Updated Resolution - 5/11/20231
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:____________________________
9th May
10 of 2023
2
The Executive Director:
____ does not request reconsideration
____ requests reconsideration at the next regular Agency meeting.
_________________________________
Erin Mendenhall, Executive Director
Attest:
_________________________
City Recorder
3
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 In from General Fund for Housing Property
Acquisition Cap PIF 4,000,000.00 4,000,000.00 4,000,000.00 4,000,000.00
1 True-up of Tax Increment revenues for FY'23 CBD (1,141,957.00) (1,141,957.00) One-time -
1 True-up of Tax Increment revenues for FY'23 Cap CBD (489,410.00) (489,410.00) One-time -
1 True-up of Tax Increment revenues for FY'23 Cap BL-70 2,226.00 2,226.00 One-time -
1 True-up of Tax Increment revenues for FY'23 BL-70 954.00 954.00 One-time -
1 True-up of Tax Increment revenues for FY'23 Cap DD 1,805,473.00 1,805,473.00 One-time -
1 True-up of Tax Increment revenues for FY'23 DD (514,215.00) (514,215.00) One-time -
1 True-up of Tax Increment revenues for FY'23 Cap GD 291,284.00 291,284.00 One-time -
1 True-up of Tax Increment revenues for FY'23 GD 156,845.00 156,845.00 One-time -
1 True-up of Tax Increment revenues for FY'23 NTV 1,514,910.00 1,514,910.00 One-time -
1 True-up of Tax Increment revenues for FY'23 Cap SS 1,364,709.00 1,364,709.00 One-time -
1 True-up of Tax Increment revenues for FY'23 SS 341,178.00 341,178.00 One-time -
1 True-up of Tax Increment revenues for FY'23 Cap 9L 775,212.00 775,212.00 One-time -
1 True-up of Tax Increment revenues for FY'23 9L 348,807.00 348,807.00 One-time -
1 True-up of Tax Increment revenues for FY'23 Cap NT 381,418.00 381,418.00 One-time -
1 True-up of Tax Increment revenues for FY'23 NT 163,465.00 163,465.00 One-time -
1 True-up of Tax Increment revenues for FY'23 SR 66,106.00 66,106.00 One-time -
1 True-up of Tax Increment revenues for FY'23 NWQ 421,224.00 421,224.00 One-time -
1 True-up of Tax Increment revenues for FY'23 Cap NWQ 46,801.00 46,801.00 One-time -
1 True-up of Tax Increment revenues for FY'23 Cap WCI 874,106.46 874,106.46 One-time -
1 True-up of Tax Increment revenues for FY'23 Cap 1P 798,313.00 798,313.00 One-time -
1 True-up of Tax Increment revenues for FY'23 Admin 560,721.00 560,721.00 One-time -
2 Adjust loan payment revenue (prin/int) forecast for
Housing Develoment Trust Fund HDT (1,382,000.00) (1,382,000.00) One-time -
4 Return RLF short-term property acquisition loan Cap DD 25,268.00 25,268.00 One-time -
-
Total of Budget Amendment Items 10,411,438.46 10,411,438.46 4,000,000.00 4,000,000.00
Total by Fund, Budget Amendment #3:
Redevelopment Agency Cap CBD (489,410.00) (489,410.00)
Redevelopment Agency CBD (1,141,957.00) (1,141,957.00)
Redevelopment Agency Cap BL-70 2,226.00 2,226.00
Redevelopment Agency BL-70 954.00 954.00
Redevelopment Agency Cap DD 1,830,741.00 1,830,741.00
Redevelopment Agency DD (514,215.00) (514,215.00)
Redevelopment Agency Cap GD 291,284.00 291,284.00
Redevelopment Agency GD 156,845.00 156,845.00
Redevelopment Agency NTV 1,514,910.00 1,514,910.00
Redevelopment Agency Cap SS 1,364,709.00 1,364,709.00
Redevelopment Agency SS 341,178.00 341,178.00
Redevelopment Agency Cap 9L 775,212.00 775,212.00
Redevelopment Agency 9L 348,807.00 348,807.00
Redevelopment Agency Cap NT 381,418.00 381,418.00
Redevelopment Agency NT 163,465.00 163,465.00
Redevelopment Agency SR 66,106.00 66,106.00
Redevelopment Agency Cap NWQ 46,801.00 46,801.00
Redevelopment Agency NWQ 421,224.00 421,224.00
Redevelopment Agency Cap WCI 874,106.46 874,106.46
Redevelopment Agency Cap 1P 798,313.00 798,313.00
Redevelopment Agency Admin 560,721.00 560,721.00
Redevelopment Agency HDT (1,382,000.00) (1,382,000.00)
Redevelopment Agency Cap PIF 4,000,000.00 4,000,000.00
Total of Budget Amendment Items 10,411,438.46 10,411,438.46 - - -
Current Year Budget Summary, provided for information only
FY 2022-23 Budget, Including Budget Amendments
Adopted Budget RDA BA #1Total RDA BA #2 Total RDA BA #3 Total Total To-Date
Redevelopment Agency 50,172,718 - 2,546,805.00 - 52,719,523
Redevelopment Agency Cap 13,128,181 - (2,500,000.00) 4,000,000.00 14,628,181
Total of Budget Amendment Items 63,300,899 - 46,805.00 4,000,000.00 67,347,704
Certification
Budget Director
Deputy Director, City Council/RDA Board
Contingent Appropriation and Notes
Fiscal Year 2022-23 RDA Budget Amendment #3 - May 9th RDA Board Adoption
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 ApprovedStaff Requested
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