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Home My WebLink About2024-09-03 Agenda and Supporting Documentation Town Council Afternoon Meeting1.Call to Order (12:30pm) 2.Presentation/Discussion (12:30pm) 2.1 Civic Area Update (12:30pm)45 min. Staff requests the Vail Town Council review the presentation and provide input on the preferred option for the municipal site and next steps. Possible next steps could include refining the cost and revenue projections and drafting an RFP for release. Presenter(s): Matt Gennett, Director of Community Development Background: The project team will present the refined version of the preferred option for the municipal site and an economic analysis with preliminary cost and revenue projections based on the conceptual program of this option. The presentation includes a summary of the input gathered from meetings with the Civic Area Taskforce and the larger community held during the past month. The team will ask the Council for their input on the information presented and direction on possible next steps. 2.2 Dobson Arena Update (1:15pm)75 min. Listen to presentation and provide feedback. Presenter(s): Greg Hall, Director of Public Works and Transportation Background: Provide the Town Council with an update on the Dobson Arena Remodel Project and next steps. 3.DRB/PEC (2:30pm) 3.1 DRB/PEC Update (5 min.) VAIL TOWN COUNCIL MEETING Afternoon Session Agenda Town Council Chambers and virtually by Zoom. Zoom Meeting Link: https://vail.zoom.us/webinar/register/WN_05DLR1kDQBOX8fwKBHS-lg 12:30 PM September 3, 2024 Notes: Times of items are approximate, subject to change, and cannot be relied upon to determine what time Council will consider an item. Civic Area Follow-up Memo Civic Area Council Update Presentation Public Comment Dobson_Update_240903_Final Dobson Arena Town Council Slide Deck 9.03.24 Final DRB Results 8-21-24 PEC Results 8-26-24 1 4.Information Update (2:35pm) 4.1 July 23, 2024 VLHA Meeting Minutes 4.2 July 24, 2024 VLHA Special Meeting Minutes 4.3 August 13, 2024 VLHA Meeting Minutes 4.4 August 2024 Revenue Update 4.5 2024 2nd Quarter Investments Report 5.Matters from Mayor, Council, Town Manager and Committee Reports (2:35pm) 5.1 Matters from Mayor, Town Council and Committees (15 min.) 5.2 Town Manager Report (5 min.) 5.3 Council Matters and Status Update 6.Executive Session (2:55pm) (90 min.) Executive Session pursuant to: 1. C.R.S. §24-6-402(4)(a) - to consider the purchase, acquisition, lease, transfer or sale of any real, personal or other property interest, §24-6-402(4)(e) to determine positions relative to matters that may be subject to negotiations, develop a strategy for negotiations and instruct negotiators and on the topics of: 1. Potential Real Property Acquisitions by the Town; and 2. The Second Amended and Restated Development Agreement between the Town of Vail and Triumph Timber Ridge LLC, dated July 26, 2024; and 2. C.R.S. §24-6-402(4)(b) to hold a conference with the Town Attorney, to receive legal advice on specific legal questions and C.R.S. §24-6-402(4)(e) to determine positions relative to matters that may be subject to negotiations, develop a strategy for negotiations and instruct negotiators and on the topic of a certain Lease Agreement between the Town of Vail and the Vail Park and Recreation District, dated July 18, 2008. 7.Recess 4:25pm (estimate) 2024-07-23_VLHA_Minutes 2024-07-24_VLHA_Special_Meeting_Minutes 2024-08-13_VLHA_Minutes August 2024 Revenue Update 240630__Investments 240903 Matters Meeting agendas and materials can be accessed prior to meeting day on the Town of Vail website www.vail.gov. All town council meetings will be streamed live by High Five Access Media and available for public viewing as the meeting is happening. The meeting videos are also posted to High Five Access Media website the week following meeting day, www.highfivemedia.org. Please call 970-479-2136 for additional information. Sign language interpretation is available upon 2 request with 48 hour notification dial 711. 3 AGENDA ITEM NO. 2.1 Item Cover Page DATE:September 3, 2024 TIME:45 min. SUBMITTED BY:Greg Roy, Community Development ITEM TYPE:Presentation/Discussion AGENDA SECTION:Presentation/Discussion (12:30pm) SUBJECT:Civic Area Update (12:30pm) SUGGESTED ACTION:Staff requests the Vail Town Council review the presentation and provide input on the preferred option for the municipal site and next steps. Possible next steps could include refining the cost and revenue projections and drafting an RFP for release. PRESENTER(S):Matt Gennett, Director of Community Development VAIL TOWN COUNCIL AGENDA ITEM REPORT ATTACHMENTS: Civic Area Follow-up Memo Civic Area Council Update Presentation Public Comment 4 To: Vail Town Council From: Community Development Department Date: September 3, 2024 Subject: Vail Civic Plan Area Implementation Phase 2 – Update – Presentation/Discussion I. Summary The project team will present the refined version of the preferred option for the municipal site and an economic analysis with preliminary cost and revenue projections based on the conceptual program of this option. The presentation includes a summary of the input gathered from meetings with the Civic Area Taskforce and the larger community held during the past month. The team will ask the Council for their input on the information presented and direction on possible next steps. II. Background The 2018/2019 Vail Civic Area Plan was adopted in November 2019. On October 17, 2023, the Vail Town Council authorized the Town Manager to enter into an agreement for contract of services approved by the town attorney with Design Workshop for Phase 2 implementation of the 2019 Civic Area Plan via the Vail Civic Area Spatial, Architectural Programming, and Economic Analysis. On January 18, 2024, the project team held the first meeting of the Civic Area Taskforce and three additional meetings of the taskforce have been convened to date. At the May 21, 2024, Vail Town Council meeting, staff and the consultant team provided Council with an update on the work performed to date for the Vail Civic Area Plan Spatial, Architectural Programming, and Economic Analysis project. During the presentation and discussion, Council provided the project team with the following feedback: • Prioritize replacement of municipal offices and redevelopment of the municipal site. o Municipal offices should redevelop on the municipal site with a portion of the site reserved for private partnerships. o The civic hub site and public works site may play a role while the municipal site is undergoing redevelopment. • Hold off on additional programming studies for the civic hub site until topics requiring action can be clarified and community needs confirmed to establish consensus on a vision. • Spatial and programming studies of all three sites is too large in scope for this implementation project. Make recommendations to consider strategies on the other two sites to preserve flexibility in the future. 5 • Redevelopment of the Lionshead Parking Structure should be part of a future civic hub discussion. Since the May 21st Council meeting, the project team modified the original scope of work for the project to focus on the programming options for the municipal site as the top priority. On July 2, 2024, the team presented the current preferred option for programming on the municipal site and asked council for their input and feedback to incorporate into a refined preferred option. On August 5, 2024, the project team presented the refined preferred option to the taskforce, and on August 7, 2024, the team presented the same materials to the community at an open house/workshop, soliciting feedback from both groups for incorporation into the project. III. Action Requested of Council Staff requests the Vail Town Council review the presentation and provide input on the preferred option for the municipal site and next steps. Possible next steps could include refining the cost and revenue projections and drafting an RFP for release. IV. Attachments A. Revised Presentation – Vail Civic Area Implementation Plan: Spatial, Architectural Programming, and Economic Analysis, September 3, 2024 6 SPATIAL, ARCHITECTURAL PROGRAMMING, AND ECONOMIC ANALYSIS TOWN OF VAIL | SEPTEMBER 3, 2024 VAIL CIVIC AREA IMPLEMENTATION PLAN COUNCIL UPDATE 7 VAIL CIVIC AREA PLAN | 2018 - 2019 Vail’s Civic Area | 31 Images depict how the South Frontage Road could be re-located and massing studies for the potential pre-development of the Municipal Building Site. Municipal Building Site Vail’s Civic Area | 27 Six key sites – Vail Public Library, Lot 10, Middle Creek Parcel, Dobson Ice Arena, Lionshead Parking Structure and Charter Bus Lot comprise the Civic Hub. While this area currently includes a number of important community assets, it has great potential to become a more cohesive, vibrant activity center. With the development potential afforded by the Charter Bus Lot, the Civic Hub presents the opportunity for Vail to implement change that will be transformational for the community. Public Places and Connectivity Buildings will be instrumental to the success of the Civic Area, but the public outdoor spaces and connectivity between buildings and outdoor spaces are critical to creating the “place”. Outdoor spaces and safe, efficient, enjoyable connectivity is essential to the success of the Civic Area. Improving connectivity between the Civic Hub and the Municipal Building Site, the connectivity between buildings and uses within the Civic Hub and connectivity with the Civic Hub to Vail Village and Lionshead are discussed below. Civic Hub Municipal Building Site Vail’s Civic Area | 55 COUNCIL UPDATE V ail ’s M unicipal B uilding s ite Address an aging structure by demolishing and replacing the buildings on site to work with all or some existing town operations to allow for a development opportunity that will allow for other uses. a place for co MM unity By creating multi-use spaces that are complimentary to Vail and Lionshead to allow for culture, commerce, athletics, and education for the community to engage in. the outdoors and nature Foster outdoor gatherings by creating public spaces that integrate indoor spaces with the outdoors that allow for public art and streets as parks with safety in mind. sustaina B ility Enhance economic vitality and environmental stewardship by creating partnerships with the private sector, creating more workforce housing and incorporating renewable resources in construction of new buildings. building upon the civic area plan goals 8 VAIL TOWN BOUNDARY GORE CREEK PUBLIC WORKS SITE VAIL VILLAGE CENTER VAIL VILLAGE PARKING VAIL FIRE AND EMERGENCY SERVICES MUNICIPAL SITE THE RESIDENCE AT MAIN VAIL 72 UNITS PUBLIC WORKS SITE VAIL HEALTH DISTRICTCIVIC HUB SITE EVERGREEN LODGE WEST MIDDLE CREEK 250-275 UNITSWEST VAIL HOUSING (2.1 MILES AWAY) 48 UNITS EVER VAIL POTENTIAL REDEVELOPMENT LIONSHEAD VILLAGE PARKING VAIL CIVIC AREA | PUBLIC AND PRIVATE INVESTMENT IN THE CIVIC AREA TIMBER RIDGE II (1.4 MILES AWAY) 293 UNITS LIONS RIDGE (1.4 MILES AWAY) 113 UNITS Municipal Site Local’s Housing Expected Redevelopment Projects Study Area legend COUNCIL UPDATE 9 VAIL COMMUNITY DEVELOPMENT VAIL POLICE DEPARTMENT MUNICIPAL COURT AND COUNCIL CHAMBERS RECYCLE CENTER VAIL HEALTH HOSPITAL EVERGREEN LODGE AT VAIL PUBLIC ACCOMMODATION COMMERCIAL SERVICE CENTER HIGH DENSITY MULTIPLE FAMILY GENERAL USE • Demolish and replace all portions of existing building to improve structure. • Re-configure all existing town operations to create development parcel for mixed- use and workforce housing. • Integrate site with the rest of town. B ig ideas VAIL CIVIC AREA | EXISTING CONDITIONS COUNCIL UPDATE M unicipal site 10 S FRONTAGE RD W INTERS T A T E 7 0 VA I L R D 55,000-70,000 SQ. FT.30’ HEIGHT RESTRICTION municipal site : 180,000 sq . ft . - 210,000 sq . ft . FLIGH T P A T H +/- 68’ HEIGHT LIMIT 55,000 - 70,000 SQ. FT. 125,000 - 140,000 SITE SQ. FT. FLIGHT PATH +/- 140,000 SQ. FT. +/- 140,000 SQ. FT. legend VAIL CIVIC AREA | ADVANCE THE BUILDING Existing / All of Town Services Existing Buildings Proposed / Town Development Program future town space needs 58,900 SQ. FT. buildout potential for the municipal site . +/-210,000 SQ. FT. existing 44,900 sq . ft . +=proposed 14,000 sq . ft . total town of vail space needs 58,900 sq . ft . MUNICIPAL OFFICES 14,900 SF MUNICIPAL OFFICES 5,000 SF 20,000 SF POLICE 30,000 SF POLICE 9,000 SF 39,000 SF COUNCIL UPDATE 11 existing - 44,900 sq . ft . +=proposed - 14,000 sq . ft . total town of vail space needs - 58,900 sq . ft . VAIL CIVIC AREA | EVALUATING THE TOWN’S SPACE NEEDS MUNICIPAL OFFICES 14,900 SF MUNICIPAL OFFICES 5,000 SF 20,000 SF POLICE 30,000 SF POLICE 9,000 SF 39,000 SF COUNCIL UPDATE 12 S FRONTAGE RD W INTERS T A T E 7 0 VA I L R D 55,000-70,000 SQ. FT.30’ HEIGHT RESTRICTION municipal site : 180,000 sq . ft . - 210,000 sq . ft . FLIGH T P A T H +/- 68’ HEIGHT LIMIT 55,000 - 70,000 SQ. FT. 125,000 - 140,000 SITE SQ. FT. FLIGHT PATH +/- 140,000 SQ. FT. +/- 140,000 SQ. FT. legend VAIL CIVIC AREA | ADVANCE THE BUILDING Existing / All of Town Services Existing Buildings Proposed / Town Development Program future town space needs 58,900 SQ. FT. buildout potential for the municipal site . +/-210,000 SQ. FT. COUNCIL UPDATE 13 municipal site KEY THEMES Provide a multi-purposed place for flexibility that addresses a number of local needs. l i V ing r oo M Create a gathering place for locals that is inviting to visitors. p rioritize l ocals Organize key representatives of town departments in the core. Utilize the public works site for less visible positions. K eep s taff V isi B le Create civic spaces which engage with the outdoors and broader views. c onnect to n ature +/- 68’ HEIGHT LIMIT 55,000 - 70,000 SQ. FT. 125,000 - 140,000 SITE SQ. FT. FLIGHT PATH +/- 140,000 SQ. FT. VAIL CIVIC AREA | CIVIC TASK FORCE INPUT COUNCIL UPDATE 14 VAIL CIVIC AREA | MUNICIPAL SITE: BIG IDEAS AND ASSUMPTIONS COUNCIL UPDATE esta B lish a project gateway along east side of property – no building development east of police station direct pedestrian energy to west edge through Evergeen site to Lot 10 and to east edge of property into Vail Village goals B ury all parking – except short-term / drop- off uses articulate building massing into stepped vertical bays to articulate and reduce monolithic / linear massing push to the extent possible, all building massing to the northern edge of property at west roundabout to maintain open space and create a community “front porch” for potential community/civic uses acti Vate the ground floor along South Frontage Road with articulated building