Salt Lake County RDA approves interlocal agreement transferring two Magna project areas

Salt Lake County Redevelopment Agency on May 20 approved an interlocal cooperation agreement transferring the Magna Main Street project area and the Arbor Park urban renewal area, along with related parcels, contracts and fund balances, to the Community Reinvestment Agency (CRA) of Magna.

Kirsten Swinyard, redevelopment agency executive director, said the transfer is "the culmination of about the last 6 months' worth of work" between Salt Lake County and Magna. She told the board the agreement moves three categories of assets and obligations: conveyance of real property the county RDA owns, assignment of contracts and participation agreements, and an accounting and transfer of the remaining fund balances and contingency amounts for the two project areas.

The county RDA will transfer 10 parcels it owns to the Magna CRA via quitclaim deeds, Swinyard said, and will assign the agency's responsibilities under existing contracts that govern tax-increment receipts and payments tied to the project areas. Swinyard said both the Magna Main Street project area and the Arbor Park URA are still receiving tax increment at the time of the transfer.

Board members raised no substantive questions during the item. After Swinyard finished, the board moved and approved the interlocal cooperation agreement by voice vote. The chair called for the motion, which a board member moved and another seconded; the motion passed on an affirmative voice vote.

Earlier in the meeting the board approved the redevelopment agency minutes from March 25, 2025, also by voice vote.

With approval of the interlocal cooperation agreement, Swinyard said Salt Lake County Redevelopment Agency's involvement with the two named project areas will end once the transfers are executed and the conveyed assets and assigned contracts are accepted by the Magna CRA. Swinyard offered to answer any follow-up questions. The meeting then adjourned.