Updated Resolution - 4/30/20241
REDEVELOPMENT AGENCY OF SALT LAKE CITY
RESOLUTION NO
Fourth 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, 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 , 2024, to be effective upon adoption.
, 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]
Contingent Appropriation and Notes
Fiscal Year 2023-24 RDA Budget Amendment #4
Administration Proposed Board Approved
Initiative Number/Name Project Area Revenue Amount Expenditure Amount Revenue Amount Expenditure Amount Ongoing or One-time FTEs
Section A: New Items
1 Tax Increment Revenue Central Business District $2,621,013.00
1 Tax Increment Revenue Block 70 $304,764.00
1 Tax Increment Revenue Depot District $649,230.00
1 Tax Increment Revenue Granary District $253,977.00
1 Tax Increment Revenue North Temple $504,760.00
1 Tax Increment Revenue North Temple Viaduct $284,199.00
1 Tax Increment Revenue Stadler Rail $16,694.00
1 Tax Increment Revenue 9-Line $317,508.00
1 Tax Increment Revenue State Street $1,329,972.00
1 Tax Increment Revenue Northwest Quadrant $1,052,539.00
1 Tax Increment Revenue Block 67 North $358,599.00
2 Transfer In Primary Housing $589,124.00
2 Transfer Out Depot District $129,846.00
2 Transfer Out Granary District $50,795.00
2 Transfer Out North Temple $100,952.00
2 Transfer Out Stadler Rail $1,669.00
2 Transfer Out 9-Line $31,751.00
2 Transfer Out State Street $132,997.00
2 Transfer Out Northwest Quadrant $105,254.00
2 Transfer Out Block 67 North $35,860.00
3 Transfer In Agency Operations $790,676.00
3 Transfer Out Central Business District $262,102.00
3 Transfer Out Depot District $97,385.00
3 Transfer Out Granary District $38,096.00
3 Transfer Out North Temple $126,150.00
3 Transfer Out North Temple Viaduct $4,263.00
3 Transfer Out Stadler Rail $835.00
3 Transfer Out 9-Line $5,663.00
3 Transfer Out State Street $132,998.00
3 Transfer Out Northwest Quadrant $105,254.00
3 Transfer Out Block 67 North $17,930.00
4 Charges and Services Agency Operations $153,117.00
4 Operation and Maintenance Agency Operations $75,000.00
5 Debt Service and Contractual Obligations North Temple $27,766.00
5 Debt Service and Contractual Obligations North Temple Viaduct $279,936.00
5 Debt Service and Contractual Obligations Block 67 North $35,860.00
5 Debt Service and Contractual Obligations Primary Housing $81,619.00
5 Debt Service and Contractual Obligations Northwest Quadrant $105,254.00
6 Transfer out Central Business District $(292,852.00)
6 Transfer In Block 70 $(292,852.00)
7 Taxing Entity Payments Central Business District $1,572,608.00
7 Taxing Entity Payments Block 70 $11,912.00
7 Taxing Entity Payments 9-Line $3,591.00
8 TI reimbursements Stadler Rail $14,190.00
8 TI reimbursements Northwest Quadrant $736,777.00
8 TI reimbursements Block 67 North $268,949.00
9 Transition Holding Accout Central Business District $786,303.00
9 Transition Holding Accout Depot District $421,999.00
9 Transition Holding Accout Granary District $165,086.00
9 Transition Holding Accout North Temple $249,892.00
9 Transition Holding Accout 9-Line $276,503.00
9 Transition Holding Accout State Street $648,977.00
9 Transition Holding Accout Primary Housing $507,505.00
10 Infrastructire Study State Street $415,000.00
Section B: Grants for Existing Staff Resourc
Section C: Grants for New Staff Resources
Section D: Housekeeping
Section E: Grants Requiring No New Staff R
Section F: Donations
-
Section G: Board Consent Agenda -- Grant
Section I: Board Added Items
Total of Budget Amendment Items -0 --
Total by Fund, Budget Amendment #4:
Redevelopment Agency Central Business District 2,621,013.00 2,328,161.00 -
Redevelopment Agency Block 70 11,912.00 11,912.00
Redevelopment Agency Depot District 649,230.00 649,230.00
Redevelopment Agency Granary District 253,977.00 253,977.00
Redevelopment Agency North Temple 504,760.00 504,760.00
Redevelopment Agency North Temple Viaduct 284,199.00 284,199.00
Redevelopment Agency Stadler Rail 16,694.00 16,694.00
Redevelopment Agency 9-Line 317,508.00 317,508.00
Redevelopment Agency State Street 1,329,972.00 1,329,972.00
Redevelopment Agency Northwest Quadrant 1,052,539.00 1,052,539.00
Redevelopment Agency Block 67 North 358,599.00 358,599.00
Redevelopment Agency Primary Housing 589,124.00 589,124.00
Redevelopment Agency Secondary Housing --
Redevelopment Agency Housing Development Fund --
Redevelopment Agency Westside Community Initiative --
Redevelopment Agency Program Income Fund --
Redevelopment Agency Revolving Loan Fund ---
Redevelopment Agency Agency Operations 790,676.00 228,117.00 -
-
Total of Budget Amendment Items 8,780,203.00 7,924,792.00 ---
Current Year Budget Summary, provided for infor
FY 2023-24 Budget, Including Budget Amen
Total Revenue RDA BA #1 Total RDA BA #2 Total RDA BA #3 Total RDA BA #4 Total Total To-Date
Redevelopment Agency 80,803,841 -6,476,014 --$8,780,203.00 74,327,827
Total of Budget Amendment Items 80,803,841 -6,476,014 --74,327,827
Total Expense RDA BA #1 Total RDA BA #2 Total RDA BA #3 Total RDA BA #4 Total Total To-Date
Redevelopment Agency 80,803,841 -6,476,014 --$7,924,792.00 74,327,827
Total of Budget Amendment Items 80,803,841 -6,476,014 --74,327,827
Certification
Budget Manager
Deputy Director, City Council/RDA Board