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Show 2 Weber School District property deals fueling commercial ventures Land in N. Ogden, Marriott-Slaterville in midst of change By BECKY WRIGHT Standard-Examiner staff The Weber School Board is selling a piece of land in North Ogden and looking at signing on to a Community Development Area plan with Marriott-Slaterville. The land being sold is in the Coldwater area of North Ogden, near 2700 North and 1200 East. District spokesman Nate Taggart the land had been purchased in case a school was needed in the area, but that has been deemed necessary, so the parcel is being sold. The undeveloped land was appraised at $750,000. "We asked for that amount, and that's what it came in at," Taggart said. E.K. Bailey Construction is purchasing the property. "I can't speak for them, but I do know they are home builders," Taggart said. A call to E.K. Bailey Construction for details about plans for the land was not returned. Meanwhile, the Marriott-Slaterville Community Development Area plan, proposed by the Redevelopment Agency of Marriott-Slaterville city, is an agreement to use tax increment revenues to provide incentives to developers for a property is just west of Interstate 15, between 700 and 1200 South. "Basically, they're coming to us and saying, 'We want you to give up some of your property tax to develop our property so this buyer will put their business in,'" the board's president, Brent Richardson, said in explaining the proposal to other board members during a May 6 work session. The current property value on the approximately 43 acres is about $2.8 million. If the CDA is approved, the developer will get 65 percent of the tax increment and the school district will get 35 percent. However, because the property value is expected to go up, the district should get more money. "The first year, because we get a five-year rollback, we will get $66,892," Richardson said. The second year of the CDA, the school district's share will drop to $14,704. The tax income will gradually increase to $21,593 per year over the course of the 15-year agreement. When the agreement ends and the school district goes back to receiving 100 percent of taxes paid on the property, the yearly total is expected to start at $63,546. "We all know that no one pays enough property taxes from their own house to educate their own chil dren," Richardson said. "It takes a village to educate a child, and particularly a commercial village." The CDA agreement is expected to be on the Weber School Board's agenda for the June meeting. The Weber County Commission recently approved an agreement with Marriott-Slaterville for the county portion of the CDA. Contact reporter Becky Wright at 801-625-4274 or bwright@standard.net. Follow her on Twitter at @Re- porterBWright. |
