In a recent meeting, Longmont City Council members voted to waive $139,950 in fees for the Wesley Townhomes project, which aims to create affordable housing for residents facing homelessness.
The fee waiver will help reduce overall project costs and make it easier for the organization to secure additional state funding.
Longmont City Council Approves $139,950 Fee Waiver for Affordable Housing
An important step in the city's support of affordable housing was taken when the Longmont City Council approved a complete waiver of development costs for the Wesley Townhomes project.
100% of the project's development expenses are waived under this agreement, which is anticipated to give homeless people and families much-needed accommodation.
The project is led by The Inn Between of Longmont Inc., a nonprofit group dedicated to providing stable housing and support services to people in need.
By waiving these fees, Longmont is helping reduce project costs, which in turn will make the Wesley Townhomes’ application for Colorado Department of Housing funding more competitive.
Wesley Townhomes to Provide Affordable Housing for Low-Income Households
The Wesley Townhomes project will consist of 11 townhomes built on the grounds of the Heart of Longmont United Methodist Church.
The development will include both two- and three-bedroom units, offering enough space to house around 50 people.
The project aims to serve individuals and families transitioning out of homelessness and struggling to afford housing in the area.
The apartments are intended for households with incomes between 30% and 40% of Boulder County’s Area Median Income (AMI).
This level targets very low-income households, offering a solution for families who may otherwise find it difficult to secure safe and affordable housing.
This focused approach ensures that Wesley Townhomes will provide much-needed support to those most at risk.
Project Cost and Funding Sources for Wesley Townhomes
The estimated cost of the Wesley Townhomes project is $6.8 million.
Two rounds of Boulder County Worthy Cause grants, which are intended to support vital community services and initiatives, are used to fund the project.
Additionally, the City of Longmont has provided lending support, which has further facilitated the project's completion.
The Inn Between intends to ask the state for more gap money to pay remaining costs.
As a result of the City Council's recent fee waiver, the amount they must request will be diminished, potentially expediting the funding approval process.
Council Discussion on Fee Waiver’s Budget Impact
Councilwoman Diane Crist raised concerns during the meeting about the potential impact of the fee waiver on Longmont's limited 2025 budget.
She voiced concerns regarding the city's provision of free services, particularly in light of current financial difficulties.
Harold Dominguez, the municipal manager, clarified that since the fees only include money the city won't receive, they won't have an effect on the current or future budgets.
The waiver was supported by Councilmembers Sean McCoy and Marcia Martin, who emphasized the importance of addressing homelessness.
Because it lessens homelessness in the neighborhood, they think the initiative is a necessary investment.
Martin underlined that in order to provide affordable housing options for Longmont's most vulnerable people, fee waivers for initiatives such as this are essential.
