Community Reinvestment Agency (CRA) Meeting
Agenda Items (10)
Approval of Minutes ~ 2:05 p.m. 5 min. The Board will approve the meeting minutes of August 12, 2025, September 9, 2025, October 14, 2025, and November 18, 2025.
Straw Poll: Installation of Lampposts on Main Street in the Central Business District ~ 2:10 p.m. 30 min. The Board will receive a briefing and consider a straw poll that would allocate $400,000 of fiscal year 2025 CBD-Strategic Intervention Funds to support the installation of permanent pedestrian-level lampposts and festive lighting infrastructure along Main Street between South Temple and 400 South. The project is being proposed in anticipation of the April 2027 reopening of the Salt Lake Temple following its multi-year seismic renovation and restoration.
Resolution: Housing Development Loan Program (HDLP) Allocations for Fiscal Year 2025-26 Funds ~ 2:40 p.m. 30 min. The Board will receive a briefing and consider adopting a resolution that would approve up to $8.1 million in Fiscal Year 2025-26 affordable housing allocations from HDLP funds. The proposed projects were selected through a competitive Notice of Funding Availability (NOFA) issued in 2025. The HDLP funds are available to projects located anywhere within Salt Lake City municipal boundaries.
Informational: Housing Development Funding Strategy Fiscal Year 2026-27 ~ 3:10 p.m. 20 min. The Board will receive an introductory briefing about the proposed Housing Development Funding Strategy for Fiscal Year 2026-27. As part of the CRA's annual budget process, the Housing Development Funding Strategy begins with a discussion of proposed housing funding priorities for the upcoming fiscal year. In a future briefing, the discussion will focus on the projected amount of revenue to be allocated to each Housing Fund for the upcoming fiscal year and the proposed funding allocations for specific housing activities.
Resolution: NWQ, LLC Tax Increment Reimbursement Request ~ 3:30 p.m. 30 min. The Board will receive a briefing and consider adopting a resolution authorizing a property tax increment reimbursement of up to $1,544,202 to NWQ, LLC for Phase IV of its development for improvements in the Northwest Quadrant Community Reinvestment Area. If approved, the developer will receive a percentage of the tax increment generated from Phase IV of its development for a specified timeframe, and the CRA will receive the residual tax increment for other project area development activities, CRA Administration, and affordable housing. The developer may receive a reimbursement only after the improvements are made and the property generates sufficient tax increment, with reimbursements subject to verification of the actual costs incurred by the developer.
Resolution: USA Climbing at Rio Grande District – Salt Lake Mattress Company Building Follow-Up ~ 4:00 p.m. 20 min. The Board will receive a follow-up briefing and consider adopting a resolution approving modifications to the term sheet for the USA Climbing project, which includes the Salt Lake Mattress Company building. While the Board previously approved terms for the disposition of CRA-owned property for USA Climbing’s headquarters and national training center, further evaluation found the Mattress Company building would require additional structural reinforcement, increasing project costs to $7.3 million. USA Climbing cannot absorb costs beyond the $6 million provided by the CRA. As an alternative, USA Climbing proposed reconstructing the building using concrete masonry block clad with the historic brick, which would require an additional $250,000. The Board will discuss the adaptive reuse and reconstruction options.
Report and Announcements from the Executive Director TENTATIVE 5 min. Report of the Executive Director, including a review of information items, announcements, and scheduling items. The Board of Directors may give feedback or policy input.
Report of the Chair and Vice Chair TENTATIVE 5 min. Report of the Chair and Vice Chair.
Report and Announcements from CRA Staff TENTATIVE 5 min. The Board may review Board information and announcements. The Board may give feedback on any item related to City business, including but not limited to: Project Updates, and Scheduling Items.
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