SMRHA was formed under an Intergovernmental Agreement between the Town of Telluride, Town of Mountain Village and San Miguel County. Each jurisdiction provides funding for SMRHA to administer its deed restriction program and other related initiatives.

The general goal of SMRHA is to assist in the preservation of affordable housing for residents and their families who make a living primarily from their employment within the Telluride R-1 School District through the administration, development and implementation of housing policies and programs, providing on-going education, information, and leadership regarding the current housing supply availability and needs, and offering education to the community.