Salt Lake County RDA dissolves Packard Bell project area, outlines Magna transfer steps

The Salt Lake County Redevelopment Agency voted unanimously to adopt a resolution dissolving the original Arbor Park/Packard Bell redevelopment project area and heard a staff update on steps to transfer Magna-area project areas, contracts and property to the City of Magna.

The dissolution clears the record on an older project-area designation that staff said never collected tax increment. "The original project area does not exist. There's no tax area associated with it. There's no increment diversion associated with it," RDA staff member Kirsten said, describing the action as a cleanup step ahead of the larger transfer to Magna City. Board member Laurie moved the resolution; Board member Harrison seconded it, and the motion passed unanimously.

Agency staff framed the vote as one piece of a multi-step transfer process for project areas the board approved for transfer in December. Kirsten told the board the work falls into four main buckets: assignment of active contracts, financial settlement of tax increment, property transfers, and a final interlocal agreement (ILA) the RDA will bring back to the board to ratify the earlier steps.

On contracts, staff identified two active agreements tied to Magna: "Magna Main" and "Magna Arbor Park URA." Kirsten described a three-step signature sequence for contract assignments: the contracted third party signs first, Magna City signs second, and Salt Lake County signs last. She said staff will begin drafting assignment documents and seek placement on local agendas to complete the signings.

On finances, Kirsten said the county auditor finalizes tax revenue for project areas on an annual schedule, with 2024 revenue finalized by March 31. "Once that March 31st deadline passes, we will be able to calculate everything that we are owed, that we owe in return to settle up on the 2024 tax revenue," she said, adding staff hopes to present a consolidated figure to Magna City by the end of April and expects 3–4 weeks in April to finalize their calculations.

Staff reported the RDA and the county together own parcels in Magna that are part of the transfer. "The county RDA owns nine parcels of property in Magna and Salt Lake County as an entity owns three parks parcels in Magna," Kirsten said, noting the agency has asked Magna City to confirm whether it wants all 13 parcels and which entity should receive each parcel. Property transfers, she said, will include additional steps to preserve the county's environmental-liability protections: arms-length transactions, completion of required environmental reports, and selection of deed types appropriate to preserve defenses against liability.

The final step, Kirsten said, will be an ILA presented to the RDA board to ratify the contract assignments, financial settlement and property transfers. Staff is aiming to present that ILA by the end of May, with early June as a fallback.

During the meeting board members confirmed there is no conflict in leadership continuity as the RDA oversees the remaining projects. Board member Stringham moved and Board member Harrison seconded continuing the current chair and vice chair in their roles for the near term; the motion passed. The board also approved the minutes of its Dec. 10 meeting.

Board members and staff emphasized the need for coordination with Magna City and third parties and asked staff to notify board members of outreach from Magna. Kirsten said Magna has been "very anxious" to complete the transfers but that the process requires several cooperative steps and external reviews.

Votes at a glance: the board approved three procedural items during the meeting — approval of Dec. 10 minutes (motion moved and seconded; approved), election/confirmation of RDA officers to continue in current roles (motion moved by Stringham, second by Harrison; approved), and adoption of the resolution to dissolve the Arbor Park/Packard Bell project area (motion moved by Laurie, second by Harrison; approved). The dissolution applies only to the original Packard Bell project area named in the resolution; the active Arbor Park URA remains in place and continues to collect increment.

The board adjourned after the items; staff will proceed with drafting assignment documents, settling 2024 finances after the county auditor finalizes revenue on March 31, and moving property-transfer paperwork and environmental reviews forward with Magna City ahead of the planned ILA.