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10/04/2023 - Meeting Minutes MINUTES OF THE REDEVELOPMENT ADVISORY COMMITTEE October 4, 2023 The following Members were present: Mojdeh Sakaki, Baxter Reecer, Rosa Bandeirinha, Mark Isaac, Brian Doughty, Amy Rowland The following Members were absent: Nic Peterson Present Agency Staff: Danny Walz— Director, Austin Taylor- Project Manager, Eric Holmes - RDA Data Manager, Robyn Stine - Office Manager Present City Staff: Erik Fronberg— Management Analyst, Allison Parks—Senior City Attorney Present Guests: None Business: 1. Announcements by the Staff None 2. Approval of Minutes from September 6, 2023 Mark Isaac made a motion to approve the minutes from the September 6, 2023 meeting. Baxter Reecer seconded the motion. Upon roll call, the motion passed unanimously. 3. High Opportunity Areas: Proposed Map Update—Austin Taylor, Project Manager; Eric Holmes, Data Manager; and Erik Fronberg, Management Analyst Austin Taylor introduced Eric Holmes and Erik Fronberg and shared their assistance with creating the new High Opportunity Areas map. He explained the proposal to update the data set, ranking system, and eligibility map of High Opportunity Areas. He said in 2015, the Kem C. Gardner Policy Institute created the Opportunity Index, using a set of economic and housing related metrics to determine census tracts in Salt Lake City in which low-income households would have the greatest opportunity of improving their economic situation. In 2017, the RDA Board (Board), using the Opportunity Index, set aside $4.5 million to finance affordable housing development within High Opportunity Areas. Since then, only one application was approved. Mr. Taylor said the goals for the High Opportunity Area Proposal include incentivizing affordable housing development, increasing economic mobility, fostering mixed-income neighborhoods, avoiding concentrated poverty, and compensating for the lack of federal support. The current map covers parts of the city with indicators showing its high level of opportunity, but there are challenges like small parcel sizes, limited multifamily zoning, and exclusion from federal support. To address this, an updated map was proposed. Eric Holmes explained that the proposed new map was created by using a model developed by the University of Utah team, and considered additional metrics such as proximity to services, health information, and community services. Mr. Holmes presented the changes in metrics and explained the inclusion of tracks surrounded by high-opportunity areas. The new map expands the eligible land for multifamily development, adding tracts in The Avenues, Central City, East Central, East Liberty, Liberty Wells, and Sugar House. Mr. Taylor said the new map is what staff will be taking before the Board and would value feedback from the committee Members. Discussion: • A committee member informed the group that Utah Housing Corporation is using a county- wide map to provide 10-30% basis boosts for LIHTC-funded projects in high opportunity areas within Salt Lake County. • Recommended to counter federal bias with better City benefit. • Staff added the map is for Agency use to concentrate efforts on spreading affordable housing throughout the City and not just in neighborhoods with a current concentration of affordable housing such as Central City, Downtown, Ballpark, and Fairpark. • It was requested the maps be forwarded to the committee Members. 4. Adjournment There being no further business the meeting was adjourned. b'W& BaT41PW7 kW1 1,202409:44 HST) Baxter Reecer, Vice-Chairpers(gWxter Reecer This document along with the digital recording constitute the official minutes of the Redevelopment Advisory Committee held October 4, 2023. 2023-10-04 RAC Minutes FINAL Final Audit Report 2024-04-01 Created: 2024-04-01 By: Robyn Stine(robyn.stine@slcgov.com) Status: Signed Transaction ID: CBJCHBCAABAAB1xM8GTmjCyslQdrxUYyauzlsRKgwYvW "2023-10-04 RAC Minutes FINAL" History Document created by Robyn Stine (robyn.stine@slcgov.com) 2024-04-01 -7:18:04 PM GMT Document emailed to Baxter Reecer(baxterreecer@gmail.com) for signature 2024-04-01 -7:18:51 PM GMT Email viewed by Baxter Reecer(baxterreecer@gmail.com) 2024-04-01 -7:42:50 PM GMT it Document e-signed by Baxter Reecer(baxterreecer@gmail.com) Signature Date:2024-04-01 -7:44:05 PM GMT-Time Source:server ® Agreement completed. 2024-04-01 -7:44:05 PM GMT Powered by Adobe '_ Acrobat Sign