County holds $10M from transportation fund that could go to downtown district plans
Nov 11, 2024, 7:30 AM
A view of the University of Utah, downtown Salt Lake City and the Great Salt Lake is visible from Red Butte Garden in Salt Lake City on Thursday, May 11, 2023. (Laura Seitz, Deseret News)
(Laura Seitz, Deseret News)
SALT LAKE CITY — Salt Lake County leaders agreed to hold a little over $10 million from a transportation fund that could ultimately go toward a massive overhaul of the Salt Palace Convention Center, but not before a somewhat heated debate on whether it was an appropriate use of the funds.
The vote took place during Tuesday’s Salt Lake County Council meeting, where members reviewed uses for the fourth-quarter transportation revenue in the county’s possession. The fund is based on a sliver of money the county receives in sales tax.
About $58 million remains in the county’s hands, which it can allocate to various transportation projects. Salt Lake County Mayor Jenny Wilson requested holding a little more than half of that for “possible dedication or future revenue uncertainty,” but it could be some of the initial funds the county allocates to the downtown revitalization project following a partnership agreement between Salt Lake City and Smith Entertainment Group.
The agreement those sides made includes a 0.5% citywide sales tax increase to help repay a $900 million bond, as well as a provision that Smith Entertainment Group — the owner of the Utah Jazz and Utah Hockey Club — secure a lease with Salt Lake County over two blocks east of the Delta Center.
Read the full story and more from Carter Williams on ksl.com.
