June 11th MIDA Board Meeting Recap
Military Installation Development Authority (MIDA) Board Meeting Highlights
June 11, 2024. Link to agenda (redirects to Utah Public Notice Website).
This is an unofficial summary of the Board Meeting produced by MIDA Communications staff. Minutes will be posted to the MIDA Website once they are approved.
Board members present: Adams, Harter, Farrell, Ostermiller, Shepherd, Stevenson, Froerer
Brooke Hontz (above, middle) was honored Tuesday, June 11, by the MIDA Board of Directors with a proclamation honoring her contributions to the MIDA project areas and public-private partnerships. Hontz recently stepped down as the Vice President of Development for Extell Development Company, having served in that role since February of 2015. Hontz thanked the board for the honor, and MIDA for facilitating public-private partnerships that are resulting in the Military Recreation Facility (MRF) project area’s construction of the MWR hotel, environmental clean-up and land preservation – all efforts Hontz contributed to with her leadership and expertise. Pictured with Hontz are Ariana Farber, MIDA Deputy Director, left, and Nicole Cottle, right, Chief Legal and Administrative Officer for MIDA.
BOARD ACTION
- Unanimous Approval of Resolution 2024-06 Adopting a MIDA Amended Budget for Fiscal Year 2023-2024.
- Unanimous Approval of Resolution 2024-07 Adopting a Budget for Fiscal Year 2024-2025 for MIDA.
- Unanimous Approval of Resolution 2024-08 Adopting Amended Budgets for MIDA Project Areas.
Discussion: MIDA CFO Paula Eldredge discussed the need for the adoption of an amended budget to pull about $7 million from the unassigned development fund balance to reflect the purchase of 42 affordable units in the Military Recreation Facility (MRF) project area, and infrastructure development at Falcon Hill. In discussing the upcoming year budget, Eldredge highlighted the following: revenue growth expected as project areas see more development; the Grand Hyatt Deer Valley (home to 100 discounted rooms for service members) will open this 2024-25 winter season; the construction of a 63-room, ADA-accessible inn at Sundance Mountain Resort will commence this year serving wounded veterans and their families; and $6 million in federal grant funds has been awarded for infrastructure improvements at Falcon Hill.
Eldredge also provided an overview of project area 5-year revenue and expenditure projections for both the Falcon Hill and Military Recreation Facility project areas, with MIDA Board Chair, Sen. Stuart Adams, remarking that significant numbers are going to community entities that would not otherwise be seen without project area creation and success.
4. Unanimous Approval of Resolution 2024-09 Approving a Real Estate Purchase Agreement with Pioche Village, LLC, for the Purchase of 42 Condominium Units Located in Building D of the Pioche Village Condominiums Which Are Located Within the MIDA Military Recreation Facility Project Area.
Discussion: MIDA counsel Richard Catten outlined the collaborative partnership between Extell Development and MIDA that created this opportunity for MIDA, with the purchase of Building D, to provide in the very near-term, moderate-income housing. Understanding the great need for attainable, workforce housing, Extell is selling Building D to MIDA below construction carrying costs at $15 million. MIDA will make a $5 million down payment. The 42 units are deed restricted for moderate-income, rental housing and short-term rentals will not be allowed. This is for a minimum of five years and a maximum of 10 years. Extell has already secured a commitment from Grand Hyatt Deer Valley to lease 14 units to its employees.
Pictured above is a one-bedroom unit at Pioche Village Condominiums.
5. Unanimous Approval of Resolution 2024-10 Approving the Marcella Landing Subdivision and Condominium Plat in the Military Recreation Facility Project Area, conditions set by the Development Review Committee.
6. Unanimous Approval of Resolution 2024-11 Approving the Ventana Subdivision Plat in the Military Recreation Facility Project Area, with conditions set by the Development Review Committee.
7. Unanimous Approval of Resolution 2024-12 Adopting a Five-Year Strategic Plan.
Discussion: MIDA Deputy Director Ariana Farber outlined the key components of the strategic plan (link to strategic plan), and highlighted a message from the plan from MIDA Executive Director Paul Morris: “Central to our mission is a steadfast and unwavering support for the military community; for those stationed in Utah and those who travel from afar to experience the many offerings in this great state. As we move towards 2030, I challenge every member of MIDA to keep this commitment at the heart of all we do.”
8. Staff Presentation: Utah Army National Guard Project Area.
Discussion: MIDA Deputy Director Ariana Farber presented a potential new project area consisting of 26 different properties to serve Utah’s Army National Guard with badly-needed infrastructure projects. An example of meeting military mission would be MIDA’s ability to support infrastructure needs such as a new entry control gate at Camp Williams in Bluffdale and on land owned by the city of Tooele.
MIDA board member, Gary Harter highlighted the uniqueness of MIDA within the entire country to seize on this type of opportunity to serve Utah’s National Guard. Creating this new project area will be further discussed at the next MIDA board meeting on Aug. 6.
9. Staff Presentation: Annual Open and Public Meetings Act Training. (Staff Presenter: MIDA counsel Richard Catten)
10. Project Area Updates
Military Recreation Facility – Kurt Krieg (Extell)
Krieg presented several current photos of progress both on the Deer Valley Resort terrain expansion, as well as public infrastructure and residential and commercial projects in the East Village development area. MIDA board members remarked on the beauty of seeing the Jordanelle Reservoir full of water.
Sen. Adams noted that nothing in the world will equal what is being done in the MRF project area, with the MWR hotel – Grand Hyatt Deer Valley – opening at the end of the year (see construction photo below.) Krieg highlighted that room reservations are under way, and 54 of 55 private residences at the Grand Hyatt have been sold.
In other update news, Krieg outlined the ongoing work between Extell and MIDA to advance an exciting public-private partnership to build about 600 attainable housing units on the Marina West parcel (below.) Elliott Work Group, which designed numerous workforce housing projects, including Slopeside Village at the Canyons in Park City, has been retained as architects to develop a site plan at Marina West. A site plan submittal is expected mid-July.
Falcon Hill – Taylor Woodbury (SRDP) provided updates on several significant infrastructure projects, including the 1800 North Interchange; the 3 Gate Trail; the road connection to 200 South; and the South End Development Masterplan.
Immediately following the MIDA board meeting, the P3+ Board of Directors meeting was convened.
Board Action
- Approval of Resolution 2024-01 Adopting a P3+ Amended Budget for the Fiscal Year 2023-2024.
- Approval of Resolution 2024-02 Approving the Dissolution of P3+.
Discussion: Advisor Nicole Cottle walked through the resolution, explaining that the subsidiary governmental non-profit P3+ was created in 2020 to facilitate partnerships throughout Utah in conjunction with the Governor’s Office of Economic Opportunity; with the contract with that office concluding on June 30 of this year, P3+ does not intend to extend or enter into any new agreements, having successfully facilitated the largest public-private partnerships in the state while also facilitating partnerships of all sizes with local government partners, maintained a pipeline of nearly 100 potential projects, constructed databases of needed infrastructure across the state and private sector partners who desire to do business in Utah, as well as maintained a military-centric focus.