36 of 2024 - Interlocal Agreement Housing and Transit Reinvestment Zone (HTRZ) 900 SouthSALT LAKE CITY RESOLUTION
NO. ________ OF 2024
(Authorizing the execution of an interlocal agreement with the Redevelopment Agency of Salt
Lake City for the use of a portion of tax increment to support the implementation of the
900 South Housing Transit Reinvestment Zone)
WHEREAS, on November 8, 2023, and pursuant to Utah Code Section 63N-3-605, the
state’s Housing and Transit Reinvestment Zone Committee conditionally approved the
Redevelopment Agency of Salt Lake City (Agency’s) and Salt Lake City’s (City’s) 900 South
Housing Transit Reinvestment Zone application (the HTRZ Plan).
WHEREAS, under the HTRZ Plan, the Agency and City will receive tax increment from
a variety of taxing entities to support transit-oriented development with a high density of affordable
housing and mixed uses in the HTRZ Plan’s project area.
WHEREAS, for the City and Agency to receive and use the tax increment generated in the
HTRZ Plan area, Utah Code 63N-3-607 requires that the parties execute an interlocal agreement
which sets forth the terms under which the City will convey the tax increment to the Agency to be
used consistent with the purposes set forth in the HTRZ Plan and state law.
WHEREAS, the parties desire to execute the attached interlocal agreement in which the
City consents to the Agency receiving the tax increment from the HTRZ Plan’s area.
THEREFORE, BE IT RESOLVED, by the City Council of Salt Lake City, Utah:
1. It does hereby approve the execution and delivery of an interlocal cooperation agreement
between the Redevelopment Agency of Salt Lake City and Salt Lake City Corporation
regarding the use of tax increment from the 900 South Housing and Transit Reinvestment
Zone. Such agreement shall be effective upon both the City and Agency approving the
agreement. The interlocal agreement does not create an interlocal entity.
2. Erin Mendenhall, Mayor of Salt Lake City, Utah or her designee is hereby authorized to
approve, execute, and deliver said agreement on behalf of Salt Lake City Corporation, in
substantially the same form as now before the City Council and attached hereto as Exhibit
A, subject to such minor changes that do not materially affect the rights and obligations of
the City thereunder and as shall be approved by the Mayor, her execution thereof to
constitute conclusive evidence of such approval.
3. This resolution shall take effect upon adoption.
36
Passed by the City Council of Salt Lake City, Utah this day of , 2024.
SALT LAKE CITY COUNCIL
Chairperson
Attest:
City Recorder
15th October
Oct 21, 2024
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EXHIBIT A
[Attach Form Interlocal Agreement]
1
INTERLOCAL COOPERATION AGREEMENT
BETWEEN SALT LAKE CITY CORPORATION AND
THE REDEVELOPMENT AGENCY OF SALT LAKE CITY
900 South Housing Transit Reinvestment Zone Tax Increment
This interlocal cooperation agreement is executed between the Redevelopment Agency of
Salt Lake City (the Agency) and Salt Lake City Corporation (the City).
RECITALS
A. On November 8, 2023, and pursuant to Utah Code Section 63N-3-605, the Housing
and Transit Reinvestment Zone Committee conditionally approved the Agency’s and City’s 900
South Housing Transit Reinvestment Zone Application (the HTRZ Plan), a copy of which is
attached as Exhibit A and includes a parcel list and a map of the 900 South Housing Transit
Reinvestment Zone area (the Project Area).
B. Under the HTRZ Plan, the Agency and City support transit-oriented development in
the Project Area with a high density of affordable housing and mixed uses, which will be accessible
to a range of incomes.
C. By submitting the HTRZ Plan for review and approval by the Housing and Transit
Reinvestment Zone Committee, the Agency and City determined that it is in their best interests to
provide certain financial assistance using tax increment (as defined in Utah Code Section 63N-3-
602(33), hereinafter, Tax Increment) from participating taxing entities. The taxing entities that
are participating include the City, Salt Lake County, Salt Lake City School District, Salt Lake City
Library, Salt Lake Metropolitan Water District, Salt Lake City Mosquito Abatement District, and
Central Utah Water Conservancy District (individually, Taxing Entity, and collectively, Taxing
Entities).
D. On December 12, 2023, the Agency adopted a policy to guide the use and distribution
of Tax Increment (HTRZ Policy).
E. The Agency anticipates using Tax Increment created by development activities in the
Project Area to assist in development as set forth in the HTRZ Plan and distributed consistent with
the HTRZ Policy.
F. For the City and Agency to receive and use the Tax Increment, Utah Code Section 63N-
3-607 requires that the parties execute this agreement to set forth the terms under which the City
will convey the Tax Increment to the Agency consistent with the purposes set forth in the HTRZ
Plan and state law.
NOW, THEREFORE, for good and valuable consideration, the parties agree as follows:
1. City’s Agreement. The City hereby agrees that the Agency shall receive a maximum
capture of eighty percent (80%) of the Tax Increment from the Project Area for a term of fifteen
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(15) years to use consistent with the HTRZ Policy, HTRZ Plan, and state law. The parties
acknowledge that the Tax Increment collection period may be extended for a total of seventeen
(17) years should state law be amended to allow for this longer collection period. Such an
extension shall be reflected in a written amendment to this agreement. The collection period shall
begin no later than 2030 and be triggered when the City provides notice of the commencement of
the collection of Tax Increment to various third-party entities as detailed in 63N-3-603. As
provided for in Utah Code Section 63N-3-602(33), the calculation of annual Tax Increment shall
be the difference between (a) the amount of property tax revenue generated by a Taxing Entity
from the Project Area using the current assessed value and each Taxing Entity’s certified tax
rate, and (b) the amount of property tax revenue generated from the Project Area using the base
taxable value and each Taxing Entity’s then current certified tax rate. The base taxable value
shall be calculated using 2022 as the base year.
2. Interlocal Cooperation Act. In satisfaction of the requirements of Utah Code
Chapter 11-13 (the Interlocal Cooperation Act) in connection with this agreement, the parties
agree as follows:
a. This agreement shall be authorized and adopted by resolution of the legislative
body of each party pursuant to and in accordance with the provisions of Section 11-13-202.5 of
the Interlocal Cooperation Act.
b. This agreement shall be reviewed as to proper form and compliance with applicable
law by a duly authorized attorney on behalf of each party pursuant to and in accordance with
Section 11-13-202.5(3) of the Interlocal Cooperation Act.
c. Except as otherwise specifically provided in this agreement, each party shall be
responsible for its own costs for any action taken pursuant to this agreement, and for any financing
of such costs.
d. A duly executed original counterpart of this agreement shall be filed immediately
with the keeper of records of each party pursuant to Section 11-13-209 of the Interlocal
Cooperation Act.
e. No separate legal entity is created by the terms of this agreement. The Executive
Director of the Agency is hereby designated the administrator for all purposes of the Interlocal
Cooperation Act, pursuant to Section 11-13-207 of the Interlocal Cooperation Act.
f. Following the execution of this agreement by each of the parties, each party may
cause a notice regarding this agreement to be published in accordance with Section 11-13-219 of
the Interlocal Cooperation Act.
g. No real or personal property shall be acquired jointly by the parties because of this
agreement. To the extent a party acquires, holds, or disposes of any real or personal property for
use in the joint or cooperative undertaking contemplated by this agreement, such party shall do so
in the same manner that it deals with other property of such party.
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3. Modification and Amendment. Any modification of or amendment to any
provision of this agreement shall be effective only if the modification or amendment is in writing
and signed by each of the parties. Any oral representation or modification concerning this
agreement shall be of no force or effect.
4. Further Assurance. Each of the parties hereto agrees to cooperate in good faith
with the other, to execute and deliver such further documents, to adopt any resolutions, to take any
other official action, and to perform such other acts as may be reasonably necessary or appropriate
to consummate and carry into effect the transactions contemplated under this agreement.
4
Executed to be effective as of the date this agreement is filed with the Salt Lake City
Recorder’s Office.
REDEVELOPMENT AGENCY OF SALT LAKE
CITY
Erin Mendenhall, Executive Director
Approved as to proper from with applicable law:
___________________________________
Salt Lake City Attorney’s Office
Attest:
___________________________________
Salt Lake City Recorder
SALT LAKE CITY CORPORATION
Erin Mendenhall, Mayor
Approved as to proper from with applicable law:
_____________________________
Salt Lake City Attorney’s Office
Attest:
___________________________________
Salt Lake City Recorder
5
EXHIBIT A
HTRZ Plan
SALT LAKE CITY
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July 2023
HTRZ PROPOSAL
TABLE OF CONTENTS:
Executive Summary 3
Proposed HTRZ Location 4
Development Plan 5
HTRZ Tax Increment & Budget 6
Construction Gap Analysis 7
Private Development Support 8
Public Development Support 11
Sales Tax Analysis 14
State Code Alignment 15
Alternative Funding Sources 18
Exhibits 19
The proposed Housing and Transit Reinvestment Zone (HTRZ) is centered around the TRAX light rail
station at approximately 200 West and 900 South. The area primarily covers Salt Lake City’s Granary
District, Central Ninth Neighborhood and a portion of Downtown that are comprised of a mix of land uses
from multi-family residential to office and commercial. While each of these neighborhoods are
experiencing growth, public support is critical to facilitate affordable housing opportunities that are so
needed adjacent to the Central Business District that employs over 70,000 workers - the vast majority of
which are commuters (Downtown Alliance, 2022). Much denser, transit-oriented development must occur
to take full advantage of existing light rail that runs through the proposed HTRZ and to further the
associated benefits of public transit such as reduced carbon emissions and improved air quality.
Additional public support is needed to extend light rail further to connect these growing neighborhoods to
the downtown, airport, University of Utah and the rest of the Wasatch Front via the TRAX and FrontRunner
system located within 1/2 mile of the proposed HTRZ.
The Granary District in particular continues to transition from primarily industrial uses and warehouse
buildings to Salt Lake City’s center of creativity – with makerspaces for artists and tradespeople, culinary
and recreational experiences and local businesses of various types and sizes. Due to the industrial
history of this area, it developed without infrastructure that is commonly found in the rest of the city.
Many streets do not have pedestrian enhancements such as sidewalks, street trees, park strips, curbs
and gutters. Street surfaces are in disrepair and need to be rebuilt. Public investment is greatly needed
to support this neighborhood’s growth and the innovation happening within it. Other transformative public
infrastructure projects that are anticipated to be supported through the creation of this HTRZ include
Grand Boulevard improvements, the Green Loop linear park and improvements to the old rail line running
down 400 West.
In summary, the area encompassed within the proposed HTRZ is growing, but if not for the support of this
proposed HTRZ, growth may be sporadic, unaffordable (for residents and local businesses alike) and at a
lower density that doesn’t support existing transit and leaves this area isolated from the rest of the
region. The tax increment generated by this HTRZ will be used to benefit the neighborhood, and
ultimately the region as a whole, as opposed to a single project.
PROPOSED TERMS
LIGHT RAIL STOP: 200 West & 900 South
ACREAGE: 97.72
BASE YEAR: 2022
BASE YEAR VALUE: $212,262,833
TERM: 15-year phases over 30 year term
PARTICIPATION RATE: 80%
Executive Summary
SALT LAKE CITY - HOUSING AND TRANSIT REINVESTMENT ZONE
HTRZ SNAPSHOT
PROJECTED IMPACT
TOTAL TAX INCREMENT GENERATED: $443,228,676
GROWTH IN TAXABLE VALUE: $2,832,570,324
NON-RESIDENTIAL DEVELOPMENT: 3,067,105 SF
HOUSING UNITS: 10,214
AFFORDABLE UNITS: 2,043+
3
Proposed HTRZ Location
SALT LAKE CITY - HOUSING AND TRANSIT REINVESTMENT ZONE
Location Detail
Pursuant to State Code 63N-3-603(4)(b), the proposed HTRZ is located within a 1/2 mile of the light rail
(TRAX) stop at approximately 200 West and 900 South in Salt Lake City and also falls within an
Opportunity Zone (created pursuant to Section 1400Z-1, Internal Revenue Code). It incudes approximately
97.72 noncontiguous acres as highlighted in blue on the map above. The sales and use tax
boundary/parcels are the same as HTRZ boundary/parcels. See Exhibit A for a complete list of parcel ID
numbers included in the proposed HTRZ.
The proposed development area allows for a neighborhood-focused approach to supporting multi-modal
transportation infrastructure, affordable housing and transformative mixed-use development projects.
HTRZ BOUNDARY
HTRZ PARCELS
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SALT LAKE CITY - HOUSING AND TRANSIT REINVESTMENT ZONE
LAND USE SQUARE FOOTAGE (SF) /
COUNT
Commercial SF 1,147,263
Office SF 1,919,842
Hotel Rooms 441
Structured Parking Stalls 3,596
Housing Units 10,214
Affordable Housing Units (20%)2,043
Land Use
As diverse as the existing neighborhood is, so are the future land uses to be developed in the HTRZ
including small and large commercial spaces, spaces for artists and recreation, hotels, lab space, dense
office and housing development and much more. This HTRZ proposal and development model includes
parcels earmarked for specific development projects as well as parcels that are highly likely to develop over
the HTRZ's term. Highest and best use assumptions were used to determine the land uses on parcels most
likely to develop.
Based on the development model, approximately 54% of the developable acreage within the HTRZ will
incorporate residential uses for a total of 10,214 housing units averaging 104.5 dwelling units per acre. A
variety of residential unit types are anticipated to be built as a part of dense housing developments and
mixed-use projects alike. Unit sizes include micro units, studios, 1-bedroom, 2-bedroom, 3-bedroom and
townhomes with up to 4-bedrooms.
Development Plan
Phasing of Tax Increment Collection
177 parcels within the HTRZ are anticipated to be triggered for tax increment collection over three, 15-year
collection phases during the HTRZ's term. This phased approach recognizes the readiness of some
developers to begin construction while acknowledging that other parcels have not finalized development
details. Where development-specific information is available, those details have been included in the budget
calculations. However, for parcels where development details are yet to be finalized, the RDA modeled
development on parcels using zoning and the American Planning Association (APA) floor-to-area ratios to
determine the highest and best use. The first page of Exhibit F illustrates the estimated highest and best
use of developments too early in their planning process to have finalized numbers. The second page of
Exhibit F includes the absorption of development specific details for projects further along in the
development process and the combined assessed values expected.5
HTRZ Tax Increment & Budget
BUDGET ITEM TAX INCREMENT AMOUNT
Private Development Support (60%)$212,749,764
Public Development Support (39%)$138,287,347
RDA Administrative Costs (1%)$3,545,829
TOTAL TAX INCREMENT $354,582,941
SALT LAKE CITY - HOUSING AND TRANSIT REINVESTMENT ZONE
PROPERTY TAX INCREMENT GENERATION:
Over the HTRZ term, it is projected that a total of $443,228,676 in property tax increment will be
generated. With an 80% taxing entity participation rate, $354,582,941 may be available to support
HTRZ development. Projected tax increment generation has been broken down by taxing entity below.
