Flood Replacement Housing Lyons, CO

Flood Replacement Housing Lyons, CO

Monday, September 29th

Housing Needs Assessment

Understand housing needs & preferences

Support applications for financial assistance

Identify pre-flood housing issues

Inform housing replacement strategy

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

# 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

185

900 # Households in Lyons

$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

$1,140

$1,520

Average pre-flood rents

Average post-flood rents

Market not providing affordable ownershipAverage list price over$500,000

Rents increased by post-flood33%

Development Analysis

Community Input

Site Selection

BCHA’s role in Lyons...

Site Selection Legal Considerations

• Annexation• Conservation Easements

Land Use Considerations• Development feasibility• Location analysis

Outcomes

• No easy solutions

• Complex land use scenarios

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

Sites Considered

Eastern CorridorLegal 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.

Steamboat ValleyLegal 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

Boulder County Open SpaceLegal 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.

AndersonLegal 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

HawkinsLegal Considerations

• Parcel would require annexation

• Eastern half of parcel restricted by IGA

Land Use Considerations• Approximately 2 acres of

developable land

South of Dog ParkLegal 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

Dog ParkLegal Considerations

• Parcel would require release of BoCo restrictive covenant

Land Use Considerations• Parcel has no adjacencies to

existing neighborhoods

Bohn ParkLegal Considerations

• Parcel would require release of use restriction

Land Use Considerations• Parcel is adjacent to existing

neighborhood

Land use restrictions

Floodplain Impact100-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.

Development Analysis SummaryInfrastructure 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

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