►
From YouTube: Redevelopment Agency (RDA) of Salt Lake City - 4/14/2020
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A
A
B
Social
distancing
won't
stop
democracy,
though
so
please
keep
joining
us
remotely
until
the
day
it's
safe
together.
Again
you,
the
people
we
represent,
are
always
in
our
hearts
and
minds,
and
we
hope
you
all
are
active.
Staying
healthy
and
safe,
although
conducting
our
meetings
electronically
is
different
from
our
familiar
in-person
public
process.
B
This
is
still
considered
an
open
and
public
meeting
and
is
just
as
important
if,
as
if
we
were
sitting
in
the
word
session
room
having
this
in
person,
I
want
to
encourage
everybody,
I
went
off-script,
Amanda
would
love
that
and
I
encourage
everyone
that
we
do
take
all
of
the
comments,
even
if
they're
difficult
at
times
for
us
to
receive
be
via
this
electronic
means.
We
take
them
seriously.
We
share
them.
We
want
to
continue
having
the
feedback
from
our
public
as
much
as
we
possibly
can.
B
We
also
welcome
members
of
the
public
who
may
be
watching
our
usual
live
video
feeds
on
the
City
Council's
agenda,
page
YouTube,
SLC,
TV
or
Facebook
live
all
10
of
you
or
more,
and
we
are
going
to
start
today's
agenda
with
the
comment
and
there's
some
things.
I
want
point
out
about
our
comments
and
how
we're
gonna
do
this.
This
is
general
comments
from
the
public
mm-hmm
and
it's
any
comment
to
the
board.
B
I
want
to
remind
the
public
that
written
comments
can
also
be
submitted
to
the
RDA
offices,
your
comments
about
any
RDA
business
or,
if
you
have
any
feedback
to
give
us
regarding
today's
meeting.
Please
contact
us
also
because
of
this
electronic
issue.
If
you
have
a
written
comment
that
you
would
like
to
be
public
that
you
weren't
able
to
give,
we
can
certainly
put
that
on
any
of
our
social
media.
B
What
pages
so
that
other
people
can
see
your
comment
if
you're
unable
to
get
in
touch
with
us
and
give
your
comment
today
so
for
anyone
calling
in
today
the
RDA
board
will
take
comments
from
the
public
and
I
want
to
explain
how
that
process
is
going
to
go.
Our
meeting
host,
Cindy
Lou,
has
been
doing
an
amazing
job
throughout
all
of
this
social
distancing
will
identify
the
callers
in
order
that
they
had
arrived
at
WebEx.
B
She
will
state
the
name
of
the
first
commenter,
followed
by
the
next
commenter,
who
can
then
prepare
to
speak
when
the
meeting
host
unmute
your
line
and
lets
you
know
it's
your
turn.
Please
state
your
name
and
hit
them.
The
allowed
two-minute
time
will
begin
at
the
two
minute
mark.
Your
microphone
will
be
muted.
Will
give
you
a
short
warning
that
your
two
minutes
is
up
and
then
we
will
mute
your
microphone
since
we're
connecting
electronically.
There
may
be
some
delays
between
people's
comments
and
discussion
items
more
so
than
usual.
B
Our
TA
meetings
have
guidelines
to
make
sure
people
feel
comfortable
and
safe
to
participate
in
our
new
way
of
conducting
the
public's
business.
Given
these
unusual
circumstances
to
help
facilitate
our
comment
period,
please
be
respectful,
avoid
yelling
making
any
racial
slurs,
obscene
or
defamatory
remarks.
As
always
again,
if
you've
been
in
any
of
my
meetings,
we
welcome
everybody's
comments,
but
we
ask
that
you
be
respectful
so
that
we
as
a
board,
can
hear
those
comments
and
other
people
who
are
participating
can
also
hear
those
comments.
B
B
B
Okey
doke,
if
we
get
anybody
I'm
happy
to
take
general
comments
at
any
time
during
the
meeting
or
set
it
up
a
little
later,
if
need
be
whatever
whatever
works,
I'm
happy
to
obviously
be
flexible,
okay
great.
So
if
you
get
somebody
please
just
let
me
know
and
we'll
kind
of
figure
out
where
to
sort
of
add
that
into
the
agenda
happy
to
so
we
are
on
to
the
next
item
of
business
Oh.
B
For
my
council
members,
I
know
that
for
some
of
our
City
Council
meetings
we
raised
the
little
hand
in
the
chat
section
I'm,
not
certain
that
I
will
pay
attention
to
that,
but
I
will
pay
attention
to
you
actually
raising
your
hand.
So
if
you
have
a
comment,
please
raise
your
hand.
I'll
do
my
best
to
watch
everybody.
Cindy
Lou
can
help
me
do
that
as
well,
but
just
raise
your
hand.
What?
B
B
C
C
E
B
A
A
G
So
the
board
receives
true-up
budget
amendment
each
year
and
that's
what
budget
amendment
number
three
is.
It
will
true
up
the
actual
tax
increments
received
compared
to
what
was
estimated
and
budgeted
in
the
annual
budget.
Danny
provided
email
with
additional
details
on
line
items
about
exactly
how
much
was
increased
and
the
different
funds.
G
The
increased
funding
will
go
to
in
most
instances,
it's
truing
up
the
amount
of
money
that
is
going
to
housing,
which
is
statutorily
required,
as
well
as
funding
that
is
required
to
go
to
other
taxing
entities
as
a
fixed
percentage
which
is
set
in
the
interlocal
agreements
between
the
agency
and
those
taxing
entities.
The
budget
amendment
also
creates
the
budget
for
a
stop
ler
single
property,
Community
Reinvestment
area
and
creates
first
budget
for
the
northwest
quadrant
community
reinvestment
area.
G
The
good
news
is
all
of
the
tax.
Increments
were
higher
than
budgeted,
which
is
always
good
news,
and
a
few
of
them
were
significantly
higher
than
budgeted.
For
example,
the
central
business
district
has
a
change
of
7.3
million,
and
the
Depot
district
has
a
budget
change
of
1.3
million
and
Danny
and
I
think
Marybeth
are
available.
If
there
are
specific
questions,
the
board
has
I.
F
Sorry
didn't
realize:
I
went
back
on
mute,
that's
a
good
question.
We
are
treating
this
as
a
one-time
adjustment.
We
are
not
sure
if
this
is
going
to
be
the
ongoing
revenue
that
we
receive
or
if
this
is
an
adjustment
based
on
changes
to
the
state
legislation
in
last
year's
legislative
session.
So
for
now
we
have
just
kind
of
made
the
adjustments
we
need
to
make.
F
We
are
conservative
in
how
we
are
spending
these
funds
with
the
bulk
of
it
going
towards
debt
payments
or
debt
reserve,
and
then
we
are
keeping
our
projections
for
next
year's
budget
about
where
they
were
a
little
bit
more
than
what
our
current
year
is.
