Mountain Village Town Council to revisit a request for proposals for potential sale of Village Court Apartments

At its virtual monthly meeting on Thursday, June 18, 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.

This discussion was originally scheduled for March 19, 2020, but was put on hold due to COVID-19 public health orders as Mountain Village staff and council began to adapt to conducting virtual meetings while allowing for public participation.

The draft RFP (which has been updated with a new proposed timeline) 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 proposed 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. A Spanish interpreter will be available at all three forums.

Those forums are scheduled as follows:

• Tuesday, June 9, 5 p.m. Zoom information
• Wednesday, June 10, 11 a.m. Zoom information
• Monday, June 15, 5 p.m. Zoom information

Zoom information is also available online at townofmountainvillage.com/VCARFP.

There will also be an opportunity for public comment on Thursday, June 18 at the town council meeting. Agenda with Zoom log-in information and approximate time for this item will be posted online by June 11.

If council approves the RFP at its June meeting, the process is expected to take six to seven months, and residents will be updated if and when significant new information is available.

“We once again want to assure 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.