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Council hears staff recommendation to assign Thornton's 2025 private activity bond allocation to apartment preservation project
Summary
Staff presented three requests for the city's 2025 private activity bond (PAB) allocation of $9.4 million and recommended assigning the allocation to Related Affordable LLC for renovation of Dawson Square Apartments; council discussion favored the staff recommendation but no formal vote was recorded.
City staff presented three letters of interest and a staff recommendation for how Thornton should assign its 2025 private activity bond (PAB) allocation, which staff said totals $9,400,000 per the Department of Local Affairs (DOLA) allocation.
Housing staff presented three applicants: Maker Housing Partners (requesting bonds for a new 80‑unit development previously awarded 2024 bonds but not yet started); Related Affordable LLC (requesting PABs to renovate Dawson Square Apartments, a 36‑unit project in unincorporated Adams County one block from Thornton); and Colorado Housing Assistance Corporation (CHAC, proposing PABs for…
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