HomeMy WebLinkAboutWORK SESSION SUMMARY-03/25/2025-Work SessionSocial Sustainability Department
222 Laporte Ave.
PO Box 580
Fort Collins, CO 80522
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WORK SESSION MEMORANDUM
Date: April 1, 2025
To: Mayor and City Councilmembers
Through: Kelly DiMartino, City Manager
Tyler Marr, Deputy City Manager
Jacob Castillo, Chief Sustainability Officer
From: Vanessa Fenley, Sr. Housing Manager
Subject: Work Session Summary - March 25, 2025: Council Priority: Operationalize City
Resources to Build and Preserve Affordable Housing
BOTTOM LINE
The purpose of this memo is to document the summary of discussions during the March 25,
2025 Work Session. All Councilmembers were present.
DISCUSSION SUMMARY
At the Work Session, staff provided a status report on Council’s Affordable Housing Priority: To
operationalize City resources to build and preserve Affordable housing. Staff provided
information on the regulations, investments, and partnerships the City was operationalizing to
impact housing across the spectrum, including deed-restricted Affordable housing.
The staff presentation included:
• A brief summary of Fort Collins’ housing landscape, including data regarding housing
needs and progress toward housing goals;
• An overview of actions taken and activities implemented;
• An overview of work in progress, including strategies being explored or planned for; and,
• A summary of options for future activities to advance Council’s Affordable Housing
Priority.
Highlights and themes from Council discussion are as follows:
• Data and Analysis
o While data show substantial gaps in housing that is affordable to low-income
residents, housing affordability and other challenges impact a wide range of the
community.
o Additional data and analyses are needed to inform future decisions and build
robust models. This includes examining how the City conceptualizes and
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measures cost burden as well as incorporating estimates of population change
and in- and out-commuting to metrics and analyses.
• Housing Supply
o Councilmembers expressed an interest in focusing on increasing housing supply,
while continuing to implement a suite of strategies to impact housing access and
stability.
o There is also a need to create more diverse and innovative forms of housing,
providing residents housing choice.
o To support development goals, the development process should be clear and
streamlined. Councilmembers discussed the fees associated with development,
recognizing the role fees play in the ability of the City to provide public services
and the need to examine fees in the context of their impact on housing
development.
• Land Bank Program
o Councilmembers inquired about the Land Bank program and requested staff
examine current program processes and clarify program goals.
• Housing Goals
o Housing production and preservation goals (for Prop 123 and for the Housing
Strategic Plan) are ambitious, and the City is not reaching these benchmarks
with current resources.
o Councilmembers discussed the option of re-examining local goals to better
match local conditions.
NEXT STEPS
To respond to Council requests that emerged during the Work Session, staff will:
1. Provide a memo to Council with additional information on the method and rationale for
current measurements of housing cost burden
2. Provide a memo with additional information on progress on Housing Strategic Plan
strategies, with the intention of ensuring alignment between Council and staff on
progress made and future opportunities; this memo will include information on potentially
revising housing goals included in the Plan
3. Convene internally to review guidelines for the Land Bank program, with a lens of how
the Land Bank program can best support progress toward the City’s goal of increasing
housing supply; staff will share progress with Council and will seek direction from
Council as needed
4. Provide updates on changes to the development review process through reports to
Council on fast tracking the development review process and proceeding with the
Commercial Corridors and Centers Land Use Code update; staff will identify the best
option for providing additional information on work underway to streamline and bring
clarity to the development review process, including changes in technology and
procedures
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FOLLOW-UP ITEMS
1. In discussion regarding real estate asset inventory and opportunities to operationalize
City properties, Council inquired about the extent to which proactive outreach was being
conducted with faith-based and educational institutions. Staff have historically raised the
idea of utilizing church property for development when churches inquire about
opportunities to support the affordable housing needs of the community. For example,
staff first talked with leaders at Heart of the Rockies Christian Church in 2013 about
utilizing their land for affordable housing development. Heartside Hill, located on Heart of
the Rockies property, is under development with the first move-ins to Care Communities'
apartments estimated for late Spring. Staff will continue to raise this option when
engaging with educational institutions and faith communities.
