SLIDE 1
Telluride region’s commitment to deed-restricted housing began
in the late 1970’s and 1980’s with specific requirements on large- scale developments and incentives by the Town of Telluride and San Miguel County
Telluride Affordable Housing INTERGOVERNMENTAL WORKSESSION - - PowerPoint PPT Presentation
Telluride Affordable Housing INTERGOVERNMENTAL WORKSESSION - - PowerPoint PPT Presentation
Telluride Affordable Housing INTERGOVERNMENTAL WORKSESSION November 12, 2018 Telluride regions commitment to deed -restricted housing began in the late 1970s and 1980s with specific requirements on large - scale developments and
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SLIDE 3
Telluride region’s commitment to deed-restricted housing began
in the late 1970’s and 1980’s with specific requirements on large- scale developments and incentives by the Town of Telluride and San Miguel County
In 1994 Town of Telluride approved comprehensive, affordable
housing mitigation requirements on new development concurrent with a ½ cent affordable housing sales tax approved by voters
SLIDE 4
Telluride region’s commitment to deed-restricted housing began
in the late 1970’s and 1980’s with specific requirements on large scale developments and incentives by the Town of Telluride and San Miguel County
In 1994 Town of Telluride approved comprehensive, affordable
housing mitigation requirements on new development concurrent with a ½ cent affordable housing sales tax approved by voters
- Mitigation requirements have been refined over time, most recently an
increase in affordable housing mitigation fees in Feb. 2018
SLIDE 5
Telluride region’s commitment to deed-restricted housing began
in the late 1970’s and 1980’s with specific requirements on large- scale developments and incentives by the Town of Telluride and San Miguel County
In 1994 Town of Telluride approved comprehensive, affordable
housing mitigation requirements on new development concurrent with a ½ cent affordable housing sales tax approved by voters
- Mitigation requirements have been refined over time, most recently an
increase in affordable housing mitigation fees in Feb. 2018
- New 2-Mill Affordable Housing Property Tax Ballot Measure
November 2018
SLIDE 6
Current Mitigation and Incentive Programs produce about
approximately 4 units/yr., and an estimated $300-400,000 in mitigation fees
½ Sales Tax produces approximately $761,000 /yr. 2-Mil Property Tax would produce approximately $554,000/yr.
SLIDE 7
Unit Production
Mitigation/Incentive programs (104 units) Town-Constructed/Financed (247 units + 46 boarding house rooms)
variety of unit types (single family, multi-family, apartment, boardinghouse,
tiny homes)
rental and ownership most units price and/or rent- capped variety of financing approaches and and partnerships (public/private,
public/public)
Public/Private Partnerships
Under Review
Public/Public Partnerships
Sunnyside Lot (MOU Town/County Partnership)
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Current/Recently Completed Projects
Entrada Project
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Gold Run with SMC
SLIDE 12
Spruce House
SLIDE 13
Recently Completed
Virginia Placer Project (completed May 2018)
19 Rental Apartments, 3 Rental Tiny Houses, 46-Bed Boarding House
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Under Construction
SMPA/Four Corners Project
10 Owner-Occupied Condominium Units + Parking + Art School
SLIDE 15
Under Construction
Lot B North Project
16 Owner-Occupied Condominium Units
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SLIDE 17
Policy
Where we are: Approximately 32% of County population reside in deed restricted
housing
Approximately 47% of the Telluride Region’s population reside in
deed restricted housing
SLIDE 18
Town Master Plan Goals
SLIDE 19
Town Master Plan Goals
The Town uses a Goal of housing 60%-70% of
the region’s employees within the Telluride region (Telluride, Mountain Village, nearby portions of San Miguel County).
Having employees reside close to places
employment underpins several important public policy objectives such as Preservation of Community, Stable Employment Base, Reduction in Transit Demands/Reduced Carbon Footprint, etc.)
SLIDE 20
Master Plan envisions the Town building approximately 20
units/year, and continuing land banking and mitigation/ incentive programs, over a 20-year planning horizon to achieve the targets and goals in the Master Plan.
For modeling purposes, Town forecast assumes continued
growth in job rate, new units will be developed through mitigation/incentives programs and on vacant sites reserved or required for deed restricted housing, continued occupancy of some free market units by local employees, and reductions in the supply of free market housing in Telluride due to “gentrification”
SLIDE 21
2018 Housing Needs Assessment
Recent Housing Needs Assessment estimated the current shortfall
- f 441 units, with an additional 324 Units required over the next 10
years.
Housing Needs Assessment indicated approximately 288 units
(existing shortfall + new job generation) are a result of needs related to the Town of Telluride.
SLIDE 22
Existing Housing Need by Employment Distribution, 2018
SLIDE 23
Future Housing Need by Employment Distribution, 2016-2026
SLIDE 24
Telluride generally uses the Telluride Affordable Housing
Strategy Plan Site Evaluation Matrix to guide decisions regarding sites for future housing development
Town can potentially achieve approximately 200-300 additional
housing units within the Town, without substantially comprising
- ther Town needs.
SLIDE 25 5/8/2017
Application of Criteria
Comment Key
Telluride Regional Housing Strategy
Row color corresponds to MAP
DRAFT: 5/8/17
Net Gain in Population [1] (3X) Site suitability for range of targeted unit types [2] (2X) Potential for
- ther
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