PROCEEDINGS OF THE CITY COUNCIL OF SALT LAKE CITY, UTAH
THURSDAY, OCTOBER 3, 1985
THE CITY COUNCIL OF SALT LAKE CITY, UTAH, MET AS A COMMITTEE OF THE WHOLE ON THURSDAY, OCTOBER 3, 1985, AT 5:00 P.M. IN ROOM 211 CITY AND COUNTY BUILDING.
THE FOLLOWING COUNCIL MEMBERS WERE PRESENT: RONALD WHITEHEAD THOMAS M. GODFREY GRANT MABEY ROSELYN N. KIRK SYDNEY R. FONNESBECK EDWARD W. PARKER EARL F. HARDWICK.
Mayor Palmer DePaulis, Albert Haines, chief administrative officer, Roger Cutler, city attorney, Kathryn Marshall, city recorder, and Lynda Domino, chief deputy recorder, were absent from the meeting.
Council Chairperson Fonnesbeck presided at the meeting.
DEPARTMENTAL BUSINESS
FINANCE DEPARTMENT
#1. RE: Industrial Revenue Bond for Champion-Commercial Joint Venture.
ACTION: Councilmember Whitehead moved and Councilmember Godfrey seconded to adopt Resolution 127 of 1985, subject to the City Attorney’s review, authorizing and inducing the execution of a memorandum of agreement with Champion-Commercial Joint Venture, or any affiliated group, regarding the issuance of $8 million of Industrial Development Revenue Bonds for the acquisition, renovation, and construction of the Commercial Club Building and Boston Building Parking Terrace on Exchange Place, subject to the following: That the applicant meet all necessary financial requirements and produce the necessary financial statements required by the city. Because this project is located in the Exchange Place Historic District, and because the developer is requesting public assistance, the Council stipulates that a unified development plan be submitted for City Council review and comment prior to any construction or demolition on the project. The intent of this condition is to assure development that will be consistent with the historic character of surrounding buildings. Which motion carried, all members voting aye except Councilmembers Fonnesbeck and Hardwick who voted nay.
(Q 85-11)
The meeting adjourned at 6:45 p.m.