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10/10/2023 - Meeting Materials
Board of Directors of the
REDEVELOPMENT AGENCY OF
SALT LAKE CITY
AGENDA
October 10, 2023 Tuesday 2:00 PM
Council Work Room
451 South State Street Room 326
Salt Lake City, UT 84111
SLCRDA.com
In accordance with State Statute and City Ordinance, the meeting may be held electronically. After 5:00
p.m., please enter the City & County Building through the main east entrance.
This is a discussion among RDA Board Directors and select presenters. The public is welcome to listen,
unless otherwise specified as a public comment period. Items scheduled may be moved and / or discussed
during a different portion of the Meeting based on circumstance or availability of speakers. Item start
times and durations are approximate and are subject to change at the Chair’s discretion.
Generated: 10:44:23
Comments:A.
1.General Comments to the Board ~2:00 p.m.
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.)
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 July 11, 2023 and August 8, 2023.
2.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.
3.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;
•Community Engagement Updates; and
•Scheduling Items.
4.Report of the Chair and Vice Chair TENTATIVE
5 min.
Report of the Chair and Vice Chair.
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:
1.Informational: Semiannual Status Report on RDA
Commercial Loan Portfolio Written Briefing
-
The Board will receive a written briefing about the status of the RDA’s commercial loan
portfolio. This report identifies the following:
•New loans approved between July 1, 2022 and June 30, 2023
•Remaining amount available in the existing portfolio
•Outstanding principal for the Revolving Loan Fund
•Any delinquencies
2.Resolution: RDA Budget Amendment No.1 for Fiscal
Year 2023-24 Written Briefing
-
The Board will receive a written briefing about a resolution that would amend the final
budget of the Redevelopment Agency of Salt Lake City for Fiscal Year 2023-24. Budget
amendments happen several times each year to reflect adjustments in the
Redevelopment Agency’s budget, including proposed project additions and
modifications, and staffing changes. The amendment includes a single housekeeping
item to transfer funds to a City grant account for improved tracking and compliance
reporting. The use of the funds for affordable housing remains the same. There is a
corresponding item in the City’s General Fund Budget Amendment No 2.
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:
Adjournment
1.Set Date – Resolution: RDA Budget Amendment No.1 for Fiscal Year 2023-
24 -
-
The Board will set the date of Tuesday, November 14, 2023 at 2 p.m. to accept public
comment and consider adopting a resolution that would amend the final budget of the
Redevelopment Agency of Salt Lake City for Fiscal Year 2023-24. Budget amendments
happen several times each year to reflect adjustments in the Redevelopment Agency’s
budget, including proposed project additions and modifications, and staffing changes.
The amendment includes a single housekeeping item to transfer funds to a City grant
account for improved tracking and compliance reporting. The use of the funds for
affordable housing remains the same. There is a corresponding item in the City’s General
Fund Budget Amendment No 2.
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;
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.
G.
CERTIFICATE OF POSTING
On or before 5:00 p.m. on Friday October 6, 2023, the undersigned, duly appointed City Recorder,
does hereby certify that the above notice and agenda was (1) posted on the Utah Public Notice
Website created under Utah Code Section 63F-1-701, and (2) a copy of the foregoing provided to The
Salt Lake Tribune and/or the Deseret News and to a local media correspondent and any others who
have indicated interest.
CINDY LOU TRISHMAN
SALT LAKE CITY RECORDER
Final action may be taken in relation to any topic listed on the agenda, including but
not limited to adoption, rejection, amendment, addition of conditions and variations
of options discussed.
The City & County Building is an accessible facility. People with disabilities may make requests for
reasonable accommodation, which may include alternate formats, interpreters, and other auxiliary
aids and services. Please make requests at least two business days in advance. To make a request,
please contact the City Council Office at council.comments@slcgov.com, 801-535-7600, or relay
service 711.
PENDING MINUTES – NOT APPROVED
The Board of Directors of the Redevelopment Agency (RDA) of Salt Lake City met on Tuesday,
July 11, 2023.
The following Board Members were present:
Ana Valdemoros, Victoria Petro, Daniel Dugan, Chris Wharton, Alejandro Puy, Darin Mano
Present Agency Leadership:
Danny Walz – Director, Cara Lindsley – Deputy Director
Present City Staff:
Katherine Lewis – City Attorney, Cindy Lou Trishman – City Recorder, DeeDee Robinson –
Minutes & Records Clerk, Thais Stewart – Deputy City Recorder , Taylor Hill – Constituent
Liaison/Policy Analyst, Scott Corpany – Staff Assistant, Rachel Otto – Chief of Staff, Allison
Rowland – Council Staff, Tracy Tran – Project Manager, Lindsey Nikola – Deputy Chief of Staff,
Austin Taylor – RDA Project Manager
Director Chair Puy presided at and conducted the meeting.
