PRIVATE ACTIVITY BOND PROGRAM
NOTICE OF PUBLIC MEETING
January 8, 2025, 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 11, 2024 Minutes
IV. Action Items
A. Utah Board of Higher Education Relinquishment Reallocation - $146,620,788.60
B. IRS Calendar Year 2025 Multiplier Increase $125 to $130
C. Status of Accounts
V. Volume Cap Extension Requests Extension Requests
A. Multifamily Housing Projects
1. Alta North Station Fifth
283 Units - 100% Affordable
New Construction 1865 W. North Temple
Developer-Alta Bay Capital SLC, UT 84101
Original Allocation-$48,000,000 [October 2023]
Reduced Allocation-$45,700,000 [July 2024]
2. Lotus Lincoln North (Lotus Riverwalk 3) Fifth
143 Units - 100% Affordable
New Construction 145 E. 18th Street
Developer - Lotus Development Ogden, UT 84401
Original Allocation - $26,000,000 [October 2023]
3. Alta Fairpark Fourth
147 Units - 100% Affordable
New Construction 140 N 1000 W
Developer - Alta Bay Capital SLC, UT 84116
Original Allocation - $21,500,000 [January 2024]
4. 2nd South Apartments Fourth
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]
5. MODA Griffin Fourth
110 Units - 100% Affordable
New Construction 915 W. North Temple
Developer - JF Development Group SLC, UT 84116
Original Allocation - $21,500,000 [January 2024]
6. Liberty Corner Third
200 Units - 100% Affordable
New Construction 1265 S 300 W
Developer - Cowboy Partners SLC, UT 84101
Original Allocation - $60,700,000 [April 2024]
Additional Allocation - $5,000,000 [July 2024]
7. Provo Commons Second
129 Units - 100% Affordable
New Construction 156 W 500 S
Developer - American Development Corp. LLC Provo, UT 84601
Original Allocation - $25,600,000 [July 2024]
8. Ventana First
120 Units - 100% Affordable
New Construction 970 E Kaneplex Dr.
Developer - Acumen Development Partners Kanab, 84741
Original Allocation - $11,800,000 [October 2024]
9. Liberty Ranch First
40 Units - 100% Affordable
New Construction 6850 Liberty Ranch Lane
Developer - Cowboy Partners Park City, UT 84098
Original Allocation - $11,000,000 [October 2024]
10. Lotus Fluence First
225 Units - 100% Affordable
New Construction 120 N Washington Blvd.
Developer - Lotus Advantage Ogden, UT 84404
Original Allocation - $32,500,000 [October 2024]
11. Folsom Apartments First
108 Units - 100% Affordable
New Construction 947 W South Temple
Developer - Roers SLC, UT 84104
Original Allocation - $24,138,000 [October 2024]
VI. New Volume Cap Requests Amount Requested
A. Single Family Housing
1. Utah Housing Corporation $186,608,276
Requested Single Family Allotment for 2025
B. Multifamily Housing Projects
1. The Cooperative 1581 $21,620,000
144 Units - 100% Affordable
New Construction 1581 Millcreek Dr.
Developer - 22 Communities Moab, UT 84532
2. The Cooperative 1881 $28,285,000
198 Units - 100% Affordable
New Construction 1881 W North Temple
Developer - 22 Communities SLC, UT 84116
3. Bumper House $30,760,000
192 Units - 100% Affordable
New Construction 269 Brooklyn Ave.
Developer - 22 Communities & George Hauser SLC, UT 84101
4. Daybreak Affordable I $35,500,000
203 Units - 100% Affordable
New Construction 10821 S Grandville Ave.
Developer - Wasatch Residential Group South Jordan, UT 84009
5. Daybreak Affordable II $33,000,000
184 Units - 100% Affordable
New Construction 10851 S Grandville Ave.
Developer - Wasatch Residential Group South Jordan, UT 84009
6. SSL Affordable $50,000,000
255 Units - 100% Affordable
New Construction 55 E Haven Ave.
Developer - BCG ARC Fund SLC, UT 84115
7. The Flats at Folsom $38,880,000
188 Units - 100% Affordable
New Construction 16 S 800 W
Developer - Lincoln Avenue SLC, UT 84104
8. 1300 South Apartments $15,000,000
69 Units - 100% Affordable
New Construction 390 W 1300 S
Developer - Hermes Affordable Services SLC, UT 84101
9. Emeril Avenue $19,350,000
93 Units - 100% Affordable
New Construction 37 N 800 W
Developer - Hermes Affordable Services SLC, UT 84116
VIII. Other Business and Adjournment
A. Next Meeting - Wednesday, April 9, 2025
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.