038 of 2019 - Lease Rate & Term - Magnolia Permanent Supportive Housing; 165 S 300 East R 19-1
R 19-15
RESOLUTION NO. 38 OF 2019
A Resolution Authorizing the Lease Rate and Term for the
the Magnolia Permanent Supportive Housing Located at 165 South 300 East
WHEREAS, STH Magnolia, LLC, a Utah limited liability company ("Shelter the
Homeless"), wholly owned and managed by Shelter the Homeless, Inc., a Utah nonprofit
corporation, advances the goals of the City to assist individuals experiencing homelessness
within Salt Lake City; and
WHEREAS, the primary beneficiaries of the construction of the Magnolia permanent
supportive housing project(the "Magnolia") will be individuals experiencing chronic
homelessness who are transitioning into housing from the new Homeless Resource Centers as
part of the City, County, and State's efforts to address the homelessness and housing crisis in
Salt Lake City; and
WHEREAS, the below-market 99-year ground lease to Shelter the Homeless will
facilitate the development of the Magnolia, which would otherwise be financially unfeasible; and
WHEREAS, the City is willing to provide assistance to Shelter the Homeless in the form
of a ground lease rate for City property in the amount of$12.00 per year for a term of 99 years,
so long as the conditions of the ground lease between Shelter the Homeless and the City are met
(the "Lease Fee Waiver"); and
WHEREAS, Utah Code Section 10-8-2(1)(a)(v) allows public entities to provide
nonmonetary assistance and waive fees to and for nonprofit entities after a public hearing; and
WHEREAS, though Utah Code Section 10-8-2 does not require a study for such waiver
or assistance, in this case the Administration voluntarily performed an analysis of the
nonmonetary assistance to the nonprofit corporation (the "Analysis"); and
WHEREAS, the City Council has conducted a public hearing relating to the foregoing, in
satisfaction of the requirements of Utah Code Section 10-8-2; and
WHEREAS, the Council has reviewed the Analysis, and has fully considered the
conclusions set forth therein, and all comments made during the public hearing;
THEREFORE, BE IT RESOLVED by the City Council of Salt Lake City, Utah, as
follows:
I. The City Council hereby adopts the conclusions set forth in the Analysis, and
hereby finds and determines that, for all the reasons set forth in the Analysis, the Lease Fee
Waiver is appropriate under these circumstances.
Passed by the City Council of Salt Lake City, Utah, this 3rd day of ppcpmhPr , 2019.
SALT LAKE CITY COUNCIL
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By:
C IRPERSON
�O�A7E S�,Pti
ATTEST:
Salt L ke City Attorney's Office
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CITY RECORDER
Date: 7
Megan J. DePaulis, Senior City Attorney
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