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Housing Authority approves direction for ground-lease option with IndiBuild, contingent on LIHTC funding
Summary
The Fruita Housing Authority voted 6-0 to direct staff to prepare a resolution (Res. 2026-1) authorizing terms and conditions for a ground-lease option with IndiBuild for property at 1130/1138½ Road, conditioned on 9% LIHTC funding or an acceptable alternative funding plan and other conditions precedent.
The Fruita Housing Authority voted unanimously to approve Resolution 2026-1 in concept and directed staff to prepare final language setting terms and conditions for an exclusive ground-lease option with IndiBuild for the development of affordable housing on property identified in the discussion (1130 and 1138½ Road).
City Attorney Mary Elizabeth Geiger told the Authority the draft resolution will include specific conditions precedent that IndiBuild…
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