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Council Provided Information - 6/14/2022Board Changes FUND FY2022 Adopted Budget Full Time Equivalent Changes from FY2022 Budget FY2023 Recommended Budget FY2023 Recommended Budget Central Business District Revenue and Other Sources Tax Increment 27,573,150 - 27,573,150 - Interest Income 350,000 (326,500) 23,500 Total Revenues and Other Sources Budget 27,923,150 (326,500) 27,596,650 - Expenses and Other Uses Taxing Entity Payment (60%) 13,436,150 (152,499) 13,283,651 Eccles Debt Service 3,107,740 3,260,239 Eccles Debt Service Block 70 RDA Match 3,107,740 152,499 3,260,239 Transfer to Administration (10%) 2,757,315 - 2,757,315 Miscellaneous Property Expense 975,000 25,000 1,000,000 TI Reimbursements (Jazz Arena, 222 Main) 1,477,398 (77,398) 1,400,000 Gallivan Maintenance 523,138 43,684 566,822 Gallivan Programming 250,000 - 250,000 Gallivan Administration 340,482 24,841 365,323 Eccles Debt Service Reserve 1,800,000 (1,800,000) - Parking Ramp Leases 64,355 4,645 69,000 Capital Reserves - Japantown -{Holding Account}-- 250,000 250,000 Capital Reserves - Main Street Closure Study and Design - 300,000 300,000 (150,000) Open Streets Intiative on Main Street 150,000 Capital Reserves - Gallivan Master Planning - 100,000 100,000 Capital Reserves - Property Acquisition -{Holding Account}-- 734,061 734,061 Capital Reserves - Commercial Loan Program -{Holding Account}-83,832 (83,832) - Total Expenditures and Other Uses Budget 27,923,150 (478,999) 27,596,650 - Budgeted revenues and other sources over (under) expenditures and other uses - - West Capitol Hill Revenue and Other Sources Interest Income 150,000 (50,000) 100,000 Total Revenues and Other Sources Budget 150,000 (50,000) 100,000 - REDEVELOPMENT AGENCY KEY CHANGES Board Changes FUND FY2022 Adopted Budget Full Time Equivalent Changes from FY2022 Budget FY2023 Recommended Budget FY2023 Recommended Budget REDEVELOPMENT AGENCY KEY CHANGES Expenses and Other Uses Transfer to Administration 150,000 (150,000) - Capital Reserves - West Capital Hill Project Cost Overrun - 100,000 100,000 Total Expenditures and Other Uses Budget 150,000 (50,000) 100,000 - Budgeted revenues and other sources over (under) expenditures and other uses - - West Temple Gateway Revenue and Other Sources Interest Income 50,000 (45,000) 5,000 Total Revenues and Other Sources Budget 50,000 (45,000) 5,000 - Expenses and Other Uses Transfer to Administration 50,000 (45,000) 5,000 Total Expenditures and Other Uses Budget 50,000 (45,000) 5,000 - Budgeted revenues and other sources over (under) expenditures and other uses - - Depot District Revenue and Other Sources Tax Increment 3,921,164 78,423 3,999,587 Interest Income 200,000 (150,000) 50,000 Total Revenues and Other Sources Budget 4,121,164 (71,577) 4,049,587 - Expenses and Other Uses TI Reimbursement Gateway 1,820,977 179,023 2,000,000 Primary Housing Fund (20%) 784,233 15,684 799,917 Revolving Loan Fund Repayment - 524,732 524,732 Capital Reserves - Station Center Infrastructure -{Holding Account}-332,179 (332,179) - Transfer to Administration (15%) 588,175 11,763 599,938 Grant Tower Debt Service 275,600 (275,600) - Miscellaneous Property Expense 120,000 5,000 125,000 Board Changes FUND FY2022 Adopted Budget Full Time Equivalent Changes from FY2022 Budget FY2023 Recommended Budget FY2023 Recommended Budget REDEVELOPMENT AGENCY KEY CHANGES Capital Reserves - Environmental Remediation Sites 3 & 4 -{Holding Account}-200,000 (200,000) - Total Expenditures and Other Uses Budget 4,121,164 (71,577) 4,049,587 - Budgeted revenues and other sources over (under) expenditures and other uses - - Granary District Revenue and Other Sources Tax Increment 621,124 12,422 633,546 Interest Income 45,000 (30,000) 15,000 Total Revenues and Other Sources Budget 666,124 (17,578) 648,546 - Expenses and Other Uses Capital Reserves - Strategic Intervention -{Holding Account}-- 421,805 421,805 Capital Reserves - Community/Cutural Initiative -{Holding Account}-443,731 (443,731) - Primary Housing Fund (20%) 124,225 2,484 126,709 Transfer to Administration (15%) 93,168 1,864 95,032 Miscellaneous Property Expense 5,000 - 5,000 Total Expenditures and Other Uses Budget 666,124 (17,578) 648,546 - Budgeted revenues and other sources over (under) expenditures and other uses - - North Temple Revenue and Other Sources Tax Increment 435,346 8,707 444,053 Transfer In from Primary Housing Fund 1,000,000 (1,000,000) - Transfer in from Fund 81 1,000,000 (1,000,000) - Transfer in from General Fund 669,138 (669,138) - Transfer In from PIF 255,215 (255,215) - Use of Fund Balance (Catalytic Project Holding Acct) 788,037 - Interest Income 15,000 (10,000) 5,000 (788,037) Board Changes FUND FY2022 Adopted Budget Full Time Equivalent Changes from FY2022 Budget FY2023 Recommended Budget FY2023 Recommended Budget REDEVELOPMENT AGENCY KEY CHANGES Total Revenues and Other Sources Budget 4,162,736 (2,925,646) 449,053 - Expenses and Other Uses Capital Reserves - Folsom Corridor Prop Acq & Remediation -{Holding Account}-- 284,753 284,753 Primary Housing Fund (20%) 87,069 1,742 88,811 Capital Reserves - School Construction Fund (10%)* -{Holding Account}-30,474 31,084 Capital Reserves - Strategic Intervention Fund -{Holding Account}-4,001,658 (4,001,658) - Transfer to Administration (10%) 43,535 870 44,405 Total Expenditures and Other Uses Budget 4,162,736 (3,714,293) 449,053 - Budgeted revenues and other sources over (under) expenditures and other uses - - Block 70 Revenue and Other Sources Transfer From CBD Taxing Entity Payments 4,109,200 (848,961) 3,260,239 - Transfer From CBD Eccles Debt Service RDA match 3,107,740 152,499 3,260,239 - Transfer from CBD Eccles Debt Service Reserve Account 1,800,000 (1,800,000) - - Tax Increment 1,922,323 - 1,922,323 - Reserves for Eccles Debt - 2,469,853 Interest Income - 2,500 2,500 Total Revenues and Other Sources Budget 10,939,263 (2,493,962) 10,915,154 - Expenses and Other Uses Eccles Theater Debt Service 8,068,209 1,320 8,069,529 Reserve for Eccles Debt Service 90,617 (90,617) - Regent Street Bond Debt Service 1,448,740 40,188 1,488,928 Taxing Entity Payments (30%) 576,697 - 576,697 Fundraising Fulfillment 100,000 25,000 125,000 Eccles Theater- Operating Reserve for Ancillary Spaces 475,000 - 475,000 610 2,469,853 Board Changes FUND FY2022 Adopted Budget Full Time Equivalent Changes from FY2022 Budget FY2023 Recommended Budget FY2023 Recommended Budget REDEVELOPMENT AGENCY KEY CHANGES Capital Reserves - Regent Street Parking Structure -{Holding Account}-100,000 - 100,000 Regent Street Maintenance 80,000 - 80,000 Total Expenditures and Other Uses Budget 10,939,263 10,915,154 - Budgeted revenues and other sources over (under) expenditures and other uses - - North Temple Viaduct Revenue and Other Sources Tax Increment 1,181,479 23,630 1,205,109 Interest Income 7,500 (6,000) 1,500 Total Revenues and Other Sources Budget 1,188,979 17,630 1,206,609 - Expenses and Other Uses Debt Service Payment to Salt Lake City 1,171,257 17,275 1,188,532 Transfer to Admin (1.5%) 17,722 355 18,077 Total Expenditures and Other Uses Budget 1,188,979 17,630 1,206,609 - Budgeted revenues and other sources over (under) expenditures and other uses - - Northwest Quadrant Revenue and Other Sources Tax Increment 1,500,000 (596,900) 903,100 Interest Income - 5,000 5,000 Total Revenues and Other Sources Budget 1,500,000 (591,900) 908,100 - Expenses and Other Uses TI Reimbursement NWQ Phase I 500,000 632,170 Transfer to Secondary Housing 350,000 (350,000) - (24,109) 132,170 Board Changes FUND FY2022 Adopted Budget Full Time Equivalent Changes from FY2022 Budget FY2023 Recommended Budget FY2023 Recommended Budget REDEVELOPMENT AGENCY KEY CHANGES Capital Reserves - Shared Costs -{Holding Account}-350,000 (254,690) 95,310 