We
are
not
projecting
this
moving
forward
yet
until
we
see
this
over
a
year
two
year
period
of
time,.
E
F
Do
not
have
to
use
it
within
a
certain
period
of
time.
There
are
a
significant
amount
of
distributions
we
have
to
make
either
to
the
taxing
entities
or
to
our
own
debt.
Service
amounts,
as
well
as
our
housing
allocations.
So,
though,
have
to
be
done,
but
the
bulk
of
the
funding
from
the
central
business
district
amount
is
being
carried
over
to
block
70
and
put
into
a
debt
Reserve
account
or
the
Eccles
debt
service.
So
that's,
essentially
a
rainy
day
fund
for
ourselves
to
make
sure
we
can
cover
the
debt
service.
B
B
H
That's
the
term
of
years
under
which
we
collect
tax
increment,
and
this
is
now
to
find
through
interlocal
agreements
with
entities.
So
technically
a
project
area
can
be
considered
active
but
be
outside
of
the
collection
years
of
tax
increment
and
the
RDA
currently
has
project
are
in
kind
of
the
pre
collection
area,
pre
collection
phase
and
also
the
post
collection
phase.
H
So
this
slide
actually
is
the
component
of
the
policy
that
in
October
you
act
asked
us
to
go
back
and
add
before
we
policies
establishing
why
the
RDA
would
use
our
programs
and
tools
before
the
collection
period
starts.
We
only
have
the
post-election
period
policies.
So
in
looking
at
the
pre
collection
project
areas,
there
are
certain
RDA
funds
that
are
still
available
within
these
project
areas,
even
though
we
aren't
collecting
yet
deck
areas,
primarily
the
revolving
loan
fund
and
the
program
income
fund.
H
But
with
these
limited
resources
in
these
pre
collection
project
areas,
the
policy
really
outlines
the
standards
for
which
we
would
consider
a
project
for
a
funding
allocation,
and
these
standards
are
the
first
ones
pretty
obvious.
The
project
would
need
to
align
with
the
project
area
plan.
The
second
one
is
it:
would
the
project
would
provide
for
the
revitalization
of
underdeveloped
properties
or
the
rehab
of
underutilized
buildings?
H
So,
within
the
project
on
the
specific
site,
we
want
significant
change
and
improvement
to
occur
and
they
want
the
project
you
cause
a
corresponding
or
at
least
anticipate
a
cause
to
cause
a
corresponding
and
complementary
development
reaction
on
surrounding
properties.
So
we
want
the
scope
of
the
project
to
be
large
enough
to
be
somewhat
catalytic
in
nature
and
spur
additional
development
and
the
location
of
the
project
to
be
strategic
location
to
maximize
community
impact.
So
it's
really
looking
at
allocating
RDA
resources
before
project
carry
starts
a
more
strategic
and
catalytic
project.
H
The
next
part
of
the
policy
is
the
post
collection
project
areas
how
we
would
handle
these
the
GI
in
those
areas-
and
this
is
more
a
program
related
since
we're
no
longer
collecting
tax
increment.
We
would
no
longer
obviously
process
applications
for
tax,
increment
reimbursement,
they're,
no
longer
feasible
and
with
the
loan
program
we've
divided
it
up
into
two
areas
for
non
RDA
initiated
projects.
We
would
accept
loan
application
two
years
after
the
expiration
of
the
collection
period,
the
kind
of
work
with
development
partners.
H
Those
projects
are
getting
finalized
and
as
we're
wrapping
up
development
efforts
for
RDA
initiated
projects,
we
would
still
process
loan
applications
up
to
the
date
of
project
area
dissolution.
So
for
in
our
sugarhouse
project
area,
we
are
no
longer
collecting
tax
increment,
but
we
will
have
the
former
di
site
that
we're
planning
on
redeveloping.
So
we
would
that
our
loan
applications
for
the
redevelopment
of
that
project
up
through
the
end
of
the
project
area
and
then
with
property
acquisitions.
H
D
H
D
H
A
I
Tell
me
thank
you.
I
just
have
a
clarification
question
on
the
dissolution,
so
I
can
see
that
there
are
some
conditions
to
dissolve
an
area,
but
does
that
mean
that
the
collecting
period
ends
the
day
we
dissolve
it,
or
does
it
end
before
what
whatever
the
date
was,
then
we
have
a
period
to
dissolve
it,
but
we're
not
collecting
anything.
H
The
collection
period
was
would
still
end
pursuant
to
our
interlocal
agreements
and
our
contracts
with
the
taxing
entities.
So,
for
example,
West
temple
gateway
around
the
central
ninth
neighborhood.
The
last
year
of
collection
was
2018
for
that
project
area,
but
we're
still
finishing
some
projects
in
the
area.
The
West
montrose
property
still
need
to
be
dissolved,
and
then
the
streetscape
project
needs
to
be
completed.
So
under
the
policy
we
would
finish
those
project,
property
and
then
and
then
take
the
formal
steps
to
actually
terminate
the
project
area.
Make.
A
Thank
you
so
Tami.
You
may
already
said
this
in
your
presentation,
so
I'm
sorry,
but
is
the
policy
that
we're
adopting
today
is
that
for
the
most
part,
what
the
RDA
was
already
doing
in
practice
or
other
deviations
is
this?
Did
we
see
more
like
variants,
depending
on
the
project.
H
It's
pretty
much
what
the
RDA
has
been
doing
by
practice,
however,
I
think
it
will
add
some
clarity
to
our
processes.
For
example,
when
the
West
temple
Gateway
project
area
terminated
its
collection
2018,
we
were
still
unsure
whether
we
should
be
collecting
loan
applications
or
we
should
tell
developers
our
loan
funds
are
no
longer
available
in
that
project
area.
So
this
would
just
add
some
clarity
saying
that
we
would
still
consider
new
loan
applications
up
to
two
years
after
the
project
area
collection
period
terminate.
A
A
A
Okay,
cool
a
little
bit
I'd
if
I
could
just
add
madam
chair,
the
state
law
is
so
different
in
each
state,
as
it
relates
to
tax
increment
that
it's
really
apples
and
oranges
comparing
and
so
the
most.
The
best
comparisons
would
be
within
the
state
of
Utah
cuz,
they're
governed
by
the
same
state
code
we
are,
but
because
obviously,
Salt
Lake
City
is
kind
of
first
in
creating
a
lot
of
the
project
areas
we're
first
and
sort
of
facing.
What
do
you
do
when
project
areas
expire,
especially
significant
ones,
and
so
appreciate
it?
A
B
Else,
council
member
I
mean
board
members.
So
to
echo
what
gem
said,
I
really
do
appreciate
this
policy.
I
think
it
is
interesting
like
coming
at
an
apt
time
when
deer
and
brought
up
or
a
State,
Street
and
nine
line
and
and
projects
to
be
the
catalytic
project
that
we've
we've
been
talking
about
for
a
while.
