Letter to the Editor: I have unanswered questions about the Smith Ranch apartments project | SummitDaily.com

Letter to the Editor: I have unanswered questions about the Smith Ranch apartments project

Tom Castrigno

Reading about the recently approved 135 apartments at Smith Range in Silverthorne, it appears they will be owned and operated by Gorman and Co.

The article indicates that buildings will be income capped based on a range of area median incomes. How do those income caps translate to allowable rental rates?

Have those rental rates been set on a per-unit basis based on the mix of incomes that are allowed?

Will these units truly target the local residents they are intended to house?

I understand is that the incomes for projects like these are based on U.S. Department of Housing and Urban Development statistics. How do those numbers match up with actual wages paid by Summit County employers such as the school district, hospital and other health care sector, local governmental entities, grocery stores, and other local lodging, retail and service businesses?

The article states allowable income rates. No mention of allowable rental rates is made. Exactly what amount of housing costs do local area incomes truly support?

How closely aligned are permitted rental rates with these incomes?

These are the types of journalistic questions I would like to see answered.

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