HomeMy WebLinkAboutEmployee Housing calcsReal Estate Office:
A proposed real estate office is estimated to generate 5.1 Employees per 1,000 [square] feet of net floor area (Ref. Section 12-23-2, Vail Town Code). That number
of employees is then multiplied by the required mitigation of 20% (Ref. Section 12-23-2, Vail Town Code). That percentage is then multiplied by the required fee of $131,385 per employee
(Ref. Resolution 10, Series of 2007, adopted and effective April 3, 2007).
Actual Numbers: Proposed subject area = 940 sf (94% of 1,000). Therefore, 94% of 5.1 = 4.794 employees x
20% = .9588 x $131,385 = $125,971.94.
Two Accommodation Units (existing):
An accommodation unit is estimated to generate 0.7 employees per net unit. Using same calculation above:
0.7 x 2 units = 1.4 employees x 20% = .28 x $131,385 = $36,787.80.
Total:
Real Estate Office fee ($125,971.94) minus the existing accommodation units fee ($36,787.80) = $89,184.14.