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Motion Sheet - 10/1/2024Items E1 & E2 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: Nick Tarbet Policy Analyst DATE:October 1, 2024, 2:15pm version RE: MOTION SHEET: Resolution: Capital City Revitalization Zone – Final Participation Agreement, Final Project Area, Project Participant Designation Ordinance: Capital City Revitalization Zone – Imposing a 0.5% Citywide Sales and Use Tax The Council will consider the following items as two separate legal actions. The intent is for the Council to speak to the motion after Item E1, the participation agreement. MOTION 1 (Item E1 - participation agreement) I move that the Council adopt a resolution approving the final Capital City Revitalization Zone Project Area and Participation Agreement between Salt Lake City and Smith Entertainment Group, LLC, and designating Smith Entertainment Group, LLC as the project participant. I further move that as the City Council recognizes the importance of Abravanel Hall as a cultural and architectural icon in the City's cultural and entertainment scene, and its significant role in the future of the Sports, Entertainment, Culture and Convention District. The City will continue to collaborate with the County, SEG, and other stakeholders, and develop a comprehensive plan for the preservation, renovation, and ongoing operation of Abravanel Hall at its current location. I further move we recognize the value and importance of Utah Museum of Contemporary Art and look forward to its continuing contribution to the district. MOTION 2 (Item E2 - sales tax) I move that the Council adopt an ordinance establishing, approving, and levying a 0.5% citywide sales and use tax on eligible transactions identified in Utah Code 59-12-402.5. MOTION 3 I move that the Council reject the resolution and ordinance.