Agenda Item Title
Title
Recess of City Council meeting and convene a meeting of the Sandy City Redevelopment Agency
Body
Presenter
Nick Duerksen and/or Brian Kelley
Description/Background:
Resolution RD 16-06 approves an interlocal cooperation agreement with Sandy City, regarding restructuring a loan from the City to the Agency. The Agency and the CIty entered into a previous Interlocal Agreement to which the City loaned funds to the Agency for the Agency's use in acquiring certain real property in or near the Agency's Civic Center North Redevelpopment Project Area. This new agreement restructures the terms of the Agency's obligation to repay the remaining loan balance.
Recommended Action and/or Suggested Motion:
Recommendation
Motion to adopt Resolution RD 16-06. A Resolution of the Redevelopment Agency of Sandy City approving an Interlocal Cooperation Agreement with Sandy City, regarding restructuring a loan from the CIty to the Agency.