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Home My WebLink About02/03/2026 - Work Session - Meeting MaterialsSALT LAKE CITY COUNCIL AGENDA WORK SESSION February 3, 2026 Tuesday 2:00 PM Council meetings are held in a hybrid meeting format. Hybrid meetings allow people to join online or in person at the City & County Building. Learn more at www.slc.gov/council/agendas. Council Work Room 451 South State Street Room 326 Salt Lake City, UT 84111 SLCCouncil.com 7:00 pm Formal Meeting Room 315 (See separate agenda) CITY COUNCIL MEMBERS: Alejandro Puy, Chair District 2 Erika Carlsen, Vice Chair District 5 Victoria Petro District 1 Chris Wharton District 3 Eva Lopez Chavez District 4 Dan Dugan District 6 Sarah Young District 7 The Work Session is a discussion among Council Members and select presenters. The public is welcome to listen. Items scheduled on the Work Session may be moved and / or discussed during a different portion of the Meeting based on circumstance or availability of speakers. The Website addresses listed on the agenda may not be available after the Council votes on the item. Not all agenda items will have a webpage for additional information read associated agenda paperwork. Generated: 09:34:13 Welcome and public meeting rules Note: Dates not identified in the project timeline are either not applicable or not yet determined. Item start times and durations are approximate and are subject to change. Work Session Items 1.Informational: Updates from the Administration ~ 2:00 p.m. 15 min. The Council will receive information from the Administration on major items or projects in progress. Topics may relate to major events or emergencies (if needed), services and resources related to people experiencing homelessness, active public engagement efforts, wildfire mitigation, and projects or staffing updates from City Departments, or other items as appropriate. FYI – Project Timeline: (subject to change per Chair direction or Council discussion) Briefing - Recurring Briefing Set Public Hearing Date - n/a Hold hearing to accept public comment - n/a TENTATIVE Council Action - n/a 2.Ordinance: Disposition of Alleys and Street Text Amendment ~ 2:15 p.m. 20 min. The Council will receive a briefing about a proposal that would amend sections 14.52 and 20.16.050 of the Salt Lake City Code to establish a consistent process for requests to close or vacate City-owned public streets or alleys. The proposal would also make the disposition process consistent in the context of a subdivision application and update the polices and standards that must be adhered to. FYI – Project Timeline: (subject to change per Chair direction or Council discussion) Briefing - Tuesday, February 3, 2026 Set Public Hearing Date - Tuesday, February 3, 2026 Hold hearing to accept public comment - Tuesday, February 17, 2026 at 7 p.m. TENTATIVE Council Action - Tuesday, March 10, 2026 3.Ordinance: Rio Grande Master Plan and Zoning Map Amendment ~ 2:35 p.m. 20 min. The Council will receive a briefing about a proposal that would amend the zoning for 32 properties located in the Rio Grande District, between 200 South and 400 South, and 500 West and 600 West, from G-MU (Gateway-Mixed Use District) to D-4 (Downtown Secondary Central Business District). The proposal would allow for additional building height. The proposal would also amend the Downtown Plan to include the mid-block walkways within the Rio Grande District and update the Implementation Plan. Consideration may be given to rezoning the property to another zoning district with similar characteristics. The project is within Council District 2. FYI – Project Timeline: (subject to change per Chair direction or Council discussion) Briefing - Tuesday, February 3, 2026 Set Public Hearing Date - Tuesday, February 17, 2026 Hold hearing to accept public comment - Tuesday, March 10, 2026 at 7 p.m. TENTATIVE Council Action - Tuesday, March 24, 2026 4.Resolution: Northwest Pipeline Building and New Construction Public Benefits Analysis ~ 2:55 p.m. 30 min. The Council will receive a briefing about a public benefit analysis conducted by the Department of Community and Neighborhoods (CAN) for a housing development project known as The Grove, at approximately 321 East 200 South. The proposed development, which would include the historic Northwest Pipeline building as well as new construction, would provide 196 affordable housing units, plus commercial space, a parking structure, a public plaza, and more. The City would sell the 2.42-acre property at a below-market sales price of $1 million, paid over a 55-year period. The public benefit analysis finds that this development project would promote City goals of increasing affordable housing, elimination of a development impediment, and preservation of historic structures and property, among others. FYI – Project Timeline: (subject to change per Chair direction or Council discussion) Briefing - Tuesday, February 3, 2026 Set Public Hearing Date - Tuesday, February 3, 2026 Hold hearing to accept public comment - Tuesday, February 17, 2026 at 7 p.m. TENTATIVE Council Action - Tuesday, February 17, 2026 5.Tentative Break ~ 3:25 p.m. 20 min. FYI – Project Timeline: (subject to change per Chair direction or Council discussion) Briefing - n/a Set Public Hearing Date - n/a Hold hearing to accept public comment - n/a TENTATIVE Council Action - n/a 6.Resolution: Second Issuance of General Obligation Bond for Parks, Trails, and Open Space Improvements ~ 3:45 p.m. 30 min. The Council will receive a briefing about the second issuance of the General Obligation Bond for Parks, Trails, and Open Space, Series 2026. Voters authorized no more than $85 million for the bond in November 2022. The second issuance would be up to $51 million to fund acquiring, improving, renovating and upgrading various parks, trails, open space and related facilities and recreational amenities in the City, delegating authority to certain officials and officers of the City, and providing for related matters. FYI – Project Timeline: (subject to change per Chair direction or Council discussion) Briefing - Tuesday, February 3, 2026 Set Public Hearing Date - n/a Hold hearing to accept public comment - n/a TENTATIVE Council Action - Tuesday, February 17, 2026 7.Ordinance: Budget Amendment No.4 for Fiscal Year 2025-26 Follow-Up ~ 4:15 p.m. 20 min. The Council will receive a follow-up briefing about Budget Amendment No.4 for the Fiscal Year 2025-26 Budget. Budget amendments happen several times each year to reflect adjustments to the City’s budgets, including proposed project additions and modifications. The proposed amendment includes the rescoping of Open Streets funds, a mobile command center purchase, Old Library (formerly known as the Leonardo) capital improvements, a pedestrian bridge, and Fleet purchases, among other items. For more information visit tinyurl.com/SLCFY26. FYI – Project Timeline: (subject to change per Chair direction or Council discussion) Briefing - Tuesday, January 13, 2026, Tuesday, January 20, 2026, and Tuesday, February 3, 2026 Set Public Hearing Date - Tuesday, January 13, 2026 Hold hearing to accept public comment - Tuesday, February 3, 2026 at 7 p.m. TENTATIVE Council Action - Tuesday, February 17, 2026 8.Advice and Consent: Salt Lake City Chief Information Officer – Zach Posner ~ 4:35 p.m. 10 min. The Council will interview Zach Posner prior to considering his appointment as the Salt Lake City Chief Information Officer (Director of Information Management Services or IMS). FYI – Project Timeline: (subject to change per Chair direction or Council discussion) Briefing - Tuesday, February 3, 2026 Set Public Hearing Date - n/a Hold hearing to accept public comment - n/a TENTATIVE Council Action - Tuesday, February 3, 2026 9.Informational: State Legislative Briefing Follow-Up ~ 4:45 p.m. 20 min. The Council will receive a follow-up briefing about issues affecting the City that may arise during the 2026 Utah State Legislative Session. FYI – Project Timeline: (subject to change per Chair direction or Council discussion) Briefing - Tuesday, January 13, 2026 and Tuesday, February 3, 2026 Set Public Hearing Date - n/a Hold hearing to accept public comment - n/a TENTATIVE Council Action - n/a 10.Board Appointment: Historic Landmark Commission – Steven Cornell ~ 5:05 p.m. 5 min. The Council will interview Steven Cornell, resident of District 7, prior to considering appointment to the Historic Landmark Commission for a term ending February 3, 2030. FYI – Project Timeline: (subject to change per Chair direction or Council discussion) Briefing - Tuesday, February 3, 2026 Set Public Hearing Date - n/a Hold hearing to accept public comment - n/a TENTATIVE Council Action - Tuesday, February 3, 2026 Standing Items 11.Report of the Chair and Vice Chair - - Report of the Chair and Vice Chair 12.Report and Announcements from the Executive Director - - Report of the Executive Director, including a review of Council information items and announcements. The Council may give feedback or staff direction on any item related to City Council business, including but not limited to: •Public Utilities Newsletter •Scheduling Items. 13.Tentative Closed Meeting - - The Council will consider a motion to enter into Closed Meeting. A closed meeting described under Utah Code Annotated (UCA) Section §52-4-205 may be held for specific purposes including, but not limited to discussing: a. discussion of the character, professional competence, or physical or mental health of an individual. b. strategy sessions to discuss collective bargaining. c. strategy sessions to discuss pending or reasonably imminent litigation. d. strategy sessions to discuss the purchase, exchange, or lease of real property, including any form of a water right or water shares, if public discussion of the transaction would: (i) disclose the appraisal or estimated value of the property under consideration, or (ii) prevent the public body from completing the transaction on the best possible terms. e. strategy sessions to discuss the sale of real property, including any form of a water right or water shares, if: (i) public discussion of the transaction would: (A) disclose the appraisal or estimated value of the property under consideration, or (B) prevent the public body from completing the transaction on the best possible terms. (ii) the public body previously gave public notice that the property would be offered for sale, and (iii) the terms of the sale are publicly disclosed before the public body approves the sale. f. discussion regarding deployment of security personnel, devices, or systems. g. investigative proceedings regarding allegations of criminal misconduct. A closed meeting may also be held for attorney-client matters that are privileged pursuant to Utah Code § 78B-1-137, and for other lawful purposes that satisfy the pertinent requirements of the Utah Open and Public Meetings Act. CERTIFICATE OF POSTING On or before 5:00 p.m. on Thursday, January 29, 2026, the undersigned, duly appointed City Recorder, does hereby certify that the above notice and agenda was (1) posted on the Utah Public Notice Website created under Utah Code Section 63F-1-701, and (2) a copy of the foregoing provided to The Salt Lake Tribune and/or the Deseret News and to a local media correspondent and any others who have indicated interest. KEITH REYNOLDS SALT LAKE CITY RECORDER Final action may be taken in relation to any topic listed on the agenda, including but not limited to adoption, rejection, amendment, addition of conditions and variations of options discussed. The City & County Building is an accessible facility. People with disabilities may make requests for reasonable accommodation, which may include alternate formats, interpreters, and other auxiliary aids and services. Please make requests at least two business days in advance. To make a request, please contact the City Council Office at council.comments@slc.gov, 801-535-7600, or relay service 711. Administrative Updates February 3, 2026 shape.slc.gov Community Engagement Highlights Community & Neighborhoods slc.gov/canBallpark NEXT / RDA Ballparknext.com Planning Thriving in PlacePlanning & CRA Northwest Community Plan Update (D1,2) •2nd Planning Commission hearing Feb. 25 Expanding Housing Options (Citywide) •Public engagement is open Avenues and Capitol Hill Community Plan Updates (D3) •Avenues draft plan nearing completion •Capitol Hill ongoing •Community engagements available (details next slide) Ballpark Next (D5) •45 public engagement period ended yesterday •Proposed zoning will come soon Community & Neighborhoods slc.gov/canBallpark NEXT / RDA Ballparknext.com Planning Thriving in PlaceCapitol Hill Engagement Opportunities Wednesday, February 11, 2026 5:30 PM – 7 PM Mountain West Cider 425 N 400 W Thursday, February 19, 2026 12 PM – 2 PM 801 Coffee Roasters 550 N 300 W Monday, February 23, 2026 5 PM – 7 PM Lee’s Market at 4th West (Upstairs Café) 225 N 400 W Bldg. 1040 Homeless Resource Center Utilization: January 26-30th: 97.6% https://endutahhomelessness.org/daily-bed-availability/ Encampment Impact Mitigation/ Rapid Response Team: •EIM- None •RRT- Jordan Park area,Victory Road, Southeast City,Memory Grove/ Avenues, West 9Line Homelessness Update Shelters: 801-990-9999 Additional System Information: Salt Lake Valley Coalition to End Homelessness (SLVCEH) endutahhomelessness.org/ salt-lake-valley Utah Office of Homeless Services (OHS) jobs.utah.gov/homelessness/ index.html Code Blue: Unsheltered Utah needs volunteers! https://www.justserve.org/projects/3e6849d0 -e8b3-4fd9-942f-b1a0376980bd Resource Fair: Next Fair: Fri Feb 13th @ GEK Next Justice Court: Feb 6th @ DWS 2026 Point In Time Count •THANK YOU! •January 29th -31st 4-6am •https://endutahhomelessness.org/salt -lake- valley/salt -lake-county-pit-count/ CITY COUNCIL OF SALT LAKE CITY 451 SOUTH STATE STREET, ROOM 304 P.O. BOX 145476, SALT LAKE CITY, UTAH 84114-5476 SLCCOUNCIL.COM TEL 801-535-7600 FAX 801-535-7651 COUNCIL STAFF REPORT CITY COUNCIL of SALT LAKE CITY TO:City Council Members FROM:Brian Fullmer Policy Analyst DATE:February 3, 2026 RE: Disposition of Alleys and Streets Text Amendment PLNPCM2025-00423 The Council will be briefed about a text amendment initiated by the Planning Commission to modify the section of City code related to closing to public use, or vacating (relinquishing ownership) of City-owned rights of way including alleys, streets and street segments. Chapter 14.52 includes the process and standards for closing and vacating alleys but standards for closing and vacating streets have not been codified. Proposed changes will create the same process for closing streets, street segments, and alleys and updates factors that should be considered when reviewing street and alley closure applications. A notable change removes the lack of use factor for illegal or “self-inflicted” obstructions in alleys unless the applicant can demonstrate the obstruction was installed prior to April 12, 1995, the date of the last comprehensive zoning code rewrite. It is worth noting that the proposal says fences or gates blocking access at the ends of alleys should not be used to justify lack of use, regardless of when they were installed. The Planning Commission reviewed the proposal at its September 24, 2025 meeting and held a public hearing at which no one spoke. The Commission forwarded a unanimous positive recommendation to the Council on the proposed amendments. Goal of the briefing: Review the proposed text amendment and determine if the Council supports moving forward with the proposal. Item Schedule: Page | 2 POLICY QUESTIONS 1. The draft ordinance removes language stating the City’s preference for disposing of an entire alley, rather than a small segment. The Council may wish to discuss whether to add this back to the ordinance. 2. The Council may wish to discuss whether to change the ordinance requirements about when adjacent property owners need to buy vacated property at market rate. Currently City code requires alley vacation requests to satisfy at least one of the following policy considerations: A. Lack of Use: The alley is shown in records but does not physically exist or has been blocked and cannot be used as a right-of-way. B. Public Safety: Existence of the alley contributes crime, illegal activity, unsafe conditions, public health problems, or blight in the surrounding area. C. Urban Design: Continuation of the alley does not serve as a positive urban design element. D. Community Purpose: Restricting public use of the alley in favor of a community use, such as a neighborhood play area or garden. The draft ordinance removes consideration C: Urban Design because Planning found the lack of use and proposed impact on general plan considerations address this. Four additional considerations are proposed to help ensure there are no unintended consequences from closing or vacating rights-of-way: 1. Impact on General Plan: right-of-way closures or vacations do not negatively impact connectivity for future development based on the general plan. 2. Impact to Property: closures or vacations will not result in any property being landlocked. 3. Public Utilities: if a right-of-way proposal for closure or vacation is essential for current or future public utilities, an easement or other similar legal agreement granting access will be required. 4. Dimensions: existing right-of-way dimensions are not necessary to provide safe and reasonable public access. Reducing the size is consistent with other listed factors. The proposed ordinance says that all seven factors should be considered when evaluating potential right- of-way closures, but all factors may not be applicable in some cases. Under the current ordinance, when an alley adjacent to low density residential properties is vacated, the alley property is given to those owners at no cost. “Low density residential” is defined as single-family, duplex, or twin home zones. The proposal defines “low density residential” as properties that are designated as having less than 25 dwelling units per acre in future land use maps within the applicable general plan. Currently when streets or street segments adjacent to low density residential properties are vacated the property owners are required to pay market rate for the vacated property. Under the proposal street vacations next to low density residential properties would be treated the same as alleys and the vacated property given to adjacent owners. No changes are proposed to the requirement for market value payment for vacated streets and alleys next to high density residential and non-residential properties. Page | 3 A new option is proposed that would allow exchanging a City right-of-way for other land that serves a public purpose or provides public benefit. This is not currently in City code but was done as part of the West High School development project. That decision was made by the City Council and would be the practice if the proposed ordinance is adopted. Other Proposed Changes KEY CONSIDERATION Consideration 1 – Impact on Alley Vacation Requests CITY DEPARTMENT REVIEW During City department and division review of the proposed text amendment, responding departments and divisions did not express opposition to the proposed rezone though some noted the need for their department or division to be notified of proposed vacations and closures. This is current practice and would not change under the proposal. Page | 4 PROJECT CHRONOLOGY • February 15, 2025 – Petition initiated by Salt Lake City Planning Commission. • April 21, 2025 – Petition assigned to Ben Buckley, Principal Planner. • May 7, 2025 – Notice emailed to recognized organizations citywide. • May 13, 2025 – Petition posted to the Planning Division’s webpage as an online open house. Public Comment period ended June 23, 2025. • June 4, 2025 – Planning staff presented the proposal to the Greater Avenues Community Council. • September 11, 2025 – Planning Commission agenda posted website and emailed to the listserv. • September 24, 2025 – Planning Commission meeting and public hearing. A unanimous positive recommendation was forwarded to the City Council. • September 25, 2025 – Ordinance requested from the Attorney’s Office. • January 6, 2026 – Ordinance received from the Attorney’s Office. • January 13, 2026 – Transmittal received in City Council Office. Salt Lake City // Planning Division www.slc.gov/planning City Council –February 3, 2026 PLNPCM2025-00423 DISPOSITION OF ALLEYS & STREETS TEXT AMENDMENT Salt Lake City //Planning Division www.slc.gov/planning BACKGROUND •Planning Commission initiated in February 2025 to modify 14.52 and address lack of use policy consideration. •Intent is to include all city owned streets and alleys and to update the policies that must be met or considered. •Planning Commission forwarded a positive recommendation with a modification in September 2025. Salt Lake City //Planning Division www.slc.gov/planning CONSIDERATION FACTORS NOW •Four factors currently exist; requests must meet at least one for the city to consider disposing of an alley •Lack of Use •Public Safety •Urban Design •Community Purpose An alley with structures and vegetation built into it, satisfying the Lack of Use factor. Salt Lake City // Planning Division www.slc.gov/planning CONSIDERATION FACTORS PROPOSED •Seven proposed factors - no longer required to meet one: 1.Impact on General Plan 2.Impact to Property 3.Public Utilities 4.Size Factors 5.Lack of Use 6.Public Safety 7.Community Purpose •Lack of Use modifications to not allow illegal obstructions to be considered if installed after April 12, 1995 •Urban Design policy factor was removed Salt Lake City // Planning Division www.slc.gov/planning METHOD OF DISPOSITION •Retains the three existing methods of disposition and adds two new methods •Exchange of land •Simple closure for public or private purpose •Modifies what is to be considered “low density residential use” •Must be 25 dwelling units per acre or less according to the applicable future land use map Salt Lake City // Planning Division www.slc.gov/planning INCLUSION OF STREETS •Vacating or closing streets has no set policies or procedures •Streets have been processed using the same process as alleys or via the 1999 City Council Policies Requests for the vacation of the space between the sidewalk and property line would now be included in 14.52. Salt Lake City // Planning Division www.slc.gov/planning PUBLIC HEARING REQUIREMENTS •All vacation and closure requests are currently required to have a public hearing with the Planning Commission •New requests can be exempt if there are no objections or concerns from City departments or public •City Council would receive recommendation from Planning Director instead of Planning Commission Salt Lake City // Planning Division www.slc.gov/planning POST PLANNING COMMISSION COMMENTS •Planning Staff recommends adding an additional exemption to 14.52.070.C that would allow Council to waive payment when the land is conveyed to a government entity. •The Engineering Division provided comments after the Planning Commission recommended approval of the text amendment and is here to answer any questions that Council may have regarding their recommendations. Salt Lake City // Planning Division www.slc.gov/planning Ben Buckley // Principal Planner benjamin.buckley@slc.gov 801-535-7142 SALT LAKE CITY TRANSMITTAL To: Salt Lake City Council Chair Submission Date: 01/07/2026 Date Sent to Council: 01/13/2026 From: Department * Community and Neighborhood Employee Name: Buckley, Benjamin E-mail benjamin.buckley@slc.gov Department Director Signature Director Signed Date 01/12/2026 Chief Administrator Officer's Signature Chief Administrator Officer's Signed Date 01/13/2026 Subject: Text Amendment - Disposition of Alleys and Streets Additional Staff Contact: Kristina Gilmore - Kristina.Gilmore@slc.gov Presenters/Staff Table Kristina Gilmore - Kristina.Gilmore@slc.gov Document Type Ordinance Budget Impact? Yes No Recommendation: Recommend to approve. Background/Discussion See ﬁrst attachment for Background/Discussion Public Hearing Is there a City or State statutory requirement to hold a public hearing for this item?* Yes No The City Council reserves the option to hold and notice for a public hearing pursuant to their practices for public engagement. Does the City have a general practice to hold a public hearing for this item?* Yes No Public Process To be done: Notice of City Council Public HearingCompleted: 45 day public engagement via an online open house, public postings, and request for comment from all city recognized community organizations. This page has intentionally been left blank ERIN MENDENHALL DEPARTMENT of COMMUNITY Mayor and NEIGHBORHOODS Tammy Hunsaker Director SALT LAKE CITY CORPORATION 451 SOUTH STATE STREET, ROOM 404 WWW.SLC.GOV P.O. BOX 145486, SALT LAKE CITY, UTAH 84114-5486 TEL 801.535.6230 FAX 801.535.6005 CITY COUNCIL TRANSMITTAL BACKGROUND/DISCUSSION: This text amendment modifies Section 14.52 of the Salt Lake City Code of Ordinances to establish a consistent process and updated factors for consideration for requests to close or vacate public streets or alleys. Section 14.52 outlines the process and standards for alley closures and vacations, however, the process and standards for closing and vacating streets has never been codified. At the February 12, 2025, Planning Commission meeting, the Salt Lake City Planning Commission unanimously voted to initiate a text amendment to modify section 14.52. The intent of the amendment and the Planning Commission’s initiation is to create the same process for requests to close or vacate both streets and alleys, as well as updating the policies and standards that must be adhered to, including the removal of the possibility of “self-inflicted” lack of uses satisfying a policy consideration. The current ordinance lists four factors for consideration in Section 14.52.020, and at least one must be met for an alley closure or vacation to be considered. These factors are: lack of use, public safety, urban design, and community purpose. The proposed ordinance amends the lack of use factor so that illegal or self-inflicted obstructions may not be used to satisfy this policy unless the applicant can demonstrate that the structure existed prior to April 12, 1995. In addition, four new policy factors are added (impact on general plan, impact to property, public utilities, and size factors), and one factor is removed (urban design) to broaden the scope of review for alley and street vacations. This allows for a more thorough review of requests and will help ensure there are no unintended consequences from the closure of vacation. Under the current code, any alley or street closure or vacation request must meet at least one factor of consideration. The proposed ordinance modifies this to say that the seven policy factors should be considered, but that vacations decisions are not controlled by a single factor and that not all factors will be applicable to every petition. Instead, planning staff will evaluate the vacation or closure request holistically against all seven factors. This is similar to other legislative decisions related to the city’s built environment, such as general plan amendments and zoning amendments. This preserves the City Council’s discretion to consider unique circumstances and local context of a proposal. The ordinance also establishes a new exemption to the payment requirement by allowing a land exchange in lieu of payment, provided the exchanged land serves a public purpose or provides a public benefit, as determined by the City Council. In addition, the ordinance would codify the processes for public-purpose and private-purpose closures as alternatives to a street vacation. For purposes of evaluating vacations adjacent to low-density residential areas, a “low-density residential area” is defined as land designated for up to 25 dwelling units per acre on the applicable future land use map. The proposed changes also include exceptions to the process when a closure or vacation is following processes outlined in state code, which does not always require the planning commission to hold a public hearing for a closure when the area subject to a request will still be public space. This recently occurred with an alley that cut through a park. The alley was closed but retained for public uses and therefore was subject to a different process in Utah Code. Finally, the Planning Commission is currently required to hear and make a recommendation to City Council on all alley and street vacation or closure requests. The ordinance has introduced an exemption from the Planning Commission hearing if, after the 45-day public comment period, no concerns or objections regarding the factors of consideration are raised by city departments or the general public. These objections must be rooted in the policies and not a general disdain for closures or vacations. In lieu of a Planning Commission recommendation, the City Council would receive a recommendation from the Planning Director. PUBLIC PROCESS: Public Input: • May 7, 2025: A notice of the petition was sent to all city recognized community organizations per City Code Chapter 2.60 with a link to the online open house webpage. The recognized organizations were given 45 days to respond with any concerns and 14 days to request staff to meet with them and discuss the proposed amendment. • June 4, 2025: Staff attended the Greater Avenues Community Council to present the draft ordinance to the organization. No other meetings were attended. No comments were received. • May 13 – June 23, 2025: An online open house was held. One email was received in support of the amendment. Planning Commission Public Hearing: The Planning Commission considered the amendment at the September 24, 2025, public hearing and voted unanimously to send a positive recommendation with a modification to the City Council based on staff’s proposed ordinance. The Planning Commission modified the proposal to change the date of consideration for existing structures from the year 2000 to April 12, 1995. Planning Commission (PC) Records a) PC Agenda of September 24, 2025 (Click to Access) b) PC Minutes of September 24, 2025 (Click to Access) c) Planning Commission Staff Report of September 24, 2025 (Click to Access Report) ADDITIONAL CONSIDERATIONS: Planning staff has an additional recommendation for Council’s consideration that arose after the Planning Commission forwarded a positive recommendation. Staff recommends adding an additional exemption to Section 14.52.70.C to allow the City Council to waive the payment obligation for vacations when the property is being conveyed to a government entity, such as a school district. Furthermore, additional department input was received after Planning Commission forwarded its recommendation. The City Engineer provided the following comment which is not reflected in the ordinance recommended by the Planning Commission: The City Engineer recommends that the City adopt an expressed preference of maintaining a uniform Public Right of Way throughout the City to ensure consistent points of access and delivery of public and franchised private utilities to all City residents and businesses. The Public Right of Way, or Public Way as cited in City Code 14.32.015, serves a broader public interest that must take into consideration both current and future potential public needs for sub-surface, surface and aerial utilities alike. Such public needs include future installations as well as access for perpetual maintenance needs of new and existing public infrastructure. The City Engineer is concerned that the vacatur of any street or alley may include the public way. Therefore, in the event a street or alley is vacated, the City Engineer recommends including an express reservation for access for the repair and maintenance of existing public utilities, franchised private utilities and other infrastructure or the location of future public utilities and infrastructure; such access shall also be reserved for all municipal emergency needs and franchised private utilities operating with a municipal franchise agreement. Planning staff wishes to clarify that the proposed amendments, as attached in the exhibits, apply only to streets and alleys, not all public ways. Expanding the amendments to apply to all public ways would also include trails, easements, midblock walkways, and other similar facilities, which is not the intent of the proposed changes. Vacating or closing trails, easements, and other types of rights of way are addressed in chapter 2.58 City Owned Real Property of City Code. Including all public rights of way in this section creates conflicting processes. Public streets and alleys are not considered real property, so it is not appropriate to treat them the same way as real property. The City Council should consider whether the input from the City Engineer warrants further changes to the proposal prior to making a final decision on this proposal. EXHIBITS: 1) Ordinance 2) Project Chronology 3) Notice of City Council Public Hearing 4) Petition to Initiate This page has intentionally been left blank Exhibits: 1.ORDINANCE 2.PROJECT CHRONOLOGY 3.NOTICE OF CITY COUNCIL PUBLIC HEARING 4.PETITION TO INITIATE 1. ORDINANCE V1 1 Project Title: Disposition of City Owned Rights of Way Amendments Petition No.: PLNPCM2025-00423 Version: Planning Commission Recommended Date Prepared: January 6, 2026 Action by Planning Commission: Recommended 9/24/2025 This proposed ordinance makes the following amendments (for summary purposes only): Rewrites chapter 14.52 to address disposition of streets and alleys Amends Section 20.16.050 to make the disposition process consistent in the context of a subdivision application Underlined text is new; text with strikethrough is proposed to be deleted. Modifications made as part of the Planning Commission recommendation are highlighted in yellow. All other text is existing with no proposed change. 1. Amends the list of chapters at the beginning of Title 14 as follows: 1 2 TITLE 14 3 STREETS, SIDEWALKS AND PUBLIC PLACES 4 Accommodation Of Bicyclists And Pedestrians At All City Owned Transportation Facilities In The 5 Public Right-Of-Way 14.06 6 Street And Building Numbering System 14.08 7 Monuments 14.10 8 Street And Sidewalk Use 14.12 9 Sidewalk Use Restrictions 14.20 10 Streets And Sidewalks; Unlawful Acts 14.28 11 Construction, Excavation And Obstructions In The Public Right-Of-Way 14.32 12 News Racks 14.36 13 Sidewalk Entertainers And Artists 14.38 14 Utility Poles And Wires 14.40 15 Railroads 14.44 16 Decorative Street Lighting Program 14.48 17 Disposition Of City Owned AlleysRights of Way 14.52 18 Dedication Of Private Streets To Public Ownership 14.54 19 Wireless Facilities In The Public Way 14.56 20 21 2. Deletes and replaces Chapter 14.52 as follows: 22 23 CHAPTER 14.52 DISPOSITION OF CITY OWNED ALLEYS 24 SECTION: 25 14.52.010: Disposition Of City's Property Interest In Alleys 26 14.52.020: Policy Considerations For Closure, Vacation Or Abandonment Of City Owned Alleys 27 14.52.030: Processing Petitions 28 14.52.040: Method Of Disposition 29 14.52.050: Petition For Review 30 APPROVED AS TO FORM Salt Lake City Attorney’s Office Date: __January 6, 2026__________ By: ___________________________ Katherine D. Pasker, Senior City Attorney V1 2 31 14.52.010: DISPOSITION OF CITY'S PROPERTY INTEREST IN ALLEYS: 32 The City supports the legal disposition of Salt Lake City's real property interests, in whole or in part, with 33 regard to City owned alleys, subject to the substantive and procedural requirements set forth herein. 34 35 14.52.020: POLICY CONSIDERATIONS FOR CLOSURE, VACATION OR ABANDONMENT OF 36 CITY OWNED ALLEYS: 37 The City will not consider disposing of its interest in an alley, in whole or in part, unless it receives a 38 petition in writing which demonstrates that the disposition satisfies at least one of the following policy 39 considerations: 40 A. Lack Of Use: The City's legal interest in the property appears of record or is reflected on an 41 applicable plat; however, it is evident from an on site inspection that the alley does not physically exist or 42 has been materially blocked in a way that renders it unusable as a public right-of-way; 43 B. Public Safety: The existence of the alley is substantially contributing to crime, unlawful activity, 44 unsafe conditions, public health problems, or blight in the surrounding area; 45 C. Urban Design: The continuation of the alley does not serve as a positive urban design element; or 46 D. Community Purpose: The petitioners are proposing to restrict the general public from use of the alley 47 in favor of a community use, such as a neighborhood play area or garden. 48 49 14.52.030: PROCESSING PETITIONS: 50 There will be three (3) phases for processing petitions to dispose of City owned alleys under this section. 51 Those phases include an administrative determination of completeness; a public hearing, including a 52 recommendation from the Planning Commission; and a public hearing before the City Council. 53 A. Administrative Determination Of Completeness: The City administration will determine whether or 54 not the petition is complete according to the following requirements: 55 1. The petition must bear the signatures of no less than seventy five percent (75%) of the neighbors 56 owning property which abuts the subject alley property; 57 2. The petition must identify which policy considerations discussed above support the petition; 58 3. The petition must affirm that written notice has been given to all owners of property located in the 59 block or blocks within which the subject alley property is located; 60 4. A signed statement that the applicant has met with and explained the proposal to the appropriate 61 community organization entitled to receive notice pursuant to title 2, chapter 2.60 of this Code; and 62 5. The appropriate City processing fee shown on the Salt Lake City consolidated fee schedule has 63 been paid. 64 B. Public Hearing And Recommendation From The Planning Commission: Upon receipt of a complete 65 petition, a public hearing shall be scheduled before the Planning Commission to consider the proposed 66 disposition of the City owned alley property. Following the conclusion of the public hearing, the Planning 67 Commission shall make a report and recommendation to the City Council on the proposed disposition of 68 the subject alley property. A positive recommendation should include an analysis of the following factors: 69 1. The City Police Department, Fire Department, Transportation Division, and all other relevant City 70 departments and divisions have no reasonable objection to the proposed disposition of the property; 71 2. The petition meets at least one of the policy considerations stated above; 72 3. Granting the petition will not deny sole access or required off street parking to any property 73 adjacent to the alley; 74 4. Granting the petition will not result in any property being landlocked; 75 5. Granting the petition will not result in a use of the alley property which is otherwise contrary to 76 the policies of the City, including applicable master plans and other adopted statements of policy which 77 address, but which are not limited to, mid block walkways, pedestrian paths, trails, and alternative 78 transportation uses; 79 V1 3 6. No opposing abutting property owner intends to build a garage requiring access from the property, 80 or has made application for a building permit, or if such a permit has been issued, construction has been 81 completed within twelve (12) months of issuance of the building permit; 82 7. The petition furthers the City preference for disposing of an entire alley, rather than a small 83 segment of it; and 84 8. The alley property is not necessary for actual or potential rear access to residences or for accessory 85 uses. 86 C. Public Hearing Before The City Council: Upon receipt of the report and recommendation from the 87 Planning Commission, the City Council will consider the proposed petition for disposition of the subject 88 alley property. After a public hearing to consider the matter, the City Council will make a decision on the 89 proposed petition based upon the factors identified above. 90 91 14.52.040: METHOD OF DISPOSITION: 92 If the City Council grants the petition, the City owned alley property will be disposed of as follows: 93 A. Low Density Residential Areas: If the alley property abuts properties which are zoned for low density 94 residential use, the alley will merely be vacated. For the purposes of this section, "low density residential 95 use" shall mean properties which are zoned for single-family, duplex or twin home residential uses. 96 B. High Density Residential Properties And Other Nonresidential Properties: If the alley abuts properties 97 which are zoned for high density residential use or other nonresidential uses, the alley will be closed and 98 abandoned, subject to payment to the City of the fair market value of that alley property, based upon the 99 value added to the abutting properties. 100 C. Mixed Zoning: If an alley abuts both low density residential properties and either high density 101 residential properties or nonresidential properties, those portions which abut the low density residential 102 properties shall be vacated, and the remainder shall be closed, abandoned and sold for fair market value. 103 104 14.52.050: PETITION FOR REVIEW: 105 Any party aggrieved by the decision of the City Council as to the disposition of City owned alley property 106 may file a petition for review of that decision within thirty (30) days after the City Council's decision 107 becomes final, in the 3rd District Court. 108 109 110 CHAPTER 14.52 DISPOSITION OF CITY OWNED RIGHTS OF WAY 111 SECTION: 112 14.52.010: Purpose 113 14.52.020: Applicability 114 14.52.030: Definitions 115 14.52.040: Application Requirements 116 14.52.050: Process to Close or Vacate City Owned Rights of Way 117 14.52.060: Factors for Closing or Vacating City Owned Rights of Way 118 14.52.070: Disposing of Vacated City Owned Rights of Way 119 14.52.080: Closures 120 14.52.090: Appeals 121 122 123 14.52.010: PURPOSE: 124 125 The purpose of this chapter is to establish a process for the city council to decide if a city owned right of 126 way should be closed or vacated. The decision to close or vacate a city owned right of way is at the 127 discretion of the city council. 128 129 130 V1 4 14.52.020: APPLICABILITY: 131 132 A. This chapter applies to any petition to close or vacate city owned rights of way. 133 134 B. Petitions that request to close or vacate a public street located within a platted subdivision are also 135 subject to the subdivision amendment process in Title 20. 136 137 138 14.52.030: DEFINITIONS: 139 140 A. The following definitions apply to the terms found in this chapter. 141 142 1. Alley: A public way within a block primarily intended for service and access to abutting 143 property by vehicles. An alley is not designed for general travel and not used to certify property 144 addresses. 145 146 2. City Owned: A right of way that is subject to the jurisdiction of Salt Lake City. 147 148 3. Closure: The act of eliminating the thoroughfare nature or passageway access of the general 149 public to a city owned right of way, while retaining public ownership of the property. 150 151 4. Rights of Way: A public thoroughfare, regardless of the name, that is dedicated to the city 152 including streets, alleys, roads, highways, paths, and other land that are owned and managed by a 153 government entity. 154 155 5. Street: A vehicular way which may also serve for all or part of its width as a way for pedestrian 156 traffic, whether called street, highway, thoroughfare, parkway, throughway, road, avenue, 157 boulevard, lane, place, alley, mall or otherwise designated. 158 159 5. Vacation: The act of eliminating, in full or in part, city ownership of a right of way. 160 161 162 14.52.040: APPLICATION REQUIREMENTS: 163 164 A. Eligibility to Apply: 165 166 1. The mayor may initiate a petition to close or vacate a city owned right of way by signature on a 167 document that includes the purpose for the closure or vacation and describing the specific 168 location. 169 170 2. The city council may initiate a petition to close or vacate a city owned right of way by adopting 171 a legislative intent. 172 173 3. A property owner who owns land that abuts a public right of way may request to close or 174 vacate a city owned right of way by submitting a petition and all application materials as provided 175 for in this chapter. 176 177 B. Petition Requirements: 178 179 1. A petition submitted by a property owner that is not the city council or the mayor shall include 180 the following information: 181 V1 5 182 a. A completed application on a form provided by the planning director. 183 184 b. The signatures of at least 75% of the property owners owning property that abut the portion 185 of the right of way that is proposed to be closed or vacated. 186 187 c. A written description of the purpose and reasons for the proposed closure or vacation. 188 189 d. A signed affidavit from the applicant that (1) all owners abutting the right of way have 190 received a written notice of the applicant’s desire to close or vacate the right of way, and (2) 191 all operators of utilities located within the bounds of the right of way have received a written 192 notice of the applicant’s desire to close or vacate the right of way. 193 194 e. A description of any existing structure that may be located within the right of way, 195 including the address of the abutting property where the structure may be located. 196 197 f. A map of the proposed right of way that is subject to the closure or vacation that includes 198 the dimensions of the approximate width, length, and area of the proposal. 199 200 g. A written explanation of how the proposed closure or vacation aligns with the factors in 201 14.52.050. 202 203 h. All required fees as outlined in the consolidated fee schedule. 204 205 2. If a petition is initiated by the mayor or the city council, then such petition shall identify the 206 department that will submit to the planning director: 207 208 a. The name and address of each owner of record of land that is adjacent to the right of way 209 that is to be closed or vacated or accessed exclusively by or within 300 feet of the right of 210 way. 211 212 b. Proof of written notice to operators of utilities located within the bounds of the right of 213 way sought to be vacated or closed. 214 215 c. The signature of each owner of record identified in subsection 2a that consents to the 216 vacation or closure. 217 218 219 14.52.050: PROCESS TO CLOSE OR VACATE CITY OWNED RIGHTS OF WAY: 220 221 A. Application Submittal: The petition shall be submitted to the planning director. After receiving the 222 petition, the planning director shall determine if the application is complete. An application may only 223 be deemed complete if all petition requirements have been submitted and fees paid. 224 225 B. Incomplete Applications: A petitioner who fails to provide all the required information that is 226 necessary to start a comprehensive, substantive review of the application will be provided with one 227 written notice of missing submittal requirements. The notice shall itemize each item that is missing, 228 including the citation from this code and provide a deadline of 30 days to provide the missing 229 information. If a petitioner fails to submit the information or fails to negotiate a different deadline to 230 submit the information, the petition may be considered withdrawn and closed. 231 232 V1 6 C. Public Engagement Period: All petitions to close or vacate a city owned right of way shall be 233 subject to the public engagement requirements in 21A.10. 234 235 D. Public Hearing: If the planning commission holds a public hearing prior to making a 236 recommendation on the matter to the city council, notice of the public hearing shall be subject to the 237 public hearing requirements in 21A.10. Notice shall also be provided to the Utah Department of 238 Transportation as required in Utah Code 72-5-105(5)(b). 239 240 1. A public hearing shall be held by the planning commission if, after review by the relevant city 241 departments and the general public, any concerns or objections are raised based on the factors 242 described in 14.52.060. 243 244 2. The request is exempt from a public hearing and recommendation from the planning 245 commission if, after review by the relevant city departments and the general public, no concerns 246 or objections are raised related to the factors described in 14.52.060. In such case, the request 247 shall proceed in accordance with 14.52.050.E with a recommendation from the planning director. 248 249 E. Planning Commission Recommendation: After a public hearing, the planning commission shall 250 forward a recommendation to the city council regarding the proposed closure or vacation. The 251 recommendation shall be based on the applicable factors listed in this chapter and the evidence, or 252 lack of evidence, presented to the planning commission. The planning commission may recommend 253 approval, approval with modifications or conditions, or denial of the petition. If the planning 254 commission does not act within 90 days of the public hearing, the recommendation shall be 255 considered a denial and forwarded to the city council for decision. 256 257 F. City Council Public Hearing: The city council shall hold a public hearing before deciding on a 258 petition to close or vacate a city owned right of way. The public hearing shall be noticed in the same 259 manner as described in 14.52.040.C. After a public hearing is held, the city council may approve, 260 approve with modifications or conditions, or deny the petition. 261 262 G. Exceptions: 263 264 1. The provisions of this section are not required if the city is closing or vacating a right of way in 265 accordance with Utah Code that exempts the petitioner from the process herein. 266 267 268 14.52.060: FACTORS FOR CLOSING OR VACATING CITY OWNED RIGHTS OF WAY: 269 270 The following factors should be considered when deciding a petition to close or vacate a city owned right 271 of way. A decision to close or vacate a city owned right of way is a matter committed to the legislative 272 discretion of the city council and is not controlled by any one factor and not all factors will be applicable 273 to every petition. 274 275 A. Lack Of Use: The city's legal interest in the property appears of record or is reflected on an 276 applicable plat; however, it is evident from an on site inspection that the right-of-way does not 277 physically exist for the purpose of providing access. When determining if lack of use exists, the city 278 should consider: 279 280 1. The lack of evidence of physical use. A gate, fence, or other similar obstruction installed to 281 prevent access to the right of way that has been installed without approval from the city should 282 not be considered evidence of lack of use; 283 V1 7 284 2. Evidence that the right of way never functioned to provide access to properties that abut the285 right of way; 286 287 3. The presence of accessory buildings, mature trees, or other similar items that can be readily288 identifiable from photographs, aerial or satellite images, or other records that demonstrate the 289 item has been within the boundaries of the right of way prior to April 12, 1995. 290 291 B. Public Safety:292 293 1. The existence of the right of way is substantially contributing to crime, unlawful activity,294 unsafe conditions, public health problems, or blight in the surrounding area. 295 296 2. A closure or vacation will not have a detrimental impact on the ability to provide emergency297 access to the right of way or properties abutting the right of way; 298 299 C. Community Purpose: The petitioners are proposing to convert the purpose of the alley in favor of300 a community use, such as a neighborhood play area or garden; 301 302 D. Impact on General Plan: The proposed closure or vacation does not negatively impact connectivity303 for future development that may occur based on the general plan as defined in Title 19. For this 304 factor, the following may be considered: 305 306 1. The closure or vacation does not impact any future active transportation project by requiring307 new drive approaches on a public street that would result in increased conflict points with the 308 active transportation infrastructure or limits the ability of the city to install active transportation 309 infrastructure. 310 311 2. The closure or vacation reduces the ability to use the city owned right of way to improve312 overall connectivity in the vicinity based on the scale and intensity of future land use identified in 313 the general plan. 314 315 3. If the right of way is specifically identified in the general plan on a map or with policies that316 indicate the right of way should be used for current or future connectivity, including a midblock 317 walkway, pedestrian path, trail, service area, access to parking, or alternative transportation uses. 318 319 4. The closure or vacation will not jeopardize the ability to implement any policy, action, or any320 aspect of the adopted general plan. 321 322 5. The closure or vacation will not result in a dead end or cul-de-sac in area where street323 connectivity is identified in a general plan or when continuing the street promotes access to 324 property for future development identified on the applicable future land use map. 325 326 E. Impact to Property: The proposed closure or vacation will not result in a parcel or lot being327 deprived of access or landlocked or impact any development plans or permits on properties that 328 intend to use the right of way for accessing private property. 329 330 F. Public Utilities: If the right of way is considered essential for the location of future public utilities,331 or the right-of-way is required for access to public utility infrastructure, legally binding agreement(s) 332 that preserve such space and access have or will be provided prior to disposition. The agreement(s) 333 should ensure operations, maintenance (including replacement or upgrading of the infrastructure), and 334 V1 8 access to the infrastructure. Agreements should also ensure emergency access to make repairs to any 335 infrastructure within the right of way. 336 337 G . Dimensions: The existing dimensions of the right of way are not necessary to provide safe and 338 reasonable public access and reducing the size of the right of way is consistent with the other listed 339 factors. 340 341 342 14.52.070: DISPOSING OF VACATED CITY OWNED RIGHTS OF WAY : 343 344 A. If a vacation of a city owned right of way is approved by the city council, the area vacated shall be 345 disposed of according to the following: 346 347 1. If the right of way was created by a recorded subdivision, the vacated right of way shall be split 348 down the centerline with each side of the right of way vesting to the adjoining owner of record. 349 350 2. If the right of way was created by a recorded subdivision but not all abutting properties are 351 within the boundaries of the recorded subdivision that the right of way is, the vacated right of way 352 shall be consolidated into the abutting properties that are within the boundaries of the recorded 353 subdivision. 354 355 3. If the right of way is not part of a recorded subdivision, the vacated right of way shall be split 356 down the centerline with each side of the right of way vesting to the adjoining owner of record 357 except where prescribed by Utah State Code. 358 359 4. For vacations proposed by the city, the vacated land may be converted to a lot(s) or parcel(s) 360 for future development. 361 362 5. If the right of way is partially vacated, the vacated portion may be combined with properties on 363 one side of the right of way, both sides of the property, or may create a new lot or parcel. 364 365 6. Notwithstanding the above, the area may be disposed of in any other configuration authorized 366 by Utah law. 367 368 B. Payment Required: Payment to the city shall be required prior to the disposition of the associated 369 vacated area in the following circumstances: 370 371 1. Vacation Adjacent to High Density Residential Properties and Other Nonresidential Properties: 372 If the right of way abuts properties which are designated as having any other future land use 373 designation other than low density residential as described in 14.52.070.C.1, the right of way will 374 be vacated, subject to payment to the city of the fair market value of that right of way property, 375 based upon the value added to the abutting properties. 376 377 2. Vacation Adjacent to Mixed Zoning: If a right of way abuts both low density residential 378 properties as defined in 14.52.070.C.1 and any other future land use designation, those portions 379 which abut the low density residential properties shall be vacated without requiring payment, and 380 the remainder shall be vacated and sold for fair market value. 381 382 C. Payment Not Required: Payment to the city shall not be required prior to the disposition of the 383 associated vacated area in the following circumstances: 384 385 V1 9 1. Vacation Adjacent to Low Density Residential Areas: If the right of way property abuts386 properties which are designated on an adopted future land use map that is part of the adopted 387 general plan as having a future density of less than 25 dwelling units per acre, the right of way 388 will merely be vacated without requiring payment. 389 390 2. Exchanges: The city may agree to a land transfer of the right of way area that is subject to a391 proposed vacation with other land that serves a public purpose or provides a public benefit as 392 determined by the city council. 393 394 395 14.52.080: CLOSURES: 396 397 A.Public Purpose: The city may choose to close the right of way and maintain the use of the land for398 another public purpose as authorized by applicable state code. 399 400 B. Private Purpose: Closure sought by a private property owner may be subject to a lease or401 development agreement to reflect the maintenance responsibilities for the property. 402 403 404 14.52.090: APPEALS: 405 406 Any party aggrieved by a final decision of the city council as to the closure or vacation of city owned 407 rights of way may file a petition for review of that decision with the district court within 30 days after the 408 city council's decision becomes final. 409 410 411 3. Amends Subsection 20.16.050.B as follows: 412 413 B. A subdivision application that includes closing or vacating a public street, alley, or other right414 of way or vacating an easement that the city has a right to, shall be decided by the city council415 after receiving a recommendation from the planning commission or the planning director if no416 public hearing by the planning commission is required. The process shall be in accordance with417 the requirements of Chapter 21A.10 and shall comply with all other applicable requirements of418 14.52.419 420 4. Effective Date. This ordinance shall become effective on the date of its first publication. 421 2.PROJECT CHRONOLOGY Project Chronology Petition: PLNPCM2025-00423 organizations. Webpage. Public comment period ended June 23, 2025. Council. to the listserv. hearing. The Commission voted 6-0 in favor of forwarding a recommendation of approval with a modification. 2026 Ordinance received from the City Attorney’s office. 3. NOTICE OF CITY COUNCIL PUBLIC HEARING NOTICE OF CITY COUNCIL HEARING The Salt Lake City Council is considering Petition PLNPCM2025-00423 – the Salt Lake City Planning Commission unanimously voted to initiate a text amendment to modify Chapter 14.52. The purpose of the amendment is to a include all city-owned rights-of-way (streets, alleys, etc.), as well as updating the policies and standards that must be adhered to. (Staff Contact: Ben Buckley, 801-535-7142, benjamin.buckley@slc.gov.) As part of their study, the City Council is holding an advertised public hearing to receive comments regarding the petition. During the hearing, anyone desiring to address the City Council concerning this issue will be given an opportunity to speak. The Council may consider adopting the ordinance the same night of the public hearing. The hearing will be held: DATE: TIME: 7:00 pm PLACE: Electronic and in-person options. 451 South State Street, Room 326, Salt Lake City, Utah ** This meeting will be held via electronic means, while also providing for an in-person that opportunity to attend or participate in the hearing at the City and County Building, located at 451 South State Street, Room 326, Salt Lake City, Utah. For more information, including WebEx connection information, please visit www.slc.gov/council/virtual-meetings. Comments may also be provided by calling the 24-Hour comment line at (801) 535-7654 or sending an email to council.comments@slcgov.com. All comments received through any source are shared with the Council and added to the public record. If you have any questions relating to this proposal or would like to review the file, please call Ben Buckley at 801-535-7142 between the hours of 8:00 a.m. and 5:00 p.m., Monday through Friday, or via e- mail at benjamin.buckley@slc.gov. The application details can be accessed at http://www.slcpermits.com, by selecting the “Planning” tab and entering the petition number PLNPCM2025-00423. People with disabilities may make requests for reasonable accommodation, which may include alternate formats, interpreters, and other auxiliary aids and services. Please make requests at least two business days in advance. To make a request, please contact the City Council Office at council.comments@slcgov.com, (801)535-7600, or relay service 711. 4. PETITION TO INITIATE SALT LAKE CITY PLANNING COMMISSION MEETING City & County Building 451 South State Street, Room 326 Salt Lake City, Utah 84111 Wednesday, February 12, 2025 A roll is being kept of all who attended the Planning Commission Meeting. The meeting was called to order at approximately 5:30 p.m. Audio recordings of the Planning Commission meetings are retained for a period of time. These minutes are a summary of the meeting and not a verbatim transcript. A video recording of the meeting is available at www.youtube.com/slclivemeetings Present for the Planning Commission meeting were: Chair Aimee Burrows, Vice Chair Landon Kraczek, Commissioners Brian Scott, Amy Barry, Mike Christensen, and Bree Scheer. Commissioner McCall Christensen was absent from the meeting. Staff members present at the meeting were: Planning Director Nick Norris, Planning Manager Amy Thompson, Senior City Attorney Katherine Pasker, Senior Planner Cassie Younger, Principal Planner Rylee Hall, Senior Planner Aaron Barlow, and Office Facilitator Aubrey Clark. REPORT OF THE CHAIR AND VICE CHAIR They had nothing to report. REPORT OF THE DIRECTOR Planning Director Nick Norris reported on delays to the R1 options with City Council and that there may be bills presented to the legislature that could impact the City. He also reported that recommendations were made to the Mayor’s Office for the open D3 commission seat and stated that all items will be updated as soon as information is available at the next commission meeting. OPEN FORUM No one had items to discuss. CONSENT AGENDA 1. Planned Development for Brix on Tenth at Approximately 1549 S 1000 W (Public Hearing) – Paul Garbett, representing the property owner, is requesting approval for a Planned Development to develop 46 energy-efficient for-sale townhomes at the following properties: 1549, 1551, 1567 S 1000 W, and 1544, 1550 S 900 W. The land is currently vacant, and the property is zoned RMF-30 (Low Density Multi-Family Residential). The requested modifications through this process include 4.5' of additional height, second- story balconies encroaching into side yards, reduced transparency on interior facades, and garage doors parallel to the street. The subject property is within Council District 2, represented by Alejandro Puy. (Staff Contact: Cassie Younger at 801-535-6211or cassie.younger@slcgov.com) Case Number: PLNPCM2024-01202 2. Approval of the Meeting Minutes for December 11, 2024, and January 8 and 22, 2025 Chair Burrows opened the public hearing. Public Hearing Seeing that no one wished to speak, the Chair closed the public hearing. Motion Commissioner Mike Christensen motion to approve the Consent Agenda. Commissioner Scott seconded the motion. Vote: • Yes: Kraczek, Scott, Barry, Mike Christensen, Scheer, Burrows The motion passed REGULAR AGENDA 3. Planned Development and Preliminary Subdivision at Approximately 825 W Hoyt Place - Drake Powell, the property owner, is requesting Planned Development approval to facilitate a townhome development with 2 buildings, each containing 6 single-family attached units, located at the above listed address. The subject property is currently vacant and zoned SR-3 Special Development Pattern Residential District. a. Planned Development: The requested modifications through this process include buildings and lots without frontage on a public street, a reduction to the required rear yard setback, and a modification to the maximum allowed drive approach width. Case Number: PLNPCM2024-01095 b. Preliminary Plat: A preliminary plat is required to subdivide the property and may only be approved if the requested modifications are approved. Case Number: PLNSUB2024-01209 The subject property is located in Council District 2, represented by Alejandro Puy. (Staff contact: Rylee Hall at 801-535-6308 or rylee.hall@slc.gov) Principal Planner Rylee Hall review the petition. She stated that Staff recommends approval of the project. The applicant Drake Powell did not have a presentation to give. Public Hearing Chair Burrows opened the public hearing. Seeing that no one wished to speak, the Chair closed the public hearing. Executive Session The Commission and Staff did not have anything to discuss. Motion for PLNPCM2024-01095: Commissioner Scheer moved, “Based on the information presented and the discussion, I move that the commission approve this Planned Development application as recommended by staff.” Commissioner Mike Christensen seconded the motion. Commissioner Barry offered a friendly amendment to add a condition to include a fence on the south side of the property. Commissioner Scheer approve the amendment. Vote • Yes: Barry, Kraczik, Mike Christensen, Scheer, Scott, Burrows The motion passed. Motion for PLNSUB2024-01209: Commissioner Mike Christensen moved, “Based in the information presented and the discussion, I move that the Commission approve this Preliminary Subdivision as recommended by staff.” Commissioner Kraczek seconded the motion. Vote • Yes: Barry, Kraczik, Mike Christensen, Scheer, Scott, Burrows The motion passed. WORK SESSION 4. RMF-35 & RMF-45 Multi-Family Zoning District Merger - The Planning Commission will be briefed on the proposal to merge the RMF-35 Moderate Density Multi-Family Residential District and the RMF-45 Moderate/High Density Multi-Family Residential District into a single updated RMF-45 Moderate Density Multi-family District.. This proposal is meant to enable the development of compatible infill housing within the City's moderate-density neighborhoods. The briefing will include an overview of the proposed district and changes to associated regulations. (Staff contact: Aaron Barlow at 801-535-6182 or aaron.barlow@slc.gov) Case Number: PLNPCM2024-01388 Senior Planner Aaron Barlow and Principal Planner Katilynn Warr reviewed the proposed. They discussed: o missing middle housing types o standards o bonus unit incentives o parking o different types of development options o new incentives The Commissioner and Staff discussed: o potential housing types o design standards o concerns with the proposal OTHER BUSINESS 5. City Code Amendment Initiation - The Planning Commission will consider initiating the following amendments to city code: 1. Amending the allowed fence height for fences located in a front yard or corner side for properties in manufacturing zoning districts. Other related fence regulations in manufacturing zones may also be amended as part of this initiation. The initiation will consider increasing the allowed fence height when the fence is located at the front or corner side yard setback line and for fences next to side property lines. 2. Amending the factors to consider associated with petitions to close or vacate a public alley. The amendment would consider all the existing factors, specifically if public access to the alley has been blocked without approval and if the closure or alley may impact the future development of the property and public circulation. Other factors may also be modified by this initiation. Planning Director Nick Norris reviewed the proposed text amendments. Staff and the Commission discussed the proposals. Motion Commissioner Barry moved, “I move that the Commission initiate text amendments that would modify the policy considerations found in city code 14.52 and any other provision in chapter 14.52 necessary for adequate review of petitions to close or vacate public right of way. I also move that the Commission initiate a separate petition to amend the fence height regulations in the manufacturing zones.” Commissioner Mike Christensen seconded the motion. Vote • Yes: Barry, Kraczik, Mike Christensen, Scheer, Scott, Burrows The motion passed. The meeting adjourned at approximately 7:15 PM For Planning Commission agendas, staff reports, and minutes, visit the Planning Division’s website at slc.gov/planning/public- meetings. Staff Reports will be posted the Friday prior to the meeting and minutes will be posted two days after they are ratified, which usually occurs at the next regularly scheduled meeting of the Planning Commission. This page has intentionally been left blank CITY COUNCIL OF SALT LAKE CITY 451 SOUTH STATE STREET, ROOM 304 P.O. BOX 145476, SALT LAKE CITY, UTAH 84114-5476 SLCCOUNCIL.COM TEL 801-535-7600 FAX 801-535-7651 COUNCIL STAFF REPORT CITY COUNCIL of SALT LAKE CITY TO:City Council Members FROM: Kate Werrett Budget & Policy Analyst DATE:February 3, 2026 RE:Rio Grande Master Plan and Zoning Map Amendment ISSUE AT-A-GLANCE The Council will receive a briefing about a proposal to amend the zoning for 32 properties located in the Rio Grande District, between 200 South and 400 South, and 500 West and 600 West, from G-MU (Gateway-Mixed Use District) to D-4 (Downtown Secondary Central Business District). The proposal would allow for additional building height and amend the Downtown Plan to include the mid-block walkways within the Rio Grande District and update the Implementation Plan. On December 10, 2024, the City Council, acting as the Community Reinvestment Board (CRA), endorsed the Rio Grande District Vision and Implementation Plan. This master plan and zoning map amendment, initiated by the CRA, incorporates the district plan changes into the City’s Downtown Plan and zoning map. Goal of the briefing: Review the proposed plan and zoning map amendment and determine if the Council supports moving forward with the proposal. The Council will then hold a public hearing and consider adopting these changes at a future meeting. POLICY QUESTIONS 1. The Council may wish to ask how these General Plan and zoning changes will be implemented over time. 2. The Council may wish to discuss any fiscal or operational impacts to the City associated with adopting these changes. ADDITIONAL & BACKGROUND INFORMATION The following summarizes the specific updates and clarifications proposed to the City’s Downtown Plan and zoning map: Project Timeline: 1st Briefing: February 3, 2026 Set Date: February 17, 2026 Public Hearing: March 10, 2026 Tentative Action: March 24, 2026 Page | 2 General Plan Amendment - General Plan amendment updating portions of the Downtown Plan associated with the Rio Grande District area. Updates include changes to midblock walkway locations. - 35 parcels to be rezoned from Gateway Mixed Use (GMU) to Secondary Downtown Zone (D4). The impacted parcels are owned by the CRA or the University of Utah. - These properties would have significant additional height if rezoned. - Gateway Mixed-Use has a maximum height of 180’ and anything over 90’ must go through design review. D-4 allows 200’ by right and up to 600’ with can be authorized through the Design Review process outlined in 21A.59. - The design review process outlines a process and standards that are intended to ensure larger developments are “compatible with their surroundings, impacts to public infrastructure and public spaces are addressed, and that new development helps achieve development goals outlined in the adopted master plans of the city as identified in the purpose statements of each zoning district.” (21A.59.010: Purpose Statement) - Planning staff determined that the recommended modifications are consistent with the City's goals, objectives, and policies. At their October 22, 2025 meeting, the Planning Commission voted unanimously to forward a positive recommendation to the City Council. • November 10, 2022: The RDA Board adopted a resolution for FY2022-2023 RDA Budget Amendment 2 to provide funds for a consultant to develop a planning and implementation strategy for 15 acres of RDA-owned property in the Depot District Project Area. • December 10, 2024: CRA Board endorsed the RDA’s utilization of the Rio Grande District Vision and Implementation Plan. • February 26, 2025: Petition for zoning map and general plan amendment received by the Planning Division. • March 15, 2025: Property owners and residents within 300 feet of the development were provided early notification of the proposal. • March 17, 2025: The Downtown Community Council and Granary District Alliance were sent the 45- day required notice for recognized community organizations. • March 18, 2025: Early notification signs were posted on the subject properties every 500 ft. by the applicant. • March 2025 – Present: The project was posted to the Online Open House webpage. • October 22, 2025: Planning Commission briefing and public hearing. The Commission voted unanimously to forward a positive recommendation to the City Council. • December 24, 2025: Transmittal received in City Council Office. 1) Administrative Transmittal: Rio Grande Master Plan and Zoning Map Amendment 2) Impacted Existing Documents: a)Salt Lake City Downtown Plan b)Salt Lake City Zoning Map Salt Lake City // Planning Division www.slc.gov/planning City Council briefing February 3, 2026 PLNPCM2025-00180 & 00181 RIO GRANDE GENERAL PLAN & ZONING MAP AMENDMENT Salt Lake City //Planning Division 1.General Plan Amendment to update portions of the Downtown Plan 2.Zoning Map Amendment to rezone 32 parcels from GMU Gateway Mixed Use to D-4 Secondary Central Business District REQUEST Salt Lake City //Planning Division www.slc.gov/planning EXISTING CONDITIONS Rio Grande Intermodal Hub Future USA Climbing Training Center Artspace 50 0 W 60 0 W 300 S 200 S 400 S <20 minute Walking distance to: •Gateway •Delta Center •Pioneer Park •Salt Palace Convention Center Salt Lake City // Planning Division www.slc.gov/planning GENERAL PLAN AMENDMENT Visual from the proposed Update “Rio Grande District” Current Catalytic Project featured in the Downtown Plan Salt Lake City // Planning Division www.slc.gov/planning MID BLOCK WALKWAYS Existing Midblock Walkway Plan Proposed Midblock Walkway Plan Salt Lake City // Planning Division www.slc.gov/planning ZONING MAP AMENDMENT •32 parcels within Rio Grande Area •Owned by CRA or University of Utah •From GMU to D-4 Salt Lake City // Planning Division www.slc.gov/planning COMPARISON OF GMU & D-4 Zoning Standard GMU D-4 Height Minimum 75’ Design Review over 90’ Maximum 180’ By right up to 200’ 200 through 600’ with DR and D4 Standards Maximum 600’ Fron/ Corner Setbacks Max 10’, Min 10’ for residential 0 Minimum, 8’ maximum Design Standards Identical, except the following: Glass: Upper floors 40 50 Budling entrance (feet between) 40 60 Maximum Blank wall 15 20 Lighting: parking lot X Salt Lake City // Planning Division www.slc.gov/planning D-4 STANDARDS OVER 200’: Buildings from 200’ to 600’, through Design Review process: Shall include a minimum stepback of five feet (5’) …Located above the first floor and below one hundred twenty feet (120’) The building includes at least one of the following options: 1.Midblock walkway is provided on the property. …and exceeds all the required dimensions by at least five feet; 2.The building is utilizing affordable housing incentives 3.The requirement for enhanced active ground floor uses must be increased to 100% 4.The applicant provides a restrictive covenant on a historic building, a building that is fifty (50) years or older, or a building that is a nationally recognized property, located outside of the H Historic Preservation Overlay District for the purpose of preserving the structure for a minimum of fifty (50) years; or 5.The proposal includes a privately owned, publicly accessible open space on the property or on another property within the geographic boundaries of the Downtown Plan. Salt Lake City // Planning Division www.slc.gov/planning STANDARDS FOR ZONING & PLAN AMENDMENTS •No Community Benefit is required for City- initiated Petitions •Consistent with purposes, goals objectives and polices of the city including the Downtown Plan and Plan Salt Lake •Furthers the purpose statement of the ordinance •Status of existing transportation facilities, and the impact that the proposed amendment may have on the city’s transportation improvements •The extent to which it will affect nearby properties due to development potential •Public Safety impacts created by development potential Salt Lake City // Planning Division www.slc.gov/planning RECOMMENDATION The Planning Commission forwarded a unanimous positive recommendation to the City Council on October 22, 2025 Salt Lake City // Planning Division www.slc.gov/planning Cassie Younger RIO GRANDE DISTRICT Salt Lake Central Station Historic Rio Grande Depot Central Business District Pioneer Park The Gateway Pitt Street Pedestrian Mall - Sydney, Australia Plan Implementation – Next Steps •Housing and Transit Reinvestment Zone (HTRZ) •USA Climbing •Zoning Amendment •Public Improvements •Developer Solicitation WEBSITE cra.slc.gov/home/riograndedistrict/ To: Salt Lake City Council Chair Submission Date: 12/19/2025 Date Sent to Council: 12/24/2025 From: Department * Community and Neighborhood Employee Name: Younger, Cassie E-mail Cassie.Younger@slc.gov Department Director Signature Chief Administrator Officer's Signature Director Signed Date 12/23/2025 Chief Administrator Officer's Signed Date 12/24/2025 Subject: Rio Grande Zoning Map and Master Plan Amendment Additional Staff Contact: Presenters/Staff Table Cassie Younger, cassie.younger@slc.gov Kelsey Lindquist, Kelsey.Lindquist@slc.gov Document Type Ordinance Budget Impact? Yes No Recommendation: Positive recommendation to the City Council Background/Discussion See ﬁrst attachment for Background/Discussion Public Hearing Is there a City or State statutory requirement to hold a public hearing for this item? * Yes No The City Council reserves the option to hold and notice for a public hearing pursuant to their practices for public engagement. Does the City have a general practice to hold a public hearing for this item? * SALT LAKE CITY TRANSMITTAL Yes No Public Process The following is a list of public meetings that have been held and other public input opportunities related to the proposed project since the applications were submitted: •March 17, 2025 – The Downtown Community Council and Granary District Alliance were sent the 45 day required notice for recognized community organizations. Neither community council provided comments. •March 15, 2025 - Property owners and residents within 300 feet of the development were provided early notiﬁcation of the proposal. •March 18, 2025 – Early notiﬁcation signs were posted on the subject properties every 500’ by the applicant •March - present – The project was posted to the Online Open House webpage. Notice of the public hearing for the proposal included: •October 9, 2025 - Public hearing notice mailed -Public notice posted on City and State websites and Planning Division list serve •October 10, 2025 -Public hearing notice sign posted on the property every 500’ This page has intentionally been left blank ERIN MENDENHALL DEPARTMENT of COMMUNITY Mayor and NEIGHBORHOODS Tammy Hunsaker Director CITY COUNCIL TRANSMITTAL BACKGROUND/DISCUSSION: The CRA, on behalf of Mayor Mendenhall, has initiated a petition to update the Downtown Plan and amend the Zoning Map of Salt Lake City to better align with recommendations of the recently completed Rio Grande District Vision & Implementation Plan. The Rio Grande Vision & Implementation Plan was completed by the Community Reinvestment Agency and charts the course for creating an urban, transit-oriented neighborhood adjacent to the Salt Lake Central Station transit hub in west downtown. The General Plan Amendment The proposed General Plan Amendment of the Downtown Plan updates the Plan's Depot District “Catalytic project”, currently a Hub Implementation Plan (found on page 106 of the Downtown Plan), and replaces it with the “Rio Grande District.” Additionally, the CRA is seeking to replace the descriptive language for the “Catalytic project.” While many of the concepts remain the same between the two Catalytic Projects, the updated language is based on the Rio Grande Visualization and Implementation Plan, which was approved by the CRA Board in 2024. Both projects prioritize transit-oriented development, walkable blocks, and utilizing 300 South as a Festival Street. The updated Rio Grande District plan further details the visualization of the two blocks, a further emphasis in sustainability, Green Loop incorporation, an Arts Campus, and high-quality urban design. The application also amends the location of the midblock walkways as shown on page 99 of the Downtown Plan. The proposed midblock walkways will be modified to reflect those shown in the Rio Grande Implementation plan. The current and proposed walkways are also shown in the maps below. The SALT LAKE CITY CORPORATION 451 SOUTH STATE STREET, ROOM 404 WWW.SLC.GOV P.O. BOX 145486, SALT LAKE CITY, UTAH 84114-5486 TEL 801.535.6230 FAX 801.535.6005 amendments to the walkways include creating an additional connection to Eccles Ave, the creation of Pierpont Ave on the north block, and straightening the connection on the south block to better align with property lines and future development. The CRA is the primary property owner within or adjacent to these walkway adjustments and finds the proposed alignments more realistic for future development. Zoning Map Amendment There are 32 properties in the proposed rezone, owned by the CRA and the University of Utah. They are all currently zoned GMU (Gateway Mixed Use) and are proposed to become D4 (Downtown Secondary Central Business District). These zones are very similar in many respects, but the primary purpose of the rezone is for additional building height. The permitted height in the GMU District is 90’ with 180’ allowed with Design Review. Under the D4, the by-right height would be permitted at 200’ with up to 600’ with Design Review. PUBLIC PROCESS: The following is a list of public meetings that have been held and other public input opportunities related to the proposed project since the applications were submitted: • March 17, 2025 – The Downtown Community Council and Granary District Alliance were sent the 45 day required notice for recognized community organizations. Neither community council provided comments. • March 15, 2025 - Property owners and residents within 300 feet of the development were provided early notification of the proposal. • March 18, 2025 – Early notification signs were posted on the subject properties every 500’ by the applicant • March - present – The project was posted to the Online Open House webpage. Notice of the public hearing for the proposal included: • October 9, 2025 o Public hearing notice mailed o Public notice posted on City and State websites and Planning Division list serve • October 10, 2025 o Public hearing notice sign posted on the property every 500’ Planning Commission (PC) Records a) PC Agenda of October 22, 2025 b) PC Minutes of October 22, 2025 c) Planning Commission Staff Report of October 22, 2025 EXHIBITS: 1) Ordinance 2) Project Chronology 3) Notice of City Council Public Hearing 4) Original Petition 5) Public Comments 6) Mailing List This page has intentionally been left blank 1 SALT LAKE CITY ORDINANCE No. of 2025 (Amending the zoning map to rezone multiple parcels located in the Rio Grande District from G- MU Gateway-Mixed Use District to D-4 Downtown Secondary Central Business District) An ordinance amending the zoning map pertaining to multiple parcels located approximately between 200 S and 400 S, and 500 W and 600 W from G-MU Gateway-Mixed Use District to D-4 Downtown Secondary Central Business District pursuant to petition numbers PLNPCM2025-00180 and PLNPCM2025-00181. WHEREAS, Mayor Mendenhall initiated an application to rezone multiple parcels of property located in the Rio Grande District identified on Exhibit “A” (the “Property”) from G- MU Gateway-Mixed Use District to D-4 Downtown Secondary Central Business District; and WHEREAS, at its October 22, 2025 meeting, the Salt Lake City Planning Commission held a public hearing and voted in favor of forwarding a positive recommendation to the Salt Lake City Council on the application; and WHEREAS, after a public hearing on this matter, the city council has determined that adopting this ordinance is in the city’s best interests. NOW, THEREFORE, be it ordained by the City Council of Salt Lake City, Utah: SECTION 1. Amending the Zoning Map. The Salt Lake City Zoning District Map, as adopted by the Salt Lake City Code, relating to the fixing of boundaries and zoning districts, shall be and hereby is amended to reflect that the Property identified on Exhibit “A”, attached 2 hereto, are rezoned from G-MU Gateway-Mixed Use District to D-4 Downtown Secondary Central Business District. SECTION 2. Effective Date. This ordinance shall become effective on the date of its first publication. Passed by the City Council of Salt Lake City, Utah, this day of , 2026. CHAIRPERSON ATTEST AND COUNTERSIGN: CITY RECORDER Transmitted to Mayor on . Mayor's Action: Approved. Vetoed. MAYOR CITY RECORDER (SEAL) Bill No. of 2026 Published: . Ordinance Rezoning Parcels in Rio Grande District (final)_v1 APPROVED AS TO FORM Salt Lake City Attorney’s Office Date: 12/19/2025 By: Courtney Lords, Senior City Attorney 3 Exhibit “A” The Salt Lake City Zoning District Map, as adopted by the Salt Lake City Code, relating to the fixing of boundaries and zoning districts, shall be and hereby is amended to reflect that the following Properties, in their entirety, identified below are rezoned from G-MU Gateway-Mixed Use District to D-4 Downtown Secondary Central Business District: Address Parcel ID 4 The Salt Lake City Zoning District Map, as adopted by the Salt Lake City Code, relating to the fixing of boundaries and zoning districts, shall be and hereby is amended to reflect that the portion of the Property identified and described below is rezoned from G-MU Gateway-Mixed Use District to D-4 Downtown Secondary Central Business District: 549 W 300 S, Parcel ID 15-01-153-013-0000: - A Portion of the area along 300 South Closed by Ordinance 26 of 2014, Block 46, Plat A, Salt Lake City Survey more particularly described as follows: Beginning at a point on the westerly right of way of 500 West Street; said point being South 89°46’58” East, along the monument line 34.89 feet to a point at the intersection of 500 West and 300 South Street and South 00°13’54” West, along the road centerline 44.30 feet and North 89°46’06” West, 63.97 feet from a found Street Monument at 500 West and 300 South Street (Basis of Bearing being South 89°46’58” East from the monuments at 600 West 300 South and 500 West 300 South, Salt Lake City, UT); and running thence South 00°13’54” West, along the westerly right of way line of 500 West Street 23.88 feet; thence North 89°47’07” West, 313.58 feet; thence North 00°14’07” East, 23.66 feet to a point on the southerly right of way of 300 South Street; thence South 89°49’31” East, along said southerly right of way 313.58 feet to the point of beginning. Contains: 7,454 Sq. Ft. or 0.17 Acres More or Less This page has intentionally been left blank P.O. BOX 145486, SALT LAKE CITY, UTAH 84114-5486 TEL 801.535.6230 FAX 801.535.6005 ERIN MENDENHALL DEPARTMENT of COMMUNITY Mayor and NEIGHBORHOODS Tammy Hunsaker Director PROJECT CHRONOLOGY Petition: PLNPCM2025-00180 & PLNPCM2025-00181 February 26, 2025 Petition for the zoning map and general plan amendment received by the Salt Lake City Planning Division. March 6, 2025 Petitions assigned to Cassie Younger, Senior Planner March 15, 2025 Staff sent an early notification announcement of the project to all residents and property owners living within 300 feet of the project site, providing information about the proposal and how to give public input on the project. March 17, 2025 Information about the proposal was sent to the Downtown Community Council and the Granary District Alliance in order to solicit public comments and start the 45-day Recognized Organization input and comment period. March 18, 2025 Early Engagement signs describing the proposal were posted every 500 feet along public street frontage by the applicant. Staff hosted an online Open House to solicit public comments on the proposal. The Online Open House period started on March 18, 2025. The page remains open for review and comments. May 20, 2025 The applicant notified Planning Staff that the petition should be put on hold while the CRA considers potential revisions to the request and master plan amendment language. September 10, 2025, The applicant provided Planning Staff with an updated Memo describing some small modifications to the request and notified the Staff to proceed with the application. October 9, 2025 Public notice posted on City and State websites and sent via the Planning list serve for the Planning Commission meeting of October 22, 2025. Public hearing notice mailed. October 10, 2025 Public hearing notice sign with project information and notice of the Planning Commission public hearing on October 22, 2025 was physically posted on the property every 500’. October 22, 2025 The Planning Commission held a public hearing for the items. The Planning Commission voted 8:0 to forward positive recommendations to the City Council. SALT LAKE CITY CORPORATION 451 SOUTH STATE STREET, ROOM 404 WWW.SLC.GOV This page has intentionally been left blank NOTICE OF PUBLIC HEARING The Salt Lake City Council is considering Petitions PLNPCM2025-00180 (General Plan Amendment) and PLNPCM2025-00181 (Zoning Map Amendment) The CRA, on behalf of the Mayor, has initiated a petition to update the Downtown Plan and amend the Zoning Map of Salt Lake City to better align with recommendations of the recently completed Rio Grande District Vision & Implementation Plan. The Vision & Implementation Plan was completed by the Community Reinvestment Agency and charts the course for creating an urban, transit-oriented neighborhood adjacent to the Salt Lake Central Station transit hub in west downtown. The Zoning Map Amendment rezones 32 properties within the Rio Grande District from GMU (Gateway Mixed Use) to D4 (Downtown Secondary Business District). The purpose of the zone change is to allow additional building height. The proposed changes to the Downtown Plan include amending the mid-block walkways within the Rio Grande area and updating the Implementation Plan. The subject property is located within Council District 2, represented by Alejandro Puy. As part of their study, the City Council is holding an advertised public hearing to receive comments regarding the petition. During the hearing, anyone desiring to address the City Council concerning this issue will be given an opportunity to speak. The Council may consider adopting the ordinance the same night as the public hearing. The hearing will be held: DATE: TIME: PLACE: Electronic and in-person options. 