So
I
appreciate
the
work
on
this
policy
and
if
there's
no
other
questions
or
concerns
or
I
would
actually
look
for
a
motion.
A
Madam
chair
I
and
with
the
RDA
board,
adopt
the
resolution
authorizing
policies
for
the
expenditure
of
funds
within
the
pre
collection
in
close
collection
project
areas.
Setting
conditions
for
dissolving
project
areas
after
collection
period
ends
again.
B
I
D
H
B
Item
4
is
informational.
It's
the
northwest
quadrant
tax
increment
for
affordable
housing,
discussion
and
Allyson
before
I
turn
any
time
over
to
you.
I
just
wanted
to
kind
of
let
board
members
and
the
public
know
why
this
is
on
the
agenda
we've
been
you
know.
James
has
actually
been
talking
about
this
Northwest
quad
tax
increment
as
it
relates
to
housing
for
a
while
and
I
in
talking
with
board
members
and
kind
of
thinking
about
it.
B
B
J
You,
madam
chair
I,
believe
I'm
unmuted.
Yes,
I
am
okay,
I
just
wanted
to
add
two
things
very
briefly.
One
is
just
a
reminder
for
anyone
who
has
forgotten
her
or
who
may
never
have
known
that.
The
inland
port
statute
requires
that
10%
of
the
tax
differential,
which
is
what
we
call
tax
increment
in
an
RDA
setting,
that's
generated
in
the
northwest
quadrant
go
to
the
local
community
reinvestment
area
to
be
used
for
affordable
housing.
So
that's
what
it
says
in
state
code
and
there's
really
not
a
lot
of
other
guidance.
J
So
this
is
why
part
of
my
chair
Fowler
is
interested
in
having
this
discussion.
The
second
thing
I
wanted
to
note
is
that
the
RDA,
as
you
may
remember,
the
RDA
staff
has
been
working
on
housing
policies
and
funding
policies
for
the
past
at
least
a
year,
and
so
there
are
two
attachments
in
your
packet,
one
that
includes
the
Salt
Lake
City
Housing
implementation
framework
from
the
RDA
and
the
other,
which
is
the
RDA
housing
framework.
So
I'd
recommend,
if
you
have
a
chance
to
look
at
those.
J
B
C
C
We
bring
professionals
in
to
discuss
it
and
I
think
that
the
main
point
behind
the
affordable
housing
for
the
10%
that
we
were
allocated
was,
of
course,
to
do
affordable
housing,
but
I
think
it's
another
way
to
look
at
opportunities
to
improve
communities
right
and
improve
community
areas
on
the
west
side
too.
So
I
don't
know
if
there's
ways
that
we
could
I
mean
just
brainstorming.
If
we,
you
know,
we
do
a
fact-finding
night
and
figuring
out
ways
to
create.
C
You
know
the
most
creative
policy
like
what
we
just
did
with
post
and
and
pre
area
creation
area.
You
know
create
gathering
that
at
creation
money
but
we're
ways
to
use
it,
but
I
think
that
we
can
do
that
same
thing
with
our
housing
policy
discussion
here
like
what,
if
we're
looking
at,
say,
okay
well,
we'll
participate.
Let
me
just
give
an
example:
something
I've
been
thinking
about
if
we
say
we're
going
to
use
that
money
to
help
create
a
project
that
creates
access
to
opportunity
along
North
temple
and
we're
gonna
buy
that.
C
But
what
we're
gonna
do
is
go
in
with
a
public-private
partnership
and
we're
gonna
screed,
a
hundred
units,
thirty
of
which
are
going
to
be
affordable
and
the
other
70
units
will
be
for
sale.
You
know
what
I
mean
and
create,
so
not
only
are
we
creating
affordability
but
we're
creating
a
way
to
stimulate
an
area
in
making
market
rate
units
for
sale
and
creating
long
term
people
that
live
there.
So
I
just
think
that
there's
a
lot
of
ways
that
we
can
have
this
discussion,
that's
just
one
of
them
that
I've
thought
of
that.
B
Ynx
James
I
think
you're
onto
something
I.
Do
wanna
ask
the
attorneys
besides
me
and
Chris,
in
the
room
about
to
James's
example,
kind
of
having
both
both
affordability
and
then,
for
so
are
there
restrictions
on
that
10%
regarding
I
mean
honestly
I
should
know
this,
but
I
think
it's
probably
a
good
question
and
somewhere
in
my
brain,
a
good
question
for
everyone
to
remember
so
I'm
gonna.
Ask
that
question
to
the
attorneys.
Do.
K
You
mind
if
I
I
jump
in
here.
Okay
great,
so
you
may
recall
that
the
10%
that
is
allocated
to
the
Redevelopment
Agency
support
ties
that
affordable
housing,
Utah
code,
17,
C,
1
or
1/2,
which
is
the
list
of
ways
that
the
RDA
can
spend
it's
affordable,
housing
10%
that
it
takes
from
any
other
project
area.
So
what
that
essentially
says
is
that
you
can
spend
that
money
on
income
targeted
housing
within
the
boundary
of
the
agency.
So
it's
not
tied
to
a
specific
project
area.
K
An
income
targeted
housing
is
to
find
it
as
80%
or
below
of
AMI.
So
anything
that
has
to
do
with
that
lending
or
granting
money
for
income
targeted
housing,
buying
property,
promoting
it
in
any
way
replacing
housing
units
as
a
result
of
project
area
development
there's
a
whole
list
there,
but
it's
it's
going
to
be
the
same
as
how
you
use
your
affordable
housing
money
that
you
generate
from
your
project
areas.
K
L
I
C
That's
for
rent
if
they
were
into
the
unit,
so
it'd
be
80%,
ami,
yeah
and
I'm
just
thinking,
because
I
don't
think
that
I've
ever
seen
a
project,
and
this
is
just
one
idea
that
I
thrown
out
there's
a
dozen
more
that
I
want
to
throw
out
too
and
have
that
discussion.
But
this
is
just
one
where
we're
looking
at.
Where
will
we
talk
about?
C
Oh
we're,
built
we're
pumping
apartments
out
were
pumping
apartments
out,
but
we're
not
having
for
sale
units
right
and
we're
hearing
that
we're
not
we're
not
having
long-term
people
that
are
dedicated
to
communities
and
that
there
there
you
know,
there's
a
huge
rotation
or
cycle
that's
coming
in
and
out
with
that
I
just
think
by
creating
a
base
unit
of
saying,
okay!
Well,
we'll
have
these
rental
units
it'll
be
affordable,
but
we'll
have
market
rate
for
sale
to
establish
that
community
and
hold
it
as
a
base.
C
F
I
would
say
absolutely
we
we
could
definitely,
you
know,
do
a
fact-finding
night.
