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Home My WebLink About2025-03-18 Agenda and Supporting Documentation Town Council Evening Meeting1.Call to Order (6:00pm) 2.Public Participation (6:00pm) 2.1 Public Participation (10 min.) 3.Any action as a result of Executive Session (6:10pm) 4.Appointments for Boards & Commissions (6:10pm) 4.1 Art In Public Places (AIPP) Appointments Motion to appoint two members to service on the AIPP Board for a two-year term, ending March 31, 2027. 4.2 Design Review Board (DRB) Appointments Motion to approve two members to service on the DRB for a two-year term, ending March 31, 2027. 5.Consent Agenda (6:15pm) 5.1 Resolution No. 11, Series of 2025, A Resolution Approving an Intergovernmental Agreement for a Regional Planning Commission for Transportation Planning Approve, approve with amendments, or deny Resolution No. 11, Series of 2025. Background: In order to be a member of the Intermountain Transportation Planning Region, the Town is require to adopt the Regional Planning Commission Bylaws, which generally identify the purpose, membership, representation, meeting, and voting requirements. VAIL TOWN COUNCIL MEETING Evening Session Agenda Vail Town Council Chambers and virtually by Zoom. Zoom meeting link: https://vail.zoom.us/webinar/register/WN_3E_eot-rR3GUJh_xMmM5qw 6:00 PM, March 18, 2025 Notes: Times of items are approximate, subject to change, and cannot be relied upon to determine what time Council will consider an item. Public comment will be taken on each agenda item. Public participation offers an opportunity for attendees to express opinions or ask questions regarding town services, policies or other matters of community concern that are not on the agenda. Please keep comments to three minutes; time limits established are to provide efficiency in the conduct of the meeting and to allow equal opportunity for everyone wishing to speak. Public Participation Council Memo - Regional Planning Commission for Transportation 1 5.2 Resolution No. 12, Series of 2025, A Resolution Adopting a Multi-Jurisdictional Hazard Mitigation Plan Approve, approve with amendments, or deny Resolution No. 12, Series of 2025. Background: The Eagle County Hazard Mitigation Plan outlines key goals and objectives aimed at reducing the impact of natural and human-caused hazards, minimizing economic losses, and effectively implementing mitigation actions. 5.3 Lease Agreement with Greater Eagle Fire Protection District for Ladder Truck Usage Authorize the Town Manager to enter into an agreement, in a form approved by the Town Attorney, with Greater Eagle Fire Protection District for 2001 Pierce ladder truck lease. Background: In 2024, Vail Fire and Emergency Services procured a new ladder truck, replacing the 2001 Pierce. The Greater Eagle Fire Protection district has unresolvable mechanical issues with their current ladder truck. This request is to allow the Greater Eagle Fire Protection District use of the 2001 Pierce until their new apparatus is delivered to prevent long response times in Eagle County. 5.4 Contract Award with Superlative for Naming and Sponsorship Rights Authorize the Town Manager to enter into an agreement, in a form approved by the Town Attorney, with Superlative for naming and sponsorship rights. Background: Please see attached memo. 5.5 Contract Award to STRUCTURAL for Vail Village and Lionshead Parking Structures Repairs Authorize the Town Manager to enter into an agreement, in a form approved by the Town Attorney, with STRUCTURAL for the Vail Village and Lionshead Parking Structures Repairs, in an amount not to exceed $978,729.00. Background: The Town has completed a structural assessment of the Vail Village and Lionshead parking structures and is now ready to complete these repairs most needed. 6.Presentation/Discussion (6:15pm) Resolution No. 11 - Regional Planning Commission for Transportation Attachment A. Final Approved IGA Template Attachment B. Final Approved Bylaws Council Memo - Hazard Mitigation Plan Resolution No. 12 - Hazard Mitigation Plan Attachment A. Eagle County Hazard Mitigation Plan Council Memo - GEFPD Ladder Truck Lease Attachment A. Intergovernmental Agreement for Ladder Truck Lease Council Memo - Naming Rights Council Memo - Parking Structure Repairs 2 6.1 Summer Managed Parking Discussion (6:15pm)90 min. Provide direction to staff for next steps. Presenter(s): Greg Hall, Public Works Director and Stephanie Kashiwa, Parking Manager Background: The purpose of this discussion is to share the Parking & Mobility Task Force's recommendation for a Summer 2025 Parking Program with Town Council and request feedback to allow Staff and Task Force to return April 1, 2025 for a decision for implementation this summer. 7.Action Items (7:45pm) 7.1 Resolution No. 13, Series of 2025, A Resolution of the Vail Town Council Making Findings on the Appeal of Case B25-0412, Concerning a Building Permit Application for 3070 Booth Creek Drive, Vail, Colorado, and Affirming the Decision of the Building Official (7:45pm) 5 min. Approve Resolution No. 13, Series of 2025, and read findings into the record. Presenter(s): Barry Davis, Mayor Pro Tem Background: On March 4, 2025, the Town Council held a properly-noticed hearing on the appeal for B24-0412, and the Appellant was provided with an opportunity to present evidence in support of its appeal. Following the hearing, the Town Council directed the Town Attorney to prepare a Resolution with written findings regarding the appeal. 7.2 Ordinance No. 4, Series of 2025, First Reading, An Ordinance Making Budget Adjustments to the Town of Vail General Fund, Capital Projects Fund, Real Estate Transfer Tax Fund, Housing Fund, Heavy Equipment Fund, Internal Employee Housing Rental Fund, Timber Ridge Fund, and Dispatch Services Fund of the 2025 Budget for the Town of Vail, Colorado; and Authorizing the Said Adjustments as Set Forth Herein; and Setting Forth Details in Regard Thereto (7:50pm) 5 min. Approve, approve with amendments, or deny Ordinance No. 4, Series of 2025 upon first reading. Presenter(s): Jake Shipe, Budget Manager Background: Please see attached memo. 7.3 Ordinance No. 5, Series 2025, First Reading, An Ordinance Concerning the West Middle Creek Housing Development and in Connection Therewith Authorizing the Leasing of Certain Town Property, the Advance of a Loan to the Vail Home Partners Corporation, and the Execution and 10 min. Council Memo - Summer Managed Parking Staff Presentation - Summer 2025 Parking Program Resolution No. 13 - Making Findings on Appeal Council Memo - 1st Supplemental Budget Ordinance No. 4 - 1st Budget Supplemental, First Reading Staff Presentation - 1st Supplemental Budget Presentation 3 Delivery of a Site Lease. Lease Purchase Agreement and Other Documents (7:55pm) Approve, approve with amendments, or deny Ordinance No. 5, Series of 2025, upon first reading. Presenter(s): Carlie Smith, Finance Director Background: Please see attached memo. 8.Public Hearings (8:05pm) 8.1 An Appeal, Pursuant to Section 12-3-3, Appeals and Call- Up, Vail Town Code, of the Final Decision of the Town of Vail Planning and Environmental Commission on January 13, 2025, Denying the Variance from Section 12-6D-8B, Gross Residential Floor Area, Vail Town Code, Pursuant to Title 12 Chapter 17, Variances, Vail Town Code to Allow for an Increase in the Allowable Gross Residential Floor Area (GRFA) within the Two-Family Primary/Secondary Zone District Located at 387 Beaver Dam Circle, Lot 1A, Block 4, Vail Village 3rd Filing (TC25-0002) (8:05pm) 5 min. The Appellant requests Town Council grant a continuance of this hearing. Presenter(s): Heather Knight, Planner Background: On January 13, 2025, the Planning and Environmental Commission voted 6-1 (Tucker opposed) to deny a variance request to allow for an increase in the allowable GRFA for the home located at 387 Beaver Dam Circle. The current owner was unaware of previous changes to the crawlspaces. They were not reviewed by the Town of Vail staff as part of any building permit. The applicant was informed the excess GRFA needed to be resolved prior to the issuance of a new building permit. The applicant is asking for a GRFA variance. 8.2 Ordinance No. 7, Series of 2025, An Emergency Ordinance Amending Title 7 of the Vail Town Code by the Addition of a New Chapter 13 to Establish Chain Law Enforcement Procedures (8:10pm) 5 min. Approve, approve with amendments, or deny Emergency Ordinance No. 7, Series of 2025. Presenter(s): Commander Chris Botkins, Vail Police Department Council Memo - COP Debt Authorization Ordinance No. 5 - Authorizing Ordinance Attachment A. Indenture Housing COPs West Middle Creek Attachment B. Lease-Housing COPs West Middle Creek Attachment C. Site Lease West Middle Creek Council Memo - 387 Beaver Dam Circle Appeal Attachment A. 387 Beaver Dam GRFA Variance Appeal Attachment B. PEC24-0048 Packet Attachment C. PEC Meeting Minutes Staff Presentation - TC25-0002 387 Beaver Dam Circle Applicant Presentation - 387 Beaver Dam Circle Letter to Town Council Requesting Continuance of Appeal 3-9-25 4 Background: The Vail Police Department is requesting Town Council approve a municipal chain law ordinance mirroring Colorado's state chain law, with a specified fine of $1,500 for non-compliance and $2,650 for non-compliance while blocking the roadway. 8.3 Ordinance No. 2, Series of 2025, Second Reading, An Ordinance Reestablishing Special Development District No. 43, Highline Doubletree (8:15pm) 5 min. Approve, approve with amendments, or deny Ordinance No. 2, Series of 2025, upon second reading. Presenter(s): Greg Roy, Planning Manager Background: Per Town Code Section 12-9A-12 Time Requirements, SDD approval is only valid for three years, during which time initial construction must be started and diligently pursued. The original approval for SDD No. 43 was good through June 2023. In March, 2021 during the COVID- 19 pandemic, the applicants submitted a Major SDD Amendment to phase the project and extend the timeline and approval was extended to September 2024. 8.4 Ordinance No. 3, Series of 2025, Second Reading, An Ordinance Amending Chapter 4-14 of the Vail Town Code to Establish Fees for Missed Short-Term Rental Inspections (8:20pm) 5 min. Approve, approve with amendments, or deny Ordinance No. 3, Series of 2025 upon second reading. Presenter(s): Carlie Smith, Finance Director Background: The purpose of Ordinance No. 3, Series 2025 is to amend the Title 4, Chapter 14 of the Vail Town Code to allow staff to assess a fee to STR owners or property managers who set up a fire inspection appointment and fail to attend the appointment. 9.Adjournment (8:25pm) Council Memo - Chain Ordinance Ordinance No. 7 - Emergency Chain Law Enforcement Council Memo - Highline Doubletree SDD Ordinance No. 2, Series of 2025, Second Reading Attachment A. Vicinity Map Attachment B. Applicant Narrative Attachment C. McDowell Parking Analysis Attachment D. Skyline Geoscience Geologic Study Attachment E. McDowell Transportation Impact Study Attachment F. Project Plan Set Attachment G. PEC Minutes 12-23-2024 Attachment H. PEC Minutes 1-13-2025 Attachment I. PEC24-0039 Staff Report 1-13-2025 Staff Presentation Applicant Presentation Council Memo - STR Inspection Fee Ordinance No. 3, Series of 2025 - STR Inspection Fee 5 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 970-479-2460 for additional information. Sign language interpretation is available upon request with 48 hour notification dial 711. 6 AGENDA ITEM NO. 2.1 Item Cover Page DATE:March 18, 2025 SUBMITTED BY:Steph Johnson, Town Manager ITEM TYPE:Citizen Participation AGENDA SECTION:Public Participation (6:00pm) SUBJECT:Public Participation (10 min.) SUGGESTED ACTION: VAIL TOWN COUNCIL AGENDA ITEM REPORT ATTACHMENTS: Public Participation 7 From:Laura Slinkman To:PublicInputTownCouncil Cc:Rich Slinkman Subject:No to Excise Tax on STRs Date:Monday, March 10, 2025 1:46:30 PM Good afternoon council members, As part time residents of Vail, we wanted to write to the council and voice our concerns following recent meetings regarding STRs and excise taxes. It is well known that Vail has struggled to provide adequate affordable housing for its employees for decades. Add to that a more recent push by some residents to “crack down” on the STRs. Unfortunately, it appears that the Town of Vail is attempting to not only use the proposed excise tax as a way to fund the affordable housing project, but also as a means to appease residents who are concerned about STRs and want to see the council “do something”. What better way than to “stick it to the STRs” with yet another fee/tax under the window dressing of benefitting affordable housing this time. Unfortunately, there are many of us that are part time residents, just trying to afford their home, that are being captured in this big net you are throwing against STRs. Personally, we have been coming to Vail for over 40+ years utilizing STRs in the Vail Racquet Club and Timber Falls East Vail area for all our visits prior to 1993. At that point, our family purchased a home in East Vail as a second home so that we could continue our annual visits and maybe even retire part time to Vail. Unfortunately, recently we were put into a financial position where we needed to either sell the home or choose to rent the home via STR in order to afford to keep our home in the family. We chose to keep our home and offset the costs through STR. We rent our home for less than 30% of the year, visiting personally throughout the rest of the year when we can. Our home size has been great for large families coming out to ski, as well as families in the summer coming out for weddings, hiking, camping or just to get away for a month and enjoy the views. All of our guests, and other guests like them who utilize STRs, bring income to Vail throughout the year. As one resident commented at an earlier meeting, there may be high end resort style STRs bringing in up to $400,000 a year, that they run as a business, while others like us make less than $40,000, just trying to make ends meet. That is us. This is our second home. For us it is not a business, it is a means to ensure we can keep our vacation home. I am sure our story makes up the majority of STRs in the Vail area. As a homeowner in Vail, we already feel the squeeze with our property taxes almost doubling these past two years. The Town of Vail has again raised our annual licensing fees for STRs. Now you want to add excise taxes to STRs? Coupled with various comments made by council members at meetings regarding the existence of STRs, it’s apparent that there is a sentiment to make it painful if not unaffordable to have a STR in Vail…maybe a big business can absorb these costs, maybe a high end STR raking in hundreds of thousands…but what about those of us who simply want to pay for our home? Those of us who visit often and patronize Vail every chance we get? Who follow the rules and exist peacefully within our communities? We disagree with council woman Biszantz who was quoted in an interview as saying “To me, in my dream scenario, each property that goes to a short-term rental, their fees or taxes or whatever version of payment need to be covering the cost of losing a home for a local.” To that we would ask, what about our neighbors who also own a home in Vail but live in Denver, work in Denver, and their children go to school in Denver full time? They don’t live and work in Vail full time either. Would they not also be "taking a home from a local"? The only difference is that they aren’t adding to Vail’s economy by bringing in guests and revenue to Vail like we do. So why would we want to single out the STR, the one bringing revenue to Vail, to pay even more? 8 The proposal of an excise tax under the appearance of raising annual revenue to fund affordable housing is transparently just a way to placate local residents who have concerns over STRs by making ia appear that the council is "doing something” by “punishing” the STR, making them foot the bill to pay for the housing they are supposedly taking away…which studies show they are actually are not, as council member Staufer stated, “I think the reason we’re discussing this and the reason every community in the West is discussing this is the perception and the anecdotal evidence is that STRs are damaging to local businesses and damaging to local housing opportunities, then we have this study that quite frankly says the opposite.” “What’s the purpose in regulating them? We’ve jumped past that and assumed we need to regulate,” council member Seibert has said. “If we need to look into this further, I’m not totally against it … at the same time, I’m not sure we’re going to get the result we’re looking for with control on something that’s not really having that kind of impact.” To put an additional excise tax solely on STRs to fund a housing shortage - a shortage that has been a problem for decades - is not a solution. Why would you single out STRs as your avenue to raise revenue, when the resort hotels, mountain activities, and local businesses are the entities benefitting most from guest patronage? These are also the entities that utilize the local work force the most who need the housing. With that in mind, why would the solution be to tax the short term rentals ONLY? Your are basically financially “punishing" the STR for providing additional housing and bringing in revenue producing guests. If you aim to supplement the funding of affordable housing, then ALL OF VAIL should participate in the funding because ALL OF VAIL benefits. Year round residents use the same slopes and restaurants and shops that part-time residents, STR guests, and resort lodging guests use. Therefore, if Vail Resorts (the one who NEEDS the employees) is going to get assistance with building affordable housing, then the burden of subsidizing affordable housing should be shared by EVERYONE. In addition, by adding this to a ballot in November to vote on, you are excluding the very people who you plan to tax. If most STRs are owned as a second home, then those owners will not be registered to vote in local elections and do not get a say what is happening to them. This is certainly not fair at all to those that will be impacted to not give them a voice. “I know our public wants to see something on the ballot because they want to have a voice in the STRs, but I think putting something on the ballot that’s not going to move the needle … I think that’s irresponsible", said council member Barry Davis. We feel that it is unfair to put an additional excise tax solely on the backs of the STR’s as a means to fund the affordable housing project. This housing shortage has been a problem for decades, yet we continue to build more resort lodging and more condos and kick the can down the road. Now the council is willing to treat the STRs as if they are the problem and should bear the burden. If anything is to be levied, it should be across the board to all businesses who utilize local employees - resorts, restaurants, shops, gas stations, grocery stores, local service providers, etc. An additional Excise Tax levied solely on an STR as a solution for a Vail-wide problem should emphatically be a NO. Thank you for taking the time to hear our concerns, Sincerely Rich and Laura Slinkman 4551 Streamside Circle E 9 10 AGENDA ITEM NO. 4.1 Item Cover Page DATE:March 18, 2025 SUBMITTED BY:Steph Johnson, Town Manager ITEM TYPE:Main Agenda AGENDA SECTION:Appointments for Boards & Commissions (6:10pm) SUBJECT:Art In Public Places (AIPP) Appointments SUGGESTED ACTION:Motion to appoint two members to service on the AIPP Board for a two-year term, ending March 31, 2027. VAIL TOWN COUNCIL AGENDA ITEM REPORT ATTACHMENTS: 11 AGENDA ITEM NO. 4.2 Item Cover Page DATE:March 18, 2025 SUBMITTED BY:Steph Johnson, Town Manager ITEM TYPE:Main Agenda AGENDA SECTION:Appointments for Boards & Commissions (6:10pm) SUBJECT:Design Review Board (DRB) Appointments SUGGESTED ACTION:Motion to approve two members to service on the DRB for a two-year term, ending March 31, 2027. VAIL TOWN COUNCIL AGENDA ITEM REPORT ATTACHMENTS: 12 AGENDA ITEM NO. 5.1 Item Cover Page DATE:March 18, 2025 SUBMITTED BY:Greg Hall, Public Works ITEM TYPE:Resolution AGENDA SECTION:Consent Agenda (6:15pm) SUBJECT:Resolution No. 11, Series of 2025, A Resolution Approving an Intergovernmental Agreement for a Regional Planning Commission for Transportation Planning SUGGESTED ACTION:Approve, approve with amendments, or deny Resolution No. 11, Series of 2025. VAIL TOWN COUNCIL AGENDA ITEM REPORT ATTACHMENTS: Council Memo - Regional Planning Commission for Transportation Resolution No. 11 - Regional Planning Commission for Transportation Attachment A. Final Approved IGA Template Attachment B. Final Approved Bylaws 13 To:Vail Town Council From:Public Works Department Date:March 18, 2025 Subject:Resolution No. 11, Series 2025 – Intermountain Transportation Planning Region Bylaws I.SUMMARY Colorado is divided into 15 regions including 10 rural Transportation Planning Regions (TPRs) and five Metropolitan Planning Organizations (MPO). Each region develops a Regional Transportation Plan (RTP) that identifies the unique needs and priorities for the region – all 15 plans are consolidated and integrated in the Colorado Statewide Transportation Plan. The Town of Vail is a part of the Intermountain Transportation Planning Region (IMTPR), which includes Eagle, Garfield, Lake, Pitkin, & Summit Counties. In order to be a member of the IMTPR, the Town is required to adopt the Regional Planning Commission Bylaws (attached), which generally identify the purpose, membership, representation, meeting, and voting requirements. II.RECOMMENDATION Staff recommends the Council adopt the Regional Planning Commission Bylaws by Resolution. 14 RESOLUTION NO. 11 Series of 2025 A RESOLUTION APPROVING AN INTERGOVERNMENTAL AGREEMENT FOR A REGIONAL PLANNING COMMISSION FOR TRANSPORTATION PLANNING WHEREAS, the Town wishes to enter into an intergovernmental agreement, in the form attached hereto Exhibit A and incorporated herein by this reference (the “IGA"), cooperate in developing and maintaining a long range Regional Transportation Plan, the purpose of which is to identify the mobility needs of the Intermountain Transportation Planning Region, and prepare a plan for addressing the needs. NOW THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF VAIL, COLORADO THAT: Section 1. The Town Council hereby approves the IGA in substantially the same form as attached hereto as Exhibit A, and in a form approved by the Town Attorney, and authorizes the Town Manager to execute the IGA on behalf of the Town. Section 2. This Resolution shall take effect immediately upon its passage. INTRODUCED,PASSED AND ADOPTED at a regular meeting of the Town Council of the Town of Vail held this 18th day of March 2025. _________________________ Travis Coggin,Mayor ATTEST: ________________________________ Stephanie Johnson, Acting Town Clerk 15 INTERGOVERNMENTAL AGREEMENT FOR A REGIONAL PLANNING COMMISSION FOR TRANSPORTATION PLANNING Intermountain Regional Planning Commission (IMRPC), representing the Intermountain Transportation Planning Region (IMTPR) THIS AGREEMENT made this eighteenth day of April 2025 by and among the following local governments in the Intermountain Transportation Planning Region: Eagle County Town of Avon Town of Eagle Town of Gypsum Town of Minturn Town of Red Cliff Town of Vail Garfield County Town of Carbondale City of Glenwood Springs Town of New Castle Town of Parachute City of Rifle Town of Silt Lake County City of Leadville Pitkin County City of Aspen Town of Basalt Town of Snowmass Village Summit County Town of Blue River Town of Breckenridge Town of Dillon Town of Frisco Town of Keystone Town of Montezuma Town of Silverthorne CORE Transit Roaring Fork Transportation Authority (RFTA) Participation in this agreement by each aforementioned party is made only upon execution of a Certificate of Participation. This Agreement is thereby executed in multiple Certificates of Participation, each of which shall constitute an original, but all of which, taken together, shall constitute the same document. 16 WHEREAS, the parties to this Agreement have the authority pursuant to Article XIV, Section 18 of the Colorado Constitution and Section 29-1-201, et seq., Colorado Revised Statutes, to enter into intergovernmental agreements for the purpose of providing any service or performing any function which they can perform individually, and; WHEREAS, Section 43-1-1101 C.R.S. recognizes Regional Planning Commissions as the proper forum for transportation planning, and; WHEREAS, Section 43-1-1102(5) C.R.S. requires that Regional Planning Commissions formed for the purpose of transportation planning must be formed pursuant to Section 30-28-105 C.R.S., and; WHEREAS, the parties to this Agreement desire to cooperate in developing and maintaining a long range Regional Transportation Plan, the purpose of which is to identify the mobility needs of the Intermountain Transportation Planning Region, and prepare a plan for addressing the needs, and; WHEREAS, Section 43-1-1103 C.R.S. requires that any Regional Planning Commission formed for the purpose of transportation planning is responsible for regional transportation planning for said region, and; WHEREAS, the Intermountain Transportation Planning Region, consisting of the areas within the counties of Eagle, Garfield, Lake, Pitkin, and Summit was designated in the Rules Governing Statewide Transportation Planning Process and Transportation Planning Regions (2 CCR 601-22) as adopted by the Transportation Commission of Colorado and effectiveApril 18, 2025, and; WHEREAS, the parties to this Agreement are governing bodies or officials having charge of public improvements within their jurisdictions in the Intermountain Transportation Planning Region. NOW, THEREFORE, the parties hereby mutually agree as follows: 1. Designation of Regional Planning Commission. The parties to this Agreement shall have one representative each on the Regional Planning Commission for the Intermountain Transportation Planning Region. 2. Responsibilities of Regional Planning Commission. The Regional Planning Commission shall be responsible, in cooperation with the state and other governmental agencies, for carrying out necessary continuing, cooperative, and comprehensive transportation planning for the Intermountain Transportation Planning Region; for creating, amending, and updating Regional Transportation Plans pursuant to all applicable federal and state laws and rules or regulations including public participation provisions; for recommending the priority for any transportation improvements planned for the region; for abiding by the Regional Planning Commission Bylaws and for participating in the State Transportation Improvement Program development process. The Regional Planning Commission shall keep records of its resolutions, transactions, contractual undertakings, findings, and determinations, which shall be public records. 3. Chairperson and Officers. The Regional Planning Commission shall elect its Chairperson and Vice Chairperson, whose terms shall be two years, with eligibility for reelection. The Chairperson, or the Vice Chairperson, shall be the representative of the Intermountain Transportation Planning Region on the State Transportation Advisory Committee (STAC). 17 4. Contracting. The Regional Planning Commission may, with the consent of the parties to this Agreement, contract the services of other eligible individuals or entities to carry out all or any portion of the responsibilities assumed by the Regional Planning Commission under this Agreement. 5. Distribution of state or federal funds. The Regional Planning Commission may, through contracts or Memorandaof Agreement, receive and expend state or federal funds designated for regional transportation planning. 6. Meetings must be held at least quarterly and shall be open to the public. Notice of the meeting shall be provided to its members and Contact List and posted on the TPR website no less than one week prior to the meeting. If the meeting provides a virtual option, the meeting link will be included in the public notice. 7. Quorum and Voting. Each member is entitled to one vote, either in person or via email. A quorum is required and shall be as determined by the Bylaws of the Commission. 8. Meeting Minutes and Agendas. The Commission is responsible for recording minutes of its meetings and posting them publicly on its website. The Commission’s Administrator and Chairperson are responsible for creating the meeting agenda. The meeting agenda shall be posted on the Commission’s website and distributed to members and interested parties on its TPR Contact List. 9. Terms of this Agreement. This Agreement shall remain in full force and effect for so long as the parties to this Agreement consider necessary to complete and maintain Regional Transportation Plans for the Intermountain Transportation Planning Region and for periodic updates or amendments as may be required. Any party to this Agreement may, however, terminate its participation in this Agreement 60 days after providing written notice of such termination to the other parties of this Agreement. This Agreement may be terminated at any time by agreement of all parties to this Agreement unless a grant contract is in effect with the State. In this case, the State must approve such termination and arrangements for completing the project. 10. Modification and Changes. The terms of this Agreement may be modified at any time by agreement of all parties to this Agreement. 18 CERTIFICATE OF PARTICIPATION IN THE INTERGOVERNMENTAL AGREEMENT FOR A REGIONAL PLANNING COMMISSION FOR TRANSPORTATION PLANNING Intermountain Transportation Planning Region (IMTPR) THIS is to certify that [Entity or Official’s Name] has agreed to participate in this Intergovernmental Agreement for the Intermountain Regional Planning Commission. IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the day first written above on page 1. [Name, Title] [Entity Name] ATTEST: Date: [Name, Title] Seal: Date: 19 Intermountain Regional Planning Commission (RPC), representing the Intermountain Transportation Planning Region (IMTPR) Regional Planning Commission Bylaws April 18, 2025 Article I. Name The name of this organization shall be the Intermountain Regional Planning Commission (IMRPC). Article II. Organization The Commission shall be governed by the Intermountain Regional Planning Commission (IMRPC) Intergovernmental Agreement (IGA), the policies and guidelines set forth in these bylaws, and all applicable state and federal laws and regulations. The area served by the Commission is the Intermountain Transportation Planning Region (IMTPR), as designated by the Colorado Department of Transportation (CDOT) in Planning Rules (2 CCR 601-22). The Intermountain Transportation Planning Region (IMTPR) is the geographic area, which is governed by the Intermountain Regional Planning Council (IMRPC). The IMRPC is made up of various elected/appointed officials and/or staff from each city, town, county, and statutory Regional Transit Authority within the IMTPR. Article III. Purpose The Commission shall promote regional transportation planning, cooperation, and coordination among federal and state government, local or special-purpose governments, and transportation stakeholders within the IMTPR, and will: A. Provide a forum to identify, study, and recommend solutions to IMTPR transportation concerns. B. Develop and formalize policies involving IMTPR transportation planning and coordination of federal and state funding assistance. C. Serve as a vehicle for the collection and exchange of transportation information and expertise. D. Develop and approve IMTPR transportation plans in accordance with relevant federal, state, and local laws, regulations, and policies. E. Encourage action and implementation of regional plans and policies for transportation improvement by local, state, and federal agencies. F. Maintain an IMTPR Contact List that includes IMRPC members, all general and relevant special- purpose local governments, and private or public organizations and individuals with an expressed or implied stakeholder interest in transportation planning. Article IV. Membership A. The members of the Commission shall include the Colorado Department of Transportation (as a 20 nonvoting member), each statutory Regional Transit Authority within the IMTPR, and those county and municipal governmental entities located within the IMTPR boundaries that have completed an IGA Certificate of Participation, which include: a. Town b. City c. County B. The Commission may impose conditions upon such membership as it deems necessary to preserve the structure and integrity of the Commission, including, but not limited to requiring financial support for its continued operation. C. Any member may withdraw from the Commission upon giving not less than 60 days’ advance written notice. Such notice shall be delivered to the Chair of the Commission. No such withdrawal shall serve to excuse the payment of any sums or performance of any obligations agreed to be paid or performed prior to the giving of such notice, or the payment of any sums for services performed during the 60-day period of notice. Article V. Representation A. The business of the Commission shall be conducted by representatives of its members, determined as follows: a. One (1) representative or a designated alternate, respectively, of each county and each municipal member, and each statutory Regional Transit Authority within the IMTPR. The Governing body of any member organization may appoint, at their discretion, voting and alternate voting representatives to the Commission. Members shall appoint representatives from their governing bodies or from staff. b. The Regional Transportation Director of CDOT Engineering Region 3, or their designee (a nonvoting member). c. Voting memberships may be granted to state or federal entities at the discretion of the Commission. Such membership shall not be conditioned upon contribution to the Commission and may be terminated by the Commission at its discretion. B. Non-voting participation may be granted to any public or private entity involved in transportation [or air quality] with conditions for such participation to be determined by the Commission. The Commission may terminate such participation at its discretion. C. Each representative serving on the Commission shall serve at the direction of the entity the member represents. Vacancies occurring on the Commission shall be filled in the same manner as is provided for in the original designations. Article VI. Officers A. The officers of the Commission shall consist of a Chair and a Vice Chair. B. Each officer shall serve a term of two years. Nominations and elections shall be held at the first meeting of the calendar year on even years. There shall be no terms limits. C. Vacancies in any office shall be filled by a regular vote of the Commission. D. The duties of the officers shall be as follows: a. The Chair shall preside over all meetings of the Commission. b. The Vice Chair shall serve in the absence of the Chair and shall assist the Chair and perform such other duties as may be assigned by the Commission. c. The Chair will represent the Commission on the Statewide Transportation Advisory Committee (STAC) to review regional and statewide transportation plans, amendments, and updates, and to advise CDOT on the needs of transportation systems in Colorado. The Commission shall annually designate the Vice Chair to represent the Commission in the event the Chair cannot attend a STAC meeting. 21 Article VII. Meetings, Voting, and Quorum A. The Commission shall meet on at least a quarterly basis, at a time and place set forth in the minutes and posted on the IMTPR website, in accordance with The Colorado Open Records Act, (CORA) C.R.S. § 24-72-201 to 206. B. The Chair may call a special meeting outside of the regular meeting schedule with 72 hours’ notice provided to the Commission and the public. C. All meetings of the Commission and its committees are open to the public. The public is welcome at meetings and may express their opinions at such times as designated by the agenda or when recognized by the Chair. All meetings are subject to the Colorado Open Records Act, (CORA) C.R.S. § 24-72-201 to 206. D. Each Commission member jurisdiction shall carry one (1) vote, either in person or virtually. E. 50 percent plus one voting member of the IMRPC membership must be present to constitute a quorum to conduct official business. No proxies are allowed. F. In a situation where an IMRPC decision is desired on a letter of support, convening of a special meeting, and/or items of a similar action, the decision-making process may be conducted through an email among all voting members determine if there is any opposition to the proposed direction. If there is opposition, the issue must be brought to an advertised meeting for formal consideration. If no opposition by the Commission is communicated within 2 business days, the proposed direction will be deemed approved. Article VII. Committees The Commission may establish working committees as necessary and shall provide for the appointment of the membership of said memberships. Article IX. Administration and Finance The IMTPR Administrator shall provide administrative support for the Commission’s business and its duties as Administrator are as outlined in an MOA executed by the Commission Chair. The Chair and the Commission Administrator shall be responsible for making meeting agendas and meeting minutes available to the public by posting them on the Commission website and making them available to CDOT for posting on CDOT’s planning website. The agenda should include a set time to receive public comments. Any public comments made will be recorded and posted on the IMTPR website. Article X. Conflicts of Interest Whenever a member has cause to believe that a matter to be voted upon would involve the member in a conflict of interest, the member shall announce the conflict of interest and abstain from voting on such matter. Article XI. Amendment These Bylaws may be amended by an affirmative vote of a two-thirds majority of the representatives present and vote according to the vote system described in Article V at any regular meeting of the Commission, provided at least 30 days’ written notice of the proposed amendment has been provided to the members. 22 AGENDA ITEM NO. 5.2 Item Cover Page DATE:March 18, 2025 SUBMITTED BY:Ryan Ocepek, Fire Department ITEM TYPE:Resolution AGENDA SECTION:Consent Agenda (6:15pm) SUBJECT:Resolution No. 12, Series of 2025, A Resolution Adopting a Multi- Jurisdictional Hazard Mitigation Plan SUGGESTED ACTION:Approve, approve with amendments, or deny Resolution No. 12, Series of 2025. VAIL TOWN COUNCIL AGENDA ITEM REPORT ATTACHMENTS: Council Memo - Hazard Mitigation Plan Resolution No. 12 - Hazard Mitigation Plan Attachment A. Eagle County Hazard Mitigation Plan 23 March 13, 2025 To:Vail Town Council Through:Russ Forrest Town Manager Mark Novak Chief of Vail Fire and Emergency Services From:Ryan Ocepek Deputy Chief of Vail Fire and Emergency Services Justin Liffick Deputy Chief of Vail Police Department Subject:Resolution Adopting the 2025 Eagle County Hazard Mitigation Plan The Vail Fire & Emergency Services and Vail Police Department are requesting the Vail Town Council to adopt the 2025 Eagle County Hazard Mitigation Plan in collaboration with all Eagle County Public Safety agencies, Eagle County Emergency Manager’s Office, Colorado Department of Homeland Security and Emergency Management and The Federal Emergency Management Administration (FEMA). The Eagle County Hazard Mitigation Plan for 2025 outlines key goals and objectives aimed at reducing the impact of natural and human-caused hazards, minimizing economic losses, and effectively implementing mitigation actions. The first goal is to protect life, property, and the environment by identifying areas at high risk from disasters such as wildfires, floods, and avalanches. This includes enhancing risk assessments, developing action plans to safeguard critical infrastructure and public safety, managing mitigation efforts, and increasing public awareness. The second goal focuses on minimizing economic losses and accelerating recovery by strengthening disaster resiliency among governments, businesses, and the community, promoting continuity planning, and reducing financial exposure. The third goal emphasizes the implementation of mitigation actions through collaboration with community partners, integrating hazard mitigation into policies, complying with federal and state guidelines, preparing for secondary hazards, and maintaining an updated mitigation plan through regular evaluations and modifications. These objectives work collectively to enhance Eagle County’s preparedness and resilience against future disasters. 24 RESOLUTION NO. 12 Series of 2025 A RESOLUTION ADOPTING A MULTI-JURISDICTIONAL HAZARD MITIGATION PLAN WHEREAS, the Federal Disaster Mitigation Act of 2000 was signed into law on October 30, 2000, placing new emphasis on state and local mitigation planning for natural hazards and requiring jurisdictions to adopt a hazard mitigation action plan to be eligible for pre-disaster and post-disaster federal funding for mitigation purposes; WHEREAS, a Multi- Jurisdictional Hazard Mitigation Plan was prepared by Eagle County, CO, with assistance from JEO Consulting Group, Inc., in the form attached hereto as Exhibit A and incorporated herein by this reference (the “Plan”); WHEREAS, the purpose of the Plan was to lessen the effects of disasters by increasing the disaster resistance of the County and participating jurisdictions located within the planning area by identifying the hazards that affect Eagle County, and by prioritizing mitigation actions and strategies to reduce potential loss of life and property damage from those hazards; and WHEREAS, FEMA regulations require documentation that the Plan has been formally adopted by the governing body of Eagle County in the form of a resolution and further requesting approval of the Plan at the Federal Level. NOW THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF VAIL, COLORADO THAT: Section 1. The Town Council hereby adopts the Plan in substantially the same form as attached hereto as Exhibit A, and in a form approved by the Town Attorney, and authorizes the Town Manager to execute the Plan on behalf of the Town. Section 2. This Resolution shall take effect immediately upon its passage. INTRODUCED,PASSED AND ADOPTED at a regular meeting of the Town Council of the Town of Vail held this 18th day of March 2025. _________________________ Travis Coggin, Mayor ATTEST: ________________________________ Stephanie Johnson, Acting Town Clerk 25 Eagle County Hazard Mitigation Plan 2025 Prepared by: 26 Eagle County Hazard Mitigation Plan | 2025 1 Eagle County Planning Team Name Title Jurisdiction Birch Barron Director of Emergency Management Eagle County Fernando Almanza Deputy Emergency Manager Eagle County *Phil Luebbert Project Coordinator JEO Consulting Group Inc. *Karl Dietrich Planner JEO Consulting Group Inc. *Mark Thompson State Hazard Mitigation Officer Colorado Division of Homeland Security and Emergency Management *Matthew West Mitigation Planning Supervisor Colorado Division of Homeland Security and Emergency Management *Served in an advisory or consultant role. 27 2 Eagle County Hazard Mitigation Plan | 2025 This Page Is Intentionally Blank 28 Eagle County Hazard Mitigation Plan | 2025 3 Table of Contents Eagle County Planning Team...................................................................................................... 1 Table of Contents........................................................................................................................ 3 List of Figures ............................................................................................................................. 5 List of Tables .............................................................................................................................. 5 Section One: Introduction ............................................................................................................ 7 Hazard Mitigation Planning ...................................................................................................... 7 Hazard Mitigation Assistance .................................................................................................. 7 Summary of Changes .............................................................................................................. 9 Goals and Objectives .............................................................................................................. 9 Participating Jurisdictions ...................................................................................................... 10 Section Two: How to Use This Hazard Mitigation Plan .............................................................. 11 Introduction ........................................................................................................................... 11 How to Use This Document ................................................................................................... 11 Section Three: Planning Area Overview .................................................................................... 13 Introduction ........................................................................................................................... 13 Location and Geography ....................................................................................................... 13 Demographics ....................................................................................................................... 13 Housing ................................................................................................................................. 16 Employment and Economics ................................................................................................. 18 Section Four: Planning Process Summary ................................................................................ 19 Introduction ........................................................................................................................... 19 Plan Update Process ............................................................................................................. 19 Stakeholder and Public Involvement ...................................................................................... 21 Section Five: Risk Assessment Summary ................................................................................. 23 Introduction ........................................................................................................................... 23 Hazard Identification .............................................................................................................. 23 Hazard Assessment Summary Tables ................................................................................... 25 FEMA National Risk Index ..................................................................................................... 29 Historical Disaster Declarations ............................................................................................. 29 Hazard Profiles ...................................................................................................................... 31 Section Six: Mitigation Strategy ................................................................................................. 35 Introduction ........................................................................................................................... 35 Summary of Changes ............................................................................................................ 35 Selected Mitigation and Strategic Actions .............................................................................. 35 Participant Mitigation Actions ................................................................................................. 36 Section Seven: Plan Implementation and Maintenance ............................................................ 37 Monitoring, Evaluating, and Updating the Plan ...................................................................... 37 Continued Public Involvement ............................................................................................... 38 Unforeseen Opportunities ...................................................................................................... 38 Incorporation into Existing Planning Mechanisms .................................................................. 38 Section Eight: Participant Profiles ............................................................................................. 41 Purpose of Participant Profiles .............................................................................................. 41 Participant Profile Appendices Eagle County and Community Appendix Eagle County Town of Avon Town of Basalt* 29 Table of Contents 4 Eagle County Hazard Mitigation Plan | 2025 Town of Eagle Town of Gypsum Town of Minturn Town of Red Cliff Town of Vail Special Distristricts Appendix Basalt Library District Basalt Sanitation District Berry Creek Metro District Cordillera Metro District Eagle County Paramedic Services Eagle County School District Eagle River Fire Protection District Eagle River Water & Sanitation District Eagle Vail Metropolitan District Eagle Valley Library District Eagle Valley Transportation Authority Greater Eagle Fire Protection District Gypsum Fire Protection District Mountain Recreation Metropolitan District Roaring Fork Fire Rescue Authority Vail Recreation District Appendix A: Full Risk Assessment Appendix B: Planning Process Documentation Appendix C: Planning Area Profile Appendix D: Mitigation Strategy Appendix E: Hazard Mitigation Project Funding Guidebook Appendix F: Guide to Review and Update the Hazard Mitigation Plan Appendix G: Eagle County Community Wildfire Protection Plan *Participated in the Pitkin County Hazard Mitigation Plan1 1 Pitkin County. April 2023. “Pitkin County Hazard Mitigation Plan”. https://pitkincounty.com/DocumentCenter/View/31286/Pitkin- County-Hazard-Mitigation-Plan-2023. 30 Eagle County Hazard Mitigation Plan | 2025 5 List of Figures Figure 1: County Population, 1890-2020 .................................................................................................... 13 Figure 2: Eagle County Planning Area ........................................................................................................ 14 Figure 3: Population by Age Cohort and Sex (2020) .................................................................................. 15 Figure 4: Housing Age in Eagle County ...................................................................................................... 17 Figure 5: Project Timeline ........................................................................................................................... 19 Figure 6: First Responders at an Emergency Incident ............................................................................... 39 List of Tables Table 1: 2019 Plan Comments and Revisions ............................................................................ 9 Table 2: Participating Jurisdictions ............................................................................................10 Table 3: School Inventory .........................................................................................................15 Table 4: County Inventory of Care Facilities ..............................................................................16 Table 5: County & State ESL and Poverty At-Risk Populations .................................................16 Table 6: County Racial Composition Trends .............................................................................16 Table 7: County Housing Characteristics ..................................................................................16 Table 8: Vulnerable County & State Housing Characteristics ....................................................17 Table 9: Vulnerable Employment & Economic Characteristics ..................................................18 Table 10: Hazards Addressed in the Plan .................................................................................23 Table 11: Loss Estimation for Eagle County ..............................................................................26 Table 12: County Risk Assessment ...........................................................................................27 Table 13: National Risk Index ...................................................................................................29 Table 14: Presidential Disaster Declarations .............................................................................29 Table 15: USDA Secretarial Disasters (2012-2023) ..................................................................30 Table 16: State Emergency Declarations ..................................................................................30 Table 17: Prioritized Hazards of Concern by Jurisdiction ..........................................................31 31 6 Eagle County Hazard Mitigation Plan | 2025 This Page Is Intentionally Blank 32 Eagle County Hazard Mitigation Plan | 2025 7 Section One: Introduction Hazard Mitigation Planning Hazard mitigation planning is a process in which hazards are identified and profiled; people and facilities at-risk are identified and assessed for threats and potential vulnerabilities; and strategies and mitigation measures are identified. Hazard mitigation planning increases the ability of communities and other governmental entities to effectively function in the face of natural disasters. The goal of the process is to reduce risk and vulnerability, in order to lessen impacts on life, the economy, and infrastructure. Severe weather and hazardous events are occurring more frequently in our daily lives. Pursuing mitigation strategies reduces risk and is socially and economically responsible to prevent long- term risks from natural and human-caused hazard events. Hazards, such as severe winter weather, avalanche, severe wind, intentional attacks, landslides, floods, lightning, and wildfires are part of the world around us. These hazard events can occur as a part of normal operation or because of human error. All jurisdictions participating in this planning process are vulnerable to a wide range of hazards that threaten the safety of residents and have the potential to damage or destroy both public and private property, cause environmental degradation, or disrupt the local economy and overall quality of life. This plan is an update to the Eagle County Hazard Mitigation Plan approved in 2019. The plan update was developed in compliance with the requirements of the Disaster Mitigation Act of 2000 (DMA 2000). By preparing this plan, Eagle County has demonstrated a commitment to reducing risks from hazards and to helping decision makers establish mitigation activities and resources. Hazard Mitigation Assistance On June 1, 2009, FEMA initiated the Hazard Mitigation Assistance program integration, which aligned certain policies and timelines of the various mitigation programs. These Hazard Mitigation Assistance programs present a critical opportunity to minimize the risk to individuals and property from hazards while simultaneously reducing the reliance on federal disaster funds. FEMA definition of Hazard Mitigation “Any sustained action taken to reduce or eliminate the long-term risk to human life and property from [natural] hazards.” 33 Section One | Introduction 8 Eagle County Hazard Mitigation Plan | 2025 Each Hazard Mitigation Assistance program was authorized by separate legislative actions, and as such, each program differs slightly in scope and intent. • Hazard Mitigation Grant Program: To qualify for post-disaster mitigation funds, local jurisdictions must adopt a mitigation plan that is approved by FEMA. Hazard Mitigation Grant Program provides funds to states, territories, Indian tribal governments, local governments, and eligible private non-profits following a presidential disaster declaration. The DMA 2000 authorizes up to seven percent of Hazard Mitigation Grant Program funds available to a state after a disaster to be used for the development or update of state, tribal, and local mitigation plans. • Flood Mitigation Assistance: This program provides grant funds to implement projects such as acquisition or elevation of flood-prone homes. Jurisdictions must be participating communities in the National Flood Insurance Program to qualify for this grant. The goal of Flood Mitigation Assistance is to reduce or eliminate claims under the National Flood Insurance Program. • Building Resilient Infrastructure and Communities: This program replaced the Pre- Disaster Mitigation Program beginning in 2020 and provides funds on an annual allocation basis to local jurisdictions for implementing programs and projects to improve resiliency and local capacity before disaster events. • Pre-Disaster Mitigation: The Pre-Disaster Mitigation grant program makes federal funds available to state, local, tribal, and territorial governments to implement measures designed to reduce the risk to individuals and property from future natural hazards. The Consolidated Appropriations Act of 2023 authorizes funding for 100 projects with total funds of $233,043,782 in 2023. • Fire Mitigation Assistance Grants: Section 404 of the Stafford Act allows FEMA to provide Hazard Mitigation Grant Program grants to any area that received a Fire Management Assistance Grant declaration even if no major Presidential declaration was made. Fire Mitigation Assistance Grants aids communities in implementing long-term mitigation measures after a wildfire event. For more information about these grant programs and other funding opportunities to help implement identified mitigation actions see Appendix E: Hazard Mitigation Project Funding Guidebook. Mitigation is the cornerstone of emergency management. Mitigation focuses on breaking the cycle of disaster damage, reconstruction, and repeated damage. Mitigation lessens the impact disasters have on people's lives and property through damage prevention, appropriat e development standards, and affordable flood insurance. Through measures such as avoiding building in damage -prone areas, stringent building codes, and floodplain management regulations, the impact on lives and communities is lessened. - FEMA Mitigation Directorate 34 Section One | Introduction Eagle County Hazard Mitigation Plan | 2025 9 Summary of Changes The hazard mitigation planning process goes through changes during each plan update to best accommodate the planning area and specific conditions. Changes from the 2019 Hazard Mitigation Plan and planning process in this update included: an updated plan layout, greater efforts to reach and include stakeholder groups, greater effort to include all taxing authorities as participants; a more in-depth funding guidebook; and changes to meet updated FEMA hazard mitigation plan policies. The plan was also updated to reflect changing priorities for each participating jurisdiction. Prioritized hazards of concern were identified by each local planning team along with a review of mitigation actions. Each local planning team reviewed the mitigation actions from 2019 and updated the timeline, priority (high, medium, low), and status. Local planning teams were also able to add new mitigation actions to better fit any changing priorities and concerns. The 2019 Eagle County Hazard Mitigation Plan Review Tool was reviewed for possible changes to incorporate into this plan update and were addressed where applicable. These changes are described in the table below. Table 1: 2019 Plan Comments and Revisions Comment/Revision from 2019 Review Tool Location of Revision Summary of Changes Consider utilizing GIS data of hazards, people, and structures during the annual review process to simplify the exposure and vulnerability update in the next plan. Participant Profile, Appendix A: Full Risk Assessment GIS data and maps were added and included throughout the plan when data was available. Goals and Objectives The potential for disaster losses and the probability of occurrence of natural and human-caused hazards present a significant concern for the jurisdictions participating in this plan. The driving motivation behind this hazard mitigation plan is to reduce vulnerability and the likelihood of impacts to the health, safety, and welfare of all citizens in the planning area. To this end, the Eagle County Planning Team reviewed and approved goals which helped guide the process of identifying both broad-based and jurisdictional-specific mitigation strategies and projects that will, if implemented, reduce their vulnerability, and help build stronger, more resilient communities. Goals from the 2019 hazard mitigation plan were reviewed, and the Eagle County Planning Team agreed that they are still relevant and applicable for this plan update. The updated goals and objectives for this plan update are as follows. Goal 1: Protect Life, Property, and the Environment by Reducing the Impact of Natural and Human-Caused Hazards in Eagle County Objectives A. Enhance assessment of multi-hazard risk to life, property, and the environment to identify areas within Eagle County that are at particular risk from catastrophic loss due to wildfires, floods, avalanches, and other hazards. B. Develop and implement action plans to reduce potential loss of life, property, critical infrastructure, and valued resources while protecting the safety of the public and emergency responders. C. Provide framework for implementation and management of mitigation actions identified by this plan. D. Increase public education and awareness of hazards and risk reduction measures. 35 Section One | Introduction 10 Eagle County Hazard Mitigation Plan | 2025 Goal 2: Minimize Economic Losses and Speed Recovery and Redevelopment Following Future Disaster Events Objectives A. Strengthen disaster resiliency of governments, businesses, and community members. B. Promote and conduct continuity of operations and continuity of governance planning. C. Reduce financial exposure of the county, municipal governments, and fire protection districts. Goal 3: Implement the Mitigation Actions Identified in this Plan Objectives A. Engage collaborative partners, community organizations, businesses, and others. B. Commit to hazard mitigation principles and integrate mitigation activities into existing and new community plans and policies. C. Comply with federal and state legislation and guidance for local hazard mitigation planning. D. Proactively prepare to minimize secondary hazards associated with expected events. E. Monitor, evaluate, and update the mitigation plan on an annual basis and modify plans, as necessary. Participating Jurisdictions Jurisdictions that participated in the Eagle County Hazard Mitigation Plan are listed in the table below. These jurisdictions met all the requirements for participation by attending required meetings, assisting in data collection, identifying mitigation actions, reviewing plan drafts, and either adopting the plan by resolution or planning to adopt the plan by resolution. Table 2: Participating Jurisdictions Participating Jurisdictions Eagle County Eagle County Paramedic Services Town of Avon Eagle County School District Town of Basalt* Eagle River Fire Protection District Town of Eagle Eagle River Water & Sanitation District Town of Gypsum Eagle Vail Metropolitan District Town of Minturn Eagle Valley Library District Town of Red Cliff Eagle Valley Transportation Authority Town of Vail Greater Eagle Fire Protection District Basalt Library District Gypsum Fire Protection District Basalt Sanitation District Mountain Recreation Metropolitan District Berry Creek Metro District Roaring Fork Fire Rescue Authority Cordillera Metro District Vail Recreation District *Participates in the Pitkin County Hazard Mitigation Plan2 2 Pitkin County. April 2023. “Pitkin County Hazard Mitigation Plan”. https://pitkincounty.com/DocumentCenter/View/31286/Pitkin- County-Hazard-Mitigation-Plan-2023. 36 Eagle County Hazard Mitigation Plan | 2025 11 Section Two: How to Use This Hazard Mitigation Plan Introduction This hazard mitigation plan was developed for anyone that lives, works, owns a business, owns land, or visits Eagle County. Different sections of the plan will be helpful to different people. This section is designed to help guide readers to the most relevant information. How to Use This Document Jurisdiction that Participated in the Plan I am a governing official from a participating jurisdiction and want to learn more about the hazards that could impact my jurisdiction, identify strategies to reduce vulnerability to those hazards, how to secure funding for those strategies, and how to keep the plan up to date. I would review: • Section Three Planning Area Overview and Appendix C Planning Area Profile: To learn about demographics, at-risk populations, housing, employment, economics, social vulnerability, rural capacity index, state and federal areas, and historical sites. • Section Five Risk Assessment Summary and Appendix A Full Risk Assessment: To learn about the hazards that could impact Eagle County, where those hazards are likely to occur, how often they are likely to occur, the possible extent of the hazards, how climate change will impact the hazards, and countywide vulnerabilities. • Section Six Plan Implementation and Maintenance and Appendix F Guide to Review and Update the Hazard Mitigation Plan: To learn about plan maintenance and how to update your participant section. • Section Eight Plan Participant Profiles: To learn jurisdictional specific information about Eagle County, local communities, and other local jurisdictions. Each participant section contains information about prioritized hazards, infrastructure critical to community lifelines, and mitigation strategies. • Appendix E Hazard Mitigation Funding Guidebook: To learn about various federal, state, and other funding sources to help pay for identified mitigation strategies. Resident, Landowner, Visitor, or Business I am a resident, landowner, visitor, or business and want to learn about Eagle County/my community, protecting my family, home, and property from natural and human-caused hazards. I would review: • Section Three Planning Area Overview and Appendix C Planning Area Profile: To learn about demographics, at-risk populations, housing, employment, economics, social vulnerability, rural capacity index, state and federal areas, and historical sites. 37 Section Two | How to Use This Hazard Mitigation Plan 12 Eagle County Hazard Mitigation Plan | 2025 • Section Five Risk Assessment Summary and Appendix A Full Risk Assessment: To learn about the hazards that could impact Eagle County, where those hazards are likely to occur, how often they are likely to occur, the possible extent of the hazards, how climate change will impact the hazards, and countywide vulnerabilities. • Section Seven Plan Implementation and Maintenance: To learn jurisdictional specific information about Eagle County, local communities, and other local jurisdictions. Each participant section contains information about prioritized hazards, infrastructure critical to community lifelines, and mitigation strategies. State or Federal Agency I am with a state or federal agency and want to learn more about the planning process, hazard risks, and mitigation strategies across all jurisdictions in Eagle County. I would review: • Section One Introduction: To learn about the goals and objectives of the Eagle County Hazard Mitigation Plan. • Section Three Planning Area Overview and Appendix C Planning Area Profile: To learn about demographics, at-risk populations, housing, employment, economics, social vulnerability, rural capacity index, state and federal areas, and historical sites. • Section Four Planning Process Summary and Appendix B Planning Process Documentation: To learn about the planning process, who attended meetings, and who was invited to participate. • Section Five Risk Assessment Summary and Appendix A Full Risk Assessment: To learn about the hazards that could impact Eagle County, where those hazards are likely to occur, how often they are likely to occur, the possible extent of the hazards, how climate change will impact the hazards, and countywide vulnerabilities. • Appendix D Mitigation Strategy: To learn about the mitigation strategies identified by each participating jurisdiction. 38 Eagle County Hazard Mitigation Plan | 2025 13 Section Three: Planning Area Overview Introduction To identify jurisdictional vulnerabilities, it is vitally important to understand the people and built environment of the planning area. The following section provides a summary of Eagle County’s characteristics. A more detailed profile broken down by community is covered in Appendix C: Planning Area Profile, including demographics, at-risk populations, employment, economics, and housing. Location and Geography Eagle County is located in the Rocky Mountains of northwestern Colorado. The county covers 1,692 square miles and elevation ranges from 6,128 feet to 14,011 feet above sea level. The White River National Forest covers a large portion of the eastern and southern portions of the county. There are seven incorporated communities in Eagle County: Town of Avon, Town of Basalt, Town of Eagle, Town of Gypsum, Town of Minturn, Town of Red Cliff, and the Town of Vail. Major transportation routes include Interstate 70, U.S. Highway 6, U.S. Highway 24, State Highway 82, and State Highway 131. Major waterways in the district include the Colorado River, Eagle River, Piney River, Gypsum Creek, Brush Creek, Derby Creek, Rock Creek, Alkali Creek, and Gore Creek. Figure 2 shows Eagle County, incorporated communities, major transportation routes, major waterways, and location within the state. Demographics The U.S. Census Bureau collects specific demographic information for Eagle County. The estimated population of the planning area is 55,731.3 Figure 1: County Population, 1890-2020 Source: U.S. Census Bureau4 3 United States Census Bureau. “2020 Census Bureau Decennial Census: P1: Race.” https://data.census.gov/. 4 United States Census Bureau. “2020 Census Bureau Decennial Census: P1: Race.” https://data.census.gov/. 3,725 3,608 2,985 3,385 3,924 5,361 4,488 4,677 7,498 13,320 21,928 41,659 52,197 55,731 0 10,000 20,000 30,000 40,000 50,000 60,000 1890 1900 1910 1920 1930 1940 1950 1960 1970 1980 1990 2000 2010 2020 39 Section Three | Planning Area Overview 14 Eagle County Hazard Mitigation Plan | 2025 Figure 2: Eagle County Planning Area 40 Section Three | Planning Area Overview Eagle County Hazard Mitigation Plan | 2025 15 Figure 3: Population by Age Cohort and Sex (2020) Source: U.S. Census Bureau5 Community and regional vulnerability are impacted by growing or declining populations. Areas growing quickly may lack resources to provide services for all residents in a reasonable timeframe including snow removal, emergency storm shelters, repairs to damaged infrastructure, or even tracking the location of vulnerable populations. Eagle County has displayed large population growth since 1970. However, growth has slowed in 2010 and 2020. Additional population information broken down by community can be found in Appendix C: Planning Area Profile. In general, certain populations may have increased vulnerability due to difficulty with medical issues, extremes in age, and communication issues due to language barriers. Several at-risk populations have been identified in Eagle County. These include: • Schools • Care Facilities • Populations That Speak English as a Second Language • Racial Minorities The tables on the next page list the at-risk populations in Eagle County. For additional information about at-risk populations see Appendix C: Planning Area Profile. Table 3: School Inventory School District Total Enrollment (2022-2023) Teachers (2022-2023) Eagle County School District 6,623 532 Source: Colorado Department of Education6,7 5 United States Census Bureau. “2020 Census Bureau Decennial Census: P1: Race.” https://data.census.gov/. 6 Colorado Department of Education. September 2023. “PK-12 Membership Trend by District.” https://www.cde.state.co.us/cdereval/pupilcurrent. 7 Colorado Department of Education. September 2023. “Count of Teachers by District, Ethnicity and Gender.” https://www.cde.state.co.us/cdereval/pupilcurrent. 10 9 8 7 6 5 4 3 2 1 0 1 2 3 4 5 6 7 8 9 10 11 12 Under 5 5 to 9 10 to 14 15 to 19 20 to 24 25 to 29 30 to 34 35 to 39 40 to 44 45 to 49 50 to 54 55 to 59 60 to 64 65 to 69 70 to 74 75 to 79 80 to 84 Over 85 Percentage of the Population Ye a r s Female %Male % 41 Section Three | Planning Area Overview 16 Eagle County Hazard Mitigation Plan | 2025 Table 4: County Inventory of Care Facilities Hospitals Adult Care Homes Assisted Living Homes 1 1 1 Source: Colorado Department of Public Health and Environment8 Table 5: County & State ESL and Poverty At-Risk Populations Jurisdiction Percent That Speaks English as Second Language Eagle County 25.8% State of Colorado 16.3% Source: U.S. Census Bureau9 Table 6: County Racial Composition Trends 2010 2010 2021 2021 % Race Number % of Total Number % of Total Change White, Not Hispanic 43,428 83.2% 45,334 81.4% -1.8% Black 365 0.7% 501 0.9% 0.2% American Indian and Alaskan Native 365 0.7% 56 0.1% -0.6% Asian 522 1.0% 779 1.4% 0.4% Native Hawaiian and Other Pacific Islander 0 0.0% 56 0.1% 0.1% Other Races 6,421 12.3% 2,061 3.7% -8.6% Two or More Races 1,096 2.1% 6,906 12.4% 10.3% Total Population 52,197 - 55,694 - - Source: U.S. Census Bureau10,11 Housing The U.S. Census Bureau provides information related to housing units and potential areas of vulnerability. Potentially vulnerable housing characteristics include vacant housing, rental properties, mobile homes, older housing, those with no internet, and homes with no vehicles available. The tables below show vulnerable housing characteristics in Eagle County. Additional housing information broken down by community can be found in Appendix C: Planning Area Profile. Table 7: County Housing Characteristics Jurisdiction Occupied Housing Units Vacant Housing Units Owner Occupied Housing Units Renter Occupied Housing Units Eagle County 19,511 (59.8%) 13,100 (40.2%) 13,884 (71.2%) 5,627 (28.8%) Source: U.S. Census Bureau12 8 Colorado Department of Public Health and Environment. 2023. “Regulated Health Facilities”. https://cdphe.colorado.gov/find-and- compare-facilities. 9 United States Census Bureau. “2021 Census Bureau American Community Survey: S1601: Language Spoken at Home.” https://data.census.gov/. 10 United States Census Bureau. “2010 Census Redistricting Data (Public Law 94-171): P1: Race.” https://data.census.gov. 11 United States Census Bureau. “2021 Census Bureau American Community Survey: DP05: ACS Demographic and Housing Estimates.” https://data.census.gov/. 12 United States Census Bureau. “2021 Census Bureau American Community Survey: DP04: Selected Housing Characteristics.” https://data.census.gov/. 42 Section Three | Planning Area Overview Eagle County Hazard Mitigation Plan | 2025 17 Table 8: Vulnerable County & State Housing Characteristics Housing Characteristics Eagle County State of Colorado Occupied Housing Units 19,511 (59.8%) 2,227,932 (90.8%) Lacking Complete Plumbing Facilities 0.1% 0.3% Lacking Complete Kitchen Facilities 0.5% 0.7% No Telephone Service Available 1.0% 1.0% Broadband Internet Subscription 95.1% 90.9% No Vehicles Available 3.4% 5.0% Mobile Homes 5.9% 3.8% Source: U.S. Census Bureau13,14 Figure 4: Housing Age in Eagle County Source: U.S. Census Bureau15 Housing Crisis Eagle County is a highly desirable area to visit and live in, with premier ski resorts and abundant public land for recreation. However, the cost of housing in Eagle County has increased dramatically over the last decade because of low interest rates on secondary properties and increases in short-term rental properties. The lack of available and affordable workforce housing has caused many employers to have unfilled positions. Those working in Eagle County often have to pay high rents, work multiple jobs, or commute into the county from other areas.16 13 United States Census Bureau. “2021 Census Bureau American Community Survey: DP04: Selected Housing Characteristics.” https://data.census.gov/. 14 United States Census Bureau. “2021 Census Bureau American Community Survey: DP02: Selected Social Characteristics in the United States.” https://data.census.gov/. 15 United States Census Bureau. “2021 Census Bureau American Community Survey: DP04: Selected Housing Characteristics”. https://data.census.gov/. 16 Eagle County. December 2023. “Eagle County Community Wildfire Protection Plan”. https://csfs.colostate.edu/wp- content/uploads/2023/12/Community_Wildfire_Protection_Plan-ECFinal.pdf. 2.1 0.6 0.8 3 16.5 22.8 31 19 4 0 5 10 15 20 25 30 35 Pre 1940 1940-1949 1950-1959 1960-1969 1970-1979 1980-1989 1990-1999 2000-2009 2010-2020 Pe r c e n t a g e o f H o u s i n g U n i t s Year Built 43 Section Three | Planning Area Overview 18 Eagle County Hazard Mitigation Plan | 2025 Employment and Economics The U.S. Census Bureau provides information related to employment and economic indicators. Low-income populations and the unemployed may be more vulnerable to certain hazards like flooding and severe winter weather. Additional employment and economic information broken down by community can be found in Appendix C: Planning Area Profile. Table 9: Vulnerable Employment & Economic Characteristics Employment and Economic Characteristics Eagle County State of Colorado Percent of People Living Below the Poverty Line 9.2% 9.6% Median Household Income $91,338 $80,184 Unemployment Rate 3.9% 4.6% Source: U.S. Census Bureau17 17 United States Census Bureau. “2021 Census Bureau American Community Survey: DP03: Selected Economic Characteristics.” https://data.census.gov/. 44 Eagle County Hazard Mitigation Plan | 2025 19 Section Four: Planning Process Summary Introduction The process utilized to develop a hazard mitigation plan is often as important as the final planning document. For this planning process, Eagle County adapted the four-step hazard mitigation planning process outlined by FEMA to fit the needs of the participating jurisdictions. The following pages give a summary of the planning process that took place during the plan update. Plan Update Process Once Eagle County was awarded a FEMA grant for their hazard mitigation plan update, JEO Consulting Group, Inc. was contracted to assist, guide, and facilitate the planning process and plan assembly. To start the project, a meeting was held between Eagle County staff and JEO Consulting Group, Inc. to discuss the planning process and a general schedule for the plan update (Figure 5). Figure 5: Project Timeline FEMA Planning Process Requirements Requirement §201.6(b): Planning process. An open public involvement process is essential to the development of an effective plan. In order to develop a more comprehensive approach to reducing the effects of natural disasters, the planning process shall include: (1) An opportunity for the public to comment on the plan during the drafting stage and prior to plan approval; (2) An opportunity for neighboring communities, local and regional agencies involved in hazard mitigation activities, and agencies that have the authority to regulate development, as well as businesses, academia, and other private and non-profit interests to be involved in the planning process; and (3) Review and incorporation, if appropriate, of existing plans, studies, reports, and technical information. Requirement §201.6(c)(1): The plan shall document the planning process used to develop the plan, including how it was prepared, who was involved in the process, and how the public was involved. 