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    Steamboat Springs West Steamboat Neighborhoods Info Sheet

    Uploaded by

    Eleanor Hasenbeck
    The document summarizes information about a proposed 191-acre residential development called West Steamboat Neighborhoods that is seeking annexation. It would include 450 homes, 50 of which would be built by a housing authority for workforce housing. The development would contain 85 acres of parks and open space. Infrastructure like roads, water, and sewer would be paid for by the developer. The developer would also pay over $8 million total into city funds for water, transportation, and a snowplow.

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    Steamboat Springs West Steamboat Neighborhoods Info Sheet

    Uploaded by

    Eleanor Hasenbeck
    10K views3 pages
    The document summarizes information about a proposed 191-acre residential development called West Steamboat Neighborhoods that is seeking annexation. It would include 450 homes, 50 of which would be built by a housing authority for workforce housing. The development would contain 85 acres of parks and open space. Infrastructure like roads, water, and sewer would be paid for by the developer. The developer would also pay over $8 million total into city funds for water, transportation, and a snowplow.

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    Steamboat Springs West Steamboat Neighborhoods Info Sheet

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    © © All Rights Reserved

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    The document summarizes information about a proposed 191-acre residential development called West Steamboat Neighborhoods that is seeking annexation. It would include 450 homes, 50 of which would be built by a housing authority for workforce housing. The development would contain 85 acres of parks and open space. Infrastructure like roads, water, and sewer would be paid for by the developer. The developer would also pay over $8 million total into city funds for water, transportation, and a snowplow.

    Copyright:

    © All Rights Reserved
    10K views3 pages

    Steamboat Springs West Steamboat Neighborhoods Info Sheet

    Uploaded by

    Eleanor Hasenbeck
    The document summarizes information about a proposed 191-acre residential development called West Steamboat Neighborhoods that is seeking annexation. It would include 450 homes, 50 of which would be built by a housing authority for workforce housing. The development would contain 85 acres of parks and open space. Infrastructure like roads, water, and sewer would be paid for by the developer. The developer would also pay over $8 million total into city funds for water, transportation, and a snowplow.

    Copyright:

    © All Rights Reserved
    of 3

    West Steamboat Neighborhoods

    Annexation Informational Sheet


    Size
    The total West Steamboat Neighborhoods (WSN) proposal encompasses
    WSN
    191 acres. For comparison, Steamboat 700 was 536 acres, Steamboat II
    Quick Stats
    ~110 acres; Silver Spur ~106 acres, Heritage Park ~45 acres, and
    Sunlight ~50 acres. Size ................... 191 acres

    Homes ............... 450 total


    Composition
    The proposed development includes 450 new principal homes or units, Contribution ...... 50 units built by YVHA
    area for commercial and mixed use, area for large-format retail, 12 acres on donated land by WSN
    for a new school, and 85 acres for parks and open space. About two acres Parks ................. 85 acres
    will be donated to the Yampa Valley Housing Authority (YVHA). Open Space = 82 acres
    Parks = 3 acres
    Of the 450 residential units, 50 will be built by YVHA on the land
    donated by WSN. A day care center or other community facility is Zoning .............. Traditional Neighborhood
    anticipated for a portion of the commercial and mixed use area, and a Development
    grocery store is projected for the large-format retail area, though neither
    Deeds ................ 158 – Workforce Deed
    is mandated as part of the agreement. Restrictions
    292 - No Restrictions
    As part of the 85 park acres, three acres are slated for neighborhood
    parks, and 82 acres are designated for open space, including a corridor H2O ................... Standard fees, plus $4.6M
    along Slate Creek that protects the riparian habitat. to Water Firming Fund
    $292K initial, then
    Buildout Rate $15K at each unit closing
    The buildout rate will not be mandated or regulated and will instead be Wastewater ....... Standard fees apply
    market-driven. In the first year, it is anticipated that ten units will be
    built, and roughly 26 units each year thereafter. Full buildout would Roads ................ $3.5M to Transportation
    Firming Fund
    therefore occur within 16-20 years. $292K initial, then
    $11K at each unit closing
    Zoning
    The proposed zoning is called Traditional Neighborhood Development Access ............... Primary-US40 @ Sleepy
    (TND). TND zoning is intended to emphasize the features of traditional Bear w/new traffic signal
    neighborhoods by accommodating, encouraging, and promoting a mix of Secondary-Gossard Pkwy
    uses, community greenspace, interconnected streets, and walkable Snow ................. $610K at 199th Permit.
    neighborhoods. Similarly, the Stapleton redevelopment in Denver is Developer provides snow
    zoned TND. service until that time.

