Tax credits sought for Manors upgrades | PostIndependent.com

Tax credits sought for Manors upgrades

Managers are working to fix a boiler problem in the Manors II apartments on Bennett Avenue that has resulted in recent hot water outages. Meanwhile, low-income developer Steele Properties has applied for federal tax credits to be able to pump $4 million in improvements into both the Manors I and II apartments buildings in Glenwood Springs.
John Stroud | Post Independent

The Manors I and II apartments in Glenwood Springs could see about $4 million in improvements, including new handicapped accessible apartments and energy efficiency upgrades, if the owners are successful in obtaining federal tax credits to do the work.

Meanwhile, a boiler problem in the Manor II apartments on Bennett Avenue is in the process of being fixed, according to Jennifer Cloud, project manager for Steele Properties, the development arm of the Monroe Group that manages the two apartment buildings on Bennett and Blake.

The apartments serve low-income senior and disabled tenants who receive federal Housing and Urban Development (HUD) Section 8 housing assistance. The boiler problem has resulted in intermittent periods without hot water for residents, prompting several calls recently to city officials.

“There were some recent issues with one of the boilers on site that was relatively new and had an unexpected issue,” Cloud said of the situation.

“This is being addressed and fixed immediately,” she said,

Pat Seydel, building official for the city of Glenwood Springs, concurred.

“Things happen, and boilers do go out,” Seydel said. “Management is being responsive to try to fix this.”

The boiler repairs are separate from the pending tax credit project, which would involve much more extensive upgrades, Cloud said.

If successful, the larger project will result in nicer facilities all around for tenants of the 76 apartments that are spread between the two high-rise apartment buildings, she said.

Steele has applied with the Colorado Housing and Finance Authority for $766,279 worth of Low Income Housing Tax Credits, with a goal of putting about $4 million into the rehabilitation of the approximately 40-year-old buildings.

“The larger rehabilitation will only occur if we are successful in obtaining tax credits,” Cloud said. “But the owner will continue to pay attention to the needs of the community in any case, and to provide a safe, decent housing resource that residents can be proud to call home.”

If successful in obtaining the tax credits, the renovation is planned to include both interior and exterior upgrades, she said.

Included in the renovation project would be garage repairs, better accessibility, new unit and entry doors, new unit flooring, painting and fixtures, security and call system upgrades, new kitchen floors, cabinets and energy efficient appliances, new bathroom fixtures and tubs, new AC units, a retrofit for the two elevators, fire protection and electrical upgrades, and new lighting fixtures throughout.

Some of the work would require that tenants be relocated out of their apartments temporarily until the work is complete. This will be especially true when the elevators are being redone, Cloud said.

“For a majority of the work, we would be able to follow a schedule that would allow the residents to remain in place,” she said. “We do find that tenants prefer to stay in their units if that’s possible.”

HUD recipients are provided relocation assistance for any period of time they are not able to be in their apartments, she explained, whether that involves staying at a nearby hotel or with family or friends.

The goal is to limit the time people are out of their apartments to less than a month. If it exceeds that time, the relocation benefit is extended, she said.

Cloud said the tax credit program is highly competitive, “but we are hopeful that the Manors is an excellent candidate,” Cloud said.

“If we are successful, we would receive the award this fall and could then start the renovation early next year,” she said. “If we are awarded tax credits, we would work very closely with residents to ensure that all know what is going on.”


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