SALT LAKE CITY (ABC4) — The Salt Lake City Community Reinvestment Agency (CRA) has invested $14.4 million in affordable housing funding.
The SLC Mayor’s Office shared that the funding will be used to increase access to housing. Additionally, it will create pathways to homeownership for low and moderate-income residents.
The investment includes $8 million through the Housing Development Loan Program (HDLP). $2.4 million is dedicated toward affordable units, and $6.4 million is for the Residential Wealth Building Pilot Program.
With new voting laws in effect, here’s where to go and what to know before Election Day
“These investments reflect our commitment to ensuring that everyone–regardless of income or background–can find a safe, stable, and affordable place to call home,” said Salt Lake City Mayor Erin Mendenhall. “We know that housing is at the heart of economic opportunity, and by focusing not just on affordability but on wealth building, we’re helping more residents take the next step toward long-term stability.”
HDLP and Pilot Program
Mendenhall’s office shared that the HDLP provides low-cost financial assistance to housing developers…