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A
Sorry
about
that
welcome
everybody
we
have.
We
have
everyone
which
is
exciting.
We
are
going
to
get
started
and
welcome
to
our
RDA
meeting
for
today,
December
10th
2019.
It
is
the
last
RDA
meeting
of
the
year.
Who
knows,
we
might
start
singing
I
ran
up
the
stairs.
Okay,
we'll
start
with
general
comments
to
the
board.
If
anyone
has
anything,
they
would
like
to
say
to
the
board
about
anything
at
all.
You
have
two
minutes
to
speak.
A
B
A
You
want
to
speak,
oh
I'm,
sorry,
apologies!
It's
on
the
back
got
it.
In
that
case,
we
have
no
other
cards,
nobody
who
wants
to
say
anything
to
the
council,
so
we
are
going
to
move
on
to
our
da
bizness
I
apologize
for
this
I
am
switching
around
the
agenda
a
little
bit.
We
have
a
council
member
or
board
member
who
needs
to
leave
so
I've
wanted
all
of
us
to
be
here
for
this
agenda
item,
and
that
is
agenda.
A
Item
number
five,
which
is
a
resolution
for
block
67
North
tax,
increment
reimbursement
agreement,
we'll
have
Alison,
Danni
and
Corrine
here
at
the
table.
I've
also
noticed
that
we
have
a
couple
of
people:
brent
is
from
our
japanese-american
community
and
the
developer.
Ryan
Richie
is
also
here
for
board
members,
Awareness
Week.
A
E
Just
got
here,
I
think
both
the
cat
I
think
the
board
members
are
well
aware
of
of
this
project
that
you've
been
working
on
for
about
18
months.
As
you
know,
just
as
a
recap
and
Salt
Lake
City
involvement
in
block
67
and
block
67
North
in
particular,
was
requested
by
Salt
Lake
County.
This
is
something
that
Salt
Lake
City
did
not
seek,
but
they
are
cooperating
with
the
county
and
with
the
project
you
are
cooperating
because
of
this
request
from
the
county.
C
The
richer
groups
proposed
west
quarter,
project
which
is
taking
place
on
blocks.
67
is
mixed-use
project
project,
with
roughly
198
million
in
private
investment
in
the
phase
one
alone,
and
that
project
aligns
with
several
the
downtown
master
plans
goals,
in
particular,
increased
density,
downtown,
mid
block
walkways
funded
by
agency
projects,
a
creation
of
sports
and
entertainment
area
in
parking
for
Vivint
and
surrounding
uses
in
the
West.
Carter
project
has
two
phases
as
depicted
here.
With
this
map
and
phase
one
takes
place
within
the
CRA
and
the
north
side
of
the
block.
C
Phase
two
is
on
the
south
side
and
not
within
the
CRA,
and
the
chart
breaks
down
the
details
by
phase
that
are
included
within
our
tax
increment
reimbursement
agreement
and,
as
you
can
see,
the
overall
project
has
residential
retail
hotel
office
public
parking
in
a
mid
block,
walkway
and
phase.
One
is
scheduled
to
begin
by
the
end
of
this
year
and
be
completed
by
April
2020,
with
phase
two
starting
immediately
after
phase
one
and
taking
about
three
to
four
years
and.
D
Then
won't
get
into
a
lot
of
detail
in
this
other
than
we
just
wanted
to
show.
This
is
the
budget
for
the
overall
project
area,
so
today
we're
speaking
specifically
to
the
15
million
dollars
that
is
to
be
reimbursed
through
the
developer
back
to
the
county
for
the
parking
structure,
but
the
overall
project
area
budget
is
twenty
million
dollars
and
that
is
to
include
the
elements
of
administration
and
operations
as
well
as
10%
to
affordable
housing
and
the
infrastructure
improvements
both
respectively.
So
the
overall
project
area
budget
is
larger.
C
There
were
several
several
fundamental
conditions
required
by
the
board
for
participation,
which
we
have
incorporated
into
the
Vitara
and
they're
further
referenced
within
the
memo
and
your
term
sheet
in
the
packet.
This
includes
the
mid-block
walkway,
the
public
parking
stalls,
the
Phase
two
guarantee
in
considerations
for
Japantown.
We
broke
the
Japantown
considerations
into
three
categories
and
they
were
agreed
upon
for
the
facilitation
process.
The
design
improvements.
These
are
essentially
addressing
the
japanese-american
community's
concerns
that
the
original
design
of
the
project
was
a
back-of-house
on
100
South.
C
D
The
specific
terms
of
the
reimbursement
agreement
itself:
it
is
a
20-year
term
which
coincides
with
the
life
of
the
project
area.
The
maximum
cap
reimbursement
to
the
county
is
the
15
million
dollars.
We
have
made
it
clear
that
the
increment
used
to
make
that
reimbursement
is
only
generated
off
the
two
parcels
that
the
developer
owns,
not
the
other
properties
within
the
project
area.
D
The
agency
is
not
responsible
for
any
shortfall
in
increment,
whatever
the
project
generates
is
what
we
reimburse
and-
and
that
is
as
far
as
our
obligation
goes,
we
also
have
not
made
any
commitments
or
obligations
for
Phase
two,
you
recall
that's
part
of
our
CBD
project
area.
That
would
be
a
different
process
to
request
any
funding,
and
then
that
would
come
back
to
the
board
as
well,
and
then,
additionally,
the
requirement
or
the
reimbursement
agreement
has
requirements
in
it
that
are
tied
to
the
public
benefits
that
are
guaranteed
both
within
the
parking
structure
itself.
D
The
mid-block
connection,
as
well
as
the
benefits
that
the
developers
incorporating
as
part
of
their
project
for
the
benefit
of
the
japanese-american
community,
as
well
as
clawback
provisions
within
that
reimbursement
and
how
much
the
developer
gets.
Those
are
tied
to
the
guarantee
for
building
phase
two
and
then
finally,
on
an
annual
basis.
The
developers
required
to
verify
and
report
on
the
number
of
parking
stalls
and
that
they
are
still
in
fact
being
allocated
and
set
aside
for
a
public
benefit.
Public
use.
Sorry
and.
C
Finally,
we
presented
the
Terra
to
the
RTA
finance
committee
and
they
had
similar
concerns
to
this
board
in
RAC,
which
was
how
to
guarantee
phase
two
and
the
parkings.
If
the
parking
stalls
is
a
public
benefit,
really
commiserate
with
the
15
million
pass
through,
and
they
felt
that
the
clawback
provisions
that
we
did
include
in
natira
and
the
additional
public
benefit,
including
the
japantown
considerations.
C
You
know
in
also
developing
a
traditionally
underlies
utilized
block
in
the
affordable
housing.
Set-Aside
made
the
project
worth
it
and
they
recommended
approval
that
six
to
zero
and
in
closing
also
as
Amy
mentioned,
we
have
representatives
from
the
Ritchie
group
as
well
as
the
county
and
unfortunately
the
Janie
Umemoto
is
gonna,
be
here.
She
couldn't
be
here
till
2:00,
so
I
don't
think
she'll
be
available
for
comment,
but
we
can
answer
any
questions
that
you
have
or
if
you
wish
to
speak
to
those
representatives
as
well.
Thank.
A
B
So
my
concern
from
the
beginning,
or
one
of
my
main
concerns
from
the
beginning,
has
been
making
sure
that
japantown
is
protected
and
that
we
protect
that
that
asset
of
the
japanese-american
community
in
our
city.
So
what
I
guess,
if
you
can
explain
sort
of
in
in
very
in
layman's
terms,
how
we?
How
are
we
protecting
them
and
their
interest
in
this
project
and
the
public
benefits
that
would
go
towards
bettering
that
place
great.
C
So
we
basically
broke
down
on
the
items
that
were
identified
throughout
the
facilitation
process
into
three
different
groups,
and
those
were
so
they
could
be
applied
legally
is
most
effectively
as
possible.
The
design
improvements
as
I
had
mentioned,
were
essentially
on
the
japanese-american.
Community's
concerns
were
that
the
the
building
was
designed
back-of-house
to
100
South.
C
So
through
the
facilitation
process,
the
Ricci
group
in
the
community
identified
ways
that
they
could
really
improve
the
design
essentially
and
there's
six
of
those
within
your
packet
that
are
included
and
the
way
they're
going
to
be
implemented
is
with
the
good
faith
conditions.
Excuse
me
with
a
covenant
to
cooperate.
So
essentially
we
didn't
want
that
to
be
a
legal
agreement
between
the
community
in
the
Ricci
group.
C
We
wanted
it
to
be
within
our
agreement
so
that
japanese-american
community
didn't
have
to
sign
it,
but
it
was
recorded
on
the
land
and
Ricci
group's
property
so
that
it
runs
with
the
land
and
it's
really
their
responsibility
to
execute
the
second
part
of
the
good-faith
condition.
