Financial Resources

Finding resources to preserve historic buildings in Utah is possible through a variety of loans and grants. Look here for resources from:

Preservation Utah

Preservation Utah, a non-profit statewide historic preservation advocacy organization, offers an array of real estate programs that can benefit an owner financially.

Low-Interest Loans

To qualify, a property must be at least 50 years old and retain its architectural integrity. Approval of loan applications is based on a number of criteria, including the historic appropriateness of the proposed renovation and availability of loan funds. If a property meets all criteria, the owner would be eligible for a loan at half of the prime interest rate.

Preservation Easement Donation

Owners of National Register-listed buildings may donate easements to UHF to insure the preservation of their buildings in perpetuity and may take a charitable gift tax deduction on the federal return for the value of the donation. This value is calculated by a qualified appraiser and is generally related to the value of the development potential of the land which the building occupies. An easement is a legal agreement between a property owner and the easement holding organization and will govern the future treatment of the property to insure it will be appropriate to the historic building.

Contact the Historic Properties Program Manager at (801) 533-0858.

Utah State Historic Preservation Office (SHPO)

Visit website: https://history.utah.gov/preservation/

house-bl-wh.jpgFederal Tax Credits for Commercial Properties

The Utah State Historic Preservation Office administers the federal investment tax credit program. Qualifying projects must be listed on the National Register of Historic Places within 3 years of starting the project, plan for work to be done that will meet the Secretary of the Interior's Standards for Rehabilitation, and will meet an adjusted basis formula to determine eligibility. If all criteria are met, the owner qualifies for a federal tax credit in the amount of 20% of the total rehabilitation costs on that project.

State Tax Credits for Residential Properties

The Utah State Historic Preservation Office administers state tax credit program. Qualifying projects must be listed on the National Register of Historic Places within 3 years of starting the project, plan for work to be done that will meet the Secretary of the Interior's Standards for Rehabilitation, and spend a minimum of $10,000. If all criteria are met, the owner qualifies for a state tax credit in the amount of 20% of the total rehabilitation costs on that project.

CONTACT: Amber Anderson, Utah SHPO (801) 245-7277

State and Federal Grants

The SHPO also administers federal funding for communities with preservation programs that meet specific guidelines. There are over 80 of these communities throughout the state and they are known as Certified Local Governments (CLG). CLGs are eligible to receive a small amount of matching grant funds generally used to conduct reconnaissance and intensive-level surveys and for the preparation of National Register nominations. In a limited number of instances, funding is available for ‘bricks and mortar' projects.

National Trust for Historic Preservation

Visit website: www.preservationnation.org

Utah Preservation Initiatives Fund

To encourage local efforts to preserve historic places, the National Trust has established the UPIF. This fund is administered by the Mountains/Plains Office of the National Trust in Denver . Local governments and non-profit organizations that are members of the National Trust Forum program are eligible to apply for matching grants ranging from $500 to $10,000. Eligible grant activities include building reuse feasibility studies, structural investigations, educational workshops, design guidelines, and other planning needed to help save historic places in Utah.

CONTACT: National Trust for Historic Preservation Grants Office via email.

Municipalities

County and City governments offer a variety of programs that provide incentives for rehabilitation and homeownership in historic neighborhoods that may provide a financial incentive.

Brigham City

Visit website: https://www.bcutah.org/incentive-programs.htm

Main Street Facade Grant Policy

Brigham City offers a façade grant for buildings in the historic downtown Main Street district. Under the grant program, the City provides reimbursements of 50% of project costs up to $10,000 for approved façade projects. Details about the façade grant program are available on the City’s website at www.bcutah.org/incentive-programs.htm. Scroll to the bottom of the page for information about the grant. Building owners in Brigham City may also be able to claim Enterprise Zone Tax Credits for rehabilitation of buildings that have been vacant for two years or more. The Enterprise Zone Tax Credit program is detailed at https://business.utah.gov/rural/

CONTACT: Paul Larsen, Community and Economic Director

(435) 734-6603, 

Cedar City

Visit website: www.cedarcity.org

Application process is ongoing and applications are available online.

Leased Subsidy Program

  • Terms: Two-year program: First year rent subsidy is up to $345.00 per month. Second year rent subsidy is up to $175.00 per month.
  • Requirements: Businesses eligible for this program must be ‘for profit’ businesses new to the Downtown district.
  • Qualifications: Downtown district only.

Sign Improvement Incentive

  • Terms: Grants are available up to $2,500.
  • Requirements: Businesses eligible for this program must be a business located in the Downtown district and must have operations on the ground floor.
  • Qualifications: Downtown district only.

Tenant Facade Improvement Grants

  • Terms: 80/20 grants up to $30,000 for facades to restore and/or rehabilitate downtown buildings. 80/20 Matching grants up to $30,000 for Tenant Improvements that will enhance downtown, bring business properties up to code standards and increase business opportunity.
  • Requirements: Businesses eligible for this program must be a business located in the Downtown district and must have operations on the ground floor. Eligible businesses will be those that can demonstrate how they advance the purposes of this grant program.
  • Qualifications: Downtown district only.