2. Councilmembers inquired about efforts to monitor and respond to legislation at the State
and federal levels, including the involvement of the Legislative Review Committee
(LRC). City staff regularly monitor legislation and will notify LRC staff liaisons of bills that
may impact the City’s ability to reach its housing goals. In addition, the LRC staff liaisons
regularly reach out to City staff to update them on new or amended bills and to seek
input on potential impacts.
3. To provide more robust data and information on Fort Collins’ housing landscape than
was presented during the Work Session, two additional resources are provided:
a. The Housing Dashboard is a public-facing dashboard, with several additional
housing metrics, accessible at https://www.fcgov.com/housing/dashboard. The
Housing Dashboard will be updated by the end of Q2 with recently released
Census data.
b. Economic Health staff compiled the attached Community and Business profile
with key data points, including housing data, for the City and each Council
district.
Attachment: Fort Collins Community and Business Profile
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FORT COLLINS COMMUNITY AND BUSINESS PROFILEINTRODUCTION
The purpose of this report is to provide an overview of the unique profile of council districts, specifically how they
compare to the makeup of other districts and Fort Collins as a whole. Metrics in this report include population size,
educational attainment, rentership rates and poverty rates. A variety of economic and businesses-related metrics,
including top industries and employers, are also included.
Data included in this report is sourced from:
• 2023 American Community Survey (ACS)
• 2024 U.S. Bureau of Labor Statistics (BLS)
• 2024 Q1 Quarterly Census Employment and Wages
Report (QCEW)
• 2024 Lightcast Data
• MIT Living Wage Calculator
Data is reported in units that do not line up perfectly
with Fort Collins council districts, therefore values are
estimates that may not exactly add up to district-level
and City-level values.
ACS Data
The Census data used in this report is sourced from
the ACS, generated by the U.S. Census Bureau. Each
year, this survey collects data from a sample of the
population and generates estimates using five years of
sample data.
U.S. Bureau of Labor Statistics
The Bureau of Labor Statistics (BLS) provides data
in the field of labor economics and statistics. BLS
publishes information essential to the public, employers,
researchers and government organizations. The metric
used for this report, Fort Collins unemployment rate, is
the annual average for 2024 for the months available
(January through November 2024).
QCEW Data
QCEW data is generated by the Colorado Department
of Labor and Employment in partnership with the
federal Bureau of Labor Statistics. Q1 2024 data (the
most recent dataset available for this report) is not as
accurate or reliable as in previous years due to a shift
in how data is collected and reported. It has still been
included in this report to provide general insight, but
likely underestimates true values, and should not be
considered an exact reflection of the economic state of
Fort Collins.
Collection and reporting issues for this data have been
resolved. Moving forward, inaccuracies with QCEW data
will be less of an issue.
Lightcast Data
Lightcast Data is a hybrid dataset derived from
official government sources such as the U.S. Census
Bureau, Bureau of Economic Analysis and Bureau of
Labor Statistics.
IMPORTANT DEFINITIONS
• Average Unemployment Rate: Percentage of adults
who do not have a job but are actively seeking work
and able to work.
• Incentive Zones: Geographic area that offers
businesses incentives to locate, expand, or stay in
the area. Some incentive zones are created to fund
development and redevelopment in a selected area.
Incentive districts in Fort Collins include the General
Improvement District, Urban Renewal Authority
(URA), Midtown Business Improvement District,
CHIPS Zone, and the Fort Collins Area Enterprise
Zone (Special Tax Credit Zone).
• Labor Force Participation Rate: Average
percentage of civilian non-institution population 16
years and older that is working or actively looking
for work.
• Minority: Defined as individuals who self-identify as
non-white or Hispanic/Latino.
• Percent College Educated: Percent of residents
with an undergraduate degree or higher.
• Percent Spanish-Only Speakers: Includes Spanish-
speaking individuals who identify their ability to
speak English as “not well” or “not at all.”
DATA
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DEMOGRAPHIC
Total Population 169,705
Percent Minority1 22%
Percent Hispanic/Latino 12%
Median Age 31
Percent Spanish-Only Speakers2 0.3%
Percent of Households with
at Least One Member with a Disability 17%
HOUSING
Median Home Value $548,400
Median Gross Rent $1,661
Median Homeowner Costs as a
Percentage of Income 20.1%
Median Rental Costs as a
Percentage of Income 34%
Total Housing Units 73,332
EDUCATION
Percent Enrolled in College 20%
Percent College Educated3,4 60%
Percent Holding High School Diploma
or GED Only4 14%
Percent with a Masters or Higher4 26%
Percent with a PhD or Professional Degree4 7%
1 “Minority” is defined as individuals who self-identify as non-white or Hispanic/Latino.
