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County staff to dissolve two RDAs; council approves $5 million Deseret Peak account transfer
Summary
Staff said the county will present dissolution documents for two redevelopment agencies (Desert Peak and North Stansbury RDAs) at an upcoming meeting; the council also approved a $5 million line-item transfer consolidating Deseret Peak phase accounts.
Tooele County staff told the council they will bring dissolution documents to a future meeting for two county redevelopment agencies: Desert Peak RDA (the area known as Purple) and North Stansbury RDA (the Solbergs area). The Desert Peak area is being closed because the named developer is no longer active in the valley, and the North Stansbury RDA is closing after meeting the increment requirements in its agreement.
Allison McCoy, the county auditor, explained the upcoming action and said the Desert Peak dissolution is unrelated to a separate settlement agreement referenced in questions from council members. When a council member asked if the Desert Peak RDA dissolution involved a settlement agreement regarding property tied to the Romneys, Allison said, "So this is separate from the Romney agreement. Thank you."
Separately, the council approved a $5,000,000 line-item transfer to consolidate Deseret Peak phase accounts. Allison said the transfer moves funds from one Deseret Peak phase to another to consolidate accounts and characterized these as one-time funds. Council approved the transfer unanimously.
Staff said formal dissolution documents for both RDAs will be brought forward in an upcoming meeting for council action. The discussion on dissolution was informational; the line-item transfer was a formal approved motion.