TAXING ENTITY TOTAL TAX INCREMENT 80% TAX INCREMENT
Salt Lake County $61,371,419 $49,097,135
Multi County Assessing and Collecting $630,960 $504,768
County Assessing and Collecting $6,730,245 $5,384,196
Salt Lake City School District $182,852,335 $146,281,868
Salt Lake City $132,838,204 $106,270,563
Salt Lake City Library $25,995,570 $20,796,456
Salt Lake Metropolitan Water District $8,917,574 $7,134,059
Salt Lake City Mosquito Abatement District $7,066,757 $5,653,406
Central Utah Water Conservancy District $16,825,612 $13,460,489
TOTAL TAX INCREMENT $443,228,676 $354,582,941
HTRZ BUDGET BREAKDOWN:
The RDA proposes to utilize 60% of the tax increment funds generated within the HTRZ to support
private development projects with high levels of public benefit, 39% of the funds for public projects that
are needed to support the neighborhood, and the remaining 1% to cover administrative costs associated
with the HTRZ. See Exhibit E for the detailed tax increment budget.
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For this area to be built out in the most impactful way that
significantly increases the region’s housing stock, increases
public transit ridership, and connects individuals to work and
play, public subsidy is needed to fund a portion of the increased
construction costs associated with denser, transit-oriented
development (TOD). For example, the development of mid-
density buildings or the status quo with a commercial floor area
ratio (FAR) of 0.3; office FAR of 2.72; and 50 housing units per
acre (1,744 units total) equates to a total development cost of
$1,915,663,148 for the 97.72 acres included within the HTRZ.
Denser, more efficient, social impact development that benefits
the region with a commercial FAR 1-1.5; office FAR 3-4; and an
average of 104.5 housing units per acre (10,214 units total)
equates to a total development cost of $5,476,926,678. This
creates an estimated financial gap of $3.56 billion dollars for
increased construction costs associated with denser construction.
As discussed further in this application, public and private
development improvements such as the incorporation of
affordable housing, green space and other public benefits create
an even larger financial gap in addition to increased costs due to
denser construction. In this neighborhood in particular, public
infrastructure projects are not being completed at the rate
needed to support TOD due to limited funding.
Also of note, the analysis considers that without tax increment
support, at least 30% of the total land area within the HTRZ
would need to be reserved for right-of-way area and surface
parking, as opposed to only 15% if public funds were available to
support the increased costs associated with building more
efficient parking structures. Structured parking allows for more
efficient land use as well as increased green space.
Construction Gap Analysis
SALT LAKE CITY - HOUSING AND TRANSIT REINVESTMENT ZONE
Source: Oklahoma City Development Guide
Mid-Density (Status Quo) Development
High-Density TOD Development
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Meet all applicable HTRZ standards within Chapter 63N-3 of Utah State Code;
Meet the RDA's Sustainable Development Policy;
Include activated, ground floor space; and
Include a high level of public benefit such as affordable housing
The RDA anticipates funding private development projects within the HTRZ that incorporate high levels of
public benefit through tax increment reimbursement agreements (TIRA) or other forms of RDA support. In
addition to compliance with the RDA's TIRA policy and pursuant to RDA Board approval, RDA-funded
projects must generally:
Examples of public benefits that the RDA may consider funding have been described in greater detail
below. In addition to the increased construction costs created as a result of denser, transit-oriented
development, the incorporation of these public benefits will also increase private development costs and
the total financial gap.
Private Development Support
SALT LAKE CITY - HOUSING AND TRANSIT REINVESTMENT ZONE
ESTIMATED TAX INCREMENT CONTRIBUTION = $212,749,764
AFFORDABLE HOUSING
Supporting affordable housing is one of the RDA's top priorities. HTRZ
code requires that at least 10% of housing units within the HTRZ be
affordable to those earning 80% of the Area Median Income (AMI) or
below. The U.S. Department of Housing and Urban Development (HUD)
defines affordable housing as affordable to households earning 60% AMI
or less. To align with City and HUD definitions of affordability, the RDA
will target supporting projects with higher levels of affordability that
include at least 10% of units at 60% AMI or below. The RDA will work to
support an additional 10% of affordable units, through programs such as
the RDA’s Housing Development Loan Program, for a total of 20%.
Reviewing the reduction in rental revenue alone, the incorporation of
affordable housing for 20% of the units anticipated to be built within the
HTRZ (2,043 units) at 60% AMI is approximately $430.5 million over
the HTRZ term. This does not consider the capitalized value differential,
which increases the financial gap further. In general, apartment units
subject to rent restrictions have less value relative to comparable market-
rate units. The RDA intends to support a portion of the rental revenue
difference and value for affordable housing projects.
Rental support was estimated by using the 2022 CBRE Salt Lake County
multifamily monthly average rent of $1,623 compared to the the 2022
NOVOGRADAC Salt Lake County 60% AMI monthly rent for a 1-bedroom
unit of $1,152. Assuming a 3.6% vacancy rate as used by CBRE in their
2022 Great Salt Lake Area Multifamily Market Report and a rental growth
rate of 3.0% over time, market rate units would generate approximately
$1.48 billion in revenue over the HTRZ term. Affordable units at 60%
AMI would generate approximately $1.05 billion in revenue over the
HTRZ term - a difference of $430.5 million. See Exhibit H for additional
affordable housing details.
168 affordable units at 20%-80% AMI
The Aster - RDA Affordable Housing Project
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SALT LAKE CITY - HOUSING AND TRANSIT REINVESTMENT ZONE
SUSTAINABLE BUILDING CONSTRUCTION
To be eligible for a TIRA, the RDA's Sustainable Development Policy (Exhibit B) requires that new
developments are highly efficient, all-electric and incorporate on-site renewables. A proposed
development within the HTRZ calculated that 2.33% of their construction costs will go to sustainable
building design. Applied to the $5.48 billion of estimated constructions costs in the HTRZ, this equates
to $127.8 million that the RDA may partially support as a means to reduce carbon emissions and improve
the region's air quality.
STRUCTURED PARKING
Based on developer parking estimates, the cost differential is $21,256 per stall for structured parking.
With an average structured parking stall expense of $24,256 versus $3,000 per stall for surface parking,
this creates a total gap of $76,437,031 for the 3,596 structured parking stalls anticipated to be built
within the HTRZ. The RDA may support structured parking costs as a means to facilitate denser, transit-
oriented development and a more efficient land use.
PUBLIC ART & ENHANCED BUILDING DESIGN
All projects receiving RDA funding are highly encouraged to incorporate public art and enhanced building
design. Projects receiving an RDA loan can reduce their interest rate by incorporating public art. Salt Lake
City zoning regulations may also require more durable building materials and enhanced glazing in the
HTRZ. It is estimated that at least 1.5% of the $5.48 billion in HTRZ construction costs will go to public
art and enhanced building design that the RDA intends to support.
ADDITIONAL PUBLIC BENEFITS
The RDA's mission is centered around strengthening communities by promoting economic opportunity,
equity and inclusion and neighborhood vibrancy. These pillars are facilitated through multiple livability
benchmarks (listed below) that can add significant cost to development such as the incorporation of
public green space, affordable commercial space or adaptively reusing historic structures. The RDA will
support the inclusion of these benchmarks.
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PRIVATE PROJECT PROFILES
While numerous private development projects are in need of support to incorporate public
benefits within their projects and have been included in the tax increment analysis,
examples of two private projects likely to be supported with tax increment generated
within the HTRZ are highlighted below.
SALT LAKE CITY - HOUSING AND TRANSIT REINVESTMENT ZONE
Renovation of existing 13-story structure into 184
units
Renovation of existing Red Lion Hotel into new hotel
tower with 204 rooms
New 35-story residential tower with 325 housing
units, retail and structured parking
New 600,000 sq. ft. life science building with office
and lab space
LEED v4 Platinum and WELL v2 Gold certifications
REDEVELOPMENT PROJECT ON THE SOUTHWEST
CORNER OF 600 SOUTH AND WEST TEMPLE
INCLUDING THE RENOVATION OF TWO EXISTING
BUILDINGS, A NEW LIFE SCIENCES BUILDING AND
A HIGH-RISE RESIDENTIAL TOWER
SIXTH SOUTH GRANARY SQUARE
595,000 sq. ft. of commercial space
1,420 multifamily housing units with a variety of
bedroom counts
Structured parking with 1,424 stalls
New hotel with 120 rooms
BLOCK REDEVELOPMENT PROJECT AT APPROXIMATELY
700 - 800 SOUTH & 400 - 500 WEST WITH A VARIETY
OF USES
10
Public Development Support
SALT LAKE CITY - HOUSING AND TRANSIT REINVESTMENT ZONE
ESTIMATED TAX INCREMENT CONTRIBUTION = $138,287,347
PUBLIC PROPERTY ACQUISITION & ENVIRONMENTAL REMEDIATION
The RDA may acquire some distressed property within the proposed HTRZ to further activate the
neighborhood. With a conservative land value average of $65/SF or approximately $3 million/acre, acquisition
costs may range from $15,000,000-$20,000,000 for 5 acres dependent on market conditions at the time of
purchase. Additional funds will likely be needed for the environmental remediation within the HTRZ.
UTILITY IMPROVEMENTS
Because much of the HTRZ was built out to support industrial and manufacturing uses, existing infrastructure
including sewer, water, storm drains and roadways is not sufficient to support new development at the rate it
is occurring. Salt Lake City's Granary District Infrastructure Study (2016) specifically identified poor roadway
conditions and water mains under 6" in diameter as factors limiting new development (Exhibit C). Significant
public investment in utility improvements is also needed to complete the City's Grand Boulevards project -
aimed at improving the 500 & 600 South thoroughfares that serve as the grand entryway and exit to Utah's
state capitol. The burial of electrical lines along 600 South alone is estimated to cost $50 million. The RDA
may provide a portion of funding for these large capital projects.
STREETSCAPE & SAFETY IMPROVEMENTS
Improving existing streetscape conditions to increase walkability and general safety within the HTRZ is one of
the community's top priorities. The Granary District Alliance reported the lack of continuous and safe
sidewalks and bike lanes as a pressing issue for pedestrians. Numerous auto accidents are caused by vehicles
circumventing old rail tracks. Businesses have also commented that limited accessibility has made it difficult
for them to succeed in the area. At least 25,700 feet of streetscape improvements are needed to support
development in the HTRZ (Exhibit D) that include remedies to the aforementioned issues.
Additionally, streetscape improvements would be inclusive of the city's Green Loop project - a linear park
system connected by pedestrian and bike paths through the HTRZ and beyond. Similar linear park projects
like Chicago's 606 Trail cost $95 million for 2.7 miles and Miami's Underline cost $120 million for 4 miles.
Salt Lake City's Green Loop has the potential to create 60 acres of forest integrated into 5.5 miles of city
streets. The RDA may provide a portion of funding for these large capital projects.
The RDA anticipates funding public development projects that support the rapid private development
currently taking place within the HTRZ and that have a wide-reaching, community impact such as the
City's Grand Boulevards and Green Loop projects. Significant public projects like these that support
neighborhood vitality will likely have associated costs incurred outside of the HTRZ boundaries.
Distribution of funds to public projects is subject to city department and RDA Board approval.
Examples of public project costs that the RDA may consider funding have been described below. As is
typical, large capital projects will be funded by multiple sources. Ultimately, the RDA may provide gap
funding for those capital projects with a quantifiable - and generally unforeseen - need.
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SALT LAKE CITY - HOUSING AND TRANSIT REINVESTMENT ZONE
PUBLIC TRANSIT SUPPORT
Connecting this neighborhood to the rest of the Wasatch Front is of the utmost importance, especially as a
means to get people to jobs, educational and recreational opportunities. Utah Transit Authority's (UTA)
Future of Light Rail Study (2022) explores the expansion of light rail through the HTRZ, expanding the
network along the Ballpark Spur to 400 West and extending the University Line west of Main Street along
400 South for a total cost of $123,940,000. Given that many higher education institutions such as the
University of Utah, Westminster College, Brigham Young University and Salt Lake Community College offer
free UTA transit passes to students and faculty, the importance of integrated and expanded public transit
will only further the ability of HTRZs to reduce vehicle trips, air pollution and fuel consumption, thereby
improving overall air quality. The transit network will provide residents increased access to employment
opportunities. Multiple funding sources will be needed to implement such a significant capital project in
addition to promoting other forms of public transit.
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PUBLIC PROJECT PROFILES
Multiple, large public projects are in need of funding to support growth and well-being of
residents in this area. Two examples of these monumental projects are described in more
detail below. See Exhibit D for a map of infrastructure improvements included in the
proposed HTRZ public benefits.
SALT LAKE CITY - HOUSING AND TRANSIT REINVESTMENT ZONE
Green Loop
Running along 500 West and 900 South in the
proposed HTRZ
Featuring a walking path, bike path and spaces for
recreation and ecological services
Promotes economic development and decreased
carbon emissions
Significant public investment - similar project in
Chicago cost $95 million for 2.7 miles of trail
LINEAR PARK SYSTEM CONCEPT CONNECTING
GREENSPACES THROUGH AND TO THE WEST OF
SALT LAKE CITY'S DOWNTOWN
Grand Boulevards
IMPROVEMENTS TO TWO MAJOR BOULEVARDS
ALONG 500 SOUTH AND 600 SOUTH IN THE
PROPOSED HTRZ TO CREATE GRAND ENTRIES INTO
THE CENTRAL BUSINESS DISTRICT
Create a memorable and inspiring experience for
locals and international visitors entering and
exiting the capital city, particularly by automobile.
Bury the electrical transmission and distribution
lines on 600 South
Address the numerous billboards located along
each corridor
Significant public investment - burial of power lines
on 600 South estimated to be $50 million
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Sales Tax Analysis
ITEM VALUE
Sales Tax Base Year TY 2022
Taxable Sales Base Year Value ($) $16,997,325
Total Incremental Taxable Sales $5,493,025,953
Total Sales Tax to TTIF $46,402,249
SALT LAKE CITY - HOUSING AND TRANSIT REINVESTMENT ZONE
SALES & USE TAX BASE YEAR VALUE:
The sales and use tax boundary is the same as HTRZ boundary and includes the HTRZ parcels (Exhibit A).
The 2022 sales tax base year value was calculated using the $12,335,303,681 total taxable sales revenue
for Salt Lake City. Using the City's taxable sales and total acreage, a proportion was created to determine an
approximate base year taxable sales value for the HTRZ. The HTRZ represents 0.14% of Salt Lake City
acreage and was assumed to account for 0.14% of taxable sales, providing a taxable sales base year value of
$16,997,325.
SALES TAX GENERATION:
The Salt Lake City commercial gross taxable sales were divided by the City's estimated commercial square
footage to calculate an average commercial sales per square foot value of $251. Online sales per resident
are estimated to be $2,301 per year. Using the projected absorption of residential and commercial
development, taxable sales were projected for the HTRZ term. A 3% annual growth rate was applied to
taxable sales. The total incremental taxable sales during the HTRZ term is projected to be $5,493,025,953,
or an average of $323,119,174 per year. The total sales tax generated for the Transit Transportation
Investment Fund (TTIF) is estimated at $46,402,249. Exhibit G includes additional details regarding the
estimated sales tax generation.
