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CRA board adopts FY26–27 housing funding priorities, aligns expanding-opportunity priority with state index
Summary
The Community Reinvestment Agency board on April 14 adopted its FY2026–27 housing funding priorities, keeping five priority categories and shifting the ‘expanding opportunity’ metric to align with the Utah Healthy Places Index used in the Utah Housing Corporation QAP.
The Community Reinvestment Agency board on April 14 approved its annual housing development funding priorities for fiscal year 2026–27, adopting staff’s recommendation to align the ‘expanding opportunity’ priority with the Utah Healthy Places Index used by the Utah Housing Corporation.
CRA staff said the five priorities remain: deeply affordable housing (targeting households at 30% AMI and below), family-size housing with amenities, wealth-building opportunities (up to 120% AMI), expanding opportunity, and neighborhood services/commercial spaces. Tracy, a CRA housing staff member, said aligning the expanding-opportunity priority with the Utah Healthy Places Index will match the CRA’s evaluation framework with the state’s QAP and uses measures such as transportation, health-care access, housing and education.
Staff described how the priorities will affect existing programs: the Housing Development Loan Program (HDLP) applicants will receive higher weighted scores and interest-rate reductions when proposals meet the priorities; a residential wealth-building pilot will target smaller, homeownership-oriented projects and family-size units; and property acquisition and disposition remains a flexible tool to deliver mixed-income and preservation outcomes.
Board members asked staff whether the CRA rubric will specifically reward projects that secure state multifamily homeownership financing (a 5% set-aside described by the Utah Housing Corporation). Tracy said the board will develop a scoring rubric over the summer that could account for overlap with state funding opportunities. Staff also said a Westside Community Initiative update and fund-balance details will appear in the CRA budget report in May.
Board member Carlton moved to adopt the annual priorities; the motion was seconded and passed unanimously.
Next steps: staff said the priorities will inform the CRA’s FY26–27 budget discussions and the detailed funding numbers will be presented to the board during May’s budget review.
