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Home My WebLink About09/13/2023 - Human Services And Housing Funding Board - Agenda - Regular Meeting09/13/2023 Agenda Page 1 HUMAN SERVICES & HOUSING FUNDING BOARD SUMMARY AGENDA REGULAR MEETING Wednesday, September 13, 2023 5:30pm Fort Collins Senior Center - 1200 Raintree Drive, Fort Collins - Foxtail 1 Room Participation for this Human Services and Housing Funding Board regular meeting will be available in-person only at the location identified above. Online viewing/participation will not be available for the public. Documents to Share: If residents wish to share a document or presentation, the Staff Liaison needs to receive those materials via email at least 24 hours before the meeting. Individuals uncomfortable or unable to participate by in-person are encouraged to participate by emailing general public comments you may have to amolzer@fcgov.com . The Staff Liaison will ensure the Board receives your comments. If you have specific comments on any of the discussion items scheduled, please make that clear in the subject line of the email and send 24 hours prior to the meeting. 1. CALL TO ORDER & ROLL CALL 2. AGENDA REVIEW 3. COMMUNITY PARTICIPATION (3 MINUTES PER INDIVIDUAL) 4. APPROVAL OF MINUTES: April 25, 2023 | April 26, 2023 | May 10, 2023 5. UNFINISHED BUSINESS 6. NEW BUSINESS a. HOME-ARP Housing Request Funding Deliberation 7. BOARD MEMBER REPORTS (Committees, Event attendance, etc.) 8. STAFF REPORTS a. City Council Ordinance – B&C Terms – September 19 Second Reading b. Summer Site Visits Summary c. Human Services Priorities Platform Engagement 9. OTHER BUSINESS (Board member concerns, Announcements) a. Grantee Client Story 10. NEXT MEETING a. Wednesday, October 11, 2023 | 5:30pm | Location: TBD 11. ADJOURNMENT Human Services & Housing Funding Board DRAFT SPECIAL MEETING April 25, 2023 at 5:30 PM 1200 Raintree Dr, Fort Collins – Foxtail 1 Meeting Room 4 /2 5 /2023 – MINUTES Page 1 1. CALL TO ORDER • At 5:45 PM the meeting was called to order by Josh Johnson. 2. ROLL CALL • Board Members Present o Josh Johnson, Chair o Olga Duvall, Vice Chair o Christine Koepnick o Erma Woodfin o Michaela Ruppert o Mike Kulisheck o Mike Nielsen o Pat Hastings • Staff Members Present o Adam Molzer, Staff Liaison, Social Sustainability – City of Fort Collins o Beth Rosen, Social Sustainability – City of Fort Collins o Hannah Tinklenberg, Social Sustainability – City of Fort Collins o Tamra Leavenworth, Social Sustainability – City of Fort Collins o Sue Beck-Ferkiss, Social Sustainability – City of Fort Collins o Dianne Tjalkens, Social Sustainability – City of Fort Collins • Community Members in Attendance o Kim Iwanski, CARE Housing o Dustin Barrington, L’Arche Fort Collins o Linda Drees, L’Arche Fort Collins o Lori Kempter, Crossroads Safehouse Due to the duration and extent of the housing preliminary grant review, the summary of the meeting reflected in the minutes below may not include all details of the HSHF-Board’s discussion. For further information, details and insight, and audio recording, resources are available by contacting the HSHF-Board staff liaison. 3. AGENDA REVIEW Adam Molzer reviewed the agenda. The Board accepted the agenda without modification. 4. PUBLIC PARTICIPATION Guests from the public introduced themselves. No additional public comments. 5. BOARD MEMBER REPORTS Human Services & Housing Funding Board SPECIAL MEETING 4 /2 5 /2023 – MINUTES Page 2 None. 6. STAFF REPORTS • The Wednesday, April 26th meeting will begin at 4:00pm to deliberate funding for the human services grant applications. 7. UNFINISHED BUSINESS None. 8. NEW BUSINESS a. Deliberations to Formulate Funding Recommendations – CDBG Public Services (renewal funding) • Beth Rosen provided a brief overview of the CDBG Public Service funds to the Board, explaining that since these awards were originally allocated in FY22, then FY23 is the first year the Board must consider and vote on renewal funding. CDBG Public Service funds are distributed to organizations that provide emergency sheltering and services or provide housing stabilization services. The funds are distributed in percentages (of the eligible CDBG funding total for Public Service) over a 5-year period. • Beth Rosen gave an overview of each organization’s funding request, what the funds will be used for, how many clients will be served, and the organization’s progress over the last year. Several board members followed up with clarifying questions for Beth Rosen and Hannah Tinklenberg. • Olga Duvall motioned to approve the 2023 CDBG Public Service funding recommendations at the percentages presented. Mike Nielsen seconded. Approved 8-0. • The CDBG Public Service funds will be renewed for FY23 as follows:  Catholic Charities – Samaritan House Fort Collins Shelter – $52,618 (31% of available funding)  Crossroads Safehouse – Domestic Violence Emergency Shelter Advocacy – $44,132 (26% of available funding)  Family Housing Network of Fort Collins, Inc. – Family Housing Network Shelter Program – $18,670 (11% of available funding)  Neighbor to Neighbor, Inc. – N2N Housing Solutions – Direct Rental Assistance – $54,316 (32% of available funding) b. Deliberations to Formulate Funding Recommendations – Affordable Housing • The Affordable Housing Board’s rankings of the housing proposals were presented. • A total of 6 proposals were submitted, requesting $2.8 million total for housing projects and programs. Adam Molzer explained that the Board would first vote to support funding for each project, then rank each project in order of priority. • Beth Rosen provided an overview of the funding considerations and reviewed the Housing Strategic Plan goals, encouraging Board members to consider how each project relates to these goals when making their decisions. Human Services & Housing Funding Board SPECIAL MEETING 4/25 /2023 – MINUTES Page 3 • Olga Duvall motioned to approve funding for HO-1 CARE Housing. Josh Johnson seconded. Approved 8-0. • The Board engaged in discussion about HO-2 City of Fort Collins Forestry Department. They discussed several conditions that could be added to the contract to ensure the program operates smoothly and equitably. The Board also discussed other funding possibilities the Forestry Department could pursue in future years to assess the project’s financial sustainability. • Josh Johnson motioned to support funding for HO-2 City of Fort Collins Forestry Division with the condition that funding is only applied to owner-occupied primary residences and that they serve a minimum of 20 households with the funds. Olga Duvall seconded. Approved 8-0. • Olga Duvall motioned to approve funding for HO-3 Elevation Community Land Trust. Michaela Ruppert seconded. Approved 8-0. • Pat Hastings motioned to approve funding for HO-4 Habitat for Humanity. Erma Woodfin seconded. Approved 8-0. • The Board engaged in discussion about HO-5 L’Arche Fort Collins – expressing concerns about the program’s commitment to diversity, equity, and inclusion, and readiness to proceed. • Olga Duvall motioned to approve funding for HO-5 L’Arche Fort Collins. Pat Hastings seconded. Approved 6-1-1. Erma Woodfin abstained. • Josh Johnson motioned to approve funding for HO-6 Villages, Ltd. Mike Nielsen seconded. Approved 8-0. • Erma Woodfin motioned to adopt the Affordable Housing Board’s prioritized ranking of projects. Olga Duvall seconded. Josh Johnson proposed a friendly amendment to move HO-2 City of Fort Collins Forestry Division to Priority #5 and HO-5 L’Arche Fort Collins to Priority #6. Erma Woodfin and Olga Duvall accepted the friendly amendment. The final priority ranking list was presented as follows: Priority #1 – HO-1: CARE Housing – Heartside Hill Priority #2 – HO-3: Elevation Community Land Trust – Kechter Townhomes Priority #3 – HO-6: Villages, Ltd. – 2155 W. Plum Priority #4 – HO-4: Fort Collins Habitat for Humanity – Harmony Cottages Priority #5 – HO-2: City of Fort Collins Forestry Division – Tree Removal Pilot Program Priority #6 – HO-5: L’Arche Fort Collins – L’Arche Housing Motion to pass the FY23 prioritization as presented passed 8-0. Housing projects are ranked in priority order. If a project receives funding through the City from another source and/or withdraws their proposal, the funding recommendation will be withdrawn, and funds will be made available to the next eligible, prioritized project. 9. OTHER BUSINESS None. Human Services & Housing Funding Board SPECIAL MEETING 4 /2 5 /2023 – MINUTES Page 4 10. NEXT MEETING Wednesday, April 26, 2023 | 4:00 PM | Location: 222 Laporte Avenue – Colorado River Room 13. ADJOURNMENT Josh Johnson adjourned meeting at 7:57 PM. Minutes were finalized and approved by the Human Services & Housing Funding Board on ____________________ Human Services & Housing Funding Board DRAFT SPECIAL MEETING April 26, 2023 at 4:00 PM 222 Laporte Ave, Fort Collins – Colorado River Room Additional viewing option via Zoom 4 /2 6 /2023 – MINUTES Page 1 1. CALL TO ORDER • At 4:09 PM the meeting was called to order by Josh Johnson. 2. ROLL CALL • Board Members Present o Josh Johnson, Chair o Olga Duvall, Vice Chair o Christine Koepnick o Erma Woodfin o Michaela Ruppert o Mike Kulisheck o Mike Nielsen o Pat Hastings • Staff Members Present o Adam Molzer, Staff Liaison, Social Sustainability – City of Fort Collins o Javier Echeverría Díaz, Sustainability Service Area – City of Fort Collins o Beth Rosen, Social Sustainability – City of Fort Collins o Amanda McGimpsey, Social Sustainability – City of Fort Collins • Community Members in Attendance o Nathan Shaw, Vindeket Foods o Dustin Barrington, L’Arche Fort Collins o Jane Barber, Disabled Resource Services o Sharlene Johnson, Food Bank for Larimer County (online) o Katie Dockery, Exceptional Kids (online) o Kelli Pryor, United Way of Weld County (online) o Emma Due to the duration and extent of the human services preliminary grant review, the summary of the meeting reflected in the minutes below may not include all details of the HSHF Board’s discussion. For further information, details and insight, and video recording, resources are available by contacting the HSHF Board staff liaison. 3. AGENDA REVIEW Adam Molzer reviewed the agenda. The Board accepted the agenda without modification. 4. PUBLIC PARTICIPATION Guests from the public introduced themselves. No additional public comments. Human Services & Housing Funding Board SPECIAL MEETING 4 /2 6 /2023 – MINUTES Page 2 5. APPROVAL OF MINUTES – April 5, 2023 Regular Meeting Olga Duvall moved to approve the April 5, 2023 meeting minutes as presented. Erma Woodfin seconded. Josh Johnson abstained due to absence at the April 5 meeting. Approved 7-0. 6. BOARD MEMBER REPORTS None. 7. STAFF REPORTS None. 8. UNFINISHED BUSINESS None. 9. NEW BUSINESS a. Deliberations to Formulate Funding Recommendations – Human Services Adam Molzer provided a review of the goals of deliberation and the methods used to evaluate each Board member’s scorecard. Javier Echeverría Díaz provided the Board members with a brief overview of the data analysis process, explaining that each Board member’s scorecard was reviewed for accuracy and deviations. In his evaluation, Javier noted that all members’ scores were well-balanced throughout the applications from high to low scores. No adjustments were necessary. Deliberations protocol has Board members begin at the top of the ranking list, with each proposal open to further discussion. Funding recommendations will be made with a first and second motion, and friendly amendments are permitted. Adam Molzer noted that funding recommendations will go before Council in June and the grant cycle will begin October 2023. Adam presented the Board with the available funding amount ($907,977) and provided an overview of the ranking spreadsheet. HS-18: Homeward Alliance – Family Services Programs Motion by Josh Johnson to fund at $35,000. Seconded by Pat Hastings. Approved 7-0-1. Christine Koepnick abstained. HS-34: The Family Center/La Familia – Family Support Services Motion by Olga Duvall to fund at $42,700. Seconded by Mike Nielsen. Approved 8-0. HS-19: Homeward Alliance – Murphy Center Motion by Pat Hastings to fund at $32,000. Seconded by Michaela Ruppert. Approved 7-0-1. Christine Koepnick abstained. HS-5: CASA of Larimer County – Family Connections at Harmony House Motion by Josh Johnson to fund at $36,000. Seconded by Olga Duvall. Approved 8-0. Human Services & Housing Funding Board SPECIAL MEETING 4 /2 6 /2023 – MINUTES Page 3 HS-4: CASA of Larimer County – Court Appointed Special Advocates Motion by Olga Duvall to fund at $35,000. Seconded by Erma Woodfin. Approved 8-0. Adam Molzer provided an update of funds: remaining balance is ~$727,000. HS-40: United Way of Weld County – Coordinated Assessment and Housing Placement System Motion by Olga Duvall to fund at $21,000. Seconded by Josh Johnson. Approved 8-0. HS-3: Boys & Girls Club of Larimer County – Boys & Girls Clubs of Larimer County Motion by Pat Hastings to fund at $31,000. Seconded by Michaela Ruppert. Approved 8-0. HS-8: ChildSafe Colorado – Child Abuse Treatment Program Motion by Erma Woodfin to fund at $40,000. Seconded by Mike Nielsen. Approved 8-0. HS-31: Teaching Tree Early Childhood Learning Center – Childcare Scholarships for Low-Income Families Motion by Mike Kulisheck to fund at $54,000. Seconded by Josh Johnson. Approved 8-0. HS-24: Neighbor to Neighbor – N2N Rent Assistance Coordination Motion by Josh Johnson to fund at $42,000. Seconded by Michaela Ruppert. Approved 8-0. HS-27: Respite Care – Childcare Scholarships for Low-Income Families Motion by Mike Kulisheck to fund at $25,500. Seconded by Olga Duvall. Approved 8-0. HS-26: Project Self-Sufficiency – Project Self-Sufficiency Motion by Erma Woodfin to fund at $21,000. Seconded by Michaela Ruppert. Approved 8-0. HS-2: Alianza NORCO – Bilingual Navigation Services Program Motion by Olga Duvall to fund at $17,000. Seconded by Erma Woodfin. Approved 8-0. HS-33: The Crawford Childhood Advocacy Center – Fighting Child Sexual Abuse & Maltreatment Motion by Michaela Ruppert to fund at $17,000. Seconded by Christine Koepnick. Approved 8-0. HS-35: The Matthews House – Youth and Family Center Motion by Josh Johnson to fund at $30,000. Seconded by Michaela Ruppert. Approved 8-0. HS-17: Food Bank for Larimer County – Fort Collins Kids Cafe Motion by Pat Hastings to fund at $22,000. Seconded by Josh Johnson. Approved 8-0. HS-43: Volunteers of America – Home Delivered Meals Program Motion by Mike Kulisheck to fund at $24,000. Seconded by Olga Duvall. Approved 8-0. HS-23: Meals on Wheels for Fort Collins – Meal Delivery Program Motion by Mike Nielsen to fund at $31,000. Seconded by Mike Kulisheck. Approved 8-0. HS-39: United Way of Larimer County – Larimer Child Care Fund Motion by Erma Woodfin to fund at $20,000. Seconded by Christine Koepnick. Friendly amendment by Pat Hastings to fund at $23,000. Accepted by Erma Woodfin and Christine Koepnick. Approved 8-0. Human Services & Housing Funding Board SPECIAL MEETING 4 /2 6 /2023 – MINUTES Page 4 HS-37: The Salvation Army – Rent and Utilities Assistance Motion by Mike Kulisheck to fund at $19,000. Seconded by Erma Woodfin. Approved 8-0. Adam Molzer provided an update of funds: remaining balance is ~$309,777. HS-7: Children’s Speech and Reading Center – Childhood Communication Motion by Pat Hastings to fund at $16,000. Seconded by Michaela Ruppert. Approved 8-0. HS-10: Disabled Resource Services – Disability Services for Independence Motion by Michaela Ruppert to fund at $25,000. Seconded by Olga Duvall. Approved 8-0. HS-41: Vindeket Foods – Vindeket Market Motion by Pat Hastings to fund at $18,000. Seconded by Michaela Ruppert. Friendly amendment by Mike Kulisheck to fund at $19,500. Accepted by Pat Hastings and Michaela Ruppert. Approved 8-0. Discussion: The Board expressed their appreciation for the ways in which this organization addresses both hunger and food waste. HS-29: Sexual Assault Victim Advocate Center – Sexual Assault Victim Services Motion by Erma Woodfin to fund at $26,000. Seconded by Mike Kulisheck. Approved 8-0. HS-1: A Little Help – A Little Help for Older Adults in Fort Collins Motion by Josh Johnson to fund at $24,000. Seconded by Mike Nielsen. Approved 8-0. Adam Molzer provided an update of funds: remaining balance is ~$199,000. Adam Molzer called for a short break at 5:24 PM and the meeting resumed at 5:51 PM. HS-15: Family Housing Network – Sherwood House - Bridge Housing Motion by Olga Duvall to fund at $15,000. Seconded by Pat Hastings. Approved 8-0. HS-9: Crossroads Safehouse – Bringing Justice Home Motion by Erma Woodfin to fund at $15,000. Seconded by Olga Duvall. Approved 8-0. HS-12: Elderhaus Adult Day Program – Direct Care for Residents Living with Disabilities Motion by Mike Kulisheck to fund at $30,000. Seconded by Josh Johnson. Approved 8-0. HS-21: Larimer County Partners Motion by Olga Duvall to fund at $15,000. Seconded by Michaela Ruppert. Approved 8-0. HS-22: McBackpack – McBackpack Program Motion by Josh Johnson to fund at $15,000. Seconded by Olga Duvall. Friendly amendment by Erma Woodfin to fund at $17,000 was declined. The motion fails 4-4. Opposed by Michaela Ruppert, Pat Hastings, Mike Kulisheck, and Erma Woodfin. Adam Molzer provided an update that if McBackpack were funded at $15,000, the remaining balance would be ~$112,500. Motion by Mike Kulisheck to fund at $18,000. Seconded by Erma Woodfin. Friendly amendment by Mike Nielsen to fund at $16,500 was declined. The motion fails 3-5. Opposed by Josh Johnson, Olga Human Services & Housing Funding Board SPECIAL MEETING 4 /2 6 /2023 – MINUTES Page 5 Duvall, Christine Koepnick, Pat Hastings, and Mike Nielsen. Motion by Pat Hastings to fund at $16,700. Seconded by Erma Woodfin. Approved 8-0. Discussion: The Board discussed the important role of this program in the community since it provides children who may depend on school meals on the weekdays with food for the weekends. Some Board members felt it was unfair to fund this project higher than the median when higher-ranked projects received a lower percentage of funds. HS-6: Catholic Charities – Senior Services Samaritan House Fort Collins Motion by Josh Johnson to fund at $32,000. Seconded by Michaela Ruppert. Approved 8-0. Adam Molzer reminded the Board that 12 programs remained to be discussed and provided an update of funds: remaining balance is ~$75,577. HS-25: Plan de Salud del Valle – Primary Health Care Services in Fort Collins Motion by Pat Hastings to fund at $0. Seconded by Josh Johnson. Approved 7-1. Opposed by Erma Woodfin. Discussion: Board members noted that City funding would make up only a small portion of this organization’s total budget and that the funds could have a greater impact on another organization or program. HS-36: The Quarter Project – The Quarter Project of Northern Colorado Motion by Pat Hastings to fund at $15,000. Seconded by Olga Duvall. Approved 6-1-1. Opposed by Mike Kulisheck. Erma Woodfin abstained. Discussion: Some Board members felt funds could be better utilized by organizations addressing urgent needs in the community. Other Board members argued for the long-term investment of this program, stating the importance of the educational STEM opportunities it provides to children who may not otherwise have access. The Board also discussed the importance of balancing fund distribution to support both urgent needs and long-term investments in the community. HS-28: Rocky Mountain Youth Medical & Nursing Consultants – Health & Wellness Centers Motion by Josh Johnson to fund at $15,000. Seconded by Erma Woodfin. There is a 4-4 tie, and the motion fails. Opposed by Olga Duvall, Michaela Ruppert, Pat Hastings, and Mike Kulisheck. Motion by Olga Duvall to fund at $0. Seconded by Mike Kulisheck. Approved 6-2. Opposed by Christine Koepnick and Erma Woodfin. Discussion: Some Board members expressed concern that this program serves a smaller number of clients than others and that funding could go further elsewhere. The Board also noted the importance of this program since it helps provide healthcare services to children from underserved communities within the Poudre School District. HS-42: Volunteers of America – Handyperson Program Motion by Olga Duvall to fund at $15,000. Seconded by Josh Johnson. Approved 8-0. Human Services & Housing Funding Board SPECIAL MEETING 4 /2 6 /2023 – MINUTES Page 6 HS-13: Ensight Skills Center – Low Vision Rehabilitation Care and Support Services Motion by Michaela Ruppert to fund at $15,000. Seconded by Olga Duvall. Approved 8-0. HS-14: Exceptional Kids – HighPointe Services Motion by Olga Duvall to fund at $15,000. Seconded by Pat Hastings. Approved 5-3. Opposed by Christine Koepnick, Michaela Ruppert, and Erma Woodfin. Discussion: Board members noted that City dollars would not be able to fully fund this project, but that they could be used as a down payment. Adam Molzer explained that the organization would have until September 2024 to use the funds and if they were not able to, they would have to forfeit the funds, which would be reallocated into the 2025 grant cycle. Adam Molzer provided an update of funds: remaining balance is ~$15,577. HS-32: The Arc of Larimer County – Transition Opportunity Scholarship Fund Motion by Pat Hastings to fund at $15,000. Seconded by Olga Duvall. The motion fails 2-6. Opposed by Josh Johnson, Christine Koepnick, Michaela Ruppert, Mike Nielsen, Mike Kulisheck, and Erma Woodfin. Discussion: Board members in support of this project argued that it would be the first of its kind in Northern Colorado and offer educational opportunities to individuals who would otherwise not have access. Board members in opposition noted that it serves the lowest number of clients of all applicants and that students would be required to secure additional funding elsewhere since the program doesn’t guarantee full scholarships. HS-28: Rocky Mountain Youth Medical & Nursing Consultants – Health & Wellness Centers Motion by Josh Johnson to fund at $15,000. Seconded by Erma Woodfin. Approved 7-1. Opposed by Olga Duvall. HS-32: The Arc of Larimer County – Transition Opportunity Scholarship Fund Motion by Josh Johnson to fund at $0. Seconded by Mike Nielsen. Approved 7-1. Opposed by Pat Hastings. HS-16: Feeding Our Community Ourselves – Community Meals Motion by Olga Duvall to fund at $0. Seconded by Christine Koepnick. Approved 8-0. HS-38: The Vegetable Connection – Feeding the Families Motion by Michaela Ruppert to fund at $0. Seconded by Mike Kulisheck. Approved 8-0. HS-11: Early Childhood Council of Larimer County – Professional Development Scholarships for ECE Motion by Pat Hastings to fund at $0. Seconded by Mike Nielsen. Approved 8-0. HS-30: Sproutin Up – Cooking and Lunch Programs Motion by Josh Johnson to fund at $0. Seconded by Michaela Ruppert. Approved 7-0-1. Olga Duvall abstained. HS-20: L’Arche Fort Collins – L’Arche Fort Collins Motion by Erma Woodfin to fund at $0. Seconded by Christine Koepnick. Approved 8-0. Human Services & Housing Funding Board SPECIAL MEETING 4 /2 6 /2023 – MINUTES Page 7 Adam Molzer provided an update of funds: remaining balance is $577. HS-34: The Family Center/La Familia – Family Support Services Motion by Olga Duvall to fund at $43,277. Seconded by Michaela Ruppert. Approved 8-0. Slate Proposals: Motion by Pat Hastings to adopt the recommended funding slate for Human Services true dollars and percentages as discussed and presented. Seconded by Erma Woodfin. Approved 8-0. Adam Molzer applauded the Board members for the work achieved in Housing and Human Services over the last few months and weeks. 10. OTHER BUSINESS Adam Molzer shared that a 360-review of the grant recommendation process will be presented at the next regular meeting on May 10, 2023. 11. NEXT MEETING Wednesday, May 10, 2023 | 5:30 PM | Location: Zoom/Online 13. ADJOURNMENT Josh Johnson adjourned the meeting at 7:12 PM. Minutes were finalized and approved by the Human Services & Housing Funding Board on ____________________ Human Services & Housing Funding Board REGULAR MEETING May 10, 2023 at 5:30 PM Remote/ZOOM DRAFT 5 /10/2023 – MINUTES Page 1 1. CALL TO ORDER • At 5:40 PM the meeting was called to order by Olga Duvall. 2. ROLL CALL • Board Members Present o Olga Duvall, Vice Chair o Christine Koepnick o Erma Woodfin o Michaela Ruppert o Mike Nielsen o Pat Hastings • Board Members Excused o Josh Johnson, Chair o Mike Kulisheck • Staff Members Present o Adam Molzer, Staff Liaison, Social Sustainability – City of Fort Collins o Tamra Leavenworth, Social Sustainability – City of Fort Collins • Guests Present o None For further information, details and insight, and audio recording, resources are available by contacting the HSHF-Board staff liaison. 3. AGENDA REVIEW Olga Duvall read remote session instructions for the Human Services & Housing Funding Board and public attendees. Adam Molzer reviewed agenda. The Board accepted the agenda without modification. 4. COMMUNITY PARTICIPATION None. 5. APPROVAL OF MINUTES None. 6. UNFINISHED BUSINESS None. 7. NEW BUSINESS a. Competitive Process Update and 360-Review • Adam Molzer walked through the activities and follow-up that has occurred since the April 25 and April 26 Human Services & Housing Funding Board REGULAR BOARD MEETING 5/10/2023 – MINUTES Page 2 funding deliberations meetings, as well as the timeline of activities ahead to complete the funding process. He shared a brief analysis of the funding recommendations that the Board created, including average amounts recommended for human service proposals. • Adam Molzer facilitated the group through an examination of the 2023 competitive grant process to gather feedback, critique, and ideas from the Board members. The group addressed the grant application and questions, support materials, review meetings with the Affordable Housing Board and the human service applications, housing presentations, the scorecard and criteria, the funding protocol, and the deliberation meeting. Notes were documented by staff and will be considered as potential improvements for the FY24 grant process. b. Recess for Summer The Board agreed to recess their meetings until September 2023 unless pressing business arises. c. New Board Member Recruitment The HSHF Board currently has one vacancy for which there have been several applicants. Interviews will be conducted soon, and City Council will determine appointments this summer. 8. BOARD MEMBER REPORTS None. 9. STAFF REPORTS Adam Molzer shared that there is a new industry partnership called the Northern Colorado Nonprofit Sector Partnership that launched in January 2023 and had it’s first quarterly meeting on May 5. 10. OTHER BUSINESS Adam shared photos that grantees submitted as part of their Q2 Beneficiary Reports. He also shared a client story from Volunteers of America’s Handyperson Program and shared a short video of City employees volunteering with the program. 11. NEXT MEETING Wednesday, September 13, 2023 | 5:30pm | Location: TBD 13. ADJOURNMENT Olga Duvall adjourned meeting at 7:16 PM. HOME-ARP Program Presented to: Human Services & Housing Funding Board August 2023 - Recording Development of Affordable Rental Housing 2HOME-ARP Allocation Plan Use of HOME-ARP Funding (approved by HUD) Funding Amount Development of Affordable Rental Housing $2,000,000* Supportive Services $400,000 Administration & Planning $228,410 Total HOME-ARP Allocation $2,628,410 *$800,000 has already been committed to a housing project approved by City Council during the 2023 Human Services and Housing Competitive Process in June 2023. Funding available through two application processes: 1.Development of Affordable Rental Housing – Commit funds to systemic solutions to increase housing inventory. This will be a rolling application process until the funding amount has been fully committed to eligible projects. 2.Supportive Services – Commit funds to supportive services to assist persons currently experiencing homelessness and to prevent those precariously housed from becoming homeless. This will be a one-time application process. Allocation Plan Approved by HUD in October 2022. 3ELIGIBLE HOUSING USES PRODUCTION / PRESERVATION OF AFFORDABLE HOUSING▹Construction of new rental housing units;▹Acquisition of existing housing units;▹Re-investment/refinancing of existing affordable housing with the goal of serving lower incomes. 4QUALIFYING POPULATIONS Veterans and families with a veteran member that meet one of the other criteria Homeless (McKinney-Vento definition) At-risk of homelessness (McKinney-Vento definition) Fleeing/attempting to flee: •Domestic violence •Dating violence •Sexual violence •Trafficking Other populations for whom supportive services would prevent homelessness or serve those at greatest risk of housing instability 5HOME-ARP Production Housing Goals 1.An estimated 8 rental units supported with $2M HOME-ARP funding investment ($250,000 per unit subsidy). 2.Development of 8 units of affordable rental housing serving households below 30% AMI and made available to all target populations. 3.Priority preference for multi-family developments in which the use of HOME- ARP funds can leverage other funding resources, such as LIHTC subsidy so they could create an additional 70-80 units of affordable rental housing, 30 of which could serve households below 50% AMI, which are identified by HUD as “other populations at risk of homeless.” HOME-ARP Affordable Rental Housing proposals will also be assessed according to alignment with and ability to advance the objectives in the City’s Housing Strategic Plan. The following goals were approved in the HOME-ARP Allocation Plan: 6Affordable Rental Housing Fund ▹Application was deployed on July 17, 2023.▹Proposal submissions will be accepted until funds are fully committed (first come, first served basis).▹At the close of each monthly submission period (15th day of the month), all applications received will be reviewed by City Staff for completeness, eligibility, and their ability to deliver on the priority needs identified in the HOME-ARP Allocation Plan.▹The HSHF Board is responsible for making funding recommendations to City Council for their approval. Remaining Housing Funds: $1,200,000.00 This is a rolling application process until the funding amount has been fully committed to eligible rental housing projects. 7Project Requirements – Evaluation Criteria Meets our HOME-ARP Development Goals:▹8 units of affordable rental housing serving households <30% AMI.▹Projects that can leverage other funding resources to create an additional 70-80 units of affordable rental housing. ▹Units in multi-family developments that are available to serve all qualified populations will be prioritized over units that are developed to serve specific populations. Timeliness:▹Conceptual Review has been completed.▹Project is ready to begin within 6 months of proposal submission. In the event that multiple projects compete for the same funding, projects will be further reviewed for the total amount of affordable units they provide to the community for households earning <50% AMI. 8Project Requirements – Evaluation Criteria Each grant application will be evaluated by staff based on the following criteria:▹Alignment with the HOME-ARP Allocation Plan Goals▹Alignment with the City’s Housing Strategic Plan▹Market Analysis▹Affordable Housing Underwriting Guidelines▹Developer Capacity, Experience and Prior Performance▹Project is intended to begin within the next 6 months▹List of all qualified populations served by the project▹Referral Process for selection of qualified populations 9Funding Recommendations ▹Review each application received against the HOME- ARP Allocation Plan goals. ▹Determine whether the application meets the requirements and should receive recommended funding.