Investing in Workforce Housing
La Plata County and its government partners are committed to enhancing affordable housing for our local workforce through the 3-Year Workforce Housing Investment Strategy. This plan focuses on key areas to address housing challenges and support community well-being.
3-Year Workforce Housing Investment Strategy | Prepared by: Cappelli Consulting – Project Moxie | Commissioned by: La Plata County Economic Development Alliance
Key Initiatives
Rental Housing:
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- Private Activity Bonds Coordination: Aligning bond allocations to support local housing projects.
- Tax Credit Support: Assisting projects in obtaining tax credits, prioritizing community-sponsored developments.
- Fee Waivers: Implementing policies to reduce fees for below-market housing developments.
- Housing Catalyst Fund: Establishing a fund to assist non-tax credit rental projects with predevelopment costs.
- Fort Lewis College Collaboration: Supporting the development of affordable rental housing for staff and faculty.
Homeownership:
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- Technical Assistance: Aiding municipalities in subdivision development and partnerships to produce below-market for-sale units.
- First-time buyer support: Backing HomesFund’s homebuyer and mortgage assistance programs.
- Modular Housing Feasibility: Exploring modular housing options to increase affordability.
Land Development Initiatives:
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- Regional Projects: Collaborating on large-scale developments that combine municipal, county, and private resources to create for-sale housing.
Preservation:
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- Mobile Home Park Preservation: Funding technical assistance and financing to preserve existing affordable housing options.
- Private Activity Bond Allocation: Advocating for bond allocations to maintain current affordable rental housing.
Coordination and Funding
This strategy is powered by close collaboration with regional municipalities, nonprofit organizations, and private sector partners. By pooling resources and leveraging innovative funding mechanisms, including grants, tax credits, and private activity bonds, we’re ensuring a sustainable approach to workforce housing.
The Housing Catalyst Fund plays a pivotal role in bridging financial gaps, enabling vital projects to move forward. Learn more about our Housing Catalyst Fund here.
For a comprehensive understanding of our updated strategy and detailed plans, we encourage you to read the full 2024 updated strategy.
