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
General Applications:
- Loan Application
- Loan Criteria & Procedures
- Underwriting Criteria
- Application for Tax Increment Rebate
- 2007/2008 Funding Application
Project Area Maps
Programs and Applications by Project Area:
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Baseball Stadium
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Central City
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 is provided below.
Building Renovation Loan Program
Owners of buildings located with the Central Business District and Sugarhouse Project areas are eligible for low-interest rehabilitation loans. Under this program, RDA will lend up to 50% of the costs to restore the facades of buildings as closely as possible to their original appearance, to rehabilitate or convert upper floors of commercial buildings into a residential use, to bring major systems of buildings or the building structure into compliance with current codes; and to meet ADA accessibility requirements.
Building Renovation Loan Program (PDF)
Building Renovation Loan Program for High Performance Buildings
NEW PROGRAM!
Building owners in any RDA project area are eligible to apply for this program. The RDA will provide owners a 0% loan upon proof of receiving either LEED certification (for any type of project) or an ENERGY STAR rating (for housing only). The RDA will lend up to 50% of the costs for renovations as specified in the program guidelines.
Building Renovation Loan Program for High Performance Buildings (PDF)
New Construction Loan Program
This program is intended to offer low interest rate loans to developers for construction of new buildings within the the RDA Project Areas. The RDA will act as a lender of the last resort, loaning up to a maximum of 100% of the eligible costs to fund construction of new residential, mixed-use or commercial buildings.
New Construction Loan Program (PDF)
New Construction Loan Program for High Performance Buildings
NEW PROGRAM!
In addition to the low interest rate offered in the standard New Construction Loan Program, the Agency will also grant back to the developer a portion of the costs for LEED registration and certification costs which are calculated as a proportion of the Agency's contribution to the project. The Agency will also grant back to the developer a percentage of architectural/engineering costs as follows: 25% for LEED Silver-Certified projects; 50% for LEED Gold-Certified projects, and 75% for LEED Platinum-Certified projects.
New Construction Loan Program for High Performance Buildings (PDF)
Housing Urban Design Tax Increment Reimbursement Program
This Program is intended to encourage the development of housing that is transit-oriented and urban in character with underground or structured parking. The RDA will reimburse owners $3,000-$6,000 per parking stall from the tax increment generated by the development depending on the design of the project’s parking structure. No more than 50% of the housing parking stalls may be shared-use stalls and 90% of all parking must be structured.
Housing Urban Design Tax Increment Reimbursement Program (PDF)
Tax Increment Rebate Program
The program gives property owners within the West Capitol Hill Project Area an incentive to invest in improvements to their properties. Over a five-year period, RDA will rebate to property owners the increase in property taxes the RDA receives resulting from the increased assessed value of the property.
Tax Increment Rebate Program (PDF)
Neighborhood Business Loan Program
This program is available in the Central City, West Temple Gateway and West Capitol Hill Project Areas and is intended to offer low interest rate loans to owners of neighborhood support businesses to improve the appearance and function of the buildings, bring major systems of the buildings into compliance with current codes, renovate site improvements and meet ADA accessibility requirements. The RDA will lend to qualifying businesses a maximum 50% of the costs to renovate the neighborhood business facility at 3% interest.
Neighborhood Business Loan Program (PDF)
Environmental Loan Program
The environmental loan program is available to help with the assessment or remediation of environmental contamination on properties located in the Redevelopment Agency's project areas. This program provides low interest loans for up to 50% of environmental costs up to a maximum of $10,000 for site assessment or $100,000 for site remediation activities.
Environmental Loan Program (PDF)
Depot and Granary Districts
The following programs were recently developed for the Depot District and Granary District Redevelopment Project Areas.
Public Use Area Tax Increment Reimbursement Program
(Depot District and Granary District)
The RDA will reimburse to the owner, from tax increment generated from the development, up to 50% of the cost of the right-of-way improvements required by Salt Lake City. These improvements usually include sidewalk, curb, gutter, parking strip landscaping and irrigation, benches and street lighting.
Public Use Area Tax Increment Reimbursement Program (PDF)
Historic Preservation Tax Increment Reimbursement Program
(Depot District)
For buildings listed on the State or City Historic Register, the RDA will reimburse to owners, from tax increment generated from the owners' development, up to 50% of the cost to renovate to a "vanilla shell" in excess of the cost of constructing an equal amount of new space for the use proposed. The plans for the exterior renovation of buildings only listed on the National Register of Historic Places must be approved by the State Historic Preservation Officer; plans for buildings listed on the Salt Lake City Register of Historic Places must be approved by the Salt Lake City Landmarks Committee.
Historic Preservation Tax Increment Reimbursement Program (PDF)
Housing Property Acquisition Loan Program
(Depot District and Granary District)
The RDA will make matching loans for acquiring property for housing developments at 5% to for-profit developers and 0% to nonprofit developers. The loans are due in full when the construction financing is put in place.
Housing Property Acquisition Loan Program (PDF)
Warehouse to Housing Conversion Loan Program (Depot District)
Owners and developers who are converting older warehouse/commercial buildings into housing units are eligible for 5% matching loans to pay for facade, structural, and systems upgrades. The development may include new construction in addition to the renovation of the older building.
Warehouse to Housing Conversion Loan Program (PDF)
Housing Property Acquisition Loan Program
This program is intended to encourage the development of mixed-income housing within the Depot and Granary Districts by providing short term, low interest loans to non-profit and for-profit developers to acquire property for such development. The Agency will loan 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
Renovation Loan Program (Depot District and Granary District)
The RDA will make matching 50% loans to owners of older commercial buildings for facade, structural and systems upgrades that will permit continued economic use.