Salt Lake City releases bond to build Leonardo
The Salt Lake Tribune
http://www.sltrib.com/news/ci_12556891
Updated: 06/09/2009 08:41:36 PM MDT
The Salt Lake City Council on Tuesday approved the sale of the long-awaited $10.2 million property-tax bond to build The Leonardo at Library Square.
Voters approved the funds in 2003. But the science, culture and education center stalled for years, mostly due to problems raising private funds. Salt Lake City will renovate the former Main Library building to house The Leonardo, which is expected to open in early 2011.
"I'm smiling like a Cheshire Cat over here because this is one of our last steps in building The Leonardo," Councilman Luke Garrott said after the 6-0 vote. "This is a great day for Library Square. It's a great day for our city."
The property-tax bond will add $5.97 to the annual tax bill on a $250,000 home. Commercial-property owners will fork over an exra $43.40 on a $1 million parcel.
-- Rosemary Winters