January 2023. We are almost there!

DOLA finally released their application for ARPA (American Rescue Plan Act) funds on December 15th, and the CPCH application was submitted December 28th. There is an extensive review process underway, and we expect to receive notice of the grant award sometime in April.

In the meantime, the structure vendors have updated cost estimates and reserved a space in their 2023 construction schedules for Living Wisdom Village. Finishing details are being made to the construction plans, and CPCH is prepared to begin the construction process as soon as notice of the grant award is received.

It is CPCH’s intention to build Living Wisdom Village with no long-term debt in order to keep rents affordable for the demographic this project will serve (seniors with low-income). Approximately 65% of the applicants have social security income of $700 - $1,100 per month, with no capacity to improve their financial circumstances. To be successful in this intention, CPCH needs to raise an additional $250K in grants and donations. We would like to stress just how close CPCH is to completing its capital stack; the total project cost for LWV is just over $6M, and we only have $250K to go to complete the funding!!

Please help CPCH close this gap and make LWV truly affordable, increasing equity for housing-cost overburdened seniors. Donations can be mailed to CPCH, P.O. Box 911, Crestone, CO 81131 or made online at donate. Enterprise Zone 25% Tax Credits are available to all Colorado taxpayers who contribute $100 or more. Thank you for helping CPCH get to the funding finish line.

We will be updating the construction schedule once the notice of award has been received from DOLA, and I’m really looking forward to providing updates on the construction process this year!

July 2022 Update

CPCH had anticipated breaking ground for Living Wisdom Village in August 2022, once receiving confirmation from the state of full funding from American Rescue Plan Act (ARPA) funds. The states’ rollout of this process has been slow, and the last update I’ve heard is that applications for funding will become available in August/September, with funds distributed in October/November. Although this delay is frustrating for the board, applicants, and contractors, the availability of this funding will allow LWV to be built with no long-term debt, and rents can be truly affordable for seniors with 30% to 80% AMI (area-median income). Most applicants on the LWV waitlist have only $700 - $1,100 monthly social security income.

CPCH has continued to raise money to close the construction funding gap, receiving over $120K in private donations and $155K in grants between January and June! We are so appreciative of your continued support of and commitment to this project. Every dollar we raise strengthens our competitiveness for the state grants.

The community center design has been amended to increase the main meeting/dining/entertainment space from ~620 sf to ~1050 sf and to incorporate a craft room of ~230 sf (updated design attached). Design for an emergency generator to power the community center during extended outages was also added during this upgrade. A scope of work to add solar PV arrays to all structures has been approved by the board and we anticipate that this significant upgrade will be fully funded, adding both financial and environmental benefits for future residents. The project is shovel-ready.

The tentative revised construction schedule has ground-breaking occurring this year, with completion of the project by June 2023. There are two unknown factors in this schedule:

• When ARPA funds will be disbursed

• Supply chain issues

When CPCH begins construction, a communication will be sent to everyone on the waitlist to learn if you are still seeking housing at Living Wisdom Village. Positive responders will then be mailed an application package.

The 2021 audit has been completed, with the CPA stating that the audit was ‘clean, easy, and uncomplicated’; those are words I love to hear regarding an audit. Reflecting to 2018, when the LWV Committee was seated as the CPCH board of directors, CPCH ended 2018 with total revenue of $15,766 and total assets of $1,335. Just three years later, CPCH ended 2021 with total revenue of $502,581 and total assets of $817,957. This is such an impressive story for a non-profit in Crestone to be telling! CPCH has a hard working, committed team of community leaders driving this project.

CPCH is still in need of financial support, both to cover monthly operational expenses, and to increase our contribution towards construction costs on state grant applications. Thank you in advance for your continued partnership in bringing affordable housing for seniors to the Crestone community.

Senator Cleave Simpson Supports LWV!

"I became aware of the Living Wisdom Village in the summer of 2021 and had the opportunity to visit with the community volunteers working to create one of the most visionary models of affordable elder housing you could imagine. What a wonderful example this is of a community coming together to share expertise and their thoughtful approach and providing for much needed affordable housing in the Crestone community. I applaud and fully support the efforts of the Crestone Peak Community Housing efforts to construct and operate the Living Wisdom Village."