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Six Ilium Valley homes sold to ski‑area employees; county asks for notification if contracts fall through
Summary
County staff reported that six single‑family homes required to be sold in Ilium Valley are under contract with ski‑area employees and closings are expected between May 30 and July 10; the county asked TSG/TSG‑affiliated seller to notify county attorney when any contract fails so the regional housing authority can re‑offer the property.
Sherry Reeder (presenting for TSG/Tel(s)ky) told the San Miguel County commissioners on May 14 that all six homes required for sale in Ilium Valley are under contract to ski‑area employees at favorable financing terms. She said three buyers have requested earlier closings and staff are working with title companies and the housing authority to expedite those where possible.
Reeder said the vacant lots in Ilium Valley are under contract with the school district with a lengthy contingency period to allow the district to negotiate county agreements. She gave a rolling closing window of May 30 to July 10 for the six houses if title and housing authority processing proceed normally, and noted backups are available should any buyer drop out.
Commissioners and county attorney Maura Fahey asked that if a contract falls out, TSG notify county counsel so the county and the San Miguel Regional Housing Authority (SMRHA) can follow the plan to put the house on the regional housing authority list within a specified timeframe. Sherry Reeder agreed to a two‑week window for TSG to line up a backup buyer from its internal waitlist; after two weeks staff will ask TSG to list the property with SMRHA. The county requested written confirmation of that agreement and asked for email updates when closings occur or when a contract fails.
County staff said transfer and real‑estate transfer assessments associated with closings will be processed per prior agreements and revenue splits noted in county practice; some fees pass to Smart (regional transportation) or the housing authority per the local agreements.
The board asked for a brief email status update from Reeder when houses close or change status; staff will track compliance with outstanding notice of violation items and other project deliverables.
