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Ogden named to state pilot for low-interest home‑rehab loans; city weighs program rules and funding role
Summary
City staff said Ogden and Salt Lake City were selected for a state pilot that would make low-interest loans available to contractors or buyers who rehabilitate homes and sell them as owner‑occupied units; the program could make up to $10 million available to participating communities and would require the city to act as loan guarantor and
Ogden — City staff told the council the Legislature selected Ogden as one of two communities for a residential rehabilitation pilot program aimed at returning underutilized properties to owner occupancy through low‑interest loans administered in partnership with private contractors.
City staff described the program as a state pilot that allows the city to make loans that the private sector repays and that the city would need to guarantee; staff estimated the program could provide "potentially up to $10,000,000" in loan funds if fully funded and scoped. The council heard staff say the program emphasizes owner‑occupied outcomes and that program rules,…
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