▹Issue recommendation for/against the project based on the full funding request. ▹Only projects recommended for funding will be taken to City Council for review and approval. Description of the role/expectations of the HSHF Board: 10Funding Recommendations Schedule Proposals Submitted Monthly By: HSHF Board Funding Recommendation Public Comment Period Council Approval (dates could change) August 15, 2023 September 13, 2023 30-Day Public Notice November 21, 2023 September 15, 2023 October 11, 2023 November 21, 2023 October 15, 2023 November 8, 2023 December 19, 2023 November 15, 2023 December 13, 2023 February 6, 2024 December 15, 2023 January 10, 2023 February 20, 2024 For More Information, Visit THANK YOU! https://www.fcgov.com/socialsustainability/recovery Social Sustainability 222 Laporte Ave. PO Box 580 Fort Collins, CO 80522 970.221.6734 Home-ARP: Development of Affordable Housing Staff Summaries & Comments Affordable Housing Applications CARE Housing – Heartside Hill Amount of request: $1,200,000 Terms: Due on Sale Loan – 5% simple interest on principle at payoff Total Project Cost: $39,791,153 ($552,655 per unit total development costs) This request is from CARE Housing for $1,200,000 for development costs associated with the construction of 72 new multi-family rental units that will serve low-income households between 30%- 60% of the Area Median Income. This is in addition to $800,000 in HOME-ARP funds approved by Council in the 2023 Spring Competitive Process. Comments: • This proposal addresses the following strategies of the City’s Housing Strategic Plan: o Increase housing supply and affordability. o Increase housing diversity and choice. o Increase stability and/or renter protections. o Increase accessibility. • Alignment with HOME-ARP Housing Development Goals: o 8 units targeting severely low-income households (<30% AMI) o Leverages funding from LIHTC and other funding sources to provide 72 new multi-family rental units that will serve qualified populations earning between 30%-60% AMI. o HOME-ARP units will be made available to any of the HUD-targeted qualifying populations. • This project applied for funding in the Spring 2022 Competitive Process. It was later removed from consideration when it was identified to receive funding with City ARPA funds. • This project applied for funding in the Spring 2023 Competitive Process. The project was identified as eligible for HOME-ARP funds and received a full funding recommendation from the HSHF Board in the amount of $800,000. • Since the original application in the Spring of 2022, the scope of the project has changed as follows: o Total unit number has increased from 64 to 72. o Total units targeting severely low-income households (<30% AMI) increased from 5 to 8. o Total project cost has increased from $27 million to $39.8 million, with a development cost of $552,655 per unit. • CARE Housing requested $5.67M from the Colorado Department of Local Affairs HOME Investment Partnership HUD Colorado (DOLA) and received a final funding allocation of $3.95M from the State Housing Board. This, along with increased development costs, created an additional funding gap for the project. CARE adjusted their project proforma and increased the number of 30% units in alignment with the HOME-ARP Allocation Plan to address the remaining. • If funded, this project’s “Readiness to Proceed” is “Within 6 months” as the project has already received commitments from the following funding sources: o 4% Low Income Housing Tax Credits o Federal and State Tax Credit Equity o Private Activity Bond (PAB) allocation from the State o Larimer County o City of Fort Collins ARPA and HOME-ARP o Colorado Department of Local Affairs HOME Investment Partnership HUD • The project is still waiting on additional funding commitments of nearly $1.9 million before moving forward ($1.2 million City of Fort Collins HOME-ARP and $70,000 City of Fort Collins 40% AMI Fee Credits). • Once all fundings sources are secured, the project anticipates commencement of construction in February 2024. If not funded, the risk to the project is a one-year delay, additional cost escalation and the loss of the $1.1 million City ARPA commitment. Total City investment to date is $1,100,000 in ARPA funds), $800,000 in HOME-ARP funds & $202,300 in fee waivers. If all pending requests are funded, the total City investment in the project would be $3,372,300 for a total of $46,838 per unit. Powered by ZoomGrants™ and Email This Preview Save as PDF Print Close Window A▲▼ City of Fort Collins Social Sustainability Social Sustainability HOME-ARP Housing (Rolling Application) Deadline: 12/31/2025 CARE Housing Heartside Hill Jump to: Pre-Application Application Questions Documents $ 1,200,000.00 Requested Submitted: 8/15/2023 2:50:24 PM (Pacific) Project Contact Kim Iwanski kiwanski@carehousing.org Tel: 970-218-1829 Additional Contacts Tzentner@carehousing.org CARE Housing 1303 W Swallow Rd Fort Collins, CO 80526 United States Executive Director Steve Kuehneman skuehneman@carehousing.org Telephone970-282-7522 Fax Web www.CAREHOUSING.org Pre-Application top 1. Which describes the "type" of applicant for this project (the lead applicant if more than one)? 2. What specifically are you seeking funding for? 3. Provide a brief description of the PROJECT/PROGRAM for which you are requesting funding. CARE Housing is requesting funding to support the new construction of Heartside Hill Apartments (HHA), a 72-unit multifamily rental community that will anchor a neighborhood campus in southeast Fort Collins. CARE Housing is the master developer for the Heartside Hill community campus, consisting of 8.84 acres, which was donated by Heart of the Rockies Christian Church, Disciples of Christ (HRCC). Once built, the Heartside Hill campus will holistically address the most pressing needs in our local community—access to affordable housing options, affordable early childhood education, and vital community support services. The 72 multifamily rental units that are the focus of this request will serve households whose income is 30 to 60 percent of the area median income. HHA will be configured as six multifamily, three-story, 12-plex building apartments. The unit mix will include up to (6) one-bedroom, (30) two-bedroom, (30) three-bedroom, and (6) four-bedroom apartments. A resident community center onsite will provide a large space for resident gatherings, resident support services, and youth afterschool programs. Public Organization Community Housing Development Organization (CHDO) Private For-Profit Organization Developer Private Non-Profit Organization Housing acquisition Land acquisition New construction costs Rehab of existing rental housing HHA is intentionally designed to create an environment that enhances the physical, emotional, and mental health of our residents. These homes will be situated adjacent to a park with a playground, community gardens, a clubhouse, community gathering spaces, and open natural areas. The apartment design includes continuous insulation, insulated doors and windows, and highly energy-efficient MEP systems, resulting in compliance with Enterprise Green Communities standards (EGC), Zero Energy Ready Homes certification requirements (ZERH), Fort Collins 2021 Building Code, and Fort Collins Integrated Design Assistance Program (IDAP) metrics. All buildings will be “electrification ready” to comply with local code standards and are designed to be ready for the installation of photovoltaic electricity generation systems. These apartment homes are part of a collaborative approach by multiple local nonprofit organizations to address urgent needs in our community: 1. Fort Collins Habitat for Humanity (Habitat) will build nine single-family homes for affordable homeownership, serving households whose income is between 45 to 80 percent of the area median income. 2. L’Arche Fort Collins will build two congregant homes for individuals with intellectual or developmental disabilities along with assistants who live with and support them in their daily activities. 3. A community building will support an early childhood education center operated by Teaching Tree, with a high preference for serving onsite qualifying residents. 4. The rest of the community building will provide a resident community center that will include youth afterschool services and resident support services. The Heartside Hill campus will create a variety of housing options for approximately 250-275 individuals whose income is between 30 percent to 80 percent of the area median income and provide affordable, quality childcare to over 100 children. The services offered at Heartside Hill will be available to disproportionately impacted groups and will create greater economic opportunities for those who participate. The primary financing tool will be the Low Income Housing Tax Credit (LIHTC) program, coupled with other funding sources, including this request. CARE was awarded low-income housing tax credits from the Colorado Housing and Finance Authority (CHFA) in November 2022. We were also awarded $2 million from Larimer County through the American Rescue Act funding. 4. What is the location of your project? Provide census tract, parcel number, and address, if known. Census Tract: 10.09; Parcel number: 9612431901; Address: 6501 Brittany Street, Fort Collins, Colorado 80525 5. Does the applicant have site control or a purchase option on the property? 6. What is the current zoning of the subject property? Has this been verified with the City of Fort Collins, who was contacted? Zoning: LMN, verified by Todd Sullivan 7. What is the permitted use "category" of your project? 4.5.B.2.a.5. Multi-family dwelling 8. Development Status: Has the project had a Conceptual Review? 9. If answered "yes" to question #8 and the project requires a Conceptual Review, what is the name of the City Planner taking you through the process? (If not applicable, enter N/A). Shawna Van Zee 10. If answered "no" to question #8, and the project requires a Conceptual Review, why has the project not been through the process? (If not applicable, enter N/A). N/A 11. If this project is for the development or acquisition of housing, will it meet any of the HOME-ARP eligibility requirements by providing housing units to any of the following qualifying populations? [check all that apply] Yes No N/A Yes No N/A Persons Experiencing Homelessness Persons at risk of homelessness Victims of domestic violence, stalking or human trafficking 12. Is it anticipated that this project will begin within the next 6 months? Households at risk of homelessness and housing instability None of the above Yes No Application Questions top 1. SAM (System for Award Management) activation or registration using DUNS number at www.sam.gov. List your current status—active; no active exclusion records reported; in process, etc. (Begin this process more than two weeks prior to application). Active 2. Based on your organization's most recent audit, were there any outcomes or findings that changed the way the organization does business? If yes, please cite examples from the audit that helped improve performance. There were no findings in our most recent audit from November 2022. 3. Summarize what you would like the HOME-ARP funds to pay for. Discuss how funding meets the strategies and goals outlined in the Housing Strategic Plan (https://www.fcgov.com/housing/files/20-22913-housing-strategic-plan- no-appendices.pdf?1618855189). List the cost of each item and PRIORITIZE them. CARE Housing is asking for additional HOME-ARP funds to help us pay for impact fees and water tap fees. Increases in development fees have added to our cost burden. Our most significant cost increase is in the water tap fees, which increased over $440,000 in one year due to the Fort Collins-Loveland Water District’s 2023 fee increases. Due to development review delays, the water infrastructure will not be completed until January 2024, and we are anticipating another 15% increase in water tap fees. The projected total project cost of impact and tap fees = $4,135,208 How Heartside Hill meets the strategies and goals of the Housing Strategic Plan: Heartside Hill Apartments supports the City’s goal to increase the supply of affordable housing by adding 72 affordable rental units to a 3-acre section of the overall development plan of 9 acres. The unit mix includes 1-bedroom, 2-bedroom, 3-bedroom and 4-bedroom homes, to provide homes for a range of household sizes. The Heartside Hill campus will be comprised of a diversity of housing types including CARE’s multi-family apartment homes, 9 Fort Collins Habitat for Humanity single family ownership homes, and 2 L’Arche Fort Collins homes for individuals with intellectual disabilities. This development promotes inclusivity, housing diversity, and affordability as outlined in the Housing Strategic Plan. The apartment homes are targeted to people with household incomes between 30%-60% of the area median income. The monthly rent will equate to approximately 30% of a household’s income. The apartments at Heartside Hill are designed to create an environment to enhance physical, emotional, and mental health for residents. They will be built with durable and allergen-friendly materials, as well as energy efficient and low-water systems. Other amenities will include covered bicycle storage, community Wi-Fi, and washers/dryers in each unit. Heartside Hill’s campus design will offer outdoor play areas for children, walking paths, gathering spaces, and community gardens. Proposed services offered at the campus community building will include affordable childcare and youth after-school programs, in addition to a variety of resident services and shared community space. 4. Provide the total number of units to be assisted with HOME-ARP funds, the demographic served, AMI levels targeted, etc.: This development will provide 72 rental homes for families, seniors, and individuals with disabilities who earn 30-60% of the area's median income. 5. What is the total cost for this PROJECT/PROGRAM? $39,791,153.00 6. What is the total development cost per unit? $552,655 per unit 7. For housing projects, indicate the number of housing units in the project according to income categories. 8 0-30% AMI 14 31-50% AMI 8. How will the project receive referrals for occupancy from qualifying HOME-ARP population? CARE receives direct referrals from Catholic Charities, Crossroads Safehouse, Homeward Alliance, the Family Housing Network, Project Self-Sufficiency, and the Avery Center. In addition, we will receive referrals from Housing Catalyst for Project Based Voucher units. 9. Why is this PROJECT/PROGRAM needed in our community? If applicable, provide information from market studies or other supporting documentation. The 72 multifamily rental units that are the focus of this request will serve households whose income is 30 to 60 percent of the area median income. The demand is strong for income-restricted housing in the primary market area (PMA). According to the market analysis conducted by Prior & Associates, the overall surveyed vacancy rate in the PMA was 2.4%, well below a balanced threshold and reflective of pent-up demand for rental units. Additionally, the LIHTC properties were 100% occupied with waitlists of 75 applicants and a four-year wait, indicating demand is equally as high for income-restricted housing. The market study expects an absorption rate of 20 units per month, reaching stabilized occupancy in 3.5 months, without concessions. Proximity to existing tax credit developments: There are 35 LIHTC projects in the PMA, which is equal to the boundary of the City of Fort Collins. The other 27 non-age restricted LIHTC properties have 2,351 units. The 2 closest LIHTC properties (Eagle Tree-36 units and Provincetowne Green- 85 units) are managed by CARE and are consistently at or near 100% occupancy. 