The meeting was called to order at: 2:07 pm.
MINUTES OF THE REDEVELOPMENT AGENCY OF SALT LAKE CITY
Tuesday, July 11, 2023
0
Comments:A.
1.General Comments to the Board ~2:00 p.m.
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.)
There were 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.Informational: Tax Increment Reimbursement Program Policy and
Housing and Transit Reinvestment Zone Tax Increment
Reimbursement Policy
~ 2:05
p.m.
30 min.
The Board will receive a briefing about two policy updates. The first is a proposed
amendment to the existing tax increment policy, which is designed to support
development projects with wide-reaching, regional impact. The second would establish a
new Housing and Transit Reinvestment Zone (HTRZ) Tax Increment Reimbursement
Program Policy to account for the different requirements in a separate section of the Utah
Code governing HTRZs, which differ from traditional project areas.
Allison Rowland provided a brief introduction.
Danny Walz and Cara Lindsley provided information regarding:
Tax Increment Reimbursement – Policy Updates
•What a tax increment reimbursement was
•HTRZ tax increment policy proposal – including thresholds, use, term, and
participation rate
•Updated policy for tax increment reimbursements outside of HTRZs (Community
Reinvestment Areas) – including thresholds, use requirements, term and
participation rate (to be negotiated)
MINUTES OF THE REDEVELOPMENT AGENCY OF SALT LAKE CITY
Tuesday, July 11, 2023
1
•Overview of values and livability benchmarks
•Details of displacement mitigation
2.Motion: Releasing Funding for the Affordable Housing Initiative -
Perpetual Housing Fund
~ 2:35
p.m.
25 min.
The Board will receive a briefing from RDA staff regarding a draft term sheet creating a
partnership with the Perpetual Housing Fund of Utah (PHF) for a tenant wealth building
program. The Administration is requesting the Board review the draft term sheet, and if
acceptable, release the $10 million from American Rescue Plan Act (ARPA) dollars
approved in Budget Amendment No. 6 of Fiscal Year 2022-23 for this purpose.
For more information on this item visit https://tinyurl.com/SLCHousingProposals.
Jennifer Bruno provided a brief introduction.
Tracy Tran, Danny Walz, Chris Parker (Perpetual Housing Fund of Utah)
and Ashley Atkinson (Perpetual Housing Fund of Utah) provided information
regarding:
Perpetual Housing Fund (PHF)
•Overview of the PHF of Utah
•Goals and objectives – 515 East 100 South (including benchmarks that would be
met)
•Redevelopment Agency (RDA) guiding framework (values and livability
benchmarks)
•Fiscal Year (FY) 2024 Annual housing priorities and how the project fit into them
•Proposed draft terms
•Next steps
Director Petro raised concerns about releasing the requested money without a finalized
term sheet and uncertainties on who would be partnering with the City on the proposed
project. Chris Parker explained that the Perpetual Housing Fund of Utah would be the
real estate holding entity and was controlled by the Perpetual Housing Fund
(501c3). Jennifer Bruno clarified that the Administration wanted to ensure the Board was
still interested in releasing the funds and a finalized term sheet would be provided in an
August 2023 meeting for approval.
3.Resolution: Amendment to Terms for Loan to Ville 1659, LLC, and
Clarification of Housing Development Loan Program
~ 3:00
p.m.
30 min.
The Board will be briefed about and will consider approving, a resolution that would
modify the terms of Ville 1659 project’s Housing Development Loan Program (HDLP)
loan located at 1659 West North Temple. Changing the type of loan from a construction
gap loan with cash-flow payments to a bridge loan with a balloon payment at the end of
the term. The term of the loan would be reduced from 40 years to three, at a one percent
interest rate rather than two percent.
Allison Rowland provided a brief introduction.
Danny Walz, Tracy Tran, and Austin Taylor provided information regarding:
MINUTES OF THE REDEVELOPMENT AGENCY OF SALT LAKE CITY
Tuesday, July 11, 2023
2
Ville 1659 Loan Term Changes & HDLP Financing Condition Update
•Overview of the project (conversion of the mid-century motel Ramada Inn)
•Updated sources and uses
•Proposed loan term changes
•Condition to clarification for last round of HDLP
Motion:
Moved by Director Dugan, seconded by Director Petro to adopt Resolution
13 of 2023 Amendment to Terms for Loan to Ville 1659, and Clarification of
Housing Development Loan Program.
AYE: Ana Valdemoros, Victoria Petro, Daniel Dugan, Chris Wharton, Alejandro Puy
ABSENT: Darin Mano
Final Result: 5 – 0 Pass
4.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.
Item not held.
5.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;
•Property Update;
•Project Milestone Update; and
•Scheduling Items.
