Committed, quality, affordable housing is central to the well-being of Mt Crested Butte. It is critical to the stabilization and availability of a local workforce, employers’ and institutions’ ability to attract and retain essential services workers and managers, contributes to building and maintaining a sense of community.
Passing the excise tax measure would increase affordable community housing options in and around Mt Crested Butte, decreasing fluctuations in the workforce and contributing to a local resident base that ultimately strengthens the local economy.
The availability of affordable community housing supports year-round economic stability and growth in Mt Crested Butte.
- Housing costs, quality, and availability are among the top considerations for hourly laborers and members of the service workforce. This measure would fund initiatives intended to address all three.
- Increasing the availability of affordable community housing in Mt Crested Butte would increase employee satisfaction and decrease turnover, resulting in fewer shortages in the workforce, lower training costs and increased revenue for local businesses.
- A portion of the local workforce commutes in from other more affordable locations because they cannot afford to live in the Mt Crested Butte. Employee satisfaction and retention increase dramatically when employees live in the same community they work in.
Development of affordable community housing through excise tax funds means homeownership opportunities for median income families, increasing the attractiveness of Mt Crested Butte to professionals and their families.
Employers’ ability to attract and retain professionals in Mt Crested Butte is increased when opportunities exist for homeownership by median income families.
- Without a sufficient supply of affordable community housing, employers in Mt Crested Butte are at a competitive disadvantage in attracting and retaining professional employees – middle managers, teachers, nurses, fireman, police, and similar professions – potentially causing the loss of services and amenities necessary to support the community. This impacts the quality of life for existing residents but also adversely affects the visitor experience.
- Mt Crested Butte is attractive to second home buyers looking to purchase their “piece of paradise,” driving up Mt Crested Butte home prices well beyond what local median income families can afford. The sales price of locally available housing often far exceeds what a permanent resident household earning the median income in Mt Crested Butte can afford.
- High costs of construction due to our location will prevent free market forces from generating housing that is affordable for median income families. The development community is oriented toward building more expensive and profitable second homes and vacation rentals.
Through the passage of this tax measure, Mt Crested Butte can establish a consistent revenue stream that will create and support attractive and affordable community housing that serves residents and promotes economic and social integration while strengthening the fabric of the Mt Crested Butte community.
Preservation of the Mt Crested Butte community and culture is strengthened through investment in quality, affordable housing for year-round residents.
- Community engagement and quality of life for all residents is increased when the workforce lives in the community they serve.
- Homebuyers who participate in community homeownership programs are less likely to experience foreclosure, are more likely to be involved in their community and are generally more active in their neighborhoods.
- With access to affordable community housing, families are better able to thrive and build a pathway to economic success.
- Stable and affordable housing decreases the need for frequent moves and can improve children’s educational outcomes as a result.
The benefits of affordable community housing extend beyond its occupants to the community at large. Similar efforts to provide affordable community housing in tourism-based communities have successfully bolstered the local economy, increased civic engagement, and provided communities with year-round vibrancy.