If you’re like many other Utahns who are tired of paying rent and would rather that money go towards a down payment then you’re in luck — there’s a new model that is designed to help tenants do just that.
Mayor Erin Mendenhall calls it the “most innovative and equity-building housing model Utah has ever seen.”
Well, there’s a new model, unlike any other in Utah, that is designed to help tenants do just that. And Salt Lake City is poised to kick in some cash to help get the program going.last month, would add to the growing tally of affordable units coming on line as the cost of living along the Wasatch Front continues to soar.— as the “most innovative and equity-building housing model Utah has ever seen.
“What we’re really trying to do with some of these initial projects is look at the entire spectrum of who cannot afford a home right now,” Parker said, “and try to find a solution for pretty much everybody to go ahead and start realizing some of the value from their real estate.”There are a few ways renters would be able to benefit financially from a Perpetual Housing Fund project.
Instead of investors getting paid out each year with the building’s proceeds, that money would flow to residents annually in the form of a check.
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