The Town of Mountain Village is taking significant measures to incentivize new deed-restricted construction and to encourage maintenance and improvements to existing deed-restricted units.
In its monthly October meeting, the Town of Mountain Village Town Council unanimously voted to waive all planning, development and building permit fees for deed-restricted housing units effective Jan. 1, 2019.
Michelle Haynes, planning and development services director states, “Planning and building permit activity for deed-restricted housing has been minimal compared to free market activity over the past few years.”
“Telluride Ski and Golf last opened 30 apartments in the Meadows called Meadow View Apartments in 2017, and there is one deed-restricted detached condominium in the Boulders currently in design review,” Haynes continued. “As the Town of Mountain Village has 539 built deed-restricted units, the largest number in the region, we continue to explore ways to advocate for affordable housing.”
By waiving town fees, the town aims to encourage owners of deed-restricted units to maintain existing units and offer greater financial incentive to construct deed-restricted units on remaining deed restricted properties.
“The Town had some current incentives in place such as waiving the road impact fee and reduced water and sewer tap fees,” Haynes said. “However, after a review of the existing fee schedule, Haynes stated, “we felt we could do more, and the Town Council unanimously supported this direction.”
For example, a free market building permit with a $1 million valuation would cost approximately$45,000 for the building permit plus $10,000 for the water and sewer tap fees and $3,500 for the design review application. The same permit for a deed-restricted property would cost only $4,000 for the building permit, which is the cost of county taxes, $5,000 for the water and sewer tap fee and no fee for design review.
“The only fee we cannot waive are taxes paid to the county,” stated Haynes, “which constitutes the $4,000 permit fee for a deed-restricted property. By incentivizing, the town hopes to see new construction, remodels, maintenance, and repair.” Haynes said.
For program information, please contact Planning and Development Services Director, Michelle Haynes by email [email protected], by phone (970) 239.4061 or by visiting townofmountainvillage.com/building-development.