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- RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS
'�^`�� OF PITKIN C�UNTY, CQLORADO
ADOPTING THE 1984 HOUSING AUTHORITY QUALIFICATION GUIDELINES
+%' FOR I,OW, MODERATE, AND MIDDLE INCOME OWNERSHIP HOUSING PROJECTS
':�§ RENTAL hOUS2NG P??OJECTS, LODGE AND CO!NMERCIAL
AND DEVELOPMENT OF EMPLOYEE HOUSING UNITS
.•;e?�; AS SET FORTH IN RESOLUTION NO. 84-3 OF THE �`
SOARD OF COMMISSIONERS OF THE CITY OF ASPEN AND PITKIN COUNTY
�+�: :�'1-:
�'.-+ Resolution 84- 46 �`�'`'
_ �'
��i WHEREAS, Resolution No. 84-3 of the Board of Commissioners of �-;:+;�'`.�;
�
.'�-�. the Housing Authority of the City of Aspen and Pitkin County, a -
?�
copy oE which is annexed hereto and incorporated herein, has been
£"y submitted to the Board of County Commissioners of Pitkin County,
'ct
4�
i�� Colorado, which resolution sets forth the 1984 Housing Authority
;�� qualification quidelines for low, moderate, and middle income
� ownership housing projects, rental housing projects, lodqe and ��
�`=i `�'
'� commercial development, and development of employee housing units; �::
- � and :' :
,4� r'..
;� WHEREAS, the Board of County Commissioners of Pitkin County,
�,:
� Colorado, desires to adopt said Housing Authority Resolution No. -
4K
� 84-3 as the 1984 qualification guidelines for low, moderate and �'F �
.. u� �', cc;�
.:
� middle income ownership, rental and development of employee housing �
� units as set forth below and bv virtue of the enactment of this ��
�� �` �
"': resolution to supercede and amend all prior Pitkin County resolutions --
� i.:'?:
pertaining to housing guidelines but only to the extent inconsistent ��
� ��
`�p with the provisions of this resolution. �?'
.v F,`.
NOW, THEREFORE� BE IT RESOLVED BY TAE BOARD OF COUNiY CO.--
� MISSIONERS OF PITKIN CQUNTY, COLORADO: -
i -
t Section 1
t
�t That the Board of County Commissioners of Pitkin County, ''
� Colorado, hereby adopts the 1984 Housing Authority qualification
i
� guidelines for low, moderate, and middle income ownership housing
' projects, rental housing projects, lodge and commercial develo ment, �� '''�,
p �` i,
�;.:,
and development of employee housing units as set forth in Resolution r::. .
No. 84-3 of the Board of Commissioners of the Housing Authority of - '
the City of Aspen and Pitkin County, a copy of which is annexed
hereto and incorporated herein.
Section 2
The regulations and guidelines set forth and adopted herein
shall supercede, to the extent inconsistent with the provisions of
this resolution all prior resolutions; provided further that the
provisions of resolutions pertaining to employee housing quidelines
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shall remain in full fozce and effect to the extent not inconsistent
;'?�� with the regulations and guidelines adopted herein.
,� Section 3
-� �+.
If any section, subsection, sentence, eZause, phrase or portion
'a-,� r
t�"� of this resolution is for any reason held invalid or unconstitutional .i
. --=°;?i �sr��;
r� by any court of competent jurisdiction, such portion shall be deemed =,�f-�''
a separate, distinct and independent provision and such holding shall �� �
���r•�:; not affect the validit of
y the remaining portions thereof.
W�'n'
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a�:
;�-� INTRODUCED, PASSED AND ADOPTED this 11TH day of � 1984.
����
(SEAL) CHAIRMAN OF THE BOARD OF COUNTY
� COMMISSIONERS OF PITKIN COTJNTY,
' '""� COIARADO:
J� ,
.�,�� � ;
- _ �..; sY- !
y' Mi ael Kinsley
4 X�'� _
�M1�' :'_
'' ti� ATTEST: f
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�:�.; County Clerk '"� '�
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,;� RESOLUTIOt7 OF THE BOARD OF COFIi3ISSIONERS �;
i,.,�j ��...,_....
� OF THE HOUSIi.G AUTHORITY
,� OF THE CITY OF ASPEIa AND PITY.IN COUI�TY ��-+t,•..
rt
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;?F Y ESTABLISHING TAE 1984 FIOUSING AUTHORITY .;`�s>r._.;:
��7�
QUALIFICATI027 GUIDELZNES FOR LOL+7� [lODERATE,
't,-� AidD h1IDDLfi INCOflE Oj7I�EF.SHIP HOUSING PROJECTS, ' �
i
av r
�_^-� R�I•7TAL HOUSIIdG PROJECTS, LODGE AND COI1i•7ERCIAL DEVELOPh1ENT, �
�e;:� �
'�•.� ADID DEVELOPI•fEMT OF Et•iPLOYEE HOUSING UPIITS
r�;. ?
