(A) Purpose. The purpose of this section is to provide occupied livable, affordable employee housing units within the Town of Vail through the establishment of an employee housing unit deed restriction exchange program. The exchange program allows the Town Council to release a deed restriction from an existing employee housing unit in exchange for the placement of an employee housing deed restriction on another dwelling unit and/or a fee in lieu payment made to the Town of Vail.
(B) Applicability. The program established under this section applies to existing employee housing units. This shall not apply to any existing employee housing unit that is already price appreciation capped or any employee housing unit established to meet the on site employee mitigation requirements of Chapter 23, “Commercial Linkage”, or Chapter 24, “Inclusionary Zoning”, of this title or as part of an approved development plan.
(C) Definitions. For the purpose of this section:
COMMERCIAL JOB CORE. Those areas located south of Interstate 70, east of the intersection of Forest Road and South Frontage Road, north of Vail Mountain, and west of the Town of Vail soccer fields on Vail Valley Road, as further defined by exhibit A of this section.
EXCHANGE EHU. The existing nonprice appreciation capped employee housing unit or other unit with an employee housing deed restriction that is being proposed to have the deed restriction released as part of this program.
PROPOSED EHU. The existing, non-deed restricted dwelling unit that is being proposed to receive an employee housing deed restriction as part of this program.
(D) General requirements. The Town Council may approve the removal of an employee housing deed restriction from an existing employee housing unit in exchange for the placement of an employee housing deed restriction, and/or the payment of a fee in lieu, as described in subsection (D)(5) of this section.
(1) Exchange EHU requirements.
(a) The exchange EHU shall not be part of any employee housing project developed or deed restricted (in part or in whole) by the Town of Vail.
(b) The exchange EHU shall not be part of any on site employee housing mitigation required by inclusionary zoning, commercial linkage or as part of an approved development plan.
(c) The property that includes the exchange EHU shall comply with the prescribed development standards (density controls including GRFA and number of units, site coverage, landscaping and parking requirements and the like), as outlined in the applicable zone district section of this title, upon exchange of the deed restrictions.
(2) Proposed EHU requirements.
(a) The proposed EHU(s) shall be located within the Town of Vail.
(b) The proposed EHU(s) shall be within a homeowners’ association that does not preclude deed restricted units, does not have a right of first refusal, does not have right to approve the sale or the sale contract, or have any other requirements deemed to be similarly restrictive by the Administrator.
(c) The proposed EHU shall comply with the minimum size requirements shown in Table 13-2 of this section.
Table 13-2 | |
Minimum Size of Proposed EHUs | |
Type Of Unit | Minimum Size (GRFA) |
Studio | 438 square feet |
1 bedroom | 613 square feet |
2 bedroom | 788 square feet |
3+ bedrooms | 1,225 square feet |
(d) The proposed EHU shall contain a kitchen facility or kitchenette and a bathroom.
(e) The property on which the proposed EHU is located shall comply with Chapter 10, “Off-Street Parking And Loading”, of this title.
(f) The proposed EHU shall have its own entrance. There shall be no interior access from the proposed EHU to any dwelling unit to which it may be attached.
(3) Exchange rate for proposed EHUs.
(a) If the exchange EHU(s) is within the commercial job core and the proposed EHU(s) is also within the commercial job core, the gross residential floor area (GRFA) of the proposed EHU(s) shall be a minimum of two times the gross residential floor area (GRFA) of the exchange EHU.
(b) If the exchange EHU is within the commercial job core and the proposed EHU(s) is outside of the commercial job core, the gross residential floor area (GRFA) of the proposed EHU(s) shall be a minimum of three times the gross residential floor area (GRFA) of the exchange EHU.
(c) If the exchange EHU is outside of the commercial job core and the proposed EHU(s) is inside of the commercial job core, the gross residential floor area (GRFA) of the proposed EHU(s) shall be a minimum of one and one-half times the gross residential floor area (GRFA) of the exchange EHU.
(d) If the exchange EHU is outside of the commercial job core and the proposed EHU(s) is outside of the commercial job core, the gross residential floor area (GRFA) of the proposed EHU(s) shall be a minimum of two times the gross residential floor area (GRFA) of the exchange EHU.
(4) No credit given. If the gross residential floor area (GRFA) of the proposed EHU(s) is in excess of the minimum required gross residential floor area (GRFA) as set forth in subsection (D)(3) of this section, the additional gross residential floor area (GRFA) shall not be eligible for use as any form of future credit or for the commercial linkage or inclusionary zoning employee housing mitigation banks established by §§ 12-23-7 and 12-24-7 of this title.
(5) Fee in lieu. The applicant may provide a fee in lieu payment to the Town of Vail for any fractional portion of the required square footage less than 438 square feet not provided by a proposed EHU, if the proposed EHU does not fulfill the required amount of calculated square footage.
