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A R6S4LUTIOtt OI� THE BOARD OF CO[!liTY COltHIS-
5ION�R5 bP PITKIN COUNTY, COLVItADO. ApPROVItiG
AN6 AbOPTING 1995 �N.PLOYEE HOUSIlIG GUIDELINE5
�, ANb RENTAL 5UBSID22Eb HOU5It7C (SEtiIOR CTTIZEH}
C,UIDELIltES, EOTH AS RECOf}HENbBD BY THE
A5PEF2/PITKIt1 COUtJTY NOUSING AUTHORITY, AND
AGCEP'CTt3G TFI� 1984 AN1vUAL REpORT ON HOU5ING
Resblution !!d. 85-36
FIHEP.EA3. the go�rd of County Comnissioners daicgated to
rhe Asf,en/Pitkin Caunty ttousing Auchocity the duty ra devplop and
cecommend 1985 Emplcy�Q Hnusinc� Guidelines and Rental Subsidiaed
: + Houainq (3enior Citixeni Guidelinea= and
' FIHBREAS, the Nouain� Authoriry has adopt@d such quide-
lines and has referred an6 recomn+ended them to ehe Doard for
; approval= and
HHERE/1S, the Doard has csvlcucrl thc guidQli�ea and haa
� Eound that 1E is in ehe best interesta oE thc community, ita
housing prog�am in gcn¢cal, and its wmployoe housing and eenior
i
: cttizen I�ousing proqraas speciEically, eo approve and ado�t these �
� guidclinca=
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� KOI�l, TH�REF`OR�� QE IT RF.SO4VEDs
-,
� Seetion l
� That tho 1985 �m�loyee Guidelines, as attached hereto
_ as Exhibit "A,• are hereby appFOVed and adopted.
Soction 2
That the 1985 Rental Subsidtzed Housing Guideli�e�, Foc
' ,:� Senior Citizens, thc Na�dicapped and the Disabled for Independent
. � Givi�9, as attached hereko as Exhibik 's,' are hereby app�oved
_ � a�d adopted.
,� $�,St ion 3
?''' ' Tbak tbe 198q Annual Ete rt oE the As n/Pitkio Caunk
�a � P� Pe Y
~�" Hou&ing Authority is heceby accepted.
.�^�-,s:�+ � .
F�'--s'' INTRODUCED, FIRST REAP, AAiD SET FOR PUBLIC HEARING THIS
.��
`ii'`,��'-� 25TH DAY OF MARCH , 1985.
""'� APPROVED UPON SECOND READIt7G AND PUBLIC AEARING THIS
. 4 STH DAY OF APRIL , 1485.
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80Altb Ot� COtfN'TY CbMt42SS20h8R5
ATTB . OP PI�KIN WUNTY► COLbItAW
B � S"d"`� .
Y=
' Lew Scanian Tom giake, Chairman
Deputy Clerk s tte�ocder
APPROVEG A5 1�0 FORM:
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'T:� THB 8008ING AUTNORiTY
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OF T8B CITY OP ASP8N AND PIT1tIN QOqNTY
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1985 BMPLOYBB HWSINC GtlIDBLINB$
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TAHL� OF' CONT�NT5
�AGB
PART I. DEVffi.tlPtlEliT (iUIbL�I,INBS .'..........................3
A. 8ecupancy 5t�ndards..........................3
8. Square Poot Ranges...........................3
C. Sale tlnits...................................4
D. Itent�l Units ................................5
B. Dormitocy tlnits..............................5
P. Payment-In-Lieu..............................6
li. Land-In-Lieu.................................7
N. Deed Restricting Bxisting ttnits..............8
PART Ii. RENTAL. HOtlSiNG....................................9
: A. Profile Requir�menea.........................9
B. Inrom� Limita................................9
; C. Asset Limitg.................................9
D. Occupancy Standscds..........................9
� t Fs. VQriFications.��������►��������������.�.������
; F. Priority....................................10
� G. Othec Conditions............................11
; Pl1RT III. SJ1LB HOtiSING.....................................22
` J►. PcoEile R�quicemants........................12
B. income Llmita...............................12
C. Asa@t Limi�s................................12
D. Occupancy 8tandacds.........................13
8• Varilicationa��������������������������������.3
� P. Priority....................................14
' G. Otber Conditions............................15
�
� GLOSBMY...................................................lb
� LIST OF T116LBS
�s
� Table I - Dcvelopers Ocaupanry Standa[ds............3
� Tabla it - Sguara Foot Rangea........................3
`' Table III - Squa�e Foot Sale Pcice....................4
= Table IV - Square Foot Renta�l Ptice..................5
�� T4bla V - DedicAtiart Pee Schedule...................6
`- Tabla VI - Rantal Income Limits......................9
� Tab2e YII - Rental Occupartcp Standards...............10
� Table VIII - Sale I�come Limite.......................12 �
� TAble Ix - Sale Occupancy Standards.................13 �
11PPENDIX
!l�THOAOT.OGY FOR COlYPUTATION QF PRICS GUIOP�INSS.......18
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Dgi/EtOP£R .1tDgL•tH?�
Thp Developer Gvidelines ace established t� aet parameters for
tbe congtruction and administration of empioy�e units. 4'he
intent is ta provide affordable housing for employees generated
by residential, lodge and commercial activities. Nothing in
these Guidelines shail supercede ehe appropciate City or County
Land tlse Codes or rhe Uniform BuilAing CoBe.
A. OCCUPANCY STANDARDS
Table i sets forth the standard for the number of be8rooms
to ecconnnodate a family of a given ais�. Theae standarde
shail b@ use�1 when caiculeting employee unit requicementa in
� the constcuction of sale oc renEai unita.
i
TABtB I
OCCtIPANCY STANDARD
April 1, 1985 to April 19A6
, UNiT T1tpB �
DdRMITORY i
8TUDI0 1.Z5
ONB BBDROOM 1.75
41i10 BBDROOM Z�Zg
THRBB BBDROOM 3
(oE lacgar)
s. sou�e �oor �wces
Tabla II seta tosth the allowable aquac• loot ranges to be
used in !he calculation o! ren0 and aalt psices of eiaployee
units. Developera may chooae to conaEruct lacgec units,
� however, rents and sala prices ahall be caleulatad accotd-
a ing to tha Lollowiog...
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SQU]1Et6 FOOT R71[iGB
i l►pril 1985 to llpsil 1986
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Oosmitory 150/Person - ' - -
Skudio 400-500 400-500 500-600
1 Bedsoom 500-600 600-700 700-800
2 8edcoom 650-850 700-1,000 900-1,100
3 8edroom 850-1,OQ0 1,000-1,100 1,100-1,200
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1. CONbiTiONSs
a. Upon demonatration by a LoBge or Comme=cial
Appiicant that he can and Nill provide employee
bousing to the extent to rrhiah the demand for low
and moderately priced housing would be increas�d �
by the ptoposed development, the minimudn square
faot stipulation may be waived with the approval
by special review of the Housing Authority nf the
CiLy of Aspen and Pitkin CounCy.
C. SALB tlNiT3
Allowab�e price pec squace foot for the constcuction of
sale units is deacribed in Table I2I.