So
these
are
the
good
neighbor
conditions.
They'll
schedule
trash
pickup.
You
know
temporarily
relocate
deliveries
during
festivals.
These
are
little
bit
harder
to
enforce
legally
but
they're
included,
and
these
also
recorded
as
part
of
that
covenant.
C
So
that's
how
those
two
are
taken
care
of,
and
then
the
third
piece.
They
are
the
adjacent
property
improvements.
So
originally
in
the
facilitation
process,
the
Ricci
group
identified
that
if
there
could
potentially
be
a
12-foot
wall
which
we
didn't
want
to
happen
so
that
the
japanese-american
community
could
connect
to
the
to
the
development
and
they
wanted
to
develop
their
own
property
in
the
future.
They
could
do
so.
C
So
we've
made
it
requirement
that
the
Ricci
group
doesn't
build
the
wall
and
essentially
also
offers
the
opportunity
to
regrade
those
Lots,
for
you
know
future
connection
or
essentially
so
that
one
is
an
option,
but
we
gave
them
more
time
to
come
to
terms
with
that,
so
that
they
have
until
2026
to
do
those
improvements,
and
if
not,
we
have
a
clawback
provision
where
we
can
retain
250,000
and
tax
increment
to
invest
into
100
South.
The
streetscape.
B
Okay
and
then
just
in
general,
as
was
a
concern
for
RAC
and
I'm,
so
you
may
have
answered
this
right
when
I
stepped
out.
But
what
other
ways
are
we
making
sure
that
we're
protecting
the
public
benefit
in
this
project,
because
I
I
know
that
you
know
it
is
gonna,
be
a
significant
increase
in
taxes
for
the
city,
but
when
we're
giving
away
RDA
money,
I
want
to
make
sure
that
we're
protecting
that
investment.
So
what
are
our
legal
protections
so.
C
The
mid-back
walkway
essentially
is
going
to
take
place
in
phase
one
and
phase
two
sorry,
this
map
is
better.
You
can
see
it
a
lot
better
in
this
one.
So
essentially,
we
have
included
that
within
the
tier
that,
if
it
isn't
built
or
isn't
represented
in
plans
and
permits
and
the
stop
construction,
we
have
the
right
to
seize
payment
on
the
tax
increment
back
to
the
county.
So
what
both
in
phase
one
and
phase
two
we
have
the
opportunity
with
public
parking
stalls,
it's
very
similar.
C
Essentially,
if
those
aren't
incorporated,
we
also
defined
what
public
parking
means.
We
have
the
ability
to
stop
pay
me
on
the
tax
increment
and
then
Phase
two,
we
implemented
a
cap
on
phase
one,
so
we
said
three
million
dollars
is
commensurate
with
the
public
benefit,
we're
getting
for
that
phase,
we'll
only
pay
up
to
three
million
or
you
have
till
2026
essentially,
and
if
you
prove
by
certain
requirements
that
phase
two
is
going
to
start.
We
will
then
continue
to
pay
up
to
the
fifteen
and
then
within
Phase
two.
C
F
F
B
D
That
I
believe
tied
to
public
parking
or
maintaining
public
parking,
and
so
that's
essentially
just
what
the
extent
of
our
clawback
provision
and
requirements
would
be
to
go
beyond
that.
I
think
that
would
be
a
deal
point
that
the
county
probably
would
have
needed
to
negotiate
early
on.
If
that
was
to
be
an
ongoing
like
a
deed
restriction
placed
on
the
property.
D
Affordable
housing
we
either
defer
to
what
the
term
is
if
they
have
tax
credits
and
if
that's
a
99-year
or
for
the
agency,
we
typically
prefer
a
minimum
of
50.
We
have
done
some
that
are
down
to
30
if
it's
more
of
a
market
rate
type
housing
project
that
we're
infusing,
affordability
in
but
50,
is
where
we
would
prefer
to
come
in
at
okay.
F
I
do
have
a
concern
about
that.
Madam
chair,
the
20-year
contract
seems
problematic
to
me
personally.
If
we're
gonna
rely
on
this
for
a
public
parking
going
forward
by
eliminating
surface
Lots
in
other
parts
like
that
and
rely
on
this
20
years
may
not
be
sufficient
in
my
view,
but
I'm
not
sure
what
we
can
do
about
it
at
this
point.
So
the
second
question
just
came
up
actually
in
a
comment
about
tying.
F
C
Within
the
memo
on
page
9,
we
make
a
note
that
under
adjacent
property
improvements
that
the
Richard
group
has
tied
their
proposals
to
complete
the
adjacent
property
improvements
to
request
that
the
churches
allow
what
they're
calling
a
soil
and
nails
agreement
which
is
for
shoring
and
Korean
air
access.
The
reason
we
included.
That
was
because
it
was
our
understanding,
as
well
as
the
churches,
that
the
adjacent
property
proof
improvements
were
on
the
table
as
a
standalone
item,
not
in
exchange
for
the
agreement,
but
in
the
richer
groups
available.
C
D
The
timeline
for
improvements
to
100
South
are
essentially
what
will
come
out
of
the
consultant
study.
Was
we
create
that
menu
of
improvements
that
can
be
done?
What
the
costs
are,
what
the
maintenance
costs
are
and
kind
of
what
the
the
priority
would
be
moving
forward,
and
so
we
haven't
set
that
timeline.
C
It's
a
pretty
big
process,
public
engagement
in
three
final
designs,
and
then
we
would
line
it
up
with
the
potential
for
CIP
funding
or
our
tax
increment
on
the
ten
percent
set
aside
in
the
working
group
will
continue
working
throughout
that
and
our
idea
is
to
empower
them
to
start
selecting
which
improvements
they
want
to
see
first
and
identify
and
go
after
funding.
Accordingly,
with.
D
No,
that's
not
anything
that
the
developer
would
necessarily
have
a
part
in
or
be
required.
As
we
said,
we
separated
that
from
the
requirements
of
the
development
in
the
project
itself
and
treated
that
as
something
that
we
would
just
provide
the
options
and
the
design
and
the
information
so
that
they
could
then,
as
a
stakeholder
group,
start
seeking
opportunities
for
funding
and
figure
out
what
their
priorities
are.
As.
F
D
F
C
F
D
We
set
it
up
to
where
the
developer
and
the
japanese-american
property
owners
could
negotiate
a
separate
agreement,
and
then,
within
that
agreement
they
would
outline
what
the
requirements
are
and
the
protections
for
both
parties.
If
that
doesn't
happen
or
they
choose
not
to,
then
we
have
set
it
up
to
where
we
have
that
250,000
that
we
can
then
make
available
specifically
for
either
that
property
or
improvements
to
100
South.
C
The
reason
we
wanted
that
clawback
was
because
each
church
has
their
own
board
and
the
representatives
that
we
work
with.
They
represent
their
board,
they
have
their
own
process
and
we
wanted
to
make
sure
that
they
had
the
ability
to
say
yes
or
no
separate
from
what
we're
doing
with
the
hundred
South
Street
streetscapes
and.
C
We're
looking
at
it
as
benefits
for
Japan
towns,
so
if
that
250
doesn't
go
directly
into
their
property,
is
going
into
the
betterment
and
the
revitalization
of
Japantown
overall,
and
so
that's
why
we
have
the
clawback.
We
give
them
ample
time
to
come
to
terms
with
the
Richie
group
if
one
of
the
churches,
or
both
of
the
churches
decide
not
to.
We
have
the
ability
to
retain
the
increment
and
put
it
into
the
japantown
streetscape,
and
we.
H
Chair,
thank
you
so
this
is.
This
is
a
project
that
normally
I
think
us
as
an
RDA
board
early
as
an
RDA
board
would
be.
You
know,
really
really
excited
about.
You
know
without
any
sort
of
hesitation,
because
it
really
is
a
good
project.
It
really
is
going
to
do
a
lot
for
the
city
and
especially
that
part
of
the
city
in
terms
of
redevelopment,
so
I
do
look
forward
to
you,
know
the
development
as
as
it
progresses,
and
do
believe
that
it
is
going
to
be
a
net
benefit
for
the
city.
H
It's
it's
frustrating
the
way
that
this
came
to
us.
You
know
this
is
in
the
eight
years
that
I've
been
on
the
RDA
board.
We'd
never
had
a
project
that
has
been
like
this.
That
you
know
has
been
where
we've
we've
essentially
been
told
by
this
by
the
state
and
the
county.
This
is
what
you
know.
What
you
have
to
do.
This
is
how
it's
going
to
have
to
work.
That
being
said,
I
think
that
I
want
to
thank
RDA
staff
for
working
with
the
developer.
