Special RDA Meeting

MINUTES OF RDA SPECIAL MEETING – DECEMBER 14, 2021 -1- THE WEST VALLEY CITY REDEVELOPMENT AGENCY MET IN SPECIAL SESSION ON TUESDAY, DECEMBER 14, 2021, AT 7:52 P.M. IN THE COUNCIL CHAMBERS, WEST VALLEY CITY HALL, 3600 CONSTITUTION BOULEVARD, WEST VALLEY CITY, UTAH. THE MEETING WAS ALSO HELD ELECTRONICALLY VIA ZOOM.THE MEETING WAS CALLED TO ORDER BY CHAIRWOMAN LANG. THE FOLLOWING MEMBERS WERE PRESENT: Karen Lang, Chair Steve Buhler, Vice-Chair Lars Nordfelt Don Christensen Tom Huynh Ron Bigelow Jake Fitisemanu STAFF PRESENT: Wayne Pyle, Executive Director Nichole Camac, Secretary Nicole Cottle, Assistant City Manager Eric Bunderson, City Attorney Layne Morris, CPD Director (electronically) Scott Buchanan, Acting Police Chief (electronically) John Evans, Fire Chief (electronically) Jim Welch, Finance Director (electronically) Nancy Day, Parks and Recreation Director Dan Johnson, Public Works Director Sam Johnson, Strategic Communications Director John Flores, HR Director (electronically) APPROVAL OF MINUTES OF THE REGULAR MEETING HELD OCTOBER 5, 2021 The Agency considered the Minutes of the Regular Meeting held October 5, 2021. There were no changes, corrections or deletions. Mr. Fitisemanu moved to approve the Minutes of the Regular Meeting held October 5, 2021. Mr. Christensen seconded the motion. A voice vote was taken and all members voted in favor of the motion.  MINUTES OF RDA SPECIAL MEETING – DECEMBER 14, 2021 -2- RESOLUTION 21-11: EXTEND THE PROJECT AREA FUNDS COLLECTION PERIOD FOR THE 5600 GATEWAY PROJECT AREA DUE TO THE COVID-19 EMERGENCY Wayne Pyle, Executive Director, presented proposed Resolution 21-11 that would extend the Project Area Funds Collection Period for the 5600 Gateway Project Area due to the COVID-19 Emergency Written documentation previously provided to the City Council included information as follows: In response to the COVID-19 emergency, the State Legislature authorized a two- year extension for impacted project areas. This extension does not change the project area plan or affect the maximum amount of tax increment the agency is authorized to receive. It simply acknowledges the impact caused by the COVID- 19 emergency and extends the collection period by two years, with a resolution by the RDA Board. While each project area has a unique economic structure, and each requires its own resolution, the impact is similar and ubiquitous. Retail development was the most obviously affected by the COVID-19 emergency, initially with shutdowns, but the impact remains with hesitancy from shoppers and a shift to direct-to- consumer purchasing. Retailers have closed locations and delayed or postponed expansion due to market uncertainty. Commercial Office may prove to be the most impacted development section over time. The commercial office market has come to a virtual halt due to the market insecurities caused by the number of employers that continue to have their employees work remotely. New construction has been impacted by the global supply chain issues impacting construction materials, in terms of timing, availability, and cost. And the taxable valuation of the properties in these impacted project areas has been affected, due to the factors discussed previously, but also due to the Income Method of property valuation used by the Salt Lake County Assessor. These factors are all present in these impacted project areas, and that impact has resulted in a direct effect on the Tax Increment generated and collected for each project area. The resolutions extending the collection period by two years will allow the Agency the additional time needed for the impacted project areas to reach their full potential. RESOLUTION 21-12: EXTEND THE PROJECT AREA FUNDS COLLECTION PERIOD FOR THE CITY CENTER PROJECT AREA DUE TO THE COVID-19 EMERGENCY Wayne Pyle, Executive Director, presented proposed Resolution 21-12 that would extend  MINUTES OF RDA SPECIAL MEETING – DECEMBER 14, 2021 -3- the Project Area Funds Collection Period for the City Center Project Area due to the COVID-19 Emergency Written documentation previously provided to the City Council included information as follows: In response to the COVID-19 emergency, the State Legislature authorized a two- year extension for impacted project areas. This extension does not change the project area plan or affect the maximum amount of tax increment the agency is authorized to receive. It simply acknowledges the impact caused by the COVID- 19 emergency and extends the collection period by two years, with a resolution by the RDA Board. While each project area has a unique economic structure, and each requires its own resolution, the impact is similar and ubiquitous. Retail development was the most obviously affected by the COVID-19 emergency, initially with shutdowns, but the impact remains with hesitancy from shoppers and a shift to direct-to- consumer purchasing. Retailers have closed locations and delayed or postponed expansion due to market uncertainty. Commercial