Ogden council weighs New Markets Tax Credit financing worth about $2.1 million for Marshall White Community Center
March 25, 2025, 4:00 p.m. · City Council Work Room, 2549 Washington Boulevard, Ogden
In a joint work session with the Municipal Building Authority, the council discussed a plan to use federal New Markets Tax Credits to bring in about $2.1 million of investor funding for parts of the Marshall White Community Center that were cut for budget reasons. The plan needs a lease to a special purpose entity and a $6.88 million leverage loan from the Municipal Building Authority, repaid at the end of a seven-year compliance period. No votes were taken. Members also said they wanted advisory committee and public input before approving the fieldhouse name.
From the approved minutes. Updated October 14, 2026.
Decisions at a glance
Agenda, item by item
Contract
New Markets Tax Credits for Marshall White Community Center
Discussed
The administration proposes using the federal New Markets Tax Credit program to receive about $2.1 million in investor funding to complete elements of the community center cut for budget reasons. Required council actions include authorizing a lease of the center to a special purpose entity and, acting as the Municipal Building Authority board, a fiscal 2025 budget amendment funding a $6.88 million leverage loan that would be repaid at the end of the seven-year compliance period. Cody Rogers, an attorney with Stinson LLP who has worked on the matter for the city, explained the structure. Members asked about the role of a financial institution, the city's risk, the stability of federal programs, interest rates and prepayment penalties, the special purpose entity's board, keeping loan proceeds separate from general funds and loan terms.
- Grant$2.10 million
- Budget$6.88 million
Parks
Naming of the Marshall White Community Center fieldhouse
Discussed
Council members questioned the lack of council involvement in arriving at the proposed name for Officer Nathan Lyday and said they wanted input from the Marshall White Center Advisory Committee and the public before acting. Council Executive Director Eller-Smith said an action item would be on the next council agenda.