Downtown Improvement Grants

  • Terms: Grants are available on a first come, first serve basis. Grants are available up to $2,500
  • Requirements: Businesses eligible for this program must be a business located in the Downtown district and must have operations on the ground floor.
  • Qualifications: Downtown district only.

CONTACT: Cedar City Economic Development (435) 865-5115

Davis County

Visit website: www.co.davis.ut.us

Application is not online but the applicaiton process is ongoing.

Business Development Loan Fund

  • Terms: Loan terms and interest rates are negotiable but are generally established at market rates such as prime plus one or two or current bank loan rates. This is not designed as a low interest loan program. All principal and interest will be repaid within 5 years but the loan can be structured with balloon payments, interest only with sliding scale payments, etc. The loan terms are negotiated around the business’s needs.
  • Requirements: In order to determine the viability of the company, three years of financing statements and/or tax returns are required. A proforma and business/marketing plan is also required. Collateral and personal guarantees are required to back the loan.
  • Qualifications: Financial statements must indicate that the company has been profitable for the past two years and cash flow analysis must indicate the company will have the ability to service the debt over the length of the loan. Any Davis County business qualifies for the loan provided they are located in Davis County and remain in Davis County during the term of the loan.

CONTACT: Community and Economic Development (801) 451-3278

Logan

Visit website: https://www.loganutah.org

Welcome Home - Own in Logan

  • Terms: Participants can get a grant of $5,000 and an additional $2,500 in matching funds. The subsidy does not have to be repaid if the house remains owner-occupied and the full amount is completely forgiven after 10 years.
  • Requirements: Applicants must attend a homeownership workshop at a HUD approved agency, and provide an original certificate of completion. Applicant must provide $500 in personal funds toward the down payment or closing costs, verified per the settlement statement. Gifts are eligible to meet this requirement.
  • Qualifications: Must be a first time homebuyer. Income must be below 80% of the HUD median income guidelines for Cache County. This includes income for all persons in the household over the age of 18. Must meet the housing debt ratio of 38% and the total debt-to-income ratio of 41%.

CONTACT: Dave Schuster, Neighborhood Nonprofit (435) 753-1112

Murray

Visit website: Murray Community Economic Development   /  Murray Housing Resources   /    Community Development Corp

Down Payment Assistance

  • Terms: $5,000 deferred; 50% forgiven after 15 years DPA is paid back when (and if) a triggering even occurs, such as the homeowner sells the home, transfers title or refinances to take equity out. If the amount owed is partially forgiven (e.g. $2,500 in Murray instead of $5,000 after 15 years), the remaining balance does not become due at that time - it would be paid back when a triggering event occurs. Application is online and funds are currently available for this area.
  • Requirements: Applicant must contribute a minimum of $500.00 in personal funds to the down-payment or closing costs. (Maximum amount cannot exceed 10% of purchase price). Applicant must secure a FHA, VA, or Conventional financing for property purchase. Applicant must complete a Homebuyer Education Course (must be HUD Certified) and obtain a Homebuyer Certificate upon completion of course.
  • Qualifications: Applicant must meet Income Eligibility for his/her household size. Applicant must be a U.S Citizen or Resident Alien and be 18 years of age or older. Must be a First-Time Homebuyer. Eligible Boundaries - Area within Murray city limits. Eligible properties are limited to Single-Family Detached Residences, Single-Family Attached Residences (such as Condominiums and Town homes). Purchase price of property cannot exceed $230,000. Purchased property must be zoned for residential use only. The purchase of said property must not lead to the displacement of any individual other then the Seller and his/her immediate family.

CONTACT: Jay Bladen, Community Development Corporation of Utah (801) 994-7222

Community Development Block Grant

  • Terms: Unspecified amount but it is a government grant so no repayment is required. Application is online but the application process for this year (2011) is already complete.
  • Requirements: Must meet one of the national objectives of the CDBG program. Must Address one or more of the Objectives stated in the Salt Lake County Consolidated Plan. This is in addition to meeting a HUD designated Objective and Outcome. Must Request funding for a project that is identified as an eligible CDBG activity. Identify the Outcome Measurements for your program.
  • Qualifications: Private agencies, governmental entities or individuals may submit proposals. Projects in this category must be a “brick & mortar” activity, acquisition of real property, economic development, housing rehabilitation, public improvement, or planning. Be located within Murray City or demonstrate that clients served, for which Murray City CDBG funds will be used, reside within the eligible geographical areas of the City.

CONTACT: Angela Price, Community and Economic Development (801) 270-2420

Ogden - Residential

Visit website: Ogden Community Development

Application process is ongoing and applications are available online.