H
I
want
to
thank
Ryan,
Richie
for
and
and
and
your
partner's
for
working
with,
the
RDA
staff.
I
especially
want
to
thank
the
Japanese
community.
For
you
know,
continuing
to
push
working
with
the
developer
is
working
with
the
RDA
this
this
board,
during
the
entire
time
that
we've
been
discussing
this
and
negotiating
this
have
never
forgotten
Japantown.
H
We
have
we've
looked
to
make
this
project
as
as
beneficial
to
the
japanese-american
community,
as
we
possibly
can-
and
you
know
it
is
something
that
I'm
very,
very
happy
to
finally
close
the
door
on
and
move
forward
with,
so
that
we
can,
we
can
start
actually
seeing
the
benefit
of
this
project
moving
forward.
So,
madam
chair,
with
that
I
move,
the
board
approved
the
resolution
authorizing
an
execution
of
black
sixty
seven
north
tax,
increment
reimbursement
agreement,
I.
A
Have
a
motion
by
board
member
Luke
a
second
by
board
member
Rogers
there.
Any
discussion,
I
am
going
to
say
something
before
I
call
for
a
vote.
I
agree
with
everything.
Charlie
said:
I
think
the
Japanese
American
community
in
Japan
town
and
the
Ritchie
group
for
coming
together
and
working
hard
on
negotiating
this,
but,
most
importantly,
I
want
to
give
a
huge
shout
out
and
a
huge
thanks
to
the
RTA
staff,
particularly
Corrine
and
Katie
Lewis.
A
Our
attorney
I
know
you
guys
have
put
in
a
lot
of
hard
work
and
passion
and
compassion
into
this
project
in
working
with
these
with
our
communities
and
really
trying
to
create
something
that
will
be
a
benefit
to
Salt
Lake
and
I
admire
the
two
of
you
for
all
of
the
hard
work
that
you've
done,
especially
over
these
last
few
months.
So
thank
you
for
that
and
with
that
I'll
call
for
a
vote.
All
those
in
favor
aye
all
right.
B
A
A
A
B
I
A
I
Wonderful,
as
Mary
Beth
said,
my
name
is
Mike
Mickelson
I'm,
an
audit
partner
with
I'd,
Bailey
and
I,
was
the
engagement
partner
for
the
RDA
audit.
We
issued
our
report
November
19th
and
delivered
it
shortly
after.
Hopefully,
you
have
copies
in
your
board.
Packets
and
you've
been
able
to
look
at
that.
I
If
you
wanted
to,
we
also
issued
an
another
letter,
that's
required
by
audit
standards
when
there's
an
entity
like
the
City
Council
or
the
RDA
board,
that's
charged
with
governance
and
so
I'll
go
over
our
auditor's
report
briefly
and
then
maybe
a
couple
highlights
in
that
board
communication
letter
when
we
do
an
audit,
there
are
some
limitations.
Our
out
standards
require
that
we
do
enough
work
and
in
enough
procedures
to
provide
reasonable
assurance.
So
we
don't
provide
absolute
assurance.
I
There
are
some
things
that
go
into
that
when
we
begin
our
audit.
We
begin
by
assessing
risk
on
the
different
audit
areas,
financial
statement
line
items
transaction
cycles,
those
types
of
things.
In
addition
to
assessing
risk,
we
gain
an
understanding
and
document
our
understanding
in
our
work
papers
of
the
internal
controls
of
the
organization,
and
that
also
helps
with
our
risk
assessment,
and
then
we
establish
a
materiality
threshold.
I
So
we
do
that
in
planning,
that's
laid
out
in
the
auditor's
responsibilities
section
of
our
auditor's
report,
but
an
area.
An
audit
area
that
has
a
higher
risk
in
a
higher
materiality
is
an
area.
We're
gonna,
spend
more
time
and
effort
in
and
do
more
audit
procedures
in
than
an
audit
area
that
has
a
lower
materiality
and
a
lower
risk.
And
so
that's
how
we
kind
of
divide
up
the
time
we
spend
in
an
audit
in
the
different
audit
areas.
I
We
perform
those
procedures
and
gather
our
audit
evidence
and
determine
what
kind
of
audit
auditors
opinion
we
can
issue.
So
that's
where
there's
some
limitations,
because
we're
doing
things
on
a
test
basis
in
a
sample
basis.
Those
higher
and
higher
material
and
riskier
areas
are
going
to
have
larger
samples
if
we
sample
in
a
less
risky
or
a
less
material
area.
They're
gonna
have
a
much
smaller
sample
and
so
that
that's
part
of
the
reason
there
are
some
inherent
limitations
and
why
we
were
providing
a
reasonable
assurance
instead
of
absolute
assurance.
I
After
we
performed
our
audit
procedures
for
the
RTA,
we
issued
an
unmodified
opinion,
so
that
is
the
clean
opinion.
That's
the
word.
People
like
to
hear
a
clean
opinion
that
states
that,
in
our
opinion,
the
financial
statements
are
materially
are
fairly
stated
in
all
material
respects
in
relation
to
generally
accepted
accounting
principles.
I
I
There's
a
two
levels:
they're
required
supplementary
information
is
required
by
the
governmental,
Accounting
Standards
Board,
to
be
included
with
your
financial
statements.
That
includes
the
management's
discussion
and
analysis
that
follows
our
audit
opinion
and
precedes
the
financial
statements,
and
there
are
a
couple
of
pension
schedules
immediately.
Following
the
footnotes
that
it
also
requires
supplementary
information,
we
do
not
provide
any
assurance
on
that.
I
We
do
some
limited
procedures
in
reading
it
and
making
sure
it's
consistent
with
our
understanding
of
everything
that
we
documented
during
our
audit
procedures
and
then
those
are
included
but
they're,
not
a
pined
on
there's.
Some
supplementary
schedules
in
the
very
back
for
additional
analysis
provided
by
the
city.
I
I
I
was
probably
added
once
at
the
request
of
the
council
or
the
desire
of
the
RDA
management,
to
be
able
to
demonstrate
certain
things
to
the
council
or
to
the
board
that
we
offer
an
in
relation
opinion,
which
means
that
we've
performed
some
limited
procedures
on
that
to
tie
it
out
to
the
financial
statements
that
we've
audited
to
tie
it
out
to
any
other
audit
documentation
we
obtained
during
our
audit,
so
that
we
can
say
that
those
statements
are.
Those
supplementary
schedules
are
fairly
stated
in
relation
to
the
financial
statements.
I
So
that
is
our
auditors
report
on
the
financial
statements
if
I
were
to
get
in,
but
I'll
move
quickly
into
the
letter,
because
the
letter
would
have
a
a
mention
of
any
findings
if
there
were
any
findings,
and
so
that
would
be.
The
next
step
is
to
report
to
you
that
we
didn't
have
findings
that
we
need
to
communicate
to
you
either
internal
control
or
compliance.
I
There
have
been
findings
in
the
RDA
statements.
It's
been
a
couple
of
years
since
we've
had
some,
but
there
is
a
period
of
turnover
and
accounting
staff
and
some
other
issues
that
cause
some
findings
and
I
just
want
to.
Let
you
know
that
those
were
remediated
in
prior
years
and
have
not
reared
their
head
again
this
year,
so
in
terms
of
internal
controls
and
are
gaining
an
understanding
of
that.
I
We
didn't
have
any
concerns
there
or
anything
to
report,
and
because
we
we
had
no
audit
adjustments
as
well
as
the
result
of
our
procedures
than
the
monthly
or
periodic
statements
that
you've
reviewed
as
part
of
your
oversight,
should
be
very
similar
to
what's
in
the
auditor's
report.
There
might
be
some
differences
in
presentation
related
to
generally
accepted
accounting
principles
from
what
you've
reviewed,
but
they
should
reconcile
back
without
any
audit
adjustments.
So
your
oversight
responsibilities,
who
there
aren't
any
adjustments
to
that.
I
I
I
How
much
of
those
are
you
going
to
collect,
for
example,
the
one
that
we
think
is
most
significant
and
that's
because
of
its
subjectivity
in
estimation,
is
the
net
pension
liability,
so
Utah
retirement
systems
calculates
the
net
pension
liability
for
all
of
the
governments
that
participate
in
that
system
and
they
hire
actuaries
to
help
them
with
that.
So
there
are
a
number
of
actuarial
assumptions
that
go
into
developing
that
pension
liability.
I
Then
Utah
retirement
systems
allocates
that,
and
so
they
use
some
estimates
that
are
less
objective
in
the
allocation,
but
still
estimates
and
the
city
receives
their
allocation
and
then
once
the
city
receives
that
the
city
makes
an
allocation
among
the
departments
in
component
units
and
again
I
think
that's
a
little
bit
less
objective
than
the
actuarial
of
termination.
