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Show supplement to the National Enterprise u mi Down Failures among Utah retail outlets dropped in February, in both number and dollar losses, eompared with the first month of 1976, according to Dun and Brad-strereport. Utah showed two business failures in February involving $158,000 in losses, compared with January failures involving three firms resulting in $1.76 million in unpaid liabilities. et Housing Finance Agency Restaurant, Tavern Owners Air to File Test Suit Requests fdr Ordinance Change group of actors, the Utah Finance Agency Housing expects to present its debut performance within two weeks. The Agency was created by the 1974 legislature to sell e bonds through private Like a well-rehears- ed tax-fre- lenders. The lenders would loan the low- interest money to consumers who could not otherwise afford to buy a home. The Agency would then buy the mortgage from the private lender, while the lender con- tinued to service the loan. Before the Agency could perform any of its intended functions, however, it has been forced to prove its consti- tutionality. So for almost two years, founders have been for a Utah Supreme Court test. Attorney Jerald Miller of Vancott, Bagley, will operate if the Agency wins the case. Developers Eligible The prime target of Agency activity, once operating, would be potential single But family home buyers. multiple-mortgag- e of private developers dwelling units would also be eligible for the loans. Under contract, such developers would promise that renters would be within a specified income range, and would not pay more than an low-intere- st rent, Similar finance agencies are active in about 20 other states, according to Stanton. They were not created to serve extremely low income people, since they are already eligible for other govemment-spon-prcparin- g sored programs. The Utah agency was created mainly to aid moderate-incom- e families Cornwall and McCarthy in buying homes. He said the expects to file that test suit agency hopes to provide the Utah Attorney gages at about a seven percent Generals office within two weeks. agreed-upo- n mort-again- Action Taken As the script written by the Agency founders instructed them to do, they formally requested their $500,000 appropriation on May 7. On May 11 the Director of Finance, Herbert Smart, turned That down that request. forthcomaction initiated the ing filing of the court case that will either establish or demolish the Agencys operating powers. Meanwhile the Agency board, consisting of lenders, a realtor, home builder, law professor and public officials, has selected underwriters for Agency operations and has home drafted a single-famil- y loan program. The lead underwriter is E.F. Hutton and Co., Inc. On the management team are Dean Witter and Co., Inc., First Boston Corp. and Burrows Smith and Co. According to Dave Stanton, of the Utah Community Affairs Departments Housing Division, the underwriters met last week on Wall Street to make improvements and draft the home ownership program. The program, which specifies eligible sellers, servicers and accounting systems, will be on trial during the court case and st t. fourth class should-b- e added to the citys privatedub classifications; no change in con- the ratio of sumption should be required to qualify as a restaurant; and room for variances should be written into present zoning restrictions on the number of taverns allowed per block. Those were recommenda-- . tions made to the city commission during public hearings on food-to-befc,- i? proposed changes in tavern and cabaret ordinances last About 30 business week. and their legal reprepeople sentatives were present Tuesday and Wednesday to voice their opinions. The city zoning and licensing departments had recommended that the number of taverns in the city be limited by zone and block, rather than by a finite limit. Bill peters, representative of the Tavern Owners Association, opposed that change, claiming it would lead to excessive competition which leads to social evils, Marginal operators will do other things to make money. Peters also opposed a change in the It is ratio for restaurants. not realistic, he said. Peters told commissioners lifting the limit on the number of taverns would lead to a concentration of liquor outlets across from the Salt Palace, I think you are trying to accomodate special interest in downtown Salt Lake. But the Salt Palace is a public place. It is unfair to certain elements in our community who use the Salt Palace for religious and other public events to be confronted with a concentration of liquor outlets across the street, he told commisfood-to-be- er Vehicle traffic in downtown Salt Lake City has increased 4.4 percent in six years according to a recent traffic study conducted by the Utah Department of Transporta- explained. The most dramatic increase in traffic appeared at the corner of 4th South and West respond-commissione- Kano. A viaduct can greatly increase the traffic on a street, con-Continu- urban transportation planning engineer with the Department. After completion of the Main Street beautification project, traffic changed from Main Street to West Temple and State Streets, ed Firms Voice Interest in Garbage Disposal Project 345,000 vehicles have traveled in and out of thedowntown area each day. In 1970 that That figure was 330,000. Dr. David Eckhoff, conmeans during the last six years traffic downtown has sultant to Salt Lake Countys increased by about 14,500 commissioners regarding the areas waste disposal system, vehicles a day. named in an interview three local and four outside companTraffic Patterns ies. who have expressed defiWe did notice a change in nite interest in operating the traffic patterns downtown, countys system. The three local firms are said Tosh Kano, assistant Kemp Conversion, Inc.; Energy Conversion of Utah; and a group represented by former Salt Lake City Streets Commissioner Steven Harm- sen. The four he out-of-sta- te rs Variances Needed he added. The greatest decrease in Traffic there traffic (39 percent) appeared Temple. 51 increased percent. There at Main Street and North was no viaduct across the Temple, where the city tion. on page 6b explained During the same period of tracks in 1970, time, population in the city has increased by 10.77 percent In 1976, the Department estimates, an average of taurants that are private clubs. Such restaurants would not be subject to the same sioners. zoning restrictions as taverns and class B private clubs. Fourth Classification I see nothing wrong with Commis- Rand Cook, attorney for that proposal, Fleur de Lys restaurant, asked sioner Glen Greener to consider ed to Cooks statement. Transportation Study Notes Changes in Traffic Patterns . adding a fourth classification for private clubs. The Fleur de Lys is a restaurant. But in order to serve fine French wines with dinner, it would have to be licensed as a He said as a private club. class B private club, Fleur de Lys w'ould not be able to operate at its present location on State Street because there are already two taverns on that linear block, and the present ordinance restricts the number of taverns and private clubs per linear block to two. Fleur de Lys is not a tavern, It is a Cook insisted. restaurant. He proposed the city create a new classification for res- firms are Garrett Research and Development of Occidental Petroleum; Union Carbide; EnvirocalSunset Scavenger Co. of San Francisco; and Waste Management, Inc. of Chicago (Reliable Waste of Salt City). Kemp, Energy Conversion. Garrett and Union Carbide have expressed interest in operating a pyrolysis plant, Eckhoff said. Pyrolysis is a method of converting garbage into oil or gas. The other three companies have Continued on page 5b Cook and other speakers recommended the city write a provision for commissioners to make exceptions to rules of ordinance. What you have now is a hard and fast rule. But is that the intent of the ordinance? As high rises and malls appear, you may want the ability to make provisions for variances in the rule, Cook told commissioners. Mayor Ted Wilson responded to Cooks suggestion saying he thought the city did want a hard and fast rule. I say, lets give it a try, Wilson said. Howard Clark, a of Arrow Press Square, supported Cooks suggestion to co-own- write variances er into the ordinances. Let me share a he told concept with you, commissioners. I have been soliciting specialty restaurants from across the country to come to Arrow Press Square. I have found specialty restaurants want to cluster into a restaur-ant-entertainme- nt center. Different kinds of restaurants feed on each other. It is a viable marketing concept. Part of the eating process includes alcoholic beverages. Restaurant owners need some Continued on page 5b |