45 Section Four | Planning Process Summary 20 Eagle County Hazard Mitigation Plan | 2025 To be a participant in the development of this plan update, jurisdictions were required to have, at a minimum, one representative present at the Round 1 or Round 2 meetings, view meeting recordings, or attend a follow-up meeting with either JEO Consulting Group, Inc., or Eagle County. Round 1 Meetings: Hazard Identification & Plan Integration The intent of the Round 1 Meeting was to familiarize jurisdictional representatives (i.e., the local planning teams), stakeholders, and the public with the plan update process, expected actions for the coming months, the responsibilities of being a participant, and to collect preliminary information to update the plan. After the meeting, the attendees conducted risk and vulnerability assessments based on local capabilities, previous occurrences of hazards, and potential exposure. In addition, local planning team members evaluated potential integration of the hazard mitigation plan alongside other local planning mechanisms. The Round 1 Meeting was held as a hybrid meeting where participants, stakeholders, and the public could either join in-person or online via Google Meets. The meeting was held on Monday October 2, 2023, at the Eagle County Building Emergency Operations Center from 10:00am to 11:30am. Virtual and in-person sign-in sheets can be found in Appendix B: Planning Process Documentation. Round 2 Meetings: Mitigation Strategies, National Flood Insurance Program, & Plan Maintenance Round 2 information was designed to identify and prioritize new mitigation measures, update previous mitigation actions from the 2019 hazard mitigation plan, update National Flood Insurance Program information, and identify when the plan would be reviewed and by whom. Attendees were also asked to review the information collected from the Round 1 meeting related to their jurisdiction through this planning process for accuracy. The Round 2 Meeting was held as a hybrid meeting where participants, stakeholders, and the public could either join in-person or online via Google Meets. The meeting was held on Wednesday January 17, 2024, at the Eagle County Building Emergency Operations Center from 10:30am to 11:30am. Virtual and in-person sign-in sheets can be found in Appendix B: Planning Process Documentation. Public Review Once the hazard mitigation plan draft was completed, a public review period was opened to allow local planning teams and community members at large to review the plan, provide comments, and request changes. The public review period was open from February 28, 2024, through March 13, 2024. Participating jurisdictions were emailed a notification of this public review period. A link to the draft plan was also made available on the county’s website (https://www.eaglecounty.us/departments___services/emergency_management/emergency_pla ns.php) and a Facebook post was made to the Eagle County Public Information Office page. Jurisdictions and the public could provide comments via phone call or email. A review of the comments and who they were from can be found in Appendix B: Planning Process Documentation. All changes and comments were reviewed and incorporated into the plan as applicable. Plan Adoption Based on FEMA requirements, this multi-jurisdictional hazard mitigation plan must be formally adopted by each participant through approval of a resolution. This approval will create individual ownership of the plan by each participant. Formal adoption provides evidence of a participant’s 46 Section Four | Planning Process Summary Eagle County Hazard Mitigation Plan | 2025 21 full commitment to implement the plan’s goals, objectives, and action items. A copy of the resolution draft provided to participating jurisdictions is located in Appendix B: Planning Process Documentation along with any copies of adoption resolutions that have already been received. Stakeholder and Public Involvement To notify and engage the public in the planning process, a wide range of stakeholder groups, State of Colorado agencies, neighboring jurisdictions, and the general public were contacted and encouraged to participate in the plan update. Lists of the notified stakeholders, agencies, and neighboring jurisdictions can be found in Appendix B: Planning Process Documentation. The Eagle County Planning Team was asked to identify any underserved communities or vulnerable populations in the planning area not already identified, so they could have the opportunity to be involved in the planning process. The planning team identified individuals and families where Spanish is the primary language spoken. To include this group, the public survey was made available in Spanish, and the project website was also made available in Spanish. Stakeholder Groups There were 37 stakeholder groups that were identified and emailed invitations to participate in the planning process by attending meetings. Climax Molybdenum, Vail Mountain School, Stone Creek Charter School, Arrowhead Metro District, Lake Creek Metro District, Reudi Shores Metro District, Timber Springs Metro, Holland Creek Metro District, Red Sky Ranch Metro District, Two Rivers Metro District, Bachelor Gulch Metro District, and Buckhorn Valley Metro District attended meetings. Vail Mountain School returned information about their prioritized hazards of concern. Those hazards and reasons they were selected as a prioritized hazard are given below. • Avalanche: Vail Mountain School is concerned with avalanches because they threaten backcountry school programming and experiential education, risk of injury to students and staff, blocked transportation routes, and damage to the school building. • Drought: Direct impacts on the school are unlikely, however, drought can have a large impact on the local ski and recreation economy. This can have a trickle-down effect on the school budget and student population. Drought also increases the likelihood of wildfires. • Landslides: Vail Mountain School is concerned with landslides because of the risk of injury to students and staff, blocked transportation routes, disruption of services, and damage to the school building. • Severe Winter Weather: Vail Mountain School is concerned with severe winter weather’s ability to cause injuries, blocked transportation routes, and disruption of services. The school is often interrupted when severe weather closes Interstate 70. • Wildfire: Vail Mountain School is concerned with a wildfire impacting families causing them to leave the area. Wildfire could also damage the school and cause a long-term disruption in operations and school programming. FEMA Plan Adoption Requirement Requirement §201.6(c)(5): For multi-jurisdictional plans, each jurisdiction requesting approval of the plan must document that it has been formally adopted. 47 Section Four | Planning Process Summary 22 Eagle County Hazard Mitigation Plan | 2025 Vulnerable Populations Through discussions with Eagle County Emergency Management, those who primarily speak Spanish, were identified as a potential vulnerable population in the county. Targeted outreach to this population included a project announcement on the county website in Spanish and the public survey available in Spanish. The Spanish Public Survey was posted on the Eagle County Public Safety Information and Eagle County Emergency Management website, the Family Resource Center Facebook page, the Mi Salud and Mi Charco Facebook pages, and a WhatsApp group of 166 Spanish speakers in Eagle County. Copies of the postings can be found in Appendix B: Planning Process Documentation. Survey results from the Spanish survey were added to the overall public survey responses and given to Eagle County Emergency Management. State of Colorado Agencies To comply with the additional State of Colorado plan requirements various state agencies were contacted and emailed invitations to participate in the planning process by attending meetings or reviewing the draft plan. Representatives from Colorado Department of Transportation, Colorado Department of Natural Resources, and Colorado Division of Homeland Security and Emergency Management attended the public meetings. Neighboring Jurisdictions Neighboring jurisdictions were notified and invited to participate in the planning process by attending meetings. A representative from Summit County and the City of Leadville attended the Round 1 Meeting. No comments or revisions were received from any neighboring jurisdictions. Public Survey The general public was encouraged to participate in the planning process through a public survey that was available online and by hard copy in both English and Spanish. The survey was shared with the public using the county’s website, social media posts, and direct contacts. Copies of the survey along with outreach documentation can be found in Appendix B: Planning Process Documentation. The purpose of the survey was to collect specific concerns related to hazards and projects the public have a vested interest in. It was available beginning after the Round 1 meeting and closed a week prior to the Round 2 meeting. In total there were 92 responses to the survey from members of the public with a majority (40/92) coming from the Town of Gypsum. Results of the public survey were shared with participating jurisdictions during the Round 2 meeting. These results helped influence hazard prioritization and mitigation actions selected by local planning teams. The public survey could also be used by participating jurisdictions to determine needed capabilities and future outreach preferences. The most commonly experienced hazard events for residents included wildfire, severe winter weather, and lightning. This was similar to the ranked level of concern for hazard events, with one major difference, drought. The top hazards of concern included: wildfire, drought, and severe winter weather. Wildfire fuels reduction and early warning systems were the most popular mitigation projects of importance for the public. The full results of the public survey can be found in Appendix B: Planning Process Documentation. 48 Eagle County Hazard Mitigation Plan | 2025 23 Section Five: Risk Assessment Summary Introduction The ultimate purpose of this hazard mitigation plan is to minimize the loss of life and property across Eagle County due to natural and human-caused hazards. The basis for the planning process is the county and local risk assessment. This section contains a summary of potential hazards, county vulnerabilities and exposures, probability of future occurrences, and potential impacts and losses. By conducting a county and local risk assessment, participating jurisdictions can develop specific strategies to address areas of concern identified through this process. This section is meant to provide a summary of the risk assessment for Eagle County. The full risk assessment can be found in Appendix A: Full Risk Assessment. Hazard Identification The identification of relevant hazards for Eagle County began with a review of the Colorado Enhanced State Hazard Mitigation Plan 2023-2028. The Eagle County Planning Team reviewed, discussed, and determined the list of hazards to be profiled in this hazard mitigation plan update. It was decided that the hazards addressed in the 2019 Hazard Mitigation Plan were still applicable and would be used for this plan update. Two hazards were added to the plan: intentional attack and transportation incidents. The hazards for which a risk assessment was completed are listed below. Table 10: Hazards Addressed in the Plan Hazards Addressed in the Plan Avalanche Landslides Transportation Incidents Drought Lightning Wildfire Floods Severe Wind Intentional Attack Severe Winter Weather Hazards identified in the Colorado Enhanced State Hazard Mitigation Plan 2023 - 2028 that were not identified in the Eagle County Hazard Mitigation Plan update include the following list.18 • Animal Disease Outbreak • Earthquake • Erosion / Deposition • Expansive Soils • Extreme Heat • Ground Subsidence • Hail • Pandemic • Pest Infestation • Tornado 18 Colorado Division of Homeland Security & Emergency Management. 2023. “Colorado Enhanced State Hazard Mitigation Plan 2023-2028”. https://drive.google.com/file/d/1MPL0Oiy-yZYDIMziTvYkR12s35FzG-G8/view. 49 Section Five | Risk Assessment Summary 24 Eagle County Hazard Mitigation Plan | 2025 These hazards were reviewed by Eagle County and the participating jurisdictions and were chosen to not be included in this plan due to a variety of reasons. Specific reasons for omission are discussed by hazard below. Animal Disease Outbreak Animal agriculture is not a large portion of Eagle County’s local economy. In the 2022 Census of Agriculture, the county ranks 47 out of 63 Colorado counties in livestock products sold. Eagle County and the local planning teams felt that this hazard was of very low concern and did not need to be profiled in the hazard mitigation plan. Earthquake Earthquakes were not profiled in this plan due to minimal historical incidents and low magnitudes. According to the U.S. Geological Survey, there have been eight earthquakes in Eagle County since 1900.19 These earthquakes had an average magnitude of 2.3 on the Richter Scale with the largest being 3.4. Earthquakes at this magnitude have no potential damage.20 Erosion / Deposition Erosion and deposition can come from several sources including water, wind, waves, or moving ice. The most common way this occurs in Colorado is water and wind. As outlined in the Colorado Enhanced State Hazard Mitigation Plan 2023-2028, wind deposits for Eagle County are low at between 6.3%-17.9%.21 Erosion and deposition from water is addressed in the Floods risk assessment of this plan. Erosion / Deposition is not specifically profiled in this hazard mitigation plan because of these reasons. Expansive Soils Expansive soils are not profiled in this plan due to several reasons. In the Colorado Enhanced State Hazard Mitigation Plan 2023-2028, the amount of Eagle County land covered by expansive soils is low at between 1%-8.28%.22 In discussion with the planning team, there have been no notable past events or damages from expansive soils. Extreme Heat Due to the high elevation of Eagle County, extreme heat is not a concern for the planning team. Historical temperature data shows average highs in the summer between 70°F and 80°F.23 Average monthly high temperature has only been over 80°F three times since 1895. Because of this, extreme heat has not been profiled in this plan. Ground Subsidence Ground subsidence risk for Eagle County is low according to the planning team. According to the Colorado Enhanced State Hazard Mitigation Plan 2023-2028, the percentage of ground subsidence areas in the county is between 9.87% and 28.6%.24 While there has been a history of 19 U.S. Geological Survey. 2024. “Earthquake Catalog”. https://earthquake.usgs.gov/earthquakes/search/. 20 U.S. Geological Survey. 2024. “Earthquake Magnitude, Energy Release, and Shaking Intensity”. https://www.usgs.gov/programs/earthquake-hazards/earthquake-magnitude-energy-release-and-shaking-intensity. 21 Colorado Division of Homeland Security & Emergency Management. 2023. “Colorado Enhanced State Hazard Mitigation Plan 2023-2028”. https://drive.google.com/file/d/1MPL0Oiy-yZYDIMziTvYkR12s35FzG-G8/view. 22 Colorado Division of Homeland Security & Emergency Management. 2023. “Colorado Enhanced State Hazard Mitigation Plan 2023-2028”. https://drive.google.com/file/d/1MPL0Oiy-yZYDIMziTvYkR12s35FzG-G8/view. 23 National Centers for Environmental Information. April 2024. “Climate at a Glance County Time Series”. https://www.ncei.noaa.gov/access/monitoring/climate-at-a-glance/county/time-series/CO-037/tmax/1/0/1895- 2024?base_prd=true&begbaseyear=1901&endbaseyear=2024. 24 Colorado Division of Homeland Security & Emergency Management. 2023. “Colorado Enhanced State Hazard Mitigation Plan 2023-2028”. https://drive.google.com/file/d/1MPL0Oiy-yZYDIMziTvYkR12s35FzG-G8/view. 50 Section Five | Risk Assessment Summary Eagle County Hazard Mitigation Plan | 2025 25 ground subsidence events in Eagle County, this has been mostly taken care of by local building codes and development regulations. The Planning Team could not identify any further mitigation actions so this hazard will not be specifically profiled in the plan. Hail Hail has rarely occurred in Eagle County in the past. Since 1996, National Centers for Environmental Information (NCEI) data has reported two hail events in Eagle County. Both hail events were sized at 0.75 inches and did not cause any reported damage.25 Due to the lack of historical events, the likelihood of future occurrences is low and therefore this hazard has not been profiled in this plan. Pandemic As shown by the most recent Covid-19 Pandemic, a disease outbreak pandemic can occur in any location and have a large impact on people and the local economy. However, in discussions with the planning team, it was decided that the Pandemic hazard would not be profiled in this hazard mitigation plan. The planning team felt this hazard would be better addressed in plans created by the state and local health department. Pest Infestation Eagle County’s primary concern regarding pest infestation is tree kill leading to increased wildfire risk. Both the Western Balsam Bark Beetle and the Western Spruce Budworm are active in the county and can kill fir and spruce trees.26 Pests impacting wildfire risk is discussed in the wildfire risk assessment. Because of this, pest infestation will not be individually profiled in this plan. Tornado Tornadoes have very rarely occurred in Eagle County in the past. Since 1996, NCEI data reported one tornado event in Eagle County. This tornado was an F0 and did not result in any damage. Due to the lack of historical events, this hazard has not been profiled in this plan. Hazard Assessment Summary Tables The following table provides an overview of the data contained in the hazard profiles. This table is intended to be a quick reference for people using the plan. There are five main pieces of data used within these tables. • Property and Crop Damage in Dollars: This is the total dollar amount of all property damage and crop damage as recorded in federal, state, and local data sources. The limitation to these data sources is that dollar figures usually are estimates and often do not include all damages from every event, but only officially recorded damages from reported events. • Total Years of Record: This is the span of years there is data available for recorded events. • Number of Hazard Events: This shows how often an event occurs. The frequency of a hazard event will affect how a community responds. Severe winter weather may not cause 25 National Centers for Environmental Information. May 2023. “Storm Events Database”. https://www.ncdc.noaa.gov/stormevents/choosedates.jsp?statefips=8%2CCOLORADO. 26 Colorado State Forest Service. 2023. “Current Insect & Disease Activity in Colorado.” https://csfs.colostate.edu/forest- management/common-forest-insects-diseases/. 51 Section Five | Risk Assessment Summary 26 Eagle County Hazard Mitigation Plan | 2025 much damage each time, but multiple storms can have an incremental effect on housing and utilities. In contrast, severe wind can have a widespread effect on a community. • Annual probability: This can be calculated based on the total years of record and the total number of years in which an event occurred. An example of the annual probability estimate is found below: 𝑨𝒏𝒏𝒕𝒂𝒍 𝑷𝒓𝒏𝒂𝒂𝒂𝒊𝒍𝒊𝒕𝒚 (%)=𝑇𝑛𝑟𝑎𝑙 𝑌𝑐𝑎𝑟𝑟 𝑟�ℎ𝑟� 𝑎𝑛 𝐸𝑟𝑐𝑛𝑟 𝑂𝑐𝑐𝑟𝑟�ℎ𝑛𝑐 (#) 𝑇𝑛𝑟𝑎𝑙 𝑌𝑐𝑎𝑟𝑟 𝑛𝑐 𝑅𝑐𝑐𝑛𝑟𝑐 (#) 𝑟 100 The following table provides loss estimates for hazards with sufficient data. Detailed descriptions of major events are included in Appendix A: Full Risk Assessment and Section Eight: Participant Profiles. It should be noted that NCEI data are not all inclusive and the database provides very limited information on crop losses. To provide a better picture of the crop losses associated with the hazards within Eagle County, crop loss information provided by the Spatial Hazard Events and Losses Database for the United States (SHELDUS) was utilized for this update of the plan. Data for all the hazards are not always available, so only those with an available dataset are included in the loss estimation. Table 11: Loss Estimation for Eagle County Hazard Type Number of Events Property Damage1 Crop Damage2 Avalanche11 14 N/A N/A Drought5 551 out of 1,545 Months $0 $943,396 Flash Flood1 22 $727,500 $172,414 Floods Flood1 10 $3,240,000 Dam Failure3 4 N/A N/A Intentional Attack4 1 $24,000,000 N/A Landslides1 19 $3,206,000 $0 Lightning2 8 $513,379 $0 Strong Wind 7 $35,500 Severe Wind1 Thunderstorm Wind 32 $14,000 $9,747 Blizzard 3 N/A Extreme Cold/Wind Chill 1 N/A Severe Winter Heavy Snow 178 N/A N/A Weather1 Ice Storm 1 N/A Winter Storm 441 N/A Winter Weather 939 N/A Auto7 14,700 N/A Aviation8 49 N/A Transportation Rail9 30 $16,421,960 N/A Incidents Hazardous Materials Release10,12 87 $1,044,567 52 Section Five | Risk Assessment Summary Eagle County Hazard Mitigation Plan | 2025 27 Hazard Type Number of Events Property Damage1 Crop Damage2 Wildfire6 1,447 $14,030,000 $0 Total 17,993 $63,232,906 $1,125,557 1 – NCEI, 1996 – May 202327 2 – SHELDUS, 1960 – 202128 3 – Stanford University, 1890 – September 202329 4 – University of Maryland, 1970-2020.30 Eagle County Planning Team 5 – NCEI, 1895 – September 202331 6 – U.S. Forest Service, 1992 – 202032 7 – Colorado Department of Transportation, 2010 – 202233 8 – National Transportation Safety Board, 1962 – September 202334 9 – Federal Railroad Administration, 1975 – July 202335 10 – Pipeline and Hazardous Materials Safety Administration, 1971 – 202236 11 – Colorado Avalanche Information Center, 2010 – 202337 12 – Colorado State Patrol, 2013 – 202338 Table 12: County Risk Assessment Hazard Previous Occurrence Events/Years of Record Approximate Annual Probability Likely Extent Avalanche11 10/14 71% D1-D5 Drought5 551/1,545 months 36% D1-D4 Floods1,3 Floods: 19/27 Dam Failure: 4/133 Floods: 70% Dam Failure: 3% Some inundation of structures (5% of structures) and roads near streams. Some evacuations of people may be necessary Intentional Attack4 1/51 2% Varies by event Landslides1 11/27 41% Varies by event Lightning2 61/61 100% Varies by event Severe Wind1 13/27 48% Avg: 65 mph Range: 52-92 mph 27 National Centers for Environmental Information. May 2023. “Storm Events Database”. https://www.ncdc.noaa.gov/stormevents/choosedates.jsp?statefips=8%2CCOLORADO. 28 Arizona State University. 2021. “Spatial Hazard Events and Losses Database for the United States”. https://sheldus.asu.edu/SHELDUS/. 29 Stanford University. September 2023. “National Performance of Dams Program: Dam Incident Database.” http://npdp.stanford.edu/dam_incidents. 30 University of Maryland and National Consortium for the Study of Terrorism and Response to Terrorism. 1970-2020. “Global Terrorism Database”. https://www.start.umd.edu/gtd/. 31 National Centers for Environmental Information. 1895-Sept 2023. “County Time Series”. https://www.ncei.noaa.gov/access/monitoring/climate-at-a-glance/county/time-series/CO-037/pdsi/all/9/1895- 2023?base_prd=true&begbaseyear=1901&endbaseyear=2000. 32 U.S. Forest Service. 2022. “Spatial Wildfire Occurrence Data for the United States, 1992-2020”. https://www.fs.usda.gov/rds/archive/catalog/RDS-2013-0009.6. 33 Colorado Department of Transportation. 2010-2022. “Colorado Crash Data Dashboard”. https://tableau.state.co.us/t/CDOT/views/CDOTCrashSummaryAVtestver2_0/StatewideSummary?%3Aorigin=card_share _link&%3Aembed=y&%3AisGuestRedirectFromVizportal=y. 34 National Transportation Safety Board. 1962-September 2023. “Aviation Accident Database”. https://www.ntsb.gov/Pages/AviationQueryV2.aspx. 35 Federal Railroad Administration. 1975-July 2023. “Summary of Train Accidents with Reportable Damage, Casualties, and Major Causes”. https://safetydata.fra.dot.gov/OfficeofSafety/publicsite/query/TrainAccidentDamage.aspx. 36 Pipeline and Hazardous Materials Safety Administration. 1971-2022. "Incident Statistics: Colorado". https://www.phmsa.dot.gov/hazmat-program-management-data-and-statistics/data-operations/incident-statistics. 37 Colorado Avalanche Information Center. 2023. “Colorado Avalanche Accidents”. https://avalanche.state.co.us/accidents/colorado. 38 Colorado State Patrol. 2013-2023. Direct Communication. 53 Section Five | Risk Assessment Summary 28 Eagle County Hazard Mitigation Plan | 2025 Hazard Previous Occurrence Events/Years of Record Approximate Annual Probability Likely Extent Severe Winter Weather1 27/27 100% 15°-30° below zero (wind chill) 2-24” snow Transportation Incidents7,8,9,10,12 Auto: 13/13 Aviation: 33/61 Rail: 20/48 Hazardous Material Release: 11/11 Auto: 100% Aviation: 54% Rail: 42% Hazardous Material Release: 100% Varies by event Wildfire6 1,447/29 100% Avg 28.4 acres Homes and structures in the WUI at risk 1 – NCEI, 1996 – May 202339 2 – SHELDUS, 1960 – 202140 3 – Stanford University, 1890 – September 202341 4 – University of Maryland, 1970-2020.42 Eagle County Planning Team 5 – NCEI, 1895 – September 202343 6 – U.S. Forest Service, 1992 – 202044 7 – Colorado Department of Transportation, 2010 – 202245 8 – National Transportation Safety Board, 1962 – September 202346 9 – Federal Railroad Administration, 1975 – July 202347 10 – Pipeline and Hazardous Materials Safety Administration, 1971 – 202248 11 – Colorado Avalanche Information Center, 2010 – 202349 12 – Colorado State Patrol, 2013 – 202350 39 National Centers for Environmental Information. May 2023. “Storm Events Database”. https://www.ncdc.noaa.gov/stormevents/choosedates.jsp?statefips=8%2CCOLORADO. 40 Arizona State University. 2021. “Spatial Hazard Events and Losses Database for the United States”. https://sheldus.asu.edu/SHELDUS/. 41 Stanford University. September 2023. “National Performance of Dams Program: Dam Incident Database.” http://npdp.stanford.edu/dam_incidents. 42 University of Maryland and National Consortium for the Study of Terrorism and Response to Terrorism. 1970-2020. “Global Terrorism Database”. https://www.start.umd.edu/gtd/. 43 National Centers for Environmental Information. 1895-Sept 2023. “County Time Series”. https://www.ncei.noaa.gov/access/monitoring/climate-at-a-glance/county/time-series/CO-037/pdsi/all/9/1895- 2023?base_prd=true&begbaseyear=1901&endbaseyear=2000. 44 U.S. Forest Service. 2022. “Spatial Wildfire Occurrence Data for the United States, 1992-2020”. https://www.fs.usda.gov/rds/archive/catalog/RDS-2013-0009.6. 45 Colorado Department of Transportation. 2010-2022. “Colorado Crash Data Dashboard”. https://tableau.state.co.us/t/CDOT/views/CDOTCrashSummaryAVtestver2_0/StatewideSummary?%3Aorigin=card_share _link&%3Aembed=y&%3AisGuestRedirectFromVizportal=y. 46 National Transportation Safety Board. 1962-September 2023. “Aviation Accident Database”. https://www.ntsb.gov/Pages/AviationQueryV2.aspx. 47 Federal Railroad Administration. 1975-July 2023. “Summary of Train Accidents with Reportable Damage, Casualties, and Major Causes”. https://safetydata.fra.dot.gov/OfficeofSafety/publicsite/query/TrainAccidentDamage.aspx. 48 Pipeline and Hazardous Materials Safety Administration. 1971-2022. "Incident Statistics: Colorado". https://www.phmsa.dot.gov/hazmat-program-management-data-and-statistics/data-operations/incident-statistics. 49 Colorado Avalanche Information Center. 2023. “Colorado Avalanche Accidents”. https://avalanche.state.co.us/accidents/colorado. 50 Colorado State Patrol. 2013-2023. Direct Communication. 54 Section Five | Risk Assessment Summary Eagle County Hazard Mitigation Plan | 2025 29 FEMA National Risk Index FEMA’s National Risk Index is an online tool that analyzes natural hazard and community risk factors to develop a risk measurement for each county in the United States. Eighteen natural hazards are given a score from very high to very low. The table below gives the National Risk Index ratings for Eagle County. Risk Index scores are calculated using an equation that combines scores for expected annual loss, social vulnerability, and community resilience. All values fall between 0 (lowest possible value) and 100 (highest possible value). Table 13: National Risk Index Hazard Eagle County Avalanche Very High (94.7) Coastal Flooding Not Applicable Cold Wave Very Low (27.9) Drought Very Low (22.2) Earthquake Very Low (60.0) Hail Relatively Low (69.0) Heat Wave No Rating (0.0) Hurricane Not Applicable Ice Storm Relatively Low (49.3) Landslide Relatively Moderate (94.7) Lightning Relatively Moderate (83.5) Riverine Flooding Relatively Low (50.6) Strong Wind Very Low (3.6) Tornado Very Low (16.0) Tsunami Not Applicable Volcanic Activity Not Applicable Wildfire Relatively Low (65.0) Winter Weather Very Low (4.0) Overall Score Very Low (32.01) Source: FEMA51 Historical Disaster Declarations Presidential Disaster Declarations Presidential disaster declarations by county are available via FEMA from 1953 to October 2023. The following table describes the presidential disaster declarations within the county for the period of record. Eagle County has received nine presidential disaster declarations. Table 14: Presidential Disaster Declarations Disaster Declaration Number Declaration Date Title Incident Type 3025 1/29/1977 Drought Drought 719 7/27/1984 Severe Storms, Mudslides, Landslides & Flooding Flood 1421 6/19/2002 Wildfires Fire 2457 7/31/2002 CO – Panorama Fire Fire 51 FEMA. “The National Risk Index”. Accessed September 2023. https://hazards.fema.gov/nri/map. 55 Section Five | Risk Assessment Summary 30 Eagle County Hazard Mitigation Plan | 2025 Disaster Declaration Number Declaration Date Title Incident Type 3224 9/5/2005 Hurricane Katrina Evacuation Coastal Storm 5249 7/4/2018 Lake Christine Fire Fire 3436 3/13/2020 Covid-19 Biological 4498 3/28/2020 Covid-19 Pandemic Biological 5334 8/19/2020 Grizzly Creek Fire Fire Source: Federal Emergency Management Agency, 1953-October 202352 USDA Secretarial Disasters Several U.S. Department of Agriculture Secretarial Disasters for Eagle County have occurred since 2012. Table 15 lists these disaster events. All of the disasters were caused by drought. Table 15: USDA Secretarial Disasters (2012-2023) Year Type Declaration Number 2012 Drought S3260 2013 Drought S3456 2013 Drought S3548 2013 Drought S3575 2018 Drought S4336 2018 Drought S4352 2018 Drought S4386 2019 Drought S4468 2019 Drought S4481 2020 Drought S4648 2020 Drought S4755 2020 Drought S4770 2020 Drought S4775 2021 Drought S4917 2022 Drought S5147 Source: U.S. Department of Agriculture, 2003-202153 State Emergency Declarations From 1980 to 2023, there have been 21 emergency declarations from Colorado governors for events that impacted Eagle County. The table below shows all the declarations, the year they occurred, the hazard, and locations affected. Table 16: State Emergency Declarations Year Type Location Affected 1984 Flooding Delta, Dolores, Hinsdale, Saguache, Mesa, Montrose, Moffat, Rio Blanco, Pitkin, San Miguel, Ouray, Eagle, Gunnison Counties 1994 Wildfires Statewide 2002 Wildfires Statewide 2002 Drought Statewide 2003 Sinkhole Interstate 70, Eagle County 52 Federal Emergency Management Agency. October 2023. “Disaster Declarations”. https://www.fema.gov/openfema-data- page/disaster-declarations-summaries-v2. 53 U.S Department of Agriculture. 2023. “Disaster Designation Information” https://www.fsa.usda.gov/programs-and- services/disaster-assistance-program/disaster-designation-information/index. 56 Section Five | Risk Assessment Summary Eagle County Hazard Mitigation Plan | 2025 31 Year Type Location Affected 2003 Snow Emergency Statewide 2009 Severe Blizzard Statewide 2009 Severe Spring Snowstorm Statewide 2013 Winter Storm Statewide 2017 Wildfire Statewide 2018 Wildfire Statewide 2018 Wildfire Statewide 2018 Drought 40 Counties (Including Eagle County) 2020 COVID-19 Statewide 2020 Wildfire Garfield, Eagle Counties 2020 Wildfire Statewide 2021 Severe Winter Weather Statewide 2021 Burn Scar Flooding, Mudslides, Rockslides Garfield, Larimer, Eagle, Grand, Routt, Rio Blanco, Pitkin Counties 2022 Avian Influenza Statewide 2022 Highly Pathogenic Avian Influenza Statewide 2023 Extreme Cold Statewide Source: State of Colorado, 1980-202354 Hazard Profiles Information from participating jurisdictions was collected and reviewed alongside hazard occurrence, magnitude, and event narratives as provided by local, state, and federal databases. Profiles for each identified hazard in the plan were created to examine their risk and potential impact in Eagle County. These full profiles can be found in Appendix A: Full Risk Assessment. Hazards of local concern or events which have deviated from the norm are discussed in greater detail in each respective participant profile (see Section Eight: Participant Profiles of this plan). Local planning teams prioritized hazards of concern from the county hazard list based on historical hazard occurrences, potential impacts, and local capabilities. The table below lists the participants along with their prioritized hazards of concern. It is important to note that while a jurisdiction may not have selected a specific hazard as prioritized, hazard events can impact any jurisdiction at any time and their selection is not a full indication of risk. Table 17: Prioritized Hazards of Concern by Jurisdiction Jurisdiction Av a l a n c h e Dr o u g h t Fl o o d s In t e n t i o n a l At t a c k La n d s l i d e s Li g h t n i n g Se v e r e W i n d Se v e r e W i n t e r We a t h e r Tr a n s p o r t a t i o n In c i d e n t s Wi l d f i r e Eagle County X X X X X Town of Avon X X X Town of Eagle X X X 54 Colorado Division of Homeland Security & Emergency Management. 2023. “Colorado Enhanced State Hazard Mitigation Plan 2023-2028”. https://drive.google.com/file/d/1MPL0Oiy-yZYDIMziTvYkR12s35FzG-G8/view. 57 Section Five | Risk Assessment Summary 32 Eagle County Hazard Mitigation Plan | 2025 Jurisdiction Av a l a n c h e Dr o u g h t Fl o o d s In t e n t i o n a l At t a c k La n d s l i d e s Li g h t n i n g Se v e r e W i n d Se v e r e W i n t e r We a t h e r Tr a n s p o r t a t i o n In c i d e n t s Wi l d f i r e Town of Gypsum X X X X Town of Minturn X X X X X Town of Red Cliff X X X X Town of Vail X X X X X X Basalt Library District X X Basalt Sanitation District X X X X Berry Creek Metro District X Cordillera Metro District X X X X Eagle County Paramedic Services X X X Eagle County School District X X X Eagle River Fire Protection District X X X Eagle River Water & Sanitation District X X X X X Eagle Vail Metropolitan District X X X Eagle Valley Library District X X X Eagle Valley Transportation Authority X X X X Greater Eagle Fire Protection District X X X X X X Gypsum Fire Protection District X X X X Mountain Recreation Metropolitan District X X X X X 58 Section Five | Risk Assessment Summary Eagle County Hazard Mitigation Plan | 2025 33 Jurisdiction Av a l a n c h e Dr o u g h t Fl o o d s In t e n t i o n a l At t a c k La n d s l i d e s Li g h t n i n g Se v e r e W i n d Se v e r e W i n t e r We a t h e r Tr a n s p o r t a t i o n In c i d e n t s Wi l d f i r e Roaring Fork Fire Rescue Authority X X X X Vail Recreation District X X X X X 59 Section Five | Risk Assessment Summary 34 Eagle County Hazard Mitigation Plan | 2025 This Page Is Intentionally Blank 60 Eagle County Hazard Mitigation Plan | 2025 35 Section Six: Mitigation Strategy Introduction The primary focus of the mitigation strategy is to identify action items to reduce the effects of hazards on existing infrastructure and property based on the established goals and objectives of the hazard mitigation plan. These actions should consider the most cost effective and technically feasible options to address risk. Summary of Changes The development of the mitigation strategy for this plan update includes the addition of new mitigation actions, updated status or removal of past mitigation actions, and revisions to descriptions for consistency across Eagle County. Selected Mitigation and Strategic Actions After establishing the goals, the local planning teams evaluated mitigation and strategic actions. These actions included: the mitigation and strategic actions identified by each participating jurisdiction in the previous plan and additional actions discussed during the update planning process. The Eagle County Planning Team provided each participant a link to the FEMA Mitigation Ideas document to be used as a starting point to review a wide range of potential mitigation actions. Participants were also encouraged to think of actions that may need FEMA grant assistance and to review their hazard prioritization section for potential mitigation and strategic actions. Members of the Eagle County Planning Team were also available to help local jurisdictions identify additional action alternatives. These suggestions helped participants determine which actions would best assist their respective jurisdiction in alleviating damage in the event of a disaster. FEMA Mitigation Strategy Requirements Requirement §201.6(c)(3)(i): [The hazard mitigation strategy shall include a] description of mitigation goals to reduce or avoid long-term vulnerabilities to the identified hazards. Requirement §201.6(c)(3)(ii): [The mitigation strategy shall include a] section that identifies and analyzes a comprehensive range of specific mitigation actions and projects being considered to reduce the effects of each hazard, with particular emphasis on new and existing buildings and infrastructure. Requirement: §201.6(c)(3)(ii): [The mitigation strategy] must also address the jurisdiction’s participation in the National Flood Insurance Program, and continued compliance with NFIP requirements, as appropriate. Requirement: §201.6(c)(3)(iii): [The mitigation strategy section shall include] an action plan describing how the actions identified in section (c)(3)(ii) will be prioritized, implemented, and administered by the local jurisdiction. Prioritization shall include a special emphasis on th e extent to which benefits are maximized according to a cost benefit review of the proposed projects and their associated costs. Requirement §201.6(c)(3)(iv): For multi-jurisdictional plans, there must be identifiable action items specific to the jurisdiction requesting FEMA approval or credit of the plan. 61 Section Six | Mitigation Strategy 36 Eagle County Hazard Mitigation Plan | 2025 During the update of previous identified actions and the identification of new actions, local planning teams prioritized each identified mitigation and strategic action as high, medium, or low. The listed priority rating does not indicate which actions will be implemented first. Generally, high priority actions either address a major concern for the jurisdiction, have few to no challenges in implementation, and/or garner large support from the public and administration. Low priority actions either address a minor concern for the jurisdiction, have many challenges in implementation, and/or may not have support from the public or administration at this time. Medium priority actions may only have one or two of the items listed above. A mitigation and strategic action’s priority may change very quickly as circumstances change. The mitigation and strategic actions are the core of a hazard mitigation plan. The local planning teams were instructed that each hazard identified in the plan must have an action that addresses it. Mitigation and strategic actions were evaluated based on referencing the community’s risk assessment and capability assessment. Jurisdictions were encouraged to choose actions that were realistic and relevant to the concerns identified. It is important to note that not all the mitigation and strategic actions identified by a jurisdiction may ultimately be implemented due to limited capabilities, prohibitive costs, low benefit-cost ratio, or other concerns. These factors may not be identified during this planning process. Additionally, some jurisdictions may identify and pursue additional mitigation actions not identified in this hazard mitigation plan. Participant Mitigation and Strategic Actions Mitigation and strategic actions identified by participants of the HMP are found in the Mitigation and Strategic Actions Matrix in Appendix D: Mitigation Strategy. Additional information about selected actions can be found in the participant profiles in Section Eight: Participant Profiles. Each action includes the following information in the respective community profile. • Action: General title of the action item. • Description: Brief summary of what the action item(s) will accomplish. • Hazard(s) Addressed: Which hazard the mitigation action aims to address. • Estimated Cost: General cost estimate for implementing the mitigation action for the appropriate jurisdiction. • Local Funding: A list of any potential local funding mechanisms to fund the action. • Timeline: General timeline as established by planning participants. • Priority: General description of the importance and workability in which an action may be implemented (high/medium/low). • Lead agency: Listing of agencies or departments which may lead or oversee the implementation of the action item. • Status: A description of what has been done, if anything, to implement the action item. Implementation of the actions will vary between individual plan participants based upon the availability of existing information; funding opportunities and limitations; and administrative capabilities of communities. Establishing a cost-benefit analysis is beyond the scope of this plan and could potentially be completed prior to submission of a project grant application or as part of a five-year update. Completed, removed, kept, and new mitigation actions for each participating jurisdiction can be found in Section Eight: Participant Profiles. 62 Eagle County Hazard Mitigation Plan | 2025 37 Section Seven: Plan Implementation and Maintenance Monitoring, Evaluating, and Updating the Plan Each participating jurisdiction in the Eagle County Hazard Mitigation Plan will be responsible for monitoring, evaluating, and updating the plan during its five-year lifespan. Hazard mitigation projects will be prioritized by each participant’s governing body with support and suggestions from the public and business owners. Each local planning team will be responsible for plan maintenance, the frequency of review, and how the public will be involved. This information can be found in each participant’s profile under the Local Planning Team section. During the review, the local planning team can report on the effectiveness of the hazard mitigation plan, the status of projects and include which implementation processes worked well, any difficulties encountered, how coordination efforts are proceeding, and which strategies could be revised. In addition, each local planning team will be responsible for ensuring that the plan’s goals are incorporated into applicable revisions of their jurisdiction’s relevant planning documents. The hazard mitigation plan will also consider any changes in planning documents and incorporate the information accordingly in its next update. Appendix F: Guide to Review and Update the Hazard Mitigation Plan may also be used to assist with plan updates. The FEMA required update of this plan will occur at least every five years, to reduce the risk of the plan expiring. Updates may be incorporated more frequently, especially in the event of a major hazard. Eagle County will start meetings to discuss mitigation plan updates at least nine months prior to the deadline for completing the plan update. The Eagle County Emergency Management Department will review the goals and objectives of the previous plan and evaluate them to determine whether they are still pertinent and current. Among other criteria, they may want to consider the following. • Do the goals and objectives address current and expected conditions? • If any of the recommended projects have been completed, did they have the desired impact on the goal for which they were identified? If not, what was the reason it was not FEMA Plan Maintenance and Update Requirements Requirement §201.6(c)(4)(i): [The plan maintenance process shall include a] section describing the method and schedule of monitoring, evaluating, and updating the mitigation plan within a five -year cycle. Requirement §201.6(c)(4)(ii): [The plan shall include a] process by which local governments incorporate the requirements of the mitigation plan into other planning mechanisms such as comprehensive or capital improvement plans, when appropriate. Requirement §201.6(c)(4)(iii): [The plan maintenance process shall include a] discussion on how the community will continue public participation in the plan maintenance process. 63 Section Seven | Plan Implementation and Maintenance 38 Eagle County Hazard Mitigation Plan | 2025 successful (lack of funds/resources, lack of political/popular support, underestimation of the amount of time needed, etc.)? • Have either the nature, magnitude, and/or type of risks changed? • Are there implementation problems? • Are current resources appropriate to implement the plan? • Were the outcomes as expected? • Did the plan partners participate as originally planned? • Are there other agencies which should be included in the revision process? If deemed necessary, a private consulting firm or individual will be hired to help facilitate the plan update process. Continued Public Involvement To ensure continued plan support and input from the public and stakeholders, public involvement should remain a top priority for each participating jurisdiction. Every participant identified ways the public will be involved in the update process. These ways can be found in the individual participant profiles in Section Eight: Participant Profiles. The following list below shows common ways participants will involve the public in the updated process. • Social Media • Websites • Board/Council Meetings • Meeting Minutes • Email • Press Releases Unforeseen Opportunities If new, innovative mitigation options arise that could impact Eagle County or elements of this plan, which are determined to be of importance, a plan amendment may be proposed and considered separate from the annual review and other proposed plan amendments. Eagle County, as the plan sponsor, provides an opportunity for jurisdictions to compile proposed amendments and send them to the Colorado Division of Homeland Security and Emergency Management, and subsequently to FEMA, for a plan amendment. Such amendments should include all applicable information for each proposal including description of changes, identified funding, responsible agencies, etc. Incorporation into Existing Planning Mechanisms The Eagle County Planning Team utilized a variety of plan integration tools to help communities determine how their existing planning mechanisms were related to the Hazard Mitigation Plan. Utilizing FEMA’s Integrating the Local Natural Hazard Mitigation Plan into a Community’s Comprehensive Plan55 guidance, as well as FEMA’s 2015 Plan Integration56 guide, each jurisdiction engaged in a plan integration discussion. This discussion was facilitated by a Plan Integration Worksheet or set of questions, created by the Eagle County Planning Team. This 55 Federal Emergency Management Agency. November 2013. “FEMA Region X Integrating the Local Natural Hazard Mitigation Plan into a Community’s Comprehensive Plan”. https://www.fema.gov/sites/default/files/2020-07/integrating-hazard- mitigation-local-plan.pdf. 56 Federal Emergency Management Agency. July 2015. “Plan Integration: Linking Local Planning Efforts.” https://www.fema.gov/sites/default/files/2020-06/fema-plan-integration_7-1-2015.pdf. 64 Section Seven | Plan Implementation and Maintenance Eagle County Hazard Mitigation Plan | 2025 39 offered an easy way for participants to notify the Eagle County Planning Team of existing planning mechanisms, and if they interface with the hazard mitigation plan. Each jurisdiction referenced all relevant existing planning mechanisms and provided information on how these did or did not address hazards and vulnerability. Summaries of plan integration are found in each individual Participant Profile. For jurisdictions that lack existing planning mechanisms, especially smaller communities, the plan may be used as a guide for future activity and development in the jurisdiction. Figure 6: First Responders at an Emergency Incident Source: Eagle County 65 Section Seven | Plan Implementation and Maintenance 40 Eagle County Hazard Mitigation Plan | 2025 This Page Is Intentionally Blank 66 Eagle County Hazard Mitigation Plan | 2025 41 Section Eight: Participant Profiles Purpose of Participant Profiles Participant profiles contain information specific to jurisdictions participating in the Eagle County Hazard Mitigation Plan planning effort. Participant profiles were developed with the intention of highlighting each jurisdiction’s unique characteristics that affect its vulnerability to hazards. These profiles may serve as a short reference of identified vulnerabilities and mitigation actions for a jurisdiction as they implement the mitigation plan. Information from individual jurisdictions was collected at public and one-on-one meetings and used to establish their section of the plan. Participant profiles may include the following elements: • Location Map • Local Planning Team • Capability Assessment • Plans and Studies • Future Development Trends • Community Lifelines • Hazard Prioritization and Mitigation Strategy Individual participant profiles can be found in the Eagle County and Community Appendix or Special Districts Appendix. The location of the profiles is given below. Eagle County and Community Appendix Eagle County Town of Avon Town of Eagle Town of Gypsum Town of Minturn Town of Red Cliff Town of Vail Special Distristricts Appendix Basalt Library District Basalt Sanitation District Berry Creek Metro District Cordillera Metro District Eagle County Paramedic Services Eagle County School District Eagle River Fire Protection District Eagle River Water & Sanitation District Eagle Vail Metropolitan District Eagle Valley Library District Eagle Valley Transportation Authority Greater Eagle Fire Protection District Gypsum Fire Protection District Mountain Recreation Metropolitan District 67 Section Eight | Participant Profiles 42 Eagle County Hazard Mitigation Plan | 2025 Roaring Fork Fire Rescue Authority Vail Recreation District 68 AGENDA ITEM NO. 5.3 Item Cover Page DATE:March 18, 2025 SUBMITTED BY:Mark Novak, Fire Department ITEM TYPE:Consent Agenda AGENDA SECTION:Consent Agenda (6:15pm) SUBJECT:Lease Agreement with Greater Eagle Fire Protection District for Ladder Truck Usage SUGGESTED ACTION:Authorize the Town Manager to enter into an agreement, in a form approved by the Town Attorney, with Greater Eagle Fire Protection District for 2001 Pierce ladder truck lease. VAIL TOWN COUNCIL AGENDA ITEM REPORT ATTACHMENTS: Council Memo - GEFPD Ladder Truck Lease Attachment A. Intergovernmental Agreement for Ladder Truck Lease 69 To:Vail Town Council From: Mark Novak, Fire Chief Date: March 12, 2025 Subject: IGA with Greater Eagle Fire Protection District I.Purpose This memo is to provide the Vail Town Council with information regarding an IGA with Greater Eagle Fire Protection District (GEFPD) for the lease of a Town of Vail fire apparatus to the GEFPD. II.Current Situation In 2024 Vail Fire and Emergency Services (VFES) procured a new ladder truck. The ladder truck it replaced (2001 Pierce) is scheduled to be sold. In 2024 Greater Eagle Fire Protection District sold their ladder truck due to unresolvable mechanical issues. GEFPD has contracted to procure a new ladder truck, however this apparatus is not scheduled to be delivered until late 2026 or early 2027. Until the time that GEFPD takes delivery of a new aerial apparatus, there are situations in which VFES would be called to respond to the GEFPD service area with our ladder truck. This would result in a long response time and would result in a lower level of service within the Town of Vail while our aerial apparatus was deployed down-valley. In order to provide for life safety for the citizens of Eagle County, staff from VFES is proposing to allow GEFPD to use the 2001 Pierce aerial apparatus for a period not to exceed 24 months. During this time, GEFPD will be responsible for repairs as well as maintaining insurance coverage on the 2001 Pierce apparatus. The attached IGA provides for a no fee lease which will allow GEFPD to use the 2001 aerial apparatus. III.Staff Recommendation Approve lease agreement between the TOV and GEFPD. 70 1 3/12/2025 C:\USERS\EASYPD~1\APPDATA\LOCAL\TEMP\BCL TECHNOLOGIES\EASYPDF 8\@BCL@DC098436\@BCL@DC098436.DOCX LEASE AGREEMENT THIS LEASE AGREEMENT (the "Lease") is made and entered into as of the ____ day of _____________, 2025 (the "Effective Date"), by and between the Town of Vail, a Colorado municipal corporation with an address of 75 South Frontage Road, Vail, CO 81657 (the "Town") , and the Greater Eagle Fire Protection District ("GEFPD"), a quasi- municipal corporation and political subdivision of the State of Colorado and a duly organized and existing special district pursuant to Title 32, Article 1, C.R.S. with an address of 425 East 3rd Street, PO Box 961, Eagle, CO 81631 (each a "Party" and collectively the "Parties"). WHEREAS, the Town owns a 2001 Pierce Dash 85 Foot Aerial Ladder Truck, Job Number - 12139TR, VIN Number - 4P1CT02S61A001319 (the "Apparatus"); WHEREAS, GEFPD desires to lease the Apparatus from the Town; and WHEREAS, the Parties desire to enter into a lease of the Apparatus, subject to the terms of this Lease. NOW THEREFORE, in consideration of the mutual promises contained herein, the adequacy and receipt of which are hereby acknowledged, the Parties agree as follows: 1.Lease of Apparatus. The Town hereby agrees to lease to GEFPD the Apparatus, and GEFPD agrees to accept the Apparatus for such lease in its "as is" condition. 32.Term and Termination. The term of this Lease shall commence on the Effective Date and shall extend for a period of 24 months. Either Party may terminate this Lease upon 24 hours' prior written notice. Upon termination of the Lease, GEFPD shall return the Apparatus to the Town. 4.Use. GEFPD shall use the Apparatus to respond to emergencies related to GEFPD’s duties and responsibilities, except for fire alarms, motor vehicle accidents, or medical calls. The Town shall provide GEFPD training on proper operation of the Apparatus. 5.Maintenance. The Town represents that the Apparatus, at the time of execution of this Lease, is in good and safe working order. During the term of this Lease, GEFPD agrees to all of the following: a.GEFPD shall, at its own cost and expense, maintain the Apparatus in good working condition and repair. Routine maintenance shall be the responsibility of GEFPD in accordance with the schedule established by the Town's Fleet Maintenance Manager. The Town shall provide the schedule to GEFPD. b.GEFPD shall be responsible for any repairs in connection with GEFPD’s use and operation of the Apparatus. 71 2 3/12/2025 C:\USERS\EASYPD~1\APPDATA\LOCAL\TEMP\BCL TECHNOLOGIES\EASYPDF 8\@BCL@DC098436\@BCL@DC098436.DOCX c.GEFPD shall provide to the Town a detailed log of all maintenance and repair procedures done to the Apparatus. d.Any repairs to the Apparatus shall be conducted by mechanics approved by the Town's Fleet Maintenance Manager. This provision shall not apply to the replacement of lightbulbs or any other preventative maintenance. e.GEFPD shall provide to the Town's Fleet Maintenance Manager all receipts for any parts ordered for the Apparatus upon request. f.GEFPD shall conduct daily, monthly, and yearly checks on the Apparatus as required by the maintenance and user manual. These checks shall be documented in a form approved by the Town's Fleet Maintenance Manager. g.GEFPD shall be responsible for annual aerial and pump testing for the Apparatus. Such testing shall be conducted by a Town-approved third-party testing organization and shall be completed within a reasonable timeframe established by the Town's Fleet Maintenance Manager. h.The five-inch supply hose shall always remain on the Apparatus. GEFPD shall be solely responsible for the cost of annual supply hose testing and for the repair and replacement of the supply i.GEFPD shall at all times maintain an inventory of all equipment on the Apparatus. If any tool or piece of equipment is lost or broken due to the actions of GEFPD, GEFPD shall repair or replace any lost or damaged tool or equipment that belongs to the Town. The Town shall provide a complete itemized inventory of all equipment on the Apparatus upon the Effective Date. 6.Insurance. a.Throughout the term of this Lease, GEFPD shall procure and maintain, at its own cost, a policy or policies of insurance sufficient to insure against all liability, claims, demands, and other obligations assumed by GEFPD pursuant to this Lease. At a minimum, GEFPD shall procure and maintain the insurance coverages listed herein, with forms and insurers acceptable to the Town. i.General Liability insurance with a minimum combined single limit of $1,000,000 each occurrence and $2,000,000 general aggregate. The policy shall include coverage for bodily injury, broad form property damage, personal injury (including coverage for contractual and employee acts), blanket contractual, products, and completed operations. The policy shall contain a severability of interests provision, and shall include the Town and the Town's officers, employees, and contractors as additional insureds. No additional insured endorsement shall contain any exclusion for bodily injury or property damage arising from completed operations. 72 3 3/12/2025 C:\USERS\EASYPD~1\APPDATA\LOCAL\TEMP\BCL TECHNOLOGIES\EASYPDF 8\@BCL@DC098436\@BCL@DC098436.DOCX ii.Such insurance shall be in addition to any other insurance requirements imposed by law. The coverage afforded under the policies shall not be canceled, terminated or materially changed without at least 30 days prior written notice to the Town. GEFPD shall be solely responsible for any deductible losses under any policy. iii.Workers' compensation insurance covering all employees, in the amounts required by law. b.GEFPD shall provide to the Town a certificate of insurance as evidence that the required policies are in full force and effect. The certificate shall identify this Lease. 7.Damage to Apparatus. GEFPD shall be responsible for any and all property damage, excluding reasonable wear and tear, that occurs while GEFPD has possession of the Apparatus. 8.Miscellaneous. a.Governing Law and Venue. This Lease shall be governed and construed in accordance with the laws of the State of Colorado, and any legal action arising out of this Lease shall be brought in Eagle County, Colorado. b.Assignment. Neither this Lease nor any of the rights or obligations of the Parties shall be assigned by either Party without the written consent of the other. c.Severability. If any provision of this Lease is determined to be void by a court of competent jurisdiction, such determination shall not affect any other provision hereof, and all of the other provisions shall remain in full force and effect. d.Integration. This Lease constitutes the entire agreement between the Parties, superseding all prior oral or written communications. e.No Waiver. A failure of a Party to enforce any term of this Lease shall not be deemed to be a waiver of any other term of this Lease. f.Notice. Any notice under this Lease shall be in writing and shall be deemed sufficient when directly presented or sent pre-paid, first-class United States Mail to the other Party at the address set forth on the first page of this Lease. g.Modification. This Lease may only be modified upon written agreement of the Parties. h.No Third-Party Beneficiaries. No third party is intended to or shall be a beneficiary of this Lease, nor shall any third party have any rights to enforce this Lease in any respect. 73 4 3/12/2025 C:\USERS\EASYPD~1\APPDATA\LOCAL\TEMP\BCL TECHNOLOGIES\EASYPDF 8\@BCL@DC098436\@BCL@DC098436.DOCX i.No Joint Venture or Partnership. No form of joint venture or partnership exists between the Parties, and nothing contained in this Lease shall be construed as making the Parties joint venturers or partners. j.Governmental Immunity. Nothing herein shall be construed as a waiver of any protections or immunities that the Town may have under the Colorado Governmental Immunity Act, C.R.S. § 24-10-101, et seq., as amended. k.Contingency; No Debt. Pursuant to Article X, § 20 of the Colorado Constitution, any financial obligation of the Parties under this Lease is specifically contingent upon annual appropriation of funds sufficient to perform such obligation. This Lease shall never constitute a debt or obligation of the Parties within any statutory or constitutional provision. l.Force Majeure. Neither Party shall be in breach of this Lease if a failure to perform any of the duties under this Lease is due to Force Majeure, which shall be defined as the inability to undertake or perform any of the duties under this Lease due to acts of God, floods, storms, fires, sabotage, terrorist attack, strikes, riots, war, labor disputes, forces of nature, pandemics or the authority and orders of government. IN WITNESS WHEREOF, the Parties have executed this Lease as of the Effective Date. TOWN OF VAIL, COLORADO ________________________________ Russell Forrest, Town Manager ATTEST: ______________________________ Stephanie Kauffman, Town Clerk LESSEE By: ________________________________ Greater Eagle Fire Protection District STATE OF COLORADO ) ) ss. COUNTY OF ) Subscribed, sworn to and acknowledged before me this ___ day of __________, 2025, by _______________________. My commission expires: (S E A L)________________________________ 74 5 3/12/2025 C:\USERS\EASYPD~1\APPDATA\LOCAL\TEMP\BCL TECHNOLOGIES\EASYPDF 8\@BCL@DC098436\@BCL@DC098436.DOCX Notary Public 75 AGENDA ITEM NO. 5.4 Item Cover Page DATE:March 18, 2025 SUBMITTED BY:Steph Johnson, Town Manager ITEM TYPE:Agreement AGENDA SECTION:Consent Agenda (6:15pm) SUBJECT:Contract Award with Superlative for Naming and Sponsorship Rights SUGGESTED ACTION:Authorize the Town Manager to enter into an agreement, in a form approved by the Town Attorney, with Superlative for naming and sponsorship rights. VAIL TOWN COUNCIL AGENDA ITEM REPORT ATTACHMENTS: Council Memo - Naming Rights 76 TO:Vail Town Council FROM:Town Manager’s Office DATE:March 18, 2025 SUBJECT: Naming Rights / Sponsorship Contract I.SUMMARY Staff is requesting Town Council authorize the Town Manager to enter into a contract with Superlative in a form approved by the Town Attorney based on the terms outlined below. II.BACKGROUND In December, Town Council authorized the Town Manager to issue an RFP for Sponsorship and Naming Rights consulting services with the intent to learn about possible funding opportunities for Dobson Arena’s $56M redevelopment scheduled to begin this Spring and future opportunities with other town owned assets. The town received six responses from nationwide firms specializing in this area. An internal group of town staff including the Town Manager, Deputy Town Manager, Director of Public Works and Director of Economic Development and Tourism interviewed and checked references on three finalists and recommended Superlative as our partner. On March 4, Town Council agreed with that selection, and gave staff direction on proposed deal points. Staff has negotiated with Superlative based on Council’s input, although agreement wording is still being finalized. III.ACTION REQUESTED OF COUNCIL Staff is asking for Council’s authorization during this evening’s consent agenda for the Town Manager to execute a contract in a form approved by the Town Attorney based on the terms above. 77 AGENDA ITEM NO. 5.5 Item Cover Page DATE:March 18, 2025 SUBMITTED BY:Greg Hall, Public Works ITEM TYPE:Agreement AGENDA SECTION:Consent Agenda (6:15pm) SUBJECT:Contract Award to STRUCTURAL for Vail Village and Lionshead Parking Structures Repairs SUGGESTED ACTION:Authorize the Town Manager to enter into an agreement, in a form approved by the Town Attorney, with STRUCTURAL for the Vail Village and Lionshead Parking Structures Repairs, in an amount not to exceed $978,729.00. VAIL TOWN COUNCIL AGENDA ITEM REPORT ATTACHMENTS: Council Memo - Parking Structure Repairs 78 To:Town Council From:Public Works Department Date:March 18, 2025 Subject:Contract Award for Structural Repairs to Lionshead and Vail Village Parking Structures I.SUMMARY The purpose of this item is to award a contract to STRUCTUAL, previously Restruction Corporation to perform construction services for structural repairs to the Lionshead and Vail Village Structures in an amount of $ 978,729.00 II.BACKGROUND The Town of Vail has completed a structural assessment of the two parking structures by JR Harris. On March 4, 2025, the town council authorized negotiation with Restruction Corporation now STRUCTURAL, for the completion of needed structural repair in the Lionshead and Village parking structures. Pricing has been received to complete the scope most needed as identified by the project structural engineer, J.R. Harris. Staff is now requesting that the council approve entering a contract with STRUCTURAL for the performance of the work. III.ACTION REQUESTED Authorize the Town Manager to enter into a contract in a form approved by the Town Attorney with STRUCTURAL in an amount not to exceed $978,729.00 for the structural repair to Lionshead and Vail Village Structures 79 AGENDA ITEM NO. 6.1 Item Cover Page DATE:March 18, 2025 TIME:90 min. SUBMITTED BY:Greg Hall, Public Works ITEM TYPE:Presentation/Discussion AGENDA SECTION:Presentation/Discussion (6:15pm) SUBJECT:Summer Managed Parking Discussion (6:15pm) SUGGESTED ACTION:Provide direction to staff for next steps. PRESENTER(S):Greg Hall, Public Works Director and Stephanie Kashiwa, Parking Manager VAIL TOWN COUNCIL AGENDA ITEM REPORT ATTACHMENTS: Council Memo - Summer Managed Parking Staff Presentation - Summer 2025 Parking Program 80 TO:Vail Town Council FROM:Parking and Transportation Task Force Public Works Department DATE:March 18, 2025 SUBJECT: Parking and Mobility Task Force Recommended Summer 2025 Parking Program I.SUMMARY The purpose of this discussion is to share the Parking and Mobility Task Force recommendation for a Summer 2025 Parking Program with Town Council and request feedback to allow the Staff and Task Force to return April 1, 2025, for a decision for implementation this summer. II.BACKGROUND The Parking and Mobility Task force met January 16th to review issues regarding summer parking as well as an overview of the structural assessment costs needed to keep the structures in a maintained state. On February 4, 2025, the Town Council visited the Vail Village Structure, and during the Council meeting reviewed a structural assessment. The assessment included an overview of additional capital funds needed annually to keep the structures in a maintained state and the structure stable before a major rehabilitation can be performed to extend the useful life of the structures. The assessment shows a need for about $12.6 million in repairs over the next 10 years, as well as an increase in annual maintenance budget to keep our aging parking structures in use. When considering engineering costs and construction administration and escalation compared to the approved 5-year capital budget it is a shortfall of $10,466,000 in the first 5 years or around $2.0M per year additional and increasing to $2.5 M per year in the following 5 years. Based on this critical need, in concert with achieving Council’s Strategic Goals, Town Council directed the Parking and Mobility Task Force to provide a recommendation on a management program for Summer 2025 while considering the following: Consider a solution for employees, especially originating from down valley. Consider the value of both guests and locals spending their money and time in Vail. Allow for more data collection. Consider options that align with our current pass offerings. Allow for people to ‘linger’ in the summer. Communication to and input from locals/local businesses will be important. Keep it simple. ‘Walk before we run’. 81 Town of Vail Page 2 The Town staff later met with the Vail Economic Advisory Council on February 11th to gather additional input regarding a summer program. Feedback included finding solutions for user groups (employees, Vail locals, Eagle County locals, businesses, and guests), a simple program that allows for collection of data to make data driven decisions, importance of communicating the changes to user groups, and how to encourage lingering in town. The Parking & Mobility Task Force (P&MTF) met on February 20th and March 3rd, to review direction from Council for a summer managed parking program, review statistics from previous summer and winter seasons to understand parking and mobility usage, and to develop a recommendation for the Summer 2025 Parking Program. The goals of a managed parking program in the summer season: 1). Support the Town Council Strategic Plan Reduce the percentage of vehicles parking that originate from Eagle County (outside of Vail) from 40% to 30% Reduce the percentage of vehicles parking that originate from Vail from ~32% to 20% Reduce 2014 baseline carbon emissions by 25% by 2025, 50% by 2030 and 80% by 2050 2). Address the significant need for capital repairs in the 45 and 50 year old structures. Additional revenue is necessary for the capital repairs and routine maintenance needed for our parking facilities and transit facilities. 3). Provide additional data collection on parking and mobility. Additional data could be collected to understand the needs and use during summer seasons; information such as parking pass use or outlier lot use is currently lacking. The benefit of increased and more robust data collection with the introduction of retail rates and pass use were acknowledged to better track progress towards these goals as well as to make data driven decisions for future programs. 4). Support and promote alternative modes of transportation from new revenue stream. Implementing a paid parking rate would act as a deterrent to driving, helping to reduce our GHG emissions and meet the Town Council’s goals. There are future considerations regarding enhanced transit in winter and summer in regard to serving new housing coming online, enhancements of the parking experience as well as additional mobility options which are wants over needs but will require additional funding. 5). Provide management tools to address parking demand. Implementing a paid 82 Town of Vail Page 3 parking rate would be used to manage parking demand. The parking demand in the summer differs from the winter demand in that it is more predictable. Special events and closures for major capital repair could cause high demand during the summer season. Construction and maintenance projects also have a large influence on parking inventory and demand during the summer season. For example, over the past 20 years the town has experienced on two separate occasions, 2-3 years of significant construction activity which greatly impacted parking. With upcoming projects, the town is about to enter another period of increased construction activity which will have an impact on parking availability. Concerns with implementing a managed parking program in the summer include: Providing options for our economic drivers Concerns with the effect on business activity, special events and sales tax if there is a paid parking fee. Concerns with a negative impact on employees and employee retention. There is less data to base decisions on for summer parking management than the winter season. There is minimal pass use, Ford Park lot use, and Vail Athletic Fields lot use data. Operational challenges include messaging and outreach to the community; creating a simple rate structure and pass offerings that would complement winter operations and achieve goals; staffing needs; long term storage of vehicles; additional transit service III.DISCUSSION The P&MTF reviewed the Town’s costs and revenues regarding both parking and transit, as well future costs associated with both a summer managed parking program and possible revenue scenarios. The objective is to be ‘revenue neutral’ in that the revenue brought in will cover expenses for parking and transit operations, capital maintenance and repair projects, annual maintenance projects, and support mobility programs. The P&MTF also reviewed the use of the parking areas in the summer season, as well as considerations for the user groups’ needs. The necessity for a simple rate and pass structure that compliments the winter program while understanding the uniqueness of the summer program was identified and discussed. A few areas of focus were to encourage lingering both for guests and locals, ensure employees have options like the winter program, and to base recommendations on data from previous summer seasons. The P&MTF was very concerned with the significant capital needs of the parking structures, and agreed it will be important to communicate that effectively with the community when announcing a summer parking program. 83 Town of Vail Page 4 Managing demand was another point of discussion. Due to a lack of data during summers, the group agreed this first summer should prioritize data gathering over revenue collection. Data that was reviewed from the 2024 summer season included: o Summer overnight rate fees and usage. Vail Village & Lionshead averaged 122 vehicles overnight with heavier use in Vail Village. This brought in about $565,000 of revenue. Red Sandstone averaged 10 vehicles overnight and brought in $38,000 of revenue. o Frontage Road overflow days and structure fills are shown to be more predictable than winter occurrences. 5 overflow parking/road days o 57 paid parking events occurred in Ford Park and Soccer/VAF lots, these are usually amphitheater events. 35 managed parking events in these lots which are usually sporting events. A total of 92 out of 129 days either paid or managed. o 529,068 transactions over 129 days. This does not include Ford Park or Soccer/VAF lots unless there was paid event parking. This averages to 4,101 transactions a day. Winter 2023-24 averaged 4,153 transactions a day making the volume of parking similar over the seasons. o Vail Village makes up about 51% of recorded transactions. o The 2024 summer season was compared to previous summer season where the Town saw large construction projects such as the hospital. These summer seasons had an increase in transactions and a large increase in the number of structure fills. Overflow parking days increased to 17 in 2018 and 14 in 2019. o Day of the week usage does show an increase on the weekends, especially Sundays. Because overflow parking needs are more predictable and less frequent in the summer, the P&MTF recommends not having different rates for differing days of the week. One retail rate structure all summer. o Pass use for the winter 2023-24 season was 20% of transactions, and 29% for the current season. This information was used to assume 25% transactions use for the upcoming summer season to predict revenue of different retail and pass rates that were considered. The dates of the season were discussed. Previous seasons had a start of the Friday before Memorial Day and continued through the end of September or early October. It is recommended that the start is a week later this year than previously due to an earlier Memorial Day and the activity in town for Memorial Day weekend seems to be varied and related to weather. The end date is recommended to stay consistent from previous years. The last weekend in September. There are events such as concerts and farmers’ markets that proceed and extend past these dates, but the Task Force felt the shortened summer season from 129 days to 122 days would be beneficial. The P&MTF ultimately recommends a start date of Friday, May 30 and an end date of Sunday, September 28. 84 Town of Vail Page 5 Parking Rates were discussed at length. Different renditions of both an hourly rate and a flat daily rate were considered. The recommendations come from considerations of creating rates that will provide data collection, promote lingering, aid in funding the needed maintenance and repair on the structures, could be scalable for future seasons, and provide a simple structure that compliments the winter parking program. o When considering the use of the parking areas, summer operations see an increase in the Ford Park and Soccer/VAF usage. The need to provide access to park amenities, but also to ensure parking inventory for events steered the P&MTF to recommend the same rate for the main structures as these lots. o The P&MTF also saw opportunity to provide a more economical fee structure at the Red Sandstone garage. This could benefit both pass holders as well as gusts looking for a bargain. o An hourly rate is recommended by the P&MTF in all but Red Sandstone to provide a simple rate structure that considers the duration and turnover we see in the summer season. More than 50% of the transactions in the main structures have a duration of 3 hours or less. The hourly rate addresses the issue of price sensitivity for these shorter stays, but also addresses the goal to promote lingering, by having an upper day limit. The P&MTF reviewed options of differing free periods. They recommend continuing the ‘FREE after 3’ period where if someone enters after 3p.m., there is no fee until 4a.m. They also recommend a ‘first hour FREE’ for retail rates to mimic the winter program and keeping in mind the high percentage of transactions occurring in the first 3 hours. A two-hour free period before the daily rate at Red Sandstone was recommended to mimic the winter rates and acknowledge the location. The P&MTF recommends the max daily retail rate of $10 for all but the Red Sandstone garage, which they recommend a max daily rate of $5. There was a consensus that the current overnight rates are low compared to market and have potential to be raised to better reflect hotel parking rates. In meeting with the Vail Economic Advisory Council, it was recommended they should be the same as winter. In the first meeting of the Task Force where more members were present, there was consensus to raise the rates to match winter to have a consistent rate year-round. However, during the follow up meeting there was a mix of thoughts to not to change too much. This change does not affect the majority of users and could encourage guests to use the various alternate means to get to Vail similar to our winter guests and encourage carpooling to come into the Villages when using a STR due to limited parking availability at the accommodation. The other issue was each increase of $5 in overnight fee generated nearly $60K in revenue, which was something they considered. Despite this, the P&MTF recommends keeping the overnight rate the same as last summer in the structures and garages, with no overnight 85 Town of Vail Page 6 parking in the Ford Park and Soccer/VAF lots. This was largely due to the direction by council to ‘walk before running’. The day rates begin to address the funding for maintenance, as well as allow for the collection of data before other decisions are made in relation to the summer parking program. After the meeting staff reviewed the parking data of employee plus pass use both last summer and this winter. It allowed overnight parking in both Lionshead and Red Sandstone with limited parking in Vail Village. There is a use pattern near three housing projects with minimal parking provided: First Chair, Solar Vail and now Residence of Main Vail. The completion of Timber Ridge in 2026 and possibly West Middle Creek would increase the potential need for resident parking. The public parking structures were not intended to be the fall back or discounted parking storage for these developments. Staff would recommend this situation continue to be monitored and adjustments may need to be made to the overnight privilege of the employee plus pass and overnight rates. The Ford Park and Soccer/VAF stand out in their change of use from season to season. These lots are used for event parking as well as event staging which makes them more suited to pricing similar to the structures with a shift to Lionshead and Red Sandstone as lots catering more towards employee and employee+ pass use. Ford Park parking lot is considered prime parking for the activities taking place there. The Ford Park and Soccer/VAF lots require turnover due to the paid event parking. The P&MTF also recommends the event parking rate be raised from $15 to $20 due to the high demand for these lots during the events. The Task Force recommends that all purchased winter parking passes be able to be used this summer. The Task Force also recommended that the existing Vail and Eagle County local pass be extended.There was strong agreement that these passes should not be granted free parking but a similar discount program as in winter. The discounts granted with the Local Pass are 2 hours free and 50% off the retail rates. Based on the above recommendations, please see the below Parking Rates: 86 Town of Vail Page 7 Existing Vail Village Structure Lionshead Structure Red Sandstone Garage Ford Park Lot Soccer/VAF Lot Overnight Rate: $35 (4a.m. - 5a.m.) $60 winter Overnight Rate: $35 (4a.m. - 5a.m.) $60 winter Overnight Rate: $15 (4a.m. - 5a.m.) $35 winter Event Parking Rate: $15 at entry Carpool Program: FREE for 4+ Event Parking Rate: $15 at entry Carpool Program: FREE for 4+ Proposed Retail Rate Vail Village Structure Lionshead Structure Red Sandstone Garage Ford Park Lot Soccer/VAF Lot 1 hour FREE $2/hour, Max $10 FREE if entering after 3p.m. until 4a.m. Overnight Rate: $35 (4a.m.- 5a.m.) 1 hour FREE $2/hour, Max $10 FREE if entering after 3p.m. until 4a.m. Overnight Rate: $35 (4a.m.- 5a.m.) 2 hours FREE $5/day Overnight Rate: $15 (4a.m.- 5a.m.) 1 hour FREE $2/hour, Max $10 Event Parking Rate: $20 at entry Carpool Program: FREE for 4+ 1 hour FREE $2/hour, Max $10 Event Parking Rate: $20 at entry Carpool Program: FREE for 4+ Discount Local Pass Rate Vail Village Structure Lionshead Structure Red Sandstone Garage Ford Park Lot Soccer/VAF Lot 2 hours FREE $1/hour, Max $5 FREE if entering after 3p.m. until 4a.m. Overnight Rate: $35 (4a.m.- 5a.m.) 2 hours FREE $1/hour, Max $5 FREE if entering after 3p.m. until 4a.m. Overnight Rate: $35 (4a.m.- 5a.m.) 2 hours FREE $5/day Overnight Rate: $15 (4a.m.- 5a.m.) 2 hours FREE $1/hour, Max $5 Event Parking Rate: $20 at entry Carpool Program: FREE for 4+ 2 hours FREE $1/hour, Max $5 Event Parking Rate: $20 at entry Carpool Program: FREE for 4+ 87 Town of Vail Page 8 Pass Access & Rate Vail Village Structure Lionshead Structure Red Sandstone Garage Ford Park Lot Soccer/VA F Lot Premier FREE access FREE access FREE access FREE access FREE access Vail Village Business Premier FREE access X X X X Lionshead Business Premier X FREE access X X X Employee Plus Pass FREE day access Overnight rate FREE access FREE access FREE access FREE access Employee Pass Discount Pass Rate FREE day access Retail Overnight Rate FREE day access Retail Overnight Rate Discount Pass Rate Discount Pass Rate Eagle County & Vail Local Pass Discount Pass Rate Discount Pass Rate Discount Pass Rate Discount Pass Rate Discount Pass Rate Recommended Parking Pass Purchase Price Winter Summer Premier $5,500 Premier (Condo)$1,220 Business Premier $2,200 Business Premier $ 500 Employee +$1,850 Employee +$ 450 Employee $ 425 Employee $ 150 Eagle County Local $ 50 Eagle County Local $ 50 Vail Local $ 25 Vail Local $ 25 88 Town of Vail Page 9 Depending on whether the Employee Plus is permitted with overnight privileges, there may not be a need to have a summer employee plus for sale, or if allowed there is no need for a Business Premier as there is no additional benefit. Estimated Revenue Using the proposed parking rates as well as assumptions that use patterns match previous summers, and pass usage was approximately 25 % of transactions (similar to the past two winters), the potential revenue is projected at: Retail rate (daily transactions) revenue $1,300,000 Daily transactions from discounted passholders $ 200,000 Pass sales (expect minimal)$ 25,000 Event parking (rate increase)$ 20,000 Ford Park daily rate estimate $ 15,000 Total $1,560,000 If summer overnight rates were the same as winter overnight rates, it may generate another $300,000. This was discussed by the task force but not included in recommendations. Estimated Cost The implementation of the summer managed parking program would be an increase of $100,000 for parking operations, pass sales personnel, enforcement and communication plan. The introduction of summer managed parking should be complimented with an increase in summer transit service to meet an increased demand as well as provide more frequent service to outlying areas. The staff recommends increased service levels similar to the early winter service which takes place in the beginning of ski season. This would be slightly modified to fold the hiker express into the East Vail service. This will provide additional transit service and frequency to the parking spots in West Vail. The parking in West Vail would remain free besides overnight oversized vehicles. The cost of the increased bus service to an early winter service schedule for the entire summer is nearly $500,000. A portion of this cost is conversion of seasonal employees to full time employees, as they would be working both winter and summer. Even though this is a cost, the benefit of recruiting fewer seasonal drivers each winter. Seasonal bus driver recruitment over the years has been challenging as time has gone on. 89 Town of Vail Page 10 Summary of Additional Cost Parking Operations & Communications $ 100,000 Enhanced Summer Transit Service $ 500,000 Increased capital maintenance $2,000,000 Total $2,600,000 IV.ACTION REQUESTED OF COUNCIL Staff is requesting Town Council’s direction on the summer parking program recommendations of the Parking and Mobility Task Force. Staff will return on April 1 for a final decision from Council for the Summer 2025 Parking Program. V.Attachment (Presentation) 90 Parking & Mobility Task Force Recommendation for Summer 2025 Parking Program March 18th, 2025 –Town Council Meeting 91 Purpose •Provide background and considerations for a summer managed parking program. •Provide Town Council with the Parking & Mobility Task Force’s recommendations for the 2025 Summer Parking Program. •Request Town Council provide feedback on the recommendations to allow staff and the Task Force to return April 1, 2025 for a decision regarding the summer program. 