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Show PACK 12 THE 1 REAL ESTATE WEEKLYSPR1NG HOME & GARDEN 1MKS-INDEPENDK- MAY Utah Housing Finance Authority introduces nations n affordable housing program first rent-to-ow- The Utah Housing Finance Agency introduced the nations first rent-to-ow- n affordable housing program eight years ago. Since that time, 160 homes CROWN (Credits-to-OWN- ) have lieen built and leased to people throughout the state. low-inco- The first CROWN homes were built in rural Utah communities that des- perately needed quality, affordable housing in order to attract new employers. But as Salt Lake City and its suburbs expanded, the Utah Housing Finance Agency (UHFA) recognized Affordable Country Living in the Heart of the City! ANA5AZI REALTY, INC 755 N. Main, Moab UT 84532 the need for better housing in deteriorating urban neighborhoods. The newest CROWN project is part of Wasatch Commons, a unique community located in the Glendale area of Salt Lake. Through CROWN financing, five homes were built and leased at low monthly rents to families who can opt to buy them after 15 years cost. The at development creates a pleasant setting low-co- st condo-minium-sty- below-mark- et y and multiple-un- it dwellings built around a common community includes space. The walk-iparking on either side, a center lawn, and common house", which provides a space for meetings, social activities, and composed of single-familn The five CROWN condominiums develare situated within the opment located at 1411 South Utah Street. They include one 1 bedroom condo, which rents for $335.00 a units renting month; three at $411.00 a month; and one 3 bedroom condo renting at $480.00 a month. The units cost between $86,000 and $140,000 to construct. 26-un- adjacent to beautiful Mi! X 50' Po1 1 shade trees Custom maple cabinets -- Refrigerated air conditioning Offers you ttR ofthese quality features: - " Bj imnjwnju,inpi ip.. 9' klL The CROWN concept is The Utah Houssimple but unique. ing Finance Agency uses federal tax credits to help finance the construction and rehabilitation of residential housing for people earning less than half the area median income. Through partnerships with local governments, rent-to-ow- i vjhu-yj- b 1 , V'y, "3Ly - it -- fot,h'e1 00-year-- le 4th East and Drive, across from Dave's Corner Market n housing authorities, redevelopment agencies, and businesses, UHFA purd or dilapidated chases lots and builds quality, homes or condominiums on them. In addition to revitalizing neglected under-utilize- single-famil- Most AFFORDABLE TOWNHOMES IN Moab! y lots, CROWN offers home ownership opportunities to those who or un-use- d are struggling with rental rates, but cannot afford the down payment and closing costs as- ever-increasi- 888-424-48- 435-259-74- www.anasazirealty.com email: anasazilasal.net sociated with a standard mortgage loan. CROWN loans have a low monthly rental fee which helps pay down the principal on a mortgage loan, allowing the renter to purchase cost after the home at below-mark- 15 et years. CROWN is unique in that everyone involved benefits - the community, the investors and the tenants." explained William H. Erickson, UHFA Executive Director. CROWN homes enhance and stabilize the neighborhood, and make home ownership a reality for many families, single parents, senior citizens and others who never thought they could afford to buy a home. Financial sponsors realize a return on their investment when the homes convert from a lease arrangement to permanent ownership." hard-workin- g American Express Centurion Bank has sponsored several CROWN housing projects, including the recent one in Glendale. American Express is extremely pleased to be involved with the revitalization of Salt Lake City neighborhoods through the CROWN said Jane Shock, Vice program, of President Community Development for American Express. Other financial sponsors of Wasatch Commons include the Salt Lake City Trust Fund, Olene Walker Housing Trust Fund, and Wasatch Inc. Wasatch has assumed ownership and management of the CROWN homes with UHFA permanent financing. The Utah Housing Finance Agency is a public agency that finances and develops affordable housing throughout the state. UHFA is totally and receives no tax money or other appropriations from the state. Established by the Utah State Legislature in 1975, UHFA has financed the purchase of more than 42,000 homes and 13,000 rental units for low- - and moderate-incom- e families in all areas of Utah. For information on CROWN or other prd-vidi- self-supporti- UHFA housing programs, call e or toll-fre- Kevin and Julianne Fitzgerald are proud to announce they are now accepting contracts on Phase 2 of Noah's newest residential community. Orc Level Fleer Plan Vaulted Ceiling Clubhouse with Kitchen Two and Three Bedroom Units Swimming Poul Hot TuhExercise Room Daily Open House Moab Realty at 800.897.7325 - 435.259.6050 - www.rimvillage.com Spanish Valley Nursery & Greenhouse Thu b ( great opportunity to own your own established busness n the Moab area1 Sale by owner ndudes business, land and private residence Asking Price $245,000, not nctudng nventory Please cal 4 anytime tor more formation or for an appontment Or check out our website at www fourcomered comspamshvalleynursery |