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Redevelopment Agency approves $400,000 for NeighborWorks Salt Lake to bolster homebuying and repairs in Murray
Summary
The Redevelopment Agency approved a $400,000 contribution to NeighborWorks Salt Lake for down-payment assistance and home-improvement loans and grants, with a $35,000 administrative cost cap; the funding aims to support roughly 25 loans and grants for Murray households in FY25–26.
The Murray Redevelopment Agency voted unanimously to approve a $400,000 contribution to NeighborWorks Salt Lake to expand down-payment assistance and home-improvement programs for qualifying Murray households.
Elvaughn Ferrell, presenting the proposal to the RDA, said the package splits the $400,000 evenly — $200,000 for down-payment assistance and $200,000 for home-improvement loans and grants — and caps administrative costs at $35,000 to maximize funds reaching recipients. "Our goal was to ... make sure as much of the program funds that we're providing are going towards those recipients," Ferrell said. He said the allocation would enable about 12 down-payment assistance loans and 13 home-improvement grants this fiscal year, for a total of 25 loans and grants.
Board members asked whether the $35,000 administrative cap comes from the same $400,000 allocation; Ferrell confirmed it does. Council members also asked about the RDA fund balance and specific residency restrictions; Ferrell said down-payment assistance is restricted to buyers purchasing homes in Murray and home-improvement assistance is for current Murray homeowners and noted that staff worked with NeighborWorks to align administrative costs with the standing partnership agreement.
A motion to approve the resolution was made and seconded; during roll call the members present voted in favor and the motion passed unanimously. The resolution authorizes the redevelopment agency to execute the agreement with NeighborWorks Salt Lake to provide the stated funds and administrative cap.
The RDA packet included the proposed agreement language and the allocation breakdown. NeighborWorks staff in the meeting (including Bryce Garner) were thanked by Ferrell for coordinating the program. The agency did not provide an itemized projection of expected revenue from NeighborWorks’ single-family development during the discussion; Ferrell said those numbers could be provided later.
