Ownership Exclusion Zone (OEZ)
Definition of Ownership Exclusion Zone (OEZ)
Any developed residential property that has an address within the Roaring Fork River Drainage area situated in Eagle, Pitkin Garfield or Gunnison Counties, or within the Colorado River Drainage area from and including the unincorporated No Name area to and including Rifle, and including, but not limited to, the towns of Aspen, Basalt, Carbondale, El Jebel, Glenwood Springs, Marble, Meredith, New Castle, No Name, Redstone, Rifle, Snowmass, Snowmass Village, Woody Creek.
- Ownership Exclusion Zone Map (PDF) - map of the Colorado River Drainage area within the OEZ.
- Ownership Exclusion Zone (KML) - This will launch Google Earth if you have installed on your computer and shows the Roaring Fork River Drainage area and Colorado River Drainage area making up the OEZ.
Owning Property in the OEZ
The purchaser/owner/tenant must not own developed residential real estate or a mobile home in the Ownership Exclusion Zone as defined in Part X, Definitions (PDF), of the Aspen/Pitkin Employee Housing Guidelines (Guidelines).
If property is owned, the purchaser/owner/tenant must list for sale, at competitive market prices, the residential real estate or mobile home prior to or simultaneously with closing or renting the deed-restricted unit and still meet the asset/income limitations as set forth in Table I of the Guidelines.
The purchaser/owner/tenant must provide APCHA with a copy of an appraisal that is less than one year old of the property. Upon the sale, a copy of the closing documents indicating the sale price must be provided to APCHA. If the property is not sold by the time of closing or renting of the deed-restricted unit, it must remain listed until sold.
The purchaser/owner/tenant has 180 days to sell the free-market unit. After such time, the purchaser/owner/ tenant must list and sell the deed-restricted unit according to the deed restriction or vacant the deed-restricted rental unit.