451 South State Street, Salt Lake City, Utah ** This meeting will be held via electronic means, while also providing for an in-person opportunity to attend or participate in the hearing at the City and County Building, located at 451 South State Street, Room 326, Salt Lake City, Utah. For more information, including WebEx connection information, please visit www.slc.gov/council/virtual-meetings. Comments may also be provided by calling the 24-Hour comment line at (801) 535-7654 or sending an email to council.comments@slc.gov. All comments received through any source are shared with the Council and added to the public record. If you have any questions relating to this proposal or would like to review the file, please contact Cassie Younger at 801-535-6211 or by e-mail at cassie.younger@slc.gov. The application details can be accessed at https://citizenportal.slc.gov, by selecting the “Planning” tab and entering the petition numbers PLNPCM2025-00180 and PLNPCM2025-00181. People with disabilities may make requests for reasonable accommodation no later than 48 hours in advance in order to participate in this hearing. Please make requests at least two business days in advance. To make a request, please contact the City Council Office at council.comments@slc.gov , 801-535-7600, or relay service 711. This page has intentionally been left blank RIO GRANDE DISTRICT Master Plan Amendment Zoning Map Amendment 2 TABLE OF CONTENTS OVERVIEW ........................................................................................................................................................ 3 DISTRICT CONTEXT........................................................................................................................................... 4 The Depot District ..................................................................................................................................... 4 The Rio Grande District............................................................................................................................. 5 The Rio Grande District Vision & Implementation Plan ....................................................................... 10 MASTER PLAN AMENDMENT ............................................................................................................................ 14 Standards for Master Plan Amendments............................................................................................... 17 ZONING MAP AMENDMENT ............................................................................................................................. 21 Standards for Zoning Map Amendments ............................................................................................... 26 List of Figures 2: Rio Grande District (aerial) ………………………………………………………………………………………. 5 3: Ownership ……………………………………………………………………………………………………………. 6 4: Ownership Table ……………………………………………………………………………………………………. 7 5: Zoning ………………………………………………………………………………………………………………….. 8 6: Mobility ………………………………………………………………………………………………………………… 9 7: Human Centered Public Realm Diagram …………………………………………………………………… 12 8: Mixed-Use Transit Oriented District Diagram ……………………………………………………………… 12 9: Mixed-Use Transit Oriented District Diagram ……………………………………………………………… 13 10: Current Zoning ………………………………………………………………………………………………………. 21 11: Rezone Area – Ownership ……………………………………………………………………………………….. 22 12: Zoning Comparison Table ……………………………………………………………………………………….. 23 12: Building Height Diagram …………………………………………………………………………………………. 24 13: Building Podium Diagram ……………………………………………………………………………………….. 25 3 OVERVIEW The Mayor has initiated a petition to update the Downtown Plan and amend the Zoning Map of Salt Lake City to better align with recommendations of the recently completed Rio Grande District Vision & Implementation Plan. The petition is intended to implement the vision, goals and policies of the City’s adopted General Plan. The following amendments are the subject of the petition: Downtown Plan Amendment The amendment updates the Depot District section of the Downtown plan to reﬂect elements of the recently completed Rio Grande District Vision & Implementation Plan. The Vision & Implementation Plan was completed by the Community Reinvestment Agency and charts the course for creating an urban, transit-oriented neighborhood adjacent to the Salt Lake Central Station transit hub in west downtown. Zoning Map Amendment The amendment rezones certain properties within the Rio Grande District from GMU Gateway Mixed Use to D4 Downtown Secondary Business District. The purpose of the zone change is to allow additional building height. The additional building height will transfer the overall development density of the district to taller buildings to support the preservation of land for new streets and plazas, and the adaptive re-use of existing historic buildings. CRA Rio Grande District Team: Wayne Mills - Senior Project Manager Ashley Ogden - Senior Project Manager Kristina Harrold - Project Manager Marcus Lee – Project Coordinator 4 DISTRICT CONTEXT The Depot District The Rio Grande District (area subject to this petition) is located within the Depot District, one of 10 geographic districts that make up the Downtown Plan Area. The Downtown Plan describes the Depot District as “a complete urban neighborhood.” The plan goes on to say that “the future of the Depot District is a dense urban neighborhood that provides a full range of housing options and is served by all modes of transit.” The Depot District is home to regionally signiﬁcant sports, entertainment and cultural facilities. The district is easily accessed by automobile due to its close proximity to I-15 and high- capacity arterial streets, such as 400 South and 200 South. The Salt Lake Central Station (Intermodal Hub) creates a transit-rich environment with access to TRAX, Frontrunner, local buses, Amtrak, and Greyhound services. The CRA’s involvement in the Depot District began in the late 90’s when the Depot District Redevelopment Project Area was created. Since then, the CRA has made signiﬁcant investment in the neighborhood, including removing railroad tracks from 500 West, shortening the 400 South viaduct, participation in the development of the Gateway and Asher Adams Hotel, affordable housing development, and acquisition of properties that are subject to the Rio Grande District Vision & Implementation Plan. The CRA recently submitted an application to create a Housing and Transit Reinvestment Zone (HTRZ) that is centered on Salt Lake Central Station, which, if approved, will provide funding to support the buildout of the Rio Grande District, including the planned infrastructure upgrades, streetscapes, public open spaces, adaptive reuse of existing structures, affordable housing, and more, as envisioned in the Rio Grande District Vision & Implementation Plan. Additional information regarding the Depot District can be found in the Downtown Plan and the Rio Grande District Vision & Implementation Plan. 5 The Rio Grande District The Rio Grande District is a two-block area located within the Depot District on the western edge of Downtown. It is bordered by 400 South to the south, 200 South to the north, 600 West and Salt Lake Central Station to the west, and 500 West and the Rio Grande Depot to the east. The CRA owns approximately 11 acres of land within the Rio Grande District. Fig. 2: Rio Grande District (aerial) The diagrams on the following pages provide information on land ownership, current zoning, and mobility within the Rio Grande District. More detailed information can be found in the Rio Grande District Vision & Implementation Plan, starting on page 29. 6 Ownership Fig. 3: Ownership 7 Ownership (cont.) The Rio Grande District consists of a conglomerate of property owners and businesses. Property Owners Acreage Parcels Buildings on Property Fill the Pot / A Place for Your Stuff SDI Printex Agency acres 29 Salt Lake Mattress Building Intermountain Furniture Building Blue Warehouse Nicholas & Co. 3.3 acres 1 Nicholas & Co. Building Artspace City Center Artspace 1.6 acres 3 Artspace Macaroni Flats Artspace Bridge University of Utah Foundation 1.9 acres 7 Vacant Property ownership and use subject to change Fig. 4: Ownership Table 8 Zoning Fig. 5: Zoning 9 Mobility Fig. 6: Mobility 10 The Rio Grande District Vision and Implementation Plan The CRA owns approximately 11 acres of land within the Rio Grande District. In 2023, the CRA hired a consultant team to prepare a strategy for redeveloping the Rio Grande District according to the vision, goals and objectives of the Downtown Plan. The Rio Grande District Vision & Implementation Plan was endorsed by the CRA Board of Directors (comprised of Salt Lake City Council members) in December 2024, and charts a detailed course for creating a vibrant, transit-oriented neighborhood that capitalizes on the site’s adjacency to the Salt Lake Central Station in west Downtown. During Plan development, conversations with the community revealed common themes and observations that are important to the users and neighbors of the Rio Grande District, which were distilled into 11 “Design Moves” that will ensure that future development activities conform with the vision for the neighborhood. These include: 1. Establish compact, walkable blocks by breaking up the typical Salt Lake City block with new streets to ensure a walkable environment while promoting compact urban development. 2. Restore the site for all living things by planting native species and promoting biodiversity, clean air, and water conservation. 3. Enable low carbon mobility via low-stress pedestrian and bicycle facilities that are seamlessly connected to Salt Lake Central Station. 4. Champion the Green Loop as a critical part of the mobility network and an inclusive community open space that will activate the neighborhood at different times of the day and year. 5. Ensure functional roadways by providing two-way travel lanes, on street parking, pick up/drop off points, and ingress and egress for parking and loading. 6. Lead with a shared parking strategy that includes progressive parking ratios, a shared garage for neighborhood users, and opportunities to broker agreements to utilize existing but underutilized parking supply within the Depot District. 7. Curate public places, such as the 300 South Festival Street, Arts Campus, and Green Loop, with arts, culture, and performance. 8. Strengthen social fabric by delivering community beneﬁts that support a more equitable, resilient urban fabric and ensuring that historically marginalized and underrepresented communities are the beneﬁciaries of this new district. 9. Catalyze street life and mixed-use development with activated ground ﬂoor space for shops, restaurants, and maker’s spaces, and an array of other land uses ranging from residential, to space for non-proﬁts, to incubator, lab, and office space for the growing life sciences industry. 11 10. Maximize the TOD potential by allowing for increased building heights and density. 11. Design sustainable buildings that promote occupant connections to nature, preservation of key buildings to preserve embodied carbon, conservation of water, and harnessing of the sun through high performing buildings and renewable energy systems. The diagrams on the following pages are a visual representation of the Rio Grande District vision. The full Rio Grande District Vision & Implementation Plan can be found here - https://rda.slc.gov/home/riograndedistrict/. 12 Fig. 7: Human Centered Public Realm Diagram Rio Grande District Vision & Implementation Plan Fig. 8: Mixed-Use Transit Oriented District Diagram Rio Grande District Vision & Implementation Plan 13 Fig. 9: Rio Grande District Open Space Diagram Rio Grande District Vision & Implementation Plan 14 MASTER PLAN AMENDMENT The Rio Grande District is located within the boundaries of the Downtown Plan. The Downtown Plan, adopted in 2016, divides the plan area into 10 unique geographic districts and provides a set of initiatives for development of each district. One of the unique districts is the Depot District, which is highlighted as “a complete urban neighborhood” that: • Provides housing choice • Is vibrant and active • Is prosperous • Fosters equity and opportunity • Is connected • Is walkable • Is welcoming and safe • Unites city and nature • Is beautiful Catalytic Project The Downtown Plan identiﬁes a catalytic project for each geographic district that is intended to “unlock the potential of each district and the downtown as a whole.” The catalytic project in the Depot District is the “Hub Implementation Strategy,” a previous iteration of the CRA’s redevelopment plans for the area comprising the Rio Grande District. The following are the key concepts of the Hub Implementation Strategy, which served as the cornerstone for development of the Rio Grande District Vision & Implementation Plan: • Increased use of Frontrunner to and from the area by increasing the office use in the area • Smaller blocks bounded by new streets and walkways • Reduced street widths • Preserved older buildings where possible • Employment-based transit-oriented development • Integrated residential, office and commercial uses • Unique paving, lighting, planting, and other design elements • New pocket parks and plazas • Reimagined “park blocks” along 500 West as usable linear park space The proposed master plan amendment updates the catalytic project of the Depot District to reﬂect the vision for the Rio Grande District. The proposal amends the language on page 106 and the diagram on page 107 of the Downtown Plan “Hub Implementation Strategy” with the language and diagrams on the following pages: 15 CATALYTIC PROJECT: RIO GRANDE DISTRICT The Rio Grande District is located in the Depot District of Salt Lake City, within the bounds of 200- 400 South and 500-600 West. The site is in a prime location with: • High visibility near prominent entry and exit points to/from the CBD core; • Unparalleled multi-modal transportation options with regional commuter rail, light rail, bus, Amtrak, and Greyhound services available at UTA’s Salt Lake Central Station; and • Close proximity to the city’s many cultural, sports, and entertainment options, such as the Delta Center, home of the Utah Jazz and Utah Hockey Club. The Salt Lake City Community Reinvestment Agency (CRA) owns approximately 11 acres of land within the Rio Grande District and, in partnership with neighborhood stakeholders, developed a redevelopment strategy for the area referred to as the Rio Grande District Vision & Implementation Plan. The implementation strategy envisions a vibrant new Downtown destination with a dense, diverse mix of land uses that contribute to a District that is active for 18 hours a day. The site’s unparalleled transit access will be complemented by low-stress pedestrian and bicycle facilities that provide safe and seamless connections to UTA’s Salt Lake Central Station and other nearby stops. Anchored by the iconic Rio Grande Depot building, the neighborhood’s unique public spaces will be an ever-evolving canvas for the wealth of artists, cultural organizations, and non-proﬁts who already call the neighborhood home. Increased density will be leveraged to deliver community beneﬁts that support a more equitable, inclusive, and sustainable downtown for all. The implementation strategy identiﬁes the following 11 principles to guide future development of the Rio Grande District: • Establish Compact, Walkable Blocks • Restore the Site for all Living Things • Enable Low Carbon Mobility • Curate Public Places with Arts, Culture, and Performance • Strengthen Social Fabric • Catalyze Street Life and Mixed-Use Development • Champion the Green Loop • Ensure Functional Roadways • Lead with Shared Parking • Maximize the TOD Potential • Design Sustainable Buildings The Rio Grande District Vision & Implementation Plan is considered an implementation strategy that advances Plan Salt Lake and the Downtown Plan. While the speciﬁc details may change, the diagrams on the next page represent the vision for buildout of the Rio Grande District. 16 17 Standards for Master Plan Amendments Section 19.06.070 of the City Code provides a list of factors the Planning Commission and City Council should consider when considering a General Plan Amendment. The following are the list of factors with the CRA’s response as it relates to the proposed update to the Downtown Plan. 1. Whether the proposal is consistent with citywide policies. Plan Salt Lake is the citywide vision plan and provides the framework for growth in the City through a list of guiding principles. The proposed update to the Downtown Plan is supported by the following Guiding Principles in Plan Salt Lake: Growth: Growing responsibly, while providing people with choices about where they live, how they live, and how they get around. • Locate new development in area with existing infrastructure and amenities, such as transit and transportation corridors; • Encourage a mix of land uses. • Promote inﬁll and redevelopment of underutilized land. • Accommodate and promote an increase in the City’s population. Housing: Access to a wide variety of housing types for all income levels throughout the City, providing the basic human need for safety and responding to changing demographics. • Ensure access to affordable housing citywide (including rental and very low income). • Direct new growth toward areas with existing infrastructure and services that have the potential to be people-oriented. • Promote high density residential in areas served by transit. Beautiful City: A beautiful city that is people focused. • Reinforce downtown and the visually dominant center of the city through the use of design standards and guidelines Preservation: Maintaining places that provide a foundation for the City to affirm our past. • Preserve and enhance neighborhood and district character. • Retain areas and structures of historic and architectural value. • Balance preservation with flexibility for change and growth. Economy: A balanced economy that produces quality jobs and fosters an innovative environment for commerce, entrepreneurial local business, and industry to thrive. • Support the economic growth of Downtown, including development of Station Center 18 2. Whether the proposal is consistent with the goals, policies, or implementation actions of the general plan, including applicable element plans. The Downtown Plan charts the course of future growth in the Central Business District and surrounding area and acknowledges that downtown is the center for dense urban living. The Downtown Plan divides the plan area into 10 unique geographic districts and provides a set of initiatives for development of each district. The Rio Grande District is located in the Depot District and a summary of the initiatives established for the Depot District are included in the previous section of this report. The catalytic project in the Depot District is currently referred to as the Hub Implementation Strategy, a previous iteration of the CRA’s redevelopment plans for the area comprising the Rio Grande District. The proposed amendment to the Downtown Plan updates the catalytic project according to the strategies developed in the Rio Grande District Vision & Implementation Plan. These strategies are consistent with the key concepts and goals stated for the Hub Implementation Strategy and help to ensure that future development is consistent with the goals, policies and implementation actions of the Downtown Plan. 3. Whether signiﬁcant change has occurred that warrants the creation of a new plan or an update to an adopted plan. The change that warrants an update to the Downtown Plan is the completion of the Rio Grande District Vison & Implementation Plan, which was endorsed by the CRA Board of Directors in December 2024. The Downtown Plan references the Hub Implementation Strategy, a previous iteration of CRA’s redevelopment strategy for this area. In 2023, the CRA revisited the Hub Implementation Strategy to ensure that redevelopment plans capitalize on the area’s potential and the Depot District initiatives within the Downtown Plan were used as a foundation for this revised vision/strategy. The proposed amendment updates and reﬁnes the Hub Implementation Strategy, essentially replacing it. Amending the Downtown Plan ensures that the update to the redevelopment strategy is reﬂected in the adopted plans of the City. 4. Whether the goals, policies, or implementation actions of the plan to be amended have been achieved, are no longer relevant to or capable of addressing the current issues or needs of the neighborhood or the city, or are no longer aligned with policies in citywide plans. The proposed plan amendment is not changing the goals or policies of the Downtown Plan. It is updating the plan with more details on how the vision, goals and policies will be implemented. 19 5. For petitions submitted by a property owner, the extent, effectiveness, and proportionality of the public beneﬁt proposed by the petitioner to the increase in development potential if the proposal were to be adopted by the city council. This standard is not applicable because the petition was initiated by the Mayor. 6. The potential for displacement of people who reside in any housing that is within the boundary of the proposed amendment and the plan offered by the petitioner to mitigate displacement. There would be no displacement of residents within the Rio Grande District. In fact, the CRA’s redevelopment strategy calls for the construction of new housing, thereby increasing housing supply in the City. 7. The potential for displacement of any business that is located within the boundary of the proposed amendment and the plan offered by the petitioner to mitigate displacement. The area subject to the proposed master plan amendment is the entire Rio Grande District; however, the properties along 200 South and the Artspace-owned properties along and near 500 West are not targeted for redevelopment. These properties are privately owned, some contain historic structures that have been adaptively reused, and some were recently redeveloped. The remaining properties will be redeveloped and are subject to the proposed rezone discussed later in this report. The CRA owns 29 parcels in the Rio Grande District, with two of the parcels currently occupied by businesses/organizations. The following provides a brief history of the properties and current uses. 502 W 300 South There are two buildings on this parcel. The western building is occupied by SDI Printex, a screen- printing company that produces promotional products. SDI was the original owner of the property and sold it to the CRA with an understanding that the property would be redeveloped as part of the Rio Grande District development strategy. An arrangement was made to allow SDI to lease the building on a month-to-month basis at a rate well below market value. The intent of the reduced lease rate was to allow SDI to build sufficient capital to relocate. The eastern building is currently occupied by two service organizations: Fill the Pot Ministries and A Place for Your Stuff. Fill the Pot Ministries provides meals to individuals in need and A Place for Your Stuff provides personal storage space to people experiencing homelessness. The CRA offered the use of the building at no cost with an understanding that the property will be redeveloped in the future. The Rio Grande District Vision & Implementation Plan provides a phasing plan for development and the land beneath the building occupied by these service organizations is the last phase. This will allow sufficient time for the CRA to work with the organizations on developing a relocation plan. 20 310 S 500 West The property at 310 S 500 West was purchased from the State of Utah in 2022. The building continues to be occupied by the State as office space and a temporary storage location for historical artwork and artifacts while a new facility is being constructed at the State Capitol. When the new facility is complete, the State will vacate the property, and it will be redeveloped by USA Climbing and serve as the home of their headquarters and training center for the national team. 8. The potential impacts to properties in the immediate vicinity of the proposal. The impacts that the proposed update to the Downtown Plan will have are positive. Implementation of the Rio Grande District Plan will result in investment in an area that is ripe for change. The proposed plan update charts a course for implementing redevelopment of this area of the City as envisioned by the Downtown Plan. 9. The potential impacts on the city to provide safe drinking water, storm water, and sewer to the property based on the additional development potential of future development. The CRA has hired a team of consultants to design the street and infrastructure improvements needed to support the increased density envisioned in the Rio Grande District Vision & Implementation Plan. The CRA is also pursuing the funds needed for construction of the infrastructure improvements and is working with a team of representatives from all applicable City departments and divisions to ensure that the improvements comply with applicable codes and policies. 10. The potential impacts to public safety resources created by the increase in development potential that may result from the proposed amendment. The Rio Grande area has a history of public safety issues, largely due to a lack of development activity. Implementation of the Rio Grande District Plan will result in a positive change to the neighborhood as it will provide 24-hour activity in the neighborhood. 11. The potential impacts to any other city service, infrastructure, or resource that may be impacted by the increase in development potential that may result from the proposed amendment. As mentioned previously, the CRA is working with a team of representatives from all applicable City departments and divisions to address services, infrastructure, and resources needed to serve the Rio Grande District. 21 ZONING MAP AMENDMENT Purpose The Rio Grande District is currently in the GMU Gateway Mixed-Use district, and the proposal is to change the zoning of certain properties to D4 Downtown Secondary Business District. Fig. 10: Current Zoning Rezoning the Rio Grande District is instrumental in implementing the Rio Grande District Plan. The Plan was developed as a strategy for implementing the Downtown plan and it provides a detailed roadmap for creating a dense, urban, transit-oriented neighborhood that capitalizes on adjacency to the Salt Lake Central Station transit hub. Rezoning the properties to D4 will allow for taller buildings. The increase in allowable building height will increase density, shifting the development potential from being spread out across the entire district to being concentrated on smaller building footprints. It follows the concept of going up instead of out. Allowing buildings to go up will free up land to be used for: • New public streets and midblock connections that break up the large 10-acre blocks • Development of a Festival Street along 300 South 22 • An Arts Campus Plaza • A new park under the 400 South overpass • Development of a shared parking structure at the perimeter of the District • Preservation/reuse of two historic buildings • Infrastructure improvements that support future development Properties Subject to Rezone There are 35 properties included in the proposed rezone area with 28 of the properties owned by the CRA and seven owned by the University of Utah. The properties along 200 South and the Artspace- owned properties along and near 500 West are not targeted for redevelopment. These properties are privately owned, some contain historic structures that have been adaptively reused, and some were recently redeveloped; therefore, they are not included in the rezoning proposal. Representatives from the CRA have been working with the owner of the property located at the northwest corner of the southern block of the Rio Grande District and offered to include their property in the rezone petition. The property owner is not interested in rezoning their property at this time. Subject Property Ownership CRA University of Utah Fig. 11: Rezone Area - Ownership 23 Existing and Proposed Zoning - Site and Building Design Comparison The GMU and D4 districts are similar in relation to site and building design regulations. Both districts create a dense urban environment by placing buildings close to the sidewalk, requiring active ground ﬂoors along street frontages, and requiring mid-block walkways when identiﬁed in the Downtown Plan. The following table provides a generalized comparison of the site and building design regulations between the GMU and D4 zone: GMU (existing zone) D4 (proposed zone) Minimum = None Maximum = 10 feet Maximum = 8 feet (can exceed the maximum for plazas) Side and Rear Building Setbacks % of the street facing ground ﬂoor that requires an active use % of durable materials along street facing facades ﬂ ﬂ ﬂ ﬂ % of glass on street facing façade ﬂ ﬂ ﬂ ﬂ Minimum number of building entrances along the street length length Maximum length of blank street facing facades Maximum building length along the street Fig. 12: Zoning Comparison Table Both zones allow similar land uses. One speciﬁc difference is that the GMU district requires residential uses along 500 West. Rezoning the subject properties to D4 would eliminate this requirement; however, the Rio Grande District Plan identiﬁes two parcels along 500 west for substantial residential development (see pages 106 and 107 of the Rio Grande District Plan). 24 Building Height The biggest difference between the existing and proposed zones, and the reason for the rezone request, is building height. The maximum “by-right” building height in the GMU zone is 90 feet with 180 feet of height allowed through the Design Review process. The by-right building height in the D4 district is 200 feet with buildings allowed up to 600 feet through Design Review. The Rio Grande District Plan contains detailed design guidelines with targeted building heights ranging from 75 feet for the future USA Climbing site on the southwest corner of 300 South and 500 West, to 400 feet for a residential/mixed-use tower on the northwest corner of that same intersection. Rezoning the subject properties to D4 is necessary to achieve the density envisioned by the Rio Grande District Plan. To mitigate potential impacts of taller buildings, the Rio Grande District Plan contains design guidelines that are intended to break up the massing of buildings by limiting podium height and requiring upper ﬂoors to be stepped back. The plan also includes guidelines related to street level ground ﬂoor activation and sustainable building design. The following two diagrams are from the Rio Grande District Plan and provide a visual representation of the podium heights and building massing. The detailed guidelines begin on page 101 of the Rio Grande District Plan. 25 Fig. 13: Building Podium Diagram Rio Grande District Vision & Implementation Plan Fig. 14: Building Orientation and Massing Diagram Rio Grande District Vision & Implementation Plan 26 Standards for Zoning Map Amendments Section 21A.50 of the Zoning Ordinance provides a list of factors the City Council should consider when making a decision to amend the zoning map. The following are the list of factors with the CRA’s response as it relates to the purpose of the zoning amendment stated in the previous section. 1. Whether a proposed map amendment is consistent with and helps implement the purposes, goals, objectives, and policies of the city as stated through its various adopted planning documents Plan Salt Lake is the citywide vision plan and provides the framework for growth in the City through a list of guiding principles. Considering the purpose of the proposed zoning amendment and implementation of the Rio Grande District Plan, the following Guiding Principles in Plan Salt Lake support the rezoning: Growth: Growing responsibly, while providing people with choices about where they live, how they live, and how they get around. • Locate new development in area with existing infrastructure and amenities, such as transit and transportation corridors; • Encourage a mix of land uses. • Promote inﬁll and redevelopment of underutilized land. • Accommodate and promote an increase in the City’s population. Housing: Access to a wide variety of housing types for all income levels throughout the City, providing the basic human need for safety and responding to changing demographics. • Ensure access to affoCRAble housing citywide (including rental and very low income). • Direct new growth toward areas with existing infrastructure and services that have the potential to be people-oriented. • Promote high density residential in areas served by transit. Beautiful City: A beautiful city that is people focused. • Reinforce downtown and the visually dominant center of the city through the use of design standards and guidelines Preservation: Maintaining places that provide a foundation for the City to affirm our past. • Preserve and enhance neighborhood and district character. • Retain areas and structures of historic and architectural value. • Balance preservation with flexibility for change and growth. 27 Economy: A balanced economy that produces quality jobs and fosters an innovative environment for commerce, entrepreneurial local business, and industry to thrive. • Support the economic growth of Downtown, including development of Station Center The Downtown Plan charts the course of future growth in the Central Business District and surrounding area and acknowledges that downtown is the center for dense urban living. The Downtown Plan divides the plan area into 10 unique geographic districts and provides a set of initiatives for development of each district. The Rio Grande District is located in the Depot District and a summary of the initiatives established for the Depot District are summarized throughout this report. The Depot District’s catalytic project is the Hub Implementation Strategy, and the Rio Grande District Vision & Implementation Plan is the roadmap for implementing that strategy. Rezoning the Rio Grande District is necessary function of implementing the initiatives established for the Depot District as stated in the Downtown Plan. 2. Whether a proposed map amendment furthers the applicable purpose statements of the zoning ordinance. The purpose of the Zoning Ordinance is stated in Section 21A.02.030. One purpose of zoning is to implement the adopted plans of the City. Rezoning the Rio Grande District to D4 will be a major step in implementing the Rio Grande District plan, which is a key initiative of the Downtown Plan. The purpose of the D4 district is to: “…foster an environment consistent with the area's function as a housing, entertainment, cultural, convention, business, and retail section of the city that supports the Central Business District. Development is intended to support the regional venues in the district, such as the Salt Palace Convention Center, and to be less intense than in the Central Business District. This district is appropriate in areas where supported by applicable master plans. The standards are intended to achieve established objectives for urban and historic design, pedestrian amenities, and land use control, particularly in relation to retail commercial uses.” The Rio Grande District would further the purpose of the D4 district. Rezoning the Rio Grande District will be instrumental in creating a housing, entertainment, cultural, business, and retail hub that supports the Central Business District, as well as the nearby regional venues. 28 3. The extent to which a proposed map amendment will affect adjacent and nearby properties due to the change in development potential and allowed uses that do not currently apply to the property. The Rio Grande District is currently zoned GMU, and the proposal is to rezone a portion of the district to D4. The allowed land uses and the design regulations are similar in both zones so there would be no impact on nearby properties regarding property use and design. The main difference between the two districts is building height. The GMU zone allows buildings up to 180 feet in height and the D4 allows 600 feet of building height. Both districts require design review approval to achieve those heights. The Rio Grande District is comprised of two City blocks. There are no existing, permanent land uses on the southern block, so the entire block will be redeveloped. Since the entire block will be redeveloped, there would be no impact on adjacent land uses with the proposed change in zoning. The north block is a mix of developed property and properties targeted for redevelopment. The properties targeted for redevelopment are owned by the CRA and are subject to the proposed zoning amendment. The properties not subject to the rezone include those that front 200 South and the Artspace and Macaroni Flats properties located on 500 West. The CRA acknowledges that a 600-foot building wall could impact adjacent properties. The Rio Grande District Plan provides strategies to mitigate these impacts by stipulating building form standards that will be used when the CRA markets the properties for development. The building form standards begin on page 112 of the Rio Grande District Plan and a summary of the standards is as follows: • Taller building height in the center of the district along 300 South with heights stepping down to the perimeter of the district. • Podium heights that match the height of adjacent structures. • Building stepbacks above the podium. In addition to the building form standards in the Rio Grande Plan, all buildings over 200 feet in height in the D4 district require design review. Design Review requires compliance with the Design Review standards stated in Section 21A.59 of the Zoning Ordinance and requires approval by the Planning Commission. 4. Whether a proposed map amendment is consistent with the purposes and provisions of any applicable overlay zoning districts which may impose additional standards. No overlay zoning districts would be impacted with this petition. 29 5. The potential impacts on the city to provide safe drinking water, storm water, and sewer to the property and other properties based on the additional development potential of future development including any impact that may result in exceeding existing or planned capacities that may be located further away from the subject property. The CRA has hired a team of consultants to design the street and infrastructure improvements needed to support the increased density that would result from the proposed zone change. The CRA is also pursuing the funds needed for construction of the infrastructure improvements and is working with a team of representatives from all applicable City departments and divisions to ensure that the improvements comply with applicable codes and policies. 6. The status of existing transportation facilities, any planned changes to the transportation facilities, and the impact that the proposed amendment may have on the city's ability, need, and timing of future transportation improvements. Existing Transportation Facilities The Rio Grande District is bordered to the north and south by city arterial streets, to the west by the Salt Lake Central Station transit hub and is approximately two blocks from I-15. The existing transportation network provides various options for mobility and is sufficient to support the increase in density and activity as a result of the proposed change in zoning. Planned Transportation Facilities The Utah Transit Authority (UTA) recently completed the TechLink TRAX study, an analysis of alternatives for improving light rail service. The preferred alternative adds a new light rail line along 400 West with a station at 300 South, just one block east of the Rio Grande District. When implemented, the new rail line and station will increase transit options in an already transit-rich neighborhood. The TechLink Study also recommends adding new tracks along 400 South, which is the southern edge of the Rio Grande District. This new line would add a connection to the Salt Lake Central Station for operational redundancy or future transit service. The Rio Grande District Vision & Implementation Plan recognizes a 25-foot easement along the southern edge of the district in anticipation of the future rail line along 400 South. In addition to an increase in transit, implementation of the Rio Grande District plan will result in new local streets that will break up the larger blocks, thereby increasing walkability and bike and automobile circulation. 30 7. The proximity of necessary amenities such as parks, open space, schools, fresh food, entertainment, cultural facilities, and the ability of current and future residents to access these amenities without having to rely on a personal vehicle. The Rio Grande District is within walking distance to Pioneer Park, The Gateway, the Delta Center, and numerous other locations for food, entertainment, and culture. The District is also adjacent to the Salt Lake Central Station transit hub, which will allow future residents to access any amenity in the region that is accessible by transit. In addition to existing amenities, implementation of the Rio Grande District will result in new parks, public plazas, restaurants, and entertainment destinations within the district itself. 8. The potential impacts to public safety resources created by the increase in development potential that may result from the proposed amendment. The Rio Grande area has a history of public safety issues due to a lack of development activity. Rezoning the District is a crucial step in implementing the Rio Grande District Plan and implementation of the plan will result in a positive change to the neighborhood as it will provide 24- hour activity in the neighborhood. 9. The potential for displacement of people who reside in any housing that is within the boundary of the proposed amendment and the plan offered by the petitioner to mitigate displacement. There is no housing on the properties subject to the zoning amendment. 10. The potential for displacement of any business that is located within the boundary of the proposed amendment and the plan offered by the petitioner to mitigate displacement. The properties subject to the proposed zoning amendment are owned by the CRA and University of Utah. The University owned properties are vacant; therefore, there would be no displacement of businesses. The CRA owns 29 parcels in the Rio Grande District, with two of the parcels currently occupied by businesses/organizations. The following provides a brief history of the properties and current uses. 502 W 300 South There are two buildings on this parcel. The western building is occupied by SDI Printex, a screen- printing company that produces promotional products. SDI was the original owner of the property and sold it to the CRA with an understanding that the property would be redeveloped as part of the 31 Rio Grande District development strategy. An arrangement was made to allow SDI to lease the building on a month-to-month basis at a rate well below market value. The intent of the reduced lease rate was to allow SDI to build sufficient capital to relocate. The eastern building is currently occupied by two service organizations: Fill the Pot Ministries and A Place for Your Stuff. Fill the Pot Ministries provides meals to individuals in need and A Place for Your Stuff provides personal storage space to people experiencing homelessness. The CRA offered the use of the building at no cost with an understanding that the property will be redeveloped in the future. The Rio Grande District Vision & Implementation Plan provides a phasing plan for development and the land beneath the building occupied by these service organizations is the last phase. This will allow sufficient time for the CRA to work with the organizations on developing a relocation plan. 310 S 500 West The property at 310 S 500 West was purchased from the State of Utah in 2022. The building continues to be occupied by the State as office space and a temporary storage location for historical artwork and artifacts while a new facility is being constructed at the State Capitol. When the new facility is complete, the State will vacate the property, and it will be redeveloped by USA Climbing and serve as the home of their headquarters and training center for the national team. 11. The community beneﬁts that would result from the proposed map amendment, as identiﬁed in Section 21A.50.050.C. The Community Beneﬁt standard applies to petitions initiated by a private property owner. This petition was initiated by the Mayor; therefore, the community beneﬁt standard does not apply. Regardless, rezoning the Rio Grande District to D4 will result in numerous beneﬁts that would not otherwise be provided without the amendment. The overall purpose of the amendment is to shift the development potential from being spread out across the entire district to being concentrated on smaller building footprints. It follows the concept of going up instead of out. Allowing buildings to go up will free up land that will be used for new streets and plazas. It also transfers the development potential from two properties with historic buildings, allowing those properties to be reused. Rezoning the District and implementing the Rio Grande District Plan is consistent with the following community beneﬁts as described in Section 21A.50.050C of the Zoning Ordinance: • Dedication of public open space • Preserving historic structures • Expanding public infrastructure MAYOR ERIN MENDENHALL Executive Director DANNY WALZ Director SALT LAKE CITY COMMUNITY REINVESTMENT AGENCY MEMO DATE: September 10, 2025 TO: Cassie Younger, Senior Planner CC: Danny Walz, CRA Director; Cara Lindsley, Deputy CRA Director; Ashley Ogden, CRA Senior Project Manager; File FROM: Wayne Mills, CRA Senior Project Manager RE: Rio Grande District Master Plan and Zoning Map Amendments – Request to Schedule Planning Commission Hearing The purpose of this memo is to request that the Planning Division schedule Petitions PLNPCM2025- 00180 and PLNPCM2025-00181 for a Planning Commission public hearing. The petitions were initiated by the Mayor to implement the Rio Grande District Vision & Implementation Plan, and the CRA is acting as the mayor’s representative. As you are aware, the petitions were scheduled for a public hearing on May 28, 2025, and the CRA requested that the Planning Commission postpone its public hearing to allow time for further refinement of the proposal. The CRA has completed additional work on the petitions and would like to make minor revisions, including adding a reference to mid-block walkway requirements in the proposed Downtown Master Plan amendment language and removing a small portion of a parcel from rezoning consideration. The proposed changes are explained below. Master Plan Amendment Petition Revision The petition initiated by the Mayor is an amendment to the Depot District section of the Downtown Master Plan. The master plan highlights the “Hub Implementation Strategy” as the catalytic project in the Depot District, and the Hub Implementation Strategy was a previous iteration of the CRA’s redevelopment plans for the area now called the Rio Grande District. The proposed master plan amendment updates the language to reflect the goals stated in the Rio Grande District Vision & Implementation Plan. A primary objective of the Downtown Plan is to increase connectivity and pedestrian mobility downtown, and page 99 of the plan contains a diagram showing the locations of existing and future mid-block walkways. The mid-block connections identified on the blocks bounded by 200 South, 500 West, 400 South, and 600 West were a result of the CRA’s Station Center Plan, the previous iteration of what is now the Rio Grande District Vision & Implementation Plan. In an effort to ensure consistency between the mid-block street network that will be developed as part of the Rio Grande District redevelopment effort and the mid-block connections identified in the Downtown Plan, we are proposing to add language to the master plan amendment that states that the mid-block walkway plan shown on page 99 of the Downtown Plan is amended to reflect the mobility network as identified in the Rio Grande District Vision & Implementation Plan. To this end, the following replaces the proposed master plan amendment language as stated on pages 15 and 16 of the report submitted with the petition initiation. The new language is underlined. CATALYTIC PROJECT: RIO GRANDE DISTRICT The Rio Grande District is located in the Depot District of Salt Lake City, within the bounds of 200- 400 South and 500-600 West. The site is in a prime location with: • High visibility near prominent entry and exit points to/from the CBD core; • Unparalleled multi-modal transportation options with regional commuter rail, light rail, bus, Amtrak, and Greyhound services available at UTA’s Salt Lake Central Station; and • Close proximity to the city’s many cultural, sports, and entertainment options, such as the Delta Center, home of the Utah Jazz and Utah Mammoth. The Salt Lake City Community Reinvestment Agency (CRA) owns approximately 11 acres of land within the Rio Grande District and, in partnership with neighborhood stakeholders, developed a redevelopment strategy for the area referred to as the Rio Grande District Vision & Implementation Plan. The implementation strategy envisions a vibrant new Downtown destination with a dense, diverse mix of land uses that contribute to a District that is active for 18 hours a day. The site’s unparalleled transit access will be complemented by low-stress pedestrian and bicycle facilities that provide safe and seamless connections to UTA’s Salt Lake Central Station and other nearby stops. Anchored by the iconic Rio Grande Depot building, the neighborhood’s unique public spaces will be an ever-evolving canvas for the wealth of artists, cultural organizations, and non-profits who already call the neighborhood home. Increased density will be leveraged to deliver community benefits that support a more equitable, inclusive, and sustainable downtown for all. The implementation strategy identifies the following 11 principles to guide future development of the Rio Grande District: • Establish Compact, Walkable Blocks • Restore the Site for all Living Things • Enable Low Carbon Mobility • Curate Public Places with Arts, Culture, and Performance • Strengthen Social Fabric • Catalyze Street Life and Mixed-Use Development • Champion the Green Loop • Ensure Functional Roadways • Lead with Shared Parking • Maximize the TOD Potential • Design Sustainable Buildings The Rio Grande District Vision & Implementation Plan is considered an implementation strategy that advances Plan Salt Lake and the Downtown Plan. While the specific details may change, the diagrams on the next page represent the vision for the buildout of the Rio Grande District. As seen on the following diagrams, development of the Rio Grande District includes new mid-block street connections. The mobility network shown on the diagrams below amends the location of the mid- block walkways as shown on page 99 of the Downtown Plan. Zoning Map Amendment Revision One of the parcels included in the rezone petition is a narrow strip of land located along the south side of 300 South. This strip of land was formerly part of the 300 South right-of-way. The city vacated this portion of 300 South to reduce the width of the street, and the land is intended to be incorporated into the abutting parcels. As stated on page 22 of the report submitted with the zoning amendment petition, the property located at 333 S. 600 West is in the Rio Grande District but is not included in the zoning map amendment. The CRA has been working with the owner of the property, but the owner does not want to rezone their property at this time. Since the narrow strip of land along 300 South is intended to be added to this property, the portion of the strip of land abutting the parcel should be excluded from the rezone petition so as not to create a split-zoned parcel when the properties are combined. If the Planning Commission recommends approval of the rezone proposal, the CRA will provide a legal description of the portion of the strip of land that is subject to the zoning map amendment. In the meantime, the following map replaces the map of the properties subject to the rezone as shown on page 22 in the Master Plan and Zoning Map Amendment report. In conclusion, I appreciate your consideration and patience. Please contact me if you have questions or suggestions on further refinements to the proposal. We look forward to working with you on scheduling the petitions for Planning Commission review. This page has intentionally been left blank You don't often get email from cindy@artspaceutah.org. Learn why this is important From: Cindy Franke To: Younger, Cassie Subject: Re: (EXTERNAL) Comments on Rio Grande District Amendment Date: Wednesday, October 22, 2025 1:56:47 PM Attachments: image001.png image002.png Hi Cassie, Thank you for reaching out. Regarding my first comment, I just wanted confirmation that the midblock walkway was not on our property. We did not think that was the intent, and have been working with the SLC CRA on their plans for the block, but wanted to cover our bases due to past experiences. My other comment on the Design Standards was requesting that they be considered for this area so that these historic buildings are not completely lost among the high rises. Artspace and CRA put a lot of money into preserving these structures and we want to ensure their historic character is maintained. Best, Cindy From: Younger, Cassie <cassie.younger@slc.gov> Sent: Wednesday, October 22, 2025 1:12 PM To: Cindy Franke <cindy@artspaceutah.org> Subject: RE: (EXTERNAL) Comments on Rio Grande District Amendment Hi Cindy, Thank you for your comments. They will be forwarded to the members of the Planning Commission. I’m a little confused by your first comment, since all the midblock walkways shown in the Report should be the same. The ones next to the Artspace property are shown on CRA property Caution: This is an external email. Please be cautious when clicking links or opening As for the other comments, the heights transition Design Standard is only applied “when development is abutting a zone with a height maximum of 35' or less or abutting a local historic landmark site.” The buildings within this development are National – not Local- historic sites. So this Design Standard would not apply. This application does not include development plans so do not know where the CRA intends to put their taller buildings. Hope this helps, Cassie Younger | (she/her) Senior Planner PLANNING DIVISION | SALT LAKE CITY CORPORATION Office: 801-535-6211 Email: cassie.younger@slc.gov WWW.SLC.GOV slc.gov/planning From: Cindy Franke <cindy@artspaceutah.org> Sent: Wednesday, October 22, 2025 11:57 AM To: Younger, Cassie <cassie.younger@slc.gov> Subject: (EXTERNAL) Comments on Rio Grande District Amendment You don't often get email from cindy@artspaceutah.org. Learn why this is important Hi Cassie, Below are a few comments we have on the proposed Zoning Map and General Plan Amendment for the Rio Grande District: 1. It appears the intent is for the midblock walkway to be on RDA property, but I want to clarify that the midblock walkway does not go on Artspace City Center property where our driveway to our underground parking garage is located. The map on page 56 shows a straight line for the proposed midblock walkway, but on pages 22 and 26 it appears the street jogs around our property as previously discussed with the CRA. 2. We are concerned about the proposed building heights of up to 400' blocking the two historic buildings we have preserved in the area, the historic ZCMI general warehouse/Artspace City Center and the historic Western Macaroni Manufacturing Company factory/Artspace Macaroni Flats (which was completed in partnership with SLC CRA), as well as the Denver and Rio Grande Railroad Station. We are requesting that Salt Lake's Design Standards 21.A.37.050.R. Height Transition regulations be required to better promote transition of scale between buildings of different heights, especially surrounding historic buildings. 3. This concern has previously been voiced, but the proposed building heights also block the solar panels that we have on Macaroni Flats and are currently installing on Artspace Bridge Projects, negating the intent of "Design Moves" #11 of designing sustainable buildings and preventing us from "harnessing of the sun through high performing buildings and renewable energy systems". We ask you to consider developing the larger structures on the southwest corner of the district where there are no existing buildings, and to have more moderate sized buildings adjacent to existing buildings and along the green loop. Thank you, Cindy Franke | Vice President ARTSPACE 230 South 500 West, Suite 235 Salt Lake City, Utah 84101 801.534.0231 www.artspaceutah.org This page has intentionally been left blank This page has intentionally been left blank CITY COUNCIL OF SALT LAKE CITY 451 SOUTH STATE STREET, ROOM 304 P.O. BOX 145476, SALT LAKE CITY, UTAH 84114-5476 SLCCOUNCIL.COM TEL 801-535-7600 FAX 801-535-7651 COUNCIL STAFF REPORT CITY COUNCIL of SALT LAKE CITY TO:City Council Members FROM:Allison Rowland DATE:February 3, 2026 RE: RESOLUTION: PUBLIC BENEFITS ANALYSIS FOR THE NORTHWEST PIPELINE BUILDING AND NEW CONSTRUCTION ISSUE AT-A-GLANCE Item Schedule: Page | 2 Before closing on the sale, the developer would be required to demonstrate evidence of construction and permanent financing, and that the Northwest Pipeline Building would be constructed to guidelines consistent with the National Park Service/Secretary of the Interior’s Standards for Rehabilitation. The Developer would “affirmatively and aggressively” market most living units to public safety and security workers, a category of public employees which includes law enforcement, emergency response, critical health, emergency capital work, fire response and prevention, air quality, related education fields, emerging training and other public safety worker categories. The developer states that this idea is related to the historic use of the building by public safety workers and, in addition, would provide housing for essential members of the community who are often priced out of the communities they serve. Goal of the briefing: Review the public benefit analysis and consider adopting a resolution which would authorize the terms for The Grove project at 321 East 200 South. ADDITIONAL AND BACKGROUND INFORMATION The Redevelopment Project. This proposal would provide at least 196 new housing units spread across 2.4 acres at approximately 321 East 200 South, a property that includes the historic Northwest Pipeline Building (which would be renovated) and enough space for new housing and parking garage construction. The renovation of the Northwest Pipeline Building would comply with national standards for rehabilitation of historic and architectural significance. It would be completed prior to or concurrently with the new construction, and construction may take place in two phases. Unit Details. The precise number and characteristics of the housing units in these buildings will depend on whether the developers are awarded 4% LIHTC funding, which will be announced near the end of 2026. With the two buildings taken together, the development would consist of 85% one- and two-bedroom units, with 15% of the units having three or more bedrooms (see chart below). The number of one- and two-bedroom units would be approximately the same. Note: The developers refer to 51% of the proposed project’s total units being “family-sized,” but this designation is based on HUD’s official definition of family-sized units as two or more bedrooms, rather than the Council/CRA Board designation of family-sized units as three or more bedrooms. Housing Units Proposed Northwest Pipeline Building New Building Total Project Maximum number of 1-bedroom units 27 60 87 Minimum number of 2 -bedroom units 30 50 80 Minimum number of 3- or more- bedroom units 6 23 29 Total 63 133 196 50% of AMI, 40% of AMI, and 30% of AMI: twenty-one units at each affordability level (see chart below). Page | 3 Affordability of Units Proposed Northwest Pipeline Building New Building Total Project Minimum number at 30% of AMI 7 14 21 Minimum number at 40% of AMI 7 14 21 Minimum number at 50% of AMI 7 14 21 Average of 60% AMI 42 91 133 Total (all <80% AMI)63 133 196 2.Wealth-building and the Family Self-Sufficiency Program. The developer would implement a comprehensive wealth-building program available to (but not required of) all households living at the two buildings. The program would include financial coaching and case management services, credit-building tools, savings or equity-building opportunities, and workforce navigation. The developer would also provide access to a discounted real estate service to assist residents who are interested in eventual homeownership. The Family Self-Sufficiency (FSS) Program would offer at least 16 households in the two buildings voluntary participation in a five-year incentive program to help these families increase their earnings and build equity with an emphasis on homeownership opportunities. Run by the Housing Authority and funded in part by the Federal Housing and Urban Development, the program would provide financial incentives for participants to increase their wealth by offering two types of services: a. Escrow savings accounts, which would allow tenants with housing vouchers to save any income increases which would otherwise need to be spent on rent, and b. Case management or coaching to help participants access services they may need to “address challenges that keep them from achieving their goals.” 3.Commercial Space. The project would make 15,000 square feet of ground-floor and basement commercial space available to locally owned businesses and neighborhood service providers. A minimum of 9,500 square feet of commercial would be included on the ground floor and an additional 5,500 square feet in the basement of the Northwest Pipeline Building. The plan would result in the majority of the 200 South façade being ground-floor commercial, and the developer would try to lease these spaces for “community-serving uses,” specifically healthcare providers, childcare operators, or healthy food and beverage retailers. If needed, the City would be able to approve alternative commercial uses that remain compatible with the project’s community benefit goals: maintains or advances public health, wellbeing, or neighborhood vitality. Policy Question: The Council may wish to ask the Administration about the current level of demand for commercial real estate in this neighborhood, especially real estate that meets the requirements listed above. 4.Additional Features. Along with residential and commercial space, this project would provide: Page | 4 - Approximately 100 stalls of shared parking for the residents. This would include sufficient parking for the neighboring Magnolia building, which would be negotiated as a new long- term parking lease at a nominal fee. Policy Question: The Council may wish to discuss whether the number of stalls of shared parking for residents would likely be sufficient to serve at least 196 adult residents. - An outdoor plaza which would be publicly accessible, and include artistic paving, seating, plantings, and shade elements conducive to social engagement. - Art elements that would prioritize street level pedestrian experience and be visible to the public from 200 South, including wall murals and other forms of art. - A “Designed to Earn ENERGY STAR” score of 90 or higher for the new building, or the corresponding Design Target Site Energy Use Intensity (EUI) value. - Sustainability elements in the Northwest Pipeline Building that will increase sustainability while meeting the historic requirements, including: updated high-efficiency HVAC systems; updated dual-pane windows compatible with the building; extensive insulation updates; and state-of-the-art energy control systems. The implementation of these components are intended to meet Energy Star certification and Enterprise Green Communities certification. B.The Proposed Property Sale. The size of this City-owned property and the historic nature of the Northwest Pipeline Building have made rehabilitation and development of this site complex. Indeed, a previous effort, begun in 2015, included construction of the current Magnolia building along with another residential building and rehabilitation of the Northwest Pipeline building. After completing the Magnolia in 2021, that developer ultimately chose not to begin the other two parts of the project, and the proposal currently before the Council is the first to be formalized since then. This history helps contextualize the price and payment structure proposed by the Administration in the January 9, 2026, transmittal. 1.Property Price. An appraisal dated November 4, 2025, set the fair market value of the property and building at $18,050,000, with $17,390,000 attributed to the land and $660,000 attributed to the Northwest Pipeline building. Since then, a single changed circumstance is responsible for much of the proposed reduction to the property value (see chart below): In early 2026, after the RFP process, this census tract was removed from the Federal “Qualified Census Tract” designation, as a result of rising average household incomes in the area. This disqualifies the property from receiving additional tax credit equity financing for developments in areas with high poverty rates. Proposed Reductions to Property Value Qualified Census Tract removal $8,700,000 Asbestos remediation for the Northwest Pipeline Building $3,230,000 Historic restoration of the Northwest Pipeline Building $1,780,000 Integration of art visible to the public along 200 South by local artist $200,000 Publicly accessible plaza with amenities including a dog park and event spaces $1,640,000 Total proposed price reduction $15,550,000 Page | 5 The transmittal also notes that the Federal government recently reduced the overall value of the credits available through the Low-Income Housing Tax Credit (LIHTC) program, further limiting additional sources of funding. For these reasons, the developers have requested that the appraised value be discounted significantly, to $1,000,000. 5.Payment Structure. The proposed sales price of $1 million would not be immediately payable to the City. The structure would instead take the form of a subordinate promissory note effective from the date of the certificate of occupancy. Repayment would begin when the LIHTC compliance period expires, in approximately 15 years, and the developer would begin making an annual payment to the City of 50% of surplus net cash flow in Year 16. If net cash flow is not available in a particular year, the payment would be at least $1 per year. Interest would accrue at a simple, non- compounding, annual rate of 3%, and the final payment would be set at 55 years from the occupancy date. All interest payments would be due then. B.Financing. The anticipated sources and uses of funding for each of the two planned buildings are listed below. Some of the listed sources, like the 4% LIHTC and the Olene Walker loan funds, are competitive and their results will not be known for several months. Others are uncertain for other reasons. For example, the line “CRA Loans” for the Northwest Pipeline Building includes the following: - $1 million from the Housing Development Loan Program (HDLP), approved March 18, 2025; - $1.25 million from the Residential Wealth Building program, approved March 18, 2025; - $1.45 million from HDLP application submitted December 4, 2025. The availability of the $1.45 million on the last line above will depend on CRA Board decisions in the coming months. The $1.25 million already awarded from the Residential Wealth Building program may be reevaluated, since the developer shifted from providing condominium (for-sale) units to a focus on equity- building. Northwest Pipeline Building Anticipated Sources Estimated Uses Low Income Housing Tax Credits $12,660,341 Hard Costs $28,400,000 Historic Tax Credits $10,295,288 Soft Costs $4,205,147 Permanent Loan $9,726,807 Loan & Bond Costs $1,852,337 Olene Walker Housing Loan Funds $1,000,000 Tax Credit & Reserves $787,770 CRA Loans $3,702,851 Dev. Fee $3,574,525 Deferred Dev. Fee $1,434,492 Gap Financing $0 Total Sources $38,819,779 Total Uses $38,819,779 New Construction Anticipated Sources Estimated Uses Low Income Housing Tax Credits $22,179,253 Hard Costs $37,800,000 Permanent Loan $23,769,065 Soft Costs $5,884,234 Olene Walker Housing Loan Funds $1,000,000 Loan & Bond Costs $2,886,676 Deferred Dev. Fee $2,398,208 Tax Credit & Reserves $1,516,841 Gap Financing $3,600,000 Dev. Fee $4,858,775 Total Sources $52,946,526 Total Uses $52,946,526 Page | 6 D.Other Conditions. 1. The developer would provide the City with a detailed construction schedule that identifies major milestones within 60 days of closing on the property. The developer would update the construction schedule quarterly and provide written notice to the City of any material deviations. 2. The developer hopes to start construction by October 2026, and is required to begin no later than December 2028. Construction of the entire project must reach substantial completion before December 2029. If closing does not occur by June 2027, and construction does not start by December 2028, City could terminate the purchase and sale agreement. 1. Does the Council agree with discounting the value of the properties to $1 million, as discussed above, to enable a sale under the terms proposed? 2. Does the Council wish to request a periodic progress update from the developer given the high profile of this project and length of time it has taken to redevelop the properties? Northwest Pipeline Building Renovation The Grove Development - Public Benefit Analysis Overview The administration is requesting approval of the proposed term sheet for the below-market sale of the Northwest Pipeline property to enable historic preservation, affordable, family -sized housing, and community-serving commercial space Background •2.42 acres at 321 East 200 South •Northwest Pipeline Building, Built in 1958, International Style. •National Register of Historic Places •Public Safety Building from 1979 to 2013 RFP Requirements •Historic Preservation of the NWP Building •ENERGY STAR 90 for new construction •Prioritize leasing to locally owned businesses and neighborhood service providers •Minimize surface parking and visible parking; support multimodal access Background RFP Preferences •Housing Choice: Family-sized units, workforce housing, wealth building opportunities, homeownership. •Year-round public amenities including outdoor seating and gathering space •Art visible from the street by a SLC-based artist •All-electric buildings Background RFP Selection •11 submission to the first stage of the RFP process •13 Selection committee members comprised of City staff/elected officials and community members •Housing Authority, Xylem Projects, and Common Ground Institute’s proposal “The Grove" was selected and announced June 2024 Background Project Overview Commercial Community-serving uses Energy Star 90 New Construction Shared Parking Structure ~100 Stalls15k SF Family-SizedUnits 2+ Bedrooms 51% 196 Units 80% AMI or below with an average of 60% AMI Public Plaza With outdoor art elements The Grove Draft Terms Housing Affordability o All units 80% AMI and below o Average of 60% AMI o Affordability restricted for 50 years, annual reporting MINIMUMS NWP BUILDING: 7 units at 30% AMI 7 units at 40% AMI 7 units at 50% AMI NEW CONSTRUCTION: 14 units at 30% AMI 14 units at 40% AMI 14 units at 50% AMI Wealth Building o Financial coaching, workforce navigation, credit-building tools, and homeownership resources for all residents o Minimum of 16-households eligible for wealth building escrow accounts Draft Terms Housing Unit Size NWP Building New Construction Total Maximum 1- bedroom units 27 60 87 Minimum 2- bedroom units 30 50 80 Minimum 3- bedroom units 6 23 29 Total 63 133 196 Draft Terms Closing o Design review by City staff for RFP compliance o Building permit “Will-issue” letter o Proof of secured financing o Development Agreement, the Right to Repurchase Agreement, Restrictive Use Agreement, and Public Access Easement Timeliness o Closing must occur before June 2027 o Construction must commence before December 2028 o Construction must be complete before December 2031 Financial Request •Appraised Value of $18M •Proposed purchase price of $1M Promissory Note •Years 1 -15: $1/year •Years 16-55: 50% of surplus cash flow •Remaining balance due at year 55 with 3% simple interest. Draft Terms Sources and Uses Developer is pursuing the following funding sources: •Historic Tax Credits, •Low Income Housing Tax Credits, •Olene Walker Housing Loan Fund, •CRA Housing Development Loan and Wealth Building Pilot Program. •CRA awarded $1M HDLP and $1.25M Wealth Building program in 2024 Total Project Cost: $91,766,000 Does not include land cost The Grove Public Benefit Analysis Utah Code 10-8-2 + City Code 2.58 Allows for a below-market sale if it is deemed appropriate and necessary to advance the City’s goals for affordable housing, historic preservation, economic development, job creation, and neighborhood improvement. Legal Framework Public Benefit Analysis Public Benefits •196 affordable homes (30–80% AMI, 60% average), with 51% family-sized units •50-year affordability restriction with annual compliance reporting •Family Self-Sufficiency program and resident wealth-building programs, annual reporting requirement •Community-serving commercial space and plaza, activation of a long -vacant site •Preservation of a historic landmark and transit-oriented development Enforcement •Recorded Restrictive Use Agreement and Development Agreement •Conveyance will not occur until financing, permits, and approvals are secured •Termination rights if closing conditions are not met Benefits and Enforcement Housing Authority of Salt Lake City, Xylem Projects, and Common Ground Institute Existing Conditions Vacant |Fenced |Closed Off | The Grove sponsors Housing Authority of Salt Lake City |Xylem Projects |Common Ground Institute Overview 2.4 Acres Renovation of Historic Northwest Pipeline Building to 63 New Units New 133 Units at 50+%Family Sized Units Public Plaza with Dog Park and Activation New Ground Floor Neighborhood Commercial Center New Landscape & Hardscape in Public Right of Way New Art and Murals Integrated Throughout Activating Vacant Lot in the Heart of Downtown Project Highlights •196 Total New Units at 50+%Family Sized •FSS Integrated Wealth Building Program •Affordable Housing for Workforce Families •Historic Renovation •New Public Plaza ,Art & Neighborhood Center •Progressive Parking •Integrative Adjacent Project Approach •Building Plans Under Review in the City Questions? sponsors Housing Authority of Salt Lake City |Xylem Projects |Common Ground Institute THANK YOU SALT LAKE CITY TRANSMITTAL To: Salt Lake City Council Chair Submission Date: 12/31/2025 Date Sent to Council: 01/09/2026 From: Department * Community and Neighborhood Employee Name: Logan Hunt E-mail Logan.Hunt@slc.gov Department Director Signature Director Signed Date 12/31/2025 Chief Administrator Officer's Signature Chief Administrator Officer's Signed Date 01/08/2026 Subject: Public Beneﬁts Analysis for the renovation of the historic Northwest Pipeline building and new construction Additional Staff Contact: Tammy HunsakerMike Akerlow Presenters/Staff Table dnackerman@haslcutah.org, benmcadams@gmail.com, nnenna@xylem.nyc Document Type Resolution Budget Impact? Yes No Recommendation: Adoption of the resolution allowing the City to sell the Property at a below-market sales price to HAME Background/Discussion See ﬁrst attachment for Background/Discussion Public Hearing Is there a City or State statutory requirement to hold a public hearing for this item?* Yes No The City Council reserves the option to hold and notice for a public hearing pursuant to their practices for public engagement. Does the City have a general practice to hold a public hearing for this item?