Utah Fact Sheets, Stories, and Impact

Fact Sheet

Utah

Community Testimonials

The ability to fund high-impact community facilities and mixed-use projects that develop or redevelop real estate, providing access to critical community goods and services to LIPs, create affordable housing in areas with high need, both in metro and non-metro areas. Catalyze private economic development in Disadvantaged Businesses and Communities (DBCs). CDFA has a strong track record and ongoing mission of helping DBCs by providing access to nontraditional, flexible capital. CDFAs financial products enable smaller less experienced developers, investors, nonprofit’s and community banks to participate in NMTC transactions. Our projects move capital into LICs and provide services and opportunities for LIPs. From 2014 to Oct. 2019 CDFA created 3 Equity Innovative (EI) Funds with 2012, 2015 and 2017 Allocation with 8 QALICBs. Each EI Fund is set up as a blind fund to process multiple transactions with multiple QALICB, but only 1 Leverage Lender and 1 Investment Fund, so each QALICB receives costs savings through shared expenses. CDFA created standard legal documents for QALICBs, paid for by CDFA from our NMTC fees, to further reduce costs. EI Fund has less flexibility in its financing structure than CDFAs Flex Debt product, but if a QALICB meets EI Fund criteria, this product has a track record of reducing QALICBs costs on average by $236,513 or 60% when compared with Flex Debt product, increasing the Net Benefit to the projects. It also reduces the time it takes to close on financing by an average of 4 months or 50%. CDFA has a general pipeline of 12 projects totaling $105mm with 100% in DBCs. CDFAs pipeline is made up of 81% community facilities for education, healthcare, short term lodging and multi service community organizations and 19% mixed-use with education, office and affordable housing.

Staci Olsen, Program Manager, Community Development Finance Alliance, Salt Lake City, UT

Utah NMTC Videos

Utah Project Profiles

Kearns Library

Kearns Library
Project City:
Kearns,
Project State:
UT
Project Year:
(2019)
Kearns Library is a 35,000 sq.ft., state-of-the-art, LEED-certified facility which combines traditional book stacks and reading areas with technology assistance, maker space, video/sound labs, co-work tables, community meeting and classroom …
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EnableUtah

EnableUtah
Project City:
Ogden,
Project State:
UT
Project Year:
(2019)

Waterford Early Learning

Waterford Early Learning
Project City:
Taylorsville,
Project State:
UT
Project Year:
(2019)
An investment from Enhanced Capital’s Utah-focused Small Business Loan Fund recently enabled a nonprofit research center to relocate and continue providing education technology and jobs to a low-income community. Located …
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Arroyo Crossing

Arroyo Crossing
Project City:
Moab,
Project State:
UT
Project Year:
(2019)
Moab Area Community Land Trust is sponsoring the construction of subdivision infrastructure (streets, sidewalks, curbs, sewer and water lines, gas and electrical and storm water drainage) to support the development …
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Utah Community Action Kearns Head Start

Utah Community Action Kearns Head Start
Project City:
Kearns,
Project State:
UT
Project Year:
(2018)
The Kearns Head Start is a XX new construction, multi-use building that will provide four Head Start classrooms, two Early Head Start classrooms, three medical exam roos, one dental exam …
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Stadler Rail

Stadler Rail
Project City:
Salt Lake City,
Project State:
UT
Project Year:
(2018)
Stadler Rail will construct a new 226,000 square foot, state-of-the-art manufacturing facility for light rail passenger cars in Salt Lake City where they will build and assemble trains for transit …
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Ogden Mixed-Use Redevelopment

Ogden Mixed-Use Redevelopment
Project City:
Ogden,
Project State:
UT
Project Year:
(2018)
The Ogden Mixed-Use Redevelopment involves the adaptive reuse of the now-vacant 58,000 square-foot historic Ben Lomond Garage in Ogden, Utah into a creative and arts-focused mixed-use development (the ‘Project’). The …
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Neighborhood House

Neighborhood House
Project City:
Salt Lake City,
Project State:
UT
Project Year:
(2018)
New construction of a 57,000 child care and adult day care facility on a 5.5 acre parcel in west Salt Lake City. The new building will replace a nearly 60 …
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ACT Aerospace

ACT Aerospace
Project City:
Gunnison,
Project State:
UT
Project Year:
(2016)
ACT Aerospace: ACT Aerospace is a manufacturer specializing in composite design, analysis and production for the military and commercial aerospace industries. Providing full engineering support, ACT Aerospace offers full tooling …
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Cascata Packaging

Cascata Packaging
Project City:
West Valley City,
Project State:
UT
Project Year:
(2015)
Located in West Valley City, Utah, a new 75,000-square-foot packaging facility is creating manufacturing jobs and contributing to environmental sustainability. Cascata manufactures flexible packaging for baby food, sports gels, juices …
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La Posada Pintada

La Posada Pintada
Project City:
Bluff,
Project State:
UT
Project Year:
(2015)
Financing for the expansion of La Posada Pintada, a family-owned inn in Bluff, where traditional sources of financing have been hard to obtain for small-business owners in the rural community …
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Artspace Commons

Artspace Commons
Project City:
Salt Lake City,
Project State:
UT
Project Year:
(2015)
Macaroni Flats is the historic rehabilitation of the Western Macaroni Manufacturing Company warehouse originally built in 1900. The project opened in December 2016 and includes 13 residential one and two …
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Shakespeare Festival

Shakespeare Festival
Project City:
Cedar City,
Project State:
UT
Project Year:
(2014)
Since its founding in 1961, the Utah Shakespeare Festival has become the economic and cultural driver in the non-metro community of Cedar City, an area with a population of less …
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Guadalupe School

Guadalupe School
Project City:
Salt Lake City,
Project State:
UT
Project Year:
(2014)
Guadalupe School is the only program in UT providing a continuum of services for 12 years, from birth through 6th grade. The families served are 94% ethnically diverse, 100% in …
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Utah Community Action Head Start

Utah Community Action Head Start
Project City:
South Salt Lake,
Project State:
UT
Project Year:
(2014)
Salt Lake Community Action Program’s (SLCAP) 13,080 SF Head Start facility in South Salt Lake opened in 2014 to serve 150 preschool age children living in poverty annually …
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