Transfer to Primary Housing (10%) 150,000 (59,690) 90,310 Transfer to Admin (10%) 150,000 (59,690) 90,310 Total Expenditures and Other Uses Budget 1,500,000 (724,070) 908,100 - Budgeted revenues and other sources over (under) expenditures and other uses - - Stadler Rail Revenue and Other Sources Tax Increment 71,000 1,420 72,420 - Interest Income - 500 500 Total Revenues and Other Sources Budget 71,000 1,920 72,920 - Expenses and Other Uses TI Reimbursement 56,800 1,636 58,436 Transfer to Primary Housing (10%) 7,100 142 7,242 - Transfer to Admin (10%) 7,100 142 7,242 - Total Expenditures and Other Uses Budget 71,000 1,920 72,920 - Budgeted revenues and other sources over (under) expenditures and other uses - - State Street Revenue and Other Sources Tax Increment - 2,631,183 2,631,183 Interest Income - - - Total Revenues and Other Sources Budget - 2,631,183 2,631,183 - Expenses and Other Uses Capital Reserves - Property Acquisition -{Holding Account}-- 2,104,947 2,104,947 Transfer to Primary Housing (10%) - 263,118 263,118 Transfer to Admin (10%) - 263,118 263,118 Board Changes FUND FY2022 Adopted Budget Full Time Equivalent Changes from FY2022 Budget FY2023 Recommended Budget FY2023 Recommended Budget REDEVELOPMENT AGENCY KEY CHANGES Total Expenditures and Other Uses Budget - 2,631,183 2,631,183 - Budgeted revenues and other sources over (under) expenditures and other uses - - 9 Line Revenue and Other Sources Tax Increment - 1,477,727 1,477,727 Interest Income - - - Total Revenues and Other Sources Budget - 1,477,727 1,477,727 - Expenses and Other Uses Taxing Entity Payment - 224,966 224,966 County Administration - 26,996 26,996 Transfer to Primary Housing (10%) - 147,773 147,773 Transfer to Admin (10%) - 118,218 118,218 Capital Reserves - Property Acquisition -{Holding Account}-- 959,774 959,774 Total Expenditures and Other Uses Budget - 1,477,727 1,477,727 - Budgeted revenues and other sources over (under) expenditures and other uses - - Revolving Loan Fund Revenue and Other Sources FY17 Beginning Balance Interest on Investment 470,000 (220,000) 250,000 Principal Payments 55,000 10,000 65,000 Interest on Loans 25,000 5,000 30,000 Total Revenues and Other Sources Budget 550,000 (205,000) 345,000 - Expenses and Other Uses Available to Lend 550,000 (205,000) 345,000 Total Expenditures and Other Uses Budget 550,000 (205,000) 345,000 - Board Changes FUND FY2022 Adopted Budget Full Time Equivalent Changes from FY2022 Budget FY2023 Recommended Budget FY2023 Recommended Budget REDEVELOPMENT AGENCY KEY CHANGES Budgeted revenues and other sources over (under) expenditures and other uses - - Program Income Fund Revenue and Other Sources Parking Structure Income 1,242,335 1,000 1,243,335 Rents 215,700 - 215,700 Use of Fund Balance 255,215 (255,215) - Interest Income 250,000 (200,000) 50,000 Loan Repayments 28,000 11,000 39,000 Interest on Loans 6,500 2,300 8,800 Total Revenues and Other Sources Budget 1,997,750 (440,915) 1,556,835 - Expenses and Other Uses Capital Reserves - Commercial Loan Program -{Holding Account}-667,535 264,300 931,835 Professional Services 300,000 - 300,000 Miscellaneous Property Expense 300,000 - 300,000 Transfer to NT 255,215 (255,215) - Capital Reserves - Sustainability Technical Assistance Program -{Holding Account}-200,000 (200,000) - Marketing and Sales 25,000 - 25,000 Capital Reserves - Gallivan Repairs -{Holding Account}-250,000 (250,000) - Total Expenditures and Other Uses Budget 1,997,750 (440,915) 1,556,835 - Budgeted revenues and other sources over (under) expenditures and other uses - - Secondary Housing Fund (formerly Project Area Housing Fund) Revenue and Other Sources Interest Income 44,000 (34,000) 10,000 Transfer from NWQ 350,000 (350,000) - - Total Revenues and Other Sources Budget 394,000 (384,000) 10,000 - Board Changes FUND FY2022 Adopted Budget Full Time Equivalent Changes from FY2022 Budget FY2023 Recommended