The Salt Lake City Council has approved the final participation agreement between the city and Smith Entertainment Group (SEG) that will allow the Utah Jazz and the Utah Hockey Club to stay in downtown Salt Lake City. The agreement gives the go-ahead to a revamped entertainment and sports district and sets in motion the imposition of a 0.5 percent sales tax hike for city businesses. The tax increase, which doesn’t apply to groceries and major purchases like vehicles, takes effect on Jan. 1.
Under the agreement, SEG will receive up to $900 million in bonds that will be repaid by the sales tax increase over the next 30 years. The bonding will help pay for a downtown rebuild that will include a Delta Center revamp to Please log in to see the rest of this story.
