SALT LAKE CITY — Affordable housing received a boost of $10 million as part of the state budget passed by the Utah State Legislature in the session ending earlier this month.
These dollars will go to the Utah Housing Preservation Fund, which renovates housing to serve low-to-moderate income Utahns.
Funding from the state and private investors have helped preserve more than 2,750 units of affordable housing in Utah.
“Preserving our existing affordable housing is one of the most effective and quickest ways to impact housing affordability,” said Rep. Stephen Whyte, co-chair of the Utah Commission on Housing Affordability.
“The Utah Housing Preservation Fund is becoming a national model for public-private partnerships that are solely focused on a mission to stabilize families and communities.”
This $10 million investment from the state will be matched by private philanthropies and community-oriented banks to preserve 550 housing units over the next three years.
Those served include refugees, veterans, people experiencing homelessness.