TABLS ITI
SQ�ARE POOT SAf.B PRIC6
April 1985 to Aprii 1986
TYp$ PBZ�B
LON 567.00
MODBRATB $93.00
MIDDLB $131.00
1. CONDITIONS:
a. Aiddie income ■el• unita wiii not b� eonsid�red
tor CMP point� axc�p! in 100t P1� pcoi�ota.
b. Squaca Eoot ailowanca is calculat�d oe a�t squace
tee! oE living area (intecior maasucomant).
c. Sale pcicas will be rounded to nearost $100. Th•
average incom� in aach catogory Eor each sise uni! �
aill be used !o detacmine altordability.
d. Al1 sale units wlll ba olterad tbcough tht Housing
J►uthotlly to all qua3lEiad peceons undec pcocedurea
eatabliahed by the Housing 1►ulbority oE the City o!
� llspen ond Pitkin County.
� o. In the even! employee unile associatod with a lodge
or commorcial development ase employer owned.
pessona employed dicectly by the owne�s ahall
' be give� Fiss! priority. I� tbe eveat there are no
parsons dtreatly omployed by the arner vho qualiiy
or ase aveilable, the unit ohall tben be otlered to
other qualltted senioc residenta aad employees
according to limitarions contained in tbese guide-
' lines.
f. All units ofiered for sale must be fully con-
structed and ready Eor occupancy (i.e. appliances,
carpeting or ilaor aoverin9 etc.).
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D. R�NTAL UNIT3
The allowable renrai price per square fnot is described in
the following table...
Tnete rv
SQdARE FOOT R�IiTAL PRICB ,
Aprii 1985 to Aprii 1986
�$ P�tICB
L� S.60
NODERATB $.85
MIDDL6 51.17
' 1. CONDITIOHSs
t
a. 6xisting empioyee rsotricted unit rantai rates may
b@ increased by 3.3• aa of April 1, 1985 and will
remain in effQC! until amendad by RsOOlution of th�
' Bouaing Authority.
b. Squac@ Eoot aliowance ie calculaled on net squace
Eeet of living aree.
c. Rantai rale• wtll ba rounded to the neacest �5.
d. Rentai cates include commoniy metertd or asaess�d
utililies, condom dues, menagomenr costs and texes.
e. Occupents oE deed restricted tenEal unils oust b�
qualitied prioc to occupancy by the eousinq
Aulhority.
!. In the avent employe� un!!• asaociatad wirh a lody�
or commercial davelopnant a�o employac owned, per-
sons employed direetly by the owneca shsll be giv�n �
lira! priority to occupy the units. In rAe even!
thece ace no persons disectly cmployed by tha owne�
' who quali�y or are available, then the uait ehali
� be oltered to other yuali�led paraona scco[ding !o
tAe limitattons contained i� these guidelines.
� g. ThQ dedication !ae ahall ba indexed to the payment
echedule adopted by Pilkin County Rousiag 1luthority
i� etfece at !Ae time o! isauance ot the building
permit.
h. All rental u�its must be lully coaetcuctod aed
ready �or occupancy (i.e. appliancea, carpeling os
iloor covering etc.).
S. DORMITORY UNITS
FThen deemed appropriate by the aousing 1►uthority a pcoponent
oE a development may satisfy the employee housing require-
ments by the construction of dormitocy u�its. The dormitosy
units sball be consistent witb Housing Authosity standards
and the appropriate City or County I,and Dse Code.
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Dormitoty units shall be tequicea to m�et the follawing
`- minimum standardss
, a. One bathcoam shared by no more than six pecsoes,
containing at leagt one watet closet, one lava-
tory, one bathtub rrfth a showet, and a total
area of at least 60 sgua�re feet.
b. Access to a kitchen faciiity aontaining a aink,
stove and refrigeraror and shared by no more than
twelve persons.
c. Use of 20 squace feet per peraon of enclose8 atot-
age area lorated wirhin or adjacent !o the unit.
d. One exit pec 10 persons.
e. An average of ]50 square feet per pecson for
` sleeping, barhroom, nooking an8 common ereas.
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� D8V640P6R8 M11T S�TIBPY T8B EMPLOYE�
� 8008ING OBLICIITION 0! T8a PI�'RIM ODON'tY
i.�11iD D88 CODS TBROIXiH S'QS 08e
O! T8R tOLLOHIN�i /1GT6iW11TNR8
; F. PAYMBNT IN LIBt1
A proponent ot a developm�nt may sati,�iy tD• a�nployt�
housinq requirement of the Pltkin County 6and Oa� Code,
8ection 5-300, thcough a psymont ot housing d�dicstion !a�
(Paymen! In Lieu� as qivee belov:
TABLB Y
DBDIGTION FEB SCNRDU6B '
• ]►PRIL 1, 1985
ONIT SNPLOY6B
� 'j',�j PBIt UNIT j,�► �a nj�LB
# DORMITORY 1 $20.000 SO SO
87R1DI0 1.25 25,000 16,625 11,250
; ON8 BSDROOM 1.75 35.000 23,2?5 15,570
;
11d0 B60ROON Z.25 45r000 29•925 20�350
! TBRBB BBDROOM 3 60�000 39,900 27,000
�� (o: larger)
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. SiJBSIDY 88R B!lPLOYEB s 520.000 $13�300 S9,000
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i. coHOimioNS: �
a. All payment-in-lieu fees shall be dedicated for
the subsidy of �pioye� housing, including but not
ii�itpa to the acquisition af land and buiidings,
gubaidizing the pianning, siee develop�nent, con-
struction, and financing of employee units.
b. The deaication fee shall not be comminqled with
generei operattng funda af Pitkin Coanty or Ct�e
Aspen/Pitkin CounCy eouging Authority.
c. Payment shall be made pcior to issuance oE
building pecmit to Pitkin County to be htld in
resetve by the Honaing Authotity as an asseL untii
such time =hat tha Houging Authority deema nsa8s-
sery to expend these moniea to provida aEfordabl@
< housinq.
� d. Paymene ahall be made prior to and on a porport-
3 ioeal basis and indexed to the payment schsdnle
adopted by Pi tkin County at the time of the
issuance of any buildiag permita �or the non-deed
� reatric�ed units and/oc commercial square Eootaqe
* of the project.
� e. Ali 8sdicatioa �ees, fcao tha time l.t�ay ahaii be
due and payabl� ehall become a li�n upon tha land
� os improve�oents against which they ace aemesa�d
t and may be coll�cead againsE any subsequent ownar
oE such lsnd or improvamsnts. Any claie !or
paymeet may be pcoseeuted as an action in pecaaaat
or by an action ot c�anloreaaeot o! such lien or
both.
Q. LJWD-IN-LIBO .
� J1 proponent ot a development may aatisly !be employee
� housing caquiraa�ant by a pqymenti o! land-in-lieu.
