Olene Walker Housing Loan Fund
Quarterly Board Meeting
October 11, 2024 - 9:00am
Olene Walker Administration Building
140 East 300 South - Room 211A & B
Salt Lake City, Utah
Zoom Link
https://utah-gov.zoom.us/j/85485380755
A G E N D A
Welcome Beth Holbrook
Public Comment (3 minutes):
ACTION ITEMS:
Item 1: Recognition of service (3 minutes) Beth Holbrook
Item 2: Approval of Minutes (3 minutes) Beth Holbrook
Quarterly Meeting - July 2, 2024
Electronic Meeting - July 30, 2024
Item 3: Financial Report & FY 2025 Budget Update (5 minutes) Carver Black
NEW BUSINESS:
Item 1: New Multifamily Projects (listed by statute priority and then by score [highest to lowest])
Homeless Projects [Statute Priority - Homelessness]:
1. Saltair Lofts (SLC) - Valley Behavioral Health (7 minutes) Daniel Herbert-Voss
Score: 388 out of 500
New Construction Requesting $500,000
107 South 800 West, SLC, Salt Lake County
2. Sunrise Metro-Atkinson's Stacks (SLC) - GIV Group (7 minutes) Daniel Herbert-Voss
Score: 384 out of 500
New Construction/Acquisition-Rehab Requesting $750,000
580 South 500 West, SLC, Salt Lake County
3. The Point at Fairpark Phase II (SLC) - Switchpoint (7 minutes) Daniel Herbert-Voss
Score: 318 out of 500
New Construction Requesting $1,908,530
130 North 2100 West, SLC, Salt Lake County
4. St. George Shelter (St. George) - Switchpoint (7 minutes) Daniel Herbert-Voss
Score: 283 out of 500
Rehabilitation Requesting $2,162,501
928 North, 1300 West, St. George, Washington County
Acquisition/Rehabilitation Projects [Statute Priority - Acquisition/Rehabilitation]:
5. Dominguez Park Phase III (Millcreek) - Western Region NPHC (7 minutes)
Score: 267 out of 500 Daniel Herbert-Voss
Acquisition/Rehabilitation Requesting $600,000
3970 South 700 West, Millcreek, Salt Lake County
New Construction Projects - Other Multifamily Projects [Ranked by Score]:
6. Fairmont Heights (SLC) - Lincoln Avenue Development (7 minutes) Daniel Herbert-Voss
Score: 375 out of 500
New Construction Requesting $1,428,887
2257 South 1100 East, SLC, UT
7. Valley West (Gunnison) - Rio West Properties (7 minutes) Daniel Herbert-Voss
Score: 343 out of 500
New Construction Requesting $1,550,000
450 North 100 West, Gunnison, Sanpete County
8. Richards Street (SLC) - Lincoln Avenue Development (7 minutes) Daniel Herbert-Voss
Score: 235 out of 500
New Construction Requesting $1,675,759
1116 South Richards Street, SLC, Salt Lake County
9. Ventana (Kanab) - Acumen Development (7 minutes) Daniel Herbert-Voss
Score: 201 out of 500
New Construction Requesting $2,000,000
970 E Kaneplex Drive, Kanab, Salt Lake County
Pre-Development Grant Request:
10. Price Affordable (Price) - HA of Carbon County (7 minutes) Daniel Herbert-Voss
Predevelopment Grant Requesting $50,000
Approximately 300 South 1600 East, Price, Carbon County
Single Family Ownership Request:
11. Aarhus Village Phase III (Ephraim) - Advanced Properties (7 minutes)
Score: 166 out of 500 Daniel Herbert-Voss
New Construction Requesting $1,500,000
100 East 700 North, Ephraim, Sanpete County
Item 2: Existing/Returning Multifamily Projects [Ranked by Score for Additional Funding Only]
1. Lazy Days (Kanab) - Western Region Nonprofit HC (5 minutes) Daniel Herbert-Voss
Change in OW % Rate Requested - No Additional Funds Requested
Acquisition/Rehabilitation
266 West 200 North, Kanab, Kane County
2. Liberty Corner (SLC) - Cowboy Partners (5 minutes) Daniel Herbert-Voss
FInalization of Lien Positions - No Additional Funds Requested
New Construction
1265 South 300 West, SLC, Salt Lake County
3. Liberty Ranch (Park City) - Cowboy Partners (5 minutes) Daniel Herbert-Voss
Approve Financial Stack and Restructured Rent Tiers - No Additional Funds Requested
New Construction
6850 Liberty Ranch Lane, Park City, Summit County
4. 44 North PSH - Housing Connect/First Step House (7 minutes) Daniel Herbert-Voss
Score: 399 out of 500
New Construction - Additional Funds Requested Requesting $2,000,000
44 & 48 North 1000 West, SLC, Salt Lake County
5. Birkhill Lofts (Murray) - The Knowlton Group (7 minutes) Daniel Herbert-Voss
Score: 327 out of 500
New Construction - Additional Funds Requested Requesting $374,301
4277 South Main Street, SLC, Salt Lake County
Item 3: Reports (Please review prior to meeting - Staff will answer questions)
1. Single Family Default List Kathryn Halterman
2. Multifamily Quarterly Progress Report Daniel Herbert-Voss
3. Energy Star Report Daniel Herbert-Voss
4. Monitoring Report Update Steve Fox
5. Home Choice Quarterly Report Josh Runhaar
6. Cash Flow Loan Status Report Daniel Herbert-Voss
7. TOD Report Dan Adams
8. Utah Housing Preservation Fund Lukas Ridd
9. Landlord Incentive Program Kathryn Halterman
I. Next Quarterly Board Meeting: January 9, 2025
Adjourn:
Notice of Special Accommodations (ADA)
NOTICE OF SPECIAL ACCOMMODATION DURING PUBLIC MEETINGS In compliance with the ADA, individuals needing special accommodations during this meeting should notify Dan Murphy at danmurphy@utah.gov at least three (3) working days prior to meeting.
Notice of Electronic or Telephone Participation
Electronic or Telephone participation may be utilized with the following Zoom link:
https://utah-gov.zoom.us/j/85485380755