Sustain Energy Finance asks for $500,000 to leverage private capital for housing retrofits and multifamily affordable housing

Representatives of Sustain Energy Finance presented an RFA asking the subcommittee for $500,000 to support operational needs that the nonprofit says will allow it to leverage $16 million in private loan capital and scale energy-efficiency and affordable-housing financing across Utah.

Shauna Kwon, CEO of Sustain Energy Finance, told the committee the nonprofit pursues home retrofit financing, multifamily affordable-housing financing, and technical-assistance services. Kwon said the group’s $500,000 request would cover operational needs while the group secures $16 million in private loan capital in the current quarter; the organization said that with leverage the effort could support large-scale investment in housing and retrofit markets.

Kwon described an aspirational market impact if the program reaches scale: the organization estimates $6 billion in potential investment in new housing and retrofit needs statewide and the potential to support roughly 500,000 families and create hundreds of jobs if the model scales. The presentation included program details and staff said the request is for one-time funding to catalyze private capital flows.

No formal committee vote occurred during the presentation. The RFA will be ranked as part of the committee’s RFA prioritization process.