Town Board, County Commissioners Hear Housing Crisis Stats at August 13 Joint Meeting
A joint meeting between the Town of Lake City Board of Trustees and Hinsdale County Commissioners was held Wednesday, August 13, where agencies Proximity Green, Triple Point Strategic Consulting, Dynamic Planning + Science and Western Spaces, LLC., gave a presentation to show their findings from a housing strategy survey in and around Lake City earlier this year.Jeff Moffat, Principal of Triple Point Strategic Consulting, was in attendance, as was Ethan Mobley, owner and Principal Planner of Dynamic Planning + Science. Leading the meeting was Grant Bennet, real estate consultant and developer with Proximity Green, via Zoom from Denver, who explained that the purpose of the meeting was to help build momentum for collaborative action between the Town and County by understanding the housing crisis reality through data-driven evidence, and to provide direction for the next phase of strategy development.“I have been deep in the trenches,” he said, “with both Town of Lake City and Hinsdale County for the last three months. I have rolled up my sleeves and really gotten to know this community”Bennett began the slide presentation by saying that there were 97 household survey responses received, as well as 21 employer surveys collected.The results of the study solidly confirmed that there is, indeed, a housing crisis in Lake City. Seventy-seven percent of Lake City’s residents said housing availability is a critical problem, and the community’s biggest problem. Twelve percent said they plan to leave Lake City due to housing costs; seventy two percent of housing stock is seasonal or vacant, with a zero percent rental vacancy rate.The survey also showed that the median home price is $563,000, with the average annual salary around $39,000, and while 43 percent of employers provide housing assistance, families, workers andcontinued page 7essential services are being lost because people can’t afford to live where they work.Within Lake City, the survey confirmed that at least 24 jobs remain unfilled due to housing barriers. Bennett also said the response rate of the survey was 25.5 percent of the Lake City community, a statistic that would be literally impossible to achieve in larger communities.“It’s not exactly a shock that there is a housing crisis,” he said, “but this will put up some data points for Trustees and Commissioners to ponder.”Three hundred sixty of the three hundred eighty households surveyed said their residence is in poor condition; 340 said housing is too expensive; 50 renters were blocked from ownership because of cost. These statistics are based on the 97 household surveys, projected to all 380 county households.“So what is causing displacement,” Bennett said. According to the survey statistics, renters have seen a 34 percent rent increase; 28 percent of homes in the community are vacant or used as short term rentals and not used year round; 22 percent of residents have seen lease non-renewals; and 16 percent of renters were displaced by owner move-ins. Fourteen percent of residents live in overcrowded homes, with 20 percent needing more bedrooms, with many unable to afford needed repairs.“Again, this is no shock to Lake City’s residents,” said Bennett, “but there is literally a zero percent rental vacancy rate. There are currently only five homes actually for sale. Families are forced to take whatever is available, and if a rental does come up, it disappears immediately.”Further, Bennett said that 12 percent of households are planning to leave Lake City due to housing, but there is some hope in the fact that fifty-one percent are interested in ‘deed-restricted’ housing, or affordable workforcehousing.The next slide showed why businesses in Lake City can’t function without affordable workforce housing with statistics from the local employer survey response saying they are having problems providing housing just to keep the doors open. Essential workers can’t afford to live here. Showing examples of average earnings, the slide showed teachers salaries are $39-69 thousand per year; nurse salaries are $32-64 thousand per year; and a Sheriff’s deputy, $26-56 per year.This means that affordable housing on a teacher’s salary would cost around $245,000; a nurse, around $200,000; and a deputy, around $165,000. With a median home price in Lake City averaging $563,000, a teacher would be facing a gap of $318,000 between salary and home price, which Bennett called “obviously unsustainable.”Jeff Moffat then took over the meeting, saying“according to these statistics, even the highest paid workers can’t afford basic family life. Construction work is the best paid local job, and even that still falls $24,355 short annually. This isn’t about poverty, it’s about the impossibility of middle-class life in Hinsdale County. These are serious red flags,” Moffatsaid.Moffat went on to show a slide revealing that Hinsdale County has a $92-million a year economy, breaking down to $70.6-million from local economy, $5.4-million in tourism and outdoor recreation, and $16.4-million in the vacation home industry.“This diverse $70.6-million local economy is three times larger than tourism but it all depends on housed workers,” said Moffat.Further, the survey showed that the cost of inaction would be an annual economic loss of $960,000 from unfilled employment positions, service degradation resulting in reduced school quality, healthcare access and public safety response. Also, each family that leaves Lake City makes it harder to recruit the next essential worker.There will be missed funding opportunities as well, as state housing programs require local action within the next 12 to 18 months.Bennett said, “bottom line – this is not just a housing study, it’s a community survival strategy. We have the data, the funding opportunities, and the first project ready to go. What we need is leadership commitment to act.”Bennett went on to say that the four agencies have developed a proposed vision for Lake City and Hinsdale County, which is to provide housing opportunities across all life stages, enabling residents to find appropriate homes as they begin careers, raise families and retire in the community they love. Bennett said, “we want to put both a vision and goals forward that reflect your interest, and we are listening loud and clear to get feedback to understand, and if we
