| | | | | | | | VAIL TOWN COUNCIL AGENDA MEMO
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| | | | | | | | ITEM/TOPIC: Update on the Initiative to establish a long-term funding source for housing
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| | | | | | | | PRESENTER(S): Steve Lindstrom, Chair, Vail Local Housing Authority
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| | | | | | | | ACTION REQUESTED OF COUNCIL: This agenda item is for information only. No action by the Town Council is requested at this time.
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| | | | | | | | BACKGROUND: The purpose of this agenda item is to provide an update on the initiative to establish a long-term funding source for housing. This is the first in a series of tasks to propose long-term funding source options for consideration and evaluation. The intended outcome of this effort is to identify, and eventually secure, a preferred long-term funding source to aid the Vail community in achieving the Town’s adopted housing goal.
The availability of housing remains the #1 most critical issue facing the Vail community. In 2017, the Vail Town Council, in collaboration with the Vail Local Housing Authority, drafted and adopted the Vail Housing 2027 Strategic Plan. An action step identified within the Plan is to "evaluate dedicated deed restriction acquisition revenue sources to ensure adequate funding exists."
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| | | | | | | | STAFF RECOMMENDATION: As this is not a request for formal action, no recommendation is provided at this time.
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