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Home My WebLink Aboutordinance.council.029-00 ORDINANCE NO. 29 (Series of 2000) AN ORDINANCE ADOPTING THE 2000 AFFORDABLE HOUSING GUIDELINES AS RECOMMENDED BY THE ASPEN/PITKIN COUNTY HOUSING AUTHORITY WHEREAS, pursuant to the Municipal Code of the City of Aspen, as amended, the Housing Income, Eligibility Guidelines and Housing Price Guidelines areto be established by the City Council; and WHEREAS, pursuant to pdor resolutions and ordinances of the City, the City Council established Employee Housing Income-Eligibility Guidelines and Housing Price Guidelines for pdor years; and WHEREAS, the 2000 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 2000 Housing Office qualification guidelines for Category 1, 2, 3, 4 and Resident Occupied (RO) 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: Section 1 That the City Council of the City of Aspen hereby adopts the 2000 Affordable Hou~g 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 tothe extent inconsistent with the provisions of this Ordinance, all pdor 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 foroe 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 orliability under any ordinance in effect pdor to the effective date of this Ordinance, and the same shall be continued and concluded under such prior ordinances. Section 5 A public hearing on the Ordinance shall be held on the 24th day of July, 2000, inthe City Council Chambers, City Hall, Aspen, Colorado. INTRODUCED, READ, AND ORDERED PUBLISHED as provided by law by the City 1 ~ day of July, ~ ~~.~. Council of the City of Aspen on the 2000. ATTEST: Kathryn S.~och, City Clerk FINALLY adopted, passed and approved this 24th day of July, 2000. ~ e Richards, M~ ATTEST: ity Clerk \guide~c.ord 3 ASPEN/PITKIN COUNTY 2000 AFFORDABLE HOUSING GUIDELINES Effective July 26, 2000 HOUSING A UTHORITY BOARD Jacquelyn Kasabach - Chairperson ~ Vice Chairperson Carl Bri~ton - Treasurer George Burson - County Appointee Tim Semrau - City Appointee Patrick Sagal, County Appointee Steve Elliot - County Alternate Tom McCabe - City Council Representative Mick Ireland - BOCC Representative Wish to thank: THE ASPEN CITY COUNCI£ Mayor Rachel Richards Tom McCabe - Councilman Terry Paulson - Councilman Jim Markalunas - Councilman Tony Hershey - Councilman And THE BOARD OF COUNTY COMMISSIONERS Shellie Roy Harper- Chairperson Dorothea Farris - Commissioner Mick Ireland - Commissioner Leslie Lamont - Commissioner Patty Clapper - Commissioner for their continued support. TABLE OF CONTENTS Page TABLE OF CONTENTS ........................................................................................................................................... PURPOSE ................................................................................................................................................................. HOUSING BOARD POLICY STATEMENT ............................................................................................................. 2 PART I. AFFORDABLE HOUSING CATEGORIES SECTION 1. Category Incomes ..................................................................................................................... 3 SECTION 2. Resident Occupied Units .......................................................................................................... 4 PART I1. RENTING AFFORDABLE HOUSING SECTION 1. Qualifications to Rent Affordable Housing ................................................................................ 5 SECTION 2. Initial Qualification to Rent ....................................................................................................... 6 SECTION 3. Requalification for Rental of Affordable Housing ...................................................................... 7 SECTION 4. Rental Enforcement .................................................................................................................. 8 SECTION 5. Rental of an Ownership Unit ..................................... ~ ............................................................... 9 SECTION 6. Management of Rental Units .................................................................................................... 9 SECTION 7. Rental Waitlist ........................................................................................................................... 10 SECTION 8. Emergency Worker ................................................................................................................... 10 PART II1. PURCHASING AFFORDABLE HOUSING SECTION 1. Qualifications to Pumhase Affordable Housing ........................................................................ 11 SECTION 2. Initial Qualitication to Purchase ................................................................................................ 13 SECTION 3. Qualifications for Pumhase of Resident Occupied Units .......................................................... 14 SECTION 4. Maintaining Eligibility for Ownership of Affordable Housing ..................................................... 15 SECTION 5. Purchase Enfomement ............................................................................................................. 16 SECTION 6. Priorities for Persons Bidding to Purchase an Affordable Housing Unit .................................. 16 PART IV. LOTTERY PROCESS ............................................................................................................................ 20 PART V, PROCEDURES FOR THE SALE OF A CATEGORY AFFORDABLE HOUSING UNIT SECTION 1. Listing a Unit with the Housing Office .......... i ............................................................................ 21 SECTION 2. Advertising the Sale: Bid Periods ........................................................................................... 22 SECTION 3. Fees for Listing and Sales ........................................................................................................ 22 SECTION 4. Deed Restriction ........................................................................................................................ 23 SECTION 5. Co-Ownership and Co-Signature .............................................................................................. 23 SECTION 6. Sale or Resale of Resident Occupied Units ............................................................................. 24 SECTION 7. Sale of Single Family Lots ....................................................................................................... 25 SECTION 8. Leave of Absence for Owners of Affordable Housing Units .....................................................25 SECTION 9. Roommates in Sales Units ........................................................................................................ 26 PART VI, SPECIAL REVIEW ................................................................................................................................. 28 PART VII. INFORMATION FOR DEVELOPMENT OF AFFORDABLE HOUSING SECTION 1. Priorities for the Affordable Housing Units ............................................................................... 29 SECTION 2. Affordable Housing Units Required for Mitigation ................................................................... 30 SECTION 3, Requirements for Affordable Housing Units in Residential Subdivisions ................................. 32 SECTION 4. Requirements for AH Units under the Multi-Family Housing Replacement Program .............. 32 SECTION 5. Requirements for the Affordable Housing Zone District .......................................................... 32 SECTION 6. Dedication Fee for Exempt Single-Family Home and Duplex Units ....................................... 34 TABLE OF CONTENTS (continued) PaRe SECTION 7. Resident Occupied Units ......................................................................................................... 34 SECTION 8. Net Minimum Livable Square Footage for Newly Deed Restricted AH Units .......................... 36 SECTION 9. Maximum Sales Prices for Newly Deed Restricted AH Units & Lots ....................................... 37 SECTION 10. Maximum Monthly Rental Rates for Newly Deed Restricted AH Units .................................... 38 SECTION 11. Requirements for Dormitory/Lodge (Seasonal Units) ............................................................... 39 SECTION 12. Affordable Housing Dedication Fee (Payment-in-Lieu Fee) .................................................... 40 SECTION 13. Conveyance of Vacant Lots ...................................................................................................... 43 SECTION 14. Deed Restricting Existing Dwelling Units ................................................................................. 44 SECTION 15. Execution of Deed Restrictions by Applicants .......................................................................... 45 SECTION 16. Maximum Vacancy .................................................................................................................... 45 PART VIII. MAXIMUM ANNUAL RENT INCREASE FOR EXISTING RENTAL UNITS ................................... 46 PART IX. GRIEVANCE PROCEDURES ........................................................................................................... 47 PART X. DEFINITIONS .................................................................................................................................... 48 PART XI. .aPPENDIX A. Maximum Household Incomes and Assets per Category ........................................................ 53 B. Chart of Principal Ownership Projects .......... ~ ........................................................................... 54 C. Chad of Principal Rental Projects and Requirements .............................................................. 56 D. Listing of Principal Rental Projects and Property Managers .................................................... 57 E. Glossary- History of Changes ......................................... .. ....................................................... 58 TABLES I Maximum Incomes by Category ............................................................................................... 4 II Minimum Net Livable Sq. Ft. for Each Unit Type and Income Category ................................. 36 III Maximum Unit Sales Prices ...................................................................................................... 37 IV Maximum Monthly Rent ............................................................................................................ 38 V Occupancy Standards by Unit Type ......................................................................................... 42 PURPOSE "To assure the existence of a supply of desirable and affordable housing for persons currently employed in Pitkin County, persons who were employed in Pitkin County prior to retirement, the disabled, and other qualified persons of Pitkin County." - Aspen/Pitkin County Housing Authority's Goal - (Originally Adopted !983) Each year the Aspen/Pitkin County Housing Authority (hereinafter the Housing Office) 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 Housing Office's goals and are not intended to supersede City or County Land Use Codes or the Uniform Building Code. The 2000 Affordable Housing Guidelines respond to housing needs in Aspen and Pitkin County as identified by the Housing Office. The guidelines are used to: · Review land use applications · Establish affordable rental rates ' · Establish affordable sales prices · Establish criteria for qualifications and occupancy · Develop and prioritize current and long range housing programs a Provide information and a process for developing affordable housing It is the intent of the Housing Program to provide housing opportunities for persons who are or have been actively employed or self-employed in Pitkin County, which provide goods and services to individuals, businesses or institutional operations in Pitkin County. These Affordable Housing Guidelines shall remain in effect until such time as the Housing Board, the City Council and the Board of County Commissioners approve new or amended Guidelines. 2000 Aspen/Pitkin County Housing Guidelines Page 1 of 57 HOUSING BOARD POLICY STA TEMENTS The purpose of this section is to assist the staff, development community and public in understanding the Housing Board's philosophies regarding various aspects of the program. These Policy Statements will be reviewed and revised by the Housing Board on an annual basis. Mitigating Affordable Housing Impacts The Housing Board has prioritized the following options in order of preference depending on the site location: On-Site Housing - that the location of a deed restricted property used for construction or redevelopment of a property for mitigation purposes be either next to or attached to the development. 2. Off-Site Housing - that the location of a deed restricted property used for construction or redevelopment of a property for mitigation purposes be at a separate location approved by the Housing Office. 3. Cash-In-Lieu or Land-in-Lieu - that the applicant for a development may, under certain conditions and subject to certain requirements, satisfy the mitigation requirement by payment of an affordable housing dedication fee or a donation of land. The preference of cash or land shall be determined on a case-by-case basis. Development and Construction of Affordable Housing The Housing Board has prioritized the following options in order of preference regarding the types of units to construct: 1. Entry level studio and 1-bedroom sales units in Categories 1,2 and lower priced Category 3. 2. Rental units in Categories 1, 2 and lower priced Category 3~ (DELETE.now due to the Telluride case) 3. Family-oriented sales units, 3- and 4-bedrooms in Categories 3 and 4. 2000 Aspen/Pitkin County Housing Guidelines Page 2 of 57 PART L AFFORDABLE HOUSING CA TEGORIES The Housing Office's goal is to establish and implement a plan to provide housing within the community. Rental rates and sales prices are established which are affordable to persons and families of Iow (Category 1), moderate (Categories 2 and 3) and middle (Category 4) income as related to housing costs in Aspen and Pitkin County. 