Housing Supply And Service Programs

Utah Code tit. 63N, ch. 63N-24, pt. 63N-24-P3

in effect

Utah Code § 63N-24-301 Definitions.

63N-24-301. Definitions. As used in this part: (1) "Affordable housing" means housing occupied or reserved for occupancy by households whose incomes are at or below certain income requirements at rental rates affordable to such households. (2) "Board" means the Housing Board created by this part. (3) "Fund" means the Olene Walker Housing Loan Fund created by this part. (4) (a) "Housing sponsor" means a person who constructs, develops, rehabilitates, purchases, or owns a housing development that is or will be subject to legally enforceable restrictive covenants that require the housing development to provide, at least in part, affordable housing. (b) "Housing sponsor" may include: (i) a local public body; (ii) a nonprofit, limited profit, or for profit corporation; (iii) a limited partnership; (iv) a limited liability company; (v) a joint venture; (vi) a subsidiary of the Utah Housing Corporation; (vii) a cooperative; (viii) a mutual housing organization; (ix) a local government; (x) a local housing authority; (xi) a regional or statewide nonprofit housing or assistance organization; or (xii) any other entity that helps provide affordable housing. (5) "Rural" means a county in the state other than Utah, Salt Lake, Davis, or Weber. Renumbered and Amended by Chapter 393, 2026 General Session

Utah Code § 63N-24-302 Olene Walker Housing Loan Fund -- Creation -- Administration.

63N-24-302. Olene Walker Housing Loan Fund -- Creation -- Administration. (1) (a) There is created an enterprise fund known as the Olene Walker Housing Loan Fund, administered by the housing coordinator or the housing coordinator's designee. (b) The division is the administrator of the fund. (2) There shall be deposited into the fund: (a) grants, paybacks, bonuses, entitlements, and other money received by the division from the federal government to preserve, rehabilitate, build, restore, or renew housing or for other activities authorized by the fund; (b) transfers, grants, gifts, bequests, and money made available from any source to implement this part; and (c) money appropriated to the fund by the Legislature. (3) The money in the fund shall be invested by the state treasurer according to the procedures and requirements of Title 51, Chapter 7, State Money Management Act, except that all interest or other earnings derived from money in the fund shall be deposited in the fund. Renumbered and Amended by Chapter 393, 2026 General Session

Utah Code § 63N-24-303 Housing loan fund board -- Duties -- Expenses.

63N-24-303. Housing loan fund board -- Duties -- Expenses. (1) There is created the Olene Walker Housing Loan Fund Board. (2) The board is composed of 14 voting members. (a) The governor shall appoint the following members to four-year terms: (i) two members from local governments, of which: (A) one member shall be a locally elected official who resides in a county of the first or second class; and (B) one member shall be a locally elected official who resides in a county of the third, fourth, fifth, or sixth class; (ii) two members from the mortgage lending community, of which: (A) one member shall have expertise in single-family mortgage lending; and (B) one member shall have expertise in multi-family mortgage lending; (iii) one member from real estate sales interests; (iv) two members from home builders interests, of which: (A) one member shall have expertise in single-family residential construction; and (B) one member shall have expertise in multi-family residential construction; (v) one member from rental housing interests; (vi) two members from housing advocacy interests, of which: (A) one member who resides within any area in a county of the first or second class; and (B) one member who resides within any area in a county of the third, fourth, fifth, or sixth class; (vii) one member of the manufactured housing interest; (viii) one member with expertise in transit-oriented developments; (ix) one member who represents rural interests; and (x) one member who represents the interests of modular housing. (b) The housing coordinator or the housing coordinator's designee serves as the secretary of the board. (c) The members of the board shall annually elect a chair from among the voting membership of the board. (3) (a) Notwithstanding the requirements of Subsection (2), the governor shall, at the time of appointment or reappointment, adjust the length of terms to ensure that the terms of board members are staggered so that approximately half of the board is appointed every two years. (b) When a vacancy occurs in the membership for any reason, the replacement is appointed for the unexpired term. (4) (a) The board shall: (i) meet regularly, at least quarterly to conduct business of the board, on dates fixed by the board; (ii) meet twice per year, with at least one of the meetings in a rural area of the state, to provide information to and receive input from the public regarding the state's housing policies and needs; (iii) keep minutes of board meetings; and (iv) comply with the procedures and requirements of Title 52, Chapter 4, Open and Public Meetings Act. (b) Seven members of the board constitute a quorum, and the governor, the chair, or a majority of the board may call a meeting of the board. (5) The board shall: (a) review the housing needs in the state; (b) determine the relevant operational aspects of any grant, loan, or revenue collection program established under the authority of this chapter; (c) determine the means to implement the policies and goals of this chapter; (d) select specific projects to receive grant or loan money; and (e) determine how fund money shall be allocated and distributed. (6) A member may not receive compensation or benefits for the member's service, but may receive per diem and travel expenses in accordance with: (a) Section 63A-3-106; (b) Section 63A-3-107; and (c) rules made by the Division of Finance in accordance with Sections 63A-3-106 and 63A-3-107. Renumbered and Amended by Chapter 393, 2026 General Session

