Vail Housing Authority spending $10K on tax question research | VailDaily.com

Vail Housing Authority spending $10K on tax question research

VAIL — When the Vail Local Housing Authority late last year approved its 2019 budget, the volunteer group added a couple of items.

In the $43,200 budget — a $12,200 increase from 2018 — there are items for professional development and administrative expenses.

But there’s also a $10,000 item to research a possible ballot question for a tax increase in town.

Town officials have long discussed the need for a consistent source of funding for the town’s housing program, particularly the Vail InDeed program. That program buys deed restrictions on units in town in an effort to keep for-sale units affordable and rental units out of the short-term rental pool.

Creating the program — and buying $4.2 million in deed restrictions at the under-construction Solar Vail apartments — quickly drained the town’s housing fund. That fund had built up over a number of years.

The Vail Town Council in December agreed to put $2.5 million into the housing fund for 2019, with council members saying at the time that the town’s general fund can’t continue the practice.

If anything comes of the research, town voters could see a proposal as soon as this year. But the research into a proposal is about the extent of town spending.

Council member Greg Moffet reminded housing authority board members that if a ballot measure is sent to voters this fall, no town money can be used to support the idea.




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