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 CATEGORY INCOMES Prior to 1990, income categories were designated as Iow, moderate .or middle ' ncome )n accordance with the applicable Guidelines at that time. In 1990, APCHA redefined the terms and established four income categories in an effort to create a greater variety of units to serve the community's income levels. The four income categories were equated to the past income categories and adjusted annually using the Consumer Price index Current income amounts were derived from 1999 data collected by the APCHA inciudit~g: 1999 Housing Survey of Pitkin County Em ployees; Colorado Department of Labor and Employment reports; Colorado Department of' Employment .and Wages. reports; U.S. Census Bureau: Flow of Funds'Accounts Report and Ann'ual Expenditures Per Child Report; and Housing and Urban Development Data Sets. The survey of Pitkin County .employees determined that the median household :income for households with zero and one dependent was $60,D00. Category I Iow income level Category 2 lower moderate income level Category 3 upper moderate income level Category 4 middle income/eve/ The maximum gross household income (defined in the Definitions) for each income category is set forth in Table I. If net assets exceed the Category 4 net asset limit for any household with a Category 1, 2 or 3 income, the following method will be used to calculate income: Each $45,000 of excess assets over $22:5 000 (the Category 4 asset imit) will.be.converted to $4,1 52 of ncome and added to the Gross 'Household income. This is the amount necessary to purchase $.3;~6 per month of mortgage at an 8.5% interest rate over 30 years. Although this adjustment does not place a maximum cap on net assets, it creates greater equity between income categories by causing assets to count more towards income. 2000 Aspen/Pitkin County Housing Guidelines Page 3 of 57 TABLE I MAXIMUM INCOMES BY CATEGORY Maximum rental incomes are different than maximum sales incomes. Due to the nature of the working adult in Pitkin County and the wages that are required to maintain a consistent employee base, the Housing Office and Board have recognized the need for a higher allowable income adjusted by the number of adults and the bedroom mix. Maximum sales incomes are not attributed to the number of bedrooms, but will remain the same per household, with an adjustment to dependents only. Maximum Incomes for RENTAL Units Only (See Income verification, Part II, SectiOn 2~ NO. I.) No. Of Adults Category 1 Category 2 Category 3 · Category ~ One Adult $25,500 $40,500 $65;750 $106;000 Two Adults 38,250 60,750 98~625 159,000 Three Adults 44,625 70;8.75 ] 15~075 ~ 85,500 Net Assets not in Excess of 150,000 175,000 200,000 22:5~000 Maximum Incomes for SALES/OWNERSHIP Units Only (See Income Verification, Part Ill, Section 2, No. 1) No. of Dependents Category 1 Cateqory 2 Category 3 Category 4 0 Dependents $25,500 $40,500 $65,750 $106,000 I Dependent 33,000 48,000 73,250 113,500 2 Dependents 40,500 55,500 80,750 ]21,000 3 or More Dependents 48,000 63,000 88,250 ! 28,500 Net Assets Not in Excess of ] 50,000 175,000 200,000 225,000 NOTE: A household can qualify to purchase or rent a unit in a higher category. SECTION 2 RESIDENT OCCUPIED .UNITs In addition to the income categories for affordable housing units set forth in Table I above, affordable housing, units may also be designated "Resident Occupied" (RD) uhits. Persons shall occupy RD units who qualify as stated in Part III, Section 3~ QUalifications for. Purchase of Resident OCcupied'Units. Resident Occupied units with deed restrictioris recorded prior to the establishment of the Ro' Guidelines are.sUbject to ;thei~ individual deed restrictions. Information on Resident Occupied Units is also found: ih Part Ill, Section 3, Purchasing Affordable Housing; Part ¥, Section 7, sales of Affordable Housing; and Part Vii, Section 6, Development of Affordable Housing~ 2000 Aspen/Pitkin County Housing Guidelines Page 4 of 57 PART II. RENTING AFFORDABLE HOUSING SECTION 1 QUALIFICATIONS TO RENT AFFORDABLE HOUSING To qualify, be eligible, and remain eligible to rent and reside in a long-term affordable housing unit (Category 1, 2, 3, or 4 or long-term at Marolt & Truscott), a person/ household must meet the following criteria and must not be over the maximum income as stipulated in the table below: Maximum Incomes for RENTAL Units On.ly (See Income Verification, Part 11, Section 2, No. 1) No. Of Adults Category 1 Category 2 Category 3 Category 4 One Adult $25,500 $40,500 $65,750 $106,000 Two Adults 38,250 60,750 98,625 159,000 Three A~dults ' 44,625 70~875 '115,075 185,500 Net Assets not in Excess of 150,000 175,000 200,000 225,000 1. Be a full-time employee working in Pitkin County; or a retired person who has been a full-time employee in Pitkin County a minimum of four years immediately prior to his or her retirement defined in the Guidelines; 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 defined in the Definitions); or the spouse of any such employee, retired person, or disabled person; a dependent living with that qualified employee, retired person or disabled person. 2. Upon rental of the 'unit, employee(s) shall occupy the unit as the primary residence. 3. The tenant must not own developed residential real estate or a mobile home in those portions of Eagle, Garfield, Gunnison or Pitkin Counties, which are part of the Roaring Fork River drainage. If vacant land is owned in the portions of these counties, which are part of the Roaring Fork River drainage, while leasing an affordable housing unit, the land must remain unimproved. If the land is improved with a residence the individual must then relinquish the affordable housing unit by vacating the rental unit. 2000 Aspen/Pitkin County Housing Guidelines Page 5 of 57 5. The tenant must have total current household income and assets no greater than the maximum amount specified for the particular Category 1, 2, 3 or 4. Any renter 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 ineligible. 6. If the Tenant's residency began prior to ownership by the City, County or Housing Office as a result of a "Buydown" situation, and the Tenant's residency has been continuous since that time, the Tenant must qualify on/yas a full-time employee. The Tenant does not have to qualify under the Income or Asset provisions. The Tenant will be required to pay rent commensurate with his or her household income regardless of the price category of the unit. 7. Eme'rgency workers receive priority for rental units. They must. Verify their · continued service(see Definitions), to that agency~for their lease to be renewed. This requ'irement expires after tWo years of residency/service See'P~rt Ii, Section 8, 'Emergency Worker, to See if you are eligible fo:ran emergency worker Priority and the process that needs to be followed. SECTION 2 INITIAL QUALIFICATION TO RENT In order to determine that a person or household desiring to rent an affordable housing unit meets all of the criteria set forth in Section 1 above, PRIOR to occupancy, the Housing Office must review and have on file specific documentation which provides proof of: residency, employment, income and assets. The Housing Office may request any or all of the following documentation. (All information and documentation received will remain confidential). 1. Income Verification: a. Copy of the previous year's (must current) Federal Income Tax return. b. Current income and financial statement verified by the applicant to be true and correct. If there is a variance of more than or less than 20% between current income and income reported on the previous year's tax returns, the incomes will be averaged. This will establish the income category. c. Applicants may, upon request, have the option to have their gross income averaged over a three-year period for qualification. d. Social Security report of employer(s) and location(s). If the above information is not available, the applicant must provide other documentation as requested by the Housing Office. 2000 Aspen/Pitkin County Housing Guidelines Page 6 of 57 2. Employment Verification: a. All W-2 forms from the current or previous year (Waitlist tenants must provide documentation of employment for the full term that their name was on the waitlist). b. Wage stubs (if W-2's are not available). c. Employer(s) name, address, telephone and dates of employment. d. Housing Office "Employment Verification Form" [signed by employer(s)]. e. Evidence of legal residency. f. Landlord verification of residency, stating specific dates. g. Valid Pitkin County Driver License. h. Valid Pitkin County Voter Registration. i. Verification of telephone service in Piti<in County. j. Divorce Decree or Separation Agreement, including alimony and child support. A copy must indicate that it has been entered in the record with all exhibits and supplements attached. If the above information is not available, the applicant must provide other documentation as requested by the Housing Office. Note: Applicants for Affordable Housing will verify on the application that all information provided is true and accurate. If any of the information is determined to be inaccurate or non-verifiable, the applicant may be subject to disqualification by the Housing Office from the application and/or approval process. SECTION 3 REQUALIFICATION FOR RENTAL OF AFFORDABLE HOUSING The status of Renters/Tenants of Affordable Housing Units shall be reviewed and verified every other year (biannually) to ensure that they continue to meet the requirements of the Guidelines, including but not limited to: Minimum Occupancy, Income and Asset Requirements, and Employment. Housing Office Responsibilities: 1. The Housing Office shall endeavor to cause the Landlord'. to provide' the Tenant written notice of the requirement for requalification at least thirty (30) days prior'to the expiration of the' two years. 2. The Housing Office will provide to the '~enant a copy of the Rental Approval form with instructions. 2000 Aspen/Pitkin County Housing Guidelines Page 7 of 57 Landlord Responsibilities: I. The Landlord shall provide disclosure in the lease that tenants must be qualified every two years and must reapply in the second year. 2. The Landlord shall provide the Tenant written notice of the requirement for requaiification at least thirty (30) days prior to the expiration of the two years. The Housing Office'Rental Approval form should accompany'this no~ice. 3. Provide the HouSing Office a copy of the lease signed by both parties, prior to Tenant o.ccupancy. Tenant Responsibilities: 1. Renters must meet all of the initial Qualifications stated previously in Section 1. 2. If the Tenant does not receive the Landlord's notice or the Rental Approval form, the Tenant must contact the Housing Office by telephone, 920-5050, or in person, 3. The'Tenant must pay a $~ 5 ReqUalification Fee when the documentation is .filed with.the Housing Office. SECTION 4 RENTAL ENFORCEMENT 1. All qualification items from Section 1, 1-8, are verified every two years by the Housing Office staff. 2. Roommates are permitted under the Guidelines. Individuals residing in two or three bedroom u~its must, at all times, have.the unit' 'fil ed with qualified tenants. In case of a vacancy, the.remaining tenant(s)is/are, respOnsible.to find aneW roommate 'within forty five (45)' days. 'All' residents must be qualified · thrOugh'tl~.e Hous ng OffiCe prior to :occupancy~ 3. The Minimum Occupancy Requirement of one qualified individual per. bedroom must be met.' 4. The Housing Office may do random audits and inveStigates complaints or reports of non-compliance on an ongoing'basis. 2000 Aspen/Pitkin County Housing Guidelines Page 8 of 57 SECTION 5 RENTAL OF AN OWNERSHIP UNIT A unit may, upon approval of the Housing Office, be rented to a qualified individual, in accordance with the Guidelines for a maximum period of two (2) years. Terms and Conditions: 1. 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 Housing Office. 2. A letter must be sent to the Housing Office requesting permission to rent the unit. 3. A minimum six (6) month written lease must be provided to the tenant, with a fortyTfive (45) day. move out clause, excePt fOr non-profit employee/faculty tenantS~ where a three-month lease or a month-to-month lease shall be allowed, A three-mOnth rental must be approved as a Leave of Absence under Pai-t V, Section' 8. 4. The Housing Office must qualify all tenants, and shall waive the income and asset requirements for non-profit tenants. The tenant must be a qualified employee as stipulated in these Guidelines, or non-profit employee/faculty member as defined in these Guidelines. The unit must be leased for 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 Housing Office. 5. Prior to the Housing Office's qualification of the 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. 6. A copy of the executed lease shall be furnished by the owner or tenant to the Housing Office and homeowners' association. SECTION 6 MANAGEMENT OF RENTAL UNITS Private management companies manage most of the rental projects. Each specific complex may differ in its rental procedures. Persons desiring to rent an Affordable Housing unit must meet employment and income requirements as well as minimum occupancy. A list of the rental projects and managers is located in Appendix O. 2000 Aspen/Pitkin County Housing Guidelines Page 9 of 57 Units managed by the Housing Office are Truscott Place, Smuggler Mountain Apartments, Aspen Country Inn and Marolt Ranch Seasonal Housing. Please contact the Housing Office or individual property managers for specific rental information. SECTION 7 RENTAL WAITLIST The Housing Office maintains a Waitlist of rentals for some projects. Due to increasing demand and limited supply, the length of time to obtain affordable rental housing currently ranges from two to four years. Prospective'tenants must remain working full time in Pitkin County during the.Waitlist period in order to maintain their position on the Waitlist. Proof of Pitkin County employment must be provided at the time of QualifiCation for the full term of the Waitlist period. Once established on the Waiflist, the waitlisted person must update his/her status every ninety days. Updating may be done as frequently as once a month. SECTION 8 EMERGENCY WORKER An emergency worker may be placed on the top of the rental waitlist if they. are approved as a qualified Emergency Worker through :the. Public Safety. Council Committee review and: as defined under the Definit/ons section herein. The individual's supervisor' must request the priority, in writing, to the Public'Safety Council. Housing Subcommittee. This Subcommittee will consist, of' members from any emergency worker department, a member of the Public Relations Board (PRi]) and a member of the Housing Office staff. It is the responsibility of the supervisor to prove to the PUblic Safety Council that the emDloyee is a required emergency response priority. The member of the PRE, and the Housing Office will not vote, but will comment on wheth'er.'[he individual should be allowed the priority. If the Public Safety Council Housing Subcommittee approves the individual 'for priority status, written verification must be provided to the Housing Office. At such time, the Housing Office will place the individual at the top of the rental .waitlist for City-owned projects. 2000 Aspen/Pitkin County Housing Guidelines Page 10 of 57 PURCHASING AFFORDABLE HOUSING SECTION ] QUALIFICATIONS TO PURCHASE AFFORDABLE HOUSING To qualify, be eligible, and remain eligible to purchase and res/de i/~ an affordable housing unit, a person/household must meet the following criteria and must not be over the maximum income as stipulated in the table below: Maximum Incomes for SALES/OWNERSHIP Units Only No. of Dependents Category ] Category 2 Category 3 Category 4 0 Dependents $25,500 $40,500 $65,750 $l 06,000 1 Dependent 33,000 48,000 73,250 113,500 2 Dependents 40,500 55,500 80,750 121,000 3 or More Dependents 48,000 63,000 88,250 128,500 Net Assets Not in Excess of 150,000 175,000 200,000 225,000 NOTE: A household can qualify to purchase a unit in a higher category. l. Be a full-time employee working in Pitkin County; or a retired person (see De£//7/t/o/Ts) who has been a full-time employee in Pitkin County a minimum of four years immediately prior to retirement as defined in the Guidelines; 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 defined in the Definitions); or the spouse of any such employee, retired person, or disabled person or a dependent living with that qualified employee, retired person or disabled person. 