Excerpt from: Vail Real Estate
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| October 05, 2006 | | Avon affordable housing fund built with construction money. | Avon's newly created afforable housing fund has $1 million in it. The town has hired RRC Associates to conduct a Housing Needs Assessment, which is expected to be finished in November. The results of the assessment will determine how the fund money will be used in the future for the benefit of affordable housing in Avon. To date, Avon has required that almost 900 deed-restricted affordable housing units be built. The affordable housing fund was created with money from two projects under construction in Avon- The Gates contributed $100,000 and Riverfront contributed $846,000. Avon will be adding 256 more units at the Village at Avon, 17 at a pair of downtown developments, and the potential for another couple of dozen units in forthcoming projects. | |
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