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A
A
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801-535-7654
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A
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Points
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View,
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A
A
A
C
D
A
C
F
A
Eschler
in
a
while,
okay,
all
right,
so
that
passes
five
to
zero,
with
two
absenties
we're
moving
on
to
item
C2
and
it's
a
resolution.
It's
the
RDA
budget,
amendment
number
two:
for
fiscal
year
2022-23
and
at
the
table
we
have
been
lucky,
which
is
our
budget
and
policy
analyst
Danny
Walls,
the
RDA
director,
Eric
Cunningham
financial
analyst
and
Mary
Beth
Thompson,
the
Chief
Financial
Officer.
A
G
Thanks
Madam
chair:
this
is
the
first
briefing
for
RDA
budget
amendment
number
two.
There
are
four
items,
one
of
which
is
board
added.
The
total
expenditures
are
slightly
over
five
and
a
half
million
dollars,
and
this
would
impact
several
project
areas
and
funds
and
a
note
at
the
end
of
the
staff
report.
There
are
project
area,
expiration
dates
as
well
as
allowable
uses
of
agency
funds
in
case
the
reference
is
helpful,
since
those
questions
often
come
up.
G
The
first
item
is
a
four
million
dollar
Gap
loan
for
spark
project.
This
is
the
former
overnighter
Motel
1500
West
North
Temple.
The
board
had
a
briefing
last
month
at
sept
at
the
September
meeting,
where
the
seller's
note
was
approved
for
the
land
disposition
and
a
unanimous
straw
poll
was
taken
in
support
of
this
loan.
So
this
is
the
follow-up
item
that
you
already
discussed
at
the
last
meeting
and
the
funding
sources
are
three-fold.
I
thought
it'd
be
helpful
to
put
this
up
on
the
big
screen,
and
it's
already
there.
Thank
you
Scott.
G
You
can
see
the
total
amount
is
in
the
requested
column.
This
is
second
from
the
right.
So
it's
taking
one
and
a
half
million
from
property
acquisition
in
the
housing
fund
which
would
leave
ninety
nine
thousand
dollars
left
another
one
and
a
half
million
from
the
North
Temple
strategic
intervention
fund,
which
would
still
have
a
balance
of
1.4
million
for
future
opportunities
in
the
area
and
last
is
the
housing
development
loan
fund.
So
one
million
dollars
from
that
account,
so
there
would
still
be
six
million
for
the
nofa.
This
fall.
G
The
next
item
is
a
request
for
almost
forty
seven
thousand
dollars
from
the
RDA
Administration
budgets
fund
balance.
It
has
its
own
separate
fund
balance
for
market-based
salary
adjustments
for
non-represented
employees.
You
may
remember
this
from
a
recent
budget
amendment,
because
the
same
thing
happened
for
the
airport,
and
this
was
also
included
in
the
annual
budget
for
general
fund
employees.
There
was
a
salary
study
done
that
looked
at
non-represented
employees,
current
salaries
compared
to
Market,
to
ensure
they
would
be
competitive
to
support
retention,
hiring
of
employees.
G
The
results
were
not
available
in
time
for
some
Enterprise
fund
budget
developments
earlier
in
the
year.
That's
why
this
is
appearing
in
a
budget
amendment
and
the
same
thing
happened
for
the
airport
and
a
note
that
the
adjustments
are
for
nine
months
of
this
fiscal
year.
So
they
begin
this
month
moving
forward.
This
was
the
same
for
general
fund
employees.
G
This
contract
is
currently
held
by
the
University
of
Utah,
and
this
funding
would
allow
the
contract
to
be
transferred
to
the
RDA,
as
well
as
revising
the
scope
of
work,
so
that
some
of
the
deliverables
would
be
specific
to
the
rda's
priorities.
The
current
scope
of
work
has
some
items
specific
to
the
University
of
Utah
that
wouldn't
be
needed
if
it's
transferred
to
the
RDA.
G
G
Taking
this
additional
250
000
out,
there'd
be
about
a
nine
and
a
half
million
dollar
Gap,
and
we
can
talk
about
ways
to
fund
that.
But
the
study
would
also
look
at
ways
to
fund
that
the
other
two
hundred
and
fifty
thousand
dollars
would
come
from
the
Central
Station
improvements
budget
and
there's
two
maps
in
the
staff
report
and
I'll
ask
Scott
to
go
through
them
on
the
big
screen:
real
quick
because
Central
Station
and
station
Center
are
different
and
they're
next
to
each
other.
So
I
thought
a
visual
would
be
helpful.
G
So
if
we
then
zoom
out
and
go
to
the
second
map,
it
shows
Central
Station,
and
this
is
a
mix
of
properties
owned
by
UTA
and
the
RDA.
The
rda's
properties
are
focused
on
100
south
between
I-15
and
600
West.
It's
the
parcel
that
kind
of
looks
like
a
shark
fin
and
then
the
two
squares
below
it
and
the
one
above
it
have
multiple
UTA
properties.
G
The
revised
scope
of
work
has
several
items
a
through
h
and
Scott.
If
you
can
put
those
up
on
the
screen,
I
thought
it'd
be
helpful
to
have
those
available.
There's
a
few
policy
questions
if
you
wanted
to
review
the
individual
items
and
the
scope
of
work
before
approving
this
item.
Of
course,
this
is
not
up
for
a
vote
today.
So
there's
time.
G
It
is
possibly
reflected
or
implied
in
some
of
the
items
that
are
there,
but
given
how
many
times
ground
leasing
has
come
up
as
an
interest,
we
thought.
Maybe
you
want
to
explicitly-
have
that
as
a
development
scenario,
and
the
last
policy
question
is
the
the
Consultants
did
conduct
some
initial
work
under
the
contract
and
we
could
probably
get
a
list
of
which
stakeholders
they
reached
out
to.
So
if
the
board
had
additional
persons
or
organizations
you
wanted
to
recommend,
they
could
be
passed
on
to
the
consultants
for
the
next
phase
of
work.
F
G
G
G
Parks
impact
fees
are
the
largest
funding
source
and
I
thought.
It
was
worth
pointing
out.
The
Arctic
Court
infill
home
previously
had
338
thousand
dollars
that
was
transferred
to
this
project.
So
the
policy
question
is:
if
the
project
is
completed
under
budget,
the
board
may
be
interested
in
directing
that
funding
to
go
back
to
the
Arctic
Court
in
Phil
home.
Since
the
last
discussion,
the
board
identified
that
as
a
priority
project
that
you
wanted
to
fully
Fund.
In
the
future,
but
we
won't
know
if
funding
is
left
until
the
project
is
completed.
C
Yes,
I
just
go
back
to
your
your
policy
questions
and
yeah
I'd
like
to
get
some
answers
on
it
and
I
do
want
to
make
sure
that
we
follow
up
on
the
the
idea
of
the
ground
lease
I
know.
We
had
that
discussion,
but
I'd
like
to
the
more
formalize
that
put
that
in
the
the
plan-
okay
and
then
just
one
more
question
on
the
impact
fees.
You
know
they
always
have
a
expiration
date
on
these
fees
is
what
is
the
expiration
date
on
this
2.1?
G
C
G
F
But
remember
that
it
is
a
waterfall
approach,
so
income
impact
fees
are
difficult
to
understand
a
little
bit,
so
the
revenue
comes
in.
If
we
spend
it
someplace
else,
it's
not
by
by
project.
If
we're
spending
someplace
else
faster,
then
we're
going
to
spend
this
funding,
then
it
just
gives
us
more
time
to
spend
this
funding.
It's
a
first
in
first
out
waterfall
approach
on
the
revenue
side.
B
I
A
What
what's
the
impact
you
know
in
our
city
and
so
that
we
know
what's
the
best,
you
know
option
out
there
for
us?
Is
it
Leasing
and
holding
on
to
the
property
or
is
it
selling?
So
we
could
pay
for
other
things,
but
Etc.
So
I'm
excited
to
look
at
this
study
a
very
comprehensive
one
and
also
I.
Think
at
a
small
group
meeting
we
talked
about
almost
like
an
implementation
plan
like
we
don't
want
just
an
idea
and
a
concept
of
what
could
be.