Interim loans for rehabilitation of commercial or residential projects are also available through the Ogden RDA - Call (801)-629-8946 for more information.

Own in Ogden

  • Terms: Persons purchasing their primary residence in an overall target can receive a $3,000 zero interest, deferred payment, declining loan. Specified Target Neighborhoods receive $5,000 loans. Income qualified, sworn Ogden City Police Officers and Ogden City Fire Fighters can receive a $10,000 loan when buying their primary residence within the overall target area. Own in Ogden loans can only be used at the time of closing for down payment, closing costs, or principal reduction toward the first mortgage loan. Only fixed-rate FHA, VA, or conventional financing is allowed. Documentation from the Mortgage Lender regarding expense to income ratios must be provided to the Own in Ogden Administrator. Borrower(s) must provide at least $500.00 of his/her own money toward the purchase. Effective August 28, 2002, all new Own in Ogden loans will be forgiven at a declining rate over a five-year residency requirement period.
  • Requirements: Income documentation in the form of most recent pay-stubs and most recent tax returns are required to apply for the Own in Ogden Program. Every member of the household age 18 and older must submit income information regardless of their participation in the real estate purchase. The annual household income cannot exceed 80% of the area-wide median income.
  • Qualifications: Properties must be located within the Own in Ogden target area. The loan amount in the overall target area is $3,000. Specified Target Neighborhoods are where $5,000 loans are available. Buyers must be taking fee simple title to the property upon closing, and using the property as their primary residence throughout the term of the Own in Ogden loan. Multi-unit dwellings are allowed only if the Buyer(s) will reside in one of the units as their primary residence, and an existing tenant is not displaced to create that vacancy. Borrower(s) expense to income ratio must not exceed 45%

Home Sweet Ogden

  • Terms: On selected ACA Homes, HUD will carry back a minimum of $5,000 on a “Home Buyer Enforcement Note.” This is a no-interest loan applied to the Contract Sales Price, which is forgiven after three years of owner occupancy. Ogden City may provide up to $5,000 towards down payment and closing costs, for qualified buyers.
  • Requirements: Buyer must be an owner-occupant, and maintain the home as their primary residence for the period stated on the Property Fact Sheet. This will be either three years or five years, depending on the type of down payment financing provided. Prior to closing on the purchase, the buyer must successfully complete the home buyer education course “The Way Home.” Buyer must qualify for and provide a first mortgage. Prior to submitting an offer, buyer must obtain a pre-approval letter from a lender stating qualification for a mortgage sufficient to purchase the home. The buyer will be required to furnish a minimum of $500 out-of-pocket.
  • Qualifications: ACA - Individuals who have an income at or below 115% of the area median income adjusted by family size. Rehab and New - Individuals who have an income at or below 80% of the area median income adjusted by family size.

CONTACT: Community Development (801) 629-8940

Ogden - Commercial

Visit Website: Ogden Business Development

Small Business Loan Program

  • Term: Minimum 5k loan to a maximum of 90k. Interest rate of up to 12% annual. Repayment is a maximum of 10 years, but is subject to the length of lease and/or life of improvements secured. Loan to value ratio - up to 100%. Debt to income ratio - up to 50%. Owner’s return on equity varies based on industry standards for the type of business. Application is online and loans are made available on a first come, first served basis to the extent that funding is budgeted and available. Ogden City Small Business Loan proceeds can be used for a variety of project costs, including real estate acquisition, new construction, rehabilitation, equipment purchases, and working capital. Ogden City funds cannot, however, be used for the refinancing of existing debt.
  • Requirements: For activities funded through the Federal Community Development Block Grant Program, loans are subject to requirements outlined in 24 CFR Part 570. This includes the payment of prevailing wages for workers on construction projects. Activities funded through this program must be designed to benefit low and moderate income persons. For an activity which creates or retains jobs, the use of Ogden City CDBG funds cannot exceed $35,000 per full-time equivalent job. The applicant must provide sufficient evidence that the amount of funds requested from Ogden City is necessary for the project to succeed.
  • Qualifications: Business location must be in Ogden City. The applicant must demonstrate the ability to repay the loan and provide adequate collateral for securing the loan.

CONTACT: Business Development (801) 629-8910

Orem

Visit website: www.orem.org

Application process is ongoing and applications are available online.

Loan Program

  • Terms: Maximum Housing Rehabilitation Loan: Cost of your project or up to $15,000; Interest Rate: three percent (3%); Repayment Period: ten (10) years; Grace Period: ten (10) days; Late Fee: $25; Security: SECOND MORTGAGE PLACED AGAINST THE PROPERTY. If applicant is over 62 years old, they may qualify for a zero percent deferred loan.
  • Requirements: All improvements must be physically attached to the house and permanent in nature. Manufactured housing (mobile homes) are not eligible for this program. Units must be able to comply with all City, State, and Federal Housing Quality Standards at the completion of rehabilitation. A City Building permit is required for applicable rehabilitation loans.
  • Qualifications: City of Orem Resident. Own and reside in a single-family unit (Single-family units include homes, condominiums, and town homes. The unit must be recorded in your name only. No relative, friend, or other entity may share ownership of the home.) Must meet income guidelines which are based on annual household gross income.

