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HomeMy WebLinkAboutProposed Resolution - 4/8/2025RESOLUTION NO. OF 2025 (Creating the Downtown Revitalization Public Infrastructure District and Authorizing and Approving the Governing Document and the form of the Interlocal Agreement) WHEREAS, during the 2025 general legislative session, the Utah legislature passed the Housing and Transit Reinvestment Zone amendments, which, among other things, provides for the creation of a convention center public infrastructure district in a capital city for the purposes of financing any improvements that serve the County -owned convention center (commonly known as the Salt Palace), privately owned improvements if the improvements are allowed use of funds under Section 63N-3-1403 (Capital City Revitalization Zone), and a convention center revitalization project as defined in Section 63N-3-602 (Housing and Transit Reinvestment Zone); and WHEREAS, the Housing and Transit Reinvestment Zone amendments provide for an expedited timeline for the City to act once it receives a petition to create a convention center public infrastructure district in a capital city including providing the City a limited timeframe to propose modifications to the petition and associated documents; and WHEREAS, on March 17, 2025, the City received a petition filed by John Larson on behalf of Jazz Arena Investors, LLC, requesting adoption by resolution approving the creation of a convention center public infrastructure district in a capital city (District) pursuant to the Public Infrastructure District Act, Title 17D, Chapter 4 and relevant portions of the Limited Purpose Local Government Entities - Special Districts, Title 17B (collectively, the PID Act), within the City for the purpose of financing certain Improvements, as more specifically defined in the Governing Document attached as Exhibit A; and WHEREAS, the petition proposes that the District boundaries are Block 79 in downtown Salt Lake City, more commonly known as the Delta Center and as described and depicted on the map attached as Exhibit B; and WHEREAS, the petition proposes that the District is necessary for the purpose of financing the construction of certain Improvements, as defined in the Governing Document; and WHEREAS, the petition provides that the District's Trustees shall be appointed consistent with the PID Act, and as more specifically set forth in the Governing Document; and WHEREAS, the PID Act provides that the District and City shall enter into an Interlocal Agreement pledging certain City funds to the District, including the .5% sales and use tax authorized under the Section 59-12-402.5 and 63N-3-1403 (Capital City Revitalization Zone) and Section 59-12- 2220 (County Option Sales and Use Tax), the form of the Interlocal Agreement is attached as Exhibit C; and WHEREAS, pursuant to the terms of the PID Act, the City may create a public infrastructure district by adopting a resolution of the City Council and with consent of 100% of all surface property owners proposed to be included in the district (the Property Owners); and WHEREAS, the petition, containing the consent of the single Property Owner, has been certified by the City Recorder pursuant to the PID Act; and WHEREAS, the City, prior to consideration of this Resolution, held a public hearing after 6:00 p.m. to receive input from the public regarding the creation of the District and the Property Owner waived the 60-day protest period pursuant to Section 17D-4-201 of the PID Act; and WHEREAS, the hearing on the Petition was held at the City Hall because there is no reasonable place to hold a public hearing within the District's boundaries, and the hearing at the City Hall was held as close to the applicable area as reasonably possible; and WHEREAS, the City properly published notice of the public hearing in compliance with Section 1713-1-211(1) of the Act; and WHEREAS, the Property Owner did not submit a withdrawal of consent to the creation of the District before the public hearing on the Petition; and WHEREAS, it is necessary to authorize the creation of the District under and in compliance with state law and to authorize other actions in connection therewith; and WHEREAS, the governance of the District shall be in accordance with the PID Act and the terms of the Governing Document; and NOW, THEREFORE, be it resolved by the City Council of Salt Lake City, Utah, as follows: 1. The District is hereby created as a separate entity from the City in accordance with the Governing Document and the PID Act. The boundaries of the District shall be as set forth in the Governing Document. 2. The District is authorized to provide services relating to the financing of Improvements within and without the District boundaries, as set forth in the Governing Document. 3. The creation of the District is in the best interest of the City, and the organization of the District pursuant to the PID Act is hereby approved. 4. The Governing Document in the form attached hereto as Exhibit A is hereby authorized and approved and the District shall be governed by the terms thereof and applicable law. 5. The Interlocal Agreement in the form attached hereto as Exhibit C is hereby authorized and approved, subject to any modifications recommended by the City Attorney's Office. The effective date of the Interlocal Agreement shall be the date that the agreement is executed by both parties. 6. The following shall be appointed as Trustees of the District: a. Trustee 1 — John Larson, for an initial 6-year term; b. Trustee 2 — Mike Maughan, for an initial 4-year term; c. Trustee 3 —Andrew Smith, for an initial 6-year term; d. Trustee 4 — Blake Thomas, for an initial 4-year term; and e. Trustee 5 — Darrin Casper, for an initial 6-year term. 7. The Mayor and City Attorney are authorized to make any corrections, deletions, or additions to take any actions required by law to formalize the District. Passed by the City Council of Salt Lake City, Utah on .2025. Salt Lake City Council Chris Wharton, Council Chair Attest: Keith Reynolds, City Recorder Approved as to form: /s/Mark Kittrell Mark Kittrell, City Attorney EXHIBIT A [Governing Document] EXHIBIT B EXHIBIT C [Form of Interlocal Agreement]