HomeMy WebLinkAboutR22-044 Housing - Long Term Rental Incentive Program DocuSign Envelope ID:E2F42500-6063-4C95-9948-A67921 E36FFA
Commissioner Chandler-Henry
moved adoption of the following resolution:
BOARD OF EAGLE COUNTY COMMISSIONERS
EAGLE COUNTY,COLORADO
RESOLUTION NO. 2022-044
RESOLUTION AUTHORIZING THE RENT LOCAL PROGRAM, A LONG TERM
RENTAL INCENTIVE PROGRAM,AND AUTHORIZING THE EAGLE COUNTY
HOUSING AND DEVELOPMENT AUTHORITY TO ACT AS THE FISCAL AGENT
FOR THE COUNTY, TO ADMINISTER THE RENT LOCAL PROGRAM AND TO
EXECUTE DOCUMENTS ASSOCIATED WITH THE SAME
WHEREAS, on July 27, 2021,the Eagle County Board of County Commissioners
("Board") authorized the Eagle County Housing and Development Authority's Bold Housing
Moves, a series of innovative housing programs, including the Rent Local Program ("Rent Local
Program"), a long term rental incentive program, designed to address the growing housing
challenges among local residents in Eagle County; and
WHEREAS,the Board desires to delegate to the Eagle County Housing and Development
Authority ("ECHDA")the authority to act as the fiscal agent for the County and to administer the
and enforce the Rent Local Program in accordance with the Rental Local Program Guidelines
established by the ECHDA and attached hereto as Exhibit A. Through this program, ECHDA will
enter into an agreement with eligible landlords currently renting in the short term rental market to
convert units,vacant homes and empty bedrooms into long term rentals (leases of twelve (12)
consecutive months or more),to be leased to Eligible Households (as that term is defined in the
Eagle County Affordable Housing Guidelines)at a rental rate not to exceed 100%of area median
income, including utilities and fees. A copy of the form Rent Local Stipend Agreement is attached
hereto as Exhibit B. In exchange, ECHDA will offer landlords a cash stipend as outlined in the
Rent Local Program Guidelines; and
WHEREAS,the County further desires to delegate to the ECHDA,through its Executive
Director(the "Director")and/or The Valley Home Store ("TVHS"),the authority to negotiate and
enter into the Rent Local Stipend Agreement on the County's behalf, in the form attached hereto
as Exhibit B; and
WHEREAS,the Rent Local Program will assist in supplementing the long term rental
market for Eligible Households, as that term is defined in the Eagle County Affordable Housing
Guidelines and the Rental Local Program Guidelines.
NOW,THEREFORE, BE IT RESOLVED BY THE COMMISSIONERS OF THE
BOARD OF COUNTY COMMISSIONERS, COUNTY OF EAGLE, STATE OF
COLORADO:
E
DocuSign Envelope ID:E2F42500 6063-4C95 9948 A67921 36FFA
THAT, the Board hereby delegates to the ECHDA the authority to act as the fiscal agent
for the County and to administer and enforce the Rent Local Program.
THAT,the Board hereby delegates to the ECHDA, through its Director and/or TVHS,the
authority to negotiate and enter into a Rent Local Stipend Agreement on the County's behalf. The
Board further delegates authority to the Director to execute documents that may be required to
effectuate the Rent Local Program, subject to prior review and approval by the Eagle County
Attorney's Office.
THAT this Resolution is necessary for the health, safety and welfare of the people of
Eagle County, Colorado.
[Signature page to follow]
2
DocuSign Envelope ID:E2F42500-6063-4C95-9948-A67921 E36FFA
MOVED,READ AND ADOPTED by the Board of County Commissioners of the County
of Eagle County, State of Colorado, at its regular meeting held this 23rd day of May , 2022.
COUNTY OF EAGLE, STATE OF
COLORADO, By and Through Its
h��..°E e��tfco�sa BOARD OF COUNTY COMMISSIONERS
ATTEST:
DocuSigned by: CQ DocuSigned by:
FOR A0°.
CICt litAAa eti°li-viwt, — B ` "�49"".uo
f9D2F2 889e4 .. y CMAC128f8M47A..