92 Goals & Purpose •Fund capital repair and maintenance costs for our parking structures to ensure longevity of use. •Fund our ‘revenue neutral’ parking & transit operations as well support and promote programs for alternative modes of transportation. •Implement management tools for parking demand from upcoming construction and maintenance projects. •Support the Town Council Strategic Plan. 93 Capital Repairs & Maintenance •Our structures are about 50 years old. •The structural assessment indicates the need for additional and increased ongoing capital funds to extend the useful life of the structures. •$10.47M additional needed over current budgets •$2-2.5M annual ongoing •There are multiple opportunities: •summer and winter retail rates •Summer identified as a ‘low hanging fruit’ •overnight parking fees •shifting free periods •parking pass fees & discounts 94 Identified Revenue Opportunities Summer Retail Rates : ~529,000 transactions, ~506,500 free transactions →96% •1 Hour Free : VV & LH, ~492,600 transactions, ~77,800 transactions would be free →16% •Free After 3 : VV & LH, ~492,600 transactions, ~167,200 transactions would be free →34% •Event Parking : 56 paid events @ $15, 35 non-paid events •Overnight Parking Rates : ~12,900 transaction @ $35, ~2,200 Transactions @ $15 Summer Discount Rates : ? •Parking Pass Purchase Fees : ? Winter Retail Rates : ~683,000 transactions •Free After 3, Winter : VV & LH, ~458,600 transactions, ~205,800 enter after 3pm →45% •Overnight Parking Rates : VV & LH, ~10800 transactions @ $60 •Event Parking : ? Winter Discount Rates : ~140,000 transactions →20% for 23’-24’ & ~117,400 transactions to date →29% for 24’-25’ •Parking Pass Purchase Fees : ~4,400 passes sold, ~$1,212,800 Reduce Operational Costs : Efficiencies in staffing, equipment cost/maintenance/repair Off Season Rates : ~12 weeks 95 ‘Revenue Neutral’ Parking & Transit Operations Current Revenue: Parking Ops $9.5M & Lift Tax $6.9M Current Operational Cost – ‘Must Maintain’ Needed Operational Costs –‘Must Have’ Additional Operational Costs – ‘Nice to Have’ Annual Parking Operations $5,600,000 Additional Parking Operations $100,000 •CEO Support Staff •Parking Sales Support Staff •UBI Costs (Pass software, cost share) •Communications Plan Enhanced Parking Structures & Equipment $750,000 Transit Operations $7,900,000 Enhanced Summer Transit $500,000 •Additional Staff Additional Enhanced Summer Transit $2,000,000 Annual Parking Capital Maintenance $1,510,000 Capital Maintenance Costs $2,000,000 Enhanced Mobility Options $500,000 Transit Capital $3,000,000 96 Demand Management System A summer parking program complimentary of the winter program provides tools to address demand events and provide data. •Event parking •Events: 57 paid events, 35 managed events •Demand caused by anticipated construction projects •Summer 2018 →17 overflow parking days •Summer 2019 →14 overflow parking days •Compared to 2024 at 5 overflow parking days •Reduced parking inventory from closures for major capital repairs •Collecting additional use data 97 Town Council Strategic Plan •Reduce the percentage of vehicles parking that originate from Eagle County (outside of Vail) from 40% to 30% •Reduce the percentage of vehicles parking that originate from Vail from ~32% to 20% •Reduce 2014 baseline carbon emissions by 25% by 2025, 50% by 2030, and 80% by 2050. 98 Summer 2024 Program Review & Data •Current summer paid parking: Overnight & Ford events •129-day season: Friday before Memorial Day through the end of September •Events: 57 paid events, 35 managed events •Ford & Soccer/VAF are reserved for event staging and/or have high demand for event parking •Vail Transit and CORE Transit saw increased use 99 Summer 2024 Program Review & Data •529,068 recorded transactions, 129 days •Avg. 4,101 transactions/day •Winter 2023-24 averaged 4,153 transactions/day •Over 50% of transactions have a duration less than 3 hours in the main structures. •Vail Village 52%of transactions •Lionshead 31% of transactions •Red Sandstone 2% of transactions •Increase in parking demand on weekends, especially Sundays.100 Direction from Council to P&MTF in Considering the Summer Parking Program •Consider solutions for user groups •Employee, Vail Local, Eagle County Local, Businesses, & Guests •Data collection to help in future decision making •Importance of communicating changes •Simple •Encourage lingering in town •‘Walk before you run’ 101 Task Force Specific Considerations •Hourly vs.flat rates •Focus on rates that would: •Provide data collection •Promote lingering •Aid in funding capital maintenance and repair needs for the structures •Be scalable for the future seasons •Provide a simple rate structure that compliments the winter program •Duration of stay and turnover in summer •Address price sensitivity for these shorter stays and promote lingering by having a daily max rate 102 Task Force Specific Considerations •Encouraged pass use will provide desired data •Early and late summer season activity in town seems to be varied and weather dependent •Shift in demand for certain lots from winter to summer •Ford Park and Soccer lots see high demand and a need for turnover to support park amenities and events 103 Task Force Specific Considerations •Free periods •Guest experience and transaction duration •Mimic winter rates •Consider the high percentage of transactions occurring under 3 hours •Max daily rates were reviewed •Considered difference of winter and summer experience •Demand shifts in parking areas •Price sensitivity and behavior modification 104 Task Force Specific Considerations •Overnight rates •Not consistent with winter rates or market rate •Consideration that every $5 raised brings $60k of revenue •‘Walk before we run’ •Housing projects with limited parking inventory •Event rates •High demand for event parking •Need to encourage turnover to free up parking inventory for event parking 105 Additional Costs Enhanced Funding Capital Costs $2.0M Implementation •Parking ops, pass sales, enforcement, & communications plan $100K Increased Bus Service •Similar to early winter service •Conversion of seasonals to FTE •Benefits recruitment efforts $500K Retail Rates $1.3M Discount Pass Rates $200K Pass Sales $25K Event $20K Overnight, winter rate *not recommended $300K 106 Recommendations - Summer 2025 Recommended Dates: •Friday, May 30th – Sunday, September 28th (122 days) Recommended Rates and Locations: •Retail Rate Vail Village Structure Lionshead Structure Red Sandstone Garage For Park Lot Soccer/VAF Lot 1 hour FREE $2/hour, Max $10 FREE if entering after 3p.m. until 4a.m. Overnight Rate: $35 (4a.m.-5a.m.) 1 hour FREE $2/hour, Max $10 FREE if entering after 3p.m. until 4a.m. Overnight Rate: $35 (4a.m.-5a.m.) 2 hours FREE $5/day Overnight Rate: $15 (4a.m.-5a.m.) 1 hour FREE $2/hour, Max $10 Event Parking Rate: $20 at entry Carpool Program: FREE for 4+ 1 hour FREE $2/hour, Max $10 Event Parking Rate: $20 at entry Carpool Program: FREE for 4+ 107 Recommendations – Summer 2025 •Discount Local Pass Rates Vail Village Structure Lionshead Structure Red Sandstone Garage Ford Park Lot Soccer/VAF Lot 2 hours FREE $1/hour, Max $5 FREE if entering after 3p.m. until 4a.m. Overnight Rate: $35 (4a.m.-5a.m.) 2 hours FREE $1/hour, Max $5 FREE if entering after 3p.m. until 4a.m. Overnight Rate: $35 (4a.m.-5a.m.) 2 hours FREE $5/day Overnight Rate: $15 (4a.m.-5a.m.) 2 hours FREE $1/hour, Max $5 Event Parking Rate: $20 at entry Carpool Program: FREE for 4+ 2 hours FREE $1/hour, Max $5 Event Parking Rate: $20 at entry Carpool Program: FREE for 4+ 108 Recommendations – Summer 2025 •Pass Access & Rates Vail Village Structure Lionshead Structure Red Sandstone Garage Ford Park Lot Soccer/VAF Lot Premier FREE access FREE access FREE access FREE access FREE access Vail Village Business Premier FREE access X X X X Lionshead Business Premier X FREE access X X X Employee Plus Pass FREE day access Overnight rate FREE access FREE access FREE access FREE access Employee Pass Discount Pass Rate (Free Day Access with Overnight Rate) FREE day access Retail Overnight Rate FREE day access Retail Overnight Rate Discount Pass Rate Discount Pass Rate Eagle County & Vail Local Pass Discount Pass Rate Discount Pass Rate Discount Pass Rate Discount Pass Rate Discount Pass Rate 109 Recommendations – Summer 2025 •Extend use of all parking passes purchased in the winter 2024-25 season as no additional initiation fee. Summer pass rates and access apply. •Parking Pass Purchase Price Premier $1,220 Business Premier $500 Employee Plus $450 Employee $150 Eagle County Local $50 Vail Local $25 110 Staff Recommendation Town Council provide direction on the recommended parking program of the Parking and Mobility Task Force recommendations and return on April 1 for a final decision for the Summer 2025 Parking Program. 111 AGENDA ITEM NO. 7.1 Item Cover Page DATE:March 18, 2025 TIME:5 min. SUBMITTED BY:Matt Gennett, Community Development ITEM TYPE:Resolution AGENDA SECTION:Action Items (7:45pm) SUBJECT:Resolution No. 13, Series of 2025, A Resolution of the Vail Town Council Making Findings on the Appeal of Case B25-0412, Concerning a Building Permit Application for 3070 Booth Creek Drive, Vail, Colorado, and Affirming the Decision of the Building Official (7:45pm) SUGGESTED ACTION:Approve Resolution No. 13, Series of 2025, and read findings into the record. PRESENTER(S):Barry Davis, Mayor Pro Tem VAIL TOWN COUNCIL AGENDA ITEM REPORT ATTACHMENTS: Resolution No. 13 - Making Findings on Appeal 112 1 3/12/2025 C:\USERS\EASYPD~1\APPDATA\LOCAL\TEMP\BCL TECHNOLOGIES\EASYPDF 8\@BCL@840770CE\@BCL@840770CE.DOCX RESOLUTION NO. 13 Series of 2025 A RESOLUTION OF THE VAIL TOWN COUNCIL MAKING FINDINGS ON THE APPEAL OF CASE B24-0412, CONCERNING A BUILDING PERMIT APPLICATION FOR 3070 BOOTH CREEK DRIVE, VAIL, COLORADO, AND AFFIRMING THE DECISION OF THE BUILDING OFFICIAL WHEREAS, the Reggie D. Delponte Residence Trust 1 and Reggie D. Delponte Trust 2 (collectively the "Appellant") own the real property located at 3070 Booth Creek Drive, Vail, CO, more particularly described as Lot 7, Block 3, Vail Village Filing No. 11, Vail, CO (the "Property"); WHEREAS, the Appellant requested a building permit for an addition to the residence on the Property, in case #B24-0412 (the "Application"); WHEREAS, on December 4, 2024, the Town's Building Official denied the Application; WHEREAS, on December 18, 2024, the Appellant filed an appeal of the Building Official's decision, which appeal is governed by § 10-1-13 of the Vail Town Code; WHEREAS, on March 4, 2025, the Town Council held a properly-noticed hearing on the appeal, and the Appellant was provided with an opportunity to present evidence in support of its appeal; and WHEREAS, following the hearing, the Town Council directed the Town Attorney to prepare a Resolution with written findings regarding the appeal. NOW THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF VAIL: Section 1.Findings. Having heard and considered the evidence and arguments presented by the Appellant, the Appellant's counsel and Town staff, the Town Council hereby finds and determines as follows: a.Pursuant to the Rules of Procedure adopted by the Town Council at the public hearing, which rules were approved by the Appellant's counsel prior to the public hearing, it was the Appellant's burden at the public hearing to prove by a preponderance of the evidence that the Building Official's decision was incorrect. b.It is undisputed that the Appellant has installed and/or maintained numerous encroachments within Tract C of Vail Village Filing No. 11, which is adjacent to the Property. These encroachments are located in the stream tract for Gore Creek. The Town owns Tract C in fee simple, subject to easements of record. 113 2 3/12/2025 C:\USERS\EASYPD~1\APPDATA\LOCAL\TEMP\BCL TECHNOLOGIES\EASYPDF 8\@BCL@840770CE\@BCL@840770CE.DOCX c.It is also undisputed that for more than 12 years, the Town has requested and demanded that the encroachments be removed from Tract C, but the Appellant has refused to remove them under any circumstances. The Appellant's refusal to remove the encroachments from Town-owned property has resulted in many years of litigation, at a massive cost to the Town and its residents, and it has also resulted in the deterioration of Gore Creek. d.Vail Town Code § 12-3-9(B)(3) states as follows: "The Town shall not issue a building permit if, at the time of application, the applicant maintains any activity on any property within the Town that is not in full compliance with all applicable requirements of this Code." e.On December 4, 2024, the Building Official denied the Application, stating that "the Town cannot issue a building permit, because the applicant continues to maintain an unlawful trespass on Town-owned property that is adjacent to the property that is the subject of this application." f.On December 18, 2024, the Appellant submitted its appeal under Vail Town Code § 10-1-13. The Appellant's counsel agreed to bypass the interim step of a Board of Appeals decision, so the appeal proceeded directly to the Town Council under § 10-1- 13(B). g.As the basis for its appeal, the Appellant alleges that the encroachments on Tract C do not constitute an unlawful trespass, because they are authorized by a private covenant amendment enacted by some of the residents of Vail Village Filing No. 11 in 2017 (the "Amendment"), without the Town's consent. The Amendment purports to authorize encroachments on Tract C, again without the Town's consent, in direct violation of the Town's stream tract regulations. h.In 2016, prior to the Amendment, the Colorado Court of Appeals determined that the encroachments on Tract C constituted a trespass as a matter of law. The Appellants did not appeal the 2016 decision, so that decision remains the law applicable to this case. i.In 2020, the Colorado Court of Appeals addressed the relevance of the Amendment to the damages being sought by the Town for such trespass, in an entirely different case, and expressly stated as follows: "Assuming, without deciding, that the Amendment is valid, we turn to how the Amendment might affect Vail's claimed damages for fair market rental value and restoration." (emphasis added). The Appellant's counsel has repeatedly ignored this language in their legal arguments. j.The Appellant's counsel ask the Town Council to rely on language from a 2018 district court order regarding damages for the pre-2017 trespass. However, the 2018 order is no longer relevant or controlling, because that order was appealed, and that appeal resulted in the 2020 Colorado Court of Appeals opinion referenced above. 114 3 3/12/2025 C:\USERS\EASYPD~1\APPDATA\LOCAL\TEMP\BCL TECHNOLOGIES\EASYPDF 8\@BCL@840770CE\@BCL@840770CE.DOCX k.The Appellant's counsel also ask the Town Council to rely on a 2022 district court order in a case regarding the Design Review Board's conditional approval of the proposed addition to the residence on the Property. However, in that case, the Appellant's counsel never asked the district court to rule on the validity of the Amendment and the district court did not so rule. j.Neither the Appellant nor its counsel introduced any evidence at the hearing of an actual, binding, enforceable ruling from any court finally determining that the Amendment is valid. The Appellant and its counsel clearly have access to courts, having litigated against the Town about the Property for almost 10 years, so they have had ample opportunity to obtain such a ruling, but have failed to do so. k.At the public hearing, it was not the Town's burden to produce evidence that the Amendment is invalid – instead, it was the Appellant's burden to produce evidence proving that the Amendment is valid. Because the Appellant failed to introduce any competent evidence that the Amendment is valid, the Appellant failed to prove by a preponderance of the evidence that the encroachments on Tract C do not constitute an unlawful trespass or that the Building Official's decision was incorrect. l.The public health, safety and welfare will not be served by allowing the Appellant to obtain a building permit while continuing to maintain an unlawful trespass on adjacent Town-owned property, especially when the unlawful trespass has caused and will continue to cause damage to Gore Creek. Section 2.Decision. Based on the foregoing findings, the Town Council hereby affirms the decision of the Building Official to deny the building permit in Case #B25-0412. INTRODUCED, READ, APPROVED AND ADOPTED THIS 18th day of March, 2025. ______________________________ Travis Coggin, Mayor ATTEST: ____________________________ Stephanie Johnson, Acting Town Clerk 115 AGENDA ITEM NO. 7.2 Item Cover Page DATE:March 18, 2025 TIME:5 min. SUBMITTED BY:Jake Shipe, Finance ITEM TYPE:Ordinance AGENDA SECTION:Action Items (7:45pm) SUBJECT:Ordinance No. 4, Series of 2025, First Reading, An Ordinance Making Budget Adjustments to the Town of Vail General Fund, Capital Projects Fund, Real Estate Transfer Tax Fund, Housing Fund, Heavy Equipment Fund, Internal Employee Housing Rental Fund, Timber Ridge Fund, and Dispatch Services Fund of the 2025 Budget for the Town of Vail, Colorado; and Authorizing the Said Adjustments as Set Forth Herein; and Setting Forth Details in Regard Thereto (7:50pm) SUGGESTED ACTION:Approve, approve with amendments, or deny Ordinance No. 4, Series of 2025 upon first reading. PRESENTER(S):Jake Shipe, Budget Manager VAIL TOWN COUNCIL AGENDA ITEM REPORT ATTACHMENTS: Council Memo - 1st Supplemental Budget Ordinance No. 4 - 1st Budget Supplemental, First Reading Staff Presentation - 1st Supplemental Budget Presentation 116 TO: Vail Town Council FROM: Finance Department DATE: March 18, 2025 SUBJECT: 2024 Results and 2025 Supplemental Appropriation I.SUMMARY The completion of the town’s 2024 fiscal year sets the stage and provides context for the town’s first supplemental budget appropriation of 2025. Included in this memo is a high-level preliminary review of 2024 financial results. During Tuesday evening's session, you will be asked to approve the first reading of Ordinance No. 4, making supplemental appropriations and adjustments to the 2025 budget. This supplemental reflects $52.7M of capital projects that span more than one year and need to have funding re-appropriated to the current year, in addition to $3.5M in funding for new requests and adjustments. II.DISCUSSION 2024 RESULTS Across all funds, revenues totaled $127.0 million. Excluding large one-time grant revenues from federal grants and the Vail Reinvestment Authority capital reimbursement, 2024 revenues totaled $114.5 million, up $7.6 million from 2023 and up $1.3 million from budget. Sales Tax collections totaled $47.3M in 2024 including both the general 4.0% sales tax ($42.2M) and the new 0.5% housing sales tax ($5.1M). Compared to the prior year, sales tax revenues were up $351.1K, or 0.7%, and up $2.0 million, or 3.3%, compared to budget. 2024 summer season collections were up 2.7%, accounting for the majority of the growth from the prior year. The January – April winter period saw a decline in collections of (0.7)%, while November – December experienced an increase in collections of 0.9%. Inflation, as measured by the consumer price index, was up 2.9% form the 12-months ending December 2024. 1% Real Estate Transfer Tax collections totaled $9.3 million, a $1.4 million or 17% increase compared to 2023. 2024 experienced both an increase in the number of property sales (up 5.7% from 2023), and an increase in the average collection amount (up 10.2% from 2023). A total of 246 properties were sold (excluding timeshares), with an average collection amount of $36,813. 117 - 2 - Construction Use Tax collections of $3.1 million were up $540.4K or 21.3% from 2023. Construction use tac collections for 2024 were a mix of business and residential construction projects. There were no major commercial redevelopments in 2024. Lift tax collections of $6.7 million were up 3.1% or $209.1K compared to 2023. Lift Tax collections for the late winter season into summer (January through October) were tracking up 6% compared to 2023; however, in November and December lift tax collections experienced an 8% decrease compared to the same time period in 2023. Parking revenues totaled $9.4 million flat compared to 2023. Investment Earnings in 2024 totaled $8.3 million, up $700K compared to 2023. 2024 net expenditures totaled $153.6 million compared to $218.8 million budgeted. Of the $65.2 million budget variance, $52.3 million is requested for re-appropriation for capital projects currently underway in the Capital, RETT, Housing, Heavy Equipment, and Residences at Main Vail Funds. The remaining savings of $12.5 million was a result of savings from capital projects ($5.5), town-wide staffing vacancies ($2.1M), reduced event spending ($882K), fewer health insurance claims ($332K), and reduced general operating expenditures ($3.7M) such as professional fees, general supplies and materials, programs, and fuel and vehicle supplies. 118 - 3 - 2025 SUPPLEMENTAL APPROPRIATION The main purpose of this supplemental is to re-appropriate funds for capital projects budgeted in 2024 and are continuing into this year, or projects that did not begin as planned. There are also adjustments needed to reflect events or decisions that have occurred since the 2025 budget was finalized. General Fund Revenue General Fund revenues have been increased by $415,047 offset by a decrease in grant revenues totaling $236,152. The majority of the increase in revenue, $231,332, reflects project reimbursements and grant funding that will be directly offset by corresponding expenditures, including the following: • $207,300 for the continuation of initiatives associated with the grant from the Colorado Department of Local Affairs for the Affordable Housing Capacity Building project. This grant provides an 80% match. • $24,032 for the continuation of the High Visibility Enforcement grant from the Colorado Department of Transportation due to the difference in the State’s fiscal year. The remaining $183,715 increase in revenue includes the following: • $131,652 increase in daily parking sales revenue. 2024 parking revenues totaled $8.1M, exceeding budget by $247K. Staff has adjusted 2025 parking revenues to be more in line with 2024 collections while also reflecting current year to date trends. The total 2025 proposed amended budget is $7,623,000 down 3.0% compared to prior year. • $44,000 increase in estimated electric vehicle charging station revenue (totaling $66,000 for 2025) due to the new pricing structure implemented on March 1st. This pricing structure is expected to cover average annual operational costs of the Town’s public charging stations of approximately $76,000. • $12,883 increase in the internal administrative fee from the Internal Employee Housing Rental Fund due to the increase in rental revenue associated with the newly purchased East Vail Lodging #35 and Hamlet #3 units. Revenue has been decreased by a total of $236,152 due to uncertainty around the collectability of the federal FTA 5311 Transit Operational grant awarded by the Colorado Department of Transportation. There has been no official change in this grant’s status. However, the Town has not received a definitive communication from the grant administrator that these funds will not be frozen. In accordance with a conservative budgeting philosophy, this grant revenue is removed from the budget. The associated expenditures within the Town’s transit program remain in the budget, funded by general revenues. General Fund expenditures are proposed to increase by $1,035,657, offset by a decrease in expenditures of $50,000. $231,332 of the increased expenditures will be reimbursed by the revenue items listed above while $412,558 represents planning projects that have not been completed and are requested to be rolled forward including West Lionshead ($130,000), Civic Area ($78,772), Transit Optimization ($19,680), and the Destination Stewardship Plans ($184,106). The remaining $289,942 represent new requests: • $290,042 for the annual management fees, commissions, and TOV in-kind usage fees for the Donovan Pavilion and Grand View Room. This is offset by the rental revenue for these two rooms already included in the budget. • $24,900 for an opinion survey related a potential STR Excise Tax • $21,000 for the replacement of small Police Department equipment for traffic enforcement, including four speed radars and ten breathalyzers. The equipment to be 119 - 4 - replaced is approximately 15-years old and has a an expected replacement cycle of 10- years. • $4,000 for the annual cost of a subscription to a GIS mapping software in partnership with the Eagle River Water and Sanitation District • $(50,000) decrease for the shift of annual parking entry system repair and maintenance costs from the General Fund to the Capital Projects Fund for consistent accounting treatment. As costs have increased, replacement of various component of the parking entry system have exceeded the Town’s capitalization threshold of $5,000, requiring recognition in a capital fund. This will be offset by an increase of $50,000 to parking capital and will have no net impact to total budgeted expenditures across all town funds. This supplemental budget includes an adjustment to the transfers allocated to the Timber Ridge Fund for the town’s investment in the Timber Ridge redevelopment. The shift is based on available fund balances and follows best practices by prioritizing the use of the most restrictive funds first. Based on updated budget projections the Housing Fund has a greater available balance than originally projected. As a result, staff recommends utilizing these funds first, reducing the transfer from the General Fund by $10.2 million and increasing the transfer from the Housing Fund by the same amount. The above adjustments to the General Fund 2025 budget result in an estimated fund balance of $46.5 million by the end of 2025, or 74% of annual revenues in a normal year. Capital Projects Fund Budgeted revenues will be adjusted by an increase of $4,885,778, offset by a decrease of $15,397. The increases in revenue are related to reimbursements and grants for capital projects originally budgeted and committed to in prior years but are being re-appropriated due to project timing. These revenues will be directly offset by re-appropriated project expenditures. These include: • A reimbursement of $1,741,906 from the Vail Reinvestment Authority (VRA) for the planning and design phase of Dobson redevelopment ($1,741,906) • A total of $1,897,829 utilization of the Holy Cross franchise fee and underground enhancement funds for the conversion of overhead electric lines to underground lines in conjunction with the planned fiber optic project. These funds are built-up over time and recognized when used towards applicable projects. • $750,000 Multi-Model Option Funds grant to be used towards the design of an expanded Mobility Hub at the Vail Transportation Center • $250,000 Colorado Energy Office grant towards the design of a Geothermal Energy District • $154,079 for the remaining balance of the CDOT grant to be used towards electric bus electric charging infrastructure • $91,964 Multi-Model Option Funds grant to be used towards the continuing bollard infrastructure project At this time, staff has not re-appropriated grant revenues for the $1.6M FTA 5339(B) grant awarded last year towards the replacement of two electric buses due to uncertainty around the collectability of funding due to impacts of federal funding freezes. The town is optimistic it will receive the funds; however, the staff has not received a definitive communication from the grant administrator that these funds will be dispersed. In accordance with a conservative budget philosophy, the corresponding revenues have not been included in the budget. These buses have been ordered, and the town does expect to receive them early this year. 120 - 5 - The $15,397 decrease in revenue reflects an adjustment to the transfer from the RETT Fund for the Dobson Redevelopment project. The original 2025 budget included a transfer of $762,546, which was allocated in the 2024–2029 Five-Year Plan for routine maintenance at Dobson. However, since the redevelopment project will eliminate the need for certain maintenance expenses during this period, these funds were transferred to go towards the cost of redevelopment. $15,397 of those funds were used in 2024 towards maintenance. Staff is requesting to supplement 2025 expenditures by a total of $26,613,769 of which $24,298,294 represents projects budgeted in 2024 but not yet completed/received such as the underground utility conversion project ($4.2M), placeholder for replacement of snowmelt boilers ($2.1M), replacement of two buses ($2.1M), the ongoing Dobson Arena redevelopment ($1.7M), neighborhood road projects ($1.5M), and the design of the Vail Mobility Hub expansion ($1.5M). Please see the Capital Projects Fund statement for a full list of all re-appropriations. The remaining $1,262,844 increase in expenditures is for new requests/adjustments, including the following: • An increase of $500,000 for prioritized structural repairs to extend the life of the Vail Village and Lionshead parking structures, as presented to council in the Parking Structural Assessment at the February 4th meeting. • An increase of $234,468 for the purchase of Employee Rental Units as a true-up to the final negotiated costs for units that went under contract during 2024. Initially, the Homestake Vail unit was going to be purchased and sold back to the community. However, it was later decided that this unit was a better fit as a town of Vail employee unit, decreasing the budget funds available for the Hamlet #3 unit, which closed in January 2025. • A $170.0K increase in the placeholder for an updated Human Resources/Enterprise Information System to accommodate the inclusion of payroll, timekeeping, and performance management, learning, and possible recruitment. The original budget only considered a benefits management system previously managed manually with spreadsheets. After a preliminary review of the solutions and an evaluation of our current system processes, staff is requesting additional funds for the full HRIS system to manage the full employee lifecycle. This will enhance the employee experience by providing self-service options, automate data entry and updates across HR and Finance functions, and reduce errors and administrative burden. It will also ensure compliance with record keeping, labor laws, and tax laws. The total amount of the requested placeholder is $290.0K for implementation and one year of SAAS costs. Once the new system is operational, there will be an estimated offset in expenditures of approximately $75,000 annually. • $49,900 for the implementation of a software to track the Town’s progress on the Council Strategic Plan. This is offset by savings in strategic plan projects in the General Fund for 2024. This includes a one-time setup fee of $21,875 and an annual licensing fee of $28,025. • $47,000 to install bullet-resistant glass to the Police Department administrative area for security enhancements. • $45,074 for the outfit the final two Police Department fleet expansion vehicles. Due to cost escalations during the three-year period in which these vehicles were being acquired, there was not a sufficient balance remaining in the 2024 budget to reappropriate towards these costs. • $40,000 for replacement of the Level 4 Parking Entry Equipment at the Red Sandstone Structure. This equipment is approximately 3-years old and is unable to be repaired. • $36,000 for the monthly platform licensing and hosting fee for the new UbiPark parking software which was implemented during the Fall of 2024. 121 - 6 - • $32,248 for the replacement of siding on the West Side of the Children’s Garden of Learning needed due to sun warping damage. This is offset by savings in the final costs for the CGOL facility relocation in the 2024 amended budget. • $27,082 to repair the drain lines in the Seibert Fountain equipment vault needed due to freeze damage. This is offset by savings in a placeholder for pump replacement in 2024 that was not needed. • $17,300 for the implementation of an artificial intelligence-assisted software to assist in more detailed and accurate reporting of parking data. This includes a one-time setup fee of $6,600 and an annual licensing fee of $10,700. All of the above adjustments will result in an estimated fund balance of $4.6 million by the end of 2025. Real Estate Transfer Tax (RETT) Fund Budgeted revenues will be adjusted by an increase of $315,574. The majority of this or $291,192 is for revenue reimbursements and grants originally budgeted and awarded in prior years but delayed due to project timing. These revenues will be directly offset by re- appropriated project expenditures. This includes: • $205,309 for the contribution from the Eagle River Water and Sanitation District towards the Dowd Junction Stabilization project. • A $75,000 contribution from the Evergreen Development towards the Middle Creek on TOV-owned land as required by the development process • $10,883 for the bear education grant from Colorado Parks and Wildlife The remaining $24,382 increase in revenue is related to the following adjustments: • $14,382 adjustment to the Golf Course lease revenue budget with the Vail Recreation District (VRD) to agree to the lease agreement. These funds are offset by an equal increase in expenditures toward the Recreation Enhancement Fund, which is built-up over time and utilized towards enhancements to TOV properties managed by the VRD. An additional increase to expenditures of $16,134 is included for revenue collected above the 2024 budgeted amount. • $10,000 in donations from the Kosloff and Winmax Foundations towards the Winterfest program, which is offset by an equal increase to expenditures for the Winterfest program. Staff is requesting to supplement expenditures by a total of $7,862,221 of which $7,446,894 represents projects budgeted in 2024 but not yet completed such as the TOV contribution to the replacement of Athletic Field restroom and concession building ($1.0M), the construction of the Ford Park Art Space ($963.4K), the continuing rehabilitation of the Pedestrian Overpass over I70 and other pedestrian bridge repairs ($703.3K), the TOV contribution to the Gymnastics Center HVAC replacement ($691.2K), the replacement of the Ford Park turf field with a synthetic alternative ($472.0K), and the ongoing re-stabilization of the Dowd Junction retaining wall and bike path ($453.8K). Please see the Real Estate Transfer Tax fund statement for a full list of all re-appropriations. New requests/adjustments include the following: • $107,500 in increases to the annual parks department budget, including $56,000 to support the increased frequency of cleaning of restrooms and port-a-lets implemented last year and $51,500 for the increased water rates implemented by ERWSD during 2024 and again in 2025. 122 - 7 - • Staff is requesting to utilize $146,224 of 2024 savings in the Parks Maintenance Budget towards a rebuild of a 1250’ section of the North Recreation Trail and Red Sandstone Road and the Pedestrian Overpass. • Utilization of $100,000 in funds originally budgeted in 2024 for a I-70 wildlife passage study with CDOT towards general habitat improvement initiatives such as booth creek weed control and revegetation/fuels work. • Staff is requesting to utilize $40,000 in savings from the water quality infrastructure installation placeholder toward storm-water related improvements at the East Vail Interchange. In combination with the re-appropriation of unspent 2024 funds, the total proposed budget in 2025 for the East Vail Interchange project $190,453. • $25,000 for an increase in contract scope for the Golf Course water quality study and vegetative plan to include the contractor’s participation in stakeholder engagement session for the Town Council, the Public, and the Vail Recreation District. This project is being partially funded by a $30,000 reimbursement from the Vail Recreation District. • $2,000 in additional funds for the Sole Power App Development for a fee to develop the connection between the App and the Town’s cloud servers. The above adjustments will result in an estimated fund balance of $4.5 million at the end of 2025. Housing Fund Budgeted revenue will increase by $900,400 for the following items: • Re-appropriate $625,000 for the sale of the Pitkin Creek Park #3B unit purchased by the town in 2024. This unit will be resold to the community with a “buy-down” as a deed restricted unit. • $275,400 for the buyout of the deed restriction at 363 Beaver Dam Circle. This was approved by council at the February 4th meeting. Staff is also requesting to supplement budgeted expenditures by $18,852,791, all of which represents re-appropriations for the town’s housing programs. This includes: • $10,541,295 for the transfer to the Timber Ridge fund for site and podium costs. Of this amount, $10.2M was originally budgeted as a transfer from the General Fund, but will now be paid from the Housing Fund to utilize the most restrictive funds first. Additionally, staff has increased the transfer and Timber Ridge budget by $710K to true up the total budget to the development agreement. • $2,885,645 in funds for the Vail InDEED program. The 2024 amended budget is proposed to include a total of $4,385,645 for the InDEED program. • $2,398,502 placeholder for the acquisition of the East Vail CDOT parcel, and $17,900 for the 1’ parcel which borders it. These purchased were finalized earlier this year. • A $1,500,000 placeholder to ensure funds are available for future housing purchase opportunities. $150,904 of this amount represents funds built-up through the collection of the housing fee in-lieu. Please see the Housing Tax Fund fund statement for a full list of all re-appropriations. The above adjustments will utilize all remaining funds balance in the housing fund. 123 - 8 - Internal Employee Housing Rental Fund Budgeted revenue will increase by $64,416 for rental revenue from the newly purchased East Vail Lodging #35 and Hamlet #3 units. This is offset by an increase in expenditures of $49,718; $36,835 for operational costs such as utilities and condo dues, and $12,833 for the administrative fee to the general fund for these units. Budgeted revenue will also increase by $52,631 for a transfer from the Capital Projects Fund funding an equal increase to Capital Maintenance expenditures for ongoing improvements to older employee housing units purchased during the past few years, including window replacements at Buffehr Creek #4A and #6. The above adjustments will result in an estimated fund balance of $23.3K at the end of 2025. Dispatch Services Fund Budgeted expenditures are requested to increase by $1,186,486. The majority of this amount, $797,110, represents re-appropriation of ongoing capital projects. This includes the following: • $700,000 for the replacement of the Records Management System (RMS) • $97,110 for the Mobile Responder Command and Control tool The remaining increase in expenditures of $389,376 are for new requests and include the following: • $264,376 for the implementation of staffing initiatives designed to increase retention and reduce position vacancies. The funding for these initiatives was approved by the participating agencies but was not included in the original 2025 budget due to the timing of the planning for implementation. • $75,000 for an organizational structure assessment of the Dispatch Communications Center to identify the factors impacting a long-term sustainable operational model. This assessment would focus on an organizational assessment, staffing analysis, and technology and resource assessments. This request is supported by participating agencies. • $50,000 increase in the cost of the Records Management System replacement as a contingency placeholder for additional costs to migrate data to the new system. The above adjustments will result in an estimated fund balance of $1,831,600 at the end of 2025. Heavy Equipment Fund Budgeted expenditures are proposed to increase by $1,411,715. The majority of the increase in expenditures, $1,350,715 is requested for vehicle replacements originally budgeted in 2024. Most vehicles budgeted for have been ordered and are awaiting delivery. The remaining increase in requested expenditures are for the following items: • $31,000 for an increase in the cost of the 5-year warranty and cloud plan contract on the electric bus charging stations based on an up-to-date quote recently received. The total cost is $130,870. • $30,000 re-appropriation of the electric bus charging station operational training costs from 2024. These costs may be covered by federal FTA 5339(B) funding awarded to the Town. Due to uncertainty around the collectability of funding due to Federal funding 124 - 9 - freezes, and in accordance with a conservative budget philosophy, the corresponding revenues have not been re-appropriated in the budget. The above adjustments will result in an estimated fund balance of $415.1K at the end of 2025. Timber Ridge Fund The Timber Ridge Fund reflects the reappropriation of $10,059,950 for the final portion of the town's contribution towards the Timber Ridge Redevelopment. The budget has been increased by $710K to true the budget up to the development agreement. This is directly offset by a $10,541,295 transfer from the Housing Fund and $229,233 transfer from the General Fund. This transfers amounts have been adjusted to utilize the more restrictive Housing funds first. The above adjustments will result in an estimated remaining fund balance of $2.1M at the end of 2025.These funds will go towards paying off the original loan to the capital projects fund. 125 Preliminary Proposed 2024 2024 Under 2025 1st 2025 Amended Actuals (Over)Budget Supplemental Amended Notes Revenue Local Taxes:40,850,000$ 42,198,819$ 1,348,819$ 42,064,000$ 42,064,000$ Sales Tax Split b/t Gen'l Fund & Capital Fund 62/38 59/41 62/38 62/38 Sales Tax 25,327,000 25,327,000 - 26,280,000 26,280,000 Property and Ownership 8,445,000 8,104,077 (340,923) 8,083,644 8,083,644 Ski Lift Tax 7,014,135 6,745,551 (268,584) 6,915,427 6,915,427 Franchise Fees, Penalties, and Other Taxes 1,901,156 1,913,386 12,230 1,971,710 1,971,710 Licenses & Permits 3,460,206 3,579,209 119,003 3,216,565 3,216,565 Intergovernmental Revenue 4,381,599 3,886,505 (695,094) 3,575,621 (4,820) 3,570,801 Roll forward unused portion of 2024 grants and agreements: State DOLA Capacity Grant ($207.3K); State High Visibility Enforcement ($24.0K); Remove FTA 5311 operational transit grant due to uncertainty of funding ($236.2K) Transportation Centers 8,953,976 9,394,536 440,560 8,992,252 175,652 9,167,904 Increase parking revenue based on YTD sales ($131.6K); Increase EV charging station revenue for new pricing model ($44.0K) Charges for Services 1,151,229 1,349,856 198,627 1,486,377 12,883 1,499,260 Increased IEHRF Admin Fee for new units ($12.9K) Fines & Forfeitures 204,116 498,503 294,387 219,116 219,116 Earnings on Investments 4,620,303 4,500,699 (119,604) 635,896 635,896 Rental Revenue 1,789,266 1,983,951 194,685 740,387 740,387 Miscellaneous and Project Reimbursements 256,700 354,553 97,853 216,000 216,000 Total Revenue 67,504,687 67,637,827 (66,859) 62,332,995 183,715 62,516,710 Expenditures Salaries 28,677,716 27,427,142 1,250,574 30,495,338 24,032 30,519,370 PD HVE Enforcement grant costs ($24.0K) Benefits 9,279,920 9,276,419 3,501 9,565,532 9,565,532 Subtotal Compensation and Benefits 37,957,636 36,703,562 1,254,074 40,060,870 24,032 40,084,902 Contributions and Welcome Centers 307,200 281,207 25,993 360,551 360,551 Childcare Program Funding 250,000 273,731 (23,731) 551,000 551,000 All Other Operating Expenses 13,946,226 11,931,360 2,014,866 13,219,704 549,067 13,768,771 Donovan & Grand View management fees, commissions, and TOV in-kind usage fees ($290.0K); Re-appropriate DOLA capacity grant initiatives ($259.1K); Surveying for STR ballot question ($24.9K); PD small equipment replacements for traffic enforcement ($21.0K); Nearmap subcription with ERWSD ($4.0K); Shift recognition of parking equipment R&M to CPF for accounting consistency (- $50.0K) Heavy Equipment Operating Charges 3,361,626 2,918,585 443,041 3,530,452 3,530,452 Heavy Equipment Replacement Charges 1,200,050 1,334,717 (134,667) 1,340,867 1,340,867 Dispatch Services 691,448 691,448 - 827,331 827,331 Total Expenditures 57,714,186 54,134,609 3,579,577 59,890,775 573,099 60,463,874 Surplus (Deficit) from Operations 9,790,501 13,503,219 3,712,718 2,442,220 (389,384) 2,052,836 TOWN OF VAIL 2025 PROPOSED AMENDED BUDGET SUMMARY OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE GENERAL FUND 126 Preliminary Proposed 2024 2024 Under 2025 1st 2025 Amended Actuals (Over)Budget Supplemental Amended Notes TOWN OF VAIL 2025 PROPOSED AMENDED BUDGET SUMMARY OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE GENERAL FUND One-Time Items: Planning Projects Transit Route & Operations Planning (90,000) (70,320) 19,680 - (19,680) (19,680) Re-appropriate ongoing planning ($13.7K) VLMD Transfer for Destination Stewardship Mgmt. Plan 200,000 - (200,000) - - Destination Stewardship Mgmt. Plan (227,315) (43,209) 184,106 - (184,106) (184,106) Re-appropriate funds for ongoing GHG Inventory and roadmap projects ($184.1K) Civic Area Master Plan (323,029) (244,257) 78,772 (150,000) (78,772) (228,772) West Vail Master Plan - - - (150,000) (150,000) West Lionshead Master Plan (150,000) (20,000) 130,000 - (130,000) (130,000) Neighborhood Drainage Master Plan - - - (350,000) (350,000) Contingency - - - (50,000) (50,000) Contributions Funded with Reserves ECO Trail- Eagle Valley Trail Contribution (Minturn)(100,000) (100,000) - - - Net Increase /(Decrease) due to One- Time Items: (690,344) (477,786) 212,558 (700,000) (412,558) (1,112,558) Transfer (to)/from Marketing & Special Events Fund (2,600,000) (1,718,951) 881,049 - - Transfer (to)/from VLMD for Special Events - - - (2,522,299) (2,522,299) RETT repayment for Booth Heights Legal Fees 650,856 945,247 294,391 - - Transfer from RETT (Other)13,500 13,500 - - - Transfer (to) RETT (Other)(2,880) (2,880) - - - Transfer (to)/from Other Funds (Other)(301,629) (301,629) - - - Timber Ridge Transfer to TR for Site and Podium (30,522,340) (20,115,596) 10,406,744 - (229,233) (229,233) Adjust Transfer to utilize most restrictive funds first Middle Creek Redevelopment (Transfer to HF)- - - (1,000,000) 1,000,000 - Adjust Transfer to utilize CPF Parking Capital Reserve Contribution - - - (5,000,000) (5,000,000) Surplus (Deficit) Net of Transfers and One-Time Items (23,662,336) (8,154,876) (6,780,079) (6,780,079) Beginning Fund Balance 61,440,888 61,440,888 53,286,012 53,286,012 Ending Fund Balance 37,778,552$ 53,286,012$ 46,505,933$ 46,505,933$ As % of Annual Revenues 56%79%75%74% 127 Preliminary Variance Proposed 2024 2024 Favorable/2025 2025 Amended Actuals (Unfavorable)Budget Reappropriations New Requests Amended Revenue Total Sales Tax Revenue:40,850,000$ 42,198,819$ 1,348,819$ 42,064,000$ 42,064,000$ Sales Tax Split between General Fund & Capital Fund 62/38 62/38 Sales tax split 62/38 Sales Tax - Capital Projects Fund 15,523,000$ 17,288,012$ 1,765,012$ 15,984,000$ 15,984,000$ Use Tax 3,118,670 3,073,318 (45,352) 2,502,000 2,502,000 2026 - 2029: 2% Increase Franchise Fee 1,126,672 3,280 (1,123,392) - 1,123,392 1,123,392 2025: Roll forward utilization of 1% Franchise Fee for Holy Cross underground utilities project ($1.1M) 2024: Utilize 1% Franchise Fee for Holy Cross underground utilities project; Federal Grant Revenue 3,825,482 3,895,668 70,186 - - 2024: Re-appropriate Hickenlooper/Bennet Federal grant award for two electric buses ($1.65M); and 5339 (B) Federal Grant towards two electric buses ($1.8M); Additional bus charger grants ($360.6K) Other State Revenue 3,600,276 217,242 (3,383,034) - 1,246,043 1,246,043 2025: Roll forward unused MMOF Grant towards Mobility Hub Design ($750.0K); CO Energy Office Geothermal Design Grant ($250.0K); MMOF Grant toward Bollards ($92.0K); CDOT Grant towards 3 electric bus chargers ($154.1K) 2024: MMOF grant towards Mobility Hub Design ($750K); Re-appropriate CDOT grant towards four electric buses ($2.0M), CDOT grant towards four electric bus chargers ($255.7K), remaining MMOF Grant for l&d and bollards($164.4K), fleet charging station grant ($30K); Colorado Energy Office grant towards the design of Geothermal Energy project ($250K); Lease Revenue 172,270 168,826 (3,444) 172,270 172,270 Per Vail Commons commercial (incr. every 5 years); Project Reimbursement 774,437 39,182 (735,255) - 774,437 774,437 2025: Reappropriate use of HCE Funds for Underground Utility Project with Holy Cross 2024: Utilize Holy Cross Enhancement Fund for HCE Underground Utility Project; Total balance $774,437 Timber Ridge Loan repayment 468,933 462,955 (5,978) 462,909 462,909 TR Annual Loan payment Earnings on Investments and Other 1,955,105 2,039,606 84,501 861,957 861,957 2025: 3% return assumed Total Revenue 30,564,845 27,188,088 (3,376,757) 19,983,136 3,143,872 - 23,127,008 Expenditures Facilities Facilities Capital Maintenance 970,187 421,392 548,795 430,000 430,000 2025 includes: Fire Station Furniture Replacement ($50K), Fire Station II Overhead garage doors ($20K), Library Boiler Replacement ($40K), Library Furniture Replacement ($50K) 2024 includes: PW 30% roof replacement ($75K), Buzzard Park repairs ($75K), Buzzard Park roof repairs ($50K), transit office windows and doors ($25K), PW overhead garage door ($50K), PW carpet replacement ($50K); Additional funds for Transit Office Air Handler Engineering and Library Air Handler Engineering using 2023 savings from Municipal Complex Maintenance ($473.5K); Municipal Complex Maintenance 1,385,000 1,424,414 (39,414) 260,000 400,000 47,000 707,000 2025 includes: Police Department Roof ($150K), Police Department Boilers Maintenance ($50K); Reappropriate facility maintenance funds towards ongoing projects, including Discover Vail office move and Muni Building furniture replacements ($400.0K); PD Admin Area Security Enhancements ($47.0K); 2024: Various Municipal capital improvements, including Muni HVAC Replacement ($1.0M) Building Energy Enhancement Projects 50,000 - 50,000 25,000 50,000 75,000 2025: Re-appropriate unspent placeholder funds towards efficiency enhancements in Town building, pending results of 2024 Energy Audit ($50.0K) 2024: Placeholder for energy enhancements specific to Town buildings Public Works Building Maintenance 180,000 - 180,000 - - 2024:PW Admin exterior building paint, furnace relocation, and window replacement ($180K) Public Works Specialty Equipment - - - 30,000 30,000 2025: Purchase of Sign Shop Printer ($30.0K) Welcome Center/Grandview Capital Maintenance 121,778 - 121,778 25,000 25,000 2025: Placeholder for annual capital maintenance 2024: $121.8K Furniture Upgrades TOWN OF VAIL 2025 PROPOSED AMENDED BUDGET SUMMARY OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE CAPITAL PROJECTS FUND 1st Supplemental 128 Preliminary Variance Proposed 2024 2024 Favorable/2025 2025 Amended Actuals (Unfavorable)Budget Reappropriations New Requests Amended TOWN OF VAIL 2025 PROPOSED AMENDED BUDGET SUMMARY OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE CAPITAL PROJECTS FUND 1st Supplemental Purchase of Employee Rental Units 5,224,136 3,411,963 1,812,173 - 1,812,173 234,468 2,046,641 2025: Re-appropriate funds towards purchase of Hamlet Townhome Unit #3 ($1.8M); New funding as true-up for Hamlet #3 unit due to final commission negotiations and discrepancy during staff turnover ($234.5K); All Future purchases of employee units will be reflected in the Internal Housing Fund 2024: Purchase of TOV employee housing stock ($1.2M); Purchase of Hamlet Townhome Unit 3 ($2.0M) Employee Rental Capital Maintenance 280,000 227,369 52,631 - - 2025: Capital Maintenance of Town-Owned Rental Units will be reflected in newly proposed Internal Employee Housing Fund 2024: Window replacement Buffehr Creek #6A and #4A ($47.2K) and roof replacement at the Hamlet unit ($72.8K) Geothermal Energy System 400,000 14,644 385,356 1,500,000 333,556 1,833,556 2025: Placeholders for geothermal component of snowmelt boiler replacement ($1.5M) 2025: Re-appropriate design funds for Geothermal Energy District ($385.4K); Reduce budget by $51.8K for Art Studio budget increase to connect to existing Geothermal Well in RETT fund ($51.8K) 2024: Utilize placeholder for efficient snowmelt boiler replacements towards the Geothermal Project design, planning, and construction ($150.0K); $250.0K additional design funds offset by grant from Colorado Energy Office Snowmelt Boilers Replacement 1,961,634 66,040 1,895,594 - 1,895,594 1,895,594 2025: Re-appropriate funds as placeholder for boiler replacements that may be necessary depending on geothermal design outcomes and timeline ($1.8M); Boilers are reaching end of life Arrabelle Snowmelt Boilers 190,000 - 190,000 - 190,000 190,000 2025: Re-appropriate funds towards Arabelle Boiler Replacement - Shared cost managed by Vail Resorts ($190.0K) 2024: Arabelle Boiler Replacement - Shared cost with Vail Resorts ($190.0K) Donovan Pavilion Remodel 50,000 - 50,000 59,500 50,000 109,500 2025: Main Floor refinishing/resealing ($35.0K); Walk-behind floor buffer/sweeper ($10.0K); Furniture Replacements ($14.5K); Re-appropriate 2024 placeholder as capital maint contingency ($50.0K) 2024:Capital Maintenance Placeholders ($50K) Mountain Plaza Elevator Renovation - - - 100,000 100,000 2025: Placeholder for Mountain plaza elevator renovation (shared cost with Vail Resorts) Vail Mobility Hub Expansion 1,500,000 - 1,500,000 - 1,500,000 1,500,000 2025: Re-appropriate funds for design of Vail Mobility Hub Expansion, offset by $750K MMOF match grant included in state reimbursements above ($1.5M) 2024: Design for Vail Mobility Hub (VTRC) Expansion offset by $750K MMOF match grant included in state reimbursements above Fire Sprinkler Upgrades at Bus Barn 600,000 - 600,000 - 600,000 600,000 2025: Reappropriate funds towards Bus Barn fire sprinkler upgrades; Project is still in engineering phase ($600.0K) 2024: Update Fire Sprinkler system in bus barn to accommodate needs of expanded electric bus fleet ($500k); Re-appropriate design funds for sprinkler system updates ($100K) Public Works Shops Expansion 114,543 96,485 18,058 - 18,058 18,058 2025: Re-appropriate funds towards architectural feasibility and planning for identified phase two expansion opportunities ($18.0K) 2024: Architectural feasibility and planning for identified phase two expansion opportunities ($114.5K) Total Facilities 13,027,278 5,662,308 7,364,970 2,429,500 6,849,381 281,468 9,560,349 Parking Parking Structures 940,000 336,015 603,985 1,697,000 603,985 500,000 2,800,985 2025: Placeholder for beautification at Vail Transit Center ($200.0K); Re-appropriate funds towards priority structural repairs/rehab as identified in the study ($604.0K); Additional funding towards priority structural repairs/rehab as identified in the study ($500.0K) 2024/2025: Various repairs including deck topping replacement, expansion joint repairs, ventilation, HVAC, plumbing and other structural repairs 129 Preliminary Variance Proposed 2024 2024 Favorable/2025 2025 Amended Actuals (Unfavorable)Budget Reappropriations New Requests Amended TOWN OF VAIL 2025 PROPOSED AMENDED BUDGET SUMMARY OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE CAPITAL PROJECTS FUND 1st Supplemental Parking Entry System / Equipment 404,337 116,124 288,213 - 338,214 338,214 2025: Re-appropriate funds for remaining parking system replacement costs, including subscription recognized over 5-years ($233.2K); Re-appropriate ongoing parking replacement equipment purchases for damaged items ($55.0K); Shift parking maintenance budget from GF for accounting consistency ($50.0K) 2024: Re-appropriate $114.8K for remaining parking system replacement costs Red Sandstone Parking Structure 70,000 - 70,000 - 40,000 40,000 2025: Request for Level 4 parking entry equipment that needs replacement ($40.0K) 2024: $70K structure resealing Total Parking 1,414,337 452,139 962,198 1,697,000 942,199 540,000 3,179,199 Transportation Bus Shelters 232,583 226,218 6,365 50,000 50,000 2025: Annual Bus Shelter Maintenance ($30.0K); Add Solar Lighting at Existing Shelters ($20.0K) 2024: Construction of Additional Shelters ($202.6K) Timber Ridge Transit Stop 1,908,277 - 1,908,277 - 1,908,277 1,908,277 2025: Re-appropriate construction of a transit stop at the new Timber Ridge housing development ($1.9M) 2024: Construction of a transit stop at the new Timber Ridge housing development, offset by a decrease in expenditures in the Timber Ridge fund ($1.9M) Replace Buses 7,850,000 5,710,950 2,139,050 - 2,139,050 2,139,050 2025: Re-appropriate $2.1M for two electric buses which are still awaiting delivery (May be offset by $1.6M of potential federal grant funding) 2024: $7.9M funds for six bus replacements with electric models Bus Wash Equipment 650,000 588,270 61,730 - - 2024: $650K Bus wash replacement Bus Sign Replacement 15,025 - 15,025 - - 2024: Electric bus signage replacement project ($15.0K) Traffic Impact Fee and Transportation Master Plan Updates 33,943 26,490 7,453 - - 2024: Finalize and adopt Go Vail 2045 ($33.9K) Hybrid / Electric Bus Battery Replacement 165,000 - 165,000 - - 2024: Battery Replacement Placeholder ($165.0K) Electric bus chargers and electrical service rebuild 993,783 724,992 268,791 - 268,791 268,791 2025: Reappropriate funds as contingency placeholder to move or adjust chargers based on outcomes of Bus Barn fire sprinkler engineering if deemed necessary ($268.8K) 2024: $725.0K New charging stations and infrastructure for buses at PW Car Share Program Infrastructure - - - 117,675 117,675 2025: Purchase of two vehicles ($100K) for car share program; upgrades to Electric Chargers ($17.7K) for implementation of Car Share program Total Transportation 11,848,611 7,276,920 4,571,691 167,675 4,316,118 - 4,483,793 Road and Bridges Capital Street Maintenance 1,640,000 1,552,187 87,813 1,660,000 1,660,000 2025 includes Asphalt Mill & Overlay ($700K), Surface Seal ($215K), Drainage Improvement ($110K), Streetscape Repair ($82K) 2024 includes surface seal ($310K); asphalt mill overlay ($550K); Drainage Improvement ($105k) Residential Traffic Calming - - - 35,000 35,000 2025: Residential Traffic Calming - Photo Radar Pilot ($35.0K) Street Light Improvements 440,000 - 440,000 75,000 440,000 515,000 2025: Annual Town-Wide street light replacement ($75K); 2025: Re-appropriate funds towards neighborhood street light replacements scheduled for this year ($440.0K) Slifer Plaza/ Fountain/Storm Sewer 70,714 - 70,714 - - 2024:$70.7k towards water quality smell issues at Slifer Plaza not completed in 2023 Vail Health / TOV Frontage Road improvements 235,317 - 235,317 - - 2024: Re-appropriate funds for the remaining project: widen sidewalk at Vail International ($235.3K) Neighborhood Bridge Repair 1,085,599 677,563 408,036 - 408,036 408,036 2025: Re-appropriate ongoing bridge scour mitigation project at Chamonix Rd ($408.0K) 2024: Complete on going projects at Nugget Ln, Lupine Dr, Bighorn Rd at Pitkin and Bighorn Creeks, as well as scour mitigation at Main Gore Dr and Chamonix Rd ($1.1M) 130 Preliminary Variance Proposed 2024 2024 Favorable/2025 2025 Amended Actuals (Unfavorable)Budget Reappropriations New Requests Amended TOWN OF VAIL 2025 PROPOSED AMENDED BUDGET SUMMARY OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE CAPITAL PROJECTS FUND 1st Supplemental Seibert Fountain Improvements 27,082 - 27,082 - 27,082 27,082 2024: Re-appropriate funds for circulation pump replacement ($27.1K); 2025: Utilize 2024 savings from circulation pump replacement not implemented towards repairs to the drain lines in the equipment vault to prevent flooding ($27.1K) Roundabout Lighting Project 1,236,697 747,758 488,939 - 488,939 488,939 2025: Re-appropriate funds to complete lighting project at Town Center ($488.9K) 2024: Re-appropriate funds to complete lighting project at Town Center ($1.2M) Neighborhood Road Reconstruction 1,588,809 35,115 1,553,694 - 1,553,694 1,553,694 2024/2025: Re-appropriate funds towards delayed Meadow Dr culvert lining, Black Gore Dr culver replacements, and Meadow Dr/Meadow Ln drainage improvements design ($1.6M) South Frontage Road Pedestrian Improvements - - - 250,000 250,000 2025: Design of pedestrian improvements on the South Frontage Road (paved bike lanes/shoulders, sidewalk sections) between W LH Circle and E LH Circle, and Donovan to Westhaven Vail Village Streetscape/Snowmelt Repair 2,933,961 330,948 2,603,013 - 900,000 900,000 2025: Re-appropriate funds towards Vail Village snowmelt repairs with a reduced scope ($900.0K) 2024: Replacement and Repairs of 18 yr. old streetscape and snowmelt infrastructure (piping) in Vail Village; Re-appropriate funds for ongoing Vail Village Streetscape/Snowmelt repair ($2.6M) Lionshead Streetscape/Snowmelt Replacement (VRA)250,000 70,901 179,099 - 50,000 50,000 2024/2025: Re-appropriate funds as contingency for snowmelt repairs ($50.0K) Total Road and Bridge 9,508,179 3,414,472 6,093,707 2,020,000 3,840,669 27,082 5,887,751 Technology Town-wide camera system 30,000 - 30,000 50,000 50,000 2024/2025: Annual maintenance Audio-Visual capital maintenance 150,000 156,391 (6,391) 100,000 100,000 2025: Update of A/V systems in Council Chambers, Grandview/Library/Community room/Donovan A/V systems; Replacement cycle every 3-5 years ($100K) Cybersecurity 125,000 89,303 35,697 140,000 140,000 Annual Investment in cybersecurity, to keeps up with the ongoing changes that are required to maintain a safe and secure computing environment Software Licensing 865,000 816,031 48,969 959,135 36,000 995,135 Annual software licensing and support for town wide systems (3% Annual Increase); 2025: UbiPark annual fees - implemented Fall 2024 ($36.0K) Hardware Purchases 75,000 74,146 854 90,000 90,000 2024/2025: Workstation replacements (20-25 per year) Website and e-commerce 70,000 67,955 2,045 75,000 75,000 2024/2025: Annual website maintenance (3% Annual Increase) Fiber Optics / Cabling Systems in Buildings 795,626 75,677 719,949 50,000 719,949 769,949 2025: Repair, maintain & upgrade cabling/network Infrastructure ($50K); 2025: Reappropriate funds towards ongoing design of redundant Fiber Optic paths in the Town ($719.9K) Network upgrades 150,000 81,424 68,576 150,000 150,000 2024/2025: Computer network systems - replacement cycle every 3-5 years ($150K) Data Center (Computer Rooms)150,000 150,000 150,000 150,000 2024/2025: Annual data center maintenance ($150K) Data Center equipment replacement 1,750,000 1,867,070 (117,070) - - 2024: Replacement of data center main stacks ($1.75M) Broadband (THOR)110,000 107,658 2,342 115,000 115,000 2024/2025: Annual Broadband Expenses (3% Annual Increase) Business Systems Replacement 90,000 71,969 18,031 185,000 18,031 237,200 440,231 2025: Placeholder for Human Resources/Enterprise Information System ($120.0K); Employee Housing Unit compliance software ($35.0K); Re-appropriate funds for ongoing Budget Software Implementation ($18.0K); Strategic Planning Milestone tracking software ($49.9K); Parking data reporting software ($17.3K); $150.0K increase in HR/Enterprise IS system to include replacement of the payroll system 2024: Re-appropriate funds for HR performance management system ($17.5K) and budget software ($40K); Budget software price increase funded with 2023 savings from other business systems ($32.5K); 2025/2027/2029: Placeholder for Parking System Upgrades/Enhancements (Every other year) ($30.0K) Total Technology 4,360,626 3,407,623 953,003 2,064,135 737,980 273,200 3,075,315 131 Preliminary Variance Proposed 2024 2024 Favorable/2025 2025 Amended Actuals (Unfavorable)Budget Reappropriations New Requests Amended TOWN OF VAIL 2025 PROPOSED AMENDED BUDGET SUMMARY OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE CAPITAL PROJECTS FUND 1st Supplemental Public Safety Public Safety IT Equipment 40,000 31,179 8,821 75,000 75,000 Annual Maint/Replacement of PD IT Equipment including patrol car and fire truck laptops and software used to push information to TOV and other agencies; TOV portion of annual Intergraph software maintenance Public Safety Equipment 229,204 228,604 600 241,387 241,387 2025: Purchase of Skydio X10 Drones ($48.4K); 2025: Annual Axon Body-Worn Camera Equipment Annual Cost ($125.6K); Flock LPR Equipment Annual Cost ($15.0K); Drones software & warranty annual costs ($12.6K) 2024: Acquisition of two police K9s ($41.0K) and associated vehicle modifications ($7.4k); Axon contracting error ($40.2K) Terradyne Public Safety Vehicle 145,000 - 145,000 - 145,000 145,000 2025: Re-appropriate TOV contribution for vehicle awaiting delivery ($145.0K) 2024: $145,000 for the Town of Vail contribution towards the acquisition of a terradyne armored vehicle by the Eagle County Special Operations Unit (Maintenance cost to be funded by the Town of Avon) - Shared cost with Eagle County, Town of Avon, and Town of Eagle Fire Safety Equipment 5,296 5,296 - 45,000 45,000 2025: Knox Box System Replacement/Upgrade ($45.0K): Drone Expansion ($16.0K); Extrication Equipment ($35.0K) Event Equipment 73,007 74,659 (1,652) - - 2024:Santa's Village ($75.0K); Radio Equipment replacement/expansion - - - 1,020,000 1,020,000 2025: Replacements of radios for PW, PD and Fire (approximately every 5 years) ($1.0M) Fire Truck Replacement 1,723,309 1,653,199 70,110 - 70,110 70,110 2025: Re-appropriate remaining funds for Enforcer Aerial Ladder Truck Upfitting ($70.1K) 2024: Remaining costs for Type 3 Engine Upfitting ($19.2K), Aerial Apparatus Upfitting ($760.4K); Re-appropriate Enforcer Aerial Ladder Truck received in 2024 ($936.3K) Total Public Safety 2,215,816 1,992,937 222,879 1,381,387 215,110 - 1,596,497 Community and Guest Service Children's Garden of Learning Temporary Facility Relocation 32,248 - 32,248 - - 2024: Replacement and repairs of gutters and heat tape ($32.2K) Children's Garden of Learning Capital Maintenance - - - - 32,248 2025: West Side Siding replacement due to warping from weather exposure utilizing 2024 savings in gutter/heat tape replacement ($32.2K) Loading and Delivery Capital 126,815 124,885 1,930 - - 2024 includes 3 club car purchases, in addition to the four purchased in 2023 Energy Enhancements 114,130 51,258 62,872 130,000 62,872 192,872 2024: Re-appropriate funds for Public Works Shop EV Chargers and electrical service upgrade ($61.6K); 2025: Utilize 2024 savings in new charger installations towards upgrading existing Level 2 Wiring and addition of Tesla chargers to Level 3 stations in Lionshead Parking Structure ($62.9K) 2024-2029: Installation of EV stations to meet increased demand. There is potential for grants to offset the initial capital cost of the equipment and installation Pedestrian Safety Enhancements 366,213 - 366,213 200,000 366,213 566,213 2025: Design of Pedestrian improvements through Main Vail Underpass ($200.0K); Re- appropriate funds towards RFP Crossing near Safeway to be constructed this year ($366.2K) 2024: $16K for lighting crossing at Safeway; $350K Construction of RRFB Pedestrian Crossing at Safeway Bollard Installation Project 483,536 93,789 389,747 - 389,747 389,747 2025: Re-appropriate ongoing bollard installation project partially offset by MMOF Grant funding ($389.7K) 2024: Installation of retractable and standard bollards at Ford Park ($650K) offset by $250K MMOF Grant; Re-appropriate funds for ongoing bollard installation project less $45K in funds shifted to loading and delivery project ($483.5K) Underground Utility improvements 4,187,838 6,280 4,181,558 - 4,181,558 4,181,558 2025: Re-appropriate underground HCE from Main Vail to East Vail in conjunction with fiber conduit scheduled to begin in 2025 ($4.2M) 2024: Underground HCE from Main Vail to East Vail in conjunction with fiber conduit ($1.7M) offset by reimbursement above; Re-appropriate unspent 2023 funds towards project ($2.5M) 132 Preliminary Variance Proposed 2024 2024 Favorable/2025 2025 Amended Actuals (Unfavorable)Budget Reappropriations New Requests Amended TOWN OF VAIL 2025 PROPOSED AMENDED BUDGET SUMMARY OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE CAPITAL PROJECTS FUND 1st Supplemental Guest Services Enhancements/Wayfinding 759,416 57,028 702,388 - 717,413 717,413 2025: Re-appropriate funds towards ongoing replacement of damaged signs ($6.9K); Utilize savings from electric bus signage project towards ongoing replacement of damaged signs ($15.0K); Re-appropriate ongoing installation of new signage to guide guests to available parking ($695.5K) 2024: Completion of wayfinding signs project ($759.4K) Electric Vehicle Pilot Program 78,615 66,500 12,115 - - 2024: Purchase of Ford F150 lightning for pilot testing ($78.6K) Vehicle Expansion 326,815 340,127 (13,312) 65,000 45,974 110,974 2025: Vehicle for Deputy Chief of Community Risk Reduction position (added in 2024); Upfitting of final two PD take-home expansion vehicles ($46.0K) 2024: 2 PD take-home vehicles, final stage of program implementation ($133K) Total Community and Guest Service 6,475,626 739,867 5,735,759 395,000 5,654,931 141,094 6,158,777 Total Expenditures 48,850,473 22,946,265 25,904,208 10,154,697 22,556,388 1,262,844 33,941,681 Dobson Financing Sources (Uses) Transfer from RETT - - - 762,546 (15,397) 747,149 Transfer Dobson maintenance budget from RETT 5 year plan; Reduce funds available for transfer used for repairs completed in 2024 ($15.4K) Transfer from Vail Reinvestment Authority 3,896,275 2,154,369 1,741,906 4,361,633 1,741,906 6,103,539 2024: Re-appropriate transfer from VRA for Dobson Redevelopment ($1.7M) Dobson Loan Proceeds (VRA)- - - 24,730,000 24,730,000 Assumed conservative financing approach with VRA loan (still to be determined) Dobson Redevelopment (3,896,275) (2,154,369) 1,741,906 (50,350,000) (1,741,906) (52,091,906) 2025: Estimated cost for Dobson redevelopment assumed to be funded by VRA loan proceeds (29.4M); VRD ($3.0M); RETT($762.5K); and CPF ($17.2M); Reappropriate funds towards ongoing Dobson Arena Redevelopment to begin construction in spring ($1.7M) Total Dobson Financing Sources (Uses)- - 3,483,812 (20,495,821) (15,397) - (20,511,218) Other Financing Sources (Uses) Debt Service Payment (1,158,592) (1,159,842) (1,250) (1,158,298) (1,158,298) PW Shops Debt Service Payment Transfer from Vail Reinvestment Authority 717,565 270,901 (446,664) - - 2024: Transfer for VRA projects, including: Frontage Road improvements from VVMC to LHTRC ($235.3K); CGL Temporary Facility Relocation ($32.2K); Lionshead Streetscape and Snowmelt Replacement ($3.9M); Lionshead Parking Structure Capital Maintenance ($200.0K) Transfer to Internal Employee Housing Fund - - - - (52,631) (52,631) Transfer to Internal Employee Housing Fund to offset purchase of Employee Rental Units; 2025: Transfer to IEHRF for incomplete remodel projects on new units from 2024, including Buffehr Creek Unit window replacements ($52.6K) Transfer to Housing Fund (2,808,799) (2,808,799) - (2,500,000) (2,500,000) 2024: Repayment to Housing fund for Northtrail Unit D retained as a TOV Employee Housing unit ($308.8K); Annual $2.5M appropriation towards community housing projects (Transfer to Housing Fund) Transfer to Housing Fund (W. Middle Creek)- - - (9,000,000) (1,000,000) (10,000,000) Loan to HF for W. Middle Creek (Increase total to $10.0M Previously in GF) Transfer from Marketing Fund 73,007 68,652 (4,355) - - 2024: Transfer from Marketing Fund storage container ($6.0K); Transfer from the Marketing Fund for four additional house structures for the Kringle Krossing holiday village ($67.0K) Transfer from General Fund 48,363 48,295 - - 2024: Re-appropriate Transfer from Police Seizure Funds to cover K-9 acquisitions ($41K) and K9 Vehicle mods (7K) Total Other Financing Sources and Uses (3,128,456) (3,580,794) (452,269) (12,658,298) (1,052,631) - (13,710,929) Revenue Over (Under) Expenditures (21,414,084) 661,030 (26,249,422) (23,325,680) (20,480,544) (1,262,844) (45,036,820) Beginning Fund Balance 48,960,704 48,960,705 49,621,735 49,621,735 Ending Fund Balance 27,546,620 49,621,735 26,296,055 4,584,915 Fund Balance as a percentage of Sales Tax revenue 177%287%165%29%Minimum 25% of sales tax revenues 23,127,008 133 Proposed 2024 2024 Under/2025 Amended Actual (Over)2025 Reappropriations New Requests Amended Revenue Real Estate Transfer Tax 8,212,318$ 9,349,910$ 1,137,592$ 7,700,000$ 7,700,000$ 2025 down 2.6% from 2024 forecast; 2026-2029 1.0% annual increase Golf Course Lease 175,151 191,285 16,134 176,903 14,382 191,285 Annual lease payment from Vail Recreation District; Rent income funds the "Recreation Enhancement Account" below; 2025: Increase based on CPI true-up per lease agreement ($14.4K) Intergovernmental Revenue 850,960 372,095 (478,865) 155,000 216,192 371,192 2025: Roll forward remaining ERWSD reimbursement for Dowd Junction stabilization ($205.3K); Roll forward remaining Bear Education Grant from Colorado Parks and Wildlife ($10.8K); USFS Grant for Booth Creek Fuels Reduction ($125K) 2024/2025: $30K lottery proceeds used annual for park projects; 2024: $240K CDPHE Grant for water quality projects; Re-appropriate Eco Trails Reimbursement for Dowd Junction ($150.0K) and remaining ERWSD Reimbursement for Dowd Junction ($312.2K); Re-appropriate remaining CDPHE Water Quality Grant ($22.9K); Re-appropriate unused potion of CPW Bear Education Grant ($10.8K); Eagle County reimbursement for wildfire risk reduction ($55.0K); Reimbursement from the Vail Recreation District for the Golf Course Stormwater Study ($30.0K) Project Reimbursements 85,200 26,581 (58,619) - 75,000 75,000 2025: Roll forward Middle Creek restoration contribution from Evergreen Redevelopment ($75.0K) 2024: Evergreen Redevelopment Project Reimbursement for Middle Creek Restoration Fund ($75K) Donations 38,156 35,650 (2,506) - 10,000 10,000 2025: Kosloff Foundation and Winmax Foundation Donations towards Winterfest ($10.0K) 2024: Logan donation towards Artist in Residency sculpture acquisition Recreation Amenity Fees 10,000 6,609 (3,391) 10,000 10,000 $10K annually Bag Fees 104,280 104,280 - 50,000 50,000 2025: Utilize bag fees towards two Hard to Recycle events ($50K) 2024: Utilization of bag fee towards recycling center catwalk replacement ($9.0K); Utilize bag fees for Zero Hero Waste Program ($38.8K) Earnings on Investments and Other 758,571 736,269 (22,302) 213,405 213,405 2025: 3% return assumed; 2026-2029: 2.5% return assumed Total Revenue 10,234,636 10,822,679 588,043 8,305,308 291,192 24,382 8,620,882 Expenditures Management Fee to General Fund (5%)410,616 467,495 (56,879) 385,000 385,000 5% of RETT Collections - fee remitted to the General Fund for administration Wildland Forest Health Management 725,415 558,288 167,127 744,450 744,450 Annual operating expenditures for Wildland department; 2025 includes: -$699.3K: Personnel -$5.0K: Miscellaneous Educational Programming (Ongoing) Wildfire Mitigation 35,000 2,020 32,980 385,000 - 385,000 2025: Booth Creek Fuels Implementation, partially offset by USFS grant ($275.0K); Booth Heights and Booth Creek Trailhead Fuels Reduction ($100k) 2024: Annual support for wildfire mitigation projects as identified in the 2020 Vail Community Wildfire Protection Plan ($10.0K); Burn prep and fuels reduction on Bald Mountain Road funded by Eagle County($25.0K) Fire Free Five - Rebate Program 173,189 87,054 86,135 50,000 86,135 136,135 2025: Annual Funding for Fire Free Five Community Assistance Program ($50K); Re-appropriate funds towards ongoing Fire Free Five rebate program 2024: $100K for the Fire Free Five Community Assistance Program; Re-appropriate remaining funds towards ongoing Fire Free Five rebate program ($73.2K); TOWN OF VAIL 2025 PROPOSED AMENDED BUDGET SUMMARY OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE REAL ESTATE TRANSFER TAX FUND 1st Supplemental 134 Proposed 2024 2024 Under/2025 Amended Actual (Over)2025 Reappropriations New Requests Amended TOWN OF VAIL 2025 PROPOSED AMENDED BUDGET SUMMARY OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE REAL ESTATE TRANSFER TAX FUND 1st Supplemental Fire Free Five - TOV Implementation 80,000 49,644 30,356 - 25,000 25,000 2025: Re-appropriate funds for Fire Free Five landscaping around gymnastics center ($30.4K); 2024: $80K Continuation of Fire Free Five at TOV facilities Total Wildland 1,013,604 697,006 316,598 1,179,450 111,135 - 1,290,585 Parks Annual Park and Landscape Maintenance 2,455,201 1,891,389 563,812 2,078,443 107,500 2,185,943 Annual operating expenditures for Parks department (including personnel and supplies); 2025 includes: -$1.3M: Personnel -$20.0K: Trail Host Program (Ongoing) -$56.0K: Increase cleaning of Parks Restrooms and Portalets -$51.5K: Increase Water utility budget based on ERWSD rate increases during 2024 and 2025 Park / Playground Capital Maintenance 219,000 165,035 53,965 231,000 50,000 281,000 2025:Annual maintenance items include projects such as playground surface refurbishing, replacing bear-proof trash cans, painting/staining of play structures, picnic shelter additions/repairs, and fence maintenance ($169K); 2025 includes Ford Park Entry Landscape ($45.0K); Re-appropriate funds towards ford Park Entry landscape improvements near Amp Bridge entry ($40.0K) 2024: Improvements of deteriorating wooden structures at Sunbird Park ($40.0K); Tree Maintenance 145,000 138,606 6,394 85,000 6,000 91,000 Annual on going pest control, tree removal and replacements in stream tract, open space, and park areas; 2025: Re-appropriate funds towards new plantings to replace trees removed in 2024 ($6.0K) Street Furniture Replacement 107,000 19,656 87,344 35,000 72,000 107,000 2025:Annual Placeholder for Street Furniture Replacements ($35.0K) 2024/2025: Re-appropriate funds for ongoing Village and Lionshead picnic table replacement ($72.0K) Village Art Landscape Enhancements 25,000 25,000 35,000 25,000 60,000 2025: Landscape enhancements for new Art installations/donations ($35.0K); 2025: Re-appropriate funds for landscape enhancements around art installations ($25K) Stephens Park Safety Improvements 19,904 13,250 6,654 - - 2024: Remaining park equipment cost ($4.9K); Installation of a split-rail fence between park and frontage road ($15.0K) Ford Park- Betty Ford Way Pavers 50,000 - 50,000 - 40,000 40,000 2025: Re-appropriate towards final gravel shoulder grading repair and landscaping ($40.0K) 2024: Grading and landscape final touch up at streamwalk entrance and guardrail ($50.0K) Ford Park Enhancement: Priority 3 Landscape area 5,946 - 5,946 - - 2024: $5.9K towards on-going landscape repairs and plant material replacement Ford Park Lower Bench Turf/Irrigation - - - 300,000 300,000 2025: Replacement of worn turf grass and inefficient irrigation system ($300.0K) Ford Park Playground Improvements 497,804 70,277 427,528 - 125,000 125,000 2025: Re-appropriate funds towards replacement of wood fiber play surface under swings with rubber surfacing for better durability ($125.0K) 2024:$497.8K for Ford Park playground improvements Ford Park Master Plan Capital Design 200,000 91 199,909 - 199,909 199,909 2025: Re-appropriate funds for outcomes of Ford Park Masterplan Update. Projects include a park-wide ADA compliance Study, site planning for future facilities including a picnic shelter and expanded maintenance areas, wayfinding, etc. ($199.9K); 2024: Design for ADA compliant routes and Tennis Center renovation 135 Proposed 2024 2024 Under/2025 Amended Actual (Over)2025 Reappropriations New Requests Amended TOWN OF VAIL 2025 PROPOSED AMENDED BUDGET SUMMARY OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE REAL ESTATE TRANSFER TAX FUND 1st Supplemental Turf Grass Reduction 150,000 64,164 85,836 15,000 85,836 100,836 2025: Additional funds for Main Vail Roundabout Turf Reduction ($15.0K); Re-appropriate funds towards ongoing Main Vail Roundabout turf reduction ($85.8K) 2024: Continuation of Turf Grass Reduction projects at Main Vail and West Vail Roundabouts and Municipal Building Donovan Park Improvements 20,000 - 20,000 - 20,000 20,000 2025: Replacement of play equipment ($20.0K) Pirateship Park Improvements 300,000 221,138 78,862 - 43,862 43,862 2025: Re-appropriate funds towards ongoing improvements including two play components and minor ADA upgrades ($43.9K) 2024: Safety improvements: replace wood siding and add climber Bighorn Park Playground Improvements - - 150,000 150,000 2025: Bighorn Park Play Area Maintenance ($150.0K) Gore Creek Promenade Rehabilitation 368,897 40,437 328,460 750,000 368,460 1,118,460 2025: Re-appropraite funds towards ongoing refresh of the Gore Creek Promenade ($328.5K); Reclass children's fountain steps at promenade to be done as part of this project ($40.0K) Steps between Gore Creek Promenade and Children's Fountain 40,000 - 40,000 - - 2024: Tree removal and landscaping on steps from Children's Fountain to Gore Creek