Private Activity Bond Authority Program (PAB) - Revision 3
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General Information
- Government Type
- State Agency
- Entity
- Department of Workforce Services
- Entity Website
- https://jobs.utah.gov/
- Public Body
- Private Activity Bond Authority Program (PAB)
Notice Information
- Notice Title
- Private Activity Bond Authority Program (PAB)
- Notice Tags
- Department of Workforce Services
- Notice Type(s)
- Meeting
- Event Start Date & Time
- January 8, 2025 09:00 AM
- Description/Agenda
- 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.
- Notice of Electronic or Telephone Participation
- NA
Meeting Information
- Meeting Location
-
140 E 300 S
Salt Lake City, UT 84111
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Notice Posting Details
- Notice Posted On
- December 20, 2024 10:12 AM
- Notice Last Edited On
- April 01, 2025 08:25 AM
Download Attachments
| File Name | Category | Date Added |
|---|---|---|
| PAB 1.8.25 Board Meeting Audio Recording Compressed.mp3 | Audio Recording | 2025/01/10 08:27 AM |
| Draft PAB Board Meeting Minutes - January 8, 2025.pdf | Meeting Minutes | 2025/02/13 01:40 PM |
| 1. PAB Board Meeting Agenda - January 8, 2025.pdf | Other | 2024/12/20 10:12 AM |