On solid financial ground | SteamboatToday.com

On solid financial ground

Housing Authority audit positive, board questioned about new proposal

— The Yampa Valley Housing Authority ended 2005 with financial assets exceeding its liabilities by nearly $390,000.

Housing authority Executive Director Elizabeth Black presented an annual report on Tuesday and financial audit to the Routt County Board of Commissioners, the Steamboat Springs City Council and numerous city and county officials during a joint meeting in the Routt County Courthouse Annex. Officials praised the annual report and audit, but on Wednesday, members of the public strongly questioned the housing authority’s plan for a new development near a regional sewage plant on Twentymile Road.

Steamboat Springs accounting firm Catterson & Company, P.C., conducted the audit. The audit report shows that the housing authority’s general fund, as of Dec. 31, 2005, had assets of $395,247 and liabilities of $7,251, creating total net assets of $387,996.

More than $230,000 of that amount is cash and asset contributions from the Regional Affordable Living Foundation, which began transferring all of its assets to the housing authority in 2005.

The housing authority ended 2005 with a $30,000 shortage in its development fund, largely due to construction costs at Fox Creek Village, which will house 30 moderate- to low-income families at a site on Hilltop Parkway.

The ribbon-cutting ceremony for Fox Creek Village is today at 4 p.m.

The housing authority is also closing “very soon,” on the purchase of a 10.7-acre plot of land between U.S. Highway 40 and the Copper Ridge Business Park, county commissioner and housing authority vice-president Nancy Stahoviak said,.

The site will become Elk River Village, a modular-home development that could accommodate as many as 33 single-family homes on the 4 acres of developable land.

Black said homeowners at Elk River Village will own both the housing unit and the land beneath it.

While city and county officials praised the Fox Creek and Elk River plans, numerous members of the public questioned a housing authority proposal for a modular-home development on Twentymile Road.

During a public meeting at the Steamboat Springs Community Center Wednesday night, residents raised concerns about the lack of city water at the site, its proximity to a regional sewage treatment plant operated by the city and the site’s location outside of the city’s urban growth boundary in an area that is primarily agricultural land and conservation easements.

“The (public) consensus was to stop the project and transfer the density into the city,” Steamboat Springs City Council President Ken Brenner said after the meeting.

The proposed development would contain between 40 to 50 housing lots on about 15 acres of privately owned land on Twentymile Road, also known as Routt County Road 33.

The housing authority has not yet presented a pre-application for the development to county commissioners for review.

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