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Home My WebLink AboutPACKET Town Board Study Session 2026-06-09Informal discussion among Trustees and staff concerning agenda items or other Town matters may occur before this meeting at approximately 4:30 p.m. Dinner provided to the Board at 4:45 p.m. Town Board of Trustees Study Session Tuesday, June 9, 2026, from 5:00 p.m. – 6:45 p.m. Town Hall Board Room, 170 MacGregor Ave, Estes Park Accessibility Statement The Town of Estes Park is committed to providing equitable access to our services. Contact us if you need any assistance accessing material at 970-577-4777 or townclerk@estes.org. Meeting Participation This meeting will be streamed live and available on the Town YouTube page. Click on the following link for more information on Digital Accessibility. Public Comment Public comments are not typically heard at Study Sessions, but may be allowed by the Mayor with agreement of a majority of the Board. Agenda 5:00 p.m. Joint Study Session with Estes Park Housing Authority Board of Directors 6:35 p.m. Trustee and Administrator Comments and Questions 6:40 p.m. Future Study Session Agenda Items 6:45 p.m. Adjourn for the Town Board Meeting E s t e s P a r k H o u s i n g A u t h o r i t y a n d T o w n o f E s t e s P a r k J o i n t S t u d y S e s s i o n –J u n e 9 , 2 0 2 6 Presented By Scott Moulton - Executive Director of the Estes Park Housing Authority And Pete Levine –Director of Real Estate Development 1 F r o m D e f i n i t i o n s t o A c t i o n : C r e a t i n g H o u s i n g f o r E v e r y o n e 6/10/2026 EPHA Mission Statement: In order to ensure a balanced and sustainable community the Estes Park Housing Authority creates and facilitates housing opportunities and services for persons of low and moderate income. 26/10/2026 36/10/2026 Who does EPHA Serve? 4 Estes Park Housing Authority Tenant Statistics June-26 Category Portion of: Estes Park / Estes Valley Households 319 7.4% / 3.4% # of Tenants 658 11.1% / 5.5% # of Children 167 22% / 12.8% # of Families w/Children 93 29% / 13% Average # of Tenants 2.1 Total <18 in Estes Park 743 House Type Average Age Tenancy Duration Ave Occupants Income Qualified 48.8 5.9 2.2 Income Qualified - Age Restricted 72.0 6.2 1.1 Workforce 39.3 2.3 | 1.11 2.0 House Type Monthly Income - Move-In Monthly Income - Current Annual Income - Move-In Annual Income - Current Change AMI (2ppl) Income Qualified 1,919$ 3,302$ 23,032$ 39,624$ 72%38% Income Qualified - Age Restricted 1,357$ 845$ 16,284$ 10,138$ -38%10% Workforce *Qualified Member Only 4,985$ 4,985$ 59,825$ 59,825$ 0%57% 6/10/2026 What properties does EPHA own and/or operate? 5 Properties Year # of Homes AMI's Served Type Lone Tree 1997 57 <55%LIHTC Talons Point 2003 44 <60%LIHTC Cleave Street 2006 10 <60%Ops as LIHTC Pines 2006 24 <60%Ops as LIHTC Falcon Ridge 2016 48 <60%LIHTC Peak View 2021 26 <80% | WF Workforce Grand Estates 2019/2023 16 <80% Workforce Beaver Brook 2024 20 WF Workforce Fall River Village 2024 89 WF Workforce 334 6/10/2026 What tools were used to create these housing options? 6 Properties + Land Primary/Secondary Funding Source Lone Tree LIHTC | Debt Talons Point LIHTC | Debt | PBV Cleave Street Debt | HOME Pines Debt | Sales Falcon Ridge LIHTC |Debt | CDBG Peak View Debt |EPHA Equity | Amort. Tap Grand Estates 6E | Debt Beaver Brook Debt | 6E Fall River Village Equity | WFRLF | 6E Land - Castle Ridge 6E | EPHA Reserves Land - Riverside 6E Land - Spring Street 6E 6/10/2026 Deed Restricted Housing Occupancy 7 183 61 89 69 90 94 51 6 1 6 0 7 8 0 020406080100120140160180200 EPHA Income Qualified EPHA Workforce - Stabilized Properties EPHA Workforce - Fall River Village (Lease- Up Phase) Private Income Qualified Workforce - Private Workforce - Prospector Deed Restricted Ownership Nu m b e r o f U n i t s Property Category Deed Restricted Occupancy Status -June 2026 Total Units Vacant Units Vacant, 4.33% Occupied, 95.67% Deed Restricted Unit Occupancy -June 2026 Vacant Occupied Estes Park Housing Authority Deed Restricted Housing Occupancy - Estes Valley Property Category Total Units Vacant Units Vacant EPHA Income Qualified 183 6 97% EPHA Workforce - Stabilized Properties 61 1 99% EPHA Workforce - Fall River Village 89 6 93% Private Income Qualified 69 0 100% Workforce - Private 90 7 92% Workforce - Prospector 94 8 92% Deed Restricted Ownership 51 0 100% Total 637 28 4.33% communications with our community partners. Data should not be taken as exact but should be considered highly accurate and reliable. 6/10/2026 Housing Inventory 8 Restricted Town of Estes Park 4,380 Larimer County 5,130 Total 9,510 Housing Stock Property Units Bonus Density Homeowners 44 Yes Prospector 94 Yes Peak View 26 Yes Grand Estates 16 Yes Beaver Brook 19 Fall River 89 Yes** 420 Steamer 39 262 Stanley 4 Yes 444 Stanley 8 Yes R-1 Zone 5 Total 339 **No bonus used, as built 65 units at 16 d/u Workforce Restricted Units Type Development # of Units AMI Level Ownership Vista Ridge 29 <80% Ownership The Neighborhood 13 <120% EPHA - Rental Cleave Street 10 <60% EPHA - Rental The Pines 24 <60% EPHA - Rental Talons Pointe 44 <60% EPHA - Rental Lone Tree Village 57 <60% EPHA - Rental Falcon Ridge 48 <60% Private - Rental Trail Ridge 24 <60% Private - Rental Park Ridge 32 <60% Private - Rental South Saint Vrain 12 <60% H4H - Ownership Various Locations 5 <80% Total 298 Rental 251 Ownership 47 Income Restricted Units ** About 75% of Income-Restricted Occupied by Households Meeting the Local Definition of Workforce Units Brought to Market with density Bonuses: 2013 (150%) = 0 2017 (200%) = 188 6/10/2026 Where do our residents work? 96/10/2026 Workforce Rental Assistance 106/10/2026 What guides use of 6E funds? 11 1.Housing Need and Mission 2. MOU (ToEP + EPHA) 3. Annual Funding Plan 6/10/2026 Select Language from the MOU 126/10/2026 New homes brought to market. 