A
We
want
to
have
options
for
this
board
to
make
decisions
and
start
implementing
as
soon
as
possible
this
Acres,
because
it's
been
sitting
there
for
for
quite
some
time
and
then
and
then
that's
that's
my
only
comment.
Anybody
else.
Okay,
all
right,
I,
guess
we're.
Moving
on
from
item
two
to
item
three,
thank
you
presented.
A
F
F
There
is
one
RDA
staff
policy
question,
which
is
whether
the
board
is
interested
in
deed,
restricting
adus
that
are
part
of
this
financing
project
to
ensure
affordability
for
low-income
renters,
I
added
a
couple
other
Council
staff
questions
in
the
memo,
including
that
the
current
amount
of
RDA
funding
is
394
000
in
the
housing
account
of
the
RDA,
so
that
would
cover
about
seven
projects
at
fifty
thousand
dollars
each.
If
that
were
the
financing
amount.
So
just
to
give
you
a
ballpark
the
account
the
board
may
wish
to
think
about
that
as
well.
F
Every
spring
you
allocate
the
amount
of
money
in
the
different
housing
funds,
but
of
course,
you
have
discretion
to
move
those
amounts
around
anytime.
That
makes
sense
to
you.
The
other
question
I
think
touches
back
on
the
discussions
that
some
of
you
have
had
with
the
consultants
for
the
thriving
in
place
study
and
how
this
Adu
financing
or
any
Adu
financing
program
might
fit
into
that
framework.
H
I
think
so
awesome
so
so,
like
she
said
today,
we
want
to
talk
to
you
about
a
Adu
financing
program
that
we're
looking
at.
We
want
to
get
your
input
so
that,
as
we
put
together
a
request
for
qualifications
and
potentially
partner
with
another
group
that
we
can
bring
back
to
you
a
program,
that's
that's
going
to
be
something
that
you
will
you'd
like
to
see.
So
today's
informational,
we
want
to
get
your
feedback
on
how
you
think
this
program
should
be
put
together.
So
let's
go
to
the
next
slide.
H
D
H
Yeah,
so
he
told
me,
financing
financing
is
the
biggest
hurdle
and
that's
you
know
that
that's
different
in
a
lot
of
cities,
the
biggest
hurdle
is
zoning
Salt
Lake
City
is
a
bit
more
Progressive
in
that
we
allow
adus
in
a
more
relaxed
way.
So
the
next
Frontier
basically
is
financing.
Could
we
go
to
the
next
slide
and
the
next
slide?
H
H
And
adus
are
also
encouraged
on
the
west
side
in
the
city's
West
Side
master
plan.
It
says:
Salt
Lake
City
should
expand
accessory
dwelling
units
in
the
west
side.
Let's
go
next,
but
there's
one
problem
that
we're
seeing
and
and
that's
that
the
geographic
distribution
of
Adu
construction
is
is
very,
it's
very
different.
H
H
H
So,
just
like
we
see
here
on
the
slide,
the
home
value
is
generally
less
than
single-family
homes.
On
the
east
side,
the
household
incomes
are
generally
a
little
bit
less.
The
lot
sizes
are
generally
large,
so
they
can
fit
adus
89
percent
of
the
land
area.
The
residential
land
area
in
this
project
area
is
zoned
for
single-family
housing.
H
The
family
sizes
are
generally
larger
here.
This
area
has
experienced
redlining
in
the
past,
so
people
were
not
able
to
access
the
type
of
financing
the
others
were,
and
then,
lastly,
if
we
launch
an
Adu
financing
program
in
this
area,
then
the
County's
tax
participation
and
in
the
tax
increment
will
be
higher
at
the
end
of
the
fifth
year.
So
we'll
get
more
money
back
by
launching
this
program.
H
H
There
are
some
challenges
that
people
are
facing
as
they're
building
adus.
Some
of
them
are
through
current
zoning,
such
as
setbacks,
maximum
Adu
sizes,
height
limits,
conditional
use,
permits
and
I
know.
The
planning
department
is
working
on
a
proposal,
they've
got
it
through
the
Planning,
Commission
and
they'll
be
bringing
that
to
you
all
that
would
address.
Basically
all
those
concerns.
The
next
thing
that
people
are
facing
a
challenge
to
ad
construction
is
just
the
cost
of
building
these
units.
H
We've
held
about
13
14,
different
interviews
with
homeowners,
Adu
Builders
Architects
talking
with
them
about
the
cost
nowadays,
and
people
are
paying
between
a
hundred
thousand
and
two
hundred
and
fifty
thousand
dollars
to
build
an
Adu.
That's
that's
about
how
much
it
costs
to
build
a
single
family
home
a
few
years
ago.
So
it's
really
getting
up
there
and
the
financing
options
are
pretty
limited
for
people.
You
can
do
a
Cash
out
refinance,
but
with
that
you
have
to
have
significant
home
equity
and
then
same
thing
with
a
home
equity
line
of
credit.
H
That
really
is
only
possible
with
significant
home
equity.
Let's
go
the
next
slide
and
to
update
you
on
work
that
staff
has
done
just
in
preparation
for
putting
this
program
together.
We
have
interviewed
different
stakeholders
from
Architects
to
builders
to
to
homeowners
that
are
building
adus.
We've
looked
at
different
financing
programs
around
the
country.
H
These
are
some
of
the
goals
that
the
staff
hopes
to
see
in
in
the
Adu
program
and
we'd
like
to
you
know,
get
your
input
on
this
later.
On
too,
we
want
to
see
in
this
program
an
increase
in
the
in
supply
of
naturally
affordable
rental
housing,
because
we
know
that
adus
are
typically
rented
at
more
affordable
rates
than
commercially
built
rentals.
A
lot
of
them
are
rented
to
friends
and
family
at
a
discount
yeah.
We
hope
that
this
program
will
increase
density
in
the
lower
density
areas
of
the
nine
Lane
project
area.
H
Some
of
the
things
also
that
we
want
to
see
in
this
program
is,
we
want
to
see
it,
provide
loans
or
grants
to
homeowners.
We
want
to
see
landlord
training
in
this
so
that
people
can
can
rent
in
a
in
a
good
way.
We
want
to
see
either
attached
or
detached
financing.
You
know
on
the
adus,
we
want
to
see
cost
cutting
strategies
and
maybe
that's
a
mass
purchase
of
manufactured
adus.
H
We
hope
to
see
compliance
monitoring
if
we
need
restrict
the
adus
and
then
ideally,
we
want
to
see
affordability
also,
and
that
could
be
either
that
we're
giving
loans
to
low
income
homeowners
or
it
could
be
that
we're
providing
deed,
restricted,
affordable
housing
to
low-income
tenants.
Let's
go
next
slide,
as
we
talked
with
the
Redevelopment
advisory
committee.
These
are
the
suggestions
that
they
gave
us.
H
They
thought
we
could
look
into
utility
connection
subsidies.
People
are
paying
generally
ten
to
thirty
thousand
dollars
for
site
work
and
hooking
up
to
utilities,
so
they
thought
maybe
there's
a
way
that
we
can
have
those
fees
waived
or
that
we
can
pay
for
that.
We'll
repeat
that
again,
the
utility
connection
subsidy
yeah,
so
so
generally,
people
are
paying
between
ten
and
thirty
thousand
dollars
to
hook
up
to
utilities.
H
H
They
suggest
that
we
contact
homeowners
that
are
building
adus
near
the
nine
line
project
area,
and
so
we
did
that
and
I
found.
Four
people
who
received
conditional
use,
permits
and
I
contacted
all
of
them.
Sadly,
none
of
them
have
been
able
to
build
their
adus
yet,
and
a
lot
of
that
is
because
of
cost
and
financing.
H
A
H
H
Okay,
as
far
as
next
steps
after
we
have
this
discussion
with
you
after
we
get
your
input,
we're
going
to
flesh
out
the
RFQ
and
then
publish
it
by
the
end
of
the
year.
Hopefully,
we'll
find
a
partner
that
we
can
work
with
on
this
program.
Maybe
we'll
end
up
doing
it
ourselves.
It
depends
on
what
we
work
out
and
then,
as
we
put
together
a
program
proposal,
we'll
bring
it
back
to
you
for
your
discussion
and
for
your
approval.
H
So
let's
go
to
the
next
slide,
and
this
is
the
this
is
the
big
question
that
we
have
for
you
all
is
we
we
can
Target
these
loans
in
in
two
different
ways
or
in
both
ways
one
is
we
can
we
can
Target
them
to
the
homeowners?
