Land deal finalized to clean up, develop old Salt Lake landfill, likely for inland port

SALT LAKE CITY — A real estate arm of the LDS Church has donated to a state agency the site of the old Salt Lake City landfill — a 770-acre property in the city’s northwest quadrant that has long been eyed as part of an inland port development. The land, located north of I-80 between 5600 West and 7200 West, was owned by Suburban Land Reserve, a real estate arm of The Church of Jesus Christ of Latter-day Saints, up until late last month, when discussions were finalized to transfer the land to the School and Institutional Trust Lands Administration. Rodger Mitchell, assistant director of the School and Institutional Trust… Read More

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Utah Senate President Wayne Niederhauser stepping down from Legislature at year’s end

SALT LAKE CITY — Utah Senate President Wayne Niederhauser not only won’t run again for his leadership position but he won’t be in the Legislature at all. The Sandy Republican previously announced he wouldn’t run for another term as president but as recently as last week said he intended to seek re-election to the Senate. But Niederhauser said Wednesday he started to question that decision as the 2018 Legislature adjourned late last Thursday. "For the last few days, I have carefully evaluated the pros and cons of seeking another term in office. The pros outnumbered the cons almost 3 to 1," He said. "While on paper the decision seemed obvious,… Read More

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Population growth creating apartment affordability crisis in Utah

SALT LAKE CITY — Utah’s growing economy is great for business, but it’s creating an affordability crisis for renters. The KSL Investigators found as more people move to the region, the demand for apartments has outpaced the supply, pushing up rents faster than wages. West Valley City resident Janice Thompson has felt the pain. "It is definitely difficult to find something that I can afford, even when I was looking for this place it was hard," she said. For the last three years, Thompson and her cat, Lynx, have called a studio apartment in West Valley home. But at the end of February, they’re moving out. "When I park at… Read More

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City homelessness

Overtime costs add up for Salt Lake City homelessness push

SALT LAKE CITY (AP) — Law enforcement and corrections agencies have paid about $320,000 a month in overtime for a push aimed at tackling problems related to homelessness in Salt Lake City. The Salt Lake Tribune reports that police agencies spent a total of over $600,000 on overtime for Operation Rio Grande from Aug. 14 through Dec. 31 while the Utah Department of Corrections’ costs for participating probation and parole agents amounted to about $800,000. The operation began with an emphasis at improving public safety and reducing crime. The second phase aims to help people suffering from mental illness and addiction. The third phase focuses on connecting homeless people with… Read More

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Extra Space Storage (EXR) Q4 Earnings: What’s in Store?

Shutterstock photo Extra Space Storage Inc. EXR is slated to report fourth-quarter and 2017 results on Feb 20, after the market closes . Both its revenues and funds from operations (FFO) are expected to experience year-over-year growth. In the last reported quarter, this Salt Lake City, UT-based self-storage real estate investment trust (REIT) delivered a positive surprise of 2.73% in terms of FFO per share. Results reflected growth in property-rental revenues and improvement in same-store NOI. Particularly, higher occupancy and rental rates supported growth. The company has a decent surprise history. In fact, the company exceeded the Zacks Consensus Estimate in each of the trailing four quarters, with an average… Read More

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