2 This value consists of Spanish-speaking individuals who identify their ability to speak English as “not well” or “not at all.”
3 Residents with an undergraduate degree or higher.
4 Of residents ages 25 and over.
5 Sourced from QCEW, may be inaccurate (additional context on page 1).
6 Sourced from the MIT Living Wage Calculator.
BUSINESS AND ECONOMIC
Number of Business
Establishments5 7,000
Number of Jobs5 100,000
Labor Force Participation Rate 71%
Average Unemployment Rate in 2024 3.6%
Percent in Poverty (includes students) 15%
Average Commute Time for
Fort Collins Workers 20 minutes
Percent of People Who Work
from Home Full Time 21%
Income
Median Household Income $83,598
COST OF LIVING
The Cost-of-Living Index measures how much it
costs to live in one particular area compared to
another. It is comprised of six categories: grocery,
housing, utilities, transportation, health care, and
miscellaneous goods and services. The cost of
living in Fort Collins is higher than the national
average, but slightly lower than the average cost
of living within the State of Colorado.
Fort Collins Cost of Living Index 108.6
State of Colorado Cost of Living Index 111.2
National Cost of Living Index 100.0
Cost of Living Expenses Table6
Typical cost of expenses for two adults (both
working) and one child:
Item Fort Collins Colorado
Food $10,489 $10,346
Childcare $16,868 $16,620
Medical $8,682 $8,053
Housing $19,854 $23,085
Annual Taxes $13,674 $14,154
FORT COLLINS COMMUNITY AND BUSINESS PROFILE CITY OVERVIEW
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FORT COLLINS COMMUNITY AND BUSINESS PROFILECITY OVERVIEW
Top Industries by Employment1
Healthcare and Social Assistance
Educational Services
Accommodation and Food Services
1 Sourced from QCEW, may be inaccurate (additional context on page 1).
2 Does not reflect recent layoffs, next two top employers are Broadcom and Orthopedic Spine Center of the Rockies.
3 An employment quotient of 21.27 means that the proportion of the Fort Collins workforce made up of Conservation Scientists is 21.27
times larger than the proportion of the US workforce made up of Conservation Scientists.
Top Employers1
Colorado State University
UC Health
Poudre School District
Top Private Employers1
UC Health
Woodward
SummitStone Health Partners2
TOP OCCUPATIONS
In rounded numbers, the most prevalent occupations are:
Occupation Number of Jobs Median Yearly Wage
Fast Food and Counter Workers 3,700 $33,000
Retail Salespersons 3,500 $34,000
Postsecondary Teachers 3,400 $83,000
Registered Nurses 2,480 $86,000
Cashiers 2,470 $34,000
EMPLOYMENT QUOTIENT
The employment quotient3 gives the occupations that are comparatively more prevalent in Fort Collins than in
other places in the U.S. While the raw number of individuals in these occupations may be smaller than the numbers
in other metro areas, they make up a greater proportion of the workforce in Fort Collins.
The occupations with the greatest employment quotients are:
Occupation Employment Quotient Number of Jobs Median Annual Wage
Conservation Scientists 20.11 403 $77,000
Atmospheric and Space Scientists 18.55 179 $104,000
Soil and Plant Scientists 10.87 167 $63,000
Microbiologists 8.99 155 $63,000
Computer Hardware Engineers 7.53 480 $136,000
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DEMOGRAPHIC
Total Population 27,204
Percent Minority1 24%
Percent Hispanic/Latino 15%
Median Age 34
Percent Spanish-Only Speakers2 0.51%
Percent of Households with
at Least One Member with a Disability 18%
HOUSING
Median Home Value $575,300
Median Gross Rent $1,706
Median Homeowner Costs as a
Percentage of Income 20%
Median Rental Costs as a
Percentage of Income 33%
Total Housing Units 12,402
Total Number of Households 11,753
Percent Renter-Occupied 49%
1 “Minority” is defined as individuals who self-identify as non-white or Hispanic/Latino.
2 This value consists of Spanish-speaking individuals who identify their ability to speak English as “not well” or “not at all.”