13 Fall River Village = 89 Beaver Brook = 20 Total New = 109 Preserved = 16 Land Purchased = 13.97 acres 6/10/2026 6E Lifetime Summary – How is all this money being used?! 14 Year Collections Allocated/Spent Unallocated 2023 4,606,966$ 2,838,353$ 1,768,613$ 2024 4,824,841$ 6,079,409$ (1,254,568)$ 2025 4,679,027$ 4,262,942$ 416,086$ Total 14,110,834$ 13,180,704$ 930,131$ 6E Lifetime Summary Collections - Housing 2023 2024 2025 Total % Administrative 53,270$ 496,010$ 697,009$ 1,246,289$ 9% Development 3,250$ -$ 550,000$ 553,250$ 4% Land Banking / Property Acquisition 2,706,833$ 5,359,679$ 1,998,768$ 10,065,280$ 76% Programs 75,000$ 223,720$ 1,000,000$ 1,298,720$ 10% Total 2,838,353$ 6,079,409$ 4,245,776$ 13,163,538$ 6E Lifetime Summary Collections - Housing 6/10/2026 Why Fall River Village matteredThe acquisition was not a conventional real estate transaction; it was a strategic preservation and repurposing action. The original public case was built around a simple problem AND one opportunity:The community needed homes for the year-round workforce and seasonal workforce faster than new construction alone could deliver. What the 2024 discussion established • The 2023 Housing Needs Assessment identified a substantial rental need by 2030. • Fall River Village and Prospector were part of the near-term rental pipeline. • FRV added 89 condo-style homes to the workforce housing strategy. What the purchase solved • Existing units were preserved rather than waiting years for new supply. • A downtown-adjacent asset stayed connected to local workforce needs. • The transaction created a bridge between immediate rental needs and new development. What it did not solve by itself • The debt structure still required a targeted disposition strategy. • Upper unit sales remained part of the plan. • The Board still needed to balance cash proceeds with long-term housing value. The original plan was a balancing strategy Preserve the core housing asset Sell enough high-value inventory Stabilize operations & governance Mission Retain maximum feasible workforce housing inventory; protect resident stability and local workforce access. Financial plan Dispose of select higher- value units to pay down debt and move toward project self-sufficiency. Operations Use SkyView as an owned operational hub rather than paying outside rent while managing a larger portfolio. The Board’s March decision maintained the original balance: sell enough to address debt, but not so much that the project stops serving the purpose for which it was acquired. Why the Board rejected the offer scope A purely transactional analysis missed three non-financial costs. 1 Permanent inventory loss Upper units are high-quality, hard-to-replace workforce housing opportunities in a built-out mountain community. 2 Resident stability loss Public comments reflected uncertainty, ownership-path concerns, and the human cost of a larger disposition strategy. 3 Operational conflict Returning SkyView to event/commercial use would place transient event activity inside a residential workforce housing community. Beyond the strategic and mission balance: The unsolicited offer was 30% below fair market value SkyView: from distraction to operating asset The building can support the larger housing portfolio rather than competing with resident stability. 10 initial staff capacity 14–18 potential total capacity $22,020 current rent savings 1 centralized hub for management + maintenance storage •Places management closer to a complex and growing portfolio. •Uses an owned asset rather than paying rent to a third-party landlord. •Reduces conflict from high-volume event use inside a residential setting. •Supports maintenance operations with storage and logistical space. FRV Debt Service Reserve Fund and ToEP Moral Obligation 19 Current Operating and Reserve Cash: $1,706,020 Total Cash: $4,226,732 6/10/2026 T h a n k y o u ! 206/10/2026 Thoughts to Ponder: "Our Great American Housing Depression is fueled by our cultural aversion to one another. We are Neighbors. We are not Invaders. Until we ask ourselves why we are so afraid of one another the depression rages on..." ~ Peter Lifari - CEO Maiker Housing Partners 216/10/2026 How to I find information about housing in our community? 226/10/2026 How to I find information about housing in our community? 236/10/2026 How to I find information about housing in our community? 246/10/2026 6E Lifetime Summary – How is all this money being used?! 25 Year Collections Allocated/Spent Unallocated 2023 4,606,966$ 2,838,353$ 1,768,613$ 2024 4,824,841$ 6,079,409$ (1,254,568)$ 2025 4,679,027$ 4,262,942$ 416,086$ Total 14,110,834$ 13,180,704$ 930,131$ 6E Lifetime Summary Collections - Housing 2023 2024 2025 Total % Administrative 53,270$ 496,010$ 697,009$ 1,246,289$ 9% Development 3,250$ -$ 550,000$ 553,250$ 4% Land Banking / Property Acquisition 2,706,833$ 5,359,679$ 1,998,768$ 10,065,280$ 76% Programs 75,000$ 223,720$ 1,000,000$ 1,298,720$ 10% Total 2,838,353$ 6,079,409$ 4,245,776$ 13,163,538$ 6E Lifetime Summary Collections - Housing 6/10/2026 New homes brought to market. 26 Fall River Village = 89 Beaver Brook = 20 Total New = 109 Preserved = 16 Land Purchased = 13.97 acres 6/10/2026 Workforce Rental Assistance 276/10/2026 HOW DO WE DEFINE ALL THE TERMS USED IN HOUSING? Local Definitions vs. Industry Norms 28 AFFORDABLE HOUSING: •Standard definition: Households pay no more than 30% of their gross income on housing costs Area Median Income (AMI) buckets | Local Wage •<80% AMI = Low-income 50% 80% •<50% AMI = Very low-income 30% 50% •<30% AMI = Extremely low-income 0% 30% Housing Terms Defined: $21.50 $34.38 $12.89 $21.49 $0.00 $12.88 $44,720 $71,510 $26,811 $44,699 $0.00 $26,7906/10/2026 Housing Terms & Definitions Continued 29 Attainable Housing: •Available housing that matches a community’s standard or predominant income levels and is generally attainable for members of the community –this can be and often is a wide range •Estes Park Code Definition: Housing units that are attainable to households earning 150% of the Larimer County AMI or below, adjusted for household size. (11.4.C) •This applies to renter and owner-occupied homes Workforce Housing: •Generally, housing that is restricted to members of the local working community. •Estes Park Code Definition: At least one resident in each unit…is employed within the Estes Park School District R-3 Boundary map. (11.4.4)6/10/2026 Housing Inventory 30 Restricted Town of Estes Park 4,380 Larimer County 5,130 Total 9,510 Housing Stock Property Units Bonus Density Homeowners 44 Yes Prospector 94 Yes Peak View 26 Yes Grand Estates 16 Yes Beaver Brook 19 Fall River 89 Yes** 420 Steamer 39 262 Stanley 4 Yes 444 Stanley 8 Yes R-1 Zone 5 Total 339 **No bonus used, as built 65 units at 16 d/u Workforce Restricted Units Type Development # of Units AMI Level Ownership Vista Ridge 29 <80% Ownership The Neighborhood 13 <120% EPHA - Rental Cleave Street 10 <60% EPHA - Rental The Pines 24 <60% EPHA - Rental Talons Pointe 44 <60% EPHA - Rental Lone Tree Village 57 <60% EPHA - Rental Falcon Ridge 48 <60% Private - Rental Trail Ridge 24 <60% Private - Rental Park Ridge 32 <60% Private - Rental South Saint Vrain 12 <60% H4H - Ownership Various Locations 5 <80% Total 298 Rental 251 Ownership 47 Income Restricted Units ** About 75% of Income-Restricted Occupied by Households Meeting the Local Definition of Workforce Units Brought to Market with density Bonuses: 2013 (150%) = 0 2017 (200%) = 188 6/10/2026 Rent Level Comparison 