Ryan Smith spoke generally about how he wants to reimagine downtown Salt Lake City around the Delta Center to enhance the experience of watching a Utah Jazz or Utah Hockey Club game. .
But an application filed by Smith Entertainment Group with the city seeking a 100-acre revitalization zone under new state law gave a little more insight into what will happen around the arena in the coming years. No specific plans are included.
SEG proposes to develop the area as a sports and entertainment district with a variety of commercial uses, including retail, restaurants, hospitality, multifamily housing, other entertainment and cultural uses, and parking. This includes renovating the Delta Center over several offseasons to accommodate both the Jazz and hockey teams.
“Development of the project area, including the transformation of Delta Center, will require extensive redevelopment, urban renewal and restructuring, which will likely include rerouting, permanent closures and “This may include bridging certain surrounding roads.”
In addition, SEG required the city to remove maximum height restrictions within the project area and allow for “arena,” “stadium,” “helipad,” “commercial parking,” and “off-site parking.” It is hoped that the zoning ordinance will be amended to specify the zoning regulations. .
SEG filed a seven-page document with the mayor’s office on April 4, two weeks before the NHL announced that Ryan Smith and Ashley Smith had purchased the Arizona Coyotes on April 18. The Deseret News requested the request on April 17 under Utah’s public records access law, but the city denied it, citing “trade secrets.” The paper appealed, and the city filed documents late Thursday saying SEG waived its trade secret claims.
Earlier this year, the Utah State Legislature, with support from Salt Lake City and Salt Lake County, passed a bill authorizing the creation of a downtown revitalization zone. Under the legislation, the city could raise the current 7.75% sales tax rate by 0.5 percentage point to 8.25% within 30 years to fund sports arena construction or renovations. The tax increase could result in a loss of nearly $1 billion.
“To make the subject property financially viable, maximize the overall positive impact of the project on the surrounding community, and justify the significant private investment, significant public funding is required in connection with the development of the SEG.” “Project Area” is required in the application.
In its application, SEG proposed receiving “the full amount” for 30 years. The tax would be deducted from 1% of taxes collected in administrative fees to the city and an undetermined amount agreed to with Salt Lake County for renovations to the Salt Lake Palace Convention Center. SEG also said the project could require tax increment financing and the creation of a public infrastructure district.
“Tax increment financing provides critical, long-term benefits to projects, including promoting, creating, and retaining jobs, increasing surrounding real estate values, increasing outside private and public investment, increasing tax revenues, and improving overall aesthetics and functionality.” “It will be justified on the basis of the positive impact it will have on the project area and its surrounding area, enhance cultural and entertainment opportunities, increase tourism, and enhance the vitality of Salt Lake City as a whole,” according to the application. ”
Delta Center is currently part of a property tax reimbursement agreement with the Salt Lake City Redevelopment Authority that began in 2019 and runs through 2040, according to documents. To date, SEG has received approximately $3.5 million of the maximum $22.7 million for this period. SEG also leases the block where Delta Center is located from RDA and is offering a new 99-year lease on the same terms. It also hopes to lease two more blocks east of the arena from Salt Lake County, although the purpose is not specified in the documents.
The application doesn’t include a specific blueprint, but at a press conference announcing the Coyotes’ move to Utah last month, Smith said, “I can’t wait to show you the plan for how we’re going to do it.” said.
At the press conference, Smith talked about his vision for downtown Salt Lake City and mentioned a recent visit with government officials to L.A. Live in downtown Los Angeles.Surrounding sports and entertainment district Crypto.com Located next to the Los Angeles Convention Center, the arena includes sports venues, music venues, nightclubs, restaurants, bowling alleys, museums, and movie theaters.
Smith said the fan experience should start before they even enter the arena. He said he would like to see families heading downtown for a night game at 3 p.m., then hanging out afterward. He is also keen to provide housing so players can live next door. He also talked about improving flow between the Delta Center and the convention center and other downtown attractions.
“It’s not about renovating the arena. It’s not. It’s about everything else around it,” he said.
Salt Lake City Mayor Erin Mendenhall told the state Legislature in February that the project would connect the east and west sides of downtown, including Delta Center, Temple Square, the Theater District, City Creek Mall and Gateway Mall. Told.
Smith sidestepped a question about whether residents would support a tax increase for the project.
“It’s going to cost everyone. It’s going to take away the county and the city from a tax standpoint, but we’re going to generate a lot of revenue,” he said. “I think in the future everyone will look back and say, ‘Oh, we made the investment at a time when we needed to revitalize and rethink, and it worked out.'”
