PRIVATE ACTIVITY BOND PROGRAM
NOTICE OF PUBLIC MEETING
April 3, 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. January 10, 2024
IV. Action Items
A. Oath of Office - Amelia Powers Gardner
B. Administrative Rule Change
V. Status of Accounts
VI. Volume Cap Extension Requests Extension Requests
A. Single Family Housing
1. Utah Housing Corporation First
Requested Single Family Allotment for 2024
$177,492,000
B. Multifamily Housing Projects
1. Silos on 500 Fifth
180 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 Fifth
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 [January 10, 2024]
3. Lotus Citywalk Fifth
97 Units - 100% Affordable
New Construction 265 22nd St
Developer - Lotus Ogden, UT 84401
Original Allocation-$16,000,000 [January 11, 2023]
4. Alta North Station Second
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]
5. Lotus Lincoln North (Lotus Riverwalk 3) Second
149 Units - 100% Affordable
New Construction 145 E. 18th Street
Developer - Lotus Development Ogden, UT 84401
Original Allocation - $26,000,000 [October 11. 2023]
6. 9Ten West Second
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]
7. New City Plaza First
299 Units - 100% Affordable
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]
Additional after closing - $5,500,000 [January 2024]
8. Alta Fairpark First
147 Units - 100% Affordable
New Construction 140 N 1000 W
Developer - Alta Bay Capital SLC, UT 84116
Original Allocation - $21,500,000 [January 2024]
9. 2nd South Apartments First
104 Units - 100% Affordable
New Construction 934-948 W 200 S
Developer - Hermes Affordable Services, LLC SLC, UT 84101
Original Allocation - $20,000,000 [January 2024]
10. Bumper House First
237 Units - 100% Affordable
New Construction 269 Brooklyn Ave
Developer - SMH Builders SLC, UT 84101
Original Allocation - $31,000,000 [January 2024]
11. The Salvation Army Silvercrest First
52 Units - 100% Affordable
New Construction 2635 Grant Ave.
Developer - Salvation Army Ogden, UT 84401
Original Allocation - $10,100,000 [January 2024]
12. Folsom Apartments First
105 Units - 100% Affordable
New Construction 947 W. South Temple St.
Developer - Roers Co. SLC, UT 84114
Original Allocation - $22,000,000 [January 2024]
13. MODA Griffin First
110 Units - 100% Affordable
New Construction 915 W. North Temple
Developer - JF Development Group SLC, UT 84116
Original Allocation - $21,500,000 [January 2024]
VII. New Volume Cap Requests Amount Requested
A. Multifamily Housing Projects
1. Promontory Place $38,500,000
175 Units - 100% Affordable
New Construction 1025 W North Temple
Developer - Alta Bay Capital SLC, UT 84111
2. Liberty Corner $60,700,000
200 Units - 100% Affordable
New Construction 1285 S 300 W
Developer - Cowboy Partners SLC, UT 84101
3. Lotus Citywalk 2 $35,000,000
200 Units - 100% Affordable
New Construction 2261 Grant Ave.
Developer - Lotus Development Ogden, UT 84401
4. The Catherine Phase 1 $37,068,000
228 Units - 100% Affordable
New Construction 1881 W North Temple
Developer - 22 Communities LLC SLC, UT 84116
5. The Catherine Phase 1 $24,053,000
110 Units - 100% Affordable
New Construction 1881 W North Temple
Developer - 22 Communities LLC SLC, UT 84116
VIII. Other Business and Adjournment
A. Updated Executive Summary
B. Next Meeting - Wednesday, July 10, 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 McKenna Marchant at 801-468-0145.