HomeMy WebLinkAboutEmployee Housing Strategic Plan 2008
Employee Housing
Strategic Plan
“To ensure there is deed restricted housing for
at least 30% of Vail’s workforce
within the Town of Vail”
September 2, 2008
Adopted by Resolution No. 20,
Series of 2008
2 Employee Housing
Strategic Plan
In acknowledgement of the commitment to ensure deed-restricted housing
options for at least 30% of Vail’s workforce within the Town of Vail
Vail Town Council Vail Local Housing Authority
Dick Cleveland, Mayor Mark Ristow, Chairman
Andy Daly, Mayor Pro-Tem Sally Jackle
K e v i n F o l e y S t e v e L i n d s t r o m
M a r k G o r d o n E t h a n M o o r e
F a r r o w H i t t K i m N e w b u r y
Kim Newbury
Margaret Rogers
Planning and Environmental Commission
Bill Pierce, Chair
Rollie Kjesbo, Co- Chair
Michael Kurz
Sarah Paladino
Scott Proper
Susie Tjossem
David Viele
Vail Economic Advisory Council
Local Employers Mark Gordon
Vail Resorts, Inc. Dick Cleveland
T o w n o f V a i l A l a n K o s l o f
Vail Valley Medical Center Bob Boselli
T i v o l i L o d g e G r e g M o f f e t
Marriott Resort Rick Scapello
Vail Cascade Hotel and Spa Robin Litt
Vail Plaza Hotel Sally Hanlon
Troy’s Ski Shop Bill Jensen
Vail Plaza Hotel Rob Levine
Sonnenalp Hotel M. Joseph McHugh
S w e e t B a s i l P a m S t e n m a r k
M a r k C e r v a n t e s
Matt Morgan
B r i a n N o l a n
RRC Associates, Inc Steve Kauffman
Chris Cares Tori Franks
R a y l a K u n d o l f
B o b M c N i c o l s
3 Employee Housing
Strategic Plan
Table of Contents
Purpose 5
Time Frame 6
Threats, Weaknesses, Strengths, & Opportunities 6
Objectives 9
Policy Statements 11
Action Steps 12
Implementation Matrix 19
Roles and Responsibilities 21
Appendix 23
a. Glossary
b. Resolution Adopting the Employee Housing Strategic Plan
c. Process Timeline
d. Existing “Conditions” Survey Results (to be added upon completion)
4 Employee Housing
Strategic Plan
5 Employee Housing
Strategic Plan
TOWN OF VAIL
EMPLOYEE HOUSING
STRATEGIC PLAN
BACKGROUND
In 2006, through the Vail 20/20 Focus on the Future process the community
established a housing goal. It is as follows:
“The Town of Vail recognizes the need for housing as
infrastructure that promotes community, reduces transit needs
and keeps more employees living in the town, and will provide
enough deed-restricted housing for at least 30 percent of the
workforce through policies, regulations and publicly initiated
development.”
Based upon the community’s work, the Vail Town Council has confirmed the
Town of Vail recognizes deed restricted employee housing as basic
infrastructure. This type of housing allows employees to live within the town,
promoting community, and improving the quality of our local workforce, thereby
supporting the local economy, and reducing regional transit needs. The
Employee Housing Strategic Plan (EHSP) seeks to meet the expectations
established by the community and confirmed by the Town Council and provide
enough deed-restricted housing for at least 30 percent of the
community’s workforce to live in the Town of Vail through a variety of
policies, regulations and publicly initiated development projects.
PURPOSE
The EHSP is a decision-making guide for the implementation of employee
occupied housing programs.
The EHSP documents the Town’s current approaches to ensuring employee
housing. It identifies the goal, outlines methods and defines action steps the
Town will pursue. In addition, the Appendices provide background information
on Town housing definitions, policies, and initiatives. This information is
provided as an additional resource. The EHSP also recognizes and affirms the
importance of Vail constantly serving as a regional partner in the provision of
employee housing.
6 Employee Housing
Strategic Plan
The EHSP is meant to lead the actions of Staff, the Vail Local Housing Authority
and the Vail Town Council in future decisions regarding funding and development
of employee housing in Vail.
PLANNING TIMEFRAME
The EHSP is based on a five-to-ten year planning horizon; it looks well into the
future anticipating the needs for employee housing over time. The EHSP also
contains identified “action steps” targeted for a one to three year period. These
action steps will need to be evaluated annually and it is anticipated that they will
be updated at least every three years as market conditions change.
THREATS, WEAKNESSES, STRENGTHS & OPPORTUNITIES
It is important to recognize and plan for the threats, weaknesses, strengths and
opportunities that exist in the Town of Vail as well acknowledge the broader
trends that impact Vail.
