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Boulder

CITY AND BARA TEAM UP TO PROMOTE AFFORDABLE HOME SALES

The city of Boulder's Department of Housing and Human Services' Division of Housing and the Boulder Area REALTOR Association (BARA) have collaborated on a plan to enhance the city’s current affordable housing program. The agreement will be unveiled Friday, October 12, 2007 by BARA President Veronica Precella and City Manager Frank Bruno.

The city and BARA are currently in the process of implementing the new program, expected to go into effect shortly after the first REALTOR training workshop to be held on Oct. 26. Under the new program guidelines, a group of volunteer REALTORS from the BARA will provide their professional services at a below-market, fixed commission rate, donating much of their time and services as a contribution to the community. These REALTORS will complete special training insuring that they will be proficient in all City of Boulder Affordable Housing programs and program requirements, adding to their extensive real estate experience and expertise in the Boulder market. Information on volunteer REALTORS will be made available to affordable home sellers and buyers starting in November on BARA and the city's websites. Participating affordable home buyers and sellers will access professional representation and real estate services to achieve their homeownership goals.

Through its lower sales commissions, this agreement helps the city allow permanently affordable properties to appreciate at a minimum of one percent, and up to three and one-half percent, per year, depending on market conditions and/or changes in area median incomes and inflation, as determined by the city at the time of sale. These and other program improvements resulted from the city's comprehensive review of the affordable homeownership program's performance in the past seven years. Most importantly, the REALTOR subsidized fixed sales commissions aid in maintaining affordable pricing, insuring that the program will continue to provide quality affordable housing for future generations.

CITY NOW ENFORCING REVISED S.B. CREEK FLOODPLAIN MAPPING

The Boulder City Council approved revised floodplain mapping for South Boulder Creek on April 17, 2007. City officials are now enforcing land use and building code requirements based on the revised mapping. The revised mapping increases the number of affected structures three fold, from a total of 363 to 1137. Of that number, 734 are primary residences. If you are involved in transactions with the affected properties you will want to disclose both the current and proposed FEMA floodplain status of the subject property.

You can determine and verify if a property is in the revised South Boulder Creek floodplain by following these steps.

Go to www.southbouldercreek.com , click on the ArcIMS icon to access the interactive proposed floodplain mapping. Then open the structure and access table. You'll be able to zoom in to any subject property and determine whether the floodplain affects the property. Hard copy maps are available for review in the Public Works Department, Flood Management Office in the Park Central Building located on the northwest corner of Broadway and Arapahoe. To verify the current and proposed status of a property, go to the City Website at www.ci.boulder.co.us, go to Departments then to Planning and Development Services. Locate the "Skip A Trip Faxable Forms" icon, then open the 'Floodplain Information Request Form' and follow the instructions. City staff will review the property and verify its current and proposed status. Be certain to request BOTH the current and proposed status. The Federal Emergency Management Agency (FEMA) will formally adopt the proposed South Boulder Creek floodplain mapping in about a year. If you have questions or need assistance contact the City Flood Management Cooridinator, Christina Martinez at 303.441.1886 or via email at martinezc@bouldercolorado.gov.

TRANSIT VILAGE AREA PLAN APPROVED

The Boulder City Council approved the Transit village Area Plan on September 18, 2007. The plan envisions adding between 2800 and 4000 new jobs and between 1400 and 2400 new housing units in a 160-acre area of central Boulder generally surrounding the 11-acre future Transit Village on the northeast corner of 30th and Pearl. The Transit Village property is owned by the city's Housing Division (7.97-acres) and RTD (3.33-acres) and is expected to be host of the Historic Depot, a bus transfer facility, a small park and ride, and hundreds of affordable housing units. The surrounding areas will be rezoned to encourage a mix of housing, retail, and commercial uses that would likely develop over the next three decades. The planning, rezoning and redevelopment scheme is in response to RTD's FasTracks plan that will include commuter rail and bus rapid transit to the area, servicing the U.S. 36 corridor. Expect the Plan to evolve during the decades-long implementation in response to community involvement and market forces.