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City Council Considers Deed Restrictions to Boost Homeownership

October 14, 2024 | Millcreek City Council, Millcreek, Salt Lake County, Utah


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City Council Considers Deed Restrictions to Boost Homeownership
In a recent government meeting, discussions centered around a proposed zone change that would allow for increased density in a neighborhood, with a focus on promoting homeownership through deed restrictions. Officials emphasized the importance of ensuring that new developments are owner-occupied, responding to community concerns about the impact of rentals on neighborhood stability and local schools.

One official noted that the neighborhood is willing to accept five new units, but only if they are owner-occupied. This sentiment reflects a broader concern among residents about the perceived degradation of their community due to an influx of rental properties. The official pointed out that the closure of Mill Creek Elementary School was partly attributed to the presence of renters without children, highlighting the need for a demographic shift to support local educational institutions.

The applicant for the zone change indicated that the projected sale price for the new units would be around $650,000, which raises questions about affordability in the area. Comparatively, the average rental price for a three-bedroom unit in Mill Creek is approximately $2,225 per month, suggesting a significant financial barrier for potential homeowners.

The meeting underscored the delicate balance between development and community interests, with officials considering how to implement restrictions that align with the desires of local residents while accommodating new housing opportunities. The discussions reflect ongoing challenges in addressing housing needs while maintaining the character and stability of established neighborhoods.

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Scribe from Workplace AI
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