Housing Eagle County and Avon partner to expand Good Deeds Program

Eagle County recently issued the following press release on the Eagle County Housing and Development Authority (ECHDA) partnering with the Town of Avon on the rollout of Good Deeds Phase II:

The Eagle County Housing and Development Authority (ECHDA) is excited to announce the rollout of Good Deeds Phase II, a significant expansion of the Good Deeds program launched in 2021 to address the rising cost of housing in Eagle County. Since the program’s inception, the median home sales price in Eagle County has increased to $1.6 million. Phase II increases the program’s maximum purchase price from $850,000 to $1.25 million, providing greater access to homeownership while preserving long-term housing affordability for residents.

In addition to increasing the maximum purchase price, Phase II introduces the Community Partner Program, a collaborative initiative to increase funding and support for homeownership in Eagle County. Through this program, ECHDA will partner with communities and organizations to provide additional resources for affordable housing. Town of Avon is the first to join this program.

Community Partner Program
Through the Community Partner Program, ECHDA will make a payment equal to 15 percent of the purchase price of an eligible property, with an additional 15 percent payment provided by the partnering organization. This combined 30 percent investment, capped at $375,000, makes homeownership more attainable for residents and the workforce while ensuring accessible homeownership opportunities for generations. This program is exclusively available for open market properties in Eagle County and utilizes price-capped deed restrictions to ensure long-term affordability for locals.

Avon played a key role in working with ECHDA to develop the framework for the Community Partner Program. This collaboration served as the catalyst for creating the new program within Good Deeds Phase II, demonstrating the power of regional partnerships and setting a strong precedent for other municipalities in Eagle County to address housing challenges.

“The success of the Eagle County Good Deeds program has been beyond our wildest imaginations. We are so happy to work closely with the Town of Avon on this next program phase to make the pot even sweeter for homebuyers. Locals, start shopping today,” said Kim Bell Williams, Executive Director for the Eagle County Housing and Development Authority.

Good Deeds Avon
In collaboration with ECHDA, Avon launched Good Deeds Avon to provide its residents an additional 15 percent toward the purchase price of eligible properties, matching ECHDA’s payment. This partnership, which mirrors the structure of the newly created Community Partner Program, provides Avon residents with a combined 30 percent buy-down on eligible properties, making homeownership more attainable and accessible.

“We cannot have a stable and healthy community without community housing,” said Avon Mayor Tamra Nottingham Underwood. “We cannot build our way out of this housing crisis. An effective housing program will require both new construction and acquisition of deed restrictions on existing housing stock.”

Good Deeds Phase II Highlights

• Open to eligible households throughout Eagle County.
• Buyers must use the property as their primary residence.
• Maximum Purchase Price of $1,250,000.
• ECHDA Payment for Price Capped Deed Restriction 15 percent of purchase price.
• ECHDA Payment for Resident Occupied Deed Restriction: 5 percent of purchase price.
• A minimum of 3 percent of the purchase price must be contributed by the buyer.
• Eligible for the Eagle County Loan Fund’s Down Payment Assistance program on properties priced at $850,000 or less.
• Community Partner Program for regional collaboration and increased affordability.
• New Construction Program with criteria for buyers and developers.

Good Deeds Avon Highlights

• Open to eligible households within Avon.
• Buyers must use the property as their primary residence.
• Maximum Purchase Price of $1,250,000.
• ECHDA and TOA Total Payment for Price Capped Deed Restriction: 30 percent of purchase price.
• The buyer must contribute a minimum of 3 percent of the purchase price.
• Eligible for Eagle County Loan Fund’s Down Payment Assistance program on properties priced at $850,000 or less.

How Good Deeds Avon Works
Like Eagle County Good Deeds, Housing Eagle County and The Valley Home Store will administer Good Deeds Avon. The deed restriction is perpetual, ensuring long-term affordability for local residents.

Interested buyers should locate an eligible property and complete an application, including a purchase and sale agreement, proof of employment in Eagle County, photo ID, and a pre-qualification letter from a local lender. Applications are processed on a first-come, first-served basis, subject to available funds.

Contact Information
For more information about Good Deeds Phase II, Good Deeds Avon, or the Community Partner Program, please visit HousingEagleCounty.com or contact The Valley Home Store at (970) 328-8700.

About Eagle County Housing and Development Authority
The Eagle County Housing and Development Authority, or Housing Eagle County, is dedicated to elevating the community through mentorship, housing solutions, and innovative programs like Good Deeds. By fostering strategic partnerships, ECHDA strives to ensure long-term housing affordability and accessibility for local households.