Transmittal - 4/22/2022
REDEVELOPMENT AGENCY of SALT LAKE CITY
SALT LAKE CITY CORPORATION
451 SOUTH STATE STREET, ROOM 118 WWW.SLC.GOV · WWW.SLCRDA.COM
P.O. BOX 145518, SALT LAKE CITY, UTAH 84114-5518 TEL 801-535-7240 · FAX 801-535-7245
MAYOR ERIN MENDENHALL
Executive Director
DANNY WALZ
Director
REDEVELOPMENT AGENCY STAFF MEMO
DATE: April 22, 2022
PREPARED BY: Erin Cunningham
RE: Status Report on RDA Commercial Loan Portfolio
REQUESTED ACTION: Written Briefing
RECOMMENDATION: N/A
BUDGET IMPACTS: None
EXECUTIVE SUMMARY: Semiannually, the RDA provides an update to the Board on the status
of the RDA’s commercial loan portfolio. This report identifies the following:
• New loans approved between July 1, 2021 and March 31, 2022.
• Remaining amount in the existing portfolio
• Outstanding principal for each loan fund
• Any delinquencies
ANALYSIS & ISSUES:
The Commercial Loan Program is being revamped, resulting in zero new loans being approved.
New Loans Approved
July 1, 2021 - March 31, 2022 Fund Borrower Resolution Date Approved Amount
N/A
Total New Loans 0
Funds Available to Lend
Funds Available to Lend March 31, 2022
Revolving Loan Fund 5,837,577
Outstanding Loan Principal Balances
As of March 31, 2022 Fund Type Number of Loans Principal Balance Revolving Loan Fund 13 19,361,636
PREVIOUS BOARD ACTION: N/A
ATTACHMENTS: None