2. Upon purchase of the unit, employee(s) shall occupy the unit as the primary residence. 3. The purchaser/owner must not own developed residential real estate or a mobile home in those portions of Eagle, Garfield, Gunnison or Pitkin Counties, which are part of the Roaring Fork River drainage. If property is owned, the purchaser/owner must mist for sale, at competitive market prices, the residential real estate or mobile home prior to or simultaneously with closing on the affordable housing unit and still meet the asset/income limitations as set forth in Table I. The purchaser must provide the Housing Office with a copy of the 2000 Aspen/Pitkin County Housing Guidelines Page 1'1 of 57 appraisal of the property. Upon the sale, a copy of the closing documents indicating the sale price must be provided to the Housing Office. 4. 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 Housing Office to be appropriate under the circumstances. 5. If vacant land is owned in the portions of Eagle, Garfield, Gunnison or Pitkin, which are part of the Roaring Fork River drainage, while owning an affordable housing unit, the land must remain unimproved. If the land is improved with a residence, the individual must then relinquish the affordable housing unit by listing and selling the ownership interest in that unit. NOTE: Persons owning improved resident/a/property, residing in affordable housing pr/or to May I, Ig94, wi// be allowed to retain ownership of that residential property and still be eligible to reside in affordable housing. However, once the residential property is sold, the person residing in affordable housing may not acquire additional residential property and remain eligible to reside in affordable housing. A business owner, where the individual owns a deed restricted unit, has. an opportunity to purchase another unit in the Roaring Fork di'a!nage system under the following conditions: I) the business owner would contact APCHA that a unit has been fOund in. the free market that they would like to purchase; 2) the business owner would then discuss with the APCHA the needs of the -owner; 3) the specific Category would be.agreed to by both parties. (theowner and APCHA) and .4) the Housing Office has .the option to approve the request as long as a recorded deed restriction is placed om the free market property relating to the business. The employer would only be allowed to rent the unit to a qualified employee of Pitkin County unless the unit is' located in the downvalley area. Should the unit be located downvaliey, the owner would be'.allowed to rent to an individual employed somewhere in the Roaring Fork Drainage System as long as their employee would have the first right of refusal, with the second right of refusal going to someone employed, in Pitkin County, withthe last right to any other qualified;employee. 6. The purchaser/owner must have total current household income and assets no greater than the maximum amount specified in Section I above for the particular category. Any 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 ineligible. Maximum net asset limits for households, which consist of at least one citizen of retirement age, are 150% of the applicable income category. 2000 Aspen/Pitkin County Housing Guidelines Page 12 of 57 NOTE: The ownership of any property shall be considered in determining Maximum Net Assets. NOTE: Qualification #6 is applicable at the time of purchase ONLY. After purchase, owners must continue to meet criteria 1-5 above to continue to own and reside in affordable housing. SECTION 2 INITIAL QUALIFICATION TO PURCHASE In order to determine that a person or household desiring to purchase an affordable housing unit meets all of the criteria set forth in Section 1 above, the Housing Office must review and have on file specific documentation which provides proof of: residency, employment, income and assets. The Housing Office may request any or all of the following documentation. All information and documentation received will remain confidential. 1. income Verification: a. Copies of the past two years complete Federal income tax returns, with W2's attached. b. Current income and financial statement verified by the applicant to be true and correct. If there is a variance of more than or less than 20% between current income and income reported on the previous year's tax returns, the incomes will be averaged. This will establish the income category. c. Social Security records, or W2's for all the years worked in Pitkin County. If the above information is not available, the applicant must provide other documentation as requested by the Housing Office. 2. Employment Verification: a. All W-2 forms from a minimum of the previous four years (purchase). b. Wage stubs (ifW-2's are not available). c. Employer(s) name, address, telephone and dates of employment. d. Housing Office Employment Verification Form [signed by employer(s)]. e. Evidence of legal residency. f. Landlord verification of residency, specific dates. g. Valid Pitkin County Driver License. h. Valid Pitkin County Voter Registration. i. Verification of telephone service in Pitkin County. 2000 Aspen/Pitkin County Housing Guidelines Page 13 of 57 Divorce Decree or Separation Agreement including alimony and child support. A copy must indicate that it has been entered in the record with all exhibits and supplements attached. k. Applicants desiring to purchase a unit will be required to sign a release in order for the Housing Office to obtain a copy of the loan application from the lenderl If the above information is not available, the applicant must provide other documentation as requested by the Housing Office. Note: Applicants for Affordable Housing will verify on the application that all information provided is true and accurate. If any of the information is determined to be inaccurate or non-verifiable, the applicant may be subject to disqualification by the Housing Office from the application and/or approval process. .SECTION 3 QUALIFICATIONS. FOR THE PURCHASE OF RESIDENT OCCUPIED UNITS Purchasers of Resident Occupied affordable housing must meet all of the criteria as stated below: 1 ~ income Verification: a. Ca pies of the past two years complete Federal income tax returns, with W2's attached. b. Current income and financial statement verified'by the applicant to be true and correct. If there is a variance of more than~ or less than 20% between current 'ncome and income reported on the previous year's tax ret~Jrns, the incomes will be averaged. This will establish the Income category. c. Social Security records, or W2's for all the years worked in Pitkin County. If the above, information is not available, the applicant must provide other documentation as requested by the Housing Office. 2. Employment Verification: a. All W-2 forms from a..minimum of the' previous four years (purchase). b. Wage stubs (if W-2's are not available). c. Em ployer(s).name, address, telephone and. dates of employment. d. Housing Office' Employment Verification Form [Signed by em ployer(s)]. e. Evidence of legal residency. 2000 Aspen/Pitkin Oounty Housing Gufdelines Page '~4 of 57 f. Landlord verification of residency,, specific dates. g. Valid Pitkin County Driver-License. h. ~/alid Pitkin County Voter Registration. i. Verification of'telePhone'service in Pitkin County. j. Divorce Decree or Separation Agreement including alimony and child support. A Copy must indicate that it has been'entered in the record with all exhibits and 'supplements attached. k. Applicants desiring to purchase a unit will .be.required to sign a release in order for the Housing Office to obtain a copy of the loan application from the lender. If the above information is not' available, the applicant must provide other documentation as requested by the Housing Office. 3. Additional Requirements: a. Gross income and net assets are limited. The amount allowed is that which permits a household to qualify for a $600,000 purchase as follows: i) when all net assets are to be counted as a down payment; and ii) 28% of gross income is available to finance the remainder of the purchase price at an 8% interest rate amortized over 30 years. b. See the deed restriction for the specific RO unit for any other additional restrictions and/or conditions, Resale of RO Units: The owners of an RO unit must.list the unit through, the Housing Office, unless the specific 'deed restriction states otherwise.- At the time of the listi'ng, the Owne~ will pay t~° the .Housing Office ~1% sales fee. 'The unit will go through the norma .selling process with a l:f~tterY held at ~he end of the two-week bid period. At the time of closing, the Owner will pay an additional 1% sales' fee, for a total of a 2% sales fee. SECTION 4 MAINTAINING ELIGIBILITY FOR OWNERSHIP OF AFFORDABLE HOUSING There is not a requalification requirement to meet Income, Asset and Minimum Occupancy for persons who have purchased and own an affordable housing unit. The individual must remain a qualified employee or retiree and continue to occupy the unit as their primary residence as defined in these Guidelines, and as they are amended from time to time. In the future, it may be a requirement for an owner to provide documentation of working in Pitkin County on a biannual basis. 2000 Aspen/Pitkin County Housing Guidelines Page 15 of 57 SECTION 5 PURCHASE ENFORCEMENT 1. All qualification items under Part Ill, Section 1, 1-5 shall apply to continue ownership. 2. Roommates are permitted under the Guidelines. All residents must be qualified through the Housing Office prior to occupancy. 3. The Housing Office may do random audits and investigate complaints or reports of non-compliance on an ongoing basis. SECTION 6 PRIORITIES FOR PERSONS BIDDING TO PURCHASE AN AFFORDABLE HOUSING UNIT The Housing Office operates a lottery for the sale of affordable housing properties. Priorities for the lottery bid process are as stated below. The qualified person(s) submitting the highest bid price, which does not exceed the maximum bid price, during the bid period shall have the first right to negotiate the 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: A. Persons with a present ownership interest Joint or Tenants In Common, in the affordable housing unit. B.' .Person(s) chosen bythe rema ning owner(~).to purchase the interest of anOther owner. ANY FRACTIONAL SALES MUST BE APPROVED BY 'SPEC1AL REVIEW IF NOT UNDER A COURT ORDER DUE TO DISSOLUTION PROCEDURES. C. Qualified spouses and/or children of current owners, including joint custody of the children, and/or qualified parent(s) meeting minimum occupancy. A transfer between siblings is not permitted. (Transfer within immediate family to a qua/if/ed buyer requires a S1 O0 fee, and must be approved by the Housing Off/ce pr/or to the transfer.) D. Persons living in and owning another unit within the complex who meet minimum occupancy'standards. A person must. have Owned his in-ComPlex unit ifor at east one year prior to receiving the inZcomplex' PriOrity. If t.here' are more than one in- complex bids meeting minimum occupancy~, a lottery will be held'bY giving the 1Minimum Occupancy (see DeHnltions) as used herein i$ one person (with an ownership Interes~ per bedroom, A m/nor child (2 ! years of age or younger) or dependent residing in the unit greater than I gO days out of any 12-month period shall be granted equal rights as a person with an o~/nership Interest. 2000 Aspen/Piti<in County Housing Guidelines Page 16 of 57 number of chances as stipulated below,. On an ,in-complex mo.ve, ~ unit must open up t01:bid to other' qualified persons b~fore receiving the in~c°rnplex:priority: For new' ": . ' ' ' ' ' projects, 'the n~comple.x· pr or,tins wil'l .e~pPiy only .after cOmp!eti0n of al! affordable housing' phases of th~ Pro. iect. 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 a minimum180 days out of any 12-month period. ;Z.With minimum occupancy Each household in the top priority will receive the following number of chances: Working in Pitkin County greater than 4 years, less than 8 years 5 chances Working in Pitkin County greater than 8 years, less than 12 years 6 chances Working in Pitkin County greater than 12 years, less than 16 years 7 chances Working in Pitkin County greater than 16 years, less than 20 years 8 chances Working in Pitkin County greater than 20 years 9 chances F. Persons with one to four consecutive years of employment in Pitkin County immediately prior to application for purchase (each individual will receive one chance in a separate lottery only if there is no one bidding who has been working in Pitkin County four years or more): 1. With minimum occupancy and one or more dependents for units with three or more bedrooms (dependents must reside in the unit greater than 180 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 (each individual will receive one chance in a separate lottery only if there is no one bidding who has been working in Pitkin County four years or more): ]. With minimum occupancy and one or more dependents for units with three or more bedrooms (dependents must reside in the unit greater than 180 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. 2000 Aspen/Pitkin County Housing Guidelines Page 17 of 57 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, 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. During this period, the owner and potential buyer shall endeavor to reach an agreement regarding said terms, including but not limited to the closing date and financing contingencies. If the owner and buyer have not reached an agreement at the end of the negotiation period, the next bidder's offer will then be presented to the owner for consideration. A new three-business day negotiating period will begin. 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 placed back on the market for new bids or withdrawn from sale. The owner shall be subject to the provisions of Part V, Section 3, paragraph 1, regarding sales fees. If a unit has been expanded to include another bedroom, minimum occupancy shall be based on the original bedroom count (e.g., for a 1-bedroom unit expanded to a 2- bedroom unit, a single person household would meet minimum occupancy, and the unit would be marketed as a one-bedroom unit). EXCEPTIONS TO PRIORITIES SUBJECT TO (SPECIAL REVIEW): Emergency workers (see Definitions and the Emergency priority under Part II, Section 8, Emergency Worker) meeting minimum occupancy may qualify for placement into the highest lottery category (except paragraphs A, B, C and D, of Part Ill, Section 6). The employee may compete with other applicants in that category (with a maximum of 5 chances) upon approval from the Public Safety Council. In order to receive the emergency worker priority, the emergency worker must have been in service to the community with that agency for a least one year. The worker will be required to be in service to the agency as a qualification of ownership until they have completed four years of service. If the worker leaves the emergency status position before that time, they will be required to list their unit for sale to a qualified employee. (The option for Special Review of circumstances for leaving is open to emergency workers.) 