SLC CRA FY2025-2026 Residential Wealth Building Notice of Funding Availability

The Salt Lake City Community Reinvestment Agency has issued a Notice of Funding Availability (NOFA) totaling $6.4 million to support the development of affordable homeownership and wealth-building housing units targeting low- to moderate-income residents within the FY2025-2026 Residential Wealth Building Pilot Program. The initiative aims to increase the supply of affordable housing, promote economic mobility, and ensure long-term affordability through innovative models such as shared equity, community land trusts, rent-to-own, and sweat equity programs. Eligible projects must adhere to specific design, sustainability, and affordability standards, including achieving ENERGY STAR certification, recording deed restrictions for affordability periods of 30 years for rentals and five years for sales, and integrating community amenities like public art and open spaces. Applications are to be submitted electronically by December 5, 2025, via designated online portals, with detailed guidelines provided in the program’s application handbook. The evaluation process emphasizes applicant qualifications, project feasibility, neighborhood integration, sustainability, and alignment with community priorities, with a scoring system awarding up to 46 points for core criteria and additional points for strategic neighborhood and development priorities. The program requires comprehensive documentation, including site plans, proof of site control, energy design statements, financial projections, and supporting project drawings. Funding will support projects within targeted areas identified through community maps and opportunity indices, with specific emphasis on projects that serve diverse populations, including seniors and persons with disabilities. While the NOFA does not specify standard federal contract clauses or pricing structures, it establishes clear performance standards, long-term affordability commitments, and compliance requirements centered on sustainable, equitable housing development aligned with local zoning and building codes. The process involves submitting a complete proposal package through electronic portals by the deadline, with no physical submissions accepted, and includes provisions for ongoing monitoring, energy benchmarking, and adherence to community development policies.