Housing & Neighborhood Development
451 South State Street

PO Box 145488
Salt Lake City UT 84114-5488
801.535.7269
FAX 801.535.6078
Office hours: M-F 8 am to 5 pm

American Dream Downpayment Initiative (ADDI)

A new program has been created by the Federal Government to provide downpayment assistance to help low-income families become home owners. The American Dream Downpayment Initiative (ADDI) was signed into law on December 16, 2003 . These funds will be administered under HUD's HOME Investment Partnerships Program and will be subject to the HOME program regulations.

Eligible applicants for these funds include:  1) nonprofit organizations,  2) for-profit entities,  3) nonprofit community housing development organizations (CHDO), and  4) public agencies capable of administering this down payment assistance program. To be eligible for ADDI funding, subrecipients must be able to demonstrate their clients are first-time home buyers interested in purchasing single-family housing with incomes not exceeding 80% of area median income. Eligible activities include: down payment assistance, closing costs, and rehabilitation expenses associated with the assisted home purchase. Rehabilitation activities assisted with ADDI funds must be completed within one year of the home purchase.

ADDI funds will provide successful individuals with a maximum down payment assistance grant of either $10,000 or six percent of the purchase price of the home, whichever is greater.

Funds will be allocated on a competitive basis to eligible entities. The Salt Lake City Housing Trust Fund Advisory Board will review all applications and make funding recommendations to the Mayor. The Mayor will make funding recommendations to the City Council who will have the final approval authority.

Housing organizations interested in ADDI please contact Sandi Marler at 801-535-7269.

If you are an individual interested in ADDI funds for downpayment assistance and first time home buyer assistance to purchase your personal home, please contact the City Housing Rehabilitation Division at 535-7228.

The deadline for 2009-10 year funding was August 25, 2008. The next cycle will begin in summer 2009 for 2010-11 funds.