If you are interested in purchasing, remodeling, selling, or doing anything with your home and you live in Park City city limits, you are eligible to apply for funds. If funding is approved, you will enter into a Notice of Deed Restriction Purchase with Park City Municipal Corporation.  

The City’s goal is to maintain and sustain community for residents, for both long term residents and long term rentals. When you Deed Restrict your property, you help to achieve this goal for the community, and the funding may be used in any way.  

A Deed Restriction is an agreement that restricts the use of the property. The Deed Restriction for the Live Local Park City program is recorded in exchange for funding.

The Deed Restriction remains with the property for all future sales.

Yes, you may rent the unit to anyone who will use the property as their primary residence.

The City and Advisory Committee will use the following methods to determine fair value of your property:

• Using comparisons from two properties side by side property values from most recent sale
• Review County Assessor recent sale information for similar properties
• Schedule an appraisal in case of a property purchase
• Determined through owner and Advisory Committee negotiation

Amongst other factors, the committee will evaluate:

• if the property is in a highly walkable area, or is easily accessible to convenient transit
• if the property furthers one or more of the Park City Vision 2020 goals
• if the property demonstrates demand within the housing market for the product type (studio, townhome, single family home)
• if the price per square foot by unit type is in line with market conditions