►
Description
To view the agenda for this meeting go to https://slc.primegov.com/public/portal
A
A
A
A
A
A
A
Hello
welcome
to
the
board
of
directors
of
the
Redevelopment
agency
of
Salt
Lake
City,
today
July
11th
meeting.
Thank
you
for
those
that
are
joining
us
in
person
and
those
that
are
joining
us
through
Zoom
or
watching
from
the
city
council
agenda,
page
Facebook,
YouTube,
Once,
SLC
TV.
We
hope
you
will
continue
to
join
us
in
whatever
manner
you
feel
most
comfortable
We
Begin.
The
meeting
today
with
comments
to
the
board.
A
You
can
also
call
us
in
our
24
hour
phone
line
at
the
number
801-535-7654.
Thank
you
for
joining
us
tonight
before
or
this
afternoon
before.
We
start
I
want
to
remind
everyone
about
the
rules
of
decorum
which
are
in
place
to
ensure
our
meetings
move
along
well
and
to
help
everybody
feel
comfortable.
Sharing
their
comments.
A
copy
of
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of
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Quorum
are
available
at
the
door
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staff
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going
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our
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A
As
you
probably
know,
staff
is
handling
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tasks,
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please
limit
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minimum
information
updates.
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you
need
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speak
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please
select
Scott
corpany
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the
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of
participants.
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If
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A
A
Well,
now
we're
going
to
move
to
item
C1,
which
is
the
Redevelopment
agency
business,
we're
now
under
Redevelopment
agency
business,
and
our
first
item
is
the
informational
tax,
increment
reimbursement
program
policy
on
housing
and
transgender
investment.
Zone
tax,
increment
reinvestment
policy
that
rolls
out
of
the
tongue
so
easily
at
the
table.
Alison
Roland,
Council,
Office
policy,
analyst,
deputy
director,
Danny
Waltz
RDA,
director.
C
For
sure
it
says
push
there,
we
go
gotcha.
Thank
you,
Mr
chair.
As
soon
as
I
pull
up
the
right
document.
C
Should
I
give
it
a
try
that
sounds
better
right?
Okay,
so
this
is
an
initial
briefing
on
two
proposed
policy
changes
to
the
rda's
tax
increment
reimbursement
policies.
First,
is
our
proposed
amendments
to
the
existing
tax
increment
policy,
and
these
are
designed
to
simplify
and
strengthen
project
criteria
for
tax
increment
reimbursement.
C
This
may
also
help
RDA
staff,
as
they
work
with
developers
by
clarifying
what
the
expectations
are
in
the
city.
The
second
policy
change
would
be
a
new
tax,
increment
policy
for
housing
and
Transit
reinvestment
zones
htrz,
because
these
areas
are
subject
to
different
requirements
than
traditional
project
areas
and
are
regulated
by
a
separate
section
of
state
code.
It's
really
weird
to
talk
with
this
feedback,
so
I'm
going
to
pass
it
over
to
Danny.
D
So
so
pass
it
over
to
me,
that's
perfect!
Thank
you,
Allison
Mr,
chair
members
of
the
board.
Thank
you
very
much
appreciate
the
opportunity
to
be
here
today.
I
want
to
start
with
some
good
news,
bad
news.
The
good
news
is
Lauren
Parisi,
a
senior
project
manager
in
our
office
welcomed
her
and
her
husband
welcome
to
baby
over
the
weekend.
So
that's
exciting.
D
The
bad
news
is
that
means
she's
not
here
today
to
do
this
presentation
and
you
get
me
so
I
apologize
for
that,
but
I
assure
you
that
Cara
will
keep
me
on
track
and
jump
in
and
correct
anything
I
get
wrong.
So
Allison
provided
a
very
good
high
level
description
of
what
this
item
is.
So
if
it's
okay,
Mr
chair,
we'll
jump
right
into
the
presentation,
get
into
the
details
of
what
we're
proposing
as
a
staff
and
then
provide
opportunity
for
questions
and
input
from
the
board
so
Taylor.
D
If
you
could
go
to
the
next
slide,
we
thought
it
would
be
helpful
to
start
with
what
just
a
quick
recap
of
what
tax
increment.
It
is
it's
something
we
we
speak
to
a
lot,
but
something
that
is
not
always
easy
for
people
to
remember
and
understand
so.
D
Tax
increment,
basically,
is
the
amount
of
the
property
tax
revenue
over
and
above
a
base
year
amount,
and
when
we
speak
in
terms
of
project
areas,
that's
how
we
set
up
a
project
area
and
our
budget
for
that
area
is
generated
by
the
tax
increment
from
when
we
started
that
project
area
with
regard
to
tax,
increment
reimbursements
and
the
agreements
that
go
with
it.
We're
often
talking
about
the
incremental
property
tax
revenue
from
that
project
itself.
D
D
They
are
not
alone,
so
they
are
not
paid
back,
but
they
are
paid
to
the
developer
in
compensation
and
consideration
for
what
their
project
is
and
the
public
benefits
that
are
within
them.
Best
practices
therefore
means
that
you
should
use
increment
and
reimbursement
agreements
for
the
most
impactful
types
of
development
that
you
would
want
to
propose
within
your
city
and
it's
usually
warranted
by
these
projects
having
a
high
level
of
public
benefits
within
them,
significant
costs
or
something
that
creates
that
Gap.
That
justifies
this
participation
because
of
that
Gap.
D
Obviously,
that
Gap
analysis
is
a
big
part
of
what
justifies
this
level
of
participation
and
the
demonstrated
need
next
slide.
Please
I
think
we
lost
our
slides
there.
If
you
could
see
the
slide
at
all.
What
we
would
talk
through
is
what's
in
the
the
memo
which
is
essentially
starting
with
the
the
two
things
that
are
as
part
of
this
proposal,
starting
with
the
need
for
policy
and
program
for
our
htrz
project
areas,
the
housing
Transit
reinvestment
zones.
D
The
reason
for
this
is
the
htrz
have
a
much
more
specific
in
terms
of
goals
and
requirements
that
are
called
out
within
statute.
Then
what
we
have
in
some
of
our
more
traditional
CRA
project
areas.
They
are
Transit
oriented
development
that
includes
affordable
housing.
They
include
a
list
of
other
allowable
uses.
That
can
excuse
me,
qualify
for
participation,
so
as
an
agency
and
as
a
staff,
we
are
proposing
to
have
a
policy
that
is
directly
tied
to
just
these
project
areas
so
that
it
carries
out
and
aligns
specifically
with
the
statute.
