To: Board of County Commissioners
Through: Katherine Smith, Director, Community Resources
Prepared By:
prepared
Nancy Sonnenfeld, Community Development Administrator, Community Resources
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presenter
Presenter: Lizze Loomis, Division Manager, Community Development & Housing Stability Services
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Subject:
title
2:30 PM *HOME Investment Partnerships Program PY26 Re-Allocation
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Purpose and Request:
recommended action
The purpose of this study session is to present and review the funding recommendations developed by Community Resources’ Community Development & Housing Stability Services (CDHSS) staff for the Community Housing Development Organization (CHDO) Reserve/Set-Aside and Multi-Family Affordable Housing Development project for the HOME Investment Partnerships Program (HOME) 2026 Program Year.
Additionally, County staff are requesting direction from the Board of County Commissioners (BOCC) regarding the proposed allocation and utilization of these funds, as well as authorization to proceed with the necessary amendments to the 2026 Annual Action Plan for submission to the U.S. Department of Housing and Urban Development (HUD) for review and approval.
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Alignment with Strategic Plan: Economic Resilience and Stability - Support long-term economic resilience through responsible fiscal and investment strategies.
Background and Discussion: On May 19, 2026, the Board of County Commissioners (BOCC) reviewed the 2026 HOME funding recommendations, including $89,048.00 in CHDO set-aside funds for Grovewood Community Development, Inc. and $445,235.80 to support an upcoming multi-family affordable housing project in Arapahoe County. The BOCC formally approved these allocations on June 23, 2026.
Due to delays in Low-Income Housing Tax Credit (LIHTC) financing and extended project development timelines, Community Development and Housing Stability Services (CDHSS) staff recommend redirecting these funds toward the rehabilitation and preservation of affordable housing at one of three properties in Littleton, Colorado: Fox Apartments (5348 S. Fox Street), Regal Apartments (5131 S. Delaware Street), or Lara Lea Apartments (5560 S. Elati Road) that are owned by Grovewood Community Development, Inc.
These aging properties are approaching the expiration of their existing affordability restrictions and are in need of rehabilitation. The proposed investment would help preserve 64 affordable housing units within the County's housing portfolio, preventing the potential loss of much-needed affordable housing opportunities.
Including additional HOME program income, the proposed total allocation is $590,000.00. This investment would help close an existing financing gap, support necessary rehabilitation improvements, preserve long-term affordability, and ensure the timely utilization of federal funds.
Alternatives: The BOCC may recommend an alternative distribution of HOME funds.
Fiscal Impact: HOME is an entitlement programs awarded and distributed by the U.S. Department of Housing and Urban Development. Therefore, the allocation of these funds will not impact Arapahoe County general funds.
Alignment with Strategic Implementation Strategies: N/A
Staff Recommendation: CDHSS Staff is recommending the updated funding allocations from the 2026 HOME program award and program income for Arapahoe County as presented above.
Concurrence: N/A