It wants to lay out a Community Development Area (CDA) encompassing 106 acres of farmland, with particular attention to 40 acres bounded by 2200 North-2000 North and 400 East-200 East.

To help pay for it, North Logan officials have asked the Cache County School District and the Cache County Council to enter into financing agreements.

The tiny suburb is following a process Logan City used to develop its south end. There, RDA funds are being used to help build the Riverwoods hotel and conference center, now under construction on south Main Street.

If North Logan's plan is adopted, the community would get 70 percent of its CDA's property-tax dollars for the first five years, 60 percent the next five years and 50 percent for the final five.

North Logan Administrator Jeff Jorgensen said the property now yields approximately $30,000 annually in tax revenues.

"Conservative projections" estimated by consulting company Strategy 5 predict that $19 million in public investment will yield approximately $221 million in new building value within the area, translating into a return of more than $11 for every $1 invested by the public sector, he said.

Additionally, $17 million annually is expected to be generated by visitors to the what would be called the Cache Valley Conference Center.

Jorgensen said the project would give North Logan a distinct downtown area and an economic boost.

"If businesses are brought in earlier, in a way that they can be a catalyst to one another and get a synergistic effect, it'll be more tax revenue for both the county and the school board," Jorgensen said.

On Tuesday, Cache County Attorney George Daines said participation could cost the county up to $5 million and that the council's decision would set an important precedent.

"Be careful of how you're going to treat requests from other cities who want tax breaks for their projects. You may be beset by other requests," he warned.

abrunson@sltrib.com