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HomeMy WebLinkAboutordinance.council.014-94 1_-- , '- """""". \,', .. ~,-'- fIa. . ., . ORDINANCE NO. 4- (series of 1994) AN ORDINANCE ADOPTING THE 1994 AFFORDABI,E HOUSING GUIDELINES AS RECOMMENDED BY THE ASPEN/PITKIN COUNTY HOUSING OFFICE WHEREAS, pursuant to the Municipal Code of the City of Aspen, as amended, the Housing Income, Eligibility Guidelines and Housing Price Guidelines are to be established by the city Council; and WHEREAS, pursuant to prior resolutions and ordinances of the city, the City Council established Employee Housing Income- Eligibility Guidelines and Housing Price Guidelines for prior years; and WHEREAS, the 1994 Affordable Housing Guidelines ("Guidelines") recommended by the Board of Directors of the Housing Office of the City of Aspen and Pitkin county, a copy of which is annexed hereto and incorporated herein, has been submitted to City Council which Guidelines set forth the 1994 Housing Office qualification guidelines for Category 1, 2, 3 and 4 ownership, rental housing projects, lodge and commercial development, and development of residential housing units; and WHEREAS, the city Council desires to adopt said Guidelines, and by virtue of the enactment of this ordinance to supersede and amend all prior resolutions and ordinances of the City pertaining to housing guidelines, but only to the extent inconsistent with the provisions of this ordinance. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF ASPEN, COLORADO: ila;'. '\1' . !;"'~ I.' I\! "c_ ~. ,., section 1 That the city council of the city of Aspen hereby adopts the 1994 Affordable Housing Guidelines, as recommended by the Board of Directors of the Aspen/Pitkin County Housing Office, a copy of which is annexed hereto and incorporated herein. section 2 That the regulations and guidelines set forth and adopted herein shall supersede, to the extent inconsistent with the provisions of this ordinance, all prior resolutions and ordinances of the City of Aspen; provided, further that the provisions of resolutions and ordinances pertaining to employee housing guidelines shall remain in full force and effect to the extent not inconsistent with the regulations and guidelines adopted herein. section 3 If any section, subsection, sentence, clause, phrase or portion of this ordinance is for any reason held invalid or unconstitutional in a court of competent jurisdiction, such portion shall be deemed a separate, distinct and independent provision and shall not affect the validity of the remaining portions thereof. section 4 Nothing in this ordinance shall be construed to affect any right, duty or liability under any ordinance in effect prior to the effective date of this ordinance, and the same shall be continued and concluded under such prior ordinances. section 5 A pub day of City Hall, c hearing on the ordinance shall be held on the ~ , 1994, in the City Council Chambers, INTRODUCED, READ AND ORDERED PUBLISHED as provided /I~ day of by law by the City Council Of^~L of the city of Aspen on the , 1994. ATTEST: ~ ~ ~- ?~ Joh Ben~ett, Mayor 2 ..,'...' 'Zl, ~.!.." ~"< 'e. ~ '~ -- -- FINALLY adopted, passed and approved this ~~ ~ ,1994. ~~- John enne~~ Mayor ATTEST: Kathryn S. Koch, City Clerk \guide\cc.ord 3 day of e ~ i. ~ '. ..... T. .... .....' .~:;'c~~~W' .... ....... ". :' . .... . .....><...........:.......:.:...........>......:.:....:....<i..I..:...i..:...:..........\))ii.t..' 'ii1@.ih;.:~{ ;:j;j; . 5';' . ~,.if"J , .'. n ._:-:_._...... ..- ,~,""-,". ..'~. .... ......':"'..~- . ................ ..... ........ '. '.' .... ...... .'.... .' .... . .:.. ."i' ....... ,.:..... ......:... ................'.......... . .......... . . ... '. '. ..... .' . '. .' .... '.:' .......: .... ..... .... ...:....... :.....>>. .. II . ........ .......... .......... ........... .... .....i . .': .... .. '. .... ..' . .' ....... I . . '.. .......... .... '.' ......... .... . .... ..... . I'" . .... ..... ..... ". . .... .... ..... ..' '.' ......i . .oo. . ..... . .... . ..... .'. 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PURPOSE ............................................................... 1 HOUSING BOARD POUCY STATEMENT ........................................ 2 PART I. AFFORDABLE HOUSING CATEGORIES SECTION 1. Income Categories. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 SECTION 2. Resident Occupied Units and Qualifications ......................... 4 PART II. RENTING, PURCHASING, RESIDING OR SEWNG AFFORDABLE HOUSING SECTION 1. Qualifications to Rent or Purchase Affordable Housing ................. 6 SECTION 2. Qualifications to Reside in Affordable Housing ....................... 7 SECTION 3. How to Qualify for Affordable Housing (Rental or Purchase) ............. 7 SECTION 4. Priorities for Persons Desiring to Rent an Affordable Housing Unit. . . . . . . . . 8 SECTION 5. Procedures for Sale and Purchase of an Affordable Housing Unit . . . . . . . . . 9 SECTION 6. Priorities for Persons Bidding to Purchase an Affordable Housing Unit ..... 12 SECTION 7. Leave of Absence for Owners of Affordable Housing Units .............. 13 SECTION 8. Roommates ................................................. 14 PART III. INFORMATION FOR DEVELOPMENT OF AFFORDABLE HOUSING SECTION 1. Net Minimum Livable Square Footage for Newly Deed Restricted Affordable Housing Units ....................................... 15 SECTION 2. Maximum Sales Prices for Newly Deed Restricted Affordable Housing Units and for Affordable Lots. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 Paqe SECTION 3. Maximum Monthly Rental Rates for Newly Deed Restricted Affordable Housing Units ....................................... 17 SECTION 4. Requirements for Dormitory/Lodge (Seasonal Units) ................... 18 SECTION 5. Affordable Housing Dedication Fee (Payment-In-Lieu Fee) . . . . . . . . . . . . . . . 19 SECTION 6. Conveyance of Vacant Lots ..................................... 19 SECTION 7. Deed Restricting Existing Dwelling Units ........................... 20 SECTION 8. Execution of Deed Restrictions by Applicants ........... . . . . . . . . . . . . . 21 SECTION 9. Maximum Vacancy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 PART IV. MAXIMUM ANNUAL RENT INCREASE FOR EXISTING DEED RESTRICTED RENTAL UNITS ... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22 PART V. SHOW CAUSE HEARING PROCEDURES .............................. 24 PART VI. GRIEVANCE PROCEDURES ................................,....... 25 PART VII. DEFINmONS................................................. . . 28 PART VIII. APPENDIX A. Listing of Principal Sales Projects and Income Categories B. Listing of Principal Rental Projects and Income Categories C. listing of Principal Rental Projects and Property Managers jj - e. !. ._>,'Ji ~e e e ,a... 'III' PURPOSE 'TO ASSURE THE EXISTENCE OF A SUPPLY OF DESIRABLE AND AFFORDABLE HOUSING FOR PERSONS EMPLOYED IN PITKIN COUNTY, SENIOR CITIZENS, THE DISABLED, AND OTHER QUALIFIED PERSONS OF PITKIN COUNTY WHICH ARE NECESSARY FOR A BALANCED COMMUNITY.' - Aspen/Pitkin County Housing Office's Goal - (Originally Adopted 1983) Each year the Aspen/Pitkin County Housing Office ("APCHO") establishes guidelines which govern the development of, admission to and occupancy of deed restricted affordable housing units for Aspen and Pitkin County. The guidelines support the APCHO's Goal and are not intended to supersede the appropriate City or County Land Use Codes or the Uniform Building Code. The 1994 Affordable Housing Guidelines respond to housing needs in Aspen and Pitkin County as identified by the APCHO. The guidelines are used to review land use applica- tions, establish affordable rental rates and sales prices, establish criteria for admission and occupancy, and to develop and prioritize current and long range housing programs. ., , "",C C __,'_ ." .- ._-,- .-.-,..-...., ..,..-..-...,...,.,-.".....,.....,..-"'.-.".-.,.-..-,','.,',,',.-.".-',.. .--. 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"~~~~n ....~ffi;~:~eun~fu:~~~.J~~de~~r~~~;~~i ..... .~~~~~.~~n~u~~~~~e~ft~u~tr~~:ni~~~~~~g~ HOUSING BOARD POLICY STATEMENTS -....1, ~.f The purpose of this section is to assist the staff, development community, and the public in understanding the Housing Board's philosophy regarding various aspects of the program. These policy statements will be reviewed and revised by the Housing Board on an annual basis. A. Mitigating Affordable Housing Impacts: The following list establishes the Housing Boards preference. 1. On-site housing; 2. Off-site housing, including the buydown concept; 3. Cash-in-Iieu/Land-in-Iieu (the preference of cash or land shall be determined on a case by case analysis). B. Preference of unit type: In areas where developers wish direction regarding the type of unit to construct, the Housing Board has the following preference. Family oriented sales units (Category 3 & 4); Entry level sales units (studio/1 bedroom, Category 1 & 2); Rental units (Category 1 & 2); All other unit types are of secondary preference. C. The proceeds from the sale of single family lots will be collected as follows: 1. . The County/City will receive sales proceeds from single family lots when the land is being provided as mitigation of affordable housing impacts for a development or growth; ., ~.' 2. The developer/property owner will receive sales proceeds from single family lots when the land is not being provided as mitigation of affordable housing impacts for a development or growth. D. Private sector involvement is critical in order to meet our affordable housing goals. Therefore, the Housing Office Issue Manager will track affordable housing zone projects through the Planning and Building Permit process in order to aid in communications between the developer and government. This tracking system will ensure that all affordable housing developments are treated as expeditiously as the City and County policies intend. 2 - ~.. 'W ~."" 1- .... \\l '" -- PART I. AFFORDABLE HOUSING CATEGORIES The APCHO goal is directed at establishing and implementing a plan to provide housing within the community at rental rates and sales prices which are affordable to persons and families of low (Category 1), moderate (Categories 2 and 3) and middle (Category 4) income. In order to carry out this objective, affordable housing units are categorized to reflect which income levels they are to service as set forth in Sections 1 and 2 below. SECTION 1. INCOME CATEGORIES The maximum gross household income (as defined in the Definitions) for each income category is set forth in Table I: TABLE I MAXIMUM INCOMES BY CATEGORy1 Income percentile2 Cateqorv 1 25% Cateqorv 2 50% Cateqorv 3 75% Cateqorv 4 >75% Maximum Household Income o Dependent 1 Dependent 2 Dependents 3 or More Dependents Single-family Home $22,600 $27,600 $32,600 $37,600 $42,600 $35,900 $40,900 $45,900 $50,900 $55,900 $51,300 $56,300 $61,300 $66,300 $71,300 $ 87,100 $ 92,100 $ 97,100 $102,100 $102,100 NOTE: t. A household may qualify to purchase or rent a unit in a higher category. 1 Prior to t 990, Income categories were designated as low, moderate or middle income in accordance with the applicable Guidelines at that time. In 1990, APCHO redefined the aforementioned terms and established four income categories in an effort to create a greater variety of units to service the community's income levels. The four income categories herein are equated to the past income categories as shown below. APCHO shall interpret prior references, including but not limited to past Guidelines, Deed Restrictions and Land Use Code approvals, to low, moderate or middle income categories as to their applicability and compliance with the Guidelines herein. Category #1 Category #2 Category #3 Category #4 Equivalent to low income level Equivalent to lower moderate income level Equivalent to upper moderate income level Equivaient to middle income level 21ncome amounts and percentiles are derived from the t 990-91 Aspen/Pitkin County Housing Study and survey of employees who live or work in Pitkin County. Percentiles are provided for informational purposes only. The median household income as reported by the survey is $40,000. 