06/11/2024 - MinutesThe Board of Directors of the Redevelopment Agency (RDA) of Salt Lake City met on Tuesday,
June 11, 2024.
The following Board Members were present:
Victoria Petro, Daniel Dugan, Sarah Young, Chris Wharton, Alejandro Puy, Darin Mano, Eva
Lopez Chavez
Present Agency Leadership:
Danny Walz – Director, Cara Lindsley – Deputy Director
Present City Staff:
Katherine Lewis – City Attorney, Cindy Lou Trishman – City Recorder, Thais Stewart – Deputy
City Recorder , DeeDee Robinson – Minutes & Records Clerk, Taylor Hill – Constituent
Liaison/Policy Analyst, Scott Corpany – Staff Assistant, Jennifer Bruno – Council Deputy
Director, Allison Rowland – Council Staff, Ben Luedtke – Public Policy Analyst, Kate Werrett –
RDA Project Manager, Tracy Tran – Project Manager, Marcus Lee – RDA Project Coordinator,
Ashley Ogden – RDA Senior Project Manager
Director Chair Puy presided at and conducted the meeting.
The meeting was called to order at 1:00 pm.
MINUTES OF THE REDEVELOPMENT AGENCY OF SALT LAKE CITY
Tuesday, June 11, 2024
1
Comments:A.
1.General Comments to the Board ~ 1:00 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 the RDA Board offices: 451 South State Street,
Suite 304, P.O. Box 145476, Salt Lake City, UT. 84114-5476.
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:
1.Resolution: RDA Budget Amendment No.4 for Fiscal Year 2023-24 -
-
The Board will accept public comment on 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 adjustments to budgets
based on actual property tax increment received to satisfy obligations under state law,
interlocal agreements with other taxing entities, reimbursement agreements with private
property owners, and additional funding for agency operations and the Ballpark NEXT
redevelopment strategy project.
Ben Luedtke provided a brief introduction.
There were no public comments.
Motion:
Moved by Director Dugan, seconded by Director Young to close the public
hearing.
AYE: Daniel Dugan, Sarah Young, Chris Wharton, Darin Mano, Eva Lopez Chavez
ABSENT: Victoria Petro, Alejandro Puy
Final Result: 5 – 0 Pass
MINUTES OF THE REDEVELOPMENT AGENCY OF SALT LAKE CITY
Tuesday, June 11, 2024
2
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 ~ 1:05 p.m.
5 min.
The Board will approve the meeting minutes of April 16, 2024, and May 14, 2024.
Motion:
Moved by Director Dugan, seconded by Director Lopez Chavez to approve.
AYE: Daniel Dugan, Sarah Young, Chris Wharton, Darin Mano, Eva Lopez Chavez
ABSENT: Victoria Petro, Alejandro Puy
Final Result: 5 – 0 Pass
2.Resolution: RDA Budget Amendment No.4 for Fiscal Year 2023-
24 ~ 1:10 p.m.
10 min.
The Board will 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 adjustments to budgets based on actual property tax increment
received to satisfy obligations under state law, interlocal agreements with other taxing
entities, reimbursement agreements with private property owners, and additional
funding for agency operations and the Ballpark NEXT redevelopment strategy project.
Motion:
Moved by Director Dugan, seconded by Director Young to adopt Resolution
8 of 2024.
AYE: Victoria Petro, Daniel Dugan, Sarah Young, Chris Wharton, Darin Mano, Eva
Lopez Chavez
ABSENT: Alejandro Puy
Final Result: 6 – 0 Pass
3.Resolution: Northwest Quadrant Tax Increment Reimbursement
Agreement Follow-up
~ 1:20
p.m.
20 min.
The Board will receive a follow-up briefing about and, consider adopting a resolution
that would approve a Tax Increment Reimbursement Agreement with NWQ, LLC for
infrastructure and property improvements that advance the goals of the community
reinvestment area. Up to 13 planned improvement projects are identified as eligible for
post-performance reimbursement. The projects include a mix of system-wide
improvements benefiting the broader area, such as constructing public roadways, and
project-specific improvements benefiting a particular private property development,
such as solar panels on a warehouse roof.
