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PZC Packet 081026A Avon jj[��'�j AVON PLANNING & ZONING COMMISSION Meeting Agenda Monday, August 10, 2026 Public Meeting Begins at 5:30 PM TEAMS LINK: https://teams.microsoft.com/meet/240853380295912?p=HHV4SWKKx5pEP5QQic To join meeting via phone, dial (945) 468-5504 and enter conference ID: 477 057 969# 1. Call to Order and Roll Call (Chairperson) — 5:30 PM 2. Approval of Agenda 3. Disclosure of any Conflicts of Interest or Ex-Parte Communication Related to Agenda Items 4. Public Comment — Comments are Welcome on Items Not Listed on the Following Agenda Public Comments are limited to three (3) minutes. The speaker may be given one (1) additional minute subject to Planning and Zoning Commission approval. 5. Public Hearing 5.1. CPA26-001 Community Housing Plan Updates (continued from July 13 meeting) — Jena Skinner, Planning Manager 6. Consent Agenda 6.1. July 13, 2026 Planning and Zoning Commission Meeting Minutes 6.2. Record of Decision: MNR26-010 Exterior Remodel at 5580 Coyote Ridge 7. Future Meetings 7.1. August 24, 2026 7.2. September 21, 2026 8. Recently Approved Applications 9. Staff Updates 10. Adjourn MEETING AGENDAS AND PACKETS ARE FOUND AT: WWW.AVON.ORG MEETING NOTICES ARE POSTED AT AVON TOWN HALL, AVON RECREATION CENTER, AVON ELEMENTARY AND AVON PUBLIC LIBRARY INDIVIDUALS WITH DISABILITIES ARE ENCOURAGED TO PARTICIPATE IN ALL PUBLIC MEETINGS SPONSORED BY THE TOWN OF AVON. IF YOU REQUIRE A DISABILITY ACCOMMODATION, PLEASE CONTACT THE COMMUNITY DEVELOPMENT DIRECTOR, MATT PIELSTICKER, AT (970) 748-4413 OR MATT@a AVON.ORG WITH YOUR REQUEST. REQUESTS SHOULD BE MADE AS SOON AS POSSIBLE BUT NO LATER THAN 72 HOURS BEFORE THE SCHEDULED PUBLIC EVENT. TO: Planning and Zoning Commission FROM: Jena Skinner, AICP, Planning Manager RE: PUBLIC HEARING: Avon Community Housing Plan Avon CPA26-001 Comprehensive Plan Amendment DATE: August 7, 2026 C 0 L 0 H A D 0 SUMMARY: This report presents to the Planning and Zoning Commission ("PZC") a Comprehensive Plan Amendment ("CPA") application to modify and or update certain provisions of the Avon Community Housing Plan ("Plan"). The Plan ("Attachment A") is a supplemental document to the Town of Avon Comprehensive Plan. Staff's goal is to replace the existing document in its entirety. As such, a redline of the changes is not proposed as there is too much being affected. The PZC will make a recommendation to Council for the proposed changes. The PZC first heard this Plan at the June 8, 2026, and then on June 22. Versions of the previous Staff Reports and Draft Plan iterations can be found HERE on the avon.org website. DISCUSSION: The PZC thoughtfully reviewed the key discussion points presented by Staff in the previous meeting report of July 13, 2026, which included components for Inclusionary Mitigation, Employee Mitigation, and Short Term Rentals, along with updated to the general plan language. The PZC made a recommendation to Council to approve the plan, with the condition that Staff incorporate, "...stronger language ... to support very low income and low income households as well as environmental and climate justice" prior to proceeding to Council for first reading of the associated Ordinance. Staff added new language with copy to the PZC. In response, Staff received additional and more specific commentary and feedback with additional recommended language beyond what was written by Staff, post meeting. NEW UPDATES: Upon receiving the recommendation from the PZC, Staff added additional language, in response to the PZC recommendation. The following language was added to the plan: Under Objectives Avon has identified the following objectives: 1. Maintain or increase the percentage of year-round residents; currently 56% of all dwelling units in Avon are occupied by year-round residents. 2. Provide affordable housing for lower income households in proportion to the housing needs for various income levels stated in the Housing Needs Assessment. 3. Prioritize available Community Housing funds annually based on funding and partnership opportunities, cost of projects and programs, assessment of specific unmet housing needs, consideration of other residential projects in the Eagle River Valley, and assessment of Avon's capacity to efficiently manage projects and programs. 4. Explore opportunities for additional dedicated funding sources to sustain the Community Housing Fund, particularly through regional partnerships and the formation of a regional housing authority. 5. Increase deed restricted homeownership opportunities with a priority for households making equivalent of 140% or less of the Area Median Income ("AMI") through the Mi Casa Avon, Good Deeds Avon, and other housing programs and regulations. For example, a two -income household earning 140% AMI ($155,000) may be able to afford a home price of $620,000 in 2026. 6. Grow the inventory of homeownership and "missing middle" inventory, in place of additional 970-748-4023 jskinner@avon.org Page 1 of 6 rental housing stock, to create a more balanced portfolio with a long-term goal of more home ownership opportunities. 7. Prioritize price point, focusing on the 80-140% AMI level, as well as finish quality and amenities that are attractive to right -sizing households, when considering new rental development. This includes growing households upsizing their housing and seniors downsizing their housing. 8. Maintain or increase the percentage of Qualified Employees residing in Avon. 9. Partner with other communities, non-profit entities (i.e. Habitat for Humanity, Town of Vail, Eagle County), Private Affordable Housing Developers, and Private employers to financially support new Community Housing projects and programs. 10. Aggressively pursue available grant funding to support Community Housing projects and programs, including public infrastructure improvements that benefit or support Community Housing projects. 11. Achieve environmental and climate action equity to ensure that low income and marginalized communities do not suffer disproportionate impacts or burdens from Community Housing projects, programs and policies. Under Housing Cost & AMI Housing Cost •& •¶ Area -Median income -(AMI)II 2025-Average-Wage:-$52,900-1-2025-Median-Home -Price:-$1,11 ¶Y•2026 -Income -Limits •Summary• — -Eagle -Coun ty(Hl/D}¶ It is important to review the availability of properties that are attainE through the Vail MILS for local residents and evaluate the percentage homes purchased for primary residency in these neighborhoods T were 91 sales in 2025, the median price for all dwelling units sold Town of Avon (excluding Mountain Star) was S1,110,000 Of th sales, 48%were purchased with cash, an indicator that those home w purchased as second homes, investment properties, relocating re rE or for use as short term rentals Condominiums accounted for 7 these sales, with a median price of S864,000 The median price for s family dwellings, duplexes, and townhomes was $2.150,000 household earning 2 average weekly wages makes approxima $105.800 per year This income cannot support mortgage payments any median priced dwelling units in Avon ¶ the e91 of A AMI is used by other local entities as well For instance, Avon partners and contributes to the Walking Mountains Science Center, and through supporting this non -profit's energy programming, they have 'income and community priority qualifications' for certain rebates and incentives for households up to 150%-AMIJI Learn More at ¶ Walking "if Mountains 01 The rental market is similarlychallenging for local residents -Between 200 021, the aver parental rates rose 48%across the Eagle River Valley Vacancy rates have approached zero, ant rental projects have experienced an accelerated cost as compared to increases in the consumer price index Market rate rental projects in Avon have advertised rental rates up to $2,509 fora studio, $3,992 for a 2-bedroom unit. and over$5,397 per month for a 3-bedroom unit, byyear-end2025 With a per bedroom median price of around $1,900, overcrowding and in -commuting are increasingly common ¶ CPA26-001 — Avon Housing Plan August 10, 2026 Page 2 of 6 Under Strategies (before Projects): Housing Needs by Household Incomes The overall mix of Community Housing projects, programs, and policies should provide housing across the household income spectrum in proportion to the housing needs identified in the HNA. Particular attention must be given to the housing needs of lower -income households, who are more vulnerable and are often underrepresented. Evaluation and reporting on the different household income levels served by new Community Housing, compared with the needs stated in the HNA, should occur annually. Consideration should be given to other affordable housing projects in the Eagle River Valley that may serve households at a varietv of income levels. Environmental and Climate EquityM Community Housing projects, programs, and policies should evaluate the potential for disproportionate environmental burdens and impacts on lower -income households and marginalized communities that may result from such housing activities. Evaluation should include proximity to and connection with public transit, public facilities, and amenities; proximity to and connection with grocery stores and neighborhood commercial establishments; inclusion in and integration with existing and adjacent neighborhoods; and the incorporation of inclusive processes designed to increase participation by underrepresented communities. Footnote: I' ]Environmental and climate equity in community housing ensures that marginalized, low-income, and historically redlined communities are not disproportionately burdened by climate change hazards. It involves creating safe, permanently affordable, and climate -resilient housing that reduces carbon footprints while actively improving public health After proposing these edits, Staff received feedback expressing concerns about using stronger language to specifically identify groups with extremely low and low incomes as a priority within the plan. Comprehensive community plans typically identify housing needs along a continuum —from supportive shelter for those experiencing homelessness to workforce rental apartments and market -rate homeownership. Guided by the Housing Needs Assessment, Avon wishes to emphasize in this plan a commitment to addressing housing needs across the entire economic spectrum, rather than focusing solely on a single income bracket. This approach recognizes the importance of every housing group and values each as essential to the community. While individuals and families with the lowest incomes often face greater challenges and may require more support from government programs and non -profits, Avon is dedicated to considering the needs of all AMI levels, understanding that every income group contributes to the town's economic, social, and overall well-being. Rather than prioritizing one income level over another in this generalized plan, Avon aims for an inclusive strategy. However, in future projects or at the regional level, it may be appropriate to focus more specifically on certain AMI levels. Should Avon, Eagle County, and other jurisdictions form a Regional Housing Authority, there may be expanded opportunities for housing programs that address a broader range of needs. Staff has chosen to keep the language within the Plan general, providing guidance while allowing flexibility for Avon's housing efforts. This approach supports pursuing funding for projects that are both practical and feasible. The following example demonstrates how the Plan's language can maintain a focus on supporting more vulnerable groups while remaining adaptable: CPA26-001— Avon Housing Plan August 10, 2026 Page 3 of 6 Examples of Best Practice Language Specific Phrasing New/Best Practice Phrasing Why it Works "Housing for the extremely low-income" "Housing options for all stages of life" Normalizes housing transitions. "Affordable housing project" "Mixed -income community investment" Emphasizes neighborhood growth. "Subsidized or vulnerable "Our local workforce and seniors" Connects residents to their residents" community roles. "Low-cost apartments" "Attainable and diverse housing types" Focuses on design and accessibility. If the PZC feels that additional language is necessary, Staff requests that the PZC decide on a recommendation with specific language if different from what is proposed. RECOMMENDED FINDINGS: GENERAL CRITERIA FINDINGS: 1. The development application is complete. 2. The development application provides sufficient information to allow the reviewing authority to determine that the development applications comply with the relevant review criteria. The development application complies with the goals and policies of the Avon Comprehensive Plan; and 4. The demand for public services or infrastructure exceeding current capacity does not require mitigation at this time as there is no development application accompanying this Comprehensive Plan Amendment that results in a physical project that utilizes public services or infrastructure. COMPREHENSIVE PLAN FINDINGS: 1. The proposed Plan amendment is compatible with the goals and policies of the entirety of the Avon Comprehensive Plan while recognizing that Avon's unique housing goals, policies, and community housing needs have evolved, requiring this update. 2. This amendment complies with the Review Criteria outlined in Section §7.16.030(c) of the Development Code and offers increased support for Community Housing efforts and good planning by the Town of Avon. 3. The proposed Plan provides guidance for planned and orderly use of land and in encouraging a high quality of place for the community; and 4. The proposed amendment promotes the health, safety, and welfare of the Avon Community by supporting coordinated development using a tool like the Housing Plan for its long term vision. CPA26-001— Avon Housing Plan August 10, 2026 Page 4 of 6 OPTIONS: The PZC has the following options with the Application: Recommend Approval of the Plan, as drafted Recommend Approval of the Plan, with changes Continue the Public Hearing to a specific date STAFF RECOMMENDATION: I recommend the Planning and Zoning Commission provide specific recommendations on the Plan to Council, if this group feels it is appropriate to expand the language as presented. TOWN MANAGER COMMENTS: I appreciate the concern for low-income households and environmental and climate equity that Planning and Zoning Commissioner Waters seeks to emphasize. Jena and I propose revisions that we believe appropriately capture those concerns for a planning document. In my opinion, the additional language revisions proposed by Commissioners Waters is too specific and prescriptive which can be read as prioritizing low-income household levels over other household income levels. In some instances the proposed revisions pull in additional language from the Regional Housing Needs Assessment which Jena and I believe is best referenced generally in Avon's Community Housing Plan document. My specific concerns with the proposed additional revisions include the following: (1) In my experience, plan language which is too specific or prescriptive can result in debates that a proposed project or program is "not incompliance with the plan". (2) Avon does not have the financial resources to provide housing in the 30% to 80% AMI range at the volume of residences proposed. There is potential and pending efforts to create more dedicated funding sources regionally, but it does not exist today. (3) Realization of specific Community Housing projects will depend upon the financial resources and costs and interested partners at the time that projects occur. Required public subsidies are significant for any Community Housing project at all income levels. (4) The concepts of environmental and climate equity are based on the fair treatment of all people; however, in my opinion, there is not substantive environmental or climate inequity in Avon like there is in urban areas or inequity which occurs internationally that has given rise to these principles and considerations. Avon has adopted policies that new Community Housing projects must be all - electric net zero and Avon is an active participant and financial supporter of weatherization programs that support low-income households. RECOMMENDED MOTION: `7 recommend Council approve the proposed Avon Community Housing Plan update based on the findings presented in Staffs report." Thank you, Jena ATTACHMENT A: Proposed Avon Housing Plan Update ATTACHMENT B: Comments from PZC Member CPA26-001— Avon Housing Plan August 10, 2026 Page 5 of 6 LINKS: JULY 13.2026. REPORT JUNE 22, 2026, REPORT JUNE 8, 2026, REPORT EXISTING AVON COMMUNITY HOUSING PLAN AVON HOUSING WEBSITE HOUSING NEEDS ASSESSMENT AVON MUNICIPAL CODE TITLE 7 CPA26-001 — Avon Housing Plan August 10, 2026 Page 6 of 6 ATTACHMENT A Avon Community Housing Plan 2026 t# — . - Heart of the Va-IIey - s Table of Contents Introduction....................................................................................................................................................................1 Goals.............................................................................................................................................................................. 2 Objectives......................................................................................................................................................................2 Demand.........................................................................................................................................................................4 Housing Cost & Area Median Income (AMI)..................................................................................................................6 Strengths& Assets.........................................................................................................................................................8 TheAspens: Community Preservation.........................................................................................................................16 AppendixA: Housing Projects......................................................................................................................................18 Appendix B: Implemented Community Housing Strategies..........................................................................................30 AppendixC: Incomes...................................................................................................................................................32 AppendixD: Definitions & Best Practices....................................................................................................................33 Appendix E: Housing Needs Analysis..........................................................................................................................35 Approved by Town Council Ordinance [INSERT NO] Introduction The Avon Town Council recognizes the severe lack of affordable housing opportunities in the Eagle River Valley. Reasonably attainable and available housing opportunities are critical for Avon to maintain its authentic town character and to support the current and next generation's participation in the Avon community. Workforce housing is necessary to support the many businesses located in Avon that create Avon's vibrant character. A variety of Community Housing types to meet residents at a variety of life stages and income levels is necessary to retain a sense of community. The Avon Community Housing Plan is an extension of the Avon Comprehensive Plan. It provides a high level overview of the housing supply and demand conditions in Avon, at a point in time, and defines goals and strategies to address the needs and demands contained within. The Eagle River Valley Housing Needs Analysis ("HNA"), a comprehensive report also conducted periodically, provides in-depth, detailed information on the economic and social factors comprising those housing conditions in Eagle County. The Avon Community Housing Plan uses information from the HNA to form its goals and strategies. The Town of Avon Comprehensive Plan provides Avon overarching guidance for the entire town Extensions of the Comprehensive Plan ' • Community Three -Mile Housing Plan Plan Sun Road East Town Redevelopment Center Sub -Area Plan Plan Plans Authority Urban West , wn Plans Renewal Center Plan (URA) Investment Plan (WTC) Associative Plans Town Owned Properties Harry A. Nottingham Park Plan Sustainability Plan Walkability Plan Multimodel Transportation Plan Climate Action Plan EV Readiness Plan EC Community Wildfire Protection Plan This 2026 Avon Community Housing Plan updates the prior 2021 Plan by recognizing the successes and accomplishments over the last five years while acknowledging the ongoing challenge of meeting the housing needs of the Avon Community. This 2026 Plan defines the Community Housing goals, objectives, plans, and strategies for the Town of Avon over the next several years. "Avon's vision is to provide a high quality of life, today and in the future, for a diverse population; and to promote their ability to live, work, visit, and recreate in the community." -TOWN OF AVON COMPREHENSIVE PLAN Page 1 of 35 The potential community benefits of increasing Community Housing efforts include: • More housing choices; • Increased economic stability and a more active year-round economy for local residents and businesses; • Greater ability to retain individuals and families throughout life and career phases, strengthening the sense of community, opportunity, and quality of life; • Increase Community Housing supply for job recruitment and retention purposes; • Create Community Housing in closer proximity to job centers with pedestrian connections and transit, in alignment with the Climate Action Plan goals; and • More full-time residents to sustain arts, culture, social, and recreational activities. Goals Avon has identified the following goals: Goal 1: Achieve a diverse range of housing densities, styles, and types, including rental and for sale, to serve all segments of the population. Goal 2: Coordinate with neighboring communities to provide and financially support an attainable housing program that incorporates both rental and ownership opportunities, affordable for local households. Goal 3: Provide and support Avon's share of Community Housing units as identified in the 2025 Eagle County Regional Housing Needs Analysis by 2035. Objectives Avon has identified the following objectives: 1. Maintain or increase the percentage of year-round residents; currently 56% of all dwelling units in Avon are occupied by year-round residents. 