Snowmass Town Council unanimously approved a letter of intent on Monday to commit $1 million in funding toward the Cavern Springs mobile home park purchase by current park residents.

The funds will go toward the acquisition and permanent preservation of the mobile home park as workforce housing, according to a staff report submitted to council prior to May 18.

“They’re really interested in purchasing the park to preserve it,” said Snowmass Housing Director Kevin Rayes of its current residents. “They have less than a month.”

According to Rayes, residents are aiming to put in their offer June 1.

“Staff is supportive of the million dollar request,” he added.

The West Mountain Regional Housing Coalition, alongside Sopris Mountain Collective (the park residents’ not-for-profit C-Corporation) and Mountain Voices Project, requested the $1 million after the mobile home park owner and tenants came to an agreement to sell the property under the homes for $24 million.

The town of Snowmass Village’s approved contribution follows $2 million committed by Aspen, $1.5 million committed by Pitkin County, $500,000 from Glenwood Springs and $500,000 from Carbondale, in the form of forgivable loans.

Cavern Springs residents are also working with Thistle ROC, a Colorado nonprofit that specializes in helping mobile home parks become resident-owned communities and was part of the successful Aspen-Basalt and Mountain Valley resident purchases in 2025.

The Cavern Springs mobile home park is located in unincorporated Garfield County and contains 98 homes with 300 residents, a large portion of whom earn below 80% of the area median income and have lived in the park for decades, the staff report confirms.

“They are essential workers and community members, and include construction workers, service industry employees, school staff, veterans, children, and retirees,” the report states.

At least 27 of Cavern Springs’ current residents work within Snowmass Village, roughly 13% of the park’s working population.

“The Town Council has discussed this negotiation in previous Executive Sessions,” the report states. “In these discussions, the Council indicated strong support for this effort, provided staff with clear parameters, and directed staff to participate in and help enable this purchase process.”

Snowmass Village staff subsequently prepared a letter of intent outlining the $1 million contribution toward this purchase effort if specific conditions, such as applying deed restrictions, are met. Cavern Springs homes are anticipated to only be sold to buyers who are both part of (or retired from) the local workforce and income qualified in addition to being owner-occupied, with short-term rentals prohibited, among other key points.

“Snowmass Village has a five-decade long history of working to increase workforce housing,” the letter reads. “One of the top goals of the Snowmass Village Town Council is to work with partners on innovative ideas to buy down the cost of free-market housing and provide our workforce opportunities for home ownership. Therefore, Snowmass Village is interested in exploring options to assist Thistle ROC and the residents in your efforts to purchase the Park as a means of preserving the supply of affordable housing, improving long-term housing security, and supporting durable and sustainable homeownership for its residents.”

To-date, the total amount of funds committed is $19.5 million of the $24 million. Local governments make up $5.5 million of that, including the contribution from Snowmass Village, with the rest coming from a ROC USA Primary Loan and Colorado Impact Development Fund Loan, according to the report.

The West Mountain Regional Housing Coalition is anticipating closing the remaining funding gap with donations from family foundations and other private donors.

Lot rents are still expected to increase from a current average rent of $1,025 per month to between $1,400 per month or more than $2,000 per month, Rayes told council.

Snowmass Town Council unanimously approved the drafted letter of intent and authorized staff to execute it.

“I’m fully in favor,” said Council Member Tom Fridstein.

Council Members Susan Marolt and Britta Gustafson also vocalized support.

“I’m glad we’re a part of it,” Gustafson said.

While Council Member Cecily DeAngelo also supported the contribution, she did bring up the importance of focusing on supporting Snowmass Village residents first and foremost.

“I believe it’s the right thing to put the money toward this mobile home park,” DeAngelo said. “(But) the way we treat Snowmass Village residents really needs to be taken into account.”