Weber County adopted the Nordic Village Community Reinvestment Area (CRA) to support sustainable development near Nordic Valley Ski Resort using tax increment financing (TIF). It marks the first CRA under Weber County's policy to foster strategic, long-term growth.
Ogden, Utah, January 7, 2025
Weber County has adopted the Nordic Village Community Reinvestment Area (CRA) during a commission meeting held on December 31, 2024. The project area, located in and around Nordic Valley Ski Resort, will utilize tax increment financing by redirecting future property tax revenue increases from the project area to fund infrastructure for long-term sustainability.
This project marks the first county CRA created under the County’s new policy, which aims to support project areas by offering public infrastructure development assistance through tax increment financing (TIF).
“The Nordic Village project is an excellent example of how TIF can promote long-term economic and environmental sustainability through strategic development practices,” said Stephanie Russell, Weber County's economic development director.
The TIF generated from this project area will help fund essential infrastructure projects, including a much-needed wastewater and water reuse treatment system for the surrounding area, water and sewer conveyance systems, road enhancements and the development of parks and trails.Additionally, the CRA will facilitate the construction of 50 on-site employee housing units, further contributing to the area's development and sustainability.The participating taxing entities are Weber County, Weber School District, Weber Basin Water Conservancy District and Weber Fire District.
The County will participate in the tax increment for 15 years, with 75% of the future property tax increment revenue from the project area going toward infrastructure improvements within and around the project area. The other entities will also participate for 15 years, with a 50% participation rate for the tax increment.
The project is a resort-oriented development being pursued by Nordic Village Venture, LLC and is located in the vicinity of 3567 E Nordic Valley Rd. in unincorporated Weber County.
It is in accordance with the Ogden Valley General Plan, which identifies the “need for a variety of progressive resort developments” in the Ogden Valley. It is also in alignment with a recent re-zone of the property in the Nordic Village area adopted by the Weber County Commission.
The project is comprised of roughly 512 acres. The projected economic impact will include $122 million in public infrastructure, $283 million in new residential capital spending, $160 million in new job wages and $28 million in construction wages.