VAIL \u2014 When the Vail Local Housing Authority late last year approved its 2019 budget, the volunteer group added a couple of items.<\/p>\n
In the $43,200 budget \u2014 a $12,200 increase from 2018 \u2014 there are items for professional development and administrative expenses.<\/p>\n
But there’s also a $10,000 item to research a possible ballot question for a tax increase in town.<\/p>\n
Town officials have long discussed the need for a consistent source of funding for the town’s housing program, particularly the Vail InDeed program. That program buys deed restrictions<\/a> on units in town in an effort to keep for-sale units affordable and rental units out of the short-term rental pool.<\/p>\n Creating the program \u2014 and buying $4.2 million in deed restrictions at the under-construction Solar Vail apartments \u2014 quickly drained the town’s housing fund. That fund had built up over a number of years.<\/p>\n The Vail Town Council in December agreed to put $2.5 million into the housing fund for 2019, with council members saying at the time that the town’s general fund can’t continue the practice.<\/p>\n If anything comes of the research, town voters could see a proposal as soon as this year. But the research into a proposal is about the extent of town spending.<\/p>\n Council member Greg Moffet reminded housing authority board members that if a ballot measure is sent to voters this fall, no town money can be used to support the idea.<\/p>\nRecommended Stories For You<\/h2>\n<\/p><\/div>\n