Transmittal - 3/5/2024DEPARTMENT 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
ERINMENDENHALL
Mayor
MARY BETHTHOMPSON
Chief Financial Officer
RDABOARDTRANSMITTAL
___________________________________Date Received: ________________
Mayor Erin Mendenhall, Executive Director Date sent to Council: ___________
______________________________________________________________________________
TO:Salt Lake City RDA Board DATE: March 4, 2024
Alejandro Puy, RDA Chair
FROM:Mary Beth Thompson, Chief Financial Officer
Danny Walz, RDA Director
SUBJECT:RDA Budget Amendment #2, 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) 535-6461 or
Erin Cunningham (801) 535-7246
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:
The Second Amendment will not affect the Agency's overall budget total. Its purpose is to
reappropriate several project budgets and reallocate funds previously appropriated at a program
level and into two new project budgets.
REVENUE EXPENSE
RDAFUND $ 0.00 $ 0.00
TOTAL $ 0.00 $ 0.00
EXECUTIVE SUMMARY:
This amendment proposes the reappropriation of budgets previously earmarked for various
projects and reallocating program-level appropriations into two new projects. Identified project
budgets are either complete with surplus funds or more effectively integrated into larger projects.
It is recommended that program-level appropriations, including "Station Center Infrastructure
Funds" and "Depot District Infrastructure Funds," be appropriated to two (2) new projects.
The amendment maintains the total budget of appropriations but alters their distribution. There is
a total of $10,802,277 in appropriations not currently allocated to projects. Additionally, there
are five project budgets available for reappropriation, totaling $1,364,806. The combined total of
$12,167,583 is proposed for allocation to two new projects.
The staff memo, included below, outlines greater details of project reallocations, and provides
additional staff analysis.
A summary document outlining the proposed budget change is attached (Attachment C). 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. RDA Budget Amendment 2 Resolution
B. Budget Amendment 2 Staff Memo
C. Budget Amendment Summary
PUBLIC PROCESS: Public Hearing
1
REDEVELOPMENT AGENCY OF SALT LAKE CITY
RESOLUTION NO__________
Second 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 , 202 , 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]