31 2025 Data 30%50%60%WF WF-Targeted @60% WF-Targeted @70% WF-Targeted @80%WF-Prospector 0-Bedroom 679$ 1-Bedroom 512$ 929$ 1,138$ 1,404$ 1,248$ 1,645$ 2-Bedroom 620$ 1,120$ 1,370$ 1,836$ 1,499$ 1,766$ 2,034$ 1,795$ 3-bedroom 1,299$ 1,588$ 2,164$ 2,350$ 2,099$ 4-Bedroom 2,636$ 0-Bedroom 32% 1-Bedroom 21%40%49%61%54%72% 2-Bedroom 22%41%50%67%54%64%74%65% 3-bedroom 41%50%68%74%66% 4-Bedroom 74% Income Qualified Workforce Restricted Actual AMI as Charged 6/10/2026 What does our local workforce look like through the AMI Lens? 32 Workforce Qualification Income Demographics Average Median Average Median General Workforce (Private) 54,000$ 39,520$ 60%44% Workforce Rental Assistance 54,468$ 54,636$ 61%61% Prospector - Attainable 74,272$ 93,600$ 83%105% Prospector - Workforce 82,519$ 70,000$ 92%78% Fall River Village 77,881$ 67,676$ 87%76% Income AMI Development 6/10/2026 What does our local workforce look like? 33 Employer Position Yearly High Range (@1560 hrs) Yearly High Range (@2080 hrs) 2025 AMI @ 1560 hrs 2025 AMI @ 2080 hrs 2-Equal Wage Earners AMI @1560 Hrs 2-Equal Wage Earners AMI @2080 Hrs2 2025 AMI @ 1560 hrs2 2025 AMI @ 2080 hrs3 YMCA Rockies Housekeeping 23,103.60$ 30,804.80$ 26%34%46,207.20$ 61,609.60$ 52%69% Estes Valley Recreation and Seasonal 23,103.60$ 37,440.00$ 26%42%46,207.20$ 74,880.00$ 52%84% Outdoor World Retail 28,080.00$ 37,440.00$ 31%42%56,160.00$ 74,880.00$ 63%84% Aspen Eye Care Optical Host 32,760.00$ 43,680.00$ 37%49%65,520.00$ 87,360.00$ 73%98% Estes Park Shuttle Local Ride Driver 31,200.00$ 45,760.00$ 35%51%62,400.00$ 91,520.00$ 70%102% YMCA Rockies Housekeeping Crew Leader 30,622.80$ 46,196.80$ 34%52%61,245.60$ 92,393.60$ 69%103% YMCA Rockies Houskeeping Manager 31,980.00$ 47,840.00$ 36%54%63,960.00$ 95,680.00$ 72%107% Estes Park Shuttle Shuttle Driver 31,200.00$ 49,920.00$ 35%56%62,400.00$ 99,840.00$ 70%112% Estes Park Shuttle Tour Guide 31,200.00$ 49,920.00$ 35%56%62,400.00$ 99,840.00$ 70%112% Safeway Front Entry Level 26,910.00$ 50,148.80$ 30%56%53,820.00$ 100,297.60$ 60%112% Safeway Pharmacy Tech 29,250.00$ 51,688.00$ 33%58%58,500.00$ 103,376.00$ 65%116% Safeway Produce Head 39,951.60$ 53,268.80$ 45%60%79,903.20$ 106,537.60$ 89%119% Safeway Head Baker 39,951.60$ 53,268.80$ 45%60%79,903.20$ 106,537.60$ 89%119% Safeway Scan Coordinator 39,951.60$ 53,268.80$ 45%60%79,903.20$ 106,537.60$ 89%119% Safeway Bakery Manager 43,071.60$ 57,428.80$ 48%64%86,143.20$ 114,857.60$ 96%128% Safeway Produce Manager 43,071.60$ 57,428.80$ 48%64%86,143.20$ 114,857.60$ 96%128% Estes Valley Library Patron Experience Librarian - 34,476.00$ 64,355.20$ 39%72%68,952.00$ 128,710.40$ 77%144% Estes Park Trolley CDL Driver 49,920.00$ 66,560.00$ 56%74%99,840.00$ 133,120.00$ 112%149% Estes Valley Recreation and Part Time 24,180.00$ 72,800.00$ 27%81%48,360.00$ 145,600.00$ 54%163% Town of Estes Park Street Equipment Specialist 34,669.50$ 78,308.00$ 39%88%69,339.00$ 156,616.00$ 78%175% Estes Park School Certified 36,000.00$ 88,000.00$ 40%98%72,000.00$ 176,000.00$ 81%197% Estes Park School Classified Hourly 27,409.20$ 89,918.40$ 31%101%54,818.40$ 179,836.80$ 61%201% Town of Estes Park Police Officer III 56,145.00$ 110,575.00$ 63%124%112,290.00$ 221,150.00$ 126%247% Estes Park School Admin 62,250.00$ 133,650.00$ 70%149%124,500.00$ 267,300.00$ 139%299% Snapshot of Local Job Openings –August 2025What does our local workforce look like through the AMI Lens? 6/10/2026 Deed Restricted Housing Occupancy 34 Estes Park Housing Authority Deed Restricted Housing Occupancy - Estes Valley Property Category Total Units Vacant Units Vacant EPHA Income Qualified 183 3 99% EPHA Workforce - Stabilized Properties 61 1 99% EPHA Workforce - Fall River Village (Lease-Up Phase)89 28 69% Private Income Qualified 69 0 100% Workforce - Private 90 7 92% Workforce - Prospector 94 8 92% Deed Restricted Ownership 51 0 100% Total 637 46 7.22% 6/10/2026 Private Rentals 35 Snapshot of more than 30 active rental listing from Zillow, Craigslist, and private property management companies Unit Size Ave Monthly Rent Ave AMI Median Month Rent Median AMI Median AMI w/Assistance Reduction in AMI 1-Bedroom 1,599$ 67%1,698$ 71%54%-17% 2-Bedroom 2,673$ 93%2,213$ 77%63%-14% 3-Bedroom 3,381$ 102%3,300$ 99%87%-12% 4-Bedroom 3,675$ 99%3,550$ 96%85%-11% 5-Bedroom 4,498$ 109%4,498$ 109%99%-10% Active Rental Listing - August 2025 6/10/2026 Home Ownership I want the American Dream of Homeownership – can I afford it? 36 What does home ownership look like?Estes Park Housing Authority Home Ownership Affordability Matrix - Attainable Development Code Provision @ <150% AMI Home Price Mortgage (5% Down) Salary Required @35% housing cost Ave Hrly Wage | 2-Earner AMI%: 2- Person HSHLD AMI%: 3- Person HSHLD AMI%: 4- Person HSHLD AMI%: 5- Person HSHLD 375,000$ 2,727$ 93,497$ 22$ 92%81%73%68% 425,000$ 3,091$ 105,977$ 25$ 104%92%83%77% 475,000$ 3,454$ 118,423$ 28$ 116%103%93%86% 525,000$ 3,818$ 130,903$ 31$ 128%114%103%95% 575,000$ 4,181$ 143,349$ 34$ 140%125%112%104% 625,000$ 4,545$ 155,829$ 37$ 153%136%122%113% 650,000$ 4,727$ 162,069$ 39$ 159%141%127%118% 767,500$ 5,569$ 190,937$ 46$ 187%166%150%138% **last row $767,500 = median YTD price of sold detached homes in 2025 through June Estes Park Housing Authority Home Ownership Affordability Matrix - Attainable Development Code Provision @ <150% AMI Home Price Mortgage (20% Down) Salary Required @35% housing cost Ave Hrly Wage | 2-Earner AMI%: 2- Person HSHLD AMI%: 3- Person HSHLD AMI%: 4- Person HSHLD AMI%: 5- Person HSHLD 375,000$ 2,188$ 93,771$ 23$ 92%82%73%68% 425,000$ 2,479$ 106,243$ 26$ 104%92%83%77% 475,000$ 2,771$ 118,757$ 29$ 116%103%93%86% 525,000$ 3,063$ 131,271$ 32$ 129%114%103%95% 575,000$ 3,354$ 143,743$ 35$ 141%125%113%104% 625,000$ 3,646$ 156,257$ 38$ 153%136%122%113% 650,000$ 3,792$ 162,514$ 39$ 159%141%127%118% 767,500$ 4,465$ 191,357$ 46$ 187%167%150%139% **last row $767,500 = median YTD price of sold detached homes in 2025 through June Median Sales YTD 2025 Estes Park: Detached = $530,500 Attached = $ 767,5006/10/2026 Home Ownership I want the American Dream of Homeownership –can I afford it? Will it fit my families needs? 37 What does the housing market look like in the Estes Valley now??? Unit Size Ave Price # of Listings Ave Year Built Ave Age 1-Bedroom 419,000$ 1 1907 118 2-Bedroom 680,190$ 10 1978 47 3-Bedroom 976,564$ 67 1986 39 4-Bedroom 1,286,958$ 26 1980 45 5-Bedroom 1,605,800$ 5 1972 53 6-Bedroom 6,199,500$ 2 2014 11 7-Bedroom 2,350,000$ 1 1940 85 Blank 2,550,000$ 2 1933 92 Average 1,175,347$ 114 1982 43 Median 934,500$ 1986 39 Active MLS Listings - Detached - August 2025 Unit Size Ave Price # of Listings Ave Year Built Ave Age 1-Bedroom 310,000$ 2 1979 46 2-Bedroom 471,202$ 22 1992 33 3-Bedroom 669,473$ 22 2008 17 4-Bedroom 799,800$ 1 2000 25 Average 564,141$ 47 1999 26 Median 554,000$ 1998 27 Active MLS Listings - Attached - August 2025 Healthy Markets: Home Sales = 4 –6 months of inventory | Estes end of July = 5.6 month Rentals = 5-7% balanced | Estes as of August 1 = 14.94%6/10/2026 Home Ownership I want the American Dream of Homeownership –can I afford it? Will it fit my families needs? 