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Show Page seventeen Renovation of Ogden's 25th Street should restore it to the bustling business district it once was. Ogden looks for innovative financing for 25th Street renovation Final approval of a recently completed master plan for renovation of Ogdens 25th Street as a retail business district is expected within 30 days. According to Scott Parkinson of Ogden Redevelopment Agency, the plan was compiled by a consortium of three local groups. With the final draft now written, he expects the Ogden Council to approve and publish the plan within the month. The plan details the concept of restoring the 42 buildings along the street, 41 of which were built before World War 1. Low interest loans Parkinson said the city expects to offer an innovative loan program to low-intere- st If 25th Street is added to the National Register of historic sites , it will qualify for tax benefits merchants and other businesses willing to invest in the renovation project. One such innovation, modeled after a similar program in Greenville, S.C., permits the city to subsidize interest on loans from a pool formed by local including deductions for rehabilitation and favorable depreciation allowances. banks. The citys portion of the funds would come from a federal block grant. Other funds for rehabilitating old buildings are available to property owners from low interest loan programs offered by the Department of Housing and Urban Development and administered by the Redevelopment Agency. Parkinson added, he expects the city to attempt making the district eligible for This tax increment funds. money could be used to restore the street itself, sidewalks, lighting and install landscaping and street furniture. And, Now youve got our number, Named to historic district The restoration project design will be paid for, in part, by a grant from the National Endowment for the Arts. Total ing $13,000, the grant vides half the amount, Free phone estimates Repairs by appointment Convenient downtown location for businessmen Complete auto service Brakes Transmission Muffler and exhaust Tune-up-s Front end alighment Fleet rates available. 653 So. State re- quiring the city to match the federal governments portion. This design project will be opened for bid from interested designers once the master plan is approved. Street has been named a historic district by the State of Utah, and is expected to be submitted to the National Register of Historic Places this summer for approval. Once it is entered on the national list, the property will be eligible for tax benefits including deductions for rehabilitation costs and favorable depreciation allow- Twenty-fift- h ances. The 25th Street master plan was compiled by Ron Hales, an Ogden architect. Land Design Research of Logan and Weber State College, Center for Business Training and Economic Research. X HOME EQUITY LOANS we can fix your car. pro- We buy, sell, and lend on 1st and 2nd Trust Deeds. Paid or not. CONSTRUCTION LOANS HOME IMPROVEMENT LOANS CONSOLIDATION OF DEBTS COMMERCIAL LOANS COLLATERAL LOANS TERM LOANS Call For Cash 486-587- 1 2906 SOUTH STATE ST. |