* Yes No Public Process Competitive RFP for the development team selection. This page has intentionally been left blank ERIN MENDENHALL DEPARTMENT of COMMUNITY Mayor and NEIGHBORHOODS Tammy Hunsaker Director CITY COUNCIL TRANSMITTAL Date Received: Date Sent to Council: Jill Love, Chief Administrative Officer TO: Salt Lake City Council DATE: 12/30/2025 Chris Wharton, Chair FROM: Tammy Hunsaker, Director, Department of Community and Neighborhoods (CAN) SUBJECT: Public Benefits Analysis for the renovation of the historic Northwest Pipeline building (the “NWP Building”) and the construction of a new mixed-use building with affordable residential units in exchange for a below-market sale of the NWP Building and approximately 2.42 acres of vacant City-owned property located at approximately 321 East 200 South (the “Property”). STAFF CONTACT: Logan Hunt, Real Estate Services Director, 801-634-9054 logan.hunt@slc.gov DOCUMENT TYPE: Resolution RECOMMENDATION: Adoption of the attached resolution allowing the City to sell the Property at a below-market sales price for a development team consisting of Housing Assistant Management Enterprise, Xylem Projects, and Common Ground Institute to renovate the NWP Building and construct a mixed-use apartment building with 196 affordable housing units, including a minimum of 51% units with two or more bedrooms, 16 households will be eligible for the Family Self-Sufficiency (FSS) Program, a voluntary 5-year incentive program that aims to help families increase their earnings and build equity, a minimum of 15,000 square feet of ground-floor & basement commercial space available to locally owned businesses and/or neighborhood service providers, and a publicly accessible plaza. The below-market sale ensures the feasibility of these community benefits and the preservation of a historic structure. BUDGET IMPACT: N/A BACKGROUND/DISCUSSION: In 2024, the City issued an RFP with the goal of partnering with a development team for the development of the Property. Housing Assistance Management Enterprise (HAME), a Utah nonprofit affiliated with the Housing Authority of Salt Lake City (HASLC), in partnership with Xylem Projects, and Common Ground Institute, (collectively the “Developer”), were ultimately selected by a selection committee comprised of City staff, elected officials, and community members. The Developer’s proposal was selected because of the numerous public benefits proposed in alignment with the RFP requirements and preferences, as further outlined herein. Since then, the Administration has been working with the Developer on required steps to structure, design, and finance the project. Developer is an experienced, mission-driven team that has made significant progress on due diligence and design of the forthcoming project. Extensive work has been completed to vet and apply for creative funding sources. Despite considerable effort, financing the project has proven to be challenging due to costs associated with historic preservation requirements and the integration of various other public benefits, rising construction costs, a changing rental housing market, a challenging lending market, the discontinuation of various federal programs and resources, and a loss of the ability to obtain certain tax credit equity that was once available to the project. To date, the Developer has only obtained a small fraction of the funding necessary to develop the project. The Developer is requesting that the City approve the terms of a discounted land sale to continue to commit resources to the project and to position the project to be viable for a Low-Income Housing Tax Credit (LIHTC) award. If the City Council elects to approve the discounted sale terms, the approval will be contingent upon the Developer fulfilling various requirements prior to the conveyance of the Property. These requirements include, but are not limited to, demonstration that sufficient financing has been obtained to construct the project as agreed upon, successful completion of a design review process, fulfillment of zoning and building permit requirements, and the execution of various legal agreements including a restrictive use agreement, development agreement, and right to repurchase agreement. As such, approval of the discounted sales price will greatly increase the feasibility of the project and accelerate the Developer’s ability to obtain financing while still providing assurances to the City. If the Developer is unable to fulfill requirements by June 30, 2027, the City may terminate agreements to convey the Property. Of note, the Developer is required to have site control of the Property to apply to the LIHTC program. Initially, the Administration and Developer were preparing to structure the conveyance of site control through a land lease option agreement rather than a purchase and sale agreement. A few months ago, we learned that a fully executed land lease, rather than a lease option agreement, would be required to apply to the LIHTC program. The RFP requires the fulfillment of certain conditions prior to conveying the Property, effectively preventing the City from executing a land lease prior to the Developer obtaining sufficient financing. As such, the Administration and Developer are now proposing a land sale structure. Background Salt Lake City purchased the NWP Building in the 1980s. The Property was used for many years to house public safety operations, including Police, Fire, and 911 dispatch services. In 2013, these functions were relocated to the new Public Safety Building at 475 S 300 E near Library Square, and the Property has remained vacant ever since. In 2015, the City issued an RFP for development of the Property. The development proposal that was selected by the City included the construction of the Magnolia project immediately to the north; adaptive reuse of the NWP Building; the development of a new residential building and parking structure; and open space. In 2021, the Magnolia opened to provide sixty-five units of permanent supportive housing for persons that have experienced homelessness. However, the other components of the 2015 development proposal did not move forward. In 2024, the City issued an RFP for development of the remainder of the Property. The selection process was based on the criteria of the RFP, following a two-phase procurement process. The criteria included the following requirements: 1. The preservation and rehabilitation of the historic NWP Building consistent with the Secretary of Interior’s Standards for Rehabilitation. 2. The design of any new construction buildings to achieve a “Designed to Earn ENERGY STAR” score of 90 or higher, or a Design Target Site Energy Use Intensity “EUI” value corresponding with such a score. 3. Demonstrated support for local entrepreneurship and small businesses by providing commercial space preference commitments for locally owned businesses and/or neighborhood service providers. 4. Progressive parking strategies that limit surface parking and the visibility of parking, including parking structures, from the street and encourage multimodal transportation use to reduce the number of parking stalls required for the Project. In addition to these requirements, the following preferences were part of the RFP criteria: 1. Increased opportunities for homeownership and other wealth and equity building, expand workforce housing, and/or develop family-sized housing units with 3+ bedrooms. 2. Provide elements such as seating, bicycle parking, outdoor dining, and social gathering. Public amenities shall be functional year-round and provide an attractive and inviting space that can be utilized by Central City residents, development patrons, transit riders, and pedestrians. 3. An element of diverse art that reflects the history, culture, community, and natural history of the region. The art element shall be clearly visible to the public from the street and contribute to an enhanced pedestrian experience. Artists shall live and/or work in Salt Lake City. 4. Developments (new construction) that are designed to operate without on-site fossil fuel combustion (i.e. propane, natural gas). Project Overview The Developer will form one or more single purpose entities to develop the project. The Purchase and Sale agreements will be between the City and the single purpose entity or between the City and HAME. Highlights of the Project, called “The Grove” are as follows, with additional details included in Exhibit B: Resolution and Term Sheet and Exhibit C: Informal Public Benefits Analysis. 1. Project Overview The Project is proposed to include the following: ● The preservation and rehabilitation of NWP Building, which will include a minimum of 63 rental housing units. ● The construction of a new residential building, with a connected parking podium, which will include a minimum of 133 rental housing units. ● A minimum of 51% of all housing units shall be designed as family-sized, with two or more bedrooms. With no less than 80 two-bedroom units and 29 three-bedroom units or above. ● A minimum of 15,000 square feet of commercial space prioritized for locally owned businesses and/or neighborhood service providers, which includes space intended for a daycare, fresh food service, health care services, or other neighborhood-oriented services. ● Approximately 100 stalls of shared parking for the residents. ● An exterior publicly accessible plaza which includes artistic paving, seating, plantings, and shade elements conducive to social engagement. Art elements will prioritize street level pedestrian experience and visibility including wall murals and other forms of art. ● The design of the new construction buildings will achieve a “Designed to Earn ENERGY STAR” score of 90 or higher, or a Design Target Site Energy Use Intensity “EUI” value corresponding with such a score. 2. Affordable Housing and Tenant Selection Currently, the Developer proposes to pursue Low-Income Housing Tax Credits (“LIHTC”) This approach targets 4% LIHTC awards while maintaining flexibility to pursue 9% LIHTC award(s). The project shall include units affordable and restricted to households earning up to the following AMI: o NWP BUILDING: ▪ A minimum of 7 units at 30% AMI ▪ A minimum of 7 units at 40% AMI ▪ A minimum of 7 units at 50% AMI o NEW CONSTRUCTION: ▪ A minimum of 14 units at 30% AMI ▪ A minimum of 14 units at 40% AMI ▪ A minimum of 14 units at 50% AMI All remaining units will be affordable and restricted to households making 80% of the area median income (AMI) and below, with an average of 60% of AMI Additionally, the Developer will affirmatively and aggressively market living units to public health and public safety workers. This includes public employees such as law enforcement, emergency response, critical health, fire response and prevention, and other public health and safety workers. 3. Historic Renovation and Environmental Developer has planned the rehabilitation and restoration of the NWP to comply with National Park Service Secretary of the Interior’s Standards for Rehabilitation. Both interior and exterior elements that contribute to the NWP’s historic and architectural significance shall be preserved and restored. 4. Site Activation The Project as designed will activate the Property, which is currently vacant. In addition to creating 196 homes, the Project will create new commercial space for small and local businesses that will benefit from the project’s prime location near the City’s central business district. The commercial space is intended to target community service providers and is envisioned to include uses such as daycare, healthy food and beverage vendors, and healthcare providers. These new uses will promote street activation, provide Central City residents with valuable services, and help address the nuisance activities that have arisen while the property has sat vacant for many years, resulting in frequent complaints to the City from neighboring residents and businesses. 5. Equity Building Developer has committed to reserving a minimum of 16 units in the Project as eligible to participate in the Family Self-Sufficiency (FSS) Program, a voluntary 5-year incentive program that aims to help families increase their earnings and build equity for homeownership readiness. All qualified residents are invited to participate in the (FSS) program. The FSS Program includes two key features – a financial incentive for participants to increase their earnings in the form of an escrow savings account that increases as their earnings increase, and case management or coaching to help participants access services they may need to overcome barriers to employment, strengthen their financial capability, and address other challenges holding them back from achieving financial independence. Financial, homeownership, and career growth courses will be available to all residents, regardless of their participation in the (FSS) program. Additionally, a discounted realtor service will assist residents on their journey to homeownership. 6. Project Phasing Two separate purchase agreements will be executed for the NWP Building and the new construction respectively. Depending on the Developer’s timeline for construction, the agreements, and corresponding development agreements, may be executed at the same time or at separate times. The renovation of the NWP Building shall be completed prior to or concurrently with the new construction building unless approved per the term sheet. 7. Development Viability Developer estimates that the Project’s anticipated sources and estimated uses are as follows: *To date, the CRA has only approved a portion of this amount. As of September 3, 2025 The majority of costs will be covered by LIHTC, Historic Tax Credits, and loan funds. The fund-raising status is as follows: ● 4% LIHTC federal funding application to be submitted in February of 2026 ● 9% LIHTC state funding application to be submitted in Q2/Q3 2026 ● CRA HDLP and Residential Wealth Building funds ● Housing Authority bond issuance and/or private debt ● Historic Tax Credits 8. Project Need The Project is advancing during an unusually challenging period for affordable housing development. Persistent economic uncertainty, elevated interest rates, and continued escalation in construction and labor costs have materially increased total development costs, while available financing tools have been constrained. Recent federal changes affecting the Low-Income Housing Tax Credit (LIHTC) program have reduced the overall value of credits. In addition, other financing tools the development team intended to pursue have been eliminated or severely strained under current market conditions and are no longer feasible. These impacts are being felt across the market, with multifamily development slowing significantly and affordable housing projects facing heightened feasibility challenges. Compounding these conditions, the project site was removed from Qualified Census Tract designation this year, resulting in a substantial reduction in potential equity and limiting access to key LIHTC basis boosts that are often critical to project viability. The following quantified items represent discrete, project-specific conditions that necessitate a reduction below fair market value, though they do not fully capture the additional unquantifiable pressures contributing to the project’s financing gap. • Qualified Census Tract removal, an approximately $8.7 MM loss in equity. • Asbestos remediation for the Historic NWP building at approximately $3.23 MM. • Historic Building restoration at approximately $1.78 MM • Integration of art visible to the public along 200 South by local artist at approximately $200,000. • Publicly accessible plaza with amenities including a dog park and event spaces at approximately $1.64 MM. PUBLIC PROCESS: Any adjustment to the purchase price from fair market value will be subject to approval by the City Council pursuant to §10-8-2 and City Code 2.58. Accordingly, the City has completed a public benefits analysis (“PBA”) that includes the: A. specific benefits the municipality will receive in return for discounting the property or lease; B. the municipality's purpose for the discount, including an analysis of the way the appropriation will be used to enhance the safety, health, prosperity, moral well-being, peace, order, comfort, or convenience of the inhabitants of the municipality; and C. whether the discount is necessary and appropriate to accomplish the reasonable goals and objectives of the municipality in the area of economic development, job creation, affordable housing, elimination of a development impediment, job preservation, the preservation of historic structures and property, and any other public purpose. The majority partner is HAME, a Utah nonprofit organization. Under Utah Code, formal analysis of the benefits to be received by the City is not required for nonprofit organizations. The two minority partners are for-profit organizations, and, as such, a formal public benefit analysis applies under Utah Code. EXHIBITS: A. Site Map B. Resolution and Term Sheet C. Public Benefits Analysis EXHIBIT A: SITE MAP EXHIBIT B: RESOLUTION & TERM SHEET RESOLUTION NO. OF 2026 (Authorizing the Sales Price and Term Sheet for The Grove Project located at 321 East 200 South, Salt Lake City) WHEREAS, Housing Assistant Management Enterprise (“HAME”), a Utah nonprofit corporation affiliated with the Housing Authority of Salt Lake City (“HASLC”), in partnership with Xylem Projects, a for-profit entity, and Common Ground Institute, a for-profit entity, (collectively the “Developer”), desires to develop a project known as The Grove that includes the renovation of the historic Northwest Pipeline building (the “NWP Building”) and construction a new building, a parking structure, public plaza, and art elements (the “Project”); and WHEREAS, the Project will include affordable housing, family-sized housing, a wealth building program for residents, neighborhood-serving commercial space, and a publicly accessible plaza, as further described on the attached term sheet (the “Term Sheet”); and WHEREAS, Developer and the City desire to locate the Project on approximately 2.42 acres of the real property owned by the City and located at 321 East 200 South, Salt Lake City (the “Project Site”); and WHEREAS, the primary beneficiaries of the Project will be households with an average annual income of 30% to 80% of Salt Lake City’s area median income (“AMI”); and WHEREAS, Developer will ensure that historic renovations of the NWP Building are compliant with guidelines published by the National Park Service Secretary of the Interior’s Standards for Rehabilitation; and WHEREAS, a below-market sale of the Project Site to Developer is necessary and appropriate to facilitate the development of the Project, which would otherwise be financially unfeasible; and Project Site for a total purchase price of $1,000,000 (“Sales Price”), payable pursuant to the terms of one or more subordinate, 55-year promissory notes; and WHEREAS, Utah Code Section 10-8-2 allows public entities to provide non-monetary assistance to the Developer after performing an analysis of the tangible and intangible benefits received by the municipality (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. NOW, THEREFORE, BE IT RESOLVED by the City Council of Salt Lake City, Utah, as follows: 1. 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 Sales Price is appropriate under these circumstances. 2. The terms outlined on the Term Sheet represent the approved terms for the Project, and the City Council hereby authorizes the City administration to negotiate the final terms consistent with the Term Sheet or more beneficial to the City, and execute the sale and any other relevant documents consistent with this Resolution and incorporating such other terms and agreements as recommended by the City Attorney’s office. 3. This approval of the Sales Price shall expire in the event the Developer, after having all opportunities to cure under the PSA, does not close on Property by June 30, 2027. [Remainder of page intentionally left blank] Passed by the City Council of Salt Lake City, Utah, on ____________, 2026. SALT LAKE CITY COUNCIL CHAIRPERSON ATTEST: CITY RECORDER APPROVED AS TO FORM: Salt Lake City Attorney’s Office Allison Parks, December 30, 2025 Allison Parks, Deputy City Attorney EXHIBIT TO RESOLUTION The Grove Project Term Sheet PURCHASE AND SALE TERMS consisting of a minimum of 196 units, that are a mix of one, two, and three-bedrooms, with the units affordable to households at 80% of the area median income (AMI) and below, as further defined herein, and the opportunity for a minimum of 16 households to participate in the Family Self-Sufficiency Program. The project will include both new construction as well as the renovation of the historic Northwest Pipeline building (“NWP Building”); a minimum of 15,000 square feet ground floor and basement level neighborhood commercial space targeted to neighborhood service providers including a daycare with a play structure, healthy foods and beverages, and healthcare; progressive parking strategy; energy star 90 for the new construction; publicly-visible art and the Owner: Grove Properties, LLC, or one or more other special purpose entities owned or to be owned by Housing Assistance Management Enterprise (“HAME”). Xylem Projects LLC (“Xylem”) and Common Ground Institute LLC (“CGI”), or affiliates thereof, may attributed to the land and $660,000 attributed to the building, as determined by an agreed upon appraisal dated November 4, 2025. Prior to closing, this appraisal may be updated Market Value: requesting that the appraised value be discounted to $500,000 for the NWP Building, and $500,000 for the New Construction Parcel, for a total sales price of $1,000,000, limited to: 4% or 9% federal low-income housing tax credits (“LIHTC”); tax-exempt bonds; state low-income housing tax credits; historic tax credits; an owner’s note including property; project-based voucher enhancement; state transportation infrastructure funds; CRA or Housing Stability funds; deferred developer fee; Olene Requirements: anticipated to be at the time of the Developer’s tax credit closing. Closing will occur after the following conditions are met in its entirety or for each respective phase: • Developer and City shall have agreed on the terms and form of various agreements including a Development Agreement, Public Access Easements, the Right to Repurchase Agreement, and Restrictive Use Agreement. These documents shall be recorded immediately after the deed. • Developer shall have prepared and recorded, or will record at Closing, an amended plat with Salt Lake County. • Developer shall have received all necessary zoning approvals to commence construction of the Project. • Developer shall provide evidence of adequate parking plan to meet zoning requirements. Plan shall include interim parking strategy and schematic design and development timeline of the proposed parking structure located within the • Developer shall provide evidence, in a form acceptable to the City, of a fully executed long-term parking lease or other binding parking agreement with Magnolia securing the use of eight parking stalls. • Developer shall provide the City with verification of construction and long- term financing and obtain a payment and performance bond prior to closing. • Closing on the property shall take place simultaneously with the closing on the development’s financing, issuance of a “will issue” building permit letter, and approval by the internal staff review committee established by the City of the final design and construction documents and schedule of development. • Developer shall demonstrate that the Northwest Pipeline building shall be constructed to conform to guidelines either provided by or consistent with the National Park Service Secretary of the Interior's Standards for Rehabilitation and such standards shall be referenced in the Development Agreement. • Developer shall demonstrate that the development shall be designed to achieve a “Designed to Earn ENERGY STAR” score of 90 or higher or a Design Target Site Energy Use Intensity (“EUI”) value corresponding with such a score that is generated by the Designed to Earn ENERGY STAR and such standards shall be referenced in the Development Agreement. • Developer shall have satisfied all the requirements necessary for the NWP Building and New Construction respectively. Developer shall pay the City cash flow payments as follows: • Initial Compliance Period: A payment of $1 per year shall be made until the end of the LIHTC compliance period. The LIHTC compliance period shall be 15 years after the Certificate of Occupancy is received and pursuant to Section 42 of the Internal Revenue Code. • Post-Compliance Period: Beginning upon the expiration of the LIHTC compliance period, an annual payment of 50% of surplus net cash flow. If net cash flow is not available in a particular year, the payment will not be less than $1 per year. Developer shall annually submit to the City financial documentation, in a form and level of detail acceptable to the City, sufficient to verify the calculation of surplus cash flow and the amount, if any, payable on the promissory notes. The promissory notes shall accrue interest at a simple, non-compounding, annual rate of three percent (3%) per annum starting at year 15, however, no interest payments shall be due prior to final maturity. At final maturity, only the interest that accrued on the outstanding unpaid principal balance will be applied to final payment. The promissory note shall have a final maturity in Year 55, at which time any unpaid principal balance and the accrued interest on the unpaid principal balance shall be immediately due. There shall be no automatic forgiveness. Any unpaid balance and accrued interest shall become immediately due and payable upon sale, transfer, or refinancing of the Property, subject to senior lender’s consent. Agreement(s) recorded by Utah Housing Corporation, LIHTC investors and other senior lenders. In addition, the cash flow may be subject to standstill provisions as may be Requirement: agreements and closing has not occurred by June 30, 2027, after all opportunities to Developer shall provide the City with a detailed Construction Schedule within 60 days of Closing, identifying major milestones. Developer shall update the Construction Schedule quarterly and provide written notice to the City of any material deviations. Developer shall meet the following milestones: • Commence Construction – NWP Building: No later than 18 months following the Closing. • Commence Construction – New Construction: No later than 24 months following Closing. • Substantial Completion – NWP Building: No later than 30 months following the Construction Start. • Substantial Completion – New Construction: No later than 30 months Requirement: developed and continuously operated as affordable housing 80% AMI and below, with units affordable and restricted to households earning up to the following AMI: NWP BUILDING: • A minimum of 7 units at 30% AMI • A minimum of 7 units at 40% AMI • A minimum of 7 units at 50% AMI NEW CONSTRUCTION: • A minimum of 14 units at 30% AMI • A minimum of 14 units at 40% AMI • A minimum of 14 units at 50% AMI The NWP Building shall contain a minimum of 63 total units, and the new construction shall contain a minimum of 133 total units. All remaining units will be held at affordability levels that are in compliance with LIHTC requirements at 80% AMI and below with an average of 60% AMI for all units dependent on 4% LIHTC or 9% LIHTC applications. Compliance of affordability and occupancy requirements shall be demonstrated through an annual report submitted to the City. A Restrictive Use Agreement shall be recorded against the Property at closing. The agreement shall be recorded immediately after the deed, run with the land, bind all successors and assigns, and remain in full force and effect for a term of fifty years from certificate of occupancy. All restrictions contained in this agreement shall survive Sufficiency: the Family Self-Sufficiency (FSS) Program, a voluntary 5-year incentive program that aims to help families increase their earnings and build equity with an emphasis on homeownership opportunities. The FSS Program includes two key features – a financial incentive for participants to increase their wealth in the form of an escrow savings account that increases as their earnings increase, and case management or coaching to help participants access services they may need to overcome barriers to employment, strengthen their financial capability, and address other challenges holding them back from achieving their goals. Developer shall provide an annual report summarizing and case management services, credit-building tools, savings or equity building opportunities, and workforce navigation. Developer will provide access to a discounted real estate agent service to assist residents on their journey to homeownership. Developer shall provide an annual report summarizing participation, outcomes, and Project: modification constitutes a material change from the proposed Project. For purposes of the Agreement, a “material change” means a modification that substantially deviates from the proposed Project and, with respect to any terms involving numbers or percentages, results in a change by more than 10%. Developer shall provide City with written notice of any such minor modification, including without limitation any changes specified by the City’s Building Services or Planning Departments. Developer shall not make any material change to the proposed Project without City’s approval, which Building will include a minimum of 30 2-bedroom units and 6 units 3-bedroom or more. The new construction shall have a minimum of 50 units as 2-bedroom units and 23 units Commercial Uses: and an additional 5,500 square feet in the basement of the NWP Building. The majority of the 200 South facade shall be ground floor commercial. Developer shall make efforts to reserve and lease the ground-floor commercial spaces to community-serving uses, specifically healthcare providers, childcare operators, or healthy food and beverage retailers. Developer shall actively market these spaces to such users for a minimum of 4 months following receipt of a certificate of occupancy. If, after commercially reasonable efforts and documented outreach, the Developer is unable to secure a qualified tenant from these categories, the City may approve alternative commercial uses that remain compatible with the project’s community benefit goals. Any proposed pivot shall include evidence of marketing efforts, a summary of prospective tenants, and a demonstration that the alternative use maintains or advances public health, wellbeing, or Secretary of the Interior's Standards for the Treatment of Historic Properties. design and construction documents for review and approval. So long as the Design Documents comply with Developer’s proposal to City in response to City’s RFP and subsequent interview with Developer’s selection advisory committee, City shall not higher or a Design Target Site Energy Use Intensity (“EUI”) value corresponding with such a score that is generated by the Designed to Earn ENERGY STAR tool and structures, from the street, and promote parking efficiencies and shared parking between located on the Property. Developer may, at its discretion, incorporate these stalls into a structured parking facility or reconfigure their location elsewhere on the site. In all cases, eight stalls shall be reserved for exclusive use by The Magnolia. Developer and The Magnolia shall negotiate a new long-term parking lease at a nominal fee, reflecting the reconfigured parking arrangement, which shall be subject to City approval. During construction, Developer shall commit to providing continuous parking availability for Fair Housing: comply with federal fair housing laws and tenant selection policies pursuant to the low- income housing tax credit (LIHTC) program or its successor. The Developer will affirmatively and aggressively market most living units to “public safety and security” workers. The broad category of public employees includes law enforcement, emergency response, critical health, emergency capital work, fire response and prevention, air quality, related education fields, emerging training and other public safety worker Requirement: status, including the submission of audited financial statements, and sufficient historic Northwest Pipeline building and therefore may developed in two phases. The renovation of the Northwest Pipeline building will be completed prior to or concurrently with any new construction. Special conditions for the new construction to start prior to the NWP Building shall be reviewed by the City and approved at City’s sole discretion. Approval shall only be granted if Developer provides a parking plan and evidence that renovation of the Northwest Pipeline Building will commence within 90 days of the new construction. Such circumstances or special conditions shall include: • site preparation and grading of new construction • crane coordination between both NWP Building and New Construction • all uses of LIHTC extensions have been exercised and further delay would result in guaranteed loss of credits EXHIBIT TO RESOLUTION PUBLIC BENEFIT ANALYSIS MEMORANDUM TO: City Council Members SUBJECT: Analysis of Public Benefits Provided by Housing Assistance Management Enterprise’s Redevelopment of the Northwest Pipeline Property “The Grove” in Exchange for a Below-Market Rate Sale of Property INTRODUCTION Salt Lake City (the “City”) owns real property located at approximately 321 East 200 South, Salt Lake City, consisting of approximately 2.42 acres and the historic Northwest Pipeline building (the “NWP Building”), collectively the “City Property” which was previously used as the City’s police and fire headquarters until those departments were relocated in 2013. A development team consisting of Housing Assistance Management Enterprise (HAME), Xylem Projects, and Common Ground Institute, (collectively “the Developer”) was selected through a competitive Request for Proposals (“RFP”) process for the adaptive reuse of the NWP Building and the redevelopment of the vacant City Property. Developer’s proposal includes the renovation of the NWP Building, the construction of a new building, and other associated amenities. The NWP Building and newly constructed buildings will include 196 residential units, at least 51% of the residential units will be two or more bedrooms. Units will be deed restricted and made affordable to households earning an annual average income equal to or less than 60% of area median income (AMI). Developer will designate a minimum of 16 units for the voluntary 5-year Family Self-Sufficiency (FSS) Program to help families increase income and build equity. The ground floor and basement of the buildings are proposed to include a minimum 15,000 square feet of ground floor and basement commercial space reserved for neighborhood-serving commercial uses such as a daycare, healthcare services, and healthy food and beverage establishments. The site will also include a publicly accessible plaza (the “Project”) As set forth in more detail below, in consideration for the renovation of the NWP Building, the development of affordable and family-sized housing, the FSS program, and the inclusion of a daycare and other community-serving commercial uses, Developer requesting the City approve a discounted sales price of the City Property (the “Sale”). Any adjustment to the purchase price from fair market value is subject to approval by the City Council pursuant to Utah Code 10-8-2 and City Code 2.58. Accordingly, this public benefits analysis (“PBA”) has been prepared to help the City Council’s evaluation of the recommended action. LEGAL FRAMEWORK Under Utah law, after first holding a public hearing, a municipal body may appropriate funds “for any purpose that, in the judgment of the municipal legislative body, provides for the safety, health, prosperity, moral well-being, peace, order, comfort, or convenience of the inhabitants of the municipality.” The factors that must be considered by the City Council in determining the propriety of making such an appropriation or waiver to any type of entity or individual other than a nonprofit entity are set forth under Utah Code §10-8-2(3)(e). The factors include: (1) The specific benefits (including intangible benefits) to be received by the City in return for the arrangement; and (2) The City’s purpose in making the appropriation, including an analysis of how the safety, health, prosperity, moral well-being, peace, order, comfort or convenience of the residents of Salt Lake City will be enhanced; and (3) Whether the appropriation is “necessary and appropriate” to accomplish the reasonable goals and objectives of the City in the areas of economic development, job creation, affordable housing, blight elimination, resource center development, job preservation, the preservation of historic structures and property, and any other public purpose. BACKGROUND OF THE PROJECT AND CITY PROPERTY The City Property consists of approximately 2.42 acres and includes two vacant structures. The NWP Building, which is the primary structure, is a nine-story building built in 1958 by the Pacific Northwestern Pipeline Corporation. The NWP Building was designed by architects Slack and David Winburn in the “International Style.” It is one of two buildings in this style in Salt Lake City. The NWP Building is on the National Register of Historic Places, is therefore required to be rehabilitated in a manner that conforms to guidelines provided by the National Park Service Secretary of the Interior’s Standards for Rehabilitation as part of its redevelopment. The City Property was acquired by the City in the 1980s and was used for many years to house public safety operations, including Police, Fire, and 911 dispatch services. The NWP Building was remodeled after its acquisition by the City. The interior has been modified over the years, though the exterior of the building has been largely left intact. The facility was vacated in 2013 when the City’s public safety operations were relocated into the new public safety building at 475 South 300 East. In 2015, the City issued an RFP for the development of the City Property, along with the property immediately to the north that has since been developed as the Magnolia project, which provides affordable housing and supportive services for people that have experienced homelessness. The proposal that was selected in 2015 included the construction of the Magnolia, adaptive reuse of the NWP Building, the development of a new residential building and parking structure, and open space. The Magnolia project was completed in 2021; however, the other components of the 2015 development proposal did not move forward. In 2023, the City released a new RFP to identify an experienced development team to renovate the NWP Building and develop the vacant properties to contribute to the City’s livability goals and support the surrounding neighborhood. A selection committee comprised of elected officials, City staff, and community members selected the Developer as the development partner and has supported the Developer through the predevelopment process. TERMS OF THE SALE AND PUBLIC BENEFITS PROVIDED I. Terms of Sale Developer’s Project that will provide housing affordable to households earning between 30% and 80% AMI for at least 50 years. The Project, called The Grove, is located along 200 South, which is the busiest transit corridor in the State of Utah, used by 34 buses an hour. The Project will activate this underutilized City Property, which has sat vacant for many years and attracted nuisance activities, resulting in frequent complaints to the City from neighboring residents and businesses. Construction of the Project is anticipated to start by September of 2026, with estimated completion of construction in 2028, according to the Developer. The Project will be comprised of two buildings — the NWP Building and a new construction building with a shared parking structure. 63 residential units (27 one-bedroom units, 30 two-bedroom units, and 6 three- bedroom units) will be included as part of the adaptive reuse of the NWP Building, with the remaining 133 units in a new construction building. 16 residential units will be designated as eligible to participate in the Housing Authority of Salt Lake City’s Family Self-Sufficiency (FSS) Program, a voluntary 5-year incentive program that aims to help families increase their earnings and build equity. Developer will preserve the existing historic facade and restore the remaining historic interior elements at the NWP Building. The ground floor and basement of the NWP Building will include approximately 5,500 square feet of commercial space, and an additional 5,500 square feet of commercial space in the basement level. Commercial spaces will be specifically targeted at community-serving uses, including daycare, healthcare services, healthy food and beverage, and event spaces. The new construction buildings will include screened parking for approximately 86 stalls. Shaded community gathering space and public art installations will be included as part of the creation of a central, publicly accessible plaza on the City Property. The City has entered into an agreement for the NWP Building and its associated parcel. This agreement allows for the sale of the property at fair market value. The City intends to amend the agreement to sell the NWP Building and enter into a new agreement to sell the City Property (at the rate approved by City Council) pending Developer’s completion of certain closing requirements, which shall include the execution of a Development Agreement for the Project. Before closing on the Sale of the City Property to Developer for the Project, the City and Developer have agreed that Developer must demonstrate evidence of construction and permanent financing, and that the NWP Building shall be constructed to conform to guidelines either provided by or consistent with the National Park Service Secretary of the Interior’s Standards for Rehabilitation. Developer must also demonstrate that the Project’s new construction building shall be designed to achieve a “Designed to Earn ENERGY STAR” score of 90 or higher. Developer shall have satisfied all the requirements necessary for the commencement of site preparation and construction of the Project improvements. Developer intends to finance the Project using Low-Income Housing Tax Credits, Housing Authority bond debt and/or private debt, historic tax credits, and other awards and grants. The City’s financial contribution in the form of a below-market rate sale is essential to making The Project financially feasible given the significant cost of historic rehabilitation, affordable housing construction, and inclusion of public-serving amenities that generate limited or no operating revenue. The City’s support directly enables the transformation of a long-vacant site into a productive community asset that advances the City’s objectives. In exchange for the public benefits that Developer will be providing by creating family-sized affordable housing and community-centered commercial space that includes a daycare facility healthcare services and healthy food and beverage providers; by rehabilitating and preserving the historic NWP Building; by supporting the revitalization and activation of a currently vacant City- owned property; and by promoting opportunities for renters to build equity; Developer is requesting that the City approve a below-market rate Sale of the City Property. II. Costs to the City Under the proposed Sale between the City and Developer, the City will convey the Project Site, for $500,000 for the NWP Building property and $500,000 for the New Construction property, for a total of $1,000,000. The sales price is payable to the City in the form of subordinate promissory notes effective from certificate of occupancy. Payments shall be $1 each year for fifteen years. Following this initial period until year 15, Developer shall pay 50% of any positive surplus cash flow generated from the Project, not less than $1 per year. After year fifteen, the promissory notes shall accrue interest at a simple, non-compounding, annual rate of three percent (3%) per annum, however, no interest payments shall be due prior to final maturity. Only the interest on the outstanding unpaid principal balance at maturity will be applied to final payment due upon maturity. The sale will require that the City Property will be used solely for the Project, including but not limited to the development and operation of the renovated NWP Building, a new construction building, and the public plaza. The appraised value as of March 24, 2025, for the City Property is $18,050,000, with $17,390,000 attributed to the land and $660,000 attributed to the building. The appraised value may be updated prior to the City’s conveyance of the Property. The below-market sale would be offered as the City’s contribution to providing solutions for historic preservation, affordable and family-sized housing, and community services. The City will not have any responsibility for remediation, design, construction, operation, or maintenance of the City Property or Project. II. Public Benefits Provided by the Project. The below-market sale is necessary to unlock these public benefits. The City’s contribution bridges a financing gap that private capital alone cannot fill due to the project’s affordability commitments, costly historic preservation standards, and inclusion of non-revenue community amenities. This investment ensures that the redevelopment of the Northwest Pipeline site delivers lasting value. The Project provides numerous benefits to the City and promotes the City’s reasonable goals and objectives to preserve historic structures, increase the availability of affordable housing, improve housing stability, and increase opportunities for homeownership and other wealth and equity-building opportunities for families. Residents of the Project will be provided with access to secure screened parking and will be encouraged to take advantage of the frequent transit service available on 200 South. Commercial tenants will benefit from the project’s prime location near the City’s central business district and increased foot traffic generated by the new residents and guests. The Project will also provide residents and community members with access to a variety of community-centered businesses, including childcare, healthcare services, healthy food and beverage providers, and other small, local businesses. The addition of these businesses and services providers may create additional job opportunities for community members. Developer shall designate at minimum 16 units in the Project as eligible to participate in the Housing Authority of Salt Lake City’s Family Self-Sufficiency (FSS) Program, a voluntary 5- year incentive program that aims to help families increase their earnings and build equity. The FSS Program includes two key features – a financial incentive for participants to increase their earnings in the form of an escrow savings account that increases as their earnings increase, and case management or coaching to help participants access services they may need to overcome barriers to employment, strengthen their financial capability, and address other challenges holding them back from achieving their goals. Through FSS, as participating households increase their income, the additional rent that would normally be paid to the Developer is instead deposited into an interest-bearing escrow account, building savings over time. Coupled with individualized coaching, this structure enables families to strengthen their financial stability, reduce reliance on subsidy, and accumulate meaningful resources. In Salt Lake City, many graduates of the program have successfully used their escrow savings as down payments to purchase homes. By embedding FSS into this Project, the City will expand opportunities for current and future residents to transition from renting to homeownership, creating long-term stability and wealth-building for Salt Lake families. The Project is also designed as a transit-oriented development (TOD) that leverages the Property’s prime location along 200 South, the state’s busiest transit corridor and the route of the new bus rapid transit (BRT) line. By locating affordable housing, neighborhood-serving businesses, and community amenities directly adjacent to high-frequency transit, the Project will maximize opportunities for residents and patrons to reduce reliance on automobiles. This design supports Salt Lake City’s Climate Positive 2040 goals by encouraging walking, cycling, and transit use, thereby reducing vehicle trips, lowering greenhouse gas emissions, and improving air quality. Reduced automobile usage will also directly contribute to climate resilience by lessening local air pollution and mitigating urban heat impacts associated with heavy traffic. The Project’s TOD features advance the City’s adopted Housing SLC (2023–2027) and Thriving in Place anti- displacement strategy, which both encourage transit-oriented development and the use of public land as critical tools for ensuring long-term affordability and equitable neighborhood growth. In doing so, the Project will reduce combined housing and transportation costs for households while strengthening the viability of the City’s investment in high-capacity transit. The Project will generate significant economic vitality by bringing new residents, businesses, and community services to a long-vacant property in the heart of the City. More than 250 new residents will increase local purchasing power and strengthen neighborhood retail, while the Project’s minimum of 15,000 square feet of commercial space will be prioritized for locally owned businesses and neighborhood-serving providers. This focus on small business development and entrepreneurship will create new job opportunities, diversify the local economy, and ensure that the benefits of redevelopment circulate within the community. By combining affordable housing with accessible commercial services, the Project will catalyze a more vibrant, walkable district that attracts additional investment and enhances the overall economic resilience of Salt Lake City’s Central City neighborhood. The Project will also contribute to increased neighborhood safety. By transforming a long-vacant property into an active mixed-use development, the Project will eliminate blight and reduce nuisance activities that have historically generated frequent complaints from nearby residents and businesses. The addition of housing, commercial space, and community amenities will create a consistent community presence that enhances visibility and fosters a safer pedestrian environment. Reduced reliance on automobiles will also improve traffic safety by lowering the number of vehicle trips, thereby reducing the risk of collisions and creating safer conditions for pedestrians, cyclists, and transit riders. The City will also benefit from the revitalization of the currently vacant City Property through reduced maintenance obligations, activation of the surrounding streetscape, generation of additional tax revenue, and furthering the City’s goal of utilizing publicly owned property for the development of affordable housing. Community members will benefit from the addition of neighborhood-serving businesses that provide essential goods and services, enhancing quality of life and supporting local needs. By transforming the site into an active and vibrant space, the Project should reduce nuisance activities in the immediate area, which will lessen demands on City resources in responding to complaints and will benefit the broader community. III. Salt Lake City’s Purposes and Enhancing the Quality of Life for Residents. Through the services mentioned above, the Project aims to serve households earning 30% to 80% of AMI. By helping serve the needs of these residents, the Project is expected to provide measurable benefits to the City, including the availability of safe, stable, and affordable housing and a reduction in nuisance and public safety concerns in the area. The site’s redevelopment will benefit the surrounding neighborhood by increasing the residential population, bringing new customers to local businesses, and enhancing downtown’s vibrancy. The Project’s commercial space will create opportunities for businesses that provide valuable services to the community. IV. Accomplishing Salt Lake City’s Goals. By developing 196 units of affordable housing, the Project supports the City’s Housing Plan, Housing SLC (2023-2027), which outlines strategies to address Salt Lake City’s shortage of approximately 5,500 units of affordable housing. Housing SLC heavily prioritizes individuals and households who face the greatest risk of housing insecurity and displacement. To do this, the City has developed the following goals: 1) Make progress toward closing the housing gap of 5,500 units of deeply affordable housing by entitling a minimum of 2,000 deeply affordable (30% AMI or below) units and a minimum of 2,000 affordable (3%-80% AMI) units throughout the city. 2) Increasing housing stability throughout the city. 3) Increase opportunities for homeownership and other wealth and equity-building opportunities. The plan also provides guidance for evaluating and appropriating City funds for housing. The priorities relevant to the Project are as follows: 1) Incentivizing new residential development where it will benefit the most people. 2) Support new housing at all income levels by making it easy and attractive to build affordable housing. 3) Increase spending on rental assistance and affordable housing construction and develop new funding sources to make it possible. 4) Create rental housing opportunities in every neighborhood. Additionally, the Project helps further Strategic Priority 3d of Thriving in Place, the City’s anti- displacement strategy plan, which encourages utilization of publicly owned property to leverage land assets in support of long-term affordability and equitable development. The Project furthers City objectives by utilizing publicly owned property to create new affordable housing and creating opportunities for wealth building and homeownership. CONCLUSION The development of the Grove Project by Developer will provide significant benefit to residents of the City. Approving a below-market sale for the City Property is an appropriate use of City resources to achieve the City’s “reasonable goals and objectives…in the area of economic development, job creation, affordable housing, blight elimination, resource center development, job preservation, the preservation of historic structures and property.” The Project will bring new activity to the neighborhood by introducing new housing, businesses, and community services to a site that is currently vacant and providing no benefit to the City. The City’s participation through the below-market terms is necessary to achieve these outcomes and ensure enduring public benefit. By restoring the historic Northwest Pipeline Building, providing affordable family-sized housing that aligns with Salt Lake City’s sustainability goals, increasing opportunities for homeownership and financial stability for residents through participation in the FSS Program, and revitalizing a central neighborhood within Salt Lake City, Developer has demonstrated its intent to provide sufficient public benefit to merit a below market rate reduction for a sale of the City Property. EXHIBIT TO RESOLUTION The Grove Project Term Sheet PURCHASE AND SALE TERMS consisting of a minimum of 196 units, that are a mix of one, two, and three-bedrooms, with the units affordable to households at 80% of the area median income (AMI) and below, as further defined herein, and the opportunity for a minimum of 16 households to participate in the Family Self-Sufficiency Program. The project will include both new construction as well as the renovation of the historic Northwest Pipeline building (“NWP Building”); a minimum of 15,000 square feet ground floor and basement level neighborhood commercial space targeted to neighborhood service providers including a daycare with a play structure, healthy foods and beverages, and healthcare; progressive parking strategy; energy star 90 for the new construction; publicly-visible art and the Owner: Grove Properties, LLC, or one or more other special purpose entities owned or to be owned by Housing Assistance Management Enterprise (“HAME”). Xylem Projects LLC (“Xylem”) and Common Ground Institute LLC (“CGI”), or affiliates thereof, may attributed to the land and $660,000 attributed to the building, as determined by an agreed upon appraisal dated November 4, 2025. Prior to closing, this appraisal may be updated Market Value: requesting that the appraised value be discounted to $500,000 for the NWP Building, and $500,000 for the New Construction Parcel, for a total sales price of $1,000,000, limited to: 4% or 9% federal low-income housing tax credits (“LIHTC”); tax-exempt bonds; state low-income housing tax credits; historic tax credits; an owner’s note including property; project-based voucher enhancement; state transportation infrastructure funds; CRA or Housing Stability funds; deferred developer fee; Olene Requirements: anticipated to be at the time of the Developer’s tax credit closing. Closing will occur after the following conditions are met in its entirety or for each respective phase: • Developer and City shall have agreed on the terms and form of various agreements including a Development Agreement, Public Access Easements, the Right to Repurchase Agreement, and Restrictive Use Agreement. These documents shall be recorded immediately after the deed. • Developer shall have prepared and recorded, or will record at Closing, an amended plat with Salt Lake County. • Developer shall have received all necessary zoning approvals to commence construction of the Project. • Developer shall provide evidence of adequate parking plan to meet zoning requirements. Plan shall include interim parking strategy and schematic design and development timeline of the proposed parking structure located within the • executed long-term parking lease or other binding parking agreement with Magnolia securing the use of eight parking stalls. • Developer shall provide the City with verification of construction and long- term financing and obtain a payment and performance bond prior to closing. • Closing on the property shall take place simultaneously with the closing on the development’s financing, issuance of a “will issue” building permit letter, and approval by the internal staff review committee established by the City of the final design and construction documents and schedule of development. • Developer shall demonstrate that the Northwest Pipeline building shall be constructed to conform to guidelines either provided by or consistent with the National Park Service Secretary of the Interior's Standards for Rehabilitation and such standards shall be referenced in the Development Agreement. • Developer shall demonstrate that the development shall be designed to achieve a “Designed to Earn ENERGY STAR” score of 90 or higher or a Design Target Site Energy Use Intensity (“EUI”) value corresponding with such a score that is generated by the Designed to Earn ENERGY STAR and such standards shall be referenced in the Development Agreement. • Developer shall have satisfied all the requirements necessary for the NWP Building and New Construction respectively. Developer shall pay the City cash flow payments as follows: • Initial Compliance Period: A payment of $1 per year shall be made until the end of the LIHTC compliance period. The LIHTC compliance period shall be 15 years after the Certificate of Occupancy is received and pursuant to Section 42 of the Internal Revenue Code. • Post-Compliance Period: Beginning upon the expiration of the LIHTC compliance period, an annual payment of 50% of surplus net cash flow. If net cash flow is not available in a particular year, the payment will not be less than $1 per year. Developer shall annually submit to the City financial documentation, in a form and level of detail acceptable to the City, sufficient to verify the calculation of surplus cash flow and the amount, if any, payable on the promissory notes. The promissory notes shall accrue interest at a simple, non-compounding, annual rate of three percent (3%) per annum starting at year 15, however, no interest payments shall be due prior to final maturity. At final maturity, only the interest that accrued on the outstanding unpaid principal balance will be applied to final payment. The promissory note shall have a final maturity in Year 55, at which time any unpaid principal balance and the accrued interest on the unpaid principal balance shall be immediately due. There shall be no automatic forgiveness. Any unpaid balance and accrued interest shall become immediately due and payable upon sale, transfer, or refinancing of the Property, subject to senior lender’s consent. Agreement(s) recorded by Utah Housing Corporation, LIHTC investors and other senior lenders. In addition, the cash flow may be subject to standstill provisions as may be Requirement: agreements and closing has not occurred by June 30, 2027, after all opportunities to Developer shall provide the City with a detailed Construction Schedule within 60 days of Closing, identifying major milestones. Developer shall update the Construction Schedule quarterly and provide written notice to the City of any material deviations. Developer shall meet the following milestones: • Commence Construction – NWP Building: No later than 18 months following the Closing. • Commence Construction – New Construction: No later than 24 months following Closing. • Substantial Completion – NWP Building: No later than 30 months following the Construction Start. • Substantial Completion – New Construction: No later than 30 months Requirement: developed and continuously operated as affordable housing 80% AMI and below, with units affordable and restricted to households earning up to the following AMI: NWP BUILDING: • A minimum of 7 units at 30% AMI • A minimum of 7 units at 40% AMI • A minimum of 7 units at 50% AMI NEW CONSTRUCTION: • A minimum of 14 units at 30% AMI • A minimum of 14 units at 40% AMI • A minimum of 14 units at 50% AMI The NWP Building shall contain a minimum of 63 total units, and the new construction shall contain a minimum of 133 total units. All remaining units will be held at affordability levels that are in compliance with LIHTC requirements at 80% AMI and below with an average of 60% AMI for all units dependent on 4% LIHTC or 9% LIHTC applications. Compliance of affordability and occupancy requirements shall be demonstrated through an annual report submitted to the City. A Restrictive Use Agreement shall be recorded against the Property at closing. The agreement shall be recorded immediately after the deed, run with the land, bind all successors and assigns, and remain in full force and effect for a term of fifty years from certificate of occupancy. All restrictions contained in this agreement shall survive Sufficiency: the Family Self-Sufficiency (FSS) Program, a voluntary 5-year incentive program that aims to help families increase their earnings and build equity with an emphasis on homeownership opportunities. The FSS Program includes two key features – a financial incentive for participants to increase their wealth in the form of an escrow savings account that increases as their earnings increase, and case management or coaching to help participants access services they may need to overcome barriers to employment, strengthen their financial capability, and address other challenges holding them back from achieving their goals. Developer shall provide an annual report summarizing and case management services, credit-building tools, savings or equity building opportunities, and workforce navigation. Developer will provide access to a discounted real estate agent service to assist residents on their journey to homeownership. Developer shall provide an annual report summarizing participation, outcomes, and Project: modification constitutes a material change from the proposed Project. For purposes of the Agreement, a “material change” means a modification that substantially deviates from the proposed Project and, with respect to any terms involving numbers or percentages, results in a change by more than 10%. Developer shall provide City with written notice of any such minor modification, including without limitation any changes specified by the City’s Building Services or Planning Departments. Developer shall not make any material change to the proposed Project without City’s approval, which Building will include a minimum of 30 2-bedroom units and 6 units 3-bedroom or more. The new construction shall have a minimum of 50 units as 2-bedroom units and 23 units Commercial Uses: and an additional 5,500 square feet in the basement of the NWP Building. The majority of the 200 South facade shall be ground floor commercial. Developer shall make efforts to reserve and lease the ground-floor commercial spaces to community-serving uses, specifically healthcare providers, childcare operators, or healthy food and beverage retailers. Developer shall actively market these spaces to such users for a minimum of 4 months following receipt of a certificate of occupancy. If, after commercially reasonable efforts and documented outreach, the Developer is unable to secure a qualified tenant from these categories, the City may approve alternative commercial uses that remain compatible with the project’s community benefit goals. Any proposed pivot shall include evidence of marketing efforts, a summary of prospective tenants, and a demonstration that the alternative use maintains or advances public health, wellbeing, or Secretary of the Interior's Standards for the Treatment of Historic Properties. design and construction documents for review and approval. So long as the Design Documents comply with Developer’s proposal to City in response to City’s RFP and subsequent interview with Developer’s selection advisory committee, City shall not higher or a Design Target Site Energy Use Intensity (“EUI”) value corresponding with such a score that is generated by the Designed to Earn ENERGY STAR tool and structures, from the street, and promote parking efficiencies and shared parking between located on the Property. Developer may, at its discretion, incorporate these stalls into a structured parking facility or reconfigure their location elsewhere on the site. In all cases, eight stalls shall be reserved for exclusive use by The Magnolia. Developer and The Magnolia shall negotiate a new long-term parking lease at a nominal fee, reflecting the reconfigured parking arrangement, which shall be subject to City approval. During construction, Developer shall commit to providing continuous parking availability for Fair Housing: comply with federal fair housing laws and tenant selection policies pursuant to the low- income housing tax credit (LIHTC) program or its successor. The Developer will affirmatively and aggressively market most living units to “public safety and security” workers. The broad category of public employees includes law enforcement, emergency response, critical health, emergency capital work, fire response and prevention, air quality, related education fields, emerging training and other public safety worker Requirement: status, including the submission of audited financial statements, and sufficient historic Northwest Pipeline building and therefore may developed in two phases. The renovation of the Northwest Pipeline building will be completed prior to or concurrently with any new construction. Special conditions for the new construction to start prior to the NWP Building shall be reviewed by the City and approved at City’s sole discretion. Approval shall only be granted if Developer provides a parking plan and evidence that renovation of the Northwest Pipeline Building will commence within 90 days of the new construction. Such circumstances or special conditions shall include: • site preparation and grading of new construction • crane coordination between both NWP Building and New Construction • all uses of LIHTC extensions have been exercised and further delay would result in guaranteed loss of credits EXHIBIT C: PUBLIC BENEFIT ANALYSIS MEMORANDUM TO: City Council Members SUBJECT: Analysis of Public Benefits Provided by Housing Assistance Management Enterprise’s Redevelopment of the Northwest Pipeline Property “The Grove” in Exchange for a Below-Market Rate Sale of Property INTRODUCTION Salt Lake City (the “City”) owns real property located at approximately 321 East 200 South, Salt Lake City, consisting of approximately 2.42 acres and the historic Northwest Pipeline building (the “NWP Building”), collectively the “City Property” which was previously used as the City’s police and fire headquarters until those departments were relocated in 2013. A development team consisting of Housing Assistance Management Enterprise (HAME), Xylem Projects, and Common Ground Institute, (collectively “the Developer”) was selected through a competitive Request for Proposals (“RFP”) process for the adaptive reuse of the NWP Building and the redevelopment of the vacant City Property. Developer’s proposal includes the renovation of the NWP Building, the construction of a new building, and other associated amenities. The NWP Building and newly constructed buildings will include 196 residential units, at least 51% of the residential units will be two or more bedrooms. Units will be deed restricted and made affordable to households earning an annual average income equal to or less than 60% of area median income (AMI). Developer will designate a minimum of 16 units for the voluntary 5-year Family Self-Sufficiency (FSS) Program to help families increase income and build equity. The ground floor and basement of the buildings are proposed to include a minimum 15,000 square feet of ground floor and basement commercial space reserved for neighborhood-serving commercial uses such as a daycare, healthcare services, and healthy food and beverage establishments. The site will also include a publicly accessible plaza (the “Project”) As set forth in more detail below, in consideration for the renovation of the NWP Building, the development of affordable and family-sized housing, the FSS program, and the inclusion of a daycare and other community-serving commercial uses, Developer requesting the City approve a discounted sales price of the City Property (the “Sale”). Any adjustment to the purchase price from fair market value is subject to approval by the City Council pursuant to Utah Code 10-8-2 and City Code 2.58. Accordingly, this public benefits analysis (“PBA”) has been prepared to help the City Council’s evaluation of the recommended action. LEGAL FRAMEWORK Under Utah law, after first holding a public hearing, a municipal body may appropriate funds “for any purpose that, in the judgment of the municipal legislative body, provides for the safety, health, prosperity, moral well-being, peace, order, comfort, or convenience of the inhabitants of the municipality.” The factors that must be considered by the City Council in determining the propriety of making such an appropriation or waiver to any type of entity or individual other than a nonprofit entity are set forth under Utah Code §10-8-2(3)(e). The factors include: (1) The specific benefits (including intangible benefits) to be received by the City in return for the arrangement; and (2) The City’s purpose in making the appropriation, including an analysis of how the safety, health, prosperity, moral well-being, peace, order, comfort or convenience of the residents of Salt Lake City will be enhanced; and (3) Whether the appropriation is “necessary and appropriate” to accomplish the reasonable goals and objectives of the City in the areas of economic development, job creation, affordable housing, blight elimination, resource center development, job preservation, the preservation of historic structures and property, and any other public purpose. BACKGROUND OF THE PROJECT AND CITY PROPERTY The City Property consists of approximately 2.42 acres and includes two vacant structures. The NWP Building, which is the primary structure, is a nine-story building built in 1958 by the Pacific Northwestern Pipeline Corporation. The NWP Building was designed by architects Slack and David Winburn in the “International Style.” It is one of two buildings in this style in Salt Lake City. The NWP Building is on the National Register of Historic Places, is therefore required to be rehabilitated in a manner that conforms to guidelines provided by the National Park Service Secretary of the Interior’s Standards for Rehabilitation as part of its redevelopment. The City Property was acquired by the City in the 1980s and was used for many years to house public safety operations, including Police, Fire, and 911 dispatch services. The NWP Building was remodeled after its acquisition by the City. The interior has been modified over the years, though the exterior of the building has been largely left intact. The facility was vacated in 2013 when the City’s public safety operations were relocated into the new public safety building at 475 South 300 East. In 2015, the City issued an RFP for the development of the City Property, along with the property immediately to the north that has since been developed as the Magnolia project, which provides affordable housing and supportive services for people that have experienced homelessness. The proposal that was selected in 2015 included the construction of the Magnolia, adaptive reuse of the NWP Building, the development of a new residential building and parking structure, and open space. The Magnolia project was completed in 2021; however, the other components of the 2015 development proposal did not move forward. In 2023, the City released a new RFP to identify an experienced development team to renovate the NWP Building and develop the vacant properties to contribute to the City’s livability goals and support the surrounding neighborhood. A selection committee comprised of elected officials, City staff, and community members selected the Developer as the development partner and has supported the Developer through the predevelopment process. TERMS OF THE SALE AND PUBLIC BENEFITS PROVIDED I. Terms of Sale Developer’s Project that will provide housing affordable to households earning between 30% and 80% AMI for at least 50 years. The Project, called The Grove, is located along 200 South, which is the busiest transit corridor in the State of Utah, used by 34 buses an hour. The Project will activate this underutilized City Property, which has sat vacant for many years and attracted nuisance activities, resulting in frequent complaints to the City from neighboring residents and businesses. Construction of the Project is anticipated to start by September of 2026, with estimated completion of construction in 2028, according to the Developer. The Project will be comprised of two buildings — the NWP Building and a new construction building with a shared parking structure. 63 residential units (27 one-bedroom units, 30 two-bedroom units, and 6 three- bedroom units) will be included as part of the adaptive reuse of the NWP Building, with the remaining 133 units in a new construction building. 16 residential units will be designated as eligible to participate in the Housing Authority of Salt Lake City’s Family Self-Sufficiency (FSS) Program, a voluntary 5-year incentive program that aims to help families increase their earnings and build equity. Developer will preserve the existing historic facade and restore the remaining historic interior elements at the NWP Building. The ground floor and basement of the NWP Building will include approximately 5,500 square feet of commercial space, and an additional 5,500 square feet of commercial space in the basement level. Commercial spaces will be specifically targeted at community-serving uses, including daycare, healthcare services, healthy food and beverage, and event spaces. The new construction buildings will include screened parking for approximately 86 stalls. Shaded community gathering space and public art installations will be included as part of the creation of a central, publicly accessible plaza on the City Property. The City has entered into an agreement for the NWP Building and its associated parcel. This agreement allows for the sale of the property at fair market value. The City intends to amend the agreement to sell the NWP Building and enter into a new agreement to sell the City Property (at the rate approved by City Council) pending Developer’s completion of certain closing requirements, which shall include the execution of a Development Agreement for the Project. Before closing on the Sale of the City Property to Developer for the Project, the City and Developer have agreed that Developer must demonstrate evidence of construction and permanent financing, and that the NWP Building shall be constructed to conform to guidelines either provided by or consistent with the National Park Service Secretary of the Interior’s Standards for Rehabilitation. Developer must also demonstrate that the Project’s new construction building shall be designed to achieve a “Designed to Earn ENERGY STAR” score of 90 or higher. Developer shall have satisfied all the requirements necessary for the commencement of site preparation and construction of the Project improvements. Developer intends to finance the Project using Low-Income Housing Tax Credits, Housing Authority bond debt and/or private debt, historic tax credits, and other awards and grants. The City’s financial contribution in the form of a below-market rate sale is essential to making The Project financially feasible given the significant cost of historic rehabilitation, affordable housing construction, and inclusion of public-serving amenities that generate limited or no operating revenue. The City’s support directly enables the transformation of a long-vacant site into a productive community asset that advances the City’s objectives. In exchange for the public benefits that Developer will be providing by creating family-sized affordable housing and community-centered commercial space that includes a daycare facility healthcare services and healthy food and beverage providers; by rehabilitating and preserving the historic NWP Building; by supporting the revitalization and activation of a currently vacant City- owned property; and by promoting opportunities for renters to build equity; Developer is requesting that the City approve a below-market rate Sale of the City Property. II. Costs to the City Under the proposed Sale between the City and Developer, the City will convey the Project Site, for $500,000 for the NWP Building property and $500,000 for the New Construction property, for a total of $1,000,000. The sales price is payable to the City in the form of subordinate promissory notes effective from certificate of occupancy. Payments shall be $1 each year for fifteen years. Following this initial period until year 15, Developer shall pay 50% of any positive surplus cash flow generated from the Project, not less than $1 per year. After year fifteen, the promissory notes shall accrue interest at a simple, non-compounding, annual rate of three percent (3%) per annum, however, no interest payments shall be due prior to final maturity. Only the interest on the outstanding unpaid principal balance at maturity will be applied to final payment due upon maturity. The sale will require that the City Property will be used solely for the Project, including but not limited to the development and operation of the renovated NWP Building, a new construction building, and the public plaza. The appraised value as of March 24, 2025, for the City Property is $18,050,000, with $17,390,000 attributed to the land and $660,000 attributed to the building. The appraised value may be updated prior to the City’s conveyance of the Property. The below-market sale would be offered as the City’s contribution to providing solutions for historic preservation, affordable and family-sized housing, and community services. The City will not have any responsibility for remediation, design, construction, operation, or maintenance of the City Property or Project. II. Public Benefits Provided by the Project. The below-market sale is necessary to unlock these public benefits. The City’s contribution bridges a financing gap that private capital alone cannot fill due to the project’s affordability commitments, costly historic preservation standards, and inclusion of non-revenue community amenities. This investment ensures that the redevelopment of the Northwest Pipeline site delivers lasting value. The Project provides numerous benefits to the City and promotes the City’s reasonable goals and objectives to preserve historic structures, increase the availability of affordable housing, improve housing stability, and increase opportunities for homeownership and other wealth and equity-building opportunities for families. Residents of the Project will be provided with access to secure screened parking and will be encouraged to take advantage of the frequent transit service available on 200 South. Commercial tenants will benefit from the project’s prime location near the City’s central business district and increased foot traffic generated by the new residents and guests. The Project will also provide residents and community members with access to a variety of community-centered businesses, including childcare, healthcare services, healthy food and beverage providers, and other small, local businesses. The addition of these businesses and services providers may create additional job opportunities for community members. Developer shall designate at minimum 16 units in the Project as eligible to participate in the Housing Authority of Salt Lake City’s Family Self-Sufficiency (FSS) Program, a voluntary 5- year incentive program that aims to help families increase their earnings and build equity. The FSS Program includes two key features – a financial incentive for participants to increase their earnings in the form of an escrow savings account that increases as their earnings increase, and case management or coaching to help participants access services they may need to overcome barriers to employment, strengthen their financial capability, and address other challenges holding them back from achieving their goals. Through FSS, as participating households increase their income, the additional rent that would normally be paid to the Developer is instead deposited into an interest-bearing escrow account, building savings over time. Coupled with individualized coaching, this structure enables families to strengthen their financial stability, reduce reliance on subsidy, and accumulate meaningful resources. In Salt Lake City, many graduates of the program have successfully used their escrow savings as down payments to purchase homes. By embedding FSS into this Project, the City will expand opportunities for current and future residents to transition from renting to homeownership, creating long-term stability and wealth-building for Salt Lake families. The Project is also designed as a transit-oriented development (TOD) that leverages the Property’s prime location along 200 South, the state’s busiest transit corridor and the route of the new bus rapid transit (BRT) line. By locating affordable housing, neighborhood-serving businesses, and community amenities directly adjacent to high-frequency transit, the Project will maximize opportunities for residents and patrons to reduce reliance on automobiles. This design supports Salt Lake City’s Climate Positive 2040 goals by encouraging walking, cycling, and transit use, thereby reducing vehicle trips, lowering greenhouse gas emissions, and improving air quality. Reduced automobile usage will also directly contribute to climate resilience by lessening local air pollution and mitigating urban heat impacts associated with heavy traffic. The Project’s TOD features advance the City’s adopted Housing SLC (2023–2027) and Thriving in Place anti- displacement strategy, which both encourage transit-oriented development and the use of public land as critical tools for ensuring long-term affordability and equitable neighborhood growth. In doing so, the Project will reduce combined housing and transportation costs for households while strengthening the viability of the City’s investment in high-capacity transit. The Project will generate significant economic vitality by bringing new residents, businesses, and community services to a long-vacant property in the heart of the City. More than 250 new residents will increase local purchasing power and strengthen neighborhood retail, while the Project’s minimum of 15,000 square feet of commercial space will be prioritized for locally owned businesses and neighborhood-serving providers. This focus on small business development and entrepreneurship will create new job opportunities, diversify the local economy, and ensure that the benefits of redevelopment circulate within the community. By combining affordable housing with accessible commercial services, the Project will catalyze a more vibrant, walkable district that attracts additional investment and enhances the overall economic resilience of Salt Lake City’s Central City neighborhood. The Project will also contribute to increased neighborhood safety. By transforming a long-vacant property into an active mixed-use development, the Project will eliminate blight and reduce nuisance activities that have historically generated frequent complaints from nearby residents and businesses. The addition of housing, commercial space, and community amenities will create a consistent community presence that enhances visibility and fosters a safer pedestrian environment. Reduced reliance on automobiles will also improve traffic safety by lowering the number of vehicle trips, thereby reducing the risk of collisions and creating safer conditions for pedestrians, cyclists, and transit riders. The City will also benefit from the revitalization of the currently vacant City Property through reduced maintenance obligations, activation of the surrounding streetscape, generation of additional tax revenue, and furthering the City’s goal of utilizing publicly owned property for the development of affordable housing. Community members will benefit from the addition of neighborhood-serving businesses that provide essential goods and services, enhancing quality of life and supporting local needs. By transforming the site into an active and vibrant space, the Project should reduce nuisance activities in the immediate area, which will lessen demands on City resources in responding to complaints and will benefit the broader community. III. Salt Lake City’s Purposes and Enhancing the Quality of Life for Residents. Through the services mentioned above, the Project aims to serve households earning 30% to 80% of AMI. By helping serve the needs of these residents, the Project is expected to provide measurable benefits to the City, including the availability of safe, stable, and affordable housing and a reduction in nuisance and public safety concerns in the area. The site’s redevelopment will benefit the surrounding neighborhood by increasing the residential population, bringing new customers to local businesses, and enhancing downtown’s vibrancy. The Project’s commercial space will create opportunities for businesses that provide valuable services to the community. IV. Accomplishing Salt Lake City’s Goals. By developing 196 units of affordable housing, the Project supports the City’s Housing Plan, Housing SLC (2023-2027), which outlines strategies to address Salt Lake City’s shortage of approximately 5,500 units of affordable housing. Housing SLC heavily prioritizes individuals and households who face the greatest risk of housing insecurity and displacement. To do this, the City has developed the following goals: 1) Make progress toward closing the housing gap of 5,500 units of deeply affordable housing by entitling a minimum of 2,000 deeply affordable (30% AMI or below) units and a minimum of 2,000 affordable (30%-80% AMI) units throughout the city. 2) Increasing housing stability throughout the city. 3) Increase opportunities for homeownership and other wealth and equity-building opportunities. The plan also provides guidance for evaluating and appropriating City funds for housing. The priorities relevant to the Project are as follows: 1) Incentivizing new residential development where it will benefit the most people. 