GOOD DEED FREQUENTLY ASKED QUESTIONS
To support the community character and economy of the Gunnison Valley by securing long-term attainable housing in our existing housing stock.
- Incentivize property owners to restrict existing housing to year-round residents and local employees through the purchase of a permanent deed restriction.
- Compliment other community housing efforts with a tool that is well suited to small scale investments and does not require new development.
- Use a regional approach to incrementally increase the variety of deed restricted housing in the Valley.
- Implement a program that is reliable, low-risk, flexible, efficient, and transparent.
Anyone who owns or intends to purchase a property in the Gunnison Valley, with a clean title, is eligible to apply, subject to program approval by each municipality. Properties need to be located within the program area. Standard criteria will be used to evaluate how well the potential purchase aligns with community housing needs.
WHAT IS A DEED RESTRICTION?
This deed restriction is an agreement that restricts the use of your property in perpetuity. In return for the payment from Good Deed, the deed restriction will be recorded in the Gunnison County records. Because the deed restriction will restrict how the property may be used, it is likely that the future value of the property will be impacted by the deed restriction. A homeowner or buyer should confirm with their mortgage lender that the deed restriction is acceptable.
WHY SHOULD I CONSIDER DEED RESTRICTING MY PROPERTY?
The program goal is to help locals stay in the community where they can live, work, play, and raise their families. The most recent Housing Needs Assessment and 2021 Housing Market Update indicate there is a significant shortage of housing to serve the needs of local families and employees. This impacts the ability of businesses to recruit and retain employees and provide the products and services needed. The lack of housing also impacts the character of our community when locals are unable to live in the community where they work. By deed restricting your property you are helping our community retain a variety of housing options for locals. You may use the proceeds that you received from the GVRHA in return for the deed restriction for any purpose.