Keystone council approves facility-use fees and allows 457(b) participant loans

The Keystone Town Council approved two separate measures on June 30: a fee schedule for town facility rentals and a policy change authorizing participant loans from the town’s Colorado Retirement Association 457(b) deferred compensation plan.

On Resolution 2026-21, town staff explained the fee structure for use of the meeting room and town facilities. As the manager put it during the presentation, “for both local community organizations and other eligible organizations, the fees would be set at $50 an hour, a max of $150 per day. And if additional cleanup is required by staff, that will be charged at $150 an hour.” Governmental and quasi-governmental organizations remain exempt from fees, staff said. Council members raised questions about staff time and AV training; members asked for a pulse check on the fee model in roughly a year. The resolution passed by a 6–0 vote.

On Resolution 2026-22, the town manager described a policy shift to permit loans from the town’s voluntary 457(b) plan. He said the change largely aligns Keystone with standard practice and that allowable loans would be limited to “up to 50% of their vested funds in their 457 plan,” with repayment terms “of 1 to five years,” and principal-residence loans allowed up to 15 years with interest near prime. Council asked about the risk to the town and staff noted the primary risk is to the borrower; the town’s exposure is minimal because loans are secured against vested account balances. The council approved the resolution in a voice vote.

Both measures were previewed and discussed in a prior work session, and council members emphasized monitoring implementation for any needed adjustments.