Pitkin County to consider $1 million for West Mountain Regional Housing Coalition 'Good Deeds' buy-down program

Pitkin County commissioners on April 8 heard a presentation from the West Mountain Regional Housing Coalition (WMRHC) on its Good Deeds buy-down program and signaled support for a near-term county contribution. Staff and coalition leaders asked the board to consider using funds from the county's recently approved 1.5‑mill housing property tax to expand the program.

County staff explained the county’s newly established housing property tax (a 1.5‑mill levy approved by voters for 25 years) and how the county budget allocated a portion of 2025 funds to partnerships. The 2025 budget included funds set aside to allow rapid responses to partner requests; staff told the board there is money currently available in the partnership allocation should the board choose to act quickly.

April Long, Executive Director of WMRHC, described the Good Deeds program as a buy-down model that converts free-market homes to permanently affordable units by placing a capped deed restriction on the property. The coalition pays roughly 30% of a home's purchase price while the buyer provides the remaining 70%; buyers must use the property as their primary residence, may not rent it, must requalify annually and may not own other residential property. Resale is governed by a capped, 3% annual appreciation formula so the home remains affordable for future eligible buyers.

Long said the coalition launched Good Deeds with a $2 million program budget and has already spent roughly $2.25 million in 2024–2025 to permanently secure nine homes (28 bedrooms) across the region, including several homes that now shorten commuting distances for working residents. She said the program’s buyers include school employees, medical staff and other locally serving workers, with income profiles spanning roughly 40% to over 200% of area median, depending on jurisdiction.

County staff outlined the property-tax ballot language and the fiscal picture for 2025: the county expects about $8.5 million this year from the mill levy and the 2025 budget also folded in $4.5 million the board had previously set aside from general fund housing dollars. Staff presented a planned line-item structure that year, with approximately $2 million for acquisitions, $9 million for partnerships, $400,000 for reducing homelessness impacts, and $200,000 for capital maintenance; funds available for partnership grants were the likely source for a Good Deeds award.

Board discussion focused on how the Good Deeds buy-down model fits with other housing tools, its leverage and scale, and how to fund it beyond a single year. Commissioners asked for additional market analysis (e.g., how many for-sale homes in an appropriate price band would be candidates for buy-downs annually), clarified how the program handles deed-restricted portfolio conservation and asked whether neighboring counties (Garfield, Eagle) might contribute. Several commissioners characterized buy-downs as efficient compared with new construction for immediately creating permanently affordable units.

Outcome and next steps

The board directed staff to produce a draft resolution for the upcoming regular meeting that would allocate $1,000,000 from the property tax partnership line to the West Mountain Regional Housing Coalition’s Good Deeds program for 2025 and requested that staff include a recommendation to consider an additional $1,000,000 allocation in 2026 budget discussions. Commissioners asked staff and coalition leaders to return with market-sizing data, cost-per-bedroom analysis, and plans for regional fundraising and partnership to scale the program.

Why it matters

The Good Deeds program is a demand-side, conservation-oriented tool to increase permanently affordable homeownership in a market where median prices have outpaced local incomes. By purchasing properties in the active market and placing long-term deed restrictions, the program aims to preserve housing for working locals and limit investor capture of housing stock.

What staff will return with

- Draft resolution and proposed agreement language for board consideration at a regular meeting. - Market analysis estimating the annual pool of candidate homes and projected buy-down capacity for $1M and $2M annual funding levels. - Clarification of how the county’s property-tax partnership line pays into the program and whether funds are one-time or recurring.