Transmittal - 8/9/2024SALT LAKE CITY TRANSMITTAL - RDA
To:
Salt Lake City Redevelopment Agency Chair
Start Date:
07/26/2024
Date Sent to RDA Board:
07/29/2024
From:
Employee Name:
Stine, Robyn
E-mail
robyn.stine@slc.gov
Department
Redevelopment Agency
Mayor's Office Leadership *
Mayor's Signed Date
07/29/2024
Subject:
300 West 800 South Tier 1 Pre-Disposition Property Report
Additional Staff Contact:
Tracy Tran, Senior Project Manager - tracy.tran@slc.govMakena Hawley, Project Manager - makena.hawley@slc.gov
Presenters/Staff Table
Tracy Tran, Senior Project Manager - tracy.tran@slc.govMakena Hawley, Project Manager - makena.hawley@slc.govDanny Walz, Director - danny.walz@slc.gov
Document Type *
Information Item
Budget Impact *
Yes
No
Budget Impact:
Recommendation:*
Briefing. No action requested.
Background/Discussion
This memo provides an overview of the disposition plans for the RDA's West Montrose properties totaling approximately 2 acres at 800 S and 300 W.
Will the RDA Board need to hold a public hearing for this item?*
Yes
No
Public Process
Mayor's Comments
Attachment(s)
West Montrose Pre Disposition Property Report - BOD August 2024 Memo.pdf 547.27KB
08/09/2024
REDEVELOPMENT AGENCY of SALT LAKE CITY
1
MAYOR ERIN MENDENHALL
Executive Director
DANNY WALZ
Director
STAFF MEMO
DATE:
PREPARED BY:
RE:
July 26, 2024
Makena Hawley, Project Manager
Tracy Tran, Senior Project Manager
300 West 800 South Tier 1 Pre-Disposition Property Report
Briefing. No action requested.
Property Disposition
REQUESTED ACTION:
POLICY ITEM:
BUDGET IMPACTS: Not applicable.
EXECUTIVE SUMMARY:
In accordance with the Real Property Disposition Policy that was adopted on March 23, 2021,
the Redevelopment Agency of Salt Lake City (RDA) is required to provide an update to the
Board of Directors (Board) at the following stages of the property disposition process: pre-
disposition (prior to marketing the property), developer selection, and development/lease
agreement.
The information provided in Attachment A is intended to serve as a Pre-Disposition Report for a
Tier 1 property located at 300 West and 800 South (“Property”) in the West Temple Gateway
project area. The tax increment collection period for West Temple Gateway concluded in 2018.
Disposition and redevelopment of the Property is one of the last activities for the RDA to
complete before dissolving the project area. The purpose of this memorandum is to provide an
update to the Board as to the property’s reuse plan, the method of disposition, and the suggested
timeline of disposition, as well as other information relevant to the disposition of the property.
ANALYSIS & ISSUES:
Refer to Attachment A for a Pre-Disposition Report for a Tier 1 property located at 300 West
800 South in the West Temple Gateway Project Area.
PREVIOUS BOARD ACTION: None
ATTACHMENTS:
A.Property Pre-Disposition Report
2
ATTACHMENT A
TIER 1 PRE-DISPOSITION REPORT
Property located at approximately 300 West 800 South
The following information serves as a pre-disposition report for the disposition of Tier 1 property
located at 300 West 800 South. The report includes the property’s reuse plan, method of
disposition, timeline of disposition, and other information relevant to the disposition of the
property.
An overview of the Property is as follows:
• Site: 300 West & 800 South, Salt Lake City, UT – Approximately 2 acres
• Project Area: West Temple Gateway (tax increment collection concluded in 2018)
• Property Type: Tier 1
• Tier 1 Justification: The property is owned by the RDA and is an assemblage of parcels
of approximately 2 or more contiguous acres in size.
• Current Use: Partially occupied with existing warehouse buildings with tenants on
short-term leases.
• Zoning: Form Based Urban Neighborhood District (FBUN-2)
3
• Property’s Reuse Plan: The RDA seeks a residential mixed-use, mixed-income
development that incorporates design excellence in the site plan and building design to
encourage an active street life, pedestrian connectivity, and creative integration of the
Project into the neighborhood. Additionally, an important part of the scope will include a
resident wealth building component for low to moderate income residents living in the
new development. The wealth building component may include models such as home
ownership, supplemental income opportunities, stipends for renters, cooperative housing,
etc.
• Method of Disposition: The RDA will issue a request for proposals (RFP) to
competitively market the Property via a time-limited, project-based selection process.
Through this process, the RDA will request proposals from qualified developers to
purchase or lease the Property, and design and construct a project in accordance with the
Property’s reuse plan. A selection committee will review and rank RFP responses to
select a developer with which to negotiate. The Property will be offered for sale or lease
to the selected developer, subject to the development restrictions set forth through the
RFP. The developer will need to secure approval from and coordinate with the RDA on
the design and construction of the development.
• Suggested Timeline: While the timeline will be influenced by economic conditions and
the complexity of the selected project, the RDA is estimating that the schedule of
disposition will be as follows:
RFP Released: Q3 2024
RFP Proposals Due: Q4 2024
Developer Selection: Q1 2025
Closing & Project Groundbreaking: Q1 2026
• Additional Information Relevant to Disposition of the Property: The original RFP
was withdrawn in October of 2020 because new information became available following
its release related to the ownership of segments of Montrose Avenue, which bisects the
RDA’s property. The RDA determined that the section of Montrose Avenue that bisects
the RDA’s property is a private street and not a public street. In addition, a title report
indicated that previous owners of the RDA’s property did not include the private right of
way in their deed to subsequent buyers, so the ownership of the right of way may have
remained with the original owners rather than being transferred to subsequent lot owners.
The RDA will be pursuing quiet title to clean up this issue. The quiet title process will
run concurrently with the release of this RFP with the goal of clarifying the street issues
by the time a developer is selected and contracts are signed.