Emergency Repair Grant

  • Terms: Emergency repair grants shall not exceed $3,750 for those individuals whose income meets the income guidelines. No applicant shall be entitled to more than one emergency repair grant in any three-year period.
  • Requirements: The applicant must meet the eligibility requirements for the CDBG/HOME assistance to receive a grant/loan for emergency repairs.
  • Qualifications: Funds shall be granted/loaned for the following reasons -- Any act of nature resulting in critical, but repairable damage to the structural condition of the home; or To eliminate specific and immediate hazards to health, safety and/or sanitation.

Accessibility Grant

  • Terms: The Accessibility Grant shall not exceed $3,750 for those individuals whose income meets the income guidelines. Projects such as wheelchair ramps, handrails, handicap accessible toilets/showers, and so on will be eligible for this program.
  • Requirements: The applicant must meet the eligibility requirements for the CDBG/HOME assistance to receive a grant/loan for accessibility improvements.
  • Qualifications: The Housing Rehabilitation Administrator shall have the authority to grant/loan funds for accessibility improvements on any structure determined to be appropriate. The improvements will assist persons with disabilities and/or poor health conditions.

Deployed Military Grant

  • Terms: Deployed military emergency repair grants shall not exceed $3,750 for those individuals whose income meets the income guidelines. No applicant shall be entitled to more than one emergency repair grant in any three-year period.
  • Requirements: The applicant must meet the eligibility requirements for the CDBG assistance to receive a grant/loan for emergency repairs.
  • Qualifications: Funds shall be granted/loaned for the following reasons -- Any act of nature resulting in critical, but repairable damage to the structural condition of the home; or To eliminate specific and immediate hazards to health, safety and/or sanitation. The property must be owned and occupied by a deployed member of the U.S. Armed Forces.

CONTACT: Community Services Department (801) 229-7025

Park City

Historic District Grant Program

Visit website: https://www.parkcity.org/departments/planning/historic-district-grant-program

  • Terms: Grant recipients are required to sign a Historic Grant Program Agreement, Trust Deed, and Trust Deed Note, on the affected property. If the property is sold within five years, grant funds are repaid at a pro-rated amount, plus interest.
  • Requirements: This is a matching funds grant and provides reimbursement. Applications must be submitted to the Planning Department by the 10th of each month in order to be considered for review by the Historic Preservation Board at the following month’s meetings. Application is available online.
  • Qualifications: Grants are available for historic residential or commercial structures in Park City. The purpose of the grant is to assist in offsetting the costs of rehab work. Grants are to be used toward specific rehabilitation projects.

CONTACT: Planning Department (435) 615-5060

Provo - Residential

Historic Preservation Loans

Visit website: Provo Home Purchase Plus Program

  • Terms: The maximum loan amount is $10,000 with an equal match to be provided by the applicant. The match must be documented as part of the application process. The loan will be a 0%,15-year loan with payments beginning upon completion of the project. Application process is ongoing and applications are available online.
  • Requirements: Equal match by applicant. The project must be completed within six (6) months of loan approval with the possibility of a six (6) month extension on the required completion date.
  • Qualifications: The home must be located within the Dixon, Franklin, Timp, Maeser or Joaquin Neighborhoods. The building must be listed on the Provo City Landmarks Register or the owners must be willing to have it placed on the Landmarks Register as a condition of loan approval. Owners of properties who have made application for Landmarks Register approval may concurrently apply for the loan program, and if approved by the Municipal Council, shall have priority over subsequent applications.

Emergency Home Repair Grants

  • Terms: Up to $7,500 is a grant, anything above that up to $15,000 is a 0% interest deferred payment loan. Application process is ongoing and applications are available online.
  • Requirements: Repairs must be a health or safety emergency.
  • Qualifications: Properties owned and occupied by very-low or low-income persons who are 60 years of age or older and/or on Social Security Disability; and low-moderate income households owned and occupied by active-duty members of the U.S. Armed Forces within Provo City limits.

Home Purchase Plus Loans

  • Terms: Up to $20,000 available in Pioneer neighborhoods and Central Business District. $10,000 available in all other areas of Provo. 0% interest - deferred payment. 15 year owner-occupancy restrictive covenant. Application process is ongoing and applications are available online.
  • Requirements: You must be able to put down $1,000 of your own money. Subject to RDA underwriting criteria.
  • Qualifications: Purchase price of the home may not exceed HUD limitations ($426,550 effective July 1, 2021). Property may be a single-family home, a home with a legal accessory apartment, one half of a twin home or town home. Within the Central Business District, down-payment assistance can be obtained for condominiums only. Home may not be currently occupied by renters who would be displaced by the purchase.