10. Have you received, applied for, or anticipate applying for Low Income Housing Tax Credits (LIHTC) for this project? If yes, please provide details (4% or 9%; anticipated approval date, etc.). Yes, CARE Housing applied for and received Low Income Housing Tax Credits (LIHTC) from CHFA (Colorado Housing and Finance Authority) in November 2022. We are receiving Federal 4% LIHTC and State Affordable Housing Tax Credits. 11. Is this project dependent on commitments or allocations of other funding sources? If so, please provide details: Yes. Below is a list of funding sources for the project. Committed Funding Sources Loans: $20,332,000 45L Grant: $313,169 Federal Tax Credit Equity: $13,373,364 State Tax Credit Equity: $4,735,328 Deferred Developer Fee: $1,316,992 Larimer County: $2,000,000 City of Fort Collins Fee Credits: $132,300 City of Fort Collins ARPA and HOME-ARP: $1,900,000 Colorado Division of Housing $3,950,000 Pending Funding Sources City of Fort Collins 40% AMI Fee Credits: $70,000 City of Fort Collins HOME-ARP Funds (this application): $1,200,000 12. Do you plan to apply for other City resources, such as Private Activity Bond allocation or Fee Relief, for this project? CARE Housing has applied for and been awarded fee waivers for the 30% AMI units from the City of Fort Collins. We also have applied for 40% affordable housing fee waivers from the City and are awaiting approval of those. We applied for $4 million in Private Activity Bonds from the City and those were assigned to CHFA for issuance to CARE Housing. 13. Briefly outline the timetable for the commitment and expenditure of the funding being requested (include other project factors, such as rezoning, construction schedule, or application(s) for funding): Below is an outline of key dates for the project. Completed: Planning and Zoning Approval: September 2022 CHFA Tax Credit Approval: November 2022 50 51-60% AMI 61-80% AMI 72.0072.00 TOTAL Division of Housing Funding Approval: June 2023 Projected timeline: Final development approval from City of Fort Collins: September 2022 Horizontal (site infrastructure) construction begins: September 2023 Pending approval of City of Fort Collins HOME-ARP funding: October 2023 LIHTC Closing: January 2024 Vertical (buildings) construction begins: February 2024 Construction completed: Spring 2025 14. To help promote the efficient use of federal, state, and local funding, please describe how the PROJECT/PROGRAM will maintain short-term, long-term, or permanent affordability: Heartside Hill Apartments will be deed restricted for permanent affordability. 15. Describe how your project incorporates Green Building, LEED, Enterprise Green Communities, Energy Star or Energy Efficient aspects. Please include any consultation with the City of Fort Collins Utilities, including the Integrated Design Assistance Program (IDAP). This project incorporates environmental stewardship and energy efficiency to comply with the following program standards: 2020 Enterprise Green Communities (EGC 2020), Energy Star, Zero Energy Ready Homes (ZERH), and the City’s Integrated Design Assistance Program (IDAP). We have hired an energy consultant (Energetics) as part of our development team to assist us in meeting these certification requirements. In addition to the above, we are designing the apartment buildings to be photovoltaic ready. We are pursuing all rebate and incentive programs to further the implementation of our energy-related goals. Examples include: the Energy Outreach Colorado Affordable Housing Rebate Program, the City of Fort Collins Integrated Design Assistance Program (IDAP), and solar-ready incentives. 16. Who will be the PROJECT MANAGER? Provide name, address, email, and phone number. (Enter N/A if not applicable). Kim Iwanski 970-218-1829 1303 W Swallow Rd, Bldg 11, Fort Collins, CO 80526 kiwanski@carehousing.org 17. Who is the DEVELOPER for this project? (Enter N/A if not applicable). CARE Housing 18. Has this DEVELOPER completed other projects in the City of Fort Collins. If so, please list: CARE Housing is Northern Colorado’s largest local, private nonprofit affordable rental housing developer and housing service provider. During its 30 years in business, CARE has developed seven affordable housing communities in Northern Colorado, providing homes to over 950 individuals, half of whom are children. Six of those communities are in Fort Collins and one is in Windsor. Fort Collins projects: Greenbriar (1994): New construction, 40 units Swallow (1996): New construction, 40 units Eagle Tree (1998): New construction, 36 units Windtrail (2001): New construction, 50 units Fairbrooke Heights (2002): New construction, 36 units Provincetowne Green (2011): New construction, 85 units Swallow Road Apartments Acquisition and Rehab (2022): Rehabilitation of 84 units (44 acquired from Housing Catalyst in 2021) 19. If the project is new construction or rehab, please list and provide a brief explanation of similar projects you have completed: Heartside Hill Apartments is a new construction project. CARE Housing has developed six other new construction projects. Greenbriar (1994) Swallow (1996) Eagle Tree (1998) Windtrail (2001) Fairbrooke Heights (2002) Provincetowne Green (2011) 20. If you answered question #19, attach evidence of your organization's capacity and experience to undertake and complete the project within the established timetable and budget (upload financial commitment(s) from other funding sources): The CARE Housing development and property operations team has dedicated experienced staff who have the capacity to complete this project within the established timeframe and budget. Key staff are as follows: Steve Kuehneman, Executive Director, has been with CARE Housing since 2018. Steve brings 15 years of local, affordable housing experience to this project. In his time at CARE Housing, the organization has successfully completed an extensive rehabilitation project at an 85-unit property, Provincetowne Green, and a Uniform Federal Accessibility Standards (UFAS) project, which includes City of Fort Collins funding. Steve was heavily involved with all facets of the Swallow Road Apartments rehabilitation project, which was completed in 2022. Swallow Road Apartments funding sources included low-income housing tax credits, private activity bonds, City of Fort Collins CDBG, and Division of Housing HOME. Kim Iwanski, Director of Housing Development, has been with CARE Housing since June 2021. She served as the project manager on the Swallow Road Apartments rehabilitation project. Kim will be integral in all facets on Heartside Hill including submittal of funding applications, design/construction oversight, and compliance through the close-out process. Tatiana Zentner, Housing Development Project Manager, has been on CARE Housing staff since 2019. As property manager of three LIHTC communities she has extensive experience in compliance and asset management. Tatiana managed resident relocation and compliance on the Swallow Road Apartments rehabilitation project. She served in an essential role throughout the process, from the rehab design through the apartment inspection and post-construction warranty period. Bob Pawlikowski, Director of Finance, has been with CARE Housing since 2017. Bob has managed the accounting and applications for payment for all projects listed above. Bob has led the cost certification, loan conversion and close-out process for Swallow Road Apartments. Bob will play a similar role on the Heartside Hill project. Jacki Ellis, Director of Property Management and Operations, has over 15 years of experience in property management including 10 years with CARE Housing. Jacki has extensive experience in compliance including HOME, CHFA and USDA RD. Jacki has successfully managed tenant lease-up for CARE Housing new construction projects through the years. Jacki will be involved with compliance, lease-up, and communication throughout this project. In addition to CARE Housing staff, an owner’s representative, G2 Strategies, was hired in Spring 2022 to support the team with project estimating review, construction management, oversight of budgets/schedules/disbursements, quality control and closing out the project. CARE Housing has contracted with the following experienced consultants to assist with the Heartside Hill project: Tax Credit Consultant: Morgan and Associates Architect: alm2s General Contractor: Palace Construction Land Planner/Landscape Architect: TB Group Civil Engineer: Highland Development Services Energy Consultant: Energetics Traffic Engineer: Delich Associates Market Analyst: Prior and Associates 21. If the project is new construction, or substantial rehab, please explain how it will comply with Fair Housing and Section 504 Accessibility requirements. An affirmative fair housing marketing plan will outline the method for non-discrimination and equal housing opportunity. Design and construction of the site will conform to 504 Accessibility requirements and Uniform Federal Accessibility Standards (UFAS). 22. If this project includes rehabilitation of currently occupied property, will it meet the CDBG/HOME requirements of the Uniform Relocation Act (URA)? Answer Yes/No/NA for each. View the URA Criteria at www.fcgov.com/socialsustainability/cpdocuments Applicant must attach current occupant census and proof that General Information Notices (GINs) were delivered to all occupants. Failure to attach these items will result in disqualification of the application for federal assistance. 23. If this project includes acquisition of real property, will it meet the following CDBG/HOME requirements of the Uniform Relocation Act (URA)? Answer Yes/No/NA for each. View the URA Criteria at www.fcgov.com/socialsustainability/cpdocuments Applicant must attach current occupant census and proof that General Information Notices (GINs) were delivered to all occupants. Failure to attach these items will result in disqualification of the application for federal assistance. N/A General Information Notice with proof of delivery N/A Current Tenant Census 0.000.00 TOTAL 24. Is there any additional information about the proposed PROJECT/PROGRAM for which you are requesting funds that you deem helpful for us to know? If so, please explain: CARE Housing has experienced increased development costs on this project since or original project budget. Like most developers, we are experiencing cost increases on this project. The last three years have brought unprecedented challenges in the construction industry. The cost of most construction materials have increased significantly, while the supply still lags behind demand. Increases in development fees have added to our cost burden. Our most significant cost increase is in the water tap fees, which increased over $440,000 in one year due to the Fort Collins-Loveland Water District’s 2023 fee increases. Due to development review delays, the water infrastructure will not be completed until January 2024, and we are anticipating another 15% increase in water tap fees, which would result in more than a $466,000 increase in our tap fee costs. N/A General Information Notice with proof of delivery Yes Voluntary Arm's Length Transaction N/A Current Occupant Census N/A Not currently under contract for purchase 0.000.00 TOTAL Documents top Documents Requested *Required?Attached Documents * BOARD OF DIRECTORS APPROVAL (Upload: can be meeting minutes, email approval, or brief memo) BOD_Approval BOD_Approval_Email_CARE BOARD OF DIRECTORS QUALIFICATIONS/RELEVANCY (Upload) BOARD OF DIRECTORS QUALIFICATIONS/RELEVANCY IRS 501(c)3 DESIGNATION if applicant is a nonprofit (Upload the first page) IRS 501(c)3 DESIGNATION SAM (System for Award Management) Registration/Activation Information (Upload) SAM (System for Award Management) Registration/Activation Information Certificate of Good Standing from Secretary of State (dated 2022 or 2023) (Upload) Certificate of Good Standing from Secretary of State AUDIT--most recent (Upload) AUDIT PROJECT OPERATING BUDGET WORKSHEET (Download template here) Project Operating Budget Worksheet LETTER OF FINANCIAL COMMITMENT (Upload letters from funders, LOI, etc.) CDOH LOC ANB_LOC_Term Sheet MHEG_ Commitment Letter Fee Credit Award_1 Fee Credit_2 Fee Credit_3 County Board_Resolution_Commitment Letter City_ARPA City_HOME ARP CHFA_Award Notification MARKET ANALYSIS (Upload) MARKET ANALYSIS MARKET ANALYSIS 2023 Budget: Funding Sources/Revenues (Download template here) Funding Sources_Worksheet SOURCES AND USES WORKSHEET (Download template here) Housing Sources and Uses_Update 8.28.23 Applicant Name: CARE Housing Funding Year/Cycle: 2023 Median Income # of Units Sq. Ft.Monthly Rent Total Rent 1 Bdrm 30%2 650 $1,261.00 $30,264.00 Management Fee $104,330.00 1 Bdrm 50%2 650 $971.00 $23,304.00 On-site Personnel Payroll & Benefits $33,540.00 1 Bdrm 60%2 650 $1,184.00 $28,416.00 Legal and Accounting $27,950.00 2 Bdrm 30%1 777 $1,577.00 $18,924.00 Other -Overhead $71,460.00 2 Bdrm 40%1 777 $1,577.00 $18,924.00 2 Bdrm 50%1 777 $1,577.00 $18,924.00 2 Bdrm 50%1 777 $1,163.00 $13,956.00 2 Bdrm 60%7 777 $1,419.00 $119,196.00 2 Bdrm 30%1 833 $1,577.00 $18,924.00 2 Bdrm 40%1 833 $1,577.00 $18,924.00 2 Bdrm 50%1 833 $1,163.00 $13,956.00 2 Bdrm 60%10 833 $1,419.00 $170,280.00 2 Bdrm 30%1 844 $1,577.00 $18,924.00 2 Bdrm 50%1 844 $1,163.00 $13,956.00 2 Bdrm 60%4 844 $1,419.00 $68,112.00 3 Bdrm 30%2 1005 $2,270.00 54480.00 3 Bdrm 40%2 1005 $2,270.00 $54,480.00 3 Bdrm 50%1 1005 $2,270.00 $27,240.00 3 Bdrm 60%25 1005 $1,637.00 $491,100.00 Total Administrative Expenses $237,280.00 4 Bdrm 30%1 1162 $2,560.00 $30,720.00 4 Bdrm 40%1 1162 $2,560.00 $30,720.00 Utilities (Owner paid)$50,310.00 4 Bdrm 50%1 1162 $2,560.00 $30,720.00 Trash Removal $13,750.00 4 Bdrm 60%3 1162 $1,822.00 $65,592.00 Fire & Liability Insurance $1,380,036.00 Other-Wifi $2,400.00Total Rent Income EXPENSESINCOME Administrative Expenses Project Operating Budget This form is to be used for new construction or redevelopment rental proposals (including assisted living) Operating Expenses *P.U.P.A. = Per Unit Per Annum Expenses Total Operating Expenses $66,460.00 $8,520.00 Maintenance $25,800.00 Repairs $60,200.00 Groundskeeping (include snow removal)$23,220.00 Reserve Funds Other $91,394.00 Total Maintenance $109,220.00 $1,288,642.00 Operating reserves $375,000.00 Replacement reserves $21,600.00 Insurance $36,980.00 $632,722.00 Housing Catalyst SLP Fee $6,480.00 $34,637.00 TOTAL ANNUAL EXPENSES $853,020.00 NET OPERATING INCOME $736,600.00 CASH FLOW (Net Operating Income - Total Annual Debt Services) $99,108.00 $637,492.00 P.U.P.A. Expenses*$6,427.00 Other Income: Other Income: Other Income: Other Debt Service (specify) 2nd Mortgage Maintenance Other Income: Laundry Income Parking Income Total Annual Debt Service ANNUAL DEBT SERVICE Total Income Less Vacancy Annual Effective Gross Income 1st Mortgage (Vacancy Rate: 7%) *P.U.P.A. = Per Unit Per Annum Expenses Affordable Housing Proposal - HOME ARP (rolling app) Project Name:_____HEARTSIDE HILL_______________________________ Committed Funds (A) + Anticipated Funds (B) = Total Funds (C) $13,373,364 + = $13,373,364 $0 + = $0 + $0 = $0 $313,169 + $0 = $313,169 $13,686,533 $3,950,000 + $0 = $3,950,000 $4,735,328 + = $4,735,328 + = $0 + = $0 $8,685,328 $132,300 + $70,000 = $202,300 $1,900,000 + $1,200,000 = $3,100,000 $2,000,000 + = $2,000,000 + $0 = $5,302,300 $9,100,000 + $950,000 = $10,050,000 $0 + $750,000 = $750,000 + = $0 + = $0 $10,800,000 + = $0 + = $0 + = $0 + = $0 Larimer County Federal Total = State Total = Local Total = Local Sources (includes government and non-foundation sources) MHEG CMF First Mortgage FUNDING SOURCES/REVENUES Foundations, etc. Total = Federal Government Sources State Government Sources Bank Financing Federal LIHTC Equity Solar ITC Equity 45L Credit Equity Colorado Division of Housing City of Fort Collins fee waivers City of Fort Collins State LIHTC Equity Description Fundraising/Donations/Etc. Page 1 $0 + $1,316,992 = $1,316,992 + = $0 + = $0 + = $0 $1,316,992 $39,791,153 Fees for Services Total = Fundraising Total = Fees for Services Use this section if you want to explain information listed in your budget. Deferred Developer Fee Total Revenues from all Categories = Narrative Page 2 Applicant Name: CARE Housing Funding Year/Cycle: HOME-ARP (Rolling App) 2023 Amount Source A.Acquisition Costs 1. Land 2. Existing Structures 3. Appraisals $10,140.00 $10,140.00 Perm Loan 4. Geotechnical, environ, traffic studies $23,262.00 $23,262.00 Perm Loan 5. Survey $4,901.00 $4,901.00 Perm Loan 6. Other - Market study $8,000.00 $8,000.00 Perm Loan 7. Other B.Construction Costs 1. Building Permit Fees $93,346.00 $93,346.00 City Fee Credits 2. Tap/Impact Fees $4,135,208.00 $1,200,000.00 $2,935,208.00 City Funds, Perm Loan 3. On-Site Infrastructure $4,087,991.00 $4,087,991.00 Larimer County, TC Equity 4. Construction/Rehab $19,518,979.00 $19,518,979.00 CDOH, Perm Loan, TC Equity 5. Landscaping- incl in construction budget 6. Contingency $2,241,509.00 $2,241,509.00 TC Equity 7. Other - General Contractor $2,281,421.00 $2,281,421.00 Perm Loan 8. Other- construction Acctg $25,000.00 $25,000.00 Perm Loan C.Design Fees 1. Architect, landscape design Fee $234,295.00 $234,295.00 TC Equity 2. Engineering Fee $206,681.00 $206,681.00 TC Equity 3. Other - legal $140,000.00 $140,000.00 TC Equity 4. Other - Energy consultant $60,351.00 $60,351.00 TC Equity 5. Other - Soft Cost Contingency $125,000.00 $125,000.00 TC Equity D.Interim Costs 1. Construction Insurance $798,527.00 $798,527.00 TC Equity 2. Const. Loan Origin Fee $140,000.00 $140,000.00 Perm Loan 3. Construction Interest $1,176,670.00 $1,176,670.00 TC Equity 4.Consultant Fee-Housing Catalyst $125,000.00 $125,000.00 TC Equity 5. Taxes during Construction 6. Other - Perf & pmt Bonds $121,035.00 $121,035.00 TC Equity 7. Other- misc fees $93,100.00 $93,100.00 TC Equity E.Perm. Financing Fees/Deposits Sources and Uses of Funds Worksheet Other FundingCity Funds Request Total Project CostProject Activities 1. Loan Fees & Expenses $225,900.00 $225,900.00 TC Equity 2. Attorney Fees $77,000.00 $77,000.00 TC Equity 3. LIHTC Fees $118,299.00 $118,299.00 TC Equity 4. Developer's Fee $3,117,038.00 $3,117,038.00 Deferred Developer Fee, TC Equity 5. Operating & Rent-up Reserve $455,000.00 $455,000.00 TC Equity 6. Other - Tax Credit Consultant - incl in developer fee 7. Other - Cost Certification, green cert $12,926.00 $12,926.00 TC Equity 7. Other F.Tenant Relocation 1. Temporary Relocation 2. Permanent Relocation G.Project Management 1. Marketing $2,500.00 $2,500.00 TC Equity 2. Project Management 3. Consultants - Organization Costs $126,332.00 $126,332.00 TC Equity 4. Other - Cost Estimating $5,742.00 $5,742.00 TC Equity 5. Other H.Homebuyer Assistance 1. Downpayment Assistance 2. Closing Costs 3. Interest Rate Buy Down 4. Case Management 5. Other 6. Other I.Tenant Based Rental Assistance 1. Rent Payments 2. Case Management 3. Other J.General Administration 1. Salaries/Benefits 2. Operating/Supplies 3. Travel 4. Audit 5. Environmental Review/Assessment 6. Environmental Notification Total Costs $0.00 $0.00 $0.00 $39,791,153.00 $1,200,000.00 $38,591,153.00 RENTAL MARKET STUDY HEARTSIDE HILL APARTMENTS 6501 BRITTANY STREET FORT COLLINS, COLORADO 80525 PREPARED FOR: CARE HOUSING 1303 WEST SWALLOW ROAD, BUILDING 11 FORT COLLINS, COLORADO 80526 PREPARED BY: TYLER BOROWY – PRINCIPAL PRIOR & ASSOCIATES 650 SOUTH CHERRY STREET, SUITE 425 DENVER, COLORADO 80246 INFO@PRIORANDASSOCIATES.COM EFFECTIVE DATE: JULY 18, 2022 REPORT DATE: JULY 29, 2022 July 29, 2022 Heartside Hill Apartments Market Study – CARE Housing Prior & As sociates Page ii TABLE OF CONTENTS INTRODUCTION & SCOPE OF WORK ............................................................................................................. iv CERTIFICATION .............................................................................................................................................. v I. MARKET STUDY SYNOPSIS ............................................................................................................... 1 A. Project Description .......................................................................................................................... 1 B. Rent Comparison ............................................................................................................................. 2 C. Comparability Analysis ..................................................................................................................... 3 D. Demand and Capture Rates ............................................................................................................. 4 E. Recommendations & Conclusions .................................................................................................... 5 II. PROJECT DESCRIPTION ..................................................................................................................... 7 A. Project Overview ............................................................................................................................. 7 B. Project Concept ............................................................................................................................... 8 C. Site Plan ........................................................................................................................................... 9 D. Unit Features, Common Amenities and Tenant Services ................................................................. 9 E. Parking ............................................................................................................................................10 F. Utilities ...........................................................................................................................................10 G. Unit Mix, Sizes and Rents ................................................................................................................10 H. Project Development Schedule .......................................................................................................11 III. LOCATION ANALYSIS .......................................................................................................................12 A. Project Location ..............................................................................................................................12 1. Site Location .............................................................................................................................12 2. Site Characteristics ...................................................................................................................13 B. Adjacent Land Uses .........................................................................................................................14 C. Nearby Community Infrastructure ..................................................................................................15 1. Retail Shopping Area ................................................................................................................15 2. Schools 16 3. Public Transportation ...............................................................................................................16 4. Social Services ...........................................................................................................................16 5. Parks and Recreational Opportunities ......................................................................................17 6. Public Safety .............................................................................................................................17 D. Infrastructure Improvements .........................................................................................................17 E. Marketability ..................................................................................................................................18 F. Walk Score & Transit Score .............................................................................................................18 IV. IDENTIFICATION OF MARKET AREA BOUNDARIES ...........................................................................46 V. OVERVIEW OF MARKET CONDITIONS .............................................................................................48 A. Historic Vacancy Trends ..................................................................................................................48 B. Absorption ......................................................................................................................................49 C. Historic Asking Rent Trends ............................................................................................................51 D. Historic Concessions .......................................................................................................................53 VI. COMPARABILITY ANALYSIS .............................................................................................................54 A. Inventory ........................................................................................................................................54 1. Housing Inventory ....................................................................................................................54 July 29, 2022 Heartside Hill Apartments Market Study – CARE Housing Prior & As sociates Page iii 2. Tax Credit Inventory .................................................................................................................54 B. Comparable Units ...........................................................................................................................55 C. Comparative Analysis ......................................................................................................................58 1. General Description ..................................................................................................................58 2. Amenities ..................................................................................................................................59 3. Unit Sizes ..................................................................................................................................61 4. Unit Mix ....................................................................................................................................62 5. Rent Comparison ......................................................................................................................63 6. Rent Per Square Foot Comparison ............................................................................................66 7. Vacancies and Waitlists ............................................................................................................67 8. Absorption ................................................................................................................................68 D. Upcoming Competition ...................................................................................................................69 VII. DEMOGRAPHIC DATA .....................................................................................................................72 A. Total Population .............................................................................................................................72 B. Total Households ............................................................................................................................72 C. Renter Household Size ....................................................................................................................73 D. Households by Tenure ....................................................................................................................73 E. Renter Households by Income ........................................................................................................75 VIII. DEMAND ANALYSIS .........................................................................................................................77 A. Income Eligibility Calculations .........................................................................................................77 B. Demand & Capture Rate Calculations .............................................................................................77 IX. STRENGTHS AND WEAKNESSES ......................................................................................................80 X. RECOMMENDATIONS AND CONCLUSIONS .....................................................................................81 A. Demand ..........................................................................................................................................81 B. Competitiveness .............................................................................................................................82 C. Location ..........................................................................................................................................82 D. Age and Condition ..........................................................................................................................82 E. Unit Mix ..........................................................................................................................................82 F. Unit Sizes ........................................................................................................................................83 G. Unit Features ..................................................................................................................................83 H. Project Amenities ............................................................................................................................83 I. Utilities ...........................................................................................................................................83 J. Projected Occupancy ......................................................................................................................83 K. Rents, Premiums and Other Revenues............................................................................................84 L. Absorption ......................................................................................................................................85 M. Amenities Offered at Additional Cost .............................................................................................85 N. Unusual Conditions .........................................................................................................................85 O. Subject Historic Occupancy and Impact of Renovation ...................................................................85 P. Conclusions .....................................................................................................................................85 