We
can
give
the
loans
to
low-income
homeowners,
moderate
income,
homeowners
and
let
them
rent
the
adus
at
market
rate,
and
what
this
does
is
it
might
open
up
more
homeowners
that
are
willing
to
do
the
build
an
Adu
because
they're
not
encumbered
by
a
deed
restriction.
H
H
The
downside
to
this
is
that
the
ads
can
be
rented
at
whatever
price
they
choose,
and
so
it
might
be
a
high
price
that
could
be
difficult
for
low-income
renters
to
pay
so
or
or
we
can
Target
these
loans
to
to
low-income
renters
by
deed,
restricting
them.
The
the
plus
side
is
obvious
that
the
rents
would
be
lower.
We'd
have
more
housing,
affordable
housing
for
low-income
people.
The
downside
is
that
it
might
cost
the
RDA
a
lot
more
money
to
do.
H
This
we'd
have
to
put
up
some
sort
of
subsidy
to
make
it
pencil
and
then
also
we
might
have
fewer
people
that
are
willing
to
take
us.
Take
this
project
on
because
of
the
restrictions
that
come
in
touch
with
it.
So
we'd
like
to
get
your
thoughts
on
that
which
one
of
the
two
you
think
we
should
Target
and
then
any
other
thoughts
and
input
you
have
as
we
develop
the
RFQ
for
this
program.
C
C
H
C
H
C
And
so
I'm
kind
of
targeting
more
in
the
homeowners
side
of
the
house
and
looking
at
hey,
they
already
have
equity
and
they're
growing
wealth
and
they
bought
a
home
and
they're
taking
care
of
that.
We
want
to
help
them
continue
that
with
a
low
interest
loan
or
zero
interest
loan,
and
then
the
question
would
be.
Is
it
a
like
a
normal
mortgage
where
it's
a
20-year
loan,
or
is
it
a
10-year
loan?
C
So
if
it's
a
20-year
loan,
you
know
the
payment's
lower,
so
they
actually
start
gaining
wealth
earlier,
because
they're
not
paying
all
that
money
out
in
the
interest
up
front
and
I'll
and
if
there's
other
not
any
other
questions.
I
had
one
more
question
on
more
on
the
the
deed
restriction
and
the
market
rate.
C
The
market
rate
is
probably
already
slightly
lower
because
the
homeowners,
if
it's
in
the
nine
line
area,
has
a
income
threshold
and
probably
the
neighborhood
rent
may
be
lower,
so
I
think
I,
wouldn't
I
would
lean
more
at
market
rate,
allow
a
market
rate,
Vice
City
restriction,
because
I
think
the
deed
restriction
could
be
cumbersome
to
someone
who
wants
to
do
it,
especially
if
it's
English
is
your
second
language
that
could
just
get
complicated
I'm
not
going
to
do
that
and
I
just
I
always
want
to
rent
it
out.
So
that's
that's
more.
H
D
You
I
have
a
few
questions.
I,
you
know,
adus
I
believe
is
a
great
tool
for
our
city
and
we
need
to
expand
the
use
and
I
I
feel
like
not
only
the
west
side,
but
especially
the
west
side
has
an
incredible
opportunity
there,
with
the
space
that
we
have.
Our
lots
are
gigantic
in
most
cases,
and
it's
a
good
opportunity
to
keep
people
in
the
west
side
and
and
allow
people
to
to
build
wealth
in
our
communities.
D
I
want
to
add
another
thing
to
this
idea,
and
you
talked
about
the
hookup
cost.
You
know
to
utilities:
30
50,
000
bucks
and
Denver
they're
working
on
they've
been
working
on
for
a
couple
years
now
on
working
with
developers
that
are
interested
in
building
adus
to
pre-submit
their
architectural
designs
to
the
city,
then,
just
basically
the
city
saying:
okay
yeah,
this
one
is
approved.
This
one
is
approved
this
one's
approved.
This
way.
Some
changes
then
approved
that
way
caught
reducing
the
cost
of
the
or
the
Adu
from
the
beginning.
D
So
I,
don't
know
how
we
do
that,
but
it
has
been
done
so
I
feel
like
we
can.
If
Denver
is
doing
I
bet,
we
can
do
better
than
that.
Hopefully
you
don't
hear
me
that
and
saying
that,
but
so
that's
I
believe
that
that's
a
good
way
of
reducing
that
and
there
are
they're
pairing
their
program
with
a
loan
program
too
similar
to
this
in
Denver.
D
Minority
houses,
the
people
of
color
you
know-
are
going
to
speak
for
all
of
them,
but
I
in
in
general
tend
to
have
multi-generational
households,
and
one
of
the
reasons
for
moving
is
because
of
not
having
the
space,
and
then
they
have
more
space.
You
know
in
in
a
forward
way
a
smaller
City
somewhere
that
which
creates
all
sorts
of
other
problems
right
by
moving
far
away
travel
times,
and
all
this
and
I
I
believe
that
there
are
the
core
of
the
community.
D
So
that's
how
I
will
approach
it,
but
I
I
do
think
that
whatever
way
of
streaming
streamlining
and
standardizing
the
process,
including
our
permitting
process
to
save
costs
and
time
because
time
is
another
problem
with
adus,
sometimes
is
important
to
me
and
in
addition
to
this
loan
program,
so
I
will
be
very
supportive
of
this,
especially
if
all
of
this
is
combined
in
one
packet.
That
makes
sense
yeah
totally.
Thank
you.
B
Go
ahead.
Thank
you,
madam
chair.
A
couple
of
things.
So
the
Adu
menu
That's,
what
I'm
going
to
call
that
which
Alejandra
just
brought
up
I,
believe
and
I-
don't
see
Nick
Norris
in
here,
but
I
believe
that
from
the
city
standpoint,
we're
sort
of
already
looking
at
something
like
that
and
where,
because
that
has
come
up
already
from
the
city,
standpoint
and
I,
think
it's
important
to
remember.
We
already
have
an
ordinance
that
this
would
have
to
follow.
B
H
J
B
I
think
it's
agreed
and
I
know
that
we've
been
working
on
the
tweaking
of
the
Adu
ordinance
as
a
city
and
again
this
is
one
of
the
things
that
have
come
up
right
that
it's
too
expensive
to
get
through
the
permitting.
If
you
can
watch
in
in
like
McDonald's
pick
which
Happy
Meal
you
want,
then
you
can
build
an
Adu
right
for
cheaper
I.
B
I
am
going
back
to
The
Who
to
Target
the
homeowners
or
the
home,
renters
and
I
feel
like
there's
got
to
be
a
way
to
do
both
where,
if
the
situation
is
such
that
I
mean
there
has
to
be
a
way
to
do
both
I
believe
in
you
as
RDA,
that
you
can
come
up
with
Creative
Solutions
to
solve
both
of
those
answers
and
looking
at
the
deed
restriction.
Also.
B
Similarly,
right,
I
think
that
one
of
the
cons,
as
you
pointed
out
for
deed
restriction,
is
that
it
actually
could
hinder
intergenerational
wealth
right
if
you
actually
have
somebody
that
is
trying
to
create
some
generational
wealth
here,
but
you're
deed,
restricted,
you're
hindering
any
of
that.
So,
of
course,
that's
not
what
we
want
to
do
yet,
on
the
other
side
of
this
coin,
I
serve.
We
certainly
don't
want
to
have
a
bunch
of
very
wealthy
developers,
come
in,
buy
up
things,
build
adus
and
not
have
it
deed,
restricted.
B
we
are
building
adus?
Is
that
a
place
that
we
should
have
some
deed
restriction?
If,
if
we
were
to
take
this
program
pilot
it
through
RDA
create
more
of
that
shouldn't,
we
maybe
think
about
having
some
deed
restrictions
in
these
areas
where
it's
unaffordable
and
unattainable.
Anyway.
Right
so
kind
of
looking
at
this
in
a
broader
scope
of
getting
all
of
it,
because
why
not
have
it
all.