    Deed Restrictions
    Under the Agreement, 158 of the residential units will be subject to workforce deed restrictions administered by
    YVHA. The remaining 292 units will not have deed restrictions. The restrictions will include the following:

    • The unit must be owned and occupied by at least one person who is employed or self-employed for a
    minimum of 30 hours per week in Routt County, with provisions that location-neutral employees qualify.
    • The unit cannot be rented for less than six months at a time (i.e. no VRBO or AirBnB)
    • An appreciation cap of 3% (non-compounding) per year or the increase in area median income (AMI),
    whichever is greater. Calculated annually by Housing & Urban Development, the AMI in Routt County is
    $86,700 for 2018.

    The workforce deed restricted units will also have target selling prices for the initial sale of the unit. 50 of the 158
    deed restricted units would be built by YVHA with a sale or lease price that would target households making under
    80% of AMI. Other restricted units would target households ranging from 100% - 150% of AMI.
    Who pays for the infrastructure?
    Like all new developments within the city,
    the developer will be constructing and
    paying for all of the infrastructure (roads,
    utilities, sidewalks, trails, etc.) within the
    development. All infrastructure will be
    built to applicable city and utility company
    standards and specifications.

    Water
    The city’s water supplies are sufficient to
    serve the proposed annexation and
    development, as well as to continue
    meeting in-fill development within the
    existing city limits. Customers within the
    annexation boundaries will pay standard
    tap fees and monthly water bills, just like
    customers within the current service area
    pay.

    Additionally, the developer will be paying


    a minimum of $4,672,000 into a new fund
    called the Water Firming Fund. This fund
    will be administered by the city and used
    to create new water supplies to facilitate
    both redundancy and future growth
    opportunities for the community-at-large.

    The $4,672,000 will be paid as follows:


    $292,000 collected up front, prior to
    issuance of the first building permit;
    $15,000 paid by the developer at time of
    closing on every non-deed restricted unit
    (292 units). This $15,000 per unit amount
    will be adjusted annually for inflation.

    Wastewater
    Customers within the annexation
    boundaries will pay standard tap fees and
    monthly sewer bills, just like within the current service area. Incremental growth of the wastewater treatment plant is
    funded through tap fees.

    Transit
    There are no specific details regarding transit (bus) service within the Annexation Agreement. However, the city’s
    development review and approval process will include a detailed review of anticipated transit service. As such, the
    development will undoubtedly include bus stops. City staff anticipates initially at least one bus stop along the main
    entrance road, likely near the YVHA parcel. Steamboat Springs Transit will likely need to eliminate an existing bus
    stop in order to accommodate the new stop within the schedule. The least used stop along the mainline route would
    likely be eliminated in order to do this.

    Parks
    All neighborhood parks and all trails will be built by the developer, privately maintained by a Home Owners
    Association (HOA), and open to the public.

    2|W S N
    December 11, 2018
    Roads
    Access Points - There will be two roadway access points. The primary access will come off of Highway 40, directly
    across the highway from Sleepy Bear Mobile Home Park. This access will include a traffic signal. Gossard Parkway,
    which eventually connects to Downhill Drive, will serve as the secondary access.

    Offsite Contributions - In order to mitigate traffic impacts on Highway 40, Elk River Road, and Downhill Drive, the
    developer will be paying a minimum of $3,504,000 into a new fund called the Transportation Firming Fund. This
    fund will be administered by the city, and will be used to pay for road improvements to help alleviate traffic
    congestion. The $3,504,000 represents the development’s proportionate share of those road improvements, and it will
    be paid as follows: $292,000 paid up front, prior to issuance of the first building permit; $11,000 paid by the
    developer at time of closing on every non-deed restricted unit (292 units). The $11,000 per unit amount will be
    adjusted annually for inflation. The Yampa River Core Trail extension is not anticipated to be included in this
    contribution.

    City Operating Costs


    The Annexation Agreement establishes a Real Estate Transfer Assessment (RETA) in order to offset estimated on-
    going city operating costs. Under the RETA, any time a property within the annexation boundary changes ownership
    (except for the initial sale from the developer), 1% of the purchase price will be paid to the city. This funding source
    is intended to pay for city services that the rest of the residents of the city receive with the exception of snow plowing
    services, which are explained below.

    The Annexation Agreement requires that the developer pay the city $610,000 for the purchase of snow plowing
    equipment prior to issuance of the 199th building permit, which is anticipated around the eighth year. Until that
    payment is made, the developer will provide snow plowing services. After the additional equipment is purchased, the
    city will provide snow plowing services to the development.

    What about Secondary Units?


    Secondary units will be allowed within the development under the same terms and conditions as the rest of the city.
    There is sufficient water supply and wastewater treatment capacity to serve the secondary units. Secondary units will
    also pay into the Water Firming Fund and the Transportation Firming Fund at a rate of 70% of a principal unit.

    Where is WSN?

    3|W S N
    December 11, 2018

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