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Ogden's proposed 14-story, 300-room hotel and adjoining water park has the potential to bring in nearly $2 million a year to the city in property taxes -- if, as hoped, the hotel and water park are moneymakers.

That could mean $391,000 for the city each year, and $1 million for the Ogden School District, reports the Standard-Examiner's Scott Schwebke.

Of course, those numbers are coming from the chief developer, Midtown Development, but if the company delivers it'll be good for Ogden.

Whatever squabbles there have been over the method of Ogden's recent growth, it is clear that the financial responsibility for the hotel/water park is Midtown Development's. The company will buy 1.7 acres for the hotel at the northwest corner of 23rd Street and Washington from Junction City's Redevelopment Agency board for $1.7 million. The RDA, in return, will provide Midtown a $1.2 million interest-free loan for construction. That loan is due three years after the hotel is approved for occupancy. If it's not paid by that deadline, there is a 10 percent annual interest charge.

The water park is to be built on the northeast corner of 23rd Street and Washington; a skywalk across Washington will be constructed to provide access between the hotel and water park. The water park, which would include slides, a lazy river, a spa, a raft ride and a souped-up version of the flow rider currently operating at the Salomon Center, is expected to employ between 75 and 125 people. It would have a Key West theme, and be built in two phases.

Midtown Development, based in Orem, and Milwaukee-based Wave Development LLC -- the latter slated to build the water park along with Horizon Construction -- are established companies. Wave Development has completed 11 other projects, Horizon has 13 projects on its résumé. Midtown also has an option -- that would not be paid for with city money -- to build an urban gondola stop that would serve The Junction.

The city appears poised to back Midtown's bet: If the Ogden Redevelopment Agency Board -- its members are the Ogden City Council -- approves a proposed development agreement for Midtown Village -- part of the package will involve $18 million worth of city-issued bonds to build two parking structures, one on each side of Washington Boulevard. One garage would benefit the hotel, and part of the other would serve as parking for the water park.

Ogden City Councilwoman Dorrene Jeske, who has often clashed with Mayor Matthew Godfrey in the past, told the Standard-Examiner's Schwebke she's "pleased that Ogden is at the point where it doesn't have to use tax increment to entice businesses to come."

True, the $18 million for the parking structures won't be repaid with tax-increment funding, but the mechanism is comparable: The city would create a "special assessment" area, levying an assessment against properties in the location to be improved -- the hotel and water park, as well as other developments that would use the parking -- to repay the costs of the projects. The continued financial well-being of the hotel and water park will be necessary for the city-issued bonds to be repaid in full.

It will be a great day when Ogden really does turn that corner of success and developers will build their structures even without the contribution of city-guaranteed funding.

Ogden has enjoyed a growth spurt the past several years. While a close eye should always be kept on the city's future plans, we are optimistic with the progress at The Junction, the planned hotel, water park, new companies and other projects.

City officials, business leaders, volunteers and others who have worked to promote Ogden deserve commendation.

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