Moab Happenings Archive
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Southeast Utah
Real Estate Happenings

October 2018

Housing Authority of Southeastern Utah
Serving Grand and San Juan County
Biannual Report for September 18th, 2018


2018/19 Financials/Budget:

Housing Authority of Southeastern Utah (HASU) received its 2017 FY audit in March of this year. There were no significant findings in the audit. After the close of the 2018 FY at the end of June we have been working on that years audit and expect it to be completed by the end of the calendar year. HASU is currently working under its ninth Mutual Self Help 523 grant which runs until August of 2019. We anticipate starting our 10th Mutual Self Help grant in mid-summer 2019. Mutual Self Help, and increasingly, development fees from tax credit and other development funding, are the primary revenue sources for HASU.

Section 8/Housing Choice Voucher:
Currently 46 vouchers are issued for the Section 8 program. The waiting list for the Voucher program is open and taking applications. The wait for a Voucher is around one year.

Crown (rent to own):
All Crown homes in Blanding, Monticello and Moab are occupied. These are historically always full as they offer rents for three and four bedrooms of $600-$750/month. Crown now has 4 projects with a total of 21 homes; 13 in Moab, four in Blanding, four in Monticello. The compliance period ends for eight homes in Moab at the end of 2018. HASU also realizes a significant payoff built into the CROWN loans at the end of the 15 year compliance period which is restricted to further affordable housing development.

Cinema Court:
As of the now the complex is 100% occupied. Waiting list for all units are as follows; 27 on the one-bedroom, 26 on the two-bedroom and 20 on the three-bedroom. The project continues to be well managed with a low vacancy rate and a strong balance sheet.

The Virginian Apartments:
The Virginian Apartments have had a welcome calm in the last few months with stable residency and low maintenance. Waiting list for one- bedroom units is six months long and roughly four months for the two- bedroom units.

Mutual Self-Help Program:
HASU continues to build in the Valley View subdivision on Bonita Street off of Mill Creek Drive. To date we have completed 20 homes with eight more homes under construction. We anticipate finishing this build, and the subdivision, by the end of the year. We are set to close on five homes in Blanding as a part of last phase of building under our latest Grant Nine. In the meanwhile we will be searching to do two rehab builds between now and August of 2019. Work will begin on submitting our 10th Mutual Self Help grant this winter. We anticipate our next build in Grand County to be in the Wingate Village subdivision in Spanish Valley with 11 homes.


 

MAPS Senior Living:
After the award of tax credits in December of 2017, changes in the tax law severely diminished the price for the tax credits which caused the project to be underfunded. The spring and summer has been spent going through another round of financing to the point where we believe we are ready to fully start the project. We hope to close on financing and start construction in the spring of 2019. The project is 36 units of one and two bedroom senior apartments north of the Moab Regional Hospital.

Wingate Village
We are continuing our planning and development of a 33-unit subdivision located behind the KOA in Spanish Valley. We are anticipating a mix of affordable rental town homes (approx. 22 units) and 11 detached single family homes for Mutual Self Help. We are in the final days before submission of the tax credit application for Wingate Village’s 22 rental townhome units. We anticipate rents from $400-$1100/month for three and four bedroom units that will range from 1200-1450 square feet. There will be two fully accessible ADA units and set aside units for homeless families, veterans and victims of domestic violence. As always this is a very competitive application process with no guarantee to get funded. There has been a tremendous amount of work and coordination, especially from the GCSD, the County development office and service providers from Grand County. After the tax credit submission deadline of October we will bring our focus again to the engineering work needed to be done to submit the preliminary plat by the end of the year. If we are not awarded credits (announced in December) we intend to build some deed restricted MSH units along with more CROWN rent-to-own homes.

Deed Restriction Administration
(Assured Housing and HDH):
HASU is still willing to lend its assistance with any administration of the proposed Assured Housing ordinance and High Density Housing overlay. We expect our role, if it is desired, to be a contracted agent who will qualify and monitor deed restrictions put into place under the above proposals. One of the primary roles at HASU is to qualify eligibility for various affordable housing programs and we are actively creating, putting into place and monitoring deed restrictions for our various programs.

The mission of the Housing Authority of Southeastern Utah is to “Develop, manage and promote safe; high-quality; & energy efficient housing opportunities for low; very low; and moderate income individuals and families to enhance lives & communities in Southeastern Utah.”

www.hasuhomes.org

 


Grand County Community & Economic Development
by J.D. McClanahan
Update for October 2018

Many noteworthy initiatives are in the pipeline for the city and county governments in the next month, which will be particularly relevant to the local real estate market.

Moab and Grand County are pursuing similar assured housing policies, which would levy a fee on any overnight accommodation developments (hotels, as well as residences or condos developed for short-term rental), with the fees contributing to affordable housing funds within the two governments. Both governments adopted resolutions, on May 22nd in Moab City and June 7th in Grand County, which gave the bodies 180 days in which to adopt a policy, with any development proposals that came in those six months retroactively subject to the assured housing stipulations. This means that the City of Moab has until November 22nd, and Grand County until December 9th, to pass an assured housing policy and insure that applicants from the previous 6 months must comply. As the city and county councils will ultimately decide whether to pass the policies, the planning staff and commissions will be working on drafting and holding hearings in the time leading up to the deadline. We urge the public to reach out in this time in order to have the best possible policy when the six months come up.

On September 25th, the Grand County Planning Commission held a public hearing on their High Density Housing Overlay proposal. This policy allows for denser than currently zoned residential development in select portions of Spanish Valley, provided that 80% of the units of a given development are deed restricted for primary residents of Grand County who are actively employed in the area (with provisions for retired members of the Grand County workforce and the disabled).

 

Following the public hearing, the final version of the policy will be voted on by the planning commission, with their recommendation passed on to the Grand County Council for their vote, with the process coming to its conclusion in October or November, depending on meeting scheduling.

The City of Moab Planning Commission is currently working on a Planned Affordable Development policy, which would also allow for denser development within Moab City limits if 80% of the units on a development are priced at affordable rates based on the Area Median Income (AMI) and restricted to households below the AMI with a full time employee (again, with provisions for retirement and disability). The City Planning Commission’s public hearing for this policy will be held in late October.

These policies seek to address Moab & Grand County’s housing issues from multiple angles, both allowing the development and real estate communities greater freedom to create their own solutions, and seeking to address the externalities affecting the community from current development patterns.

Local governments recognize the important role that the real estate community plays in providing the housing needs of our community, and welcome both your positive feedback and constructive criticism as we seek to create and garner support for the best possible policies for our community.

For more information or to keep up to date as firm dates are established for these initiatives, reach out to the government offices or subscribe to their public notices at utah.gov/pmn

The Grand County Community and Economic
Development Department is your go-to resource for:

  • Business Development and Expansion
  • State Funding Opportunities
  • Employee Training and Workforce Development
  • Land Use Development

 

125 E. Center St.
Moab, UT 84532
435-259-1371
grandcountyutah.net
Information on the policy is available from the Community and Economic Development webpage at HighDensityOverlays or from department staff at 125 E. Center Street.
 
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