The Community Reinvestment Agency (CRA) of Magna serves as a primary economic development tool for the municipality, possessing broader authority than the city itself regarding property transactions. According to meeting minutes from January 27, 2026, redevelopment agencies like the CRA have the flexibility to sell or contribute property below market value, whereas municipalities disposing of surplus property are generally required to maximize value and obtain fair market compensation through processes such as auctions or listings.
During a meeting held at the Webster Center, the CRA board discussed the potential establishment of a tax financing project area known as the Broadway Community Reinvestment Project Area. Dan Torres, a staff member, explained that the board considered this district to provide the CRA board with greater flexibility to later dispose of property, specifically regarding a church property located on Broadway Street. As part of this discussion, staff referenced a map containing a parcel owned by Salt Lake County. This specific parcel is reportedly an unused stormwater detention pond that has never been incorporated into the county’s system. According to the meeting minutes, the city has reached out to Salt Lake County to determine if the county would transfer ownership of that parcel to either Magna City or the CRA board.
The legal structure of the CRA is unique under state statute. While the agency holds its own meetings, Adam Long, serving as the redevelopment agency attorney, explained that the City Council itself serves as the CRA governing board. This means that council members effectively act in dual roles, switching from their council responsibilities to their CRA board responsibilities during such meetings. The process for designating a new project area involves a public hearing with notices posted online and mailed to property owners within the proposed area, as well as to taxing entities and other agencies. Following a public hearing, the CRA board may consider a resolution to establish the project area, while the City Council separately considers an ordinance to complete the creation process.
As of the meeting held on January 27, 2026, the board members present included Terry George, Michael Jensen, Audrey Pierce, Mick Sudbury, Steve Propokis, and Megan Olsen. During the session, the board voted 5-0, unanimously in favor, to approve the December 9, 2025, Magna CRA meeting minutes. The agency's authority is specifically tied to these designated project areas, as the agency's ability to hold property, dispose of property, encourage development, and enter agreements is generally limited to areas formally designated as such. This designation allows the agency to function as a statutory compliance document that outlines general expectations for the area's development.
What this means for Magna
For Magna residents, the CRA provides a mechanism for local economic growth and property redevelopment. Because the City Council also governs the CRA, local leaders have the authority to manage property transactions and designate specific zones for development, which may include coordinating with Salt Lake County over unused land to better serve the community's needs.