D
The
policy
itself
obviously
requires
a
number
of
thresholds,
the
first
and
foremost
being
that
they
have
to
meet
the
criteria
within
the
hdrz
act
and
state
statute.
We
also,
they
have
to
demonstrate
a
gap
and
warrant
the
level
of
participation
they
have
to
conform
with
the
rdas.
Next
slide,
please
Taylor.
They
have
to
conform
with
the
rda's
sustainability
development
policy,
and
then
we
are
also
proposing
that
they
require
a
true
activated
ground
floor
space
use.
If
the
project
involves
housing,
then
within
an
htrz
within
the
hdrz
statute.
D
D
Oh
sorry,
if
it's
a
non-housing
project,
then
those
first
four
standards
would
apply
conform
at
the
statute,
ground
floor,
use
sustainability
policy
and
have
a
financial
need
demonstrated
by
a
gap,
analysis
and
then
also
that
they
would
have
to
meet
two
additional
of
the
rda's
qualifying
livability
benchmarks
and
those
would
be
laid
out
within
the
policy.
D
The
term
for
the
reimbursement
would
be
primarily
driven
by
State
Statute.
The
htrz
statute
has
different
lengths
of
time
for
project
areas
based
on
whether
they're
centered
around
a
brt
light
rail
or
commuter
rail,
so
that
would
govern
what
the
term
is
and
then
what
we
have
proposed
within
the
policy
is
a
participation
rate
for
these
project
areas
at
10
to
40
percent
of
the
increment
would
be
available
for
public
infrastructure
projects
within
the
htrz
area,
and
then
therefore
60
to
90
percent
would
be
available
for
participation
in
the
specific
developments.
D
D
E
You
just
go
a
little
bit
more
in
depth
on
the
affordable
housing
minimums,
so
we
made
priorities
of
family
housing
and
size
numbers
so
that
eight,
that
twenty
percent
is
just
the
total
20
of
the
total
units.
But
we
don't
we're
not
specific
on
one
bedroom,
two
bedroom,
three
bedroom
correct
studios
in
that
nature:
correct!
That's
just
our
RDA
nofa
type
loans,
but
we
do
that.
Yes
and
there's.
Is
there
an
appetite
to
do
that
here
or
is
it
that
too
difficult
to
make
those?
D
E
Okay
and
on
the
same
line,
I
know:
we've
done
it
before
talking
about
the
average
Ami
being
at
80
or
lower,
so
that
they
could
they
could
adjust.
They
have
60
ones
and
then
market
rate
ones
to
adjust
to
an
80
level.
Is
that
something
here
is
that
just
more
of
on
the
mix
income
side
of
the
house?
If
you
were
to
do
fixed
income,
could
you
do
that?
Something
of
that
nature
here
say:
hey
we're
going
to
have
60
or
40
80
and
just
mixed
income
with
an
average
of
80
Ami.
D
Yes,
I
think
we
would
still
prioritize
and
have
a
preference
for
having
a
mix
of
amines
throughout
a
project,
and
we
could
incorporate
that
as
part
of
our
participation,
but
as
part
of
just
establishing
that
Baseline
of
what
they
could
qualify
for
participation.
That's
at
that
80
Ami
and
then
from
there
again
their
participation
level
of
what
they
get
could
be
tied
to
what
level
of
mixed
income
they
provide
within
the
project.
D
With
regard
to
the
agency's
existing
tax
increment
reimbursement
policy,
as
Allison
mentioned,
our
goal
here
is
to
strengthen
the
requirements
and
ensure
that
we're
using
this
for
the
most
transformative
projects.
So,
as
we've
said,
it's
a
very
valuable
tool
and
we
want
to
make
sure
that
we
are
looking
at
providing
it
for
projects
that
really
have
that
high
benefit
so
as
staff.
D
D
It
can
also
be
a
project
that
is
of
significant
scale
and
scope
in
terms
of
at
least
being
five
acres
of
land
or
more,
as
well
as
a
project
that
has
a
significant
level
of
investment,
private
investment.
So
the
other
caveat
for
threshold
is
carving
out
a
other
specific
provision
that
allows
us
to
do
preservation
of
a
historic
structure.
So
we
wanted
to
make
sure
that
that
was
allowed.
D
If
there
was
a
project
of
you
know
significance,
either
the
building
itself
or
the
level
of
private
investment,
but
that's
at
a
different
level
than
if
you're
talking
about
something
like
a
regional
impact.
Like
you
know
the
Delta,
Center
or
Eccles
theater,
you
can
kind
of
see
how
those
play
into
a
regional
nature.
So
those
are
the
the
criteria
for
the
minimum
threshold
of
the
type
of
projects.
Again
thresholds
still
apply
still
a
gap.
D
Analysis
still
has
to
conform
with
our
sustainability
policy
and
have
the
activated
ground
floor
space
housing
projects
again
carry
that
20
at
80
percent,
Ami
minimum
threshold
or
ten
percent
sixty
percent.
Those
obviously
can
change
as
we
get
into
the
negotiations
and
then,
if
it's
a
non-housing
project,
then
they
have
to
meet
additional
livability
benchmarks
and
then
finally,
the
the
difference
here
than
the
hdrz
is
the
term
and
participation
rate
would
be
negotiated.
That's
primarily
function
of
we
have
project
areas
at
different
stages
in
their
life
and
how
many
years
are
available
for
increment.
D
D
Cara
can
correct
me
as
if
I'm
wrong,
but
if
you
look
at
the
livability
benchmarks
at
the
bottom,
I,
don't
believe
we're
proposing
that
all
of
these
would
be
available.
So
you
could
just
pick
two
and
have
those
be
two
easy
ones.
They
would
be
more
specific
to
what
is
a
higher
level
of
threshold
for
the
project
area.
Sorry
for
the
project
I'll
stop
there.
Cara
can
jump
in
and
correct
me
if
there's
anything
I'm
wrong
on
or
that
I
missed
and
otherwise
we'll
open
it
up
for
questions.
F
Thanks
Dan
I
have
two
questions.
One
I
think
we've
talked
about
I've
seen
a
lot
of
bottom
floor
activation
like
it's
one
of
their
requirements
and
I
think
we've
talked
about.
How
can
the
RDA
help
even
more
like
if
there's
any
Gap
or
any
Financial
need
that
we
can
participate
so
that
we
can
occupy
those
bottom
floors
versus
what
we
see
in
some
parts
of
our
city?
F
It's
just
is
that
just
for
house
for
housing,
or
could
it
be
as
well
for
businesses
that
exist?
