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What Ogden officials learned about 'Fizz' — the First Home Investment Zone
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Summary
Staff explained the First Home Investment Zone (FIS or 'Fizz'), its affordability and owner-occupancy rules, density requirements, and the limits on tax-increment capture; presenters cautioned that some numeric caps require statutory confirmation.
At the work session Jared Johnson described the First Home Investment Zone (FIS), sometimes called the 'Fizz,' as another state tool municipalities can use to promote owner-occupied and for-sale housing.
Johnson said the FIS rules appear in state code ("title 63 n chapter 3 part 16") and outlined core requirements: at least 25% of homes in a FIS must be affordable, with at least 12% of total owner-occupied homes and 12% of rental homes meeting affordability tests. He also said owner-occupied units required by the FIS must remain owner occupied for at least 25 years from the date of original purchase for the required share.
On density, Johnson said a FIS generally requires 30 units per acre in 51% of the developable area (extraterritorial contributing units can count toward the density requirement). He said the financing mechanism is tax-increment capture and that a FIS may capture up to 60% of each taxing entity's increment above base year for up to 25 consecutive years within a 45-year period, subject to committee approval; Johnson prefaced some caps and counts with uncertainty and suggested staff would verify statutory limits.
Council members asked practical questions about unit types (condominiums, ADUs) and monitoring: Johnson said the developer has initial responsibilities but the city must track compliance and reporting for required owner-occupancy and affordability terms.
No formal action was taken; staff will follow up on technical questions and distribute the presentation slides.
