Special RDA Meeting

MINUTES OF RDA SPECIAL REGULAR MEETING – NOVEMBER 27, 2018 -1- THE WEST VALLEY CITY REDEVELOPMENT AGENCY MET IN SPECIAL REGULAR SESSION ON TUESDAY, NOVEMBER 27, 2018, AT 7:08 P.M. IN THE CITY COUNCIL CHAMBERS, WEST VALLEY CITY HALL, 3600 CONSTITUTION BOULEVARD, WEST VALLEY CITY, UTAH. THE MEETING WAS CALLED TO ORDER BY CHAIRMAN NORDFELT. THE FOLLOWING MEMBERS WERE PRESENT: Lars Nordfelt, Chair Ron Bigelow Tom Huynh Steve Buhler Karen Lang Don Christensen ABSENT: Jake Fitisemanu STAFF PRESENT: Wayne Pyle, Chief Executive Officer Angel Pezely, Acting Secretary Mark Nord, RDA/ED Director Eric Bunderson, City Attorney Russ Willardson, Public Works Director Layne Morris, CPD Director Nancy Day, Parks and Recreation Director Anita Schwimmer, Acting Police Chief John Evans, Fire Chief Jim Welch, Finance Director Jake Arslanian, Public Works Department RESOLUTION 18-10: AUTHORIZE THE AGENCY TO EXECUTE AN INCENTIVE AGREEMENT WITH CONSTITUTION BOULEVARD HOTEL, LLC Wayne Pyle, Chief Executive Officer, presented proposed Resolution 18-10 that would authorize the Agency to execute an Incentive Agreement with Constitution Boulevard Hotel, LLC. Written documentation previously provided to the Redevelopment Agency included information as follows: MINUTES OF RDA SPECIAL REGULAR MEETING – NOVEMBER 27, 2018 -2- The $1,000,000 incentive to be paid to CBH will come from the City Center RDA in 5 annual payments starting in November 2019. The City Center RDA area will expire in 2025 and so all incentives and payments need to be completed by end of year 2024 Pursuant to the Agreement, the RDA would pay CBH the five annual payments of $200,000 provided that CBH commit to spend the $1,000,000 on improvements to the site. CBH is intending to build a Marriott Springhill suites on the east side of the Valley Fair Mall. As the developer worked with staff on the permitted use, the West Valley City RDA engaged and encouraged the developer to build taller and change the design to be more unique. The costs associated with building taller and the design change are being partially offset with the purposed incentive. The purposed Marriott will be part of our Fairbourne downtown and staff felt this Hotel needed to be upgraded to look the part of our downtown vision. Upon inquiry by Chairman Nordfelt there were no further questions from members of the Board, and he called for a motion. Mr. Steve Buhler moved to approve Resolution No. 18-10. Mr. Tom Huynh seconded the motion. A roll call vote was taken: Mr. Bigelow Yes Mr. Buhler Yes Mr. Christensen Yes Mr. Huynh Yes Ms. Lang Yes Chairman Nordfelt Yes Unanimous. MOTION TO ADJOURN Upon motion by Don Christensen all voted in favor to adjourn. THERE BEING NO FURTHER BUSINESS OF THE WEST VALLEY REDEVELOPMENT AGENCY THE SPECIAL REGULAR MEETING OF TUESDAY, MINUTES OF RDA SPECIAL REGULAR MEETING – NOVEMBER 27, 2018 -3- NOVEMBER 27, 2018, WAS ADJOURNED AT 7:11 P.M. BY CHAIRMAN NORDFELT. I hereby certify the foregoing to be a true, accurate and complete record of the proceedings of the Special Regular Meeting of the West Valley City Redevelopment Agency held Tuesday, November 27, 2018. ______________________________ Angel Pezely Acting Secretary