Office may prove to be the most impacted development section over time. The commercial office market has come to a virtual halt due to the market insecurities caused by the number of employers that continue to have their employees work remotely. New construction has been impacted by the global supply chain issues impacting construction materials, in terms of timing, availability, and cost. And the taxable valuation of the properties in these impacted project areas has been affected, due to the factors discussed previously, but also due to the Income Method of property valuation used by the Salt Lake County Assessor. These factors are all present in these impacted project areas, and that impact has resulted in a direct effect on the Tax Increment generated and collected for each project area. The resolutions extending the collection period by two years will allow the Agency the additional time needed for the impacted project areas to reach their full potential. RESOLUTION 21-13: EXTEND THE PROJECT AREA FUNDS COLLECTION PERIOD FOR THE EAST 3500 SOUTH PROJECT AREA DUE TO THE COVID- 19 EMERGENCY Wayne Pyle, Executive Director, presented proposed Resolution 21-13 that would extend the Project Area Funds Collection Period for the East 3500 South Project Area due to the COVID-19 Emergency Written documentation previously provided to the City Council included information as  MINUTES OF RDA SPECIAL MEETING – DECEMBER 14, 2021 -4- follows: In response to the COVID-19 emergency, the State Legislature authorized a two- year extension for impacted project areas. This extension does not change the project area plan or affect the maximum amount of tax increment the agency is authorized to receive. It simply acknowledges the impact caused by the COVID- 19 emergency and extends the collection period by two years, with a resolution by the RDA Board. While each project area has a unique economic structure, and each requires its own resolution, the impact is similar and ubiquitous. Retail development was the most obviously affected by the COVID-19 emergency, initially with shutdowns, but the impact remains with hesitancy from shoppers and a shift to direct-to- consumer purchasing. Retailers have closed locations and delayed or postponed expansion due to market uncertainty. Commercial Office may prove to be the most impacted development section over time. The commercial office market has come to a virtual halt due to the market insecurities caused by the number of employers that continue to have their employees work remotely. New construction has been impacted by the global supply chain issues impacting construction materials, in terms of timing, availability, and cost. And the taxable valuation of the properties in these impacted project areas has been affected, due to the factors discussed previously, but also due to the Income Method of property valuation used by the Salt Lake County Assessor. These factors are all present in these impacted project areas, and that impact has resulted in a direct effect on the Tax Increment generated and collected for each project area. The resolutions extending the collection period by two years will allow the Agency the additional time needed for the impacted project areas to reach their full potential. RESOLUTION 21-14: EXTEND THE PROJECT AREA FUNDS COLLECTION PERIOD FOR THE FAIRBOURNE PROJECT AREA DUE TO THE COVID-19 EMERGENCY Wayne Pyle, Executive Director, presented proposed Resolution 21-14 that would extend the Project Area Funds Collection Period for the Fairbourne Project Area due to the COVID-19 Emergency Written documentation previously provided to the City Council included information as follows: In response to the COVID-19 emergency, the State Legislature authorized a two- year extension for impacted project areas. This extension does not change the  MINUTES OF RDA SPECIAL MEETING – DECEMBER 14, 2021 -5- project area plan or affect the maximum amount of tax increment the agency is authorized to receive. It simply acknowledges the impact caused by the COVID- 19 emergency and extends the collection period by two years, with a resolution by the RDA Board. While each project area has a unique economic structure, and each requires its own resolution, the impact is similar and ubiquitous. Retail development was the most obviously affected by the COVID-19 emergency, initially with shutdowns, but the impact remains with hesitancy from shoppers and a shift to direct-to- consumer purchasing. Retailers have closed locations and delayed or postponed expansion due to market uncertainty. Commercial Office may prove to be the most impacted development section over time. The commercial office market has come to a virtual halt due to the market insecurities caused by the number of employers that continue to have their employees work remotely. New construction has been impacted by the global supply chain issues impacting construction materials, in terms of timing, availability, and cost. And the taxable valuation of