This Solicitation opportunity from Utah was posted on August 12, 2026. The submission period has ended. Browse the details below for market research, or find similar active opportunities.
SLC CRA FY2026-2027 Housing Development Loan Program Notice of Funding Availability (NOFA)
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The Salt Lake City Community Reinvestment Agency has issued a Notice of Funding Availability for the FY2026-2027 Housing Development Loan Program, offering 3 million dollars in low-cost gap financing for affordable housing developments within Salt Lake City. The funding is divided into two pools: 1.9 million dollars for general projects within city boundaries and 1.1 million dollars specifically for the Westside Community Initiative for projects west of I-15. These loans support various project scales, including multifamily buildings, rowhouses, accessory dwelling units, and detached housing, with a focus on promoting housing equity and sustainability. Loan terms generally align with permanent senior debt, reaching a maximum of 30 years for non-HUD financing and 40 years for HUD financing. Applications must be submitted electronically by 5:00 PM on September 25, 2026. The selection process involves a threshold review followed by a competitive scoring system based on project priorities and application quality. Awarded projects must adhere to the CRA Guiding Framework, comply with Salt Lake City building codes, and maintain affordability restrictions for at least 30 years or the duration of the senior financing. Security for the loans is required via promissory notes, guarantees, and deeds of trust. Additionally, projects involving displacement must provide a relocation plan complying with federal and local standards, and those meeting specific family-oriented benchmarks may qualify for a 0.5 percent interest rate reduction.
General Info
Place of Performance
UT, USASet-Aside
Timeline
Submission Closed
Organization & Contact Information
Full Description
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