Utah's capital city and the Beehive State's professional sports giants could reach an agreement by early July in a move that could transform downtown.
(Ryan Smith via X) Utah Jazz owner Ryan Smith posted this rendering of the proposed downtown sports and entertainment district at X in February. The city and Smith are moving forward with plans for the area, including an NHL arena.
Utah's backward-hat-wearing billionaire has put a lot of money into a partnership with Salt Lake City. If all goes well, a new sports and entertainment district will be created in the heart of the state capital.
Utah Jazz and Real Salt Lake owner Ryan Smith has applied to work with the city on a proposal to turn an area of downtown into a professional sports hub with the goal of promoting year-round activities. City Attorney Katherine Lewis told City Council members. Tuesday.
Lewis said Smith Entertainment Group submitted an application on April 4 and city officials are reviewing it.
“Anyone who understands the gravity of the situation understands that this is a huge opportunity to do some generational good,” City Council President Victoria Petro said. “It's also a huge responsibility to make sure it goes right so that we don't leave any mistakes that future generations will feel they have to undo.”
A representative for Smith Entertainment Group confirmed the filing of the application but had no additional comment.
News of the application to formally work with the city on a downtown revitalization zone around Delta Center comes on the heels of reports that Smith intended to buy the NHL's Arizona Coyotes, something that was always expected. was.
Earlier this year, Smith lobbied lawmakers to pass SB272, a bill that would create a pathway to partnership. Mayor Erin Mendenhall declared it “truly transformative” for the city.
Under the law, the city could issue up to $1 billion in bonds, which would be repaid by increasing the city's sales tax rate by 0.5 percentage point to 8.25%.
The application must indicate the site of the existing or proposed stadium and list the professional sports teams owned by the applicant. Smith has expressed his desire to build an NHL-specific arena.
“We believe this application is a kickoff from the applicant to Salt Lake City and then begins the contract negotiation process on what and how the 0.5 sales tax will be used,” Lewis said.
City Councilman Darin Mano said he is looking forward to what the project will mean for the city. He also sees this as an opportunity to right a historical wrong.
“Sometimes we have a responsibility to undo the mistakes made by previous leaders,” he said. “And in this case, we are dealing with the racially fueled 'urban renewal' that led to the land and expropriation of Salt Lake City's historic Japantown in the 1960s to make way for the Salt Palace.” We have an opportunity to get the project back on track.”
Mano said he is not taking the decision to raise taxes lightly and is unsure of where the topic will end, but he does want the project to include “true reparations for Japantown.” He said he is confident that new sports and entertainment will be born. “The most meaningful, culturally rich, and historically significant sports entertainment district in the entire nation.”
The city has the opportunity to negotiate the boundaries of the project area and has until September to negotiate a participation agreement with Smith Entertainment Group.
However, city officials are working on a faster schedule.
City Council members will hear another briefing on the terms of the draft agreement from city and Smith Entertainment Group officials on May 7.
A public hearing on the agreement is scheduled for May 21, and a final vote could take place on July 2.
