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HomeMy WebLinkAboutMotion Sheet - 4/14/2026Item C3 CITY COUNCIL OF SALT LAKE CITY 451 SOUTH STATE STREET, ROOM 304 P.O. BOX 145476, SALT LAKE CITY, UTAH 84114-5476 SLC.GOV/COUNCIL TEL 801-535-7600 FAX 801-535-7651 MOTION SHEET SALT LAKE CITY COMMUNITY REINVESTMENT AGENCY TO:CRA Board of Directors FROM:Kate Werrett, Budget & Policy Analyst DATE:April 14, 2026 RE: PICKLE AND HIDE MIXED-USE DEVELOPMENT TAX INCREMENT REIMBURSEMENT REQUEST TERM REVIEW MOTION 1 – ADOPT AT 90% PARTICIPATION WITH $5,078,545 REIMBURSEMENT CAP I move that the Board adopt a resolution approving the Pickle & Hide Tax Increment Reimbursement Agreement Term Sheet Modifications, which acknowledges the demolition and reconstruction of the Utah Pickle Co. building and modifies the maximum property tax reimbursement amount to 90% and reduces the Maximum Reimbursement Amount to $5,078,545. MOTION 2 – ADOPT AT 75% PARTICIPATION I move that the Board adopt a resolution approving the Pickle & Hide Tax Increment Reimbursement Agreement Term Sheet Modifications, which acknowledges the demolition and reconstruction of the Utah Pickle Co. building and modifies the maximum property tax reimbursement amount to 75% and reduces the Maximum Reimbursement Amount to $5,078,545. MOTION 3 – ADOPT AT 60% PARTICIPATION I move that the Board adopt a resolution approving the Pickle & Hide Tax Increment Reimbursement Agreement Term Sheet Modifications, which acknowledges the demolition and reconstruction of the Utah Pickle Co. building and modifies the maximum property tax reimbursement amount to 60% and reduces the Maximum Reimbursement Amount to $4,062,836. MOTION 4 – ADOPT AT 80% PARTICIPATION I move that the Board adopt a resolution approving the Pickle & Hide Tax Increment Reimbursement Agreement Term Sheet Modifications, which acknowledges the demolition and reconstruction of the Utah Pickle Co. building and modifies the maximum property tax reimbursement amount to 80% and reduces the Maximum Reimbursement Amount to $5,417,115. MOTION 5 – ADOPT AT 86.7% PARTICIPATION I move that the Board adopt a resolution approving the Pickle & Hide Tax Increment Reimbursement Agreement Term Sheet Modifications, which acknowledges the demolition and reconstruction of the Utah Pickle Co. building and modifies the maximum property tax reimbursement amount to 86.7% and reduces the Maximum Reimbursement Amount to $5,870,798. 2 7 0 5 3 MOTION 6 – ADOPT WITH NO REDUCTION I move that the Board adopt a resolution approving the Pickle & Hide Tax Increment Reimbursement Agreement Term Sheet Modifications, which acknowledges the demolition and reconstruction of the Utah Pickle Co. building. I move that the Board proceed to the next agenda item. NOTE: These two conditions may be considered for any adoption option: 1.URC PARTICIPATION: I move that all community and commercial spaces within Phases I, II, and any future phases participate in the Utah Renewable Community program for all community and commercial spaces inside and outside the buildings, including but not limited to: shared hallways and services, structured parking, community and/or building amenities, and exterior features. The only project elements not required to participate would be the individual residential units. 2.NEW WAIVER: I move that, in addition to the waiver for the Phases I and II designated restaurant spaces gas stovetops, Section 3.a.b of the CRA Sustainable Development Policy be waived for designated residential amenity spaces. This is limited to three community fireplaces and two community grills.