S.C.R. 1 Enrolled

FUNDING FOR OLENE WALKER HOUSING
TRUST FUND RESOLUTION
1998 GENERAL SESSION
STATE OF UTAH
Sponsor: Pete Suazo
A CONCURRENT RESOLUTION OF THE LEGISLATURE AND THE GOVERNOR
EXPRESSING SUPPORT FOR CONTINUING APPROPRIATIONS TO THE OLENE
WALKER HOUSING TRUST FUND.
Be it resolved by the Legislature of the state of Utah, the Governor concurring therein:
WHEREAS housing for low and moderate income Utahns is a statewide concern;
WHEREAS the Olene Walker Housing Trust Fund is an important source of funds for
assisting the development of affordable housing for low income families, homeless persons, and
special needs housing;
WHEREAS the Olene Walker Housing Trust Fund leverages other federal, local, and
private funds to produce needed affordable housing, with a return on investment of ten dollars to
every state dollar contributed;
WHEREAS the Olene Walker Housing Trust Fund participates in financing approximately
one thousand units of affordable and special needs housing each year;
WHEREAS the legislature has appropriated an average of $3,000,000 each year for the past
four years; and
WHEREAS the Olene Walker Housing Trust Fund has a portfolio approaching
$20,000,000 and has an asset goal of $100,000,000 at which point it will produce dividends of
approximately $5,000,000 per year and will be essentially self-sustaining:
NOW, THEREFORE, BE IT RESOLVED that the legislature of the state of Utah, the
governor concurring therein, supports additional annual appropriations to the Olene Walker
Housing Trust Fund to finance needed affordable housing statewide and to help meet the goal of
a $100,000,000 portfolio as soon as possible so that it can be self-sustaining.