3 SECTlON 2. RESIDENT OCCUPIED UNITS AND QUAUFICA1l0NS PrrKlN COUNTY ONLY In addition to the income categories for affordabie housing units set forth in Section 1 above, affordable housing units may also be designated 'Resident Occupied Units.' This category, as applicable per the respective City or County land Use Codes, was created to offer the private sector an incentive to produce affordable housing for the community, Resident Occupied Units shall be occupied by persons and families who qualify under Part II, Section t herein and shall not be subject to any household income limits but shall be subject to the $250,000 Maximum Net Assets limits set forth in Part II, Section 1. Resident Occupied Units shall not be subject to the eligibility priorities for rental or ownership units set forth in Part II, Section 3 and 5 herein. A developer of a Resident Occupied Unit, either for sale or rental, shall have the right to select the purchaser or tenant of the unit so long as that person(s) complies with the qualifications of Part II, Section 1, Sales or rentals of Resident Occupied Units shall be the responsibility of the owner of the unit. The APCHO shall only qualify purchasers or tenants for compliance with Part II, Section 1. The APCHO shall charge a qualification fee of $250 to be paid by the purchaser or renter at the time of qualification. The Guidelines herein for Resident Occupied Units shall only apply to Resident Occupied Units created and approved by a City or County rezoning to the Affordable Housing (AH) zone district. The City and County are currently working on revisions to this section of the Guidelines. 4 ~fa; .' -....~ WiW e ~ . -I", 0j:. ~, ". '. CITY OF ASPEN ONLY In addition to the income categories for affordable housing units set forth in Section 1 above, affordable housing units may also be designated 'Resident Occupied Units.' This category, as applicable per the respective City or County Land Use Codes, was created to offer the private sector an incentive to produce affordable housing for the community. Resident Occupied Units shall meet the following criteria: A. Household Income - $t 50,000 (gross). B. Net Assets - $400,000. C. Initial Sales Price - set by developer. D. Maximum Resale Price/Appreciation - The maximum resale price is the purchase price plus four percent (4%) [simple, not compounded] of the purchase price for each year or portion thereof, that the unit is owned. If an RO unit is sold prior to three full years of ownership, then the owner is not entitled to any appreciation. Once the RO unit has been owned for over three full years, then the owner is entitled to a maximum of four percent (4%) (simple) annuai appreciation for each year or portion thereof that the unit is owned (including years one through three). E. Unit Size _ A maximum of 2,000 gross square feet; a maximum 500 square foot garage; and a maximum 1,000 square foot basement. If a larger garage or basement is constructed, then all square footage over 500 or 1,000, respectively, will be counted as a part of the 2,000 square feet of space allowed. F. Employment Requirement - Applicants must demonstrate that they are qualified employees and that they have two years of consecutive full-time employment, as defined by the Aspen/Pitkin County Housing Office Affordable Housing Guidelines, in Pitkin County immediately prior to application. Seniors who are retired are required to demonstrate that they were qualified employees based upon the definition in the Aspen/Pitkin County Housing Office's Guidelines for five consecutive years immediately prior to retirement. G. Primary Residence - Consistent with the Affordable Housing Guidelines any RO unit must be the owners' primary residence. Proof of residency, including, but not limited to, voter registration and automobile registration; shall be required. H, Income/Earnings - Applicants must demonstrate that their income/earnings are earned primarily in Pitkin County (80%). Applicants must demonstrate that they pay Colorado Income Tax as a Colorado resident. I. Sales and Marketing - In terms of sales and marketing of RO units, the Housing Office shall only qualify prospective purchasers and review and approve contract terms. Units will be bought and sold in the private sector; however, each sale shall contribute a one percent (1 %) fee (of total sale price) to the overall housing program. This fee will be collected in the same fashion as the FNMA fee at closing. (If the Housing Office markets and sells Resident Occupied units, then the seller shall contribute a 2% fee [on total sale price] to the overall housing program.) s (,.. ., ~.'." ~ @.... ~\\, ~. PART II. RENTING, PURCHASING, RESIDING OR SELLING AFFORDABLE HOUSING SECTION 1. QUAUFICA1l0NS TO RENT OR PURCHASE AFFORDABLE HOUSING To qualify for and be eligible to rent, or purchase an affordable housing unit, a person must meet the following criteria: A. Be a full-time empioyee working in Pitkin County, a senior who has been a full-time employee in Pitkin County a minimum of two years immediately prior to their retirement, or a disabled person residing in Pitkin County who has been a full-time employee in Pitkin County a minimum of two years immediately prior to their disability (as those terms are defined in the Definitions); or the spouse of any such employee, senior, or disabled person or a dependent thereof. . NOTE: Senior and disabled applicants shall have the right to request Special Review to waive the minimum two year employment requirement. B. Intend to occupy and, upon purchase or rental of the unit, shall occupy the unit as a primary residence. C. Not own improved residential real estate in those portions of Eagle, Garfield, Gunnison or Pitkin Counties which are part of the Roaring Fork River drainage, or list, at competitive market prices, the residential real estate prior to or simultaneously with closing on the affordable housing unit (and still meet the asset/income limitations, as set forth beiow). If the property is not sold by the time of closing on purchase of the affordable housing unit, it must remain listed until sold. If the owner of the other residential property desires to rent that property prior to sale, the owner shall be required to rent such property as affordable housing In accordance with the Guidelines at the income category determined by the APCHO to be appropriate under the circumstances. If an individual owns vacant land in those portions of Eagle, Garfield, Gunnison or Pitkin Counties which are part of the Roaring Fork River drainage, while leasing or owning an affordable housing unit, as soon as the land is improved with a residence the individual must relinquish the affordable housing unit by vacating the rental unit or listing and selling the ownership interest in the saies unit. NOTE: Applicant shall have the right to request Special Review with regard to owning residential property. D. Have total current household income not in excess of the maximum amount specified in Part I above for the particular category. This Item 4 does not apply to units which are designated Resident Occupied Units which have no income limits. NOTE: Applicants have the right to request Special Review with regard to maximum income. E. Have total current household net assets not in excess of $200,000 (Category #4), $175,000 (Category #3), $150,000 (Category #2) and $125,000 (Category #1). Any renter or purchaser who has assigned, conveyed, transferred, or otherwise disposed of property within the last two years without fair consideration in order to meet the net asset limitations shall be ineligibie. NOTE: The ownership of any residential property (including the affordable housing unit to be purchased) shall be considered in determining Maximum Net Assets. Applicants have the right to request Special Review with regard to Maximum Net Asset limitations. Maximum net asset limits for households which consist of at least one senior citizen are 150% of the above-stated figures. 6 SECTION 2. QUAliFICATIONS TO RESIDE IN AFFORDABLE HOUSING ~e To remain eligible to reside in an affordable housing unit, a person must meet the following criteria: A. For residing in rental units, meet the requirements of Part II, Section 1, A, B, C, D and E. B. For residing in a sale unit, meet the requirements of Part II, Section 1, A, Band C. NOTE: Persons owning or renting improved residential property and residing in affordable housing prior to May 1, 1994, will be allowed to retain ownership of that improved residential property and still be eligible to reside in affordable housing. However, once the improved residential property is sold, the person residing in affordable housing may not acquire additional improved residential property and remain eligible to reside in affordable housing. Persons acquiring affordable housing will be required to agree to comply with the Aspen/Pitkin County Housing Office Guidelines in effect at the time of purchase. SECTION 3. HOW TO QUAliFY FOR AFFORDABLE HOUSING (Rental or Purchase) A. INmAL QUAliFICATION. In order to determine that a person or household desiring to rent or purchase an affordable housing unit meets all of the criteria set forth in Section 1 above, the APCHO shall request any combination, or all, of the following documentation as proof of residency, income, assets and employment: 1. Federal income tax returns for the last one (1) year (prospective renters) or two (2) years (prospective purchasers). Prospective purchasers must also furnish a current income statement and a current financiai statement, in a form acceptable to the APCHO, verified by applicant to be true and correct; or other documentation acceptable to the APCHO. When current income is twenty (20) percent more or less than income reported on tax returns, then the applicant's income will be' averaged based upon current income and the previous year's tax returns to establish an income category for the purpose of purchasing or renting a unit. e. , ,~ >"" 2. Verification of employment in Pitkin County (I.e., wage stubs, employer name, address, and phone number, plus evidence of legai residency [or INS. Form 1-9, Employment Eligibility Verification] or other appropriate documentation as requested by the APCHO). 3. landlord verification (proof of residency, physical address). 4. Copy of valid Colorado Driver's License. 5. Verification of telephone service (date of installation, person listed to). 6. Vehicle registration. 7. Voter registration. 8. Any other documentation which the APCHO deems necessary to make a determination. 9. The applicant desiring to purchase a unit will be required to sign a reiease so that the Housing Office can obtain a copy of the completed loan application submitted to the lender. 