L
� l. CONDiTI0N8s
� a. Const�uct (or subdivide) as part ot the ptoject,
� �o� moce than saveaty-�ive (75i) ot the allor+abla
density (or lots) nas leas ehan one s3nglo tamily
dwelling unit and convey to 81lkia County lo!(s)
whose market value is eyusl to or greater thaa
110ti ot !he egvivelent employeo housing dedication
tee calculated Foc the psoject.
b. The masket value ol the lot(s) shall be estnb-
lished by and M.I►.I. appra3sal for the lotts)
rrhich apprsisal sball be based on the cash value
of the lotls) mt the time of recordi�g tbe �inal
plat tor the project. and net of tAe cuatomary
real estate commission Por tbe sale of the lot(s).
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c. The Genecal Submission application shall provide a
prelimfnary appreisal of the lotig) ptoposed to be
conveyed, and the apprai�al shail lrp upc]ated at
the time of recording of th� finai piat. �
d. R'he agpiicant shall bear the cost of the appreisal
and any ad8itfonal cost that may be incutred fot
ehe appraisal to be aceepCed by Pitkin County,
including costs agsoriated with a change in the
vaiue of the conveyed lots from generai subsnission
to fieal plat.
e. The lot(e) shali bs conveyed to Pitkin County at
the time of recording of the Einai plat pro�ect.
The 1ot{s) to be conveyed ahaii be approved by the
Board of Counry Co�issioners and shall be subject
; to all appropciate cequir�menta o� the Land tlae
Code for a buildinq permi[.
ry !. pitkin County shall have the ability to devalop
� the lote for e�aploys@ houainq or ee11 thQ lot(s)
on a non-pcica-cestrScted basia and uBe ths #unds
fron the salo o� any lot{s1 foc tha subaidy oE
9 �aployee houaing. Tt►e funds fcom the aale o� any
� lota uAall be coiebined wikh tha eoploye� houaiag
: f d�dieation fae and li�aited to only lhose usas
penaitted [or the dadication lee.
_ 8. DSBD RBSTRICTING B%ISTINfi tlNITB
A proponant af a davelopment may satisly its aaploye•
housing obligetion by doad reatricttng axisting housing !o
th• aoueing AuCAority 8mpioyta Guidalina�.
1. CONDITtONSt
<' e. Constcuct (ac aubdivide) as pact at t!►e projeat,
not moce tAan sevenby-liva percant (7Si) o! tihe
allorroble denaity (or lots) nor lesa tbart one
single lamily dwallirtq unit and puschaae (and �
subsaquently deed-reatrict to tihe 8ous�og Auth-
ority Guide�ioos} lully co�structed dwelling unita
moeling tbe guidelinas of the Aoueirtg Authocity
and tbe eoacd oE County Commiasionera to aasuca
� that they cao be rented oc sold a! auch prlce and
in such ma�ner ae to coatributa to tbe allevlaeion
o! the criticel shortlall o� aitocdable housing in
8itkin County, ae tha shortlall is deEiaed annu-
ally by the flousing Aukhocity.
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AEN'rAL_HOtlS211tG
Rental gousing GuiBelines establish eligibiliEy and ocnuptsncy
r�quirements. Thp intent of these cequtceeaents is to promote
af�ordable r�ntal housing foc employees and seniot residenrs.
!�. PROpIL� ttt�QtliR6l1�NT9
To be eligibie fnr empioyee zental housing a person muai
qualify as...
' 1, M employee or,
' � 2. A aenior resident or,
. � 3. 1� handicappad person.
� 8. INCOMB 6INIT3
� Pecaoee sheil noi exceell tfio Eolloving maximu� aoirbined
� (family) household incomo per year:
� ' . T��e v=
� INCOME LINITS
? Apt11 1� 1983
YNCOMB
ti RANOS DORMITORY 8'NDIO 1 86DR00ll 2 HBDRGOM 3���BBDRM
Low $0-10,081 $0-12,601 $0-17,642 80-22�682 $0-�0,213
: Mod. 0 31,3�1 �5,878 20,�1� 27�Z19 '
� 0 20,559 28,783 3T�007 49,342
¢
� Niddla 0 20,559 28,T83 37,007 19.312
� 29,?18 i1�605 53,493 71,323
7
i C. 116S8T LINITJITION
s
` flouaehold asseta shall not exceed 5200,000. �laseks ahal�
� lnclude all prolesaional and businesa equity !or both aelt-
employed peraons aad iave8toss.
D. OCCUPl�l�iCY ST)1NDARDS
z Table VIi seta lacth tbe standards tor the number ot
f bedsooms to accomnaoddte a tamily of a giveri size. Tbese
s standarde shall be used When ct►lculating amployees per anit
and priocity fos rental.
9
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TA9LE VII
OCCf1PANCY S'rANDAftb
April 1. 1985
tllli '�8 OCCUPANCY
DORNITORY 1 �
STt1D20 � 1.25
ONE BEDROOM 1.75
9F10 S�DROOM 2.25
TNR�E $�DROOM 3
B. VERIPICATIONS
ProoE of residency and employment shall be provided by...
� 1. Fadecal Tax return focros.
a. Applicant must providQ the lest twa (Z) ysara
� of Paderal tax returna. a financiel etatement
. or acceptablQ documsntation to !he Nouaing
Authocity.
b. No greatec than a 20t di8crepancy batween inrome
reportQd on tax cetutns and curc@nt incose
� ntatemenee wi11 b�e accepbed without accepbabl�
docu�ontation o! the discrepancy.
2. efaployer vociEication.
3. 6andlocd verLEication �psoo! o! residency,
pbysical addcQSS).
�. Valld Colorado dcivar's [.icena� (add�e��
i�aue data).
c S. Post O!lico box.
6. Telephona (date o! installation, person _
; listed to).
7. Vahlcle i�surance and cQgistration.
8. Voloc regiatration.
i P. PRIORITY
� 1►11 tenants shall receive priority accocding to tha tollow-
ing achedule:
1. itesidents o� tive (5) years or mose Wltb a mtoimwn
occupancy o! one person per bedroom.
2. �ro (2) to iive (5) yeacs o! reside�cy w3tb minimum
occupancy of ona person per bedcoom.
3. Two (2) or more years ot residency vithout �alnimu�a
occupancy o� one pe�soa per bedroo�a.
0. Fewes than two (2) yeass oF restdency wilh minimuw
oacupancy of oae pesson per badroow.
5. Less tbat two (2) years without minimua► occupancy.
10
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6. Gmpioyers may leasp units in ne�+ proj�cts tn the extent
detecroined on a special review basis and the extent of
, the restrictions will be identified in tt�e covenants
With the foliowing li�oitgtions:
a) gmployer� shall bp the last priority.
b) Employers may not evict an empioyee if empioyment
is tprminated by either patty.
c) Employer must sign an Agreement with the eousing
i Authority defining the rules an8 obiiga�iona for
� the leasing of a unit.
• a. 0'1R{ffit CONDITIONB
1. Sxistinq dee8 ceatricle8 uni�e may inoreaee centa]
� rate by 3.3l.
.,� 2. Priocity for handicapped uaite ahail be gtven to
handicapped pQraons wlfQn aqual longth of rQOidQnay is
�:.,:;� established.
