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2024 Impact Report�6E Workforce Housing and Childcare Lodging Tax �

This Photo by Unknown Author is licensed under CC BY-NC

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Timeline

Annual Impact Report

Strategic Planning Process Begins

Stakeholder Outreach for Annual Funding Plan

LMD, Larimer County, Town of Estes Review Plan

Final Approval of the Annual 6E Funding Plan

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2024 Financial Review

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6E Revenue

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6E Revenue

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Childcare Initiatives

Tuition Assistance

Increase funding for tuition assistance
Evaluate the efficiency of tuition assistance programs
Increase eligibility of assistance to include middle-income working families�

Childcare Workforce

Provide subsidy programs to fund a livable wage for EC and childcare employees�

Out-of-School Programs

Grant funds for existing programs that support the operation and expansion of capacity �

Facility Expansion

Fund additional childcare capacity through capital projects�

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Childcare and housing priorities were originally outlined in the ballot framework for 6E in 2022. Stakeholders identified addressing childcare workforce challenges, supporting tuition assistance programs, funding the expansion of out-of-school programming, and funds for facility and capital projects to support increased childcare capacity.

The 2024 6E Funding Plan demonstrated how 6E funds would impact these priorities with the following objectives:

- Tuition Assistance: Support the affordability of childcare for families by increasing the funding support and evaluating the efficiency of Tuition Assistance programs, as well as increasing the eligibility of assistance for middle-income working families.

Childcare Workforce: Stabilizing the workforce by providing subsidies and support programs that allow for early childhood and childcare professionals to be paid closer to what is considered a livable wage.

Out-of-School programming: Provide grant funding for the operation and expansion of capacity in after school programs and care when school is out. Long-term planning and collaboration with existing local organizations to strategically address the diverse needs of the community.

Facility expansion: The expansion and development of additional childcare facilities to ensure adequate space and resources to meet the current and future demand for quality early childhood care.

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$188,260 ��Served 58 children��Additional CCAP-eligible households��Grant recipient to support the expansion of assistance to middle-income eligible households

How did we do this?

Priority Objective: Affordability of childcare for families by increasing the funding support and evaluating the efficiency of Tuition Assistance programs, as well as increasing the eligibility of assistance for middle-income working families.

In 2024, EVICS Family Resource Center (EVICS) saw the highest year for the distribution of tuition assistance awards since the organizations conception in 2006. Awards supported families in the Estes Valley experiencing hardship or in need of emergency (short-term) assistance for childcare tuition costs, as well as, families who were typically served by the Colorado Childcare Assistance Program (CCAP) which was frozen to new applicants beginning February 2024.

Served 58 children- x% increase from the previous year

Support families during the CCAP freeze that begin in February 2024

And received funds from Buell Foundation to hire a consultant to help with the development of middle-income financial assistance

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$68,300��Two licensed childcare centers��- both received the Infant and Toddler Bonus��Preschool Fellowship Program at the YMCA

Priority Objective: Stabilizing the workforce by providing subsidies and support programs that allow for early childhood and childcare professionals to be paid closer to what is considered a liveable wage.

Workforce funding was distributed to the community through the Annual Early Childhood Workforce Subsidy, as well as a one-time grant to the YMCA of the Rockies in support of its 2024-25 Preschool Fellowship Program. The Annual Early Childhood Workforce Subsidy included an Infant and Toddler Bonus in 2024, which resulted in both eligible recipients receiving additional funds for serving children under the age of three. Recipients of the Annual Childcare Workforce Subsidy report higher retention rates than years prior to receiving the Annual Subsidy. One local childcare center who saw regular turnover in their previous full-time positions stated that the increased wages they were able to offer provided incentive for their teachers, stating

“two year-round staff members have been here for over 17 months with the idea of not leaving anytime soon, and that is huge for this program”

Center Director at YMCA of the Rockies

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$35,420��Consistent increase in capacity and enrollment in after-school and summer programs��Summer Inclusion Program provides essential services for the Estes Valley�

Priority Objective: Provide grant funding for the operation and expansion of capacity in after school programs and care when school is out. Long-term planning and collaboration with existing local organizations to strategically address the diverse needs of the community.

