In 2023 Logan approved a 20-year, $13 million tax increment area on North Main

On Aug. 1, 2023, the Redevelopment Agency held a hearing on a budget for the 1400 North Main project area of about 51.29 acres: a $13,000,000 tax increment request over 20 years, with $649,841 for administration, $1,302,122 for affordable housing, $500,000 from reserves and $11,048,037 for developer incentives. ^[1]

Estimated payments to the agency were $9,564,100 from the school district, $1,844,700 from Cache County and $1,591,200 from the city. ^[1]

Approvals

On Sept. 5, 2023, the agency consented to a budget with a 20-year term and a $13 million revenue cap, and Economic Development Director Kirk Jensen said it set the budget structure and no agreement existed yet. On Sept. 19 the council consented to the use of the city's tax increment, with the minutes listing a $1,591,200 cap. ^[2][3]

On Oct. 17, 2023, the agency approved interlocal agreements with Cache County, the Logan City School District and the city. ^[4]

On Nov. 7, 2023, the agency heard assistance for a project of about 25.5 acres at roughly 1300 North Main with a 150,000-square-foot commercial building, a hotel and retail building and about 346 apartments, 34 of them affordable. Incentives include 100 percent of available tax increment capped at $10,010,000. On Nov. 21 the agency approved drawing $500,000 from affordable housing reserves toward the project. ^[5][6]

Since then

On Sept. 1, 2026, the agency carried forward $50,000 in the area for its share of a turn lane serving the Cache Valley Marketplace project. ^[7]