Incentives and economic development discussed on Speak to the Mayor

Kirk Jensen

Logan City Economic Development Director Kirk Jensen  joined Logan mayor Holly Daines on the monthly Speak to the Mayor program on Wednesday on KVNU.    The mayor  said they sometimes get a question from the public  as to why the city gives tax breaks to some developers.  Jensen said there’s a misconception because it looks like a big tax giveaway if the city enters into a development agreement with some incentives  for a developer.

“However when you create one of these areas,  which we did….down on South Main just north of the existing Riverwoods…the tax revenue that currently exists on those parcels, in effect the taxing entities are held harmless.  So they will receive their respective portion of that property tax as they always have”, explained Jensen.

He said once that area is created some of the new property tax as negotiated between the Redevelopment area of Logan and the taxing entities will flow into the agency’s coffers to stimulate economic development, to offer incentives or put in infrastructure.  In the case of development on South Main there’s a river restoration element to the project.

Daines said many would like things to stay the same but the city is growing and things are changing.  So the challenge is how to address that.  One way she said is with new zoning areas like the Town Center Zone downtown.

“And also Logan being an older city in the center, our infrastructure is aging.  We do need to replace that and we’re starting to do that.  We’re going to start work on Center Street just one block at  a time (Main) to (100 West) and really re-do the whole street”, she said.

The mayor said the project begins on August 5th and will affect that part of Center street for a couple months.  She acknowledges it will be an inconvenience,  but that’s how you reinvest and reinvent and try to move into the next generation.

AUDIO: Logan mayor Holly Daines and city economic development director Kirk Jensen talk to Jason Williams

 

 

 

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