LDS Church to buy SLCC Main Street campus

Following lower than expected enrollments, Salt Lake Community College's Main Street Learning Center is about to be sold to The Church of Jesus Christ of Latter-day Saints for $5.2 million.

The proposed sale of SLCC's Metro Learning Center at 115 S. Main, to Property Reserve Inc., the real estate arm of the church, was OK'd Tuesday by the Utah Board of Regents' executive committee. The committee has authority to make binding decisions; the regents will receive a report next month.

"This is a great, great start in a positive move for Salt Lake Community College," SLCC President Cynthia Bioteau said.

The college will receive free rent through the end of the semester, Utah System of Higher Education Commissioner Rich Kendell said. That, plus a deal that would include no fees, would bring the value of the sale to about $5.85 million for the college, he said.

The college purchased the center for just under $4.5 million in 2004, and paid $1.16 million for improvements, Kendell's memo states.

"I believe this is a good transaction for Salt Lake Community College," Kendell said. "It's a break-even deal."

The sale includes the property and 75,000-square-foot building, SLCC spokesman Joy Tlou said.

Annual enrollment at the college had been estimated at about 3,800 students; last year, the facility had a total 1,500 students, Bioteau said.

Bioteau says SLCC will continue its presence downtown, and is seeking a facility to lease there, sized to enrollment, for spring classes.

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