2005 Section 108 Project Summary - Colorado

Public Facilities

Lakewood Public Facilities/Park
BORROWER: LAKEWOOD
STATE: CO
SECTION 108 LOAN GUARANTEE AMOUNT: $3,742,000

Lakewood will use the Section 108 Guaranteed Loan to support the redevelopment and construction of public facilities and parks in eleven different low and moderate-income neighborhoods.

The Lakewood Housing Authority plans to construct childcare facilities in each of the neighborhoods that offer a sliding scale fee system so that low- and moderate-income clientele are the primary beneficiaries. These facilities will be owned by the City and constructed on land owned by the Lakewood Housing Authority.

There are several aging and inadequate recreation facilities and parks in these neighborhoods that need repair and replacement of recreational equipment. The Section 108 Guaranteed Loan funds will assist the City in redevelopment and construction of these spaces to meet the need for recreation space, additional amenities, safety issues, and to maximize the amount of park and recreation space available to citizens of the eleven low- and moderate-income neighborhoods.