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<br />City Council <br />Study Session Summary <br />May 26,2009 <br />Page 2 of 5 <br />Stimulus money is being used to replace windows on Hillside, as well as <br />additional improvements on the property. <br /> <br />Sunnyside windows replaced on the 2nd floor for safety considerations <br />The housing authority staff is being attentive to the needs expressed by <br />residents. <br />Weatherization program available to low income residents in Boulder <br />County. <br />Income eligible renting units. Elderly and disabled individuals comprise <br />35% of eligible applicants. <br /> <br />Department of Housing & Human Services Energy Program - Each home could <br />receive up to $5,000.00 to improve the energy efficiency of their homes. <br />Councilor Marsella suggested that flyers be available in kiosk at City Hall. The <br />Louisville Housing Authority will work with Senior Advisory Board to determine <br />needs of Louisville Seniors. The LHA will also meet with the Louisville <br />Revitalization Commission (LRC) to understand opportunities for development of <br />senior housing. The LHA faces challenges due to few places for build-out in <br />Louisville. The LHA affordable housing performs consistently on a high level of <br />occupancy, indicating a need for more affordable rental housing. The <br />exclusionary zoning option is not currently available. Sunnyside at this time is too <br />small to be a cash flowing property, although Lydia Morgan is a cash flowing <br />property. Louisville has a need for affordable independent senior living. The <br />challenge for LHA at this time is the cost of land. LHA would like to focus on a 45 <br />unit property. <br /> <br />Some targeted areas for re-development: <br /> <br />1. South Boulder road property - studies show that the property will not <br />work for affordable housing. <br />2. Considered Regal Square as a affordable housing and market housing <br />mix. <br />3. Contemplation of Cottonwood Property as a viable option - ideal piece <br />of property for Senior Housing. <br />4. Adjacent to Sunnyside building a 30 unit project, again the costs are <br />high for land. <br /> <br />LHA requests to work with the City to creatively structure deals for future <br />projects. Financial Analysis shows that the units could not be priced in the <br />affordable price range when considering the cost of the property. An option <br />would be to pursue market rate housing in order to facilitate an affordable <br />housing project. Affordable housing is in the city's comprehensive plan, and the <br />Louisville Housing Authority wants to understand the City's direction. LHA <br />requests a meeting with Council to discuss direction and assistance from the <br />City. LHA is a potential candidate for land use dedication, bonds, and a sales tax <br />percentage. The comprehensive plan does not have a tangible way to move <br />