Programs
To to assist property owners in project areas to
renovate, rehabilitate, or construct new buildings, the RDA
offers several programs. These include loan programs
for building public infrastructure as well as high performance
building incentives. To determine whether your property is eligible
for RDA funding, see our project area
maps
to determine if your property is within RDA
project area boundaries.
If you would like to see some of the successful projects
involving the RDA's loan programs, please see our
RDA
Projects page and select a
project area.
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 allows you to print the application and fill
it in by hand or typewriter. For more information on the
following programs, please contact the RDA at (801) 535-7240.
Loan Programs
(Loan programs are available in all
project areas except North Temple Viaduct and Ballpark.)
New Construction Loans
(PDF)
Developers can use the funds to finance
the construction of new residential, mixed-use, or commercial
buildings.
Building Renovation Loans
(PDF)
Building owners and developers can receive
funding for up to 50% of building renovation costs including
restoring the façade of the building to its original appearance.
High Performance Building Renovation Loans
(PDF)
Property
owners or developers can receive financing for 50% of building
renovation costs at 0% interest for buildings that achieve a
LEED certification level or an ENERGY STAR rating.
High Performance Building Construction Loans (PDF)
The Redevelopment Agency provides grants and loans to developers
who construct new residential, mixed-use or commercial buildings
to a LEED-certified level.
Environmental Assessment & Remediation Loans
(PDF)
The Redevelopment Agency provides
loans for 50% of the costs associated with assessment and
remediation work for environmentally contaminated properties.
Housing Property Acquisition Loans
(PDF)
Short-term loans are available to
non-profit and for-profit developers who acquire property for
mixed-income housing projects.
Reimbursement Program
(Eligible in all Project Areas except
North Temple Viaduct, Central City, and Ball Park.)
Tax Increment Reimbursement Program (PDF)
The Redevelopment Agency will reimburse property owners or
developers for open-air and public space improvements,
renovating a historic building to a vanilla shell status, and
constructing underground or structured parking as part of a
housing development.
Each year the RDA makes its funding application available to City
departments and the public. All complete applications received by
the deadline will be included in the ranking process undertaken by
the RDA Board, the Mayor, and the Redevelopment Advisory Committee
(RAC) during the annual budget process. To learn about the deadline
and to download the application and goals, please visit our
Finances
page. If you are interested in a loan or tax increment
reimbursement, DO NOT FILL OUT the RDA's Funding Application.
You must fill out the appropriate program application from the
section above.