2. Provide affordable housing for lower income households in proportion to the housing needs for various income levels stated in the Housing Needs Assessment. 3. Prioritize available Community Housing funds annually based on funding and partnership opportunities, cost of projects and programs, assessment of specific unmet housing needs, consideration of other residential projects in the Eagle River Valley, and assessment of Avon's capacity to efficiently manage projects and programs. 4. Explore opportunities for additional dedicated funding sources to sustain the Community Housing Page 2 of 35 Fund, particularly through regional partnerships and the formation of a regional housing authority. 5. Increase deed restricted homeownership opportunities with a priority for households making equivalent of 140% or less of the Area Median Income ("AMI") through the Mi Casa Avon, Good Deeds Avon, and other housing programs and regulations. For example, a two -income household earning 140% AMI ($155,000) may be able to afford a home price of $620,000 in 2026. 6. Grow the inventory of homeownership and "missing middle" inventory, in place of additional rental housing stock, to create a more balanced portfolio with a long-term goal of more home ownership opportunities. 7. Prioritize price point, focusing on the 80-140% AM] level, as well as finish quality and amenities that are attractive to right -sizing households, when considering new rental development. This includes growing households upsizing their housing and seniors downsizing their housing. 8. Maintain or increase the percentage of Qualified Employees residing in Avon. 9. Partner with other communities, non-profit entities (i.e. Habitat for Humanity, Town of Vail, Eagle County), Private Affordable Housing Developers, and Private employers to financially support new Community Housing projects and programs. 10. Aggressively pursue available grant funding to support Community Housing projects and programs, including public infrastructure improvements that benefit or support Community Housing projects. 11. Achieve environmental and climate action equity to ensure that low income and marginalized communities do not suffer disproportionate impacts or burdens from Community Housing projects, programs and policies. Moderate Middle Income Income • Low ' Upper Middle Income Income • 33% 10� • 27%Very Low S9 i Income ��StpfEED' MOSTgHigh ch/,I- - ���J. ' ' Income 1458 HOMES NEEDED BY 2035* ° *2025 Housing Needs Assessment TOWN OF AVON o SPECTRUM OF HOUSING NEEDS (2026) Page 3 of 35 Demand Free market real estate values and rents have escalated faster than wage growth over the last 15 years, especially during the COVID-19 pandemic, resulting in a severe shortage of reasonably attainable and available housing. As of 2025-2026, a significant shortage of affordable housing persists as housing costs have substantially outpaced local wages. Renters and low- to median -income households are frequently cost -burdened or severely cost -burdened, with many spending more than 50% of their income on housing. • Across numerous regions, median rents and home prices have increased at a rate surpassing that of average incomes. In Eagle County, survey and focus group participants reported that rents were consistently between $1,500-$2,000 per bedroom. That translates over 3 median wages needed to rent a 3 bedroom unit priced at $4,500 or more. Wages: Eagle County's 2026 Area Median (Household) Income is $111,000, while the per COLORADO HOUSING MARKET vs. WAGE GROWTH (Last 15 Years) Free Market Real Estate Values or Median Rents or THE RDABILITY GAP Median Wage Growth capita income is just over $62,0001. . Surging Home Prices: The median home sales price in Eagle County (excluding resort areas) was $1,060,863 by YE 2025. Avon alone experienced a median sales price of $1,110,000 during that same time period. Extreme Affordability Gap: The Affordability gap compares the mortgage an average household can afford with the median home price. As of 2026, the average 2-income household can afford approximately a $444,000 home, compared with the YE 2025 median -priced home in Eagle County at $1,060,863. This leaves an Affordability Gap of $616,863. High Costs vs. Low Wages: In this resort community, the majority of the county's largest volume of professions (including hospitality, retail and food service) offer salaries below $40,000 per year. Rental Market Distress: Rental rates increased by 48% between 2007 and 2023, with studios (700- 900 sq ft) costing up to $2,500 by YE 2025. Supply Shortage: The 2025 Eagle County Regional Housing Needs Analysis identified a need for 6,375 affordable housing units across Eagle County, within 10 years to meet the current demand. Avon's share of that shortage is 1,458 units. I AMI is the accepted metric and does not always accurately reflect true wages of local workers. There is no alternative metric that removes part-time resident income from AMI. Page 4 of 35 Emergency Shelter Transitional Housing Supportive Housing Ownership - Market Rent - Income Ltd. Restricted Rental Income Ltd. Restricted Ownership Market Rental Ownership Prevention, Rapid Housing Supportive / Community Housing Community Housing Community Housing Diversion Shelter Scattered Capital, Grants / Capital, Grants / Loans, Subsidies Loans, Subsidies , 0-30%AMI 30-60%AMI 60-120%AMI 60-80%AMC 80-14 AO/ M Partner Organizations: Federal Program Government Involvement: -in Eagle County Homeless Services I Catholic Charities I LIHTC I HUD Public / Private Partnerships J Habitat for H � Salvation Army I Bright Future Foundation USDA Avon Community Housing Projects "Housing Continuum" Illustration for Eagle County (Generally) Factors Driving the Housing Crisis: ♦ Second Home Market: Over 31 % of housing units in the county are used by part-time residents or are vacant. In Avon, 44% of housing units are vacant or used by part-time residents. ♦ Desirability: The high quality of life attracts remote workers, second homeowners and relocating retirees who can afford prices higher than what local service -based workers can afford, increasing the competition and demand for the limited housing stock available. ♦ Geography & Land Limits: Limited buildable land restricts the supply, further driving up costs. Couple that with a lack of Town -owned land and topographically challenging sites, the results for new construction rely on market price land costs with extremely expensive construction costs, adding to the cost gap between building new units and their affordability to locals, without extreme subsidy. The lack of Community Housing is creating the following challenges: ♦ Employers struggle with unfilled positions, increased turnover, higher training costs, and lost productivity, especially with long-term management positions; ♦ Continued increase in home prices that are well beyond the financial means of most local residents; ♦ Loss of historically affordable purchase options or long term rental availability due to short term rental (STR) use, second home use, and retirees relocating to Eagle County; ♦ Extremely low vacancy rates in rental markets, resulting in limited choices and rising costs for renters; ♦ Negative socio-economic impacts on individuals and families, who are spending a disproportionate amount of their income on housing, commuting long distances, and living in locations or situations that are not sustainable for the long term; ♦ Lack of opportunities for returning local family offspring who grew up in Eagle County to secure housing in the place they consider home. ♦ Lack of opportunities are forcing many renters who wish to buy a home, or persons with expanding families, to move away from the area to find more affordable options. Page 5 of 35 Housing Cost & Area Median Income (AMI) 2025 Average Wage: $52,900 12025 Median Home Price: $1,110,000 FY 20261ncome Limits Summary — Eagle County (hLQD It is important to review the availability of properties that are attainable through the Vail MLS for local residents and evaluate the percentage of homes purchased for primary residency in these neighborhoods. There were 91 sales in 2025, the median price for all dwelling units sold in the Town of Avon (excluding Mountain Star) was $1,110,000. Of those 91 sales, 48% were purchased with cash, an indicator that those homes were purchased as second homes, investment properties, relocating retirees, or for use as short term rentals. Condominiums accounted for 78% of these sales, with a median price of $864,000. The median price for single family dwellings, duplexes, and townhomes was $2,150,000. A household earning 2 average weekly wages makes approximately $105,800 per year. This income cannot support mortgage payments for any median priced dwelling units in Avon. AMI is used by other local entities as well. For instance, Avon partners and contributes to the Walking Mountains Science Center, and through supporting this non -profit's energy programming, they have "income and community priority qualifications" for certain rebates and incentives for households up to 150 % AMI! Learn More at Wallcing Mountains The rental market is similarly challenging for local residents. Between 2007 and 2021, the average rental rates rose 48% across the Eagle River Valley. Vacancy rates have approached zero, and recent rental projects have experienced an accelerated cost as compared to increases in the consumer price index. Market rate rental projects in Avon have advertised rental rates up to $2,509 for a studio, $3,992 for a 2-bedroom unit, and over $5,397 per month for a 3-bedroom unit, by year-end 2025. With a per bedroom median price of around $1,900, overcrowding and in -commuting are increasingly common. To meet the needs of local employees in the Eagle River Valley, the 2025 Eagle County Regional Housing Needs Analysis estimates that 6,375 additional dwelling units will be required by 2035. In the "mid -valley", which includes EagleVail, Avon, and Edwards, 2,586 dwelling units will be needed to accommodate the net loss of affordable housing units and projected population and job growth. In Avon alone, that need is 1,458 units, or about 25% of the regional need. It is anticipated that subsidies or public/Private partnerships will be required to make it financially feasible to construct or preserve a majority of these dwelling units. Avon and the rest of the "mid -valley" are highly desired locations for local residents. The community survey of Eagle River Valley households, conducted along with the Eagle County Regional Housing Needs Analysis, found that 53% of renters and 42% of owners selected "mid -valley" as their first choice for place to live. Page 6 of 35 Job Centers Map — Housing Needs Assessment The concentration of employment and job centers in the upper -valley and mid -valley areas of the county poses specific challenges. The narrow valley floor surrounded by federally protected lands has been developed for the most part. The remaining parcels identified for new development have challenging terrain (sloped, narrow, asymmetric). Avon is also identifying areas for redevelopment and strategizing which of its parcels to reclassify for housing redevelopment. Both options add considerable cost to construction and are factors in the higher AMI limits suggested for Eagle County, especially for Avon. Page 7 of 35 Strengths &Assets Avon can build upon existing assets and previous housing initiatives, including: ♦ Implementation of the Mi Casa Avon Resident Occupied deed restriction purchase program, with 56 units added between 2020 and 2025. ♦ Partnership with Eagle County for Good Deeds Avon Price Capped deed restriction purchase program, with 10 units added since its inception in 2025. ♦ Updates to the Avon Community Housing Policies to stay current with industry best practices and changing market conditions. ♦ Several large-scale Town -sponsored rental projects in the 1990s and 2000s, resulting in an inventory of 544 income restricted or price capped units, ♦ 63 deed restricted for sale units that were a result of successful PUD negotiations; ♦ Establishment of a Community Housing Fund with dedicated revenue sources; ♦ Employee Housing Mitigation requirements for new development; ♦ Continued planning, zoning and land acquisition efforts to create more opportunities for new Community Housing development; ♦ History of regional collaboration with public sector, non- profit and Private sector on housing issues; ♦ Adopted Community Housing tax and fee waiver incentives; ♦ Adopted a restricted Short Term Rental Overlay District; ♦ The commitment to building Community Housing that meets Climate Action initiatives; ♦ Amended the Commercial -Industrial Zone District to allow deed restricted Community Housing; and ♦ Adopted Comprehensive Plan, which sets housing as a top policy priority. Avon For Immediate Release I Apnl 17, 2025 Town of Avon and Eagle County Housing and Development Authority Partner to Expand Good Deeds Program Avon, CO — The Eagle County Housing and Development Authority (ECHDA) is excited to announce the rollout of Good Deeds Phase II, a significant expansion of the Good Deeds program, which was launched in 2021 to address the rising cost of housing in Eagle County. With median home sales prices now hovering at $1.6 million, Phase II es increasthe progmm's Maximum Purchase Price from $850.000 to $1.25 million, providing greateraccess to homeownership while preserving long-term housing affordability for kcal residents. In addition to increasing the maximum purchase price, Phase II introduces the Community Partner Program, a collaborative initiative aimed at increasing funding and support for homeownership in Eagle County. Through this program, ECHDA will partner with communities and organizations to provide additional resources for affordable housing. Community Partner Program Through the Community Partner Program, ECHDA will make a payment equal to 15% of the purchase price of an eligible property, with an additional 15% payment provided by the partnering organization. This combined 30% investment, capped at $375,000, makes horroownership mom attainable for local residents and the workforce while ensuring accessible homeownership opportunities for generations to come. This program is exclusively available for open market properties in Eagle County and utilizes Price Capped Deed Restrictions to ensure long-temn affordability for locale. 'The success of the Eagle County Good Deeds program has been beyond our wildest imaginations. We are so happy to be working closely with the Town cf Awn on this next phase of the program to make the pot even sweeter for homebuyers. Locals, start shopping lodayt' mid Kim Bell Williams, Executive Director for the Eagle County Housing and Development Authority, Good Deeds Avon In collaboration with ECHDA, the Town of Avon launched Good Deeds Avon to I%Oviue its residents within Ann's jurisdictional boundaries an additional 15% toward the purchase price of eligible properties, matching ECHDA's payment This partnership, which mirrors this structure of the newy created Community Partner Program, provides Avon residents with a combined 30% buy down on eligible properties, making homeownership as attainable and accessible. We cannot have a stable and healthy community without community housing" said Avon Mayor Tamm Nottingham Underwood "We cannot build our way out of this housing crisis. An effective housing program wll require both new construction and acquisition of deed resinctions on existing housing stock' d Deeds Phase II Highlights Open to Eligible Households throughout Eagle County 3r.vere must -so the o-ope�ty as their primary ms—� Page 8 of 35 Strategies Avon seeks to provide over 1,000 new Community Housing units by 2036 through a combination of construction of new Community Housing projects, continuation of successful Community Housing programs and implementation of targeted Community Housing policies. The summary of opportunities indicates the potential to provide 1,000+ new Community Housing units if new revenue sources and financial partnerships can support and accelerate construction projects, and support and expand deed restriction purchase programs. Avon's Community Housing strategies are intended to constitute and implement a "Housing Action Plan" as required by the Department of Local Affairs. Projects, Policies and Programs are each discussed separately below. This Community Housing strategy is heavily weighted towards increasing ownership opportunities. Avon has an anticipated target to attain a range of new Community Housing comprised of 65-75% ownership opportunities and 25-35% rental opportunities. The preference is to provide the maximum amount of 80- 100% AMI rental opportunities and 100-140% AMI ownership opportunities; however, the actual Community Housing AMIs will depend upon available financial resources and the economics of each project. New Community Housing rental projects are expected to be at or below 110% AMI, while new Community Housing ownership projects may have a greater mix of Resident Occupied units without an appreciation cap on resale. Housing Needs by Household Incomes The overall mix of Community Housing projects, programs, and policies should provide housing across the household income spectrum in proportion to the housing needs identified in the HNA. Particular attention must be given to the housing needs of lower -income households, who are more vulnerable and are often underrepresented. Evaluation and reporting on the different household income levels served bV new Communitv Housina. comaared with the needs stated in the HNA, should occur annuallv. Consideration should be given to other affordable housin variety of income levels. Environmental and Climate Equity' in the Eaale River Vallev that may serve households at a Community Housing projects, programs, and policies should evaluate the potential for disproportionate environmental burdens and impacts on lower -income households and marginalized communities that may result from such housing activities. Evaluation should include proximity to and connection with public transit, public facilities, and amenities; proximity to and connection with grocery stores and neighborhood commercial establishments; inclusion in and integration with existing and adjacent neighborhoods; and the incorporation of inclusive processes designed to increase participation by underrepresented communities. 