2000 Aspen/Pitkin County Housing Guidelines Page 18 of 57 2. First priority for handicapped accessible units shall be given to disabled persons prioritized by length of residency. 3. Persons 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. 2000 Aspen/Pitkin County Housing Guidelines Page 19 of 57 PART IV LOTTERY PROCESS Priority for purchasing via the Housing Lottery is given to those persons who have worked in Pitkin County a minimum of four consecutive years. An initial lottery is held for persons who have priority status. A subsequent lottery may be held if necessary. Any persons employed in Pitkin County and meeting the above criteria are eligible to part/c/pate in the Housing Lottery, however, demand for housing is so great that it is unlikely in the foreseeable future that a non-priority lottery wi//need to be held. 1. The lottery is held the Monday after the listing period has ended, unless otherwise specified. 2. All qualified households who have bid on that unit are entered into the lottery. 3. The names are printed out and verified prior to running the lottery to ensure that a household has not been excluded. The names are verified by the bid sheets and by the receipts provided to each bidder. This list is currently posted on the outside door of the Courthouse Plaza Building by 9:00 a.m., the day the lottery is held. 4. The lottery shall be run on the date specified in the advertisement. 5. Once the lottery has been run, the list is printed out and the names are, again, verified to ensure that all households were included in the lottery. If there is a problem, the problem is noted on the printout and explained as to why the lottery has to be rerun. The lottery is then rerun with the correction(s) made. 6. The file of the lottery winner is pulled and reviewed for completion. 7. Once the winner's information is verified, the winner is notified by the APCHA and an appointment is scheduled. 8. The lottery is then classified as "official" and the names posted on the bulletin board in the Housing Office. 9. If the winner of the lottery does not proceed to contract the Housing Office and sign the contract within three business days, the next in line is notified and so on, until the unit is under contract for purchase. NOTE: The APCHA has the right to disqualify a potential winner if the winner's qualification information cannot be verified, is incomplete, or inaccurate at the time of contract. 2000 Aspen/Pitkin County Housing Guidelines Page 20 of 57 PART V PROCEDURES FOR THE SALE OF A CA TEGORY AFFORDABLE HOUSING UNIT SECTION 1 LISTINC A .UNIT WITH THE HOUSING OFFICE 1. An owner of an affordable housing unit desiring to sell should consult with the Housing Office and review the Deed Restriction covering the unit to determine the maximum sales price permitted and other 'applicable provisions concerning a sale, 2. Unless otherwise provided in the Deed Restriction, the unit must be listed for sale with the Housing Office and the Housing Office staff will administer the sale in accordance with the Guidelines in effect at the time of'listing. 3. There shall be a minimum listing period of three months before a unit'S p~ice can be readjusted, Any termination in the listing may require the payment of administrative and adverti'sing costs. 4. The APCHA-acts as a Transaction Broker representing both Buyer and Seller. Questions will be answered and help provided to any potential purchaser or seller EQUALLY in accorclance with the current Guidelines; 5. The APCHA is res ponsible for preparing all documents pertaining to the sale and purchase of Category Units. 6. 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 purchasers or sellers own expense, 7, The fees paid to the Housing Office are to be paid regardless of any actions or services that the purchaser or. seller may undertake or acquire. 8. A seller in the process of purchasing a different unit may find it necessary'to secure additional financing should the property listed for sale.not close.prior to the closing date on the newly purchased property. 2000 Aspen/Pitkin County Housing Guidelines Page 21 of 57 SECTION 2 ADVERTISING THE SALE: BID PERIODS 1. After a unit is listed for sale with the Housing Office, the Housing Office, at its expense, arranges to advertise the unit for sale in the Wednesday daily papers. Upon listing, there is an initial two-week bid period during which the unit is advertised with two open house dates for showing. 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 Wednesday, until the unit is sold. 2. 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 Housing Office sales department. Sales staff are available to assist interested parties with the purchase procedure and to answer any questions about the process. , 3. If more than one bid is received during any bid period, bids are prioritized according to the Guidelines. If more than one bid is in top priority, a lottery is held. SECTION 3 FEES FOR LISTING AND SALES I. There are two fees involved in the listing and sale of a Deed Restricted Affordable Housing unit -- a Listing Fee and a Sales Fee. The Sales Fee is equal to two percent (2%) of the sale's price of the property, unless otherwise specified in the Deed Restriction. Also, unless otherwise specified in the Deed Restriction, the Housing Office will collect a half of the total fee (the Listing Fee) at the time of the listing. If a sale is completed by the Housing Office, the Listing Fee is considered part of the overall Sales Fee and will be applied to the total Sales Fee payable at closing. The Housing Office may instruct the title company to pay said fees to the Housing Office out of the funds held for the Seller at the closing. In the event that the Seller: a) fails to perform under the listing contract, b) rejects all offers at maximum price in cash or cash-equivalent terms, or c) withdraws the listing after advertising has commenced, that portion of the Listing 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 Housing Office shall be deducted from the fee. The balance will be credited to the Seller's sales fee when the property is sold. 2. Unless otherwise specified in the Deed Restriction covering the unit, a fee equally a quarter percent (¼%) of the total amount of the loan amount shall be charged by the Housing Office only when Fannie Mae-type financing provisions are used. Fannie Mae-type financing shall be at the sole discretion of the Housing Office. 2000 Aspen/Pitkin County Housing Guidelines Page 22 of 57 This fee shall be paid by the borrower (the buyer) and is based on the amount of the mortgage. The fee shall be paid for each mortgage transaction and shall be deposited in the Housing Office Mortgage Reserve Fund Account. If the fee was not paid on the initial purchase of the unit using the FNMA-type financing provisions (Fairway III, Twin Ridge, Williams Woods projects), the fee is then payable by the Owner at the time the unit is sold or refinanced. The buyer of said unit shall also pay the fee based on the amount of the mortgage as set forth above. If the fee has been paid on a unit and the unit is refinanced, the fee shall only apply to the amount of refinanced mortgage which is 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, provided that the Housing Office, City or County do not exercise the option to purchase the unit within a time specified at the time of foreclosure. The amount and adequacy of the fee and Mortgage Reserve Fund shall be reviewed annually as part of the Housing Guidelines review. SECTION 4 DEED RESTRICTION The purchaser must execute, in a form satisfactory to the Housing Office 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. This form is either a Memorandum of Acceptance that relates to a Master Deed Restriction, or an Occupancy and Resale Agreement. The form is provided for signature by the purchaser at the time of closing, and will be recorded along with the other documents that are required to be recorded. SECTION 5 CO-OWNERSHIP AND CO-SIGNATURE 1. Any co-ownership interest other than Joint Tenancy or Tenancy-In-Common must be approved by the Housing Office. 2. Co-signers (persons providing security or assuming partial responsibility for the loan) may be approved for ownership of the unit but shall not occupy the unit unless qualified by the Housing Office. 2000 Aspen/Pitkin County Housing Guidelines Page 23 of 57 SECTION 6 SALE OR RESALE OF RESIDENT OCCUPIED UNITS 1. The initial Sales Price of Resident Occu Units shall not exceed for a three- or four-bedroom unit. The shall include the cost of the lot and the construction of the unit. The developer has the option to request a Special Review to increase this maximum price. The developer must provide documentation that a higher price is needed to do the project or the project provides an exceptional community benefit. 2. If a vacant lot is purchased for development, an initial Certificate of Occupancy must be obtained within three years of the sale of the lot. 3. The Housing Office shall qualify prospective p.u. rchasers (unde.r Housing Office qualifications). Am/.resales of RO units Shall. be'l ~ted with the Housing Office and will be mai~keted through the same process as the category units, unless specified differently in 'that projects specific deed restriction. This will guarantee that the maximum sales price is being adhered to in all aspects of:.the housing program; The. Seller will be required to pay. a Listing Fee of 1%.ot' the total' sale's price n addition to the 1'% Sales Fee, for a total of 2% of the overall sale's price. Mobile home parks with no sales price limits are exemption from this section, except that at the:time of closing, a 1% fee of the sales price will be paid by the seller into the:housing prog ram. 4. The maximum resale price shall be calculated as follows (unless specified differently in a recorded deed restriction): · the initial sale price of the RO lot or unit, plus 3% or the Consumer Price Index (CPI) whichever is less, appreciation on that amount, subject to the requirements below; PLUS · the actual cost to construct a unit on a lot, plus 3% or CPI, whichever is less, appreciation on that amount from the time of Certificate of Occupancy (CO), subject to the requirements below; PLUS · any additional cost to expand the unit to the maximum 2,200 square feet, plus 3% or CPI, whichever is less, appreciation on that amount, from the time of CO for that addition, subject to the requirements section stated below; PLUS the actual cost of permitted capital improvements stated in an exhibit attached to the deed restriction, not to exceed ! 0% of the initial sales price of the completed unit, or the expanded unit. Existing mobile home park(s) converted to the RO category will not have an appreciation cap on the trailer and/or lot if the unit owners are qualified Pitkin County residents as defined by the Guidelines. The Housing Office shall retain the right of first refusal on any resale. 2000 Aspen/Pitkin County Housing Guidelines Page 24 of 57 SECTION 7 SALE OF SINGLE FAMILY LOTS The City or County 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. The property owner or developer 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. SECTION 8 LEAVE OF ABSENCE FOR OWNERS OF AFFORDABLE HOUSING UNITS An owner of an affordable housing unit must reside in their unit at least nine months out of the year and work at least 1500 hours per calendar year. There are instances in someone's life where they must leave Pitkin County for a limited period of time and desire to rent their unit during their absence. In those instances, a Leave of Absence may be granted by the Housing Office for one year. The homeowner must provide clear and convincing evidence, which shows a bona fide reason for leaving and a commitment to return to the Aspen/Pitkin area. Leave of Absence Request Procedure 1, A Leave of Abse/~ce Request form must be completed and returned to. the Housing Office at:least 30 days I~rior~ tolea¥ing. This~ form must be obtained from the HousingOffice. 2. Notice 'of such intent to. rent and the ability to comment shall be provided to any applicable homeowners' association at the time of request for their in put and recomm.endation: Terms and Conditions: 1. The leave of absence shall be for one year and may, at the discretion of the Housing Office, be extended for one more year. 2. The unit may be rented in accordance with Part II, Section S, du~'ing said one or twQ year period so long as the Deed 'RestriCt on covering, the' un t permits the rental..A summer Leave of Absence may .be granted and. units re'ntecl, un'der provisions of Part II, Section 5. 2000 Aspen/Pitkin County Housing Guidelines Page 25 of 57 3. 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). 4. Owner's cost as used herein includes the monthly mortgage principal and interest payment, condominium fees, utilities remaining in owner's name, taxes (if not part of the mortgage payment) and insurance prorated on a monthly basis, plus $20 per month. 5. Prior to the Housing Office'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. 6. A copy of the executed lease shall be furnished by the owner or tenant to the Housing Office and homeowners' association. 7. Should the homeowners' association recommend denial of the owner's request for a leave, the Housing Office will conduct a Special Review with the owner and homeowners' association representative(s) present. 8. A short-term rental may be permitted, with the consent of the Housing Office and the Homeowners' Association, to faculty or employees of a non-profit group and who shall be qualified without meeting income and assets only for a short-term rental (three months or less). SECTION 9 ROOMMATES IN SALES UNITS Owners' are allowed to have roommates, however, there are certain cond'tions that must be followed when renting a room. Terms and Conditions: Roommates are permitted as tong as tl'ie individual is a qualified employee, or fails under the non-profit group requirement. 2. A roommate must be given a lease. 3 Copies of all leases must be filed with the Housing Office. 2000 Aspen/Pitkin County Housing Guidelines Page 26 of 57 4. The maximum rental rate for the room shall not exceed the maximum'rental rate permitted under section 8 above for said unit plo rated on a per:bedroom basis. One roommate in a two-bedroom unit Shall pay a maximum rent of one-~half (1/2) Of the costs; one roommate in a'three-bedroom h0usehold shall pay a maximum rent of one-third (1/3) of the total costs. 