In Utah, Goldman Sachs, along with partners from the public and private sectors, has committed over $950 million since 2009. These investments have resulted in over 4,700 affordable housing units, 550,000 square feet of retail, industrial, and commercial and community facility space, 2,100 more students receiving early  education, and small businesses receiving financing that helps to create jobs in Utah. 

The Latest

Press Release: Rent Reporting Can Help Establish Credit History and Combat Economic Inequality

Credit Builders Alliance, Giv Development and Goldman Sachs find rent reporting can help establish credit history and combat economic inequality. Reporting rent payments to credit bureaus increased credit scores by average of 42 points for residents of affordable housing. Read Press Release

LMI Residential Rooftop Solar

In February 2016, Goldman Sachs provided a $3 million credit facility to finance the installation and lease of solar energy systems for 488 single-family homes in Salt Lake City, the majority of which are leased to low- and moderate-income residents.   

The loan was made through an innovative financing structure that installs solar energy systems on low- and moderate-income homes generating triple-bottom line impact by transitioning households to renewable energy usage and creating savings for low- and moderate-income households. The homes are owned by Restore Utah, a Goldman Sachs joint venture that was created to revitalize neighborhoods by acquiring and transforming vacant or neglected properties hard hit by the financial crisis into quality affordable rental homes for low-income families. Entering into an agreement with Restore Utah to lease the systems provided the project with a stabilized portfolio of homes which served to reduce costly customer acquisition expenses and demonstrate an effective model for future projects.       

Installation of the panels will be done by Restore Solar, a borrower under Goldman Sachs’ 10,000 Small Businesses initiative, who will be hiring and training primarily low- and moderate-income individuals in the solar installation trades. The project is in line with Goldman Sachs’ Clean Energy Access Initiative, which seeks to deploy clean energy solutions in underserved markets.