2) Support new housing at all income levels by making it easy and attractive to build affordable housing. 3) Increase spending on rental assistance and affordable housing construction and develop new funding sources to make it possible. 4) Create rental housing opportunities in every neighborhood. Additionally, the Project helps further Strategic Priority 3d of Thriving in Place, the City’s anti- displacement strategy plan, which encourages utilization of publicly owned property to leverage land assets in support of long-term affordability and equitable development. The Project furthers City objectives by utilizing publicly owned property to create new affordable housing and creating opportunities for wealth building and homeownership. CONCLUSION The development of the Grove Project by Developer will provide significant benefit to residents of the City. Approving a below-market sale for the City Property is an appropriate use of City resources to achieve the City’s “reasonable goals and objectives…in the area of economic development, job creation, affordable housing, blight elimination, resource center development, job preservation, the preservation of historic structures and property.” The Project will bring new activity to the neighborhood by introducing new housing, businesses, and community services to a site that is currently vacant and providing no benefit to the City. The City’s participation through the below-market terms is necessary to achieve these outcomes and ensure enduring public benefit. By restoring the historic Northwest Pipeline Building, providing affordable family-sized housing that aligns with Salt Lake City’s sustainability goals, increasing opportunities for homeownership and financial stability for residents through participation in the FSS Program, and revitalizing a central neighborhood within Salt Lake City, Developer has demonstrated its intent to provide sufficient public benefit to merit a below market rate reduction for a sale of the City Property. This page has intentionally been left blank COUNCIL STAFF REPORT CITY COUNCIL of SALT LAKE CITY TO:City Council Members FROM:Allison Rowland, Senior Policy Analyst DATE:February 3, 2026 RE: RESOLUTION: SECOND ISSUANCE OF GENERAL OBLIGATION BOND FOR PARKS, TRAILS AND OPEN SPACE IMPROVEMENTS ISSUE AT-A-GLANCE The Administration proposes to issue the second tranche of the $85 million Parks, Trails, and Open Space General Obligation (GO) Bond, approved by voters in 2022. The amount of this tranche would be up to $51 million, which the Department of Public Lands (DPL) has indicated would fund nearly all of the planned projects remaining. Approximately $9.2 million would be left for a third and final tranche, 11% of the total $85 million approved. DPL indicates that this third tranche may be requested in 2027. The Council indicated its support for issuing the second tranche in a straw poll on November 25, 2025, based on descriptions of projects and activities to be funded with bond proceeds. The funds would be available to spend immediately following the bond sale in April or May 2026. Residents and businesses would begin to pay an increased level of property tax for bond repayment only after this issuance is approved by the Council. The current plan calls for the Bonds to be sold on April 7, 2026. Goal of the briefing: Receive and discuss information in preparation for a vote on issuing the second tranche of the Parks, Trails, and Open Space GO Bond, of up to $51 million. ADDITIONAL & BACKGROUND INFORMATION A.Projects and budget amounts straw polled by the Council. During the Work Session on November 25, 2026, the Council straw polled their preferences for second tranche project funding, selecting Scenario 3 as it was described by the Administration. The projects included in that scenario, which total an estimated $49,336,400, are shown below. Glendale Park Phase 2 Construction $23,350,000 Item Schedule: Allen Park Phase 1 Construction $3,650,000 Fleet Block Public Open Space $5,400,000 Fairmont Park $5,850,000 Warm Springs & North Gateway Parks Construction $1,350,000 Sunnyside Park Construction $675,000 Jefferson Park Construction $675,000 Cottonwood Park Construction $675,000 Jordan River Corridor $2,400,000 Public Art Commissions at Glendale, Fleet Block and Warm Springs/North Gateway Parks $441,000 FTE salaries, benefits, and operational costs, plus a reclassification of one Associate Landscape Architect II position in DPL to a Senior Landscape Architect position $870,400 Program management $1,000,000 Contingency $3,000,000 TOTAL $49,336,400 B.Potential Third Tranche. The transmittal indicates that the second tranche of the GO Bond would be “up to $51 million.” If this is spent in the second tranche, there would be $9,235,000 remaining for a third tranche, not the $11,003,600 listed in the most recent transmittal. If this tranche is approved in 2027, DPL indicated that construction timelines would likely be pushed to 2028 or 2029, and there would be fewer amenities due to increased costs. This tranche would be used to fund: Peace Labyrinth Construction Jordan River Remaining Projects Construction All Remaining Contingency All Remaining Personnel Costs (Salaries, Benefits, Operations) C.Proposed Staffing Changes. In its November 25, 2025, transmittal, the Public Lands Department proposed two staffing changes for existing full-time employees (FTEs) working on this project As part of the second tranche of the GO bond. That description appears to be different than the corresponding description in the January 23, 2026, transmittal, which is reproduced in Attachment C1, below. 1.Reclassification to Senior Landscape Architect. The Department of Public Lands requests that the Council approve a reclassification from Associate Landscape Architect II (Grade 29) to Senior Landscape Architect (Grade 34) to reflect the qualifications and experience of the project manager hired in this role. According to DPL, “Further reclassification would align their qualifications, job description, and pay. We wish to retain these time-limited staff for as much of the remainder of the Parks GO Bond as possible.” The costs included in the proposed second tranche total assume these changes are approved by the Council. 2.Funding Increase for Three FTEs. Since July 1, 2023, the salaries, benefits, and operational costs for three full-time employees who work exclusively on Parks GO Bond projects have been reimbursed with bond funds at the beginning of the following fiscal year. However, the estimates for these personnel costs were developed in early 2023 and were initially very conservative. Some savings in the first tranche will continue to fund their personnel costs into FY27, and the second tranche will fund the remainder of that fiscal year and the entirety of FY28. The Department proposes that an estimated $296,000 balance from the first tranche go toward reducing the second tranche’s FY27 and FY28 salary, benefits, and operation costs for these employees. ATTACHMENT Attachment C1. “Salt Lake City Parks, Trails, and Open Space Bond 2nd Issuance Projects. Attachment C1. “Salt Lake City Parks, Trails, and Open Space Bond 2nd Issuance Projects. Reproduced from Transmittal of January 23, 2026. GENERAL OBLIGATION BOND, SERIES 2026—PARKS, TRAILS, AND OPEN SPACE OVERVIEW On November 8, 2022, voters within Salt Lake City authorized the City to issue and sell GO bonds in an amount not to exceed $85 million for the purpose of acquiring, improving, renovating, and upgrading various parks, trails, open space, and related facilities and recreational amenities. PROPOSED ISSUANCE Series Par Project Proceeds 2023 $24,765,000 $24,660,000 2026 $51,000,000* *preliminary, subject to change $49,336,400 Salt Lake City Parks, Trails, and Open Space Bond 2nd Issuance Projects ESTIMATED CONSTRUCTION YEAR ITEM SECOND TRANCHE AMOUNT % of ITEM’S TOTAL BOND FUNDING 2027-2028 Glendale Park Phase 2 $23,350,000 86.5% 2026-2028 Allen Park $3,650,000 81.1% 2027-2029 Public Open Space at Fleet Block $5,400,000 90% 2027-2029 Fairmont Park $5,850,000 90% Variable (2026-2031) Reimagine Neighborhood Parks, Trails, or Open Spaces (Fairmont, Jefferson, Sunnyside, Warm Springs/North Gateway, Cottonwood) $3,375,000 34% 2027-2029 Jordan River Corridor $2,400,000 26.7% N/A Contingencies/Program Management $4,000,000 25% Variable (2026-2029) Art Allowance (Glendale, Warm Springs/North Gateway, Fleet Block) $441,000 42.6% N/A Salaries, Benefits and Operational costs for 3 FTEs for FY27 and FY28 (2 Public Lands staff, 1 ACM/Public Services) $870,400 19% TOTAL REQUEST $49,336,400 58% of $85,000,000 total PROPOSED FINANCING SCHEDULE Tuesday, February 17 City Council Meeting –Resolution Adoption Week of March 9 Meet with Rating Agencies Week of March 23-30 Receive Ratings Post the Preliminary Official Statement Tuesday, April 7 Bond Sale Tuesday, April 28 Closing Series 2026 Highlights Asking for authorization to issue up to $51 million of general obligation revenue bonds. Assumed interest rate is 4.97%, based on current market conditions with a not to exceed rate of 6.5%. Final maturity not greater than 20 years. •QUESTIONS SALT LAKE CITY TRANSMITTAL To: Salt Lake City Council Chair Submission Date: 01/13/2026 Date Sent to Council: 01/23/2026 From: Department * Finance Employee Name: Mary Beth Thompson E-mail MaryBeth.Thompson@slc.gov Department Director Signature Director Signed Date 01/13/2026 Chief Administrator Officer's Signature Chief Administrator Officer's Signed Date 01/14/2026 Subject: General Obligation (Parks, Trails, and Open Space) Bonds, Series 2026 Additional Staff Contact: Jared Jenkins - Jared.Jenkins@slc.govJou Ying Su - JouYing.Su@slc.gov Presenters/Staff Table Mary Beth Thompson - MaryBeth.Thompson@slc.govMarina Scott - Marina.Scott@slc.gov Document Type Resolution Budget Impact? Yes No Recommendation: 1) That the City Council hold a discussion on February 3, 2026, in anticipation of adopting a Bond Resolution for the aforementioned bondissue; 2) That the City Council adopt a Bond Resolution on February 17, 2026, approving the issuance and sale of up to $51,000,000 principalamount of Salt Lake City, Utah, General Obligation (Parks, Trails, and Open Space) and give authority to certain oﬃcers to approve the ﬁnalterms and provisions of and conﬁrm the sale of the Bonds within certain parameters set forth in the attached Bond Resolution. Background/Discussion On November 8, 2022, voters within Salt Lake City authorized the City to issue and sell general obligation bonds in an amount not to exceed $85 million for the purpose of acquiring, improving, renovating, and upgrading various parks, trails, open space, and related facilities and recreational amenities. The bonds are the second block of bonds to be issued from the November 8, 2022, voted authorization. Exhibit 3, prepared by Public Lands, and attached to the transmittal, details parks, trails, and open space projects selected for the second bond issuance. The current plan calls for the Bonds to be sold on April 7, 2026. Public Hearing Is there a City or State statutory requirement to hold a public hearing for this item?* Yes No The City Council reserves the option to hold and notice for a public hearing pursuant to their practices for public engagement. Does the City have a general practice to hold a public hearing for this item?* Yes No Public Process N/A This page has intentionally been left blank Salt Lake City Parks, Trails, and Open Space Bond 2nd Issuance Projects ESTIMATED CONSTRUCTION TRANCHE TOTAL BOND 2027-2028 Glendale Park Phase 2 $23,350,000 86.5% 2026-2028 Allen Park $3,650,000 81.1% 2027-2029 Public Open Space at Fleet Block $5,400,000 90% 2027-2029 Fairmont Park $5,850,000 90% Variable (2026-2031) Reimagine Neighborhood Parks, Trails, or Open Spaces (Fairmont, Jefferson, Sunnyside, Warm Springs/North Gateway, $3,375,000 34% (2026-2029) (Glendale, Warm Springs/North Operational costs for 3 FTEs for FY27 and FY28 (2 Public Lands TOTAL REQUEST This page has intentionally been left blank 2026 GO Agenda Language v5.docx 1001523/RDB/ Salt Lake City Council Agenda Item for February 17, 2026 UNFINISHED BUSINESS: Suggested Agenda Language relating to the bond resolution for the Federally Taxable General Obligation Bonds, Series 2026, to be considered by the City Council at its meeting on February 17, 2026: Resolution: Authorizing the Issuance and the Sale of Federally Taxable General Obligation Bonds for Parks, Trails and Open Space Improvements Consideration of a resolution authorizing up to $51,000,000 Federally Taxable General Obligation Bonds for the purpose of acquiring, improving, renovating and upgrading various parks, trails, open space and related facilities and recreational amenities in the City; delegating authority to certain officials and officers of the City; and providing for related matters. Staff Recommendation: Adopt Suggested Motion Language is as follows: I move that the City Council adopt the resolution authorizing up to $51,000,000 of the City's Federally Taxable General Obligation Bonds for parks, trail and open space improvements. This page has intentionally been left blank Preliminary; subject to change. SALT LAKE CITY, UTAH $49,720,000 FEDERALLY TAXABLE GENERAL OBLIGATION BONDS SERIES 2026 (April 28, 2026 ) Sources & Uses Dated 04/28/2026 | Delivered 04/28/2026 Sources Of Funds Par Amount of Bonds $49,720,000.00 Total Sources $49,720,000.00 Deposit to Project Construction Fund 49,336,400.00 Total Underwriter's Discount (0.400%)198,880.00 Costs of Issuance 183,072.00 Deposit to Project Fund 1,648.00 Total Uses $49,720,000.00 2026 GO Taxable $49.336M | SINGLE PURPOSE | 1/ 8/2026 | 12:01 PM Stifel Preliminary; subject to change. SALT LAKE CITY, UTAH $49,720,000 FEDERALLY TAXABLE GENERAL OBLIGATION BONDS SERIES 2026 (April 28, 2026 ) Debt Service Schedule Date Principal Coupon Interest Total P+I Fiscal Total 04/28/2026 ----- 12/15/2026 --1,472,775.05 1,472,775.05 - 06/15/2027 1,350,000.00 3.684%1,167,839.25 2,517,839.25 3,990,614.30 12/15/2027 --1,142,972.25 1,142,972.25 - 06/15/2028 1,705,000.00 3.634%1,142,972.25 2,847,972.25 3,990,944.50 12/15/2028 --1,111,992.40 1,111,992.40 - 06/15/2029 1,765,000.00 3.684%1,111,992.40 2,876,992.40 3,988,984.80 12/15/2029 --1,079,481.10 1,079,481.10 - 06/15/2030 1,835,000.00 3.747%1,079,481.10 2,914,481.10 3,993,962.20 12/15/2030 --1,045,102.38 1,045,102.38 - 06/15/2031 1,900,000.00 3.875%1,045,102.38 2,945,102.38 3,990,204.76 12/15/2031 --1,008,289.88 1,008,289.88 - 06/15/2032 1,975,000.00 3.975%1,008,289.88 2,983,289.88 3,991,579.76 12/15/2032 --969,036.75 969,036.75 - 06/15/2033 2,055,000.00 4.134%969,036.75 3,024,036.75 3,993,073.50 12/15/2033 --926,559.90 926,559.90 - 06/15/2034 2,140,000.00 4.284%926,559.90 3,066,559.90 3,993,119.80 12/15/2034 --880,721.10 880,721.10 - 06/15/2035 2,230,000.00 4.369%880,721.10 3,110,721.10 3,991,442.20 12/15/2035 --832,006.75 832,006.75 - 06/15/2036 2,325,000.00 4.469%832,006.75 3,157,006.75 3,989,013.50 12/15/2036 --780,054.63 780,054.63 - 06/15/2037 2,430,000.00 4.569%780,054.63 3,210,054.63 3,990,109.26 12/15/2037 --724,541.28 724,541.28 - 06/15/2038 2,540,000.00 4.669%724,541.28 3,264,541.28 3,989,082.56 12/15/2038 --665,244.98 665,244.98 - 06/15/2039 2,660,000.00 4.769%665,244.98 3,325,244.98 3,990,489.96 12/15/2039 --601,817.28 601,817.28 - 06/15/2040 2,790,000.00 4.869%601,817.28 3,391,817.28 3,993,634.56 12/15/2040 --533,894.73 533,894.73 - 06/15/2041 2,925,000.00 4.969%533,894.73 3,458,894.73 3,992,789.46 12/15/2041 --461,223.10 461,223.10 - 06/15/2042 3,070,000.00 5.396%461,223.10 3,531,223.10 3,992,446.20 12/15/2042 --378,394.50 378,394.50 - 06/15/2043 3,235,000.00 5.396%378,394.50 3,613,394.50 3,991,789.00 12/15/2043 --291,114.20 291,114.20 - 06/15/2044 3,410,000.00 5.396%291,114.20 3,701,114.20 3,992,228.40 12/15/2044 --199,112.40 199,112.40 - 06/15/2045 3,595,000.00 5.396%199,112.40 3,794,112.40 3,993,224.80 12/15/2045 --102,119.30 102,119.30 - 06/15/2046 3,785,000.00 5.396%102,119.30 3,887,119.30 3,989,238.60 Total $49,720,000.00 -$30,107,972.12 $79,827,972.12 - Yield Statistics Bond Year Dollars $604,286.22 Average Life 12.154 Years Average Coupon 4.9824025% Net Interest Cost (NIC)5.0153141% True Interest Cost (TIC)4.9772792% Bond Yield for Arbitrage Purposes 4.9311748% All Inclusive Cost (AIC)5.0199589% IRS Form 8038 Net Interest Cost 4.9824025% Weighted Average Maturity 12.154 Years 2026 GO Taxable $49.336M | SINGLE PURPOSE | 1/ 8/2026 | 12:01 PM Stifel This page has intentionally been left blank Draft 1/13/26 2026.01.23.Finance.PublicLands.GO(Parks, Trails, and Open Spaces) Bonds, Series 2026 10001523/RDB/mo SALT LAKE CITY, UTAH Resolution No. __ of 2026 Authorizing the Issuance and Sale of up to $51,000,000 Federally Taxable General Obligation Bonds, Series 2026 Adopted February 17, 2026 - i - Delegating Bond Resolution TABLE OF CONTENTS SECTION HEADING PAGE ARTICLE I DEFINITIONS .................................................................................................2 Section 101. Definitions..............................................................................................2 Section 102. Rules of Construction ............................................................................5 Section 103. Authority for Bond Resolution ..............................................................5 ARTICLE II AUTHORIZATION, TERMS AND ISSUANCE OF BONDS .....................................5 Section 201. Authorization of Bonds, Principal Amount, Designation and Series ....5 Section 202. Purpose ...................................................................................................5 Section 203. Issue Date ...............................................................................................6 Section 204. Bond Details; Delegation of Authority ..................................................6 Section 205. Denominations and Numbers .................................................................7 Section 206. Paying Agent and Bond Registrar..........................................................7 Section 207. Redemption and Redemption Price; Notice of Redemption ..................8 Section 208. Issuance, Sale and Delivery of Bonds ..................................................10 Section 209. Execution of Bonds ..............................................................................10 Section 210. Delivery of the Bonds; Application of Proceeds .................................11 Section 211. Disclosure Agreements ........................................................................11 Section 212. Further Authority .................................................................................11 Section 213. Establishment of Accounts ..................................................................12 ARTICLE III TRANSFER AND EXCHANGE OF BONDS; BOND REGISTRAR .........................12 Section 301. Transfer of Bonds ................................................................................12 Section 302. Exchange of Bonds ..............................................................................13 Section 303. Bond Registration Books .....................................................................13 Section 304. List of Bondowners ..............................................................................13 Section 305. Duties of Bond Registrar .....................................................................13 ARTICLE IV BOOK-ENTRY SYSTEM; LIMITED OBLIGATION OF ISSUER; LETTER OF REPRESENTATIONS ......................................................................................14 Section 401. Book-Entry System; Limited Obligation of Issuer ..............................14 Section 402. Letter of Representations .....................................................................15 Section 403. Transfers Outside Book-Entry System ................................................15 Section 404. Payments to Cede .................................................................................15 ARTICLE V COVENANTS AND UNDERTAKINGS ..............................................................15 Section 501. Covenants of Issuer ..............................................................................15 Section 502. Levy of Taxes; Bond Account .............................................................15 ARTICLE VI FORM OF BONDS .........................................................................................16 SECTION HEADING PAGE -ii- Delegating Bond Resolution Section 601. Form of Bonds .....................................................................................16 ARTICLE VII MISCELLANEOUS ........................................................................................23 Section 701. Final Official Statement .......................................................................23 Section 702. Preliminary Official Statement Deemed Final .....................................23 Section 703. Notice of Bonds to be Issued ...............................................................23 Section 704. Ratification ...........................................................................................24 Section 705. Severability ..........................................................................................24 Section 706. Conflict ................................................................................................24 Section 707. Captions ...............................................................................................24 Section 708. Effective Date ......................................................................................24 EXHIBIT 1 — Form of Continuing Disclosure Undertaking EXHIBIT 2 — Form of Official Statement, including Official Notice of Bond Sale EXHIBIT 3 — Form of Certificate of Determination EXHIBIT 4 — Notice of Bonds to be Issued EXHIBIT 5 — Form of Dissemination Agency Agreement Delegating Bond Resolution RESOLUTION NO. __ OF 2026 A Resolution authorizing the issuance of up to $51,000,000 of Federally Taxable general obligation bonds of Salt Lake City, Utah; fixing the maximum aggregate principal amount of the Bonds, the maximum number of years over which the Bonds may mature, the maximum interest rate that the Bonds may bear and the maximum discount from par at which the Bonds may be sold; providing for the levy of taxes to pay principal of and interest on the Bonds; authorizing the circulation of an Official Statement; giving authority to certain officers to approve the final terms and provisions of the Bonds within the parameters set forth herein; and providing for related matters. *** *** *** WHEREAS, at the Bond Election, the issuance of $85,000,000 principal amount of general obligation bonds was authorized for the purpose of acquiring, improving, renovating and upgrading various parks, trails, open space and related facilities and recreational amenities throughout Salt Lake City, Utah; WHEREAS, the Issuer has previously issued $24,765,000 aggregate principal amount of the bonds voted at the Bond Election and the Issuer has determined to authorize the issuance and sale at this time of up to $51,000,000 principal amount of the bonds voted at the Bond Election; WHEREAS, (a) if the Bonds are sold pursuant to a competitive bid a notice inviting electronic bids for the purchase of the Bonds will be advertised by electronic dissemination through the PARITY® electronic bid submission system and (b) if the Bonds are sold pursuant to a negotiated sale or a direct purchase, a formal or informal request for proposals will be distributed; WHEREAS, in the opinion of the Issuer, it is in the best interests of the Issuer that (a) the Designated Officers be authorized to (i) determine the method of sale for the Bonds, which may be by competitive sale, negotiated underwriting or direct purchase; (ii) accept or reject the bids or proposals received for the Bonds and determine the best bid or proposal received that conforms to the parameters, deadlines and procedures set forth herein and in the applicable sale document prepared in connection with the solicitation of bids or proposals for the Bonds; and (iii) approve the final principal amount, maturity amounts, interest rates, dates of maturity and other terms and provisions relating to the Bonds and to execute the Certificate of Determination containing such terms and provisions and (b) if necessary, the Mayor be authorized to execute the Official Statement with respect to the Bonds; WHEREAS, based upon current municipal bond market conditions, the Issuer believes it will receive more bids for the purchase of the Bonds and the most favorable cost of capital and is therefore in the best interests of the Issuer if the Issuer does not restrict the amount of premium bidders may pay for the Bonds; - 2 - Delegating Bond Resolution WHEREAS, Section 11-14-316 of the Utah Code provides for the publication of a Notice of Bonds to be Issued, and the Issuer desires to cause the publication of such a notice at this time with respect to the Bonds; and WHEREAS, the Issuer deems it necessary and advisable that it take such action as may be required to authorize and issue the Bonds to finance the cost of the project to be financed with the proceeds of the Bonds; NOW, THEREFORE, Be It Resolved by the City Council of Salt Lake City, Utah, as follows: ARTICLE I DEFINITIONS Section 101. Definitions. As used in this Bond Resolution (including the preambles hereto), unless the context shall otherwise require, the following terms shall have the following meanings: “Act” means, collectively, the Local Government Bonding Act, Chapter 14 of Title 11 of the Utah Code and the Registered Public Obligations Act, Chapter 7 of Title 15 of the Utah Code. “Bond Account” means the Bond Account established in Section 213 hereof. “Bond Counsel” means Chapman and Cutler LLP or another attorney or a firm of attorneys of nationally recognized standing in matters pertaining to the tax-exempt status of interest on obligations issued by states and their political subdivisions, duly admitted to the practice of law before the highest court of any state of the United States. “Bond Election” means the special bond election duly and lawfully called and held in the Issuer on November 8, 2022, at which the issuance and sale by the Issuer of $85,000,000 principal amount of general obligation bonds was authorized for the purpose of acquiring, improving, renovating and upgrading various parks, trails, open space and related facilities and recreational amenities throughout Salt Lake City, the results of which election were declared by the City Council, sitting as a Board of Canvassers, on November 22, 2022. “Bond Registrar” means each Person appointed by the Issuer as bond registrar and agent for the transfer, exchange and authentication of the Bonds. Pursuant to Section 206 hereof, the initial Bond Registrar is U.S. Bank Trust Company, National Association of Salt Lake City, Utah. “Bond Resolution” means this Resolution of the Issuer adopted on February 17, 2026, authorizing the issuance and sale of the Bonds. “Bondowner” or “owner” means the registered owner of any Bond as shown in the registration books of the Issuer kept by the Bond Registrar for such purpose. - 3 - Delegating Bond Resolution “Bonds” means the Issuer’s Federally Taxable General Obligation Bonds, Series 2026, authorized by the Bond Resolution. “Cede” means Cede & Co., the nominee of DTC, and any successor nominee of DTC with respect to the Bonds pursuant to Section 401 hereof. “Certificate of Determination” means the Certificate of Determination, a form of which is attached hereto as Exhibit 3, of the Designated Officers delivered pursuant to Article II of this Bond Resolution, setting forth certain terms and provisions of the Bonds. “City Council” means the City Council of the City, as the governing body of the Issuer. “City Recorder” means the City Recorder or any Deputy City Recorder of the Issuer. “City Treasurer” means the City Treasurer of the Issuer or, in the absence or disability of the City Treasurer, the Deputy City Treasurer, the Acting Deputy City Treasurer or such other official as shall be duly authorized to act in the City Treasurer’s stead. “Closing Date” means the date of the initial issuance of the Bonds. “Code” means the Internal Revenue Code of 1986, as amended. “Continuing Disclosure Undertaking” means the Continuing Disclosure Agreement of the Issuer, in substantially the form attached hereto as Exhibit 1, dated the Closing Date, for the purpose of providing continuing disclosure information under Rule 15c2-12 adopted by the Securities and Exchange Commission under the Securities Exchange Act of 1934, as may be amended from time to time. “Depository Account” means the Depository Account established in Section 213 hereof. “Designated Officers” means (a) the (i) Mayor of the Issuer; or (ii) in the event of the absence or incapacity of the Mayor, the Mayor’s Chief of Staff; or (iii) in the event of the absence or incapacity of both the Mayor and the Mayor’s Chief of Staff, the City Treasurer; or (iv) in the event of the absence or incapacity of the Mayor, the Mayor’s Chief of Staff and the City Treasurer, the Deputy Treasurer of the Issuer and (b) (i) the Chair of the City Council; or (ii) in the event of the absence or incapacity of the Chair of the City Council, the Vice Chair of the City Council; or (iii) in the event of the absence or incapacity of both the Chair and Vice Chair of the City Council, any other member of the City Council. “Dissemination Agency Agreement” means the Dissemination Agency Agreement, dated the Closing Date, between the Issuer and the Dissemination Agent, in substantially the form attached hereto as Exhibit 5. “Dissemination Agent” means each Person appointed by the Issuer as dissemination agent with respect to the Continuing Disclosure Undertaking and the Dissemination Agency Agreement. The initial Dissemination Agent is U.S. Bank Trust Company, National Association. - 4 - Delegating Bond Resolution “DTC” means The Depository Trust Company, New York, New York, and its successors and assigns. “Exchange Bond” means any Exchange Bond as defined in Section 209 hereof. “Fitch” means Fitch Ratings, Inc., its successors and their assigns, and, if such corporation shall be dissolved or liquidated or shall no longer perform the functions of a securities rating agency, “Fitch” shall be deemed to refer to any other nationally recognized securities rating agency designated by the Issuer to the Paying Agent. “Issuer” means Salt Lake City Utah. “Letter of Representations” means the Blanket Issuer Letter of Representations from the Issuer to DTC, dated October 16, 2019. “Mayor” means the Mayor of the City, or in the absence or disability of the Mayor, such other official as shall be duly authorized to act in the Mayor’s stead. “Moody’s” means Moody’s Investors Service, Inc., its successors and their assigns, and, if such corporation shall be dissolved or liquidated or shall no longer perform the functions of a securities rating agency, “Moody’s” shall be deemed to refer to any other nationally recognized securities rating agency designated by the Issuer to the Paying Agent. “Official Statement” means the Official Statement with respect to the Bonds, in substantially the form of the Preliminary Official Statement attached hereto as Exhibit 2. “Participants” means those broker dealers, banks and other financial institutions from time to time for which DTC holds Bonds as securities depository. “Paying Agent” means each Person appointed by the Issuer as paying agent with respect to the Bonds. Pursuant to Section 206 hereof, the initial Paying Agent is U.S. Bank Trust Company, National Association of Salt Lake City, Utah. “Person” means natural persons, firms, partnerships, associations, corporations, trusts, public bodies and other entities. “Project Account” means the Project Account established in Section 213 hereof. “Purchaser” means the initial purchaser or purchasers of the Bonds from the Issuer, including, if applicable, the Best Bidder (defined below). “Rating Agencies” means Moody’s, if the Bonds are then rated by Moody’s, Fitch, if the Bonds are then rated by Fitch, and S&P, if the Bonds are then rated by S&P. - 5 - Delegating Bond Resolution “Record Date” means the day that is fifteen (15) days preceding each interest payment date, or if such day is not a business day for the Bond Registrar, the next preceding day that is a business day for the Bond Registrar. “Regulations” means United States Treasury Regulations dealing with the tax-exempt bond provisions of the Code. “S&P” means S&P’s Global Ratings, its successors and their assigns, and, if such corporation shall be dissolved or liquidated or shall no longer perform the functions of a securities rating agency, “S&P” shall be deemed to refer to any other nationally recognized securities rating agency designated by the Issuer to the Paying Agent. “United States” means the government of the United States of America. “Utah Code” means Utah Code Annotated 1953, as amended. Section 102. Rules of Construction. Unless the context otherwise requires: (a) references to Articles and Sections are to the Articles and Sections of this Bond Resolution; (b) the singular form of any word, including the terms defined in Section 101, includes the plural, and vice versa, and a word of any gender includes all genders; and (c) the terms “hereby,” “hereof,” “hereto,” “herein,” “hereunder” and any similar terms as used in this Bond Resolution refer to this Bond Resolution. Section 103. Authority for Bond Resolution. This Bond Resolution is adopted pursuant to the provisions of the Act. ARTICLE II AUTHORIZATION, TERMS AND ISSUANCE OF BONDS Section 201. Authorization of Bonds, Principal Amount, Designation and Series. In accordance with and subject to the terms, conditions and limitations established by the Act and in the Bond Resolution, a series of federally taxable general obligation bonds of the Issuer is hereby authorized to be issued in the aggregate principal amount of $51,000,000, which shall be designated “Federally Taxable General Obligation Bonds, Series 2026”. If the Designated Officers determine pursuant to Sections 204(b)(i) and 209 hereof that the principal amount to be issued shall be less than $51,000,000, then the principal of such series of bonds shall be limited to the amount so determined by the Designated Officers. Section 202. Purpose. Up to $51,000,000 aggregate principal amount of the Bonds are hereby authorized to be issued under authority of the Act for the purpose of raising money for paying all or a portion of the costs to acquire, improve, renovate and upgrade various parks, trails, - 6 - Delegating Bond Resolution open space and related facilities and recreational amenities throughout Salt Lake City and related infrastructure improvements, as authorized at the Bond Election, and paying certain costs related to the issuance and sale of the Bonds. Section 203. Issue Date. The Bonds shall be dated as of the Closing Date. Section 204. Bond Details; Delegation of Authority. (a) The Bonds shall mature on June 15 of the years and in the principal amounts, and shall bear interest (calculated on the basis of a year of 360 days consisting of twelve 30-day months) from the Closing Date, payable semiannually on June 15 and December 15 of each year at the rates per annum as provided in the Certificate of Determination. (b) There is hereby delegated to the Designated Officers, subject to the limitations contained in the Bond Resolution, the power to determine and effectuate the following with respect to the Bonds and the Designated Officers are hereby authorized to make such determinations and effectuations: (i) the principal amount of the Bonds necessary to accomplish the purposes of the Bonds set forth in Section 202 herein and the aggregate principal amount of the Bonds to be executed and delivered pursuant to Section 209 herein; provided that the aggregate principal amount of the Bonds shall not exceed Fifty-one Million dollars ($51,000,000); (ii) the maturity date or dates and principal amount of each maturity of the Bonds to be issued; provided, however, that the final maturity of all Bonds shall not be more than twenty-one (21) years after the issuance of the Bonds; (iii) the initial interest payment date and the interest rate or rates of the Bonds, provided, however, that the interest rate or rates to be borne by any Bond shall not exceed six and a half percent (6.50%) per annum; (iv) the sale of the Bonds to the Purchaser and the purchase price to be paid by the Purchaser for the Bonds; provided, however, that the discount from par of the Bonds shall not exceed two percent (2.00%) (expressed as a percentage of the principal amount); (v) the Bonds, if any, to be retired from mandatory sinking fund redemption payments and the dates and the amounts thereof; (vi) the optional redemption date of the Bonds; provided, however, the first optional redemption date shall not be later than ten and a half years from the Closing Date; (vii) the use and deposit of the proceeds of the Bonds; (viii) the method of sale for the Bonds, which sale may be by competitive sale, negotiated underwriting or direct purchase; - 7 - Delegating Bond Resolution (ix) if different than those set forth in Section 205, the denominations for the Bonds and the related provisions regarding a partial redemption; and (x) any other provisions deemed advisable by the Designated Officers not materially in conflict with the provisions of the Bond Resolution. Immediately following (a) the date and time specified in an Official Notice of Bond Sale (attached to the form of the Official Statement attached hereto as Exhibit 2) for the receipt of bids for the purchase of the Bonds or (b) the pricing of the Bonds, the Designated Officers shall obtain such information as they deem necessary to make such determinations as provided above and, in the case the Bonds are sold pursuant to competitive bids, to determine the bid of the responsible bidder that results in the lowest effective interest rate to the Issuer (the “Best Bidder”). Thereupon, the Designated Officers shall make such determinations as provided above, shall (i) award the bid to the Best Bidder or (ii) execute a bond purchase contract, a continuing covenant agreement, term sheet or similar document selling the Bonds or agreeing to sell the Bonds to the Purchaser thereof, as applicable, and shall execute the Certificate of Determination containing such terms and provisions of the Bonds, which execution shall be conclusive evidence of the awarding of such bid to the Best Bidder or selling such Bonds to the Purchaser thereof and the action or determination of the Designated Officers as to the matters stated therein. The provisions of the Certificate of Determination shall be deemed to be incorporated herein. In the case that the Bonds are sold pursuant to competitive bid, if the Designated Officers determine that it is in the best interest of the Issuer, the Designated Officers may (a) waive any irregularity or informality in any bid or in the electronic bidding process; and (b) reject any and all bids for the Bonds. (c) Each Bond shall bear interest from the interest payment date next preceding the date of registration and authentication thereof unless (i) it is registered and authenticated as of an interest payment date, in which event it shall bear interest from the date thereof, or (ii) it is registered and authenticated prior to the first interest payment date, in which event it shall bear interest from its date, or (iii) as shown by the records of the Bond Registrar, interest on the Bonds shall be in default, in which event it shall bear interest from the date to which interest has been paid in full. The Bond Registrar shall insert the date of registration and authentication of each Bond in the place provided for such purpose in the form of Bond Registrar’s certificate of authentication on each Bond. The Bonds shall bear interest on overdue principal at the respective rates provided in the Certificate of Determination. Section 205. Denominations and Numbers. Except as otherwise set forth in the Certificate of Determination, the Bonds shall be issued as fully-registered bonds, without coupons, in the denomination of $5,000 or any whole multiple thereof, not exceeding the amount of each maturity. The Bonds shall be numbered with the letter prefix “R-” and from one (1) consecutively upwards in order of issuance. Section 206. Paying Agent and Bond Registrar. U.S. Bank Trust Company, National Association of Salt Lake City, Utah, is hereby appointed the initial Paying Agent and Bond Registrar for the Bonds. The Issuer may remove any Paying Agent and any Bond Registrar, and any successor thereto, and appoint a successor or successors thereto. The Mayor and the City Recorder are hereby authorized and directed to enter into an agreement or agreements with each - 8 - Delegating Bond Resolution Paying Agent (a “Paying Agent Agreement”), which may establish certain duties and obligations of the Paying Agent and the Issuer, including, without limitation those duties and obligations set forth in Section 502 hereof. Each Paying Agent and Bond Registrar shall signify its acceptance of the duties and obligations imposed upon it by the Bond Resolution by executing and delivering to the Issuer a written acceptance thereof, which written acceptance may be contained in a Paying Agent Agreement. The principal of, and premium, if any, and interest on the Bonds shall be payable in any coin or currency of the United States of America that, at the respective dates of payment thereof, is legal tender for the payment of public and private debts. Principal of and premium, if any, on the Bonds shall be payable when due to the owner of each Bond upon presentation and surrender thereof at the principal corporate trust office of the Paying Agent. Payment of interest on each Bond shall be made to the Person that, as of the Record Date, is the owner of the Bond and shall be made by check or draft mailed to the Person that, as of the Record Date, is the owner of the Bond, at the address of such owner as it appears on the registration books of the Issuer kept by the Bond Registrar, or at such other address as is furnished to the Bond Registrar in writing by such owner on or prior to the Record Date. Section 207. Redemption and Redemption Price; Notice of Redemption. (a) The Bonds shall be subject to redemption prior to maturity, at the election of the Issuer, on the date specified in the Certificate of Determination (the “First Redemption Date”), and on any date thereafter, in whole or in part, from such maturities or parts thereof as shall be selected by the Issuer, upon notice given as provided below, at a redemption price equal to 100% of the principal amount of the Bonds to be redeemed, plus accrued interest thereon to the date fixed for redemption. Bonds maturing on or prior to the First Redemption Date are not subject to optional redemption. (b) The Bonds may be subject to mandatory redemption by operation of sinking fund installments as provided in the Certificate of Determination. If the Bonds are subject to mandatory sinking fund redemption and less than all of the Bonds then outstanding are redeemed in a manner other than pursuant to a mandatory sinking fund redemption, the principal amount so redeemed shall be credited at 100% of the principal amount thereof by the Bond Registrar against the obligation of the Issuer on such mandatory sinking fund redemption dates for the Bonds in such order as directed by the Issuer. (c) If less than all of the Bonds of any maturity are to be redeemed, the particular Bonds or portion of Bonds of such maturity to be redeemed shall be selected at random by the Bond Registrar in such manner as the Bond Registrar in its discretion may deem fair and appropriate. Except as otherwise set forth in the Certificate of Determination, the portion of any registered Bond of a denomination of more than $5,000 to be redeemed will be in the principal amount of $5,000 or a whole multiple thereof, and in selecting portions of such Bonds for redemption, the Bond Registrar will treat each such Bond as representing that number of Bonds of $5,000 denomination that is obtained by dividing the principal amount of such Bond by $5,000. (d) Notice of redemption shall be given by the Bond Registrar by registered or certified mail, not less than thirty (30) nor more than forty-five (45) days prior to the redemption date, to the owner of each Bond that is subject to redemption, at the address of such owner as it appears in the registration books of the Issuer kept by the Bond Registrar, or at such other address as is furnished to the Bond Registrar in writing by such owner. Each notice of redemption shall state - 9 - Delegating Bond Resolution the principal amount, the redemption date, the place of redemption, the redemption price and, if less than all of the Bonds are to be redeemed, the distinctive numbers of the Bonds or portions of Bonds to be redeemed, and shall also state that the interest on the Bonds in such notice designated for redemption shall cease to accrue from and after such redemption date and that on the redemption date there will become due and payable on each of the Bonds to be redeemed the principal thereof and interest accrued thereon to the redemption date. Each notice of optional redemption may further state that such redemption shall be conditional upon the receipt by the Paying Agent, on or prior to the date fixed for such redemption, of moneys sufficient to pay the principal of and premium, if any, and interest on such Bonds to be redeemed and that if such moneys shall not have been so received said notice shall be of no force and effect and the Issuer shall not be required to redeem such Bonds. In the event that such notice of redemption contains such a condition and such moneys are not so received, the redemption shall not be made and the Bond Registrar shall within a reasonable time thereafter give notice, in the manner in which the notice of redemption was given, that such moneys were not so received. Any notice mailed as provided in this Section shall be conclusively presumed to have been duly given, whether or not the owner receives such notice. Failure to give such notice or any defect therein with respect to any Bond shall not affect the validity of the proceedings for redemption with respect to any other Bond. (e) In addition to the foregoing notice under subsection (d) above, further notice of such redemption shall be given by the Bond Registrar as set out below, but no defect in such further notice nor any failure to give all or any portion of such further notice shall in any manner affect the validity of a call for redemption if notice thereof is given as prescribed above. (i) Each further notice of redemption given hereunder shall contain the information required above for an official notice of redemption plus (A) the CUSIP numbers of all Bonds being redeemed; (B) the date of issue of the Bonds as originally issued; (C) the rate of interest borne by each Bond being redeemed; (D) the maturity date of each Bond being redeemed; and (E) any other descriptive information needed to identify accurately the Bonds being redeemed. (ii) Each further notice of redemption shall be sent at least thirty-five (35) days before the redemption date to DTC in accordance with the operating procedures then in effect for DTC, and to all other registered securities depositories then in the business of holding substantial amounts of obligations of types comprising the Bonds designated to the Bond Registrar by the Issuer, to the Rating Agencies and to any other nationally recognized information services as designated by the Issuer to the Bond Registrar. (f) If notice of redemption shall have been given as described above and the condition described in Section 207(d) hereof, if any, shall have been met, the Bonds or portions thereof specified in said notice shall become due and payable at the applicable redemption price on the redemption date therein designated, and if, on the redemption date, moneys for the payment of the redemption price of all the bonds to be redeemed, together with interest to the redemption date, shall be available for such payment on said date, then from and after the redemption date interest on such bonds shall cease to accrue and become payable. - 10 - Delegating Bond Resolution (g) Upon the payment of the redemption price of Bonds being redeemed, each check or other transfer of funds issued for such purpose shall bear the CUSIP number or numbers identifying, by issue and maturity, the Bonds being redeemed with the proceeds of such check or other transfer. (h) The Bond Registrar shall also give any notice of the “defeasance” or redemption of the Bonds that may be required by the Continuing Disclosure Undertaking provided that the Issuer shall provide to the Bond Registrar any documents or other information that the Bond Registrar requests to provide such notice. Section 208. Issuance, Sale and Delivery of Bonds. Under authority of the Act, the Bonds shall be issued by the Issuer for the purposes set forth in Section 202 hereof. The Bonds shall be delivered to the Purchaser and the proceeds of sale thereof applied as provided in Section 210 hereof. Section 209. Execution of Bonds. The Bonds shall be executed on behalf of the Issuer by the Mayor and attested and countersigned by the City Recorder (the signatures of the Mayor and City Recorder being either manual or by facsimile, including electronic signatures) and the official seal of the Issuer or a facsimile thereof shall be impressed or printed thereon in an aggregate principal amount necessary to accomplish the purpose of the Bonds specified in Section 202 herein; provided that the aggregate principal amount of the Bonds shall not exceed $51,000,000. The use of such manual or facsimile signatures, including electronic signatures, of the Mayor and the City Recorder and such facsimile or impression of the official seal of the Issuer on the Bonds are hereby authorized, approved and adopted by the Issuer as the authorized and authentic execution, attestation, countersignature and sealing of the Bonds by said officials on behalf of the Issuer. The Bonds shall then be delivered to the Bond Registrar for manual authentication by it. Only such of the Bonds as shall bear thereon a certificate of authentication, manually executed by the Bond Registrar, shall be valid or obligatory for any purpose or entitled to the benefits of the Bond Resolution, and such certificate of the Bond Registrar shall be conclusive evidence that the Bonds so authenticated have been duly authenticated and delivered under, and are entitled to the benefits of, this Bond Resolution and that the owner thereof is entitled to the benefits of this Bond Resolution. The certificate of authentication of the Bond Registrar on any Bond shall be deemed to have been executed by it if (i) such Bond is signed by an authorized officer of the Bond Registrar, but it shall not be necessary that the same officer sign the certificate of authentication on all of the Bonds issued hereunder or that all of the Bonds hereunder be authenticated by the same Bond Registrar, and (ii) the date of registration and authentication of the Bond is inserted in the place provided therefor on the certificate of authentication. The Mayor and the City Recorder are authorized to execute, countersign, attest and seal from time to time, in the manner described above, Bonds (the “Exchange Bonds”) to be issued and delivered for the purpose of effecting transfers and exchanges of Bonds pursuant to Article III hereof. At the time of the execution, countersigning, attestation and sealing of the Exchange Bonds by the Issuer, the payee, principal amount, maturity and interest rate may be in blank. Upon any transfer or exchange of Bonds pursuant to Article III hereof, the Bond Registrar shall cause to be inserted in appropriate Exchange Bonds the appropriate payee, principal amount, maturity and interest rate. The Bond Registrar is hereby authorized and directed to hold the Exchange Bonds - 11 - Delegating Bond Resolution and to complete, authenticate and deliver the Exchange Bonds for the purpose of effecting transfers and exchanges of Bonds; provided that any Exchange Bonds authenticated and delivered by the Bond Registrar shall bear the same series, maturity and interest rate as Bonds delivered to the Bond Registrar for exchange or transfer and shall bear the name of such payee as the Bondowner requesting an exchange or transfer shall designate; and provided further that upon the delivery of any Exchange Bonds by the Bond Registrar a like principal amount of Bonds submitted for transfer or exchange, and of like series and having like maturity dates and interest rates, shall be canceled. The execution, countersignature, attestation and sealing by the Issuer and delivery to the Bond Registrar of any Exchange Bond shall constitute full and due authorization of such Bond containing such payee, principal amount, maturity and interest rate as the Bond Registrar shall cause to be inserted, and the Bond Registrar shall thereby be authorized to authenticate and deliver such Exchange Bond in accordance with the provisions hereof. In case any officer whose signature or a facsimile of whose signature shall appear on any Bond (including any Exchange Bond) shall cease to be such officer before the issuance or delivery of such Bond, such signature or such facsimile shall nevertheless be valid and sufficient for all purposes, the same as if such officer had remained in office until such issuance or delivery, respectively. Section 210. Delivery of the Bonds; Application of Proceeds. The City Treasurer is hereby authorized and instructed to make delivery of the Bonds to the Purchaser and to receive payment therefor in accordance with the terms of sale and to set the proceeds of sale of the Bonds aside for deposit into the Project Account to be used for the purpose for which the Bonds are issued as set forth in Section 202 hereof. Section 211. Disclosure Agreements. If necessary, the Mayor is hereby authorized, empowered and directed to execute and deliver, and the City Recorder to seal, countersign and attest, the Continuing Disclosure Agreement and the related Dissemination Agency Agreement (collectively, the “Disclosure Agreements”) in substantially the same form as now before the Issuer and attached hereto as Exhibits 1 and 5, or with such changes therein as the Mayor shall approve, with the execution thereof by the Mayor to constitute conclusive evidence of the approval of such changes. When the Disclosure Agreements are executed and delivered on behalf of the Issuer as herein provided, the Disclosure Agreements will be binding on the Issuer and the officers, employees and agents of the Issuer, and the officers, employees and agents of the Issuer are hereby authorized, empowered and directed to do all such acts and things and to execute all such documents as may be necessary to carry out and comply with the provisions of the Disclosure Agreements as executed. Notwithstanding any other provision of this Bond Resolution, the sole remedies for failure to comply with the Continuing Disclosure Undertaking shall be the ability of the beneficial owner of any Bond to seek mandamus or specific performance by court order, to cause the Issuer to comply with its obligations under the Continuing Disclosure Undertaking. Section 212. Further Authority. The Mayor, the City Treasurer and the City Recorder and other officers of the Issuer are, and each of them is, hereby authorized to do or perform all such acts and to execute all such certificates, documents and other instruments as may be necessary or advisable to provide for the issuance, sale, registration and delivery of the Bonds and to fulfill the - 12 - Delegating Bond Resolution obligations of the Issuer hereunder and thereunder, including any documents or agreement selling the Bonds or agreeing to sell the Bonds to the Purchaser. Section 213. Establishment of Accounts. (a) The following accounts on the accounting records of the Issuer are hereby created, which are to be held as follows: (i) Bond Account, to be held by the Issuer; (ii) Depository Account, to be held by the Paying Agent; and (iii) Project Account, to be held by the Paying Agent. (b) Pending application for the purposes contemplated hereby, moneys on deposit in the Bond Account, Depository Account and Project Account shall be invested as permitted by law in investments approved by the City Treasurer or other authorized officer of the Issuer. (c) Amounts held in the Project Account shall be held by the Paying Agent and shall be disbursed by the Paying Agent to the Issuer upon receipt of a written request of the City Treasurer or any other authorized officer of the Issuer. ARTICLE III TRANSFER AND EXCHANGE OF BONDS; BOND REGISTRAR Section 301. Transfer of Bonds. (a) Any Bond may, in accordance with its terms, be transferred, upon the registration books kept by the Bond Registrar pursuant to Section 303 hereof, by the Person in whose name it is registered, in person or by such owner’s duly authorized attorney, upon surrender of such Bond for cancellation, accompanied by delivery of a duly executed written instrument of transfer in a form approved by the Bond Registrar. No transfer shall be effective until entered on the registration books kept by the Bond Registrar. The Issuer, the Bond Registrar and the Paying Agent may treat and consider the Person in whose name each Bond is registered in the registration books kept by the Bond Registrar as the holder and absolute owner thereof for the purpose of receiving payment of, or on account of, the principal or redemption price thereof and interest due thereon and for all other purposes whatsoever. (b) Whenever any Bond or Bonds shall be surrendered for transfer, the Bond Registrar shall authenticate and deliver a new fully-registered Bond or Bonds (which may be an Exchange Bond or Bonds pursuant to Section 209 hereof) of the same series, designation, maturity and interest rate and of authorized denominations duly executed by the Issuer, for a like aggregate principal amount. The Bond Registrar shall require the payment by the Bondowner requesting such transfer of any tax or other governmental charge required to be paid with respect to such transfer. With respect to each Bond, no such transfer shall be required to be made after the Record Date or after notice of redemption has be given by the Bond Registrar. (c) The Bond Registrar shall not be required to register the transfer of or exchange any Bond selected for redemption, in whole or in part, except the unredeemed portion of Bonds being - 13 - Delegating Bond Resolution redeemed in part. Upon surrender of any Bond redeemed in part only, the Issuer shall execute, and the Bond Registrar shall authenticate and deliver to the Bondowner at the expense of the Issuer, a new Bond or Bonds (which may be an Exchange Bond or Bonds pursuant to Section 209 hereof) of the same series, designation, maturity and interest rate and of authorized denominations equal in aggregate principal amount to the unredeemed portion of the Bond surrendered. Section 302. Exchange of Bonds. Bonds may be exchanged at the principal corporate trust office of the Bond Registrar for a like aggregate principal amount of fully-registered Bonds (which may be an Exchange Bond or Bonds pursuant to Section 209 hereof) of the same series, designation, maturity and interest rate of other authorized denominations. The Bond Registrar shall require the payment by the Bondowner requesting such exchange of any tax or other governmental charge required to be paid with respect to such exchange. With respect to each Bond, no such exchange shall be required to be made after the Record Date or after notice of redemption has be given by the Bond Registrar. Section 303. Bond Registration Books. This Bond Resolution shall constitute a system of registration within the meaning and for all purposes of the Registered Public Obligations Act, Chapter 7 of Title 15 of the Utah Code. The Bond Registrar shall keep or cause to be kept, at its principal corporate trust office, sufficient books for the registration and transfer of the Bonds, which shall at all times be open to inspection by the Issuer; and, upon presentation for such purpose, the Bond Registrar shall, under such reasonable regulations as it may prescribe, register, or transfer or cause Bonds to be registered or transferred on those books as herein provided. Section 304. List of Bondowners. The Bond Registrar shall maintain a list of the names and addresses of the owners of all Bonds and upon any transfer shall add the name and address of the new Bondowner and eliminate the name and address of the transferor Bondowner. Section 305. Duties of Bond Registrar. If requested by the Bond Registrar, the Mayor and the City Recorder are authorized to execute the Bond Registrar’s standard form of agreement between the Issuer and the Bond Registrar with respect to the compensation, obligations and duties of the Bond Registrar hereunder, which may include the following: (a) to act as bond registrar, authenticating agent, paying agent and transfer agent as provided herein; (b) to maintain a list of Bondowners as set forth herein and to furnish such list to the Issuer upon request, but otherwise to keep such list confidential; (c) to give notice of redemption of Bonds as provided herein; (d) to cancel and/or destroy Bonds that have been paid at maturity or upon earlier redemption or submitted for exchange or transfer; (e) to furnish the Issuer at least annually a certificate with respect to Bonds cancelled and/or destroyed; - 14 - Delegating Bond Resolution (f) to furnish to the Issuer, at its request, at least annually an audit confirmation of Bonds paid, Bonds outstanding and payments made with respect to interest on the Bonds; and (g) to comply with all applicable provisions of DTC’s operational arrangements, as provided in Section 402 hereof. ARTICLE IV BOOK-ENTRY SYSTEM; LIMITED OBLIGATION OF ISSUER; LETTER OF REPRESENTATIONS Section 401. Book-Entry System; Limited Obligation of Issuer. (a) The Bonds shall be initially issued in the form of a separate, single, certificated, fully-registered Bond for each of the maturities set forth in the Certificate of Determination. If the Bonds are publicly offered the provisions relating to DTC’s book-entry system shall apply and upon initial issuance, the ownership of each such Bond shall be registered in the registration books kept by the Bond Registrar in the name of Cede, as nominee of DTC. Except as provided in Section 403 hereof, all of the outstanding Bonds shall be registered in the registration books kept by the Bond Registrar in the name of Cede, as nominee of DTC. (b) With respect to Bonds registered in the registration books kept by the Bond Registrar in the name of Cede, as nominee of DTC, the Issuer, the Bond Registrar and the Paying Agent shall have no responsibility or obligation to any Participant or to any Person on behalf of which such a Participant holds an interest in the Bonds. Without limiting the immediately preceding sentence, the Issuer, the Bond Registrar and the Paying Agent shall have no responsibility or obligation with respect to (i) the accuracy of the records of DTC, Cede or any Participant with respect to any ownership interest in the Bonds, (ii) the delivery to any Participant or any other Person, other than a Bondowner, as shown in the registration books kept by the Bond Registrar, of any notice with respect to the Bonds, including any notice of redemption, or (iii) the payment to any Participant or any other Person, other than a Bondowner, as shown in the registration books kept by the Bond Registrar, of any amount with respect to the principal of or premium, if any, or interest on the Bonds. The Issuer, the Bond Registrar and the Paying Agent may treat and consider the Person in whose name each Bond is registered in the registration books kept by the Bond Registrar as the holder and absolute owner of such Bond for the purpose of payment of principal, premium and interest with respect to such Bond and other matters with respect to such Bond, for the purpose of registering transfers with respect to such Bond, for the purpose of giving notices of redemption and for all other purposes whatsoever. The Paying Agent shall pay all principal of and premium, if any, and interest on the Bonds only to the respective Bondowners, as shown in the registration books kept by the Bond Registrar, or their respective attorneys duly authorized in writing, as provided in Section 206 hereof, and all such payments shall be valid and effective to fully satisfy and discharge the Issuer’s obligations with respect to payment of principal of and premium, if any, and interest on the Bonds to the extent of the sum or sums so paid. No Person other than a Bondowner, as shown in the registration books kept by the Bond Registrar, shall receive a certificated Bond evidencing the obligation of the Issuer to make payments of principal, premium, if any, and interest pursuant to the Bond Resolution. - 15 - Delegating Bond Resolution (c) Upon delivery by DTC to the Issuer of written notice to the effect that DTC has determined to substitute a new nominee in place of Cede, and subject to the provisions herein with respect to Record Dates, the word “Cede” in this Bond Resolution shall refer to such new nominee of DTC; and upon receipt of such a notice the Issuer shall promptly deliver a copy of the same to the Bond Registrar and the Paying Agent. Section 402. Letter of Representations. The Issuer’s prior execution and delivery of the Letter of Representations shall not in any way limit the provisions of Section 401 hereof or in any other way impose upon the Issuer any obligation whatsoever with respect to Persons having interests in the Bonds other than the Bondowners, as shown on the registration books kept by the Bond Registrar. In the written acceptance of each Paying Agent and Bond Registrar referred to in Section 206 hereof, such Paying Agent and Bond Registrar, respectively, shall agree to take all action necessary for all of DTC’s operational arrangements pertaining to the Paying Agent and Bond Registrar, respectively, to at all times be complied with. Section 403. Transfers Outside Book-Entry System. If the Bonds are sold pursuant to a direct placement, at the option of the Issuer or upon receipt by the Issuer of written notice from DTC that DTC is unable or unwilling to discharge its responsibilities, and no substitute depository willing to undertake the functions of DTC hereunder can be found that is willing and able to undertake such functions upon reasonable and customary terms, the Bonds shall no longer be restricted to being registered in the registration books kept by the Bond Registrar in the name of Cede, as nominee of DTC, but may be registered in whatever name or names Bondowners transferring or exchanging Bonds shall designate, in accordance with the provisions of Article III hereof. Section 404. Payments to Cede. Notwithstanding any other provision of this Bond Resolution to the contrary, so long as any Bond is registered in the name of Cede, as nominee of DTC, all payments with respect to principal of and premium, if any, and interest on such Bond and all notices with respect to such Bond shall be made and given, respectively, in the manner provided in the Letter of Representations. ARTICLE V COVENANTS AND UNDERTAKINGS Section 501. Covenants of Issuer. All covenants, statements, representations and agreements contained in the Bonds and all recitals and representations in the Bond Resolution are hereby considered and understood, and it is hereby confirmed that all such covenants, statements, representations and agreements are the covenants, statements, representations and agreements of the Issuer. Section 502. Levy of Taxes; Bond Account. The Issuer covenants and agrees that to pay the interest falling due on the Bonds as the same becomes due, and also to provide a sinking fund for the payment of the principal of the Bonds at maturity, there shall be levied on all taxable property in the Issuer in addition to all other taxes, a direct annual tax sufficient to pay the interest on the Bonds and to pay and retire the same. These taxes when collected shall be applied solely - 16 -Delegating Bond Resolution for the purpose of the payment of the interest on and principal of the Bonds, respectively, and for no other purpose whatsoever until the indebtedness so contracted under the Bond Resolution, principal and interest, shall have been fully paid, satisfied and discharged, but nothing herein contained shall be so construed as to prevent the Issuer from applying any other funds that may be in the Issuer’s treasury and available for that purpose to the payment of such interest and principal as the same respectively become due and mature. The levy or levies herein provided for may thereupon be diminished to that extent. The sums herein provided for to meet the interest on the Bonds and to discharge the principal thereof when due are hereby appropriated for that purpose, and the required amount for each year shall be included by the Issuer in its annual budget and its statement and estimate as certified to the County Council of Salt Lake County, Utah, in each year. Principal or interest falling due at any time when there shall not be available from the proceeds of the levies described in this Section money sufficient for the payment thereof shall, to the extent of such deficiency, be paid from other funds of the Issuer available for such purpose, and such other funds shall be reimbursed when the proceeds of such levies become available. The taxes or other funds that are referenced in the foregoing paragraph and that are to be used to pay the principal of or interest on the Bonds shall be deposited into the Bond Account. On or prior to the business day next preceding each principal or interest payment date for the Bonds, the Issuer shall transfer from the Bond Account to the Paying Agent for deposit into the Depository Account an amount sufficient to pay principal of and interest on the Bonds on such payment date. On each principal or interest payment date, the Paying Agent shall pay out of the Depository Account the principal of or interest on the Bonds then coming due. Moneys remaining on deposit in the Bond Account immediately after each such payment date, including any investment earnings thereon earned during the period of such deposit, shall be immediately withdrawn from the Bond Account by the Issuer and commingled with the general funds of the Issuer. Moneys remaining on deposit in the Depository Account immediately after each such payment date, including any investment earnings thereon earned during the period of such deposit, shall be immediately withdrawn from the Depository Account by the Paying Agent and paid to the Issuer and commingled with the general funds of the Issuer. The Bond Account and the Depository Account have been established primarily to achieve a proper matching of revenues and debt service on the Bonds. The Bond Account and the Depository Account shall be depleted at least once each year by the Issuer, except for a reasonable carryover amount not to exceed the greater of one year’s earnings on the Bond Account or one-twelfth of the annual debt service on the Bonds. ARTICLE VI FORM OF BONDS Section 601. Form of Bonds. Each fully-registered Bond shall be, respectively, in substantially the following form, with such insertions or variations as to any redemption or amortization provisions and such other insertions or omissions, endorsements and variations as may be required (including, but not limited to, such changes as may be necessary if the Bonds at any time are no longer held in book-entry form as permitted by Section 403 hereof: - 17 - Delegating Bond Resolution [FORM OF BOND] _______________________________________ [Unless this certificate is presented by an authorized representative of The Depository Trust Company, a New York corporation (“DTC”), to the Issuer or its agent for registration of transfer, exchange, or payment, and any certificate issued is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC (and any payment is made to Cede & Co. or to such other entity as is requested by an authorized representative of DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has an interest herein.] _______________________________________ Registered Registered UNITED STATES OF AMERICA STATE OF UTAH SALT LAKE COUNTY SALT LAKE CITY, UTAH FEDERALLY TAXABLE GENERAL OBLIGATION BOND SERIES 2026 Number R-____ $___________ REGISTERED OWNER: _________________________ PRINCIPAL AMOUNT: ------------------------------------- DOLLARS ----------------------------------------- KNOW ALL MEN BY THESE PRESENTS that Salt Lake City, Utah (the “Issuer”), a duly organized and existing municipal corporation and a political subdivision of the State of Utah, acknowledges itself indebted and for value received hereby promises to pay to the registered owner identified above, or registered assigns, on the maturity date identified above, upon presentation and surrender hereof, the principal amount identified above (the “Principal Amount”), and to pay the registered owner hereof interest on the balance of the Principal Amount from time to time remaining unpaid from the interest payment date next preceding the date of registration and authentication of this Bond, unless this Bond is registered and authenticated as of an interest payment date, in which event this Bond shall bear interest from such interest payment date, or unless this Bond is registered and authenticated prior to the first interest payment date, in which event this Bond shall bear interest from the dated date identified above (the “Dated Date”), or unless, as shown by the records of the hereinafter referred to Bond Registrar, interest on the - 18 - Delegating Bond Resolution hereinafter referred to Bonds shall be in default, in which event this Bond shall bear interest from the date to which interest has been paid in full, at the interest rate per annum (calculated on the basis of a year of 360 days consisting of twelve 30-day months) identified above (the “Interest Rate”), payable semiannually on June 15 and December 15 in each year, commencing December 15, 2026, until payment in full of the Principal Amount, except as the provisions set forth in the hereinafter defined Bond Resolution with respect to redemption prior to maturity may become applicable hereto. This Bond shall bear interest on overdue principal at the Interest Rate. Principal of and premium, if any, on this Bond shall be payable upon presentation and surrender hereof at the principal corporate trust office of U.S. Bank Trust Company, National Association, of Salt Lake City, Utah, as Paying Agent for the Bonds, or at the principal corporate trust office of any successor who is at the time the Paying Agent of the Issuer, in any coin or currency of the United States of America that at the time of payment is legal tender for the payment of public and private debts; and payment of the interest hereon shall be made to the registered owner hereof and shall be paid by check or draft mailed to the person who is the registered owner of record on the Record Date. This Bond is one of the Federally Taxable General Obligation Bonds, Series 2026 of the Issuer (the “Bonds”), limited to the aggregate principal amount of $__________, dated as of the Dated Date, issued under and by virtue of the Local Government Bonding Act, Chapter 14 of Title 11, Utah Code Annotated 1953, as amended (the “Utah Code”) and the Registered Public Obligations Act, Chapter 7 of Title 15 of the Utah Code (collectively, the “Act”), and under and pursuant to a resolution of the Issuer adopted on February 17, 2026, including as a part of such resolution that certain Certificate of Determination, dated __________, 2026 (the “Bond Resolution”), after having been authorized at an election held on November 8, 2022, in Salt Lake City, Utah by a vote of the qualified electors thereof, for the purpose of, among other things, paying all or a portion of the costs to acquire, improve, renovate and upgrade various parks, trails, open space and related facilities and recreational amenities. U.S. Bank Trust Company, National Association of Salt Lake City, Utah, is the initial bond registrar and paying agent of the Issuer with respect to the Bonds. This bond registrar and paying agent, together with any successor bond registrar or paying agent, are referred to herein, respectively, as the “Bond Registrar” and the “Paying Agent.” The Issuer covenants and is by law required to levy annually a sufficient tax to pay interest on this Bond as it falls due and also to constitute a sinking fund for the payment of the principal hereof as the same falls due. This Bond is transferable, as provided in the Bond Resolution, only upon the books of the Issuer kept for that purpose at the principal corporate trust office of the Bond Registrar, by the registered owner hereof in person or by such owner’s attorney duly authorized in writing. Such transfer shall be made upon surrender of this Bond, together with a written instrument of transfer satisfactory to the Bond Registrar, duly executed by the registered owner or such duly authorized attorney and upon the payment of the charges prescribed in the Bond Resolution, and thereupon the Issuer shall issue in the name of the transferee a new registered Bond or Bonds of authorized denominations of the same aggregate principal amount, series, designation, maturity and interest rate as the surrendered Bond, all as provided in the Bond Resolution. No transfer of this Bond - 19 -Delegating Bond Resolution shall be effective until entered on the registration books kept by the Bond Registrar. The Issuer, the Bond Registrar and the Paying Agent may treat and consider the person in whose name this Bond is registered on the registration books kept by the Bond Registrar as the holder and absolute owner hereof for the purpose of receiving payment of, or on account of, the principal or redemption price hereof and interest due hereon and for all other purposes whatsoever, and neither the Issuer, the Bond Registrar nor the Paying Agent shall be affected by any notice to the contrary. The Bonds are issuable solely in the form of registered Bonds in the denomination of $5,000 or any whole multiple thereof. The Bonds are subject to redemption prior to maturity as further described in the Bond Resolution. Except as otherwise provided herein and unless the context clearly indicates otherwise, words and phrases used herein shall have the same meanings as such words and phrases in the Bond Resolution. This Bond and the issue of Bonds of which it is a part are issued in conformity with and after full compliance with the Constitution of the State of Utah and pursuant to the provisions of the Act and all other laws applicable thereto. It is hereby certified and recited that all conditions, acts and things required by the Constitution or laws of the State of Utah and by the Act and the Bond Resolution to exist, to have happened or to have been performed precedent to or in connection with the issuance of this Bond exist, have happened and have been performed and that the issue of Bonds, together with all other indebtedness of the Issuer, is within every debt and other limit prescribed by the Constitution and laws referenced above, and that the full faith and credit of the Issuer are hereby irrevocably pledged to the punctual payment of the principal of and interest on this Bond according to its terms. This Bond shall not be valid until the Certificate of Authentication hereon shall have been manually signed by the Bond Registrar. - 20 -Delegating Bond Resolution IN WITNESS WHEREOF, SALT LAKE CITY, UTAH, has caused this Bond to be signed in its name and on its behalf by its Mayor and countersigned and attested by its City Recorder and has caused its official seal or a facsimile thereof to be impressed or imprinted hereon, all as of the Dated Date. SALT LAKE CITY, UTAH By ____________________________________ Mayor [SEAL] ATTEST AND COUNTERSIGN: By__________________________________ City Recorder APPROVED AS TO FORM By /s/ Sara Montoya____________ Senior City Attorney January 23, 2026 - 21 -Delegating Bond Resolution [FORM OF BOND REGISTRAR’S CERTIFICATE OF AUTHENTICATION] This Bond is one of the Bonds described in the within-mentioned Bond Resolution and is one of the Federally Taxable General Obligation Bonds, Series 2026 of Salt Lake City, Utah. U.S. Bank Trust Company, National Association, as Bond Registrar By ____________________________________ Authorized Officer Date of registration and authentication: __________, 2026. Bond Registrar and Paying Agent: U.S. Bank Trust Company, National Association 170 South Main Street, Suite 200 Salt Lake City, Utah 84101 - 22 -Delegating Bond Resolution [FORM OF ASSIGNMENT] The following abbreviations, when used in the inscription on the face of the within Bond, shall be construed as though they were written out in full according to applicable laws or regulations. TEN ENT — as tenants by the entirety JT TEN — as joint tenants with right of survivorship and not as tenants in common _______ Custodian _______ (Cust) (Minor) under Uniform Transfers to Minors Act of _________________________________ Additional abbreviations may also be used though not in the above list. FOR VALUE RECEIVED the undersigned sells, assigns and transfers unto Insert Social Security or Other Identifying Number of Assignee ____________________ (Please Print or Typewrite Name and Address of Assignee) the within Bond of SALT LAKE CITY, UTAH, and hereby irrevocably constitutes and appoints ___ ______________________________________________________________________________ attorney to register the transfer of the Bond on the books kept for registration thereof, with full power of substitution in the premises. DATED: ______________________ SIGNATURE: ____________________________ SIGNATURE GUARANTEED: _______________________________ NOTICE: Signature(s) must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Bond Registrar, which requirements include membership or participation in STAMP or such other “signature guarantee program” as may be determined by the Bond Registrar in addition to, or in substitution for, STAMP, all in accordance with the Securities and Exchange Act of 1934, as amended. NOTICE: The signature to this assignment must correspond with the name as it appears upon the face of the within Bond in every particular, without alteration or enlargement or any change whatever. - 23 - Delegating Bond Resolution ARTICLE VII MISCELLANEOUS Section 701. Final Official Statement. The Official Statement of the Issuer is hereby authorized in substantially the form attached hereto as Exhibit 2, with such changes, omissions, insertions and revisions as the Mayor shall deem advisable, including the completion thereof with the information established at the time of the sale of the Bonds by the Designated Officers and set forth in the Certificate of Determination. The Mayor shall sign and deliver such Official Statement to the Purchaser for distribution to prospective purchasers of the Bonds and other interested persons. The approval of the Mayor of any such changes, omissions, insertions and revisions shall be conclusively established by the Mayor’s execution of the Official Statement. Section 702. Preliminary Official Statement Deemed Final. The use and distribution of the Official Statement in preliminary form (the “Preliminary Official Statement”), in substantially the form presented at this meeting and in the form attached hereto as Exhibit 2, is hereby authorized and approved, with such changes, omissions, insertions and revisions as the City Treasurer shall deem advisable. The Mayor, the City Treasurer and the City Recorder are, and each of them is, hereby authorized to do or perform all such acts and to execute all such certificates, documents and other instruments as may be necessary or advisable to deem final the Preliminary Official Statement within the meaning and for purposes of paragraph (b)(1) of Rule 15c2-12 of the Securities and Exchange Commission, subject to completion thereof with the information established at the time of the sale of the Bonds. The Mayor, the City Treasurer and the City Recorder are, and each of them is, hereby authorized to do or perform all such acts and to execute all such certificates, documents and other instruments as may be necessary or advisable to provide for the issuance, sale and delivery of the Bonds, and any actions taken thereby for purposes of deeming the Official Statement to be final for purposes of Rule 15c2-12 of the Securities and Exchange Commission are hereby authorized, ratified and confirmed. Section 703. Notice of Bonds to be Issued. In accordance with the provisions of Sections 11-14-316 and 45-1-101 of the Utah Code and as a Class A notice under the provisions of Section 63G-30-102 of the Utah Code, the City Recorder shall publish a “Notice of Bonds to be Issued,” in substantially the form attached hereto as Exhibit 4, by (a) publishing a copy of the Notice of Bonds on (i) the Utah Public Notice Website, (ii) the Salt Lake City Public Notice Webpage and (iii) the Utah Legal Notices website (www.utahlegals.com) described in Section 45- 1-101 of the Utah Code; and (b) posting the Notice of Bonds in a public location within the City & County Building, Plaza 