Clerk to tie B40oard of Jeanne McQueeney
County Commissioners County Commissioners Chair
r_DocuSigned by: 11
88A881 FFE884403.
Kathy Chandler-Henry
Commissioner
DocuSignne�dby�:
J 1t �n�uI I
81E,BzD7 i8E04,3.
Matt Scherr
Commissioner
Commissioner Chandler-Henry seconded adoption of the foregoing resolution. The roll
having been called,the vote was as follows:
Commissioner McQueeney Aye
Commissioner Chandler-Henry Aye
Commissioner Scherr Aye
This resolution passed by 3/0 vote of the Board of County Commissioners of
the County of Eagle, State of Colorado
3
DocuSign Envelope ID:E2F42500-6063-4C95-9948-A67921E36FFA
EXHIBIT A
Rent Local Program Guidelines
4
DocuSign Envelope ID:E2F42500-6063-4C95-9948-A67921 E36FFA
fl HOUSING
111:1 EAGLE
COUNTY Rent Local Program I Program Guidelines
These Guidelines are subject to change based on availability of funds, conditions of property and
market conditions. ECHDA does not discriminate on the basis of race, color, sex, religion, handicap,
familial status, sexual orientation, gender identity, or national origin.
The Rent Local Program, a long term rental incentive program, will support local residents who are at a
disadvantage in the real estate marketplace because there is little inventory available, impacted directly
by the short term rental market inventory that has increased drastically over the last decade, creating a
lower supply of rentals in the long term, year round market. Through the Rent Local Program, the Eagle
County Housing and Development Authority ("ECHDA") may provide a cash incentive to Eligible
Landlords to convert their short term rental unit, vacant home or empty bedroom into the long term
rental market through a rental subsidy while keeping rental rates to tenants capped at 100% of area
median income. The intent of the program is to restore more year round rental inventory at attainable
rental rates in units that are available today in Eagle County.
The Rent For Locals Program is compatible with this Program.
Purpose of Program This Program is intended to incentivize an Eligible Landlord to convert a short term
rental or vacant Eligible Property in order to rent to an Eligible Household for twelve
consecutive months or more at no more than 100% of area median income rental
rates.
Eligible Landlords Eligible Landlords, are owners of real property in Eagle County that are currently
renting in the short term rental market, and are willing to convert to long term
leases to Eligible Households.
Eligible Property Single family homes, condominiums, townhomes, duplexes, modular homes or
manufactured homes on a permanent foundation taxed as real property within the
jurisdictional boundaries of Eagle County that are not currently encumbered by a
deed restriction, right of first refusal, occupancy requirement, Land Use Regulatory
Agreement, or similar program. Eligible Properties must provide safe and habitable
living conditions.
The Eligible Property must have been a short term rental in the last twelve (12)
months to qualify.
Eligible Households An Eligible Household is defined by the most recent Eagle County Affordable
Housing Guidelines and Administrative Procedures and subject to policies
contained within.
Tenant Tenant is required to be an Eligible Household and use the property as a primary
residence, as defined in the Eagle County Affordable Housing Guidelines.
Rental Rate The Eligible Property shall be rented for no more than 100% of Eagle County area
median income ("AMI") including utilities and fees, as published by the Colorado
Effective 5/24/2022
DocuSign Envelope ID:E2F42500-6063-4C95-9948-A67921E36FFA
fl HOUSING
4111t1 EAGLE
COUNTY Rent Local Program I Program Guidelines
Housing and Finance Authority. If the Eligible Landlord is unable to rent the Eligible
Property for rental rates determined by 100% of Eagle County AREA MEDIAN
INCOME, including all utility costs and fees, the rent should be reduced to a
reasonable market rate.
2021 Colorado Income and Rental Limits
Lease Terms Eligible Landlords must be willing to rent the Eligible Property or a bedroom in a
Landlord-occupied property, for a minimun of twelve (12) consecutive months, at a
monthly rental rate capped at 100%AMI. All tenants must qualify as Eligible
Households.
Landlord Eligible Landlords must provide a copy of executed lease and proof of Eligible
Requirements Household status for renter to the Program Administrator with Application.
