Utah WorkForce Housing Initiative “ Cultivating Community ” Pilot Program 2007-2009

Background In the 1996 session of the Utah State Legislature, HB 295 was passed. The statute elevated the subject of affordable housing to a new level never before seen in Utah. The law mandated that all communities and counties in the state include a housing element as part of their general plan. The law also required that communities report annually about the progress they were making in developing, adopting and implementing plans. In January 1999, a survey was taken by the State DCD and it was found that only 20% of communities had even attempted the development of a plan. Through specific legal action the courts established that communities needed to develop an adequate plan or run the risk of legal action for non-compliance. By 2002, 65% of all communities had a least prepared some semblance of a plan. There was not only a disappointing number of communities who developed the mandated plan but they displayed a lack of sophistication in making needs projects and determining alternatives. In recent years the Utah League of Cities and Towns reported that its members both urban and rural were looking for tools which would assist them in gathering the appropriate data and in receiving technical assistance to put together more comprehensive plans that included viable project out comes. In response to those calls for assistance, a partnership opportunity was structured for technical assistance providers, governmental agencies and local financial institutions to deliver a comprehensive tool-kit and hands-on assistance to meet the real challenges in Utah communities statewide. It takes strong public/private partnerships to make projects affordable. UWFHI’s goal is to lay the foundation for the creation of these partnerships on which important community directed projects can be realized. 12/30/2018

Overview What is UWFHI? Who are the Partners? UWFHI Process Model Pilot Communities Diverse Resources Proposed Timelines 12/30/2018

What is UWFHI? Broad based partnership to help support city housing planning processes, economic and essential workforce housing development across Utah New statistical software, guide book, training workshops Planning technical assistance delivery to communities/geographies that is aligned with state mandated process Baseline economic development and affordable housing analysis to support local community planning efforts Access to previously untapped financial resources from state, regional and national partners Financial Performa and partnership structuring assistance to help build needed housing stock that is identified in city plans Support to outlying areas as identified in planning processes Creation of transferable best practice models 12/30/2018

Who Are The Partners? State of Utah Utah League of Cities & Towns Governor’s Office of Planning & Budget Utah Division of Community & Culture Utah League of Cities & Towns Key Housing Industry Organizations Envision Utah Utah Financial Institutions Industrial Banks: Morgan Stanley Bank (Lead), Lehman Brothers Bank, American Express CD, Merrill Lynch Bank, UBS Bank, GE Capital, Pitney Bowes, GMAC Bank, Goldman Sachs Bank (invited partner listings) Community Banks: Bank of American Fork (Lead), Bank of Utah, The Village Bank, Barnes Bank, SunFirst Bank, Bank of Southern Utah, 1st Nat’l Bank of Layton, Central Bank (invited partner listings) State, Regional, National Partners US Dept HUD, USDA Rural Housing, Utah Housing Corporation, Rural Collaborative, Rural Community Assistance Corporation, Olene Walker Housing Loan Fund, Utah Community Reinvestment Corporation (invited partner listings) 12/30/2018

UWFHI Process Model Cultivating Community through research/Data Analysis, Creative/Cross Functional Planning, Technical Assistance, Project Development & Responsive Funding Solutions Toolbox, Demographic Software, Workshops Industrial + Community Banks OWHTF/LIHTC/UCRC/RC/RCAC, Municipalities, Private Funding Nonprofit Housing Developers, City Housing Authorities and City Planners, RDA, HUD Creation of transferable best practice models 12/30/2018

Pilot Cities & Communities Boulder, Garfield County SRO housing Vernal, Uintah County “Boom or Bust” housing Moab, Grand County Service, Retail and Public Workers South Salt Lake, Salt Lake County Home ownership rate inverse to rest of state – 37% Logan, Cache County Student Housing vs. Residential These pilot cities were already proactively working with the state of Utah for support and guidance. Selected cities also provide diversity in size, location, needs, culture and employment which will provide a variety of models for the final program. 12/30/2018

Map of Pilot Cities Logan South Salt Lake Vernal Moab Boulder Town 12/30/2018

Workforce Income Characteristics Financial Realities for Low- and Moderate- Income Citizens in Utah Pilot Communities 2006 Data FMR Hourly Housing Wage Mean Wage for a renter Utah 678 13.04 9.92 Logan City 615 11.83 7.46 Tooele County 652 12.54 9.97 Uintah County 519 9.98 10.80 Salt Lake City 714 13.73 11.25 12/30/2018

Workforce Housing Costs Current Costs of Housing in Utah Pilot Communities   Average Sales Price Mortgage Payment Hourly Wage Required Utah - Statewide 271,771 1,773.89 34.11 Cache/Rich Counties 190,267 1,241.90 23.88 Salt Lake County 298,214 1,946.49 37.43 Tooele County 207,886 1,356.90 26.09 Uintah Basin 201,072 1,312.23 25.24 Utah County 295,470 1,928.58 37.09 Washington County 329,180 2,148.61 41.32 12/30/2018

Job Classifications Current Incomes by Job in Utah Pilot Communities   AMI Salary Needed Social Workers Teachers Nurses Public Safety Food Services House keeping Utah -- statewide 57,700 70,956 39,104 39,720 28,309 32,677 17,347 17,306 Logan 48,800 49,676 30,307 38,112 29,190 27,960 15,958 16,320 Salt Lake & Tooele areas 60,100 77,860 38,307 41,226 39,811 41,974 22,534 19,220 Uintah Basin 45,500 52,489 32,878 39,088 29,494 32,354 17,102 17,222 Utah County/Provo area 55,100 77,143 36,795 39,541 37,003 16,099 16,952 Washington County 49,600 85,944 32,053 38,418 29,702 28,371 16,307 19,427 12/30/2018

Diverse Resources Technical Assistance Research Financing Lotus Community Development, Consultants Tightline Community Resources, Consultants Federal, State, Financial Institutions, Community Representatives Research Local Officials and Planning staff State, Federal and Nonprofit staff University of Utah – Bureau Economic & Business Research Financing Financial Institutions provide lending participations to provide lines of credit, predevelopment and construction financing, gap financing, municipal bond investments and other resources as needed UCRC, OWHLF, Federal Agencies, Tax Credit Syndication's, regional CHDO’s provide economic development or small business tools, leveraged low-interest loans and grants funds 12/30/2018

Proposed Timelines Pilot Community Research – Winter 2006 Pilot Community Support – Spring and Summer 2007 Statistical Software and Guide Book Development – Summer & Fall 2007 Launch – Summer & Fall 2007 Workshops – Winter 2007 through Early 2008 Plans, Proformas, Development and Best Practice Models – On going through 2009 12/30/2018

Consultant Team Marci Milligan, Consultant Rhoda Stauffer, Consultant Lotus Community Development Institute, 501(c)3 Rhoda Stauffer, Consultant RJS Management Advisors Richard Walker, Consultant Tightline Community Resources 223 West 700 South, Suite C Salt Lake City, Utah 84101 Phone: 801-509-1289 Fax: 801-364-7070 12/30/2018