Housing assessment prompts Gypsum Town Council discussion of prices, state mandates

Local governments are a step ahead on the requirements of a new state law that requires local housing assessments.

The Gypsum Town Council at its Dec. 10 meeting held a work session about the results of that local assessment, conducted by Eagle County and the town of Avon.

Town Community Development Director Lana Bryce shared the results of that assessment with council members. The assessment is part of the process required by Senate Bill 174, passed earlier this year. That bill contains a mandate for a housing action plan, to be completed no later than Jan. 1, 2028.

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Among the key points of the assessment are:

• 74% of all the housing units added in Eagle County between 2010 and 2022 were built in Avon, Eagle and Gypsum. Of those, 970 were built in Gypsum.
• The 2015 median sale price of homes in Gypsum was $397,000. The current median sale price is $720,000.
• According to Town Manager Jeremy Rietmann, only one of the town’s 64 employees can afford to buy a median-priced home.

Bryce then detailed several of the steps the town has taken to boost housing inventory in town, including:

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• Density bonuses for smaller units.
• Consideration of an accessory dwelling unit program that would waive water and sewer tap fees for those units.
• Allowing hotels to use 50% of their rooms for stays of one year or less.
• Reanalyzing water and sewer fees for units of 500 square feet or less.

In all, the list is more than a dozen items long.

Council member Kathleen Brendza said the town’s plan looks “very comprehensive,” adding that perhaps the valley’s other towns might want to also step up in terms of building units.

But, Town Manager Jeremy Rietmann noted while Gypsum has the “most affordable” housing in the valley, the reality is that to buy one of the lowest-priced homes in town, a buyer still needs a household income of nearly $200,000.

Council member Tom Edwards asked if the town is being asked to pay down the difference between the median prices and median incomes.

Council members balked at that idea, with council member Scott Green suggesting the town might be able to buy down points on interest rates rather than prices.

Council members also agreed that when the state does require information for the town’s action plan, the town should provide the bare minimum of information, with Council member Bill Baxter advocating to keep state officials out of the town’s business “as much as possible.”