Requested Agenda Date:
2/4/2025
Requested Agenda Title:
Budget Adjustment: Facilities Requests $1,598,796 for On-going Operating Needs for the Midvale Campus. This Is the Net Cost After the Revenues from the Data Center Lease Back and Utilities of $363,484
Requested Agenda Item Description: In 2024 Salt Lake County purchased the Overstock Coliseum building which includes an annex building, greenhouse, parking structure and surrounding site amenities. This request is to cover the ongoing operating needs for the Coliseum. During due diligence we worked with Overstock to find out their operating costs for the building ($2.8M) we then did a thorough review and made any known changes, to arrive at this $2M operating budget. In addition to the operating expenditure, we will have revenue from the Data Center lease back and utilities of about $.3M. The Coliseum budget has been set up in Internal Service Fund 650, with the limited revenue to offset these expenses so we will also need these funds transferred into 650 to cover these expenses.
Requested Action: Discussion - Vote Needed
Presenter(s) (with titles): Hoa Nguyen, Council Budget and Policy Analyst
Time Needed: Less than 5 MINS
Is this Item Time-Sensitive and/or Requesting a Time-Certain? No
Requesting Staff Member: Megan Hillyard, Administrative Services Department Director
Are Supporting Documents Needed for this Agenda Item Request? Yes