Each year, the RDA
Board of Directors reviews and revises
the General RDA Goals. Projects for each project area are then
determined and funded based on these goals. The Board has
determined Priority Projects for each project area that will
help achieve the RDA goals for revitalization and placemaking in
these neighborhoods. Once the General Goals and Priority
Projects have been approved by the Board of Directors, the
annual budget process (below) can begin for the upcoming fiscal
Every year, the RDA
undertakes a budget process that requires recommendations from
its Redevelopment Advisory
Committee (RAC) and the
Administrative Officer (Mayor), and approval by its
Board of Directors. Per
State statute, the RDA must request tax increment funds from
Salt Lake County for the upcoming budget year by November 1st of
the previous budget year.
The RDA makes its
funding application available to City departments and the public
in January. All requests for RDA funding are submitted to RAC
for review prior to its budget ranking meeting in April. All
funding applicants are interviewed by RAC and Board members
prior to the ranking process. Once RAC and Mayor have ranked the
funding applications, the Board reviews the recommendations, and
makes the final decision regarding the allocation of funds for
the coming fiscal year. This forms the basis for the RDA budget,
which must be adopted in June.
Understanding the Budget
"Certain funds" refers to tax increment that the RDA is
likely to receive in the following budget year.
"Uncertain funds" refers to tax increment that the RDA
may or may not receive in the following budget year. For
this reason projects are ranked in order of priority.
Projects receiving an allocation from "uncertain funds" will
not be started until the RDA receives its final distribution
from the Salt Lake County, usually at the end of March. This
enables the RDA to establish a budget allocation for the
uncertain funds, but to easily drop or scale back a project
if the uncertain funds do not materialize.
Budget amendments occur each April after the County
distributes to the RDA its final portion of tax increment
for the previous tax year (current fiscal year). When the
funds are actually received by the RDA, "uncertain funds"
are no longer uncertain and the previously approved budget
is adjusted to reflect actual amounts received.
Expenditures are made according to the prioritized rankings
adopted by the Board of Directors the previous June.
Recent Annual Budgets (PDFs)
2013-2014 RDA Annual
Annual Budget Narrative
2011-2012 RDA Annual Budget Narrative
RDA Annual Budget
2010-2011 RDA Annual Budget Narrative
2009-2010 RDA Annual Budget
2009-2010 RDA Annual Budget Narrative
In January or February of each year, the RDA makes its funding application available to
City departments and the general public. All complete applications
received by the deadline will be included in the ranking process
undertaken by the RDA Board, the Mayor, and the Redevelopment
Advisory Committee (RAC) during the annual budget process. The
budget will be finalized by June 30 of the preceding fiscal
year. (Example: Applications turned in March will be
reviewed April-June. If approved, funds would begin to be
available in July.)
***RDA FUNDING APPLICATION
Steps for applying for RDA Funding:
Identify which RDA Project Area your project is located in.
Visit the maps page
upcoming fiscal year's goals and identify
which General Goals and Priority Projects your project fulfills or supports.
Contact RDA staff
at any time for assistance with this process or to
understand what funds may be available in a Project Area.
Click on the link below and enter your information. You can
download and save the file immediately or use the link in
the email you recieve to download the form.
Download and read through the funding application (above) and fill out
Email or deliver
the application (on CD) to RDA Offices by the deadline.