Special RDA

MINUTES OF THE REDEVELOPMENT AGENCY SPECIAL MEETING – AUGUST 23, 2022 -1- THE REDEVELOPMENT AGENCY OF WEST VALLEY CITY MET IN SPECIAL SESSION ON TUESDAY, AUGUST 23, 2022, AT 7:20 P.M. IN THE COUNCIL CHAMBERS, WEST VALLEY CITY HALL, 3600 CONSTITUTION BOULEVARD, WEST VALLEY CITY, UTAH. THE MEETING WAS CALLED TO ORDER BY CHAIRMAN SCOTT HARMON. THE FOLLOWING MEMBERS WERE PRESENT: Scott Harmon, Chair Jake Fitisemanu William Whetstone Tom Huynh Don Christensen (electronically) Lars Nordfelt ABSENT: Karen Lang STAFF PRESENT: Wayne Pyle, City Manager Nichole Camac, City Recorder Eric Bunderson, City Attorney Colleen Jacobs, Police Chief (electronically) John Evans, Fire Chief Jim Welch, Finance Director (electronically) Steve Pastorik, CED Director Layne Morris, CPD Director Dan Johnson, Public Works Director Jason Erekson, Acting Parks and Recreation Director (electronically) John Flores, HR Director (electronically) Sam Johnson, Strategic Communications Director Ken Cushing, IT (electronically) APPROVAL OF MINUTES OF REGULAR MEETING HELD JUNE 28, 2022 The Board considered Minutes of the Special Meeting held June 28, 2022. There were no changes, corrections or deletions. Mr. Huynh moved to approve the Minutes of the Special Meeting held June 28, 2022. Mr. Whetstone seconded the motion. MINUTES OF THE REDEVELOPMENT AGENCY SPECIAL MEETING – AUGUST 23, 2022 -2- A voice vote was taken and all members voted in favor of the motion. RESOLUTION 22-05: EXTEND A LOAN TO WEST VALLEY CITY, APPROVE INTERAREA LOANS, AND AUTHORIZE THE EXECUTION OF A PROMISSORY NOTE Wayne Pyle, City Manager, presented proposed Resolution 22-05 that would extend a Loan to West Valley City, Approve Interarea Loans, and Authorize the Execution of a Promissory Note Written documentation previously provided to the City Council included information as follows: Programming at the Maverik Center is a critical component to driving increased economic growth at the venue. In order for the city to optimize revenue and sustainable revenue growth, it needs the increased ability to procure programming and promote or co-promote shows independently. Standard industry practice is for promoters to pay the performer a deposit (generally 50% of projected ticket sales, but it varies) upon execution of the agreement to secure the date. Upon the performance occurring, the event gross revenue is reconciled, and the funds replenished. This line of credit will solely be used to secure the artist’s deposits. These standard deposits are low risk, as it is rare that a performer will sell less than 50% of projected ticket sales - when the aggregate of deposits is pooled together amongst numerous shows, the risk is further mitigated. Presently, the City (through Centennial Management) participates in promotion or co-promotion on a limited basis using the annual operating budget. This $1,000,000.00 loan from the WVC RDA will provide the City the opportunity to significantly increase revenue, economic impact, and programming by immediately increasing the ability to procure shows and events at the venue more competitively and with more frequency. Councilmember Whetstone stated that he recognizes the importance but would prefer to use RDA funds on direct Redevelopment. Councilmember Fitisemanu stated that he agrees but also understands that using the funds this way will help local businesses, improve perception, and potentially draw in corporate partners. Upon inquiry by Chairman Harmon there were no further questions from members of the Agency, and he called for a motion. MINUTES OF THE REDEVELOPMENT AGENCY SPECIAL MEETING – AUGUST 23, 2022 -3- Mr. Nordfelt moved to approve Resolution 22-05. Mr. Huynh seconded the motion. A roll call vote was taken: Mr. Fitisemanu Yes Mr. Whetstone No Mr. Huynh Yes Ms. Lang Absent Mr. Nordfelt Yes Mr. Christensen Yes Chairman Harmon Yes Majority. RESOLUTION 22-06: AUTHORIZE THE REDEVELOPMENT AGENCY OF WEST VALLEY CITY TO RENEW THE HOMETOWN SCHOLARS CONTRIBUTION AGREEMENT WITH THE UNIVERSITY OF UTAH Wayne Pyle, City Manager, presented proposed Resolution 22-06 that would authorize the Redevelopment Agency of West Valley City to Renew the Hometown Scholars Contribution Agreement with the University of Utah. Written documentation previously provided to the City Council included information as follows: As part of the City Council’s goal of creating and maintaining a sustainable city, the RDA has been tasked with improving opportunities for secondary education for West Valley City students. The City Council and the Board recognized that having an educated workforce present in the city