03/03/2021 - Minutes MINUTES
FROM THE MEETING OF THE
REDEVELOPMENT ADVISORY COMMITTEE
Wednesday, March 3, 2021
4:00 p.m.
This meeting was an electronic meeting pursuant to Salt Lake City Emergency
Proclamation No. 2 of 2020 (2)(b).
Chairperson Doughty read the following statement:
I, Brian Doughty, Redevelopment Advisory Committee Chair, hereby determine that conducting
the Redevelopment Advisory Committee meeting at the anchor location presents a substantial risk
to the health and safety of those who may be present at the anchor location. The World Health
Organization, the President of the United States, the Governor of Utah, the Salt Lake County
Health Department, Salt Lake County Mayor, and the Mayor of Salt Lake City have all recognized
a global pandemic exists related to the new strain of the coronavirus, SARS- CoV-2.
Due to the state of emergency caused by the global pandemic, I find that conducting a meeting at
an anchor location under the current state of public health emergency constitutes a substantial risk
to the health and safety of those who may be present at the location. Moreover,the City&County
Building, which is the anchor location for Redevelopment Advisory Committee meetings, is
presently closed for regular occupation due to damages sustained during the March 2020
earthquakes.
1. Roll Call
The following members were present:
Brian Doughty, Chairperson Mojdeh Sakaki, Vice-Chairperson
Claudia O'Grady Jason Head
Mark Isaac
The following members were absent:
None
Also Present:
Danny Walz, Chief Operating Officer; Tammy Hunsaker, Deputy Chief Operating
Officer; Robyn Stine, Office Facilitator; Allison Parks, Senior City Attorney; Kort Utley,
Senior Project Manager, Lauren Parisi, Project Manager,
2. Briefing by the Staff
A. Utah Theater Historical Documentation—Lauren Parisi, Project Manager
Ms. Parisi gave an update on the preservation effort for the Utah Theater, also known as the
Pantages Theater. She said the documentation of the Utah Theater was one of a couple
contingencies that the Redevelopment Agency Board of Directors (Board)put on the land write-
down of the Utah Theater. She said this project is now complete and RDA staff wanted to share
it with the Redevelopment Advisory Committee (RAC) and explain what happened.
Ms. Parisi said in March of 2020, the RDA released the request for proposals for this project for
the historic documentation of the Theater, historically known as the Pantages, named after the
original property owner,Alexander Pantages. She said the RDA received nine proposals and
ultimately, the selection committee chose local design firm Modern Out West. She said they
began their work inside the Theater in July 2020, and here are the deliverables that they
produced.
Ms. Parisi explained that Modern Out West updated the intensive level survey for the property to
the State Historic Preservation Office standards, and this included a lot of research and
compiling of historic records. They produce different types of experimental drawings, including
things like pencil sketches, charcoal drawings, watercolors, and streetscapes, as well as more
traditional architectural drawings of the building. She said that professional photographs were
taken of the existing buildings and architecturally significant features by professional
photographers on the team. Adding that drone video footage was recorded of the interior of the
Theater and a 3D scan was produced of the building with the associated cloud point data set
being archived. And a virtual reality tour was created from the scan.
Ms. Parisi said that Modern Out West wrapped up their project in November and submitted all
the documentation to the Utah State Historic Preservation Office which is in the process of
digitizing all the historic building files. Once the files are digitized, they will be hosted by the
University of Utah's Marriott Library where the public will be able to access everything digitally
on the Marriott's Special Collections website. She said Modern Out West also created an
interactive website specific to the Pantages Theater, called The Pantages Theater Archive,that
can be accessed publicly at https://pta.lib.utah.edu/. She said the public can read more about the
Theater's history, view photographs and architectural drawings, and even take a virtual tour of
the Theater. Ms. Parisi highly recommended that all RAC members look at the website that
Modern Out West created. She then went through some of the drawings and photos (attached).
Ms. Sakaki asked how they should respond to the public when they ask about the Utah Theater.
Mr. Walz said to feel welcome to forward any questions to the RDA staff and we will be happy
to address it. He also said staff would be happy to provide information that can be shared by
RAC members.
