The Town of Mountain Village is taking significant measures to incentivize new deed-restricted workforce housing construction for the town and to encourage maintenance and improvements to existing deed-restricted units within town limits.
In 2018, Mountain Village Town Council unanimously voted to waive all planning, development and building permit fees for deed-restricted workforce housing units effective January 1, 2019. By waiving these fees, the town aims to encourage owners of these units to maintain existing units and offer greater financial incentives to construct new units on remaining deed restricted properties to ensure the availability of affordably priced housing for its permanent residents.
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 of the town.
Deed-restricted workforce housing programs were started in this area in an effort to give local workers and their families the ability to rent, enjoy home ownership at below market rates, and be active in the community. The deed restrictions vary based on location in the region and type of unit, and the Town of Mountain Village offers both rental and ownership units. To qualify for and purchase deed-restricted units, potential buyers and owners work with the San Miguel Regional Housing Authority.