The Board of the Chaffee Housing Authority (CHA) will hold their regular meeting this evening, from 4:30 p.m. to 6:30 p.m., Thursday April 18 at 114 Lindeman Avenue in Buena Vista.
Agenda items include a report from the Ballot Question Committee, regarding a campaign plan and timetable for public education and promotion of a ballot question establishing a sales tax increase for the purpose of funding affordable housing efforts in the county.
The 505 Apartments, built in 2017 include
19 apartments (one and two bedroom) at 505 Illinois Ave. in Salida. Courtesy image
There are also a number of resolutions concerning ongoing CHA projects, including Resolutions 2024-14 and 15, establishing contracts to buy and sell real estate and establish the Chaffee Housing Development LLC, both with regard to the 505 Apartments project.
The Housing Authority intends to form, a wholly-owned subsidiary, Chaffee Housing Development Company, LLC to facilitate the purchase of 505 Apartments at an offered price of $4.1 million.
In written communications, current owners, Paige and Joe Judd, Principals of Illinois Avenue Apartments LLC are “committed to providing a charitable contribution toward the acquisition of The 505 Apartments by the Chaffee Housing Authority | Chaffee Housing Development LLC.
“We commit to provide a charitable cash gift at closing of $210,000…We are providing this funding commitment to ensure that The 505 Apartments is preserved as affordable housing within Chaffee County.”
Additional funding is sought in the form of a $1.9 million loan from the Transformational Housing Loan Fund (THLF) which was created by the Colorado Department of Local Affairs Division of Housing, to support long-term affordability through transformational housing projects throughout Colorado.
Also under consideration are Resolution 2024-16, approval of the CHA rental housing guidelines, and Resolution 2024-18, approving the grant commitment letter from the state regarding the Alpine West development.
A complete agenda and remote meeting instructions can be found on the CHA calendar here,
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