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Arapahoe County staff recommends up to $300,000 in CDBG funds to help close funding gap for Mount View Flats
Summary
County staff proposed reallocating up to $300,000 in uncommitted Community Development Block Grant (CDBG) funds to South Metro Housing Options’ Mount View Flats, a 50-unit affordable housing project in Littleton, to help close a roughly $534,000 shortfall ahead of final LIHTC financing.
Arapahoe County staff recommended allocating up to $300,000 in uncommitted Community Development Block Grant (CDBG) funds to South Metro Housing Options (SMHO) for the Mount View Flats affordable housing project in Littleton, staff told the Board of County Commissioners during an afternoon study session.
The recommendation, presented by Jeremy Fink of Community Resources, comes after SMHO identified a funding gap of a little over $1 million for the roughly $25 million-plus development. Littleton awarded $500,000 from its inclusionary housing program and the county previously noted a $325,000 Centennial CDBG commitment, leaving about $534,000 outstanding; the county’s proposed $300,000 would reduce that gap to roughly $200,000, Fink said.
The proje…
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