But
that's
what
goes
into
putting
that
number
in
the
financial
statements
and
that's
why
we
want
to
communicate
to
you
that
we
think
it's
a
significant
estimate.
I
A
A
A
A
A
K
Will
just
give
a
quick
bit
of
context:
the
RDA
board
back
in
2016
funded
a
study
of
the
Depot
district
public
market
feasibility
study
in
July
of
2017.
There
was
a
draft
that
came
before
the
board
for
presentation.
There
was
a
significant
error
in
the
calculations
which
was
later
corrected
and
in
March
the
following
year,
2018.
The
final
report
was
presented
to
the
board.
The
study
before
you
today
is
also
for
a
public
market,
but
at
the
state
fair
park.
K
This
was
funded
in
2017
as
part
of
the
annual
budget,
and
this
is
the
final
report
on
that
topic.
Outside
of
the
funding
for
those
two
studies
which
were
both
one
hundred
and
seventy-five
thousand
dollars.
There
is
no
other
money
currently
budgeted
for
a
public
market
on
the
city
side
or
the
RDA
side.
So
I
think
that
gives
you
a
groundwork
of
how
we
got
here.
L
L
So
following
public
outreach,
technical
analysis
of
the
site
in
an
economic
analysis
of
the
surrounding
area,
the
consultant
recommended
an
incremental
approach
to
phasing
in
a
public
market
at
the
fair
park
that
could
take
up
to
ten
years
and
I.
Think
with
that,
I
will
turn
it
over
to
them
to
talk
about
their
findings
from
the
study.
Wonderful.
M
I'm
fran
Prine,
as
karen
told
you,
we
were
hired
about
a
year
ago,
the
less
to
determine
if
there
is
sufficient
demand
and
supply
to
support
a
permanent
year-round
market
at
the
fair
park
without
subsidy
to
cut
to
the
kill
there.
The
people
are
there,
the
products
are
there
and
the
place
is
accessible
but
challenged.
M
M
M
The
market
should
be
activated
as
a
public
in
order
to
be
successful
and
the
best
approach
to
this
would
be.
Do
you
start
lighter
quicker,
cheaper
with
low
cost
activation
with
some
simple
placemaking
techniques
with
you
know,
with
which
the
Fair
Park
market
can
grow
organically
David's
now
going
to
talk
about
our
concept
and
our
strategy
to
approaching
a
public
market,
were
it
to
move
ahead
as.
N
You
have
almost
a
couple
dozen
markets
operating
in
Salt,
Lake
City
today,
so
there's
no
one
when
we
say
public
market
we'll
explain
to
you
what
the
concept
is
that
we
have
come
up
for
the
Fair
Park
initially
and
what
it
could
become
down
the
road,
so
the
the
the
mix
of
the
market,
the
the
vendors,
the
things
that
would
be
sold
there
would
be.
This
is
a
list.
I
don't
need
to
read
it,
but
it's
it's!
You
know
a
beer
garden.
It
would
have
public
spaces,
it
would
have
local
vendors.
N
It
would
really
feature
predominantly
but
not
exclusively,
vendors
from
the
Westside
who
we
met
with
and
there's
a
lot
of
talent
there,
as
you
may
also
know
that
the
the
downtown
market
is
a
super
popular,
but
it's
full.
So
there's
a
lot.
There's
a
growing
vendor
pool
in
Salt
Lake,
that's
looking
for
some
new
opportunities,
and
we
see
that
there's
some
very
interesting
like
cultural
and
culinary
maker
communities
in
Salt
Lake
that
could
that
have
expressed
a
desire
for
a
venue
and
they
like
the
they
like
the
Fair
Park
markets
are
very
visual.
N
It's
so
we've
just
thrown
some
some
pictures
up
there,
and
these
are
you
know
the
one
on
the
lower
right
is
in
Melbourne,
and
but
some
of
the
others
are
just
showed
the
lighter,
quicker,
cheaper
approach.
They
don't
have
to
be
really
built
out.
You
can
just
use
a
nice
public
space
activate
the
market
when
the
markets,
not
not
there.
It's
that
you
still
have
a
nice
public
space
that
can
be
used
for
other
things.
N
We
really
like
the
international
market
that
you
have
here,
but
it's
you
know
it's
just
it's
a
week
just
a
few
days
or
something
and
there's
a
lot
of
potential
themes
and
vendors
and
products
in
there
that
could
play
into
something
at
the
fair
park.
A
night
market
is
something
as
another
form
of
public
market
that
we're
seeing
get
some
real
traction
in
the
country.
You
know,
demographically
people
are
working
and
people
have
some
time
at
night
and
markets
are
night.
Markets
are
family-friendly,
they're,
not
something
that
goes
to
midnight.
N
O
Kara
mentioned
the
fact
that
one
of
the
first
things
we
looked
at
was
the
potential
for
a
developer,
driven
project
or
the
possibility
of
reusing
some
existing
space
at
the
fair
park
for
a
lighter,
quicker,
cheaper
approach.
So
I'm
just
going
to
talk
a
little
bit
about
those
two
approaches
for
a
second
and
talk
to
you
about
how
we
came
to
an
initial
conclusion.
So
originally
our
question
to
ourselves
was:
there
are
two
potential
sites
south
of
North
temple
within
property
owned
by
the
state.
Is
the
white
ball
field
site?
O
This
is
a
potential
development
property
that
could
potentially
be
used
for
a
kind
of
ground-up
activated
space.
It
would
have
to
be
built
in
a
single
phase
and
probably
in
partnership
with
a
development
project.
That
project
seemed
to
be
something
that
the
Fair
Park
and
the
state
we're
interested
in,
but
something
that
would
come
kind
of
in
time
and
would
probably
be
very
comparable
to
the
cost
that
we
were
looking
that
we're
seeing
with
other
kind
of
from
scratch
markets.
O
Ie
you'd
have
to
do
it
all
in
one
fell
swoop
and
there'd
be
a
pretty
significant
investment.
The
other
option
was
to
be
able
to
use
existing
space
within
the
Fair
Park
property,
and
these
include
a
series
of
barns
along
North
temple.
That
Fran
was
pointing
at
barns,
8,
9
and
10,
run
from
the
east
to
the
west
and
end
up
just
adjacent
to
the
gorge
River
site.
O
But
that
could
also
turn
over
when
the
Fair
Park
needed
to
run
other
events,
and
that
initially-
and
this
seemed
to
be
a
very
nice
way
of
being
able
to
test,
at
least
in
the
beginning,
the
potential
of
a
market
and
its
viability
on
this
site
without
significant
investment.
So
that
was
really
the
way
we
went
from
the
initial
activation
on.
We
looked
at
three
potential
phases
for
the
project.
The
first
one
was
really
just
getting
folks
in
facilities,
and
that
was
in
the
two
barns
to
the
eastburns.
O
Eight
and
nine,
with
this
lighter
quicker,
cheaper
approach
really
using
the
space
as
it
stands
today,
with
minor
modifications
to
both
facilities
and
sites,
allowing
for
some
great
entry
features
but
utilizing
parking
that
already
exists,
whether
on
the
site
or
adjacent
to
the
site
and
capitalizing
on
the
public
transportation
that
delivers
folks
right
to
the
front
door,
the
south,
but,
as
we
said
with
very
little,
need
for
significant
investment.
Although
there
are
some
things
that
need
to
happen,
and
that
would
be
the
opportunity,
then,
to
roll
into
two
additional
phases.
O
Potentially,
the
first
phase
would
be
years,
one
through
three
phasing
up
on
number
two
phase:
two
would
be
years:
four
through
nine
and
then
after
a
year,
ten
we'd
call
phase
three
and
we'll
walk
through
each
of
those
with
a
little
bit
of
detail.
So
you
can
see
what
they
look
like.
So
the
first
phase
of
the
project
and
I
apologize
that
it's
not
easy
to
show
will
show
you.
So
the
first
phase
of
project
really
is
in
Barnes,
eight
and
nine,
and
it
takes
out
the
wall
between
the
two
Barnes.
O
It
allows
us
to
develop
some
minor
with
minor
site
improvements
so
that
we
are
running
an
event
space,
both
interior
to
the
barns
and
exterior
to
the
barns,
with
the
ability
to
set
up
kind
of
public
market
space
and,
as
we
said,
with
minimal
investment
inside
the
barns
and
then,
when
removed
to
Phase,
two
gives
opportunity
to
them.
Grow
into
barn
10
with
additional
site
development.
Moving
to
the
west.
M
O
Phase
3
that
10
year
plus
gift
gave
us
an
opportunity,
then
think
about
the
opportunity
for
whether
it
was
the
market
itself
or
whether
it
was
the
Fair
Park
to
grow
additional
event
space
within
the
two
barns
just
north
of
barns.
