HomeMy WebLinkAbout08 of 2025 - CRA Budget Amendment No. 2 FY 2024-25SALT LAKE CITY COMMUNITY REINVESTMENT AGENCY
RESOLUTION NO -----
Second Budget Amendment for Fiscal Year 2024-2025
RESOLUTION OF THE BOARD OF DIRECTORS OF THE SALT LAKE CITY COMMUNITY
REINVESTMENT AGENCY AMENDING THE FINAL BUDGET OF THE CRA FOR FISCAL
YEAR 2024-2025.
WHEREAS, on June 11, 2024, the Salt Lake City Community Reinvestment Agency
(CRA) (formerly known as the Redevelopment Agency of Salt Lake City) Board of Directors
(Board) adopted the final budget of the CRA, effective for the fiscal year beginning July 1, 2024,
and ending June 30, 2025, in accordance with the requirements of Section l 7C-1-601.5 of the Utah
Code.
WHEREAS, all conditions precedent to amend the CRA's final annual budget have been
accomplished.
NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of the Salt Lake
City Community Reinvestment Agency:
1.Purpose. The purpose of this resolution is to amend the final annual budget of the
CRA, 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 CRA.
3.Filing of copies of the Budget Amendments. The Salt Lake City Finance
Department, on behalf of the CRA, is authorized and directed to certify and file a copy of said
budget amendments in the office of the Finance Department, the CRA, 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 _____ , 2025, to be effective upon adoption.
Darin Mano, Chair
10th June
08
Jennifer Hunstman, City Attorney
07/09/2025
Darin Mano (Jul 16, 2025 14:06 MDT)
2
The Executive Director:
does not request reconsideration
requests reconsideration at the next regular Agency meeting
Erin Mendenhall, Executive Director
Attest:
City Recorder
Erin Mendenhall (Jul 17, 2025 13:15 MDT)
4
3
EXHIBIT A TO RESOLUTION
Attach Board’s Final Approved Budget Amendment]
Initiative Number/Name Project Area Revenue Amount FTEs
1 Rev & Other Source Adj: Tax Increment Changes (2,378,301.00) 0.00 (2,378,301.00) 0.00 One-time -
1 Rev & Other Source Adj: Tax Increment Changes (116,869.00) 0.00 (116,869.00) 0.00 One-time -
1 Rev & Other Source Adj: Tax Increment Changes Northwest Quadrant 769,885.00 0.00 769,885.00 0.00 One-time -
2 Rev & Other Source Adj: Interest Changes 1,340,195.00 0.00 1,340,195.00 0.00 One-time -
2 Rev & Other Source Adj: Interest Changes 1,730.00 0.00 1,730.00 0.00 One-time -
2 Rev & Other Source Adj: Interest Changes Northwest Quadrant 64,662.00 0.00 64,662.00 0.00 One-time -
2 Rev & Other Source Adj: Interest Changes 384,481.00 0.00 384,481.00 0.00 One-time -
2 Rev & Other Source Adj: Interest Changes Community 133,581.00 0.00 133,581.00 0.00 One-time -
2 Rev & Other Source Adj: Interest Changes 1,388,986.00 0.00 1,388,986.00 0.00 One-time -
2 Rev & Other Source Adj: Interest Changes 458,696.00 0.00 458,696.00 0.00 One-time -
3 CRA Operations 654,099.00 0.00 654,099.00 0.00 One-time -
Fiscal Year 2024-25 CRA Budget Amendment #2 - Board Approved 6/10/2025
Section A: New Items
Section B: Grants for Existing Staff Resources
Section C: Grants for New Staff Resources
Section D: Housekeeping
