LOCAL NEIGHBORHOODS
Neighborhood Summary:
# of Units: 16 rent restricted, 16 no
short-term rental
Density: 24 UPA
Type: 1-bd & 2-bd Apartments
Initial Rent: 85% AMI
Occupancy: Renter Occupied
Neighborhood Amenities: Proximity
to Rec Path, Public Transit
Restriction Summary:
Occupancy: 16 units require 30+ hours per week of employment in Summit County.
Rent: 16 units at 85% AMI rental rates. No Short Term Rental Allowed.
Master Lease: Allowed.
This project is was developed by the private sector. A development agreement was crafted with the developer and the Town where the Town contributed land and waived fees in return for deed restricted units. This project received approximately $150,000 in PIF and planning fee waivers. The owner will control the management of the property and select the tenants are as long as they meet the employment requirements in one of the rent restricted units.