Promenade ($40.0K);Reappropriated above in Gore Greek promenade Rehabilitation Slifer Fountain Feature Four Repair 75,000 - 75,000 - 75,000 75,000 2025: Re-appropriate funds towards incomplete plumbing leak; further investigation needed prior to repair ($75.0K) 2024: Repair plumbing leak in feature supply line in Slifer Plaza ($75k) Total Parks 4,678,752 2,624,042 2,054,710 3,679,443 1,111,067 107,500 4,898,010 Rec Paths and Trails Rec. Path Capital Maintenance 175,000 28,776 146,224 85,000 85,000 Annual Capital maintenance of the town's recreation path system ($85k); 2024: Recreation path improvements ($65K); Shouldering improvements ($25K) Recreation Path Safety Improvements 75,000 43,338 31,662 50,000 31,662 81,662 2025: Pedestrian Traffic Counters ($50.0K); Re-appropriate funds towards next phase of Antlers curve redesign ($31.7K) 2024: Design of recreation path safety improvements ($75K) Bike Safety 10,000 - 10,000 10,000 10,000 2024-2029: Annual cost for bike safety programs ($10.0K) Bike Path Signage 46,081 - 46,081 - - 2024: Re-appropriate funds towards replacement of bike wayfinding signage, striping, and etiquette signage town-wide Pedestrian Bridge Projects 882,988 179,659 703,329 - 703,329 703,329 2025: Re-appropriate funds towards ongoing pedestrian overpass rehabilitation and outcomes of upcoming pedestrian bridge report ($703.3K) 2024: $550K for pedestrian overpass; Re-appropriate $333.0K for pedestrian overpass rehabilitation Gore Valley Trail Reconstruction - - 180,000 146,224 326,224 2025: Placeholder for Gore Valley Trail Maintenance ($80.0K); Library to Lionshead Nature Walk Environmental Assessment and Design ($100.0K); Utilize 2024 savings in the recreation path maintenance budget towards the rebuild of 1250' of the North Recreation Trail between Red Sandstone Road and the pedestrian overpass ($146.2K) 136 Proposed 2024 2024 Under/2025 Amended Actual (Over)2025 Reappropriations New Requests Amended TOWN OF VAIL 2025 PROPOSED AMENDED BUDGET SUMMARY OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE REAL ESTATE TRANSFER TAX FUND 1st Supplemental East Vail Interchange Improvements 204,543 - 204,543 - 150,543 40,000 190,543 2025: Re-appropriate funds for repairs due to landscaping and drainage issues, including plantings and parking area improvements ($190.5K); Additional funds using 2024 savings in Water Quality Infrastructure for drainage improvements including additional concrete gutters to direct to water quality vaults and bioswale areas, and the replacement of plantings ($40.0K) 2024: Development of a landscape improvement plan due to landscaping and drainage issues ($204.6K) Dowd Junction repairs and improvements 817,663 363,869 453,794 - 453,794 453,794 2025: Re-appropriate funds for ongoing restabilitzation of Dowd Junction retaining wall ($454.0K) 2024: Ongoing restabilitzation of Dowd Junction retaining wall ($817.7K) Portalet Enclosures 53,130 12,630 40,500 - 40,500 40,500 2025: Re-appropriate funds towards screening in residential-area portalets ($40.5K) 2024: Installation of screens received in 2023 ($8.1K) Booth Lake Trailhead Parking Restroom 2,500 - 2,500 - - 2024:Final landscaping costs ($2.5K) Total Rec Paths and Trails 2,266,905 628,273 1,638,632 325,000 1,379,828 186,224 1,891,052 Recreational Facilities Golden Peak Pickleball Sound Barriers 1,498 - 1,498 - - 2024: Purchase of remaining panels ($1.5K) Nature Center Operations 112,654 109,373 3,281 117,437 117,437 Nature Center operating costs Nature Center Capital Maintenance 8,064 3,693 4,371 26,291 26,291 2025: Signage ($16.6K); 2025: Regravel access road ($9.7K) 2024: Path and walkway repairs ($8.1K) Nature Center Redevelopment 383,522 - 383,522 - - 2024: $383.5K for further planning and design for a nature center remodel; Nature Center Construction is currently unfunded Total Recreational Facilities 505,738 113,066 392,672 143,728 - - 143,728 Environmental Environmental Sustainability 814,006 813,013 993 884,177 884,177 Annual operating expenditures for Environmental department (includes personnel supplies) 2025 includes: -$749.3K: Personnel -$55.0K: Climate Action Collaborative Dues (ongoing) Recycling and Waste Reduction Programs 206,880 129,034 77,846 127,050 15,000 142,050 Annual recycling and waste reduction programs; 2025 includes: -$40.1K: Residential/Commercial Recycling Compost Program/Hauls (Ongoing) -$7.5K: Recycling Compliance and Education (Ongoing) -$38.8K: Zero Hero Program Support (Ongoing) -$39.0K: Hard to Recycle Event, offset by Bag Fees (Ongoing) -$15.0K: Re-appropriate Business Compost pilot program ($15.0K) Recycling Center Catwalk Replacement 16,500 16,406 94 - - 2024: Re-appropriate catwalk replacement at recycling center ($16.5K) - Funded with $9K of bag fees 137 Proposed 2024 2024 Under/2025 Amended Actual (Over)2025 Reappropriations New Requests Amended TOWN OF VAIL 2025 PROPOSED AMENDED BUDGET SUMMARY OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE REAL ESTATE TRANSFER TAX FUND 1st Supplemental Ecosystem Health 622,884 246,866 376,018 281,000 200,000 100,000 581,000 Annual ecosystem health programs; 2025 includes: -$18.0K: CC4CA Annual Retreat - Host Community (Ongoing) -$50.0K: Open Lands Plan - Biodiversity Study Phase 2 (Ongoing) -$8.0K: Sustainable Destinations - Annual Certification Dues (Ongoing) -$55.0K: U.S. Forest Service Front Country Ranger Program (Ongoing) -$100.0K: Wildlife Habitat Improvements, Forum, and Education (Ongoing) -$50.0K: Gore Creek Pesticide Campaign (2025-2026) -$189.1K: Re-appropriate placeholder for CSU Biodiversity Study implementation intitiatives -$100.0K: Utilize savings from 2024 wildlife safe passage study towards habitat improvement, booth creek weed control, and revegetation/fuels work -$10.8K: Re-appropriate ongoing Bear Aware Campaign Energy & Transportation 95,656 52,344 43,312 75,000 19,000 94,000 Annual energy and transportation programs; 2025 includes: -$40.0K: Energy Smart Colorado Partnership (Ongoing) -$2.5K: Energy-Related education, outreach, program incentives (Ongoing) -$32.5K: Sole Power Plus Program (Ongoing) -$19.0K: Re-appropriate ongoing GHG Inventory work ($19.0K) E-Bike Programs 243,000 230,810 12,190 193,000 193,000 Annual E-Bike Programs; 2025 includes: -$175.0K: Shift E-Bike Share Program (Ongoing) -$18.0K: E-Bikes for Essentials Ownership Program (Ongoing) E-Bike Share Infrastructure 14,711 - 14,711 - 14,711 14,711 E-Bike Share Infrastructure- Gravel pads and bike racks; 2025: Re-appropriate funds as placeholder for additional gravel pads and bike racks at redevelopment locations ($14.7K) Sole Power App 50,000 42,000 8,000 25,000 8,000 2,000 35,000 2025: Development of App modifications for the Sole Power Plus App Expansion ($25K); 2025: Re-appropriate funds towards original app development ($8.0K); Additional development funds to connect app to Town's Cloud service ($2.0K) Streamtract Education/Mitigation 30,000 22,963 7,037 75,000 75,000 Annual streamtract education programming; 2025 includes: -$30.0K: General education programming (Ongoing) -$45.0K: Restore the Gore Campaign Relaunch (One-time) Water Quality Infrastructure 195,007 - 195,007 - - 2024: Ongoing water quality infrastructure project ($195.0K) Water Quality Maintenance 350,000 231,562 118,438 - 96,729 25,000 121,729 2025: Ongoing cleaning of gutter bins and water quality vaults to be located in Streets Maintenance within the General Fund; Re-appropriate Golf Course water quality study and vegetative plan ($96.2K); Additional funds for stakeholder engagement related to water quality study ($25.0K) 2024: Annual cleaning and draining of frog gutter bins and water quality vaults; placeholder for updated water quality study ($75K); Increase in cost of cleaning of frog gutter bins and water quality vaults based on higher-than-expected spring-time cleaning costs ($35K); Increase in cost for golf course water quality study, offset by reimbursement from VRD ($30.0K) Streambank Mitigation 35,000 2,500 32,500 140,000 140,000 2025: Streambank Mitigation at Ford Park in conjunction with in-stream improvements by Trout Unlimited ($100.0K); Streambank Mitigation along Mill Creek ($40.0K); 2024: Re-appropriate funds for streambank planting project ($35K) 138 Proposed 2024 2024 Under/2025 Amended Actual (Over)2025 Reappropriations New Requests Amended TOWN OF VAIL 2025 PROPOSED AMENDED BUDGET SUMMARY OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE REAL ESTATE TRANSFER TAX FUND 1st Supplemental Middle Creek Restoration Fund 75,000 - 75,000 - 75,000 75,000 2025: Re-appropriate funds towards the restoration of Middle Creek on TOV property in relation to the Evergreen redevelopment project. This will be reimbursed by the developer ($75.0K) 2024: The Evergreen redevelopment project is required to provide a restoration plan for Middle Creek. The property is owned by the Town of Vail. The Town will fund the restoration plan and be reimbursed by the developer (reimbursement included above) Private Streambank Mitigation Program 80,000 5,779 74,221 - 50,000 50,000 2025: Private Streambank Mitigation Program; 2025: Re-appropriate funds towards continuation of private streambank mitigation ($50.0K) Booth Heights Open Space 19,472,370 19,787,339 (314,969) - - 2024: Booth Heights Aqisution costs; includes legal Gore Creek Interpretive Signage 222,165 199,078 23,087 - - 2024: Re-appropriate funds towards ongoing project ($190.5K); New request of $32K for Gore Creek signage using savings from the 2023 streambank restoration project for increased costs Energy Efficiency Performance Contract 150,000 44,842 105,158 - 105,158 105,158 2025: Re-appropriate funds towards ongoing Energy Audit ($105.2K) 2024: Placeholder for an energy audit to facilitate energy upgrades, potentially through an Energy Efficiency Performance Contract Total Environmental 22,673,179 21,824,536 848,643 1,800,227 583,598 127,000 2,510,825 Art Public Art - Operating 188,525 169,263 19,262 196,599 196,599 Annual operating expenditures for Art in Public Places department; 2025 includes: -$25.0K: miscellaneous Programs & Events (Ongoing) Public Art - General program / art 173,167 62,600 110,567 60,000 110,567 170,567 2025: Re-appropraite unspent funds ($110.6K) 2024: Annual funds purchase sculptures, artwork, art programs and events; remainder is re- appropriated each year to accumulate enough funds. Public Art - Winterfest 79,383 35,416 43,967 30,000 43,967 10,000 73,967 2025: $30K Winterfest budget; Increase Winterfest budget utilizing Kosloff Foundation and Winmax Foundation donations ($10.0K); Re-appropriate funds for Winterfest program ($44.0K) Seibert Memorial Statue- Maintenance 11,692 500 11,192 - 11,192 11,192 2025: Re-appropriate donated funds towards upkeep of sculpture ($11.7K) Art Space 1,420,375 456,943 963,432 - 1,015,232 1,015,232 2025: Re-appropriate funds towards construction of Art Space Studio in Ford Park anticipated to be completed in Summer of 2025 ($963.4K); Additional request for funding to connect Art Space Studio HVAC to existing Geothermal Test Well, offset by budget reduction in CPF Geothermal Project ($51.8K) 2024: Re-appropriate funds towards construction of Art Space Studio in Ford Park ($1.4M) Artist In Residency - Operating 30,000 10,263 19,737 70,500 70,500 2024/2025: Operating costs for artist in residency program utilizing the new Art Space Artist In Residency - Capital Art Acquisitions 20,000 - 20,000 37,500 20,000 57,500 2024/2025: Capital art acquisition costs associated with artist in residency program; 2025: Re- appropriate unspent funds towards 2025 program ($20.0K) Total Art 1,923,142 734,984 1,188,158 394,599 1,200,958 10,000 1,595,557 Community Council Contribution: Betty Ford Alpine Garden Support 79,195 79,195 - 80,779 80,779 Annual operating support of the Betty Ford Alpine Gardens; annual increase to follow town's general operating annual increase Council Contribution: Eagle River Watershed Support 42,000 42,000 - 42,000 42,000 Annual support of the Eagle River Watershed Council programs Council Contribution: Trail Alliance 17,500 17,500 - 22,500 22,500 Adopt A Trail Council Contribution for trails in or bordering the Town Total Contributions 138,695 138,695 - 145,279 - 145,279 139 Proposed 2024 2024 Under/2025 Amended Actual (Over)2025 Reappropriations New Requests Amended TOWN OF VAIL 2025 PROPOSED AMENDED BUDGET SUMMARY OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE REAL ESTATE TRANSFER TAX FUND 1st Supplemental VRD-Managed Facilities & Maintenance Recreation Enhancement Account 539,321 - 539,321 176,903 569,837 746,740 Annual rent paid by Vail Recreation District; to be re-invested in asset maintenance; 2024: Re- appropriate funds to be re-invested in maintenance ($354.9K); Additional $9.3K for lease payment collected over budget; 2025: Annual Rent Paid by Vail Recreation District; to be re- invested in asset maintenance ($176.9K); 2025: Roll forward unspent Enhancement Funds ($539.3K); Increase for $16.1K paid above budget in 2024; Increase for $14.3K based on 2025 CPI true-up Recreation Facility Maintenance 22,000 - 22,000 22,000 22,000 2025: RETT facility maintenance ($22.0K) Synthetic Turf Replacement 472,000 - 472,000 - 472,000 472,000 2025: Re-appropriate funds towards synthetic turf replacement ($472.0K) Golf Clubhouse 12,484 23,393 (10,909) 123,287 123,287 2025: Circulation Pump Replacement ($98.0K); Clubhouse parking lot mill & overlay ($23.9K); Clubhouse Signage ($9.4K) 2024: Heat tape replacement ($13.7K) Athletic Field Restroom/Storage Building 1,000,000 - 1,000,000 - 1,000,000 1,000,000 2025: Re-appropriate $1.0M for the replacement of existing restroom/concession with new 2000 sq. ft. restroom/storage building 2024: Re-appropriate $1.0M for the replacement of existing restroom/concession with new 2000 sq. ft. restroom/storage building Golf Course - Other 432,069 - 432,069 3,954 432,069 436,023 2025: Maintenance building asphalt driving and parking area ($4.0K); Re-appropriate funds towards ongoing routine projects with VRD including Streambank Restoration ($432.1K) Dobson Ice Arena 643,731 15,397 628,334 - - 2024-2025: Utilize Savings in Dobson Maintenance towards Redevelopment Ford Park / Tennis Center Improvements 150,854 - 150,854 54,166 150,854 205,020 2025: Wood siding and windows ($54.2K); Re-appropriate funds towards Tennis Center Improvements ($150.9K) 2024: Furnace, hot water tank, baseboards replacement ($13.3K); Re-appropriate funds towards incomplete projects ($137.6K) Athletic Fields 116,547 42,057 74,490 99,319 74,490 173,809 2025: Asphalt parking lot ($99.3K); Re-appropriate funds towards ongoing improvements ($74.5K) Gymnastics Center 711,494 350,436 361,058 3,863 361,058 364,921 2024/2025: Replace airconditioning unit Total VRD-Managed Facilities & Maintenance 4,100,500 431,283 3,669,217 483,492 3,060,308 - 3,543,800 Total Expenditures 37,711,131 27,659,380 10,051,751 8,536,218 7,446,894 430,724 16,403,836 Other Financing Sources (Uses) Transfer from General Fund - Other 2,880 2,880 - - - 2024: Transfer from General Fund for Clean-Up Day volunteer incentives Transfer (to) General Fund - Other (13,500) (13,500) - - - 2024: Transfer to General Fund for increase in budget and scope of Destination Stewardship Management Plan Transfer from/(to) CPF - - - (762,546) 15,397 (747,149) 2025: Transfer to Capital Projects Fund for Dobson Arena (utilizing savings in annual Dobson maintenance); Reduce transfer based on funds spent in 2024 ($15.4K) Revenue Over (Under) Expenditures (27,487,115) (16,847,320) 10,639,795 (993,456) (7,140,305) (406,342) (8,530,103) Beginning Fund Balance 31,887,550 31,887,550 15,040,230 15,040,230 Ending Fund Balance 4,400,435$ 15,040,230$ 14,046,774$ 6,510,127$ Minimum Fund Balance 2,000,000$ 2,000,000$ 2,000,000$ 2,000,000$ 140 2025 1st Proposed Budget Supplemental 2025 Amended Revenue Rental Revenue 1,191,354 64,416 1,255,770 Increased rental revenue for new Hamlet #3 and East Vail Lodging #35 units Total Revenue 1,191,354 64,416 1,255,770 Expenditures Salaries & Benefits 123,764 123,764 General Fund Administrative Fee 238,271 12,883 251,154 Increase administrative fee for new units Operational Costs 405,808 36,835 442,643 Increasd operational costs for new units Operational Maintenance 203,750 203,750 Unit Masterleases 61,200 61,200 Total Expenditures 1,032,793 49,718 1,082,511 Surplus (Deficit) from Operations 158,561 14,698 173,259 Capital Funding Sources/(Uses) Capital Maintenance of Units (150,000) (52,631) (202,631) Transfer from/(to) Capital Projects Fund - 52,631 52,631 Transfer from CPF for Capital Maintenance Net Capital Funding Sources/(Uses)(150,000) - (150,000) Surplus (Deficit) Net of Capital Items 8,561 14,698 23,259 Beginning Fund Balance - - Ending Fund Balance 8,561$ 23,259$ TOWN OF VAIL 2025 PROPOSED AMENDED BUDGET SUMMARY OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE INTERNAL EMPLOYEE HOUSING RENTAL FUND 141 TOWN OF VAIL 2025 PROPOSED AMENDED BUDGET SUMMARY OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE HOUSING FUND Preliminary Proposed 2024 2024 Under/2025 1st 2025 Amended Actuals (Over)Budget Supplemental Amended Revenue Housing Sales Tax 4,950,000$ 5,110,306$ 160,306$ 5,201,534$ 5,201,534$ 2025: 1% annual increase from 2024; 2026 - 2029: 2% annual increase Housing Fee in Lieu Annual Collections 46,199 46,199 - - - 2024: Utilize housing fee in lieu towards Buy Down housing Transfer from CPF - Reimbursement for North Trail Townhome Unit D (TOV unit)308,799 308,979 180 - - 2024: Repayment from CPF for North Trail Unit D Transfer in from Capital Projects Fund 2,500,000 2,500,000 - 2,500,000 2,500,000 Workforce Housing Sales 1,100,000 389,902 (710,098) - 625,000 625,000 2024: Estimated resale revenue for Pitkin Creek #3B and #14A; 2025: Roll forward resale revenue for Pitkin Creek #3B ($625.0K) Housing Late Fees - 3,750 3,750 - - Lionsridge Land Sale 4,995,455 4,995,455 - - - 2025: Lionsridge Land Lease Purchase Option Deed Restriction Buyouts 675,000 675,000 - 275,400 275,400 2025: Deed Restriction buyout at 363 Beaver Dam Circle Earnings on Investments 700,000 618,361 (81,639) 50,000 50,000 Total Revenue 15,275,453 14,647,951 (627,502) 7,751,534 900,400 8,651,934 Expenditures Housing Programs InDeed Program 3,019,645 134,000 2,885,645 1,500,000 2,885,645 4,385,645 Annual $2.5M transfer from CPF for InDeed/Community Housing; In 2025 $1.0M to be used for TR Habitat Contribution; 2025: Re- appropriate unspent InDeed funding ($2.9M) Buy Down Housing 150,904 - 150,904 - 150,904 150,904 2024: Utilize housing fee in lieu towards Buy Down housing; 2025: Re- appropriate utilization of housing fee in lieu towards Buy Down housing Future Purchases 1,500,000 - 1,500,000 2,275,000 1,500,000 3,775,000 Placeholder for Buy Down housing purchases; 2025: Re-appropriate unspent funding for future purchases ($1.5M) Pitkin Creek Unit #14A 5,816 5,815 1 - - Pitkin Creek Unit #3B 785,814 785,808 6 - - 2024: Utilize resale revenue of $625K and $160.4M of InDeed funds to purchase Pitkin Creek #3B Construction Housing Projects Timber Ridge Predevelopment 80,920 - 80,920 - - Timber Ridge Habitat Contribution - - - 2,000,000 2,000,000 $2.0M contribution to Habitat to Humanity for TR units W. Middle Creek Development Predevelopment 3,892,046 3,083,502 808,545 - 808,545 808,545 2025: Re-appropriate West Middle Creek predevelopment costs ($808.5K) W. Middle Creek Development Placeholder - - - 10,000,000 10,000,000 $10.0M placeholder for W. Middle Creek housing projects W. Middle Creek Development Legal Fee Contingency 50,000 - 50,000 - 50,000 50,000 2025: Re-appropriate placeholder for West Middle Creek legal costs ($50.0K) East Vail Parcel Predevelopment 400,000 - 400,000 - 400,000 400,000 2025: Re-appropriate placeholder for West Middle Creek legal costs ($400.0K) Residences at Main Vail Opportunity Fee 50,000 - 50,000 - 50,000 50,000 2024: Re-appropriation of remaining RMV opportunity fee; 2025: Re- appropriation of remaining RMV opportunity fee Land Purchases for future Housing CDOT Parcel Acquisition Placeholder - West Middle Creek 3,270,000 2,630,735 639,265 - - CDOT Parcel Acquisition Placeholder - East Vail 2,667,900 3,644 2,664,256 - 2,416,402 2,416,402 2024: Purchase of 1' wide stretch of land around CDOT parcel ($17.9K); 2025: Re-appropriate purchase of CDOT East Vail parcel ($2.4M) and 1' wide surrounding parcel ($17.9K) Eagle-Vail Parcel Placeholder 50,000 - 50,000 - 50,000 50,000 Total Expenditures 15,923,045 6,643,505 9,279,541 15,775,000 8,311,496 24,086,496 Operating Income (647,592) 8,004,447 (9,907,042) (8,023,466) (7,411,096) (15,434,562) Other Finance Sources (Uses Transfer from/(to) Timber Ridge- Site and Podium (9,093,105) (9,093,105) - - (10,541,295) (10,541,295) Transfer from/(to) Timber Ridge- CDOT Land Acquisition (1,719,650) (1,719,648) 2 - - Loan from/(repayment to) CPF/GF for Middle Creek - - - 10,000,000 10,000,000 Total Other Finance Sources (Uses)(10,812,755) (10,812,753) 2 10,000,000 (10,541,295) (541,295) Surplus (Deficit) Net of Transfers and One-Time Items (11,460,347) (2,808,306) 8,652,041 1,976,534 (17,952,391) (15,975,857) Beginning Fund Balance 18,784,163 18,784,163 7,323,815 15,975,856 Ending Fund Balance 7,323,815$ 15,975,856$ 9,300,349$ (0)$ 142 2024 2024 Under/2025 1st 2025 Amended Actuals (Over)Budget Supplemental Amended Revenue Town of Vail Interagency Charge 4,639,818$ 4,356,473$ (283,345)$ 5,000,479$ 5,000,479$ Insurance Reimbursements & Other 25,000 56,104 31,104 - - Intergovernmental Revenues - 21,589 21,589 - - Earnings on Investments 1,500 75,000 73,500 7,000 7,000 Equipment Sales and Trade-ins 196,227 243,999 47,772 317,070 317,070 Total Revenue 4,862,545 4,753,165 (109,380) 5,324,549 - 5,324,549 Expenditures Salaries & Benefits 1,440,075 1,371,439 68,636 1,575,281 1,575,281 Operating, Maintenance & Contracts 2,169,796 1,681,169 488,627 2,311,716 61,000 2,372,716 Increase Bus Charger 5-Year Warranty ($31.0K); Re-appropriate operational training for bus charging stations ($30.0K) Capital Outlay 2,729,522 1,378,807 1,350,715 1,603,200 1,350,715 2,953,915 Reappropriate vehicle replacements that did not arrive in 2024: $1.35M Total Expenditures 6,339,393 4,431,415 1,907,978 5,490,197 1,411,715 6,901,912 Revenue Over (Under) Expenditures (1,476,848) 321,749 (2,017,358) (165,648) (1,411,715) (1,577,363) Beginning Fund Balance 1,670,724 1,670,724 1,992,473 1,992,473 Ending Fund Balance 193,876$ 1,992,473$ 1,826,825$ 415,111$ TOWN OF VAIL 2025 PROPOSED AMENDED BUDGET SUMMARY OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE HEAVY EQUIPMENT FUND 143 Preliminary 2024 2024 Under/2025 1st 2025 Amended Actual (Over)Budget Supplemental Amended Revenue E911 Board Revenue 1,167,993$ 1,167,993$ -$ 1,246,961$ 1,246,961$ Interagency Charges 1,598,162 1,598,162 - 1,982,148 1,982,148 Town of Vail Interagency Charge 691,448 691,448 - 827,330 827,330 Earnings on Investments and Other 125,000 125,000 - 54,000 54,000 Total Revenue 3,582,603 3,582,603 - 4,110,439 - 4,110,439 Expenditures Salaries & Benefits 2,921,107 2,805,066 116,041 3,090,617 264,376 3,354,993 Implementation of staffing initiatives in accordance with agency approved budget ($264.4K) Operating, Maintenance & Contracts 627,742 591,549 36,193 647,869 75,000 722,869 Organizational structure assessments ($75.0K) Capital Outlay 894,200 97,090 797,110 - 847,110 847,110 Re-appropriate mobile responder command and control tool ($97.1K); Re-appropriate RMS Replacement ($700.0K); Contingency for data migration costs during RMS Replacement ($50.0K) Total Expenditures 4,443,049 3,493,704 949,345 3,738,486 1,186,486 4,924,972 Revenue Over (Under) Expenditures (860,446) 88,899 949,345 371,953 (1,186,486) (814,533) Other Financing Sources (Uses) Transfer from General Fund 253,266 253,266 - - - Total Financing Sources (Uses)253,266 253,266 - - - - Change in Net Position (607,180) 342,165 371,953 (1,186,486) (814,533) Beginning Fund Balance 2,557,235 2,557,235 2,646,133 2,646,133 Ending Fund Balance 1,950,055$ 2,646,133$ 3,018,086$ 1,831,600$ TOWN OF VAIL 2025 PROPOSED AMENDED BUDGET SUMMARY OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE DISPATCH SERVICES FUND 144 2024 Amended 2024 Under/2025 Budget Actuals (Over)Budget Revenue Town of Vail Interagency Charge - Premiums 4,398,910$ 4,398,910$ -$ 4,471,094$ Employee Contributions 911,864 901,112 (10,752) 943,859 Insurer Proceeds 530,000 605,893 75,893 430,000 Earnings on Investments 225,000 225,000 - 109,130 Total Revenue 6,065,774 6,130,915 65,141 5,954,083 Expenditures Health Insurance Premiums 901,760 1,156,496 (254,736) 1,097,365 Claims Paid 5,093,407 4,576,381 517,026 5,519,226 Wellness Bonus 109,000 53,340 55,660 112,674 Professional Fees 110,000 95,861 14,139 42,000 Total Expenditures 6,214,167 5,882,078 332,089 6,771,265 Revenue Over (Under) Expenditures (148,393) 248,836 397,229 (817,182) Beginning Fund Balance 5,125,327 5,125,327 5,374,163 Ending Fund Balance 4,976,934$ 5,374,163$ 4,556,981$ TOWN OF VAIL 2025 PROPOSED AMENDED BUDGET SUMMARY OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE HEALTH INSURANCE FUND 145 TOWN OF VAIL 2025 PROPOSED AMENDED BUDGET SUMMARY OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE VAIL MARKETING & SPECIAL EVENTS FUND Preliminary 2024 2024 Under/2025 Amended Actuals (Over)Budget Revenue Business Licenses 345,000$ 347,898$ 2,898$ 350,000$ Event Reimbursements/Shared Costs - 10,600 10,600 - Earnings on Investments 10,250 9,381 (869) - Total Revenue 355,250 367,879 12,629 350,000 Expenditures Commission on Special Events (CSE) : CSE Surveys 54,000 25,231 28,769 - Education & Enrichment 136,500 134,000 2,500 - Visitor Draw 735,270 672,566 62,704 - Recreation 124,000 120,600 3,400 - Signature Events 1,013,660 620,000 393,660 - Town Produced Events:727,993 554,876 173,117 - NYE/4th of July Display 58,000 49,000 9,000 - Ambient Event Funding:- 56,918 (56,918) - Music in the Villages 237,978 - 237,978 - Collection Fee - General Fund 17,250 17,395 (145) 17,500 Total Expenditures 3,104,651 2,250,586 854,065 17,500 Other Financing Sources (Uses) Transfer from/(to) Capital Projects Fund (73,007) (68,652) 4,355 - Transfer from/(to) General Fund 2,600,000 1,718,951 (881,049) - Transfer to VLMD (Business License Fee)- - - (332,500) Transfer from/(to) Vail Local Marketing District (Fund Balance)- - - (127,701) Total Other Financing Sources (Uses)2,526,993 1,650,299 (876,694) (460,201) Revenue Over (Under) Expenditures (222,408) (232,408) (1,718,130) (127,701) Beginning Fund Balance 360,109 360,109 127,701 Ending Fund Balance 137,701$ 127,701$ -$ 146 2024 Preliminary Amended 2024 Under/2025 Budget Actuals (Over)Budget Revenue Rental Income 1,721,300$ 1,723,227$ 1,927$ 1,780,694$ Other Income 270,230 266,487 (3,743) 284,236 Investment Earnings 500 6,031 5,531 500 Total Revenue 1,992,030 1,995,745 3,715 2,065,430 Expenses Operating, Maintenance & Contracts 713,994 634,497 79,497 776,383 Capital Outlay- Triumph 51,639 - 51,639 - Capital Outlay- RMV Construction 62,019 34,101 27,918 - Total Expenditures 827,652 668,599 159,053 776,383 Revenue Over Expenses 1,164,378 1,327,146 162,768 1,289,047 Other Financing Sources (Uses) Fiscal Agent fees (3,000) (3,500) (500) (3,000) Principal Repayment (435,000) (435,000) - (450,000) Interest Expense (783,788) (782,338) 1,451 (828,753) Total Other Financing Sources (Uses)(1,221,788) (1,220,838) 951 (1,281,753) Change in Net Position (57,410) 106,309 163,719 7,294 Beginning Fund Balance 482,717 482,717 425,307 Ending Fund Balance 425,307$ 589,026$ 432,601$ TOWN OF VAIL 2025 BUDGET SUMMARY OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE RESIDENCES AT MAIN VAIL 147 Preliminary 2024 2024 Under/2025 1st 2025 Amended Actuals (Over)Budget Supplemental Amended Revenue Rental Income 568,225$ 573,251$ 5,026$ -$ -$ Other Income 3,681 69,478 65,797 - - Total Revenue 571,906 642,729 70,823 - - - Expenditures Operating, Maintenance & Contracts 335,438 344,281 (8,843) - - Contingency 50,000 - 50,000 - - Total Expenditures 385,438 344,281 41,157 - - - Operating Income 186,467 298,448 29,666 - - - Non-operating Revenues (Expenses) Interest on Investments 66,500 12,500 (54,000) - - Loan Principal Repayment to Capital Projects Fund (401,508) (401,508) - (407,530) (407,530) Balance owed to CPF Interest Payment to Capital Projects Fund (61,447) (61,447) - (55,379) (55,379) Total Non-operating Revenues (Expenses)(396,455) (450,455) (54,000) (462,909) - (462,909) Surplus (Deficit) from Operations (209,988) (152,007) (24,334) (462,909) - (462,909) Site/Podium/Land Transfer from Housing Fund- CDOT Land Acquisition 1,719,650 1,719,468 182 - - Payment for CDOT land purchase CDOT Land Acquisition (1,719,858) (1,719,468) 390 - - Timber Ridge Redevelopment TOV Comittment (39,218,651) (29,179,162) 10,039,489 (10,750,067) (10,750,067) 5 year plan assumes: 75% Reimbursement in 2026; 25% in 2027 Redevelopment Legal Fee Contingency (50,000) (29,539) 20,461 (20,461) (20,461) Transfer from Housing Fund- Site and Podium 9,093,105 9,093,105 - 10,541,295 10,541,295 Transfer from Housing Fund to be paid back with sales Transfer from General Fund- Site and Podium/legal fees 30,522,340 20,115,596 (10,406,744) 229,233 229,233 Transfer from GF to be paid back with sales Total Site and Podium 346,586 (0) (346,222) - (0) (0) Revenue Over (Under) Expenditures 136,598 (152,007) (370,556) (462,909) (0) (462,909) Beginning Fund Balance 2,725,806 2,725,806 2,573,799 2,573,799 Ending Fund Balance 2,862,405$ 2,573,799$ 2,110,890$ 2,110,890$ TOWN OF VAIL 2025 PROPOSED AMENDED BUDGET SUMMARY OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE TIMBER RIDGE FUND 148 Ordinance No. 4, Series of 2025 ORDINANCE NO. 4 SERIES OF 2025 AN ORDINANCE MAKING BUDGET ADJUSTMENTS TO THE TOWN OF VAIL GENERAL FUND, CAPITAL PROJECTS FUND, REAL ESTATE TRANSFER TAX FUND, HOUSING FUND, HEAVY EQUIPMENT FUND, INTERNAL EMPLOYEE HOUSING RENTAL FUND, TIMBER RIDGE FUND, AND DISPATCH SERVICES FUND OF THE 2025 BUDGET FOR THE TOWN OF VAIL, COLORADO; AND AUTHORIZING THE SAID ADJUSTMENTS AS SET FORTH HEREIN; AND SETTING FORTH DETAILS IN REGARD THERETO. WHEREAS, contingencies have arisen during the fiscal year 2025 which could not have been reasonably foreseen or anticipated by the Town Council at the time it enacted Ordinance No. 18, Series of 2024, adopting the 2025 Budget and Financial Plan for the Town of Vail, Colorado; and, WHEREAS, the Town Manager has certified to the Town Council that sufficient funds are available to discharge the appropriations referred to herein, not otherwise reflected in the Budget, in accordance with Section 9.10(a) of the Charter of the Town of Vail; and, WHEREAS, in order to accomplish the foregoing, the Town Council finds that it should make certain budget adjustments as set forth herein. NOW, THEREFORE, BE IT ORDAINED, BY THE TOWN COUNCIL OF THE TOWN OF VAIL, COLORADO that: 1. Pursuant to Section 9.10(a) of the Charter of the Town of Vail, Colorado, the Town Council hereby makes the following budget adjustments for the 2025 Budget and Financial Plan for the Town of Vail, Colorado, and authorizes the following budget adjustments: General Fund $ 214,890 Capital Projects Fund 26,613,769 Real Estate Transfer Tax Fund 7,862,221 Housing Fund 18,852,791 Heavy Equipment Fund 1,411,715 Internal Employee Housing Rental Fund 102,349 Timber Ridge Fund 10,770,528 Dispatch Services Fund 1,186,486 Interfund Transfers (10,807,762) Total $ 56,206,987 2. If any part, section, subsection, sentence, clause or phrase of this ordinance is for any 149 Ordinance No. 4, Series of 2025 reason held to be invalid, such decision shall not affect the validity of the remaining portions of this ordinance; and the Town Council hereby declares it would have passed this ordinance, and each part, section, subsection, sentence, clause or phrase thereof, regardless of the fact that any one or more parts, sections, subsections, sentences, clauses or phrases be declared invalid. 3. The Town Council hereby finds, determines, and declares that this ordinance is necessary and proper for the health, safety, and welfare of the Town of Vail and the inhabitants thereof. 4. The repeal or the repeal and reenactment of any provision of the Municipal Code of the Town of Vail as provided in this ordinance shall not affect any right which has accrued, any duty imposed, any violation that occurred prior to the effective date hereof, any prosecution commenced, nor any other action or proceedings as commenced under or by virtue of the provision repealed or repealed and reenacted. The repeal of any provision hereby shall not revive any provision or any ordinance previously repealed or superseded unless expressly stated herein. 5. All bylaws, orders, resolutions, and ordinances, or parts thereof, inconsistent herewith are repealed to the extent only of such inconsistency. This repealer shall not be construed to revise any bylaw, order, resolution, or ordinance, or part thereof, theretofore repealed. INTRODUCED, READ, APPROVED, AND ORDERED PUBLISHED ONCE IN FULL ON FIRST READING this 18th day of March 2025, and a public hearing shall be held on this Ordinance on the 1st day of April, 2025, at the regular meeting of the Town Council of the Town of Vail, Colorado, in the Municipal Building of the town. _______________________________ Travis Coggin, Mayor ATTEST: ___________________________ Stephanie Johnson, Acting Town Clerk 150 2025 SUPPLEMENTAL BUDGET FINANCE | March 18, 2025 151 2 YEAR END RESULTS | Overview Town of Vail | Finance 2024 REVENUES BY SOURCE Across all funds revenues total $127.0; $114.5M excluding large one-time grants and reimbursements; up $7.6M from 2023; $1.3M from budget Sales Tax, $47.7MProperty and Ownership Tax, $8.1M Use Tax, $3.1M Ski Lift Tax , $6.7M Franchise Fees, $1.9M Real Estate Transfer Tax , $9.3M Licenses and Permits, $3.9M Intergovernmental Revenue, $9.5M Transportation Centers, $9.5M Charges for Services, $2.9M Rent, Fines & Miscellaneous, $13.6M Reimbursed from VRA , $2.4M Earnings on Investments, $8.3M 152 Revenue Source 2024 Actual 2024 Amended Budget % Variance 2023 Actual % Variance Total Revenues $127.0M $132.5M -4.2%$113.6M 11.8% Sales Tax 47.3M 45.8M 3.3%46.9M 0.9% Property and Ownership Tax 8.1M 8.4M -3.6%6.1M 32.8% Use Tax 3.1M 3.1M 0.0%2.5M 24.0% Ski Lift Tax 9.3M 8.5M 9.4%6.5M 43.1% Real Estate Transfer Tax 9.3M 8.2M 13.4%8.0M 16.3% Intergovernmental Revenue 9.5M 13.9M -31.7%8.7M 9.2% Transportation Centers 9.5M 8.9M 6.7%9.4M 1.1% Reimbursed from VRA 2.4M 4.6M -47.8%1.9M 26.3% 3 YEAR END RESULTS | Overview 2024 MAJOR REVENUES 153 4 YEAR END RESULTS | Overview Town of Vail | Finance EXPENDITURES Across all funds expenditures totaled $153.6M compared to $218.8M budget. Savings: $12.5M •Personnel Vacancies: $2.1M •Capital Projects: $5.5M •General Operating: $3.7M •Event Spending: $881.6K •Health Insurance Claims/Premiums: $332K Re-appropriations: $52.7M •Timber Ridge site and podium ($10.0M) •Underground Utility Conversion ($4.2M) •Vail InDEED ($2.9M) •East Vail CDOT Parcel Acquisition ($2.4M) •Electric Bus Purchases ($2.1M) •Dobson Ice Arena ($1.7M) •Vehicle Replacements ($1.4M) •Ford Park Art Studio ($1.0M) Municipal Services 42.7% Capital Improvements 55.8% Debt Service 1.5% 154 5 YEAR END RESULTS | Overview Town of Vail | Finance EXPENDITURES Across all funds expenditures totaled $153.6M compared to $218.8M budget. 2024 Actual 2024 Amended Variance 2023 Actual Personnel $43.4M $45.5M $2.1M $41.1M Operations $22.3M $26.6M $4.3M $21.8M Events $2.2M $3.1M $900K $2.5M Total Municipal Services $67.9M $75.2M $7.3M $65.4M Capital Expenditures $85.7M 143.6M $57.9M $39.3M Total $153.6M $218.8M $65.2M $104.7M 155 6 YEAR END RESULTS | General Fund Revenue – YOY Increase across all revenues with the largest increase due to property tax collections ($2.2M) Expenditures – Savings in staffing: $1.3M ($2.1M Townwide); all other operations $2.3M Transfers – Interfund transfers increases YOY due to redev. of Timber Ridge: $20.1M Carryover of: •Planning projects: $412K Fund Balance – Budgeted to utilize $23.7M of reserves; Actual results: Used $8.0M 2024: $53.4M; 2025 Projected: $46.5M (74% of fund balance) Final Budget 2024 Actual Better (Worse) 2023 Actual Better (Worse) Revenue $68.4M $68.7M $0.3K $62.7M $6.0M Expenditures (58.6)M (54.7)M 3.9M (52.0)M (2.7)M Interfund Transfers (33.4)M (22.1)M 11.3M (2.5)M (19.6)K Net Change (23.6)M (8.1)M 15.5M 8.0M (16.1)M 156 7 YEAR END RESULTS | Capital Projects Fund Town of Vail | Finance Revenue – YOY variance due to timing of grant funds Expenditures – Variance for 2024 budgeted projects not yet completed and carried over to 2025 $24.3M; $3.3M in project savings during 2024 Transfers– Housing Fund (InDeed) and Repayment to Housing Fund for North Trail Townhome kept as employee unit. Fund Balance - $49.6M at the end of 2024 but utilizing $45.0M of that in 2025. Final Budget 2024 Actual Better (Worse) 2023 Actual Better (Worse) Revenue $35.3M $29.7M $(5.6)M $25.1M $4.6M Expenditures (52.7)M (25.1)M 27.6M (19.7)M (5.4)M Debt Service (1.2)M (1.2)M -(1.2)M - Transfers (2.8)M (2.8)M -(2.5)M (0.3)M Net Change $(21.4)M $661.0K $22.1M $1.8M $(1.1)M 157 8 YEAR END RESULTS | Real Estate Transfer Tax Fund Town of Vail | Finance Revenue – RETT collections of $9.3M up $1.3M from 2023. Expenditures – Variance for 2024 budgeted projects not yet completed and carried over to 2025 $7.5M; $2.6M in project savings during 2024 Fund Balance - $15.0M at the end of 2024 but utilizing $8.5M of that in 2025. Final Budget 2024 Actual Better (Worse) 2023 Actual Better (Worse) Revenue $10.2M $10.8M $588.0K $10.3M $492.5K Expenditures (37.1)M (27.7)M 10.1M (8.4)M (19.3)M Transfers (13.5)K (13.5)K --(13.5)K Net Change $(27.5)M $(16.8)M $10.6M $2.0M (18.8)M 158 9 YEAR END RESULTS | Overview Town of Vail | Finance Use of Fund Balance Total Expenditures Exceeded Revenues in 2024 by $26.6M. Reserves were utilized for the following projects: -Purchase of Booth Heights (RETT): $16.9M (Total Project) -Timber Ridge ($8.1M of GF and $2.8M of HF) $139.4M $110.7M $35.3M $57.7M $53.5M $59.5M $54.8M $0.0M $20.0M $40.0M $60.0M $80.0M $100.0M $120.0M $140.0M $160.0M 2023 Actual Preliminary 2024 Actual 2025 2026 2027 2028 2029 Reserve Projections (above Minimum) Housing Fund RETT Fund Capital Projects Fund General Fund 159 2025 SUPPLEMENTAL BUDGET | Budget Requests Town of Vail | Finance 160 11 2025 BUDGET SUPPLEMENTAL | Overview Town of Vail | Finance Proposes to increase revenues by a net $6.3M •$5.2M for re-appropriation of grants, reimbursements, and transfers for ongoing projects •$1.1M for other revenue increases •Requesting to increase expenditures by a net $56.2M: •$52.7M for re-appropriation of ongoing projects •$3.5M for new funding requests 161 12 2025 BUDGET SUPPLEMENTAL | Overview Town of Vail | Finance Supplemental Requests (New): $3.5M Supplemental Requests (Re-appropriations): $52.7M Original 2025 Budget: $157.8M 2025 Proposed Amended Budget- All Funds: $214.0M 162 13 2025 BUDGET SUPPLEMENTAL | General Fund Town of Vail | Finance Revenue $415.0K •$231.3K: Ongoing grants/reimbursements (DOLA Housing Capacity Grant, PD High Visibility Enforcement) •$131.7K: Parking Sales •$44.0K: New EV Charging Rate Structure Expenditures $214.9K •$412.6K: Planning Projects (rollforward from PY) •$290.0K: Donovan Pavilion and Grand View Room Operating costs •$24.9K: STR Excise Tax survey and outreach •($1.0M): Decrease in West Middle Creek Transfer from GF to CPF Ending Fund Balance: $46.5M 163 14 2025 BUDGET SUPPLEMENTAL | Capital Projects Fund Town of Vail | Finance Revenue: $4.9M •$4.8M Rollforward of grants and reimbursements for continuing projects Expenditures: $26.6M Reappropriations $25.4M: •Underground utilities $4.2M (Offs et by $1.9M in accumulated enhancement/franchise fees) •Snowmelt boiler replacement ($900K) •Dobson redevelopment ($1.7M) •Vail mobility hub ($1.5M) •$500.0K for parking structure rehabilitation (Total $2.8M) •$234.5K for Hamlet #3 acquisition cost true-up •$170.0K for HR/payroll system (Total placeholder $290.K) •$47.0K for security upgrades to PD Admin area Ending Fund Balance: $4.6M 164 15 2025 BUDGET SUPPLEMENTAL | RETT Fund Town of Vail | Finance Revenue: $291.2K •$291.2K for grants and reimbursements for projects continuing from 2024 (Dowd Junction Stabilization, State Bear Education Grant, Middle Creek restoration reimbursement) Expenditures: $7.9M Reappropriations $7.4M: •Athletic Field Restroom/Storage Building ($1.0M) •Ford Park Art Studio ($1.0M) •Dowd Junction Restabilization ($453.8K) •Gore Creek Promenade Rehab ($368.5K) New: •$100.0K for habitat improvement offset by 2024 savings Ending Fund Balance: $4.5M 165 16 2025 BUDGET SUPPLEMENTAL | Other Funds Town of Vail | Finance Revenue: Net $964.8K increase •Housing Fund: Roll forward sale of buydown unit ($625.0K); Deed restriction buyout approved by council in Feb ($275.4K) Expenditures: Net $21.8M Reappropriations: •Housing Fund: $2.9M for InDEED, $2.4M to purchase East Vail Parcel, $1.5M Buydown Placeholder •Heavy Equipment Fund: $1.4M Vehicle Replacements •Dispatch Fund: $700K for RMS system •Timber Ridge Fund: $10.8M towards redevelopment New: • Dispatch: $264.4K for implementation of staffing initiatives approved by agencies 166 SUPPLEMENTAL BUDGET | Recap Town of Vail | Finance Does Council have questions or concerns about any of the supplemental requests or re-appropriations? 167 AGENDA ITEM NO. 7.3 Item Cover Page DATE:March 18, 2025 TIME:10 min. SUBMITTED BY:Steph Johnson, Town Manager ITEM TYPE:Ordinance AGENDA SECTION:Action Items (7:45pm) SUBJECT:Ordinance No. 5, Series 2025, First Reading, An Ordinance Concerning the West Middle Creek Housing Development and in Connection Therewith Authorizing the Leasing of Certain Town Property, the Advance of a Loan to the Vail Home Partners Corporation, and the Execution and Delivery of a Site Lease. Lease Purchase Agreement and Other Documents (7:55pm) SUGGESTED ACTION:Approve, approve with amendments, or deny Ordinance No. 5, Series of 2025, upon first reading. PRESENTER(S):Carlie Smith, Finance Director VAIL TOWN COUNCIL AGENDA ITEM REPORT ATTACHMENTS: Council Memo - COP Debt Authorization Ordinance No. 5 - Authorizing Ordinance Attachment A. Indenture Housing COPs West Middle Creek Attachment B. Lease-Housing COPs West Middle Creek Attachment C. Site Lease West Middle Creek 168 TO:Vail Town Council FROM:Finance Department DATE:March 18, 2025 SUBJECT: Ordinance No. 5, Series 2025, Authorization of Debt for West Middle Creek and Leased Property I.SUMMARY During the afternoon session, Council will receive a financing update for the West Middle Creek housing project. The next step in moving forward with this project is authorizing the town to issue Certificates of Participation in an amount not to exceed $65.5M. In parallel, this will also serve as direction for Vail Home Partners to issue housing revenue bonds not to exceed $145.0M. The approval of this ordinance does not commit the town to issuing the COPs. II.DISCUSSION Tonight’s ordinance would allow the town to issue COPs for the West Middle Creek project within the following parameters: 40-year tax-exempt Certificate of Participation Up to $65.5M Interest rate not to exceed 6.5% (Approx $129.5M interest cost over life) Annual debt service not to exceed $8.5M Approval of the 2 nd reading of the COP ordinance will also serve as direction for the Vail Home Partners Corporation to approve a resolution authorizing the issuance of the housing revenue bonds. The Housing Revenue bonds, which will not be considered Town of Vail debt, will be approved with the following parameters: 40-year tax-exempt Housing Revenue Bond Up to $145.0M Interest rate not to exceed 7.5% (Approx $450.0M interest cost over life) Annual debt service not to exceed $35.0M Both debt service payments will be funded by rents from the West Middle Creek project but may require a town subsidy of up to $5.0M within the first 2 to 5 years of operations. A copy of the housing revenue documents, including the resolution, mortgage, and indenture of trust, are currently being finalized and will be included in the 2nd reading packet materials. This ordinance also authorizes the town to lease property to the issuing bank, US Bank, collateralizing the COPs. The leased property needed for the maximum COP sizing of $65.5M will require the Lionshead Welcome Center, Red Sandstone Parking garage, the Gymnastics 169 Town of Vail Page 2 center, the Golf Course Clubhouse, Donovan Pavilion, the Vail Public Library, as well as the East Vail, West Vail and Main Vail fire stations. The Town is working with Butler Snow and Land Title to make the entire golf course available to collateralize. At a later date, staff would propose to swap out the above collateral for the entire golf course parcel freeing up the facilities listed above for possible future debt. Outstanding Debt: The most recent debt issuance by the town was a $22.6M COP for the development of Residences at Main Vail with an interest rate of 2.6% for 30 years. The total interest cost for that project is $14.3M. One year before that, the town issued $15.2 million bank placement to finance the Public Works Shops expansion and renovation with an interest rate of 1.76% for 15 years. The total interest cost for that project is $2.2M. Prior to that, the town had not financed any capital projects since 1991. Next Steps Pending approval of the second reading of Ordinance No. 5, the Vail Home Partners board will meet to approve a resolution authorizing the issuance of housing revenue bonds. The following week, staff and the underwriter will meet with the rating agency. The fee associated with a rating for the COPs is $54,000. When the bonds are issued this will be paid by the COP proceeds however once the bonds are rated the town will be responsible for the fee regardless if they are issued. Based on the current schedule, the underwriter plans to post the Preliminary Offering Statement (POS) on April 22nd. At this stage, Council should make a go/no-go decision on the project. While the town can technically withdraw the transaction up until issuance, doing so may affect its reputation for future financings. The closing for the COPs and housing revenue bonds is scheduled for May 20, 2025. II.ACTION REQUESTED OF COUNCIL Approve Ordinance No. 5, Series 2025, an ordinance authorizing the town to issue Certificates of Participation for the financing of West Middle Creek. 170 1 ORDINANCE NO. 5 Series of 2025 AN ORDINANCE CONCERNING THE WEST MIDDLE CREEK HOUSING DEVELOPMENT AND IN CONNECTION THEREWITH AUTHORIZING THE LEASING OF CERTAIN TOWN PROPERTY, THE ADVANCE OF A LOAN TO THE VAIL HOME PARTNERS CORPORATION, AND THE EXECUTION AND DELIVERY OF A SITE LEASE, LEASE PURCHASE AGREEMENT AND OTHER DOCUMENTS WHEREAS, pursuant to Article XX, Section 6 of the Colorado Constitution and Section 13.3 of the Town of Vail Home Rule Charter (the "Charter"), the Town is authorized to lease, for such term as the Town Council determines, any real or personal property to or from any person, firm or corporation, public or private, governmental or otherwise; WHEREAS, the Town owns, in fee title, various properties and facilities as defined and more particularly described in Exhibit A to the Lease (the "Leased Property"); WHEREAS, because the demand for workforce housing in the Town exceeds the supply, the Town Council hereby determines that it is in the public interest and is a public purpose for the Town to assist the Vail Home Partners Corporation (the "Corporation") to finance the acquisition, construction, installation, equipping of the West Middle Creek housing development, a for-rent housing development that are offered at rental rates that are attainable to a range of individuals and families (the "Development"), including any legally permitted costs and expenditures in connection therewith, all for public purposes, and as authorized by law, by advancing a loan to the Corporation (the "Project"); WHEREAS, the Town Council hereby determines that it is in the best interests of the Town and the public health, safety and welfare to lease the Leased Property pursuant to a Site Lease (the "Site Lease") between the Town, as lessor, and U.S. Bank Trust Company, National Association, as lessee (the "Trustee") and lease back the Trustee's interest in the Leased Property pursuant to the terms of a Lease Purchase Agreement (the "Lease") between the Trustee, as lessor, and the Town, as lessee; WHEREAS, the Trustee will execute and deliver an Indenture of Trust (the "Indenture") pursuant to which there will be executed and delivered certain certificates of participation, taxable or tax-exempt or both (the "Certificates") dated as of their date of delivery, that shall evidence proportionate interests in the right to receive certain revenues including rental payments made by the Town under the Lease; WHEREAS, proceeds of the Certificates, along with approximately $10,000,000 in available funds of the Town, shall be loaned to the Corporation for the construction of a portion of the Development; 171 2 WHEREAS, the Town’s obligation under the Lease to pay Base Rentals and Additional Rentals will be from year to year only; will constitute a currently budgeted expenditure of the Town; will not constitute a mandatory charge or requirement in any ensuing budget year; and will not constitute a general obligation or other indebtedness or multiple fiscal year direct or indirect Town debt or other financial obligation of the Town within the meaning of any constitutional, statutory, or Charter limitation or requirement concerning the creation of indebtedness or multiple fiscal year financial obligation, nor a mandatory payment obligation of the Town in any ensuing fiscal year beyond any fiscal year during which the Lease shall be in effect; WHEREAS, the Supplemental Public Securities Act, part 2 of Article 57 of Title 11, C.R.S. (the "Supplemental Act"), provides that a public entity, including the Town, may elect in an act of issuance to apply all or any of the provisions of the Supplemental Act to an issue of securities; WHEREAS, no member of the Town Council has any conflict of interest or is interested in any pecuniary manner in the transactions contemplated by this Ordinance; WHEREAS, there have been filed with the Town Clerk proposed forms of: (i) the Site Lease; (ii) the Lease; (iii) the Preliminary Official Statement (the "Preliminary Official Statement") and (iv) a Continuing Disclosure Certificate (the "Continuing Disclosure Certificate") to be delivered by the Town; and WHEREAS, capitalized terms used herein and not otherwise defined shall have the meanings set forth in the Lease. NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF VAIL, COLORADO, THAT: Section 1.Ratification and Approval of Prior Actions. The Town Council hereby ratifies and approves all action heretofore taken and not inconsistent with this Ordinance by the Town Council or the officers, agents, or employees of the Town relating to the Site Lease, the Lease, the implementation of the Development, and the execution and delivery of the Certificates. Section 2.Finding of Best Interests. The Town Council hereby finds and determines, pursuant to the Colorado Constitution and laws of the State and the Charter, that the implementation of the Development pursuant to the terms set forth in the Site Lease, the Lease, and the Indenture are necessary, convenient, and in furtherance of the Town's purposes and are in the best interests of the inhabitants of the Town and the public health, safety and welfare. The Town Council further finds that the fair value of the Leased Property does not exceed its Purchase Option Price (as defined in the Lease), and the Town Council hereby authorizes and approves the same. Section 3.Supplemental Act Election; Parameters. a.The Town Council hereby elects to apply all of the provisions of the Supplemental Act to the Lease, the Site Lease, and the Certificates, and in connection 172 3 therewith delegates to the Mayor, Town Manager or Finance Director the independent authority to make any determination delegable pursuant to C.R.S. § 11-57-205(1)(a-i), in relation to the Lease and the Site Lease, and to execute a sale certificate (the "Sale Certificate") setting forth such determinations, including without limitation the term of the Site Lease, the rental amount to be paid by the Trustee pursuant to the Site Lease, the term of the Lease and the rental amount to be paid by the Town pursuant to the Lease, subject to all of the following parameters and restrictions: i.The Site Lease Term shall end no later than December 31, 2074. ii.The Lease Term shall end no later than December 31, 2064. iii.The aggregate principal amount of the Base Rentals payable by the Town under the Lease with respect to any tax-exempt Certificates shall not exceed $59.2 million. iv.The maximum annual repayment cost of Base Rentals payable by the Town with respect to tax-exempt Certificates shall not exceed $[___] million, and the total repayment cost shall not exceed $[___] million. v.The purchase price of the Certificates shall not be less than [95]% of the aggregate principal amount. vi.The maximum net effective interest rate on the interest component of the Base Rentals relating to the tax-exempt Certificates shall not exceed [5.11]% vi.The amount of capitalized interest for deposit into the Base Rentals Fund, if any. vii.The amount deposited to a Reserve Fund, if any. b.Pursuant to C.R.S. § 11-57-205, the Town Council hereby delegates to the Mayor, Town Manager and Finance Director the authority to acknowledge the Indenture and any contract for the purchase of the Certificates between the Trustee and the Purchaser, and to execute any agreement or agreements in connection therewith. In addition, the Mayor, Town Manager and Finance Director are hereby authorized to independently determine if obtaining an insurance policy for all or a portion of the Certificates is in the best interests of the Town, and if so, to select an insurer to issue an insurance policy, execute a commitment relating to the same and execute any related documents or agreements required by such commitment. The Mayor, Town Manager and Finance Director are also hereby authorized to determine if obtaining a reserve fund insurance policy for the Certificates is in the best interests of the Town, and if so, to select a surety provider to issue a reserve fund insurance policy and execute any related documents or agreements required by such commitment. Additionally the Town hereby approves a loan to the Corporation in an amount not to exceed $10,000,000 for construction and acquisition of the Development pursuant to a Loan Agreement previously approved by Ordinance No. 1, Series of 2025. 173 4 Section 4.Approval of Documents. The Town Council hereby approves the Site Lease, the Lease, and the Continuing Disclosure Certificate, and the Mayor is hereby authorized and directed for and on behalf of the Town to execute and deliver such documents in substantially the forms and with substantially the same contents as the proposed forms of such documents on file with the Town Clerk, with such changes as may hereafter be approved by the Mayor, Town Attorney or Town Manager. Section 5.Official Statement. The Town Manager or the Finance Director are each independently authorized to prepare or cause to be prepared, and the Mayor is authorized and directed to approve and execute a final Official Statement for use in connection with the offering and sale of the Certificates in substantially the form of the Preliminary Official Statement, but with such amendments, additions, and deletions as are in accordance with the facts and not inconsistent herewith. The execution of a final Official Statement by the Mayor shall be conclusively deemed to evidence the approval of the form and contents thereof by the Town. The distribution of the Preliminary Official Statement and the final Official Statement to all interested persons in connection with the sale of the Certificates is hereby ratified, approved and authorized. Section 6.Collateral Documents. The Mayor, Town Manager and Finance Director are hereby authorized to execute and deliver for and on behalf of the Town any and all certificates, documents, instruments, and other papers and to perform all other acts that they deem necessary or appropriate, in order to implement and carry out the transactions and other matters authorized by this ordinance. The Town Clerk is hereby authorized and directed to attest all signatures and acts of any official of the Town, if so required. The Mayor, Town Manager and Finance Director are authorized to execute on behalf of the Town agreements concerning the deposit and investment of funds in connection with the transactions contemplated by this ordinance. Section 7.No General Obligation Debt. No provision of this Ordinance, the Lease, the Indenture, the Continuing Disclosure Certificate, the Certificates or the Official Statement shall be construed as creating or constituting a general obligation or other indebtedness or multiple fiscal year financial obligation of the Town within the meaning of any constitutional, statutory, or Charter provision, nor a mandatory charge or requirement against the Town in any ensuing fiscal year beyond the then current fiscal year. The Town shall not have any obligation to make any payment with respect to the Certificates except in connection with the payment of the Base Rentals and certain other payments under the Lease, which payments may be terminated by the Town in accordance with the provisions of the Lease. Neither the Lease nor the Certificates shall constitute a mandatory charge or requirement of the Town in any ensuing fiscal year beyond the then current fiscal year or constitute or give rise to a general obligation or other indebtedness or multiple fiscal year financial obligation of the Town within the meaning of any constitutional, statutory or Charter debt limitation and shall not constitute a multiple fiscal year direct or indirect Town debt or other financial obligation whatsoever. No provision of the Lease or the Certificates shall be construed or interpreted as creating an unlawful delegation of governmental powers nor as a donation by or a lending of the credit of the Town within the meaning of Article XI of the Colorado Constitution. Neither the Lease nor 174 5 the Certificates shall directly or indirectly obligate the Town to make any payments beyond those budgeted and appropriated for the Town's then current fiscal year. Section 8.Reasonableness of Rentals. The Town Council hereby determines and declares that the Base Rentals do not exceed a reasonable amount so as to place the Town under an economic compulsion to renew the Lease or to exercise its option to purchase the Leased Property pursuant to the Lease. The Town Council hereby determines and declares that the period during which the Town has an option to purchase the Leased Property (i.e., the entire maximum term of the Lease) does not exceed the remaining useful life of the Leased Property. Section 9.No Recourse against Officers and Agents. Pursuant to C.R.S. § 11- 57-209, if any Town official or agent acts in good faith, no civil recourse shall be available against such member, officer, or agent for payment of the principal, interest or prior redemption premiums on the Certificates. Such recourse shall not be available either directly or indirectly through the Town Council or the Town, or otherwise, whether by virtue of any constitution, statute, rule of law, enforcement of penalty, or otherwise. By the acceptance of the Certificates and as a part of the consideration of their sale or purchase, any person purchasing or selling such certificate specifically waives any such recourse. Section 10. Repealer. All bylaws, orders, resolutions and ordinances, or parts thereof, inconsistent herewith are repealed to the extent only of such inconsistency. This repealer shall not be construed to revise any bylaw, order, resolution or ordinance, or part thereof, theretofore repealed. Section 11. Charter Controls. Pursuant to Article XX of the Colorado Constitution and the Charter, all State statutes that might otherwise apply in connection with the provisions of this ordinance are hereby superseded to the extent of any inconsistencies or conflicts between the provisions of this ordinance and the Sale Certificate authorized hereby and such statutes. Any such inconsistency or conflict is intended by the Town Council and shall be deemed made pursuant to the Authority of Article XX of the Colorado Constitution and the Charter. Section 12. Severability. If any part, section, subsection, sentence, clause or phrase of this Ordinance is for any reason held to be invalid, such decision shall not effect the validity of the remaining portions of this ordinance; and the Town Council hereby declares it would have passed this Ordinance, and each part, section, subsection, sentence, clause or phrase thereof, regardless of the fact that any one or more parts, sections, subsections, sentences, clauses or phrases be declared invalid. 175 6 INTRODUCED, READ ON FIRST READING, APPROVED, AND ORDERED PUBLISHED ONCE IN FULL ON FIRST READING this 18th day of March, 2025 and a public hearing for second reading of this Ordinance set for the 1st day of April, 2025, in the Council Chambers of the Vail Municipal Building, Vail, Colorado. ________________________________ Travis Coggin, Mayor ATTEST: ___________________________ Stephanie Johnson, Acting Town Clerk READ AND APPROVED ON SECOND READING AND ORDERED PUBLISHED this 1st day of April, 2025. ________________________________ Travis Coggin, Mayor ATTEST: ___________________________ Stephanie Johnson, Acting Town Clerk 176 INDENTURE OF TRUST DATED AS OF [_______],2025 BY U.S.BANK TRUST COMPANY,NATIONAL ASSOCIATION, AS TRUSTEE 177 i This Table of Contents is not a part of this Indenture and is only for convenience of reference. TABLE OF CONTENTS Page DEFINITIONS ...........................................................................................................3 Certain Funds and Accounts .............................................................................3 Definitions.........................................................................................................3 THE CERTIFICATES ...............................................................................................9 Amount of the Certificates; Nature of the Certificates .....................................9 Forms, Denominations, Maturities and Other Terms of Certificates................9 Execution; Global Book-Entry System ...........................................................11 Delivery of Certificates ...................................................................................12 Mutilated, Lost, Stolen or Destroyed Certificates ..........................................13 Registration of Certificates; Persons Treated as Owners; Transfer and Exchange of Certificates .................................................................................13 Cancellation of Certificates.............................................................................14 Additional Certificates ....................................................................................14 Uniform Commercial Code.............................................................................15 REVENUES AND FUNDS .....................................................................................17 Segregation and Disposition of Proceeds of Certificates ................................17 Application of Revenues and Other Moneys ..................................................17 Base Rentals Fund...........................................................................................17 Reserve Fund ..................................................................................................18 Rebate Fund ....................................................................................................20 Costs of Execution and Delivery Fund ...........................................................20 Moneys to be Held in Trust ............................................................................21 Nonpresentment of Certificates ......................................................................21 Repayment to the Town from the Trustee ......................................................21 REDEMPTION OF CERTIFICATES .....................................................................22 Optional Redemption ......................................................................................22 Mandatory Sinking Fund Redemption ............................................................22 Extraordinary Mandatory Redemption ...........................................................23 Partial Redemption..........................................................................................25 Notice of Redemption .....................................................................................25 Redemption Payments ....................................................................................26 INVESTMENTS ......................................................................................................27 Investment of Moneys.....................................................................................27 Method of Valuation and Frequency of Valuation .........................................28 DEFEASANCE AND DISCHARGE ......................................................................29 Defeasance and Discharge ..............................................................................29 178 ii EVENTS OF INDENTURE DEFAULT AND REMEDIES ..................................31 Events of Indenture Default Defined ..............................................................31 Remedies .........................................................................................................31 Legal Proceedings by Trustee .........................................................................31 Discontinuance of Proceedings by Trustee .....................................................32 Owners of Certificates May Direct Proceedings ............................................32 Limitations on Actions by Owners of Certificates .........................................32 Trustee May Enforce Rights Without Possession of Certificates ...................32 Remedies Not Exclusive .................................................................................33 Delays and Omissions Not to Impair Rights...................................................33 Application of Moneys in Event of Indenture Default ...................................33 CONCERNING THE TRUSTEE ............................................................................34 Duties of the Trustee .......................................................................................34 Rights of Trustee; Limited Liability of Trustee; Trustee’s Use of Agents .....34 Representations and Covenants of Trustee .....................................................37 Compensation .................................................................................................38 Notice of Default; Right to Investigate ...........................................................38 Obligation to Act on Defaults .........................................................................38 Reliance on Requisition, etc ...........................................................................39 Trustee May Own Certificates ........................................................................39 Construction of Ambiguous Provisions ..........................................................39 Resignation of Trustee ....................................................................................39 Removal of Trustee .........................................................................................39 Appointment of Successor Trustee .................................................................40 Qualification of Successor ..............................................................................40 Instruments of Succession...............................................................................40 Merger of Trustee ...........................................................................................40 Intervention by Trustee ...................................................................................40 Books and Records of the Trustee; Trustee Record Keeping .........................41 Environmental Matters....................................................................................41 SUPPLEMENTAL INDENTURES AND AMENDMENTS OF THE LEASE AND SITE LEASE ...............................................................................................42 Supplemental Indentures and Amendments Not Requiring Certificate Owners’ Consent .............................................................................................42 Supplemental Indentures and Amendments Requiring Certificate Owners’ Consent .............................................................................................42 Amendment of the Lease and the Site Lease ..................................................43 MISCELLANEOUS ..............................................................................................45 Evidence of Signature of Owners and Ownership of Certificates ..................45 Inspection of the Leased Property...................................................................45 Parties Interested Herein .................................................................................45 Titles, Headings, Etc .......................................................................................46 Severability .....................................................................................................46 Governing Law ...............................................................................................46 179 iii Execution in Counterparts...............................................................................46 Notices ............................................................................................................46 Successors and Assigns...................................................................................46 Payments Due on Saturdays, Sundays and Holidays ......................................46 Undertaking to Provide Ongoing Disclosure ..................................................47 Electronic Storage and Execution ...................................................................47 EXHIBIT A FORM OF CERTIFICATE.................................................................................A-1 180 1 INDENTURE OF TRUST THIS INDENTURE OF TRUST dated as of [_______], 2025 (this “Indenture”), is executed and delivered by U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, duly organized and existing under the laws of the United States of America, acting solely in its role as trustee (the “Trustee”) for the benefit of the Owners of the Certificates as set forth in this Indenture. PREFACE All capitalized terms used herein will have the meanings ascribed to them in Article 1 of this Indenture. RECITALS 1.This Indenture is being executed and delivered to provide for the execution, delivery and payment of and security for the Certificates, the proceeds of which will be used to finance the construction of the Development and to pay the Costs of the Project. The Certificates evidence undivided interests in the right to receive Revenues under the Lease. 2.Pursuant to the Lease, and subject to the rights of the Town to not appropriate the Base Rentals and Additional Rentals thereunder and, therefore, to not renew and to terminate the Lease and other limitations as therein provided, the Town is to pay certain Base Rentals directly to the Trustee, for the benefit of the Owners of the Certificates, in consideration of the Town’s right to possess and use the Leased Property. 3.The Trustee has entered into this Indenture for and on behalf of the Owners of the Certificates and the Trustee will hold the Revenues and the Leased Property and will exercise the Trustee’s rights under the Site Lease and the Lease for the equal and proportionate benefit of the Owners of the Certificates as described herein, and will disburse money received by the Trustee in accordance with this Indenture. 4.The proceeds from the sale of the Certificates to the Owners will be disbursed by the Trustee to implement the Development as described herein and in the Lease and for other purposes set forth herein. NOW, THEREFORE, THIS INDENTURE WITNESSETH, that the Trustee, in consideration of the premises, the purchase of the Certificates by the Owners and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, in order to secure the payment of the principal of, premium, if any, and interest on the Certificates and all other amounts payable to the Owners with respect to the Certificates, to secure the performance and observance of all the covenants and conditions set forth in the Certificates and this Indenture, and to declare the terms and conditions upon and subject to which the Certificates are executed, delivered and secured, has executed and delivered this Indenture and has granted, assigned, pledged, bargained, sold, alienated, remised, released, conveyed, set over and confirmed, and by these presents does grant, assign, pledge, bargain, sell, alienate, remise, release, convey, set over and confirm, in trust upon the terms set forth herein all and singular the following described property, franchises and income, including any title or interest therein acquired after these presents, 181 2 all and singular the following described property, franchises and income, including any title therein acquired after these presents (collectively, the “Trust Estate”): (a)All rights, title and interest of the Trustee in, to and under the Site Lease and the Lease relating to the Leased Property, subject to Permitted Encumbrances (other than the Trustee’s rights to payment of its fees and expenses under the Site Lease, the Lease, and the rights of third parties to Additional Rentals payable to them under and the Lease); (b)All Revenues and any other receipts receivable by or on behalf of the Trustee pursuant to the Lease, including without limitation, all Base Rentals, Prepayments, the Purchase Option Price and Net Proceeds; (c)All money and securities from time to time held by the Trustee under this Indenture in the Base Rentals Fund, Reserve Fund and the Costs of Execution and Delivery Fund (but not the Rebate Fund, or any defeasance escrow fund or account), any and all other property, revenues or funds from time to time hereafter by delivery or by writing of any kind specially granted, assigned or pledged as and for additional security hereunder, by any Person in favor of the Trustee, which shall accept any and all such property and hold and apply the same subject to the terms hereof. TO HAVE AND TO HOLD IN TRUST, NEVERTHELESS, the Trust Estate for the equal and ratable benefit and security of all Owners of the Certificates, without preference, priority or distinction as to lien or otherwise of any one Certificate over any other Certificate upon the terms and subject to the conditions hereinafter set forth. PROVIDED, HOWEVER, that if the principal of the Certificates, the premium, if any, and the interest due or to become due thereon, shall be paid at the times and in the manner mentioned in the Certificates, according to the true intent and meaning thereof, and if there are paid to the Trustee all sums of money due or to become due to the Trustee in accordance with the terms and provisions hereof, then, upon such final payments, this Indenture and the rights hereby granted shall cease, terminate and be void, otherwise this Indenture shall be and remain in full force and effect. THIS INDENTURE FURTHER WITNESSETH and it is expressly declared, that all Certificates are to be executed and delivered and all said property, rights, interests, revenues and receipts hereby pledged are to be dealt with and disposed of under, upon and subject to the terms, conditions, stipulations, covenants, agreements, trusts, uses and purposes as hereinafter expressed, and the Trustee has agreed and covenanted, and does hereby agree and covenant, for the benefit of the Owners, as follows: 182 3 DEFINITIONS Certain Funds and Accounts. All references herein to any Funds and Accounts shall mean the Funds and Accounts so designated which are established pursuant to Article 3 hereof. Definitions. All capitalized terms defined in Article 1 of the Lease shall have the same meaning in this Indenture. In addition, the following capitalized terms shall have the following meanings under this Indenture, provided, however, that in the event of any inconsistency, any term defined below shall have the meaning ascribed to it in the Lease. “Additional Certificates” means Additional Certificates which may be executed and delivered pursuant to this Indenture. “Additional Rentals” means the payment or cost of all: (a)(i)reasonable expenses and fees of the Trustee related to the performance or discharge of its responsibilities under the provisions of the Lease, the Site Lease or this Indenture, including the reasonable fees and expenses of any person or firm employed by the Town to make rebate calculations under the provisions of Section 3.05 of this Indenture and the expenses of the Trustee in respect of any policy of insurance obtained in respect of the Certificates executed and delivered with respect to the Lease, (ii)the cost of insurance premiums and insurance deductible amounts under any insurance policy reasonably deemed to protect the Trustee from any liability under the Lease, approved by the Town Representative, which approval shall not be unreasonably withheld,(iii)reasonable legal fees and expenses incurred by the Trustee to defend the Trust Estate or the Trustee from and against any legal claims related to the performance or discharge of its responsibilities under the provisions of the Lease, the Site Lease,or this Indenture, and (iv)reasonable expenses and fees of the Trustee incurred at the request of the Town Representative; (b)taxes, assessments, insurance premiums, utility charges, and costs of maintenance, upkeep, remediation and restoration, and repair and replacement with respect to the Leased Property and as otherwise required under the Lease; (c)payments into the Reserve Fund, payments to any surety provider as a result of draws of amounts under a Qualified Surety Bond and payments to the Rebate Fund for rebate payments as provided in the Lease; and (d)all other charges and costs (together with all interest and penalties that may accrue thereon in the event that the Town fails to pay the same, as specifically set forth in the Lease) which the Town agrees to assume or pay as Additional Rentals under the Lease. Additional Rentals shall not include Base Rentals. “Approval of Special Counsel” means an opinion of Special Counsel to the effect that the matter proposed will not adversely affect the excludability from gross income for federal income 183 4 tax purposes of the Interest Portion of the Base Rentals paid by the Town under the Lease and attributable to the Certificates. “Authorized Denominations” means $5,000 or integral multiples of $5,000. “Base Rentals” means the rental payments payable by the Town to the Trustee during the Lease Term, which constitute payments payable by the Town for and in consideration of the right to possess and use the Leased Property as set forth in Exhibit C (Base Rentals Schedule) of the Lease. Base Rentals does not include Additional Rentals. “Base Rentals Fund” means the fund created under Section 3.03 hereof. “Beneficial Owners” means any person for which a DTC Participant acquires an interest in the Certificates. “Business Day” means any day, other than a Saturday, Sunday or legal holiday or a day (a) on which banks located in Denver, Colorado are required or authorized by law or executive order to close or (b) on which the Federal Reserve System is closed. “Cede & Co.” means DTC’s nominee or any new nominee of DTC. “Certificate Purchase Agreement” means the Certificate Purchase Agreement between the Underwriter and the Trustee and acknowledged by the Town relating to the Certificates. “Certificates” means the “Certificates of Participation, Series 2025, Evidencing Proportionate Interests in the Base Rentals and other Revenues under an annually renewable Lease Purchase Agreement, dated as of [_______], 2025, between U.S. Bank Trust Company, National Association, solely in its capacity as trustee under the Indenture, as lessor, and the Town of Vail, Colorado, as lessee,” dated as of their date of delivery, executed and delivered pursuant to this Indenture. “Charter” means the Town of Vail Home Rule Charter, as amended. “Closing” means the date of execution and delivery of the Certificates. “Costs of Execution and Delivery” means all items of expense directly or indirectly payable by the Trustee related to the authorization, execution and delivery of the Site Lease and the Lease and related to the authorization, sale, execution and delivery of the Certificates and to be paid from the Costs of Execution and Delivery Fund, including but not limited to, survey costs, title insurance premiums, closing costs and other costs relating to the leasing of the Leased Property under the Site Lease and the Lease, costs of preparation and reproduction of documents, costs of printing the Certificates and the Preliminary and final Official Statements prepared in connection with the offering of the Certificates, costs of Rating Agencies and costs to provide information required by Rating Agencies for the rating or proposed rating of Certificates, initial fees and charges of the Trustee and Paying Agent, legal fees and charges, including fees and expenses of Special Counsel, Special (Disclosure) Counsel, Counsel to the Trustee, if any, and Counsel to the Underwriter, if any, fees and disbursements of other professionals and the Underwriter, fees and charges for preparation, execution and safekeeping of the Certificates, premiums for insurance on the 184 5 Certificates or for the costs of Qualified Surety Bonds that are deposited to the Reserve Fund in connection with the execution and delivery of the Certificates, and any other cost, charge or fee in connection with the original sale and the execution and delivery of the Certificates; provided, however, that Additional Rentals shall not be Costs of Execution and Delivery of the Certificates and are to be paid by the Town as provided in the Lease. “Costs of Execution and Delivery Fund” means the fund created under Section 3.06 hereof. “Council” means the Town Council of the Town. “C.R.S.” means Colorado Revised Statutes, as amended from time to time. “Depository” means any securities depository as the Trustee may provide and appoint pursuant to Section 2.03 hereof, in accordance with then current guidelines of the Securities and Exchange Commission, which shall act as securities depository for the Certificates. “Development”means the West Middle Creek housing development, a for-rent housing development located in the Town. “DTC” means the Depository Trust Company, New York, New York, and its successors and assigns. “DTC Participant(s)” means any broker-dealer, bank or other financial institution from time to time for which DTC holds Certificates as Depository. “Electronic Means”or “electronic means” means telecopy, facsimile transmission, email transmission or other similar electronic means of communication providing evidence of transmission. “Event(s) of Indenture Default” means those defaults specified in Section 7.01 of this Indenture. “Extraordinary Mandatory Redemption” means any redemption made pursuant to Section 4.03 hereof. “Federal Securities” means non-callable bills, certificates of indebtedness, notes or bonds which are direct obligations of, or the principal of and interest on which are unconditionally guaranteed by, the United States of America. “Finance Director” means the Finance Director of the Town or his or her successor in functions, if any. “Fiscal Year” means the Town’s fiscal year, which begins on January 1 of each calendar year and ends on December 31 of the same calendar year, or any other twelve month period which the Town or other appropriate authority hereafter may establish, after notification to the Trustee and the Owners, as the Town’s fiscal year. 185 6 “Indenture” means this Indenture of Trust dated as of [_______], 2025, executed and delivered by the Trustee as the same may be hereafter amended or supplemented. “Interest Payment Date” means, in respect of the Certificates, each June 1 and December 1, commencing [June 1, 2025]. “Lease” means the Lease Purchase Agreement dated as of [_______], 2025, between the Trustee, as lessor, and the Town, as lessee, as the same may be amended. “Leased Property” means the Site and the premises, buildings and improvements situated thereon, including all fixtures attached thereto, as more particularly described in Exhibit A to the Lease, together with any and all additions and modifications thereto and replacements thereof, including, without limitation, the Permitted Encumbrances and any New Facility. “Mayor” means the Mayor of the Town. “New Facility” means any real property, buildings or equipment leased by the Town to the Trustee pursuant to a future amendment to the Site Lease and leased back by the Town from the Trustee pursuant to a future amendment to the Lease in connection with the execution and delivery of Additional Certificates. “Optional Redemption” means any redemption made pursuant to Section 4.01 hereof and as provided in the form of the Certificates set forth in Exhibit A hereto. “Optional Redemption Date” means the date of redemption of the Certificates upon Prepayment of Base Rentals or the payment of the Purchase Option Price under the Lease. “Outstanding” means, with respect to the Certificates, all Certificates executed and delivered pursuant to this Indenture as of the time in question, except: (a)All Certificates theretofore canceled or required to be canceled under Section 2.07 of this Indenture; (b)Certificates in substitution for which other Certificates have been executed and delivered under Sections 2.05 or 2.06 of this Indenture; (c)Certificates which have been redeemed as provided in Article 4 of this Indenture; (d)Certificates for the payment or redemption of which provision has been made in accordance with Article 6 of this Indenture; provided that, if such Certificates are being redeemed, the required notice of redemption has been given or provision satisfactory to the Trustee has been made therefor; and (e)Certificates deemed to have been paid pursuant to Section 6.01 of this Indenture. “Owner” means the registered owner of any Certificates and Beneficial Owners. 