In the Region

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In the Region

PERMITS UP; FORECLOSURES CLIMBING; HOME PRICES SET RECORDS
January and February building permit activity in the metro area leaped 35 percent ahead of the same period in 2004 with more than 3180 permits issued in the seven county region. Some economists argue that housing is already oversupplied and the new construction could depress values and/or driving the foreclosure rate upward. As evidence, the regional foreclosure rate for the first quarter of 2005 is 34 percent ahead of the fourth quarter of 2004. In April 2005 the average single-family resale home price in the metro region exceeded $300,000 for the first time, posting a $307,308 average sales price. The median also set a record at more than $245,000. Although the increases reflect some gains in appreciation, much of it is attributable to increased sales of more expensive homes.

FREDERICK HOME RULE EFFORT STALLS
Frederick’s efforts to craft a Home Rule Charter has floundered several times since late last year, prompting Town Trustees to vote against continued funding for the Charter Commission and the process, leaving the Charter’s future uncertain. State law requires the commission to re-write the Charter proposal and give voters another chance to approve or reject it. The 11-member Commission began crafting the proposed Charter after voters approved the process and elected the Commission in September 2004. In March 2005 voters said no to the Charter. Lacking money for essential legal services the Charter Commission is effectively shut down.

AREA LEADERS SEEK WELD COUNTY COOPERATION ON GROWTH
Concern over Weld County Commissioners’ plans to accommodate over 240,000 future residents in unincorporated portions of a 75 square mile area in southwest Weld County prompted the Boulder County Commissioners and the Longmont City Council to ask for a development time out. In separate meetings, the two bodies got no satisfaction. The Weld County Commissioners have rejected even considering a slow down to their planning and development and expressed disappointment that they are not given credit for standing up for property owners’ rights and for requiring and approving quality developments. Boulder’s Commissioners and Longmont’s Council Members have strongly expressed their concerns over jobs and housing imbalances, human service availability, and the significant transportation costs associated with the intensive development planned in Weld County. The so-called Super MUD (Metropolitan Urban District) will include the I-25 Mixed Use Development area from Weld county Road 42 south to Colo. 52 and from WCR1 to WCR 15. Metropolitan Districts have the power to issue bonds to finance infrastructure improvements to support development projects. The Weld Commissioners are scheduled to select a planning consultant in May 2005. Nearby affected communities, including Longmont and Boulder County are expected to participate in the discussions and planning meetings regarding the Super MUD. Boulder County transportation staff have already begun discussions with Weld County staff.