04 of 2023 - Utah Performing Arts Center Agreements3
14th February
04 of 2023
Alejandro Puy (Feb 21, 2023 09:42 MST)
Transmitted to the Executive Director on -------
The Executive Director:
___ does not request reconsideration
___ requests reconsideration at the next regular Agency meeting.
Erin Mendenhall, Executive Director
Approved as to form:
Salt Lake City Attorney's Office
Attest:
Salt Lake City Recorder's Office
4
Allison Parks (Feb 21, 2023 09:25 MST)
Feb 21, 2023
Feb 21, 2023
Erin Mendenhall (Feb 21, 2023 11:08 MST)
4
5
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Salt Lake County Contract No. SG13517C
District Attorney No. 22CIV001680
FOURTH AMENDMENT
TO
OPERATING AGREEMENT
UTAH PERFORMING ARTS CENTER
THIS FOURTH AMENDMENT Fourth Amendment
dated ________________, 2023 Effective Date
Owner
County, a body corporate and politic of the S County Operator wner and
Party Parties.
R E C I T A L S
A. The Parties executed that certain Operating Agreement Utah Performing Arts Center
Operating Agreement
identified as Salt Lake County Contract No. SG13517C and sets forth certain requirements for
Operator to operate the George S. and Dolores Doré Eccles Theater, formerly known as the Utah
Theater 2013, and ending on December 31, 2041.
B. Pursuant to Section 8.8 of the Operating Agreement, the Parties now wish to amend the
Operating Agreement to amend any incentive compensation paid by Operator to a co-promoter, and
to increase the Capital Reserve Account limit to One Million Dollars ($1,000,000.00) per Fiscal year.
AGREEMENT
NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which
the Parties hereby acknowledge, the Parties agree as follows:
1. The Parties agree section 4.3.1 Co-Promotion of the Operating Agreement will be amended to
include the following:
Beginning December 31, 2022, any incentive compensation paid by Operator to a co-
Operations Reserve allocation of One Million Dollars ($1,000,000.00) to the Capital
Reserve Account.
2. The Parties agree that paragraph 5.3.2 of the Operating Agreement will be amended to include
the following:
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Beginning December 31, 2022, and during each Fiscal Year thereafter, One Million Dollars
1,000,000.00) will be distributed to Owner to fund the Capital Reserve Account. The
funding of the Capital Reserve Account will be tracked on a cumulative basis. In the event
that during a Fiscal Year, Net Operating Income is not sufficient to fund the full One Million
Dollars ($1,000,000.00) to the Capital Reserve Account, then the shortfall will also be tracked
3. All other Parts, Paragraphs, Attachments and other provisions of the Agreement and any prior
amendments thereof not specifically modified by this Fourth Amendment shall be the same and remain
in full force and effect.
SIGNATURE PAGES FOLLOW]
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IN WITNESS WHEREOF, Owner, Operator, City and RDA have executed this Fourth
Amendment to be effective as of the Effective Date.
OPERATOR:
SALT LAKE COUNTY, a body corporate and politic
of the State of Utah
By:
Its: Mayor or Designee
Print Name:
Reviewed and Advised as to Form and Legality:
Deputy District Attorney
Salt Lake County
County, by resolution of its County Council, a copy of which is attached hereto, caused this Fourth
Amendment to Operating Agreement be signed by the Mayor, or his designee.
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IN WITNESS WHEREOF, Owner, Operator, City and RDA have executed this Fourth
Amendment to be effective as of the Effective Date.
OWNER:
UTAH PERFORMING ARTS CENTER AGENCY, an
interlocal agency of the State of Utah
By: ______________________________________
Its: ______________________________________
Date: ________________
Reviewed and Advised as to Form and Legality:
Deputy District Attorney
Salt Lake County
Owner, by resolution duly adopted by its Board, a copy of which is attached hereto, caused this
Agreement to be signed by its ________________________.
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IN WITNESS WHEREOF, Owner, Operator, City and RDA have executed this Fourth
Amendment to be effective as of the Effective Date.
CITY:
SALT LAKE CITY CORPORATION, a Utah
municipal corporation
Erin J. Mendenhall
Mayor
ATTEST:
City Recorder
Reviewed and Advised as to Form and Legality:
Salt Lake City
Senior City Attorney
City, by resolution duly adopted by its City Council, a copy of which is attached hereto, caused this
Fourth Amendment to Operating Agreement to be signed by its Mayor and attested by its City
Recorder.
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IN WITNESS WHEREOF, Owner, Operator, City and RDA have executed this Fourth
Amendment to be effective as of the Effective Date.
RDA:
REDEVELOPMENT AGENCY OF
SALT LAKE CITY, a public agency
Erin J. Mendenhall
Executive Director
ATTEST:
City Recorder
Reviewed and Advised as to Form and Legality:
Senior City Attorney
RDA, by resolution duly adopted by its Board, a copy of which is attached hereto, caused this
Agreement to be signed by its Executive Director, and approved as to legal form by its legal counsel.
H:\Share\CWANGSGARD\Arts & Culture\UPAC\Operating Agreement\Amendment 4\Fourth Amendment to UPACA Ops Agreement -
1.11.23.docx
Resolution 04 of 2023 Utah Performing Arts
Center Fourth Amendment
Final Audit Report 2023-02-21
Created:2023-02-17
By:Thais Stewart (thais.stewart@slcgov.com)
Status:Signed
Transaction ID:CBJCHBCAABAAxAhFHFQ4yk1P53zgk1IjeRUlrOoMl-FL
"Resolution 04 of 2023 Utah Performing Arts Center Fourth Ame
ndment" History
Document created by Thais Stewart (thais.stewart@slcgov.com)
2023-02-17 - 1:16:48 AM GMT
Document emailed to Allison Parks (allison.parks@slcgov.com) for signature
2023-02-17 - 1:18:19 AM GMT
Email viewed by Allison Parks (allison.parks@slcgov.com)
2023-02-21 - 4:25:39 PM GMT
Document e-signed by Allison Parks (allison.parks@slcgov.com)
Signature Date: 2023-02-21 - 4:25:50 PM GMT - Time Source: server
Document emailed to alejandro.puy@slcgov.com for signature
2023-02-21 - 4:25:52 PM GMT
Email viewed by alejandro.puy@slcgov.com
2023-02-21 - 4:42:00 PM GMT
Signer alejandro.puy@slcgov.com entered name at signing as Alejandro Puy
2023-02-21 - 4:42:29 PM GMT
Document e-signed by Alejandro Puy (alejandro.puy@slcgov.com)
Signature Date: 2023-02-21 - 4:42:31 PM GMT - Time Source: server
Document emailed to Erin Mendenhall (erin.mendenhall@slcgov.com) for signature
2023-02-21 - 4:42:33 PM GMT
Email viewed by Erin Mendenhall (erin.mendenhall@slcgov.com)
2023-02-21 - 4:43:19 PM GMT
Document e-signed by Erin Mendenhall (erin.mendenhall@slcgov.com)
Signature Date: 2023-02-21 - 6:08:47 PM GMT - Time Source: server
Document emailed to Cindy Trishman (cindy.trishman@slcgov.com) for signature
2023-02-21 - 6:08:49 PM GMT
Document e-signed by Cindy Trishman (cindy.trishman@slcgov.com)
Signature Date: 2023-02-21 - 10:44:19 PM GMT - Time Source: server
Agreement completed.
2023-02-21 - 10:44:19 PM GMT