7 ~ '.4' ~.. .. . tit - -- B. REQUAUFICAllONS l r r- I r t t. t. , 1. In addition to the initial qualification requirements set forth above, renters of affordable housing units shall be reviewed and verified bi-annually to ensure that they meet Minimum Occupancy, as well as, Income and Asset requirements under the Guidelines as they are adopted from time to time. Landlord shall provide disclosure in their lease that tenants must be qualified every two years and that tenants must reapply for qualification in the second year. 2. If the tenant is a resident of a unit which is owned by the City, County or Housing Office, as the result of a 'buydown' situation and that resident's tenancy began prior to the 'buydown' and has been continuous since that time, then the tenant must qualify as a full-time employee, but not under the income or asset provisions. The tenant will be required to pay rent commensurate with their household income of the unit, regardless of the price category lor the unit. 3. The APCHO shall endeavor to cause the landlord to give each tenant written notice, ninety (90) days prior to expiration of the two-year period, of the requirement for requalification with the APCHO for continued occupancy of the affordable housing unit. The notice should be accompanied by the APCHO's Rental Approvai Form (with instructions for requalification). lithe tenant does not receive the landlord's notice or the Rental Approval Form, the tenant shouid contact the APCHO office at 530 East Main, Lower Level, Aspen, Colorado 81611 (telephone: 920-5050) and request a copy of the Form and instructions for requalification. The APCHOwill impose a $15 fee for requalification. 4. If a tenant does not meet the minimum Occupancy, Income and Asset requirements upon requalification or eiects not to pay the requalification fee, the tenant may continue to rent and occupy the unit at the rent (subject to the Guidelines limit) and upon the terms estabiished by the landlord's lease, for up to one (1) additional year in order to provide adequate time to secure new housing. 5. No requalification is required for 'persons who have purchased and own an affordable housing unit. SECTlON 4. PRIORmES FOR PERSONS DESIRING TO RENT AN AFFORDABLE HOUSING UNIT A waiting list shall be maintained for Affordable Housing units managed by the APCHO intended for long- term rental, exclusive of units intended for seasonal occupancy. Seasonal units shall be occupied on a first-come, first-served basis from date of availability. Except as noted below, priority for placement in an affordable housing unit shall be granted to eligible applicants with the greatest length of time on the waiting list. If an applicant rejects an offered unit, which meets his/her income and occupancy requirements, he/she shall retain his/her position on the list. After two such rejections, the applicant's name shall be moved to the bottom of the list. Persons desiring to rent an Affordable Housing unit must meet minimum occupancy and employment requirements. A. Persons living within the same complex needing to readdress minimum occupancy standards or income qualification requirements shall be placed at the top of the list. B. Persons living within Pitkin County needing to readdress minimum occupancy standards or income qualification requirements shall be placed at the next highest position on the list. 8 C. Persons living within the same complex, meeting minimum occupancy standards shall be placed in the next (third) highest position on the list. D. Persons with minimum occupancy and one or more dependents residing in the unit greater than 225 days out of any 12-month period with three or more bedrooms shall be placed in the next (fourth) highest position on the list. - NOTES: 1. Minimum Occupancy (see DefinITions) as used herein is one person (with a leasehold interest) per bedroom. A minor child or dependent residing in the unit greater than 225 days out of any 12-month period shall be granted equal status as a person with a leasehold interest. 2. Emergency Workers (see DefinITions) meeting minimum occupancy may qualify for placement into the highest priority category and compete with other applicants in that category upon Special Review and upon finding by the Special Review Committee that the emergency worker complies with the definition herein. 3. Persons who are removed from their residence in Aspen or Pitkin County due to conversion or reconstruction of their residence by governmental action may receive higher priority upon Special Review. 4. First priority for accessibie units shall be given to disabled persons prioritized by length of residency. SECllON 5. PROCEDURES FOR SALE AND PURCHASE OF AN AFFORDABLE HOUSING UNIT e A. USllNG UNIT wm; 1HE APCHO: STAFF DUTIES 1. An owner of an affordable housing unit desiring to sell should consult with Housing Office and review the Deed Restriction covering the unit to determine the maximum sales price permitted and other applicable provisions concerning a sale. Uniess otherwise provided in the Deed Restriction, the unit must be listed for sale with the APCHO and the APCHO staff will administer the sale in accordance' with the Guidelines in effect at the time of listing. There shall be a minimum listing period of three months before a unit's price can be readjusted. Any termination in the listing may require the payment of administrative and advertising costs. 2. These Guidelines are intended to assure that ALL purchasers and ALL sellers will be treated fairly and impartially. Questions will be answered and help provided to any potential purchasers or sellers EQUALLY in accordance with the current Guidelines. Listings, sales contracts, extensions to contracts and closing documents will be prepared and all actions necessary to consummate the sale shall be undertaken. 3. In pursuit of the above, the APCHO staff will be acting on behalf of the APCHO. It should be clearly understood by and between all parties to a sales transaction that the staff members are not acting as licensed brokers to the transaction, but as representatives of the APCHO and ITS interests. They shall nevertheless attempt to help both parties to consummate a fair and equitable sale in accordance with the current Guidelines. 9 ~ -$~ , e 4. All purchasers and sellers are advised to consult legal counsel regarding examination of title and all contracts, agreements and title documents. The retention of such counsel, licensed real estate brokers, or such related services, shall be at purchaser's or seller's own expense. The fees paid to the APCHO are to be paid regardless of any actions or services that the purchaser or seller may undertake or acquire. 1. After a unit is listed for sale with the APCHO, the APCHO, at its expense, arranges to advertise the unit for sale in the Wednesday daily papers. When a unit is first listed, there is an initial two- week bid period during which the unit is advertised with two open house dates when the unit may 'be viewed by interested parties. The initial two-week bid period ends on the Wednesday after the second week of advertising. If there are no bids received in the initial bid period, there will follow consecutive one-week bid periods, ending on Wednesday, until the unit is sold. t ; I ~ ~ , 1 ~ ! 1 ; f ; B. ADVERTISING THE SAlE: BID PERIODS. 2. If more than one bid is received during any bid period, they are prioritized according to the Guidelines. If more than one bid is in top priority, a lottery is held and the winner is notified. If the winner of the lottery does not proceed to contract within five business days of notification, the next in line is notified and so on, until the unit is under contract for purchase. Back-up contracts in the priority order set forth above will be accepted. 3. Prospective purchasers are encouraged to investigate sources of financing prior to submitting a bid for affordable housing and can obtain names of lenders from the APCHO sales department. Sales staff are available to assist interested parties with the purchase procedure and to answer any questions about the process. . C. SAlES AND OTHER FEES 1. Unless otherwise set forth in the Deed Restrictions covering the unit, at the closing of the sale the seller will pay the APCHO a sales fee equal to two (2) percent of the sales price. The APCHO may instruct the title company to pay said fees to the APCHO out of the funds held for the seller at the closing. Unless otherwise specified in the Deed Restriction, a one-half percent (1/2%) fee is paid by the Seller at the time of listing, which is applied to the total sales fee payable at closing. In the event that the seller fails to perform under the listing contract, rejects all offers at maximum price in cash or cash-equivalent terms, or should withdraw the listing after advertising has commenced, that portion of the fee will not be refunded. In the event that the seller withdraws for failure of any bids to be received at maximum price or with acceptable terms, the advertising and administrative costs incurred by the APCHO shall be deducted from the fee, with the balance credited to the owner's sales fee when the property is sold. 2. Unless otherwise set forth in the Deed Restriction covering the unit, upon the initial sale, resale or refinancing of units where FNMA-type financing provisions are used, the use of which shall be at the sole discretion of the APCHO, there shall be a 1/4% fee charged by APCHO. The fee shall be paid by the mortgagor; shall be based on the amount of the mortgage; shall be paid for each mortgage transaction; and shall be deposited in the APCHO mortgage reserve fund account. Where the fee was not paid on the initial purchase of units using the FNMA-type financing provisions, by way of example the Twin Ridge, Fairway III and Williams Woods projects, the fee shall be paid by the owners of said units at the time the unit is refinanced or resold. The e 10 purchaser's of said units shall also pay the fee based on their mortgage as set forth above. If the fee is paid on a unit and the unit is subsequently refinanced, the fee shall only apply to that amount of the refinanced mortgage greater than the initial mortgage upon which the fee was initially collected. FNMA-type financing provisions are those which provide, among other things, for the removal of the Deed Restriction on the unit upon foreclosure of the mortgage if the APCHO or the City or the County do not exercise their option to purchase the unit within a specified time following foreclosure. If FNMA-type financing provisions are not used by the mortgagor, no fee shall be charged by the APCHO. The amount and adequacy of the fee and the mortgage reserve fund shall be reviewed annually as part of the review of the Guidelines. D. DEED RESTRICTlON The purchaser must execute, in a form satisfactory to the APCHO and for recording with the Pitkin County Clerk concurrent with the closing of the sale, a document acknowledging the purchaser's agreement to be bound by the recorded Deed Restriction covering the sale unit. E. ADDmONAL INFORMATION 1. Any co-ownership interest other than joint tenancy or tenancy-in-common must be approved by the APCHO, 2. Co-signers may be approved for ownership of the unit but shall not occupy the unit unless qualified by the APCHO. 