5. An owner may rent a unit or room to a qualified employee if it.is permissible under the Deed F~estriction and or covenants of the Homeowner's Association covering the unit: The owner must continue to reside in the unit as a so{e and exclusive place of residence. The em pl0yee must meet the income guidelines .for the specific unit, and all other aspects.of being a qualified employee,.unless .the roommate i's employed by.a non-profit orqanization.. 6. The owner shall be deemed to have ceased to use the unit as his Or 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 (1 2) months. 2000 Aspen/Pitkin County Housing Guidelines Page 27 of 57 PART V/ SPEC/AL REVlEVV A Special I~eview for a variance from the strict application of these Guidelines may be requested if an unusual hardship can be shown, and the variance from the strict application of the Guidelines is consistent with the Housing Program intent and policy. In order to request a Special Review, a letter must be submitted to the Aspen/Pitkin County Housing Authority stating the request, with documentation regarding the unusual hardship. The applicant shall submit any additional information reasonably requested by APCHA and a Special Review meeting will be scheduled in a timely manner. The Special Review Committee may grant the request, with or without conditions, if the approval will not cause a substantial detriment to the public good and without substantially impairing the intent and purpose of the Guidelines, and if an unusual hardship is shown. 2000 Aspen/Pitkin County Housing Guidelines Page 28 of 57 PART VII INFORMA T/ON FOR DEVELOPMENT OF AFFORDABLE HOUSING Private sector development is critical in order to meet our affordable housing goals. The Housing Office Operations Manager will track affordable housing zone projects through the Planning and Building Permit process in order to aid in communication 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. Part VII of the Guidelines contains information to be used by developers of affordable housing units in the City of Aspen and Pitkin County. This section applies to development applications for free-market development, residential subdivisions, under the Multifamily Housing Replacement Program, Title 20, of the City of Aspen Municipal Code, and in calculating the dedication fee (payment-in-lieu fee) for exempt single- family home and exempt duplex units, and for calculating mitigation requirements as stipulated under the growth management quota system. Units developed by a private developer under the Affordable Housing Zone District will have the option to choose a qualified employee(s) for one-third of the units for each type of unit being developed. The one-third chosen by the developer must meet the minimum occupancy requirementst All other units will be placed in the general housing lottery. SECTION 1 PRIORITIES FOR AFFORDABLE HOUSING UNITS The Housing Board establishes the following equal priority unit types based on current needs: · Entry level sales units (studio and 1 -bedroom Categories 1, 2 and lower priced Cate~ 3 Family-oriented sales units (Categories 3 and 4) The Housing Board has established the following options, in order of preference depending on the site location, available to obtain credit for providing deed-restricted affordable housing units under the City's or County's Growth Management Quota System (mitigation units): 1. On-Site Housing - Affordable housing units located either on the same site as or attached to the proposed development. 2000 Aspen/Pitkin County Housing Guidelines Page 29 of 57 2. Off-Site Housing - Affordable housing units located within the City of Aspen or the Aspen Metro Area, as defined by the Aspen Area Community Plan and approved by the APCHA. 3. Cash-in-Lieu or Land-in-Lieu - Payment of an affordable housing dedication fee or a donation of land. The preference of cash or land shall be determined on a case-by-case basis. SECTION 2 AFFORDABLE HOUSING UNITS REQUIRED FOR MITIGATION The following provisions shall apply to all affordable housing units required .as' mitigation for residential or commercial development. Att such affordable housing units' must meet the size, type, income and occupancy requirements as contained in these Guidelines. AppliCants are encouraged to schedule a.pre-application conference with the Aspen/Pitkin County Housing Authority staff to obtain guidance regarding the application of these Guidelines to. specific development projects. The following applies to, and credit shall be given for, only Category 1,2, 3, 4 and Resident Occupied housing as defined in these Guidelines, as amended from time to'time. 1. Mitigation. Credit:' Credit under the Growth Management Quota.system may be obtained by any' of the following methods or combination thereof: a. Production of new dwelling units deed restricted ~n perpetuity to rental and sale price terms as defined in these guidelines. b. Conversion of existing dwelling units to deed restricted status by recording a deed restriction in perpetuity upon.those units restricting them to the rental and sale price terms, qualification and occupancy requirements of these guidelines (such units may not already be deed restricted by APCHA guidelines); c. Payment or Land-in-Lieu may be accepted on a case-by-case basis. Payment shall be made to. the City of .Aspen 'for projects in the City, or Pitkin CounW, for projects in the County. Such payment shall be made prior, to and on a proportional basis 'to the ~ssuance of ariy building permits for the non-deed restricted dwelling units of the proposed development. Applicants may chOOse to. prepay the affordable housit~g dedication fee prior to issuance of any building permits for the project and receive a discount on the fee, based on the .present value index .included within these Guidelines; Approval of the present value discount shall, be at the option of the APCHA and the City Council or Board of County Commissioners depending on the location of the project. 2000 Aspen/Pitkin County Housing Guidelines Page 30 of 57 d, Should a proposed development cause the displacement of housing units that are currently deed restricted to employee, housing guidelines, then the applicant shall only receive.credit for' housing for the next number of em ployees to be housed by the pro posed development, reflecting the number to be housed in the new units minus those housed in the existing units, rather than for housing the gross number of employees housed in the new units. e. The deed restrictions created to obtain credit for affordable housing may be amended by agreement between the property owner and the City Council u pon the. recommendation of the Growth Management Commission. 2. Unit Location: Affordable'housing units must meet the "Acceptance of Affordable Housing Units" policies set forth in the Housing Board 'Policy Statements, 3. Unit Size: Affordable housir~g units must meet the minimum Size requirements set.forth in Part Vii, Section 8. Reductions in the minimum square footage shall be al'lowed based on the criteria specified, 4. Unit Price: Rental or sales prices shall be no greater than allowable.under these Guidelines' (Tables I1[ and IV). Should a unit be proposed that is larger than the mimmum sizes set forth in these Guidelines, the rental or sales price shall be no greater than the prices specified, 5. 3u¥-Down of Existinq Units: If.the affordable units are proposed to be provided off-site through the deed restriction of existing units, the applicant shall be required to document the feasibility of this off-site location by demonstrating that they have an interest in' the property or dwelling units and by specifying the size and type of units to be provided and any physical upgrade to be accomplished. Mitigation Requirements for Lodge Developments: Lodge developments shall not be restricted to hous:ing employees of their own business, but shall also be required to house qualified.employees of the community at large, it should be antici pared that the housing units proposed will be required to be restricted to Category 2 :price and occupancy guide[iRes unless the housing unit is restricted to use by an owner or manager, The category requirement is subject to review of the Aspen/Pitkin County Housing Authority based on current community housing needs and wage rates. 2000 Aspen/Pitkin County Housing Guidelines Page 31 of 57 SECTION 3 REQUIREMENTS FOR AFFORDABLE HOUSING UNITS IN RESIDENTIAL SUBDIVISIONS A. At least :60% of the bedrooms in any resident!al subdiv!~ionapproved under the (:ity of ASpen's growth management regulatiOr~s Shall be in' units restricted as affordable housing.,The average rent Or sale price of the affordab!e h0using, units shall not exceed'the:Category' 2 maximum amounts set;f0rth in these Guidelines, and as .they are .amended fromtime to time. B. All units provided under this Section must meet one or more of the priorities stated above in Section 1. C. These requirements are not subject to any type of variance by Special Review. D. No Resident Occupied (RO) units are permitted in the affordable housing component. SECTION 4 REQUIREMENTS FOR AFFORDABLE HOUSING UNITS UNDER THE MULTI-FAMILY HOUSING REPLACEMENT PROGRAM A. The average price of affordable housing units required under Title 20 of the City of Aspen Municipal Code, Multifamily Housing Replacement Program, shall not exceed Category 2 maximum rental or sales prices as set forth in these Guidelines, and as they are amended from time to time. B. All units provided under this Section must meet one or more of the priorities stated above in Section 1. C. These requirements are not subject to any type of variance by Special Review. D. No Resident Occupied (RO) units are permitted in the affordable housing component. SECTION 5 REQUIREMENTS FOR THE AFFORDABLE HOUSING ZONE DISTRICT The following requirements apply to affordable housing units in any Affordable Housing Zone District project that includes free market units. A. For affordable housing developments, the developer shall provide at least a 70% affordable housing/30% free market comPOnent. In the aff0rdable housing mix at least 40% of the Units must be category Units :with an average price not to · exceed the maximum:price of Category 3. A mix of categorieS is preferred. 2000 Aspen/Pitkin County Housing Guidelines Page 32 of 57 Thirty-.percent (30%) of the affordable housing units may be classified as Resident Occu pied. However, only 30% of a project's bedrooms may be located within free market units'. Category housing and Resident Occupied units must comprise 70% of the bedroom mix. Projects may be comprised .of al) catego'ry deed restricted or resident occul~ied uni.ts, in the event that no free market development is proposed as part' of the project, the limitation.on Resident Occupied units and bedroom mix shall not apply. in order to be eligible'for a reduction in. the requirement to the level of 60% Affordable Housing and 40% Free Market Housing, the project shall be required tO demonstrate'to the satisfaction of the City Council that all of the following criteria have been met: · The quality of the proposed development substantially exceeds that established in the minimum threshold for the scoring established in the GMQS Scoring section of the City of Aspen Municipal Code; · The proposal maximizes affordability, consistent with housing needs established as priority through these Guidelines; · The proposal integrates a mixture of economic levels and housing for a variety of lifestyles (e.g., Singles, seniors and families); · The proposal minimizes.impacts on infrastructure'by incorporating innovative, energy-saving site design; structural design characteristics' or other techniques tl~at minimize the use of water; heating and sewage disposal; · The proposal incorporates or integrates with an existing local based 'economy (i.e., sustainable local businesses); · The proposal .accomplishes a level Of design and site plan ingenuity that advances the community goals expressed in the Aspen Area Community Plan; · The. proposed project represents an exceptional commitment to advancing the vismons, :goals'and specific actions items: of the Aspen .Area Community Plan, particularly those addressed in the scoring criteria under'the Growth Management Quota System as stated in the. City of'Aspen Municipal Code; and · No RO units are included in the project; only category units are included in the project. B. in any mixed project that contains an affordable housing and a free market component, as a condition of condominiumization or subdivision rights, voting rights and fees will need to be determined and agreed to by the APCHA. The Declaration. of Covenants must require one vote per unit,, and handling of the homeowners' association dues and the types of impr~ovements..the affordable housing component' will be.responsible to pay. Homeowners' dues can be based on a sliding scale based On the square footage of the unit, the' number, of bedrooms, the cost. of the home~ or one fee across the board. This will be decided upon at the time of final approval for the development and incorporated into the. Declaration of Covenants. C. All units provided under this Section must meet one or more of the priorities stated above in Section 1. 