Loading...
Transmittal - 4/26/2024MAYOR ERIN MENDENHALL Executive Director REDEVELOPMENT AGENCY of SALT LAKE CITY DANNY WALZ Director DATE:April 26, 2024 PREPARED BY:Lauren Parisi & Makena Hawley, RDA Project Managers RE:Use of State Street Funds for Ballpark Site REQUESTED ACTION:Consider adoption of a resolution determining that the use of project area funds on the Ballpark properties will benefit the State Street Project Area POLICY ITEM:State Street Community Reinvestment Area BUDGET IMPACTS:N/A EXECUTIVE SUMMARY: Utah Code 17C permits the Redevelopment Agency (“RDA”) to participate in project area development outside of a project area if the RDA Board of Directors (“Board”) determines that such development will be a benefit to the project area. Though wholly surrounded by the State Street Community Reinvestment Area (“CRA”), the Ballpark site located at approximately 77 West 1300 South along with multiple adjacent parcels are not included within the CRA’s boundaries. As a matter of procedure, approval of the attached resolution would establish that the use of State Street funds on this particular site will benefit the State Street project area as a whole. ANALYSIS: Utah Code Section 17C-1-409 states that an Agency may use funds for “project area development in a project area.” Section 17C-1-102 defines project area development as “activity within a project area that, as determined by the board, encourages, promotes, or provides development or redevelopment for the purpose of implementing a project area plan, including… any activity described in this Subsection (48) [including development planning] outside of a project area that the board determines to be a benefit to the project area.” Approval of the attached resolution aims to ensure compliance with this section of state code where the Board must make a determination that spending State Street CRA funds on the Ballpark site will benefit the State Street CRA. The benefits to the State Street CRA that come from supporting the development of the Ballpark site are numerous including, but not limited to: Bringing more people to the site to support surrounding State Street businesses Activating the site to promote general safety throughout the neighborhood Increasing pedestrian connectivity to and through the site to benefit existing residents and visitors alike As described within the RDA’s FY24 Budget Amendment #4, $415,000 of tax increment from the State Street CRA is being requested to secure a consultant to create a design framework and vision for the 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 2 Ballpark development project. If additional State Street funds are needed to support the Ballpark project in the future, these requests will continue to be brought to the Board for consideration as part of the Agency’s budget process. ATTACHMENTS: Attachment A – Resolution 3 ATTACHMENT A – RESOLUTION 1 REDEVELOPMENT AGENCY OF SALT LAKE CITY RESOLUTION NO Determination that the Use of Project Area Funds on the Ballpark Properties will Benefit the State Street Project Area RESOLUTION OF THE BOARD OF DIRECTORS OF THE REDEVELOPMENT AGENCY OF SALT LAKE CITY DETERMINING THAT THE USE OF PROJECT AREA FUNDS ON THE BALLPARK PROPERTIES WILL BENEFIT THE STATE STREET PROJECT AREA. WHEREAS, the Redevelopment Agency Board of Directors (Board) adopted the State Street Community Reinvestment Area (Project Area) pursuant to Resolution 25 of 2018 to facilitate community reinvestment activities as described in the plan. WHEREAS, the Project Area generally runs along State Street from downtown to 2100 South and includes blocks east and west of State Street. The Project Area exempts the ballpark and some immediately adjacent parcels from the Project Area; however, these parcels are wholly surrounded by the Project Area. A depiction of the Project Area and exempted ballpark properties is attached as Exhibit A. The exempted parcels are collectively referred to in this resolution as “Ballpark.” WHEREAS, Utah Code 17C permits the Redevelopment Agency (RDA) to participate in project area development outside of a project area if the Board determines that such development will be a benefit to the project area. WHEREAS, the RDA desires to participate in project area development at the Ballpark, which is outside of the Project Area, and as such, requires a determination that the project area development will be a benefit to the Project Area. NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of the Redevelopment Agency of Salt Lake City that project area development at the Ballpark, which is outside of the Project Area but wholly surrounded by the Project Area, will benefit the Project Area. Passed by the Board of Directors of the Redevelopment Agency of Salt Lake City, Utah, this day of , 2024, to be effective upon adoption. , Chair 2 Approved as to form: Salt Lake City Attorney’s Office Allison Parks 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 [Depiction of Project Area and Ballpark] STATE STREET PROJECT AREA Legend State Street Project Area 1,000 500 0 1,000 Feet ±