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HomeMy WebLinkAbout2024-11-12 VLHA Agenda 2 3 Vail Local Housing Authority Minutes Tuesday, October 22, 2024 3:00 PM Vail Town Council Chambers and virtually by Zoom. Zoom meeting link: https://vail.zoom.us/j/84943842844 PRESENT ABSENT Steve Lindstrom Craig Denton Dan Godec via zoom Kristin Williams Christine Santucci via zoom STAFF Jason Dietz, Housing Director Martha Anderson, Senior Housing Coordinator Missy Johnson, Housing Coordinator 1. Call to Order (5 min.) Meeting called to order at 3:02 p.m. 2. Citizen Participation No comments. 3. Approval of Minutes (5 min.) 3.1 Approval of Minutes from October 8, 2024 2024-10-08 VLHA Minutes.pdf MOTION: Williams SECOND: Godec PASSED: 4-0 4. Main Agenda 4.1 VLHA Q3 2024 Financial Update Presenter(s): Jake Shipe, Budget Analyst VLHA Q3 2024 Financial Update.pdf Jake Shipe from Finance presented the Balance Sheet and Income Statement through 9/30/2024 as provided in the presentation. Through the third quarter, the VLHA has collected $59,800 in revenue. The budgeted ending balance is $290,500. Shipe confirmed the items associated with the professional fees as budged for deed restriction performance tracking, inclusionary zoning and commercial linkage study, development review process improvements, legal fees and website updates for VLHA, and grant writing assistance. As of Sept. 30, the Authority has total $387,200 and no liabilities. Godec asked how the Authority accrued $11,000 interested based on the Authority assets. Shipe explained the two accounts and does not have the most up to date interest amount from each account. As of Sept. 30, the Town of Vail Housing Fund has collected $7.6M in revenue and capital expenditures have totaled $5.5M. Regarding the Town capital projects fund has $3.4M has been spent for Town employee housing purchases. 4 5. Matters from the Chairman and Authority Members (5 min.) Williams provided an update regarding the VLHA website and email addresses. She looks to the housing staff and town communications to establish a deliverables list for the design of the Vail Local Housing Authority web page. The emails will include .net. Dietz provided a brief update regarding Timber Ridge Village. Williams stated that there is a lot of interest for the multi-family housing through for Habitat for Humanity collaboration for the Timber Ridge availability. Anderson updated the group regarding the current Town of Vail Community Housing Lottery for two homes. 6. Executive Session (15 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 topic of: Vail InDEED Application. This item was cancelled as of Monday, Oct. 21. 7. Adjournment 3:50 pm (estimate) Meeting adjourned at 3:19 p.m. 5 6 75 South Frontage Road West Housing Department Vail, Colorado 81657 970.479.2150 vailgov.com MEMORANDUM To: Vail Local Housing Authority From: Jason Dietz, Housing Director Date: November 12, 2024 Re: EHU Exchange Proposal – 315 Mill Creek Circle I. Background The Berkowitz Family is the owner of the residential property located at 315 Mill Creek Circle. The owner’s property is currently encumbered by a Type I EHU deed-restriction (recorded on November 15, 1993). Pursuant to the provisions of Section 12-13-5 of the Vail Town Code, the owner is requesting approval to exchange the existing deed-restricted on the property for a fee in lieu payment. II. Purpose The purpose of this memorandum is to present a proposal to release an existing Type I deed restriction on the residential property located at 315 Mill Creek Circle in exchange for a fee in lieu payment. Please see the November 12, 2024, memorandum from Ruther Associates LLC outlining the EHU Exchange Proposal and request for Recommendation, Exhibit A. III. Recommendation Staff is in support of the EHU Exchange Request as outlined within Exhibit A and welcomes additional VLHA comments and feedback. 7 EXHIBIT A VLHA EHU Exchange Application Town of Vail 8 9 : 21 22 23