{"id":805973,"date":"2020-04-02T15:10:20","date_gmt":"2020-04-02T21:10:20","guid":{"rendered":"https:\/\/www.summitdaily.com\/?p=381318"},"modified":"2020-04-02T15:10:20","modified_gmt":"2020-04-02T21:10:20","slug":"vail-town-council-approves-rent-relief-for-two-large-apartment-complexes","status":"publish","type":"post","link":"https:\/\/alwaysmountaintime.com\/ksmt\/local-news\/vail-town-council-approves-rent-relief-for-two-large-apartment-complexes\/","title":{"rendered":"Vail Town Council approves rent relief for two large apartment complexes"},"content":{"rendered":"<figure class=\"wp-block-image p402_hide\">\n<div class=\"caption-container\"> <img loading=\"lazy\" decoding=\"async\" width=\"640\" height=\"364\" src=\"https:\/\/cdn.summitdaily.com\/wp-content\/uploads\/sites\/2\/2020\/04\/Screen-Shot-2020-04-02-at-3.03.53-PM.png\" class=\"attachment-large size-large wp-post-image\" alt srcset=\"https:\/\/cdn.summitdaily.com\/wp-content\/uploads\/sites\/2\/2020\/04\/Screen-Shot-2020-04-02-at-3.03.53-PM.png 640w, https:\/\/cdn.summitdaily.com\/wp-content\/uploads\/sites\/2\/2020\/04\/Screen-Shot-2020-04-02-at-3.03.53-PM-300x171.png 300w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\"><\/div>\n<\/figure>\n<p>The Vail Town Council on Tuesday approved a pair of measures to provide rent relief for tenants at two of the town\u2019s large apartment complexes.<\/p>\n<p>The town last week&nbsp;<a href=\"https:\/\/www.vaildaily.com\/news\/vail-town-council-readies-a-500000-emergency-relief-fund\/\" target=\"_blank\" rel=\"noopener noreferrer\">received a request from Coughlin and Company<\/a><i class=\"fas fa-external-link-alt\"><\/i>, which built and operates the Middle Creek Village apartments, to release a $300,000 deposit the company paid the town in the early 2000s. That money was originally supposed to be released 55 years after the complex was completed.<\/p>\n<p>Instead, the deposit money will fund rent reductions at the complex. But those reductions won\u2019t apply to companies that lease blocks of apartments for their employees.<\/p>\n<p>The Middle Creek relief could last up to three months.<\/p>\n<div class=\"row\">\n<div class=\"col\">\n<div class=\"row sd-donation sd-donation-mobile p-0\">\n<div class=\"col-xl-4 p-2\">\n<div data-bg=\"url(https:\/\/cdn.summitdaily.com\/wp-content\/uploads\/sites\/2\/2020\/03\/SDN-logo-white-1.png)\" class=\"p-0 mt-2 mb-2 h-75 text-center rocket-lazyload\"><img decoding=\"async\" src=\"https:\/\/cdn.summitdaily.com\/wp-content\/uploads\/sites\/2\/2020\/03\/SDN-logo-white-1.png\" class=\"logo m-0 p-0 invisible\"><\/div>\n<\/div>\n<div data-bg=\"url(https:\/\/cdn.summitdaily.com\/wp-content\/uploads\/sites\/2\/2020\/03\/sdn-banner-paypal.jpg)\" class=\"col-xl-8 p-3 text-center rocket-lazyload\">\n<h3 class=\"d-inline mr-3\">Support Local Journalism<\/h3>\n<p><button class=\"btn d-inline\" type=\"button\"><a href=\"https:\/\/www.summitdaily.com\/donate\/?utm_source=article&amp;utm_medium=website&amp;utm_campaign=donation&amp;utm_term=&amp;utm_content=mid-article\">Donate<\/a><\/button><\/div>\n<\/div>\n<p><\/div>\n<\/div>\n<p>The town will also provide rent abatements at Timber Ridge for up to three months. Those abatements are for individual renters and don\u2019t apply to master-leased units.<\/p>\n<p>After the meeting, Councilmember Jenn Bruno said the relief at Timber Ridge will be reviewed every month.<\/p>\n<p>\u201cI hope this inspires other landlords to consider reducing rents,\u201d Bruno said.<\/p>\n<p>Bruno added that the rent assistance is one way to keep people in Vail who might otherwise leave.