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Affordable Housing Fund: This loan pool works to expand housing opportunities in the City for low and moderate income families. The Fund is capitalized both from the City's General Fund and from "In lieu of" payments made by developers and builders. Criteria for the funds are that 1) they would be leveraged with other private or public funds; 2) they would be repaid and would revolve to be loaned again; and 3) the funds would be used to meet a community need.
The following summarize projects completed using the Fund, those in progress, and new projects approved but not started:
Completed Projects |
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Type of Project |
No. of Units |
Owner/Renter |
Income |
Amount |
| Acquisition of Existing Units - Terry Street Apartments | 24 |
Rental | <50% AMI | $50,000 |
| Habitat for Humanity (Baker Street) - Acquisition of Land for new construction | 2 |
Owner | <40% AMI | $25,000 |
| Acquisition of Existing Units - Parkville Apartments | 76 |
Rental | <50% AMI | $53,000 |
| Acquisition of Land & Infrastructure - Aspen Meadows | 50 |
Rental | <50% AMI | $34,000 |
| Acquisition of Existing Units - English Village Apartments | 32 |
Rental | <50% AMI | $33,000 |
| Habitat for Humanity (Spencer Street) - Acquisition of Land for new construction | 4 |
Owner | <40% AMI | $240,000 |
| Down Payment Assistance | 2 |
Owner | <80% AMI | $12,000 |
| Wedgewood Apartments - Rehab of Existing Units | 16 |
Rental | <50% AMI | $128,464 |
| Hover Ridge Senior Apartments - Land Acquisition | 100 |
Rental | <50% AMI | $773,500 |
| Habitat for Humanity (Quail Ridge) - Land Acquisition | 4 |
Owner | <40% AMI | $195,000 |
| Acquisition of Existing Unit | 1 |
Owner | <50% AMI | $32,000 |
| Thistle Community Housing - The Cannery Apartments Acquisition | 94 |
Rental | <50% AMI | $140,000 |
| ASI Housing for Disabled - New Construction | 18 |
Rental | <30% AMI | $714,696 |
| Village Place - Preservation of existing rental housing | 72 |
Rental | <50% AMI | $600,000 |
| Totals | 495 |
$3,030,660 |
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Projects in Process |
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Type of Project |
No. of Units |
Owner/Renter |
Income |
Amount |
| New Construction - Blue Vista | 100 |
Owner | <70% AMI | $1,350,000 |
| LHA Tenant-based Rental Assistance | 10 |
Rental | <30% AMI | $130,000 |
| Housing Rehab Program - Preservation of Existing Owner | 8 |
Owner | <80% AMI | $150,000 |
| Foreclosure Prevention Program - Preservation of Existing Owner | 4 |
Owner | <80% AMI | $20,000 |
| Rental Rehabilitation Program - Preservation of Existing Rental | 9 |
Rental | <50% AMI | $100,000 |
| Payment Buy-down for Rental Home | 1 |
Rental | <40% AMI | $40,000 |
| Totals | 116 |
$1,790,000 |
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Contact: Kathy Fedler, CDBG and Affordable Housing Programs Coordinator, (303) 651-8736, email: kathy.fedler@ci.longmont.co.us