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REDEVELOPMENT AGENCY OF SALT LAKE CITY
RESOLUTION NO. R-1-2018
Northwest Quadrant Community Reinvestment Area Plans
RESOLUTION OF THE BOARD OF DIRECTORS OF THE REDEVELOPMENT AGENCY OF SALT LAKE CITY ADOPTING A NORTHWEST QUADRANT COMMUNITY REINVESTMENT AREA PLAN
WHEREAS, the Redevelopment Agency of Salt Lake City (“RDA”) was created to transact the business and exercise the powers provided for in the Utah Title 17C Community Reinvestment Agency Act (“the Act”).
WHEREAS, on July 12, 2016, the RDA Board of Directors (“RDA Board”) adopted Resolution No. 772.02, designating the geographic area referred to as Proposed Project Area as a survey area (“Survey Area”) to study whether project area development is feasible within the Survey Area.
WHEREAS, on August 16, 2016, Salt Lake City adopted the Northwest Quadrant Master Plan (the “Community General Plan”).
WHEREAS, the RDA has determined that project area development is feasible within a modified boundary within the Survey Area (“Project Area”), a boundary description of which is attached hereto as Exhibit A.
WHEREAS, the RDA has prepared the Northwest Quadrant Community Reinvestment Area Plan (“CRA Plan”) that is attached hereto as Exhibit B.
WHEREAS, the RDA’s purpose and intent with respect to the Project Area is to utilize tax increment funds derived from the Project Area to facilitate community reinvestment activities as further described in the CRA Plan.
WHEREAS, the RDA Board of Directors desires to approve and adopt the CRA Plan.
NOW, THEREFORE, BE IT RESOLVED, THE BOARD OF DIRECTORS OF THE REDEVELOPMENT AGENCY OF SALT LAKE CITY MAKES THE FOLLOWING FINDINGS AND DETERMINATIONS REGARDING THE CRA PLAN IN ACCORDANCE WITH 17C-5-108 OF THE ACT:
1. Serves a public purpose;
2. Produces a public benefit as demonstrated by the analysis described in Subsection 17C-5-105(2);
3. Is economically sound and feasible;
4. Conforms to the Community General Plan; and
5. Promotes the public peace, health, safety, and welfare of Salt Lake City.
Passed by the Board of Directors of the Redevelopment Agency of Salt Lake City, this 9th day of January, 2018.