Economic Development 4: Communities

COMMUNITY DEVELOPMENT WILL WORK TO PROVIDE HOUSING OPPORTUNITIES, QUALITY FACILITIES, AND INFRASTRUCTURE TO ENHANCE THE SAFETY, HEALTH, AND LIVABILITY OF COMMUNITIES STATEWIDE

Other Information:

Objective #1: Provide safe, affordable housing to eligible Utahns by preserving current affordable housing stock and investing in the construction of new affordable housing units. Community Development supports the development and preservation of units by supporting agencies with a history of successful projects and by investing in innovative projects through a competitive funding application process. Objective #2: Maximize the investment of Community Development monies by leveraging other private and public resources. Community Development partners with many outside funding sources to insure that the funds provided have the maximum leverage. The comparison of Community Development dollars spent on infrastructure projects to the total leveraged funds for Housing is $1 spent by the State for every $11 spent on a project. For the Community Impact Revolving Fund, the ratio is usually $1 of state funds spent for every $7 spent on a project. Objective #3: Improve the quality of life for citizens in communities statewide by continually investing in infrastructure projects that address the specific needs identified within the local community. Community Development manages the dedicated funds and the Housing Trust Fund to insure the funds provide Community Development the security of having funds available for both present and future needs of communities statewide. Looking forward: Community Development will continue to fund innovative projects that address the housing and infrastructure needs of communities statewide, utilizing methods that maximize the impact of the investment.

Indicator(s):

Indicator:1

Content