Threats
Increasing Competition For Employees
o Within the next ten-years:
9 Conservative estimates predict 2,000 new jobs will be
created by development and redevelopment within the Town
of Vail
- The majority of these jobs will be service sector
9 It is estimated that at least 7,500 new jobs will be created
between Eagle Vail and Gypsum in the next ten years
- The majority of the these jobs will be service sector
9 It is estimated the Ginn Development will add 1,000 new
jobs
9 Lake County and Garfield County are both experiencing job
growth
- The oil and gas industry and mining generally pay
substantially more than the service jobs being created
in Eagle County
9 State of Colorado predicts overall job growth of 23% (DOLA)
7 Employee Housing
Strategic Plan
Real Estate Trends
o Real estate in the Town of Vail is expensive as compared to the
rest of the region as well as compared to the national market
o The conversion of locally occupied housing to second homes
o The free market focuses on the housing desires of second
homeowners
o Increasing cost of construction
o Local real estate values continue to trend upward
o The gap between what locally earned wages can afford and free
market housing prices continues to increase
Unique Geographic Constraints
o Vail Pass on the East
o Dowd Junction on the West
o Limited undeveloped land within the Town of Vail
o Surrounded on the north and south by National Forest and
Bureau of Land Management lands
o Farthest employment center from the Eagle County population
base
Cost of Commuting
o The cost of gas continues to increase
o Public transportation does not provide a viable alternative to all
communities
o The availability and cost of parking is prohibitive
Weaknesses
Politics
o Historical lack of political will for developing new employee
housing
o Previously, no clear policy direction for the provision of
employee housing
o Lack of Town owned land zoned for employee housing
o There is not dedicated funding for employee housing
o At the beginning, failure to plan for the housing needs of Vail
employees
8 Employee Housing
Strategic Plan
Real Estate Market
o Lack of free market homes affordable to local employees
o Potential home buyers get less “bang for the buck” in Vail as
compared to the region
o Deed restricted housing developed does not provide a full
spectrum of housing types (i.e., single family homes and
seasonal rental units)
Lack of permanent employees hired by local businesses
o The jobs being generated by redevelopment are predominately
lower paying seasonal service jobs
o Added challenge to establishing a diverse community
Strengths
Community support for creating new employee housing
Clarity around the Town’s adopted housing goal
Regulatory requirements
o Commercial Linkage
o Inclusionary Zoning
Vacant land owned by the Town
Strong local financial conditions
o Bonding capacity
o Strong local tax base
o Potential to invest in employee housing
Regular private reinvestment in development
Expanding partnership opportunities with local businesses and
governments
Current deed restricted housing stock
The “Vail” brand
Opportunities
Town Initiated
o Employee Housing Strategic Plan
o Town owns significant vacant land
o Rezoning of Town owned vacant land
o Land Use Plan amendments
o Annexation of land adjacent to the Town
9 Employee Housing
Strategic Plan
o Ability to reallocate existing revenue
o Bonding capacity
o Ability to go to the voters for a dedicated funding source
o Partnerships with local employers
o Public-Private partnerships for development
o Potential United States Forest Service Land Swaps
Regional Opportunities
o Other local governments are addressing the housing need as
well
o Significant vacant land
o Partnerships with local employers
o Public-Private partnerships for development
o “The Valley Home Source”
Current stagnation in real estate values
OBJECTIVES
A. Provide housing to address needs generated by new development or
redevelopment.
It is documented and understood that new development will require
additional employees and a goal of the EHSP is to provide for that
housing. This goal is also referred to as “ Keep Up” in the EHSP; going
forward the Town will attempt to address the increase in demand from
new employees by requiring deed-restricted housing as a condition of new
development or redevelopment. The Town will encourage developers to
provide a range of housing choices for the entire spectrum of jobs that
are being created by the new development.
B. Respond to the existing affordable housing shortfall by pursuing a
number of identified programs and development opportunities.
This goal is also referred to as “Catch Up” in the EHSP; it describes efforts
to address deficiencies in the available housing inventory that have arisen
over a period of years.
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Strategic Plan
C. Call for any deed-restricted housing that is required as a condition
of development to be constructed at the time new development
occurs.
By dispersing year-round housing multiple objectives are met:
neighborhoods are occupied throughout the year enhancing security and
encouraging activity. Economies are achieved by having developers
integrate deed-restricted housing at the time they are constructing other
uses, and construction of new residences occurs at the time the demand
is first triggered.
D. Creation and maintenance of housing in Vail for emergency and key
service workers.
