Posts tagged debt
Boulder expands grant assistance available for low- and middle-income home buyers
Aug 22nd
The City of Boulder has joined other jurisdictions in the Metro Mayor’s Caucus in making homeownership more affordable through a non-repaid grant available to low- and middle-income buyers.
The program provides a competitive 30-year fixed-rate mortgage with a grant for down-payment assistance equal to 4 percent of the mortgage amount. Income requirements are less than $91,100 for households of two or fewer persons, and less than $103,000 for three or more.
“This is a great opportunity for qualified individuals,” said Jeff Yegian, acting manager of the Division of Housing. “City of Boulder participation in this program adds another resource to make homeownership in Boulder more accessible to low- as well as moderate- and middle-income households.”
Other conditions for participation include:
- Standard loan guidelines must be met.
- Buyers must have a minimum FICO score of 640 (660 for manufactured homes), and a maximum debt-to-income ratio of 45 percent.
- Buyers must complete a HUD-approved homebuyer education class. The class currently required of buyers for the City of Boulder Permanently Affordable Homes program satisfies this condition.
- Purchasers must occupy the home as their primary residence, but they do not have to be a first-time homebuyer.
There is no limit on the property purchase price, although it should not exceed the lender’s loan approval amount. This program is intended for purchase of a primary home, and excludes refinance or purchase of a second property. Approved structures include single-family detached homes, condominiums, townhomes, duplexes and manufactured homes.
This program does not require repayment and funding is expected to continue through approximately December 2014.
A complete list of approved lenders and additional information for lenders who wish to become approved for the program is available at the City of Denver’s website,http://www.denvergov.org/oed/DenverOfficeofEconomicDevelopment/HousingAssistance/MetroMortgageAssistancePlus/tabid/444354/Default.aspx, or email Stacy Houston at stacy.houston@raymondjames.com.
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–CITY–
Colorado business confidence remains positive going into first quarter, says CU Leeds School index
Jan 2nd
For the first quarter of 2013 the LBCI, conducted by the Leeds School’s Business Research Division, posted an overall confidence reading of 51.3, down slightly from 51.6 in the fourth quarter of 2012. A reading greater than the neutral mark of 50 indicates positive expectations and one less than 50 indicates negative expectations going forward
Business leaders are optimistic about all of the metrics of the quarterly index except for the national economy and industry hiring plans. The other categories measured include the state economy, industry sales, industry profits and capital expenditures.
“For months, drags on the national economy have included the European debt crisis, the slow rate of employment growth and the resolution of the federal debt crisis,” said economist Richard Wobbekind, executive director of the Business Research Division. “While Colorado business leaders have stronger confidence in the local economy than the national economy, they’re proceeding very cautiously.”
Confidence in the state economy, which is at 55.5 points for the first quarter of 2013, outstrips that of the national economy, which posted a reading of 47. The outpacing of confidence in Colorado’s economy compared to the national economy is a 30-quarter trend, based on LBCI results.
Business leaders’ sales expectations for the first quarter rose to 54.4, up from 53.2 last quarter, and are buoyed by 44.1 percent of LBCI respondents who anticipate an increase in the first quarter versus only 25.2 percent who predict a decline. Meanwhile, leaders’ profit expectations fell to 51.6, down from 52.2 for the last quarter of 2012.
Hiring expectations have slipped into negative territory at 49.3, down from 51 in the last quarter of 2012, while capital expenditures remain close to neutral at 50.1.
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New CU power plant aims for LEED gold certification
Aug 30th
carbon-conscious campus utility system
The first phase of construction on a University of Colorado Boulder campus utility project — which will provide efficient heating and cooling while significantly reducing the university’s carbon emissions — begins this week with utility work and construction staging on the south side of campus.
The project is expected to be complete in the winter of 2014 and involves three major components: renovation of the campus Power House on 18th Street; construction of a separate, new heating and cooling plant; and installation of new utility distribution systems.
“Safe, reliable and efficient energy is crucial for providing uninterrupted power that supports CU-Boulder’s educational and research mission,” said Steve Thweatt, executive director of Facilities Management. “This project will ensure that we can effectively consolidate the heating and cooling of a number of buildings on the Boulder campus while continuing to build our leadership in sustainability.”
The $91.1 million project, which is being funded through a combination of cash reserves and long-term debt proceeds, also will replace chiller and boiler equipment that is critical to campus operations.
Excavation will start at the beginning of September on the new heating and cooling plant, called the East District Energy Plant. Located near the Coors Events Center, the 72,000-square-foot facility will showcase energy efficiency concepts. In addition, the university is pursuing Leadership in Energy and Environmental Design, or LEED, gold certification for the building. LEED certification is a U.S. benchmark for sustainable design and construction.
As part of this project, workers will begin digging at several locations around campus in September, including 18th Street and Kittredge Loop Road, to install piping to deliver chilled water needed for campus air conditioning systems. The installation will allow the Kittredge residence complex to have air conditioning for the first time.
Next fall, renovation will begin on the original campus Power House, built in 1909. The Power House includes a cogeneration plant and will have its equipment replaced and upgraded such that the facility will be able to meet approximately 50 percent of the campus’s electrical power requirements using natural gas — a method that produces fewer carbon emissions than the local utility.
“We anticipate that natural gas will be an economic energy source for the campus for the future, which can be implemented as appropriate,” said Campus Architect Paul Leef.
As part of the renovation, the plant’s exhaust waste heat will be recovered and used to provide both heating and additional electrical power without burning extra fuel. It is estimated that the renovated Power House facility, which will be renamed the West District Energy Plant, will have the capability to reduce carbon emissions by nearly 30,000 metric tons per year.
“The two plants will be connected such that when the entire system is online, the plants will work in tandem with the upgraded distribution system to deliver a high level of efficiency and reliability, helping the campus reduce its carbon footprint,” said Moe Tabrizi, director of campus sustainability.