Due to the significant allocation of funds for the acquisition of a childcare facility, Out-of-School funding applications were deferred in fall 2024. As a result, applications for 2024-25 Out-of- School program funding were not reviewed or awarded until January 2025. As a recipient of 6E Funds for their Summer Inclusion Program, the YMCA of the Rockies Day Camp provided essential services to youth with special needs who are otherwise would not have access to childcare that serves their needs. The funds went directly to staff pay and to fund a highly qualified Lead Counselor who specializes in Special Education, and support counselors.

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$215,834��Retained 40 spots through the purchase of childcare center��$425,000 loan from the General Fund��

Priority Objective: The expansion and development of additional childcare facilities to ensure adequate space and resources to meet the current and future demand for quality early childhood care.

A unique opportunity to purchase and retain childcare slots was presented to the Town of Estes Park in July 2024. The owner of the existing childcare facility located at 1250 Woodstock in Estes Park was eager to sell the facility. While the Town was interested, there was not an eagerness to purchase the facility until the owner received an offer from a party that was not interested in continuing childcare at the location. The Town Board supported the acquisition of the property by unanimous vote. The purchase of the existing childcare facility retained 40 licensed childcare spots and provides stability for the existing provider, Mountaintop Childcare, and the many families in the Estes Valley that are dependent upon the preschool services they offer.

The acquisition of this property has triggered the development of a more long-term plan and strategy to acquire, maintain, and lease facilities to childcare providers in the Estes Valley. This Childcare Facility Plan is being drafted in 2024 to provide future direction for the use of 6E funds for similar acquisitions and new construction of childcare facilities. Additionally, the rent from the lease of these Town-owned properties is allocated to the Childcare Facility Fund and dedicated to the maintenance and capital expenditures required to maintain and expand these childcare facilities.

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Mountaintop Childcare

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Fund Distribution

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Childcare Outcomes

p. 13

The Town was in a unique position compared to other Larimer County communities and other communities across the state that went under a CCAP freeze. 6E funds were able to quickly be allocated to support families that would otherwise have been denied or placed on a waiting list for financial assistance. Other communities that saw a CCAP freeze have reported a drop in attendance at childcare centers due to parents withdrawing children because they can’t afford full tuition- leaving the entire workforce vulnerable.

Out of School programming saw huge leaps in capacity and enrollment in both after-school care, and summer care. 70% increase in after-school care capacity… 110% increase in summer program enrollment!

All center-based childcare teachers are receiving at least a minimum wage of $20/hour, with centers reporting on higher retention rates.

And of course, the purchase of a facility to retain 40 childcare spots was only possible because the Town had access to 6E Funds so we could quickly respond to the need.

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Housing Initiatives

Land Banking

Acquisition of undeveloped or underused property for workforce housing�

Development

Begin the predevelopment stages for new workforce housing units�

Assistance Programs

Create assistance programs that bridge the affordability gap for renters and homebuyers�

Staff and Administrative Costs

Increase staff at Estes Park Housing Authority�

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$5,359,679��Added 117 workforce restricted units��$159,886 expended on vacant land��

Priority Objective: Conversion of Housing- The purchase of existing homes and properties to be converted into workforce housing, ensuring accessibility and affordability for low- to moderate-income workers. Future Planning- Strategically acquire and hold vacant land or underutilized land for future development of workforce housing, ensuring availability of new development in the Estes Valley.

In 2024, land banking efforts included property acquisitions totaling $5,359,679, along with an additional $159,886 in vacant land purchases. Through the purchase of existing properties, over 100 housing units were successfully converted from short-term vacation rentals into workforce-restricted housing, increasing the availability of long-term housing for local employees. Key acquisitions like the purchase of the Fall RIver Village neighborhood, added 89 townhome and condominium units to the workforce inventory. The units range from 60-80% AMI rental rates and offer 1-, 2-, 3- and 4-bedrrom layouts. Through collaboration with the Town of Estes Park, utilizing the Workforce Regulatory LInkage Fee funds, 6E funds, and with Proposition 123 Equity Investment, EPHA was able to finance the purchase of the property. In addition to Fall River Village, the purchase of Beaver Brook Crossing added 20 townhome units ranging in rental rates between 60-70% AMI. Studio, 2-, 3- and 4-bedroom units provide many options for the Estes Valley workforce.