massing, fenestration, landscaping and non-residential uses screen all services 15 VAIL CIVIC AREA | MUNICIPAL SITE: COMPARISON 142,400 gsf 20,000 sf Municipal Offices 19,700 sf Police 5,000 sf Police gym town program potential sellable development all acres sellable 1.38 acres potential sellable development all acres sellable town program all acres sellable 226,000 total gsf 2.03 acres 1.55 acres 19,500 sf Municipal Offices 13,000 sf Public Program 158,100 total gsf 44,700 gsf total total 145,100 sf potential sellable development COUNCIL UPDATE 16 option 1 - hub as community ’s living roomVAIL CIVIC AREA | MUNICIPAL SITE: ALTERNATIVE ONE 142,400 sf 21,500 sf Municipal Offices 21,500 sf VPD 6,000 sf Public Assembly Spaces / Council Chambers 49,000 sf 13,500 sf Parking Level 1 - Police-Only 19,500 sf Parking Level 2 - Public option a town program potential sellable development all acres sellable 1.38 acres p otential s ellable l and COUNCIL UPDATE 17 VAIL CIVIC AREA | MUNICIPAL SITE: OPTION ‘A’ REDEVELOPED community workshop 18 Police onlyPolice only PublicPublic Residential SITE VEHICLE ACCESS community workshop 19 PROGRAM MASSING community workshop 20 Police MuniMuni Chambers/meeting Municipal Offices Police Chambers/meeting 21,500 sf 21,500 sf 6,000 sf 49,000 sf PROGRAM MASSING Police only parking Public parking (aprox 45 stalls) 13,500 sf 19,500 sf community workshop 21 SIMPLE MASSING community workshop 22 ARTICULATED MASS - AXON FROM THE SOUTHWEST community workshop 23 SOUTHERN ROOF SPACE & COUNCIL CHAMBERS community workshop 24 ENTRANCE community workshop 25 APPROXIMATED VIEW OUT OF 5TH FLOOR SW FACING MEETING SPACE (NOT SHOWING BUILDINGS IMMEDIATELY TO THE SW) community workshop APPROXIMATED VIEW OUT OF 5TH FLOOR SW FACING MEETING SPACE community workshop 26 VAIL CIVIC AREA | AUGUST 7TH COMMUNITY WORKSHOP INPUT REAL ESTATE / HOUSING CHAMBERS / PUBLIC MEETING SPACE PUBLIC ACCOMMODATION COMMERCIAL SERVICE CENTER HIGH DENSITY MULTIPLE FAMILY 20 40 80 MUNICIPAL OFFICES AND ROOFTOP DECK POLICE OFFICES ARRIVAL GATHERING SPACE COMMUNITY LAWN Community development should include housing. Careful consideration should be taken in planning for increased traffic due to new development. H OU s IN g I-70PARKING PARKING ACCESS Redevelopment of City offices should include a public benefit beyond new staff offices. Council Chambers should be multi-purposed with a 300-seat event space. DE v ELOP m ENT f O r PU b LIC b ENE f IT PU b LIC /P r I vATE PA r TNE rs HIP - TO w N O w NED LAND f UTU r E DE v ELOP m ENT DETAIL s TO CON s IDE r - Library staff parking - Shading of interstate I-70 - Community events center with capacity for 300 seat event - Helicopter flight path proximity - Maximize private development - Allow for connections to occur to the area as a whole 3 CON s I s TENT INPUT THE m E s The Town of Vail should consider loaning the land to build municipal offices instead of residential development due to concerns about losing the land in the future. COUNCIL UPDATE 27 VAIL CIVIC AREA | MUNICIPAL SITE: FINANCIAL ANALYSIS COUNCIL UPDATE 28 VAIL CIVIC AREA | MUNICIPAL SITE PROGRAMMING COUNCIL UPDATE 29 VAIL CIVIC AREA | REVENUE COUNCIL UPDATE 30 VAIL CIVIC AREA | EXPENDITURES COUNCIL UPDATE 31 VAIL CIVIC AREA | NET CONDITIONS COUNCIL UPDATE 32 VAIL CIVIC AREA | CURRENT ANALYSIS COUNCIL UPDATE 33 STEP 1: THANK YOU! STEP 2: STEP 3: STEP 4: STEP 5: VAIL CIVIC AREA | NEXT STEPS Provide a context presentation to the Civic Task Force describing the existing physical and land use conditions of the civic hub, municipal site and public works site as well as opportunities and constraints of program development scenarios. Summarize Civic Task Force input from previous meeting and present updated program development scenarios. Refine the preferred programming option for the municipal site in response to further input from Council during today’s discussion. Hold public engagement workshops to identify the highest priority needs of the community and share concepts for the municipal site. Review implementation plan recommendations with council. COUNCIL UPDATE 34 Vail has a 62-year history of working together to create a remarkable place to live, work and play. Currently, we have 1000 affordable housing units in process; we work hard to expand transportation for locals and workers ; we have continuously improved play facilities for outdoor sports; and we have approved remodeling our indoor ice arena. The only thing Vail doesn’t have that other mountain towns and vibrant communities have is a Cultural Center with spaces that provide for artistic expression, education, entertainment, gathering places to explore new ideas, meet friends, and hold community events, workshops and performances to enrich the lives of our residents and workforce. A community that invests in culture and appropriate facilities cultivates a dynamic environment for locals to thrive, connect and innovate. So, to continue the evolution of this amazing town, it is essential we build facilities that bind us together and promote activities that lead to a more complete and harmonious community. Thus, I suggest we look at the Civic Plan as an opportunity to invest in the future for all citizens, workers and visitors. We may need to do it in phases, but it is imperative that we look at it in its entirety so we can set priorities. The goal is to create a community hub that enriches our lives, Yes! Facilities that continue to improve our opportunities and quality of life! 35 AGENDA ITEM NO. 2.2 Item Cover Page DATE:September 3, 2024 TIME:75 min. SUBMITTED BY:Stephanie Bibbens, Town Manager ITEM TYPE:Presentation/Discussion AGENDA SECTION:Presentation/Discussion (12:30pm) SUBJECT:Dobson Arena Update (1:15pm) SUGGESTED ACTION:Listen to presentation and provide feedback. PRESENTER(S):Greg Hall, Director of Public Works and Transportation VAIL TOWN COUNCIL AGENDA ITEM REPORT ATTACHMENTS: Dobson_Update_240903_Final Dobson Arena Town Council Slide Deck 9.03.24 Final 36 1 TO: Vail Town Council FROM: Greg Hall, Director of Public Works, and Transportation Dobson Project Team and Owner’s Representative DATE: September 3, 2024 SUBJECT: Dobson Arena Remodel Project Update and Owner’s Planning and Environmental Commission(PEC) and Design Review Board application(DRB) approval I. SUMMARY •Provide the Town Council with an update of the design progress, construction cost trending, and planned schedule. •Provide Town Council (as owner of the project) with a review of the design and program developed and permission to submit a Conditional Use permit application to the Planning and Environmental Commission and Design Review Board. •Update the Town Council on the next steps regarding the project. II. BACKGROUND On July 18, 2023, at a joint meeting of the Vail Recreation District (VRD) and Vail Town Council discussed project design elements, budget and funding. The project team and staff returned to the Vail Town Council on August 4 to address concerns as well as provide solutions to issues raised at the earlier meeting. On August 4, 2023, the Vail Town Council directed staff regarding the program elements and components of the conceptual design of the Dobson Arena Project and set an overall project budget of $55,391,124. On August 18, 2023, the Vail Town Council awarded a design contract to Populous Architects for the Dobson Arena Remodel project. The first phase of the design scope was to build the conceptual design program into a schematic design package for the project. On October 18, 2023, the Town of Vail issued a Request for Qualifications for Construction Manager/General Contractor (CM/GC) services for the Dobson Arena Remodel Project. 37 2 By November 17, 2023, the Town shortlisted the RFQ responders to four General Contractors: • Mortenson • Hyder- McHugh • Saunders • GE Johnson The design team, owners’ representative team, and staff from the Vail Recreation District and the Town spent three months to build out the design as part of the schematic design process. On November 21, the design team presented a detailed review of the proposed schematic design package to the Vail Recreation District/Town of Vail Recreation Subcommittee. The Subcommittee, including two Town Council members and two Vail Recreation Board members, agreed the project was delivering on what was approved at a conceptual level. On December 5, 2023, the team confirmed that the schematic design was in alignment with the goals of the design objectives outlined at conceptual level and received approval to issue a Request for Proposal to the four shortlisted General Contractors regarding providing CM/GC services for the Dobson Arena Remodel Project as presented in the Schematic Design update. On December 11, 2023, the project team released the RFP which included an extensive schematic design package vetted over three days by the town, VRD, the design team and the owners’ representative to the three remaining General Contractors. On January 30, 2024, the general contractors submitted the detailed responses to the RFP including comprehensive schedules, staffing matrices, general and indirect costs breakdowns, General Contractor Fees and an initial GMP budget based on the schematic design package. An evaluation team then rated each RFP based on agreed-upon criteria. The evaluation team was made up of members of the design team, VRD staff, town staff, and the owners’ representative Cumming Group. On February 20, 2024, the three contractors then participated in 2-hour interviews with the evaluation team and were rated on the interview portion of the process. On March 5, 2024, the team presented the results of the competitive process of hiring a General Contractor, Hyder/McHugh. At that time, the project budget came in significantly over budget; $76M versus an available budget of $55,391,000. In response, the team presented multiple program options to Council, seeking feedback on the preferred path forward. Council then asked that this team narrow down to three main options: a “repair and refresh” of Dobson as it is today; an enhanced program that scales up to the available budget; and an enhanced program that included a raised (new) roof structure. 38 3 On June 5th, the team presented those project options at a joint meeting of the Vail Town Council and Vail Recreation Board. After presentation and discussion, an option (B) was selected, and the design team was approved to move to the Design Development and entitlement process based on the program elements and budget. Option B as described below was submitted with two distinct alternates to carry for pricing and entitlement. Option B budget remained at the $55.4 M previously approved by Town Council. On August 20th, the recreation subcommittee reviewed the progress of the project design, project parameters and costing trends and provided feedback to project team. III. APPROVED DESIGN PROGRAM COMPONENTS Option B – Recommended Program within Targeted Budget of $55.4 M as Approved at the June 5th Town Council meeting. •Reinforced Roof – Keeps the Dobson look •Refreshed locker rooms with expansion, providing an equitable solution •Expanded South Lobby & New West Entry •Sets the Stage for the Civic Area Master Plan •Full Replacement of mechanical, electrical and plumbing (MEP) •Updated building envelope will reduce operating costs •Resolves ADA access •Improved experienced with Lounge, Concessions and Bathrooms •Exterior and Interior Refreshed •Enhanced Flexibility for Events •Restrooms designed for a Max Hockey Event •Alternate option for North Bathrooms to be priced •Storage and back-of-house improvements The above proposed option has been vetted and reviewed by the VRD and TOV, with excitement for the proposed amenities that will enhance the user experience for those who use the arena on a daily basis, as well as the attendees of the many games, concerts, corporate and special events to be hosted there. IV. APPROVED DESIGN UPDATES The project design team has completed 50% Design Development drawings. The 50 % Design Development drawings have been provided to the contractor and will continue to be reviewed in detail by the project team over the next couple of weeks. The 50% design development set also establishes the basis for the entitlement process. This includes a Conditional Use for the Dobson changes and then a Design Review board submittal. This session will focus specifically on both application elements. The application outlines the project changes to the building and the site for review by the PEC based on the code review criteria. The zoning of the Dobson site is General Use, and as such, the typical development design elements of setbacks, 39 4 height, site coverage are not prescriptive but established specifically by the Planning and Environmental commission in their review and approval. Building Capacity and Program The Applicants team has developed and refined an expanded program based on discussions with AEG promoters and a site visit to their 3,950 capacity Mission Ballroom venue in Denver. The collected feedback provided additional input on event arrival sequencing and egressing of occupants, customer experience enhancements including upgraded ventilation and bathrooms, rigging capacity and feedback on concessions and vending. With this information, the design was refined to achieve a standing room capacity of 2,400 occupants on the arena floor level versus the previously proposed 2,000. The capacity for ice service events remains at 1,400 spectators. The overall capacity was increased to 2,240 based on the current approved budget and the opportunity to increase total capacity to 3,500 was made possible through the development of an alternate to add north bathrooms. This design was driven by two major factors: (1) additional required ventilation and restroom requirements per occupant load (2) and updating the life safety performance of the facility. Our team has reviewed the occupant layout for performances and confirmed the performance layout options provide adequate flexibility for shows of various types all the way up to the maximum occupancy allowed. The updated budget below provides a summary of the two scenarios. Site Plan The site plan has been refined to provide the design intent and limits of improvements. The introduction of bollards to delineate and provide an area that can be secured during events has been added. The bollards also provide a level of security from a potential vehicular assault on the crowd. Parking Plan The existing capacity of Dobson is 2,840 for concert events. The increased capacity is planned for 3,500. The large crowd events will be staged during the evening when there is significant parking within the Lionshead Parking structure. Later analysis indicates that about 150 cars may be needed to accommodate 760 more occupants. This considers that some participants are already in town and parked for the day, others are staying in a lodging property for the event, using both the Town and Core transit services. Furthermore, the Towns managed parking plan, and lots have provided capacity for recent events hosting up to 4,500 attendees and past winter evening events as high as 8000 spectators with no overflow parking occurring. Based on the Applicants experience of managing parking for large in-town events and considering the implementation of additional parking management strategies per the Town Council adopted strategic plan along with the experience in managing special events with transit service the town staff is comfortable that the additional capacity at Dobson will not have a negative effect on parking once completed. 