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Loan partnership set up to aid Utah downtowns

Zions Bank, Utah Heritage Foundation and Utah Main Street announced a redevelopment loan partnership designed to revitalize downtowns throughout the state.

Five pilot communities have been selected as the first recipients: Mt. Pleasant, Panguitch, Payson, Richfield and Roosevelt. Each community will receive subsidized loans to rehabilitate historic commercial buildings.

The five communities were chosen based on economic need and redevelopment projects already under way, but there are plans to expand the program to help promote downtown revitalization in other Utah communities.