June 14, 2010
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Utah Housing Corporation
  
 
Utah Housing Corporation and the Davis School District are excited to host an open house for their most recent collaborative effort to provide brand new, affordable housing in West Point. Utah Housing Corporation partners with schools and students to provide the ECHO (Educationally Constructed Housing Opportunities) program that helps Utah’s families into wellbuilt, affordable homes.
 
The public is invited to the open house on Thursday, May 27 at 11:00 AM at 3529 W. 1500 N., West Point.
 
The ECHO program is targeted at lowering the cost of a home by using a student workforce. Once complete, the home is typically sold to a moderate-income household at a price well below the market, and the school receives the builder’s fee for constructing the home. ECHO homes have strengthened many school construction programs across Utah and provide an important service to the community by helping moderate-income households afford their own home.
 
“One of the most difficult tasks I face as the supervisor of the construction trade program in or schools is the numerous logistical tasks to make this a meaningful experience for our teachers and students. I often rely heavily on the assistance provide by the staff of Utah Housing Corporation to the make this goal a reality,” stated Neil Hancey, Career and Technical Education Supervisor Davis School District.
 
ECHO homes are typically sold to households earning modest incomes of 80 percent or less of the Area Median Income (AMI) in their community ($54,800 for a family of four inWest Point). Utah Housing provides financing for acquiring the land, purchasing materials and supplies, and paying for licensed subcontractors. Utah Housing has invested over 12 million dollars by building over 100 ECHO homes and funding $900,000 in profits to school programs. Currently eight ECHO homes are under construction across Utah.
 
“We're happy to contribute to the community in this way. ECHO homes truly make a difference. Young people get a chance to leave their mark on the community and families with modest incomes are able to achieve home ownership," said Grant Whitaker, President of Utah Housing Corporation. 
 
About Utah Housing Corporation
 
Utah Housing is the state’s leader in creating affordable housing solutions. As a public, not for profit corporation, Utah Housing provides mortgages for first-time home buyers, finances rental properties and develops special needs housing. Some 60,000 Utahns have purchased their first home through Utah Housing’s mortgage program since Utah Housing was established in 1975. More than 19,000 affordable rental units have also been financed in communities around the state. Dozens of local special needs projects such as women’s shelters are also financed through Utah Housing every year.
 
For more information on affordable housing options, Utahns can visit Utah Housing’s website at www.utahhousingcorp.org, call 801-902-8200, or talk to their realtor or banker about Utah Housing mortgages or homes in their communities.