1 Environmental and climate equity in community housing ensures that marginalized, low-income, and historically redlined communities are not disproportionately burdened by climate change hazards. It involves creating safe, permanently affordable, and climate -resilient housing that reduces carbon footprints while actively improving public health. Page 9 of 35 Projects The following table lists Community Housing projects over the next ten years. Projects that are shown as "RO" or "Resident Occupied" may include some mix of price -capped units offered for sale at a lower price point meeting the 100-140% AMI demand, depending upon the availability of funds. The details of each project may evolve based on available financial resources and Community Housing demands. Each project is discussed in more detail in Appendix A. Appendix A may be updated when determined Pending/New Construction Community Housing Projects R = Rental, 0 = Ownership, PC = Price Capped, RO = Resident Occupied (no price cap) Project Name Units Type AMI Developer Land Ownership Hidden Valley Estates 54 0-RO N/a Private Private CH2: Avondale Apartments 40 R-PC 110% Public TOA CH1: Lot 8-PA-E 24 0-PC 120% Public TOA State Land Board: Parcel 1 104 R-PC 100% Public/Private Public 91 Beaver Creek Place 20 0-RO N/a TBD TOA Slopeside 106 R-PC 100% Public TOA Wildwood Annex 12 0-PC 120% Public TOA Sun Road Redevelopment 100 0-RO N/a Public/Private Public/Private East Avon Preserve 100 0-TBD N/a TBD TOA Village Community Housing 80 0-RO N/a Private Private Village Community Housing 110 TBD 120-140% TBD Private TOTAL 750 Total New Rental 250 Total New Ownership 500 GO TO APPENDIX A: HOUSING PROJECTS AvonAvon Housing Programs • Click on link above for Program Definitions Programs Deed Restriction purchase programs have significant advantages because they do not require new land and construction, which can be polarizing. They also do not require the cost, complexity and timeframe of new construction projects. They provide significant flexibility in allowing a home buyer to shop and choose the home that best meets their needs and preferences. Deed Restriction purchase programs provide a significant financial contribution to assist a home buyer with the purchase of an existing home and requires the execution of a Deed Restriction which permanently restricts the use of the resident to full-time residents working in Eagle County. Avon currently supports three deed restriction purchase programs to assist new home buyers, including: Page 10 of 35 iMi Casa Avon! provides a 12% match up to a maximum of $150,000 for a Resident Occupied Deed Restriction, which does not have an appreciation cap on the resale price. Goods Deeds Avon provides a 30% match in partnership with Eagle County up to a maximum of $375,000 for a Price Capped Deed Restriction, which limits the price appreciation on resale. This is contingent upon annual appropriations from Eagle County. MEHOP or Municipal Employee Housing Ownership Program provides a 30% match to Town of Avon employees up to $375,000 for a Price Capped Deed Restriction, which limits the price appreciation on resale and requires the resale to be to a Town of Avon employee or to the Town of Avon. Programs (Deed Restriction Purchases) Annual 10 Years Mi Casa Avon 8 80 Good Deeds 16 160 MEHOP 2.5 25 TOTAL 27 265 Policies ■ Mi Casa Avon ■ Good Deeds ■ MEHOP Policies include regulations in the Avon Municipal Code that establish requirements to provide Community Housing, such as employee housing mitigation and inclusionary zoning, and incentives to provide Community Housing, such as Development Bonuses and tax and fee waivers. Policies also include existing and new dedicated revenue sources to support Community Housing. Existinq Development Policies: The following Development Policies address planning, land use and development and are currently adopted and in effect: 1. Allowing Community Housing in all zone districts.' 2. Expediting and prioritizing review of Community Housing development applications.' 3. Employee Housing Mitigation to mitigate 20% of the employee housing demand created by a new development. 4. Tax and Fee waivers for Community Housing projects.' 5. Short Term Rental regulations that limit or prohibit short term rental licenses in designated areas of Avon. Short Term Rental use is monitored throughout Avon and is periodically assessed.' 6. Development Bonus process to allow greater building height, greater site coverage, reduced parking and reduced setbacks for Community Housing.' 'Meets DOLA's Housing Action Plan Standard Affordability Strategies, Long Term Affordability Strategies, and/or Displacement Mitigation Strategies. Page 11 of 35 7. 3-Mile plan that identifies the State Land Board property as eligible for annexation and planned for 100% of residential units to be zoned and developed for Community Housing.' 8. Seek collaboration and partnership with Eagle County, Town of Vail, Habitat for Humanity and other local government, non-profit and private sector regional partners. Based on existing Development Policies the following projection is provided for new Community Housing units that would result from new development: Policies Annual 10 Years Employee Mitigation/Dev Bonus/Inclusionary 5* 50 TOTAL 5 50 *Average Existing Revenue and Funding Policies: The following revenue and funding policies are currently adopted and in effect. 1. 2% Short Term Rental Excise Tax is dedicated to the Community Housing Fund.' 2. 10% of Avon's 2% Real Estate Transfer Tax is dedicated to the Community Housing Fund., 3. 4% Use Tax on Construction Materials is dedicated to the Community Housing Fund, subject to the prior agreements in the Village (at Avon) to remit the Use Tax revenue to Traer Creek Metropolitan District until such time as the Town of Avon has satisfied its tax credit obligations. 4. Avon Downtown Development Authority is required to spend at least 50% of tax increment revenue on Community Housing.' 5. Council may consider and approve expenditures from the unrestricted General Fund reserve balance to support land acquisition and construction of Community Housing projects.' 6. Avon has "Opted -In" to Colorado's Proposition 123 program, which makes Avon potentially eligible for state grants. Avon has applied for a waiver to allow Proposition 123 funding to be applied toward projects that serve up to 110% AMI.1 New Development Code and Planning Policies to Promote Community Housing: New policies described below are not formally adopted by this Avon Community Housing Plan; rather, these policies are identified as appropriate for research and analysis by Council, appropriate citizen committees, the development community, and the general public through work sessions and public hearings. These policies for new residential development seek to maximize the percentage of Community Housing in new residential development to the extent economically and legally feasible. The Village (at Avon) Planned Unit Development has vested property rights which limit the applicability of new development policies that require increased Community Housing. Employee Housing Mitigation: Consider increasing the required mitigation from 20% to 30% and reduce the maximum rent or sales price from 120% to 100% AMI. The purpose of this policy is to increase the number of Employee Housing Mitigation Units required by new development and to require such units to be more affordable. Clarify the Employee Housing Mitigation regulations to state that Community Housing units are not included in the Employee Housing Mitigation calculation. 1 Meets DOLA's Housing Action Plan Standard Affordability Strategies, Long Term Affordability Strategies, and/or Displacement Mitigation Strategies Page 12 of 35 Inclusionary Zoning2*: Consider adopting an Inclusionary Zoning requirement for the Town Core which requires up to 50% of new residential units to be Community Housing. Employee Housing Mitigation units that are required would be credited towards the required Community Housing allotment. The purpose of this policy is to increase Community Housing units in the mixed -use center of Avon where water rights exist to support increased density and increased density can be most efficiently served with existing public infrastructure. 3-Mile Plan Annexations: Consider revisions to the 3-Mile Plan to include language which identifies the desired and appropriate percentage of Community Housing units with new annexations that include residential development. The purpose of this policy is to maximize the percentage of new residential units associated with annexations in the 3-Mile Plan to the extent economically feasible. New Revenue Policies for Consideration: 1. Seek potential new funding sources through the adoption of a Regional Housing Authority. Such revenues sources may include a Sales Tax, Use Tax, Property Tax and/or other revenue sources.' 2. Explore an increase to the Short Term Rental Tax based on review of peer communities. 3. Support uniformity of dedicated taxes for Community Housing across different local government jurisdictions in Eagle County.*3 4. Explore options to allow voter approval of new taxes dedicated to Community Housing through the state legislative process.' 5. Strive to increase the portfolio of affordable rental properties that generate positive cash flow which can then financially support each other and provide financial leverage to support future development of additional affordable rental properties.' 6. Discontinue the annual transfer of 10% of Avon's 2% Real Estate Transfer Tax (RETT) revenues when new dedicated revenues for Community Housing are established. Avon's anticipated capital improvements needs to maintain and construct public infrastructure for the next decade and beyond exceeds available RETT revenue. Ten Year Community Housing Goal The total Community Housing goal for the next ten years is summarized below. Fully implementing the projects and programs identified in this Plan will require additional financial resources. SUMMARY next 10 years Projects 750 Programs 265 Policies 50 TOTAL 1065 ■ Projects ■ Programs Policies ■ TOTAL 2 Inclusionary zoning is a municipal or county regulatory policy that requires or encourages real estate developers to set aside a specific percentage of newly constructed residential units for low- to moderate -income households. It is designed to create mixed - income communities and counteract exclusionary housing practices. 3 Meets DOLA's Housing Action Plan Standard Affordability Strategies, Long Term Affordability Strategies, and/or Displacement Mitigation Strategies Page 13 of 35 Future Community Housing Projection Future Community Housing beyond ten years is more speculative for planning purposes. The following potential opportunities are identified below. Additional Community Housing opportunities may arise through land acquisitions and public -Private partnerships. FUTURE - Long Range 10-20 years Project Name Units Type AMI Developer East Town Center Redevelopment 240 O-RO N/A TBD North River Parcel 200 O-RO N/A TBD State Land Board Parcels 396 TBD TBD TBD Forest Service (adjacent to North River) 100 O-RO NA TBD TOTAL 936 Page 14 of 35 Investment Guidelines Avon must invest limited financial resources wisely to meet the goals of this Community Housing Plan. The Town recognizes that Community Housing development opportunities are often specific and unique to an available property, potential partnerships, and financial parameters set by state and federal agencies; therefore, differences are expected between creating ideal projects that clearly meet all frameworks with the construction cost realities surrounding possible projects. This reality results in Community Housing programs and projects that may not be able to meet all the goals (next page). Rather, the following is intended to assist with the evaluation of proposed programs and projects. This list is not intended to be exhaustive, and additional considerations may be relevant. ♦ Ensure that all Community Housing programs, policies, or projects align with the goals and objectives of the Comprehensive Plan and the Community Housing Plan. ♦ Use Town of Avon investment in projects to bridge the financial gap between free market conditions and Community Housing economics, enabling programs or projects to move forward. ♦ Encourage or incorporate resource conservation, energy efficiency, sustainable development, and climate action goals in programs or projects, as financially feasible. ♦ Select locations for programs or projects that offer reasonable access to public services and amenities supporting full-time residential use, such as schools, parks, trails, transit, multi -modal transportation, job centers, neighborhood businesses, and other public services. ♦ Attract and utilize financial participation from partners, including local governments, state and federal sources, non -profits, and Private investors, for each program or project. ♦ Ensure that each program or project positively leverages the Town of Avon's financial investment. non No an 88 on IS on Page 15 of 35 THE ASPENS: COMMUNITY PRESERVATION Avon recognizes the importance of manufactured home communities, which offer a rare combination of density and affordability essential to Avon. Manufactured home communities (MHCs) provide residents with relatively affordable housing in the valley, and Avon is committed to preserving this option and supporting its residents. However, this is challenging because the land is privately owned and lacks protective covenants to ensure long-term preservation. Manufactured homes typically last 30 to 50 years. Without regular maintenance and energy efficiency upgrades, these homes are less resilient to extreme weather and consume more energy. Replacing older units is costly and technically challenging. Avon needs programs to preserve this vital affordable housing, starting by acknowledging the significance of the Aspens community, and the need for its preservation. Preserving manufactured home parks in Colorado usually involves a combination of legislative protections and local government action to address rising land values and private equity redevelopment. Since mobile homes are often permanent structures on rented land, these communities are vulnerable to displacement and predatory rent increases. As land becomes scarcer, affordable sites risk being converted into luxury developments. Page 16 of 35 POSSIBLE PROTECTIVE PATHWAYS 1. Encourage The Aspens to Form a Resident -Owned Cooperative Avon should encourage the Aspens to consider becoming a Resident -Owned Cooperative (ROC) which transitions a park into a Resident -Owned Community — a priority standard for long-term preservation. Colorado law grants residents the "right of first refusal," requiring park owners to give homeowners notice of a pending sale and an opportunity to match third -party corporate offers. Non- profits like Thistle Communities and ROC USA step in to help communities organize, navigate multi- million dollar real estate transactions, and secure low -interest financing. Avon could require by code that park owners must provide ample public notice (e.g., 90 to 180 days) to residents and local municipalities before putting the park on the market. 2. Public Purchase Under Colorado state law, park residents can assign their statutory right of first refusal to a local housing authority, non-profit housing provider, or land trust. Avon has a Housing Authority that could be used for this purpose. Avon could also codify the right for local housing authorities, municipalities, or resident -owned cooperatives to match offers to purchase the land, preventing sudden sell -offs to corporate developers. Local housing authorities occasionally purchase parks outright to assume immediate management, stabilize rents, and absorb the initial infrastructure risks before eventually transitioning control back to the residents. 3. Regulatory Protections — Avon Municipal Code With State mandates requiring landlords who plan to close or rezone a park for redevelopment to financially compensate displaced tenants for their relocation costs, Avon could also require the loss of density and affordability be a condition of rezoning any zone district. This can be done by creating a zoning overlay that restricts the land from being turned into luxury or traditional apartment complexes without mitigation, or a new anti -displacement of Community Housing provision where any loss of Community Housing shall require replacement of the units lost, maintaining the same AMI levels as was in place prior to redevelopment. Outside of the Avon Community Housing Plan, the foundational Comprehensive Plan can be updated to create a specific district for the Aspens that goes beyond its affordable housing values to recognize and memorialize it as a distinct planning area. This new district may include design aspirations and future planning goals as they relate to maintenance, preservation and general land use. .... . SEE .... .... .. . ■■ � ■■ ■■ �� a ■■ � ■■ ■■ on I- some■■ on ■■ ■■ on Page 17 of 35 APPENDIX A: HOUSING PROJECTS Community Housing Projects Appendix A - Describes specific new construction opportunities for Community Housing projects. Each potential project is described on its own page which includes a basic description of the property, project goals, infrastructure and entitlements. Page 18 of 35 AVON NORTH Wildwood Annex Legal Description: WILDRIDGE SUBDIVISION Tract: N Wildwood Road Area in yellow is the developable portion of Tract N Property Size 1.0 Acre Zoning Wildridge PUD — Public Facility Designation Ownership Town of Avon Project Goals 12 three -bedroom condominiums, Ownership Infrastructure Extension of water and sewer to serve this property is required for development. Entitlement Development approval requires an amendment to the Wildridge Planned Unit Development to change the PUD Public Facility designation to an appropriate Community Housing zone district designation, subdivision to create the specific development parcel, and Avon voter approval to authorize the sale of the Community Housing units. OF: Above: Basic Concept Evaluation Existing Site and Conditions Page 19 of 35 AVON NORTH Hidden Valley Estates Property Size Zoning Ownership Project Goals Infrastructure Entitlements HIDDEN VALLEY ESTATES Legal Description: HIDDEN VALLEY ESTATES SUBDIVISION Metcalf Road 7.2 Acres Industrial, with permitted use of Community Housing Light Industrial & Commercial Private Development of a mix of 54 deed restricted townhomes/duplexes Infrastructure to support development has been installed Avon approved a Development Agreement for the site Above Photo: 2026 Page 20 of 35 AVON TOWN CENTER 10/Avon Koad Interchange. I he Sun Road Plan area is substantially underdeveloped under the Town Center zoning, which allows high -density mixed -use development. The central location, proximity to Harry A. Nottingham Park, and convenient access to Avon Road and the I- 70 interchange present a unique opportunity for a high -quality redevelopment project that incorporates residential density into the Town Core. 91 Beaver Creek Place is located in the East Town Center subarea. This plan is currently being updated. This East Town Center Plan establishes a community based plan and vision for the redevelopment of the Plan area which best supports Avon's Comprehensive Plan goals, the Avon Community Housing Plan, the West Town Center Investment Plan, the Sun Road Redevelopment Plan, and the Avon Downtown Authority Development Plan. Existing development in the Plan area is substantially underutilized compared to development allowed under the Town Center zoning, and redevelopment of this area presents a unique opportunity to guide and support high density development to achieve many community goals. Slopeside, is not within either plan. However, its juxtaposition in the area of these two subareas is complimentary in that Slopeside will be a walkable neighborhood, slated as workforce housing. Page 21 of 35 1. Sun Road Redevelopment Area Property Size Zoning Ownership Project Goals Infrastructure Entitlements Sun Road Redevelopment Area Legal Description. - SUN ROAD REDEVELOPMENT AREA Sun Road/West Beaver Creek Blvd 5.4 Acres Town Center Mixed Private and Town of Avon A mixed -use, transit -oriented redevelopment project with 70,000+ sq.ft. of ground floor commercial space and 150-300 deed restricted Community Housing units Infrastructure to support development is available Development will require review of a Development Plan and a potential Density Bonus application. The Sun Road Plan area is substantially underdeveloped under the Town Center zoning, which allows high -density mixed -use development. The central location, proximity to Harry A. Nottingham Park, and convenient access to Avon Road and the 1-70 interchange present a unique opportunity for a high -quality redevelopment project that incorporates residential density into the Town Core. READ THE FULL PLAN - LINK SUN ROAD REDEVELOPMENT PLAN 2025 Page 22 of 35 2. 91 Beaver Creek Place (North Court) 0,0 11;00*0, 61, Legal Description.