XI. APPENDIX........................................................................................................................................87 July 29, 2022 Heartside Hill Apartments Market Study – CARE Housing Prior & As sociates Page iv INTRODUCTION & SCOPE OF WORK This report is a market study for Heartside Hill Apartments that is being developed by CARE Housing. The market analyst made a physical inspection of the market area, reviewed all relevant data, conducted personal interviews with local apartment managers, government officials, local real estate professionals, and service providers, and independently established the conclusions for this report. The site work was conducted on November 9, 2021 by Meghan O'Reilly. Meghan O’Reilly updated the rental comparable information between July 1 and 18, 2022. Tyler Borowy completed the market study and confirmed the conclusions of the report. July 29, 2022 Heartside Hill Apartments Market Study – CARE Housing Prior & As sociates Page v CERTIFICATION This market study was written according to the Colorado Housing and Finance Authority’s (CHFA) 2021-22 Market Study Guide. The information included is accurate to the best of our knowledge and the report can be relied upon by CHFA to present a comprehensive assessment of the market for the proposed project. The document is assignable to lenders and/or syndicators that are parties to the development’s financial structure. We acknowledge and agree that the market study will be shared with the Department of Housing and Urban Development (HUD) as part of HUD’s assistance to CHFA in the analysis of the market study. By: Prior & Associates Tyler Borowy Principal July 28, 2022 Heartside Hill Apartments Market Study – CARE Housing Prior & As sociates Page 1 I. MARKET STUDY SYNOPSIS PROJECT NAME: HEARTSIDE HILL APARTMENTS A. Project Description • The subject of this report is the market feasibility of Heartside Hill Apartments, a planned 71-unit rental project at 6501 Brittany Street in Fort Collins, Larimer County, Colorado. • The subject will consist of six three-story walk-up structures that have hardiplank and stucco exteriors with stone and brick accents, varied façades and pitched gable asphalt roofs on an 11- acre site. The units will have exterior breezeway entrances. • The subject's common amenities will include on-site management, bicycle maintenance/storage, walking trails, tenant services, a community room, exercise room, picnic area, playground, business center, kitchenette and community garden. Its security features will include surveillance cameras. • The subject’s tenant services will include affordable childcare, workforce assistance, a shared community meeting space and food assistance. These services may also include pediatric services and behavioral health support. • Each of the subject's units will have central air conditioning, blinds, carpet, high-speed internet hook-ups, cable television hook-ups, a ceiling fan, coat closet, storage closet, refrigerator, stove/oven, dishwasher, disposal, microwave and washer/dryer. Some units will have a pantry. • The subject will be developed through the Federal and State Low Income Housing Tax Credit (LIHTC) program and tax-exempt bonds, and restricted to renter households with incomes at or below 60% of the area median income (AMI). • Of the 71 units, five will be restricted at 30% AMI, eight each at 40% and 50% AMI, respectively, and 50 will be restricted at 60% AMI. All units restricted at 30% and 40% AMI, as well as two at 50% AMI, will be covered by project-based vouchers (PBVs). The project-based vouchers will be provided by Housing Catalyst and will have a 15- or 20-year term. • The following table describes the subject’s unit distribution by type, size and income restriction. Unit Type 30% AMI 40% AMI 50% AMI 60% AMI Total % of Total Size (Avg.)Type 1BR 2 ---2 2 6 8.5%650 WU/3 2BR/1BA 3 2 4 20 29 40.8%814 WU/3 3BR ---4 1 25 30 42.3%1,005 WU/3 4BR ---2 1 3 6 8.5%1,162 WU/3 Total 5 8 8 50 71 100.0%N/A N/A % of Total 7.0%11.3%11.3%70.4%100.0%N/A N/A N/A SUBJECT SUMMARY Source: Project Sponsor July 28, 2022 Heartside Hill Apartments Market Study – CARE Housing Prior & As sociates Page 2 B. Rent Comparison • The subject has owner-paid water, sewer and trash collection. However, the CHFA requirements call for comparisons between the subject’s net rents and the surveyed effective rents, which do not consider difference in tenant-paid utility costs. Therefore, the rent advantage for the subject compared to the market-rate rents is slightly understated, as these properties have most or all tenant-paid utilities. • The surveyed Class B LIHTC developments were built from 2008 to 2020 and are in above average or excellent condition. Compared to them, the subject has a slightly superior or inferior location, slightly inferior project amenities and comparable or slightly superior in-unit features. • Only one of the three Class B LIHTC comparables was updated in July 2022 and it only has 60% AMI units. The subject’s proposed 60% AMI rents are 12% to 13% higher than the effective amounts at the Class B LIHTC comparable that was surveyed in July 2022. • The surveyed Class C LIHTC units were built from 1997 to 2002, with two renovated in 2017 and 2018, and are in average condition. Compared to them, the subject has a comparable to inferior location, slightly inferior to slightly superior project amenities and slightly superior in-unit features. • The subject’s 50% AMI rents are 2% to 11% higher than the surveyed Class C LIHTC weighted averages, while its 60% AMI rents are 5% lower to 3% higher. Four Class C LIHTC properties were achieving 50% and 60% AMI rents near or above the maximums, likely due to the use of project- specific utility allowances, while one had 30%, 40% and 50% AMI rents 18% to 21% below the maximums because it has not recently increased rents to account for the higher 2022 limits. • The surveyed Class B market-rate properties were built from 2009 to 2021 and are in above average or excellent condition. Compared to them, the subject has an inferior to slightly superior location, slightly inferior or inferior unit features and inferior to slightly superior common amenities. • The subject’s 50% AMI rents are 45% to 46% lower than the surveyed weighted average Class B effective rents, and its 60% AMI rents are 33% to 38% less. • The surveyed Class C market-rate units were built from 1971 to 2000, renovated in 2012 to 2018 or have ongoing renovations, and are in average condition. Compared to them, the subject has a slightly inferior or inferior location, slightly inferior or comparable project amenities and slightly superior or superior unit features. • The subject’s 50% AMI rents are 29% to 33% lower than the surveyed weighted average Class C market-rate rents, and its 60% AMI rents are 13% to 19% less. • Additionally, the subject will have 16 units with project-based vouchers that will allow tenants to pay 30% of their incomes for rent and utilities, providing an excellent value to tenants in these units. July 28, 2022 Heartside Hill Apartments Market Study – CARE Housing Prior & As sociates Page 3 • The following table represents the subject’s proposed rents compared to the comparables by rent threshold and bedroom type. The subject’s 30% and 40% AMI units, and some 50% AMI units, will have project-based rental assistance and contract rents that are above the LIHTC maximums. Avg.Avg.Avg.Avg.Avg. 1BR $1,342 $1,342 $1,342 ---------$945 $945 $945 $1,147 $1,147 $1,147 --------- 2BR/1BA $1,596 $1,596 $1,596 $1,596 $1,596 $1,596 $1,126 $1,596 $1,361 $1,368 $1,368 $1,368 --------- 3BR ---------$2,160 $2,160 $2,160 $2,160 $2,160 $2,160 $1,574 $1,574 $1,574 --------- 4BR ---------$2,590 $2,590 $2,590 $2,590 $2,590 $2,590 $1,748 $1,748 $1,748 --------- Total $1,342 $1,596 $1,494 $1,596 $2,590 $2,127 $945 $2,590 $1,511 $1,147 $1,748 $1,485 --------- Avg.Avg.Avg.Avg.Avg. Studio ------------------------------------$1,315 $1,315 $1,315 1BR $484 $484 $484 $664 $779 $714 $771 $909 $858 $1,014 $1,197 $1,036 $1,250 $1,900 $1,597 2BR/1BA ---------$927 $934 $931 $1,076 $1,177 $1,152 $1,313 $1,435 $1,321 $1,470 $2,024 $1,609 2BR/2BA $503 $580 $547 $708 $827 $788 $912 $1,166 $1,039 $1,214 $1,417 $1,297 $1,429 $2,373 $1,923 3BR ---------$1,074 $1,077 $1,075 $1,241 $1,366 $1,351 $1,400 $1,656 $1,551 $1,770 $3,000 $2,417 4BR ---------$1,200 $1,200 $1,200 $1,515 $1,523 $1,519 $1,838 $1,846 $1,841 --------- Total $484 $580 $518 $664 $1,200 $822 $771 $1,523 $1,121 $1,014 $1,846 $1,361 $1,250 $3,000 $1,782 Source: Project Sponsor; Survey by Prior & Associates, July 2022 Range Range Range RangeComparables30% AMI 40% AMI 50% AMI 60% AMI Market Range RENT COMPARISON TABLE Subject 30% AMI 40% AMI 50% AMI 60% AMI Market Range Range Range Range Range C. Comparability Analysis • The following table compares the features of the comparables with those of the subject, with “- “indicating lower/inferior, “=” meaning equal to/comparable, and “+” representing something that is higher/superior to the subject. Lakeview on the Rise Caribou Apartments I Caribou Apartments II Bull Run Care at Fairbrooke Heights Springfield Court Rents =+=+-+ Unit Size ++++-/+- Unit Mix ====== Quality =----- Amenities -/+=/+=/+-/+--/= Location =++=++ Woodlands Apartments Buffalo Run Bucking Horse Apartments Settler's Creek The Wyatt Ridgewood Hills Rents -+++++ Unit Size =/-+++++ Unit Mix ====== Quality -----= Amenities --/=++++/- Location ++=+-+ Arbors at Sweetgrass Aspenleaf Apartments Governor's Park Rents +++ Unit Size +/-=/-= Unit Mix === Quality --- Amenities -/+-/=-/+ Location +++ COMPARABILITY ANALYSIS TABLE July 28, 2022 Heartside Hill Apartments Market Study – CARE Housing Prior & As sociates Page 4 D. Demand and Capture Rates • The following table indicates that the subject and all other non-subsidized 50% and 60% AMI units existing, planned or under construction would have to capture a total of 39.0% of the income- and size-qualified renter households in the PMA to attain full occupancy, a minimal increase from the existing rate of 35.0%. CAPTURE RATE ANALYSIS TABLE 50% 60% Total Income Qualifying HH in PMA 2,393 3,715 5,190 Existing LIHTC Units 509 1,307 1,816 Capture Rate – Existing 21.3% 35.2% 35.0% Under Construction/Planned Units 35 117 152 Subject’s Units 6 50 56 Total Existing & Planned Units 550 1,474 2,024 Capture Rate – Required 23.0% 39.7% 39.0% • The subject’s overall required capture rate is above the preferred CHFA threshold of 25%, as is the 60% AMI capture rate. However, the subject’s capture rates are all attainable because: • The surveyed LIHTC properties were 100% occupied and three had waitlists with 75 applicants, a four-year wait or an unspecified list, demonstrating evidence of pent-up demand for affordable rental units. • The existing total and 60% AMI capture rates are already well above the 25% threshold, and all surveyed 60% AMI units were 100% occupied. Additionally, the subject alone would only need to capture 1.1% of the PMA’s renter households that are qualified at 50% and 60%, including 0.3% at 50% AMI and 1.3% at 60% AMI. These rates are low and attainable. • The surveyed 50% and 60% AMI units were 0.0% vacant illustrating pent-up demand for units at these AMI levels. There does not appear to be concern of saturation at 50% or 60% AMI in the market, given the low vacancy rates and extensive waitlists. • According to Claritas, the PMA is gaining 382 renter households per year and should add 764 by the time the subject comes online. However, this renter growth is likely understated as CoStar shows that the PMA absorbed an average of 578 rental units per year since the start of 2019, while the vacancy rate decreased. Regardless, projected renter growth is not considered in CHFA’s demand calculations, resulting in overstated capture rates. • The subject’s 50% and 60% AMI rents are below the net Payment Standards for Housing Catalyst, indicating that Housing Choice Voucher recipients can occupy the subject’s units, which will enable it to target a larger income band of low-income renters. • The subject’s pro forma 60% AMI rents are 33% to 38% less than the surveyed weighted average Class B market-rate rents in the PMA, providing a sufficient discount to market and offering a good value to prospective tenants. Additionally, this rent advantage is slightly July 28, 2022 Heartside Hill Apartments Market Study – CARE Housing Prior & As sociates Page 5 understated due to the subject having some owner-paid utilities and the market-rate developments having all tenant-paid utilities, which is not accounted for in the effective rents. • The subject’s design, condition and unit features are comparable to superior to its primary competitors, which will compensate for its generally slightly inferior location and project amenities. This will enable it to compete effectively and achieve its required market share. • The capture rates are calculated per CHFA guidelines and using all existing 50% AMI family units, but the subject will only have non-subsidized one- and two-bedroom 50% AMI units. The number of qualified households is calculated using one- through three-person renter household sizes, but all 50% AMI unit types are included in the analysis, resulting in somewhat overstated 50% AMI and overall capture rates. • The subject will have 15 deeply-subsidized units. In 2022, according to Claritas, there are 8,271 renter households with incomes below 30% AMI in the PMA that are size-qualified for these units. E. Recommendations & Conclusions • The following table rates the subject in seven categories on a scale of one to five, where one is the lowest rating and five is the highest. 