Report To The Utah Legislature - A Performance Audit Of The Division Of Housing And Community Development - 2012 Page 20

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Figure 2.3 The Amount of Money OWHLF Has Contributed to
Low-Income Housing Projects Has Remained Fairly Constant.
This has occurred over the last five fiscal years.
$20,000,000 
$15,000,000 
$10,000,000 
$5,000,000 
$‐
FY06
FY07
FY08
FY09
FY10
Funds Available
Projects Funded
Ending Reserves
Source: Division of Housing and Community Development
On average, OWHLF has about $15.7 million in funds annually
available for projects. About $10.5 million per year has been used on
OWHLF’s amount of
project funding has
projects, leaving $5.2 million per year in reserve funds. Due to the
remained consistent
recession, OWHLF has contributed a larger proportion to total
over the last five years.
project funding as it has been difficult for private developers to cover
their share of the cost.
Although actual funds spent by OWHLF on low-income projects
have remained fairly steady, the number of housing units funded has
gradually increased in the same period. Figure 2.4 shows the number
of single- and multi-family units funded by the fund.
A Performance Audit of the Division of Housing and Community Development (February 2012)
10

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