At its monthly meeting on Thursday, March 19, the Mountain Village Town Council will consider approving and issuing a request for proposals (RFP) for the potential sale of Village Court Apartments (VCA), the 222-deed restricted units adjacent to the Double Cabins Ski Run and Gondola Parking Garage in Mountain Village.
The draft RFP outlines a detailed list of requirements for potential purchasers of the housing community that are set up to make sure any potential sale continues affordable rental rates and improves maintenance and quality of living standards for VCA residents.
Over the past few years, we have received numerous unsolicited offers to purchase our affordable housing complex and we felt it was necessary to explore a formal and transparent RFP process for receiving offers,” said Mountain Village Mayor Laila Benitez. “Town Council has a fiscal responsibility to seek and explore long-term solutions that benefit our entire community.”
The proposed RFP requires VCA to continue to be maintained for qualified employees within the boundaries of the Telluride R-1 School district as required by the complex’s 1997 deed restriction, which will remain on the property in perpetuity.
Any potential buyer would be required to maintain rental rates affordable and they would be tied to fair market rents and average media income.
The RFP also outlines several requirements for qualified buyers including having a strong track record of operating and maintaining housing complexes and demonstrates a commitment to developing phase IV of VCA.
“This RFP process does not commit us to sell the property, and at this stage, we are only investigating offers,” said Town Council Member Patrick Berry. “The town’s priority is to provide VCA residents with the best standard of living, which may or may not result in a sale.”
Three community forums have been scheduled for VCA residents and other community members to voice their concerns or questions with town council members. Those forums are scheduled as follows:
- Friday, March 13, 12-2 p.m., third floor of the Municipal Building, 411 Mountain Village Blvd.
- Monday, March 16, 5-7 p.m., Mountain Village Town Hall, 455 Mountain Village Blvd.
- Monday, March 23, 5-7 p.m., Mountain Village Town Hall, 455 Mountain Village Blvd.
There will also be an opportunity for public comment on Thursday, March 19 at the town council meeting. The consideration is scheduled for 10 a.m.
If council approves the RFP at its March meeting, the process is expected to take six to eight months, and residents will be updated if and when significant new information is available.
“We want to reassure you that the RFP process ensures that VCA will only be sold if a qualified buyer can prove their commitments that VCA will be maintained and operated at or above its current standards and that VCA will remain deed-restricted in perpetuity,” Benitez said.
A draft of the RFP and more information can be found online at townofmountainvillage.com/VCARFP.