- 91 BEAVER CREEK PLACE - BENCHMARK AT BEAVER CREEK LOT Beaver Creek Plaza Property Size 0.57 acres or 24,829.2 sq. ft Acres Zoning 91 Beaver Creek Point: Shopping Center (Retired) (Sc) Ownership Town of Avon Project Goals A mixed -use, 3-4 story building with ground level commercial and -20-30 deed restricted housing units above Infrastructure Infrastructure to support development is available Entitlements Development will require a zone change to Community Housing, Mixed -use 91 Beaver Creek Place The 0.57-acre property is located in the East Town Center area. The property currently has a small commercial building, with opportunities for local businesses to lease until redevelopment occurs. Acquisition of this property presents a significant opportunity for future Community Housing units. The East Town Center District Plan anticipates redevelopment efforts that would increase residential density within the area. The Town of Avon possesses adequate water rights to support higher -density development in the Town Core and currently provides this property with access to Avon's complimentary transit services. The building itself is not in adequate condition for reuse, offering future owners the opportunity for newly constructed deed -restricted residences. Page 23 of 35 3. Slopeside Community Housing Legal Description: SLOPESIDE COMMUNITY HOUSING SITE — BENCHMARK AT BEAVER CREEK TRACT Y & SWIFT GULCH ADDITION LOT 2 Swift Gulch Road Property Size 3.41 ac and 1.43 ac. Totals: 4.8 ac or 210,830.4 sq. ft Zoning Community Housing High Density (CHHD-1) and allocated Public Facilities (East parcel) Ownership Town of Avon Project Goals Residential rental project of 106 units targeted at 80-100% AM Infrastructure Infrastructure to support development is available Entitlements Development will require a zone change on the east parcel from to CHHD-1 (same as the west parcel); consolidation of the two parcels into one parcel through a Subdivision Amendment Slopeside The Future Land Use Map in the Avon Comprehensive Plan highlights these properties as F.;.,. both a gateway into Avon and a cornerstone property for Community Housing. Once "` u envisioned for 105 homes, the ~ site was later transformed —its west parcel preserved for _ open space, landscaping, and drainage ("OLD"), while the - east parcel was set aside for public use (Civic/Public , W ,o�. _�„_. A ,�.. ► Facility within the Swift Gulch Addition PUD). Today, these parcels offer more than just land: they feature a key stretch of the pedestrian and bike trail connecting Avon Road to Post Blvd, alongside the historic Nottingham Puder Ditch. Now, Slopeside is poised to shape the community's future with a bold proposal for a 106-unit Community Housing development that will reinvigorate this walkable area and address critical housing needs. Page 24 of 35 Village (At Avon) PUD Proposed Community Housing Sites 2026 The Village (at Avon) area presents valuable housing opportunities for both rental and ownership projects. CH1 and CH2 are both flat properties that contain all necessary unitalities in close proximity. With zoning secured for these sites via a PUD amendment in 2026, the design of projects can commence. Development of the East Avon Preserve is dependent on significant coordination for access and water service by future water tank(s) above the property. The timeframe for developing the East Avon Preserve is dependent on adjacent development, which triggers the implementation of a new water tank, making the timeframe much longer than CH1 and CH2. However, this site may open up the availability for the construction of a housing type no slated for any other Avon project. That being, possible duplex and or single family units (or a mix thereof). Page 25 of 35 1. Village (at Avon) - CH 1 Community Housing Site Legal Description: CHI — Lot 8, VILLAGE (ATAVON) PUD East Beaver Creek Blvd. Property Size Approximately 1 acre * See Entitlement Needs below Zoning CH1 — Community Housing Per PUD Ownership Town of Avon Project Goals Within the Village (at Avon) and adjacent within the East Avon Preserve, create a variety of dedicated Community Housing Units with ownership and rental opportunities Infrastructure Infrastructure to support development is available Entitlements This development will need an amended plat to define this property and separate it from the neighboring Childcare Center property. Design Review approval by Village (at Avon) DRB Village (at Avon) 2026 — CHI/Lot 8, Future Community Housing Formally Lot 8, Planning Area F, this property has been conveyed to the Town of Avon by the Village (at Avon) as a condition of a joint PUD amendment application. The amendment changed the allocation of Lot 8 from PA-F (the same uses as permitted on the Piedmont parcel) to CH1 (Community Housing). Avon anticipates approximately ')A T condominium units are possible for this property (see very basic analysis above), although an in depth site analysis has not been explored for development on this property. Staff performed a 'fit' exercise to show a 80'x180' footprint (14,400 sq.ft.) condominium building that could serve units on two sides of a central corridor or drive path. Further design work and conceptual designs are required to confirm general layout and programming. The design plans will ultimately be reviewed by the Village (at Avon) Design Review Board. Page 26 of 35 3. Village (at Avon) - CH2 Community Housing Site: "Avondale" Property Size Zoning Ownership J Legal Description: CH2 — Lot 5, VILLAGE (AT AVON) PUD Yoder Avenue Approximately 3 acres * See Entitlement Needs below CH1 — Community Housing Per PUD Town of Avon Project Goals Within the Village (at Avon) and adjacent within the East Avon Preserve, create a variety of dedicated Community Housing Units with ownership and rental opportunities Infrastructure Infrastructure to support development is available Entitlements This development will need an amended plat to define this property and separate it from the neighboring Childcare Center property. Design Review approval by Village (at Avon) DRB Village (at Avon) 2026 — CH2/Lot 5, Avondale Apartments Community Housing Council provided direction in early 2023 to proceed with due diligence for a Community Housing project on this property owned by Avon. This resulted in the creation of the "Avondale Apartments" community housing project, on Lot 5, a Town -owned property previously designated for Public Facilities within the Village (at Avon) PUD. Adjacent to Home Depot at the end of Yoder Ave. Much like the amendment for Lot 8 to CH1, Avon proposed updating Lot 5's designation to reflect its intended primary use as Community Housing, replacing the Public Facilities language but still permitting other public uses. Lot 5 is designated as Community Housing (CH2) within the PUD, providing clear guidance for this use. The zoning for CH2 now permits up to 40 units and up to a 60' building height. Design plans will be developed for this rental project, and presented to the Village (at Avon) Design Review Board for approval. Page 27 of 35 2. East Avon Preserve ": .'�► WN, EAST AVON PRESERVE - Unplatted Wagon Trail Road Property Size 37.357 acres with 7-15 Acres (of potential development area) Zoning Public Facilities Ownership Town of Avon Project Goals Development of 100+ Community Housing units Infrastructure Construction of new water storage tank is required Entitlements Rezoning appropriate portions of the property to Community Housing, subdivision/platting The East Avon Preserve Parcel ("EAP") totals 85.99 acres and consists of two parcels. Avon acquired the EAP in 2013 from the United States Government through a Multi -Party Land Exchange agreement. Avon and Eagle County entered into an Intergovernmental Agreement, referring to the East Avon Preserve Parcel as the "Village Parcel." The agreement states that once the boundaries for "affordable housing" and community facilities are set and the road and trail alignments are determined, Avon will grant a conservation easement to a mutually acceptable land trust on the remaining acreage. The area was zoned Public Facilities ("PF") when it was acquired. Avon's plans identified the upper northeast corner as an area for potential housing. A slope analysis was conducted in 2022 slope analysis and a more refined potential development areas were identified (shown in the image above). Additional planning analysis is required to determine if additional area may be potentially developed for Community Housing and if wastewater infrastructure can serve additional density. Page 28 of 35 State Land Board Legal Description: UNPLATTED; DOWD JUNCTION Highway 6, Eagle -Vail Property Size 71 Acres Zoning General Commercial and Resource per Eagle County land use code Ownership State Land Board Project Goals 300 Community Housing units, developed in phases with an early phase of 100 units between LIS6 and the Eagle River and future phase of 200 units on the north side of the Eagle River Infrastructure Infrastructure exists on the south side of Eagle River for first phase. Significant infrastructure is required to extend utilities and vehicle access to the north side of the Eagle River. Entitlement Needs Annexation into the Town of Avon, zoning, and subdivision .k 1. Apartment Site -4.60 acres 2. River Corridor 20.54 acres 3. River North Parcel -53.14 acres Page 29 of 35 APPENDIX B: IMPLEMENTED COMMUNITY HOUSING STRATEGIES History of Accomplishments • Ordinance 2019-01, Community Housing Incentives for Sales Tax and Fee Waivers • Ordinance 2019-03, Inclusionary Housing regulations to include mitigation for new multi -family and commercial developments. • Ordinance 2019-06, Industrial Commercial Zone District Amendments to permit Community Housing as a Use by Right. • 2 Deed Restricted for sale units constructed at One Waterfront Way. • Council Resolution 2020-25, Approving Fee Waivers and Deed Restrictions for 9 Rental Units at 77 Metcalf. • 1 Resident Occupied Deed Restricted for sale unit at Riverfront Lodge. • Resolution 20-15, implementing the Mi Casa Avon Deed Restriction program. There have been 57 Mi Casa Avon deed restrictions recorded on free market units. • 2 Resident Occupied Deed Restricted Units at Frontgate. • Council Resolution 2021-08, Approving Fee Waivers for Capital Improvement Project at 1011 West Wildwood Road. • Ordinance 21-13 Amending the Avon Community Housing Plan. • Council Resolution 2021-20, Approving Short -Term Rental Tax Ballot Question for Community Housing funding. • Purchase of Metcalf Lofts G20 for use as Employee Housing. • 2023, created a full-time Housing Planner position. • Ordinance 23-18, adopting All Electric, Net Zero Energy Use Policy for Community Housing Projects. • Ordinance 23-30, The Avon Community Housing Policies (circa 1990/1991) were replaced in their entirety in 2023. • 4% Use Tax on construction and building materials passed by voters in November 2024, funding Community Housing. • Ordinance 24-01, creating Community Housing Zone District. • Ordinance 24-04, Rezoned Tract Y from OLD to Community Housing High Density-1 • Resolution 24-10, Employee Housing Plan implemented. • Downtown Development Authority formed with a portion of funds allocated to Community Housing. • 2024, Recipient of DOLA's Local Capacity Planning Grant in the amount of $160,000 to investigate the feasibility of a Multijurisdictional Housing Authority. Page 30 of 35 • One (1) Resident Occupied Deed Restricted Unit constructed at Kestrel. • Ordinance 25-01, The Avon Community Housing Policies updated. • Purchase of 3008 Wildridge Rd 1A for use as Employee Housing. • Resolution 25-13, approving the purchase of 15 Sun Rd for eventual redevelopment, inclusive of Community Housing. • 2025: Replacement Price Capped Deed Restriction is available for units with old deed restrictions that do not reflect current practices, policies, and provisions. The new version offers updated Permitted Capital Improvements for owners as a predominant upgrade. • Eagle County Regional Housing Needs Analysis was completed in 2025. • Partnership with Eagle County for Good Deeds Avon, offering buyers a 30% cash payment in exchange for recording a Price Capped Deed Restriction on a free market home at closing. • 10 Good Deeds Avon Price Capped Deed Restricted Units in Avon in 2025. • Resolution 26-01, approving the purchase of 91 Beaver Creek Place for eventual redevelopment, inclusive of Community Housing Ordinance 26-02, approving Village (at Avon) PUD Amendment, permitting Community Housing on CH1 and CH2 including the conveyance of CH1 to the Town of Avon. Page 31 of 35 APPENDIX C: INCOMES Area Median Income for Eagle County in 2026 Household Size 1 2 3 4 5 6 AMI Classifications 30% AMI (Extremely Low) $ 29,130 $ 33,300 $ 37,470 $ 41,610 $ 44,940 $ 48,270 50% AMI (Very Low) $ 48,550 $ 55,500 $ 62,450 $ 69,350 $ 74,900 $ 80,450 60%AMI (LIHTC Maximum) $ 58,260 $ 66,600 $ 74,940 $ 83,220 $ 89,880 $ 96,540 80%AMI (Low) $ 77,680 $ 88,800 $ 99,920 $ 110,960 $ 119,840 $ 128,720 100%AMI (Median) $ 97,100 $ 111,000 $ 124,900 $ 138,700 $ 149,800 $ 160,900 120%AMI $ 116,520 $ 133,200 $ 149,880 $ 166,440 $ 179,760 $ 193,080 140%AMI (Moderate) $ 135,940 $ 155,400 $ 174,860 $ 194,180 $ 209,720 $ 225,260 Affordable Home Calculation by AMI, 2026 AMI% 30% 60% 80% 100% 120% 140% Household Income -2persons $ 33,300 $ 66,600 $ 88,800 $ 111,000 $ 143,880 $ 155,400 Affordable Monthly Payment (30%) $ 833 $ 1,665 $ 2,220 $ 2,775 $ 3,597 $ 3,885 HOA, taxes, insurance (20% of pmt) $ 167 $ 333 $ 444 $ 555 $ 719 $ 777 Maximum Mortgage Payment $ 666 $ 1,332 $ 1,776 $ 2,220 $ 2,878 $ 3,108 Maximum Mortgage Amount $ 122,765 $ 245,530 $ 327,373 $ 409,217 $ 530,433 $ 572,903 Less: Closing Costs 1.5% $ (1,841) $ (3,683) $ (4,911) $ (6,138) $ (7,956) $ (89594) Plus: Down Payment 10% $ 12,276 $ 24,553 $ 32,737 $ 40,922 $ 53,043 $ 57,290 Maximum Purchase Price $ 1339200 $ 266,400 $ 355,200 $ 444,000 $ 575,520 $ 621,600 Freddie Mac 30 year historical average 6.51% 6.51% interest rate 5/21/2026 Affordable Rent $ 833 $ 1,665 $ 2,220 $ 2,775 $ 3,597 $ 3,885 Affordable purchase prices were calculated assuming that a household would have 10% for a down payment and would qualify for a loan at 30% of their monthly income. HOA, property taxes and insurance of 20% were included in Mortgage Amount. The Maximum Mortgage assumes an interest rate of 6.51%, which is Freddie Mac's historical average over the past 30 years for a 30-year fixed rate mortgage. Interest rates have risen since 2023, adversely impacting affordability. MEDIAN HOME PRICE $1,060,863 AFFORDABILITY GAP $616,863 AVERAGE HOUSEHOLD BUYING POWER $444,000 Page 32 of 35 APPENDIX D: Definitions & Best Practices Topic Process, Method, or Definition Jurisdiction Frequency Carbondale, Eagle, Inclusionary Either Recommended A percentage of residential units in new subdivisions/ PUDs Eagle County, San Housing (e.g., Eagle County) or are restricted for workforce housing. Miguel County, Required ( e.g., Eagle) Eagle, Crested Butte New residential and/or commercial development to contribute to workforce housing relative to demand generated by the Employee Linkage/ Typically Required in new construction. For residential, mitigation rate often Avon, Telluride, Mitigation Codes increases based on square footage, and deed restricted units Aspen, Mt. Crested are typically exempt. Fees in lieu provide revenue stream Butte, Vail that fluctuates with building activity. Documented relationship between fee and impact required. Water/sewer tap fees, building permit or other fees waived in Avon, Fee Waivers Available — part or whole to reduce cost to build affordable housing. Breckenridge, Development Specific General funds or other source need to cover cost of fees Crested Butte, waived. Eagle County, Vail Funding is a core component of building housing and running successful housing programs. Few programs begin with funding; rather, finding funding is an incremental process that Avon, Summit Dedicated Funding goes hand in hand with creating goals and objectives, County, Steamboat Source Varies developing policies, securing appropriate land for housing, Springs, Crested and moving forward with public/Private partnerships. Butte, Aspen, Dedicated funding sources take many forms including grants, Telluride fee in lieu payments, taxes, voluntary assessments, proceeds from rents or sales. Partnering with developers to build attainable units, typically Avon, Eagle Partners on publicly owned sites, or using other public resources such County, Vail, ips Partnerships Common as property tax exemption. RFQ/RFP process effective for Breckenridge, selecting development partners. Ownership of land can be Boulder retained with long-term land leases to operators. An individual who is an employee working in Eagle County Qualified Employee Typically Required and y q who works an average of at least thirty (30) hours per week Avon, Vail, Eagle, / Eligible Vetted e tted by Jurisdiction on an annual basis or earns seventy-five percent (75%) of his Eagle County Household or her income and earnings by working in Eagle County; or a retired individual, sixty (60) years or older, who has worked a Page 33 of 35 Topic Process, Method, or Definition Jurisdiction Frequency minimum of five (5) years in Eagle County for an average of at least thirty (30) hours per week on an annual basis; or a person who derives income from self-employment whose business is situated in Eagle County; or a person who works for an employer outside Eagle County if that person can demonstrate that the residence subject to this deed restriction is the primary residence for that person Avon, Eagle Buy Down of Usually involves buying down units with public funds through County, Eagle, Vail, Market Homes deed restrictions imposed for permanent affordability. Breckenridge, Whitefish MT, Telluride Requiring replacement of housing occupied by the workforce No Net Loss Policy Typically Required in when redevelopment occurs. Similarly priced units should be Boulder, Basalt Code replaced on site, or another site, or a fee -in -lieu of replacement could be allowed. Additional Terms and Definitions can be found in the Avon Comprehensive Plan and Avon Community Housing Policies. PVAVOnTwa "qFt Community Housing Programs: Avon ',. . Xi Casa Avon! is a program to incentivize prospective � homebuyers to place a deed restriction on their property to ensure more permanent residents have an opportunity to purchase homes within Avon. There is no price appreciation cap on a iMi Casa Avon! Deed Restriction. This deed restriction is an agreement between you, the new homebuyer, and the Town of Avon that limits the use of your property. In this case, the deed restriction limits Eagle County employees' ownership and use of the property. In exchange for the deed restriction, the Town of Avon pays you a lump sum through the iMi Casa Avon! Program to help offset the purchase price. Good Deeds Avon is the first partnership launched under Housing Eagle County's Community Partner Program, co - designed with the Town of Avon to set a new standard for regional collaboration. Avon's investment is matched one- to-one by the Eagle County Housing and Development Authority (ECHDA), providing up to a 30% buy -down of the purchase price on eligible open -market homes within Avon's jurisdictional boundary. Municipal Employee Home Ownership Program ("MEHOP" ) is a payment assistance program for Avon Employees to support home ownership whereby the Town will provide up to 30% of the purchase price of a home in exchange for recording a price capped deed restriction on an open market property. Avon Council adopted the Town of Avon Municipal Employee Housing Plan in 2024 setting goals to provide more housing and approved a deed restriction purchase program to help Town of Avon Employees purchase an affordable home. Page 34 of 35 APPENDIX E: HOUSING NEEDS ANALYSIS 2025 Eagle County Regional Housing Needs Analysis? RE-1 Eagle County Housing Partners cros.1- RRC Nabilat(or Numanity 7 Pathwayhttps://www.aeon.org/DocumentCenterNiew/25670/2025-EC-Regional-Housing-Needs-Assessment---Final?bidld= Page 35 of 35 ATTACHMENT B Avon Community Housing Plan 2026 Heart of the Ta-Iley Table of Contents Introduction Goals........................................................................................................................................... 2 Objectives..................................................................................................................................... 2 Demand........................................................................................................................................ 3 Housing Cost & Area Median Income(AMI).............................................................................................5 Strengths& Assets........................................................................................................................... 7 The Aspens: Community Preservation.................................................................................................. 14 Appendix A: Housing Projects............................................................................................................ 16 Appendix B: Implemented Community Housing Strategies......................................................................... 28 AppendixC: Incomes....................................................................................................................... 