We
could
get
a
bunch
of
professionals
in
the
room
to
start
talking
ideas
as
well
as
have
the
experts
there
to
guide
us
within
the
the
state
statute.
But
to
answer
your
question
you
you
can
absolutely
do
that
where
you
are
putting
RDA
funds
into
a
project
that
has
both
a
mix
of
affordable
and
market
rate
units
and
generally
from
a
best
practices
standpoint.
F
We
usually
just
tie
the
percentage
of
our
funds
into
a
total
project
to
the
total
percentage
of
units
that
are
affordable.
So
the
fact
that
Katie
referenced
the
section
and
RDA
statute
that
provides
you
essentially
the
full
toolkit
of
what
you
as
an
RDA
board,
have
already
been
doing
from
everything
to
property
acquisition
disposition,
the
NOFA
the
loan
program
and
everything
in
between
of
whether
you
want
to
target
rental
or
homeownership
and
I
think
really.
The
biggest
stipulation
is
that
80%
ami
are
below
requirement
for
income
affordability.
F
Within
that
it's
it's
pretty
broad
of
what
you
can
do
so
I.
Think
to
your
point,
director
Rogers.
We
can
do
that
fact-finding
start
setting
up
ideas
and
priorities,
and-
and
you
would
incorporate
that
into
what
we
would
have-
is
our
internal
housing
framework
of
how
you'd
want
to
target
these
funds.
I
E
You're
talking
about
new
new
housing
development,
can
you
use
it
for
energy
efficiencies,
on
current
housing
or
traffic
flows,
or
anything
else
to
improve
the
housing
of
the
area?
But
it's
not
new
building.
That's
for
small
businesses
or
houses,
solar
panels,
just
energy
efficiency,
other
houses
of
that
are
currently
existing.
F
You
can
use
it
on
new
construction
rehab.
You
can
use
it
for
specific
rehab
uses
as
you're
saying,
energy
efficiency
and
Katie
can
chime
in
as
well,
but
I
believe
according
to
state
statute,
you
can
also
use
it
for
infrastructure
improvements
of
that
support
and
provide
for
housing
development.
So
you
can
even
expand
it
a
little
bit
to
to
build
the
neighborhood's
I
think
that
James
is
talking
about
as
well.
I.
E
K
F
D
D
Okay,
so
then
I
think
that
the
the
discussion
would
be
ours.
Is
there
something
that
our
current
framework
in
our
current
current
housing
implement
implementation
policies
are
missing
and
Boardman
Rogers?
If
that
is
like
mixed-income
I,
think
that
maybe
make
sense?
Is
that
something
like
if
that's
what's
missing
or
if
there's
a
geographic
location
that
we're
missing
within
the
current
policies?
I
think
that
would
be
I
guess.
D
F
Think
if
you
wanted
to
prioritize
this
on
a
policy
in
a
program
level,
you'd,
probably
paint
those
brush
strokes,
a
little
bit
more
broadly
of
what
those
overall
objectives
and
goals
are
and
then
on
an
annual
basis.
You
could
tweak
that
on
a
more
micro
level,
of
how
much
you
would
want
to
put
annually
towards
either
targeted
areas
or
opportunities,
uses,
etc,
and
so
I
think
that
gives
you
a
lot
of
flexibility
to
adjust
between.
C
B
J
Yes,
sorry,
just
writing
that
note
about
sending
that
study
out
to
you
all
I
just
want
to
mention,
in
addition
to
the
items
that
Danny
mentioned
in
terms
of
RDA
Housing
Policy
in
the
past.
With
previous
councils,
the
priority
for
housing
has
been
actually
to
not
put
additional,
affordable
housing
on
the
westside.
The
idea
has
been
that
from
what
I
understand
it
that
so
many
is
so
much
affordable.
Housing
is
already
concentrated
on
that
West
Side
that
it
would
be
better
to
to
provide
more
of
it
on
the
East
Side.
J
Now
this
is
a
much
broader
argument,
much
more
complicated
argument
about
how
city
resources
are
distributed
across
the
city,
but
it
looks
like
council
member
sorry
board.
Member
Rodgers
is
nodding
his
head
to
this,
so
I
thought
it
might
be
worth
considering
how
this
ties
in
to
that
broader
council
policy.
If,
indeed,
you
want
to
maintain
that
policy.
C
I
think
that,
because
I
feel
like
this,
money
can
be
a
little
bit
more
specifically
targeted
in
looking
at
areas
instead
of
creating
a
new
RDA
area
to
help
you
know,
stimulate
and
use
that
money.
This
really
is
an
opportunity
for
us
to
really
dive
in
and
figure
out
well
and
forecast,
I
mean
we
don't
really
have
an
idea.
D
Thanks
so
I
think
the
idea
of
home
ownership
on
the
west
side.
D
F
I
think
80
percent,
and
even
you
know,
maybe
down
a
sixty
percent.
You
can
still
obviously
get
that
target
where
people
can.
You
know
you're
not
putting
them
in
home
ownership
where
they
can't
then
afford
it
on
an
ongoing
basis,
which
is
a
concern
as
you
get
to
the
lower
income
levels,
my
understanding
and
so
at
80
percent
I
think
you
still
have
that
opportunity
to
subsidize
and
provide
for
home
ownership
in
a
way
that
is
not
going
to
completely
keep
them
upside
down.
F
Keep
in
mind
that
60
to
80
percent
range
I
mean
that's
still
picking
up
a
lot
of
your
workforce
in
terms
of
your
your
public
safety
officials,
teachers
and
workers,
downtown
so
I
think
where
you
have
that
from
an
income
level,
you're
not
you're,
not
strapping
them
in
a
situation
that
they
can't
support.
So
I
believe
we
can
do
that.
B
I
A
I
C
Just
want
to
go
back
to
the
point
that
there's
so
many
when
you
talk
about
well,
how
are
we
going
to
focus
this
money?
I
mean
you
think
about
it.
We've
got
the
North
temple
RTA
area,
the
Green
Line
that
goes
through
there,
but
we
also
have
the
new
FTN
bus
routes
that
are
on
line
on
the
west
side.
West
East
connectors
right,
so
we'll
have
two
new
bus
lines
coming
along
on
600,
north
and
ten
minutes.
B
Well,
if
there's
nobody
else,
then
I'll
throw
my
two
cents
in
there,
so
touching
on
a
couple
of
things.
First,
this
is
exactly
sort
of
the
discussion
I.
Would
the
preliminary
discussion
I
was
hoping
to
have
because
I
do
think
we
need
some
sort
of
fact-finding
mission.
As
everyone's
aware
RDA
is
working
on
the
house,
the
housing
policy
and
we
kind
of
jennarose
on
here
and
knows
we
kind
of
went
through
this
chicken
and
egg
discussion.
