Workforce Housing Investment Strategy- Updated 2024
The La Plata County 3-Year Workforce Housing Investment Strategy was originally published in 2022. While significant achievements have been made in the last two years, updates to the strategy were made in 2024 to reflect the significant changes to the current funding environment.
RHA 2024 Strategic Plan
The RHA 2024 Strategic Plan focuses on maximizing affordable housing creation in La Plata County. The plan emphasizes leveraging collaboration, political support, and existing infrastructure and identifies the following three strategic priorities:
PROVIDE LEADERSHIP IN ATTAINING FUNDING
POSITION TO LEVERAGE RESOURCES
ALIGN LOCAL POLICIES WITH REGIONAL HOUSING GOALS
With these goals in mind, the RHA aims to serve as a hub for regional collaboration, address funding needs, elevate awareness, and enable public-private partnerships.
3-Year Workforce Housing Investment Strategy
This housing investment strategy prioritizes the key steps necessary to maximize the creation of housing affordable to the local workforce across La Plata County. The overarching strategy addresses rental housing, homeownership, a concerted effort to initiate a large-scale housing development, the preservation of existing affordable housing options, and the creation of a local housing fund. Successful execution of the strategy will require coordinated action across jurisdictions and between the public and private sectors.
1. Rental
Coordinate the allocation of Private Activity Bonds (PABs) through a regional agreement.
Coordinate countywide support of housing projects applying for tax credits, prioritizing those with community sponsors and those that assist in recruiting developers for specific projects.
Enact uniform local government policies for below-market housing fee waivers.
Establish a Housing Catalyst Fund to support non-tax credit rental projects with predevelopment costs, including employer-initiated below-market rental development.
Support Fort Lewis College’s efforts to develop below-market rental housing for staff and faculty in the next 18 to 24 months on campus land.
2. Homeownership
Provide technical assistance to municipalities to support subdivision development, identify development partners, find funds to subsidize projects, set below-market pricing, and develop resale controls while engaging in other activities that will result in the production of more below-market units for sale across La Plata County.
Support homebuyer and mortgage assistance programs provided by the HomesFund.
Complete a feasibility study on modular housing product options to create more affordable housing.
3. Land Development Initiative
Coalesce around “big idea” regional projects that bring together municipal and county resources as well as private funds to create development at a scale that focuses on addressing the significant need to create development at scale that focuses on addressing the significant need to create for-sale housing highlighted in the Root Policy study and affirmed in stakeholder interviews.
4. Preservation
Provide local funding for technical assistance, predevelopment, resident organizing, and permanent financing for mobile home park preservation.
Provide Private Activity Bond allocations to preserve existing affordable rental housing.
5. Local Housing Trust Fund
Develop and implement a local housing trust fund to support below-market housing.
6. Ongoing Education and Advocacy
- Continue and expand efforts for broader community engagement in housing initiatives.
RHA Action Plan
- Leadership
The RHA board established a goal of achieving political alignment from all four public entities and regularly reviewing any pertinent pending legislation. The board set goals to get elected officials out in front of the public and stakeholders for engagement through PSAs, news, and media.
- Staffing
The RHA board approved a scope of work, RFP & timeline for hiring a consultant to develop the structure of the RHA (priorities and staffing structure). The board identified the RHA’s ideal future as having a full administrative staff, led by an executive director.
- Funding
The RHA board agreed to track state and federal funding resources to ensure no funding opportunities are missed. The IGA between the four public entities establishes a percentage-based annual contribution for RHA operations. The RHA board set a goal of funding at least two projects per year.
- Development
The RHA board defined development goals as creating a funding/development checklist that is trackable, supporting two or more development projects per year, and focused outreach to developers.