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HomeMy WebLinkAbout2024-11-12 VLHA Agenda (2) 2 3 Vail Local Housing Authority Minutes Tuesday, November 12, 2024 3:00 PM Vail Town Council Chambers and virtually by Zoom. PRESENT Steve Lindstrom Kristin Kenny Williams Dan Godec Craig Denton Christine Santucci STAFF Jason Dietz, Housing Director Missy Johnson, Housing Coordinator 1. Call to Order (5 min.) Called to order at 3:03 p.m. with all members present. 2. Citizen Participation (5 min.) No comments. 3. Approval of Minutes (5 min.) 3.1. Approval of Minutes from October 22, 2024 2024-10-22 VLHA Minutes.pdf MOTION: Williams SECOND: Godec PASSED: 5-0 4. Main Agenda (15 Min.) 4.1 VLHA EHU Exchange Review (15 Min.) Presenter(s): Jason Dietz, Housing Director and George Ruther, Principal, Ruther Associates LLC 11.12.2024 VLHA EHU exhange review.pdf Dietz turned it over to Ruther to present the memo representing an EHU Exchange Proposal for the Berkowitz family, current owners of 315 Mill Creek Circle. Ruther is representing the owners as his clients, whom are selling the home which currently has a Type I deed restriction, as referenced in the packet. The recommendation is detailed in the memo which highlights town code and this particular underperforming deed restriction, meaning, it does not require that it is rented, but if it is rented, it shall be rented to a qualified tenant. Ruther recommends the approval of this fee in lieu proposal, which not only furthers the goals and policies of the Town of Vail, the Strategic Plan and aligns with the Town of Vail 2027 Plan. This would be a conditional release, which would allow for the release administratively, when and if the new property owner submits and application and receives an approval for the issuance of a building permit within 24 months of the effective date of a resolution authorizing this release. It would allow the home to come back into the town at the max allowable site coverage. Town staff recommends that the authority make an approval recommendation to Town Council for the request to reviewed on November 19th. The funding would go to the Town of Vail housing fund at closing of the sale of the home. Denton abstained from the vote. MOTION: Santucci SECOND: Williams PASSED: 4-1-0 4 5. Matters from the Chairman and Authority Members (5 min.) Johnson updated the group on the status and next steps for the Authority website and email addresses. Once the Authority website is complete, additional edits will be made to the housing pages to eliminate redundancy and create more clarity. Williams participated in the recent winter kick-off meeting through the VCBA and a big push remains to reach small business owners for possible Timber Ridge ownership. Dietz updated the group regarding the LPC Grant. After meeting with Dola, we are on a good path forward to contract with MPG. Conversation ensued around status of future community housing projects like CDOT parcel and West Middle Creek. Currently, Town of Vail is not involved in the State Land Board discussions around the Dowd Junction land. 5. Executive Session (15 min.) Executive session was cancelled because there was no need for negotiations or discussions. 6. Adjournment 3:35 pm (estimate) Meeting adjourned at 3:31 p.m. 5 6 2025 PROPOSED BUDGET SUMMARY OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE VAIL LOCAL HOUSING AUTHORITY 2025 20242024 Amended2024Proposed BudgetBudgetForecastBudget Revenue Middle Creek Revenue Share / Mgmt Fee$ 16,700$ 16,700$ 21,547$ 18,080 Interest Income 7,866 7,866 16,192 6,750 Ground Lease Revenue 35,000 35,000 35,000 - Total Revenue 59,566 59,566 72,739 24,830 Expenditures Accounting Fees 2,500 2,500 2,500 2,500 Operating, Maintenance & Contracts 72,370 159,870 159,870 79,680 Total Expenditures 74,870 162,370 162,370 82,180 Revenue Over (Under) Expenditures (15,304) (102,804) (89,631) (57,350) Beginning Fund Balance 393,304 393,304 393,304 303,673 Ending Fund Balance $ 378,000$ 290,500$ 303,673$ 246,323 7