close
close

SLC Council reaches key agreements on West Side project

SLC Council reaches key agreements on West Side project

After months of haggling over what the Energy District should look like, the Salt Lake City City Council on Tuesday signed off on a set of zoning rules and agreements that will guide how the Larry H. Miller Co. builds the ambitious project on the west side will expand.

Council members voted unanimously Tuesday to approve a development agreement with LHM, associated zoning rules and a city service reimbursement agreement with the Utah Fairpark Area Investment and Restoration District, the state-created taxing authority responsible for encouraging new growth in the project area Temple is responsible for the north.

After a final briefing on the development agreement, City Council President Victoria Petro said city officials had been mindful of residents’ interests during negotiations and carefully considered the massive changes coming to the west side.

“Big and different does not mean bad, scary or wrong. It means big and different.” Petro said. “We are a city in transition.”

The approvals came as a year-end deadline set by the Utah Legislature approaches. If the deadline had passed without the agreements in place, the city would have lost all power to influence what is built as part of the roughly 100-acre project full of new housing, restaurants, office space and, if LHM is enforced, a baseball stadium the major league.

SLC’s deal with LHM

(Larry H. Miller Co.) Larry H. Miller Co. released renderings of the Power District project on February 15, 2024.

The final terms of the development agreement codify a number of items that were on the city’s wish list, from affordable housing to nondiscrimination protections for residents using the project’s open space. The agreement stipulates that LHM will attempt to attract a professional baseball team and that the ball club will play its games at the stadium within the project area.

The city government pushed to include below-market apartments in the development. In the end, the company agreed that at least 10% of all units built will be for those earning 80% of the metro area median income, which is about $92,400 for a family of four. 20% of all residential units in the district are guaranteed to have at least two bedrooms.

Westsiders have long shared concerns that the major project would accelerate gentrification, arguing that a diversity of housing options could prevent some displacement.

To ensure that a future stadium will not be used solely for baseball, the development agreement includes guarantees to establish an approval process to authorize other events.

LHM has also committed to submitting a master transportation plan to the city, which will include plans for pedestrian and cyclist access to the project.

The city agreed to change its rules protecting waterways and allow some construction within 100 feet of the Jordan River.

Instead of adhering to city regulations that limit building heights near the airport, LHM will bypass City Hall and ask the Federal Aviation Administration for permission to build tall towers.

If Salt Lake City attempts to attract another MLB team during the first 20 years of the contract, LHM has the right to terminate the contract.

Municipal Services Agreement

(Larry H. Miller Co.) Larry H. Miller Co. released renderings of the Power District project on February 15, 2024.

Council members also reached a deal with the Utah Fairpark Area Investment and Restoration District that gives both parties more time to negotiate a longer-term agreement on how the city will be compensated for providing services such as policing, fire protection and water and sewer services new district.

The one-year contract approved Tuesday reflects revenue-sharing provisions set forth in the state law that created the taxing district. Under the agreement, the city retains tax revenue from properties already within the boundaries of the project area, as well as 25% of revenue from new growth.

None of the agreements approved by the council received a public hearing Tuesday evening, and the final terms of each agreement were not made publicly available until after 5:30 p.m

Leave a Reply

Your email address will not be published. Required fields are marked *