R-029-2018 - Sales Price of RDA-owned property located at 912 and 916 Jefferson Street in the West Temple GatewayR 18-2
REDEVELOPMENT AGENCY OF SALT LAKE CITY
R-29-2018
RESOLUTION NO.
912 and 916 Jefferson Street
RESOLUTION OF THE BOARD OF DIRECTORS OF THE REDEVELOPMENT AGENCY
OF SALT LAKE CITY APPROVING THE SALES PRICE OF RDA -OWNED PROPERTY
LOCATED AT 912 AND 916 JEFFERSON STREET IN THE WEST TEMPLE GATEWAY
PROJECT AREA.
WHEREAS, the Redevelopment Agency of Salt Lake City ("RDA") desires to dispose of
real property located at 912 and 916 Jefferson Street (the "Property") for the purpose of
redeveloping it in a manner consistent with the RDA's West Temple Gateway Project Area Plan.
WHEREAS, the Central Ninth Development Partners, L.L.C. ("Central Ninth") intends
to acquire the Property to construct (1) affordable and workforce housing, and (2) a small-scale,
mixed -use development that implements the RDA's vision for the Central 9th neighborhood and
will bring new jobs to the area ("Project").
WHEREAS, the value of the Property is $385,000.
WHEREAS, Central Ninth requests a complete write -down of the Property value in order
to develop the Project
NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE
REDEVELOPMENT AGENCY OF SALT LAKE CITY that the Board hereby authorizes the
a complete write -down of the Property value and authorizes the disposition of the Property to
Central Ninth for $00.00 so long as Central Ninth develops the Project pursuant to the terms of an
agreement with the RDA, as recommended by the City Attorney' • ffice.
IPassed by the Board of Directors of the Rede �� �pment :ency of Salt Lake City, this
day of August, 2018.
Dere ' itched airman
Approved as to form: ri''v'
Salt Lake City Attorney's Office
Katherine N. Lewis
Date: Djjg'
Transmitted to the Executive Director on August 22, 2018.
The Executive Director:
,'does not request reconsideration
requests reconsideration at the next regular % g: cy meeting.
, cqueline M. Biskupsrki, Exxe i tive irector
�oi�OP M ENT,q "' �
HB ATTY-#72092-v1-RDA Resolution C9 Partners Write Down.docx