Housing Development Loan Program (HDLP)
HDLP Overview
The Housing Development Loan Program (HDLP) incentivizes the development and preservation of affordable housing within city limits. Through this program, the CRA offers low-interest loans to housing developers for new construction and rehabilitation of existing buildings to be used for housing.
Our goal is to support projects that serve diverse households and income levels across the city, promote equity, prevent displacement, foster sustainable and walkable neighborhoods, accommodate a variety of project scales, and leverage private funding sources.
Funding Priorities
The CRA Board of Directors sets annual funding priorities to guide decisions for the fiscal year. These priorities function both as minimum eligibility requirements and as criteria for interest-rate reductions. This year’s housing priorities are:
Deeply Affordable Housing
Increase the supply of homes for extremely low-income households earning 30 percent of Area Median Income (AMI) or less, creating stable options for people who are homeless or at risk of homelessness.
Family Housing with Child-Friendly Amenities
Encourage developments suited to larger households (at least three or more bedrooms) and equipped with on-site, family-oriented amenities so families can fully benefit from urban living.
Wealth-Building Opportunities
Help low- to moderate-income households (up to 120 percent of AMI) build equity through affordable homeownership, shared-equity models, cooperative housing, community land trusts, deed restrictions, and similar wealth-building tools.
Expanding Opportunity
Prioritize affordable housing in neighborhoods with strong access to education, transportation, and jobs, as identified on the CRA’s High Opportunity Area Map, to foster long-term economic mobility.
Neighborhood Services and Commercial Spaces
Support a mix of commercial spaces—such as childcare centers, restaurants, and retail—that strengthen neighborhood vitality and serve residents’ daily needs.
Application Process
Each year, the CRA releases funding through a Notice of Funding Availability (NOFA). The HDLP NOFA is typically released in fall and includes details about available funding, eligibility requirements, and application deadlines.
If you have a project that could provide affordable housing in Salt Lake City, the NOFA is your guide to understanding what funding is available and how to apply.
Who Can Apply
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For-profit developers
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Non-profit organizations with IRS 501(c) status
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Public housing agencies
Funding Allocation Announcement
Following the NOFA announcement, housing developers are generally given about one month to submit applications. Funding allocations, which require CRA Board approval, are typically announced a few months after the application period ends.
Past Funding Levels
In recent years, NOFAs have provided an average of about $7 million annually in low-cost financing for affordable housing. The actual amount varies from year to year, as illustrated by the past two funding cycles.
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FY 2024–2025: About $5 million total funding available
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FY 2023–2024: About $14 million total funding available
Amounts can vary each year based on budget allocations and available resources.
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