Redevelopment Agency Information

We foster a set of core values that collectively support the revitalization of Salt Lake City's communities: ECONOMIC GROWTH // We act as a responsible steward of public funds, taking a long-term view of investment, return, and property values. COMMUNITY IMPACT // We prioritize projects and programs that demonstrate commitment to improving equity and quality of life for residents and businesses in Salt Lake City. NEIGHBORHOOD VIBRANCY // We cultivate distinct and livable built environments that are contextually sensitive, resilient, connected, and sustainable. WHAT IS A REDEVELOPMENT AGENCY? A redevelopment agency, often called an "RDA," is an entity used by local government to implement the development goals of communities, with the added benefit of increasing the area's/city's tax base. RDAs assist communities in addressing three types of development issues: Redevelopment-Encourage private and public investment in areas that are experiencing disinvestment or neglect. Housing Development-Increase the amount and variety of housing that meets the unique needs of neighborhoods. Economic Development-Assist in development that yields additional job opportunities in the community. WHY ARE RDAS USED? Traditionally, RDAs have been established by cities as urban areas grow older and begin to experience deterioration. These conditions result in a decrease in the assessed property value, leading to reduced property tax collections for cities and all other taxing entities, such as school districts, counties, libraries, and public utilities. This decrease in tax base drives further disinvestment that, in turn, promotes a cycle of degeneration. RDAs intervene to break this cycle by: Facilitating redevelopment of underutilized property through acquisition, clearance, re-planning, and/or sale; Investing in core infrastructure, such as utilities, streets, lighting, and/or curbs/sidewalks; and Providing gap financing in the form of loans, reimbursements, and property discounts to encourage private investment. The RDA invests ...