Agenda Item Title:
Title
Recess of City Council and convene a meeting of the Sandy City Redevelopment Agency
Body
Presenter:
Kasey Dunlavy, Interim Director
Body
Description/Background:
Attached Memo which provides a background summary of the State Infrastructure Bank Loan, Inter-local Cooperation Agreement between Sandy City and the Sandy City Redevelopment Agency, and the SIB Loan Agreement between Raddon Development and the RDA.
Recommended Action and/or Suggested Motion:
Recommendation
1. Motion to Recess the City Council meeting and to convene a meeting of the Sandy City Redevelopment Agency.
2. Motion to approve Resolution RD 22-01, a Resolution of the Redevelopment Agency of Sandy City approving an SIB Loan Agreement, and associated Security Instrument, with Raddon Summit, LLC, to help fund a parking structure and related transportation improvements for the Summit Project in the Civic Center North Redevelopment Project Area.
3. Motion to adopt minutes.
4. Motion to adjourn the Redevelopment Agency Meeting and Reconvene the City Council meeting.