Applications for housing lottery in Vail are available
Vail, CO Colorado
VAIL, Colorado – Housing-lottery applications for the Town of Vail’s master purchaser list are now available on the town’s website at http://www.vailgov.com or from the Community Development Department, 75 South Frontage Road. The list will be in effect for one year and used when any existing town-facilitated housing units become available for resale. Applicants will be placed into tiers based on the number of years working and living in Eagle County, and resale units will be awarded to the top person on the list. Priority will be given to those living and/or working in Vail. Currently none of the 82 qualifying units are available for purchase.
Application packets for the housing lottery are due by noon June 7. A lottery is scheduled for 5 p.m. on July 11, and applicants or an applicant’s representative must be present to be eligible for the drawing. The priority list will then be used for all housing units that are resold from July 12, 2012 through July 10, 2013.
Lottery applicants must meet the following basic eligibility requirements to qualify:
• Applicants must currently own no other residential real estate in Eagle County, or it must be a price-appreciation capped employee-housing unit.
• The residence must be used as an owner-occupied primary home.
• Applicants must be employed at an Eagle County business and must work a minimum of 30 hours each week over the course of a year and continue working that same amount until the sale of the property or retirement.
• 75 percent of the applicant’s total income must be earned by working at an Eagle County business.
• Applicants must agree to a resale cap of 3 percent annual appreciation.
For more information, contact Vail Housing Coordinator Nina Timm at 970-479-2144.
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