SALT LAKE CITY, UT – December 14, 2010 – (RealEstateRama) — The Utah Permanent Community Impact Board (CIB) approved a finance package totaling $573,000 to the Wayne County Municipal Building Authority during a board meeting held on December 10.
The funding was awarded as a $473,000 loan at a 2.5 percent interest rate to be paid in 10 years and a $100,000 grant. The funding will be used to purchase property adjacent to the existing courthouse. The county will utilize the two buildings on the purchased property to house county employees.
“The purchase of these two buildings solves the need for more office space at the courthouse in Loa,” said CIB board member and Sanpete County Commissioner Claudia Jarrett, who represents the Six County Association of Governments. “Since a new courthouse isn’t projected for another five years, acquiring the adjacent buildings benefit the county by giving them room to expand while remaining near the aging courthouse.”
The Community Impact Board awards grants and low-interest loans to cities, towns and counties impacted by mining and the extraction of oil and gas on federal land. Projects funded by the CIB benefit rural Utah by creating safer, more livable communities. The program is managed by the Division of Housing and Community Development under the Utah Department of Community and Culture.
Shad J. West
shadwest (at) utah (dot) gov