Briefs: Crested Butte

By mayrk reaman

Affordable housing questions

Crested Butte town manager Dara MacDonald reported to the council that as of December 16 there have been six approved applications for the nine rental units coming online in Paradise Park. Councilmember Mallika Magner said fellow councilmember Kent Cowherd who was not at the meeting had heard the town’s requirement that people had to work at least 1,500 hours a year to qualify for workforce housing was a deterrent. Housing director Erin Ganser said 1,500 hours equates to working 29 hours per week. MacDonald said she was confident the units would be filled but the holiday period and start of the ski season had impacted the speed of applications. She also reminded the council that Crested Butte has “a history of procrastinating in our community.”

Meanwhile, councilmember Beth Goldstone expressed some concern over the slow construction of the Mineral Point affordable housing rental apartments. She wondered if it was wise to continue outdoor construction as town entered the heart of winter that could impact building quality given the current delays.

MacDonald said that basically the buildings were not owned by the town but by TWG Crested Butte LLLP and the company had to meet certain occupancy deadlines next summer which they have consistently said they would. “As long as they pass their inspections, they are good,” she said. Community Development director Troy Russ said they passed their concrete inspection even with a winter pour. According to a report to council TWG “anticipates leasing up over the summer with the property achieving 95% occupancy by the end of October.”

Meanwhile, council approved a resolution loaning TWG $375,000 that basically “refunded” an unintended land lease payment made at construction closing “and to honor the original intent of the town to lease the land to the project at no cost.” That loan is expected to be forgiven at maturity in 17 years. The issue came up after a last-minute decision by the tax credit investor’s legal counsel determined that the below-market lease rate originally proposed in the land lease constituted a taxable event for the investor. 

Town ready to lease some Irwin water to mining company

Crested Butte approved first reading of an ordinance that includes an agreement with the Mount Emmons Mining Company to lease some town water owned by Crested Butte in Lake Irwin to MEMC. The water would be used in the mining company reclamation, site remediation and water treatment activities at the Keystone mine site. Under the agreement MEMC has agreed to not construct the Elk Creek reservoir in the pristine Elk Creek drainage. As long as the town’s Irwin water is available, MEMC is not allowed to build that reservoir. The 80-year lease agreement required MEMC to pay the town a $1,000 annual fee and $600 per acre foot of water released for MEMC benefit. The ordinance was approved in the December 16 consent agenda and a public hearing on the ordinance is scheduled for January 6, 2025.