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PART III
S�LS gOUSING
Sale 8ousing Guidelines est�blish crit�ria for persons purchasing
employee unita. The intent ig to promot� and maintain an
inventoty of affordable ownecahip units for Pitkin County �
employees, senior residents, and handicapped persons.
A. PROPIL� REQUIREMIENT5
To be eligible to purchase empioyee housinq a person �uat
' quallfy as...
1. M employee or,
2. !1 senior reaident oc,
� 3. A handicepped peraon.
; 8. INCOMB LiMI28
A person aha11 no! excesd the foilowing aaximua combined
(family) househoid income per year:
TABLS VItI
INCOlIB LIMITS
. !►prii 1985 to April 1986
INCOMB
. RJINGB DORlIITOttY STUDIO 1 BBDROOR 2 BBDROOM 3���BBDRM
Low SO-10,081 $0-12,601 80-17,642 SO-22,682 $0-30,243
Mod. 0 11,3�1 15,878 20,41� 27,219
20,559 28,783 37,007 49,9�2
, Middle 0 20,549 28,783 37,007 49,312
{ 29.718 �1,605 53��93 71,323
(NOtei A household below an i�come limit could quality tas a
� h�gder priaed unit by supplying a larqer dowo paymene os a
coaig�er.)
; C. 11SSBT LINLTATION
_ Houaehold asaets shall aot exceed 150t o! tbe purchase prica
o! the unit or S200,000 wbicheves is g�eater.. Assets ahall
include all protessioaal a�d buelaess equity Los borh sel!
employad pecsons and inveatore. ,
. Aoy purcbaser who has assigned, conveyed, transterred, or
othervise disposed ot property within the last two years
�►ithout Fais coasideration in order to meet the asset
limitations shall be ineligible.
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D. OCCtlPANCY STANDARD
�able IX sets fortb the standar8s for the nwnber of be8rooma
to acco�mnodate a family of a qiven size. These standacda
shaii be used Wh�n calculating employeeg per unit and
priority for rental.
TAbL� TX +
OCCIIPANCY STANbAl2D �
Aprii 1985 to April 1986
UHIT TYpR ACCIIPANCY
DOR!lITORY 1
STUDIO 1.25
ONE BEDROOM 1.�5
4f�i0 B 6DROOM 2•2 S
TNRBS BSDROOM 3
B. VERIFICATIONS
Proof of residency► empioyment, and incom� ahail be providad
by...
' l. Pederai Tax relurn forms.
e. Appliaant ous! provi�e the lait two (2) yeacs
o! Pederal tax ceturna, financial statQment o r
acceprabl� documentation to tht Houainq Aulbocity.
; b. No gceater lhan a 20t diacctpanry bttwean incoo�
reportsd on tax retusns and cucrent incoine stalr
ments will b* accepted withou! tdorough documanta-
tion o! tAe discrepancy.
- 2. Bmpioyec veritiaation.
3. Landlord veritication (pcoot ot residency, pbysicel _
' addrees).
�. Valid Colorado driver's License (addcess issue date).
5. Post 0!lice box.
6. Telephone (date ot installation, psraon listed).
7. Vehicle ineuranco and regiatration.
� 8. Voter regtalration.
9. Deposit ve�llication - shall be vesilied by the
institution holding tha luads tos the do�n paymenl.
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P. PRIORY'tY
` All tenants shall receive priority aacordinq to the follav-
ing schedule:
2. Maxfmnm bfd price.
2. The foliowing shail have pxeference and enjoy such
in the folla+ing priority:
a. Persons with an ownerahip interest (joint ot
tenants in common) in the unit. The purchase
price for this intereat muat be equal Eo ot
greatec than all other �tas offered (but noE
exceeding the meximum appceciation).
b. Peraon(s) chosen by the remaining owner(a) !o
purchaa� the intereat of anoihes owner pcovided
� lhat he (they) make a bia equai to oc greatsr
tban ali other bids csceivsA (not excasdlnq tht
maximwn appreciation) and all owners (aubeequsnt
to sale) wiil meee all current quelificaEions for
� a houaehold.
c. Spouses of current ownere.
d. Any ownsra o! hoasinq uoder a eouaieg AuthoriLy
Resele Agreemen! speciEically giving th• owner a
" pciocity ovec other applicants Eor reaicieted
', houeing unita.
� e. Thos• appiicanta who hav� been t�nants on tb•
sitt ot a new employae bousing project and ar•
diapisced due to !he conslcucrion of tihe new
projea! or th@ conversion o! an existinq projeat,
provided ehat:
, 1) Tbe tenants have lived on the eite ac in tha �
� uoita for a minimum o� six t6) months betore
• the sbactiog date ot conat�uctlon. cooversion,
; or approval !or converaion�
,
;� 3. Reaidants oE tive (5) or moce yeass witb a minim�m
occupancy o! o�e person per bedrooa�.
1. Trro (2) to Ilve (5) yeara o! cesidaRCy with minimum
i occupancy o[ ona persoo per bedroom.
; S. �ro (2) or more yeara ot residancy aithouk minimwp
occupancy of one person per bedrooa►.
6. Fewer lhan two (2) years o! residency vitA minimwa
occapan+cy ol one person per bedrooa►.
7. Lass than two (2) years without minimum occupancy.
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8. �ployers may lease units in ner► projects the extent to
be determined on a gpecial review basis and the extent
of th� restrictions M��.1 �1@ identified in the covenants
Nith the folioaing limitationgs
a) Employers shali be the last priority.
b) �mployers may not evict an employee if employment r
is terminated by either pacty.
c) Employec must sign an agreem�nt defining the rulea
anc� obligationg for the leasing of a unit.
a. OTHER CONDITION5
1. Poc the pucpoae of assigninq ptiority, the higheat
number of yeaca of residency held by a spouee, or any
� person acquiring an ownership intecest, wili detecmin�
a - • into which category th@ applicante will be ageigned.
- 2. Debt/income ratios, inciuding ail liabilities, sMall
� not exceedi
_i
, a. 28-3�t of tolai income allocated �or aervicing
:• houaing debt and rolatod obligationat
b. 3�-38• o� totai income foc all secviceabl� debt
� added to loan 1lability for the purpose o� calcul-
, , ating ana adjuating the Minimum Required Bowehold
• Income (M.R.N.I.).
� 3. Any ownerahip int�cest othec tba� joi�t tananay oc
tenancy-in-common may b• appcoved by the eouslnq
Auihority.
1. All transectiona regacding !he conveyance ot any o!
the uoito ahall be aubjack !o the Resale Agraem�nl.
5. Co-signars may be oppeovad !oc ownerahip pcoject� but
shall not occupy the unit unless qual3Eied by the '
8ousing Autbocity.
6. I� there remain unsold uoits WLthin a projact, tbe trro
v (2) yaar petiod may be reduced by six (6) montb
intervals until all units are sold.
, 7. Onita xith the higbea! bida o! egual amounts and egual
prio�ity status shall bs placQd in a lottary wt►ich will
' be held tollowing tbe deadlinc tos b1ds.
8. priority !ot handicappad unita ahall be givan to
ha�dicapped persona when eque� length o! reaidency
1s established.