1 2 3 4 5 Market Demand X Project Location X Subject Unit Mix X Subject Unit Sizes X Proposed Rents X Overall Marketability-as proposed X Marketability with recommended changes N/A Source: Analysis by Prior & Associates SUBJECT EVALUATION TABLE • The overall surveyed vacancy rate in the PMA was 2.4%, well below a balanced threshold and reflective of pent-up demand for rental housing. • The overall surveyed LIHTC vacancy rate was 0.0%. Additionally, three LIHTC properties had waitlists with 75 applicants to a four-year wait. Although two LIHTC projects could not be resurveyed in July 2022, they had a shared 600- to 700-applicant waitlist in December 2021. • The PMA is gaining 382 renter households per year and should gain 764 by the time the subject comes online. Additionally, this is likely understated as CoStar shows the PMA has absorbed an average of 578 units per year since the start of 2019, while the vacancy rate decreased. Regardless, the subject’s non-subsidized units will only compete with 194 units in the pipeline, while its subsidized units will compete with 81 units. • The subject’s location, unit sizes and project amenities are slightly inferior to the surveyed LIHTC properties, but its above average condition and unit features will help compensate. July 28, 2022 Heartside Hill Apartments Market Study – CARE Housing Prior & As sociates Page 6 • The subject will not have difficulty attaining its required market share, as its overall characteristics will allow it to compete effectively for LIHTC tenants over the long-term. • The rents being attained at the surveyed LIHTC and market-rate properties and the subject’s qualitative comparisons to them, indicate the subject can achieve its proposed 50% and 60% AMI rents, which are set at the maximum allowable 2022 amounts. It should absorb 20 units per month during lease-up and reach stabilized occupancy in 3.5 months, without concessions. • After it completes lease-up, the subject should have a stabilized physical occupancy rate of 97%, a yearly turnover rate of 10% and annual rent increases of approximately 2.5%. • There are no recommended changes for the subject. July 29, 2022 Heartside Hill Apartments Market Study – CARE Housing Prior & Associ ates Page 7 II. PROJECT DESCRIPTION A. Project Overview The subject, Heartside Hill Apartments, is a new construction project containing 71 units to be developed through the Federal and State Low Income Housing Tax Credit (LIHTC) program and tax- exempt bonds, and targeted to low-income renter households. Of the 71 units, five will be restricted at 30% of the area median income (AMI), eight each will be restricted at 40% and 50% AMI, respectively, and 50 will be restricted at 60% AMI. All units restricted at 30% and 40% AMI, as well as two at 50% AMI, will be covered by project-based vouchers (PBVs). The project-based vouchers will be provided by Housing Catalyst and will have a 15- or 20-year term. Occupancy for the subject’s one-, two-, three- and four-bedroom LIHTC units will be restricted to households with annual incomes below 60% AMI. Households with one to six persons and incomes less than $74,700 are potential tenants for the subject’s units. The subject’s deeply-subsidized units will have project-based vouchers and target households with incomes as low as $0. Persons 30%40%50%60% 1 $22,560 $30,080 $37,600 $45,120 2 $25,770 $34,360 $42,950 $51,540 3 $28,980 $38,640 $48,300 $57,960 4 $32,190 $42,920 $53,650 $64,380 5 $34,770 $46,360 $57,950 $69,540 6 $37,350 $49,800 $62,250 $74,700 7 $39,930 $53,240 $66,550 $79,860 8 $42,510 $56,680 $70,850 $85,020 2022 LIHTC INCOME LIMITS Source: HUD The following table indicates the subject’s eligible income range for each unit type at each income restriction as proposed by the subject. The table assumes that 40% of a tenant’s income goes toward the maximum gross LIHTC rents. The 30% and 40% AMI categories are not shown because tenants occupying these units will contribute 30% of their incomes for rent and utilities. July 29, 2022 Heartside Hill Apartments Market Study – CARE Housing Prior & Associ ates Page 8 50% AMI 1BR 2BR 3BR 4BR Maximum Gross LIHTC Rent $1,006 $1,207 $1,395 $1,556 1 Person – Minimum Income $30,180 --- --- --- 1 Person – Maximum Income $37,600 --- --- --- 2 Person – Minimum Income $30,180 $36,210 --- --- 2 Person – Maximum Income $42,950 $42,950 --- --- 3 Person – Minimum Income ---$36,210 $41,850 --- 3 Person – Maximum Income ---$48,300 $48,300 --- 4 Person – Minimum Income --- ---$41,850 $46,680 4 Person – Maximum Income --- ---$53,650 $53,650 5 Person – Minimum Income --- ---$41,850 $46,680 5 Person – Maximum Income --- ---$57,950 $57,950 6 Person – Minimum Income --- --- ---$46,680 6 Person – Maximum Income --- --- ---$62,250 60% AMI 1BR 2BR 3BR 4BR Maximum Gross LIHTC Rent $1,208 $1,449 $1,674 $1,867 1 Person – Minimum Income $36,240 --- --- --- 1 Person – Maximum Income $45,120 --- --- --- 2 Person – Minimum Income $36,240 $43,470 --- --- 2 Person – Maximum Income $51,540 $51,540 --- --- 3 Person – Minimum Income ---$43,470 $50,220 --- 3 Person – Maximum Income ---$57,960 $57,960 --- 4 Person – Minimum Income --- ---$50,220 $56,010 4 Person – Maximum Income --- ---$64,380 $64,380 5 Person – Minimum Income --- ---$50,220 $56,010 5 Person – Maximum Income --- ---$69,540 $69,540 6 Person – Minimum Income --- --- ---$56,010 6 Person – Maximum Income --- --- ---$74,700 SUBJECT'S GROSS RENTS & INCOMES SERVED B. Project Concept The subject will consist of six three-story walk-up structures that have hardiplank and stucco exteriors with stone and brick accents, varied façades and pitched gable asphalt roofs. The units will have exterior breezeway entrances. We reviewed the subject’s elevations, site plan and floor plans (Alm2s; April 6, 2022) and determined that its design will compete effectively with other properties. July 29, 2022 Heartside Hill Apartments Market Study – CARE Housing Prior & Associ ates Page 9 C. Site Plan The site will have three vehicular entrances, with one off East Trilby Road and two off Brittany Street. Each entrance will lead to the surface parking area and provides sufficient access and visibility. The on-site traffic circulation network consists of a driveway that runs through the northern and central portions of the site. Resident parking is along both sides of the driveway. The units are oriented toward the parking areas and street, while the common areas are at the eastern and central portions of the site, and in the community room. The subject's site plan does not have any aspects that will restrict its market appeal. D. Unit Features, Common Amenities and Tenant Services Each of the subject's units will have central air conditioning, blinds, carpet, high-speed internet hook- ups, cable television hook-ups, a ceiling fan, coat closet, storage closet, refrigerator, stove/oven, dishwasher, disposal, microwave and washer/dryer. Some units will have a pantry. July 29, 2022 Heartside Hill Apartments Market Study – CARE Housing Prior & Associ ates Page 10 The subject's common amenities will include on-site management, bicycle maintenance/storage, walking trails, tenant services, a community room, exercise room, picnic area, playground, business center, kitchenette and community garden. Its security features will include surveillance cameras. The subject’s tenant services will include affordable childcare, workforce assistance, a shared community meeting space and food assistance. These services may also include pediatric services and behavioral health support. E. Parking The project will have 140 parking spaces, or 2.42 per unit, an adequate ratio for its target market. The rent will include parking. The subject's parking arrangement is comparable to its primary competitors that also only include surface parking with the rent. The City of Fort Collins requires multifamily projects to provide 1.5 parking spaces for each rental unit with one bedroom or less, 1.75 spaces for each two-bedroom unit, two spaces for three-bedroom dwellings and three spaces for units with four or more bedrooms. These parking standards would require 138 total surface spaces, which the subject will slightly exceed. F. Utilities The following table describes the subject’s utility combination and estimated tenant utility costs: 1BR 2BR 3BR 4BR Heat Electric Tenant $20 $27 $34 $41 Electricity N/A Tenant $18 $25 $32 $39 Hot Water Electric Tenant $12 $16 $19 $22 Cooking Electric Tenant $5 $7 $9 $11 Water N/A Owner ------------ Sewer N/A Owner ------------ Trash Collection N/A Owner ------------ Electricity Fee N/A Tenant $6 $6 $6 $6 TOTAL $61 $81 $100 $119 Type Who Pays Source: Housing Catalyst UTILITY ALLOWANCE SCHEDULE Utility AdjustmentUtility G. Unit Mix, Sizes and Rents The following chart, supplied by the project sponsor, HUD and Housing Catalyst, lists the subject's proposed unit distribution by unit type, size, income restriction, and rent. The subject will not charge any premiums. The sponsor does not plan to lease additional items or services. July 29, 2022 Heartside Hill Apartments Market Study – CARE Housing Prior & Associ ates Page 11 Unit Type Number of Units Square Footage % of Median Income Maximum Gross LIHTC Rent Utility Allowance Maximum Net LIHTC Rent Proposed Net Rent Proposed Rent per SF 1BR/1BA*2 650 30%$604 $61 $543 $1,342 $2.06 1BR/1BA 2 650 50%$1,006 $61 $945 $945 $1.45 1BR/1BA 2 650 60%$1,208 $61 $1,147 $1,147 $1.76 2BR/1BA*1 777 30%$724 $81 $643 $1,596 $2.05 2BR/1BA*1 833 30%$724 $81 $643 $1,596 $1.92 2BR/1BA*1 844 30%$724 $81 $643 $1,596 $1.89 2BR/1BA*1 777 40%$966 $81 $885 $1,596 $2.05 2BR/1BA*1 833 40%$966 $81 $885 $1,596 $1.92 2BR/1BA*1 777 50%$1,207 $81 $1,126 $1,596 $2.05 2BR/1BA 1 777 50%$1,207 $81 $1,126 $1,126 $1.45 2BR/1BA*1 833 50%$1,207 $81 $1,126 $1,596 $1.92 2BR/1BA 1 844 50%$1,207 $81 $1,126 $1,126 $1.33 2BR/1BA 7 777 60%$1,449 $81 $1,368 $1,368 $1.76 2BR/1BA 9 833 60%$1,449 $81 $1,368 $1,368 $1.64 2BR/1BA 4 844 60%$1,449 $81 $1,368 $1,368 $1.62 3BR/2BA*4 1,005 40%$1,116 $100 $1,016 $2,160 $2.15 3BR/2BA*1 1,005 50%$1,395 $100 $1,295 $2,160 $2.15 3BR/2BA 25 1,005 60%$1,674 $100 $1,574 $1,574 $1.57 4BR/2BA*2 1,162 40%$1,245 $119 $1,126 $2,590 $2.23 4BR/2BA*1 1,162 50%$1,556 $119 $1,437 $2,590 $2.23 4BR/2BA 3 1,162 60%$1,867 $119 $1,748 $1,748 $1.50 UNIT TYPES, SIZES AND RENTS Source: Project Sponsor; HUD; Housing Catalyst * Units with Rental Assistance H. Project Development Schedule The sponsor will begin construction of the subject in early 2023, complete the project in mid-2024 and begin pre-leasing prior to completion. July 29, 2022 Heartside Hill Apartments Market Study – CARE Housing Pri or & Associates Page 12 III. LOCATION ANALYSIS A. Project Location 1. Site Location The subject site is located in the northwest quadrant of East Trilby Road and South Lemay Avenue in the Brittany Knolls neighborhood of south Fort Collins, Larimer County, Colorado, 80525. Its address is 6501 Brittany Street in Fort Collins, Larimer County, Colorado, 80525. Fort Collins is at the intersection of State Highway 14 and U.S. Highway 287, two miles west of Interstate 25, 65 miles north of Denver and 32 miles northwest of Greeley. Fort Collins has a population of 169,052 and is a central city of the Fort Collins-Loveland MSA (Fort Collins MSA), which has a population of 366,847 and the same geographical boundaries as Larimer County. The Brittany Knolls neighborhood includes the lands north Trilby Street, south of Stone Creek, east of the Prairie Dog Meadow Natural Area and west of Lemay Avenue. This area is a middle- to upper- income, mixed residential and commercial community was predominately developed during the 1990s. The site is in Census Tract 10.09, which is not a Qualified Census Tract. July 29, 2022 Heartside Hill Apartments Market Study – CARE Housing Pri or & Associates Page 13 The subject's immediate neighborhood includes vacant, single-family and institutional land uses. Most nearby single-family homes are two-story structures that were built over the last 30 years and are well maintained. Most homes contain 1,500 to 4,000 square feet of living space, two to five bedrooms, two to three baths, a one- or two-car garage, and sell for $400,000 to $735,000. The nearest multifamily project is CARE at Eagle Tree, 110 feet south of the subject. These multiple dwellings are good condition, Class B, 1990s products with LIHTC rents that could not be obtained. The neighborhood commercial facilities are generally well-maintained, big box retail, national chain, small independent, and mom and pop stores that opened since the 1970s. 2. Site Characteristics The subject site is along two collector streets. This location has a low to moderate volume of passing traffic that provides average visibility. The subject will have approximately 0.17 miles of frontage along East Trilby Road, and 470 feet along South Lemay Avenue. The subject site is an irregular, 11-acre, gently sloped parcel that is vegetated with native grasses. Of the 11 acres, nine will be used for the subject, while two will remain in possession of the church who is donating the land. It is zoned Low-Density Mixed-Use Neighborhood District (LMN), which allows for single-family, multifamily, commercial and industrial land uses. The following aerial photo of the subject site was taken in June 2021. The subject is in an established neighborhood, but the area has been attracting some development. Affordable single-family homes and group homes are planned along the site’s northern border, and a church is proposed 200 feet southwest. Timber Lark Subdivision, which will include a neighborhood park, is approved for construction 0.7 miles west, and the Foothills Sun Communities is a proposed mobile home park 0.3 miles southwest. July 29, 2022 Heartside Hill Apartments Market Study – CARE Housing Pri or & Associates Page 14 B. Adjacent Land Uses The following narrative describes the site’s adjacent land uses and their impacts on the subject. North: The subject’s northern boundary consists of a church and vacant land. Heart of the Rockies Christian Church, at the subject’s northwest corner, was built in 2000 and has approximately 7,100 square feet of space. It owns the 10.8-acre parcel that it sits on, which includes the subject site. The church plans to develop the northern half of the 8.84-acre undeveloped land with ten single-family affordable homes and two group homes for developmentally disabled adults, while the southern half is the subject site. Past the church’s property line, 190 to 380 feet from the subject, is Brittany Street, a two-lane minor street that has a low traffic volume and connects East Trilby Road to South Lemay Avenue. Across Brittany Street, 245 to 435 feet from the subject, is a residential neighborhood comprised of two-story structures that were built in the 1990s, with 2,500 to 4,000 square feet of space. Most homes have two to four bedrooms, two to three baths and a one- or two-car attached garage. The homes are in good condition and sell for $600,000 to $700,000. South: Along the subject’s southern boundary is East Trilby Road, a two-lane collector street that has a low to moderate volume of passing traffic and connects U.S. Route 287 to South Lemay Avenue. Across East Trilby Road, 110 feet from the subject, are a church and an apartment complex. Discovery Fellowship Church was built in 1993 and has around 15,000 square feet of space. CARE at Eagle Tree is a 35-unit LIHTC project that was built in 1999 and is in good condition. The complex is owned by the subject’s sponsor, but we were unable to contact a manager to obtain the two- and three-bedroom rents. Beyond the church and apartment complex, 0.13 miles from the subject, is a residential neighborhood consisting of two-story structures that were built during the 1990s, with 1,500 to 3,500 square feet of living space. Most homes have three to five bedrooms, three to four baths and a one- or two-car attached garage. The homes range from average to good condition and sell for $450,000 to $735,000. East: South Lemay Avenue, the subject’s eastern boundary, is a four-lane collector street that has a moderate to high traffic volume. It connects Harmony Road to Carpenter Road. July 29, 2022 Heartside Hill Apartments Market Study – CARE Housing Pri or & Associates Page 15 Across South Lemay Avenue, 110 feet from the subject, is the Paragon Point residential subdivision, which consists of two-story structures that were built in the 1990s and contain 1,000 to 4,000 square feet of living space. Most homes have two to four bedrooms, two to three baths, a one- or two-car attached garage and sell for $400,000 to $670,000. They range from average to good condition. Past the subdivision, 500 feet from the subject, is vacant land covering approximately 16 acres that is undulating and vegetated with native gasses. It is zoned Low Density Residential and the owner has no immediate development plans. West: At the site’s northwest corner, are the church’s playground, community garden and parking lot. As part of the church’s overall development plans, the playground and garden are expected to be replaced by a 20,000 square foot community center and a new playground. A portion of the subject’s western border is Brittany Street, which is also its secondary northern land use. Across Brittany Street, 75 feet from the subject, is a residential neighborhood comprised of two-story structures that were built in the 1990s and contain 2,500 to 4,000 square feet of living space. Most of the homes have two to four bedrooms, two to three baths, a one- or two-car attached garage and sell for $400,000 to $700,000. They are in average to good condition. Beyond the neighborhood, 0.1 mile from the subject, is the main TransFort administration and maintenance facility, which has around 50,000 square feet of space on a six-acre lot. C. Nearby Community Infrastructure 1. Retail Shopping Area The closest convenience store is 7-Eleven, at 6600 South College Avenue, 0.9 miles west of the subject. It has a positive impact on the subject because it is within a mile. Safeway is a national grocery store with approximately 55,000 square feet in a shopping center at 1426 East Harmony Road, 1.8 miles northeast. The Fort Collins Shopping Center is a neighborhood shopping center with approximately 365,000 square feet at 813 East Harmony Road, 1.8 miles north of the subject. The center is in above average condition and Ace Hardware, Kohl’s and Sam’s Club are its primary tenants. The other tenants include Guitar Center, Gracie Barra Brazilian Jiu-Jitsu, ATA GaleForce Martial Arts, The UPS Store and restaurants. July 29, 2022 Heartside Hill Apartments Market Study – CARE Housing Pri or & Associates Page 16 Walmart Supercenter, at 4625 South Mason Street, 2.1 miles northwest, is a big box retail and grocery store with approximately 110,000 square feet. The Pavilion Shopping Center, with around 500,000 square feet of commercial space, is at 4356 South College Avenue, 2.3 miles northeast of the subject. The center is in above average condition. Michaels, TJ Maxx, King Soopers and Natural Grocers are primary tenants. The other tenants include Mattress Firm, Plato’s Closet, Famous Footwear, Imprints Embroidery, Walgreens, Fed Ex, Vitamin Cottage, ENT Credit Union and restaurants. Foothills Shopping Mall, at 215 East Foothills Parkway, 3.4 miles north, is an enclosed mall of approximately 1,200,000 square feet. Dick’s Sporting Goods, Macy's, H&M and Victoria’s Secret are its primary tenants. The other tenants include the Foothills Activity Center, Sunglass Hut, Hot Topic, Finish Line, Ross, Bath and Body Works, and smaller shopping venues. 