349 and the Main Library. The City Recorder shall cause a copy of this Resolution (together with all exhibits) to be kept on file electronically and at 451 South State Street, Room 415, Salt Lake City, Utah, in the City Recorder’s office for public examination during the regular business hours of the Issuer until at least thirty (30) days from and after the date of publication thereof. For a period of thirty (30) days from and after publication of the Notice of Bonds to be Issued, any person in interest shall have the right to contest the legality of this Bond Resolution or the Bonds hereby authorized or any provision made for the security and payment of the Bonds. After such time, no one shall have any cause of action to contest the regularity, formality or legality - 24 - Delegating Bond Resolution of this Bond Resolution or the Bonds or any provision made for the security and payment of the Bonds for any cause. Section 704. Ratification. All proceedings, resolutions and actions of the Issuer and its officers taken in connection with the sale and issuance of the Bonds are hereby ratified, confirmed and approved, including, without limitation, the publication of the notice of sale for the Bonds as set out in the preambles hereto. Section 705. Severability. It is hereby declared that all parts of this Bond Resolution are severable, and if any section, paragraph, clause or provision of this Bond Resolution shall for any reason be held to be invalid or unenforceable, the invalidity or unenforceability of any such section, paragraph, clause or provision shall not affect the remaining sections, paragraphs, clauses or provisions of this Bond Resolution. Section 706. Conflict. All resolutions, orders and regulations or parts thereof heretofore adopted or passed that are in conflict with any of the provisions of this Bond Resolution are, to the extent of such conflict, hereby repealed. Section 707. Captions. The table of contents and captions or headings herein are for convenience of reference only and in no way define, limit or describe the scope or intent of any provisions or sections of this Bond Resolution. Section 708. Effective Date. This Bond Resolution shall take effect immediately. (Signature page follows.) - 25 - Delegating Bond Resolution ADOPTED AND APPROVED February 17, 2026. SALT LAKE CITY, UTAH By ____________________________________ Chair, City Council [SEAL] ATTEST AND COUNTERSIGN: By__________________________________ City Recorder APPROVED: By ____________________________________ Mayor APPROVED AS TO FORM: By ____________________________________ Senior City Attorney Exhibit 1 Delegating Bond Resolution EXHIBIT 1 [ATTACH FORM OF CONTINUING DISCLOSURE UNDERTAKING] Exhibit 2 Delegating Bond Resolution EXHIBIT 2 [ATTACH FORM OF OFFICIAL STATEMENT] Exhibit 3 Delegating Bond Resolution EXHIBIT 3 [ATTACH FORM OF CERTIFICATE OF DETERMINATION] Exhibit 4 - 1 Delegating Bond Resolution EXHIBIT 4 NOTICE OF BONDS TO BE ISSUED NOTICE IS HEREBY GIVEN pursuant to the provisions of Sections 11-14-316, 45-1-101 and 63G-30-102, Utah Code Annotated 1953, as amended, that on February 17, 2026, the City Council of Salt Lake City, Utah (the “City”), adopted a resolution (the “Resolution”) in which it authorized and approved the issuance of its federally taxable general obligation bonds (the “Bonds”), in an aggregate principal amount of not to exceed $51,000,000, to bear interest at a rate or rates of not to exceed 6.50% per annum, to mature over a period not to exceed 21 years from their date or dates and to be sold at a discount from par, expressed as a percentage of the principal amount, of not to exceed 2.00%. Pursuant to the Resolution, the Bonds are to be issued for the purpose of raising money for paying all or a portion of the costs to acquire, improve, renovate and upgrade various parks, trails, open space and related facilities and recreational amenities. The Bonds will be secured by the full faith and credit of the City. The City currently has $125,130,000 par amount of bonds currently outstanding that are secured by the full faith and credit of the City. More detailed information relating to the City’s outstanding bonds can be found in the City’s most recent Comprehensive Financial Reports that are available on the Office of the Utah State Auditor’s website (www.auditor.utah.gov). Assuming a final maturity for the Bonds of approximately 20 years from the date hereof and that the Bonds are issued in an aggregate principal amount of $__________ and are held until maturity, based on the City’s currently expected financing structure and interest rates in effect around the time of publication of this notice, the estimated total cost to the City of the proposed Bonds is $__________. The Bonds are to be issued and sold by the City pursuant to the Resolution. A copy of the Resolution may be examined during regular business hours (8:30 am – 5:00 pm) at the office of the City Recorder, City and County Building, 451 South State Street, Room 415, Salt Lake City, Utah. To request a protected, pdf copy of the Resolution please call (801) 535-7671 or email slcrecorder@slcgov.com. The Resolution shall be so available for inspection for a period of at least 30 days from and after the date of the publication of this notice. NOTICE IS FURTHER GIVEN that pursuant to law for a period of 30 days from and after the date of the publication of this notice, any person in interest shall have the right to contest the legality of the above-described Resolution of the City Council or the Bonds authorized thereby or any provisions made for the security and payment of the Bonds. After such time, no one shall have any cause of action to contest the regularity, formality or legality of the Resolution, the Bonds or the provisions for their security or payment for any cause. Exhibit 4 - 2 Delegating Bond Resolution DATED this 17th day of February, 2026. SALT LAKE CITY, UTAH By ____________________________________ City Recorder [SEAL] Exhibit 5 Delegating Bond Resolution EXHIBIT 5 [ATTACH FORM OF DISSEMINATION AGENCY AGREEMENT] This page has intentionally been left blank Draft 1/6/26 Continuing Disclosure Agreement v4.docx 10001523/RDB/mo CONTINUING DISCLOSURE AGREEMENT FOR THE PURPOSE OF PROVIDING CONTINUING DISCLOSURE INFORMATION UNDER PARAGRAPH (b)(5) OF RULE 15C2-12 DATED: [CLOSING DATE], 2026 This Continuing Disclosure Agreement (the “Agreement”) is executed and delivered by Salt Lake City, Utah (the “Issuer”) in connection with the issuance of $[Principal Amount] [Federally Taxable] General Obligation Bonds, Series 2026 (the “Bonds”). The Bonds are being issued pursuant to a resolution adopted by the City Council of the Issuer on February 17, 2026 (the “Resolution”). In consideration of the issuance of the Bonds by the Issuer and the purchase of such Bonds by the beneficial owners thereof, the Issuer covenants and agrees as follows: Section 1. PURPOSE OF THIS AGREEMENT. This Agreement is executed and delivered by the Issuer as of the date set forth below, for the benefit of the beneficial owners of the Bonds and in order to assist the Participating Underwriter in complying with the requirements of the Rule (as defined below). The Issuer represents that it will be the only obligated person with respect to the Bonds at the time the Bonds are delivered to the Participating Underwriter and that no other person is expected to become so committed at any time after issuance of the Bonds. Section 2. DEFINITIONS. The terms set forth below shall have the following meanings in this Agreement, unless the context clearly otherwise requires. “Annual Financial Information” means the financial information and operating data described in Exhibit I. “Annual Financial Information Disclosure” means the dissemination of disclosure concerning Annual Financial Information and the dissemination of the Audited Financial Statements as set forth in Section 4. “Audited Financial Statements” means the audited financial statements of the Issuer prepared pursuant to the standards and as described in Exhibit I. “Commission” means the Securities and Exchange Commission. “Dissemination Agent” means any agent designated as such in writing by the Issuer and which has filed with the Issuer a written acceptance of such designation, and such agent’s successors and assigns. - 2 - Continuing Disclosure Agreement “EMMA” means the MSRB through its Electronic Municipal Market Access system for municipal securities disclosure or through any other electronic format or system prescribed by the MSRB for purposes of the Rule. “Exchange Act” means the Securities Exchange Act of 1934, as amended. “Financial Obligation” means (a) a debt obligation, (b) a derivative instrument entered into in connection with, or pledged as security or a source of payment for, an existing or planned debt obligation, or (c) a guarantee of (a) or (b) in this definition; provided however, the term Financial Obligation shall not include municipal securities as to which a final official statement has been provided to the MSRB consistent with the Rule. “MSRB” means the Municipal Securities Rulemaking Board. “Participating Underwriter” means each broker, dealer or municipal securities dealer acting as an underwriter in the primary offering of the Bonds. “Reportable Event” means the occurrence of any of the Events with respect to the Bonds set forth in Exhibit II. “Reportable Events Disclosure” means dissemination of a notice of a Reportable Event as set forth in Section 5. “Rule” means Rule 15c2-12 adopted by the Commission under the Exchange Act, as the same may be amended from time to time. “State” means the State of Utah. “Undertaking” means the obligations of the Issuer pursuant to Sections 4 and 5. Section 3. CUSIP NUMBER/FINAL OFFICIAL STATEMENT. The CUSIP Numbers of the Bonds are as follows: UNE OF THE YEAR NUMBER UNE OF THE YEAR NUMBER - 3 - Continuing Disclosure Agreement The Final Official Statement relating to the Bonds is dated [Sale Date], 2026 (the “Final Official Statement”). The Issuer will include the CUSIP Number in all disclosure described in Sections 4 and 5 of this Agreement. Section 4. ANNUAL FINANCIAL INFORMATION DISCLOSURE. Subject to Section 8 of this Agreement, the Issuer hereby covenants that it will disseminate its Annual Financial Information and its Audited Financial Statements (in the form and by the dates set forth in Exhibit I) to EMMA in such manner and format and accompanied by identifying information as is prescribed by the MSRB or the Commission at the time of delivery of such information and by such time so that such entities receive the information by the dates specified. MSRB Rule G-32 requires all EMMA filings to be in word-searchable PDF format. This requirement extends to all documents to be filed with EMMA, including financial statements and other externally prepared reports. If any part of the Annual Financial Information can no longer be generated because the operations to which it is related have been materially changed or discontinued, the Issuer will disseminate a statement to such effect as part of its Annual Financial Information for the year in which such event first occurs. If any amendment or waiver is made to this Agreement, the Annual Financial Information for the year in which such amendment or waiver is made (or in any notice or supplement provided to EMMA) shall contain a narrative description of the reasons for such amendment or waiver and its impact on the type of information being provided. Section 5. REPORTABLE EVENTS DISCLOSURE. Subject to Section 8 of this Agreement, the Issuer hereby covenants that it will disseminate in a timely manner (not in excess of ten business days after the occurrence of the Reportable Event) Reportable Events Disclosure to EMMA in such manner and format and accompanied by identifying information as is prescribed by the MSRB or the Commission at the time of delivery of such information. MSRB Rule G-32 requires all EMMA filings to be in word-searchable PDF format. This requirement extends to all documents to be filed with EMMA, including financial statements and other externally prepared reports. Notwithstanding the foregoing, notice of optional or unscheduled redemption of any Bonds or defeasance of any Bonds need not be given under this Agreement any earlier than the notice (if any) of such redemption or defeasance is given to the Bondholders pursuant to the Resolution. Section 6. CONSEQUENCES OF FAILURE OF THE ISSUER TO PROVIDE INFORMATION. The Issuer shall give notice in a timely manner to EMMA of any failure to provide Annual Financial Information Disclosure when the same is due hereunder. In the event of a failure of the Issuer to comply with any provision of this Agreement, the beneficial owner of any Bond may seek mandamus or specific performance by court order, to cause the Issuer to comply with its obligations under this Agreement. The beneficial owners of 25% or more in principal amount of the Bonds outstanding may challenge the adequacy of the information provided under this Agreement and seek specific performance by court order to cause the Issuer to provide the information as required by this Agreement. A default under this Agreement shall not be deemed a default under the Resolution, and the sole remedy under this - 4 - Continuing Disclosure Agreement Agreement in the event of any failure of the Issuer to comply with this Agreement shall be an action to compel performance. Section 7. AMENDMENTS; WAIVER. Notwithstanding any other provision of this Agreement, the Issuer by resolution authorizing such amendment or waiver, may amend this Agreement, and any provision of this Agreement may be waived, if: (a) (i) the amendment or waiver is made in connection with a change in circumstances that arises from a change in legal requirements, including without limitation, pursuant to a “no-action” letter issued by the Commission, a change in law, or a change in the identity, nature, or status of the Issuer, or type of business conducted; or (ii) this Agreement, as amended, or the provision, as waived, would have complied with the requirements of the Rule at the time of the primary offering, after taking into account any amendments or interpretations of the Rule, as well as any change in circumstances; and (b) the amendment or waiver does not materially impair the interests of the beneficial owners of the Bonds, as determined by parties unaffiliated with the Issuer (such as Bond Counsel). In the event that the Commission or the MSRB or other regulatory authority shall approve or require Annual Financial Information Disclosure or Reportable Events Disclosure to be made to a central post office, governmental agency or similar entity other than EMMA or in lieu of EMMA, the Issuer shall, if required, make such dissemination to such central post office, governmental agency or similar entity without the necessity of amending this Agreement. Section 8. TERMINATION OF UNDERTAKING. The Undertaking of the Issuer shall be terminated hereunder if the Issuer shall no longer have any legal liability for any obligation on or relating to repayment of the Bonds under the Resolution. The Issuer shall give notice to EMMA in a timely manner if this Section is applicable. Section 9. DISSEMINATION AGENT. The Issuer may, from time to time, appoint or engage a Dissemination Agent to assist it in carrying out its obligations under this Agreement, and may discharge any such Dissemination Agent, with or without appointing a successor Dissemination Agent. Section 10. ADDITIONAL INFORMATION. Nothing in this Agreement shall be deemed to prevent the Issuer from disseminating any other information, using the means of dissemination set forth in this Agreement or any other means of communication, or including any other information in any Annual Financial Information Disclosure or notice of occurrence of a Reportable Event, in addition to that which is required by this Agreement. If the Issuer chooses to include any information from any document or notice of occurrence of a Reportable Event in addition to that which is specifically required by this Agreement, the Issuer shall have no obligation under this Agreement to update such information or include it in any future disclosure or notice of occurrence - 5 - Continuing Disclosure Agreement of a Reportable Event. If the Issuer is changed, the Issuer shall disseminate such information to EMMA. Section 11. BENEFICIARIES. This Agreement has been executed in order to assist the Participating Underwriter in complying with the Rule; however, this Agreement shall inure solely to the benefit of the Issuer, the Dissemination Agent, if any, and the beneficial owners of the Bonds, and shall create no rights in any other person or entity. Section 12. RECORDKEEPING. The Issuer shall maintain records of all Annual Financial Information Disclosure and Reportable Events Disclosure, including the content of such disclosure, the names of the entities with whom such disclosure was filed and the date of filing such disclosure. Section 13. ASSIGNMENT. The Issuer shall not transfer its obligations under the Resolution unless the transferee agrees to assume all obligations of the Issuer under this Agreement or to execute an Undertaking under the Rule. Section 14. GOVERNING LAW. This Agreement shall be governed by the laws of the State. (Signature page follows.) - 6 - Continuing Disclosure Agreement DATED as of the day and year first above written. SALT LAKE CITY, UTAH By ____________________________________ Mayor Address: 451 South State Street Salt Lake City, Utah 84111 ATTEST AND COUNTERSIGN: By______________________________ City Recorder APPROVED AS TO FORM: By ____________________________________ Senior City Attorney EXHIBIT I Continuing Disclosure Agreement EXHIBIT I ANNUAL FINANCIAL INFORMATION AND TIMING AND AUDITED FINANCIAL STATEMENTS “Annual Financial Information” means financial information and operating data of the type contained in the Official Statement under the following captions: All or a portion of the Annual Financial Information and the Audited Financial Statements as set forth below may be included by reference to other documents which have been submitted to EMMA or filed with the Commission. If the information included by reference is contained in a Final Official Statement, the Final Official Statement must be available on EMMA; the Final Official Statement need not be available from the Commission. The Issuer shall clearly identify each such item of information included by reference. Annual Financial Information exclusive of Audited Financial Statements will be submitted to EMMA, not later than 210 days after the end of each fiscal year of the Issuer, beginning with the fiscal year ended June 30, 2026. Audited Financial Statements as described below should be filed at the same time as the Annual Financial Information. If Audited Financial Statements are not available when the Annual Financial Information is filed, unaudited financial statements shall be included. Audited Financial Statements will be prepared pursuant to generally accepted accounting principles applicable to governmental units in general and Utah cities, in particular. Audited Financial Statements will be submitted to EMMA within 30 days after availability to Issuer. If any change is made to the Annual Financial Information as permitted by Section 4 of the Agreement, the Issuer will disseminate a notice of such change as required by Section 4. EXHIBIT II Continuing Disclosure Agreement EXHIBIT II EVENTS WITH RESPECT TO THE BONDS FOR WHICH REPORTABLE EVENTS DISCLOSURE IS REQUIRED 1. Principal and interest payment delinquencies 2. Non-payment related defaults, if material 3. Unscheduled draws on debt service reserves reflecting financial difficulties 4. Unscheduled draws on credit enhancements reflecting financial difficulties 5. Substitution of credit or liquidity providers, or their failure to perform 6. Adverse tax opinions, the issuance by the Internal Revenue Service of proposed or final determinations of taxability, Notices of Proposed Issue (IRS Form 5701-TEB) or other material notices or determinations with respect to the tax status of the security, or other material events affecting the tax status of the security 7. Modifications to the rights of security holders, if material 8. Bond calls, if material, and tender offers 9. Defeasances 10. Release, substitution or sale of property securing repayment of the securities, if material 11. Rating changes 12. Bankruptcy, insolvency, receivership or similar event of the Issuer∗ 13. The consummation of a merger, consolidation, or acquisition involving the Issuer or the sale of all or substantially all of the assets of the Issuer, other than in the ordinary course of business, the entry into a definitive agreement to undertake such an action or the termination of a definitive agreement relating to any such actions, other than pursuant to its terms, if material 14. Appointment of a successor or additional trustee or the change of name of a trustee, if material 15. Incurrence of a Financial Obligation of the Issuer, if material, or agreement to covenants, events of default, remedies, priority rights, or other similar terms of a Financial Obligation of the Issuer, any of which affect security holders, if material 16. Default, event of acceleration, termination event, modification of terms, or other similar events under the terms of a Financial Obligation of the Issuer, any of which reflect financial difficulties ∗ This event is considered to occur when any of the following occur: the appointment of a receiver, fiscal agent or similar officer for the Issuer in a proceeding under the U.S. Bankruptcy Code or in any other proceeding under state or federal law in which a court or governmental authority has assumed jurisdiction over substantially all of the assets or business of the Issuer, or if such jurisdiction has been assumed by leaving the existing governing body and officials or officers in possession but subject to the supervision and orders of a court or governmental authority, or the entry of an order confirming a plan of reorganization, arrangement or liquidation by a court or governmental authority having supervision or jurisdiction over substantially all of the assets or business of the Issuer. This page has intentionally been left blank Draft of 1/13/26 PRELIMINARY OFFICIAL STATEMENT DATED [POS DATE], 2026 ____________________ * Preliminary; subject to change. io n o r s a l e w o u l d b e u n l a w f u l p r i o r t o r e g i s t r a t i o n o r q u a l i f i c a t i o n NEW ISSUE — Issued in Book-Entry Form Only RATINGS: Moody’s “____” Fitch “____” See “BOND RATINGS” herein. Interest on the Bonds is includible in gross income of the owners thereof for federal income tax purposes. In the opinion of Bond Counsel, under the existing laws of the State of Utah, as presently enacted and construed, interest on the Bonds is exempt from taxes imposed by the Utah Individual Income Tax Act. See “TAX TREATMENT” herein for a more complete discussion. $[PRELIMINARY PRINCIPAL AMOUNT]* SALT LAKE CITY, UTAH FEDERALLY TAXABLE GENERAL OBLIGATION BONDS SERIES 2026 DATED: Date of Original Issuance and Delivery DUE: June 15, as shown below The $__________ Federally Taxable General Obligation Bonds, Series 2026 (the “Bonds”), dated the date of original issuance and delivery thereof, are issuable by Salt Lake City, Utah (the “City”) as fully-registered bonds and, when initially issued, will be in book-entry form only, registered in the name of Cede & Co., as nominee for The Depository Trust Company, New York, New York (“DTC”). DTC will act as securities depository for the Bonds. Principal of and interest on the Bonds (interest payable June 15 and December 15 of each year, commencing December 15, 2026) are payable by U.S. Bank Trust Company, National Association, Salt Lake City, Utah, as Paying Agent, to the registered owners thereof, initially DTC. See “THE BONDS — Book-Entry System” herein. The Bonds are subject to optional redemption prior to maturity as described more fully under the heading “THE BONDS — Redemption Provisions” herein. The Bonds will be general obligations of the City payable from the proceeds of ad valorem taxes to be levied without limitation as to rate or amount on all of the taxable property in the City, fully sufficient to pay the Bonds as to both principal and interest. Maturity Schedule (see inside cover) The Bonds will be awarded pursuant to competitive bidding to be held via the PARITY electronic bid submission system on __________, __________, 2026, as set forth in the Official Notice of Bond Sale (dated the date of this Preliminary Official Statement). Stifel, Nicolaus & Company, Incorporated, Salt Lake City, Utah, is acting as Municipal Advisor. The Bonds are offered when, as and if issued and received by the successful bidder(s), subject to the approval of legality by Chapman and Cutler LLP, Bond Counsel to the City, and certain other conditions. Certain legal matters will be passed upon for the City by Mark E. Kittrell, City Attorney. Certain legal matters regarding this Official Statement will be passed upon for the City by Chapman and Cutler LLP, Disclosure Counsel. It is expected that the Bonds will be available for delivery, in book-entry form only, through the facilities of DTC on or about [Closing Date], 2026. This cover page contains certain information for quick reference only. It is not a summary of this issue. Investors must read the entire Official Statement to obtain information essential to the making of an informed investment decision. This Official Statement is dated [Sale Date], 2026 and the information contained herein speaks only as of that date. MATURITY SCHEDULE $[PRELIMINARY PRINCIPAL AMOUNT]* SALT LAKE CITY, UTAH FEDERALLY TAXABLE GENERAL OBLIGATION BONDS SERIES 2026 UE JUNE 15 RINCIPAL AMOUNT NTEREST RATE YIELD 795574 ____________________ * Yield to par call on __________ 15, 203_. - i - $[PRELIMINARY PRINCIPAL AMOUNT]* SALT LAKE CITY, UTAH FEDERALLY TAXABLE GENERAL OBLIGATION BONDS SERIES 2026 Salt Lake City City and County Building 451 South State Street Salt Lake City, Utah 84111 (801) 535-7946 CITY COUNCIL Chris Wharton ........................................................................................................................... Council Chair Alejandro Puy .................................................................................................................. Council Vice Chair Erika Carlsen ........................................................................................................................ Council Member Eva Lopez Chavez ............................................................................................................... Council Member Dan Dugan ........................................................................................................................... Council Member Victoria Petro ....................................................................................................................... Council Member Sarah Young......................................................................................................................... Council Member CITY ADMINISTRATION Erin J. Mendenhall ................................................................................................................................ Mayor Rachel Otto ............................................................................................................................... Chief of Staff Mark E. Kittrell ......................................................................................................................... City Attorney Keith Reynolds.......................................................................................................................... City Recorder Marina Scott ............................................................................................................................. City Treasurer BOND COUNSEL INDEPENDENT AUDITORS Chapman and Cutler LLP Eide Bailly LLP 215 South State, Suite 560 5 Triad Center, Suite 600 Salt Lake City, Utah 84111 Salt Lake City, Utah 84180 (801) 533-0066 (801) 532-2200 MUNICIPAL ADVISOR BOND REGISTRAR AND PAYING AGENT Stifel, Nicolaus & Company, Incorporated U.S. Bank Trust Company, National Association 15 West South Temple, Suite 1090 170 South Main Street, Suite 200 Salt Lake City, Utah 84101 Salt Lake City, Utah 84101 (385) 799-7231 (801) 534-6083 * Preliminary; subject to change. - ii - This Official Statement does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, the Bonds by any person in any jurisdiction in which it is unlawful for such person to make such offer, solicitation or sale. No dealer, broker, salesman or other person has been authorized to give any information or to make any representations other than those contained herein, and if given or made, such other information or representations must not be relied upon as having been authorized by either the City or the successful bidder(s). All information contained herein has been obtained from the City, DTC and from other sources which are believed to be reliable. The information and expressions of opinion herein are subject to change without notice and neither the delivery of this Official Statement nor the issuance, sale, delivery or exchange of the Bonds, shall under any circumstance create any implication that there has been no change in the affairs of the City or in any other information contained herein since the date hereof. The Bonds have not been registered under the Securities Act of 1933, as amended, or any state securities laws in reliance upon exemptions contained in such act and laws. Any registration or qualification of the Bonds in accordance with applicable provisions of the securities laws of the states in which the Bonds have been registered or qualified and the exemption from registration or qualification in other states cannot be regarded as a recommendation thereof. Neither the Securities and Exchange Commission nor any state securities commission has passed upon the accuracy or adequacy of this Official Statement. Any representation to the contrary is unlawful. The yields at which the Bonds are offered to the public may vary from the initial offering yields on the inside cover page of this Official Statement. In addition, the successful bidder(s) may allow concessions or discounts from the initial offering prices of the Bonds to dealers and others. In connection with the offering of the Bonds, the successful bidder(s) may engage in transactions that stabilize, maintain, or otherwise affect the price of the Bonds. Such transactions may include overallotments in connection with the purchase of Bonds, the purchase of Bonds to stabilize their market price and the purchase of Bonds to cover the successful bidder(s)’s short positions. Such transactions, if commenced, may be discontinued at any time. Cautionary Statements Regarding Forward–Looking Statements. Certain statements included in this Official Statement constitute “forward–looking statements” within the meaning of the federal securities laws. Such statements are generally identifiable by the terminology used, such as “plan,” “project,” “forecast,” “expect,” “estimate,” “budget” or other similar words. The achievement of certain results or other expectations contained in such forward- looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements described to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Except as required by its Continuing Disclosure Agreement for the Bonds, the City does not plan to issue any updates or revisions to those forward-looking statements if or when its expectations change or events, conditions or circumstances on which such statements are based occur. The CUSIP (the Committee on Uniform Securities Identification Procedures) identification numbers are provided on the cover page of this Official Statement and are being provided solely for the convenience of bondholders only, and the Board does not make any representation with respect to such numbers or undertake any responsibility for their accuracy. The CUSIP numbers are subject to being changed after the issuance of the Bonds as a result of various subsequent actions including, but not limited to, a refunding in whole or in part of the Bonds. The information available at the internet sites referenced in this Official Statement has not been reviewed for accuracy or completeness. Such information is not incorporated by reference into this Official Statement and may not be relied upon by investors in determining whether to purchase the Bonds and is not a part of this Official Statement. - iii - TABLE OF CONTENTS PAGE INTRODUCTION .................................................................................................................................1 The Bonds ...............................................................................................................................1 The City ..................................................................................................................................1 Security and Source of Payment .............................................................................................1 Authority and Purpose ............................................................................................................1 Redemption Provisions ...........................................................................................................2 Registration, Denominations and Manner of Payment ...........................................................2 Tax Status................................................................................................................................3 Conditions of Delivery, Anticipated Date, Manner and Place of Delivery ............................3 Basic Documentation ..............................................................................................................3 Contact Persons .......................................................................................................................3 Public Sale/Electronic Bid ......................................................................................................4 THE BONDS .......................................................................................................................................4 General ....................................................................................................................................4 Sources and Uses of Funds .....................................................................................................5 Security and Sources of Payment ...........................................................................................5 Redemption Provisions ...........................................................................................................5 Registration and Transfer ........................................................................................................6 Book-Entry System .................................................................................................................7 Debt Service Requirements...................................................................................................10 SALT LAKE CITY, UTAH .................................................................................................................10 City Officials .........................................................................................................................10 City Administration ..............................................................................................................11 Employee Workforce and Retirement System; Postemployment Benefits ..........................12 POPULATION ..........................................................................................................................13 Property Value of Pre-Authorized Construction in the City .................................................13 Sales and Building in Salt Lake County ...............................................................................13 Income and Wages in Salt Lake County ...............................................................................13 Business and Industry ...........................................................................................................14 Labor Market Data of Salt Lake County...............................................................................16 Rate of Unemployment — Annual Average .........................................................................16 DEBT STRUCTURE OF SALT LAKE CITY, UTAH ...............................................................................17 Outstanding Debt Issues .......................................................................................................17 Debt Service Schedule of Outstanding General Obligation Bonds ......................................19 Future Debt Plans ..................................................................................................................20 Overlapping General Obligation Debt ..................................................................................21 Debt Ratios............................................................................................................................21 General Obligation Legal Debt Limit and Additional Debt Incurring Capacity ..................22 No Defaulted Obligations .....................................................................................................22 FINANCIAL INFORMATION REGARDING SALT LAKE CITY, UTAH ....................................................22 PAGE - iv - Fund Structure; Accounting Basis ........................................................................................22 Financial Controls .................................................................................................................23 Budget and Appropriation Process .......................................................................................23 Insurance Coverage ...............................................................................................................24 Investment Policy..................................................................................................................25 Property Tax Matters ............................................................................................................27 Tax Levy and Collection .......................................................................................................28 Public Hearing on Certain Tax Increases ..............................................................................30 Sources of General Fund Revenues ......................................................................................30 Five-Year Financial Summaries ...........................................................................................31 Historical City Tax Rates ......................................................................................................36 Comparative Property Tax Rates Within Salt Lake County .................................................36 Taxable and Fair Market Value of Property .........................................................................37 Historical Summaries of Taxable Values of Property ..........................................................38 Tax Collection Record ..........................................................................................................39 Some of the Largest Taxpayers in the City ...........................................................................39 Recent Developments ...........................................................................................................39 INVESTMENT CONSIDERATIONS ......................................................................................................40 Climate Change .....................................................................................................................40 Cybersecurity ........................................................................................................................40 TAX TREATMENT ............................................................................................................................41 Federal Income Taxation ......................................................................................................41 Utah Income Taxation...........................................................................................................41 LITIGATION .....................................................................................................................................41 CONTINUING DISCLOSURE ..............................................................................................................42 APPROVAL OF LEGAL PROCEEDINGS ...............................................................................................43 BOND RATINGS ...............................................................................................................................43 MUNICIPAL ADVISOR ......................................................................................................................43 INDEPENDENT AUDITORS ................................................................................................................44 MISCELLANEOUS ............................................................................................................................44 APPENDIX A — SALT LAKE CITY CORPORATION FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED JUNE 30, 2025 ............................................................ A-1 APPENDIX B — FORM OF CONTINUING DISCLOSURE AGREEMENT .........................................B-1 APPENDIX C — PROPOSED FORM OF OPINION OF BOND COUNSEL .........................................C-1 $[PRELIMINARY PRINCIPAL AMOUNT]* SALT LAKE CITY, UTAH FEDERALLY TAXABLE GENERAL OBLIGATION BONDS SERIES 2026 INTRODUCTION This introduction is only a brief description of the Bonds, as hereinafter defined, the security and source of payment for the Bonds and certain information regarding Salt Lake City, Utah (the “City”). The information contained herein is expressly qualified by reference to the entire Official Statement. Investors should make a full review of the entire Official Statement. See the following appendices that are attached hereto: “APPENDIX A — SALT LAKE CITY CORPORATION FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED JUNE 30, 2025;” “APPENDIX B — FORM OF CONTINUING DISCLOSURE AGREEMENT” and “APPENDIX C — PROPOSED FORM OF OPINION OF BOND COUNSEL.” THE BONDS This Official Statement, including the cover page, introduction and appendices, provides information in connection with the issuance and sale by the City of its $[Preliminary Principal Amount]* Federally Taxable General Obligation Bonds, Series 2026 (the “Bonds”), each dated the date of original issuance and delivery thereof, initially issued in book-entry form only. THE CITY The City is a municipal corporation and political subdivision of the State of Utah (the “State”) and is the capital of the State. The City is the most populous city in the State with the 2024 estimated population of 217,783 residents. The City has a council-mayor form of government. For more information with respect to the City see “SALT LAKE CITY, UTAH.” SECURITY AND SOURCE OF PAYMENT The Bonds will be general obligations of the City, payable from the proceeds of ad valorem taxes to be levied, without limitation as to rate or amount, on all of the taxable property in the City, fully sufficient to pay the Bonds as to both principal and interest. See “THE BONDS — Security and Sources of Payment” and “FINANCIAL INFORMATION REGARDING SALT LAKE CITY, UTAH — Tax Levy and Collection.” AUTHORITY AND PURPOSE The Bonds are being issued pursuant to (a) the Local Government Bonding Act, Chapter 14 of Title 11 (the “Local Government Bonding Act”) of the Utah Code Annotated 1953, as amended * Preliminary; subject to change. - 2 - (the “Utah Code”), the Registered Public Obligations Act, Chapter 7 of Title 15 of the Utah Code, and the applicable provisions of Title 10 of the Utah Code (collectively, the “Act”), (b) Resolution No. __-2026 of the City adopted on February 17, 2026 (the “Resolution”), which provides for the issuance of the Bonds, and (c) other applicable provisions of law. The Bonds were authorized by an affirmative vote of 71.32% of the voters at a special bond election held for that purpose on November 8, 2022. The proposition submitted to the voters was as follows: City Proposition Number 1 Shall Salt Lake City, Utah, be authorized to issue General Obligation Bonds in a principal amount not to exceed $85,000,000 and to mature in no more than 21 years from the date or dates of issuance; such bonds will be issued in accordance with Utah law solely to pay all or a portion of the costs to acquire, improve, renovate and upgrade various parks, trails, open space and related facilities and recreational amenities? The Bonds are the second block of bonds to be issued from the November 8, 2022 voted authorization. The Bonds are also being issued for the purpose of paying certain costs of issuance. See “THE BONDS — Sources and Uses of Funds.” REDEMPTION PROVISIONS The Bonds are subject to optional redemption prior to maturity as described more fully under the heading “THE BONDS — Redemption Provisions” herein. REGISTRATION, DENOMINATIONS AND MANNER OF PAYMENT The Bonds are issuable only as fully-registered bonds and, when initially issued, will be registered in the name of Cede & Co., as nominee for The Depository Trust Company, New York, New York (“DTC”), which will act as securities depository of the Bonds. Purchases of Bonds will be made in book-entry form only, in the principal amount of $5,000 or any whole multiple thereof, through brokers and dealers who are, or who act through, DTC participants. Beneficial owners of the Bonds will not be entitled to receive physical delivery of bond certificates so long as DTC or a successor securities depository acts as the securities depository with respect to the Bonds. Principal of and interest on the Bonds (interest payable June 15 and December 15 of each year, commencing December 15, 2026) are payable by U.S. Bank Trust Company, National Association, Salt Lake City, Utah, as Paying Agent (the “Paying Agent”), to the registered owners of the Bonds. So long as DTC is the registered owner, it will, in turn, remit such principal and interest to its participants, for subsequent disbursements to the beneficial owners of the Bonds, as described in “THE BONDS — Book-Entry System.” - 3 - [TAX STATUS Interest on the Bonds is includible in gross income of the owners thereof for federal income tax purposes. In the opinion of Bond Counsel, under the existing laws of the State, as presently enacted and construed, interest on the Bonds is exempt from taxes imposed by the Utah Individual Income Tax Act. See “TAX TREATMENT” for a more complete discussion.] CONDITIONS OF DELIVERY, ANTICIPATED DATE, MANNER AND PLACE OF DELIVERY The Bonds are offered when, as and if issued and received by the successful bidder(s), subject to the approval of legality of the Bonds by Chapman and Cutler LLP, Bond Counsel, and certain other conditions. Certain legal matters will be passed upon for the City by the City Attorney. Certain legal matters regarding this Official Statement will be passed upon for the City by Chapman and Cutler LLP, Disclosure Counsel. It is expected that the Bonds, in book-entry form only, will be available for delivery through the facilities of DTC on or about [Closing Date], 2026. BASIC DOCUMENTATION The “basic documentation,” which includes the Resolution, the closing documents and other documentation authorizing the issuance of the Bonds and establishing the rights and responsibilities of the City and other parties to the transaction, may be obtained from the “contact persons” listed below. CONTACT PERSONS As of the date of this Official Statement, the chief contact person for the City concerning the Bonds is: Marina Scott, City Treasurer 451 South State Street, Room 228 P.O. Box 145462 Salt Lake City, Utah 84114-5462 (801) 535-6565 marina.scott@slcgov.com - 4 - Additional requests for information may be directed to the City’s Municipal Advisor as follows: John Crandall, Managing Director Elizabeth Read, Director Stifel, Nicolaus & Company, Incorporated 15 West South Temple, Suite 1090 Salt Lake City, Utah 84101 (385) 799-7231 crandallj@stifel.com reade@stifel.com PUBLIC SALE/ELECTRONIC BID The Bonds were awarded pursuant to competitive bidding held via the PARITY® electronic bid submission system on [Long Sale Date], 2026, as set forth in the Official Notice of Bond Sale (dated [POS Date], 2026) to _______________ of __________, __________ (the “Purchaser”), at a “true interest rate” of ________%. THE BONDS GENERAL The Bonds will be dated the date of original issuance and delivery thereof and will mature on June 15 of the years and in the amounts as set forth on the inside cover page of this Official Statement. The Bonds will bear interest from their date at the rates set forth on the cover page of this Official Statement. Interest on the Bonds is payable semiannually on each June 15 and December 15, commencing December 15, 2026. Interest on the Bonds will be computed on the basis of a 360-day year of twelve 30-day months. U.S. Bank Trust Company, National Association, Salt Lake City, Utah, is the Bond Registrar for the Bonds under the Resolution (the “Bond Registrar”). The Bonds will be issued as fully-registered bonds, initially in book-entry form only, in the denomination of $5,000 or any whole multiple thereof, not exceeding the amount of each maturity. The Bonds are being issued within the constitutional debt limit imposed on the City. See “DEBT STRUCTURE OF SALT LAKE CITY, UTAH — General Obligation Legal Debt Limit and Additional Debt Incurring Capacity.” - 5 - SOURCES AND USES OF FUNDS The sources and uses of funds in connection with the issuance of the Bonds are estimated to be as follows: TOTAL $ _________________________ (1) Includes Municipal Advisor fees, legal fees, rating agency fees, registrar and paying agent fees, printing and other miscellaneous costs of issuance. SECURITY AND SOURCES OF PAYMENT The Bonds will be general obligations of the City, payable from the proceeds of ad valorem taxes to be levied without limitation as to rate or amount on all of the taxable property in the City, fully sufficient to pay the Bonds as to both principal and interest. See “FINANCIAL INFORMATION REGARDING SALT LAKE CITY, UTAH — Property Tax Matters.” REDEMPTION PROVISIONS Optional Redemption. The Bonds maturing on or after June 15, 20__, are subject to redemption prior to maturity, at the election of the City, on __________ 15, 20__ (the “First Redemption Date”), and on any date thereafter, in whole or in part, from such maturities or parts thereof as will be selected by the City, upon notice given as provided in the Resolution and described below, at a redemption price equal to 100% of the principal amount of the Bonds to be redeemed plus accrued interest thereon to the date fixed for redemption. Bonds maturing on or prior to the First Redemption Date are not subject to optional redemption. Selection for Redemption. If less than all of the Bonds of any maturity are to be redeemed, the particular Bonds or portion of Bonds of such maturity to be redeemed will be selected at random by the Bond Registrar in such manner as the Bond Registrar in its discretion may deem fair and appropriate. The portion of any registered Bond of a denomination of more than $5,000 to be redeemed will be in the principal amount of $5,000 or a whole multiple thereof, and in selecting portions of such Bonds for redemption, the Bond Registrar will treat each such Bond as - 6 - representing that number of Bonds of $5,000 denomination that is obtained by dividing the principal amount of such Bond by $5,000. Notice of Redemption. Notice of redemption will be given by the Bond Registrar by registered or certified mail, not less than 30 nor more than 45 days prior to the redemption date, to the owner thereof, as of the Record Date, as defined in “THE BONDS — Registration and Transfer,” of each Bond that is subject to redemption, at the address of such owner as it appears in the registration books of the City kept by the Bond Registrar, or at such other address as is furnished to the Bond Registrar in writing by such owner on or prior to the Record Date. Each notice of redemption will state the Record Date, the principal amount, the redemption date, the place of redemption, the redemption price and, if less than all of the Bonds are to be redeemed, the distinctive numbers of the Bonds or portions of Bonds to be redeemed, and will also state that the interest on the Bonds in such notice designated for redemption will cease to accrue from and after such redemption date and that on the redemption date there will become due and payable on each of the Bonds to be redeemed the principal thereof and interest accrued thereon to the redemption date. Each notice of optional redemption may further state that such redemption will be conditioned upon the receipt by the Paying Agent, on or prior to the date fixed for such redemption, of moneys sufficient to pay the principal of and premium, if any, and interest on such Bonds to be redeemed and that if such moneys have not been so received said notice will be of no force and effect and the City will not be required to redeem such Bonds. In the event that such notice of redemption contains such a condition and such moneys are not so received, the redemption will not be made and the Bond Registrar will within a reasonable time thereafter give notice, in the manner in which the notice of redemption was given, that such moneys were not so received. Any notice mailed as described above will be conclusively presumed to have been duly given, whether or not the Bondowner receives such notice. Failure to give such notice or any defect therein with respect to any Bond will not affect the validity of the proceedings for redemption with respect to any other Bond. In addition to the foregoing notice, further notice of such redemption will be given by the Bond Registrar to certain registered national securities depositories and national information services as provided in the Bond Resolution, but no defect in such further notice or any failure to give all or any portion of such further notice will in any manner affect the validity of a call for redemption if notice thereof is given as prescribed above and in the Bond Resolution. For so long as a book-entry system is in effect with respect to the Bonds, the Bond Registrar will mail notices of redemption to DTC or its successor. Any failure of DTC to convey such notice to any DTC participants or any failure of the DTC participants or indirect participants to convey such notice to any beneficial owner will not affect the sufficiency of the notice or the validity of the redemption of the Bonds. See “THE BONDS — Book-Entry System.” REGISTRATION AND TRANSFER In the event the book-entry system is discontinued, any Bond may, in accordance with its terms, be transferred, upon the registration books kept by the Bond Registrar, by the person in whose name it is registered, in person or by such owner’s duly authorized attorney, upon surrender of such Bond for cancellation, accompanied by delivery of a duly executed written instrument of - 7 - transfer in a form approved by the Bond Registrar. No transfer will be effective until entered on the registration books kept by the Bond Registrar. Whenever any Bond is surrendered for transfer, the Bond Registrar will authenticate and deliver a new fully-registered Bond or Bonds of the same series, designation, maturity and interest rate and of authorized denominations duly executed by the City, for a like aggregate principal amount. Bonds may be exchanged at the principal corporate trust office of the Bond Registrar for a like aggregate principal amount of fully-registered Bonds of the same series, designation, maturity and interest rate of other authorized denominations. For every such exchange or transfer of the Bonds, the Bond Registrar must make a charge sufficient to reimburse it for any tax or other governmental charge required to be paid with respect to such exchange or transfer of the Bonds. The Bond Registrar will not be required to transfer or exchange any Bond (a) after the Record Date, as defined below, with respect to any interest payment date to and including such interest payment date, or (b) after the Record Date with respect to any redemption of such Bond. “Record Date” means the day that is 15 days preceding each interest payment date, or if such day is not a business day for the Bond Registrar, the next preceding day that is a business day for the Bond Registrar. The City, the Bond Registrar and the Paying Agent may treat and consider the person in whose name each Bond is registered in the registration books kept by the Bond Registrar as the holder and absolute owner thereof for the purpose of receiving payment of, or on account of, the principal or redemption price thereof and interest due thereon and for all other purposes whatsoever. BOOK-ENTRY SYSTEM The Depository Trust Company (“DTC”), New York, NY, will act as securities depository for the Bonds. The Bonds will be issued as fully-registered securities registered in the name of Cede & Co. (DTC’s partnership nominee) or such other name as may be requested by an authorized representative of DTC. One fully-registered Bond certificate will be issued for each maturity of the Bonds, each in the aggregate principal amount of such maturity, and will be deposited with DTC. DTC, the world’s largest depository, is a limited-purpose trust company organized under the New York Banking Law, a “banking organization” within the meaning of the New York Banking Law, a member of the Federal Reserve System, a “clearing corporation” within the meaning of the New York Uniform Commercial Code, and a “clearing agency” registered pursuant to the provisions of Section 17A of the Securities Exchange Act of 1934. DTC holds and provides asset servicing for over 3.5 million issues of U.S. and non-U.S. equity issues, corporate and municipal debt issues, and money market instruments (from over 100 countries) that DTC’s participants (“Direct Participants”) deposit with DTC. DTC also facilitates the post-trade settlement among Direct Participants of sales and other securities transactions in deposited securities, through electronic computerized book-entry transfers and pledges between Direct - 8 - Participants’ accounts. This eliminates the need for physical movement of securities certificates. Direct Participants include both U.S. and non-U.S. securities brokers and dealers, banks, trust companies, clearing corporations, and certain other organizations. DTC is a wholly-owned subsidiary of The Depository Trust & Clearing Corporation (“DTCC”). DTCC is the holding company for DTC, National Securities Clearing Corporation and Fixed Income Clearing Corporation, all of which are registered clearing agencies. DTCC is owned by the users of its regulated subsidiaries. Access to the DTC system is also available to others such as both U.S. and non-U.S. securities brokers and dealers, banks, trust companies, and clearing corporations that clear through or maintain a custodial relationship with a Direct Participant, either directly or indirectly (“Indirect Participants”). DTC has a Standard & Poor’s rating of AA+. The DTC rules applicable to its Participants are on file with the Securities and Exchange Commission. More information about DTC can be found at www.dtcc.com. Purchases of the Bonds under the DTC system must be made by or through Direct Participants, which will receive a credit for the Bonds on DTC’s records. The ownership interest of each actual purchaser of each Bond (“Beneficial Owner”) is in turn to be recorded on the Direct and Indirect Participants’ records. Beneficial Owners will not receive written confirmation from DTC of their purchase. Beneficial Owners are, however, expected to receive written confirmations providing details of the transaction, as well as periodic statements of their holdings, from the Direct or Indirect Participant through which the Beneficial Owner entered into the transaction. Transfers of ownership interests in the Bonds are to be accomplished by entries made on the books of Direct and Indirect Participants acting on behalf of Beneficial Owners. Beneficial Owners will not receive certificates representing their ownership interests in the Bonds, except in the event that use of the book-entry system for the Bonds is discontinued. To facilitate subsequent transfers, all Bonds deposited by Direct Participants with DTC are registered in the name of DTC’s partnership nominee, Cede & Co., or such other name as may be requested by an authorized representative of DTC. The deposit of the Bonds with DTC and their registration in the name of Cede & Co. or such other DTC nominee do not effect any change in beneficial ownership. DTC has no knowledge of the actual Beneficial Owners of the Bonds; DTC’s records reflect only the identity of the Direct Participants to whose accounts such Bonds are credited, which may or may not be the Beneficial Owners. The Direct and Indirect Participants will remain responsible for keeping account of their holdings on behalf of their customers. Conveyance of notices and other communications by DTC to Direct Participants, by Direct Participants to Indirect Participants, and by Direct Participants and Indirect Participants to Beneficial Owners will be governed by arrangements among them, subject to any statutory or regulatory requirements as may be in effect from time to time. Beneficial Owners of the Bonds may wish to take certain steps to augment transmission to them of notices of significant events with respect to the Bonds, such as redemptions, tenders, defaults, and proposed amendments to the Bond documents. For example, Beneficial Owners of the Bonds may wish to ascertain that the nominee holding the Bonds for their benefit has agreed to obtain and transmit notices to Beneficial Owners. In the alternative, Beneficial Owners may wish to provide their names and addresses to the Bond Registrar and request that copies of notices be provided directly to them. - 9 - Redemption notices shall be sent to DTC. If less than all of the Bonds within an issue are being redeemed, DTC’s practice is to determine by lot the amount of the interest of each Direct Participant in such issue to be redeemed. Neither DTC nor Cede & Co. (nor any other DTC nominee) will consent or vote with respect to the Bonds unless authorized by a Direct Participant in accordance with DTC’s MMI procedures. Under its usual procedures, DTC mails an omnibus proxy to the City as soon as possible after the record date. The omnibus proxy assigns Cede & Co.’s consenting or voting rights to those Direct Participants to whose accounts the Bonds are credited on the record date (identified in a listing attached to the omnibus proxy). As long as the book-entry system is in effect, redemption proceeds, distributions, and dividend payments on the Bonds will be made to Cede & Co., or such other nominee as may be requested by an authorized representative of DTC. DTC’s practice is to credit Direct Participants’ accounts upon DTC’s receipt of funds and corresponding detailed information from the City or the Paying Agent, on payable date in accordance with their respective holdings shown on DTC’s records. Payments by Participants to Beneficial Owners will be governed by standing instructions and customary practices, as is the case with securities held for the accounts of customers in bearer form or registered in “street name,” and will be the responsibility of such Participant and not of DTC, the Paying Agent, or the City, subject to any statutory or regulatory requirements as may be in effect from time to time. Payment of redemption proceeds, distributions, and dividend payments to Cede & Co. (or such other nominee as may be requested by an authorized representative of DTC) is the responsibility of the City or the Paying Agent, disbursement of such payments to Direct Participants will be the responsibility of DTC, and disbursement of such payments to Beneficial Owners will be the responsibility of Direct and Indirect Participants. DTC may discontinue providing its services as depository with respect to the Bonds at any time by giving reasonable notice to the City or the Paying Agent. Under such circumstances, in the event that a successor securities depository is not obtained, Bond certificates are required to be printed and delivered. The City may decide to discontinue use of the system of book-entry transfers through DTC (or a successor securities depository). In that event, Bond certificates will be printed and delivered to DTC. The information in this section concerning DTC and DTC’s book-entry system has been obtained from sources that the City believes to be reliable, but the City takes no responsibility for the accuracy thereof. - 10 - DEBT SERVICE REQUIREMENTS The following table shows the debt service requirements for the Bonds for each fiscal year: UNE RINCIPAL NTEREST OTAL TOTAL**: $ $ $ ____________________ * Preliminary; subject to change. ** Amounts may not add due to rounding. SALT LAKE CITY, UTAH CITY OFFICIALS The City has a Council-Mayor form of government. The City Council consists of seven members, who are elected by voters within seven geographic districts of approximately equal population. The Mayor is elected at large by the voters of the City and is charged with the executive and administrative duties of the government. The seven-member, part-time City Council is charged with the responsibility of performing the legislative functions of the City. The City Council performs three primary functions: it passes laws for the City, adopts the City budget and provides administrative oversight by conducting management and operational audits of City departments. - 11 - Term information concerning the Mayor and the members of the City Council is set forth below: OFFICE DISTRICT PERSON EARS N SERVICE XPIRATION OF CURRENT TERM CITY ADMINISTRATION The offices of Chief of Staff, City Attorney, City Recorder and City Treasurer are appointed offices. Rachel Otto, Chief of Staff, was appointed to her position in November 2019. Before becoming Mayor Mendenhall’s chief of staff Ms. Otto worked as Government Relations Director for the Utah League of Cities and Towns. In that capacity, she developed policy and advocated for local government at the State Legislature. Ms. Otto, trained as an attorney, also served as a deputy city attorney for West Jordan, assistant city attorney for South Jordan, and worked in private practice for several years after graduating from the University of Utah’s College of Law in 2008. Mark E. Kittrell, City Attorney, was appointed as City Attorney on February 18, 2025. Mr. Kittrell served as Deputy City Attorney from January 2020 until his appointment, and as Senior City Attorney from May 2014 to January 2020. Mr. Kittrell received his law degree from the University of Utah S.J. Quinney College of Law in 2003 and received his undergraduate degree from Northwestern University in 1998. Mr. Kittrell was a shareholder at Fabian & Clendenin (now Fabian VanCott) prior to joining the Salt Lake City Attorney’s office. Keith Reynolds, City Recorder, was appointed as City Recorder on January 22, 2025. Prior to this position, Mr. Reynolds was the Deputy City Recorder where he oversaw records management and GRAMA requests for the City. Mr. Reynolds has worked as a records manager for the City in various capacities for over 9 years and prior to that worked as an archivist at the University of Wyoming. Mr. Reynolds received his undergraduate degree from Northern Arizona University in 2004 and completed a Master of Arts degree in public history from the University of Wyoming in 2011. Marina Scott, City Treasurer, was appointed to her position on June 4, 2013. From December 2006 until her appointment, Ms. Scott was Deputy Treasurer for the City; and from September 2005 until December 2006 she served as an Accountant III for the Public Services - 12 - Department. Ms. Scott holds a Bachelor of Science degree in Accounting, and a Master of Professional Accountancy from Weber State University. She also holds a Master of Arts in Library and Information Science from Vilnius State University. EMPLOYEE WORKFORCE AND RETIREMENT SYSTEM; POSTEMPLOYMENT BENEFITS Employee Workforce and Retirement System. The City currently employs approximately 3544 full-time employees and approximately 726 hourly and part-time employees for a total employment of approximately 4270 employees. Through the Utah Retirement System (“URS”), the City participates in six separate pension trust funds consisting of (a) three multiple employer public employees retirement systems or funds, (b) one multiple-employer agent system or fund and (c) two multiple employer cost sharing public employees retirement systems or funds, each of which is a defined benefit retirement plan covering public employees of the State and employees of participating local governmental entities (the “Funds”). The Funds are administered under the direction of the Utah State Retirement Board whose members are appointed by the Governor of the State. The City also participates in four defined contribution savings plans with URS, including a 401(k) plan, a 457(b) plan, a Roth IRA plan and a traditional IRA plan. See “APPENDIX B – SALT LAKE CITY CORPORATION FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED JUNE 30, 2025 – Notes to Financial Statements – Note 6 – Long-Term Obligations,” “– Note 12 – Pension Plans” and “– Note 13 – Defined Contribution Savings Plans.” Retirement Liability. URS is funded and administered by the State. Each year, as approved by the State Legislature, URS sets rates, enacts rules, and implements policies related to the pensions and benefits the City retirees receive through each of the Funds. Starting in Fiscal Year 2015, GASB Statement Number 68 requires URS to pass on pension and retirement liability to public entities it serves, including the City. Working with the City’s independent auditors and State specialists, the City’s financial statements for the Fiscal Year ending June 30, 2025 are currently expected to show a net pension asset in the amount of $42,824,173 for one of the Funds and total net pension liabilities in the other five Funds of $103,726,433. As each Fund is a separate trust fund, the assets in one Fund cannot be used to cover the liabilities in another. See “APPENDIX B – SALT LAKE CITY CORPORATION FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED JUNE 30, 2025 – Notes to Financial Statements– Note 12 – Pension Plans.” No Other Post-Employment Benefits. The City does not offer post-employment benefits; however, the City’s library system (the “Library”) provides certain employees with post- employment health care benefits through a single employer defined benefit plan. The benefits are paid on a “pay-as-you-go” basis from the Library’s general fund and can be amended or terminated at any time. See “APPENDIX B – SALT LAKE CITY CORPORATION FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED JUNE 30, 2025 – Notes to Financial Statements– Note 14 – Other Post Employment Benefits.” - 13 - POPULATION YEAR THE CITY NCREASE FROM PRIOR PERIOD ALT LAKE COUNTY NCREASE FROM PRIOR PERIOD THE STATE NCREASE FROM PRIOR PERIOD _________________________ (Source: U.S. Census Bureau, as revised and subject to periodic revision.) PROPERTY VALUE OF PRE-AUTHORIZED CONSTRUCTION IN THE CITY DDITIONS OTAL Number Dwelling Residential Value residential Value Residential Value residential Value Value from Prior ____________________ * Through October 2024 (Source: Kem C. Gardner Policy Institute, University of Utah—Ivory-Boyer Construction Database.) SALES AND BUILDING IN SALT LAKE COUNTY ALES AND UILDING ____________________ (Source: Utah State Tax Commission.) INCOME AND WAGES IN SALT LAKE COUNTY INCOME AND WAGES 2024 2023 2022 2021 2020 ____________________ (Source: Utah Department of Workforce Services.) - 14 - BUSINESS AND INDUSTRY LOCAL OPTION SALES TAX ALLOCATION — THE CITY YEAR ENDED JUNE 30 LOCAL OPTION SALES TAXES RECEIVED % CHANGE OVER PRIOR YEAR ____________________ * Source: Utah State Tax Commission. - 15 - SEVERAL OF THE LARGEST EMPLOYERS IN SALT LAKE COUNTY The following is a list of some of the largest employers in Salt Lake County. RANK COMPANY INDUSTRY NNUAL AVERAGE EMPLOYMENT _____________________ (Source: Utah Department of Workforce Services. As of October 2025.) - 16 - LABOR MARKET DATA OF SALT LAKE COUNTY ____________________ RATE OF UNEMPLOYMENT — ANNUAL AVERAGE YEAR SALT LAKE COUNTY THE STATE UNITED STATES ____________________ * As of December 2024 (seasonally adjusted). (Source: Utah Department of Workforce Services; U.S. Department of Labor.) - 17 - DEBT STRUCTURE OF SALT LAKE CITY, UTAH For purposes of the information set forth under this section under the headings entitled “Outstanding Debt Issues,” “Debt Service Schedule of Outstanding General Obligation Bonds,” “Overlapping General Obligation Debt,” “Debt Ratios,” and “General Obligation Legal Debt Limit and Additional Debt Incurring Capacity,” the Bonds are considered issued and outstanding. OUTSTANDING DEBT ISSUES (EXPECTED AS OF CLOSING DATE OF THE BONDS) (1) MOUNT OF INAL RINCIPAL ------------------------- * Preliminary; subject to change. (1) The Redevelopment Agency of Salt Lake City, a separate entity, has issued bonds, but such bonds are not obligations of the City and are therefore not included in this table. See “APPENDIX B—SALT LAKE CITY CORPORATION FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED JUNE 30, 2024—Notes to the Financial Statements—Note 6–Long-Term Obligations.” (2) Amount shown is the amount drawn down and received from the WIFIA Loan as of the date of this Official Statement. - 18 - (3) The Series 2024A Bonds are outstanding in the aggregate principal amount of $39,525,000; however, $19,350,000 will be forgiven by the bondholder. See “—Recent System Debt” below. (4) The Local Building Authority of Salt Lake City is a separate entity. Lease Revenue Bonds are not obligations of the City, but are paid from annually appropriated rental payments made by the City. - 19 - In addition to the outstanding debt listed in the table above, in 2021 the City received a $7,000,000 infrastructure loan to finance a portion of the cost of a neighborhood parking structure through a revolving fund called the Utah State Infrastructure Bank Fund. The loan bears interest at rate of 1.96%, and the term is 15 years. To secure the repayment of the loan, the City pledged the funds allocated by the State of Utah by Section 72-2-121(4) of the Utah Code and the City’s innkeepers tax if the State of Utah fails to make its annual payments to the City. Additionally, the City issued its Public Utilities Revenue Bonds, Series 2024A (the “Series 2024A Bonds”) in the aggregate principal amount of $39,525,000; however, $19,350,000 will be treated as a grant and forgiven for work performed in certain census tracts. The Series 2024A Bonds secure a loan under that State’s Revolving Loan Fund and, instead of bearing interest, are charged a 1.5% per annum assessment fee. Proceeds from the Series 2024A Bonds will be used by the Department of Public Utilities (“Public Utilities”) to assist with meeting regulatory requirements, in particular lead service line identification and replacement and water main replacement as needed. Line replacements will focus on, among other things, known lead service lines or galvanized lines requiring replacement, addressing vulnerable populations to lead exposure and sample results and customer participation. The Series 2024A Bonds are secured by and payable from revenues of the City’s public utilities system. The City issued $604.5 million in additional general airport revenue bonds on August 5, 2025. This was expected to be the last bond issuance to fully complete funding for the $5.1 billion airport reconstruction program. The reconstruction program is currently expected to be completed by the Fall of 2026. These bonds are secured by and payable from revenues of the City’s airport system. DEBT SERVICE SCHEDULE OF OUTSTANDING GENERAL OBLIGATION BONDS (As of __________, 2026) General Obligation Bonds Totals - 20 - Total** $ $ $125,130,000 $36,976,783 $ $ $ ____________________ * Preliminary; subject to change. ** Amounts may not add due to rounding. FUTURE DEBT PLANS The City anticipates issuing the remaining bonds authorized at the November 8, 2022 election in several series over the next few years. Public utilities revenue bonds of approximately $356 million are expected to be issued over the next five years to fund the Public Utilities capital improvement program. A major focus of Public Utilities’ budget is the rehabilitation and replacement of aging infrastructure. The additional bonds are currently expected to fund improvements to three water treatment plants, phased construction of a new water conveyance line to expand service and provide redundancy, and water, sewer and stormwater utility infrastructure upgrades and replacements including work necessitated by street improvement projects. City administration continuously evaluates the City’s funding of its Capital Improvement Program, and the proceeds of lease revenue bonds and sales tax revenue bonds will be considered as one of the sources for funding the City’s capital infrastructure. The City analyzes the potential value of refunding bond issues, particularly during periods of lower than normal interest rates or on an as needed basis and may issue refunding bonds at such times. - 21 - OVERLAPPING GENERAL OBLIGATION DEBT (1) 2024 TAXABLE (2) ITY S PORTION OF (2) CITY’S NTITY S GENERAL OBLIGATION DEBT (3) ITY S PORTION OF (4) Total Overlapping General Obligation Debt ........................................................................................................... $183,385,887 Total Direct General Obligation Bonded Indebtedness ........................................................................................... $ * _________________________ * Preliminary; subject to change. (1) The State’s general obligation debt is not included in overlapping debt because the State currently levies no property tax for payment of its general obligation bonds. (2) Taxable Value used in this table excludes the taxable value used to determine uniform fees on tangible personal property. See “FINANCIAL INFORMATION REGARDING SALT LAKE CITY, UTAH — Property Tax Matters — Uniform Fees” and “FINANCIAL INFORMATION REGARDING SALT LAKE CITY, UTAH — Taxable and Fair Market Value of Property.” (3) Entity’s General Obligation Debt used in this table is as of June 30, 2024 in the case of CUWCD, June 30, 2024 in the case Salt Lake City School District, and December 31, 2024 in the case of Salt Lake County. (4) Central Utah Water Conservancy District (“CUWCD”) encompasses all or a portion of eight State counties, including, among others, Salt Lake County. CUWCD’s outstanding general obligation bonds are limited ad valorem tax bonds. By law, CUWCD may levy a tax rate of up to 0.000400 to pay for operation and maintenance expenses and any outstanding general obligation indebtedness. (Source: Property Tax Division, Utah State Tax Commission (as to Taxable Value) and entity financial information (as to outstanding general obligation debt).) DEBT RATIOS The following table sets forth the ratios of general obligation debt of the City and the taxing entities listed in the table above entitled “Overlapping General Obligation Debt” that is expected to be paid from taxes levied specifically for such debt (and not from other revenues) on the taxable value of property within Salt Lake City, the estimated fair market value of such property and the population of Salt Lake City. The State’s general obligation debt is not included in the debt ratios because the State currently levies no property tax for payment of general obligation debt. OMPARED TO 2024 TAXABLE VALUE (1) OMPARED TO 2024 ESTIMATED FAIR MARKET VALUE (2) OMPARED O POPULATION ESTIMATE PER CAPITA (3) Direct and Overlapping General _________________________ * Preliminary; subject to change. (1) Based on 2024 Taxable Value of $56,932,846,081, which value excludes the taxable value used to determine uniform fees on tangible personal property. (2) Based 2024 Fair Market Value of $74,738,376,606, which value excludes motor vehicle values. (3) Based on a 2024 estimated population of 217,783 persons. - 22 - See “FINANCIAL INFORMATION REGARDING SALT LAKE CITY, UTAH — Property Tax Matters — Uniform Fees” and “FINANCIAL INFORMATION REGARDING SALT LAKE CITY, UTAH — Taxable and Fair Market Value of Property.” GENERAL OBLIGATION LEGAL DEBT LIMIT AND ADDITIONAL DEBT INCURRING CAPACITY The general obligation indebtedness of the City is limited by State law to 8% of taxable property in the City (4% for general purposes and an additional 4% for sewer, water and electric purposes†) as computed from the last equalized assessment rolls for State or County purposes prior to incurring the debt. The legal debt limit and additional debt incurring capacity of the City are based on the estimated fair market value for 2021 and are calculated as follows: (1) LEGAL DEBT MARGIN GENERAL PURPOSES 4% WATER, SEWER, AND LIGHTING 4% TOTAL 8% Less: Outstanding General Obligation Legal Debt Margin* _________________________ * Preliminary; subject to change. † The full 8% may be used for water, sewer and electric purposes but if it is so used, then no general obligation bonds may be issued in excess of 8% for any purpose. (1) For debt incurring capacity only, in computing the fair market value of taxable property in the City, the fair market value of all tax equivalent property (which value includes the taxable value used to determine uniform fees on tangible personal property) has been included as a part of the fair market value of the taxable property in the City. NO DEFAULTED OBLIGATIONS The City has never failed to pay principal of and interest on its financial obligations when due. FINANCIAL INFORMATION REGARDING SALT LAKE CITY, UTAH FUND STRUCTURE; ACCOUNTING BASIS The accounts of the City are organized on the basis of funds, each of which is considered to be a separate accounting entity. The operations of each fund are accounted for by providing a separate set of self-balancing accounts that comprise its assets, liabilities, fund balance or net assets, revenues, and expenditures or expenses. The various funds are grouped by type in the basic financial statements. Revenues and expenditures are recognized using the modified accrual basis of accounting in all governmental funds. Revenues are recognized in the accounting period in which they become both measurable and available. “Measurable” means that amounts can be reasonably determined within the current period. “Available” means that amounts are collectible within the - 23 - current period or soon enough thereafter to be used to pay liabilities of the current period. The City uses 60 days as a cutoff for meeting the available criterion. Property taxes are considered “measurable” when levied and available when collected and held by Salt Lake County. Any amounts not available are recorded as deferred revenue. Franchise taxes are considered “measurable” when collected and held by the utility company, and are recognized as revenue at that time. Other revenues that are determined to be susceptible to accrual include grants-in-aid earned and other intergovernmental revenues, charges for services, interest, assessments, interfund service charges, and proceeds of the sale of property. Property taxes and assessments are recorded as receivables when assessed; however, they are reported as deferred revenue until the “available” criterion has been met. Sales and use taxes collected by the State and remitted to the City within the “available” time period are recognized as revenue. Revenues collected in advance are deferred and recognized in the period to which they apply. In proprietary funds, revenues and expenses are recognized using the accrual basis of accounting. Revenues are recognized in the accounting period in which they are earned and become measurable and expenses are recognized in the period incurred. FINANCIAL CONTROLS The City utilizes a computerized financial accounting system which includes a system of budgetary controls. State law requires budgets to be controlled by individual departments, but the City also maintains computerized control by major categories within departments. These computerized controls are such that a requisition cannot be entered into the purchasing system unless the appropriated funds are available. The system checks for sufficient funds again, prior to the purchase order being issued, and again before the payment check is issued. Voucher payments are also controlled by the computer for sufficient appropriations. BUDGET AND APPROPRIATION PROCESS The budget and appropriation process of the City is governed by the Uniform Fiscal Procedures Act for Utah Cities, Title 10, Chapter 6, of the Utah Code (the “Fiscal Procedures Act”). Pursuant to the Fiscal Procedures Act, the budget officer of the City is required to prepare budgets for the General Fund, Special Revenue Funds, Debt Service Funds and Capital Improvement Fund. These budgets are to provide a complete financial plan for the budget (ensuing fiscal) year. Each budget is required