The Colorado Department of Local Affairs (DOLA) has awarded the town of Eagle a $54,400 Local Planning Grant to support the development of affordable housing units for low-to-moderate income residents. The grant, funded by Proposition 123- a ballot measure passed by Colorado voters in November 2022- aims to enhance affordable housing initiatives statewide. DOLA allocated the funding based on various factors including readiness, impact on housing and support from local leadership.
Driven by objectives outlined in its 2020 Town Council Strategic Plan, the town is prioritizing diversified and attainable housing for rental and purchase. Assistant Town Manager Melissa Daruna says the funding will be used to formulate a comprehensive funding strategy for affordable housing projects within a 90-day fast-track process led by the town’s housing specialist and Community Development Department. The town’s objective during this undertaking is to pinpoint viable land opportunities for the creation of affordable housing.
“The town remains dedicated to exploring funding avenues, including grants and other resources to increase our affordable housing inventory,” said Daruna. “This grant is a crucial accelerator to enable us to reach our affordable housing goals and offer residents options to remain in or move to our community.”
Since 2021, the town has secured a total of $1.145 million in grant funding for various projects, including:
- $45,000 for the Eagle Innovative Housing Strategies project which helped fund the creation of the 2023 Comprehensive Affordable Housing Assessment
- A $1.1 million award as a co-applicant with Habit for Humanity Vail Valley for the 3rd St. Housing project
For more information, contact Daruna at 970-404-9705 or melissa.daruna@townofeagle.org. For details on the town, visit townofeagle.org.