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State panel approves Central Station HTRZ with $370 million cap; CRA to finalize interlocal
Summary
CRA staff said the state HTRZ committee approved a Central Station HTRZ with a $370 million cap over multidecade period, trimmed from an earlier $550 million request; the CRA will return with an interlocal to finalize local agreements.
Salt Lake City CRA staff told the board they received approval from the state HTRZ committee for a Central Station HTRZ that carries a cap of $370 million over an extended time period.
The approval covers development uses around the intermodal hub, staff said, and is intended to support affordable housing, structured parking, higher‑density residential development and infrastructure improvements. The agency originally requested up to $550 million; staff said the committee removed funding for some enhanced commercial development and other infrastructure, reducing the cap to $370 million.
“We still feel confident that the amount of money is sufficient for the projects that we are planning on proceeding with,” the staff presenter said. Staff said the CRA and the city will return to the board with an interlocal agreement to finalize roles and responsibilities.
The approval is by an external state committee; the CRA must still complete a local interlocal to implement the HTRZ funding and project plan.
