Community Reinvestment Agency Meeting - July 16, 2025
STREAMING COPY IN PREPARATION — RECORDING AVAILABLE FROM THE ORIGINAL SOURCE
Community Reinvestment Agency Meeting - July 16, 2025
Note: The agenda listed the meeting date as July 15, 2025; the provided context directs use of July 16, 2025. The Draper City Community Reinvestment Agency (CRA) Board convened to approve previous minutes and adopt the 2025 Annual Report. The report, presented by financial advisor Jason Burningham of LRB Public Finance Advisors, covered the status of seven active project areas, tax increment collections, fund balances, and the need to dissolve certain areas due to new state legislation requiring timely expenditure of remaining funds.
Discussion Items
- Approval of June 17, 2025 Minutes: Unanimously approved, 4-0.
- 2025 Annual Report (Resolution CRA #25-05): Jason Burningham presented a comprehensive review of the CRA's project areas:
- Active project areas collecting tax increment: Three areas—Crescent RDA, Sand Hills, and South Mountain CRA—are currently receiving tax increment. Crescent RDA collected $2 million in the prior fiscal year, with $281 million in current tax value (up from under $1 million base). Sand Hills collected $600,000, with current tax value of $138+ million (21,000% increase). South Mountain collected $1.4 million, but its developer (PluralSite) has not met performance benchmarks (job creation, wages).
- Active project areas no longer collecting increment: Four areas (East Banger, Gateway, Sand Hills post-collection, West Freeway) have fund balances that must be spent within five years from May 15, 2024, per new legislation. East Banger has $2.1 million in fund balance (20% must go to affordable housing). Sand Hills has $1.875 million programmed for road improvements in the 2026 CIP. Gateway fund balances have been fully expended, and dissolution is underway. West Freeway has a small balance to be spent.
- Performance metrics: The report highlighted significant tax value growth for each area, with residential components noted for state audits. A discussion arose about the school district's purchase of a former eBay property in the Crescent RDA, which may reduce future tax increment by an estimated 10% but does not affect existing developer reimbursement agreements (which are percentage-based with no guarantees).
- PluralSite situation: Council members expressed concern about PluralSite’s non-compliance. Assistant Finance Director Jared Zacharias noted that consultant Mr. Dobbins is actively reviewing the project. Council directed staff to schedule a meeting with PluralSite to determine a path forward (revised agreement or dissolution).
Key Outcomes
- Motion to approve June 17, 2025 minutes: Passed unanimously (4-0).
- Motion to adopt Resolution CRA #25-05: Passed unanimously (4-0), adopting the 2025 Annual Report.
- Directive: Staff will engage with PluralSite to resolve performance issues; if necessary, the board will consider dissolving the South Mountain project area or redirecting funds.
- Next steps: Staff will work to expend remaining fund balances in East Banger, Sand Hills, and West Freeway within the statutory five-year window, and proceed with dissolving the Gateway project area via city ordinance.
Meeting Transcript
You uh or need to recess to the Draper City Community Redevelopment Agency meeting. Is there a motion? Mr. Mayor, I move that we enter the Draper City Community Redevelopment Agency meeting. Motion by Mr. Green. Second. Second by Ms. Vaudrey. Mr. Green, how do you vote? Yes. Ms. Vaudre? Yes. Mr. Lowry? Yes. Ms. Johnson? Yes. All right. And I'm approved unanimously. We are convened in the ever exciting community reinvestment agency meeting. Item number one is a call to order, which we're now doing. Item number two is items for council consideration. 2A is a motion for approval of the June 17, 2025 community reinvestment agency meeting minutes. Is there a motion? Mr. Mayor, so moved. Motion by Ms. Vaudry to approve the minutes or second. I'll second. Second by Ms. Johnson. Further discussion? Seeing them, Ms. Vaudri, how do you vote? Yes. Ms. Johnson? Yes. Mr. Lowry? Yes. Mr. Green. Yes. Minutes are approved unanimously 4 to 0. Item 2B is an action item.
openpublica.com