Dear Telluride Homeowners & Residents,
In response to the current citizen’s initiative, to cap rental business licenses, local community members have drafted an alternative ballot measure. The Housing Affordability Referendum is a proposal that can unite affordable housing advocates and our government and business leaders. It can help us all achieve consensus on – finally – moving beyond rhetoric to responsible and meaningful action.
What is the Telluride Housing Affordability Referendum? The Telluride Affordable Housing Referendum will directly address our town’s affordable housing needs by:
- Transferring $2 million from the town’s Real Estate Transfer Tax (RETT). Telluride’s RETT revenue has risen dramatically thanks to our town’s robust real estate market. Mayor Young in her recent State of the Town address said the revenue has reached “unseen heights”. We should invest this windfall in affordable housing efforts.
- Enacting a 100 percent increase in the licensing fees for all Short Term Rental properties.
This would generate a total of $2.2 million and would be used to create a Workforce Affordable Housing Fund that would:
- Fund and finance the development and preservation of temporary and affordable workforce housing, including the acquisition of land.
- Provide direct, need-based rental assistance to workers employed in our town.
The referendum would also pause the number of Short Term Rental licenses at the number in place on Election Day this November.
Contact Adam Black for more information 970-729-0568