Notice to municipality when a private institution of higher education is constructing student housing

(1) Each private postsecondary educational institution, as defined in Section 53H-1-101, that intends to construct student housing on property owned by the institution shall provide written notice of the intended construction, as provided in Subsection (2), before any funds are committed to the construction, if any of the proposed student housing buildings is within 300 feet of privately owned residential property. (2) Each notice under Subsection (1) shall be provided to the legislative body and, if applicable, the mayor of: (a) the county in whose unincorporated area the privately owned residential property is located; or (b) the municipality in whose boundaries the privately owned residential property is located. (3) At the request of a county or municipality that is entitled to notice under this section, the institution and the legislative body of the affected county or municipality shall jointly hold a public hearing to provide information to the public and receive input from the public about the proposed construction.