Danny Walz provided information regarding:
•Successful in receiving $495,000 grant for environmental clean-up at 22 South
Jeremy Street
•Update on the Paper Box Lofts project at 160 South 300 West
•Atkinson Stacks project funding update
•Annual Report on the Bicycle Collective Project provided to Directors
6.Report of the Chair and Vice Chair TENTATIVE
5 min.
Report of the Chair and Vice Chair.
Item not held.
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:
MINUTES OF THE REDEVELOPMENT AGENCY OF SALT LAKE CITY
Tuesday, July 11, 2023
3
Adjournment
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;
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, July 11, 2023
4
Meeting adjourned at: 3:20 pm.
Minutes Approved:
_______________________________
Redevelopment Agency Chair – Alejandro Puy
_______________________________
City Recorder – Cindy Trishman
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, July 11, 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, July 11, 2023
5
PENDING MINUTES – NOT APPROVED
The Board of Directors of the Redevelopment Agency (RDA) of Salt Lake City met on Tuesday,
August 8, 2023.
The following Board Members were present:
Victoria Petro, Daniel Dugan, Chris Wharton, Alejandro Puy, Darin Mano, Sarah Young
The following Board Members were absent:
Ana Valdemoros
Present Agency Leadership:
Mayor Erin Mendenhall, Danny Walz – Director, Cara Lindsley – Deputy Director
Present City Staff:
Katherine Lewis – City Attorney, Cindy Lou Trishman – City Recorder, Stephanie Elliott –
Minutes & Records Clerk, Thais Stewart – Deputy City Recorder , Matthew Brown – Minutes &
Records Clerk, Isaac Canedo – Public Engagement Communication Specialist, Taylor Hill –
Constituent Liaison/Policy Analyst, Scott Corpany – Staff Assistant, Ashley Ogden – Project
Manager, Tracy Tran – Project Manager
Director Chair Alejandro Puy presided at and conducted the meeting.
The meeting was called to order at 2:03 pm
MINUTES OF THE REDEVELOPMENT AGENCY OF SALT LAKE CITY
Tuesday, August 8, 2023
0
Comments:A.
1.General Comments to the Board ~2:00 p.m.
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.)
Kristina Robb thanked the City and Council for the work to maintain affordable
housing in the Liberty Wells neighborhood and requested efforts be continued.
B.Public Hearing - individuals may speak to the Board once per public hearing
topic for two minutes, however written comments are always accepted:
NONE.
Item not held
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 May 2, 2023 and May 16, 2023.
Motion:
Moved by Director Petro, seconded by Director Dugan to approve the
meeting minutes of May 2, 2023 and May 16, 2023.
AYE: Victoria Petro, Daniel Dugan, Chris Wharton, Alejandro Puy, Darin Mano, Sarah
Young
ABSENT: Ana Valdemoros
Final Result: 6 – 0 Pass
2.Depot District Stormwater Detention Relocation Project ~ 2:10 p.m.
10 min.
The Board will be briefed about, and will consider approving an allocation of $200,000
to support the stormwater detention relocation project at 233 South 600 West. This
request is for an additional $200,000 from the Depot District Project Area Infrastructure
Improvements Program to fill the construction funding gap and allow the RDA to fulfill
MINUTES OF THE REDEVELOPMENT AGENCY OF SALT LAKE CITY
Tuesday, August 8, 2023
1
its obligations per the development agreement. If the additional funding is approved, the
total relocation project budget is estimated at $504,404. The rest of the budget would
include remaining funds from the original $1.2 million allocation used to acquire the
property.
Ashley Ogden discussed the requested funding for the construction of the Stormwater
Detention Relocation Project.
Straw Poll: Support to fund the Relocation Project. All Directors present were in favor.
Director Valdemoros was absent.
3.Resolution: Releasing Funding for the Affordable Housing
Initiative - Perpetual Housing Fund Follow-up
~ 2:20
p.m.
30 min.
The Board will receive a follow-up briefing and will consider approving a resolution that
would adopt the Term Sheet and Waiver of the Sustainable Development Policy for The
Perpetual Housing Fund of Utah, LLC (PHF) at the 515 Project. The Administration is
requesting the Board review the term sheet, and if acceptable, release the $10 million
from American Rescue Plan Act (ARPA) dollars approved in Budget Amendment No. 6 of
Fiscal Year 2022-23 for this purpose.
For more information on this item visit https://tinyurl.com/SLCHousingProposals.
Danny Walz and Tracy Tran presented the Resolution Releasing Funds for the
Affordable Housing Initiative – Perpetual Fund.
Directors stated their excitement for this project and thanked the City Employees for all
of the hard work on this project and the attention to the needs of the community.
Director Dugan clarified the previous motion made to approve the release of funds for the
Housing Development Loan Program.
