Boulder County Housing Authority staff on June 24 reviewed a near-final Special Limited Partner (SLP) policy and discussed private activity bond planning and upcoming projects.

Molly Chang, director of development, said the packet contains what staff believes is a final version of the SLP policy after line-by-line legal review. The policy pulls fee language out of the main document, clarifies application content, and adds a section of "other project information" that lists preferences staff will consider when evaluating proposals, including permanent affordability, energy efficiency and sustainability, alignment with regional housing assessments and strategic housing goals, and homeownership opportunities. Chang said those preferences are not threshold requirements but items that could score projects favorably.

Commissioners questioned how staff would avoid putting county-backed projects in direct competition with one another for scarce resources such as Low Income Housing Tax Credits (LIHTC). Commissioner Stoltzmann asked that the policy include a mechanism to avoid competition with Boulder County Housing Authority initiatives; Chang and staff said they would add a threshold criterion referencing funding sources (for example LIHTC) so projects that would directly compete with BCHA projects would not score well. Chang said staff would draft language to capture that point for inclusion before the policy goes to consent.

There was discussion about sustainability language. One commissioner urged focusing on low- or zero-emissions outcomes rather than only participation in green-building certification programs; staff agreed to refine the language to favor measurable emissions reductions.

On private activity bonds (PAB), Chang said Willoughby Corner Phase 2 is estimated to require about $18 million in bond allocation. She reported the housing authority had received allocations for 2024 and 2025 from the county and assignment from Lafayette for 2024, and that additional allocations are under discussion with Lafayette, Erie, Firestone and Louisville. If Lafayette, Erie and Firestone assign their 2024 cap to BCHA, Chang said the authority would have approximately $16 million available and would need about $18 million, leaving a small remaining gap.

Chang also briefed commissioners that the Superior project (a for-profit developer project that received a tax credit award) remains in contact with BCHA; BCHA had provided a letter of support during the 9% tax credit application and expects the developer may seek assistance once pricing stabilizes.

Staff indicated the SLP policy could come back as a consent-item resolution if attorneys and staff finalize the clarifying language requested by commissioners. Commissioners expressed support for keeping the policy flexible to account for differing project types and for a staff-adopted fee schedule or minimum fees that can be adjusted over time.