05/19/2020 - Minutes MINUTES OF THE REDEVELOPMENT AGENCY OF SALT LAKE CITY
TUESDAY, MAY 19, 2020
The Board of Directors of the Redevelopment Agency (RDA) of Salt Lake
City, Utah, met on Tuesday, May 19, 2020 in an electronic meeting
pursuant to the Salt Lake City Emergency Proclamation.
Virtual Attendance: Directors Amy Fowler, Daniel Dugan, Chris Wharton,
Analia Valdemoros, Andrew Johnston, James Rogers, and Darin Mano.
Staff in Virtual Attendance: Cindy Gust-Jenson, Council Executive
Director; Jennifer Bruno, Council Executive Deputy Director; Mayor
Mendenhall; Rachel Otto, Mayor' s Chief of Staff, Danny Walz, RDA Chief
Operating Officer; Katherine Lewis, City Attorney; Cindy Lou Trishman,
Council Administrative Assistant; DeeDee Robinson, Deputy City Recorder;
and Scott Crandall, Deputy City Recorder.
Guests in Attendance:
Director Fowler presided at and conducted the meeting.
The meeting was called to order at 2 : 05 p.m. 2 :05:56 PM
A. GENERAL COMMENTS TO THE BOARD 2:0 8:4 8 PM
3:08:18 PM Jason Seaton inquired if there were any plans for
rehabilitation where Folsom joined the Jordan River and in the North
Temple area (including the river) . He suggested the City proactively
adjust/fix the river wherever rehabilitation was being done next to it .
Danny Walz said the City did not own the easement to make that
happen regarding the Folsom project (not connecting to the Jordan
River/west of 1000 West) and was not aware of what the status was to
secure the easement . He added that an update might be presented to the
Council (on the Folsom project) where more information would be
available .
B. PUBLIC HEARINGS
None .
C. REDEVELOPMENT AGENCY BUSINESS
#1 . 2:10:19 PM Approval of Minutes . The Board will approve the
meeting minutes of Tuesday, April 14, 2020. View Minutes
Director Johnston moved and Director Rogers seconded to approve the
minutes, which motion carried, all directors voted aye (roll call) .
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MINUTES OF THE REDEVELOPMENT AGENCY OF SALT LAKE CITY
TUESDAY, MAY 19, 2020
#2 . 2:11:00 PM Overview of the Redevelopment Agency Budget for
Fiscal Year 2020-2021 . The Board will receive a general overview of the
proposed budget for the Redevelopment Agency of Salt Lake City for Fiscal
Year 2020-21 . The Board will continue to discuss the Mayor's Recommended
Budget over the next several weeks and will have public hearings on
Tuesday May 19, 2020 and Tuesday, June 2, 2020 at 7: 00 pm. The Board
expects to adopt the budget in mid-June. View Attachments
Danny Walz and Jennifer Bruno briefed the Board with attachments .
Information was provided regarding:
• Highlights of the Budget -
o A total of 10 loans closed (just over $29 M)
o Of the 10 loans - one was primarily commercial and the other nine
were either primarily housing or mixed-use with housing as a primary
component
o Preservation of two historic buildings - Jackson Apartments and
Cramer House
o Detailed breakdown of leveraging (agency contribution vs . non-
agency contribution for each of the 10 loans)
o Loans that funded housing ($25 . 6 M in approved loans for housing
projects - 811 total units, 691 rentals, 490 affordable, and 120
for-sale condos)
o Tax increment reimbursement agreements - $15 M for Block 67 and
$28M for NWQ, LLC
o Projects completed over the past year ("Pages of Salt" unveiling,
Infinite Scale, Orchid Dynasty in Granary District, Fairpark market
study, etc. ) ,
• Budget Breakdown -
o Tax Increment Revenue Trends - (Tax year 2013-2020) including tax
increment received by RDA and projections for 2020
o Summarized breakdown of the budget (projection of $44, 347, 755 in
new revenues)
o Project allocations ($7, 759, 884 available for existing or new
projects)
• Key Changes -
o Overall tax increment projection was 20 over FY20
o $250, 000 for Commercial Development Loan Program
o $1 . 5 M for Eccles Debt Services Reserve Payment
o $250, 000 for Capital Expenditure - Japantown (visioning strategy
underway)
o West Capitol Hill & West Temple Gateway (these project areas had
expired, still have balance of funds/interest earnings to fund
administrative fees)
o $389, 000 for 100 South Utilities (Depot District)
o $400, 000 for Adaptive Reuse Program (Granary District)
o $270, 000 for Catalytic Project (North Temple; Folsom
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MINUTES OF THE REDEVELOPMENT AGENCY OF SALT LAKE CITY
TUESDAY, MAY 19, 2020
Trail/Corridor, loans within the project area, and potential
property acquisitions)
o Block 70 being subsidized by Community Block Development (CBD)
contributions
o $500, 000 (Project Program Income Fund - PIF) for Project Area seed
funds (split between the 9 Line & State Street project areas)
o Transferring of Gallivan Staff to RDA (removing Public Services
from maintenance/programming) .
Further discussion was held regarding details on the transfer of
staff from Public Services to RDA for Gallivan Plaza, coordination with
Rocky Mountain Power for underground utility lines in the City (including
impacts to RDA owned property) , the deferment of loan payments (and
possible effects on incoming revenue for future fiscal years) ,
history/intents regarding North Temple Viaduct Bond Payments, whether
the Council wanted to keep the Housing Trust Fund (HTF) intact (placing
it into RDA) or have the funds stay in Housing & Neighborhoods
Department,
Director Rogers inquired if a budget amendment would be needed for
the Eccles Theater/Salt Lake County due to the loss of revenue from
venues . Mr. Walz said he believed it would be necessary between losses
from the Eccles Theater and Gallivan Plaza and were waiting to see how
the County proposed to bring their facilities back online . Ms . Bruno
said from the Eccles Theater perspective, the operating agreement the
City made with the County required from the outset that there be an on-
going, one-year operating reserve in addition to the capital reserve .
