Ogden Redevelopment Agency Press Release

FOR IMMEDIATE RELEASE
Contact: Bill Cook (801) 629-8734

REDEVELOPMENT AGENCY SCHEDULES CONSIDERATION OF FINANCING FOR PROPOSED RECREATION CENTER AND REFINANCING OF EXISTING DEBT

OGDEN, Utah (October 20, 2005)—The Ogden Redevelopment Agency Board (RDA) has received a proposal for financing the proposed recreation center and refinancing of other debt. Consideration of the total financing package will begin at a Special Redevelopment Agency meeting scheduled for November 22, 2005, beginning at 5:00p.m., Ogden Municipal Building, 2549 Washington Blvd., Suite #340 (Council Chambers).

In honoring their public process, the RDA Board has made an exception by publishing the notice of this meeting outside their normal process. “We are considering the interests of every citizen who wishes to participate but could possibly be out of town for holiday travel after Thanksgiving,” said Chair Rick Safsten. “Our normal RDA process and timeframe would have resulted in this meeting being scheduled for November 29, 2005.”

In addition to the November 22nd meeting, the Board has scheduled several other public meeting opportunities for citizens to learn more about the elements of the proposed financing structure. Following is a schedule and brief explanation of each opportunity:

* SPECIAL REDEVELOPMENT AGENCY MEETING (Tuesday, October 25, 2005, 5:00p.m.) Ogden Municipal Building, 2549 Washington Blvd., Third Floor, Suite #340 (Council Chambers)
-Presentation of the financing proposal.
-Consideration of bond parameters resolutions.
-Public input during “Public Comments” at the end of the meeting.

* RDA WORK SESSION (Tuesday, November 1, 2005, immediately following the Council Meeting which begins at 5:00p.m.)
Ogden City Municipal Building, 2549 Washington Blvd., Third Floor, Conference Room #310

-RDA Board Members will discuss the proposal and ask additional questions.
-No public input at this meeting.

* PUBLIC OPEN HOUSE (Wednesday, November 9, 2005, 7:00p.m.)
Union Station, 2501 Wall Ave., Browning Theater (located at north end)
-Educational presentation for citizens regarding the proposal.
-Question and answer session will be included. Comment forms will be provided for input to the City Council.

* REDEVELOPMENT AGENCY SPECIAL MEETING (Tuesday, November 15, 2005, 5:00p.m.)
Ogden Municipal Building, 2549 Washington Blvd., Third Floor, Suite #340 (Council Chambers)
-Public input at the beginning of the meeting regarding the proposed restructuring of BDO tax increment bonds.

-RDA Board consideration of the restructuring of BDO tax increment bonds.

* PUBLIC OPEN HOUSE (Wednesday, November 16, 2005, 6:00p.m.)
Mt. Ogden Middle School, 3260 Harrison Blvd., Auditorium
-Educational presentation for citizens regarding the proposal.
-Question and answer session will be included. Comment forms will be provided for input to the City Council.

* REDEVELOPMENT AGENCY SPECIAL MEETING (Tuesday, November 22, 2005, 5:00p.m.)
Ogden Municipal Building, 2549 Washington Blvd., Third Floor, Suite #340 (Council Chambers)

-Public input at the beginning of the meeting.
-RDA Board begins consideration of the recreation center and mall financing proposal.

END