Click here to view entire resolution
RESOLUTION NO. 38 OF 2019
A Resolution Authorizing the Lease Rate and Term for the
the Magnolia Permanent Supportive Housing Located at 165 South 300 East
WHEREAS, STH Magnolia, LLC, a Utah limited liability company (“Shelter the Homeless”), wholly owned and managed by Shelter the Homeless, Inc., a Utah nonprofit corporation, advances the goals of the City to assist individuals experiencing homelessness within Salt Lake City; and
WHEREAS, the primary beneficiaries of the construction of the Magnolia permanent supportive housing project (the “Magnolia”) will be individuals experiencing chronic homelessness who are transitioning into housing from the new Homeless Resource Centers as part of the City, County, and State’s efforts to address the homelessness and housing crisis in Salt Lake City; and
WHEREAS, the below-market 99-year ground lease to Shelter the Homeless will facilitate the development of the Magnolia, which would otherwise be financially unfeasible; and
WHEREAS, the City is willing to provide assistance to Shelter the Homeless in the form of a ground lease rate for City property in the amount of $12.00 per year for a term of 99 years, so long as the conditions of the ground lease between Shelter the Homeless and the City are met (the “Lease Fee Waiver”); and
WHEREAS, Utah Code Section 10-8-2(1)(a)(v) allows public entities to provide nonmonetary assistance and waive fees to and for nonprofit entities after a public hearing; and
WHEREAS, though Utah Code Section 10-8-2 does not require a study for such waiver or assistance, in this case the Administration voluntarily performed an analysis of the nonmonetary assistance to the nonprofit corporation (the “Analysis”); and
WHEREAS, the City Council has conducted a public hearing relating to the foregoing, in satisfaction of the requirements of Utah Code Section 10-8-2; and
WHEREAS, the Council has reviewed the Analysis, and has fully considered the conclusions set forth therein, and all comments made during the public hearing;
THEREFORE, BE IT RESOLVED by the City Council of Salt Lake City, Utah, as follows:
1. The City Council hereby adopts the conclusions set forth in the Analysis, and hereby finds and determines that, for all the reasons set forth in the Analysis, the Lease Fee Waiver is appropriate under these circumstances.
Passed by the City Council of Salt Lake City, Utah, this 3rd day of December, 2019.