H
Yeah
and
and
staff
has
thought
about
this,
exactly
we'd
like
to
Pilot
it
in
the
nine
line,
but
there's
so
much
potential
to
build
affordable,
adus
in
high
opportunity
zones
with
us,
because
so
much
that
the
land
over
there
zoned
single
family
and
you-
you
can't
do
much
besides
adus,
but
if
we
could
sprinkle
affordable
adus
throughout
these
high
opportunity
areas.
It's
a
great
potential
to
increase
affordability.
A
F
Was
just
going
to
mention
the
enforcement
angle
at
some
point?
If
there's
going
to
be
deed
restrictions
or
not,
if
there's
going
to
be
rent
price
to
script,
restrictions
or
not,
enforcement
will
have
to
play
a
part
in
that
and
I
think
you
know
the
city
is
looking
at
enforcement
on
several
of
the
housing,
affordability
and
and
anti-displacement
policies.
So
that
might
be
something
to
keep
in
mind
too.
It
could
be.
A
cost,
could
end
up
being
less
of
a
cost,
but
there's
going
to
be
some
cost
involved.
C
Thank
you
back
on
to
the
loan
side
of
the
house,
so
we're
we're
offering
maybe
a
lowing
or
zero
interest
loan
for
the
Adu.
Is
there
a
requirement
that
the
aid
you
have
an
Energy
Efficiency
rate
rating
so
that
it
is
you
know,
I,
don't
want
the
cheapest
Adu
put
up
that
has
really
a
low
energy
efficiencies.
I
wanted
a
very
efficient
Adu
put
in
and
with
a
very
low
interest
rate,
because
that's
going
to
be
a
higher
value
to
that
homeowner
for
the
long
term.
Yeah.
H
C
J
A
A
J
I
The
microphone
here,
Allison
and
I,
are
here
to
speak
on
behalf
of
what
have
been
efforts
by
others,
notably
our
City
attorney
Katie
Lewis
and
your
own
Jen
Bruno.
As
part
of
this
discussion,
I'm
going
to
say
it's
an
honor
to
represent
them,
but
I
really
just
think
we
drew
the
Short
Straw
on
the
assignment,
but
we
will
do
our
best
to
address
the
item
and
provide
details
and
happen
to
answer
any
questions
to
the
best
of
our
ability.
I
So
I
think
Allison
has
asked
that
I
lead
off
and
then
she's
going
to
jump
in
and
correct
anything
I
say
wrong
or
provide
more
detail
to
to
make
me
sound
more
intelligent.
So
the
item
in
front
of
you
today
is
essentially
two
resolutions
that
you
will
ultimately
consider
both
as
the
RDA
board
and
the
city
council.
I
And
all
of
this
is
relevant,
because
what
we're
talking
about
today
is
amending
those
two
interlocal
agreements
to
provide
for
the
fact
that
what
was
originally
anticipated
of
upacca
and
that
entity
carrying
the
property
and
liability
insurance
for
the
theater
is
now
instead
going
to
be
carried
by
the
county
jointly
with
the
city
and
the
RDA
continuing
to
be
involved.
But
the
county
has
been
selected
to
essentially
be
the
provider
and
holder
of
that
insurance
policy.
The
reason
for
that
is
twofold,
first
and
foremost,
is
what
was
originally.
I
The
structure
of
upaca
has
changed
a
little
bit
in
terms
of
what
this
now
day-to-day
and
ongoing
structure
and
management
of
the
theater
is,
and
the
second
reason
is
because,
quite
simply,
there's
a
cost
savings
from
having
the
county
or
the
city
hold
it
rather
than
an
independent
interlocal
entity
carry
the
insurance.
The
first
point
as
far
as
the
alignment
is
originally
when
the
theater
was
set
up,
it
was
anticipated
that
you
pack
would
also
be
technically
the
owner
of
the
theater
and
would
hold
the
asset
of
the
theater.
I
And
since
the
creation
of
that
entity
and
further
discussions,
it
seemed
to
make
more
sense
for
all
of
us,
City,
County
and
RDA
to
not
necessarily
transfer
the
asset,
because
we
primarily
the
RDA
and
even
others
continue
to
carry
the
liability
for
the
bonds
and
The
Debt
Service.
So
we
felt
it
was
more
appropriate
to
carry
this
asset
split
it
between
the
three
entities
and
a
proportion
that
relates
to
what
is
our
level
and
share
of
that
debt.
I
So
our
balance
sheet
isn't
completely
skewed
for,
for
the
entire
time
we
own
the
theater,
so
that
shift
in
how
we
looked
at
how
to
hold
the
asset
has
also
now
led
into
other
conversations
like
this
of
who
really
should
then
be
providing
the
insurance
and
rather
than
you
pack
a
doing
it.
It
makes
more
sense,
since
we
have
a
vested
interest
as
the
entities
to
then
also
provide
the
insurance
for
the
asset.
So
that
is
how
we
got
here
today.
I
This
is
really
in
that
regard
kind
of
a
housekeeping
item
of
now
just
making
sure
that
it
aligns
better
with
how
we're
structuring
upaka
between
the
entities
and
then
also
these
Provisions
Within
These
original
agreements
that
called
for
you
pack
it'll
hold
the
insurance
to
amend
those
so
that
we
can
now
hold
it
and
it
makes
more
sense.
There's
efficiencies
and
cost
savings
involved.
F
E
F
B
In
sort
of
layman's
terms,
this
is
a
way
of
streamlining.
This
incredible
awesome
entanglement
that
happened
when
the
Eccles
theater
happened
right.
There's
all
these
different
entities
that
wanted
this
to
happen
and
kind
of
entangled
each
other,
and
this
seems
to
me
just
another
way
to
streamline
all
and
under
have
a
Clarity
of
roles.
Yes,.
I
A
I
Yes,
okay
and,
and
that
has
been
taken
account
in
the
the
budget
that
you
pack
a
budget
that
they
approve
and
and
as
part
of
that,
we've
realized
the
savings.
We've
also
made
some
allocations
to
build
up
kind
of
a
rainy
day,
trust
fund
and
and
other
things
in
anticipation
of
what
may
be
a
future
claim.
So
some
of
the
savings
are
going
towards
building
that
up
in
the
short
term.
A
I
Yes,
if,
if
there
aren't
any
concerns
by
the
board,
you
will
consider
this
I
think
on
the
18th
on
the
city
council
side,
and
so
that's
when
you
would
take
action
as
a
city
council.
If
you
don't
have
any
concerns,
you
do
have
the
option
today
to
approve
the
resolution
on
the
agency
side,
but
that
is
at
the
discretion
of
you
as
a
board
and
which
hat
you
want
to
wear
and
if
you're
not
comfortable
doing
that,
then
I
assume
we
can
schedule
a
special
meeting
on
the
18th
for
the
RDA.
A
F
A
I
A
Right
we're
moving
on
to
item
number
five
and
that
is
informational
about
the
Eagles
Theater
annual
report
and
at
the
table.
We
have
Angela
Van
Der
well
from
The
Echoes
Theater
she's
at
Eccles,
theater,
general
manager,
Matthew
Castillo,
Castillo
in
Spanish,
art
and
culture
division,
director
and
then
Daniels
are
the
aid
director.
I
Thank
you,
madam
chair
I,
appreciate
you
introducing
Matt
and
Angela
and
I'm
going
to
turn
the
bulk
of
the
time
over
to
them.
But
we
assume
that
since
we
just
presented
an
item
on
Eccles
theater,
that
many
of
our
current
Council
and
board
members
have
not
had
what
was
originally
set
up
as
an
annual
report,
I
think
coming
from
Eccles,
theater
and
I
can't
remember
Cindy
if
it
stopped
right
before
covid
or
because
of
covid.
I
But
I
know
it's
been
a
few
years,
and
so
we
figured
that
was
something
we
wanted
to
start
back
up
and
I.
Think
the
timing
is
perfect
for
that,
because
Matt
and
Angela
are
going
to
provide
some
great
information
on
how
they
kept
echoes
afloat
during
covid
and
all
of
the
efforts
that
they
did
for
that,
and
so
we
thought
this
was
good
timing
and
I
will
turn
it
over
to
them
for
their
presentation.
Thank
you.
K
K
Right
well,
thank
you
all
so
much
for
having
us
here.
It's
an
honor
to
be
able
to
present
in
front
of
you
today
and
thank
you
to
Danny
and
the
RDA
staff
for
being
such
wonderful
Partners
with
the
Eccles
theater
project.