the properties in these impacted project areas has been affected, due to the factors discussed previously, but also due to the Income Method of property valuation used by the Salt Lake County Assessor. These factors are all present in these impacted project areas, and that impact has resulted in a direct effect on the Tax Increment generated and collected for each project area. The resolutions extending the collection period by two years will allow the Agency the additional time needed for the impacted project areas to reach their full potential. RESOLUTION 21-15: EXTEND THE PROJECT AREA FUNDS COLLECTION PERIOD FOR THE HERCULES A PROJECT AREA DUE TO THE COVID-19 EMERGENCY Wayne Pyle, Executive Director, presented proposed Resolution 21-15 that would extend the Project Area Funds Collection Period for the Hercules A Project Area due to the COVID-19 Emergency Written documentation previously provided to the City Council included information as follows: In response to the COVID-19 emergency, the State Legislature authorized a two- year extension for impacted project areas. This extension does not change the project area plan or affect the maximum amount of tax increment the agency is authorized to receive. It simply acknowledges the impact caused by the COVID- 19 emergency and extends the collection period by two years, with a resolution by the RDA Board.  MINUTES OF RDA SPECIAL MEETING – DECEMBER 14, 2021 -6- While each project area has a unique economic structure, and each requires its own resolution, the impact is similar and ubiquitous. Retail development was the most obviously affected by the COVID-19 emergency, initially with shutdowns, but the impact remains with hesitancy from shoppers and a shift to direct-to- consumer purchasing. Retailers have closed locations and delayed or postponed expansion due to market uncertainty. Commercial Office may prove to be the most impacted development section over time. The commercial office market has come to a virtual halt due to the market insecurities caused by the number of employers that continue to have their employees work remotely. New construction has been impacted by the global supply chain issues impacting construction materials, in terms of timing, availability, and cost. And the taxable valuation of the properties in these impacted project areas has been affected, due to the factors discussed previously, but also due to the Income Method of property valuation used by the Salt Lake County Assessor. These factors are all present in these impacted project areas, and that impact has resulted in a direct effect on the Tax Increment generated and collected for each project area. The resolutions extending the collection period by two years will allow the Agency the additional time needed for the impacted project areas to reach their full potential. RESOLUTION 21-16: EXTEND THE PROJECT AREA FUNDS COLLECTION PERIOD FOR THE HERCULES B PROJECT AREA DUE TO THE COVID-19 EMERGENCY Wayne Pyle, Executive Director, presented proposed Resolution 21-16 that would extend the Project Area Funds Collection Period for the Hercules B Project Area due to the COVID-19 Emergency Written documentation previously provided to the City Council included information as follows: In response to the COVID-19 emergency, the State Legislature authorized a two- year extension for impacted project areas. This extension does not change the project area plan or affect the maximum amount of tax increment the agency is authorized to receive. It simply acknowledges the impact caused by the COVID- 19 emergency and extends the collection period by two years, with a resolution by the RDA Board. While each project area has a unique economic structure, and each requires its own resolution, the impact is similar and ubiquitous. Retail development was the most obviously affected by the COVID-19 emergency, initially with shutdowns,  MINUTES OF RDA SPECIAL MEETING – DECEMBER 14, 2021 -7- but the impact remains with hesitancy from shoppers and a shift to direct-to- consumer purchasing. Retailers have closed locations and delayed or postponed expansion due to market uncertainty. Commercial Office may prove to be the most impacted development section over time. The commercial office market has come to a virtual halt due to the market insecurities caused by the number of employers that continue to have their employees work remotely. New construction has been impacted by the global supply chain issues impacting construction materials, in terms of timing, availability, and cost. And the taxable valuation of the properties in these impacted project areas has been affected, due to the factors discussed previously, but also due to the Income Method of property valuation used by the Salt Lake County Assessor. These factors are all present in these impacted project areas, and that impact has resulted in a direct effect on the Tax Increment generated and collected for each project area. The resolutions extending the collection period by two