While Smith Entertainment Group confirmed it is “prepared to sink at least $3 billion of its own money” into a downtown district that “pledges to breathe new life” into Salt Lake City, there are still crucial details of the massive project that remain “murky,” according to Apgar & Larsen of the SALT LAKE TRIBUNE. Mike Maughan, longtime business partner of Jazz owner Ryan Smith, told the Salt Lake City Council that the proposed district would “potentially include a medals plaza for a return of the Winter Olympics, leave beloved destinations like Abravanel Hall and the Utah Museum of Contemporary Art ‘on-site,’ and create a more walkable downtown with better connection points.” The public’s “first extended opportunity to weigh in on the nebulous proposal” will come May 21. Maughan said that SEG could “collect as much as” $900M from a “proposed half-a-percentage-point sales tax increase” that the City Council will consider. SEG also has asserted that it would “need additional tax revenue in the form of property tax increment in its April application to kick off negotiations.” Apgar & Larsen noted it “remains unclear” how exactly the organization plans to spend those taxpayer funds. Salt Lake City Mayor Erin Mendenhall noted that the city is “still working through the details” of a potential sports and entertainment district, “including a site plan and 30-year operational plan.” Maughan said that the district is “going to be a hub of activity downtown that is safe, walkable and a catalyst for community gatherings, arts and cultural events.” Maughan said that SEG is in “deep conversations” with the Olympics about “putting a new medals plaza in the middle of the proposed district.” The council is scheduled to cast a final vote on a deal July 2, but city officials “stressed that the date of a decision could change to accommodate more time for negotiation” (SALT LAKE TRIBUNE, 5/7).