In Vail, where weather and the regional road system create periodic
strains, this is especially important. The Town will also work with other
businesses that provide services essential to municipal operations to
encourage they have critical employees living within the Town of Vail.
The Town will offer partnership opportunities to these types of employers.
E. Actively address affordable housing for Vail workers to ensure that
the community remains competitive in economic terms.
With the number of Down-Valley jobs continuing to increase, there will be
competition for workers; Vail will work to provide appropriate housing to
ensure that the Town remains attractive in the regional job market.
F. Increase and maintain deed-restricted housing within the Town to
encourage the efficient use of resources by placing employees
closer to their place of work.
It is understood there is a reduced need for personal automobiles and
reduced transit costs when home and work are in close proximity to one
another. Also, there may be changes in workforce demographics that
result in opportunities to reduce parking associated with affordable
housing in selected locations. To the extent these opportunities can be
realized, without negative impacts on the overall community, they will be
explored.
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Strategic Plan
G. Planning for new employee housing will take jobs and wages into
account.
It is recognized that wages associated with a particular job influence
housing demand. In both catch-up and keep-up programs the Town will
work toward providing a range of housing types at price points
appropriate to the varying incomes of workers in Vail. It is recognized the
free market provides limited opportunity for even the highest wage
earners to live and work in Town and it is necessary to have a full range
of employees in the community. Diverse housing opportunities for the
broadest range of employees will enhance the community.
H. Provide and plan for housing along with local and regional public
transportation.
The EHSP recognizes that these functions are intertwined and where
deed-restricted housing exists, there will be a demand for transportation
services. It is the goal of the Town to minimize overall transportation
costs by housing employees in proximity to their jobs, and to also
anticipate the projected costs of transportation (due to fuel and other
scarce resources) in the provision of deed-restricted housing elsewhere in
the region.
POLICY STATEMENTS
The Town of Vail will pursue three broadly described methods to achieve the
Town’s housing goal.
The Town will Impose Regulatory Requirements
Development will be required to address a portion of its housing
demand within the Town of Vail; and
New development and redevelopment will be required to address a
portion of its housing demand at the development site.
Development and Acquisition Initiated by the Town
To address employee housing needs beyond the regulatory
requirements for new development; and
To respond to the desire to promote a more diverse and vibrant local
community.
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Strategic Plan
Form Regional Partnerships
These efforts will address employee housing needs beyond the
regulatory requirements by actively seeking partnerships, including:
i. Public / Private, and
ii. Multi Jurisdictional.
These broad methods are further addressed in the Action Steps that are
described in the following section.
ACTION STEPS
The Town will continue to use tools already in place including:
Regulatory Requirements:
The “Linkage” or Commercial Jobs Generation Program
The Town will review the current linkage program to evaluate whether it
has been meeting the objectives of ensuring that new housing is being
created to house a portion of the employee demand that is being
generated by new commercial uses in the Town. At this time, no
immediate changes in the overall requirements of the program are
anticipated. However, the current requirement for new commercial
development to provide employee housing for at least twenty percent
(20%) of the employees generated may be reevaluated and the required
percentage may be changed as a result of the review, the areas of impact
may be modified, and the formulas for calculating job generation rates
may be further refined. Additionally, an updated Rational Nexus will need
to be completed on a periodic schedule. The Linkage Program provides
housing to “keep up” with new demand as it is generated.
Achieves Objectives A, C, E, F, and G.
The “Inclusionary” Program
The Town does not anticipate major changes to the Inclusionary Housing
program at this time. However, the current requirement to restrict 10
percent (10%) of new residential square footage in high density areas to
be employee housing with deed restrictions, may be reevaluated and the
required percentage may be changed as a result of the evaluation, and/or
13 Employee Housing
Strategic Plan
the areas (zone districts) of impact may be modified. The Inclusionary
Program provides housing to “keep up” with new demand as it is
generated.
Achieves Objectives A, C, E, F, and G.
Housing District Zoning Designation
The Town currently has a “Housing District” zoning designation. As an
action step to implement the Housing Plan, the Town will review the
requirements of this district to ensure that it is fully meeting its intended
purposes. That review will address the procedural requirements for the
Housing District, land use provisions including density, parking and design
standards, and provisions for density bonuses. The evaluation of the
Housing District will ensure the Housing District provides optimal
employee housing development.
Achieves Objectives B, D, E, F, and G.
