Colorado housing board approves funding applications for four projects
The applications cover preservation of 60 supportive homes in Fort Collins and planned affordable rentals in three other cities.
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The Colorado State Housing Board approved four housing funding applications at its Oct. 6 meeting. The board voted separately on Redtail Ponds and Ascent at Salt Flats, then approved River Walk Affordable Rentals and Rabbit Ears Quadplex in a grouped motion.
The projects are in Fort Collins, Grand Junction, Ouray and Leadville. Before the votes, state housing staff recommended a combined $5.385 million for them, according to staff recommendations and project materials.
Staff recommended up to $1.2 million in grant funding for Redtail Ponds to pay off debt on the Fort Collins property, which has 60 supportive-housing homes. The proposal is to preserve those homes, not build new ones.
For Ascent at Salt Flats, staff recommended up to $3.25 million as a repayable loan toward construction of 144 apartments in Grand Junction. The planned apartments would serve households earning 30% to 70% of the area median income. Staff also recommended up to $715,000 in grant funding for River Walk, a planned 13-unit development in Ouray, and a $220,000 grant for the four-unit Rabbit Ears Quadplex in Leadville.
The meeting recording does not specify the final dollar awards for the four applications; the amounts above are staff recommendations, not confirmed awards.