Utah Code § 63N-24-304 Distribution of fund money.

63N-24-304. Distribution of fund money. (1) As used in this section: (a) "Community" means the same as that term is defined in Section 17C-1-102. (b) "Income targeted housing" means the same as that term is defined in Section 17C-1-102. (2) The housing coordinator shall: (a) make grants and loans from the fund for any of the activities authorized by Section 63N-24-305, as directed by the board; (b) establish the criteria with the approval of the board by which loans and grants will be made; and (c) determine with the approval of the board the order in which projects will be funded. (3) The housing coordinator shall distribute, as directed by the board, any federal money contained in the fund according to the procedures, conditions, and restrictions placed upon the use of the money by the federal government. (4) The housing coordinator shall distribute, as directed by the board, any funds received under Section 17C-1-412 to pay the costs of providing income targeted housing within the community that created the community reinvestment agency under Title 17C, Limited Purpose Local Government Entities - Community Reinvestment Agency Act. (5) Except for federal money, money received under Section 17C-1-412, and money appropriated for use in accordance with Section 63N-24-404, the housing coordinator shall distribute, as directed by the board, money in the fund according to the following requirements: (a) the housing coordinator shall distribute at least 70% of the money in the fund to benefit persons whose annual income is at or below 50% of the median family income for the state; (b) the housing coordinator may use up to 6% of the revenues of the fund, including any appropriation to the fund, to offset division or board administrative expenses; (c) the housing coordinator shall distribute any remaining money in the fund to benefit persons whose annual income is at or below 80% of the median family income for the state; and (d) if the housing coordinator or the housing coordinator's designee makes a loan in accordance with this section, the interest rate of the loan shall be based on the borrower's ability to pay. (6) the housing coordinator may, with the approval of the board: (a) enact rules to establish procedures for the grant and loan process by following the procedures and requirements of Title 63G, Chapter 3, Utah Administrative Rulemaking Act; and (b) service or contract, under Title 63G, Chapter 6a, Utah Procurement Code, for the servicing of loans made by the fund. Renumbered and Amended by Chapter 393, 2026 General Session

Utah Code § 63N-24-305 Activities authorized to receive fund money -- Powers of the state housing coordinator.

