35A-8-505.  Activities authorized to receive fund money — Powers of the executive director.
     At the direction of the board, the executive director may:

(1)  provide fund money to any of the following activities:

Terms Used In Utah Code 35A-8-505

  • Accessible housing: means housing which has been constructed or modified to be accessible, as described in the State Construction Code or an approved code under Title 15A, State Construction and Fire Codes Act. See Utah Code 35A-8-101
  • Affordable housing: means housing occupied or reserved for occupancy by households whose incomes are at or below certain income requirements at rental rates affordable to such households. See Utah Code 35A-8-501
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Board: means the Housing Board created by this part. See Utah Code 35A-8-501
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Department: means the Department of Workforce Services created in Section 35A-1-103. See Utah Code 35A-1-102
  • Director: means the director of the division. See Utah Code 35A-8-101
  • Executive director: means the executive director of the department appointed under Section 35A-1-201. See Utah Code 35A-1-102
  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • Fund: means the Olene Walker Housing Loan Fund created by this part. See Utah Code 35A-8-501
  • Land: includes :Utah Code 68-3-12.5
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Property: includes both real and personal property. See Utah Code 68-3-12.5
  • State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
  • United States: includes each state, district, and territory of the United States of America. See Utah Code 68-3-12.5
(a)  the acquisition, rehabilitation, or new construction of low-income housing units;

(b)  matching funds for social services projects directly related to providing housing for special-need renters in assisted projects;

(c)  the development and construction of accessible housing designed for low-income persons;

(d)  the construction or improvement of a shelter or transitional housing facility that provides services intended to prevent or minimize homelessness among members of a specific homeless subpopulation;

(e)  the purchase of an existing facility to provide temporary or transitional housing for the homeless in an area that does not require rezoning before providing such temporary or transitional housing;

(f)  the purchase of land that will be used as the site of low-income housing units;

(g)  the preservation of existing affordable housing units for low-income persons;

(h)  providing loan guarantees under the two-year pilot program established in Section 35A-8-504.5;

(i)  the award of predevelopment grants in accordance with Section 35A-8-507.5;

(j)  the creation or financial support of a mediation program for landlords and tenants designed to minimize the loss of housing for low-income persons, which program may include:

(i)  funding for the hiring or training of mediators;

(ii)  connecting landlords and tenants with mediation services; and

(iii)  providing a limited amount of gap funding to assist a tenant in making a good faith payment towards attorney fees, damages, or other costs associated with eviction proceedings or avoiding eviction proceedings; and

(k)  other activities that will assist in minimizing homelessness or improving the availability or quality of housing in the state for low-income persons; and

(2)  do any act necessary or convenient to the exercise of the powers granted by this part or reasonably implied from those granted powers, including:

(a)  making or executing contracts and other instruments necessary or convenient for the performance of the executive director and board’s duties and the exercise of the executive director and board’s powers and functions under this part, including contracts or agreements for the servicing and originating of mortgage loans;

(b)  procuring insurance against a loss in connection with property or other assets held by the fund, including mortgage loans, in amounts and from insurers it considers desirable;

(c)  entering into agreements with a department, agency, or instrumentality of the United States or this state and with mortgagors and mortgage lenders for the purpose of planning and regulating and providing for the financing and refinancing, purchase, construction, reconstruction, rehabilitation, leasing, management, maintenance, operation, sale, or other disposition of residential housing undertaken with the assistance of the department under this part;

(d)  proceeding with a foreclosure action, to own, lease, clear, reconstruct, rehabilitate, repair, maintain, manage, operate, assign, encumber, sell, or otherwise dispose of real or personal property obtained by the fund due to the default on a mortgage loan held by the fund in preparation for disposition of the property, taking assignments of leases and rentals, proceeding with foreclosure actions, and taking other actions necessary or incidental to the performance of its duties; and

(e)  selling, at a public or private sale, with public bidding, a mortgage or other obligation held by the fund.

Amended by Chapter 102, 2021 General Session
Amended by Chapter 333, 2021 General Session

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