On Tuesday, Steamboat Springs voters passed a ballot measure, with 54.8% support from 4,633 voters, to allocate 75% of the city’s short-term rental tax revenues to the Yampa Valley Housing Authority until 2042. This funding will be directed towards the Brown Ranch affordable housing project. The measure will establish a fixed 9% short-term tax rate on individual bookings within the city, with the majority of the revenue collected being channeled to the housing authority for their affordable housing initiatives. The remaining 25% of the short-term tax revenue will be allocated to the city to support additional affordable housing projects.
The ballot question connects short-term tax money to how well the housing authority performs, as outlined in a special city law. This law is important because it helps the city take control of the Brown Ranch property, where they plan to build over 2,264 affordable homes. The housing authority bought this land in 2021 and spent a long time discussing it with the city.
A spokesperson for the House our Community group is happy about the vote and thinks it’s important because our community really needs affordable housing.
The big question is how the city will pay for this project. The city’s Finance Director explained that with tax money and a few changes, they can pay for the first part of the project until 2040. But there’s a debate about this.
Now, the project’s future depends on a petition being passed around by a group called Let Steamboat Vote. They want to get enough signatures to challenge the city’s decision on the Brown Ranch project. If they succeed, the vote on funding the project might not count.
The Let Steamboat Vote group believes they will get the signatures they need. Even though they’re not happy about the vote, they respect the democratic process.
The Michaels Organization supports the project and donated a large amount to the House Our Community group. This shows that many people and companies want the Brown Ranch project to happen. Grassroots efforts and community support are also playing a big role in making this project a reality.