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08/08/2023 - MinutesThe 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 1 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 2 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 3 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 4  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 5 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 6 Meeting adjourned at 3:36 pm Minutes Approved: October 10, 2023 _______________________________ 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 7 Alejandro Puy (Oct 10, 2023 18:34 MDT) August 8, 2023 RDA Approved Minutes Final Audit Report 2023-10-13 Created:2023-10-10 By:STEPHANIE ELLIOTT (stephanie.elliott@slcgov.com) Status:Signed Transaction ID:CBJCHBCAABAAmaP3E9YedJmSq77Oldn_qeLZnYXQ2v6j "August 8, 2023 RDA Approved Minutes" History Document created by STEPHANIE ELLIOTT (stephanie.elliott@slcgov.com) 2023-10-10 - 11:46:21 PM GMT Document emailed to alejandro.puy@slcgov.com for signature 2023-10-10 - 11:47:13 PM GMT Email viewed by alejandro.puy@slcgov.com 2023-10-11 - 0:33:50 AM GMT Signer alejandro.puy@slcgov.com entered name at signing as Alejandro Puy 2023-10-11 - 0:34:43 AM GMT Document e-signed by Alejandro Puy (alejandro.puy@slcgov.com) Signature Date: 2023-10-11 - 0:34:45 AM GMT - Time Source: server Document emailed to Cindy Trishman (cindy.trishman@slcgov.com) for signature 2023-10-11 - 0:34:46 AM GMT Document e-signed by Cindy Trishman (cindy.trishman@slcgov.com) E-signature obtained using URL retrieved through the Adobe Acrobat Sign API Signature Date: 2023-10-13 - 6:18:05 PM GMT - Time Source: server Agreement completed. 2023-10-13 - 6:18:05 PM GMT