You
know,
and
now
they're
going
to
be
this
place
because
they're
demolishing
the
building
or
something
and
they're
doing
something
new,
and
is
there
any
way
we
you
know,
we
can
also
help
those
our
might
have
to
move
temporarily
or
we
want
them
to
move
temporarily.
So
we
can
help
with
that,
but
we
want
them
back
in
the
project.
D
I'll,
take
them
in
reverse
order.
Yes,
displacement
mitigation
would
apply
both
to
residential
and
Commercial
I.
Think
as
it
relates
to
commercial,
it
would
tie
into
the
answer
then,
for
the
first
part,
which
is,
as
you
speak,
to
the
ground
floor
activation
is
something
that
would
live
both
within
this
agreement
as
something
that
could
be
provided
as
a
reimbursement
qualifying
expense.
D
And
then
you
will
also
see
that
as
a
board
coming
to
you
in
a
big
part,
as
we
continue
to
bring
to
you,
our
commercial
Assistance
programs
and
updating
those
and
so
that'll
get
into
I
think
a
little
bit
more
of
the
specifics
of
what
that
one
can
look
like
and
what
the
role
of
the
RDA
can
be
and
then
two,
depending
on
what
that
looks
like
which
tool
then
can
be
utilized
to
to
address
that
and
what
our
role
in
addressing
those
could
be
your
or
what
world
we
could
live
in.
In
doing
that,.
A
E
D
Real
high
level,
significant
level
of
impact
as
I
said,
would
be
something
the
Delta
Center,
where
you're
looking
at
it's
a
regional
impact
you
could
get
into
where
you
can
make
the
case
whether
it's
for
office
tower,
if
it
was
going
to
attract,
maybe
a
corporate
use
that
you
really
wanted,
or
something
like
Eccles
theater,
where
it's
more
of
a
entertainment
type
venue
as
well.
D
The
the
goal
is
to
try
to
get
it
to
where,
as
part
of
that,
Gap
analysis
we're
looking
at
what
that
overarching
economic
impact
could
be
in
relation
to
what
participation
we
would
have.
Not
every
commercial
project
probably
should
utilize
this
tool.
E
Could
like,
if
you
had
it,
you
know
like
back
back
to
the
question
about
the
activated,
the
ground
floor
level
and
you
had
multiple
small
businesses
in
making
the
area
more
affordable,
living
like
just
affordable
housing,
and
so
that
doesn't
so
much
have
a
big
Regional,
but
it
has
a
huge
local
impact,
significant
in
that
level.
So
that
would
also
kind
of
play
in
part
of
that
definition.
Yes,.
D
You
could
do
that
and
then,
hypothetically
speaking,
if
there
was
a
significant
parcel
of
land
potentially
on
the
West
Side
along
North
Temple
that
justified
looking
at
that
area,
and
even
though
that
area
May
develop
in
a
more
traditional
way,
because
of
that
economic
impact
that
opportunity
to
maybe
confuse
some
of
those
public
benefits
like
that
within
that
project.
That
could
make
that
same
argument
as
well.
A
It's
looking
through
the
list
of
the
benchmarks
that
you
have
in
there.
Obviously
there
is
all
of
them
are
important
in
some
ways.
You
know
in
many
ways,
obviously
for
me,
if
I
had
to
rank
them,
I
would
rank
them
as
ownership
being
one
of
one
of
the
things
that
we
really
need
in
the
city
and
and
if
it
was
for
me,
I
would
put
it
first,
affordable
commercial
spaces.
A
You
know
it's
a
big
deal
for
many
of
us
all
of
us
in
some
way
in
some
place,
and-
and
this
is
a
personal
one
but
adopted
reuse
is
something
that
I
I,
love
and
I
know
that
many
of
us
are
very
interested
in
that
concept,
but
but
obviously
there
are
multiple
ways
of
organizing
this.
A
You
know,
obviously
that
is
a
hierarchy
of
needs
in
that
case,
and
in
my
case
it
will
be
ownership
above
the
need
for
public
art,
but
if
that
makes
sense,
so
if
if
when
you
build
this,
this
these
benchmarks
on
this
and
organize
them
and
and
I
hope
that
we
can
figure
out
what
is
the
most
need
needed
and
I
know
that
you
guys
are
going
to
do
that.
So
any
other
comments
from
the
from
the
board.
D
Thank
you.
We
will
take
this
and
start
drafting
the
the
policy
and
program
and
return
as
we
get
a
little
bit
more
definition.
Thank
you.
Thank.
A
You
moving
on
to
C2,
which
is
the
motion
releasing
funding
for
the
affordable
housing
in
initiative,
but
partial
any
more
coffee
today,
Perpetual
housing
fund
at
the
table.
It
is
not
going
to
be
Jennifer
Bruno.
Okay,
on
this
table,
it's
going
to
return
for
Bruno
deputy
director
of
the
city
council,
Danny
Waltz,
RDA,
director,
Tracy,
Tran
senior,
project
manager,
I'm
learning,
police
senior
project
manager.
H
Thanks
Mr
chair
I'll
just
do
a
quick
orientation
and
then
turn
it
over
to
the
RDA
staff.
This
is
a
follow-up
conversation
to
the
council's
action
in
budget
amendment
number
six
for
the
council
adopted
10
million
dollars
from
the
city's
American
Rescue
plan
act.
Funding
arpa
dollars
to
to
go
towards
this
initiative,
with
the
understanding
that
the
RDA
staff
would
return
with
a
draft
term
sheet
to
answer
some
of
the
council's
questions.
H
So
if
the
board
is
comfortable
with
the
direction
of
the
term
sheet,
I
think
the
staff
would
appreciate
some
direction
today
of
if
the
council
slash
board,
is
willing
to
release
those
funds,
as
was
sort
of
initially
discussed
in
budget
amendment
number
six.
So
that's
the
sort
of
General
context.
I'll
turn
that
over
to
the
RDA
staff.
D
Now
great,
thank
you
Jen.
Thank
you.
Mr
chair.
We
have
a
real,
quick
presentation
that
kind
of
provides
a
little
gap
of
how
we
got
here.
Tracy
Tran
in
our
office
will
go
through
that
and
then
I
also
want
to
indicate
that
both
Chris
Parker
and
Ashley
adkinson
are
here
from
the
Perpetual
housing
fund
available
to
answer
any
questions.
We
also
have
their
presentation
that
you've
seen
before
teed
up.
I
Great
thank
you
next
slide,
please.
