1400 North Main community reinvestment project area
Community reinvestment (tax-increment) area around the Cache Valley Mall site, designated a survey area in June 2023 and adopted July-August 2023. The agency budget caps revenue at $13 million over 20 years, with developer incentives for the Cache Valley Marketplace redevelopment.
- Where it stands
- Approved
- Type
- Area or general plan
- Location
- South of 1400 North to 1000 North, between Main Street and 200 East
- Size
- 51.29 acres
- Applicant
- Logan Redevelopment Agency
Every hearing and vote
May 16, 2023 · City Council
Redevelopment Agency: 1400 North Main survey area, Resolution 23-20 RDA
Discussed
Jensen presented a proposed survey area south of 1400 North to 1000 North between Main Street and 200 East, to study a possible community reinvestment project area. No eminent domain would be used, so no blight study is needed. Action was set for June 6.
June 6, 2023 · City Council
Redevelopment Agency: 1400 North Main survey area, Resolution 23-20 RDA
Approved · 3-0
The agency designated the area south of 1400 North to 1000 North between Main Street and 200 East as a survey area to study a possible community reinvestment project area. No eminent domain would be used, so no blight study was required. Council Members Simmonds and Jensen explained that such areas use property-tax increment to fund revitalization. López and Mark Anderson were absent from the agency vote.
July 18, 2023 · City Council
Redevelopment Agency: 1400 North Main Community Reinvestment Project Area Plan, Resolution 23-28 RDA (public hearing)
Approved · 5-0
Kirk Jensen presented the plan, which creates the project area but approves no specific project or budget. He estimated about $900,000 a year in added tax base after expiration, with the school district receiving about $1,000,000 a year; members asked about a $13 million figure described as tax-increment revenue over 20 years. Dr. Yost asked about the 200 East event center, and Mayor Daines said nothing would be torn down. Joel Nelson asked for better outreach and community space; Frances Bhushan questioned tax and traffic benefits, and the mayor said a signal would be installed only if a traffic study warrants it. A budget hearing was expected August 1.
August 1, 2023 · City Council
1400 North Main Community Reinvestment Project Area Plan, Ordinance 23-23
Approved · 4-0
Kirk Jensen presented projected agency spending of $13 million over 20 years and an estimated $900,000 a year of added tax base at expiration, including about $90,000 for the city and $150,000 for the school district. The recorded roll call lists Council Members Amy Anderson, Mark Anderson, Jensen and López voting aye and does not list Council Member Simmonds, although the minutes say the motion carried.
August 1, 2023 · City Council
Redevelopment Agency: 1400 North Main project area budget, Resolution 23-31 RDA (public hearing)
No action
A hearing was held on the project area budget for 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 (plus $500,000 from reserves) and $11,048,037 for developer incentives. Estimated payments to the agency: $9,564,100 from the school district, $1,844,700 from Cache County and $1,591,200 from the city. The minutes list a tax base impact of $735,000 a year at expiration, which differs from the $900,000 given in the council item. Blake Cameron, owner of a dental office on 1400 North, said the plan would block dumpster pickup; Joe Nelson, Katie Rae and Donna Berry asked for community space, green space and attention to traffic from 326 units at 200 East and 1400 North. No action was required.
August 15, 2023 · City Council
1400 North Main project area budget consent, Resolution 23-33
Approved · 4-0
The council consented to the project area budget only, not a commitment, which would come through an interlocal agreement in September. Figures included a $13 million revenue cap over 20 years, $500,000 in existing affordable housing reserves, $10.5 million in developer incentives, $500,000 for transportation, a $205 million Cache Valley Marketplace investment, $35 million in other development, administration at 5 percent, 35 income-targeted units and about $90,000 a year in added city tax base after expiration. Kirk Jensen said parks cannot be funded because they generate no tax increment, and that this was the fifth developer to consider the area.
September 5, 2023 · City Council
Redevelopment Agency: 1400 North Main project area budget, Resolution 23-36 RDA
Approved · 5-0
The agency consented to the project area budget: a 20-year term, $13 million revenue cap, no reduction to existing tax revenue for taxing entities, $500,000 in affordable housing reserves, $10.5 million in developer incentives, 5 percent administration, $500,000 for transportation and 35 income-targeted units. Kirk Jensen said it approves the budget structure only and no formal agreement exists yet. The minutes do not reconcile the $205 million investment figure with the $13 million cap. The consent request goes to the school district and county council on September 26 and the formal agreement to the council on September 19. No one spoke.
September 19, 2023 · City Council
Consent to tax increment for the 1400 North Main project area, Resolution 23-40
Approved · 5-0
The council consented to the use of tax increment for the project area, with a 20-year term, 5 percent of the increment for administration and 10 percent for housing. The minutes give a $1,591,200 cap, the city's estimated share. Economic Development Director Kirk Jensen also discussed timing of a closing on the mall sale, possibly in November.
October 17, 2023 · City Council
Redevelopment Agency: 1400 North Main interlocal agreements, Resolution 23-44 RDA (public hearing)
Approved · 5-0
The agency approved interlocal agreements for tax diversion in the 1400 North Main project area with Cache County, the Logan City School District and the city. The county and school district had already approved; an agreement with the developer, called Woodsonia in the minutes, was pending. The mayor said demolition was planned for March 2024 with a two-year build-out; Council Member Simmonds said a traffic impact study would be done. Dr. Yost asked about timeline, traffic and a required public access right.
November 7, 2023 · City Council
Redevelopment Agency: Woodsonia assistance, Resolution 23-46 RDA
Approved · 4-0
Economic Development Director Kirk Jensen presented assistance for a project of about 25.5 acres at roughly 1300 North Main with a 150,000-square-foot commercial building, a 98,000-square-foot hotel and retail building and about 346 apartments, 10 percent of them (34 units) affordable at 80 percent of area median income for the agency's 20-year term. Incentives include 100 percent of available tax increment capped at $10,010,000 and 100 percent of affordable housing reserves capped at $1,180,000, plus $500,000 from the affordable housing reserve; the minutes give an estimated reimbursement of $3,811,000. Council members asked about retailer disclosure, affordability duration and the cap, and the mayor noted the developer could opt out after the term.