Gov. Mike Leavitt was expected to announce Monday afternoon terms of a deal transferring 11 acres at Fort Douglas to the state for the Olympic Village at the University of Utah.
The deal includes $500,000 from the state to help for the U.S. Army Reserves' relocation costs, according to Lt. Col. Jim Allen, chief of public affairs for the Army Reserves in Washington, D.C.The transfer involves 11 of 68 acres held by the Utah Army Reserve at Fort Douglas. Congress has appropriated $12.7 million to move two reserve units to Camp Williams, near the Point of the Mountain. New facilities will be built and existing facilities upgraded to accommodate them.
The U. plans to build new student housing on its share of Fort Douglas property. Some 3,500-4,000 athletes and officials will live in the housing development during the 2002 Winter Games.
The new housing will be financed through two separate bond issues - $110 million in revenue bonds issued through the U. and a state-issued $23 million lease-revenue bond.
The transfer has been delayed a number of times, as reserve units balked, claiming the congressional appropriation was not sufficient to cover the move.
President Clinton vetoed funding to move the reserve units, apparently not realizing the Olympic connection. The veto was later overturned by Congress.