So
just
to
give
an
overview.
The
Perpetual
housing
fund
of
Utah
is
a
non-profit
Housing
Organization,
with
a
mission
of
reimagining
Housing
Programs
to
share
profits
with
project
residents.
The
phf
will
develop
affordable
housing
units
to
serve
those
earning
between
25
to
125
Ami
and
through
this
model.
75
of
the
project
of
the
profits
that
would
typically
go
to
back
to
the
developer
or
in
the
investors
of
the
development
would
instead
be
returned
to
the
residents
of
the
development
as
a
means
of
wealth.
Building.
I
Through
this
profit
sharing
model,
the
residents
would
be
able
to
share
and
proceeds
in
the
following
ways:
through
an
annual
rent
rebate
for
my
Project's
cash
flow
from
through
a
project
project
payout
at
a
time
of
refinancing
or
exit
of
a
partner
profit
advance
that
will
be
available
for
tenants
for
major
life
events
and
profit
trade-up
funds
that
funds
received
could
also
be
applied
for
down
payment
through
their
partnership
with
the
Rocky
Mountain
Homes
fund
next
slide.
I
So
this
RDA
will
solidify
this
partnership
by
infusing
10
million
dollars
of
the
American
Rescue.
Sorry,
American
Rescue
plan
act,
sorry
or
arpa
funds
for
the
acquisition
and
development
of
affordable
housing
at
515,
East,
100
South
project,
so
the
Adaptive
reuse
of
the
existing
bot
existing
office
building
will
include
60
plus
housing
units
of
which
these
60
units
will
be
affordable
to
those
earning
between
25
and
50
50
of
the
area
median
income.
I
The
overall
project
will
also
include
additional
housing,
co-working
space,
retail
and
daycare
space.
The
project
also
anticipates
having
family
size
housing
of
three
and
four
bedroom
units,
and
overall,
this
will
be
a
significant
opportunity
to
promote
wealth
building
with
four
Salt
Lake
City
residents.
Next
slide.
I
Just
to
give
a
kind
of
a
recap,
so
the
RDA
board
adopted
this
guiding
framework
in
recent
years.
That
outlines
just
a
general
methodology
for
evaluating
and
prioritizing
projects
receiving
funds.
This
chart
highlights
the
benchmarks.
The
stars
in
this
chart
highlights
the
benchmarks
that
this
project
will
meet
next
slide.
I
So
these
include
so
the
benchmarks
include
leveraging,
so
our
investment
will
help
secure
tax
credits,
which
are
another
form
of
non-city
non-rda
funds
ownership.
So
the
project
will
provide
an
opportunity
for
residents
to
build
wealth
return
of
investment.
This
is
kind
of
where
this
project
really
stands
out.
This
initial
investment
will
Garner
a
two
to
six
percent
RDA
return
through
the
Perpetual
housing
fund,
there's
housing
for
everyone.
This
project
provides
three
and
four
bedrooms:
units
for
families
and
targets.
Underserved
populations
at
25
to
50
am
I.
I
Next
income
neighborhoods,
the
larger
515
project,
will
include
a
mix
of
affordable,
Amis
and
market
rate
housing
units
and
then
building
preservation,
Rehabilitation
or
adaptive
reuse.
The
project
will
Reaper
repurpose
and
rehabilitate
an
existing
office
building
for
housing.
I
In
addition,
oh
next
slide,
please.
In
addition,
the
board
adopted
the
following
annual
housing
priorities
for
fiscal
year
24..
The
515
project
would
meet
three
of
the
four
priorities:
wealth
building,
affordable
family
housing
and
deeply
affordable
housing.
Next
slide.
I
So
as
a
condition
of
the
10
million
dollar
budget
allocation,
the
board
must
review
and
approve
a
final
term
sheet.
Here
is
an
overview
of
the
proposed
terms.
So
again
it's
10
million
dollars
in
American
Rescue
plan
act
funds.
There
will
be
a
50-year
deed
restriction
recorded
against
the
property
that
obligates
phf
to
develop,
60
or
more
rent
and
income
restricted
units
at
25
to
50.
I
But
it
may
be
waived
if
necessary
due
to
the
Adaptive
reuse
element
of
the
515
project
and
again
the
RDA
is
to
receive
two
to
six
percent
return
annually,
which
we
paid
every
year
and
as
part
of
this
partnership,
phf
will
commit
to
develop
a
thousand
additional
units
in
Salt,
Lake
City
that
will
be
affordable
for
those
between
25
and
65.
Ami.
I
Let's
see
here,
we
go
okay,
so
in
terms
of
next
steps,
the
RDA
board
may
wish
to
discuss
the
proposed
terms
to
determine
if
any
additional
considerations
should
be
made
and
upon
approval
of
the
term
sheet.
Rda
staff
will
negotiate
the
necessary
agreements
to
solidify
this
partnership
and,
at
this
time,
we're
happy
to
answer
any
questions
and,
as
Danny
stated,
the
phf
team
is
here.
If,
if
there
are
additional
questions
for
them,
Mr.
J
D
We
do
anticipate
that
within
those
specific
projects,
some
of
those
projects
is
the
cost
of
construction
to
do
those
projects
may
come
either
to
the
RDA
or
obviously
apply
for
tax
credits
for
the
construction
side
of
it.
But
this
10
million
will
be
utilized
to
continue
to
acquire
properties,
establish
those
through
due
diligence
and
secure
the
financing
to
then
build
them
and
then
continue
to
revolve
within
that
entity
to
build
out
those
thousand
plus
units
in
20
years.
F
I'm
sorry
I
have
a
red
one
for
you,
so
the
10
million
dollars.
This
is
a
one-time
thing
for
the
acquisition
of
this
property.
515
is
100
South.
That's
it
right
like
because
I
understood
like
it's
a
portion
of
it
and
then
we'll
have
some
more
portion
of
the
10
millionaires
to
do
something
else.
I'm
confused.
D
So
the
10
million
dollars
in
arpa
funds
right
now
will
go
straight
to
phf.
They
will
utilize
that
initially
for
the
acquisition
of
the
affordable
units
within
515.,
okay,
that
initial
use
of
the
funds
so
long
as
it
meets
our
requirements
and
is
done
by
June
of
2024
meets
their
obligations
for
this
project
and
use
of
those
funds.
Okay,
that
10
million
dollars,
however,
also
serves
as
an
investment
and
contribution
into
the
phf,
because
it's
going
to
phf
that
is
now
a
part
of
the
Perpetual
housing
Fund
in
consideration
of
providing
that
10
million
dollars.
