HomeMy WebLinkAbout2005 - Affordable Housing Board - Annual ReportAffordable Housing Board
2005 Annual Report
The following lists the major items the Affordable Housing Board was involved with during
2005:
1. Land Bank Program Updates: The Board was updated throughout the year on the
progress of the land bank program to acquire properties for the long-term
development of affordable housing.
2. Competitive Process for Allocating City Funds for Affordable Housing: Worked
with the CDBG Commission in advising the City Council on the funding for
affordable housing projects in the spring and fall cycles of the competitive process.
3. Sales Tax Revenue/Reduction of Affordable Housing lending: Requested that
staff monitor and advise the Board regarding sales tax revenues and reductions of
funding for affordable housing.
4. Homebuyer Assistance Program. Discussed possible ways to encourage a more
rapid repayment of loans granted to low-income families through the City's HBA
Program. The Board could not come up with a reasonable method that did not put an
extra cost burden on the homeowners.
5. Sales and Use Tax Rebate Program. Discussed possible reinstatement of the Sales
and Use Tax rebate program that sunset in 2001. The Board is delayed making a
recommendation to the Council pending the outcome of the April 2005 election
regarding sale tax on grocery items.
6. Expanded Roles of Boards in the Development Review Process. Reviewed the
proposal to expand the roles of certain boards, including the AHB, in the development
review process. The Board sent a recommendation to the Council that boards should
not be allowed to participate in the process.
7. Downtown Air Park Redevelopment Project. Heard a preliminary summary of the
proposed redevelopment of the Downtown Air Park and the type and cost of
residential units planned.
8. Zucker Report Update. Heard a presentation from Current Planning Department
staff on the steps being taken to implement the suggestions in the Zucker report for
changes to the development review process.
9. Buildable Lands Inventory. Staff presented a summary of the data from the updated
Buildable lands Inventory regarding vacant residential parcels and the number of units
that could potentially be built on the parcels.
10. Grocery Sales Tax Repeal. The Board discussed the potential impacts of the
Grocery Sale Tax Repeal and what it could mean for funding for affordable housing
programs.
11. 3-Unrelated Ordinance. The Board followed the various proposed ordinances to
dial with rental problems in single-family neighborhoods throughout the process and
was concerned how each potential solution could impact housing affordability.
12. City Budget/Affordable Housing Funds. The Board was updated regularly on the
development of the 2006-2007 City Budget (BFO Process) and what the impacts
would mean for funding for affordable housing programs.
13. Storm Drainage Development Requirements. Heard a report for the Storm Water
Utility staff on proposed floodplain regulations changes what the impacts could mean
for the development of for affordable housing.
14. Accessible Housing with Support Services. Heard a presentation from a Minnesota
non-profit organization on a proposed project for Fort Collins to build an accessible
affordable housing project that had self contained support services.
15. Housing Affordability Index Model. Heard a presentation from BBC Consultants
on the new, update computerized Housing Affordability Index Model that calculates
the number of families that could no longer afford to purchase a starter -home in Fort
Collins if certain variables were to change, (e.g., land prices, construction costs,
interest rates, development fees, etc.) The completed model is operated by the
Advance Planning Department.
16. Oakbrook I Private Activity Bond (PAB) Request. Heard a request from a private
interest to utilize the City allocation of PAB funds to help purchase and rehabilitate
Oakbrook I an affordable senior housing project located east of the Foothills Mall.