Wednesday, December 26, 2012

Grant for housing project rejected

Developers appeal state funding decision


By BRENNAN REGO
Express Staff Writer

Courtesy graphic This rendering shows early plans for the Washington Place Residences project in central Ketchum.

An application for about $600,000 in federal grants to build an affordable housing project proposed for downtown Ketchum was rejected during the Idaho Housing and Finance Association’s latest round of funding decisions in late November. However, supporters of the project say they’ll appeal the decision and are confident the development will be built.

“The developer has asked for a re-evaluation and an appeal, which are in progress now,” said Jason Lantz, a spokesman for the Housing and Finance Association, which administers the federal funds.

A decision on the appeal is expected in early January.

The project, named Washington Place, is proposed for a quarter-acre property at First Street and Washington Avenue owned by the Ketchum Urban Renewal Agency. It has been spearheaded by the nonprofit Ketchum Community Development Corp. in partnership with a private developer. According to the CDC’s website, the project would be a 23-unit, energy-efficient building that would “increase the vibrancy of Ketchum” by putting more people in the city’s streets, stores and restaurants.

The URA would lease the property to the CDC at a low cost. However, to build the project, the CDC would need to secure just over $600,000 of tax credit financing for which it applied in September. 

“The Ketchum CDC is currently evaluating all of our options for moving forward and should have more clarity in the weeks to come,” said organization Executive Director John Duval on Dec. 10. “We continue to believe very strongly that Washington Place is an important development for Ketchum. We will do whatever we can to make it a reality.”

Ketchum Mayor Randy Hall, also a URA commissioner, said completion of the project has been a high priority for the city since the URA bought the property in 2007.

“I believe that when the approval process is completed, Washington Place will be a success and we’ll have taken another step to building a stronger community,” Hall said.

Hall said that if the appeal does not sway the association director’s mind, the project’s partners will apply again for financing during the association’s next application round in February.

“This process is not over,” he said. “If the appeal goes well, hopefully, we can walk away with still a winning application.”

Brennan Rego: brego@mtexpress.com




About Comments

Comments with content that seeks to incite or inflame may be removed.

Comments that are in ALL CAPS may be removed.

Comments that are off-topic or that include profanity or personal attacks, libelous or other inappropriate material may be removed from the site. Entries that are unsigned or contain signatures by someone other than the actual author may be removed. We will take steps to block users who violate any of our posting standards, terms of use or any other policies governing this site. Use of this system denotes full acceptance of these conditions. Please review the full rules governing commentaries and discussions. You are fully responsible for the content that you post.

The comments below are from the readers of mtexpress.com and in no way represent the views of Express Publishing, Inc.

You may flag individual comments. You may also report an inappropriate or offensive comment by clicking here.

Flagging Comments: Flagging a comment tells a site administrator that a comment is inappropriate. You can find the flag option by pointing the mouse over the comment and clicking the 'Flag' link.

Flagging a comment is only counted once per person, and you won't need to do it multiple times.

Proper Flagging Guidelines: Every site has a different commenting policy - be sure to review the policy for this site before flagging comments. In general these types of comments should be flagged:

  • Spam
  • Ones violating this site's commenting policy
  • Clearly unrelated
  • Personal attacks on others
Comments should not be flagged for:
  • Disagreeing with the content
  • Being in a dispute with the commenter

Popular Comment Threads



-->
 Local Weather 
Search archives:


Copyright © 2014 Express Publishing Inc.   Terms of Use   Privacy Policy
All Rights reserved. Reproduction in whole or in part in any form or medium without express written permission of Express Publishing Inc. is prohibited. 

The Idaho Mountain Express is distributed free to residents and guests throughout the Sun Valley, Idaho resort area community. Subscribers to the Idaho Mountain Express will read these stories and others in this week's issue.