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CRA increases USA Climbing allocation by $250,000 to support reconstruction of historic Mattress Company building
Summary
The CRA board approved a $250,000 increase (to a $6.25 million maximum) to USA Climbing’s term sheet to accommodate higher costs tied to incorporating the Salt Lake Mattress Company building into the organization’s headquarters and training center; board debated preservation vs. reconstruction and added language limiting future funding requests for the structure.
The Community Reinvestment Agency board on March 10 approved a modification to USA Climbing’s lease/term sheet that raises the CRA’s maximum allocation for the project by $250,000, bringing the total cap to $6.25 million.
The action addressed a roughly $1.3 million funding gap the applicant identified for adaptively reusing the historic Salt Lake Mattress Company building. CRA staff presented three pathways: full…
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