14
Utah Code - 63N-3-603. Applicability, requirements and limitations on a Housing and Transit Reinvestment
Zone.
Objectives – A Housing and Transit Reinvestment Zone proposal created under this part shall promote the
following objectives:
SECTION DESCRIPTION HTRZ APPLICABILITY
(1)(a)Higher utilization of public
transit.
The proposed HTRZ is located just southwest of Salt Lake City’s downtown
and centered around the TRAX stop at approximately 200 West and 900
South within a half mile of two additional stops to the north and south. The
9 Line Trail, which the City is currently working to improve for pedestrians
and cyclists alike, runs east to west directly through the center of the
proposed HTRZ making it a very connected, transit-oriented location. The
current scale of development in the area doesn’t take full advantage of the
existing public transit and associated public benefits. Additionally, UTA
plans to extend TRAX within the HTRZ.
Anticipated development supported by the HTRZ includes approximately
10,214 residential units, 1,147,263 square feet of commercial space,
1,919,842 square feet of office space and 441 hotel rooms. These projects
will greatly increase the population, employment and visitors within a
walkable distance of light rail, bus stops and bike trails in the area and thus
should result in a much higher utilization of public transit.
(1)(b)
Increasing availability of
housing, including
affordable housing.
State Code requires that at least 10% of the proposed dwelling units within
an HTRZ are affordable at 80% AMI. The RDA will target supporting projects
with a higher level of affordability at 60% AMI. This equates to
approximately 1,021 affordable units with rent estimated at $1,152 per
month based on the NOVOGRADAC's 2022 60% AMI for a Salt Lake County
1-bedroom rent limit.
(1)(c)
Conservation of water
resources through efficient
land use.
The creation of this HTRZ will promote denser and therefore more water wise
and efficient urban development. The lack of individual lawns and gardens
as compared to single family housing lots will reduce the amount of water
necessary to maintain green spaces. The RDA’s Sustainable Development
Policy also requires projects receiving funding to earn an ENERGY STAR
score of at least 90, significantly reducing water consumption through the
use of water efficient appliances like washing machines and dishwashers.
See Exhibit B for additional policy details.
HTRZ State Code Alignment
SALT LAKE CITY - HOUSING AND TRANSIT REINVESTMENT ZONE
15
Utah Code - 63N-3-603. Applicability, requirements, and limitations on a housing and transit reinvestment
zone.
Objectives – A housing and transit reinvestment zone proposal created under this part shall promote the
following objectives:
SECTION DESCRIPTION HTRZ APPLICABILITY
(1)(d)
Improving air quality by
reducing fuel consumption
and motor vehicle trips.
Denser, more efficient development so close to multiple forms of transit,
jobs and urban amenities will significantly reduce the number of motor
vehicle trips per household.
Additionally, the RDA’s Sustainable Development Policy requires projects
receiving funding to earn an ENERGY STAR score of at least 90 and be all-
electric. Projects that receive a tax increment reimbursement must utilize
on-site renewable energy to supply at least 50% of the building’s annual
energy consumption to reduce use of fossil fuels and improve air quality.
(1)(e)
Encouraging transformative
mixed-use development
and investment in
transportation and public
transit infrastructure in
strategic areas.
The proposed HTRZ covers much of the Granary District, which once
housed most of the city’s manufacturing, processing and storage
businesses. This neighborhood and the historic warehouse buildings within
it are now being adaptively reused to support a mix of land uses including
housing, hotels, entertainment venues, local businesses and much more.
The former sprawling warehouse district will see transformative new growth
with its life science and technology focused employment opportunities,
entertainment and housing.
Investment in public transit expansion that this HTRZ would support is
needed to connect people to the new development in the neighborhood and
further connect commuters to the FrontRunner commuter rail. Additional
public transit access to education and employment centers like the
University of Utah and Salt Lake Community College would further
enhance the integration of the HTRZ into the greater Wasatch Front.
(1)(f)
Strategic land use and
municipal planning in
major transit investment
corridors as described in
Subsection 10-9a-403(2).
The proposed HTRZ intersects three light rail stations and is within a mile
of the FrontRunner Station at approximately 300 South and 500 West.
UTA’s Future of Light Rail study proposes the extension of TRAX within
this HTRZ area. The area is within ¾ mile of I-15 interchanges and
encompasses 600 South, or the “grand entryway” into Utah’s capital city
from I-15 and the Salt Lake City International Airport.
(1)(g)
Increasing access to
employment and
educational opportunities.
Numerous jobs will be created as a result of development within the
proposed HTRZ. The University of Utah has also partnered with the Stena
Center for Financial Technology to establish an entrepreneur center in the
HTRZ boundary with a focus on industry-sponsored labs, a start-up
incubator and fintech-focused degrees and certifications.
16
Requirements – In order to accomplish the objectives described in subsection 63N-3-603(1), a municipality
that initiates the process to create a Housing and Transit Reinvestment Zone as described in this part shall
ensure that the proposal for a Housing and Transit Reinvestment Zone includes:
SECTION DESCRIPTION HTRZ APPLICABILITY
(2)(a)
At least 10% of the proposed
dwelling units within the
Housing and Transit
Reinvestment Zone are
affordable housing units.
It's estimated that at least 20% or 2,043 of the 10,214 dwelling units
projected to be constructed within the HTRZ will be affordable. The
RDA will target supporting affordable housing projects with 10% of
units at 60% AMI and typically support mixed-income projects with
even higher percentages of affordable units.
(2)(b)
At least 51% of the
developable area within the
Housing and Transit
Reinvestment Zone includes
residential uses, except as
provided in subsection (4)(c),
with an average of 50 dwelling
units per acre or greater.
52.89 acres of the 97.72 developable acres, or 54.1% of the
developable land, is planned for residential development. Across the
HTRZ, the proposed density is 104.5 residential units/acre.
(2)(c)Mixed-use development.
The HTRZ incorporates mixed-use development with active ground floor
uses. Preliminary project proposals have indicated that ground floor
uses are planned. Additionally, the RDA will encourage the support of
local, women and minority-owned businesses as part of mixed-use
development projects.
(2)(d)
A mix of dwelling units to
ensure that a reasonable
percentage of the dwelling
units has more than one
bedroom.
The HTRZ incorporates a mix of studios, 1-bedroom, 2-bedroom, 3-
bedroom and townhomes with up to 4-bedrooms. The currently proposed
developments within the HTRZ incorporate this mixture of bedroom
counts. The mix of dwelling unit sizes will be reviewed by the RDA to
ensure compliance with State Code at the time a funding request is
received.
17
SALT LAKE CITY - HOUSING AND TRANSIT REINVESTMENT ZONE
Additional incentives, grants and sources of revenue to reduce
the finance gap
Annual HTRZ tax increment revenues will be leveraged with various other funds and tools
administered by the RDA, SLC Department of Community and Neighborhoods, SLC Department of
Economic Development and the State and Federal Governments. Leveraging funds and tools will
allow the RDA to maximize the reach and impact of HTRZ development activities by focusing
resources in a coordinated manner. Resources available to leverage include:
Low-Income Housing Tax Credit Program (LIHTC): The LIHTC program supported by the federal
government provides a tax incentive to construct or rehabilitate affordable rental housing for low-
income households.
Salt Lake City Economic Development Loan Fund: The Economic Development Loan Fund (EDLF)
provides loans to small businesses located in the City for the purpose of stimulating economic
development by enhancing business opportunities, providing employment and promoting
neighborhood revitalization.
Salt Lake City Neighborhood Building Improvement Program: The Neighborhood Building
Improvement Program (NBIP) provides grants up to $25,000 for façade improvement projects to
revitalize neighborhood commercial areas, enhance the livability of adjacent communities and
support local businesses.
EPA Brownfields Revolving Loan Fund: Salt Lake County’s EPA Revolving Loan Fund offers loans
from $10,000 to $500,000 to entities redeveloping qualified brownfield sites.
Commercial Property Assessed Clean Energy (C-PACE): The C-PACE program supported by the
State makes full financing options available to businesses and multi-family rental properties that
have long-term repayment options. This program was designed to help businesses afford the
upgrades needed for energy efficiency, install renewable energy systems and help improve Utah’s
air quality while reducing their carbon footprint.
Redevelopment Agency of Salt Lake City Housing Development Loan Program: Salt Lake City’s
Housing Development Loan Program addresses the health, safety and welfare of the City’s citizens
by providing below-market financing for affordable and special needs housing within municipal
boundaries. The program provides a centrally located and uniform application process across all
funding sources, providing a one-stop-shop to apply for funds for the development, rehabilitation
and preservation of affordable housing.
18
Exhibit A
Parcel ID List
19
Parcel number Lot Size Taxable Value (2022)Tax Area Rate (2022)2022 Land Value % Residential Residential Acreage
15-01-451-013-0000 5.02 25,579,821 13 0.010537 12,797,990 100.0%5.02
15-12-130-018-0000 0.42 1,346,000 02A 0.010537 639,600 76.0%0.32
15-12-130-019-0000 0.2 545,800 02A 0.010537 114,800 76.0%0.15
15-12-130-020-0000 0.31 853,400 02A 0.010537 178,000 76.0%0.24
15-12-130-023-0000 0.61 394,000 02A 0.010537 345,000 76.0%0.46
15-12-131-005-0000 0.25 735,600 02A 0.010537 261,400 76.0%0.19
15-12-204-008-0000 0.12 210,300 02A 0.010537 208,200 76.0%0.09
15-12-204-025-0000 0.03 60,800 02A 0.010537 55,800 76.0%0.02
15-12-204-024-0000 0.08 97,600 02A 0.010537 97,600 76.0%0.06
15-12-204-006-0000 0.08 97,600 02A 0.010537 97,600 76.0%0.06
15-12-131-001-0000 0.33 355,600 02A 0.010537 345,000 76.0%0.25
15-12-130-011-0000 0.05 44,600 02A 0.010537 39,600 76.0%0.04
15-12-204-005-0000 0.1 263,900 02A 0.010537 95,000 76.0%0.08
15-12-130-010-0000 0.05 184,100 02A 0.010537 120,600 76.0%0.04
15-12-204-028-0000 0.07 88,000 02A 0.010537 85,400 76.0%0.05
15-12-130-011-0000 0.05 44,600 02A 0.010537 39,600 76.0%0.04
15-12-130-009-0000 0.05 28,300 02A 0.010537 28,300 76.0%0.04
15-12-204-029-0000 0.0902 88,000 02A 0.010537 85,400 176.0%0.16
15-12-252-031-0000 0.12 249,800 01K 0.010537 239,000 76.0%0.09
15-12-252-030-0000 0.08 198,800 01K 0.010537 160,300 76.0%0.06
15-12-252-029-0000 0.1 153,700 01K 0.010537 151,300 76.0%0.08
15-12-252-028-0000 0.1 195,200 01K 0.010537 158,400 76.0%0.08
15-12-204-017-0000 0.48 1,240,400 02A 0.010537 831,600 76.0%0.36
15-12-181-001-0000 0.22 1,115,700 02A 0.010537 156,200 76.0%0.17
15-12-181-002-0000 0.14 233,500 02A 0.010537 228,500 76.0%0.11
15-12-180-001-0000 0.22 $363,800 02A 0.010537 $345,000 100.0%0.22
15-12-180-017-0000 0.5 $866,100 02A 0.010537 $846,500 100.0%0.50
15-12-251-001-0000 8.75 $0 02A 0.010537 $14,950,000 62.0%5.43
15-12-177-007-0000 1.26 $3,009,200 02A 0.010537 $2,494,500 50.0%0.63
15-01-379-017-0000 1.19 $1,002,700 02A 0.010537 $633,200 0.0%0.00
15-12-127-007-0000 1.63 $4,800,700 02A 0.010537 $1,562,100 0.0%0.00
15-12-130-016-0000 0.7 $433,700 02A 0.010537 $399,800 50.0%0.35
15-12-130-013-0000 0.16 $145,500 02A 0.010537 $145,500 50.0%0.08
15-12-130-014-0000 0.08 $49,200 02A 0.010537 $44,200 50.0%0.04