As
Danny
mentioned,
my
name
is
Matt
Castillo
I'm,
the
division
director
for
Salt,
Lake,
County,
arts
and
culture.
We
do
a
lot
of
cool
stuff.
K
One
of
our
main
things
is
operating
all
of
the
counties:
Arts
venues
downtown
Capitol,
Theater,
abrov,
Rose,
Wagner
and
a
few
others,
and
then,
of
course,
we're
honored
to
operate.
Eccles
theater
as
well
under
the
Utah
Performing
Arts
Center
agency.
And
do
you
want
to
go
ahead
and
introduce
yourself?
Yes,.
K
Right
and
then
we
can
go
to
the
next
slide
now,
so
we're
going
to
go
into
just
a
little
bit
more
General
overview
of
the
theater
than
we
do
in
most
years.
It
has
been
a
couple
years
since
we've
come
before
you
and
we
know
there's
also
some
new
council
members
on
the
board
that
we
want
to
make
sure
up
to
speed.
K
K
So
today
we
will
cover
the
Eccles
theater
vision
and
Mission
that
comes
from
the
interlocal,
we'll
also
cover
structure
and
operational
overview
of
the
theater,
then
we'll
dive
into
Financial
reports
and
a
program
overview
of
our
three
main
operating
areas:
Eccles
building,
Echo
site
and
arts
for
all,
and
if
those
terms
don't
mean
much
to
you
right
now,
we'll
we'll
explain
those
and
then
we'll
end
with
a
few
slides
about
what's
next
for
Eccles
theater.
So
without
alternative
over
to
Angela
thanks.
M
So
now
we'd
like
to
share
with
you
a
brief
overview
of
our
ownership
and
management
structure.
The
Eccles
theater
is
owned
by
Salt
Lake
City
Salt
Lake
City
RDA
in
Salt
Lake
County
oversight
is
provided
by
upacca.
The
Utah
Performing
Arts
Center
agency
yupaco
is
created
through
an
interlocal
agreement
between
Salt
Lake
City,
Salt,
Lake,
City,
RDA
and
Salt
Lake
County.
M
Youpaka
provides
both
fiduciary
and
advisory
oversight
in
alignment
with
our
operating
agreement
and
for
those
of
you
that
aren't
already
familiar,
we
have
two
main
performance
spaces
housed
within
the
Eccles
theater
Delta
Hall
and
Regent
Street
Black,
Box,
Delta
Performance
Hall
is
a
2500
seat,
proscenium,
theater
and
home
to
our
two
main
presenting
series
Broadway
at
the
Eccles
and
live
at
the
Eccles
popular
entertainment
series
region.
Street
black
box
is
176
seat
performance
space
for
new
and
emerging
artists
and
can
convert
to
an
unstructured
creation
or
social
event.
Space.
M
Thank
you,
okay,
so
we
wanted
to
take
you
through
our
operating
units.
The
our
overall
budget
for
the
echo
Cedar
is
separated
into
three
operating
units
building,
site
and
arts
for
all.
These
units
are
handled
differently
from
a
programming
and
financial
perspective
revenue
and
expenses
for
these
spaces
is
generally
tracked
and
reported
separately.
M
M
Our
our
site,
Budget,
on
the
other
hand,
is
focused
on
supporting
local
arts
and
culture
in
the
community,
Through
accessibility
for
new
and
emerging
artists
and
supporting
season
small
scale,
theater
companies.
We
do
this
through
affordable
rental
rates
and
Community
engagement
efforts
in
the
next
three
sections,
we're
going
to
dive
a
little
deeper
into
these
three
operating
and
Reporting
units,
and
before
we
do
I'd
like
to
encourage
you
to
review
the
financial
documents
that
Matt's
going
to
cover
in
the
next
few
slides
in
detail.
K
All
right
next
slide
so
and
then
let's
go
and
advance
to
the
next
slide,
so
I'll
focus
a
little
bit
on
Eccles
building
which,
as
Angela
mentioned,
comprises
all
of
our
operations
from
the
2500
seat.
Delta
Hall,
so
primarily
Broadway
programming
live
at
the
Eccles,
our
popular
entertainment
and
then
other
community
events
that
we
host
there.
K
So
we'll
focus
a
little
bit
on
the
financials
again.
I
know.
This
is
a
lot
of
information
so
happy
to
send
over
some
additional
financials
later,
if
you'd
like
to
dig
in
a
little
bit
more.
But
this
report
here
shows
2021
actuals
2022
budget
status
to
date
as
of
with
actuals
as
of
the
end
of
August,
and
then
our
2023
proposed
budget
that
was
reviewed
by
the
yupaca
board
in
September,
so
I
think.
K
K
There
were
a
lot
of
questions
about
you
know
exactly
how
long
it
would
take
us
to
recover,
but
fortunately
you
know
through
some
I
think
some
Creative
Solutions
and
some
a
lot
of
great
work
by
our
team
members
and
key
Partners
in
2020
and
then
going
into
2021
and
reactivating
our
full
capacity
performances
in
the
in
August
of
2021.
We've
actually
been
able
to
end
2021
with
a
fully
balanced
budget.
All
of
our
operating
reserves
have
been
refilled.
K
K
2022
is
shaping
up
to
be
another
great
year.
Revenues
right
now
are
ahead
of
their
initial
projections
and
we
have
a
really
strong
fall,
we're
currently
hosting
Lion
King
at
the
Eccles
theater.
We
have
a
lot
of
great
shows
coming
up
through
the
rest
of
the
year,
so
expect
to
end
the
year
strong,
with
Revenue
our
budget.
K
K
So
this
is
our
report
that
shows
the
the
distribution
of
net
operating
income
from
building
operations
to
owners.
So
I
won't
spend
a
lot
of
time
here,
but
this
essentially
goes
through
when
we
do
have
net
income
at
Eccles
Theater,
which
has
been
every
year
except
for
2020.
So
far,
this
outlines
how
that's
distributed-
and
this
is
all
detailed
specifically
in
both
the
owner
and
the
operating
agreement.
So
you'll
see
we
had
a
distribution
in
2021,
we're
anticipating
another
distribution
in
2022
and
then
again
in
23..
K
Absolutely
yeah
we'll
send
those
out
right
after
this
meeting,
so
just
a
few
highlights
of
operations
during
the
pandemic,
the
first
two
years
of
the
pandemic,
so
we
did
close
to
full
capacity.
Performances
from
March
2020
through
August
of
2021,
as
all
theaters
did
to
a
greater
lesser
extent.
One
of
the
things
that
we
were
really
fortunate
during
those
months
where
the
theater
was
dark
was
because
all
count
or
all
Eccles
employees
are
County
Employees.
K
We
were
able
to
participate
in
some
redeployment
programs,
so
while
our
staff
didn't
necessarily
have
as
much
to
do
some
of
them,
while
our
theater
was
dark,
we
were
able
to
redeploy
a
lot
of
our
employees
to
a
pandemic
response
efforts
and
other
staffing
needs
across
the
county.
So
we
had
production
and
ticketing
staff,
helping
with
quarantine
and
isolation
centers
helping
deliver
Meals
on
Wheels.
It
was
a.
K
So,
of
course,
I
want
to
highlight
the
things
that
are.
Oh
excuse
me
next
slide.
Please
thank
you.
So,
in
some
respects
some
of
our
employees
were
actually
even
busier
than
they
they
normally
are.
We
handled
literally
hundreds
of
thousands
of
ticket
refunds
and
reschedules
I'm
working
with
all
of
the
patrons.
K
We
did
work
to
keep
the
active
theater
when
or
the
theater
active
when
possible,
so
we
hosted
several
filmings
with
Disney.
We
were
also
really
proud
to
present
the
regional
presentation
of
the
music
of
Andrew
Lloyd
Webber
produced
by
our
partners
at
Magic
space
entertainment
to
reduce
capacity
audience
in
March
of
2021.
We
were
the
only
theater
in
the
entire
world
presenting
Andrew
Lloyd
Webber,
so
that
was
a
really
special
moment
and
we
we
worked
directly
with
Andrew
Lloyd
Webber.
