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01/10/2023 - MinutesThe Board of Directors of the Redevelopment Agency (RDA) of Salt Lake City met on Tuesday, January 10, 2023. The following Board Members were present: Ana Valdemoros, Victoria Petro, Daniel Dugan, Amy Fowler, Alejandro Puy, Darin Mano The following Board Members were absent: Chris Wharton Present Agency Leadership: Mayor Erin Mendenhall, Danny Walz – Chief Operating Officer, Cara Lindsley – Deputy Director Present City Staff: Katherine Lewis – City Attorney, Cindy Lou Trishman – City Recorder, Michelle Barney – Minutes & Records Clerk, Thais Stewart – Deputy City Recorder , Isaac Canedo – Public Engagement Communication Specialist, Taylor Hill – Constituent Liaison/Policy Analyst, Scott Corpany – Staff Assistant, Cindy Gust-Jenson – Council Executive Director, Allison Rowland – Council Staff, Ben Luedtke – Public Policy Analyst, Kate Werrett – RDA Project Manager, Tracy Tran – Project Manager, Allison Parks – Senior City Attorney, Lauren Parisi – Senior Project Manager, Makena Hawley – RDA, Project Manager Director Chair Valdemoros presided at and conducted the meeting.   The meeting was called to order at 2:05 pm MINUTES OF THE REDEVELOPMENT AGENCY OF SALT LAKE CITY Tuesday, January 10, 2023 1 Comments:A.   1.General Comments to the Board TENTATIVE 5 min The RDA Board of Directors will receive public comments regarding Redevelopment Agency business in the following formats: 1.Written comments submitted to RDA offices, 451 South State Street, Suite 118, P.O. Box 145455, Salt Lake City, UT. 84114-5455. 2.Comments to the RDA Board of Directors. (Comments are taken on any item not scheduled for a public Hearing, as well as on any other RDA Business. Comments are limited to two minutes.) Director Valdemoros welcomed everyone to the meeting and reviewed the rules of decorum. No public comments.   B.Public Hearing - individuals may speak to the Board once per public hearing topic for two minutes, however written comments are always accepted: NONE.   C.Redevelopment Agency Business - The RDA Board of Directors will receive information and/or hold discussions and/or take action on:   1.Approval of Minutes ~2:05 p.m.  5 min. The Board will approve the meeting minutes of November 10, 2022. MINUTES OF THE REDEVELOPMENT AGENCY OF SALT LAKE CITY Tuesday, January 10, 2023 2 Motion: Moved by Director Fowler, seconded by Director Dugan to approve the minutes of November 10, 2022. AYE: Ana Valdemoros, Victoria Petro, Daniel Dugan, Amy Fowler, Alejandro Puy, Darin Mano ABSENT: Chris Wharton Final Result: 6 – 0 Pass 2.Resolution: Changes in Bylaws ~ 2:10 p.m.  10 min. The Board will consider adopting a resolution changing the bylaws of the Redevelopment Agency of Salt Lake City to indicate a one-year term for the Chairperson rather than a two-year term. Additionally, the Board may also consider adopting a resolution changing the bylaws to indicate that the Vice-Chairperson cannot serve immediately successive terms. Allison Parks and Katie Lewis reviewed the conversations during the December 2022, Redevelopment Agency (RDA) meeting regarding amending the RDA Chair and Vice-Chair terms. Directors and Alison Parks discussed time limits for both Chair and Vice-Chair, if positions should/should not serve successive years, how the City Council’s bylaws addressed the Chair and Vice-Chair positions, the purpose of changing the bylaws and the benefits of changing chairs each year. Motion: Moved by Director Fowler, seconded by Director Mano to adopt Resolution 01 of 2023 amending the Bylaws to shorten the Chairperson’s Term to One Year. AYE: Ana Valdemoros, Victoria Petro, Daniel Dugan, Amy Fowler, Alejandro Puy, Darin Mano ABSENT: Chris Wharton Final Result: 6 – 0 Pass 3.Election of Chair and Vice Chair ~ 2:20 p.m.  20 min. The Board will take a straw poll to nominate the Board Chair (proposed to be a one-year term if the bylaws are amended as previously discussed) and Vice Chair (a one-year term). The process includes expressions of interest from Board Members, nominations for each position, and then voting each for the Chair and Vice Chair positions. Director Valdemoros reviewed the process to elect a new Chair and Vice Chair for the 2023 calendar year. Cindy Gust- Jenson reviewed the nomination process. Director Fowler nominated Director Puy for the position of Chair. Director Puy accepted the nomination and expressed excitement on working toward the goals of the Redevelopment Agency (RDA). MINUTES OF THE REDEVELOPMENT AGENCY OF SALT LAKE CITY Tuesday, January 10, 2023 3 A Poll was held by ballot to elect Director Puy as the Chair for the 2023 calendar year. The ballot tally was unanimous with Director Wharton absent. Director Petro nominated Director Fowler for the position of Vice-Chair. Director Fowler accepted the nomination and looked forward to serving as Vice-Chair. A Poll was held by ballot to elect Director Fowler as the Vice Chair for the 2023 calendar year. The ballot tally was unanimous with Director Wharton absent. Director Puy conducted the remaining portion of the meeting. 