40 5 Site Circulation The plan addresses the site circulation around Dobson for everyday use as well as special events. This will include emergency service vehicle access for all events. The one area that will be altered is the current drop off at the west entry. This will be eliminated due to the design elements being placed in this location. A select number of the closest parking spaces within the first level of the Lionshead Parking Structure will be signed as 15-minute parking to allow this function to take place in a convenient and safe manner. This will also eliminate vehicles crossing the busy pedestrian crossing from the west end of the Lionshead Parking Structure to the Lionshead Mall. In the end, the arena and the amenities will enhance the user experiences for those who use the arena daily to the many spectators who attend the many games, concerts, and special events held at the arena. The design team is submitting a full application for the Planning and Environmental Commission to address the submittal requirements and the review criteria for the Conditional Use permit as well as Design Review Board application. Please note that the Town Council is reviewing these elements as the owner, and should provide their comments as such and appropriately, understanding a submittal to the boards could result in the Town Council later sitting as a quasi-judicial board and comments made now regarding review criteria and thoughts associated with that criteria could jeopardize future project approval processes. V. APPROVED PROJECT BUDGET AND COST TRENDING UPDATE As a reminder, the project funding sources were established and carried over from the last Council memo and are as follows: Project Funding Sources: Vail Reinvestment TIF funds $ 48.8 M VRD funding the Ice System Hard and Soft Costs $ 3.0 M Real Estate Tax Funds over the next 5 years allocated $ 0.8 M General Fund reserves allocated for Temp Sheet Ice $ 1.0 M Remaining from reserves, fundraising, and loans $ 1.8 M Initial budget funding $ 55.4 M 41 6 Funding as reflected in the Town budget: 2023/2024 Capital Budget (Approved) $ 5.05 M 2025 Proposed Capital Budget $ 50.35 M Total Project Budget $ 55.40 M COST UPDATE The table above represents the continuation of the cost studies that we have performed for two major options. The base design allows us to seat 2,240 occupants. The limiting factor for occupants is bathroom fixtures. The team has refined the design to maximize the occupancy that is capable within the current budget. The second option is an updated budget that reflects the base program with an addition to the north that allows for an additional 20 bathrooms. This alternate which provides additional capacity, allows the TOV to seat 3,500 occupants in the facility. The applicants’ team has developed flexibility in approval by pricing the north bathrooms as an alternate. As the team progresses, they will continue to refine design and costs and will continue to competitively price the 100% Design Documents with the goal of adding the north restrooms at the best possible price if desired by the TOV. VI. NEXT STEPS Upon Town Council’s approval of the proposed design, the Dobson project team is prepared to finalize a PEC conditional use application submitted to the town on August 26th. The first hearing by the PEC would take place on September 23rd. The design team will prepare a DRB application for submittal to the Town on September 9th. A work session with the DRB would be scheduled as well. The first DRB meeting would take place on October 2nd. With final approval of the PEC and DRB, the design team will finalize the plans and complete the 100% Design Development (DD) plan set. The Hyder/McHugh CM/GC team will price the 100% DD set with the subcontractor market. The staff 42 7 and team will return to the Town Council in the December timeframe to review the pricing and may seek permission to pursue any necessary early procurement at that time for portions of the project. VI. ACTION REQUESTED The project team requests approval of the project design to be submitted on behalf of the Town to the Planning and Environmental Commission as an application of a conditional use as well as a Design Review Board Application. As mentioned above, the applications will include the North Bathrooms as an alternate should Town Council decide to fund that portion of the project. VII. ATTACHMENTS PowerPoint Presentation 43 Dobson Arena Renovation – Program Update |Town Council Update September 3, 2024 44 Dobson Arena Update – June 4, 2024 2 Agenda: •Update of Preconstruction Progress •Preview of Application to PEC - Project Highlights •Preview of Design Review Board Application •Budget Update •Next Steps – o Approval to complete entitlements and 100 % Design Development Documents Dobson Arena Update – September 3, 2024 45 2 Our ‘NEXT STEPS’ From The Last Council Presentation: •Finalized the Program Option Choice with your Approval -Complete •Move to Design Development Phase –50% DD Docs Issued •Start the PEC and DRB entitlement Process –Started; On Track •Meet Again with the Building and Fire to Confirm Progress -On- Going •Start the Preconstruction Process in Earnest and Conduct Additional Investigations to Refine Design, Budget and Schedule –In Progress •AEG Input on Design for Show Production –On Going Dobson Arena Update – September 3, 2024 46 2 •Reinforced Roof – Keeps the Dobson Look •Refreshed locker rooms with Expansion •Provides Full Equitable Solution for Locker Rooms •Reduced South Lobby & West Entry •Sets the Stage for the Civic Center Master Plan •Full Replacement of MEP •Updated Envelope will Reduce Operating Costs •Resolves ADA Access •Lounge, Concessions and Bathrooms are Improved •Exterior and Interior Refreshed •Enhanced Flexibility for Events •Restrooms designed for Max Hockey Event •Alternate for North Bathrooms to be Priced •Temporary Restrooms for Bigger Capacity under review with AHJ •Reduced Site Improvements Recapping the Preferred Option B – Approved Program within Targeted Budget of $55.4M set on 6/4/24 Dobson Arena Update – September 3, 2024 47 2 Dobson Arena Update – September 3, 2024 Preview of Application to PEC/DRB KEY Planning and Capacity Updates •1,400 + staff capacity for hockey •3,500+100(staff) for shows – restricted by ventilation •2,400 S.R.O. Max capacity on the floor for flexibility of performances •45 internal Bathroom Fixtures from 28 Currently accommodating up to 2,240 capacity •Hybrid bathroom design option to stage 20 external portables including ADA units (Under review by AHJ and or/Special Event permitting process) to reach max 3,500 capacity if North Bathrooms are not built. •Rigging input provided by AEG for design •45 TOTAL Internal bathrooms with 20 Additional Internal bathrooms with North Restrooms + concession space alternate for 3500 capacity all internal(Under Review) •New West Entry •New South Entry •New Northeast and Northwest Mechanical screened yards •Added “Doghouse” on Northeast Roof for ventilation access 48 2 Dobson Arena Update – September 3, 2024 Preview of Issues of PEC/DRB Applications •Existing conditions •Architectural Perspective and Elevations •Mechanical Yard Screens •Program Overview •Bathroom Updates •Roof Plan Overview •Site Plan Overview with Landscaping •Additional Considerations 49 2 Dobson Arena Update – September 3, 2024 Preview of Application to PEC/DRB SOUTH WEST EAST NORTHWEST 50 2 Dobson Arena Update – September 3, 2024 Preview of Application to PEC/DRB SOUTH WEST EAST NORTHEAST 51 2 Dobson Arena Update – September 3, 2024 Preview of Application to PEC/DRB EXTERIOR PERSPECTIVE – ROOF VIEW 52 2 Dobson Arena Update – September 3, 2024 Preview of Application to PEC EXTERIOR PERSPECTIVE – SOUTHWEST VIEW 53 2 Dobson Arena Update – September 3, 2024 Preview of Application to PEC/DRB EXTERIOR PERSPECTIVE – WEST VIEW 54 2 Dobson Arena Update – September 3, 2024 Preview of Application to PEC/DRB EXTERIOR PERSPECTIVE – SOUTH VIEW 55 2 Dobson Arena Update – September 3, 2024 Preview of Application to PEC/DRB EXTERIOR PERSPECTIVE – SOUTHWEST VIEW 56 2 Dobson Arena Update – September 3, 2024 Preview of Application to PEC/DRB WEST ELEVATION 57 2 Dobson Arena Update – September 3, 2024 Preview of Application to PEC/DRB SOUTH ELEVATION New Roof match existing roof Vent turrets to be removed 58 2 Dobson Arena Update – September 3, 2024 Preview of Application to PEC/DRB EAST ELEVATION Duct color to compliment roof or screening 59 2 Dobson Arena Update – September 3, 2024 Preview of Application to PEC/DRB NORTH ELEVATION 60 2 Dobson Arena Update – September 3, 2024 Preview of Application to PEC/DRB NORTHEAST & NORTHWEST VIEWS – M.E.P. SCREEN WALLS NE M.E.P. SCREEN WALL 8' ABOVE GRADE, 5'-6" EYE LEVEL NW M.E.P. SCREEN WALL 8' ABOVE GRADE, 5'-6" EYE LEVEL 61 2 Dobson Arena Update – September 3, 2024 Preview of Application to PEC/DRB EVENT LEVEL Expansion Area 62 2 Dobson Arena Update – September 3, 2024 CONCOURSE LEVEL Expanded Second Floor Alternate Bathrooms Alternate to Fit Out Admin 63 2 Dobson Arena Update – September 3, 2024 Preview of Application to PEC/DRB CONCOURSE LEVEL – STAGE CONFIGURATION 40’x44’ Stage 64 2 Dobson Arena Update – September 3, 2024 Preview of Application to PEC/DRB BATHROOM UPDATES Base Option – 2,240 Occupants Max Option – 3,500 Occupants 65 2 Dobson Arena Update – September 3, 2024 Preview of Application to PEC BATHROOM UPDATES North Bathrooms Alternate 66 2 Dobson Arena Update – September 3, 2024 Bathrooms: Temporary versus Permanent Pros Can occupy up to 2,240 Can occupy up to 3,500 with kill seats Can support 90% of events with this configuration Will never need to use portables Tap fees not impacted by increased restrooms Better Vail Customer Experience Cons 20 temp bathrooms required $1,426,000 increase to budget Cost to build will continue to go up 67 2 Dobson Arena Update – September 3, 2024 Preview of Application to PEC/DRB ROOF PLAN Areas of Roof Expansion 68 2 Dobson Arena Update – September 3, 2024 Preview of Application to PEC/DRB SITE PLAN 69 2 Dobson Arena Update – September 3, 2024 Preview of Application to PEC/DRB SITE PLAN - WEST 70 2 Dobson Arena Update – September 3, 2024 Preview of Application to PEC/DRB SITE PLAN - WEST 71 2 Dobson Arena Update – September 3, 2024 Preview of Application to PEC/DRB •Site Accessibility •Managed Parking - Shall follow the typical Special Event management for large event parking to occur at Lionshead structure + Vail Village structure and at Red Sandstone •Geologic Hazards •Environmental Impact •Site Development Calculations 72 2 Dobson Arena Update – September 3, 2024 Current Budget Update Base Option With North Bathrooms 2240 Seats 3500 Seats Hard Cost $43,452,405 $43,452,405 Soft Cost $12,482,228 $12,482,228 Total $55,934,633 $55,934,633 Targeted Budget $55,391,228 $55,391,228 Variance $543,405 $543,405 Alternates North Restrooms $0 $1,426,000 Admin Fit Out $0 $0 Temp Ice Contribution $0 $0 Updated Budget $55,391,228 $56,817,228 Over/Under with Alternates $0 $1,426,000 Construction Duration 18.5 months 18.5 months The team developed a strategy to reduce the budget through multiple design changes to bring the project within budget while refining the program to its current state. The secondary goal was to preserve contingency via the design adjustments 73 Project Milestones Dobson Arena Update – September 3, 2024 PEC/DRB Process 6/4/2024 Approval of budget and Program to move to Design Development(DD) 9/3/2024 Approval to submit to PEC/DRB Sept '24 - Oct '24 PEC/DRB entitlement process Oct '24 - Nov '24 DD pricing Oct '24 - Jan '25 Prepare Construction Documents Nov '24 - Jan '25 Develop Early Demoliton Package 12/17/2024 Town Council Approval of DD Design and Price. Permission to Make Early Awards 1/3/2025 Town Council Early Award Procurement Jan '25 - Feb '25 Final Pricing March '25 Finalize GMP and Issue GMP Amendment March '25 to Fall '26 Construction Period 74 2 Recommendations: •Continue Design Progression to 100% Design Development and Take to Market to Price We are seeking input on the following next steps: •Further discussion about temporary verses permanent bathrooms •Impacts to budget of permanent bathrooms •Impact on ice programs during construction •Options to increase programming beyond ice events(operational costs and revenue enhancements) •Naming Rights and Sponsorships •Progress with PEC and DRB entitlement Process •Meet Again with the Building and Fire to Confirm Progress of Design •Conduct Additional Investigations to Refine Design, Budget and Schedule Dobson Arena Update – September 3, 2024 75 2 Thank You - Questions - Dobson Arena Update – September 3, 2024 76 AGENDA ITEM NO. 3.1 Item Cover Page DATE:September 3, 2024 SUBMITTED BY:Greg Roy, Community Development ITEM TYPE:DRB/PEC Update AGENDA SECTION:DRB/PEC (2:30pm) SUBJECT:DRB/PEC Update (5 min.) SUGGESTED ACTION: VAIL TOWN COUNCIL AGENDA ITEM REPORT ATTACHMENTS: DRB Results 8-21-24 PEC Results 8-26-24 77 Design Review Board Minutes Wednesday, August 21, 2024 2:00 PM Vail Town Council Chambers Present: Roland J Kjesbo Kit Austin Rys Olsen Herbert Roth Absent: Mary Egan 1. Virtual Meeting Link Register to attend Design Review Board Meetings. Once registered, you will receive a confirmation email containing information about joining this webinar. 2. Call to Order 3. Main Agenda 3.1 DRB24 -0132 - Stupp/Payne/Mills Residences Final review of an exterior alteration (landscape) Address/ Legal Description: 1592 Matterhorn Circle/Lot 2/Timber Vail Subdivision; 1602 Matterhorn Circle/Lot 1, Timber Vail Subdivision; 1612 Matterhorn Circle/Lot 27A, Matterhorn Village Filing 1 Planner: Jamie Leaman-Miller Applicant Name: Robert Stupp DRB4-0132 Documents.pdf DRB24-0132 Plans.pdf Rys Olsen made a motion to Approve with the findings it meets 14-10-9; Roland J Kjesbo seconded the motion Passed (4 - 0). 