General Information

Government Type

Municipality

Entity

Logan

Public Body

Municipal Council

Notice Information

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Notice Title

Notice of 1400 North Main Community Reinvestment Project Area Budget Hearing

Notice Tags

Budgeting

Notice Type(s)

Notice, Meeting, Hearing

Event Start Date & Time

August 1, 2023 06:30 PM

Description/Agenda

NOTICE OF 1400 NORTH MAIN COMMUNITY REINVESTMENT PROJECT AREA BUDGET HEARING Public notice is hereby given that on the 1 day of August 2023 at 6:30 P.M., at the Municipal Council Chambers, Logan City Hall, 290 North 100 West, Logan, Utah, the Logan Redevelopment Agency (Agency) of the City of Logan, Cache County, Utah will hold a public hearing for the purpose of receiving comments on the proposed budget for the 1400 NORTH MAIN COMMUNITY REINVESTMENT PROJECT AREA (Project Area), located approximately in the area between 1250 North and 1400 North and Main Street and 200 East; the area between 1120 North and 1250 North and 150 East and 200 East; and the area between 1000 North and 1120 North and 100 East and 200 East in Logan, Utah. The Project Area consists of approximately 51.29 acres of predominately privately owned land. A map of the Project Area is attached as Exhibit 'A'. The Project Area Budget is attached as Exhibit B. The property tax revenues resulting from an increase in valuation of property within the Project Area will be paid to the Agency for Project Area development rather than to the taxing entity to which the tax revenues would otherwise have been paid: if the taxing entities consent to the Project Area budget; the taxing entities agree to share property tax revenue under an interlocal agreement; and the Project Area Plan provides for the Agency to receive tax increment. The Agency has requested $13,000,000.00 in property tax revenues that will be generated by development within the Project Area to fund a portion of the project costs within the Project Area. These property tax revenues will be used for the following: Agency administrative expenses: $649,841.00; affordable housing: $1,302,122.00 (and an additional $500,000.00 from the Agency's Affordable Housing Reserves); private developer incentives: $11,048,037.00. These property taxes will be taxes levied by the following governmental entities, and, assuming current tax rates, the taxes paid to the Agency for this Project Area from each taxing entity will be as follows: Logan City School District $9,564,100.00; Cache County $1,844,700.00; City of Logan $1,591,200.00. All of the property taxes to be paid to the Agency for the development in the Project Area are taxes that will be generated only if the Project Area is developed. All concerned citizens are invited to attend the Project Area budget hearing scheduled as noted above. A copy of the Project Area budget is available for inspection at the Agency offices located at 290 North 100 West, Logan, Utah at the offices of the Economic Development Department. To obtain a hard copy or an electronic printable copy of the Project Area Budget, including the specific description of the boundaries and map at no cost by mail, email, or Fax; or to obtain other information regarding the proposed Project Area you can contact Kirk Jensen, Executive Director for the Logan Redevelopment Agency: By phone: (435) 716-9015 By mail: 290 North 100 West, Logan, Utah 84321 By email: kirk.jensen@loganutah.org An electronic, printable copy of the Project Area map, budget, boundary description and other related information can also be obtained through the City of Logan website at www.loganutah.org.

Notice of Special Accommodations (ADA)

Individuals needing special accommodations should notify Teresa Harris, 435-716-9002, at least two working days prior to the meeting. Hearing enhancement devices are available on request.

Notice of Electronic or Telephone Participation

A council member may join a meeting electronically upon proper notice of the meeting and 24-hour notice to councilmembers. A council member participating electronically will be connected to the meeting by telephone.

Meeting Information

Meeting Location

290 North 100 West
Logan, UT 84321
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Contact Name

Teresa Harris

Contact Email

teresa.harris@loganutah.org

Contact Phone

(435)716-9002

Notice Posting Details

Notice Posted On

June 28, 2023 10:08 AM

Notice Last Edited On

June 28, 2023 10:08 AM

Audio File Address

Audio File Location

https://www.youtube.com/channel/UCFLPAOK5eawKS_RDBU0stRQ

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