4.Diversion of Property Tax for a Community Reinvestment Project Area: State Street Interlocal with Salt Lake County ~ 2:40 p.m.  20 min. The Board will be briefed about, and will consider adopting a resolution, that would approve the State Street Interlocal Agreement between Salt Lake County and the RDA. The interlocal agreement would approve use of a portion of the County’s property tax increment to support implementation of the State Street Community Reinvestment Area Plan. The Board previously approved agreements between the RDA and the Salt Lake City School District and Salt Lake City for use of their property tax increment in the State Street project area. Ben Luedtke gave a brief overview of the proposal and terms of the agreement. Makena Hawley and Lauren Parisi presented the proposed Resolution including: •Location of the project area: 300 South to 2100 South along State Street •Salt Lake County Council approval of the participation terms for the State Street Community Reinvestments Area (CRA) •Terms of the CRA including the restrictions against loans, annual mitigation payment, and County administration fees •Next steps for the project (budget amendment) •Tentative schedule through March 2023 Directors and Lauren Parisi discussed the allocation of housing money, project area development funding and how each entity’s funding was allocated, ensuring the money was used in the most effective way possible, the change by the County on the funding cap, expressed excitement for the project area to be created and thanked the Staff for all their hard work on getting everyone involved. Motion: Moved by Director Fowler, seconded by Director Petro to adopt Resolution 02 of 2023 approving the Interlocal Agreement for the State Street CRA between Salt Lake County and the Salt Lake City Redevelopment Agency. AYE: Ana Valdemoros, Victoria Petro, Daniel Dugan, Amy Fowler, Alejandro Puy, Darin Mano ABSENT: Chris Wharton Final Result: 6 – 0 Pass MINUTES OF THE REDEVELOPMENT AGENCY OF SALT LAKE CITY Tuesday, January 10, 2023 4 5.Resolution: Approving Affordable Housing Funding Allocations for 2022 Notice of Funding Availability (NOFA) Process ~ 3:00 p.m.  30 min. The Board will be briefed about, and will consider adopting, a resolution that would approve Housing Development Loan Program funding allocations offered through the RDA’s 2023 Notice of Funding Availability. Between $6 million and $8.36 million will be awarded by the Board to incentivize development and preservation of affordable housing within City boundaries. Allison Rowland gave an overview of the project, reviewed the updated information in the Staff Report, provided history of the request, purpose of the loans (incentivize inclusion of affordable housing in new construction in in preservation projects), and the request for the Board to allocate up to $8.36 million in affordable housing funds through a Notice of Funding Availability (NOFA) in 2022. Tracy Tran, Austin Taylor and Kate Werrett reviewed the proposal including: •Funds available ($6 Million) •Application/evaluation process •Application summary (11 applications, one rescinded) •$16,760,000 request for projects •Three thresholds that all projects were required to meet •Project priorities •Project locations •Application considerations •Application overview •Finance Committee recommendation and funding amounts •Projects not recommended for funding •Conditions of the Finance Committee stating that if the projects did not receive the 9% tax credit in the next Utah Housing Corporation allocation cycle, these funding commitments shall be returned to the RDA •RDA Board considerations •Developers being available for questions Directors, Tracy Tran and Allison Rowland discussed: •Number of family-sized units in the developments •Difference between the scoring and the funding ranking by the Finance Committee •Reasoning the tax credits played such a big part in the decision process •If a project did not have tax credits they should not be put at the bottom of the list or required to return the funds if tax credits were not obtainable •Review of the projects should be based on the requirements set by the Board, not based on tax credits •A policy stating the funding had to be returned if the tax credits were not obtained did not exist – only a recommendation of the Finance Committee •Criteria for obtaining tax credits •How tax credits affected the timeline for development of a project •The importance of family-sized units •Board wanted more home ownership options to be a goal in the future •Encouraging developers to create family housing in downtown (District 4) MINUTES OF THE REDEVELOPMENT AGENCY OF SALT LAKE CITY Tuesday, January 10, 2023 5 •Ranking and funding of the proposed projects and how tax credits played a role in the time frame for development •Not receiving full funding did not prohibit a project from returning for additional funding in the future •Adding language to state if money was not used in the time frame or manner outlined it would be returned to the RDA Motion: Moved by Director Fowler, seconded by Director Dugan to adopt Resolution 03 of 2023 approving the Housing Development Loan Funding Allocations for Affordable Housing, with the additional $2.36 million added. AYE: Victoria Petro, Daniel Dugan, Amy Fowler, Alejandro Puy, Darin Mano NAY: Ana Valdemoros ABSENT: Chris Wharton Final Result: 5 – 1 Pass Motion: Moved by Director Mano, seconded by Director Petro to Substitute motion to use the $2.36 million in project 10, with the claw-back provision that if the credits are not received they are moved to projects 4, 5, and part of project 9. AYE: Ana Valdemoros, Victoria Petro, Darin Mano NAY: Daniel Dugan, Amy Fowler, Alejandro Puy ABSENT: Chris Wharton Final Result: 3 – 3 Fail 6.Report and Announcements from the Executive Director TENTATIVE  5 min. 