Sustain Energy Finance seeks $500,000 to tackle Utah's affordable housing crisis

February 07, 2025 | 2025 Utah Legislature, Utah Legislature, Utah Legislative Branch, Utah


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Sustain Energy Finance seeks $500,000 to tackle Utah's affordable housing crisis
The Utah State Legislature's Economic and Community Development Appropriations Subcommittee convened on February 7, 2025, to discuss critical funding requests aimed at enhancing community support and addressing pressing housing issues in the state.

A significant highlight of the meeting was the request for $250,000 to sustain a scouting program that serves as a vital resource for approximately 1,800 refugees, including individuals from Ukraine, the Congo, and Afghanistan. The program, which operates primarily in the Salt Lake Valley, aims to provide a safe and supportive environment for these young individuals, helping them integrate into the community while promoting ethical and moral development. Scout leaders actively engage with participants by providing transportation to weekly activities, fostering a sense of belonging and community.

In addition to the scouting program, the committee heard from Shauna Kwon, CEO of Sustain Energy Finance, who presented a compelling case for addressing Utah's severe housing crisis. Kwon highlighted a staggering shortage of 37,000 housing units, exacerbated by rising living costs and increasing utility expenses. Sustain Energy Finance is seeking $500,000 to support operational needs while leveraging an anticipated $16 million in private loan capital. This funding aims to facilitate home retrofitting and the development of new affordable housing, with the potential to impact over 500,000 families and create approximately 900 jobs across the state.

The discussions underscored the urgent need for collaborative efforts to tackle housing shortages and support vulnerable populations in Utah. As the committee considers these funding requests, the outcomes could significantly enhance community resilience and economic stability in the region.

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