3. If a unit is listed for sale and the owner must relocate to another area, the unit may, upon approval of the APCHO, be rented to a qualified individual, in accordance with the Guidelines for a maximum period of two (2) years. Notice of such intent and the ability to comment shall be provided to any applicable homeowner's association at the time of request to the APCHO. A letter must be sent to the Housing Office requesting permission to rent the unit until sold. A minimum six (6) month written lease must be provided to the tenant with a sixty (60) day move out clause upon notification when the unit is soid. All tenants must be qualified by the APCHO and the unit must be leased for the rent and upon the terms set forth in the Deed Restriction on the unit or, if there are no such provisions in the Deed Restriction, upon terms approved by the APCHO. Prior to APCHO's qualification o! tenant, said tenant shall acknowledge as part of the lease that said tenant has received, read and understands the homeowners' association covenants, rules and regulations for the unit and shall abide by them. Enforcement of said covenants, rules and regulations shall be the responsibility of the homeowners' association. A copy of the executed lease shall be furnished by the owner or tenant to the APCHO and homeowners' association. SECTION 6. PRIORmES FOR PERSONS BIDDING TO PURCHASE AN AFFORDABLE HOUSING UNIT The qualified person(s) submitting the highest bid price (not to exceed the maximum bid price) during a bid period shall have the first right to negotiate purchase of the unit. If two or more qualified bids are submitted at the highest bid price, they shall receive preference and be prioritized for selection as the top bidder in the following order: 11 ..,~, .' e ~~ -~ i~ ., e, :R 0'. " ~ . A. . Persons with a present ownership interest Goint or tenants in common) in the.affordable housing unit. B. Person(s) chosen by the remaining owner(s) to purchase the interest of another owner. C. Spouses and/or children of current owners, including joint custody of the children. D. Persons living in and owning another unit within the complex who meet minimum occupancy standards. E. Persons with four or more consecutive years of employment in Pitkin County immediately prior to application for purchase: 1. With minimum occupancy and one or more dependents for units with three or more bedrooms (dependents must reside in the unit greater than 225 days out of any 12-month period). 2. With minimum occupancy. F. Persons with one to four consecutive years of employment in Pitkin County immediately prior to application for purchase: 1. With minimum occupancy and one or more dependents for units with three or more bedrooms (dependents must reside in the unit greater than 225 days out of any 12-month period). 2. With minimum occupancy. G. Persons with less than one consecutive year of employment in Pitkin County immediately prior to application for purchase: 1. With minimum occupancy and one or more dependents for units with three or more bedrooms (dependents must reside in the unit greater than 225 days out of any 12-month period). 2. With minimum occupancy. H.' Persons with four or more consecutive years of employment in Pitkin County immediately prior to application for purchase not meeting minimum occupancy, but which most closely approximates minimum occupancy. I. Persons with one to four consecutive years of employment in Pitkin County immediately prior to application for purchase not meeting minimum occupancy, but which most closely approximates minimum occupancy. J. Persons with less than one consecutive year of employment in Pitkin County immediately prior to application for purchase not meeting minimum occupancy, but which most closely approximates minimum occupancy. After prioritization, the names of bidders with the highest bids of equal amounts and equal priority status shall be placed in a lottery which will be held within a reasonable amount of time following the deadline for bids. If the terms of the proposed purchase contract, other than maximum price, as initially presented to the owner, are unacceptable to the owner, there shall be a mandatory negotiation period of three (3) business days to allow the owner and potential buyer to reach an agreement regarding said terms, including but 12 not limited to the closing date and financing contingencies. If after the negotiation period is over the owner and buyer have not reached an agreement, the next bidder's offer will then be presented to the owner for consideration and a three (3) business day negotiating period will begin again. All follow-up qualified bids will be processed in a like fashion until the unit is sold or all bids are rejected. If the owner rejects all bids, the unit shall be rebid or withdrawn from sale and the owner shall be subject to the provisions of Section 4, paragraph C.1., regarding sales fee. NOTES: 1. Minimum Occupancy (see Definitions) as used herein is one person (with an ownership interest) per bedroom. A minor child or dependent residing in the unit greater than 225 days out of any 12-month period shall be granted equal rights as a person with an ownership interest. 2. Emergency workers (see Definitions) meeting minimum occupancy may qualify for placement into the highest lottery category (except Sections 5 A, B and C) and compete with other applicants in that category upon Special Review and upon finding by the Special Review Committee that the emergency worker complies with the definition herein. 3. First priority for accessible units shall be given to disabled persons prioritized by length of residency. 4. Persons who are removed from their residence in Aspen or Pitkin County due to conversion or reconstruction of their residence by government action may receive higher priority upon Special Review. 5. Transfer within immediate family to a qualified buyer requires a $100 fee. SECTION 7. LEAVE OF ABSENCE FOR OWNERS OF AFFORDABLE HOUSING UNITS If an owner of an affordable housing unit must leave Pitkin County for a limited period of time and desires to rent the unit during the absence, a leave of absence may be granted by the APCHO for one year upon clear and convincing evidence which shows a bona fide reason for leaving and a commitment to return to the Aspen/Pitkin area. A letter must be sent to the APCHO, at least 30 days prior to leaving, requesting permission to rent the unit during the leave of absence. Notice of such intent to rent and the ability to comment shall be provided to any applicable homeowners' association at the time of request to the APCHO. The leave of absence shall be for one year and may, at the discretion of the APCHO, be extended for one year, but in no event shall the leave exceed tw'o years. The unit may be rented in accordance with the APCHO's Guidelines during said one or two year period so long as the Deed Restriction covering the unit permits the rental. In the event that the rental rate is not set forth in the Deed Restriction, the rent shall be established at the greater of owner's cost or the rent established in accordance with the Guidelines for units at the appropriate income category (see Table IV). Owner's cost as used herein includes the monthly mortgage principal and interest payment, plus condominium fees, plus utilities remaining in owner's name, plus taxes and insurance prorated on a monthly basis, plus $20 per month. Prior to APCHO's qualification of tenant, said tenant shall acknowledge as part of the lease that said tenant has received, read and understands the homeowners' association covenants, ruleS and regulations for the unit and shall abide by them. Enforcement of said covenants, rules and regulations shall be the responsibility of the homeowners' association. A copy of the executed lease shall be furnished by the owner or tenant to the APCHO and homeowners' association. Additionally, an owner may request a one-time in-county leave of absence for six (6) months by Special Review with all the above conditions applying. 13 e, j" " e ., W' e e .t, .~- SEC1l0N 8. ROOMMATES Rental Units - Roommates are permitted provided that they meet the provisions of Part II, Section 1, A, B, C, D and E. A roommate must reside in the unit for a minimum of ninety (90) consecutive days in order to have standing as a bona fide roommate for the purpose of taking over primary tenancy of the unit. The maximum rental rate for the unit/room shall not exceed the maximum rental rate permitted under the Guidelines in Part III, Section 3, Table IV, herein for said unit pro rated on a per bedroom basis. Sales Units - Roommates are permitted provided that they meet the provisions of Part II, Section 1, A, B and C. Any roommate must be given a lease of at least six (6) months. Copies of all leases must be filed with the APCHO. Rent for a roommate must not exceed that percentage of the pro rata share ofthe Guidelines rent that the roommate represents as the adult population of the household. For example, one roommate in a two person (total) household shall pay a maximum rent of 50% of the Guideline rent; one roommate in a three-person household shall pay a maximum rent of 33% of the total Guideline rent (see Guidelines, Part III, Section 3, Table IV). Unless otherwise set forth in the Deed Restriction and or covenants of the Homeowner's Association covering the unit, an owner may rent a unit/room to a qualified employee or qualified employee of a non- profit (provided that they meet the income guidelines for that specific unit) so long as the owner continues to reside in the unit as a sole and exclusive place of residence. The owner shall be deemed to have ceased to use the unit as her sole and exclusive place of residence by accepting permanent employment outside of Pitkin County, or residing in the unit fewer than nine (9) months out of any twelve (12) months. The maximum rental rate for the unit/room shall not exceed the maximum rental rate permitted underthe Guidelines in Part III, Section 3, Table IV, herein for said unit pro rated on a per bedroom basis. 14 _I \\ '''. e" l%:' ~~ . - PART III. INFORMATION FOR DEVELOPMENT OF AFFORDABLE HOUSING Part III of the Guidelines contains information to be used by developers of affordable housing units in the City of Aspen and Pitkin County whether required in connection with an application for free-market development or othelWise. SECTION 1. NET MINIMUM UVEABLE SQUARE FOOTAGE FOR NEWLY DEED RESTRICTED AFFORDABLE HOUSING UNITS Table II sets forth the allowable Minimum Net Liveable Square Feet (see Definitions) for each unit type and category. Developers may choose to construct larger units; however, allowable rent and sale prices for such larger units may not exceed the maximum set forth in Tables III and IV: TABLE \I MINIMUM NET UVEABLE SQUARE FEET FOR EACH UNIT TYPE AND INCOME CATEGORY Cateqories 1 and 2 Cateqories 3 and 4 Unit Tvpe S,F. S.F. Studio 1 Bedroom 2 Bedroom 3 Bedroom Single Family Detached 400 600 850 1,000 1,100 500 700 950 1,200 1,400 NOTES: 1. Net Liveable Square Footage (see Definitions) calculations shall be required for the affordable housing component of a project and must be verified by. the Building Department prior to issuance of any building permits for either the free market or affordable housing component of the project. The Building Department shall retain a set of approved building permit drawings for the project and the Building and Zoning Departments or APCHO may check the actual construction of the affordable housing units for compliance with the approved building permit plans. 2. The minimum net liveable square feet requirements may be reduced upon demonstration to and approval by the APCHO that the development satisfies, or is required to adjust to, other physical factors or considerations including, but not limited to, design for livability, common storage, other amenities, location or site designs. 3. The City of Aspen Accessory Dwelling Unit Program requires a minimum of 300 square feet and a maximum of 700 square feet of net liveable square feet for accessory dwelling units. 15 SECllON 2. MAXlMUM SAlES PRICES FOR NEWLY DEED RESTRICTED AFFORDABLE HOUSING UNITS AND FOR AFFORDABLE LOTS Table III sets forth the maximum sales price for newly deed restricted affordable housing units and affordable lots to the initial purchaser. Maximum sales price on resale of a unit shall be controlled by the Deed Restriction covering the unit executed by the initiai purchaser upon closing of the initial purchase. TABLE III MAXIMUM UNIT SAlES PRICES CateaOry 1 Cateaory 2 Cateaory 3 CateaOry 4 Unit Tvpe Studio 1 Bedroom 2 Bedroom 3 Bedroom Single-family Detached Single-family Lot $26,200 $32,800 $39,500 $46,100 $56,400 ($61,500) $ 60,500 $ 70,800 $ 81,000 $ 90,700 $104,600 ($ 18,500) $ 99,000 $109,200 $119,400 $129,200 $143,000 $ 1 $167,600 $177,800 $188,100 $198,300 $205,000 $ 25,600 NOTES~' 1. Single-family lots shall be developed with homes of three bedrooms or iarger and shall be prioritized for lottery as set forth in Part II, Section 5 herein. 