Eight
nine
ten
called
the
Sheep
barn
in
the
market
barn,
and
this
gave
us
another
opportunity
to
really
engage
activities
along
the
river
front
property.
O
We're
just
going
to
quickly
go
through
what
this
might
look
like
in
barns,
eight
and
nine.
What
we're
looking
at
is
in
the
beginning,
initial
vendor
stalls
which
are
set
up
as
kind
of
ten
by
ten
foot
prints.
They
have
very
limited
physical
improvements,
just
hand
washing
sinks,
some
outlets
for
power,
and
we
give
space
for
both
event,
space
and
seating
within
those
two
barns.
This
gives
us
an
opportunity
to
be
able
to
kind
of
lay
out
the
space
in
a
whole
variety
of
different
ways.
O
O
As
we
said,
the
first
and
most
important
component
piece
of
the
first
phase
is
just
making
sure
people
understand
that
there's
a
market
on
this
site
making
sure
people
can
get
into
the
site
that
there's
a
DA
accessibility
and
that
there
are
spaces
outside
that
are
accessible
and
easy
to
set
up
whether
it's
permanent
or
or
mostly
in
permanent,
mark
market
stalls.
In
Phase
two
of
the
site,
we
get
to
much
more
permanent,
some
more
permanent
space
developed
between
barns,
eight
and
nine,
and
we
grow
to
the
west.
O
N
A
former
market
manager
management's
very
important
when
people
go
to
these
markets.
They
don't
know
that
someone's
actually
running
these
things,
but
part
of
the
big
part
of
the
success
will
be
the
management
and
there's
some
options
too
to
approach
this
historically
markets
were
run
by
the
city
itself
or
the
municipality,
but
we're
seeing
cities
get
out
of
the
men
at
market
management
seat
and
set
up
typically
like
some
other
entity
and
not-for-profit
entity,
but
the
the
Fair
Park
itself
is
a
natural
entity.
N
They
are
a
not-for-profit
whose
goals
have
a
lot
in
common
with
the
public
market.
That's
option
one.
The
second
option
would
be
to
issue
an
RFP
or
to
look
for
an
outside
entities,
typically
like
a
501,
C
3.
That
would
run
this
market
and
the
third
option
would
be
some
kind
of
a
hybrid
where
the
Fair
Park
would
maintain
some
direct
involvement
with
the
the
management
that
and
the
market
could
be
run
by
a
third
party,
and
that
might
be
the
best
option
of
all
that.
What
does
this
phase
three?
N
They
didn't
start
out
with
the
endgame,
it's
nice
to
just
start
simply
let
the
vendors
make
some
money.
Customers
have
some
fun,
not
be
worried
about
paints
and
big
bills
or
having
debt
around
your
around
your
neck.
Just
these
things
very
simple.
You
know
temporary
seating,
some
good
public
spaces,
let
the
vendors
have
some
fun
setting
their
spaces
up
the
way
they
like
to
set
them
up
and
express
their
personality.
N
N
N
We
have
run
pro
formas
for
all
of
these
things.
Your
initial
break-even
for
a
very
simple
market
to
get
started
is
about
30
30
to
40
vendors
I.
Don't
think
we
need
to
go
through
all
these
numbers
and
your
and
you
can
start
even
to
make
a
little
bit
of
money
operationally
going
from
30
vendors
to
80
vendors,
to
120
vendors
and
in
phase
2,
when
you're
you've
got
more
permanent
spaces
in
barns,
8,
9
and
10.
N
Looking
at
like
a
five-year
pro
forma,
just
with
just
some
simple
assumptions,
you're
starting
to
operate
year-round,
you
can
really
begin
to
break
even
almost
right
off
the
bat.
If
you
again
keeping
this
later,
a
quicker,
cheaper
approach.
That
is,
that
is
a
sound
way
to
go
forward.
It's
not
a
risky
way
to
go
forward
to
be
lighter,
quicker,
cheaper.
You
can
just
you
know,
glance
at
this.
N
I
think
you
have
a
copy,
you
can
look
at
in
more
detail
but
you're
those
your
income
and
then
your
expenses,
and
if
you
go
all
the
way
to
the
bottom,
you're,
not
operating
income,
you
can
see
that
you
can
begin
to
on
that.
Previous
slide
begin
to
break
even
and
have
an
operational,
be
operationally
self-supporting
fairly
quickly
next
slide.
N
So
you
might
be
thinking
well
how
you
know
how's
this
gonna
work
I
mean
how
many
people
do.
We
need
just
some
simple
exercises
if
you
know
running
the
numbers
with
30
vendors
or
80
vendors
or
120
vendors,
these
numbers
seem
very
achievable,
like
with
30
vendors,
you
need
a
thousand
to
two
thousand
customers
going
to
the
market
and
that's
based
on
vendors,
paying
ten
to
twenty
percent
of
their
sales
is
rent
to
go
to
the
next
slide.
N
With
85
vendors,
you
need
two
to
five
thousand
customers
per
market
and,
if
you
know
at
the
when
the
market
is
fully
mature,
seven
to
fourteen
thousand,
which
seems
with
your
population
with
the
how
as
we
compared
it
with
other
markets,
these
numbers
seem
well
within
the
capability
of
Salt
Lake.
In
your
demographics,
there
are
other
additional
sources
of
income
that
we're
not
in
the
pro
forma,
the
the
bars
being
improved.
We'll
have
probably
demand
from
other
people
when
there's
not
a
market
there
to
do
something.
P
P
N
40%
of
the
city
population,
I,
wrote,
I
just
was
looking
at
this
is
within
10
minutes
and
I.
Think
it's
the
within
the
metropolitan
area.
It
is
it's
also
a
pretty
health.
A
third
of
the
metropolitan
area
is
within
a
ten
minute
drive
so
and
and
that's
so.
These
are
not
big
numbers
compared
to
your
city
and
and
metropolitan
demographics.
N
And
then
phase
three
and
that
we're
really
kind
of
in
the
crystal
ball
at
this
point,
because
this
could
be
in
you
know
your
five
years,
six
or
seven
and
other
things
will
be
happening,
but
it's
really
looking
at
the
Fair
Park
as
a
year-round
destination
at
that
point,
and
the
market
will
play
all
role
in
that,
but
we
would
imagine
that
other
people
will
come
forward.
That
would
have
an
interest
in
investing
and
doing
things
at
the
fair
park
as
well.
N
In
addition
to
the
operating
expenses,
there
are
some
startup
cost
getting
getting
things
organized.
Getting
some
getting
your
vendors
figured
out
getting
to
get
an
office
set
up
your
fees,
your
permits,
your
legal,
so
that's
been.
This
is
a
capital
expense,
not
an
operating
expense
and
capital
expenses.
I'm
going
to
turn
it
back
over
to
CRS
a.
B
Long,
do
you
think
it
would
take
to
do
this
set
up
like
what
if
the
money
is
appropriated
like
how
Oh
like.
B
O
I'm,
just
gonna
quickly
go
over
some
initial
costs.
There
are
some
things
that
just
need
to
be
done
to
make
sure
the
space
is
functional
for
those
who
are
using
it.
Small
HVAC
and
lighting
improvements.
Some
signage
and
street
improvements
are
part
of
the
interior
costs
and
some
exterior
costs
include
exterior,
paving
decking
food
truck
service
as
well
as
some
signage
there.
These
are
kind
of
the
basis
baseline
costs
to
start
up
in
phase
one.
Of
course,
one
can
take
these
on
over
a
series
of
years.
O
They
don't
know
you
to
be
all
done
at
once,
and
really
the
project
can
be
done
in
any
phase.
Any
number
of
phases
that
you
see
fit
in
phase
two.
The
project
includes
additional
management
and
operation
costs
and
additional
kind
of
expense
when
it
comes
to
interior
improvements
and
exterior
improvements
to
the
site.
Those
include
kind
of
additional
vendor
stalls,
adding
a
space
for
and
supply
for
people
to
be
able
to
plug-and-play
power
data
sewer
gas
service
to
each
of
their
vendor
stalls.
O
So
we're
able
to
have
more
fixed
commercial
locations
than
temporary
locations
and
were
able
to
support
kind
of
long-term
vendor
lease
space
in
Phase
two,
as
well
as
a
larger
size,
exterior
space,
and
some
of
this
work
that
we
initially
priced
has
been
done
already
by
the
fair
park,
as
they've
been
doing
some
site
improvements
on
the
site
surrounding
the
three
barns
as
well,
so
some
of
those
costs
may
go
down.
Additionally,
there
are
some
additional
startup
costs
in
Phase
two
with
totals
for
management,
interior
and
exterior
improvements.
