City seeks input on capital reserves in APCHA program
Aspen City Council is holding a public work session at 5 p.m. Monday in council chambers to hear feedback on proposed policies regarding capital reserve accounts in affordable housing. Currently, there is a shortfall in capital reserves across deed-restricted housing in the Aspen-Pitkin County Housing Authority system. City staff identified that each unit requires almost $10,000 in reserves to meet current and future needs. The proposal to assist affordable housing homeowners and homeowners associations includes one-time financial support, an increase in allowable sales price for improvements made by homeowners and new capital reserve policies and fund management from Aspen-Pitkin County Housing Authority.
Participants are asked to review the latest memo on the topic at http://www.cityofaspen.com, click on “AH Capital Reserve Memo.” The meeting is for public feedback and will not include an informational presentation.
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