63N-24-305. Activities authorized to receive fund money -- Powers of the state housing coordinator. At the direction of the board, the housing coordinator may: (1) provide fund money to any of the following activities: (a) the acquisition, rehabilitation, or new construction of low-income housing units; (b) matching funds for social services projects directly related to providing housing for special-need renters in assisted projects; (c) the development and construction of accessible housing designed for low-income persons; (d) the construction or improvement of a shelter or transitional housing facility that provides services intended to prevent or minimize homelessness among members of a specific homeless subpopulation; (e) the purchase of an existing facility to provide temporary or transitional housing for the homeless in an area that does not require rezoning before providing such temporary or transitional housing; (f) the purchase of land that will be used as the site of low-income housing units; (g) the preservation of existing affordable housing units for low-income persons; (h) the award of predevelopment grants in accordance with Section 63N-24-308; (i) the creation or financial support of a mediation program for landlords and tenants designed to minimize the loss of housing for low-income persons, which program may include: (i) funding for the hiring or training of mediators; (ii) connecting landlords and tenants with mediation services; and (iii) providing a limited amount of gap funding to assist a tenant in making a good faith payment towards attorney fees, damages, or other costs associated with eviction proceedings or avoiding eviction proceedings; and (j) other activities that will assist in minimizing homelessness or improving the availability or quality of housing in the state for low-income persons; and (2) do any act necessary or convenient to the exercise of the powers granted by this part or reasonably implied from those granted powers, including: (a) making or executing contracts and other instruments necessary or convenient for the performance of the housing coordinator and board's duties and the exercise of the housing coordinator and board's powers and functions under this part, including contracts or agreements for the servicing and originating of mortgage loans; (b) procuring insurance against a loss in connection with property or other assets held by the fund, including mortgage loans, in amounts and from insurers it considers desirable; (c) entering into agreements with a department, agency, or instrumentality of the United States or this state and with mortgagors and mortgage lenders for the purpose of planning and regulating and providing for the financing and refinancing, purchase, construction, reconstruction, rehabilitation, leasing, management, maintenance, operation, sale, or other disposition of residential housing undertaken with the assistance of the division under this part; (d) proceeding with a foreclosure action, to own, lease, clear, reconstruct, rehabilitate, repair, maintain, manage, operate, assign, encumber, sell, or otherwise dispose of real or personal property obtained by the fund due to the default on a mortgage loan held by the fund in preparation for disposition of the property, taking assignments of leases and rentals, proceeding with foreclosure actions, and taking other actions necessary or incidental to the performance of the housing coordinator and board's duties; and (e) selling, at a public or private sale, with public bidding, a mortgage or other obligation held by the fund. Renumbered and Amended by Chapter 393, 2026 General Session

Utah Code § 63N-24-306 Authority of the state housing coordinator.

63N-24-306. Authority of the state housing coordinator. The housing coordinator, with the approval of the board, may grant or lend fund money to a housing sponsor. Renumbered and Amended by Chapter 393, 2026 General Session

Utah Code § 63N-24-307 Application process and priorities.

63N-24-307. Application process and priorities. (1) (a) In each calendar year that money is available from the fund for distribution by the housing coordinator under the direction of the board, the housing coordinator shall, at least once in that year, announce a grant and loan application period by sending notice to interested persons. (b) The housing coordinator shall accept applications that are received in a timely manner. (2) The housing coordinator shall give priority to applications for projects and activities in the following order: (a) first, to applications for projects and activities intended to minimize homelessness; (b) second, to applications for projects and activities that use existing privately owned housing stock, including privately owned housing stock purchased by a nonprofit public development authority; and (c) third, to all other applications. (3) Within each level of priority described in Subsection (2), the housing coordinator shall give preference to applications that demonstrate the following: (a) a high degree of leverage with other sources of financing; (b) high recipient contributions to total project costs, including allied contributions from other sources such as professional, craft, and trade services and lender interest rate subsidies; (c) high local government project contributions in the form of infrastructure improvements, or other assistance; (d) projects that encourage ownership, management, and other project-related responsibility opportunities; (e) projects that demonstrate a strong probability of serving the original target group or income level for a period of at least 15 years; (f) projects where the applicant has demonstrated the ability, stability, and resources to complete the project; (g) projects that appear to serve the greatest need; (h) projects that provide housing for persons and families with the lowest income; (i) projects that promote economic development benefits; (j) projects that align with a local government plan to address housing and homeless services; and (k) projects that would mitigate or correct existing health, safety, or welfare problems. (4) The housing coordinator may give consideration to projects that increase the supply of accessible housing. Renumbered and Amended by Chapter 393, 2026 General Session

Utah Code § 63N-24-308 Predevelopment grants.