15-12-130-026-0000 0.57 $551,200 02A 0.010537 $531,900 50.0%0.29
15-01-478-018-0000 4.4 $20,238,200 13 0.010537 $9,530,600 27.3%1.20
15-01-478-009-0000 0.32 $547,400 13 0.010537 $455,700 27.3%0.09
15-12-127-014-0000 02A 75.0%0.00
15-01-379-023-0000 02A 75.0%0.00
15-12-108-007-0000 0.73 1,413,300 13 0.010537 911,000 100.0%0.73
15-12-108-003-0000 1.51 $2,116,800 13 0.010537 $2,045,200 0.0%0.00
15-12-129-012-0000 1.41 $3,592,300 02A 0.010537 $2,462,800 0.0%0.00
15-12-129-011-0000 2.38 $6,217,300 02A 0.010537 $3,197,000 0.0%0.00
15-12-129-009-0000 0.82 $1,169,000 02A 0.010537 $1,169,000 0.0%0.00
15-12-129-006-0000 0.87 $3,086,700 02A 0.010537 $1,172,200 0.0%0.00
15-12-129-005-0000 0.19 $446,500 02A 0.010537 $296,100 0.0%0.00
15-12-129-003-0000 0.09 $155,200 02A 0.010537 $155,200 0.0%0.00
15-12-129-004-0000 0.22 $328,900 02A 0.010537 $328,900 0.0%0.00
15-12-129-002-0000 0.13 $859,000 02A 0.010537 $227,400 0.0%0.00
15-01-476-006-0000 1.34 $3,873,100 13 0.010537 $3,619,500 100.0%1.34
15-12-129-015-0000 0.61 $1,737,700 02A 0.010537 $345,400 93.0%0.57
15-12-129-014-0000 0.3 $183,900 02A 0.010537 $169,900 93.0%0.28
15-12-129-007-0000 0.31 $293,300 02A 0.010537 $293,300 93.0%0.29
15-12-210-002-0000 0.44 $850,300 01K 0.010537 $850,300 100.0%0.44
15-01-454-009-0000 0.16 $440,500 02A 0.010537 $361,900 100.0%0.16
15-01-454-014-0000 0.47 $1,505,000 02A 0.010537 $1,094,700 100.0%0.47
15-12-201-010-0000 1.42 $4,980,100 02A 0.010537 $1,979,400 100.0%1.42
15-01-380-017-0000 4.94 $9,561,300 02A 0.010537 $9,561,300 60.0%2.96
15-12-228-020-0000 0.84 $2,367,900 01K 0.010537 $1,170,900 93.0%0.78
20
Parcel number Lot Size Taxable Value (2022)Tax Area Rate (2022)2022 Land Value % Residential Residential Acreage
15-12-228-019-0000 0.93 $1,980,400 01K 0.010537 $1,969,400 93.0%0.86
15-12-228-014-0000 0.07 $294,400 01K 0.010537 $164,600 93.0%0.07
15-01-479-022-0000 3.127 $8,172,000 01K 0.010537 $7,288,400 65.0%2.03
15-12-203-006-0000 0.16 $361,900 01K 0.010537 $361,900 75.0%0.12
15-12-203-007-0000 0.14 $394,200 01K 0.010537 $339,500 75.0%0.11
15-12-203-012-0000 0.08 $213,000 01K 0.010537 $213,000 75.0%0.06
15-12-277-014-0000 0.4 $468,800 01K 0.010537 $460,100 75.0%0.30
15-12-277-021-0000 0.79 $10,214,930 01K 0.010537 $1,732,200 75.0%0.59
15-12-278-001-0000 0.62 $2,119,500 01K 0.010537 $1,069,700 75.0%0.47
16-07-151-001-0000 01K 0.010537 75.0%0.00
15-12-204-033-0000 0.39 3,051,400 02A 1,018,600 0.0%0.00
15-12-204-018-0000 0.46 1,439,200 02A 479,200 0.0%0.00
15-12-204-026-0000 0.08 81,700 02A 81,700 0.0%0.00
15-12-255-012-0000 0.11 241,900 02A 241,900 0.0%0
15-12-255-026-0000 0.34 737,500 02A 684,900 0.0%0
15-12-278-002-0000 0.35 $616,000 01K 0.010537 $616,000 75.0%0.26
15-12-278-019-0000 0.42 $1,020,700 01K 0.010537 $1,017,700 75.0%0.32
15-12-278-021-0000 0.41 $603,000 01K 0.010537 $603,000 75.0%0.31
15-12-278-026-0000 0.53 $2,481,100 01K 0.010537 $816,900 75.0%0.40
15-12-278-028-0000 0.08 $58,500 01K 0.010537 $58,500 75.0%0.06
15-12-278-031-0000 0.19 $348,900 01K 0.010537 $348,900 75.0%0.14
15-12-276-015-0000 0.2 $125,785 01K 0.010537 $213,800 0.0%0.00
15-12-206-013-2000 0.1 $0 01K 0.010537 $154,700 0.0%0.00
15-12-206-013-6000 0.1 $433,452 01K 0.010537 $192,290 0.0%0.00
15-12-206-015-2000 0.09 $0 01K 0.010537 $78,400 0.0%0.00
15-12-206-015-6000 0.09 $78,000 01K 0.010537 $78,000 0.0%0.00
15-12-206-016-2000 0.09 $0 01K 0.010537 $78,400 0.0%0.00
15-12-206-016-6000 0.09 $243,900 01K 0.010537 $78,400 0.0%0.00
15-12-206-017-0000 0.1 $0 01K 0.010537 $87,100 0.0%0.00
15-12-207-001-0000 0.34 $0 01K 0.010537 $486,900 0.0%0.00
15-12-207-002-0000 0.22 $0 01K 0.010537 $321,000 0.0%0.00
15-12-207-012-0000 0.1 $0 01K 0.010537 $97,100 0.0%0.00
15-12-207-013-0000 0.84 $0 01K 0.010537 $1,178,400 0.0%0.00
15-12-209-010-0000 0.2 $526,300 01K 0.010537 $284,700 0.0%0.00
15-12-253-014-0000 0.2 $604,600 01K 0.010537 $408,900 0.0%0.00
15-12-254-010-0000 0.1 $203,390 01K 0.010537 $142,600 0.0%0.00
15-12-254-011-0000 0.1 $278,190 01K 0.010537 $142,600 0.0%0.00
15-12-276-016-0000 0.11 $149,820 01K 0.010537 $147,200 0.0%0.00
15-12-276-018-0000 0.09 $155,000 01K 0.010537 $151,200 0.0%0.00
15-12-276-034-0000 0.42 $896,100 01K 0.010537 $896,100 0.0%0.00
15-01-454-018-0000 0.63 $1,849,000 02A 0.010537 $1,841,900 60.0%0.38
15-12-129-010-0000 1.25 $1,555,500 02A 0.010537 $1,010,400 60.0%0.75
15-12-129-013-0000 1.09 $1,505,600 02A 0.010537 $1,180,300 60.0%0.65
15-12-130-002-0000 0.83 $471,000 02A 0.010537 $470,000 60.0%0.50
15-12-130-024-0000 0.51 $1,968,200 02A 0.010537 $288,900 60.0%0.31
15-12-130-027-0000 0.2 $340,500 02A 0.010537 $176,700 60.0%0.12
15-12-130-028-0000 0.01 $6,600 02A 0.010537 $6,600 60.0%0.01
15-12-156-001-0000 0.12 $85,200 02A 0.010537 $85,200 60.0%0.07
15-12-157-001-0000 0.14 $95,300 02A 0.010537 $95,300 60.0%0.08
15-12-157-002-0000 0.18 $117,000 02A 0.010537 $117,000 60.0%0.11
15-12-176-002-0000 0.63 $1,227,200 02A 0.010537 $571,700 60.0%0.38
15-12-176-005-0000 1.3 $2,954,700 02A 0.010537 $1,189,200 60.0%0.78
15-12-176-007-0000 1.12 $2,347,800 02A 0.010537 $1,024,500 60.0%0.67
15-12-176-011-0000 1.25 $1,449,100 02A 0.010537 $1,143,500 60.0%0.75
15-12-179-009-0000 1.05 $1,704,600 02A 0.010537 $1,646,600 69.0%0.72
15-12-181-005-0000 0.21 $220,500 02A 0.010537 $215,500 60.0%0.13
15-12-182-003-0000 0.2 $198,220 02A 0.010537 $93,100 69.0%0.14
15-12-182-004-0000 0.11 $178,695 02A 0.010537 $76,300 69.0%0.08
15-12-182-005-0000 0.12 $182,200 02A 0.010537 $182,200 69.0%0.08
15-12-182-006-0000 3.15 $4,977,500 02A 0.010537 $4,939,700 69.0%2.17
21
Parcel number Lot Size Taxable Value (2022)Tax Area Rate (2022)2022 Land Value % Residential Residential Acreage
15-12-183-008-0000 0.39 $386,600 02A 0.010537 $375,500 60.0%0.23
15-12-183-009-0000 0.14 $126,900 02A 0.010537 $126,900 60.0%0.08
15-12-326-001-0000 0.23 $207,900 02A 0.010537 $207,900 60.0%0.14
15-12-326-002-0000 0.04 $36,600 02A 0.010537 $36,600 60.0%0.02
15-12-326-003-0000 0.44 $813,400 02A 0.010537 $399,100 60.0%0.26
15-12-326-004-0000 0.24 $1,345,300 02A 0.010537 $219,500 60.0%0.14
15-12-326-005-0000 0.86 $789,000 02A 0.010537 $789,000 60.0%0.52
15-12-326-007-0000 0.71 $705,200 02A 0.010537 $649,500 60.0%0.43
15-12-326-008-0000 0.23 $350,000 02A 0.010537 $210,400 60.0%0.14
15-12-327-001-0000 0.49 $449,300 02A 0.010537 $448,200 60.0%0.29
15-01-454-019-0000 0.01 $23,500 02A 0.010537 $23,500 75.0%0.01
15-12-201-007-0000 0.11 $245,900 02A 0.010537 $245,900 75.0%0.08
15-12-255-002-0000 0.1 $202,840 02A 0.010537 $82,600 75.0%0.08
15-12-255-007-0000 0.18 $764,300 02A 0.010537 $188,200 75.0%0.14
15-12-255-011-0000 0.08 $133,300 02A 0.010537 $133,300 75.0%0.06
15-12-255-020-0000 0.08 $198,800 02A 0.010537 $198,800 75.0%0.06
15-12-255-024-0000 0.26 $271,800 02A 0.010537 $271,800 75.0%0.20
15-12-255-025-0000 0.06 $233,700 02A 0.010537 $62,700 75.0%0.05
15-12-255-027-0000 0.01 $1,210 02A 0.010537 $2,200 75.0%0.01
15-12-255-028-0000 0.07 $199,265 02A 0.010537 $69,500 75.0%0.05
15-12-255-029-0000 0.45 $2,342,600 02A 0.010537 $784,100 75.0%0.34
15-12-255-030-0000 0.1 $104,500 02A 0.010537 $104,500 75.0%0.08
15-12-255-031-0000 0.34 $1,259,800 02A 0.010537 $610,300 75.0%0.26
15-12-255-032-0000 0.54 $653,900 02A 0.010537 $573,200 75.0%0.41
15-01-478-003-0000 0.15 811,200 13 734,300 65.0%0.10
15-01-478-001-0000 0.12 396,100 13 396,100 65.0%0.08
15-01-478-002-0000 0.04 137,200 13 137,200 65.0%0.03
15-01-478-017-0000 0.16 447,400 13 361,900 65.0%0.10
15-01-478-019-0000 0.2 $509,100 13 0.010537 $509,100 65.0%0.13
15-12-303-001-0000 0.12 $94,400 02A 0.010537 $94,400 60.0%0.07
15-12-303-002-0000 0.21 $205,300 02A 0.010537 $165,200 60.0%0.13
15-12-303-003-0000 0.08 $62,900 02A 0.010537 $62,900 60.0%0.05
15-12-303-004-0000 0.09 $70,800 02A 0.010537 $70,800 60.0%0.05
15-12-207-004-0000 0.24 $574,800 01K 0.010537 $550,200 75.0%0.18
15-12-207-003-0000 0.05 $76,600 01K 0.010537 $76,600 75.0%0.04
15-12-207-016-0000
15-12-254-086-0000 0.2 $932,635 01K 0.010537 $447,200 0.0%0.00
15-12-254-003-0000 0.2 $485,400 01K 0.010537 $447,200 75.0%0.15
15-12-157-003-0000 0.21 $310,200 02A 0.010537 $310,200 60.0%0.13
15-12-130-025-0000 0.73 2,075,900 02A 413,300 0.0%0.00
15-12-227-009-0000 0.66 $1,456,900 13 0.010537 $1,417,600 75.0%0.50
15-12-227-004-0000 0.19 $602,635 13 0.010537 $707,400 65.0%0.12
15-12-478-019-0000 4.3 0 13H 0.0%0
15-12-228-015-0000 0.0564 $326,100 01K 0.010537 $155,600 75.0%0.04
15-12-252-035-0000 0.8 $1,358,100 01K 0.010537 $1,130,700 75.0%0.60
15-12-153-004-0000 5 $11,166,700 02A 0.010537 $4,573,800 60.0%3.00
15-12-253-029-0000 1.3 $2,423,300 01K 0.010537 $1,752,600 75.0%0.98
15-01-378-031-0000 0.42 $1,066,100 13 0.010537 $1,064,100 100.0%0.42
15-01-453-005-0000 0.12 $167,300 13 0.010537 $167,300 75.0%0.09
15-01-453-006-0000 0.14 $195,100 13 0.010537 $195,100 75.0%0.11
15-01-453-007-0000 0.11 $704,300 13 0.010537 $704,300 75.0%0.08
15-12-263-001-0000 0.2 $141,845 01K 0.010537 $213,800 100.0%0.20
15-12-263-006-0000 01K 0.010537 100.0%0.00
15-12-263-005-0000 01K 0.010537 100.0%0.00
15-12-263-002-0000 01K 0.010537 100.0%0.00
15-12-263-003-0000 01K 0.010537 100.0%0.00
TOTALS:97.72 $212,262,833 221 52.89
TRUE % Residential:54.1%
22
Exhibit B
Sustainable Development Policy Infographic
Link to full Sustainable Development Policy:
https://slcrda.com/wp-content/uploads/2022/10/Final-Sustainable-Development-Policy-
Resolution_NOFA.pdf 23
Exhibit C
Granary Infrastructure Improvements
Link to The Downtown Plan:
http://www.slcdocs.com/Planning/MasterPlansMaps/Downtown.pdf
24
Exhibit D
Public Infrastructure Improvements Included in HTRZ Public Benefits
25
Exhibit D Continued
Public Infrastructure Improvements Included in HTRZ Public Benefits & Parcels
26
Exhibit E
Tax Increment Budget
27
REDEVELOPMENT AGENCY OF SALT LAKE CITY
HTRZ Project Area: 900 South 200 West Rate
Taxing Entity
Participation:
Participation: Phase
III
Multi-year Tax Increment and Cash Flow Analysis (HTRZ Mixed-Use Development)4%80%80%
INCREMENTAL PROPERTY TAX ANALYSIS:YR 1 YR 2 YR 3 YR 4 YR 5 YR 6 YR 7 YR 8 YR 9 YR 10 YR 11 YR 12 YR 13 YR 14 YR 15 YR 16 YR 17
Assessed Value 468,768,698 1,806,236,775 3,044,833,157 3,044,833,157 3,044,833,157 3,044,833,157 3,044,833,157 3,044,833,157 3,044,833,157 3,044,833,157 3,044,833,157 3,044,833,157 3,044,833,157 3,044,833,157 3,044,833,157 2,576,064,459 1,238,596,383
(Less Base Year Value)(212,262,833) (212,262,833) (212,262,833) (212,262,833) (212,262,833) (212,262,833) (212,262,833) (212,262,833) (212,262,833) (212,262,833) (212,262,833) (212,262,833) (212,262,833) (212,262,833) (212,262,833) (212,262,833) (212,262,833)
TOTAL INCREMENTAL VALUE:256,505,865 1,593,973,942 2,832,570,324 2,832,570,324 2,832,570,324 2,832,570,324 2,832,570,324 2,832,570,324 2,832,570,324 2,832,570,324 2,832,570,324 2,832,570,324 2,832,570,324 2,832,570,324 2,832,570,324 2,363,801,626 1,026,333,550
CDA PROJECT AREA BUDGET Payment Year 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042
Sources of Funds:Tax Year YR 1 YR 2 YR 3 YR 4 YR 5 YR 6 YR 7 YR 8 YR 9 YR 10 YR 11 YR 12 YR 13 YR 14 YR 15 YR 16 YR 17
INCREMENTAL TAX BY TAXING ENTITY 2022 TOTALS NPV
Salt Lake County 0.001459 374,242 2,325,608 4,132,720 4,132,720 4,132,720 4,132,720 4,132,720 4,132,720 4,132,720 4,132,720 4,132,720 4,132,720 4,132,720 4,132,720 4,132,720 3,448,787 1,497,421 61,371,419 41,610,150
Multi County Assessing and Collecting 0.000015 3,848 23,910 42,489 42,489 42,489 42,489 42,489 42,489 42,489 42,489 42,489 42,489 42,489 42,489 42,489 35,457 15,395 630,960 427,795
County Assessing and Collecting 0.000160 41,041 255,036 453,211 453,211 453,211 453,211 453,211 453,211 453,211 453,211 453,211 453,211 453,211 453,211 453,211 378,208 164,213 6,730,245 4,563,142
Salt Lake City School District 0.004347 1,115,031 6,929,005 12,313,183 12,313,183 12,313,183 12,313,183 12,313,183 12,313,183 12,313,183 12,313,183 12,313,183 12,313,183 12,313,183 12,313,183 12,313,183 10,275,446 4,461,472 182,852,335 123,974,862
Salt Lake City 0.003158 810,046 5,033,770 8,945,257 8,945,257 8,945,257 8,945,257 8,945,257 8,945,257 8,945,257 8,945,257 8,945,257 8,945,257 8,945,257 8,945,257 8,945,257 7,464,886 3,241,161 132,838,204 90,065,014
Salt Lake City Library 0.000618 158,521 985,076 1,750,528 1,750,528 1,750,528 1,750,528 1,750,528 1,750,528 1,750,528 1,750,528 1,750,528 1,750,528 1,750,528 1,750,528 1,750,528 1,460,829 634,274 25,995,570 17,625,136
