With the passage of Ballot Initiative 300 last week, the Estes Park Housing Authority is facing numerous unanswered questions regarding current and future development plans. 

A draft letter to the Town reviewed during the EPHA’s Board meeting on Wednesday asks how the passage of Initiative 300 affects in-progress applications and the rezoning of portions of development projects at Fish Hatchery, 179 Stanley Dr., and 775 Riverside Dr. 

“Depending on the answers, they have significant timing and financial impacts on these proposed developments,” said EPHA Executive Director Scott Moulton. 

Several of the Authority’s workforce housing projects are already underway, with rezoning applications filed and preliminary plans in progress.  Moulton said that while the Town may not yet have the answers to how these applications will be affected, “it is part of our duty, and this Board’s duty, to begin asking these questions.”

Board Chair Eric Blackhurst raised concerns about the “legality and practicality” of the initiative, which, if certified, would require written approval from two-thirds of property owners within 500 feet of any proposed rezoning or planned unit development. Moulton warned that such a process could “dramatically increase the risk” associated with new housing efforts.

The Board is now weighing two key questions: how to comply with the initiative’s requirements if it takes effect, and whether to challenge the measure’s legality in court.

Budget planning

Also during Wednesday’s meeting, the Board reviewed its 2024 financial audit, presented by Rich Larsen from the accounting firm, Novogradac. The audit was delayed because the Loveland Housing Authority, which handles financial information for the EPHA, submitted information late.

Larsen highlighted the Board’s $3.374 million in current assets and $1.1 million in current liabilities. This leaves the EPHA with $2.3 million in working capital and in a “good financial ratio,” said Larsen. 

Those assets provide some stability as the authority moves forward with its 2026 budget. The plan aims to add 125 workforce housing units by 2030, a target that could now be complicated, potentially even halted, depending on how Initiative 300 is interpreted and enforced.

At first look of the 2026 spending plan last month, Moulton outlined the budget’s mission to help provide a “balanced and sustainable Estes Valley.” At Wednesday’s meeting, he provided answers to questions asked by EPHA Board members and highlighted two structural changes. 

The changes include transitioning direct expenses from the Lodging Tax 6E into the EPHA’s budget to make it “more clear who’s paying for what,” and adding a seasonal maintenance and full-time EPHA administrative position. The budget will be finalized in December, and if Initiative 300 is certified, the organization will need to plan for a significant increase in costs for public relations and securing the support of neighboring property owners for developments, according to Moulton. 

“To preserve Estes Park, we need to continue to provide housing for workers and families.”

Director of Real Estate Development Pete Levine briefed the EPHA Board on ongoing projects, including 775 Riverside, which is midway through its annexation and design process. Levine stated that several public hearings remain to be held, and this “redundant” process is one of the reasons streamlined annexation processes are being considered in the Development Code update.

With numerous public debates about housing development and the need to preserve Estes Park, Levine concluded his development update by presenting the Board with some census data about the Town. The population of those 65 and older in Estes Park increased by 49% from 2010 to 2020, while the population of those under 17 years old decreased by 17%. 

“To preserve Estes Park, we need to continue to provide housing for workers and families,” said Levine. “If we cannot execute on this, the town will continue to see rapid change as workers and families are continually driven out of town.”

For now, the EPHA and the community in Estes Park wait to see the full implications of Initiative 300. Not only will it severely impact workforce housing developments, but the future of Estes Park for years to come.