Report To The Utah Legislature - A Performance Audit Of The Division Of Housing And Community Development - 2012 Page 6
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33The South Salt Lake City Council did not support more property
being taken from the city’s tax roll and so refused to approve the plans
for the property, resulting in the project not moving forward. Since
2007, HCD has been holding the land in reserve, so the funds
invested in the property are considered to be land-banked. Land-
banking is an unusual practice with this particular fund (the HOME
fund), but is a common practice of other federal housing funds,
educational institutions, and private developers. Utah Code does not
appear to forbid the practice for low-income housing, but is
ambiguous on the matter. Land-banking delays funds from use and
leveraging, while still retaining the value of the asset. The Legislature
may want to consider if and how land-banking for low-income
housing aligns with legislative intent.
Misunderstanding among community partners of the use of both
Chapter III:
federal NSP funds and funding for a training program called Bridges
Misunderstanding
Out of Poverty has led to some confusion and dissatisfaction with the
of HCD Programs
Has Led to
division. Despite these concerns, the first NSP funds released in Utah
Confusion
(NSP1) were awarded appropriately and have been used efficiently.
The third round of funding (NSP3) was not awarded through a
request for proposal (RFP) process because the federal government
did not require use of RFPs. HCD followed the required guidelines
for the release of the funds for an appropriate project. Utah did not
receive any NSP2 monies. We found no basis for concern with
HCD’s use of either of the NSP funds entrusted to them.
Finally, the Bridges Out of Poverty training program has cost the
state minimal amounts, and is offered on a voluntary basis to
interested parties. We found no cause for concern in these areas.
A Performance Audit Of the Division of Housing and Community Development (February 2012)
ii
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