Town Initiatives:
Buy-Downs to Generate Deed-restricted Units
The Town will actively pursue purchase of attractively priced units for
imposition of an appreciation capped deed restriction, and subsequent
resale. This technique for increasing the supply of permanently affordable
housing is known as a “buy down.” It is recognized that this program will
be highly market dependent, with limited applicability when the local
residential market is surging, and becoming more attractive at times when
there is a plateauing of prices. The Town will need to increase the
allocation of funds to underwrite the costs associated with purchasing,
deed restricting and reselling for-sale units. This is an opportunity to
provide diverse housing, to serve the full spectrum of employees. It is
important to update the parameters by which buy down units are
considered so each buy down unit meets the established goals. Further, it
is expected that there will be active involvement by the Housing Authority
in overseeing this program. The Buy-Downs program provides housing to
“catch up” with existing deficiencies and reduce market leakage.
Achieves Objectives B, D, E, F, and G.
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Strategic Plan
Employee Housing Units Exchange Program
The Town will conduct a review of the “dispersed housing units” that have
been created under the density bonus provisions allowed by Town Code
since 1982. It is estimated that 123 units were created under the existing
program, typically ranging in size from 300 to 500 square feet. It is
believed that many of these units are not being used to house employees
as anticipated by the program. Although these units are covered by
various types of deed restrictions, the requirements are not uniform and
in many cases are not meeting the objective of providing long-term
dispersed employee housing. The Town will evaluate the current program
and will consider a “deed restriction exchange program” as a part of this
overall effort. The program would likely permit, at the initiation of the
landowner, the exchange of small rental units for a larger for-sale, price
appreciation capped employee housing unit. Guidelines for the program
will be developed. It is expected that these standards will address
recommended size of units, location, homeowner’s fees and other aspects
of the program. Such a program has been recently tried in Vail. It is
believed that other dispersed employee units, not currently in use, could
be leveraged into permanently restricted units by using this technique; it
could represent an important element of this overall plan. The Units
Exchange Program is to increase the quality and the total quantity of
employee housing within the Town of Vail.
Achieves Objectives B, E, F, and G.
Incentive Zoning and Density Bonuses
The Town will consider workforce housing objectives in all review
processes that permit discretion. This means that the Town will work
actively with developers as a part of the Housing District, Special
Development District review processes and requested changes in zoning
to not only meet the requirements of existing code, but to look for
opportunities to go beyond code requirements to encourage additional
workforce housing to be created. As a part of these review processes the
Town will work actively with developers to create incentives to develop
housing that exceeds the minimal requirements contained in the code.
Additional density may be granted in selected locations through the
appropriate review processes, and fee waivers and subsidies may be
considered. The Incentives Zoning and Density Bonuses help Vail to
15 Employee Housing
Strategic Plan
“catch up” with existing deficiencies and add to the overall percent of
employees living within the Town of Vail.
Achieves Objectives B, D, E, F, and G.
Review Rezoning and Vacant Land Opportunities
The Town will regularly review existing codes and the vacant land
inventory to identify opportunities to modify current programs that further
support the goals of this Plan. The Review of Rezonings and Vacant Land
provides “catch up” opportunities to address existing deficiencies and add
to the overall percent of employees living within the Town of Vail.
Achieves Objectives B, D, E, F, and G.
Town Participation in Developments Providing Deed-Restricted
Housing
The Town is prepared to actively participate in, and will seek partners to
further the development of deed-restricted housing. Vail Commons,
Middle Creek, Buzzard Park and Miller Ranch (located near Edwards in
Eagle County) are four relatively large developments that have been
completed through active Town participation. The existing developments
serve households at different income levels. This has been, and will
continue to be an objective of the Town, to serve the broad spectrum of
need within the community rather than focusing on just a narrow category
of income or household type. The Town participation provides “catch up”
opportunities to address existing deficiencies and add to the overall
percent of employees living within the Town of Vail.
Achieves Objectives B, D, E, F, G, and H.
Explore Options for a Dedicated Funding Source for Employee
Housing Initiatives
The Town will explore options for a dedicated funding source to ensure
adequate and ongoing resources for employee housing initiatives. It is
recognized the Town will play an integral role in the creation of employee
housing and dedicated dollars will aid in these efforts. The Town may
pursue any of the following funding alternatives: a dedicated sales tax
increase, a dedicated mill levy increase, dedication of the Real Estate
Transfer Tax or any other funding source that may be identified. A
16 Employee Housing
Strategic Plan
dedicated funding source would provide “catch up” housing opportunities
for Vail workers.
Achieves Objectives B, D, E, F, G, and H.
Create an Existing Residential Conditions Base Line in the Town of
Vail
Conduct a comprehensive study of current units. Identify the type of
units that exist (i.e. studio, one-bedroom, etc.), each unit’s current use
(i.e. employee occupied, short-term rental, etc.), and the ownership of the
unit (i.e. owner-occupied, tenant occupied, etc.). This data will establish
the baseline against which future employee housing success will be
measured. The baseline conditions will support both “catch up” and
“keep up” efforts.
