AURORA, Colo. (AP) – An Aurora city councilwoman and a real estate agent are working to get owners of apartments near the University of Colorado Anschutz Medical Campus to take advantage of a tax incentive to rehabilitate their buildings and sell units as condominiums.
Councilwoman Sally Mounier and real estate agent Marianne Farrell told The Denver Post in a story Monday that they are studying so-called “Live Where You Work” programs across the country to try to replicate one for the area, which Mounier represents.
The Post reports the area has a 64 percent tenant occupancy rate and a 36 percent owner occupancy rate, the reverse of national figures.
A federal tax-deferred exchange program allows people who sell their property to put off paying capital gains.
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