Southern Arizona Land Trust Inc

Programs: Support the affordable housing and economic development purposes and activities of the industrial development authority of the county of pima. Salt believes that having a safe, decent, and affordable place to call home can be a key to family stability, better health, educational achievement and job skills enhancement. It is an opportunity to break the cycle of poverty that often results from a substandard or cost burdensome residence. Salt's affordable housing programs have this in mind by delivering high quality, energy efficient and affordable homes.

in 2009, congress enacted the american reinvestment and recovery act (arra) and with it the neighborhood stabilization program 2 (nsp2). Salt became a member of a local consortium headed by pima county consisting of government and nonprofit organizations that submitted a proposal to the department of housing and urban development (hud). The consortium, pima neighborhood investment partnership (pnip), had one of the highest scoring proposals in the country and was awarded 22 million dollars in nsp2 funding. Salt received the largest award among the consortium members, receiving over 8 million dollars with which to invest in and help revitalize the areas of tucson that were hit the hardest in the great recession. Through the nsp2 program, salt was able to acquire and rehabilitate over sixty (60) single family homes that have become part of salt's affordable rental house portfolio. In addition, salt added to its land bank approximately fifty (50) parcels of land which were being held for future development. Salt has developed a portion of this land bank and intends to complete the disposition of these properties over the next 24-48 months. Salt has actively pursued opportunities to increase the size and impact of the nsp2 housing program and has become one of the largest providers of affordable single family rental homes in the tucson area. The average income for families residing in salt nsp2 properties is currently just over 50% of the local area median income (ami). To continue to grow the affordable rental portfolio, salt must rely on other funding sources. The primary reason that salt requires outside funding sources is because the net income from the nsp2 funded houses (which make up approximately 60 percent of the rental units) must be reinvested into the program. In order to continue to expand the nsp2 housing program, salt seeks private philanthropy, government funding, and grant opportunities with which it can leverage the income available from the nsp2 program into additional affordable housing units.

the approximately 110,109 investment (capital) gain included on line 10 is also program related activity. Salt sold three (3) completed homes in 2017 to low to moderate income families. These homes generated a net loss of approximately 3,606. This loss reflects the market conditions existing during the year, where it costs more to develop and build affordable housing than is realized in sales. Also during 2017, salt exchanged 10 lots for 10 lots with habitat for humanity which generated a net gain of 113,715.