K
To
do
that
and
then
also
another
really
exciting
opportunity
that
came
out
of
the
pandemic
was
presenting
open
streets
programming
with
the
blocks
in
the
RDA,
which
was
a
great
use
of
the
theater,
while
the
the
Delta
Hall
was
still
dark
and
then,
of
course,
we
continued
working
on
key
projects.
So
just
some
of
the
highlights
of
of
Echols
building
next
slide.
Please
so
here
are
just
a
few
pictures.
This
upper
right
is
upper
left.
K
Excuse
me
is
a
lot
of
our
production
team,
delivering
PPE
kits
and
thermometers
to
local
restaurants
in
2020.
You
all
remember.
The
health
department
had
a
really
cool
initiative
to
help
restaurants
reopen,
and
so
those
are
some
of
our
staff.
Doing
that
and
then
some
pictures
of
installing
our
automated
risers
at
the
black
box
next
slide
so
I'll
pause,
I,
know
I'm
going
through
this
really
quickly
any
questions
before
I
move
on
to
echo's
site.
Our
next
operating
unit.
K
A
K
So
yeah
we
have
been
able
to
work
closely
with
them.
They
didn't
benefit
directly
from
that,
though
most
of
our
presenting
Partners
did
so
our
our
residents,
Broadway
Across,
America
magic
space,
entertainment.
They
did
receive
funding
through
that
program,
but
fortunately,
we've
come
out
the
other
side
of
the
closure,
at
least
with
10
Angels,
still
operating
and
continuing
to
to
focus
there
and
then
our
concessionaire
as
well
Utah,
Food
Services.
Thank.
A
K
Next,
we'll
talk
about
equal
site
which
really
comprises
the
Regent
Street
black
box,
theater
McCarthy
Plaza
and
some
Echo
other
event
spaces
next
slide,
please
so.
Here's
some
financials
I'll,
of
course
include
these
as
well
in
a
follow-up
email,
but
as
Angela
was
mentioning.
This
is
our
operating
unit
where
we
really
focus
on
serving
and
helping
to
support
local
Arts
agencies,
local
Arts
organizations
and
individual
artists.
We
do
that
through
low
rental
rates,
event,
support
and
some
key
strategic
Community
engagement.
K
I
won't
spend
too
much
time
on
this
budget
report,
but
I'll
just
mention
that
we're
very
pleased
that,
through
the
pandemic,
we
did
not
have
to
request
any
additional
money.
We
actually
were
able
to
come
in
under
budget
significantly
because
of
cost
savings
and
then,
as
we've
reopened,
we've
been
able
to
work
with
Arts
organizations
and
stay
within
that
kind
of
approved
budget.
So
we're
excited
about
that
and
then
now
I'll
pass
it
over
to
Angela.
To
talk
about
some
of
the
cool
things
we
do
at
ecclesite.
M
M
Over
the
past
few
years,
we've
partnered
with
the
blocks
and
downtown
Alliance
to
make
a
ghost
theater
an
open
streets
anchor
venue
with
the
blocks,
programming
events
in
the
grand
lobby
at
the
Eccles
theater.
In
both
21
and
2022,
we
opened
the
Nana
doors
to
Main
Street
from
the
grand
Lobby
and
we
successfully
hosted
14
summertime
events.
That
was
seven
events.
Each
year
we
saw
about
750
attendees,
enjoy
and
and
interact
with
the
theater
directly
and
many
more
on
flow.
M
And
then
beginning
in
2021,
with
the
Delta
Hall
still
dark
to
oh
next
slide,
please
yeah
with
Delta
Hall,
still
dark
to
full
capacity
audiences.
We
work
to
identify
local
new
and
emerging
artists
and
art
forms
and
in
conjunction
with
open
streets
activity,
downtown
we
jumped
into
producing
and
presenting
our
own
programming.
M
M
We
hosted
slightly
more
than
550
patrons,
most
of
them
new
to
Eccles
theater
over
the
course
of
the
four
engagements
and
we're
really
looking
forward
to
expanding
our
programming
in
2023
and
I
can't
advance
from
this
slide
without
pausing
for
a
moment
to
thank
Salt,
Lake
City
RDA
for
their
generous
contributions
each
year
to
help
make
these
events
happen.
I
also
need
to
give
a
quick
nod
to
our
Eccles
theater
staff,
who
expanded
beyond
their
usual
roles,
to
start
producing
these
events.
In-House
next
slide.
Please.
M
Our
latest
permanent
installation
culture
in
our
hair
by
Bill
Lewis,
which
is
on
the
left
hand
side
of
the
the
slide,
is
located
in
the
region:
Street
Black,
Box,
Lobby
and
staircase,
and
annually
we
host
a
temporary
non-traditional
holiday,
art
installation
and
Community
open
house
event
called
lights
on
at
the
Eccles
theater
next
slide.
Please.
K
All
right
so
now
I'm
going
to
chat
about
the
arts
for
all
program
which
is
kind
of
our
our
Banner
community
outreach
program
and
I
I
just
want
to
pause
them
and
I
feel
like
we
should
have
brought
like
a
little
creative
Outlet,
like
maybe
a
dance
break,
or
something
to
bring
a
little
drama
from
Eccles
theater.
We'll
plan
that
for
next
time
so.
K
K
So
we
provide
free
tickets
to
income
qualified
individuals
through
this
program,
many
of
whom
otherwise
would
not
be
able
to
attend
events
at
the
Eccles
theater.
This
slide
is
the
budget.
I
won't
spend
much
time
here.
It's
pretty
straightforward,
but
of
course
please
ask
me
if
you
have
any
questions,
let's
go
to
the
next
slide
now.
K
Oops.
Excuse
me,
so
the
main
way
that
we
distribute
tickets
is
through
key
Partnerships.
So
when
we
first
started
this
program,
we
were
doing
it
through
a
lottery
system.
It
really
wasn't
a
great
way
to
get
tickets
out,
and
so
our
arts
for
all
coordinator
has
been
working
really
hard
to
develop
Partnerships
with
a
lot
of
schools,
social
service
providers,
Community
organizations,
non-profit
Arts
organizations
and
so
forth,
which
has
been
a
great
way
for
us
to
get
tickets
to
those
that
are
really
most
interested
in
attending
next
slide.
Please.
K
So
this
just
shows
some
of
the
numbers,
so
in
essentially
the
five
years
we've
been
operating
arts
for
all
2020
was
we
put
the
program
on
pause
for
obvious
reasons,
but
we've
distributed
more
than
5
600
tickets
over
the
course
of
the
program,
which
is
great
right
now
we're
at
about
70
percent
utilization.
Our
goal
is
to
be
at
80
to
90
percent
utilization,
again
giving
tickets
to
those
that
really
want
to
come
and
are
going
to
take
advantage
of
that.
K
Let's
go
to
the
next
slide
now,
so
this
just
lists
a
lot
of
our
arts
for
all
program.
Partners,
we're
always
looking
for
new
partners
to
get
the
the
word
out.
So
we
help
appreciate
any
help
or
any
references
you
all
might
have,
but
again
work
with
a
lot
of
middle
and
high
schools.
The
Other,
Side
Academy
has
been
a
great
partner
for
us,
Pride,
Center
and
others,
and
there's
a
few
quotes
included
here
from
some
great
feedback.
We've
gotten
from
some
of
our
partners.
K
M
B
Cindy
also
just
pointed
this
out,
but
one
of
the
very
first
things
I
believe
we
were
I
was
ever
briefed
on
with
Eccles
theater
was
the
arts
for
all
program
and
it's
awesome
to
see
it
growing
and
continuing
to
grow
in
5600
tickets.
It's
a
lot
of
tickets
and
a
lot
of
people
that
get
to
experience
the
theater
and
the
Arts
in
ways
that
they
may
have
never
been
able
to
experience
before.
B
We
all
know
how
important,
especially
having
lost
it
during
covid,
how
important
the
Arts
are
for
our
communities
all
of
our
communities
and
so
huge
huge
shout
out
to
that
program.
The
Partnerships
you've
made
I
know:
tosa
was
up
there.
I
know
a
lot
of
people
have
been
able
to
take
their
children
and
experience
it
with
their
children
again
opportunities
that
throughout
these
Refugee
programs,
all
of
it,
those
Partnerships
that
have
been
made
that
wouldn't
have
been
able
to
have
that
experience
before
so
huge
huge
shout
out.
