Acting as the Logan Redevelopment Agency on Tuesday, the members of the city council voted a $350,000 grant to the developer of a proposed residential complex on 100 East Street (Artist’s rendering courtesy of L59 Multifamily LLC).
LOGAN – The City of Logan is moving forward with multiple projects intended to further its goal of promoting residential living in the downtown area.
Acting in their capacity as the Logan Redevelopment Agency (RDA), the members of the city council voted Tuesday to provide a grant in the amount of $350,000 to a proposed multi-family residential project at 159 South and 100 East in Logan.
That project, being proposed by L59 Multifamily LLC, would create a 108-unit apartment complex and 10 town homes fronting on 100 East Street.
Also on Tuesday, the RDA panel began consideration of a grant in the amount of $150,000 to 300 North Main LLC to facilitate the demolition of structures at 25 West, 300 North and at 339 North Main Street.
Those projects are in addition to the so-called Mill Creek residential complex already under construction near the corner of 100 South and 100 West. That project garnered a $500,000 grant from the RDA in September.
Kirk Jensen, the city’s economic development director, explained that the funding for both the L59 and Mill Creek grants came from RDA financial reserves earmarked for affordable housing.
Under questioning from city resident Dr. Gail Yost during a public hearing via Zoom technology, Kirk Jensen defended the financial assistance to L59 Multifamily LLC by saying that state law authorizes grants from affordable housing funds to developments being constructed in areas that have been officially recognized as blighted in a previous RDA study.
At the suggestion of council member Tom Jensen, the only string attached to the RDA grant to L59 Multifamily LLC was a stipulation that the developers agree to on-site management of the completed residential complex.
City officials say the addition of residential housing on 100 East will contribute to Logan’s community development goals by growing the city’s property tax base, increasing population in the downtown area and encouraging additional redevelopment projects.
During Tuesday’s meeting, Kirk Jensen also suggested that the proposed $150,000 grant to 300 North Main LLC be considered an investment toward the city’s ultimate goal of seeing a residential or commercial development in the 300 block on the west side of North Main Street.
The City of Logan recently acquired 1.5 acres of property on the northwest corner of 300 North Main Street.
Properties now held by 300 North LLC at 339 North Main St. and 25/35 West, 300 North are adjacent to and surrounded by city property respectively.
Given that the city recognizes that the removal of structures at those locations would help to “fully maximize the development potential of the 300 North corner,” Kirk Jensen said that the RDA is offering the sum of up to $150,000 as a credit toward the demolition of those building.
The city development director said that credit is predicated on the demolition of those building “as soon as is reasonably allowable,” but not later than Dec. 31, 2025.
The proposed RDA agreement also includes conditions that the city be reimbursed if 300 North LLC sells the aforementioned properties to another entity and that Logan retains the right of first refusal to purchase the properties for a period of five years.