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<br />APPLICANT: City of Montrose (Town of Ridgway) <br /> <br />APPLICATION NO: 85-604 <br /> <br />OVERALL STAFF RATING <br />Low <br />Medi um-~li nus <br />-X Medium <br />Medium-Pl us <br />High <br /> <br />PROJECT TITLE: Ridgmont Housing Rehabilitation Project <br /> <br />. AMOUNT REQUESTED: $430,125, <br />PROJECT TYPE: X SP <br />PROJECT DESCRIPTION: <br /> <br />MP <br /> <br />X MJ <br /> <br />. (A) Using the established, successful and competent CDBG Administrative and field <br />staff, currently employed by the City of Montrose, we would (B) rehabilitate 10 <br />owner-occupied homes in Ridgway, Colorado and (C) 16 owner-occupied homes in <br />Montrose, Colorado, (0) all units will be owned and occupied by low-and <br />moderate-income citizens-rE) all funds will be contracted as 5-year deferred loans <br />for rehabilitation. <br /> <br /> PROPOSED PROJECT ACTIVITIES AND BUDGET <br /> IBrd. COBGI 1 Project Funding <br /> Proj ect INat. $L/MI Project 1 State I Other <br /> Activities Obj. % I Costs I CDBG 1 Amount I Source I Status <br /> I I I I 1 <br />Housing Rehab L/M 100%1$ 350,0001$ 350,0001 I I <br />(26 owner units) I I I I 1 <br /> I I I I 1 <br />Administration 1 131,1001 80,1251$ 36,3751City's 1986 1 Request <br /> 1 / I Igen. fund I <br /> I 1 I 14,6001 in-kind ICoRlllitted <br /> I I I I I <br /> I I I I 1 <br /> 1 I I I I <br /> I I I I I <br /> I I 1 I I <br /> I I I I I <br />. I I 1 I I <br /> Totals 1$ 481,1001$ 430,1251$ 50,9751 <br />BACKGROUND INFORMATION: Montrose Ridgway <br />a. 19l:lU Populat10n: 8,Ia ;;69 <br />b. # L/M Persons: 3,288 175 <br />c. % L/M Persons: 39% 48.34% <br />d. Current Co. Unempl. %: 10.2% (Montrose Co.) 25% (Ouray Co.) <br />e. 3 Year Co. Unempl. %: 11.3% (Montrose Co.) 20.9% (Ouray Co.) <br />f. Assessed Valuation: $40,931,905 $1,183,730 <br />g. Mill Levy/Overlapping: 3.5 mil/84.573-103.843 26.192/2.00 <br />h. Bonded Indebtedness: $4,797,043 $510,192 <br />i. Sales Tax %/Revenue: 2%/$1,826,294 3%/$35,000 <br /> <br />************************************************************************************** <br />,PROJECT REVIEW FACTORS <br /> <br />1. PROJECT IMPACT <br /> <br />L I M I H I <br />1 X I I <br /> <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />Montrose: 67 units were ident. in the older neighborhood of I <br />Montrose to be in need of substan. rehab. Proposed project I <br />would address 24% of need. I <br />Ridgway: 45 units were ident. in Town to be in need of sub- J <br />stan rehab. Project would address 21% of need. Approx. halfl <br />of Ridgway's population is low/moderate income. I <br />It is questionable that proposed project can be implemented I <br />in a timely manner and completed in a resonable period of I <br />time given status of 1984 COBG program. I <br />Montrose: Proposed proj. 1S part of I-year strategy/plan fori <br />meeting hsg. rehab needs in Montrose's older neighborhoods. I <br />Ridgway: Town is in the process of developing zoning ordi- I <br />nance and building codes. Proposed proj. is part of town's I <br />attempt for orderly growth & for the preservation of existingl <br />hsg stock. Proposed proj. is consistent with Com. Dev. Plan./ <br />I <br /> <br />a. Low/Mod Income <br />Benefit <br /> <br />L/M income benefit for Montrose and Ridgway is 100%. 86 L/M <br />income persons will directly benefit from program activity. <br />Units selected will be prioritized by income, age, condition <br />of unit and number of beneficiaries. <br /> <br />. <br /> <br />b. Need and Extent <br />Addressed <br /> <br />c. Consistency/ <br />Coordination <br />