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New state loan fund and a regional tax‑increment tool aim to spur affordable for‑sale housing
Summary
Speakers at a Utah League webinar described House Bill 492 (a repurposed $100 million revolving loan fund for infrastructure) and House Bill 507 (creating a Regionally Significant Development Zone that consolidates several tax‑increment tools and sunsets older programs by 2028), and outlined how cities can pair those tools with development agreements to support owner‑occupied starter homes.
Carson Eilers, policy director at the Utah League of Cities and Towns, told a March 26 webinar that the 2026 Legislature repurposed roughly $100 million into a revolving loan fund he called the State Housing Infrastructure Partnership Program to help local governments and builders finance system‑scale infrastructure needed for housing. "They repurposed some existing money, a $100,000,000 into a revolving loan fund to help both spur and incentivize more partnership between local governments and the development community," Eilers said. The loans are intended to be well below market and will be administered by a five‑member board with discretion over rates and criteria.
Eilers said the program is not a new appropriation but a reuse of money previously set aside…
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