Motion Sheet - 11/14/2024Item C2
CITY COUNCIL OF SALT LAKE CITY
451 SOUTH STATE STREET, ROOM 304
P.O. BOX 145476, SALT LAKE CITY, UTAH 84114-5476
SLCCOUNCIL.COM
TEL 801-535-7600 FAX 801-535-7651
MOTION SHEET
REDEVELOPMENT AGENCY of SALT LAKE CITY
TO:RDA Board of Directors
FROM:Ben Luedtke, Senior Analyst
DATE:November 12, 2024
RE: RDA Budget Amendment #1 of Fiscal Year 2025
MOTION 1 – ADOPT
I move that the Board adopt a resolution amending the Fiscal Year 2025 final budget of the
Redevelopment Agency of Salt Lake City only for items as shown on the motion sheet.
Staff note: The Board does not need to read the individual items below; they are provided for
reference.
D-1: Reallocate State Street Project Area Funds from the Commercial Assistance Reserves Program
Holding Account to the Commercial Revolving Loans Program ($1,239,049 one-time for a loan to
Liberty Corner Daycare)
Note that the Board previously approved $4.5 million for the same development ($2.8 million
from the HDLP and $1.7 million from dormant HOME funds. This additional $1.2 million would
provide most of a new loan of $1.6 million for an expanded daycare. This would bring the total
City investment to $6.1 million
MOTION 2 – NOT ADOPT
I move that the Board proceed to the next agenda item.