38 Where will the Trailhead Down Payment Assistance Program fit in –Current Market Perspective Listings 18 Ave Price 563,272$ Ave Bedrooms 2.66 Ave Age 72 # Built After Year 1995 1 Detached - Eligible Listings 30 Ave Price 458,945$ Ave Bedrooms 2.23 Ave Age 33 # Built After Year 1995 15 Attached - Eligible 6/10/2026 Fish Hatchery 396/10/2026 Fish Hatchery 406/10/2026 Fish Hatchery 416/10/2026 Fish Hatchery 426/10/2026 Fish Hatchery 436/10/2026 Fish Hatchery 446/10/2026 T h a n k y o u ! 456/10/2026 Housing T e r m i n o l o g y & D e f i n i t i o n s 466/10/2026 Discussion Objectives •Define common terms used •Outline the role and impact of EPHA •Brief overview of how housing development becomes a reality •How zoning impacts development, and hinders market forces Today’s Discussion: •Collaborative •Ask Questions •Community Focused •Partners •Leading Questions 476/10/2026 Thoughts to Ponder: "Our Great American Housing Depression is fueled by our cultural aversion to one another. We are Neighbors. We are not Invaders. Until we ask ourselves why we are so afraid of one another the depression rages on..." ~ Peter Lifari - CEO Maiker Housing Partners 486/10/2026 Housing Terms & Definitions Continued 49 AFFORDABLE HOUSING IS WORKFORCE HOUSING What does affordable housing NOT mean? •Housing that receives public subsidy (although that is one method used to create affordable housing) 6/10/2026 Housing Terms & Definitions Continued 50 What does the term low-income or income- qualified mean? •HUD defines low-income as households whose income does not exceed 80% of the area median income or AMI. •Families whose income does not exceed 50% of AMI are considered very low-income. Income-Qualified or Low-Income Housing: •Generally, housing units are set aside with income restrictions of 60% AMI or lower. •Programs that support income-qualified housing have expanded in recent years to encompass incomes up to 80% of AMI. 6/10/2026 Housing Terms & Definitions Continued 51 What is Area Median Income or AMI? •Each year the US Department of Housing and Urban Development (HUD) calculates the median family income for each county or multicounty metro area. •Maximum rent limits based on these AMI levels are established at the same time 6/10/2026 Housing Terms & Definitions Continued AMI In Real Numbers 52 2024 Area Median Income and Rent Limits for Larimer County: AMI Limits 1-Person 2-Person 4-Person 30%24,960$ 28,530$ 35,640$ 60%49,920$ 57,060$ 64,200$ 80%66,560$ 76,080$ 95,040$ 100%83,200$ 95,100$ 118,800$ 125%104,000$ 118,875$ 148,500$ 150%124,800$ 142,650$ 178,200$ AMI Limits 1-Person 2-Person 4-Person 30%12.00$ 6.86$ 8.57$ 60%24.00$ 13.72$ 15.43$ 80%32.00$ 18.29$ 22.85$ 100%40.00$ 22.86$ 28.56$ 125%50.00$ 28.58$ 35.70$ 150%60.00$ 34.29$ 42.84$ 2 Earners 2 Earners6/10/2026 Housing Terms & Definitions Continued What does this mean for rental rates? 53 2024 Area Median Income and Rent Limits for Larimer County: Rent Limits AMI Limits 1-Bedroom 2-Bedroom 3-Bedroom 30%668$ 802$ 927$ 60%1,337$ 1,605$ 1,854$ 80%1,783$ 2,140$ 2,472$ 100%2,228$ 2,675$ 3,090$ 125%2,785$ 3,344$ 3,863$ 150%3,342$ 4,013$ 4,635$ 6/10/2026 Housing Terms & Definitions Continued 54 Deed Restriction: •Places a legal and enforceable condition on the deed to a property, setting out certain limits or conditions of acceptable uses. •Usually has set time parameters ranging from 20-99 years. •Terms used as synonyms: restrictive covenants, ‘run with the land’ •Land Use Restriction Agreement (LURA): Essentially a deed restriction, used in LIHTC Developments. 6/10/2026 Housing Terms & Definitions Continued 55 Capital Stack: •Is the funding or investment structure of a project •The bottom of the capital stack has the first priority for repayment if the organization defaults on its obligations. •Equity in the project helps attract funders who bring senior debt. 6/10/2026 Affordable & Attainable Housing Benefits 566/10/2026 Benefits of Diverse Housing Options 57 COMMUNITY BENEFITS OF AFFORDABLE AND ATTAINABLE HOUSING: Residents: •Affordable housing options reduce financial strain, frequent moves, material hardship, and long commute times. Economic Development: •Healthy, vibrant communities are a key factor in attracting and retaining predominant industries – tourism for Estes Park. •Affordable housing options at different AMI levels ensure diversity in the labor force and skills that are vital to local economies.6/10/2026 Benefits of Diverse Housing Options Continued 58 Health: •Affordable housing leads to better health outcomes for residents. Educational Institutions: •Students who are living in unstable housing or who are unsheltered have lower performance at school. •Stable and affordable housing of quality improves school performance. Neighborhood Prosperity: •Residents have more choices about the neighborhoods they want to live in, and the neighborhoods benefit from increased income diversity. 6/10/2026 What is the Estes Park Housing Authority? 596/10/2026 THE ESTES PARK HOUSING AUTHORITY (EPHA) 60 Governance: •Governed by a Board of Commissioners of seven members appointed by the Estes Park Town Trustees Funding: •EPHA is funded by the rents charged to our residents •Outside of the average Town of Estes Park base funding contribution of $30k-$50k, the ONLY source of funding is rents charged. •EPHA DOES NOT RECEIVE STATE OR FEDERAL FUNDING FOR OPERATIONS. 