:;,,�y; Resolution No. 84-3 !
;;<;;.'�; � :
.;:�� j7HEREAS, the Housing Authority is required to annually j �
���
- %s.>
establish qualifications for participation in low, moderate, �
;�:�;;
�:.=; and middle incone ownership housing pzojects, rental housing
;
,�,:�;.� ptojects, lodge and commercial developme.nt, and development ;
�
;�.��, of employee housing units, and '
-� i
� �;;_';;'� - ..
s';;,;i� t9HEREAS, with the goal of establishing uniform Employee � •`ti
'._°','� � �
Housing Income - Eligibility Guidelines and Housing Price �uide-
�� .;� lines as recommended by the FIousing Director and the Board of ^�
��;.=�
4 i Commissioners of the Housing Authority of the City of Aspen
N='
and Pitkin County wishes to adopt the sar.ie, � �
�*~`� i
�: ,
�-�°•;; tI0[•1, THEREFORE BE IT RESOLVED by the Board of Commis- ,
„�,ry�,� � .
sioners of the Housing Authority of the City of Aspen and Pitkin i
'`;� County that the following constitute the Authority's 1984 (lualifi-
S:�
� � cations for loia, moderate and middle income housing projects
T�'',� within the Authority's �urisdiction or control and r�hich will
�_=;� supercede and amend the previous guidelines as established in
i���
L���� 1983.
�,::: 'i_' .:
1'�� . ..,.;_
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�; Sectio�l. Ownership Housina Projects.
i.
� The following shall constitute the Honsing Authority's ( - •
� 1984 quali�ications for low, moderate and niddle income hous- j
y4`? i�
r � ing projects located t•�ithin the City of Aspen and Pitkin County: �
�i: i
'� 1. Persons shall not exceed the followinq mar.imum conbined j
�::
�
.'u;`. (family) household income per year:
�-
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1
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i
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r� .
. �•
, �
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.. �r • �� m� T'�i��rT' r � ' ..
_ i' �x�r� ,'.�,*�`�1,����i�t`t"�y''' ���.� �," ,�wr�`h.,��rFsp' �.
.r�.�r°•m4�w� '� � ..�r��..�"; �^�`t��� � �I. ,�'��''�.}� �z��i�;krN ,
. .._I�"r3�i ���:..A9Y��.6'sdt YL..� t A �3�ima a�xr��.�a"�`r�,'r��':.;1�!`�.�'.,�...+,��. �
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'"�`_{ INCOl1E
' � ��`7.G.Fe .�.TU��Q 1 BEDROOP] �$EDROOAI 3,4 BL''DROOPI
�i
•, :; Low 0-12,200 0-17,080 0-21,960 0-29,280
" ; t9oderate 10,980- 15,370- 19,760- 26,350-
'.',:,3 19,900 27,860 35,830 47.770 �'.'° '
� � -
� ' ,
Eliddle 19,901- 27,861- 35,831- 47,771- � ,�:.
' �` , 28,790 40,300 51,825 69,090 �'i�'i�. :
.'a . >,�.,.
• "�;;;r� 2. Applicants of 60 years of age or greater shall be reviev�ed
•'�="� accordino to the curcent income and residency guidelines for �
u'�-? senior citizens adopted annually by the Board of Commissioners !
NY� i
�``�1 of the Housing Authority of the City of Aspen and Pitkin County. '
._�� ,
:�;;� 3. Household assets shall not er.ceed 150� of the purchase i
i;t.;� �
;%ni� price of the unit. Assets shall include all fixed and liquid I
�=� assets, excluding personal effects. Assets shall include j i
_ r� all professional and business equity for both self-employed �
;�;-� persons and investors. If there remain unsold units within ;
� � i
=:� a project, the 150a asset naximum may be increased by 25b incre- S
� i
i :�
ments not to exceed 200$ of the sale price until all units are �
::;",,;� �
i�.:.. - ,
• �H sold. � .�1
�''?� ' 1
• i?,�'� 4. All persons shall be residents and employees in Pit- j ro_
{r�`:� kin County and shall receive priority according to the follow- � ::.,
Z
�r�`� ing schedule:
P'� �
~ a. Residents of five (5) years or more o�ith a minimum
�<� •
,,.� a
�:c� occupancy of one person per bedroom.
��� -
t� b. Two (2) to five (5) years of residency with minimum
;±:� occupancy of one person per bedroom. E;
�'"N c. Tti•�o 2) or more y
�� ( years of residenc without minimum
� ;-
���- - occupancy of one person per bedroom.
��
{� d. Fewer than two (2) years of residency with minimum
, �
' occupancy of one person per bedroom.
