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CRA board approves disaster-relief loan program and reallocates budget, including $5 million for disaster loans
Summary
At a Salt Lake City Community Reinvestment Agency (CRA) meeting, the board adopted a disaster relief loan program for businesses affected by recent fires and approved a budget amendment that reallocates roughly $14.4 million across commercial assistance programs — including a $5 million allocation for the disaster relief loan program.
Salt Lake City’s Community Reinvestment Agency Board on Oct. 24 approved a new disaster relief loan program aimed at helping property owners and businesses rebuild after recent commercial fires and adopted a budget amendment reallocating existing commercial assistance funds, including $5,000,000 for the disaster program.
The board heard a staff introduction from Kate Warritt, a council staff policy analyst, who described the public hearing item as “proposed to do two things. First, it will move money to the appropriate commercial assistance loan program funds in order to fund that program. Second…prove funding for the disaster relief loan program up to $5,000,000.”
Danny Wall, director of the CRA, presented the follow-up briefing and asked the board to approve…
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