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Posted: 6:29 PM- Hogle Zoo is about as risky to taxpayers as a stroll through its east-side park, financial analysts say.
That's the conclusion of Salt Lake County's Debt Review Committee, which determined Thursday that the zoo is a safe financial investment if voters decide to feed $65 million into it for remodeling and expansion.
Zoo officials now need the County Council's nod to put its tax request - which will pay for the largest makeover in Hogle history - on the November ballot.
If approved, property taxes would rise about $10 a year on a $250,000 home over the next two decades.
"It is clear to me that it is a viable plan," said Jon Bronson, a committee member and manager of public finance at Zions Bank. "The zoo's past performance is a good indication of future performance."
Hogle Zoo plans to transform its 41-acre park at the mouth of Emigration Canyon, trading concrete enclosures for more expansive natural habitats for polar bears, gorillas and even a pride of lions from the African savanna.
Officials also intend to add a carousel, more parking and an upgraded animal hospital.
The zoo really needs about $85 million for the work, but Executive Director Craig Dinsmore said he will tap tax dollars for $65 million and rely on private donations for the rest.
Once the overhaul is complete, the zoo expects to accommodate up to 1.4 million visitors a year.
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