Topics and Links: Valley Brook Neighborhood Buy Down Program Impact Fees Capital Improvements Resale Calculations Studies Block 11 Master Plan Jobs/Wage Data Requirements for New Development (Town Code 9-1-19-24R) Wellington Neighborhood Looking for Housing? Program Goals: The goal of the Breckenridge Workforce Housing Program is to insure that affordable housing is integrated throughout the community to provide a variety of housing options for the local workforce.
Topics and Links:
Valley Brook Neighborhood
Buy Down Program
Impact Fees
Capital Improvements
Resale Calculations
Studies
Block 11 Master Plan
Jobs/Wage Data
Requirements for New Development (Town Code 9-1-19-24R)
Wellington Neighborhood
Looking for Housing?
Program History: Resort communities, such as Breckenridge, frequently experience a shortage of housing that is affordable to the local workforce. Many of the jobs associated with a tourism based economy are lower paying jobs. As a community becomes a popular vacation and/or retirement option, with a limited supply of land and housing, real estate prices become increasingly unaffordable to the local workforce. When the workforce is displaced or priced out it becomes more difficult to sustain a vibrant economy, to fill jobs, to retain families, to service visitors, and satisfy the needs of the community. The Town of Breckenridge has adopted specific housing strategies (link to 2008 Workforce Housing Action Plan) to insure that there are opportunities for the workforce to live in Town because the lack of housing impacts not only the employees and their families, but also impacts the broader community including residents, employers, and guests in many different ways.
Funding / Summit Combined Housing Authority / Impact Fees: In November of 2006 the voters authorized a County-wide 0.125% sales tax and a development impact fee for affordable housing purposes. The sales tax and impact fee generate approximately $700,000 annually in Breckenridge. This tax and impact fee will expire in 2017. In addition to the revenue generated through sales tax and impact fee, the Town of Breckenridge also allocates additional funds into a Breckenridge Affordable Housing Fund. For information on the housing fund, impact fee, or sales tax please contact Laurie Best. In conjunction with the County-wide sales tax and impact fee, the Summit Combined Housing Authority (SCHA) was formed in 2006 to represent all of the jurisdictions within Summit County. The Town of Breckenridge works closely with the SCHA to coordinate the Town’s housing projects and programs with other County-wide efforts. Additional information about the SCHA and their mission is available at SCHA web site.
Accomplishments: Deed Restrictions:
In addition to these neighborhoods, there are over 116 individual units dispersed in Town that are subject to deed restriction. To determine if your home is subject to a deed restriction and how that deed restriction affects the permissible use and resale price of your home, please contact the Summit Combined Housing Authority at (970) 423-7044.
Studies / Impacts:
2008 Workforce Housing Action Plan 2000 Affordable Housing Strategy 2003 Upper Blue Housing Needs Assessment 2006 Breckenridge Housing Need Assessment 2010 Housing Highlights 2011 Resort Demographics Jobs and Wage / Price and Income Information Area Median Income
Current Projects / Next Steps: Valley Brook Neighborhood Buy Downs - Pursuant to the 2008 Workforce Housing Action Plan, the Town of Breckenridge is expanding efforts to acquire existing free-market units and convert them to permanently affordable workforce housing. This is an important strategy particularly as over time the market units that are currently occupied by employees are converted to other uses such as retirement or vacation homes. It is estimated that there are up to 1,000 market units in the Upper Blue (Breckenridge area) that are currently occupied by local employees. The Housing Needs Assessments do not account for any loss of these market units in the housing needs projection, so as employees retire and/or sell their market units to non-employees the shortage of affordable workforce housing is exacerbated. The Town is working to develop specific criteria for Buy Down opportunities. For additional information on this program, please contact Laurie Best. Block 11 Housing Plan
Additional Resources:
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