Affordable Housing Inventory
- Analysis of Performance
- Metric Definition
- Why Is This Important?
- City Organization Impact on Performance
- Benchmark Information
Analysis of Performance
The goal for 2015 is to retain all affordable units and to add 2% or more units to the inventory of affordable housing annually (0.5% per quarter). Since Redtail Ponds, a permanent supportive housing development opened this quarter with all 60 units qualifying as affordable, the target for this quarter has been achieved.
Affordable housing units house the City's lowest wage earners and are important to the sustainability of our community. Through policy and funding, the City would like to at least maintain and preferably increase the number of units available to consumers requiring this type of housing. Low income housing in Fort Collins is for people who earn 80% or less Area Median Income.
Why Is This Important?
We project population growth at all income levels as we look to the foreseeable future. In order to allow consumers of affordable housing to live and work in the City, additional affordable housing units must be added to our current inventory to keep pace with this anticipated growth.
City Organization Impact on Performance
Low - The City does not build affordable housing units. Through policy and grants provided by the Competitive Process, the City often invests in new housing units or preservation of units for lower-income residents. The City responds to development proposals. These metric reports on completed units that will immediately affect existing inventory numbers.
As of the end of 2014, Fort Collins has 3075 total units which include units categorized as affordable rental units, ownership units, transitory units and assisted living properties. This will be the benchmark to measure growth from.