City Launches New Employer-Based Rental Assistance Pilot Program
Employers may apply through Friday, February 14, 2025
CITY OF GLENWOOD SPRINGS NEWS RELEASE - LEARN MORE
Contact: Bryana Starbuck, Public Information Officer, bryana.starbuck@cogs.us
City Launches New Employer-Based Rental Assistance Pilot Program
Employers may apply through Friday, February 14, 2025
The City of Glenwood Springs is excited to announce the launch of an innovative Employer-Based Rental Assistance pilot program. This initiative is designed to support local employers and their workforce by easing housing challenges and promoting stability within the community.
About the Program
The pilot program provides rental assistance to employees who live and work in Glenwood Springs, through partnerships with Glenwood Springs employers, making housing more accessible and affordable. The City’s effort is part of a broader strategy to address the critical need for workforce housing and maintain a vibrant, economically resilient city.
An employee paying more than 30% of their monthly income on rent may receive financial assistance to offset a portion of their monthly housing costs. Half of the rental assistance comes from the City of Glenwood Springs Workforce Housing Fund, and half comes from participating local employers. Upon acceptance into the pilot program, financial support from the City is guaranteed for one year. Both the Glenwood Springs Workforce Housing Fund Advisory Board and City Council will reevaluate the efficacy of the program before determining future funding.
“We all depend on the folks who work in our stores, provide services, and offer care in Glenwood Springs. By partnering with local employers to support employees with rental costs, we hope to help existing community members that contribute to quality of life for all residents,” said Kevin Rayes, Housing Development Manager with the City of Glenwood Springs. “In the short term, this pilot program will ease the financial strain on participating employees and allow households to move past paycheck-to-paycheck living. Plus, the program will help Glenwood businesses retain staff. Long term, it is one tool to help to strengthen our community and ensure that Glenwood Springs remains a place where people can thrive.”
Eligibility
Employers are eligible to apply for the program on behalf of their employees. The following criteria must be met prior to applying:
Applicant (employer/business entity) must own or manage a business with a physical, permanent location in Glenwood Springs city limits that regularly conducts business within city limits.
Applicant must match the financial support provided by the City for one year (i.e., pay an amount equal to the rental assistance provided through the workforce housing fund).
Applicant must employ an eligible local employee for a minimum of one year prior to the date of applying. The employee should work a minimum average of 32 hours per week.
The eligible local employee must reside in a cost-burdened household (i.e., pay more than 30 percent of their income on rent).
The eligible local employee must be pre-approved for a rental dwelling or already reside in a rental located within Glenwood Springs city limits.