Budget FY2023 Recommended Budget REDEVELOPMENT AGENCY KEY CHANGES Expenses and Other Uses Capital Reserves - Accessory Dwelling Unit 9-Line Pilot Program -{Holding Account}-394,000 (384,000) 10,000 Total Expenditures and Other Uses Budget 394,000 - 10,000 - Budgeted revenues and other sources over (under) expenditures and other uses - - Primary Housing Fund (formerly Citywide Housing Fund) Revenue and Other Sources Transfer from Depot 784,233 15,684 799,917 - Transfer from State street - 263,118 263,118 - Transfer from 9 Line - 147,773 147,773 - Interest Income 225,000 (175,000) 50,000 Transfer from NWQ 150,000 (59,690) 90,310 Transfer from Granary 124,225 2,484 126,709 Loan Repayments 51,000 (28,000) 23,000 Interest on Loans 70,000 (67,000) 3,000 Transfer from Stadler Rail 7,100 142 7,242 Transfer from North Temple 87,069 1,742 88,811 Total Revenues and Other Sources Budget 1,498,627 101,253 1,599,880 - Expenses and Other Uses Capital Reserves - Property Acquistion -{Holding Account}-498,627 1,101,253 1,599,880 Transfer Out to NT 1,000,000 (1,000,000) - Total Expenditures and Other Uses Budget 1,498,627 101,253 1,599,880 - Budgeted revenues and other sources over (under) expenditures and other uses - - Westside Community Initiative (NWQ Housing) Revenue and Other Sources UIPA Housing Allocation 250,000 250,000 500,000 Total Revenues and Other Sources Budget 250,000 250,000 500,000 - Board Changes FUND FY2022 Adopted Budget Full Time Equivalent Changes from FY2022 Budget FY2023 Recommended Budget FY2023 Recommended Budget REDEVELOPMENT AGENCY KEY CHANGES Expenses and Other Uses Capital Reserves - Housing Development Loan Program -{Holding Account}-250,000 250,000 500,000 Total Expenditures and Other Uses Budget 250,000 250,000 500,000 - Budgeted revenues and other sources over (under) expenditures and other uses - - Housing Development Fund Revenue and Other Sources Funding Our Future Land Discounts and Financing 2,590,000 - 2,590,000 Mayor's request for additional affordable housing - 1,000,000 1,000,000 Interest on Investment - 15,000 15,000 Loan Repayments - 1,370,000 1,370,000 Interest on Loans - 255,000 255,000 Total Revenues and Other Sources Budget 2,590,000 2,640,000 5,230,000 - Expenses and Other Uses Housing Development Loan Program NOFA 2,590,000 1,640,000 4,230,000 Affordable Housing Acquisition Program -{Holding Account}-- 1,000,000 Total Expenditures and Other Uses Budget 2,590,000 1,640,000 5,230,000 - Budgeted revenues and other sources over (under) expenditures and other uses - - Administration Revenue and Other Sources Transfer from Central Business District 2,757,315 - 2,757,315 - Transfer from Depot District 588,175 11,763 599,938 - Transfer from West Capitol Hill 150,000 (150,000) - - Transfer from Granary District 93,168 1,864 95,032 - Transfer from West Temple Gateway 50,000 (45,000) 5,000 - Transfer from North Temple 43,535 870 44,405 - 1,000,000 Board Changes FUND FY2022 Adopted Budget Full Time Equivalent Changes from FY2022 Budget FY2023 Recommended Budget FY2023 Recommended Budget REDEVELOPMENT AGENCY KEY CHANGES Transfer from State Street - 263,118 263,118 - Transfer from 9 Line - 118,218 118,218 - Transfer from North Temple Viaduct 17,722 355 18,077 - Transfer from Northwest Quadrant 150,000 (59,690) 90,310 - Transfer from Stadler Rail 7,100 142 7,242 - Total Revenues and Other Sources Budget 3,857,015 141,640 3,998,655 - Expenses and Other Uses RDA Personnel 2,254,632 19 225,463 2,480,095 Administrative Fees 939,683 60,317 1,000,000 Operating & Maintenance 360,000 (60,000) 300,000 Charges and Services 202,700 15,860 218,560 Furniture, Fixtures and Equipment 100,000 (100,000) - Total Expenditures and Other Uses Budget 3,857,015 19 141,640 3,998,655 - Budgeted revenues and other sources over (under) expenditures and other uses - - TOTAL Revenue 61,909,808 63,300,899 - TOTAL Expense 61,909,808 63,300,899 - GRAND TOTALS