B
Rather,
we
know
that
earlier
I'd,
rather
everybody
be
aware
of
like
what
the
priority
of
hers
is
a
board
of
members
earlier
and
so
I
think
this
is
a
really
great
preliminary
discussion
and
I
am
happy
to
work
with
staff
and
administration
to
set
up
a
future
fact-finding
agenda
item
where
we
can
talk
a
little
bit
more
about
this
and
for
the
new
council
members.
You
know
I
also
think
we
should
look
at.
Are
we
only
going
to
focus
a
percentage
like
all?
Ten
percent
should
stay
on
the
west
side.
B
B
So
I
think
in
part
at
least
that's
where
I'm
coming
from
I'm
not
going
to
speak
for
James,
but
that
the
that
would
really
keep
that
focus
there.
And
so
that's
just
for
some
of
the
newer
board
members
that
weren't
there
during
all
of
that
and
and
saw
the
fight
that
happened.
Do
you
even
get
that
10%?
So
that's
something
to
think
about
and
I
to
the
RDA
staff
and
our
staff.
F
F
Sorry,
it's
short
and
sweet
I
can
tell
you
that,
just
during
this
discussion,
staffs
already
been
texting
and
and
talking
about
what
the
next
steps
can
be.
Obviously
tying
everything
together
between
the
housing,
implementation
framework
with
hand,
the
RDA
framework
for
our
funding
sources
and
then
probably
leading
off
with
kind
of
fact-finding
for
this
of
how
we
would
want
to
separate
and/or
lay
out
the
priorities
for
it.
F
So
we
can
very
much
work
with
with
you,
madam
chair,
and
the
vice
chair
on
what
those
next
steps
can
be
and
set
that
up
and
when
we
can
make
that
happen,
given
the
current
kovat
status
and
issue.
But
we
can
certainly
lay
that
out
and
come
up
with
next
steps
in
a
plan
that
we
can
roll
out
as
soon
as
we're
ready,
I.
B
Appreciate
that
Danny
and
as
always
I,
encourage
board
members
to
share
your
thoughts
and
feelings
with
our
staff,
so
that
that
we
can
really
have
next
time.
This
comes
to
us
there's
questions
you
want
answer
beforehand
that
we
can
have
that
robust
discussion
and
and
create
James
is
absolutely
right.
I
think
we
have
an
opportunity
here
and
we
want
to
take
advantage
of
that
opportunity
as
much
as
possible.
So
please
feel
free
to
reach
out
to
staff
and
and
let's
plan
in
the
future,
to
have
more
of
this
discussion.
B
E
Maybe
I'm
gonna
beat
the
dead
horse
some
more,
but
you
know
the
inland
port
and
the
environmental
style
house
I
think
that's
ten
percent
should
be.
It
should
be
a
lot
of
focus
on
the
west
side
and
the
environment
with
the
housing
and
just
not
say
we're
gonna,
you
know
build
housing,
but
we
need
to
look
at
from
permeable,
driveways
and
other
ways
to
for
the
water
treatment
plant,
the
energy,
the
whole
nine
yards,
not
just
you
know,
bricks
and
mortar.
B
Okay,
great
any
other
final
comments
on
this
agenda
item.
We
are
cruising
right
through
this
agenda
folks,
so
we
are
on
to
number
five,
the
lone
amendment
for
mixed
income:
housing
development
at
17,
49,
South,
State,
Street,
the
Capitol
homes
got
Alison,
Danni,
Tammy
and
Tracy.
So
Alison
did
you
want
to
give
a
little
bit
of
a
background,
or
do
you
want
me
to
turn
it
over
to
one
of
the
RTA
staff?
How.
J
About
I
give
about
a
three
sentence
background
just
to
give
the
broad
overview
and
then
I
know
the
RDA
staff
has
a
more
extensive
presentation.
Does
that
work
so
I'll?
Take
that
as
a
yes.
So
this
is
a
proposed
amendment
to
a
loan
for
development
of
the
Capitol
Motel
property,
which
is
about
17
49,
south
straight
state,
as
well
as
some
adjacent
properties.
J
This
project
was
approved
in
2017
2018
as
a
new
20
point:
five
million
mixed-use
mixed
income
project
with
93
residential
in
2,300
square
feet
of
commercial
space,
a
variety
of
unit
sizes
would
be
offered
and
67%
of
the
total
units
would
be
affordable
at
the
25%
and
55%
AMI
levels.
Now
the
city's
original
loan
was
structured
as
a
two-phase
agreement,
with
the
first
phase,
consisting
of
a
short-term
2.75
million
dollar
loan
for
acquisition
and
pre
development.
H
Okay,
all
right
as
Alison
mentioned,
this
is
a
resolution
that
would
provide
for
a
waiver
of
the
95%
amount
of
value
requirement
for
the
phase
2
loan,
and
this
is
a
little
bit
of
a
more
complicated
seal
structure
than
the
RDA
typically
does
so.
I
wanted
to
provide
some
background,
especially
for
the
newer
board
members,
and
this
is
the
site
of
the
former
capital,
hotel
and
adjacent
properties,
and
these
sites
were
really
identified
in
2017
by
maitika
scoops
East
Blue,
Ribbon
Commission
on
affordable
housing.
H
It
was
the
Commission
that
identified
this
site
as
an
opportunity
for
not
only
the
development
of
new
mixed
income
housing,
but
the
redevelopment
of
a
former
use
that
may
not
be
as
desirable
for
the
neighborhood
as
some
other
uses.
So
it
was
the
Commission
that
identified
these
properties
for
acquisition
and
they
actually
tasked
the
housing
authority
with
getting
these
properties
under
site
control.
The
housing
authority
got
the
properties
under
site
control
on
behalf
of
the
Commission
and
then
began
to
coordinate
with
the
city
on
a
funding
strategy.
H
That's
when
the
RTA
stepped
in
to
work
with
the
Housing
Authority,
and
it
was
actually
as
Allison
mentioned,
housing
assistance,
enterprise,
which
is
the
Housing
Authority's
development
arm
that
ultimately
ended
up
entering
into
a
loan
with
the
RTA
and
purchasing
the
properties.
So
since
the
properties
were
purchased
in
2018,
hame
has
designed
and
financed
assembled
financing
for
the
project.
It
has
resulted
in
the
93
residential
units
with
the
mix
of
affordability.
So
it's
a
mixed
income
and
2300
square
feet
of
ground
floor,
commercial
flex,
space.
H
So
in
2018,
the
occur
by
the
RTA
board,
as
was
mentioned,
was
approved
in
two
phases,
which
is
kind
of
intended
because
we
don't
want
to
provide
long
term
financing.
The
ultimate
project
is,
though,
phase
one
of
the
loan
was
approved
as
a
short-term
loan
acquisition
loan
in
the
amount
of
five
million
for
acquisition
and
only
costs
for
the
project
and
the
term
sheet
that
was
approved
throughout.
