TREMONTON CITY CORPORATION
REDEVELOPMENT AGENCY
MAY 5, 2020

Board Members Present:
Roger Fridal, Chairman
Connie Archibald, Board Member
Lyle Holmgren, Board Member
Bret Rohde, Board Member
Rick Seamons, Board Member
Lyle Vance, Board Member
Shawn Warnke, Executive Director
Linsey Nessen, Executive Secretary

Chairman Fridal called the Tremonton Redevelopment Agency Meeting to order at 8:08 p.m. The meeting was held in the City Council Meeting Room at 102 South Tremont Street, Tremonton, Utah. Those in attendance were Chairman Fridal, Board Members Archibald, Holmgren, Rohde, Seamons, and Vance, Executive Director Warnke, and Executive Secretary Nessen.

1. Approval of agenda:

Motion by Board Member Vance to approve the May 5, 2020 agenda. Motion seconded by Board Member Holmgren. Vote: Board Member Archibald – aye, Board Member Holmgren – aye, Board Member Rohde – aye, Board Member Seamons – aye, Board Member Vance – aye. Motion approved.

2. Approval of minutes – February 4, 2020

Motion by Board Member Archibald to approve the minutes of February 4, 2020. Motion seconded by Board Member Vance. Vote: Board Member Archibald – aye, Board Member Holmgren – aye, Board Member Rohde – aye, Board Member Seamons – aye, Board Member Vance – aye. Motion approved.

Chairman Fridal called a Public Hearing to order at 8:10 p.m. to consider the tentative budget. There were seven people in attendance.

3. Public Hearing

a. On consideration of adopting the Tentative Budget entitled “The Redevelopment Agency of Tremonton City Tentative Implementation Budget 2020-2021 for Fund 71 RDA District #2 – Downtown and Tremonton West Liberty Foods EDA 172 for the period commencing July 1, 2020 and ending June 30, 2021

There were no public comments. Chairman Fridal closed the Public Hearing at 8:10 p.m.

4. New Business

a. Discussion and consideration of adopting Resolution No. RDA 20-04 adopting the Tentative Budget entitled “The Redevelopment Agency of Tremonton City Tentative Implementation Budget 2020-2021 for Fund 71 RDA District #2 – Downtown and Tremonton West Liberty Foods EDA 172 for the period commencing July 1, 2020 and ending June 30, 2021

Motion by Board Member Vance to adopt the resolution. Motion seconded by Board Member Archibald. Roll Call Vote: Board Member Archibald – aye, Board Member Holmgren – aye, Board Member Rohde – aye, Board Member Seamons – aye, Board Member Vance – aye. Motion approved.

b. Discussion and consideration of adopting Resolution No. RDA 20-05 approving the Tremonton City Agency Report, for the Tremont Center Community Development Project Area for 2019 Tax Increment Year

Manager Warnke said this is essentially the Tremont Center CDA, which includes the Tremont Center and Main Street. In order to have the project approved by all the taxing entities, we created a project budget and anticipated what those revenues would be and when we would receive those. Nothing is known so it was our best estimate at that time. We worked with the developer to come up with what we thought some of the taxable value of those investments would be and the orange line is what we projected. The blue is the actuals. Year-to-date we are about half of where we should be. The orange line is close to $300,000 and we are at $150,000. We do have a lot of work to do in order to get back on track for that scenario, but there are reasons to be optimistic. In the next year or two there is quite a bit of development that could occur. The Mathison Apartments will add significant value, but residential buildings are taxed at a lesser rate (55%). Board Member Vance said that is a $30 million project, which will boost that quite a bit. Manager Warnke said it is encouraging because there is some activity going on. Crump Reese is in the process and we have another housing project within that area—Liberty Townhomes. All of these investments help and are appreciated. Since the project area has started, we have more than doubled the base year value (about a $20 million taxable value).

Motion by Board Member Holmgren to adopt the resolution. Motion seconded by Board Members Rohde and Vance. Roll Call Vote: Board Member Archibald – aye, Board Member Holmgren – aye, Board Member Rohde – aye, Board Member Seamons – aye, Board Member Vance – aye. Motion approved.

c. Discussion and consideration of adopting Resolution No. RDA 20-06 authorizing the Agency chairperson to sign quitclaim deeds for properties of 560 West Main Street (Parcel No. 05-168-0086), 548 West Main Street (Parcel No. 05-168-0087), AND 540 West Main Street (Parcel No. 05-168-0094) assigning interest in these properties to the Tremont Center, L.L.C.

Manager Warnke said if adopted this complies with the terms within an agreement the RDA has already approved. We caused the property to be cleared of the homes with the developers help and now it is being deeded back to the developer with a notice of interest being filed. That relates to the developer’s obligation to construct a secondary access, which is part of the reason the City participated in the acquisition and demolishing of those homes. If they do not perform within a certain period of time, which is essentially six years and then there is a year default, they would give the property back to the City. We are in line to receive tax increment at the back end.

Motion by Board Member Vance to adopt the resolution. Motion seconded by Board Member Archibald. Roll Call Vote: Board Member Archibald – aye, Board Member Holmgren – aye, Board Member Rohde – aye, Board Member Seamons – aye, Board Member Vance – aye. Motion approved.

5. CLOSED SESSIONS: No closed session held at this time.

a. Strategy session to discuss the purchase of real property when public discussion of the transaction would disclose the appraisal or estimated value of the property under consideration or prevent the public body from completing the transaction on the best possible terms.

6. Adjournment

Motion by Board Member Holmgren to adjourn the meeting. Motion seconded by Board Member Rohde. Vote: Board Member Archibald – aye, Board Member Holmgren – aye, Board Member Rohde – aye, Board Member Seamons – aye, Board Member Vance – aye. Motion approved.

The meeting adjourned at 8:19 p.m.

The undersigned duly acting and appointed Executive Secretary for Tremonton City Corporation Redevelopment Agency hereby certifies that the foregoing is a true and correct copy of the minutes for the RDA Meeting held on the above referenced date. Minutes were prepared by Jessica Tanner.

Dated this 19th day of May, 2020.

____________________________
Linsey Nessen, Executive Secretary