'r.
,�i:'.
� e. Less than two (2) years of residency �•:ithout minimum ��
t •
i-.
occupancy.
If there remain unsold units �•rithin a project, the two (2) j
year period may be reduced by six (6) month intervals until �.
, �
all units are sold. �
�' �
For the purpose of this section, minimum occupancy is 1
3
defined as one person (with an ownership interest) per bed- �
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2 `
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tt a '" t3s�`i,�f 1'k"ai�^�- �'> xY'��'"��z tx4e� r'f���'�;�x?
�„��;^}�_��'�� � � "�; �vr�,�,i�'t�a�.�� c' h +r ' s , dri'� + �
.��,_„����'n.L�� -ki�j- '�r .X§ '.'�Jd .�M::�S.���. � ; ,�..;:aGf'.��'��Y�a�� .
vP''y1:.. r �+ir .,f• r T'i
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'�� room. The minor children (less than 16 years of age) of a
: �
�
-,;� person with an ownership interest is granted the same status
`�! as his or her parent, �
' "`���} For the purpose of assigning priority, the highest number •
� ��.
of years of residency held by a spouse, any person acquiring
;:ti':': '?
��;''>:-;:� an ownezship interest, �•�ill determine into which cateaory the
.;..:::-.:„ �
`..:_� applicants will be assigned. The period of residency should
� be cumulative within the last five {5) years and need not be !
- continuous prior to the date of application.
c
S^` ___;y 5. Persons who are employed in Pitkin County full time
, �
,,�2"� but live outside Pitkin County shall be considered residents. '
t -'� 6. All persons shall be full time enployees from the date }
r, '.�
r � of occupancy, provided that this requirement shall not apply
� - � to spouses (and intended spouses] of current owners and persons
y � sixty (60) years of age and older.
'`r � 7. The following shall have preference and enjoy such
,`,., - ,,�
a �� - '• a
y,,,,�;.,� in the following priority: �,�
� : •e
� �� a. Persons with an ownership interest (joint or tenants
� `q `>
� in common) in the unit. The purchase price for this r;�
'_' "' " interest must be equal to or greater than all other
. �.;=;:r1i
�tc:...::":;::
:;i;-���'`� bids offered (but not er.ceeding the maximum apprecia-
__,:�,
-..
y?�!�f::: tion) .
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b. Persons chosen by the remaining owner(s) to purchase
`'� the interest of anothez owner p=ovided that he (they) A
�..,;.,:.,•� make a bid euual to or gceater than all other bids
� �_� received (not exceeding the mar.imum appreciation) and
�- ,�
f all o�•rners (subse�uent to sale) will meet all current
� aualifications for a household. k:
�,
�
}���ar, c. Spouses of current o4�ners. ,
c�X"��� d. Any o�•mers of housing under a Housing Authority Resale
''�'�•,
����
C�� � Agreenent specifically 9iving the owner a priority
,��_'�
'� over other applicants for Authority honsing units.
�,� � � .
�, e. Those applicants who have been tenants on the site
��, .�
` � of a new employee housing project and shall be dis-
rc� .'�
k "� placed due to the construction of the new project oc
�
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. +i � 4 r�A1 ��.�'��r'��,, �p�„4 i' 4� �,�:Y° �f ��Y�y��r�y"�
a�;i�r�', �i'�'��t� k�'+ ..fi.;• ��i��'F"L.�t�33�1� f.,�,�� {,�' � �, } .
-,.!t�, �,7�� fi""Ir ...F'a��.�a�[ ��� A' ��a.�'wx,.����
. Y�iN'�'"ATRl�ija�7f'.:.�''«:i4:. �(� I 'j Y<E'" !��
.t•
�' .
t i'..i
_,;� the conversion of an existing project, provided that:
, s 1) The tenants have lived on the site or in the
=`� units for a minimum of six (6} months before
;_ '' S
i,i.�:i.�.`�:�.:"'.S
'" the startin9 date of construction, conversion, .
- or approval for conversion;
' %,��-" ;:,> 2) The tenants must meet all other qualifications
=;;,y:�:_:r }M1.:
��:°'`�:�' pertaining to the project. r� �
� a 8. Debt/incone ratios, including all liabilities, shall
r 'r
� .�r not exceed:
r 7 f'� '
,� a. 28-34$ of totai income allocated for servicing
� �
x� .� housing debt and relate� obligations;
4-,??;-:� :
�r"'�^"� b. 34-38$ oi total income for all serviceable debt
2;y,.r`.� �t
- "�"}`' � added to loan liability for the purpose of calcu-
i-,.:..
lating and adjusting the I�Iininum Required House-
� � hold Income (t•f.R.H.I.).