2. Schools The subject is in the Poudre School District (R-1), which the Colorado Board of Education rates as average in comparison to other schools in the state. Children will attend Werner Elementary School, Preston Middle School and Fossil Ridge High School. The elementary school is 1.2 miles northwest of the subject, while the middle and high schools are both 2.4 miles northwest. Front Range Community College-Larimer County is 2.4 miles northwest of the subject, and Colorado State University-Fort Collins, 5.4 miles northwest, is the closest four-year college. 3. Public Transportation TransFort provides bus service in the market area. The nearest bus stop is at the intersection of East Trilby Road and South College Avenue, 0.9 miles west of the site. Residents can ride buses from this location to Downtown Fort Collins, along College Avenue, Loveland, Longmont and Boulder, with connections to other routes that travel throughout the MSA. The buses run every 30 minutes, from 5:41 am to 8:00 pm, seven days a week, with limited hours on Sunday. The standard one-way fare is typically $1.25, and $0.60 for senior citizens, but have temporarily been suspended since March 2020 due to the COVID-19 pandemic. 4. Social Services Little Peoples Landing, 1.3 miles west of the subject, provides childcare starting at $350 per week, and Coyote Ridge has a Head Start program 1.5 miles southwest. The Harmony Library is 2.5 miles northwest of the subject, while Front Range Community College, 2.5 miles northwest, offers free conversational English as a Second Language (ESL) classes. Government services are available at Fort Collins City Hall, 6.6 miles to the north, and the closest U.S. Post Office is 2.6 miles northwest. The Fort Collins Senior Center, 4.3 miles northwest, offers social activities, exercise classes, health and wellness programs, community events and meals for Fort Collins and Larimer County seniors. The center is open from 6:00 am to 9:00 pm, weekdays, from 8:00 am to 5:00 pm, Saturday, and from 9:00 am to 8:00 pm, Sunday. July 29, 2022 Heartside Hill Apartments Market Study – CARE Housing Pri or & Associates Page 17 UC Health Harmony Campus, the nearest full-service hospital, is 2.2 miles northwest of the subject, the closest medical facility is Banner Health Clinic, 1.3 miles northwest, and a Safeway Pharmacy is 1.8 miles northeast. 5. Parks and Recreational Opportunities Fossil Creek Park is a neighborhood park at 5821 South Lemay Avenue, 0.8 miles north of the subject. This facility is in above average condition, and has children's play equipment, trails, picnic areas and other amenities. The Foothills Activity Center, at 241 East Foothills Parkway, is 3.3 miles north. This facility is in excellent condition, and has exercise rooms, a gymnasium, meeting rooms for community activities and other amenities. It is open from 8:00 am to 7:00 pm, Monday through Saturday. 6. Public Safety According to the Bureau of Justice Statistics, the violent crime rate in Fort Collins decreased 2% annually from 2011 through 2020, while the property crime rate lowered 4% per year. Over the past ten years, the average annual violent crime rate in Fort Collins was 38% below the national average, while its property crime rate was 0% lower. Since the end of 2017, the violent crime rate in Fort Collins has declined 2% per year and the property crime rate has decreased 10% annually. Violent Crime Property Crime Violent Crime Property Crime 2011 268.1 2,967.6 404.5 2,945.9 2012 269.3 2,824.7 387.1 2,905.4 2013 241.4 2,572.9 387.8 2,868.0 2014 214.8 2,523.3 369.1 2,733.6 2015 204.1 2,653.7 361.6 2,574.1 2016 223.5 2,628.9 372.6 2,487.0 2017 236.5 2,735.6 386.3 2,450.7 2018 243.5 2,339.4 392.9 2,362.2 2019 232.8 2,322.7 368.9 2,199.5 2020 224.7 1,995.0 379.4 2,109.9 CRIME STATISTICS PER 100,000 RESIDENTS NationalFort Collins Source: Bureau of Justice Statistics; Claritas Safety is not important factor that tenants consider when renting in the market area. Most nearby apartment complexes have no security measures. Properties and street signs near the subject have no graffiti and there are no neighborhood anti-crime initiatives. According to surveyed property managers, crime activity is not changing. The Fort Collins Police Department, at 2 North Mason Street, is 6.5 miles northwest of the subject, and Poudre Fire Station 14, at 2109 Westchase Road, is 1.1 miles west. D. Infrastructure Improvements In 2018, Fort Collins spent over $10.5 million on street maintenance capital improvements projects, as well as an additional $5.2 million on other transportation projects, including public transit programs, school travel safety enhancement, and upgrading existing traffic operations and management infrastructure. July 29, 2022 Heartside Hill Apartments Market Study – CARE Housing Pri or & Associates Page 18 Construction on the I-25 North Express Lanes Project, from Mead/Johnstown to Fort Collins, is progressing rapidly. The full extension of the project will reach from Highway 56 in Mead to Mulberry Street in Fort Collins. The project broke ground in 2018, where it began in Fort Collins, and has slowly made its way south towards Mead. In addition to adding express lanes to both northern and southbound corridors, included in the scope of the project are the replacement and widening aging bridges, as well as the enhancement of local bus operations and the addition of new bus slip ramps from Interstate 25 to the new Park-n-Ride at Kendall Parkway. The Colorado Department of Transportation is also adding more left-hand turn lanes at the Harmony Road interchange to alleviate vehicles from having to wait on I-25 to access the off-ramp. Additional public benefits include the creation of new pedestrian and bicycle access ways underneath Interstate 25 at Kendall Parkway, the connection of the Cache la Poudre River Regional Trail beneath Interstate 25 to surrounding area trails and a wildlife corridor to diminish fatal encounters along the interstate. Total project costs are anticipated to exceed $302 million, which are in part funded through a TIGER grant given by the U.S. Department of Transportation. The express or toll lanes of the North I-25 Express Lanes project are expected to open by spring 2024. The City of Fort Collins is in the conceptual design phase for a project intended to widen Timberline Road in southern Fort Collins. Continued growth in southeastern Fort Collins has led to increased traffic on Timberline Road, which is one of the city’s principal arterial roads. Timberline Road serves as a significant regional connection for Northern Colorado communities, and the widening of Timberline Road to Trilby Road is part of the City’s Master Street Plan and will reduce congestion, improve safety, and enhance bike and pedestrian connections along the corridor. E. Marketability The subject is along two collector streets in a mixed residential commercial community. The subject’s building will have direct frontage along two collector streets, which have a moderate volume of passing traffic and provide very good visibility. The site is within one mile of a park, convenience store and bus stop, and within two miles of an elementary school, medical clinic, childcare, head start, grocery store, pharmacy and neighborhood shopping center. Overall, the subject’s location is comparable to two LIHTC and market-rate properties, slightly superior to two LIHTC and market-rate projects that are farther from shopping and/or employment opportunities, and slightly inferior or inferior to 11 LIHTC and market-rate developments that are closer to shopping, schools and/or public transportation. F. Walk Score & Transit Score The subject’s walk score is 11, which is 70% lower than the Fort Collins score of 37, 59% lower than the comparable average and is considered “car-dependent.” The subject’s transit score is zero and is considered “minimal transit,” while the transit score for the city of Fort Collins is 28 and the comparable average is 25. July 29, 2022 Heartside Hill Apartments Market Study – CARE Housing Pri or & Associates Page 19 Walk Score (Out of 100) Transit Score (Out of 100) Avg. Subject 11 0 6 Lakeview on the Rise 19 22 21 Caribou Apartments I 40 25 33 Caribou Apartments II 41 26 34 Bull Run 2 19 11 Care at Fairbrooke Heights 19 26 23 Springfield Court 29 21 25 Woodlands Apartments 13 21 17 Buffalo Run 40 25 33 Bucking Horse Apartments 17 23 20 Settler's Creek 70 39 55 The Wyatt 13 23 18 Ridgewood Hills 9 22 16 Arbors at Sweetgrass 19 24 22 Aspenleaf Apartments 45 34 40 Governor's Park 25 31 28 Comp Average 27 25 26 Fort Collins Average 37 28 33 Source: Walkscore.com Fort Collins Office 1303 W. Swal- low Road, Bldg 11 Fort Collins, Co 80524 Board of Directors Darcy McClure, President (3/20-3/24) BlueLine Development 970-412-2400 darcymcclure1@gmail.com Executive Committee Chair Development Committee Chair Gary Kietzmann, Vice President (11/15 -11/23) Retired (Raymond James Financial) 970-206-9535 Kietzmann@msn.com Executive Committee Finance Committee Chair Kevin Beard, Treasurer (9/19-9/25) First National Bank (970) 443-3025 kbeard@1stnationalbank.com Executive Committee Finance Committee Leelee Kates, Secretary (11/20-11/24) Colorado State University Health Network (970) 443-7762 alisa.kates@colostate.edu Executive Committee Strategic Communications Committee Deb Morris Stanko (8/15-11/23) Retired (Colorado State University) (970) 498-0358 stankos@comcast.net Executive Committee, Resident Services Chair *Danny Stephenson (05/22-05/24) CARE Resident (970) 301-2412 dannystephenson12@yahoo.com Resident Council Liaison Lindsay Ex (09/21-09/23) City of Fort Collins (970) 222-2912 lex@fcgov.com Strategic Communications Committee *Marla Sutherland (11/19-11/23) Metro Denver Homeless Initiative (970) 966-3877 mnsuther@gmail.com Resident Services Committee Alea Rodriguez (10/22-10/24) Larimer County (970) 372-9503 rodrigal@co.larimer.co.us TBD * Indicates CHDO representation Revised 01.06.23 June 15, 2023 Human Services & Housing Funding Board c/o Adam Molzer Social Sustainability Department City of Fort Collins 222 Laporte Ave Fort Collins, CO 80521 Dear Members of the Board: Thank you for recommending that our Kids Cafe program receive funding from the Human Services Program. The City’s grant funding will help ensure that children in Fort Collins have consistent access to scratch-cooked meals and healthy snacks, especially after school and during the summer. As grocery prices continue to climb, this means a great deal to Fort Collins families who have a hard time affording enough healthy food. Our year-round Kids Cafe program distributes free meals at mobile home communities, after-school programs, and other locations in Fort Collins. That means more energy for kids to learn and play--and one less worry for parents. I appreciate all that you and City staff do to help support the work of the Food Bank for Larimer County and other community nonprofits. Thank you! Sincerely, Amy Pezzani Chief Executive Officer FoodBankLarimer.org From:Davina Lau To:City Clerk Staff Liaison Cc:Boards & Commissions Staff Support Subject:Ballot Measures Date:Tuesday, August 22, 2023 1:37:50 PM Attachments:Outlook-ymhpmhdy.png Good afternoon, I am just writing to share an update for boards and commissions about appropriate actions once a ballot measure is set. Please let me know if you have any questions! ------------------------------------------------------ Restrictions for Boards and Commission under the Fair Campaign Practices Act kick in once an issue has been submitted to the City Council for fixing of the ballot title. An ordinance presenting ballot language for the City Council’s consideration is submitted to the Council when it is published as part of City Council meeting agenda the Thursday before the Council meeting. Once that occurs, it would be impermissible for City staff to put on the agenda of any City board/commission to discuss/promote/oppose any ballot measure. If there is an unsolicited factual question posed to staff or the board/commission regarding a ballot measure (for example: whether the item is in fact on the ballot or when would the tax go into effect if passed), then it would be appropriate to respond but the answer should contain just the factual information and not to solicit votes or opposition. If a Board or Commission normally passes resolutions in support or against issues and if their functions outlined in the City Code allow for such action, they may pass a resolution taking a position for or against the ballot measure. However, most City boards and commissions do not act through resolution. The Board or Commission may only report and/or distribute a resolution or action about a ballot measure through the normal, customary method it would normally take to report or publish such action, which in most cases includes only as part of the minutes of the meeting. They may not go beyond that limited action, and the prohibition of public funds being used to support/oppose a ballot measure is still in force. This prohibition could be violated, for example, if a ballot measure were added to the agenda with the expectation that staff prepare a presentation on why the electorate should support/oppose the measure leading up to the announcement of the resolution. Additionally, doing so could be perceived as the City taking a position on the measure. Except the above, City staff along with Board and Commission members are free to advocate for or against any ballot measure personally and on their own time and contribute their own personal funds or solicit funds. When doing so it is advisable to make it clear that the individual is doing so on their own time and not on behalf of the City. ------------------------------------------------------- Kindly, Davina Lau she/her/hers/ella Public Engagement Specialist | Boards and Commissions Coordinator City Clerk's Office 300 Laporte Ave., Building A 970-416-2525 (Office) dlau@fcgov.com