2000 Asoen/Pitkin County Housing Guidelines Page 33 of 57 SECTION 6 DEDICATION FEE FOR EXEMPT SINGLE-FAMILY HOME AND DUPLEX UNITS See Part VII, Section 12, Affordable Housing Dedication Fee (Payment-in-Lieu Fee) under these Guidelines. SECTION 7 RESIDENT OCCUPIED UNITS This category was created to offer the private sector an incentive to produce affordable housing for the community. RO units shall be occupied by persons and families who qualify as stated below. RO units shall also be subject to their own deed restrictions recorded prior to the establishment of the RO Guidelines and are subject to their individual deed restrictions. This includes, but is not limited to, Smuggler Mobile Home Park, Aspen Village, and the AABC Rowhouses. Williams Ranch contains 10 "Category 5" units, which limits grow income to ST 59,457 and net assets to $400,000. RO units shall meet the following criteria: A. Gross income and net assets shall not exceed an amount that permits a household to qualify for a $600,000 purchase under the following assumptions: 1. if all net assets to be counted as a down payment 2. if 28% of gross income is available to finance the remainder of the purchase price at an 8% interest rate amortized over 30 years. B. Initial Sales Price shall not exceed ~ii for a three- or four-bedroom unit. The ~(~ shall include the cost of the lot and the construction of the unit. The developer has the option to request a Special Review to increase this maximum by providing documentation that a higher price is needed to do the project or the project provides an exceptional community benefit. An initial CO must be obtained within three years of the sale of the lot. C. Maximum Resale Price/Appreciation - The maximum resale price shall be calculated as follows: · The initial sale price of the RO lot or unit, plus 3% or CPI, whichever is less, appreciation on that amount, subject to the requirements below; PLUS · The actual cost to construct a unit or lot, plus 3% or CPI, whichever is less, appreciation on that amount from the time of Certificate of Occupancy (CO), subject to the requirements below; PLUS 2000 Aspen/Pitkin County Housing Guidelines Page 34 of 57 · Any additional cost to expand the unit to the maximum 2,200 square feet, plus 3% or CPI, whichever is less, appreciation on that amount, from the time of CO for that addition, subject to the requirements section stated below; PLUS · The actual cost of permitted capital improvements stated in an exhibit attached to the deed restriction, not to exceed 10% of the initial sales price of the completed unit, or the expanded unit. For any existing mobile home park converted to the RO category, where the unit owners are qualified Pitkin County residents as defined by the Guidelines, there will be no appreciation cap on the trailer and/or lot and the Housing Office shall have the right of first refusal on any resale. O. Unit Size: A maximum of 2,200 gross square feet. In addition, a maximum 500 square foot garage and a maximum 800 square foot basement are permitted. If a larger garage or basement is constructed, then all square footage over 500 or 800 square feet, respectively, will be considered as a part of the 2,200 square feet of space allowed. E. Employment Requirement: Applicants must demonstrate that they are qualified employees and that they have four years of consecutive full-time employment, as defined by the Guidelines, in Pitkin County immediately prior to application. Individuals who are retired are required to demonstrate that they were qualifed employees based upon the definition in these Guidelines for five consecutive years immediately prior to retirement. F. Primary Residence: A RO unit must be the owner's primary residence. Proof of residency, including, but not limited to, voter registration, automobile registration, shall be required. G. Income/Earninqs: Applicants must demonstrate that their income/earnings are earned primarily in Pitkin County (75%). Applicants must demonstrate that they pay Colorado income Tax as a Colorado resident. H. The owner cannot own any other developed property in those portions of Eagle, Garfield, Gunnison, or Pitkin Counties which are part of the Roaring Fork River drainage, or must list for sale, at competitive prices, the residential real estate or mobile home prior to or simultaneously with closing on the RO unit. I. Sales and Marketinq: The APCHA shall market all RO units the same as the · category units, unless specifically Specified.in the respective deed restriction. See Part. V, Section 6. : 2000 Aspen/Pitkin County Housing Guidelines Page 35 of 57 SECTION 8 NET MINIMUM LIVABLE SQUARE FOOTAGE FOR NEWLY DEED RESTRICTED AFFORDABLE HOUSING UNITS Table II sets forth the allowable Minimum Net Livable 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. PLEASE NOTE: Subject to approval by the Housing Off/ce, the minimum net livable square foot requirements may be reduced. It must be demonstrated that the development satisfies, or is required to adjust to other physical factors or considerations including, but not h'm/ted to, design for Iivabtlity, common storage, other amen/ties, location or site designs. TABLE II MINIMUM NET LIVABLE SQUARE FEET FOR EACH UNIT TYPE AND INCOME CATEGORY Categories I & 2 Cateqories 3 & 4 Unit Type . Square Feet Square Feet Studio 400 500 1 Bedroom 600 700 2 Bedroom 850 950 3 Bedroom 1,000 1,200 Single-Family Detached 1,100 1,400 Net Livable Square Footage (see Definitions) calculations are required for the affordable housing component of a project. The Community Development Department prior to issuance of any building permits for either the free market or affordable housing component of the project must verify square footage. The Community Development Department shall retain a set of approved building permit drawings for the project. The Community Development Department or Housing Office may check the actual construction of the affordable housing units for compliance with the approved building permit plans. The conditions under which reductions, may be made are stated below. However, no reduction greater:than 20%' of the category minimum will be allowed. · Significant storage- additional storage outside the unit; · Above average, natural light - more windows than the Code requires; · Efficient and flexible layout - limit to space used for halls and staircases; · Site amenities - p0ol, near to park or open space, etc.; · Location'within the project - above ground versus ground level or below ground; 2000 Aspen/Pitkin County Housing Guidelines Page 36 of 57 · If the applicant can achieve higher dens.it¥ of.deed restricted, unts with this variance. , Square footage adjustments will be subject to APCHA approval. A written analysis and recommendation will be completed during the Development Review Committee referral. Staff comments will be used in developing the project's approval ordinance. Applicants will be allowed to appeal decisions to the Housing Board, followed by City Council or the BOCC. SECTION g MAXIMUM SALES PRICES FOR NEWLY DEED RESTRICTED AFFORDABLE LOTS AND HOUSING UNITS Table III sets forth the maximum sales price for newly deed restricted affordable housing units and affordable lots to the initial purchaser. The maximum resale price of a unit shall be controlled by the Deed Restriction covering the unit executed by the initial purchaser upon closing of the initial purchase. TABLE III - MAXIMUM UNIT SALES PRICES Unit. Type Cateqory 1~ Category 2 Cateqory 3 Category 4 Studio $30,300 $68,800 $114,000 $193,100 1 Bedroom $38,000 $81,700 $125,900 $203,900 2 Bedroom $45,700 $93,500 $137;700 $216,800 3 Bedroom $52,900 $104,300 $149,000 $228,600 Single-Family Detached $64,700 $120,700 $164,400 $236,300 Single-Family Lot ($70,900) ($21,600) $ 1. $29,500 NOTES: 1. Single-family lots shall be developed with homes of three bedrooms or larger and shall be prioritized for lottery as set forth in Part II, Section 5 herein. 2. Category 2 single-family lots will require a $21,200 subsidy payment by the developer in addition to the conveyance of the lot. Category ] single-family lots will require a $69,700 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 Housing Office to all qualified persons under the procedures established by the Guidelines. 4. Persons employed by an owner/operator shall be given first priority to purchase affordable housing units associated with a lodge, agricultural operation, or commercial development, when ownership has been retained by the owner/ 2000 Aspen/Pitkin County Housing Guidelines Page 37 of 57 operator of the development. Employees must meet the Housing Office's Guidelines for occupancy, income and assets criteria in order to qualify to occupy the unit(s). In the event there are no persons directly employed by the owner who qualify, the unit shall then be offered to other qualified persons according to the Guidelines. (Affordable Housing [AH] Zone development is exempt from this section.) All resales will go into the general lottery and be sold by the APCHA per the deed restriction. 5. Newly deed restricted affordable housing sales units must be in marketable condition. Properties must comply with the Uniform Building Code and 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 APCHA. Cost of such inspections shall be the responsibility of the applicant. The APCHA must approve the results of the inspection. SECTION 10 MAXIMUM MONTHLY RENTAL RATES FOR NEWLY DEED RESTRICTED AFFORDABLE HOUSING UNITS Table IV sets forth the maximum monthly rental rates for newly deed restricted affordable 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. Thereafter, the maximum monthly rental rate may be increased only to the extent that the Guidelines then in effect permit. TABLE IV MAXIMUM MONTHLY RENT Unit Type Category ] Category 2 Category3 Category. 4 Studio $36'4 .$645 $964 $'1,517 1. Bedroom 44Z 758 1,076 1,641 2 Bedroom 531 870 1,189 1,754 3 Bedroom 616 985 1.,304 1 ;868 Single-Family Detached 701 1,098 1,415 1,924 NOTES: 1. Units constructed prior to the effective date of these Guidelines shall charge rents that do not exceed those set forth in Part VIII, Table VII. 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 2000 Aspen/Pitkin County Housing Guidelines Page 38 of 57 event that utilities are commonly metered, a charge to the tenant may be made in addition to the maximum rents in Table 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, the Housing Office must qualify the tenant. All verification required under these Guidelines must be provided. The tenant must provide the owner/landlord with proof of verification and qualification by the Housing Office prior to occupancy. The owner shall be required to provide a copy of the lease agreement to the Housing Office for approval. The Housing Office will approve or deny the agreement within five working days. Leases shall meet occupancy standards and allowable rental rates, and shall be for a minimum term of six consecutive months. Tenant shall provide an executed copy of the lease to the Housing Office prior to occupancy. 5. Persons employed by an owner/operator shall be given first priority to rent affordable housing units associated with a lodge, agricultural operation, or commercial development, when ownership has been retained by the owner/operator of the development. Employees must meet the Housing Office's Guidelines for occupancy, income and assets criteria in order to qualify to occupy the unit(s). In the event there are no persons directly employed by the owner who qualify, the unit shall then be offered to other qualified persons according to the Guidelines. (Affordable Housing [AH] Zone development is exempt from this section.) 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. SECTION 1 1 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 dormitory/lodge units designed for occupancy by seasonal employees. Acceptance of such dormitory/ lodge units shall be at the sole discretion of the respective governing body at the recommendation of the Housing Office. The dormitory/lodge units must satisfy all requirements of the applicable Guidelines and shall be required to meet the following minimum standards: 2000 Aspen/Pitkin County Housing Guidelines Page 39 of 57 A. Occupancy of a dormitory unit shall be limited to no more than eight persons. B. There shall be 150 or greater net livable square feet of living area per person, including sleeping and bathroom. For purposes of this requirement, Net Livable square footage shall not include interior or exterior hallways, parking, patios, decks, cooking, lounge used in common, laundry rooms, mechanical areas, and storage. Rents for dormitory/lodge units and units developed for seasonal occupancy only pursuant to a plan approved by the Housing Office shall be calculated on the net livable square footage as described above and computed at the rates set forth on a case-by-case basis. C. Notes 3, 4, 5 and 6 under Table IV, Part Vii, Section !0, apply to Dormitory/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 lavatory, one bathtub with a shower, and a total area of at least 60 net livable square feet. E. A kitchen facility or access to a common kitchen or common eating facility shall be provided subject to the Housing Office'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 leasable square feet per person of enclosed storage area located within, or adjacent to, the unit. G. A manager's or assistant manager's rent shall be calculated based on the income category of the respective manager. H. Rents for dormitory units will be set by Special Review on a case-by-base basis, given the unique and varying characteristics of dormitory units, with affordability as the key issue. SECTION 12 AFFORDABEE HOUSING DEDICATION FEE (Payment-ln-Li'eu 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 ~'equirement.by payment of an affordable housing dedication fee' (paYment-in-lieu fee). 'l:he number of employees (affordable housing residents) required t(] be housed is determined by the Employee Generation schedules contained in the applicable City and .County Codes, or 2000 Aspen/Pitkin County Housing Guidelines Page 40 of 57 included herein, The time of payment of the fee is prior to the issuance of a building permit. Acceptance of the payment-in-lieu fee shatl be at the sole discretion Of the respective governing body at the recommendation, of the Housing' Office. 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 Community Development Director as verification of payment, with a copy of the receipt supplied by the developer to the APCHA prior to issuance of a building permit. C. Payment-in-Lieu formula: The formula for payment-in-lieu shall equal: Number of Employees Generated X $104,757.89 D. Payment~in-Lieu Rationale: The payment-in-lieu fee is calculated by multiplying the per bedroom subsidy of three recent APCHA projects, adjusted for CPI. The rational for each is outlined below: 1. The average 'subsidy cost per bedroom is $104,757.89. This figurels based on the.average cost for the APCHA to produce three recent projects a.s shown below: Benedict Juan Street Commons Snyder Year I ~: Sold 1995 1996 2000 Number o~.Units 6 27 15 Number of Bedrooms 1 7 27 27 Total Livable Sq, Ft. 8,004 s,f, 16, $00 s:f. 17,682 s.f. Land Cost $575,000 $1,100,000 $1,300,000 Development Cost $1,510,371 $3,632,000 $4,307,275 Total Cost $2,298,12! $5,132,000 $5,607,275. Revenues . $1,055,000 $2,472,500 $2,342,494 Subsidy $1 ~243,;121 $2,659,500 $3,.264.,781 Subsidy/Bedroom $73~125 $98,500 $120,918 AdjuSted for CPI $82,187 $109,500 $122,586 2. The :number of employees generated will be dictated by the applicable. City and County codes or'herein. The CiW and County Codes will prevail, in a:ny conflict between the Guidelines and the Codes. 2000 Aspen/Pitkin County Housing Guidelines Page 41 of 57 Employee Generation Table zone D/strict or Use Employees Generated Commercial Core (CC) and 3;50 to Commercial (C-l) ft, ('nl), based on review:of City Council's designee Neighborhood Commercial (NC)& 2.30 empl0yees/I,O00 sq. ft. (hi) Service/Commercial/Industrial (S/C/I) Office (O) 3.00 employees/1,000 sq. ft. (nl) Commercial Lodge and Other 3.50 employees./1,000 sq. ft, (hi) E. Deferral of the Affordable Housinq Impact Fee: If the owner of a single-family .or duplex unit for'which an afforda:ble housing impact fee is due is a qualified working resident, as that term is defined in the Guidelines, the obligation.to pay the impact fee may be deferred, at the owner'S request, until such time as the dwelling unit is sold to a buyer who is not a qualified working resident. Furthermore, the amount of the impact fee which 'was deferred shall be recalculated at the time of sale based on'the Guidelines m effect'at' the time of sale. The obligation for the fee and the Procedures for calculating the fee, shall ,be set forth, in a written document, si,gned by the owner or owners of the subject dwelling unit, approved by an APCHA representative and the Community Development Department Director, and recorded in the records of the Pitkin County Clerk and Recorder prior to the issuance of a Certificate of Occupancy. F. For the purposes of calculating payment-in-lieu fee, the following occupancy standards shall apply: TABLE V OCCUPANCY STANDARDS BY UNIT TYPE UNiT TYPE OCCUPANCY Dormitory/Lodge 1.00 employee/150 sq. ft. Studio ~ .25 employees One Bedroom ~ ,75 employees Two Bedrooms 2,25 employees Three Bedrooms 3.00 employees For each bedroom in excess of three, the occupancy standard increases by .5 employees. 