To: Board of County Commissioners
Through: Katherine Smith, Director, Community Resources
Prepared By:
prepared
Jeremy Fink, Community Development Administrator, Community Resources
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presenter
Presenter: Jeremy Fink, Community Development Administrator, Community Resources
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Subject:
title
1:00 PM *Allocation of Community Development Block Grant Funds to South Metro Housing Options - Montview Flats
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Purpose and Request:
recommended action
The purpose of this study session is to review a recommendation by Community Development Housing and Homeless Services (CDHHS) staff to allocate Community Development Block Grant Funds (CDBG) funds to South Metro Housing Options (SMHO) to support their Montview Flats affordable housing project in Littleton. In addition, CDHHS staff is seeking direction from the Board of County Commissioners (BOCC) regarding the plan to utilize these funds and submit a substantial amendment to the U.S. Department of Housing and Urban Development (HUD) to include the proposed funding for the SMHO-Montview Flats project.
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Background and Discussion: During the July 2, 2024, study session, the BOCC reviewed funding recommendations for the 2024 CDBG allocations, which were subsequently approved during the August 6, 2024 BOCC Business Meeting. The 2024 allocations included an award from the City of Centennial CDBG program (administered by Arapahoe County) in the amount of the $325,000 for the SMHO-Montview Flats project. At the time, County staff anticipated a future CDBG and/or HOME request depending on SMHO's ability to secure all necessary funding and absorb any potential anticipatory cost increases.
The Montview Flats project is a 50-unit affordable housing development just south of downtown Littleton on Rapp Street. The project will exclusively serve residents earning between 30-70% AMI and currently has a total development budget of $25,504,842.
The current funding gap for Montview Flats was reduced ...
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