years will allow the Agency the additional time needed for the impacted project areas to reach their full potential. RESOLUTION 21-17: EXTEND THE PROJECT AREA FUNDS COLLECTION PERIOD FOR THE JORDAN RIVER PROJECT AREA DUE TO THE COVID-19 EMERGENCY Wayne Pyle, Executive Director, presented proposed Resolution 21-17 that would extend the Project Area Funds Collection Period for the Jordan River Project Area due to the COVID-19 Emergency Written documentation previously provided to the City Council included information as follows: In response to the COVID-19 emergency, the State Legislature authorized a two- year extension for impacted project areas. This extension does not change the project area plan or affect the maximum amount of tax increment the agency is authorized to receive. It simply acknowledges the impact caused by the COVID- 19 emergency and extends the collection period by two years, with a resolution by the RDA Board. While each project area has a unique economic structure, and each requires its own resolution, the impact is similar and ubiquitous. Retail development was the most obviously affected by the COVID-19 emergency, initially with shutdowns, but the impact remains with hesitancy from shoppers and a shift to direct-to- consumer purchasing. Retailers have closed locations and delayed or postponed expansion due to market uncertainty. Commercial Office may prove to be the most impacted development section over time. The commercial office market has  MINUTES OF RDA SPECIAL MEETING – DECEMBER 14, 2021 -8- come to a virtual halt due to the market insecurities caused by the number of employers that continue to have their employees work remotely. New construction has been impacted by the global supply chain issues impacting construction materials, in terms of timing, availability, and cost. And the taxable valuation of the properties in these impacted project areas has been affected, due to the factors discussed previously, but also due to the Income Method of property valuation used by the Salt Lake County Assessor. These factors are all present in these impacted project areas, and that impact has resulted in a direct effect on the Tax Increment generated and collected for each project area. The resolutions extending the collection period by two years will allow the Agency the additional time needed for the impacted project areas to reach their full potential. RESOLUTION 21-18: EXTEND THE PROJECT AREA FUNDS COLLECTION PERIOD FOR THE NORTH CENTRAL PROJECT AREA DUE TO THE COVID- 19 EMERGENCY Wayne Pyle, Executive Director, presented proposed Resolution 21-18 that would extend the Project Area Funds Collection Period for the North Central Project Area due to the COVID-19 Emergency Written documentation previously provided to the City Council included information as follows: In response to the COVID-19 emergency, the State Legislature authorized a two- year extension for impacted project areas. This extension does not change the project area plan or affect the maximum amount of tax increment the agency is authorized to receive. It simply acknowledges the impact caused by the COVID- 19 emergency and extends the collection period by two years, with a resolution by the RDA Board. While each project area has a unique economic structure, and each requires its own resolution, the impact is similar and ubiquitous. Retail development was the most obviously affected by the COVID-19 emergency, initially with shutdowns, but the impact remains with hesitancy from shoppers and a shift to direct-to- consumer purchasing. Retailers have closed locations and delayed or postponed expansion due to market uncertainty. Commercial Office may prove to be the most impacted development section over time. The commercial office market has come to a virtual halt due to the market insecurities caused by the number of employers that continue to have their employees work remotely. New construction has been impacted by the global supply chain issues impacting construction materials, in terms of timing, availability, and cost. And the taxable  MINUTES OF RDA SPECIAL MEETING – DECEMBER 14, 2021 -9- valuation of the properties in these impacted project areas has been affected, due to the factors discussed previously, but also due to the Income Method of property valuation used by the Salt Lake County Assessor. These factors are all present in these impacted project areas, and that impact has resulted in a direct effect on the Tax Increment generated and collected for each project area. The resolutions extending the collection period by two years will allow the Agency the additional time needed for the impacted project areas to reach their full potential. RESOLUTION 21-19: EXTEND THE PROJECT AREA FUNDS COLLECTION PERIOD FOR THE NORTHWEST PROJECT AREA DUE TO THE COVID-19 EMERGENCY Wayne Pyle, Executive Director, presented proposed Resolution 21-19 that would extend the Project Area Funds Collection Period for the Northwest Project Area due to the COVID-19 