What they're doing about affordable housing in Vail

9NEWS @ 4.9/8/2016

VAIL - In the always busy Vail Community Development Department, Director George Ruther says the town has just come up with some big plans.

“We decided to take a bold step and try something that hasn’t been tried in the past,” he said.

The idea? Greatly increasing the number of affordable deed-restricted properties in town, spending the next 10 years buying 1,000 additional deed-restricted properties.

It’s property the town says it needs to buy, because since 2010, only one in 10 homes that have been bought have been sold to a full-time resident.

The goal is to keep people who work in Vail living in Vail.

They plan to spend $3.7 million on deed-restricted properties in 2017 and up to $5 million a year after that.

Employers will be able to buy properties for their employees, and people who work more than 30 hours a week in Vail will also be eligible – meaning George and his department will be even busier for the next decade.

“The affordable housing issue has kept us busy the last 10 years, and I suspect it will keep us busy for the next 10 years as well,” Ruther said.
 

Copyright 2016 KUSA


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