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From its existence, the Utah Housing Corporation has provided financing for more than 65,000 Utah home buyers, 22,500 affordable rental units, and over 7,200 special needs units of housing. [citation needed] To fund itself, the Utah Housing Corporation uses bonds and mortgage-backed securities. UHC issued its very first bond in 1977.
In 2015, Kitchen was elected to represent Council District 4 in Salt Lake City [10] where he led the effort to create a historic $21 million fund to create affordable housing in October 2016. [11] He also worked to expand housing options in Salt Lake City with an update to the Accessory Dwelling Unit/Mother-in-law ordinance in 2018. [ 12 ]
The National Housing Trust Fund was passed as part of the Housing and Economic Recovery Act of 2008. In 2016, the trust fund started providing grants to states to increase the supply of rental housing for extremely low income households. [9] NLIHC continues to advocate for increased financial support to the National Housing Trust Fund. [10]
The LIHTC provides funding for the development costs of low-income housing by allowing an investor (usually the partners of a partnership that owns the housing) to take a federal tax credit equal to a percentage (either 4% or 9%, for 10 years, depending on the credit type) of the cost incurred for development of the low-income units in a rental housing project.
Most of the literature on affordable housing refers to mortgages and number of forms that exist along a continuum – from emergency shelters, to transitional housing, to non-market rental (also known as social or subsidized housing), to formal and informal rental, indigenous housing, and ending with affordable home ownership.
Looking for housing? Realtor groups have launched a website of active rental properties around the state in Helene’s aftermath. What to know.
The Home Energy Assistance Target (H.E.A.T.) program is the State of Utah’s program through which funds are distributed to the target population.This program is specifically administered by the state and various Associations of Governments (AOG).
Enjoy a classic game of Hearts and watch out for the Queen of Spades!