� 9. Unless specifically exempted by these guidelines, all �
� ` - gersons having an ownership interest shall meet these qualifi- � f
� _ �
�; ;� cations and all units shall be owner occupied. Joint tenancy
� ,� : and tenancy in common shall be permitted, Other form of joint
ovrnership permitted only on special revieu� of the Housing Author- P
� � ity.
r's � 10. All transactions regarding the conveyance of any of
��� �
?'.'-,L"':�i�� these types of units shall be subject to the Resale Agreement.
�* _,..'� �
11. For the purpose of applying these guidelines:
, '�_� a. Assets and equity shall be defined in accordance
r;;:� :=�
� ' - r�ith Federal Tar. regulations concerning property,
K �
� �
bonds, interest, etc, income is Gross income
;-� '� as defined in Internal Revenue Service
�-� ,-�
� regulations.
'k�,^�-,i:
+,.��,X
,�;.,.,�, b, Incone shall not include alimony or child support
�3
�:`: payment s,
,..,�{:?;;:` c, Proof of residency and employment shall consist
.`'�'"J of:
��
"�`i�'. ��
1) Federal Tax return forms.
�.y,..'� 2) Employer verification.
�,�::""'.'
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'.:� .y ^yy����si� ���rynl{,<`kf'���'L,,�y�` ��} �{;c5i���s�sy
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. .. .���.n���'���:u'�.��-�_� . ..:... �-dw�ait+x�Pr=•'�. ' t ,;j'�,, Yr..._.�.'� dC���"":£i+,��"'�-: `.
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;'
-'°.;� 3) Landlord vecification
`� 4) *Valid Colorado Driver's License (address, ,
i
��:j . issue date) .
�
'�' " ' S) *Post Office Box. ' •
ir,� �
• �''�' 6) *Telephone (date of installation, person
,;:�
listed to),
ryy, ��
"'":-"i� 7) *Vehicle insurance ancl registration.
��;��.';:-:�
'��� � B) *VOter registration.
;;�.r"_ �.�
� �
''�, ,� *Optional I•Iethods •
r�,.;�,�:._ d, Employment and residency shall be averaged for �
��_`_;'� a minimum requirement of nine (9) months employ- ' ,
:=y=�':� ment. � `3
•�iy';..�.-`� ' i
•*�•-: e. Applicants shall be reviet�ed according to the `
_ ���A.. �
ti�.K-Y
- � following financial criteria:
� 1) Applicant must provide the last two (2) years �
i
� of Federal tax returns and income statement r
i 4,� - .. 1
• �` 4� and balance sheet or acceptable documentation �:
"'"'' by the Housing Authority.
, �:.,_,;E ,::
f �
�� � 2) No greater than a 20o discrepancy will be yT
� 4
accepted between income repotted on tax returns
�% �� and current income statements, without-thorough
��-�-•�� documentation of the discrepancy due to wage ;
�" �
T�, =� increase, change in positions, etc.
; 3) Co-signers will be approved for ownership
;�
� � projects provided that the co-signer is either +
•r�»
� related to the purchasez or is an employer
Y, .,
rr,,, oi the purchaser and is not liable for more
t�
r�y�
than twenty (208) percent of the monthly pay- � ='
`� �
[,:.: .
r4<, nents required to amortize the mortgage. ;
�'Y�. ! •
Parents may not contribute more than 208 of
f€ ;
down payment.
:s�` 1 .
�• �
Section�. Rental Housing Proiects. i
��� The followin shall constitute the 1984 (
�.... g qualificatians
� for lota, moderate and middle income residential rental housing )
5 !
. �
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' ''� ptojects within the Housing Authority of the City of Aspen and
.•',1
:i Pitkin County's jurisdiction or control:
F, '� 1. Person�shall not er.ceed the following maximum combined
°`:_� (family) household income per year: �
i.r,.-;�'i ��� �
1 � t
`1 I NCOt1E
! $g�� DORMITORY $TUDTO 1 BEDP.00td 2 BEDROOPS 3,4•BED$j•� } � .
�`•':."":_.j ,t�:'
�-:
� ;; Low 0-9,360 0-12,200 0-17,080 0-21,960 0-29,280 �_
s� j ,
�;.Y.;':;::� Ploderate 0 10,980- 15,370- 19�760- 26,350-
19,900 27,860 35,831 47.770 i
`fN-'`'3 t7iddle 0 19,901- 27,861- 35,831- 47,771- i
r 28,790 40,300 51,825 69,090
a �
' 2. All pecsons shall be residents and employees in Pitkin
;:�;^s;,"•�
"� County and shall receive priority according to the following
+ :
r' schedule: � '
:;";:''�:.
.�;>c,� �S
�T�' a. Residents of five (5) or more years with a minimum
_ -�i,.
