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Draper partners with Ivory Foundation to reserve seven deed‑restricted homes for city and school employees
Summary
The Draper Community Reinvestment Agency agreed to contribute funds so seven for‑sale homes in Big Willow will be deed-restricted for critical workforce employees; units will be deed-restricted for 50 years with a 4% annual appreciation cap.
The Draper City Community Reinvestment Agency (CRA) approved a resolution to contract with the Clark and Christine Ivory Foundation to reserve seven for‑sale, deed‑restricted homes in the Big Willow neighborhood for Draper City and Canyon School District employees.
Under the approved agreement the CRA will contribute $100,000 per reserved unit in CRA funds. The Ivory Foundation agreed to sell seven units at below-market prices with no developer profit for the designated…
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