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REDEVELOPMENT AGENCY OF SALT LAKE CITY
RESOLUTION NO. R-11-2017
Disposition Requirements for Real Property Located at 1500 West North Temple
RESOLUTION OF THE BOARD OF DIRECTORS OF THE REDEVELOPMENT AGENCY OF SALT LAKE CITY (“RDA”) FOR DISPOSITION REQUIREMENTS FOR REAL PROPERTY LOCATED AT 1500 WEST NORTH TEMPLE
WHEREAS, on October 24, 2017, the RDA Board of Directors (“Board”) appropriated $4 million for the purpose of acquiring that certain real property located at 1500 West North Temple, known as the Overniter Motel (“Property”).
WHEREAS, subsequent to the appropriation, the Board considered and approved certain conditions for the method and terms of the RDA’s disposition of the Property, as described herein.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE REDEVELOPMENT AGENCY OF SALT LAKE CITY, that:
SECTION 1. Method of Disposition. The RDA will dispose of the Property pursuant to a Request for Proposals (“RFP”), with the intention of receiving responses by the end of the calendar year.
SECTION 2. Terms of RFP. The RFP shall include a requirement that the development of the Property will not include more than 50% of affordable units. The RFP will also require that any development of the Property will meet the applicable policy goals of Salt Lake City’s Transit Station Area zoning.
Passed by the Board of Directors of the Redevelopment Agency of Salt Lake City, Utah, this 24th day of October, 2017.