FOR IMMEDIATE RELEASE
Board of Commissioners Adopts Updated Employee Housing Impact Mitigation Fee
New fee structure more accurately reflects employee housing needs and costs
(July 8, 2022) – San Miguel County, CO --- This week, the San Miguel County Board of Commissioners adopted a resolution amending the Employee Housing Impact Mitigation Fee. These fees are used to support the development of capital projects that will further county housing goals and policies and assist in the construction of workforce housing.
Employee housing impact mitigation fees were first adopted in 2007, but the methodology used has not kept pace with actual employee housing needs or costs. The new mitigation fee is based on a Market-Affordability Gap approach, which looks at the difference between the free market price of housing in the Telluride region and an amount that is affordable to those living in the community and earning 100% of the Area Median Income (AMI). This same method is used by the Town of Telluride and Town of Mountain Village. There are exemptions for homes less than 1,800 square feet in size and for deed-restricted properties.
County Commissioner Hilary Cooper said, “San Miguel County is fully committed to supporting our local economy, workforce, and quality of life through the development of more affordable housing. It will take all of us working together to continue to find solutions; updating our mitigation measures is one action the county can take directly to ensure residential development is more adequately contributing to those solutions. We applaud Telluride and Mountain Village, who recently updated their affordable housing mitigation fees and are pleased to announce this updated version for development within the unincorporated county.”
The amended fee will go into effect on Friday, July 15, 2022, and will apply to all complete building permit applications submitted on or after that date. Building permit applications that are submitted and complete prior to July 15 will be subject to the current mitigation fee.
The adopted Affordable Housing Fee Method Report and Affordable Housing Impact Fee Calculation Worksheet is available online at https://www.sanmiguelcountyco.gov/198/Planning.
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