MINUTES OF THE REDEVELOPMENT AGENCY OF SALT LAKE CITY
Tuesday, June 11, 2024
3
Kate Werrett provided information regarding:
NWQ LLC Tax Increment Reimbursement Phases 2 & 3
• The developer having previously omitted a parcel of land (3.8 acre parcel to be
used as a dedicated road) and it was now added/included in the proposed term
sheet, the amendment causing no change to the Reimbursable Improvement costs,
tax increment projections, or the Maximum Reimbursement
• Background:
◦ Master Plan created for the area – August 2016
◦ Zoning & Overlay Districts – 2016-2018
◦ Community Reinvestment Area (CRA) Established – January 2018
◦ Development Agreement – January 2018
◦ NWQ Tax Increment (TI) Reimbursement Policy – August 2018
◦ NWQ TI Agreement – May 2020
• Project area map detailing the entire CRA project area (3,300 acres, 1,300 of which
could be considered developable)
• Site map detailing the phasing of the project
• Request overview:
◦ Property size: 954.37 total acres
◦ RDA participation: 70%
◦ Term: 20-years or the sum of the remaining collection years of the project
area, whichever was less
◦ Maximum reimbursement: $49,562,855
◦ Eligible expenses: $288,283,201
• Project overview:
◦ Phases II & III would include light industrial warehousing that might
accommodate manufacturing, warehouse, and distribution tenants of
various size
◦ Private investment for the planned system-wide improvements and the
Phase II & III development included over $1.8B in capital expenditures
◦ Approximately 14.7 million square feet of development would be generated
to support 7,300 jobs
• Tax increment sources:
◦ Projecting to create $94M
◦ City portion: 25% – $23,601,359
◦ RDA portion: 75% – $70,804,078
• Tax increment uses:
◦ 70% to the developer
◦ 10% to affordable housing
◦ 10% to RDA Administration
◦ 10% for shared costs
• Public Benefits Analysis
◦ Significant infrastructure improvements in the NWQ area, including soil
remediation, access to utilities, and renewable energy investments
◦ TI participation assisting with removing development impediments, leading
to substantial development in remaining NWQ area
◦ The development having the potential to create billions of new assessed
value with an underutilized area
MINUTES OF THE REDEVELOPMENT AGENCY OF SALT LAKE CITY
Tuesday, June 11, 2024
4
Motion:
Moved by Director Young, seconded by Director Dugan to adopt Resolution
9 of 2024.
AYE: Victoria Petro, Daniel Dugan, Sarah Young, Chris Wharton, Alejandro Puy, Darin
Mano, Eva Lopez Chavez
Final Result: 7 – 0 Pass
Resolution: Amendment to Housing Development Loan Funding 1:40
Allocations for The Catherine
p.m.
20 min.
The Board will receive a briefing about and consider adopting a resolution that
would amend the recent Housing Development Loan Program (HDLP) loan to The
Catherine (Phase 1 and Phase 2) project at approximately 1881 West North Temple. The
amendments would also include a conditional waiver of the 30-year deed restriction that
is standard in HDLP loans and would require the Developer pay an above-market
interest rate on the loan if the project does not progress as planned within two years. The
project is a 372-unit development that would provide studio to three-bedroom rental
apartments at 41-60% Average Median Income (AMI). It received $1.1 million in the
most recent HDLP allocation in March 2024.
Allison Rowland provided an introduction to the briefing.
Tracy Tran and Marcus Lee provided information regarding:
The Catherine Phase 1 & 2 – Housing Development Loan Program Loan
Term Agreement
• Background:
◦ Developer: 22 Communities
◦ Funded through competitive Housing Development Loan Program (HDLP)
Notice of Funding Availability (NOFA) process
◦ RDA Board allocated $15M to 13 of the 15 projects
◦ Both projects ranked 10 of 15
◦ Allocations
◾Phase 1: $1M in HOME Program Income Funds
◾Phase 2: $134,323 in RDA Funds
◦ Mix of studio, one-, two-, and three-bedroom units
◦ Developer seeking to restructure the loan into an acquisition loan
• Project summary
• Proposed amendments:
◦ Amend the loan type for each phase to an acquisition loan that may convert
to a construction to permanent loan within two years
◦ Allow for conditional waiver of affordable deed restriction – removing 30-
year deed restriction by requiring the Developer to pay an above market
interest rate if project cannot secure tax credits, financing, and other
conditions required to close on construction to permanent loan within two
years
• Approved terms vs. proposed amendments
MINUTES OF THE REDEVELOPMENT AGENCY OF SALT LAKE CITY
Tuesday, June 11, 2024
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4.
• Considerations:
◦ Housing Development Loan Policy (HLDP) policy allows for acquisition
loans
◦ The amendment would help with the project’s ability to acquire the property
◦ RDA having taken steps to ensure the developer would not be incentivized to
flip the property
◦ If approved, Developer would purchase the property this month
• RDA Finance Committee having forwarded a positive recommendation with the
requirement that Phase 1 HUD HOME requirements and regulations were met
prior to closing
Director Mano inquired regarding the remaining NOFA projects and if they were
successful in their asks, asked for thoughts from RDA Staff in regards to upcoming NOFA
requests and if the Board needed to reconsider the way funding was prioritized. Tracy
Tran said the information would be provided to the Board.
