Estimated read time: 4-5 minutes
- The proposed Nordic Valley ski village in the Ogden Valley is prompting concerns and questions among some.
- Ogden Valley residents, speaking at a public hearing, worry about increased congestion, community disruption and increased fire risk brought on by the plans.
- Developers plan to issue $80 million in bonds to help with infrastructure costs.
ST. GEORGE — The proposed Nordic Valley ski village development in Weber County's Ogden Valley is generating a measure of concern from some.
The developers behind the proposal plan to issue up to $80 million in bonds to cover the cost of infrastructure for the project, and they held a public hearing via video on Friday to gather public comment as part of the process. Only a handful of people spoke out, all of them Ogden Valley residents who variously expressed concern with the project and put numerous questions to developers.
"It's a very aggressive plan," said one of the commenters, Marty Walker, speculating that the planned development could bring 1,000 to 1,500 new residents to the area. "It just looks to me this area is going to become extremely congested."
Cori Anderson, another Ogden Valley resident, noted what she described as the cohesiveness and sense of community in the area, expressing concern it could be hindered if the project proceeds. "We have that now. This project will disrupt that," she said.
Peggy Dooling-Baker referenced fires in the Los Angeles area in California, expressing concern the development could bolster the fire risk in the Ogden Valley. The plans, focused around the base of Nordic Valley ski resort off Nordic Valley Way, call for 438 condominiums, 159 chalets, 230 hotel rooms, 50 units for workers and 56,059 square feet of commercial space.
"That's a lot of units. That's a lot of people, and we are in a high fire zone," Dooling-Baker said.
While a rep for the developer invited those at the meeting to email questions, which he would address later, those taking part at Friday's meeting didn't immediately respond to the queries. The video meeting was based out of the St. George law offices of Snow Jensen & Reece, which is working with the developers, including Orem-based Clyde Capital Group. However, Michael Jensen, a rep from the legal firm, offered a few insights in response to a series of queries sent Friday by KSL.com.
Notably, no governmental entity, including Weber County, would be responsible for repayment of the proposed bonding in the event of a default, one of the questions put to the developers. Weber County commissioners last November approved creation of three public infrastructure districts with taxing authority, as permitted in Utah law. Those infrastructure districts, encompassing land all owned by an entity called Nordic Valley Venture, managed by Clyde Capital, have authority to levy the property taxes that would be used to finance the bonding.
"Bond investors, by purchasing the bonds, assume the risk of a (public infrastructure district) default on the bond repayment. No other government entities, including but not limited to the county, have any liability for (public infrastructure district) bond repayment obligations," Jensen said in an email. "Pursuant to applicable Utah law, (public infrastructure districts) are independent local government entities responsible for their own finances."
The ski village plans have been the focus of debate and deliberation since at least 2021 to the chagrin of some who fear they could hasten development in the Ogden Valley, home to three ski resorts and a picturesque weekend getaway area. Development pressures prompted passage last November of a ballot question calling for incorporation of a swath of the Ogden Valley, ostensibly to give locals more control over the area's future growth.
Proponents, though, have noted the concentrated zone of development around Nordic Valley, meant to leave other swaths of undeveloped land in the area untouched.
The bonding of up to $80 million would be used in part to cover the cost of public infrastructure. A county official told KSL.com last November that the bond funds would help finance road improvements, parks and water and sewer lines in the project area. Funding for other elements of the project, such as condominiums and chalets, would come "from other sources," Jensen said.
Jensen said bonds should be issued this year for the long-term project. Likewise, a Clyde Capital rep last month said infrastructure work could begin this year. The two other public infrastructure districts "may also issue bonds in the future, the timing of which will be determined by development progress and market conditions," Jensen said.
Separately, county officials, working with other taxing entities like Weber School District and the Weber Fire District, have turned the Nordic Valley development area into a community reinvestment area. That allows for use of tax-increment financing generated in the zone's boundaries for infrastructure development.
