Board Meeting: Private Activity Bond Program (PAB)
Notice Type(s)
Meeting
Event Start Date & Time
July 8, 2026 09:00 AM
Event End Date & Time
July 8, 2026 12:00 PM
Event Deadline Date & Time
07/08/26 12:00 PM
Description/Agenda
PRIVATE ACTIVITY BOND PROGRAM
NOTICE OF PUBLIC MEETING
July 8, 2026, at 9:00 a.m.
Anchor Location: 1385 S State Street Salt Lake City, Utah 84115
This meeting will be streamed at: https://utah-gov.zoom.us/j/81799838985
Steve Waldrip, Chair of the Board
AGENDA
I. Welcome and Introductions
A. New Board Members
1. Kevin Enright, Director of Finance & Facilities, representing Utah Board of Higher Education
2. Alison McKoy, Tooele County Auditor, nominated by Utah Association of Counties
3. Joey Granger, Wasatch County Clerk/Auditor, nominated by Utah Association of Counties
II. Public Comment
III. Approval of April 8, 2026 Minutes
IV. Updates from Division Leadership
V. Project Status Updates
A. Project Updates
B. Relinquished Cap Updates, if applicable
C. Status of Accounts/PAB Allocation Budget
VI. Volume Cap Extension Requests
A. Single Family Programs
1. Utah Housing Corporation Second Extension
Original Allocation: $198,654,857.10 [January 2026]
Additional Allocation: $2,000,999.70 [July 2026]
Total Allocation: $200,655,856.80
B. Multifamily Housing & Manufacturing Projects
1. KIHOMAC First Extension
Manufacturing Request
New Construction 3800 N Fairfield Road
Original Allocation $10,000,000 [April 2026] Layton, UT 84041
2. The Lupine First Extension
133 Units - 100% Affordable
New Construction 333 East 200 South
Developer - Housing Authority SLC/HAME Salt Lake City, UT 84111
Original Allocation $18,900,000 [April 2026]
3. Historic NW Pipeline Building First Extension
63 Units - 100% Affordable
New Construction/Rehabilitation 315 East 200 South
Developer - Housing Authority SLC/HAME Salt Lake City, UT 84111
Original Allocation $13,500,000 [April 2026]
4. Provo Scattered Sites First Extension
228 Units - 100% Affordable
Acquisition/Rehabilitation Various locations: Provo
Developer - Provo City Housing Authority Utah County
& Good Housing Partnership
Original Allocation $26,000,000 [April 2026]
5. theAmelia Second 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]
6. Alta North Station Second 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]
7. South Salt Lake Affordable, Phase II Second 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]
8. Emeril Apartments Second 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]
9. The Gregory Second 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]
10. The Chicago Second 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]
11. Lotus Forge Second Extension
193 Units - 100% Affordable
New Construction 2261 Grant Ave
Developer - Lotus Company Ogden, UT 84401
Original Allocation $17,000,000 [January 2026]
12. Lotus Vale Second Extension
106 Units - 100% Affordable
New Construction 195 West 7200 South
Developer - Lotus Capital Midvale, UT 84111
Original Allocation $11,500,000 [January 2026]
Voluntary partial relinquishment: $750,000 [July 2026]
Total Allocation: $10,750,000
13. One Fifty North (FKA Alta Fairpark) Third 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]
14. Jefferson Apartments Third 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]
15. Lotus Crown Third Extension
25 Units - 100% Affordable
New Construction 2331 Grant Ave
Developer - Lotus Company Ogden, UT 84401
Original Allocation: $4,000,000 [October 2025]
16. Senior Living at Millcreek Third Extension
116 Units - 100% Affordable
New Construction 151 12th Street
Developer - SLAM Development Ogden, UT 84404
Original Allocation: $13,386,000 [October 2025]
17. Kearns Apartments (scheduled to close 6/29) Third 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]
18. The Hive on 11th Fourth 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]
VII. New Volume Cap Requests Amount Requested
A. New Volume Cap Requests
1. St George Villas $3,319,000
40 Units - 100% Affordable
Acquisition/Rehabilitation 351 Tabernacle Street
Developer - Hampstead Development St George, UT 84770
Score: 365
2. Washington Yards $16,645,000
141 Units - 100% Affordable
New Construction 1060 S Washington Street
Developer - Brinshore Development Salt Lake City, UT 84101
Score: 345
3. Railyard Lofts $17,370,650
168 Units - 100% Affordable
New Construction 195 West Rushton Street
Developer - Pedcor Development Associates, LLC Ogden, UT 84401
Score: 310
4. The Winston $19,300,000
154 Units - 100% Affordable
New Construction 1485 S 300 W
Developer - CHG Utah, LLC (Chelsea) Salt Lake City, UT 84115
Score: 261
5. Golden Links Manor $2,639,000
31 Units - 100% Affordable
Acquisition/Rehabilitation 1132 24th St
Developer - Related Affordable Ogden, UT 84401
Score: 180
6. IOOF Tower $2,560,000
28 Units - 100% Affordable
Acquisition/Rehabilitation 85 W Sunset Avenue
Developer - Related Affordable South Salt Lake, UT 84115
Score: 175
VIII. Other Business and Adjournment
A. Transfer any remaining volume cap to the Pool Account
B. Next Meeting - Wednesday, October 7, 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
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