6/10/2026 THE ESTES PARK HOUSING AUTHORITY (EPHA) CONTINUED 61 Property Management: •Property manager of 335 homes in the Estes Valley representing approximately 10% of Estes Park’s year- round residents. (about 5% of Estes Valley) Developer: •EPHA has developed or redeveloped with partners or independently, Lone Tree, Cleave Street, Pines, Vista Ridge, Talons Pointe, Falcon Ridge, Peak View. Programs: •Down Payment Assistance. •Deed Restriction Monitoring and Qualification for nearly 350 homes in the Estes Valley. •Vista Ridge, The Neighborhood, Wildfire, Grand Estates, and more. 6/10/2026 THE ESTES PARK HOUSING AUTHORITY (EPHA. CONTINUED 62 EPHA Income Aligned Rents 2024-2025: •30% AMI = $497 -$602 for 1 & 2-bedroom homes •40% AMI = $699 -$983 for 1, 2, & 3-bedroom homes •50% AMI = $902 –$1,261 for 1, 2, & 3-bedroom homes •60% AMI = $1,105 -$1,542 for 1, 2, & 3-bedroom homes EPHA Workforce Rents 2024-2025: •1-Bedroom = $1,248 -$1,363 •2-Bedroom = $1,499 -$2,034 •3-Bedroom = $2,101 -$2,350 •4-Bedroom = $2,399 -$2,636 6/10/2026 THE PROSPECTOR APARTMENTS 63 The Prospector Apartments Anticipated Rents: •1-Bedroom = $1,945 -$1,975 •2-Bedroom = $2,135 -$2,350 •3-Bedroom = $2,585 -$ 2,585 Associated Household Income Levels affordability at 30% ratio: •1-Bedroom = $77,800 -$79,000 •2-Bedroom = $85,400 -$94,000 •3-Bedroom = $103,400 -$ 103,400 6/10/2026 How is affordable and attainable housing 646/10/2026 How do you build deeply affordable housing? Or capital “A” affordable 65 Supply Cost Side •Answer 1a:Build it 25 years ago!! •Answer 1b: Increase the value of tax credits & gap financing sources. Rent at 30%-50% average AMI require large subsidy (equity) to allow adequate debt service. •Add inventory to create a less scarce resource (cannot and does not add to deep affordability, but is critical to the housing lifecycle) Income!! •Answer 2: If affordability is defined as spending 30% of income on housing costs, another solution is to pay our workforce higher wages. 6/10/2026 HOW IS HOUSING CREATED? 66 Two Main Types of Affordable Housing: •Dedicated affordable housing •Naturally occurring affordable housing (NOAH) Dedicated Affordable/Attainable Housing: •Created by developers using governmental subsidy, affordability requirements, or incentives. •Restricted land use to affordable levels •Subsidy: at a national and local level the strongest tool affordable housing developers have is the Low- Income Housing Tax Credit Program or LIHTC. •Subsidy is required to create housing that matches the income levels of a community. •Construction cost is materially the same for all developers. 6/10/2026 HOW IS HOUSING CREATED? CONTINUED 67 Dedicated Affordable/Attainable Housing Continued: •Subsidy used/available includes but is not limited to: LIHTC, Housing Finance Authority programs/grants, tax-exempt bonds, Housing Trust Funds, Capital Magnet Funds, State Tax Credits, General Obligation Bonds, HOME program, etc. •Affordability requirements in development codes, for example; a share of units in a specific development set aside for specific income levels. •Incentives: bonus density is most common Capital Stack Tools: •Conventional debt, tax credits, subordinate debt, fee waivers, governmental programs, grant equity, owner/developer equity, local programs. 6/10/2026 Housing Terms & Definitions Continued 68 Capital Stack: •Is the funding or investment structure of a project •The bottom of the capital stack has the first priority for repayment if the organization defaults on its obligations. •Equity in the project helps attract funders who bring senior debt. 6/10/2026 HOW IS HOUSING CREATED? CONTINUED 69 Naturally occurring affordable housing: •Generally housing which is created without subsidy, but do not have associated affordability restrictions. •Most commonly older housing stock with little or no debt. •Critical to the housing infrastructure of our community. •Focus on preservation. 6/10/2026 Challenges and Barriers to Increasing Attainable 706/10/2026 CHALLENGES TO CREATING ATTAINABLE HOUSING STOCK. 71 What are the primary challenges to creating and preserving attainable housing options: •Money •SUSTAINABLE FINANCIAL MODEL •APPROPRIATELY ZONED LAND •Costs: land, materials, labor, professional services •Public opposition •Risk and uncertainty •Competition for limited supply of financing •Regulatory barriers •Local capacity •ZONING 6/10/2026 Some Thoughts to Ponder… Let us be honest about our impact on the cost of housing… 72 Housing debates, like it or not, are dominated by a simple question: who shows up—and how many? What if the vocal minority isn’t so minor? What if their inspiration—"save our community"—fuels relentless action? What if their motivation—fear of lower home values, crime, and traffic—keeps them showing up every time? What if their prompt—a public hearing—compels them to dominate the conversation, over and over? What if the oft-referred silent majority isn’t really a majority at all? What if their inspiration—affordable housing—isn’t enough to spark action? What if their motivation—a thriving, stable community—stays theoretical, without urgency or fear? What if their prompt—a public hearing—passes quietly, unnoticed or ignored? What if, to decision-makers, the vocal minority becomes the majority— simply because they act? What if the silent majority loses its voice, its power, and its impact— because it stays silent? The balance of influence won’t shift until supporters of housing reforms change their behaviors. Showing up is power. Acting is power. What will it take for the in theory silent majority to step out of the shadows and into the game?6/10/2026 Some Thoughts to Ponder… Let us be honest about our impact on the cost of housing… 73 What if folks don’t truly want affordable housing? What if people desire exclusivity over affordability? What if housing is seen as a meritocracy—a reflection of ambition and success, not a basic need? What if opposition to reforms exposes a preference for privilege over affordability? What if we’ve been telling ourselves what we want to believe, instead of listening to what the public is really saying? What if the housing we have is the housing we truly want—regardless of the cost and societal outcomes? What do you believe? 6/10/2026 T h a n k y o u ! E n d o f H o u s i n g a n d A M I P r i m e r 746/10/2026 H O U S I N G N E E D P R I M E R : A P E E K A T T H E N A T I O N A L C O N D I T I O N Presented By Scott Moulton - Executive Director of the Estes Park Housing 756/10/2026 THE HOUSING MISMATCH 1. 766/10/2026 BY 205022% OF AMERICANS WILL BE SENIOR CITIZENS Data Source: Arthur C. Nelson CHANGING DEMOGRAPHICS: AGE 776/10/2026 DATA SOURCE: AARP Publication - Making Room https://www.aarp.org/livable-communities/housing/info-2018/making-room-housing-for-a-changing-america.html IN THE 1950S, 43% OF HOUSEHOLDS WERE NUCLEAR FAMILIES; 9% WERE SINGLES LIVING ALONE CHANGING DEMOGRAPHICS: HOUSEHOLD SIZE 786/10/2026 Data Source: Arthur C. Nelson, Reshaping Metropolitan America 83% OF HOUSEHOLDS IN THE U.S. WILL HAVE NO CHILDREN BY 2030 CHANGING DEMOGRAPHICS: HOUSEHOLD SIZE 1950 3.8 983 292 NUMBER OF PEOPLE PER HOUSEHOLD AVERAGE SF OF NEW SINGLE-FAMILY HOME SF OF LIVING SPACE PER PERSON 2017 2.5 2,571 1,012 x3.5 DATA SOURCE: AARP Publication: The ABCs of ADUs CHANGING DEMOGRAPHICS: HOUSEHOLD SIZE 806/10/2026 1950: 3.8 PEOPLE PER HOUSE 2017: 2.5 PEOPLE PER HOUSE 2030: 2.0 +/- PEOPLE PER HOUSE 50% MORE HOUSES NEEDED FOR THE SAME # OF PEOPLE 100% MORE HOUSES NEEDED FOR THE SAME # OF PEOPLE CHANGING DEMOGRAPHICS: HOUSEHOLD SIZE 816/10/2026 Data