15
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SiI�SL�"aS�Y
Assets - the market value of, or equity in, real property,
savings, bonds, stocks, and other foxais of capital
investments. Asspts shali includ� all fixed and liquid
assets excluding persanal effecrs.
Capital Improvements - any fixture erected as a pecmanent
improvement to ceal property nr to add to the value of
the propetty.
Cacetakec tinit - an appcoved additional d�►eliing unit not to
gxceed tWO (2) bedcooms nor exceed aeven hundred (700)
sg. ft.
- Co-signer - a joint signsr oE a promisaory note.
° Coneumer Ptiee Indax (C.P.i.) - for A1� tlrban fiaqe Barners and
-. 4 Clericai workers (CPI-ii) U.S. average - all items.
S
� D�bt/income ratio - the raLio of ths montMly secviceabie debt as
a pe�centage of grosa inco�ae.
Docmitocy - a buiiding or apace wilhin a building which providoa
gcoup eleeping accommodations !or a family or uoralatod
� individuals in one room or in a se�iea of clos�iy
; aasocialed rooms und�r �oin! occupancy and stegi�
! management, without individual cooking lacill!!er but
� to include coa�mon livin9 area;.
Bieployso - to quality !oc employee houeing an eo�ployee is deEined
as a peceon who works a minimwa oE 30 hours pec week
9 months per year and who mey or may no! 1lvo in�ido "
Pitkin County.
- tor tbe purposos of calculating employee generation
� a ful� time emp�oyee equivalant (E+TB) is a peraon who
wosks 2080 boura par yeac (173.33 hrs. per mo�. x's 12
mooths). •
Squily - that i�terest oc value remaining in property atkec
� payme�t ot all liens or othe� chargee on the psopesty.
7►n ovner's equity �o his or ho� property is nor�ally
the monetary intarest the w+ner cetaine ovar and above
tl�o mortgage lndeblednesa.
� Fieancial statamer►t - a statement settiog forth peceonal aesets.
' liabilities, and net wor�h ttbe diffarence berveen
assats and liabilities) as o� a speciFic date. -
Fixtuse - An article vbicb was once personal property but bas
been so affixed to real estate that is bas become real
gcogerty.
16
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Gross income - the total income dprived frata a buainesg or from
income-producing prope=ty, befo=e dednctiona for
expenses, depreciation, taxes� and similar allovances.
gandicapped person - a person shall be cnnsidered handicapped
within the meanieg of Section 50� of the Rehabilitation
Act of 1973 and C.R.S. 24-34-301.
Joint Tenancy - a unit of interest in real e�tate that is owne8
by two oc more persons wieh riqht of survivorahip.
Leasehold interest - a less than Ere�hoid estate Nhich a tenant
posaeases in real property.
4ottery - a dr�wing of lota which selects the Minner from equal
applicants.
� Maximum 8id Price - calculation of purcbase price timea the
; appceciation (C.P.I. or 61 identifi�d in the rsaele
: agreement) pius recsipted cepital improvem�nts costs.
� Minimuw Occupancy - one peraon (with a leaaehoid/ownership
° intecest) per bsdroom. A minoc child or dspendent
' ahall bs g�anta8 equal status.
Ntt Squaco Post - is calculalod on net squaro Ea�t oE livSng area
; (tnterior aeasurement).
� Owaarahip intecaat - a le�s than Ece@bold estcte whieh an owntc
, possess in reai proper�y.
P�coanont Modacara 8ouaing (PMN) - low, modoral�, and middl•
housing t�oe tcom spaculativ� l�vastm�nt and ! o c "
primasy cesidence use by sanioc reaidents. the Aandi-
capped, and tbe dieAbled.
Reaale Agreemant - n covenant entered into between tbe Houaing
Authority and tbe purchaser at the t3me o� cloaing
idenlityi�g the conditioos o! oecupancy and cesale.
Etcsidancy - cumulativo length o! cosideacy within the last 5
yeacsi need oot be continuous os immediately prioc to
i
date oE application.
Senios - a person reaching the age ot 60 yeara.
Tenancy-in-common - ovnership oP propecty betree� two o[ more
pessons +rbo hava so individual interest in tbe wbole
psopesty; no rigbt of susvivorsbtp, vben one of the
cotenants dies, tbe intesest passes to his or ber heirs
oc benefici�ries and not to the sucviving tenants i�
camaon.
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l�PPENDIX
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M6TNODOLO(iY
POR
F�<`j� WMPtITATION
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ME1Tf�]OLOGY HUISING A[T�IQt12'Y GUIDE�,INfS- 1985 Page:l
Eac3� year the floising Authority is asked to update the ha�sing
guidelines. Updatfng theee guidelines involves revie�+ atK3 adjtiating
wherp �pplirable, Inoome and prioe rang2s as applied to the
pceviously adopted guidelines.in �xior years Where ro survey is
ampleted, pria� and incaoree categories are adjusted by the �tner
Priae L�dex (tPi) for all ucban wage and clerical r+orkers. 7t�is
ya�c the (�I change for Jan'83 through Jan '84 is being �se�d,
�+hich incceaged 3.3g.
'ib hplp you folla► the methodoloc,�r as to ha+ thes2 guid2lines aze
calculated. wb[ksheets l�ave been pcepared beld► to sha,r Y}�
ooa�onents of the ralculatia� and ha► th�y interrelate. TMese
guidelines aze u�d for bath anplcyee sale and renral units.
Fwe twve broken out the vazious components into the follawing
catcgociess
1)Aa1tLSTIt�G At�ID 0�1'ERlIINING 1985 � RANGES.
' 2I'145TII�1G RHE t1V�l�ttANGffi oF �I�[, t1N4'rs E�Oit DE'1FRl�tn4cR
t OP AVA13J�63LPPfC.
� 3)4t�TtI�iC 7HB INQ7M� Ett1NGE3 Q[+ Pllt�lA4�UNPri3 FOEt �ElfltMII�III�G
� t OP AVAII�BII.ITft.
f 1111�UBT!l�IC MD D�IERlQNII�G 1985 IIdaOME RIINGE�.
inoane canges are used to detecmir�e if a person can qualily to
buy oc rent F�pitoyee Nouaing iE a peceon C�he1d) should aarn
° more tt�an !he aooeplable guidaliras foc a psrlialar typa u�it .
; tlan that perscntfaaily) ia rat alla+cd to cent oc purchaee th�
; tnit. A parn� can aarn less �an Fhe ailwablt inaane, and lhru
!bt use oE a larger down paya�t or ao-sic�er, can qualily to
pucd�sa@.a u�lt, o[ ie the caae a! tcnt, decida on a large[ u�it
andpey mocs tlbn the roaa. �eae guidelines ue ma�vit pcimari�y to
. k�ap high wago mrmra out ot tha aaplayaa units designalad !oc
lowec ltioome.
. 7l�e ticst etep !e detern�ining the Msxiaiva Rllowable llousehald
� Rarge is to adjust the Mnxia�ua Household Inaane per
ctussutcacton.
