WSN WILL PROVIDE NEW INVENTORY OF HOMES FOR LOCALS.
+ WSN includes 108 deed-restricted homes in the Gateway Neighborhood that will be available for purchase by people working 30+ hours a week in Routt County.
+ Homes in the Gateway Neighborhood will have an appreciation cap of 3% per year to discourage quick turn over.
+ Short-term rentals are not allowed, as per the deed restriction in the Gateway Neighborhood.
+ To ensure fairness, the 108 deed restricted homes will be sold through a lottery, overseen by the Yampa Valley Housing Authority.
+ Homes will be available across a variety of prices and types – single family, duplex and townhomes.
+ Target prices for the deed-restricted homes are for households making between $86,000 to $126,000 annually (based on a 4-person household).
+ In addition to the deed-restricted for purchase homes, WSN has donated 2 acres of land to the Yampa Valley Housing Authority for up to 50 units, such as rental units for households making less than about $70,000 annually. The YVHA Board will determine the exact product when they are ready to develop the property.
+ There is incentive to develop the deed restricted homes within the first 10 years to secure entitlements for another 10 years.
WSN IS SUSTAINABLE.
+ As a traditional neighborhood development, WSN promotes sustainable growth, decreased auto-dependency, and high quality of life. All homes in WSN will be certified Energy Star®, resulting in 20-30% more efficient than standard homes.
+ 85 acres (44% of WSN) will be dedicated to parks or open space, along with several miles of trails, all which will be open to the public to enjoy.
+ The Slate Creek riparian corridor is to be preserved as an undisturbed greenway for wildlife habitat and passive recreation or educational opportunities.
WSN PAYS IT’S OWN WAY, TO CITY FUNDS AND INFRASTRUCTURE
+ WSN will be revenue neutral; revenues collected will be equal to budgeted costs to provide police and fire protection, emergency response, street maintenance, miscellaneous costs, and administrative overhead. This fact is confirmed with the City Finance office.
+ In addition, WSN is committed to contribute approximately over $20,000,000 to City coffers, which will be of significant value in maintaining City water, sewer, public works, transportation and educational services and infrastructure.
+ Specifically on water, WSN will contribute $4,672,000 to fund efforts to address the redundancy problem, and, through water tap fees, contribute an additional $2,190,000 toward the water system.
+ All on-site infrastructure and “front door” improvements are paid entirely by WSN, as well as $3,504,000 to mitigate traffic impacts to Highway 40.
WSN IS COMMITTED TO LOCAL CONTRACTORS.
+ You can’t build a locals neighborhood using out of town contractors and subcontractors. It works best if it is all local. This is exactly how we have operated in Summit County for the last 20 years.
+ WSN will be looking to identify a small, successful, high quality local general contractor; to bring their local presence and relationships with local subs, combined with our systems, accounting and procurement expertise.
Want more facts? See the CITY’S INFO SHEET for more on water, sewer, zoning, buildout rate, transit, secondary units, and more.
WSN QUICK FACTS
450 Total, 35% Deed Restricted
50 Units Built by YVHA on Donated Land by WSN
85 Acres, Open Space = 82 Acres, Parks = 3 Acres
Traditional Neighborhood Development
Standard Fees, Plus $4.6M to Water Firming Fund $292 Initial, Then $15K at Each Unit Closing
Standard Fees Apply
$3.5M to Transportation Firming Fund $292K Initial, Then $11K at Each Unit Closing
Primary-US40 @ Sleepy Bear with New Traffic Signal; Secondary-Gossard Pkwy
$61K at 199th Permit. Developer Provides Snow Service Until that Time.