Destination Granby has evolved to become the driving force for revitalization in Granby. Our mission is to promote, engage community, support business, and enhance places to gather as a community. Without a stable year-round workforce, we will not be able to achieve such goals. A thriving community depends on happy and consistent employees who can afford to rent and eventually purchase and own homes in the places they live and work in.
Housing instability has been a problem in Grand County for decades but now due to several forces, primarily the COVID pandemic, the problem has been exacerbated. Between 2018 and 2021 the median sales price in Granby has skyrocketed from approximately 270K to 680K, 154 %.
This is similar in other areas of the County. Meanwhile median wages in the county have only risen by 16% This obviously creates a situation where workers cannot afford to stay in Grand County. Workers leave and this is costly to businesses. The housing needs assessment done by WSW Consulting for the Fraser River Valley Housing Partnership estimated that 170 employees left their jobs due to lack of housing last year. The cost to recruit, train, and replace these employees costs local businesses 1.4 million dollars per year.
The Fraser River Valley Housing Partnership is an intergovernmental agency made up of local citizens appointed by the towns and the County. This Board is asking for a 2mill property tax to raise 1 million per year. This is about $70.00 per year on a 500,000 of valuation. The Fraser River Valley has a very low percentage of year-round occupied homes. It is only 37 %. This means much of the property tax raised will be paid by second homeowners and commercial businesses, who will directly benefit from this affordable housing measure.
The partnership is modeled on the Yampa Valley Housing partnership which has successfully put affordable housing developments on the ground each year by raising approximately 1 million in property tax per year. The Fraser River Valley needs a housing authority that can complement the work underway in Grand County and in the towns. There are restrictions on the type of funds that can be used for this important work. After significant research into other communities, a small increase in property taxes for residential and commercial property owners is the best way to generate stable funds for this work.
Please join us in supporting 6A. It will take all of us working together to reduce housing stress and provide our community members a better quality of life. This is a good thing for all of us!
For more information go to www.FRVHP.com of www.housingforlocals.com
The Board of Directors