Aspen-Pitkin County Housing Authority approves regulatory updates
Austin Colbert/The Aspen Times
The Aspen-Pitkin County Housing Authority Board has approved a series of regulatory updates intended to simplify administrative procedures, reduce financial burdens for applicants, and expand benefits for residents within the city and county’s deed-restricted housing program.
One of the most significant changes involves income verification requirements, according to a Monday news release.
Rather than submitting tax documents on a rolling or case-by-case basis, residents will now only need to provide tax returns and W2 forms once a year, aligned with their annual approval renewal date. This adjustment aims to ease the qualification process for both renters and prospective buyers.
In a move to lower entry barriers, APCHA has eliminated the $5 fee previously required to bid in housing lotteries. Additionally, the $50 fee for capital improvement site visits and reviews has been removed, making it more affordable for homeowners to undertake qualifying upgrades. The requalification fee for renters remains unchanged at $35.
While some fees have been reduced or eliminated, the ownership and long-term rental application fee has increased from $50 to $60. According to the housing authority, this adjustment reflects the rising costs associated with processing and administrative work.
Homeowners stand to benefit from expanded capital improvement allowances.
Under the updated policy, owners of deed-restricted properties governed by APCHA’s current regulations can now add 10% of their original purchase price — minus any depreciation — to their maximum resale value every five years.
The list of eligible capital improvements has also been expanded, allowing for greater investment in property upgrades. For owners whose properties are not currently under these rules, APCHA has introduced the option to adopt a new deed restriction in order to access the enhanced benefits.
“These updates reflect APCHA’s ongoing commitment to reducing administrative burdens and increasing value for our residents,” APCHA Executive Director Matthew Gillen said in the release. “By removing certain fees and expanding the resale value potential for qualifying homeowners, we’re supporting a more accessible and sustainable housing program for the community.”
More information about the updated regulations and eligibility for the revised capital improvement policy is available at http://www.apcha.org.
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