State of Utah

GARY R. HERBERTGovernor

SPENCER J. COXLieutenant Governor

PAB Agenda

Q. VAL HALEExecutive Director

BENJAMIN HARTDeputy Director

MEMORANDUM

To: Private Activity Bond Authority Board MembersFrom: John T. Crandall, ChairmanDate: October 4, 2017Subject: Meeting Announcement and Agenda for October 11, 2017

The next meeting of the Private Activity Bond Review Board will be held on Wednesday, October 11, 2017, at 9:00 a.m., at the Governor's Office of Economic Development, World Trade Center at City Creek, 60 East South Temple, 3rd Floor, Canyonlands Conference Room, Salt Lake City, Utah. Validated parking is available in the City Creek Center parking garage. Please see the attached map for directions.

AGENDAPage

I. Welcome and Introductionsa. Jess Petersonb. MOU draft

II. Approval of Minutes (July 12, 2017) 1

III. Status of Accounts 11

IV. Volume Cap Extension Requests ExtensionRequested

A. Single Family Account Third 19Single Family HousingIssuer – Utah Housing CorporationOriginal Allocation - $128,232,300

B. Multi-Family Housing Projects

1. Moda Meadowbrook Second 21145 Units – All AffordableMurray, UtahDeveloper – JF Capital

60 East South Temple, Third Floor • Salt Lake City, Utah 84111 • (801) 538-8680 • business.utah.gov

10/11/17Page II

IV. Volume Cap Extension Requests (cont.) ExtensionPage

RequestedB. Multi-Family Housing Projects (cont.)

2. Liberty Uptown Second 23109 Units – 46 Affordable; 63 Market-RateSalt Lake City, UtahDeveloper – Cowboy PartnersOriginal Allocation – $16,500,000

3. Cornell Street Apartments Fourth 27146 Units – 131 Affordable; 15 Market-rateSalt Lake City, UtahDeveloper – Little Diamond HousingOriginal Allocation – 15,000,000

4. The Hub of Opportunity Fourth 3199 Units – 89 Affordable; 10 Market-rateSalt Lake City, UtahDeveloper – Columbus FoundationOriginal Allocation – $14,000,000

5. Liberty on Main Sixth 35120 Units – 60 Affordable; 60 Market-rateCity of South Salt Lake, UtahDeveloper – Cowboy PartnersOriginal Allocation – $12,000,000

6. Liberty Crossing Sixth 39108 Units – 22 Affordable; 86 Market-rateCity of South Salt Lake, UtahDeveloper – Cowboy PartnersOriginal Allocation – $3,500,000

PAB Agenda10/11/17Page III

V. Volume Cap Allocation Requests AmountRequested

A. Multi-Family Housing Projects

1. Garden Lofts 43272 Units – All AffordableSalt Lake City, UTDeveloper – Wasatch Residential Group, LLCAllocation - $27,300,000

2. TriView Apartments 51326 Units – All AffordableDraper, UTDeveloper – Triago Ventures, IncAllocation – $31,308,000

3. Lakeview Heights Apartments 5984 Units – All AffordableClearfield, UTDeveloper – Hampstead Lakeview Partners, L.P.Allocation – $10,034,000

VI. Action Items

A. Scoring Criteria Proposed Changes

1. Multi-Family Housing Criteria 69

2. Multi-Family Housing Scoring Matrix 73

VII. Other Business and Adjournment

A. Policy update – Debbie Kurzban

B. 2018 Meeting Schedule 75

C. Next Meeting – Wednesday, December 13, 2017, 9:00 a.m.

a. Application deadline is October 30, 2017.

In compliance with the Americans with Disabilities Act, individuals needing special accommodations (including auxiliary communicative aids and services) during this meeting should notify Jess Peterson, Private Activity Bond Authority Board, 60 East South Temple, 3rd Floor, Salt Lake City, Utah, (801) 468-0145, at least three working days prior to the meeting.

Parking Instructions

Validated parking is available from our office to park in the City Creek Center Parking Garage. Directions to our office and to the parking garage are listed below the map.

(Note: If you enter the parking garage from South Temple, the Food Court elevators will be on the left. If you enter the parking garage from First South, the Food Court elevators will be straight ahead on the right. Take the Food Court elevators to Level 1 (L1). Once inside the Food Court, take the escalator in the northwest corner to the second floor. The escalator is located to the right of the Chick-fil-A counter. At the top of the escalator, note the marquee sign for the World Trade Center elevators. Take elevators designated for Floors 1-12 only, to Floor 3. Please allow 10-15 minutes to park and walk to our office.)

Need additional assistance? Please contact our receptionist at 801-538-8680.