Utah Center for Affordable Housing (UCAH) was established in 2009 with a mission to stabilize neighborhoods and increase affordable housing by collaborating with affordable housing providers, funding sources and financial institutions. UCAH serves as a clearinghouse of foreclosed properties in Utah that allows our partners the opportunity to have the first look at foreclosures by national lenders and to purchase them at a discount. This program has facilitated the sale of 696 foreclosed properties that have been developed into new affordable housing or rehabilitated and sold to qualified buyers. UCAH also offers low interest loans to our non-profits to acquire and rehabilitate single-family property. The properties are sold, rented or offered as lease to own to families who are low to moderate income. UCAH also owns and manages 22 units of scattered site housing that are rented to income eligible residents.
What We Do
We act as an intermediary between lenders and affordable housing providers. The housing providers acquire foreclosed properties through us at a discount and lenders are able to sell foreclosed properties to income eligible homeowners. Our goal is to recycle grant funds as many times as possible and to help as many nonprofits as is reasonable. We acquire properties, sell them to affordable housing providers, and then re-deploy the funds. We coordinate environmental and historical reviews, appraisal, title work, and closing. Nearly $19 million received through the Neighborhood Stabilization Program has been deployed in target counties throughout Utah. A variety of nonprofits, municipalities and developers have, or are in the process of purchasing properties that UCAH has acquired from local and national lenders.