' occupancy of one person per bedroom.
r r....,
?. `<_� b. Two (2) to five (5) years of residency with minimum
';Li:
- occupancy of one pesson per bedroom. ?
•.° ,) .
s
� `� c. Two (2) or more years of residency without minimum �
,
``{�, '� occupancy of one pezson per bedroom. : �}
#:,,.-
�
d. Fewer than two (2) years of residency with minimum
1
�` occupancy of one peison per bedroom. �'
.,.,,:.
#r``-'� e. Less that two (2) years without mi�imum occupancy.
H':�:
. ,i.-!,'�>.`:
'�- -" f. Employers may lease units in new pcojects the -
�1 i
�"`�' extent to be determined on a special revie�i basis
� �:� ;
t ;� and the extent of the restrictions will be identi- r
� in the covenants with the following limitations: �
�:
� � 1) Employers shall be the last priority.
�
2) Employers may not evict an employee if employment
t
�_ is terminated by eithet party,
�� :
�.�, ;. 3) Employer must sign an Agreement with the Housing
'�;:it;":.
t ..� :
�: Authority defining the r�les and obliqations for �`.
"'��a,�;:; . �
�,..�
� the leasinq of a unit.
���. -
,r�"�" If there remain units within a project that are not leased,
?4h:S.�°;
���r; the two year peciod nay be reduced by six (6) month intervals
§�*�;w;`;
�, _ until all units are rented.
� G_
'�x'c 6
_±�+
:�+a;` ' ?
S.�i�`
��'x:�S
�tt
��'ror���� � .
::l'tl.�:��:sa,"�•J
y ' .
. �` "`..��_..��. .. . �a
.«�;^^:: . ,
� .��
��� ! 7 -w
.w 6 k�'`P�'��w,�,� �;`r �.,� �+S� 1 e��c�t�1�aYj���x� `r�w��. u } : + l�a�k�'�?
�. F n�i �]�'in�rt s�'� �i Ty9.3 �� ^"¢�•`, ,�f !iyr-}� { y y.;.
�i1�1'�.iw'J�M�c..'������1rL.�4„_stL�-ZGG��}.r.�.�'rs��viM',:��1:{� :`6tl����4�r.L�%4��'II�1��30
i �+'..y;_.
...:.�..���
f � For the purpose of this section, minimum occupancy is
z.i defined as one person per bedtoom. The minor children (less
�'?'� than 18 yeats of age) of a person with a leasehold interest �
c
.' � is granted the same status as his or her patent.
Y
. •.{ .
� . For the purpose of assigning priority, the highest number
r �` of ears of residenc held b a s ouse, or an erson ac uirin `�K
:,:.: s� Y Y Y P Y P 9 4
-`4_-� a leasehold interest, r�ill determine �ahich category the applicants
`-� will be assigned.
'�t ;� The period of residency should be cumulative within the
,s,;�;:;,;� last five i5) years and need not be continuous prior to the
;'�:'.�
date of application.
5 fi
,� 3. Persons who ace employed in Pitkin County but live
�r:-�� outside of Pitkin County shall be considered residents. }
� a� 4. Applicants of 60 years of age or greater shall be
;• ;;:n
c'•;'='';�.�.a
4.;
,.`:''� revierred according to the current income and residency guide-
•� lines for senior citizens adopted annually by the Board of
° ��:•;.� - Commissioners of the Housing Authority of the City of Aspen
,'°,� and Pitkin Coanty. °1�
� '�'t.
� :'� 5. Household assets shall not exceed 150� of the value ;
� � of the unit (based upon the allor�able sales price per square ��;
f� ;<�
s
Gy =� foot). Rssets shall include all professional and business
== • equity for both self-employed persons and investors. If
i.;: <t
V�.4'::."�,�.
ir:-:.:; there renain unleased units within a project, the 150$ asset
�
maximum may be increased by 25a increments not to exceed 200$ j
•t? of sale price computed on square feet until all units are
L � lease6.
� -
;_�� 6. The priority in rental units ti��ill be folloered in
{ ',�
� new projects but may be waived by the Housing Authority
��`-=� and a waitin list ma be established b the managers -
:�;;�,i:;.:: 9 Y Y
t==���;
'sj=.:� on new projects after a reasonable reservation period.
� , .
#�rtis 7, All persons shall be full time employees from the
��� ,� - .
AY: date of occupancy, provided that this requirement shall
��'S}'
�;i''�.-� not apply to spouses (and intended spouses) of current tenants
�,,,w.:
`s�rf:-.;
��,; n� and persor.s sixty (60) years of age and older,
.,�k..,J�.A 8. For the purpose of applying these guidelines:
r
`ki i .�
.;.r�),
�
k"ft; •
p�taY .
4C.:'
�.: .�«�'` ,
�%S`i'�'�',�,. .
m.
