The Salt Lake City Council approves the downtown revitalization plans

Salt Lake City, Utah – The Salt Lake City Council overwhelmingly approved the plans to revitalize Salt Lake City’s downtown during a meeting on Tuesday.

On July 5, Salt Lake City Mayor Erin Mendenhall’s office released the whole proposal, which represents the joint endeavor of Salt Lake City Corporation and Smith Entertainment Group.

The “Participation Agreement” outlined the plans for the “community-centered sports, entertainment, culture, and convention district downtown.”

“Today’s vote is the first of many steps required to realize the proposed district,” Council Chair Victoria Petro said in Tuesday’s meeting.

The participation agreement will be given to the Capital City Revitalization Committee now that it has been approved by the City Council. After the committee receives the agreement from the city, it has thirty days to review it.

The agreement will be sent back to the Salt Lake City Council for final approval if the committee approves it.

“Upon approval of the final Agreement, the Council has until Dec. 31, 2024, to adopt the sales tax adjustment for the project and authorize the Mayor to sign the Agreement,” a press release from Mayor Mendenhall’s office said.

This year, the Utah legislature passed the Capital City Revitalization Zone Act, which limits the amount of the aforementioned sales tax adjustment, often known as a “Revitalization Tax,” to 0.5%.

The Capital City Revitalization Zone Act states that a tax increase cannot be in effect for more than 30 years after it is implemented.

“This would generate revenues of approximately $1.2 billion over the 30-year life of the agreement, $900 million of which will be dedicated to SEG for its commitment to renovate Delta Center, the surrounding plazas, and the sports, entertainment, culture, and convention district,” the mayor’s office said in the release.

Several council members related personal tales about their ties to Salt Lake City’s downtown during the discussion. Many also conveyed their appreciation to the public for their thoughts and suggestions about the redesign of downtown.

“Thirty years from now or longer, I know we’ll look back at this chapter of Salt Lake City’s history, and remember the countless hours of negotiation and leadership that was necessary to unite the downtown and create this coordinated vision,” Councilmember Eva Lopez Chavez said at the meeting.