Monday, April 18, 2011

Longmont Housing Authority awarded $875,000

The Department of Local Affairs has announced that $875,000.00 in HOME Investment Partnerships Program (HOME) funds has been awarded to Boulder County for the following project:

The Longmont Housing Authority (LHA) has been awarded a grant of $875,000 to pay off a bridge loan (from Mile High Community Loan Fund) for acquisition of "The Suites," an extended-stay hotel next to the Twin Peaks Mall in Longmont. The property comes fully furnished, and the site is within a half mile of a future light rail stop on the Diagonal Highway. It will have 72 permanent supportive housing units operating on the Housing First model, with Section 8 Project Based Rental Assistance from LHA. There will be 59 one bedroom apartments and 13 two bedrooms. LHA will oversee property management and coordinate with service providers. LHA hopes to master lease between one-third and one-half of the units directly to service agencies, and intends to make supportive services available to all residents. Rehab work will include: replacing and adding insulation to the roof, replacing the boilers and the air conditioning chillers, repairing furnaces and exterior concrete.