Frequently Asked Questions - Economic Vitality
Affordable Housing
Do you provide funding for individuals to develop and manage affordable housing? Does the City own and manage affordable housing?Q: Do you provide funding for individuals to develop and manage affordable housing?
A:
Due to the complexity of these programs and the required long term reporting and compliance required by HUD, the City primarily funds non-profit and for-profit organizations in the development of affordable housing. These organizations typically have the staff and experience in these programs to manage the data requirements and obligations that come with the public financing of projects. These projects require long-term obligations for data collection and reporting, property standards, and myriad legal responsibilities.
For more information, contact or call (719) 385-5912.
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Q: Does the City own and manage affordable housing?
A:
The City provides funding and technical assistance to organizations to support the preservation and creation of affordable housing. Forms of funding include grants (in limited cases) and low-interest loans for projects, direct rental assistance (through the local Housing Authority and ESM) and technical assistance. Technical assistance includes assistance to other organizations in structuring projects, management assistance, program review, etc.
For more information, contact or call (719) 385-5912.
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