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Affordable housing, displacement and tools RDAs can use: loans, bonds, land and policy guardrails
Summary
Salt Lake City’s RDA director reviewed the statutory 10% affordable-housing set-aside for project areas, the range of income targets that count as "affordable housing," and program-level steps RDAs can take to reduce displacement and increase transparency.
Danny Waltz, director of the Redevelopment Agency of Salt Lake City, told webinar attendees that under current Utah rules a community reinvestment project area must allocate at least 10% of tax increment for affordable housing. "That that is the bare minimum," Waltz said, and he added that cities typically have needs that exceed that statutory floor.
Nut graf: RDAs can deploy a range of financial tools — loans, grants, reimbursement agreements, bonding and property acquisition — to produce housing and other public benefits. The statutory 10% housing allocation is a minimum; agencies and…
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