Greg Ekrem: Funding at 1440 Pine ties city’s hands for 40 Years

We recently learned that if private equity firm Gardner Capital, First United Methodist Church and Attention Homes build the proposed 40-bed facility for homeless young adults at 1440 Pine St., the primary funder’s requirements will not allow the facility to be repurposed to serve any other affordable housing needs until 2058.

According to a Feb. 16 letter from Colorado Housing Finance Authority (CHFA), “the land use restriction to be recorded on the project will require the reservation of these units for “homeless” through the extended use period of 40 years.”

Source: Greg Ekrem: Funding at 1440 Pine St. ties city’s hands – Boulder Daily Camera