Source: Arthur C. Nelson, The Great Senior Short-Sale of Why Policy Inertia Will Short Change Millions of America’s Seniors HOUSING DEMAND 826/10/2026 Data Source: Arthur C. Nelson, The Great Senior Short-Sale of Why Policy Inertia Will Short Change Millions of America’s Seniors HOUSEHOLD TYPES 836/10/2026 Data Source: Arthur C. Nelson, The Great Senior Short-Sale of Why Policy Inertia Will Short Change Millions of America’s Seniors SUPPLY vs DEMAND: HOUSING TYPE 846/10/2026 Data Source: HUD, 2014 68% OF U.S. HOUSING STARTS IN 2012 WERE SINGLE FAMILY HOMES SUPPLY vs DEMAND: HOUSING TYPE Data Source: U.S. Census Bureau and https://ipropertymanagement.com/research/housing-starts#sources 70% OF U.S. HOUSING STARTS IN 2022 WERE SINGLE FAMILY HOMES SUPPLY vs DEMAND: HOUSING TYPE DECLINE OF SMALLER/ STARTER HOME CONSTRUCTION, 1973-2021 PE R C E N T OF TO T A L NE W HO U S I N G 45 % 40 % 35 % 30 % 25 % 20 % 15 % 10 % 5% 0%1975 1980 1985 1990 1995 2000 2005 2010 2015 2020 NOTE: SMALLER HOMES REFERS TO HOMES LESS THAN 1,400 SF SUPPLY: SMALL HOME CONSTRUCTION DATA SOURCE: Characteristics of New Housing - U.S. Census 876/10/2026 DATA SOURCE: AARP Publication: Making Room https://www.aarp.org/livable-communities/housing/info-2018/making-room-housing-for-a-changing-america.html SUPPLY vs DEMAND: HOUSING TYPE 886/10/2026 Data Source: Arthur C. Nelson, The Great Senior Short-Sale of Why Policy Inertia Will Short Change Millions of America’s Seniors SUPPLY vs DEMAND: WALKABLE NEIGHBORHOODS 896/10/2026 Data Source: Arthur C. Nelson CONVENTIONAL, SINGLE- FAMILY NEIGHBORHOOD WALKABLE NEIGHBORHOODS5%-10% 90%-95% LOCATION OF AVAILABLE HOUSING STOCK +/-10% +/-90% SUPPLY vs DEMAND: WALKABLE NEIGHBORHOODS 906/10/2026 A LACK OF THE RIGHT KIND OF SUPPLY FOR A GROWING DEMAND RESULTS IN RISING COSTS 916/10/2026 TODAY’S HOUSING CRISIS STATISTICS 2. 926/10/2026 DATA SOURCES: AARP Making Room, 2018 Standard & Poor’s Case-Shiller National Home Price Index Table 11A. Median Asking Rent for the U.S. and Regions: 1988 to Present, U.S. Census Bureau SINCE 1998, RENTS AND HOME PRICES HAVE RISEN PRECIPITOUSLY. HOUSING AFFORDABILITY 936/10/2026 DATA SOURCES: AARP Making Room, 2018 Standard & Poor’s Case-Shiller National Home Price Index Median Household Income in the United States & Median Household Income in Georgia, U.S. Census Bureau OF AMERICAN HOUSEHOLDS ARE COST-BURDENED INCOMES HAVEN’T COME CLOSE TO KEEPING UP. AND THIS IS PRE- PANDEMIC DATA 1/3 INCOME CHALLENGES 946/10/2026 IN 2022, A RECORD-HIGH 22.4 MILLION RENTER HOUSEHOLDS SPENT MORE THAN 30% OF THEIR INCOME ON RENT & UTILITIES. DATA SOURCES: JOINT CENTER FOR HOUSING STUDIES OF HARVARD UNIVERSI TY 956/10/2026 COST BURDENED>30% INCOME SPENT ON HOUSING>50% INCOME SPENT ON HOUSING + TRANSPORTATION COST-BURDENED HOUSEHOLDS 966/10/2026 THE HOUSING LADDER 976/10/2026 ECONOMIC EXCLUSION IS RACIAL EXCLUSION 2022 MEDIAN WEALTH OF: https://www.federalreserve.gov/econres/notes/feds-notes/greater-wealth-greater-uncertainty-chang- es-in-racial-inequality-in-the-survey-of-consumer-finances-accessible-20231018.htm#fig1 WHITE FAMILIES 5-6x HISPANIC FAMILIES (22% OF WHITE FAMILIES) $285,010 $61,620 $44,890 BLACK FAMILIES (16% OF WHITE FAMILIES) 986/10/2026 100% DEEPLY AFF. ATTAINABLE 1/2 OF HOUSEHOLDS BELOW 100% AMI 1/2 OF HOUSEHOLDS ABOVE 100% AMI MIDPOINT OF REGIONAL INCOME DISTRIBUTION 30% 60% 80% AMI 120%140% AFFORD . MARKET RATE MIN. INCOME MAX. INCOME AREA MEDIAN INCOME (AMI) 996/10/2026 E S T E S V A L L E Y H O U S I N G N E E D S A S S E S S M E N T & S T R A T E G I C P L A N Presented By Scott Moulton - Executive Director of the Estes Park Housing Authority - with material created by Root Policy Research 106/10/2026 Socio- economic Trends -Aging population (and declining % of children). -Job growth outpacing housing production. -Jobs concentrated in low-wage, seasonal sectors. -Disparities in income gains. Age Profile Job Projections 1016/10/2026 Housing Stock: The pace of housing unit growth in the past decade was the slowest since the 1960s, and use of existing homes is trending toward more seasonal/recreational use. 6Occupancy and Vacancy of Housing Units; Town of Estes Park 106/10/2026 Rent and sale price increases outpaced income gains… Median Sales Price approaching $600,000 in Estes Park Average asking rent for current listings: (up 32% from $1,395 in 2015)$1,845 10 per month 6/10/2026 Rent and sale price increases outpaced income gains… Median Sales Price in 2024 = $809,000 Detached 10 Median Sales Price in 2024 = $580,000 Attached 6/10/2026 Housing Gaps Analysis 10 Acute need at lower income levels but workforce needs persist up to $100,000 incomes, particularly for ownership options. Maximum Affordable Rental (Curren Demand Renters) Rental Supply (Current Units)Cumulative Renter Incomes Gross Rent Number Percent Number Percent Gap Gap Less than $25,000 $625 491 32%250 16%(241)(241) $25,000 - $35,000 $875 331 22%447 9%116 (125) $35,000 - $50,000 $1,250 100 7%435 9%335 210 $50,000 - 100,000 $2,500 360 24%368 7%8 218 $100,000 or more 234 15%41 1%(193)25 Maximum Affordable Potential (Current Demand Renters) For-Sale Supply (Sales 8/21-8/22)Cumulative Renter Incomes Home Price Number Percent Number Percent Gap Gap Less than $25,000 $93,700 491 32%5 2%-30%-30% $25,000 - $35,000 $131,200 331 22%2 1%-21%-51% $35,000 - $50,000 $187,400 100 7%5 2%-5%-56% $50,000 - 100,000 $374,800 360 24%44 15%-9%-65% $100,000 or more 234 15%231 80%65%0% 6/10/2026 Housing Gaps Analysis Options for Renters Wanting to buy, Estes Park 2022 COMMUNITY ENGEAGEMENT 106/10/2026 In- Commuter Housing Choice In-commuters are interested in living in Estes but couldn’t find housing that met their needs (quality and price-point). When you were looking for your current 11 housing, did you consider living in the EstesValley? 106/10/2026 Resident Housing Challenges •68% of residents said they face some type of housing challenge (even higher for renters, low/moderate income households, and minority groups) •Displacement is higher than in 2016: 26% of all residents and 43% of renters said they’ve had to move when they didn’t want to in the past 5 years. •77% of renters want to buy in Estes, but most don’t think they will be able to (due to affordability and availability). Do you face any of these challenges in your housing situation? 