Durango, CO:
The City of Durango Housing Innovation Division is launching a new housing program to help bridge the gap between income levels and local rental prices.
The City of Durango Housing Innovation Division has extended the application deadline on a new housing program called “Leasing for Locals” Rental Subsidy Voucher Program, to Nov. 28 at 10a.m.
The application for “Leasing for Locals” rental subsidy opened on Oct.26, 2023, at 10 a.m. and the deadline has now been extended to Nov. 28, 2023 at 10 a.m., to allow an application review period by Housing Solutions of the Southwest.
This program will increase Durango’s housing supply by providing 30 new multi-family below-market rentals to the local workforce. These units aim to bridge the disparity between income and market rate and affordable rental prices. The city has committed resources to implement this program through American Rescue Plan Act federal funds to create this two-year pilot program at the Gauge Apartments, 1275 Escalante Drive in Durango.
“We’re excited to create an innovative program that will bridge the gap between market-rate costs and more affordable monthly rents for the local workforce,” said Eva Henson, manager of the city’s housing innovation division. “By working with the developer and our non-profit partner, we are able to secure 30 new multi-family units for the community with stabilized rents.”
The 30 units provided by this program are allocated according to household income levels:
LEVEL 1 – LEASING FOR LOCALS RENTAL UNITS
- Level 1: 15 units will have monthly rents set at 60% Area Median Income (AMI), but the household can earn at or below 80% Area Median Income for La Plata County based on the Colorado Housing and Finance Authority Max Rent Table. Household worker(s) may individually earn more or less than the Area Median Income but cannot exceed the total household income below per household size.
- The unit types available vary from one, two and three-bedrooms.
La Plata County Area Median Income by Annual Salary or Hourly Wage by Household Size
(source: Colorado Housing and Finance Authority)
|
Household Size
|
AMI%
| 1 Person
| 2 Person
| 3 Person
| 4 Person
| 5 Person
| 6 Person
|
50%
| 36,400
| 41,600
| 46,800
| 51,950
| 56,150
| 60,300
|
$17.50/hr.
| $20/hr.
| $22.50/hr.
| $24.98/hr.
| $27/hr.
| $29.00/hr.
|
60%
| 43,600
| 49,920
| 56,160
| 62,340
| 67,380
| 72,360
|
$20.96/hr.
| $24.00/hr.
| $27.00/hr.
| $29.97/hr.
| $32.39/hr.
| $34.79/hr.
|
70%
| 50,960
| 58,240
| 65,520
| 72,730
| 78,610
| 84,420
|
$24.50/hr.
| $28/hr.
| $31.50/hr.
| $34.97/hr.
| $37.79/hr.
| $40.59/hr.
|
80%
| 58,240
| 66,560
| 74,880
| 83,120
| 89,840
| 96,480
|
$28/hr.
| $32/hr.
| $36/hr.
| $39.96/hr.
| $43.19/hr.
| $46.38/hr.
|
Level 1 Rental Rates:
1-bedroom (3 units available)
| $994 plus utilities
|
2-bedroom (9 units available)
| $1,199 plus utilities
|
3-bedroom (3 units available)
| $1,388 plus utilities
|
LEVEL 2 – LEASING FOR LOCALS RENTAL UNITS
- Level 2: 15 units will have monthly rents set at 80% Area Median Income (AMI), but the household can earn at or below 100% Area Median Income for La Plata County. Household worker(s) may individually earn more or less for the Area Median Income but cannot exceed the total household income below per household size.
- The unit types available vary from one, two and three-bedrooms.
La Plata County Area Median Income by Annual Salary by Household Size
(source: Colorado Housing and Finance Authority)
|
AMI%
| Household Size
|
1 Person
| 2 Person
| 3 Person
| 4 Person
| 5 Person
| 6 Person
|
100%
| 72,800
| 83,200
| 93,600
| 103,900
| 112,300
| 120,600
|
Level 2 Rental Rates:
1-bedroom (3 units)
| $1,384 plus utilities
|
2-bedroom (9 units)
| $1,667 plus utilities
|
3-bedroom (3 units)
| $1,929 plus utilities
|
All prospective tenants may apply for these units online and include the following documentation:
- Completed online application.
- Employment verification form (employee section only).
- Copy of driver’s license or other government-issued photo I.D.
- Copy of three consecutive paystubs
- Applicants must work 32 hours a week
- the unit must be the primary documentation
Three consecutive paystubs (from all jobs part-time and seasonal). Applicants must work on average 32 hours per week for a business or organization in La Plata County. This unit must be also the primary residence.
All applications will be reviewed and approved by Housing Solutions for the Southwest in the order they are received. Anticipated move-in dates for approved tenants will be begin on Nov. 1 and all applicants will need to meet both a minimum monthly household income of two times (2x) the monthly rent and cannot exceed a maximum gross annual income limit for their household size.
Please visit the Housing webpage Housing Innovation Division, ADUs, and Vacation Rentals | Durango, CO - Official Website (durangogov.org) to learn more about this program, eligibility and to access the online application form. For questions please contact Tammy Chambers - tchambers@swhousingsolutions.com at Housing Solutions for the Southwest at (970) 764-4032
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_____________________________________________________________________________
Media Contact
Eva Henson
Phone: (970) 375-4857
Email: eva.henson@durangogov.org
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