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Davis County approves contingency purchase of 5.26 acres for supportive housing tied to HUD loan
Summary
The commission approved ratification of a $4,000,000 real-estate purchase for a planned permanent supportive/transitional housing project in Clearfield, contingent on a Section 108 loan guarantee; a $50,000 earnest escrow is refundable through Nov. 2 if the county withdraws.
The Davis County Commission voted unanimously to ratify a real-estate purchase contract for roughly 5.258 acres in Clearfield intended for a permanent supportive/transitional housing project, contingent on approval of the county's Section 108 loan guarantee application with the U.S. Department of Housing and Urban Development. "This is payable in the amount of $4,000,000," Mr. Anderson told the commission while outlining the terms of the contract.
Mr. Anderson said the purchase requires a $50,000 earnest-money escrow that would be returned if the county decided not to move forward by Nov. 2, and that any Section 108 loan would be repaid using future Community Development Block Grant (CDBG) funds. A commissioner moved to approve the item and the motion passed by unanimous voice vote. The item was presented as contingent — commissioners did not commit additional funds beyond the refundable escrow pending federal loan approval.