Board ApprovedAdministration Proposed
1
Initiative Number/Name Project Area Revenue Amount FTEs
Board ApprovedAdministration Proposed
3 Primary Housing 328,976.00 0.00 328,976.00 0.00 One-time -
3 36,300.00 0.00 36,300.00 0.00 One-time -
3 2,029,551.00 0.00 2,029,551.00 0.00 One-time -
4 Obligated Exp & Other Uses Adj: Taxing Entity Payments - (110,721.00)- (110,721.00)One-time -
4 Obligated Exp & Other Uses Adj: Taxing Entity Payments Block 70 - (5,372.00)- (5,372.00)One-time -
4 Obligated Exp & Other Uses Adj: Taxing Entity Payments 9-Line - 35,159.00 - 35,159.00 One-time -
4 Obligated Exp & Other Uses Adj: Taxing Entity Payments State Street - (341,296.00)- (341,296.00)One-time -
5 Northwest Quadrant - 538,920.00 - 538,920.00 One-time -
5 - (190,000.00)- (190,000.00)One-time -
5 Block 67 North - 3,128.00 - 3,128.00 One-time -
5 Stadler Rail - 627.00 - 627.00 One-time -
6 Depot District - (19,952.00)- (19,952.00)One-time -
6 Granary District - 61,375.00 - 61,375.00 One-time -
6 North Temple - 106,126.00 - 106,126.00 One-time -
6 Stadler Rail - 967.00 - 967.00 One-time -
6 9-Line - 38,843.00 - 38,843.00 One-time -
6 State Street - 64,213.00 - 64,213.00 One-time -
6 Northwest Quadrant - 76,988.00 - 76,988.00 One-time -
6 Block 67 North - 417.00 - 417.00 One-time -
7 - (237,829.00)- (237,829.00)One-time -
7 Depot District - (14,966.00)- (14,966.00)One-time -
7 Granary District - 46,029.00 - 46,029.00 One-time -
7 North Temple - 79,596.00 - 79,596.00 One-time -
2
Initiative Number/Name Project Area Revenue Amount FTEs
Board ApprovedAdministration Proposed
7 - (1,752.00)- (1,752.00)One-time -
7 Stadler Rail - 483.00 - 483.00 One-time -
7 9-Line - 34,862.00 - 34,862.00 One-time -
7 State Street - 165,338.00 - 165,338.00 One-time -
7 Northwest Quadrant - 76,988.00 - 76,988.00 One-time -
7 Block 67 North - 210.00 - 210.00 One-time -
9 - 23,785.00 - 23,785.00 One-time -
9 Block 70 - 25,000.00 - 25,000.00 One-time -
9 North Temple - 34,490.00 - 34,490.00 One-time -
9 - (113,387.00)- (113,387.00)One-time -
9 Block 67 North - 417.00 - 417.00 One-time -
9 Primary Housing - 115,919.00 - 115,919.00 One-time -
9 - 36,300.00 - 36,300.00 One-time -
10 9-Line - 467,199.00 - 467,199.00 One-time -
10 Block 67 North - 4,840.00 - 4,840.00 One-time -
10 Depot District - 94,857.00 - 94,857.00 One-time -
10 Granary District - 224,351.00 - 224,351.00 One-time -
10 - 384,481.00 - 384,481.00 One-time -
10 North Temple - 244,962.00 - 244,962.00 One-time -
10 Northwest Quadrant - 141,651.00 - 141,651.00 One-time -
10 Primary Housing - 544,183.00 - 544,183.00 One-time -
10 - 1,388,986.00 - 1,388,986.00 One-time -
10 - 2,488,247.00 - 2,488,247.00 One-time -
3
Initiative Number/Name Project Area Revenue Amount FTEs
Board ApprovedAdministration Proposed
10 Secondary Housing - 103,055.00 - 103,055.00 One-time -
10 Stadler Rail - 3,354.00 - 3,354.00 One-time -
10 State Street - 1,124,655.00 - 1,124,655.00 One-time -
10 Discretionary Exp & Other Uses Adj: Transition Holding
Account
Westside
Community - 133,581.00 - 133,581.00 One-time -
11 Block 70 - (45,895.00) - (45,895.00)One-time -
