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Community Development Department Director
HQ Phone:  (801) 629-8100
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2549 Washington Boulevard
Ogden is the center for business and government in Weber County and for much of northern Utah. Employment continues to be on the rise, with Ogden being ranked #10 in the nation for jobs created in 2008. It's no wonder that Ogden's employers, from smallest to l... more.
Richard McConkie: Ogden City Director of Community and Economic Development.
Deputy Director Richard McConkie: 629-8911
The proposal would extend the life of the district from the current 2014 expiration to 2026, said Richard McConkie, deputy director of community and economic development for Ogden.
The Junction redevelopment project area extends from 22nd to 24th streets between Washington Boulevard and Grant Avenue. The city currently receives about $1 million in tax increment annually from existing businesses at The Junction. However, it hasn't obtained any lease revenue from the Boyer Co., which is developing most of the project's retail buildings, McConkie said. Although tax increment from The Junction nearly matches projections made when the city bought the mall property, it was expected that annual lease payments from Boyer would be at least $200,000 a year by now, McConkie said. The city and Boyer agreed to split lease profits, but retail space at The Junction remains largely unoccupied because of the difficulty in attracting tenants due to the economic downturn, he said. As a result, McConkie told the eight-member Ogden City Redevelopment Agency Taxing Entity Committee in June, the city is shouldering a huge financial burden because revenue to pay The Junction's bond interest costs is significantly below expectations. 'Need some relief' McConkie told the Standard-Examiner in an interview Friday those comments were meant to convince the taxing entity committee of the importance of extending the life of The Junction project area. "My intention was to show that we need some relief," he said. McConkie agrees tax increment financing has little impact on residents. "For the little old lady on Jefferson Avenue, we are not taking her property taxes to pay for this," he said. McConkie said since the city's purchase of the Ogden mall site in 2001 for $6 million, improvements have been made that have increased the property's taxable value to $60 million. That wouldn't have happened without tax increment financing, he said. The city's bond payments for The Junction were about $1.8 million in 2008, McConkie said. Tax increment contributed about $1 million toward the payment and the rest was funded through lease revenues from Business Depot Ogden, he said. Extending the project area until 2026 could generate through tax increment, assuming the economy rebounds in a reasonable time, about 60 percent of the revenue required for The Junction's bond debt, McConkie said. The balance of the revenue needed for the debt would come from lease revenues at The Junction and BDO, he added. In addition to mitigation payments, the city may also be willing to donate to the Ogden School District nearly nine acres at the corner of 20th Street and Jackson Avenue that once housed Naval and Army reserve facilities for the construction of a new school, McConkie said. McConkie explained there are three bonds in place with about $2 million in debt service on the $22.4
In fiscal 2009, the city will allocate about $600,000 in lease revenue proceeds from Business Depot Ogden to subsidize $22.4 million in bonds toward the municipality's ownership of land at The Junction, said Richard McConkie, Ogden's deputy director of economic and community development.
Standard Examiner: Owner Transforms Grand Hotel Into A 25th Street Showplace - 801-658-8000 - Keller Williams Commercial Ogden
Richard McConkie, the city's deputy director of community and economic development, said renovations at The Grand will benefit Historic 25th Street.
The RDA contract with Ogden Properties allows it to buy the hotel for $332,000 plus verified expenses for capital improvements, McConkie said. However, additional costs submitted by Ogden Properties for the Windsor have not been validated and the RDA has no plans to buy the hotel, he said.