O
The
total
comes
to
four
point:
five
million
dollars,
and
at
this
point
in
time
it's
important
to
consider
that
once
the
barns
rollover
into
more
year-round
use,
there
is
an
important
consideration,
which
is
the
replacement
of
the
barns
which
are
used
by
the
Fair
Park
during
fair
season
for
animals
showing,
and
we
have
placed
value
to
that
barn
replacement.
At
one
point,
two
million
dollars
says
something
would
need
to
happen
at
another
location
within
the
Fair
Park
site
to
replace
those
barns
for
fair
use.
P
M
M
So,
where
do
we
go
from
here
well,
dependent
on
what
the
RTA
chooses
and
what
the
State
Fair
Park
board
chooses
we
presentations
to
the
public
and
we
have
done
extensive
presentations
to
the
public
to
get
where
we
are
now
and
gathered
extensive
input
from
the
public
to
determine
what
their
needs
and
wants
are,
but
we
would
move
into
the
next
phase
to
say:
okay,
this
is
what
is
possible.
The
presentation
today
we
there
somebody
needs
to
determine
who
owns
this
who's
going
to
manage
this
project.
Is
it
fair
park?
M
Is
it
as
a
city
organization?
Is
another
nonprofit
and
a
go/no-go
decision
needs
to
be
made
once
that's
made,
support
needs
to
be
gathered,
management
option
decision
needs
to
be
made,
managers
have
to
be
identified,
a
business
plan
needs
to
be
written
and
presented
funding
agencies
and
startup
cost
identified
and
secured.
A
Q
Q
Traffic
well,
thank
you
for
those
of
you
who
don't
know
me:
I'm
Larry,
Mullenix
I'm,
the
executive
director
for
the
Utah
State
Fair
Corporation.
Our
board
has
reviewed
the
CRA
findings,
they're
very
excited
about
the
potential
of
having
the
international
market
there
and
they've
tasked
me
with
the
responsibility
of
putting
a
financial
pro
forma
together
and
a
business
plan.
Although
the
information
contained,
we
believe,
is
very
accurate
with
the
number
of
booths,
but
we
do
business
just
a
little
bit
differently.
Q
We
believe
there's
more
capital
and
more
revenue
to
be
captured
through
the
food
and
beverage.
That's
really
not
explored
in
this
study.
This
study
is
strictly
looking
at
booth
space,
rental
and
not
food
and
beverage
percentage
of
gross
revenue
cells.
So
we're
pretty
excited
about
it.
It's
consistent
with
our
statute
for
many
of
you
who
are
unfamiliar
with
us.
Q
We
actually
are
under
statute
to
develop
and
grow
the
Fair
Park
area
and
bring
these
types
of
opportunities
to
the
community,
and
so
we're
very
community
focused
and
we
know,
there's
a
food
desert
over
there
and
we
also
know
there's
a
lack
of
opportunity
for
entertainment
in
the
evenings
for
individuals
who
live
over
in
that
area
and
as
that
area
starts
to
become
more
popular
for
young
families.
There's
a
need
for
something
like
this
over
there.
So.
Q
Have
we
started
having
these
conversations
about
a
year
ago
with
various
legislators,
so
the
Fair
Park
Corporation
and
the
fair
reports
to
a
fair
Park
Board?
This
made
up
a
lot
of
legislators,
and
so
we
report
directly
to
our
own
subcommittee
they're
familiar
with
our
intentions
here
and
what
we'd
like
to
see
have
happened
as
well
as
our
local
representation,
and
then
the
the
director
of
the
division
of
facilities
and
construction
management
actually
sits
on
our
board
and
actually
has
been
part
of
this
study
from
day.
One
great.
B
Did
did
your
board
in
having
you
come
up
with
a
wooden?
Did
you
say
a
business
plan
for
this?
Did
they
specify
how
they
would
like
to
see
this
governed?
Do
they?
Are
they
envisioning
that
they
would
be
the
governing
board
for
this
project,
or
did
they
talk
about
doing
a
third
entity?
But
what
was
that?
Was
there
any
direction
given
on
that?
There.
Q
Was
no
direction
given
on
that,
primarily
the
focus
that
I've
been
given
or
the
task
that
I've
been
given
is
to
come
up
with
our
pro
forma.
That's
based
upon
our
knowledge.
So
for
many
sitting
here
that
may
seem
foreign
of
what
we
just
talked
about,
but,
for
example,
we
have
four
hundred
and
ten
vendors
during
the
fair
that
our
commercial,
exhibitors
and
another
110
that
our
food
vendors
so
we're
very
familiar
with
booking
booth
rental
spaces
for
commercial
exhibitors,
as
well
as
food
and
beverage,
so
they're
taking
the
position.
Q
Q
P
P
I'm,
a
single
him
out
and
and
the
staff
with
him,
because
this
isn't
what
I
wanted
right:
I
mean
it
when
somebody
says:
oh,
it
was
a
name:
I
had
an
MA
eye
appraisal
and
I,
just
think
to
myself
that's
made
as
instr.
That's
all
it
is,
and
this
is
not
made
as
instructed.
This
is
actual
good
knowledge
and
depth
that
you've
gone
through
and
bringing
up
data
and
bringing
in
the
community
to
talk
about
it.
P
I
mean
sure
I'd
love
to
see
thirty,
two
million
dollars
thrown
at
the
West
Side
on
North
temple,
but
we
know
that
that's
not
feasible
right.
We
know
that
as
a
board.
We
cannot
do
that.
There
is
no
money
to
do
that.
But
if
we're
looking
at
a
small
increment
growth
like
this
yeah,
this
is
and
to
me
it's
a
no-brainer.
This
is
something
that
I've
seen
from
the
beginning
that
we
have.
We
have
partners
that
we
would
I'm
speaking
for
myself,
Larry,
and
you
know
that
I've
talked
to
you
about
this.
P
I
want
to
participate
with
this
I
think
this
is
exactly
what
the
Westside
needs
and
that
moving
forward.
There's
other
participants
too:
we've
got
the
county
that
can
participate.
We've
got
this,
the
state
they
can
participate.
We've
got
elected
leaders
on
the
west
side,
they
can
go
out
and
maybe
get
some
state
appropriated
money.
They
fund
this
right
and
so
I
think
that
it's
just
getting
those
those
partners
put
together.
But
as
you
go
forward
with
your
business
plan
to
present,
please,
if
you'd
include
me,
I'd
love
to
being
all
involved
with
that.
Absolutely.
Q
Be
happy
to
if
I
can
interject
just
a
little
bit
more
information
and
just
as
a
reminder,
you
invited
me
to
speak.
That
was
a
mistake
and
it's
because
we're
so
passionate
about
the
Fair
Park
in
the
area.
But
following
the
advice
of
some
of
the
information
we
captured
during
this
discovery
process,
we
were
able
to
pave
that
entire
area.
So
for
me
it's
embarrassing
to
see
those
photos
of
the
Barnes,
because
the
pavement
is
is
all
about,
but
all
that
drainage
has
been
addressed.
All
new
underground
storm
drains
have
been
installed.
Q
That
areas
paved
we've
installed
flowerbeds,
because
that
became
a
part
of
a
focal
point
that
there
needed
to
be
more
art
incorporated
and
then
we've
also
partnered
with
street
artists
and
we've
actually
started
incorporating
art
right
into
the
Fair
Park.
Just
based
upon
the
casual
conversations
that
we've
had
because
we
agree
it
has
to
be
a
really
beautiful
place
for
people
to
come.
There
I.
B
J
Q
A
really
good
question:
we
would
like
to
see
the
first
year
at
least
where
we
temporarily
suspend
the
activities
in
the
barns
to
allow
us
to
host
the
first
Junior
Livestock
Show.
Their
long-term
plan
has
been
that
we'd
like
to
relocate
the
barns
to
the
north
side
of
the
property
and
the
reason
being
is
we
don't
have
what's
considered
a
true
back,
a
house
for
the
livestock
show
in
1902
when
the
park
was
originally
plotted.
It
worked
very
well.
That's
because
everyone
was
making
their
deliveries,
veal,
wagons
and
and
basically
cattle
drives.
Q
So
now,
during
the
fair,
we're
actually
asking
exhibitors
to
drive
their
vehicles
right
through
para,
fair
patrons
to
get
to
their
animals
after
the
exhibits
closed.
So
it's
somewhat
of
a
safety
issue
right
now,
so
this
isn't
new
for
us
looking
at
trying
to
relocate
them
to
a
different
location,
I
hope.
J
B
Q
We're
always
looking
at
ways
that
we
can
program.
Here's
a
little
bit
of
a
piece
of
information.
A
lot
of
people
aren't
aware
of
when
the
Outdoor
Retailer
is
left
Utah.
We
were
able
to
negotiate
and
keep
our
small
portion
of
that.
