Computing a Dimension from Dimensions

Is there a way in Analysis services Cube processing that a new dimension can be created based on existing dimensions?

Like if I have a UTC Time dimension (Say Dimension 1). 

I want to say, if the UTC time is between A and B time, subtract or add this many minutes (Which is Dimension 2) to the UTC time and Give me a NEW dimension Local Time (Which can be Dimension 3).

Is there a way to do that?

Thanks

-Sarah