11 - (523,341.00) - (523,341.00)One-time -
12 Accounting Error Corrections - 206,298.00 - 206,298.00 One-time -
12 Accounting Error Corrections Northwest Quadrant - 641,571.00 - 641,571.00 One-time -
Total of Budget Amendment Items 7,964,170.00 9,905,493.00 7,964,170.00 9,905,493.00
Total by Fund, CRA Budget Amendment #2:
Community Reinvestment Agency Central Business
District (1,038,106.00) (1,038,106.00) (1,038,106.00) (1,038,106.00)
Community Reinvestment Agency Depot District 59,939.00 59,939.00 59,939.00 59,939.00
Community Reinvestment Agency Granary District 331,755.00 331,755.00 331,755.00 331,755.00
Community Reinvestment Agency North Temple 465,174.00 465,174.00 465,174.00 465,174.00
Community Reinvestment Agency North Temple
Viaduct (115,139.00) 91,159.00 (115,139.00) 91,159.00
Community Reinvestment Agency Stadler Rail 5,431.00 38,942.00 5,431.00 38,942.00
Community Reinvestment Agency 9-Line 576,063.00 799,125.00 576,063.00 799,125.00
Community Reinvestment Agency State Street 1,012,910.00 1,550,661.00 1,012,910.00 1,550,661.00
Community Reinvestment Agency Northwest Quadrant 834,547.00 1,476,118.00 834,547.00 1,476,118.00
Section G: Board Consent Agenda -- Grant Awards
Section I: Board Added Items
Section E: Grants Requiring No New Staff Resources
Section F: Donations
4
Initiative Number/Name Project Area Revenue Amount FTEs
Board ApprovedAdministration Proposed
Community Reinvestment Agency Block 67 North 9,012.00 58,238.00 9,012.00 58,238.00
Community Reinvestment Agency Block 70 (26,267.00) 126,351.00 (26,267.00) 126,351.00
Community Reinvestment Agency Primary Housing 660,102.00 660,102.00 660,102.00 660,102.00
Community Reinvestment Agency Secondary Housing 103,055.00 103,055.00 103,055.00 103,055.00
Community Reinvestment Agency Housing
Development Fund 384,481.00 384,481.00 384,481.00 384,481.00
Community Reinvestment Agency
Westside
Community 133,581.00 133,581.00 133,581.00 133,581.00
Community Reinvestment Agency Program Income
Fund 1,425,286.00 1,425,286.00 1,425,286.00 1,425,286.00
Community Reinvestment Agency Revolving Loan
Fund 2,488,247.00 2,488,247.00 2,488,247.00 2,488,247.00
Community Reinvestment Agency CRA Operations 654,099.00 751,385.00 654,099.00 751,385.00
Total of Budget Amendment Items 7,964,170.00 9,905,493.00 7,964,170.00 9,905,493.00 -
-
FY 2024-25 Budget, Including Budget Amendments
Total Revenue CRA BA #1 Total CRA BA #2 Total CRA BA #3 Total CRA BA #4 Total Total To-Date
Community Reinvestment Agency 84,656,884 - 7,964,170 92,621,054
Total of Budget Amendment Items 84,656,884 - 7,964,170 - 92,621,054
Total Expense CRA BA #1 Total CRA BA #2 Total CRA BA #3 Total CRA BA #4 Total Total To-Date
Community Reinvestment Agency 84,656,884 - 9,905,493 94,562,377
Total of Budget Amendment Items 84,656,884 - 9,905,493 - 94,562,377
Certification
Finance Department/CRA
City Council Office
5
Benjamin Luedtke (Jun 19, 2025 16:49 MDT)
Jennifer Bruno (Jul 8, 2025 10:23 MDT)
Jennifer Bruno
Resolution 08 of 2025 - CRA Budget
Amendment No.2 for Fiscal Year 2024-25