CONTACT: Redevelopment Agency (801) 852-6160

Provo - Commercial

Visit website:  Provo Downtown Facade Grants

Blade Sign Grants

  • Terms: Each eligible business may receive a grant of up to $1,000 toward the cost of fabricating and installing a projecting sign and lighting for the sign. This program is offered on a first-come, first-serve basis for grant applications approved by December 31, 2011, or until funds run out, whichever comes first.
  • Requirements: The grant is available only for new projecting signs that meet City ordinance.
  • Qualifications: Businesses must be fronting on Center Street from 500 West through 100 East and on University Avenue from Center Street through 200 North.

Commercial Façade Improvement Program

  • Terms: The maximum grant will be 50% of eligible and pre-approved activities with a maximum amount of $10,000, with documentation that applicant has matched this amount on eligible and pre-approved activities. Application process is ongoing and applications are available online.
  • Requirements: Equal match by applicant.
  • Qualifications: Project must be in the designated area of the CBD, quality and completeness of application, significant exterior improvements with potential impacts on the CBD, and/or the creation/retention of jobs.

CONTACT: Redevelopment Agency (801) 852-6160

Salt Lake City - Residential

Visit the SLC preservation webpage.

Fix The Bricks

Visit Fix the Bricks webpage.

Salt Lake City offers a unique opportunity for home owners to implement seismic retrofits to their Unreinforced Masonry (URM) homes. URM buildings create the greatest risk for the Salt Lake Valley in an expected large magnitude earthquake. Salt Lake City’s Fix the Bricks program facilitates seismic improvements for its residents' URM homes in an effort to save lives and reduce the number of injured and trapped after an earthquake.

The funding that supports this program comes from a federal pre-disaster mitigation grant. The city intends to apply for this federal grant every year and every year they hope to increase the number of properties in the program. During open enrollment periods, residential applications are placed on a wait-list in the order received. To get on the wait-list complete the registration form. For more information email: or call 801-799-3698.

Home Repair Program

Visit website.

Application process is ongoing and applications are available online.

  • Terms: Up to $20,000. The interest rate is currently set between 0% and bank rates. Minimum payment loans and deferred payment loans are at 0%.
  • Requirements: Repairs needed to bring the property up to the current housing standards such as plumbing, electrical, roofs, furnace, etc.
  • Qualifications: Only available to homeowners and investors within Salt Lake City limits.

First Time Home Buyers Program

Visit website.

  • Terms: Interest rate as low as 3.00% fixed for 30 years.
  • Requirements: Attend homeowner training classes, credit counseling and home maintenance visits. Establish a minimum $ 500.00 savings account to contribute towards closing cost.
  • Qualifications: All properties will be within Salt Lake City limits. Be at least 18 years of age and a legal resident. Not own any residential property (more than 3 years since owned one). Occupy the property as a principal residence. Have a gross annual household income that does not exceed established income guidelines. Have a family size suitable for the property. Be credit worthy and able to qualify for a loan (No bankruptcy before two years after discharge, no pending collections, judgments etc.).

CONTACT: LuAnn Clark, Housing and Neighborhood Development (801) 535-7228

Salt Lake City - Commercial

Small Business Building Renovation

Visit website.

Application process is ongoing and applications are available online. Applications need to be submitted 10 days prior to committee meetings, which occur on the first and third Tuesday’s of the month.

  • Terms: Up to $50,000; 10 year term; Fixed Rate Prime + between -4 and +3; collateral minimum 25% of loan amount; cash requirement 10% cash or equivalent injection.
  • Requirements: A loan evaluation matrix shall be used by the City’s Business Loan Committee to rank loan applications. The loan evaluation matrix has a total of 100 points, and a loan application must receive at least 70 points to be recommended to the Mayor for final approval. Existing businesses are also evaluated in terms of any crime issues relating to the business.
  • Qualifications: Businesses eligible for the loan program must be a for-profit entity located in Salt Lake City. Businesses that have a loan with the city cannot apply for a new loan until the current loan is paid in full.

Storefront Micro Loans

  • Terms: Up to $5,000; No longer than 3 year term; Fixed Rate Prime + between -4 and +3; no collateral or cash required.
  • Requirements: Signage depiction on 8.5 x 11 including design, size, lighting, etc.; Personal financial statement; Three years personal tax returns; Business debt obligations; Three years business tax returns; One year profit and loss statements and current balance sheet; Approval from building owner for signage, if applicable. Applicants must obtain a permit from the City for the sign before the loan will be funded.
  • Qualififcations: Businesses eligible for the loan program must be a for-profit entity located in Salt Lake City.

CONTACT: Small Business Economic Development (801) 535-7941

Salt Lake City - Redevelopment Agency

Visit website.

Building Renovation Loans

Applications are online and application process is ongoing.

