[BoulderCouncilHotline] Re: ADUs possible funding

[Firnhaber, Kurt]

Dear city council,

After the completion of the study session on accessory units, held on February 27th, there was further discussion in regards to looking at an approach to create permanently affordable accessory dwelling units.  It was suggested that such an outcome could be created through a mechanism of either funding from the City to assist in the construction of such units or a loan product of a low or zero interest rate from the City that would help secure this on-going affordability.

This approach has similarities to some of the work that we will be doing later this year related to the middle income down payment assistance program.  As the update to the accessory dwelling ordinance is well on its way, I would suggest that we add this on to the down payment assistance program work item.  There may also be cost efficiencies in completing the required financial analysis if they are done together.

Thanks,

Kurt


Kurt Firnhaber
Deputy Director of Housing
[Planning,%20Housing%2]
Office: 303-441-4424
Cell: 303-917-0914
FirnhaberK at bouldercolorado.gov<mailto:FirnhaberK at bouldercolorado.gov>





From: Morzel, Lisa
Sent: Monday, March 5, 2018 1:57 PM
To: CAC <CAC at bouldercolorado.gov>; Council <council at bouldercolorado.gov>; HOTLINE <HOTLINE at bouldercolorado.gov>
Subject: Fwd: ADUs possible funding

Just a reminder that I plan to raise this under matters tonight.

Lisa

Lisa Morzel
Boulder City Council Member

303-815-6723 c
303-938-8520 h

Begin forwarded message:
From: MorzelL at bouldercolorado.gov<mailto:MorzelL at bouldercolorado.gov>
Date: February 27, 2018 at 10:34:50 PM MST
To: council at bouldercolorado.gov<mailto:council at bouldercolorado.gov>, hotline at bouldercolorado.gov<mailto:hotline at bouldercolorado.gov>
Subject: ADUs possible funding
Council and staff

Thanks for a great discussion tonight on ADU's and affordable housing and thanks for the well-prepared materials.

I meant to bring this up at the beginning of our ADU discussion tonight but did not and that is the issue of permanent affordability for the ADU's and OAU's. While I am not in favor of these becoming permanently affordable given they rent for less than market values, I am interested in considering a program similar to a pilot in Denver for ADUs. Specifically that discussion can be seen on page 11 of our packet and it describes Denver exploring a pilot project in West Denver to provide a no interest loan of $25,000 for the construction of a ADU in exchange for a deed restriction on rents at 80% of area median income. Anyway if a majority of council agrees, I'd like to add this to the list we'd like staff to consider under the heading of ADUs.

I'll raise this Monday under matters at our business meeting.

Thanks

Lisa

Lisa Morzel
Boulder City Council Member

303-815-6723 c
303-938-8520 h
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