Every day the mall project does not move forward costs the City $6,989.17. This totals $2,551,045.83 per year (see details below) Because of these financial considerations, there is a serious sense of urgency to move this project forward.

Furthermore, the $7.1 million of RDA "haircut" money must be used by the end of this year or it will be lost. State law dictates that this money can only be used for things like the Recreation Center, and the City cannot fund roads, police, etc., with this money. Finally, we all want a vibrant downtown that is a source of pride for the community. The longer we delay the longer the heart of our city is filled with an empty dirt lot. The new Recreation Center and Mall projects will bring hundreds, if not thousands, of jobs downtown. These projects will also help the small businesses in the area be more succesful because of the patrons the Mall and Recreation Center will attract.

The Municipal Building Authority Bonds that are being proposed have no recourse obligation to the City or its taxpayers. The private partners bear the risk. Gold's Gym and Fat Cats are responsible for the payment of the bond. If default occurs, the bondholders would have to work out arrangements for someone else to step in and take over.

No. There are two funding sources for the approximately $16 million Recreation Center. Gold's Gym and Fat Cats will pay about $9 million, and the City will use existing RDA "haircut" money for the remaining $7 million. The RDA money is already in place, and by state law it can only be used for a very few things. The Recreation Center is a qualifying project. If the RDA money isn't used by the end of the year we lose our ability to use it.

Conversely, this project will be on the tax rolls and will generate significant property and sales tax for the community, in addition to creating more jobs.

It can, but the people of Ogden would have to pay the remaining $9 million to build the building, and then we would be liable for any operating shortfalls. We would also then be competing directly against the private sector.

The City not have a funding source for the additional $9 million. To raise this additional money the City would have to either raise taxes or cut services to the community. Additionally, if the City owned and operated the Recreation Center it would not be on the tax rolls and would generate no tax money. Finally, most communities lose money running their recreation centers, and if Ogden followed this pattern it would require even more money from taxpayers.

Yes.  There is nothing like this anywhere around.  We expect to see many people come from Salt Lake City and out of state because of the Recreation Center's unique nature.  This regional draw will help the entire mall project and downtown.