A
Thank
you,
I
just
appreciate
the
amount
of
work
and
how
you
guys
have
been
able
to
navigate
the
pandemic.
You
know
in
a
healthy
way
in
a
way.
So
thank
you
thank
you
for
holding
on
and
thank
you
for
the
persistence
and
the
creativity
to
make
it
happen
so,
and
this
is
one
of
the
biggest
assets
that
downtown
has
so
I
am
extremely
proud
of
of
that
happening
in
our
city.
So,
thank
you.
Thank
you.
We.
A
E
E
So,
just
to
give
a
quick
overview.
The
applicant
for
the
loan
is
the
bicycle
Collective
and
they
are
looking
to
build
the
headquarters
for
their
organization
on
the
rda's
901
South
Gale
Street
property
located
within
The
Granary
District.
The
development
will
be
a
15
000
square
foot,
multi-use
building
that
will
include
the
retail
program
in
operation
space
for
the
organization
and
that
project
is
also
adjacent
to
the
nine
Line
Trail.
In
May,
the
board
approved
a
1
750
000
primary
loan
to
the
organization
next
slide.
E
E
So
the
total
loan
amount
would
be
two
million
two
hundred
fifty
thousand
dollars
and
also
due
to
the
volatile
increase
in
interest
rates.
They
are
requesting
to
lock
in
their
interest
rate
instead
of
waiting
until
the
loan
is
until
the
lawn
closes
and
that
that
requires
a
waiver
from
the
board,
and
this
will
help
the
organization
kind
of
manage
their
costs
throughout
the
process
and
the
and
the
organization
is
working
hard
to
start
construction
soon
and
they
anticipate
construction
to
be
complete
by
quarter
two
of
2023.
E
E
Trail
next
slide,
please,
and
just
to
provide
just
additional
background
information
in
2017
through
an
RFP,
the
RDA
did
select
the
advice
Collective
to
negotiate
the
development
of
the
property
in
2018,
the
RDA
board
approved
a
land
write
down
for
the
property
in
exchange
for
public
benefits
and
the
land
will
eventually
be
conveyed
to
the
bicycle.
Collective
and
the
public
benefits
associated
with
this
project
includes
public
amenities,
Transit
Alternatives
architecture
and
Urban
Design
and
sustainability.
E
Next
slide,
please,
and
so
here's
just
a
summary
of
the
proposed
terms.
The
proposed
loan
amount
is
2
million,
250
000,
the
bicycle
Collective
is
proposing
to
lock
in
their
base
interest
rate
at
the
5.66
percent
rate.
Instead
of
waiting
until
closing
and
the
interest
rate
reductions
for
the
public
benefits
are
listed
here
and
the
term
would
be
five
years
with
a
20-year
M.
That
means
there
would
be
a
balloon
payment
after
five
years
and
the
loan
would
be
fully
paid
back
and
the
RDA
will
have
a
first
position
lien
on
the
property.
E
If
anything,
you
know
doesn't
if
it
doesn't
go
as
planned.
Next
slide,
please.
So
the
finance
committee
reviewed
and
recommended
to
approve
this
proposal
again.
The
loan
repayment
is
based
on
the
organization's
ability
to
fundraise
and
they
have
been
able
to
raise
quite
a
bit
of
funds
and
they
do
anticipate
additional
funding.
F
E
F
E
Yeah
so
well,
I
think.
The
purpose
of
these
loans
is
to
support
just
smaller
commercial
developments
that
will
help
kind
of
revitalize
different
parts
of
the
RDA
project
areas
and
to
bring
about
certain
public
benefits
to
those
areas,
and
our
goal
is
to
when
they
do
provide
those
public
benefits.
We
allow
for
kind
of
a
lower
interest
rate
that
will
help
these
businesses
get
established
anything
else.
You
would
add.
Danny
I.
I
Would
add,
I
think
it's
important
to
keep
in
mind
that
this
loan
is
being
provided
on
top
of
what
was
the
property
offering
to
Bicycle
Collective.
So
we
offered
the
property
wrote
that
down
as
per
the
approval
from
the
board,
and
then
this
loan
is
on
top
of
that
assistance
to
help
get
the
project
up
and
going
overall.
I
The
the
function
of
these
loans
is
is
to
help
the
small
businesses
to
provide
those
resources
that
they
may
or
may
not
be
able
to
secure
through
conventional
financing
or
to
do
it
in
a
way
that
we
can
provide
incentives
to
incorporate
public
benefits
in
the
project
as
well.
And
so
this
between
the
Property
Disposition
and
the
loan
is
meant
to
provide
a
use
and
a
resource
to
the
community
that
may
not
otherwise
be
provided,
but
for
our
involvement
and
in
doing
the
project.
F
Sure,
and,
and
why
do
we
you
know
when
we
pick
the
businesses
that
we
pick
or
well
I
mean
first
they
come
and
apply
to
us
and
when,
when
of
the
people
or
businesses
who
have
applied,
can
you
talk
about
when
we
make
those
selections?
Why
are
those
good
not
just
for
that
business
but
for
the
neighborhood.
I
I
think
that's
a
function
of
when
we
do
that
review
an
analysis
of
those
applications
we're
putting
that
in
the
context
of
what
is
the
overall
project
area
plan.
What
are
the
uses
that
we
would
like
to
see
come
to
the
neighborhood
and
then,
as
part
of
our
review
of
the
specific
project
and
the
financials?
What
can
we
do
as
far
as
infusing
public
benefits
in
that
to
make
whatever
that
proposed
use
is
better
and
have
Community
benefits
within
it.
I
A
lot
of
it
is
what
we
receive
from
people
who
are
looking
to
do
projects
in
development
in
the
project
areas
so
as
they
come
to
us
and
seek
Assistance
or
how
to
utilize
our
programs.
They
are
already
coming
with
a
plan
for
the
property
or
what
their
project
is,
and
then
others
like
this,
where
it's
part
of
a
land
disposition,
we
are
trying
to
be
more
impactful
and
Target
specific
uses
that
we
think
could
provide
something
that
the
neighborhood
doesn't
already
have.
I
Correct
and
then
we
have
between
that
plan,
how
we
structure
our
programs,
what
those
thresholds
and
objectives
are
and
then
what
we
decide
to
either
provide
is
financing
or
what
reductions
to
interest
rate
we
provide
as
well.
Those
are
in
direct
relation
to
what
benefits
they're,
providing
or
what
goals
that
we've
identified
you
as
a
board
for
these
programs
that
they
would
match
as
part
of
just
being
able
basic
eligibility
for
those
programs.
A
A
F
A
I
A
F
J
J
So
today,
you're
considering
a
request
for
The
Granary
adaptive,
reuse
program
from
Fisher
brewing,
and
it's
for
a
hundred
and
thirty
six
thousand
nine
hundred
and
sixty
two
dollar
loan
for
an
expansion
project
I'll
get
more
into
the
details
of
that
project
in
the
next
slide,
but
to
start
I
wanted
to
provide
a
little
bit
of
background
and
on
the
program
goals.
So
originally
it
was
a
pilot
program
and
after
two
successful
loans,
it
became
an
official
program
with
a
policy
and
resolution
in
2017.
J
and
it
was
established
to
one
provide
forgivable
loans
to
encourage
reuse
and
revitalization
of
The,
Grainery
District's,
unique
stock
of
industrial
buildings
to
to
reduce
Financial
impact
of
adaptive,
reuse
and
preserve
existing
neighborhood
character
and
three
to
facilitate
transformative
projects
that
increase
the
number
of
residents
living
working
and
visiting
the
grainerd
district
up
to
200.
000
is
available
per
project
and
previous
loan
recipients
include
atmosphere.
Studios
Fisher
brewing
in
2016
for
their
grand
opening,
templin
family
brewing
and
Orchid
Dynasty.
Excuse
me,
Dynasty
and
of
note.
J
J
All
right
so
on
the
map
you
can
see
the
existing
breweries
in
the
teal
outline
in
the
proposed
expansion
is
in
the
lime
green
outline
to
the
east
of
that
building
towards
third
West
Fishers.
Expansion
Project
includes
the
acquisition
of
those
properties
to
the
east
of
the
existing
Brewery,
which
will
be
adaptively
reused
to
include
an
additional,
roughly
2
600
square
feet
of
Brewing
Area
3
300
square
feet
of
Tavern
space,
a
thousand
square
feet
of
outdoor
dining,
with
a
total
project
cost
of
about
4.6
million.
