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

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Presentation on theme: "Flood Replacement Housing Lyons, CO Monday, September 29 th."— Presentation transcript:

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

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

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

4 # 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 # Households in Lyons

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

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

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

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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