, �.
y�:,: � � " -
�'''� ���
}( S.�} �'�II Xth.�3'^Y - t j 1J 9 ,�,,
' ' r � a ��`i^ ��,�t ���� � V ]� y lt+��r�s��Y��t
R, �+� �-�, ,..� �.�� � �� ,�'� ���+`x '�w� a,��,'"^`
� } ,�,��'�:�'��.��q. �` ^�- ���;��'yrk� t^
..-'Y���q�'�'•..t .. � } . ���t�l�.�..�"_'- T � L�.ah_........�� :..,.:.i.-..:
�Kfi
--'";.� a. Assets and equity shall be defined in accordance
..';-�
with Federal Tax regulations concerning property,
;;
bonds, interest, etc. Income will be
.'�
' Gross Income as defined in Internal Revenue (I,R.S.)
- Y
' regulations. �
�;�;=':� -' b, Proof of =esidency and employment shall consist �
• �'y�:r..":-'...F _
a..::,.
:.,:r'�� ii o f c
.�y .
`.:,,`� 1) Federal Tax return forms.
�� 2) Em lo er vetification.
�
r �
�.�._.;.. P Y
`��;,
3) Landlord verification (proof of residency,
� � -
��``���'�' physical address) .
.K����4 .�+�
�f _� 4) *Valid Colorado Driver's License (address, �
^�;;''`�,;;_,�
,ww• issue date) .
*r-,
� ^ 5) *POSt Office Box.
;.
•'�~';y 6) *Tele hone (date of installation, person
�;`.>`_ P
��., _
� lis�ed to).
�i - .. 7) *Vehicle insurance and registration. •'S
� ,*�,
'.�,� 8) *Voter registration.
�: � �
e. ,
��`;�.`:' *Optional Methods 4 "x
�
�. c. Employment and residency shall be averaged for
� "'� �
a minimum requirement of nine (9) months.
:'�' �� d. Applicants must provide the last two (2) years ?
:..":;� ,
G���_: `
i:,;':;;:;' of Federal Tax returns and a financial statement
� and or acceptible documentation by the Housing
;�...;;,
Authority.
''`-,;�-
,: :�., -
� �ect�on 3 Renta� Housin roj�cts Associated o»th Lodag
nEit;
F` ' and Commercial Devel o$ment
'� ; The following shall constitute the 1984 qualifications t'_ `
�-.;r
r,�.�
���" for low, moderate and middle income housin
�y g projects associated
��
�s�" with lodge and commercial development within the City of Aspen � � �
��
' and Pitkin County:
,.
.;;,ej; .
?�_ 1. In the event employee units associated with a lodge �
f
t`��„ or commercial develo ment are em lo er owned p y
���;%i P p y , persons em lo ed i
� directly by the owners shall be given first priority to occupy �
u;
$ !
• �
�
;
f
� v"+
`-� y�i,et�:��',r
__--�-�-�.......�..-...�._��.
.�V,. �.
�
��rr.t'•.•`.Niyd�'�����`�tt. �yx��� �� �^t �.�C� �••�y� �etii' '! - :-. _.
J+s:tii :i .. .:a.»�'`-��.'�YnL!?:���i��`�'S.rt:ti_., ,�vi..:«� r�..,::?._i.:.s";.vl�''� t
� k�T��:,:.
i� {
.,.� �
the units. in the event theze are no persons directly empioyed
,r
by the owner who gualify or are available, then ehe unit shall
+k
;:-� be offered to such other qualified residents and employees in �
.,� � accordance with the limitations contained herein.
� 2. Persons shall not exceed the following maximum com-
�''"`' bined (family) household income ger year:
� .� �.
, . ����.
��-'; INCOAIE xr�,..:
�•°' , � DORPIITORY STUDTO �BEDR(•1 ED d 3,�3EDRf•f
3r?r':� Low 0-9360 0-12,200 0-17,080 0-21,960 0-29,280
n`=� bloderate 0 10,980- 15,370- 19,760- 26,350-
+:�`-•.y�'� 19,900 27,86Q 35,830 47,770
%f�.''�''`�
�� '"y hiiddle 0 19,9Q1- 27,861- 35,831- 47,771-
�":` � 28.790 40,300 51.825 69,090
tr^'::� J �
;;y;� 3. Applicants of 60 years of age oz greater may be
���-_ .
' ^=?' revieued according to the current income and residency guide-
`: � a
• :� lines for senior citizens adopted annually by the Board of
�`. :� .
;f:,,� Commissioners of the fiousing Authority of the City of Aspen
�`": �,� and Pitkin County,
��,
4. Bousehold assets may not exceed 150$ of the value
�: ':�
� ,� of the unit (based upon the allowable sales price per square .�
� ' y.
foot). Assets shall include all fixed and liquid assets, '
� ', 9 excluding personal effects. Assets shall include all pro- ,
� = ` �
;:; � fessional and business equity for both self-emplayed persons
�.i���i.j,�:�:��.