Achieves Objectives A, B, C, D, E, F, G, and H.
Monitor the Rate of Free Market Employee Occupied Homes
The Town will monitor the rate of free market homes occupied by local
workers, and deed-restricted homes, on a regular basis. Conversions of
free market residential units to second home owner units will be
considered in Vail’s evaluation of progress toward the goals identified in
this Plan. This monitoring will support both “catch up” and “keep up”
efforts.
Achieves Objectives B, E, F, and G.
Conduct a Demographics Survey of Current Vail Residents
In order to better understand the current demographics of the local
population it is necessary to conduct a local survey. This will provide the
Town with back ground information to consider in future housing policy
and development decisions to ensure the Town is maintaining a character
that is as diverse as it is today. This may occur in conjunction the Annual
Community Survey. This information will support “catch up” efforts.
Achieves Objectives A, B, D, E, F, and H.
17 Employee Housing
Strategic Plan
Establish a List of Essential Service Providers in the Town of Vail
Establish a list of essential service providers in the Town of Vail to
potentially partner with to ensure critical service workers live within the
Town of Vail. This information will support “catch up” efforts.
Achieves Objective D.
Host Personal Finance and/or Home Buyer Education
To encourage home ownership and create successful home owners it is
important to provide information and educational opportunities to
potential residents. This may also provide the encouragement current
renters or existing home owners may need to take the next step in the
housing market, freeing up their existing unit to house other employees.
This education may provide additional “catch up” opportunity.
Achieves Objectives B, D, E, and F.
Annual Review
I n o r d e r t o e n s u r e t h e E H S P i s a lways current and is responsive to
changing conditions, the Housing Authority shall review the EHSP annually
and changes shall be periodically recommended to the Town Council. The
purpose of these reviews shall be to ensure that progress on topics
related to employee housing is being maintained and that adjustments in
Objectives, Policies and Action Steps are made in a timely and specific
manner.
Achieves Objectives A, B, C, D, E, F, G, and H.
Regional Efforts:
In order to house employees associated with existing and anticipated
jobs, workforce housing will be required throughout the County as well as
in the Town. Vail will work actively with Eagle County officials and other
municipalities to look for regional solutions to providing housing. Further,
the need to provide transit services along with housing is also identified.
When developing housing for Vail employees in Down-Valley locations, the
cost of transit services will be considered in evaluations.
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Strategic Plan
While furthering regional housing is an objective of the Town, it will occur
in concert with efforts in Vail, and in-Town deed-restricted housing will be
a priority. The Town believes that there are a finite number of
opportunities within Vail and these will be explored and pursued; Down-
Valley development will not be undertaken if it results in not being able to
participate in an opportunity within the Town’s boundary.
Partnering opportunities for Down-Valley development will occur through
partnerships that may include not only the County, but also the Town of
Avon, Town of Minturn, Eagle County School District, the U.S. Forest
Service, and potentially private developers. The Dowd Junction area and
the Village at Avon are identified as particular areas of interest where
development opportunities are to be explored.
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Strategic Plan
IMPLEMENTATION MATRIX
ACTION STEP
WHO
IMPLEMENTS WHEN
ESTIMATED
COST
PROPOSED
PRIORITY
Establish and Fund
VLHA Operating
Budget
Town Council and
VLHA
4th Quarter
2008
To Be
Determined A
Establish Baseline
"Existing
Conditions" for All
Units
Town Council and
VLHA 2009 $20,000 A
Monitor Existing
Conditions for All
Units
Town Council and
VLHA
1st Quarter of
Each Year
(2010) $5,000 A
Monitor Rental and
Vacancy Rates Eagle County Continuous None A
Conduct Housing
Needs Assessment
In conjunction with
Eagle County 2010 $10,000 A
Update Fee-in-Lieu
for Commercial
Linkage &
Inclusionary Zoning
Community
Development Dept
and Consultant
1st Quarter of
Each Year $2,000 A
