May 9, 2019
Affordable Housing Update
Sue Beck-Ferkiss from the Social Sustainability Department, provided the City Council with an update on the City’s affordable housing inventory on May 7. According to her data, Fort Collins is behind in meeting its goal of producing 188 new units this year, with only 2 completed to date.
The City has a total of approximately 3,360 restricted units, which sounds like a lot. However, a majority of those units (2,314) are for people with incomes between 50 and 60 percent AMI (average median income) but units for low-income residents are few and far between. By 2024 the City hopes to have 5,155 units but the gap is growing between that goal and reality.
Beck-Ferkiss is now gearing up to launch the 2020-2024 Affordable Housing Strategic Plan. It will be important to keep a close eye on this plan moving forward.