YVHA Board of Directors: Housing support

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— The Board of Directors of the Yampa Valley Housing Authority would like to express its support of the Steamboat 700 Community Housing Plan's proposal to provide affordable and work force housing for the Yampa Valley community. It appears to support the policies of the West of Steamboat Springs Area Plan and offers the potential to significantly complement the mission of the YVHA.

There are many details that remain to be fleshed out. Included among them are:

- A better definition of the role that the YVHA will play in the development of the project

- A preliminary profile of the funds generated for the YVHA

- Any restrictions on the use of these funds by the YVHA

- A better understanding of the relationship between the YVHA and the Master Homeowners' Association

Our support is based upon the recognition that the affordable housing challenge in the Yampa Valley ultimately is the result of a severe imbalance between the supply of and the demand for affordable housing. During the past few decades, the supply of new affordable housing has become relatively stagnant, for a variety of reasons, while the demand has continued to grow at a rapid rate. The WSSAP correctly has identified the west of Steamboat Springs area as the only potential area available for significant new affordable housing stock. The Steamboat 700 project represents the first significant project to capture some of this potential.

Additionally, the Steamboat 700 CHP offers to provide a source of funds to the YVHA through the imposition of a voluntary real estate transfer fee. As you know, the lack of a sustainable funding source for the YVHA has stymied our efforts to move forward to accomplish our mission of providing affordable housing in the Yampa Valley and has forced the recent reduction in our staff, programs and projects. Although the impact of this real estate transfer fee will only be felt in the longer term, we welcome this and any other creative solutions to this dilemma.

The YVHA wants to see this project move forward and work towards providing needed housing for our community. We feel it is imperative that the YVHA be at the table for this and other projects with an affordable housing component, particularly in light of the current undertakings by City Council in this regard. We would like to be an active participant with the city and Steamboat 700 as the CHP is discussed and moved forward to its successful conclusion. To this end, we would like to designate two board members, Catherine Carson and Ed MacArthur, in additional to our staff, Mary Alice Page Allen, to participate in future meetings and discussions related to the CHP.

Thank you.

Yampa Valley Housing Authority Board of Directors

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