H
That
resolution
also
laid
out
the
terms
and
the
conditions
for
the
Phase
two
loan,
which
is
intended
to
be
permanent
financing
in
an
amount
up
to
3.2
million,
and
that's
not
an
additional
3.2.
That's
the
out
standing
balance
of
the
loans
provided
to
Faizal
and
an
additional
amount
up
to
3.2
million
and
the
board
approved
term-sheet
had
a
list
of
conditions
and
contingencies
that
must
be
met
prior
to
entering
into
the
faced
view.
H
Loan,
and
one
of
the
terms
is
that
loan
to
appraised
value
of
95
percent
or
below
so
the
firm's
sheet
attached
the
resolution,
the
conditions
and
contingencies
that
must
be
met
for
faced
view
are
outlined
on
this
slide.
The
project
must
obtain
sufficient
sources
of
honey
which
wants
this
phase
to
loan
or
if
this
base
to
loan
wavers
through
resolution
of
commercial
sign
matters
on
the
property.
There's
a
billboard
on
the
property.
H
There's
actually
I
understand
a
two-year
painting
on
this
billboard
least
Oh
Haim
successfully
designed
a
project
around
the
billboard
and
around
the
required
sight
lines
for
the
billboard.
So
the
project
can
still
the
project
has
completed
an
RDA
design
review
process,
and
then
the
resolution
also
laid
out
requirements
of
the
development
concept
that
required
a
one
third
of
the
units
in
the
development,
the
market
rate
without
a
deed
restriction
which
has
been
complied
with
and
then
the
commercial
space.
H
The
board
approved
term
sheet
lays
out
you
general
terms,
and
these
terms
have
been
refined
based
on
what
has
been
provided
through
the
board
approved
time
sheet.
I'm
about
financing,
as
we
said,
not
to
exceed
3.2
million,
the
term
would
be
20
years
with
the
30-year
amortization
period,
a
1%
interest
rate.
It
would
be
cash
flow
payment,
so
payments
based
on
residual
cash
flow
that
the
project
generates
and
it
would
be
50%
of
cash
flow
hated
as
a
repayment.
H
The
loan
forgiveness
that
was
negotiated,
we
have
negotiated
an
outstanding
balance
of
the
loan,
shall
be
forgiven
at
year,
20
if
the
following
conditions
are
met,
which
would
the
project
has
remained
in
good
financial
standing
and
continues
to
operate
as
intended
with
the
appropriate,
affordable
housing
requirement,
and
this
loan
forgiveness
is
outside
of
our
ta
loan
program
policy.
It
was
negotiated
in
2017
18
at
the
time,
just
because
the
forgiveness,
because
the
Housing
Authority
was
moving
forward
with
this
project,
based
on
a
partnership
with
the
Blue
Ribbon
Commission
on
affordable
housing.
H
So
what
is
in
your
packet
is
for
current
consideration
is
a
waiver
to
the
loan-to-value
requirement,
and
this
is
really
a
requirement
that
does
come
from
the
RTA
loan
program,
but
a
lot
of
times,
affordable
housing
or
pop
projects
or
projects
with
affordable
housing
struggle
to
meet
the
standard.
Just
because
of
the
affordability
restriction
placed
on
the
property.
Limiting
the
value,
as
you
can
see
from
this
chart,
the
project
is
a
print
that
were
market
rate.
H
It
would
meet
an
eighty
seven
percent
loan
to
value
requirement
which
is
well
below
the
ninety
five
percent
threshold
were
looking
at,
but
with
the
affordability
restrictions
jacket
bumps
up
to
you,
a
hundred
and
nineteen
percent.
So
what
you
are
considering
today,
as
I
stated,
is
the
waiver
to
this
loan
to
value
and
if
that's
approved,
the
project
will
move
forward
relatively
quickly
with
demolition.
B
D
Just
a
simple
question:
maybe
simple:
maybe
not
if
the
loan
is
amortized
on
a
30-year
amortization
schedule,
but
the
payments
are
based
on
cash
flow.
How
does
that
work?
I
thought
that
and
again
I'm,
not
a
finance
person,
so
maybe
I
just
don't
understand
it,
but
I
thought
that
an
amortization
schedule
sets
how
fast
how
much
those
payments
are.
Can
you
explain
that
a
little
bit
yeah.
H
H
That's
the
maximum
amount
available
is
50
percent
of
available
cash
flow
to
be
paid
up
to
that
maximum
amounts
that,
through
the
amortization,
I
believe
I,
believe
the
repayment
and
the
Housing
Authority
folks
can
correct
me
if
I'm
wrong
on
this
project
is
a
a
hundred
and
twenty
five
thousand
a
year
around
there.
So
Katie
percent
of
available
cash
flow
is
a
hundred
and
twenty
five
thousand
a
year.
We
would
collect
that
entire
amount
annual,
but.
D
C
L
This
is
Dan
Ackerman.
Can
everyone
hear
me
yeah?
We
haven't
actually
planned
that
space,
yet
I
would
think
this.
His
family,
housing
I
think
one
of
the
amenities
we
have
a
quite
a
few
amenities
on
the
site,
like
raids,
vegetable,
gardens,
a
wellness
room,
an
exercise
room,
a
social
space
with
the
kitchen,
but
I
think
it
would
probably
end
up
some
kind
of
outdoor
amenity
space
like
a
tot
lot
or
something
because
there
will
be
children
at
the
site.
B
A
B
A
L
It's
an
honor
to
to
speak,
especially
to
some
of
the
new
council
members.
I
am
the
executive
director
of
the
Housing
Authority
we're
one
of
3,200
housing
authorities
of
the
US
and
we
house
approximately
10,000
residents
in
Salt,
Lake
Valley.
We
share
the
jurisdiction
with
section
8
I'm,
also
the
president
of
the
hame,
the
501
C
3
and
another
nonprofit
Housing
Development
Corporation.
L
We
have
developed
a
lot
of
9%
projects,
I'm
sure
you've
heard
that
term
in
fact
we're
the
largest
or
now
we're
now
the
second
largest
developer
of
9%
projects
in
Salt,
Lake,
City,
proper
homeboy
properties
just
passed
us
we're
not
too
happy,
but
this
this
will
be
a
beautiful
new
coat
community.
It
was
really
tough
to
assemble.
There
was
a
notorious
motel
that
was
the
bane
of
the
neighborhood.
L
We
purchased
a
tattoo
parlor,
a
somewhat
beloved
shoe
shop,
Steve's
and
two
single-family
homes
and
all
of
those
are
destined
to
be
demolished
in
about
30
days,
we're
proud
to
say
we
carefully
relocated
all
the
residents
and
then,
since
that
time,
we're
proud
to
say,
we've
housed
over
a
hundred
residents
in
the
old
motel,
really
with
just
very
low
rents.
