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Council signals support to use federal NOAH funds to preserve Bridal Lofts, urges Wheat Ridge Housing Authority loan forgiveness
Summary
In a special study session, councilors expressed consensus to pursue a staff recommendation to use federal Naturally Occurring Affordable Housing (NOAH) grant funds and request the Wheat Ridge Housing Authority forgive its loan to facilitate Foothills Regional Housing's proposed purchase of the Bridal (Fruitdale) Lofts.
WHEAT RIDGE, Colo. — City leaders signaled support during a special study session Monday for using federal NOAH funding to preserve affordability at the Bridal Lofts (the former Fruitdale School) by enabling Foothills Regional Housing to buy the property.
City staff presented a timeline showing the school was decommissioned in 2007, purchased by the Wheat Ridge Housing Authority in 2011 and redeveloped as 16 residential units (the Bridal Lofts) with a 2017 grand opening. Staff said the property was placed on the National and State Registers of Historic Places in 2013 and has energy-efficiency and edible landscaping features. The property’s financing history is complex and, staff said, the current owner—Hartman Eli Investments (HEI)—has informed the city it is pursuing a…
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