Local Politics
  1. Home
  2. US
  3. Utah
  4. Salt Lake City
  5. Meetings

2026-07-14 - Community Reinvestment Agency

Summary

Built from the official minutes of the Community Reinvestment Agency (CRA) Board of Directors (approved October 13, 2026). The minutes are not a full transcript.

  • Called to order at 2:06 p.m. and adjourned at 3:00 p.m.; Dugan presided. All seven directors present: Petro, Wharton, Puy, Napier-Pearce, Carlsen, Dugan and Young. Mayor Mendenhall and Danny Walz (director) were present for the Agency.
  • No public comments, and no public hearing items.
  • Approved minutes of March 10, April 14, April 21 and May 12, 2026 (Wharton/Petro; 7-0).
  • Adopted Resolution 13 of 2026 approving the term sheet for the Silo Park Development Tax Increment Reimbursement with Silos South BCG LPG Partners LLC and BCG TBD Manager LLC (Wharton/Carlsen). Vote 6-1: Puy voted no.
  • Adopted Resolution 14 of 2026 approving a 2,000,000 dollar loan to Chenzo, LLC from the Disaster Relief Loan Program for the fire-damaged building at about 319-321 South Main Street (Wharton/Carlsen; 7-0). See Chenzo Disaster Relief Loan.
  • Briefing on the Community Reinvestment Agency Budget Amendment (Amendment No. 1 for Fiscal Year 2026-27, moving 6.5 million dollars to mayoral initiatives): a straw poll showed all directors present in favor; the hearing date was set for August 18 on the consent agenda.
  • Staff report: eight applications (just under 10 million dollars) came in for the Commercial Development Loan Program Allocations; recommendations expected in September 2026. Japantown mural update. Senior Project Manager Ashley Ogden to leave the CRA in August after seven years with the agency and ten with the City.
  • Consent Agenda approved 7-0 (Wharton/Napier-Pearce): set the August 18, 2026 at 2 p.m. public hearing date on the budget amendment.
  • Closed meeting item was not held.

Silo Park Development Tax Increment Reimbursement

Kate Werrett introduced the follow-up item. Kristina Harrold and Walz presented the proposed reimbursement agreement for phases I-V of the Silo Park Development at about 455 West 500 South in the Salt Lake Central Housing and Transit Reinvestment Zone, including changes made after the Board's earlier discussion. The development includes affordable and market-rate housing, commercial space, open space and preservation of six grain silos. Directors, Brandon Blaser (President, Blaser Ventures) and staff discussed the reasons for no deed restrictions on workforce housing units (leasing flexibility; smaller units with lower rents), deed-restricted affordable units at 60 percent of area median income and below (more than CRA policy required), language that neither the CRA nor the City is obligated for Public Improvement District pledges or bonds, a 10 percent cut to the reimbursement cap because the project did not fully meet the CRA sustainable development policy, the public benefits supporting a 90 percent reimbursement rate, an annual compliance review, energy offset participation prioritizing the Community Clean Energy Program, accountability on communication about demolition of preserved structures, and assurances that construction would not harm the historic silos and that no more waiver requests were expected. Puy asked staff to develop clearer contract language and procedures for project changes and waiver requests to prevent abuse and political pressure from developers. Resolution 13 passed 6-1 (aye: Petro, Wharton, Napier-Pearce, Carlsen, Dugan, Young; nay: Puy).

Disaster Relief Loan: Chenzo, LLC

Taylee Foulger presented the request for a 2,000,000 dollar loan to rebuild after the August 11, 2025 fire, which took the roof and gutted the interior of the building where Los Tapatios and London Belle had operated. Directors, Foulger, Walz and Nick Tarbet discussed program eligibility, the property's eligibility for two 1,000,000 dollar loans (two storefronts) which staff recommended combining into one, the remaining program funds and the August 11, 2026 application deadline, that the request covered only fire-recovery financing and not design approval (which follows the standard City process), and support for reactivating Main Street. Resolution 14 passed 7-0. See Chenzo Disaster Relief Loan and the related Main Street Fire Disaster Relief Loan.

CRA Budget Amendment No. 1, Fiscal Year 2026-27

Werrett introduced it. Walz said the items had been presented during the budget process but were left out of the key changes document by mistake; the amendment allocates 6.5 million dollars from several program appropriations to mayoral initiatives including Main Street revitalization, Civic Center improvements and 500 West improvements. Financial Analyst Miranda Johnson asked for a straw poll so staff could begin preparatory work, including a request for proposals for the Civic Center block. Directors noted the items were already reviewed in the budget process. Straw poll: all directors present in favor of allocating funds to Amendment No. 1 as outlined in Exhibit A. See Community Reinvestment Agency Budget Amendment.

Staff reports

Walz reported that the Commercial Development Loan Program application window had closed with eight applications totaling just under 10 million dollars in the central business district, 9-Line and State Street project areas, covering a range of project types; recommendations are expected in September 2026 (see Commercial Development Loan Program Allocations). He also updated the Board on the Japantown mural (artist selection, participation at the Obon Festival, location, size and installation timeline) and on public art funding replenished in the latest budget, and announced Ogden's departure. Puy asked for an update on the master-leasing-type business space program discussed on a prior CRA trip; Walz said staff was still developing it and would bring it to the Board. There was no Executive Director report or Chair report.

Sources