Salt Lake Metropolitan Water District 0.000212 54,379 337,922 600,505 600,505 600,505 600,505 600,505 600,505 600,505 600,505 600,505 600,505 600,505 600,505 600,505 501,126 217,583 8,917,574 6,046,163
Salt Lake City Mosquito Abatement District 0.000168 43,093 267,788 475,872 475,872 475,872 475,872 475,872 475,872 475,872 475,872 475,872 475,872 475,872 475,872 475,872 397,119 172,424 7,066,757 4,791,299
Central Utah Water Conservancy District 0.000400 102,602 637,590 1,133,028 1,133,028 1,133,028 1,133,028 1,133,028 1,133,028 1,133,028 1,133,028 1,133,028 1,133,028 1,133,028 1,133,028 1,133,028 945,521 410,533 16,825,612 11,407,855
Totals:0.010537 2,702,802 16,795,703 29,846,794 29,846,794 29,846,794 29,846,794 29,846,794 29,846,794 29,846,794 29,846,794 29,846,794 29,846,794 29,846,794 29,846,794 29,846,794 24,907,378 10,814,477 443,228,676 300,511,415
Property Tax Participation Rate for Budget
Salt Lake County 80%80%80%80%80%80%80%80%80%80%80%80%80%80%80%80%80%
Multi County Assessing and Collecting 80%80%80%80%80%80%80%80%80%80%80%80%80%80%80%80%80%
County Assessing and Collecting 80%80%80%80%80%80%80%80%80%80%80%80%80%80%80%80%80%
Salt Lake City School District 80%80%80%80%80%80%80%80%80%80%80%80%80%80%80%80%80%
Salt Lake City 80%80%80%80%80%80%80%80%80%80%80%80%80%80%80%80%80%
Salt Lake City Library 80%80%80%80%80%80%80%80%80%80%80%80%80%80%80%80%80%
Salt Lake Metropolitan Water District 80%80%80%80%80%80%80%80%80%80%80%80%80%80%80%80%80%
Salt Lake City Mosquito Abatement District 80%80%80%80%80%80%80%80%80%80%80%80%80%80%80%80%80%
Central Utah Water Conservancy District 80%80%80%80%80%80%80%80%80%80%80%80%80%80%80%80%80%
Property Tax Increment Participation by Taxing Entity YR 1 YR 2 YR 3 YR 4 YR 5 YR 6 YR 7 YR 8 YR 9 YR 10 YR 11 YR 12 YR 13 YR 14 YR 15 YR 16 YR 17 TOTALS NPV
Salt Lake County 299,394 1,860,486 3,306,176 3,306,176 3,306,176 3,306,176 3,306,176 3,306,176 3,306,176 3,306,176 3,306,176 3,306,176 3,306,176 3,306,176 3,306,176 2,759,029 1,197,937 49,097,135 33,288,120
Multi County Assessing and Collecting 3,078 19,128 33,991 33,991 33,991 33,991 33,991 33,991 33,991 33,991 33,991 33,991 33,991 33,991 33,991 28,366 12,316 504,768 342,236
County Assessing and Collecting 32,833 204,029 362,569 362,569 362,569 362,569 362,569 362,569 362,569 362,569 362,569 362,569 362,569 362,569 362,569 302,567 131,371 5,384,196 3,650,514
Salt Lake City School District 892,025 5,543,204 9,850,547 9,850,547 9,850,547 9,850,547 9,850,547 9,850,547 9,850,547 9,850,547 9,850,547 9,850,547 9,850,547 9,850,547 9,850,547 8,220,357 3,569,178 146,281,868 99,179,890
Salt Lake City 648,036 4,027,016 7,156,206 7,156,206 7,156,206 7,156,206 7,156,206 7,156,206 7,156,206 7,156,206 7,156,206 7,156,206 7,156,206 7,156,206 7,156,206 5,971,908 2,592,929 106,270,563 72,052,011
Salt Lake City Library 126,816 788,061 1,400,423 1,400,423 1,400,423 1,400,423 1,400,423 1,400,423 1,400,423 1,400,423 1,400,423 1,400,423 1,400,423 1,400,423 1,400,423 1,168,664 507,419 20,796,456 14,100,109
Salt Lake Metropolitan Water District 43,503 270,338 480,404 480,404 480,404 480,404 480,404 480,404 480,404 480,404 480,404 480,404 480,404 480,404 480,404 400,901 174,066 7,134,059 4,836,930
Salt Lake City Mosquito Abatement District 34,474 214,230 380,697 380,697 380,697 380,697 380,697 380,697 380,697 380,697 380,697 380,697 380,697 380,697 380,697 317,695 137,939 5,653,406 3,833,039
Central Utah Water Conservancy District 82,082 510,072 906,423 906,423 906,423 906,423 906,423 906,423 906,423 906,423 906,423 906,423 906,423 906,423 906,423 756,417 328,427 13,460,489 9,126,284
Combined Phases Total:2,162,242 13,436,563 23,877,435 23,877,435 23,877,435 23,877,435 23,877,435 23,877,435 23,877,435 23,877,435 23,877,435 23,877,435 23,877,435 23,877,435 23,877,435 19,925,902 8,651,581 354,582,941 240,409,132
Total Property Tax Increment for Budget:2,162,242 13,436,563 23,877,435 23,877,435 23,877,435 23,877,435 23,877,435 23,877,435 23,877,435 23,877,435 23,877,435 23,877,435 23,877,435 23,877,435 23,877,435 19,925,902 8,651,581 354,582,941 240,409,132
Uses of Tax Increment Funds YR 1 YR 2 YR 3 YR 4 YR 5 YR 6 YR 7 YR 8 YR 9 YR 10 YR 11 YR 12 YR 13 YR 14 YR 15 YR 16 YR 17 Totals NPV
HTRZ Allowable Costs 2,162,242 13,436,563 23,877,435 23,877,435 23,877,435 23,877,435 23,877,435 23,877,435 23,877,435 23,877,435 23,877,435 23,877,435 23,877,435 23,877,435 23,877,435 19,925,902 8,651,581 354,582,941 240,409,132
Admin Fee 1%21,622 134,366 238,774 238,774 238,774 238,774 238,774 238,774 238,774 238,774 238,774 238,774 238,774 238,774 238,774 199,259 86,516 3,545,829 2,404,091
Public Development Project Support 39%843,274 5,240,259 9,312,200 9,312,200 9,312,200 9,312,200 9,312,200 9,312,200 9,312,200 9,312,200 9,312,200 9,312,200 9,312,200 9,312,200 9,312,200 7,771,102 3,374,117 138,287,347 93,759,561
Private Development Support 60%1,297,345 8,061,938 14,326,461 14,326,461 14,326,461 14,326,461 14,326,461 14,326,461 14,326,461 14,326,461 14,326,461 14,326,461 14,326,461 14,326,461 14,326,461 11,955,541 5,190,949 212,749,764 144,245,479
Total:100%2,162,242 13,436,563 23,877,435 23,877,435 23,877,435 23,877,435 23,877,435 23,877,435 23,877,435 23,877,435 23,877,435 23,877,435 23,877,435 23,877,435 23,877,435 19,925,902 8,651,581 354,582,941 240,409,132
28
Exhibit F
Absorption Schedule
29
HTRZ PHASE III
Phase III Development Pro Forma
Assumptions
Building Value Assumptions Units or Building SF
Assessed Value Per
SF/Per Unit Cost Total Assessed Value Total Construction Costs
Land Value
Assumptions Acreage Per SF Land Value
Total Finished Land
Value
Base Year Value
Portion
Commercial 372,069 $361 $134,134,737 $167,668,421 Commercial 7.50 $42 $13,668,678 7,011,290
Office 1,304,122 $315 $410,473,128 $513,091,410 Office 14.10 $78 $48,112,710 13,181,225
Residential Mid Rise 3,238 $316,019 $1,023,391,224 $1,860,711,317 Residential Mid Rise 36.20 $39 $61,690,137 33,841,159
Hotel 67 $104,349 $6,991,371 $8,739,214 Hotel 0.20 $76 $660,448 186,968
Total 1,574,990,460 2,550,210,361 Public Use/Park 2.80 $0 $0 2,617,548
Total 60.80 $39.68 124,131,974
Additional Assumptions Base Year Land Value 60.80 934,838.65 56,838,190$ 56,838,190
Primary Residential Value Reduction 45.00%Total Incremental Taxable Land Value 67,293,784$
Personal Property Rate 0.00%
Long Term Inflation Rate (post absorption)0.00%
Feet per acre 43,560
Absorption
Annual Absorption %YR 1 YR 2 YR 3 YR 4 YR 5 YR 6 YR 7 YR 8 YR 9 YR 10 YR 11 YR 12 YR 13 YR 14 YR 15 YR 16 YR 17
Commercial 0%0%100%0%0%0%0%0%0%0%0%0%0%0%0%0%0%
Office 0%0%100%0%0%0%0%0%0%0%0%0%0%0%0%0%0%
Residential Mid Rise 0%0%100%0%0%0%0%0%0%0%0%0%0%0%0%0%0%
Hotel 0%0%100%0%0%0%0%0%0%0%0%0%0%0%0%0%0%
Cummulative Absorption %YR 1 YR 2 YR 3 YR 4 YR 5 YR 6 YR 7 YR 8 YR 9 YR 10 YR 11 YR 12 YR 13 YR 14 YR 15 YR 16 YR 17
Commercial 0%0%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%
Office 0%0%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%
Residential Mid Rise 0%0%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%
Hotel 0%0%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%
Annual Absorption SF YR 1 YR 2 YR 3 YR 4 YR 5 YR 6 YR 7 YR 8 YR 9 YR 10 YR 11 YR 12 YR 13 YR 14 YR 15 YR 16 YR 17
Commercial - - 372,069 - - - - - - - - - - - - - -
Office - - 1,304,122 - - - - - - - - - - - - - -
Residential Mid Rise - - 3,238 - - - - - - - - - - - - - -
Hotel - - 67 - - - - - - - - - - - - - -
Cumulative Annual Absorption SF YR 1 YR 2 YR 3 YR 4 YR 5 YR 6 YR 7 YR 8 YR 9 YR 10 YR 11 YR 12 YR 13 YR 14 YR 15 YR 16 YR 17
Commercial - - 372,069 372,069 372,069 372,069 372,069 372,069 372,069 372,069 372,069 372,069 372,069 372,069 372,069 372,069 372,069
Office - - 1,304,122 1,304,122 1,304,122 1,304,122 1,304,122 1,304,122 1,304,122 1,304,122 1,304,122 1,304,122 1,304,122 1,304,122 1,304,122 1,304,122 1,304,122
Residential Mid Rise - - 3,238 3,238 3,238 3,238 3,238 3,238 3,238 3,238 3,238 3,238 3,238 3,238 3,238 3,238 3,238
Hotel - - 67 67 67 67 67 67 67 67 67 67 67 67 67 67 67
Assessed Value by Land Use
Office YR 1 YR 2 YR 3 YR 4 YR 5 YR 6 YR 7 YR 8 YR 9 YR 10 YR 11 YR 12 YR 13 YR 14 YR 15 YR 16 YR 17
Total Building Value - - $410,473,128 $410,473,128 $410,473,128 $410,473,128 $410,473,128 $410,473,128 $410,473,128 $410,473,128 $410,473,128 $410,473,128 $410,473,128 $410,473,128 $410,473,128 $410,473,128 $410,473,128
Land Value - - $48,112,710 $48,112,710 $48,112,710 $48,112,710 $48,112,710 $48,112,710 $48,112,710 $48,112,710 $48,112,710 $48,112,710 $48,112,710 $48,112,710 $48,112,710 $48,112,710 $48,112,710
Total Property Values - - $458,585,838 $458,585,838 $458,585,838 $458,585,838 $458,585,838 $458,585,838 $458,585,838 $458,585,838 $458,585,838 $458,585,838 $458,585,838 $458,585,838 $458,585,838 $458,585,838 $458,585,838
Commercial YR 1 YR 2 YR 3 YR 4 YR 5 YR 6 YR 7 YR 8 YR 9 YR 10 YR 11 YR 12 YR 13 YR 14 YR 15 YR 16 YR 17
Total Building Value - - $134,134,737 $134,134,737 $134,134,737 $134,134,737 $134,134,737 $134,134,737 $134,134,737 $134,134,737 $134,134,737 $134,134,737 $134,134,737 $134,134,737 $134,134,737 $134,134,737 $134,134,737
Land Value - - $13,668,678 $13,668,678 $13,668,678 $13,668,678 $13,668,678 $13,668,678 $13,668,678 $13,668,678 $13,668,678 $13,668,678 $13,668,678 $13,668,678 $13,668,678 $13,668,678 $13,668,678
Total Property Values - - $147,803,415 $147,803,415 $147,803,415 $147,803,415 $147,803,415 $147,803,415 $147,803,415 $147,803,415 $147,803,415 $147,803,415 $147,803,415 $147,803,415 $147,803,415 $147,803,415 $147,803,415
Residential Mid Rise YR 1 YR 2 YR 3 YR 4 YR 5 YR 6 YR 7 YR 8 YR 9 YR 10 YR 11 YR 12 YR 13 YR 14 YR 15 YR 16 YR 17
Total Building Value - - $1,023,391,224 $1,023,391,224 $1,023,391,224 $1,023,391,224 $1,023,391,224 $1,023,391,224 $1,023,391,224 $1,023,391,224 $1,023,391,224 $1,023,391,224 $1,023,391,224 $1,023,391,224 $1,023,391,224 $1,023,391,224 $1,023,391,224
Property Exemptions - - (460,526,051) (460,526,051) (460,526,051) (460,526,051) (460,526,051) (460,526,051) (460,526,051) (460,526,051) (460,526,051) (460,526,051) (460,526,051) (460,526,051) (460,526,051) (460,526,051) (460,526,051)
Land Value - - $61,690,137 $61,690,137 $61,690,137 $61,690,137 $61,690,137 $61,690,137 $61,690,137 $61,690,137 $61,690,137 $61,690,137 $61,690,137 $61,690,137 $61,690,137 $61,690,137 $61,690,137
Total Property Values - - $624,555,311 $624,555,311 $624,555,311 $624,555,311 $624,555,311 $624,555,311 $624,555,311 $624,555,311 $624,555,311 $624,555,311 $624,555,311 $624,555,311 $624,555,311 $624,555,311 $624,555,311
Hotel YR 1 YR 2 YR 3 YR 4 YR 5 YR 6 YR 7 YR 8 YR 9 YR 10 YR 11 YR 12 YR 13 YR 14 YR 15 YR 16 YR 17
Total Building Value - - $6,991,371 $6,991,371 $6,991,371 $6,991,371 $6,991,371 $6,991,371 $6,991,371 $6,991,371 $6,991,371 $6,991,371 $6,991,371 $6,991,371 $6,991,371 $6,991,371 $6,991,371
Land Value - - $660,448 $660,448 $660,448 $660,448 $660,448 $660,448 $660,448 $660,448 $660,448 $660,448 $660,448 $660,448 $660,448 $660,448 $660,448
Total Property Values - - $7,651,819 $7,651,819 $7,651,819 $7,651,819 $7,651,819 $7,651,819 $7,651,819 $7,651,819 $7,651,819 $7,651,819 $7,651,819 $7,651,819 $7,651,819 $7,651,819 $7,651,819
Property Values Summary
Summary YR 1 YR 2 YR 3 YR 4 YR 5 YR 6 YR 7 YR 8 YR 9 YR 10 YR 11 YR 12 YR 13 YR 14 YR 15 YR 16 YR 17
Building Value - - $1,574,990,460 $1,574,990,460 $1,574,990,460 $1,574,990,460 $1,574,990,460 $1,574,990,460 $1,574,990,460 $1,574,990,460 $1,574,990,460 $1,574,990,460 $1,574,990,460 $1,574,990,460 $1,574,990,460 $1,574,990,460 $1,574,990,460
Land Value - - $124,131,974 $124,131,974 $124,131,974 $124,131,974 $124,131,974 $124,131,974 $124,131,974 $124,131,974 $124,131,974 $124,131,974 $124,131,974 $124,131,974 $124,131,974 $124,131,974 $124,131,974
Less Primary Residential Exemption - - (460,526,051) (460,526,051) (460,526,051) (460,526,051) (460,526,051) (460,526,051) (460,526,051) (460,526,051) (460,526,051) (460,526,051) (460,526,051) (460,526,051) (460,526,051) (460,526,051) (460,526,051)
Total Taxable Property Values - - $1,238,596,383 $1,238,596,383 $1,238,596,383 $1,238,596,383 $1,238,596,383 $1,238,596,383 $1,238,596,383 $1,238,596,383 $1,238,596,383 $1,238,596,383 $1,238,596,383 $1,238,596,383 $1,238,596,383 $1,238,596,383 $1,238,596,383
