Vail council to address deed-restriction compliance
The Vail Town Council will consider at its Tuesday, Dec. 7 meeting the first reading of an ordinance that will change the way annual deed restriction compliance is enforced . The action item is listed as 6.3 on the evening meeting agenda, which begins at 6 p.m. in the Vail Town Council Chambers with opportunities for public comment either in-person or virtually.
As proposed, Ordinance No. 24 would create an administrative penalty of $250 for deed-restricted property owners that fail to meet the deed restriction compliance deadline of Feb. 1 annually. The purpose of the annual reporting requirement is to ensure that all 1,025 deed-restricted homes within the town are being occupied in full compliance with the terms of the deed restriction agreements.
Because of the importance of the reporting requirement to protect the town’s investment in deed-restricted homes, Ordinance No. 24 has been recommended for adoption by the Vail Local Housing Authority to address lapses in reporting. Deed-restricted property owners can avoid the penalty fee by submitting the required deed restriction compliance verification materials on time.
To review a staff memo on Ordinance No. 24, visit the town’s website at Vailgov.com. To register to provide public comment during the meeting, visit Vailgov.com/town-council or to provide public input prior to the meeting, email email@example.com.