186 7 “Paying Agent” means the Trustee or any successor or additional paying agent appointed pursuant to this Indenture. “Permitted Investments” means those investments the Town is authorized to make under the Charter and the laws of the State of Colorado “Prepayment” means any amount paid by the Town pursuant to the provisions of the Lease as a prepayment of the Base Rentals due thereunder. “Project” means, to the extent financed with the proceeds of the Certificates, the granting of a loan to the Vail Home Partners Corporation to acquire, construct, install, and equip the Development, including any legally permitted costs and expenditures in connection therewith, all for public purposes, and as authorized by law, and payment of the costs of issuing the Certificates. “Qualified Surety Bond”means any insurance policy, surety bond, irrevocable letter of credit, or similar instrument deposited in or credited to the Reserve Fund in lieu of or in partial substitution for moneys on deposit therein. “Rating Agency” or “Rating Agencies” means Moody’s Investors Service or other nationally recognized securities rating agency or agencies as may be directed by the Town in writing to the Trustee. “Rebate Fund” means the fund created under Section 3.05 hereof. “Regular Record Date” means the close of business on the 15th day of the calendar month immediately preceding the Interest Payment Date (whether or not a Business Day). “Reserve Fund”means the special fund maintained under and to be disbursed as provided in Section 3.04 of this Indenture, if any. The Reserve Fund shall secure the payment of the Certificates and any Additional Certificates on a separate basis, if such a reserve fund is otherwise provided in the ordinance or indenture authorizing the issuance of Additional Certificates. “Reserve Fund Requirement”if specified in the Sale Certificate, means the least of (i) 10% of the proceeds of the Certificates, (ii) the maximum annual principal and interest payable with respect to the Certificates, or (iii) 125% of the average annual principal and interest payable with respect to the Certificates. For purposes of this definition of Reserve Fund Requirement, the term “proceeds” means the aggregate stated principal amount of such Certificates, unless there is more than a de minimis amount (as defined in Section 1.148-1(b) of the Regulations) of original issue discount or premium, in which case “proceeds” means issue price. The Reserve Fund, if any, shall secure only each individual series of Certificates. Separate Reserve Funds shall be established for any series of Additional Certificates issued pursuant to this Indenture. “Revenues” means (a) all amounts payable by or on behalf of the Town or with respect to the Leased Property pursuant to the Lease including, but not limited to, all Base Rentals, prepayments under the Lease, the Purchase Option Price and Net Proceeds, but not including Additional Rentals (except for payments made by the Town as Additional Rentals to initially fund or replenish the Reserve Fund); (b) any portion of the proceeds of the Certificates deposited into the Base Rentals Fund and the Reserve Fund, each created under this Indenture; (c) any moneys 187 8 which may be derived from any insurance in respect of the Certificates; and (d) any moneys and securities, including investment income, held by the Trustee in the Funds and Accounts established under this Indenture (except for moneys and securities held in the Rebate Fund or any other defeasance escrow account). “Site” means the real property owned by the Town and leased by the Town to the Trustee under the Site Lease and subleased by the Trustee to the Town under the Lease, the legal description of which is set forth in Exhibit A to the Lease. “Site Lease” means the Site Lease Agreement, dated as of [_______], 2025, between the Town, as lessor, and the Trustee, as lessee, as the same may hereafter be amended. “Special Counsel” means any counsel experienced in matters of municipal law and listed in the list of municipal bond attorneys, as published semiannually by The Bond Buyer, or any successor publication. So long as the Lease Term is in effect, the Town shall have the right to select Special Counsel. “Supplemental Act” means the Supplemental Public Securities Act, constituting Title 11, Article 57, Part 2, C.R.S. “Tax Certificate” means the Tax Compliance and No Arbitrage Certificate entered into by the Town with respect to the Lease and the Certificates. “Tax Code” means the Internal Revenue Code of 1986, as amended, and all regulations and rulings promulgated thereunder. “Town” means the Town of Vail, Colorado. “Town Manager” means the Town Manager of the Town or the Town Manager’s successor in functions, if any. “Town Representative” means the Mayor, the Town Manager, or the Finance Director or such other person at the time designated to act on behalf of the Town for the purpose of performing any act under the Lease, the Site Lease or this Indenture by a written certificate furnished to the Trustee containing the specimen signature of such person or persons and signed on behalf of the Town by the Mayor. “Trust Estate” means all of the property placed in trust by the Trustee pursuant to the Granting Clauses hereof. “Trustee” means U.S. Bank Trust Company, National Association, solely in its capacity as Trustee under this Indenture for the benefit of the Owners of the Certificates and any Additional Certificates, and its successors and assigns. “Underwriter” means Piper Sandler & Co., Denver, Colorado. 188 9 THE CERTIFICATES Amount of the Certificates; Nature of the Certificates. Except as provided in Section 2.08 hereof, the aggregate original principal amount of Certificates that may be executed and delivered pursuant to this Indenture shall be $[_____]. The Certificates shall constitute proportionate interests in the Trustee’s right to receive the Base Rentals under the Lease and other Revenues. The Certificates shall constitute a contract between the Trustee and the Owners. In no event shall any decision by the Council not to appropriate any amounts payable under the Lease be construed to constitute an action impairing such contract. The Certificates shall constitute proportionate interests in the Trustee’s right to receive the Base Rentals under the Lease and other revenues. In no event shall any decision by the Council not to appropriate any amounts payable under the Lease be construed to constitute an action impairing such contract. The Certificates shall not constitute a mandatory charge or requirement of the Town in any ensuing Fiscal Year beyond the current Fiscal Year, and shall not constitute or give rise to a general obligation or other indebtedness of the Town or a multiple fiscal year direct or indirect debt or other financial obligation whatsoever of the Town, within the meaning of any constitutional, home rule charter or statutory debt provision or limitation. No provision of the Certificates shall be construed or interpreted as creating a delegation of governmental powers nor as a donation by or a lending of the credit of the Town within the meaning of Sections 1 or 2 of Article XI of the Colorado Constitution. The execution and delivery of the Certificates shall not directly or indirectly obligate the Town to renew the Lease from Fiscal Year to Fiscal Year or to make any payments beyond those appropriated for the Town’s then current Fiscal Year. Forms, Denominations, Maturities and Other Terms of Certificates. The Certificates shall be in substantially the form attached hereto as Exhibit A and all provisions and terms of the Certificates set forth therein are incorporated in this Indenture. The Certificates shall be executed and delivered in fully registered form in Authorized Denominations not exceeding the aggregate principal amount stated to mature on any given date. The Certificates shall be numbered consecutively in such manner as the Trustee determines; provided that while the Certificates are held by a Depository, one Certificate shall be executed and delivered for each maturity bearing interest at the same interest rate of the Outstanding Certificates. The Certificates are executed and delivered under the authority of the Supplemental Act and shall so recite. Pursuant to Section 11-57-210 of the Supplemental Act, such recital shall be conclusive evidence of the validity and the regularity of the execution and delivery of the Certificates after their delivery for value. The Certificates shall be dated [_______], 2025. The Certificates bear interest from their date to maturity or prior redemption at the rates per annum set forth below, payable on each Interest Payment Date and calculated on the basis of a 360-day year of twelve 30-day months. The payment of principal, premium, if any, and interest represented by the Certificates shall be made in lawful money of the United States of America. 189 10 The Certificates shall mature on the dates and in the amounts, with interest thereon, at the rates per annum set forth below: Maturity Date (December 1) Principal Amount Interest Rate TOTAL $[_____] The Certificates are subject to redemption prior to maturity, all as provided in Article 4 hereof. Except for any Certificates for which DTC is acting as Depository or for an Owner of $1,000,000 or more in aggregate principal amount of Certificates, the principal of, premium, if any, and interest on all Certificates shall be payable to the Owner thereof at its address last appearing on the registration books maintained by the Trustee. In the case of any Certificates for which DTC is acting as Depository, the principal of, premium, if any, and interest on such Certificates shall be payable as directed in writing by the Depository. In the case of an Owner of $1,000,000 or more in aggregate principal amount of Certificates, the principal of, premium, if any, and interest on such Certificates shall be payable by wire transfer of funds to a bank account located in the United States designated by the Certificate Owner in written instructions to the Trustee. Interest shall be paid to the Owner of each Certificate, as shown on the registration books kept by the Trustee, as of the close of business on the Regular Record Date, irrespective of any transfer of ownership of Certificates subsequent to the Regular Record Date and prior to such Interest Payment Date, or on a special record date, which shall be fixed by the Trustee for such purpose, irrespective of any transfer of ownership of Certificates subsequent to such special record date and prior to the date fixed by the Trustee for the payment of such interest. Notice of the special record date and of the date fixed for the payment of such interest shall be given by providing a copy thereof by electronic means or by first class mail postage prepaid at least ten (10) days prior 190 11 to the special record date, to the Owner of each Certificate upon which interest will be paid, determined as of the close of business on the day preceding the giving of such notice. Execution; Global Book-Entry System. Each Certificate shall be executed with the manual signature of a duly authorized representative of the Trustee. It shall not be necessary that the same authorized representative of the Trustee sign all of the Certificates executed and delivered hereunder. In case any authorized representative of the Trustee whose signature appears on the Certificates ceases to be such representative before delivery of the Certificates, such signature shall nevertheless be valid and sufficient for all purposes, the same as if such authorized representative had remained as such authorized representative until delivery. No Certificate shall be valid or obligatory for any purpose or entitled to any security or benefit hereunder unless and until executed in the manner prescribed by this Section, and such execution of any Certificate shall be conclusive evidence that such Certificate has been properly executed and delivered hereunder. DTC is initially acting as Depository for any Certificates. The Certificates for which DTC is acting as Depository shall be initially executed and delivered as set forth herein with a separate fully registered certificate (in printed or type-written form) for each of the maturities bearing interest at the same interest rate of the Certificates. Upon initial execution and delivery, the ownership of any Certificates for which DTC is acting as Depository shall be registered in the registration books kept by the Trustee, in the name of Cede & Co., as the nominee of DTC or such other nominee as DTC shall appoint in writing to the Trustee. The Trustee is hereby authorized to take any and all actions as may be necessary and not inconsistent with this Indenture in order to qualify any Certificates for the Depository’s book-entry system, including the execution of the Depository’s form of Representation Letter. With respect to any Certificates which shall or may be registered in the registration books kept by the Trustee in the name of Cede & Co., as nominee of DTC, the Trustee shall not have any responsibility or obligation to any DTC Participants or to any Beneficial Owners. Without limiting the immediately preceding sentence, the Trustee shall not have any responsibility or obligation with respect to (a)the accuracy of the records of DTC, Cede & Co. or any DTC Participant with respect to any ownership interest in the Certificates, (b)the delivery to any DTC Participant, any Beneficial Owner or any other person, other than DTC, of any notice with respect to the Certificates, including any notice of redemption, or (c)the payment to any DTC Participant, any Beneficial Owner or any other person,other than DTC, of any amount with respect to the principal of and premium, if any, or interest on the Certificates; except that so long as any Certificate is registered in the name of Cede & Co., as nominee of DTC, any Beneficial Owner of $1,000,000 or more in aggregate principal amount of Certificates who has filed a written request to receive notices, containing such Beneficial Owner’s name and address, with the Trustee shall be provided with all notices relating to such Certificates by the Trustee. Except as set forth above, the Trustee may treat as and deem DTC or its nominee to be the absolute Owner of each Certificate for which DTC is acting as Depository for all purposes, including payment of the principal of and premium and interest on such Certificate, giving notices of redemption and registering transfers with respect to such Certificates. The Trustee shall pay all 191 12 principal of and interest on the Certificates only to or upon the order of the Owners as shown on the registration books kept by the Trustee or their respective attorneys duly authorized in writing and all such payments shall be valid and effective to fully satisfy and discharge the obligations with respect to the principal of and interest on the Certificates to the extent of the sum or sums so paid. No person other than an Owner, as shown on the registration books kept by the Trustee, shall receive a Certificate. Upon delivery by DTC to the DTC Participants and the Trustee, a written notice to the effect that DTC has determined to substitute a new nominee in place of Cede & Co., and subject to the transfer provisions in Section 2.06 hereof, references to “Cede & Co.” in this Section shall refer to such new nominee of DTC. DTC may determine to discontinue providing its services with respect to any Certificates at any time after giving written notice to the Trustee and discharging its responsibilities with respect thereto under applicable law. The Trustee, upon the written direction of the Town, may terminate the services of DTC with respect to any Certificates if it determines that DTC is unable to discharge its responsibilities with respect to such Certificates or that continuation of the system of book-entry transfers through DTC is not in the best interests of the Beneficial Owners,and the Trustee shall provide notice of such termination to the Depository. Upon the termination of the services of DTC as provided in the previous paragraph, and if no substitute depository willing to undertake the functions of DTC in respect of the Certificates can be found which, in the opinion of the Town is willing and able to undertake such functions upon reasonable or customary terms, or if the Town determines that it is in the best interests of the Beneficial Owners of the Certificates that they be able to obtain certificated Certificates, the Certificates shall no longer be restricted to being registered in the registration books of the Trustee in the name of Cede & Co., as nominee of DTC, but may be registered in whatever name or names the Owners shall designate at that time, in accordance with Section 2.06. To the extent that the Beneficial Owners are designated as the transferee by the Owners, in accordance with Section 2.06, the Certificates will be delivered to the Beneficial Owners. Delivery of Certificates. Upon the execution and delivery of this Indenture, the Trustee is authorized to execute the Certificates in the name of Cede & Co. and to deliver the Certificates as directed by DTC in the aggregate principal amounts, maturities and interest rates set forth in Section 2.01 hereof, as provided in this Section: (a)Before or upon the delivery by the Trustee of any of the Certificates, there shall be filed with the Trustee an originally executed counterpart of this Indenture, the Lease, the Site Lease and a title insurance commitment or commitments (with a title insurance policy to be delivered in a timely fashion after the delivery of the Certificates) under which the Trustee’s leasehold interests in the Leased Property are insured; and (b)Thereupon, the Trustee shall execute and deliver the Certificates to DTC or the purchasers thereof, upon payment to the Trustee of the purchase price set forth in the Certificate Purchase Agreement. Notwithstanding anything herein to the contrary, the Trustee is authorized to execute and transfer or cause to be transferred to DTC in advance of the date of execution and delivery of the Certificates, Certificates to effect the 192 13 registration and delivery thereof to the Owners pending and subject to the delivery of the opinion of Special Counsel necessary to effect the delivery of the Certificates. Mutilated, Lost, Stolen or Destroyed Certificates. In the event the Certificates are in the hands of DTC or Owners and one or more of the Certificates is mutilated, lost, stolen or destroyed, a new Certificate may be executed by the Trustee, of like date, series, maturity, interest rate and denomination as that mutilated, lost, stolen or destroyed; provided that the Trustee shall have received indemnity from DTC or the Owner of the Certificate, as the case may be, satisfactory to it and provided further, in case of any mutilated Certificate, that such mutilated Certificate shall first be surrendered to the Trustee, and in the case of any lost, stolen or destroyed Certificate, that there shall be first furnished to the Trustee evidence of such loss, theft or destruction satisfactory to the Trustee. In the event that any such Certificate shall have matured, instead of executing and delivering a duplicate Certificate, the Trustee may pay the same without surrender thereof. The Trustee may charge DTC or the Owner of the Certificate, as the case may be, with its reasonable fees and expenses in connection herewith. Registration of Certificates; Persons Treated as Owners; Transfer and Exchange of Certificates. Books for the registration and for the transfer of Certificates shall be kept by the Trustee which is hereby appointed the registrar. Upon surrender for transfer of any Certificate at the principal corporate trust office of the Trustee or at such other location as it shall designate, the Trustee shall execute and deliver in the name of the transferee or transferees a new Certificate or Certificates of the same series, of a like aggregate principal amount and interest rate and of the same maturity. Certificates may be exchanged at the principal corporate trust office of the Trustee or at such other location as it shall designate for an equal aggregate principal amount of Certificates of the same series, interest rate, and the same maturity of other Authorized Denominations. The Trustee shall execute and deliver Certificates which the Owner making the exchange is entitled to receive, bearing numbers not contemporaneously outstanding. All Certificates presented for transfer or exchange shall be accompanied by a written instrument or instruments of transfer or authorization for exchange, in form and with guaranty of signature satisfactory to the Trustee, duly executed by the Owner or by his or her attorney duly authorized in writing. The Trustee shall not be required to transfer or exchange any Certificate during the period of fifteen (15) days next preceding any Interest Payment Date nor to transfer or exchange any Certificate after providing of notice calling such Certificate for redemption has been made as herein provided, nor during the period of fifteen (15) days next preceding the provision of such notice of redemption. New Certificates delivered upon any transfer or exchange shall evidence the same obligations as the Certificates surrendered, shall be secured by this Indenture and entitled to all of the security and benefits hereof to the same extent as the Certificates surrendered. The person in whose name any Certificate shall be registered shall be deemed and regarded as the absolute owner thereof for all purposes, and payment of or on account of either principal or interest on any Certificate shall be made only to or upon the written order of the Owner thereof or his, her or its 193 14 legal representative, but such registration may be changed as hereinabove provided. All such payments shall be valid and effectual to satisfy and discharge such Certificate to the extent of the sum or sums paid. The Trustee shall require the payment, by any Owner requesting exchange or transfer of Certificates, of any transfer fees, tax, fee or other governmental charge required to be paid with respect to such exchange or transfer as a precondition to such exchange or transfer. Cancellation of Certificates. Whenever any outstanding Certificates shall be delivered to the Trustee for cancellation pursuant to this Indenture, upon payment thereof or for or after replacement pursuant to Sections 2.05 or 2.06 hereof, such Certificates shall be promptly canceled and destroyed by the Trustee in accordance with customary practices of the Trustee and applicable record retention requirements. Additional Certificates. So long as no Event of Indenture Default, Event of Nonappropriation or Event of Lease Default has occurred and is continuing and the Lease Term is in effect, one or more series of Additional Certificates may be executed and delivered upon the terms and conditions set forth herein. The principal of any Additional Certificates shall mature on December 1 and the Interest Payment Dates therefor shall be the same as the Interest Payment Dates for the Certificates; otherwise the times and amounts of payment of Additional Certificates shall be as provided in the supplemental ordinance or indenture and amendment to the Lease entered into in connection therewith. Additional Certificates may be executed and delivered without the consent of or notice to the Owners of Outstanding Certificates, to provide moneys to pay any one or more of the following: (a)The costs of acquiring, constructing, improving and installing any capital improvements of the Town or any New Facility, or of acquiring a Site for any capital projects or New Facility (and costs reasonably related thereto); (b)The costs of completing the Project or making, at any time or from time to time, such substitutions, additions, modifications and improvements for or to the Leased Property as the Town may deem necessary or desirable, and as in accordance with the provisions of the Lease; or (c)For the purpose of refunding or refinancing all or any portion of Outstanding Certificates or Additional Certificates. In such case, the Costs of Execution and Delivery of the Additional Certificates, the amount to be deposited to a separate Reserve Fund, if any, for such Additional Certificates, or the costs of acquiring a Qualified Surety Bond,and other costs reasonably related to the purposes for which Additional Certificates are being executed and delivered may be included. 194 15 Additional Certificates may be executed and delivered only upon there being furnished to the Trustee: (a)Originally executed counterparts of a supplemental Indenture and related and necessary amendments to the Site Lease and the Lease (including any necessary amendment to the Base Rentals Schedule); and (b)A commitment or other evidence that the amount of the title insurance policy delivered in respect of the Certificates will be increased, if necessary, to reflect the amount of the Additional Certificates and all other Outstanding Certificates (or such lesser amount as shall be the maximum insurable value of the real property included in the Leased Property); and (c)A written opinion of Special Counsel to the effect that: (i)the execution and delivery of Additional Certificates have been duly authorized and that all conditions precedent to the delivery thereof have been fulfilled; (ii)the excludability of interest from gross income for federal income tax purposes on Outstanding Certificates will not be adversely affected by the execution and delivery of the Additional Certificates being executed and delivered; and (iii)the sale, execution and delivery of the Additional Certificates, in and of themselves, will not constitute an Event of Indenture Default or an Event of Lease Default nor cause any violation of the covenants or representations herein or in the Lease; and (d)Written directions from the underwriter, placement agent or financial advisor with respect of the Additional Certificates, together with written acknowledgment of the Town Representative, to the Trustee to deliver the Additional Certificates to the purchaser or purchasers therein identified upon payment to the Trustee of a specified purchase price. Each Additional Certificate executed and delivered pursuant to this Section shall evidence a proportionate interest in the rights to receive the Revenues under this Indenture and shall be ratably secured with all Outstanding Certificates and in respect of all Revenues, and shall be ranked pari passu with such Outstanding Certificates and with Additional Certificates that may be executed and delivered in the future, if any. References to “Certificates” in this Indenture shall include Additional Certificates where applicable. Uniform Commercial Code. Subject to the registration provisions hereof, the Certificates shall be fully negotiable and shall have all the qualities of negotiable paper, and the owner or owners thereof shall possess all rights enjoyed by the holders or owners of investment securities under the provisions of the Uniform Commercial Code-Investment Securities. The principal of and interest on the Certificates shall be paid, and the Certificates shall be transferable, 195 16 free from and without regard to any equities, set-offs or cross-claims between or among the Town, the Trustee and the original or any intermediate owner of any Certificates. 196 17 REVENUES AND FUNDS Segregation and Disposition of Proceeds of Certificates. The proceeds of the Certificates (net of Underwriter’s discount plus original issue premium) shall be accounted for as follows: (a)$[_____]shall be deposited with the Town and loaned to the Corporation to finance the costs of the Project in accordance with this Indenture and the Tax Certificate. (b)$[_____]shall be deposited in the Costs of Execution and Delivery Fund and applied to the Costs of Execution and Delivery of the Lease, the Site Lease and the Certificates. Application of Revenues and Other Moneys. (a)All Base Rentals payable under the Lease and other Revenues shall be paid directly to the Trustee. If the Trustee receives any other payments on account of the Lease, the Trustee shall immediately deposit the same as provided below. (b)Except for Net Proceeds to be applied pursuant to Section 9.02 of the Lease and Additional Rentals required to be deposited in the Reserve Fund, if any, the Trustee shall deposit all Revenues and any other payments received in respect of the Lease, immediately upon receipt thereof, to the Base Rentals Fund in an amount required to cause the aggregate amount on deposit therein to equal the amount then required to make the principal and interest payments due on the Certificates on the next Interest Payment Date. In the event that the Trustee receives Prepayments under the Lease, the Trustee shall apply such Prepayments to the Optional Redemption of the Certificates or portions thereof in accordance with Section 4.01 hereof. Base Rentals Fund. A special fund is hereby created and established with the Trustee designated the “Town of Vail, Colorado, 2025 Lease Purchase Agreement, Base Rentals Fund” which shall be used for the deposit of all Revenues, upon receipt thereof by the Trustee, except for Net Proceeds to be applied pursuant to Section 9.02 of the Lease and Additional Rentals required to be deposited in the Reserve Fund. Moneys in the Base Rentals Fund shall be used solely for the payment of the principal of and interest on the Certificates whether on an Interest Payment Date, at maturity or upon prior redemption, except as provided in Section 3.05 hereof. The Base Rentals Fund shall be in the custody of the Trustee. Base Rental payments are due and payable to the Trustee on or before each May 15 and November 15 of each year during the Lease Term. The Trustee shall withdraw sufficient funds from the Base Rentals Fund to pay the principal of and interest on the Certificates as the same become due and payable whether on an Interest Payment Date, at maturity or upon prior redemption, which responsibility, to the extent of the moneys therein, the Trustee hereby accepts. Any moneys held in the Base Rentals Fund shall be invested by the Trustee in accordance with Article 5 hereof. 197 18 Reserve Fund A special fund is hereby created to be held by the Trustee and designated as the “Town of Vail, Colorado, 2025 Lease Purchase Agreement Reserve Fund” (the “Reserve Fund”). THE RESERVE FUND IS NOT REQUIRED AND SHALL NOT BE FUNDED AT THE TIME OF EXECUTION AND DELIVERY OF THE CERTIFICATES. Concurrently with the execution and delivery of any series of Additional Certificates that are secured by the Reserve Fund, there shall be deposited to a separate account of the Reserve Fund, from the proceeds derived from the sale of such Additional Certificates or from other available moneys, such amount, if any, as may be necessary to fund the separate Reserve Fund to the then applicable Reserve Fund Requirement. Any moneys paid by the Town pursuant to the last paragraph of this Section 3.04 shall also be deposited to the Reserve Fund. Moneys held in the Reserve Fund shall be invested and reinvested by the Trustee in accordance with Article 5 of this Indenture. Except to the extent transferred to the Rebate Fund, income derived from the investment of the moneys in the Reserve Fund shall be retained in the Reserve Fund to the extent the amount on deposit therein is less than the Reserve Fund Requirement. If the amount on deposit in the Reserve Fund exceeds the Reserve Fund Requirement for any reason, the amount to be released from the Reserve Fund shall be applied as directed in writing by the Town. Any excess amount released from the Reserve Fund may be deposited in the Base Rentals Fund, for use as provided in Section 3.03 hereof, or deposited into a defeasance escrow account, or may be applied for other purposes, as directed in writing by the Town and in accordance with the Town’s covenant in Section 10.5 of the Lease. Except as hereinafter provided, moneys held in the Reserve Fund, excluding income derived from the investment thereof, shall be applied to any of the following purposes: (a)To the payment of the principal amount of the Certificates and any Additional Certificates secured by the Reserve Fund and interest thereon, as the same shall become due, to the extent of any deficiency in the Base Rentals Fund; (b)At the option of the Trustee, to the payment of any Additional Rentals in the event the Town fails to make payment thereof; (c)At the option of the Trustee, subsequent to the occurrence of an Event of Nonappropriation or an Event of Indenture Default, to the payment of any cost or expense necessary to preserve or protect the Leased Property or the interest of the Trustee or the Certificate Owners therein, or necessary to make any repairs or modifications to the Leased Property in preparation for subleasing the Leased Property or other disposition thereof, or the fees and expenses of the Trustee including fees and expenses of its Counsel, as the Trustee may deem to be in the best interests of the Certificate Owners; (d)Except to the extent applied pursuant to (c) above, upon the termination of the Lease Term by reason of the occurrence of an Event of Nonappropriation or an Event of Indenture Default, to the redemption or payment of the Certificates and any Additional Certificates secured by the Reserve Fund then Outstanding and the payment of interest thereon; 198 19 (e)In the event that the Town shall exercise its option to purchase the Trustee’s leasehold interest in the Leased Property and terminate the Lease Term upon payment of the Purchase Option Price, to the Town, or, at the option of the Town, as a reduction of such Purchase Option Price; (f)At the option of the Town, in reduction of the final and, to the extent sufficient therefor, the next preceding payments of Base Rentals (in inverse order) payable by the Town under the Lease; or (g)To be deposited in escrow for the payment or defeasance of the Certificates and any Additional Certificates secured by the Reserve Fund pursuant to Article 6 hereof. Notwithstanding the foregoing or any other provisions in this Indenture, to the extent that the Reserve Fund is funded in whole or in part with a Qualified Surety Bond, the Trustee shall draw on any such Qualified Surety Bond only for the purpose of paying the principal of or interest on the Certificates secured by such Qualified Surety Bond to the extent of any deficiency in the Base Rental Fund and for no other purposes, unless approved in writing by the provider of such Qualified Surety Bond. The Town may at any time substitute (i) cash or Permitted Investments for a Qualified Surety Bond, (ii) a Qualified Surety Bond for cash or Permitted Investments, (iii) a Qualified Surety Bond for another Qualified Surety Bond so long as the amount on deposit in the Reserve Fund after any such substitution is at least equal to the Reserve Fund Requirement, or (iv) a combination of cash and/or one or more Qualified Surety Bonds. Notwithstanding the foregoing, or any other provisions contained herein, no Qualified Surety Bond shall be accepted by the Trustee for substitution for cash or Permitted Investments unless the Trustee has received an opinion of Special Counsel to the effect that such substitution and the intended use by the Town of the cash or Permitted Investments to be released from the Reserve Fund will not adversely affect the exclusion from gross income for federal income tax purposes of interest on the Certificates. For the purposes of determining the amount on deposit in the Reserve Fund, a Qualified Surety Bond shall be valued at the amount available to be drawn thereunder. If the Reserve Fund contains both cash and a Qualified Surety Bond, all cash held in the Reserve Fund shall be applied to the purposes of the Reserve Fund before a demand is made on the Qualified Surety Bond. In the event that the Reserve Fund contains two or more Qualified Surety Bonds, demands shall be made on such Qualified Surety Bonds on a pro-rata basis. All Revenues available for replenishment of the Reserve Fund shall be applied first to reimburse the providers of the Qualified Surety Bonds, and second to replenish cash in the Reserve Fund. To the extent that draws are made on a Qualified Surety Bond that has been deposited in the Reserve Fund, the Town has agreed to make any required payments to the provider of such Qualified Surety Bond as Additional Rentals. The Town has further agreed that failure by the Town to budget and appropriate moneys for the payment of Additional Rentals shall constitute an Event of Nonappropriation. 199 20 Rebate Fund. A special fund is hereby created and established to be held by the Trustee, and to be designated the “Town of Vail, Colorado, 2025 Lease Purchase Agreement, Rebate Fund” (the “Rebate Fund”). To the extent necessary to comply with the provisions of the Tax Certificate, the Trustee shall transfer into the Rebate Fund investment income on moneys in any fund created hereunder (except defeasance escrows). In addition to the deposit of investment income as provided herein, there shall be deposited into the Rebate Fund moneys received from the Town as Additional Rentals for rebate payments pursuant to the Lease; moneys transferred to the Rebate Fund from any other fund created hereunder pursuant to the provisions of this Section; and all other moneys received by the Trustee when accompanied by directions not inconsistent with the Lease or this Indenture that such moneys are to be paid into an account of the Rebate Fund. The Town will cause (or direct the Trustee to cause) amounts on deposit in the Rebate Fund to be forwarded to the United States Treasury at the address and times provided in the Tax Certificate, and in the amounts calculated to ensure that the Town’s rebate obligations are met, in accordance with the Town’s tax covenants in Section 10.5 of the Lease. Amounts on deposit in the Rebate Fund shall not be subject to the lien of this Indenture to the extent that such amounts are required to be paid to the United States Treasury. If, at any time after the Trustee receives instructions by the Town to make any payments from the Rebate Fund, the Trustee determines that the moneys on deposit in an account of the Rebate Fund are insufficient for the purposes thereof, and if the Trustee does not receive Additional Rentals or cannot transfer investment income so as to make the amount on deposit in the appropriate account in the Rebate Fund sufficient for its purpose, the Trustee may transfer moneys to an account in the Rebate Fund from the following funds in the following order of priority: the Reserve Fund (to the extent it is cash-funded), and the Base Rentals Fund. Any moneys so advanced from the Reserve Fund shall be included in the Town’s estimates of Additional Rentals for the ensuing Fiscal Year pursuant to the Lease, and any moneys so advanced from the Base Rentals Fund shall be included as an Additional Rental for the current Fiscal Year pursuant to the Lease, and shall be repaid to the fund from which advanced upon payment to the Trustee of such Additional Rentals. Upon receipt by the Trustee of an opinion of Special Counsel to the effect that the amount in an account of the Rebate Fund is in excess of the amount required to be therein pursuant to the provisions of the Tax Certificate, such excess shall be transferred to the Base Rentals Fund. The Trustee shall not be responsible for calculating rebate amounts or for the adequacy or correctness of any rebate report. The Town may, at its own expense, retain an independent firm of professionals in such area to calculate such rebate amounts. Notwithstanding the foregoing, in the event that the Lease has been terminated or the Town has failed to comply with Section 10.5 thereof so as to make the amount on deposit in the Rebate Fund sufficient for its purpose, the Trustee shall make transfers of investment income or of moneys from the Base Rentals Fund in such combination as the Trustee determines to be in the best interests of the Certificate Owners. Costs of Execution and Delivery Fund. A special fund is hereby created and established with the Trustee and designated the “Town of Vail, Colorado, 2025 Lease Purchase Agreement Costs of Execution and Delivery Fund.” Upon the delivery of the Certificates there shall be deposited into the Costs of Execution and Delivery Fund from the proceeds of the 200 21 Certificates the amounts directed by Section 3.01 hereof and the Underwriter shall deliver to the Trustee a closing memorandum detailing the anticipated amounts of Costs of Execution and Delivery. Payments from the Costs of Execution and Delivery Fund shall be made by the Trustee upon receipt of a statement or a bill for the provision of Costs of Execution and Delivery of the Certificates approved by the Town Representative. The Trustee shall transfer all moneys remaining in the Costs of Execution and Delivery Fund to the Town upon the final payment of all Costs of Execution and Delivery (and in any event not later than ninety (90) days following the Closing), as certified in writing by the Town Representative. Any such remaining amounts so transferred to the Town shall be deposited by the Town in the Base Rentals Fund. Moneys to be Held in Trust. The ownership of the Base Rentals Fund, Reserve Fund, the Costs of Execution and Delivery Fund, and all accounts within such Funds and any other fund or account created hereunder (except defeasance escrow account) shall be held in trust by the Trustee for the benefit of the Owners of the Certificates; provided that moneys in the Rebate Fund not be held in trust and shall be used only for the specific purpose provided in Section 3.05 hereof. Furthermore, the Trustee shall have no responsibility over or deemed knowledge of any escrow, defeasance, or other fund or account not in trust under this Indenture. Nonpresentment of Certificates. Any moneys deposited with the Trustee pursuant to the terms of this Indenture to be used for the payment of principal of, premium, if any, or interest on any of the Certificates and remaining unclaimed by the Owners of such Certificates for a period of three years after the final due date of any Certificate (during which three-year period such moneys shall not be required to be invested by the trustee), whether the final date of maturity or the final redemption date, shall, if the Town is not at the time, to the knowledge of the Trustee, be in default with respect to any of the terms and conditions contained in this Indenture, in the Certificates or under the Lease, be paid to the Town and such Owners shall thereafter look only to the Town for payment and then only (a)to the extent of the amounts so received by the Town from the Trustee without interest thereon, (b)subject to the defense of any applicable statute of limitations and (c)subject to the Town’s Appropriation of such payment. After payment by the Trustee of all of the foregoing, if any moneys are then remaining under this Indenture, the Trustee shall pay such moneys to the Town as an overpayment of Base Rentals. Repayment to the Town from the Trustee. After payment in full of the Certificates, the interest thereon, any premium thereon, the fees, charges and expenses of the Trustee, any amount required to be deposited to the Rebate Fund, and all other amounts required to be paid hereunder, any amounts remaining in the Base Rentals Fund, Reserve Fund to the extent it is cash funded), the Costs of Execution and Delivery Fund, or otherwise held by the Trustee pursuant hereto (but excluding the Rebate Fund and any defeasance escrow accounts) shall be paid to the Town upon the expiration or sooner termination of the Lease Term as a return of an overpayment of Base Rentals. After payment of all amounts due and owing the federal government held in the Rebate Fund, if any, any excess amounts in the Rebate Fund shall be paid to the Town. 201 22 REDEMPTION OF CERTIFICATES Optional Redemption. The Certificates maturing on or prior to December 1,20[__],shall not be subject to optional redemption prior to their respective maturity dates. The Certificates maturing on and after December 1, 20[__],shall be subject to redemption prior to their respective maturity dates at the option of the Town, in whole or in part, in integral multiples of $5,000, and if in part in such order of maturities as the Town determines and by lot within a maturity, on December 1, 20[__], and on any date thereafter, at a redemption price equal to the principal amount of the Certificates so redeemed plus accrued interest to the redemption date without a premium. In the case of a Prepayment in part of Base Rentals under the Lease, the Trustee shall confirm that the revised Base Rentals Schedule to be provided by the Town Representative pursuant to Section 6.2(a) of the Lease sets forth Principal Portions and Interest Portions of Base Rentals that are equal to the principal and interest due on the Certificates that remain Outstanding after such Optional Redemption. For such confirmation, the Trustee may rely on a certification of the Town Representative or other person as provided in Section 8.07 hereof. Mandatory Sinking Fund Redemption. The Certificates maturing on December 1, 20[__], December 1, 20[__], and December 1,20[__](the “Term Certificates”) are subject to mandatory sinking fund redemption as follows: The following principal amounts of the Certificates maturing December 1,20[__], are subject to mandatory sinking fund redemption (after credit as provided below) on December 1 of the following years: Redemption Date (December 1) Principal Amount _________________ *Final Maturity The following principal amounts of the Certificates maturing December 1,20[__], are subject to mandatory sinking fund redemption (after credit as provided below) on December 1 of the following years: 202 23 Redemption Date (December 1) Principal Amount _________________ *Final Maturity The following principal amounts of the Certificates maturing December 1,20[__], are subject to mandatory sinking fund redemption (after credit as provided below) on December 1 of the following years: Redemption Date (December 1) Principal Amount _________________ *Final Maturity On or before the 30th day prior to each such sinking fund payment date, the Trustee shall proceed to call the Term Certificates indicated above (or any Term Certificate or Certificates issued to replace such Term Certificates) for redemption from the sinking fund on the next December 1, and give notice of such call without other instruction or notice from the Town. The amount of each sinking fund installment may be reduced by the principal amount of any Term Certificates of the maturity and interest rate which are subject to sinking fund redemption on such date and which prior to such date have been redeemed (otherwise than through the operation of the sinking fund) or otherwise canceled and not theretofore applied as a credit against a sinking fund installment. Such reductions, if any, shall be applied in such year or years as may be determined by the Town. Extraordinary Mandatory Redemption. If the Lease is terminated by reason of the occurrence of: (a)An Event of Nonappropriation, or (b)An Event of Lease Default, or (c)In the event that (1)the Leased Property is damaged or destroyed in whole or in part by fire or other casualty, or (2)title to, or the temporary or permanent use of, the Leased Property has been taken by eminent domain by any governmental body or (3)breach of warranty or any material defect with respect to the Leased Property becomes apparent or (4)title to or the use of all or any part of the Leased Property is lost by reason 203 24 of a defect in title thereto or any other reason and the Net Proceeds of any insurance, performance bond or condemnation award, or Net Proceeds received as a consequence of defaults under contracts relating to the Leased Property, made available by reason of such occurrences, shall be insufficient to pay in full, the cost of repairing or replacing the Leased Property, and the Town does not appropriate sufficient funds for such purpose or cause the Lease to be amended in order that Additional Certificates may be executed and delivered pursuant to this Indenture for such purpose, then all Outstanding Certificates shall be required to be called for redemption. If called for redemption, as described herein, the Certificates are to be redeemed in whole on such date or dates as the Trustee may determine, for a redemption price equal to the principal amount thereof, plus accrued interest to the redemption date (subject to the availability of funds described below). If the Net Proceeds, including the Net Proceeds from the exercise of any Lease Remedy under the Lease, otherwise received and other moneys then available under this Indenture are insufficient to pay in full the principal of and accrued interest on all Outstanding Certificates, the Trustee may, or at the request of the Owners of a majority in aggregate principal amount of the Certificates Outstanding, and upon indemnification as provided in Section 8.01(d) of this Indenture, without any further demand or notice, shall, exercise all or any combination of Lease Remedies as provided in the Lease and the Certificates shall be redeemed by the Trustee from the Net Proceeds resulting from the exercise of such Lease Remedies and all other moneys, if any, then on hand and being held by the Trustee for the Owners of the Certificates. If the Net Proceeds resulting from the exercise of such Lease Remedies and other moneys are insufficient to redeem the Certificates at 100% of the principal amount thereof plus interest accrued to the redemption date, then such Net Proceeds resulting from the exercise of such Lease Remedies and other moneys shall be allocated proportionately among the Certificates, according to the principal amount thereof Outstanding. In the event that such Net Proceeds resulting from the exercise of such Lease Remedies and other moneys are in excess of the amount required to redeem the Certificates at 100% of the principal amount thereof plus interest accrued to the redemption date, then such excess moneys shall be paid to the Town as an overpayment of the Purchase Option Price. Prior to any distribution of the Net Proceeds resulting from the exercise of any of such remedies, the Trustee shall be entitled to payment of its reasonable and customary fees for all services rendered in connection with such disposition, as well as reimbursement for all reasonable costs and expenses, including attorneys’ fees, incurred thereby, from proceeds resulting from the exercise of such Lease Remedies and other moneys. IF THE CERTIFICATES ARE REDEEMED PURSUANT TO THIS SECTION 4.03FOR AN AMOUNT LESS THAN THE AGGREGATE PRINCIPAL AMOUNT THEREOF PLUS INTEREST ACCRUED TO THE REDEMPTION DATE, SUCH PARTIAL PAYMENT SHALL BE DEEMED TO CONSTITUTE A REDEMPTION IN FULL OF THE RELATED CERTIFICATES, AND UPON SUCH A PARTIAL PAYMENT NO OWNER OF SUCH CERTIFICATES SHALL HAVE ANY FURTHER CLAIM FOR PAYMENT AGAINST THE TRUSTEE OR THE TOWN. Notwithstanding the foregoing or any other provisions to the contrary in the Lease or this Indenture, if the Net Proceeds resulting from the exercise of such Lease Remedies are insufficient to redeem the Certificates at 100% of the principal amount thereof plus interest accrued to the 204 25 redemption date, the Trustee may, or at the request of the Owners of a majority in aggregate principal amount of the Certificates Outstanding, and upon indemnification as provided in Section 8.01(d) of this Indenture, shall, determine that the Certificates shall not be subject to extraordinary mandatory redemption under this Section 4.03, in which event the Trustee will not apply any Net Proceeds or other available moneys to the redemption of any Certificates prior to their respective maturity dates. In such event, the Trustee shall (a) allocate such Net Proceeds (together with any other available moneys held under this Indenture), proportionately among all Outstanding Certificates, and (b) apply such allocation of Net Proceeds to the payment of the principal of and interest on the Certificates on the regularly scheduled maturity and Interest Payment Dates of the Certificates. Partial Redemption. The Certificates shall be redeemed only in integral multiples of $5,000. The Trustee shall treat any Certificate of denomination greater than $5,000 as representing that number of separate Certificates each of the denomination of $5,000 as can be obtained by dividing the actual principal amount of such Certificate by $5,000. Upon surrender of any Certificate for redemption in part, the Trustee shall execute and deliver to the Owner thereof, at no expense of the Owner, a new Certificate or Certificates of Authorized Denominations in an aggregate principal amount equal to the unredeemed portion of the Certificates so surrendered. Notice of Redemption. Whenever Certificates are to be redeemed under any provision of this Indenture, the Trustee shall, not less than thirty (30) and not more than sixty (60) days prior to the redemption date (except for Extraordinary Mandatory Redemption under Section 4.03, which notice shall be immediate), give notice of redemption to all Owners of all Certificates to be redeemed by electronic means or by mail at their registered addresses, by first class mail, postage prepaid, or in the event that the Certificates to be redeemed are registered in the name of the Depository or its nominee, such notice may, in the alternative, be given by electronic means in accordance with the requirements of the Depository. In addition, the Trustee shall at all reasonable times make available to the Town and any Certificate Owner, including the Depository, if applicable, information as to Certificates which have been redeemed or called for redemption. Any notice of redemption shall: (a)Identify the Certificates to be redeemed; (b)Specify the redemption date and the redemption price; (c)In the event the redemption is occurring under Section 4.01 hereof, state that the Town has given notice of its intent to exercise its option to purchase or prepay Base Rentals under the Lease; (d)State that such redemption is subject to the deposit of the funds related to such option by the Town on or before the stated redemption date; and (e)State that on the redemption date the Certificates called for redemption will be payable at the principal corporate trust office of the Trustee or pursuant to the Depository’s procedures as applicable and that from that date interest will cease to accrue. 205 26 The Trustee may use “CUSIP” numbers in notices of redemption as a convenience to Certificate Owners, provided that any such notice shall state that no representation is made as to the correctness of such numbers either as printed on the Certificates or as contained in any notice of redemption and that reliance may be placed only on the identification numbers containing the prefix established pursuant to this Indenture. Any notice of redemption may contain a statement that the redemption is conditioned upon the receipt by the Trustee of funds on or before the date fixed for redemption sufficient to pay the redemption price of the Certificates so called for redemption, and that if such funds are not available, such redemption shall be canceled by written notice to the owners of the Certificates called for redemption in the same manner as the original redemption notice was given. Redemption Payments. On or prior to the Business Day preceding the date fixed for redemption, funds shall be deposited with the Trustee to pay the Certificates called for redemption, together with accrued interest thereon to the redemption date, and any required premium. Upon the giving of notice and the deposit of such funds as may be available for redemption pursuant to this Indenture (which, in certain cases as set forth above may be less than the full principal amount of the Outstanding Certificates and accrued interest thereon to the redemption date), interest on the Certificates or portions thereof thus called shall no longer accrue after the date fixed for redemption. Payments in full redemption shall be accompanied by a written designation prepared by the Trustee stating the portions of the payment representing principal, interest, and premium, if any. 206 27 INVESTMENTS Investment of Moneys. The Trustee shall be entitled to assume that any investment, which at the time of purchase is a Permitted Investment, remains a Permitted Investment absent a receipt of written notice or information to the contrary. All moneys held as part of the Base Rentals Fund, Reserve Fund, the Rebate Fund, the Costs of Execution and Delivery Fund, or any other fund or account created hereunder (other than any defeasance escrow accounts) shall be deposited or invested and reinvested by the Trustee, at the written direction of the Town Representative, in Permitted Investments; provided, however, that the Trustee shall make no deposits or investments of any fund or account created hereunder which shall interfere with or prevent withdrawals for the purpose for which the moneys so deposited or invested were placed in trust hereunder or for payment of the Certificates at or before maturity or interest thereon as required hereunder. The Trustee may make any and all such deposits or investments through its own investment department or that of its affiliates or subsidiaries and may charge its ordinary and customary fees for such trades, including cash sweep account fees. Except as otherwise provided herein and Section 3.05 hereof, deposits or investments shall at all times be a part of the fund or account from which the moneys used to acquire such deposits or investments shall have come, and all income and profits on such deposits or investments shall be credited to, and losses thereon shall be charged against, such fund or account. Any interest or other gain from any fund or account created hereunder (except defeasance escrows) shall be deposited to the Rebate Fund to the extent required and permitted pursuant to Section 3.05 hereof. The Trustee shall sell and reduce to cash a sufficient amount of such deposits or investments whenever the cash balance in the Base Rentals Fund is insufficient to pay the principal of and interest on the Certificates when due, or whenever the cash balance in any fund or account created hereunder is insufficient to satisfy the purposes of such fund or account. The Trustee hereby agrees to secure and retain the documentation with respect to investments of moneys in the funds and accounts created under this Indenture as required by and as described in the Tax Certificate. The Trustee may rely upon the Town Representative’s written direction as to both the suitability and the legality of the directed investments, and shall have no liability or responsibility for any loss or for failure to maximize earnings resulting from any investment made in accordance with the provisions of this Article 5. The Trustee may transfer investments from any Fund or Account to any other Fund or Account in lieu of cash when a transfer is required or permitted by the provisions of this Indenture. If the Trustee is not provided written directions concerning investment of moneys held in the Funds, the Trustee shall invest in a money market fund that qualifies as a Permitted Investment available to the Trustee, provided such investment matures or are subject to redemption prior to the date such funds will be needed. Unless otherwise confirmed or directed in writing, an account statement delivered periodically by the Trustee to the Town shall confirm that the investment transactions identified therein accurately reflect the investment directions of the Town Representative, unless the Town Representative notifies the Trustee in writing to the contrary within thirty (30) days of the date of delivery of such statement. 207 28 The Trustee may purchase or invest in shares of any investment company provided that such investments are Permitted Investments at the time of such investment and that such investments: (i)is registered under the Investment Company Act of 1940, as amended (including both corporations and Massachusetts business trusts, and including companies for which the Trustee may provide advisory, administrative, custodial or other services for compensation); (ii)invests substantially all of its assets in short term high quality money market instruments, limited to obligations issued or guaranteed by the United States, or repurchase agreements backed by such obligations; and (iii)maintains a constant asset value per share. The Trustee is specifically authorized to implement its automated cash investments system to assure that cash on hand is invested and to charge reasonable cash management fees, which may be deducted from income earned on investments. Method of Valuation and Frequency of Valuation. In computing the amount in any fund or account (except defeasance escrows), Permitted Investments shall be valued at the market price, exclusive of accrued interest. With respect to all funds and accounts (except defeasance escrows, and except as otherwise provided in the Tax Certificate with respect to the Rebate Fund), valuation shall occur as of December 31 of each year. The Reserve Fund, to the extent it is cash-funded, shall also be valued as of December 31 of each year, except in the event of a withdrawal from the Reserve Fund, whereupon it shall be valued immediately after such withdrawal. The Trustee shall calculate the value of investments on deposit in the Reserve Fund and the Town, at the written request of the Trustee, shall calculate the value of investments in all other funds and accounts held pursuant to this Indenture. 208 29 DEFEASANCE AND DISCHARGE Defeasance and Discharge. (a)When the principal or redemption price (as the case may be) of, and interest on, all the Certificates executed and delivered hereunder have been paid or provision has been made for payment of the same (or, in the case of redemption of the Certificates pursuant to Section 4.03 of this Indenture, if full or partial payment of the Certificates and interest thereon is made as provided in Section 4.03 of this Indenture), together with all other sums payable hereunder relating to the Certificates (including the fees and expenses of the Trustee), then the right, title and interest of the Trustee in and to the Trust Estate and all covenants, agreements and other obligations of the Town to the Trustee and to the Owners shall thereupon cease, terminate and become void and be discharged and satisfied. In such event, the Town shall prepare and the Trustee shall (1)release the Site Lease and transfer and convey the Trustee’s leasehold interest in the Leased Property to the Town as provided by Article 11 of the Lease, (2)release the Lease and this Indenture, (3)execute such documents to evidence such releases as may be reasonably required by the Town, and (4)turn over to the Town all balances then held by the Trustee in the Funds hereunder except for amounts held in any defeasance escrow accounts. If payment or provision therefor is made with respect to less than all of the Certificates, the particular Certificates (or portion thereof) for which provision for payment shall have been considered made shall be selected by the Town. (b)Provision for the payment of all or a portion of the Certificates shall be deemed to have been made when the Trustee holds in the Base Rentals Fund, or there is on deposit in a separate escrow account or trust account held by a trust bank or escrow agent, either moneys in an amount which shall be sufficient, and/or Federal Securities, the principal of and the interest on which when due, and without any reinvestment thereof, will provide moneys which, together with the moneys, if any, concurrently deposited in trust, shall be sufficient to pay when due the principal of, premium, if any, and interest due and to become due on said Certificates on and prior to the redemption date or maturity date thereof, as the case may be. Prior to any discharge of this Indenture pursuant to this Section or the defeasance of any Certificates pursuant to this Section becoming effective, there shall have been addressed and delivered to the Trustee a report of an independent firm of nationally recognized certified public accountants verifying the sufficiency of the escrow established to pay the applicable Certificates in full on the maturity or redemption date thereof unless fully funded with cash. (c)Neither the Federal Securities nor the moneys deposited in the Base Rentals Fund or separate escrow account or trust account pursuant to this Section shall be withdrawn or used for any purpose other than, and shall be segregated and held in trust for, the payment of the principal of, premium, if any, and interest on the Certificates or portions thereof; provided, however, that other Federal Securities and moneys may be substituted for the Federal Securities and moneys so deposited prior to their use for such purpose. 209 30 (d)Whenever moneys or Federal Securities shall be deposited with the Trustee or a separate escrow agent for the payment or redemption of any Certificates more than forty-five (45) days prior to the date that such Certificates are to mature or be redeemed, the Trustee shall provide a notice by electronic or other means stating that such moneys or Federal Securities have been deposited and identifying the Certificates for the payment of which such moneys or Federal Securities are being held, to all Owners of Certificates for the payment of which such moneys or Federal Securities are being held, or if such Certificates are registered in the name of the Depository, such notice may be sent, in the alternative, by electronic means in accordance with the regulations of the Depository. (e)At such time as any Certificate shall be deemed paid as provided in (b) above, such Certificate shall no longer be secured by or entitled to the benefits of this Indenture, the Lease or the Site Lease, except for the purpose of exchange and transfer and any payment from such cash or Federal Securities deposited with the Trustee. 210 31 EVENTS OF INDENTURE DEFAULT AND REMEDIES Events of Indenture Default Defined. Each of the following shall be an Event of Indenture Default: (a)Failure to pay the principal of or premium, if any, on any Certificate when the same shall become due and payable, whether at the stated maturity thereof or upon proceedings for redemption; (b)Failure to pay any installment of interest on any Certificate when the same shall become due and payable; (c)The occurrence of an Event of Nonappropriation; or (d)The occurrence of an Event of Lease Default. Upon the occurrence of any Event of Indenture Default of which the Trustee is required to take notice or receive notice pursuant to Section 8.05, the Trustee shall give notice thereof to the Owners of the Certificates, unless such Event of Indenture Default has been cured or waived. The Trustee shall waive any Event of Nonappropriation which is cured by the Town within thirty (30) days of the receipt of notice by the Trustee as provided by Section 6.4(b) of the Lease, by a duly effected Appropriation to pay all Base Rentals and sufficient amounts to pay reasonably estimated Additional Rentals coming due for such Renewal Term. The Trustee may waive any Event of Nonappropriation which is cured by the Town within a reasonable time with the procedure described in the preceding sentence. Remedies. If any Event of Indenture Default occurs and is continuing, the Trustee may, or shall at the request of the Owners of a majority in aggregate principal amount of the Certificates then Outstanding and upon indemnification as provided in Section 8.01(d)hereof, without any further demand or notice, enforce for the benefit of the Owners of the Certificates each and every right of the Trustee as the lessee under the Site Lease and the lessor under the Lease. In exercising such rights of the Trustee and the rights given the Trustee under this Article 7 and Article 8, the Trustee may, or shall at the request of the Owners of a majority in aggregate principal amount of the Certificates then Outstanding and upon indemnification as provided in Section 8.01(d)hereof, take such action as, in the judgment of the Trustee, upon advice of its counsel, would best serve the interests of the Owners of the Certificates, including calling the Certificates for redemption prior to their maturity in the manner and subject to the provisions of Article 4 hereof and exercising the Lease Remedies provided in the Lease, provided however that such action shall not include consequential or punitive damages against the Town. Legal Proceedings by Trustee. If any Event of Indenture Default has occurred and is continuing, the Trustee in its discretion may, and upon the written request of the Owners of a majority in aggregate principal amount of all Outstanding Certificates and receipt of indemnity to its satisfaction, shall, in its capacity as Trustee hereunder: (a)By mandamus, or other suit, action or proceeding at law or in equity, enforce all rights of the Owners of the Certificates, including enforcing any rights of the 211 32 Trustee in respect of the Trustee’s leasehold interests in the Leased Property including its rights as lessor under the Lease and as lessee under the Site Lease and its rights under this Indenture and to enforce the provisions of this Indenture and any collateral rights hereunder for the benefit of the Owners of the Certificates; or (b)By action or suit in equity enjoin any acts or things which may be unlawful or in violation of the rights of the Owners of the Certificates; or (c)Take any other action at law or in equity that may appear necessary or desirable to enforce the rights of the Owners of the Certificates. Discontinuance of Proceedings by Trustee. If any proceeding commenced by the Trustee on account of any Event of Indenture Default is discontinued or is determined adversely to the Trustee, then the Owners of the Certificates shall be restored to their former positions and rights hereunder as though no such proceeding had been commenced. Owners of Certificates May Direct Proceedings. The Owners of a majority in aggregate principal amount of Outstanding Certificates shall have the right, after furnishing indemnity satisfactory to the Trustee, to direct the method and place of conducting all remedial proceedings by the Trustee hereunder, provided that such direction shall not be in conflict with any rule of law or with this Indenture or unduly prejudice the rights of minority Owners of the Certificates. Limitations on Actions by Owners of Certificates. No Owner of the Certificates shall have any right to pursue any remedy hereunder unless: (a)The Trustee shall have been given written notice of a default pursuant to Section 8.05, and such default becomes an Event of Indenture Default; (b)The Owners of at least a majority in aggregate principal amount of all Outstanding Certificates shall have requested the Trustee, in writing, to exercise the powers hereinabove granted to or pursue such remedy in its or their name or names; (c)The Trustee shall have been offered indemnity satisfactory to it as provided in Section 8.01(d)hereof; and (d)The Trustee shall have failed to comply with such request within a reasonable time. Notwithstanding the foregoing provisions of this Section or any other provision of this Indenture, the obligation of the Trustee shall be absolute and unconditional to pay hereunder, but solely from the Revenues pledged under this Indenture, the principal of, premium, if any, and interest on the Certificates to the respective Owners thereof on the respective due dates thereof, and nothing herein shall affect or impair the right of action, which is absolute and unconditional, of such Owners to enforce such payment. Trustee May Enforce Rights Without Possession of Certificates. All rights under this Indenture and the Certificates may be enforced by the Trustee without the 212 33 possession of any Certificates or the production thereof at the trial or other proceedings relative thereto, and any proceeding instituted by the Trustee shall be brought in its name for the ratable benefit of the Owners of the Certificates. Remedies Not Exclusive. Subject to any express limitations contained herein, no remedy herein conferred is intended to be exclusive of any other remedy or remedies, and each remedy is in addition to every other remedy given hereunder or now or hereafter existing at law or in equity or by statute. Delays and Omissions Not to Impair Rights. No delays or omissions in respect of exercising any right or power accruing upon any default shall impair such right or power or be a waiver of such default, and every remedy given by this Article 7 may be exercised from time to time and as often as may be deemed expedient. Application of Moneys in Event of Indenture Default. Any moneys received, collected or held by the Trustee following an Indenture Event of Default and any other moneys held as part of the Trust Estate (except for moneys held in the Rebate Fund or any defeasance escrow account) shall be applied in the following order: (a)To the payment of the reasonable costs of the Trustee, including, but not limited to, its Counsel fees and expenses, and disbursements of the Trustee, and expenses of the proceedings resulting in the collection of such moneys and of all fees, costs, expenses, liabilities and advances incurred or made by the Trustee, and the payment of its reasonable compensation and any advances, including any amounts remaining unpaid; (b)To the payment of interest then owing on the Certificates, and in case such moneys shall be insufficient to pay the same in full, then to the payment of interest ratably, without preference or priority of one Certificate over another or of any installment of interest over any other installment of interest; and (c)To the payment of principal or redemption price (as the case may be) then owing on the Outstanding Certificates, and in case such moneys shall be insufficient to pay the same in full, then to the payment of principal or redemption price ratably, without preference or priority of one Certificate over another. The surplus, if any, shall be paid to the Town. 213 34 CONCERNING THE TRUSTEE Duties of the Trustee. (a)The Trustee hereby accepts the provisions of the Site Lease, the Lease and this Indenture and accepts the trusts imposed upon it by this Indenture and agrees to perform said trusts, but only upon and subject to the express terms and conditions set forth in the Site Lease, the Lease and this Indenture, and no implied covenants or obligations shall be read into this Indenture against the Trustee. (b)The Trustee hereby covenants for the benefit of the Owners of the Certificates that the Trustee will observe and comply with its obligations under the Site Lease, the Lease and this Indenture. (c)The Trustee shall at all times, to the extent permitted by law, defend, preserve and protect its interest in the Leased Property and the other property or property rights included in the Trust Estate and all the rights of the Owners under this Indenture against all claims and demands of all persons whomsoever. (d)The Trustee, prior to the occurrence of an Event of Indenture Default which may have occurred, undertakes to perform such duties and only such duties as are specifically set forth in the Lease and in this Indenture. If an Event of Indenture Default has occurred (which has not been cured or waived), the Trustee shall exercise such of the rights and power vested in it by the Lease, Site Lease,and this Indenture and use the same degree of care and skill in their exercise as a prudent person would exercise or use under the circumstances in conducting such person’s affairs in exercising any rights or remedies or performing any of its duties hereunder. Before taking any action hereunder, or under the Site Lease or Lease, the Trustee may require that satisfactory indemnity be furnished to it by the Certificate Owners for the reimbursement of all fees, costs and expenses (including, without limitation, attorney’s fees and expenses) which it may incur and to protect it against all liability, including, but not limited to, any liability arising directly or indirectly under any federal, state or local statute, rule, law or resolution related to the protection of the environment or hazardous substances, except liability which is adjudicated to have resulted may result from its negligence or willful misconduct, by reason of any action so taken. Rights of Trustee; Limited Liability of Trustee; Trustee’s Use of Agents. (a)The Trustee shall be liable only for its own negligence or willful misconduct. However, the Trustee shall not be liable for any error of judgment made in good faith, provided the Trustee was not negligent in ascertaining the pertinent facts. The Trustee likewise shall not be liable for any action taken or omitted to be taken pursuant to this Indenture or the Lease that is carried out in compliance with applicable law. (b)The Trustee may exercise any powers under this Indenture and perform any duties required of it through attorneys, agents, receivers. officers or employees, and shall 214 35 be entitled to the advice or opinion of Counsel concerning all matters involving the Trustee’s duties hereunder, and may in all cases pay such reasonable compensation to all such attorneys, agents, receivers, and employees as may reasonably be employed in connection with the trusts hereof. The Trustee may rely and act upon the opinion or advice of Counsel engaged by the Trustee in the exercise of reasonable care without liability for any loss or damage resulting from any action or omission taken in good faith reliance upon that opinion or advice. The rights, privileges, protections, immunities and benefits given to the Trustee, including its right to be indemnified, are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder, each agent appointed hereunder and to each agent, custodian and other person employed by Trustee to act hereunder. (c)The permissive right of the Trustee to do things enumerated in this Indenture shall not be construed as a duty and the Trustee shall not be answerable for other than its negligence or willful misconduct, and shall not be answerable for any negligent act of its attorneys, agents or receivers which have been selected by the Trustee with due care. (d)The Trustee shall not be personally liable for any debts contracted or for damages to persons or to personal property injured or damaged, or for salaries or nonfulfillment of contracts during any period in which it may be in possession of or managing the Leased Property. (e)The Trustee shall not be liable for actions taken at the direction of Owners. (f)Any person hired by the Trustee to enforce Lease Remedies shall be considered the Trustee’s agent for the purposes of this Section. (g)The Trustee shall not be responsible for any recital herein or in the Certificates (except in respect to the execution of the Certificates on behalf of the Trustee), or for the recording or rerecording, filing or refiling of the Site Lease, the Lease or this Indenture or of any supplements thereto or hereto or any financing statement (other than continuation statements) in connection therewith, or for insuring the Leased Property or Development, for collecting any insurance moneys, or for the sufficiency of the security for the Certificates issued hereunder or intended to be secured hereby, or for the value of or title to the Leased Property, and the Trustee shall not be bound to ascertain or inquire as to the performance or observance of any covenants, conditions or agreements on the part of the Town, except as provided herein; but the Trustee may require of the Town full information and advice as to the performance of the covenants, conditions and agreements aforesaid. The Trustee shall have no obligation to perform any of the duties of the Town under the Site Lease or the Lease; and the Trustee shall not be responsible or liable for any loss suffered in connection with any investment of funds made by it in accordance with this Indenture. (h)The Trustee makes no representations as to the value or condition of the Trust Estate or any part thereof (except for funds and investments held by the Trustee), or the validity or sufficiency of this Indenture or of the Certificates. The Trustee shall not be accountable for the use of any Certificates executed and delivered hereunder. The Trustee 215 36 shall not be accountable for the use or application of any Certificates or the proceeds thereof or of any money paid to or upon the order of the Town under any provisions of this Indenture or the Lease. (i)As to the existence or nonexistence of any fact or as to the sufficiency or validity of any instrument, paper or proceeding, or whenever in the administration of this Indenture the Trustee shall deem it desirable that a matter be proved or established prior to taking, suffering or omitting any action hereunder, the Trustee shall be entitled to rely upon a certificate signed on behalf of the Town by the Town Representative or such other person as may be designated for such purpose by ordinance or resolution of the Council, as sufficient evidence of the facts therein contained, and before the occurrence of a default of which the Trustee has been notified as provided in Section 8.05 or of which by said subsection it is deemed to have been notified, the Trustee may rely upon a similar certificate to the effect that any particular dealing, transaction, or action is necessary or expedient, but may at its discretion secure such further evidence deemed necessary or advisable, but shall in no case be bound to secure the same. (j)All moneys received by the Trustee shall, until used or applied or invested as herein provided, be held in trust in the manner and for the purposes for which they were received but need not be segregated from other funds except to the extent required by this Indenture or law. The Trustee shall not be under any liability for interest on any moneys received hereunder except that the Trustee is responsible for investing moneys in funds held hereunder in compliance with the written investment direction of the Town Representative. (k)The Trustee shall not be required to give any bond or surety in respect of the execution of the said trusts and powers or otherwise in respect of the premises. (l)Notwithstanding anything in this Indenture contained, the Trustee shall have the right, but shall not be required, to demand in respect of the execution and delivery of any Certificates, the withdrawal of any cash, or any action whatsoever within the purview of this Indenture, any showings, certificates, opinions, appraisals or other information, or corporate action or evidence thereof, in addition to that by the terms hereof required, as a condition of such action by the Trustee deemed desirable for the purpose of establishing the right of the Town to the execution and delivery of any Certificates, or the taking of any other action by the Trustee. (m)Notwithstanding any other provision hereof, the Trustee shall not be required to advance any of its own funds in the performance of its obligations hereunder or any other documents related to this Indenture, but may if it has received assurances from the Owners of the Certificates or indemnity from the Owners of the Certificates satisfactory to it that it will be repaid. Under no circumstances shall the Trustee be liable in its individual capacity for the obligations evidenced by the Certificates. The Trustee shall not be required to give any bond or surety in respect to the execution of its trusts and powers hereunder. 