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Home My WebLink About03/18/2025 - MinutesThe Board of Directors of the Community Reinvestment Agency (CRA) of Salt Lake City met on Tuesday, March 18, 2025. The following Board Members were present: Victoria Petro, Daniel Dugan, Sarah Young, Chris Wharton, Alejandro Puy, Darin Mano, Eva Lopez Chavez Present Agency Leadership: Mayor Erin Mendenhall, Rachel Otto – Chief of Staff, Lindsay Nikola – Deputy Chief of Staff, Danny Walz – Director, Cara Lindsley – Deputy Director Present City Staff: Mark Kittrell – City Attorney, Keith Reynolds – City Recorder, Michelle Barney – Minutes & Records Clerk, Isaac Canedo – Public Engagement Communication Specialist, Taylor Hill – Constituent Liaison/Policy Analyst, Scott Corpany – Staff Assistant, Allison Rowland – Council Staff, Kate Werrett – CRA Project Manager, Tracy Tran – Project Manager, Marcus Lee – CRA Project Coordinator, Ashley Ogden – CRA Senior Project Manager, Browne Sebright – CRA Project Manager , Lauren Parisi – CRA Senior Project Manager, Kristina Harrold – CRA Project Manager , Austin Taylor – CRA Project Manager , Eric Holmes – CRA Project Manager Director Chair Mano presided at and conducted the meeting. The meeting was called to order at 2:02 pm MINUTES OF THE COMMUNITY REINVESTMENT AGENCY OF SALT LAKE CITY Tuesday, March 18, 2025 1 Comments:A. 1.General Comments to the Board ~ 2:00 p.m. 5 min. The CRA Board of Directors will receive public comments regarding Community Reinvestment Agency business in the following formats: 1.Written comments submitted to the CRA Board offices: 451 South State Street, Suite 304, P.O. Box 145476, Salt Lake City, UT. 84114-5476. 2.Comments to the CRA Board of Directors. (Comments are taken on any item not scheduled for a public hearing, as well as on any other CRA Business. Comments are limited to two minutes.) Director Mano reviewed the rules of decorum. There were no public comments for this agenda item. 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.Community Reinvestment Agency Business - The CRA Board of Directors will receive information and/or hold discussions and/or take action on: 1.Resolution: Housing Development Loan Program (HDLP) Allocations for Fiscal Year 2024-25 Funds ~ 2:05 p.m. 30 min. The Board will receive a briefing about and will consider adopting a resolution that would approve up to $5.3 million in FY25 affordable housing allocations from HDLP funds. The proposed projects were selected through a competitive Notice of Funding Availability (NOFA) issued in 2024. The HDLP funds are available to projects located anywhere within Salt Lake City municipal boundaries. Allison Rowland provided a brief overview of the allocation proposals. Kate Werrett, Marcus Lee, and Austin Taylor provided a presentation regarding the loan program qualifications and proposed allocations. Directors, Marcus Lee, Austin Taylor, Allison Rowland, Jennifer Bruno, and Kate Werrett discussed: MINUTES OF THE COMMUNITY REINVESTMENT AGENCY OF SALT LAKE CITY Tuesday, March 18, 2025 2 •The number of funding applications received and if applicants who withdrew, did so due to threshold requirements •Potential factors that could affect the number of applications for 2025 •Whether allocating additional funding for increased construction material prices was in the City's best interest ◦Directors and Staff agreed to implement the process outlined in the Capital Improvement Program (CIP) for managing project cost over/under-run •Criteria for allocating funding for each application Director Mano was recused from the discussion regarding the Northwest Pipeline due to volunteer service on the Housing Authority Board/Housing Assistance Management Enterprise (HAME). Directors, Marcus Lee, Austin Taylor, Allison Rowland, Jennifer Bruno, and Kare Werrett discussed: •Northwest Pipeline proposal, the nature of the current request for Phase One funding, and the potential negative impact a lack of funding could have on the project •Whether project capacity was considered when funding was allocated and what assurances were provided to ensure the completion of the Northwest Pipeline project •Directors agreed that, given the nature of the Northwest Pipeline building/project, they would like the Northwest Pipeline applicants to return to the CRA to explore funding options if federal funding was no longer available Director Mano returned to the meeting to call for the general motion (excluding the Northwest Pipeline). Director Puy arrived during this agenda item. Motion: Moved by Director Puy, seconded by Director Lopez Chavez to adopt Resolution 02 of 2025 approving Housing Development Loan Program (HDLP) allocations for fiscal year 2024-25 for the Northwest Pipeline project funding. AYE: Victoria Petro, Daniel Dugan, Sarah Young, Chris Wharton, Alejandro Puy, Eva Lopez Chavez RECUSED: Darin Mano Final Result: 6 – 0 Pass Motion: Moved by Director Lopez Chavez, seconded by Director Puy to adopt Resolution 02 of 2025 approving Housing Development Loan Program (HDLP) allocations for fiscal year 2024-25 except the Northwest Pipeline project. AYE: Victoria Petro, Daniel Dugan, Sarah Young, Chris Wharton, Alejandro Puy, Eva Lopez Chavez, Darin Mano MINUTES OF THE COMMUNITY REINVESTMENT AGENCY OF SALT LAKE CITY Tuesday, March 18, 2025 3 Final Result: 7 – 0 Pass 2.Resolution: Accessory Dwelling Unit (ADU) Financing Program Allocation for Fiscal Year 2024-25 Funds ~ 2:35 p.m. 30 min. The Board will receive a briefing about and will consider adopting a resolution that would approve $2.9 million in funding for the Community Development Corporation of Utah’s (CDCU) ADU Financing Program through a competitive Notice of Funding Availability (NOFA) issued in 2024. Approximately $1.9 million of these funds were set aside for use within the 9-Line Project Area and the balance can be used anywhere in the City. Allison Rowland provided a brief overview of the program. Austin Taylor and Browne Sebright provided a brief overview of the financing program. Directors, Allison Rowland, Browne Sebright, and Austin Taylor discussed: •Whether deed restrictions existed on the 80% Area Median Income (AMI) threshold for ADUs •Protocol for renter's income increasing above the 80% AMI threshold ◦AMI was reviewed at the time of application, not throughout the time of residency •Whether the applicant was required to live in the ADU or the primary residence •Tenant qualification for ADUs approved through Community Development Corporation of Utah (CDCU) •Program timeline, options for expanding the program after the two-year trial period and to the west side of the city Motion: Moved by Director Puy, seconded by Director Wharton to adopt Resolution 01 of 2025 approving the Accessory Dwelling Unit financing program allocation for fiscal year 2024-25. AYE: Victoria Petro, Daniel Dugan, Sarah Young, Chris Wharton, Alejandro Puy, Eva Lopez Chavez, Darin Mano Final Result: 7 – 0 Pass 3.Resolution: Wealth-Building Funding Allocations for Fiscal Year 2024-25 Funds ~ 3:05 p.m. 20 min. The Board will receive a briefing about and will consider adopting a resolution that would approve the proposed funding allocations for applications received through the Residential Wealth-Building Notice of Funding Availability (NOFA) issued in 2024. Nearly $3.3 million has been set aside to fund wealth-building opportunities through affordable housing, and through family and workforce housing with three or more bedrooms within City boundaries. MINUTES OF THE COMMUNITY REINVESTMENT AGENCY OF SALT LAKE CITY Tuesday, March 18, 2025 4 Allison Rowland provided a brief overview of the funding. Tracy Tran and Browne Sebright provided a brief overview of the Resolution. Directors, Allison Rowland, Browne Sebright, and Tracy Tran discussed: •Reason for limiting program funding to twenty households •Process for funding, loan repayment, and loan terms •Ramifications if an applicant was unable to repay the loan Director Mano was recused from the discussion regarding the Northwest Pipeline due to volunteer service on the Housing Authority Board/Housing Assistance Management Enterprise (HAME) Directors, Allison Rowland, Browne Sebright, and Tracy Tran discussed: •Proposed sale prices for the Northwest Pipeline building Director Young left during this agenda item. Todd Reeder (Community Development Corporation of Utah) explained the purpose and nature of the proposed loans, and consequences if a homeowner was unable to repay the loan or wished to extend loan terms. Director Mano returned to the meeting to call for the general motion (excluding the Northwest Pipeline). Motion: Moved by Director Puy, seconded by Director Dugan to adopt Resolution 03 of 2025 approving Citywide Affordable Housing project funding allocation for the residential Wealth-Building pilot program awarded to Community Development Corporation of Utah. AYE: Victoria Petro, Daniel