Workforce Housing Strategies

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FUNDING:

FUNDING/SUMMIT COMBINED HOUSING AUTHORITY:

In November of 2006 the voters authorized a County-wide 0.125% sales tax and a development impact fee for affordable housing purposes.  This was renewed by the voters in 2015 and a new Construction Fund was approved by the voters in November of 2016.  These revenue streams generate approximately $3,000,000 annually which is available to preserve and/or develop affordable housing.


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 the SCHA web site.

NEIGHBORHOOD PLANS & REPORTS:

BLOCK 11 HOUSING PLAN

In late 2007, the Town Council endorsed a plan for local workforce housing on property commonly known as Valley Brook and Block 11. The plan allows up to 400 units to be developed on the Town owned property over the course of the next ten to twelve years. The housing will be developed in phases, the first of which will be located on the property commonly known as Valley Brook, just south of the Upper Blue Elementary School.  In addition to housing, this project also created trail and transit connections along with pocket parks and recreational spaces through out.   

In the fall of 2016 the Town Council broke ground on Denison Placer portion of Block 11 which directly to the South of Colorado Mountain College's Campus to kick off two new projects: Dennison Project I which will be for sale town houses and Denison Project II which will consist of studio and one bedroom rental units.  To learn more about the vision plan for Block 11 click on the links below.                 

Valley Brook / Block 11 Vision Plan

POLICIES & PROGRAMS

DEED RESTRICTIONS:

The Town of Breckenridge utilizes deed restrictions (restrictive covenants) to insure that housing (both rental and home ownership) remains affordable over time for use and occupancy by local employees. A deed restriction is a legal agreement that runs with the land and binds subsequent owners. There are several types of deed restrictions and there are several neighborhoods and individual properties within the Town that are subject to a deed restriction. A deed restriction in Breckenridge will usually limit the occupancy of a home to a local employee and may include resale, appreciation, and income caps as well as other restrictions. There are approximately 1,000 deed restricted properties in Breckenridge.
 

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. 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 Nichole Rex at 970-453-3161.

ANNEXATIONS:

The Town of Breckenridge annexation policy has been highly effective in generating affordable housing.  Breckenridge annexations provides greater densities via transfer of development rights, deferring water tap fees, and waiving permit fees.  On the proposed annexation, a minimum of 80% of the proposed dwelling units should be developed as deed restricted housing with a maximum of 20% market rate units.  For more information on annexations, please contact Nichole Rex.

DEVELOPMENT REQUIREMENTS:

To encourage the development of new affordable housing and buy down of existing units, the Town of Breckenridge uses Policy 24 in section 9-1-19 of the Development Code to apply point assessments based on the size of the development.  To view the entire Breckenridge development code click here.