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REDEVELOPMENT AGENCY OF SALT LAKE CITY
RESOLUTION NO. R-25-2018
State Street Community Reinvestment Area Plan
RESOLUTION OF THE BOARD OF DIRECTORS OF THE REDEVELOPMENT AGENCY OF SALT LAKE CITY ADOPTING THE STATE STREET 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 Utah Code 17C, the Community Reinvestment Agency Act (the “Act”).
WHEREAS, on 4-12-2016 the RDA Board of Directors (“RDA Board”) adopted Resolution No. 16 designating a survey area (“Survey Area”) to study whether project area development is feasible within the Survey Area.
WHEREAS, the RDA has determined that project area development is feasible within the Survey Area (“Project Area”), a boundary description of which is attached hereto as Exhibit A.
WHEREAS, the RDA has prepared the State Street Community Reinvestment Area Plan (“CRA Plan”), which 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:
The RDA Board approves the CRA Plan and finds that the creation of the Project Area:
1. Serves a public purpose;
2. Produces a public benefit as demonstrated by the analysis described in Subsection 17C-5-105(12);
3. Is economically sound and feasible;
4. Conforms to Salt Lake City’s applicable general plan for the area; 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 21st day of August, 2018.