Dugan, Chris Wharton, Alejandro Puy, Eva Lopez Chavez, Darin Mano ABSENT: Sarah Young Final Result: 6 – 0 Pass Motion: Moved by Director Puy, seconded by Director Lopez Chavez to adopt Resolution 03 of 2025 approving Citywide Affordable Housing project funding allocation for the residential Wealth-Building pilot program awarded to the Housing Assistant Management Enterprise. AYE: Victoria Petro, Daniel Dugan, Chris Wharton, Alejandro Puy, Eva Lopez Chavez RECUSED: Darin Mano ABSENT: Sarah Young Final Result: 5 – 0 Pass 4.Resolution: Commercial Development Loan Program Policy ~ 3:25 p.m. 20 min. MINUTES OF THE COMMUNITY REINVESTMENT AGENCY OF SALT LAKE CITY Tuesday, March 18, 2025 5 The Board will receive a briefing about and will consider adopting a resolution that would create the Commercial Development Loan Program (CDLP) policy to replace the existing Loan Policy and Granary Adaptive Reuse Policy. The adaptive reuse program would be made available in all CRA project areas. The CDLP is proposed to support the real estate and financial needs of local businesses and non-profits through several policy changes, including expanding applicant eligibility to long-term ground lessees and tenants, requiring residential and commercial displacement to be addressed, and making the Board’s annual priorities for the Housing Development Loan Program also apply to the CDLP among other changes. Cara Lindsley, Ashley Ogden, and Kristina Harrold provided a brief overview of the Resolution. Directors, Cara Lindsley, Ashley Ogden, and Kristina Harrold discussed: •Qualifying factors for the loan program •Age and condition of buildings that would be considered for the program •CRA’s role in managing the loan process Motion: Moved by Director Dugan, seconded by Director Puy to adopt Resolution 04 of 2025, approving the Commercial Development Loan Program with the exception of the aspect of the proposal enabling the finance committee to approve loans under five hundred thousand dollars ($500,000). AYE: Victoria Petro, Daniel Dugan, Chris Wharton, Alejandro Puy, Eva Lopez Chavez, Darin Mano ABSENT: Sarah Young Final Result: 6 – 0 Pass 5.Resolution: Pickle and Hide Mixed-Use Development Tax Increment Reimbursement Request ~ 3:45 p.m. 20 min. The Board will receive a briefing about and will consider adopting a resolution that would approve a Tax Increment Reimbursement Agreement with Mountain West Development, LLC, for Phase I and II of the Pickle & Hide development in the 900 South Housing and Transit Reinvestment Zone (HTRZ). The Pickle & Hide development is a mixed-use project located in the City’s Granary District and 900 South HTRZ to be constructed in two phases. Phase I features the renovation of the 1919 Bissinger Co. Hides building (Hide) and will serve as the entry to 5,500 square feet of commercial space and a new, multifamily addition. Phase II of the project includes the restoration of the 1894 Utah Pickle Co. building (Pickle) into 14,500 square feet of retail space. Lauren Parisi provided a brief overview. Directors and Lauren Parisi discussed: •Creation of 900 South Housing and Transit Reinvestment Zone (HTRZ), parcel identification, tax increment collection, and funding allocation for the project MINUTES OF THE COMMUNITY REINVESTMENT AGENCY OF SALT LAKE CITY Tuesday, March 18, 2025 6 •What happened to the tax increment if the developer did not ask for reimbursement •Whether a developer could request tax increments that were not within their project area •Developer’s process for calculating generated income •Options for exchanging community benefits such as water-wise landscaping and electric yard tool use for applicant-requested waivers Brandon Blaser (Blaser Ventures) and Gretchen Milliken (Blaser Ventures) spoke regarding landscaping plans for the development, the potential for water-wise landscaping on the property and stated the use of electric yard tools might pose a challenge due to third-party contractors hired to maintain the property. Council Member Young returned to the meeting during this agenda item. Motion: Moved by Director Young, seconded by Director Wharton to adopt Resolution 05 of 2025, approving Pickle and Hide Mixed-Use Development tax increment reimbursement request with the additional requirement of water-wise landscaping, smart irrigation systems, and to the extent possible zero emission landscaping equipment. AYE: Victoria Petro, Daniel Dugan, Sarah Young, Chris Wharton, Alejandro