HomeMy WebLinkAbout008 of 2026 - Housing Development Funding Strategy - Annual Priorities FY 2026-27SALT LAKE CITY COMMUNITY REINVESTMENT AGENCY
RESOLUTION NO. 08 of 2026
FY 2026-27 Affordable Housing Funding Priorities
RESOLUTION OF THE BOARD OF DIRECTORS OF THE SALT LAKE CITY COMMUNITY
REINVESTMENT AGENCY ADOPTING HOUSING FUNDING PRIORITIES FOR FISCAL
YEAR 2026-27
WHEREAS, the Board of Directors of the Salt Lake City Community Reinvestment
Agency (Board) has adopted the Housing Funds Allocation Policy and the Housing Development
Loan Program Policy, which provide that the Salt Lake City Community Reinvestment Agency
(CRA) will annually present to the Board an overall funding strategy and specific funding
priorities (Funding Priorities) for how housing monies should be allocated to the housing funds
and housing loan program for the upcoming fiscal year.
WHEREAS, the Housing Development Loan Program Policy provides that the specific
Funding Priorities shall be subject to approval by the Board.
WHEREAS, the Board desires to adopt the Funding Priorities identified in this
resolution to direct resources for the development of affordable housing for fiscal year 2026-27.
NOW, THEREFORE, BE IT RESOLVED that the Board of Directors of the Salt Lake
City Community Reinvestment Agency hereby adopt following Funding Priorities for fiscal year
2026-27:
Funding Priority Objective
Deeply Affordable Housing*
Expand the availability of units for extremely
low-income households at 30% of the area
median income (AMI) or less, thereby
providing housing options for individuals or
families that are homeless or at risk of
homelessness.
Family Housing with Amenities for
Children*
Provide opportunities for families to enjoy the
benefits of urban living by encouraging the
development of housing that supports larger
household sizes, that have at least three
bedrooms, and include family-oriented
amenities.
Wealth Building Opportunity Facilitate the development of residential units
targeting low to moderate income households
earning up to 120% of the AMI to build wealth
through various pathways such as
homeownership, supplemental income
opportunities, stipends for renters, cooperative
housing, and other wealth building models.
Expanding Opportunity Provide affordable housing in areas with positive
social conditions that drive health as identified in
the Utah Healthy Places Index Map.
Neighborhood Services and
Commercial Spaces
Promote an array of neighborhood services and
commercial spaces that support the
community, such as daycares, restaurants, and
retail spaces.
*These represent threshold requirement for Housing Development Loan Program application. Deeply
Affordable Housing requires at least 20% of units to be affordable at 30% of the AMI or less. Family
Housing with Amenities for Children requires that at least 20% of the units be affordable to households
earning 60% of the AMI.
Passed by the Board of Directors of the Salt Lake City Community Reinvestment
Agency, this 14th day of April 2026.
________________________________
Dan Dugan, Chair
The Executive Director:
____ does not request reconsideration
____ requests reconsideration at the next regular Agency meeting.
________________________________
Erin Mendenhall, Executive Director
Attest:
________________________
City Recorder
Jennifer Huntsman, Senior City Attorney
Jennifer Huntsman (Apr 27, 2026 11:37:12 MDT)
Jennifer Huntsman
3/27/2026
Daniel Dugan (Apr 27, 2026 12:11:45 MDT)
Erin Mendenhall (Apr 28, 2026 15:59:33 MDT)
4
CRA Resolution 08 of 2026 - Housing
Development Funding Strategy - Annual
Priorities FY 2026-27
Final Audit Report 2026-04-28
Created:2026-04-27
By:STEPHANIE ELLIOTT (STEPHANIE.ELLIOTT@slc.gov)
Status:Signed
Transaction ID:CBJCHBCAABAAGgOc7lWcaYkbrJ2IN5rfL3v97VaoRzG-
"CRA Resolution 08 of 2026 - Housing Development Funding Str
ategy - Annual Priorities FY 2026-27" History
Document created by STEPHANIE ELLIOTT (STEPHANIE.ELLIOTT@slc.gov)
2026-04-27 - 5:06:50 PM GMT
Document emailed to jennifer.huntsman@slc.gov for signature
2026-04-27 - 5:08:19 PM GMT
Email viewed by jennifer.huntsman@slc.gov
2026-04-27 - 5:36:28 PM GMT
Signer jennifer.huntsman@slc.gov entered name at signing as Jennifer Huntsman
2026-04-27 - 5:37:10 PM GMT
Document e-signed by Jennifer Huntsman (jennifer.huntsman@slc.gov)
Signature Date: 2026-04-27 - 5:37:12 PM GMT - Time Source: server
Document emailed to Daniel Dugan (daniel.dugan@slc.gov) for signature
2026-04-27 - 5:37:14 PM GMT
Email viewed by Daniel Dugan (daniel.dugan@slc.gov)
2026-04-27 - 6:11:36 PM GMT
Document e-signed by Daniel Dugan (daniel.dugan@slc.gov)
Signature Date: 2026-04-27 - 6:11:45 PM GMT - Time Source: server
Document emailed to Erin Mendenhall (erin.mendenhall@slc.gov) for signature
2026-04-27 - 6:11:47 PM GMT
Email viewed by Erin Mendenhall (erin.mendenhall@slc.gov)
2026-04-28 - 6:20:08 AM GMT
Document e-signed by Erin Mendenhall (erin.mendenhall@slc.gov)
Signature Date: 2026-04-28 - 9:59:33 PM GMT - Time Source: server
Document emailed to Keith Reynolds (Keith.Reynolds@slc.gov) for signature
2026-04-28 - 9:59:36 PM GMT
Email viewed by Keith Reynolds (Keith.Reynolds@slc.gov)
2026-04-28 - 10:25:51 PM GMT
Document e-signed by Keith Reynolds (Keith.Reynolds@slc.gov)
Signature Date: 2026-04-28 - 10:26:17 PM GMT - Time Source: server
Agreement completed.
2026-04-28 - 10:26:17 PM GMT