Let's support housing solutions that work.
Let's create the Jefferson County
Home Opportunity Fund.
Vote "YES" on November 7, 2017.
It’s this simple: Proposition 1 establishes a county fund that will provide grants for affordable housing through a fair, competitive process overseen by citizens.
The draft Financing Plan approved by the Board of County Commissioners describes the objectives of the Home Opportunity Fund; the process for considering proposals and awards funds; the eligible recipients and costs; how the projects will be monitored; and much more. You can see it HERE.
Before the end of the year, the BoCC will adopt a final Financing Plan through a public process.
During 2018, the Home Opportunity Fund will be established with revenue from the levy. A volunteer citizen Home Opportunity Fund Board will be appointed by the county commissioners. One employee will be hired in the Health Department to oversee the work of the Fund Board and the administration of the program. Annually, the Fund Board will request proposals from developers of affordable housing. They will evaluate proposals to assure that the proposals have a strong business plan and that they are being brought forward by organizations with the capacity to see them through. They will also evaluate the proposals to see that they meet identified housing needs, meet the objectives in the Financing Plan, and give bang for the buck.
The Fund Board will score projects and identify those worthy of funding. The Board of County Commissioners will consider their recommendations and approve funding for the best projects.
After they get an award, the developer will become the owner of the project subject to a long-term contract with the county. The contract assures that the owner/operator will manage and maintain the housing in affordable status for a period of forty years or more, depending on the terms.
The contract will include “clawbacks” and the county will monitor the housing to make sure that the developer is living up to its terms. The work of the fund board will be conducted in public meetings.The county has successfully used this citizen advisory board model for many years, notably with Conservation Futures Funds. After seven years, the levy ends. The work of the Fund Board will continue until the funds are spent. The county and other funders will continue to monitor projects for the duration of the contracts.