30 Appendix D: Definitions & Best Practices.............................................................................................. 31 Appendix E: Housing Needs Analysis.................................................................................................. 33 Approved by Town Council Ordinance [INSERT NO] Introduction The Avon Town Council recognizes the severe lack of affordable housing' opportunities in the Eagle River Valley. Reasonably attainable and available housing opportunities are critical for Avon to maintain its authentic town character and to support the current and next generation's participation in the Avon community. Workforce housing is necessary to support the many businesses located in Avon that create Avon's vibrant character. A variety of Community Housing types to meet residents at a variety of life stages and income levels is necessary to retain a sense of community. The Avon Community Housing Plan is an extension of the Avon Comprehensive Plan. It provides a high level overview of the housing supply and demand conditions in Avon, at a point in time, and defines goals and strategies to address the needs and demands contained within. The Eagle River Valley Housing Needs Analysis ("HNA"), a comprehensive report also conducted periodically, provides in-depth, detailed information on the economic and social factors comprising those housing conditions in Eagle County. The Avon Community Housing Plan uses information from the HNA to form its goals and strategies. The Town of Avon Comprehensive Plan provides overarching guidance for the entire town Extensions of the Comprehensive Plan Sun Ri Redev . ,....,. Sub -Area Plan Plan Plans IUrban ntown West Town RenewalIrDevelopment Center Plan (URA) (DDA) Investment Plan (WTC) Associative Town Owned Properties Harry A. Nottingham Park Plan Plans Sustainability Plan Walkability Plan Multimodel Transportation Plan Climate Action Plan EV Readiness Plan EC Community Wildfire Protection Plan This 2026 Avon Community Housing Plan updates the prior 2021 Plan by recognizing the successes and accomplishments over the last five years while acknowledging the ongoing challenge of meeting the housing needs of the Avon Community. This 2026 Plan defines the Community Housing goals, objectives, plans, and strategies for the Town of Avon over the next several years. "Avon's vision is to provide a high quality of life, today and in the future, for a diverse population; and to promote their ability to live, work, visit, and recreate in the community. " -TOWN OF AVON COMPREHENSIVE PLAN "Affordable" housing is typically defined as housing that costs no more than 30 percent of a household's gross monthly income. For ownership housing, this includes mortgage principal, interest, property taxes, and insurance. For rental housing, this includes monthly rent payments (not utilities, internet, or other additional costs). (2025 Eagle County Regional Housing Needs Analysis) Page 1 of 33 The potential community benefits of increasing Community Housing efforts include: • More housing choices; • Increased economic stability and a more active year-round economy for local residents and businesses; • Increased ability to address racial, environmental, and climate inequity; • Alleviation of housing insecurity, housing cost burden, overcrowding2, and displacement, including homelessness. • Greater ability to retain individuals and families throughout life and career phases, strengthening the sense of community, opportunity, and quality of life; • Increase Community Housing supply for job recruitment and retention purposes; • Create Community Housing in closer proximity to job centers with pedestrian connections and transit, in alignment with the Climate Action Plan goals; and • More full-time residents to sustain arts, culture, social, and recreational activities. Goals Avon has identified the following goals: Goal 1: Achieve a diverse range of housing densities, styles, and types, including rental and for sale, to serve all segments of the population. Goal 2: Coordinate with neighboring communities to provide and financially support an attainable housing program that incorporates both rental and ownership opportunities, affordable for local households. Goal 3: Provide and support Avon's share of Community Housing units as identified in the 2025 Eagle County Regional Housing Needs Analysis by 2035. Objectives Avon has identified the following objectives: 1. Maintain or increase the percentage of year-round residents; currently 56% of all dwelling units in Avon are occupied by year-round residents. 2. Provide affordable housing for IGWe a the <30-80% AMI levels, which include extremely low-income (ELI), very low-income (VLI), and low-income (LI) households, in proportion to the housing needs identified for each various mGGMG IGVels stated in the Housing Needs 2 Overcrowding is defined as a living arrangement with more than one person per room (total rooms, not just bedrooms). (2025 Eagle County Regional Needs Analysis) Page 2 of 33 Assessment. 3. Prioritize available Community Housing funds annually based on funding and partnership opportunities, cost of projects and programs, assessment of specific unmet housing needs, consideration of other residential projects in the Eagle River Valley, and assessment of Avon's capacity to efficiently manage projects and programs. 4. Explore opportunities for additional dedicated funding sources to sustain the Community Housing Fund, particularly through regional partnerships and the formation of a regional housing authority. Page 3 of 33 5. Increase deed restricted homeownership opportunities with a priority for households making equivalent of 140% or less of the Area Median Income ("AMI") through the Mi Casa Avon, Good Deeds Avon, and other housing programs and regulations. For example, a two -income household earning 140% AMI ($155,000) may be able to afford a home price of $620,000 in 2026. 6. Grow the inventory of homeownership and "missing middle" inventory, in place of additional rental housing stock, to create a more balanced portfolio with a long-term goal of more home ownership opportunities. 7. Prioritize price point, focusing on the 80-140% AMI level, as well as finish quality and amenities that are attractive to right -sizing households, when considering new rental development. This includes growing households upsizing their housing and seniors downsizing their housing. 8. Maintain or increase the percentage of Qualified Employees residing in Avon. 9. Partner with other communities, non-profit entities (i.e. Habitat for Humanity, Town of Vail, Eagle County), Private Affordable Housing Developers, and Private employers to financially support new Community Housing projects and programs. 10. Aggressively pursue available grant funding to support Community Housing projects and programs, including public infrastructure improvements that benefit or support Community Housing projects. 11. AGhieve environmental and Glimate aGtien equity to ensure that low inGome and marg'nal'z GOMmunities do not suffeF disproportionate impaGts or burdens from Community Housing PFGj8G Consider social, environmental, and climate equity in the development of Community Housing projects, programs, and policies, recognizing that low-income and historically marginalized communities often suffer disproportionate environmental, climate, and cost burdens and impacts. 12. Support Eagle County in conducting the Eagle County Regional Housing Needs Analysis every five years. Demand Free market real estate values and rents have escalated faster than wage growth over the last 15 years, especially during the COVID-19 pandemic, resulting in a severe shortage of reasonably attainable and available housing. As of 2025-2026, a significant shortage of affordable housing persists as housing costs have substantially outpaced local wages. Renters and low- to median -income households are frequently cost -burdened or severely cost-burdened3, with many spending more than 50% of their income on housing. COLORADO HOUSING MARKET vs. WAGE GROWTH (Last 15 Years) Real Estate Values OF Median Rents THE AFFORDABILITY iOO4 GAP Median Wage = Growth 3 Households paying more than 30 percent of their income towards housing are considered "cost burdened" — those paying over 50 percent are considered "severely cost burdened. (2025 Eagle County Regional Housing Needs Analysis) Page 4 of 33 Across numerous regions, median rents and home prices have increased at a rate surpassing that of average incomes. In Eagle County, survey and focus group participants reported that rents were consistently between $1,500-$2,000 per bedroom. That translates over 3 median wages needed to rent a 3 bedroom unit priced at $4,500 or more. Page 5 of 33 Wages: Eagle County's 2026 Area Median (Household) Income is $111,000, while the W,-c-ap4a- +nceee individual median wage is $52,900 ' '. Surging Home Prices: The median home sales price in Eagle County (excluding resort areas) was $1,060,863 by YE 2025. Avon alone experienced a median sales price of $1,110,000 during that same time period. Extreme Affordability Gap: The Affordability gap compares the mortgage an average household can afford with the median home price. As of 2026, the average 2-income household can afford approximately a $444,000 home, compared with the YE 2025 median -priced home in Eagle County at $1,060,863. This leaves an Affordability Gap of $616,863. High Costs vs. Low Wages: In this resort community, the majority of the county's largest volume of professions (including hospitality, retail and food service) offer salaries below $40,000 per year. Rental Market Distress: Rental rates increased by 48% between 2007 and 2023, with studios (700- 900 sq ft) costing up to $2,500 by YE 2025. Displacement Risk4: The 2025 Eagle County Regional Housing Needs Analysis identifies displacement risk factors and their prevalence among Avon's residents. Avon's most prevalent risk factors are as follows: 35% of households are housing -cost burdened; 31 % of people speak a language other than English at home; There are 150 mobile homes in Avon 55% of people are renters X% low-income residents or households Supply Shortage: The 2025 Eagle County Regional Housing Needs Analysis identified a need for 6,375 affordable housing units across Eagle County, within 10 years to meet the current demand. Avon's share of that shortage is 1,458 units. See the table below for a breakdown of the shortage by AMI level. The HNA calculated the projected housing need using two factors: 10- year job growth and housing that will be needed for employees filling jobs vacated by retirees. EAGLE COUNTY REGIONAL HOUSING NEEDSANALYSIS Table A-3. Aron Housing Need by Tenure and AMI Extremely Low Income(<30%AMI) 39 0 39 Auon 39 0 39 0 0 0 Very Low Income (31 - 50 % AMI) 54 0 54 0 0 0 54 0 54 Low Income (51 % - 80% AMI) 124 0 124 237 0 237 361 0 361 Moderate Income 81%-100% 64 0 64 284 0 284 348 0 348 100%-120% 51 22 29 155 82 73 206 105 102 Mddle Income 120%to 140% 50 22 28 49 26 23 100 48 52 140%to 160% 41 27 15 15 11 4 56 38 19 160%to 180% 32 21 12 40 29 11 73 50 23 180 % to 200% 32 21 12 13 10 4 46 31 15 Greater than 200% 117 75 41 117 75 41 200% to 220 % 53 39 15 53 39 15 220%to 240% 4 3 1 4 3 1 Total 606 188 418 852 200 652 1,458 388 1,070 Source: F47C Associates, U.S. Census Bureau, Colorado Rapt. of Labor & En loynent, OCEW, JobsEO, Econonic & Henning Systems 4 Displacement risk is the likelihood that residents or businesses may be forced to relocate involuntarily due to economic pressures or physical conditions. (2025 Eagle County Regional Housing Needs Analysis) Page 6 of 33 Ownership - Emergency Shelter Transitional Housing Supportive Housing Rent - Income Ltd. Restricted Rental Income Ltd. Restricted Ownership Prevention. Rapid Housing Supportive i Community Housing Community Housing Community Housing Diversion Shelter Scattered Capital. Grants/ Capital, Grants Loans, Subsidies Loans, Subsidies 0-30%AM[ 30-60%AMI 60-120%AMI 60 B d Mf 80-140%AMI Partner Organizations: Federal Program Government Involvement: Eagle County Homeless Services I Catholic Charities LIHTC HUD I Public /Private Partnerships I Habitat for H Salvation Army I Bright Future Foundation USDA Avon Community Housing Projects Market Market Rental Ownership Factors Driving the Housing Crisis: Second Home Market: Over 31 % of housing units in the county are used by part-time residents or are vacant. In Avon, 44% of housing units are vacant or used by part-time residents. Desirability: The high quality of life attracts remote workers, second homeowners and relocating retirees who can afford prices higher than what local service -based workers can afford, increasing the competition and demand for the limited housing stock available. Geography & Land Limits: Limited buildable land restricts the supply, further driving up costs. Couple that with a lack of Town -owned land and topographically challenging sites, the results for new construction rely on market price land costs with extremely expensive construction costs, adding to the cost gap between building new units and their affordability to locals, without extreme subsidy. t AMI is the accepted metric and does not always accurately reflect true wages of local workers. It reflects household income (all wage earners, all jobs) and not wages or salaries on their own. There is no alternative metric that removes part-time resident income from AMI. Page 7 of 33 The lack of Community Housing is creating the following challenges: ♦ Employers struggle with unfilled positions, increased turnover, higher training costs, and lost productivity, especially with long-term management positions; ♦ Continued increase in home prices that are well beyond the financial means of most local residents; ♦ Loss of historically affordable purchase options or long term rental availability due to short term rental (STR) use, second home use, and retirees relocating to Eagle County; ♦ Extremely low vacancy rates in rental markets, resulting in limited choices and rising costs for renters; ♦ Negative socio-economic impacts on individuals and families, who are spending a disproportionate amount of their income on housing, commuting long distances, and living in locations or situations that are not sustainable for the long term; ♦ Increased risk of high energy costs and vulnerability to climate change for residents living in homes that may be older, inefficient, poorly insulated, and/or less resilient to extreme weather. ♦ Lack of opportunities for returning local family offspring who grew up in Eagle County to secure housing in the place they consider home. ♦ Displacement caused by lack of opportunities, from forcing many renters who wish to buy a home, or persons with expanding families, to move away from the area to find more affordable options, to homelessness. ♦ Lack of efficient, resilient, transit -oriented, and net -zero Community Housing will undermine the achievement of local and regional climate goals. ♦ According to the 2025 Eagle County Regional Housing Needs Analysis, historically marginalized and underrepresented groups are feeling the heaviest impacts. In Eagle County, these are primarily immigrants and non-English speakers, especially the Hispanic and Latino communities. Housing Cost & Area Median Income (AMI) 2025 Average Median Wage: $52,900 12025 Median Home Price: $1,110,000 FY 2026 Income Limits Summary — Eagle County (HUD It is important to review the availability of properties that are attainable through the Vail MILS for local residents and evaluate the percentage of homes purchased for primary residency in these neighborhoods. There were 91 sales in 2025, the median price for all dwelling units sold in the Town of Avon (excluding Mountain Star) was $1,110,000. Of those 91 sales, 48% were purchased with cash, an indicator that those homes were purchased as second homes, investment properties, relocating retirees, or for use as short term rentals. Condominiums accounted for 78% of these sales, with a median price of $864,000. The median price for single family dwellings, duplexes, and townhomes was $2,150,000. A Page 8 of 33 AM] is used by other local entities as well. For -instance, Avon partners and contributes to the Walking Mountains Science Center, and through supporting this non -profit's energy programming, they have "income and community priority qualifications" forcertain rebates and incentives for households up to 150%•AMI.11 Learn More at ¶ Wa1" •��i, Mountains �� household earning 2 average weekly wages makes approximately $105,800 per year. This income cannot support mortgage payments for any median priced dwelling units in Avon. The rental market is similarly challenging for local residents. Between 2007 and 2021, the average rental rates rose 48% across the Eagle River Valley. Vacancy rates have approached zero, and recent rental projects Page 9 of 33 have experienced an accelerated cost as compared to increases in the consumer price index. Market rate rental projects in Avon have advertised rental rates up to $2,509 for a studio, $3,992 for a 2-bedroom unit, and over $5,397 per month for a 3-bedroom unit, by year-end 2025. With a per bedroom median price of around $1,900, overcrowding and in -commuting are increasingly common. To meet the needs of local employees in the Eagle River Valley, the 2025 Eagle County Regional Housing Needs Analysis estimates that 6,375 additional dwelling units will be required by 2035. In the "mid -valley", which includes EagleVail, Avon, and Edwards, 2,586 dwelling units will be needed to accommodate the net loss of affordable housing units and projected population and job growth. In Avon alone, that need is 1,458 units, or about 25% of the regional need. Extremely, very, and low-income (<30-80% AMI) and moderate -income (80- 120% AMI) each make up about one-third of Avon's need. The need for housing targeting 120-140% AMI makes up about 7%. All of the need for housing under 100% AMI is for rental units, while that between 100-140% AMI is almost evenly split between rental and ownership. It is anticipated that subsidies or public/Private partnerships will be required to make it financially feasible to construct or preserve a majority of these dwelling units. Avon and the rest of the "mid -valley" are highly desired locations for local residents. The community survey of Eagle River Valley households, conducted along with the Eagle County Regional Housing Needs Analysis, found that 53% of renters and 42% of owners selected "mid -valley" as their first choice for place to live. The concentration of employment and job centers in the upper -valley and mid -valley areas of the county poses specific challenges. The narrow valley floor surrounded by federally protected lands has been developed for the most part. The remaining parcels identified for new development have challenging terrain (sloped, narrow, asymmetric). Avon is also identifying areas for redevelopment and strategizing which of its parcels to reclassify for housing redevelopment. Both options add considerable cost to construction and are factors in the higher AMI limits suggested for Eagle County, especially for Avon. Page 10 of 33 Strengths & Assets Avon can build upon existing assets and previous housing initiatives, including: ♦ Implementation of the Mi Casa Avon Resident Occupied deed restriction purchase program, with 56 units added between 2020 and 2025. ♦ Partnership with Eagle County for Good Deeds Avon Price Capped deed restriction purchase program, with 10 units added since its inception in 2025. ♦ Updates to the Avon Community Housing Policies to stay current with industry best practices and changing market conditions. ♦ Several large-scale Town -sponsored rental projects in the 1990s and 2000s, resulting in an inventory of 544 income restricted or price capped units, ♦ 63 deed restricted for sale units that were a result of successful PUD negotiations; ♦ Establishment of a Community Housing Fund with dedicated revenue sources; ♦ Employee Housing Mitigation requirements for new development; ♦ Continued planning, zoning and land acquisition efforts to create more opportunities for new Community Housing development; ♦ History of regional collaboration with public sector, non- profit and Private sector on housing issues; ♦ Adopted Community Housing tax and fee waiver incentives; ♦ Adopted a restricted Short Term Rental Overlay District; ♦ The commitment to building Community Housing that meets Climate Action initiatives; ♦ Amended the Commercial -Industrial Zone District to allow deed restricted Community Housing; and ♦ Adopted Comprehensive Plan, which sets housing as a top policy priority. -r aeon=,I For Immediate Release I April 17, 2025 Town of Avon and Eagle County Housing and Development Authority Partner to Expand Good Deeds Program Awn, CID — The Eagle County Housing and Development Authority (ECHDA) is excited to announce the rollout of Good Deeds Phase II, a significant expansion of the Good Deeds program, which was launched in 2021 to address the rising cost of housing in Eagle County. With median home sales prices now hovering at $1.6 million, Phase II increases the program's Maximum Purchase Price from $850,000 to $1.25 million, providing greater access to homeownership while preserving long-term housing affordability for local residents. In addition to increasing the maximum purchase price, Phase 11 introduces the Community Partner Program, a collaborative initiative aimed at increasing funding and support for homeownership in Eagle County. Through this program, ECHDA will partner with communities and organizations to provide additional resources for affordable housing. Community Partner Program Through the Community Partner Program, ECH DA will make a payment equal to 15% of the purchase price of an atgible properly, with an additional 15% peyment provided by the partnering organization. This combined 30% investment, capped at S375,000, makes homeownership mom attainable for local residents and the workforce while ensuring accessible homeownership opportunities for generations to come. This program is exclusively available for open market properties in Eagle County and utilizes Price Capped Deed Restrictions to ensure longterm affordability for locals. The Town of Awn (TOA) played a key role in working with ECHDA to develop the framework for the Community Partner Program. This collaboration served as the catalyst for creating the new program within Good Deeds Phase II, demonstrating the powerof regional partnerships and setting a strong precedent for other municipalities in Eagle County to address housing challenges. 