2. Category 2 singie-family lots will require an $18,500 subsidy payment by the developer in addition to the conveyance of the lot. Category 1 single-family lots will require a $61,500 subsidy payment by the developer in addition to the conveyance of the lot. Lot prices include the cost of access and utilities for the lot as set forth in Part III, Section 6 herein. 3. Sale units will be offered for sale through the APCHO to all qualified persons under the procedures established by the Guidelines. 4, In the event affordable housing units associated with a lodge, agricuitural operation, or commercial development are retained by the developer or conveyed to the owner/operator of the development (beyond construction or initial acquisition and disposition), persons employed directly by such owner/operator shall be given first priority to purchase; however, said persons must meet the APCHO's Guidelines for occupancy, income and assets criteria in order to qualify to occupy the unlt(s). In the event there are no persons directiy employed by the owner who qualify or are available, the unit shall then be offered to other qualified persons according to Part II, Section 5, of these Guidelines. (Affordable Housing [AH] Zone development is exempt from this section.) 5. All newly deed restricted affordable housing saies units must be in a marketable condition and comply with the Uniform Building Code and with all rules, regulations, and codes of all governmental utilities and agencies having jurisdiction. Prior to sale the unit must be inspected and approved by a certified building inspector, architect or engineer approved by the APCHO for compliance with the Guidelines. Cost of such inspections shall be the responsibility of the applicant, and the results of such inspection rnust be approved by the APCHO. 16 e, /1 ..,7 .' .w.,I9 . e ft'. *':, '~""- . SEGnON 3. MAXIMUM MONTHLY RENTAL RATES FOR NEWLY DEED RESTRICTED. AFFORDABLE HOUSING UNITS Table IV sets forth the maximum monthly rental rates which may be charged by the developer for newly deed restricted affordabie housing units. The rental rates apply and shall be in effect for a twelve (12) month period from the commencement date of the initial lease with the first tenant of the newly deed restricted unit. Thereafter, the maximum monthly rental rate may be increased only if, and to the extent that, the Guidelines then in effect permit an annual increase in rental rates. TABLE IV MAXIMUM MONTHLY RENT Unit Tvpe Cateoorv 1 Cateoorv 2 Cateoorv 3 Cateoorv 4 Studio 1 Bedroom 2 Bedroom 3 Bedroom Single Family Detached $315 $388 $461 $535 $609 $560 $658 $756 $855 $953 $ 835 $ 933 $1,031 $1,130 $1,228 $1,326 $1 ,425 $1,522 $1,621 $1,670 NOTES: 1. Units constructed prior to the effective date of these Guidelines shall charge rents that do not exceed those set forth in Part IV, Table IX. 2. Rental rates shall apply whether the units are provided furnished or unfurnished. 3. Rental rates in Table IV include, and may not be increased to pay for, the cost of utilities in common areas, condominium dues, management costs and taxes. In the event that utilities are commonly metered, a charge to the tenant may be made in addition to the maximum rents in Tabie IV for the tenant's share of such utilities attributable to the tenant's net living area. Tenants shall be responsible for individually metered utilities. 4. Prior to occupancy of a deed restricted rental unit, a proposed tenant must be qualified by the APCHO for occupancy and provide to the APCHO all verification required under these Guidelines. Occupant must provide owner/landlord with proof of verification and qualification by the APCHO prior to occupancy. Owner shall be required to provide a copy of lease agreement with tenant to the APCHO for approval, which shall be given or denied within five working days after receipt by the APCHO. . Leases shall meet occupancy standards and allowed rental rates, and shall be for a minimum term of six consecutive months. An executed copy of the lease shall be provided to the APCHO prior to occupancy by tenant. 5. In the event affordable housing units associated with a lodge, commercial, agricultural operation, or residential development are retained by the developer or conveyed to the owner/operator of the development, persons employed directly by such owner/operator meeting the income, occupancy, and asset standards shall be given first priority to rent. In the event there are no persons directly employed by the owner who qualify or are available, the unit shall then be offered to other qualified persons according to the procedures contained in Part II of the Guidelines. 6. All newly deed restricted affordable housing rental units must comply with the Uniform Building Code and with all rules, regulations and codes of all governmental bodies and agencies having jurisdiction. The owner of affordable housing rental units, at its cost and expense, must keep and maintain the interior and exterior of the total structure (including all residential units therein) and the adjacent open areas in a safe and clean condition and in a state of good order and repair, reasonable wear and tear and negligent or intentional damage by tenants excepted. 17 -- SECTION 4. REQUIREMENTS FOR DORMITORY/lODGE (Seasonal Units) Pursuant to the applicable City or County Land Use Codes, an applicant for a development may, under certain conditions and subject to certain requirements, satisfy the affordable housing requirements by provision of dormltocy/lodge units designed for occupancy by seasonal employees. Acceptance of such dormitocy/lodge units shall be at the sole discretion of the respective governing body at the recommendation of the APCHO. The dormitocy/lodge units must satisfy all requirements of the applicable Guidelines and shall be required to meet the following minimum standards: .... ,v .~:r A. Occupancy of a dormitocy unit shall be limited to no more than eight persons. B. There shall be 150 or greater netliveabie square feet of living area per person, including sleeping and bathroom. For purposes of this requirement, Net Liveable square footage shall not include interior or exterior hallways, parking, patios, decks, cooking, lounge used in common, laundcy rooms, mechanical areas, and storage. Rents for dormitocy/lodge units and units developed for seasonal occupancy only pursuant to a plan approved by the APCHO shall be calculated on the net liveable square footage as described above and computed at the rates set forth in Table V. C. Notes 3, 4, 5 and 7 under Table IV, Part III, Section 3, apply to Dormitocy/Lodge units. D. At least one bathroom shall be provided for shared use by no more than four persons, containing at least one water closet, one lavatocy, one bathtub with a shower, and a total area of at least 60 net liveable square feet. E. A kitchen facility or access to a common kitchen or common eating facility shall be provided subject to the APCHO's approval and determination that the facilities are adequate in size to service the number of persons using the facility. F. Use of 20 net ieasable square feet per person of enclosed storage area located within, or adjacent to, the unit. Ie G. A manager's or assistant manager's rent shall be calculated based on the income categocy of the respective manager. TABLE V 1994 MAXIMUM ALLOWABLE MONTHLY RENT FOR NEWLY CONSTRUCTED OR DEED RESTRICTED DORMITORY/lODGE UNITS OR UNITS INTENDED FOR SEASONAL OCCUPANCY (INCLUDING UllUllES) Newly Constructed or Covenanted (1989-on) $1.59 per s.f. 18 .'~ ,l~ -- ,....... ~. '\J ~.% '<:- SECTION 5. AFFORDABLE HOUSING DEDICATION FEE (payment-in-Lieu Fee) . Payment-ln-Lieu Schedule A. Pursuant to the applicable City or County Land Use Codes, an applicant for a development may, under certain conditions and subject to certain requirements, satisfy the affordable housing requirement by payment of an affordable housing dedication fee (payment-In-lieu fee). The number of employees (affordable housing residents) required to be housed is determined by the Employee Generation schedules contained in the applicable City and County Codes. The time of payment of the fee is prior to the issuance of a building permit. Acceptance of the payment-in-Iieu fee shall be at the sole discretion of the respective governing body at the recommendation of the APCHO. B. All County fees shall be paid to the Pitkin County Finance Director and all City fees shall be paid to the City Finance Director. A receipt shall be issued by the Finance Directors to the applicant for submission to the Planning Ollice as verification of payment, with a copy of the receipt supplied by the developer to the APCHO prior to issuance of a building permit. TABLE VI PAYMENT IN liEU SCHEDULE Payment per Full-Time Equivalent Employee by Category Category 1 Category 2 Category 3 Category 4 $69,000 $51,000 $34,000 $ 4,000 A full-time equivalent employee = an employee working 2,080 hours per year. For the purposes of caiculating payment-in-Iieu fee, the following occupancy standards shall apply: TABLE VII OCCUPANCY STANDARDS BY UNIT TYPE UNIT TYPE OCCUPANCY Dormitory/Lodge Studio One Bedroom Two Bedrooms Three Bedrooms 1.00 employee/150 sq, ft. 1.25 employees 1.75 employees 2.25 employees 3.00 employees For each bedroom in excess of three, the occupancy standard increases by .5 employees Refer to Appendix D concerning methodology on Payment-in-Lieu Schedule 19 ,. ._~""'...,...-.,..,..,..,-.>". SECTION 6. CONVEYANCE OF VACAf'IT LOTS Pursuant to the applicable City or County Land Use Codes, an applicant for a development, under certain conditions and subject to certain requirements, may satisfy the affordable housing requirement by the conveyance of vacant lots. Acceptance of the lots shall be at the sole discretion of the respective governing body upon recommendation of the APCHO. e A. All lots must be fully developed and ready for construction, i.e., improved lots with water or well, sewer or septic, roads, and telephone, electricity and gas (if available) in place to the property line. A soils report, prepared by a qualified engineer and based upon test holes within the building envelope of each lot, stipulating that the lot is suitable for construction of the intended dwelling type without requiring unusual excavation, foundation work or accommodation of other unusual conditions shall accompany the conveyance. B. All lots must be conveyed to the APCHO concurrent with the recordation of the final plat for the project. C. At the time of conveyance, an escrow account in an amount sufficient to cover 125% of the estimated costs required to complete the improvement of the lots in accordance with Item No. 1 above shall be established in the name of the APCHO and the applicant. In no event shall improvements, as noted in Item NO.1 above, be completed more than one year from the date of conveyance of the property to the APCHO. D. The Subdivision Improvements Agreement and the Protective Covenants shall incorporate the conditions stated in No.1, 2, and 3, directly above this paragraph. SECTION 7. DEED RESTRICTING EXISTING DWElliNG UNITS A. Pursuant to the applicabie City or County Land Use Codes, an applicant for a deveiopment, under certain conditions and subject to certain requirements, may satisfy the affordable housing requirement by deed restricting existing unrestricted housing to comply with the Guidelines. Acceptance of existing units shall be at the sole discretion of the respective governing body upon recommendation of the APCHO. l. B. If accepted by the City or County, existing units must be upgraded in accordance with the following criteria, unless a variance from these requirements is approved by the applicable governing body upon the recommendation of the APCHO: all units must be freshly painted; all appliances must be purchased within the last five years and be in good condition and working order; new carpet shall be provided (unless carpet has been purchased in last five years and is in good condition and repair); the exterior walls shall be freshly painted within one year of dedication, a generai level of upgrade to yards and landscaping shall be provided, and, windows, heating, plumbing and electrical systems, fixtures and equipment shall be in good condition and working order. The roof must have a remaining useful life of at least ten (10) years. All units shail meet Uniform Building Code minimum standards, any applicable housing code or, in the absence of an adequate code, such recognized housing code acceptable to the APCHO and shall be approved by the APCHO and verified by a qualified Building Inspector accepted and approved by the APCHO. Applicant shall bear the costs and expenses a/any required upgrades to meet the above standards as well as any structural/engineering reports reqUired by the APCHO to assess the suitability for occupancy and compliance with the APCHO standards of the proposed units. 