The Estes Park Housing Authority and the Estes Park Town Board met on Tuesday evening for their first joint study session since the EPHA became an independent entity in 2000.
The meeting was requested by Trustee Mark Igel over questions regarding the EPHA’s decision to reject an offer from developer Paul Pewterbaugh to purchase 24 units at Fall River Village and the associated SkyView Event Venue.
Igel raised concerns about the organization’s governance and the transparency of its board in its decision-making processes, noting that it is an independent quasi-governmental entity operating with an appointed board of directors that controls over $4 million in taxes collected from 6E funds.
Trustee Frank Lancaster said the EPHA is not the only appointed board overseeing taxpayer dollars. The Estes Valley Public Library District also operates on taxpayer funds with an appointed board.
According to data presented by Scott Moulton, the organization’s executive director, the EPHA currently serves 658 tenants across 319 households, representing 7.4% of Estes Park’s population. The EPHA controls several low-income housing tax credit and workforce housing properties, including Falcon Ridge, Lone Tree, Peak View, and its largest, Fall River Village, with 89 units.
Their mission statement reads, ‘In order to ensure a balanced and sustainable community the Estes Park Housing Authority creates and facilitates housing opportunities and services for persons of low and moderate income.”
After a review of the EPHA’s mission, property control, and spending of 6E funds was presented, Moulton answered questions from Trustees Igel and Jamie Mieras regarding definitions of income and workforce housing.
Moulton told Town Board members that low-income households are those earning 60% to 80% of the area median income (AMI), and households earning 80% to 120% of AMI are considered moderate-income. Data from the housing authority in 2024 shows that the AMI for a one-person household exceeds $80,000 in Larimer County.
Workforce housing is not restricted by income, but by employment within the Estes Park School District R-3 boundaries. To qualify, at least one household resident must work at least 24 hours per week within the district.
What prompted the study session — the declined offer to sell 24 units and the Skyview Event Center within Fall River Village — reflects the community’s debate around the need for increased affordable and workforce housing.
A housing needs assessment conducted in 2023 by Root Policy Research for the Town of Estes Park and the Estes Park Housing Authority estimated that 2,720 units will be needed by 2030 to address the current workforce housing shortage and forecasted employment demand. Two-thirds of these units are needed at price-points affordable to households earning less than 120% AMI; 21% are needed for households earning less than 30% AMI.
The housing authority purchased Fall River Village in October of 2024 from Grand Heritage Holdings, owned by hotelier John Cullen, for $35 million, according to a website maintained by the Larimer County Clerk and Recorder’s office.
The units are designated for workforce housing, with rents ranging from 60% to 80% of the AMI, and there are no income restrictions on the units in the upper portion of the property.
Moulton told the trustees that the purchase of the property was driven by the EPHA’s mission to help solve housing needs in the community, and to balance the debts from the purchase, selling some of the higher-value units, around 12-14, for an estimated $12.5 million, would do so while still serving their mission.
The offer to purchase 24 of the 89 units of the property and allowing the SkyView Event Center to operate as a commercial property could help reduce some of the EPHA’s debt from the purchase, however Moulton said that the offer was “significantly under the fair market value of the property,” and the board agreed selling the units would not meet the housing authority’s mission of providing affordable housing to the community and workforce.
“We don’t get the opportunity to charge market rate, because we don’t want that opportunity. Our mission is different. Our mission is to fill in the gaps where the market fails,” Moulton said. “When a market can’t provide a housing solution for members of our community, that’s where we have to step in.”
What’s next?
Beyond the immediate numbers and debate surrounding Fall River Village, the joint session showcased the complex balancing act required to manage the Estes Valley’s critical housing inventory.
Tuesday night’s study session dialogue between the two boards showed how public mechanisms, specifically 6E funds and linkage fees, have reshaped the EPHA’s capabilities, allowing them to secure major properties that would otherwise be economically unfeasible.
Following the meeting, Trustee Igel took to Facebook to share his perspective on the session, reiterating his belief that the Town Board maintains a strict fiduciary responsibility to taxpayers regarding the stewardship of Fall River Village and the oversight of 6E public funds.
While acknowledging the high volume of data provided by the housing authority, Igel expressed ongoing concerns regarding transparency, public visibility into asset decisions, and the “highest and best use” of the 6,500-square-foot SkyView venue, which the EPHA currently plans to use for staff offices.
Igel noted a persistent community concern about the loss of property tax revenue when the resort transitioned to public ownership and called for continued public examination of the EPHA’s specific definitions of low-income and workforce eligibility.
Ultimately, Igel indicated that he left the session with several unresolved questions and pledged to provide a more detailed assessment in the coming weeks to identify opportunities for improving public engagement and structural accountability.
As the EPHA moves forward with its mission and works to ensure long-term debt sustainability, the debate over the community’s housing needs continues.
With over 7% of the town’s population relying on EPHA’s stabilized, deed-restricted properties, the ongoing alignment between elected town leadership and the housing authority will influence the economic future of the local workforce.