Three Development Firms Bid for Salt Lake HQ Hotel
According to news reports, three development firms submitted proposals by Friday's 2 p.m. deadline to build a convention hotel for Salt Lake City's Salt Palace. The developer will be able to take advantage of about $75 million in tax credits.
The three firms are RLB Swerdling of Austin, Texas; JLJL of Midvale, Utah; and DDRM Cos. of Sandy, Utah. The proposals for the 800- to 1,000-room hotel will be reviewed Jan. 14 by a county bid committee.
In August, Salt Lake County pulled out of negotiations with Omni Hotels & Resorts for the property. County mayor Ben McAdams said in a statement that, while the development of a convention hotel is an important part of growing the county's convention business, the proposed financial details Omni was asking for would put too much of a burden on Utah taxpayers. In 2014, the Utah Legislature approved a bill to help finance the 1,000-room convention center hotel to serve the Salt Palace by providing tax incentives to the developer, and Omni was selected to begin negotiations. By mid-July of 2015, however, Omni wanted that incentive and then some, in the form of public grants and cash advances, according to McAdams.