Affordable Housing | Housing affordable to persons with a median household income at or below a government affordability index. This may include price-capped for-sale deed-restricted units, resident-occupied deed-restricted for-sale units, or rental housing units. 

Workforce Housing | Housing that is affordable to workers and close to their jobs. It is homeownership, as well as rental housing, that can be reasonably afforded by a moderate to middle income, critical workforce and located in acceptable proximity to workforce centers. - National Association of Realtors* This may have originally been intended for critical workers like teachers, police, fire, and emergency personnel but has expanded to young professionals, service workers, construction, and retail or those who are integral yet often cannot afford to live in the communities they serve.
 
Senior Housing | Housing designed to meet the unique needs of an aging population, emphasizing features such as accessibility, safety, adaptability, and the promotion of an active lifestyle. This concept encompasses various housing options, from independent living arrangements to full-time skilled care facilities.

Additional Dwelling Unit | A secondary living space on a property, designated for use by the caretaker, individuals living and working in Eagle County, or relatives and guests of the property's occupants. It includes a kitchen facility separate from the main residence, may be attached or detached, and typically features kitchen facilities, a bathroom, and living and sleeping areas. The purpose is to provide separate and independent housing for individuals without depending on the main residence for essentials. 

Affordability Gap |The difference between the price that the average household can afford to pay for a home and the median price of housing on the market.

Area Median Income |Area Median Income (AMI) represents the midpoint of a region's income distribution, where half of the households in the area earn more and half earn less than the median value. This figure is calculated from the gross income of households within a designated area and is a key indicator used to determine eligibility for various housing and financial assistance programs. AMI provides a benchmark for assessing the affordability of housing and understanding economic diversity in a community. Eagle Count Area Median Income.

Deed Restricted | Written agreements that restrict or limit the activities that may take place on a property or development. They appear in real property records of the county. They are binding upon every owner and any future owner when the property is sold.

Eligible Buyer | A buyer who meets the criteria outlined in the most recent version of the Eagle County Housing Guidelines: Administrative Procedures.

Eligible Household | A household that meets the criteria outlined in the most recent version of the Eagle County Housing Guidelines: Administrative Procedures.

Housing Guidelines | Typically refers to a set of rules, regulations, and standards that govern the construction, maintenance, and use of residential buildings. These guidelines are put in place to ensure the safety, health, and well-being of occupants, as well as to promote the orderly development of communities. Housing guidelines can vary from one location to another, depending on local and national regulations. Learn more about the Eagle County Housing Guidelines.

Land Banking | The practice of aggregating parcels of land for future development.

LEED Certified | An internationally recognized green building certification system by Leadership in Energy and Environmental Design providing verification that a building or community was designed and built using strategies aimed at improving performance across all metrics that matter most: energy savings, water efficiency, CO2 emissions reduction, improved indoor environmental quality, and stewardship of resources and sensitivity to their impacts.

Low-Income Housing Tax Credit (LIHTC) | Subsidizes the acquisition, construction, and rehabilitation of affordable rental housing for low- and moderate-income tenants.

Low Income | Any family earning less than 60% of the national median pay.

Price-Capped Deed Restriction | The residence’s appreciation is capped on a pre-determined basis.

Resident-Occupied Deed Restriction | The occupant living in the residence must work in Eagle County.

Restrictive Covenant | Restriction on the use of property or land so that the value and enjoyment will be preserved.

Subordinate Loan | Secondary loans that are paid after the first liens have been paid in the event of default.