Updated Rational
Nexus Study Town of Vail
Every Five
Years (2011) $15,000 A
Monitor Total
Number of Jobs in
Town of Vail Town of Vail
1st Quarter of
Each Year $2,000 A
Host Finance/
Home Buyer
Education Classes VLHA Two Per Year $500 A
Buy Down Units
Town Council and
VLHA Continuous $1,000,000 / year A
Establish Buy Down
Unit Criteria
Town Council and
VLHA
4th Quarter
2008 None A
Develop New For-
Sale Housing at
Chamonix
Town Council and
VLHA 2010
Potentially more
than the value of
the land A
20 Employee Housing
Strategic Plan
ACTION STEP
WHO
IMPLEMENTS WHEN
ESTIMATED
COST
PROPOSED
PRIORITY
Develop Additional
Rental Housing at
Timber Ridge
Town Council and
VLHA 2011
Potentially the
value of the land A
Establish an EHU
Exchange Program
Town Council -
Com Dev Dept -
VLHA
Recommendation
4th Quarter
2008
$10,000 for legal
review A
Implement the EHU
Exchange Program
Com Development
Dept. and VLHA Continuous None A
Review &
Potentially Modify
Commercial Linkage
Town Council -
Com Dev Dept -
VLHA
Recommendation
1st Quarter of
Each Year None A
Review &
Potentially Modify
Inclusionary Zoning
Town Council -
Com Dev Dept -
VLHA
Recommendation
1st Quarter of
Each Year None A
Identify
Land/Development
Opportunities
Town Council -
Com Dev Dept -
VLHA
Recommendation
2nd Quarter of
Each Year None A
Prioritize
Land/Development
Opportunities
Town Council -
Com Dev Dept -
VLHA
Recommendation
2nd Quarter of
Each Year
Acquisition of
Property A
Propose
Development
and/or Rezoning
Town Council and
VLHA
2nd Quarter
of Each Year Development B
Review Housing
Zone District
Town Council -
Com Dev Dept -
VLHA
Recommendation
2nd Quarter
of Each Year None B
Establish Incentive
Zoning to Ensure
No Net Loss of
Rental Housing
Town Council -
Com Dev Dept -
VLHA
Recommendation
2nd Quarter
of Each Year None B
21 Employee Housing
Strategic Plan
ACTION STEP
WHO
IMPLEMENTS WHEN
ESTIMATED
COST
PROPOSED
PRIORITY
Pursue a Dedicated
Funding Source
Town Council and
VLHA
Begin 1st
Quarter 2009
None in 2009
Marketing in
2010 B
Monitor Free Market
Real Estate
Transactions
VLHA and
Consultant
1st Quarter of
Each Year $5,000 B
Establish List of
Essential Service
Providers
Town Council and
Town Staff
4th Quarter
2008 None C
Create Partnerships
with Essential
Service Providers
Town Council and
VLHA Continuous None C
ROLES AND RESPONSIBILITIES
Roles and Responsibilities – The provision of deed-restricted housing is viewed as
a partnership between various boards within the Town, each having important
roles and responsibilities. As such, it is imperative that communications be
established and maintained between boards to achieve the goal and objectives
that are stated in this Plan. Efforts will be made to define, and periodically
refine, the roles and associated communications between the bodies identified
below.
The Town Council shall act in accordance with Town codes and shall fulfill their
decision-making functions as identified by local ordinances. Land Use
Regulations typically stipulate the review procedures to be followed in reviewing
a proposed development. Ultimately, most reviews require an affirmative
decision by the Town Council. Therefore, the Council will be the ultimate
decision-making body for developments that require Council review.
The Planning and Environmental Commission and the Design Review
Board also play an important development review role. These two boards will
review development proposals, consistent with the requirements of codes and
ordinances, to ensure that development is in compliance.
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Strategic Plan
The Vail Housing Authority (V.L.H.A.) plays a critical role in ensuring that
housing for long-term residents and seasonal employees is available in the Town.
This in turn, enhances the quality of life for local residents, and improves the
economic viability of the area. The V.L.H. A. mission:
The V.L.H. A. will play an advisory role to the Town Council and the Planning and
Environmental Commission on matters related to housing policy and
development. The Authority will use this Housing Plan as a working document to
guide future efforts. As identified in the EHSP, the Authority will work to carry
out the Action Steps over the next three years. The Authority’s priorities will be
those contained in the EHSP as it is adopted, and as it may be modified following
subsequent annual reviews.
23 Employee Housing
Strategic Plan
GLOSSARY
The following definitions are applicable for the terms used in this Plan.
