REDEVELOPMENT AGENCY OF SALT LAKE CITY

Transcription

1 JACKIE BISKUPSKI CHIEF ADMINISTRATIVE OFFICER REDEVELOPMENT AGENCY OF SALT LAKE CITY JUSTIN BELLIVEAU INTERIM EXECUTIVE DIRECTOR REDEVELOPMENT AGENCY STAFF MEMO DATE: May 10, 2016 ITEM #: 7.D.2 PREPARED BY: Kort Utley RE: Consideration of a motion to approve the updated Granary District Strategic Plan. REQUESTED ACTION: Pass a motion approving the updated Granary District Strategic Plan. POLICY ITEM: Granary District Strategic Plan BUDGET IMPACTS: The Strategic Plans are the first policy step in setting the RDA's annual budget. EXECUTIVE SUMMARY: RDA staff is presenting the Project Area Strategic Plan for the Granary District for review and approval as part of the budget process. The Board approved the Strategic Plans for the Depot District, North Temple, West Capitol Hill, Sugar House, Central Business District, and West Temple Gateway Project Areas at the March and April Board meetings. The Board requested additional information on the Fleet Block redevelopment before approving the Granary District Strategic Plan. The Strategic Plans provide policy direction and guide resource allocations within RDA project areas for the next 3-5 years. Staff recommends three updates to the Granary District Strategic Plan: adding an Objective regarding business growth and neighborhood services, clarifying language on the Implementation Program section as it applies to economic development efforts, and adding a Priority Project to address public infrastructure needs in the project area. These recommended updates are redlined in the attached Project Area Strategic Plan. Next steps in the budget process include presentation of the recommended Funding Allocation Budget in May, with consideration and approval of the budget in June. REDEVELOPMENT ADVISORY COMMITTEE RECOMMENDATIONS: The Redevelopment Advisory Committee (RAC) unanimously recommended approval of the Granary District Strategic Plan. ANALYSIS & ISSUES: The RDA Strategic Plans create a clear actionable document that is based on the RDA s mission, general goals, project area plans, previous policy decisions, and Salt Lake City master plans. The Strategic Plans were adopted by the Board in 2015 as part of modifications to the overall budget process. The revised budget process realigned the RDA from single-year strategies and allocation plans to a longer term strategy of 3-5 years. The long-term 451 South State Street, Room 418 // Salt Lake City, UT // //

2 view matches well with the RDA s time commitment to larger projects that take several years or more to fund and complete. The RDA s Strategic Plans link its goals and objectives with budget priorities through the Implementation Schedule that will be prepared each spring as part of the budget process. This connection between goals and budget facilitate the strategic allocation of resources over time. While it is the intent of the Strategic Plans to create stability and facilitate the completion of longterm complex projects, the strategies may be reviewed and modified at the discretion of the RDA Board. The Board discussed the Granary District Strategic Plan at the April, 2016 meeting but requested additional information about the Fleet Block redevelopment from the Housing and Neighborhood Development Division before approving the Granary District Strategic Plan. A briefing on the status of this project will take place prior to this item at the May meeting. PREVIOUS BOARD ACTION: August 2014 The RDA Board reviewed and approved the Strategic Plans for the West Capitol Hill and Sugar House Project Areas. October 2014 The RDA Board reviewed the First Draft of the Strategic Plans for the West Temple, Granary District, North Temple, and Central Business District Project Areas December 2014 The RDA Board reviewed the First Draft of the Strategic Plan for the Central Business District. February 2015 The RDA Board reviewed the Second Draft of the Strategic Plans for the West Temple Gateway, Granary District, Central Business District, Depot District, and North Temple Project Areas. March 2015 The RDA Board reviewed the Third Draft of the Strategic Plans for the West Temple Gateway, Granary District, Central Business District, Depot District, and North Temple Project Areas. The Third Draft included recommendations from the Administration and the Public. April 2015 The RDA Board reviewed the Fourth Draft of the Strategic Plans for the West Temple Gateway, Granary District, Central Business District, Depot District, and North Temple Project Areas. As part of the review, the RDA Board requested that Public Open Space Creation be added to the Central Business District, West Temple Gateway, and Granary District Strategic Plan. May Board approves Project Area Strategic Plans. March 2016 The RDA Board approved the Strategic Plans for the Depot District, North Temple, West Capitol Hill and Sugar House Project Areas. April 2016 The RDA Board approved the Strategic Plans for the Central Business District and West Temple Gateway Project Areas. ATTACHMENTS: A. Updated Granary District Strategic Plan

