Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Housing Affordability topic
No spam. Unsubscribe anytime.
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 at Ivory University House for qualifying students. To be eligible, students must (1) be classified by the University of Utah as having significant financial need through the federal student financial aid process and (2) have parents or guardians whose primary address is in Salt Lake City. The university would be involved in certifying student financial‑need eligibility because that information is confidential.
Staff estimated the stipend funding would support about 180 stipends over the life of the program, depending on unit types and actual uptake. Rents at Ivory University House range by unit type; staff said examples ranged from about $1,000 per month (bedroom in a congregate unit) to about $1,500 for a studio; a 60% stipend on a $1,500 unit would cover about $900 monthly.
Why it matters: The council had previously appropriated the funds in Budget Amendment 2 contingent on approval of final terms. At the meeting, staff sought a straw poll to approve those terms and permit execution of the agreement. Councilmembers raised questions about stipend levels, annual reporting, and whether funds would carry forward if not fully expended each year. Staff said an annual report will be required and that any unspent funds after an 18‑year period would return to the city; staff also said the administration can revisit terms in future years if circumstances change.
Outcome: The straw poll passed with five members in favor and two opposed. Staff said they expect the funds to be expended faster than the maximum 18‑year window but will return with annual reporting on stipend recipients and fund usage.
