A Utah lawmaker influential on housing issues is proposing a major financial boost for the state’s top source of low-interest lending to affordable residential construction, the Olene Walker Housing Loan Fund.
Senate Bill 34 — filed in advance of the 2019 Utah legislative session that begins in January — would pump an initial $20 million into the fund in 2020, followed by another $4 million each year thereafter, according to sponsoring Sen. Jake Anderegg, R-Lehi.
On top of expanding the fund’s budget, SB 34 also adds allowing mother-in-law apartments and encouraging construction of high-density housing near transit lines to the state-approved list of strategies Utah’s cities and towns can use to promote housing affordability.