New Utah nonprofit wins bid to put familes into vacant housing

(Salt Lake Tribune) A start-up organization, co-founded by developer Mark Cohen and two Zions Bank executives, will oversee use of Utah's $20 million in federal neighborhood stabilization funds.

The state purchasing division awarded the competitive bid -- reopened because of a flawed first round in early May -- to Utah Center for Affordable Housing (UCAH), a self-described "new organization with no agenda or history."

One of the unusual elements cited as a plus in UCAH's proposal is that Zions will pay the salary of its executive director, Dan Peterson, for the first year. Peterson is Zions' wholesale mortgage lending vice president.

The UCAH proposal narrowly trumped a collaborative effort submitted by several seasoned housing advocates from around the state, led by Steve Graham of Utah Community Reinvestment Corporation.

Now those agencies hope to be included in the work.

"We put forth the best proposal possible," said Darin Brush, executive director of the nonprofit Community Development Corporation. "Now we will give them our support to make sure they're successful."

Gordon Walker, director of Utah's Division of Housing and Community Development, originally awarded the bid to UCAH in May -- in what some viewed as a secretive process.

Original Article