Longmont staff outline expanded down-payment assistance program after $750,000 state award
City housing staff presented revised down-payment assistance rules that would create a suite of loan options, expand income eligibility to 120% AMI under state funding and preserve a revolving-loan model after a $750,000 Prop 123 award; council asked for more repayment-option detail and did not take formal action.
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Longmont housing staff presented proposed modifications to the city's down-payment assistance (DPA) portfolio during a study-session presentation, explaining how a recent $750,000 Prop 123 state award and a prior $250,000 local pilot would expand loan availability.
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