Community Development Corporation of Utah (CDCU) is a 501(c)(3) non-profit organization founded in 1990 to provide solutions for distressed neighborhoods in Salt Lake City. Since then, CDCU has grown to be a major affordable housing provider throughout Utah. CDCU builds new single-and multi-family housing, rehabilitates existing housing stock, and works to revitalize neighborhoods around the state. CDCU is also a US Department of Housing and Urban Development approved housing counseling agency, and provides a combination of critical community services including homebuyer education, homeowner case management, mortgage foreclosure mitigation counseling, down payment assistance, and much more. Its statement of purpose reads:
The Community Development Corporation of Utah/Community Development Fund of Utah assists aspiring homeowners along the path to homeownership, develops sustainable and affordable housing, revitalizes and stabilizes neighborhoods and communities, and promotes self-sufficiency through homeownership.
Since its creation, CDCU has built or rehabilitated over 400 homes throughout Utah. CDCU has also forged a unique partnership with the US Department of Housing and Urban Development (HUD) becoming one of only 5 organizations in the nation to administer the Asset Control Area program. This means CDCU purchases, at half their as-is value, all HUD-foreclosed homes that fall in revitalization areas in Salt Lake and parts of Davis County, rehabilitates the homes, then resells them at or below market value to income-eligible families and/or police officers and teachers. To date, CDCU has rehabilitated more than 100 of these homes.
CDCU has helped more than 4000 families in more than 125 Utah communities to become homeowners.