Thanks to the efforts of regular contributor Curmudgeon, we are delighted this morning to be able present for our readers a report on last night's council work session, where the topics of a proposed tax increment incentive to Adams Air to move a second facility here, and Ogden's being asked to pass a resolution in support of the Transportation Tax Referendum were discussed, along with other agenda items.
We'll incorporate Curmudgeon's lead paragraphs here:
The City Council work session began, tonight, with Ms. Janine Eller of Management Service, presenting the annual real property report [report on real property sold or acquired by all city agencies over the previous fiscal year.] Third on the agenda [I’ll get to second in a moment], Ms. Laura Lewis of LYR&B delivered a long briefing called “Municipal Bonding 101" discussing various kinds of municipal bonds and debt, interest rates, funding options, benefits and advantages and drawbacks of each. This was in anticipation, I gathered, of Ogden’s facing significant costs next year to finance the rebuilding of its water and sewer systems.Read Curmudgeon's full report.
Second on the agenda was an RDA Board session with Mr. Harmer discussing a request for Ogden to grant Adams Aircraft approximately $900,000 in tax increment rebates as an inducement to move all of its manufacturing facilities, and its manufacturing headquarters to Ogden. Mr. Harmer summarized the situation this way: Adams is currently moving its production facilities for one of its two aircraft under production/development to Ogden. It has already received [via Kemp] tax increment incentives for doing that. Got incentives from the state as well. However, it also has a plant in Pueblo, CO for which it got incentives as well. Some of the parts for both models under production will be manufactured at Pueblo and shipped to Ogden for assembly. Some of the company’s management thinks it might be more efficient to move its entire manufacturing operation to Ogden, and its manufacturing division HQ as well. The Company Board, however, is not convinced because of the up-front cash cost of doing that. It will have to repay Pueblo the $2,000,000 in incentives it got to move its manufacturing plant there, plus interest. It will have to, for a time, finance duplicate tooling [so Pueblo can continue to operate until Ogden comes on line.] And so on. The Board figures the total cash outlay to move it all to Ogden would be an additional $12,000,000, which it is willing to consider, if the company management can find a way to offset a substantial portion of that figure. [...]
We'll also briefly highlight, without editorial comment, three items appearing this morning in the Standard-Examiner:
1) Scott Schwebke provides additional information on the Adams Aircraft topic discussed in Curmudgeon's above report here.
2) For a full load of B.S., read the Std-Ex guest editorial of Dave Hardman, President and CEO of the Ogden/Weber Chamber of Commerce, wherein the poor misguided gondolist provides a prolonged whine about mayoral candidate Van Hooser's decision to decline an invitation for a Chamber sponsored debate.
3) Boss Godfrey's administration continues to stonewall the Ogden Sierra Club's continuing efforts to obtain even the most basic information about the operations of Ogden City government. Scott Schwebke's page C-1 story on this topic can be viewed here.
We have a packed calender today and we're thus posting this article on the fly. In the event that we've missed an important news item or two, we know we can rely upon or readers to fill in the rest. And as always, you are all invited to treat this article as an open topic thread.
It's all yours, gentle readers. Web surfers all over the blogosphere are waiting to know what's on the minds of Weber County Forum readers this Friday morning.