3. Business
A. Housing Development Loan Program Policy Follow-Up—Tammy Hunsaker, RDA
Deputy Director
Ms. Hunsaker said the last time RAC met in December,RDA staff reviewed a draft of the
Housing Development Loan Program(HDLP) and there is an updated draft in the packet for this
meeting. She said there have been a couple of modifications since the packet was emailed out
and she will review those with RAC to obtain feedback before it goes to the RDA Board later in
March.
Ms. Hunsaker said to review, at the last RAC meeting, members reviewed the RA Housing
Allocation Funds Policy that would establish four different accounts for the housing funds to go
into on an annual basis. At that time, RAC recommended for the Board to approve that policy,
which the Board adopted in February 2021. She said at the same meeting, the Board reviewed
the HDLP draft policy and provided some feedback which brings RDA staff back before RAC,
bringing a final draft of this policy incorporating both RAC and the RDA Board's feedback in
this new version.
Ms. Hunsaker explained that the Housing Development Loan Program is to provide a one-stop-
shop for developers and development partners to access funds for housing development and
preservation within Salt Lake City. She said it would be funded by a mix of tax increment and
sales tax funds that are earmarked for affordable housing, and Inland Port housing funds that the
RDA will be receiving. She said it has been adopted by the Board, that on an annual basis, the
RDA will put together a funding strategy that outlines how much housing revenues staff thinks
the RDA will have for the upcoming budget year, and how those revenues should be spent
between allocating it to the Housing Development Loan Program, or potential acquisitions across
the City. She added the RDA is wanting flexibility to be able to tailor Agency priorities to
community needs, and to changing policies across the City.
Ms. Hunsaker said the HDLP policy includes a series of intent statements that are meant to be
higher level intent statements that will remain over time as this policy is intended to be long
standing, and then we can get more flexible with funding priorities on an annual basis. Ms.
Hunsaker said the changes to the policy since RAC last reviewed it are in red on the presentation
(attached). She then reviewed the intent statements, highlighting the changes to the policy:
1. Provide a mix of affordable housing, serving a range of households and income levels,
consistent with income limits and affordability requirements for each fund source,to
promote housing opportunity and choice throughout the City for household sizes ranging
from single persons to families.
2. Foster a mix of household incomes in projects and neighborhoods and to disperse
affordable housing projects throughout the City to achieve a balance of incomes in all
neighborhoods and communities.
3. Promote equity and anti-displacement efforts through the development and preservation
of affordable housing in low-income neighborhoods where underserved groups have
historic ties, including neighborhoods where low income individuals and families are at
high risk of displacement.
4. Contribute to the development of sustainable, walkable neighborhoods to expand housing
choice near transportation, services, and economic opportunity.
5. Support an array of scale of project types, including detached housing, accessory
dwelling units, rowhouses, and small to large scale multifamily buildings, that contribute
to neighborhood context and livability.
6. Incorporate green-building elements and energy efficiency to lower housing expenses,
conserve resources, and promote resiliency.
7. Leverage private and non-city funding sources to ensure the greatest number of quality
affordable housing units are preserved or produced.
8. Be provided as loans that are repaid over time and not grants, forgivable loans, or
indefinitely deferred loans.
Ms. Hunsaker said number five was added to the intent statements after hearing from RAC and
the Board that the Agency is not just funding extremely large apartment buildings, but also to
allocate funding to smaller projects within neighborhoods. She said that this these funds are
really intended to be revolving in nature and not provided as grants or forgivable loans.
Ms. Hunsaker explained that the administration process is the same as when RAC reviewed it
before -that funds will be issued through a competitive and transparent notice of funding
availability (NOFA)process and will include the funding priorities as determined by the Board
annually. She said NOFAs may be offered on an annual basis, or multiple times per year and can
be competitive or open-ended depending on the priorities. She added that a NOFA could be
targeted to a specific need in the community like homeownership.