30
# Stories Unit Types Inflation Residential Commercial Comment
% Primary 100%varies Post District 2.00%Yes No
% Secondary 0%9 Convexity/Dunn MF 2.00%Yes No
Primary Residential Assessed Value 55%Convexity/Dunn Retail 2.00%No Yes
Commercial Assessed Value 80%Convexity/Dunn Garage 2.00%No Yes
Long Term Inflation Rate (post absorption)0.0%Orchid Dynasty Retail 2.00%No Yes
7 JTKR MF 2.00%Yes No
JTKR Retail 2.00%No Yes
8 SoHI 2.00%Yes No Need absorption and assessed values
EVO Retail 2.00%No Yes
EVO Office 2.00%No Yes
EVO Hotel 2.00%No Yes Need absorption and values
7 Pickle + Hide MF 2.00%Yes No
Total Residential Units 10,214 Pickle + Hyde Office/Retail 2.00%No Yes
Total Commercial SF 1,147,263 Pickle + Hyde Garage 2.00%No Yes
Total Office SF 1,919,842 13 RL Micro Units 2.00%Yes No
Total Structured Parking Stalls 3,596 RL Hotel 2.00%No Yes
Total Hotel Rooms 441 RL Life Science 2.00%No Yes
RL Retail Canyon 2.00%No Yes
34-40 RL MF High Rise 2.00%Yes No
Granary Square Commercia 2.00%No Yes
5 Granary Square MF 2.00%Yes No
TOTAL 3081358.606 Granary Square Parking 2.00%No Yes
Granary Square Hotel 2.00%No Yes
16 Motel 6 2.00%Yes No Need absorption and values
TBD Hines MF 2.00%Yes No
Hines Office 2.00%No Yes
9 Pacific Yard MF 2.00%Yes No Need absorption and values
Pacific Yard Parking 2.00%No Yes Need absorption and values
Pacific Yard Retail 2.00%No Yes Need absorption and values
Pacific Yard Office 2.00%No Yes Need absorption and values
6 Sloane MF 2.00%Yes No Need absorption and values
7 The June MF 2.00%Yes No Need absorption and values
varies, 7+Granary Apts. At 700 So.2.00%Yes No Need absorption and values
7 Lotus Alchemy - MF 2.00%Yes No Need absorption and values
Lotus Alchemy - Office 2.00%No Yes Need absorption and values
Lotus Alchemy - Retail 2.00%No Yes Need absorption and values
Lotus Alchemy - Parking 2.00%No Yes Need absorption and values
Lotus Alchemy - Amenity 2.00%No Yes Need absorption and values
8 West Village MF 1 2.00%Yes No Need absorption and values
8 West Village MF 2 2.00%Yes No Need absorption and values
West Village Parking 2.00%No Yes Need absorption and values
West Village Retail 2.00%No Yes Need absorption and values
West Village Life Science 2.00%No Yes Need absorption and values
RL Garage 2.00%No Yes
Phase Year 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17
Absorption Total
Post District 580 580
Convexity/Dunn MF 300 300
Convexity/Dunn Retail 25,000 25,000
Convexity/Dunn Garage 325 325
Orchid Dynasty Retail 20,000 20,000
JTKR MF 70 70
JTKR Retail 3,000 3,000
2 SoHI 153 153
2 EVO Retail 40,000 40,000
2 EVO Office 50,000 50,000
2 EVO Hotel 50 50
2 Pickle + Hide MF 139 139
2 Pickle + Hyde Office/Retail 50,000 50,000
2 Pickle + Hyde Garage 120 120
1 RL Micro Units 184 184
1 RL Hotel 204 204
1 RL Life Science 300,000 300,000
1 RL Retail Canyon 28,194 28,194
1 RL MF High Rise 334 334
FALSE Granary Square Commercial 595,000 595,000
Granary Square MF 1,420 1,420
Granary Square Parking 1,424 1,424
Granary Square Hotel 120 120
1 Motel 6 350 350
2 Hines MF 400 400
2 Hines Office 70,000 70,000
2 Pacific Yard MF 292 292
2 Pacific Yard Parking 202 202
2 Pacific Yard Retail 6,000 6,000
2 Pacific Yard Office 6,000 6,000
1 Sloane MF 88 88
2 The June MF 102 102
2 Granary Apts. At 700 So.348 348
1 Lotus Alchemy - MF 214 214
1 Lotus Alchemy - Office 1,400 1,400
1 Lotus Alchemy - Retail 9,720 9,720
1 Lotus Alchemy - Parking 256 256
1 Lotus Alchemy - Amenity 4,970 4,970
West Village MF 1 301 301
West Village MF 2 301 301
West Village Parking 835 835
West Village Retail 8,000 8,000
West Village Life Science 180,000 180,000
RL Garage 434 434
Total Residential Units 6,976 2,704 4,272 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Cumulative Residential Units 6,976 2,704 6,976 6,976 6,976 6,976 6,976 6,976 6,976 6,976 6,976 6,976 6,976 6,976 6,976 6,976 6,976 6,976
Total Commercial SF 775,194 31,194 744,000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Cumulative Commercial SF 775,194 31,194 775,194 775,194 775,194 775,194 775,194 775,194 775,194 775,194 775,194 775,194 775,194 775,194 775,194 775,194 775,194 775,194
Total Office SF 615,720 379,720 236,000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Cumulative Office SF 615,720 379,720 615,720 615,720 615,720 615,720 615,720 615,720 615,720 615,720 615,720 615,720 615,720 615,720 615,720 615,720 615,720 615,720
Total Structured Parking 3,596
Total Structured Parking Cost 87,225,031
Total Commercial SF 1,479,098 491,066 988,032 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Cumulative Commercial SF 1,479,098 491,066 1,479,098 1,479,098 1,479,098 1,479,098 1,479,098 1,479,098 1,479,098 1,479,098 1,479,098 1,479,098 1,479,098 1,479,098 1,479,098 1,479,098 1,479,098 1,479,098
Total Hotel Rooms 374 204 170 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Cumulative Hotel Rooms 374 204 374 374 374 374 374 374 374 374 374 374 374 374 374 374 374 374
Year Market Value 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17
Assessed Values Per SF/ Construction Cost
Post District $355,000 $376,729 $384,263 $391,949 $399,788 $407,783 $415,939 $424,258 $432,743 $441,398 $450,226 $459,230 $468,415 $477,783 $487,339 $497,086 $507,027 $517,168
Convexity/Dunn MF $405,000 $429,789 $438,385 $447,153 $456,096 $465,218 $474,522 $484,012 $493,693 $503,567 $513,638 $523,911 $534,389 $545,077 $555,978 $567,098 $578,440 $590,009
Convexity/Dunn Retail $395 $419 $428 $436 $445 $454 $463 $472 $482 $491 $501 $511 $521 $532 $542 $553 $564 $575
Convexity/Dunn Garage $29,500 $31,306 $31,932 $32,570 $33,222 $33,886 $34,564 $35,255 $35,960 $36,680 $37,413 $38,161 $38,925 $39,703 $40,497 $41,307 $42,133 $42,976
Orchid Dynasty Retail $365 $387 $395 $403 $411 $419 $428 $436 $445 $454 $463 $472 $482 $491 $501 $511 $521 $532
JTKR MF $387,000 $410,687 $418,901 $427,279 $435,825 $444,541 $453,432 $462,501 $471,751 $481,186 $490,810 $500,626 $510,638 $520,851 $531,268 $541,893 $552,731 $563,786
JTKR Retail $362 $384 $392 $400 $408 $416 $424 $433 $441 $450 $459 $468 $478 $487 $497 $507 $517 $527
TRUE SoHI $335,000 $355,505 $362,615 $369,867 $377,264 $384,810 $392,506 $400,356 $408,363 $416,530 $424,861 $433,358 $442,025 $450,866 $459,883 $469,081 $478,462 $488,032
TRUE EVO Retail $350 $371 $379 $386 $394 $402 $410 $418 $427 $435 $444 $453 $462 $471 $480 $490 $500 $510
TRUE EVO Office $350 $371 $379 $386 $394 $402 $410 $418 $427 $435 $444 $453 $462 $471 $480 $490 $500 $510
TRUE EVO Hotel $100,000 $106,121 $108,243 $110,408 $112,616 $114,869 $117,166 $119,509 $121,899 $124,337 $126,824 $129,361 $131,948 $134,587 $137,279 $140,024 $142,825 $145,681
TRUE Pickle + Hide MF $250,000 $265,302 $270,608 $276,020 $281,541 $287,171 $292,915 $298,773 $304,749 $310,844 $317,060 $323,402 $329,870 $336,467 $343,196 $350,060 $357,062 $364,203
TRUE Pickle + Hyde Office/Retail $375 $398 $406 $414 $422 $431 $439 $448 $457 $466 $476 $485 $495 $505 $515 $525 $536 $546
TRUE Pickle + Hyde Garage $22,500 $23,877 $24,355 $24,842 $25,339 $25,845 $26,362 $26,890 $27,427 $27,976 $28,535 $29,106 $29,688 $30,282 $30,888 $31,505 $32,136 $32,778
TRUE RL Micro Units $187,204 $198,662 $202,635 $206,688 $210,822 $215,038 $219,339 $223,726 $228,200 $232,764 $237,420 $242,168 $247,011 $251,952 $256,991 $262,130 $267,373 $272,721
TRUE RL Hotel $339,750 $360,545 $367,756 $375,111 $382,614 $390,266 $398,071 $406,033 $414,153 $422,436 $430,885 $439,503 $448,293 $457,259 $466,404 $475,732 $485,247 $494,952
TRUE RL Life Science $397 $421 $430 $438 $447 $456 $465 $474 $484 $494 $503 $514 $524 $534 $545 $556 $567 $578
TRUE RL Retail Canyon $381 $404 $412 $421 $429 $438 $446 $455 $464 $474 $483 $493 $503 $513 $523 $533 $544 $555
TRUE RL MF High Rise $557,832 $591,976 $603,816 $615,892 $628,210 $640,774 $653,589 $666,661 $679,994 $693,594 $707,466 $721,616 $736,048 $750,769 $765,784 $781,100 $796,722 $812,656
TRUE Granary Square Commercial $382 $405 $413 $422 $430 $439 $448 $457 $466 $475 $484 $494 $504 $514 $524 $535 $546 $557
TRUE Granary Square MF $358,000 $379,912 $387,511 $395,261 $403,166 $411,229 $419,454 $427,843 $436,400 $445,128 $454,031 $463,111 $472,373 $481,821 $491,457 $501,286 $511,312 $521,538
TRUE Granary Square Parking $27,225 $28,891 $29,469 $30,059 $30,660 $31,273 $31,898 $32,536 $33,187 $33,851 $34,528 $35,218 $35,923 $36,641 $37,374 $38,122 $38,884 $39,662
TRUE Granary Square Hotel $200,000 $212,242 $216,486 $220,816 $225,232 $229,737 $234,332 $239,019 $243,799 $248,675 $253,648 $258,721 $263,896 $269,174 $274,557 $280,048 $285,649 $291,362
TRUE Motel 6 $335,000 $355,505 $362,615 $369,867 $377,264 $384,810 $392,506 $400,356 $408,363 $416,530 $424,861 $433,358 $442,025 $450,866 $459,883 $469,081 $478,462 $488,032
TRUE Hines MF $369,068 $391,658 $399,491 $407,481 $415,630 $423,943 $432,422 $441,070 $449,892 $458,890 $468,067 $477,429 $486,977 $496,717 $506,651 $516,784 $527,120 $537,662
TRUE Hines Office $350 $371 $379 $386 $394 $402 $410 $418 $427 $435 $444 $453 $462 $471 $480 $490 $500 $510
TRUE Pacific Yard MF $335,000 $355,505 $362,615 $369,867 $377,264 $384,810 $392,506 $400,356 $408,363 $416,530 $424,861 $433,358 $442,025 $450,866 $459,883 $469,081 $478,462 $488,032
TRUE Pacific Yard Parking $20,000 $21,224 $21,649 $22,082 $22,523 $22,974 $23,433 $23,902 $24,380 $24,867 $25,365 $25,872 $26,390 $26,917 $27,456 $28,005 $28,565 $29,136
TRUE Pacific Yard Retail $350 $371 $379 $386 $394 $402 $410 $418 $427 $435 $444 $453 $462 $471 $480 $490 $500 $510
TRUE Pacific Yard Office $350 $371 $379 $386 $394 $402 $410 $418 $427 $435 $444 $453 $462 $471 $480 $490 $500 $510
TRUE Sloane MF $335,000 $355,505 $362,615 $369,867 $377,264 $384,810 $392,506 $400,356 $408,363 $416,530 $424,861 $433,358 $442,025 $450,866 $459,883 $469,081 $478,462 $488,032
TRUE The June MF $335,000 $355,505 $362,615 $369,867 $377,264 $384,810 $392,506 $400,356 $408,363 $416,530 $424,861 $433,358 $442,025 $450,866 $459,883 $469,081 $478,462 $488,032
TRUE Granary Apts. At 700 So.$335,000 $355,505 $362,615 $369,867 $377,264 $384,810 $392,506 $400,356 $408,363 $416,530 $424,861 $433,358 $442,025 $450,866 $459,883 $469,081 $478,462 $488,032
TRUE Lotus Alchemy - MF $335,000 $355,505 $362,615 $369,867 $377,264 $384,810 $392,506 $400,356 $408,363 $416,530 $424,861 $433,358 $442,025 $450,866 $459,883 $469,081 $478,462 $488,032
TRUE Lotus Alchemy - Office $350 $371 $379 $386 $394 $402 $410 $418 $427 $435 $444 $453 $462 $471 $480 $490 $500 $510
TRUE Lotus Alchemy - Retail $350 $371 $379 $386 $394 $402 $410 $418 $427 $435 $444 $453 $462 $471 $480 $490 $500 $510
TRUE Lotus Alchemy - Parking $20,000 $21,224 $21,649 $22,082 $22,523 $22,974 $23,433 $23,902 $24,380 $24,867 $25,365 $25,872 $26,390 $26,917 $27,456 $28,005 $28,565 $29,136
TRUE Lotus Alchemy - Amenity $105 $111 $114 $116 $118 $121 $123 $125 $128 $131 $133 $136 $139 $141 $144 $147 $150 $153
TRUE West Village MF 1 $335,000 $355,505 $362,615 $369,867 $377,264 $384,810 $392,506 $400,356 $408,363 $416,530 $424,861 $433,358 $442,025 $450,866 $459,883 $469,081 $478,462 $488,032
TRUE West Village MF 2 $335,000 $355,505 $362,615 $369,867 $377,264 $384,810 $392,506 $400,356 $408,363 $416,530 $424,861 $433,358 $442,025 $450,866 $459,883 $469,081 $478,462 $488,032
TRUE West Village Parking $20,000 $21,224 $21,649 $22,082 $22,523 $22,974 $23,433 $23,902 $24,380 $24,867 $25,365 $25,872 $26,390 $26,917 $27,456 $28,005 $28,565 $29,136
TRUE West Village Retail $350 $371 $379 $386 $394 $402 $410 $418 $427 $435 $444 $453 $462 $471 $480 $490 $500 $510
TRUE West Village Life Science $390 $414 $422 $431 $439 $448 $457 $466 $475 $485 $495 $505 $515 $525 $535 $546 $557 $568
RL Garage $56,200 $59,640 $60,833 $62,049 $63,290 $64,556 $65,847 $67,164 $68,507 $69,878 $71,275 $72,701 $74,155 $75,638 $77,151 $78,694 $80,267 $81,873
Year Assessed Value 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17
Absorbed Value
Post District $122,580,030 $0 $122,580,030 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Convexity/Dunn MF $72,333,529 $0 $72,333,529 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Convexity/Dunn Retail $8,551,214 $0 $8,551,214 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Convexity/Dunn Garage $8,302,255 $0 $8,302,255 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Orchid Dynasty Retail $6,321,404 $0 $6,321,404 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