Puy, Eva Lopez Chavez, Darin Mano Final Result: 7 – 0 Pass 6.Informational: Housing Development Funding Strategy Fiscal Year 2025-26 ~ 4:05 p.m. 20 min. The Board will receive an introductory briefing about the proposed Housing Development Funding Strategy for Fiscal Year 2025-26. The Housing Development Funding Strategy includes: a projected amount of revenue to be allocated to each Housing Fund for the upcoming fiscal year; proposed housing funding priorities for the upcoming fiscal year; and the proposed funding allocations for specific housing activities for the upcoming fiscal year. Allison Rowland, Browne Sebright and Tracy Tran provided a brief overview of the development fund. Directors, Browne Sebright, Eric Holmes and Tracy Tran discussed: •Cause of the decrease in family size within the city •Number of married couples with and without children •How inflation compared to wage gains •Options for comparing income data to national trends/other cities MINUTES OF THE COMMUNITY REINVESTMENT AGENCY OF SALT LAKE CITY Tuesday, March 18, 2025 7 Directors commended CRA Staff for the work on the report/project, expressed support for maintaining current housing programs, and voiced concern over the lack of applications for grant funding. Further discussion included options to attract and inform potential applicants, suggested creating a point system for development programs; options for collaborating with other CRA entities, and considering funding opportunities for Westside initiatives. 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. There was no report from the Executive Director. 8.Report of the Chair and Vice Chair TENTATIVE 5 min. Report of the Chair and Vice Chair. Director Mano stated the Limited CRA meeting, scheduled for March 25, 2025, would be to discuss the 900 South underpass project. 9.Report and Announcements from CRA 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; •Staff Updates; •Gallivan Center Updates; and •Scheduling Items. Danny Walz provided updates regarding new personnel, recent events, and upcoming projects. MINUTES OF THE COMMUNITY REINVESTMENT AGENCY OF SALT LAKE CITY Tuesday, March 18, 2025 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: Semiannual Status Report on CRA Commercial Loan Portfolio Written Briefing - The Board will receive a written briefing about the status of the CRA’s commercial loan portfolio. This report identifies the following: •New loans approved between July 1, 2024 and December 30, 2024 •Remaining amount available in the existing portfolio •Outstanding principal for the Revolving Loan Fund •Any delinquencies Written briefing only. 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: MINUTES OF THE COMMUNITY REINVESTMENT AGENCY OF SALT LAKE CITY Tuesday, March 18, 2025 9 Adjournment (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 COMMUNITY REINVESTMENT AGENCY OF SALT LAKE CITY Tuesday, March 18, 2025 10 Meeting adjourned at 5:03 pm Minutes Approved: May 13, 2025 _______________________________ Community Reinvestment Agency Chair Darin Mano _______________________________ City Recorder Keith Reynolds 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 Community Reinvestment Agency meeting held Tuesday, March 18, 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. MINUTES OF THE COMMUNITY REINVESTMENT AGENCY OF SALT LAKE CITY Tuesday, March 18, 2025 11 Darin Mano (May 16, 2025 11:37 MDT) CRA Minutes 3-18-25 Approved Final Audit Report 2025-05-16 Created:2025-05-14 By:STEPHANIE ELLIOTT (STEPHANIE.ELLIOTT@slc.gov) Status:Signed Transaction ID:CBJCHBCAABAACp40LA6RrNl3czuGHlxVbZZa6tGejEIV "CRA Minutes 3-18-25 Approved" History Document created by STEPHANIE ELLIOTT (STEPHANIE.ELLIOTT@slc.gov) 2025-05-14 - 5:56:36 PM GMT Document emailed to darin.mano@slc.gov for signature 2025-05-14 - 5:57:21 PM GMT Email viewed by darin.mano@slc.gov 2025-05-14 - 7:14:05 PM GMT Signer darin.mano@slc.gov entered name at signing as Darin Mano 2025-05-16 - 5:37:45 PM GMT Document e-signed by Darin Mano (darin.mano@slc.gov) Signature Date: 2025-05-16 - 5:37:47 PM GMT - Time Source: server Document emailed to Keith Reynolds (Keith.Reynolds@slc.gov) for signature 2025-05-16 - 5:37:49 PM GMT Email viewed by Keith Reynolds (Keith.Reynolds@slc.gov) 2025-05-16 - 9:22:25 PM GMT Document e-signed by Keith Reynolds (Keith.Reynolds@slc.gov) Signature Date: 2025-05-16 - 9:22:44 PM GMT - Time Source: server Agreement completed. 2025-05-16 - 9:22:44 PM GMT