. lo1XDl1l1 flQ1St�.D II�1�lS (l�HI)
(P� l� �d 9uidslin0s)
II�1�lg Q>I t A�i�1�
` CIJ1SSiFT01TlR�1 84 !HI II�1(7tFJ1S6 1985 !NI
' i�t 59.759 3.3Q1 510,081
�8 515,922 3.301 S16.N7
' !lIDD6B S?3•015 3.30i SZ3.774
'fiis !NI is next aFplied to tt�e ooamancy factor (peceoos per
hous�old) to calculate the !l�xim�m Allarable Aa�o1d In�xuae Li�ait
per d�relling type•
OOmPANC1f Fi1L'1nR (PP.i�S PF3t HWSDiQ.D)
(per Pitk.ir✓Aspen Plannin9 DePtI
: OWFZLII� SI�E PPH
DQRIAI+Q[tY 1.00
S11JDI0 1.25
1 BQIiOCM� 1.75
2 8�00l1 2.25
;: 3 SP.[I�OOM 3.Q0
S
r
S
. ,_��_. .. . . �
�
�.=.
:Z�:'' -
r''�-�`�°'.
3zr_-:tif��`
; =+r.;.
''�r�-;.,.:
�:s w.��'::�.".�;i
e��' '
���
�.l:�f,�::
, � <x'"
#: � ..4 �i�i
.._t+r sr .:u.. ,�.�:r� . ..
�`.���'� �'�' •'�-�-,���i4��9c����*�..
�13 v�:,.
t�iHa00[AGY HQISII�G 1�IT1HQtiTY GUIDEI.IIdt�S- 1985 P�ge:2
MA7LIlZA�i At�iABLE HO[J�0[� II�1Ctk� PF1t L�IETi,IP�
1485 t�lAlCIM1N HOt1SF�.D IIiO�E {i4ti)
(PPH X!f!I = Mt�I1M ALL�IABLE BQJSFiiCxb IN
tIrJFId,lt� SIZ6 PPH
510,081 516.�97 $23.774
(Llxi) (M10�bf'�t1�1'E) (llTLtlL$) t
DdtlI1R'atY 1.00 $10,081 IyJI► WA
� SZtIb20 1.25 S12,601 $20.559 529.718
1 Bf7t�00M 1.75 517,642 528,783 S41�605
2 SEZl�OOM 2.25 522.682 S37,QQ7 $53.493
3 BF1I�OOM 3.00 $30,243 SA9,3�� $71,323
.
9he inoon�e developed c�esents eMe t�igh sida oE the MlytIM/M
� A[t�tABtE HotJS�tOtD II�10ot� ttAN6e per c�+eilis�g typa. 9ltiis is anly ons
side of ehe range neecled to dBeenains Inoon�e qualificatlons but tbe
moat critical, ai�x�e if a ho�ehold carns awce per calego�y lt�ey are
z not eligible Eor ehat type unit.
{ in priot years the Namtnq Authority ceoog�ized that such aaxinMm
canges do not integcats we11 vith other rangas, eEfectively sf►a►ing
gaps in tMfse rar�gee. Reoo�isin9 this ekcwing et'laet !he aulhority
adoptad !he Eolla+iag pollcy: 9HB LQi F1�ID OF 711B MDDP�IIE D�i00l�
RAt�iE YIII.L GVF3t[J1P 711fi 90P kaiD OP'OIS LW II�1�l� RJI1�E BY 101 E�t
N�L�iEILD�i TYPFSr JI[iD 1NB t�i t7�D 11ImI.E �!S iW�R'B NILL BB'iD�l
M'�iB 70P fIm OF 71iS lG0�148 II�Iml6 NMGB.
6uch a policy will halp mota �w ard modecate inoune�+a9e earr�cs
�ual:f,, rar�ge�wMce t�e aast noed was deeenainad
ec t:�lst. �is table is used !oc both canlal and sale aaplayea .
u�its.
7he li�al inooa►o canges appoec belcwi
WIWIlA1]1LLONIAHI.E flOt1SF}IO[�D �Jf�l� R1N�F5 FOR 1985
�!6 (TY� aVtILII�RiS)
QJ►�IFIttA�ION DORN b'lUDIO 1BQW 2BGRl1 38�111
i41
-!�l SO SO SO SO SO
W1X 510�081 512.601 51T.642 522.682 530,243
l�DFitA0.E
-MN SO 511,341 515,676 520,414 �,219
!Y\X SO S20,559 528,783 537,007 $49,342
l�.E
-!!ai SO S20,554 528.783 537,007 $R9,342
!!AX SO 529.718 $41,605 553.493 571.323
� -
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,'j� ci,.t� ,,,�'A.j'+�•"se't•��P�rfiyt•s 't� ia�y�; "�'+-�1.-�._,
- �'€� •�,� y t��;� "'"�3'�� r � �` � � r��1.�.���.. .
�5 . �d �'�s: � + � �+�. ' .� •. �.
� '�fT t. ) '� C F " ,� 1�+1_.M
� � 4 i�tJ_ ��.�.._�a.I.4� .cF.. �� w£+f^..it�:4i` : . . '.. t�r � "
tfEffiOUOtAGY t1U1'SING AtTI�(R1TSt C�JIDPt.INES— 1965 IYac�:3
2b see if e� person quali£ies fac a p�rticulat typ�2 c'�►elling, the
Nousehold Tn�ome is detecmin�] thps►matcfied�rith Che applicable type
d,relling in whirh the gousehola Inoome Woula gualiiy.
poc itLatanoe if a Housd�oYd Ttroame Were $25�000 a yaac he Wauld bx
eligibie to qualify for the follaring type c)wellirgs:
I) A 3 Bedroo�m Low Income Houcing (O to $30,000t 525,000 ig bela►).
2) A 1 8edcoan Mnderate tal�o 2 � 3 �dcaom)t515►873-528,783f
$25,000 ie aithin the rang�+).
3) A Middle 2r�oome Stucllo �520►554� 529.716= 525,000 is within
cange).
4hat Hamehoid inoane of 525.000 Would WOr qu�l3fy for
1) All low inoon�e Ooctn� 3tulio, 1 i 2 9eckoans.(0 to $22,682s
SZ5.000 is abwe the 8efit�d range)
- 2? A �bd@rate inoane Srudio (S11,3�1- S20r559= 525.000 is above !bs
range defined).
� It sl►ould be aLresecd thaE a twus�hold with 3n�asie bela► the rarge
` aou18 still qualify tor blgMar Snaane typa dw�lling tbru eithwr a
lacge down paya+erst or o�siep�r !n the c�ass oE a purchase ar tl�e
desice tv ooevpy e letgQC u►!� emd pay more rm►t foc a centsi unit
if �desired.
Nat thnt th� Is�ne Rangaa ate dntanained i! is neoeaeary 6o eae
how lheee rangea Eit into aooaptaba�ifmits foc rantal and
puurchaeed uttts. Oonaion to the teat foc renkal erid puc�aaed teits
ac� !he squsra toot rargee bY dwol.lin9 tYP� bY Ii�
ClaaeiEicaticn.