Motion:
Moved by Director Dugan, seconded by Director Mano to adopt Resolution
14 of 2023 Releasing Funding for the Affordable Housing Initiative –
Perpetual Housing Fun Follow-up. (motion clarification added by Dugan)
AYE: Victoria Petro, Daniel Dugan, Chris Wharton, Alejandro Puy, Darin Mano, Sarah
Young
ABSENT: Ana Valdemoros
Final Result: 6 – 0 Pass
4.Tentative Reconsideration of Resolution: Amendment to
Terms for Loan to Ville 1659, LLC, and Clarification of
Housing Development Loan Program
TENTATIVE
10 min
The Board may be briefed about and may reconsider the vote on July 11, 2023 that
approved a resolution modifying the terms of Ville 1659 project’s Housing Development
Loan Program (HDLP) loan located at 1659 West North Temple. The modifications
included changing the type of loan from a construction gap loan with cash-flow
payments to a bridge loan with a balloon payment at the end of the term. Reducing the
MINUTES OF THE REDEVELOPMENT AGENCY OF SALT LAKE CITY
Tuesday, August 8, 2023
2
term from 40 years to three years and increasing from a one percent interest rate to a
two percent interest rate.
Motion:
Moved by Director Petro, seconded by Director Wharton to reconsider the
motion from July 11, 2023, adopting the resolution amending the terms for
the loan to Ville 1659 and clarifying the Housing Development Loan
Program, 2023.
AYE: Victoria Petro, Daniel Dugan, Chris Wharton, Alejandro Puy, Darin Mano, Sarah
Young
ABSENT: Ana Valdemoros
Final Result: 6 – 0 Pass
5.Resolution: Separate Motions on Amendment to Terms for Loan
to Ville 1659, LLC and Clarification of Housing Development
Loan Program
TENTATIVE
5 min
The Board may choose to separate the items amending terms for a loan to Ville 1659, and
clarifying the Housing Development Loan Program, and consider voting on them
separately.
Item not held
6.Straw Poll – Property Acquisition in State Street Project Area TENTATIVE
10 min.
The Board will consider a straw poll to release funds from a strategic intervention fund
holding account to facilitate property acquisition.
Straw Poll: Support to approve property acquisition in State Street Project, not to
exceed 2.5 million dollars. All Directors present were in favor. Director Valdemoros was
absent.
7.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.
Item not held
8.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;
•Property Updates; and
•Scheduling Items.
Item not held
9.Report of the Chair and Vice Chair TENTATIVE
MINUTES OF THE REDEVELOPMENT AGENCY OF SALT LAKE CITY
Tuesday, August 8, 2023
3
5 min.
Report of the Chair and Vice Chair.
Item not held
Item not held
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.
Item not held
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.
Item not held
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;
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
MINUTES OF THE REDEVELOPMENT AGENCY OF SALT LAKE CITY
Tuesday, August 8, 2023
4
Adjournment
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.
Motion:
Moved by Director Petro, seconded by Director Dugan to enter into Closed Session
for the purposes of: d. strategy sessions to discuss the purchase, exchange, or
lease of real property, including any form of a water right or water shares, if
public discussion of the transaction would: (i) disclose the appraisal or prevent
the public body from completing the transaction on the best possible terms; and
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.
AYE: Victoria Petro, Daniel Dugan, Chris Wharton, Alejandro Puy, Darin Mano, Sarah Young
ABSENT: Ana Valdemoros
Final Result: 6 – 0 Pass
Motion:
Moved by Director Dugan, seconded by Director Young to adjourn closed session.
AYE: Victoria Petro, Daniel Dugan, Chris Wharton, Alejandro Puy, Darin Mano, Sarah Young
ABSENT: Ana Valdemoros
Final Result: 6 – 0 Pass
Closed Session Started at 2:40 PM
Held via Zoom and in the Work Session Room (location)
Council Members in Attendance: Council Members Dugan, Puy, Petro, Wharton, Young, and
Mano (online).
City Staff in Attendance: Mayor Mendenhall, Katherine Lewis, Rachel Otto, Lindsey Nikola,
Andrew Johnston, Cindy Gust-Jenson, Jennifer Bruno, Lehua Weaver, Allison Rowland, Ben
Luedtke, Nick Tarbet, Tammy Huntsaker, Sara Montoya, Danny Walz, Robyn Stine, Allison
Parks, Kimberly Chytraus, Blake Thomas, Megan Yuill, Austin Taylor, Marcus Lee, Kate
Werrett, Makena Hawley, Kathryn Hackman, Lucas Goodrich, Corinne Piazza, Whitney
Gonsalez Fernandez, Matthew Brown, and Thais Stewart.
Closed Session ended at 3:24 PM
G.
