Proposed Resolution - 1/10/20231
REDEVELOPMENT AGENCY OF SALT LAKE CITY
RESOLUTION NO. of 2023
Interlocal Agreement Authorizing Use of a Portion of Tax Increment to Support the
Implementation of the State Street Community Reinvestment Area Plan
RESOLUTION OF THE BOARD OF DIRECTORS OF THE REDEVELOPMENT AGENCY
OF SALT LAKE CITY AUTHORIZING THE EXECUTION OF AN INTERLOCAL
AGREEMENT AUTHORIZING USE OF A PORTION OF TAX INCREMENT TO SUPPORT
THE IMPLEMENTATION OF THE STATE STREET COMMUNITY REINVESTMENT
AREA PLAN
WHEREAS, pursuant to Chapter 5, Community Reinvestment, of Title 17C of the Utah
Code (the “Act”), the Redevelopment Agency of Salt Lake City (“Agency”) may approve a
community reinvestment project area plan for the purpose of supporting community revitalization
within a designated project area.
WHEREAS, the Board of Directors of the Agency approved the State Street Community
Reinvestment Project Area (“Project Area”) to facilitate the capture of tax increment within the
boundaries of the Project Area which is further depicted in Exhibit A.
WHEREAS, tax increment will be used to support commercial corridors and employment
hubs to support living-wage jobs; attract and expand neighborhood retail and services; provide an
array of housing choices to meet the needs of current residents while attracting new residents
including new families; and increase neighborhood livability and safety.
WHEREAS, Salt Lake County (the “County”) has approved the use of its tax increment
from the Project Area to support the community revitalization activities in accordance with the
Act, and doing so will require authorization of an interlocal agreement between the County and
the Agency.
WHEREAS, the parties desire to execute the interlocal agreement in which the County
consents to the Agency being paid its share of the tax increment from the Project Area and will
detail the Agency’s collection period for the tax increment. The interlocal agreement does not
create an interlocal entity and is effective on the day in which the RDA posts notice of the
execution of the interlocal agreement as required under the Act.
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NOW THEREFORE, BE IT RESOLVED by the Board of Directors of the Redevelopment
Agency of Salt Lake City:
1. It does hereby approve the execution and delivery of the following:
INTERLOCAL COOPERATION AGREEMENT BETWEEN SALT LAKE COUNTY
AND THE REDEVELOPMENT AGENCY OF SALT LAKE CITY [STATE STREET
COMMUNITY REINVESTMENT AREA TAX INCREMENT]
2. Erin Mendenhall, Executive Director of the Redevelopment Agency of Salt Lake City or
her designee, is hereby authorized to approve, execute, and deliver said agreement on behalf
of the Redevelopment Agency of Salt Lake City, in substantially the same form as now
before the Redevelopment Agency of Salt Lake City Board of Directors and attached hereto
as Exhibit B, subject to such minor changes that do not materially affect the rights and
obligations of the Redevelopment Agency thereunder and as shall be approved by the
Executive Director, her execution thereof to constitute conclusive evidence of such
approval.
Passed by the Board of Directors of the Redevelopment Agency of Salt Lake City, this
day of , 2023.
Board Chair
Transmitted to the Executive Director on .
The Executive Director:
does not request reconsideration
requests reconsideration at the next regular Agency meeting.
Erin Mendenhall, Executive Director
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Approved as to form:
Salt Lake City Attorney’s Office
_______________________________________
Attest:
City Recorder
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EXHIBIT A
[Attach Depiction of Project Area]
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EXHIBIT B
[Attach Interlocal Agreement]