Ms. Hunsaker said there is basic eligibility requirements that are pretty standard such as there has
to be a demonstrated financing gap, site control, the developer must be in good standing with not
only the City,but other state or other local governments and state agencies. She said the RDA is
requiring a relocation plan that complies with the Uniform Relocation Act if relocation is
necessary, although the Agency is strongly discouraging the displacement of people from
happening. She added that projects must comply with all design guidelines and zoning, which
was added based on feedback from the RDA Board.
Ms. Hunsaker said when RAC reviewed the previous version, there was a flat interest rate with
the ability for an interest rate reduction of 0.5%per public benefit criteria that is based on the
current year's funding priorities. She said the RDA Board wanted to tie that base interest rate to
an index, which staff had considered and discussed internally even though it seems like a lot of
housing programs across the country, and even locally,have a flat interest rate. She said it has
now been modified so that it is tied to the US Treasury's yield curve rate. Adding that the RDA
did a hybrid where it would be tied to the US Treasury yield, but also include a maximum not-to-
exceed base interest rate. The intent is that over time, if interest rates increase considerably, our
base interest rate will not go too high. She said for rental construction loans the maximum
interest rate would be 3%,bumped up to 4% for cash flow loans because they're riskier,
acquisition loans would max out at 3% as would homeownership construction loans. She added
that the US Treasury yield rate for acquisition and homeownership would be based on a shorter
term so it would start out lower. She said that the evaluation and approval process is remaining
the same starting with staff eligibility review,then going to a review committee, the RDA Board
of Directors, and then to a funding commitment and loan closing. She said staff are setting up a
standardized process for monitoring and compliance, either internally or through a third party, on
an annual basis.
Ms. Hunsaker said other updates of the policy is a shortened affordability period for home
ownership to 15 years and clarifying that affordability restrictions must be for rent and income.
She explained that long affordability periods for homeownership are hard to administer and track
the future sales of the property. Adding that if affordability restriction is just on rent, a developer
might not necessarily be required to income qualify each household,which defeats the purpose
and the reason staff wanted to make it clear that the restrictions are for rent and income.
Ms. Hunsaker explained that a section on loan modification was added after the packet was sent
using the same language that is in the RDA loan program. She said it provides an administrative
process for forbearance or deferment of loans, which is up to one year allowing allow the RDA
Executive Director(i.e. Mayor) to make that decision. She said beyond one year, it would
require going through the review committee and then onto the Board as well as any loan write
down. She added that the recent changes are being reviewed by the City Attorney's Office.
Ms. O'Grady asked about if the interest rate is tied to the 10-year Treasury yield and that could
be a concern because as the Treasury increases the interest rates that is when developers need a
more flexible rate. Ms. Hunsaker said that is why the Agency set a cap to the interest rate so as
not to negatively impact the project. She added that developers can get 0.5% off for each funding
priority, which are set every year to be tailored to current community need, but the interest rate
can never go below 1%.
Ms. O'Grady asked about the affordability period for homeownership and Ms. Hunsaker said the
minimum is 15 years and that the RDA could require a longer affordability period if determined
through the analysis of a specific project.
Mr. Head commented that by not tying the interest rate to the Treasury and capping it at 3-4%, it
is like giving away free money and asked for clarification.
Ms. Hunsaker confirmed this is accurate and that the interest rate would be locked in within a
month of loan closing. Mr. Walz explained that based on Ms. Hunsaker's research, 3%to 4% are
pretty much in line to other housing trust funds with many having a flat rate. He added that if the
Agency was in the business of just trying to get the highest rate of return on our money, there is
plenty of other opportunities out there that the Agency could probably get an actual financial
return on our dollars. As a government, the Agency is bound by the State's Treasury and
investment fund that provides the rate of return that is not extremely high. He added that what
the RDA's priority is what is being provided as a public benefit, which in this case is affordable
housing.
Ms. O'Grady agreed and said if Salt Lake City wants to see affordable housing built, it needs to
participate at levels that are not as good as market returns.
Ms. Sakaki asked what the definition of affordable housing is.