Emergency Written documentation previously provided to the City Council included information as follows: In response to the COVID-19 emergency, the State Legislature authorized a two- year extension for impacted project areas. This extension does not change the project area plan or affect the maximum amount of tax increment the agency is authorized to receive. It simply acknowledges the impact caused by the COVID- 19 emergency and extends the collection period by two years, with a resolution by the RDA Board. While each project area has a unique economic structure, and each requires its own resolution, the impact is similar and ubiquitous. Retail development was the most obviously affected by the COVID-19 emergency, initially with shutdowns, but the impact remains with hesitancy from shoppers and a shift to direct-to- consumer purchasing. Retailers have closed locations and delayed or postponed expansion due to market uncertainty. Commercial Office may prove to be the most impacted development section over time. The commercial office market has come to a virtual halt due to the market insecurities caused by the number of employers that continue to have their employees work remotely. New construction has been impacted by the global supply chain issues impacting construction materials, in terms of timing, availability, and cost. And the taxable valuation of the properties in these impacted project areas has been affected, due to the factors discussed previously, but also due to the Income Method of property valuation used by the Salt Lake County Assessor.  MINUTES OF RDA SPECIAL MEETING – DECEMBER 14, 2021 -10- These factors are all present in these impacted project areas, and that impact has resulted in a direct effect on the Tax Increment generated and collected for each project area. The resolutions extending the collection period by two years will allow the Agency the additional time needed for the impacted project areas to reach their full potential. RESOLUTION 21-20: EXTEND THE PROJECT AREA FUNDS COLLECTION PERIOD FOR THE SOUTH REDWOOD PROJECT AREA DUE TO THE COVID- 19 EMERGENCY Wayne Pyle, Executive Director, presented proposed Resolution 21-20 that would extend the Project Area Funds Collection Period for the South Redwood Project Area due to the COVID-19 Emergency. Written documentation previously provided to the City Council included information as follows: In response to the COVID-19 emergency, the State Legislature authorized a two- year extension for impacted project areas. This extension does not change the project area plan or affect the maximum amount of tax increment the agency is authorized to receive. It simply acknowledges the impact caused by the COVID- 19 emergency and extends the collection period by two years, with a resolution by the RDA Board. While each project area has a unique economic structure, and each requires its own resolution, the impact is similar and ubiquitous. Retail development was the most obviously affected by the COVID-19 emergency, initially with shutdowns, but the impact remains with hesitancy from shoppers and a shift to direct-to- consumer purchasing. Retailers have closed locations and delayed or postponed expansion due to market uncertainty. Commercial Office may prove to be the most impacted development section over time. The commercial office market has come to a virtual halt due to the market insecurities caused by the number of employers that continue to have their employees work remotely. New construction has been impacted by the global supply chain issues impacting construction materials, in terms of timing, availability, and cost. And the taxable valuation of the properties in these impacted project areas has been affected, due to the factors discussed previously, but also due to the Income Method of property valuation used by the Salt Lake County Assessor. These factors are all present in these impacted project areas, and that impact has resulted in a direct effect on the Tax Increment generated and collected for each project area. The resolutions extending the collection period by two years will  MINUTES OF RDA SPECIAL MEETING – DECEMBER 14, 2021 -11- allow the Agency the additional time needed for the impacted project areas to reach their full potential. RESOLUTION 21-21: EXTEND THE PROJECT AREA FUNDS COLLECTION PERIOD FOR THE SOUTHWEST PROJECT AREA DUE TO THE COVID-19 EMERGENCY Wayne Pyle, Executive Director, presented proposed Resolution 21-21 that would extend the Project Area Funds Collection Period for the Southwest Project Area due to the COVID-19 Emergency Written documentation previously provided to the City Council included information as follows: In response to the COVID-19 emergency, the State Legislature authorized a two- year extension for impacted project areas. This extension does not change the project area plan or affect the maximum amount of tax increment the agency is authorized to receive. It simply acknowledges the impact caused by the COVID- 19 emergency