Longmont Housing Authority approves Briarwood sale agreement with All Roads
The authority’s commissioners approved an agreement for the commercial space. Staff put the proposed price at $1.5 million and estimated about $1 million would remain for the general fund after the mortgage payoff.
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The Longmont Housing Authority’s commissioners approved a purchase-and-sale agreement with All Roads for commercial space at Briarwood Apartments. Staff put the proposed sale price at $1.5 million and targeted a Dec. 31 closing.
The commissioners approved Resolution LHA 2026-19 as amended. In a separate board discussion, staff described the $1.5 million proposal, said it was below appraisal and estimated about $1 million would remain for the authority’s general fund after the mortgage payoff.
All Roads plans to retain existing tenants, who could stay as long as they choose, and bring in referrals from the Boulder Shelter, commissioners discussed. Staff said a requirement tied to HOME Investment Partnerships Program American Rescue Plan (HOME-ARP) funding would direct at least eight of 10 future tenancies to people exiting homelessness. Staff said the arrangement depends on the anticipated funding and services coming through.
Staff tied the year-end schedule in part to a $300,000 Boulder County grant that must be spent by Dec. 31. They also said a three-party HOME funding agreement involving Boulder County, Longmont and All Roads was expected to go before the Longmont City Council on Dec. 1. The authority’s approval is not a completed transfer; staff targeted closing by Dec. 31.