The CRA Board approved $8.1 million in funding for affordable housing projects and discussed future strategies, including equitable geographic distribution, wealth-building models, and refining scoring criteria to incentivize housing in underserved areas.
At a glance
Rising — being discussed more frequently. 6 mentions in the last 30 days, 2 the 60 before, 1 the 90 before that.
The city is earmarking $9.9 million for housing programs to help address the local affordability crisis.
Low-to-moderate income families and individuals in need of affordable housing options.
Projects specifically within the CBD that might have utilized these funds may not receive them.
The city is proposing to invest $9.9 million into affordable housing. This is a big deal for residents struggling with rising costs, as it focuses on deeply affordable units and family-sized housing.
Salt Lake City is setting aside millions of dollars for housing programs aimed at building wealth for renters, hoping to bridge the gap between renting and home ownership for city residents. This year’s spend outpaced last year’s inaugural outlay,...
Salt Lake City approves $6.4 million for affordable housing KSL NewsRadio
The CRA is allocating nearly $6.4 million to support two new projects aimed at increasing affordable homeownership. These projects will create new townhomes and single-family homes for middle-income households, helping them build equity.
Housing funds originally designated for the Central Business District are being transferred to a citywide secondary housing fund because no eligible projects were identified in the CBD. This allows the funds to be used for affordable housing across the city.
The council approved funding allocations for federal housing grants and local housing programs, including support for case management services.
The board is handing out $8.1 million to help build more affordable housing. They are also looking at how to make sure these projects are spread out across the city rather than clustered in one spot.
Council members acknowledged that housing affordability is a major challenge that requires daily, incremental effort rather than a single quick fix.
Salt Lake City makes another $14.4M available for affordable housing construction KSL News