To: Board of County Commissioners
Through: Katherine Smith, Director, Community Resources
Prepared By:
prepared
Nancy Sonnenfeld, Community Development Administrator, Community Development, Housing and Homeless Services Division, Community Resources
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presenter
Presenters: Michael H. Norton, Chief Policy Analyst, Reinvestment Fund and Michelle Schmitt, Senior Policy Analyst, Reinvestment Fund
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Subject:
title
1:45 PM *2024 Arapahoe County Market Value Analysis Presentation
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Purpose and Request:
recommended action
The purpose of this study session is to present the 2024 Arapahoe County Market Value Analysis recommended by Community Development, Housing and Homeless Services (CDHHS) staff within Community Resources.
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Background and Discussion: The COVID-19 pandemic significantly exacerbated the already prevalent housing affordability crisis in our nation. Amidst this crisis, approximately one in five renters are currently behind on their rent payments, while over 10 million homeowners are struggling to keep up with their mortgage payments. Colorado, like many other states, has been hit hard by this crisis, particularly affecting individuals and families with moderate, low, and extremely low-income, thereby increasing their risk of homelessness. On June 26, 2023, the Board of County Commissioners granted approval for a purchasing waiver to engage Reinvestment Fund to carry out a comprehensive Market Value Analysis (MVA) for the County.
The MVA is an essential tool for assessing and revitalizing communities and monitoring neighborhood changes. It identifies diverse residential markets and areas where strategic intervention can stimulate market activity or facilitate affordable housing options. The MVA emphasizes a community-based approach for governmental entities to address the housing shortage and improve the effective utilization of gap financing in Arapahoe County.
Reinvestment Fund along with Arapahoe County's Community Dev...
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