63N-24-308. Predevelopment grants. (1) The housing coordinator may, under the direction of the board, award one or more predevelopment grants to a nonprofit or for-profit entity: (a) in preparation for a project that: (i) involves the construction of moderate income housing units; and (ii) is located within: (A) a city of the fifth or sixth class, or a town, in a rural area of the state; or (B) any municipality or unincorporated area in a county of the fourth, fifth, or sixth class; and (b) in an amount of no more than $50,000 per project. (2) The housing coordinator shall, under the direction of the board, award each predevelopment grant in accordance with the provisions of this section and the provisions related to grant applications, grant awards, and reporting requirements in this part. (3) The recipient of a predevelopment grant: (a) may use grant funds to offset the predevelopment funds needed to prepare for the construction of low-income housing units, including market studies, surveys, environmental and impact studies, technical assistance, and preliminary architecture, engineering, or legal work; and (b) may not use grant funds to pay for staff salaries or construction costs. (4) The housing coordinator shall, under the direction of the board, prioritize the awarding of a predevelopment grant for a project that is located within: (a) a county of the fifth or sixth class; and (b) an area that has underdeveloped infrastructure, as demonstrated by at least two of the following: (i) limited or no availability of natural gas; (ii) limited or no availability of a sewer system; (iii) limited or no availability of broadband Internet; (iv) unpaved residential streets; or (v) limited local construction professionals, vendors, or services. Renumbered and Amended by Chapter 393, 2026 General Session

Utah Code § 63N-24-309 Annual accounting.

63N-24-309. Annual accounting. (1) The housing coordinator shall monitor the activities of recipients of grants and loans issued under this part on a yearly basis to ensure compliance with the terms and conditions imposed on the recipient by the housing coordinator with the approval of the board or by this part. (2) Beginning July 1, 2021, an entity that receives any money from the fund under this part shall provide the housing coordinator with an annual accounting of how the money the entity received from the fund has been spent. (3) The housing coordinator shall make an annual report to the board accounting for the expenditures authorized by the board. (4) The board shall submit a report to the office for inclusion in the annual written report described in Section 63N-1a-306: (a) accounting for expenditures authorized by the board; and (b) evaluating the effectiveness of the program. Renumbered and Amended by Chapter 393, 2026 General Session

Utah Code § 63N-24-310 Economic Revitalization and Investment Fund.

63N-24-310. Economic Revitalization and Investment Fund. (1) There is created an enterprise fund known as the "Economic Revitalization and Investment Fund." (2) The Economic Revitalization and Investment Fund consists of money from the following: (a) money appropriated to the account by the Legislature; (b) private contributions; (c) donations or grants from public or private entities; and (d) money returned to the division under Section 63N-24-314. (3) The Economic Revitalization and Investment Fund shall earn interest, which shall be deposited into the Economic Revitalization and Investment Fund. (4) The housing coordinator may distribute money from the Economic Revitalization and Investment Fund to one or more projects that: (a) include affordable housing units for households whose income is no more than 30% of the area median income for households of the same size in the county or municipality where the project is located; and (b) have been approved by the board in accordance with Section 63N-24-312. (5) (a) A housing sponsor may apply to the division to receive a distribution in accordance with Subsection (4). (b) The application shall include: (i) the location of the project; (ii) the number, size, and tenant income requirements of affordable housing units described in Subsection (4)(a) that will be included in the project; and (iii) a written commitment to enter into a deed restriction that reserves for a period of 30 years the affordable housing units described in Subsection (5)(b)(ii) or the affordable housing unit equivalent for occupancy by households that meet the income requirements described in Subsection (5)(b)(ii). (c) The commitment in Subsection (5)(b)(iii) shall be considered met if a housing unit is: (i) occupied or reserved for occupancy by a household whose income is no more than 30% of the area median income for households of the same size in the county or municipality where the project is located; or (ii) occupied by a household whose income is no more than 60% of the area median income for households of the same size in the county or municipality where the project is located if that household met the income requirement described in Subsection (4)(a) when the household originally entered into the lease agreement for the housing unit. (d) In accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, the division may make additional rules providing procedures for a person to apply to the division to receive a distribution described in Subsection (4). (6) The housing coordinator may expend up to 3% of the revenues of the Economic Revitalization and Investment Fund, including any appropriation to the Economic Revitalization and Investment Fund, to offset division or board administrative expenses. Renumbered and Amended by Chapter 393, 2026 General Session

Utah Code § 63N-24-311 Rural Housing Fund.