Stipend Agreement Eligible Landlords must enter into a Rent Local Stipend Agreement with the
ECHDA to ensure program compliance. The Landlord must also provide ECHDA
with a copy of a Disclosure Notice confirming the Landlord has notified tenant(s)
that it is participating in the Rent Local Program.
Stipend Amount Eligible Landlords stipend is paid on a monthly basis per bedroom rented in order
to supplement the lease rental rate. No bedrooms may be vacant to qualify for the
full cash stipend. ECHDA will utilize the Stipend amounts agreed upon and
approved by the ECHDA Board, as set forth below:
Unit Size 1-Year Lease Incentive 2-Year Lease Incentive
Studio $1,800($150 per month) S4.200(S175 per month)
1BR $3,600($300 per month) $8,400($350 per month)
2BR $5,400($450 per month) $12000($500 per month)
3BR $7,200($600 per month) $15.600($650 per month)
4BR $9,000($750 per month) S19.200($800 per month)
With a twelve-month lease, ECHDA will pay Landlord the stipend in two equal
installments to include a half payment at the start of the lease, and the second half
at the end of the lease. With a two year lease, ECHDA will pay Landlord the
incentive in three equal installments to include one payment at the start of the
lease, a second payment in the middle of the lease and the final payment at the
end of the lease.The cash stipend payment will end immediately upon termination
of the lease agreement by either the Landlord or the tenant.
Eligible Landlords shall repay any and all funds advanced by the ECHDA in the
event Landlord fails to comply with Program Guidelines and/or for breach of the
Rent Local Stipend Agreement.
Landlord Options An Eligible Landlord may participate in this program by renting out either an entire
Eligible Property or by renting individual vacant bedroom(s)within the
Effective 5/24/2022
DocuSign Envelope ID:E2F42500-6063-4C95-9948-A67921 E36FFA
/t,\ HOUSING
MitoN EAGLE
COUNTY Rent Local Program I Program Guidelines
Landlord-occupied home to an Eligible Household. If a bedroom is rented out in a
Landlord-occupied property, the Landlord will be eligible for 50% of the listed
amount.
Program Compatibility This Program is compatible with the Rent For Locals Program.
Recertification Eligible Households must recertify their eligibility annually in accordance with the
Eagle County Housing Guidelines and Administrative Procedures.
Inspection All Eligible Properties must provide safe and habitable living conditions, confirmed
through a property inspection by the Program Administrator at the time of
Application.
Program Application Eligible Landlords shall contact ECHDA to begin the application process. The
Program Administrator will review the terms of the application to include proof of
ownership of Eligible Household, proof of short term rental in the last twelve (12)
months, and photo identification.
Application Processing Review and approval within five (5) business days of receipt by the Program
Administrator. Applications are subject to property inspection prior to approval.
Applicability All aspects of the Rent Local Program eligibility and approval are at the sole
exclusive discretion of the Program Administrator and availability of funds. These
Guidelines may be amended from time to time to effectuate the intent and goals of
the Program, and all changes are binding upon program participants.
Applications may be denied based on the physical condition of the proposed
property or a determination that the Eligible Property is not in the best interest of
the County or ECHDA. Program is subject to market conditions.
Other In the event of policy conflict between this Program and the Eagle County
Affordable Housing Guidelines and the Administrative Procedures, the Rent Local
Program Guidelines shall control.
Program Administrator The ECHDA and/or the TVHS or other as assigned by Eagle County.
More information www.housingeaglecounty.com or call (970) 328-8772
EQUAL HOUSING
OPPORTUNITY
Effective 5/24/2022
DocuSign Envelope ID:E2F42500-6063-4C95-9948-A67921 E36FFA
EXHIBIT B
Form Rent Local Stipend Agreement
5
DocuSign Envelope ID:E2F42500-6063-4C95-9948-A67921 E36FFA
fl HOUSING
ONO EAGLE Rent Local Program
COUNTY Rent Local Stipend Agreement
RENT LOCAL STIPEND AGREEMENT BETWEEN THE EAGLE COUNTY HOUSING
AND DEVELOPMENT AUTHORITY AND ELIGIBLE LANDLORD
THIS RENT LOCAL STIPEND AGREEMENT (the "Agreement") is made and entered
into this day of , 20 (the "Effective Date"), by and between the Eagle
County Housing and Development Authority ("ECHDA"), a body corporate and politic and
("Landlord") (each a"Party" and collectively the "Parties").