'The success of the Eagle County Good Deeds program has been beyond our wildest imaginations. We are w happy to be working closely with the Town of Awn on this next phase of the program to make the pot even sweeter for homebuyers. Locals, start shopping todayl' said IGm Bell Williams, Executive Director for the Eagle County Housing and Development Authority. Good Deeds Avon in collabcmtion with ECHDA, the Town of Avon launched Good Deeds Awn lu lr—do its residents within Avon s jurisdictional boundaries an additional 15% toward the Mass priceofeligible properties, matching ECHDA's payment This partnership, Itmirrom tits structure of the n&My oreeled Community Partner Program, ies Awn residems wrh a combined 30% buy down on eligible properties, ng homeownership more attainable and accessible Ve cannot have a stable and healthy community without community housing" said Avon Mayor Tamm Nottingham Underwood 'We cannot build our way out of this housing crieia. An effective housing program will require both new construction and acquisition of dead restrictions on existing housing stock' Good Deeds Phase II Hlghlightl, Page 11 of 33 Strategies Avon seeks to provide over 1,000 new Community Housing units targeted at moderate to middle -income levels by 2036 through a combination of construction of new Community Housing projects, continuation of successful Community Housing programs and implementation of targeted Community Housing policies. The summary of opportunities indicates the potential to provide 1,000+ new Community Housing units if new revenue sources and financial partnerships can support and accelerate construction projects, and support and expand deed restriction purchase programs. Avon's Community Housing strategies are intended to constitute and implement a "Housing Action Plan" as required by the Department of Local Affairs. Projects, Policies and Programs are each discussed separately below. This Community Housing strategy is heavily weighted towards increasing ownership opportunities. Avon has an anticipated target to attain a range of new Community Housing comprised of 65-75% ownership opportunities and 25-35% rental opportunities. The preference is to provide the maximum amount of 80- 100% AMI rental opportunities and 100-140% AMI ownership opportunities; however, the actual Community Housing AMIs will depend upon available financial resources and the economics of each project. New Community Housing rental projects are expected to be at or below 110% AMI, while new Community Housing ownership projects may have a greater mix of Resident Occupied units without an appreciation cap on resale. Housing Needs by Household Incomes The overall mix of Community Housing projects, programs, and policies should provide housing across the household income spectrum in proportion to the housing needs identified in the HNA. Particular attention must be given to the housing needs of extremely low-income, very low-income, and low-income lower, ,e households, who are more vulnerable than higher -income households and are often underrepresented. The 2025 Eagle County Regional Housing Needs Analysis estimates Avon will need 454 units of affordable housing for households under 80% AMI in the next ten years, as well as an additional 150 units of supportive housing for unhoused residents countywide. Evaluation and reporting on the different household income levels served by new Community Housing, compared with the needs stated in the HNA, should occur annually. Consideration should be given to other affordable housing projects in the Eagle River Valley that may serve households at a variety of income levels. Environmental and Climate Eguity5 When developing Community Housing projects, programs, and policies, Avon should evaluate and seek to address the potential fe disproportionate environmental burdens and impacts on lowerincome households and marginalized communities that may result from or be exacerbated by a lack of access to affordable sueh housing- aetiVities. Evaluation should include energy and water efficiency, access to weatherization programs and clean 5Environmental and climate equity in community housing ensures that marginalized, low-income, and historically redlined communities are not disproportionately burdened by climate change hazards. It involves creating safe, permanently affordable, and climate -resilient housing that reduces carbon footprints while actively improving public health. Page 12 of 33 energy; indoor environmental quality; resilience to extreme weather; proximity to and connection with public transit, public facilities, and amenities; proximity to and connection with grocery stores and neighborhood commercial establishments; inclusion in and integration with existing and adjacent neighborhoods; and the incorporation of inclusive processes designed to increase participation by underrepresented communities. Projects The following table lists Community Housing projects over the next ten years. Projects that are shown as "RO" or "Resident Occupied" may include some mix of price -capped units offered for sale at a lower price point meeting the 100-140% AMI demand, depending upon the availability of funds. The details of each project may evolve based on available financial resources and Community Housing demands. Each project is discussed in more detail in Appendix A. Appendix A may be updated when determined Pending/New Construction Community Housing Projects R = Rental, 0 = Ownership, PC = Price Capped, RO = Resident Occupied (no price cap) Project Name Units Type AMI Developer Land Ownership Hidden Valley Estates 54 0-RO N/a Private Private CH2: Avondale Apartments 40 R-PC 110% Public TOA CH1: Lot 8-PA-E 24 0-PC 120% Public TOA State Land Board: Parcel 1 104 R-PC 100% Public/Private Public 91 Beaver Creek Place 20 0-RO N/a TBD TOA Slopeside 106 R-PC 100% Public TOA Wildwood Annex 12 0-PC 120% Public TOA Sun Road Redevelopment 100 0-RO N/a Public/Private Public/Private East Avon Preserve 100 0-TBD N/a TBD TOA Village Community Housing 80 0-RO N/a Private Private Village Community Housing 110 TOTAL 750 Total New Rental 250 Total New Ownership 500 A neon Programs TBD 1 120-140% I TBD I Private GO TO APPENDIX A: HOUSING PROJECTS Avon Housing Programs Click on link above for Program Definitions Deed Restriction purchase programs have significant advantages because they do not require new land Page 13 of 33 and construction, which can be polarizing. They also do not require the cost, complexity and timeframe of new construction projects. They provide significant flexibility in allowing a home buyer to shop and choose the home that best meets their needs and preferences. Deed Restriction purchase programs provide a significant financial contribution to assist a home buyer with the purchase of an existing home and requires the execution of a Deed Restriction which permanently restricts the use of the resident to full-time residents working in Eagle County. Avon currently supports three deed restriction purchase programs to assist new home buyers, including: iMi Casa Avon! provides a 12% match up to a maximum of $150,000 for a Resident Occupied Deed Restriction, which does not have an appreciation cap on the resale price. Goods Deeds Avon provides a 30% match in partnership with Eagle County up to a maximum of $375,000 for a Price Capped Deed Restriction, which limits the price appreciation on resale. This is contingent upon annual appropriations from Eagle County. MEHOP or Municipal Employee Housing Ownership Program provides a 30% match to Town of Avon employees up to $375,000 for a Price Capped Deed Restriction, which limits the price appreciation on resale and requires the resale to be to a Town of Avon employee or to the Town of Avon. Programs (Deed Restriction Purchases) Annual 10 Years Mi Casa Avon 8 80 Good Deeds 16 160 MEHOP 2.5 25 TOTAL 27 265 Mi Casa Avon ■ Good Deeds MEHOP ■ TOTAL Page 14 of 33 Policies Policies include regulations in the Avon Municipal Code that establish requirements to provide Community Housing, such as employee housing mitigation and inclusionary zoning, and incentives to provide Community Housing, such as Development Bonuses and tax and fee waivers. Policies also include existing and new dedicated revenue sources to support Community Housing. Existing Development Policies: The following Development Policies address planning, land use and development and are currently adopted and in effect: 1 • Allowing Community Housing in all zone districts.' 2. Expediting and prioritizing review of Community Housing development applications.' 3. Employee Housing Mitigation to mitigate 20% of the employee housing demand created by a new development. 4. Tax and Fee waivers for Community Housing projects.' 5. Short Term Rental regulations that limit or prohibit short term rental licenses in designated areas of Avon. Short Term Rental use is monitored throughout Avon and is periodically assessed.' 6. Development Bonus process to allow greater building height, greater site coverage, reduced parking and reduced setbacks for Community Housing.' 3-Mile plan that identifies the State Land Board property as eligible for annexation and planned for 100% of residential units to be zoned and developed for Community Housing.' 8. Seek collaboration and partnership with Eagle County, Town of Vail, Habitat for Humanity and other local government, non-profit and private sector regional partners. Based on existing Development Policies the following projection is provided for new Community Housing units that would result from new development: Policies Annual 10 Years Employee Mitigation/Dev Bonus/Inclusionary 5* 50 TOTAL 5 50 *Average Existing Revenue and Funding Policies: The following revenue and funding policies are currently adopted and in effect. 2% Short Term Rental Excise Tax is dedicated to the Community Housing Fund.' 10% of Avon's 2% Real Estate Transfer Tax is dedicated to the Community Housing Fund.' 'Meets DOLA's Housing Action Plan Standard Affordability Strategies, Long Term Affordability Strategies, and/or Displacement Mitigation Strategies. Page 15 of 33 4% Use Tax on Construction Materials is dedicated to the Community Housing Fund, subject to the prior agreements in the Village (at Avon) to remit the Use Tax revenue to Traer Creek Metropolitan District until such time as the Town of Avon has satisfied its tax credit obligations.' 4. Avon Downtown Development Authority is required to spend at least 50% of tax increment revenue on Community Housing.' 5. Council may consider and approve expenditures from the unrestricted General Fund reserve balance to support land acquisition and construction of Community Housing projects.' Avon has "Opted -In" to Colorado's Proposition 123 program, which makes Avon potentially eligible for state grants. Avon has applied for a waiver to allow Proposition 123 funding to be applied toward projects that serve up to 110% AMI.1 New Development Code and Planning Policies to Promote Community Housing: New policies described below are not formally adopted by this Avon Community Housing Plan; rather, these policies are identified as appropriate for research and analysis by Council, appropriate citizen committees, the development community, and the general public through work sessions and public hearings. These policies for new residential development seek to maximize the percentage of Community Housing in new residential development to the extent economically and legally feasible. The Village (at Avon) Planned Unit Development has vested property rights which limit the applicability of new development policies that require increased Community Housing. 1. Employee Housing Mitigation: Consider increasing the required mitigation from 20% to 30% and reduce the maximum rent or sales price from 120% to 100% AMI. The purpose of this policy is to increase the number of Employee Housing Mitigation Units required by new development and to require such units to be more affordable. Clarify the Employee Housing Mitigation regulations to state that Community Housing units are not included in the Employee Housing Mitigation calculation. 2. Inclusionary Zoning2*: Consider adopting an Inclusionary Zoning requirement for the Town Core which requires up to 50% of new residential units to be Community Housing. Employee Housing Mitigation units that are required would be credited towards the required Community Housing allotment. The purpose of this policy is to increase Community Housing units in the mixed -use center of Avon where water rights exist to support increased density and increased density can be most efficiently served with existing public infrastructure. 3. 3-Mile Plan Annexations: Consider revisions to the 3-Mile Plan to include language which identifies the desired and appropriate percentage of Community Housing units with new annexations that include residential development. The purpose of this policy is to maximize the percentage of new residential units associated with annexations in the 3-Mile Plan to the extent economically feasible. 1 Meets DOLA's Housing Action Plan Standard Affordability Strategies, Long Term Affordability Strategies, and/or Displacement Mitigation Strategies 2 Inclusionary zoning is a municipal or county regulatory policy that requires or encourages real estate developers to set aside a specific percentage of newly constructed residential units for low- to moderate -income households. It is designed to create mixed - income communities and counteract exclusionary housing practices. Page 16 of 33 New Revenue Policies for Consideration: 1- Seek potential new funding sources through the adoption of a Regional Housing Authority. Such revenues sources may include a Sales Tax, Use Tax, Property Tax and/or other revenue sources.' 2. Explore an increase to the Short Term Rental Tax based on review of peer communities. 3. Support uniformity of dedicated taxes for Community Housing across different local government jurisdictions in Eagle County.*' 4. Explore options to allow voter approval of new taxes dedicated to Community Housing through the state legislative process.' 5. Strive to increase the portfolio of affordable rental properties that generate positive cash flow which can then financially support each other and provide financial leverage to support future develompent of additional affordable rental properties.' 6. Discontinue the annual transfer of 10% of Avon's 2% Real Estate Transfer Tax (RETT) revenues when new dedicated revenues for Community Housing are established. Avon's anticipated capital improvements needs to maintain and construct public infrastructure for the next decade and beyond exceeds available RETT revenue. Ten Year Community Housing Goal The total Community Housing goal for the next ten years is summarized below. Fully implementing the projects and programs identified in this Plan will require additional financial resources. SUMMARY next 10 years Projects 750 Programs 265 Policies 50 TOTAL 1065 Future Community Housing Projection ■ Projects ■ Programs ■ Policies ■ TOTAL Future Community Housing beyond ten years is more speculative for planning purposes. The following potential opportunities are identified below. Additional Community Housing opportunities may arise through land acquisitions and public -Private partnerships. FUTURE - Long Range 10-20 years Project Name Units Type AMI Developer East Town Center Redevelopment 240 O-RO N/A TBD North River Parcel 200 O-RO N/A TBD State Land Board Parcels 396 TBD TBD TBD Forest Service (adjacent to North River) 100 O-RO NA TBD TOTAL 936 1 Meets DOLA's Housing Action Plan Standard Affordability Strategies, Long Term Affordability Strategies, and/or Displacement Mitigation Strategies Page 17 of 33 Investment Guidelines Avon must invest limited financial resources wisely to meet the goals of this Community Housing Plan. The Town recognizes that Community Housing development opportunities are often specific and unique to an available property, potential partnerships, and financial parameters set by state and federal agencies; therefore, differences are expected between creating ideal projects that clearly meet all frameworks with the construction cost realities surrounding possible projects. This reality results in Community Housing programs and projects that may not be able to meet all the goals (next page). Rather, the following is intended to assist with the evaluation of proposed programs and projects. This list is not intended to be exhaustive, and additional considerations may be relevant. ♦ Ensure that all Community Housing programs, policies, or projects align with the goals and objectives of the Comprehensive Plan and the Community Housing Plan. ♦ Use Town of Avon investment in projects to bridge the financial gap between free market conditions and Community Housing economics, enabling programs or projects to move forward. ♦ Encourage or incorporate resource conservation, energy efficiency, sustainable development, and climate action goals in programs or projects, as financially feasible. ♦ Select locations for programs or projects that offer reasonable access to public services and amenities supporting full-time residential use, such as schools, parks, trails, transit, multi -modal transportation, job centers, neighborhood businesses, and other public services. ♦ Attract and utilize financial participation from partners, including local governments, state and federal sources, non -profits, and Private investors, for each program or project. ♦ Ensure that each program or project positively leverages the Town of Avon's financial investment. Page 18 of 33 Extremely, Very, and Low -Income Housing: Partnerships, Programs, and Strategies According to the 2025 Eagle County Regional Housing Needs Analysis, Eagle County's existing programs are not sufficient to address all the needs on the housing continuum, as shown in the table below. This is, in part, because the provision of extremely low-income, very low-income, low-income, and supportive housing is not typically supported by the private sector and requires a unique, often regional approach that includes leveraging partnerships, federal programs and funding, and regional strategies. As such, Avon participates in and/or supports the following partnerships, programs, and strategies aiming to provide housing for the lowest income brackets. Still, a gap remains (To what extent do you think Avon and Eagle County will be able to address the ELI—LI need?) Figure 69. Existing Housing Program Coverage R-1 —Owner Both AMI Cate o Tenure c70X - 70X-50% 50X-BOX BOX-t00X 100X-120% 120X-i<0% 160%-160% 160%.180% - 180%.200% - 200%.220% 220%.240% 240%.260% 260%.280% >280% Rental ........_.._..Condo Condo MarkelRato Own Townaome SFR ............. %......._......__.. ::.....;: .. ........._.._.._.._..._.._..;......__._.._....._......__.__.....__....__ .__.—.1-.___.__-s- __ ----- ----------- � � I i ___. Deed Resln< IF— Capped) Ownor Oeetl Resm.