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Ogden officials briefed on state transit- and home-ownership financing tools
Summary
City planners and councilors heard a detailed presentation on Housing and Transit Reinvestment Zones (HTRZ) and First-Home Investment Zones (FIS/'Fizz'), including affordable-unit requirements, tax-increment financing rules, review-committee composition, possible local candidate areas (Union Station, Capitol Square) and limits on capture periods.
Jared Johnson, executive director of Community and Economic Development for Ogden City, told a joint work session that two new state tools — Housing and Transit Reinvestment Zones (HTRZ) and First-Home Investment Zones (FIS, colloquially "Fizz") — use tax-increment financing to support transit-oriented and owner-occupied affordable housing projects.
Johnson said HTRZs are defined in state law (Title 63N, chapter 3, part 6) and require that at least 12% of units in an HTRZ be affordable, with 9% targeted at households earning up to 80% of area median income (AMI) and 3% at 60% AMI. "It's a tax-increment tool — that's what you're generating to provide the incentive," Johnson said, describing the financing as similar to a community-redevelopment approach but with transit-focused performance measures.
The presenter explained density and size thresholds tied to transit mode: an average density of 50 dwelling units per acre near a rail stop and 39 units per acre for…
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