Since the Affordable Housing Plan and ordinance were adopted by the Clovis City Commission on May 5, there has been much discussion about the plan and what it will do for our community.
Clovis’ Affordable Housing Plan is targeted toward residents earning up to 100 percent of Area Median Income ($46,300) and essential workforce who earn up to 120 percent of Area Median Income ($55,550).
There are many housing needs in Clovis and this is one tool that can be used to alleviate our housing shortage. The plan’s goals and objectives outline how the city can work within certain parameters with developers to encourage developers to bring affordable housing to fruition.
The Clovis City Commission had worked diligently with the Local Growth Management Committee and Cannon Air Force Base to make sure their needs were identified through the 2009 Regional Growth Management Plan. The challenge that kept coming to the top was housing, particularly affordable housing, and since that time the city has been seeking ways to assist with this.
The Affordable Housing Plan is a tool to help address these housing needs and I would like to thank base commander Col. Stephen Clark for his recent letter of support for the plan.
In today’s lending environment it is increasingly hard for investors and developers to get financing for large developments.
Hotel Clovis is one such project that we can allow the developer to apply for and receive grants to help with the renovation of this beautiful art deco building that was constructed in 1931 during the Great Depression. We have a developer who has stepped forward to bring our historic hotel back to life. This redevelopment is not considered HUD housing, it is affordable housing and the 59 loft apartments may be rented by our many hardworking citizens.
Like the other affordable housing development in Clovis constructed by the developer (Tierra Realty), which utilized Mortgage Finance Authority tax credits, the Hotel Clovis will be on the Curry County property tax rolls and its development is subject to New Mexico gross receipts tax. Stephen Crozier’s company comes highly recommended from the New Mexico Mortgage Finance Authority, and he brings not only years of experience and knowledge in development but a passion for our historic hotel.
The hotel area redevelopment is a win for everyone in that it provides not only affordable housing but a beautiful addition in the revitalization process of our Main Street historic downtown area. It also takes the building out of being owned by the city and to being privately owned and property taxes paid. This redevelopment includes retail and restaurant space, park area, farmers market and day care which will assist in economic development through job creation. But more importantly, the lights will be back on in our city’s most famous historic building.
I believe it is time that we all worked together as citizens of Clovis to move forward with all the exciting opportunities that lie before our growing community, and become one voice — the voice for the betterment of Clovis, New Mexico.