HomeMy WebLinkAboutUpdated Resolution - 10/14/20251
SALT LAKE CITY COMMUNITY REINVESTMENT AGENCY
RESOLUTION NO__________
First Budget Amendment for Fiscal Year 2025- 2026
RESOLUTION OF THE BOARD OF DIRECTORS OF THE SALT LAKE CITY COMMUNITY
REINVESTMENT AGENCY AMENDING THE FINAL BUDGET OF THE CRA FOR FISCAL
YEAR 2025-2026.
WHEREAS, on June 10, 2025, 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, 2025,
and ending June 30, 2026, in accordance with the requirements of Section 17C-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 10, 2025.
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 Salt Lake City Community Reinvestment Agency
of Salt Lake City, Utah, this day of , 2025, to be effective upon adoption.
Chair
Approved as to form: __/s/ Jennifer Huntsman__
Salt Lake City Attorney’s Office
Jennifer Huntsman
15 of 2025
14th October
Darin Mano
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]
Project Area
Revenue
Amount
Expenditure
Amount
Revenue
Amount
Expenditure
Amount
Ongoing or One-
time FTEs
1 Reallocation of Commercial Revolving Loan Program funding Central Business District - (1,626,949) - (1,626,949) One-time
1 Reallocation of Commercial Revolving Loan Program funding Revolving Loan Fund - (3,373,051) - (3,373,051) One-time
2 Creation of the Disaster Relief Loan Program (DRLP) emergency funding
from Commercial Revolving Loan Program Central Business District - 1,626,949 - 1,626,949 One-time
2 Creation of the Disaster Relief Loan Program (DRLP) emergency funding
from Commercial Revolving Loan Program Revolving Loan Fund - 3,373,051 - 3,373,051 One-time
3 Reallocation of Commercial Assistance Reserve funding to CDLP Deport District - (1,000,000) - (1,000,000) One-time
3 Reallocation of Commercial Assistance Reserve funding to CDLP Granary District - (2,267,132) - (2,267,132) One-time
4 Reallocation of Adaptive Reuse Loan funding to CDLP Granary District - (882,175) - (882,175) One-time
5 Reallocation of Commercial Assistance and Adaptive Reuse funds to CDLP Deport District - 1,000,000 - 1,000,000 One-time
5 Reallocation of Commercial Assistance and Adaptive Reuse funds to CDLP Granary District - 3,149,307 - 3,149,307 One-time
-
Total of Budget Amendment Items -$ -$ -$ -$
Redevelopment Agency Central Business District -$ -$ One-time
Redevelopment Agency Depot District - -
Redevelopment Agency Granary District - -
Redevelopment Agency Revolving Loan Fund - - One-time
Total of Budget Amendment Items -$ -$ -$ -$
Total Revenue RDA BA #1 Total RDA BA #2 Total RDA BA #3 Total RDA BA #4 Total Total To-Date
Redevelopment Agency 86,036,232$ - - - - $ 86,036,232
Total of Budget Amendment Items 86,036,232$ - - - - $ 86,036,232
Total Expense RDA BA #1 Total RDA BA #2 Total RDA BA #3 Total RDA BA #4 Total Total To-Date
Redevelopment Agency 86,036,232$ - - - - $ 86,036,232
Total of Budget Amendment Items 86,036,232$ - - - - $ 86,036,232
Current Year Budget Summary, provided for information only
FY 2025-26 Budget, Including Budget Amendments
Section F: Donations
Section G: Board Consent Agenda -- Grant Awards
Section I: Board Added Items
Total by Fund, Budget Amendment #1:
Section E: Grants Requiring No New Staff Resources
Fiscal Year 2025-26 CRA Budget Amendment #1 - Final Adopted 10/14/2025
Administration Proposed Board Approved
Initiative Number/Name
Section A: New Items
Section B: Grants for Existing Staff Resources
Section C: Grants for New Staff Resources
Section D: Housekeeping
Budget Manager
Deputy Director, City Council/RDA Board
Contingent Appropriation and Notes
Certification