Tuesday, Mar 15 2011 8:53AM
A new housing complex under construction in Colorado will provide affordable homes for agricultural workers.
The Community Resources and Housing Development Corporation is constructing an affordable housing complex for agricultural workers in the rural North Delta, reported the Delta County Independent.
Known as the Alta Viste de la Montana, the complex will include 41 three and four bedroom apartments for rent, a community center, a laundry facility and a playground. The newspaper said the project, which has been in development for four years, will cost about $7.9 million to build.
The project is being funded by the Community Resources and Housing Development Corporation, U.S. Department of Agriculture Rural Development, Colorado Housing and Finance Authority, Rural Community Assistance Corporation (RCAC) and WNC Investments, reported the paper.
"RCAC is pleased to support CRHDC’s development of this critically needed housing for farm workers. It will be a great asset to the community," said RCAC Loan Fund Director Michael Carroll.
To qualify for
housing assistance, one-third of the applicant's income must come from agricultural work. Rent will be calculated by gross adjusted annual income, and tenants will only be required to pay 30 percent of their income, according to the source.
In a company newsletter, the paper said CRHDC associate director Judi Patrick emphasized that the affordable rent will help workers save money and add to the local economy.
"It will mean a great boom in local business and additional revenue made through sales tax," she said.
Other states have made similar efforts to provide affordable housing options for agricultural workers. Washington State's Franklin County recently opened a housing complex for local seasonally employed migrant workers, reported the Tri-City Herald.
RCAC’s Loan Fund offers low-interest loans to fill financing gaps and serve those traditionally neglected by conventional markets. RCAC is a certified Community Development Financial Institution (CDFI) with a CARS™ rating of AA+2. RCAC provided a $1.8 million construction loan for the Alta Viste de la Montana project.