Low-Income Housing Project for Artists to Boost Loveland’s Economy

On September 21st, Loveland City Council will be deciding on a budget appropriation for the Artspace project.  Artspace is an out of state private developer who is hoping to partner with the City of Loveland on a low-income housing project directed towards artists.  At an initial presentation given to City Council, it was projected that the City’s portion of upfront costs would be $550,000.  The City’s portion of the actual construction costs is yet to be determined.

At the City Council meeting, we will all learn if Artspace is looking for the $550,000 up front or in smaller doses.  Obviously, it’s easier to fly below the radar if it is a smaller amount like $150,000, so bets are on that the request will come in doses. 

Not that giving money to a private developer is ever good, the two major problems with dosing the money are transparency and project committment.  Transparency comes into play as the casual observer of City Council may only catch the smaller amount and not think it is a big deal or part of a bigger scheme, so rather than argue against the spending they may take a position of, “Well, it’s only $150,o00.”  Project committment becomes an issue because ‘dosing’ the money out only requires a committment for that ‘dose”, if the $150,000 for this go-around is for a feasiblity study and $200,000 the next go-around for plans, then that is all we get.  If the project doesn’t move forward, the end result is the taxpayers are out $350,000 with only a study for a project that won’t happen and plans for a project that won’t happen to show for the investment.  The other committment problem arises by the undertermined construction cost requests.  Spending any amount of the $550,000 without knowing what the final request will be, doesn’t seem very prudent – especially in the current ecomony.

 The connection between low-income housing and Downtown Revitalization is one last curious point about Artspace.  Surely, Artspace will be pushed as a piece of the puzzle to bring Downtown back to life, while low-income housing projects are promoted as a ‘hand-up’ type of program.  One would believe that in a successful low-income housing project, the recipients are more interested in improving their own financial situation instead of pouring money into a micro-economy to boost it back to life.  How the two goals can be married together is yet to be seen.