Lumberyard Costs, Park Improvements, 2025 Budgets
What's happening...
(ACC - Aspen City Council, BOCC - Pitkin Board of County Commissioners)
🪵 Lumberyard Stacking Costs
Last Tuesday, the ACC heard an update from staff on the Lumberyard budget & schedule. The budget for the horizontal infrastructure, Phase 0, has increased 3x from $14.25M to $45M, due largely to a 53% increase of added scope.
Staff outlined over $250M that the city has earmarked in its 150 Housing Fund for the project over the next 6 years. The city's contribution to the project represents close to $1M per unit (277 units), but does not account for the total cost of the project, which is unknown. A private developer that will be selected through an RFP process that's underway is expected to contribute a to-be-determined portion of the remaining cost. The ACC discussed whether Phase 0 should be incorporated into the private developer's scope of work.
🛩 Airport Closure ➡ Sales Tax ⬇ Parks Rev ⬇
In an example of the downstream impacts from closing the airport for improvements, the Parks Department called out in its budget presentation the forecasted dip in department revenue from lower city sales tax in 2026 when the airport is expected to be closed for improvements.
🏠 STR Tax Helping Affordable Housing
While Short Term Rental tax revenue projections for 2025 are down roughly 15% from where they were forecasted last year, the STR tax contributes 21% of total Affordable Housing Development revenues.
🌲 Planned Park Improvements
Koch Park is planned to receive $605k in renovations to the volleyball courts. The planned $40M Armory Food Hall project will spill over to $800,000 in improvements to the adjacent Conner Park. And, the still to-be-decided Marolt Skills Trail Project has a $240,000 hard cost budget.
⏰ Short Term Rentals, Long Term Waitlist
In a positive example of citizen engagement and city response, Ben Wolff, made thoughtful public comment on Short Term Rentals (STRs) at a council meeting in September. The city has followed up with an informational memo in response addressing Ben's primary point that caps on the number of STR should be adjusted in certain zone districts. The main outlier is the R/MF zone where 21 grandfathered permits must be abandoned by owners before the applicant in the top position of the 40-applicant waitlist could receive a permit. At the current attrition rate, it's anticipated that the first applicant on the waitlist may receive a permit offer around May of 2026.
🎭 Wheeler Opera House Maintains First-in-Class Status
The Wheeler costs will cost $6.2M to operate in 2025 with revenues of close to $1M. The budget deficit is covered by the Real Estate Transfer Tax (RETT). In 2025, capital improvements to the audio system, exterior lighting enhancements and other facility improvements total $502k.
🌿 Environmental Health & Sustainability, Climate Action Adds Employee
Aspen continues its commitment to the environment by converting an intern to a full-time Sustainability Analyst ($78,510). EV chargers get added in 2025. Currently, the city has 23 with an EV masterplan calling for between 35 to 45. Pitkin County EV registration has increased an average 40% year over year from 2010-2023 with 750+ total EVs in Aspen.
🎨 Public Art Hires
As part of the Red Brick Center for the Arts, the new in 2023 Aspen Public Art Program gets a full time Public Art Program Manager ($143,900) in 2025.
💡 Aspen (Electricity) is Affordable
🏔 Shadow Mountain Exchange
The BOCC will hear a proposed exchange for a development approval and access to a remote 55-acre Shadow Mountain parcel in exchange for conveyance of a conservation easement, trail easements, and scenic covenant.
❌ Rural & Remote Areas See STRs Prohibited
On Wednesday, the BOCC will have 1st reading on an ordinance to prohibit Short Term Rentals in Rural and Remote zone districts, along with TR-1 and TR-2 zones.