Town Council searching for ways to increase employee housing stock

Vail is growing.  Current development will bring an added 2,115 jobs and the construction of these will require 1,500 new jobs.  Unfortunately, the number of homes for employees is going in the opposite direction. 

The following tools are being considered to provide housing to workers.

1.  Council may require developers to compensate for jobs tey create by providing affordable housing, called linkage.

2. Town could require developers to set aside a certain square footage of their development as on-site affordable housing, called inclusionary zoning.

3. Developers would be required to pay a certain amount for each square foot of new development - impact fees.

4.  Employee housing is being considered for some town-owned properties.

5.  Down payment assistance program.

What’s the right answer for Vail?  It’ll probably be a combination of the above, but locals are encouraged to voice their opinions at a special town council meeting being devoted to the issue of employee housing, on Oct. 10.

You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.