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. MINUTES OF THE REDEVELOPMENT AGENCY OF SALT LAKE CITY Tuesday, January 10, 2023 6 No report. 7.Report and Announcements from RDA Staff TENTATIVE  5 min. 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; •Project Updates; and •Scheduling Items. Danny Walz thanked Director Valdemoros for working with the RDA as Chair for the past two years and everything that was accomplished. Director Valdemoros thanked the staff for all they do. Danny Walz reviewed the closing of the SPARK property disposition, 144 South Apartments, acquiring the State’s property on 300 South and 500 West by the end of December 2022, and thanked everyone involved in completing these projects.   D.Written Briefings – the following briefings are informational in nature and require no action of the Board. Additional information can be provided to the Board upon request: NONE.     E.Consent – the following items are listed for consideration by the Board and can be discussed individually upon request. A motion to approve the consent agenda is approving all of the following items: NONE.   F.Tentative Closed Session The Board will consider a motion to enter into Closed Session. A closed meeting described under Section 52-4-205 may be held for specific purposes including, but not limited to: 1.discussion of the character, professional competence, or physical or mental health of an individual; 2.strategy sessions to discuss pending or reasonably imminent litigation; 3.strategy sessions to discuss the purchase, exchange, or lease of real property: (i)disclose the appraisal or estimated value of the property under consideration; or (ii)prevent the public body from completing the transaction on the best possible terms; MINUTES OF THE REDEVELOPMENT AGENCY OF SALT LAKE CITY Tuesday, January 10, 2023 7 Adjournment 4.strategy sessions to discuss the sale of real property, including any form of a water right or water shares, if: (i)public discussion of the transaction would: (A)disclose the appraisal or estimated value of the property under consideration; or (B)prevent the public body from completing the transaction on the best possible terms; (ii)the public body previously gave public notice that the property would be offered for sale; and< (iii)the terms of the sale are publicly disclosed before the public body approves the sale 5.discussion regarding deployment of security personnel, devices, or systems; and 6.investigative proceedings regarding allegations of criminal misconduct. A closed meeting may also be held for attorney-client matters that are privileged pursuant to Utah Code § 78B-1-137, and for other lawful purposes that satisfy the pertinent requirements of the Utah Open and Public Meetings Act. Item not held. G.   MINUTES OF THE REDEVELOPMENT AGENCY OF SALT LAKE CITY Tuesday, January 10, 2023 8 Meeting adjourned at 3:17 pm Minutes Approved: February 14, 2023 _______________________________ Redevelopment Agency Chair _______________________________ City Recorder Please refer to Meeting Materials (available at www.data.slc.gov by selecting Public Body Minutes) for supportive content including electronic recordings and comments submitted prior to or during the meeting. Websites listed within the body of the Minutes may not remain active indefinitely. This document along with the digital recording constitutes the official minutes of the Salt Lake City Redevelopment Agency meeting held Tuesday, January 10, 2023 and is not intended to serve as a full transcript. Please refer to the electronic recording for entire content pursuant to Utah Code §52-4-203.   MINUTES OF THE REDEVELOPMENT AGENCY OF SALT LAKE CITY Tuesday, January 10, 2023 9 Alejandro Puy (Feb 14, 2023 15:40 MST) RDA January 10, 2023 Final Audit Report 2023-02-14 Created:2023-02-14 By:Michelle Barney (michelle.barney@slcgov.com) Status:Signed Transaction ID:CBJCHBCAABAAA2oW0COYnzXxt9o343ZOe-nUsJ8s1Xi8 "RDA January 10, 2023" History Document created by Michelle Barney (michelle.barney@slcgov.com) 2023-02-14 - 10:07:25 PM GMT Document emailed to alejandro.puy@slcgov.com for signature 2023-02-14 - 10:08:08 PM GMT Email viewed by alejandro.puy@slcgov.com 2023-02-14 - 10:39:50 PM GMT Signer alejandro.puy@slcgov.com entered name at signing as Alejandro Puy 2023-02-14 - 10:40:46 PM GMT Document e-signed by Alejandro Puy (alejandro.puy@slcgov.com) Signature Date: 2023-02-14 - 10:40:48 PM GMT - Time Source: server Document emailed to Cindy Trishman (cindy.trishman@slcgov.com) for signature 2023-02-14 - 10:40:49 PM GMT Document e-signed by Cindy Trishman (cindy.trishman@slcgov.com) Signature Date: 2023-02-14 - 11:05:24 PM GMT - Time Source: server Agreement completed. 2023-02-14 - 11:05:24 PM GMT