Proposed Resolution - 7/4/2021REDEVELOPMENT AGENCY OF SALT LAKE CITY
RESOLUTION NO. _______________
FY 2021-22 Affordable Housing Funding Priorities
RESOLUTION OF THE BOARD OF DIRECTORS OF THE REDEVELOPMENT AGENCY
OF SALT LAKE CITY ADOPTING HOUSING FUNDING PRIORITIES FOR FISCAL YEAR
2021-22
WHEREAS, on February 9, 2021 the Board of Directors of the Redevelopment Agency
of Salt Lake City (“Board”) confirmed approval of the Housing Funds Allocation Policy (“Funds
Policy”) which establishes polices with respect to dedicating and directing resources for the
development and preservation of housing by funding source (“Housing Funds”).
WHEREAS, the Funds Policy provides that annually, prior to the annual budget process,
the RDA shall present to the Board a Housing Development Funding Strategy (“Funding
Strategy”).
WHEREAS, the Funding Strategy shall include a projected amount of revenue to be
allocated to the Housing Funds, proposed funding allocations for housing activities, and
proposed funding priorities (“Funding Priorities”) for the upcoming fiscal year.
WHEREAS, pursuant to the Funds Policy, the Board shall consider the Funding Strategy
as part of the annual budget adoption process.
WHEREAS, on March 23, 2021 the Board adopted the Housing Development Loan
Program Policy (“HDLP Policy”) to create a program to centralize the application, underwriting,
and approval process across all funding sources, providing a one-stop-shop for community
partners to access resources for the development and preservation of affordable housing.
WHEREAS, the HDLP Policy provides that the annual Funding Priorities, as proposed
through the Funding Strategy, shall be subject to approval by the Board on an annual basis.
WHEREAS, the Board desires to adopt Funding Priorities to direct resources for the
development of affordable housing through the HDLP for fiscal year 2021-22.
NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE
REDEVELOPMENT AGENCY OF SALT LAKE CITY, as follows:
Fiscal Year 2021-22 Affordable Housing Funding Priorities
1. FAMILY HOUSING: Provide opportunities for families to enjoy the many benefits of
urban living by encouraging the development of housing that is more conducive to larger
household sizes.
2. TARGET POPULATIONS: Expand the availability of units for extremely low-income
households, thereby providing housing options for individuals or families that are
homeless or at risk of homelessness.
3. NEIGHBORHOOD SAFETY: Utilize the development of housing as a method to
remove blight, reduce crime, revitalize neighborhoods, and stabilize communities.
4. MISSING MIDDLE & UNIQUE HOUSING TYPES: Promote an array of scale of
project types to diversify the City’s housing stock/forms and provide more affordable
living options for residents.
5. HOMEOWNERSHIP: Create opportunities for those who have historically rented in the
community to build wealth and establish permanent roots through homeownership.
6. SUSTAINABILITY: Achieve green building and energy conservation standards to lower
housing expenses, conserve resources, and promote resiliency.
7. EXPAND OPPORTUNITY: Provide for Neighborhoods of Opportunity by promoting
the economic diversity of the housing stock within neighborhoods.
8. NEIGHBORHOOD IMPACT: Encourage housing that is high-quality, enduring, and that
contributes to neighborhood context and livability through architectural and urban design
best practices.
9. TRANSPORTATION OPPORTUNITIES: Promote a multimodal transportation network
and ensure convenient and equitable access to a variety of transportation options.
10. HISTORIC PRESERVATION/ADAPTIVE REUSE: Encourage the preservation and/or
reuse of buildings to preserve the character of neighborhoods.
11. COMMERCIAL VITALITY: Foster a mix of land uses and unique neighborhood
business districts that adequately meet the local community’s needs.
12. PUBLIC ART: Promote cultural expression and add to the experience and value of the
built environment through art that is publicly visible or accessible for all to experience.
13. FUND LEVERAGING: Maximize impact by leveraging funds with the private market
and with other available public resources.
Passed by the Board of Directors of the Redevelopment Agency of Salt Lake City, this _______
day of ________________, 2021.
________________________________
Ana Valdemoros, Chair
Approved as to form: __________________________________
Salt Lake City Attorney’s Office
Allison Parks
Date:____________________________
The Executive Director:
____ does not request reconsideration
____ requests reconsideration at the next regular Agency meeting.
________________________________
Erin Mendenhall, Executive Director
Attest:
________________________
City Recorder
April 15, 2021