2000 Aspen/Pitkin County Housing Guidelines Page 42 of 57 G. The fee' required for the construction of an exempt single-family home or duplex unit shall be calculated as follows: For every 9,000 square feet of new FAR, the applicant w/// be required to m/t/gate for one employee ,at' $ t04, 757,.~9. Proportional mitigation 'will be allowed. For example, 2,000 square feet of additional FAR would require a mitigation fee of $104,757.89 X .67 ~ $70,t87.79 for the new structure. The .67. relates to 2,000 + .3,000, SECTION 13 CONVEYANCE OF VACANT 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 Housing Office. 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 shall be conveyed to the Housing Office concurrent with recordation of final plat for the project. C. At the time of conveyance, the developer shall establish 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 A above. Improvements as noted in Item A above, shall be completed within one year from the date of conveyance of the property to the Housing Office. D. The Subdivision Improvements Agreement and the Protective Covenants shall incorporate the conditions stated in A, B and C, directly above this paragraph. 2000 Aspen/Pitkin County Housing Guidelines Page 43 of 57 SECTION 14 DEED RESTRICTING EXISTING DWELLING UNITS A. 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 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 APCHA. 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 APCHA): 1. The interior walls of all units must be freshly painted. 2. The interior Appliances must be purchased within the last five years and be in good and working condition. 3. Carpet must be less than five year old and be in good condition and repair, or be replaced. 4. The exterior walls shall be freshly painted within one year of dedication. 5. A general level of upgrade to yards and landscaping shall be provided. 6. Windows, heating, plumbing, electrical systems, fixtures and equipment shall be in good and working order. 7. The roof must have a remaining useful life of at least ten (! 0) years. 8. All units shall meet Uniform Building Code minimum standards, any applicable housing code or, in the absence of an adequate code, the housing code acceptable to the APCHA. 9. All units shall be approved by the APCHA and verified by a qualified Building Inspector accepted and approved by the APCHA. 10. Applicant shall bear the costs and expenses of any required upgrades to meet the above standards as well as any structural/engineering reports required by the APCHA to assess the suitability for occupancy and compliance with the APCHA standards of the proposed units. 2000 Aspen/Plain County Housing Guidetines Page 44 of 57 SECTION 15 EXECUTION OF DEED RESTRICTIONS BY APPLICANTS Deed Restrictions must be submitted by the applicant to the APCHA according to the following time schedule: A. Conditional Use Applications - Prior to issuance of any building permit for a project, the APCHA shall have an approved, executed and recorded Deed Restriction for the required commitment by the applicant. B. Growth Management Plan Applications - Prior to issuance of any building permit for a project, the APCHA shall have an approved, executed and recorded Deed Restriction for the required commitment by the applicant. A copy of the recorded Land Use Code and Resolution and Deed Restriction shall be sent to the APCHA. Prior to issuance of any Certificate of Occupancy, the Deed Restriction shall be amended, if necessary. The amendment shall reflect changes approved by the APCHA and governing bodies that may have occurred during construction or conversion of the unit(s), (i.e., net livable square footage). The amendment will then be executed and recorded, with the original returned to the APCHA. C. Others - Prior to issuance of any building permit for a project, the APCHA 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 APCHA. Prior to issuance of any Certificate of Occupancy, the Deed Restriction shall be amended, if necessary. The amendment shall reflect changes approved by the Housing Office that may have occurred during construction or conversion of the unit(s) (i.e., net livable square footage). The amendment will then be executed and recorded, with the original returned to the APCHA for their files. SECTION 16 MAXIMUM VACANCY Deed restricted rental units are required to be occupied. They may be vacant between tenancies for a maximum period of forty-five (45) days, unless authorized by the APCHA. If the owner exceeds the forty-five day limit without APCHA approval, then the APCHA will place a qualified employee from existing wait lists with a minimum six (6) month lease. 2000 Aspen/Pitkin County Housing Guidelines Page 45 of 57 PA R T Il/Il MAXIMUM ANNUAL RENT INCREASE FOR EX/ST/NC PEEP RESTRICTED RENTAL UNITS The maximum monthly rent for an existing affordable housing unit is calculated using the maximum monthly rent permitted under the Guidelines in effect at the time the unit was first occupied. The rent is increased each year by the maximum percentage permitted by the Guidelines. Maximum rent increases allowed for existing units are as follows: TABLE VII PERMI~fED INCREASE IN MAXIMUM RENT FOR EXISTING AFFORDABLE HOUSING UNITS Year Increase Year Increase Year Increase 1978-1982 0.0% 1990 3.0% ~996 .99% 1983 6.6% 199~ 0.0% ]997 1.31% 1984 5.0% 1992 2.0% 1998 .73% 1985 3.3% 1993 1.2% 1999 .54% 1986-1988 0.0% 1994 1.0% 1989 4.7% 1995 1.]% The proposed ] ,08% increase is based.on the. percentage change in the Consumer PriCe Index (Urban Wage Earners), November 1'998- November t 999. The index increased at the rate o~ 2.7% during this period. Operating Costs for renta housing wh.ch are subject to: the CPi increase, are assumed tO'be 40% of rental income. The proposed'rental increase of] .08% is 40%of the CPi increase, which tis sufficient to Cover any increase'in operating costs. Please contact the APCHA for the actual maximum rental rates available and the APCHA will assist any applicant in determining their maximum permitted rent. 2000 Aspen/Pitkin County Housing Guidelines Page 46 of 57 PART IX. GRIEVANCE PROCEDURES A grievance is any dispute that a tenant or purchaser (see Definitions) may have with the Housing Office with respect to action or failure to act in accordance with the individual tenant's or purchaser's rights, duties, welfare or status. A grievance may be presented to the Housing Office Board of Directors under the following procedures. I. FILING A GRIEVANCE II. CONDUCT OF THE HEARING A. Any grievance must be A. If the complainant fails to presented in writing to the Housing appear at the scheduled hearing, the Office. It may be simply stated, but shall Board may make a determination to specify: ~) the particular ground(s) upon postpone the hearing o_~r make a which it is based; 2) the action determination based upon the written requested; and 3) the name, address, documentation and the evidence telephone number of the complainant submitted. and similar information about his/her representative, if any. B. The hearing shall be conducted by the Board as follows: Oral or B. Upon presentation of a written documentary evidence may be received grievance, a hearing before the Housing without strict compliance with the rules Office Board of Directors shall be of evidence applicable to judicial scheduled for the next scheduled Board proceedings. meeting. The matter may be continued at the discretion of the Board. The C. The right to cross-examine complainant shall be afforded a fair shall be at the discretion of the Board hearing providing the basic safeguard of and may be regulated by the Board as it due process, including notice and an deems necessary f or a fair hearing. opportunity to be heard in a timely, reasonable manner. D. Based on the records of proceedings, the Board will provide a C. The complainant and the written decision and include therein the Housing Office shall have the reasons for its determination. The opportunity to examine and, before the decision of the Board shall be binding on hearing at the expense of the the Housing Office which shall take all complainant, to copy all documents, actions necessary to carry out the records and regulations of the Housing decision. Office that are relevant to the hearing. Any document not made available after written request may not be relied upon at the hearing. D. The complainant has the right to be represented by counsel. 2000 Aspen/Piti<in County Housing GuideJines Page 47 of 57 ?AR T X DEFINITIONS Accessory Dwellinq Unit - The unit must Capital Improvements - Unless be a totally private unit, with a private otherwise defined in the Deed entrance, a full bath and a kitchen as Restriction covering the affordable defined in these Guidelines. Also see housing unit, any fixture erected as a Aspen Land Use Code, Chapter 26.520. permanent improvement to real property excluding repair, replacement, and Affordable Housing Dwelling units maintenance costs. restricted to the housing size and type for individuals meeting asset, income Caretaker Dwellinq Units - The unit and minimum occupancy guidelines must be a totally private unit, with a approved by the Aspen City Council, private entrance, a full bath and a Board of County Commissioners and/or kitchen as defined in these Guidelines. the Housing Office, whichever shall Also see the County Land Use Code, apply. Section 3-150-130. Affordable Housinq Zone District - See Category - Income limits, sales prices Aspen Land Use Code, Chapter or maximum rental rates as determined 26.28.110. by the APCHA according to household income and net assets. Aspen/Pitkin County Housing Authority - APCHA and/or Housing Office. Consumer Price Index (CPI) - The Consumer Price Index that is used for Assets Anything owned by an purposes of the Guidelines and for individual which has commercial or purposes of the Deed Restriction is the exchange value. Assets consist of Consumer Pr/ce Index - U.S. City specific property or claims against Average and /?egions, Urban Wage others, in contrast to obligations due Earners and C/er/ca/ Workers (CPI-W), others. See also definition for Gross All /terns. Updated information is Assets and Net Assets. received on a monthly basis from the U.S. Department of Labor, Bureau of Basement - As defined by the applicable Labor Statistics. City or County Land Use Code. Co-signer - A joint signatory of a Bedroom - Designed to be used for promissory note who shall not occupy sleeping purposes which may contain the unit unless qualified bythe APCHA. closets, may have access to a bathroom and which meets applicable City or Deed Restriction - A contract entered County Uniform Building Code into between the APCHA and the owner requirements for light, ventilation, or purchaser of real property identifying sanitation and egress, the conditions of occupancy and resale. Buydown Unit - Free-market which the government (Aspen, Pitkin County, Housing Office) acquired and deed restricted to affordable housing. 2000 Aspen/Pitkin County Housing Guidelines Page 48 of 57 Dependent - A minor child ~ years or Aspen area by requesting a .formal younger) or other relative of the renter approval with the Public' Safety Council or owner of an affordable housing unit, Housing~ Subcommittee (see Section 7, which child or relative is taken and listed RentaI. Waitlist). as a dependent for federal income tax purposes by such renter or owner or his Employee/Qualified Resident/Buyer - A or her present or former spouse (said person who is employed on the basis of dependent must also be related by blood a minimum of 1,500 hours worked per or adoption and residing with the calendar year in Pitkin County, which individual at least out of every 12- averages 35 hours a week, 10 months a month period of time), year; or 32 hours a week, 11 months a year, physically working in Pitkin County Disabled Person - A person who meets and must reside in the unit a minimum the definition of "individual with a of nine (9) months out of the year. If disability" contained in 29 U.S.C. Section self-employed, the worker must provide 706(8), and/or as defined in the verification of the work done in Pitkin Americans with Disabilities Act of 1990; County. and/or a person who has a "handicap," as defined in C.R.S. 24-34-301(4), the Employer - A business whose business Colorado Anti-discrimination Act. address is located within Aspen or Pitkin County, whose business employs Dormitory A structure or portion employees (as defined herein) within thereof under single management that Pitkin County, and whose business taxes provides group sleeping accommo- are paid in Aspen or Pitkin County. dations for occupants in one (1) or more employer is not physically based in rooms for compensation. Standards for Pitkin County, .an employee must be able use, occupancy, and design of such to verify that they Work in Pitkin County facilities shall be approved by the a. minimum of 1500 hours per calendar APCHA. See Part III, Sec. 4. ~/~t~ Emergency. Worker - An employee or Employee (Non-Profit) - A person who volunteer (on call 24 hours/day, 7 days a works/performs for a non-profit organi- week for human, life threatening zation. Employees include artists, emergencies) of a community based performers, musicians, organizers, organization that provides on-scene bookkeepers, etc., but excluding assistance giving personal care to construction workers. Non-profit victims including, but not limited to organizations include any certified non- the following: Fire Department Workers, profit organization providing services to Mountain Rescue, Sheriff's Deputies. and located in Pitkin County. Police Officers, Hospital Emergency Room Technicians, Social Service Employee Dwelling Unit - This is a deed Workers .