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Murray Redevelopment Agency outlines fund balances and sunset dates for downtown and other districts
Summary
Redevelopment staff reviewed balances and timelines across Murray City’s redevelopment agency (RDA) areas, describing restricted low-income housing accounts, repayment schedules to schools and utilities, and plans for Cherry Street and Central Business District funds.
Redevelopment Agency staff on Oct. 21 presented updated fund balances for Murray City’s RDA districts, reporting which districts are still collecting increment, which are approaching expiration, and how restricted housing funds and reimbursements are scheduled to be paid.
Agency finance staffer Brenda Moore told the board the Cherry Street district stopped collecting in 2023 and now holds about $41,000; staff plan to contribute that remaining balance toward a stormwater retention pond on Jensen Lane in fiscal 2026 and then close the area. Moore said East Vine’s increment collections run through 2028 and the area had $90,000 in balance after spending about $229,000 on part of a Vine Street repaving project in fiscal 2025.
The largest balances are in Fireclay and the…
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