68% YES 1096/10/2026 Additional Community & Stakeholder Perspectives 110 •Most seasonal workers have considered living in the valley but have friends family elsewhere (49%), can’t find a permanent job (40%) or can’t find housing (27%). •Seasonal owners are primarily motivated by a desire to retire in Estes and vacation options; over half have future plans to live in Estes. •Stakeholders highlighted housing affordability as a key issue for the community—both as an economic development need and a social services issue. In addition to affordability, overcrowding of existing housing units was identified as a key concern among housing and service providers. They attribute such overcrowding to a lack of both availability and affordability of units and note that this trend disproportionately impacts service workers, Hispanic residents, and households with undocumented members. Economic development representatives and business owners in the Valley are acutely concerned about housing for workers which created material barriers to employee recruitment and retention. Residential developers highlighted infrastructure costs and land availability as barriers to attainable housing development and encouraged the Town to pursue public-private partnerships for affordable and workforce development (e.g., incentives, subsidies, etc. for affordable production). 6/10/2026 H O U S I N G N E E D S SUMMARY 116/10/2026 Housing Needs: Catch Up & Keep Up 116/10/2026 Housing Needs by Income *based on current income profile and current tenure . Catch up: 1,220 units Keep up: 1,500 units 116/10/2026 Projected New Households by 2030, Estes Valley, Based on Job Growth *Assumes similar household type and ownership distribution remain constant 116/10/2026 H O U S I N G STRATEGIC PLAN 11 The recommendations of this Action Plan were informed by the findings of the Housing Needs Assessment update, local stakeholder guidance, and emerging best practices from other rural and resort communities in Colorado. 6/10/2026 Working age households have stable, desirable housing in the Estes Valley, enabling them to support our local economy, provide essential services, and thrive as vital members of our community.Vision Create and preserve 550 to 700 dwelling units affordable to the local workforce over the next five to seven years.Goal •Increase the preservation and creation of workforce housing, so that the Estes Valley begins to improve availability and affordability of housing to the workforce. •Match housing investments with areas of greatest need in the workforce community. •Create neighborhoods that are desirable, compatible and affordable for the long term. Objectives •Collaboration—strong collaborative approach between EPHA and Town of Estes Park, and across the broader community •Equity and inclusion—inclusive approach with particular attention to populations most impacted by rising costs. •Accountability and stewardship—transparent processes for allocating resources, prioritizing investments, ensuring fair access to the housing created, and managing housing resources. Values 191166/10/2026 Framework for Implementation 19 Clear roles and responsibilities, within a collaborative framework, will help to create efficiency, transparency, and accountability. A summary of recommended roles for lead agencies is below; private sector and non-profit partners also bring knowledge, skills, and resources that are vital to the success of this housing strategy. Town of Estes Park Estes Park Housing Authority Oversight of local housing funding Development partnerships Land Use Policy, Land Use Review Process, Building Permits and Inspections Property management and Deed Restriction Compliance Code Enforcement Land and Property Acquisition; Affordable Development ADU Incentive Policy Deed Restriction Purchase Program Land Use Code Updates and Missing Middle Strategy Reinvestment in existing affordable housing inventory ADU Incentive Program 1176/10/2026 Priority Actions This housing action plan is intended to set out the actions and strategies that will achieve the communities’ housing goals. Strategies are organized under preservation, new supply, funding and policy, community outreach and client support, and capacity building and can be applied to rental, owner, and seasonal workforce housing. Strategy and Action Lead Year Agency 2023 2024 2025 2026 Preservation 1 Property acquisition EPHA 2 Asset Plan Housing Authority Portfolio EPHA 3 Deed restriction buy down EPHA 4 Renovation, Rehab, Weatherization Energy Resource Ctr. New Supply 5 Current Project Success TOEP/EPHA 6 Partnerships EPHA 7 Land Acquisition EPHA 8 Employer Collaboration TBD 9 ADU incentives TOEP/EPHA 10 Fee Incentives TOEP Funding and Policy 11 Program Development for Local Sources TOEP 12 Leverage Outside Sources TOEP/EPHA 13 Development Code Updates TOEP Community Engagement and Client Support 14 Home Purchase Assistance EPHA 15 Rent Assistance EPHA 16 Equity and Inclusion TOEP/EPHA 17 Education, outreach, and housing hub TOEP/EPHA Organizational Capacity Building 18 Increase staff TOEP/EPHA 19 Systems development TOEP/EPHA 201186/10/2026 Preservation Strategies Property acquisition —Purchase existing structures that are currently occupied by the local workforce but might be at risk of converting to a different use. Asset Plan Housing Authority Portfolio —EPHA’s 209 rental units are vital workforce and senior housing assets, some of which need to be considered for capital improvements and/or repositioning in the market. Deed restriction buy down—Create an incentive program to encourage prospective local buyers of homes to place price-capped restrictions and/or workforce restrictions on their homes in exchange for cash. Another variation of this tool is a “buy down,” where a public or non-profit entity purchases homes and resells them at a lower price with a deed restriction in place. Renovation, Rehab, Weatherization—Investing in and enhancing the programs such as weatherization and revolving loans for health and safety improvements that support lower income renters and owners is another important housing preservation tactic. Retaining and improving the current inventory of housing that supports the local workforce must go hand in hand with creating new opportunities. 1. 2. 3. 4. 