(a) The Town Council at its sole discretion may accept fee in lieu payment for the full required square footage only if the exchange EHU was approved prior to July 22, 1994, and has a deed restriction that includes the language stating “if the unit is rented, it shall be rented only to tenants who are full-time employees...”.
(b) The fee in lieu calculated amount shall be paid after approval of the application by the Town Council, but prior to recording of the deed restriction release. The fee shall be based upon the current fee structure in place at the time of approval. Early payment of the fee in lieu shall not be accepted prior to approval. The approval for deed restriction release shall sunset one year from the date of approval and any fees paid are nonrefundable.
(c) The town shall use monies collected from fees in lieu to provide incremental new employee housing units.
Existing EHU square feet x inclusionary zoning fee = fee in lieu payment |
(E) Fees. The Town Council shall set an application fee schedule sufficient to cover the cost of town staff time and other expenses incidental to the review of the application. The fee shall be paid at the time of the application, and shall not be refundable.
(F) Review process.
(1) Submittal requirements. The Administrator shall establish the submittal requirements for an employee housing deed restriction exchange application. A complete list of the submittal requirements shall be maintained by the Administrator and filed in the Community Development Department. Certain submittal requirements may be waived and/or modified by the Administrator and/or the reviewing body if it is demonstrated by the applicant that the information and materials required are not relevant to the proposed exchange. The Administrator and/or the reviewing body may require the submission of additional materials if deemed necessary to properly evaluate the application.
(2) Review procedures.
(a) Administrator review. The Administrator shall review the application for completeness and compliance with this section, and shall make a determination of completeness and compliance with this section within 14 days of application submittal. Should the Administrator deem that the application is incomplete or not in compliance with this section, the Administrator shall deny the application. Should the Administrator deem the application is both complete and in compliance with this section, the Administrator shall forward the application for review by the Vail Local Housing Authority.
(b) Vail Local Housing Authority review. The review of a proposed employee housing deed restriction exchange application shall be held by the Vail Local Housing Authority at a regularly scheduled meeting. A report of the Community Development Department staff’s findings and recommendations shall be made at the formal hearing before the Vail Local Housing Authority. Within 20 days of the closing of a public hearing on a proposed amendment, the Vail Local Housing Authority shall act on the application. The Vail Local Housing Authority may recommend approval of the application as initiated, may recommend approval with such modifications as it deems necessary to accomplish the purposes of this title, or may recommend denial of the application. The Vail Local Housing Authority shall transmit its recommendation, together with a report on the public hearing and its deliberations and findings, to the Town Council.
(c) Town Council review. Upon receipt of the report and recommendation of the Vail Local Housing Authority, the Town Council shall set a date for hearing within the following 30 days. Within 20 days of the closing of a public hearing on the application, the Town Council shall act on the application. The Town Council shall consider but shall not be bound by the recommendation of the Vail Local Housing Authority. The Town Council may approve, either in accordance with the recommendation of the Vail Local Housing Authority or in modified form, or the Town Council may deny the application.
(d) Appeal. Administrator and Town Council decisions may be appealed in accordance with the provisions in § 12-3-3, “Appeals”, of this title.
(3) Criteria and findings.
(a) Criteria. Before acting on an employee housing deed restriction exchange application, the Vail Local Housing Authority and Vail Town Council shall consider the following criteria with respect to the application:
1. The proximity and accessibility of the proposed EHU(s) to the commercial job core and public transportation;
2. The size of the proposed EHU(s) in relation to the minimum employee housing unit sizes established for commercial linkage mitigation in § 12-23-3 of this title;
3. The effect of any homeowners’ association dues or maintenance fees imposed upon the proposed EHU(s) on the affordability of the proposed unit for an employee;
4. The correlation between any homeowners’ association fees imposed upon the proposed EHU(s) and the services and amenities provided by the homeowners’ association;
5. The extent to which the exchange is consistent with the applicable elements of the adopted goals, objectives and policies outlined in the Vail Comprehensive Plan and is compatible with the development objectives of the town;
6. The extent to which the exchange presents a harmonious, convenient, workable relationship among land uses consistent with municipal development objectives; and
7. The extent to which the exchange provides for the growth of an orderly viable community and serves the best interests of the community as a whole.
(b) Necessary findings. Before recommending and/or granting an approval of an employee housing deed restriction exchange application, the Vail Local Housing Authority and the Vail Town Council shall make the following findings with respect to the application:
1. The application meets the general requirements of subsection (D) of this section;
2. The application is consistent with the applicable elements of the adopted goals, objectives and policies outlined in the Vail Comprehensive Plan and is compatible with the development objectives of the town;
4. The application promotes the health, safety, morals and general welfare of the town and promotes the coordinated and harmonious development of the town in a manner that conserves and enhances its natural environment and its established character as a resort and residential community of the highest quality.
(Ord. 31(2008) § 1; Ord. 10(2011) §§ 1, 2, 3, 4; Ord. 23(2016) § 1)