| | | | | | | | VAIL TOWN COUNCIL AGENDA MEMO
|
| | | | | | | | ITEM/TOPIC: Fee in Lieu Payment Rate for Inclusionary Zoning and Commercial Linkage Discussion
|
| | | | | | | | PRESENTER(S): George Ruther, Housing Director
|
| | | | | | | | ACTION REQUESTED OF COUNCIL: Listen to presentation and provide policy direction as outlined in the staff memorandum.
|
| | | | | | | | BACKGROUND: The fee in lieu payment rates have not been amended since the original adoption of the inclusionary zoning and commercial linkage requirements and are based upon the gap in affordability between area median income in Eagle County and the median price of residential dwelling units in the Town of Vail. The fee in lieu rates should be amended to reflect the current cost of constructing deed-restricted homes rather than rely solely upon the gap in affordability.
|
|