Redevelopment Agency of Salt Lake City releases $10 million to go toward affordable housing projects

Local News

SALT LAKE CITY, Utah(News4Utah) Right now, Salt Lake City is facing a serious housing shortage. That’s why Salt Lake is making millions of dollars available for more affordable housing projects. Tammy Hunsaker, Project Manager, and Amanda Holty, Communications and Outreach Manager for the Redevelopment Agency of Salt Lake City, joined Brian Carlson, to explain how they can help if you’re looking for a place to live.

A new Notice of Funding Availability (NOFA) will provide low cost financial assistance to incentivize the construction and preservation of affordable multi-family developments within City boundaries. the Redevelopment Agency of SLC is inviting qualified housing developers to submit proposals for these affordable residential projects.

Hunsaker described what “affordable housing” means. She says housing expenses should be less than 30% of a household’s gross monthly income.

Looking at the lower end of the median household incomes in Salt Lake County, affordable rent for a single person is around $1034 per month. For a family affordable rent is about $1476 per month. The larger goal is that, as a person’s housing needs evolve in their lifetime, they can afford to buy a house in their neighborhood and stay there. The agency wants neighborhoods that offer diverse housing options for everyone.

More affordable housing could also help our commute times. With Salt Lake City’s daytime population essentially doubling during the day, we have a very high in-commuter percentage compared to other cities. A recent survey found that 52% of those commuters would consider relocating to Salt Lake City if housing were more affordable.

It would also help with air qualities issues as well.

The RDA wants nearly half of this area to go to a “High Opportunity” neighborhood. They want a large part of these new affordable housing units to have access to jobs, healthcare, fresh food, education, transportation, and other amenities.

As the areas they build in are traditionally low-income neighborhoods, this investment strategy is intended to increase access to opportunity, and ultimately improve the lives of the all residents at every stage of life.

The new affordable units resulting from this $10 million will contribute to achieving the city-wide goals set forth by Salt Lake City Mayor Jackie Biskupski’s housing plan, “Growing SLC.”

The RDA is hosting an information meeting for developers and organizations who are interested in proposing projects on Wednesday, July 11 at 4 p.m. at the Leonardo Museum on 209 East 500 South. RDA staff will provide an overview of the application, requirements, and selection process, and will be available to answer attendee question. Full details on the program are posted on www.SLCRDA.com.

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