Area Median Income (AMI) Limits – most communities establish income limits for the
programs they administer based on the area median income (AMI) for the area according to
household size, which are adjusted annually by the Department of Housing and Urban
Development (HUD). Four different income categories are defined for various programs and
policies:
1. Extremely low-income, which is less than 30 percent of the median family income;
2. Very low-income, which is between 30 and 50 percent of the median family income;
3. Low-income, which is between 50 and 80 percent of the median family income;
4. Middle income, which is between 80 and 120 percent of the median family income; and
5. Above middle income, which is over 120 percent of the median family income.
1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% $17,050 $19,500 $21,900 $24,350 $26,300 $28,250 $30,200 $32,150
50% $28,400 $32,450 $36,500 $40,550 $43,800 $47,050 $50,300 $53,550
60% $34,080 $38,940 $43,800 $48,660 $52,560 $56,460 $60,360 $64,260
80% $41,900 $47,900 $53,850 $59,850 $64,650 $69,450 $74,200 $79,000
100% $56,800 $64,900 $73,000 $81,100 $87,600 $94,100 $100,600 $107,100
120% $68,160 $77,880 $87,600 $97,320 $105,120 $112,920 $120,720 $128,520
140% $79,520 $90,860 $102,200 $113,540 $122,640 $131,740 $140,840 $149,940
160% $90,880 $103,840 $116,800 $129,760 $140,160 $150,560 $160,960 $171,360
Catch-Up Housing – Housing needed to “catch-up” to current deficient housing
conditions. In this Plan, catch-up housing needs are defined by current resident households
reporting housing problems (overcrowded, cost-burdened and/or living in substandard
housing conditions), current renters and owners looking to purchase a home and in-
commuters that would like to move to Vail. Catch-up housing is generally addressed
through local city development initiatives, non-profits and housing groups and public/private
partnerships.
Housing Continuum, The – As illustrated below, it is possible to estimate the number of
resident households in the Town of Vail at various income levels. Vail’s planning is based on
addressing the needs of households of different incomes, recognizing that there is a need to
ensure housing for a diversity of households.
24 Employee Housing
Strategic Plan
Over 140% AMI
31.8%
<=50% AMI
401 HH/16.4%
50-80% AMI
345 HH/14.1%
80-100% AMI
425 HH/17.4%
100-140% AMI
496 HH/20.3%
<=50% AMI
Max Rent $913
Max Price $124,796
50-80% AMI
Max Rent $1,346
Max Price $180,238
80-100% AMI
Max Rent $1,825
Max Price $241,432
120-140% AMI
Max Rent $2,738
Max Price $334,741
2007 Vail Households
50% AMI
$36,500
80% AMI
$53,850
100% AMI
$73,300
140% AMI
$109,500
Over 140% AMI
Rent Over $2,738
Price Over $334,741
EXISTING DEED RESTRICTED
EMPLOYEE HOUSING
<=50% AMI
Max Rent $913
Max Price $124,796
50-80% AMI
Max Rent $1,346
Max Price $180,238
80-100% AMI
Max Rent $1,825
Max Price $241,432
100-140% AMI
Max Income $109,500
Max Rent $2,738
Max Price $334,741
2007 Vail Households
Over 140% AMI
Income Over $109,500
Rent Over $2,738
Price Over $334,741
Middle Creek
Rent 142 Units
Less than 60% AMI
Buzzard Park
Rent 24 Units
Town Employee
Typically less than 120% AMI
Vail Commons, Red Sandstone, North Trail
For Sale 77 Units
100% AMI or less
Miller Ranch
For Sale 282 Units
60-120% AMI
50% AMI
$36,500
80% AMI
$53,850
100% AMI
$73,300
140% AMI
$109,500
Inclusionary Zoning – requires a minimum percentage of residential development be
provided to serve local employees as part of new residential developments (10 percent in
Vail). Inclusionary zoning is a housing production obligation based on the community’s
need for employee housing as related to many factors, including a decreasing developable
supply of land, rising home values, insufficient provision of housing affordable to residents
by the market, etc., in addition to any direct employee generation impacts of development.
Keep-Up Housing – Housing units needed to keep-up with future demand for housing. In
this Plan, keep-up housing needs focuses on new housing units needed as a result of job
growth in Vail and new employees filling those jobs. Keep-up housing is often addressed by
the existing free-market, as well as regulatory requirements or incentives to produce
housing that is needed and priced below the current market.
25 Employee Housing
Strategic Plan
Levels of Homeownership – When discussing affordability of properties by Area Median
Income (AMI) level (defined above) and the types of homes households among different
AMI groups are seeking; reference is made to a couple different stages of homeownership.
This includes:
1. Entry-level ownership/first-time homebuyers: These are households typically earning in
the lower to middle income range. In Vail, these are households earning 50 to 100
percent of the AMI. These include households that currently rent (or otherwise do not
own a home) and are looking to purchase their first home.
2. Move-up buyers: These are households earning in the middle to upper income range
(about 100 to 120 percent AMI or higher) that may currently own a home and are
looking to purchase a new or different home for a variety of reasons (relocating,
growing family (e.g., having children), shrinking family (e.g., empty-nesters), etc.).