Motion:
Moved by Director Young, seconded by Director Dugan to adopt Resolution
10 of 2024, with the requirement that the Phase I HUD HOME requirements
and regulations are met prior to closing.
AYE: Victoria Petro, Daniel Dugan, Sarah Young, Chris Wharton, Alejandro Puy, Darin
Mano, Eva Lopez Chavez
Final Result: 7 – 0 Pass
5.Resolution: USA Climbing Property Disposition at Approximately
310 South 500 West
~ 2:00
p.m.
20 min.
The Board will receive a briefing and consider approving a resolution that would
authorize the ground lease rate and terms for USA Climbing’s Headquarters and
National Training Facility at approximately 310 South 500 West. The development is
envisioned to include adaptive reuse of the historic Salt Lake Mattress Company
building, construction of a primary building with multiple climbing walls, and a public
outdoor plaza on the corner. Related improvements could include a temporary surface
parking lot if needed, a permanent parking structure, utility upgrades, new streets, and
reconstruction of existing streets, among other potential projects.
MINUTES OF THE REDEVELOPMENT AGENCY OF SALT LAKE CITY
Tuesday, June 11, 2024
6
Ashley Ogden provided information regarding:
USA Climbing at Rio Grande
• Requested action: RDA Board to consider the resolution and proposed ground
lease terms with USA Climbing (USAC) for the construction of the organization’s
permanent headquarters and national training facility in the Rio Grande District
• Next steps: if approved, RDA and USA Climbing enter an exclusive negotiation
agreement until all conditions were met and final ground lease/development
agreements could be executed
• USA Climbing being the national governing body for the sport of competition
climbing in the United States, relocated to Salt Lake City from Boulder, Colorado in
2018
• USA Climbing project goals:
◦ Provide athletes with spaces/support needed to achieve their best
◦ Host large-scale climbing events
◦ Provide indoor climbing access to the community, including underserved
populations
◦ Provide true accessibility for all as a principal aspect of the design
• The project being a catalytic activation in the Rio Grande District
• Site and project details:
◦ Located at southwest corner of 500 West and 300 South
◦ New 65-75 foot tall building
◦ Approximately 45,000 square foot footprint
◦ Adaptive reuse of Salt Lake Mattress Company building
◦ An outdoor plaza that could be utilized for hosting competitions/other public
events
• Lease area details
• Lease rate details
• Requested lease abatement schedule details
• Common Area Maintenance (CAM) fees to be collected from all Rio Grande District
lessees, used to fund maintenance for publicly owned improvements the RDA was
constructing, at $1.50/per square foot of gross floor area
• Additional community benefits:
◦ Rehab and activation of Salt Lake Mattress Co. building
◦ Design, construction, management of outdoor plaza
◦ 5-year community benefits plan with progress reports to RDA BOD,
including youth programming with K-12 schools, workforce development
opportunities, etc.
• Associated budget impacts – summary of other negotiated areas of RDA financial
participation in the project as well as a few outside costs
• Next steps:
◦ Execute agreement
◦ USAC to refine design and launch capital funding campaign for construction
costs
◦ Coordination on design and construction of district-wide public
improvements
◦ Execute ground lease/development agreements when conditions were met
MINUTES OF THE REDEVELOPMENT AGENCY OF SALT LAKE CITY
Tuesday, June 11, 2024
7
Director Young said it was important for the Board to consider that the City was currently
trying to undo the compartmentalization of an area downtown while, at the same time in
the Rio Grande District, constructing what would be very high walls for this
project; needing to pay attention to the activation 360 degrees around the project to
avoid continued compartmentalization.
Director Mano questioned what would happen in the event the project was not
successful, both during construction or development fundraising, or even once
constructed/operating the business model was not effective and the facility could not be
maintained. Ashley Ogden said that was addressed in the term sheet and it specified that
USAC must be the owner or tenant of those improvements, otherwise they would be
required to seek the RDA’s permission to reassign the improvements or use to another
entity. Danny Walz confirmed this was a ground lease, the RDA would continue to own
the land, the RDA would have recourse throughout the agreement in terms of the status
of the project and retained the ability to approve a reassignment or different use.
Director Mano requested a small group meeting with City Attorneys and the RDA to
understand/discuss the projects terms and what may happen in the event of default.
Danny Walz said the details could be laid out in a meeting with RDA and attorneys to
better understand the terms in place.
