Proposed Resolution - 3/28/20231
REDEVELOPMENT AGENCY OF SALT LAKE CITY
RESOLUTION NO__________
Third Budget Amendment
RESOLUTION OF THE BOARD OF DIRECTORS OF THE REDEVELOPMENT AGENCY
OF SALT LAKE CITY AMENDING THE FINAL BUDGET OF THE RDA FOR FISCAL
YEAR 2022-2023
WHEREAS, on June 14, 2022, the Redevelopment Agency (“RDA”) Board of Directors
(“Board”) adopted the final budget of the RDA, effective for the fiscal year beginning July 1, 2022,
and ending June 30, 2023, in accordance with the requirements of Section 17C-1-601.5 of the Utah
Code.
WHEREAS, all conditions precedent to amend the RDA's final 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 final budget of the RDA, as
approved, ratified and finalized by the Board on June 14, 2022.
2. Adoption of Amendments. The budget amendments shown on Exhibit A as “Board
Approved” are hereby adopted and incorporated into the budget of the RDA.
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.
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:____________________________
March 23, 2023
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The Executive Director:
____ does not request reconsideration
____ requests reconsideration at the next regular Agency meeting.
_________________________________
Erin Mendenhall, Executive Director
Attest:
_________________________
City Recorder
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EXHIBIT A TO RESOLUTION
[Attach Board’s Final Approved Budget Amendment]
Initiative Number/Name Project Area Revenue Amount
Expenditure
Amount
Revenue
Amount
Expenditure
Amount
Ongoing or One-
time FTEs
1 Transfer from GF for Property Purchase 4,000,000.00 4,000,000.00 One-Time -
1 True Up Tax Increment CBD (1,543,843.00) (1,543,843.00) One-time -
1 True Up Tax Increment DD 1,570,677.00 1,545,409.00 One-time -
1 True Up Tax Increment GD 453,778.00 453,778.00 One-time -
1 True Up Tax Increment NTV 1,653,825.00 1,653,825.00 One-time -
1 True Up Tax Increment Block 70 3,706.00 3,706.00 One-time -
1 True Up Tax Increment SS 1,720,457.00 1,720,457.00 One-time -
1 True Up Tax Increment 9 Line 1,157,340.00 1,157,340.00 One-time -
1 True Up Tax Increment NT 551,772.00 551,772.00 One-time -
1 True Up Tax Increment SR 66,107.00 66,107.00 One-time -
1 True Up Tax Increment NWQ 547,161.00 547,161.00 One-time -
1 True Up Tax Increment Primary Housing 864,353.00 864,353.00 One-time -
1 True Up Tax Increment Admin 648,671.00 648,671.00 One-time -
2 Adjust Housing Trust Fund Loan HTF (172,000.00) (1,382,000.00) One-time -
2 Adjust Housing Trust Fund Loan HTF (1,210,000.00) One-time -
3
Revolving Loan Fund balance adjustment
RLF - 25,268.00 One-time -
-
Total of Budget Amendment Items 10,312,004.00 10,312,004.00 - -
Total by Fund, Budget Amendment #2:
Redevelopment Agency RDA 10,312,004.00 10,312,004.00 - - -
Redevelopment Agency - CP RDA -CIP - - - -
Total of Budget Amendment Items 10,312,004.00 10,312,004.00 - - -
Fiscal Year 2022-23 RDA Budget Amendment #3
Section G: Board Consent Agenda -- Grant Awards
Section I: Board Added Items
Section A: New Items
Section B: Grants for Existing Staff Resources
Section C: Grants for New Staff Resources
Section D: Housekeeping
Section E: Grants Requiring No New Staff Resources
Section F: Donations
Board ApprovedAdministration Proposed
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Initiative Number/Name Project Area Revenue Amount
Expenditure
Amount
Revenue
Amount
Expenditure
Amount
Ongoing or One-
time FTEs
Fiscal Year 2022-23 RDA Budget Amendment #3
Board ApprovedAdministration Proposed
Current Year Budget Summary, provided for information only
FY 2022-23 Budget, Including Budget Amendments
FY 2022-23
Adopted Budget RDA BA #1Total RDA BA #2 Total RDA BA#3 Total To-Date
Redevelopment Agency 50,172,718 - 3,266,805.00 10,312,004.00 63,751,527
Redevelopment Agency CIP 13,128,181 - (3,220,000.00) - 9,908,181
Total of Budget Amendment Items 63,300,899 - 46,805.00 63,347,704
Certification
Budget Director
Deputy Director, City Council/RDA Board
Contingent Appropriation and Notes
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