HomeMy WebLinkAbout2024-11-12 VLHA Agenda (2)
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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
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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.
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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
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