<\/p>\n<p>Having people living in town, healthy and stress-free, will be a boon when it\u2019s time to again welcome visitors, Bruno said.<\/p>\n<h2>Relief fund gets approval<\/h2>\n<p>The council Tuesday also approved creating a $500,000 relief fund. That money, which officials say could be just the start of town relief efforts, will be given to local nonprofit groups, which have seen rapidly-rising requests for assistance.<\/p>\n<p>Bruno, the co-owner of the Luca Bruno clothing shops, asked if businesses in town might be able to access relief funds since local nonprofit groups don\u2019t aid businesses.<\/p>\n<p>Vail Town Manager Scott Robson replied that the current relief fund may be just the start of the town\u2019s efforts.<\/p>\n<p>\u201cKnowing the size of the (need), we knew how thin that pool of (money) would get very quickly,\u201d Robson said.<\/p>\n<p>The town will need to use reserve funds for the relief fund and other efforts. Vail Finance Director Kathleen Halloran told council members that the town in 2019 collected roughly $4 million in revenue above the town\u2019s budget that year. Halloran said town efforts are trying to use just that amount for relief, operations and other needs.<\/p>\n<p><em>Vail Daily Business Editor Scott Miller can be reached at&nbsp;<a href=\"mailto:smiller@vaildaily.com\" target=\"_blank\" rel=\"noopener noreferrer\">smiller@vaildaily.com<\/a><i class=\"fas fa-external-link-alt\"><\/i>.<\/em><\/p>\n<p><a href=\"https:\/\/www.summitdaily.com\/news\/vail-town-council-approves-rent-relief-for-two-large-apartment-complexes\/\" target=\"_blank\" rel=\"noopener noreferrer\">via:: Summit Daily<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Vail Town Council on Tuesday approved a pair of measures to provide rent relief for tenants at two of the town\u2019s large apartment complexes. The town last week&nbsp;received a request from Coughlin and Company, which built and operates the Middle Creek Village apartments, to release a $300,000 deposit the company paid the town in [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[99],"tags":[],"class_list":{"0":"post-805973","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-local-news"},"acf":[],"publishpress_future_action":{"enabled":false,"date":"2026-07-17 10:53:06","action":"change-status","newStatus":"draft","terms":[],"taxonomy":"category","extraData":[]},"publishpress_future_workflow_manual_trigger":{"enabledWorkflows":[]},"distributor_meta":false,"distributor_terms":false,"distributor_media":false,"distributor_original_site_name":"KSMT The Mountain","distributor_original_site_url":"https:\/\/alwaysmountaintime.com\/ksmt","push-errors":false,"_links":{"self":[{"href":"https:\/\/alwaysmountaintime.com\/ksmt\/wp-json\/wp\/v2\/posts\/805973","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alwaysmountaintime.com\/ksmt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alwaysmountaintime.com\/ksmt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alwaysmountaintime.com\/ksmt\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/alwaysmountaintime.com\/ksmt\/wp-json\/wp\/v2\/comments?post=805973"}],"version-history":[{"count":0,"href":"https:\/\/alwaysmountaintime.com\/ksmt\/wp-json\/wp\/v2\/posts\/805973\/revisions"}],"wp:attachment":[{"href":"https:\/\/alwaysmountaintime.com\/ksmt\/wp-json\/wp\/v2\/media?parent=805973"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alwaysmountaintime.com\/ksmt\/wp-json\/wp\/v2\/categories?post=805973"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alwaysmountaintime.com\/ksmt\/wp-json\/wp\/v2\/tags?post=805973"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}