X
�L:+�':; aI1C� investors�
���yy:
j '.' �r.
5. All persons shall be residents and employees in Pitkin
, n� County. The peziod of residency need not be continuous and
r� need not be immediately prior to the date of application. �
}�.-.. .�
� , ;� " 6. Persons tiho �vork in Pitkin County full time but live -
f -,� outside Pitkin Coanty shall be considered residents.
�„: ; 7. All persons shall be ful2 time employees from the date
tt � �
� � ' of occupancy, provided that this requirement sha7.1 not apply
r..������,
���„-1 ri T� to spouses {and intended s pouses) of current tenants and p ersons
�'�7�W?�W,� .
r�'Y�.,. six ty (6 0) years o f age an d ol der.
��xw'�»:,� 8. For the purpose o£ applying these guidelines:
�.�.. t
y,t i a. Assets and equity shall be defined in accordance
�� � i with Federal Tax regulations concerning pro ert ,
�
P Y
"` � bonds, interest, etc. Income is Gross Income as
c
�<<.�i. ,� 9
J{ '.
A:�• ��F�'��• .
�L. ��.
y��F�n
����, -��-'r. . . . . . �
tm • ._�d
:=r;:,���:. ,, x
:,r; .
.... ,�:.:,: � �..- ��r. k .,�y"�' �.'S.7 ts .
�'-i�if�4��� '�'�� .. ..... L:..}�!iy��. r~W ^.�~ i���Lrj.��s�'TM yy•t,.t r�.'i°�,.�'` �b�•;y'3 p'
�16t.��lt at4 •-z�i L�rytii�
�s�;,
_ . ��pa:�.��;
'� . F'��d: .. ..
.n
. defined in Internal Revenue Service (I.R.S.)
" regulations. �
`� b. Proof of residency an@ employment shall consist �
+=, of: � =
1) Federal Tax return forms.
'�� 2) Employer verification. �a"� �
;,� �,.���',
;� 3} Landlord verification. „_;��;, ,-
' 4) *Valid Colorado driver's License (address,
,.��
�� issue date) .
.;� 5j *Post Office box. �
�� 6) *Telephone (date of installation, person �
;;':=� listed to). i
-*'� ,
7} *vehicle insurance and registration. � :
- r:.� : ;
" 8j *VOter registration. �
�;;"� t
`�'°� *Optional Methods
�;,:� ;
..;>� '�
;'��:,,:: �
. - .. c, Employment and residency shall be averaged for � .
t`?:�. i
'"iti= a minimum requirement of nine (9) months.
�:<y�. �
�:,,;.; .; .=j
d, Applicants must pzovide the Zast two !2? years i G
�:.';;' ' �
of Federal Tax returns, income statements �
�' ^ a :
r ,;�
#:. *,- and balance sheets. `'
G;'''
:�°'�.i:.`� U �
� 1 }
�'��`'Y., F'
:� � �Pr*;nn a Develoameat Qf Emp�oyment Pousing L�nits s
�� �
t The folloo-ring shall constitute the 1984 price guide- r
��"`�"'``� lines for the develo ment of sale and rental low, moderate 3
i:-= :.';� Q
`'"''r? and middle income units:
�F .,'}
�,�;�- ' PRICE GUIDELIt1ES 19R4:
_:s,;�
""�.'`•'1 LQjj [��DERATE
f _� tlIDDLE
�� CONSTRUCTED UNITS
�� '� (Allowed price �
��"`.''� per square foot)
C"��
.�`�`K' SALES 1r2.5,7r $6S $90. $127
���. _
.': .58 .82 $1.13
`�' RENTAL 3�4,6,
`^;�,
��;�';,�`<
:x
f!�e'�;:
tf,a,:..>:�t==
��.;.
� SOUFLRE FOOT RANGE: �
,ti:r,�:.
�:`�` 1� �
'xa,::� i
� �4e:�vt,2 !
e���d'i` . i
4'
6 a�s: }.
r ......... ,.
)so^' ,t„�.,,'�
. � - ,, y
_�'y{;_,
,�
� ` +�.�',, i}A�f� ��y' K�rt�Yf�.'k �•• L�"i i�., 4!"W�Y'�tL
�j{�j . §�4.a , c � Y ,, f i
. t _
.,
� '!�� '��' � � �� Y �f � H k1�,c�� � i ,.�xfJ� �.�1f��.� L'
ra !,*�'�,3ri..r�J „�=.i�".+ `��4f41�. j .F � Yk�+�ti.+��,�" FY�i�, � �` �;i��,��`� �tr����+�;�`�„�`�y`�
_...»�.a�cs.���z..�i��`��•.' Fw"�E�r�^�s� ,,,.�� ����_� �, t �t�4`'�^��'' i�rr
.��Yr;,ss.r,..:...�c'_.
