An Ogden company, consisting of hundreds of employees in Utah and around the world, is looking for financial assistance from the Logan Redevelopment Agency (RDA) to expand into the downtown area.
MarketStar Holdings, LLC operates as a sales, marketing, and process outsourcing agency. The company was recently acquired by Dell Loy Hansen, CEO of The Wasatch Group and developer of the downtown Logan Riverwalk project.
The Wasatch Group is proposing to build a 30,000 square-foot office building at 405 South 100 East in the South Main Community Reinvestment Project Area (CPRA). The building would house MarketStar and 120 employees, with the potential to grow up to 300 employees in five years.
“It’s a great company. They offer good jobs,” said Economic Development Director Kirk Jensen. “It brings some good jobs to that area and I think it’s also some good spillover benefit for our downtown.”
The RDA has already agreed to participate with some of the redevelopment costs of the CPRA which consists of a new 112 room hotel and commercial office space. The Wasatch Group is looking for additional assistance for the proposed office building, which was recently recommended by the Economic Development Committee.
A resolution presented to the city council on Tuesday and expected to be approved on July 16 states in part:
NOW THEREFORE BE IT RESOLVED, that the Redevelopment Agency of the City of Logan does hereby approve the following incentive package:
MarketStar Holdings, LLC will receive l 00% of the available property tax increment generated by its Project annually during the life of the CRPA, not to exceed $300,000. Available tax increment is defined as the total tax increment generated by the Project during the life of the CRP A and received by the Agency minus 10% that is required to be allocated for affordable housing and 5% which is used for administrative costs.
All construction plans are to be approved by the City of Logan Planning Commission.
Additionally, the Redevelopment Agency encourages MarketStar Holdings, LLC to utilize local contractors and vendors whenever possible.
“Bringing all those new jobs into proximity to downtown is going to drive demand for housing and other needed services and things that may be missing in the downtown area, too,” according to Jensen.
It may bring new jobs and housing to the area, but Councilmember Herm Olsen said, “It’s going make traffic hell on 1st East and 3rd South. I’m just describing reality,” he said. “It’s coming and it’s going to be miserable.”
“I don’t know about miserable,” said Jensen “Maybe that will warrant more traffic lights in the future. We are a growing city.”
MarketStar is looking to set up temporary office space in Logan within the next six months.