HomeMy WebLinkAboutUpdated Resolution - 6/10/2025SALT LAKE CITY COMMUNITY REINVESTMENT AGENCY
RESOLUTION NO__________
Adopting the Budget of the Salt Lake City Community Reinvestment Agency of Salt Lake City,
Utah for Fiscal Year 2025-2026
A resolution of the Board of Directors of the Salt Lake City Community Reinvestment
Agency of Salt Lake City, Utah adopting the budget for the fiscal year beginning July 1, 2025
and ending June 30, 2026.
WHEREAS, the Salt Lake City Community Reinvestment Agency (“Agency”) was
created to transact the business and exercise the powers provided for in the Community
Reinvestment Agency Act; and
WHEREAS, the Agency’s Board of Directors (“Board”) has determined it is both
necessary and desirable to adopt the 2025-2026 annual budget (“Budget”); and
WHEREAS, the Board has determined that the public improvements to be carried out
with tax increment in each of the project areas will be of benefit to the project area which
generated the tax increment; and
WHEREAS, on May 6, 2025 the Board of Directors adopted the tentative budget by
Resolution 7 of 2025 (“Tentative Budget”); and
WHEREAS, at its May 20, 2025, and June 3, 2025 meetings, the Board held public
hearings, at which interested persons in attendance or connected remotely were given an
opportunity to be heard on the estimates of revenues and expenditures or any item in the
Tentative Budget; and
WHEREAS, the Tentative Budget adopted by the Board and all supporting schedules and
data was a public record in the Office of the Salt Lake City Recorder, available for public
inspection before the adoption of the Budget; and
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WHEREAS, the Agency caused a copy of the Tentative Budget to be available before the
public hearing in accordance with state law.
NOW, THEREFORE, be it resolved by the Board of Directors of the Salt Lake City
Community Reinvestment Agency, that the previously adopted Tentative Budget, as modified by
the “Key Changes” attached and made a part of this Resolution, is adopted as the Budget of the
Salt Lake City Community Reinvestment Agency for the fiscal year commencing on July 1,
2025 and ending June 30, 2026.
BE IT FURTHER RESOLVED, that the following budget contingencies are hereby
adopted with the Agency's 2025-2026 Budget:
A. A copy of the Budget shall be certified and filed in the Office of the Salt Lake
City Recorder whose permanent office is located at 451 South State Street, Room 415, Salt Lake
City, Utah 84111 and be available to the public for inspection during regular business hours.
B. A copy of the Budget shall be certified and filed with the Salt Lake County
Auditor, the State Tax Commission, the State Auditor, the State Board of Education, and each
taxing entity from which the Agency receives project area funds as required by Utah Code
Section 17C-1-601.5(6) within 90 days after its adoption.
C. This Resolution shall take effect on July 1, 2025.
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Passed by the Board of Directors of the Salt Lake City Community Reinvestment
Agency, this ___ day of June, 2025.
________________________________
Alejandro Puy, Chair
The Executive Director:
____ does not request reconsideration
____ requests reconsideration at the next regular Agency meeting
_________________________________
Erin Mendenhall, Executive Director
Attest:
_________________________
Keith Reynolds, City Recorder
APPROVED AS TO FORM
Office of the City Attorney
Date: 06/10/2025
By: /s/ Mark E. Kittrell
City Attorney