to specify, in tabular form, estimates of anticipated revenues and appropriations for expenditures. Under the Fiscal Procedures Act, the total of anticipated revenues must equal the total of appropriated expenditures. On or before the first regular meeting of the City Council in May of each year, the budget officer is required to submit to the City Council tentative budgets for all funds for the Fiscal Year commencing July 1. Various actual and estimated budget data are required to be set forth in the tentative budgets. The budget officer may revise the budget request submitted by the heads of City departments, but must file these submissions with the City Council together with the tentative budget. The budget officer is required to estimate in the tentative budget the revenue from nonproperty tax sources available for each fund and the revenue from general property taxes required by each fund. The tentative budget is then provisionally adopted by the City Council, - 24 - with any amendments or revisions that the City Council deems advisable prior to the public hearings on the tentative budget. After public notice and hearing, the tentative budget is adopted by the City Council, subject to further amendment or revisions by the City Council prior to adoption of the final budget. Prior to June 30th of each year, the final budgets for all funds are adopted by the City Council. The Fiscal Procedures Act prohibits the City Council from making any appropriation in the final budget of any fund in excess of the estimated expendable revenue of such fund. The adopted final budget is subject to amendment by the City Council during the Fiscal Year. However, in order to increase the budget total of any fund, public notice and hearing must be provided. Intra- and inter-department transfers of appropriation balances are permitted upon compliance with the Fiscal Procedures Act. The amount set forth in the final budget as the total amount of estimated revenue from property taxes constitutes the basis for determining the property tax levy to be set by the City Council for the succeeding tax year. INSURANCE COVERAGE The City is largely self-insured for general liability exposures, except for liability incurred on premises owned, rented, or occupied by the Department of Airports (the “Airport”) and cyber liability insurance. The Airport carries commercial general liability insurance with a $500,000,000 policy limit and no deductible. The Governmental Immunity Fund (an internal service fund) has been established to pay liability claims other than those covered by the Airport policy, along with certain litigation expenses. The City carries an all risk property insurance policy (the “Policy”) with a $500,000,000 aggregate limit and a $100,000 deductible, except for earthquake, which carries a 1% deductible per location; and flood, which carries a $250,000 or $500,000 deductible, depending on location. Sub-limits include: (1) earthquake limit of $125,000,000 aggregate; (2) flood limit of $100,000,000 aggregate; (3) dams and appurtenant structures limit of $30,000,000 aggregate except for Mountain Dell, which carries a $60,000,000 aggregate limit; (4) business interruption and extra expense are covered at $10,000,000; and (5) terrorism loss is covered at $5,000,000. The City is self-insured for property loss above the limits and below the deductibles. The operating departments of the General Fund or proprietary funds assume financial responsibility for risk retained by the City for property damage. The Airport is covered by a separate all risk property insurance policy with a $1,000,000,000 limit, subject to sub-limits and a $100,000 deductible. Locations covered include Salt Lake City International Airport, South Valley Regional Airport, and Tooele Valley Airport. Boiler and machinery carry a deductible of $100,000. Flood carries a sub-limit of $150,000,000 and Earth movement carries sub-limit of $100,000,000 with a 2% deductible per unit, subject to a $100,000 minimum and $5,000,000 maximum in any one occurrence (defined as a 168-hour period). Windstorm or hail carries a $1,000,000,000 limit, subject to a minimum $100,000 deductible per occurrence. Time element including business interruption, extra expense, rental value, and rental income is covered at $200,000,000 with a $100,000 deductible. Sub-limits apply - 25 - for debris removal ($25,000,000), valuable papers and records ($25,000,000), errors and omissions ($10,000,000), and named storm ($1,000,000,000). The Treasurer, Deputy Treasurer, and Chief Financial Officer are each covered under $10,000,000 public official bonds. The City also has a government crime policy covering (1) employee theft with a $1,000,000 limit and $20,000 deductible; (2) forgery or alteration with a $25,000 limit and $1,000 deductible; (3) theft of money and securities with a $50,000 limit and $2,500 deductible; (4) robbery or safe burglary with a $50,000 limit and $2,500 deductible; (5) money orders and counterfeit money with a $50,000 limit and $2,500 deductible; and (6) computer fraud and funds transfer fraud, each carrying $1,000,000 limits and $20,000 deductibles. The City purchases workers’ compensation insurance with statutory limits for all City employees. Further, the City is self-insured for unemployment. The Risk Management Fund (an internal service fund) has been established to pay these claims along with health insurance premiums and certain administrative expenses. See “APPENDIX A – SALT LAKE CITY CORPORATION FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED JUNE 30, 2025 – Notes to Financial Statements – Note 11 – Risk Management.” INVESTMENT POLICY City Policy. It is the policy of the City to invest public funds in accordance with the principles of sound treasury management and in compliance with State and local laws, regulations, and other policies governing the investment of public funds, specifically, according to the terms and conditions of the State Money Management Act, Title 51, Chapter 7 of the Utah Code (the “Money Management Act”)and Rules of the State Money Management Council as currently amended (the “Money Management Act”), and the City’s own written investment policy. The following investment objectives, in order of priority, are met when investing public funds: safety of principal, need for liquidity, and maximum yield on investments consistent with the first two objectives. The City may use investment advisers to conduct investment transactions on its behalf as permitted by the Money Management Act and local ordinance or policy. Investment advisers must be certified by the Director of the Utah State Division of Securities of the Department of Commerce (the “Director”). Broker/dealers and agents who desire to become certified dealers must be certified by the Director and meet the requirements of the Money Management Act. Only qualified depositories as certified by Utah’s Commissioner of Financial Institutions are eligible to receive and hold deposits of public funds. The State Money Management Council issues a quarterly list of certified investment advisers, certified dealers, and qualified depositories authorized by State statute to conduct transactions with public treasurers. Transactions involving authorized deposits or investments of public funds may be conducted only through issuers of securities authorized by Section 51-7-11(3) of the Utah Code, qualified depositories included in the current State list, and certified dealers included in the current State list. The City Treasurer must take delivery of all investments purchased, including those purchased through a certified investment adviser. This may be accomplished by the City Treasurer taking physical delivery of - 26 - the security or delivering the security to a bank or trust company designated by the City Treasurer for safekeeping. The City Treasurer may use a qualified depository bank for safekeeping securities or maintain an account with a money center bank for the purpose of settling investment transactions and safekeeping and collecting those investments. City policy provides that not more than 25% of total City funds or 25% of the qualified depository’s allotment, whichever is less, can be invested in any one qualified depository. Not more than 20% of total City funds may be invested in any one certified out-of-state depository institution. However, there is no limitation placed on the amount invested with the Utah Public Treasurer’s Investment Fund (“PTIF”) and other money market mutual funds, provided that the overall standards of investments achieve the City’s policy objectives. All funds pledged or otherwise dedicated to the payment of interest on and principal of bonds or notes issued by the City are invested in accordance with the terms and borrowing instruments applicable to such bonds or notes. City policy also provides that the remaining term to maturity of an investment may not exceed the period of availability of the funds invested. The investment of City funds cannot be of a speculative nature. The City’s entire portfolio is currently in compliance with all of the provisions of the Money Management Act. The Utah Public Treasurers’ Investment Fund. The PTIF is a local government investment fund, established in 1981, and managed by the State Treasurer. Generally, substantial portion of the City’s funds are on deposit in the PTIF (currently approximately $1.6 billion). All investments in the PTIF must comply with the Money Management Act and rules of the State Money Management Council. The PTIF invests primarily in money market securities. Securities in the PTIF include certificates of deposit, commercial paper, short-term corporate notes, obligations of the U.S. Treasury and securities of certain agencies of the federal government. By policy, the maximum weighted average adjusted life of the portfolio is not to exceed 90 days and the maximum final maturity of any security purchased by the PTIF is limited to five years. Safekeeping and audit controls for all investments owned by the PTIF must comply with the Money Management Act. All securities purchased are delivered versus payment to the custody of the State Treasurer or the State Treasurer’s safekeeping bank, assuring a perfected interest in the securities. Securities owned by the PTIF are completely segregated from securities owned by the State. The State has no claim on assets owned by the PTIF except for any investment of State moneys in the PTIF. Deposits are not insured or otherwise guaranteed by the State. Investment activity of the State Treasurer in the management of the PTIF is reviewed monthly by the State Money Management Council and is audited by the State Auditor. The information in this section concerning the current status of the PTIF has been obtained from sources the City believes to be reliable, but the City takes no responsibility for the accuracy thereof. - 27 - See “APPENDIX A – SALT LAKE CITY CORPORATION FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED JUNE 30, 2025 – Notes to the Financial Statements – Note 2 – Cash, Cash Equivalents and Investments” below. PROPERTY TAX MATTERS The Property Tax Act, Chapter 2, Title 59 of the Utah Code (the “Property Tax Act”), provides that all taxable property is required to be assessed and taxed at a uniform and equal rate on the basis of its “fair market value” as of January 1 of each year, unless otherwise provided by law. “Fair market value” is defined in the Property Tax Act as “the amount at which property would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or sell and both having reasonable knowledge of the relevant facts.” Pursuant to an exemption for residential property provided for under the Property Tax Act and Article XIII of the State Constitution, the “fair market value” of residential property is reduced by 45%. The residential exemption is limited to one acre of land per residential unit and to one primary residence per household, except that an owner of multiple residential properties may exempt his or her primary residence and each residential property that is the primary residence of a tenant. The Property Tax Act provides that the Utah State Tax Commission (the “State Tax Commission”) shall assess certain types of property (“centrally-assessed property”), including (a) properties that operate as a unit across county lines that must be apportioned among more than one county or state, (b) public utility (including railroad, but, effective January 1, 2023, excluding a telecommunications service provider) properties, (c) airline operating properties, (d) geothermal resources and (e) mines, mining claims and appurtenant machinery, facilities and improvements. All other taxable property (“locally-assessed property”) is required to be assessed by the county assessor of the county in which such locally-assessed property is located. Each county assessor must update property values annually based upon a systematic review of current market data by using a mass appraisal system and must also complete a detailed review of property characteristics for each parcel of property at least once every five years. The Property Tax Act requires that the State Tax Commission conduct an annual investigation in each county to determine whether all property subject to taxation is on the assessment rolls and whether the property is being assessed at its “fair market value.” The State Tax Commission and the county assessors utilize various valuation methods, as determined by statute, administrative regulation or accepted practice, to determine the “fair market value” of taxable property. Uniform Fees. An annual statewide uniform fee is levied on tangible personal property in lieu of the ad valorem tax. The uniform fee is based on the value of motor vehicles, watercraft, recreational vehicles, and all other tangible personal property required to be registered with the State. The current uniform fee is established at 1.5% of the fair market value of motor vehicles that weigh 14,001 pounds or more; watercraft; motorcycles, recreational vehicles and all other tangible personal property required to be registered with the State, excluding exempt property such as aircraft, commercial vehicles and property subject to a fixed age-based fee. Motor vehicles weighing 14,000 pounds or less are subject to an age-based fee that is due each time the vehicle is registered. The age-based fee is for passenger type vehicles and ranges from $7.75 to $150, - 28 - depending on the age of the vehicle. Recreation vehicles, motorcycles, watercraft 1 (except large watercraft), snowmobiles, certain small motor vehicles and motor homes required to be registered with the State are also subject to an aged-based fee that ranges from $4.00 to $350, depending on the age of the vehicle.2 The revenues collected from the various uniform fees are distributed by the county to the taxing entity in which the property is located in the same proportion in which revenue collected from ad valorem real property tax is distributed. Property Tax Valuation Agency Fund. The State Legislature requires each county to annually impose a multicounty assessing and collecting levy to fund a Property Tax Valuation Fund (the “PTVF”) and a Multicounty Appraisal Trust (the “Multicounty Trust”).3 Disbursements to counties from the PTVF are to be used to offset costs of assessing and collecting property taxes; improve the accurate valuation and uniform assessment levels of property and improve the efficiency of the property tax system and are based on various administrative rules. Funds deposited into the Multicounty Trust are to be used to provide funding for a statewide property tax system that is intended to promote, among other things, the accurate valuation of property, the establishment and maintenance of uniform assessment levels within and among counties, and the efficient administration of the property tax system, including the costs of assessment, collection and distribution of property taxes. A county may levy an additional tax to (a) promote the accurate valuation and uniform assessment levels of property, (b) promote the efficient administration of the property tax system, including the costs of assessment, collection and distribution of property taxes, (c) fund state mandated actions and (d) establish reappraisal programs. TAX LEVY AND COLLECTION The State Tax Commission must assess all centrally-assessed property by May 1 of each year. County assessors must assess all locally-assessed property before May 22 of each year. The State Tax Commission apportions the value of centrally-assessed property to the various taxing entities within each county and reports such values to county auditors before June 8. The governing body of each taxing entity must adopt a proposed tax rate or, if the tax rate is not more than the certified tax rate, a final tax rate, before June 22; provided if the governing body has not received the taxing entity’s certified tax rate at least seven days prior to June 22, the governing body of the taxing entity must, no later than 14 days after receiving the certified tax rate from the county auditor, adopt a proposed tax rate or, if the tax rate is not more than the certified tax rate, a final tax rate. County auditors must forward to the State Tax Commission a statement prepared by the legislative body of each taxing entity showing the amount and purpose of each levy. Upon determination by the State Tax Commission that the tax levies comply with applicable law and do 1 Beginning January 1, 2024, 50% of the revenue collected from certain watercraft shall be deposited into the Utah Boating Grant Account. 2 The fees for certain trailers, electric motor vehicles, off-highway vehicles and street-legal all-terrain vehicles may be paid for a 24-month period, in which case the fees are double those described herein. 3 Effective January 1, 2026 the multicounty assessing and collecting levy will only be allocated to the Multicounty Trust and the legislation regarding the PTVF has been repealed, effective July 1, 2030. - 29 - not exceed maximum permitted rates, the State Tax Commission notifies county auditors to implement the levies. If the State Tax Commission determines that a tax levy established by a taxing entity exceeds the maximum levy permitted by law, the State Tax Commission must lower the levy to the maximum levy permitted by law, notify the taxing entity that the rate has been lowered and notify the county auditor (of the county in which the taxing entity is located) to implement the rate established by the State Tax Commission. On or before July 22 of each year, the county auditors must mail to all owners of real estate shown on their assessment rolls notice of, among other things, the value of the property, itemized tax information for all taxing entities and the date their respective county boards of equalization will meet to hear complaints. Taxpayers owning property assessed by a county assessor may file an application within statutorily defined time limits based on the nature of the contest with the appropriate county board of equalization for the purpose of contesting the assessed valuation of their property. The county board of equalization must render a decision on each appeal in the time frame prescribed by the Property Tax Act. Under certain circumstances, the county board of equalization must hold a hearing regarding the application, at which the taxpayer has the burden of proving that the property sustained a decrease in fair market value. Decisions of the county board of equalization may be appealed to the State Tax Commission, which must decide all appeals relating to real property by March 1 of the following year. Owners of centrally-assessed property, or any county with a showing of reasonable cause, may, on or before the later of August 1 or a day within 90 days of the date the notice of assessment is mailed by the State Tax Commission, apply to the State Tax Commission for a hearing to contest the assessment of centrally-assessed property. The State Tax Commission must render a written decision within 120 days after the hearing is completed and all post-hearing briefs are submitted. The county auditor makes a record of all changes, corrections and orders, and delivers before November 1 the corrected assessment rolls to the county treasurers. On or before November 1, each county treasurer furnishes each taxpayer a notice containing, among other things, the kind and value of the property assessed to the taxpayer, the street address of the property, where applicable, the amount of the tax levied on the property and that the property may be subject to a detailed review in the next year. Without an extension by a county legislative body, taxes are due November 30, or if a Saturday, Sunday or holiday, the next business day. Each county treasurer is responsible for collecting all taxes levied on real property within that county. There are no prior claims to such taxes. As taxes are collected, each county treasurer must pay to the State and each taxing entity within the county its proportionate share of the taxes, on or before the tenth day of each month. Delinquent taxes are subject to a penalty of 2.5% (or 1% if paid on or before the January 31 immediately following the delinquency date) of the amount of the taxes or $10, whichever is greater. Unless the delinquent taxes and penalty are paid before January 31 of the following year, the amount of delinquent taxes and penalty bears interest at the federal funds rate target established by the Federal Open Market Committee plus 6% from the January 1 following the delinquency date until paid (provided that said interest may not be less than 7% or more than 10%) If delinquent taxes have not been paid by March 15 following the lapse of four years from the delinquency date, the affected county advertises and sells the property at a final tax sale held in May or June of the fifth year after assessment. - 30 - The process described above changes if a county or other taxing entity proposes a tax rate in excess of the certified tax rate (as described under “FINANCIAL INFORMATION REGARDING SALT LAKE CITY, UTAH — Public Hearing on Certain Tax Increases” below). If such an increase is proposed, the taxing entity must adopt a proposed tax rate before June 22. In addition, the county auditor must include certain information in the notices to be mailed by July 22, as described above, including information concerning the tax impact of the proposed increase on the property and the time and place of the public hearing described in “FINANCIAL INFORMATION REGARDING SALT LAKE CITY, UTAH — Public Hearing on Certain Tax Increases” below. In most cases, notice of the public hearing must also be advertised by publication and by posting on certain websites. After the public hearing is held, the taxing entity may adopt a resolution levying a tax in excess of the certified tax rate. The final tax notice is then mailed by November 1. PUBLIC HEARING ON CERTAIN TAX INCREASES Each taxing entity that proposes to levy a tax rate that exceeds the “certified tax rate” may do so, by resolution, only after holding a properly noticed public hearing. Generally, the certified tax rate is the rate necessary to generate the same property tax revenue that the taxing entity budgeted for the prior year, with certain exclusions. For purposes of calculating the certified tax rate, county auditors are to use the taxable value of property on the assessment rolls, exclusive of eligible new growth. With certain exceptions, the certified tax rate for the minimum school levy, debt service voted on by the public and certain state and county assessing and collecting levies are the actual levies imposed for such purposes and no hearing is required for these levies. AmoSng other requirements, on or before July 22 of the year in which such an increase is proposed, the county auditor must mail to all property owners a notice of the public hearing. In most cases, the taxing entity must also advertise the notice of the public hearing as required by statute. Such notices must state, among other things, the value of the property, the taxable value of the property, the deadline to make application to appeal the valuation or equalization of the property, and the tax impact of the proposed increase. SOURCES OF GENERAL FUND REVENUES Set forth below are brief descriptions of the various sources of revenues available to the City’s general fund. The percentage of total general fund revenues represented by each source is based on the City’s audited June 30, 2025 fiscal year period: Sales, use and excise taxes – Approximately ____% of general fund revenues are from sales, use and excise taxes. General property taxes – Approximately ____% of general fund revenues are from general property taxes. Licenses and Permits – Approximately _____% of general fund revenues are from licenses and permits. - 31 - Interfund service charges – Approximately ____% of general fund revenues are from interfund service charges. Franchise taxes – Approximately ____% of general fund revenues are from franchise taxes. Miscellaneous – Approximately ____% of general fund revenues are from miscellaneous revenues. Intergovernmental – Approximately ____% of general fund revenues are from other governmental entities. Charges for Services – Approximately ____% of general fund revenues are from charges for services. Parking meter – Approximately ____% of general fund revenues are from parking meters. Fines and forfeitures – Approximately ____% of general fund revenues are from fines and forfeitures. Parking tickets – Approximately ____% of general fund revenues are from parking tickets. Rental and other income – Approximately ____% of general fund revenues are from rental and other income. Interest income – Approximately ____%1 of general fund revenues are from interest income. FIVE-YEAR FINANCIAL SUMMARIES The summaries contained herein were extracted from the City’s financial statements for the fiscal years ended June 30, 2020 through June 30, 2025. The summaries are unaudited. See also “APPENDIX A – SALT LAKE CITY CORPORATION FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED JUNE 30, 2025.” 1 Net after a marked-to-market adjustment of the investments that offset interest earnings. - 32 - SALT LAKE CITY CORPORATION, UTAH STATEMENT OF NET POSITION — GOVERNMENTAL ACTIVITIES (FISCAL YEARS ENDED JUNE 30) Unaudited FISCAL YEAR ENDED JUNE 30 SSETS overdraft .................................................. 76,262,530 - - - - amortized ............................................ 275,128,243 107,065,665 238,951,338 - - outflows of resources…. $1,894,633,348 $1,808,920,216 $1,736,407,671 $1,639,593,266 $1,408,350,006 _________________________ (1) The changes in unrestricted and restricted cash and cash equivalents are due, for the most part, to the timing of the release of bond proceeds from restricted accounts until such proceeds are actually spent. (Source: Information is taken from the City’s audited financial statements. This summary itself has not been audited.) - 33 - SALT LAKE CITY CORPORATION, UTAH STATEMENT OF NET POSITION — GOVERNMENTAL ACTIVITIES (FISCAL YEARS ENDED JUNE 30) (continued) Unaudited 2025 2024 2023 2022 2021 IABILITIES ET OSITION _________________________ (Source: Information is taken from the City’s audited financial statements. This summary itself has not been audited.) - 34 - SALT LAKE CITY CORPORATION, UTAH BALANCE SHEET — GOVERNMENTAL FUNDS — GENERAL FUND (FISCAL YEARS ENDED JUNE 30) Unaudited Total Assets $404,518,126 $345,240,222 $361,587,350 $310,663,083 $249,008,418 LIABILITIES Current portion of long-term compensated Total Liabilities and Fund Balances $404,518,126 $345,240,222 $361,587,350 $310,663,083 $249,008,418 (Source: The City’s Annual Comprehensive Financial Report for the indicated years. The summary above has not been audited.) - 35 - SALT LAKE CITY CORPORATION, UTAH STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE — GENERAL FUND (FISCAL YEARS ENDED JUNE 30) Unaudited (Source: The City’s Annual Comprehensive Financial Report for the indicated years. This summary has not been audited.) - 36 - HISTORICAL CITY TAX RATES AX ATE URPOSE COMPARATIVE PROPERTY TAX RATES WITHIN SALT LAKE COUNTY AX ATE Salt Lake City 0.002755 0.0003012 0.003158 0.003424 ____________________ (Source: Property Tax Division, Utah State Tax Commission.) (The remainder of this page has been intentionally left blank.) - 37 - TAXABLE AND FAIR MARKET VALUE OF PROPERTY SALT LAKE CITY, UTAH Excluding Fee-In-Lieu/Age Based Valuation YEAR AXABLE VALUE HANGE OVER PRIOR YEAR AIR ARKET VALUE HANGE OVER PRIOR YEAR Including Fee-In-Lieu/Age Based Valuation YEAR AXABLE VALUE HANGE OVER PRIOR YEAR AIR ARKET VALUE CHANGE OVER PRIOR YEAR _________________________ Source: Property Tax Division, Utah State Tax Commission. See “FINANCIAL INFORMATION REGARDING SALT LAKE CITY, UTAH — Historical Summaries of Taxable Values of Property.” (The remainder of this page has been intentionally left blank.) - 38 - HISTORICAL SUMMARIES OF TAXABLE VALUES OF PROPERTY SALT LAKE CITY, UTAH HISTORICAL SUMMARIES OF TAXABLE VALUES OF PROPERTY TAX CALENDAR YEARS 2020 THROUGH 2024 TAXABLE ALUE % OF TAXABLE ALUE TAXABLE ALUE TAXABLE ALUE TAXABLE ALUE Set by State Tax Commission— Set by County Assessor—Locally Real property: Primary residential ..................... 21,757,316,642 38.0 19,985,359,626 19,296,323,875 15,096,889,577 13,605,944,285 Secondary residential ................. 337,886,740 0.6 310,602,750 324,325,220 253,010,810 233,713,080 Commercial and industrial ......... 27,230,951,050 47.6 24,149,057,180 19,788,465,340 16,263,210,490 15,289,711,240 Unimproved Non-FAA-Vacant .. 2,667,870 0.0 317,360 331,330 2,662,640 2,529,190 Agricultural ................................ 157,650 0.0 170,830 179,140 179,140 157,940 Total real property .................... 49,328,979,952 86.2 44,445,507,746 39,409,625,805 31,615,952,657 29,132,055,735 Total personal property ............. 5,344,931,488 9.3 4,697,368,548 3,652,856,862 3,446,042,005 3,212,675,482 Total taxable value (less fee in lieu/age based property) .. $56,932,846,281 99.5% $51,090,264,209 $45,473,564,309 $37,481,061,604 $34,767,046,397 _________________________ (1) Semiconductor Manufacturing Equipment. (2) See “FINANCIAL INFORMATION REGARDING SALT LAKE CITY, UTAH — Property Tax Matters.” (Source: Property Tax Division, Utah State Tax Commission.) (The remainder of this page has been intentionally left blank.) - 39 - TAX COLLECTION RECORD ISCAL YEAR OTAL AX LEVY FOR OLLECTED WITHIN THE FISCAL YEAR OF THE LEVY(1) OLLECTION IN SUBSEQUENT OTAL OLLECTIONS TO DATE NDED UNE ISCAL EAR MOUNT ERCENTAGE OF EVY EARS MOUNT ERCENTAGE OF EVY _________________________ * Amounts expressed in thousands. (1) Property taxes are assessed January 1 and due by November 30. Payments are not considered delinquent until after November 30. (Source: Salt Lake City Corporation Annual Comprehensive Financial Report for the year ended June 30, 2025.) SOME OF THE LARGEST TAXPAYERS IN THE CITY {TO BE UPDATED.} AXPAYER YPE OF USINESS TAXABLE ALUE OF THE ITY S 2021 TAXABLE ALUE LDS Church (Property Reserve, City $4,698,934,382 _________________________ (1) Taxable Value used in this table excludes all tax equivalent property associated with motor vehicles, watercraft, recreational vehicles, and all other tangible personal property required to be registered with the State. See “FINANCIAL INFORMATION REGARDING SALT LAKE CITY, UTAH — Taxable and Fair Market Value of Property.” (Source: Salt Lake City Corporation Annual Comprehensive Financial Report for the year ended June 30, 2025.) RECENT DEVELOPMENTS General Fund. Overall revenue for fiscal year 2025 is projected to be $16.3 million over budget. All tax categories were higher than expected by $3.2 million (personal property tax $1.4 million, sales and use tax $578,000, and franchise tax $1.1 million). Higher market interest rates are increasing interest income which is expected to exceed budget by $5.1 million. License revenue is over budget by $2.1 million due to an increase in new licenses and permit revenue is projected to be $2.5 million over budget as construction activity begins to improve. Fiscal year 2025 budget increased by approximately 7.1%, an increase of $31.8 million as compared to the previous year. Major changes to expenses include salary, pension and benefit - 40 - increases totaling $24.9 million. The budget included the addition of 34.5 FTEs at an anticipated cost of approximately $3.2 million. Fiscal year 2025 general fund expenses are expected to end close to budget. General Fund expense budget for fiscal year 2026 increased by $32.0 million, a 6.67% increase over fiscal year 2025. The City Council and Administration have an internal goal to keep the fund balance above 13% of total revenue for each fiscal year. For fiscal year 2023, fund balance was $179 million or 38.05% of total revenues for the year. For fiscal year 2024, fund balance was $149 million or 33.35% of total revenues for the year. In fiscal year 2025, the estimated fund balance is $93.8 million or 19.52% of total revenues for the year. The fiscal year 2026 adopted budget in the general fund is $512,471,524. INVESTMENT CONSIDERATIONS CLIMATE CHANGE Climate change caused by human activities may have adverse effects on the City. As greenhouse gas emissions continue to accumulate in the atmosphere as a result of economic activity, climate change is expected to intensify, increasing the frequency, severity and timing of extreme weather events such as coastal storm surges, drought, wildfires, floods and heat waves, and rising sea levels. The future fiscal impact of climate change on the City is difficult to predict, but it could be significant and it could have a material adverse effect on the City’s finances by requiring greater expenditures to counteract the effects of climate change or by changing the business and activities of City residents. The City considers the potential effects of climate change in its planning. CYBERSECURITY The risk of cyberattacks against enterprises, including those operated for a governmental purpose, has become more prevalent in recent years. At least one of the rating agencies factors the risk of such an attack into its ratings analysis, recognizing that a cyberattack could affect liquidity, public policy and constituent confidence, and ultimately credit quality. A cyberattack could cause the informational systems of the Department and the City to be compromised and could limit operational capacity, for short or extended lengths of time and could bring about the release of sensitive and private information. Additionally, other potential negative consequences include data loss or compromise, diversion of resources to prevent future incidences and reputational damage. The City believes it has made all reasonable efforts to ensure that any such attack is not successful and that the information systems of the City are secure. The Department closely watches for events that can increase cyberthreat activity through WaterISAC, intelligence briefings, and industry collaborations. For instance, the Russian-Ukrainian conflict has resulted in increased national and statewide cyberthreat monitoring. The Department and the City routinely check system security and conduct regular employee training to help protect against cyberattacks and have participated in two CISA cybersecurity assessments in the last year. The City recently updated its cybersecurity incident response plan. However, there can be no assurance that a cyberattack will not occur in a manner resulting in damage to the City’s information systems or - 41 - other challenges. The City has insurance coverage for cyber liability and has a company on retainer for incident response. In mid-December 2024, the City’s Department of Airports became aware of a limited network incident. Steps have been taken to address and investigate the incident. The City is not aware of any other recent incidents. [TAX TREATMENT FEDERAL INCOME TAXATION Interest on the Bonds is includible in gross income for federal income purposes. Ownership of the Bonds may result in other federal income tax consequences to certain taxpayers. Bondholders should consult their tax advisors with respect to the inclusion of interest on the Bonds in gross income for federal income tax purposes and any collateral tax consequences. The City may deposit moneys or securities in escrow in such amount and manner as to cause the Bonds to be deemed to be no longer outstanding for purposes of calculating outstanding debt under State law (a “defeasance”). A defeasance of the Bonds may be treated as an exchange of the Bonds by the holders thereof and may therefore result in gain or loss to the holders. Bond holders should consult their own tax advisors about the consequences if any of such a defeasance. The City is required to provide notice of defeasance of the Bonds as a material event under its Continuing Disclosure Agreement.] UTAH INCOME TAXATION In the opinion of Bond Counsel, under the existing laws of the State of Utah, as presently enacted and construed, interest on the Bonds is exempt from taxes imposed by the Utah Individual Income Tax Act. Bond Counsel expresses no opinion with respect to any other taxes imposed by the State or any political subdivision thereof. Ownership of the Bonds may result in other state and local tax consequences to certain taxpayers. Bond Counsel expresses no opinion regarding any such collateral consequences arising with respect to the Bonds. Prospective purchasers of the Bonds should consult their tax advisors regarding the applicability of any such state and local taxes. LITIGATION The City Attorney reports the following matters involving potential financial liability of the City: Lawsuits are periodically filed against the City and/or its employees, involving tort and civil rights matters. The City has a statutory obligation to defend and indemnify its officers and employees in relation to lawsuits arising from acts or failures to act of the officers or employees while in the scope and course of employment. - 42 - The City maintains a governmental immunity fund for claims against the City. In the event the fund is not sufficient to pay any outstanding judgment or judgments, the City has the ability under State law to levy a limited ad valorem tax to pay such judgments. This tax levy is separate and apart from the other taxing powers of the City. The City also has contract claims, condemnation proceedings and environmental matters, none of which is expected to materially adversely affect the City’s financial condition. CONTINUING DISCLOSURE The City will enter into a Continuing Disclosure Agreement (the “Agreement”), in substantially the form attached hereto as APPENDIX B, for the benefit of the beneficial owners of the Bonds to send certain information annually and to provide notice of certain events to the Municipal Securities Rulemaking Board pursuant to the requirements of Section (b)(5) of Rule 15c2-12 (the “Rule”) adopted by the Securities and Exchange Commission (the “Commission”) under the Securities Exchange Act of 1934. The City has entered into a number of Continuing Disclosure Undertakings pursuant to the Rule with respect to the bonds it has issued and has contracted with a number of dissemination agents to file annual information and notices of certain events on behalf of the City. With respect to certain bonds of the City, for its Fiscal Year ended June 30, 2024, the City initially filed certain required information with respect to certain taxes and the City’s largest property taxpayers by the required deadline in draft format as the City didn’t have the updated information at that time. The City subsequently filed the updated information, but the information was filed after the applicable deadlines. Additionally, with respect to certain water and sewer bonds, during the previous five years the City filed the audited financial statements of the City’s utilities system, but did not include the audited financial statements of the City. Corrective filings have been made and the City has taken steps to ensure that in the future the City’s audited financial statements will be filed for such water and sewer revenue bonds as required. At the time of the initial corrective filings the City determined that such filings were immaterial with respect to certain maturities of the water and sewer revenue bonds that had already matured, and corrective filing were not made for such maturities. In connection with a prior purchase of certain of the City’s general obligation bonds, the purchaser requested that corrective filings be made for such previously matured water and sewer revenue bonds. The City complied with such request despite having determined that such filings were not material. The City has an ongoing program of financing its fleet vehicles through capital leases. In continuation of that program, following the expiration of a master lease agreement, on August 2, 2021, the City entered into a new Municipal Master Lease Agreement (the “Master Lease”) to finance the City vehicles for the next five (5) years. The City recently determined that, although the Master Lease was a continuation of the City’s longstanding vehicle financing program, notice of the Master Lease should have been posted on EMMA as a material financial obligation for certain of its bonds. Subsequent to such determination, notice of the Master Lease was posted on EMMA. - 43 - The City has adopted continuing disclosure policies and procedures to help ensure compliance with its continuing disclosure undertakings. A failure by the City to comply with the Agreement will not constitute a default under the Resolution and beneficial owners of the Bonds are limited to the remedies described in the Agreement. A failure by the City to comply with the Agreement must be reported in accordance with the Rule and must be considered by any broker, dealer or municipal securities dealer before recommending the purchase or sale of the Bonds in the secondary market. Consequently, such a failure may adversely affect the transferability and liquidity of the Bonds and their market price. See “FORM OF CONTINUING DISCLOSURE AGREEMENT” attached hereto as APPENDIX B for the information to be provided, the events which will be noticed on an occurrence basis and the other terms of the Agreement, including termination, amendment and remedies. APPROVAL OF LEGAL PROCEEDINGS The authorization and issuance of the Bonds are subject to the approval of Chapman and Cutler LLP, Bond Counsel to the City. Certain legal matters will be passed upon for the City by the City Attorney and by Chapman and Cutler LLP, as the City’s Disclosure Counsel. The approving opinion of Bond Counsel will be delivered with the Bonds in substantially the form set forth in APPENDIX C of this Official Statement and will be made available upon request from the contact persons as indicated under “INTRODUCTION — Contact Persons.” The various legal opinions to be delivered concurrently with the delivery of the Bonds express the professional judgment of the attorneys rendering the opinions as to the legal issues explicitly addressed therein. By rendering a legal opinion, the opinion giver does not become an insurer or guarantor of that expression of professional judgment, of the transaction opined upon, or of the future performance of parties to the transaction. Nor does the rendering of an opinion guarantee the outcome of any legal dispute that may arise out of the transaction. BOND RATINGS As of the date of this Official Statement, the Bonds have been rated “___” and “___” by Fitch Ratings, Inc. and by Moody’s Investors Service, Inc., respectively. Any explanation of the significance of the ratings may only be obtained from the rating service furnishing the same. There is no assurance that the ratings given will be maintained for any period of time or that the ratings will not be revised downward or withdrawn entirely by the rating agency if, in its judgment, circumstances so warrant. Any such downward revision or withdrawal of such ratings may have an adverse effect on the market price of the Bonds. MUNICIPAL ADVISOR The City has entered into an agreement with Stifel, Nicolaus & Company, Incorporated (the “Municipal Advisor”), whereunder the Municipal Advisor provides financial recommendations and guidance to the City with respect to preparation for sale of the Bonds, timing - 44 - of the sale, tax-exempt bond market conditions, costs of issuance and other factors related to the sale of the Bonds. The Municipal Advisor has participated in the preparation of and provided information for certain portions of the Official Statement, but has not audited, authenticated or otherwise verified the information set forth in the Official Statement, or any other related information available to the City, with respect to accuracy and completeness of disclosure of such information, and the Municipal Advisor makes no guaranty, warranty or other representation respecting accuracy and completeness of the Official Statement or any other matter related to the Official Statement. INDEPENDENT AUDITORS The basic financial statements of Salt Lake City Corporation as of and for the Year Ended June 30, 2025 included in APPENDIX A to this Official Statement, have been audited by Eide Bailly LLP, independent auditors, as stated in their report appearing herein. MISCELLANEOUS All quotations contained herein from and summaries and explanations of the State Constitution, statutes, programs and laws of the State, court decisions and the Resolution, do not purport to be complete, and reference is made to the State Constitution, statutes, programs, laws, court decisions and the Resolution for full and complete statements of their respective provisions. Any statements in this Official Statement involving matters of opinion, whether or not expressly so stated, are intended as such and not as representation of fact. The appendices attached hereto are an integral part of this Official Statement and should be read in conjunction with the foregoing material. This Preliminary Official Statement is in form deemed final for purposes of paragraph (b)(1) of Rule 15c2-12 of the Securities and Exchange Commission. This Official Statement and its distribution and use have been duly authorized by the City. SALT LAKE CITY, UTAH A-1 APPENDIX A SALT LAKE CITY CORPORATION FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED JUNE 30, 2025 B-1 APPENDIX B FORM OF CONTINUING DISCLOSURE AGREEMENT C-1 APPENDIX C PROPOSED FORM OF OPINION OF BOND COUNSEL This page has intentionally been left blank Draft 1/13/26 Certificate of Determination v6.docx 10001523/RDB/mo CERTIFICATE OF DETERMINATION PURSUANT TO RESOLUTION AUTHORIZING THE ISSUANCE AND SALE OF FEDERALLY TAXABLE GENERAL OBLIGATION BONDS, SERIES 2026 DATED: [SALE DATE], 2026 1. Authority; Definitions. Pursuant to Resolution No. __ of 2026 Authorizing the Issuance and Sale of up to $51,000,000 Federally Taxable General Obligation Bonds, Series 2026, adopted by the City Council of Salt Lake City, Utah (the “Issuer”), on February 17, 2026 (the “Resolution”), the Issuer has authorized the issuance of its Federally Taxable General Obligation Bonds, Series 2026 (the “Bonds”). This certificate is executed pursuant to and in accordance with the delegation of authority contained in the Resolution, as authorized by law. All terms used herein and not otherwise defined herein shall have the meanings specified in the Resolution. 2. Acceptance of Bid. The bid of __________, (the “Purchaser”), conforms to the parameters, deadlines and procedures set forth in the notice of sale prepared in connection with the advertisement for sale of the Bonds and is the best bid received for the purchase of the Bonds, resulting in the sale of the Bonds at the lowest obtainable interest rate (a copy of the bid, together with a list of bids received for the Bonds, is attached hereto as Exhibit A). The bid of the Purchaser for the purchase of the Bonds, which is set out in full in Exhibit A hereto, is hereby accepted, it being hereby found, determined and declared that the Bonds bear interest at the lowest obtainable interest rate. The Bonds shall be issued by the Issuer for the purpose set forth in the Resolution. The sale of the Bonds to the Purchaser at the price of $__________ (representing the par amount of the Bonds, plus $__________ net original issue premium and less $__________ Purchaser’s discount) is hereby confirmed. The Bonds shall be delivered to the Purchaser and the proceeds of sale thereof applied as provided in the Resolution and as set forth below. 3. Aggregate Principal Amount and Maturity of Bonds. The Bonds shall be issued for the purpose specified in Section 202 of the Resolution in the aggregate principal amount of $__________. The Bonds shall mature on the dates and in the principal amounts, and shall bear interest payable semiannually on June 15 and December 15, commencing December 15, 2026 at the respective rates per annum, shown below: - 2 - Certificate of Determination JUNE 15 MOUNT MATURING NTEREST RATE 4. Use of Proceeds and Legally Available Funds of the Issuer. All of the proceeds of the sale of the Bonds shall be deposited in the Project Account established pursuant to the Resolution. 5. Authorized Denominations. The Bonds shall be issued in the Authorized Denomination of $5,000 or any whole multiple thereof. 6. Redemption Provisions. The Bonds maturing on or after June 15, __, shall be subject to redemption prior to maturity, at the election of the Issuer, on __________ 15, __ (the “First Redemption Date”), and on any date thereafter, in whole or in part, from such maturities or parts thereof as shall be selected by the Issuer, upon notice given as provided in the Resolution, at a redemption price equal to 100% of the principal amount of the Bonds to be redeemed plus accrued interest thereon to the date fixed for redemption. Bonds maturing on or prior to the First Redemption Date shall not be subject to optional redemption. 7. Book-Entry Bonds. The Bonds shall be initially issued as Book-Entry Bonds. (Signature page follows.) - 3 - Certificate of Determination IN WITNESS WHEREOF, I have hereunto set my hand as of the day and year first above written. By ____________________________________ Mayor By ____________________________________ Chair, Salt Lake City Council APPROVED AS TO FORM: By ____________________________________ Senior City Attorney Exhibit A Certificate of Determination EXHIBIT A Copies of Winning Bid and List of Bids Received for the Bonds This page has intentionally been left blank Draft 1/6/26 Dissemination Agency Agreement v4.docx 10001523/RDB/mo DISSEMINATION AGENCY AGREEMENT with respect to the CONTINUING DISCLOSURE UNDERTAKING OF SALT LAKE CITY, UTAH (as an “Obligated Person”) for the purpose of providing continuing disclosure information under Section (b)(5) of Rule 15c2-12 DATED: [CLOSING DATE], 2026 This Dissemination Agency Agreement (the “Agency Agreement”) is executed and delivered by Salt Lake City, Utah (the “Issuer”), and U.S. Bank Trust Company, National Association (the “Dissemination Agent”) in connection with the issuance of $[Principal Amount] [Federally Taxable] General Obligation Bonds, Series 2026 (the “Bonds”). The Bonds are being issued pursuant to Resolution No. __ of 2026, Authorizing the Issuance and Sale of the the Bonds, adopted by the City Council of the City on February 17, 2026, including as a part of such resolution that certain Certificate of Determination, dated [Sale Date], 2026 (collectively, the “Resolution”). Simultaneously with the execution and delivery of this Agency Agreement, the Issuer has executed and delivered its Continuing Disclosure Agreement dated as of the date hereof (as it may be amended from time to time, the “Undertaking”), a copy of which is attached hereto as Exhibit I. The Issuer and the Dissemination Agent covenant and agree as follows: SECTION 1. PURPOSE OF THIS AGREEMENT. This Agency Agreement is executed and delivered by the Issuer and the Dissemination Agent as of the date hereof in order to assist the Issuer in complying with the filing requirements contained in the Undertaking. SECTION 2. DEFINITIONS. The terms set forth below shall have the following meanings in this Agency Agreement, unless the context clearly otherwise requires. “Annual Financial Information” means the financial information and operating data described in Exhibit I to the Undertaking. “Annual Financial Information Disclosure” means the dissemination of disclosure concerning Annual Financial Information and the dissemination of the Audited Financial Statements as set forth in Section 4. “Audited Financial Statements” means the audited financial statements of the Issuer prepared pursuant to the standards and as described in Exhibit I to the Undertaking. “Authorized Issuer Official” means the Mayor, the Chief of Staff, the City Recorder, any Deputy City Recorder, the City Treasurer or the Deputy Treasurer of the City. - 2 - Dissemination Agency Agreement “Commission” means the Securities and Exchange Commission. “Dissemination Agent” means any person from time to time acting as the Dissemination Agent under this Agency Agreement, initially U.S. Bank Trust Company, National Association. “EMMA” means the MSRB through its Electronic Municipal Market Access system for municipal securities disclosure or through any other electronic format or system prescribed by the MSRB for purposes of the Rule. “Event” means the occurrence of any of the events set forth in Exhibit II to the Undertaking. “MSRB” means the Municipal Securities Rulemaking Board. “Reportable Event” means the occurrence of an Event with respect to the Bonds that should be disclosed as provided in the Undertaking and Section 5 hereof. “Reportable Events Disclosure” means dissemination of disclosure concerning a Reportable Event as set forth in Section 5. “Rule” means 15c2-12 adopted by the Commission under the Securities Exchange Act of 1934, as the same may be amended from time to time. “State” means the State of Utah. SECTION 3. CUSIP NUMBER/FINAL OFFICIAL STATEMENT. The CUSIP Numbers of the Bonds are as follows: UNE OF THE YEAR NUMBER UNE OF THE YEAR NUMBER The Final Official Statement relating to the Bonds is dated [Sale Date], 2026 (the “Final Official Statement”), and a true and complete copy of the Final Official Statement is attached hereto as Exhibit II. - 3 - Dissemination Agency Agreement SECTION 4. ANNUAL FINANCIAL INFORMATION DISCLOSURE. Subject to Section 12 of this Agency Agreement, the Issuer hereby covenants that it will deliver its Annual Financial Information and its Audited Financial Statements (in the form and by the dates set forth in Exhibit I to the Undertaking), as further described in Section 4 of the Undertaking, signed by an Authorized Issuer Official, to the Dissemination Agent for dissemination as set forth in Section 6. SECTION 5. EVENTS NOTIFICATION; REPORTABLE EVENTS DISCLOSURE. Subject to Section 12 of this Agency Agreement, the Issuer hereby covenants that it will provide a written description to the Dissemination Agent of Reportable Events Disclosure in a timely manner, signed by an Authorized Issuer Official. The Dissemination Agent shall have no duty or responsibility to review the determination of the Issuer that such Event is a Reportable Event or the written description of such Reportable Event. The Dissemination Agent will disseminate Reportable Events Disclosure as set forth in Section 7 herein. SECTION 6. MANNER AND TIME BY WHICH ANNUAL FINANCIAL INFORMATION DISCLOSURE IS TO BE DISSEMINATED BY THE DISSEMINATION AGENT; DUTY OF DISSEMINATION AGENT. Annual Financial Information will be provided by the Issuer to the Dissemination Agent at least fifteen (15) days prior to the date such information must be delivered to EMMA. Audited Financial Statements will be provided by the Issuer as soon as practicable after the Audited Financial Statements are available to the Issuer, to the Dissemination Agent. Thirty (30) days prior to the date the Issuer is required to provide information to the Dissemination Agent, the Dissemination Agent shall notify the Issuer that such information is due, and shall inform the Issuer in writing of any changes known to the Dissemination Agent in the form or media requirements of EMMA, which have occurred since the date of the last filing by the Issuer (or since the date hereof, as the case may be). MSRB Rule G-32 currently requires all EMMA filings to be in word-searchable PDF format. This requirement extends to all documents to be filed with EMMA, including financial statements and other externally prepared reports. The Dissemination Agent is hereby directed by the Issuer to cause the Annual Financial Information and the Audited Financial Statements to be delivered to EMMA in such manner so that such entity receives the information within two (2) business days after receipt of such information by the Dissemination Agent. The Dissemination Agent agrees to so disseminate such information in the form delivered to it by the Issuer. The Dissemination Agent is acting hereunder solely in an agency capacity, as more fully described in this Agency Agreement, and as such is merely a conduit for the Issuer, and shall have no liability or responsibility for the form, accuracy or completeness of any information furnished hereunder. Any information furnished by the Dissemination Agent hereunder may contain a legend to such effect. The Dissemination Agent shall promptly file a report with the Issuer stating the date the Annual Financial Information Disclosure was filed and where such information was filed. - 4 - Dissemination Agency Agreement In the event that the Dissemination Agent has not received the Annual Financial Information Disclosure by the dates on which such information is required to be filed with EMMA, the Issuer hereby instructs the Dissemination Agent to promptly notify EMMA of such failure, and the Dissemination Agent shall promptly deliver to the Issuer a copy of its notification to EMMA of such failure. SECTION 7. MANNER AND TIME BY WHICH REPORTABLE EVENTS DISCLOSURE IS TO BE MADE PUBLIC BY THE DISSEMINATION AGENT. The Dissemination Agent is hereby directed by the Issuer to cause the Reportable Events Disclosure to be delivered to EMMA in such manner so that such entity receives the information no later than ten (10) business days after the occurrence of such Reportable Event (as such date of occurrence is specified in the Reportable Events Disclosure) or, if received after such ten (10) business days, not more than one (1) business days after receipt of such information by the Dissemination Agent. The Dissemination Agent agrees to so disseminate such information in the form delivered to it by the Issuer. The Dissemination Agent is acting hereunder solely in an agency capacity, as more fully described in Section 14 of this Agency Agreement, and as such is merely a conduit for the Issuer, and shall have no liability or responsibility for the accuracy or completeness of any information furnished hereunder. Any information furnished by the Dissemination Agent hereunder may contain a legend to such effect. The Dissemination Agent shall promptly file a report with the Issuer stating the date the Reportable Events Disclosure was filed and where such information was filed. SECTION 8. TRANSMITTAL MEDIA. Subject to Section 10 hereof, all such Annual Financial Information Disclosure or any written description of a Reportable Event shall be furnished by the Issuer to the Dissemination Agent in word-searchable PDF format or in such other form or format as may be subsequently agreed upon by the Issuer and the Dissemination Agent in order to accommodate filing requirements of EMMA. Such filing shall be made to the following address, or to such other address (including any electronic mail address) as may be specified in writing to the Issuer by the Dissemination Agent from time to time: U.S. Bank Trust Company, National Association Attn: Laurel Bailey 170 South Main Street, Suite 200 Salt Lake City, Utah 84101 One business day prior to the date the Dissemination Agent is required to notify the Issuer that Annual Financial Information is due or upon receipt of a Reportable Events Disclosure, the Dissemination Agent shall determine, in the manner it deems appropriate, the manner and medium by which continuing disclosure information is to be transmitted and filed with EMMA. SECTION 9. CONSEQUENCES OF FAILURE OF THE ISSUER TO PROVIDE INFORMATION. In the event that the Issuer shall fail to provide Annual Financial Information Disclosure when the same is due to EMMA pursuant to the Undertaking, the Issuer has instructed the Dissemination Agent in Section 6 of this Agency Agreement to notify EMMA. - 5 - Dissemination Agency Agreement A default hereunder (a) shall not be deemed an Event of Default under the Resolution and (b) shall not, in and of itself, constitute a violation of any of the Issuer’s obligations set forth in the Undertaking. SECTION 10. AMENDMENTS; WAIVER. Notwithstanding any other provision of this Agency Agreement, the Issuer and the Dissemination Agent may amend this Agency Agreement, and any provision of this Agency Agreement may be waived, if such amendment or waiver is supported by a certified resolution or ordinance of the Issuer authorizing such amendment or waiver. In the event that the Commission or the MSRB or other regulatory authority shall approve or require Annual Financial Information Disclosure or Reportable Events Disclosure to be made to a central post office, governmental agency or similar entity other than EMMA or in lieu of EMMA, the Dissemination Agent shall, if required, make such dissemination to such central post office, governmental agency or similar entity in the form required by such entity without the necessity of amending this Agency Agreement. SECTION 11. TERMINATION OF THIS AGENCY AGREEMENT. Either party to this Agency Agreement may terminate this Agency Agreement by giving written notice to the other party at least 30 days prior to such termination. The Dissemination Agent shall be fully discharged at the time any such termination is effective. The Issuer is not required to appoint a successor Dissemination Agent. The absence of a Dissemination Agent shall not relieve the Issuer of its responsibilities pursuant to the Undertaking. SECTION 12. ADDITIONAL INFORMATION. Nothing in this Agency Agreement shall be deemed to prevent the Issuer from delivering any other information to the Dissemination Agent, using the means of dissemination set forth in this Agency Agreement or any other means of communication, or including any other information in any Annual Financial Information Disclosure or notice of occurrence of a Reportable Event, in addition to that which is required by this Agency Agreement. If the Issuer includes any information from any document or notice of occurrence of a Reportable Event in addition to that which is specifically required by this Agency Agreement, the Issuer shall have no obligation under this Agency Agreement to update such information or include it in any future disclosure or notice of occurrence of a Reportable Event. SECTION 13. INDEMNIFICATION. The Issuer hereby agrees to hold harmless and to indemnify the Dissemination Agent, its employees, officers, directors, agents and attorneys from and against any and all claims, damages, losses, liabilities, reasonable costs and expenses whatsoever (including attorneys’ fees and expenses) which may be incurred by the Dissemination Agent by reason of, or in connection with the performance of its duties, the exercise of any of its powers or rights, or the disclosure of information in accordance with this Agency Agreement, it being expressly understood that such indemnification does not extend to such claims, damages, losses, liabilities, costs or expenses resulting directly from the negligence or willful misconduct of the Dissemination Agent in the performance of its express duties under this Agency Agreement. - 6 - Dissemination Agency Agreement SECTION 14. RIGHTS, DUTIES AND LIMITATIONS WITH RESPECT TO THE DISSEMINATION AGENT. (a) The Dissemination Agent undertakes to perform such duties and only such duties as are specifically set forth in this Agency Agreement, and no implied covenants or obligations shall be read into this Agency Agreement against the Dissemination Agent. (b) In the absence of bad faith on its part, the Dissemination Agent may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon certificates or opinions furnished to the Dissemination Agent and conforming to the requirements of this Agency Agreement. (c) In the case of any Annual Financial Information Disclosure or any Reportable Events Disclosure, or any opinions which by any provision hereof are specifically required to be furnished to the Dissemination Agent, the Dissemination Agent shall be under a duty to examine the same to determine whether or not they conform to the requirements of this Agency Agreement, but shall be under no duty to verify independently or investigate the accuracy or completeness of any information contained therein or the correctness of any opinion furnished hereunder. (d) No provision of this Agency Agreement shall require the Dissemination Agent to expend or risk its own funds or otherwise incur any financial liability in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers. (e) The Dissemination Agent may rely and shall be protected in acting or refraining from acting upon any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, or other paper or document believed by it to be genuine and to have been signed or presented by the proper party or parties, including without limitation any written direction signed by an Authorized Issuer Official. (f) Any information, including the Annual Financial Information Disclosure or a description of a Reportable Event of the Issuer mentioned herein shall be sufficiently authenticated for purposes of dissemination hereunder if it is accompanied by a written instrument signed by the Authorized Issuer Official. (g) The Dissemination Agent may consult with counsel of its choice and the written advice of such counsel or any opinion of counsel shall be full and complete authorization and protection in respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon, it being understood for purposes of this provision that such counsel may, with the consent of the Issuer, be counsel to the Issuer. (h) The Dissemination Agent shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order or other paper or document. SECTION 15. COMPENSATION. The Issuer hereby agrees to compensate the Dissemination Agent for the services provided and the expenses incurred pursuant to this Agency Agreement, in an amount to be agreed upon from time to time hereunder and to reimburse the Dissemination - 7 - Dissemination Agency Agreement Agent upon its request for all reasonable expenses, disbursements and advances incurred by the Dissemination Agent hereunder (including any reasonable compensation and expenses of counsel), except any such expense, disbursement or advance that may be attributable to its negligence, willful misconduct, or bad faith. SECTION 16. BENEFICIARIES. This Agency Agreement shall inure solely to the benefit of the Issuer and the Dissemination Agent, and shall create no rights in any other person or entity. SECTION 17. RECORDKEEPING. The Dissemination Agent shall maintain records of all Annual Financial Information Disclosure and Reportable Events Disclosure including the content of such disclosure, the names of the entities where such disclosure was filed and the date of filing such disclosure, and any return receipts and copies of such information shall be available to the Issuer upon reasonable request and upon the payment of reasonable copying and delivery charges. Nothing herein shall require or permit delivery of any Annual Financial Information, Audited Financial Statements or Reportable Events Disclosure to any Bondholder, broker, prospective investor or any other third party by the Dissemination Agent. SECTION 18. GOVERNING LAW. This Agency Agreement shall be governed by the laws of the State of Utah. SECTION 19. COUNTERPARTS. This Agency Agreement may be executed in multiple counterparts, each of which shall be regarded for all purposes as an original; and such counterparts shall constitute but one and the same instrument. SECTION 20. REPRESENTATION REGARDING ETHICAL STANDARDS FOR ISSUER OFFICERS AND EMPLOYEES AND FORMER ISSUER OFFICERS AND EMPLOYEES. The Dissemination Agent represents that it has not: (a) provided an illegal gift or payoff to an Issuer officer or employee or former Issuer officer or employee, or his or her relative or business entity; (b) retained any person to solicit or secure this contract upon an agreement or understanding for a commission, percentage, or brokerage or contingent fee, other than bona fide employees or bona fide commercial selling agencies for the purpose of securing business; (c) knowingly breached any of the ethical standards set forth in the Issuer’s conflict of interest ordinance, Chapter 2.44, Salt Lake City Code; or (d) knowingly influenced, and hereby promises that it will not knowingly influence, an Issuer officer or employee or former Issuer officer or employee to breach any of the ethical standards set forth in the Issuer’s conflict of interest ordinance, Chapter 2.44, Salt Lake City Code. - 8 - Dissemination Agency Agreement DATED as of the day and year first above written. SALT LAKE CITY, UTAH By: ____________________________________ Mayor Address: 451 South State Street Salt Lake City, Utah 84111 COUNTERSIGN AND ATTEST: By_________________________________ City Recorder [SEAL] APPROVED AS TO FORM: By: ____________________________________ Senior City Attorney - 9 - Dissemination Agency Agreement U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION By: ____________________________________ Vice President Address: Attn: Laurel Bailey 170 South Main Street, Suite 200 Salt Lake City, Utah 84101 EXHIBIT-I Dissemination Agency Agreement EXHIBIT I [ATTACH FORM OF UNDERTAKING ] EXHIBIT-II Dissemination Agency Agreement EXHIBIT II [ATTACH FINAL OFFICIAL STATEMENT] This page has intentionally been left blank Item B3 CITY COUNCIL OF SALT LAKE CITY 451 SOUTH STATE STREET, ROOM 304 P.O. BOX 145476, SALT LAKE CITY, UTAH 84114-5476 WWW.SLC.GOV/COUNCIL TEL 801-535-7600 FAX 801-535-7651 PUBLIC HEARING MOTION SHEET CITY COUNCIL of SALT LAKE CITY TO:City Council Members FROM: Jennifer Bruno, Lehua Weaver, Austin Kimmel, Kira Luke, Allison Rowland, Sylvia Richards, Michael Sanders, and Kate Werrett DATE:February 3, 2026 RE: FY2026 BUDGET AMENDMENT No.4 MOTION 1 – CLOSE & PARTIAL ADOPTION I move that the Council close the public hearing and adopt the following items, A-6: Pedestrian Bridge Over the Surplus Canal at Glendale Golf Course. A-10: Backhoe for Public Services Streets Division & Tractor for Public Lands Parks Division A-14: Police Overtime Funding in FY2026 A-17: Council support to proceed with the appointment process for a sixth Justice Court Judge D-5: Streets GO Bonds Interest Reallocation for FY 2025-26 Council-Added Item: One-time $50,000 to match what the mayor’s office provides for legal support to our community from the General Fund. And defer action on the remaining items. MOTION 2 – CLOSE & DEFER ACTION I move that the Council close the public hearing and defer action to a future meeting. MOTION 3 – CONTINUE HEARING I move that the Council continue the public hearing to a future Council meeting. CITY COUNCIL OF SALT LAKE CITY 451 SOUTH STATE STREET, ROOM 304 P.O. BOX 145476, SALT LAKE CITY, UTAH 84114-5476 SLCCOUNCIL.COM TEL 801-535-7600 FAX 801-535-7651 COUNCIL STAFF REPORT CITY COUNCIL of SALT LAKE CITY TO:City Council Members FROM: Jennifer Bruno, Lehua Weaver, Austin Kimmel, Kira Luke, Allison Rowland, Sylvia Richards, Michael Sanders, and Kate Werrett DATE: February 3, 2026 RE: FY2026 Budget Amendment 4 PROJECT TIMELINE: Briefing: January 13, 2026 Set Date: January 13, 2026 2nd Briefing: January 20, 2026 3rd Briefing: February 3, 2026 Public Hearing: February 3, 2026 Potential Action: February 17, 2026 NEW INFORMATION At the January 20 briefing, the Council was also briefed on, but did not take action on the following items: A-1: Vehicle Replacement for Urban Services Division A-2: Trailer for Facilities Division A-3: Wildland Firefighting Expansion Funding A-4: Public Lands One-time Personal Services Budget Rescope for Equipment Purchases A-5: Park Land Acquisition A-6: Pedestrian Bridge Over the Surplus Canal at Glendale Golf Course A-9: Public Services Facilities Division: Old Library Immediate Facility Needs A-11: Old Library, Plaza 349 and Justice Courts Capital Improvements A-12: Trailer for Public Services Streets Division A-13: Funding for Gap in Homeless Resource Center Grant Funding for Salaries A-18: Parking Wayfinding Signage The Council took an affirmative straw poll on the following Council-added item: Council-Added Item: One-time $50,000 to match what the mayor’s office provides for legal support to our community from the General Fund. At the February 3 briefing, the Council may consider a straw poll on the following item: A-6: Pedestrian Bridge Over the Surplus Canal at Glendale Golf Course. Page | 2 At the February 3 briefing, the Council will be briefed on the following items: A-20: Funding for Fisher Mansion D-2: Engineering Planning and Design Housekeeping and Expansion D-3: Refuse Fund Carry Revenue Budget for Lease Agreement D-4: Community Events – Rescope D-6: California Avenue Safety Improvements Rescope D-7: CPTED Streetlighting– GF to CIP Transfer E-1: Trail Maintenance for Salt Lake City Portion of the Jordan River Trail The following information was provided for the January 20, 2026 council meeting. It is provided again for background purposes. NEW INFORMATION A-10: Backhoe for Public Services Streets Division & Tractor for Public Lands Parks Division A-17: Council support to proceed with the appointment process for a sixth Justice Court Judge D-5: Streets GO Bonds Interest Reallocation for FY 2025-26 A-14: Police Overtime Funding in FY2026 A-15: Police Retirements Cost A-16: Police Mobile Command Center D-1: Legislative Affairs Operations Funding ISSUE AT-A-GLANCE STRAW POLL REQUESTS Page | 2 Page | 3 UPDATED FUND BALANCE CHART The Administration provided the following fund balance and revenue chart reflecting the proposed changes included in Budget Amendment 4. If the proposed budget amendment items are approved, the fund balance is projected to be 16.91%, which is 3.91% - or $20,026,782- above the target fund balance of 13% of projected General Fund revenue. Page | 3 Page | 4 IMPACT FEE UNALLOCATED “AVAILABLE TO SPEND” BALANCES AND REFUND TRACKING The table below is current as of June 30, 2025. Impact fees must be encumbered or spent within six years of the City receiving them. Expired impact fees must be returned to the entity that paid them with interest over the intervening six years. Note: Encumbrances are an administrative function when impact fees are held under a contract The Administration provided the table below with updated revenue details. ADDITIONAL & BACKGROUND INFORMATION Section A: New Items The Administration is requesting $37,000 to replace an Urban Services compliance vehicle that was totaled in April 2025. In June 2025, the totaled vehicle was auctioned for $142.50, and those funds were placed in the Fleet Replacement Fund. To offset the loss of the vehicle, the division has been using Fleet loaner vehicles and a bicycle; however, a designated vehicle is essential to Urban Services’ operations. The division has proposed transferring $37,000 from its operational budget to Fleet for the replacement electric vehicle. Page | 5 A-2: Trailer for Facilities Division. (General Fund: One-time - $30,000) The Administration is requesting $30,000 to purchase a drop-down trailer to support Clean City Team work. The trailer will primarily be used to carry sidewalk scrubbing equipment. The Clean City Team has been borrowing a Facilities trailer, however, the use for both functions has grown such that it is impractical for the teams to split trailer usage. The formation of Clean City has generated efficiencies that have reduced the need for contract labor; supporting them with the requested trailer will continue to increase call response capacity. A-3: Wildland Firefighting Expansion Funding. (General Fund: One-time - $13,000 & General Fund: Ongoing - $75,000) The Fire Department is requesting $88,000 in General Fund funding to strengthen wildland fire preparedness and response capabilities. This funding request will include $75,000 ongoing in the FY2027 budget. This funding will support: Increased staffing during red flag days Expanded wildland fire training opportunities Acquisition of wildland personal protective equipment (PPE) and tools Replacement of aging wildland operation radios Below is a line-item budget summary of the request. Category FY2026 Request Ongoing Request Personnel $25,000 $40,000 PPE & Equipment $28,000 $25,000 Radios $35,000 $10,000 Total $88,000 $75,000 Increasing Wildfire Risk Wildfire risk is increasing both statewide and within the City, particularly in the wildland-urban interface (WUI). In 2025, approximately 160,000 acres burned statewide, nearly double the acreage burned in 2024. This growing risk underscores the importance of preparedness and rapid response. Goal 1 of the Fire Department’s Strategic Plan “provide unparalleled public safety service” calls for expanding WUI capabilities. Increased Staffing During Red Flag Days The requested funding will support increased staffing during periods of elevated fire risk. On red flag days, additional personnel will patrol the WUI and wildland areas to conduct prevention, detection, and initial suppression activities, to improve the City’s ability to respond quickly before fires escalate. Wildland PPE and Tools The department is requesting funding for wildland PPE and tools, including hoses, nozzles, and hand tools. Currently, this equipment is primarily housed at stations closest to the WUI. This proposal would make wildland PPE and tools available at all fire stations, for potential “all-hands-on-deck” wildfire events. Wildland Operation Radios The department is also proposing to replace its existing 10-year-old Bendix King radios, which are no longer manufactured. These radios are critical for wildland firefighting operations and are the standard radios used by state and regional partners. Replacing them will ensure reliable communication and interoperability during multi-agency wildfire incidents. The Council may wish to ask the Administration if this request could be delayed to the FY2027 annual budget. Page | 6 A-4: Public Lands One-time Personal Services Budget Rescope for Equipment Purchases. (General Fund: One-time - $163,900) One-time transfer from GF to Fleet, $163,900. To fund new capital equipment purchases, the Department of Public Lands (DPL) proposes to use $163,900 in FY2026 personnel funding from attrition and vacancy savings in the past six months. The equipment includes: One Kubota RTV Utility Vehicle ($50,300) to water newly planted trees in maintenance district 2, freeing up a one-ton dump truck to be used by the Restrooms and Garbage crew, which provides daily restroom cleaning, pulls trash cans to the curb and back into the parks, and picks up trash in parks. One Toro Dingo trencher ($47,500) to replace a unit that was stolen sometime in Fall 2024. The theft was reported to the Police Department as soon as it was discovered missing, but it has not been recovered. The City’s insurance does not cover the theft or damage of non-real estate assets worth less than $100,000; therefore, the Department must pay for the replacement. Aerator ($15,600) for use exclusively at the Regional Athletic Complex rather than borrowing the Parks Division’s existing unit. Caterpillar model 302 C3 small excavator ($50,500) to allow the new, highly experienced machine operator on the Trails Team to perform in-house trail construction and maintenance. This would save $4,000 per month on rentals and provide improved consistency and results. In addition, the excavator would be used for restoration projects, fire mitigation efforts, and vegetation management on other Department properties. Policy Question: The Council may wish to ask whether this excavator will be used on Foothills Trails construction, and if so, what the planned timeline is for this work. A-5: Park Land Acquisition. (Parks Impact Fees: One-time - $405,000) The Department of Public Lands (DPL) would use this amount to purchase 1.09 acres of open space land. Note: the December 23, 2025, transmittal erroneously lists CIP as the funding source, it is instead Parks Impact Fees. A-6: Pedestrian Bridge Over the Surplus Canal at Glendale Golf Course. (General Fund: One- time - $250,000) This amount would cover construction costs associated with SLC Engineering installing improvements under an existing pedestrian bridge, which spans the Surplus Levee, at the Glendale Golf Course. This structure was flagged by the United States Army Corps of Engineers several years ago as an unpermitted encroachment and the Corps recently issued approvals for City permitting and erosion control at this site. The improvements would treat existing erosion and prevent further erosion around the pedestrian bridge piles that support the structure, as well as protect the structural integrity of the Surplus Canal banks. Project bidding and construction is considered urgent, so the Administration prefers funding this in a budget amendment rather than waiting for the next Capital Asset Planning process. The Federal Emergency Management Agency (FEMA) updates their Flood Insurance Rate Maps based on levee conditions reported by the Corps, so levee deficiencies—like the ones that will be rectified by the proposed project—can lead to increased flood insurance rates for homes and businesses protected by the levee. A-9: Public Services Facilities Division: Old Library Immediate Facility Needs (General Fund: One-time - $195,000) The Administration is requesting $195,000 for several maintenance and security items associated with the Old Library, the former location of the Leonardo. $130,000 will be used to replace the defunct access control system and install security cameras. $65,000 will be used for: Grounds maintenance Security Repairs to doors, plumbing, electrical and mechanical systems Page | 7 Janitorial Services Moving services Funding will come from the General Fund. Grounds maintenance, security, and janitorial services will be incorporated into the FY2027 budget as ongoing expenses. A-10: Backhoe for Public Services Streets Division & Tractor for Public Lands Parks Division. (General Fund: One-time - $292,819) The Administration is requesting $292,819 to replace a Streets Division backhoe and a Parks Division tractor. Both pieces of equipment have suffered catastrophic failures, and the estimated repair costs significantly exceed their remaining value. These assets were originally scheduled for replacement in FY2027. Upon replacement, both assets will be auctioned, with estimated sale proceeds ranging from $9,700 to $17,900 per unit. The proceeds will be deposited into the Fleet Replacement Fund and used toward future vehicle replacements in accordance with the annual budget process. The FY2026 Fleet Replacement Fund has been fully allocated to other purchases and is not available to offset the cost of these replacements. Additionally, neither division has sufficient funding within their current budgets to absorb the replacement costs; therefore, a transfer from the General Fund is requested. The Administration is requesting a straw poll which, if affirmative, would authorize staff to proceed with ordering the replacement equipment in order to receive it in time to support late spring and summer projects. The Council may wish to consider straw polling this item. Sample language: "I propose a straw poll to allocate funds from the General Fund in the amount of $292,819, for the purchase of replacement equipment for the Streets and Parks Divisions." A-11: Old Library, Plaza 349 and Justice Courts Capital Improvements. (CIP: One-time - $5,498,741 & General Fund: One-time $889,800) To address personnel space constraints, the Administration is proposing capital improvements at the Old Library, and Plaza 349 to support the Justice Courts and other city staff. These improvements are intended to meet the space needs of the Justice Court and certain General Fund departments for several years. The requested funding will support the following projects: Old Library Improvements: Infrastructure upgrades, including elevators, HVAC, and related systems Conversion of existing galleries and classrooms into mixed-use space, including offices and meeting rooms Plaza 349 Improvements: Upgrades to aging building systems Relocation of a portion of Justice Court staff Capital construction costs will be funded using accrued interest from tax-exempt bonds. Because furniture, fixtures, and equipment (FF&E) are not an eligible use of this bond interest, $889,800 from the General Fund Balance is requested to cover FF&E expenses. A-12: Trailer for Public Services Streets Division. (General Fund: One-time - $58,000) The Administration is requesting $58,000 to replace a Streets Division trailer that has experienced a permanent failure. This trailer is used by the asphalt crew to transport equipment for overlay work and larger pothole repair Page | 8 projects. Although the trailer was originally scheduled for replacement in FY2027, heavy utilization and higher- than-anticipated wear and tear have necessitated an earlier replacement. A-13: Funding for Gap in Homeless Resource