So
we
continue
to
host
the
Western
winter
retailer
Show,
which
launched
this
morning
at
8
a.m.
and
we've
seen
that
girl
from
one
building
to
four
buildings
and
here's
something
I'd
like
you
to
think
about
is,
as
we
continue
to
be
successful
in
these
events,
gain
more
and
more
traction.
Q
It's
the
day
will
come
where
they
have
to
relocate
to
a
larger
venue
and
that
would
be
appropriate
that
they
relocate
to
the
Salt
Palace
right
down
the
street,
but
that
venue
will
or
that
show,
will
outgrow
us
the
next
couple
of
years.
So,
if
you're
in
the
area,
you
want
to
tour,
give
me
a
call
I'd
love
to
walk
you
through
there.
Yes,.
F
Would
just
say,
I'm,
very
supportive
of
the
project.
Thank
you
very
much
for
coming
back
with
a
sadist
concept
that
is
careful
in
its
growth
and
manage
as
you
go.
The
investment
James
is
talking
about,
may
not
be
on
the
head
side
of
the
street.
It
may
be
on
the
white
ball
side,
ballpark
side.
Yes,
any
sense
on
progress
on
that
property
and
how
that
ties
in
to
this
at
all.
In
the
discussions,
that's.
Q
A
great
question:
initially,
we
would
utilize
the
north
side
of
that
for
additional
parking
to
support
the
market.
We've
been
working
with
three
different
developers
that
have
been
trying
to
put
a
large
project
on
that
corner.
They've
had
some
challenges
getting
all
of
the
various
property
owners.
On
the
same
page,
we
had
a
lengthy
conversation
two
weeks
ago,
we're
going
to
focus
strictly
on
the
development
of
the
white
ballpark,
because
we
were
unable
to
get
the
other
property
owners
to
get
on
the
same
page.
A
P
A
A
It
was
a
dead,
neighborhood
I
think
if
we
can
all
agree
with
Detroit,
but
I
mean
it's
amazing
and
I
really
appreciate
it
and
they
once
again.
I
also
want
to
take
this
opportunity
to
thank
Kara
with
the
RDA
staff.
You
I
know
how
hard
you've
been
working
on
the
North
Temple
project
area
as
a
whole,
and
this
is
only
one
piece
of
all
of
the
work
that
you
do.
I,
don't
know
how
Danny
got
so
lucky
to
have
such
amazing
stuff,
but
the
city
is
certainly
the
beneficiary
of
it.
A
E
A
B
E
So,
as
you'll
recall,
the
board
in
2019
approved
a
notice
of
funding
availability
for
ten
point:
eight
million
for
incentives
to
develop
and
preserve,
affordable
housing
and
of
that
amount.
You
put
four
point:
five
million
aside
for
projects
and
high
opportunity
census
tracts.
These
are
mostly
just
they're,
very
broadly
on
the
east
side
of
the
city.
E
This
Richmond
flats
application
is
the
first
application
of
these
funds
that
has
been
received,
and
yes
so
talk.
Speaking
of
unicorn's.
We've
got
one
here,
and
so
the
goal
for
today
for
the
board
is
to
consider
approving
the
proposed
loan
for
this
affordable
housing
program
project.
Sorry,
2960,
South,
Richmond,
Street.
It's
a
1.8
million
loan
request
and
the
developer
is
Community
Development
Corporation
of
Utah
the
CDC.
It
would
be
approximately
60
units
of
affordable
housing
on
1.4
acres
and
the
units
will
be
priced
from
about
41
to
60%
of
ami.
E
R
R
This
was
a
part
of
the
NOFA
that
was
released
in
June
and
the
board
approved
the
citywide
projects
and
allocated
money
towards
those
back
in
September,
but
this
is
the
remaining
4.5
that
has
not
been
allocated
and
I.
Think
well,
so
did
Alison
mentioned
some
of
this,
but
the
developer
is
CDC
Utah.
The
project
concept
is
to
develop
some
Middlemiss
missing
middle
housing,
type
on
the
east
side
of
the
city
that
may
include
some
affordable
workforce
and
family
rental
housing
and
the
initial
development
costs
are
totaling
about
approximately
13
million.
R
Again
these
are
really
early
numbers.
They
are
and
are
really
kind
of
the
earlier
stages
of
this
project.
So
as
they
get
into
the
more
details,
the
total
number
units
and
the
ami
targets
will
kind
of
will
be
amended
based
on
kind
of
what
zoning
would
be
approved
and
then
to
move
from
that
they
are
looking
to
rezone.
The
property
and
they
will
be
looking
at
applying
for
tax
credits.
R
So
within
our
timeline
we
would
give
them
about
24
months
to
complete
those
processes
and
we
wouldn't
close
on
the
property
until
until
then
a
close
on
the
loan.
Until
then,
here's
just
a
quick
map
of
the
property
in
yellow
it
is
on
the
border
of
Mill,
Creek
and
Salt,
Lake,
City
and
so
see,
and
it
is
located
within
the
high
opportunity
area.
R
So
the
finance
company
did
approve
these
initial
terms
that
are
laid
out
here.
A
total
amount
would
be
1.8
million,
and
the
interest
rate
would
be
between
1
and
3%,
just
depending
on
the
project
capacity
for
repayment.
So,
as
they
kind
of
get
into
more
of
the
details
of
the
development,
will
kind
of
work
to
fine-tune
those.
The
term
would
be
30
years
and
the
repayment
would
be
a
cash
flow
repayment
in
terms
of
the
conditions.
R
F
Chair
and
Madam
George
Chapman
brought
up
an
interesting
question
earlier
this
week
about
the
pedestrian
needs
through
there
earlier
we
had
spoke
with
Mill
Creek
about
the
one
of
the
concepts
we
talked
about
with
them
was
a
little
further
south
from
here.
Looking
at
some
joint
ventures
or
some
work
on
our
and
to
help
with
streetscape
improvements
or
those
kind
of
things,
we
haven't
formalized
anything
that
way,
but
I
think
this
stretch
of
Richmond,
the
Richmond
Street,
let's
forget,
could
really
use
some
pedestrian
friendly
work
done.
F
J
P
A
A
This
was
tough
because
we
knew
that
we
had
four
and
a
half
million
dollars
sitting
out
there
and
we
wanted
to
get
it
out
and
you
successfully
convinced
us
to
wait
a
little
bit
longer
and
we
I'm
grateful
that
we
have
a
an
applicant
in
this
area.
I'm
grateful
that
we're
going
to
see
something
for
which
the
intent
of
this
money
was
set
aside.
I
still
think
we
should
maybe
look
at
the
boundaries,
but
I'm
glad
we
waited,
and
that
way
you
got
this.
So
thank
you
for
your
perseverance
on
this
one.
Thank.
J
But
I
will
say
I
thought
of
this
fund.
The
four
point
five
last
week
when
I
was
at
this
mayor
camp
and
learned
from
a
gentleman
who's,
a
fellow
at
Harvard,
Kennedy
School,
who
works
with
communities
trying
to
act,
increased
mobility
for
families
and
people
living
on
low
opportunity
areas
in
too
high
opportunity
areas.
So,
of
course,
my
ears
pricked
up,
and
he
for
one
has
some
things
to
work
with
us
on
through
the
Harvard
Kennedy
School,
but
one
of
the
best
ideas
to
come
out
of
it
was
city
of
Seattle
and
King.
J
County
allocated
money
for
housing,
navigators,
specifically
tasked
with
finding
housing
in
areas
high
opportunity.
Existing
housing,
which
I
know,
is
hard
in
our
housing
market,
but
I,
see
Andrew,
smirk
and
so
I
know
that
there's
probably
a
lot
of
difficulties.
I
don't
know
about
yet,
but
there
could
be
some
new
flexibility.
We
build.
A
P
A
A
E
Just
say
a
couple
quick
words
at
the
beginning,
as
you
alluded
to
madam
chair,
the
goal
of
the
shift
of
the
Housing
Trust
Fund
administration
to
the
RDA
when
it
was
previously
in
community
and
neighborhoods,
is
to
streamline
the
process
for
loaning
city,
affordable
loans.
So
that's
that's
what
the
goal
is
we're.
We
want
developers
to
be
able
to
access
all
of
the
available
funds
in
the
city
in
a
much
more
efficient
and
quick
manner,
because
that
allows
them
to
get
units
on
the
street
more
quickly.
E
The
housing,
trust
fund
rules
and
purposes,
as
the
RDA
will
we'll
explain
in
greater
detail,
stay
the
same
as
they
were
before.
There's
been
no
change
in
how
the
Housing
Trust
Fund
is
going
to
function.
The
funds
will
only
be
used
for
affordable
housing,
there's
no
support
for
other
kinds
of
housing
that
the
RDA
may
engage
in
in
other
areas
or
with
other
funds,
and
it
includes
that
a
similar
role
for
the
Housing
Trust
Fund
invite
Advisory
Board
as
it
had
before
so
I'm.