  • Terms: The maximum amount of a loan is 50% of eligible hard costs. Amortization rate is a maximum period of 20 years. Interest rate of 3%
  • Requirements: Property taxes and special assessments must be current. No judgments or liens are outstanding against the borrower(s). Applicant's credit history shall demonstrate prompt payment of past obligations. Applicant shall have income adequate to repay the funds loaned.
  • Qualifications: All Redevelopment Project Areas are eligible except the North Temple Viaduct and Ball Park project areas. Commercial, residential, or mixed-use properties located within a designated Redevelopment Agency (RDA) Project Area. The owner’s plan for the property must contribute to the RDA’s goals for the Project Area and conform to the neighborhood’s master plan. RDA goals are available upon request. The applicant for a loan must be the title owner to the property.

High Performance Building Renovation Loans

  • Terms: The maximum amount of a loan is 50% of eligible hard costs. Amortization rate is a maximum period of 20 years. Interest rate of 3% until applicant has proven LEED certification or ENERGY STAR rating for improvements. After LEED certification or ENERGY STAR rating has been verified by the RDA, the loan shall be re-amortized at a 0% rate on the current balance for the remaining term.
  • Requirements: Property taxes and special assessments must be current. No judgments or liens are outstanding against the borrower(s). Applicant's credit history shall demonstrate prompt payment of past obligations. Applicant shall have income adequate to repay the funds loaned. Applicant must register or apply for a LEED certification (“Certified Level”) or an Energy Star rating after loan approval and before commencement of the work.
  • Qualifications: All Redevelopment Project Areas are eligible except the North Temple Viaduct and Ball Park project areas. Commercial, residential, or mixed-use properties located within a designated Redevelopment Agency (RDA) Project Area. The owner’s plan for the property must contribute to the RDA’s goals for the Project Area and conform to the neighborhood’s master plan. RDA goals are available upon request. The applicant for a loan must be the title owner to the property.

Tax Increment Reimbursement Program

Terms: The owner(s) or developer(s) may use cost estimates for the preliminary reimbursement amount. The final reimbursement amount is based on the actual cost of improvements that are verified.The owner(s) or developer(s) shall pay the initial cost of the Improvements as part of the development cost. RDA shall have the right to prepay the amounts due at any time. Any prepayment shall proportionately reduce the percentage of tax increment to be paid to the owner.

Public space improvements: For Improvements that are not within a building or structure, the RDA will reimburse or grant the owner(s) or developer(s) up to 75% of the cost of the design and construction of the Improvements included within the Easement, excluding land cost.For Improvements that are located within a building or structure, the RDA will reimburse the owner(s) or developer(s) up to $25 per square foot for the improvements included to assist with the cost of the design and construction of the Improvements.

Historic preservation: The RDA will reimburse or grant the owner(s) or developer(s) up to 50% of the cost of completing the renovation to a vanilla shell status. Soft costs of development are eligible for reimbursement, including design, construction management, and financing fees.

Underground/structured parking: If parking for the housing is built partially below grade or is included entirely within a parking structure, the RDA will reimburse or grant the owner(s) or developer(s) $3,000 per stall with a maximum of one stall per unit for all of the housing units included in the development. If parking for the housing is built entirely below grade, the RDA will reimburse or grant the owner(s) or developer(s) $6,000 per stall with a maximum of one stall per unit for all of the housing units included in the development.

             Requirements:

Public space improvements: The private development must include one of the following - 1. publicly accessible mid-block walkways that connect with other publicly accessible walkways or streets; 2. publicly accessible private streets that are designed as a connecting pathway for pedestrians, as well as vehicles; or 3. landscaped and hardscaped open space that faces and is accessible from publicly-owned or publicly accessible walkways or streets. The public space improvements shall be ADA accessible. The owner or developer shall grant a moveable, perpetual, public use easement to the RDA for the publicly accessible area.

Historic preservation: The plans for the exterior renovation of the building must be approved by the State Historic Preservation Officer for buildings that are only listed on the National Register of Historic Places or the Salt Lake City Register of Cultural Resources.

Underground/structured parking: Ninety percent (90%) of the parking to be developed must be in underground or above-ground structures. No more than 50% of the housing parking stalls to be developed using RDA funding shall be shared use stalls. The design of the development shall be approved by the City=s Planning Commission and/or the RDA=s Board of Directors.

Qualifications: All Redevelopment Project Areas are eligible except the North Temple Viaduct, Ball Park, and Central City project areas. Properties located in a non-tax increment collection area within the eligible Project Areas do not qualify. To be eligible for a historic preservation reimbursement, buildings to be renovated must be listed on either the National Register of Historic Places or the Salt Lake City Register of Cultural Resources. 

CONTACT: Redevelopment Agency of Salt Lake (801) 535-7240

Salt Lake County

Down Payment Assistance

Visit SLCo Housing and Community Development funding webpage.