D
We,
as
the
RDA
in
the
city
have
a
seat
at
the
table
as
part
of
that
phf
entity
to
ensure
that,
as
they
continue
to
do
projects,
they
are
obligated
that,
within
those
projects
in
Salt
Lake
City
to
build
out
those
additional
thousand
units
over
20
years
So
within
the
fund,
they
will
continue
to
use
that
after
this
initial
project,
but
that
use
of
the
funds
for
this
initial
project
meets
the
arpa
requirements.
But
then
phf
as
an
entity
will
continue
to
use
those
funds
and
roll
that
into
future
projects.
D
K
I've
been
hearing
substance
and
in
spirit
thanks
technology,
who
is
the
person
What
entity,
is
the
purchasing
agent?
Who
will
who
will
be
the
purchaser
of
this
property.
D
D
L
L
So
Perpetual
housing
fund
of
Utah
is
the
real
estate
holding
entity
and
then
Perpetual
housing
fund
is
a
501c3
that
controls
that
so
Perpetual
housing
fund
of
Utah
will
be
what
all
projects
that
are
owned
and
developed
by
Perpetual
housing
fund
are
owned
by
unless
there's
a
single
purpose
entity
per
project
for
liability
reasons,
that's
owned
by
Perpetual
housing
fund
of
Utah,
but
the
money
from
the
city.
You
know
the
thing
that's
doing.
The
work
is
Perpetual
housing
fund
of
Utah,
which
is
controlled
by
the
501c3.
K
K
And
are
there
any
other
part,
here's
what
I'm
seeing
here,
first
of
all,
I'm
a
little
frustrated
that
we're
being
asked
to
do
the
release
today,
when
we
did
the
initial
approval
last
time,
and
this
has
nothing
to
do
with
you
when
we
did
the
approval
last
time
it
was
with
the
contingency
that
we
would
have
a
term
sheet
completed
with
it.
Now
we're
releasing
the
funds
and
being
asked
to
push
back
approval
of
a
term
sheet
and
the
risk
that
we're
assuming
here
is
just
getting
a
little
bit
unbearable.
K
K
I
know
we
don't
Finance
personalities
but
Chris.
You
have
a
great
reputation
and
your
work
has
done
good
things
already,
taking
a
risk
with
you
is
still
nerve-wracking.
It
still
goes
outside
of
what
my
personal
ethics
are
using
public
funds
says
I
should
do.
However,
it
gives
me
a
little
more
risk.
Tolerance
I
need
to
know
if
there's
other
ingredients
here
that
could
compromise
the
success
if
there
are
Partners
co-signers
collaborators.
K
Anything
at
any
point
that
I
have
yet
to
be
given
the
chance
to
vet
to
make
sure
that
when
we
are
doing
what
we
know,
we
need
to
do.
There's
not
other
opinions,
viewpoints
economic
interests
competing
with
that
sure.
So
that's
the
Nexus
of
my
line
of
questioning
and
the
resulted
how
it's
resulting
from
the
frustration
that
I'm
having
to
make
this
decision
without
an
actually
completed
term
sheet
in
front
of
me
and
I.
Understand,
lie
Tech
and
deadlines,
and
all
that,
but
still.
H
Frustrating
sorry
just
chiming
in
and
I
just
so
that
our
staff
can
own
part
of
the
frustration
in
communicating
I
think
that
we
were
looking
in
discussing
with
the
administration.
They
were
saying
it
would
be
helpful
to
have
a
straw
poll
about
the
funds
so
that
phf
could
continue
their
application.
The
term
sheet
is
mostly
finalized,
but
they
were
going
to
ask
you
to
approve
that
term
sheet
in
the
August
meeting.
But
what
felt
awkward
is
if
there
was
not
interest
in
moving
forward.
H
It
felt
like
that
was
an
important
thing
to
signal
at
this
meeting,
so
it
was
more
I
guess
it
could
have
been
formed
in
the
reverse
question
so
so
that
the
RDA
staff
didn't
continue
working
on
it.
If
the
council
was
not
interested
in
moving
forward,
so
there's
kind
of
a
two-part
decision
making
thing,
but
one
is
highly
dependent
on
the
other.
If
that
makes
sense
so
well,.
K
H
H
Okay,
so
I
think
the
board
could
make
this
decision
in
August
and
it
would
be
fine
I
think
what
our
staff
was
seeing
is
that
if,
if
the
board
was
a
no
on
releasing
the
funds,
I
feel
like
that
would
be
a
helpful
thing
to
tell
the
administration
now,
so
that
more
work
was
not
done
on
it
with
the
application
due
at
the
end
of
August
and
causing
frustration
on
that
end.
Does
that
make
sense
or.
K
K
K
D
Adding
on
to
that,
thank
you,
Jen
I,
think
that's
a
great
way
of
putting
it.
I
can
speak
the
fact
that
the
term
sheet,
as
it's
in
the
packet
right
now
is
essentially
what
we're
proposing
the
only
two
updates
or
changes
that
we
would
have
to
that
term
sheet
would
be
one
what
is
referenced
within
the
transmittal
memo.
Can
we
can.
A
We
put
this
the
term
sheet
on
the
on
the
screen
for
everybody
to
see
so
that
help
us
is
that
okay,
sorry
I'm
asking
enough
on
the
fly.
Yeah.
F
D
D
The
ccrp
again
referenced
in
the
memo,
but
we
would
most
likely
include
some
language
in
the
term
sheet,
referencing
that
and
then
the
other
change
that
you
would
see
in
the
term
sheet
is
just
some
updated
language
regarding
the
level
of
the
condominium
plot
that
would
need
to
be
recorded
and
finalized
prior
to
funding.
D
That
would
most
likely
be
a
preliminary
level
versus
finalized,
since
that
takes
a
little
bit
longer,
I'm
going
to
turn
it
over
to
Ashley,
with
phf
real
fast
to
make
sure
I've
got
everything
or
if
there's
something
you
want
to
add
to
that.
No.
M
L
D
So
so,
having
said
that,
that
would
be
what
we
would
propose
returning
a
staff
in
August
for
approval
and
then
also
incorporating
any
input
or
direction
we
received
today.
G
Member
yeah
we're
just
trying
to
locate
it.
Do
you
remember
what
the
file
name
is
in
the
staff.
E
H
That's
not
it
hold
on.
Let
me
pull
it
up.
G
E
H
F
I
A
That
will
be
very
helpful.
Please
remember
Wharton,
so.
