SALT LAKE CITY - Bob Springmeyer, the “good jobs, good education, good health” candidate for governor, called today for creation of a Perpetual Homestead Fund to meet the needs of Utahns faced with soaring housing costs.
“Utah is beginning to feel the pinch of the economic downturn affecting most other states in the country,” said Springmeyer, citing recent figures that show a decline in the growth of Utah jobs for the ninth month in a row. “Young families with dreams of owning their first homes, laid-off construction workers, and single mothers so far have been among the hardest hit.
“We cannot wait for the worst. It’s time to tap our state’s Rainy Day Fund to give them a bit of shelter from the storm.”
Springmeyer is proposing using up to $10 million from the fund be made available to the Utah Housing Corporation to expand the amount of down-payment assistance first time homebuyers can receive, and called for local governments to match that amount. Homebuyers could then use this money to help them qualify for home loan financing.
“I challenge Gov. Huntsman and leaders of local governments around the state to work with business and civic groups to adopt bold programs, such as the one I propose, that address the housing needs of those hit hardest by a weakening economy,” said Springmeyer.
“Many young families just don’t understand that they can qualify to buy homes and invest in our community” said Springmeyer. “Even a family with an income up to $70,500 can qualify for this excellent example of a Public/Private Partnership.”
Springmeyer has operated his own management consulting business for 30 years. The company, Bonneville Research, specializes in strategic planning and economic development. Springmeyer was born in Provo and raised in Ogden and Sugarhouse. He attended the University of Utah where he earned degrees in economics and political science.
Springmeyer has a long record of working to make Utah communities better places to live. At the recent State Democratic Convention, Springmeyer was nominated to be his party’s standard bearer by 88 percent of the vote. Josie Valdez was nominated to run as his lieutenant governor.
1 comment:
Springmeyer is a typical liberal – wanting to jump in and raid the states precious rainy day fund at the first sign of trouble.
Doesn’t he realize that thru conservative fiscal over sight by the Utah legislature – Utah is fortunate to be one of the states in the union to have such a fund. Does he want to run our A+ bond rating?
The rainy fund should not be touched at the first sign of an economic downturn – Springmeyer is already pushing the panic button and campaigning negatively by preying on individuals fears about the economy.
The rainy day fund should be used for education and other state essentials only in the event of a severe fiscal downturn, like what occurred after 9/11.
Let the free market handle the Housing crisis – individuals and society will better off letting proactive market forces dictate our nation’s situation.
The consumers who got them selves into these housing problems should have read their housing contracts better – why blame the banks? I don’t see government bailing me out if I make a bad investment.
With comments like these one realizes that Springmeyer sees the rainy day fund as a public trough for social reform – he is not fit to be governor.
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