Visit Down Payment Assistance website.

  • Terms: Up to 6% (Not to exceed $10,000) 100% forgiven after 15 years or is paid back when (and if) a triggering even occurs, such as the homeowner sells the home, transfers title or refinances to take equity out. Application is online but no funds for Salt Lake County are currently available, however this is subject to change.
  • Requirements: Applicant must contribute a minimum of $500.00 in personal funds to the down-payment or closing costs. (Maximum amount cannot exceed 10% of purchase price). Applicant must secure a FHA, VA, or Conventional financing for property purchase. Applicant must complete a Homebuyer Education Course (must be HUD Certified) and obtain a Homebuyer Certificate upon completion of course.
  • Qualifications: Applicant must meet Income Eligibility for his/her household size. Applicant must be a U.S Citizen or Resident Alien and be 18 years of age or older. Must be a First-Time Homebuyer. Eligible Boundaries - Area within unincorporated County of Kearns and Magna. Eligible properties are limited to Single-Family Detached Residences, Single-Family Attached Residences (such as Condominiums and Town homes). Purchase price of property cannot exceed $230,000. Purchased property must be zoned for residential use only. The purchase of said property must not lead to the displacement of any individual other then the Seller and his/her immediate family.

CONTACT: Jay Bladen, Community Development Corporation of Utah (801) 994-7222

Low Interest Home Repair Loans

  • Terms: Maximum 15k loan; 3 % interest rate; 10 year repayment period. Application online and application process is ongoing.
  • Requirements: Each property must be inspected by South Salt Lake or its designee and pass an environmental review (not required in Morgan or Tooele County). Units must be able to comply with all local codes for items being rehabilitated at the completion of rehabilitation. A City building permit may be required for certain rehabilitation projects.
  • Qualifications: Areas served - City of South Salt Lake; Tooele Co.; Morgan Co.; Unincorporated Salt Lake County. Only owner-occupied units are eligible for rehabilitation loans. Mobile homes that are not on land owned by the homeowner are not eligible for this program. All improvements must be physically attached to the house and permanent in nature.

CONTACT: Kristie Thorp, Community Development Corporation of Utah (801) 994-7222

Emergency Home Repair

  • Terms: ASSIST will pay 100% of the repair costs. No liens will be placed on the home as a result of the repairs. If multiple critical repairs are needed then a 0% deferred payment loan is available. Up to 7.5k loan. No payment is due until sale or transfer of title and a lien will secure the loan. To Apply Call (801) 355-7085.
  • Requirements: Home inspection is required before application will be accepted. For deferred loan - Income, homeownership and homeowners insurance verification is required along with a property title and credit report.
  • Qualifications: Areas served - Unincorporated Salt Lake County, Salt Lake City, South Salt Lake, Murray, Midvale, Cottonwood Heights, Riverton, Taylorsville, West Jordan, Sandy, Holladay, Draper, South Jordan. For income homeowners or buyers whose income is less than 40% of the areas median income. Deferred loan for those who live in unincorporated Salt Lake County, West Jordan and Midvale City with income less than 50% of the areas median income.

CONTACT: David Woodman, ASSIST, Inc. (801) 355-7085

St. George

City of St. George Down Payment Assistance Program

Visit website.

Note: This program may no longer be active.

Applications are available online but funding is limited and made available on a first come, first served basis

Terms: Up to $6,000 in the form of a non-interest bearing loan payable when the home is sold or refinanced. If the home is not sold or refinanced prior to 10 years then the loan becomes a grant and is forgiven.

Requirements: Submit a completed application to FCAOG representative. The application submittal shall include the following:
1. Completed Down Payment Assistance Program application.
2. Commitment Letter for Approved Loan from lender of applicant’s choice.
3. Copy of completed 2010 tax return (if you itemized your taxes include Schedule A).
4. Copy of two most recent pay stubs (1 month total).
5. Copy of your signed Real Estate Purchase Contract (REPC). If transaction is a short sale or bank-owned property, the REPC must include signed documentation from the bank indicating their agreement to the terms of the REPC.
6. Copy of Utah Driver’s License (or UT Identification Card) and Social Security Card.

Qualifications: You must be a first time home buyer (have not owned a home in the past three years). You must meet household income limits. The loan is made available to owner-occupied housing units within St. George City limits; the home must be the only home owned by the applicants. You must be at least 18 years of age and a U.S. citizen or a resident. FCAOG will need to make a copy of your Drivers License or Identification Card and your Social Security Card. The maximum home price allowed is $199,734. Manufactured Homes and Construction Loans are not eligible for this program.

CONTACT: Darren Janes, Five County Association of Governments (435) 673-3548

Tooele

Visit website.

