The Longmont Housing Authority Board of Directors Tuesday night is scheduled to review an annual financial audit of the agency, which provides low-income housing to residents.
The audit found that the Housing Authority finished 2021 with a net position of over $19.5 million, according to a draft report. The Authority also earned over $5 million in grant income in 2021 for administration and voucher funding.
Cash and restricted cash totaled over $4.8 million by year’s end, the draft report states.
Current assets for the Authority increased as compared to the prior year by $670,997 during 2021, the report states.
The major contributors towards the increase are:
- $543,000 - Developer fees received in cash for Aspen Meadow Senior Apartments.
- $75,593 - Developer fees received in cash for Suites Apartments, LLLP.
The Board of Directors, — which consist of the Longmont City Council — are scheduled to review during their regular business meeting, starting at 7 p.m.
There is also a city council pre-session scheduled Tuesday to discuss affordable housing.