Center Grant Funding for Salaries. (General Fund: Ongoing - $292,833) , consisting of three squads and a supervising Lieutenant. What if future State funding continues to be reduced? A-14: Police Overtime Funding in FY2026. (General Fund: Onetime - $3,810,941) Maintain minimum shift coverage, particularly during high-demand summer months Support mitigation and proactive enforcement efforts Staff special events and large-scale community activities Budget assumptions and vacancy savings Overtime trends and workload In FY2025, the Department incurred $8,244,009 in overtime costs, representing approximately 115,593 overtime hours. For FY2026, overtime is estimated at approximately 109,600 hours, a reduction in total hours compared to FY2025. While fewer hours are predicted, overall overtime costs are projected to increase due to higher overtime pay rates in FY2026. Page | 9 The Department reported it is reviewing mitigation staffing logistics and evaluating potential reductions in shifts and shift durations as part of its effort to manage overtime usage. Organizational restructuring and long-term strategy The Department has undergone recent changes to its organizational structure, staffing levels, and deployment models and is actively working to rightsize operations and implement longer-term strategies to reduce reliance on overtime. The department’s stated goal regarding overtime is to reduce the number of overtime shifts while maintaining the ability to respond to emergencies and other operational demands. A-15: Police Retirements Cost. (General Fund: One-time - $977,286) Category Amount Total One-Time Request $977,286 Historical context and budget timing Current budget impacts Anticipated retirements and funding strategy Longer-term structural considerations Page | 10 to consider either the creation of a dedicated departmental budget line for retirement and severance payouts or an increase to the City’s centralized non-departmental reserve. A-16: Police Mobile Command Center. (General Fund – one-time - $1,000,000) Operational Need Natural disasters (earthquakes, wildfires, floods, severe weather) Mass casualty events Large public gatherings and/or civil disturbances Planned events with worldwide participation Infrastructure failures and emerging cybersecurity-related incidents Enhanced on-scene coordination and faster decision-making Improved situational awareness during critical incidents A secure, centralized location for command-and-control operations Improved interagency coordination during multi-jurisdictional responses Increased public confidence in emergency preparedness during major events Additional Context and Notes Page | 11 The Department is in the process of applying for grants which if awarded may be able to reimburse some of the cost to the General Fund. A-17: Justice Court, City Prosecutor's Office and Legal Defenders Association (LDA) Staffing Increases. (General Fund: Ongoing - $189,749 for FY2026 & IMS Fund: One-time - $9,000) Fiscal Impact Summary FY2026 Budget Amendment $189,749 ongoing General Fund (personnel and operations) $9,000 one-time IMS Fund (computers) FY2027 Ongoing Impact $1,554,826 General Fund for fully loaded annual costs Includes staffing across all three offices and a sixth Justice Court judge Positions Included in the Proposal Justice Court Justice Court Judge (Appointment process approval only; funding deferred until FY2027) Clerk of Court Judicial Assistant (2) City Prosecutor’s Office Associate Prosecutor (3) Paralegal (1) Legal Defenders Association Attorney (2) Case Manager (1) Straw Poll for sixth Justice Court Judge The Council may wish to consider straw polling this item. "I propose a straw poll to indicate Council support for the Administration to proceed with the appointment process for a sixth Justice Court Judge.” Justice Court Staffing and Operations Clerk of Court (new supervisory position) o $50,891 ongoing (4 months) Page | 12 o $3,000 one-time (computer) o Fully loaded annual cost: $152,672 o For more information on this position, see Attachment 2 of this staff report Two Judicial Assistants (Level 2) o $46,294 ongoing (3 months) o $6,000 one-time (computers) o Fully loaded annual cost: $185,177 total o These positions would directly support the sixth judge once appointed. Operating Costs o $6,529 ongoing (3 months) o Primarily for interpreter services and minor operational expenses If all Justice Court positions (including the sixth judge) are approved, the FY2027 annual budget need would be $630,411, and total staffing would increase to 48 FTEs (approximately a 9% increase). City Prosecutor’s Office Staffing The City Prosecutor’s Office is requesting $43,920 of General Fund ongoing funding to add four FTEs to reduce attorney caseloads and improve case processing. Additions include: Three Associate Prosecutors o $33,699 ongoing (1 month) o Fully loaded annual cost: $404,383 total One Paralegal o $10,221 ongoing (1 month) o Fully loaded annual cost: $122,657 If approved, the FY2027 annual budget impact would be $527,041, increasing office staffing to 36 FTEs (a 13% increase). Legal Defenders Association The Administration is proposing $33,115 of General Fund Funding to fund to increase the City’s contract with the LDA, which provides legal defense services at the Justice Court but whose employees are not City staff. The contract increases will include: Two Attorneys o $25,467 ongoing (1 month) o Fully loaded annual cost: $305,607 total One Case Manager o $7,647 ongoing (1 month) o Fully loaded annual cost: $91,767 o Would support the Familiar Faces Court, diversion programs, and Project Rio. If approved, the FY2027 annual contract amount would increase to $2,191,184 (a 22% increase), requiring $397,374 annually for the added positions. A-18: Parking Wayfinding Signage. (General Fund: One-time, $584,495) The Administration proposes to repair or replace a total of 54 way-finding signs that were once located downtown. Of these, only 17 remain in service. Because the City does not have the equipment needed to produce these large signs, the Administration proposes the Council consider two potential options for repair or refurbishment: 1. Using a vinyl overlay to repair the 17 existing signs, at $3,100 each, totaling $52,700; or 2. Refurbish the 17 signs, at $4,900 each, totaling $83,300. This method is considered more attractive. The Administration also notes that some of the foundations of the 17 existing signs also may need refurbishment, at $1,700 each, which would cost a maximum of $28,900. Page | 13 The remainder of the total $584,495 requested for this item would then be used to pay for new signs to replace the 37 signs that no longer exist, at $12,400 each. Policy Questions: If the Council agrees to fund this item, which of the two options listed above is preferred? The Council may wish to ask whether all of the original 54 signs are needed, given the ubiquitousness of electronic way-finding methods used today. A-20: Funding for Fisher Mansion. (CIP: One-time - $500,000) Section B: Grants for Existing Staff Resources None Section C: Grants for New Staff Resources Section D: Housekeeping D-1: Legislative Affairs Operations Funding. (General Fund: Ongoing - $80,000) Access and parking at the State Capitol Travel associated with legislative coordination and advocacy Professional development and training Support for legislative and intergovernmental events D-2: Engineering Planning and Design Housekeeping and Expansion. (General Fund: Ongoing - $350,000) D-3: Refuse Fund Carry Revenue Budget for Lease Agreement. (Refuse: One-Time - $8,918,482) Page | 14 D-4: Community Events - Rescope. (General Fund: One-time - $400,000) The Administration is requesting a rescope of the $400,000 FY2026 Open Streets funding. Council Members will recall this funding is in the City’s Non-Departmental budget and was shifted to ongoing funding in FY2026. The Administration states the funding would be used for the following community events: $100,000 for the DTA Blocks program; $200,000 for a watch party; and $100,000 for America 250 events, which celebrate the 250th anniversary of the United States of America’s founding. Any unused funds will drop to fund balance. According to the Administrative Transmittal, money is being raised to support these events. Council staff has inquired about the Administration’s plans for future Open Streets events and how much it hopes to raise through fundraising. Answers have not been provided at the time this report was published, and staff will follow up with more information as it becomes available. In Budget Amendment 2 of FY2026, over $6 million in interest from unspent proceeds of multiple bonds, including the 2018 Street Reconstruction General Obligation Bonds (2018 GO Bonds), was accounted for and added to the CIP budget. For General Obligation bonds, the interest revenue may only be spent on the project types the voters approved – in this case, street reconstruction. Accordingly, in the present budget amendment, the Administration is proposing to spend the $1,735,515.83 interest from the 2018 GO bonds on street reconstruction projects, including a long-planned segment on 1700 East from 1700 to 2100 South. According to the Administration, "When the City borrows at a low tax-exempt interest rate and does not spend the bond proceeds within three years, any interest earned at a rate higher than the bond’s issuance rate is considered 'excess' and must be repaid to the U.S. Treasury to preserve the bond’s tax-exempt status." Because of this time sensitivity, the Administration has requested a straw poll for this item. Projects using the 2018 GO bonds are chosen according to the values reflected in Engineering's 2022 Six-Year Plan, which prioritizes streets with the worst pavement condition (the "worst-first" approach) for reconstruction. The proposed segment of 1700 East is currently shown in "poor" condition on the City's pavement condition map. The administrative description notes that the project will be coordinated with other agencies, like Public Utilities, to upgrade infrastructure and minimize disruptions in the near future. Note: the budget request anticipates additional interest accruing in FY2026 from the same bonds, which could generate approximately $560,000, to be accounted for in a future budget amendment. If funding permits, the Administration proposes adding 2100 to 2700 South to the reconstruction on 1700 East, which was in the original project plan. The Council may wish to consider straw polling this item. Sample language: "I propose a straw poll to allocate the interest from FY2025 BA#2 for Streets GO bonds in the amount of $1,735,515.83, for rebuilds of city streets as determined by the Engineering Division's Six Year Pavement Plan and the Roadway Selection Committee." The Transportation Division proposes to rescope this funding, which was initially a constituent request funded by the Council in Fall 2024. The rescope would use existing funds to provide additional improvements and expand the project area to include two nearby schools. Potential improvements include landscaping, lighting, traffic calming, pedestrian safety improvements and/or school crosswalks. Page | 14 Page | 15 D-7: CPTED Streetlighting– GF to CIP Transfer. (CIP: One-time - $300,000) As part of the FY2026 budget, the Mayor’s Recommended Budget included a proposed $300,000 transfer to the Capital Improvement Program (CIP) within the Non-Departmental section to fund CPTED lighting along the Jordan River Trail. This transfer was not reflected in the Key Changes document or the CIP Funding Log. To allow the Administration to proceed with the project, the City Council approved the $300,000 CPTED funding request at its July 8, 2025 meeting and agreed to update the Key Changes document through a future budget amendment. This item recognizes the City's funding availability grant award in the amount of $57,600 for the purpose of removing dead and dying trees and other woody vegetation to improve navigability, safety and beautification of the Jordan River between 1700 South and 900 South. The Public Hearing for this grant was held November 21, 2025. None None None New Ongoing Costs to the General Fund Clerk of Court Job Description ACFR – Annual Comprehensive Financial Report BEMS – Bureau of Emergency Service CIP – Capital Improvement Program FTE – Full-time Employee / Equivalent FY – Fiscal Year GF – General Fund IMS – Information Management Services MCC – Mobile Command Center Page | 15 Page | 16 Attachment 1: New Ongoing Costs to the General Fund Council staff has provided the following list of potential new ongoing costs to the General Fund. Many of these are new FTE’s approved during this fiscal year’s budget amendments, noting that each new FTE increases the City’s annual budget costs if positions are added to the staffing document. Note that some items in the table below are partially or fully funded by grants. If a grant continues to be awarded to the City in future years, then there may not be a cost to the General Fund but grant funding is not guaranteed year-over-year. BAM#2 D-3 IMS Fund Budget Carry Forward $159,414 Ongoing -0- CCAC recommended funding for multiple departments to address compensation for positions lagging behind market rate. Changes & funding weren’t included in annual budget. BAM#2 D-4 Language Access Transfer from Mayor’s Office $50,000 Ongoing -0- Contract language access services funding was inadvertently left out of IMS budget when it was transferred from Mayor’s to IMS during the annual budget. BAM#3 None. BAM#4 A-3: Wildland Firefighting Expansion Funding $88,000 One-Time, $75,000 Ongoing -0- Reflects additional resources needed for red flag days. A-13: Funding for Gap in Homeless Resource Center Grant Funding for Salaries $292,833 Ongoing -0- The State HRC grant funding was reduced by $292,833. Funding to maintain the HRC functionality levels matches the reduction. A-17: Justice Court, City Prosecutor's Office and Legal Defenders Association (LDA) Staffing Increases $1,554,826 Ongoing 8 Annualized, the additional FY2027 staffing costs are $1,554,826. NOTE: Council staff is working with the Administration on clarifications. Page | 16 Page | 17 Attachment 2: Clerk of Court Job Description Page | 18 CITY COUNCIL OF SALT LAKE CITY 451 SOUTH STATE STREET, ROOM 304 P.O. BOX 145476, SALT LAKE CITY, UTAH 84114-5476 SLCCOUNCIL.COM TEL 801-535-7600 FAX 801-535-7651 Straw Poll Request CITY COUNCIL of SALT LAKE CITY TO:City Council Members FROM: Jennifer Bruno, Lehua Weaver, Austin Kimmel, Kira Luke, Allison Rowland, Sylvia Richards, Michael Sanders, and Kate Werrett DATE:February 3, 2026 RE: Budget Amendment #4 Straw Poll: A-6: Pedestrian Bridge Over the Surplus Canal at Glendale Golf Course STRAW POLL REQUESTS The Administration has requested a February 3 straw poll for the following item: 1. A-6: Pedestrian Bridge Over the Surplus Canal at Glendale Golf Course Sample language for the straw poll: 1. A-6: Pedestrian Bridge Over the Surplus Canal at Glendale Golf Course "I propose a straw poll to immediately allocate funds from the General Fund in the amount of $250,000 for construction costs associated with the Glendale Golf Course Surplus Levee Canal Pedestrian Bridge.” SALT LAKE CITY TRANSMITTAL To: Salt Lake City Council Chair Submission Date: 01/08/2026 Date Sent to Council: 01/08/2026 From: Department * Finance Employee Name: Hillier, Randy E-mail Randy.Hillier@slc.gov Department Director Signature Director Signed Date 01/08/2026 Chief Administrator Officer's Signature Chief Administrator Officer's Signed Date 01/08/2026 Subject: FY26 Budget Amendment #4 Retransmittal New transmittal or Revision New transmittal Revision Revision Updates: This is a retransmittal of Budget Amendment #4. There were changes it items A-17 and A-18, item A-19 was withdrawn and item A-20 was added. This transmittal also includes an updated version of the Impact Fee report and Fund Balance. Additional Staff Contact: Greg Cleary, Mary Beth Thompson Presenters/Staff Table Greg Cleary: greg.cleary@slc.gov and Mary Beth Thompson: marybeth.thompson@slc.gov Document Type Ordinance Recommendation: The Administration recommends that subsequent to a public hearing, the City Council adopt the following amendments to the FY 2026 adopted budget Background/Discussion The Administration is requesting a budget amendment totaling $8,650,923 in expenses in the general fund. The amendment proposes changes in seven (7) funds, with a total revenue increase of $16,614,942 and a corresponding expenditure increase of $16,847,383. The proposal includes the addition of eight (8) general fund-funded positions. A summary spreadsheet outlining proposed budget changes is attached. The Administration requests this document be modiﬁed based on the decisions of the Council. Public Hearing Is there a City or State statutory requirement to hold a public hearing for this item?* Yes No The City Council reserves the option to hold and notice for a public hearing pursuant to their practices for public engagement. Does the City have a general practice to hold a public hearing for this item?* Yes No Provide your perspective on the value of recommending a public hearing NA Public Process Public Hearing This page has intentionally been left blank DEPARTMENT OF FINANCE POLICY AND BUDGET DIVISION 451 SOUTH STATE STREET PO BOX 145467, SALT LAKE CITY, UTAH 84114-5455 ERIN MENDENHALL Mayor MARY BETH THOMPSON Chief Financial Officer CITY COUNCIL TRANSMITTAL ___________________________________ Date Received: _______________ Jill Love, Chief Administrative Officer Date sent to Council: __________ ______________________________________________________________________________ TO: Salt Lake City Council DATE: January 8, 2025 Chris Wharton, Chair FROM: Mary Beth Thompson, Chief Financial Officer SUBJECT: FY26 Budget Amendment #4 - Retransmittal SPONSOR: NA STAFF CONTACT: Mary Beth Thompson, Greg Cleary DOCUMENT TYPE: Budget Amendment Ordinance RECOMMENDATION: The Administration recommends that subsequent to a public hearing, the City Council adopt the following amendments to the Fiscal Year 2026 adopted budget. BUDGET IMPACT: REVENUE EXPENSE GENERAL FUND $0.00 $8,650,923.00 FLEET FUND 1,581,719.00 1,581,719.00 CIP FUND 5,798,741.00 6,298,741.00 REFUSE FUND 8,918,482.00 0.00 GOLF FUND 250,000.00 250,000.00 IMS FUND 9,000.00 9,000.00 MISC GRANTS FUND 57,000.00 57,000.00 TOTAL $16,614,942.00 $16,847,383.00 BACKGROUND/DISCUSSION: Revenue for FY 2026 Budget Adjustments The chart below presents General Fund Projected Revenues for FY 2026. Based on revenue data across the first part of the fiscal year, it is projected that revenues will be realized at approximately $368,733 beyond the FY 2026 Adopted Budget. Revenue FY26 Annual Budget FY26 Amended Budget Projection Amended Variance Favorable/(Unfavorable) Property Taxes 148,580,334 148,580,334 148,580,334 - Sales, Use & Excise Taxes 126,026,000 126,026,000 126,000,000 (26,000) Franchise Taxes 17,220,000 17,220,000 17,339,305 119,305 Total Taxes 291,826,334 291,826,334 291,919,639 93,305 Charges For Services 6,821,820 6,821,820 5,056,754 (1,765,066) Fines & Forfeitures 3,085,827 3,085,827 3,074,937 (10,890) Interest Income 9,000,000 9,000,000 9,000,000 - Interfund Service Charges 34,569,169 34,569,169 34,574,395 5,226 Intergovernmental Revenue 6,205,000 6,205,000 6,073,983 (131,017) Licenses 21,847,694 21,847,694 22,024,495 176,801 Miscellaneous Revenue 3,838,663 3,838,663 3,808,672 (29,991) Parking Meter Revenue 3,273,255 3,273,255 3,956,050 682,795 Parking Tickets 2,200,000 2,200,000 2,200,000 - Permits 18,981,859 18,981,859 20,235,322 1,253,463 Property Sale Proceeds - - 24,741 24,741 Gain on Property Dispositions - - 272 272 Rental & Other Income 1,201,460 1,201,460 1,270,554 69,094 Operating Transfers In 24,780,192 24,780,192 24,780,192 - Total W/O Special Tax 135,804,939 135,804,939 136,080,367 275,428 Sales Tax Addition 1/2%58,000,000 58,000,000 58,000,000 - Total General Fund 485,631,273 485,631,273 486,000,006 368,733 The table below presents updated Fund Balance numbers and percentages, based on the proposed changes included in Budget Amendment #4. With the complete adoption of Budget Amendment #4, the available fund balance will remain at 16.91 percent of the FY 2026 Adopted Budget. For context, at budget adoption fund balance was at 12.91 percent. FOF GF Only TOTAL FOF GF Only TOTAL Beginning Fund Balance 27,841,978 146,448,554 174,290,532 22,746,360 120,121,319 142,867,679 Prior Year Encumbrances (3,547,119) (18,657,815) (22,204,934) - - (18,919,920) Estimated Beginning Fund Balance 24,294,859$ 127,790,739$ 152,085,598$ 22,746,360$ 120,121,319$ 123,947,759$ Beginning Fund Balance Percent 39.57%30.50%31.66%38.72%26.47%24.19% Year End ACFR Adjustments Revenue Changes Expense Changes (Prepaids, Receivable, Etc.) (3,188,435) (3,188,435) 15,024 15,024 Fund Balance w/ ACFR Changes 24,294,859 124,602,304 148,897,163 22,746,360 120,136,343 123,962,783 Final Fund Balance Percent 39.57%29.74%30.99%38.72%26.48%24.19% Budgeted Change in Fund Balance (4,162,906) (36,664,442) (40,827,348) - (27,392,780) (27,392,780) Budget Amendment Use of Fund Balance BA#1 Revenue Adjustment 469,408 469,408 BA#1 Expense Adjustment (2,468,933) (2,468,933) (358,000) (358,000) BA#2 Revenue Adjustment 102,000 102,000 BA#2 Expense Adjustment (3,407,524) (3,407,524) (913,000) (913,000) BA#3 Revenue Adjustment 3,904,861 3,904,861 BA#3 Expense Adjustment (3,959,861) (3,959,861) - BA#4 Revenue Adjustment - - BA#4 Expense Adjustment - - (8,650,923) (8,650,923) BA#5 Revenue Adjustment 1,013,067 1,013,067 BA#5 Expense Adjustment (5,200,000) (4,736,688) (9,936,688) BA#6 Revenue Adjustment - BA#6 Expense Adjustment Change in Revenue Change in Expense Fund Balance Budgeted Increase Adjusted Fund Balance 22,746,360 120,121,319 142,867,679 22,746,360 82,821,640 86,648,080 Adjusted Fund Balance Percent 37.05%28.67%29.74%38.72%18.25%16.91% Projected Revenue 61,397,384 419,006,975 480,404,359 58,749,999 453,721,525 512,471,524 Salt Lake City General Fund TOTAL Fund Balance Projections FY2026 BudgetFY2025 Budget The Administration is requesting a budget amendment totaling $8,650,923 in expenses in the general fund. The amendment proposes changes in seven (7) funds, with a total revenue increase of $16,614,942 and a corresponding expenditure increase of $16,847,383. The proposal includes the addition of eight (8) general fund-funded positions. A summary spreadsheet outlining proposed budget changes is attached. The Administration requests this document be modified based on the decisions of the Council. The budget amendment is separated in eight different categories: A. New Budget Items B. Grants for Existing Staff Resources C. Grants for New Staff Resources D. Housekeeping Items E. Grants Requiring No New Staff Resources F. Donations G. Council Consent Agenda Grant Awards I. Council Added Items PUBLIC PROCESS: Public Hearing This page has intentionally been left blank SALT LAKE CITY ORDINANCE No. _____ of 2026 (Fourth amendment to the Final Budget of Salt Lake City, including the employment staffing document, for Fiscal Year 2025-2026) An Ordinance Amending Salt Lake City Ordinance No. 32 of 2025, which adopted the Final Budget of Salt Lake City, Utah, for the Fiscal Year Beginning July 1, 2025, and Ending June 30, 2026. In June of 2025, the Salt Lake City Council adopted the final budget of Salt Lake City, Utah, including the employment staffing document, effective for the fiscal year beginning July 1, 2025, and ending June 30, 2026, pursuant to the requirements of Utah Code section 10-6-118. The City’s Budget Director, acting as the City’s Budget Officer, prepared and filed with the City Recorder proposed amendments to said duly adopted budget, including the amendments to the employment staffing document necessary to effectuate the staffing changes specifically stated herein, copies of which are attached hereto, for consideration by the City Council and inspection by the public. All conditions precedent to amend said budget, including the employment staffing document as provided above, have been accomplished. Be it ordained by the City Council of Salt Lake City, Utah: SECTION 1. Purpose. The purpose of this Ordinance is to amend the final budget of Salt Lake City, including the employment staffing document, as approved, ratified and finalized by Salt Lake City Ordinance No. 32 of 2025. SECTION 2. Adoption of Amendments. The budget amendments, including amendments to the employment staffing document necessary to effectuate the staffing changes specifically stated herein, attached hereto and made a part of this Ordinance shall be, and the same hereby are adopted and incorporated into the budget of Salt Lake City, Utah, including the amendments to the employment staffing document described above, for the fiscal year beginning July 1, 2025, and ending June 30, 2026, in accordance with the requirements of Section 10-6-128 of the Utah Code. SECTION 3. Filing of copies of the Budget Amendments. The said Budget Officer is authorized and directed to certify and file a copy of said budget amendments, including amendments to the employment staffing document, in the office of said Budget Officer and in the office of the City Recorder which amendments shall be available for public inspection. SECTION 4. Effective Date. This Ordinance shall take effect upon adoption. Passed by the City Council of Salt Lake City, Utah, this ____ day of _____, 2026. Chris Wharton, Council Chair ATTEST: Keith Reynolds, City Recorder Transmitted to the Mayor on Mayor’s Action: Approved Vetoed Mayor Erin Mendenhall ATTEST: Keith Reynolds, City Recorder (SEAL) Bill No. ____ of 2026. Published Salt Lake City Attorney’s Office Approved As To Form Jaysen Oldroyd Jaysen Oldroyd This page has intentionally been left blank Initiative Number/Name Fund Revenue Amount Expenditure Amount Revenue Amount Expenditure Amount Ongoing or One- time FTEs 1 Vehicle Replacement for Urban Services Division GF 0.00 (37,000.00)One-time - 1 Vehicle Replacement for Urban Services Division GF 0.00 37,000.00 One-time - 1 Vehicle Replacement for Urban Services Division Fleet 37,000.00 37,000.00 One-time - 2 Trailer for Facilities Division GF 0.00 (30,000.00)One-time - 2 Trailer for Facilities Division GF 0.00 30,000.00 One-time - 2 Trailer for Facilities Division Fleet 30,000.00 30,000.00 One-time - 3 Wildland Firefighting Expansion Funding GF 0.00 88,000.00 One-time/Ongoing - 4 Public Lands One-time Personal Services Budget Rescope for Equipment Purchases GF 0.00 (163,900.00)One-time - 4 Public Lands One-time Personal Services Budget Rescope for Equipment Purchases GF 0.00 163,900.00 One-time - 4 Public Lands One-time Personal Services Budget Rescope for Equipment Purchases Fleet 163,900.00 163,900.00 One-time - 5 Park Land Acquisition CIP 0.00 (405,000.00)One-time - 5 Park Land Acquisition CIP 0.00 405,000.00 6 Pedestrian Bridge Over the Surplus Canal at Glendale Golf Course GF 0.00 250,000.00 One-time - 6 Pedestrian Bridge Over the Surplus Canal at Glendale Golf Course Golf 250,000.00 250,000.00 One-time - 7 Moved to Housekeeping 8 Withdrawn Prior to Transmittal 9 Public Services Facilities Division: Old Library Immediate Facility Needs GF 0.00 195,000.00 One-time - 10 Backhoe for Public Services Streets Division & Tractor for Public Lands Parks Division GF 0.00 292,819.00 One-time - 10 Backhoe for Public Services Streets Division & Tractor for Public Lands Parks Division Fleet 292,819.00 292,819.00 One-time - 11 Old Library, Plaza 349 and Justice Courts Capital Improvements CIP 5,498,741.00 5,498,741.00 One-time - 11 Old Library, Plaza 349 and Justice Courts Capital Improvements GF 0.00 889,800.00 One-time - 12 Trailer for Public Services Streets Division GF 0.00 (58,000.00)One-time - 12 Trailer for Public Services Streets Division GF 0.00 58,000.00 One-time - 12 Trailer for Public Services Streets Division Fleet 58,000.00 58,000.00 One-time - 13 Funding for Gap in Homeless Resource Center Grant Funding for Salaries GF 0.00 292,833.00 Ongoing - 14 Police Overtime Funding in FY 2026 GF 0.00 3,810,941.00 One-time - 15 Police Retirements Cost GF 0.00 977,286.00 One-time - 16 Police Mobile Command Center GF 0.00 1,000,000.00 One-time - 16 Police Mobile Command Center Fleet 1,000,000.00 1,000,000.00 One-time - 17 Justice Court, City Prosecutor's Office and Legal Defenders Association (LDA) Staffing Increases GF 0.00 189,749.00 Ongoing 8.00 17 Justice Court, City Prosecutor's Office and Legal Defenders Association (LDA) Staffing Increases IMS 9,000.00 9,000.00 One-time - 18 Parking Way-finding Signage GF 0.00 584,495.00 One-time - 19 Withdrawn Prior to Transmittal 20 Funding for Fisher Mansion CIP 0.00 500,000.00 One-time - 1 Legislative Affairs Operations Funding GF 0.00 80,000.00 Ongoing - 2 Engineering Planning and Design Housekeeping and Rescope GF 0.00 (350,000.00)One-time - 2 Engineering Planning and Design Housekeeping and Rescope GF 0.00 350,000.00 One-time - 3 Refuse Fund Revenue Budget for Lease Agreement Refuse 8,918,482.00 0.00 One-time - 4 Community Events - Rescope GF 0.00 0.00 One-time - Fiscal Year 2025-26 Budget Amendment #4 Council ApprovedAdministration Proposed Section A: New Items Section D: Housekeeping Section C: Grants for New Staff Resources Section B: Grants for Existing Staff Resources 1 Fiscal Year 2025-26 Budget Amendment #4 5 Streets GO Bonds Interest Reallocation for FY 2025-26 CIP 0.00 (1,735,515.83)One-time - 5 Streets GO Bonds Interest Reallocation for FY 2025-27 CIP 0.00 1,735,515.83 One-time - 6 California Avenue Safety Improvements Rescope CIP 0.00 0.00 One-time - 7 CPTED Streetlight – GF to CIP Transfer CIP 300,000.00 300,000.00 One-time Section E: Grants Requiring No New Staff Resources 1 Trail Maintenance for Salt Lake City Portion of the Jordan River Trail Misc Grants 57,000.00 57,000.00 One-time - Consent Agenda Total of Budget Amendment Items 16,614,942.00 16,847,383.00 0.00 0.00 8.00 Initiative Number/Name Fund Revenue Amount Expenditure Amount Revenue Amount Expenditure Amount Ongoing or One- time FTEs Total by Fund, Budget Amendment #4: General Fund GF 0.00 8,650,923.00 0.00 0.00 8.00 Fleet Fund Fleet 1,581,719.00 1,581,719.00 0.00 0.00 CIP Fund CIP 5,798,741.00 6,298,741.00 0.00 0.00 Refuse Collection Fund Refuse 8,918,482.00 0.00 0.00 0.00 Golf Fund Golf 250,000.00 250,000.00 0.00 0.00 IMS Fund IMS 9,000.00 9,000.00 0.00 0.00 Misc Grants Fund Misc Grants 57,000.00 57,000.00 0.00 0.00 - Total of Budget Amendment Items 16,614,942.00 16,847,383.00 0.00 0.00 8.00 Administration Proposed Council Approved Section I: Council Added Items Section F: Donations Section G: Council Consent Agenda -- Grant Awards 2 Fiscal Year 2025-26 Budget Amendment #4 Current Year Budget Summary, provided for information only FY 2025-26 Budget, Including Budget Amendments FY 2025-26 Adopted Budget BA #1 Total BA #2 Total BA #3 Total BA #4 Total BA #5 Total Total Revenue General Fund (FC 100)453,721,525 0.00 - - 453,721,525.09 Debt Service Fund (FC 101)30,514,822 30,514,822.00 Other Improvement Fund (FC 150)3,000 3,000.00 Capital Improvement Fund (FC 300)41,675,084 12,206,670.04 5,798,741.00 59,680,495.04 Water Utility Fund (FC 400)192,010,432 51,079,400.00 243,089,832.00 Sewer Utility Fund (FC 410)357,160,859 357,160,859.00 Stormwater Utility Fund (FC 420)25,327,969 2,000,000.00 27,327,969.00 Street Lighting Utility Fund (FC 430)5,874,881 5,874,881.00 Department of Airports Fund (FC 540)606,598,500 - 606,598,500.00 Fleet Management Fund (FC 610)23,925,700 - 1,581,719.00 25,507,419.00 Risk Management Fund (FC 620)69,846,524 69,846,524.37 Governmental Immunity Fund (FC 630)4,529,865 4,529,865.00 Information Mgt Serv Fund (FC 650)43,052,934 50,000.00 9,000.00 43,111,934.00 Local Building Authority Fund (FC 660)1,172,525 1,172,525.00 Refuse Collection Fund (FC670)25,469,123 8,918,482.00 34,387,605.00 Golf Fund (FC 680)14,156,634 250,000.00 14,406,634.00 Housing and Loan Fund (FC 690)14,082,500 14,082,500.00 CDBG Fund (FC 710)4,885,779 4,885,779.00 Miscellaneous Grants Fund (FC 720)12,714,477 3,490,212.72 4,139,704.89 57,000.00 20,401,394.61 Demolition Weed and Forfeiture (FC 730)4,365,000 4,365,000.00 Emergency 911 Dispatch (FC 750)4,295,000 4,295,000.00 Downtown Alliance Fund (FC 760)1,700,000 2,500,000.00 4,200,000.00 Donations Fund (FC 770)500,000 500,000.00 Funding Our Future Fund (FC 780)58,749,999 58,749,999.00 Transportation Fund (FC 785)14,332,500 14,332,500.00 DEA Taskforce (FC 901)1,159,208 1,159,207.61 Community Reinvestment Agency Fund (FC 920)86,036,232 86,036,232.00 Sports Arena Fund (FC 740)79,512,660 79,512,660.00 Emergency Loan Program Fund - 273,000.00 Total of Budget Amendment Items 2,177,373,732 273,000.00 71,326,282.76 4,139,704.89 16,614,942.00 - 2,269,454,661.72 3 Fiscal Year 2025-26 Budget Amendment #4 Total Expense BA #1 Total BA #2 Total BA #3 Total BA #4 Total BA #5 Total Total Expense General Fund (FC 100)464,359,952 353,000.00 913,000.00 8,650,923.00 474,276,875.26 Debt Service Fund (FC 101)36,589,783 36,589,783.00 Other Improvement Fund (FC 150)3,000 3,000.00 Capital Improvement Fund (FC 300)48,175,084 16,339,140.04 6,298,741.00 70,812,965.04 Water Utility Fund (FC 400)216,611,815 66,849,851.00 283,461,666.00 Sewer Utility Fund (FC 410)159,022,034 12,083,142.00 171,105,176.00 Stormwater Utility Fund (FC 420)26,465,800 7,349,551.00 33,815,351.30 Street Lighting Utility Fund (FC 430)8,418,357 1,327,234.00 9,745,591.00 Department of Airports Fund (FC 540)476,954,577 100,000.00 477,054,577.00 Fleet Management Fund (FC 610)23,735,252 13,202,498.00 1,581,719.00 38,519,469.00 Risk Management Fund (FC 620)69,846,524 69,846,524.37 Governmental Immunity Fund (FC 630)4,302,013 94,791.00 4,396,804.00 Information Mgt Serv Fund (FC 650)43,052,934 2,451,295.18 9,000.00 45,513,229.18 Local Building Authority Fund (FC 660)1,172,525 1,172,525.00 Refuse Collection Fund (FC670)29,357,332 9,350,559.00 - 38,707,891.00 Golf Fund (FC 680)26,570,200 957,404.00 250,000.00 27,777,604.00 Housing and Loan Fund (FC 690)14,082,500 14,082,500.00 CDBG Fund (FC 710)4,885,779 4,885,779.00 Miscellaneous Grants Fund (FC 720)12,714,477 3,490,212.72 4,139,704.89 57,000.00 20,401,394.61 Demolition Weed and Forfeiture (FC 730)4,365,000 4,365,000.00 Emergency 911 Dispatch (FC 750)9,646,688 9,646,688.00 Downtown Alliance Fund (FC 760)1,700,000 2,500,000.00 4,200,000.00 Donations Fund (FC 770)500,000 500,000.00 Funding Our Future Fund (FC 780)48,111,572 48,111,571.83 Transportation Fund (FC 785)15,106,833 15,106,833.00 DEA Taskforce (FC 901)1,159,208 1,159,207.61 Community Reinvestment Agency Fund (FC 920)86,036,232 86,036,232.00 Sports Arena Fund (FC 740)79,512,660 79,512,660.00 - Total of Budget Amendment Items 1,912,458,131 353,000.00 137,008,677.94 4,139,704.89 16,847,383.00 - 2,070,806,897.20 4 Fiscal Year 2025-26 Budget Amendment #4 Finance Department City Council Office Contingent Appropriation / Notes 5 This page has intentionally been left blank Salt Lake City FY 2025-26 Budget Amendment #4 Initiative Number/Name Fund One-time or Ongoing Amount 1 Section A: New Items A-1: Vehicle Replacement for Urban Services Division GF One-time ($37,000.00) GF One-time $37,000.00 Fleet One-time $37,000.00 Department: Public Services Prepared By: JP Goates, Julie Crookston, Kimberley Schmeling For questions, please include Jorge Chamorro, JP Goates, Julie Crookston and Kimberley Schmeling In April 2025, a compliance enforcement officer was involved in an accident that led to the total loss of one of the division's Chevy Bolt vehicles. There were no other vehicles involved; the officers swerved to avoid hitting an animal in the roadway. Since the City is self-insured, Urban Services is fully responsible for the replacement cost of the vehicle. Since the accident, the division has been using bikes in warmer weather but will need to use a loaner vehicle from the Fleet Division once bike season ends. However, this is a temporary fix. To regain full operational capacity, the Urban Services Division is proposing transferring $37,000 from its operational budget to the Fleet Division to purchase a new Chevy Bolt. This new vehicle is essential for th e division's operations, as it will replace the lost asset and help maintain enforcement efficiency and revenue generation. A-2: Trailer for Facilities Division GF One-time ($30,000.00) GF One-time $30,000.00 Fleet One-time $30,000.00 Department: Public Services Prepared By: JP Goates, Riley Bird, Kimberley Schmeling For questions, please include Jorge Chamorro, JP Goates, Riley Bird and Kimberley Schmeling When the division of Urban Services was created in FY 2026, personnel and equipment were moved from the Facilities division to Urban Services division. A drop-down trailer, previously an asset of the Facilities team used to move large equipment, including two scissor lifts, was no longer available for maintena nce and repair work completed by the staff in that division. An increase in workload related to the Clean City initiative at Urban Services means the trailer is in use full-time by that team. A drop-down trailer is the safest and most efficient way to move critical large equipment. Without it, operations are delayed and safety risks increase. Leasing a trailer is not a practical alternative as equipment is moved daily and is an ongoing need. The Division of Facilities Services is seeking to transfer funds from their operating budget to Fleet to purchase the trailer needed. No new funds are being requested. A-3: Wildland Firefighting Expansion Funding GF One-time/ Ongoing $88,000.00 Department: Fire Prepared By: Chief Lieb, Brittany Blair For questions, please include Chief Lieb and Brittany Blair The Fire Department is requesting funding to support the expanding needs of our wildland firefighting program, as wildfire risk increases and conditions continue to change in the region. According to the National Interagency Fire Center based in Boise, ID, the total number of wildfires nationwide have increased significantly over the last five years. These fires range from human caused, to natural caused, to cause undetermined. The contributing factors for wildland fires are the increase in urban centers pushing up against wildland urban interface areas, such as the east and north benches in SLC, water content in the fuels, environmental temperatures, humidity, and wind speed. The current request totals $88,000 for the remainder of this fiscal year, $75,000 of which will be ongoing costs (see the table below). These funds will cover the days of increased staffing during 2025 for periods of extreme fire weather during July through October, increased wildland training requirements, additional personal protective equipment (PPE), tools, such as hoses, nozzles and hand tools, and the replacement of aging Bendix King radios, which are over ten years old and no longer manufactured. The Bendix King radios are the standard radio used in wildland operations and are essential for the firefighting teams to communicate and coordinate on-scene with our state and regional partners during an event. Salt Lake City FY 2025-26 Budget Amendment #4 Initiative Number/Name Fund One-time or Ongoing Amount 2 The ongoing request also supports anticipated annual upstaffing needs driven by increasing red flag days, recurring PPE purchases, further equipment replacement due to loss or damage, expanded wildland training, and ongoing radio maintenance and replacement. Category Personnel FY26 Request $25,000 Ongoing Request $40,000 PPE Equipment $28,000 $25,000 Radios $35,000 $10,000 Total $88,000 $75,000 A-4: Public Lands One-time Personal Services Budget Rescope for Equipment Purchases GF One-time ($163,900.00) GF One-time $163,000.00 Fleet One-time $163,900.00 Department: Public Lands Prepared By: Gregg Evans For questions, please include Gregg Evans The Public Lands Department is requesting to rescope $163,900 in existing FY 2026 personnel budget which, if approved, will be transferred to the Fleet Fund as one-time funding for the purchase of capital equipment. The funds being requested for this transfer to Fleet were generated from attrition and vacancy savings from the first half of th is fiscal year. Savings are generated throughout the fiscal year from positions remaining vacant during the typical hiring process, especially when there is difficulty in hiring some positions. The Department continually tracks the duration of all vacancies to calculate the estimated savings. The Department is proposing to use the one-time funds to purchase the equipment detailed below. • $50,300 - Kubota RTV Utility Vehicle, this new unit will support the ongoing watering of newly planted trees throughout the maintenance district 2 area. Currently, staff are using a 1 -ton dump truck for tree watering, adding this vehicle will free up a 1-ton truck in District 2 used for watering trees to be repurposed to the detail (rag) crew in District 2. • $47,500 - Toro Dingo to replace stolen trencher (Unit # 81510) with a new trencher. • $15,600 – Aerator, the new aerator requested will help prevent soil compaction in high-use common and spectator areas at the Regional Athletic Complex (RAC). Currently, the RAC does not own an aerator and has relied on borrowing the Parks Department’s unit for more than five years. The current unit will be repurposed to perform turf aeration on park properties throughout the City. • $50,500 - Caterpillar model 302 C3 small excavator for trail repairs and maintenance. The primary purpose of this new machine will be in-house trail construction and maintenance performed by the Trails Team. Currently, all machine work on trails is either contracted out with variable results or completed using rented equipment at a cost of approximately $4,000 per month. The Trails Team now has an experienced machine operator on staff with six years of trail construction and maintenance experience, allowing this work to be completed internally with greater consistency and higher quality results. In addition, this excavator would also support restoration projects, fire mitigation efforts, and vegetation management across Natural Lands properties. Salt Lake City FY 2025-26 Budget Amendment #4 Initiative Number/Name Fund One-time or Ongoing Amount 3 A-5: Park Land Acquisition CIP One-time ($405,000.00) CIP One-time $405,000.00 Department: Public Lands Prepared By: Gregg Evans For questions, please include Gregg Evans The Public Lands Department in coordination with Real Estate Services is requesting a budget amendment in the amount of $405,000 that will utilize Parks Impact Fees to fund the acquisition of 1.09 acres of open space. A-6: Pedestrian Bridge Over the Surplus Canal at Glendale Golf Course GF One-time $250,000.00 Golf One-time $250,000.00 Department: CAN Prepared By: Mark Stephens, Dawn Valente For questions, please include Mark Stephens, Dawn Valente and Tammy Hunsaker The United States Army Corps of Engineers (USACE) and Salt Lake County Flood Control (SLCoFC) identified multiple unpermitted encroachment violations along the Surplus Canal located within the geographic boundaries of Salt Lake City. Resolution of these encroachment violations were shared between SLC Public Utilities, SLC Engineering and the SLC Airport. One of the major encroachment violations assigned to SLC Engineering was the permitting and erosion control of an existing, previously constructed pedestrian bridge at the Glendale Golf Course spanning the Surplus Levee Canal. The above-mentioned USACE design review process and approvals have taken years, and until recently Engineering did not know when the final USACE would be approved. Now that the USACE has provided approval, project bidding and construction is considered urgent, and as such, obtaining funding through a budget amendment process has been deemed the best approach in lieu of waiting for the next Capital Asset Planning process. The $250,000 requested in this amendment is to cover construction costs associated with installing the erosion control rip-rap revetment under the existing bridge surrounding the piles driven into the canal that support the bridge structure above. USACE requires the placement of this revetment t o treat existing erosion and to prevent further erosion around the pedestrian bridge piles that support the structure. This will also ensure and protect the structural integrity of the Surplus Canal banks. Increases to flood insurance costs could be incurred by surrounding residents and businesses if the City does not address this violation. Part of the reason for the emergency is that as the Federal Emergency Management Agency (FEMA) updates their Flood Insurance Rate Maps (FIRM) based on levee conditions reported by USACE, any lacking levee deficiency , such as the one to be rectified by the proposed project, poses the risk for flood insurance rates to be increased for those properties, homes and businesses protected by the levee. A-7: Moved to Housekeeping as D-6 A-8: Withdrawn Salt Lake City FY 2025-26 Budget Amendment #4 Initiative Number/Name Fund One-time or Ongoing Amount 4 A-9: Public Services Facilities Division: Old Library Immediate Facility Needs GF One-time $195,000.00 Department: Public Services Prepared By: JP Goates, Josh Lander, Kimberley Schmeling For questions, please include Jorge Chamorro, JP Goates, Josh Lander and Kimberley Schmeling Maintenance activities began in September of this year with miscellaneous repairs for The Leonardo, but when the building was vacated by the tenant and turned over to the City, activities have ramped up and have included but have not been limited to: - grounds maintenance, - repairs to doors, plumbing, electrical and mechanical systems, - janitorial and moving services, and - security. Work on these items needs to continue at a minimum to keep the building functional and secure. Public Services is requesting $195,000 to continue maintenance and security efforts. The largest of these expenses will be $130,000 for security access and camera installations; the remaining funding will be for the maintenance expenses listed above. Security updates have been deemed necessary because the building’s existing access control system is outdated and in need of repair. In addition, the city no longer has licensing for Mellennium, which means City badges cannot be programmed to work with the existing system. Also, since this is a City building, the City’s Security Director has requested that cameras be installed to monitor the site. A-10: Backhoe for Public Services Streets Division & Tractor for Public Lands Parks Division GF One-time $292,819.00 Fleet One-time $292,819.00 Department: Public Services Prepared By: Julie Crookston, Kimberley Schmeling For questions, please include Jorge Chamorro, Julie Crookston and Kimberley Schmeling Two assets -- one in Public Lands and one in Streets -- have recently experienced severe and unrepairable breaks. Public Lands Tractor – This asset had a catastrophic break occur recently. It will cost about $7,000 to repair. However, prior to the break the estimated value of the asset was no more than $1,000 due to its age and continued heavy use. The tractor was originally purchased in 2008 and has been eligible for replacement since August 2023. Due to volume of assets needing replaced, both in Public Lands and throughout the City, replacement of other older or more critical assets have taken priority. Of the 52 assets Public Lands needed replaced, this tractor was originally 37 th on the list in order of seniority. Fleet and Public Lands have now determined this tractor needs to be replaced as soon as possible, rather than waiting for the FY 2027 replacement cycle. Parks District 1 (serving Pioneer Park, Riverside Park, Cottonwood Park, etc.) uses this asset heavily since it has many different attachments which allow it to be used for a variety of tasks. For example, it is used in the spring as a seed spreader and fertilizer. In the fall, it is used as a leaf collector, leaf blower, and a sweeper. In the summer it functions as a backup mower. There are no rental options available for this type of tractor. It is imperative this asset is replaced with one that is compatible with all the attachments we already own. Fleet has committed all of the FY 2026 replacement funding and is unable to cover the cost of replacing this asset. Likewise, Public Lands does not have enough projected end-of-year savings to cover the cost. The cost of replacing the tractor is $55,819. The lead time for this asset is a minimum of three months . Streets Backhoe – This asset also suffered a catastrophic break. The current estimated value of the backhoe prior to the break was about $27,000. The repairs needed are estimated to cost over $40,000, and due to the nature of the required repairs, it is likely there will continue to be repair issues with this asset even after the repairs. As such, it is not economical to repair the backhoe. Salt Lake City FY 2025-26 Budget Amendment #4 Initiative Number/Name Fund One-time or Ongoing Amount 5 This asset was not projected to be eligible for replacement until 2027. After review, it was determined there was no abuse by the users, and the asset was being used appropriately and for its intended purpose. This asset is heavily utilized, creating a large amount of wear and tear. It has been operated by the concrete crews as they repair concrete throughout the City and is vital to their work excavating damaged concrete prior to pouring new concrete. Th is asset needs to be replaced as soon as possible rather than waiting for the FY 2027 replacement cycle. There are no rental options available for this exact size, and a smaller backhoe would greatly decrease efficiency of the team, creating a reduction of service. Fleet has committed all FY 2026 replacement funding and is unable to cover the cost of replacing this asset. Likewise, Streets does not have enough projected end-of-year savings to cover the cost. The cost of replacing the backhoe is $237,000. In the backup documentation quotes for both assets are provided. Public Services is also requesting a straw poll for this BA, to allow the orders to be placed as soon as possible, and thus delivered as quickly as possible. A-11: Old Library, Plaza 349 and Justice Courts Capital Improvements CIP One-time $5,498,741.00 GF One-Time 889,800.00 Department: Public Services Prepared By: Jorge Chamorro, JP Goates, Kimberley Schmeling For questions, please include Jorge Chamorro, JP Goates and Kimberley Schmeling To support internal growth, with the most pressing one being the addition of a new judge and their supportive staff at the Justice Courts building, and to address space constraints in several City offices, the City plans to reinvest in three key facilities: the Old Library, Plaza 349 and Justice Courts. This initiative may include completing essential infrastructure upgrades (elevators, HVAC, etc.) at the Old Library (former Leonardo museum), converting into a mixed-use space including City offices on the third floor and classrooms, meeting, and gallery space on the second floor, and additional administrative offices on the first floor. It also includes addressing aging systems at Plaza 349 and supporting the relocation of certain Justice Courts staff. This will allow time for the City to explore alternatives to adequately house the Justice Courts. The Department intends to utilize the interest accrued from the tax-exempt bond. Upon review, it has been determined that the above-mentioned project costs are eligible to be covered by bond interest proceeds. The Architectural team has prepared a high-level estimate of $5,498,741. The project includes interior renovations to accommodate the Justice Courts ($300,000), critical repairs to the elevators ($250,000), storm dr ainage ($36,000), and tech ($75,000). Permits will cost $45,000. Design, engineering and project management ($822,941), and construction/general contracting, and contingencies ($3,080,000) make up the bulk of the expense. F urniture, fixtures and equipment (FF+E) expenses ($889,800) round out the budget. The FF+E will not be included in bond interest financing and will be supported by General Fund Fund Balance. A-12: Trailer for Public Services Streets Division GF One-time ($58,000.00) GF One-time $58,000.00 Fleet One-time $58,000.00 Department: Public Services Prepared By: Julie Crookston, James Aguilar, Kimberley Schmeling For questions, please include Jorge Chamorro, Julie Crookston, James Aguilar and Kimberley Schmeling A trailer used by the Streets division in Public Services has suffered a permanent break. The metal frame has cracked and is unrepairable. This trailer is a critical piece of equipment used by Streets' asphalt crews to haul equipment to roadways when they are performing more robust asphalt repairs, such as repairing larger than normal potholes and doing inlays. This asset was not projected to be eligible for replacement until 2027. After a review it was determined there was no abuse by the users, and the asset was being used appropriately and for its intended purpose. This asset is heavily utilized, Salt Lake City FY 2025-26 Budget Amendment #4 Initiative Number/Name Fund One-time or Ongoing Amount 6 thus creating a large amount of wear and tear. Fleet has committed all the FY 2026 replacement funding and is unable to cover the cost of replacing this asset this year. Streets is currently projected to have enough end -of-year savings to cover the cost of replacing this trailer. This amendment is to transfer $58,000 from Streets to Fleet cover the cost of replacing the asset. A-13: Funding for Gap in Homeless Resource Center Grant Funding for Salaries GF Ongoing $292,833.00 Department: Police Prepared By: David Pond, Shellie Dietrich For questions, please include Chief Redd, Shellie Dietrich and David Pond Budget for HRC mitigation officer salary portion not covered by the State HRC grant $292,833. The amount of funding awarded for the FY 2026 HRC mitigation grant to cover the 19.0 employees is $2,735,048 which was a reduction of $210,909 from FY 2025 funded at $2,945,957. The total estimated personnel cost is $3,027,881 requiring a budget of $292,833 for FY 2026 general fund. The existing funding provides for 19 FTE's, which is three squads and a supervising Lieutenant. To maintain functionality at the Homeless Resource Center, Police needs to keep staffing at this level. A-14: Police Overtime Funding in FY 2026 GF Ongoing $3,810,941.00 Department: Police Prepared By: David Pond, Shellie Dietrich For questions, please include Chief Redd, Shellie Dietrich and David Pond The police department is requesting additional funding to cover overtime expense. This cost is currently budgeted at $3,993,611 and the department does not have anticipated vacancy savings to cover overtime. The total overtime in FY 2026 is not expected to reach the FY 2025 total cost of $8,244,009 but is trending at the FY 2024 actuals of $7,804,990. The police department utilizes overtime to manage shift coverage in the heavy summer months, provide mitigation, proactive enforcement, and staff special events. In FY 2025, the department had an overtime budget of $6 ,886,430 and utilized vacancy savings to cover the additional costs above budget. This year the department does not anticipate vacancy savings and is requesting additional budget of $3,810,941. With the changes in the department organization structure, staff, and staffing levels; the department is working to make long-term improvements to reduce the need for overtime at this level. This will take time, and this budget item is a one- time request with the intention to support the remainder of FY 2026. The police department is requesting additional funds to cover overtime. Ongoing: $2,493,611 Funded in MRB: $1,500,000 FY 26 Budget $3,993,611 FY 26 Expense to date: $3,301,926 FY 26 Trending $7,804,553 FY 26 additional funds needed $3,810,941 Salt Lake City FY 2025-26 Budget Amendment #4 Initiative Number/Name Fund One-time or Ongoing Amount 7 A-15: Police Retirements Cost GF One-time $977,286.00 Department: Police Prepared By: David Pond, Shellie Dietrich For questions, please include Chief Redd, Shellie Dietrich and David Pond The police department is requesting additional funding to cover retirement payouts. This cost is not currently budgeted, and the department does not have anticipated vacancy savings to cover this cost. Personnel costs for Retirement and severance: Retirement and Severance Payout Amount through 10/31 $805,286 Known Pending Retirements through 1/31/2026 $172,000 Total $977,286 A-16: Police Mobile Command Center GF One-time $1,000,000 Fleet One-time $1,000,000 Department: Police Prepared By: David Pond, Shellie Dietrich For questions, please include Chief Redd, Shellie Dietrich and David Pond A mobile command center is needed by the police department to manage on scene response and presence at natural disasters, large scale events, events with long durations, special events and protests. A lead time of 1 year requires budget in FY 2026 to facilitate delivery and availability for large events scheduled for Early 2027. Mobile Command Center (MCC) - The police department is requesting one-time funding to acquire a mobile command center. The estimated cost is $1,000,000. This funding request seeks support for the acquisition of a Mobile Command Center (MCC) to significantly improve the operational capabilities the Police Department. The MCC will serve as a critical asset in managing emergencies, coordinating multi-agency responses, and ensuring public safety during high-risk incidents and large-scale events. The investment aligns with city and state priorities for public safety, emergency preparedness, community resilience and the Public Safety Plan. Our jurisdiction faces a growing number of complex public safety challenges, including: • Natural disasters (earthquakes, wildfires, floods, severe weather) • Mass casualty incidents and active shooter events • Large public gatherings and civil disturbances • Infrastructure failures and cybersecurity threats Having a MCC will provide the tools necessary to meet those challenges and: • Enhance emergency response times and coordination. • Improve situational awareness and decision-making during critical incidents. • Provide a secure and centralized location for command operations. • Increase community engagement and visibility during public events. • Increase public confidence in law enforcement preparedness. Currently, Salt Lake City Police lacks a mobile, self-sufficient platform to coordinate field operations during such events. The police department had a motorhome which was recently disposed of by fleet that was purchased used in 2001 that hasn’t been functional or operable for a year. As a result, the department relies on neighboring local or state agencies for use of a command center during critical incidents. While the fire department has a mobile command center, in a major response to a disaster, critical incident or major event, both departments will need on-scene command capabilities to Salt Lake City FY 2025-26 Budget Amendment #4 Initiative Number/Name Fund One-time or Ongoing Amount 8 manage resources and response. This request ensures both departments can operate independently and effectively during major incidents. This gap limits our ability to respond swiftly, communicate effectively, and manage resources efficiently in dynamic environments. The Mobile Command Center represents a strategic investment in public safety infrastructure. With support for funding, the Police Department will be better equipped to protect lives, property, and critical infrastructure during emergencies and high-risk events. The Police Department respectfully requests consideration for funding to support this vital initiative. A-17: Justice Court, City Prosecutor's Office and Legal Defenders Association (LDA) Staffing Increases GF Ongoing $189,749.00 IMS One-time $9,000.00 Department: Justice Court / Attorney’s Office Prepared By: Ben Luedtke For questions, please include Ben Luedtke, Cindy Lou Trishman, Mark Kittrell, Kathryn Fairchild Justice Court, City Prosecutor's Office, and Legal Defenders Association (LDA) Staffing Increases ($189,749 from General Fund Balance of which $174,220 is ongoing for personnel, $6,529 is ongoing for Justice Court operations, and $9,000 is one-time to the IMS Fund for computers) The Administration is proposing funding to add a total of 11 FTEs across the three offices including four FTEs at the Justice Court, four FTEs at the City Prosecutor’s Office, and funding for three FTEs at the LDA (who are not City employees). If this item is approved as proposed plus a sixth judge, then the FY2027 annual budget would need $1,554,826 to cover the fully loaded annual costs. Details of the proposed positions and costs are provided below and grouped by each of the three offices. Simultaneously adding staff capacity in all three offices to address increasing workload is the recommended approach because there are multiple interdependencies between the offices. Since annual budget deliberations in the spring, case filings continued to grow especially for criminal cases and criminal hearings which have exceeded pre-pandemic levels. The additional staff proposed would reduce workload per employee to support service levels. Sixth Justice Court Judge It’s important to note that funding for a sixth judge is not included in this budget amendment because the appointment process is estimated to take six months and would exceed the current fiscal year period. The Administration is requesting the Council’s approval for a sixth judge, FTE to begin the hiring and appointment process. Funding for a sixth judge would be included in the FY2027 annual budget and has a fully loaded estimated cost of $266,447. Earlier this year, in August the Administration recommended and in October the Council adopted an ordinance amendment to City Code Chapter 2.84 to allow future expansion of judgeships at the Justice Court including a sixth judge. The State Judicial Council also authorized a sixth judge at the City’s Justice Court. Per City Code, the Mayor appoints a Justice Court judge, and they are then confirmed by the City Council. Per Utah Code, justice court judges serve for a six-year term. A total of $112,714 to the Justice Court The Justice Court is proposed to receive $97,185 for three new FTEs, $9,000 for three computers, and $6,529 for increased operating costs to mostly cover more interpreters and several smaller expenses. The total number of FTEs in the Justice Court would increase to 48 FTEs (9% increase including the sixth judge). If all the positions and operational costs are approved including a sixth judge, then the FY2027 annual budget would need $630,411. - $50,891 ongoing to cover four months of a new Clerk of Court which is a new position at the Justice Court (see the attached HR approved job description), and $3,000 one-time for a computer. The fully loaded annual cost of the position is estimated at $152,672. This position would function like a department deputy director which the Justice Court does not currently have. Salt Lake City FY 2025-26 Budget Amendment #4 Initiative Number/Name Fund One-time or Ongoing Amount 9 - $46,294 ongoing to cover three months for two direct support Judicial Assistants Level 2 ($23,147 each), and $6,000 one-time for three computers. The fully loaded annual cost of the positions is estimated at $185,177 ($92,589 each). These judicial assistants would work directly with the sixth Justice Court judge providing administrative support. The funding is proposed for three months to allow time for the new supervisor position (Clerk of Court) to be hired one month earlier and to allow six-months training before the sixth judge is appointed. - $6,529 ongoing to cover three months of increased operational costs which would mostly be used for interpreter services. The funds may also be used for several other expenses such as jury fees, equipment maintenance, printing and postage among others. The FY2027 annual budget would need $26,115 to cover a full year of the increased operational costs. A total of $43,920 to the City Prosecutor’s Office The City Prosecutor’s Office is proposed to receive $43,920 for four new FTEs. Funding for computers is included in the operations fee paid by the City under the interlocal agreement with the County to manage the City Prosecutor’s Office. The total number of FTEs in the office would increase to 36 FTEs (13% increase). If all the positions are approved, then the FY2027 annual budget would need $527,041 to fully cover the annual cost. - $33,699 ongoing to cover one month for three Associate Prosecutors ($11,233 each). The fully loaded annual cost of the positions is estimated at $404,383 ($134,794 each). These positions would help reduce the per attorney caseload. - $10,221 ongoing to cover one month for a Paralegal. The fully loaded annual cost of the position is estimated at $122,657. Attorneys have absorbed some paralegal work to fit within staffing limits so adding this position would free up time for attorneys to work on other matters. This position would support discovery, screenings, and diversion efforts. A total of $33,115 to the Legal Defenders Association (LDA) The LDA is proposed to receive $33,115 for three new positions which are not City employees; this additional funding would be added to the annual Nondepartmental line-item for the LDA contract with the City. If all the positions are approved, then the FY2027 annual budget would need $397,374 to fully cover the annual cost. This would increase the total contract amount to $2,191,184 (22% increase). - $25,467 ongoing to cover one month for two Attorneys ($12,734 each). The fully loaded annual cost of the positions is estimated at $305,607 ($152,804 each). These positions would help reduce the per attorney caseload. Legal defenders are not involved in every case; the LDA doesn’t get involved in cases that are resolved before appointment and are not usually appointed on cases that involve only infraction level charges . - $7,647 ongoing to cover one month for a Case Manager. The fully loaded annual cost of the position is estimated at $91,767. The case manager would support the Familiar Faces Court and diversion efforts including Project Rio. - Salt Lake City FY 2025-26 Budget Amendment #4 Initiative Number/Name Fund One-time or Ongoing Amount 10 A-18: Parking Way-finding Signage GF One-time $584,495.00 Department: CAN Prepared By: Mary Beth Thompson For questions, please include Kyle Cook, Jorge Chamorro, James Aguilar, Orion Goff and Tammy Hunsaker Design options have been developed for parking wayfinding signage where it needs replacement or has been deemed necessary. There were originally 54 way-finding signs downtown. Of the original 54 signs, only 17 are still in service. Public Services/Streets do not have the equipment necessary to produce these large signs. As such, Transportation/Engineering must find a third party to refurbish or produce and place the signs. A vinyl overlay can be used on the 17 existing signs for a cost of $3,100 per sign amounting to a total of $52,700, although that isn’t considered the most attractive option. The preferred option would be to refurbish the 17 signs at a cost of $4,900 per sign, for a total of $83,300. This option would be a full refurbishment of the signs that would leave no evidence of the previous sign graphics. Additionally, there may also be a need to refurbish some of the foundations of the 17 existing signs at a cost of $1700 each. Once the preferred approach to refurbish the signs is determined by the Council, the balance of $584,495 can be used toward new signs at a cost of $12,400 each. A-19: Withdrawn Prior to Transmittal A-20: Funding for Fisher Mansion CIP One-time $500,000.00 Department: Mayor’s Office Prepared By: Mary Beth Thompson For questions, please include Mary Beth Thompson, Jill Love and Jorge Chamorro CIP funding is being requested for the Fisher Mansion to be used for projects that include replacing the exterior skylight, repairing interior plaster cracks, refinishing soffits and fascia, and restoring deteriorated sandstone porch elements. It would also include installing new wood floors over a new subfloor that is already under contract. A lternatively, the budget could be focused solely on restoring as many doors and windows as possible. Full restoration of doors and windows is estimated to exceed the available budget. Section B: Grants for Existing Staff Resources Section C: Grants for New Staff Resources Section D: Housekeeping D-1: Legislative Affairs Operations Funding GF Ongoing $80,000.00 Department: Attorney Prepared By: Cindy Lou Trishman For questions, please include Cindy Lou Trishman Amending the budget to include the previously provided $80,000 to Legislative Affairs for operating costs. Costs include state capital access, parking needs, travel, professional development, and event support. D-2: Engineering Planning and Design Housekeeping and Expansion GF Ongoing ($350,000.00) GF Ongoing $350,000.00 Department: CAN Prepared By: Mark Stephens, Julianne Sabula Salt Lake City FY 2025-26 Budget Amendment #4 Initiative Number/Name Fund One-time or Ongoing Amount 11 For questions, please include Tammy Hunsaker, Mark Stephens and Julianne Sabula In the annual budget, as part of the Ongoing Commitments a transfer of $350,000 was set up to be made from General Fund to the CIP fund. It was determined for FY 2026 that it would be better housed in the Non -Departmental cost center within the general fund, however the accounting for the transfer did not get corrected. This budget amendment first needs to correct the "transfer to CIP fund" to an operational expense in the Non-Departmental cost center. This portion of the BA request is simply housekeeping. In addition to the housekeeping request, the Administration is requesting clarification on the types of projects that these funds can be used for. In the current budget, these funds are called, “Planning and Design” and have been intended to facilitate the planning and design of CIP projects prior to construction. For purposes of clarity, the Administration is requesting that these funds be used not only to develop design documents and cost estimates but expanded to include creating and updating master plans and other plans that are required by federal or state requirements. D-3: Refuse Fund Carry Revenue Budget for Lease Agreement Refuse One-time $0.00 Department: Sustainability Prepared By: Debbie Lyons For questions, please include Debbie Lyons, Chris Bell and Ammon Jacobsmeyer The Sustainability Department is requesting $8,918,482 in revenue for the Refuse Fund. As part of BA#1, the revenues to offset expenses were not accounted for. Budget is required in order to realize financing revenue to enter lease agreements for the new Waste & Recycling collection vehicles we expect to receive in FY 2026. D-4: Community Events - Rescope GF One-Time $0.00 Department: Administration Prepared By: Mary Beth Thompson For questions, please include Mary Beth Thompson This item is to rescope $400,000 budgeted in NonDepartmental from Open Streets as follows: $100,000 for the DTA Blocks program; $200,000 for the watch party; and $100,000 for America 250 events. Unused funds will drop to fund balance. Money is being raising to support these events. D-5: Streets GO Bonds Interest Reallocation for FY 2025-26 CIP One-time ($1,735,515.83) CIP One-time $1,735,515.83 Department: CAN Prepared By: Dawn Valente, Dustin Petersen For questions, please include Dawn Valente, Dustin Petersen and Brent Beck This budget amendment is requesting to allocate the interest from FY 2025 BA#2 for Streets GO bonds in the amount of $1,735,515.83, in addition to any interest which will accrue while processing the invoice reallocations and bond draws from July 1, 2025 through the remainder of the fiscal year June 30, 2026, to be used to fund additional rebuilds of city streets as determined by the Engineering Division's Six Year Pavement Plan and deliberations of the Roadway Selection Committee. Engineering would like to request a straw poll for this housekeeping reallocation. Once approved, Engineering will need to do journal entries to reallocate costs for Treasury to do the bond draws for the bonds that have expired. Then if there is residual interest, another budget amendment will be needed for the remaining unallocated interest, along with additional invoices to be reallocated so the totality of these bonds can be spent. Waiting for the bond draws will incur additional earned interest which may be subject to arbitrage and the potential loss of funding for more roadway rebuilds. Salt Lake City FY 2025-26 Budget Amendment #4 Initiative Number/Name Fund One-time or Ongoing Amount 12 One project that Engineering is looking to fund after the reallocation funding is complete is the 1700 East reconstruction from 1700 South to 2100 South which was on the original reconstruction list but had to be pulled due to funding shortage in the 2018 GO Bond series. Engineering and Transportation are working alongside Public Utilities to coordinate their storm drainage project along 1700 East within and ahead of our road construction project limits, as well as the Highland High Reconstruction that the school board will be doing over the next few years. This should be another success story like 2100 South reconstruction where Engineering is able to install all the upgraded sewer and water lines for Public Utilities as part of the roadway construction project to accommodate forthcoming private development capacity needs without having to tear up new pavement within a few years. This collaboration with the City’s internal Departments/Divisions and external entities is saving taxpayer dollars. D-6: California Avenue Safety Improvements Rescope CIP One-time $0.00 Department: CAN Prepared By: Julianne Sabula For questions, please include Julianne Sabula, Jon Larsen and Tammy Hunsaker City Council funded a constituent requested project in the fall of 2024 to improve pedestrian safety in the Glendale neighborhood. The project proposed to relocate curb and gutter to widen sidewalks and reduce the pedestrian crossing distance on California Avenue, between Glendale Drive and Concord St, along with other safety improvements. During the civil design work, it was discovered that relocating the curb and gutter would be more expensive than anticipated to allow proper drainage of the relatively flat elevation. Transportation is requesting to rescope funding to allow other improvements, as well as to expand the project area to include two nearby schools. Potential improvements could include landscaping, lighting, traffic calming, pedestrian safety i mprovements and/or school crosswalk. Adequate funds are available to address these items, but the Council needs to approve the budget rescope. D-7: CPTED Streetlighting– GF to CIP Transfer CIP One-Time $300,000 Department: Finance Prepared By: Mike Atkinson As part of the annual budget, the $300,000 was not recognized in key chances with the adoption of the CIP Budget. This action is to recognize this item. Section E: Grants Requiring No New Staff Resources E-1: Trail Maintenance for Salt Lake City Portion of the Jordan River Trail Misc Grants One-time $57,000.00 Department: Finance Prepared By: Amy Dorsey, Julianne Sabula For questions, please include Amy Dorsey and Julianne Sabula This budget amendment is to recognize the City's funding availability grant award in the amount of $57,600 for the purpose of removing dead and dying trees and other woody vegetation to improve navigability, safety and beautification of the Jordan River between 1700 South and 900 South. Section F: Donations Section G: Consent Agenda Consent Agenda # Salt Lake City FY 2025-26 Budget Amendment #4 Initiative Number/Name Fund One-time or Ongoing Amount 13 Section I: Council Added Items This page has intentionally been left blank Impact Fees - Summary Data pulled 06/30/2025 Unallocated Budget Amounts: by Major Area Area Cost Center Notes: 8484001 1,697,464$ 8484002 685,449$ B 8484003 12,723,823$ C Impact fee - Streets 8484005 1,615,373$ D 16,722,109$ Expiring Amounts: by Major Area, by Month 202407 (Jul2024)2025Q1 -$ -$ -$ -$ -$ 202408 (Aug2024)2025Q1 -$ -$ -$ -$ -$ 202409 (Sep2024)2025Q1 -$ -$ -$ -$ -$ 202410 (Oct2024)2025Q2 -$ -$ -$ -$ -$ 202411 (Nov2024)2025Q2 -$ -$ -$ -$ -$ 202412 (Dec2024)2025Q2 -$ -$ -$ -$ -$ 202501 (Jan2025)2025Q3 -$ -$ -$ -$ -$ 202502 (Feb2025)2025Q3 -$ -$ -$ -$ -$ 202503 (Mar2025)2025Q3 -$ -$ -$ -$ -$ 202504 (Apr2025)2025Q4 -$ -$ -$ -$ -$ 202505 (May2025)2025Q4 -$ -$ -$ -$ -$ 202506 (Jun2025)2025Q4 -$ -$ -$ -$ -$ Current Month 202507 (Jul2025)2026Q1 202508 (Aug2025)2026Q1 -$ -$ -$ -$ -$ 202509 (Sep2025)2026Q1 -$ -$ -$ -$ -$ 202510 (Oct2025)2026Q2 -$ -$ -$ -$ -$ 202511 (Nov2025)2026Q2 -$ -$ -$ -$ -$ 202512 (Dec2025)2026Q2 -$ -$ -$ -$ -$ 202601 (Jan2026)2026Q3 -$ -$ -$ -$ -$ 202602 (Feb2026)2026Q3 -$ -$ -$ -$ -$ 202603 (Mar2026)2026Q3 -$ -$ -$ -$ -$ 202604 (Apr2026)2026Q4 -$ -$ -$ -$ -$ 202605 (May2026)2026Q4 -$ -$ -$ -$ -$ 202606 (Jun2026)2026Q4 -$ -$ -$ -$ -$ 202607 (Jul2026)2027Q1 -$ -$ -$ -$ -$ 202608 (Aug2026)2027Q1 -$ -$ -$ -$ -$ 202609 (Sep2026)2027Q1 -$ -$ -$ -$ -$ 202610 (Oct2026)2027Q2 -$ -$ -$ -$ -$ 202611 (Nov2026)2027Q2 -$ -$ -$ -$ -$ 202612 (Dec2026)2027Q2 -$ -$ -$ -$ -$ 202701 (Jan2027)2027Q3 -$ -$ -$ -$ -$ 202702 (Feb2027)2027Q3 -$ -$ -$ -$ -$ 202703 (Mar2027)2027Q3 -$ -$ -$ -$ -$ 202704 (Apr2027)2027Q4 -$ -$ -$ -$ -$ 202705 (May2027)2027Q4 -$ -$ -$ -$ -$ 202706 (Jun2027)2027Q4 -$ -$ -$ -$ -$ 202707 (Jul2027)2028Q1 -$ -$ -$ -$ -$ 202708 (Aug2027)2028Q1 16,511$ -$ -$ -$ 16,511$ 202709 (Sep2027)2028Q1 43,763$ -$ -$ -$ 43,763$ 202710 (Oct2027)2028Q2 52,548$ -$ 1,089,717$ -$ 1,142,265$ 202711 (Nov2027)2028Q2 9,554$ -$ 923,400$ -$ 932,954$ 202712 (Dec2027)2028Q2 65,118$ -$ 2,931,110$ -$ 2,996,228$ 202801 (Jan2028)2028Q3 2,736$ -$ 91,357$ -$ 94,093$ 202802 (Feb2028)2028Q3 15,159$ -$ 189,853$ -$ 205,012$ 202803 (Mar2028)2028Q3 14,776$ -$ 466,744$ -$ 481,520$ 202804 (Apr2028)2028Q4 34,298$ -$ 1,383,521$ -$ 1,417,819$ 202805 (May2028)2028Q4 22,990$ -$ 881,420$ -$ 904,410$ 202806 (Jun2028)2028Q4 20,966$ -$ 124,361$ -$ 145,327$ Total, Currently Expiring through Jun 2028 298,418$ -$ 8,081,483$ -$ 8,379,901$ FY 2 0 2 5 Calendar Month FY 2 0 2 6 FY 2 0 2 7 FY 2 0 2 8 Fiscal Quarter E = A + B + C + D Total Impact Fees (Page 1) Data pulled 06/30/2025 AAA BBB CCC DDD = AAA - BBB - CCC Fire Allocation Budget Amended Allocation Encumbrances YTD Expenditures Allocation Remaining Appropriation Budget Amount Values Description Cost Center FY24B4A6-3036-Fire Station 1 Fencing 130,275$ -$ -$ 130,275$ 8419202 3,079$ -$ 3,021$ 58$ 8423004 29,000$ -$ 1,540$ 27,460$ Grand Total Parks Allocation Budget Allocation Encumbrances YTD Expenditures Remaining Description Cost Center Allocation Budget Allocation Allocation YTD Sum of Parks Allocation Remaining Appropriation FY24CIP-3037-337 Park Development 550,000$ -$ -$ 550,000$ FY25B1D15-3037-Folsom Trail Landscapin 1,000,000$ -$ -$ 1,000,000$ FY25B1D15-3037-Glendale Park Phase 2 11,350,000$ 848,724$ 1,585,115$ 8,916,161$ FY25B1D15-3037-Liberty Park All Abilities 2,000,000$ -$ -$ 2,000,000$ FY25B1D15-3037-Warm Springs & North G 1,000,000$ -$ -$ 1,000,000$ 8416005 1,733$ 855$ 1,733$ (855)$ 8423406 287,848$ -$ 8,420$ 279,428$ 8420136 149,953$ (124,185)$ 151,104$ 123,034$ FY25CIP-3037-Amplifying Our Jordan Rive 1,300,000$ -$ -$ 1,300,000$ 8418005 262,043$ -$ 82,796$ 179,248$ FY24CIP-3037-Cottonwood Park Trailhead 648,000$ -$ -$ 648,000$ 8420424 240,239$ -$ 143,325$ 96,914$ 8418002 23,262$ -$ 19,638$ 3,624$ FY25CIP-3037-Equal Grounds Project (Cali 86,200$ -$ -$ 86,200$ FY FY25CIP-3037-Fairmont Park Basketball C 678,600$ -$ -$ 678,600$ FY24CIP-3037-Fire Station No. 7 Tennis an 416,150$ -$ -$ 416,150$ 8421401 132,208$ -$ 123,813$ 8,396$ 8420430 125,740$ -$ 125,495$ 245$ 8423408 499,457$ -$ 5,511$ 493,946$ 8423450 4,350,000$ 542,000$ 3,788,200$ 19,800$ 8422406 2,246,982$ (8,929)$ 1,850,202$ 405,709$ C 8422408 513,788$ -$ 513,788$ 0$ 8422410 315,770$ -$ 156,146$ 159,624$ 8420406 54,808$ -$ -$ 54,808$ 8423005 29,000$ -$ 1,540$ 27,460$ 8419103 6,398$ -$ -$ 6,398$ FY24CIP-3037-Jefferson Park Improvemen 530,000$ -$ -$ 530,000$ 8420134 404,139$ -$ 15,108$ 389,031$ 8422414 475,079$ -$ 14,844$ 460,235$ 8417018 1,570$ -$ -$ 1,570$ 8417017 2,946$ -$ -$ 2,946$ 8423409 299,269$ -$ 220,000$ 79,269$ 8417011 60,928$ -$ 60,928$ -$ 8423451 996,905$ 84,133$ 432,000$ 480,772$ 8423407 864,449$ -$ -$ 864,449$ 8423452 450,000$ -$ 33,140$ 416,860$ 8423453 300,000$ -$ -$ 300,000$ Parks Bilingual Signage Installation FY24CIP-3037-Parks Bilingual Signage Ins 331,200$ -$ -$ 331,200$ Park's Consultant's Contract 8419204 2,638$ -$ 2,596$ 42$ Parley's Trail Design & Constr 8417012 327,678$ -$ -$ 327,678$ Pioneer Park 8419150 3,052,938$ 574,411$ 1,128,751$ 1,349,776$ Playground Shade FY25CIP-3037-Playground Shade 500,000$ -$ -$ 500,000$ Pocket Park Community Space - Jake Garn FY25CIP-3037-Pocket Park Community Sp 330,000$ -$ -$ 330,000$ Poplar Grove Park Full Court Basketball FY24CIP-3037-Poplar Grove Park Full Cour 253,500$ -$ 8,182$ 245,319$ RAC Playground Phase II 8423405 521,564$ -$ -$ 521,564$ RAC Playground with Shade Sail 8422415 178,298$ -$ 63,456$ 114,842$ Redwood Meadows Park Dev 8417014 9,350$ -$ -$ 9,350$ Rich Park Comm Garden 8420138 12,431$ -$ -$ 12,431$ Riverside Park Pathway Loop FY25CIP-3037-Riverside Park Pathway Loo 530,000$ -$ -$ 530,000$ Rose Park Neighborhood Center 8423403 157,280$ -$ 157,280$ -$ Rosewood Dog Park 8417013 1,056$ -$ -$ 1,056$ SLC Foothills Land Acquisition 8422413 319,139$ -$ 14,175$ 304,964$ SLC Foothills Trailhead Develo 8422412 1,241,318$ -$ 112,726$ 1,128,592$ Street Futsal Courts 1:1 Match FY25CIP-3037-Street Futsal Courts 1:1 Ma 350,000$ -$ -$ 350,000$ Three Creeks West Bank New Par 8422403 150,736$ -$ -$ 150,736$ Trailhead Prop Acquisition 8421403 21,830$ -$ -$ 21,830$ UTGov Ph2 Foothill Trails 8420420 120,893$ -$ -$ 120,893$ Wasatch Hollow Improvements 8420142 431,860$ -$ 11,481$ 420,378$ Waterpark Redevelopment Plan 8421402 1,705$ 1,705$ -$ -$ Grand Total $685,449 8484002 12,723,823$ 8484003 Impact Fees (Page 2)CONTINUED from PG1 Data pulled 06/30/2025 AAA BBB CCC DDD = AAA - BBB - CCC Police Allocation Allocation YTD Remaining Values Description Cost Center 8423003 29,000$ -$ 1,540$ 27,460$ FY24B5A6-3035-Police Impact Fee Refunds 47,592$ -$ 801$ 46,791$ Grand Total 76,592$ -$ 2,341$ 74,251$ Streets Allocation Allocation Encumbrances YTD Expenditures Remaining Description Cost Center 8422622 35,300$ -$ -$ 35,300$ 8423602 252,000$ -$ 252,000$ -$ 8422602 37,422$ -$ 37,422$ -$ 8423606 40,000$ 40,000$ -$ -$ 8422611 90,000$ 22,576$ 2,424$ 65,000$ 8418016 22,744$ -$ -$ 22,744$ 8412001 11,703$ 5,546$ 6,157$ -$ D FY25CIP-3037-5th West Commons Conversation Center(s)50,000$ -$ -$ 50,000$ FY24B3A6-3038-600/700 North Reconstruction 3,204,371$ 3,204,371$ -$ -$ FY24CIP-3038-75-Year-Old Traffic Signal Replacement 40,000$ -$ -$ 40,000$ 8422604 28,000$ -$ 28,000$ -$ 8418003 181,303$ -$ 136,936$ 44,367$ 8420120 18,699$ -$ -$ 18,699$ 8422608 25,398$ -$ 25,398$ -$ FY24B5D9-3038-FY24 Street IF Refunds 75,000$ -$ -$ 75,000$ 8406001 15,169$ 12,674$ 836$ 1,659$ FY25B5A12-3038-2025 IFFP Amendment - Streets 20,000$ -$ -$ 20,000$ 8412002 124,593$ -$ -$ 124,593$ 8422614 104,500$ -$ -$ 104,500$ FY24CIP-3038-Safer Crossings: Main St., Glendale Park, and Citywide 90,000$ -$ 1,418$ 88,582$ 8421501 340,236$ -$ 53,109$ 287,127$ 8423608 110,000$ -$ 10,000$ 100,000$ FY24CIP-3038-Transit Capital for Frequent Transit Routes / Operational Investments-FY24 110,000$ -$ 513$ 109,488$ 8420110 46,883$ -$ (1,117)$ 48,000$ 8421500 241,135$ -$ 124,786$ 116,349$ 8422620 6,316$ -$ -$ 6,316$ FY24B5A7-3038-Update of the Streets IFFP - Unappropriated Transportation Impact Fees 30,183$ -$ -$ 30,183$ FY24B5A7-3038-Update of the Streets IFFP (Rescope 8419203)29,817$ -$ -$ 29,817$ 8422619 6,500$ -$ -$ 6,500$ Grand Total Values Sum of Budget-Amended Sum of Encum- brances Sum of YTD Expenditures E = A + B + C + D $16,722,109 UnAllocated Budget Amount 1,697,464$ 8484001 1,615,373$ 8484005 This page has intentionally been left blank ATTACHMENT #1 Job Title: Clerk of Court Job Code: FLSA: Exempt Pay Rate Type: Exempt Comp Grade: Management Level: Manager Classification: EEO Code: OFFICIALS_AND_ADMINISTRATORS - (EEO-4 Job Classification) Workers Comp Code: Job Family: Job Profile Summary Under the general direction of the Court Administrator, the Clerk of Court provides high-level administrative and operational leadership for the Salt Lake City Justice Court. This position oversees daily court functions, supervises staff, ensures procedural compliance, and assists with implementing strategic and policy initiatives established by the Court Administrator and the Bench. The Clerk of Court acts as a key member of court leadership, supporting judges, staff, and partners in advancing court operations, staff development, and access to justice initiatives. Job Description TYPICAL DUTIES: • Provides direct administrative support to the Bench and Court Administrator in achieving court wide goals and implementing policies and procedures. • Oversees daily operations across all court departments, ensuring compliance with state law, Judicial Council rules, and administrative standards. • Coordinates with judges, judicial assistants, clerks, bailiffs, and other staff to maintain consistent procedures and efficient case flow management. • Disseminates up to date information to staff regarding policy and procedure changes. • Supervises assigned personnel, including hiring, onboarding, training, establishing performance expectations, providing feedback, and addressing performance issues as needed. • Conducts performance management and training needs assessments; monitors and tracks training completion and effectiveness. • Schedules and monitors workloads to assure effective staff utilization and maximum output. • Represents the interests of the court with local community leaders including representatives of various state and local government agencies. • Serves as the primary administrator for internal learning and development systems, including the city’s performance management and learning management systems • Assists in developing and implementing administrative policies, operational procedures, and long-range strategic plans in collaboration with the Court Administrator. • Prepares reports, operational analyses, and data summaries for use in management decision- making and reporting. • Participates in planning and policy discussions with judicial leadership and represents the court in committees, task forces, and external collaborations. • Oversees or coordinates internal communication, employee recognition, service awards, and other engagement or staff development programs. • Ensures effective coordination of courtroom coverage and clerical support for all proceedings. • Maintains familiarity with and ensures compliance with the Utah Code of Judicial Administration, local ordinances, and applicable state and federal regulations. • Monitors and tracks relevant legislative changes and updates, providing guidance to judges and staff on impacts to court operations and procedures. • Performs other duties as assigned. MINIMUM QUALIFICATIONS: • Graduation from an accredited college or university with a bachelor’s degree in public administration, business administration, or a closely related field. Six (6) years of directly related experience, including supervisory and management experience, or any equivalent combination of education and experience. • Knowledge of court operations, personnel management, policy implementation, and administrative coordination. • Skill in leadership, supervision, and employee development. • Ability to plan, organize, and prioritize multiple tasks under tight deadlines. • Excellent written and verbal communication skills. • Strong analytical and critical thinking abilities for evaluating workflow and implementing process improvements. • Ability to establish and maintain cooperative working relationships with judges, staff, city departments, allied agencies, and the public. • Proficiency with technology, including Google Workspace, Microsoft Office Suite, and virtual collaboration platforms (e.g., Webex). • Commitment to professionalism, confidentiality, and ethical standards in all court operations. WORKING CONDITIONS: • Work performed in an office and courtroom setting under normal conditions of light, temperature, and sound. • Exposure to stress due to multiple projects, deadlines, and interactions with individuals in emotionally charged situations. • Requires occasional travel to meetings, training, or outreach sites. The above statements are intended to describe the general nature and level of work being performed by persons assigned to this job. They are not intended to be an exhaustive list of all duties, responsibilities and skills required of personnel so classified. All requirements are subject to possible modification to reasonably accommodate individuals with disabilities. • Additional Job Description POSITION TYPE Full-Time / Part-Time / Seasonal POSITION SALARY RANGE $ - $ DEPARTMENT XX This page has intentionally been left blank SALT LAKE CITY TRANSMITTAL To: Salt Lake City Council Chair Submission Date: 12/23/2025 Date Sent to Council: 12/24/2025 From: Department * Finance Employee Name: Hillier, Randy E-mail Randy.Hillier@slc.gov Department Director Signature Director Signed Date 12/23/2025 Chief Administrator Officer's Signature Chief Administrator Officer's Signed Date 12/24/2025 Subject: FY25 Budget Amendment #4 Additional Staff Contact: Greg Cleary, Mary Beth Thompson Presenters/Staff Table Greg Cleary: greg.cleary@slc.gov and Mary Beth Thompson: marybeth.thompson@slc.gov Document Type Ordinance Recommendation: The Administration recommends that subsequent to a public hearing, the City Council adopt the following amendments to the FY 2025 adopted budget Background/Discussion The Administration is requesting a budget amendment totaling $8,273,526 in expenses in the general fund. The amendment proposes changes in seven (7) funds, with a total revenue increase of $16,629,942 and a corresponding expenditure increase of $16,834,986. The proposal includes the addition of nine (9) general fund-funded positions. A summary spreadsheet outlining proposed budget changes is attached. The Administration requests this document be modiﬁed based on the decisions of the Council. Public Hearing Is there a City or State statutory requirement to hold a public hearing for this item?