Pitkin County approves $1 million grant to Good Deeds program to buy deed-restricted homes
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Summary
The board approved a $1 million grant agreement with the West Mountain Regional Housing Coalition to expand the Good Deeds program, which buys market homes and records deed restrictions to preserve affordability for local workers.
Pitkin County commissioners on Feb. 11 approved a second-reading resolution to provide $1,000,000 from the county's housing-property tax (affordable and workforce housing mill levy) to the Good Deeds program, run by the West Mountain Regional Housing Coalition.
April Long, executive director of the housing coalition, described the program’s model: purchase market homes for qualified local buyers and place deed restrictions that preserve affordability for future sales. "With that funding, we help local qualified buyers purchase homes off of the free market and in exchange for a deed restriction that locks that home into a more affordable price moving forward," Long said.
Coalition staff said the program has received roughly $4.5 million from local government partners over the last two years, secured 20 homes and housed more than 30 local employees across the valley; this year the coalition is seeking to grow total funds to $2.5 million to acquire roughly 11 additional homes and meet a goal of 30 homes by 2026. Local partners including Snowmass, Glenwood Springs and Carbondale have committed funding and other partners such as CMC were reported to be contributing.
The board approved the grant unanimously; staff said they will return with an update from the coalition midyear.