Mr. Walz said that it starts at the federal level in terms of how the federal government defines
affordability. He said in general, affordable housing means that one should spend no more than
30% of your income on your housing costs which consists of mortgage or rent and utilities. From
that point, the federal Housing and Urban Development Department provides the standards of
which the median income is calculated per region, which would be determined across the entire
the Salt Lake County area. Mr. Walz said based on median income determination, there are set
limits for whether it is one individual, family of four or family of six on a sliding scaled based on
how many people and it then becomes a percentage of that AMI. For instance, 80% of AMI is
housing that is affordable to someone whose income is 80% of what that median level is for the
entire County. He added the different percentages represent how deeply affordable housing could
be from 80% down to 40% and below is what is deeply targeted, affordable housing. He said the
AMI is a sliding scale based on region, then the number of people in the family unit, and finally
the personal life situation. Adding that income targeted housing helps identify what level of
affordability is needed and who is the target tenant.
Ms. Hunsaker said Staff is requesting RAC make a motion recommending approval of the policy
as presented, adding that RAC could recommend approval of the policy as presented with some
suggestions for modifications or select not to recommend approval of the policy. If there are any
substantive changes that come out of the City Attorney's office, or any last-minute changes, staff
will bring the policy back to RAC for future review.
Ms. Sakaki made a motion to recommend the housing development loan program policy as
presented. Mr. Isaac seconded the motion. Upon roll call, the motion passed unanimously.
4. Adjournment.
There being no further business the meeting was adjourned.
Brian /i ht
(Apr T, Iq MDT)
Brian Doughty, Chairperson
This document along with the digital recording constitute the official minutes of the
Redevelopment Advisory Committee held March 3, 2021.
Utah Theater Historic Documentation
Modern Out West —
• Updated intensive level survey to the Utah State Historic Preservation Office's standards involving the
collection of Sanborn maps, original blueprints, newspaper clippings, tax files, title reports, historic
concert programs, etc.
• Experimental drawings including pencil sketches, charcoal drawings, watercolors and streetscapes of
the existing and original building
• Architectural drawings including a site plan, elevations, floor plans, cross sections, reflected ceiling
plans, analytiques and detailed drawings of architecturally significant features throughout the building
• Photographs including a collection of historic photos as well as new, professional photos taken of the
existing building and architecturally significant features
• Drone video footage of the Theater's interior 1110
• 3D scan of the building and associated point cloud data
• Virtual reality tour of the building <TLAK
• Interactive online archive/website accessible to the public at https://pta.lib.utah.edu/
yr -
.- _.
—
.;,,:i _;:.:27';:--). i 1 44H.E.-.."--'.'-'.....--'--•
- .z
.. ,-- • • ..ri ' ,... • .,,,---. 1:---,Alir... ,
-...: -,iiiiii
Information is accessible at: - i'
-:t.4 • Utah State Historic Preservation Office (SHPO),/ , ,- 1 1 I -
r
University of Utah's J. Willard Marriott Library -~ --=��' T L; -4
- ¢., II il :.r �stehL -.
i ,:. r• 4 i -
_ �+ III !I :�E� I � .y
Inter r__ ;a_ - .. - - -=. F.P - system , _. ;;.
� _: -, -
IT
- - _ �1 _
11 1
..-;-...Ga-i -_:„_• ., �
sl _ r . a f t ;1 1 �=' 'V
�• `" �� 5^;`�+may s. _ 4 '' '��, `' rt' WI '1 #g��' �yL
6 �r:t :,s I s 5 ,,,,i.-, �l s A r_, [�¢' �_ f;ttil ,„.. i 9„
Experimental Drawings
. .. . ..
w i
_ . , ...._ ., .,._.
,,,„ .• ..‘ ,.
. . . •....,
., , _..,.„, .„ : . ....„ ....„.„ .7„.-.......„. ..,• •.,, , ,
,-• ... . . .___ . • . tq...,,.• -1r'.. •
t .1 ...„ ,.,,. , „ -:-...„., ..,,.,., ,,,..„6„.: :,.:,•.i. „
:
ittl - v' ,9''• ,,.._.
• -.-40- ,;)
i,. . . _ 4._ __.. ::, :::-.k...,-, .-:•.v..:. - ... : -,, -
.. _ .... ...
