Town Of Telluride v. Lot Thirty-Four Venture, L.L.C.

3 P.3d 30 (2000)

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Nature of the Case

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Facts

Thirty-Four Venture (P) acquired property in Telluride with AC-2 zoning. The Town then passed Ordinance 1011 three months later which amended the Use Code to add affordable housing mitigation requirements. The ordinance required the owners engaging in new development to create affordable housing units for forty percent of the new employees created by the new development. A developer was required to provide 350 sq.ft. of housing space for forty percent of the number of employees a proposed development generates. The developer could construct new units, deed restrict existing units, pay fees or convey land to Telluride. Telluride also adopted Guidelines for price and regulation of rental units and the conditions for tenant eligibility. These Guidelines set the maximum rental rate per square foot of property and capped rental rate increases for units designated as affordable housing. The sale of deed restricted properties was also limited. Thirty-Four (P) sought to enjoin Telluride (D) from enforcing the ordinance arguing that it was rent control and therefore violated state law that prohibited rent control on private residential property. The trial court granted D summary judgment, and the court of appeals reversed. D appealed.