Newgate Mall
REDEVELOPMENT PROJECT AREA #3 NEWGATE MALL
The Newgate Mall Redevelopment Project Area was established in July 1980 and
encompassed 103.56 acres. This Area was established to assist with development
of the Newgate Mall. The RDA participated by providing funding to construct
storm sewer and water systems for the project area.
This Area is the first redevelopment project area in Ogden to satisfy all debt
obligations. The final debt for this Area was paid from tax increment in March
1991.
With the retirement of all RDA debt associated with the Newgate Mall project,
the taxes generated from the increased assessed value of the Area will now go
to the various taxing entities in the City and County. Because of this project,
these entities will enjoy a total annual increase in revenues of approximately
$400,000.
The success of the Newgate Mall Redevelopment Area demonstrates the benefits
that a community can enjoy from redevelopment. Land was redeveloped. The RDA
debt was amortized. And, the tax rolls were fortified by the improvements made
in this Area. |