63N-24-311. Rural Housing Fund. (1) There is created an enterprise fund known as the "Rural Housing Fund." (2) The Rural Housing Fund consists of money from the following: (a) money appropriated to the account by the Legislature; (b) private contributions; (c) donations or grants from public or private entities; and (d) money returned to the division under Section 63N-24-314. (3) The Rural Housing Fund shall earn interest, which shall be deposited into the Rural Housing Fund. (4) Subject to appropriation, the housing coordinator may expend funds in the Rural Housing Fund to provide loans for projects that: (a) are located within: (i) a county of the third, fourth, fifth, or sixth class; or (ii) a municipality in a county of the second class with a population of 10,000 or less; (b) include moderate income housing units; and (c) have been approved by the board in accordance with Section 63N-24-312. (5) (a) A housing sponsor may apply to the division to receive a loan under this section. (b) An application under Subsection (5)(a) shall specify: (i) the location of the project; (ii) the number, size, and income requirements of moderate income housing units that will be included in the project; and (iii) a written commitment to enter into a deed restriction that reserves for a period of 50 years the moderate income housing units described in Subsection (5)(b)(ii). (c) A commitment under Subsection (5)(b)(iii) shall be considered satisfied if a housing unit is occupied by a household that met the income requirement for moderate income housing when the household originally entered into the lease agreement for the housing unit. (d) In accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, the division may make rules establishing procedures and requirements for housing sponsors to apply for and receive loans under this section. (6) The housing coordinator may expend up to 3% of the revenues of the Rural Housing Fund, including any appropriation to the Rural Housing Fund, to offset division or board administrative expenses. Renumbered and Amended by Chapter 393, 2026 General Session

Utah Code § 63N-24-312 Housing loan fund board approval.

63N-24-312. Housing loan fund board approval. (1) The board shall review the project applications described in Sections 63N-24-310 and 63N-24-311. (2) (a) The board may approve a project that meets the requirements of Section 63N-24-310 to receive funds from the Economic Revitalization and Investment Fund. (b) The board may approve a project that meets the requirements of Section 63N-24-311 to receive funds from the Rural Housing Fund. (3) The board shall give preference to projects: (a) that include significant additional or matching funds from an individual, private organization, or local government entity; (b) that include significant contributions by the applicant to total project costs, including contributions secured by the applicant from other sources such as professional, craft, and trade services and lender interest rate subsidies; (c) with significant local government contributions in the form of infrastructure, improvements, or other assistance; (d) where the applicant has demonstrated the ability, stability, and resources to complete the project; (e) that will serve the greatest need; (f) that promote economic development benefits; (g) that allow integration into a local government housing plan; (h) that would mitigate or correct existing health, safety, or welfare concerns; or (i) that remedy a gap in the supply of and demand for affordable housing. Renumbered and Amended by Chapter 393, 2026 General Session

Utah Code § 63N-24-313 Activities authorized to receive account money.

63N-24-313. Activities authorized to receive account money. The housing coordinator may distribute funds from the Economic Revitalization and Investment Fund and the Rural Housing Fund for any of the following activities undertaken as part of an approved project: (1) the acquisition, rehabilitation, or new construction of a building that includes moderate income housing units; (2) the purchase of land for the construction of a building that will include moderate income housing units; or (3) pre-development work, including planning, studies, design, and site work for a building that will include moderate income housing units. Renumbered and Amended by Chapter 393, 2026 General Session

Utah Code § 63N-24-314 Repayment of funds.

63N-24-314. Repayment of funds. (1) Upon the earlier of 30 years from the date an approved project is placed in service or the sale or transfer of the affordable housing units acquired, constructed, or rehabilitated as part of an approved project funded under Subsection 63N-24-313(1), the housing sponsor shall remit to the division: (a) the total amount of money distributed by the division to the housing sponsor for the project; and (b) an additional amount of money determined by contract with the division prior to the initial disbursement of money. (2) Any claim arising under Subsection (1) is a lien against the real property funded under this chapter. (3) (a) Any money returned to the division under Subsection (1) from a housing sponsor that received funds from the Economic Revitalization and Investment Fund shall be deposited in the Economic Revitalization and Investment Fund. (b) Any money returned to the division under Subsection (1) from a housing sponsor that received funds from the Rural Housing Fund shall be deposited in the Rural Housing Fund. Renumbered and Amended by Chapter 393, 2026 General Session

Utah Code § 63N-24-315 Annual accounting.

