How new bill aims to make Utah homeownership affordable [Video]

PLEASANTVIEW, Utah — Nearly six months have passed since Utah Governor Spencer Cox signed House Bill 572 into law. Designed to make homeownership more accessible for first-time buyers, the bill sets aside $300 million in state surplus funds that developers can use to reduce the cost of entry-level homes.

Steve Waldrip, Senior Advisor to Governor Cox on Housing Affordability and Innovation, shared that the first project under HB 572 has been approved in Weber County.

After listening to local developer Jed Nilson of Nislon Homes, the WEber County Commission gave the green light. “The County Commission approved an additional 275 units. There was an original development agreement for 725 units,” explained Waldrip. “So they got a 275-unit bonus. All of those will be single-family detached homes for sale under $400,000.”

The new homes will be restricted for ten years, ensuring ownership and occupancy by individuals who live and work in …