During a special meeting held by the Pagosa Springs Town Council on Wednesday, June 10, the council unanimously approved the first reading of three separate ordinances relating to the acquisition of real property — two condominium properties and one townhome property that are all being auctioned off by Wyndham.
Prior to voting on the ordinances, the council entered into an approximately one-hour-long executive session.
After reconvening the special meeting, Mayor Shari Pierce offered comments calling this a “wonderful and unique opportunity” for the community, while also commending town staff for their “diligence” in working through the details of this project.
Council member Gary Williams commented that as the town continues to grow and diversify its economy, “we need more and more workforce housing.”
Williams mentioned that the workforce housing issue has been a “big problem” for the community over the past few years, describing the acquisition of these three properties as a “bold solution” to that problem.
Council member Mat deGraaf stated that, as a government, “fundamentally, we work for the people,” explaining that the acquisition of these properties is what the town needs to survive and thrive.
Council member Leonard Martinez described the project as a “unique opportunity,” especially in Colorado, where communities all across the state are facing similar struggles with workforce housing.
Ordinance 1030 authorizes the acquisition of Master’s Place condominiums at 1093 Northlake Ave., which consists of 20 units.
According to the purchase and sale agreement (PSA), the initial purchase price for this property is listed at $2,376,000.
Ordinance 1031 authorizes the acquisition of Village Pointe condominiums at 604 Eagles Loft Circle.
Development Director James Dickhoff noted that there are 32 units at this property, each with a lock-off that could result in a total of 64 units.
According to the PSA, the initial purchase price for this property is listed at $4,721,472.
Ordinance 1032 authorizes the acquisition of Elk Run townhomes at 455 and 457 Talisman Drive, which consists of 18 two-bedroom units with an initial purchase price listed at $2,432,700, according to the PSA.
Each ordinance also states that, “the Town Council hereby finds and determines that acquisition of the Property is appropriate and necessary to the function and operation of the Town.”
The council has a special meeting scheduled for Monday, June 29, at 5 p.m. at Town Hall for the second reading of these ordinances.
clayton@pagosasun.com
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