Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Cra Budget topic
No spam. Unsubscribe anytime.
CRA true-up, HTRZ approval and second parks‑bond tranche preview discussed at CRA board meeting
Summary
The CRA board reviewed a budget true‑up that adjusts project tax‑increment receipts and corrects a county accounting error, noted state approval of a Central Station HTRZ with a $370M cap, conducted a straw poll to release funds for 9‑Line property acquisitions, and received a preview of a nearly $35M second tranche request for the 2022 parks and trails bond.
At the May 13 meeting the Community Reinvestment Agency (CRA) board handled several business items and briefings:
- Public comment: Neil Amonson spoke in person to raise allegations about a lease termination by the Salt Lake City Department of Airports; he reported having provided documentation to the FAA district office and said he had not initiated litigation (board accepted written materials for the record).
- Budget amendment #2 (FY24–25) true‑up: Staff explained this amendment aligns conservative tax‑increment estimates used in the budget with actual receipts from the county (the CRA received about $4.88M more in interest than expected). Legally required pass‑through payments decreased by about $420K, tax‑increment reimbursement agreements increased by about $350K, and affordable‑housing set‑asides increased about $330K. An accounting error had caused the county to remit library tax increment to the CRA (~$1.8M); the amendment would transfer those funds to the library to correct the error. A public hearing is scheduled for June 10.
- HTRZ: Staff said the state HTRZ committee approved the Central Station HTRZ with a cap of $370M over 28 years (reduced from $550M originally requested); the CRA will continue interlocal negotiations and project planning.
- Straw poll and property acquisitions: The board held a straw poll authorizing release of strategic‑intervention funds for acquisition in the 9‑Line area; the poll passed 6–0 (one member absent). Staff clarified these were budgeted funds and this action would allocate them to specific acquisitions.
- Parks bond second tranche preview: Planning & design staff previewed the second tranche request (~$34.99M) for the 2022 parks/trails/open‑space bond, noted that Glendale Park phase 2 represents a large portion of that request, and outlined schedules for tranche approvals and construction bid timing. Staff also proposed modest reclassifications of bond‑funded positions and a part‑time arts‑council role to manage public‑art commissions for bond projects.
Next steps: CRA will bring the budget amendment to a June public hearing; a future CRA/City interlocal and bond‑parameters work will follow on the parks tranche.
