Town of Telluride: Council & Housing Authority Adopt New Employee Rental Housing Policies!

22 Nov Town of Telluride: Council & Housing Authority Adopt New Employee Rental Housing Policies!

The Town of Telluride Council and Housing Authority adopt new employee rental housing policies.

New framework expands eligibility, addressing evolving housing needs for local employees.

The full policy document and additional resources are available on the Town of Telluride’s website. For more information, visit bit.ly/totrentalpolicies or contact the Telluride Housing Division at rentalhousing@telluride-co.gov. 

Public forum 12/11/24. (Scroll down for details.)

Go here for more about the Town of Telluride.

The Telluride Housing Authority (THA) and Telluride Town Council have passed a resolution adopting the Telluride Employee Rental Housing Policies to address the critical need for housing for local employees. New policies aim to expand access, clarify rules and enforcement, and promote economic diversity within the community.

Policies provide a centralized framework for managing town-constructed rental units, replacing previous project-specific parameters. Developed through extensive public input, stakeholder discussions, and a comprehensive review of community needs, the updates seek to ensure clarity, consistency, and accessibility for both tenants and staff.

Key changes include:

• Income-based rent tiers: A new tiered structure ties rent to household income, with eligibility expanded to households earning up to 240% of the area median income (AMI).

• Streamlined qualifications: The policies standardize requirements for employment, residency, and assets across all properties, ensuring clarity and consistency for tenants and staff.

• Income exclusions: Adults can file an income exclusion for up to a maximum of $15,000 per adult, with no household income exclusion maximum.

Exclusions include retirement and homebuyer savings, childcare or medical expenses, and more and can impact the income-based rent tier under which a household falls. Alternatively, a 15% Efficiency Discount is available for Households of two or more people occupying studios, tiny homes, or one-bedroom units.

• Minimum employment hours: The minimum employment requirement increased to an annual standard 1400 hours per adult 18 years of age and older. Up to 20% of employment hours can be volunteer hours. A Caregiver Exemption is also available for those who must give non-employment care to children under the age of six or dependents with disabilities requiring at-home care.

The updated tiered rent structure ties rental rates to household income, increasing affordability while expanding eligibility. Households earning up to 240% of the area median income (AMI) now qualify for certain town-constructed rental units, addressing the “missing middle” – residents who are priced out of market-rate housing, but earn too much to qualify under previous policies.

In Fall 2023, Community Services Director DeLanie Tapson reviewed compliance across Telluride’s rental properties and found that more than 57% of tenants were not meeting existing qualifications. The finding highlighted the need for updated policies to align with the community’s evolving needs.

“Our goal was to align policy with the current realities of housing in Telluride while preserving our community character,” Tapson said. “We encourage all tenants to meet with Rental Housing. Division staff to review how the policies will impact their specific situations.”

The policies apply to all 244 town-constructed units across Shandoka Apartments, Virginia Placer, Sunnyside, Voodoo, and the Boardinghouse. They address issues such as income caps, employment hour requirements, and flexibility in household definitions.

Implementation of the new policies begins January 2025, with lease renewals incorporating updated requirements.

Two hybrid public forums will be held at 9 a.m. and 6 p.m. on Wednesday, December 11, in theWilkinson Public Library Program Room to provide information about the new policies and answer questions. Each forum will last one hour, with Spanish language interpretation available both in person and online.

Town of Telluride, more:

Nestled amidst the majestic San Juan Mountains of southwest Colorado, Telluride’s captivating narrative is deeply rooted in the ancient legacy of the Ute tribe, the valley’s original inhabitants, who crafted their summer camps along the San Miguel River, naming the land “The Valley of Hanging Waterfalls.”

In the late 1700s, Spanish explorers traversed the rugged terrain, laying the groundwork for subsequent exploration and settlement. A fervent mining boom followed, igniting a rush of prospectors to the region, culminating in the founding of Telluride in 1880.

Telluride’s allure as a hub of opportunity attracted fortune seekers, bolstered by the arrival of the Rio Grande Southern Railroad and groundbreaking innovations like the hydroelectric power plant in Ames.

Set in a box canyon amid forested peaks at the base of the popular Telluride ski-and-golf resort, the town’s historic district houses landmarks like the Sheridan Opera House and the Telluride Historical Museum while playing host to culture, music, arts, outdoor recreation, and festivals with unrivaled views and dramatic locale.