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Show Enterprise Review little America and Trave-Lodg- e also reported increased business this year. Snowbird lodges reported two times more business this year than last year. We had only two lodges last year. This year we have four, and weve been booked 100 percent since Christmas, the reservations cierk reported. She said the increase could be partly due to the lack of snow in California resorts. Page 2b Doom Cutbacks Spell Subsidy Utah home builders lived on loans government-subsidize- d in 1975, but they cant count on loans in 1976. low-intere- st Higher interest rates for con- struction loans are inevitable and will have a negative effect housing starts this year. That was the prediction by Hayden Calvert of Prudential Federal Savings during the Intermountain Builders Conference held Friday at the Salt Lake Hilton, Representatives from Veterans Administration and Farmers Home Administra- tion reported their agencies would have less money to lend this year than they did last had the best of possible worlds in Utah in 1975, Calvert told the group of about 100 builders. You built more housing units in 1975 in Utah than you did from 1966 to 1968 combined. You built the most single-famil- y housing units in history. The reason for this struction activity was a condis- - proportionate allocation of subsidy money, which Utah got because the housing mar-o- n ket was available. Later in 1975 we started seeing limita-mad- e tions on that money. In 1976, Utah will undoubtedly get only its proportionate share, which will be much smaller than it was in 1975, Calvert said. He predicted 1976 will bring only current market interest rates for builders. But, he added, housing costs are not increasing as fast as incomes, so you will have more qualified buyers for the houses you build. He also predicted families will want smaller houses in 1976, a trend opposite from past housing trends. Utility costs and a tendency to have smaller families will mean a Committee to Steer Block Development tenants of Holbrook of the Rafter Shop; and lst-2nd Block 70 (between and Ted Speros. Richard South and Main and State Turpin of the Redevelopment Streets) have appointed an Agency will also sit on the executive steering committee committee. and revealed current plans on Committee members will r their drawing boards. direct development planning At a block meeting with city for the block, in conjunction Redevelopment Agency offic- - with the Redevelopment ials, the group met recently. Agency. Owners At that meeting Victor Day of Crawford & Day Furniture Company revealed plans to expand operations next door. added he hoped that by sum- market for smaller houses, mer or fall the rate would he sajj t0 is 1976 will not be a better year droP This money mant than 1975, he told the group, help the low to moderatebut as Utah sees a modest income family, Stanton said. Because the Agency is still increase in the number of to t e of multiple family dwellings, we in the process provingthat it will also see higher rents in Utah Supreme Court NeW Banks the.atterpartoftheyear.he Utah Housing Finance Agency Dave Stanton, director of Utah Housing Development Division,, told the group the Utah Housing Finance Agency board has decided on price and income ceilings for single family home mortgage applicants the Agency would be able to help. He said the maximum income of an eligible family would be close to the median income for the state, which is about $12,000. He said the maximum home price would be $34,000. The Utah Housing Finance Agency is in business to sell he bonds, explained to the group. He exempt said he hoped the agency would stimulate lenders to offer loans with interest below 8.6 percent. That rate is compared to the present market rate of about 9.25 to 10 percent, he said. Stanton told the builders they may be able to get loans for building subsidized multi- pie unit dwellings at an 8.75 percent interest rate. He Vfbummesnd! Planned for court were not out of by then, we may be asking you to put some preSsure on the Utah residents may see Supreme Court to hear our two new banks organized this case, Stanton said. year in Orem City and Ogden. John G. Wells, Fred H. Stringham and E. H. Thrond-se- n have requested permission to organize a unit state The Howard Johnsons bank in Orem City. The bank, and Ramada Inn hotels rep- - which would be known as Utah 0rtg(j a 0 percent increase Valley Bank, would be business this season over ed in the vicinity of Second last winter, while Snowbird ski East and 1300 South,- A public hearing regardresort reported double last ing the organization will be years volume. busi-tax held March 30. Although our ski LA. Skabelund, Newel ness is up, other business is up, too, a Howard Johnson's King, Marvin L Steed, Linden Beckstead, Glen M . Richman, spokesperson said. A Ramada Inn spokesper- J. Owen Yeates, and R.E. son, in reporting a 15 to 20 Skabelund have requested percent increase in business, permission to organize a unit added, We have seen more state bank in Ogden. To be skiers this year than we did known as Twelfth Street Bank last year. She said the hotel of Commerce, it would be has felt no impact from new located at Twelfth Street and competing Salt Lake hotels, Washington Boulevard, A public hearing regard- j,ut, she continued, "we will fcnow m0re about that this ing the organization will be summer. held March 22. Utah Hotels, Resorts See Business Rise situat-currentl- 15-2- Charles Alcott of Prudential Federal Savings discussed plans to link Main Street to the newly built Regent Street parking terrace. Ted Speros of Lambs Grill announced that his building has been pronounced a historical monument and, with help from Washington, D.C., he plans to restore the entire front facade. Members of the executive steering committee were appointed by the group. They are: Charles Alcott, Lou Callister, Jr., of Callister, Greene and Nebeker; Victor Day, Charles Felt of Felt Electric; Louis Nielsen of Lowell Berg of Walker Bank; Dale Jackman of Zion Securities; John Loomis of Tampico Restaurant; Walker Wallace of Wallace Associates; Ronald Tracy-Collin- An Excelar digital watch Free with the purchase of any HON F suspension file. our-draw-er s, PROFITABLE ADVERTISING Our business is office supplies, not jewelry. But because we want you to see our shop, well gtve you a fine quality Excelar digital watch with the purchase of any HON four-drawsuspension file cabinet (most are $110 to $130). These watches a $59 value-feat- ure hour, minute, second, day and month visuals. Not a bad little deal...(f you need a watch. If you dont, then simply take a 20 discount. One way or the other, we want you with us. Offer is good March 15th through April 15th. er is our business. You ought to make it yours. Fred Hinckley Advertising 9 Production GsTServices o 41 1 Continental Bank Bldg. Salt Lake City, Utah 84101 Telephone 364-211- 2 office things all nufcM offlot things Suite 238. ZCMI Center, Salt Lake Also available at City, Utah 841 1 1 ALL MAKES TYPEWRITE- R- 741 SO. STATE y |