216/10/2026 Increase Housing Supply The Needs Assessmentestablishes that morehousing is neededacross a wide range ofprice points, tenure,size, and type (duplex, triplex, apartments, small houses, etc.). Increasing the varietyof housing choices willenable households across different life phases to thrive in the Estes Valley. Current Project Success—Three projects in the development pipeline (Prospector, Fish Hatchery, and Habitat for Humanity) will do much to support community housing needs but face strong headwinds in light of high construction costs, labor shortages and rising interest rates. Partnerships —partner with developers from the private or non-profitsector to construct new workforce housing in the Estes Valley. Property owned by local government or institutional employers and local funding could be leveraged for this purpose. Other incentives could include support with extending water, sewer and streets, density bonuses, fee waivers associated with the development review process, tap fee amortization, property management, and/or other subsidies. Land Acquisition —Pursue use of existing government and institutionally owned land to support housing goals, and purchase of land where workforce housing could be developed in the future. Employer Collaboration—Increase and formalize employerengagement on housing solutions. This could take the form of an employer forumand implementation plan. ADU incentives—Recent regulatory updates could be supported with afinancial incentive program to help construction of ADUs make financial sense forhomeowners. This incentive could be in the form of a direct subsidy, forgivable loan, or must -pay loan that is subordinate to the home mortgage. Fee Incentives for deed restricted housing—In process; recommendation is to move forward with workforce housing fund updates and adoption of the revised recommendations in 2023. 5. 6. 7. 8. 9. 10. 22126/10/2026 Funding and Policy Program Development for Local Sources—The recentsuccessful ballot measure for 3.5% lodging tax increment means thecommunity will have an estimated $5 million annually to invest in workforcehousing and childcare. Setting up predictable and transparent processes nowfor how the funding will be deployed will help to create effective processes going forward, building confidence for tax payers and implementation partners. Leverage Outside Sources—Estes Park has the opportunity to draw in resources from outside sources including the state, federalgovernment, and philanthropy to support the community’s housing goals. Development Code Updates—The Town is embarking on aland use code to create better alignment with the Comp Plan goals. The waysin which code supports or detracts from housing affordability should beconsidered at each step in this process. For example, more land that is zonedto accommodate “missing middle” forms of housing such as duplexes,triplexes, small cottages, shared living, townhouses, and attached housing with 4-16 residences in a building. Opportunities for using land more efficiently, and doing compact, higher intensity residential development are imperative for meeting the Estes Valley long-term housing needs and preventing rural sprawl. The Town of Estes Park will typically be the lead agency with regard to policy and funding initiatives. The three strategies at right are recommended to commence in 2023.. 11. 12. 13. 221216/10/2026 Community Engagement and Client Support Home Purchase Assistance—As interest rates rise, household’s purchasing power is being eroded, downpayment assistance, assistance with closing costs, and access to competitive (or below market) interest rate loans is increasingly important. Existing down payment assistance programs offered through EPHA and Larimer County could be bolstered and better funded. Other potential programs include interest rate buy-down and cash-buyer programs. Rent Assistance—Create a fund for rental/lease assistance for members of the local workforce who sign a new 12-month lease in the Estes Valley based on predetermined eligibility criteria. Equity and Inclusion—Keep support for Hispanic community and other groups disproportionately impacted by residential displacement and affordability challenges at the forefront of each housing effort. Education, outreach, and housing hub—Be proactive in sharing success stories, progress, and project updates, and creating touch points for members of the community to stay informed, engaged, and provide feedback. A basic first step is a “one stop shop” website with housing resources and information for people seeking housing and interested in understanding current programs and opportunities, and an online portal for housing applications. These strategies are recommended to support local workforce in a direct, immediate way, and as a long- term investment in community engagement and understanding of housing efforts. While these investments do not contribute to the long- term inventory of workforce housing, they can provide vital assistance in near term, helping to bridge the gap between the current housing crunch and strategies that take years to implement. 14. 15. 16. 17. 236/10/2026 Organiza - tional Capacity Building use and planning team, transparent governance, and strong executive leadership. To implement the housing initiatives of this action plan, a full-time staff person dedicated to workforce and affordable housing is needed. Similarly, EPHA has strengths in the areas of Board expertise, property management, and a recent internal promotion of a knowledgeable and experienced Executive Director. The consultant team recommends funding and hiring 2 EPHA positions: a real estate development director position and an asset and eligibility manager position. Systems development —Taking the time to put good systems in place now will help ease management and increase public confidence going forward. Program development for the dedicated funding is covered above. Other important areas of systems development are a good database for property management, a comprehensive, centralized system for deed restriction tracking and compliance. For the community to move from status quo to proactively addressing housing needs and gaps, a significant increase in staff capacity and organizational systems will be needed. 18. Increase staff—Current strengths for Town of Estes Park are its land 19. 246/10/2026 The Town of Estes Park is committed to providing equitable access to our services. Contact us if you need any assistance accessing material at 970-577-4777 or townclerk@estes.org. Future Study Session Items June 23, 2026 • Water Rate Study • Business Support Strategic Objective • Downtown Plan Approach July 14, 2026 • Police Department Facility Financing • Administrative Regulations Enforcement Process • Housing Definitions and Density Bonuses in the Development Code July 28, 2026 • Development Code Update 50% Draft Review August 11, 2026 • Visit Estes Park Dark Sky Ordinance • Policy 102 (Town Committees) Liaison Review • Policy 102 (Town Committees) Focus Groups Draft August 25, 2026 • Annexation of Enclaves Follow Up Items Approved - Unscheduled • Growth Management Areas Overview • Structure of Potential Development Agreement with Whimsadoodle and the Estes Park Housing Authority for Cleave Street Development • Liquor License Process • Winter Event Strategy Proposal • Seasonal Housing Issues • Parking License Plate Recognition Policy Items for Town Board Consideration • None