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S.J.R. 11

             1     

UTAH ATHLETIC FOUNDATION RESOLUTION

             2     
2010 GENERAL SESSION

             3     
STATE OF UTAH

             4     
Chief Sponsor: Stephen H. Urquhart

             5     
House Sponsor: Don L. Ipson

             6     
             7      LONG TITLE
             8      General Description:
             9          This joint resolution extends the approval of the negotiation of sales of portions of the
             10      Winter Sports Park under certain conditions.
             11      Highlighted Provisions:
             12          This resolution:
             13          .    extends the approval of the Utah Athletic Foundation's negotiation of sales of
             14      portions of the Winter Sports Park under certain conditions.
             15      Special Clauses:
             16          None
             17     
             18      Be it resolved by the Legislature of the state of Utah:
             19          WHEREAS, as used in this resolution:
             20          (1) "Foundation" means the Utah Athletic Foundation;
             21          (2) "Purchase Agreement" means the Winters Sports Facility Purchase Agreement
             22      Between the Utah Sports Authority, as Seller and the Salt Lake City Bid Committee for the
             23      Olympic Winter Games, as Purchaser executed August 1, 1994, as amended;
             24          (3) "Sale," "sales," "sell," "sells," "selling," or "sold" means to transfer:
             25          (a) ownership, title to, or possession of, real property; and
             26          (b) with or without consideration; and
             27          (4) "Winter Sports Park" means the Foundation's winter sports park and access road


             28      from State Highway 224 located in Summit County, Utah, consisting of certain real property
             29      and all improvements thereon, including three separate venues, a nordic ski jump complex, a
             30      freestyle aerial jump and pool complex, and a bobsled and luge track together with associated
             31      facilities and all rights-of-way and other rights of ingress and egress that the Foundation owns;
             32          WHEREAS, the Salt Lake Organizing Committee of the Olympic Winter Games of
             33      2002 successfully hosted the Olympic Winter Games of 2002;
             34          WHEREAS, the state contributed in significant ways to the success of the Olympic
             35      Winter Games of 2002, including building winter sports facilities used in hosting the Olympic
             36      Winter Games of 2002;
             37          WHEREAS, because of the success of the Olympic Winter Games of 2002, the
             38      Foundation received over $70,000,000 from the revenues of the Olympic Winter Games of
             39      2002;
             40          WHEREAS, S.J.R. 17, 1994 General Session, and subsequent joint resolutions of the
             41      Legislature govern the sale of the Winter Sports Park and payment of a Legacy Fund to the
             42      Foundation by the Salt Lake Organizing Committee for the operation and maintenance of
             43      certain Olympic venues operated by the Foundation;
             44          WHEREAS, the citizens of Utah have an interest in the long-term financial and
             45      operational success of the Foundation because of the importance of winter sports to the state
             46      and because of the reversionary interest the state has in the Winter Sports Park under specified
             47      circumstances;
             48          WHEREAS, the Foundation reports that annual operating costs to maintain the legacy
             49      facilities and run winter sports programs exceeds annual revenues to a level where the Legacy
             50      Fund's principal may not last beyond the year 2025;
             51          WHEREAS, the Foundation believes that it has an obligation to the citizens of Utah to
             52      find creative and responsible means to operate, maintain, and run winter sports programs and
             53      related public activities long term at the Winter Sports Park;
             54          WHEREAS, the Foundation desires to maintain and increase the amount of sport and
             55      public activities at the Winter Sports Park, and the sales or leases of portions of the Winter
             56      Sports Park property would allow the Foundation to add complimentary development uses and
             57      reduce its annual financial assistance from the Legacy Fund;
             58          WHEREAS, the Foundation may have opportunities to sell portions of the Winter


             59      Sports Park for real estate development;
             60          WHEREAS, the Foundation believes that sales negotiated in accordance with this joint
             61      resolution will help improve the long-term viability of the Winter Sports Park;
             62          WHEREAS, legislative approval was previously granted to the Foundation to negotiate
             63      sales of any portion of the Winter Sports Park for a limited time; and
             64          WHEREAS, legislative approval is required for the time period to be extended for the
             65      Foundation to negotiate the sale of any portion of the Winter Sports Park:
             66          NOW, THEREFORE, BE IT RESOLVED that the Legislature of the state of Utah
             67      approves the Foundation negotiating sales of portions of the property under the conditions set
             68      forth in S.J.R. 1, 2007 General Session, except that the time limitation is modified so that the
             69      Foundation may not enter any negotiation, contract, or agreement that would result in the
             70      Foundation selling a portion of the Winter Sports Park on or after April 1, 2020. The
             71      Legislature's approval terminates for any negotiation or sale occurring on or after the day on
             72      which the Foundation fails to comply with this resolution in negotiating any sale.
             73          BE IT FURTHER RESOLVED that the Legislature of the state of Utah approves the
             74      Foundation negotiating the sales of portions of the Winter Sports Park subject to the Governor
             75      taking the actions required of the Governor in S.J.R. 1, 2007 General Session. The
             76      Legislature's approval terminates if the Governor chooses not to take these actions in providing
             77      written approval and any other action required for real estate development on the portion of the
             78      Winter Sports Park that is subject to negotiation for sale.
             79          BE IT FURTHER RESOLVED that S.J.R. 17, 1994 General Session, and subsequent
             80      resolutions relating to the Winter Sports Park and the Foundation remain in full force and
             81      effect except to the extent that they are expressly superseded by this joint resolution.
             82          BE IT FURTHER RESOLVED that a copy of this resolution be sent to the Foundation.




Legislative Review Note
    as of 2-3-10 12:06 PM


Office of Legislative Research and General Counsel


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