-,;! . .
', �QSI h10DERATE 14IDDLE
Dormitory 150/Person - -
�' i Studio 400-500 400-500 500-600 �
?�=� 1 Bedroom 500-600 600-700 700-800 �
{'� ' 2 Bedroom 650-850 700-1.000 900-1,100
,..-,."..
F 3 Bedroom 850-i,000 1,000-2,100 1,100-1,2C0
, ':�
_ - � '>:?w;�
S '
? C;;
' ,r�;:-.'.� .
::�.=.«�:`
' Existing rental rates may be increased by 5�.
4
�;,�,-� Eiiddle income will not be considered foc GP]P points, except
-:�cs;;;r�
"�"" in the 100$ PtIH Projects.
i =�
N,'.� 1
>-_�;;':? Sguare foot allowance is calculated on living area only
_ (interior measurement) . Sales prices rounded to nearest $100. �
`�
;;:r;�;: 2 {.
- 'iy.:a�::���
AlloV�able price per square foot is calculated at 13$
� `� interest amortized for 30 years with 20� down assumable with �
;
:,::s::;.:3
i,�_:;'� no greater that 1.5$ points to the purchaser at closing. .
+J � If 138 financing with 208 down is not provided, the price ,
. "i
r ±� per square foot will be adjusted to reflect appropriate �
t,., <
� � affordability. The average income in each category for each � ,-�
F��
;� size unit will be used to determine affordability.
�. 3
�;`�':�� Sqpare foot allowance is caZcu2ated on living area only i
��;� (interior measurement} . Rental rates rounded to nearest
���
i•;.�� S5.
;;�_.;�
_:::�.`�t q
P.ental prices include aIl conmonly metered or assessed
4 ''� _
��.;=.;" utilities, condominium dues, management costs and taxes. -
L .�
�' S
f All "for sa.te" units will be offered throagh the Housing
,-�;;� Authority to all qualified employees under procedures establish- -
� tF .
��}:� ed by the Housing Authority of the City of Aspen and Pitkin
t,-„?
t::� _
`:�ti County.
,�; 6 _ ,
,a; Unless specifically exempt from this provision, all occupants
.��;- .
- of deed restricted rental units must be qualified prior to
a�li:.
i•�^;r` occupancy by methods approved by the Housing Authority.
��
�tk
.; 7
�'='�" AlI units offered for sale nust be fully constructed and
.�,
11
:,�� ,
x �
`
- �
�
t��,�
f��^•�
:�. �tv
, �
�r�:N.�.Ly�::�� . � �.
.,i4.(+��_ t�� .
• _ r :�� � ���� �. ,'�it��,T��'� i�" �«yr aJ 4�Yi'it+�� 'd*.��� '
�" �`%` � �
i r SF r At�>i �. > f ''� q'tt�
�����x�����`' . ' � ��•L
t, �r 4ti �y����.�1 � �` ��w�^ �
�'.+4�%. q' �,'i.�. -4��:-�uz]r ,t�r � r i , r L n �T :e ira
� `s'.��.�.ti� frJa�:.,is".e.� a f) ..
�.:. ..
-,.� . �
:.� •
'�:.�
� i
' occupancy ready (i.e, appliances, carpetinq or floor covering, j
%i
etc.).
1
; 8
;•:1 Upon demonstration by a Lodge or Commercial Applicant that
:h.:���..,
he can and will provide employee housing to the extent to `which ��t��`.
� ;�� �. � _
the demand for low and moderately priced hoetsing ��ould be in- '' .
-'.t
'y creased by the proposed development, the minimum square feet
;;� stipulation may be waived with the approval by special revierr �
�� of the Housing Authority of the City of Aspen and Pitkin County.
�i 9
ia Dormitory units shall be consistent with the Housing Auth-
�
:� ority's Standards and the City and County Land Use Codes.
.� ,,
' ;'� -
�i Approved by the Housing Authority of the City of Aspen
�
�� and Pitkin County, Colorado this 29th day of March, 1984.
��
;� i,
• '� - Housing Authority of the City of Aspen • '
� and Pitkin County, Colorado. �ys`',.�
�l :
� BY. ••
�{ �,;
jt Harry Truscott, Chairman
6
� ATTEST:
�
y
James L. Adamski, Secretary
�
{ APPROVED AS TO FO Q: APPROVED AS TO FORI1:
� `
� m Smith, County ttorney Paul Taddune, City Attorney
�':��
�c, :.
I, _ .
• I« _.
�
�
r
i
i �
I
' 12
� '
� 1
�.�;
;