The city of Cortez put an indefinite hold on plans for a new southside park because of inadequate funding, officials told residents Monday evening, but will move forward with a study to determine the viability of potential housing on the 14-acre plot.

Plans for the so-called Southside Park at South Oak and West Seventh streets were conceived in 2018, with construction previously expected to begin and end in 2019. However, a city embezzlement scandal, the COVID-19 pandemic, rising costs and other issues delayed that timeline.

Now, there is not enough city funding to move forward with the original plans, according to Parks and Recreation director Creighton Wright, which included pricey amenities like new athletic fields, a BMX area, splash pads and other proposed additions.

“In the next couple of years … we'll come back and start reevaluating the site to determine its long-term future,” he said. “What we really need to look at is the path forward as it relates to the amenities.”

While Wright said the city was still committed to using the site of the old Montezuma-Cortez High School for a community park, he could not provide a timeline for when completion could occur, citing a litany of “deferred maintenance items” that took precedence, including an unidentified issue at Centennial Park that Wright said would likely force the city to “decommission something” in the coming months.

“The last cost estimate we got is somewhere between $5 and $7 million. And it's going to take us a long time to figure out how to come up with an extra $5 to $7 million,” said Wright.

In the interim, the city will work on improving the irrigation system on the site and adding a small number of amenities for residents to use, including picnic tables.

Meanwhile, the city is moving forward with plans to potentially build new housing on the site, which officials said is desperately needed.

“We need, right now, immediately, 75 to 150 more housing units. On average, we only build about 20 per year,” said Community and Economic Development Director Rachael Marchbanks. “Based on that, we really wanted to look at this site again and prioritize some housing development.”

The city will work with Colorado Housing and Finance Authority to reassess its housing plan for Southside Park, according to Marchbanks, including figuring out updated cost projections and what type of development could go on the site.

“Then we're going to have to look at other potential funding sources and partnering with a developer,” she added.

And while the original plans sectioned off 10 acres for the park and four acres for housing, that could change in the future depending on the results of the upcoming housing survey.

“We're looking … to identify something that a developer would be interested in coming in here and start working on,” said Wright. “If that means we’ve got to add an acre or two, I think that's something that we should consider.”