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-a <br />1 <br />rn <br />0 <br />0 <br />0 <br />a <br />a <br />to <br />E <br />L <br />d <br />a <br />0 <br />u <br />m <br />0 <br />■ <br />■ <br />■ <br />■ <br />Site Challenges: <br />Because this is not new construction, tenants may have to share <br />units depending upon family type, there is no common area <br />within one building, and services may have to be provided within <br />one unit converted for community uses. However, having all <br />units in one place would allow for better service provision than <br />at scattered sites with tenant based vouchers. <br />Because the property is occupied, current tenants would need <br />to be moved after their leases expire, or relocated under the <br />Uniform Relocation Act. Relocation costs would be an addi- <br />tional cost to acquire and occupy the property. <br />Units in the sample site are not on ground level or accessible <br />by elevators. Modifications would need to be made to allow <br />residents in wheelchairs access either in garden level or first <br />floor units. This could be a potentially expensive retro -fit. <br />Site Opportunities: <br />This example site is already zoned for multi -family housing and <br />would not need to go through a zoning change. It is existing <br />and ready for occupancy. The estimated development costs <br />assumes some modifications and rehabilitation will need to be <br />made for fire safety and accessibility. <br />Site Transit and Service Access: <br />The site has excellent access to transit, services within walking <br />distance, and is very bike -able. Groceries, services, and employ- <br />ment are close by and accessible by bike. <br />Other Considerations: <br />This property could house individuals or families, depending <br />upon the agency owning and operating the units. <br />Development Potential Proforma: <br />Total Cost to Acquire and Rehabilitate 16 Units is $5,885,000 <br />Potential Funding Sources: <br />This project example is too small to use many financing and <br />equity resources, such as Low Income Housing Tax Credits or <br />Private Activity or Housing Authority Bonds. However, other <br />sources of local and federal funding could be used, such as <br />HOME funding and City of Boulder Funding, Boulder County <br />Worthy Cause funding, and funding through the Metro Denver <br />Homeless Initiative for acquisition or for rental subsidies. Other <br />potential sources are the Colorado Division of Housing Na- <br />tional Housing Trust, Housing Development Grant funds, and <br />Section 811 project based rental assistance vouchers if some <br />tenants had identified disabilities. <br />Boulder County Permanent Supportive Housing Study <br />Potential Development Site Analysis <br />Vacant Land, Unincorporated Boulder County, Longmont Annexation <br />Site Size <br />6 Acres <br />Site Zoning <br />Boulder County A (Agriculture) <br />Proposed Height Restriction <br />With rezone, two stories <br />Proposed Density <br />Rezone./annex 14 units per acre <br />Number and Types of Units <br />36 total, 2, 3 bedroom <br />H + T Index/Walkability Score/Transit Score <br />Walk Score 43 (car dependent), no transit or bike score <br />Nearby Amenities <br />Grocery , Gas <br />Site Assessor's Value/Sales Price <br />Valued at $313,600 by County <br />Site Current Conditions: <br />Currently, the six acres is vacant land zoned for agriculture. <br />rn <br />0 <br />w <br />0 <br />0. <br />a <br />w <br />w <br />ra <br />E <br />L <br />w <br />a <br />0 <br />U <br />L <br />0 <br />■ <br />■ <br />■ <br />■ <br />28 <br />32 33 <br />