JTKR MF $15,811,469 $15,811,469 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
JTKR Retail $921,978 $921,978 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
SoHI $30,514,033 $0 $30,514,033 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
EVO Retail $12,123,240 $0 $12,123,240 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
EVO Office $15,154,050 $0 $15,154,050 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
EVO Hotel $4,329,729 $0 $4,329,729 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Pickle + Hide MF $20,687,985 $0 $20,687,985 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Pickle + Hyde Office/Retail $16,236,482 $0 $16,236,482 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Pickle + Hyde Garage $2,338,053 $0 $2,338,053 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
RL Micro Units $20,104,607 $20,104,607 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
RL Hotel $58,841,012 $58,841,012 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
RL Life Science $101,111,898 $101,111,898 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
RL Retail Canyon $9,119,524 $9,119,524 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
RL MF High Rise $110,920,931 $0 $110,920,931 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Granary Square Commercial $196,820,805 $0 $196,820,805 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Granary Square MF $302,645,867 $0 $302,645,867 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Granary Square Parking $33,571,330 $0 $33,571,330 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Granary Square Hotel $20,782,697 $0 $20,782,697 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Motel 6 $69,803,344 $0 $69,803,344 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Hines MF $86,164,723 $86,164,723 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Hines Office $20,799,677 $20,799,677 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Pacific Yard MF $58,235,933 $0 $58,235,933 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Pacific Yard Parking $3,498,421 $0 $3,498,421 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Pacific Yard Retail $1,818,486 $0 $1,818,486 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Pacific Yard Office $1,818,486 $0 $1,818,486 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Sloane MF $17,206,427 $17,206,427 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
The June MF $20,342,689 $0 $20,342,689 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Granary Apts. At 700 So.$68,043,596 $68,043,596 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Lotus Alchemy - MF $41,842,901 $41,842,901 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Lotus Alchemy - Office $415,994 $415,994 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Lotus Alchemy - Retail $2,888,184 $2,888,184 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Lotus Alchemy - Parking $4,346,708 $4,346,708 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Lotus Alchemy - Amenity $443,033 $443,033 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
West Village MF 1 $60,030,876 $0 $60,030,876 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
West Village MF 2 $60,030,876 $0 $60,030,876 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
West Village Parking $14,461,294 $0 $14,461,294 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
West Village Retail $2,424,648 $0 $2,424,648 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
West Village Life Science $60,789,390 $0 $60,789,390 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
RL Garage $20,706,970 $20,706,970 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
PH I & II Total Annual Value $1,806,236,775 $468,768,698 $1,337,468,076 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Cumulative Value $468,768,698 $1,806,236,775 $1,806,236,775 $1,806,236,775 $1,806,236,775 $1,806,236,775 $1,806,236,775 $1,806,236,775 $1,806,236,775 $1,806,236,775 $1,806,236,775 $1,806,236,775 $1,806,236,775 $1,806,236,775 $1,806,236,775 $1,806,236,775 $1,806,236,775
Total Value w/o Commercial/Primary Residential Reduction:$2,926,716,317
Known Development Projects YEAR 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17
TIF End Date TIF Start Date
YR 15 YR 1 $468,768,698 $468,768,698 $468,768,698 $468,768,698 $468,768,698 $468,768,698 $468,768,698 $468,768,698 $468,768,698 $468,768,698 $468,768,698 $468,768,698 $468,768,698 $468,768,698 $468,768,698
YR 16 or later YR 2 or later $1,337,468,076 $1,337,468,076 $1,337,468,076 $1,337,468,076 $1,337,468,076 $1,337,468,076 $1,337,468,076 $1,337,468,076 $1,337,468,076 $1,337,468,076 $1,337,468,076 $1,337,468,076 $1,337,468,076 $1,337,468,076 $1,337,468,076
Total Cumulative Value $468,768,698 $1,806,236,775 $1,806,236,775 $1,806,236,775 $1,806,236,775 $1,806,236,775 $1,806,236,775 $1,806,236,775 $1,806,236,775 $1,806,236,775 $1,806,236,775 $1,806,236,775 $1,806,236,775 $1,806,236,775 $1,806,236,775 $1,337,468,076 $0
Future Development Projects YEAR 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17
TIF End Date TIF Start Date
YR 17 or later YR 3 or later $1,238,596,383 $1,238,596,383 $1,238,596,383 $1,238,596,383 $1,238,596,383 $1,238,596,383 $1,238,596,383 $1,238,596,383 $1,238,596,383 $1,238,596,383 $1,238,596,383 $1,238,596,383 $1,238,596,383 $1,238,596,383 $1,238,596,383
Total Cumulative Value $0 $0 $1,238,596,383 $1,238,596,383 $1,238,596,383 $1,238,596,383 $1,238,596,383 $1,238,596,383 $1,238,596,383 $1,238,596,383 $1,238,596,383 $1,238,596,383 $1,238,596,383 $1,238,596,383 $1,238,596,383 $1,238,596,383 $1,238,596,383
Combined Projects YEAR 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17
TIF End Date TIF Start Date
YR 15 YR 1 $468,768,698 $468,768,698 $468,768,698 $468,768,698 $468,768,698 $468,768,698 $468,768,698 $468,768,698 $468,768,698 $468,768,698 $468,768,698 $468,768,698 $468,768,698 $468,768,698 $468,768,698
YR 16 or later YR 2 or later $1,337,468,076 $1,337,468,076 $1,337,468,076 $1,337,468,076 $1,337,468,076 $1,337,468,076 $1,337,468,076 $1,337,468,076 $1,337,468,076 $1,337,468,076 $1,337,468,076 $1,337,468,076 $1,337,468,076 $1,337,468,076 $1,337,468,076
YR 17 or later YR 3 or later $1,238,596,383 $1,238,596,383 $1,238,596,383 $1,238,596,383 $1,238,596,383 $1,238,596,383 $1,238,596,383 $1,238,596,383 $1,238,596,383 $1,238,596,383 $1,238,596,383 $1,238,596,383 $1,238,596,383 $1,238,596,383 $1,238,596,383
Total Cumulative Value $468,768,698 $1,806,236,775 $3,044,833,157 $3,044,833,157 $3,044,833,157 $3,044,833,157 $3,044,833,157 $3,044,833,157 $3,044,833,157 $3,044,833,157 $3,044,833,157 $3,044,833,157 $3,044,833,157 $3,044,833,157 $3,044,833,157 $2,576,064,459 $1,238,596,383
Assumptions
Projections (All Phases at Buildout)
31
Exhibit G
Sales Tax Analysis
32
900 S HTRZ
City Effective
Rate
County Effective
Rate
State Effective
Rate
Sales Tax Analysis State 4.850%0.000%0.000%4.850%
County 0.250%0.000%0.250%0.000%
Assumptions Retail Sales Tax Rates (Net Rate)Mass Transit 0.300%0.000%0.300%0.000%
Commerical Sales per SF1 251.01$ State 4.850%Additional Mass Trans 0.250%0.000%0.250%0.000%
Builtout Commercial SF 1,147,263 County Option Trans 0.250%0.000%0.250%0.000%
Online Sales per Resident $2,301 Taxable Sales Base Year Botanical, Cultural, Zoo 0.100%0.000%0.100%0.000%
Additional Assumptions Taxable Sales Base Year Value (2022)16,997,325 City 1.000%0.500%0.000%0.000%
Annual Inflation 1.0%Overall City Sales Tax Revenue City Acreage Correctional Facility 0.500%0.500%
Average Household Size²1.93 12,335,303,681$ 70,920 Total 7.500%1.000%1.150%4.850%Does not sum equally horizontally and vertically?
Residential Vacancy Rate (CBRE 2022)3.60%HTRZ Propotion of 2022 Taxables Sales HTRZ Acreage
Discount Rate 4.0%0.14%97.72
New Sales to State 30.0%
New Sales to County 50.0%
New Sales to City 50.0%
Time Indexed Sales ($)/SF Base Year Yr 1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr 11 Yr 12 Yr 13 Yr 14 Yr 15 Yr 16 Yr 17
Commercial (brick & mortar) Sales 251 254 256 259 261 264 266 269 272 275 277 280 283 286 289 291 294 297
Online Sales 2,301 2,324 2,347 2,370 2,394 2,418 2,442 2,467 2,491 2,516 2,541 2,567 2,593 2,618 2,645 2,671 2,698 2,725
Absorption Projections Yr 1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr 11 Yr 12 Yr 13 Yr 14 Yr 15 Yr 16 Yr 17
PH III Residential Units - - - 3,238 3,238 3,238 3,238 3,238 3,238 3,238 3,238 3,238 3,238 3,238 3,238 3,238 3,238 3,238
All Other Residential Units - 2,704 6,976 6,976 6,976 6,976 6,976 6,976 6,976 6,976 6,976 6,976 6,976 6,976 6,976 6,976 6,976 6,976
Total Residential Units - 2,704 6,976 10,214 10,214 10,214 10,214 10,214 10,214 10,214 10,214 10,214 10,214 10,214 10,214 10,214 10,214 10,214
Vacant Units - 97 251 368 368 368 368 368 368 368 368 368 368 368 368 368 368 368
HTRZ New Residents - 5,031 12,979 19,004 19,004 19,004 19,004 19,004 19,004 19,004 19,004 19,004 19,004 19,004 19,004 19,004 19,004 19,004
PH III Commercial Square Feet - - - 372,069 372,069 372,069 372,069 372,069 372,069 372,069 372,069 372,069 372,069 372,069 372,069 372,069 372,069 372,069
All Other Commercial Square Feet - 31,194 775,194 775,194 775,194 775,194 775,194 775,194 775,194 775,194 775,194 775,194 775,194 775,194 775,194 775,194 775,194 775,194
Commercial SF Expired Removal¹(31,194) (775,194)
Commercial Square Feet - 31,194 775,194 1,147,263 1,147,263 1,147,263 1,147,263 1,147,263 1,147,263 1,147,263 1,147,263 1,147,263 1,147,263 1,147,263 1,147,263 1,147,263 1,116,069 372,069
Yr 1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr 11 Yr 12 Yr 13 Yr 14 Yr 15 Yr 16 Yr 17 Total
Commercial Gross Taxable Sales - 7,908,306 198,492,533 296,700,273 299,667,276 302,663,949 305,690,588 308,747,494 311,834,969 314,953,319 318,102,852 321,283,881 324,496,719 327,741,687 331,019,103 334,329,294 328,491,290 110,605,645 4,742,729,178
Online Gross Taxable Sales - 11,690,492 30,461,686 45,048,557 45,499,043 45,954,033 46,413,574 46,877,709 47,346,487 47,819,951 48,298,151 48,781,132 49,268,944 49,761,633 50,259,250 50,761,842 51,269,460 51,782,155 767,294,100
Less Sales Tax Base Year (16,997,325) (16,997,325) (16,997,325) (16,997,325) (16,997,325) (16,997,325) (16,997,325) (16,997,325) (16,997,325) (16,997,325) (16,997,325) (16,997,325) (16,997,325) (16,997,325) (16,997,325) (16,997,325) (16,997,325) (16,997,325) (16,997,325)
Total Gross Taxable Sales - 2,601,473 211,956,894 324,751,506 328,168,994 331,620,657 335,106,837 338,627,879 342,184,131 345,775,945 349,403,678 353,067,688 356,768,338 360,505,995 364,281,028 368,093,812 362,763,425 145,390,475 5,493,025,953
Sales Tax Summary
Yr 1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr 11 Yr 12 Yr 13 Yr 14 Yr 15 Yr 16 Yr 17 Total
State Sales Tax Generation - 126,171 10,279,909 15,750,448 15,916,196 16,083,602 16,252,682 16,423,452 16,595,930 16,770,133 16,946,078 17,123,783 17,303,264 17,484,541 17,667,630 17,852,550 17,594,026 7,051,438 253,221,835
County Sales Tax Generation - 14,958 1,218,752 1,867,321 1,886,972 1,906,819 1,926,864 1,947,110 1,967,559 1,988,212 2,009,071 2,030,139 2,051,418 2,072,909 2,094,616 2,116,539 2,085,890 835,995 30,021,145
City Sales Tax Generation - 13,007 1,059,784 1,623,758 1,640,845 1,658,103 1,675,534 1,693,139 1,710,921 1,728,880 1,747,018 1,765,338 1,783,842 1,802,530 1,821,405 1,840,469 1,813,817 726,952 26,105,344
Percentage to TTIF 15%15%15%15%15%15%15%15%15%15%15%15%15%15%15%15%15%15%
Total Sales Tax to TTIF - 23,121 1,883,767 2,886,229 2,916,602 2,947,279 2,978,262 3,009,555 3,041,161 3,073,084 3,105,325 3,137,889 3,170,779 3,203,997 3,237,548 3,271,434 3,224,060 1,292,158 46,402,249
Source: Utah Calendar Year Gross Taxable Sales and Purchases - 2022 Prepared by the Economics and Statistical Unit of the Utah State Tax Commission
¹: Assumes that sales tax collection is triggered at the same time as the property tax for specific parcels. After parcels expire, their commercial square footage is removed from the sales tax collection.
