Overview
The La Plata Economic Development Alliance (Alliance) Housing Catalyst Fund (Catalyst Fund) is a public private partnership to create seed funding to support below market housing development in La Plata County. The Catalyst Fund was initially funded by donations and grants, and administered by a group of community leaders and housing experts.
Catalyst Fund proceeds may be used for a variety of predevelopment costs, including but not limited to project feasibility studies, environmental studies, engineering, architectural, market studies, options, legal fees, soil studies, site preparation, appraisals, surveys, development consultants and other items associated with determining project feasibility.
One of the primary recommendations from the Economic Alliance Three-Year Housing Investment Strategy was the creation of a local predevelopment initiative to help housing projects move forward, take advantage of the significant funding opportunities under the American Rescue Plan Act (ARPA) and also to prepare for funding from Proposition 123 which is anticipated to be available in late summer of 2023. Predevelopment funding is the first funding for any project and is also the riskiest funding for an investor.