Other problem is that in an earthquake on the SLC segment of the Wasatch Fault is that SLC is going to drop in elevation; meaning the lake is going pour into the city (Not some grand tsunami but you're going to have places that were once dry land under several feet of water.)
Yeah, a big problem is that most of the larger cities in Utah are built mostly on old lakebed. Not very stable.
There was another thread where I mentioned this and there were a couple of people from SLC (moved there recently, I think) who were doing the "What, EARTHQUAKES? Here?" routine.
The airport is some 30 feet higher than the lake and is the closest major structure to the lake in the direction of downtown. The closest part of the "city" is some 50 feet above the lake. If we have 50 feet of movement, a little water is the least of the problems. In the Bountiful area, there are a few places that are as few as 16 feel above mean lake level.