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Fall River Village

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Beaver Brook Crossing

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Grand Estates

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No 6E Funds��Town of Estes Park was the recipient of $2 million in Larimer County Grant Funds

Predevelopment work occurring at Fish Hatchery, 179 Stanley, and Riverside

EPHA serves as the lead developer for several workforce housing projects, including two on Town-owned land. Pre-development work occurred on three properties in 2024, with the potential planned development of over 200 workforce housing units in the next three years. The Town designated EPHA as a sub-grantee for $2,000,000 in funding from Larimer County for the Phase 1 predevelopment work of the Fish Hatchery Workforce Housing Development. As a reimbursement-based grant, these funds are retained by the Town and are not reflected in the total “2024 Inflows” until EPHA submits reimbursement requests for project-related expenses. Vacant land purchases in 2024 provide future opportunity for additional development in critical areas of the Estes Valley.

3% of total land banking funds went to the purchase of vacant land which will set EPHA up for future development of workforce housing

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Fish Hatchery Workforce Housing Neighborhood

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$223,720��Pilot Rental Assistance Program launched for middle-income working households��

2024 Priority Objective Design and implement rental assistance to support moderate-income working individuals and families, and assistance programs to support home ownership opportunities.

The development of financial assistance programs to support workforce households is an essential strategy to address long-term stability in the Estes Valley. The 2023 Housing Needs Assessment and Strategic Plan outlined the role of EPHA in developing these programs to bridge the gap between the current housing crunch and strategies that take years to implement. The implementation of the Workforce Rental Assistance Program was created in collaboration with existing housing assistance programs and their administration by local organizations. The roll out of the Workforce Rental Assistance program was presented as a pilot program, with minimal adjustments moving into 2025.

Home purchase assistance through a Down Payment Assistance program was explored heavily in 2024 with proposed launch of the program in 2025.

In addition to funds for the workforce rental assistance program, funds were distributed to Habitat for Humanity to support the redevelopment and sale of a workforce and income restricted home.

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$496,010��Staff that were hired in 2023 funded with 6E ��Real Estate Development Director��Housing Program Manager�

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Fund Distribution

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Fund Distribution

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Housing Outcomes

p. 18

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A Breakthrough Year

Increased affordable, workforce housing units, ensuring that more residents have access to safe, stable living conditions.
Strengthening support systems for families with children in care through financial assistance programs
Stabilizing childcare workforce by investing in workforce retention and the acquisition of a childcare facility.
Providing financial relief to residents in need and promoting housing stability through rental assistance.

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2025 and Beyond

The approved 2025 6E Funding Plan distributed funds between housing and childcare 80/20
Consistent revenue projection for 2025 (6% increase)
Begin public outreach for 2026 6E Funding Plan this summer!

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Thank you.

This Photo by Unknown Author is licensed under CC BY-NC

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Distribution by Recipient
Childcare Workforce Mountaintop YMCA of the Rockies YMCA of the Rockies Out-of-School Funding YMCA of the Rockies EVRPD Tuition Assistance EVICS Capital and Facilities Mountaintop Purchase	$68,300 $26,250 $33,750 $8,300 $35,420 $35,420 $12,400 $188,260 $188,260 $215,834 $215,834

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Resources

2024 Workforce Housing and Childcare Funding Plan aka “Annual 6E Funding Plan”

2025 Workforce Housing and Childcare Funding Plan aka “Annual 6E Funding Plan”

2024 Childcare Needs Assessment and Strategic Plan

2023 Housing Needs Assessment and Strategic Plan

2024 Estes Park Housing Authority Annual Housing Supply Plan

December 2024 Sales Tax Revenue

Local Marketing District Tax Information

Proposed 6E Ballot Initiative Framework (September 2022)