Vail Work force homes in Vail should be priced mostly in the $300,000 to $350,000 range and consist of condominiums and townhomes, according to a study.
Consultants from Economic & Planning Systems, who have been studying the town's planned affordable housing project at Chamonix, will present the findings of their analysis to the Vail Town Council at next Tuesday's meeting.
The council commissioned the analysis to determine the demand, appropriate pricing and types of homes that should be built on 5.5 acres in West Vail. The plans include 58 affordable, deed-restricted homes and a new fire station.
The analysis recommends that the neighborhood be a mix of mostly 2-bedroom condos and mostly 3-bedroom townhomes in order to hit the right price range and meet the needs of families and residents who would live there.
Prices for condos should be between $285,000 to $305,000, and townhomes should cost between $375,000 and $420,000, according to the study.
The town will use the results to determine the feasibility of the project and decide whether and how much the town will need to subsidize the homes.
Budget may be cut by $1M
The council will make a decision about $1 million in cuts to the town's budget. The cuts are needed because of declining sales tax revenues, which have been dropping since fall 2008, and an expected decline in construction.
The cuts would include two layoffs of jobs related to community development, and eliminating 5.5 currently vacant jobs in planning, building inspection, code enforcement and public works.
Another chunk would come out of funds reserved for merit raises and for the employee home ownership program. Other departmental cuts would reduce funds for travel, office supplies, meals and recruiting. The department cuts also would include canceling one of three community picnics and the bi-annual construction update mailed out by the town.
The town council also will decide whether offices have a place on the first floors of Lionshead Village. Currently, the first level of the village is reserved for stores or restaurants with sales tax generating potential, but the owner of the Treetops building, located across the street from Subway and the parking garage, is requesting an ordinance change that would open the doors for professional and business offices on the first floor.