3 Section I - Objectives Granary District Project Area Strategic Plan (Project Area Expires 2023) 1. The Granary District shall feature active, mixed-use, and multimodal corridors that emphasize transit, creative uses of the public right-of-way, and a high-quality pedestrian environment. 2. The development of the Granary District shall combine the adaptive reuse of contributing structures with new infill development in a manner that supports commercial, residential, and light industrial uses. 3. The RDA shall support the City s Housing Initiative by contributing to a high-quality, diverse, and income-balanced housing stock of moderate to high density. 4. The RDA shall support the incorporation of public art in public and private development projects. 5. Support the construction of real estate and infrastructure projects that model innovative sustainability practices and limit carbon emissions. 6. Support changes to the zoning code that contribute to the implementation of approved Salt Lake City plans Encourage the development and growth of businesses, technology, light manufacturing, research, and neighborhood services.

4 Section II Obligations 1. Project Area Budget: Tax Increment to Taxing Entities 25% 2. Project Area Budget: Aggregate Use Restrictions a. Housing 20% b. Redevelopment 65-75% c. Administration 5-15% 3. Artspace Tax Increment Reimbursement - $450,000 ($317,893) a. Principal: $450,000 b. Paid: $132,108 c. Remaining: $317,892 Section III Non-Obligated Funds (Projections): FY 2015/2016: $ 117,869 FY 2016/2017: $ 120,917 FY 2017/2018: $ 123,993 FY 2018/2019: $ 162,095 FY 2019/2020: $ 195,223 Section IV Implementation Program Prioritization: 1. Adaptive Reuse Grant Programs ( ) Grant programs shall incentivize the adaptive reuse of existing buildings. 2. Housing Programs ( ) Loans, tax increment reimbursement programs, and housing funds should encourage high-density, well-designed housing development that serves populations that have mixed incomes, varying household sizes, and are multi-generational. 2

5 3. Economic Development ( ) Loan programs and tax increment reimbursement programs shall be used to support the creation, retention, or recruitment of innovative businesses that provide high-quality jobs that are complementary to our local economy. Section V Implementation Project Prioritization: 1. Street Reconstruction ( ) In cooperation with the Administration, staff will implement the reconstruction of corridors identified in approved Salt Lake City plans. The project will create multi-modal corridors that emphasize transit and a highquality pedestrian environment, as well as the creative use of public rights-of-way. Potential uses of the public rights-of-way that will be explored include streetcar and light rail alignments, significant pedestrian and bike facilities, permanent commercial development, food truck sites, and temporary markets. Staff will work the Administration to identify funding sources for the project, as well as design and construct the improvements. 2. Fleet Block Redevelopment ( ) Staff will work collaborate with the Administration to assist in the development of the Fleet Block. 3. Gale Street Redevelopment ( ) 901 South Gale Street shall be developed in a fashion that contributes to the project area s objectives. Staff will market the property, select a developer, negotiate development terms, and oversee construction. 4. Downtown Streetcar ( ) The RDA and Transportation Division are currently conducting an alternatives analysis for the construction of a Downtown Streetcar Line. Initial objectives include having the streetcar serve the Granary District and West Temple Gateway Project Areas as a catalyst for redevelopment. To complete this project, staff will work with the Transportation 3

6 Division to complete the planning and design for the project and potentially contribute resources to the construction of the streetcar line. 5. Public Open Space Creation ( ) The RDA will coordinate with the Salt Lake City Administration on the use of impact fees and other resources in creating public open space opportunities in the project area. 6. Public Infrastructure ( ) The RDA will identify and address infrastructure needs that impede redevelopment. 4

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