Board Meeting: Private Activity Bond Program (PAB)
Notice Type(s)
Meeting
Event Start Date & Time
April 8, 2026 09:00 AM
Event End Date & Time
April 8, 2026 12:00 PM
Description/Agenda
PRIVATE ACTIVITY BOND PROGRAM
NOTICE OF PUBLIC MEETING
April 8, 2026, at 9:00 a.m.
Olene 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/81799838985
Steve Waldrip, Chair of the Board
AGENDA
I. Welcome and Introductions
II. Public Comment
III. Approval of January 14, 2026 Minutes
IV. Division Leadership Update
V. Status Updates
A. Status of Accounts
B. Project Updates
C. Relinquished Cap Updates, if applicable
VI. Volume Cap Extension Requests
A. Single Family Programs
1. Utah Housing Corporation First Extension
Original Allocation: $198,654,857.10 [January 2026]
B. Multifamily Housing Projects
1. theAmelia First Extension
144 Units - 100% Affordable
New Construction 916 South 200 West
Developer - Cole West & Affordable Housing Specialists Salt Lake City, UT 84101
Original Allocation $14,500,000 [January 2026]
2. Alta North Station First Extension
292 Units - 100% Affordable
New Construction 1865 West North Temple
Developer - Alta Bay Capital Salt Lake City, UT 84116
Original Allocation $22,365,000 [January 2026]
3. South Salt Lake Affordable, Phase II First Extension
138 Units - 100% Affordable
New Construction 2250 S State Street
Developer - BCG ARC Fund South Salt Lake, UT 84115
Original Allocation $12,500,000 [January 2026]
4. Emeril Apartments First Extension
135 Units - 100% Affordable
New Construction 826 Emeril Avenue
Developer - Community Development Corporation Salt Lake City, UT 84116
Of Utah & BlueLine Development
Original Allocation $12,900,000 [January 2026]
5. The Gregory First Extension
169 Units - 100% Affordable
New Construction 738 W South Temple
Developer - Great Lakes Capital Salt Lake City, UT 84104
Original Allocation $15,800,000 [January 2026]
6. The Chicago First Extension
119 Units - 100% Affordable
New Construction 27-41 North Chicago Street
Developer - Great Lakes Capital Salt Lake City, UT 84104
Original Allocation $11,600,000 [January 2026]
7. Lotus Forge First Extension
193 Units - 100% Affordable
New Construction 2261 Grant Ave
Developer - Lotus Company Ogden, UT 84401
Original Allocation $17,000,000 [January 2026]
8. Lotus Vale First Extension
106 Units - 100% Affordable
New Construction 195 West 7200 South
Developer - Lotus Capital Midvale, UT 84111
Original Allocation $11,500,000 [January 2026]
9. One Fifty North (FKA Alta Fairpark) Second Extension
165 Units - 100% Affordable
New Construction 140 North 1000 West
Developer - Alta Bay Capital Salt Lake City, UT 84116
Original Allocation: $20,000,000 [October 2025]
Revised Allocation: $12,600,000 [January 2026]
10. Promontory Place Second Extension
175 Units - 100% Affordable
New Construction - Post Closing Request 1025 W North Temple
Developer - Alta Bay Capital Salt Lake City, UT 84116
Original Allocation: $38,500,000 [April 2024]
Original Project Closing Date: [December 2024]
Supplemental Allocation: $3,000,000 [October 2025]
11. Kearns Apartments Second Extension
82 Units - 100% Affordable
New Construction/Rehabilitation 5000 W 5035 S; 4950 W 5100 S
Developer - Brinshore/Housing Connect Kearns, UT 84118
Original Allocation: $10,900,000 [October 2025]
12. Jefferson Apartments Second Extension
182 Units - 100% Affordable
New Construction 1376-1390 S Jefferson St
Developer - Great Lakes Capital Salt Lake City, UT 84115
Original Allocation: $11,600,000 [October 2025]
13. Lotus Crown Second Extension
25 Units - 100% Affordable
New Construction 2331 Grant Ave
Developer - Lotus Company Ogden, UT 84401
Original Allocation: $4,000,000 [October 2025]
14. Senior Living at Millcreek Second Extension
116 Units - 100% Affordable
New Construction 151 12th Street
Developer - SLAM Development Ogden, UT 84404
Original Allocation: $13,386,000 [October 2025]
15. Camden Court (fka 1300 S Apartments) Third Extension
96 Units - 100% Affordable
New Construction 400 W 1215-1225 South
Developer - Hermes Affordable Services 390 W 1300 South
Original Allocation: $19,100,000 [July 2025] Salt Lake City, UT 84101
16. Flats at Folsom Third Extension
188 Units - 100% Affordable
New Construction 16 South 800 West
Developer - Lincoln Ave Communities Salt Lake City, UT 84104
Original Allocation: $30,848,000 [July 2025]
17. The Hive on 11th Third Extension
169 Units - 100% Affordable
New Construction 1116 S Richards Street
Developer - Lincoln Ave Communities SLC, UT 84101
Original Allocation: $27,155,000 [July 2025]
18. Daybreak Phase II Fifth 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]
VII. New Volume Cap Requests Amount Requested
A. New Volume Cap Requests
1. KIHOMAC $10,000,000
Manufacturing Request
New Construction 3800 N Fairfield Road
Score: 555 Layton, UT 84041
2. Ventana Apartments $7,100,000
120 Units - 100% Affordable
New Construction 970 E Kaneplex Drive
Developer - Acumen Development Partners Kanab, UT 84741
Score: 375
3. The Lupine $18,900,000
133 Units - 100% Affordable
New Construction 333 East 200 South
Developer - Housing Authority SLC/HAME Salt Lake City, UT 84111
Score: 261
4. Historic NW Pipeline Building $13,500,000
63 Units - 100% Affordable
New Construction 315 East 200 South
Developer - Housing Authority SLC/HAME Salt Lake City, UT 84111
Score: 250
5. Provo Scattered Sites $26,000,000
228 Units - 100% Affordable
Acquisition/Rehabilitation Various locations: Provo
Developer - Provo City Housing Authority
& Good Housing Partnership
Score: 250
VIII. Other Business and Adjournment
A. Transfer of Exempt Facilities and Small Issue Manufacturing Bond Account to the Pool Account
B. Stephen 'Chip' Dawson Acknowledgement and Appreciation
C. Nicole Rosenburg Acknowledgement and Appreciation
D. Next Meeting - Wednesday, July 08, 2026
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 Janell Quiroz (jquiroz@utah.gov)
Notice of Electronic or Telephone Participation
https://utah-gov.zoom.us/j/81799838985
Other Information
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