Proposed Resolution - 2/24/20231
REDEVELOPMENT AGENCY OF SALT LAKE CITY
RESOLUTION NO__________
State Street Community Reinvestment Area Budget Amendment
RESOLUTION OF THE BOARD OF DIRECTORS OF THE REDEVELOPMENT AGENCY
OF SALT LAKE CITY AMENDING THE STATE STREET COMMUNITY REINVESTMENT
AREA BUDGET
WHEREAS, on August 21, 2018, the Redevelopment Agency of Salt Lake City Board of
Directors (“Board”) adopted the State Street Community Reinvestment Area (“State Street CRA”)
budget, effective at the beginning of the CRA’s funds collection period, in accordance with the
requirements of Section 17C-5-302 of the Utah Code.
WHEREAS, after the State Street CRA budget was adopted, Salt Lake City, Salt Lake
County, and Salt Lake City School District each negotiated and executed interlocal agreements
with the Redevelopment Agency of Salt Lake City (“RDA”) in accordance with the requirements
of Section 17-5-204 of the Utah Code, which allows the RDA to receive a portion of the taxing
entities’ tax increment within the project area for the term of the collection period.
WHEREAS, the State Street CRA budget must now be amended to reflect the same terms
in the executed interlocal agreements with Salt Lake City, Salt Lake County and Salt Lake City
School District.
WHEREAS, all conditions precedent to amend the CRA budget have been accomplished.
NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of the
Redevelopment Agency of Salt Lake City:
1. Purpose. The purpose of this Resolution is to amend the State Street CRA budget,
as approved by the RDA Board on August 21, 2018.
2. Adoption of Amended State Street CRA Budget. The amended State Street CRA
budget attached as Exhibit A is hereby adopted as the State Street CRA budget and shall be
incorporated into the State Street CRA project area plan.
3. Filing of copies of the Budget Amendments. The Salt Lake City Finance
Department, on behalf of the RDA, is authorized and directed to certify and file a copy of said
budget amendments in the office of the Finance Department, the RDA, and the office of the City
Recorder which amendments shall be available for public inspection. Pursuant to Section 17C-5-
305 of the Utah Code, the RDA shall cause a copy of the budget amendments to be filed with the
State Tax Commission, the State Board of Education, the state auditor, the Salt Lake County
Auditor, and the taxing entities party to the State Street CRA interlocal agreements.
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Passed by the Board of Directors of the Redevelopment Agency of Salt Lake City, Utah,
this ___ day of ______________, 2023, to be effective upon adoption.
________________________________
Alejandro Puy, Chair
Approved as to form: __________________________________
Salt Lake City Attorney’s Office
Allison Parks
Date:
The Executive Director:
____ does not request reconsideration.
____ requests reconsideration at the next regular Agency meeting.
_________________________________
Erin Mendenhall, Executive Director
Attest:
_________________________
City Recorder
January 26, 2023
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EXHIBIT A TO RESOLUTION
[Attach Budget Amendment]