Private Activity Bond Authority Program (PAB) Board Meeting - July 9, 2025
Notice Tags
Department of Workforce Services, PAB
Notice Type(s)
Meeting
Event Start Date & Time
July 9, 2025 09:00 AM
Event End Date & Time
July 9, 2025 12:00 PM
Description/Agenda
PRIVATE ACTIVITY BOND PROGRAM
NOTICE OF PUBLIC MEETING
July 9, 2025, at 9:00 a.m.
Olene S. Walker Building
140 East 300 South, Room 211
Salt Lake City, Utah 84111
This meeting will be streamed at: https://utah-gov.zoom.us/j/89424478439
John T. Crandall, Chairman of the Board
AGENDA
I. Welcome and Introductions
Tricia: HCD Staffing update
II. Public Comment
III. Action Item: Approval of Minutes
A. April 9, 2025 Minutes
IV. Status Updates
A. Status of Accounts
B. Project Closing/Groundbreaking/Ribbon Cutting Updates, if applicable
C. Relinquished Cap Updates, if applicable
V. Action Item: Future Rebalance of Bond Allocation Accounts
VI. Action Item: Volume Cap Extension Requests
A. Single Family Housing
1. Utah Housing Corporation Second Extension
Single Family Allotment for 2025 - $191,297,269.80
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B. Multifamily Housing Projects Extension Number/Project Location
1. Brooklyn Yard First Extension
171 Units - 100% Affordable
New Construction 269 Brooklyn Avenue
Developer - Brinshore Development SLC, UT 84101
Original Allocation: $29,210,000 [April 2025]
2. Daybreak Phase I Second Extension
203 Units - 100% Affordable
New Construction 10821 S Grandville Ave
Developer - Wasatch Residential Group South Jordan, UT 84009
Original Allocation: $35,500,000 [January 2025]
3. Daybreak Phase II Second Extension
184 Units - 100% Affordable
New Construction 10851 S Grandville Ave
Developer - Wasatch Residential Group South Jordan, UT 84009
Original Allocation: $33,000,000 [January 2025]
4. SSL Apartments Second Extension
255 Units - 100% Affordable
New Construction 55 East Haven Ave
Developer - BCF ARC Fund South Salt Lake, UT 84115
Original Allocation: $50,000,000 [January 2025]
5. The Cooperative 1581 Apartments Second Extension
144 Units - 100% Affordable
New Construction 1581 Millcreek Drive
Developer - 22 Communities & Garn Development Moab, UT 84532
Original Allocation: $21,620,000 [January 2025]
6. The Cooperative 1881 Apartments Second Extension
198 Units - 100% Affordable
New Construction 1881 W North Temple
Developer - 22 Communities & Garn Development SLC, UT 84116
Original Allocation: $28,285,000 [January 2025]
7. Ventana Apartments Third Extension
120 Units - 100% Affordable
New Construction 970 E Kaneplex Drive
Developer - Acumen Development Kanab, UT 84741
Original Allocation: $11,800,000 [October 2024]
Additional Allocation Request: $1,500,000 [July 2025]
8. Liberty Corner Fifth Extension
200 Units - 100% Affordable
New Construction 1265 S 300 W
Developer - Cowboy Partners SLC, UT 84101
Original Allocation - $60,700,000 [April 2024]
Additional Allocation - $5,000,000 [July 2024]
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VII. Action Item: New Volume Cap Requests Amount Requested/Project Location
A. Multifamily Housing Projects
1. Hive on 11th $27,155,000
169 Units - 100% Affordable
New Construction 1116 South Richards Street
Developer - Lincoln Avenue Communities Salt Lake City, UT 84101
Score: 580
2. Flats at Folsom $30,848,000
188 Units - 100% Affordable
New Construction 16 South 800 West
Developer - Lincoln Ave Communities Salt Lake City, UT 84104
Score: 562
3. 1300 South Apartments $19,100,000
96 Units - 100% Affordable
New Construction 400 W 1215-1225 South;
Developer - Hermes Affordable Svcs 390 W 1300 South
Score: 557 Salt Lake City, UT 84101
4. The Jefferson Apartments $22,300,000
182 Units - 100% Affordable
New Construction 1376-1390 S Jefferson Street
Developer - Great Lakes Capital Salt Lake City, UT 84115
Score: 547
5. Senior Living at Millcreek $18,182,933
116 Units - 100% Affordable
New Construction 151 12th Street
Developer - SLAM Development Ogden, UT 84404
Score: 527
6. Alta North $44,000,000
292 Units - 100% Affordable
New Construction 1865 West North Temple
Developer - Alta Bay Capital Salt Lake City, UT 84116
Score: 527
7. Whitney Apartments $48,340,000
264 Units - 100% Affordable
New Construction (97% complete) 1481 South 400 West
Developer - Roers Company Salt Lake City, UT 84115
Score: 487
VIII. Action Item: Other Business and Adjournment
A. Private Activity Bond Policy Workgroup
B. Next Meeting - Wednesday, October 8, 2025
Notice of Special Accommodations (ADA)
In compliance with the Americans with Disabilities Act, individuals needing special accommodations (including auxiliary communicative aids and services) during this meeting should notify Jenn Schumann (jdschumann@utah.gov)
Notice of Electronic or Telephone Participation
To attend virtually: https://utah-gov.zoom.us/j/89424478439
The personal data that you provide, or that is collected from you, when you attend or speak at a public meeting is classified as a public record pursuant to Utah Code 63G-2-301 of the Government Records Access Management Act (GRAMA), and may be made available to the public as provided by Utah Code 63G-2-201.
Find our Privacy Notice here. https://jobs.utah.gov/department/privacy.html
Other Information
The personal data that you provide, or that is collected from you, when you attend or speak at a public meeting is classified as a public record pursuant to Utah Code 63G-2-301 of the Government Records Access Management Act (GRAMA), and may be made available to the public as provided by Utah Code 63G-2-201.
Find our Privacy Notice here. https://jobs.utah.gov/department/privacy.html