PRIVATE ACTIVITY BOND PROGRAM
NOTICE OF PUBLIC MEETING
July 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
This meeting will be held virtually. Individuals needing to attend in-person should contact McKenna Marchant (mmarchant@utah.gov) at least 12 hours prior to the start of the meeting. In-person attendance is only available at the Olene Walker Building in Salt Lake City, Utah.
John T. Crandall, Chairman of the Board
AGENDA
I. Welcome and Introductions
II. Public Comment
III. Approval of Minutes
A. April 3, 2024
B. May 24, 2024
IV. Action Items
A. Annual PAB Policy Update
V. Status of Accounts
VI. Volume Cap Extension Requests Extension Requests
A. Single Family Housing
1. Utah Housing Corporation Second
Requested Single Family Allotment for 2024
$179,431,035
B. Multifamily Housing Projects
1. Alta North Station Third
289 Units - 100% Affordable
New Construction 1865 W. North Temple
Developer-Alta Bay Capital SLC, UT 84101
Original Allocation-$48,000,000 [October 11, 2023]
2. Lotus Lincoln North (Lotus Riverwalk 3) Third
149 Units - 100% Affordable
New Construction 145 E. 18th Street
Developer - Lotus Development Ogden, UT 84401
Original Allocation - $26,000,000 [October 11. 2023]
3. 9Ten West Third
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]
4. New City Plaza Second
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]
5. Alta Fairpark Second
147 Units - 100% Affordable
New Construction 140 N 1000 W
Developer - Alta Bay Capital SLC, UT 84116
Original Allocation - $21,500,000 [January 2024]
6. 2nd South Apartments Second
105 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]
7. Bumper House Second
237 Units - 100% Affordable
New Construction 269 Brooklyn Ave
Developer - SMH Builders SLC, UT 84101
Original Allocation - $31,000,000 [January 2024]
Requested Additional Allocation - $4,200,000 [July 2024]
8. Folsom Apartments Second
105 Units - 100% Affordable
New Construction 947 W. South Temple St.
Developer - Roers Co. SLC, UT 84114
Original Allocation - $20,400,000 [January 2024]
Requested Additional Allocation - $3,600,000 [July 2024]
9. MODA Griffin Second
110 Units - 100% Affordable
New Construction 915 W. North Temple
Developer - JF Development Group SLC, UT 84116
Original Allocation - $21,500,000 [January 2024]
10. Promontory Place First
175 Units - 100% Affordable
New Construction 1025 W North Temple
Developer - Alta Bay Capital SLC, UT 84111
Original Allocation - $38,500,000 [April 2024]
11. Liberty Corner First
200 Units - 100% Affordable
New Construction 1285 S 300 W
Developer - Cowboy Partners SLC, UT 84101
Original Allocation - $60,700,000 [April 2024]
Requested Additional Allocation - $5,000,000 [July 2024]
VII. New Volume Cap Requests Amount Requested
A. Multifamily Housing Projects
1. Provo Commons $25,600,000
129 Units - 100% Affordable
New Construction 156 W 500 S
Developer - American Development Corp. LLC Provo, UT 84601
2. Daybreak Affordable $30,500,000
176 Units - 100% Affordable
New Construction 10821 S Grandville Ave.
Developer - Wasatch Residential South Jordan, UT 84009
VIII. Other Business and Adjournment
A. Next Meeting - Wednesday, October 9, 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.