From Deseret News archives:
LDS Church eyeing Triad Center
S.L. Council to mull plan tonight that would facilitate buy
Already The Church of Jesus Christ of Latter-day Saints through various business interests owns a good portion of Block 84 where the Triad Center sits. Now the church's Corporation of the Presiding Bishop is asking the RDA Board, which is the City Council, to allow it to take over the RDA's nonfinancial property interest in the Devereaux House, located on the block's southern portion.
Alyn Lunceford, real estate and debt manager for the Utah State Division of Facilities Construction and Management, said the church's request comes as it is exploring whether it can buy the Triad Center block.
"They are exploring the option of purchasing the Triad block," he said. "This is not a secret deal or anything, but like everything the bishopric does, they like to keep it quiet."
The RDA's approval is necessary if the church is to snatch up the rest of Block 84 owned by the state of Utah and M&S Triad Center LP.
The state has a fairly low interest in its Block 84 real estate. The land doesn't make the state any money, but it doesn't cost any more either and there are now state offices there, Lunceford said.
"It doesn't hold a great deal of significance," he said.
On the other hand, M&S, which owns most of the Triad Center and surrounding block, is looking to sell, Lunceford said.
"It's a losing proposition for them," he said. "The building has too much vacancy."
Owning the entire block would pad the church's already hefty downtown property portfolio, which includes most of the six blocks between North and South Temple from 100 East to 400 West.
RDA Board Chairman Eric Jergensen said that as the church researched its plan to purchase Triad, it discovered a 22-year-old, nonfinancial lease the RDA had on the Devereaux House portion of the block near South Temple.
The RDA had created the Devereaux House lease in 1982 so the former property owners could use a government grant to do some historic restoration on the old building. To qualify for the grant, the RDA had to have some sort of property interest in the house, RDA executive director David Oka said.
Comments
- Text from LDS church on S.L. policy 7:09 p.m.
- Gays get Mormon support in SLC 7:09 p.m.
- BYU prof chosen for state board 6:55 p.m.
- Developer looking to buy RSL share 6:36 p.m.
- FLDS man sentenced to 10 years 6:20 p.m.
- Charter helps kids discover talents 6:17 p.m.
- Herbert talks land issues in D.C. 6:15 p.m.
- Good Samaritans help make arrest 6:05 p.m.
- Get a little culture: Probiotics 5:45 p.m.
- What exactly are probiotics? 5:45 p.m.
- Utah group finds homes for orphans
- Pratt pleads not guilty to sex charges
- Y. tight ends talented tandem
- Jazz blow big lead, hang on
- Utes get extra motivation
- Senators want food tax restored
- Hair-pulling raises more questions
- BYU soccer incident still popular
- Lobo land like home for BYU lineman
- U. hopes to keep clicking
- House passes health care bill
259 - TCU showdown has big implications
187 - Lobo suspended
184 - Cougars crush hapless Cowboys
155 - Senators want food tax restored
146 - Utah Jazz fall apart against Kings
131 - TCU 4th in AP poll; U. 16th, Y. 22nd
119 - No 'backlash' for pioneers, gays analogy
104 - RSL rallies to advance
103 - S.L. vote pending on gay protections
97
Applebee's Neighborhood Grill & Bar restaurants nationwide will honor...
Meghan McCain, the daughter of former presidential candidate John...
Richard Wilson and Austin Holt are both nationally ranked TE's out of HS. I...
I know one thing for sure and that is a UTE in not a chicken (SWOOP). UTAH...
Thanks fellas - You might have literally saved that officer. Being retired LE...
Having TCU go win a BCS game will mean far more for the conference as a...
The ordinances would make it illegal to fire or evict someone BECAUSE OF...
Thank you so very much for having the initiative to correct the illiteracy I...
The action was also based on POST discipline and a history that is...
There have been laws on the books since the mid-1960s establishing rules for...
To the 10:48 commentator, Forced conversions have been much more common...
Weak and Whinny!!!




You can be the first to comment on this story.