Proposed Resolution - 11/14/2024REDEVELOPMENT AGENCY OF SALT LAKE CITY
RESOLUTION NO
First Budget Amendment for Fiscal Year 2024-2025
RESOLUTION OF THE BOARD OF DIRECTORS OF THE REDEVELOPMENT AGENCY
OF SALT LAKE CITY AMENDING THE FINAL BUDGET OF THE RDA FOR FISCAL
YEAR 2024-2025.
WHEREAS, on June 11, 2024, the Redevelopment Agency (RDA) Board of Directors
(Board) adopted the final budget of the RDA, effective for the fiscal year beginning July 1, 2024,
and ending June 30, 2025, 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 11, 2024.
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. Filina of copies of the Budizet 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.
Alejandro Puy, Chair
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
EXHIBIT A TO RESOLUTION
[Attach Board's Final Approved Budget Amendment]
Fiscal Year 2024-25 RDA Budget Amendment #1
Section A: New Items
Section B: Grants for Existing Staff Resources
Section C: Grants for New Staff Resources
Section D: Housekeeping
1 RDA: Reallocate funds from the Commercial Assistance
Commercial Assist
Reserves Program to the Commercial Revolving Loans
Reserves - SS
Program within the State Street Fund
1 RDA: Reallocate funds from the Commercial Assistance
Commercial
Reserves Program to the Commercial Revolving Loans
Revolving Loans -
Program within the State Street Fund
SS
Section E: Grants Requiring No New Staff Resources
Section F: Donations
Section G: Board Consent Agenda -- Grant Awards
Section I: Board Added Items
Administration Proposed
Board Approved
(1,239,049.00) One-time -
1,239,049.O0 One-time -
Total of Budget Amendment Items 1 - 0.00
Total by Fund, Budget Amendment #1: I
Redevelopment Agency Commercial Assist - (1,239,049.00)
Reserves - SS
Redevelopment Agency Commercial - 1,239,049.00
Revolving Loans -
SS
Total of Budget Amendment Items - -
1
Fiscal Year 2024-25 RDA Budget Amendment #1
IAdministration Proposed I Board Approved
Current Year Budget Summary, provided for information only
FY2o23-24 Budget, Includinq Bud et Amendments
Total Revenue RDA BA #1 Total RDA1 1To-Date
Redevelopment Agency 84, 656,884 - - - 84, 656, 884
Total of Budget Amendment Items 84,656,884 - - - 84,656,884
Redevelopment Agency 84,656,884 I - - - 84,656,884
Total of Budget Amendment Items 84,656,884 - - - 84,656,884
Certification
Budget Manager
Deputy Director, City Council/RDA Board
2