provides for many economic development opportunities not otherwise available. As the City moves to the future it is important to maintain the workforce already in place and to increase the educational attainment levels of our residents. This is the sixth year of the Opportunity Scholars-RDA partnership. This year the My Hometown Scholarship program assisted 55 West Valley City University Students. There have been 10 students graduate from the program with an additional 24 scheduled to graduate this year. This scholarship program is widely advertised and promoted at all of the City’s High Schools as well as to WVC seniors that live in the City but may attend MINUTES OF THE REDEVELOPMENT AGENCY SPECIAL MEETING – AUGUST 23, 2022 -4- schools out of our boundary. If these students take the My Hometown scholarship monies they agree to represent West Valley City and will either remain living in the City or come back to the city and seek employment long term in the City as well. To this end, since its inception, 25 students have been involved in internships with various businesses in the City as well. The RDA will use its state law mandated housing set aside money to provide affordable housing and other tools to at least 16 students from West Valley City that will attend the University of Utah in the Fall of 2022. These students will be in the program, will live at Fairbourne Station, will attend classes via the Trax line, and will be provided other mentor and scholarship opportunities through the university to ensure their success. Opportunity scholars has a 93% graduation rate for those in its program. Opportunity scholars serves first generation college students. The Opportunity Scholars program provides retention resources such as tutors, mentors, internships, advising, career-services, service-learning projects, community outreach, networking opportunities, counseling, financial assistance, and access to the program director. Upon inquiry by Chairman Harmon there were no further questions from members of the Agency, and he called for a motion. Mr. Huynh moved to approve Resolution 22-06. Mr. Fitisemanu seconded the motion. A roll call vote was taken: Mr. Fitisemanu Yes Mr. Whetstone Yes Mr. Huynh Yes Ms. Lang Absent Mr. Nordfelt Yes Mr. Christensen Yes Chairman Harmon Yes Unanimous. RESOLUTION 22-07: AUTHORIZE THE AGENCY TO EXECUTE A REAL ESTATE PURCHASE AND SALE AGREEMENT WITH THOMAS MINUTES OF THE REDEVELOPMENT AGENCY SPECIAL MEETING – AUGUST 23, 2022 -5- AND NANCY BRUZENAK FOR PROPERTIES LOCATED AT 3043 WEST LEHMAN AVENUE AND 3064-3066 WEST LEHMAN AVENUE Wayne Pyle, City Manager, presented proposed Resolution 22-07 that would authorize the Agency to Execute a Real Estate Purchase and Sale Agreement with Thomas and Nancy Bruzenak for Properties Located at 3043 West Lehman Avenue and 3064-3066 West Lehman Avenue. Written documentation previously provided to the City Council included information as follows: West Valley City Redevelopment Agency (RDA) desires to acquire the following residential properties: 3043 W. Lehman Avenue and 3064-3066 W. Lehman Avenue. The Fairbourne Station master plan includes acquiring the properties on Lehman Avenue for the ongoing redevelopment of Fairbourne Station. Over the last 15 years, The RDA has acquired properties in the Fairbourne Station area for future redevelopment. The acquisition of these properties has led to the redevelopment and rising of Fairbourne Station as we know it today. Fairbourne Station includes Granger Medical, Embassy Suites, West Valley City Public Safety Building, a 7-level parking garage, 9-story office tower, and luxury residential apartments with an appealing promenade. Upon inquiry by Chairman Harmon there were no further questions from members of the Agency, and he called for a motion. Mr. Nordfelt moved to continue Resolution 22-07 to September 6, 2022 Mr. Huynh seconded the motion. A roll call vote was taken: Mr. Fitisemanu Yes Mr. Whetstone Yes Mr. Huynh Yes Ms. Lang Absent Mr. Nordfelt Yes Mr. Christensen Yes Chairman Harmon Yes MINUTES OF THE REDEVELOPMENT AGENCY SPECIAL MEETING – AUGUST 23, 2022 -6- Unanimous. Continued. MOTION TO ADJOURN All voted in favor to adjourn. THERE BEING NO FURTHER BUSINESS OF THE REDEVELOPMENT AGENCY OF WEST VALLEY CITY, THE SPECIAL MEETING OF TUESDAY, AUGUST 23, 2022, WAS ADJOURNED AT 7:31 PM. BY CHAIRMAN HARMON. I hereby certify the foregoing to be a true, accurate and complete record of the proceedings of the Special Meeting of the Redevelopment Agency of West Valley City held Tuesday, August 23, 2022. ______________________________ Nichole Camac Secretary