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Fruita council approves term sheet with Headwaters Housing Partners for Oaks affordable housing project
Summary
The council approved a nonbinding term sheet to negotiate redevelopment of 805 Otley Avenue into 62 multifamily units with a sliding‑scale contribution model to reach affordability targets; council emphasized that any city contributions will require future appropriation and final agreements will return to council.
Fruita — The City Council voted 6–0 to approve a nonbinding term sheet with Headwaters Housing Partners (the Oaks project) that sets negotiation targets for converting the Family Health West property at 805 Otley Avenue into 62 multifamily housing units. Dalton (speaker 16) and staff described the term sheet as a negotiation framework rather than a binding appropriation.
Key elements in the term sheet include a sliding‑scale contribution model that would allow the city and partners to reach affordability targets…
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