The Standard-Examiner reports this morning that Ogden City has inked lease agreements to place two new retail operations to downtown Ogden, (one in the Junction Money Pit, and one across Washington Boulevard within the East Washington Redevelopment District. ) In addition, we are informed by Mr. Schwebke that negotiations are also underway to bring yet a third unnamed "business" to the Junction property:
• Ogden getting three new retail outletsConspicuously displayed in the middle of this morning's story is this revelation, which reveals that Ogden taxpayers are likely to provide much of the seed money to start up these new downtown businesses:
G4G and Ogden ROX will likely be the first businesses to take advantage of the city's new $315,000 tenant improvement loan program, said Tom Christopulos, Ogden's business development manager.The beat goes on... the Boss Godfrey Administration continues to use taxpayer dollars to subsidize newly arriving private business operations. Despite the $2 million+ plus payroll, Ogden City's bloated Economic Development Department continues to take the low road, and persists in following the grubby practice of providing corporate welfare to weakling business startups.
How much taxpayer money will the Ogden administration devote to these new businesses? A trusted source tells us that the amount for the first two will be over $315 thousand.
Did the Godfrey administration even run a credit check on this Gary Barsdorf guy?
Somehow... we doubt it.
Update 9/22/10 9:52 a.m.: For an informative discussion which fully fleshes out the issues involved in these "tenant improvement loans," view the September 7, 2010 city council video (fast forward to 30:00):
• 09/07 City Council Regular Session video