216 37 (n)The Trustee shall have no responsibility with respect to any information, statement or recital in any offering memorandum or other disclosure material prepared or distributed with respect to the Certificates except to the extent that such statement was provided by the Trustee or describes the Trustee’s duties under this Indenture. (o)The Trustee is authorized and directed to enter into the Site Lease and the Lease, solely in its capacity as Trustee under this Indenture. (p)At any and all reasonable times the Trustee and its duly authorized agents, attorneys, experts, engineers, accountants and representatives shall have the right, but shall not be required, to inspect any and all books, papers and records of the Town pertaining to the Leased Property and the Certificates, and to take such memoranda from and in regard thereto as may be desired. (q)The Trustee may rely conclusively on any resolution, certificate (including any officer’s certificate), statement, instrument, opinion (including any opinion of counsel), notice, request, direction, consent, order, bond, debenture or other paper or document believed by it to be genuine and to have been signed or presented by the proper person. The Trustee need not investigate any fact or matter stated in the document. (p)In no event shall the Trustee be responsible or liable for special, indirect, consequential or punitive loss or damage of any kind whatsoever (including, but not limited to, loss of profit), irrespective of whether the Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. Representations and Covenants of Trustee. The Trustee represents, warrants and covenants as follows: (a)So long as no Event of Indenture Default has occurred and is then continuing or existing, except as specifically provided in the Site Lease or the Lease or as necessary to transfer the Trust Estate to a successor Trustee, the Trustee shall not pledge or assign the Trustee’s right, title and interest in and to (i)the Lease or the Site Lease, (ii)the Base Rentals, other Revenues and collateral, security interests and attendant rights and obligations which may be derived under the Lease or the Site Lease and/or (iii)the Leased Property and any reversion therein or any of the Trustee’s other rights under the Lease or the Site Lease or assign, pledge, mortgage, encumber or grant a security interest in the Trustee’s right, title and interest in, to and under the Lease or the Site Lease or the Leased Property except for Permitted Encumbrances. (b)To the Trustee’s knowledge, neither the execution and delivery of the Lease and the Site Lease or this Indenture by the Trustee, nor the fulfillment of or compliance with the terms and conditions thereof and hereof, nor the consummation of the transactions contemplated thereby or hereby conflicts with or results in a breach of the terms, conditions and provisions of any restriction or any agreement or instrument to which the Trustee is now a party or by which the Trustee is bound, or constitutes a default under any of the foregoing. 217 38 (c)To the Trustee’s knowledge, there is no litigation or proceeding pending against the Trustee affecting the right of the Trustee to execute the Lease and the Site Lease or to execute this Indenture, and perform its obligations thereunder or hereunder, except such litigation or proceeding as has been disclosed in writing to the Town on or prior to the date this Indenture is executed and delivered. (d)The Trustee covenants and agrees to comply with any applicable requirements for the Trustee set forth in the Tax Certificate as directed in writing by the Town. Compensation. During the Lease Term, the Trustee shall be entitled to payment and reimbursement for its reasonable fees and expenses for its ordinary services rendered hereunder (which compensation shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust) and all advances, agent and counsel fees and other ordinary expenses for its services rendered hereunder as and when the same become due and all expenses reasonably and necessarily made or incurred by the Trustee in connection with such ordinary services as and when the same become due, as provided in Section 6.2 of the Lease. Should it become necessary that the Trustee perform extraordinary services, it shall be entitled to reasonable extra compensation therefor and to reimbursement for reasonable extraordinary expenses in connection therewith; provided that if such extraordinary services or extraordinary costs and expenses are occasioned by negligence or willful misconduct of the Trustee, it shall not be entitled to compensation or reimbursement therefor. The rights of the Trustee to payments pursuant to this Section shall be superior to the rights of the Owners with respect to the Trust Estate. Notice of Default; Right to Investigate. If an Event of Indenture Default occurs of which the Trustee is deemed to have notice pursuant to this Section, the Trustee shall, within thirty (30) days after it receives notice thereof, give written notice by electronic means or first class mail to the Owners of the Certificates of all Events of Indenture Default known to the Trustee and send a copy of such notice to the Town, unless such defaults have been remedied. The Trustee shall not be required to take notice or be deemed to have notice of any default unless it has actual knowledge thereof or has been notified in writing of such default by the Town or the Owners of at least 25% in aggregate principal amount of the Outstanding Certificates. The Trustee may, however, at any time request the Town to provide full information as to the performance of any covenant under the Lease; and, if information satisfactory to it is not forthcoming, the Trustee may make or cause to be made an investigation into any matter related to the Site Lease, the Lease and the Leased Property. Obligation to Act on Defaults. If any Event of Indenture Default shall have occurred and be continuing of which the Trustee has actual knowledge or notice pursuant to Section 8.05, the Trustee shall exercise such of the rights and remedies vested in it by this Indenture and shall use the same degree of care in their exercise as a prudent person would exercise or use in the circumstances in the conduct of his or her own affairs; provided, that if in the opinion of the Trustee such action may tend to involve expense or liability, it shall not be obligated to take such action unless it is furnished with indemnity satisfactory to it for the reimbursement of all fees, costs and expenses (including, without limitation, attorney’s fees and expenses) to which it may be put and to protect it against all liability which may incur in or by reason of such action, except 218 39 liability which is adjudicated to have resulted from its negligence or willful misconduct by reason of any action so taken. Reliance on Requisition, etc. The Trustee may conclusively rely and shall be fully protected from acting or refraining from acting on any written requisition, resolution, notice, request, consent,waiver, certificate, statement, affidavit, voucher, bond, or other paper or electronic document which it in good faith believes to be genuine and to have been passed or signed by the proper persons or to have been prepared and furnished pursuant to any of the provisions of this Indenture; and the Trustee shall be under no duty to make any investigation as to any statement contained in any such instrument, but may accept the same as conclusive evidence of the accuracy of such statement. Any action taken by the Trustee pursuant to this Indenture upon the request or authority or consent of any person who at the time of making such request or giving such authority or consent is the Owner of any Certificate shall be conclusive and binding upon all future Owners of the same Certificate and upon any Certificates delivered in place thereof. The Trustee shall be entitled to rely upon opinions of Counsel and shall not be responsible for any loss or damage resulting from reliance in good faith thereon, except for its own negligence or willful misconduct. Trustee May Own Certificates. The Trustee may in good faith buy, sell, own and hold any of the Certificates and may join in any action which any Owner may be entitled to take with like effect as if the Trustee were not the party to this Indenture. The Trustee may also engage in or be interested in any financial or other transaction with the Town provided that if the Trustee determines that any such relation is in conflict with its duties under this Indenture, it shall eliminate the conflict or resign as Trustee. Construction of Ambiguous Provisions. The Trustee may construe any ambiguous or inconsistent provisions of this Indenture, and any such construction by the Trustee shall be binding upon the Owners. In construing any such provision, the Trustee will be entitled to rely upon opinions of Counsel and will not be responsible for any loss or damage resulting from reliance in good faith thereon, except for its own negligence or willful misconduct. Resignation of Trustee. The Trustee may resign and be discharged of the trusts created by this Indenture by written resignation filed with the Town not less than sixty (60) days before the date when it is to take effect; provided notice of such resignation is sent by electronic means or mailed by registered or certified mail to the Owner of each Outstanding Certificate at the address shown on the registration books. Such resignation shall take effect only upon the appointment of a successor Trustee. If no successor Trustee is appointed within sixty (60) days following the date designated for the resignation of the Trustee, the resigning Trustee may apply to a court of competent jurisdiction to appoint a successor Trustee. The rights of the Trustee to be held harmless, to insurance proceeds, or to other amounts due arising prior to the date of such resignation shall survive resignation. Removal of Trustee. Any Trustee hereunder may be removed at any time, after payment of all outstanding fees and expenses of the Trustee being so removed, by the Town or by the Owners of a majority in aggregate principal amount of the Certificates then Outstanding, upon written notice being filed with the Trustee, the Town and the Owner of each Outstanding 219 40 Certificate at the address shown on the registration books. Such removal shall take effect only upon the appointment of a successor Trustee. The rights of the Trustee to be held harmless, to insurance proceeds or to other amounts due arising prior to the date of such removal shall survive removal. Appointment of Successor Trustee. If the Trustee or any successor trustee resigns or is removed or dissolved, or if its property or business is taken under the control of any state or federal court or administrative body, a vacancy shall forthwith exist in the office of the Trustee, and the Town shall appoint a successor, and shall cause a notice of such appointment to be sent by Electronic Means or mailed by registered or certified mail to the Owners of all Outstanding Certificates at the address shown on the registration books. If the Town fails to make such appointment within thirty (30) days after the date notice of resignation is filed, the Owners of a majority in aggregate principal amount of the Certificates then Outstanding may do so. If the Owners have failed to make such appointment within thirty (30) days after the date notice of resignation is filed, the Trustee may petition a court of competent jurisdiction to make such appointment. Qualification of Successor. Any successor trustee shall be a national or state bank with trust powers or a bank and trust company or a trust company, in each case having capital and surplus of at least $50,000,000, if there be one able and willing to accept the trust on reasonable and customary terms. Instruments of Succession. Any successor trustee shall execute, acknowledge and deliver to the Town an instrument accepting such appointment under this Indenture; and thereupon such successor trustee, without any further act, deed or conveyance, shall become fully vested with all the estates, properties, rights, powers, trusts, duties and obligations of its predecessor in the trust under this Indenture, with like effect as if originally named Trustee herein and thereupon the duties and obligations of the predecessor shall cease and terminate. The Trustee ceasing to act under this Indenture shall, upon the payment of the fees and expenses owed to the predecessor Trustee, pay over to the successor trustee all moneys held by it under this Indenture; and, upon request of the successor trustee, the Trustee ceasing to act shall execute and deliver an instrument transferring to the successor trustee all the estates, properties, rights, powers and trusts under this Indenture of the Trustee ceasing to act. Merger of Trustee. Any corporation into which any Trustee hereunder may be merged or with which it may be consolidated, or any corporation resulting from any sale, merger or consolidation of its corporate trust business to which any Trustee hereunder shall be a party, shall be the successor trustee under this Indenture, without the execution or filing of any paper or any further act on the part of the parties hereto, anything herein to the contrary notwithstanding. Intervention by Trustee. In any judicial proceeding to which the Trustee or the Town is not a party and which, in the opinion of the Trustee and its Counsel, has a substantial bearing on the interests of Owners of the Certificates, the Trustee may intervene on behalf of the Owners and shall do so if requested in writing by the Owners of at least a majority in aggregate principal amount of Outstanding Certificates and upon being furnished satisfactory indemnity. 220 41 The rights and obligations of the Trustee under this Section are subject to the approval of a court of competent jurisdiction. Books and Records of the Trustee; Trustee Record Keeping. The Trustee shall keep such books and records relating to the Site Lease and the Lease and Funds and Accounts created under this Indenture as shall be consistent with industry practice and make such books and records available for inspection by the Town, at all reasonable times and for six years following the discharge of this Indenture according to Article 6 hereof. Environmental Matters. Any real property or interest in real property constituting any portion of the Trust Estate shall be subject to the following provisions: (a)The Trustee’s responsibilities for any interest in real property constituting any portion of the Trust Estate, prior to an Event of Indenture Default, shall be performed as Trustee on behalf of the Owners of the Certificates without any duty to monitor or investigate whether the real property constituting any portion of the Trust Estate complies with environmental laws or is subject to any Hazardous Substance. (b)Following an Event of Indenture Default, if the Trustee determines that the release, threatened release, use, generation, treatment, storage or disposal of any Hazardous Substance on, under or about real property constituting any portion of the Trust Estate gives rise to any liability or potential liability under any federal, State of Colorado, local or common law, or devalues or threatens to devalue such real property, the Trustee may, after being adequately indemnified pursuant to Section 8.01(d), take whatever action is deemed necessary by the Trustee to address the threatened or actual releases of Hazardous Substances, or to bring about or maintain such real property’s compliance with federal, State of Colorado, or local environmental laws and regulations. The Trustee has the right to take no action and, in such event no fiduciary duty exists which imposes any obligation for action with respect to the Trust Estate or any portion thereof if the Trustee determines to take no action for, including that any such action could adversely subject the Trustee to environmental or other liability for which the Trustee has not been adequately indemnified. 221 42 SUPPLEMENTAL INDENTURES AND AMENDMENTS OF THE LEASE AND SITE LEASE Supplemental Indentures and Amendments Not Requiring Certificate Owners’ Consent. The Trustee may, with the written consent of the Town, but without the consent of or notice to the Owners, enter into such indentures or agreements supplemental hereto, for any one or more or all of the following purposes: (a)To grant additional powers or rights to the Trustee; (b)To make any amendments necessary or desirable to obtain or maintain a rating from any Rating Agency rating the Certificates; (c)To authorize the execution and delivery of Additional Certificates for the purposes and under the conditions set forth in Section 2.08 hereof; (d)In order to preserve or protect the excludability from gross income for federal income tax purposes of the interest portion of the Base Rentals allocable to the Certificates; or (e)For any purpose not inconsistent with the terms of this Indenture or to cure any ambiguity, or to correct or supplement any provision contained herein which may be defective or inconsistent with any other provisions contained herein or to make such other amendments to this Indenture which do not materially adversely affect the interests of the Owners of the Certificates. Supplemental Indentures and Amendments Requiring Certificate Owners’ Consent. (a)Exclusive of supplemental indentures and amendments covered by Section 9.01 hereof, the written consent of the Town and the consent of the Owners of a majority in aggregate principal amount of the Certificates then Outstanding, shall be required for any indenture or indentures supplemental hereto. (b)Notwithstanding the foregoing, without the consent of the Owners of all of the Certificates at the time Outstanding, nothing herein contained shall permit, or be construed as permitting: (i)A change in the terms of redemption or maturity of the principal amount of or the interest on any Outstanding Certificate, or a reduction in the principal amount of or premium payable upon any redemption of any Outstanding Certificate or the rate of interest thereon, without the consent of the Owner of such Certificate; (ii)The deprivation of the Owner of any Certificate then Outstanding of the interest created by this Indenture (other than as originally permitted hereby) without the consent of the Owner of such Certificate; 222 43 (iii)A privilege or priority of any Certificate or Certificates over any other Certificate or Certificates (except with respect to the possible subordination of Additional Certificates); or (iv)A reduction in the aggregate principal amount of the Certificates required for consent to such supplemental indenture. If at any time the Town requests that the Trustee enter into a supplemental indenture which requires the consent of the Certificate Owners as provided herein, the Trustee shall, upon being satisfactorily indemnified with respect to expenses, cause notice of the proposed execution of such supplemental indenture to be given by electronic means or mailed to the Owners of the Certificates at the addresses last shown on the registration records of the Trustee. Such notice shall briefly set forth the nature of the proposed supplemental indenture and shall state that copies thereof are on file at the principal corporate trust office of the Trustee for inspection by all Certificate Owners. If, within 60 days or such longer period as shall be prescribed by the Town following the provision of such notice, the required consents have been furnished to the Trustee as herein provided, no Certificate Owner shall have any right to object to any of the terms and provisions contained therein, or the operation thereof, or in any manner to question the propriety of the execution thereof, or to enjoin or restrain the Trustee from executing the same or from taking any action pursuant to the provisions thereof. Amendment of the Lease and the Site Lease. (a)The Trustee and the Town shall have the right to amend the Lease and the Site Lease without the consent of or notice to the Owners of the Certificates, for one or more of the following purposes: (i)To add covenants of the Trustee or the Town or to grant additional powers or rights to the Trustee; (ii)To make any amendments necessary or desirable to obtain or maintain a rating from any Rating Agency of the Certificates; (iii)In order to more precisely identify the Leased Property,including any substitutions, additions or modifications to the Leased Property as the case may be, as may be authorized under the Site Lease and the Lease; (iv)To make additions to the Leased Property, amend the schedule of Base Rentals and make all other amendments necessary for the execution and delivery of Additional Certificates in accordance with Section 2.08 hereof; (v)In order to preserve or protect the excludability from gross income for federal income tax purposes of the interest portion of the Base Rentals allocable to the Certificates; or (vi)For any purpose not inconsistent with the terms of this Indenture or to cure any ambiguity or to correct or supplement any provision contained therein or in any amendment thereto which may be defective or inconsistent with any other 223 44 provision contained therein or herein or in any amendment thereto or to make such other amendments to the Lease or the Site Lease which do not materially adversely affect the interests of the Owners of the Certificates. (b)If Town proposes to amend the Lease or the Site Lease in such a way as would materially adversely affect the interests of the Owners of the Certificates, the Trustee shall notify the Owners of the Certificates of the proposed amendment and may consent thereto only with the consent of the Owners of a majority in aggregate principal amount of the Outstanding Certificates; provided, that the Trustee shall not, without the unanimous consent of the Owners of all Certificates Outstanding, consent to any amendment which would (1) decrease the amounts payable in respect of the Lease, or (2) change the Base Rentals Payment Dates or (3) change any of the prepayment provisions of the Lease. 224 45 MISCELLANEOUS Evidence of Signature of Owners and Ownership of Certificates. Any request, consent or other instrument which this Indenture may require or permit to be signed and executed by the Owners may be in one or more instruments of similar tenor, and shall be signed or executed by such Owners in person or by their attorneys appointed in writing. Proof of the execution of any such instrument or of an instrument appointing any such attorney, or the ownership of Certificates shall be sufficient (except as otherwise herein expressly provided) if made in the following manner, but the Trustee may, nevertheless, in its discretion require further or other proof in cases where it deems the same desirable: (a)The fact and date of the execution by any Owner or his attorney of such instrument may be proved by the certificate of any officer authorized to take acknowledgments in the jurisdiction in which he purports to act that the person signing such request or other instrument acknowledged to him the execution thereof, or by an affidavit of a witness of such execution, duly sworn to before a notary public. (b)The fact of the owning by any person of Certificates and the amounts and numbers of such Certificates, and the date of the owning of the same, may be proved by a certificate executed by any trust company, bank or bankers, wherever situated, stating that at the date thereof the party named therein did exhibit to an officer of such trust company or bank or to such bankers, as the property of such party, the Certificates therein mentioned, if such certificate shall be deemed by the Trustee to be satisfactory. The Trustee may, in its discretion, require evidence that such Certificates have been deposited with a bank, bankers or trust company before taking any action based on such ownership. In lieu of the foregoing the Trustee may accept other proofs of the foregoing as it shall deem appropriate. Any request or consent of the Owner of any Certificate shall be conclusive upon and shall bind all future owners of such Certificate and of any Certificate issued upon the transfer or exchange of such Certificate in respect of anything done or suffered to be done by the Town, the Trustee in accordance therewith, whether or not notation of such consent or request is made upon any such Certificate. Inspection of the Leased Property. Under the Lease, the Trustee and its duly authorized agents (a)have the right, but not the duty, on reasonable notice to the Town, at all reasonable times, to examine and inspect the Leased Property (subject to such regulations as may be imposed by the Town for security purposes) and (b)are permitted, but have no obligation, at all reasonable times, to examine the books, records, reports and other papers of the Town with respect to the Leased Property. Parties Interested Herein. Nothing in this Indenture expressed or implied is intended or shall be construed to confer upon, or to give to, any person other than the Town, the Trustee, and the Owners any right, remedy or claim under or by reason of this Indenture or any covenant, condition or stipulation of this Indenture; and all the covenants, stipulations, promises and agreements in this Indenture contained by and on behalf of the Trustee shall be for the sole and exclusive benefit of the Town, the Trustee, and the Owners. 225 46 Titles, Headings, Etc. The titles and headings of the articles, sections and subdivisions of this Indenture have been inserted for convenience of reference only and shall in no way modify or restrict any of the terms or provisions of this Indenture. Severability. In the event any provision of this Indenture shall be held invalid or unenforceable by any court of competent jurisdiction, such holding shall not invalidate or render unenforceable any other provision of this Indenture. Governing Law. This Indenture shall be governed and construed in accordance with the laws of the State of Colorado without regard to choice of law analysis. Execution in Counterparts. This Indenture may be executed in several counterparts, each of which shall be an original and all of which shall constitute but one and the same instrument. Notices. All notices, certificates or other communications to be given hereunder shall be sufficiently given and shall be deemed given when delivered or mailed by certified or registered mail, postage prepaid, addressed as follows: If to the Trustee: U.S. Bank Trust Company, National Association 950 17th Street Denver, Colorado 80202 Attention: Global Corporate Trust Email: kathleen.connelly@usbank.com Phone:303-585-4591 If to the Town: Town of Vail, Colorado 75 S. Frontage Road Vail, CO 81657 Attention: Carlie Smith, Finance Director Email: csmith@vailgov.com Phone: 970-479-2119 The Trustee may, by written notice, designate any further or different addresses to which subsequent notices, certificates or other communications shall be sent. Successors and Assigns. All the covenants, promises and agreements in this Indenture contained by or on behalf of the Trustee shall bind and inure to the benefit of its successors and assigns, whether so expressed or not. Payments Due on Saturdays, Sundays and Holidays. If the date for making any payment or the last day for performance of any act or the exercising of any right, as provided in this Indenture, shall be a day other than a Business Day such payment may be made 226 47 or act performed or right exercised on the next succeeding Business Day with the same force and effect as if done on the nominal date provided in this Indenture. Undertaking to Provide Ongoing Disclosure. The Town has covenanted in Section 11.6 of the Lease to comply with the terms of the Continuing Disclosure Certificate. Notwithstanding any other provision of this Indenture, failure by the Town to comply with the Continuing Disclosure Certificate shall not be considered an Event of Indenture Default and the rights and remedies provided by this Indenture upon the occurrence of an Event of Indenture Default shall not apply to any such failure. The Trustee shall have no power or duty to enforce the obligations of the Town under the Continuing Disclosure Certificate. Electronic Storage and Execution. The parties hereto agree that the transaction described herein may be conducted and related documents may be stored by electronic means. Copies, telecopies, facsimiles, electronic files and other reproductions of original executed documents shall be deemed to be authentic and valid counterparts of such original documents for all purposes, including the filing of any claim, action or suit in the appropriate court of law. Without limiting the foregoing, the parties agree that any individual or individuals who are authorized to execute or consent to this Indenture on behalf of the Town, the Trustee or any Owner are hereby authorized to execute this the same electronically via facsimile or email signature. This agreement by the parties to use electronic signatures is made pursuant to Article 71.3 of Title 24, C.R.S., also known as the Uniform Electronic Transactions Act. Any electronic signature so affixed to this Indenture or any supplement or consent relating thereto shall carry the full legal force and effect of any original, handwritten signature. 227 48 IN WITNESS WHEREOF, the Trustee has caused this Indenture to be executed all as of the date first above written. U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, AS TRUSTEE By: Vice President 228 A-1 EXHIBIT A FORM OF CERTIFICATE Unless this certificate is presented by an authorized representative of The Depository Trust Company, a New York Authority (“DTC”), to the Trustee for registration of transfer, exchange, or payment, and any certificate issued is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC (and any payment is made to Cede & Co. or to such other entity as is requested by an authorized representative of DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has an interest herein. CERTIFICATE OF PARTICIPATION, SERIES 2025 Evidencing a Proportionate Interest in the Base Rentals and other Revenues under an Annually Renewable Lease Purchase Agreement, dated [_______], 2025, between U.S. Bank Trust Company, National Association, solely in its capacity as trustee under the Indenture, as lessor, and the Town of Vail, Colorado, as lessee No. R-_$__________ Interest Rate Maturity Date Dated Date CUSIP Number _____%[December 1, 20__][_______], 2025 REGISTERED OWNER:CEDE & CO. PRINCIPAL AMOUNT:DOLLARS THIS CERTIFIES THAT the Registered Owner (specified above), or registered assigns, as the Registered Owner (the “Owner”) of this Certificate of Participation, Series 2025 (this “Certificate”), is the Owner of a proportionate interest in the right to receive certain designated Revenues, including Base Rentals, under and as defined in the Lease Purchase Agreement (the “Lease”) dated as of [_______], 2025, between U.S. Bank Trust Company, National Association,, Denver, Colorado, as Trustee (the “Trustee”), as lessor, and the Town of Vail, Colorado (the “Town”), as lessee. This Certificate is secured as provided in the Lease and the Indenture of Trust (the “Indenture”) dated as of [_______], 2025, by the Trustee, for the registered owners of the Certificates of Participation, Series 2025 (the “Certificates”). All terms capitalized but not defined herein shall have the meanings given to them in the Indenture. This Certificate bears interest, matures, is payable, is subject to redemption, and is transferable as provided in the Indenture. 229 A-2 Under the Site Lease, certain Leased Property described therein (the “Leased Property”) has been leased by the Town, as lessor, to the Trustee, as lessee. Under the Lease, the Leased Property has been leased back by the Trustee, as lessor, to the Town, as lessee, and the Town has agreed to pay directly to the Trustee Base Rentals in consideration of the Town’s right to possess and use the Leased Property. Certain Revenues, including Base Rentals, are required under the Indenture to be distributed by the Trustee for the payment of the Certificates and interest thereon. The Lease is subject to annual appropriation, non-renewal and, in turn, termination by the Town. This Certificate has been executed and delivered pursuant to the terms of the Indenture. Reference is hereby made to the Site Lease, the Lease and the Indenture (copies of which are on file in the offices of the Trustee) for a description of the terms on which the Certificates are delivered, and the rights thereunder of the Owners of the Certificates, the rights, duties and immunities of the Trustee and the rights and obligations of the Town under the Site Lease and the Lease, to all of the provisions of which Site Lease, Lease and Indenture the Owner of this Certificate, by acceptance hereof, assents and agrees. Additional Certificates may be executed and delivered pursuant to the Indenture without consent of or notice to the owners of the Certificates and upon the satisfaction of certain conditions and limitations. Such Additional Certificates, together with the Certificates, are referred to herein as the “Certificates.” Additional Certificates will evidence interests in rights to receive Revenues, including Base Rentals, without preference, priority or distinction of any Certificates, including the Certificates, over any others, however, insurance and other credit facilities may be applicable only to particular series of Certificates or portions thereof. To the extent and in the manner permitted by the terms of the Indenture, the provisions of the Indenture may be amended by the Trustee with the written consent of the Owners of a majority in aggregate principal amount of the Certificates outstanding, and may be amended without such consent under certain circumstances described in the Indenture but in no event such that the interests of the Owners of the Certificates are materially adversely affected, provided that no such amendment is to impair the right of any Owner to receive in any case such Owner’s proportionate share of any payment of Revenues in accordance with the terms of such Owner’s Certificate. THE OWNER OF THIS CERTIFICATE IS ENTITLED TO RECEIVE, SUBJECT TO THE TERMS OF THE LEASE, THE PRINCIPAL AMOUNT (SPECIFIED ABOVE), ON THE MATURITY DATE (SPECIFIED ABOVE), AND IS ENTITLED TO RECEIVE INTEREST ON THE PRINCIPAL AMOUNT AT THE INTEREST RATE (SPECIFIED ABOVE). The interest hereon is payable at the interest rate from the Dated Date (specified above) on June 1, 20[__], and semiannually thereafter on June 1 and December 1 in each year (the “Interest Payment Dates”) and thereafter. Interest is to be calculated on the basis of a 360-day year consisting of twelve 30- day months. THIS CERTIFICATE IS PAYABLE SOLELY FROM THE BASE RENTALS PAYABLE TO THE TRUSTEE PURSUANT TO THE LEASE AND OTHER REVENUES AS DEFINED IN THE INDENTURE. NEITHER THE LEASE, THIS CERTIFICATE, OR THE OBLIGATION OF THE TOWN TO PAY BASE RENTALS OR ADDITIONAL RENTALS CONSTITUTES A GENERAL OBLIGATION OR OTHER INDEBTEDNESS OF THE TOWN OR A MULTIPLE FISCAL YEAR DIRECT OR INDIRECT DEBT OR OTHER FINANCIAL OBLIGATION WHATSOEVER OF THE TOWN, WITHIN THE MEANING OF ANY CONSTITUTIONAL, HOME RULE CHARTER OR 230 A-3 STATUTORY DEBT LIMITATION. NEITHER THE LEASE NOR THE CERTIFICATES HAVE DIRECTLY OR INDIRECTLY OBLIGATED THE TOWN TO MAKE ANY PAYMENTS BEYOND THOSE APPROPRIATED FOR THE TOWN’S THEN CURRENT FISCAL YEAR. As long as Cede & Co., as the nominee for The Depository Trust Company, New York, New York (“DTC”) is the Owner hereof, the Principal Amount or redemption price hereof and interest hereon are payable by wire transfer as directed by DTC in writing to the Trustee. If not executed and delivered in book-entry form, the Principal Amount or redemption price hereof and interest hereon are payable by check or draft mailed to the Owner at its address last appearing on the registration books maintained by the Trustee or, in the case of Owners of $1,000,000 or more in aggregate principal amount of the Certificates, by wire transfer of funds to a bank account located in the United States designated by the Owner in written instructions furnished to the Trustee. Interest hereon is payable to the Owner, as shown on the registration books kept by the Trustee as of the close of business on the “regular record date,” which is the 15th day of the calendar month immediately preceding the month of the Interest Payment Date (whether or not a Business Day) or on a “special record date” established in accordance with the Indenture. The Trustee may treat the Owner of this Certificate appearing on the registration books maintained by the Trustee as the absolute owner hereof for all purposes and is not to be affected by any notice to the contrary. The Principal Amount or redemption price hereof and interest hereon are payable in lawful money of the United States of America. This Certificate is transferable by the Owner hereof, in person or by his attorney duly authorized in writing, on the registration books kept at the corporate trust office of the Trustee. Upon such transfer, a new fully registered Certificate of the same maturity, of authorized denomination or denominations, for the same aggregate principal amount, will be executed and delivered to the transferee in exchange for this Certificate, all upon payment of the charges and subject to the terms and conditions set forth in the Indenture. The Trustee may deem and treat the person in whose name this Certificate is registered as the absolute owner hereof, whether or not this Certificate shall be overdue, for the purpose of receiving payment and for all other purposes, and neither the Town nor the Trustee shall be affected by any notice to the contrary. Optional Redemption. The Certificates maturing on or prior to December 1, 20[__], shall not be subject to optional redemption prior to their respective maturity dates. The Certificates maturing on and after December 1, 20[__], shall be subject to redemption prior to their respective maturity dates at the option of the Town, in whole or in part, in integral multiples of $5,000, and if in part in such order of maturities as the Town determines and by lot within a maturity, on December 1, 20[__], and on any date thereafter, at a redemption price equal to the principal amount of the Certificates so redeemed plus accrued interest to the redemption date without a premium. Mandatory Sinking Fund Redemption. The Certificates maturing on December 1, 20[__], (the “Term Certificates”) are subject to mandatory sinking fund redemption as follows: The following principal amounts of the Certificates maturing December 1, 20[__], are subject to mandatory sinking fund redemption (after credit as provided below) on December 1 of the following years: 231 A-4 Redemption Date (December 1) Principal Amount _________________ *Final Maturity Extraordinary Mandatory Redemption. If the Lease is terminated by reason of the occurrence of (a) an Event of Nonappropriation, or (b) an Event of Lease Default, or (c) the Trustee, at the direction of the Town, fails to repair or replace the Leased Property if: (1) the Leased Property is damaged or destroyed in whole or in part by fire or other casualty; (2) title to, or the temporary or permanent use of, the Leased Property, or any portion thereof, has been taken by eminent domain by any governmental body; (3) breach of warranty or any material defect with respect to the Leased Property becomes apparent; or (4) title to or the use of all or any portion of the Leased Property is lost by reason of a defect in title thereto, and the Net Proceeds (as defined in the Lease) of any insurance, performance bond or condemnation award, or Net Proceeds received as a consequence of defaults under contracts relating to the Leased Property, made available by reason of such occurrences, are insufficient to pay in full, the cost of repairing or replacing the Leased Property and the Town does not appropriate sufficient funds for such purpose or cause the Lease to be amended in order that Additional Certificates may be executed and delivered pursuant to the Indenture for such purpose, the Certificates are required to be called for redemption. If called for redemption, as described herein, the Certificates are to be redeemed in whole on such date or dates as the Trustee may determine, for a redemption price equal to the principal amount thereof, plus accrued interest to the redemption date (subject to the availability of funds as described below). If the Net Proceeds, including the Net Proceeds from the exercise of any Lease Remedy under the Lease, otherwise received and other moneys then available under the Indenture are insufficient to pay in full the principal of and accrued interest on all Outstanding Certificates, the Trustee may, or at the request of the Owners of a majority in aggregate principal amount of the Certificates Outstanding, and upon indemnification as to costs and expenses as provided in the Indenture, without any further demand or notice, is to exercise all or any combination of Lease Remedies as provided in the Lease and the Certificates are to be redeemed by the Trustee from the Net Proceeds resulting from the exercise of such Lease Remedies and all other moneys, if any, then on hand and being held by the Trustee for the Owners of the Certificates. If the Net Proceeds resulting from the exercise of such Lease Remedies and other moneys are insufficient to redeem the Certificates at 100% of the principal amount thereof plus interest accrued to the redemption date, then such Net Proceeds resulting from the exercise of such Lease Remedies and other moneys are to be allocated proportionately among the Certificates, according to the principal amount thereof Outstanding. In the event that such Net Proceeds resulting from the exercise of such Lease Remedies and other moneys are in excess of the amount required to redeem the Certificates at 100% of the principal amount thereof plus interest accrued to the redemption date, then such excess moneys are to be paid to the Town as an overpayment of the 232 A-5 Purchase Option Price in respect of the Leased Property. Prior to any distribution of the Net Proceeds resulting from the exercise of any of such remedies, the Trustee is entitled to payment of its reasonable and customary fees for all services rendered in connection with such disposition, as well as reimbursement for all reasonable costs and expenses, including attorneys’ fees, incurred thereby, from proceeds resulting from the exercise of such Lease Remedies and other moneys. IF THE CERTIFICATES ARE REDEEMED FOR AN AMOUNT LESS THAN THE AGGREGATE PRINCIPAL AMOUNT THEREOF PLUS INTEREST ACCRUED TO THE REDEMPTION DATE, SUCH PARTIAL PAYMENT IS DEEMED TO CONSTITUTE A REDEMPTION IN FULL OF THE CERTIFICATES, AND UPON SUCH A PARTIAL PAYMENT NO OWNER OF SUCH CERTIFICATES, SHALL HAVE ANY FURTHER CLAIM FOR PAYMENT AGAINST THE TRUSTEE OR THE TOWN. Partial Redemption. If less than all of the Certificates are to be redeemed, the Certificates are to be redeemed only in integral multiples of $5,000. The Trustee is to treat any Certificates of denomination greater than $5,000 as representing that number of separate Certificates each of the denomination of $5,000 as can be obtained by dividing the actual principal amount of such Certificates by $5,000. Upon surrender of any Certificate for redemption in part, the Trustee is to execute and deliver to the Owner thereof, at no expense of the Owner, a new Certificate or Certificates of authorized denominations in an aggregate principal amount equal to the unredeemed portion of the Certificates so surrendered. Notice of Redemption. Whenever Certificates are to be redeemed, the Trustee is required to, after receiving instruction from the Town pursuant to the Indenture, not less than thirty (30) and not more than sixty (60) days prior to the redemption date (except for Extraordinary Mandatory Redemption notice which is required to be immediate), give notice of redemption to all Owners of all Certificates to be redeemed at their registered addresses, by electronic means or by first class mail, postage prepaid, or in the event that the Certificates to be redeemed are registered in the name of the Depository, such notice may, in the alternative, be given by electronic means in accordance with the requirements of the Depository. Any notice of redemption is to (1) be given in the name of the Trustee, (2) identify the Certificates to be redeemed, (3) specify the redemption date and the redemption price, (4) in the event of Optional Redemption, state that the Town has given notice of its intent to exercise its option to purchase or prepay Base Rentals under the Lease, (5) state that such redemption is subject to the deposit of the funds related to such option by the Town on or before the stated redemption date and (6) state that on the redemption date the Certificates called for redemption will be payable at the corporate trust office of the Trustee and that from that date interest will cease to accrue. The Trustee may use “CUSIP” numbers in notices of redemption as a convenience to Certificates Owners, provided that any such notice is required to state that no representation is made as to the correctness of such numbers either as printed on the Certificates or as contained in any notice of redemption and that reliance may be placed only on the identification numbers containing the prefix established under the Indenture. This Certificate is executed and delivered under the authority of Part 2 of Article 57, Title 11, C.R.S. (the “Supplemental Act”). Pursuant to C.R.S. § 11-57-210, such recital shall be conclusive evidence of the validity and the regularity of the issuance of this Certificate after its delivery for value. 233 A-6 This Certificate is executed with the intent that the laws of the State of Colorado shall govern its legality, validity, enforceability and construction. The Town has determined that this Certificate is authorized and issued under the authority of and in full conformity with the Constitution of the State of Colorado and all other laws of the State of Colorado thereunto enabling. This Certificate shall not be valid or become obligatory for any purpose or be entitled to any security or benefit under the Lease or the Indenture, until executed by the Trustee. The Trustee has executed this Certificate solely in its capacity as Trustee under the Indenture and not in its individual or personal capacity. The Trustee is not liable for the obligations evidenced by the Certificates except from amounts held by it in its capacity as Trustee under the Indenture. IT IS HEREBY CERTIFIED, RECITED AND DECLARED that all things, conditions and acts required by the Constitution and the statutes of the State of Colorado and the Indenture to exist, to have happened and to have been performed precedent to and the execution and delivery of this Certificate, do exist, have happened and have been performed in due time, form and manner, as required by law. 234 A-7 IN WITNESS WHEREOF, this Certificate has been executed with the manual signature of an authorized representative of the Trustee. Execution Date: [_______], 2025 U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, as Trustee By: Vice President 235 A-8 (Form of Assignment) ASSIGNMENT FOR VALUE RECEIVED the undersigned hereby sells, assigns and transfers unto __________ __________________________________ the within Certificate and hereby irrevocably constitutes and appoints __________________-Attorney, to transfer the within Certificate on the books kept for registration thereof, with full power of substitution in the premises. Signature Dated: Signature Guaranteed: Signature must be guaranteed by a member of a Medallion Signature Program Address of Transferee: Social Security or other tax identification number of transferee: NOTE: The signature to this Assignment must correspond with the name as written on the face of the within bond in every particular, without alteration or enlargement or any change whatsoever. (End Form of Assignment) 236 A-9 (Form of Prepayment Panel) PREPAYMENT PANEL The following installments of principal (or portions thereof) of this certificate have been prepaid in accordance with the terms of the Indenture, as amended, authorizing the issuance of this certificate. Date of Prepayment Principal Prepaid Signature of Authorized Representative of the Depository (End of Form of Prepayment Panel) (End Form of Certificates) 237 AFTER RECORDATION PLEASE RETURN TO: Butler Snow LLP 1801 California Street, Suite 5100 Denver, Colorado 80202 Attention: Kimberley Crawford, Esq. Pursuant to C.R.S. § 39-13-104(1)(j),, this Lease Purchase Agreement is exempt from the documentary fee. LEASE PURCHASE AGREEMENT DATED AS OF [CLOSING DATE],2025 BETWEEN U.S. BANK TRUST COMPANY,NATIONAL ASSOCIATION, SOLELY IN ITS CAPACITY AS TRUSTEE UNDER THE INDENTURE, AS LESSOR AND TOWN OF VAIL,COLORADO, AS LESSEE 238 i This Table of Contents is not a part of this Lease and is only for convenience of reference. TABLE OF CONTENTS ARTICLE 1 DEFINITIONS........................................................................................................... 3 Section 1.1 Certain Funds and Accounts................................................................................ 3 Section 1.2 Definitions............................................................................................................ 3 ARTICLE 2 REPRESENTATIONS AND COVENANTS............................................................ 9 Section 2.1 Representations and Covenants of the Town....................................................... 9 Section 2.2 Representations and Covenants of the Trustee.................................................. 10 Section 2.3 Nature of Lease.................................................................................................. 11 Section 2.4 Town Acknowledgement of Certain Matters..................................................... 11 Section 2.5 Relationship of Town and Trustee..................................................................... 12 ARTICLE 3 LEASE OF THE LEASED PROPERTY................................................................. 13 ARTICLE 4 LEASE TERM......................................................................................................... 14 Section 4.1 Duration of Lease Term..................................................................................... 14 Section 4.2 Termination of Lease Term ............................................................................... 15 ARTICLE 5 ENJOYMENT OF THE LEASED PROPERTY..................................................... 16 Section 5.1 Trustee’s Covenant of Quiet Enjoyment............................................................ 16 Section 5.2 Town’s Need for the Leased Property; Determinations as to Fair Value and Fair Purchase Price.................................................................................................... 16 ARTICLE 6 PAYMENTS BY THE TOWN................................................................................ 17 Section 6.1 Payments to Constitute Currently Budgeted Expenditures of the Town........... 17 Section 6.2 Base Rentals, Purchase Option Price and Additional Rentals........................... 17 Section 6.3 Manner of Payment............................................................................................ 18 Section 6.4 Nonappropriation............................................................................................... 19 Section 6.5 Holdover Tenant................................................................................................ 20 Section 6.6 Prohibition of Adverse Budget or Appropriation Modifications....................... 21 ARTICLE 7 SITE LEASE; TITLE INSURANCE....................................................................... 22 Section 7.1 Site Lease........................................................................................................... 22 Section 7.2 Title Insurance ................................................................................................... 22 ARTICLE 8 TITLE TO LEASED PROPERTY; LIMITATIONS ON ENCUMBRANCES...... 23 Section 8.1 Title to the Leased Property............................................................................... 23 Section 8.2 No Encumbrance, Mortgage or Pledge of the Leased Property......................... 23 ARTICLE 9 MAINTENANCE; TAXES; INSURANCE AND OTHER CHARGES................. 24 Section 9.1 Maintenance of the Leased Property by the Town............................................ 24 239 ii Section 9.2 Modification of the Leased Property; Installation of Furnishings and Machinery of the Town........................................................................................................ 24 Section 9.3 Taxes, Other Governmental Charges and Utility Charges................................. 24 Section 9.4 Provisions for Liability and Property Insurance................................................ 25 Section 9.5 Advances............................................................................................................ 26 Section 9.6 Granting of Easements....................................................................................... 26 ARTICLE 10 DAMAGE, DESTRUCTION AND CONDEMNATION; USE OF NET PROCEEDS.................................................................................................................................. 27 Section 10.1 Damage, Destruction and Condemnation.......................................................... 27 Section 10.2 Obligation to Repair and Replace the Leased Property..................................... 27 Section 10.3 . 27 Section 10.4 Insufficiency of Net Proceeds............................................................................ 28 Section 10.5 Cooperation of the Trustee................................................................................. 29 ARTICLE 11 DISCLAIMER OF WARRANTIES; OTHER COVENANTS............................. 30 Section 11.1 Disclaimer of Warranties................................................................................... 30 Section 11.2 Further Assurances and Corrective Instruments................................................ 30 Section 11.3 Compliance with Requirements......................................................................... 30 Section 11.4 Release and Substitution of Leased Property..................................................... 30 Section 11.5 Tax Covenants ................................................................................................... 31 Section 11.6 Undertaking to Provide Ongoing Disclosure..................................................... 32 Section 11.7 Exculpation; Covenant to Reimburse Legal Expenses...................................... 32 Section 11.8 Access to the Leased Property; Rights to Inspect Books................................... 32 Section 11.9 Environmental Matters....................................................................................... 33 ARTICLE 12 PURCHASE OPTION........................................................................................... 34 Section 12.1 Purchase Option................................................................................................. 34 Section 12.2 Conditions for Purchase Option......................................................................... 34 Section 12.3 Manner of Conveyance...................................................................................... 34 Section 12.4 Release of Portions of the Leased Property....................................................... 35 ARTICLE 13 ASSIGNMENT AND SUBLEASING.................................................................. 36 Section 13.1 Assignment by the Trustee; Replacement of the Trustee.................................. 36 Section 13.2 Assignment and Subleasing by the Town.......................................................... 36 ARTICLE 14 EVENTS OF LEASE DEFAULT AND REMEDIES........................................... 37 Section 14.1 Events of Lease Default Defined....................................................................... 37 Section 14.2 Remedies on Default.......................................................................................... 37 Section 14.3 Limitations on Remedies................................................................................... 38 Section 14.4 No Remedy Exclusive........................................................................................ 39 Section 14.5 Waivers.............................................................................................................. 39 Section 14.6 Waiver of Appraisement, Valuation, Stay, Extension and Redemption Laws.. 39 240 iii ARTICLE 15 MISCELLANEOUS.............................................................................................. 40 Section 15.1 Sovereign Powers of Town................................................................................ 40 Section 15.2 Notices............................................................................................................... 40 Section 15.3 Third Party Beneficiaries................................................................................... 40 Section 15.4 Binding Effect.................................................................................................... 40 Section 15.5 Amendments...................................................................................................... 41 Section 15.6 Amounts Remaining in Funds ........................................................................... 41 Section 15.7 Triple Net Lease................................................................................................. 41 Section 15.8 Computation of Time......................................................................................... 41 Section 15.9 Payments Due on Holidays................................................................................ 41 Section 15.10 Severability........................................................................................................ 41 Section 15.11 Execution in Counterparts.................................................................................. 42 Section 15.12 Applicable Law.................................................................................................. 42 Section 15.13 The Trustee is Independent of the Town........................................................... 42 Section 15.14 Governmental Immunity.................................................................................... 42 Section 15.15 Recitals............................................................................................................... 42 Section 15.16 Captions............................................................................................................. 42 Section 15.17 Trustee’s Disclaimer.......................................................................................... 42 Section 15.18 Electronic Transactions...................................................................................... 42 RELEASE AND AMORTIZATION SCHEDULE........................................................................ 1 EXHIBIT A DESCRIPTION OF LEASED PROPERTY.......................................................A-1 EXHIBIT B PERMITTED ENCUMBRANCES.....................................................................B-1 EXHIBIT C BASE RENTALS SCHEDULE ..........................................................................C-1 EXHIBIT D FORM OF NOTICE OF LEASE RENEWAL...................................................D-1 EXHIBIT E RELEASE AND AMORTIZATION SCHEDULE.............................................E-1 241 1 This LEASE PURCHASE AGREEMENT, dated as of [CLOSING DATE], 2025 (this “Lease”), is by U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, Denver, Colorado, a national banking association duly organized and validly existing under the laws of the United States of America, solely in its capacity as trustee under the Indenture (the “Trustee”), as lessor, and the TOWN OF VAIL, COLORADO, a Colorado home rule municipality duly organized and validly existing under the Constitution and laws of the State of Colorado and the Town of Vail Home Rule Charter (the “Town”), as lessee. PREFACE All capitalized terms used herein will have the meanings ascribed to them in Article 1 of this Lease. RECITALS 1.The Town is a duly organized and validly existing home rule municipality of the State of Colorado, created and operating pursuant to Article XX of the Constitution of the State of Colorado and the Town of Vail Home Rule Charter (the “Charter”). 2.Pursuant to Article XX, Section 6 of the Colorado Constitution and Section 13.3 of the Charter, the Town is authorized to lease, for such term as the Town Council of the Town (the “Council”) shall determine, any real or personal property to or from any person, firm or corporation, public or private, governmental or otherwise. 3.Because the demand for workforce housing in the Town exceeds the supply, the Council hereby determines that it is in the public interest and is a public purpose for the Town to assist Vail Home PartnersCorporation (the “Corporation”) to finance the acquisition, construction, installation, equipping of a portion of the West Middle Creek housing development, a for-rent housing development (the “Development”), including any legally permitted costs and expenditures in connection therewith, all for public purposes, and as authorized by law, by advancing a loan to the Corporation (the “Project”). 4.The Council has determined that it is in the best interests of the Town and the public health, safety and welfare to provide for the financing of the Project by entering into a Site Lease Agreement with the Trustee, acting solely in its capacity as trustee (the “Site Lease”) and this Lease. 5.The Town owns, in fee title, various properties and facilities as defined and more particularly described in Exhibit A attached hereto and collectively referred to herein as the “Leased Property”). 6.To accomplish the Project, the Trustee, solely in its capacity of Trustee under the Indenture, will acquire a leasehold interest in the Leased Property by leasing the Leased Property from the Town pursuant to the Site Lease, and the Trustee will lease the Leased Property back to the Town pursuant to this Lease. 7.Contemporaneously with the execution and delivery of the Site Lease and this Lease, the Trustee will execute and deliver an Indenture of Trust (the “Indenture”) pursuant to 242 2 which there will be executed and delivered certain certificates of participation (the “Certificates”) that will be dated as of their date of delivery, will evidence proportionate interests in the right to receive Base Rentals and other Revenues under this Lease, will be payable solely from the sources provided herein, and which will not directly or indirectly obligate the Town to make any payments beyond those appropriated for any fiscal year during which this Lease is in effect. 8.The net proceeds of the Certificates will be used to finance the Project, as well as the costs of execution and delivery of the Certificates. 9.The payment by the Town of Base Rentals and Additional Rentals hereunder in any future Fiscal Year is subject to specific Appropriation and renewal by the Council of this Lease for such future Fiscal Year. The Base Rentals and Additional Rentals payable by the Town under this Lease constitute current expenditures of the Town. 10.Neither this Lease nor the payment by the Town of Base Rentals or Additional Rentals hereunder shall be deemed or construed as creating an indebtedness of the Town within the meaning of any provision of the Colorado Constitution, the Charter or the laws of the State of Colorado, concerning or limiting the creation of indebtedness by the Town, and shall not constitute a multiple fiscal year direct or indirect debt or other financial obligation of the Town within the meaning of Article X, Section 20(4) of the Colorado Constitution or a mandatory charge or requirement against the Town in any ensuing Fiscal Year beyond the then current Fiscal Year. The obligation of the Town to pay Base Rentals and Additional Rentals hereunder is from year to year only, shall constitute currently budgeted expenditures of the Town, shall not constitute a mandatory charge or requirement in any ensuing budget year, nor a mandatory payment obligation of the Town in any ensuing Fiscal Year beyond any Fiscal Year during which this Lease shall be in effect. In the event that this Lease is not renewed, the sole security available to the Trustee, as lessor hereunder, shall be the Leased Property. 11.The Trustee is executing this Lease solely in its capacity as trustee under the Indenture, and subject to the terms, conditions and protections provided for therein. 12.The Trustee and the Town intend that this Lease sets forth their entire understanding and agreement regarding the terms and conditions upon which the Town is leasing the Leased Property from the Trustee. NOW, THEREFORE, for and in consideration of the mutual promises and covenants herein contained, the Trustee and the Town agree as follows: 243 3 ARTICLE 1 DEFINITIONS Section 1.1 Certain Funds and Accounts. All references herein to any funds and accounts shall mean the funds and accounts so designated which are established under the Indenture. Section 1.2 Definitions. All capitalized terms used herein and not otherwise defined shall have the meanings given to them in the Indenture, unless the context otherwise requires. Capitalized terms used herein shall have the following meanings under this Lease: “Additional Certificates” means Additional Certificates which may be executed and delivered pursuant to the Indenture. “Additional Rentals” means the payment or cost of all: (a)(i) reasonable expenses and fees of the Trustee related to the performance or discharge of its responsibilities under the provisions of this Lease, the Site Lease or the Indenture, including the reasonable fees and expenses of any person or firm employed by the Town to make rebate calculations under the provisions of Section 3.05 of the Indenture and the expenses of the Trustee in respect of any policy of insurance or surety bond obtained in respect of the Certificates executed and delivered with respect to this Lease, (ii) the cost of insurance premiums and insurance deductible amounts under any insurance policy to protect the Trustee from any liability under this Lease, approved by the Town Representative, which approval shall not be unreasonably withheld, (iii) reasonable legal fees and expenses incurred by the Trustee to defend the Trust Estate or the Trustee from and against any legal claims related to the performance or discharge of its responsibilities under the provisions of this Lease, the Site Lease or the Leased Property, and (iv) reasonable expenses and fees of the Trustee incurred at the request of the Town Representative; (b)taxes, assessments, insurance premiums, utility charges, maintenance, upkeep costs, remediation and restoration costs, repair and replacement with respect to the Leased Property and as otherwise required under this Lease; (c)payments into the Rebate Fund for rebate payments as provided in this Lease; and (d)all other charges and costs (together with all interest and penalties that may accrue thereon in the event that the Town shall fail to pay the same, as specifically set forth in this Lease) which the Town agrees to assume or pay as Additional Rentals under this Lease. Additional Rentals do not include Base Rentals. “Appropriation” means the action of the Council in annually making moneys available for all payments due under this Lease, including the payment of Base Rentals and Additional Rentals. 244 4 “Approval of Special Counsel” means an opinion of Special Counsel to the effect that the matter proposed will not adversely affect the excludability from gross income for federal income tax purposes of the Interest Portion of the Base Rentals paid by the Town under this Lease attributable to the Certificates. “Base Rentals” means the rental payments payable by the Town to the Trustee during the Lease Term, which constitute payments payable by the Town for and in consideration of the right to possess and use the Leased Property as set forth in Exhibit C (Base Rentals Schedule) hereto. Base Rentals does not include Additional Rentals. “Base Rentals Payment Dates” means the Base Rentals Payment Dates set forth in Exhibit C (Base Rentals Schedule) hereto. “Business Day” means any day, other than a Saturday, Sunday or legal holiday or a day (a) on which banks located in Denver, Colorado, are required or authorized by law or executive order to close or (b) on which the Federal Reserve System is closed. “Certificates” means the “Certificates of Participation, Series 2021, evidencing Proportionate Interests in the Base Rentals and other Revenues under an annually renewable Lease Purchase Agreement dated as of [CLOSING DATE], 2025, between U.S. Bank Trust Company, National Association, solely in its capacity as trustee under the Indenture, as lessor, and the Town of Vail, Colorado, as lessee” dated as of their date of delivery, executed and delivered pursuant to the Indenture. “Charter” means the Town of Vail Home Rule Charter, as may be amended and supplemented from time to time. “Continuing Disclosure Certificate” means the certificate executed by the Town of even date herewith which constitutes an undertaking pursuant to Rule 15c2-12 promulgated by the Securities and Exchange Commission. “Costs of Execution and Delivery” means all items of expense directly or indirectly payable by the Trustee related to the authorization, execution and delivery of the Site Lease and this Lease and related to the authorization, sale, execution and delivery of the Certificates, as further defined in the Indenture. “Council” means the Town Council of the Town. “Counsel” means an attorney at law or law firm (who may be counsel for the Trustee) who is satisfactory to the Town. “C.R.S.” means Colorado Revised Statutes. “Development”means the West Middle Creek housing development, a for-rent housing development located in the Town. “Environmental Law” means any applicable federal, state or local law, statute, ordinance, rule, regulation or code, any license, permit, authorization, administrative or court order, judgment, decree or injunction, including all common law, related to pollution, protection or restoration of 245 5 health, safety or the environment, reclamation of mined lands, or the use, storage, recycling, treatment, generation, transportation, processing, handling, labeling, production, release or disposal of pollutants or Hazardous Substances, including, without limitation, CERCLA; the Resource Conservation and Recovery Act, as amended, 42 U.S.C. Section 6901, et seq.; the Clean Air Act, 42 U.S.C. Section 7401, et seq.; the Federal Water Pollution Control Act, 33 U.S.C. Section 1251, et seq.; the Toxic Substances Control Act, 15 U.S.C. Section 2601, et seq.; the Emergency Planning and Community Right to Know Act, 42 U.S.C. Section 11001, et seq.; the Safe Drinking Water Act, 42 U.S.C. Section 300f, et seq.; the Oil Pollution Act of 1990, 33 U.S.C. Section 2701 et seq.; and the Occupational Safety and Health Act, 29 U.S.C. 651, et seq., and any applicable state or local law counterparts, as the same may be reauthorized or amended from time to time. “Event(s) of Lease Default” means any event as defined in Section 14.1 hereof. “Event of Nonappropriation” means the termination and non-renewal of this Lease by the Town, determined by the Council’s failure, for any reason, to appropriate by the last day of each Fiscal Year, (a) sufficient amounts to be used to pay Base Rentals due in the next Fiscal Year and (b) sufficient amounts to pay such Additional Rentals as are estimated to become due in the next Fiscal Year, as provided in Section 6.4 hereof. An Event of Nonappropriation may also occur under certain circumstances described in Section 10.3(c) hereof. The term also means a notice under this Lease of the Town’s intention to not renew and therefore terminate this Lease or an event described in this Lease relating to the exercise by the Town of its right to not appropriate amounts due as Additional Rentals in excess of the amounts for which an Appropriation has been previously effected. “Finance Director” means the Finance Director of the Town or theirsuccessor in functions, if any. “Fiscal Year” means the Town’s fiscal year, which begins on January 1 of each calendar year and ends on December 31 of the same calendar year, or any other twelve month period which the Town or other appropriate authority hereafter may establish, after notification to the Trustee and the Owners, as the Town’s fiscal year. “Force Majeure” means, without limitation, the following: acts of God; strikes, lockouts or other industrial disturbances; acts of public enemies; orders or restraints of any kind of the government of the United States of America, the State of Colorado or any of their departments, agencies or officials or any civil or military authority; insurrection; riots; landslides; earthquakes; fires; storms; droughts; floods; explosions; breakage or accidents to machinery, transmission pipes or canals; pandemics or other declared health emergencies; or any other cause or event not within the control of the Town in its capacity as lessee hereunder or the Trustee. “Hazardous Substance” means and includes: (a) the terms “hazardous substance,” “release” and “removal” which, as used herein, shall have the same meaning and definition as set forth in paragraphs (14), (22) and (23), respectively, of Title 42 U.S.C. §9601 and in Colorado law, provided, however, that the term “hazardous substance” as used herein shall also include “hazardous waste” as defined in paragraph (5) of 42 U.S.C. §6903 and “petroleum” as defined in paragraph (8) of 42 U.S.C. §6991; (b) the term “superfund” as used herein means the Comprehensive Environmental Response, Compensation and Liability Act, as amended, being 246 6 Title 42 U.S.C. §9601 et seq., as amended, and any similar State of Colorado statute or local ordinance applicable to the Leased Property, including, without limitation, Colorado rules and regulations promulgated, administered and enforced by any governmental agency or authority pursuant thereto; and (c) the term “underground storage tank” as used herein shall have the same meaning and definition as set forth in paragraph (1) of 42 U.S.C. §6991. “Indenture” means the Indenture of Trust, dated as of [CLOSING DATE], 2025, entered into by the Trustee, as the same may be amended or supplemented. “Initial Term” means the period which commences on the date of delivery of this Lease and terminates on December 31, 2025. “Interest Portion” means the portion of each Base Rentals payment that represents the payment of interest set forth in Exhibit C (Base Rentals Schedule) hereto. “Lease” means this Lease Purchase Agreement, dated as of [CLOSING DATE], 2025, between the Trustee, as lessor, and the Town, as lessee, as the same may hereafter be amended. “Lease Remedy” or “Lease Remedies” means any or all remedial steps provided in this Lease whenever an Event of Lease Default or an Event of Nonappropriation has happened and is continuing, which may be exercised by the Trustee as provided in this Lease and in the Indenture. “Lease Term” means the Initial Term and any Renewal Terms as to which the Town may exercise its option to renew this Lease by effecting an Appropriation of funds for the payment of Base Rentals and Additional Rentals hereunder, as provided in and subject to the provisions of this Lease. “Lease Term” refers to the time during which the Town is the lessee of the Leased Property under this Lease. “Leased Property” means the Site and the premises, buildings and improvements situated thereon, including all fixtures attached thereto, as more particularly described in Exhibit A to this Lease, together with any and all additions and modifications thereto and replacements thereof, including, without limitation, any New Facility. “Mayor”means the Mayor of the Town or such person’s successor in functions, if any. “Net Proceeds” means the proceeds of any performance or payment bond, or proceeds of insurance, including self-insurance, required by this Lease or proceeds from any condemnation award, or proceeds derived from the exercise of any Lease Remedy or otherwise following termination of this Lease by reason of an Event of Nonappropriation or an Event of Lease Default, allocable to the Leased Property, less (a) all related expenses (including, without limitation, attorney’s fees and costs) incurred in the collection of such proceeds or award; and (b) all other related fees, expenses and payments due to the Town and the Trustee. “New Facility” means any real property, buildings or equipment leased by the Town to the Trustee pursuant to a future amendment to the Site Lease and leased back by the Town from the Trustee pursuant to a future amendment to this Lease in connection with the execution and delivery of Additional Certificates. “Owner” means the registered owner of any Certificates and Beneficial Owners. 