WHEREAS, there is a demonstrated need for affordable housing for residents of Eagle
County, and the ECHDA, which serves as the fiscal agent of the County pursuant to the Rent
Local Program, has the authority pursuant to to offer a monetary incentive to qualifying
landlords for conversion of an Eligible Property (as that term is defined in the Rent Local
Program Guidelines) from the short term rental market to a long term lease with an Eligible
Household (as that term is defined in the Eagle County Affordable Housing Guidelines) at a
maximum monthly rental rate not to exceed 100% of the Area Median Income ("AMI") as
established by the Colorado Housing and Finance Authority, including utilities and fees; and
WHEREAS, Landlord has agreed to rent the real property known as
(the "Leased Premises") pursuant to a month lease
agreement executed on the day of , 20 , at a maximum monthly rental
rate not to exceed 100% AMI (the "Lease Agreement"), including utilities and fees. A copy of
the Lease Agreement is attached hereto as Exhibit A; and
WHEREAS, ECHDA desires to provide Landlord with a cash incentive to supplement
the Lease Agreement monthly rental rate pursuant to the terms of this Agreement in order to
support the long term rental market for Eligible Households in Eagle County.
NOW, therefore, in consideration of the foregoing, ECHDA and Landlord agree as
follows:
1. Term. This Agreement commences on the date first written above and shall terminate on
, unless sooner terminated or extended as set forth herein.
2. Payment and Compliance with the Lease Agreement. Landlord has entered into a Lease
Agreement with an Eligible Household(s) for a period of consecutive months, at a
maximum monthly rental rate not to exceed 100%AMI including utilities and fees, as set forth on
Exhibit A. Landlord agrees to fulfill the terms of the Lease Agreement, subject to termination for
tenant default. Landlord agrees to inform ECHDA immediately upon any violations of the Lease
Agreement, pending eviction notices, or complaints commencing legal action against tenant, as
well as any termination of the Lease by Landlord or tenant.
3. Payment of Stipend. ECHDA agrees to pay Landlord a stipend based upon the number of
bedrooms in the Leased Premises which are rented to qualifying Eligible Households in
1
DocuSign Envelope ID:E2F42500-6063-4C95-9948-A67921E36FFA
/0"� HOUSING
k EAGLE Rent Local Program
COUNTY Rent Local Stipend Agreement
accordance with the Rent Local Program Guidelines and this Agreement. For the Leased
Premises, Landlord is renting out bedrooms, with tenants occupying the Leased
Premises for a term of months. In accordance with the Rent Local Program Guidelines,
Landlord will receive a stipend totaling $ (the "Payment") paid directly to
Landlord. The Payment will be made upon ECHDA's determination, in its sole discretion, that
Landlord is eligible for the Payment under the Rent Local Program Guidelines and upon the
submission of a signed Lease Agreement. The Payment shall end immediately upon termination
of the Lease Agreement by either Landlord or the Tenant(s).
4. Event of Default. If, at any time during the Term or after termination or expiration of this
Agreement, the ECHDA reasonably determines that any payment made by ECHDA to Landlord
was improper because the Landlord failed to comply with this Agreement or the Program
Guidelines or because the Lease Agreement was terminated by either Landlord or tenant(s), then
upon written notice of such determination and request for reimbursement from ECHDA, Landlord
shall forthwith return such payment(s) to ECHDA. Upon termination or expiration of this
Agreement, unexpended funds advanced by County, if any, shall forthwith be returned to County.
5. Disclosure. Landlord agrees to provide the tenant under the Lease Agreement with a
Disclosure Notice to Tenant, in the form attached hereto as Exhibit B, informing the tenant of the
Landlord's participation in the Rent Local Program.