20 . ~ ~., -'" \W1 '. (~ SECTION 8. EXECUTION OF DEED RESTRICllONS BY APPUCANTS Deed Restrictions must be submitted by the applicant to the APCHO according to the following tirne schedule: A. Conditional Use Applications - Prior to issuance of any building permit for a project, the APCHO shall have an approved, executed and recorded Deed Restriction for the required commitment by the applicant. A copy of the recorded Land Use Code Resolution and Deed Flestriction shall be sent to the APCHO. A copy of the Planning and Zoning Resolution and a recorded Deed Restriction shall be sent to the APCHO. B. Growth Manaqement Plan Applications - Prior to issuance of any building permit for a project. the APCHO shall have an approved, executed and recorded Deed Restriction for the required commitment by the applicant. A copy of the Planning and Zoning Resolution and a recorded Deed Restriction shall be sent to the APCHO. Prior to issuance of any Certificate of Occupancy, the Deed Restriction shall be amended, if necessary, to reflect changes approved by the APCHO and governing bodies which may have occurred during construction or conversion of the unit(s) (I.e., net liveable square footage), executed and recorded, with the original returned to the APCHO for their files. C. Others - Prior to issuance of any building permit for a project, the APCHO shall have an approved, executed and recorded Deed Restriction for the required commitment by the applicant. A copy of the recorded Land Use Code Resolution and Deed Restriction shall be sent to the APCHO. Prior to issuance of any Certificate of Occupancy, the Deed Restriction shall be amended, if necessary, to reflect changes approved by the APCHO which may have occurred during construction or conversion of the unit(s) (I.e., net liveable square footage), executed and recorded, with the original returned to the APCHO for their files. SECllON 9. MAXIMUM VACANCY Deed restricted rental units, which are required to be occupied, may be vacant between tenancies for a maximum period of forty-five (45) days, unless authorized by the APCHO. If the owner exceeds the forty- five (45) day limit without APCHO approval, then APCHO will place a qualified employee from existing wait lists with a minimum six (6) month lease. 21 e PART IV. MAXIMUM ANNUAL RENT INCREASE FOR EXISTING DEED RESTRICTED RENTAL UNITS The maximum monthly rent for an existing affordable housing una is determined by starting wah the maximum monthly rent permitted for that unit under the Guidelines in effect in the year in which the una was first occupied and increasing that rent each year by the maximum percentage rent increases permitted by the Guidelines each year. For example, a low income unit first occupied in 1981 had a starting maximum monthly rent under the Guidelines then in effect of $0.47 per net liveable square foot (as shown in the schedules, Table IX, below) and maximum annual rent increases by the percentage increase permitted each year by the Guidelines as shown in Table VI below. Maximum rent increases and the year in which each increase was allowed for existing units are as follows: TABLE VIII PERMITTED INCREASE IN MAXIMUM RENT FOR EXISTING AFFORDABLE HOUSING UNITS Year Increase Year Increase . 1978- 1982 0.0% 1990 3.0% 1983 6.6% 1991 0.0% 1984 5.0% 1992 2.0% 1985 3.3% 1993 1.2% 1986-1988 0.0% 1994 1.0% 1989 4.7% The proposed 1.0% increase is based on the percentage change in the Consumer Price Index (Urban Wage Earners, November 1992 - November 1993. The index increased at the rate of 2.5% during this period. Operating costs for rental housing, which are subject to the CPI increase, are assumed to be 40% of rental income. The proposed rental increase of 1.0% is 40% of the CPI increase, which is sufficient to cover any increase in operating costs. The schedules set forth below, collectively called Table IX, show for each unit Category: (1) the allowable monthly rent per net liveable square foot starting in the year of first occupancy and (2) the amount of per square foot monthly rent in each year thereafter calculated using the permitted annual rent increases shown in Table VI above. The rent increases shown in Table VIII and the rents allowed in any given year shall be governed by Table IX. Regardless of a landlord's determination to accept a lower rent for any given year, the maximum allowable rent is as specified in these tables. . 22 ,. t., ~ \. '.'" \% ~ TABLE IX I ff f; g ~. l.' t: f' r "' e " MAXIMUM MONTHLY RENTS PER NET LIVEABLE SQUARE FOOTAGE t: 1: e , FOR 1994 Initial Year Of Low Incomel Moderate Middlel Occupancy Category 1 Income Category 2 Category 3 Category 4 1981 $0.62 $0.76 N/A N/A $0.98 1982 0.72 0.85 N/A N/A 0.98 1983 0.71 0.95 N/A N/A 1.38 1984 0.68 0.95 N/A N/A 1.31 1985 0.68 0.95 N/A N/A 1.31 1986 0.68 0.95 N/A N/A 1.31 1987 0.68 0.95 N/A N/A 1.31 1988 0.68 0.95 N/A N/A 1.31 1989 0.68 0.95 N/A N/A 1.31 1990 0.68 0.95 $0.87 $1.07 1.31 1991 0.68 0.95 0.87 1.07 1.31 23 let" ~, -""" A ., @.. '1! PART V. SHOW CAUSE HEARING PROCEDURES Show cause hearings are conducted to investigate aileged housing violations. The APCHO staff commences such procedures with a letter to the owner/landlord/tenant setting forth the aileged violation and requesting a response, documentation or other information from the owner/landlord/ tenant. If owner/landlord/tenant does not respond within a set period of time as specified in the letter, a "Show Cause Hearing" Is set by the APCHO staff and the owner/landlord/ tenant is notified of hearing date, time and place. The purpose of a 'Show Cause Hearing" is to provide to owner/landlord/tenant an opportunity to show cause why they shouid not be cited with respect to the violation(s) or why the APCHO shouid not prosecute or proceed to litigation. The procedure for the "Show Cause Hearing" is as foilows: The hearing is held before the APCHO Board with at least a quorum present. The Chairperson shail state: "Show Cause Hearing. This hearing has been convened at the request of the staff of the APCHO to review aileged violations of (Agreement, Deed Restriction or Guidelines)." "Those ailegations have been raised with regard to (person) and the unit iocated at (address)." ''The purpose of this Show Cause Hearing is for the presentation of information to the APCHO in order that we might determine whether there is cause to believe that the allegations as to a violation are true." 'This is not a judiciai proceeding. This Board does not intend, nor does it have the power to assess a fine, or any other penalty in the event it appears to us that a violation has occurred. The only resuit in such case may be a finding by the Board at the conciusion of this hearing that cause exists to believe a violation has occurred and a direction to our staff and legal counsel to institute appropriate legal or other action to remedy that violation." "Since this is not a judicial proceeding, we are not bound strictly by rules of evidence or procedure. Our purpose and intent is to give each party involved an opportunity to present whatever materials they deem appropriate relating to the aileged violation.' I ~i ~ ~ ~ ~ ~,. "Mhough not required, any party may employ legal counsel in participating in this hearing." tf. ; ~ 'The general order of procedure will be for a presentation by the staff, foilowed by a presentation by the owner/landlord/tenant and, if requested, by any other interested party." "Are there any questions?" "Staff may proceed." 24 e e e:, '\ .. PART VI. GRIEVANCE PROCEDURES I. DEFlNmONS A. A 'grievance" is any dispute that a tenant or purchaser may have with the APCHO or a project management firm that is govemed by the APCHO Affordable Housing Guideiines with respect to action or failure to act in accordance with the individual tenant's or purchaser's rights, duties, welfare or status. B. A "complaint" is a grievance presented to the APCHO Office informally or as part of the informal hearing process. C. A "hearing panel or official" is a person or persons selected in accordance with this grievance procedure to hear grievances and render a decision. O. A "complainant" is a tenant or purchaser residing in housing accommodations owned, leased, or deed restricted by the APCHO, the City or the County. E. "Elements off due process" shall mean an eviction action or a termination of tenancy in a State or local court in which the following procedural safeguards are required; 1. Adequate notice to the tenant of the grounds for terminating tenancy and eviction; 2. Opportunity for the tenant to examine all reievant documents, records and reguiations of the APCHO prior to the triai for the purpose of preparing a defense; 3. Right of the tenant to be represented by counsel; 4. Opportunity for the tenant to refute the evidence presented by the APCHO including the right to confront and cross-examine witnesses and to present any affirmative legal or equitable defense which the tenant may have; 5. A decision on the merits. II. PROCEDURES PRIOR TO A HEARING A. Informal Grievance Procedures 1. Any grievance may be presented orally or in writing to the APCHO Office. (If the grievance is written, it must be signed by the compiainant.) It may be simply stated, but shall specify: (1) the particular grounds(s) upon which it is based; (2) the action requested; and (3) the name, address and telephone number of the complainant and similar information about his/her representative, if any. 2. The purpose of this initial contact is to discuss and hopefully resolve grievances without the necessity of a formal hearing. 3. Within five working days, a summary of this discussion will be mailed to the complainant by an APCHO representative, one copy shall be filed in the APCHO's files. 4. The summary will include: names of participants, date of the meeting, nature of the proposed disposition, and specific steps by which a formal decision is made. B. Dissatisfaction with Informal Disposition 1. If the complainant is dissatisfied with the proposed disposition of the grievance, he/She shall submit a written request for a formal hearing within ten (10) working days of the APCHO's mailing or delivery of the above-mentioned summary of the informal proceedings. 2. The request for a hearing must be presented to the APCHO Office. 3. The request must be date stamped. 4. The request for a formal hearing must specify reasons for the grievance, and the action or relief sought. C, Failure to Request Formal Hearing 1. If the complainant does not request a formal hearing within ten (10) working days, he/she waives his/her right to a formal hearing, and the APCHO's pro- posed disposition of the grievance will be final. 