ISSUE # 10 ... CIVIL COMMOTION, CONDO-STYLE
Ants Un-Nerved
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-The due diligence process for a condo buyer will be nearly impossible. Imagine having to prove whether or not a local worker (never mind this "local worker" is undefined) EVER lived in a specific unit! -Lenders, as if they are not nervous enough already in the current market, will be ESPECIALLY wary of this due diligence process and valuation issue. -And realtors, how do you plan to disclose the ramifications of Ordinance #22 to your condo and townhome buyers and sellers? Will contractual materials mandate a lifetime history (rental and ownership) that indicates whether or not residents were "local workers?" -This regulation likely will have the perverse result of causing condo owners and HOAs to preclude renting/selling to local workers to avoid tainting the units for future mitigation requirements. |
Civil Commotion as a Commodity? |
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Yes, There ARE Options |
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The Ant has made it easy to make your voice heard. |
To send your recommendation for Option 8 to the Mayor and City Council members, CLICK HERE . You will be asked for your name, local address, and an email will automatically be sent to each of them expressing your view. You may edit or make additions to the email text.
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Be There! Council Needs To See Your Concern |
The Red Ant will be at Monday's City Council meeting to promote Option 8. But this measure needs a large chorus of voices to make an impact on Council. Please join us in Council Chambers to speak to this issue. The meeting starts at 5 p.m. However, this item is well into the meeting agenda. |
Reader Comments (16)
Dear City Council,
I am an Aspen resident and own a condo in the core. I have reviewed Ordinance 22 and the proposed amendments to it, along with the city Staff's proposed options for further amendments. I strongly support option #8 i.e. elimination of the Ordinance in its entirety.
Without addressing the obvious Constitutional issues, I believe that the Ordinance is inherently unfair and inequitable. The Aspen homeowners that can least afford to pay the full brunt of the cost of affordable housing are being required to pay for a disproportionate share when their complex ages and needs to be redeveloped. This requirement of the lowest economic end of the free market owners makes this an incredibly regressive tax on this class of homeowners. If the perceived benefit of providing affordably housed workers is worth it to the recipients of such services, then a more equitable allocation of these costs among the perceived beneficiaries should be made. And who are these perceived beneficiaries? Its all the tourists(that pay no RETT nor contribute in any other financial way to the Aspen affordable housing program),employers(who reap the benefit by having a pool of City subsidized workers that they can pay less in wages than they ordinarily could),all Aspen residents(some of which contributed to the program through the RETT, others that are forced to build affordable housing when their complexes are redeveloped and some that rent and pay nothing towards the program) and of course the affordably housed residents that get to live in this incredible place and be subsidized by the rest of the population. There should be a comprehensive plan on what the majority of the population of this City wants to pay for affordable housing and then a plan to evenly distribute the cost among all of the perceived beneficiaries.
Under this ordinance, on a "best case" basis where a condo complex's age warrants redoing it and it has adequate excess unused density, the existing owners will have to essentially pay double the construction cost to redo their complex--once to rebuild their own units and a second time for the affordable units. In a "worst case scenario" where there is no excess unused density, the existing owners will have to let their aging complex deteriorate or build affordable housing on their land for free and no longer be qualified to live there. This is so incredibly inequitable, whatever the original intention of the ordinance was in 1988, it has turned into a perverse means to add to the affordable housing stock in this city. And one last thing--as the owner of an existing condo in the core, I resent being treated as some "fat cat" that can afford to pay for the "local workers" housing--the implication is that just because I'm retired and live here means that I didn't work long and hard for my money to buy into this very expensive town and that I can afford to pay for "local workers" housing. I was part of the "working class" my entire life and am now part of the "retired class". I deserve to be treated as well as the "local workers"--the difference is I worked my entire career 1st before I could afford to move and buy here. The "local workers" intentionally made their choice to live in a very expensive place before they worked and earned enough money to live here and are not entitled to have their housing needs provided by others in disproportionate relationship to the benefits received.
Tim Wagner