3 Residents with an undergraduate degree or higher.
4 Of residents ages 25 and over.
5 Sourced from QCEW, may be inaccurate (additional context on page 1).
6 Percentage of civilian non-institution population 16 years and older that is working or actively looking for work.
EDUCATION
Percent Enrolled in College 15%
Percent College Educated3,4 55%
Percent Holding High School Diploma
or GED Only4 16%
Percent with a Masters or Higher4 23%
Percent with a PhD or Professional Degree4 7%
BUSINESS AND ECONOMIC
Number of Business
Establishments5 1,200
Number of Jobs5 20,000
Labor Force Participation Rate6 75%
Percent in Poverty (includes students) 14%
Income
Median Household Income $84,215
Top Industries by Employment5
Healthcare and Social Assistance
Manufacturing
Professional, Scientific, and
Technical Services
Top Employers5
UC Health
Woodward
Orthopaedic and Spine Center
of the Rockies
Legacy Businesses5
Woodward, est. 1955
Orthopaedic and Spine Center
of the Rockies, est. 1969
Advanced Energy Industries,
est. 1981
Incentive Zones
9 General Improvement District
9 URA/DDA Tax Increment Financing
9 Enterprise Zone
9 Opportunity Zone
9 CHIPs Zone
COUNCILMEMBER SUSAN GUTOWSKY DISTRICT 1
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DEMOGRAPHIC
Total Population 26,973
Percent Minority1 24%
Percent Hispanic/Latino 14%
Median Age 36
Percent Spanish-Only Speakers2 0.85%
Percent of Households with
at Least One Member with a Disability 19%
HOUSING
Median Home Value $522,600
Median Gross Rent $1,843
Median Homeowner Costs as a
Percentage of Income 21%
Median Rental Costs as a
Percentage of Income 31%
Total Housing Units 12,511
Total Number of Households 12,272
Percent Renter-Occupied 48%
1 “Minority” is defined as individuals who self-identify as non-white or Hispanic/Latino.
2 This value consists of Spanish-speaking individuals who identify their ability to speak English as “not well” or “not at all.”
3 Residents with an undergraduate degree or higher.
4 Of residents ages 25 and over.
5 Sourced from QCEW, may be inaccurate (additional context on page 1).
6 Percentage of civilian non-institution population 16 years and older that is working or actively looking for work.
EDUCATION
Percent Enrolled in College 11%
Percent College Educated3,4 55%
Percent Holding High School Diploma
or GED Only4 14%
Percent with a Masters or Higher4 23%
Percent with a PhD or Professional Degree4 6%
BUSINESS AND ECONOMIC
Number of Business
Establishments5 1,600
Number of Jobs5 16,000
Labor Force Participation Rate6 78%
Percent in Poverty (includes students) 10%
Income
Median Household Income $100,399
Top Industries by Employment5
Retail Trade
Accommodation and Food Service
Professional, Scientific, and
Technical Services
Top Employers5
Avago Technologies
(Broadcom)
Sierra Trading Post
Target
Legacy Businesses5
Dillon Companies (King Soopers),
est. 1957
Platte River Power Authority,
est. 1973
Interim Healthcare of Ft Collins,
est. 1995
Incentive Zones
9 Business Improvement District
9 URA/DDA Tax Increment Financing
9 Enterprise Zone
9 CHIPs Zone
COUNCILMEMBER JULIE PIGNATARO DISTRICT 2
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DEMOGRAPHIC
Total Population 22,196
Percent Minority1 22%
Percent Hispanic/Latino 11%
Median Age 39
Percent Spanish-Only Speakers2 0.15%
Percent of Households with
at Least One Member with a Disability 15%
HOUSING
Median Home Value $595,300
Median Gross Rent $1,890
Median Homeowner Costs as a
Percentage of Income 18%
Median Rental Costs as a
Percentage of Income 32%
Total Housing Units 8,770
Total Number of Households 8,532
Percent Renter-Occupied 29%
1 “Minority” is defined as individuals who self-identify as non-white or Hispanic/Latino.
2 This value consists of Spanish-speaking individuals who identify their ability to speak English as “not well” or “not at all.”