2. The above Section II, (C) (1.) determination shall in no way constitute a waiver of the complainant's right to contest the APCHO's disposition of his/her grievance in an appropriate judicial proceeding. If the compiainant requests a formal hearing within said ten (10) working days, the complainant shall be entitled to a hearing before a hearing officiai or panel. 25 III. SELECTION OF A HEARING OFFICiAl OR PANEL A. The hearing official shall be an impartial, disinterested person seiected jointly by the APCHO, the compiainant and the project management repre- sentative. (Neither Housing Board members nor the APCHO employees shall be seiected.) If the APCHO, the complainant and the project management cannot agree upon a hearing officlai, they shall each appoint a member of a hearing panei and those individuals will select a forth and fifth panel member. If the appointees cannot decide upon a forth and fifth hearing panei member, such members shall be appointed by an independent arbitration organization such as any other third party agreed upon by the APCHO, the complainant and the project management representative. IV. PROCEDURES TO OBTAIN A HEARING A. informal Prerequisite 1. All grievances must be informally presented as stipulated above (Section II, A.) as prerequisite to a formal hearing. 2. If the compiainant does not request a hearing within the time period allowed in Section II, (B), (1.), above, he/she waives his/her right to the hearing, and proposed disposition of the grievance will become final. This shall not, however, constitute a waiver of the compiainant's right thereafter to contest disposition of his/her grievance in the appropriate judicial proceeding. 3. All grievances shall be personally presented either orally or in writing pursuant to the informal procedure in accordance with Section II, (A) to the hearing officer or hearing panel, the provisions of this subsection may be waived by the hearing officer or hearing panel. B. Scheduiing 1. Upon complainant's compliance with the above, a hearing shall be scheduled by the hearing officiai (panei) promptly for a time and piace reasonably convenient to both the complainant, the project manager and the APCHO. V. PROCEDURES GOVERNING THE HEARING A. The hearing shall be heid before a hearing official or panel seiected as provided in Section III of this Part VI. B. The complainant shall be afforded a fair hearing providing the basic safeguard of due process which shall inciude: 1. The opportunity to examine and, before 1he hearing at the expense of the complainant, to copy all documents, records and regulations of the APCHO that are relevant to the hearing. Any document not made availabie after written request by 1he complainant may not be reiled upon by the APCHO at the hearing. el " ;~, ."do 2. The right to be represented by counsel person chosen as his/her representative. 3. The right to present evidence and arguments in support of his or her complaint, to controvert evidence reiied on by the APCHO or project management, and to confront and cross-examine all witnesses on whose testimony or information the APCHO or project management relies; and 4. A decision based soieiy and exclusiveiy upon the facts presented at the hearing. C. If the hearing panel (official) determines that the Issue has been previously decided in another proceeding, they may render a decision based upon the prior decision without proceeding with the hearing. Compiainant shall have the opportunity to present evidence and be heard as to the inapplicability of the prior decision to the present grievance, If the hearing panel (official) determines that the prior decision is not applicable to the present dispute, the parties shall proceed with the hearing. D. Failure to Appear: If the complainant, project management representative or the APCHO fail to appear at the scheduled hearing, the hearing panel (Officiai) may make a determination to postpone the hearing for not to exceed five working days, or make a determination that the party who did not appear has waived his/her right to a hearing. Such a determination in no way waives the complainant's right to appropriate judicial proceedings. e l' co"~"~ .i'" E. The hearing shall be conducted by the hearing official (panei) as follows: 1. informai - Oral or documentary evidence pertinent to the facts and issues raised by the complaint may be received without regard to admissability under the rules of evidence applicabie to judicial proceedings; 2. Orderiy - The Official (panel) shall require that the APCHO, complainant, the project management representative, counsel and other participants. and spectators conduct themselves in an orderly fashion. Failure to comply with the directions of the hearing Official (panei) to obtain order may resuit in exclusion from the proceedings ora decision adversetothe interests of the disorderly party and denial of the relief sought, as appropriate. 26 . - ~ '. Ie' ~ " 2F. The complainant or the APCHO may arrange, in advance and at the expense. of the party making the arrangement, for a transcript of the proceeding. Any interested party may purchase a copy of such transcript. VI. DECISIONS OF 1HE HEARING OFFICIAL (PANEL) A. Within 10 working days foilowing the hearing, the hearing officiai (panel) shail render a written decision including reasons therefore. The APCHO will liie one copy in their fiies. The complainant may pick up a copy of the decision after 3:00 P.M. on the 10th working day foilowing the decision. Otherwise, the decision will be maiied to complainant. B. The decision of the hearing official (panei) shail be binding on the APCHO which shall take all actions necessary to carry out the decision unless the APCHO Board determines within ten working days, and so notifies the complainant that: 1. The grievance does not concern the APCHO action or failure to take action in accordance with or involving the complainant's lease or the APCHO regulations which adversely affect the complainant's rights, duties, weifare or status; 2. The decision of the hearing official (panel) Is contrary to applicable Federal, State or local law. C. A decision by the hearing official (panel) or the APCHO in favor of the project manager or which denies the relief requested by complainant in whole or part shall not constitute a waiver of, nor affect In any manner whatever, the rights the parties may have in a new trial Of judicial review in any proceeding, which may thereafter be brought in the matter. . !' f , :' 27 e ~ . e PART VII. DEFINITIONS Accessible Dwellina Unit - Any dwelling unit that is approachable, functional and can be used by people with disabilities, Independently, safely, and with dignity. Accessory Dwellinq Unit (Ordinance #1, Series of 19901 See Aspen Land Use Code, Supp. No.2, Section 5-510. Affordable Housinq - Dwelling units restricted to the housing size and type for individuals meeting asset, income and minimum occupancy guidelines approved by the Aspen City Council, Board of County Commissioners and/or the APCHO, whichever shall apply. Affordable Housinq Zone District - See Aspen Land Use Code, Supp. No.1, Section 5-206.2. APCHO - Aspen/Pitkin County Housing Office. Assets - Anything owned by an individual which has commercial or exchange value. Assets consist of specilic property or claims against others, in contrast to obligations due others. See also definition for Gross Assets and Net Assets. Basement - As defined by the applicable City or County Land Use Code. Bedroom - Designed to be used for sleeping purposes which may contain closets, may have access to a bathroom and which meets applicable City or County Unilorm Building Code requirements for light, ventilation, sanitation and egress. Buvdown Unit - Free-market which the government (Aspen, Pitkin County, Housing Office) acquired and deed restricted to affordable housing. Capital Improvements - Unless othelWise defined in the Deed Restriction covering the affordable housing unit, any fixture erected as a permanent improvement to real property excluding repair, replacement, and maintenance costs. Caretaker Dwellino Units - See County Land Use Code. Casioner - A joint signatolY of a promissory note who shall not occupy the unit unless qualilied by the APCHO. Deed Restriction - A contract entered into between the APCHO and the owner or purchaser of real property identifying the conditions of occupancy and resale. Dependent - A child or other relative of the renter or owner of an affordable housing unit, which child or relative Is taken and listed as a dependent for federal income tax purposes by such renter or owner or his or her present or former spouse (said dependent must reside with the individual at least 225 days out of any 12-month period of time). Disabled Person - A person who meets the definition of 'individual with handicaps' contained in 29 U.S.C. Section 706(8), as amended, the federal Rehabilitation Act of 1973; or a person who has a 'handicap,' as defined in C.R,S. 24-34-301 (4), the Colorado Antidiscrimination Act, Dormitory - A structure or portion thereof under single management that provides group sleeping accommo- dations for occupants in one (1) or more rooms for compensation. Standards for use, occupancy, and design of such facilities shall be approved by the APCHO. See Part III, Section 4, of these Guidelines. Emeroeney Worker - An employee or volunteer (on call 24 hours/day for human, life threatening emergencies) of a community based organization that provides on- scene assistance giving personal care to victims, including, but not limited to the following: Fire Department Workers, Mountain Rescue, Sheriff's Deputies, Police Officers, Hospital Emergency Room Technicians, Social Service Workers (mental heaith and abuse case workers), Ambulance Drivers and Emergency Medical Tecl1nicians. Employee/Qualified Resident - A person who is employed on the basis of a minimum of 30 hours per week, 9 months per year, in Pitkin County (aiso see definition for Seasonal Employee). 28 Employer - A business whose business address is located within Aspen or Pitkin County, whose business employs employees (as defined herein) within Pitkin County, and whose business taxes are paid in Aspen or Pitkin County. Employee (Non-Profill - A person who works/performs for a non-profit organization. Employees inciude artists, performers, musicians, organizers, bookkeepers, etc., but exciuding construction workers. Non-profit organizations include any certified non-profit organization providing services to and located in Pitkin County. Employee Dwellino Unn - See Pitkin County Land Use Code. Employee Housino - See definition for Affordable Housing. ~ - That interest or value remaining in property after payment of all liens or charges on the property or the monetary interest the owner has over and above the mortgage indebtedness. Familv-Oliented Unn - A dwelling unit attached or detached, 3 bedrooms or more, with direct ground floor access to a useable yard area. Fee Simple Estate - The maximum possible estate that one can possess in real property; complete and absolute ownership of indefinite duration, fre.ely transferabie, and inheritabie. Financial Statement - A statement detailing all personal assets, Iiabilnies, and net worth (the difference between assets and liabilities) as of a specific date. Fixture - 1) A tangible thing which previously was personal property and which has been attached to or installed on land or a structure thereon in such a way as to become a part of the real property. 2) Any non- portable lighting device built in or attached securely to the structure. 