Mean – the average of a group of numbers, which is the sum of all the data values divided
by the number of items.
Median – the middle point in a data set.
26 Employee Housing
Strategic Plan
RESOLUTION NO. 20
Series 2008
A RESOLUTION ADOPTING THE TOWN OF VAIL EMPLOYEE HOUSING STRATEGIC
PLAN; AND SETTING FORTH DETAILS IN REGARD THERETO.
WHEREAS, the Town of Vail (the “Town”), in the County of Eagle and State of Colorado
is a home rule municipal corporation duly organized and existing under the laws of the State of
Colorado and the Town Charter (the “Charter”); and
WHEREAS, the Town has determined that no less than thirty percent (30%) of Vail’s
workforce should be provided deed restricted employee housing within the Town limits; and
WHEREAS, the Council has determined that in order to achieve the established goal it is
critical to create an employee housing strategic plan establishing and clarifying the objectives
and action steps essential to achieve the stated goal; and
WHEREAS, the Vail Local Housing Authority and Council developed the Employee
Housing Strategic Plan over a period of six months that outlines the goal, objectives and action
steps; and
WHEREAS, the Vail Economic Advisory Committee provided input and direction on the
Employee Housing Strategic Plan at their May 13, 2008, and June 10, 2008, meetings; and
WHEREAS, the Planning and Environmental Commission provided input and direction
on the Employee Housing Strategic Plan at their August 25, 2008, Public Hearing; and
WHEREAS, the Council supports the implementation of the Vail Employee Housing
Strategic Plan; and
WHEREAS, the Employee Housing Strategic Plan will direct policy and budget decisions
in order to achieve the community’s stated goal; and
WHEREAS, it is the intention of the Council and the Housing Authority to implement the
Employee Housing Strategic Plan over the next three years.
NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF
VAIL, COLORADO:
1. The Council hereby approves the Town of Vail Employee Housing Strategic Plan,
dated September 2, 2008, attached hereto as Exhibit A.
2. The Council hereby finds:
A. That the Employee Housing Strategic Plan is consistent with the applicable
elements of the adopted goals, objectives and policies outlined in the Vail
Comprehensive Plan and is compatible with the development objectives of
the Town; and,
27 Employee Housing
Strategic Plan
B. That the Employee Housing Strategic Plan furthers the general and specific
purposes of Zoning Regulations; and,
C. That the Employee Housing Strategic Plan promotes the health, safety,
morals, and general welfare of the Town and promote the coordinated and
harmonious development of the Town in a manner that conserves and
enhances its natural environment and its established character as a resort
and residential community of the highest quality
3. This Resolution shall be effective immediately upon adoption.
INTRODUCED, READ, APPROVED AND ADOPTED this 2nd day of September, 2008.
______________________________
Richard D. Cleveland, Town Mayor
ATTEST:
Lorelei Donaldson, Town Clerk
28 Employee Housing
Strategic Plan
PROCESS TIMELINE
Vail Town Council
M a y 6 , 2 0 0 8 W o r k S e s s i o n
Affirm housing goals and purpose of the EHSP
Review proposed actions and timeline
J u l y 1 , 2 0 0 8 W o r k S e s s i o n
July 15, 2008 Special Work Session
Identify and affirm objectives and action steps
Confirm overall direction of the EHSP
August 19, 2008 Work Session
Identify and affirm the SWOT analysis
Affirm overall direction of the EHSP
September 2, 2008
Adopt the Town of Vail Employee Housing Strategic Plan
Planning and Environmental Commission
August 25, 2008 Work Session
Provide feedback on the EHSP
Vail Local Housing Authority
March 24, 2008 VLHA Work Session
Met with consultant (Chris Cares)
Dusted off previous work towards a TOV Strategic Plan
April 10, 2008 VLHA Work Session
Review and update proposed actions and timeline
April 24, 2008 VLHA Work Session
Further refine actions and timeline for Council meeting
May 13, 2008 Vail Economic Advisory Council
Discussion of Housing Objectives
M a y 1 5 , 2 0 0 8 V L H A W o r k S e s s i o n
29 Employee Housing
Strategic Plan
June 10, 2008 Vail Economic Advisory Council
Further discussion of Housing Objectives
June 10, 2008 VLHA Work Session
June 24, 2008 VLHA Work Session
J u l y 8 , 2 0 0 8 V L H A W o r k S e s s i o n
July 22, 2008 VLHA Work Session
S W O T A n a l y s i s
August 12, 2008 VLHA Work Session
S W O T A n a l y s i s
August, 2008 Meet with Local Employers
August 26, 2008 VLHA Work Session
Review Planning Commission feedback
Implementation Matrix Review