018254 0.018254 0.018254 0.018254 0.018254 0.018254 0.018254 Increment Value $70,479 $148,788 $269,812 $362,360 $440,670 $476,265 $476,265 $476,265 $476,265 $476,265 $476,265 $476,265 $476,265 $476,265 $476,265 $476,265 $476,265 $476,265 $7,483,556 Housing (20%) $14,096 $29,758 $53,962 $72,472 $88,134 $95,253 $95,253 $95,253 $95,253 $95,253 $95,253 $95,253 $95,253 $95,253 $95,253 $95,253 $95,253 $95,253 $1,496,711 20% Agency Administration $3,524 $7,439 $13,491 $18,118 $22,033 $23,813 $23,813 $23,813 $23,813 $23,813 $23,813 $23,813 $23,813 $23,813 $23,813 $23,813 $23,813 $23,813 $374,178 5% 9 Total Tax Increment from Personal Property $52,859 $111,591 $202,359 $271,770 $330,502 $357,199 $357,199 $357,199 $357,199 $357,199 $357,199 $357,199 $357,199 $357,199 $357,199 $357,199 $357,199 $357,199 $5,612,667 75% 10 TOTAL TAX INCREMENT (6+9) $0 $0 $10,372 $127,576 $186,308 $367,817 $437,228 $495,960 $522,656 $522,656 $522,656 $656,720 $656,720 $656,720 $656,720 $656,720 $656,720 $656,720 $656,720 $656,720 $656,720 $9,760,426 Total Projected Tax Increment $13,013,902 Est. PV Available Tax Increment $7,815,812 Investment Schedule Total Cost Payment Development Incentive 7,000,000 $ annual Housing 2,602,780 $ annual RDA Admin 650,695 $ annual TOTAL Investment 10,253,475 $ AVAILABLE INCREMENT 13,013,902 $ Uncommitted Increment 2,760,426 $ ---PAGE BREAK--- OGDEN CITY REDEVELOPMENT AGENCY DATE: April 17, 2013 TO: Ogden Redevelopment Agency FROM: Tom Christopulos, CED Director THROUGH: Mark Johnson, Chief Administrative Officer RE: Trackline EDA STAFF CONTACT: Brandon Cooper, Deputy Manager-CED REQUESTED TIMELINE: April 23, 2013 DOCUMENTS: Resolution terminating old Golden Spike RDA DISCUSSION: Please find attached Resolution terminating the Golden Spike RDA. The Ogden City Redevelopment Agency created the Golden Spike Redevelopment Project Area on December 8, 1988. The Agency has never participated in any development projects nor collected any tax increment revenue from the Project Area. The Project Area has no budget, assets or liabilities and the RDA anticipates creating a new Economic Development Project Area (“Trackline”) comprising some of the same geographic boundaries previously included within the Golden Spike Project Area. For further information please contact Brandon Cooper at (801) 629-8947. ---PAGE BREAK--- RESOLUTION NO. 2013-7 A RESOLUTION OF THE OGDEN CITY REDEVELOPMENT AGENCY TERMINATING AND DISSOLVING THE GOLDEN SPIKE REDEVELOPMENT PROJECT AREA WHEREAS, the Ogden City Redevelopment Agency (“Agency”), created the Golden Spike Redevelopment Project Area (“Project Area”) on December 8, 1988; and WHEREAS, the Agency has never participated in any development projects nor collected any tax increment revenue from the Project Area; and WHEREAS, the Project Area has no budget, assets or liabilities; and WHEREAS, the Agency deems it in the best interest of the Agency and Ogden City that the Project Area be terminated and dissolved immediately upon adoption of this resolution; and WHEREAS, the RDA is simultaneously creating a new Economic Development Project Area (“Trackline”) comprising some geographic boundaries previously included within the Project Area. NOW, THEREFORE, the Ogden City Redevelopment Agency Board hereby approves and authorizes the immediate termination and dissolution of the Golden Spike Redevelopment Project Area covering the real property described on Exhibit A, attached and made part hereof. APPROVED AND ADOPTED this day of 2013. REDEVELOPMENT AGENCY BOARD CHAIR ATTEST: CITY RECORDER APPROVED AS TO FORM: _BF 4/19/13 LEGAL DATE ---PAGE BREAK--- SOUTHERN PACIFIC RAILROAD 20TH 2100 UNION PACIFIC RAILROAD EXCHANGE SKATE CAHOON 25TH C JAMES BROWN G E D F B A CAPITOL BEE SR 104 24TH Legend GOLDEN SPIKE RDA City Limit Area Boundary : GOLDEN SPIKE RDA