3 Residents with an undergraduate degree or higher.
4 Of residents ages 25 and over.
5 Sourced from QCEW, may be inaccurate (additional context on page 1).
6 Percentage of civilian non-institution population 16 years and older that is working or actively looking for work.
7 Does not reflect recent layoffs, next two top employers are Greenfield Management Services and Everbrook Academy.
EDUCATION
Percent Enrolled in College 7%
Percent College Educated3,4 65%
Percent Holding High School Diploma
or GED Only4 11%
Percent with a Masters or Higher4 30%
Percent with a PhD or Professional Degree4 9%
BUSINESS AND ECONOMIC
Number of Business
Establishments5 880
Number of Jobs5 7,000
Labor Force Participation Rate6 75%
Percent in Poverty (includes students) 5%
Income
Median Household Income $124,673
Top Industries by Employment5
Healthcare and Social Assistance
Accommodation and Food Service
Manufacturing
Top Employers5
SummitStone Health Partners7
UC Health
Intel7
Legacy Businesses5
Beckman Coulter, est. 1960
Greenfield Management Services,
est. 1972
Fort Collins Youth Clinic, est. 1974
Incentive Zones
9 CHIPs Zone
COUNCILMEMBER TRICIA CANONICO DISTRICT 3
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DEMOGRAPHIC
Total Population 27,520
Percent Minority1 21%
Percent Hispanic/Latino 12%
Median Age 36
Percent Spanish-Only Speakers2 0.43%
Percent of Households with
at Least One Member with a Disability 16%
HOUSING
Median Home Value $488,850
Median Gross Rent $1,752
Median Homeowner Costs as a
Percentage of Income 20%
Median Rental Costs as a
Percentage of Income 33%
Total Housing Units 11,793
Total Number of Households 11,615
Percent Renter-Occupied 33%
1 “Minority” is defined as individuals who self-identify as non-white or Hispanic/Latino.
2 This value consists of Spanish-speaking individuals who identify their ability to speak English as “not well” or “not at all.”
3 Residents with an undergraduate degree or higher.
4 Of residents ages 25 and over.
5 Sourced from QCEW, may be inaccurate (additional context on page 1).
6 Percentage of civilian non-institution population 16 years and older that is working or actively looking for work.
EDUCATION
Percent Enrolled in College 9%
Percent College Educated3, 4 58%
Percent Holding High School Diploma
or GED Only4 14%
Percent with a Masters or Higher4 24%
Percent with a PhD or Professional Degree4 5%
BUSINESS AND ECONOMIC
Number of Business
Establishments5 800
Number of Jobs5 3,800
Labor Force Participation Rate6 74%
Percent in Poverty (includes students) 9%
Income
Median Household Income $92,458
Top Industries by Employment5
Healthcare and Social Assistance
Educational Services
Retail Trade
Top Employers5
Front Range Community
College
Breeze Thru Car Wash
Foothills Gateway
Legacy Businesses5
Markley Motors, est. 1959
Evangelical Lutheran Good
Samaritan Society, est. 1959
Ed Carroll Motor Company, est. 1967
Incentive Zones
9 Business Improvement District 9 Enterprise Zone
COUNCILMEMBER MELANIE POTYONDY DISTRICT 4
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DEMOGRAPHIC
Total Population 29,853
Percent Minority1 21%
Percent Hispanic/Latino 11%
Median Age 26
Percent Spanish-Only Speakers2 0.22%
Percent of Households with
at Least One Member with a Disability 21%
HOUSING
Median Home Value $493,400
Median Gross Rent $1,633
Median Homeowner Costs as a
Percentage of Income 20%
Median Rental Costs as a
Percentage of Income 33%
Total Housing Units 12,055
Total Number of Households 11,353
Percent Renter-Occupied 65%
1 “Minority” is defined as individuals who self-identify as non-white or Hispanic/Latino.
2 This value consists of Spanish-speaking individuals who identify their ability to speak English as “not well” or “not at all.”
