Agenda Item Title
Title
Redevelopment Agency Annual Report
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Presenter
Presenter
Nick Duerksen/Jason Burningham
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Description/Background:
Lewis Young Robertson & Burningham, Inc (“LYRB”) has been retained by the Redevelopment Agency of Sandy City (the “Agency”) to assist with the management of the Agency’s eight project areas (City Center, Civic Center North, Civic Center South, South Towne Ridge, Union Heights, 9400 South, 11400 South, and Sandy TOD). LYRB has compiled the various creation and related documents associated with the project areas, generated annual and multi-year budgets, and created a proprietary Excel-based software package to manage the Agency’s project areas in the future.
The purpose of this report, in part, is to fulfill the requirements of Utah Code section 17C-1-402(9)(b) and 17C-1-603 - Agency Report. As new reporting requirements were adopted in legislation and became effective in 2011, this report facilitates the RDA’s compliance with the new code, providing the data necessary to fulfill the Agency Report requirements. This section of Utah Code mandates that the Agency provide an annual report to the county auditor, the State Tax Commission, the State Board of Education, as well as each of the taxing entities that levy a tax on property from which the Agency collects tax increment.