3.2 DRB19-0688.003 - Alura Final review of a change to approved plans (Building 3) Address/ Legal Description: 1488 Matterhorn Circle/Vail Park Meadows Planner: Jonathan Spence Applicant Name: Alura, represented by Pierce Austin Architects Alura Narrative.pdf Proposed Plans.pdf Previous approved plans.pdf Building 1 (under construction).pdf Alura 3D.pdf (Austin recused) Rys Olsen made a motion to Approve with the findings it meets 14-10-6; Roland J Kjesbo seconded the motion Passed (3 - 0). Design Review Board Meeting Minutes of August 21, 2024 1 78 3.3 DRB24-0269 - Lebowitz Residence Final review of an exterior alteration (windows/doors) Address/ Legal Description: 356 Hanson Ranch Road/Lot D, Block 2, Vail Village Filing 1 Planner: Greg Roy Applicant Name: David Lebowitz, represented by KH Webb DRB24-0269 Plans.pdf DRB24-0269 Pics.pdf Herbert Roth made a motion to Table to the September 4th, 2024 meeting; Roland J Kjesbo seconded the motion Passed (4 - 0). 3.4 DRB23-0403 - MacPhee Residence Final review of an exterior alteration (railings) Address/ Legal Description: 2735 Snowberry Drive B/Lot 12, Block 9, Vail Intermountain Development Subdivision Planner: Heather Knight Applicant Name: David & Angela MacPhee 2735 Snowberry Drive Unit B Rail change.pdf Neighbor approval email.pdf Herbert Roth made a motion to Table to a date uncertain; Rys Olsen seconded the motion Passed (4 - 0). 4. Staff Approvals 4.1 DRB23-0428.001 - Town of Vail Final review of a change to approved plans (HVAC) Address/ Legal Description: 75 South Frontage Road West/Unplatted TOV Administration Building Planner: Jonathan Spence Applicant Name: Town of Vail, represented by Hyder Construction 4.2 DRB24-0190.001 - Matterhorn1546 LLC Final review of a change to approved plans (deck) Address/ Legal Description: 1546 Matterhorn Circle 6/Hobbit Hill Phase 1 Planner: Jonathan Spence Applicant Name: Matterhorn1546, represented by Shepherd Resources 4.3 DRB24-0179 - Thulborn/Tarbell Residence Final review of an exterior alteration (windows/doors) Address/ Legal Description: 4460 Timber Falls Court 1604/Timber Falls Condominiums Planner: Jamie Leaman-Miller Applicant Name: Sally Tarbell & Keith Thulborn, represented by Renewal by Andersen 4.4 DRB24-0247 - Sloan Residence Final review of an addition Address/ Legal Description: 2335 Bald Mountain Road A3/Lot 26, Block 2, Vail Village Filing 13 Planner: Jamie Leaman-Miller Applicant Name: Jason & Alicia Sloan, represented by Alpine Building & Development Design Review Board Meeting Minutes of August 21, 2024 2 79 4.5 DRB24-0264 - Biszantz Residence Final review of an exterior alteration (tesla batteries) Address/ Legal Description: 2897 Timber Creek Drive D24/Lodges at Timber Creek 3rd Supplement Planner: Jamie Leaman-Miller Applicant Name: Samantha Biszantz, represented by Active Energies Solar 4.6 DRB24-0271 - Schoonover Residence Final review of an exterior alteration (heat pump) Address/ Legal Description: 2607 Arosa Drive 1/Lot 12, Block E, Vail Das Schone Filing 1 Planner: Jamie Leaman-Miller Applicant Name: James Schoonover, represented by Control All Mechanical 4.7 DRB24-0293 - Karp Residence Final review of an exterior alteration (windows) Address/ Legal Description: 1819 Meadow Ridge Road F/Lot 13 & 14, Buffehr Creek Subdivision Planner: Jonathan Spence Applicant Name: Karen Karp, represented by Lifetime Windows and Siding 4.8 DRB24-0298 - Vailwest LLC Final review of a tree removal Address/ Legal Description: 1800 Sierra Trail/Lot 25, Vail Village West Filing 1 Planner: Jonathan Spence Applicant Name: Vailwest, represented by Vail Valley Tree Service 4.9 DRB24-0306 - Middleton Residence Final review of a tree removal Address/ Legal Description: 1865 West Gore Creek Drive/Lot 23, Vail Village West Filing 2 Planner: Jonathan Spence Applicant Name: Kathryn Middleton, represented by Timber Pro Tree Service 5. Staff Denials 6. Adjournment Roland J Kjesbo made a motion to Adjourn ; Herbert Roth seconded the motion Passed (4 - 0). Design Review Board Meeting Minutes of August 21, 2024 3 80 Planning and Environmental Commission Minutes Monday, August 26, 2024 1:00 PM Vail Town Council Chambers Present: David N Tucker William A Jensen John Rediker Scott P McBride Brad Hagedorn Robyn Smith Absent: Robert N Lipnick 1. Virtual Link Register to attend the Planning and Environmental Commission meeting. Once registered, you will receive a confirmation email containing information about joining this webinar. 2. Call to Order 3. Main Agenda 3.1 A request for a recommendation to the Vail Town Council for a major amendment to Special Development District No. 4 (Cascade Village), pursuant to Section 12- 9(A), Special Development Districts, Vail Town Code, to allow for the redevelopment of the covered parking, the construction of five new free-market condominiums, one new employee housing unit, and associated site improvements at Coldstream Condos, located at 1476 Westhaven Drive, Lot 53, Glen Lyon Subdivision and setting forth details in regard thereto. (PEC24-0017) Planner: Heather Knight Applicant Name: Coldstream Ltd., represented by High Summit PEC24-0017 Staff Memo.pdf Attachment A. Coldstream Condos - Vicinity Map.pdf Attachment B. Applicant Narrative.pdf Attachment C. Architectural Plan Set.pdf Attachment D. Site Grading Plan.pdf Attachment E. Title Commitment.pdf Attachment F. 2012 PEC Memo and Worksession.pdf Attachment G. PEC Minutes, September 24, 1990.pdf Attachment H. Town Council Minutes, October 2, 1990.pdf Planner Knight gives a presentation. She talks about the history of the SDD and the subject site. She walks through the proposed development and site plan. She talks about the criteria for approval. Hagedorn asks about the setbacks above grade versus below grade. Knight clarifies. Planning and Environmental Commission Meeting Minutes of August 26, 2024 1 81 Smith asks if this would require a variance if it was HDMF (High Density Multi-Family)? Knight confirms. Smith asks about the public benefit. Knight says they would contribute $100,000 towards the general housing fund or to improve the bike path in that area. Rediker asks where public benefit fits into the criteria? Roy says it’s not part of the criteria or findings, it is decided by Town Council. The PEC can give their input, but it’s not part of the criteria for the decision today. Hagedorn confirms that the setback variation is specific to this development, Knight confirms. Rediker asks for clarification on the site plan in regard to the parking garage. The applicant is represented by Sean Hanagan, Henry Pratt, and Greg Finch. Hanagan talks about the history of the site and the proposed plan. He talks about the proposed public benefits, including a $100,000 contribution towards the pedestrian path or general housing fund. Pratt talks about the retaining walls and garage on the west end of the proposal. Hanagan walks through the elevations and the landscape plan. Rediker asks for some clarification as to the southwest corner of the proposal. Rediker and Pratt discuss retaining walls and setback in this area. Hagedorn asks about counterforts, Pratt says they are hypothetical, the engineering hasn’t been completed yet. Rediker and Pratt discuss the garage entrances. Smith asks about the compatibility criteria. Pratt says the color of the gravel will match. Finch says the project has gone through a lot of iterations. Landscaping in that area could be a challenge, owners in that area are also concerned about their views being preserved. Hanagan adds that not having a public space there adds some privacy to the EHU. There are economic factors, and people on that end are concerned about losing their sunlight. Smith asks how they got to the $ 100,000 figure for public benefit. Fish says the project has been kicked around 12 years, the economics are the reason. The fire lane requirements required some reworking, it was a number that was arrived at that they thought the HOA and the Town would live with. Smith asks about the EHU requirements on past projects, Pratt says the previous second EHU was intended to be a management unit, that need went away. Hanagan says they took into consideration current housing costs and deed-restriction conversion costs for a comparable unit and determined that $100,000 was appropriate. Jensen says an EHU here would have significantly more value than Timber Ridge. It’s hard to project the value of that unit right now, but it’s higher than what you estimated. Jensen and Finch discuss the EHU. Finch says it is a big risk for the HOA. Jensen says heated indoor parking versus what was there, increases the value of the property. Hanagan mentions that public benefit is not a criteria for approval, it’s commensurate to the ask in the deviations. Knight says they are above the EHU requirements, it is a 1,200 sf unit when 1,000 sf is the requirement. Jensen says he’s not arguing against the contribution, thinks it’s a good number. Our role is to represent Planning and Environmental Commission Meeting Minutes of August 26, 2024 2 82 the community but it’s not our decision it’s the Town Councils. Agrees that it does meet the requirement for the EHU. Tucker Jones is a board member on the HOA, the owners want to improve this property, but an HOA is like herding cats. It will be a tough sell when owners vote on assuming this debt and liability. Smith asks about the process. Knight says Council has the final say on the public benefit and it will go to Council before DRB. Rediker discuss storm sewer with Town Engineer Tom Kassmel. Hanagan and Knight talks about the recreation fee. Rediker asks for public comment. Renee Miles is a resident of Coldstream and commends the applicants and staff. They have been owners since 2008, they are supportive of the project, particularly as it will help mitigate the impact of Alura to the south. Rediker closes public comment. He asks for commissioner comment. Tucker says it is an artful way to meet the criteria. Knowing the site, you’ve done a good job of fitting everything in and a solution that is feasible. Smith says the purpose of the SDD is to encourage flexibility and creativity. This is a fantastic project overall that will add to the value of the community. The setback and GRFA requests are warranted. The flat roof where there used to be an EHU should be up to DRB. Will withhold approval, don’t think the public benefit is commensurate. Council should be the one negotiating on what an appropriate public benefit is. Jensen says it’s a good project and creative. No issue with GRFA or garage setback. It benefits the community and diminishes the impact of the adjacent project to the south. It’s not our responsibility to weigh in on public benefit, Council will address that, supports the application. Hagedorn thanks applicants, it’s a creative way to address deficiencies. This is a win-win, the GRFA ask is mitigated, replacing mass within a similar development area. Setback ask is mitigated because its below grade, the project is well under allowable density on unit basis, the EHU square footage is going beyond the requirement. Suggests the public benefit contribution is used for housing. Rediker says there is a plan that meets the criteria. Setbacks are ok as they are below grade, concerned about walls on north side that are flat and not attractive, which impacts massing negatively. But the DRB will look at compatibility, concerned about what that wall will look like from a design perspective. Concerned about trap for overflow, what you have will go in and comply with Town Code, need to maintain that. Agrees that the criteria are met. McBride agrees that criteria are met, concerned about the setback any disputes that might arise with the closeness to property line. On the whole a creative proposal and a lot of thought has gone into this. Agrees with Hagedorn, a great use might be with respect to deed restrictions. Hagedorn adds a bioswale at the edge of the culvert would be a good idea. William A Jensen made a motion to Recommend for approval with the conditions on page 14 of the staff memo and the findings on page 14- 15; Brad Hagedorn seconded the motion Passed (5 - 1). Voting For: William A Jensen, Brad Hagedorn, John Rediker, Scott P McBride, David N Tucker Planning and Environmental Commission Meeting Minutes of August 26, 2024 3 83 Voting Against: Robyn Smith 3.2 A request for a recommendation to the Vail Town Council for a major amendment to Special Development District No. 4 (Cascade Village), pursuant to Section 12-9(A), Special Development Districts, Vail Town Code, to allow for the development of a mixed use project on the property known as the Cornerstone site, located at 1276 Westhaven Drive/ Cornerstone Parcel, Liftside/Cornerstone Subdivision and setting forth details in regard thereto. (PEC24-0016) Planner: Greg Roy Applicant Name: PHH Design Development PEC24-0016 Staff Memo August 26, 2024.pdf Attachment A. Vicinity Map.pdf Attachment B. Narrative-Project Description.pdf Attachment C. Amendment Materials June 27, 2024 Update.pdf Attachment D. Part 1.pdf Attachment D. Part 2.pdf Attachment D. Part 3.pdf Attachment D. Part 4.pdf Attachment D. Part 5.pdf Attachment E. Massing Model.pdf Attachment F. March 11, 2024 PEC minutes (Worksession).pdf Attachment G. June 10, 2024 PEC Minutes (Public Hearing).pdf Attachment H. July 8, 2024, PEC Minutes (Public Hearing).pdf Attachment I. Seter, Vander Wall and Mielke representing Cascade Village Metro District, May 20, 2024.pdf Attachment J. Caplan and Ernest representing applicant response letter, June 24, 2024.pdf Attachment K. Seter, Vander Wall and Mielke representing Cascade Village Metro District, August 8, 2024.pdf Attachment L. Jeff Babb, Vail resorts, memo to PEC, August 9, 2024.pdf Attachment M. Vail Hotel Partners Authorization, June 27, 2024.pdf Attachment N. Applicantâ€™s Presentation to the PEC, August 26, 2024_Part1.pdf Attachment N. Applicantâ€™s Presentation to the PEC, August 26, 2024_Part2.pdf Attachment N. Applicantâ€™s Presentation to the PEC, August 26, 2024_Part3.pdf Attachment N. Applicantâ€™s Presentation to the PEC, August 26, 2024_Part4.pdf Attachment O. Traffic Impact Study, August 6, 2024.pdf Roy gives a presentation. He walks through the history of the application. He talks about the history of the SDD. He walks through the site plan and proposed public benefits. Rediker asks about the potential easement for a paseo. Roy says there would need to be an easement to allow public access, in the event ownership to change. He talks