PROCEEDINGS OF THE CITY COUNCIL OF SALT LAKE CITY, UTAH
TUESDAY, JANUARY 25, 1983
THE CITY COUNCIL OF SALT LAKE CITY, UTAH, MET IN REGULAR SESSION ON TUESDAY, JANUARY 25, 1983, AT 6:45 P.M. AT ENSIGN ELEMENTARY SCHOOL, 775 12TH AVENUE.
ON ROLL CALL THE FOLLOWING COUNCIL MEMBERS WERE PRESENT: RONALD J. WHITEHEAD ALICE SHEARER GRANT MABEY EDWARD W. PARKER PALMER DEPAULIS.
Council Chairman Grant Mabey presided at and conducted this meeting.
John Hiskey, Executive Assistant to the Mayor, was present at this meeting.
DEPARTMENTAL BUSINESS
SALT LAKE CITY HOUSING AUTHORITY
RE: Resolution approved by the Salt Lake City Housing Authority Board on January 12, 1983, allowing the Housing Authority of the County of Salt Lake to bond for developers on the loan-to-lender program in Salt Lake City. John Hiskey stated that previously the housing authority outlined a proposal to the Council wherein the agency acts as a pass through for bonds to promote apartment housing. The developer gets a low interest rate because of the tax advantages of a person buying the bonds and in return, the developer makes a commitment that for a number of years 20% of the units will service low to moderate income people.
Mr. Hiskey further stated that at the inception, proposals were before the county housing authority and the city housing authority and a resolution was passed at that time that stated if the City were to establish a program then that would be the program for the City in total. In reviewing this, it now appears that both entities are viable in coming out with an issue and the county appears to be timed such that their money would be available several weeks ahead of the City. Mr. Hiskey stated that the impact of not allowing county money in the City inhibits the potential for Salt Lake City. This will not prevent the City’s housing authority from issuing; it enlarges the pool of money.
Mr. Hiskey stated that the housing authority board changed the language in the resolution to permit both the City and county money to be used in Salt Lake City. It is proposed presently that 60 to 120 units be built at 15th West and 300 South. These units would be built as traditional housing units, not public housing; Section 8 guidelines would be used for entry into the units. The board felt that the broadest interest would be met by allowing all monies to be available in the City. The board is seeking Council ratification that county issuance as well as City issuance could be available in the City so that the projects would not be held up in the event that the county issue comes out earlier than the City.
Councilmember Whitehead moved and Councilmember Parker seconded to approve the resolution approved by the Salt Lake City Housing Authority Board on January 12, 1983, allowing the Housing Authority of the County of Salt Lake to bond for developers on the loan-to-lender program in Salt Lake City, which motion carried, all members present voting aye.
(R 83-3)
Meeting adjourned at 7:00 p.m.