. �!)11RE FC4T UGQRJn'tQl BY C7�IQ.L�G TYPB J11�D Irlml� �
iRil tOOF�tMB lQ�LB
�+TS.LII�'r 1Yt�6 (Ili�l�Q+M1S'SIFI�71�'IQJI
. lfIN !!NC lSIIi PYIX FIIN lYIX
::
OORt�lORY�+ � �150 N/A 1i/A W1�
� S'lU�IO 400 500 400 500 500 600
1 Be1e00M 500 600 6Q0 700 700 800
7 2 8�ia00M 650 654 700 1000 900 1000
3 8�I100lf 850 1000 1000 1100 1300 1200 -
*+r By detination Dotmitosys ran ortly be Lw Inauoe.
2I�s'ritaG�E itaod� x1�G�s oF�arraw uN1zs Fo[t net�lartu�G
i OF AVl1TLI16IL1TY.
Nw tlwt we have the aqw�re foot ranges for �oaplvyee housinq �u�its
by inaome 1.YPes we finrl khe renkal aost pe� equare foot. 4noe again
wt�en r►e do not take a sucvey. ve use tbe priar yeac rates and app1Y
� the CPI to thea.
i!
•.;t�
,.�,;�+,:�..,-�._ _ •. .
. _�i.�7i"—
_ � .
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4,r? .-
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. . . "� � � `�� � �} � ��..
, �� �t�� -�:F �+r�'-'
� .. ��
{;. � ••{,y,t'`T�L`�wt,.�y,�.� 'l.3 ������ � r�.g(�{ '�'" . '-�'`� .
'^'ti`��' P�� �..,.s.�^ Y"'s+�r..�.:�f_.rv�:i_. .3+. . _ . ,. ........��..�.a.� .t. �
LNEIgODO[.OGY HWSII�G NlIliCttI2'Y GU3DII.II1�S- 1985 Page:4
Rt�i�TAt. R?�7F5 Pflt 9Qtll1RE ta7f PFit M�V�
INC� 1964 1985 1985
CLASSIf I(�1TIOlQ FAYE (pIi 5Q FT RAlFB
���i7H
LtAi 50.58 3.308 50.60
l�YF1�8 50.82 3308 $6.85
MIriDLE $1.13 3.30t $1.1�
9fiet�e rate� are then muitiptic�l by 12 to annualt�e the re�al
d�acg@.
A1�iitlAt i�N�t. RA�
� 1985 arutue�l
; 9Q Pr tiJ�E rate per
P�6Et MON� x 12 = aq foot
;� I/M 50.60 57.19
� l�GDet(�g gp.85 $10.16
MiDOt.S S1.1? $1�.01
�ese amual cat�s ace multiptied by tht aqunce footegt
- calculations to obtain t!�anm�l ao�t oE renti per wlni�ua and
asxlm�m squace loot guidtlines bp �YP� o! inoaoe clsssilScatian
± and �ellirg type,
;
#
. �tlUAL CA6T OF R6N7'PE.R 7'YPB OF LWFIi,II�1G 11lO A�ICOlB
� (amusi aost psc eq tt x aq tt pas dwelli�g i inoome ti
r (�► lCC�l�B lQIO[�B
� Q�LII�'i 17fp8 (Il1�lB QJISSIFIC11�1�1)
-�
!QN lQ1K !@i MAX llal „ ltl1X
� DORl�'lORYi* N!A WA W1► WA
# b'lUDIO 52•876 53�595 5�.066 55�08t S7r00� b8.404
.'>
� 1 B��ON S3.S95 54�314 56,099 57,115 tr9,805 S11,Z06
" 2 BEU1100N SC,673 56.11� 57,115 S10,165 S12,607 514,007 -
3 B�[i00!! $6,111 57,190 S10,165 $llrl8l S15r108 516,809
*+Sy deEin3tion nonaitacies can only be La+ Inaome ar�d will not
t�ave sanges.
�
�
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t
a }
.-3
...;� _
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;-.•_-.� -
sr _: , .
y°� a .
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, ' : �t�� ?,����;�"�� -�����s�"'�`'�*;
�. ,..r.-`:`��..�+:%.�'#'��_ _ _�.�.;::��.. .�._ _ .�'t�as. ��� �.�����```�'�
MEi80�DLOGY H(7[JSTNG AFT1HQtITY GUIDE3.INE� 1985 Fage:S
�e t�2xt step is to take the arnual rents 6y type and
cc�rrelate theae rents into the amo�a�t af inoaae a house�soid shoul8
earn to be abie to affocd the cents generated by the guidelin�s,
As a general rule of th�mb the Housing Authority acbpted an
affocdability tatio of �rned ir�cane (gross) to rern. 7hfs ratio
trhich wag adopted fran othpr generally aooepted guidelines is
30! of itwane to tent. As in all ratios this one can be a +/-
of a a2ct�in$, vf�ich representa the ability and desire of �eopl�
to pay mot� oc less than the inoane teguired.
ApplYirx) U�ese centis to inaxi�e requir�d tesuics in the foilowinq
table.
II�1�6 RE�tJIR�1 F�t NOt157NC
` t�,1�LII�G TYPB (bas�ad on 301 affordebility tatio)
KIId M!1!t MII� !N% lIII�1 !Wt
' �� WA WA WA N/A
S7t1Di� 59.596 $1�.983 513,553 $16,4�1 S?3,346 528�015
1 8�i00q 511.983 $U.379 $T0.329 .Sxi.718 $32.681 $37r333
2 8�1100M 515,578 $20.371 $?3.7I8 �,882 $42.02't $46.692
. 3 86�100l1 $20e371 $23,966 $33iB82 $37,271 551.361 �¢56.030
��J thsse pscaeetars we tl�an�lct� ehaa to ehe MsxiaN�u Alla+ablt
Bou�afwld Inoom�Ree►�es !or 1985 and eoa wha! • o! !M a!locdebi�
inoome roquira0 is wlthi�the gutdeiiiwa.
y ��MR'IY�iOM� K M{7W tfl0`���1YpWOYii�� ii�MR'��v1Yv�rri
/���pQ �Yl�*i{T9y�
� {{ii'a 3�t�i/YV��
QJ►SBIYtt7�a'iW S1Wt0 30t or < 18CEtM 30i ar <
'$� • inaanno • inoaae
„ �r inoome witAi�► per irioane within
ielne requited guidelra guidel�a cagui�at guidelna
;c I.Qi
-!�1 50 S9,586 24i SO 511.983 32i
!WK 512,601 �11,983 517,642 514,379
!lDOER]I48
-!QN 531,3�1 S23,553 76t 515,878 520.329 66i
NA�f 520,559 S16,941 S28,T83 523,718
lQDOLB
-!S[N 520.559 SZ3,3ab ?0► 528.783 S32e68i 70t
FWC 529.718 $Z8e015 $41.,605 ,437�353
;�
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.�...:.,.a w-. y.�i . _".....� ...+�-ief�;a'���.a��k"�x.eYdiH n+ . .. . �,�. �-..�-_.�'N� ... ... �
14'�OL.OGY 8QISING 1ltT1HQtITY GUIDELIIQt�S- 1985 Page:6
INCUlE
Q.�SiFI(�'CIC7N 2tyidaa 30k or < 3bcl�m 30! nr t
! irtaane 3 i.t�
per ir�rxme Mithin per imm�e Within
guic3elne required guidelne guidelne ce3uited guideln�
LQ�►
-ltII�f $0 $15,578 31! $0 $20,371 33t
MAX $22,682 $20,371 530,2�3 $23,966
t�nOPdtA(PE
-tID�t $20.�1� $23,718 80f 527►219 $33,882 70t
lANf +437r007 $33,882 ,�14,342 '$37,271
Nf�Or.B
-NII�1 $37.007 $�2,022 90► $�9,342 951,361 91i
MlUt 953.�93 $�6,692 571.323 556,030
,; Zl�e pcioc �alysis eMaws the i of inoans rstegccy which could
; aEfocd the unit with an exparid�tur@ oE 30f oc iQas o� hot�ehoia
inopoo. �hio t witl increass in all r�atagories should the cmiter
decida tc eperni moce t1�an the 3C1 aEfordability retio.
