Home News Couple found to own free-market condo ordered to sell North 40 home

Couple found to own free-market condo ordered to sell North 40 home

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The APCHA office in Truscott on Thursday, June 23, 2022.
Austin Colbert/Aspen Times

Employee Housing Owners Selling North 40 Neighborhood Homes After Hearing Officers Decide They Violated Local Guidelines By Owning Aspen Free Market Residences That Were Leasing To Long-Term Tenants I was ordered to

An attorney for the owner in a dispute with the Aspen-Pitkin County Housing Authority said Monday it will likely appeal the ruling handed down last month by hearing officer Mick Ireland. Tricia McIntyre, a key player cited in the Irish judgment, also did not respond to messages seeking comment on Monday.

Ireland’s judgment was delivered on September 12, shortly after hearings held in April and two in July on the matter. The ruling sided with his APCHA, which administers the local workers’ housing system, and in March, Cameron McIntyre and Tricia McIntyre were found to have broken the law. North 40 Subdivision Master Certificate LimitationsA combination of 59 single family homes and 13 townhomes adjacent to the Aspen Airport Business Center.

This restriction allows North 40 homeowners to “single or jointly with others, Prohibited from owning other developed residential land.

“The limitation of the deed is evident in stating that the owner of property in North 40 cannot own other property together with or in conjunction with other property,” Irish judgment said. “Here, the LLC manager (Ms. McIntyre) owned or controlled some of the ‘bunch of sticks’ that defined property ownership. “

Through the formation of a limited liability company called CMTR, the McIntries purchased a three-bedroom, three-bathroom townhome in Park Circle for $1.2 million in 2017, the Irish order concludes. According to testimony, she was able to borrow $1.025 million for the North 40 home to purchase this Park Circle townhome. CMTR also said he paid $156,891 for her $1,030,000 mortgage on McIntyre from 2018 to 2021, the Irish order said.

“CMTR, LLC has entered into a substantive mortgage on McIntyre’s home at 5 Riverdown Drive, North 40, pursuant to notes and deeds of trust for which Mr. and Mrs. McIntyre are personally liable and for which CMTR, LLC is not responsible for payment. We have paid reasonable principal and interest,” the Irish order said.

CMTR deposited $310,298 in Park Circle townhome rental income from 2017 to 2020 into an account controlled by Tricia McIntyre, who, according to her own testimony, said the Irish report said, The tax returns reported only totaled $220,313 in “gross rents…for those years.”

Tricia McIntyre’s name appeared on CMTR’s company documents, public property records, loan documents and purchase and sale agreements for Park Circle real estate, the order said. That and other evidence forced Ireland to break through the corporate veil and determine that the McIntyres were the actual owners of the Park Circle mansion.

“Therefore, the HO (Hearing Officer) effectively held that Mr. McIntyre controlled the rental use of the property, his bank accounts, the payment of funds to related entities he owned, and paid his personal obligations without resolution of the company. You need to discover that you owned the property. Do so,” the order said.

Hoffman and McIntyre previously described the townhome as follows: The company paperwork for the LLC that owns the townhome had my son’s name on it. And his 1996 APCHA guidelines allowed children to own land in the Roaring Fork Valley. The North 40 project was approved under the 1996-1997 Employee Housing Guidelines.

APCHA has asked Ireland to order McIntyre to sell the 40 North home, and Hoffman has asked that the 409 Park Circle home be sold if it is found to be in violation of the law.

Ireland states that ordering Park Circle homes to be sold “rewards wrongdoing by allowing the result to be a mere return to the status quo” and that employee homeowners are entitled to additional property. It would set a precedent that an LLC could be formed to own a

According to the Assessor’s Office, if the Irish ruling is valid, the McIntyres would have to sell the North 40 single-family home they built in 2002 after acquiring the North 40 lot in 2000. The 2,710-square-foot home has an appraised value of $118,370 (the amount that a home’s property tax base is based on) and a real value of $1.7 million.

North 40’s selling price is based on McIntyres buying the lot at $150,000 plus a 4% valuation. The amount of money it took to build a house. 4% increase from the time the residence certificate is issued. Other factors cited in the North 40 Main Deed Limitation.

North 40 homes are occupied or classified as RO. under APCHA rules There are no restrictions on income or assets like category housing. North 40 homeowners must earn 75% of their income in Pitkin County, among other criteria.

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