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RESOLUTION 23 of 2016
Authorizing approval of the first amendment to the Operating Agreement for the Utah Performing Arts Center (Eccles Theater)(UPAC)
WHEREAS, the Operating Agreement for the Utah Performing Arts Center (“Operating Agreement”) was executed by and between the Utah Performing Arts Center Agency, an interlocal entity and political subdivision of the State of Utah (“Owner”), Salt Lake City Corporation, a Utah municipal corporation (“City”), the Redevelopment Agency of Salt Lake City, a public agency (“RDA”) and Salt Lake County, a body corporate and politic of the state of Utah (“County”), with an effective date of March 19, 2013; and
WHEREAS, the Operating Agreement set forth certain requirements for Salt Lake County Center for the Arts (“Operator”) to operate the George S. and Dolores Doré Eccles Theater, formerly known as the Utah Performing Arts Center (“Theater”), beginning on March 19, 2013 and ending on December 31, 2041; and
WHEREAS, when the Operating Agreement was executed, the parties intended Owner to retain programming and event control over the UPAC Site, as such term is defined in the Operating Agreement; and
WHEREAS, Owner, City, and RDA now intend for Operator to operate the UPAC Site, and the parties share the goal of activating and maximizing revenue generation at the UPAC Site; and
WHEREAS, pursuant to Section 8.8 of the Operating Agreement, the Parties desire to enter into an amendment to the Operating Agreement (“Amendment”) to require Operator to operate the UPAC Site in addition to operating the UPAC Building; and
WHEREAS, as a condition of approving the Amendment, the City Council requests an annual review of the Operator’s budget for the operation of the UPAC Site.
THEREFORE, BE IT RESOLVED by the City Council of Salt Lake City, Utah that the First Amendment to the Operating Agreement, in the form attached, is hereby approved, subject to the condition above regarding budget review.
Passed by the City Council of Salt Lake City, Utah this 12th day of July, 2016.