A new strategic plan looks to address the growing issue of housing affordability in Greeley with a focus on incentives for developers.
On Tuesday, the city staff proposed a five-year plan that would look to facilitate a variety of mixed-income developments throughout the city, such as entry-level homes, and connect them to economic growth. This would include incentivizing entry-level homes with price caps.
Presenting the plan, Housing Director Deb Callies explained many of the city’s households are considered cost-burdened, spending more than 30% of their income on housing costs.
With the population expected to double within the coming years, the city council has tried to tackle affordable housing concerns for some time.
“I’m ecstatic that we’re finally getting to this. This has been a long time coming,” Councilman Tommy Butler said. “I think there is nothing more important to economic development than building affordable housing. If people can’t afford their rent, they are not going out to eat or go out. So we’re not going to get the restaurants we want and we’re not going to get the retail that we want.”
A large portion of the plan revolves around creating incentives for developers that will result in the intentional inclusion of housing units for all income levels. Some of these proposed incentives include faster development review, local fund investments and low-interest loans.
Under this plan, the city will look to finance housing developments through several methods, including sales tax, impact fees and private activity bonds, which the council also approved on Tuesday, receiving more than $7.3 million to use for affordable housing.
With the council’s approval of this plan, Callies said that city staff will review other methods of financing as well before deciding how best to proceed.
Some residents spoke against the plan, worrying costs would still be out of their price range because they make less than the average median income upon which housing affordability is measured. Others said they would rather see the money that would go to incentives to develop housing be utilized elsewhere.
Butler shared their concerns regarding the cost of housing but said that the strategic plan was just the first step. He said the average rent in Greeley is about $1,700 per month.
“That is unacceptable,” he added. “This city has failed on affordable housing for too long.”
With the council’s unanimous approval, city staff will begin working on ways to implement the new plan. The city expects to start implementing the plan in 2026.
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