Facade, Sign and Awning Improvement Grant Program

  • Terms: Grants may be awarded for up to 50 percent of the total cost of a qualified facade rehabilitation, repair or restoration project, with a maximum grant award of $10,000 and $2,000 for sign or awnings. The annual budget for this program is $80,000.00. The applicant must match the grant with cash. Grants will be awarded on a reimbursement basis only after the applicant demonstrates full compliance with the grant award. Grant funds will be disbursed only upon completion of the project and submission of lien waivers from all laborers and material suppliers. No building may receive more than one grant per fiscal year, and no applicant may receive may receive more than three grants per year.
  • Requirements: Building owner must show evidence of insurance on the property and name the City an additional insured to the extent of any grant funds awarded. Exterior improvements must comply with Tooele City Downtown Overlay guidelines set forth in Section 7-16-2 (7) of the code and with all other applicable City codes and regulations.
  • Qualifications: Owners and tenants (with permission from the building owner) of commercial or mixed commercial-residential property located in the Main Street District may apply for funds. Tenants must have at least a two-year lease at the location in order to qualify for the grant program. Only structurally sound buildings with safely functioning mechanical, electrical, plumbing systems will be considered for this grant. Application process is ongoing and applications are available online.

Redevelopment Agency Revolving Loan Program

  • Terms: Low interest matching loan on projects in the downtown area. This is a three to one match on projects to improve buildings or businesses.
  • Requirements: Must match loan amount.
  • Qualifications: Downtown area only for projects to improve buildings or businesses. Please contact Tooele City Economic Development with any questions.

CONTACT: Brian Berndt, Economic Development (435) 843-2103

Utah County

Visit website.

Application process is ongoing but application is not online.

Home Rehabilitation Loan Program

  • Terms: Interest rate between 0-3%; In certain instances, loan repayment may be deferred until the borrower sells or transfers the property to another owner or the borrower’s income increases. Households with eligible disabled or elderly persons often qualify for zero percent deferred loans. Typical loans range from $2,500 to $30,000.
  • Requirements: Applicants will need to provide employment, credit, mortgage, home insurance, and other third-party verifications.
  • Qualifications: Homeowners need to occupy their home and meet income guidelines. Available if you live in Lehi, Pleasant Grove, Lindon, Springville, Spanish Fork, Payson, unincorporated Utah County, Wasatch County or Summit County, Orem, or Provo.

CONTACT: Eric Jorgensen, Housing Authority of Utah County (801) 373-8333

 

Cemetery Inventory Project

Visit website.

Grants will be provided through state general funds on a local matching funds basis to assist cemeteries and nonprofit groups in digitizing their burial records and entering them into a statewide database of cemeteries and burials. The total annual amount for this fund that will be divided by all recipients is $20,000. Applications are being accepted but rewards are subject to the availablility of funds. Visit the website for an application and more information.

CONTACT: Linda Thatcher (801) 533-3574

Home purchase and repair

U.S. Department of Agriculture

The USDA has a variety of programs to purchase or make repairs to houses in rural Utah. Including no money down, low interest rates to purchase, self initiative programs to rehabilitate or repair houses under supervision, and rental payment assistance.

More information on the current programs or to locate an office in your county.

Association of Governments (AOGs)

Many counties and regions of Utah have an Association of Governments organization that provide a variety of programs that benefit historic preservation from tourism promotion to grants for repair and rehabilitation of houses.

Find an AOG in your area and discover their programs.

Olene Walker Housing Fund Loan

Visit website.

To provide safe, decent, affordable housing for low-to moderate income people in Utah low interest loans at 0-3% and some limited grant funding is available. Eligible activities: Multi-family loans for acquisition and rehabilitation or development of new projects. Single-family loans for rehabilitation and down-payment assistance. Eligible applicants: Housing developers, housing authorities, nonprofit agencies, and housing providers.

CONTACT: Mike Glenn (801) 538-8666

Other Incentives - Zoning and Codes

Historic Building Codes

Flexibility of your local building code to substantially meet safety standards yet preserve the character of the building may be negotiated with your local building code officials. Their understanding of flexibility in the code can result in substantial time and cost savings during rehabilitation.

Conditional Uses in Historic Buildings

In unusual cases that are not specified by your local zoning code, a municipality can approve a commercial, office, or institutional use in a non-conforming zone in order to preserve a historic structure or structures. Consult your local planning officials or city manager about the process to approve conditional uses which may involve a Historic Landmarks Commission, Planning Commission, Board of Adjustment or Hearing Officer, and elected Council or Commission.

Non-conforming Rights

A non-conforming right relates to zoning allowances or situations that are permitted to remain in use as they are even though they do not meet current zoning codes because the were legally existing at a prior time before the current zoning regulations become effective. These buildings and/or uses can be considered to be "grandfathered" under previous legal conditions. Many historic buildings have non-conforming rights with respect to site location, density, and parking. Thus, the value of an historic building's non-conforming rights can have a positive economic impact on a project's feasibility.

Even more information about financial resources for historic preservation is available on our Financial Resources links page.

back to top