027 of 2019 - Interlocal Cooperation with the RDA for Block 67 Community Reinvestment Project Area R 19-1
T 19-2
RESOLUTION 27 OF 2019
Authorizing approval of an Interlocal Cooperation Agreement between Salt Lake City
Corporation and the Redevelopment Agency of Salt Lake City Authorizing Use of a Portion
of Tax Increment for the Block 67 North Community Reinvestment Project Area
WHEREAS, the Board of Directors of the Redevelopment Agency of Salt Lake City (the
"Agency") has approved the Block 67 North Community Reinvestment Project Area ("Project
Area").
WHEREAS, tax increment will be utilized to carry out community reinvestment activity
that will catalyze private development within the Project Area.
WHEREAS, Salt Lake City Corporation (the "City") desires to approve the use of its tax
increment from the Project Area to support the community revitalization activities in accordance
with the Act.
WHEREAS,the City desires to execute an interlocal agreement with the Agency in which
the City will consent to the Agency being paid a portion of its share of the tax increment from the
Project Area.
THEREFORE,BE IT RESOLVED,by the City Council of Salt Lake City,Utah as follows:
(a) It does hereby approve the execution and delivery of the following:
AN INTERLOCAL COOPERATION AGREEMENT BETWEEN SALT LAKE CITY
CORPORATION AND THE REDEVELOPMENT AGENCY OF SALT LAKE CITY [BLOCK
67 NORTH TAX INCREMENT], EFFECTIVE ON THE DATE IT IS SIGNED BY ALL
PARTIES.
(b) Jacqueline M. Biskupski, Mayor of Salt Lake City, or her designee is hereby authorized to
approve, execute, and deliver said agreement on behalf of Salt Lake City Corporation, in
substantially the same form as now before the City Council and attached hereto as Exhibit
A, subject to such minor changes that do not materially affect the rights and obligations of
the City thereunder and as shall be approved by the Mayor, her execution thereof to
constitute conclusive evidence of such approval.
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PASSED by the City Council of Salt L. , I "�, ,his 24th day of September , 2019.
• Ii CITY COUNCIL
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APPROVED AS TO FORM: ` 4(` rrJJ y�'
Salt Lake City Attorney's Office + np` * ,
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Katheri_n,e N. Lewis
Date:1 `7lS1( (61
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EXHIBIT A
[Attach Form Interlocal Agreement]
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