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
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Memorandum
To: Vail Town Council
From: Vail Local Housing Authority
George Ruther, Housing Director
Date: March 19, 2024
Subject: Resolution No. 13, Series of 2024, a resolution adopting the 2024 town
of vail housing policy statements, and setting forth details in regard
thereto.
____________________________________________________________________________
I. Executive Summary
The Vail Town Council and the Vail Local Housing Authority have committed to work
collaboratively, as Vail Home Partners, to ensure the Vail community realizes its vision to be the
Premier International Mountain Resort Community. While many factors contribute to achieving
this vision, maintaining and sustaining community through the creation of resident-occupied,
deed-restricted homes, and ensuring a continuum of housing options for local Vail residents, are
two of the top priorities and critical actions Vail Home Partners can take to achieve the vision.
To do, a set of clearing articulated housing policy statements is needed to guide decision-
making and establish a framework for action. Resolution No. 13, Series of 2024, is intended to
accomplish that objective.
II. Purpose
The purpose of this memorandum is to present Resolution No. 13, Series of 2024 and forward
the recommendation of the Vail Local Housing Authority on proposed updates to the adopted
housing policy statements. The purpose of the updated policy statements is to:
update and reaffirm support of the Town’s housing goals and expectations,
express which methods the Town and its partners will pursue to achieve the adopted
housing goal of acquiring 1,000 new deed restrictions by the year 2027,
inform decision making that results in the implementation of housing solutions,
articulate the important role of housing in addressing the economic and environmental
sustainability of the Vail community, and
ensure that there is an adequate supply of housing all the entire continuum of housing
near employment, transportation, and community facilities, such as schools.
The desired outcome of this initiative is to update, and reaffirm, by resolution of the Vail Town
Council, housing policies statements that continue to support the increase in the supply of
resident-occupied, deed-restricted homes which results in the Town realizing its vision to be the
premier international mountain resort community and achieve its goal of acquiring 1,000 net
new deed restrictions by the year 2027.
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III. Background
On July 17, 2018, the Vail Town Council approved Resolution #30, Series of 2018, a resolution
adopting the 2018 Town of Vail Housing Policy Statements and setting forth details in regard
thereto (attached). Six years have passed since the adoption of the ten housing policy
statements. Prior to 2018, the Town’s adopted housing policies had remained unchanged for
nearly three decades. In that time, policy makers have changed, economic conditions have
shifted, housing markets have evolved, the gap in the housing demand has widened, and nearly
825 new deed restricted homes have been created or are in the pipeline for completion by early
2027. These results can be directly attributed to the articulation of clear and concise housing
policy direction.
On February 27, 2024, the Vail Local Housing Authority met to review and discuss the proposed
updated housing policy statements. Following discussion, the Authority members
recommended adding language to Policy Statement #6 further acknowledging the ability of the
Vail Local Housing Authority to issue debt and secure funding for housing developments,
thereby lessening the debt burden on the Town of Vail. With that condition in place, the Vail
Local Housing Authority voted 4-0 to forward a recommendation of approval of the updated
housing policy statements to the Vail Town Council.
On March 5, 2024, the Vail Local Housing Authority and the Town of Vail Housing Department
presented recommended updates to the previously adopted 2018 Housing Policy Statements.
Following discussion, the Vail Town Council requested several minor revisions to the proposed
housing policy statements and instructed the Authority and Town staff to return on March 19,
2024, with a resolution for adoption. Resolution No. 13, Series of 2024, has been drafted to
include the town council’s requested revisions.
IV. Roles and Responsibilities
The roles and responsibilities of the Vail Town Council, the Vail Local Housing Authority, and
the Vail’s Housing Department staff are uniquely different when it comes to achieving the
Town’s vision and adopted housing goal. In sum, the roles are responsibilities are:
Vail Town Council – policy and final decision maker.
Vail Local Housing Authority – technical adviser and consultant
Housing Department – administration and implementation
The Vail Town Council shall be the final decision maker on these important policy matters.
The Housing Authority’s role, as a commission appointed by the Vail Town Council, and further
authorized by the State of Colorado (C.R.S. 29-4-209), among other matters, is to consult and
advise the Vail Town Council on housing-related matters including forwarding recommendations
on each of, or all the following topics:
housing policy
implementation strategy
land use regulation
negotiation strategy
program administration
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funding options
project management
financing alternatives
The Housing Department works at the direction of the Vail Town Council and Town
Administration to administration and implement the policies and objectives of the Vail Town
Council.
The table below highlights the varying roles and responsibilities:
Vail Town Council Vail Local Housing Authority Vail Housing Department
Set policy Forward
recommendations
Administer programs
Direct staff Lead special projects Manage projects
Establish priorities Oversee programs Verify code compliance
Authorize funding Conduct research Implement day-to-day
operations
Incur debt Commission reports and
studies
Oversee budgets
Acquire property Advise decision makers Staff boards
Identify critical
actions
Issue debt free of
TABOR
Adopt budgets Propose Initiatives
V. Recommendation
The Vail Local Housing Authority and the Town of Vail Housing Department recommend that the
Vail Town Council adopts Resolution No. 13, Series of 2024, as presented.
As presented, the housing policy statements reflect the revisions directed by the Vail Town
Council on March 5, and the housing policy statements have proven to be an invaluable tool in
the Town’s pursuit to achieve its vision to be the premier international mountain resort
community and in realizing its adopted housing goal of acquiring 1,000 new deed restrictions by
the year 2027.