Bill would pledge at least $900 million for new MLB stadium in Salt Lake City
Feb 21, 2024, 9:27 AM | Updated: Mar 8, 2024, 4:28 pm
A digital rendering of The Power District, as proposed by the Larry H. Miller Company. (Larry H. Miller Company)
(Larry H. Miller Company)
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SALT LAKE CITY— A Utah lawmaker introduced a new bill that seeks to support a proposed development. The development would include a new Major League Baseball stadium on the west side of Salt Lake City.
House Bill 562, sponsored by Rep. Ryan Wilcox (R-Ogden), would create the Utah Fairpark Area Investment and Restoration District. It would also establish a board to govern it.
The bill aligns with a proposal released last week by the Larry H. Miller Company. The company wants to completely transform a huge area along North Temple between Redwood Road and the Jordan River. The company has pledged $3.5 billion towards that project. Like the bill, it includes funding for a new MLB stadium.
Wilcox’s bill would put no less than $900 million of taxpayer dollars on the table for developing the Fairpark District. That number is “half the actual cost of developing and constructing the qualified stadium,” according to the bill.
In terms of where the rest of the money would come from, the bill lists several forms of tax revenue from properties and other sources within the Fairpark District.
Currently, the bill would only impact one statewide tax. It would raise the hotel tax, which is predominately paid by out-of-state visitors.
The state hotel tax rate currently sits at 0.32%. This bill would hike it to 1.92%.
The bill has yet to be heard by a committee. To become law, it needs to clear two committees, the House and Senate, and get the governor’s signature.
The bill would have to make it over each hurdle before the end of the 2024 General Legislative Session. It ends in just over a week.
Related: Larry H. Miller Company releases plans for west side development, including an MLB stadium
