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County staff seek $4 million start for affordable-housing expansion, propose 10-year strategic plan
Summary
Community Resources proposed a $4 million initial investment and $1 million annual allocation to expand and preserve affordable housing, to be administered through the county housing authority; staff also proposed a 10-year strategic housing plan and described how prior ARPA and HUD funds were used.
Kathleen Smith, director of Community Resources, asked the Board of County Commissioners to consider a $4 million initial investment and a $1 million annual allocation to an Affordable Housing Expansion program, and to fund a 10-year strategic housing plan to guide development and preservation priorities.
Smith said the county previously used an ARPA allocation of $10 million and about $3 million in HUD recovery funding to assist gap financing for more than 750 affordable units. Staff recommends administering the new expansion program through the Arapahoe County Housing Authority and using the first-year $4 million largely for land acquisition/site preparation, construction and rehabilitation, and infrastructure improvements.
The nut graf:…
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