247 7 “Permitted Encumbrances” means, as of any particular time: (a) liens for taxes and assessments not then delinquent, or liens which may remain unpaid pending contest pursuant to the provisions of this Lease; (b) the Site Lease, this Lease, the Indenture and any related fixture filing and any liens arising or granted pursuant to this Lease or the Indenture; (c) utility, access and other easements and rights of way, licenses, permits, party wall and other agreements, restrictions and exceptions which the Town Representative certifies will not materially interfere with or materially impair the Leased Property, including rights or privileges in the nature of easements, licenses, permits, and agreements as provided in this Lease; (d) any sublease of the Leased Property that is permitted pursuant to the terms and provisions of Section 13.2 hereof; and (e) the easements, covenants, restrictions, liens and encumbrances to which title to the Leased Property was subject when leased to the Trustee pursuant to the Site Lease, as shown on Exhibit B hereto, and which the Town Representative hereby certifies do not and will not interfere in any material way with the Leased Property. “Prepayment” means any amount paid by the Town pursuant to the provisions of this Lease as a prepayment of the Base Rentals due hereunder. “Principal Portion” means the portion of each Base Rentals payment that represents the payment of principal set forth in Exhibit C (Base Rentals Schedule) hereto. “Project” means to the extent financed with the proceeds of the Certificates, the granting of a loan to the Vail Home Partners Corporation to acquire, construct, install, and equip housing units in West Middle Creek, a for-rent workforce housing project, including any legally permitted costs and expenditures in connection therewith, all for public purposes, and as authorized by law, and payment of the costs of issuing the Certificates. “Purchase Option Price” means the amount payable on any date, at the option of the Town, to prepay Base Rentals, terminate the Lease Term and purchase the Trustee’s leasehold interest in the Leased Property, as provided herein. “Renewal Term” means any portion of the Lease Term commencing on January 1 of any calendar year and terminating on or before December 31 of such calendar year as provided in Article 4 hereof. “Revenues” means (a) all amounts payable by or on behalf of the Town or with respect to the Leased Property pursuant to this Lease including, but not limited to, all Base Rentals, Prepayments, the Purchase Option Price and Net Proceeds, but not including Additional Rentals; (b) any portion of the proceeds of the Certificates deposited into the Base Rentals Fund created under the Indenture; (c) any moneys which may be derived from any insurance in respect of the Certificates; and (d) any moneys and securities, including investment income, held by the Trustee in the Funds and Accounts established under the Indenture (except for moneys and securities held in the Rebate Fund or any defeasance escrow account). “Site” means the real property owned by the Town and leased by the Town to the Trustee under the Site Lease and subleased by the Trustee to the Town under this Lease, the legal description of which is set forth in Exhibit A hereto, or an amendment or supplement hereto. 248 8 “Site Lease” means the Site Lease, dated as of [CLOSING DATE], 2025, between the Town, as lessor, and the Trustee, as lessee, as the same may hereafter be amended. “Special Counsel” means any counsel experienced in matters of municipal law and listed in the list of municipal bond attorneys, as published semiannually by The Bond Buyer, or any successor publication. So long as the Lease Term is in effect, the Town shall have the right to select Special Counsel. “Tax Certificate” means the Tax Compliance and No Arbitrage Certificate entered into by the Town with respect to this Lease and the Certificates. “Tax Code” means the Internal Revenue Code of 1986, as amended, and all regulations and rulings promulgated thereunder. “Town” means the Town of Vail, Colorado. “Town Manager” means the Town Manager of the Town or their successor in function. “Town Representative” means the Mayor, the Town Manager or the Finance Director or such other person at the time designated to act on behalf of the Town for the purpose of performing any act under this Lease, the Site Lease or the Indenture by a written certificate furnished to the Trustee containing the specimen signature of such person or persons and signed on behalf of the Town by the Mayor. “Trustee” means U.S. Bank Trust Company, National Association, acting solely in the capacity of trustee pursuant to the Indenture, and any successor thereto appointed under the Indenture. 249 9 ARTICLE 2 REPRESENTATIONS AND COVENANTS Section 2.1 Representations and Covenants of the Town. The Town represents and covenants to the Trustee, to the extent allowed by law and subject to renewal of this Lease and Appropriation as set forth in Article 6 hereof as follows: (a)The Town is a home rule municipal corporation duly organized and existing within the State under the Colorado Constitution, the laws of the State and the Charter. The Town is authorized to enter into this Lease and the Site Lease and to carry out its obligations under this Lease and the Site Lease. The Council has duly authorized and approved the execution and delivery of this Lease, the Site Lease and all other documents related to the execution and delivery of this Lease and the Site Lease. (b)The Town owns the Leased Property and the Trustee has a leasehold interest in the Leased Property pursuant to the Site Lease. (c)The leasing of the Leased Property by the Town to the Trustee pursuant to the Site Lease and the leasing or subleasing of the Leased Property from the Trustee, under the terms and conditions provided for in this Lease, and the implementation of the Project by the Town, are necessary, convenient and in furtherance of the Town’s public purposes and are in the best interests of the public health, safety and welfare. The Town will apply the net proceeds derived from the proceeds of the Certificates to effectuate the Project. (d)Neither the execution and delivery of this Lease and the Site Lease, nor the fulfillment of or compliance with the terms and conditions of this Lease and the Site Lease, nor the consummation of the transactions contemplated hereby or thereby, conflicts with or results in a breach of the terms, conditions or provisions of any restriction or any agreement or instrument to which the Town is now a party or by which the Town or its property is bound, or violates any statute, regulation, rule, order of any court having jurisdiction, judgment or administrative order applicable to the Town, or constitutes a default under any of the foregoing, or results in the creation or imposition of any lien or encumbrance whatsoever upon any of the property or assets of the Town, except for Permitted Encumbrances. (e)The Town agrees that, except for non-renewal and nonappropriation as set forth in Article 6 hereof, if the Town fails to perform any act which the Town is required to perform under this Lease, the Trustee may, but shall not be obligated to, perform or cause to be performed such act, and any reasonable expense incurred by the Trustee in connection therewith shall be an obligation owing by the Town (from moneys for which an Appropriation has been effected) to the Trustee shall be a part of Additional Rentals, and the Trustee shall be subrogated to all of the rights of the party receiving such payment. (f)There is no litigation or proceeding pending against the Town affecting the right of the Town to execute this Lease or the Site Lease or the ability of the Town to make the payments required hereunder or to otherwise comply with the obligations contained herein, or which, if adversely determined, would, in the aggregate or in any case, materially adversely affect the property, assets, financial condition or business of the Town or 250 10 materially impair the right or ability of the Town to carry on its operations substantially as now conducted or anticipated to be conducted in the future. (g)Except for customary materials necessary for construction, operation, cleaning and maintenance of the Leased Property, the Town shall not cause or permit any Hazardous Substance to be brought upon, generated at, stored or kept or used in or about the Leased Property without prior written notice to the Trustee, and all Hazardous Substances, including, customary materials necessary for construction, operation, cleaning and maintenance of the Leased Property, will be used, kept and stored in a manner that complies with all laws regulating any such Hazardous Substance so brought upon or used or kept in or about the Leased Property. If the presence of any Hazardous Substance on the Leased Property caused or permitted by the Town results in contamination of the Leased Property, or if contamination of the Leased Property by any Hazardous Substance otherwise occurs for which the Town is legally liable for damage resulting therefrom, then the Town shall include as an Additional Rental any amount necessary to reimburse the Trustee for legal expenses incurred to defend (to the extent that an Appropriation for the necessary moneys has been effected by the Town) the Trustee from claims for damages, penalties, fines, costs, liabilities or losses and to reimburse the Trustee for any other costs incurred addressing the presence of Hazardous Substances on the Leased Property. The reimbursement of the Trustee’s legal expenses and costs incurred is not an indemnification. It is expressly understood that the Town is not indemnifying the Trustee and expenses of such defense shall constitute Additional Rentals. Without limiting the foregoing, if the presence of any Hazardous Substance on the Leased Property caused or permitted by the Town results in any contamination of the Leased Property, the Town shall provide prior written notice to the Trustee and the Town shall promptly take all actions at its sole expense (which expenses shall constitute Additional Rentals) as are necessary to effect remediation of the contamination in accordance with legal requirements. (i)The Town agrees that its budget officer or other primary business official will do all things lawfully within such officer’s or official’s power (a) to include amounts to pay Base Rentals and Additional Rentals in each annual or biennial budget (as appropriate) to be submitted to its governing body and (b) to use best efforts to obtain and maintain funds from which such Base Rentals and Additional Rentals may be made during each fiscal period for which amounts have been duly appropriated to make such payments. (j)The Town covenants and agrees to comply with any applicable covenants and requirements of the Town set forth in the Tax Certificate. Section 2.2 Representations and Covenants of the Trustee. The Trustee represents and covenants as follows: (a)The Trustee is a national banking association duly organized and existing under the laws of the United States of America. The Trustee is authorized to enter into the Site Lease and this Lease, and to execute and deliver the Indenture and the Certificates, and to carry out its obligations hereunder and thereunder. (b)So long as no Event of Indenture Default has occurred and is then continuing or existing, except as specifically provided in the Site Lease or this Lease or as 251 11 necessary to transfer the Trust Estate to a successor Trustee, the Trustee shall not pledge or assign the Trustee’s right, title and interest in and to (i) this Lease or the Site Lease, (ii) the Base Rentals, other Revenues and collateral, security interests and attendant rights and obligations which may be derived under this Lease or the Site Lease and/or (iii) the Leased Property and any reversion therein or any of its or the Trustee’s other rights under this Lease or the Site Lease or assign, pledge, mortgage, encumber or grant a security interest in its or the Trustee’s right, title and interest in, to and under this Lease or the Site Lease or the Leased Property except for Permitted Encumbrances. (c)Neither the execution and delivery of this Lease and the Site Lease or the Indenture by the Trustee, nor the fulfillment of or compliance with the terms and conditions thereof and hereof, nor the consummation of the transactions contemplated thereby or hereby conflicts with or results in a breach of the terms, conditions and provisions of any restriction or any agreement or instrument to which the Trustee is now a party or by which the Trustee is bound, or constitutes a default under any of the foregoing. (d)To the Trustee’s knowledge, there is no litigation or proceeding pending against the Trustee affecting the right of the Trustee to execute this Lease and the Site Lease or to execute the Indenture, and perform its obligations thereunder or hereunder, except such litigation or proceeding as has been disclosed in writing to the Town on or prior to the date the Indenture is executed and delivered. Section 2.3 Nature of Lease. The Town and the Trustee acknowledge and agree that the Base Rentals and Additional Rentals hereunder shall constitute currently budgeted and appropriated expenditures of the Town and may be paid from any legally available funds. The Town’s obligations under this Lease shall be subject to the Town’s annual right to terminate this Lease (as further provided herein), and shall not constitute a mandatory charge or requirement in any ensuing Fiscal Year beyond the then current Fiscal Year. No provision of this Lease shall be construed or interpreted as creating a general obligation, multiple fiscal year financial obligation, or other indebtedness of the Town within the meaning of any constitutional, Charter or statutory debt limitation. No provision of this Lease shall be construed or interpreted as creating an unlawful delegation of governmental powers nor as a donation by or a lending of the credit of the Town within the meaning of Article XI, Sections 1 or 2 of the Colorado Constitution. Neither this Lease nor the execution and delivery of the Certificates shall directly or indirectly obligate the Town to make any payments beyond those duly budgeted and appropriated for the Town’s then current Fiscal Year. The Town shall be under no obligation whatsoever to exercise its option to purchase the Trustee’s leasehold interest in the Leased Property. No provision of this Lease shall be construed to pledge or to create a lien on any class or source of Town moneys, nor shall any provision of this Lease restrict the future issuance of any Town bonds or obligations payable from any class or source of Town moneys (provided, however, certain restrictions in the Indenture shall apply to the issuance of Additional Certificates). In the event that this Lease is not renewed by the Town, the sole security available to the Trustee, as lessor hereunder, shall be the Leased Property. Section 2.4 Town Acknowledgement of Certain Matters. The Town acknowledges the Indenture and the execution and delivery by the Trustee of the Indenture and the Certificates pursuant to the Indenture, and that all conditions precedent to the execution of the Indenture have been complied with. The Town also acknowledges the Trustee’s authority to act on behalf of the 252 12 Owners of the Certificates with respect to all rights, title and interests of the Trustee in, to and under this Lease, the Site Lease and the Leased Property. To the extent that the Town has duties, obligations and rights under the Indenture, the Town agrees to perform such duties and obligations so long as this Lease is in effect, subject to appropriation and to the extent permitted by law. Section 2.5 Relationship of Town and Trustee. The relationship of the Town and the Trustee under this Lease is, and shall at all times remain, solely that of lessee and lessor; and the Town neither undertakes nor assumes any responsibility or duty to the Trustee or to any third party with respect to the Trustee’s obligations relating to the Leased Property; and the Trustee does not undertake or assume any responsibility or duty to the Town or to any third party with respect to the Town’s obligations relating to the Leased Property. Notwithstanding any other provisions of this Lease: (a) the Town and the Trustee are not, and do not intend to be construed to be, partners, joint ventures, members, alter egos, managers, controlling persons or other business associates or participants of any kind of either of the other, and the Town and the Trustee do not intend to ever assume such status; and (b) the Town and the Trustee shall not be deemed responsible for, or a participant in, any acts, omissions or decisions of either of the other. 253 13 ARTICLE 3 LEASE OF THE LEASED PROPERTY The Trustee demises and leases the Leased Property to the Town and the Town leases the Leased Property from the Trustee, in accordance with the provisions of this Lease, subject only to Permitted Encumbrances, to have and to hold for the Lease Term. The Town and the Trustee acknowledge that the Town owns the Leased Property and the Town has leased the Leased Property to the Trustee pursuant to the Site Lease; and the Town and the Trustee intend that there be no merger of the Town’s interests as sublessee under this Lease and the Town’s ownership interest in the Leased Property so as to cause the cancellation of the Site Lease or this Lease, or an impairment of the leasehold and subleasehold interest intended to be created by the Site Lease and this Lease. 254 14 ARTICLE 4 LEASE TERM Section 4.1 Duration of Lease Term. The Lease Term shall commence as of the date hereof. The Initial Term shall terminate on December 31, 2025. This Lease may be renewed, solely at the option of the Town, for [__] Renewal Terms, provided, however, that the Lease Term shall terminate no later than December 31, 20[__], except that the Renewal Term beginning on January 1, 20[__] shall terminate upon the Town’s payment of the final Base Rental payment as set forth in Exhibit C. The Town hereby finds that the maximum Lease Term hereunder does not exceed the weighted average useful life of the Leased Property. The Town further determines and declares that the period during which the Town has an option to purchase the Trustee’s leasehold interest in the Leased Property (i.e., the entire maximum Lease Term) does not exceed the useful life of the Leased Property. The Town Manager or other officer of the Town at any time charged with the responsibility of formulating budget proposals for the Town is hereby directed to include in the annual budget proposals submitted to the Council, in any year in which this Lease shall be in effect, items for all payments required for the ensuing Renewal Term under this Lease until such time, if any, as the Town may determine to not renew and terminate this Lease. Notwithstanding this directive regarding the formulation of budget proposals, it is the intention of the Town that any decision to effect an Appropriation for the Base Rentals and Additional Rentals shall be made solely by the Council in its absolute discretion and not by any other official of the Town, as further provided in the following paragraph. During the Lease Term, the Town shall in any event, whether or not the Lease is to be renewed, furnish the Trustee with copies of its annual budget promptly after the budget is adopted. The Trustee shall have no duty to examine the Town’s annual budget. Not later than December 15 of the then current Initial Term or any Renewal Term the Town Representative shall give written notice (in substantially the form set forth in Exhibit D attached hereto) to the Trustee that either: (a)The Town has effected or intends to effect on a timely basis an Appropriation for the ensuing Fiscal Year which includes (i) sufficient amounts authorized and directed to be used to pay all of the Base Rentals; and (ii) sufficient amounts to pay such Additional Rentals as are estimated to become due; all as further provided in Sections 6.2, 6.3 and 6.4 hereof, whereupon, this Lease shall be renewed for the ensuing Fiscal Year; or (b)The Town has determined, for any reason, not to renew this Lease for the ensuing Fiscal Year. Subject to the provisions of Section 6.4(a) hereof, the failure to give such notice shall not constitute an Event of Lease Default, nor prevent the Town from electing not to renew this Lease, nor result in any liability on the part of the Town. The Town’s option to renew or not to renew this Lease shall be conclusively determined by whether or not the applicable Appropriation has been made on or before December 31 of each Fiscal Year, all as further provided in Article 6 hereof. 255 15 The terms and conditions hereof during any Renewal Term shall be the same as the terms and conditions hereof during the Initial Term, except that the Purchase Option Price and the Base Rentals shall be as provided in Article 12 and Exhibit C (Base Rentals Schedule) hereof. Section 4.2 Termination of Lease Term. The Lease Term shall terminate upon the earliest of any of the following events: (a)The expiration of the Initial Term or any Renewal Term during which there occurs an Event of Nonappropriation pursuant to Section 4.1 and Article 6 hereof(provided that the Lease Term will not be deemed to have been terminated if the Event of Nonappropriation is cured as provided in Section 6.4 hereof); (b)The occurrence of an Event of Nonappropriation under this Lease (provided that the Lease Term will not be deemed to have been terminated if the Event of Nonappropriation is cured as provided in Section 6.4 hereof); (c)The conveyance of the Trustee’s leasehold interest in the Leased Property under this Lease to the Town upon payment of the Purchase Option Price or all Base Rentals and Additional Rentals, for which an Appropriation has been effected by the Town for such purpose, as provided in Section 12.2(a) or (b) hereof; or (d)An uncured Event of Lease Default and termination of this Lease under Article 14 hereof by the Trustee. Except for an event described in subparagraph (c) above, upon termination of this Lease, the Town agrees to peacefully deliver possession of the Leased Property to the Trustee. Termination of the Lease Term shall terminate all unaccrued obligations of the Town under this Lease, and shall terminate the Town’s rights of possession under this Lease (except to the extent of the holdover provisions of Sections 6.5 and 14.2(c)(i) hereof, and except for any conveyance pursuant to Article 12 hereof). All obligations of the Town accrued prior to such termination shall be continuing until the Trustee gives written notice to the Town that such accrued obligations have been satisfied. Upon termination of the Lease Term any moneys received by the Trustee in excess of the amounts necessary to terminate and discharge the Indenture and this Lease, shall be paid to the Town. The Town shall not have the right to terminate this Lease due to a default by the Trustee under this Lease. 256 16 ARTICLE 5 ENJOYMENT OF THE LEASED PROPERTY Section 5.1 Trustee’s Covenant of Quiet Enjoyment. The Trustee hereby covenants that the Town shall, during the Lease Term, peaceably and quietly have, hold and enjoy the Leased Property without suit, trouble or hindrance from the Trustee, except as expressly required or permitted by this Lease. The Trustee shall not interfere with the quiet use and enjoyment of the Leased Property by the Town during the Lease Term so long as no Event of Lease Default shall have occurred. The Trustee shall, at the request of the Town and at the cost of the Town, cooperate fully in any legal action in which the Town asserts against third parties its right to such possession and enjoyment, or which involves the imposition of any taxes or other governmental charges on or in connection with the Leased Property. In addition, the Town may at its own expense join in any legal action affecting its possession and enjoyment of the Leased Property and shall be joined in any action affecting its liabilities hereunder. The provisions of this Article 5 shall be subject to the Trustee’s right to inspect the Leased Property and the Town’s books and records with respect thereto as provided in Section 11.8 hereof. Section 5.2 Town’s Need for the Leased Property; Determinations as to Fair Value and Fair Purchase Price. The Council has determined and hereby determines that the Town has a current need for the Leased Property. It is the present intention and expectation of the Town that this Lease will be renewed annually until the Trustee’s interests in the Site Lease are released and unencumbered title to the Leased Property is acquired by the Town pursuant to this Lease; but this declaration shall not be construed as contractually obligating or otherwise binding the Town. The Council has determined that the Base Rentals under this Lease during the Lease Term for the Leased Property represent the fair value of the use of the Leased Property and that the Purchase Option Price for the Leased Property will represent the fair purchase price of the Trustee’s leasehold interest in the Leased Property at the time of the exercise of the option. The Council has determined that the Base Rentals do not exceed a reasonable amount so as to place the Town under an economic compulsion to renew this Lease or to exercise its option to purchase the Trustee’s leasehold interest in the Leased Property hereunder. In making such determinations, the Council has given consideration to the estimated current value of the Leased Property, the uses and purposes for which the Leased Property will be employed by the Town, the benefit to the citizens and inhabitants of the Town by reason of the use and occupancy of the Leased Property pursuant to the terms and provisions of this Lease, the Town’s option to purchase the Trustee’s leasehold interest in the Leased Property and the expected eventual vesting of unencumbered title to the Leased Property in the Town. The Council has determined that the period during which the Town has an option to purchase the Trustee’s leasehold interest in the Leased Property (i.e., the entire maximum Lease Term for the Leased Property) does not exceed the weighted average useful life of the Leased Property. 257 17 ARTICLE 6 PAYMENTS BY THE TOWN Section 6.1 Payments to Constitute Currently Budgeted Expenditures of the Town. The Town and the Trustee acknowledge and agree that the Base Rentals, Additional Rentals and any other obligations hereunder shall constitute currently budgeted expenditures of the Town, if an Appropriation has been effected for such purpose. The Town’s obligations to pay Base Rentals, Additional Rentals and any other obligations under this Lease shall be from year to year only (as further provided in Article 4 and Sections 6.2 and 6.4 hereof), shall extend only to moneys for which an Appropriation has been effected by the Town, and shall not constitute a mandatory charge, requirement or liability in any ensuing Fiscal Year beyond the then current Fiscal Year. No provision of this Lease shall be construed or interpreted as a delegation of governmental powers or as creating a multiple fiscal year direct or indirect debt or other financial obligation whatsoever of the Town or a general obligation or other indebtedness of the Town within the meaning of any constitutional, Charter provision or statutory debt limitation, including without limitation Article X, Section 20 of the Colorado Constitution. No provision of this Lease shall be construed or interpreted as creating an unlawful delegation of governmental powers nor as a donation by or a lending of the credit of the Town within the meaning of Sections 1 or 2 of Article XI of the Colorado Constitution. Neither this Lease nor the Certificates shall directly or indirectly obligate the Town to make any payments beyond those for which an Appropriation has been effected by the Town for the Town’s then current Fiscal Year. The Town shall be under no obligation whatsoever to exercise its option to purchase the Trustee’s leasehold interest in the Leased Property. No provision of this Lease shall be construed to pledge or to create a lien on any class or source of Town moneys, nor shall any provision of this Lease restrict the future issuance of any Town bonds or obligations payable from any class or source of Town moneys (provided, however, that certain restrictions in the Indenture shall apply to the issuance of Additional Certificates). Section 6.2 Base Rentals, Purchase Option Price and Additional Rentals. (a)The Town shall pay Base Rentals for which an Appropriation has been effected by the Town, directly to the Trustee during the Initial Term and any Renewal Term, on the Base Rentals Payment Dates and in the “Total Base Rentals” amounts set forth in Exhibit C (Base Rentals Schedule) attached hereto and made a part hereof. For federal and State income tax purposes, a portion of each payment of Base Rentals for the Certificates is designated and will be paid as interest, and Exhibit C (Base Rentals Schedule) hereto sets forth the Interest Portion of each payment of Base Rentals for the Certificates. The Town shall receive credit against its obligation to pay Base Rentals to the extent moneys are held by the Trustee on deposit in the Base Rentals Fund created under the Indenture and are available to pay Base Rentals. The Town acknowledges that upon receipt by the Trustee of each payment of Base Rentals, the Trustee, pursuant to the terms of the Indenture, is to deposit the amount of such Base Rentals in the Base Rentals Fund. The Base Rentals set forth in Exhibit C shall be recalculated in the event of the execution and delivery of Additional Certificates as provided in the Indenture and shall also be recalculated in the event of a partial redemption of the Certificates. The Trustee 258 18 may conclusively rely upon such revised Exhibit C (Base Rentals Schedule) and has no duty to make an independent investigation in connection therewith. (b)The Town may, on any date, pay the then applicable Purchase Option Price for the purpose of terminating this Lease and the Site Lease in whole and purchasing the Trustee’s leasehold interest in the Leased Property as further provided in Article 12 hereof. Subject to the Approval of Special Counsel, the Town may also, at any time during the Lease Term, (1) prepay any portion of the Base Rentals due under this Lease and (2) in connection with such prepayment, recalculate the Base Rentals set forth in Exhibit C (Base Rentals Schedule). Any such revised Exhibit C (Base Rentals Schedule) shall be prepared by the Town Representative and delivered to the Trustee. The Trustee may conclusively rely upon such revised Exhibit C (Base Rentals Schedule) and has no duty to make an independent investigation in connection therewith. The Town shall give the Trustee notice of its intention to exercise either of such options not less than 45 days in advance of the date of exercise and shall deposit with the Trustee by not later than the Business Day preceding the date of exercise an amount equal to the Purchase Option Price due on the date of exercise or the applicable amount of Base Rentals to be prepaid. If the Town shall have given notice to the Trustee of its intention to prepay Base Rentals but shall not have deposited the amounts with the Trustee on the date specified in such notice, the Town shall continue to pay Base Rentals which have been specifically appropriated by the Council for such purpose as if no such notice had been given. The Trustee may waive the right to receive 45 days advance notice and may agree to a shorter notice period in the sole determination of the Trustee. (c)All Additional Rentals shall be paid by the Town on a timely basis directly to the person or entity to which such Additional Rentals are owed. Additional Rentals shall include, without limitation, the reasonable fees and expenses of the Trustee, reasonable expenses of the Trustee in connection with the Leased Property and for the cost of taxes, insurance premiums, utility charges, maintenance and repair costs and all other expenses expressly required to be paid hereunder, and any other amounts due to the insurer of any of the Certificates, and any Rebate Fund payments required pursuant to this Lease and the Indenture. All of the payments required by this paragraph are subject to Appropriation by the Town; provided, however, a failure by the Town to budget and appropriate moneys for any of the payments required by this paragraph shall constitute an Event of Nonappropriation. If the Town’s estimates of Additional Rentals for any Fiscal Year are not itemized in the budget required to be furnished to the Trustee under Section 4.1 hereof, the Town shall furnish an itemization of such estimated Additional Rentals to the Trustee on or before the 15th day of the month immediately preceding such Fiscal Year. Section 6.3 Manner of Payment. The Base Rentals, for which an Appropriation has been effected by the Town, and, if paid, the Purchase Option Price, shall be paid or prepaid by the Town to the Trustee at its corporate trust office by wire transfer of federal funds, certified funds or other method of payment acceptable to the Trustee in lawful money of the United States of America. 259 19 An installment of Base Rentals or, if payable to the Trustee and due to Owner, Additional Rentals shall be considered paid on the date it is due if the Trustee holds on the preceding Business Day, by 10:00am Denver time, U.S. legal tender designated for and sufficient to pay the amount due to Owners. The obligation of the Town to pay the Base Rentals and Additional Rentals as required under this Article 6 and other sections hereof in any Fiscal Year for which an Appropriation has been effected by the Town for the payment thereof shall be absolute and unconditional and payment of the Base Rentals and Additional Rentals in such Fiscal Years shall not be abated through accident or unforeseen circumstances, or any default by the Trustee under this Lease, or under any other agreement between the Town and the Trustee, or for any other reason including without limitation, any acts or circumstances that may constitute failure of consideration, destruction of or damage to the Leased Property, commercial frustration of purpose, or failure of the Trustee, to perform and observe any agreement, whether expressed or implied, or any duty, liability or obligation arising out of or connected with this Lease, it being the intention of the parties that the payments required by this Lease will be paid in full when due without any delay or diminution whatsoever, subject only to the annually renewable nature of the Town’s obligation hereunder as set forth in Section 6.1 hereof, and further subject to the Town’s rights under Section 9.3 hereof. Notwithstanding any dispute between the Town and the Trustee, the Town shall, during the Lease Term, make all payments of Base Rentals and Additional Rentals in such Fiscal Years and shall not withhold any Base Rentals or Additional Rentals, for which an Appropriation has been effected by the Town, pending final resolution of such dispute (except to the extent permitted by Sections 8.2 and 9.3 hereof with respect to certain Additional Rentals), nor shall the Town assert any right of set-off or counterclaim against its obligation to make such payments required hereunder. No action or inaction on the part of the Trustee shall affect the Town’s obligation to pay all Base Rentals and Additional Rentals, for which a specific Appropriation has been effected by the Town for such purpose, in such Fiscal Years subject to this Article (except to the extent provided by Sections 8.2 and 9.3 hereof with respect to certain Additional Rentals). Section 6.4 Nonappropriation. In the event that the Town gives notice that it intends to not renew this Lease as provided by Section 4.1 hereof or the Town shall not effect an Appropriation, on or before December 31 of each Fiscal Year, of moneys to pay all Base Rentals and reasonably estimated Additional Rentals coming due for the next ensuing Renewal Term as provided in Section 4.1 hereof and this Article, or in the event that the Town is proceeding under the provisions of Section 10.3(c) hereof (when applicable), an Event of Nonappropriation shall be deemed to have occurred; subject, however, to each of the following provisions: (a)In the event the Trustee does not receive the written notice provided for by Section 4.1 hereof or evidence that an Appropriation has been effected by the Town on or before December 31 of a Fiscal Year, then the Trustee shall declare an Event of Nonappropriation on the first Business Day of the February following such Fiscal Year or such declaration shall be made on any earlier date on which the Trustee receives official, specific written notice from the Town that this Lease will not be renewed; provided that the Trustee’s failure to declare an Event of Nonappropriation on such date shall not be construed as a waiver of the Event of Nonappropriation or the consequences of an Event of Nonappropriation under this Lease. In order to declare an Event of Nonappropriation, the Trustee shall send written notice thereof to the Town. 260 20 (b)The Trustee shall waive any Event of Nonappropriation which is cured by the Town, within 30 days of the receipt by the Town of notice from the Trustee as provided in (a) above, by a duly effected Appropriation to pay all Base Rentals and sufficient amounts to pay reasonably estimated Additional Rentals coming due for such Renewal Term. (c)Pursuant to the terms of the Indenture, the Trustee may waive any Event of Nonappropriation which is cured by the Town within a reasonable time with the procedure described in (b) above. In the event that during the Initial Term or any Renewal Term, any Additional Rentals shall become due which were not included in a duly effected Appropriation and moneys are not specifically budgeted and appropriated or otherwise made available to pay such Additional Rentals within 60 days subsequent to the date upon which such Additional Rentals are due, an Event of Nonappropriation shall be deemed to have occurred, upon notice by the Trustee to the Town to such effect (subject to waiver by the Trustee as hereinbefore provided). If an Event of Nonappropriation occurs, the Town shall not be obligated to make payment of the Base Rentals or Additional Rentals or any other payments provided for herein which accrue after the last day of the Initial Term or any Renewal Term during which such Event of Nonappropriation occurs; provided, however, that, subject to the limitations of Sections 6.1 and 14.3 hereof, the Town shall continue to be liable for Base Rentals and Additional Rentals allocable to any period during which the Town shall continue to occupy, use or retain possession of the Leased Property. Subject to Section 6.5 hereof, the Town shall in all events vacate or surrender possession of the Leased Property by March 1 of the Renewal Term in respect of which an Event of Nonappropriation has occurred. After March 1 of the Renewal Term in respect of which an Event of Nonappropriation has occurred, the Trustee may proceed to exercise all or any Lease Remedies. The Town acknowledges that, upon the occurrence of an Event of Nonappropriation (a) the Trustee shall be entitled to all moneys then being held in all funds created under the Indenture (except the Rebate Fund, and any defeasance escrow accounts which are established with the written consent of the Trustee) to be used as described therein and (b) all property, funds and rights then held or acquired by the Trustee upon the termination hereof by reason of an Event of Nonappropriation are to be held by the Trustee in accordance with the terms of the Indenture. Section 6.5 Holdover Tenant. If the Town fails to vacate the Leased Property after termination of this Lease, whether as a result of the occurrence of an Event of Nonappropriation or an Event of Lease Default as provided in Section 14.2(a) hereof, with the written permission of the Trustee it will be deemed to be a holdover tenant on a month-to-month basis, and will be bound by all of the other terms, covenants and agreements of this Lease. Any holding over by the Town without the written permission of the Trustee shall be at sufferance. The amount of rent to be paid monthly during any period when the Town is deemed to be a holdover tenant will be equal to (a) one-sixth of the Interest Portion of the Base Rentals coming due on the next succeeding Base Rentals Payment Date plus one-twelfth of the Principal Portion of the Base Rentals coming due 261 21 on the next succeeding Base Rentals Payment Date on which a Principal Portion of the Base Rentals would have been payable with appropriate adjustments to ensure the full payment of such amounts on the due dates thereof in the event termination occurs during a Renewal Term plus (b) Additional Rentals as the same shall become due. Section 6.6 Prohibition of Adverse Budget or Appropriation Modifications. To the extent permitted by law, the Town shall not, during any Fiscal Year of the Lease Term, make any budgetary transfers or other modifications to its then existing budget and appropriation measures relating to the Leased Property or this Lease which would adversely affect the Town’s ability to meet its obligation to pay Base Rentals and duly budgeted and appropriated Additional Rentals hereunder. 262 22 ARTICLE 7 SITE LEASE; TITLE INSURANCE Section 7.1 Site Lease. At the time of the execution and delivery of this Lease, the Town shall have leased to the Trustee, and the Trustee shall have leased from the Town, the Leased Property pursuant to the Site Lease. As further provided in Section 8.1 hereof, a leasehold interest in the Leased Property shall be held by the Trustee, subject to this Lease. Section 7.2 Title Insurance. The Trustee shall be provided with a Leasehold Owner’s title insurance policy insuring the Trustee’s leasehold estate in the Leased Property under the Site Lease, subject only to Permitted Encumbrances, with such policy to be in an amount not less than the original aggregate principal amount of the Certificates or such lesser amount as shall be the maximum insurable value of the Leased Property. Such policy, or a binding commitment therefor, shall be provided to the Trustee concurrently with the execution and delivery of the Certificates. 263 23 ARTICLE 8 TITLE TO LEASED PROPERTY; LIMITATIONS ON ENCUMBRANCES Section 8.1 Title to the Leased Property. At all times during the Lease Term, title to the Leased Property shall remain in the Town, subject to the Site Lease, this Lease, the Indenture and any other Permitted Encumbrances. Except for personal property purchased by the Town at its own expense pursuant to Section 9.2 hereof, a leasehold estate in the Leased Property and any and all additions and modifications thereto and replacements thereof shall be held in the name of the Trustee until the Trustee has exercised Lease Remedies or until the Trustee’s leasehold interest in the Leased Property is conveyed to the Town as provided in Article 12 hereof, or until termination of the Site Lease, notwithstanding (a) the occurrence of an Event of Nonappropriation; (b) the occurrence of one or more Events of Lease Default; (c) the occurrence of any event of damage, destruction, condemnation, or construction, manufacturing or design defect or title defect, as provided in Article 10 hereof; or (d) the violation by the Trustee of any provision of the Site Lease or this Lease. The Trustee shall not, in any way, be construed as the owner of the Leased Property. Section 8.2 No Encumbrance, Mortgage or Pledge of the Leased Property. Except as may be permitted by this Lease, the Town shall not permit any mechanic’s or other lien to be established or remain against the Leased Property; provided that, if the Town shall first notify the Trustee of the intention of the Town to do so, the Town may in good faith contest any mechanic’s or other lien filed or established against the Leased Property, and in such event may permit the items so contested to remain undischarged and unsatisfied during the period of such contest and any appeal therefrom unless the Trustee shall notify the Town that, in the opinion of Counsel, by nonpayment of any such items the Trustee’s leasehold interest in the Leased Property will be materially endangered, or the Leased Property or any part thereof will be subject to loss or forfeiture, in which event the Town shall promptly pay and cause to be satisfied and discharged all such unpaid items (provided, however, that such payment shall not constitute a waiver of the right to continue to contest such items). The Trustee will cooperate in any such contest. Except as may be permitted by this Lease, the Town shall not directly or indirectly create, incur, assume or suffer to exist any mortgage, pledge, lien, charge, encumbrance or claim on or with respect to the Leased Property, except Permitted Encumbrances. The Town shall promptly, at its expense, take such action as may be necessary to duly discharge any such mortgage, pledge, lien, charge, encumbrance or claim not excepted above. 264 24 ARTICLE 9 MAINTENANCE; TAXES; INSURANCE AND OTHER CHARGES Section 9.1 Maintenance of the Leased Property by the Town. Subject to its right to not appropriate and as otherwise provided in Section 10.3 hereof, the Town agrees that at all times during the Lease Term, the Town will maintain, preserve and keep the Leased Property or cause the Leased Property to be maintained, preserved and kept, in good repair, working order and condition, and from time to time make or cause to be made all necessary and proper repairs, including replacements, if necessary. The Trustee shall have no responsibility in any of these matters or for the making of any additions, modifications or replacements to the Leased Property. Section 9.2 Modification of the Leased Property; Installation of Furnishings and Machinery of the Town. The Town shall have the privilege of making substitutions, additions, modifications and improvements to the Leased Property, at its own cost and expense, as appropriate and any such substitutions, additions, modifications and improvements to the Leased Property shall be the property of the Town, subject to the Site Lease, this Lease and the Indenture and shall be included under the terms of the Site Lease, this Lease and the Indenture; provided, however, that such substitutions, additions, modifications and improvements shall not in any way damage the Leased Property or cause the Leased Property to be used for purposes other than lawful governmental functions of the Town (except to the extent of subleasing permitted under Section 13.2 hereof) or cause the Town to violate its tax covenant in Section 11.5 hereof; and provided that the Leased Property, as improved or altered, upon completion of such substitutions, additions, modifications and improvements, shall be of a value not less than the value of the Leased Property immediately prior to such making of substitutions, additions, modifications and improvements. The Town may also, from time to time in its sole discretion and at its own expense, install machinery, equipment and other tangible property in or on the Leased Property. All such machinery, equipment and other tangible property shall remain the sole property of the Town in which the Trustee shall have no interests; provided, however, that title to any such machinery, equipment and other tangible property which becomes permanently affixed to the Leased Property shall be included under the terms of the Site Lease, this Lease and the Indenture, in the event that such Leased Property would be damaged or impaired by the removal of such machinery, equipment or other tangible property. The Town shall have the right to make substitutions to the Leased Property upon compliance with the provisions set forth in Section 11.4 hereof. Section 9.3 Taxes, Other Governmental Charges and Utility Charges. In the event that the Leased Property shall, for any reason, be deemed subject to taxation, assessments or charges lawfully made by any governmental body, the Town shall pay the amount of all such taxes, assessments and governmental charges then due, as Additional Rentals. With respect to special assessments or other governmental charges which may be lawfully paid in installments over a period of years, the Town shall be obligated to provide for Additional Rentals only for such installments as are required to be paid during the upcoming Fiscal Year. Except for Permitted Encumbrances, the Town shall not allow any liens for taxes, assessments or governmental charges to exist with respect to the Leased Property (including, without limitation, any taxes levied upon 265 25 the Leased Property which, if not paid, will become a charge on the rentals and receipts from the Leased Property, or any interest therein, including the leasehold interests of the Trustee), or the rentals and revenues derived therefrom or hereunder. The Town shall also pay as Additional Rentals, as the same respectively become due, all utility and other charges and fees and other expenses incurred in the operation, maintenance and upkeep of the Leased Property. The Town may, at its expense, in good faith contest any such taxes, assessments, utility and other charges and, in the event of any such contest, may permit the taxes, assessments, utility or other charges so contested to remain unpaid during the period of such contest and any appeal therefrom unless the Trustee shall notify the Town that, in the opinion of Counsel, by nonpayment of any such items the value of the Leased Property will be materially endangered or the Leased Property will be subject to loss or forfeiture, or the Trustee will be subject to liability, in which event such taxes, assessments, utility or other charges shall be paid forthwith (provided, however, that such payment shall not constitute a waiver of the right to continue to contest such taxes, assessments, utility or other charges). Section 9.4 Provisions for Liability and Property Insurance. During the Initial Term and each Renewal Term until termination of the Lease pursuant to Section 4.2 hereof, the Town shall, at its own expense, cause casualty and property damage insurance to be carried and maintained with respect to the Leased Property in an amount at least equal to the estimated replacement cost of the Leased Property. Such insurance policy or policies may have a deductible clause in an amount deemed reasonable by the Council. The Town may, in its discretion, insure the Leased Property under blanket insurance policies which insure not only the Leased Property, but other buildings as well, as long as such blanket insurance policies comply with the requirements hereof. If the Town shall insure against similar risks by self-insurance, the Town may, at its election provide for casualty and property damage insurance with respect to the Leased Property, partially or wholly by means of a self-insurance fund. If the Town shall elect to self- insure, the Town Representative shall annually furnish to the Trustee a certification of the adequacy of the Town’s reserves. The Trustee shall be named additional insured and loss payee on any casualty and property insurance. Upon the execution and delivery of this Lease and until termination of the Lease Term pursuant to Section 4.2 hereof, the Town shall, at its own expense, cause public liability insurance to be carried and maintained with respect to the activities to be undertaken by and on behalf of the Town in connection with the use of the Leased Property, in an amount not less than the limitations provided in the Colorado Governmental Immunity Act (C.R.S. § 24-10-101, et seq., as amended). Such insurance may contain deductibles and exclusions deemed reasonable by the Council. The public liability insurance required by this Section may be by blanket insurance policy or policies. If the Town shall insure against similar risks by self-insurance, the Town, at its election may provide for public liability insurance with respect to the Leased Property, partially or wholly by means of a self-insurance fund. If the Town elects to self-insure, the Town Representative shall annually furnish to the Trustee a certification of the adequacy of the Town’s reserves. The Trustee shall be named as additional insured and loss payee on any public liability insurance. Any casualty and property damage insurance policy required by this Section shall be so written or endorsed as to make payments under such insurance policy payable to the Town and the Trustee. Each insurance policy provided for in this Section shall contain a provision to the effect 266 26 that the insurance company shall not cancel the policy without first giving written notice thereof to the Town at least 30 days in advance of such cancellation. A certificate of insurance from the Town or the Town’s insurance agent will be acceptable evidence of insurance. All insurance policies issued pursuant to this Section, or certificates evidencing such policies, shall be deposited with the Trustee. No agent or employee of the Town shall have the power to adjust or settle any loss with respect to the Leased Property in excess of $25,000, whether or not covered by insurance, without the prior written consent of the Trustee; except that losses not exceeding $100,000 may be adjusted or settled by the Town without the Trustee’s consent. The Trustee shall have no responsibility for monitoring, renewing, or receiving of the insurance policies, or the certificates evidencing such policies, or the documents pertaining thereto, except as provided herein or in the Site Lease. Section 9.5 Advances. If the Town fails to pay any Additional Rentals during the Lease Term as such Additional Rentals become due, the Trustee may (but shall not be obligated to) pay such Additional Rentals and the Town agrees to reimburse the Trustee to the extent permitted by law and subject to Appropriation as provided under Article 6 hereof. Section 9.6 Granting of Easements. As long as no Event of Nonappropriation or Event of Lease Default shall have happened and be continuing, the Trustee, shall upon the request of the Town: (a) grant or enter into easements, permits, licenses, party wall and other agreements, rights- of-way (including the dedication of public roads) and other rights or privileges in the nature of easements, permits, licenses, party wall and other agreements and rights of way with respect to any property or rights included in this Lease (whether such rights are in the nature of surface rights, sub-surface rights or air space rights), free from this Lease and any security interest or other encumbrance created hereunder or thereunder; (b) release existing easements, permits, licenses, party wall and other agreements, rights-of-way, and other rights and privileges with respect to such property or rights, with or without consideration; and (c) execute and deliver any instrument necessary or appropriate to grant, enter into or release any such easement, permit, license, party wall or other agreement, right-of-way or other grant or privilege upon receipt of: (i) a copy of the instrument of grant, agreement or release and (ii) a written application signed by the Town Representative requesting such grant, agreement or release and stating that such grant, agreement or release will not materially impair the effective use or materially interfere with the operation of the Leased Property, and will not materially adversely affect the security intended to be given by or under the Indenture, the Site Lease or this Lease. 267 27 ARTICLE 10 DAMAGE, DESTRUCTION AND CONDEMNATION; USE OF NET PROCEEDS Section 10.1 Damage, Destruction and Condemnation. If, during the Lease Term, and of the following occur, then, the Town shall be obligated to continue to pay Base Rentals and Additional Rentals (subject to Article 6 hereof): (a)The Leased Property shall be destroyed (in whole or in part), or damaged by fire, contamination, or other casualty; or (b)Title to, or the temporary or permanent use of, the Leased Property or the estate of the Town or the Trustee in the Leased Property is taken under the exercise of the power of eminent domain by any governmental body or by any person, firm or entity acting under governmental authority; or (c)A breach of warranty or a material defect in the construction, manufacture or design of the Leased Property becomes apparent; or (d)Title to or the use of all or a portion of the Leased Property is lost by reason of a defect in title thereto, Section 10.2 Obligation to Repair and Replace the Leased Property. The Town and the Trustee, to the extent Net Proceeds are within their respective control, shall cause such Net Proceeds of any insurance policies, performance bonds or condemnation awards to be deposited in a separate trust fund held by the Trustee. All Net Proceeds so deposited shall be applied to the prompt repair, restoration, modification, improvement or replacement of the Leased Property by the Town, upon receipt by the Trustee of requisitions signed by the Town Representative stating with respect to each payment to be made: (a)The requisition number; (b)The name and address of the person, firm or entity to whom payment is due; (c)The amount to be paid; and (d)That each obligation mentioned therein has been properly incurred, is a proper charge against the separate trust fund and has not been the basis of any previous withdrawal and specifying in reasonable detail the nature of the obligation, accompanied by a bill or a statement of account for such obligation. The Trustee shall have no duty to review or examine the accompanying bill, invoice or statement of account, but may conclusively rely on the properly executed disbursement request. The Town and the Trustee shall agree to cooperate and use their best reasonable efforts subject to the terms of the Indenture to enforce claims which may arise in connection with material defects in the construction, manufacture or design of the Leased Property or otherwise. If there is a balance of any Net Proceeds allocable to the Leased Property remaining after such repair, restoration, 268 28 modification, improvement or replacement has been completed, this balance shall be used by the Town, to: (a)Add to, modify or alter the Leased Property or add new components thereto, or (b)Prepay the Base Rentals with a corresponding adjustment in the amount of Base Rentals payable under Exhibit C (Base Rentals Schedule) to this Lease, or (c)Accomplish a combination of (a) and (b). Any repair, restoration, remediation, modification, improvement or replacement of the Leased Property paid for in whole or in part out of Net Proceeds allocable to the Leased Property shall be the property of the Town, subject to the Site Lease, this Lease and the Indenture and shall be included as part of the Leased Property under this Lease. Section 10.4 Insufficiency of Net Proceeds. If the Net Proceeds (plus any amounts withheld from such Net Proceeds by reason of any deductible clause) are insufficient to pay in full the cost of any repair, restoration, remediation, modification, improvement or replacement of the Leased Property required under Section 10.2 hereof, the Town may elect to: (a)Complete the work or replace such Leased Property (or portion thereof) with similar property of a value equal to or in excess of such portion of the Leased Property and pay as Additional Rentals, to the extent amounts for Additional Rentals which have been specifically appropriated by the Town are available for payment of such cost, any cost in excess of the amount of the Net Proceeds allocable to the Leased Property, and the Town agrees that, if by reason of any such insufficiency of the Net Proceeds allocable to the Leased Property, the Town shall make any payments pursuant to the provisions of this paragraph, the Town shall not be entitled to any reimbursement therefor from the Trustee, nor shall the Town be entitled to any diminution of the Base Rentals and Additional Rentals, for which a specific Appropriation has been effected by the Town for such purpose, payable under Article 6 hereof; or (b)Apply the Net Proceeds allocable to the Leased Property to the payment of the Purchase Option Price in accordance with Article 12 hereof, or an appropriate portion thereof. In the event of an insufficiency of the Net Proceeds for such purpose, the Town shall, subject to the limitations of Section 6.1 hereof, pay such amounts as may be necessary to equal that portion of the Purchase Option Price which is attributable to the Leased Property for which Net Proceeds have been received (as certified to the Trustee by the Town); and in the event the Net Proceeds shall exceed such portion of the Purchase Option Price, such excess shall be used as directed by the Town in the same manner as set forth in Section 10.2 hereof; or (c)If the Town does not timely budget and appropriate sufficient funds to proceed under either (a) or (b) above, an Event of Nonappropriation will be deemed to have occurred and, subject to the Town’s right to cure, the Trustee may pursue remedies available to it following an Event of Nonappropriation. 269 29 The above referenced election shall be made by the Town within 90 days of the occurrence of an event specified in Section 10.1 hereof. It is hereby declared to be the Town’s present intention that, if an event described in Section 10.1 hereof should occur and if the Net Proceeds shall be insufficient to pay in full the cost of repair, restoration, modification, improvement or replacement of the Leased Property, the Town would use its best efforts to proceed under either paragraph (a) or paragraph (b) above; but it is also acknowledged that the Town must operate within budgetary and other economic constraints applicable to it at the time, which cannot be predicted with certainty; and accordingly the foregoing declaration shall not be construed to contractually obligate or otherwise bind the Town. Section 10.5 Cooperation of the Trustee. The Trustee shall cooperate fully with the Town in filing any proof of loss with respect to any insurance policy or performance bond covering the events described in Section 10.1 hereof and in the prosecution or defense of any prospective or pending condemnation proceeding with respect to the Leased Property and the enforcement of all warranties relating to the Leased Property. So long as no Event of Lease Default or Event of Nonappropriation has occurred and is then existing, the Trustee shall not voluntarily settle, or consent to the settlement of, any proceeding arising out of any insurance claim performance or payment bond claim, prospective or pending condemnation proceeding with respect to the Leased Property without the written consent of the Town. 270 30 ARTICLE 11 DISCLAIMER OF WARRANTIES; OTHER COVENANTS Section 11.1 Disclaimer of Warranties. THE TRUSTEE HAS NOT MADE AND WILL NOT MAKE ANY WARRANTY OR REPRESENTATION, EITHER EXPRESS OR IMPLIED, AS TO THE VALUE, DESIGN, CONDITION, MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR FITNESS FOR USE OF THE LEASED PROPERTY OR ANY OTHER REPRESENTATION OR WARRANTY WITH RESPECT TO THE LEASED PROPERTY. THE TOWN HEREBY ACKNOWLEDGES AND DECLARES THAT THE TOWN IS SOLELY RESPONSIBLE FOR THE CONDITION, MAINTENANCE, REPAIR AND OPERATION OF THE LEASED PROPERTY, AND THAT THE TRUSTEE HAS NO RESPONSIBILITY THEREFOR. For the purpose of enabling the Town to discharge such responsibility, the Trustee constitutes and appoints the Town as its attorney in fact for the purpose of asserting and enforcing, at the sole cost and expense of the Town, all manufacturer’s and contractor’s warranties and guaranties, express or implied, with respect to the Leased Property, as well as any claims or rights the Trustee may have in respect of the Leased Property against any manufacturer, supplier, contractor or other person. Except as otherwise provided in this Lease, the Trustee shall not be liable for any direct or indirect, incidental, special, punitive or consequential damage in connection with or arising out of this Lease, the Leased Property, or the existence, furnishing, functioning or use by the Town of any item, product or service provided for herein except that nothing shall relieve the Trustee’s liability for any claims, damages, liability or court awards, including costs, expenses and attorney fees, relating to or arising from the Trustee’s actions or omissions that result from the negligence, bad faith or willful misconduct of the Trustee or its employees. Section 11.2 Further Assurances and Corrective Instruments. The Trustee and the Town agree that they will, from time to time, execute, acknowledge and deliver, or cause to be executed, acknowledged and delivered, such amendments hereof or supplements hereto and such further instruments as may reasonably be required for correcting any inadequate or incorrect description of the Leased Property. Section 11.3 Compliance with Requirements. During the Lease Term, the Town and the Trustee shall observe and comply promptly to the extent possible with all current and future orders of all courts having jurisdiction over the Leased Property and/or all administrative orders issued by a governmental agency having jurisdiction over the Leased Property, provided that the Town and the Trustee may contest or appeal such orders so long as they are in compliance with such orders during the contest or appeal period, and all current and future requirements of all insurance companies writing policies covering the Leased Property. Section 11.4 Release and Substitution of Leased Property. So long as no Event of Lease Default or Event of Nonappropriation shall have occurred and be continuing, the Town shall be entitled to substitute any improved or unimproved real estate (collectively, the “Replacement Property”), for any Leased Property then subject to the Site Lease, this Lease, and the Indenture, upon receipt by the Trustee of a written request of the Town Representative requesting such release and substitution, provided that: 271 31 a.Such Replacement Property shall have an equal or greater value and utility (but not necessarily the same function) to the Town as the Leased Property proposed to be released, as determined by a certificate from the Town to that effect; b.The insured replacement value of Replacement Property, together with the insured replacement value of any portion of the Leased Property that remains after such substitution, shall be not less than the aggregate principal amount of the Outstanding Certificates, as certified in writing by the Town Representative; and c.The execution and delivery of such supplements and amendments to the Site Lease, this Lease and the Indenture, as applicable, and any other documents necessary to subject the Replacement Property to the encumbrance of the Site Lease, this Lease and the Indenture, and to release the portion of the Leased Property to be released from the encumbrance Site Lease, this Lease and the Indenture. The Trustee shall cooperate with the Town in implementing the Town’s rights to release and substitute property pursuant to this Section 11.4 and shall execute any and all conveyances, releases, or other documents necessary or appropriate in connection therewith. Section 11.5 Tax Covenants. The Town acknowledges that the moneys in all funds and accounts expected to be created under the Indenture are to be invested or deposited by the Trustee, at the written direction of the Town. The Town covenants for the benefit of the Owners of the Certificates that it will not take any action or omit to take any action with respect to the Certificates, the proceeds thereof, any other funds of the Town, or any facilities financed or refinanced with the proceeds of the Certificates (except for the possible exercise of the Town’s right to terminate this Lease as provided herein) if such action or omission: (a) would cause the interest on the Certificates to lose its exclusion from gross income for federal income tax purposes under Section 103 of the Tax Code; or (b) would cause interest on the Certificates to become a specific preference item for purposes of federal alternative minimum tax under the Tax Code, except as such interest is taken into account in determining the annual adjusted financial statement income of applicable corporations (as defined in Section 59(k) of the Tax Code) for the purpose of computing the alternative minimum tax imposed on corporations; or (c) would cause interest on the Certificates to lose its exclusion from Colorado taxable income or to lose its exclusion from Colorado alternative minimum taxable income under present Colorado law. Subject to the Town’s right to terminate this Lease as provided herein, the foregoing covenant shall remain in full force and effect, notwithstanding the payment in full or defeasance of the Certificates, until the date on which all obligations of the Town in fulfilling the above covenant under the Tax Code and Colorado law have been met. In addition, the Town covenants that its direction of investments pursuant to Article 5 of the Indenture shall be in compliance with the procedures established by the Tax Certificate to the extent required to comply with its covenants contained in the foregoing provisions of this Section. The Town hereby agrees that, to the extent necessary, it will, during the Lease Term, pay to the Trustee such sums as are required for the Trustee to pay the amounts due and owing to the United States Treasury as rebate payments. Any such payment shall be accompanied by directions to the 272 32 Trustee to pay such amounts to the United States Treasury. Any payment of Town moneys pursuant to the foregoing sentence shall be Additional Rentals for all purposes of this Lease. The Town is to execute the Tax Certificate in connection with the execution and delivery of this Lease, which Tax Certificate shall provide further details in respect of the Town’s tax covenants herein. Section 11.6 Undertaking to Provide Ongoing Disclosure. The Town covenants for the benefit of the Owners of the Certificates to comply with the terms of the Continuing Disclosure Certificate, provided that a failure of the Town to do so shall not constitute an Event of Lease Default. The Trustee shall have no power or duty to enforce this Section. Unless otherwise required by law, no Certificate owner shall be entitled to damages for the Town’s non-compliance with its obligations under this Section; however, the Certificate Owners may enforce specific performance of the obligations contained in this Section by any judicial proceedings available. Section 11.7 Exculpation; Covenant to Reimburse Legal Expenses. To the extent permitted by law, the Town shall hold harmless the Trustee against claims arising from the alleged negligent acts or omissions of the Town’s public employees, which occurred or are alleged to have occurred during the performance of their duties and within the scope of their employment, unless such acts or omissions are, or are alleged to be, willful and wanton. Such claims shall be subject to the limitations of the Colorado Governmental Immunity Act, C.R.S. 24-10-101 et seq. The Town shall include as Additional Rentals, the reimbursement of reasonable and necessary fees and expenses incurred by the Trustee to defend the Trustee from and against all claims, by or on behalf of any person, firm, corporation or other legal entity arising from the conduct or management of the Leased Property or from any work or thing done on the Leased Property during the Lease Term requested by the Town, or from any condition of the Leased Property caused by the Town. This duty to reimburse the Trustee’s legal expenses is not an indemnification and it is expressly understood that the Town is not indemnifying the Trustee and, as previously stated, is limited to Net Proceeds and moneys, if any, in excess of such Net Proceeds, for which an Appropriation has been effected. Section 11.8 Access to the Leased Property; Rights to Inspect Books. The Town agrees that the Trustee shall have the right at all reasonable times to examine and inspect the Leased Property (subject to such reasonable regulations as may be imposed by the Town for security purposes) and all of the Town’s books and records with respect thereto, but the Trustee has no duty to inspect the Leased Property books or records. The Town further agrees that the Trustee shall have such rights of access to the Leased Property as may be reasonably necessary to cause the proper maintenance of the Leased Property in the event of failure by the Town to perform its obligations under this Lease. The Indenture allows the Town to have the right at all reasonable times to examine and inspect all of the Trustee’s books and records with respect to the Leased Property and all funds and accounts held under the Indenture, until six years following the discharge of the Indenture. The Town and its representatives shall have the right to examine and inspect the books and records of the Trustee relating to the Leased Property at all reasonable times from the date of this Lease and until three years after the termination date of this Lease. 273 33 Section 11.9 Environmental Matters. If the Trustee has reason to believe of the existence of contamination on the Leased Property or other environmental hazards on the Leased Property, the Trustee has the right to take no further action and, in such event no fiduciary duty exists which imposes any obligation for further action with respect to the Leased Property or any portion thereof if the Trustee, in its individual capacity, determines that any such action would materially and adversely subject the Trustee to environmental or other liability for which the Trustee has not been adequately indemnified. 274 34 ARTICLE 12 PURCHASE OPTION Section 12.1 Purchase Option. The Town shall have the option to purchase the Trustee’s leasehold interest in the Leased Property, but only if an Event of Lease Default or an Event of Nonappropriation has not occurred and is then continuing. The Town may exercise its option on any date by complying with one of the conditions set forth in Section 12.2. The Town shall give the Trustee notice of its intention to exercise its option not less than 45 days in advance of the date of exercise and shall deposit the required moneys with the Trustee on or before the date selected to pay the Purchase Option Price. The Trustee may waive such notice or may agree to a shorter notice period in the sole determination of the Trustee. If the Town shall have given notice to the Trustee of its intention to purchase the Trustee’s leasehold interest in the Leased Property or prepay Base Rentals, but shall not have deposited the amounts with the Trustee on the date specified in such notice, the Town shall continue to pay Base Rentals, which have been specifically appropriated by the Town for such purpose, as if no such notice had been given. Section 12.2 Conditions for Purchase Option. The Trustee shall transfer and release the Trustee’s leasehold interests in the Leased Property to the Town in the manner provided for in Section 12.3 hereof; provided, however, that prior to such transfer and release, either: (a)The Town shall have paid the then applicable Purchase Option Price which shall equal the sum of the amount necessary to defease and discharge the Indenture as provided therein (i.e., provision for payment of all principal and interest portions of any and all Certificates which may have been executed and delivered pursuant to the Indenture shall have been made in accordance with the terms of the Indenture) plus any fees and expenses then owing to the Trustee; or (b)The Town shall have paid all Base Rentals set forth in Exhibit C (Base Rentals Schedule) hereto, for the entire maximum Lease Term, and all then current Additional Rentals required to be paid hereunder. At the Town’s option, amounts then on deposit in any fund held under the Indenture (except the Rebate Fund and excluding any defeasance escrow funds which are established with the written consent of the Trustee) may be credited toward the Purchase Option Price. Section 12.3 Manner of Conveyance. At the closing of the purchase or other conveyance of all of the Trustee’s leasehold interest in the Leased Property pursuant to Section 12.2 hereof, the Trustee shall release and terminate the Site Lease, this Lease and the Indenture and execute and deliver to the Town any necessary documents releasing, assigning, transferring and conveying the Trustee’s leasehold interest in the Leased Property (in the same manner by which Trustee took title), as they then exist, subject only to the following: (a)Permitted Encumbrances, other than the Site Lease, this Lease and the Indenture; 275 35 (b)All liens, encumbrances and restrictions created or suffered to exist by the Trustee as required or permitted by the Site Lease, this Lease or the Indenture or arising as a result of any action taken or omitted to be taken by the Trustee as required or permitted by the Site Lease, this Lease or the Indenture; (c)any lien or encumbrance created or suffered to exist by action of the Town; and (d)those liens and encumbrances (if any) to which title to the Leased Property was subject when leased to the Trustee. Section 12.4 Release of Portions of the Leased Property. When the principal component of Base Rentals paid by the Town, plus the principal amount of any Certificates redeemed through optional redemption, or the total principal amount of Certificates paid or deemed to be paid pursuant to Article VI of the Indenture, equals the amount set forth in Exhibit E hereto, the cost of the corresponding portion of the Leased Property set forth in Exhibit E (or of any property substituted for such portion of the Leased Property pursuant to any provision of this Lease) shall be deemed to have been fully amortized and the Trustee shall execute and deliver to the Town all documents necessary to release such portion of the Leased Property from the provisions of the Site Lease and this Lease (or any property substituted for such portion of the Leased Property pursuant to any provision of this Lease); provided, however, that the insured replacement value of the remaining Leased Property shall be at least equal to 100% of the aggregate principal amount of the Certificates Outstanding at the time of such release, as certified in writing by the Town Representative. Upon such release of a portion of the Leased Property, the Trustee shall execute and deliver to the Town all documents necessary or appropriate to convey the Trustee’s leasehold interest in such portion of the Leased Property to the Town, free of all restrictions and encumbrances imposed or created by this Lease, the Site Lease or the Indenture, in substantially the manner provided in Section 12.3 hereof. After such release and conveyance, the property so released and conveyed shall no longer be a part of the Leased Property for any purpose of this Lease, the Site Lease or the Indenture. The Trustee shall fully cooperate with the Town in executing, delivering and recording, at the Town’s expense, such documents as may be necessary to effectuate the provisions of this Section. 276 36 ARTICLE 13 ASSIGNMENT AND SUBLEASING Section 13.1 Assignment by the Trustee; Replacement of the Trustee. Except as otherwise provided in this Lease and the Indenture, this Lease may not be assigned by the Trustee for any reason other than to a successor by operation of law or to a successor trustee under the Indenture or with the prior written consent of the Town which consent shall not be unreasonably withheld. The Trustee will notify the Town of any assignment to a successor by operation of law. If an Event of Lease Default or Event of Nonappropriation has occurred and is continuing, the Trustee may act as herein provided, including exercising the remedies set forth in Section 14.2 hereof without the prior written direction of the Town. Section 13.2 Assignment and Subleasing by the Town. This Lease may not be assigned by the Town for any reason other than to a successor by operation of law. However, the Leased Property may be subleased, as a whole or in part, by the Town, without the necessity of obtaining the consent of the Trustee or any owner of the Certificates subject to each of the following conditions: (a)The Leased Property may be subleased, in whole or in part, only to an agency or department of, or a political subdivision of, the State, or to another entity or entities with Approval of Special Counsel, or to persons who will occupy a portion of the Leased Property as their residence; (b)The Town shall furnish or cause to be furnished to the Trustee a copy of any sublease agreement; (c)Except for subleases to persons who will occupy a portion of the Leased Property as their residence, any sublease of the Leased Property shall provide that it shall automatically terminate upon a termination of this Lease; (d)This Lease, and the obligations of the Town hereunder, shall, at all times during the Lease Term remain obligations of the Town, and the Town shall maintain its direct relationships with the Trustee, notwithstanding any sublease; and (e)No sublease by the Town shall cause the Leased Property to be used for any purpose which would cause the Town to violate its tax covenant in Section 11.5 hereof. All subleases shall provide that, upon a termination of the Lease Term by reason of the occurrence of an Event of Nonappropriation or an Event of Lease Default, and upon written notice by the Trustee to the party or parties to the subleases that any of such events has occurred such contracts shall be fully and freely assignable to the Trustee, without the consent of any other. Upon the occurrence of an Event of Nonappropriation or an Event of Lease Default, and upon receipt of a written request from the Trustee, the Town shall cooperate with the Trustee to effectuate the assignment of all of its right, title and interest in and to all subleases to the Trustee. 