Breckenridge Housing Program Targets
47% of the Breckenridge workforce lives in the community
A balance of 35% of resident housing and 65% vacation/lodging
All programs, projects and strategies of Breckenridge Housing are funded by our community and guests through voter approved county-wide taxes (.0125% and .6%), development impact fees, grants secured by housing staff and, as of January 1, 2022, a short-term rental fee.
Since the inception of the housing program, The Town of Breckenridge has invested significant funds in workforce housing to accomplish the targets of 47% of Breckenridge's workforce living in the community and a balance of 35% of resident housing and 65% vacation/lodging.
cost to provide housing (2021 data)
• Projects: on average it costs $400,000 - $500,000 per new unit constructed
*does not include offsite infrastructure or land costs
• Programs: the average cost to acquire a deed restriction on a existing unit:
Housing Helps - $84,000 per unit
Buy down - $172,000 per unit (+154% from 2018)
Short Term Lodging Fee
Effective January 1, 2022 the NEW Regulatory Fee Fund (funded by the short-term rental fee) will be used to support the Town’s workforce housing policies and programs, address secondary impacts of short term rentals that impact the character of the local community and Town neighborhoods where accommodation units are located, and defray the costs to the Town.
FUNDING Summary(through December 2021)
Since the Housing Helps program was launched in late 2019, the Town has invested $1,373,800 to acquire deed restrictions on 29 local homes. Since the Buy Down program was launched in 2019, the Town has spent approximately $13,058,900 to acquire 26 homes to deed restrict and resell to locals.
Project Expense Summary (Dec 2021)
The Town's financial contribution includes:
Alta Verde 1
$3.4 million in offsite infrastructure (storm sewer, utilities, road, sidewalk, etc.)
$4 million loan to the project
$960,000 loan to support Upper Blue Sanitation fees (covered with CDBG grant)
$1.3 million loan for net zero (covered with DOLA grant)
Alta Verde 2
$6 million loan to the project
$2 million loan for new net zero
Projected budget is approximately $17 million