(1) A project area plan may provide for the development and construction of a qualified stadium on land that, until conveyed to the fairpark district as provided in Subsection (3)(b), is owned by a qualified owner.
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Terms Used In Utah Code 11-70-502

  • Board: means the fairpark district's governing body, created in Section 11-70-301. See Utah Code 11-70-101
  • Development: means :
         (5)(a) the demolition, construction, reconstruction, modification, expansion, or improvement of a building, utility, infrastructure, landscape, parking lot, park, trail, recreational amenity, or other facility, including public infrastructure and improvements; and
         (5)(b) the planning of, arranging for, or participation in any of the activities listed in Subsection (5)(a). See Utah Code 11-70-101
  • Fair park authority: means the State Fair Park Authority created in Section 11-68-201. See Utah Code 11-70-101
  • Fairpark district: means the Utah Fairpark Area Investment and Restoration District, created in Section 11-70-201. See Utah Code 11-70-101
  • Fairpark district boundary: means a line or set of lines that:
         (12)(a) defines the geographic boundary of the fairpark district, consisting of the interior space within each polygon described by the line or set of lines; and
         (12)(b) is delineated in the electronic shapefile that is the electronic component of H. See Utah Code 11-70-101
  • Franchise agreement: means a legally binding and valid agreement under which:
         (15)(a) a franchise is confirmed for a major league sports team that before January 1, 2024 had not been located in the state; and
         (15)(b) the major league sports team agrees to play home games in a stadium to be constructed within the fairpark district boundary. See Utah Code 11-70-101
  • Franchise agreement date: means the date that a franchise agreement is fully executed and in effect. See Utah Code 11-70-101
  • Land: includes :
         (18)(a) land;
         (18)(b) a tenement;
         (18)(c) a hereditament;
         (18)(d) a water right;
         (18)(e) a possessory right; and
         (18)(f) a claim. See Utah Code 68-3-12.5
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Major league sports team: means a team:
         (18)(a) consisting of professional athletes;
         (18)(b) that is part of a professional sports league; and
         (18)(c) that is engaged in the business of presenting live sporting events before primarily a paying audience. See Utah Code 11-70-101
  • Month: means a calendar month, unless otherwise expressed. See Utah Code 68-3-12.5
  • Person: means :
         (24)(a) an individual;
         (24)(b) an association;
         (24)(c) an institution;
         (24)(d) a corporation;
         (24)(e) a company;
         (24)(f) a trust;
         (24)(g) a limited liability company;
         (24)(h) a partnership;
         (24)(i) a political subdivision;
         (24)(j) a government office, department, division, bureau, or other body of government; and
         (24)(k) any other organization or entity. See Utah Code 68-3-12.5
  • Process: means a writ or summons issued in the course of a judicial proceeding. See Utah Code 68-3-12.5
  • Project area: means land described in a project area plan or draft project area plan, where the development project set forth in the project area plan or draft project area plan takes place or is proposed to take place. See Utah Code 11-70-101
  • Project area plan: means a written plan that, after its effective date, guides and controls the development within a project area. See Utah Code 11-70-101
  • Property: includes both real and personal property. See Utah Code 68-3-12.5
  • Qualified owner: means an owner of at least 65 contiguous acres of privately owned land within the fairpark district boundary, or the owner's affiliate. See Utah Code 11-70-101
  • Qualified stadium: includes parking structures or facilities, lighting facilities, plazas, and open space associated with a stadium described in Subsection (31)(a). See Utah Code 11-70-101
  • Stadium contribution: means the principal amount of bonds that the district issues to pay for the development and construction of a qualified stadium, plus any other amount the district pays toward the development and construction of a qualified stadium. See Utah Code 11-70-101
(2) A project area plan under Subsection (1) shall include a requirement that the qualified owner and fairpark district enter an agreement relating to:

     (2)(a) the development, construction, operation, and ownership of a qualified stadium; and
     (2)(b) the development of other land owned by the qualified owner within the fairpark district boundary.
(3)

     (3)(a) An agreement under Subsection (2) shall:

          (3)(a)(i) limit the stadium contribution to the lesser of:

               (3)(a)(i)(A) half the actual cost of developing and constructing the qualified stadium; or
               (3)(a)(i)(B) $900,000,000;
          (3)(a)(ii) require the qualified owner to convey to the fairpark district, as soon as practicable after the franchise agreement date, title to the property on which the qualified stadium will be constructed;
          (3)(a)(iii) require the qualified owner, if the major league sports team leaves the qualified stadium before 30 years after the franchise agreement date, to;

               (3)(a)(iii)(A) pay the remaining outstanding balance of bonds issued by the fairpark district for the development and construction of the qualified stadium; and
               (3)(a)(iii)(B) pay to the fairpark district the difference between the stadium contribution and the amount paid under Subsection (3)(a)(iii)(A);
          (3)(a)(iv) provide for the fairpark district to possess full ownership rights to the qualified stadium;
          (3)(a)(v) provide for the qualified owner to sell and control sponsorship rights relating to the qualified stadium;
          (3)(a)(vi) provide for the fairpark district to lease the qualified stadium to the major league sports team for lease payments of $150,000 per month for 360 months;
          (3)(a)(vii) require the qualified owner to operate and maintain the qualified stadium and to pay for all operation and maintenance costs;
          (3)(a)(viii) require the qualified owner to cooperate and coordinate with the fairpark district to allow events other than events of the major league sports team to occur at the qualified stadium if those other events do not interfere with the use of the qualified stadium for events of the major league sports team;
          (3)(a)(ix) include negotiated terms that are fair and reasonable;
          (3)(a)(x) establish the timing and process for the development of the qualified owner’s property within the fairpark district boundary, based on the qualified owner’s development plan;
          (3)(a)(xi) establish the timing and process for assisting the fair park authority to complete the fair park authority’s master plan; and
          (3)(a)(xii) require the major league sports team to be given a name that includes “Utah.”
     (3)(b) Before approving an agreement under Subsection (3)(a), the board shall:

          (3)(b)(i) hold at least one public meeting to consider and discuss the draft agreement; and
          (3)(b)(ii) provide notice of the public meeting as provided in Subsection 11-70-503(2).
     (3)(c) A legal action or other challenge to an agreement under Subsection (3)(a) by a person other than a party to the agreement is barred unless brought within 30 days after the execution of the agreement.
(4) The fairpark district shall pay to the Division of Finance, for deposit into the General Fund, all lease payments the fairpark district receives under a lease agreement for the qualified stadium.

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