City housing lottery sees growing interest | PostIndependent.com

City housing lottery sees growing interest

Dennis WebbPost Independent Staff

The odds may not be as good as they turned out to be last time, but eligible Glenwood Springs workers still may want to apply for the city’s second affordable housing lottery.The winner will get to buy a new three-bedroom, two-bath townhome at the below-market price of $177,646.The program got off to a slow start last year. Only one person applied for the first unit offered by the city.This year, interest in the program is growing. Jill Peterson, a city planner, said the Garfield County Housing Authority had received three applications as of the last time she checked, and the city has sent out a couple of applications in response to requests.”I know a lot of people have been picking them up,” she said.Peterson attributes the increased interest in the program to the continually rising cost of housing, and increased news coverage and advertising about the program.She said the city sent out information to major employers and to mortgage companies, and more real estate agents are becoming aware of it.”We hope that people will apply, because it’s a wonderful opportunity to live in Glenwood and still build up equity,” Peterson said.Units sold in the program are deed-restricted, which limits the allowable percentage of increase in their value in a given year. But the restriction means they are sold at a lower price than nonrestricted units would sell for, making them more affordable.The units are made available under a city regulation requiring developers of new subdivisions and multifamily housing projects to provide 15 percent of their units as deed-restricted housing.The townhome now for sale is located at 107 White Horse Place near Cowdin Drive and Overlin Drive north of Veltus Park.Applicants, with some disability and retiree exceptions, must be a full-time employee for a Glenwood business with an annual income of no more than $35,400 for a one-person household or $40,450 for a two-person household. The application deadline is Friday, and the lottery will be held Aug. 28.Apply either to the planning department at Glenwood Springs City Hall, 101 W. Eighth St., or the Garfield County Housing Authority, 2128 Railroad Ave., Rifle. Application packages will be available at those addresses. For more information, contact Peterson at 384-6407 or the housing authority’s Geneva Powell at 625-3589. Contact Dennis Webb: 945-8515, ext. 516dwebb@postindependent.com


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