Subcommittee hears several housing proposals, from AforDA revolving loans to Habitat and shared‑equity pilot

Multiple presenters asked the subcommittee for state support to accelerate affordable housing across Utah, describing distinct but complementary approaches.

Afforda (AforDA) representatives said their revolving land‑acquisition loan fund leverages significant private bank participation and multiplies every state dollar by an estimated 3:1 in private match. Eli Willis and Dan Adams described past performance of a 2015 $2.5 million appropriation that funded 17 land acquisitions and a new $500,000 appropriation that generated additional originations; they requested a $500,000 one‑time appropriation plus $250,000 ongoing to continue the revolving fund’s acquisitions.

Senator Vickers and Habitat for Humanity leaders described a coordinated Utah Habitat approach: local affiliates will operate through a unified advisory board and a centralized fund distribution model to support shovel‑ready builds statewide. Corinne Crowe (Habitat Greater Salt Lake) said affiliates serve 90% of the state population and asked for $5,000,000 one‑time (scalable) to move land and projects to construction.

Separately, the Sorensen Impact Fund presented a marketized shared‑equity model (Homeium / Utah Dream Fund) designed to co‑invest with buyers so median‑income households can afford homes. Presenters said they had raised $3 million in private capital and requested state seed funding; the transcript includes a clerical correction indicating the intended request amount should be $2,000,000 (not $20,000 as originally keyed). They said eligibility targets households up to 140% of AMI.

Committee members asked clarifying questions about program mechanics, selection criteria, and scalability. Lawmakers emphasized return on investment and urged continued work to align projects with shovel‑ready sites and verified performance metrics. No formal appropriations were decided during the hearing.