STATUS 

• Despite the slow winter season for housing, Eagle County Housing saw an increase in services for homeless response and aid for the Adu program. The locals housing season will begin in April, May, and June where the programs will pick back up. As of now, over 200 people, families, and units have been served through the Bold housing moves since the end of 2021. As a result, Eagle County Housing is on track with over 246 units. Overall YTD 2023, the real estate market continued to slow with low inventory, and rising interest rates creating lower affordability.

MEASURE
Program interest through number of applications received

• Q2 2023: 119 new applications received

• Q1 2023: 112 new applications received

• Q1 2022-Q3 2022: 151, 138, and 125 applications received respectively

• Q2 brought an uptick in homeless service program needs, rental assistance as people move into new year round leases, and a re-launch of Lease to Locals, a long term rental incentive program, on June 1st. 69 homeowners inquired about the program, and 9 signed up in the first 30 days.

• New programs launched in Q2: Locals First, Aid For ADUs program, ADU Loan program, and Rent Local Program

• Down payment assistance programs slowed in Q3 due to rising interest rates, but Aid For ADUs Loan program remained popular

• Housing services provided: 32 for homeless response, 11 for rental assistance, 9 for down payment assistance, 8 for Eagle County Good Deeds, and 2 for a new unit purchase in Q2

• Q4: served 23 clients from communities of color, Homeless response program fully staffed with street outreach workers, and 8 closings

• Fall/winter slowdown impacted Rental Funds, down payment assistance programs, and available homes for sale

• Most programs up and running as expected, with Rent Local Program being the exception.

MEASURE
Applications percent approved

• Approx 70% of applications were approved in Q2 2023, a step up from 16% of applications approved in Q1 2023

• A new employee housing unit was purchased for ECO Transit employees by the Eagle County Housing Development Authority

• The first loan was paid off in full with the Rental Funds rental assistance program, and $10,500 was repaid to the fund

• The Eagle County Loan Fund is expanding by providing a matching opportunity for employers.

MEASURE
Applications completed

• With 43 applications completed in Q2 2023, this was also a marked increase from the 17 Applications completed in Q1 of 2023

• In Q3 2022, the Valley Home Store served an additional 43 clients who are communities of color, with the Master Buyer list growing to over 800 clients and 10 closings. This was an improvement over the previous quarter, where the Valley Home Store served 67 clients for communities of color, with 165 home buyers and sellers of deed-restricted homes and 5 closings in Q2 of 2022.