6. Use of Leased Premises. Tenant shall use and occupy the Leased Premises as its principal
place of residence. For purposes of this Agreement, "principal place of residence" shall mean the
home or place in which one's habitation is fixed and to which one, whenever he or she is absent,
has a present intention of returning after a departure or absence therefrom, regardless of the
duration of absence. With a minimum of 48 hours notice to the Landlord and tenant, ECHDA has
the right to enter and inspect the Leased Premises for verification that the Leased Premises is safe
and habitable. An Inspection Guide for the Leased Premises, informing the Landlord of items to
be inspected, is attached hereto as Exhibit C. Landlord shall not be held responsible for unkempt
areas due to act or omission of the tenant. Tenant shall not, except with prior written approval of
ECHDA, and subject to the Lease Agreement, sublease the Leased Premises for any period of
time.
7. Limitation of Liability of ECHDA. This Agreement shall not be construed to constitute a
representation or guarantee by ECHDA to make rent payments under the Lease Agreement, to
maintain the Leased Premises, or to make maintenance, utility, or security deposit payments owed
by tenant to the Landlord. ECHDA does not assume any obligation for tenant's rent or for
payment of any claim by the Landlord against the tenant. Moreover, this Agreement shall not be
construed to constitute an assumption of liability by ECHDA for any terms of the Lease
Agreement.
8. Reservation of Remedies. There is hereby reserved to the parties hereto any and all
remedies provided by law for breach of this Agreement or any of its terms. In the event the parties
resort to litigation with respect to any or all provisions of this Agreement, the prevailing party
2
DocuSign Envelope ID:E2F42500-6063-4C95-9948-A67921E36FFA
fl HOUSING
�� EAGLE Rent Local Program
COUNTY Rent Local Stipend Agreement
shall be entitled to recover its expenses including reasonable attorney fees.
9. Notice. Any notice required by this Agreement shall be deemed properly delivered when
(i) personally delivered, or (ii) when mailed in the United States mail, first class postage prepaid,
or (iii) when delivered by FedEx or other comparable courier service, charges prepaid, to the
parties at their respective addresses listed below, or (iv) when sent via facsimile so long as the
sending party can provide facsimile machine or other confirmation showing the date, time and
receiving facsimile number for the transmission, or (v) when transmitted via e-mail with
confirmation of receipt. Either party may change its address for purposes of this paragraph by
giving five (5) days prior written notice of such change to the other party.
ECHDA:
Attention: Executive Director
500 Broadway
Post Office Box 850
Eagle, CO 81631
Telephone: 970-328-8773
Facsimile: 970-328-8782
Email: info@valleyhomestore.org
With a copy to:
Eagle County Attorney
500 Broadway
Post Office Box 850
Eagle, Co 81631
Telephone: 970-38-8685
Facsimile: 970-328-8699
Email: atty@eaglecounty.us
LANDLORD:
Name:
Address:
Phone:
Fax:
Email:
10. Venue, Jurisdiction and Applicable Law. Any and all claims, disputes, or controversies
related to this Agreement, or breach thereof, shall be litigated in the District Court for Eagle
County, Colorado, which shall be the sole and exclusive forum for such litigation. This
3
DocuSign Envelope ID:E2F42500-6063-4C95-9948-A67921 E36FFA
All\ HOUSING
11111, EAGLE Rent Local Program
COUNTY Rent Local Stipend Agreement
Agreement shall be construed, interpreted under and governed by the laws of the State of
Colorado.
11. Severability. Whenever possible, each provision of this Agreement and any other related
document shall be interpreted in such a manner as to be valid under applicable law; but if any
provision of any of the foregoing shall be invalid or prohibited under said applicable law, such
provisions shall be ineffective to the extent of such invalidity or prohibition without invalidating
the remaining provisions of such documents.
12. Execution by Counterparts; Electronic Signatures. This Agreement may be executed in
two or more counterparts, each of which shall be deemed an original, but all of which shall
constitute one and the same instrument. The parties approve the use of electronic signatures for
execution of this Agreement. Only the following two forms of electronic signatures shall be
permitted to bind the parties to this Agreement: (i) Electronic or facsimile delivery of a fully
executed copy of the signature page; (ii) the image of the signature of an authorized signer
inserted into PDF format documents. All documents must be properly notarized, if applicable.
All use of electronic signatures shall be governed by the Uniform Electronic Transactions Act,
C.R.S. 24-71.3-101 to 121.