G
Just
ground
aside
and
like
who
owns
the
actual
building
aside,
if
there's
another
partner
or
that
is
buying
up
a
significant
amount
of
the
units,
how
would
the
city
continue
to
maintain
control
and
oversight
in
that
situation?.
L
So
what
what
the
city
would
have
control
and
oversight
of
is
the
amount
of
units
we're
promising,
so
the
ones
that
are
25
to
55
Ami
in
the
515
building
will
have
no
other
parties
attached
to
them.
They'll
have
no
other
decision
making
within
them.
The
building
itself
is
a
very
large
structure
and
it
will
have
different
components
that
will.
G
G
L
K
I
realized,
maybe
I've
been
operating
under
a
false
assumption,
I'm,
assuming
that
the
part
that
the
city
is
investing
in
is
dependent
on
the
other
part
of
the
development
being
developed
and
operated.
If
we
were
to
give
you
this
10
million,
you
could
do
it
in
isolation
without
the
rest
of
these.
Is
that
what
you're
saying
sorry,
it
actually
was
nodding?
Sorry
I
was.
M
M
K
N
D
A
I
think
it
seems
to
me
that
to
boil
it
down,
this
might
be
a
little
concerned
right
that
you
know
the
parts
that
they're
not
getting
the
funds
from
the
city
could
potentially
sabotage
the
older
part
of
you
know
you
know
so,
knowing
that
that's
something
that
we
are
interested
in
learning
more
and
how
we're
protecting
the
city's
investment,
but
also
those
those
tenants
and
those
those
neighbors,
so
I
think
that's
an
important
piece
but
granted
that
is
there.
K
Any
Safeguard
any
safeguard
for
the
Integrity
of
what
we're
attempting
to
do
here.
It's
it's
a
relatively
large
amount
of
money
compared
to
the
number
of
units
we're
getting
as
discussed.
It's
it's
worth
it,
because
the
potential
outcome
and
paradigm
shift
and
model
shift
that
we're
doing
are
something
worth
investing
in,
but
I'm
a
firm
believer
that,
if
you're
doing
something
new
and
Innovative
you
have
the
owner.
It's
incumbent
upon
you
to
do
extra
due
diligence
and
to
mitigate
as
much
risk
as
possible.
A
A
F
You
know
certain
things
that
we've
done
so,
let's
say
the
world
shifts
and
this
practice
doesn't
happen
so
we're
five
years
in
or
no
let's
not
say
two
years
and
and
this
project
doesn't
happen
for
whatever
reason.
Now,
what
is
Fault
necessarily
the
economy
changes
the
whatever
the
the
market
changes.
F
Are
we
in
our
money
back
and
if
we
are,
are
we
going
to
get
penalized
because
it's
arpa
funding,
so
it's
something
that
was
supposed
to
be
spent
and
used,
but
now
it's
not,
and
so
now
we
have
10
million
dollars.
Assuming
that,
whatever
agreement
that
we
have
you.
O
D
Great
question:
that's
entirely
why,
with
the
purpose
of
this
10
million
dollars
in
the
initial
investment,
we
have
set
it
up
to
where
it
meets
the
arbor
requirements,
with
simply
the
acquisition
of
essentially
the
units
within
this
project
for
the
purpose
of
affordable
housing.
So
so
long
as
phf
buys
that
condom
minimized
piece
of
this
building
for
the
purpose
of
building
the
housing
units.
As
long
as
we
close
on
that
acquisition
and
disburse
the
funds
for
that
by
June
of
2024,
we
meet
the
arpa
requirements.
D
So
what
that
does
is
that
meets
the
upper
requirements?
However,
the
requirement
to
still
build
out
the
units
is
Affordable,
as
well
as
the
other
thousand
units.
Those
obligations
continue,
but
those
timelines
are
no
longer
set
to
meet
the
arbor
requirements.
So
if
the
project
suddenly
takes
three
or
four
years
versus
two
we're
not
in
danger
of
not
meeting
the
Opera
requirements
as
much
as
we
are
now
just
in
the
part
of
our
funding
agreement,
requirements
that
they
have
to
continue
to
meet
so
does
that
make
yeah.
D
The
term
sheet
you
have
in
front
of
you
is
what
essentially
outlines
that
funding
agreement,
which
not
only
takes
the
Opera
requirements,
but
then
adds
everything
else,
we're
talking
about
here
and
addresses
your
concerns,
and
then
that's
also
what
can
get
translated
into
what
other
agreements
we
may
have
to
enter
into
or
whatever
level
we
enter
into
agreements
with
phf.
It
carries
all
of
those
requirements
into
those
different
legal
agreements
that
then
they
have
to
follow.
F
Terms
of
the
second
time
it
does,
but
the
first
part
it
says
you
know
pH,
you
know
we
events
of
default
under
their
restrictive
years
or
funding
agreements
may
include,
but
are
not
limited
to
phf,
fails
to
construct
the
515
product
within
the
time
frame
provided
in
the
funding
agreement.
So
what
does
that
mean?
Like
doesn't
mean
like
I?
Don't
know
what
the
remedy
is.
I
guess
I'm
not
looking
like.
Are
we
getting
our
money
back
or
not?
Maybe
that's
like
the
simplest.
D
Question
so
you
you
will
have
within
the
funding
agreement
as
well
as
potentially
operating
with
phf.
That
will
outline
at
what
point
worst
case
scenarios
yeah.
We
could
pull
our
money
back.
Okay,
everything
between
that
initial
Opera
requirement
and
the
absolute
worst
case
scenario
will
have
different
levels
of
recourse
that
we
have
okay,
standard
legal
recourse.
You
know
pulling
it
out
providing
notice
of
default.
D
Part
of
the
reason
we
looked
at.
Having
that
time
frame
of
building
the
Thousand
units
is
anticipating
exactly
what
you're
saying
is
we
we
didn't
want
to
be
overly
optimistic
if
there
were
continued
shifts
in
the
market,
but
to
have
this
stretch
out
at
a
realistic
time
frame.
We're
confident
we'll
be
able
to
do
it
sooner,
but
as
far
as
laying
out
what
those
recourse
provisions
and
those
mile
Milestones
are
when
we
have
that.
We
want
to
be
also
realistic
in
what
makes
sense
we're
putting
those
within
legal
agreements.
A
Yeah,
it
seems
so
it
seems
it
would
it
be
fair
to
say
that
we
can
make
the
decision
next
month
on
this
on
the
next
RDA
meeting,
so
we
can
go
through
some
of
those
questions.
