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REDEVELOPMENT AGENCY OF SALT LAKE CITY
RESOLUTION NO. R-29-2018
912 and 916 Jefferson Street
RESOLUTION OF THE BOARD OF DIRECTORS OF THE REDEVELOPMENT AGENCY OF SALT LAKE CITY APPROVING THE SALES PRICE OF RDA-OWNED PROPERTY LOCATED AT 912 AND 916 Jefferson Street IN THE WEST TEMPLE GATEWAY PROJECT AREA.
WHEREAS, the Redevelopment Agency of Salt Lake City (“RDA”) desires to dispose of real property located at 912 and 916 Jefferson Street (the “Property”) for the purpose of redeveloping it in a manner consistent with the RDA’s West Temple Gateway Project Area Plan.
WHEREAS, the Central Ninth Development Partners, L.L.C. (“Central Ninth”) intends to acquire the Property to construct (1) affordable and workforce housing, and (2) a small-scale, mixed-use development that implements the RDA’s vision for the Central 9th neighborhood and will bring new jobs to the area (“Project”).
WHEREAS, the value of the Property is $385,000.
WHEREAS, Central Ninth requests a complete write-down of the Property value in order to develop the Project
NOW THEREFORE, BE IT RESOLVED by the Board of Directors of the Redevelopment Agency of Salt Lake City that the Board hereby authorizes the a complete write-down of the Property value and authorizes the disposition of the Property to Central Ninth for $00.00 so long as Central Ninth develops the Project pursuant to the terms of an agreement with the RDA, as recommended by the City Attorney’s office.
Passed by the Board of Directors of the Redevelopment Agency of Salt Lake City, this 21st day of August, 2018.