13. Entire Agreement. This Agreement contains the entire agreement between the parties with
respect to the subject matter hereof and supersedes all other agreements or understanding between
the parties with.respect thereto.
14. Section Headings. Paragraph or section headings within this Agreement are inserted solely
for convenience or reference, and are not intended to, and shall not govern, limit or aid in the
construction of any terms or provisions contained herein.
15. Waiver. No claim of waiver, consent or acquiescence with respect to any provision of this
Agreement shall be valid against any party hereto except on the basis of a written instrument
executed by the parties to this Agreement. However, the party for whose benefit a condition is
inserted herein shall have the unilateral right to waive such condition.
16. Modifications. The parties to this Agreement agree that any modifications of this
Agreement shall be effective only when made by writings signed by both parties.
17. Fair Housing Requirements. ECHDA shall not, in the administration of the Rent Local
Program, discriminate against any person on the grounds of age, race, color, creed, religion, sex,
handicap, national origin, or familial status.
4
DocuSign Envelope ID:E2F42500-6063-4C95-9948-A67921 E36FFA
fl HOUSING
40111> Program
Rent Local Pro
EAGLE 9
COUNTY Rent Local Stipend Agreement
EAGLE COUNTY HOUSING AND
DEVELOPMENT AUTHORITY,by and through
the Executive Director
Executive Director
LANDLORD
By:
Printed Name:
Dated:
Phone:
5
DocuSign Envelope ID:E2F42500-6063-4C95-9948-A67921 E36FFA
/iI"I\ HOUSING
� EAGLE Rent Local Program
COUNTY Rent Local Stipend Agreement
EXHIBIT A
Copy of Lease Agreement
6
DocuSign Envelope ID:E2F42500-6063-4C95-9948-A67921 E36FFA
fl HOUSING
iftlopoilk EAGLE Rent Local Program
COUNTY Rent Local Stipend Agreement
EXHIBIT B
Disclosure Notice to Tenant
This Disclosure Notice is to inform (Tenant), that I,
(Landlord) have entered into Agreement with ECHDA to
participate in the Rent Local Program. This Agreement states that the Landlord will receive an
incentive payment from the ECHDA for removal of the Leased Premises from the short term
rental market and the use of the Leased Premises as a long term rental unit, which is to be leased
to an Eligible Household for a minimum of twelve (12) consecutive months at a maximum
monthly rental rate set at 100%AMI.
LANDLORD
By:
Printed Name:
Dated:
Phone:
TENANT
By:
Printed Name:
Dated:
Phone:
7
DocuSign Envelope ID:E2F42500-6063-4C95-9948-A67921E36FFA
fl HOUSING
"Ik EAGLE Rent Local Program
COUNTY Rent Local Stipend Agreement
EXHIBIT C
Rent Local Program Inspection Guide
The Rent Local Program shall require an onsite inspection of the Eligible Property. With a
minimum of 48 hours notice to the Landlord and tenant, ECHDA has the right to enter and
inspect the Leased Premises for verification that the Leased Premises is safe and habitable. In
general, rental units a) must be fit for human habitation and b) cannot be materially dangerous or
hazardous to the Tenant's life, health, or safety.
To be considered habitable under current Colorado state statute, a rental unit must:
• Have functioning appliances
• Have unbroken windows and door
• Be weather-proof, with ceilings and walls that don't leak
• Have plumbing and gas facilities in good working order
• Be connected to a sewage system
• Have running water and adequate hot water
• Have a functional heating system
• Have electrical lighting, maintained in good working order
• Be exterminated in the event of rat or bug infestations in the unit or common spaces
• Be free of anything more serious than minor mold, or damp conditions that could create
mold
• Have common areas that are garbage-free and reasonably clean
• Have garbage and recycling bins outside
• Have floors, stairs, and rails in good repair
• Have working locks on both doors and windows
8
DocuSign Envelope ID:E2F42500-6063-4C95-9948-A67921E36FFA
fl HOUSING
(IVEAGLE Rent Local Program
COUNTY Rent Local Stipend Agreement
• Comply with all building, housing, and health codes (if a violation of the code would
endanger a Tenant's life, health, or safety)
9