about the Housing requirements. He talks about the criteria, Staff found it is not compatible with height and did not meet criteria 1, so the staff recommendation is a recommendation of denial. Jensen asks about the previous approvals. Roy says there was a 2008 approval, the SDD was approved with those amendment. Development plan was re-approved, approval extended until 2017 when it expired. They were never rolled back in the SDD language. Overall the amount of GRFA and number of units in planning area A is going down with the amendment. Jensen asks how do the previous approval weigh in to this? Roy says the proposed height is a deviation from what is set down in the SDD. Roy clarifies the owner’ lounge on the floor plans. Planning and Environmental Commission Meeting Minutes of August 26, 2024 4 84 Rediker asks for clarifications on the parking, which is one of the deviations. Roy walks through the existing and proposed numbers on the site plan. The ski club is a determination of use as part of the SDD. Rediker asks about the intent of having commercial parking onsite. When you’re trying to satisfy parking requirements, is there not concern that they’re not fulfilling parking onsite when you’re dealing with a potential third party offsite that could cut off the parking. Roy says that is why the code treats it that way, so the parking is onsite. Tucker asks would that weigh into the public benefit consideration. Roy says not specifically, as that situation exists in the villages today. Rediker brings up the housing requirements. Roy walks through the calculations for commercial linkage and inclusionary zoning, the applicants are proposing three EHU units within Cornerstone to meet the linkage requirements and a dormitory unit within CMC to meet the inclusionary zoning. Jensen asks what is the community intent with EHUs? Is the dormitory the intent of the zoning requirements? Roy says it can be requested, subject to the discretion of the review body. Dormitories have been approved, like in the Highline and Four Seasons, although the layout and specifics were different. Smith walks through the square footage requirements for housing mitigation. Rediker asks about occupancy restrictions for dormitory EHUs, Roy says it is one person occupying the space year-round with the exception of 3 months? Smith asks about the new fire truck, can that truck appropriate service this development as proposed? Kassmel says it would be up to the Fire Marshall. Roy says the Fire Department has reviewed this application and did not have concerns. Smith asks how the public art contribution was arrived at, Roy says it was proposed by applicant. The AIPP will review public art. Alonso Ruiz de Velasco is representing the applicant. He talks about the ownership situation in Cascade. Gabby Voeller with SE Group is part of the applicant team, says the tennis court are in a different zone district. Velasco walks through the existing conditions. He talks about easements on site. He talks about the building height and shadow study. Smith asks what the plan is if these units are not accepted as employee housing mitigation. Velasco says they have put money towards this and are hoping it can be accepted as mitigation. Hagedorn says this seems to be a business decision, how is this additive? Seems to be disconnected from the housing requirement. Velasco says they had the vision of satisfying the need for the hotel, Cornerstone created the opportunity to pursue this in parallel. We are investing a fair amount of money into this, high standards, high quality. Roy says per the EHU requirements, the employees of that specific project don’t have to occupy that space. Other business employees can be housed there as long at they meet the deed restriction requirements for employment. Hagedorn says on other projects with dormitories, the housing was developed in tandem with that project, it was clear that it was done to satisfy it. Here we have dormitories that are currently being built, they need deed restrictions to be occupied. Tucker says the public benefit pitch included employee housing to mitigate the deviations. Planning and Environmental Commission Meeting Minutes of August 26, 2024 5 85 Smith says it is a convenient double dip. Hagedorn asks if staff has concerns, Roy says its not exact but similar to the mitigation bank. He talks about the particulars of the Highline approval. Roy says it will have to be deed restricted, that’s the only way it can be permitted under zoning as there are no free- market dorms and adding free market units would have required a Major SDD Amendment application. Rediker, down the road can the owner tear out the dormitories if it wasn’t built fulfilling any requirements? Roy says it would be subject to employee housing exchange program at that point. Roy says there are two different paths, the first is the employee exchange program if it was outside of Cornerstone. If it was part of Cornerstone, they would have to come in for an amendment. EHUs satisfy the community housing need, they don’t have to be specific to the development. Voeller says because both buildings are within Area A, they are considered on-site. Smith asks how that differs from the parking condition for on site. Voeller says they wanted the residences to have parking within Cornerstone, and then the commercial parking spaces be across the street. Smith asks for clarifications on square footage, 5700 sf and 25 beds in dormitory. Smith discusses size of employee housing units in the code, wants to understand the requirements and the ask. Velasco continues presentation. Talks about landscaping and signage, as well as public benefits. Hagedorn says the height has been a concern since the beginning but the 97’ has stayed static. Appreciates the changes with the ski club, is there a reason why the height has not been changed? Velasco says we’re not looking at this as a standalone project, we’re trying to integrate it with the village. We do believe what we’re proposing to give matches up with what we’re asking for. There are improvements to the skier access among others. Hagedorn says the site visit hammered home the scale of that space. The 97’ from the paseo level, looking at comparisons you can see that marked difference. You’re viewing this as future compatibility not current compatibility? Velasco says that’s a good way to say it. Rediker asks for more detail on the building heights of the west wing. Velasco walks through the elevation. The first overhang on the east side stands at 86’ from the paseo level. The peak of the roof is at 97’ above the paseo. The western edge is 60’ from Westhaven and 86’ from the paseo. Smith is concerned about the proximity of the heated paseo to the lift and the ability to retain snow. This is an impervious surface very close to download area. Velasco says they will have those conversations. Rediker asks about off-site parking for commercial uses. Its good they have common ownership, but what happens down the road if those assets are split up? What guarantees to we have in the future that the Aria building will accommodate parking for the commercial site? Velasco says its hard to guarantee but we can see the example of how it was originally developed. The Aria building accommodated the parking for all the developments. Cornerstone should be added to that list. Roy says if it changed ownership in the future, it would remain in the SDD as spaces for that use. Per the code it can be met, but the Town doesn’t get involved with future management or how spaces are Planning and Environmental Commission Meeting Minutes of August 26, 2024 6 86 allocated inside the development. He gives examples of recent inquiries in other parts of town. Rediker asks if there is anything stopping a future owner from changing the parking use. Roy says they would be looking at an amendment and how the new use related to the parking table. Velasco says we’re coming back to where this site was 40 years ago, when it was under common ownership. The guarantee stands on what would be allowed to be done if it were to change ownership. Right now we want to take advantage of the existing infrastructure. McBride asks about the height. Velasco says its 97’ at the high point of the west wing, this is showing the perceptions of how it is perceived at different areas. McBride asks how that compares to other buildings in Town. Roy says off the top of his head there are maybe two or three that are a similar height. Rediker opens public comment. Mark Lessons lives in Cascade. There is a tractor trailer on Westhaven Drive to feed the hotel that has been there two weeks. You have to drive around that, if the hotel is part of this project that should be addressed as we look at the whole project. Westhaven gets clogged up because of this activity. Mark Waddell lives in Millrace, has concerns with basic operations and congestion in the area. The single lane in and out creates safety issues. When you force this entire neighborhood into two lanes, it doesn’t work. Supports development in general, but they have gotten greedy on this project. Walked through the new J1 housing, it’s the worst design in Vail. If there’s a kitchen fire there is extreme risk. They will exit through a side door and walk on to Millrace private property. How are they going to get to any place they can recreate or enjoy themselves? Grateful for their contribution to the community. Please look at the natural choke points that have been created for the safety of the community, it won't work. Scott Wagner is a Glen Lyons resident, on the board of the metro district. Their conversations with the applicants have been through an attorney. We have yet to have discussions with the applicants about this. The landscaping in the roundabout will not work well, concerned about taking away deceleration lane. Regarding the public benefits there is a lot of take and no give. The escalator is called a public benefit, there are existing escalators in the area that break all the time and have to be serviced out of Denver. Doesn’t understand how the turnaround will be partially heated, the rest is cleared by snowplows. The shade on the street will cause issues, the paseo will entail maintenance. Haven’t heard anything about a drainage study, there is a lot of impervious area. Part of the parking garage is deeded as public parking with TOV, also agreement with Vail Resorts, haven’t seen that in the calculations. The paseo stays dark most of the time, it’s not an extra benefit. What are the public benefits from past approvals in the SDD? The hotel height is not 71’ to his knowledge, it’s shy of 60’. Not in agreement on 97’ of proposed height, 71’ was a past agreement that expired and doesn’t know the concessions for that. Jill Tenenbaum lives in Millrace. Concerned about one way in and out, this is going to create horrible conditions and road congestion. Very pro building, but they’re trying to put an elephant in in a Volkswagen. Concerned about parking, won’t be enough for the retail. We don’t have enough space in the village for what this organization wants to do, they’re putting us all in a precarious situation. Don Guidry owns property in the neighborhood. Not against it, but they need to reduce the scope. Kim Gudmundson is in Millrace. Concerned about ticket office idea, that building will now be in a private building. Who has control over the maintenance? Planning and Environmental Commission Meeting Minutes of August 26, 2024 7 87 Janie Lipnick lives in Westhaven and is on the metro board. Shares concerns with others, height and bulk will ruin views and cast shadows. Not anti development, just want smart development, also concerned about traffic in and out. Also concerned about no dedicated loading for Cornerstone. Lorenza Cardenas is on the Liftside board. Concerned about setbacks, and the height. After July 8 meeting, they presented a letter with concerns. Concerns are still being ignored and there are slim to none public benefits. The turnaround will cause lots of traffic, where is Liftside supposed to exit? Where is landscaping in the project? The height, scale, and bulk are not compatible and will stick out. 97’ height conflicts the most, the neighbors are around 56’. Request for variations exacerbate the real and perceived bulk and mass. David Foster is counsel to Nolegio partners in Liftside. There are a number of concerns that are covered in the design criteria and necessary findings, in particular compatibility to immediate environment. The PEC has identified height, setbacks are not compatible in previous meetings and there have been no changes. Regarding the comprehensive plan, we’re within resort land use with a maximum density of 25 units per acre, this proposal is 43 dwelling units per acre. This isn’t a master plan, it’s specifically for this site, the conversations about the other properties have been very confusing, which in some respects is on site and some respects off site. Doesn’t understand how reducing the size helps in a use determination, that is now how that is made. Robert Rosen is director of the metro district, agrees with other public comment. No one has spoken to the directors of the metro district. They own the existing ticket office, the applicants don’t have the right to tear it down, it is the board’s property. The proposal interferes with the access to the lift, the metro district has a responsibility to maintain both, doesn’t see how they could agree with that. The height is not acceptable, they don’t have the right to put the escalator or stairs on property that is controlled by the metro district. The PEC or Town Council cant take that away, the district has an obligation. Kim Seter, attorney for cascade metro district prepared a list of issues to be addressed. If you choose to recommend approval, condition #9 the use of those easements affects agreements between metro district and Vail Resorts. There is also a memo from Vail Resorts from August 9th. These two entities combine to operate and control the easement. Jaime Kalb is a Liftside owner, supports comments of other neighbors, concerned about access to lift. This is an ambitious project for a small space. David Flowers says the size of the building is too big for the space. Will create congestion in area that is already congested. If Vail Resorts upgrades lift, this proposal will add more congestion and take away a lot of the views. Rediker closes public comment. He asks for commissioner comment. Rediker brings up loading and delivery, trucks potentially blocking traffic, is that going to be a problem with Cornerstone? Velasco says it will not be a problem with