MINUTES OF THE REDEVELOPMENT AGENCY OF SALT LAKE CITY
Tuesday, August 8, 2023
5
Meeting adjourned at 3:36 pm
Minutes Approved:
_______________________________
Redevelopment Agency Chair Alejandro Puy
_______________________________
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, August 8, 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, August 8, 2023
6
REDEVELOPMENT AGENCY of SALT LAKE CITY
SALT LAKE CITY CORPORATION
451 SOUTH STATE STREET, ROOM 118 WWW.SLC.GOV · WWW.SLCRDA.COM
P.O. BOX 145518, SALT LAKE CITY, UTAH 84114-5518 TEL 801-535-7240 · FAX 801-535-7245
MAYOR ERIN MENDENHALL
Executive Director
DANNY WALZ
Director
REDEVELOPMENT AGENCY STAFF MEMO
DATE: September 22, 2023
PREPARED BY: Erin Cunningham
RE: Status Report on RDA Commercial Loan Portfolio
REQUESTED ACTION: Written Briefing
RECOMMENDATION: N/A
BUDGET IMPACTS: None
EXECUTIVE SUMMARY: Semiannually, the RDA provides an update to the Board on the status of
the RDA’s commercial loan portfolio. This report identifies the following:
• New loans approved between July 1, 2022 and June 30, 2023
• Remaining amount in the existing portfolio
• Outstanding principal for the Revolving Loan Fund
• Any delinquencies
ANALYSIS & ISSUES:
No new loans have been approved during the current fiscal year.
New Loans Approved
July 1, 2022 – June 30, 2023
Fund Borrower Resolution Date Approved Amount
Revolving Loan Fund None
Total New Loans
Funds Available to Lend
Funds Available to Lend June 30, 2023 August 31, 2023
Revolving Loan Fund 4,835,008.61 5,061,758.61
Outstanding Loan Principal Balances
Fund Type Number of Loans June 30, 2023 August 31, 2023
Revolving Loan Fund – Outstanding Balance 13 15,952,391.83 16,286,087.64
Loan Closed – Disbursements Not Started 1 7,000,000.00 7,000,000.00
Seller Financed Loans 2 5,000,000.00 5,000,000.00
Total 16 27,952,391.83 28,286,087.64
PREVIOUS BOARD ACTION: N/A
ATTACHMENTS: None
DEPARTMENT OF FINANCE
POLICY AND BUDGET DIVISION
451 SOUTH STATE STREET, ROOM 238
PO BOX 145467, SALT LAKE CITY, UTAH 84114-5455 TEL 801-535-6394
ERIN MENDENHALL
Mayor
MARY BETH THOMPSON
Chief Financial Officer
RDA BOARD TRANSMITTAL
___________________________________ Date Received: ________________
Mayor Erin Mendenhall, Executive Director Date sent to Council: ___________
______________________________________________________________________________
TO: Salt Lake City RDA Board DATE: September 25, 2023
Alejandro Puy, RDA Chair
FROM: Mary Beth Thompson, Chief Financial Officer
Danny Walz, RDA Director
SUBJECT: RDA Budget Amendment #1, FY 2023-24
SPONSOR: NA
STAFF CONTACT: Greg Cleary, Budget Director (801) 535-6394 or
Mary Beth Thompson (801) 535-6403 or
Mike Burns (801) 565-6461 or
Danny Walz (801) 535-7209
DOCUMENT TYPE: Budget Amendment Resolution
RECOMMENDATION: The Administration recommends that subsequent to a public hearing,
the RDA Board adopt the following amendment to the FY 2023-24 adopted budget.
BUDGET IMPACT:
REVENUE EXPENSE
RDA FUND $ .00 $ 6,476,014.00
TOTAL $ .00 $ 6,476,014.00
Erin Mendenhall (Sep 25, 2023 13:20 MDT)09/25/2023
09/25/2023
EXECUTIVE SUMMARY:
The purpose of the first amendment (“amendment”) is to align the RDA budget with the City’s
second Budget Amendment, which reallocates $6,476,014 from the Agency’s Housing
Development Fund to the City’s Miscellaneous Grants Fund. This amendment is administrative
in nature and is being proposed for accounting and financial tracking purposes.
In the Fiscal Year 2024 budget, the Board transferred $6,476,014 in Dormant HOME Program
Income Funds initially allocated to the Community and Neighborhoods Department to
the Agency's Housing Development Fund. This allocation is intended to be incorporated into the
annual housing Notice of Funding Availability (NOFA) by the Agency. However, due to the
specific reporting obligations associated with these Funds, the City's Finance Department is
suggesting a transfer of these funds to the Miscellaneous Grants Fund.
