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Magna CRA board designates survey area to enable potential property purchase and project-area process
Summary
The Magna Community Reinvestment Agency adopted Resolution R2025-05 to designate a survey area for a potential CRA project tied to a contemplated purchase on Bridal Street, authorizing staff to begin plan and budget preparation and set a public-hearing timeline.
The Magna Community Reinvestment Agency board voted to adopt Resolution R2025-05, authorizing agency staff to identify and survey a project area to support a potential city purchase on Bridal Street and to begin preparation of a draft CRA plan and budget.
The board’s action, made during a regularly scheduled meeting, moves the first formal step of a multi-part process that includes finalizing boundaries, preparing a CRA plan and budget, setting a public hearing and mailing and posting required notices at least 30 days before that hearing. An agency staff presenter told the board, “The city is contemplating a purchase of a property Bridal Street, in consultation with our CRA attorney,” and walked the board through the typical sequence of steps for creating a project area.
Why this matters: designating a survey area starts a process that allows the CRA to facilitate property acquisition, transfer or redevelopment under CRA procedures. The presenter emphasized this instance is intended as a limited project-area step tied to a specific parcel and said, “There would be no need to capture a tax increment as a traditional CRA district would do,” indicating the board is not seeking tax-increment financing as part of this immediate action.
Details discussed included the statutory and administrative sequence the presenter read from the packet: identify an area with potential for project-area development; agency board adoption of a survey resolution authorizing staff work; finalization of boundaries; preparation of a draft CRA plan and budget; setting a date for a public hearing; mailing and posting notices 30 days in advance; holding public hearings on the plan and budget; the agency adopting a CRA plan by resolution; and city council approval of the CRA plan by ordinance. The presenter noted a map and visual were included in the meeting packet and could be displayed on request.
Board action: an unidentified board member moved to approve Resolution R2025-05; the motion was seconded and passed after an affirmative vote, with the chair recording that the matter "moves forward." The vote was recorded in the meeting as several "Aye" responses and the motion declared passed.
Next steps: staff is authorized to proceed with the survey-resolution process described in the packet and to prepare the draft CRA plan and budget for later public hearing and formal adoption procedures by the agency and city council.
