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REDEVELOPMENT AGENCY OF SALT LAKE CITY
RESOLUTION NO. R-12-2017
150 South 5600 West, Salt Lake City: Single Property Owner CRA November 14, 2017
RESOLUTION OF THE BOARD OF DIRECTORS OF THE REDEVELOPMENT AGENCY OF SALT LAKE CITY AUTHORIZING THE PREPARATION OF A DRAFT COMMUNITY REINVESTMENT PROJECT AREA PLAN FOR THE PROPOSED SINGLE PROPERTY OWNER PROJECT AREA LOCATED AT 150 SOUTH 5600 WEST, SALT LAKE CITY, UTAH
WHEREAS, the Redevelopment Agency of Salt Lake City (the “RDA”) proposes to create a single property owner Community Reinvestment Project Area (“CRA”) within an area described on Exhibit A attached hereto (the “Proposed Project Area”), that is generally from 100 South to 150 South and from 5600 West to 5700 West, consisting of approximately 63 acres.
WHEREAS, creation of the Proposed Project Area is consistent with the City’s Northwest Quadrant Plan's goals of: supporting quality jobs that include non-polluting and environmentally-conscious high-tech and manufacturing sectors; encouraging a resilient and diversified economy; building a consistent industrial development pattern south of I-80; and, providing services and infrastructure that is similar to other parts of Salt Lake City.
WHEREAS, in June 2017, the Board approved Resolution R-5-2017, adopting an RDA Tax Increment Reimbursement Program Policy (“Policy”), which was amended with a tentatively adopted resolution on October 10, 2017.
WHEREAS, the Policy allows the RDA to create a single property owner CRA for an existing Salt Lake City property owner or business (“Local Business”) if the Local Business owner proposes a project that achieves the City’s economic development goals for business retention and expansion.
WHEREAS, under Section 4.3 of the Policy, in order to be considered for the creation of a single property owner CRA, the property owner must make an application to the RDA, hold small group meetings with the Board to provide an overview of the proposed project and anticipated economic and public benefits.
WHEREAS, the property owner has complied with these initial steps, and the Board scheduled a public meeting on November 14, 2017 to discuss the proposed project.
WHEREAS, upon presentation of the general overview of the proposed project, the Board intends to adopt this resolution initiating the single property owner CRA project area plan.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE REDEVELOPMENT AGENCY OF SALT LAKE CITY, that, in accordance with Section 17C-5-103 of the Limited Purpose Local Government Entities - Community Reinvestment Agency Act (the “Act”), the Board hereby authorizes the preparation of a draft community reinvestment project area plan for the Proposed Project Area.
BE IT FURTHER RESOLVED, that pursuant to Utah Code 17C-5-103(c), the Board determines that the Proposed Project Area requires a study to determine whether project area development is feasible.
BE IT FURTHER RESOLVED, that the Board hereby authorizes and directs the Executive Director and the Chief Operating Officer of the Agency to take all such further action as is necessary or appropriate in accordance with Section 17C-4-5 of the Act in connection with the evaluation and analysis of the possible costs and benefits of the adoption of such a project area plan and to conduct any examination, investigation, or negotiation regarding the proposed community reinvestment project area that the Agency considers appropriate.
Passed by the Board of Directors of the Redevelopment Agency of Salt Lake City, this 14th day of November, 2017.