Director Fowler requested an update on status of funds transferred
to RDA for the HTF (where it went, how the program was set up, etc . ) .
Mr. Walz said $1 M was allocated and the rest was still being offered on
a first come, first served basis and conversations were ongoing with
developers who gauged interest, but as of now the only loan approved was
the Diamond Rail loan ($1 M) . Councilmember Fowler said she would be
supportive of transferring the funds into the HTF.
Director Valdemoros requested more information regarding CARES Act
funding the City might get for housing and if the City needed a portion
of the HTF funds in order to receive CARES Act funds . (How much would be
received from the Federal government and how much of the City' s money
would be needed) .
Director Fowler thanked the RDA and said she was impressed with the
amount of work Mr. Walz and his Staff completed (over 400 affordable
housing units over the last one-two years totaling $23 M) .
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MINUTES OF THE REDEVELOPMENT AGENCY OF SALT LAKE CITY
TUESDAY, MAY 19, 2020
#3. 3:10:2 9 PM Report and Announcements from the Executive Director.
Report of the Executive Director, including a review of information
items, announcements, and scheduling items. The Board of Directors may
give feedback or policy input .
Mayor Mendenhall praised Danny Walz and RDA Staff on their
work and echoed the kudos from Director Fowler regarding the gravity of
work the team was able to accomplish each year and offered kudos to the
Board for making it possible .
#4 . 3:11 :03 PM Report and Announcements from RDA Staff. The Board
may review Board information and announcements. The Board may give
feedback on any item related to City business, including but not limited
to scheduling items.
Danny Walz said he would pass on the praise given by the Board
and Mayor to his Staff as they also deserved credit .
#5. 3:11:23 PM Report of the Chair and Vice Chair.
Councilmember Valdemoros thanked/praised RDA Staff for their
clear, concise work.
D. WRITTEN BRIEFINGS
None .
E. CONSENT
None .
F. CLOSED SESSION. The Board will consider a motion to enter into
Closed Session, in keeping with Utah Code ,§52-4-205 for any allowed
purpose.
Item not held.
The RDA meeting adjourned at 3 : 12 p.m.
The meeting reconvened at 7 : 20 p.m. 7 :20:27 PM to conduct additional
business .
Director Fowler moved and Director Dugan seconded to adjourn as the
Local Building Authority and reconvene as the Redevelopment Agency, all
members voted aye (roll call) .
Director Fowler presided at and conducted the meeting.
20 - 4
MINUTES OF THE REDEVELOPMENT AGENCY OF SALT LAKE CITY
TUESDAY, MAY 19, 2020
OPENING CEREMONY
#1 . 7:16:31 PM Pledge of Allegiance (A moment of silence was held
while the American Flag/Anthem was displayed on the video
screen)
#2 . 7:17:20 PM Welcome and Review of Standards of Conduct.
Note : Opening Ceremonies were held as part of the May 19, 2020
combined Local Building Authority, Redevelopment Agency, and City
Council Formal agenda.
PUBLIC HEARINGS
#1 . 7:21:37 PM Accept public comment and consider approving a
resolution adopting the final budget for the Redevelopment Agency of
Salt Lake City, Utah (RDA) for Fiscal Year 2019-2020 . View Attachments
7:22:03 PM George Chapman urged the board to adopt a policy of not
allowing additional loans to projects like Richmond Flats because it
negatively impacted a potential major north/south bicycle route in the
works for over 10 years on 1300 East and suggested any further decisions
should allow for appropriate public engagement .
Director Wharton moved and Director Valdemoros seconded to continue
the public hearing to June 2, 2020 , which motion carried, all directors
voted aye (roll call) .
Director Wharton moved and Director Valdemoros to adjourn as the
RDA Board and reconvene as the City Council, which motion carried, all
directors voted aye (roll call) .
The meeting adjourned at 7 : 25 p.m.
Minutes Approved: July 20, 2021 .
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This document is not intended to serve as a full transcript as
additional discussion may have been held; please refer to the audio or
video for entire content pursuant to Utah Code §52-4-203 (2) (b) .
20 - 5
MINUTES OF THE REDEVELOPMENT AGENCY OF SALT LAKE CITY
TUESDAY, MAY 19, 2020
This document along with the digital recording constitute the
official minutes of the Salt Lake City Redevelopment Agency meetings
(afternoon and evening) held May 19, 2020 .
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20 - 6
May 19, 2020 RDA Minutes - Approved on July
20, 2021
Final Audit Report 2021-08-23
Created: 2021-08-20
By: DeeDee Robinson(deedee.robinson@slcgov.com)
Status: Signed
Transaction ID: CBJCHBCAABAA1og11TDlfdvnFfXZG36Eyv-YTUjucd-_
"May 19, 2020 RDA Minutes - Approved on July 20, 2021 " Histor
y
Document created by DeeDee Robinson (deedee.robinson@slcgov.com)
2021-08-20-9:19:25 PM GMT-IP address:204.124.13.222
Document emailed to Amy Fowler(amy.fowler@slcgov.com) for signature
2021-08-20-9:21:00 PM GMT
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2021-08-21 -0:57:57 AM GMT-IP address: 107.127.14.111
Document e-signed by Amy Fowler(amy.fowler@slcgov.com)
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Agreement completed.
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