Yampa Valley Housing Authority Executive Director Jason Peasley has signed a mutual separation agreement with the organization, setting in stone the board’s offer last month to part ways with its longtime leader. 

According to YVHA staff, Peasley signed the agreement on March 30, four days after the board approved the agreement 11-2 at its March 26 meeting, with board members Catherine Carson and John Spezia opposed. 

The agreement includes six months’ severance pay, health insurance and accrued paid time off at a total cost to the organization of roughly $143,000, to be paid to Peasley in a lump sum. Peasley will stay on through June 1 as part of the transition period.

Peasley, who has been at the helm of the often controversial authority since 2012, declined to provide a comment to the newspaper on the separation.

YVHA originally released a statement March 3 announcing that it had instructed legal counsel to draft the agreement with Peasley, noting the board’s intention to vote on the document at its March 12 meeting. 

The statement did not include details on the reasoning behind the organization’s decision to separate from its executive director.

The vote was tabled at the March 12 meeting, and tabled again on March 18, until the board finally approved the agreement on March 26. 

The move comes as the authority continues to navigate ongoing housing pressures in the region, where demand for affordable and attainable homes has remained high and local governments have pushed for more coordinated solutions.

The board’s decision to move forward with a separation agreement marks a significant leadership shift for the organization as it looks ahead to its next phase.

The board plans to discuss a transition plan at its Thursday meeting. The meeting agenda calls for the board to vote on whether to appoint current Deputy Director Elliot Lawrence as interim executive director.