SUBJECT: Consent Agenda
Title
A Resolution of the Town Council of the Town of Erie Approving a Development Agreement and Accepting Dedications as Shown on the Final Plat for the Cheesman Street Residences Subdivision
Body
DEPARTMENT: Planning and Development
PRESENTER: Aly Burkhalter, Senior Planner
FISCAL IMPACT:
Cost as Recommended: $3,200,000
Balance Available: $3,200,000
Budget Line-Item Number: 100-30-430-576000-130430
205-30-430-605000-130430
205-30-110-604000-212121
New Appropriation Required: No
POLICY ISSUES:
The proposed resolution supports a specific affordable housing development that implements the Council's policy direction to encourage development of a variety of housing types and levels of affordability throughout the Town.
STAFF RECOMMENDATION:
Recommendation
Approve the Development Agreement and accept the dedications shown on the Final Plat for Cheesman Street Residences Subdivision.
End
SUMMARY AND BACKGROUND OF SUBJECT MATTER:
The Cheesman Street Residences Development is a public/private partnership that tackles Erie's need for affordable/attainable housing as documented in the Housing Needs Assessment the Town of Erie completed in 2023. Erie committed to strive for 12% of our housing to be affordable by 2035 (currently at 1.3%) and to collaborate with the Boulder County Regional Housing Partnership to work regionally on this issue.
In 2020, the Town of Erie committed to expand affordable and attainable housing throughout the community and in 2021 signed onto the Regional Housing Partnership commitment to work towards the collective regional goal of 12% of the region's housing inventory to be affordable by 2035. In 2023, the Town also committed to Proposition 123, which calls for a 3% annual increase in affordable housing units. The commitment to Prop 123 calls for the Town to create an additional 15 units of affordable housing by November 2026.
In November 2022, the Board of Trustees (now, T...
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