$10 Mil In Assistance Released To Affordable Housing
Salt Lake City — The Redevelopment Agency of Salt Lake City (RDA) is inviting qualified housing developers to apply for a portion of the available $10.7 million set aside for use on affordable housing projects. As part of a city-wide effort to increase the number of affordable housing units in Salt Lake City, this Notice of Funding Availability (NOFA) from the RDA provides low-cost financial assistance to stimulate the construction and preservation of affordable multi-family developments within City boundaries.
The RDA welcomes prospective applicants to attend one of two informational meetings on either Wednesday, July 10 at 4 p.m. or Thursday, July 18 at 9 a.m. at the City & County Building, 451 South State Street, Room 542. RDA staff will provide an overview of the application, requirements, and selection process.
The $10.7 million will be allocated through a competitive and transparent public process administered by the RDA. Qualified developers demonstrating the ability to design, build, and manage affordable and mixed-income housing are encouraged to apply with a project that meets the City’s affordable housing goals. Funding awarded through the NOFA will be added to other sources of public and private investment to maximize the impact on the community.
Under the direction of Salt Lake City Mayor Jackie Biskupski and the Salt Lake City Council, acting as the RDA Board, the RDA has made noteworthy investments in affordable housing over the past few years in an effort to combat the shortage of housing in the City. Including the current NOFA funding, the RDA has allocated $40 million in affordable housing investment over the past three years to add hundreds of affordable units to the City’s housing stock.
Proposals are due by August 16 with awards expected in September 2019. For more information or to download the NOFA, visitwww.slcrda.com/development-opportunities and the Utah Public Procurement Place website.
About the RDA:
The Redevelopment Agency of Salt Lake City works to revitalize the City’s neighborhoods and business districts to improve livability, spark economic growth, and foster authentic communities. For more information on RDA projects and programs, go to www.slcrda.com.