The Housing section of the 2014 Comprehensive Plan documented trends in the use of housing stock. The report indicated that more and more homes are purchased as investment properties and used as vacation rentals. At this point 46 % of the real estate tax bills for the Town of North Elba are sent outside the local area code. The number for the Village of Lake Placid is around 26%. An inventory of internet sites suggests that there are between 400 and 500 listings for short term residential units.
These rentals are very important to the economy of the community and allow the area to host major events. This trend, however, also creates some challenges. In August of 2014 the Town and Village Boards asked the Community Development Board to examine the issues involved. They created a study group who presented a preliminary report to a joint work session of the Village and Town Boards on October 7, 2015.
The Study Group submitted a report to the Development Commission in July of 2016 where it received approval. The report will now be submitted at the regular meetings of the Lake Placid Village Board (Monday, Sept 19, 2017) and the North Elba Town Board (Tuesday, Oct 4)
Appendix 1 Report to the Joint Village / Town Worksession
Appendix 2 Response to Questions from the Worksession
Appendix 3 Sample Affadavit