No
government
programs,
no
subsidy,
but
we've
had
no
problems
either
no
crime,
no,
the
new
four-story
building
of
we'll
have
93
units.
Two-Thirds
of
the
units
are
affordable
under
and
and
affordable
to
us
on.
L
Those
two-thirds
means
under
50%
of
ami,
which
is
tough
to
do.
11
of
those
units
are
like,
should
be
under
30%.
I
won't
take
much
more
time
but
I.
We
do
have
some
set-aside
units
for
specific
needs,
such
as
five
units
for
homeless,
five
units
for
victim
of
domestic
violence
for
units
for
veterans
and
12
units
for
those
with
needing
physical
disability
assistance.
L
L
With
that,
with
this
really
is
an
RDA
led
project.
You
were
our
main
financial
supporter.
We,
however,
did
win
the
nine
percent
tax
credit
round
for
this
property.
Very
competitive
round
with
Olli
and
Walker,
which
is
home
funds,
is
contributing
a
million
dollar
loan.
Our
other
lenders
are
key
bank
and
enterprise
and,
of
course,
we
are
having
to
put
a
lot
of
our
own
funds
into
this
as
well.
Unlike
many
other
tax
credit
developers,
another
magical
thing
that
the
Housing
Authority
can
do
is
put
project-based
vouchers
on
these
units.
L
They
call
those
pbv's
and
that
ostensibly
means
20
years
of
guaranteed
subsidy
for
the
affordable
part
of
the
unit's
again.
Some
some
council
members
are
new.
We
just
a
few
properties.
We
recently,
at
least
in
the
last
few
years,
have
developed
I
mentioned
770
South,
Denver
Street
22
units
for
the
severe
and
persistent
mentally
ill,
very,
very
tough
population
to
serve.
We
also
finished
90
90
sloths
a
couple
years
ago
at
444,
South,
900,
East
68th
units
on
the
east
side.
L
I
might
mention
the
68
units
of
affordable
families,
we're
about
to
finish
a
hundred
unit.
Permanent
supportive
housing
site
called
Pamela's
place
at
five
25
South
500
West.
We
have
another
100
unit
site,
they're
called
sunrise
as
Pete
psh,
so
that
we're
calling
that
trendy
new
neighborhood
of
new
homeless
people
v
and
v.
This
in
case
you
hear
that
term
this
this
Pamela's
place
is
our
project.
You
know
we
arranged
it
and
funded
it
and
we
took
all
the
risk
with
our
fantastic
partner,
give
being
of
the
consultant
developer.
L
Other
reason:
we're
really
seeking
approval
of
what
might
seem
like
a
more
risky
loan
is,
as
Tammy
outlined,
understanding
how
difficult
these
types
of
projects
are
to
assemble.
In
this
case,
multiple
partners,
I'm
sorry,
multiple
parcels,
multiple
uses,
successful
attainment
of
that
ten
point:
two
million
the
tax
credit
application
adds
ten
point,
two
million
to
this
formula
and
then
uniquely
leveraging
these
six
to
seven
million
in
project
based
subsidy
and
really,
most
importantly,
serving
those
who
are
often
left
out
and
are
very
hard
to
house.
L
So
normal
appraisals,
as
Tammy
mentioned,
really
don't
capture
the
value
of
all.
We
have
assembled
one
of
the
things
said:
Dave
would
probably
say.
If
you
let
him
talk
which
I
would
suggest
you
don't
know,
I'm
just
kidding.
This
will
be
21
million
dollar
property
when
it's
complete
and
all
of
the
amount
of
debt
on
it
will
be
about
thirteen
million.
So
as
you
can
see
that
the
property
isn't
highly
leveraged
when
it's
finished
and
and
of
course,
even
at
13
million
in
debt,
there's
that
guaranteed
rent
for
a
little
more
than
half
of
rents.
L
So
we
think,
if
there's
a
time
to
help
us
invest
at
an
aggressive
pace.
This
you
know
waving
this
normal
loan
to
value
cap
would
be
a
perfect
time
to
do
this,
because
it's
just
not
a
normal
market
rate
property
and
before
I'm
done
I
I
do
want
to
say.
I
was
listening
to
the
homeownership
portion
of
this
meeting
and
there
we
have
some
creative
ideas
on
that
front
as
well.
B
B
I
appreciate
all
of
the
hard
work
that
you
and
the
organization's
do
in
the
city
of
Salt,
Lake
and
I
really
want
to
thank
you
for
what
you've
been
doing
over
at
the
Capitol
Motel
right
now
for
the
last
year,
probably
maybe
a
little
bit
longer
and
in
housing
people
and
taking
care
of
that
project
and
look
forward
to
this
project.
So
thank
you
for
your
commitment
to
some
of
those
communities
that
that
do
sort
of
fall
by
the
wayside.
Alison
had
a
random.
Yes,.
J
J
A
B
B
E
B
L
Thank
you,
and
thanks
in
particular
to
Tammy,
who
has
shepherded
this
all
the
way
through
and
to
the
other
Danny
I'm,
sometimes
called
Danny,
and
now
there's
a
Dan
on
the
council.
So
I
thought
about
going
by
my
middle
name
James,
but
that's
taken
as
well,
but
anyway,
thanks
to
Danny
and
Tammy,
who
really
helped
tremendously
yeah.
B
B
Tell
you
what
apparently
virtual
meetings
go
by
quicker,
so
we
are
to
item
number
six
report
and
announcements
from
the
executive
director
mayor.
Thank
you
so
much
for
being
here.
She.
K
B
K
The
lights
on
finally,
in
the
basement
here,
no
I
was
really
happy
that
you
just
approved
that
alone.
Just
now
are
the
the
modification
to
it.
It's
gonna
be
a
fantastic
project
and
State
Street
is
hungry
for
that
kind
of
a
change,
so
I'm
sure
that
councilmember
mano
is
happy
about
that
too.
I
hope
so
thanks.
Everybody.
F
Just
two
quick
things
if
I
may
very
much
appreciate
mr.
NACA
men's
comments
also
want
to
say
thank
you
to
Tracy
and
Kimberly
in
the
attorney's
office
for
all
the
work
that
they
did
on
that
project
so
certainly
appreciate
the
time
and
effort
that
everyone's
put
into
getting
that
done
and
ready
for
this
meeting,
also
on
a
thing
console
staff,
because
I
know
we
transmitted
that
late
and
appreciate
the
efforts
that
they
put
into
getting
that
on
the
agenda.
So
thank
you.
F
The
only
other
item
we
have
is
just
wanted
to
update
the
board
that
the
community
engagement
piece
of
the
japantown
visioning
project
is
on
hold,
or
at
least
a
month
due
to
the
coab
it
19
precautions
we
are
working
on
when
a
rescheduled
kick-off
date
would
be
and/or.
If
there's
other
things,
we
can
do
in
the
meantime
on
a
virtual
basis,
but
we
are
reading
that
right.
