PRIVATE ACTIVITY BOND PROGRAM
NOTICE OF PUBLIC MEETING
January 10, 2024, at 9:00 a.m.
Olene S. Walker Building
140 East 300 South, Room 101 North
Salt Lake City, Utah 84111
This meeting will be streamed at: https://utah-gov.zoom.us/j/81541792181
John T. Crandall, Chairman of the Board
AGENDA
I. Welcome and Introductions
II. Public Comment
III. Approval of Minutes
A. December 13, 2023, Meeting Minutes
IV. Action Items
V. Status of Accounts
A. Utah Board of Higher Education Relinquishment Reallocation - $139,458,000.00
B. IRS calendar year 2024 multiplier increase
C. 2024 Allocation Balances
VI. Volume Cap Extension Requests Extension Requests
A. Multifamily Housing Projects
1. Silos on 500 Fourth
175 Units - 100% Affordable
New Construction 515 S 500 W
Developer - Lowe Holdings SLC, UT 84101
Original Allocation - $20,000,000 [January 11, 2023]
Additional Allocation - $1,335,000 [July 12, 2023]
2. Price Apartments Fourth
168 Units - 100% Affordable
New Construction Main St and Airport Rd
Developer - CJM Development Price, UT 84501
Original Allocation - $20,500,000 [January 11, 2023]
Additional Allocation - $2,000,000 [July 12, 2023]
Additional Allocation Requested - $1,200,000
3. Liberty Corner Fourth Extension
172 Units - 100% Affordable
New Construction 1285 S 300 W
Developer - Cowboy Partners SLC, UT 84101
Original Allocation - $42,100,000 [January 11, 2023]
4. Torman Plaza (Lotus Citywalk) Fourth Extension
97 Units - 100% Affordable
New Construction 265 22nd St
Developer - Lotus Ogden, UT 84401
Original Allocation-$16,000,000 [January 11, 2023]
5. Alta North Station First Extension
306 Units - 100% Affordable
New Construction 1865 W. North Temple
Developer-Alta Bay Capital SLC, UT 84101
Original Allocation-$48,000,000 [October 11, 2023]
6. Lotus Lincoln North First Extension
149 Units - 100% Affordable
New Construction 145 E. 18th Street
Developer - Lotus Development Ogden, UT 84401
Original Allocation - $26,000,000 [October 11. 2023]
7. 9Ten West First Extension
180 Units - 100% Affordable
New Construction 910 W North Temple
Developer - Great Lakes Capital SLC, UT 84116
Original Allocation-$21,300,000 [October 11, 2023]
VII. New Volume Cap Requests Amount Requested
A. Single Family Housing
1. Utah Housing Corporation $177,492,000
Requested Single Family Allotment for 2024
B. Multifamily Housing Projects
1. New City Plaza $5,500,000
299 Units - 100% Affordable Senior & Non-Elderly Disabled Housing
Acquisition Rehab 1966 & 1992 S 200 E
Developer - Housing Connect SLC, UT 84115
Original Allocation - $34,000,000 [January 2020]
Additional Allocation - $1,100,000 [April 2021]
Additional after closing - $2,000,000 [July 2022]
2. Alta Fairpark $21,500,000
147 Units - 100% Affordable
New Construction 140 N 1000 W
Developer - Alta Bay Capital SLC, UT 84116
3. 2nd South Apartments $20,000,000
104 Units - 100% Affordable
New Construction 934-948 W 200 S
Developer - Hermes Affordable Services, LLC SLC, UT 84101
4. Bumper House $31,000,000
237 Units - 100% Affordable
New Construction 269 Brooklyn Ave
Developer - SMH Builders SLC, UT 84101
5. The Salvation Army Silvercrest $10,100,000
52 Units - 100% Affordable Senior Housing (age 62+)
New Construction 2635 Grant Ave.
Developer - Salvation Army Ogden, UT 84401
6. Folsom Apartments $22,000,000
105 Units - 100% Affordable
New Construction 947 W. South Temple St.
Developer - Roers Co. SLC, UT 84114
7. MODA Griffin $21,500,000
110 Units - 100% Affordable
New Construction 915 W. North Temple
Developer - JF Development Group SLC, UT 84116
VII. Other Business and Adjournment
A. Next Meeting - Wednesday, April 3, 2024
a. The application deadline has been adjusted to February 8, 2024
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 Kathryn Halterman at (435)421-2675.