Board Meeting of the Private Activity Bond Authority Program
Notice Tags
Department of Workforce Services, Housing and Community Development
Notice Type(s)
Meeting
Event Start Date & Time
April 9, 2025 09:00 AM
Description/Agenda
PRIVATE ACTIVITY BOND PROGRAM
NOTICE OF PUBLIC MEETING
April 9, 2025, at 9:00 a.m.
Olene S. Walker Building
140 East 300 South, Room 211
Salt Lake City, Utah 84111
This meeting will be streamed at: https://utah-gov.zoom.us/j/89424478439
John T. Crandall, Chairman of the Board
AGENDA
I. Welcome and Introductions
A. HCD Staffing Update
II. Public Comment
III. Action Item: Approval of Minutes
A. January 8, 2025 Minutes
IV. Status Updates
A. Status of Accounts
B. Project Closing/Groundbreaking/Ribbon Cutting Updates, if applicable
C. Relinquished Cap Updates, if applicable
V. Action Item: Future Rebalance of Bond Allocation Accounts
A. Manufacturing Balance to Pool Account
B. Exempt Facilities Balance to Pool Account
C. 50% of Pool Account transferred to Manufacturing
D. Multi-family Account
VI. Action Item: Volume Cap Extension Requests Extension Request
A. Single Family Housing
1. Utah Housing Corporation First
Single Family Allotment for 2025 - $186,608,276
B. Multifamily Housing Projects
1. Alta Fairpark Fifth
147 Units - 100% Affordable
New Construction 140 North 1000 West
Developer-Alta Bay Capital SLC, UT 84116
Original Allocation - $21,500,000 [January 2024]
Additional Allocation - $2,000,000 [April 2025]
2. 9th Note [Moda Griffin] Fifth
110 Units - 100% Affordable
New Construction 915 W North Temple
Developer - JF Properties SLC, UT 84116
Original Allocation - $21,500,000 [January 2024]
3. Liberty Corner Fourth
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]
4. Provo Commons Apartments Third
129 Units - 100% Affordable
New Construction 156 W 500 S
Developer - M13 Construction, Incorporated Provo, UT 84601
Original Allocation - $25,600,000 [July 2024]
5. Ventana Apartments Second
120 Units - 100% Affordable
New Construction 570 E Kaneplex Drive
Developer - Acumen Development Kanab, UT 84741
Original Allocation - $11,800,000 [October 2024]
6. Lotus Fluence Second
225 Units - 100% Affordable
New Construction 120 N Washington Blvd.
Developer - Lotus Advantage Ogden, UT 84404
Original Allocation - $32,500,000 [October 2024]
7. Folsom Apartments Second
108 Units - 100% Affordable
New Construction 947 W. South Temple
Developer - Roers Companies SLC, UT 84114
Original Allocation - $24,137,592 [October 2024]
8. The Cooperative 1581 Apartments First
144 Units - 100% Affordable
New Construction 1581 Millcreek Drive
Developer - 22 Communities Moab, UT 84532
Original Allocation - $21,620,000 [January 2025]
9. The Cooperative 1881 Apartments First
198 Units - 100% Affordable
New Construction 1581 W North Temple
Developer - 22 Communities SLC, UT 84116
Original Allocation - $21,620,000 [January 2025]
10. Daybreak Phase I First
203 Units - 100% Affordable
New Construction 10821 S Grandville Ave
Developer - Wasatch Residential Group South Jordan, UT 84009
Original Allocation - $35,500,000 [January 2025]
11. Daybreak Phase II First
184 Units - 100% Affordable
New Construction 10851 S Grandville Ave
Developer - Wasatch Residential Group South Jordan, UT 84009
Original Allocation - $33,000,000 [January 2025]
12. SSL Apartments First
255 Units - 100% Affordable
New Construction 55 East Haven Ave
Developer - BCF ARC Fund South Salt Lake, UT 84115
Original Allocation - $50,000,000 [January 2025]
VII. Action Item: New Volume Cap Requests Amount Requested
A. Multifamily Housing Projects
1. Brooklyn Yard $29,210,000
171 Units - 100% Affordable
New Construction 269 Brooklyn Avenue
Developer - Brinshore Development SLC, UT 84101
Score: 567
2. The Flats at Folsom $34,000,000
188 Units - 100% Affordable
New Construction 16 S 800 W
Developer - Lincoln Avenue Communities SLC, UT 84104
Score: 562
VIII. Other Business and Adjournment
A. Next Meeting - Wednesday, July 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 Jennifer Schumann 801-468-0145 jdschumann@utah.gov