Salt Lake City — Informal terms of the deal between Smith Entertainment Group and Salt Lake City to create a revitalization zone were made public Tuesday, with a key provision that a set amount of each ticket sold at Delta Center will be returned to the city.
This is just one provision in the contract, which also contains many other “public interests” agreed to by both parties.
Smith Entertainment Group and the city must approve the deal, called a participation agreement, before Salt Lake City can vote to raise sales taxes on city residents by up to 0.5 percent to fund renovations of the Delta Center and the revitalization of the two blocks east of it.
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“We feel great about the public benefit, the safety of our teams, the revitalization of not only the Delta Center but so many other things,” Salt Lake City Mayor Erin Mendenhall said shortly after the City Council work session where the plans were announced.
Smith Entertainment Group also expressed confidence in the agreement.
“We’ve said many times that if you just give us the perfect arena, we wouldn’t do this. We have so many other options, and that’s because we’re invested in Salt Lake City. We’re invested in the region. And we’re invested in the state of Utah to get everybody going,” said Mike Morgan, SEG board member and president of the downtown project.
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