Sales Tax Rates (Net Rate)
Source: Rates in effect as of October 1, 2021
Note 1: This is the annual commercial gross taxable sales compared to the estimated commercial square footage for Salt Lake City. 2022 taxable sales data was obtained from the State Tax Commission website.
Note 2: Census, 2021 ACS 1 YR Estimate
33
Exhibit H
Affordable Housing Gap Analysis
34
900 S HTRZ
Affordable Housing Gap Analysis
Assumptions Monthly Rent
Multifamily Average Rent (CBRE 2022 Multifamily Report)$19,476 $1,623
2022 SL County 60% AMI, 1 Bedroom Rent Limit (NOVOGRADAC)$13,824 $1,152
Rent Reduction/Gap between Market & 60% AMI (%)29.02%
Total Residential Units 10,214
% Private Development Affordable Component 10.0%
# Affordable Private Development Units 1,021
% Public Benefit Affordable Component 10.0%
# Affordable Public Benefit Units 1,021
Total Affordable Units (Private Development & Public Benefit)2,043 Total over Project
Residential Vacancy Rate (CBRE 2022)3.60% Term Years
Average Annual Affordable Rent Gap (Private Only)$8,610,626 $215,265,646
Average Annual Affordable Rent Gap (both Private & Public)$17,221,252 $430,531,292
Affordable Housing Rent Reduction (%)29.02%
Additional Assumptions
Rent Growth (HDLP Submissions 2022)3.0%
Average Household Size (Census, 2021 ACS 1 YR Estimate)1.93
Discount Rate 4.0%
Time Indexed Sales ($)/SF
Base Year YR 1 YR 2 YR 3 YR 4 YR 5 YR 6 YR 7 YR 8 YR 9 YR 10 YR 11 YR 12 YR 13 YR 14 YR 15 YR 16 YR 17 YR 18 YR 19 YR 20 YR 21 YR 22 YR 23 YR 24 YR 25
Multifamily Average Rent 20,662 21,282 21,920 22,578 23,255 23,953 24,672 25,412 26,174 26,959 27,768 28,601 29,459 30,343 31,253 32,191 33,157 34,151 35,176 36,231 37,318 38,438 39,591 40,778 42,002 43,262
60% AMI, 1 Bedroom Rent Limit 14,666 15,106 15,559 16,026 16,507 17,002 17,512 18,037 18,578 19,136 19,710 20,301 20,910 21,537 22,183 22,849 23,534 24,240 24,968 25,717 26,488 27,283 28,101 28,944 29,813 30,707
Gap per Unit 5,996 6,176 6,361 6,552 6,749 6,951 7,160 7,375 7,596 7,824 8,058 8,300 8,549 8,806 9,070 9,342 9,622 9,911 10,208 10,514 10,830 11,155 11,489 11,834 12,189 12,555
Absorption Projections
2024 YR 1 YR 2 YR 3 YR 4 YR 5 YR 6 YR 7 YR 8 YR 9 YR 10 YR 11 YR 12 YR 13 YR 14 YR 15 YR 16 YR 17 YR 18 YR 19 YR 20 YR 21 YR 22 YR 23 YR 24 YR 25
PH III Residential Units - - - 3,238 3,238 3,238 3,238 3,238 3,238 3,238 3,238 3,238 3,238 3,238 3,238 3,238 3,238 3,238 3,238 3,238 3,238 3,238 3,238 3,238 3,238 3,238
All Other Residential Units - 2,704 6,976 6,976 6,976 6,976 6,976 6,976 6,976 6,976 6,976 6,976 6,976 6,976 6,976 6,976 6,976 6,976 6,976 6,976 6,976 6,976 6,976 6,976 6,976 6,976
Total Residential Units - 2,704 6,976 10,214 10,214 10,214 10,214 10,214 10,214 10,214 10,214 10,214 10,214 10,214 10,214 10,214 10,214 10,214 10,214 10,214 10,214 10,214 10,214 10,214 10,214 10,214
Vacancy Reduction - (97) (251) (368) (368) (368) (368) (368) (368) (368) (368) (368) (368) (368) (368) (368) (368) (368) (368) (368) (368) (368) (368) (368) (368) (368)
Total Occupied Residential Units - 2,607 6,725 9,847 9,847 9,847 9,847 9,847 9,847 9,847 9,847 9,847 9,847 9,847 9,847 9,847 9,847 9,847 9,847 9,847 9,847 9,847 9,847 9,847 9,847 9,847
Total Residential Rent (if all Market Rate)- 55,474,725 147,411,773 222,318,179 228,987,724 235,857,356 242,933,077 250,221,069 257,727,701 265,459,532 273,423,318 281,626,018 290,074,798 298,777,042 307,740,353 316,972,564 326,481,741 336,276,193 346,364,479 356,755,413 367,458,076 378,481,818 389,836,273 401,531,361 413,577,302 425,984,621
# Private Dev. Affordable Residential Units - 270 698 1,021 1,021 1,021 1,021 1,021 1,021 1,021 1,021 1,021 1,021 1,021 1,021 1,021 1,021 1,021 1,021 1,021 1,021 1,021 1,021 1,021 1,021 1,021
# Public Benefit Affordable Component - 270 698 1,021 1,021 1,021 1,021 1,021 1,021 1,021 1,021 1,021 1,021 1,021 1,021 1,021 1,021 1,021 1,021 1,021 1,021 1,021 1,021 1,021 1,021 1,021
Total Affordable Units - 541 1,395 2,043 2,043 2,043 2,043 2,043 2,043 2,043 2,043 2,043 2,043 2,043 2,043 2,043 2,043 2,043 2,043 2,043 2,043 2,043 2,043 2,043 2,043 2,043
Vacancy Reduction - (19) (50) (74) (74) (74) (74) (74) (74) (74) (74) (74) (74) (74) (74) (74) (74) (74) (74) (74) (74) (74) (74) (74) (74) (74)
Total Occupied Affordable Units - 521 1,345 1,969 1,969 1,969 1,969 1,969 1,969 1,969 1,969 1,969 1,969 1,969 1,969 1,969 1,969 1,969 1,969 1,969 1,969 1,969 1,969 1,969 1,969 1,969 TOTAL
Total Affordable Unit Rent (if Market Rate)- 11,094,945 29,482,355 44,463,636 45,797,545 47,171,471 48,586,615 50,044,214 51,545,540 53,091,906 54,684,664 56,325,204 58,014,960 59,755,408 61,548,071 63,394,513 65,296,348 67,255,239 69,272,896 71,351,083 73,491,615 75,696,364 77,967,255 80,306,272 82,715,460 85,196,924 1,483,550,501
Total Affordable Unit Rent (at 60% AMI)- 7,875,155 20,926,477 31,560,141 32,506,945 33,482,153 34,486,618 35,521,216 36,586,853 37,684,459 38,814,992 39,979,442 41,178,825 42,414,190 43,686,616 44,997,214 46,347,131 47,737,545 49,169,671 50,644,761 52,164,104 53,729,027 55,340,898 57,001,125 58,711,159 60,472,493 1,053,019,210
Affordable Housing Rent Gap - 3,219,790 8,555,877 12,903,495 13,290,600 13,689,318 14,099,997 14,522,997 14,958,687 15,407,448 15,869,671 16,345,761 16,836,134 17,341,218 17,861,455 18,397,299 18,949,217 19,517,694 20,103,225 20,706,322 21,327,511 21,967,337 22,626,357 23,305,147 24,004,302 24,724,431 430,531,292
Private Development Affordable Rent Gap 1,609,895 4,277,939 6,451,748 6,645,300 6,844,659 7,049,999 7,261,499 7,479,344 7,703,724 7,934,836 8,172,881 8,418,067 8,670,609 8,930,727 9,198,649 9,474,609 9,758,847 10,051,612 10,353,161 10,663,756 10,983,668 11,313,178 11,652,574 12,002,151 12,362,215 215,265,646
Public Benefit Affordable Rent Gap 1,609,895 4,277,939 6,451,748 6,645,300 6,844,659 7,049,999 7,261,499 7,479,344 7,703,724 7,934,836 8,172,881 8,418,067 8,670,609 8,930,727 9,198,649 9,474,609 9,758,847 10,051,612 10,353,161 10,663,756 10,983,668 11,313,178 11,652,574 12,002,151 12,362,215 215,265,646
35
Exhibit I
Base Year Value
36
900 S HTRZ
Base Year Value
Assumptions Value
Inflation Rate 0.0%
Base Year Value by Tax Area -$
02A 108,624,530.00$
13 60,261,956.00$
01K 43,376,347.00$
Total Base Year Property Value 212,262,833$
INCREMENTAL PROPERTY TAX ANALYSIS:Tax Year 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040
Cumulative Taxable Value Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17
TOTAL BASE YEAR VALUE:212,262,833 212,262,833 212,262,833 212,262,833 212,262,833 212,262,833 212,262,833 212,262,833 212,262,833 212,262,833 212,262,833 212,262,833 212,262,833 212,262,833 212,262,833 212,262,833 212,262,833
HTRZ PROJECT AREA BUDGET Payment Year 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041
Sources of Funds:Tax Year 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040
INCREMENTAL TAX RATE & ANALYSIS 2022
Salt Lake County 0.001459 309,691 309,691 309,691 309,691 309,691 309,691 309,691 309,691 309,691 309,691 309,691 309,691 309,691 309,691 309,691 309,691 309,691
Multi County Assessing and Collecting 0.000015 3,184 3,184 3,184 3,184 3,184 3,184 3,184 3,184 3,184 3,184 3,184 3,184 3,184 3,184 3,184 3,184 3,184
County Assessing and Collecting 0.000160 33,962 33,962 33,962 33,962 33,962 33,962 33,962 33,962 33,962 33,962 33,962 33,962 33,962 33,962 33,962 33,962 33,962
Salt Lake City School District 0.004347 922,707 922,707 922,707 922,707 922,707 922,707 922,707 922,707 922,707 922,707 922,707 922,707 922,707 922,707 922,707 922,707 922,707
Salt Lake City 0.003158 670,326 670,326 670,326 670,326 670,326 670,326 670,326 670,326 670,326 670,326 670,326 670,326 670,326 670,326 670,326 670,326 670,326
Salt Lake City Library 0.000618 131,178 131,178 131,178 131,178 131,178 131,178 131,178 131,178 131,178 131,178 131,178 131,178 131,178 131,178 131,178 131,178 131,178
Salt Lake Metropolitan Water District 0.000212 45,000 45,000 45,000 45,000 45,000 45,000 45,000 45,000 45,000 45,000 45,000 45,000 45,000 45,000 45,000 45,000 45,000
Salt Lake City Mosquito Abatement District 0.000168 35,660 35,660 35,660 35,660 35,660 35,660 35,660 35,660 35,660 35,660 35,660 35,660 35,660 35,660 35,660 35,660 35,660
Central Utah Water Conservancy District 0.000400 84,905 84,905 84,905 84,905 84,905 84,905 84,905 84,905 84,905 84,905 84,905 84,905 84,905 84,905 84,905 84,905 84,905
Totals:0.010537 2,236,613 2,236,613 2,236,613 2,236,613 2,236,613 2,236,613 2,236,613 2,236,613 2,236,613 2,236,613 2,236,613 2,236,613 2,236,613 2,236,613 2,236,613 2,236,613 2,236,613
37
Resolution 36 of 2024 Interlocal Agreement
Housing and Transit Reinvestment Zone
(HTRZ) 900 South
Final Audit Report 2024-10-24
Created:2024-10-21
By:Michelle Barney (Michelle.Barney@slc.gov)
Status:Signed
Transaction ID:CBJCHBCAABAAU9VmsAhWXIfo31CNDnzC2ec94-qn9U-d
"Resolution 36 of 2024 Interlocal Agreement Housing and Transi
t Reinvestment Zone (HTRZ) 900 South" History
Document created by Michelle Barney (Michelle.Barney@slc.gov)
2024-10-21 - 4:27:14 PM GMT
Document emailed to Allison Parks (allison.parks@slc.gov) for signature
2024-10-21 - 4:30:55 PM GMT
Email viewed by Allison Parks (allison.parks@slc.gov)
2024-10-21 - 4:33:10 PM GMT
Document e-signed by Allison Parks (allison.parks@slc.gov)
Signature Date: 2024-10-21 - 4:33:43 PM GMT - Time Source: server
Document emailed to victoria.petro@slcgov.com for signature
2024-10-21 - 4:33:52 PM GMT
Email viewed by victoria.petro@slcgov.com
2024-10-21 - 9:16:02 PM GMT
Michelle Barney (Michelle.Barney@slc.gov) added alternate signer victoria.petro@slc.gov. The original signer
victoria.petro@slcgov.com can still sign.
2024-10-23 - 8:14:51 PM GMT
Document emailed to victoria.petro@slc.gov for signature
2024-10-23 - 8:14:51 PM GMT
Email viewed by victoria.petro@slc.gov
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Signer victoria.petro@slc.gov entered name at signing as Victoria Petro
2024-10-23 - 8:16:58 PM GMT
Document e-signed by Victoria Petro (victoria.petro@slc.gov)
Signature Date: 2024-10-23 - 8:17:03 PM GMT - Time Source: server
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2024-10-23 - 8:17:08 PM GMT
Document e-signed by Cindy Trishman (cindy.trishman@slc.gov)
Signature Date: 2024-10-24 - 11:44:58 PM GMT - Time Source: server
Agreement completed.
2024-10-24 - 11:44:58 PM GMT