3) The permanent parts of a piumbing system and fixtures. Gross Assets - Anything which has tangible or intangible value, including property of all kinds, both real and personal; includes among other things, patents and causes of action which belong to any person, as well as any stock in a corporation and any interest in the estate of a decedent; also, the entire property of a person, association, corporation, or estate that is applicabie or subject to the payment of debts. Gross assets shall include funds or property held in a living trust Or any simiiar entity or interest, where the person has management rights or the ability to appiy the assets to the payment of debts. Gross assets shall not include, where approved by Special Review, pension plans, blind trusts, or other entnies or interests in which a person has no management lights and no ability to apply such assets to the payment of debts, except to the extent that taxable earnings or interest income are derived therefrom. e Gross Income - The total income to include alimony and child support derived from a business, trust, employment and from income-producing property, before deductions for expenses, depreciation, taxes, and similar allowances. Household - All individuals who will be occupying the unn regardless of legal status. Household Net Assets - Combined net assets of all individuals who will be occupying the unn regardless of legal status. Household Income - Combined gross income of all individuals who will be occupying the unit regardless of legal status. Adjustments to the gross for business expenses can be made for persons who are self- employed. Kitchen - For Accessory Dwelling Units and Caretaker Dwelling Units, a minimum of a two-burner stove with oven, standard sink, and a 6-cubic foot refrigerator plus freezer. - Leasehold Interest - A less than fee simple estate which a tenant possesses in real property. LotteIV - A drawing of lots to select a winner from equal appiicants of highest priority. Maximum Bid Plice - Uniess otherwise defined in the Deed Restriction covering the unit, the owner's purchase price multiplied by the appreciation (as permitted by the Deed Restriction) plus the present value of capital improvement costs including labor, if professionally provided, and for which verification of the expenditure is provided. Minimum Occupancy - One person (with a leasehold/ownership interest) per bedroom. A minor child or dependent shall be granted equal status as a person with leasehoid/ownership interest. 29 e, 'J' ~," 'e ~ \ '\:"- e e.. %, <1\ Net Assets - Gross assets minus liabilities. Retirement accounts will be reviewed on a case~by-case basis to determine whether or not they shall be included as a net asset. Net liveable Square Footaqe - Is calcuiated on Interior living area and is measured interior wall to interior wall, inciuding all interior partitions. Also included, but not limited to, habitable basements and Interior storage areas, closets and laundry area. Exclusions Include, but are not limited to, uninhabitable basements, mechanical areas, exterior storage, stairwel1s,'garages (either attached or detached), patios, decks and porches. Permanent Moderate Housinq (PMHl - Also to be known as Affordable Housing (AH). See County Land Use Code. Present Value - For the purposes of these Guidelines and any Oeed Restrictions containing such terms, the present value shall be the cost or price of any capital improvements as established at the time of such improvement and shall be neither appreciated nor depreciated from such time. Primary Residence - The sole and exclusive place of residence. The owner or renter shall be deemed to have ceased to use the unit as her sole and exclusive place of residence by accepting permanent employment outside of Pitkin county, or residing in the unit fewer than nine (9) months out of any twelve (12) months. Qualified Resident - A person(s) meeting the income and asset limitations who meet the profile requirements (part of which requirements include being a qualified employee, a senior, a disabled person, or dependent(s) of any of these as such terms are defined herein) established by the APCHO from time to time and in effect at any time. Resale Acreement - A contract entered into between the APCHO and the owner or purchaser of real property identifying the conditions of occupancy and resaie (aiso commoniy referred to as a Deed Restriction). Seasonal Employee - A person working not less than 30 hours per week during the Winter Season (generally November through April) andlor Summer Season (generally June through August). Senior - A person the age of 62 years or more. Special Review Committee - A Special Review Committee, as established from time to time by the APCHO, is composed of three or more persons representing the APCHO, City staff, County staff" or their respective elected officials. The Committee shall have the authority to review special circumstances with respect to matters specifically designated in the Guidelines that are eligibie for special review. Storace Space - Space intended and commonly utilized as iocation for preservation or later use or disposal of items. 30 . - e APPENDIX A. USTlNG OF PRINCIPAL SALES PROJECTS AND INCOME CATEGORIES (as of January 1994) MAXIMUM INCOMES BY CATEGORY Cateqory 1 Cateqory 2 Cateqory 3 Cateqory 4 Maximum Household Income o Dependent $22,600 $35,900 $51,300 $ 87,100 1 Dependent $27,600 $40,900 $56,300 $ 92,100 2 Dependents $32,600 $45,900 $61,300 $ 97,100 3 or More Dependents $37,600 $50,900 $66,300 $102,100 Single-family Home $42,600 $55,900 $71 ,300 $102,100 NOTES: A household in an income category wishing to purchase or rent a un~ restricted under a higher category may qualify for a un~ restricted under a higher category. CHART OF PRINCIPAL SALE PROJECTS AND REQUIREMENTS NUMBER OF UNITS MAXlMUM REQUIRED PROJECT NAME AND TYPE OF UNITS INCOME CATEGORY RESIDENCY AABC PARK PLACE 24 Units No Income Guidelines Per Covenants AABC ROW HOUSES 12 Units No Income Guidelines Per Covenants CASTLE CREEK 4 Single-Family Category 4 Per Guidelines VALLEY RANCH CENTENNIAL 92 Units Category 4 Per Guidelines EAST OWL CREEK 4 Units Category 4 Per Guidelines FAIRWAY THREE 30 Units Category 4 Per Guidelines HiGHLAND VILLAS 16 Units Category 4 Per Guidelines HUNTER CREEK 77 Units Category 4 Per Guidelines . LONE PINE 28 Units Category 4 Per Guidelines MiDLAND PARK 37 Units Category 4 Per Guidelines OH-BE..JOYFUL 5 Units Category 3 Per Guidelines SMUGGLER MOBILE HOME PARK 87 Units (Moduiar) No Income Requirements Per Covenants SMUGGLER RUN MOBILE HOME PARK 17 Sing ie-Family (Modular) Category 4 Per Guidelines SOPRIS CREEK Lots 1, 2, 5, 7 & 9: Category 3 MEADOWS (CABINS) 6 Units Lot 8: Category 1 Per Guidelines 1WIN RIDGE 12 Townhomes 13 Single-Family (w/Garage) Category 4 Per Guidelines UTE PARK 7 Single-Famiiy Category 4 Per Guidelines WEST HOPKINS 11 Units Category 2 and 3 Per Guidelines WILLIAMS WOODS I 18 Units \ Category 2 and 3 ' Per Guidelines I TOTAL I 496 Units I \ APPENDIX B. USTlNG OF PRINCIPAL RENTAL PROJECTS AND INCOME CATEGORIES (as of January 1994) MAXIMUM INCOMES BY CATEGORY . Income Percentile Cateoory 1 25% Cateoory 2 50% Cateoory 3 75% Cateoory 4 >75% Maximum Household Income o Dependent 1 Dependent 2 Dependents 3 or More Dependents Single-family Home $22,600 $27,600 $32,600 $37,600 $42,600 $35,900 $40,900 $45,900 $50,900 $55,900 $51,300 $56,300 $61,300 $66,300 $71,300 $ 87,100 $ 92,100 $ 97,100 $102,100 $102,100 NOTES: 1. A household in an income category wishing to purchase or rent a unil restricted under a i1igher category may quaiify for a unil restricted under a higher category. 2. In addition to the income categories set forth above, affordable housing units may be designated "Resident Occupied Units" and have different income and occupancy qualilications as set forth in the Guidelines. CHART OF PRINCIPAL RENTAL PROJECTS AND REQUIREMENTS NUMBER OF UNITS MAXIMUM REQUIRED PROJECT NAME AND lYPE OF UNITS INCOME CATEGORY RESIDENCY AABC APARTMENTS 40 Units Category 3 Per Covenants CASTLE RIDGE 80 Units Category 3 Per Covenants CENTENNIAL 148 Units Category 1 and 3 Per Guidelines CLARK'S MARKET APARTMENTS 18 Units N/A - Resident Occupied Per Covenants HUNTER LONGHOUSE 28 Units Category 3 Per Guidelines HUNTER LONGHOUSE ADD'N 5 Units Category 3 Per Guidelines MAROLT RANCH Permanent 4 Units Category 3 Seasonal 96 Units N/A Per Guidelines MOUNTAiN OAKS/HOSPITAL 21 Units Hospitai Priority Per Hospital SMUGGLER MOUNTAIN APARTMENTS 11 Units Category 1 Per Guidelines TRUSCOTT PLACE Permanent 46 Units Category 3 Per Guidelines Studios 50 Units N/A W/J Ranch Old 35 Units N/A - Resident Occupied Per Guidelines New 27 Units Category 3 and 4 TOTAl 513 Units Permanent ..ill! Units Seasonal 609 Units .' j" ~ .' (It <<.' 'Z '."" . APPENDIX C. USTING OF PRINCIPAL RENTAL PROJECTS AND PROPERTY MANAGERS (as of January 1994) AABC Apartments Lynn Hancock 303 Aspen Airport Business Center Aspen, CO 81611 (303) 925-2102 40 Apartments Castle Ridge Apartments Maxine Jacobs, Resident Manager 1175 Doolittle Circle, #603 Aspen, CO 81611 (303) 925-6851 80 Apartments Centennial Apartments Kim Keilin, Property Manager 100 Luke Short Court Aspen, CO 81611 (303) 925-1876 148 Apartments Hunter Longhouse Apartments Julie Estes, Property Manager 101 Lone Pine Road, #20 Aspen, CO 81611 (303) 925-9474 33 Apartments Marolt Ranch (Seasonal Housing) Bruce Nethery, Property Manager Aspen/Pitkin County Housing Authority 530 East Main, Lower Level Aspen, CO 81611 (303) 920-5050 96 Seasonal Units Smuggler Mountain Apartments Terry Kappeli, Chief of Property Management Aspen/Pitkin County Housing Authority 530 East Main, Lower Level Aspen, CO 81611 (303) 920-5050 11 Apartments Truscott Place Apartments Terry Kappeli, Chief of Property Mgmt. Aspen/Pitkin County Housing Authority 530 East Main, Lower Level Aspen, CO 8161 1 (303) 920-5050 46 Apartments 50 Studios W/J Ranch Apartments Bill & Karen Slater, Property Managers McLain Flats Road Aspen, CO 81611 (303) 925-7211 27 Apartments APPENDIX D. MElHODOLOGY PAYMENT-IN-UEU SCHEDULE Under certain conditions, developers may satisfy the affordable housing requirement by payment of an affordable housing impact fee (payment-In-lieu). The amount of the payment is based on the actual cost to purchase land and construct units and the price for which units may be rented or sold. The payment-in-lieu schedule for 1 993 is based on the cost of an actual project CNest Hopkins Affordable Housing). We calculated the actual cost of each unit, from one bedroom to three bedrooms, and subtracted the sales price for that unit at each category (1, 2, 3 or 4). The result was the total subsidy required for each West Hopkins unit. This amount was divided by the average number of employees who would live in each unit. for a total subsidy per employee. The averaqe of these is the amount of payment in lieu per employee in each category. West Hopkins: Land Cost Construction TOTAL 11 units $ 950,000 1,263,200 $2,213,200 Subsidy/ Unit tvpe Size Cost Price Subsidv Employees Emplovee 1 BR CAT 1 654 $131,668 $ 32,000 ($ 99,668) 1.75 ($56,953) 1 BR CAT 2 131,668 69,000 ( 62,668) 1.75 ( 35,810) 1 BR CAT 3 131,668 106,500 ( 25,168) 1.75 ( 14,382) Average 1 BR CAT 4 131,668 173,500 41,832 1.75 23,904 Subsidy 2 BR CAT 1 1,084 $218,080 $ 38,500 ($179,580) 2.25 ($79,813) ($68,906) 2 BR CAT 2 218,080 79,000 ( 139,080) 2.25 ( 61,813) ( 51,026) 2 BR CAT 3 218,080 116,500 ( 101,580) 2.25 ( 45,146) ( 34,160) 2 BR CAT 4 218,080 183,500 ( 34,580) 2.25 ( 15,369) ( 3,973) 3 BR CAT 1 1,267 $254,860 $ 45,000 ($209,860) 3.00 ($69,953) 3 BR CAT 2 254,860 88,500 ( 166,360) 3.00 ( 55,453) 3BRCAT3 254,860 126,000 ( 128,860) 3.00 ( 42,953) 3 BR CAT 4 254,860 193,500 ( 61,360) 3.00 ( 20,453) l. t . f ...... " ,1 t .~[ E!r &: ~ it ffi g: f ~.. f ~-. ~ @ %. ~. L f I ! ~ ;": , 1 , t: , i L r t ~. .' r ~';-. 'i- . ~. ~ , ~ ~' c i~ , ,. , , ! -, r !