and extends the collection period by two years, with a resolution by the RDA Board. While each project area has a unique economic structure, and each requires its own resolution, the impact is similar and ubiquitous. Retail development was the most obviously affected by the COVID-19 emergency, initially with shutdowns, but the impact remains with hesitancy from shoppers and a shift to direct-to- consumer purchasing. Retailers have closed locations and delayed or postponed expansion due to market uncertainty. Commercial Office may prove to be the most impacted development section over time. The commercial office market has come to a virtual halt due to the market insecurities caused by the number of employers that continue to have their employees work remotely. New construction has been impacted by the global supply chain issues impacting construction materials, in terms of timing, availability, and cost. And the taxable valuation of the properties in these impacted project areas has been affected, due to the factors discussed previously, but also due to the Income Method of property valuation used by the Salt Lake County Assessor. These factors are all present in these impacted project areas, and that impact has resulted in a direct effect on the Tax Increment generated and collected for each project area. The resolutions extending the collection period by two years will allow the Agency the additional time needed for the impacted project areas to reach their full potential. RESOLUTION 21-22: EXTEND THE PROJECT AREA FUNDS COLLECTION  MINUTES OF RDA SPECIAL MEETING – DECEMBER 14, 2021 -12- PERIOD FOR THE WILLOW WOOD PROJECT AREA DUE TO THE COVID-19 EMERGENCY Wayne Pyle, Executive Director, presented proposed Resolution 21-22 that would extend the Project Area Funds Collection Period for the Willow Wood Project Area due to the COVID-19 Emergency Written documentation previously provided to the City Council included information as follows: In response to the COVID-19 emergency, the State Legislature authorized a two- year extension for impacted project areas. This extension does not change the project area plan or affect the maximum amount of tax increment the agency is authorized to receive. It simply acknowledges the impact caused by the COVID- 19 emergency and extends the collection period by two years, with a resolution by the RDA Board. While each project area has a unique economic structure, and each requires its own resolution, the impact is similar and ubiquitous. Retail development was the most obviously affected by the COVID-19 emergency, initially with shutdowns, but the impact remains with hesitancy from shoppers and a shift to direct-to- consumer purchasing. Retailers have closed locations and delayed or postponed expansion due to market uncertainty. Commercial Office may prove to be the most impacted development section over time. The commercial office market has come to a virtual halt due to the market insecurities caused by the number of employers that continue to have their employees work remotely. New construction has been impacted by the global supply chain issues impacting construction materials, in terms of timing, availability, and cost. And the taxable valuation of the properties in these impacted project areas has been affected, due to the factors discussed previously, but also due to the Income Method of property valuation used by the Salt Lake County Assessor. These factors are all present in these impacted project areas, and that impact has resulted in a direct effect on the Tax Increment generated and collected for each project area. The resolutions extending the collection period by two years will allow the Agency the additional time needed for the impacted project areas to reach their full potential. Upon inquiry by Chairperson Lang there were no further questions from members of the Agency, and she called for a motion. Mr. Buhler moved to approve Resolutions 21-11 through 21-22.  MINUTES OF RDA SPECIAL MEETING – DECEMBER 14, 2021 -13- Mr. Huynh seconded the motion. A roll call vote was taken: Mr. Fitisemanu Yes Mr. Buhler Yes Mr. Huynh Yes Mr. Bigelow Yes Mr. Nordfelt Yes Mr. Christensen Yes Chairperson Lang Yes Unanimous. NEW BUSINESS: ELECT A TEMPORARY CHAIR FOR THE JANUARY 4, 2022 ANNUAL MEETING Mr. Christensen nominated Lars Nordfelt as the temporary Redevelopment Agency Chair for the January 4, 2022 Annual Meeting. Mr. Fitisemanu seconded. A voice vote was taken and all members voted in favor of the motion. MOTION TO ADJOURN Upon motion by Mr. Fitisemanu, all voted in favor to adjourn. THERE BEING NO FURTHER BUSINESS OF THE WEST VALLEY REDEVELOPMENT AGENCY THE SPECIAL MEETING OF TUESDAY, DECEMBER 14, 2021, WAS ADJOURNED AT 7:56 P.M. BY CHAIRPERSON LANG. I hereby certify the foregoing to be a true, accurate and complete record of the proceedings of the Special Meeting of the West Valley City Redevelopment Agency held Tuesday, December 14, 2021. ______________________________ Nichole Camac Secretary