Standard Operating Procedure

Purpose:

Ensure that properties within the Transit-Oriented-Development (TOD) Program are maintained in an orderly manner and that proper channels are maintained to receive development cash flows. Property management is to also allow the Utah Transit Authority (UTA) to gather specific information regarding the performance of individual projects within the TOD Program, to evaluate on a comparative basis, within the TOD System Analysis.

Scale and Scope:

Property management is to be assessed on a site-specific basis. Accounting standards for receiving development income, defined in the operating agreement, are to be used as the standard by which UTA receives its cash distributions.

Roles and Responsibilities:

• Development partners are to oversee property management, along with a 3rd-party property management company.
• UTA TOD Staff is to work alongside its development partners, to attend meetings with property management companies on an as-needed basis.