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HomeMy WebLinkAboutG 20210026 - 1 of 2021; Related to 1 of 2020; Deferral of City & RDA Loan paymentsSALT LAKE CITY EMERGENCY PROCLAMATION No. 1 of 2021 MAYOR'S EXERCISE OF EMERGENCY POWERS RELATED TO SALT LAKE CITY EMERGENCY PROCLAMATION NO. 1 OF 2020 On March 10, 2020, pursuant to her authority under Utah Code Sections 53-2a-208(1)(a) and 53- 2a-209(1) and Salt Lake City Code Chapter 22.03, the Mayor of Salt Lake City declared a local emergency due to the global outbreak of COVID-19. Under City Code Section 22.03.030, while the proclamation of local emergency is in effect, the Mayor of Salt Lake City may exercise certain emergency powers by proclamation. Between March 12, 2020 and June 11, 2020, the Mayor of Salt Lake City exercised emergency powers pursuant to Proclamation Numbers 2, 4, 5, 6, 7, 8, 11, and 17 to address the local emergency related to the spread of COVID-19 in Salt Lake City. Salt Lake City Emergency Proclamation Number 3 of 2020 addressed a local emergency related to the 5.7 magnitude earthquake that occurred in Salt Lake City on March 18, 2020. Salt Lake City Emergency Proclamations 9 and 10 addressed a local emergency related to civil disturbance that occurred in Salt Lake City on May 30, 2020. Salt Lake City Emergency Proclamation Numbers 15 and 16 addressed a local emergency related to a windstorm that occurred in Salt Lake City on September 8, 2020. Salt Lake City Emergency Proclamation Numbers 12, 13, and 14 repealed sections of previous emergency proclamations. The City and the Redevelopment Agency of Salt Lake City (the “RDA”) are each a lender on outstanding loans to City residents and businesses. To support the City’s and RDA’s borrowers during the economic hardships caused by COVID-19, the City and RDA have provided deferral of loan payments, and the Mayor of Salt Lake City now desires to exercise her emergency powers to enact this Proclamation Number 1: 1. Term. This Proclamation shall take effect on that date it is signed and will be ongoing for as long as Proclamation No. 1 of 2020 is in effect unless this Proclamation is amended or rescinded by the Mayor. 2. Loan Deferment. Pursuant to the respective loan policies, the City and RDA have administratively deferred payments on eligible loans made prior to the date of Proclamation No. 1 of 2020. The respective loan policies allow for administrative deferrals for up to one year, and longer deferrals require additional approval. Under this Proclamation, the loan deferments may continue beyond one year without additional approval until 90 days following the expiration of this Emergency Proclamation unless a longer deferment is required under applicable law. Interest does not accrue during the deferral period. Deferred payments will be added to the end of each loan and the loan maturity date shall be extended to match the deferral period. 3. Filing and Dissemination. This proclamation will be filed with the Salt Lake City Recorder and will be delivered to the State of Utah and Salt Lake County and will be disseminated to local media. Dated this day of , 2021. ______________________ Erin Mendenhall Mayor Approved as to Form: Attest: ____________________________ ____________________________ Katherine Lewis Cindy Lou Trishman Salt Lake City Attorney City Recorder Katherine Lewis (Mar 4, 2021 17:22 MST) Erin Mendenhall (Mar 4, 2021 17:25 MST) Cindy Trishman (Mar 4, 2021 17:30 MST) March4