Sure,
Tammy
and
Tracy
would
like
to
get
into
additional
details.
G
Furthermore,
legislative
intent
provided
that
they
had
to
align
with
the
current
housing
trust
fund
and
that
the
Housing
Trust
Fund
Advisory
Board
play
a
role
in
the
allocation
of
the
funds.
So
what
is
in
your
packet
today
is
just
a
briefing
on
the
guidelines
that
we
have
administrative,
Lida,
velop
between
RTA
and
community
and
neighborhoods
on
how
those
funds
will
be
deployed.
G
So
we
will
come
back
with
like
a
larger
discussion
on
affordable
housing
implementation
framework
with
the
administration
at
a
later
date.
So,
to
summarize,
what
the
program
and
the
guidelines
we
came
up
with
to
deploy
these
funds,
it's
pretty
much
how
the
housing
trust
fund
has
been
working
to
date,
legislative
intent
called
for
the
RDA
to
name
these
funds,
specifically
the
Housing
Development
trust
funds.
G
Sorry
and
then
also
applications
are
to
be
evaluated
in
the
order
they're
received.
So
that's
a
little
bit
different
than
the
RDAs
NOFA
policy
in
which
we've
been
doing
competitive
applications.
We
wanted
to
fulfill
the
intent
of
the
Housing
Trust
Fund,
how
it
had
been
functioning,
so
it's
first-come,
first-serve.
Essentially,
the
RDA
is
administering
the
application
process.
In
coordination
with
hand,
applications
will
be
reviewed
by
the
Housing
Trust
Fund
Advisory
Board,
for
a
recommendation
that
is
then
forwarded
to
the
RTA
board.
So
that's
another
switch
from
before
it
won't
go
to
the
City
Council.
G
Approach
to
that
is
when
you
have
a
competitive
process,
usually
that
would
be
administered
once
or
twice
per
year,
and
so
the
timing
of
applications
might
not
exactly
line
up
with
project
needs.
So
there's
when
you're
accepting
applications
on
a
a
basis,
you
have
to
recognize
that
projects
might
be
in
different
stages
of
the
development
pipeline
a
little
bit,
and
so
you
have
to
provide
some
flexibility
there.
If
you
have
a
first-come,
first-serve,
you
funds
are
available
kind
of
well
until
they
run
out
when
the
project
needs
it.
G
G
A
Mean
I've
I
think
just
off
the
top
of
my
head.
I
would
say
yes
right.
It
seems
to
me
that
there's
probably
more
demand
than
money
available,
so
I
wonder
about
that
way
of
putting
out
the
money
and
I
think
that's
something.
Maybe
we
want
to
talk
about
some
more.
Are
there
other
thoughts
on
this
sure
Cindy.
S
When
one
of
the
things
that
we
noticed
when
we
were
doing
analysis
as
staff
is
that,
on
the
first-come,
first-served
basis,
you
are
reacting
to
what
people
are
bringing
to
you,
and
so
they
have
made
a
lot
of
the
decisions
about
what
you
know:
what
they're
building
and
how
they're
incorporating
the
affordable
units
and
all
kinds
of
things,
and
so
you
are
having
to
adapt
to
their
structure
rather
than
when
you're
doing
the
notice
of
funds
availability.
What
you're
doing
is
you
are
putting
your
policy
priorities.
S
S
Our
experience
has
been
that
it's
more
transparent
to
do
the
nofa,
because
and
that's
notice
of
funds
availability,
because
then
people
are
you've
laid
out
everything.
It's
an
even
playing
field
and
you
don't
require
people
to
be
at
a
certain
point
in
their
project.
You
accept
proposals
as
they
are,
and
so
so
that
was
a
major
plus
that
that
we
saw
in
a
bit
of
a
difficulty
with
the
first-come,
first-serve.
D
If
I
may
add
to
that
I
think
Cindy's
distinction
is
spot-on
and
I.
Think
with
regard
to
these
funds,
where
the
initial
legislative
intent
was
to
try
to
keep
the
process
in
place
that
existed
prior
to
this
transfer,
I
think
the
intent
of
the
Housing
Trust
Fund
board
traditionally
has
been
to
use
these
funds
almost
as
a
bridge
type
of
gap,
financing,
I,
wouldn't
say
in
an
emergency
situation,
but
to
Cindy's
point
projects
would
come
and
seek
this
funding.
D
A
G
A
Perfect
awesome
that'll
be
exciting
and
then
for
board
members
kind
of
that
discussion.
We
were
just
having.
We
are
coming
back
to
the
roles
and
responsibilities
and
sort
of
some
role:
clarity
between
RDA
and
hand
that
they
as
two
teams,
have
worked
together
to
kind
of
define,
but
we'll
be
having
that
discussion
in
February,
probably
at
a
later
agenda,
FYI.
Well,
thank
you
very
much.
Thank
you.
D
That's
operated
by
the
road
home
where
they
provide
credits
and
people
can
go
and
do
their
Christmas
shopping
and
and
the
Santa
Shack
is
on
the
plaza
as
well
and
Amanda
made
sure
that
us,
as
an
RDA
staff,
participated
in
the
setup
and
the
sorting
of
items
within
candy
cane
corner.
So
we
did
that
right
as
they
were
getting
ready
to
open
so
want
to
thank
Amanda
and
both
Jim
for
working
with
candy
cane
Corner
and
getting
that
set
up
as
well
as
getting
us
involved
in
that.
D
So
then,
the
other
item
is
just
to
follow
up.
We
have
submitted
a
email
to
council
staff
to
speak
about
the
RDA
exploratory
trip,
with
a
list
of
with
a
list
of
possible
projects
and
ideas
that
we
had
heard
from
the
board
that
maybe
you
wanted
us
to
look
at.
We
provided
some
options
for
cities
that
hit
those
there
may
or
may
not
already
be
conversations
happening
about
other
things.
D
So
and
then
finally,
we
understand
that
we
have
two
board
members
who
this
is
their
last
meeting
and
so
as
already
a
staff,
we
wanted
to
show
our
appreciation
to
them
and
their
time
served,
and
we
have
some
baskets
to
present.
And
so
madam
chair
I,
don't
know
if
this
is
the
singing
part
of
the
meeting
that
you're
referring
to
earlier
I
am
NOT
singing,
but
but
certainly
we
wanted
to
I.
D
H
H
H
J
Well,
I
think
I've
been
a
thorn
in
your
side,
long
enough
as
a
board
member.
So
this
should
be
fun,
but
truly
I
got
the
RDA
can
do
some
huge
things.
We
have
done
some
huge
things:
the
house
that
Justin
built
also
known
as
the
Eccles
theatre,
the
affordable
housing,
21
million
dollars
in
affordable
housing.
We
put
together
I
mean
moving
the
needle
in
Salt
Lake
City
in
dramatic
ways
for
50
years
and
and
I.
J
J
The
economic
momentum
that
we
are
experiencing
we
have
been
experiencing
in
the
city
won't
last
forever,
so
our
opportunity
right
now,
whether
it's
the
public
market
on
North
temple
or
high
opportunity
area
connections
for
lower
socioeconomic
families
and
people
in
our
city,
there's
so
much
we
can
do
the
capital.
Is
there
we
and
we
are
the
capital
both
spelling
of
the
capital
I
mean
so
thank
you,
Amy
and
I
think
you've
been
a
wonderful
chair
and
I
hope.
A
And
so
now
it's
the
report
of
the
chair
in
the
vice
chair
and
I
am
NOT
gonna
make
it
through
this
without
crying.
So
if
I
don't
look
at
you,
that's
why
first
aaron
made
me
laugh
I
like
couldn't
even
start:
I
almost
lost
it
because
of
Aaron
and
now
I'm
gonna
cry
because
of
Aaron.
So
thanks
a
lot
just
kidding,
but.
A
A
Just
want
to
say
to
all
of
the
board
members
how
grateful
I
am
for
this
group
here
sitting
at
those
diets
right
now,
I
this
year
has
been
quite
a
year
for
the
RDA
I
can
only
I'd
like
if
it
seems
like
nearly
every
other
meeting
we
had.
There
was
something
controversial
or
protestors
or
a
difficult
decision
to
be
made
sleepless
nights,
lots
of
sleepless
nights
and
I.
A
A
A
You
have
been
a
mentor
to
me
and
have
talked
me
off
a
lot
of
ledges,
and
so
this
is
sort
of
that
symbolic
message
that
I
feel
that
as
a
mentor,
you
remind
me
that
we
can
do
anything
that
we
we
want
and
I
cannot
tell
you
how
much
I
appreciate
the
the
friendship
and
the
mentorship
that
you
have
shown
me
over
the
last
two
years
made
it
through
that,
but
barely
so.
Thank.