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City proposes new funding to tackle affordable housing crisis

June 26, 2024 | Longmont, Boulder County, Colorado



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This article was created by AI summarizing key points discussed. AI makes mistakes, so for full details and context, please refer to the video of the full meeting. Please report any errors so we can fix them. Report an error »

City proposes new funding to tackle affordable housing crisis
During a recent public hearing, Longmont officials discussed the 2024 Community Development Block Grant (CDBG) program action plan and affordable housing fund allocations, emphasizing the pressing need for affordable housing in the community. Christie Wiseman, the housing investment manager, presented the annual action plan, which is part of a five-year consolidated plan that runs through 2024. The city has received a CDBG entitlement of $478,873 for 2024, marking a slight increase from the previous year, although overall funding trends have been declining.

The total CDBG budget for 2024 is projected at $726,096, which includes carryover funds from previous years. Wiseman noted that the city is currently working with its home consortium members to prepare for the next five-year consolidated plan. Despite the increase in funding, the city received requests exceeding $5.3 million for affordable housing projects, highlighting the significant demand for such initiatives.

Among the key recommendations presented were funding allocations for various projects aimed at enhancing affordable housing options. Notably, the Longmont Housing Authority is seeking $200,000 to replace unit doors at a permanent supportive housing facility, addressing critical issues faced by residents. Additionally, the city plans to set aside $250,000 to pilot a locally funded down payment assistance program, aimed at making homeownership more accessible.

Other funding recommendations include a $400,000 loan for Thistle Community Housing to acquire adjacent property for rehabilitation and new construction, and a $1.235 million partial funding award for Habitat for Humanity to support the development of affordable homes. The Boulder County Housing Authority also received a recommendation for $500,000 to upgrade farmworker housing.

The meeting underscored the city's commitment to addressing housing challenges and the importance of community input in shaping future housing initiatives. The action plan is set to be submitted to HUD by August 16, pending council approval.

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