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NEW CITY COUNCIL MEMBERS READY TO RECONSIDER AFFORDABLE HOUSING
The election of four new City Council members that are in favor of affordable housing development have resurrected and affordable rental project that was not supported by the previous council. In June, Peak Properties proposed annexing building townhome type rental units on a five-acre parcel in unincorporated Boulder County located on South Boulder Road west of Centaur Village West Neighborhood. Lafayette¡¦s Council was asked to waive most development costs to help make the homes available to households earning no more than 30% to 40% of the area median income. Peak also has potential federal tax credits, worth almost half of the project¡¦s cost, or $5.5 million, at risk if final approval is not achieved by May 2006. Observers suggest that last time around Peak¡¦s request for fee waivers politicized the project. The Lafayette Planning Commission gave the project approval to proceed to annexation application on November 30. City Council will review the proposed development in December, sans the fee waiver request.
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