A summary spreadsheet document, outlining the proposed budget change is attached
(Attachment B). The Administration requests this document be modified based on the decisions
of the Board. The budget amendment contains one item in section D – Housekeeping Items:
A. New Budget Items
B. Grants for Existing Staff Resources
C. Grants for New Staff Resources
D. Housekeeping Items
E. Grants Requiring No New Staff Resources
F. Donations
G. Council Consent Agenda Grant Awards
I. Council Added Items
ATTACHMENTS:
A. Resolution
B. Budget Amendment #1 Summary Spreadsheet
C. RDA Staff Memo
PUBLIC PROCESS: Public Hearing
1
REDEVELOPMENT AGENCY OF SALT LAKE CITY
RESOLUTION NO__________
First Budget Amendment for Fiscal Year 2023-2024
RESOLUTION OF THE BOARD OF DIRECTORS OF THE REDEVELOPMENT AGENCY
OF SALT LAKE CITY AMENDING THE FINAL BUDGET OF THE RDA FOR FISCAL
YEAR 2023-2024.
WHEREAS, on June 13, 2023, the Redevelopment Agency (RDA) Board of Directors
(Board) adopted the final budget of the RDA, effective for the fiscal year beginning July 1, 2023,
and ending June 30, 2024, in accordance with the requirements of Section 17C-1-601.5 of the Utah
Code.
WHEREAS, on May 2, 2023, the Board approved a resolution adopting the tentative final
budget, while reserving consideration of other proposed amendments until a later date.
WHEREAS, all conditions precedent to amend the RDA's final annual budget have been
accomplished.
NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of the
Redevelopment Agency of Salt Lake City:
1. Purpose. The purpose of this resolution is to amend the final annual budget of the
RDA, as approved, ratified and finalized by the Board on June 13, 2023.
2. Adoption of Amendments. The budget amendments shown on Exhibit A as “Board
Approved” are hereby adopted and incorporated into the annual budget of the RDA.
3. Filing of copies of the Budget Amendments. The Salt Lake City Finance
Department, on behalf of the RDA, is authorized and directed to certify and file a copy of said
budget amendments in the office of the Finance Department, the RDA, and the office of the City
Recorder, which amendments shall be available for public inspection.
Passed by the Board of Directors of the Redevelopment Agency of Salt Lake City, Utah,
this day of , 2023, to be effective upon adoption.
________________________________
Alejandro Puy, Chair
Approved as to form: __________________________________
Salt Lake City Attorney’s Office
Allison Parks
2
The Executive Director:
____ does not request reconsideration
____ requests reconsideration at the next regular Agency meeting.
_________________________________
Erin Mendenhall, Executive Director
Attest:
_________________________
City Recorder
3
EXHIBIT A TO RESOLUTION
[Attach Board’s Final Approved Budget Amendment]
Initiative Number/Name Project Area Revenue Amount
Expenditure
Amount
Revenue
Amount
Expenditure
Amount
Ongoing or One-
time FTEs
1 RDA Housing Funds Transfer to Misc Grants Housing Dev Fund - 6,476,014.00 One-time -
-
Total of Budget Amendment Items - 6,476,014.00 - -
Total by Fund, Budget Amendment #1:
Redevelopment Agency RDA - 6,476,014.00 - - -
Total of Budget Amendment Items - 6,476,014.00 - - -
Fiscal Year 2023-24 RDA Budget Amendment #1
Section G: Board Consent Agenda -- Grant Awards
Section I: Board Added Items
Section A: New Items
Section B: Grants for Existing Staff Resources
Section C: Grants for New Staff Resources
Section D: Housekeeping
Section E: Grants Requiring No New Staff Resources
Section F: Donations
Board ApprovedAdministration Proposed
1
Initiative Number/Name Project Area Revenue Amount
Expenditure
Amount
Revenue
Amount
Expenditure
Amount
Ongoing or One-
time FTEs
Fiscal Year 2023-24 RDA Budget Amendment #1
Board ApprovedAdministration Proposed
Current Year Budget Summary, provided for information only
FY 2023-24 Budget, Including Budget Amendments
FY 2023-24
Adopted Budget RDA BA #1 Total Total To-Date
Redevelopment Agency 80,803,841 6,476,014 - 87,279,855
Total of Budget Amendment Items 80,803,841 6,476,014 87,279,855
Certification
Budget Manager
Deputy Director, City Council/RDA Board
Contingent Appropriation and Notes
2
REDEVELOPMENT AGENCY of SALT LAKE CITY
SALT LAKE CITY CORPORATION
451 SOUTH STATE STREET, ROOM 118 WWW.SLC.GOV · WWW.SLCRDA.COM
P.O. BOX 145518, SALT LAKE CITY, UTAH 84114-5518 TEL 801-535-7240 · FAX 801-535-7245
MAYOR ERIN MENDENHALL
Executive Director
DANNY WALZ
Director
STAFF MEMO
DATE: September 22, 2023
PREPARED BY: Erin Cunningham, Financial Analyst
RE: RDA Budget Amendment #1, FY 2023-2024
REQUESTED ACTION: Discussion and approval of Budget Amendment #1
BUDGET IMPACTS: The First Amendment reduces the Agency’s Housing Development Fund by
approximately $6.4 million.