Cornerstone, he’ll look into the comments which is really the operation of the hotel. Rediker asks if the delivery will happen through the existing loading dock. Velasco says for Cornerstone yes. Rediker asks about garbage disposal. Velasco says it will work in inverse to the loading. There are back of the house areas where it would be temporarily stored before being disposed. Rediker asks if dumpsters will be rolled from the paseo level to the CMC building? Velasco says they have not figured out the details of that yet. Planning and Environmental Commission Meeting Minutes of August 26, 2024 8 88 Smith says trash trucks back down the CMC dock. It’s a valid point but it may have also been worse in recent weeks. Rediker asks staff about easement concerns, we have been directed by town attorney that we are not considering those issues in regard to the nine criteria. Roy confirms, that is the direction from the town attorney. There is a condition regarding the approval from the easement holders prior to building permit. Rediker, what about Liftside concern of parking access with the new configuration? Kassmel says the intent is that Liftside would still enter generally how they do today, the drop off would be two -way, that was the intent in 2008. They would not have to go through the skier dropoff or bus traffic. Kassmel and Rediker discuss access to the Liftside parking under the proposal. Velasco says there is a traffic study which suggested there would be no changes to the deceleration lane. Jensen says as presented he can’t support this, surprised that the mass and scale haven’t changed. Don’t see supporting anything taller than what is allowed. Can’t agree to the owners club as presented, not consistent with town code. The EHU in CMC is not the appropriate location for this project. The parking solution does work, if you lower the mass and scale there will be less required parking which is beneficial to the whole community. Smith thanks applicants. This process is not over, you have to go to council. A lot of valid points in public comment, the application fails to meet criteria 1,2,4, and 9. EHU’s housing is the priority and this fails to meet the code, the housing variations requested are too much of an ask. Dorms became a problem because of the spread of infectious disease. Tucker thanks applicants. It’s a tough site, the mass and scale doesn’t meet the criteria. We’ve brought this up every time, and nothing has changed. It’s insane to try and run all the loading through that dock, there’s got to be another solution. The delivery guys will start using the skier drop off. What about drainage? McBride thanks applicants. Concerned about outstanding issues that haven’t changed, you’re trying to extract every last penny from this property and you’re entitled to that but have to do it within the rules. Haven’t seen enough to change my mind, staff has recommended it not be approved, surprised not to see significant changes. Rediker thanks applicant. Staff put together a good memo, raises a lot of good things about the project, not talking about public benefit which Council will evaluate. It’s a benefit to Town to have this site developed, a lot of aspects of this project make it better. There are some things that are still a concern, first is height of the west building, scale, and bulk as well but height is the biggest concern with zero setbacks. The height is not sensitive to the immediate environment, concerned about garbage disposal. Concerning about criteria #3, parking and loading. There is a public benefit to reorganizing that drop off area, escalator would be safer than those existing stairs. Somewhat concerned about criteria #7, traffic and circulation. You’ve identified a lot of benefits, but the size and height of the west building is not compatible, it should step down as you get further west, wish we had seen a change there. Smith discusses criteria that was not met. Robyn Smith made a motion to Deny with the findings on page 21-22 of the staff memo, amended to does not comply with each and every of the necessary four findings; William A Jensen seconded the motion Passed (5 - 0). Planning and Environmental Commission Meeting Minutes of August 26, 2024 9 89 3.3 A request for a recommendation to the Vail Town Council for a major amendment to Special Development District No. 6 (Vail Village Inn), pursuant to Section 12-9A, Special Development Districts, Vail Town Code, to allow for modifications to the approved development plan, and for residential and commercial additions and associated site improvements, located at 68 East Meadow Drive, Lot O, Block 5D, Vail Village Filing 1, and setting forth details in regard thereto. (PEC24-0032) This item has been withdrawn. No action is necessary. Planner: Jamie Leaman-Miller Applicant Name: Village Inn Plaza, represented by Current Architects 4. Approval of Minutes 4.1 PEC Results 8-12-24 PEC Results 8-12-24.pdf (McBride & Tucker abstain) Robyn Smith made a motion to Approve ; William A Jensen seconded the motion Passed (3 - 0). 5. Information Update Rediker brings up sand and oil filters. What are the regulations with regard to maintenance and enforcement. Jensen agrees, says it should be looked at given the amount of money we put into protecting Gore Creek. Roy says they will consult with the Environmental department on potential next steps. 6. Adjournment Robyn Smith made a motion to Adjourn ; David N Tucker seconded the motion Passed (5 - 0). Planning and Environmental Commission Meeting Minutes of August 26, 2024 10 90 AGENDA ITEM NO. 4.1 Item Cover Page DATE:September 3, 2024 SUBMITTED BY:Missy Johnson, Housing ITEM TYPE:Information Update AGENDA SECTION:Information Update (2:35pm) SUBJECT:July 23, 2024 VLHA Meeting Minutes SUGGESTED ACTION: VAIL TOWN COUNCIL AGENDA ITEM REPORT ATTACHMENTS: 2024-07-23_VLHA_Minutes 91 Vail Local Housing Authority Minutes Tuesday, July 23, 2024 3:00 PM Virtually on Zoom ONLY PRESENT ABSENT Steve Lindstrom Christine Santucci Craig Denton Dan Godec Kristin Williams STAFF Jason Dietz, Housing Director Martha Anderson, Senior Housing Coordinator Missy Johnson, Housing Coordinator 1. Call to Order 1. 1 Call to Order The meeting was called to order at 3:05 p.m. with a quorum present. Time: 5 Min. 1.2 Zoom Meeting Time: 60 Min. 2. Citizen Participation 2.1 Citizen Participation Time: 5 Min. No citizens. 3. Approval of Minutes 3.1 VLHA June 25, 2024 Minutes Presenter(s): Missy Johnson, Housing Coordinator Time: 5 Min. 2024-06-25 VLHA Mintues.pdf Kristen Kenny Williams made a motion to Approve as Amended with edits from Williams regarding her statement that involved Habitat for Humanity, with her Habitat hat on. MOTION: Williams SECOND: Denton PASSED: 4-0 3.2 VLHA July 12, 2024 Minutes - Special Session Presenter(s): Missy Johnson, Housing Coordinator Time: 5 Min. 2024-07-12 VLHA Minutes.pdf 92 MOTION: Godec SECOND: Williams PASSED: 3-0-1 4. Main Agenda 4.1 A Resolution Approving the Purchase of a Deed Restriction Interest in Property (Type III Deed Restriction) in the Town of Vail Legally Described as Subdivision: Alpen-Glo Condo Unit: 5, Eagle County, Colorado with a Physical Address of 5115 Black Bear Lane #5, Vail Colorado; and Setting Forth Details in Regard Thereto. Presenter: Missy Johnson, Housing Coordinator 2024-4 VLHA Resolution Purchase of a deed restriction 5115 Black Bear Lane Unit 5.pdf This agenda item was initially tabled but Authority conversation ensued around the topic and eventually there was a motion to approve the resolution with an amended dollar amount up to 20% of purchase price. Housing Staff agreed to revise the resolution for signature. Executive Session is set for 12 p.m. on Wednesday, July 24 for further discussion. Dan Godec made a motion to Approve as Amended. MOTION: Godec SECOND: Williams PASSED: 4-0 4.2 Prepare for the State of Housing Meeting on August 6 with the Vail Town Council Presenter(s): Steve Lindstrom, VLHA Chairman Time: 30 Min. Lindstrom recommends we present at the 2nd Town Council agenda meeting based on current happenings. He suggested the housing staff to work on the numbers in the background but hold off and look for a later Town Council meeting in August. 4.3 Discussion on VLHA Budget Supplemental Needs Presenter(s): Martha Anderson, Senior Housing Coordinator Time: 15 Min. Anderson discussed the need to do a supplemental budget with Finance to cover the current needs and future buffer for Professional Services to provide additional flexibility. Lindstrom confirmed that $208,000 came in from grant funding to cover future projects and future projects. He anticipates that happening in short order at which time we can revisit the subject. Lindstrom agrees Anderson's suggestion to put a place holder into the supplemental budget of $30,000 to be classified to potentially cover pending professional services agreements. Anderson confirmed the items and amounts that are currently allocated. Anderson will confirm with Finance whom will present at the future meeting. Williams moved that we approve the discussed budget on supplemental needs and the group will vote on the revised budget at the next meeting. Denton seconded. This item will be reviewed through finance at a future meeting. MOTION: Williams SECOND: Denton PASSED: 4-0 93 5. Matters from the Chairman and Authority Members 5.1 Matters from the Chairman and Authority Members Presenter(s): Steve Lindstrom, VLHA Chairman Ruther joined with inquiry around the Timber Ridge deed restriction and related compliance. Providing a few examples, Ruther reviewed an example whereas the employment status, paycheck, comes from an out of county company, but all of the services provided occur in Eagle County area. Because these two applicants comply with the intent and the terms of the deed restriction, Ruther turned to the Authority to determine if these situations are still applicable to policy from the Housing Authority. Lindstrom confirmed that we have followed this approval process from the past and also supports that many Vail Resorts employees receives checks from Broomfield, while meeting the terms of the deed restriction. Unanimously, the Authority approved these one-offs as mentioned by Ruther. Godec suggested working with legal to provide a statement in clarification of the above. Lindstrom suggested the Housing Staff work on some policy guidance for the Authority to consider prior to formulizing the statements and legal considerations. Dietz agrees. Housing staff will consider the above based on preparation for future, annual, EHU compliance and bring the Authority discussion points for consideration prior to presenting policy to legal. Lindstrom prefers to define the line between those providing goods and services here locally and vs. the remote workers and Deitz agreed. Ruther provided a quick update regarding Timber Ridge and upcoming agenda items 1) resolution to approve the 2nd amendment to the development agreement; 2) resolution to approve a tri-party agreement and 3) an ordinance allowing the Town of Vail to transfer the title to Triumph Development upon closing of the construction lending. Ruther says we now have agreement from all parties within the tri-party agreement and the development agreement. Ruther provided an overview of the status of purchase and sale agreements and there is about 102 units under contract of the 194 total to sell to bulk buyers, individuals or businesses. There is likely to see a slight price increase in the future. The team is still working to hold the end date schedule, anticipating a 30-day shift in final product completion, even with the recent delays. Ruther exited the meeting. Anderson mentioned the development fund available to the Authority as well as the registration opportunity for Authority members to attend the Housing Colorado Conference in Keystone. Williams expressed her excitement in the recent Vail InDEED interest recently but if we anticipate a cadence to need one- off special meetings, it could be helpful to set calendar inclusions for 15 minutes and then cancel them if they are not needed. Anderson confirmed that it is abnormal to need the one-off meetings as we have executed recently. 6. Adjournment 6.1 Adjournment 5:00 PM (Estimate) Kristen Kenny Williams made a motion to Adjourn Meeting adjourned at 3:51 p.m. MOTION: Williams SECOND: Godec PASSED: 4-0 94 7. Future Agenda Items 7.1 Housing 2027 Land Banking 8. Next Meeting Date 8.1 Next Meeting Date August 13, 2024 Vail Local Housing Authority Meeting Minutes of July 23, 2024 4 95 AGENDA ITEM NO. 4.2 Item Cover Page DATE:September 3, 2024 SUBMITTED BY:Missy Johnson, Housing ITEM TYPE:Information Update AGENDA SECTION:Information Update (2:35pm) SUBJECT:July 24, 2024 VLHA Special Meeting Minutes SUGGESTED ACTION: VAIL TOWN COUNCIL AGENDA ITEM REPORT ATTACHMENTS: 2024-07-24_VLHA_Special_Meeting_Minutes 96 Vail Local Housing Authority Minutes Wednesday, July 24, 2024 12:05 PM Special Session - Zoom Only SPECIAL SESSION PRESENT ABSENT Steve Lindstrom Christine Santucci Dan Godec Kristin Williams Craig Denton STAFF Jason Dietz, Vail Housing Director Martha Anderson, Senior Housing Coordinator Missy Johnson, Housing Coordinator 1. Call to Order 1. 1 Call to Order Presenter(s): Steve Lindstrom The special session was called to order at 12:14 p.m. 1.2 Zoom Meeting Pre-Executive Session 1.3 Zoom Meeting Post-Executive Session 2. Citizen Participation 2.1 Citizen Participation No citizen participation. Motion to leave regular session and enter executive session at 12:15 p.m. MOTION: Denton SECOND: Godec PASSED: 3-0 3. Executive Session 3.1 Executive Session per C.R.S. §24-6-402(4)(a)(e) - to discuss the purchase, acquisition, lease, transfer or sale of real, personal or other property interests and to determine positions relative to matters that may be subject to negotiations regarding: Vail InDEED application and an EHU Exchange. Presenter(s): Martha Anderson, Senior Housing Coordinator and Missy Johnson, Housing Coordinator 4. Any Action as a Result of Executive Session 4.1 Any Action as a Result of Executive Session At 1:08 p.m., the Authority left executive session and re-convened the special session. Motion to direct Housing Staff move forward as discussed regarding discussed topics of the Vail InDEED application. MOTION: Godec SECOND: Denton PASSED: 3-0 97 5. Matters from the Chairman and Authority Members 5.1 Matters from the Chairman and Authority Members Presenter(s): Steve Lindstrom, VLHA Chairman Lindstrom suggested the Authority revisit current and future lending as related to EHUs. 6. Adjournment 6.1 Adjournment The Special Session of the Vail Local Housing Authority adjourned at 1:09 p.m MOTION: Denton SECOND: Godec PASSED: 3-0 7. Future Agenda Items 7.1 Vail Housing 2027 Land Banking 8. Next Meeting Date 8.1 Next Meeting Date August 13, 2024 98 AGENDA ITEM NO. 4.3 Item Cover Page DATE:September 3, 2024 SUBMITTED BY:Missy Johnson, Housing ITEM TYPE:Information Update AGENDA SECTION:Information Update (2:35pm) SUBJECT:August 13, 2024 VLHA Meeting Minutes SUGGESTED ACTION: VAIL TOWN COUNCIL AGENDA ITEM REPORT ATTACHMENTS: 2024-08-13_VLHA_Minutes 99 Vail Local Housing Authority Minutes Tuesday, August 13, 2024 3:00 PM Town Council Chambers PRESENT ABSENT Steve Lindstrom Dan Godec Craig Denton Kristin Williams Christine Santucci STAFF Jason Dietz, Housing Director Martha Anderson, Senior Housing Coordinator Missy Johnson, Housing Coordinator 1. Call to Order 1. 