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Council gives straw‑poll approval to release $1.75 million for Ivory University House housing stipends under negotiated terms
Summary
The council conducted a straw poll and indicated support (5‑2) for final terms of a city contribution up to $1.75 million to Ivory University House to fund housing stipends for qualifying University of Utah students whose parents reside in Salt Lake City.
The City Council indicated support in a straw poll for final terms that would allow the administration to execute an agreement to disperse up to $1.75 million to Ivory University House in five annual installments to fund housing stipends for University of Utah students.
Under the negotiated terms presented by city staff, funds would be paid in five equal annual installments ($350,000 per year). Rather than reserving a specific number of units, the agreement would provide housing stipends that cover 60% of the standard rental rate…
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