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01/08/2025 - MinutesMINUTES OF THE BOARD OF EQUALIZATION CENTRAL BUSINESS IMPROVEMENT DISTRICT (CBIA) WEDNESDAY, JANUARY 8, 2025 1 The Board of Equalization of Salt Lake City, Utah, met on Wednesday, January 8, in a Hybrid Meeting format. The meeting began at 10:04 AM MST The following Board Members were present: Gaby Ewell – Cash & Investment Manager, Ben Luedtke – Senior Public Policy Analyst, Chris Norlem – Engineering Construction Program/Project Manager The following City Staff Members assisted with the meeting: Andie Feldman – Economic Development Project Manager, Sara Montoya – Senior City Attorney, Cindy Lou Trishman, City Recorder Consultant: Ryan Smith – Financial Analyst, Zions Public Finance Inc. 1. Call to Order Andie Feldman called the meeting to order and explained that the rules of decorum could be found near the entrance of the room as well as printed near the podium. Board Members introduced themselves. 2. Approval of Minutes from January 7, 2025, meeting Motion by Board Member Ben Luedtke. Second by Board Member Chris Norlem. Vote was unanimous. 3. Public Comment Period Matt Forsgren of New York Building LLC - (15-01-430-005-0000) asked about combining parcels and conducting individual assessments for each associated parcel. Noted that the buildings were not at full capacity, and the assessment fee was too high to pass down responsibly to tenants, making it difficult to retain them. Requested an adjustment to the assessment due to financial hardship. McKenna Tracy of Liberty Sky Apartments - (16-06-112-003-0000 & 16-06-12- 002-0000) expressed concern for areas under assessment and a discussion was held with Board Members regarding parcel 16-06-127-007-0000, it was concluded that the parcel would not be taxed due to a clerical error. MINUTES OF THE BOARD OF EQUALIZATION CENTRAL BUSINESS IMPROVEMENT DISTRICT (CBIA) WEDNESDAY, JANUARY 8, 2025 2 Bruce Markosian of AAM Investment Limited (parcels 15-02-280-0010-000, 15- 02-279-0010-000, and 15-02-427-0010-000) expressed his understanding that the assessment was intended for high-rise properties, not industrial properties like his. He argued that the district provided no value to his property, and the assessment fees could not be passed on to his tenants without causing financial hardship or potential bankruptcy. He requested that the district boundaries be redrawn to exclude properties west of the railroad track. Andie Feldman reviewed the Board’s authority to reduce assessment fees for specific properties or remove properties from the district entirely. Board Members, along with Sara Montoya, discussed past instances of properties being removed from the district. They noted that such removals were typically due to misclassification. The Board clarified that it did not have the authority to adjust the district boundaries and questioned whether it could reduce an assessment fee to zero without further clarification. Ryan Smith addressed concerns regarding New York Building LLC (parcel 15-01-430- 005-0000), clarifying that only two parcels were receiving assessments, not four, as claimed by the property owner. Board Members and Smith discussed the number of parcels, corresponding assessment fees, and the potential impact on assessment amounts if the parcels were combined. Sara Montoya reviewed the Board's parameters for reducing property assessment fees to zero. Board Members, Andie Feldman, and Ryan Smith discussed the treatment of residential properties, noting that residential uses were excluded from the assessment. If any residential uses were included in error, they would need to be removed. Board Member Ben Luedtke explained the distinction between direct and indirect benefits of being included in the assessment district. He noted that indirect benefits, such as the Street Ambassador Program, could still apply to properties located at the edges of the district. Luedtke suggested clarifying whether the Street Ambassador Program provided services around the Markosian property. Board Members discussed the existence of sidewalks and access around the Markosian property, referencing the patrol areas outlined in the map emailed by Ben Luedtke. Andie Feldman announced that the final meeting would be held on Thursday, January 9, at 1:00 pm and called for a motion to adjourn. MINUTES OF THE BOARD OF EQUALIZATION CENTRAL BUSINESS IMPROVEMENT DISTRICT (CBIA) WEDNESDAY, JANUARY 8, 2025 3 There were no further comments. 4. Adjournment at 11:07 AM Motion to adjourn the meeting by Board Member Chris Norlem. Seconded by Board Member Ben Luedtke. Vote was unanimous. Minutes Approved: February 7, 2025 _________________________ Board Member – Gaby Ewell _________________________ Board Member – Ben Luedtke _________________________ Board Member – Chris Norlem _________________________ City Recorder – Keith Reynolds Please refer to the agenda, or Meeting Materials (available at https://data.slc.gov/ by selecting Boards and Commissions Meeting Information) for supportive content including electronic recordings. This document along with the digital recording constitutes the official minutes of the Board of Equalization Central Business Improvement District meeting held Wednesday, January 8, 2025, 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. Gaby Ewell (Feb 11, 2025 17:02 MST) Gaby Ewell e)%a($) 0e/&e (Feb 11, 2025 17:0ш MST) #-$. *-le( (Feb 12, 2025 0ч:тх MST) )KULV 4RUleP Approved Minutes BOE 1-8-25_v4 Final Audit Report 2025-02-21 Created:2025-02-11 By:Thais Stewart (thais.stewart@slc.gov) Status:Signed Transaction ID:CBJCHBCAABAAlMPgTJ3jmwF_Ld8gA9wwoWn-7eudQAbN "Approved Minutes BOE 1-8-25_v4" History Document created by Thais Stewart (thais.stewart@slc.gov) 2025-02-11 - 11:44:53 PM GMT Document emailed to gaby.ewell@slc.gov for signature 2025-02-11 - 11:54:40 PM GMT Email viewed by gaby.ewell@slc.gov 2025-02-11 - 11:55:00 PM GMT Signer gaby.ewell@slc.gov entered name at signing as Gaby Ewell 2025-02-12 - 0:02:39 AM GMT Document e-signed by Gaby Ewell (gaby.ewell@slc.gov) Signature Date: 2025-02-12 - 0:02:41 AM GMT - Time Source: server Document emailed to Benjamin Luedtke (Benjamin.Luedtke@slc.gov) for signature 2025-02-12 - 0:02:42 AM GMT Email viewed by Benjamin Luedtke (Benjamin.Luedtke@slc.gov) 2025-02-12 - 0:09:17 AM GMT Document e-signed by Benjamin Luedtke (Benjamin.Luedtke@slc.gov) Signature Date: 2025-02-12 - 0:09:31 AM GMT - Time Source: server Document emailed to chris.norlem@slc.gov for signature 2025-02-12 - 0:09:33 AM GMT Email viewed by chris.norlem@slc.gov 2025-02-12 - 6:28:42 AM GMT Signer chris.norlem@slc.gov entered name at signing as Chris Norlem 2025-02-12 - 3:36:51 PM GMT Document e-signed by Chris Norlem (chris.norlem@slc.gov) Signature Date: 2025-02-12 - 3:36:53 PM GMT - Time Source: server Document emailed to Keith Reynolds (Keith.Reynolds@slc.gov) for signature 2025-02-12 - 3:36:55 PM GMT Email viewed by Keith Reynolds (Keith.Reynolds@slc.gov) 2025-02-21 - 8:26:49 PM GMT Document e-signed by Keith Reynolds (Keith.Reynolds@slc.gov) Signature Date: 2025-02-21 - 8:29:23 PM GMT - Time Source: server Agreement completed. 2025-02-21 - 8:29:23 PM GMT