Agenda Item Title:
Title
Redevelopment Agency of Sandy City (RDA) requesting City Council approval of an Interlocal Cooperation Agreement between the RDA and Sandy City related to the purchase of land at 10101 South State Street
Body
Presenter:
Kasey Dunlavy, Economic Development Director
Body
Description/Background:
Please review the attached interlocal cooperation agreement.
Fiscal Impact:
This item was originally presented to the Council / RDA Board during the July 29, 2025 RDA Meeting.
Purchase price of $206,233.07, financed by seller. This includes a $20,000 down payment due September 30, 2025 and the balance plus simple interest at the rate of 2.8% due in equal annual installments over a period of ten years. The RDA will pay the City and the City will subsequently pay the seller per the predetermined schedule.
Further action to be taken:
Once approved by the Council and the RDA Board, the Mayor and Executive Director of the RDA will execute the Interlocal Agreement.
Recommended Action and/or Suggested Motion:
Recommendation
Motion to adopt Resolution 25-41C