017 of 2021 - Project Area Extension for Central Business, North Temple, Depot, and Granary1
REDEVELOPMENT AGENCY OF SALT LAKE CITY
RESOLUTION NO. of 2021
AUTHORIZING EXTENSION OF THE CENTRAL BUSINESS DISTRICT, NORTH
TEMPLE, DEPOT DISTRICT, AND GRANARY DISTRICT PROJECT AREA FUNDS
COLLECTION PERIODS
WHEREAS, pursuant to Chapter 5, Community Reinvestment, of Title 17C of the Utah
Code, the Redevelopment Agency of Salt Lake City (“Agency”) may approve community
reinvestment project area plans for the purpose of supporting community revitalization within
designated project areas.
WHEREAS, prior to December 31, 2019, the Board of Directors of the Agency (“Board”)
approved the Central Business District, North Temple, Depot District, and Granary District project
area plans which facilitate the capture of tax increment within the boundaries of the respective
project areas during a defined project area funds collection period. These four project areas will be
referred to collectively as the “Impacted Project Areas.”
WHEREAS, due to the COVID-19 emergency (as that term is defined in 53-2c-102 of the
Utah Code), the Agency determined that the Impacted Project Areas have been affected such that
the Agency will likely be delayed in implementing the project area plans or the Agency will likely
receive a lower amount of tax increment than expected.
WHEREAS, subject to the requirements of 17C-1-416 of the Utah Code, the Agency may
extend project areas’ funds collection periods for up to two years to account for the impacts of the
COVID-19 emergency.
WHEREAS, the Board desires to adopt this Resolution to extend the project area funds
collection periods for two years for the Impacted Project Areas.
NOW THEREFORE, BE IT RESOLVED by the Board of Directors of the Redevelopment
Agency of Salt Lake City:
1.The Board finds that the following conditions resulting from the COVID-19 emergency
will likely delay the implementation of the project area plans or reduce the amount of tax
increment that the Agency will receive from the Impacted Project Areas:
a.Decreased demand for hospitality and commercial space that has delayed the
development of new projects and increased vacancy rates in existing projects due
to market and financial forces.
b.Significant increases in construction costs that have delayed the development of
new projects due to financial gaps.
c.Increased need to provide support for the mitigation of business loss due to
decreased revenues.
2.A two-year extension of the Impacted Project Areas’ project area funds collection periods
is needed for the purpose of carrying out the overall goals of the respective project area
plans. The additional increment will be utilized to provide for immediate assistance, short-
term recovery efforts, and long-term investment for respective project area benefits. The
17
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Agency further intends to balance the overall amount of funds across the priorities while
achieving the Agency goals for equity, sustainability, increasing the tax base, providing a
return on investment, and supporting opportunities for those residents who have been hit
hardest by the COVID-19 emergency.
3.The tax year on which the extension period will end for each Impacted Project Area is as
follows:
Impacted Project Area Extension Period End Date
Central Business District 2042
North Temple 2038
Depot District 2024
Granary District 2025
4.No later than November 1, 2021, the Agency shall mail or electronically submit a copy of
this Resolution to the State Tax Commission, the State Board of Education, the State
Auditor, the Salt Lake County Auditor, and each taxing entity affected by the Agency’s
collection of tax increment from the Impacted Project Areas.
Passed by the Board of Directors of the Redevelopment Agency of Salt Lake City, this
day of , 2021.
Ana Valdemoros, Board Chair
Transmitted to the Executive Director on .
The Executive Director:
does not request reconsideration
requests reconsideration at the next regular Agency Board meeting
Erin Mendenhall, Executive Director
Approved as to form:
Salt Lake City Attorney’s Office
_____________________________________
Attest:
Salt Lake City Recorder’s Office
12th October
Allison Parks (Oct 14, 2021 15:58 MDT)
Ana Valdemoros (Oct 19, 2021 14:03 MDT)
Oct 19, 2021
Lisa Shaffer (Oct 21, 2021 09:44 MDT)
Cindy Trishman (Oct 25, 2021 11:50 MDT)
RDA Resolution 17 of 2021 - Project Area
Extension for Central Business, North Temple,
Depot, and Granary
Final Audit Report 2021-10-25
Created:2021-10-14
By:Thais Stewart (thais.stewart@slcgov.com)
Status:Signed
Transaction ID:CBJCHBCAABAA3puccaSPuuz3RwKTBOek7toCILCMi7qQ
"RDA Resolution 17 of 2021 - Project Area Extension for Central
Business, North Temple, Depot, and Granary" History
Document created by Thais Stewart (thais.stewart@slcgov.com)
2021-10-14 - 9:45:14 PM GMT
Document emailed to Allison Parks (allison.parks@slcgov.com) for signature
2021-10-14 - 9:52:50 PM GMT
Email viewed by Allison Parks (allison.parks@slcgov.com)
2021-10-14 - 9:58:15 PM GMT
Document e-signed by Allison Parks (allison.parks@slcgov.com)
Signature Date: 2021-10-14 - 9:58:29 PM GMT - Time Source: server
Document emailed to Ana Valdemoros (ana.valdemoros@slcgov.com) for signature
2021-10-14 - 9:58:31 PM GMT
Email viewed by Ana Valdemoros (ana.valdemoros@slcgov.com)
2021-10-14 - 10:32:12 PM GMT
Thais Stewart (thais.stewart@slcgov.com) replaced signer ana.valdemoros@slcgov.com with
analia.valdemoros@slcgov.com
2021-10-19 - 7:25:24 PM GMT
Document emailed to analia.valdemoros@slcgov.com for signature
2021-10-19 - 7:25:24 PM GMT
Document e-signed by Ana Valdemoros (ana.valdemoros@slcgov.com)
Signature Date: 2021-10-19 - 8:03:10 PM GMT - Time Source: server
Document emailed to Erin Mendenhall (erin.mendenhall@slcgov.com) for signature
2021-10-19 - 8:03:12 PM GMT
Email viewed by Erin Mendenhall (erin.mendenhall@slcgov.com)
2021-10-19 - 9:19:49 PM GMT
Thais Stewart (thais.stewart@slcgov.com) replaced signer Erin Mendenhall (erin.mendenhall@slcgov.com) with
Lisa Shaffer (lisa.shaffer@slcgov.com)
2021-10-21 - 3:40:02 PM GMT
Document emailed to Lisa Shaffer (lisa.shaffer@slcgov.com) for signature
2021-10-21 - 3:40:02 PM GMT
Email viewed by Lisa Shaffer (lisa.shaffer@slcgov.com)
2021-10-21 - 3:43:56 PM GMT
Document e-signed by Lisa Shaffer (lisa.shaffer@slcgov.com)
Signature Date: 2021-10-21 - 3:44:17 PM GMT - Time Source: server
Document emailed to Cindy Trishman (cindy.trishman@slcgov.com) for signature
2021-10-21 - 3:44:18 PM GMT
Document e-signed by Cindy Trishman (cindy.trishman@slcgov.com)
Signature Date: 2021-10-25 - 5:50:31 PM GMT - Time Source: server
Agreement completed.
2021-10-25 - 5:50:31 PM GMT