F
F
We
are
working
on
several
projects
and
getting
them
in
a
position
where
we
can
continue
to
bring
them
to
the
board
and
I
think
we
will
have
some
updates
for
for
chair
and
vice-chair
and
future
meetings
so
that
we
can
keep
those
on
track
so
happy
to
answer
any
questions
on
any
projects
if
board
members
have
them
otherwise.
Thank
you
very
much.
Awesome.
A
Sorry,
just
to
there
was
one
thing:
that's
council
staff.
Sorry
me
forgot
to
follow
up
with
Danny
on
after
our
meeting
with
you
and
yesterday
of
asking
him
to
use
this
time
to
also
once
again
remind
the
public
of
what
the
RTA
is
doing
in
response
to
the
coab
ed
stuff.
So
we
did
talk
about
it
in
the
council
meeting
session,
but
maybe
just
talking
about
it
in
case
anyone's
only
tuning
in
in
the
RDAs.
A
F
Jen,
thank
you
for
that
reminder.
Think
we've
just
kind
of
taken
the
position
that
those
updates
have
been
going
on
through
the
city
and
the
larger
city
message
that
the
mayor
has
been
doing
along
with
the
council,
so
I
appreciate
the
opportunity
to
speak
to
that.
We
as
an
RTA
have
done
two
things.
First
and
foremost,
we
have
followed
the
mayor
and
the
city
proclamation
of
we
have
waived
the
payments
that
we
receive
as
a
landlord
Mar
10,
instead
of
which
are
small,
locally
owned
businesses
as
well
as
nonprofits.
F
So
we
certainly
appreciate
the
direction
from
the
mayor
on
that,
as
well
as
for
the
agency,
we
have
several
projects
that
are
loans
and
we
have
deferred
those
loan
payments
or
up
to
90
days
at
least
initially,
and
we
have
asked
that
the
property
owners
and
the
developers
to
the
extent
that
it's
applicable,
if
they
have
other
tenants
that
they
pass
those
waivers
on
to
their
tenants,
so
that
the
small
businesses
can
can
get
a
little
bit
of
relief
from
from
that
obligation.
And
so
we
will
continue
to
monitor
that.
F
But
that
is
something
that
at
least
from
an
agency.
We
we
rolled
out
immediately
and
tried
to
help
in
in
just
that
small
way.
So
again,
thanks
for
the
opportunity
to
speak
to
that-
and
we
are
deferring
a
lot
to
the
work
of
the
mayor
as
well
as
our
larger
department,
economic
development
and
the
work
they're
doing
in
terms
of
just
trying
to
come
up
with
ways
that
we
can
help
provide
assistance
any
way
we
can.
B
I
You
have
something
I
just
wanted
to
follow
up
with
Danny
and
and
and
the
mayor's
efforts
and
for
the
public.
I
think
you
know.
Economic
development
started
with
deploying
a
million
dollars
that
we
had
your
budget
and
to
help
small
businesses
with
those
loans,
and
then
there
are
the
a
followed,
and
in
you
know
what
Winn,
what
we
would
have
done
with
a
deferral
helps
a
lot.
It
helps
small.
I
I
The
girls
but
I-
think
it's
important
so
that
the
public
recognizes
that
the
city
might
not
be
a
lending
institution
like
a
bank
and
other
you
know
in
other
institutions,
but
we're
trying
to
do
our
best
to
help
as
much
as
we
can,
and
this
is
some
of
the
tools
that
we
have,
and
this
is
why
we
look
at
budgets,
and
this
is
why
we're
able
to
do
it.
So,
thank
you.
Danny
I'll
be
a
staff
and
the
mayor
for
for
making
this
happen.
K
Thank
you,
I.
Thank
you
on
a
or
board
member
Paul,
tomorrow's
that
I
think
that,
as
we
go
deeper
into
this
Cove
'add
pandemic
and
the
aftermath
of
it
that
we're
going
to
hopefully
see
more
and
more
opportunities
where
we
can
use
our
dynamicism
as
an
entity
both
as
an
RDA
and
as
a
city
to
like
fill
gaps
that
just
couldn't
be
reached,
or
that
would
take
too
long
by
others.
K
So
I
just
think
it's
there's
so
many
ways
like
with
the
the
budget
amendment
that
was
coming
up
through
the
city
that
gave
us
some
one-time
funding.
We
could
set
aside
for
this,
but
also
that
this
administration
and
you
all
are
working
together
so
collaboratively
I
think
we
are
in
such
a
unique
position
to
be
able
to
respond,
respond
to
needs
and
create
new
ways
to
do
it.
Then
we
have
ever
been
before
so
I'm,
really
grateful
for
you
all
working
with
us
and
I.
Think
anytime.
We
stand
things
up
quickly.
K
We
pretty
quickly
after
how
we
could
do
it
better
the
next
time,
and
so
we
appreciate
your
you
know,
giving
us
the
benefit
of
the
doubt
and
working
wants
us
to
adapt
as
we
go
and
and
know
that
our
intentions
are
to
serve
the
city
in
the
best
way
we
can
so.
Thank
you
all.
B
Thank
you,
Mary
was
very
nice.
Thank
you
and
you're
right.
This
is
a
very
collaborative
group
and
I'm
grateful
for
it.
I
think
that
Danny
had
one
other
thing
that
accurate
I.
F
Did
thank
you,
madam
chair
I,
just
wanted
to
do
an
update
and
and
another
quick
shout
out
to
staff
we.
We
have
actually
been
working
despite
everything
going
on
with
Kovan
and
the
city
processes
all
turning
virtual
and
telecommuting.
We
have
still
managed
to
close
two
loans
versus
the
the
Jefferson
Street
Apartments
and
then
the
other
should
hasn't
technically
closed,
but
we've
done
everything
and-
and
it
should
close
any
day,
the
diamond
rail
apartments
that
the
board
approved
back
in
where
we
at
now
I'd
be
worried.
F
So
that's
ready
to
go
too
so,
at
least
on
those
small
scale
developments.
They
are
still
proceeding.
We've
gotten
our
money
out
the
door
or
put
ourselves
in
a
position
to
start
funding
and
the
developers
are
eager
to
get
them
going
so
a
little
bit
of
good
news
there
that
that
some
things
are
actually
taking
advantage
of
it
and
still
moving
forward
so
wanted
to
let
the
board
know
a
quick
update
on
that
as
well.
Thank
you,
Thank.
B
You
Danny
I
appreciate
that
all
right
we
have
no
new
businesses,
I
think
that
was
what
was
the
next
thing
on
my
list.
Oh
no
written
briefings,
I'm
sorry
and
then
we
have
several
items
on
our
consent
agenda
I
want
to
ask
if
there's
any
questions
or
might
regarding
many
of
these.
If
there
are
no
questions
and
I
look
for
a
motion.