* Yes No The City Council reserves the option to hold and notice for a public hearing pursuant to their practices for public engagement. Does the City have a general practice to hold a public hearing for this item?* Yes No Public Process Public Hearing This page has intentionally been left blank SALT LAKE CITY ORDINANCE No. _____ of 2026 (Fourth amendment to the Final Budget of Salt Lake City, including the employment staffing document, for Fiscal Year 2025-2026) An Ordinance Amending Salt Lake City Ordinance No. 32 of 2025, which adopted the Final Budget of Salt Lake City, Utah, for the Fiscal Year Beginning July 1, 2025, and Ending June 30, 2026. In June of 2025, the Salt Lake City Council adopted the final budget of Salt Lake City, Utah, including the employment staffing document, effective for the fiscal year beginning July 1, 2025, and ending June 30, 2026, pursuant to the requirements of Utah Code section 10-6-118. The City’s Budget Director, acting as the City’s Budget Officer, prepared and filed with the City Recorder proposed amendments to said duly adopted budget, including the amendments to the employment staffing document necessary to effectuate the staffing changes specifically stated herein, copies of which are attached hereto, for consideration by the City Council and inspection by the public. All conditions precedent to amend said budget, including the employment staffing document as provided above, have been accomplished. Be it ordained by the City Council of Salt Lake City, Utah: SECTION 1. Purpose. The purpose of this Ordinance is to amend the final budget of Salt Lake City, including the employment staffing document, as approved, ratified and finalized by Salt Lake City Ordinance No. 32 of 2025. SECTION 2. Adoption of Amendments. The budget amendments, including amendments to the employment staffing document necessary to effectuate the staffing changes specifically stated herein, attached hereto and made a part of this Ordinance shall be, and the same hereby are adopted and incorporated into the budget of Salt Lake City, Utah, including the amendments to the employment staffing document described above, for the fiscal year beginning July 1, 2025, and ending June 30, 2026, in accordance with the requirements of Section 10-6-128 of the Utah Code. SECTION 3. Filing of copies of the Budget Amendments. The said Budget Officer is authorized and directed to certify and file a copy of said budget amendments, including amendments to the employment staffing document, in the office of said Budget Officer and in the office of the City Recorder which amendments shall be available for public inspection. SECTION 4. Effective Date. This Ordinance shall take effect upon adoption. Passed by the City Council of Salt Lake City, Utah, this ____ day of _____, 2026. Chris Wharton, Council Chair ATTEST: Keith Reynolds, City Recorder Transmitted to the Mayor on Mayor’s Action: Approved Vetoed Mayor Erin Mendenhall ATTEST: Keith Reynolds, City Recorder (SEAL) Bill No. ____ of 2026. Published Salt Lake City Attorney’s Office Approved As To Form Jaysen Oldroyd Jaysen Oldroyd This page has intentionally been left blank ATTACHMENT #1 Job Title: Clerk of Court Job Code: FLSA: Exempt Pay Rate Type: Exempt Comp Grade: Management Level: Manager Classification: EEO Code: OFFICIALS_AND_ADMINISTRATORS - (EEO-4 Job Classification) Workers Comp Code: Job Family: Job Profile Summary Under the general direction of the Court Administrator, the Clerk of Court provides high-level administrative and operational leadership for the Salt Lake City Justice Court. This position oversees daily court functions, supervises staff, ensures procedural compliance, and assists with implementing strategic and policy initiatives established by the Court Administrator and the Bench. The Clerk of Court acts as a key member of court leadership, supporting judges, staff, and partners in advancing court operations, staff development, and access to justice initiatives. Job Description TYPICAL DUTIES: • Provides direct administrative support to the Bench and Court Administrator in achieving court wide goals and implementing policies and procedures. • Oversees daily operations across all court departments, ensuring compliance with state law, Judicial Council rules, and administrative standards. • Coordinates with judges, judicial assistants, clerks, bailiffs, and other staff to maintain consistent procedures and efficient case flow management. • Disseminates up to date information to staff regarding policy and procedure changes. • Supervises assigned personnel, including hiring, onboarding, training, establishing performance expectations, providing feedback, and addressing performance issues as needed. • Conducts performance management and training needs assessments; monitors and tracks training completion and effectiveness. • Schedules and monitors workloads to assure effective staff utilization and maximum output. • Represents the interests of the court with local community leaders including representatives of various state and local government agencies. • Serves as the primary administrator for internal learning and development systems, including the city’s performance management and learning management systems • Assists in developing and implementing administrative policies, operational procedures, and long-range strategic plans in collaboration with the Court Administrator. • Prepares reports, operational analyses, and data summaries for use in management decision- making and reporting. • Participates in planning and policy discussions with judicial leadership and represents the court in committees, task forces, and external collaborations. • Oversees or coordinates internal communication, employee recognition, service awards, and other engagement or staff development programs. • Ensures effective coordination of courtroom coverage and clerical support for all proceedings. • Maintains familiarity with and ensures compliance with the Utah Code of Judicial Administration, local ordinances, and applicable state and federal regulations. • Monitors and tracks relevant legislative changes and updates, providing guidance to judges and staff on impacts to court operations and procedures. • Performs other duties as assigned. MINIMUM QUALIFICATIONS: • Graduation from an accredited college or university with a bachelor’s degree in public administration, business administration, or a closely related field. Six (6) years of directly related experience, including supervisory and management experience, or any equivalent combination of education and experience. • Knowledge of court operations, personnel management, policy implementation, and administrative coordination. • Skill in leadership, supervision, and employee development. • Ability to plan, organize, and prioritize multiple tasks under tight deadlines. • Excellent written and verbal communication skills. • Strong analytical and critical thinking abilities for evaluating workflow and implementing process improvements. • Ability to establish and maintain cooperative working relationships with judges, staff, city departments, allied agencies, and the public. • Proficiency with technology, including Google Workspace, Microsoft Office Suite, and virtual collaboration platforms (e.g., Webex). • Commitment to professionalism, confidentiality, and ethical standards in all court operations. WORKING CONDITIONS: • Work performed in an office and courtroom setting under normal conditions of light, temperature, and sound. • Exposure to stress due to multiple projects, deadlines, and interactions with individuals in emotionally charged situations. • Requires occasional travel to meetings, training, or outreach sites. The above statements are intended to describe the general nature and level of work being performed by persons assigned to this job. They are not intended to be an exhaustive list of all duties, responsibilities and skills required of personnel so classified. All requirements are subject to possible modification to reasonably accommodate individuals with disabilities. • Additional Job Description POSITION TYPE Full-Time / Part-Time / Seasonal POSITION SALARY RANGE $ - $ DEPARTMENT XX This page has intentionally been left blank Impact Fees (Page 1) Data pulled 04/30/2025 AAA BBB CCC DDD = AAA - BBB - CCC Fire Allocation Budget Amended Allocation Encumbrances YTD Expenditures Allocation Remaining Appropriation Budget Amount Values Description Cost Center 8484002 -$ -$ -$ -$ 8419202 3,079$ 3,021$ 3,021$ (2,963)$ 8423004 9,000$ -$ 1,540$ 7,460$ FY24B4A6-3036-Fire Station 1 Fencing 130,275$ -$ -$ 130,275$ B Grand Total Parks Allocation Budget Allocation Encumbrances YTD Expenditures Remaining Description Cost Center FY24CIP-3037-337 Park Development 550,000$ -$ -$ 550,000$ FY25CIP-3037-5th West Commons Conversation Center(s)50,000$ -$ -$ 50,000$ 8416005 1,733$ 855$ 1,733$ (855)$ 8423406 287,848$ 130$ 8,420$ 279,298$ 8420136 149,953$ -$ 162,067$ (12,114)$ FY25CIP-3037-Amplifying Our Jordan River Revitalization 1,300,000$ -$ -$ 1,300,000$ 8418005 262,043$ 262,043$ -$ -$ FY24CIP-3037-Cottonwood Park Trailhead and Parklet 648,000$ -$ -$ 648,000$ 8420424 240,239$ -$ 143,325$ 96,914$ 8418002 23,262$ -$ 19,638$ 3,624$ FY25CIP-3037-Equal Grounds Project (Calisthenics-Fitness Area)86,200$ -$ -$ 86,200$ FY25CIP-3037-Fairmont Park Basketball Court 678,600$ -$ -$ 678,600$ FY24CIP-3037-Fire Station No. 7 Tennis and Pickleball Court Restoration and Amenities 416,150$ -$ -$ 416,150$ 8421401 132,208$ 1,400$ 123,813$ 6,996$ FY FY25B1D15-3037-Folsom Trail Landscaping, Irrigation & Completing the Trail 1,000,000$ -$ -$ 1,000,000$ 8420430 125,740$ 66,901$ 58,839$ -$ 8423408 499,457$ -$ 5,511$ 493,946$ FY25B1D15-3037-Glendale Park Phase 2 Design & Construction 11,350,000$ 5,609,300$ 273,777$ 5,466,922$ 8423450 4,350,000$ 1,561,800$ 2,788,200$ -$ 8422406 2,246,982$ 1,228,956$ 1,018,027$ -$ 8422408 513,788$ 24,243$ 489,546$ 0$ C 8422410 315,770$ -$ 156,146$ 159,624$ 8420406 54,808$ -$ -$ 54,808$ 8423005 9,000$ -$ 1,540$ 7,460$ 8419103 6,398$ -$ -$ 6,398$ FY24CIP-3037-Jefferson Park Improvements 530,000$ -$ -$ 530,000$ 8420134 404,139$ 1,649$ 14,304$ 388,186$ 8422414 475,079$ 6,361$ 13,693$ 455,024$ 8417018 1,570$ -$ -$ 1,570$ 8417017 2,946$ -$ -$ 2,946$ FY25B1D15-3037-Liberty Park All Abilities Play Park & Playground 2,000,000$ -$ -$ 2,000,000$ 8423409 299,269$ -$ 220,000$ 79,269$ 8417011 60,928$ -$ 60,821$ 107$ 8423451 996,905$ -$ 429,207$ 567,698$ 8423407 864,449$ -$ -$ 864,449$ 8423452 450,000$ -$ 33,140$ 416,860$ 8423453 300,000$ -$ -$ 300,000$ Parks Bilingual Signage Installation FY24CIP-3037-Parks Bilingual Signage Installation 331,200$ -$ -$ 331,200$ Park's Consultant's Contract 8419204 2,638$ 2,596$ 2,596$ (2,554)$ Parley's Trail Design & Constr 8417012 327,678$ -$ -$ 327,678$ Pioneer Park 8419150 3,052,938$ 1,050,562$ 830,103$ 1,172,273$ Playground Shade FY25CIP-3037-Playground Shade 500,000$ -$ -$ 500,000$ Pocket Park Community Space - Jake Garn WFY25CIP-3037-Pocket Park Community Space - Jake Garn Way 330,000$ -$ -$ 330,000$ Poplar Grove Park Full Court Basketball Exp FY24CIP-3037-Poplar Grove Park Full Court Basketball Expansion 253,500$ -$ 8,182$ 245,319$ RAC Playground Phase II 8423405 521,564$ -$ -$ 521,564$ RAC Playground with Shade Sails 8422415 178,298$ 11,542$ 63,456$ 103,300$ Redwood Meadows Park Dev 8417014 9,350$ -$ -$ 9,350$ Rich Park Comm Garden 8420138 12,431$ -$ -$ 12,431$ Riverside Park Pathway Loop FY25CIP-3037-Riverside Park Pathway Loop 530,000$ -$ -$ 530,000$ Rose Park Neighborhood Center 8423403 157,280$ -$ 157,280$ -$ Rosewood Dog Park 8417013 1,056$ -$ -$ 1,056$ SLC Foothills Land Acquisition 8422413 319,139$ -$ 14,175$ 304,964$ SLC Foothills Trailhead Development 8422412 1,241,318$ 127,040$ 103,060$ 1,011,218$ Street Futsal Courts 1:1 Match FY25CIP-3037-Street Futsal Courts 1:1 Match 350,000$ -$ -$ 350,000$ Three Creeks West Bank New Park 8422403 150,736$ -$ -$ 150,736$ Trailhead Prop Acquisition 8421403 21,830$ -$ -$ 21,830$ UTGov Ph2 Foothill Trails 8420420 120,893$ -$ -$ 120,893$ Warm Springs & North Gateway Park FY25B1D15-3037-Warm Springs & North Gateway Park 1,000,000$ -$ -$ 1,000,000$ Wasatch Hollow Improvements 8420142 431,860$ 22,382$ 11,481$ 397,996$ Waterpark Redevelopment Plan 8421402 1,705$ 1,705$ -$ -$ Grand Total 9,160,648$ 8484003 $777,182 8484002 Impact Fees (Page 2)CONTINUED from PG1 Data pulled 04/30/2025 AAA BBB CCC DDD = AAA - BBB - CCC Police Allocation Allocation Encumbrances YTD Expenditures Allocation Remaining Appropriation Description Cost Center 8423003 9,000$ -$ 1,540$ 7,460$ FY24B5A6-3035-Police Impact Fee Refunds 47,592$ -$ -$ 47,592$ Grand Total Streets Allocation Budget Amended Allocation Encumbrances YTD Expenditures Allocation Remaining Appropriation Values Description Cost Center 8422622 35,300$ -$ -$ 35,300$ 8423602 252,000$ -$ 252,000$ -$ 8422602 37,422$ -$ 37,422$ -$ FY24B3A5-3038-2100 South Reconstruction (131,247)$ -$ (131,247)$ -$ 8423606 40,000$ 40,000$ -$ -$ 8422611 90,000$ 25,000$ -$ 65,000$ 8418016 22,744$ -$ -$ 22,744$ 8412001 11,703$ 5,685$ 6,018$ -$ D FY24B3A6-3038-600/700 North Reconstruction 3,204,371$ -$ -$ 3,204,371$ 8423305 (166)$ -$ (166)$ -$ FY24CIP-3038-75-Year-Old Traffic Signal Replacement 40,000$ -$ -$ 40,000$ 8422604 28,000$ -$ 28,000$ -$ 8418003 181,303$ -$ 136,936$ 44,367$ 8420120 18,699$ -$ -$ 18,699$ 8422608 25,398$ -$ 25,398$ -$ 8423625 (224,557)$ -$ (224,557)$ -$ 8406001 15,169$ 12,925$ 585$ 1,659$ 8412002 124,593$ -$ -$ 124,593$ 8422614 104,500$ -$ -$ 104,500$ FY24CIP-3038-Safer Crossings: Main St., Glendale Park, an 90,000$ -$ 1,418$ 88,582$ 8420125 (1,359,910)$ -$ (1,359,910)$ -$ 8421501 340,236$ -$ 53,109$ 287,127$ 8419008 (108,000)$ -$ (108,000)$ -$ 8420105 (200,000)$ -$ (200,000)$ -$ 8423608 110,000$ -$ 5,205$ 100,000$ FY24CIP-3038-Transit Capital for Frequent Transit Routes / 110,000$ -$ 513$ 109,488$ 8420110 46,883$ 11,820$ 5,480$ 29,583$ 8422620 6,316$ -$ -$ 6,316$ 8421500 241,135$ 2,558$ 118,188$ 120,388$ FY24B5A7-3038-Update of the Streets IFFP - Unappropriate 30,183$ -$ -$ 30,183$ FY24B5A7-3038-Update of the Streets IFFP (Rescope 8419 29,817$ 17,442$ -$ 12,374$ 8422619 6,500$ -$ -$ 6,500$ Grand Total Total E = A + B + C + D 15,372,660$ 3,799,855$ 8484005 UnAllocated Budget Amount 1,634,974$ 8484001 This page has intentionally been left blank DEPARTMENT OF FINANCE POLICY AND BUDGET DIVISION 451 SOUTH STATE STREET PO BOX 145467, SALT LAKE CITY, UTAH 84114-5455 ERIN MENDENHALL Mayor MARY BETH THOMPSON Chief Financial Officer CITY COUNCIL TRANSMITTAL ___________________________________ Date Received: _______________ Jill Love, Chief Administrative Officer Date sent to Council: __________ ______________________________________________________________________________ TO: Salt Lake City Council DATE: December 23, 2025 Chris Wharton, Chair FROM: Mary Beth Thompson, Chief Financial Officer SUBJECT: FY26 Budget Amendment #4 SPONSOR: NA STAFF CONTACT: Mary Beth Thompson, Greg Cleary DOCUMENT TYPE: Budget Amendment Ordinance RECOMMENDATION: The Administration recommends that subsequent to a public hearing, the City Council adopt the following amendments to the Fiscal Year 2026 adopted budget. BUDGET IMPACT: REVENUE EXPENSE GENERAL FUND $0.00 $8,245,928.00 FLEET FUND 1,581,719.00 1,581,719.00 CIP FUND 5,798,741.00 6,298,741.00 REFUSE FUND 8,918,482.00 0.00 GOLF FUND 250,000.00 250,000.00 IMS FUND 21,000.00 21,000.00 MISC GRANTS FUND 57,000.00 57,000.00 TOTAL $16,626,942.00 $16,454,388.00 BACKGROUND/DISCUSSION: Revenue for FY 2026 Budget Adjustments The chart below presents General Fund Projected Revenues for FY 2026. Based on revenue data across the first part of the fiscal year, it is projected that revenues will be realized at approximately $368,733 beyond the FY 2026 Adopted Budget. Revenue FY26 Annual Budget FY26 Amended Budget Projection Amended Variance Favorable/(Unfavorable) Property Taxes 148,580,334 148,580,334 148,580,334 - Sales, Use & Excise Taxes 126,026,000 126,026,000 126,000,000 (26,000) Franchise Taxes 17,220,000 17,220,000 17,339,305 119,305 Total Taxes 291,826,334 291,826,334 291,919,639 93,305 Charges For Services 6,821,820 6,821,820 5,056,754 (1,765,066) Fines & Forfeitures 3,085,827 3,085,827 3,074,937 (10,890) Interest Income 9,000,000 9,000,000 9,000,000 - Interfund Service Charges 34,569,169 34,569,169 34,574,395 5,226 Intergovernmental Revenue 6,205,000 6,205,000 6,073,983 (131,017) Licenses 21,847,694 21,847,694 22,024,495 176,801 Miscellaneous Revenue 3,838,663 3,838,663 3,808,672 (29,991) Parking Meter Revenue 3,273,255 3,273,255 3,956,050 682,795 Parking Tickets 2,200,000 2,200,000 2,200,000 - Permits 18,981,859 18,981,859 20,235,322 1,253,463 Property Sale Proceeds - - 24,741 24,741 Gain on Property Dispositions - - 272 272 Rental & Other Income 1,201,460 1,201,460 1,270,554 69,094 Operating Transfers In 24,780,192 24,780,192 24,780,192 - Total W/O Special Tax 135,804,939 135,804,939 136,080,367 275,428 Sales Tax Addition 1/2%58,000,000 58,000,000 58,000,000 - Total General Fund 485,631,273 485,631,273 486,000,006 368,733 The table below presents updated Fund Balance numbers and percentages, based on the proposed changes included in Budget Amendment #4. With the complete adoption of Budget Amendment #4, the available fund balance will remain at 11.10 percent of the FY 2026 Adopted Budget. For context, at budget adoption fund balance was at 12.93 percent. FOF GF Only TOTAL FOF GF Only TOTAL Beginning Fund Balance 27,841,978 146,448,554 174,290,532 14,931,953 78,854,192 93,786,145 Prior Year Encumbrances (3,547,119) (18,657,815) (22,204,934) - - - Estimated Beginning Fund Balance 24,294,859$ 127,790,739$ 152,085,598$ 14,931,953$ 78,854,192$ 93,786,145$ Beginning Fund Balance Percent 39.57%30.50%31.66%25.42%17.38%18.30% Year End ACFR Adjustments Revenue Changes Expense Changes (Prepaids, Receivable, Etc.) (3,188,435) (3,188,435) Fund Balance w/ ACFR Changes 24,294,859 124,602,304 148,897,163 14,931,953 78,854,192 93,786,145 Final Fund Balance Percent 39.57%29.74%30.99%25.42%17.38%18.30% Budgeted Change in Fund Balance (4,162,906) (36,664,442) (40,827,348) - (27,392,780) (27,392,780) Budget Amendment Use of Fund Balance BA#1 Revenue Adjustment 469,408 469,408 BA#1 Expense Adjustment (2,468,933) (2,468,933) (353,000) BA#2 Revenue Adjustment 102,000 102,000 BA#2 Expense Adjustment (3,407,524) (3,407,524) (913,000) (913,000) BA#3 Revenue Adjustment 3,904,861 3,904,861 BA#3 Expense Adjustment (3,959,861) (3,959,861) BA#4 Revenue Adjustment - - BA#4 Expense Adjustment - - (8,245,928) (8,245,928) BA#5 Revenue Adjustment 1,013,067 1,013,067 BA#5 Expense Adjustment (5,200,000) (4,736,688) (9,936,688) BA#6 Revenue Adjustment - BA#6 Expense Adjustment Change in Revenue Change in Expense Fund Balance Budgeted Increase Adjusted Fund Balance 14,931,953 78,854,192 93,786,145 14,931,953 42,302,484 56,881,437 Adjusted Fund Balance Percent 24.32%18.82%19.52%25.42%9.32%11.10% Projected Revenue 61,397,384 419,006,975 480,404,359 58,749,999 453,721,525 512,471,524 Salt Lake City General Fund TOTAL Fund Balance Projections FY2026 BudgetFY2025 Budget The Administration is requesting a budget amendment totaling $8,245,928 in expenses in the general fund. The amendment proposes changes in seven (7) funds, with a total revenue increase of $16,626,942 and a corresponding expenditure increase of $16,454,388. The proposal includes the addition of eight (8) general fund-funded positions. A summary spreadsheet outlining proposed budget changes is attached. The Administration requests this document be modified based on the decisions of the Council. The budget amendment is separated in eight different categories: A. New Budget Items B. Grants for Existing Staff Resources C. Grants for New Staff Resources D. Housekeeping Items E. Grants Requiring No New Staff Resources F. Donations G. Council Consent Agenda Grant Awards I. Council Added Items PUBLIC PROCESS: Public Hearing This page has intentionally been left blank Initiative Number/Name Fund Revenue Amount Expenditure Amount Revenue Amount Expenditure Amount Ongoing or One- time FTEs 1 Vehicle Replacement for Urban Services Division GF 0.00 (37,000.00)One-time - 1 Vehicle Replacement for Urban Services Division GF 0.00 37,000.00 One-time - 1 Vehicle Replacement for Urban Services Division Fleet 37,000.00 37,000.00 One-time - 2 Trailer for Facilities Division GF 0.00 (30,000.00)One-time - 2 Trailer for Facilities Division GF 0.00 30,000.00 One-time - 2 Trailer for Facilities Division Fleet 30,000.00 30,000.00 One-time - 3 Wildland Firefighting Expansion Funding GF 0.00 88,000.00 One-time/Ongoing - 4 Public Lands One-time Personal Services Budget Rescope for Equipment Purchases GF 0.00 (163,900.00)One-time - 4 Public Lands One-time Personal Services Budget Rescope for Equipment Purchases GF 0.00 163,900.00 One-time - 4 Public Lands One-time Personal Services Budget Rescope for Equipment Purchases Fleet 163,900.00 163,900.00 One-time - 5 Park Land Acquisition CIP 0.00 (405,000.00)One-time - 5 Park Land Acquisition CIP 0.00 405,000.00 6 Pedestrian Bridge Over the Surplus Canal at Glendale Golf Course GF 0.00 250,000.00 One-time - 6 Pedestrian Bridge Over the Surplus Canal at Glendale Golf Course Golf 250,000.00 250,000.00 One-time - 7 Moved to Housekeeping 8 Withdrawn Prior to Transmittal 9 Public Services Facilities Division: Old Library Immediate Facility Needs GF 0.00 195,000.00 One-time - 10 Backhoe for Public Services Streets Division & Tractor for Public Lands Parks Division GF 0.00 292,819.00 One-time - 10 Backhoe for Public Services Streets Division & Tractor for Public Lands Parks Division Fleet 292,819.00 292,819.00 One-time - 11 Old Library, Plaza 349 and Justice Courts Capital Improvements CIP 5,498,741.00 5,498,741.00 One-time - 11 Old Library, Plaza 349 and Justice Courts Capital Improvements GF 0.00 889,800.00 One-time - 12 Trailer for Public Services Streets Division GF 0.00 (58,000.00)One-time - 12 Trailer for Public Services Streets Division GF 0.00 58,000.00 One-time - 12 Trailer for Public Services Streets Division Fleet 58,000.00 58,000.00 One-time - 13 Funding for Gap in Homeless Resource Center Grant Funding for Salaries GF 0.00 292,833.00 Ongoing - 14 Police Overtime Funding in FY 2026 GF 0.00 3,810,941.00 One-time - 15 Police Retirements Cost GF 0.00 977,286.00 One-time - 16 Police Mobile Command Center GF 0.00 1,000,000.00 One-time - 16 Police Mobile Command Center Fleet 1,000,000.00 1,000,000.00 One-time - 17 Justice Court, City Prosecutor's Office and Legal Defenders Association (LDA) Staffing Increases GF 0.00 201,749.00 Ongoing 8.00 17 Justice Court, City Prosecutor's Office and Legal Defenders Association (LDA) Staffing Increases IMS 21,000.00 21,000.00 One-time - 18 Parking Wayfinding Signage GF 0.00 167,500.00 One-time - 19 Exhibit Space at the City County Building CIP 0.00 500,000.00 One-time - 1 Legislative Affairs Operations Funding GF 0.00 80,000.00 Ongoing - 2 Engineering Planning and Design Housekeeping and Rescope GF 0.00 (350,000.00)One-time - 2 Engineering Planning and Design Housekeeping and Rescope GF 0.00 350,000.00 One-time - 3 Refuse Fund Revenue Budget for Lease Agreement Refuse 8,918,482.00 0.00 One-time - 4 Community Events - Rescope GF 0.00 0.00 One-time - 5 Streets GO Bonds Interest Reallocation for FY 2025-26 CIP 0.00 (1,735,515.83)One-time - 5 Streets GO Bonds Interest Reallocation for FY 2025-27 CIP 0.00 1,735,515.83 One-time - Fiscal Year 2025-26 Budget Amendment #4 Council ApprovedAdministration Proposed Section A: New Items Section D: Housekeeping Section C: Grants for New Staff Resources Section B: Grants for Existing Staff Resources 1 Fiscal Year 2025-26 Budget Amendment #4 6 California Avenue Safety Improvements Rescope CIP 0.00 0.00 One-time - 7 CPTED Streetlight – GF to CIP Transfer CIP 300,000.00 300,000.00 One-time Section E: Grants Requiring No New Staff Resources 1 Trail Maintenance for Salt Lake City Portion of the Jordan River Trail Misc Grants 57,000.00 57,000.00 One-time - Consent Agenda Total of Budget Amendment Items 16,626,942.00 16,454,388.00 0.00 0.00 8.00 Initiative Number/Name Fund Revenue Amount Expenditure Amount Revenue Amount Expenditure Amount Ongoing or One- time FTEs Total by Fund, Budget Amendment #4: General Fund GF 0.00 8,245,928.00 0.00 0.00 8.00 Fleet Fund Fleet 1,581,719.00 1,581,719.00 0.00 0.00 CIP Fund CIP 5,798,741.00 6,298,741.00 0.00 0.00 Refuse Collection Fund Refuse 8,918,482.00 0.00 0.00 0.00 Golf Fund Golf 250,000.00 250,000.00 0.00 0.00 IMS Fund IMS 21,000.00 21,000.00 0.00 0.00 Misc Grants Fund Misc Grants 57,000.00 57,000.00 0.00 0.00 - Total of Budget Amendment Items 16,626,942.00 16,454,388.00 0.00 0.00 8.00 Administration Proposed Council Approved Section I: Council Added Items Section F: Donations Section G: Council Consent Agenda -- Grant Awards 2 Fiscal Year 2025-26 Budget Amendment #4 Current Year Budget Summary, provided for information only FY 2025-26 Budget, Including Budget Amendments FY 2025-26 Adopted Budget BA #1 Total BA #2 Total BA #3 Total BA #4 Total BA #5 Total Total Revenue General Fund (FC 100)453,721,525 0.00 - - 453,721,525.09 Debt Service Fund (FC 101)30,514,822 30,514,822.00 Other Improvement Fund (FC 150)3,000 3,000.00 Capital Improvement Fund (FC 300)41,675,084 12,206,670.04 5,798,741.00 59,680,495.04 Water Utility Fund (FC 400)192,010,432 51,079,400.00 243,089,832.00 Sewer Utility Fund (FC 410)357,160,859 357,160,859.00 Stormwater Utility Fund (FC 420)25,327,969 2,000,000.00 27,327,969.00 Street Lighting Utility Fund (FC 430)5,874,881 5,874,881.00 Department of Airports Fund (FC 540)606,598,500 - 606,598,500.00 Fleet Management Fund (FC 610)23,925,700 - 1,581,719.00 25,507,419.00 Risk Management Fund (FC 620)69,846,524 69,846,524.37 Governmental Immunity Fund (FC 630)4,529,865 4,529,865.00 Information Mgt Serv Fund (FC 650)43,052,934 50,000.00 21,000.00 43,123,934.00 Local Building Authority Fund (FC 660)1,172,525 1,172,525.00 Refuse Collection Fund (FC670)25,469,123 8,918,482.00 34,387,605.00 Golf Fund (FC 680)14,156,634 250,000.00 14,406,634.00 Housing and Loan Fund (FC 690)14,082,500 14,082,500.00 CDBG Fund (FC 710)4,885,779 4,885,779.00 Miscellaneous Grants Fund (FC 720)12,714,477 3,490,212.72 4,139,704.89 57,000.00 20,401,394.61 Demolition Weed and Forfeiture (FC 730)4,365,000 4,365,000.00 Emergency 911 Dispatch (FC 750)4,295,000 4,295,000.00 Downtown Alliance Fund (FC 760)1,700,000 2,500,000.00 4,200,000.00 Donations Fund (FC 770)500,000 500,000.00 Funding Our Future Fund (FC 780)58,749,999 58,749,999.00 Transportation Fund (FC 785)14,332,500 14,332,500.00 DEA Taskforce (FC 901)1,159,208 1,159,207.61 Community Reinvestment Agency Fund (FC 920)86,036,232 86,036,232.00 Sports Arena Fund (FC 740)79,512,660 79,512,660.00 Emergency Loan Program Fund - 273,000.00 Total of Budget Amendment Items 2,177,373,732 273,000.00 71,326,282.76 4,139,704.89 16,626,942.00 - 2,269,466,661.72 3 Fiscal Year 2025-26 Budget Amendment #4 Total Expense BA #1 Total BA #2 Total BA #3 Total BA #4 Total BA #5 Total Total Expense General Fund (FC 100)464,359,952 353,000.00 913,000.00 8,245,928.00 473,871,880.26 Debt Service Fund (FC 101)36,589,783 36,589,783.00 Other Improvement Fund (FC 150)3,000 3,000.00 Capital Improvement Fund (FC 300)48,175,084 16,339,140.04 6,298,741.00 70,812,965.04 Water Utility Fund (FC 400)216,611,815 66,849,851.00 283,461,666.00 Sewer Utility Fund (FC 410)159,022,034 12,083,142.00 171,105,176.00 Stormwater Utility Fund (FC 420)26,465,800 7,349,551.00 33,815,351.30 Street Lighting Utility Fund (FC 430)8,418,357 1,327,234.00 9,745,591.00 Department of Airports Fund (FC 540)476,954,577 100,000.00 477,054,577.00 Fleet Management Fund (FC 610)23,735,252 13,202,498.00 1,581,719.00 38,519,469.00 Risk Management Fund (FC 620)69,846,524 69,846,524.37 Governmental Immunity Fund (FC 630)4,302,013 94,791.00 4,396,804.00 Information Mgt Serv Fund (FC 650)43,052,934 2,451,295.18 21,000.00 45,525,229.18 Local Building Authority Fund (FC 660)1,172,525 1,172,525.00 Refuse Collection Fund (FC670)29,357,332 9,350,559.00 - 38,707,891.00 Golf Fund (FC 680)26,570,200 957,404.00 250,000.00 27,777,604.00 Housing and Loan Fund (FC 690)14,082,500 14,082,500.00 CDBG Fund (FC 710)4,885,779 4,885,779.00 Miscellaneous Grants Fund (FC 720)12,714,477 3,490,212.72 4,139,704.89 57,000.00 20,401,394.61 Demolition Weed and Forfeiture (FC 730)4,365,000 4,365,000.00 Emergency 911 Dispatch (FC 750)9,646,688 9,646,688.00 Downtown Alliance Fund (FC 760)1,700,000 2,500,000.00 4,200,000.00 Donations Fund (FC 770)500,000 500,000.00 Funding Our Future Fund (FC 780)48,111,572 48,111,571.83 Transportation Fund (FC 785)15,106,833 15,106,833.00 DEA Taskforce (FC 901)1,159,208 1,159,207.61 Community Reinvestment Agency Fund (FC 920)86,036,232 86,036,232.00 Sports Arena Fund (FC 740)79,512,660 79,512,660.00 - Total of Budget Amendment Items 1,912,458,131 353,000.00 137,008,677.94 4,139,704.89 16,454,388.00 - 2,070,413,902.20 4 Fiscal Year 2025-26 Budget Amendment #4 Finance Department City Council Office Contingent Appropriation / Notes 5 This page has intentionally been left blank Salt Lake City FY 2025-26 Budget Amendment #4 Initiative Number/Name Fund One-time or Ongoing Amount 1 Section A: New Items A-1: Vehicle Replacement for Urban Services Division GF One-time ($37,000.00) GF One-time $37,000.00 Fleet One-time $37,000.00 Department: Public Services Prepared By: JP Goates, Julie Crookston, Kimberley Schmeling For questions, please include Jorge Chamorro, JP Goates, Julie Crookston and Kimberley Schmeling In April 2025, a compliance enforcement officer was involved in an accident that led to the total loss of one of the division's Chevy Bolt vehicles. There were no other vehicles involved; the officers swerved to avoid hitting an animal in the roadway. Since the City is self-insured, Urban Services is fully responsible for the replacement cost of the vehicle. Since the accident, the division has been using bikes in warmer weather but will need to use a loaner vehicle from the Fleet Division once bike season ends. However, this is a temporary fix. To re gain full operational capacity, the Urban Services Division is proposing transferring $37,000 from its operational budget to the Fleet Division to purchase a new Chevy Bolt. This new vehicle is essential for the division's operations, as it will replace th e lost asset and help maintain enforcement efficiency and revenue generation. A-2: Trailer for Facilities Division GF One-time ($30,000.00) GF One-time $30,000.00 Fleet One-time $30,000.00 Department: Public Services Prepared By: JP Goates, Riley Bird, Kimberley Schmeling For questions, please include Jorge Chamorro, JP Goates, Riley Bird and Kimberley Schmeling When the division of Urban Services was created in FY 2026, personnel and equipment were moved from the Facilities division to Urban Services division. A drop-down trailer, previously an asset of the Facilities team used to move large equipment, including two scissor lifts, was no longer available for maintena nce and repair work completed by the staff in that division. An increase in workload related to the Clean City initiative at Urban Services means the trailer is in use full-time by that team. A drop-down trailer is the safest and most efficient way to move critical large equipment. Without it, operations are delayed and safety risks increase. Leasing a trailer is not a practical alternative as equipment is moved daily and is an ongoing need. The Division of Facilities Services is seeking to transfer funds from their operating budget to Fleet to purchase the trailer needed. No new funds are being requested. A-3: Wildland Firefighting Expansion Funding GF One-time/ Ongoing $88,000.00 Department: Fire Prepared By: Chief Lieb, Brittany Blair For questions, please include Chief Lieb and Brittany Blair The Fire Department is requesting funding to support the expanding needs of our wildland firefighting program, as wildfire risk increases and conditions continue to change in the region. According to the National Interagency Fire Center based in Boise, ID, the total number of wildfires nationwide have increased significantly over the last five years. These fires range from human caused, to natural caused, to cause undetermined. The contributing factors for wildland fires are the increase in urban centers pushing up against wildland urban interface areas, such as the east and north benches in SLC, water content in the fuels, environmental temperatures, humidity, and wind speed. The current request totals $88,000 for the remainder of this fiscal year, $75,000 of which will be ongoing costs (see the table below). These funds will cover the days of increased staffing during 2025 for periods of extreme fire weather during July through October, increased wildland training requirements, additional personal protective equipment (PPE), tools, such as hoses, nozzles and hand tools, and the replacement of aging Bendix King radios, which are over ten years old and no longer manufactured. The Bendix King radios are the standard radio used in wildland operations and are essential for the firefighting teams to communicate and coordinate on-scene with our state and regional partners during an event. Salt Lake City FY 2025-26 Budget Amendment #4 Initiative Number/Name Fund One-time or Ongoing Amount 2 The ongoing request also supports anticipated annual upstaffing needs driven by increasing red flag days, recurring PPE purchases, further equipment replacement due to loss or damage, expanded wildland training, and ongoing radio maintenance and replacement. Category Personnel FY26 Request $25,000 Ongoing Request $40,000 PPE Equipment $28,000 $25,000 Radios $35,000 $10,000 Total $88,000 $75,000 A-4: Public Lands One-time Personal Services Budget Rescope for Equipment Purchases GF One-time ($163,900.00) GF One-time $163,000.00 Fleet One-time $163,900.00 Department: Public Lands Prepared By: Gregg Evans For questions, please include Gregg Evans The Public Lands Department is requesting to rescope $163,900 in existing FY 2026 personnel budget which, if approved, will be transferred to the Fleet Fund as one-time funding for the purchase of capital equipment. The funds being requested for this transfer to Fleet were generated from attrition and vacancy savings from the first half of this fiscal year. Savings are generated throughout the fiscal year from positions remaining vacant during the typical hiring process, especially when there is difficulty in hiring some positions. The Department continually tracks the duration of all vacancies to calculate the estimated savings. The Department is proposing to use the one-time funds to purchase the equipment detailed below. • $50,300 - Kubota RTV Utility Vehicle, this new unit will support the ongoing watering of newly planted trees throughout the maintenance district 2 area. Currently, staff are using a 1 -ton dump truck for tree watering, adding this vehicle will free up a 1-ton truck in District 2 used for watering trees to be repurposed to the detail (rag) crew in District 2. • $47,500 - Toro Dingo to replace stolen trencher (Unit # 81510) with a new trencher. • $15,600 – Aerator, the new aerator requested will help prevent soil compaction in high-use common and spectator areas at the Regional Athletic Complex (RAC). Currently, the RAC does not own an aerator and has relied on borrowing the Parks Department’s unit for more than five years. The current unit will be repurposed to perform turf aeration on park properties throughout the City. • $50,500 - Caterpillar model 302 C3 small excavator for trail repairs and maintenance. The primary purpose of this new machine will be in-house trail construction and maintenance performed by the Trails Team. Currently, all machine work on trails is either contracted out with variable results or completed using rented equipment at a cost of approximately $4,000 per month. The Trails Team now has an experienced machine operator on staff with six years of trail construction and maintenance experience, allowing this work to be completed internally with greater consistency and higher quality results. In addition, this excavator would also support restoration projects, fire mitigation efforts, and vegetation management across Natural Lands properties. Salt Lake City FY 2025-26 Budget Amendment #4 Initiative Number/Name Fund One-time or Ongoing Amount 3 A-5: Park Land Acquisition CIP One-time ($405,000.00) CIP One-time $405,000.00 Department: Public Lands Prepared By: Gregg Evans For questions, please include Gregg Evans The Public Lands Department in coordination with Real Estate Services is requesting a budget amendment in the amount of $405,000 that will utilize Parks Impact Fees to fund the acquisition of 1.09 acres of open space. ***This item will require a closed session to discuss th is confidential land acquisition*** A-6: Pedestrian Bridge Over the Surplus Canal at Glendale Golf Course GF One-time $250,000.00 Golf One-time $250,000.00 Department: CAN Prepared By: Mark Stephens, Dawn Valente For questions, please include Mark Stephens, Dawn Valente and Tammy Hunsaker The United States Army Corps of Engineers (USACE) and Salt Lake County Flood Control (SLCoFC) identified multiple unpermitted encroachment violations along the Surplus Canal located within the geographic boundaries of Salt Lake City. Resolution of these encroachment violations were shared between SLC Public Utilities, SLC Engineering and the SLC Airport. One of the major encroachment violations assigned to SLC Engineering was the permitting and erosion control of an existing, previously constructed pedestrian bridge at the Glendale Golf Course spanning the Surplus Levee Canal. The above-mentioned USACE design review process and approvals have taken years, and until recently Engineering did not know when the final USACE would be approved. Now that the USACE has provided approval, project bidding and construction is considered urgent, and as such, obtaining funding through a budget amendment process has been deemed the best approach in lieu of waiting for the next Capital Asset Planning process. The $250,000 requested in this amendment is to cover construction costs associated with installing the erosion control rip-rap revetment under the existing bridge surrounding the piles driven into the canal that support the bridge structure above. USACE requires the placement of this revetment t o treat existing erosion and to prevent further erosion around the pedestrian bridge piles that support the structure. This will also ensure and protect the structural integrity of the Surplus Canal banks. Increases to flood insurance costs could be incurred by surrounding residents and businesses if the City does not address this violation. Part of the reason for the emergency is that as the Federal Emergency Management Agency (FEMA) updates their Flood Insurance Rate Maps (FIRM) based on levee conditions reported by USACE, any lacking levee deficiency , such as the one to be rectified by the proposed project, poses the risk for flood insurance rates to be increased for those properties, homes and businesses protected by the levee. A-7: Moved to Housekeeping as D-6 A-8: Withdrawn Salt Lake City FY 2025-26 Budget Amendment #4 Initiative Number/Name Fund One-time or Ongoing Amount 4 A-9: Public Services Facilities Division: Old Library Immediate Facility Needs GF One-time $195,000.00 Department: Public Services Prepared By: JP Goates, Josh Lander, Kimberley Schmeling For questions, please include Jorge Chamorro, JP Goates, Josh Lander and Kimberley Schmeling Maintenance activities began in September of this year with miscellaneous repairs for The Leonardo, but when the building was vacated by the tenant and turned over to the City, activities have ramped up and have included but have not been limited to: - grounds maintenance, - repairs to doors, plumbing, electrical and mechanical systems, - janitorial and moving services, and - security. Work on these items needs to continue at a minimum to keep the building functional and secure. Public Services is requesting $195,000 to continue maintenance and security efforts. The largest of these expenses will be $130,000 for security access and camera installations; the remaining funding will be for the maintenance expenses listed above. Security updates have been deemed necessary because the building’s existing access control system is outdated and in need of repair. In addition, the city no longer has licensing for Mellennium, which means City badges cannot be programmed to work with the existing system. Also, since this is a City building, the City’s Security Director has requested that cameras be installed to monitor the site. A-10: Backhoe for Public Services Streets Division & Tractor for Public Lands Parks Division GF One-time $292,819.00 Fleet One-time $292,819.00 Department: Public Services Prepared By: Julie Crookston, Kimberley Schmeling For questions, please include Jorge Chamorro, Julie Crookston and Kimberley Schmeling Two assets -- one in Public Lands and one in Streets -- have recently experienced severe and unrepairable breaks. Public Lands Tractor – This asset had a catastrophic break occur recently. It will cost about $7,000 to repair. However, prior to the break the estimated value of the asset was no more than $1,000 due to its age and continued heavy use. The tractor was originally purchased in 2008 and has been eligible for replacement since August 2023. Due to volume of assets needing replaced, both in Public Lands and throughout the City, replacement of other older or more critical assets have taken priority. Of the 52 assets Public Lands needed replaced, this tractor was originally 37 th on the list in order of seniority. Fleet and Public Lands have now determined this tractor needs to be replaced as soon as possible, rather than waiting for the FY 2027 replacement cycle. Parks District 1 (serving Pioneer Park, Riverside Park, Cottonwood Park, etc.) uses this asset heavily since it has many different attachments which allow it to be used for a variety of tasks. For example, it is used in the spring as a seed spreader and fertilizer. In the fall, it is used as a leaf collector, leaf blower, and a sweeper. In the summer it functions as a backup mower. There are no rental options available for this type of tractor. It is imperative this asset is replaced with one that is compatible with all the attachments we already own. Fleet has committed all of the FY 2026 replacement funding and is unable to cover the cost of replacing this asset. Likewise, Public Lands does not have enough projected end-of-year savings to cover the cost. The cost of replacing the tractor is $55,819. The lead time for this asset is a minimum of three months . Streets Backhoe – This asset also suffered a catastrophic break. The current estimated value of the backhoe prior to the break was about $27,000. The repairs needed are estimated to cost over $40,000, and due to the nature of the required repairs, it is likely there will continue to be repair issues with this asset even after the repairs. As such, it is not economical to repair the backhoe. Salt Lake City FY 2025-26 Budget Amendment #4 Initiative Number/Name Fund One-time or Ongoing Amount 5 This asset was not projected to be eligible for replacement until 2027. After review, it was determined there was no abuse by the users, and the asset was being used appropriately and for its intended purpose. This asset is heavily utilized, creating a large amount of wear and tear. It has been operated by the concrete crews as they repair concrete throughout the City and is vital to their work excavating damaged concrete prior to pouring new concrete. This asset needs to be replaced as soon as possible rather than waiting for the FY 2027 replacement cycle. There are no rental options available for this exact size, and a smaller backhoe would greatly decrease efficiency of the team, creating a reduction of service. Fleet has committed all FY 2026 replacement funding and is unable to cover the cost of replacing this asset. Likewise, Streets does not have enough projected end-of-year savings to cover the cost. The cost of replacing the backhoe is $237,000. In the backup documentation quotes for both assets are provided. Public Services is also requesting a straw poll for this BA, to allow the orders to be placed as soon as possible, and thus delivered as quickly as possible. A-11: Old Library, Plaza 349 and Justice Courts Capital Improvements CIP One-time $5,498,741.00 GF One-Time 889,800.00 Department: Public Services Prepared By: Jorge Chamorro, JP Goates, Kimberley Schmeling For questions, please include Jorge Chamorro, JP Goates and Kimberley Schmeling To support internal growth, with the most pressing one being the addition of a new judge and their supportive staff at the Justice Courts building, and to address space constraints in several City offices, the City plans to reinvest in three key facilities: the Old Library, Plaza 349 and Justice Courts. This initiative may include completing essential infrastructure upgrades (elevators, HVAC, etc.) at the Old Library (former Leonardo museum), converting into a mixed-use space including City offices on the third floor and classrooms, meeting, and gallery space on the second floor, and additional administrative offices on the first floor. It also includes addressing aging systems at Plaza 349 and supporting the relocation of certain Justice Courts staff. This will allow time for the City to explore alternatives to adequately house the Justice Courts. The Department intends to utilize the interest accrued from the tax-exempt bond. Upon review, it has been determined that the above-mentioned project costs are eligible to be covered by bond interest proceeds. The Architectural team has prepared a high-level estimate of $5,498,741. The project includes interior renovations to accommodate the Justice Courts ($300,000), critical repairs to the elevators ($250,000), storm dr ainage ($36,000), and tech ($75,000). Permits will cost $45,000. Design, engineering and project management ($822,941), and construction/general contracting, and contingencies ($3,080,000) make up the bulk of the expense. Furniture, fixtures and equipment (FF+E) expenses ($889,800) round out the budget. The FF+E will not be included in bond interest financing and will be supported by General Fund Fund Balance. A-12: Trailer for Public Services Streets Division GF One-time ($58,000.00) GF One-time $58,000.00 Fleet One-time $58,000.00 Department: Public Services Prepared By: Julie Crookston, James Aguilar, Kimberley Schmeling For questions, please include Jorge Chamorro, Julie Crookston, James Aguilar and Kimberley Schmeling A trailer used by the Streets division in Public Services has suffered a permanent break. The metal frame has cracked and is unrepairable. This trailer is a critical piece of equipment used by Streets' asphalt crews to haul equipment to roadways when they are performing more robust asphalt repairs, such as repairing larger than normal potholes and doing inlays. This asset was not projected to be eligible for replacement until 2027. After a review it was determined there was no abuse by the users, and the asset was being used appropriately and for its intended purpose. This asset is heavily utilized, Salt Lake City FY 2025-26 Budget Amendment #4 Initiative Number/Name Fund One-time or Ongoing Amount 6 thus creating a large amount of wear and tear. Fleet has committed all the FY 2026 replacement funding and is unable to cover the cost of replacing this asset this year. Streets is currently projected to have enough end -of-year savings to cover the cost of replacing this trailer. This amendment is to transfer $58,000 from Streets to Fleet cover the cost of replacing the asset. A-13: Funding for Gap in Homeless Resource Center Grant Funding for Salaries GF Ongoing $292,833.00 Department: Police Prepared By: David Pond, Shellie Dietrich For questions, please include Chief Redd, Shellie Dietrich and David Pond Budget for HRC mitigation officer salary portion not covered by the State HRC grant $292,833. The amount of funding awarded for the FY 2026 HRC mitigation grant to cover the 19.0 employees is $2,735,048 which was a reduction of $210,909 from FY 2025 funded at $2,945,957. The total estimated personnel cost is $3,027,881 requiring a budget of $292,833 for FY 2026 general fund. The existing funding provides for 19 FTE's, which is three squads and a supervising Lieutenant. To maintain functionality at the Homeless Resource Center, Police needs to keep staffing at this level. A-14: Police Overtime Funding in FY 2026 GF Ongoing $3,810,941.00 Department: Police Prepared By: David Pond, Shellie Dietrich For questions, please include Chief Redd, Shellie Dietrich and David Pond The police department is requesting additional funding to cover overtime expense. This cost is currently budgeted at $3,993,611 and the department does not have anticipated vacancy savings to cover overtime. The total overtime in FY 2026 is not expected to reach the FY 2025 total cost of $8,244,009 but is trending at the FY 2024 actuals of $7,804,990. The police department utilizes overtime to manage shift coverage in the heavy summer months, provide mitigation, proactive enforcement, and staff special events. In FY 2025, the department had an overtime budget of $6 ,886,430 and utilized vacancy savings to cover the additional costs above budget. This year the department does not anticipate vacancy savings and is requesting additional budget of $3,810,941. With the changes in the department organization structure, staff, and staffing levels; the department is working to make long-term improvements to reduce the need for overtime at this level. This will take time, and this budget item is a one- time request with the intention to support the remainder of FY 2026. The police department is requesting additional funds to cover overtime. Ongoing: $2,493,611 Funded in MRB: $1,500,000 FY 26 Budget $3,993,611 FY 26 Expense to date: $3,301,926 FY 26 Trending $7,804,553 FY 26 additional funds needed $3,810,941 Salt Lake City FY 2025-26 Budget Amendment #4 Initiative Number/Name Fund One-time or Ongoing Amount 7 A-15: Police Retirements Cost GF One-time $977,286.00 Department: Police Prepared By: David Pond, Shellie Dietrich For questions, please include Chief Redd, Shellie Dietrich and David Pond The police department is requesting additional funding to cover retirement payouts. This cost is not currently budgeted, and the department does not have anticipated vacancy savings to cover this cost. Personnel costs for Retirement and severance: Retirement and Severance Payout Amount through 10/31 $805,286 Known Pending Retirements through 1/31/2026 $172,000 Total $977,286 A-16: Police Mobile Command Center GF One-time $1,000,000 Fleet One-time $1,000,000 Department: Police Prepared By: David Pond, Shellie Dietrich For questions, please include Chief Redd, Shellie Dietrich and David Pond A mobile command center is needed by the police department to manage on scene response and presence at natural disasters, large scale events, events with long durations, special events and protests. A lead time of 1 year requires budget in FY 2026 to facilitate delivery and availability for large events scheduled for Early 2027. Mobile Command Center (MCC) - The police department is requesting one-time funding to acquire a mobile command center. The estimated cost is $1,000,000. This funding request seeks support for the acquisition of a Mobile Command Center (MCC) to significantly improve the operational capabilities the Police Department. The MCC will serve as a critical asset in managing emergencies, coordinating multi-agency responses, and ensuring public safety during high-risk incidents and large-scale events. The investment aligns with city and state priorities for public safety, emergency preparedness, community resilience and the Public Safety Plan. Our jurisdiction faces a growing number of complex public safety challenges, including: • Natural disasters (earthquakes, wildfires, floods, severe weather) • Mass casualty incidents and active shooter events • Large public gatherings and civil disturbances • Infrastructure failures and cybersecurity threats Having a MCC will provide the tools necessary to meet those challenges and: • Enhance emergency response times and coordination. • Improve situational awareness and decision-making during critical incidents. • Provide a secure and centralized location for command operations. • Increase community engagement and visibility during public events. • Increase public confidence in law enforcement preparedness. Currently, Salt Lake City Police lacks a mobile, self-sufficient platform to coordinate field operations during such events. The police department had a motorhome which was recently disposed of by fleet that was purchased used in 2001 that hasn’t been functional or operable for a year. As a result, the department relies on neighboring local or state agencies for use of a command center during critical incidents. While the fire department has a mobile command center, in a major response to a disaster, critical incident or major event, both departments will need on-scene command capabilities to Salt Lake City FY 2025-26 Budget Amendment #4 Initiative Number/Name Fund One-time or Ongoing Amount 8 manage resources and response. This request ensures both departments can operate independently and effectively during major incidents. This gap limits our ability to respond swiftly, communicate effectively, and manage resources efficiently in dynamic environments. The Mobile Command Center represents a strategic investment in public safety infrastructure. With support for funding, the Police Department will be better equipped to protect lives, property, and critical infrastructure during emergencies and high-risk events. The Police Department respectfully requests consideration for funding to support this vital initiative. A-17: Justice Court, City Prosecutor's Office and Legal Defenders Association (LDA) Staffing Increases GF Ongoing $201,749.00 IMS One-time $21,000.00 Department: Justice Court / Attorney’s Office Prepared By: Ben Luedtke For questions, please include Ben Luedtke, Cindy Lou Trishman, Mark Kittrell, Kathryn Fairchild Justice Court, City Prosecutor's Office, and Legal Defenders Association (LDA) Staffing Increases ($201,749 from General Fund Balance of which $174,220 is ongoing for personnel, $6,529 is ongoing for Justice Court operations, and $21,000 is one-time to the IMS Fund for computers) The Administration is proposing funding to add a total of 11 FTEs across the three offices including four FTEs at the Justice Court, four FTEs at the City Prosecutor’s Office, and funding for three FTEs at the LDA (who are not City employees). If this item is approved as proposed plus a sixth judge, then the FY2027 annual budget would need $1,554,826 to cover the fully loaded annual costs. Details of the proposed positions and costs are provided below and grouped by each of the three offices. Simultaneously adding staff capacity in all three offices to address increasing workload is the recommended approach because there are multiple interdependencies between the offices. Since annual budget deliberations in the spring, case filings continued to grow especially for criminal cases and criminal hearings which have exceeded pre-pandemic levels. The additional staff proposed would reduce workload per employee to support service levels. Sixth Justice Court Judge It’s important to note that funding for a sixth judge is not included in this budget amendment because the appointment process is estimated to take six months and would exceed the current fiscal year period. The Administration is requesting the Council’s approval for a sixth judge, FTE to begin the hiring and appointment process. Funding for a sixth judge would be included in the FY2027 annual budget and has a fully loaded estimated cost of $266,447. Earlier this year, in August the Administration recommended and in October the Council adopted an ordinance amendment to City Code Chapter 2.84 to allow future expansion of judgeships at the Justice Court including a sixth judge. The State Judicial Council also authorized a sixth judge at the City’s Justice Court. Per City Code, the Mayor appoints a Justice Court judge, and they are then confirmed by the City Council. Per Utah Code, justice court judges serve for a six-year term. A total of $112,714 to the Justice Court The Justice Court is proposed to receive $97,185 for three new FTEs, $9,000 for three computers, and $6,529 for increased operating costs to mostly cover more interpreters and several smaller expenses. The total number of FTEs in the Justice Court would increase to 48 FTEs (9% increase including the sixth judge). If all the positions and operational costs are approved including a sixth judge, then the FY2027 annual budget would need $630,411. - $50,891 ongoing to cover four months of a new Clerk of Court which is a new position at the Justice Court (see the attached HR approved job description), and $3,000 one-time for a computer. The fully loaded annual cost of the position is estimated at $152,672. This position would function like a department deputy director which the Justice Court does not currently have. Salt Lake City FY 2025-26 Budget Amendment #4 Initiative Number/Name Fund One-time or Ongoing Amount 9 - $46,294 ongoing to cover three months for two direct support Judicial Assistants Level 2 ($23,147 each), and $6,000 one-time for three computers. The fully loaded annual cost of the positions is estimated at $185,177 ($92,589 each). These judicial assistants would work directly with the sixth Justice Court judge providing administrative support. The funding is proposed for three months to allow time for the new supervisor position (Clerk of Court) to be hired one month earlier and to allow six-months training before the sixth judge is appointed. - $6,529 ongoing to cover three months of increased operational costs which would mostly be used for interpreter services. The funds may also be used for several other expenses such as jury fees, equipment maintenance, printing and postage among others. The FY2027 annual budget would need $26,115 to cover a full year of the increased operational costs. A total of $55,920 to the City Prosecutor’s Office The City Prosecutor’s Office is proposed to receive $43,920 for four new FTEs, and $12,000 for four computers. The total number of FTEs in the office would increase to 36 FTEs (13% increase). If all the positions are approved, then the FY2027 annual budget would need $527,041 to fully cover the annual cost. - $33,699 ongoing to cover one month for three Associate Prosecutors ($11,233 each), and $9,000 one-time for three computers. The fully loaded annual cost of the positions is estimated at $404,383 ($134,794 each). These positions would help reduce the per attorney caseload. - $10,221 ongoing to cover one month for a Paralegal, and $3,000 one-time for a computer. The fully loaded annual cost of the position is estimated at $ $122,657. Attorneys have absorbed some paralegal work to fit within staffing limits so adding this position would free up time for attorneys to work on other matters. This position would support discovery, screenings, and diversion efforts. A total of $33,115 to the Legal Defenders Association (LDA) The LDA is proposed to receive $33,115 for three new positions which are not City employees; this additional funding would be added to the annual Nondepartmental line-item for the LDA contract with the City. If all the positions are approved, then the FY2027 annual budget would need $397,374 to fully cover the annual cost. This would increase the total contract amount to $2,191,184 (22% increase). - $25,467 ongoing to cover one month for two Attorneys ($12,734 each). The fully loaded annual cost of the positions is estimated at $305,607 ($152,804 each). These positions would help reduce the per attorney caseload. Legal defenders are not involved in every case; the LDA doesn’t get involved in cases that are resolved before appointment and are not usually appointed on cases that involve only infraction level charges . - $7,647 ongoing to cover one month for a Case Manager. The fully loaded annual cost of the position is estimated at $91,767. The case manager would support the Familiar Faces Court and diversion efforts including Project Rio. Salt Lake City FY 2025-26 Budget Amendment #4 Initiative Number/Name Fund One-time or Ongoing Amount 10 A-18: Parking Wayfinding Signage GF One-time $167,500.00 Department: CAN Prepared By: Mary Beth Thompson For questions, please include Kyle Cook, Jorge Chamorro, James Aguilar, Orion Goff and Tammy Hunsaker Design options have been developed for parking wayfinding signage where signage needs replacement or has been deemed necessary. The cost estimate of $167,500 is broken out in the table below and is estimated to cover the cost of 65 signs. Cost per sign Total Cost 45 Updated Signs $1,500 $67,500 20 New Signs $5,000 $100,000 Subtotal $167,500 A-19: Exhibit Space at the City County Building CIP One-time $500,000.00 Department: Mayor’s Office Prepared By: Mary Beth Thompson For questions, please include Jill Love, Alejandro Sanchez and Mary Beth Thompson Funding for design and fabrication of display cases on the third floor of the City County Building. These costs will cover design work and also fabrication costs. Exhibits created will be consistent with the architecture of the building. This will be funding by Bond Interest Income. Section B: Grants for Existing Staff Resources Section C: Grants for New Staff Resources Section D: Housekeeping D-1: Legislative Affairs Operations Funding GF Ongoing $80,000.00 Department: Attorney Prepared By: Cindy Lou Trishman For questions, please include Cindy Lou Trishman Amending the budget to include the previously provided $80,000 to Legislative Affairs for operating costs. Costs include state capital access, parking needs, travel, professional development, and event support. D-2: Engineering Planning and Design Housekeeping and Expansion GF Ongoing ($350,000.00) GF Ongoing $350,000.00 Department: CAN Prepared By: Mark Stephens, Julianne Sabula For questions, please include Tammy Hunsaker, Mark Stephens and Julianne Sabula In the annual budget, as part of the Ongoing Commitments a transfer of $350,000 was set up to be made from General Fund to the CIP fund. It was determined for FY 2026 that it would be better housed in the Non -Departmental cost center within the general fund, however the accounting for the transfer did not get corrected. This budget amendment first needs to correct the "transfer to CIP fund" to an operational expense in the Non-Departmental cost center. This portion of the BA request is simply housekeeping. Salt Lake City FY 2025-26 Budget Amendment #4 Initiative Number/Name Fund One-time or Ongoing Amount 11 In addition to the housekeeping request, the Administration is requesting clarification on the types of projects that these funds can be used for. In the current budget, these funds are called, “Planning and Design” and have been intended to facilitate the planning and design of CIP projects prior to construction. For purposes of clarity, the Administration is requesting that these funds be used not only to develop design documents and cost estimates but expanded to include creating and updating master plans and other plans that are required by federal or state requirements. D-3: Refuse Fund Carry Revenue Budget for Lease Agreement Refuse One-time $0.00 Department: Sustainability Prepared By: Debbie Lyons For questions, please include Debbie Lyons, Chris Bell and Ammon Jacobsmeyer The Sustainability Department is requesting $8,918,482 in revenue for the Refuse Fund. As part of BA#1, the revenues to offset expenses were not accounted for. Budget is required in order to realize financing revenue to enter lease agreements for the new Waste & Recycling collection vehicles we expect to receive in FY 2026. D-4: Community Events - Rescope GF One-Time $0.00 Department: Administration Prepared By: Mary Beth Thompson For questions, please include Mary Beth Thompson This item is to rescope $400,000 budgeted in NonDepartmental from Open Streets as follows: $100,000 for the DTA Blocks program; $200,000 for the watch party; and $100,000 for America 250 events. Unused funds will drop to fund balance. Money is being raising to support these events. D-5: Streets GO Bonds Interest Reallocation for FY 2025-26 CIP One-time ($1,735,515.83) CIP One-time $1,735,515.83 Department: CAN Prepared By: Dawn Valente, Dustin Petersen For questions, please include Dawn Valente, Dustin Petersen and Brent Beck This budget amendment is requesting to allocate the interest from FY 2025 BA#2 for Streets GO bonds in the amount of $1,735,515.83, in addition to any interest which will accrue while processing the invoice reallocations and bond draws from July 1, 2025 through the remainder of the fiscal year June 30, 2026, to be used to fund additional rebuilds of city streets as determined by the Engineering Division's Six Year Pavement Plan and deliberations of the Roadway Selection Committee. Engineering would like to request a straw poll for this housekeeping reallocation. Once approved, Engineering will need to do journal entries to reallocate costs for Treasury to do the bond draws for the bonds that have expired. Then if there is residual interest, another budget amendment will be needed for the remaining unallocated interest, along with additional invoices to be reallocated so the totality of these bonds can be spent. Waiting for the bond draws will incur additional earned interest which may be subject to arbitrage and the potential loss of funding for more roadway rebuilds. One project that Engineering is looking to fund after the reallocation funding is complete is the 1700 East reconstruction from 1700 South to 2100 South which was on the original reconstruction list but had to be pulled due to funding shortage in the 2018 GO Bond series. Engineering and Transportation are working alongside Public Utilities to coordinate their storm drainage project along 1700 East within and ahead of our road construction project limits, as well as the Highland High Reconstruction that the school board will be doing over the next few years. This should be another success story like 2100 South reconstruction where Engineering is able to install all the upgraded sewer and water lines for Public Utilities as part of the roadway construction project to accommodate forthcoming private development Salt Lake City FY 2025-26 Budget Amendment #4 Initiative Number/Name Fund One-time or Ongoing Amount 12 capacity needs without having to tear up new pavement within a few years. This collaboration with the City’s internal Departments/Divisions and external entities is saving taxpayer dollars. D-6: California Avenue Safety Improvements Rescope CIP One-time $0.00 Department: CAN Prepared By: Julianne Sabula For questions, please include Julianne Sabula, Jon Larsen and Tammy Hunsaker City Council funded a constituent requested project in the fall of 2024 to improve pedestrian safety in the Glendale neighborhood. The project proposed to relocate curb and gutter to widen sidewalks and reduce the pedestrian crossing distance on California Avenue, between Glendale Drive and Concord St, along with other safety improvements. During the civil design work, it was discovered that relocating the curb and gutter would be more expensive than anticipated to allow proper drainage of the relatively flat elevation. Transportation is requesting to rescope funding to allow other improvements, as well as to expand the project area to include two nearby schools. Potential improvements could include landscaping, lighting, traffic calming, pedestrian safety i mprovements and/or school crosswalk. Adequate funds are available to address these items, but the Council needs to approve the budget rescope. D-7: CPTED Streetlighting– GF to CIP Transfer CIP One-Time $300,000 Department: Finance Prepared By: Mike Atkinson As part of the annual budget, the $300,000 was not recognized in key chances with the adoption of the CIP Budget. This action is to recognize this item. Section E: Grants Requiring No New Staff Resources E-1: Trail Maintenance for Salt Lake City Portion of the Jordan River Trail Misc Grants One-time $57,000.00 Department: Finance Prepared By: Amy Dorsey, Julianne Sabula For questions, please include Amy Dorsey and Julianne Sabula This budget amendment is to recognize the City's funding availability grant award in the amount of $57,600 for the purpose of removing dead and dying trees and other woody vegetation to improve navigability, safety and beautification of the Jordan River between 1700 South and 900 South. Section F: Donations Section G: Consent Agenda Consent Agenda # Section I: Council Added Items This page has intentionally been left blank Item E1 CITY COUNCIL OF SALT LAKE CITY 451 SOUTH STATE STREET, ROOM 304 P.O. BOX 145476, SALT LAKE CITY, UTAH 84114-5476 SLCCOUNCIL.COM TEL 801-535-7600 FAX 801-535-7651 MOTION SHEET CITY COUNCIL of SALT LAKE CITY TO:City Council Members FROM: Council Staff DATE:February 3, 2026 RE: Advice and Consent: Salt Lake City Chief Information Officer – Zach Posner MOTION 1 – APPROVE I move that the Council approve the appointment of Zach Posner as the Salt Lake City Chief Information Officer. SALT LAKE CITY TRANSMITTAL To: Salt Lake City Council Chair Submission Date: 01/16/2026 Date Sent to Council: 01/20/2026 From: Department * Mayor Employee Name: Sanchez, Alejandro E-mail alejandro.sanchez@slc.gov Department Director Signature Director Signed Date 01/16/2026 Chief Administrator Officer's Signature Chief Administrator Officer's Signed Date 01/20/2026 Subject: Appointment Recommendation - Zach Posner as the Chief Information Oﬃcer. Additional Staff Contact: Jill LoveMegan Yuill Presenters/Staff Table Jill.love@slc.govMegan.yuill@slc.gov Document Type Information Item Budget Impact? Yes No Recommendation: Mayor Mendenhall recommends the appointment of Zach Posner as the Chief Information Oﬃcer for the Information Management Services Department for the council consideration in the advice and consent legislative process. Background/Discussion Brief Biography: Zach Posner brings over 25 years of technology experience, with nearly a decade dedicated to public service. Most recently, he served as CIO for Salt Lake County. During his eight years with the County, Zach oversaw critical infrastructure modernization, cloud transformation initiatives, Cybersecurity and the implementation of innovative programs including countywide AI governance frameworks. Prior to his work in local government, Zach spent 12 years at NPR HQ in Washington DC, advancing from Systems Administrator to Director of IT Operations for the public media organization. His career reﬂects a consistent commitment to mission-driven organizations, including experience running global technology services in the outdoor industry at Black Diamond Equipment. As CIO, Zach brings a collaborative leadership approach focused on aligning technology strategy with organizational mission, building high-performing teams, and delivering digital services that meaningfully serve the community. He believes in the application of technology to deliver great services that improve our work and better the lives of our residents. We are pleased to present Zach's resume, redacted for privacy, for your consideration in appointing him as the Chief Information O ﬃcer. Public Hearing Is there a City or State statutory requirement to hold a public hearing for this item?* Yes No The City Council reserves the option to hold and notice for a public hearing pursuant to their practices for public engagement. Does the City have a general practice to hold a public hearing for this item?* Yes No Public Process This page has intentionally been left blank ZACH POSNER Chief Information Officer PROFILE Technology executive with 20+ years leading digital transformation, IT operations, and strategic initiatives across government, media, and consumer products. Proven ability to build high-performing teams, drive organizational change, and deliver measurable business results. Deep experience in AI policy development, enterprise modernization, cybersecurity, and cross-sector partnerships. Committed to customer service excellence as the foundation for IT credibility and strategic influence. EXPERIENCE Salt Lake County 2017 – Present Chief Information Officer Lead 114-person IT organization serving 42 county agencies with $11.6M+ in strategic priorities spanning cloud infrastructure, legacy modernization, security, and digital services. •Digital Transformation: Leading multi-year initiative to migrate 40+ year-old mainframe tax systems to modern Azure-based infrastructure, transitioning payroll, addressing, audit, assessment, and taxation applications to a hybrid cloud architecture. •AI Policy & Governance: Developed countywide AI governance framework and policy. Building public-private partnerships to advance responsible AI adoption in government. Championing AI literacy and democratization across county operations. •Digital Engagement: Transformed citizen-facing digital services through design thinking and constituent engagement. Delivered comprehensive website redesign focused on accessibility, usability, and modern user experience. •Strategic Partnerships: Forging collaborations with peer governments and private sector organizations to share best practices, accelerate innovation, and expand cybersecurity capabilities across the region. •IT Governance: Convened first successful cross-agency IT governance group, uniting agencies and independent elected officials across political boundaries to align on IT spending, projects, and enterprise standards. •Cybersecurity Leadership: Appointed to Governor's Cybersecurity Commission for statewide public/private partnerships and cyber response planning. Revamped security systems, policies, and training, avoiding 100% cyber insurance increase. •Crisis Response: Enabled rapid COVID remote work transition from near-zero to full knowledge worker adoption. Led Vaccinate Utah implementation delivering 350,000+ vaccinations in first three months. •Customer Service Excellence: Rebuilt IT reputation across county government, earning first-ever Platinum Customer Service Award from Salt Lake County Mayor. Black Diamond Equipment 2011 – 2017 Vice President, Information Technology •Growth Strategy: Led technical implementation of Direct-to-Consumer ecommerce platform (Demandware/Salesforce Commerce Cloud), completing Black Diamond brand on budget in under 12 months and Gregory brand in under 4 months. Enabled 20%+ direct sales growth year-over-year for four consecutive years. •SOX Compliance: Designed and implemented streamlined SOX controls framework, achieving compliance, control, and efficiency with no notable deficiencies across six-year audit period. Balanced rigorous compliance requirements with operational agility. •Business Intelligence: Built internal BI, Master Data, and EDI capabilities enabling global synchronization of 3,500+ items across three continents. Developed Control Tower inventory system, reallocating ~3 FTE from supply chain to sales while reducing days inventory outstanding by 19%. •M&A Integration: Planned and executed technology components of two acquisitions and two divestitures, including complete systems integration across ERP, network, and warehouse platforms. Vice President, Ecommerce (Interim) •Managed $19M revenue operation consistently growing over 20% annually. Exceeded prior year revenue by 20-40% for four consecutive quarters. • Launched European Direct ecommerce business. Implemented EU-oriented payment processor (Adyen) to drive flexible, customer-focused payment options globally. • Led expansion of digital marketing programs around email, retargeting, and personalization. Maintained zero staff turnover during leadership transition (6 direct reports, 18 total). NPR (National Public Radio) 2001 – 2011 Director, IT Operations (2007 – 2011) • Led three-year strategic planning for IT operations focused on service, reliability, and agility. Integrated IT and Broadcast Engineering—two previously antagonistic groups—into unified, high-functioning team. • Implemented change management process increasing tracked changes by 300% while reducing customer outages. Achieved 22+ consecutive months without broadcast incident after eliminating frequent outages. • Managed team through financial crisis and 22% IS staff reduction without service degradation. Increased surveyed customer satisfaction from 71% to record 87%. • Negotiated and implemented shared services strategy to support acquisition and integration of National Public Media. Business Applications Delivery Manager (2006 – 2007) • Eliminated frequent unplanned outages in ERP and HR systems. Implemented traffic management (advertising inventory) system with three-month ROI. Built freelancer contracting system reducing onboarding from months to minutes. Support Services Manager (2003 – 2006) | Systems Administrator (2001 – 2003) Progressive advancement through technical and management roles, building foundation in enterprise systems, customer support, and team leadership. EDUCATION MS, IT Management — American University, Kogod School of Business, Washington DC BS, History & South Asian Studies — University of Wisconsin-Madison This page has intentionally been left blank SALT LAKE CITY BOARD MEMBER TRANSMITTAL To: Salt Lake City Council Chair Submission Date: 01/20/2026 Date Sent To Council: 01/21/2026 From: Otto, Rachel Subject: Board appointment Recommendation: Historic Landmark Commission Recommendation: The Administration recommends the Council approve the appointment of Steven Cornell to the Historic Landmark Commission for a 4 year term starting on the date of City Council advice and consent . Steven Cornell currently lives in District 7. Approved:* Otto, Rachel City Council Announcements February 3, 2026 Information Needed by Council Staff A. Council District Newsletters for Public Utilities Mailing At the beginning of each calendar year, the Public Utilities Department identifies certain months for Council Members to include Council District newsletters as an insert in residents’ monthly utility bills. Each Council Member may opt to use the Public Utility billing for outreach purposes once per calendar year. The advantage of sharing in the Public Utilities mailings is Council Members only pay for printing expenses out of their communication budget, saving on costs associated with postage (26 cents per newsletter). Due to limitations with mail sorting machines, only three Council District newsletters can be accommodated each month. The following months have been identified for the Council to include a newsletter insert. Please let staff know which month you would like to include a newsletter as part of the Public Utilities billing: o April o August o December Below are tables comparing the estimated count and cost of a districtwide newsletter and a Public Utilities newsletter (both sized at 11” x 17”) as well as the geographic breakdown. Estimated Count and Cost Districtwide Newsletter Public Utilities Newsletter District 1 Count: 9,760 Print Cost: $3,911.70 Postage: $2,518.08 Total: $6,429.78 Count: 5,028 Total: $1,865.48 District 2 Count: 12,866 Print Cost: $4,709.82 Postage: $3,319.43 Total: $8,029.25 Count: 6,703 Total: $2,128.79 District 3 Count: 15,455 Print Cost: $5,403.98 Postage: $3,987.39 Total: $9,391.37 Count: 4,699 Total: $1,796.69 District 4 Count: 23,403 Print Cost: $7,541.35 Postage: $6,037.97 Total: $13,579.32 Count: 3,367 Total: $1,602.62 District 5 Count: 14,669 Print Cost: $5,205.26 Postage: $3,784.60 Total: $8,989.86 Count: 6,371 Total: $2,060.65 District 6 Count:9,647 Print Cost: $3,861.43 Postage: $2,488.93 Total: $6,350.36 Count: 5,374 Total: $1,917.19 District 7 Count: 14,195 Print Cost: $5,064.37 Postage: $3,662.31 Total: $8,726.68 Count: 6,219 Total: $2,037.95 Grand Total Count: 99,995 Print Cost: $35,697.91 Postage: $25,798.71 Total: $61,496.62 If we were to send out a single citywide newsletter, it would be $51,981.90. Count: 37,761 Total: $13,409.37 Geographic Breakdown Districtwide Newsletter Public Utilities Newsletter District 1 5,577 single family dwelling units 3,519 multi family dwelling units 92 mobile homes 572 businesses 9,760 total N/A District 2 5,622 single family dwelling units 4,648 multi family dwelling units 99 mobile homes 2,497 businesses 12,866 total N/A District 3 5,574 single family dwelling units 9,273 multi family dwelling units 0 mobile homes 608 businesses 15,455 total N/A District 4 2,387 single family dwelling units 18,647 multi family dwelling units 0 mobile homes 2,369 businesses 23,403 total N/A District 5 7,301 single family dwelling units 6,150 multi family dwelling units 0 mobile homes 1,218 businesses 14,669 total N/A District 6 7,322 single family dwelling units 1,801 multi family dwelling units 0 mobile homes 524 businesses 9,647 total N/A District 7 8,084 single family dwelling units 5,390 multi family dwelling units 0 mobile homes 721 businesses 14,195 total N/A Grand Total 41,867 single family dwelling units 49,428 multi family dwelling units 191 mobile homes 8,509 businesses 99,995 total N/A