7his !s e�claily true oE a11 low inooma caEagocies, in whtd►
aituetian alI paopte oHtnirg Ims inoans will p�qr a high@c 1 oE
.. lh�ir inaoma t+� cer�t sino�a cer�is will and can only go eo low
whLle aacnod inoan� can be minlm�m wags. 7b reaeh a largec
_ porticn o� all lw 3noane waga ear�rs would takt oonsidarable
atloc! ie t!w Eoao of wibee�u�tial subsidiea nob preasntly
available. 7b pu! this in anolhac ptr�lvo a peroon earnirg
' 89r586 (ths law inoana �nd cequlcad Eoc a sbudlo) eatro th�
�qutvalant o! SA.60 p�r hour.
Ir b�oomes abrrious ihati D�r�►itocy liousin9 ia the anwer !or
those lw wage earaacs. an aleerroEtvo which doaen't axiat !o�
emplaye�s at the pceaant time. wikhout thne altern�ttve !he on�y
olFier opt.ion �ar !he lw� enrn:c ia to live wtth eeveral ol��ar
- p�sopte in ona unit.
3)T@tTA�a 7H6 � RAt�RiES OP'PIACCflASm DNi18 POR qElffit!@III�1G
i GF AWIIIJIBII.177.
7�s aame logic is tollared tor the teeting o! inoane rargee tor
purdiaaed �s�1ta, rith sli�t exceptiar�s for the dtlterenoes o[
purdiaeing vs. re�tng.
AJR�1A4Fa PRI� PFR 8QQlutE E�dP
_ II�IQ1kB 1984 1985 1985
QJISSIFIQITIGN 1tJr18 Q+I 8Q FT R]!a8
PBR l��1H
LG 565.00 3.30i 567
MODF1tA�lE 590.00 3.34i S93
AIUOGE $127.00 3.30i 5131
�
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a � �i ��r�"
�.;i ,4.y�� '. � x...a �� 9 I I:s ;�': .
� �4 it.e�.,- �^�.. s�'�'..��,� I
. . +t1�',- O s- lT . i -
. , �� . _ . a�'� . . . _ ..
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I+�`1HQA��'aY H00S71�i AIT�I�tI'1'Y GUID.�7.1I�� 1985 Pd(]227
PtlR(!lASB ISRICS PE�t 'PYI�l.*�IIiB,LII� AtID INlX7lS
cP�d�ase prine pec sq ft x eq ft per c3+eiliny t inoome type)
LQd !�ltA�E lti�068
tJiffitTt�: TYPB (IN�QASSIFI(ATIQ�1)
11IN lQUf Nlti MNX MRN !WC
DdtMIlCttY**
S'itlDIO. $26,858 g33,S13 $37,188 5�6,485 565,596 576,715
1 B�iCOM $33.573 $�0•287 S55,782 $65,079 $91,83� $1M,953
i 2 Hffit00M $43.6A4 $57,073 $65,079 542�970 $118,072 $131,191
f
� f 3 BffixeDO�M $57,073 567,145 592�970 $102,267 �144,310 5157,�29 •
� ** Donaitoci�s are not ard would no! bQ available Eor sale
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As before with ceakals ae next take the pwrchase pcioea p�c
ttw guidslinss above and ooccolate t,heee purchase prioes into
- � !M aaaat oE ina�oe a hou�hold ahould aarn to quniiiy !or a •
`: mortgege.
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II�KGlB R�Q�EOR 800�BII�G
; W�LII�1G TYPB (!�d on 28i aElordebility ratio)
� !@1 lYIX 11�1 lQ1X MD�1 lY1X �
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� b^1WI0 57•520 89,100 510,�13 513.016 516,367 5�2�0�0
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� 1 B�i0011 59.�00 511,280 515,619 $18,222 825,713 529,387
- 2 B�iL10l1 S32.Z20 515.981 518,222 STb.032 533r�0 536.733
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: 3 B�tt00K S1S.981 518,801 526,032 528,635 540,407 SN,080
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�►e lignres reIIect the inaane ranges needed to theoretically
f quality foc tbe applicable�e�its b�need an the 28t affocdebility
ratio. Mie will next eee hw they aaapnce to the llexiun Allwable
Bot�old Inaane Rnr�es.
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. �[1U1N11Ri [iJl��.11lll VV�� 1JW ta�ie
' �lIC M�R1�Ca�I�L��p!��W{�l�!�lL�L�� � ��
�yy�y� LVfl��lf7��Lp�/�V�l�yl�l^p
/L�n'.R�/CL�}/� �M iJAr++p•�31�W� ��y p�
. �i�f�llil�efL1� �iy a20j_6,��r_� ii1LN7 24l�6�0r �
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per inoome Withir► pec inoane r+ithin
guifielr►p rpyuired guideltw guideln� requirec� yuidelne
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-!fW $0 57,520 40! SO $9,40Q 47=
!Wt $12,601 $9,�00 $1�,6�2 $11,280
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-t4N $11,3�1 510,�13 100! S15�878 $L5,619 1001
MAX 520,559 $13,016 $28,783 $18,222
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: i -!@1 520►559 518,367 100! 528.783 925,713 IOOi
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Mi�t $29.716 522,0�0 $41,605 $29,387
� QJ1SStPIQ1�I0N 2B�l1 28t O[ < 3Btrtq 28� OC <
t s,moma s tnoome
1 par inooms wlthin per inoana within
gui8elne requiree guidalne guidalrw c�guic�8 guidslne
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� � -!�1 SO S12•220 �6t SO S15r981 47�
; l41X 522,682 515.981 530.243 $18,801
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� -!�t $20r�1� S18�Z22 100� $27�219 $26�Q12 100!
!NX 837.007 526.032 $�9.342 528�635
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� -1@1 837.007 S33a060 100� 549,3�2 S40•�07 1001 .
W►X 553.�93 536,733 571.323 �SN,080
�� In a��ost all ca�es, 100t ot tl�e inoano saqulrad is witbin!M
g�,�dslinos as adopted by tl�e Nousing Authority. ahwirK� that r►e are
� in tact on tacget !or teatiag purpoees and tasget populatlon.
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The Aspen Times
Box E
Aspen, Colorado
PROOF OF pUBLICATION
sr�re °r r°�°w►n° � Copy of Notin
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