HomeMy WebLinkAbout2024-13 A Resolution Adopting the 2024 Town of Vail Housing Policy StatementsRESOLUTION NO. 13
SERIES 2024
A RESOLUTION ADOPTING THE 2024 TOWN OF VAIL HOUSING POLICY
STATEMENTS
WHEREAS, the Vail Town Council has adopted the vision “To Be The Premier
International Mountain Resort Community”;
WHEREAS, through Resolution No. 29, Series 2016, the Town Council adopted
Vail Housing 2027, "A Strategic Plan for Maintaining and Sustaining Community through
the Creation and Support of Resident Housing in Vail" (the "Plan");
WHEREAS, the single goal of the Plan is for “The Town of Vail to acquire 1,000
additional resident housing deed-restrictions by the year 2027;
WHEREAS, the Town of Vail Community Survey results indicate the availability
and affordability of housing remains the most critical issue facing the Vail community;
WHEREAS, the Vail Town Council previously adopted the 2018 Town of Vail
Housing Policy Statements which have served to yield significant housing solutions for
the Vail community;
WHEREAS, the Vail Town Council has directed an update to the statements to
reflect current conditions and projected future needs; and
WHEREAS, through the adoption of updated housing policy statements, it is the
Vail Town Council’s intent to articulate the approaches the Town will take to realize its
vision, achieve its housing goal, and address the most critical issue…housing…facing the
Vail community.
NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE
TOWN OF VAIL:
Section 1. The Vail Town Council hereby adopts the following housing policy
statements (the ‘2024 Town of Vail Housing Policy Statements’):
#1 Housing IS Infrastructure - Deed-restricted homes are critical infrastructure in
Vail.
#2 Housing Partners – We use public/private partnerships and actively pursue local
and regional solutions to increase the supply of deed- restricted homes.
#3 Private Sector Importance – We foster a proactive and solutions- oriented
environment that promotes private sector investment to create deed-restricted
homes.
#4 Leverage Financial Strength – We take an entrepreneurial approach and use
our financial strength and acumen to acquire deed-restrictions.
#5 Breakdown Barriers – We align our land use regulations, building and energy
conservation codes, and administrative procedures to achieve our vision and
housing goal, and development applications are thoroughly, timely and efficiently
reviewed….getting to “yes” is our shared objective.
#6 Funding Creates Deed-Restrictions – We pursue a predictable, consistent, and
reliable sources of funding to obtain deed-restrictions and maintain the Town’s
housing programs, including grants, low interest loans, tax exempt bonds, and
similar sources of municipal financing. We do this in partnership with the Vail Local
Housing Authority to capitalize on the debt capacity of the Authority and minimize
the Town’s exposure to financial risk.
#7 People Promote Community – We ensure opportunity and access to the Town’s
housing programs and initiatives through a clear, equitable, and easy to administer
process for housing selection.
#8 No Net Loss - No net loss of resident-occupied, deed-restrictions.
#9 Keep Up With Demand - New development, both residential and commercial, is
obligated to mitigate its incremental impact on the demand for resident-occupied,
deed-restricted homes. Payment in lieu may be needed at times, is but the least
preferred method of mitigation.
#10 Deed Restrictions Benefit Vail Businesses – Preference to leasing and
ownership of deed-restricted homes is granted to employees and employers of
businesses located within the municipal boundaries of the Town of Vail.
#11 Full Range of Home Options – We pursue housing solutions that provides for
the continuum of housing needs of all residents of the Vail community, including
both higher and lower density residential developments for varying area median
income wage earners.
#12 Funding is Policy – The Vail Town Council will fund housing opportunities and
solutions as deed-restricted homes are an investment in the greater Vail community.
INTRODUCED, PASSED ANDADOPTED at a regular meeting ofthe Town
Council of the Town of Vail held this 19th day of March 2024.
Travis Coggin, Mayor
ATTEST:
Stephanie Bibbens, Town Clerk