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  "documentTitle": "2022 strategic update presentation",
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  "authorName": "Goldman Sachs",
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      "text": "There is clear demand for affordable housing and considerable competition to deploy capital in the Utah AA, but the lack of community partners and subsidies make it a difficult market for affordable housing.",
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      "text": "Ongoing review and analysis of reports published by community development organizations and government entities;\nRegular meetings in both formal and informal settings with local nonprofits, community colleges and community advocates;",
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      "text": "Community engagement is at the core of our community development strategy. We conduct regular outreach to local nonprofits, municipal governments, educational institutions and other groups to understand LMI needs and design effective solutions in partnership with all community stakeholders. Our community engagement strategy includes:",
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      "text": "A competitive bank market combined with a small population, few community development partners and limited government subsidies make investing in community development projects in Utah challenging.",
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      "text": "This section details GS Bank's efforts to seek informal suggestions from members of the public as well as formally solicit public comment, as required by 12 CFR §228.27 and 3 CRR-NY § 76.13. GS Bank appreciates the feedback gathered throughout this process, has applied these learnings in developing the Plan, and will continue to seek community input throughout the term of the Plan.",
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      "text": "Community Development Financial Institutions (\"CDFIs\") are often key partners in community development lending and investing opportunities. As of November 2022, there were 1,376 CDFIs nationwide, but only five—less than one-half one percent—were registered in Utah.",
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      "text": "Despite a surplus of capital to be deployed in the oversaturated CRA market, the Utah Housing Corporation has a limited number of Low Income Housing Tax Credits (\"LIHTCs\") to allocate annually due to the state's small population. The Salt Lake City Government proposed a $20 million commitment to affordable and deeply affordable housing for fiscal year 2022 to 2023, which represents approximately 1% of the city's total annual budget.",
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      "text": "Utah is home to 51 banking institutions, most of which have CRA obligations. Examples include Ally Bank, American Express National Bank, Morgan Stanley Bank, Synchrony Bank and UBS Bank. As a competitive market for high quality community development lending and investing, many CRA-eligible transactions are oversubscribed.",
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