-(Price Cappetl Ovmer i i and Inrome Reslncled) I Deed ReseOon Renlel (Resldent.Occupled) Ownar................. .................... w................... <..................... Ha•ilal for Humanity Owner ' Public Housing Rental (ECHDA CHFA, local) Supppoms Services NIA (aOmele65ness, etc ) Sauce: k15. U.S. Consul Bureau, VeNy Wrm Slao. January 2025 C needy Hdntp Hrenipy. FcmmK 8 Rsnnrg sysio� (The following are just examples/suggestions): Partnerships: • Habitat for Humanity • xx Local Proarams/Services: • Eagle County Homeless Services • Eagle County General Assistance Program Federal Programs/Services (how many households do these programs serve in Eagle County?) • Low -Income Housing Tax Credit • Section 8 Strategies: • Preservation: The preservation of existing affordable units, such as the Aspens manufactured home community, will also be crucial to preventing further loss of affordable homes. Page 19 of 33 • xx THE ASPENS: COMMUNITY PRESERVATION Avon recognizes the importance of manufactured home communities, which offer a rare combination of density and affordability essential to Avon. Manufactured home communities (MHCs) provide residents with relatively affordable housing in the valley, and Avon is committed to preserving this option and supporting its residents. However, this is challenging because the land is privately owned and lacks protective covenants to ensure long-term preservation. Manufactured homes typically last 30 to 50 years. Without regular maintenance and energy efficiency upgrades, these homes are less resilient to extreme weather and consume more energy. According to the 2025 Eagle County Regional Housing Needs Analysis, manufactured home residents in Eagle County reported experiencing housing insecurity as a result of not owning the land beneath their homes, rising lot rents, high utility bills (particularly heating), and lack of access to programs and resources available to other homeowners (e.g., financial aid for home repairs). Replacing older units is costly and technically challenging. Avon needs programs to preserve this vital affordable housing, starting by acknowledging the significance of the Aspens community, and the need for its preservation. Preserving manufactured home parks in Colorado usually involves a combination of legislative protections and local government action to address rising land values and private equity redevelopment. Since mobile homes are often permanent structures on rented land, these communities are vulnerable to displacement and predatory rent increases. As land becomes scarcer, affordable sites risk being converted into luxury developments. Page 20 of 33 I E7 POSSIBLE PROTECTIVE PATHWAYS 1. Encourage The Aspens to Form a Resident -Owned Cooperative Avon should encourage the Aspens to consider becoming a Resident -Owned Cooperative (ROC) which transitions a park into a Resident -Owned Community — a priority standard for long-term preservation. Colorado law grants residents the "right of first refusal," requiring park owners to give homeowners notice of a pending sale and an opportunity to match third -party corporate offers. Non- profits like Thistle Communities and ROC USA step in to help communities organize, navigate multi- million dollar real estate transactions, and secure low -interest financing. Avon could require by code that park owners must provide ample public notice (e.g., 90 to 180 days) to residents and local municipalities before putting the park on the market. 2. Public Purchase Under Colorado state law, park residents can assign their statutory right of first refusal to a local housing authority, non-profit housing provider, or land trust. Avon has a Housing Authority that could be used for this purpose. Avon could also codify the right for local housing authorities, municipalities, or resident -owned cooperatives to match offers to purchase the land, preventing sudden sell -offs to corporate developers. Local housing authorities occasionally purchase parks outright to assume immediate management, stabilize rents, and absorb the initial infrastructure risks before eventually transitioning control back to the residents. 3. Regulatory Protections — Avon Municipal Code With State mandates requiring landlords who plan to close or rezone a park for redevelopment to financially compensate displaced tenants for their relocation costs, Avon could also require the loss of density and affordability be a condition of rezoning any zone district. This can be done by creating a zoning overlay that restricts the land from being turned into luxury or traditional apartment complexes without mitigation, or a new anti -displacement of Community Housing provision where any loss of Community Housing shall require replacement of the units lost, maintaining the same AMI levels as was in place prior to redevelopment. Outside of the Avon Community Housing Plan, the foundational Comprehensive Plan can be updated to create a specific district for the Aspens that goes beyond its affordable housing values to recognize and memorialize it as a distinct planning area. This new district may include design aspirations and future planning goals as they relate to maintenance, preservation and general land use. ■■■■ • MEMO �► ■■■■ ■■ ■■ E� �� �� NONE NE ■■ ■■No ME ME 0 ON no ON an Page 22 of 33 AVON NORTH Wildwood Annex Legal Description: WILDRIDGE SUBDIVISION Tract. N Wildwood Road Area in yellow is the developable portion of Tract N Property Size 1.0 Acre Zoning Wildridge PUD — Public Facility Designation Ownership Town of Avon Project Goals 12 three -bedroom condominiums, Ownership Infrastructure Extension of water and sewer to serve this property is required for development. Entitlement Development approval requires an amendment to the Wildridge Planned Unit Development to change the PUD Public Facility designation to an appropriate Community Housing zone district designation, subdivision to create the specific development parcel, and Avon voter approval to authorize the sale of the Community Housing units. Above: Basic Concept Evaluation Existing Site and Conditions Page 24 of 33 AVON NORTH Hidden Valley Estates HIDDEN VALLEY ESTATES Legal Description: HIDDEN VALLEY ESTATES SUBDIVISION Metcalf Road Property Size 7.2 Acres Industrial, with permitted use of Community Housing Zoning Light Industrual & Commercial Ownership Private Project Goals Development of a mix of 54 deed restricted townhomes/duplexes Infrastructure Infrastructure to support development has been installed Entitlements Avon approved a Development Agreement for the site r 1. Above Photo: 2026 Page 25 of 33 "ON TOWN CENTER The Sun Road Redevelopment Area The Sun Road Redevelopment Plan ("Sun Road Plan") is a sub -area plan that establishes planning goals and investment strategies to promote redevelopment of an approximate 8- acre area centrally located in the Town Core on the southwest corner of the I- A Avon 70/Avon Road Interchange. The Sun Road Plan area is substantially underdeveloped under the Town Center zoning, which allows high -density mixed -use development. The central location, proximity to Harry A. Nottingham Park, and convenient access to Avon Road and the I- 70 interchange present a unique opportunity for a high -quality redevelopment project that incorporates residential density into the Town Core. 91 Beaver Creek Place is located in the East Town Center subarea. This plan is currently being updated. This East Town Center Plan establishes a community based plan and vision for the redevelopment of the Plan area which best supports Avon's Comprehensive Plan goals, the Avon Community Housing Plan, the West Town Center Investment Plan, the Sun Road Redevelopment Plan, and the Avon Downtown Authority Development Plan. Existing development in the Plan area is substantially underutilized compared to development allowed under the Town Center zoning, and redevelopment of this area presents a unique opportunity to guide and support high density development to achieve many community goals. Slopeside, is not within either plan. However, its juxtaposition in the area of these two subareas is complimentary in that Slopeside will be a walkable neighborhood, slated as workforce housing. Page 26 of 33 1. Sun Road Redevelopment Area x. Property Size Zoning Ownership Project Goals Infrastructure Entitlements Sun Road Redevelopment Area AM Legal Description. - SUN ROAD REDEVELOPMENT AREA Sun Road/West Beaver Creek Blvd 5.4 Acres Town Center Mixed Private and Town of Avon A mixed -use, transit -oriented redevelopment project with 70,000+ sq.ft. of ground floor commercial space and 150-300 deed restricted Community Housing units Infrastructure to support development is available Development will require review of a Development Plan and a potential Density Bonus application. The Sun Road Plan area is substantially underdeveloped under the Town Center zoning, which allows high -density mixed -use development. The central location, proximity to Harry A. Nottingham Park, and convenient access to Avon Road and the 1-70 interchange present a unique opportunity for a high -quality redevelopment project that incorporates residential density into the Town Core. READ THE FULL PLAN - LINK SUN ROAD REDEVELOPMENT PLAN 2025 Page 27 of 33 2. 91 Beaver Creek Place (North Court) Legal Description.- 91 BEAVER CREEK PLACE - BENCHMARK AT BEAVER CREEK LOT Beaver Creek Plaza Property Size 0.57 acres or 24,829.2 sq. ft Acres Zoning 91 Beaver Creek Point: Shopping Center (Retired) (Sc) Ownership Town of Avon Project Goals A mixed -use, 3-4 story building with ground level commercial and -20-30 deed restricted housing units above Infrastructure Infrastructure to support development is available Entitlements Development will require a zone change to Community Housing, Mixed -use 91 Beaver Creek Place The 0.57-acre property is located in the East Town Center area. The property currently has a small commercial building, with opportunities for local businesses to lease until redevelopment occurs. Acquisition of this property presents a significant opportunity for future Community Housing units. The East Town Center District Plan anticipates redevelopment efforts that would increase residential density within the area. The Town of Avon possesses adequate water rights to support higher -density development in the Town Core and currently provides this property with access to Avon's complimentary transit services. The building itself is not in adequate condition for reuse, offering future owners the opportunity for newly constructed deed -restricted residences. Page 28 of 33 3. Slopeside Community Housing Legal Description: SLOPESIDE COMMUNITY HOUSING SITE — BENCHMARK AT BEAVER CREEK TRACT Y & SWIFT GULCH ADDITION LOT 2 Swift Gulch Road Property Size 3.41 ac and 1.43 ac. Totals: 4.8 ac or 210,830.4 sq. ft Zoning Community Housing High Density (CHHD-1) and allocated Public Facilities (East parcel) Ownership Town of Avon Project Goals Residential rental project of 106 units targeted at 80-100% AMI Infrastructure Infrastructure to support development is available Entitlements Development will require a zone change on the east parcel from to CHHD-1 (same as the west parcel); consolidation of the two parcels into one parcel through a Subdivision Amendment Slopeside The Future Land Use Map in the Avon Comprehensive Plan highlights these properties as both a gateway into Avon and a cornerstone property for Community Housing. Once rTf envisioned for 105 homes, the ` site was later transformed —its t-; west parcel preserved for ;F , ,� • , . open space, landscaping, and 7. drainage ("OLD"), while the east parcel was set aside for public use (Civic/Public Facility within the Swift Gulch Addition PUD). Today, these parcels offer more than just land: they feature a key stretch of the pedestrian and bike trail connecting Avon Road to Post Blvd, alongside the historic Nottingham Puder Ditch. Now, Slopeside is poised to shape the community's future with a bold proposal for a 106-unit Community Housing development that will reinvigorate this walkable area and address critical housing needs. Page 29 of 33 Village (At Avon) PUD Proposed Community Housing Sites 2026 The Village (at Avon) area presents valuable housing opportunities for both rental and ownership projects. CH1 and CH2 are both flat properties that contain all necessary unitalities in close proximity. With zoning secured for these sites via a PUD amendment in 2026, the design of projects can commence. Development of the East Avon Preserve is dependent on significant coordination for access and water service by future water tank(s) above the property. The timeframe for developing the East Avon Preserve is dependent on adjacent development, which triggers the implementation of a new water tank, making the timeframe much longer than CH1 and CH2. However, this site may open up the availability for the construction of a housing type no slated for any other Avon project. That being, possible duplex and or single family units (or a mix thereof). Page 30 of 33 1. Village (at Avon) — CH1 Community Housing Site Legal Description: CHI — Lot 8, VILLAGE (AT AVON) PUD East Beaver Creek Blvd. Property Size Approximately 1 acre * See Entitlement Needs below Zoning CH1 — Community Housing Per PUD Ownership Town of Avon Project Goals Within the Village (at Avon) and adjacent within the East Avon Preserve, create a variety of dedicated Community Housing Units with ownership and rental opportunities Infrastructure Infrastructure to support development is available Entitlements This development will need an amended plat to define this property and separate it from the neighboring Childcare Center property. Design Review approval by Village (at Avon) DRB Village (at Avon) 2026 — CH1/Lot 8, Future Community Housing Formally Lot 8, Planning Area F, this property has been conveyed to the Town of Avon by the Village (at Avon) as a condition of a joint PUD amendment application. The amendment changed the allocation of Lot 8 from PA-F (the same uses as permitted on the Piedmont parcel) to CH1 (Community Housing). Avon anticipates approximately 24 condominium units are possible for this property (see very basic analysis above), although an in depth site analysis has not been explored for development on this property. Staff performed a `fit' exercise to show a 80'x180' footprint (14,400 sq.ft.) condominium building that could serve units on two sides of a central corridor or drive path. Further design work and conceptual designs are required to confirm general layout and programming. The design plans will ultimately be reviewed by the Village (at Avon) Design Review Board. Page 31 of 33 3. Village (at Avon) — CH2 Community Housing Site: "'Avondale" h --- ------- -�= tl j Legal Description: CH2 — Lot 5, VILLAGE (AT AVON) PUD Yoder Avenue Property Size Approximately 3 acres * See Entitlement Needs below Zoning CH1 — Community Housing Per PUD Ownership Town of Avon Project Goals Within the Village (at Avon) and adjacent within the East Avon Preserve, create a variety of dedicated Community Housing Units with ownership and rental opportunities Infrastructure Infrastructure to support development is available Entitlements This development will need an amended plat to define this property and separate it from the neighboring Childcare Center property. Design Review approval by Village (at Avon) DRB Village (at Avon) 2026 — CH21Lot 5, Avondale Apartments Community Housing Council provided direction in early 2023 to proceed with due diligence for a Community Housing project on this property owned by Avon. This resulted in the creation of the "Avondale Apartments" community housing project, on Lot 5, a Town -owned property previously designated for Public Facilities within the Village (at Avon) PUD. Adjacent to Home Depot at the end of Yoder Ave. Much like the amendment for Lot 8 to CH1, Avon proposed updating Lot 5's designation to reflect its intended primary use as Community Housing, replacing the Public Facilities language but still permitting other public uses. Lot 5 is designated as Community Housing (CH2) within the PUD, providing clear guidance for this use. The zoning for CH2 now permits up to 40 units and up to a 60' building height. Design plans will be developed for this rental project, and presented to the Village (at Avon) Design Review Board for approval. Page 32 of 33 2. East Avon Preserve EAST AVON PRESERVE - Unplatted Wagon Trail Road Property Size 37.357 acres with 7-15 Acres (of potential development area) Zoning Public Facilities Ownership Town of Avon Project Goals Development of 100+ Community Housing units Infrastructure Construction of new water storage tank is required Entitlements Rezoning appropriate portions of the property to Community Housing, subdivision/platting The East Avon Preserve Parcel ("EAP") totals 85.99 acres and consists of two parcels. Avon acquired the EAP in 2013 from the United States Government through a Multi -Party Land Exchange agreement. Avon and Eagle County entered into an Intergovernmental Agreement, referring to the East Avon Preserve Parcel as the "Village Parcel." The agreement states that once the boundaries for "affordable housing" and community facilities are set and the road and trail alignments are determined, Avon will grant a conservation easement to a mutually acceptable land trust on the remaining acreage. The area was zoned Public Facilities ("PF") when it was acquired. Avon's plans identified the upper northeast corner as an area for potential housing. A slope analysis was conducted in 2022 slope analysis and a more refined potential development areas were identified (shown in the image above). Additional planning analysis is required to determine if additional area may be potentially developed for Community Housing and if wastewater infrastructure can serve additional density. Page 33 of 33 State Land Board Legal Description: UNPLATTED, DOWD JUNCTION Highway 6, Eagle -Vail Property Size 71 Acres Zoning General Commercial and Resource per Eagle County land use code Ownership State Land Board Project Goals 300 Community Housing units, developed in phases with an early phase of 100 units between US6 and the Eagle River and future phase of 200 units on the north side of the Eagle River Infrastructure Infrastructure exists on the south side of Eagle River for first phase. Significant infrastructure is required to extend utilities and vehicle access to the north side of the Eagle River. Entitlement Needs Annexation into the Town of Avon, zoning, and subdivision r2. Apartment Site �-4.60 acres River Corridor 20.54 acres 3. River North Parcel -53.14 acres Page 34 of 33 APPENDIX B: IMPLEMENTED COMMUNITY HOUSING STRATEGIES History of Accomplishments • Ordinance 2019-01, Community Housing Incentives for Sales Tax and Fee Waivers • Ordinance 2019-03, Inclusionary Housing regulations to include mitigation for new multi -family and commercial developments. • Ordinance 2019-06, Industrial Commercial Zone District Amendments to permit Community Housing as a Use by Right. 2 Deed Restricted for sale units constructed at One Waterfront Way. Council Resolution 2020-25, Approving Fee Waivers and Deed Restrictions for 9 Rental Units at 77 Metcalf. 