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Ogden City and its affiliates offer business assistance for highly selective projects using various tools including:
- Tax increment funding for targeted economic development projects
- Special Assessment Area for targeted economic and community development projects
- Permanent loans for commercial real estate projects
- Interim loans for rehabilitation of commercial or residential projects
- Equity substitution or enhancement loans
- Bridge loans
- Sales tax revenue bonds
- Mini permanent loans for targeted economic and community development projects
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Small business development loans
At a minimum, these tools require developers to demonstrate the following:
- Project can qualify and demonstrate the need for public assistance
- Financial capacity sufficient to bring the project to fruition if assisted
- Supports community development or economic development goals
- Sufficient experience and knowledge of the development process
- Approval of the governing body; either the RDA Board or City Council
- Above average pay levels in jobs created
- Amplifies the City’s vision and mission
In addition, the City provides extensive business planning and development services assisting hundreds of businesses annually to start, develop and expand marketing opportunities.
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