At the gentle urging of yet another sharp-eyed WCF reader who, as an added bonus, actually resides in Ogden Valley, we'll shine the spotlight on a possibly troubling Salt Lake Tribune story that's now been simmering on our discussion-queue "back-burner" for the past week or so. On the heels of the Weber County Commission's March 26 decision to issue a $22.5 million assessment bond to fund public road, water and sewer improvements in and around the Summit Group's 1500 acre Powder Mountain property, and in the wake of recently "touchy" relations between that invester/developer group and certain Eden residents stemming from "a little too much alleged hard partying" in a formerly quiet Eden residential neighborhood, here's the 5/10/13 Cathy McKitrick story that's providing our Gentle Reader (and a few other Ogden Valley residents) the most recent added heartburn:
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| Welfare for the Rich |
Although Ogden City residents have again become very recently familiar with the the inherent perils of even at least ostensibly well-intended tax increment financing schemes, here's a fairly decent Wikipedia mini-treatise for those WCF readers who might not be suitably "edumacated" on the subject:
That's it for now, folks. Suffice it to say we'll be checking up on this weirdly and potentially cronycapitalist story as it develops.
So what about you, O Gentle Ones? Insofar as this story has developed, do you see any "red" flags?
Or alternatively... is this a good idea?