._.... . k1,•
..'%A;.•\• 1...'...''4,,,.'..V.,,,t.5j.e/'-. .„.-e'.,J4 I, •
11 I
t. ,' 1"1;4'. - • -
: •,
,i , J ",,_.•#.-'_•,..,.9,,i,,”,1:.1.-7---,.,..-..-'"-,
0
;,00
'
•
_ .
. -_......,\ ic 11: ' . ... ,. ,.-"
, ,. , .0 vt 54 t -' • -
atie.,,..• 'a
i' .4'te, , ' . .r "-It A • -ti-;
iL .
- -'
, . - •or.• .
ft--.i• - ,,' 1
•. ,-. ..,,
--
'
_ 1 : •
. , ..„, .. , . . ..._
InillagaiiMMW "
.., •-•"- ,,
A
•-.,
,.
1 a
t,.. ' • • wor., .
• -' :40r,,,, :14'.. :t 1441/',. , ' ' - ''• .
,.
. t
. ,iiill.
.....>.
4 --tr.,, ‘,. .. A;". - ' ',7-,,'.• -;,-, ...' - . ...,100miii, - • 1 0 , "' ,..,',.. „•,,,,. .),P,;_-_-...---
--.. .---
• .
•.
. .
. .:;!•,.-•.:,.-.
P _ - 1
'. .1,,,,,,,,:::„.,., ,,:
.,. ........: , • ,...-411: ,,,,._7,,; ., , ::.... -
. r ,f ^_ - mow.. :
.e
:
,.
. , .. '".',',.A.., ,*; , 'l .*:-4,:'.....1 4f, '.'".,....'s'1474.,.„
'' ' -• .d ri7 i'. : '.- j:';-':': ' ;:1 1'v' '''4: '' ' ' '''''9 ) I ''' .'‘'f' '...._.'''''' , ' .
, , \ „ ) . ..„„..._,
.,... _
, .„
.. „.„ .... .\ , .4 . .,.., . .
. .,N..,_7,.. .-:' '- • • .i,— • •' - .C. ,-' • ' . \ • --.
•
1; - ^ om• _ IT EE �H.�.. �s'i kP
s
Architectural Drawings
I 11 I I
I I I I I I I I I I I
1 A 1s
1 1 1, 1 1
® _
II I I • A I Levi, .
-.. 7111j1 Wu
Ldi i I .01''' , Orit ''''
( LET:
`Am
Al_ •■ I •■B r .11.• �•r III 111 ..�`",. `-�i�■ ��4� r• �iMi
■ n ■r n i � m m
a i i` ii_: i _ Hi iii Y 4,u
SLAT 1t ..., i 1 11' 1 1'__ f+MM �" I
jIi f �.�, , ■I■Ic- ,,a ---
�I e LI ! 1 - 1)f 'eJll ilii "
�-�-y�,PI - I el__,
t1�7� Ln d .�,1 Th---: —1----- _LS_
v.
1 I I 4I
1 1 I I 1 I 1 1 I
I I I
1920 PANTAGES THEATRE 144 SOUTH MAIN STREET 2020 UTAH THEATER 144 MAIN STREET
Illi...__ . •,, ' - -
, 1 949 IIIIIM.. .9.0 F IT . 0 ; 001,4, -__Illiii
t 1 !:e, Lil1 .2. �f.'oT Sr e 1
.... � /. ii ,,� ■o1 1r 0 .'r-ec•m V
I
.1-.7.-......1„:„..-......\ 1-... L rr.,- .r..k„._„. 1mpsa'Im L int m.it mala.-::-.= Islyem L
2 le I,-!..1.1.10.....,:IFx:sel.m.t.tl, t_ - ..
•
I. _ E`r��.e 9
--
. \I
_
ill
) , , 1 1.....1
! 1„....L.,:—.1.j IF . :
[I ..... .......
illsa ...1::6-.7 w ns'Ins L' i`a Lr Asad= 1m smilte ti ilium ie.imi...r- is mp.'1l- ..
