Transmittal - 9/25/2023
DEPARTMENT OF FINANCE
POLICY AND BUDGET DIVISION
451 SOUTH STATE STREET, ROOM 238
PO BOX 145467, SALT LAKE CITY, UTAH 84114-5455 TEL 801-535-6394
ERIN MENDENHALL
Mayor
MARY BETH THOMPSON
Chief Financial Officer
RDA BOARD TRANSMITTAL
___________________________________ Date Received: ________________
Mayor Erin Mendenhall, Executive Director Date sent to Council: ___________
______________________________________________________________________________
TO: Salt Lake City RDA Board DATE: September 25, 2023
Alejandro Puy, RDA Chair
FROM: Mary Beth Thompson, Chief Financial Officer
Danny Walz, RDA Director
SUBJECT: RDA Budget Amendment #1, FY 2023-24
SPONSOR: NA
STAFF CONTACT: Greg Cleary, Budget Director (801) 535-6394 or
Mary Beth Thompson (801) 535-6403 or
Mike Burns (801) 565-6461 or
Danny Walz (801) 535-7209
DOCUMENT TYPE: Budget Amendment Resolution
RECOMMENDATION: The Administration recommends that subsequent to a public hearing,
the RDA Board adopt the following amendment to the FY 2023-24 adopted budget.
BUDGET IMPACT:
REVENUE EXPENSE
RDA FUND $ .00 $ 6,476,014.00
TOTAL $ .00 $ 6,476,014.00
Erin Mendenhall (Sep 25, 2023 13:20 MDT)09/25/2023
09/25/2023
EXECUTIVE SUMMARY:
The purpose of the first amendment (“amendment”) is to align the RDA budget with the City’s
second Budget Amendment, which reallocates $6,476,014 from the Agency’s Housing
Development Fund to the City’s Miscellaneous Grants Fund. This amendment is administrative
in nature and is being proposed for accounting and financial tracking purposes.
In the Fiscal Year 2024 budget, the Board transferred $6,476,014 in Dormant HOME Program
Income Funds initially allocated to the Community and Neighborhoods Department to
the Agency's Housing Development Fund. This allocation is intended to be incorporated into the
annual housing Notice of Funding Availability (NOFA) by the Agency. However, due to the
specific reporting obligations associated with these Funds, the City's Finance Department is
suggesting a transfer of these funds to the Miscellaneous Grants Fund.
A summary spreadsheet document, outlining the proposed budget change is attached
(Attachment B). The Administration requests this document be modified based on the decisions
of the Board. The budget amendment contains one item in section D – Housekeeping Items:
A. New Budget Items
B. Grants for Existing Staff Resources
C. Grants for New Staff Resources
D. Housekeeping Items
E. Grants Requiring No New Staff Resources
F. Donations
G. Council Consent Agenda Grant Awards
I. Council Added Items
ATTACHMENTS:
A. Resolution
B. Budget Amendment #1 Summary Spreadsheet
C. RDA Staff Memo
PUBLIC PROCESS: Public Hearing
1
REDEVELOPMENT AGENCY OF SALT LAKE CITY
RESOLUTION NO__________
First Budget Amendment for Fiscal Year 2023-2024
RESOLUTION OF THE BOARD OF DIRECTORS OF THE REDEVELOPMENT AGENCY
OF SALT LAKE CITY AMENDING THE FINAL BUDGET OF THE RDA FOR FISCAL
YEAR 2023-2024.
WHEREAS, on June 13, 2023, the Redevelopment Agency (RDA) Board of Directors
(Board) adopted the final budget of the RDA, effective for the fiscal year beginning July 1, 2023,
and ending June 30, 2024, in accordance with the requirements of Section 17C-1-601.5 of the Utah
Code.
WHEREAS, on May 2, 2023, the Board approved a resolution adopting the tentative final
budget, while reserving consideration of other proposed amendments until a later date.
WHEREAS, all conditions precedent to amend the RDA's final annual 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 annual budget of the
RDA, as approved, ratified and finalized by the Board on June 13, 2023.
2. Adoption of Amendments. The budget amendments shown on Exhibit A as “Board
Approved” are hereby adopted and incorporated into the annual 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
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 RDA Housing Funds Transfer to Misc Grants Housing Dev Fund - 6,476,014.00 One-time -
-
Total of Budget Amendment Items - 6,476,014.00 - -
Total by Fund, Budget Amendment #1:
Redevelopment Agency RDA - 6,476,014.00 - - -
Total of Budget Amendment Items - 6,476,014.00 - - -
Fiscal Year 2023-24 RDA Budget Amendment #1
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
1
Initiative Number/Name Project Area Revenue Amount
Expenditure
Amount
Revenue
Amount
Expenditure
Amount
Ongoing or One-
time FTEs
Fiscal Year 2023-24 RDA Budget Amendment #1
Board ApprovedAdministration Proposed
Current Year Budget Summary, provided for information only
FY 2023-24 Budget, Including Budget Amendments
FY 2023-24
Adopted Budget RDA BA #1 Total Total To-Date
Redevelopment Agency 80,803,841 6,476,014 - 87,279,855
Total of Budget Amendment Items 80,803,841 6,476,014 87,279,855
Certification
Budget Manager
Deputy Director, City Council/RDA Board
Contingent Appropriation and Notes
2
REDEVELOPMENT AGENCY of SALT LAKE CITY
SALT LAKE CITY CORPORATION
451 SOUTH STATE STREET, ROOM 118 WWW.SLC.GOV · WWW.SLCRDA.COM
P.O. BOX 145518, SALT LAKE CITY, UTAH 84114-5518 TEL 801-535-7240 · FAX 801-535-7245
MAYOR ERIN MENDENHALL
Executive Director
DANNY WALZ
Director
STAFF MEMO
DATE: September 22, 2023
PREPARED BY: Erin Cunningham, Financial Analyst
RE: RDA Budget Amendment #1, FY 2023-2024
REQUESTED ACTION: Discussion and approval of Budget Amendment #1
BUDGET IMPACTS: The First Amendment reduces the Agency’s Housing Development Fund by
approximately $6.4 million.
EXECUTIVE SUMMARY: The purpose of this amendment is to align with the City's Second Budget
Amendment, which reallocates $6,476,014 from the Agency's Housing Development Fund to the City's
Miscellaneous Grants Fund.
ANALYSIS & ISSUES: In the Fiscal Year 2024 budget, the Board transferred $6,476,014 in Dormant
HOME Program Income Funds initially allocated in the to Community and Neighborhoods Department to
the Agency's Housing Development Fund. This allocation is intended to be incorporated into the annual
housing Notice of Funding Availability (NOFA) by the Agency. However, due to the specific reporting
obligations associated with these Funds, the City's Finance Department is suggesting a transfer of these
funds to the Miscellaneous Grants Fund.
PREVIOUS BOARD ACTION:
1. Approval of the Fiscal Year 2023-2024 Budget.
ATTACHMENTS: N/A