1 Resident Occupied Deed Restricted for sale unit at Riverfront Lodge. Resolution 20-15, implementing the Mi Casa Avon Deed Restriction program. There have been 57 Mi Casa Avon deed restrictions recorded on free market units. • 2 Resident Occupied Deed Restricted Units at Frontgate. • Council Resolution 2021-08, Approving Fee Waivers for Capital Improvement Project at 1011 West Wildwood Road. • Ordinance 21-13 Amending the Avon Community Housing Plan. Council Resolution 2021-20, Approving Short -Term Rental Tax Ballot Question for Community Housing funding. • Purchase of Metcalf Lofts G20 for use as Employee Housing. • 2023, created a full-time Housing Planner position. • Ordinance 23-18, adopting All Electric, Net Zero Energy Use Policy for Community Housing Projects. Ordinance 23-30, The Avon Community Housing Policies (circa 1990/1991) were replaced in their entirety in 2023. • 4% Use Tax on construction and building materials passed by voters in November 2024, funding Community Housing. • Ordinance 24-01, creating Community Housing Zone District. • Ordinance 24-04, Rezoned Tract Y from OLD to Community Housing High Density-1. • Resolution 24-10, Employee Housing Plan implemented. Downtown Development Authority formed with a portion of funds allocated to Community Housing. • 2024, Recipient of DOLA's Local Capacity Planning Grant in the amount of $160,000 to investigate the feasibility of a Multijurisdictional Housing Authority. Page 35 of 33 • One (1) Resident Occupied Deed Restricted Unit constructed at Kestrel. • Ordinance 25-01, The Avon Community Housing Policies updated. Purchase of 3008 Wildridge Rd 1A for use as Employee Housing. • Resolution 25-13, approving the purchase of 15 Sun Rd for eventual redevelopment, inclusive of Community Housing. • 2025: Replacement Price Capped Deed Restriction is available for units with old deed restrictions that do not reflect current practices, policies, and provisions. The new version offers updated Permitted Capital Improvements for owners as a predominant upgrade. • Eagle County Regional Housing Needs Analysis was completed in 2025. • Partnership with Eagle County for Good Deeds Avon, offering buyers a 30% cash payment in exchange for recording a Price Capped Deed Restriction on a free market home at closing. • 10 Good Deeds Avon Price Capped Deed Restricted Units in Avon in 2025. • Resolution 26-01, approving the purchase of 91 Beaver Creek Place for eventual redevelopment, inclusive of Community Housing • Ordinance 26-02, approving Village (at Avon) PUD Amendment, permitting Community Housing on CH1 and CH2 including the conveyance of CH1 to the Town of Avon. Page 36 of 33 APPENDIX C: INCOMES Area Median Income for Eagle County in 2026 Household Size 1 2 3 4 5 6 AMI Classifications 30% AMI (Extremely Low) $ 29,130 $ 33,300 $ 37,470 $ 41,610 $ 44,940 $ 48,270 50%AMI (Very Low) $ 48,550 $ 55,500 $ 62,450 $ 69,350 $ 74,900 $ 80,450 60%AMI (LIHTCMaximum) $ 58,260 $ 66,600 $ 74,940 $ 83,220 $ 89,880 $ 96,540 80% AMI (Low) $ 77,680 $ 88,800 $ 99,920 $ 110,960 $ 119,840 $ 128,720 100% AMI (Median) $ 97,100 $ 111,000 $ 124,900 $ 138,700 $ 149,800 $ 160,900 120% AMI $ 116,520 $ 133,200 $ 149,880 $ 166,440 $ 179,760 $ 193,080 140% AMI (Moderate) $ 135,940 $ 155,400 $ 174,860 $ 194,180 $ 209,720 $ 225,260 Affordable Home Calculation by AMI, 2026 AMI% 30% 60% 80•0 100% 120% 140% Household Income - 2 persons $ 33,300 $ 66,600 $ 88,800 $ 111,000 $ 143,880 $ 155,400 Affordable Monthly Payment (30%) $ 833 $ 1,665 $ 2,220 $ 2,775 $ 3,597 $ 3,885 HOA, taxes, insurance (20% of pmt) $ 167 $ 333 $ 444 $ 555 $ 719 $ 777 Maximum Mortgage Payment $ 666 $ 1,332 $ 1,776 $ 2,220 $ 2,878 $ 3,108 Maximum Mortgage Amount $ 122,765 $ 245,530 $ 327,373 $ 409,217 $ 530,433 $ 572,903 Less: Closing Costs 1.5% $ (1,841) $ (3,683) $ (4,911) $ (6,138) $ (7,956) $ (8,594) Plus: Down Payment 10% $ 12,276 $ 24,553 $ 32,737 $ 40,922 $ 53,043 $ 57,290 Maximum Purchase Price $ 133,200 $ 266,400 $ 355,200 $ 444,000 $ 575,520 $ 621,600 Freddie Mac 30 year historical average 6.51 % 6.51 % interest rate 5/21/2026 Affordable Rent $ 833 $ 1,665 $ 2,220 $ 2,775 $ 3,5G7 $ 3,885 Affordable purchase prices were calculated assuming that a household would have 10% for a down payment and would qualify for a loan at 30% of their monthly income. HOA, property taxes and insurance of 20% were included in Mortgage Amount. The Maximum Mortgage assumes an interest rate of 6.51 %, which is Freddie Mac's historical average over the past 30 years for a 30-year fixed rate mortgage. Interest rates have risen since 2023, adversely impacting affordability. MEDIAN HOME PRICE $1,060,863 AFFORDABILITY GAP $616,863 AVERAGE HOUSEHOLD BUYING POWER $444,000 Page 37 of 33 APPENDIX D: Definitions & Best Practices Topic Process, Method, or Definition Jurisdiction Frequency Carbondale, Eagle, Inclusionary Either Recommended A percentage of residential units in new subdivisions/ PUDs Eagle County, San Housing (e.g., Eagle County) or are restricted for workforce housing. Miguel County, Required ( e.g., Eagle) Eagle, Crested New residential and/or commercial development to contribute Butte to workforce housing relative to demand generated by the Employee Linkage) Typically Required in new construction. For residential, mitigation rate often Avon, Telluride, Mitigation Codes increases based on square footage, and deed restricted units Aspen, Mt. Crested are typically exempt. Fees in lieu provide revenue stream Butte, Vail that fluctuates with building activity. Documented relationship between fee and impact required. Water/sewer tap fees, building permit or other fees waived in Avon, Fee Waivers Available — part or whole to reduce cost to build affordable housing. Breckenridge, Development Specific General funds or other source need to cover cost of fees Crested Butte, waived. Eagle County, Vail Funding is a core component of building housing and running successful housing programs. Few programs begin with funding; rather, finding funding is an incremental process that Avon, Summit Dedicated Funding goes hand in hand with creating goals and objectives, County, Steamboat Source Varies developing policies, securing appropriate land for housing, Springs, Crested and moving forward with public/Private partnerships. Butte, Aspen, Dedicated funding sources take many forms including grants, Telluride fee in lieu payments, taxes, voluntary assessments, proceeds from rents or sales. Partnering with developers to build attainable units, typically Avon, Eagle Public/Private on publicly owned sites, or using other public resources such County, Vail, Partnerships Common as property tax exemption. RFQ/RFP process effective for Breckenridge, selecting development partners. Ownership of land can be Boulder retained with long-term land leases to operators. An individual who is an employee working in Eagle County Qualified Employee Typically Required and yp y q who works an average of at least thirty (30) hours per week Avon, Vail, Eagle, / Eligible Vetted by Jurisdiction on an annual basis or earns seventy-five percent (75%) of his Eagle County Household or her income and earnings by working in Eagle County; or a retired individual, sixty (60) years or older, who has worked a Page 38 of 33 Topic Process, Method, or Definition Jurisdiction Frequency minimum of five (5) years in Eagle County for an average of at least thirty (30) hours per week on an annual basis; or a person who derives income from self-employment whose business is situated in Eagle County; or a person who works for an employer outside Eagle County if that person can demonstrate that the residence subject to this deed restriction is the primary residence for that person Avon, Eagle Buy Down of Usually involves buying down units with public funds through County, Eagle, Vail, Market Homes deed restrictions imposed for permanent affordability. Breckenridge, Whitefish MT, Requiring replacement of housing occupied by the workforce Telluride No Net Loss Policy Typically Required in when redevelopment occurs. Similarly priced units should be Boulder, Basalt Code replaced on site, or another site, or a fee -in -lieu of replacement could be allowed. Additional Terms and Definitions can be found in the Avon Comprehensive Plan and Avon Community Housing Policies. AV ®rl Community Housing Programs: A on ;Mi Casa Avon! is a program to incentivize prospective _..' homebuyers to place a deed restriction on their property to,, ensure more permanent residents have an opportunity to purchase homes within Avon. There is no price appreciation cap on a iMi Casa Avon! Deed Restriction. This deed restriction is an agreement between you, the new homebuyer, and the Town of Avon that limits the use of your property. In this case, the deed restriction limits Eagle County employees' ownership and use of the property. In exchange for the deed restriction, the Town of Avon pays you a lump sum through the iMi Casa Avon! Program to help offset the purchase price. Good Deeds Avon is the first partnership launched under Housing Eagle County's Community Partner Program, co - designed with the Town of Avon to set a new standard for regional collaboration. Avon's investment is matched one- to-one by the Eagle County Housing and Development Authority (ECHDA), providing up to a 30% buy -down of the purchase price on eligible open -market homes within Avon's jurisdictional boundary. Municipal Employee Home Ownership Program ("MEHOP") is a payment assistance program for Avon Employees to support home ownership whereby the Town will provide up to 30% of the purchase price of a home in exchange for recording a price capped deed restriction on an open market property. Avon Council adopted the Town of Avon Municipal Employee Housing Plan in 2024 setting goals to provide more housing and approved a deed restriction purchase program to help Town of Avon Employees purchase an affordable home. Page 39 of 33 APPENDIX E: HOUSING NEEDS ANALYSIS 2025 Eagle County Regional Housing Needs Analysis6 PE - Eagle County Housing Partners Economic&Planning5ystenss,lnc. RRC ............. �I FI HARM for Hum -HY NovcmDer ). 2035 M 1233169 6 Pathway https://www.avon.org/DocumentCenter/View/25670/2025-EC-Regional-Housing-Needs-Assessment---Final?bidld= Page 40 of 33 ATTACHMENT B - TAX INFORMATION Town Of Avor Town7ofAvon(Sales Tax) 4.00% Eagley (Sales Tax) 1.50% State of Colorado ( Sales Tax) 2.90% 0.79% Eagle River Fire Protection (Sales Tax) CORE Region Transit Authority (Sales Tax) 0.50% Town of Avon (Accommodations Tax) 4.00% Town of Avon (Short Term Rental Tax) 2.00% Total 15.69% Tax • Breakdown Accommodations Town of Avon (Sales Tax) 4.00% Eagle County (Sales Tax) 1.50% State of Colorado ( Sales Tax) 2.90% Eagle River Fire Protection (Sales Tax) 0.79% CORE Region Transit Authority Sales Tax 0.50% Town of Avon (Accommodations Tax) 1 4.00% Total 1 13.69% Total Sales 56,132,948.50 2022 Short -Term $1,122,659 Rental Tax $1,683,988 - ' $2,245,318 ' $2,806,647 51,909,644.50 2023 $1,038,193 $1,557,289 $2,076,386 $2,595,482 50,005,862.50 2024 $1,000,117 $1,500,176 $2,000,235 $2,500,293 52,068,794.50 2025 $1,041,376 $1,562,064 $2,082,752 $2,603,440 47,906,750.00 2026 $958,135 $1,437,203 $1,916,270 $2,395,338 $5,160,480 $7,740,720 $10,320,960 $12,901,200 Total difference vs 2% 2022-2026 $0 $2,580,240 $5,160,480 $7,740,720 2022 $0 $561,329 $1,122,659 $1,683,988 2023 $0 $519,096 $1,038,193 $1,557,289 2024 $0 $500,059 $1,000,117 $1,500,176 Total $0 $2,580,240 $5,160,480 $7,740,720 ATTACHMENT B - TAX INFORMATION Short -Term Rental Tax by Rate (2022-2026) $3,000,000 $2,500,000 v $2,000,000 QJ $1,500,000 $1,000,000 $500,000 $0 Year 2022 2023 2024 ■ 2% ■ 3% ■ 4% ■ 5% 11111111 2025 2026 (Projected) Additional Tax Revenue vs 2% Rate by Year $2,000,000 $1,683,988 $1,557,289 $1,500,176 $1,562,064 a $1,500,000 $1' N v $1'1 $9 v $1,000,000 v 0 $5 $51 $5111 $5 $41 $500,000 $0 $0 $0 $0 ■ ■ ■ 2022 2023 2024 2025 2026 Year (Projected) Series1 Series2 Series3 437,203 4% Accommodations Tax by Year $2,550,000 $2 61 ■ $2,500000 $2,450:000 $2,400,000 QJ $2,350,000 $2 47 $2,300,000 $2 26 v $2,250,000 $2 28 v $2,200,000 $2,150,000 $2 48 b $2,100,000 ~ $2,050,000 $2,000,000 $1,950,000 $1,900,000 $1,850,000 2022 2023 2024 2025 2026 Year ATTACHMENT B - TAX INFORMATION Ski Resort Aspen Colorado Ski Resort. 9.30% .. . ..• 12.00% -. Total 21.30% Avon 9.69% 6.00% 15.69% Avon (Village) 10.44% 6.00% 16.44% Beaver Creek 10.25% 4.96% 15.21 % Breckenridge 8.88% 3.40% 12.28% Copper 10.38% 6.00% 16.38% Crested Butte 13.40% 7.50% 20.90% Keystone 6.375% 8.375% 14.75% Mountain Village 9.47% 4.00% 13.47% Snowmass 10.40% 2.40% 12.80% Steamboat Springs 9.90% 10.00% 19.90% Telluride 9.47% 7.75% 17.22% Vail 9.40% 1.40% 10.80% Winter Park 10.20% 3.00% 13.20% ATTACHMENT C — INCLUSIONARY HOUSING PROGRAMS Mandatory Inclusionary Housing Programs in Colorado: Rural Resort CO Communities Year Ownershi Project Affordability Name Title Adopted I Geography p vs. minimum requirement Compliance options Affordability term AMI Level Incentives Updated rental Community _ Housing ' 2001 / Entire Ownership 5 units 20% of units (15% On -site units, off -site units, buy down units, In perpetuity Mix of 80-150% AMI Fee reduction/waiver Inclusionary 2016 jurisdiction and rental of bedrooms) fee in -lieu Requirements . • - Affordable 2004 / Entire Ownership 25% of units, or 15% of total square footage, off -site units On -site units, ,rehab regulated ° 80-100 /° Rental 100- Discretionary incentives: fee in Housing 2014 jurisdiction and rental 4 units or 45% of new units, renovate unregulated units, in -lieu fee, In perpetuity 140% Ownership lieu, land in lieu, density/height Guidelines employees donate land, other bonus Inclusionary • residential 2002 / Entire Ownership 80% or less for Fee in lieu, land in lieu, zoning, _ requirements for ' 2023 jurisdiction and rental 10 units ° ° 15% PC / 35 /o RO On -site units, off -site units, redevelopment In perpetuity ° Rental, 140 /o or less density, height, fee waiver local employee for Ownership residency Affordable and Entire Ownership Density bonus, site design Workforce 2021 jurisdiction and rental 10 units 10% of units On -site units, land donation 30 years 100% AMI flexibility, public -private Housing partnerships, tax rebate Inclusionary 2003 Entire Ownership Single family less than ° 15% of units On -site units, off -site units, in -lieu fee In perpetuity ° 120 /o AMI None Zoning jurisdiction and rental 2,700 sq. ft. Inclusionary ' 2018 / Certain zones, neighborhoods, g Ownership 5 units 16.7% of units On -site units, off -site units, in -lieu fee, In perpetuity 80% AMI rental 120-160% AMI Density bonus, reduced parking Housing 2022 or districts and rental donate land ownership requirements, concessions Tier based on square Affordable • - Housing 200 Entire Ownership N/A Calculated basea On -site units, in -lieu fee, other In perpetuity footage required Target: 70-150 AMI Fee reduction/waiver including Mitigation jurisdiction and rental on square footage Limit: 120 /0-220 /o water fees AMI Affordable A • • Housing 1977, Entire Ownership unknown Calculated based On -site units, off -site units, rehab regulated 30 years ° 0-240 /o AMI None Mitigation jurisdiction and rental on square footage units, renovate unregulated units, in -lieu fee Residential 1999 % Entire Ownership 20% of new units or 100% AMI rental, Inclusionary 2015 / jurisdiction and rental 2 units 25% of square footage On -site units, off -site units, in -lieu fee, other In perpetuity 120 /° AMI ownership, Fee reduction/waiver, other Requirements 2024 allows averaging Fair Share Housing 2009 / 2014 Entire jurisdiction Ownership 4 units 16% of all units On -site units, fee in lieu, land donation In perpetuity 80%-125% AMI Fee refunds and waivers Source: Jurisdiction Municipal Codes and Grounded Solutions IZ database A Avon jj[��'�j AVON PLANNING & ZONING COMMISSION Meeting Minutes (DRAFT) Monday, July 13, 2026 Public Meeting Begins at 5:30 PM TEAMS LINK: https://teams.microsoft.com/meet/240853380295912?p=HHV4SWKKx5pEP5QQic To join meeting via phone, dial (945) 468-5504 and enter conference ID: 477 057 969# 1. Call to Order and Roll Call (Chairperson) — 5:30 PM Meeting commenced at 5:30 PM. A rollcall was taken, and Planning Commissioners Carly Hansen, Brad Christianson, Brian Sipes, Elizabeth Waters, Nancy Tashman and Nicole Murad were present. Commissioner Rick Sudekum was absent. Also present were Planning Manager Jena Skinner, Planner II Claire Perez, Housing Planner Patti Liermann, Community Development Director Matt Pielsticker. 2. Approval of Agenda ACTION: Commissioner Christianson made a motion to approve the agenda. Commissioner Hansen seconded the motion, and the motion passed unanimously 6-0. 3. Disclosure of any Conflicts of Interest or Ex-Parte Communication Related to Agenda Items 4. Public Comment— Comments are Welcome on Items Not Listed on the Following Agenda Public Comments are limited to three (3) minutes. The speaker may be given one (1) additional minute subject to Planning and Zoning Commission approval. 5. Public Hearing 5.1. MNR26-010 Exterior Remodel at 5580 Coyote Ridge — Claire Perez, Planner II ACTION: Commissioner Tashman made a motion to approve the application with conditions recommended by staff, with an added condition that materials as represented by the architect will be carried over to the building permit process, specifically related to recommended lighting changes. Commissioner Murad seconded the motion, and the motion passed unanimously 6-0. 5.2. CPA26-001 Community Housing Plan Updates (continued from June 22 meeting) — Jena Skinner, Planning Manager ACTION: Commissioner Waters made a motion to recommend approval of CPA26-001, with a recommendation to include stronger language in the housing plan that supports extremely low income, very low income, and low income households and addresses environmental and climate justice. Commissioner Tashman seconded the motion, and the motion passed unanimously 6-0. 6. Consent Agenda MEETING AGENDAS AND PACKETS ARE FOUND AT: WWW.AVON.ORG MEETING NOTICES ARE POSTED AT AVON TOWN HALL, AVON RECREATION CENTER, AVON ELEMENTARY AND AVON PUBLIC LIBRARY INDIVIDUALS WITH DISABILITIES ARE ENCOURAGED TO PARTICIPATE IN ALL PUBLIC MEETINGS SPONSORED BY THE TOWN OF AVON. IF YOU REQUIRE A DISABILITY ACCOMMODATION, PLEASE CONTACT THE COMMUNITY DEVELOPMENT DIRECTOR, MATT PIELSTICKER, AT (970) 748-4413 OR MATT@a AVON.ORG WITH YOUR REQUEST. REQUESTS SHOULD BE MADE AS SOON AS POSSIBLE BUT NO LATER THAN 72 HOURS BEFORE THE SCHEDULED PUBLIC EVENT. A Avon C O L 0 R A D O 6.1. June 22, 2026 Planning and Zoning Commission Meeting Minutes ACTION: Commissioner Sipes abstained from the vote since he was not present for the June 22 meeting. Commissioner Tashman made a motion to approve the meeting minutes. Commissioner Hansen seconded the motion, and the motion passed unanimously 5-0. 7. Future Meetings 7.1. July 27, 2026 7.2. August 10, 2026 8. Recently Approved Applications 9. Staff Updates 10. Adjourn The meeting was adjourned at 7:44 PM APPROVED: X CHAIRPERSON MEETING AGENDAS AND PACKETS ARE FOUND AT: WWW.AVON.ORG MEETING NOTICES ARE POSTED AT AVON TOWN HALL, AVON RECREATION CENTER, AVON ELEMENTARY AND AVON PUBLIC LIBRARY INDIVIDUALS WITH DISABILITIES ARE ENCOURAGED TO PARTICIPATE IN ALL PUBLIC MEETINGS SPONSORED BY THE TOWN OF AVON. IF YOU REQUIRE A DISABILITY ACCOMMODATION, PLEASE CONTACT THE COMMUNITY DEVELOPMENT DIRECTOR, MATT PIELSTICKER, AT (970) 748-4413 OR MATT@a AVON.ORG WITH YOUR REQUEST. REQUESTS SHOULD BE MADE AS SOON AS POSSIBLE BUT NO LATER THAN 72 HOURS BEFORE THE SCHEDULED PUBLIC EVENT. PLANNING AND ZONING COMMISSION FINDINGS OF FACT AND RECORD OF DECISION DATE OF PUBLIC HEARING: TYPE OF APPLICATIONS: PROPERTY LOCATION: FILE NUMBER: APPLICANT: July 13, 2026 Minor Development Application 5580 Coyote Ridge, Lot 21, Block 4 MNR26-010 Michael Dire, Aresano Avon C O L O fl A 0 0 This Record of Decision is made in accordance with the Avon Development Code §7.16.010(F)(1) PZC DECISION ON #MNR26-010: Approved with Conditions GENERAL CRITERIA FINDINGS §7.16.020(f)(1) — General Criteria 1. The development applications are complete; The development applications provide sufficient information to allow PZC to determine if it complies with the relevant review criteria; 3. The development applications comply with the goals and policies of the Avon Comprehensive Plan; and 4. The demand for public services or infrastructure exceeding current capacity (e.g., water, sewer, and storm drainage) does not require mitigation at this time and will be coordinating prior and during the next phase for the building permit. §7.16.080(g) — Development Plan (Minor) Review Criteria Evidence of substantial compliance with the purpose of the Development Code as specified in Section 7.04.030, Purposes has been provided and is generally sufficient for this review; The application provides sufficient information to allow the PZC to determine that the application complies with the relevant review criteria; The development is in compliance with most of the applicable development and design standards set forth in this Code, including but not limited to the provisions in Chapter 7.20, Zone Districts and Official Zoning Map, Chapter 7.24, Use Regulations and Chapter 7.28, Development Standards, and remains generally consistent with the previous approval for the existing use. 4. The mixed -use and nonresidential design standards sufficiently protect and preserve the quality and character of the built environment in the Town with respect to the impacts of its design upon the community; 5. The development can be adequately served by public services, including but not limited to roads, water, wastewater, fire protection and emergency medical services; and 6. The development design conforms with the character of the surrounding community; and to the character of Avon as a whole. PZC Record of Decision: MNR26-010 Proposed Conditions: 1. Prior to the issuance of a building permit, the drainage and construction encroachment agreement affecting the neighboring property, submitted with this application in the form of an approval letter prepared by Kerrigan Engineering, shall be updated to acknowledge all proposed encroachments and specify that any encroachments may be subject to removal at the property owner's expense. The updated agreement shall be recorded with the Eagle County Clerk and Recorder. 2. The following condition from Engineering shall be included with the building permit: The Town's acknowledgement of the proposed utility easement encroachments does not exempt the property owner from obligations to utility providers, government agencies, or future development code requirements. If future access is needed, any encroachments may need to be removed at the property owner's expense. 3. All material representations by the applicant concerning lighting shall be considered a condition of this approval, to be demonstrated with the pending building permit. THESE FINDINGS OF FACT AND RECORD OF DECISION ARE HEREBY APPROVED: BY: PZC Chairperson PZC Record of Decision: MNR26-010 DATE: