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Record of Proceedings

Community Reinvestment Agency Meeting – August 24, 2026

Meeting Portal — Monday, August 24, 2026
BodyDraper, Utah
SessionMeeting Portal
DateMonday, August 24, 2026
StatusFILED
Video Record
0:00 / 24:30

Original source
Transcript — VerbatimClick a timed line to jump · ⧉ to share it
0:07

So moved.

0:08

Motion by Fred Second.

0:09

All second.

0:10

Second by Brett.

0:11

All in favor of moving to Fred, how do you vote?

0:15

Yes.

0:16

Yes.

0:16

Tasha.

0:17

Yes.

0:17

Catherine.

0:18

Yes.

0:18

Mike.

0:21

Yeah.

0:22

All right.

0:22

We are now in the reinvestment.

0:30

Agency meeting.

0:36

Hope I can find the old agenda.

0:51

Yeah.

0:53

All right.

0:54

I'll call to order the reinvestment agency meeting.

0:57

Um item we have some items for board consideration.

1:00

Item two A is a motion to approve the June 2nd, 2026 and June 9, 2026.

1:05

Community reinvestment agency meeting minutes.

1:07

Item 2B is an action on approval of resolution CRA 2604 resolution adopting the 2026 annual report of the community reinvestment agency of Draper City.

1:18

Well, we'll have a report on that one by Jason Burningham.

1:21

If you want to approve 2A before that, is there a motion?

1:26

I make a motion that we approve item 2A, the minutes from June 2nd and June 9th.

1:32

All right.

1:33

So we've got a motion by Brenzer, second.

1:36

Second by Catherine.

1:37

Yeah.

1:38

All right, Brent, how do you vote?

1:39

Yes.

1:39

Catherine.

1:40

Yes.

1:40

Tasha.

1:41

Yes.

1:41

Fred?

1:42

Yes.

1:42

Mike.

1:50

Yes.

1:51

All right.

1:51

Well, minutes are approved.

1:53

Mr.

1:53

Burningham, go ahead, sir.

1:55

Come on up, Jason.

2:01

Good evening.

2:03

Members of the uh community reinvest reinvestment agency board.

2:08

Uh appreciate the opportunity to be here this evening.

2:11

Uh my name is Jason Burningham.

2:13

Uh I'm a principal and owner of LRB Public Finance Advisors.

2:18

And our purpose this evening is to review uh our June 30th annual CRA report, which has we're gonna summarize, but has been uh posted with the governor's office of economic development according to statute.

2:39

Just quickly, our presentation outline is I wanted to give you a quick overview of um the specific report and what elements that we report on and each of the individual project areas as well as uh three historic project areas that um still uh have active uh participation in terms of funding as a quick summary.

3:05

Um I mentioned this uh in an earlier work session.

3:08

There are six active project areas.

3:11

Um those project areas are noted in that table below.

3:15

Um three of which the collection period of receiving tax increment has ended, but they're still fund balances.

3:23

Um whereas there's also three current project areas that continue to receive tax increment.

3:30

Uh this is a breakdown of what was received for tax year 2025, uh received fiscal year 26.

3:38

Um the front runner CDA, that was the portion of revenue that came to the agency.

Discussion Breakdown — Share of Meeting
Economic Development█████████████████████████████████████████████65%
Procedural████████████17%
Affordable Housing███████10%
Traffic Management██████8%
Summary of Proceedings

Community Reinvestment Agency Meeting – August 24, 2026

Note: The agenda lists this meeting as August 18, 2026, but the transcript date provided indicates August 24, 2026. This summary uses the later date as instructed.

The Draper City Community Reinvestment Agency (CRA) held a meeting to approve prior meeting minutes, adopt the 2026 Annual Report presented by Jason Burningham of LRB Public Financial Advisors, and discuss the use of remaining fund balances. The report detailed six active project areas, including three that continue to receive tax increment and three with accumulated fund balances. Board members expressed support for directing unspent funds toward infrastructure improvements, particularly in the East Banger area.

Consent Calendar

  • Approval of Minutes: Motion to approve the June 2, 2026, and June 9, 2026, CRA meeting minutes. Passed unanimously (all in favor).

Discussion Items

  • 2026 Annual Report Presentation: Jason Burningham reviewed the annual report, highlighting key statistics:
    • FrontRunner CDA: Base value $6.0M (2012); current value ~$590M (9,700% increase). FY2026 tax increment received: $3.7M. Remaining life through 2035; total remaining budget ~$35.1M (NPV $27.8M). Over 1,900% increase in tax revenue to other taxing entities since 2012.
    • Crescent RDA: Base value $780K; current value ~$300M (37,000% increase). FY2026 increment: $1.9M. Six years remaining; ~$6M expected. 100% of additional increment (except school district portion) returns to the agency.
    • South Mountain: Base value $7.3M; current value $175M+. FY2026 increment: $1.4M. Expiration 2041; ~$28M forecast.
    • Three historic project areas (West Freeway, East Banger, Sand Hills) no longer generate increment but hold unused fund balances.
  • Board Deliberation on Fund Balances:
    • Councilmember Brandon expressed support for using East Banger funds for infrastructure improvements on Bangeter Highway and 13800 South, including a traffic signal upgrade.
    • Councilmember Catherine (likely) seconded, noting that the East Banger project area’s original goal (building Bangeter) is complete but needs improvements.
    • Councilmember Tasha asked about using South Mountain area funds for a museum or civic center on undeveloped property. Jason Burningham noted that the project area plan would need to be reviewed for eligibility.
    • Board members emphasized the need to program funds soon, especially for East Banger, given shorter time windows.

Key Outcomes

  • Resolution CRA #26-04: Motion to adopt the 2026 Annual Report. Passed 4-1 (Tasha voted no). The report was already posted with the Governor’s Office of Economic Development, confirming compliance.
  • Direction to Staff: Board members requested that staff explore options for programming the remaining fund balances (East Banger, West Freeway, Sand Hills) and return with a plan for allocation, prioritized for infrastructure improvements in the East Banger area.
  • Adjournment: A motion to adjourn the CRA meeting and return to the City Council meeting passed unanimously.

Meeting Transcript

So moved. Motion by Fred Second. All second. Second by Brett. All in favor of moving to Fred, how do you vote? Yes. Yes. Tasha. Yes. Catherine. Yes. Mike. Yeah. All right. We are now in the reinvestment. Agency meeting. Hope I can find the old agenda. Yeah. All right. I'll call to order the reinvestment agency meeting. Um item we have some items for board consideration. Item two A is a motion to approve the June 2nd, 2026 and June 9, 2026. Community reinvestment agency meeting minutes. Item 2B is an action on approval of resolution CRA 2604 resolution adopting the 2026 annual report of the community reinvestment agency of Draper City. Well, we'll have a report on that one by Jason Burningham. If you want to approve 2A before that, is there a motion? I make a motion that we approve item 2A, the minutes from June 2nd and June 9th. All right. So we've got a motion by Brenzer, second. Second by Catherine. Yeah. All right, Brent, how do you vote? Yes. Catherine. Yes. Tasha. Yes. Fred? Yes. Mike. Yes. All right. Well, minutes are approved. Mr. Burningham, go ahead, sir. Come on up, Jason. Good evening. Members of the uh community reinvest reinvestment agency board. Uh appreciate the opportunity to be here this evening. Uh my name is Jason Burningham.

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