Housing lottery applications available for resale of townhome in Chamonix Vail

Lottery applications for the resale of a home at Chamonix Vail are available on the town of Vail website at http://www.vailgov.com. The 1,233-square-foot, two-bedroom, two-bath, two-car garage townhome in West Vail is located at 2387 Lower Traverse Way Unit A.

The lottery is open to any qualifying individual interested in purchasing the deed-restricted home for $520,831. The Valley Home Store will hold private showings of the residence by appointment only on April 26 and April 28. Schedule an appointment today.

Application packets for the housing lottery are due to the town of Vail by 3 p.m. May 3. A virtual lottery is scheduled for 1:30 p.m. May 10 and applicants are welcome to attend though not required to be present. All tickets will be drawn to determine the winner and a reserve list should the winner be unable to complete the process.

Each qualified applicant can receive a minimum of one lottery ticket for entry into the resale lottery drawing. Additional lottery tickets shall be awarded, up to a maximum of five total, based upon the following criteria:

• Meet minimum lottery participation criteria (1 lottery ticket)
• Vail resident (1 lottery ticket)
• Vail resident for equal to or greater than five years (1 lottery ticket)
• Employed in Vail (1 lottery ticket)
• Employed in Vail for equal to or greater than 5 years (1 lottery ticket)
• Maximum Total: Five lottery tickets

Lottery applicants must meet the following basic eligibility requirements to qualify:

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• The residence must be used as an owner-occupied primary home.
• Applicants must be employed at a legitimate 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% of the applicant’s total income must be earned by working at an Eagle County business.
• Applicants must agree to an annual resale price appreciation cap percentage as stated in the deed restriction.
• Neither the applicant nor any member of the applicant’s immediate family may own improved residential real estate in Eagle County at the time of closing, except where that real estate is deed-restricted as a Town of Vail employee housing unit.

Applicants must reapply for each new lottery. Chamonix Vail homes have a resale price appreciation cap of 15% per annum plus any approved capital improvements.

For more information, contact Vail Housing Coordinator Lynne Campbell at 970-479-2150 or email lcampbell@vailgov.com.