Sunday, December 11, 2011

Tuesday Night Ogden RDA Agenda Item: Ogden River Redevelopment Project Area Extension

We dunno why the Ogden RDA TEC committee "rolled over" again... maybe they were afraid that Godfrey would throw another of his "world famous" temper tantrums

To kick off this morning's Weber County Forum discussion, we'll dutifully highlight an important matter suddenly coming up, seemingly "out of the blue," on Tuesday night's 12/13 RDA/Council Study Session Agenda:

5. Reports from Administration:
b. Ogden River Redevelopment Project Area Extension. Proposed Resolution 2011-25 adopting an amended budget for the Ogden River Redevelopment Project Area as approved by the Taxing Entity Committee on November 10, 2011. (Set/not set public hearing for January 17, 2012 – voice vote)
There's an interesting notation buried in Tuesday night's RDA Board packet, revealing that the Godfrey administration has been "stealthily" working behind the scenes to make the RDA Board's scheduling of the proposed January 17, 2012 "public hearing" what will probably amount to a mere "formality":

November 10, 2011
The Taxing Entity Committee met on November 10, 2011. The TEC unanimously approved extension of the project area to 2027.
Thus the Godfrey administration has quietly succeeded in the veritable "dead of night" in persuading the RDA Taxing Entity Committee (TEC) to agree to recommend that the RDA Board extend the Ogden River Project Redevelopment Area tax increment period "through Tax Year 2027 (an Additional Eight (8) Years)"

Yesiree folks, in the waning days of the Godfrey administration, the Little Lord is tying up another "loose end." Just as in 2009, when this same committee voted to "bail out" the financially-floundering and taxpayer-burdensome Junction Project Money Pit, Boss Godfrey once again resorts to the same game plan and succeeds once again in getting the Ogden RDA TEC to meekly "roll over," thus depriving the taxing entities who depend on a reliable stream of tax revenue to defer collecting that revenue for another eight years... (thereby opening the door for yet another expensive round of Ogden RDA bond refinancing.)

Frankly, we don't know what's wrong with the members of the Taxing Entity Committee, whose primary ethical obligation ought to be the protection of the tax revenue streams of the entities whom they (theoretically, at least) are supposed to represent.

Maybe they were afraid that Godfrey would throw another of his "world famous" temper tantrums.

And while it is true that it'll be the Ogden RDA Board will have the final say on this, the proposed January 17, 2012 RDA "public hearing" will predictably be a "mere formality," as we said.

The floor's open, O Gentle Ones. Who will be the first to throw in their own 2¢?


althepal said...

Looks like another fat payday is coming up for bond counsel, underwriters and bankers, methinks.

Bob Becker said...

Hey, c'mon now.... If you were a Mayor who took great pride in having converted much of his city's downtown area into the Vacant Lot Capital of Northern Utah, wouldn't you want your accomplishment continued for nearly another decade or so if you could arrange it before you stepped down?

Dan S. said...

The newspapers have been missing a lot of important meetings lately. Also last month, WACOG endorsed a bait-and-switch with the transportation sales tax that we approved four years ago. Now it's less likely than ever that any of that money will be spent in Ogden.

Dan S. said...

Just looked over all the agenda packets for tomorrow's meetings, and there's a lot in there.

The River Project materials indicate that the project's budget has been cut from the original estimate of $105 million down to a revised estimate of $85 million. The projected tax annual tax increment has correspondingly decreased. About 28% of the tax increment is being passed on to the taxing entities, so they're not losing out completely. The debt to other city funds stands at $3.7 million and it says the city will have to shell out at least another $2 million, with "similar, if not greater, levels of public assistance" for the Lincoln-to-Wall phase.

Also on the RDA agenda is an agreement with the new anonymous owner of the Earnshaw Building for use of additional parking spaces, allocation of some parking structure space for a chiller, and an "aerial easement" for a pedestrian walkway between the parking structure and the building. It mentions that the number of condos in the building is being increased from 28 to 40.

The City Council special meeting agenda includes the long-awaited rezone of most of the city's public parks to the "open space" zone. This will provide some additional protection against any mayor who tries to sell off park land, because the land couldn't be developed without another rezone by the council.

The Council work session agenda includes a meeting with Laura Lewis, their water rates consultant, to review the current water rates and the work that went into establishing those rates four years ago. This is the first step in the process of revising the rates to address several concerns that have come up in recent months.

Smattguy said...

the pedestrian walkway is already in place...well at least the access for cars is...wonder if that is the same thing.  Wonder what they need space for a chiller for....someone forget something in the original design of the building????

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