•
-z ,..,...... — _ i.4,4 senc 7-00- 1W
' u:•u�:_ 't� •. .. �� -• ,�i„a q' ...•��• . .. s•�-
"1:2 ill,t' 1 i r ei r • �! .= vim_ " -
II -. _ ._. . ILii111-
�. 111µu 11 i• tl ��.�� �� . .i �' .. .. 111 1.1 111 �:,
111LL,saw :� •; .
-r,a all-—.:_;:..-= Ia s'la ti in a it Marl.;.-= Imir s'1est ti imam it mL`�-- i•mt lee L —=.
Photographs
yr
!
•'- II 't;'' ' '••• ; • t , ;- '::' \ .
•
.
•
,.. • •
'lp--'
t,.=.
•.•
.
..''..:- ,.....,•".. ...,,,,,'' - , fOL,.. „, ,.....„.'
'4r- „,
, VW
..
' '....:f.- ''''
I i- '
I
2.-.; ,,
, . '
-
•. _,-
-5,-
-
..4, •;,•• ,..1 _._
. ,
•.., —• •-• ' _a t .
.; ' .• ..
lihijIIIIIIS-' ' -
, .....•.C411-14 . larritz:L_.1, ii..;., , i i , „
114
..--.. .
' g u 1 W. '. :1 .4. 11`:',,#4.4 4'.. 4 ' .414 —0111‘...0 '• - ' '' ii , .. _ i
•
' '1 . •.‘ .a.,• i, • -_
S.,.'''-• .
• ' •• -.‘• ''••••-.::
” 1 i —'', -,a i'.4 , ' •i i
0 /
t0-0,a,,0
....,..-.„..7...„...-.:„..,..,.,_,,.i._-...
—
... _.-•
•
V' t
__...
. . ... . _ -440'. il .... . ...._ ...„,......------ .
. i. .4. ,.....::„.
4, '4' r• bk....
i,,-r .' ti ii' .
- .\ •
:I 4 •
plipaa image-Grool wan star Illelolical SO....
. , .
.177,7.-„,...., ii
_,, _ -oei,'•, '• •" •-••:L .•-,y;:,57' .!..-',... • , ,.
_, ; ' .s.,-'.', (1,-;t4t: -, 1 r I i
114...1• 0 •' • .;
}
OVERALL UPPER LEVEL HALLWAY PANTAGES THEATRE AUDITORIUM OVERALL LOBBY VIEW
OVERALL VIEW
I . ti!:44 'ca.
HALLWAY CEILING DETAIL BALCONY OVER SEATII+I FOYER RAMP
a� r .. yy __`
el •Isi MIIIMMo Ac . ...
1 11 ■■ f
I
iiiiiAEL
1 LAI .—
LOBBY WALL PANEL LOBBY VIEW 2020 THEATER EXTERIOR
;TO
111
FOYER CEILING CORNER PANTAGES THEATER EMBLEM VIEW OF BACKSTAGE
. lifi, 1.,,
1,,i
•
iyy- w- _. ,-v,":
ri r ` jff/
•
a (O �, --
,,..,$ \
it_
4
i
N... f
I
�i
j I,
;� . „
i U .•
https://pta.lib.utah.edu/
December & March RAC Minutes
Final Audit Report 2021-04-07
Created: 2021-04-07
By: Robyn Stine(robyn.stine@slcgov.com)
Status: Signed
Transaction ID: CBJCHBCAABAA42mMjS4LB_sDay3RlQjtb_ycMmHmFPos
"December & March RAC Minutes" History
Document created by Robyn Stine (robyn.stine@slcgov.com)
2021-04-07-10:52:22 PM GMT-IP address:204.124.13.222
Document emailed to Brian Doughty (brian.doughty@me.com) for signature
2021-04-07-10:52:56 PM GMT
• Email viewed by Brian Doughty (brian.doughty@me.com)
2021-04-07-11:04:10 PM GMT-IP address:65.130.40.231
Document e-signed by Brian Doughty (brian.doughty@me.com)
Signature Date:2021-04-07-11:04:57 PM GMT-Time Source:server-IP address:65.130.40.231
® Agreement completed.
2021-04-07-11:04:57 PM GMT
.;":4 Adobe Stgn