SALT LAKE CITY — A bill sponsored by House Minority Whip Joel Briscoe, D-Salt Lake City, that would establish a fund of up to $100 million for affordable housing projects passed a House committee late Friday.
HB464 authorizes the issuance of bonds whose proceeds would be put into the Economic and Revitalization and Investment Fund to be spent on affordable and transitional housing projects around the state.
A housing board created by the Olene Walker Housing Loan Fund will administer the money.
There was a consensus in the committee on the dire need for more affordable housing in Utah, but there was some concerns about borrowing for it.
"My sense is not to bond for things," Rep. Scott Sandall, R-Tremonton, said.
He prefers to come up with specific funding mechanisms for such projects.
"I applaud the effort. I applaud what we’re trying to do. I just can’t authorize a hundred-million dollars in bonding," said Sandall.
The House Economic Development and Workforce Services Committee voted 6-2 to advance the bill, with Sandall and Rep. Cory Maloy, R-Lehi, against.