City seeks input on capital reserves in APCHA program |

City seeks input on capital reserves in APCHA program

Staff report

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, click on “AH Capital Reserve Memo.” The meeting is for public feedback and will not include an informational presentation.

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