Monday, October 3, 2011

Thistle Communities awarded $83,333

The Department of Local Affairs has announced that $83,333.00 in Housing Development Grant (HDG) funds has been awarded to Boulder County for the following project:

Thistle Communities will receive a Housing Development Grant (HDG) grant of $83,333 for the rehabilitation of the Valmont Square Apartments in the City of Boulder. Valmont has three buildings, all built in 1983. It has 16 one bedroom and 20 two-bedroom units, all affordable at or below 60% AMI. Thistle acquired the property in 1992 with City HOME funds, but without assistance from DOH. They refinanced it in 2002 as part of a portfolio tax-exempt bond refinancing. Their rehabilitation plan calls for new windows & skylights, roof replacement, new furnaces & hot water heaters, installation of fire sprinklers & CO alarms, repair & waterproofing of decks, and concrete sidewalk repairs.