Final Audit Report 2025-07-17
Created:2025-06-19
By:STEPHANIE ELLIOTT (STEPHANIE.ELLIOTT@slc.gov)
Status:Signed
Transaction ID:CBJCHBCAABAAuSzCA-DB6fYSEE_5uRhN63MPxtq63Njl
"Resolution 08 of 2025 - CRA Budget Amendment No.2 for Fisc
al Year 2024-25" History
Document created by STEPHANIE ELLIOTT (STEPHANIE.ELLIOTT@slc.gov)
2025-06-19 - 7:20:43 PM GMT
Document emailed to Benjamin Luedtke (Benjamin.Luedtke@slc.gov) for signature
2025-06-19 - 7:24:02 PM GMT
Email viewed by Benjamin Luedtke (Benjamin.Luedtke@slc.gov)
2025-06-19 - 10:46:21 PM GMT
Document e-signed by Benjamin Luedtke (Benjamin.Luedtke@slc.gov)
Signature Date: 2025-06-19 - 10:49:01 PM GMT - Time Source: server
Document emailed to jennifer.bruno@slc.gov for signature
2025-06-19 - 10:49:03 PM GMT
Email viewed by jennifer.bruno@slc.gov
2025-07-08 - 4:23:02 PM GMT
Signer jennifer.bruno@slc.gov entered name at signing as Jennifer Bruno
2025-07-08 - 4:23:19 PM GMT
Document e-signed by Jennifer Bruno (jennifer.bruno@slc.gov)
Signature Date: 2025-07-08 - 4:23:21 PM GMT - Time Source: server
Document emailed to jennifer.hunstman@slc.gov for signature
2025-07-08 - 4:23:23 PM GMT
Email sent to jennifer.hunstman@slc.gov bounced and could not be delivered
2025-07-08 - 4:23:29 PM GMT
STEPHANIE ELLIOTT (STEPHANIE.ELLIOTT@slc.gov) added alternate signer Allison Parks
(allison.parks@slc.gov). The original signer jennifer.hunstman@slc.gov can still sign.
2025-07-08 - 4:25:33 PM GMT
Document emailed to Allison Parks (allison.parks@slc.gov) for signature
2025-07-08 - 4:25:33 PM GMT
Email sent to jennifer.hunstman@slc.gov bounced and could not be delivered
2025-07-08 - 4:25:40 PM GMT
Email viewed by Allison Parks (allison.parks@slc.gov)
2025-07-09 - 0:20:42 AM GMT
Document e-signed by Allison Parks (allison.parks@slc.gov)
Signature Date: 2025-07-09 - 4:37:07 PM GMT - Time Source: server
Document emailed to darin.mano@slc.gov for signature
2025-07-09 - 4:37:09 PM GMT
Email sent to Allison Parks (allison.parks@slc.gov) bounced and could not be delivered
2025-07-09 - 4:37:10 PM GMT
Email viewed by darin.mano@slc.gov
2025-07-09 - 4:44:36 PM GMT
Email viewed by darin.mano@slc.gov
2025-07-14 - 10:18:28 PM GMT
Signer darin.mano@slc.gov entered name at signing as Darin Mano
2025-07-16 - 8:06:17 PM GMT
Document e-signed by Darin Mano (darin.mano@slc.gov)
Signature Date: 2025-07-16 - 8:06:19 PM GMT - Time Source: server
Document emailed to Erin Mendenhall (erin.mendenhall@slc.gov) for signature
2025-07-16 - 8:06:21 PM GMT
Email viewed by Erin Mendenhall (erin.mendenhall@slc.gov)
2025-07-17 - 4:15:03 AM GMT
Document e-signed by Erin Mendenhall (erin.mendenhall@slc.gov)
Signature Date: 2025-07-17 - 7:15:06 PM GMT - Time Source: server
Document emailed to Keith Reynolds (Keith.Reynolds@slc.gov) for signature
2025-07-17 - 7:15:09 PM GMT
Email viewed by Keith Reynolds (Keith.Reynolds@slc.gov)
2025-07-17 - 8:07:55 PM GMT
Document e-signed by Keith Reynolds (Keith.Reynolds@slc.gov)
Signature Date: 2025-07-17 - 8:08:34 PM GMT - Time Source: server
Agreement completed.
2025-07-17 - 8:08:34 PM GMT