Chaffee County housing authority reports two affordable housing awards, mobile‑home park acquisition and hires as development work continues

Housing authority staff told commissioners that two projects in Chaffee County were awarded funding in the latest state cycle, and that other work continues in development and preservation.

Staff said the Crossing project (an affordable rental development) was awarded capital equity in the most recent funding round but still has a capital gap—staff estimated a remaining development funding gap in the neighborhood of $2.3 million that will require additional private or local capital to close before construction can start. The flour‑mill redevelopment project received a later allocation of equity in the same cycle after an initial denial, which staff said keeps that project viable for further capital stacking work.

On preservation, staff announced the acquisition of River Village Mobile Home Park (59 units, with potential for about 10 additional pads) into a local ownership structure intended to preserve naturally occurring affordable housing. That purchase involved multiple local partners and replaced a competing investor bid; staff reported the park had initially sold for a lower amount in 2014 and was resold for $3.8 million in the recent transaction. Staff said they have funding for water and sewer upgrades and are planning resident outreach and infrastructure work estimated to produce long-lived improvements.

Staff described an insurance challenge at closing—initial insurer quotes were very high (one cited figure was $35,000/year) but final terms were obtained for under $5,000/year. The authority will meet residents and begin tenant engagement, and staff noted the Possibility of future resident ownership as one of the program goals if the community chooses that path.

On operations and staffing, the housing authority said it is pivoting from a primarily development-focused organization to one that now includes ongoing property management for more than 100–150 tenants across authority properties. The authority is adding staff: a property manager/asset manager (David Kephart) has accepted an offer and will start in July, and other hires are close to being completed. Staff said this transition requires new systems—financial management tools, property-management software and tenant-facing services—and they are working to complete those systems and to consolidate web presence and service information.

Staff also reported activity on other projects in the pipeline including smaller mobile‑home park preservation prospects in and around Salida, and interest in applying for additional funding cycles for ownership or acquisition of apartment properties. Commissioners were briefed that Chaffee projects in the state funding cycle will need careful coordination so projects do not competitively overlap in future rounds; staff said they will prioritize and coordinate projects to avoid sending local proposals against each other.

Ending: Commissioners were asked to continue support and were told staff will bring recommendations on project prioritization and required local commitments as capital plans advance.