1 Call to Order Meeting called to order at 3:10 p.m. with a quorum present. 1.2 Zoom Meeting 2. Citizen Participation 2.1 Citizen Participation No comments. 3. Approval of Minutes 3.1 VLHA July 23, 2024 Minutes Presenter(s): Missy Johnson, Housing Coordinator Moved to next meeting for approval based on Authority members present. 3.2 VLHA July 24, 2024 Minutes Presenter(s): Missy Johnson, Housing Coordinator Moved to next meeting for approval based on Authority members present. 4. Main Agenda 4.1 Resolution No. 5, Series of 2024, A Resolution Adopting a Budget and Making Appropriations to Pay the Costs, Expenses and Liabilities of the Vail Local Housing Authority, for its Fiscal Year January 1, 2024 through December 31, 2024 Approve, approve with amendments or deny Resolution No. 5, Series of 2024. Presenter(s): Martha Anderson, Senior Housing Coordinator Time: VLHA 2nd Supplemental.pdf VLHAres#5 for 2024 2nd Supplemental.pdf 100 Anderson presented supplemental budget items to the Authority for review and motion to approve. The authority approved a $47,500 to extend a contract with Social Impact Advisors, appropriate funds to engage with Mauriello Planning group and amount to hold for potential future needs. MOTION: Denton SECOND: Santucci PASSED: 3-0 4.2 VLHA Q2 2024 Financial Update Presenter(s): Jake Shipe, Budget Analyst Time: 15 Min. VLHA Q2 2024 Financial Update.pdf Shipe provided and overview of the financial updates for the Authority's income statement, balance sheet and the Town of Vail Housing Funds through the second quarter. Lindstrom reminded the group that the Authority's funds are completely separate from the Town of Vail's housing funds and the total income for a year is typically $60,000 which is typically spent on consultants. The housing funds are not available for the Authority to spend but of interest. The major funding source is the Housing Sales tax plus the $2.5M transfer from the capital projects fund annually to fund housing program. Workforce housing sales, earnings on investments and other miscellaneous revenues are also reflected in this fund. The Authority recommends usage of these funds to the Town Council who ultimately makes the final decisions and sign off for use of funds. These funds are used in a variety of ways including housing buy-downs, investing in properties for Town of Vail employee housing and for seed money to do larger projects. Shipe confirmed that historically, revenues track closely to the forecast of revenues based on the sales tax revenues. $4.2M of $15.5M budgeted dollars of the Housing Fund have been spent on a Pitkin Creek Unit 3B purchase and West Middle Creek development. As part of the packet, Shipe reviewed the use of the Capital Projects Fund for $2M of the $3.2M which was spent on Town of Vail employee housing including Buffehr Creek 3B and Meadow Creek L4. 4.3 Local Planning Capacity Grant Update Presenter(s): Steve Lindstrom, VLHA Chairman, Jason Dietz, Housing Director, Martha Anderson, Senior Housing Coordinator Time: 15 Min. A grant was secured for $ 208,000 through the Department of Local Affairs (DOLA) to be applied through the Town of Vail. We can anticipate an executed contract to come in September or October. They advised the Town not to contract for the usage until it is contracted and presented with the terms and conditions, which will include quarterly reporting. Deitz and Anderson reviewed the next steps, including the public procurement process and procedures for contracts of $50,000 or more. $208,000 is the net that can be spent. The main intention was to help with affordable housing capacity building, reducing the development entitlement process. The largest portion of the funding will be for a housing liaison. The housing team will keep the Authority updated as additional information comes through from DOLA and Lindstrom will reach out to Mauriello Planning Group with an update. 101 4.4 Rural Resort AMI Petition with Colorado Housing and Finance Authority Presenter(s): Steve Lindstrom, VLHA Chairman and Martha Anderson, Senior Housing Coordinator Time: 15 Min. Rural Resort Petition to Waive Income Limits Rev1.3.24 (1).pdf Anderson reported regarding the Rural Resort AMI Petition in follow-up from her attendance to the August 2nd Mountain Resort Stakeholder Outreach and Engagement event. With DOLA present, Anderson learned that the Town of Vail AMI petition was declined. The Town of Vail will need to re-submit with a more updated housing needs assessment report in order to meet the requirements of the grant in order to increase the AMI levels within the Town of Vail. The Town of Vail needs to go back with additional information and housing needs assessment would needed to have been more recent than the special needs assessment that dates back to 2018. $15,000 has been budgeted towards a housing needs assessment but additionally, Deitz is working within a regional group in Eagle County. Anderson and Dietz continued to describe the process and next steps around a future housing needs assessment that will likely be drafted in September 2024 for review by the variety of jurisdictions. Conversation ensured around reasoning for seeking potential future AMI increases within the Town of Vail. 5. Matters from the Chairman and Authority Members 5. 1 Matters from the Chairman and Authority Members Presenter(s): Steve Lindstrom, VLHA Chairman Time: 5 Min. Lindstrom summarized the recent Town of Vail planning commission meeting. Upon review of the first project that has come through with the revised Community Housing Zone District, there are a few things that still need to go to planning commission (PEC), including additional review of the environmental impact. West Middle Creek is nearly fully entitled. Lindstrom believes that Timber Ridge financing was set to close on Friday, Aug. 9th and they will pull back on sales during the key construction phase and purchase prices are planned to increase soon and later supported by a modular sales showroom. Anderson mentioned the Town of Vail Board Appreciation event from 6 - 8 p.m., Tuesday, Aug. 27 at the AMP. The Authority looks to do an appreciation event at 4 p.m., Wednesday, Aug. 28 in thank you to previous Authority member James Wilkins. 6. Adjournment 6.1 Adjournment 5:00 PM (Estimate) Meeting adjourned at 3:55 p.m. MOTION: Santucci SECOND: Denton PASSED: 3-0 102 7. Future Agenda Items 7.1 VLHA Legal Structure, Powers and Responsibilities Financial Policies and Best Practices 8. Next Meeting Date 8.1 Next Meeting Date August 27, 2024 103 AGENDA ITEM NO. 4.4 Item Cover Page DATE:September 3, 2024 SUBMITTED BY:Jake Shipe ITEM TYPE:Information Update AGENDA SECTION:Information Update (2:35pm) SUBJECT:August 2024 Revenue Update SUGGESTED ACTION: VAIL TOWN COUNCIL AGENDA ITEM REPORT ATTACHMENTS: August 2024 Revenue Update 104 1 TOWN OF VAIL REVENUE UPDATE September 3, 2024 4.0% General Sales Tax Upon receipt of all sales tax returns, July 2024 collections are estimated to be $3,475,499, up 1.9% from 2023 and up 2.3% from the budget. 2024 YTD collections of $26,996,664 are down (0.3)% from 2023 and up 0.8% from the budget. Inflation as measured by the consumer price index was up 2.9% for the 12-months ending July 2024. The annual budget totals $40.85 million. 0.5% Housing Fund Sales Tax Upon receipt of all sales tax returns, July 2024 collections of the 0.5% housing sales tax are estimated to be $418,216 up 1.3% from 2023 and up 1.6% from the budget. 2024 YTD collections of $3,275,333 are down (0.4)% from 2023 and up 1.0% from the budget. The 2024 budget for the housing fund sales tax totals $4.95 million. Real Estate Transfer Tax (RETT) RETT collections through August 27 total $5,390,599, up 7.2% from 2023. The number of residential property sales is tracking up 7.3% from 2023. Construction Use Tax Use Tax collections through August 27 total $1,971,285 compared to $1,869,494 in 2023. The 2024 budget totals $2,040,000. Lift Tax Year to date lift tax collections through July 31 total $5,195,134, up 7.0% or $340,061 from 2023. The 2024 budget totals $6,675,000. The 2023/2024 season Epic Pass and Epic Pass Local both were priced with an 8% increase compared to the prior season. Summary Across all funds, year-to-date total revenue of $66.0 million is up 7.5% from the amended budget and up 6.0% from prior year. The majority of the positive variance compared to the amended budget is due to higher-than-expected real estate transfer tax collections and interest earnings. The majority of the positive variance compared to the prior year is due to increased real estate transfer tax collections, property tax collections, and ski lift tax collections. 105 2024 Budget % change % change 2019 2020 2021 Budget Variance from 2023 from Budget January 4,079,994$ 4,076,145$ 3,422,209$ 5,217,125$ 5,911,572$ 5,787,370$ 5,791,011$ 3,641$ -2.04%0.06% February 4,137,087 4,285,633 3,691,850 5,686,585 6,041,108 5,914,315 6,065,694 151,379 0.41%2.56% March 4,237,933 2,243,518 4,364,797 5,912,059 6,055,992 6,035,677 6,365,031 329,354 5.10%5.46% April 1,445,071 427,518 1,751,528 2,234,296 2,264,892 2,258,798 1,820,816 (437,982) -19.61%-19.39% May 763,756 503,828 1,061,516 1,227,974 1,118,011 1,111,919 1,159,528 47,609 3.71%4.28% June 1,606,748 1,023,517 2,149,312 2,317,931 2,272,457 2,265,104 2,319,083 53,979 2.05%2.38% July 2,480,292 2,084,644 3,491,668 3,507,973 3,412,277 3,399,024 3,475,499 76,475 1.85%2.25% Total 18,750,881$ 14,644,803$ 19,932,880$ 26,103,943$ 27,076,309$ 26,772,207$ 26,996,664$ 224,457$ -0.29%0.84% August 2,237,050 2,138,838 2,877,550 2,997,389 2,932,111 2,920,600 - September 1,600,100 1,767,393 2,359,528 2,441,331 2,508,064 2,495,143 - October 1,165,176 1,371,727 1,734,964 1,729,558 1,773,358 1,652,467 - November 1,260,314 1,425,461 1,880,397 1,902,643 1,901,141 1,779,167 - December 4,237,178 3,625,189 5,749,365 5,602,018 5,691,428 5,230,416 - Total 29,250,698$ 24,973,411$ 34,534,683$ 40,776,882$ 41,882,411$ 40,850,000$ 26,996,664$ 224,457$ -0.29%0.84% 2022 2023 2024 Budget % change % change Collections Collections Budget Variance from 2023 from Budget January 645,487$ 720,906$ 700,920$ 703,394$ 2,474$ -2.43%0.35% February 702,730 736,788 716,760 739,823 23,063 0.41%3.22% March 719,717 738,244 731,610 777,186 45,576 5.27%6.23% April 269,018 271,930 273,735 219,273 (54,462) -19.36%-19.90% May 146,657 132,333 134,640 137,656 3,016 4.02%2.24% June 280,460 275,113 274,230 279,784 5,554 1.70%2.03% July 424,602 412,849 411,840 418,216 6,376 1.30%1.55% Total 3,188,671$ 3,288,163$ 3,243,735$ 3,275,333$ 31,598$ -0.39%0.97% August 361,165 352,887 353,925 - September 294,861 304,068 302,445 - October 207,397 213,568 200,475 - November 230,383 229,092 215,820 - December 671,982 687,985 633,600 - Total 4,954,459$ 5,075,763$ 4,950,000$ 3,275,333$ 31,598$ -0.39%0.97% Town of Vail Revenue Update September 3, 2024 4.0% GENERAL SALES TAX2024 Budget Comparison 0.5% Collected Sales Tax 0.5% HOUSING SALES TAX 2024 Budget Comparison Actual 4.0% Collections 4.0% Collected Sales Tax20222023 106 Town of Vail Revenue Update YTD 4% General Sales Tax Collections By Year September 3, 2024 Through July 31 July 4% General Sales Tax Collections By Year Through July 31 •July collections of $3,475,499 are up 1.9% from prior year and are up 2.3% from the budget. $2,084,644 $3,491,668 $3,507,973 $3,412,277 $3,475,499 $0 $500,000 $1,000,000 $1,500,000 $2,000,000 $2,500,000 $3,000,000 $3,500,000 $4,000,000 2020 2021 2022 2023 2024 $14,644,803 $19,932,880 $26,103,943 $27,076,309 $26,996,664 $0 $5,000,000 $10,000,000 $15,000,000 $20,000,000 $25,000,000 $30,000,000 2020 2021 2022 2023 2024 •YTD collections of $26,996,664 are down (0.3)% from prior year and are up 0.8% from the budget. •Inflation as measured by the consumer price index was up 2.9% in July. 107 Town of Vail Revenue Update September 3, 2024 July 0.5% Housing Fund Sales Tax Collections By Year Real Estate Transfer Tax by Year YTD Through August 2024 July Collections YTD Collections •This chart shows YTD collections of 1% RETT, segmented by real property values. 