The Grantsville City Council discussed the concept for a Tooele County Housing Authority project on East Clark Street during its meeting last week.
The project would create seven single-family lots in the area of 445 E. Clark Street, on which homes would be built by the county housing authority and rented to applications that meet certain criteria, such as credit scores and family size, according to DeAnn Christiansen, Tooele County Housing Authority executive director.
“They’ll be rent-to-own homes just like the ones on 316 E. Clark (Street) that we construct,” Christiansen said. “Then the renters will live there for 15 years and then whoever lives there in the end of the 15-year rental period gets first option to buy.”
Since the homes are constructed with tax credits, there is instant equity in the properties, which keep payments low, Christiansen said. Part of the rent payment each month goes to escrow, so a renter for the full 15-year term would have a substantial down payment, she said.
“There’s just so many people that can’t afford housing,” Christiansen said. “So it’s just a good concept.”
Each of the lots would be just under a quarter acre, according to the concept. The housing could be constructed without changing the zone, as the property is zoned for medium-density residential.
The renter would be responsible for mowing the lawn, watering the grass and other tasks, but the housing authority would own the property and be the landlord, Christiansen said.
With no significant issues raised by the city council, the concept will next be brought before the Grantsville City Planning Commission.