3 Residents with an undergraduate degree or higher.
4 Of residents ages 25 and over.
5 Sourced from QCEW, may be inaccurate (additional context on page 1).
6 Percentage of civilian non-institution population 16 years and older that is working or actively looking for work.
EDUCATION
Percent Enrolled in College 43%
Percent College Educated3,4 63%
Percent Holding High School Diploma
or GED Only4 13%
Percent with a Masters or Higher4 26%
Percent with a PhD or Professional Degree4 7%
BUSINESS AND ECONOMIC
Number of Business
Establishments5 800
Number of Jobs5 14,000
Labor Force Participation Rate6 68%
Percent in Poverty (includes students) 22%
Income
Median Household Income $69,129
Top Industries by Employment5
Educational Services
Healthcare and Social Assistance
Accommodation and Food Service
Top Employers5
Colorado State University
Tolmar
Advanced Micro Devices
Legacy Businesses5
Dillon Companies (King Soopers),
est. 1957
Advanced Micro Devices, est. 1977
Worthington Inc, est. 1991
Incentive Zones
9 Business Improvement District
9 URA/DDA Tax Increment Financing
9 Enterprise Zone
9 CHIPs Zone
COUNCILMEMBER KELLY OHLSON DISTRICT 5
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24-27379
DEMOGRAPHIC
Total Population 25,251
Percent Minority1 24%
Percent Hispanic/Latino 13%
Median Age 29
Percent Spanish-Only Speakers2 0.26%
Percent of Households with
at Least One Member with a Disability 19%
HOUSING
Median Home Value $488,300
Median Gross Rent $1,457
Median Homeowner Costs as a
Percentage of Income 23%
Median Rental Costs as a
Percentage of Income 32%
Total Housing Units 11,834
Total Number of Households 11,339
Percent Renter-Occupied 65%
1 “Minority” is defined as individuals who self-identify as non-white or Hispanic/Latino.
2 This value consists of Spanish-speaking individuals who identify their ability to speak English as “not well” or “not at all.”
3 Residents with an undergraduate degree or higher.
4 Of residents ages 25 and over.
5 Sourced from QCEW, may be inaccurate (additional context on page 1).
6 Percentage of civilian non-institution population 16 years and older that is working or actively looking for work.
EDUCATION
Percent Enrolled in College 34%
Percent College Educated3,4 57%
Percent Holding High School Diploma
or GED Only4 17%
Percent with a Masters or Higher4 24%
Percent with a PhD or Professional Degree4 6%
BUSINESS AND ECONOMIC
Number of Business
Establishments5 1,000
Number of Jobs5 17,000
Labor Force Participation Rate6 69%
Percent in Poverty (includes students) 30%
Income
Median Household Income $65,625
Top Industries by Employment5
Educational Services
Public Administration
Accommodation and Food Service
Top Employers5
Poudre School District
City of Fort Collins
Larimer County
Legacy Businesses5
City of Fort Collins, est. 1978
Larimer County, est. 1978
Rio Grande Mexican Restaurant, est.
1987
Incentive Zones
9 URA/DDA Tax Increment Financing
9 Enterprise Zone
9 Opportunity Zone
9 CHIPs Zone
COUNCILMEMBER/MAYOR PRO TEM EMILY FRANCIS DISTRICT 6
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Community Development &
Neighborhood Services
281 N College Ave.
PO Box 580
Fort Collins, CO 80522
WORK SESSION MEMORANDUM
Date: April 1, 2025
To: Mayor and City Councilmembers
Through: Kelly DiMartino, City Manager
Caryn Champine, Director – Planning, Development & Transportation
Lori Schwarz, Deputy Director – Planning, Development, & Transportation
From: Clay Frickey, Planning Manager
Subject: March 25, 2025 Work Session Summary: Accessory Dwelling Unit Discussion
BOTTOM LINE
The purpose of this memo is to document the summary of discussions during the March 25,
2025 Work Session related to Accessory Dwelling Units. All Councilmembers were present.
DISCUSSION SUMMARY
Staff provided an overview of the current state of our Accessory Dwelling Unit (ADU) regulations
followed by a discussion of the requirements of becoming an ADU Supportive Community. Staff
indicated that Fort Collins likely already meets the requirements of an ADU Supportive
Community. Staff then presented two potential high impact programs that could bring additional
ADU development to Fort Collins: a fee reduction/waiver program and a pre-approved design
program.
NEXT STEPS
City Council directed staff to explore both a fee reduction/waiver program and a pre-approved
design program for ADUs. The fee reduction/waiver program will be included in the broader
organizational analysis of fees being led out of Sustainability Services. Planning staff will
explore the creation of a pre-approved design program for ADUs.
FOLLOW-UP ITEMS
A Councilmember requested additional information about how ADUs are financed as a follow-up
item after the work session. Staff will provide a brief memo with information about how ADUs
are financed.
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