EXECUTIVE SUMMARY: The purpose of this amendment is to align with the City's Second Budget
Amendment, which reallocates $6,476,014 from the Agency's Housing Development Fund to the City's
Miscellaneous Grants Fund.
ANALYSIS & ISSUES: In the Fiscal Year 2024 budget, the Board transferred $6,476,014 in Dormant
HOME Program Income Funds initially allocated in the to Community and Neighborhoods Department to
the Agency's Housing Development Fund. This allocation is intended to be incorporated into the annual
housing Notice of Funding Availability (NOFA) by the Agency. However, due to the specific reporting
obligations associated with these Funds, the City's Finance Department is suggesting a transfer of these
funds to the Miscellaneous Grants Fund.
PREVIOUS BOARD ACTION:
1. Approval of the Fiscal Year 2023-2024 Budget.
ATTACHMENTS: N/A
DEPARTMENT OF FINANCE
POLICY AND BUDGET DIVISION
451 SOUTH STATE STREET, ROOM 238
PO BOX 145467, SALT LAKE CITY, UTAH 84114-5455 TEL 801-535-6394
ERIN MENDENHALL
Mayor
MARY BETH THOMPSON
Chief Financial Officer
RDA BOARD TRANSMITTAL
___________________________________ Date Received: ________________
Mayor Erin Mendenhall, Executive Director Date sent to Council: ___________
______________________________________________________________________________
TO: Salt Lake City RDA Board DATE: September 25, 2023
Alejandro Puy, RDA Chair
FROM: Mary Beth Thompson, Chief Financial Officer
Danny Walz, RDA Director
SUBJECT: RDA Budget Amendment #1, FY 2023-24
SPONSOR: NA
STAFF CONTACT: Greg Cleary, Budget Director (801) 535-6394 or
Mary Beth Thompson (801) 535-6403 or
Mike Burns (801) 565-6461 or
Danny Walz (801) 535-7209
DOCUMENT TYPE: Budget Amendment Resolution
RECOMMENDATION: The Administration recommends that subsequent to a public hearing,
the RDA Board adopt the following amendment to the FY 2023-24 adopted budget.
BUDGET IMPACT:
REVENUE EXPENSE
RDA FUND $ .00 $ 6,476,014.00
TOTAL $ .00 $ 6,476,014.00
Erin Mendenhall (Sep 25, 2023 13:20 MDT)09/25/2023
09/25/2023
EXECUTIVE SUMMARY:
The purpose of the first amendment (“amendment”) is to align the RDA budget with the City’s
second Budget Amendment, which reallocates $6,476,014 from the Agency’s Housing
Development Fund to the City’s Miscellaneous Grants Fund. This amendment is administrative
in nature and is being proposed for accounting and financial tracking purposes.
In the Fiscal Year 2024 budget, the Board transferred $6,476,014 in Dormant HOME Program
Income Funds initially allocated to the Community and Neighborhoods Department to
the Agency's Housing Development Fund. This allocation is intended to be incorporated into the
annual housing Notice of Funding Availability (NOFA) by the Agency. However, due to the
specific reporting obligations associated with these Funds, the City's Finance Department is
suggesting a transfer of these funds to the Miscellaneous Grants Fund.
A summary spreadsheet document, outlining the proposed budget change is attached
(Attachment B). The Administration requests this document be modified based on the decisions
of the Board. The budget amendment contains one item in section D – Housekeeping Items:
A. New Budget Items
B. Grants for Existing Staff Resources
C. Grants for New Staff Resources
D. Housekeeping Items
E. Grants Requiring No New Staff Resources
F. Donations
G. Council Consent Agenda Grant Awards
I. Council Added Items
ATTACHMENTS:
A. Resolution
B. Budget Amendment #1 Summary Spreadsheet
C. RDA Staff Memo
PUBLIC PROCESS: Public Hearing
1
REDEVELOPMENT AGENCY OF SALT LAKE CITY
RESOLUTION NO__________
First Budget Amendment for Fiscal Year 2023-2024
RESOLUTION OF THE BOARD OF DIRECTORS OF THE REDEVELOPMENT AGENCY
OF SALT LAKE CITY AMENDING THE FINAL BUDGET OF THE RDA FOR FISCAL
YEAR 2023-2024.
WHEREAS, on June 13, 2023, the Redevelopment Agency (RDA) Board of Directors
(Board) adopted the final budget of the RDA, effective for the fiscal year beginning July 1, 2023,
and ending June 30, 2024, in accordance with the requirements of Section 17C-1-601.5 of the Utah
Code.
