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Housing Authority approves developer exemption for Coyote Creek transfer fee
Summary
The Grand County Housing Authority approved an exemption from a 0.5% transfer fee for multiple units in the Coyote Creek amended final plat, consistent with restrictive covenants allowing developer-to-developer transfers.
The Grand County Housing Authority board approved an application from 23 JD LLC asking for exemption from the 0.5 percent transfer fee for Units 17–39 of Lot 21 of Coyote Creek (amended final plat 2).
"This in particular is exempt under 2.1 of the restrictive covenants, which essentially states that it's going from developer to developer," said Gina Darling of the Housing Authority, who presented the application and noted fees and forms had been paid. Commissioner (speaker 3) moved to approve the exemption as presented and the board voted in favor.
Staff clarified that the exemption applies when a property is transferred from developer to developer; when the property is sold to its first homeowner the exemption no longer applies. The board encouraged developers to consider the voluntary covenants that established the fee.