2024 collections are up 7.2% from the prior year. $4,835,382 $7,281,036 $7,242,563 $5,026,820 $5,390,599 $0 $1,000,000 $2,000,000 $3,000,000 $4,000,000 $5,000,000 $6,000,000 $7,000,000 $8,000,000 2020 2021 2022 2023 2024 Sales Less Than $2.5 Million Sales $2.5 to $5 Million Sales $5 to $10 Million Sales Over $10 Million •July collections of $418,216 are up 1.3% from prior year and are up 1.6% from the budget. YTD collections of $3,275,333 are down (0.4)% from this time last year and are up 1.0% from the budget. $424,602 $412,849 $418,216 $0 $50,000 $100,000 $150,000 $200,000 $250,000 $300,000 $350,000 $400,000 $450,000 2022 2023 2024 $3,188,671 $3,288,163 $3,275,333 $0 $500,000 $1,000,000 $1,500,000 $2,000,000 $2,500,000 $3,000,000 $3,500,000 2022 2023 2024 108 Town of Vail Revenue Update September 3, 2024 Construction Use Tax by Year YTD Through August 2024 YTD Lift Tax Collections YTD Through July 2024 •Use Tax collections through August 27 total $1,971,285, compared to $1,869,494 from this time last year. This is an increase of 5.4%. $1,078,585 $3,008,591 $1,534,136 $1,869,494 $1,971,285 $0 $500,000 $1,000,000 $1,500,000 $2,000,000 $2,500,000 $3,000,000 $3,500,000 2020 2021 2022 2023 2024 •2024 YTD lift tax collections of $5,195,134 are up 7.0% or $340,061 from the same time last year. $2,969,671 $4,152,983 $4,967,510 $4,855,074 $5,195,134 $0 $1,000,000 $2,000,000 $3,000,000 $4,000,000 $5,000,000 2020 2021 2022 2023 2024 109 Vail Business Review July 2024 September 3, 2024 The Vail Business Review breaks down the 4.5% sales tax collected for the month of July. The 4.5% sales tax includes the town’s general 4% sales tax and the 0.5% housing sales tax supported by Town of Vail voters during the November 2021 election, effective January 1, 2022. The housing sales tax sunsets on December 31, 2051. July 4.5% sales tax was up 1.7% from the prior year. Retail decreased (3.4)%, lodging increased 1.5%, food and beverage increased 6.2%, and utilities/other increased 16.6%. Excluding the out-of-town category, sales tax for the month of July was up 2.9% compared to prior year. Town of Vail sales tax forms, the Vail Business Review, and sales tax worksheets are available on the internet at vail.gov. You may email me to request to have the Vail Business Review and the sales tax worksheet emailed to you automatically. Please remember when reading the Vail Business Review that it is produced from sales tax collections as opposed to actual gross sales. If you have any questions or comments, please feel free to call me at (970) 479-2125 or Carlie Smith, Finance Director, at (970) 479-2119. Sincerely, Lauren Noll Sales Tax Administrator 110 Town of Vail Business Review July Sales Tax Collections by Year July 2024 Sales Tax July 2023 Sales Tax Collections by Business Type July 2024 Retail 1,325,587 Lodging 1,255,821 Food & Beverage 1,099,028 Utilities & Other 212,562 $0 $200,000 $400,000 $600,000 $800,000 $1,000,000 $1,200,000 $1,400,000 U$0$100,000$200,000$300,000$400,000$500,000$600,000$700,000 2,081,068 3,490,380 3,933,256 3,827,844 3,892,999 $0 $500,000 $1,000,000 $1,500,000 $2,000,000 $2,500,000 $3,000,000 $3,500,000 $4,000,000 2020 2021 2022 2023 2024 General Sales Tax Housing Sales Tax • July 2024 retail sales decreased (3.4)%, lodging increased 1.5%, food and beverage increased 6.2%, and utilities and other increased 16.6%. • The figures above reflect 4.5% sales tax. Retail 1,372,689 Lodging 1,237,827 Food & Beverage 1,035,034 Utilities & Other 182,294 $0 $200,000 $400,000 $600,000 $800,000 $1,000,000 $1,200,000 $1,400,000 (3.4)% • This report represents collections of Town of Vail sales tax, as opposed to actual gross sales. • On January 1st, 2022, Town of Vail sales tax increased from 4.0% to 4.5% on all items except food for home consumption. 2022, 2023, and 2024 above include the 0.5% increase to sales tax, depicted in light blue. Prior years show 4.0% sales tax collections. • Total July 2023 collections were $3,827,844; July 2024 collections were $3,892,999 up 1.7% from the prior year. 1.5%6.2%16.6% 111 Town of Vail Business Review July 2023July 2024 Geographic Area Trends by Year July Sales Tax Sales Tax by Location July 2024 Sales Tax Other Areas 15% Lionshead 14% Out of Town 23% Vail Village 48% • Vail Village sales tax decreased (1.4)%, Lionshead increased 12.5%, Other Areas increased 8.0%, and Out of Town decreased (2.4)%. Excluding Out of Town collections, all areas were up 2.9%. • The figures above reflect 4.5% sales tax. 344,935 540,765 303,584 480,700 322,399 821,272 1,110,151 1,647,643 $0 $200,000 $400,000 $600,000 $800,000 $1,000,000 $1,200,000 $1,400,000 $1,600,000 $1,800,000 2020 2021 2022 2023 2024 Vail Village Out of Town Lionshead Other Areas 1,857,617966,502525,809 583,328 • This chart shows July sales tax collections by geographic area over time. • 2022, 2023, and 2024 include the 0.5% increase for housing sales tax, depicted in lighter shades. General 4.0% sales tax collections are shown in darker shades. 579,149 521,539 880,799 1,846,357 1,820,742 586,899 859,849 625,509 Other Areas 16% Lionshead 15% Out of Town 22% Vail Village 47% 112 Retail Business 4.5% Sales Tax Detail July 2024 Sales Tax Town of Vail Business Review Accommodation Services Sales Tax by Year Apparel $345,847 Grocery $251,888 Gallery $13,253 Gifts $8,594Jewelry $56,106 Retail Liquor $59,179 Retail Other $325,557 Sporting Goods $145,565 Online Retailers $119,597 Retail Home Occupation $0 • July 2024 accommodations services increased 1.5% from the prior year. Short-term rentals decreased (0.6)% and hotels and lodges increased 2.3%. • The figures above reflect 4.5% sales tax. • Short-term rental sales tax collection numbers include online marketplace facilitators like Airbnb and VRBO. Revenue collections from facilitators may include some hotels and lodges. 895,719 371,695 870,137 367,690 890,469 365,351 $0 $100,000 $200,000 $300,000 $400,000 $500,000 $600,000 $700,000 $800,000 $900,000 Hotel and Lodges Short-Term Rentals 2024 2023 2022 113 Cascade Village / East Vail / Sandstone / West Vail Retail 269,031 249,802 7.70% Lodging 198,723 200,806 ‐1.04% F & B 151,353 113,281 33.61% Other 6,403 15,259 ‐58.04% Total 625,509 579,149 8.00% Lionshead Retail 95,636 103,561 ‐7.65% Lodging 234,909 224,092 4.83% F & B 220,389 187,730 17.40% Other 35,964 6,156 484.20% Total 586,899 521,539 12.53% Out of Town Retail 370,838 390,881 ‐5.13% Lodging 338,111 340,903 ‐0.82% F & B 1,560 2,260 ‐30.97% Other 149,339 146,756 1.76% Total 859,849 880,799 ‐2.38% Vail Village Retail 590,082 628,445 ‐6.10% Lodging 484,077 472,026 2.55% F & B 725,726 731,763 ‐0.82% Other 20,856 14,123 47.68% Total 1,820,742 1,846,357 ‐1.39% Total ‐ All Areas Retail 1,325,587 1,372,689 ‐3.43% Lodging 1,255,821 1,237,827 1.45% F & B 1,099,028 1,035,034 6.18% Other 212,562 182,294 16.60% Total 3,892,999 3,827,844 1.70% Retail Summary Retail Apparel 345,847 347,995 ‐0.62% Retail Food 251,888 233,846 7.72% Retail Gallery 13,253 31,799 ‐58.32% Retail Gift 8,594 8,968 ‐4.17% Retail Home Occupation ‐ 112 ‐100.00% Retail Jewelry 56,106 78,674 ‐28.69% Retail Liquor 59,179 63,117 ‐6.24% Retail Other 325,557 365,670 ‐10.97% Retail Sport 145,565 154,377 ‐5.71% Retail Online Retailer 119,597 88,131 35.70% Total 1,325,587 1,372,689 ‐3.43% Town of Vail Business Review July 4.5% Sales Tax 2024 Collections 2023 Collections YoY % Change 114 AGENDA ITEM NO. 4.5 Item Cover Page DATE:September 3, 2024 SUBMITTED BY:Alex Jakubiec, Finance ITEM TYPE:Information Update AGENDA SECTION:Information Update (2:35pm) SUBJECT:2024 2nd Quarter Investments Report SUGGESTED ACTION: VAIL TOWN COUNCIL AGENDA ITEM REPORT ATTACHMENTS: 240630__Investments 115 TO: Russell Forrest Carlie Smith Council Members FROM: Alex Jakubiec DATE: 2nd Qtr 2024 RE: Investment Report Enclosed is the investment report with balances as of June 30, 2024 The estimated average yield for the pooled cash fund is 4.3%. As of 6/30/2024 the Treasury yield curves for 3 months, 6 months, and 1 year are 5.48%, 5.33%, and 5.09% respectively. Our investment mix follows the policy objectives of safety, liquidity, and yield in that order. Please call me if you have any questions. TOWN OF VAIL MEMORANDUM Following aggressive changes in the Federal Funds rates throughout 2022 and early 2023, the federal funds rate has remained stable in the target range of 5.25%- 5.5%. Treasury yields remained stable through the second quarter, including historically high yields on the front end of the yield curve. The Federal Reserve's policy has remained focused on reducing inflation but they have indicated rate cuts may begin before the end of the year. The Town made no change to it's investment mix during the 2nd quarter and is purposely keeping a higher cash balance due to upcoming large capital expenditures. Gov't Securities $36.3 21% CD's $20.3 12% Colorado Investment Pool $80.0 47% Cash $34.2 20% 2024 2nd Qtr Investment Mix $170.7 M 116 2024 Balances Percentage Percentage Cash of Total Allowed Commercial Banks $31,942,796 18.71% 50% Money Market Funds $2,248,127 1.32% 100% Total Cash $34,190,923 20.03% U.S. Government Securities Government Agency Securities -First Western $10,235,586 6.00% FNMA'S, GNMA'S, FHLMC'S & SBA'S - Dana $26,019,825 15.24% 100% Total Government Securities $36,255,411 21.24% Certificates of Deposit $20,316,517 11.90% Colorado Investment Pools $79,968,247 46.84%100% Total Portfolio $170,731,097 100.0% Maturing Within 12 Months 141,165,413 82.68% Maturing Within 24 Months 9,748,739 5.71% Maturing After 24 Months 19,816,945 11.61% 170,731,097 100.0% Town of Vail, Colorado Summary of Accounts and Investments As of 6/30/2024 Investment Report 117 Institution Average Balances Type of Accounts Return 06/30/24 "CASH" ACCOUNTS Commercial Bank Accounts: First Bank of Vail - Operating Accounts 4.500% 31,942,796$ Money Market Accounts: Schwab Institutional Money Market Fund - Dana Investments 1.180% 1,769,693$ Piper Sandler Money Market Fund 4.940% 217,426$ First Western Fidelity IMM Gov Class 4.990% 261,008$ Total Money Market Funds 2,248,127$ Total "Cash" Accounts $34,190,923 GOVERNMENT SECURITIES FNMA'S, FHLMC'S & NGO'S -First Western 3.09% 10,235,586$ FNMA'S, GNMA'S, FHLMC'S & SBA'S - Dana 2.19% 26,019,825$ 36,255,411$ Total Government Securities 36,255,411$ 1st Bank, Vail Colorado (#0571) Matures March 11, 2025 4.000% 10,617,530$ 1st Bank, Vail Colorado (#0563) Matures March 8, 2025 4.000% 1,225,781$ 1st Bank, Vail Colorado (#0555) Matures March 8, 2025 4.000% 1,683,872$ 1st Bank, Vail Colorado (#0547) Matures March 8, 2025 4.000% 1,202,359$ 1st Bank, Vail Colorado (#0539) Matures March 8, 2025 4.000% 1,200,599$ 1st Bank, Vail Colorado (#0520) Matures March 8, 2025 4.000% 1,202,088$ 1st Bank, Vail Colorado (#0519) Matures March 8, 2025 4.000% 1,250,442$ Piper Sandler 560390BW5 Matures August ,17 2027 4.500% 197,686$ Piper Sandler 32022RVJ3 Matures January 30, 2026 4.760% 194,259$ Piper Sandler 724468AH6 Matures July 31, 2026 4.760% 199,446$ Piper Sandler 88423MAA3 Matures July 31, 2026 4.760% 206,485$ Piper Sandler 062119CC4 Matures July 28, 2027 4.670% 198,794$ Piper Sandler 173576AJ8 Matures October 25, 2024 4.450% 147,532$ Piper Sandler 40449HAD9 Matures October 27, 2025 4.480% 146,723$ Piper Sandler 39573LDW5 Matures Oct 28,2025 4.770% 243,951$ Piper Sandler 917352AD8 Matures Oct 28, 2025 4.720% 248,743$ Piper Sandler 33715LFM7 Matures December 30, 2025 5.140% 150,228$ 20,316,517$ Total Certificates of Deposit 20,316,517$ LOCAL GOVERNMENT INVESTMENT POOLS Colotrust General Fund Interest 5.249% $79,968,247 Total Local Government Investment Pools Accounts $79,968,247 Total All Accounts $170,731,097 Performance Summary As of 6/30/2024 118 AGENDA ITEM NO. 5.1 Item Cover Page DATE:September 3, 2024 SUBMITTED BY:Stephanie Bibbens, Town Manager ITEM TYPE:Matters from Mayor, Council, Town Manager and Committee Reports AGENDA SECTION:Matters from Mayor, Council, Town Manager and Committee Reports (2:35pm) SUBJECT:Matters from Mayor, Town Council and Committees (15 min.) SUGGESTED ACTION: VAIL TOWN COUNCIL AGENDA ITEM REPORT ATTACHMENTS: 119 AGENDA ITEM NO. 5.2 Item Cover Page DATE:September 3, 2024 SUBMITTED BY:Stephanie Bibbens, Town Manager ITEM TYPE:Matters from Mayor, Council, Town Manager and Committee Reports AGENDA SECTION:Matters from Mayor, Council, Town Manager and Committee Reports (2:35pm) SUBJECT:Town Manager Report (5 min.) SUGGESTED ACTION: VAIL TOWN COUNCIL AGENDA ITEM REPORT ATTACHMENTS: 120 AGENDA ITEM NO. 5.3 Item Cover Page DATE:September 3, 2024 SUBMITTED BY:Stephanie Bibbens, Town Manager ITEM TYPE:Matters from Mayor, Council, Town Manager and Committee Reports AGENDA SECTION:Matters from Mayor, Council, Town Manager and Committee Reports (2:35pm) SUBJECT:Council Matters and Status Update SUGGESTED ACTION: VAIL TOWN COUNCIL AGENDA ITEM REPORT ATTACHMENTS: 240903 Matters 121 COUNCIL MATTERS Status Report Report for September 3,2024 Town Council directed staff to bring back an earlier presentation on Short Term Rental fees for discussion and other considerations. Staff will return to Town Council in October regarding that topic. Town Council applauded the Kid’s Adventure Games and concerts at the Gerald R. Ford Amphitheater! Social Media Listening Since last meeting's updates didn't include a Social Media Listening link this report covers 7/31-8/30: https://share.sproutsocial.com/view/2c2230f9-cbf8-4736-a230- f9cbf8a73616 Volume of posts compared to the previous month was down 7%, which isn't surprising given that the previous reporting period included 4th of July. Social media is a great way to take a peek at the wide variety of individual experiences happening in Vail and can be a fun way to see our town being enjoyed through so many different lenses. Here is just a sampling: A band that played Hot Summer Nights A ballet dancer posting professional shots for Vail Dance A grandparent sharing a pic of their grandson enjoying Bighorn Park Some wonderful West Vail-ers making space for the next generation of Vail locals Also ICYMI Vail Police's post highlighting new cars and new officers really took off with lots of positive engagement. In the News______________________________________________________ Aug. 16 Town of Vail draws winner for opportunity to purchase home in Chamonix Vail https://www.vaildaily.com/news/town-of-vail-draws-winner-for-opportunity-to-purchase- home-in-chamonix-vail/ 122 Town of Vail gets a small win in bighorn sheep case, but larger appeal is still ongoing https://www.vaildaily.com/news/town-of-vail-gets-a-small-win-in-bighorn-sheep-case- but-larger-appeal-is-still-ongoing/ Aug. 19 Town of Vail to consider installing a standing wave on Gore Creek https://www.vaildaily.com/news/town-of-vail-to-consider-installing-a-standing-wave-on- gore-creek/ Aug. 22 Colorado’s latest geothermal report and regulations dig into the resource’s potential across the state https://www.vaildaily.com/news/colorado-geothermal-report-resources/ Aug. 23 Romer: Timber Ridge is a model for future housing https://www.vaildaily.com/opinion/romer-timber-ridge-is-a-model-for-future-housing/ How a new Ford Amphitheater not in Vail and ticket sites are creating confusion for concertgoers https://www.vaildaily.com/news/ticket-confusion-ford-amphitheater-vail/ Aug. 28 Michelin-recommended Italian restaurant is opening its next Colorado location in Vail https://www.vaildaily.com/news/michelin-recommended-italian-restaurant-is-opening-its- next-colorado-location-in-vail/ https://www.westword.com/restaurants/michelin-recommended-tavernetta-opening-vail- location-21773103 https://www.denverpost.com/2024/08/27/tavernetta-opening-vail-bobby-stuckey/ https://www.travelandtourworld.com/news/article/four-seasons-resort-vail-partners-with- frasca-for-tavernetta-vails-grand-opening-in-winter-2024/ https://kdvr.com/denver-guide/food-drink/michelin-award-winning-restaurant-to-open- location-in-nearby-ski-town/ New wave movement: Vail studying surf features while Eagle looks to improve its whitewater park https://www.vaildaily.com/news/vail-eagle-standing-wave-whitewater-surfing/ Aug. 29 Letter: The destruction of Colorado's fragile rivers https://www.vaildaily.com/opinion/letter-the-destruction-of-colorados-fragile-rivers/ Aug. 30 Labor Day Weekend in the Vail Valley is jam-packed with Oktoberfest, jazz music, and a chance to win $5,000 https://www.vaildaily.com/entertainment/labor-day-weekend-vail-valley-oktoberfest-jazz- music/ 123 Upcoming Dates September 10 Vail Social ! 124