Terms and Conditions

  • The exact terms and conditions will not be finalized until the project receives final approval from Gunnison County.
  • It is anticipated that the income-restricted rental units will have tenant qualifications similar to those included in the Gunnison Valley Regional Housing Authority’s Affordable Housing Guidelines, a copy of which is available here: http://gvrha.org/wp-content/uploads/2018/06/2015-Housing-Guidelines-Adopted.pdf. These qualifications include conditions related to verification of household income, residency, restrictions on ownership of other real estate, and employment.
  • For income-restricted units, rent will be the lesser of 30% of household income or market rates.
  • However, all units will have a minimum rent floor that will be charged regardless of income. The rent floor will be determined during final approval of the project by Gunnison County. It is anticipated that the rent floor will be similar to the rent that would be charged to a household earning approximately 40% of Area Median Income.
  • Minimum lease term is six months
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