Office Location
451 South State Street
Room 418
Salt Lake City, UT 84111
Business Hours
Mon - Fri 8 am to 5 pm
Phone
801.535.7240
801.535.7245 FAX
RDA programs and applications
The Redevelopment Agency (RDA) has developed a variety of programs to assist property owners within Redevelopment Project Areas. A brief description of each program and its corresponding application are provided below. Click on the pdf links below each description to see the application instructions and requirements. The first PDF allows you to type in your information and save the application to your computer. The second PDF only allows you to print the application and fill it in by hand or typewriter. For more information on the following programs, please contact the Agency at (801) 535-7240.
New Construction Loans
The Redevelopment Agency will act as a lender-of-last-resort, providing low interest loans for a portion or all of the development costs not covered by private financing. Developers can use the funds to finance the construction of new residential, mixed-use or commercial buildings. All loans are subject to qualifications of the borrower(s) and availability of funds.
New Construction Loan Program (PDF)
Building Renovation Loans
Building owners can receive low-interest loans to restore the façade of the building to its original appearance, to rehabilitate or convert upper floors of a commercial building to a residential use, to meet ADA Accessibility Requirements, to convert warehouse or commercial buildings to housing units, to upgrade structural components for earthquake stresses, and to bring major systems of the building into compliance with current codes. The Redevelopment Agency will lend up to 50% of associated costs. All loans are subject to qualifications of the borrower(s) and availability of funds.
Building Renovation Loan Program (PDF)
High Performance Building Renovation Loans
Property owners or developers can receive financing at 0% interest for renovating buildings that achieve a LEED certification level or an ENERGY STAR rating, depending on the building type. The Redevelopment Agency will lend up to 50% of associated hard costs of the improvements. Additional uses include restoring the building facade, upgrading major building systems, meeting ADA Accessibility Requirements, and converting the top floors of a commercial building to housing. All loans are subject to qualifications of the borrower(s) and availability of funds.
High Performance Building Renovation Loan Program (PDF)
High Performance Building Construction Loans
The Redevelopment Agency provides grants to developers who construct new buildings to a Silver, Gold, or Platinum LEED-certified level. The Redevelopment Agency will also act as a lender-of-last-resort, providing low interest loans for a portion or all of the development costs not covered by private financing. Developers can use the funds to finance the construction of new residential, mixed-use or commercial buildings. All loans are subject to qualifications of the borrower(s) and availability of funds.
High Performance Building Construction Loan Program (PDF)
Housing Property Acquisition Loans
Short-term loans are available to non-profit and for-profit developers who acquire property for mixed-income housing projects. The Redevelopment Agency will lend up to $500,000 for projects where 20 to 40 percent of total units proposed will be available to households whose incomes are 60 percent or less than area median income for rental units or 80 percent or less than area median income for owner-occupied condominium units.
Housing Property Acquisition Loan Program (PDF)
Environmental Assessment and Remediation Loans
The Redevelopment Agency provides loans at 3% interest for the assessment and remediation of environmentally contaminated properties. The funds will match 50% of costs for site assessment work and remediation activities. All loans are subject to qualifications of the borrower(s) and availability of funds.
Environmental Assessment and Remediation Loan Program (PDF)
Tax Increment Reimbursement Programs:
(Eligible in all Project
Areas except North Temple Viaduct, Central City, and Ball Park)
The Redevelopment Agency will reimburse property owners or developers for
public space improvements, renovating a historic building to a vanilla shell
status, and constructing underground or structured parking. The
reimbursement is from the property tax increment generated by the private
development. For more
information, contact the Agency at (801) 535-7240.