Housing Authority picks developer for rental housing project | SteamboatToday.com
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Housing Authority picks developer for rental housing project

Also at Thursday's YVHA board meeting

YVHA Home Store: The Yampa Valley Housing Authority is in the process of taking over operations at the Routt County Habitat Re-Store, which now is the YVHA Home Store. New signs were put up, but the business currently doesn’t have any employees and is only open when a board member volunteers his or her time to staff it. The group is seeking to hire a part-time employee to reorganize the store and then run it. Several items inside need to be thrown away, and Executive Director Jason Peasley said he thought the layout of the store should be changed so that different items are displayed more prominently to attract customers.

Utility upgrade: The YVHA has secured the loan money needed to replace the water lines at the Fish Creek Mobile Home Park. The group plans to open up the project for bids next month and hopes the work can be done beginning in July. The project will cost roughly $1 million. Authorization to sign the loan documents was given at Thursday’s meeting.

— The Yampa Valley Housing Authority board voted Thursday to move forward with a developer for a new rental housing project on Elk River Road.

The board on Nov. 19 put out a request for proposals for the project and received four proposals, three of which were complete enough to review during an executive session at the board’s Thursday meeting.

The board chose to move forward with Kansas-based Overland Property Group, which originally approached YVHA with the project.



“They gave us the most specifics,” board President Kathi Meyer said. “I think this (proposal) is the furthest along, so we can provide the community with low-income rental housing.”

The proposal entails a 48-unit, two-building apartment complex with a separate clubhouse building, to be constructed on a 10-acre YVHA property on the west side of Steamboat.



The rent-restricted units will go to individuals and families making between 40 and 60 percent of the median average household income in the area. In 2014, a Routt County household of two making $37,200 annually was bringing home 60 percent of the average median income here, according to the Colorado Housing and Finance Authority.

The units will be a mix of one- two- and three-bedroom units that has yet to be determined.

The project is contingent on acquiring funding in the form of low income housing tax credits YVHA will need to secure from the Colorado Housing and Finance Authority this spring.

YVHA Executive Director Jason Peasley said the CHFA tax credit program is highly competitive, and without those funds, the project won’t immediately come to fruition.

“If we don’t get the tax credit award, the project is not a go,” Peasley said.

If the funding is secured, construction could begin in 2016, he said.

Also at Thursday’s YVHA board meeting

YVHA Home Store: The Yampa Valley Housing Authority is in the process of taking over operations at the Routt County Habitat Re-Store, which now is the YVHA Home Store. New signs were put up, but the business currently doesn’t have any employees and is only open when a board member volunteers his or her time to staff it. The group is seeking to hire a part-time employee to reorganize the store and then run it. Several items inside need to be thrown away, and Executive Director Jason Peasley said he thought the layout of the store should be changed so that different items are displayed more prominently to attract customers.

Utility upgrade: The YVHA has secured the loan money needed to replace the water lines at the Fish Creek Mobile Home Park. The group plans to open up the project for bids next month and hopes the work can be done beginning in July. The project will cost roughly $1 million. Authorization to sign the loan documents was given at Thursday’s meeting.

To reach Teresa Ristow, call 970-871-4206, email tristow@SteamboatToday.com or follow her on Twitter @TeresaRistow


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