63N-24-315. Annual accounting. (1) The housing coordinator shall monitor the activities of recipients of funds from the Economic Revitalization and Investment Fund and the Rural Housing Fund on a yearly basis to ensure compliance with the terms and conditions imposed on the recipient by the housing coordinator with the approval of the board. (2) (a) A housing sponsor that receives funds from the Economic Revitalization and Investment Fund shall provide the housing coordinator with an annual accounting of how the money the entity received from the Economic Revitalization and Investment Fund has been spent and evidence that the commitment described in Section 63N-24-310 has been met. (b) A housing sponsor that receives funds from the Rural Housing Fund shall provide the housing coordinator with an annual accounting of how the money the entity received from the Rural Housing Fund has been spent and evidence that the commitment described in Section 63N-24-311 has been met. (3) The housing coordinator shall make an annual report to the board accounting for the expenditures authorized by the board under the Economic Revitalization and Investment Fund and the Rural Housing Fund. (4) The board shall submit a report to the office for inclusion in the annual written report described in Section 63N-1a-306 that includes: (a) an accounting for expenditures authorized by the board; and (b) an evaluation of the effectiveness of each program. Renumbered and Amended by Chapter 393, 2026 General Session

Utah Code § 63N-24-316 Pass-through funding agreements -- Accounting for expenditures of a housing organization.

63N-24-316. Pass-through funding agreements -- Accounting for expenditures of a housing organization. (1) As used in this section: (a) "Housing organization" means an entity that: (i) manages a portfolio of investments; (ii) is dedicated to the preservation, enhancement, improvement, and rehabilitation of affordable housing through property investment; and (iii) is controlled by a registered nonprofit. (b) "Pass-through funding" means state money appropriated by the Legislature to the division with the intent that the division grant or otherwise disburse the state money to a third party. (c) "Rural" means the same as that term is defined in Section 63N-24-301. (2) (a) This section applies to funds appropriated by the Legislature to the division for pass-through to a housing organization. (b) The division shall ensure that pass-through funding granted or distributed before May 1, 2024 to a housing organization is subject to an agreement as described in this section, either through amending existing agreements or canceling existing agreements and issuing new agreements. (3) (a) The division shall create agreements governing the use of pass-through funding as described in this section. (b) Before a housing organization may accept pass-through funding in accordance with this section, the entity shall enter into an agreement with the division governing the use of pass-through funding. (4) An agreement for pass-through funding shall require, at a minimum: (a) the housing organization match pass-through funding with private funding at no less than a 70% private, 30% state split; (b) all pass-through funding be used by the housing organization to invest in housing units that are rented at rates affordable to households with an annual income at or below 80% of the area median income for a family within the county in which the housing is located; (c) that 50% of pass-through funding be used by the housing organization to invest in housing units that are rented at rates affordable to households with an annual income at or below 50% of the area median income for a family within the county in which the housing is located; (d) that at least 30% of pass-through funding be used by the housing organization to invest in housing units that are located in a rural county; (e) that any property purchased with pass-through funding be subject to a deed restriction for a minimum of 40 years to ensure the property remains a rental property affordable to households as described in Subsection (4)(b); (f) that returns on investment generated by pass-through funding shall be reinvested by the housing organization the same as if the returns on investment are pass-through funding; and (g) that the housing organization shall provide the division with the following information at the end of each fiscal year: (i) the housing organization's annual audit, including: (A) a third-party independent auditor's findings on the housing organization's compliance with this section and the terms of the housing organization's agreement for pass-through funding; and (B) the audited financial statements for a legal entity used by the housing organization to carry out activities authorized by this section; (ii) allocation of pass-through funds by county and housing type; (iii) progress and status of funded projects; and (iv) impact of pass-through funds on the availability of affordable housing across the state and by region. (5) The division shall include in the annual written report described in Section 63N-1a-306 a report accounting for the expenditures authorized by a housing organization in accordance with an agreement with the division. Renumbered and Amended by Chapter 393, 2026 General Session

Source: Utah Office of Legislative Research and General Counsel (le.utah.gov)URL: https://le.utah.gov/xcode/Title63N/Chapter24/63N-24-P3.html?v=C63N-24-P3_2026050620260701Fetched: 10/26/2026