It
seems
like
we're
not
too
far
to
get
clarification
on
those
so
that
what
keeps
us,
if
a
few
more
weeks
to
to
work
through
that
is
that
okay,
okay,
let's
do
that.
E
I
think
there's
consensus
here
that
we
are
excited
about
it,
but
we
have
a
couple
questions
that
we
need
to
just
want
to
close
up,
but
there
is
willingness
and
desire
for
the
program.
We
just
have
a
couple
questions
that
customer
Pizza
board
member
Petro
raised,
but
there
is
a
desire
for
it
all
again
we're
not
the
developer
experts
here.
So
our
questions
May
sometimes
seem
simple
to
you,
but
they're
still,
really.
They
really
use
a
lot
of
brain
power
here
to
kind
of
put
together
in
our
head.
A
Mean
I
will
speak
for
myself.
Obviously
I.
You
know
I'm
excited
for
this
idea,
I'm
supportive
of
it
I.
You
know,
I
would
like
to
move
forward.
There's
important
questions
that
I
think
they're
important
to
answer.
I
also
think
that
I,
you
put
us
you
put
in
the
pocket,
the
draft
term
Rasheed.
A
F
Chair
I
just
wanted
to
also
express
my
support,
I
think
it's
or
revolutionizing
the
housing
you
know
in
Salt,
Lake
City.
So
it's
worth
a
try,
I
think
it's
I
mean
this
wealth
building
mechanisms
that
we've
been
talking
about
for
a
long
time
through
housing
and
homeownership
or
Equity
or
whatever
it
is
we're
trying
every
I
feel
like
we've
been
trying
from
every
angle
to
help
in
you
know
minimize
a
little
bit
of
the
housing
crisis,
but
especially
Building
Wealth
and
District
Four,
especially
and
parts
of
District
Four.
You
know
we
need
that.
F
We
we
have
some
opportunities
happening
and
coming
maybe
it's
as
manifesting
to
the
you
know
to
the
universe.
Please,
you
know
bring
some
of
these
opportunities,
but
they
are
coming
and
I
think
this
is
one
of
them.
So
I'm
super
excited.
It's
just
the
questions
here
and
there
because
of
our
you
know,
maybe
some
ignorance
in
terms
of
development
and
how
these
deals
get
done,
but
we
want
to
make
sure
that
we're
getting
the
biggest
bang
for
our
buck.
F
It's
the
taxpayers,
money,
and,
and
so
that's
why
all
of
the
questions
so
don't
feel
that
we're
not
supported
where
thank
you.
G
And,
and
just
not
just
that
to
add
on
to
that
I
think
because
this
can
be
a
like
a
it's
a
new
project,
especially
for
our
community
and
the
way
that
we're
doing
it
that
if,
if
it
is
it
successful,
as
we
hope
it
will
be,
a
lot
of
people
are
going
to
want
to
know
how
we
did
it
and
they're
going
to
ask
questions
about
how
we
did
it
and
we
want
to
be
able
to
answer
those
questions
at
every
step
in
the
process
so
forever.
I
understand.
A
A
We
are
punting
this
decision
until
the
next
meeting,
but
it
seems
like
you,
have
good
willing,
Partners
here
to
to
keep
on
working
on
this
we're
going
to
item
C3
the
resolution,
the
amendment
to
terms
to
for
loan
to
build,
build,
Beyond,
Villa,
1659,
LLC
and
clarification
of
housing
development
loan
program,
Alison
Roland
from
the
Council
Office
policy
analysts
at
the
table,
Danny
stays
on
his
chair,
RDA,
director
Austin
Taylor
joins
project
manager
and
Tracy
Tran
senior
project
manager
at
the
table.
Now.
Thank.
C
Thank
you,
Mr
chair
this
resolution
essentially
well
they're,
essentially
two
or
two
parts
to
this
resolution.
The
first
would
modify
the
housing
development
loan
program
or
hdlp
loan
for
the
bill.
1659
project
on
North
Temple,
which
you
probably
know
is
the
former
Ramada
Inn
last
January.
The
board
approved
1
million
in
special
nofa
funding.
For
this
purpose
and
last
fall.
The
council
also
approved
2
million
for
this
project
through
Cannes
new
homeless
housing
grant
program.
C
C
The
total
project
cost
would
fall
from
18.3
million
to
16.9
million,
so
dropped
by
1.4
million,
and
the
funding
shifts
would
also
include
an
increase
in
the
size
of
the
debt
that
is
senior
to
the
rda's
loan
that
that
amount
would
be
1.6
million.
It
would
reduce
the
owner
Equity
by
1.1
million
and
the
developer
fee
by
720
000,
and
it
would
also
raise
the
financing
costs
by
1.5
million.
C
Among
other
changes,
so
there's
the
the
total
amount
is
smaller
and
there
are
lots
of
other
shifts
in
the
FI
in
the
financing
underneath
that
smaller
amount.
The
second
part
of
the
resolution
would
approve
a
clarification
in
the
hdlp
resolution
that
you
approved
last
January.
This
would
state
that
if
a
project
does
not
receive
tax
credits
in
the
next
allocation
cycle,
the
funding
would
need
to
be
returned
to
the
RDA.
C
J
D
Thank
you,
Mr
chair
Allison
did
a
great
job
of
teeing.
It
up.
I'll
turn
it
over
to
Austin
and
Tracy
for
the
presentation.
O
You
okay,
so,
as
was
said
before
we're
talking
about
amending
the
loan
for
Bill
1659,
which
is
a
project
that
you,
the
board,
approved
a
one
million
dollar
hdlp
loan
for
as
a
refresher.
This
project
is
located
at
1659,
West,
North
Temple,
it's
a
conversion
of
a
mid-century
Hotel,
formerly
the
Ramada
Inn.
It
would
bring
online
197
studio
apartments,
affordable
to
those
households
making
30
Ami
or
less.
It
would
have
10
on-site
RV
parking
sites
with
electrical
sewer
and
water
hookups.
O
O
So
this
is
an
update
of
the
sources
and
uses,
and
one
thing
we
wanted
to
clarify
is
that
this
project
does
not
rely
on
the
low-income
housing
tax
credit.
So
the
slight
change
that
we're
proposing
in
in
the
hdlp
terms
do
not
apply
to
this
project.
I
O
I
I
changed
my
slide,
but
not
that
so
so
it's
just
a
condition
to
clarif
clarify.
So
initially
the
condition
was
included
to
ensure
that
funds
would
not
be
held
up,
so
there
was
just
a
time
frame.