J
J
All
right,
so
the
program
is
intended
to
provide
a
forgivable
loan
to
supplement
a
Project's,
existing
financing
or
Equity
contributions
and
within
the
program
we
identify
eligible
uses
and
the
applicants
required
to
match
those
funds
that
specifically
contribute
to
the
Adaptive
reuse
of
the
building.
So
for
this
project,
specifically,
the
loan
will
go
to
help
offset
the
cost
of
adaptive
reuse,
including
construction
costs
associated
with
building
code
requirements,
full
electrical
HVAC
and
plumbing
upgrades,
as
well
as
a
new,
accessible
bathrooms
and
fire
suppression
system
for
the
program
parameters.
J
The
Fisher
Brewing
project
is
eligible
again
for
the
136
962
Dollar
Loan,
to
be
forgiven
over
five
years.
If
all
requirements
are
met,
the
terms
are
on
the
slide
and
the
interest
rate
is
zero
percent.
The
term
is
five
years.
There's
no
annual
repayment,
if
all
conditions
are
met
and
principle
is
Forgiven
in
equal
annual
installments.
J
Overall,
this
loan
request
hits
the
program
goals
and
supports
the
Adaptive
reuse
of
buildings
to
preserve
the
past,
while
building
the
future
in
partnership
with
local
business.
And
finally,
we
had
finance
committee
review
this
loan
request
in
July
and
they
had
a
unanimous
recommendation
for
the
board
approval.
Finally,
we
also
have
Tim
Dwyer
here
with
Fisher
brewing,
and
that
is
the
presentation.
If
you
have
any
questions,
we
can
Dive
Right
In.
A
J
So
it's
an
ongoing
program
till
the
project
here
expires
in
roughly
like
2025
and
the
commercial
program
that
the
staff
has
brought
and
is
bringing
back
for
further
review
by
the
board.
This
largely
would
be
using
this
model
in
bringing
that
to
larger
project
areas,
but
did
you
have
any
other
comments
on
that.
I
I
was
just
going
to
add
I
believe
Granary
has
three
more
years
left
in
its
life
and
then
use
a
board
have
adopted
a
policy
that
following
the
expiration
and
when
we
stopped
collecting
tax
increment.
You
have
a
period
of
time
of
which
our
policy
says
that
we
have
to
spend
the
funds.
So
if,
for
some
reason,
these
haven't
been
spent
within
that
long
period
of
time,
I
think
you
would
see
us
as
staff
come
back
and
propose
some
other
use
for
the
funds
and
and
put
that
before
the
board
for
consideration.
I
K
A
So
maybe
even
again
say
a
few
words
and
also
you're
a
great
Ambassador
for
The
Granary
District,
so
make
sure
that
people
know
that
there's
a
million
dollars
left
that
they
can
use
and
do
great
things
like
your
business
does
or
that
neighborhood.
So
I'm
gonna
say
a
few
words
about
how
things
are
going
and
or.
L
L
Yeah,
thank
you
very
much
for
the
time
and
for
entertaining
a
second
application
that
we've
had
into
this
program.
The
first
one
was
very,
very
helpful,
as
we
were
just
getting
off
the
ground.
This
one
is
going
to
be
very,
very
helpful
for
us
as
we're
experiencing
much
higher
than
normal
costs,
and
doing
a
lot
of
upgrades
to
this
old
building.
L
I
really
really
enjoy
being
a
part
of
Saving
the
character
of
The
Granary
District,
the
building
that
we're
rehabbing
actually
housed
an
old
machine
shop
that
built
the
parts
for
the
original
Fisher
brewing's
canning
line.
So
there's
a
really
cool
bit
of
History,
that's
tying
together
that
we
get
to
preserve
as
part
of
this.
L
So
thank
you
to
the
board
to
even
consider
us
on
this
and
I
do
think
it's
a
really
important
program
to
try
to
maintain
the
way
the
district
is
now
is
a
smaller
scale
makers,
neighborhood
and
we're
happy
to
kind
of
fit
in
that
envelope.
But
I
I
do
think
that
more
people
should
take
advantage
of
this
and
it's
nice
to
know
about
the
the
timeline
requirements
with
the
expiration
of
the
project
area
in
2025.
A
Just
one
just
one
comment:
I
know
that
corner
the
one
that
you
guys
took
it
taking
over.
It
was
a
we.
We
toured
that
and
we
you
know
we
had
our
people
interested
in
leasing
that,
but
it
was
stuff
that
you
know
that
they
would
want
it
just
to
sell
like,
or
it
was
hard
to
lease
and
the
TI
and
magically
you
were
able
to
accomplish
that.
So
I'm
very
excited
that
you
acquired
the
property
and
it's
actually
staying.
You
know
like
that
and
keeping
the
character
so
good
job.
Thank.
B
F
D
F
A
A
A
I
You,
madam
chair,
we
have
a
three
quick
announcements.
It's
I
think
entirely
coincidental
that
they
all
deal
with
community
outreach
and
engagement
and
so
I
appreciate,
if
you
give
me
a
moment
to
talk
through
these
first
one
regards
our
showers
Electronics
property
that
you
as
a
board,
authorize
us
to
purchase.
This
is
a
property
adjacent
to
the
Folsom
corridor.
You'll
recall
that
when
we
brought
that
before
you,
we
indicated
that
we
were
going
to
apply
for
an
EPA
brownfields
cleanup
Grant.
I
We
have
developed
that
cleanup
plan
analysis
of
brownfields,
cleanup,
Alternatives
I
guess
is
the
actual
title.
That's
what
I
have
here
so
as
part
of
that
application
process,
though
we
do
make
that
available
for
public
comment.
So
this
announcement,
Number
One,
lets
everyone
know
that
we
have
developed
that
plan.
It
is
available
in
the
RDA
offices
and
on
our
website
for
review
and
input,
and
so,
if
anyone's
looking
for
some
really
exciting
nighttime
reading
that
is
available
and-
and
you
can
check
that
out
second
item
is
regarding
the
city.
I
Creek
daylighting
component
of
the
larger
Folsom
Trail
project
is
I
assume
you
know
the
RDA
has
been
working
with
seven
Canyons
trust
to
be
working
on
what
is
a
three-phase
Outreach
process
for
that
plan.
We're
in
that
first
phase
and
RDA
staff,
along
with
seven
Canyons
trust,
has
literally
been
out
pounding
the
pave,
walk,
pavement
and
sidewalks
and
going
door
to
door
in
the
neighborhood
posting
lawn
signs,
managing
tables
on
the
trail
and
also
attending
popular
Grove
community
council
meeting
the
groove
in
the
Grove.
I
So
all
of
this
is
meant
to
receive
survey
results
which
will
be
combined
with
other
information
during
phase
two
and
then
that
will
lead
to
development
of
the
two
design
options
for
the
creek
and
Trail
improvements
that
then,
as
part
of
phase
three,
will
be
put
out
to
the
public
for
additional
engagement
and
feedback
before
proposing
a
final
design.
So
that
is
information
you
can
find
on
our
website
or
reach
out
to
us
directly.
I
Finally,
as
part
of
our
process
of
revamping
our
commercial
assistance
programs,
our
loan
programs,
our
adaptive
reuse
program,
we're
also
reaching
out
to
developers,
stakeholders
Community
groups
to
gather
information
on
how
we
as
an
agency,
can
make
those
programs
work
and
make
sure
that
we
are
finding
what
our
purpose
is
for
those
programs
and
how
we
can
make
those
a
little
bit
more
attractive
to
use
within
our
project
areas.
So
this
is
a
request
to
the
board
members
that
if
you
have
any
small
scale
developers
any
Community
groups,
anyone
that
we
should
reach
out
to.
I
We
have
a
pretty
good
database
of
what
we
feel
our
development
Community
contacts,
but
I
think
it's
a
great
opportunity.
If
there's
anyone
else
that,
maybe
we
don't
have
on
our
list-
receive
that
input
from
user
board.
So
please
don't
hesitate
to
just
throw
in
an
email
and
send
them
to
us
and
and
we'll
take
it
from
there
and
reach
out
to
them.
That
is
all
we
have
Madam
chair.
Thank
you.