(mental health and abuse case restricted unit that is required to be workers), Ambulance Drivers, Emergency rented out. Also see the Pitkin County Medical Technicians, Communications Land Use Code, Section 3-150-120. Dispatchers through the Sheriff's Office or Police Department, etc. Emergency Employee Housinq - See definition for Service Department Head approval is Affordable Housing. required', whereby the supervisor must demonstrate the need of' that agency to house another Emergency Worker in the 2000 Aspen/Pitkin County Housing Guidelines Page 49 of 57 Family-Oriented Unit - A dwelling unit Gross Assets Anything which has attached or detached, 3 bedrooms or tangible or intangible value, including more, with direct ground floor access to property of all kinds, both real and a useable yard area. personal; includes among other things, patents and causes of action which Fannie Mae (FNMA) - Federal National belong to any person, as well as any Mortgage Association, a quasi- stock in a corporation and any interest governmental agency that purchases in the estate of a decedent; also, the mortgage loans in the secondary loan entire property of a person, association, market, corporation, or estate that is applicable or subject to the payment of debts. Fee Simple Estate The maximum Gross assets shall include funds or possible estate that one can possess in property held in a living trust or any real property; complete and absolute similar entity or interest, where the ownership of indefinite duration, freely person has management rights or the transferable, and inheritable, ability to apply the assets to the payment of debts. Where approved by Financial Statement - A statement Special Review, gross assets shall not detailing all personal assets, liabilities, include, pension plans, blind trusts, or and net worth (the difference between other entities or interests in which a assets and liabilities) as of a specific person has no management rights and date. no ability to apply such assets to the payment of debts, except to the extent Fixture~ 1) A tangible thing which that taxable earnings or interest income previously was personal property and are derived therefrom. which has been attached to or installed on land or a structure thereon in such a Gross Income - The total income to way as to become a part of the real include alimony and child support property; 2) Any non-portable lighting derived from a business, trust, device built in or attached securely to employment and from income- the structure; 3) The permanent parts of producing property, before deductions a plumbing system and fixtures, for expenses, depreciation, taxes, and similar allowances. Household - All individuals who will be occupying the unit regardless of legal status. Household Net Assets - Combined net assets of all individuals who will be occupying the unit 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. 2000 Aspen/Pitkin County Housing Guidelines Page 50 of 57 In-Complex (In House) Bid - Priority bid Net Assets - Gross assets minus granted to person(s) having lived in their liabilities. Retirement accounts will be unit in a given complex for a minimum reviewed on a case-by-case basis to of one year. If a new project is built in determine whether or not they shall be phases, the in-compleX priority does not included as a net asset. go into effect:until all~affordablehousing phasing Of.the project is Completed. Net Livable Square Footage - Is calculated on interior living area and is Joint Tenancy- Ownership of reaJ estate measured interior wall to interior wall, between two or more parties who have including all interior partitions. Also been named in one conveyance as joint included, but not limited to, habitable tenants. Upon the death of one tenant, basements and interior storage areas, surviving joint tenant(s) have the right of closets and laundry area. Exclusions survivorship, include, but are not limited to, uninhabitable basements, mechanical Kitchen - For Accessory Dwelling Units areas, exterior storage, stairwells, and Caretaker Dwelling Units, a garages (either attached or detached), minimum of a two-burner stove with patios, decks and porches. oven, standard sink, and a minimum 6- cubic foot refrigerator plus freezer. On-Site/ Off-Site - Location ~f .deed restricted property used for mitigation Leasehold Interest - A less than fee purposes: either'next to.or attached to simple estate that a tenant possesses in the development .(on-:Site) or at a real property, separate . location apPf0Ved by the Housing OffiCe (off-Site). Lottery - A drawing to select a winner from equal applicants of highest priority. Prequalification - A borrower's tentative mortgage approval from a lender. Maximum Bid Price - Unless otherwise defined in the Deed Restriction covering Present Value - For the purposes of the unit, the owner's purchase price these Guidelines and any Deed multiplied by the appreciation (as Restrictions containing such terms, the permitted by the Deed Restriction) plus present value shall be the cost or price the present value of capital improvement of any capital improvements as costs including labor, if professionally established at the time of such provided, and for which verification of improvement and shall be neither the expenditure is provided, appreciated nor depreciated from such time. Minimum Occupancy -One person (with a leasehold/ownership interest) per Primary Residence - The sole and bedroom. A minor child or dependent exclusive place of residence. The owner shall be granted equal status as a person or renter shall be deemed to have with leasehold/ownership interest, ceased to use the unit as his/her sole and exclusive place of residence by Mortqaqee - A lender in a mortgage accepting permanent employment loan transaction, outside of Pitkin county, or residing in the unit fewer than nine (9) months out Mortgagor - A borrower in a mortgage of any twelve (1 2) months. loan transaction. 2000 Aspen/Pitkin County Housing Guidelines Page 51 of 57 Purchaser - A person who is buying or has purchased a deed restricted unit Special Review Committee - A Special which is subject to these Guidelines, and Review Committee, as established from any qualifying potential purchaser or time to time by the Housing Office, is past owner of any such deed restricted composed of three or more persons -- unit, but only with respect to any issue one person from City staff, one person arising under these Guidelines. from County staff, and a Housing Board member. The Committee shall have the Qualified Resident - Person(s) meeting authority to review special circumstances the income, asset, employment, and with respect to matters specifically residency requirements and property designated in the Guidelines that are ownership limitations, including retired eligible for special review, including, but and disabled persons, or dependent(s)of not necessarily limited to, the priority any of these (as such terms are defined system; financial and asset limitations; herein) established bythe APCHA. verifications and qualifications; self- employment financial considerations; Requalification - Requirements which occupancy; admission; etc. renters/tenants of affordable housing must meet bi-annually to ensure Storage Space - Space intended and continued eligibility, commonly utilized as location for preservation or later use or disposal of Resale Aqreement - A contract entered items. into between the Housing Office and the owner or purchaser of real property Tenancy In Common - Co-ownership in identifying the conditions of occupancy which individual holds an undivided and resale (also commonly referred to as interest in real property as if he were a Deed Restriction). sole owner. Retirement Aqe - Should an owner or Tenant - A person who is leasing or has tenant of a deed-restricted unit retire leased a deed restricted unit which is before the age of 65, that individual subject to these Guidelines, and any must sell the ownership or move from qualifying potential lessee or past lessee the deed restricted rental unit. Such of any such deed restricted unit, but individual may go through Special only with respect to any issue arising Review to ask for a waiver to maintain under these Guidelines. ownership/occupancy of his/her unit. Seasonal Employee - A person working not less than 35 hours per week during the Winter Season (generally November through April) and/or Summer Season (generally June through August). 2000 Aspen/Pitkin County Housing Guidelines Page 52 of 57 A PPEND IX A MAXIMUM INCOMES BY CA TEGORY (as o£)une 2000) Maximum rental incomes are different than maximum sales incomes. Due to the nature of the working adult in Pitkin County and the wages that are required to maintain a consistent employee base, the APCHA and Housing Board have recognized the need for a higher allowable income adjusted by the number of adults and the bedroom mix. Maximum sales incomes are not attributed to the number of bedrooms, but will remain the same per household, with an adjustment to dependents only. If net assets exceed the Category 4 net asset limit for any household witb a Category 1, 2 or 3 income, the following method can be used to calculate income: Each 545;000 of excess assets over $225~000 (the Category 4 asset limit)Will be con~erted, to $4,.1 ~2 of income and added to. the Gross Household Income; This is the amount necessary to purchase $346 per month of mortgage at an 8.5% interest rate over 30 years. Although this adjustment does not place a maximum cap on net assets, it creates greater equity between income categories by causing assets to count more towards income. MAXIMUM GROSS INCOMES FOR RENTAL UNITS ONLY No. Of Adults Category 1 Category 2 Category 3 Category 4 One Adult $25,500 $40,500 $65,750 $ ! 06,000 Two Adults 38,250 60,750 98,625 159,000 Three Adults 44,625 70,875 115,075 185,500 Net Assets not in Excess of 150,000 175,000 200,000 225,000 MAXIMUM GROSS INCOMES FOR SALES/OWNERSHIP UNITS ONLY No. of Dependents Category I Category 2 Category 3 Category 4 0 Dependents $25,500 $40,500 $65,750 $106,000 ! Dependent 33,000 48,000 73,250 113,500 2 Dependents 40,500 55,500 80,750 121,000 3 or More Dependents 48,000 63,000 88,250 128,500 Net Assets Not in Excess of 150,000 175,000 200,000 225,000 NOTE: A household can qualify to purchase or rent a unit in a higher category. The 0 Dependent income did not increase due to the Survey that was completed in 1999. Each dependent adds $7,500 to each category, up to three dependents. 2000 Aspen/Pitkin County Housing Guidelines Page 53 of 57 APPENDIX B CHART OF PRINCIPAl OWNERSHIP PROJECTS NUMBER OF UNITS MAXIMUM REQUIRED PROJECT NAME AND TYPE OF UNITS INCOME CATEGORY RESIDENCY AABC Rowhouses 12 Townhomes No Income Guidelines See Covenants Alpine Cottages 10 Townhomes Categop/4 and RO Per Guidelines Aspen Village MHP 150 Trailers/Own Land Resident Occupied Per Guidelines Benedict Commons 27 Studios & 1 -Bedrooms Category 2, 3 and 4 Per Guidelines Billings Place 7 Townhomes Category 2, 3 and 4 Per Guidelines Castle Crk Valley Ranch 4 Single-Family Homes Category 4 Per Guidelines Centennial 92 Condominiums Category 4 Per Guidelines Common Ground 21 Townhomes (land lease) Category 2 and 3 Per Guidelines East Hopkins 4 Townhomes Category 4 Per Guidelines East Owl Creek 4 Single-Family Homes Category 4 Per Guidelines Fairway Three 30 Townhomes Category 4 Per Guidelines Highland Villas 16 Condominiums Category 4 Per Guidelines Hunter Creek 77 Condominiums Category 4 Per Guidelines Juan Street 2 Duplexes; 2 5FH Category 4 Per Guidelines Lacet (East Cooper) 14 Townhomes/$FH Category 3, 4 and RO Per Guidelines Lone Pine 28 Condominiums Category 4 Per Guidelines Marthin~son- Nostdahl 10 Condominiums Category 3 and 4 Per Guidelines Midland Park 37 Condominiums Category 4 Per Guidelines Pitkin Iron 1 S Townhomes Category 2, 3 and 4 Per Guidelines Oh-Be-Joyful 5 Single-Family Homes Category 3 Per Guidelines Red House Enclave 6 Condominums Category 2 and 3 Per Guidelines Smuggler MHP 87 Single-Family (Modular) No Income Requirements Per Covenants Smuggler Run MHP ! 7 Single-Family (Modular) Category 4 Per Guidelines Sopris Crk Cabins 6 Units consisting of Lots 1,2, 5, 7 & 9: Category 3 (Meadows) Single Family & Duplexes Lot 8: Category ] Per Guidelines 2000 Aspen/Pitkin County Housing Guidelines Page 54 of 57 APPENDIX B CHART OF PRINCIPAL OWNERSHIP PROJECTS (continued) NUMBER OF UNITS MAXIMUM REQUIRED PROJECT NAME AND TYPE OF UNITS INCOME CATEGORY RESIDENCY Twin Ridge 12 Townhomes Category 4 Per Guidelines 13 Single-Family Homes Ute Park 7 Single-Family Homes Category 4 Per Guidelines Victorians at Bleeker 5 Condominiums Category 4 and RO Per Guidelines West Hopkins ] 1 Townhomes Category 2 and 3 Per Guidelines Williams Ranch 35 Units consisting of Category 2, 3, 4, RO-5 and Per Guidelines Single-Family Homes & RO Duplexes Williams Woods ] 8 Townhomes Category 2 and 3 Per Guidelines W/J Ranch 63 Single-Family Homes Category 4 and RO Per Guidelines Woody Creek MHP 54 Single-Family (Mobile RO MHP Requirements Per Covenants Homes) TOTAL 903 Units I I 2000 Aspen/Pitkin County Housing Guidelines Page 55 of 57 APPENDIX C CHART OF PRINCIPAL RENTAL PROJECTS AND REQUIREMENTS NUMBER OF UNITS MAXIMUM REQUIRED PROJECT NAME AND TYPE OF UNITS INCOME CATEGORY RESIDENCY AABC APARTMENTS 7 Units Category 3 Per Covenants ALPINA HAUS 44 Units N/A - Resident Occupied Per Ordinance ASPEN COUNTRY INN 40 Units Category 1 & 2 Per Guidelines BURLINGAME Per Covenants Permanent 8 Units Category 2 Seasonal 92 Units (I 84 beds) CASTLE RIDGE 80 Units Category 3 Per Covenants CENTENNIAL 148 Units Category 3 Per Guidelines CITY PLAZA BLDG. 4 Units Category 1 Per Resolution COPPER HORSE 13 Units N/A - Resident Occupied Per Resolution CORTINA (Hotel Jerome) 16 Units Category 1 Per Resolution HUNTER LONGHOUSE 33 Units Category 3 Per Guidelines MAROLT RANCH Permanent 4 Units Category 3 Seasonal 96 Units N/A Per Guidelines MOUNTAIN OAKS/HOSPiTAL 21 Units Hospital PrioriW Per Hospital PUPPYSMITH APARTMENTS 18 Units Resident Occupied Per Resolution SMUGGLER MOUNTAIN APARTMENTS ] ] Units Category 1 Per Guidelines TRUSCOTT PLACE ~ - & 2-Bedrooms 46 Units Category 3 Per Guidelines Studios 50 Units RD ULLR LODGE 26 Units Category 3 Per Guidelines UTE CIT~ PLACE 22 Units Category 2 & 3 Per Guidelines TOTAL 569 Units Permanent 188 Units Seasonal 757 Units You must be a qua/if/ed employee, retired person or disabled individual, as defined in the Guidelines, to reside in the units listed above. This is only a partial list as there are numerous deed-restricted units in the Aspen area. It is also a requirement that all deed restricted units meet minimum occupancy; ke., one person per bedroom. 2000 Aspen/Pit,in County Housing Guidelines Page 56 of 57 APPENDIX D L/STING OF PR/NC/PAL RENTAL PROJECTS AND PROPERTY MANAGERS (as of June 2000) Aspen Country Inn Bruce Nethery, Dir. of Prop. Mgmt. Marolt Ranch (Seasonal Housing) Aspen/Pitkin County Housing Authority Bruce Nethery, Property Director 530 East Main, Lower Level Aspen/Pitkin County Housing Authority Aspen, CO 816] ] 530 East Main, Lower Level (970) 925-2700; 920-1745 Fax Aspen, CO 81611 (970) 920-3499 (Jan.-May & Sept.-Dec.) AABC Apartments (970) 920-0849 Fax Jean Rhinehart 303 Aspen Airport Business Center Mountain Oaks (Hospital) Aspen, CO 8] 6] 1 Don Gillow, Emp. Housing Coordinator (970) 925-2102; 925-2104 Fax 0401 Castle Creek Road Aspen, CO 81611 Alpina Haus (970) 544-1141 Kevin De Carlo, Property Manager (970) 544-1588 Fax 935 East Durant Aspen, CO 81611 North Mill Station (970) 920-3975; 920-2396 Fax Tony Mazza/Frank Woods, Managers 355 Puppy Smith Lane Burlingame Seasonal Housing Aspen, CO 8161 Terry Kappeli, Property Manager (970) 925-8603 050 Harmony Place Aspen, CO 81611 Smuggler Mountain (970) ? Bruce Nethery, Property Director Aspen/Pitkin County Housing Authority Centennial Apartments 530 East Main, Lower Level Klm Keilin, Property Manager Aspen, CO 8161 l 100 Luke Short Court (970) 379-6048 Aspen, CO 81611 (970) 920-5580 Fax (970) 925-1876; 920-2691 Fax Truscott Place Apartments Copper Horse Bruce Nethery, Property Director Kevin DeCarlo, Property Manager Aspen/Pitkin County Housing Authority 328 West Main Street 530 East Main, Lower Level Aspen, CO 81611 Aspen, CO 81611 (970) 920-3975; 920-2396 Fax (970) 920-5139; 920-5358 Fax Hunter Longhouse Apartments Charles Jernberg, Property Manager 101 Lone Pine Road, #20 Aspen, CO 81611 (970) 379-3939 2000 Aspen/Pitkin County Housing Guidelines Page 57 of 57 APPENDIX E OZ OSSA R Y 2000 Aspen/Pitkin County Housing Guidelines Page 58 of 57