6.Redevelopment Agency Budget for Fiscal Year 2024-25 Follow-up ~ 2:20 p.m.
30 min.
The Board will receive a follow-up briefing about the proposed budget for the
Redevelopment Agency of Salt Lake City for Fiscal Year 2024-25.
For more information visit tinyurl.com/SLCFY25.
Jennifer Bruno clarified this item was listed on the agenda for any follow-up questions
from Directors, otherwise to be aware of the motion sheet for the Formal meeting this
evening to consider adopting the final budget for FY25, and further clarified that the
holding accounts that were discussed in previous RDA budget work sessions would come
back to the Board for final approval.
Director Mano thanked Council and RDA Staff for helping the Board get to this point in
the budget season.
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.
MINUTES OF THE REDEVELOPMENT AGENCY OF SALT LAKE CITY
Tuesday, June 11, 2024
8
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:
• Staffing updates; and
• Scheduling Items.
Danny Walz provided the following staff updates:
• Office Facilitator, Felina Lazalde, took a promotion with the City’s Economic
Development Department
• Newly hired employee Meghan Fenton recently started as the new Office
Facilitator
• Newly hired project staff, Browne Sebright
• Wayne Mills, previously with the Planning Department, was recently hired as an
RDA Senior Project Manager
• Lucas Goodrich, agency project staff for the last year and a half, was recently hired
to become the new Director of the Gallivan Center
• RDA’s Communication Manager, Amanda Greenland would be leaving the RDA
after nine years, to be the City’s Public Affairs Manager with the IMS Department
9.Report of the Chair and Vice Chair TENTATIVE
5 min.
Report of the Chair and Vice Chair.
Item not held.
MINUTES OF THE REDEVELOPMENT AGENCY OF SALT LAKE CITY
Tuesday, June 11, 2024
9
Report and Announcements from RDA Staff T(NT$TI9(8.
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: Pre-Disposition and Lessee Selection Report
for Property Assemblage at 310 South 500 West in the Rio
Grande District
Written Briefing
-
The Board will receive a written briefing about plans for the disposition of the property
located at approximately 310 South 500 West. This item is related to a proposed ground
lease to accommodate the development of a USA Climbing facility.
Written briefing only. No discussion was 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.
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
MINUTES OF THE REDEVELOPMENT AGENCY OF SALT LAKE CITY
Tuesday, June 11, 2024
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Adjournment
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, June 11, 2024
11
Meeting adjourned at 2:02 pm.
Minutes Approved: August 13, 2024.
_______________________________
Redevelopment Agency Chair Alejandro Puy
_______________________________
City Recorder – Cindy Trishman
Please refer to Meeting Materials (available at https://data.slc.gov by selecting City Council
Meeting Information) 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, June 11, 2024 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, June 11, 2024
12
Alejandro Puy (Aug 28, 2024 13:11 MDT)
$ndy Tr$.#(an (Aug 28, 2024 20:ф1 MDT)
Approved August 13, 2024 - June 11, 2024 RDA
Meeting Minutes
Final Audit Report 2024-08-29
Created:2024-08-14
By:DeeDee Robinson (deedee.robinson@slcgov.com)
Status:Signed
Transaction ID:CBJCHBCAABAA180_A1I1zYsM0RqEaqaVYHbr-fc5uJCd
"Approved August 13, 2024 - June 11, 2024 RDA Meeting Minut
es" History
Document created by DeeDee Robinson (deedee.robinson@slcgov.com)
2024-08-14 - 10:00:35 PM GMT
Document emailed to alejandro.puy@slcgov.com for signature
2024-08-14 - 10:09:47 PM GMT
Email viewed by alejandro.puy@slcgov.com
2024-08-14 - 10:21:02 PM GMT
Email viewed by alejandro.puy@slcgov.com
2024-08-21 - 7:49:10 PM GMT
Email viewed by alejandro.puy@slcgov.com
2024-08-28 - 9:04:23 AM GMT
Signer alejandro.puy@slcgov.com entered name at signing as Alejandro Puy
2024-08-28 - 7:11:51 PM GMT
Document e-signed by Alejandro Puy (alejandro.puy@slcgov.com)
Signature Date: 2024-08-28 - 7:11:53 PM GMT - Time Source: server
Document emailed to Cindy Trishman (cindy.trishman@slcgov.com) for signature
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Document e-signed by Cindy Trishman (cindy.trishman@slcgov.com)
Signature Date: 2024-08-29 - 2:51:03 AM GMT - Time Source: server
Agreement completed.
2024-08-29 - 2:51:03 AM GMT