WHEREAS, on May 2, 2023, the Board approved a resolution adopting the tentative final
budget, while reserving consideration of other proposed amendments until a later date.
WHEREAS, all conditions precedent to amend the RDA's final annual budget have been
accomplished.
NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of the
Redevelopment Agency of Salt Lake City:
1. Purpose. The purpose of this resolution is to amend the final annual budget of the
RDA, as approved, ratified and finalized by the Board on June 13, 2023.
2. Adoption of Amendments. The budget amendments shown on Exhibit A as “Board
Approved” are hereby adopted and incorporated into the annual budget of the RDA.
3. Filing of copies of the Budget Amendments. The Salt Lake City Finance
Department, on behalf of the RDA, is authorized and directed to certify and file a copy of said
budget amendments in the office of the Finance Department, the RDA, and the office of the City
Recorder, which amendments shall be available for public inspection.
Passed by the Board of Directors of the Redevelopment Agency of Salt Lake City, Utah,
this day of , 2023, to be effective upon adoption.
________________________________
Alejandro Puy, Chair
Approved as to form: __________________________________
Salt Lake City Attorney’s Office
Allison Parks
2
The Executive Director:
____ does not request reconsideration
____ requests reconsideration at the next regular Agency meeting.
_________________________________
Erin Mendenhall, Executive Director
Attest:
_________________________
City Recorder
3
EXHIBIT A TO RESOLUTION
[Attach Board’s Final Approved Budget Amendment]
Initiative Number/Name Project Area Revenue Amount
Expenditure
Amount
Revenue
Amount
Expenditure
Amount
Ongoing or One-
time FTEs
1 RDA Housing Funds Transfer to Misc Grants Housing Dev Fund - 6,476,014.00 One-time -
-
Total of Budget Amendment Items - 6,476,014.00 - -
Total by Fund, Budget Amendment #1:
Redevelopment Agency RDA - 6,476,014.00 - - -
Total of Budget Amendment Items - 6,476,014.00 - - -
Fiscal Year 2023-24 RDA Budget Amendment #1
Section G: Board Consent Agenda -- Grant Awards
Section I: Board Added Items
Section A: New Items
Section B: Grants for Existing Staff Resources
Section C: Grants for New Staff Resources
Section D: Housekeeping
Section E: Grants Requiring No New Staff Resources
Section F: Donations
Board ApprovedAdministration Proposed
1
Initiative Number/Name Project Area Revenue Amount
Expenditure
Amount
Revenue
Amount
Expenditure
Amount
Ongoing or One-
time FTEs
Fiscal Year 2023-24 RDA Budget Amendment #1
Board ApprovedAdministration Proposed
Current Year Budget Summary, provided for information only
FY 2023-24 Budget, Including Budget Amendments
FY 2023-24
Adopted Budget RDA BA #1 Total Total To-Date
Redevelopment Agency 80,803,841 6,476,014 - 87,279,855
Total of Budget Amendment Items 80,803,841 6,476,014 87,279,855
Certification
Budget Manager
Deputy Director, City Council/RDA Board
Contingent Appropriation and Notes
2
REDEVELOPMENT AGENCY of SALT LAKE CITY
SALT LAKE CITY CORPORATION
451 SOUTH STATE STREET, ROOM 118 WWW.SLC.GOV · WWW.SLCRDA.COM
P.O. BOX 145518, SALT LAKE CITY, UTAH 84114-5518 TEL 801-535-7240 · FAX 801-535-7245
MAYOR ERIN MENDENHALL
Executive Director
DANNY WALZ
Director
STAFF MEMO
DATE: September 22, 2023
PREPARED BY: Erin Cunningham, Financial Analyst
RE: RDA Budget Amendment #1, FY 2023-2024
REQUESTED ACTION: Discussion and approval of Budget Amendment #1
BUDGET IMPACTS: The First Amendment reduces the Agency’s Housing Development Fund by
approximately $6.4 million.
EXECUTIVE SUMMARY: The purpose of this amendment is to align with the City's Second Budget
Amendment, which reallocates $6,476,014 from the Agency's Housing Development Fund to the City's
Miscellaneous Grants Fund.
ANALYSIS & ISSUES: In the Fiscal Year 2024 budget, the Board transferred $6,476,014 in Dormant
HOME Program Income Funds initially allocated in the to Community and Neighborhoods Department to
the Agency's Housing Development Fund. This allocation is intended to be incorporated into the annual
housing Notice of Funding Availability (NOFA) by the Agency. However, due to the specific reporting
obligations associated with these Funds, the City's Finance Department is suggesting a transfer of these
funds to the Miscellaneous Grants Fund.
PREVIOUS BOARD ACTION:
1. Approval of the Fiscal Year 2023-2024 Budget.
ATTACHMENTS: N/A
