The RDA created the 25th Street Redevelopment Project Area in 1979. It encompasses 38.04 acres of land. This Area was formed to assist in the redevelopment of the 25th Street Historic district, primarily through the construction of a 287-room Hilton Hotel. The RDA helped the development by assembling the necessary land, selling it to the developer, and financing the debt thus incurred through the issuance of tax increment bonds.

Ogden City sold land it owned on the block to the RDA for $348,971.70 and financed this sale with a note bearing interest at 8 percent annually. To obtain other privately owned parcels for the hotel and adjacent parking, the RDA borrowed $2,300,000 from Commercial Security Bank (CSB), $418,938.21 from Ogden City general funds, and $160,000 from the City's CDBG funds.

In 1981 the RDA issued a $1,000,000 tax exempt tax allocation bond and obtained a second conventional loan for $552,000, secured by RDA property and anticipated tax increment revenue. These two loans plus land sale proceeds and a $265,000 loan from the City to the RDA were used to pay off the original $2,300,000 CSB loan. In FY 82 and FY 83, the City loaned additional money to the RDA for payment of interest on outstanding loans. By FY 84 tax increment became sufficient to service the debt on these loans.

In June 1983 the City loaned the RDA $578,679.87 to pay off the outstanding balance of principal and accrued interest on the $552,000 CSB conventional loan, and this loan became an interest-bearing debt of the RDA.

The $1,000,000 bond was paid off in 1995. The full tax increment is now available for repayment of City debt. Since 1983 the RDA loans with the City have continued to accrue interest.

***CDBG provided 13.09 percent of the financing for this District. .