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Flood Replacement Housing Lyons, CO

Flood Replacement Housing Lyons, CO. Monday, September 29 th. Housing Needs Assessment. Understand housing n eeds & preferences. Inform housing replacement strategy. Identify pre-flood housing issues. Support applications for financial assistance. Housing Needs Assessment. Methodology

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Flood Replacement Housing Lyons, CO

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  1. Flood Replacement Housing Lyons, CO Monday, September 29th

  2. Housing Needs Assessment Understand housing needs & preferences Inform housing replacement strategy Identify pre-flood housing issues Support applications for financial assistance

  3. Housing Needs Assessment • Methodology • On-line survey supplemented with paper • 979 total responses • 58% response rate! • Outreach • Media – newspapers • Social media/Facebook • School computer labs • Senior center

  4. 185 # of households still displaced from pre-flood homes in Jan ‘14 • Many renters could not return even if their homes were not destroyed • Older neighborhoods were heavily damaged, impacting seniors 900 # Households in Lyons

  5. Most of the population experienced a loss of income – but low-income households were disproportionally impacted Displaced households median income $35,000 $70,000 All Lyons households median income

  6. Market not providing affordable ownership $500,000 Average list price over 33% Rents increased by post-flood $1,140 Average pre-flood rents $1,520 Average post-flood rents

  7. BCHA’s role in Lyons... Development Analysis Community Input Site Selection

  8. Site Selection • Legal Considerations • Annexation • Conservation Easements • Land Use Considerations • Development feasibility • Location analysis • Outcomes • No easy solutions • Complex land use scenarios

  9. Development Analysis • What are the cost implications of...? • Infrastructure • Topography • Utilities • How would a project be financed? • Low-Income Housing Tax Credits • CDBG-DR • Traditional Debt • Other factors • # of units • Affordability levels • Owner Occupied vs. Rental

  10. Sites Considered

  11. Eastern Corridor • Legal Considerations • Parcels would require annexation • Land Use Considerations • Located far from heart of Town and services • Difficult to bring adequate infrastructure to site • Financing Considerations • Preliminary conversations with lenders indicated significant reservations about environmental contamination.

  12. Steamboat Valley • Legal Considerations • Parcels would require annexation • Outside of Lyons Primary Planning Area • Currently part of Rural Preservation Area and would require amendment to Boulder County/Lyons IGA • Land Use Considerations • Located above the “blue line”, requiring significant infrastructure to develop

  13. Boulder County Open Space • Legal Considerations • Parcels would require annexation • Currently Boulder County Open Space • Land Use Considerations • Difficult to develop due to topography and geology • Other • BOCC has indicated a willingness to lift conservation easements, but not to sell County open space.

  14. Anderson • Legal Considerations • Parcel would require annexation • Boulder County conservation easement • Land Use Considerations • Parcel has no adjacencies to existing neighborhoods • Parcel is located within the interim floodplain

  15. Hawkins • Legal Considerations • Parcel would require annexation • Eastern half of parcel restricted by IGA • Land Use Considerations • Approximately 2 acres of developable land

  16. South of Dog Park • Legal Considerations • Parcel would require annexation • Parcel would require release of BoCo restrictive covenant • Land Use Considerations • Parcel is located within interim floodplain • Parcel has no adjacencies to existing neighborhoods

  17. Dog Park • Legal Considerations • Parcel would require release of BoCo restrictive covenant • Land Use Considerations • Parcel has no adjacencies to existing neighborhoods

  18. Bohn Park • Legal Considerations • Parcel would require release of use restriction • Land Use Considerations • Parcel is adjacent to existing neighborhood

  19. Land use restrictions

  20. Floodplain Impact 100-Year Floodplain Floodway Interim Floodplain Interim Floodplain: The Colorado Water Conservation Board has developed an interim floodplain map using post-flood conditions. The interim floodplain shows the approximate position of the relocated 100-year floodplain. The interim maps are currently being used for information and guidance only.

  21. Development Analysis Summary • Infrastructure Costs • Costs are high for raw, unimproved land. • Need to spread these costs across a greater number of units to maximize efficiency & affordability. • What are the rents? • Rental income must be low to serve those identified in the Needs Assessment. • Low rents = a smaller “mortgage” for the property • Project will need more grants and equity to serve those in need

  22. What’s next? • BCHA will continue to support the Town • Technical support for funding applications • Provide staff for housing development • Provide legal assistance on restricted properties • Short-term Opportunities for Lyons • CDBG-DR Round II Funds • State anticipates funds available in Nov/Dec • Low-Income Housing Tax Credit • Applications due 3/1/15 & 7/1/15 • State Housing Tax Credit available in 2015 • In order to fully take advantage of these funds, a site should be selected as soon as possible

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