So
if
they
a
project
did
not
receive
tax
credits,
they
would
return
the
funds
and
they
would
reapply
the
next
year.
So
the
condition
states
that
a
project
does
not
receive
the
nine
percent
tax
credits.
That
funds
would
be
returned
to
the
RDA
housing
development
loan
program.
I
All
we're
adding
is
also
the
four
percent
tax
credits
to
this
clarification.
So
it
now
reads:
if
project
does
not
receive
nine
percent
tax
credits
or
an
allocation
of
the
tax
exempt
bonds
for
the
four
percent
tax
credits,
funds
would
need
to
be
returned
to
the
housing
development
loan
program,
so
that
is
reflected
in
the
updated
resolution
that
should
be
in
your
packet
and
with
that
we're
happy
to
answer
any
questions
that
you
may
have.
A
I
just
want
to
I,
don't
have
a
question:
I,
don't
know.
I
wanna,
remember
one
of
the
things
that
happened,
it's
very
exciting
to
see
10,
RB,
Perkins
and
board.
Member
Petro
was
who
reach
out
to
the
developer
and
brought
that
idea
to
them,
and
it's
very
exciting
to
see
that
in
the
project.
So
it's
a
very
exciting
thing
and
I
hope.
A
Hopefully
more
more
projects
include
this
and
that's
something
that
I
I
hope
that
we
keep
on
our
radar
when
we're
talking
about
development
and
and
using
RDA
or
city
funds.
Rb
spots
are
very
much
need
across
the
city,
so
I
think
that
is
I'm
very
excited
to
see
that
I
come
to
fruition.
Thank
you
any
other
thoughts.
E
Approve
Mr,
chair
I
move
that
we
approve
the
the
change
the
amendment
to
the
terms
for
the
loan
of
the
villa
1659
LLC.
A
A
Is
that
okay
with
yours?
Second?
Okay?
So
we
have
a
motion
by
born
member
Dugan
and
a
second
by
board
member
Pedro.
Any
discussion
seems
like
we
are
okay
board
member
valdemoris,
yes,
board,
member
Dugan!
Yes,
yes,.
G
A
Member
Pedro
yes
and
I'm
a
yes
and
we
have
a
board
member,
not
on
the
on
the
room
right
now,
so
six
to
one
apps,
oh
five
to
one
of
them
and
one
missing
I,
don't
know!
Thank
you.
It
goes
it
moves
forward.
Thank
you
very
much.
Thank
you.
A
So
we
are
a
report
and
announce
announcements
from
the
executive
director,
Danny.
D
Gonna
punt
it
to
me.
Yes,
we
do
have
a
few
project
updates
Mr
chair,
if
I
may,
first
and
foremost
wanted
to
inform
the
board
that
we
were
successful
in
receiving
a
495
000
Grant
for
environmental
cleanup
to
brownfields
funding
for
our
property
at
22,
South,
Jeremy
Street,
your
members,
the
board,
that's
property,
we
own
along
Folsom
Corridor.
That
is
one
of
the
targeted
areas
within
our
North
Temple
Project
area.
So
this
will
go
a
long
ways
towards
redeveloping
that
property.
D
Our
goal
is
to
establish
it
as
a
small
scale,
trail-oriented
and
affordable
commercial
space
for
local
businesses
along
the
Folsom
Corridor.
So
please
report
that
Mr
chair.
We
appreciate
you
joining
in
the
celebration.
A
couple
weeks
ago
of
paper
box,
Lofts
at
160,
South,
300
West,
the
RDA
provided
3.2
million
dollar
land
write
down
for
securing
39,
affordable
units
within
their
195.
D
also
included,
are
14
live
workspaces
and
four
those
units
are
ADA
Compliant.
So
that's
an
exciting
project
not
to
throw
chair
chairman
under
the
bus,
but
he
was
a
little
giddy
about
the
car
stacking
part
of
the
project.
A
D
For
those
of
you
who
aren't
aware,
carfauna
has
nothing
on
this
project
in
terms
of
like
this
Park's
126
cars
in
the
space
of
what
it
would
take
to
park
27.
So
it's
pretty
interesting
component
of
the
project
is.
D
D
So
that's
exciting
one
other
update
we've
been
informed
by
the
housing
assistance
management,
Enterprise
Haim.
Regarding
the
Atkinson
Stacks
project.
This
received
500
000
of
funding
within
our
most
recent
nofa.
D
They
have
run
into
problems
regarding
other
funding
commitments
and
need
to
reapply
for
funding.
The
former
project
is,
if
you
recall,
was
going
to
utilize
shipping
containers
and
it
was
going
to
be
built
right
next
to
Pamela's.
Place
Haim
is
now
moving
the
components
of
that
project
across
the
street
they're
going
to
build
a
new
structure
adjacent
to
their
Sunrise
Metro
project,
but
because
that
literally
is
a
different
project
on
a
different
piece
of
property.
We
have
withdrawn
that
funding
commitment
and
they
will
most
likely
reapply
in
this
next
nofa
project.
D
So
just
a
quick
update
on
that
and
then
finally
I
believe
everyone
received
on
the
diocese.
You
sat
down
an
annual
report,
an
update
and
note
on
the
bicycle
Collective
project
that
is
tracking
to
be
completed
by
the
end
of
the
year.
So
we're
looking
forward
to
seeing
that
project
done
and
we
will
obviously
celebrate
the
ribbon
of
cutting
of
that
when
it
arrives.
F
F
Thursday
celebrating
the
gallivant
center,
so
can
we
live
between
30
years?
It
seems
like
it's
become
such
a
jewel
downtown.
So
a
lot
of
people
were
asking
me
what's
next
for
legal.
Even
so,
I'll
ask
you
what's
next,
let
us
know:
what's
next
for.
D
Yes,
we
in
fact,
literally
today,
we
I
think
the
Consultants
just
started
sending
out,
invites
and
emails
to
stakeholders
to
meet
as
we've
engaged
gsbs
to
start
looking
at
what
the
next
future
of
Gallivan
looks
like,
so
they
will
be
reaching
out
to
stakeholders
to
meet
with
them
and
gather
input
and
information
what
we
can
or
cannot
recommend
for
the
next
30
years
of
Gallivan.
So
thank
you.
Awesome.
A
A
Yes,
thank
you.
It
reports
from
sharing
my
share.
Okay
and
there's
no
right
ring,
briefings
or
consent
agenda,
but
it's
Council
Vice,
chair
Petro.
When
do
you
want
to
recombine
for
console.