R357-13-4. Application for Approval of a Qualified Hotel and For Authorization of Incentive

  (1) The Office, with the Board's advice and after considering the recommendations of the independent review committee formed in Utah Code Section 63N-2-504, may enter into an agreement with a qualified hotel owner or host local government:

  (a) for the development of a qualified hotel; and

  (b) to authorize and set conditions for a convention incentive, to be paid from the convention incentive fund as set forth in Utah Code Section 63B-2-503.5 and pursuant to Utah Code Section 63N-2-505 and this Rule.

  (2) The initial application to approve the development of a qualified hotel and to authorize and set conditions for an incentive shall include at least the following information:

  (a) Identify the hotel property and the hotel owner;

  (b) A proposal for the convention center hotel, including construction time lines and proposed spending over the life of the project;

  (c) Include the required endorsement letter from the County in which the hotel is located;

  (i) The endorsement letter shall include by reference to or attachment of all of the requirements placed on the hotel by the County in relation to the endorsement letter; and

  (ii) The endorsement letter shall include by reference to or by attachment the County's expectations regarding compliance with its requirement by the developer or owner, including how compliance with the requirements will be measured and tracked.

  (d) Details regarding the capital investment expected, which must be at least $200,000,000.00.

  (e) The period of time for which the qualified hotel owner or host local government expects to request and claim an incentive related to the project, subject to the limitations set forth in the New Convention Facility Development Incentives Act.

  (f) The maximum amount of incentives that the applicant is requesting, subject to the limitations set forth in Utah Code Section 63N-2-503.

  (3) The Office, with advice of the Board and after considering recommendations of the Independent Review Committee established by Utah Code Section 63G-2-504, shall review the application and materials and determine whether to enter into an agreement with the Qualified Hotel, and what conditions to place on the award of an incentive.

  (a) The Office shall review and application and respond within 60 days.

  (b) If more information is requested by the Office or the Board, the applicant will have 15 days to provide the additional information, and the Office's decision will be extended by 30 days.

  (c) If the Office declines to approve the project, it shall publish a notice of agency action and state specifically the reasons for declining, and what, if anything the applicant can do to cure the defects.

  (d) If the Office approves the project the approval shall include shall include the terms, conditions, contingencies and requirements related to the convention incentive.

  (5) If either the qualified hotel owner or the host local government are aggrieved by the Notice of Agency Action in section (3)(c), the entity may seek review by the Executive Director of the Governor's Office of Economic Development, using the procedures set forth in the Utah Administrative Procedures Act, Utah Code Section 63G-4-301.