277 37 ARTICLE 14 EVENTS OF LEASE DEFAULT AND REMEDIES Section 14.1 Events of Lease Default Defined. Any one of the following shall be Events of Lease Default under this Lease: (a)Failure by the Town to pay any Base Rentals or Additional Rentals, which have been specifically appropriated by the Town for such purpose, during the Initial Term or any Renewal Term, within five (5) Business Days of the date on which they are due; or (b)Subject to the provisions of Section 6.5 hereof, failure by the Town to vacate or surrender possession of the Leased Property by March 1 of any Renewal Term in respect of which an Event of Nonappropriation has occurred; or (c)Failure by the Town to observe and perform any covenant, condition or agreement on its part to be observed or performed hereunder, other than as referred to in (a) or (b), (and other than a failure to comply with Section 11.6 hereof) for a period of 30 days after written notice, specifying such failure and requesting that it be remedied shall be received by the Town from the Trustee, unless the Trustee shall agree in writing to an extension of such time prior to its expiration; provided that if the failure stated in the notice cannot be corrected within the applicable period, the Trustee shall not withhold its consent to an extension of such time if corrective action can be instituted by the Town within the applicable period and diligently pursued until the default is corrected; or (d)Failure by the Town to comply with the terms of the Site Lease. The foregoing provisions of this Section 14.1 are subject to the following limitations: (i)The Town shall be obligated to pay the Base Rentals and Additional Rentals, which have been specifically appropriated by the Town for such purpose, only during the then current Lease Term, except as otherwise expressly provided in this Lease; and (ii)If, by reason of Force Majeure, the Town or the Trustee shall be unable in whole or in part to carry out any agreement on their respective parts herein contained other than the Town’s agreement to pay the Base Rentals and Additional Rentals due hereunder, the Town or the Trustee shall not be deemed in default during the continuance of such inability. The Town and the Trustee each agree, however, to remedy, as promptly as legally and reasonably possible, the cause or causes preventing the Town or the Trustee from carrying out their respective agreements; provided that the settlement of strikes, lockouts and other industrial disturbances shall be entirely within the discretion of the Town. Section 14.2 Remedies on Default. Whenever any Event of Lease Default shall have happened and be continuing beyond any applicable cure period, the Trustee may, or shall at the request of the owners of a majority in aggregate principal amount of the Certificates then Outstanding and upon indemnification as to costs and expenses as provided in the Indenture, without any further demand or notice, take one or any combination of the following remedial steps: 278 38 (a)Terminate the Lease Term and give notice to the Town to vacate and surrender possession of the Leased Property, which vacation and surrender the Town agrees to complete within 60 days from the date of such notice; provided, in the event the Town does not vacate and surrender possession on the termination date, the provisions of Section 6.5 hereof shall apply; (b)Lease or sublease the Leased Property or sell or assign any interest the Trustee has in the Leased Property, including the Trustee’s leasehold interest in the Leased Property; (c)Recover from the Town: (i)The portion of Base Rentals and Additional Rentals, for which a specific Appropriation has been effected by the Town for such purpose, which would otherwise have been payable hereunder, during any period in which the Town continues to occupy, use or possess the Leased Property; and (ii)Base Rentals and Additional Rentals, for which a specific Appropriation has been effected by the Town for such purpose, which would otherwise have been payable by the Town hereunder during the remainder, after the Town vacates and surrenders possession of the Leased Property, of the Fiscal Year in which such Event of Lease Default occurs; or (d)Take whatever action at law or in equity may appear necessary or desirable to enforce its rights in and to the Leased Property under the Site Lease, this Lease and the Indenture. Upon the occurrence of an Event of Nonappropriation, the Trustee shall be entitled to recover from the Town the amounts set forth in Section 14.2(c)(i) hereof if the Town continues to occupy the Leased Property after December 31 of the Fiscal Year in which such Event of Nonappropriation occurs. The Trustee shall also be entitled, upon any Event of Lease Default, to any moneys in any funds or accounts created under the Indenture (except the Rebate Fund or any defeasance escrow accounts). Section 14.3 Limitations on Remedies. The remedies in connection with an Event of Lease Default shall be limited as set forth in this Section. A judgment requiring a payment of money may be entered against the Town by reason of an Event of Lease Default only as to the Town’s liabilities described in paragraph (c) of Section 14.2 hereof. A judgment requiring a payment of money may be entered against the Town by reason of an Event of Nonappropriation only to the extent that the Town fails to vacate and surrender possession of the Leased Property as required by Section 6.4 hereof, and only as to the liabilities described in paragraph (c)(i) of Section 14.2 hereof. The remedy described in paragraph (c)(ii) of Section 14.2 hereof is not available for an Event of Lease Default consisting of failure by the Town to vacate and surrender possession of the Leased Property by March 1 following an Event of Nonappropriation. 279 39 Section 14.4 No Remedy Exclusive. Subject to Section 14.3 hereof, no remedy herein conferred upon or reserved to the Trustee, is intended to be exclusive, and every such remedy shall be cumulative and shall be in addition to every other remedy given hereunder or now or hereafter existing at law or in equity. No delay or omission to exercise any right or power accruing upon any default shall impair any such right or power or shall be construed to be a waiver thereof, but any such right and power may be exercised from time to time and as often as may be deemed expedient. In order to entitle the Trustee to exercise any remedy reserved in this Article 14, it shall not be necessary to give any notice, other than such notice as may be required in this Article 14. Section 14.5 Waivers. The Trustee may waive any Event of Lease Default under this Lease and its consequences. In the event that any agreement contained herein should be breached by either party and thereafter waived by the other party, such waiver shall be limited to the particular breach so waived and shall not be deemed to waive any other breach hereunder. Payment of Base Rentals or Additional Rentals by the Town shall not constitute a waiver of any breach or default by the Trustee hereunder. Section 14.6 Waiver of Appraisement, Valuation, Stay, Extension and Redemption Laws. To the extent permitted by law, in the case of an Event of Nonappropriation or an Event of Lease Default neither the Town nor any one claiming through or under the Town shall or will set up, claim or seek to take advantage of any appraisement, valuation, stay, extension or redemption laws now or hereafter in force in order to prevent or hinder the enforcement of the Indenture; and the Trustee and the Town, for themselves and all who may at any time claim through or under it, hereby waives, to the full extent that it may lawfully do so, the benefit of all such laws. Notwithstanding the foregoing, it is expressly understood that the Town cannot and does not hereby waive its right to set up, claim or seek to take advantage of its police powers or its right of eminent domain. 280 40 ARTICLE 15 MISCELLANEOUS Section 15.1 Sovereign Powers of Town. Nothing in this Lease shall be construed as diminishing, delegating, or otherwise restricting any of the sovereign powers or immunities of the Town. Nothing in this Lease shall be construed to require the Town to occupy and operate the Leased Property other than as lessee, or to require the Town to exercise its right to purchase the Leased Property as provided in Article 12 hereof. Section 15.2 Notices. All notices, certificates or other communications to be given hereunder shall be sufficiently given and shall be deemed given when delivered or mailed by certified or registered mail, postage prepaid, addressed as follows: If to the Trustee: U.S. Bank Trust Company, National Association 950 17th Street Denver, CO 80202 Attention: Global Corporate Trust Email: jennifer.petruno@usbank.com Phone: 303-585-4591 If to the Town: Town of Vail, Colorado 75 S. Frontage Road Vail, CO 81657 Attention: Carlie Smith, Finance Director Email: Csmith@vailgov.com Phone: 970-479-2119 The Town and the Trustee may, by written notice, designate any further or different addresses to which subsequent notices, certificates or other communications shall be sent. Section 15.3 Third Party Beneficiaries. It is expressly understood and agreed that the Owners of the outstanding Certificates are third party beneficiaries to this Lease and enforcement of the terms and conditions of this Lease, and all rights of action relating to such enforcement, shall be strictly reserved to the Town, as lessee and the Trustee, as lessor, and their respective successors and assigns, and to the Owners of the Certificates. Except as hereinafter provided, nothing contained in this Lease shall give or allow any such claim or right of action by any other or third person on this Lease. It is the express intention of the Town and the Trustee that any person other than the Town, the Trustee, or the Owners of the Certificates receiving services or benefits under this Lease shall be deemed to be an incidental beneficiary only. Section 15.4 Binding Effect. This Lease shall inure to the benefit of and shall be binding upon the Trustee and the Town and their respective successors and assigns, subject, however, to the limitations contained in Article 13 hereof. 281 41 Section 15.5 Amendments. This Lease may only be amended, changed, modified or altered as provided in the Indenture. Section 15.6 Amounts Remaining in Funds. It is agreed by the parties hereto that any amounts remaining in the Base Rentals Fund, the Costs of Execution and Delivery Fund, or any other fund or account created under the Indenture (except the Rebate Fund or any defeasance escrow account which are established with the written consent of the Trustee), upon termination of the Lease Term, and after payment in full of the Certificates (or provision for payment thereof having been made in accordance with the provisions of this Lease and the Indenture) and fees and expenses of the Trustee in accordance with this Lease and the Indenture, shall belong to and be paid to the Town by the Trustee, as an overpayment of Base Rentals. Section 15.7 Triple Net Lease. This Lease shall be deemed and construed to be a “triple net lease” and, subject to the prior Appropriation requirements hereof, the Town shall pay absolutely net during the Lease Term, the Base Rentals, the Additional Rentals and all expenses of, or other payments in respect of, the Leased Property as required to be paid by the Town under this Lease, for which a specific Appropriation has been effected by the Town for such purpose, free of any deductions, and without abatement, deduction or setoff (other than credits against Base Rentals expressly provided for in this Lease). Section 15.8 Computation of Time. In computing a period of days, the first day is excluded and the last day is included. If the last day of any period is not a Business Day, the period is extended to include the next day which is a Business Day. If a number of months is to be computed by counting the months from a particular day, the period ends on the same numerical day in the concluding month as the day of the month from which the computation is begun, unless there are not that many days in the concluding month, in which case the period ends on the last day of that month. Notwithstanding the foregoing, Base Rentals shall be recalculated in the event of any Prepayment of Base Rentals as provided in Section 6.2(b) hereof. Section 15.9 Payments Due on Holidays. If the date for making any payment or the last day for performance of any act or the exercising of any right, as provided in this Lease, shall be a day other than a Business Day, such payment may be made or act performed or right exercised on the next succeeding Business Day, with the same force and effect as if done on the nominal date provided in this Lease. Section 15.10 Severability. Except for the requirement of the Town to pay Base Rentals for which a specific Appropriation has been effected by the Town for such purpose and the requirement of the Trustee to provide quiet enjoyment of the Leased Property and to convey the Trustee’s leasehold interest in the Leased Property to the Town under the conditions set forth in Article 12 hereof (which, if held invalid or unenforceable by any court of competent jurisdiction, may have the effect of invalidating or rendering unenforceable the other provisions of this Lease), in the event that any other provision of this Lease shall be held invalid or unenforceable by any court of competent jurisdiction, such holding shall not invalidate or render unenforceable any other provision hereof. 282 42 Section 15.11 Execution in Counterparts. This Lease may be simultaneously executed in several counterparts, each of which shall be an original and all of which shall constitute but one and the same instrument. Section 15.12 Applicable Law. This Lease shall be governed by and construed in accordance with the law of the State of Colorado without regard to choice of law analysis. Section 15.13 The Trustee is Independent of the Town. Neither the Trustee nor any agent or employee of the Trustee shall be or shall be deemed to be an agent or employee of the Town. The Trustee acknowledges that the Trustee and its employees are not entitled to unemployment insurance benefits of the Town unless the Trustee or a third party otherwise provides such coverage and that the Town does not pay for or otherwise provide such coverage. The Trustee shall have no authorization, express or implied, to bind the Town to any agreements, liability or understanding except as expressly set forth herein. Section 15.14 Governmental Immunity. Notwithstanding any other provisions of this Lease to the contrary, no term or condition of this Lease shall be construed or interpreted as a waiver, express or implied, of any of the immunities, rights, benefits, protections or other provisions of the Colorado Governmental Immunity Act, C.R.S. § 24-10-101, et seq., as amended. Section 15.15 Recitals. The Recitals set forth in this Lease are hereby incorporated by this reference and made a part of this Lease. Section 15.16 Captions. The captions or headings herein are for convenience only and in no way define, limit or describe the scope or intent of any provisions or Sections of this Lease. Section 15.17 Trustee’s Disclaimer. It is expressly understood and agreed that (a) the Lease is executed by U.S. Bank Trust Company, National Association, solely in its capacity as Trustee under the Indenture, and (b) nothing herein shall be construed as creating any liability on U.S. Bank Trust Company, National Association, other than in its capacity as Trustee under the Indenture. All financial obligations of the Trustee under this Lease, except those resulting from its willful misconduct or negligence, are limited to the Trust Estate. The Trustee shall not be accountable for the use of the proceeds from the Certificates, and it shall not be responsible for any statement of the Town in this Lease, the Certificates, or any document issued in connection therewith. The Trustee makes no representations with respect to the effectiveness or adequacy of this Lease or the Certificates. Section 15.18 Electronic Transactions. The parties hereto agree that the transactions described herein may be conducted and related documents may be stored by electronic means. Copies, telecopies, facsimiles, electronic files and other reproductions of original executed documents shall be deemed to be authentic and valid counterparts of such original documents for all purposes, including the filing of any claim, action or suit in the appropriate court of law. Without limiting the foregoing, the parties hereto agree that any individual or individuals who are authorized to execute or consent to this Indenture on behalf of the Town, the Trustee or any Owner are hereby authorized to execute this the same electronically via facsimile or email signature. This agreement to use electronic signatures is made pursuant to Article 71.3 of Title 24, C.R.S., also known as the Uniform Electronic Transactions Act. Any electronic signature so 283 43 affixed to this Indenture or any supplement or consent relating thereto shall carry the full legal force and effect of any original, handwritten signature. [THE REMAINDER OF THIS PAGE IS INTENTIONALLY BLANK] 284 44 IN WITNESS WHEREOF, the parties have executed this Lease Purchase Agreement as of the day and year first above written. TOWN OF VAIL, COLORADO, as Lessee By: Travis Coggin, Mayor U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, solely in its capacity of Trustee under the Indenture, as Lessor By: Jennifer Petruno, Vice President (SEAL) Attest: By: Stephanie Johnson, Town Clerk 285 45 STATE OF COLORADO ) ) COUNTY OF EAGLE ) ss. ) TOWN OF VAIL ) The foregoing instrument was acknowledged before me this _____ day of [____], 2025, by Travis Coggin and Stephanie Kauffman, as Mayor and Town Clerk, respectively, of the Town of Vail, Colorado. WITNESS my hand and official seal. Notary Public (SEAL) * * * * * * * * * * * * * * * * * * STATE OF COLORADO ) ) ss. CITY AND COUNTY OF DENVER ) The foregoing instrument was acknowledged before me this _____ day of [_____], 2025, by Jennifer Petruno, as Vice President of U.S. Bank Trust Company, National Association, as Trustee. WITNESS my hand and official seal. Notary Public (SEAL) 286 A-1 EXHIBIT A DESCRIPTION OF LEASED PROPERTY The Leased Property consists of the real property and the buildings and improvements located thereon as set forth below, as amended from time to time. [ADD LEGAL DESCRIPTION] 287 B-1 EXHIBIT B PERMITTED ENCUMBRANCES Permitted Encumbrances and the following: 1)Liens for ad valorem taxes and special assessments not then delinquent, if applicable. 2)The Site Lease. 3)This Lease. 4)All other encumbrances appearing of record on the date hereof. 288 C-1 EXHIBIT C BASE RENTALS SCHEDULE Period Ending Base Rentals Principal Component Base Rentals Interest Component Total Base Rentals 289 C-2 Period Ending Base Rentals Principal Component Base Rentals Interest Component Total Base Rentals Base Rental payments are due on May 15 and November 15 of each year during the Lease Term. The Base Rentals have been calculated on the basis of a 360-day year of twelve 30-day months and any recalculation of Base Rentals under Section 6.2(b) hereof shall be done on the same basis. If Base Rentals are stated to be due on any date that is not a Business Day, such Base Rentals shall be due on the next day that is a Business Day without the accrual of interest on Base Rentals between such dates. Statement Regarding the Leased Property The duration of the Lease, throughout the maximum Lease Term, does not exceed the weighted average useful life of the Leased Property and, to the extent that the Leased Property constitutes items of personal property, such items are considered paid from the first Base Rentalsdescribed above. 290 D-1 EXHIBIT D FORM OF NOTICE OF LEASE RENEWAL To:U.S. Bank Trust Company, National Association, as Trustee The undersigned is the Town Representative of the Town of Vail, Colorado (the “Town”). The Town is the lessee under that certain Lease Purchase Agreement, dated as of [CLOSING DATE], 2025 (the “Lease”), between the Town and U.S. Bank Trust Company, National Association, solely in its capacity of Trustee under the Indenture, as the lessor thereunder. I am familiar with the facts herein certified and am authorized and qualified to certify the same. The undersigned hereby states and certifies: (a)The Town has effected or intends to effect on a timely basis an Appropriation for the ensuing Fiscal Year which includes (1) sufficient amounts authorized and directed to be used to pay all the Base Rentals and (2) sufficient amounts to pay such Additional Rentals as are estimated to become due, all as further provided in Sections 6.2, 6.3 and 6.4 of the Lease, whereupon, the Lease shall be renewed for the ensuing Fiscal Year; Initial or (b)The Town has determined not to renew the Lease for the ensuing Fiscal Year. Initial TOWN OF VAIL, COLORADO By: Town Representative 291 E-1 EXHIBIT E RELEASE AND AMORTIZATION SCHEDULE TOTAL AMOUNTS OF BASE RENTALS PRINCIPAL PAYMENTS AND OPTIONAL PRIOR REDEMPTIONS WHICH MUST BE MADE OR OF CERTIFICATES WHICH MUST BE PAID OR DEFEASED, TO RELEASE (1) PORTION OF THE LEASED PROPERTY TO BE RELEASED ________________ (1)Pursuant to Section 12.4 hereof, when the principal component of Base Rentals paid by the Town, plus the principal amount of Certificates redeemed through optional redemption, or the total principal amount of Certificates paid or deemed to be paid, totals the amount set forth in this column, the corresponding portion of the Leased Property will be deemed amortized and shall be released from the lien of the Site Lease, this Lease and the Indenture, provided, however, that the insured replacement value of the remaining Leased Property shall be at least equal to 100% of the aggregate principal amount of the Certificates Outstanding at the time of such release, as certified in writing by the Town Representative. 292 AFTER RECORDATION PLEASE RETURN TO: Butler Snow LLP 1801 California Street, Suite 5100 Denver, Colorado 80202 Attention: Kimberley Crawford, Esq. Pursuant to C.R.S. § 39-13-104(1)(j),, this Site Lease Agreement is exempt from the documentary fee. SITE LEASE AGREEMENT DATED AS OF [_____],2025 BETWEEN TOWN OF VAIL,COLORADO, AS LESSOR AND U.S. BANK TRUST COMPANY,NATIONAL ASSOCIATION, SOLELY IN ITS CAPACITY AS TRUSTEE UNDER THE INDENTURE, AS LESSEE 293 This SITE LEASE AGREEMENT, dated as of [_____], 2025(this “Site Lease”), is by and between the Town of Vail, Colorado, a home rule municipality duly organized and validly existing under the Colorado Constitution and the Town of Vail Home Rule Charter (the “Town”), as lessor, and U.S. Bank Trust Company, National Association, Denver, Colorado, a national banking association duly organized and validly existing under the laws of the United States of America, solely in its capacity as trustee under the Indenture (the “Trustee”), as lessee. PREFACE Unless the context otherwise requires, capitalized terms used herein shall have the meanings ascribed to them herein and in the Lease Purchase Agreement, dated as of [_____], 2025 (the “Lease”), between the Trustee, and the Town. RECITALS 1.The Town is a duly organized and existing home rule municipality of the State of Colorado, created and operating pursuant to Article XX of the Constitution of the State of Colorado and the home rule charter of the Town (the “Charter”). 2.Pursuant to Article XX, Section 6 of the Colorado Constitution and Section 13.3 of the Charter, the Town is authorized to lease, for such term as the Council determines, any real or personal property to or from any person, firm or corporation, public or private, governmental or otherwise. 3.Because the demand for workforce housing in the Town exceeds the supply, the Council hereby determines that it is in the public interest and is a public purpose for the Town to assist Vail Home Partners Corporation (the “Corporation”) to finance the acquisition, construction, installation, equipping of a portion of the West Middle Creek housing development, a for-rent workforce housing development (the “Development”), including any legally permitted costs and expenditures in connection therewith, all for public purposes, and as authorized by law, by advancing a loan to the Corporation (the “Project”). 4.The Town owns, in fee title, various properties and facilities as defined and more particularly described in Exhibit A attached hereto and collectively referred to herein as the “Leased Property”). 5.To accomplish the Project, the Council has determined that it is in the best interests of the Town and its inhabitants that the Town lease the Leased Property pursuant to this Site Lease to the Trustee and lease back the Trustee’s interest in the Leased Property pursuant to the terms of a Lease Purchase Agreement (the “Lease”) between the Trustee, as lessor, and the Town, as lessee. 6.Contemporaneously with the execution and delivery of this Site Lease and the Lease, the Trustee will execute and deliver an Indenture of Trust (the “Indenture”) pursuant to which there will be executed and delivered certain certificates of participation (the “Certificates”) dated as of their date of delivery that will evidence proportionate interests in the right to receive certain, will be payable solely from the sources therein provided, and will not directly or indirectly obligate the Town to make any payments beyond those appropriated for any fiscal year during which the Lease shall be in effect. 7.The proceeds of the Certificates will be utilized for the Project, as well as for the payment of the costs of execution and delivery of the Certificates. 294 2 8.The Trustee and the Town intend that this Site Lease set forth their entire understanding and agreement regarding the terms and conditions upon which the Trustee is leasing the Leased Property from the Town. 9.The Town is entering into this Site Lease with the Trustee as material consideration for the Trustee’s agreement to lease the Leased Property to the Town pursuant to the Lease. The Trustee will prepay in full its rental payments due under this Site Lease which rental payments shall be used by the Town to effect the Project, all pursuant to this Site Lease, the Lease and the Indenture. NOW, THEREFORE, for and in consideration of the mutual promises and covenants herein contained, the parties hereto agree as follows: Section 1.Site Lease and Terms. The Town hereby demises and leases to the Trustee and the Trustee hereby leases from the Town, on the terms and conditions hereinafter set forth, the Leased Property, subject to Permitted Encumbrances as described in Exhibit B hereto. The term of this Site Lease shall commence on the date hereof and shall end on December 31, 20[__] (the “Site Lease Termination Date”), unless sooner terminated as hereinafter provided. If, prior to the Site Lease Termination Date, the Trustee has transferred and conveyed the Trustee’s leasehold interest in all of the Leased Property pursuant to Article 12 of the Lease as a result of the Town’s payment of (a) the applicable Purchase Option Price thereunder; or (b) all Base Rentals and Additional Rentals, all as further provided in Section 12.2 of the Lease, then the term of this Site Lease shall end in connection with such transfer and conveyance. The term of any sublease of the Leased Property or any portion thereof, or any assignment of the Trustee’s interest in this Site Lease, pursuant to Section 5 hereof, the Lease and the Indenture, shall not extend beyond December 31, 20[__]. At the end of the term of this Site Lease, all right, title and interest of the Trustee, or any sublessee or assignee, in and to the Leased Property, shall terminate. Upon such termination, the Trustee and any sublessee or assignee shall execute and deliver to the Town any necessary documents releasing, assigning, transferring and conveying the Trustee’s, sublessee’s or assignee’s respective interests in the Leased Property. Section 2.Rental. The Trustee has paid to the Town from the proceeds of the sale of the Certificate, and the Town hereby acknowledges receipt from the Trustee as and for rental hereunder, paid in advance, the sum of $[_____], as and for all rent due hereunder, and other good and valuable consideration, the receipt and the sufficiency of which are hereby acknowledged. The Council has determined that such amount is reasonable consideration for the leasing of the Leased Property to the Trustee for the term of this Site Lease. Section 3.Purpose. The Trustee shall use the Leased Property solely for the purpose of leasing the Leased Property back to the Town pursuant to the Lease and for such purposes as may be incidental thereto; provided, that upon the occurrence of an Event of Nonappropriation or an Event of Lease Default and the termination of the Lease, the Town shall vacate the Leased Property, as provided in the Lease, and the Trustee may exercise the remedies provided in this Site Lease, the Lease and the Indenture. Section 4.Owner in Fee. The Town represents that (a) it is the owner in fee of the Leased Property, subject only to Permitted Encumbrances as described in Exhibit B hereto, and (b) the Permitted Encumbrances do not and shall not interfere in any material way with the Leased Property. The Trustee acknowledges that it is only obtaining a leasehold interest in the Leased Property and pursuant to this Site Lease. 295 3 Section 5.Sales, Assignments and Subleases. Unless an Event of Nonappropriation or an Event of Lease Default has occurred and except as may otherwise be provided in the Lease, the Trustee may not sell or assign its rights and interests under this Site Lease or sublet all or any portion of the Leased Property, without the written consent of the Town. In the event that (a) the Lease is terminated for any reason and (b) this Site Lease is not terminated, the Trustee may sublease the Leased Property or any portion thereof, or sell or assign the Trustee’s leasehold interests in this Site Lease, pursuant to the terms of the Lease and the Indenture, and any purchasers from or sublessees or assignees of the Trustee may sell or assign its respective interests in the Leased Property, subject to the terms of this Site Lease, the Lease and the Indenture. The Town and the Trustee (or any purchasers from or assignees or sublessees of the Trustee) agree that, except as permitted by this Site Lease, the Lease and the Indenture and except for Permitted Encumbrances (including purchase options under the Lease), neither the Town, the Trustee, nor any purchasers from or sublessees or assignees of the Trustee will sell, mortgage or encumber the Leased Property or any portion thereof during the term of this Site Lease. The Trustee and any other person who has the right to use the Leased Property under this Site Lease, at its own expense, may install equipment and other personal property in or on any portion of the Leased Property unless it is permanently affixed to the Leased Property or removal of it would materially damage the Leased Property, in which case it will become part of the Leased Property. Section 6.Right of Entry. To the extent that the Lease is terminated and this Site Lease is still in effect, the Town reserves the right for any of its duly authorized representatives to enter upon the Leased Property at any reasonable time, upon at least one Business Day prior written notice to Trustee, to inspect the same or to make any repairs, improvements or changes necessary for the preservation thereof. Section 7.Termination. The Trustee agrees, upon the termination of this Site Lease, to quit and surrender all of the Leased Property, and agrees that any permanent improvements and structures existing upon the Leased Property at the time of the termination of this Site Lease shall remain thereon. Section 8.Default. In the event the Trustee is in default in the performance of any obligation on its part to be performed under the terms of this Site Lease, which default continues for 30 days following written notice and demand for correction thereof to the Trustee, the Town may exercise any and all remedies granted by law, except that no merger of this Site Lease and of the Lease shall be deemed to occur as a result thereof and that so long as any Certificates are Outstanding and unpaid under the Indenture, the Base Rentals due under the Lease shall continue to be paid to the Trustee except as otherwise provided in the Lease. In addition, so long as any of the Certificates are Outstanding, this Site Lease shall not be terminated except as described in Section 1 hereof. Section 9.Quiet Enjoyment and Acknowledgment of Ownership. The Trustee at all times during the term of this Site Lease shall peaceably and quietly have, hold and enjoy the Leased Property, subject to the provisions of the Lease and the Indenture, and the Town hereby acknowledges that the Trustee will have a leasehold interest in all improvements or additions to be built on the Leased Property subject to this Site Lease, the Lease and the Indenture. Section 10.Trustee’s Disclaimer. It is expressly understood and agreed that (a) this Site Lease is executed by U.S. Bank Trust Company, National Association, solely in its capacity as Trustee under the Indenture, and (b) nothing herein shall be construed as creating any liability on U.S. Bank Trust Company, National Association, other than in its capacity as Trustee under the Indenture. All financial obligations of the Trustee under this Site Lease, except those resulting from its willful misconduct or negligence, are limited to the Trust Estate. 296 4 Section 11.Taxes; Maintenance; Insurance. During the Lease Term and in accordance with the provisions of the Lease, including Sections 9.1 and 9.3 thereof, the Town covenants and agrees to pay any and all taxes, assessments or governmental charges due in respect of the Leased Property and all maintenance costs and utility charges in connection with the Leased Property. In the event that (a) the Lease is terminated for any reason, (b) this Site Lease is not terminated, and (c) the Trustee subleases all or any portion of the Leased Property or sells or assigns its interests in this Site Lease, the Trustee, or any purchaser, sublessee or assignee of the Leased Property (including the leasehold interests of the Trustee resulting from this Site Lease) shall pay or cause to be paid when due, all such taxes, assessments or governmental charges and maintain the Leased Property in good condition and working order. Any such payments that are to be made by the Trustee shall be made solely from (a) the proceeds of such sale, subleasing or assignment, (b) from the Trust Estate, or (c) from other moneys furnished to the Trustee under Section 8.02(m) of the Indenture, and in the absence of available moneys identified in the preceding clauses (a) through (c), the Trustee shall be under no obligation to pay or cause to be paid when due, all such taxes, assessments or governmental charges and maintain the Leased Property in good condition and working order. The provisions of the Lease shall govern with respect to the maintenance of insurance hereunder during the Lease Term of the Lease. In the event that (a) the Lease is terminated for any reason, and (b) this Site Lease is not terminated, the Trustee, or any sublessee, purchaser or assignee of the Leased Property shall obtain and keep in force, (i) commercial general liability insurance against claims for personal injury, death or damage to property of others occurring on or in the Leased Property in an amount not less than the limitations provided in the Colorado Governmental Immunity Act C.R.S. § 24-10-101, et seq., as amended, and (ii) property insurance in an amount not less than the full replacement value of the Leased Property. Any such insurance that is to be obtained by the Trustee shall be paid for solely from (a) the proceeds of such sale, subleasing or assignment, (b) from the Trust Estate, including without limitation moneys (includingany amounts under a Qualified Surety Bond) on deposit in the Reserve Fund, or (c) from other moneys furnished to the Trustee under Section 8.02(m) of the Indenture, and in the absence of available moneys identified in the preceding clauses (a) through (c), the Trustee shall be under no obligation to obtain or keep in force such insurance coverages. All such insurance shall name the Trustee, any sublessee, purchaser or assignee and the Town as insured. The Trustee shall be named loss payee. The Town and the Trustee shall waive any rights of subrogation with respect to the Trustee, any sublessee, purchaser or assignee, and the Town, and their members, directors, officers, agents and employees, while acting within the scope of their employment and each such insurance policy shall contain such a waiver of subrogation by the issuer of such policy. Nothing in this Site Lease shall be interpreted or construed to require the Trustee to sublease all or any portion of the Leased Property or sell or assign its interests in this Site Lease, in the event that the Lease is terminated for any reason and this Site Lease is not terminated. Section 12.Damage, Destruction or Condemnation. The provisions of the Lease shall govern with respect to any damage, destruction or condemnation of the Leased Property during the Lease Term. In the event that (a) the Lease is terminated for any reason and (b) this Site Lease is not terminated, and either (i) the Leased Property or any portion thereof is damaged or destroyed, in whole or in part, by fire or other casualty, or (ii) title to or use of the Leased Property or any part thereof shall be taken under the exercise of the power of eminent domain, the Town and the Trustee, or any sublessee, purchaser or assignee of the Leased Property from the Trustee shall cause the Net Proceeds of any insurance claim or condemnation award to be applied in accordance with the provisions of Article 10 of the Lease. Section 13.Hazardous Substances. Except for customary materials necessary for operation, cleaning and maintenance of the Leased Property, none of the Town, the Trustee or any sublessee, purchaser or assignee of the Leased Property from the Trustee shall cause or permit any Hazardous Substance to be 297 5 brought upon, generated at, stored or kept or used in or about the Leased Property without prior written notice to the Town and the Trustee and all Hazardous Substances, including customary materials necessary for construction, operation, cleaning and maintenance of the Leased Property, will be used, kept and stored in a manner that complies with all laws regulating any such Hazardous Substance so brought upon or used or kept on or about the Leased Property, provided unless the Trustee has exercised its right to take possession of the Leased Property after the occurrence and continuance of an Event of Lease Default, the Trustee shall have no responsibility under this Section to monitor or investigate whether the Leased Property complies with environmental laws or is subject to any Hazardous Substance. If the presence of Hazardous Substance on the Leased Property caused or permitted by the Town, the Trustee or any sublessee, purchaser or assignee of the Leased Property from the Trustee, as the case may be, results in contamination of the Leased Property, or if contamination of the Leased Property by Hazardous Substance otherwise occurs for which the Town, the Trustee or any sublessee or assignee of the Leased Property, as the case may be, is legally liable for damage resulting therefrom (provided that the Trustee shall have no liability under this Section unless it is in possession of the Leased Property and unless the presence of such Hazardous Substances is due to the Trustee’s gross negligence or willful misconduct), then the Town, the Trustee or any sublessee, purchaser or assignee of the Leased Property from the Trustee, as the case may be, shall reimburse the other party for its reasonable and necessary legal expenses to defend the parties hereto or assignees hereof that have not caused or permitted such contamination and are not so legally liable with respect to this Site Lease from claims for damages, penalties, fines, costs, liabilities or losses; provided that the cost of such defense, (a) in the case of the Trustee, shall be payable solely from the Trust Estate, or (b) in the case of the Town, shall be payable only if the cost of such defense has been annually appropriated by the Town. This duty to reimburse legal expenses is not an indemnification. It is expressly understood that none of the Town, the Trustee or any sublessee, purchaser or assignee is indemnifying any other person with respect to this Site Lease. Without limiting the foregoing, if the presence of any Hazardous Substance on the Leased Property caused or permitted by: (a)The Trustee after the Trustee has exercised its right to take possession of the Leased Property after the occurrence and continuance of an Event of Lease Default, or any sublessee, purchaser or assignee of the Leased Property from the Trustee, as the case may be, results in any contamination of the Leased Property, the Trustee or any sublessee, purchaser or assignee of the Leased Property from the Trustee, as the case may be, shall provide prior written notice to the Town and the Trustee and promptly take all actions, solely at the expense of the Trust Estate, and not at the expense of the Trustee, as are necessary to effect remediation of the contamination in accordance with legal requirements; or (b)The Town, results in any contamination of the Leased Property, the Town shall provide prior written notice to the Trustee and promptly take all actions, solely at the expense of the Town, which expenses shall constitute Additional Rentals, as are necessary to effect remediation of the contamination in accordance with legal requirements. Section 14.Third Party Beneficiaries. It is expressly understood and agreed that the Owners of the outstanding Certificates are third party beneficiaries to this Site Lease and enforcement of the terms and conditions of this Site Lease, and all rights of action relating to such enforcement, shall be strictly reserved to the Town and the Trustee, and their respective successors and assigns, and to the Owners of the Certificates. Except as hereinafter provided, nothing contained in this Site Lease shall give or allow any such claim or right of action by any other or third person on this Site Lease. It is the express intention of the Town and the Trustee that any person other than the Town, the Trustee or the Owners of the Certificates receiving services or benefits under this Site Lease shall be deemed to be an incidental beneficiary only. Section 15.Partial Invalidity. If any one or more of the terms, provisions, covenants or conditions of this Site Lease shall to any extent be declared invalid, unenforceable, void or voidable for any 298 6 reason whatsoever by a court of competent jurisdiction, the finding or order or decree of which becomes final, none of the remaining terms, provisions, covenants and conditions of this Site Lease shall be affected thereby, and each provision of this Site Lease shall be valid and enforceable to the fullest extent permitted by law. Section 16.No Merger. The Town and the Trustee intend that the legal doctrine of merger shall have no application to this Site Lease and that neither the execution and delivery of the Lease by the Trustee and the Town nor the exercise of any remedies under this Site Lease shall operate to terminate or extinguish this Site Lease, except as specifically provided herein and therein. Section 17.Amendments. This Site Lease may only be amended, changed, modified or altered as provided in the Indenture. Section 18.Notices. All notices, statements, demands, consents, approvals, authorizations, offers, designations, requests or other communications hereunder by either party to the other shall be in writing and shall be sufficiently given and served upon the other party if delivered personally or if mailed shall be made by United States registered mail, return receipt requested, postage prepaid, at the addresses indicated in the Lease, or to such other addresses as the respective parties may from time to time designate in writing, or in such other manner as authorized by the Town or the Trustee, as the case may be. Section 19.Recitals. The Recitals set forth in this Site Lease are hereby incorporated by reference and made a part of this Site Lease. Section 20.Section Headings. All section headings contained herein are for convenience of reference only and are not intended to define or limit the scope of any provision of this Site Lease. Section 21.Execution. This Site Lease may be executed in any number of counterparts, each of which shall be deemed to be an original but all together shall constitute but one and the same Site Lease. Section 22.Governing Law. This Site Lease shall be governed by and construed in accordance with the State of Colorado without regard to choice of law analysis. Section 23.No Waiver of Governmental Immunity. No provision of this Site Lease shall act or be deemed to be a waiver by the Town of the Colorado Governmental Immunity Act, C.R.S. § 24-10-101, et seq. Section 24.Electronic Transactions. The parties hereto agree that the transactions described herein may be conducted and related documents may be stored by electronic means. Copies, telecopies, facsimiles, electronic files and other reproductions of original executed documents shall be deemed to be authentic and valid counterparts of such original documents for all purposes, including the filing of any claim, action or suit in the appropriate court of law. Without limiting the foregoing, the parties agree that any individual or individuals who are authorized to execute or consent to this Indenture on behalf of the Town, the Trustee or any Owner are hereby authorized to execute this the same electronically via facsimile or email signature. This agreement by the parties to use electronic signatures is made pursuant to Article 71.3 of Title 24, C.R.S., also known as the Uniform Electronic Transactions Act. Any electronic signature so affixed to this Indenture or any supplement or consent relating thereto shall carry the full legal force and effect of any original, handwritten signature. 299 7 IN WITNESS WHEREOF, the Town and the Trustee have caused this Site Lease to be executed by their respective officers thereunto duly authorized, all as of the day and year first above written. TOWN OF VAIL, COLORADO, as Lessee By: Travis Coggin, Mayor U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, solely in its capacity of Trustee under the Indenture, as Lessor By: Jennifer Petruno, Vice President (SEAL) Attest: By: Stephanie Johnson, Deputy Town Clerk 300 8 STATE OF COLORADO ) ) COUNTY OF EAGLE ) ss. ) TOWN OF VAIL ) The foregoing instrument was acknowledged before me this _____ day of [____], 2025, by Travis Coggin and Stephanie Kauffman, as Mayor and Town Clerk, respectively, of the Town of Vail, Colorado. WITNESS my hand and official seal. Notary Public (SEAL) * * * * * * * * * * * * * * * * * * STATE OF COLORADO ) ) ss. CITY AND COUNTY OF DENVER ) The foregoing instrument was acknowledged before me this _____ day of [_____], 2025, by Jennifer Petruno, as Vice President of U.S. Bank Trust Company, National Association, as Trustee. WITNESS my hand and official seal. Notary Public (SEAL) 301 A-1 EXHIBIT A DESCRIPTION OF THE LEASED PROPERTY The Leased Property consists of the real property and the buildings and improvements located thereon as set forth below, as amended from time to time. [ADD LEGAL DESCRIPTION OF THE LEASED PROPERTIES] 302 B-1 EXHIBIT B PERMITTED ENCUMBRANCES “Permitted Encumbrances” means, as of any particular time: (a) liens for taxes and assessments not then delinquent, or liens which may remain unpaid pending contest pursuant to the provisions of the Lease; (b) this Site Lease, the Lease, the Indenture and any related fixture filing and any liens arising or granted pursuant to the Lease or the Indenture; (c) utility, access and other easements and rights of way, licenses, permits, party wall and other agreements, restrictions and exceptions which the Town Representative certifies will not materially interfere with or materially impair the Leased Property, including rights or privileges in the nature of easements, licenses, permits and agreements as provided in the Lease; and (d) the easements, covenants, restrictions, liens and encumbrances (if any) to which title to the Leased Property was subject when leased to the Trustee pursuant to this Site Lease, as shown below and which do not interfere in any material way with the Leased Property. The easements, covenants, restrictions, liens and encumbrances (if any) to which title to the Leased Property was subject when leased to the Trustee pursuant to this Site Lease are as follows: 1)Liens for ad valorem taxes and special assessments not then delinquent, if applicable. 2)This Site Lease. 3)The Lease. 4)All other encumbrances appearing of record on the date hereof. 303 AGENDA ITEM NO. 8.1 Item Cover Page DATE:March 18, 2025 TIME:5 min. SUBMITTED BY:Matt Gennett, Community Development ITEM TYPE:Action Items AGENDA SECTION:Public Hearings (8:05pm) SUBJECT:An Appeal, Pursuant to Section 12-3-3, Appeals and Call-Up, Vail Town Code, of the Final Decision of the Town of Vail Planning and Environmental Commission on January 13, 2025, Denying the Variance from Section 12-6D-8B, Gross Residential Floor Area, Vail Town Code, Pursuant to Title 12 Chapter 17, Variances, Vail Town Code to Allow for an Increase in the Allowable Gross Residential Floor Area (GRFA) within the Two-Family Primary/Secondary Zone District Located at 387 Beaver Dam Circle, Lot 1A, Block 4, Vail Village 3rd Filing (TC25-0002) (8:05pm) SUGGESTED ACTION:The Appellant requests Town Council grant a continuance of this hearing. PRESENTER(S):Heather Knight, Planner VAIL TOWN COUNCIL AGENDA ITEM REPORT ATTACHMENTS: Council Memo - 387 Beaver Dam Circle Appeal Attachment A. 387 Beaver Dam GRFA Variance Appeal Attachment B. PEC24-0048 Packet Attachment C. PEC Meeting Minutes Staff Presentation - TC25-0002 387 Beaver Dam Circle Applicant Presentation - 387 Beaver Dam Circle Letter to Town Council Requesting Continuance of Appeal 3-9-25 304 Town of Vail Page 1 03/10/2025 TO: Town Council FROM: Community Development Department DATE: March 18, 2025 SUBJECT: An appeal, pursuant to Section 12-3-3, Appeals and call-up, Vail Town Code, of the final decision of the Town of Vail Planning and Environmental Commission on January 13, 2025, denying a variance from Section 12-6D-8B, Gross Residential Floor Area, Vail Town Code, pursuant to Title 12 Chapter 17, Variances, Vail Town Code to allow for an increase in the allowable Gross Residential Floor Area (GRFA) within the Two-Family Primary/Secondary Zone District located at 387 Beaver Dam Circle, Lot 1A, Block 4, Vail Village 3rd Filing. (TC25-0001) Appellant: AB Global, Inc, represented by Mauriello Planning Group (MPG) Applicant: AB Global, Inc, represented by Mauriello Planning Group (MPG) Planner: Heather Knight I. SUBJECT PROPERTY The subject property is located at located at 387 Beaver Dam Circle, Lot 1A, Block 4, Vail Village 3rd Filing. II. VAIL TOWN COUNCIL JURISDICTION Pursuant to Section 12-3-3B Vail Town Code, the Town Council must hear and decide appeals from any decision, determination, or interpretation by the Planning and Environmental Commission with respect to the provisions of Title 12, Zoning Regulations, and Title 14, Development Standards, Vail Town Code. III. PROCEDURAL CRITERIA FOR APPEALS Pursuant to Sections 12-3-3B, Vail Town Code, there are three basic procedural criteria for an appeal: (1) Purpose. The purpose of this subsection B is to provide an avenue to appeal a final decision based on a belief that there was an error in a decision made under the relevant Title of the Town Code. (2) Applicability. This subsection (B) shall apply to final decisions made by the Planning 305 Town of Vail Page 2 03/10/2025 and Environmental Commission, Design Review Board, or Art in Public Places Board with respect to the provisions of the Town Code. (3) Standing. Only the following have standing to appeal: the affected applicant; an owner of real property that is adjacent to the property that is the subject of the application, or any adversely affected person. For purposes of this Section, adversely affected person means any person who will suffer an adverse effect to an interest protected by this Title, but only if the adverse effect exceeds in degree the effect on others in the general interest in community good shared by all persons. (4) Procedure. (a) A notice of appeal shall be filed within 20 days of the decision being appealed. The notice of appeal shall include all information required by the appeal application provided by the Department of Community Development and the applicable fee established by resolution of the Town Council. Failure to timely file a complete appeal shall constitute a waiver of the right to appeal. (b) Within 7 days of receipt of a complete notice of appeal, the Administrator shall determine whether the appellant has standing to appeal. If the Administrator finds that the appellant does not have standing, the Administrator shall notify the appellant, in writing, that the appeal has been dismissed. The dismissal is not subject to further appeal. (c) If the Administrator determines that the appellant has standing, the Administrator shall schedule a public hearing before the Town Council to occur within 60 days of such determination. (d) At least 15 days prior to the hearing, the Administrator shall send written notice of the date, time and place of the hearing to the last known addresses of the applicant, appellant and adjacent property owners by first class U.S. Mail. If adjacent property owners are in a planned community, notice shall be sufficient if mailed to the owners’ association. (e) All appeals shall be de novo, and the Town Council may consider any evidence it deems to be relevant. The burden shall be on the appellant to prove by a preponderance of the evidence that the decision was incorrect. The Town Council may adopt procedures for the public hearing, including without limitation time allowances for the presentation of evidence, argument and public comment, if any. (f) The Town Council shall review the appeal based on the applicable standards and criteria in the Town Code. The Town Council shall affirm, modify or overturn the decision, and shall issue written findings to support its decision. The Town Council may request that the Town Attorney draft such findings for adoption at a subsequent meeting, and the Town Council’s decision shall not be final until adoption of such findings. (5) Stay. The filing of a complete notice of appeal shall stay all permit activity and any proceedings related to the application being appealed or the property that is the subject of such application, unless the Administrator determines that a stay poses imminent peril to life or property. The stay shall continue until final resolution of the appeal. (6) Further review. The decision of the Town Council on any appeal is final, subject only to judicial review as allowed by law. 306 Town of Vail Page 3 03/10/2025 IV. SUMMARY The question to be answered by the Vail Town Council regarding this appeal is: Should the January 13, 2025, decision of the Planning and Environmental Commission be upheld? Pursuant to Section 12-3-3, Vail Town Code, the Vail Town Council must uphold, uphold with modifications, or overturn the Planning and Environmental Commission’s January 23, 2025, decision. V. BACKGROUND AB Global Inc, represented by Mauriello Planning Group requested a review of a variance from Section 12-6D-8B, Gross Residential Floor Area, Vail Town Code, pursuant to Title 12 Chapter 17, Variances, Vail Town Code to allow for an increase in the allowable Gross Residential Floor Area (GRFA) within the Two-Family Primary/Secondary Zone District located at 387 Beaver Dam Circle, Lot 1A, Block 4, Vail Village 3rd Filing (PEC24-0048). On January 13, 2025, the Planning and Environmental Commission held a public hearing on the Variance application and voted 6-1 to deny the application, finding that the application failed to meet required criteria in Chapter 12-17 (found in the staff memo on pages 13-14). VI. APPLICABLE DOCUMENTS The applicable Code section is Vail Town Code, Title 12, Section 12-17-6 Criteria and Findings of the Vail Town Code, as linked below. https://codelibrary.amlegal.com/codes/vailco/latest/vail_co/0-0-0-11916 VII. DISCUSSION ITEM Should the January 23, 2025, decision of the Planning and Environmental Commission be upheld? VIII. REQUIRED ACTION Pursuant to Section 12-3-3, Vail Town Code, the Vail Town Council must uphold, uphold with modifications, or overturn the Planning and Environmental Commission’s January 23, 2025, decision. The Town Council must act by motion, with such motion to be approved by a majority of those present. Should the Vail Town Council choose to uphold the decision of the Planning and Environmental Commission, the following motion is recommended: 307 Town of Vail Page 4 03/10/2025 “I move that the Town Council uphold the January 23, 2025, decision of the Planning and Environmental Commission, because the PEC properly determined that the Variance application did not comply with Title 12, Section 12-17-6 Criteria and Findings of the Vail Town Code.” Should the Vail Town Council choose to overturn the decision of the Planning and Environmental Commission, the following motion is recommended: "I move that the Town Council overturn the January 23, 2025, decision of the Planning and Environmental Commission, because the submitted Variance application complies with the Title 12, Section 12-17-6, of the Vail Town Code, finding the application meets the required criteria.” IX. ATTACHMENTS A. AB Global, Inc. Appeal with supporting documentation, January 31, 2025 B. PEC24-0048, January 13, 2025 packet including staff memo and attachments C. PEC Meeting Minutes and Results, January 13, 2025 308 Appeal of Planning & Environmental Commission Decision 387 Beaver Dam Circle Submitted to the Town of Vail: January 31, 2025 309 Appeal of Planning and Environmental Commission Decisions On January 13, 2025, the Planning and Environmental Commission voted to deny a variance request to allow for an increase in the allowable GRFA for the home located at 387 Beaver Dam Circle / Lot 1A, Block 4, Vail Village 3rd Filing. The owner, AB Global Inc., is appealing the Planning and Environmental Commission’s denial. This submittal is provided to the Vail Town Council to address the submittal requirements of Section 12-3-3 Appeals and Call-Up, Vail Town Code. Standing: As the affected applicant, AB Global, Inc. has standing to ﬁle this appeal as outlined in Section 12-3-3B(3): Standing. Only the following have standing to appeal: the affected applicant; an owner of real property that is adjacent to the property that is the subject of the application, or any adversely affected person. For purposes of this Section, adversely affected person means any person who will suffer an adverse effect to an interest protected by this Title, but only if the adverse effect exceeds in degree the effect on others in the general interest in community good shared by all persons. Owner and Adjacent Properties: MAURIELLO PLANNING GROUP PO BOX 4777 EAGLE, CO 81631 TOWN OF VAIL 75 S FRONTAGE RD W VAIL, CO 81657-5043 VAIL CORP THE FIXED ASSETS DEPARTMENT 390 INTERLOCKEN CRES STE 1000 BROOMFIELD, CO 80021-8056 KAPITO, ROBERT & ELLEN BLACK ROCK 55 E 52ND ST FL 6 NEW YORK, NY 10055-0003 HAMMELL, MICHAEL A. CHERRY LANE DR CHERRY HILLS VILLAGE, CO 80113-4209 FREIBURG SNOW LLC 19 SUNSET DR ENGLEWOOD, CO 80113-4033 POCH, DAVID & MICHAEL DR. DAVID POCH 6281 CAMINO DE LA COSTA LA JOLLA, CA 92037-6524 DIKEOU, PANAYES J. 1615 CALIFORNIA ST STE 707 DENVER, CO 80202-3706 2401 BLAKE LLC 1615 CALIFORNIA ST STE 707 DENVER, CO 80202-3706 VALDES, ROBERTO MANUEL GONZALEZ RIO DANUBIO 117 COLONIA DEL VALLE SAN PEDRO GARZA GARCIA MEXICO OCANTO GROUP LLC 1111 BRICKELL AVE STE 2600 MIAMI, FL 33131-3144 AB GLOBAL INC 2307 DOUGLAS RD STE 403 MIAMI, FL 33145-3057 Relevant Code Sections: The following are the relevant code sections: •Section 12-6D-8(B) Gross Residential Floor Area •Section 12-17-6 Criteria and Findings 2 310 3 311 January 30, 2025 Vail Town Council 75 S. Frontage Road West Vail, CO 81657 RE: Appeal of the Planning and Environmental Commission’s denial of a GRFA Variance request at 387 Beaver Dam Circle To Vail Town Council: On January 13, 2025, the Vail Planning and Environmental Commission reviewed a request for a GRFA Variance for 387 Beaver Dam Circle. AB Global Inc. recently purchased the property in July 2023. Unbeknownst to the buyers, the previous owner had converted below grade crawl spaces to GRFA without approval from the Town of Vail. This information was not disclosed to the new owners. The owners would like to resolve the issue - both for their current ownership of the home and so that these issues do not arise for any future buyers. The owner is trying to ﬁnd a solution that will ultimately legalize the ﬁnished spaces within the home that the current owner would like to utilize. We believe that this variance is warranted based on the physical characteristics of the site and the existing home. The property was granted a separation request by the DRB in the late 1990s - allowing the secondary unit to be detached from the primary unit. This approval was based on the presence of wetlands and a stream running through the property. The wetland report recommended a stepped foundation to minimize impacts to the wetland vegetation. The stepped foundation created crawl spaces at each level of the foundation. These crawl spaces were then converted to GRFA by the previous owner. We believe that the PEC failed to consider the necessary ﬁndings for a variance as outlined in Section 12-17-6 of the Vail Town Code: (B) Necessary ﬁndings. The Planning and Environmental Commission shall make the following ﬁndings before granting a variance: (1) That the granting of the variance will not constitute a grant of special privilege inconsistent with the limitations on other properties classiﬁed in the same zone district; (2) That the granting of the variance will not be detrimental to the public health, safety or welfare, or materially injurious to properties or improvements in the vicinity; and (3) That the variance is warranted for one or more of the following reasons: (a) The strict or literal interpretation and enforcement of the speciﬁed regulation would result in practical difﬁculty or unnecessary physical hardship inconsistent with the objectives of this title; (b) There are exceptional or extraordinary circumstances or conditions applicable to the site of the variance that do not apply generally to other properties in the same zone district; and (c) The strict or literal interpretation and enforcement of the speciﬁed regulation would deprive the applicant of privileges enjoyed by the owners of other properties in the same zone district. The necessity of a stepped foundation created a major inequity in the treatment of sites in the vicinity. In the most simplistic of terms, new homes are rarely, if ever, constructed with a stepped foundation today because the most recent amendment to calculation of GRFA only allows for the basement deduction at the very lowest portion of the home. So while these spaces that were converted on this home are completely underground, they cannot use the basement deduction on these spaces. Because of the unique characteristics of the site and the existing stepped foundation, the granting of the variance would not be a grant of special privilege. 4 312 These spaces have no impact on the bulk and mass of the home. If the Town denies this variance, the remedy is to ﬁll these areas to a head height of <5 ft - at considerable cost and hardship to the owner - and no exterior changes will occur to the home. Such a move will have signiﬁcant impacts to the function and ﬂow of the home while the use of the space has no impact to neighbors or the community at large. Because of this, the granting of this variance will have no effect on properties or improvements in the vicinity. Additionally, the owner is willing to work with the Town to ensure that these spaces are brought into compliance with current building codes, an improvement to the public health, safety, and welfare. These inequities could also be resolved with a code amendment to create a GRFA deﬁnition that is more equitable to all residential properties. The current GRFA regulations created unforeseen consequences and issues that could be resolved with amendments to the methodology of the calculations. We believe that our submittal materials have demonstrated that the variance is warranted. Enforcement of the regulation of the calculation of GRFA, which would require that the owner ﬁll in these areas is an unnecessary physical hardship. The site is constrained by wetlands and a stream, which necessitated a stepped foundation - these conditions do not generally apply to other properties in the vicinity. Furthermore, these conditions warrant a variance to create equity amongst properties zoned P/S. These constraints deprived the applicant of the ability to maximize the basement deduction. As witnessed in more recent home construction along Forest Road, Beaver Dam Road, and Rockledge Road - basement GRFA deductions are maximized by scraping the site, creating signiﬁcantly more site disturbance and environmental impact. We understand the difﬁculty and rarity of the granting of GRFA variances. However, this particular situation is unique to this property and does not create a legal precedent. The owner respectfully and humbly requests a GRFA variance to allow these spaces to remain. We appreciate your time and consideration on this matter. Thank you. Sincerely, 5 Dominic Mauriello, AICP Mauriello Planning Group Allison Kent, AICP Mauriello Planning Group 313 Introduction The applicant, AB Global Inc., represented by Mauriello Planning Group, is requesting a variance at 387 Beaver Dam Circle / Lot 1A, Block 4, Vail Village Filing 3 to allow for a variance from Section 12-6D-6.B Gross Residential Floor Area. This section provides the GRFA limitations in the Two-Family Primary/Secondary District (P/S). The current owners recently purchased the property in July 2023. Unbeknownst to the buyers, the previous owner had converted crawl spaces to GRFA without approvals from the Town of Vail. This information was not disclosed to the new owners. The owners would like to resolve the issue - both for their current ownership of the home and so that these issues do not arise for any future buyers. The applicant is trying to ﬁnd a solution that will ultimately legalize the ﬁnished spaces within the home that the current owner would like to utilize. On the main level of the home, there are two spaces that were converted from mechanical crawlspace to GRFA, as shown on the plan below. The ﬁrst, shown in blue from the 2011 plans below, is almost entirely below grade but not on the lowest level of the home to count as excluded basement area. It sits under the garage of the home and appears to have been dug out by the previous owner so that the head height now exceeds 5 ft. It now qualiﬁes as GRFA is approximately 354 sq. ft. Due to its underground location, there are no windows into the space and it is currently set up a storage. The second space, shown in yellow on the 2011 plans above, is beneath the another garage area. This space is also almost entirely below grade and was also shown as crawl space but not on the lowest level of the home to count as excluded basement area. It was converted into GRFA and converted into a laundry area and pantry. It is 317 sq. ft. There are no windows into the space. 6 The main level of the home included a conversion of mechanical and crawl space that was converted to a GRFA as storage room and laundry and pantry area. These spaces are 662 sq. ft. 314 On the lowest level of the home, there is an additional area that was shown as crawl space. This area has not changed much, but is now full head height and is used for storage. This space is entirely below grade and is 174 sq. ft. There are no windows into the area. Because this area is on the lowest level of the home, and is below grade the entirety of the space is deducted from GRFA. Request: The owner is requesting a GRFA variance to allow these spaces to remain as livable areas. It equates to a request of approximately 660 sq. ft. in excess of allowable GRFA for the property. The owner understands that this is a difﬁcult request to make of the Town, but is looking to ﬁnd a reasonable solution for all parties involved and believe that there is justiﬁcation for a GRFA variance as discussed herein. If approved, the applicant understands that these spaces will need to be updated to current building code requirements and will undergo the appropriate permitting process with the Town to ensure that all life safety requirements are met. 7 The lowest level of the home includes a conversion of mechanical crawl space that was converted to a full head height storage room. This space is 174 sq. ft. It is below grade and is therefore deducted from GRFA. 315 History and Background of the Property The home at 387 Beaver Dam Circle was constructed in 1999, though the history of the property dates back to 1964. Lot 1, Block 4, Vail Village 3rd Filing was approved in 1964 under Eagle County jurisdiction. When Vail was incorporated in 1966, this neighborhood was part of the original Town of Vail. Originally zoned Residential, the lot, along with most of the neighborhood, was rezoned Primary/Secondary Residential in 1977. In the late 1990s, the Town approved a separation request for then-owner, W&B development, to allow for the primary unit and secondary unit to be constructed as detached due to wetlands and a small stream running through the property. The secondary unit included a Type 2 EHU. A duplex plat was recorded in 2002, with Lot 1A as the secondary unit and Lot 1B as the primary unit. As required by the Town for all duplex plats, there is a restriction that the GRFA is calculated on the combined area of the two parcels. At the time, the entirety of the property was maxed out on GRFA. The lot size is indicated on the 2002 plat as 0.8671 acres which calculates to 37,770.876 sq. ft. Later in 2002, Lot 1A was sold to HIBOU Colorado Properties LLC. In 2004, the Town completed a major rewrite of the GRFA regulations. The changes had the effect of increasing allowable GRFA for the entirety of Lot 1 from 6,488 sq. ft. to 8,916 sq. ft. The GRFA amendments are discussed in additional detail in the following section of this submittal. In November of 2011, Lot 1A was sold to HCH Organization LLC and a major remodel was completed on the secondary unit. The owner of the secondary residence participated in the EHU exchange program and converted the EHU living space into GRFA for the residence. The remodel and elimination of the EHU used 3,566 sq. ft. of GRFA. This 2011 remodel maxed out the GRFA allowed for the secondary unit. 8 Subject property: Lot 1A 316 Lot 1B, the primary unit, underwent a major remodel in 2014 which utilized 5,354 sq. ft. of GRFA. With this remodel, the entirety of the property (Lot 1) was maxed out on GRFA at 8,919 sq. ft. The GRFA calculation on the 2014 plans indicated that the applicant rounded the lot area to 0.87 acres which calculates to 37,897 sq. ft. While this rounding of the lot area from the platted lot area is relatively inconsequential, it is noted that it equates to a difference of 126 sq. ft. of lot area. This accounts for approximately 7.5 sq. ft. difference of total allowable GRFA for Lot 1, which is reﬂected in calculations being slightly different in this submittal versus other calculations in the record. In 2023, Lot 1A was sold to AB Global Inc., who submitted a building permit to the Town of Vail for interior renovations to the unit. Unbeknownst to the current owners, the prior owner had converted areas identiﬁed as “crawl space” on the 2011 plans into GRFA. These spaces equate to an additional 662 sq. ft. of GRFA. The Town identiﬁed the issue during the review of the building permit and informed the current owner that the GRFA issue needed to be resolved. The owner is asking for a variance to allow Lot 1A to exceed allowable GRFA by a total of 662 sq. ft. It is the owner’s hope that a resolution to legalize these spaces through the Town’s variance process will allow the owner to utilize these spaces as planned for when they purchased the unit. The previous owner did not disclose that these areas were not legally constructed through the Town’s design review process, nor did they have appropriate building permits and inspections. 9 2002 2011 2014 2024 New Construction Total GRFA: 6,488 sf P: 3,808 S: 2,680 Remodel of Secondary Total GRFA: 7,179 sf P: 3,614 S: 3,565 Remodel of Primary Total GRFA: 8,919 sf P: 5,354 S: 3,565 New owner submits plans to TOV, illegal conversion identiﬁed 2004 Town amends GRFA allowance and calculation method Area of the home that was shown as crawl space on the plan that was converted to a laundry and pantry space. 317 Town’s GRFA Regulations The allowances for gross residential ﬂoor area in the Town of Vail have always been difﬁcult to implement. The original GRFA allowance as established in Ordinance 30 of 1977 for the Primary Secondary (P/S) Zone District was as follows: 25% of the ﬁrst 15,000 sq. ft. of lot area 10% of 15,000 sq. ft. to 30,000 sq. ft of lot area 5% of the site area in excess of 30,000 sq. ft. of lot area The secondary unit was not to exceed 1/3 of the allowable GRFA The calculation remained the same until 1981, when the code was amended by Ordinance 23 of 1981 to allow the secondary unit to be a maximum of 40% of the allowable GRFA. Then, in 1985, the Town adopted the “250 Ordinance” which allowed any 5 year old existing dwelling unit to add 250 sq. ft. In 1990, the Town undertook the ﬁrst major overhaul of GRFA in the Town of Vail. Along with modifying the deﬁnition of GRFA, the P/S zone district granted an additional 425 sq. ft. per allowable dwelling unit, effectively increasing the allowable GRFA of P/S zoned properties by 850 sq. ft. The “250 Ordinance” was then amended in 1995 to eliminate the ability to use the 250 if it is a demo/rebuild, to require review by the PEC, and to allow only units that were in existence prior to November 30, 1995 to use the 250. It was common that throughout the 1980s and 1990s, the Town faced on-going issues with the enforcement of GRFA and there was growing concern that owners were doing work without permits, compromising the safety of residents with these illegal construction activities. In 1997, the Town added “Interior Conversions” to the GRFA Chapter, which allowed any units in existence prior to 1997 to participate in an Interior Conversion. It was adopted in recognition that many owners had converted non-habitable space into GRFA without appropriate permits. This section states: § 12-15-4 INTERIOR CONVERSIONS. (A) Purpose. This section provides for ﬂexibility and latitude with the use of interior spaces within existing dwelling units that meet or exceed the allowable gross residential ﬂoor area (GRFA). This would be achieved by allowing for the conversion of existing interior spaces such as vaulted spaces, crawl spaces and other interior spaces into ﬂoor area, provided the bulk and mass of the building is not increased. This provision is intended to accommodate existing homes where residents desire to expand the amount of usable space in the interior of a home. The town has also recognized that property owners have constructed interior space without building permits. This provision is also intended to reduce the occurrence of interior building activity without building permits and thereby further protecting the health, safety, and welfare of the community. While other ordinances modiﬁed the GRFA section of the P/S zone district, the overall calculation remained the same until the adoption Ordinance 14 of 2004. A group of owners and other interested parties submitted an application to the Town of Vail in 2002 with a simple premise: “Eliminate GRFA and allow the other development regulations such as site coverage and height to regulate bulk and mass, especially in the low density residential zone districts.” It was clear from the staff memorandums from the time that because the Interior Conversion only applied to units constructed prior to 1997, staff was still continually dealing with enforcement issues relating to the illegal conversion of crawl or lofted spaces to GRFA. The PEC memo from October 14, 2002, states: Are there safety implications of GRFA? There is a signiﬁcant economic incentive to utilize every square foot in Vail’s real estate market. Illegal construction to create new ﬂoor area happens frequently. Sometimes the Town is able to identify and stop this activity and some times it does not. The result is often construction without a building permit. Therefore ﬁre alarms, ﬁre access, safe construction are issues that may not be addressed… (pg. 9, Staff Memorandum to PEC dated October 14, 2002) 10 318 Notably, much of the research provided to staff in the early 2000s, included research that had been completed in the mid-1990s which was based on a similar premise: GRFA is difﬁcult to administer and has lead to construction completed without building permits - compromising the safety of residents. From a review of the minutes of the PEC reviews during the early 2000s, it was continually identiﬁed by PEC members that basements and crawl spaces were always the most problematic aspect of GRFA regulations. The chairperson of the PEC stated: …Below grade not being counted was a unanimous decision. He stressed simplicity and said that a restriction of basements not exceeding the actual footprint of the structure might be implemented successfully. (PEC Minutes from August 11, 2023) Following years of discussions and hearings, Ordinance 14 of 2004 was approved by the Town Council, providing a major overhaul of GRFA in the Town of Vail. GRFA calculations for the P/S zone district were amended as follows: 46% of the ﬁrst 10,000 sq. ft. of lot area 38% of 10,000 sq. ft. to 15,000 sq. ft of lot area 13% of 15,,000 sq. ft. to 30,000 sq. ft of lot area 6% of the site area in excess of 30,000 sq. ft. of lot area The secondary unit was not to exceed 40% of the allowable GRFA With this amendment, the 425 sq. ft. credit per allowable unit was eliminated. Additionally, the allowance for “250 Additions” and “Interior Conversions” were eliminated for many zone districts, including P/S-zoned properties. The concept was that GRFA was increased enough to capture these other allowances. We are not sure that was a successful assumption. While the methodology of measuring GRFA was also modiﬁed with Ordinance 14 of 2004, the biggest change was allowing for basements to be deducted from the calculation. This was a major point of discussion during the amendment process, as it was argued that basements areas should not be counted toward GRFA because they do not have an impact on a structure’s bulk and mass. The language adopted in 2004 was as follows: 6. Basements: on the lowest level of a structure, the total percentage of exterior wall surfaces unexposed and below existing or ﬁnished grade, whichever is more restrictive shall be the percentage of the horizontal area of the lowest level deducted from the GRFA calculations. The percentage deduction calculations shall be rounded to the near whole percent. The lowest level’s exterior wall surface area shall be measured from the ﬁnished ﬂoor elevation of that level to the underside of the structural ﬂoor members of the ﬂoor/ceiling assembly above. For the purposes of these calculations, retaining walls and site walls shall not be considered part of the lowest level’s exterior walls. However, this language lacked clarity and by 2016, there was disagreement amongst applicants and staff on the implementation of the basement deduction. Many believed that the initial discussion was that basement credit was meant to apply to to any space that was generally below grade. This was especially important in that the Design Guidelines encourage the stepping of foundations to create more environmentally sensitive designs on steep slopes. Additionally, in the case of duplex units that were uphill/downhill units, staff had interpreted that only the unit at the lowest grade got to take advantage of the basement credit. Unfortunately, even the graphics used at the time to discuss basement levels assumed a simple rectangular ﬂoor plan - quite uncommon in construction of dwelling units in Vail - so the record lacked some clarity on how the basement deduction was to be applied to multi-unit structures. In 2016, the basement deduction was amended to read as follows: 6. Basements. On the lowest level of a structure, the total percentage of all exterior wall surfaces of the structure as a whole (interior party walls are not considered exterior walls for the purposes of this section) that are unexposed and below existing or ﬁnished grade, whichever is more restrictive, shall be the percentage of the horizontal area of 11 319 the lowest level deducted from the GRFA calculations. The lowest level shall be the ﬁnished ﬂoor level with the lowest USGS elevation, including all ﬂoor levels within six vertical feet of the lowest level. A multi-unit building shall be considered one structure. The percentage deduction calculations shall be rounded to nearest whole percent. The lowest level exterior wall surface area shall be measured from the ﬁnished ﬂoor elevation of that level to the underside of the structural ﬂoor members of the ﬂoor/ceiling assembly above. For the purposes of these calculations, retaining walls and site walls shall not be considered part of the lowest level exterior walls. The deduction shall be applied to all horizontal areas on the lowest level of a structure, including garages and employee housing units also deducted from the calculation of GRFA elsewhere in this title; but the deduction does not apply to any crawl space or attic. Unfortunately, this had the effect of eliminating any beneﬁt to doing a stepped foundation - now it explicitly states that only the very lowest level of a structure gets the deduction - so it is more common to see entire building sites scraped to maximize the basement credit and allowable GRFA. Additionally, the basement deduction language still fails to address one of the fundamental issues with GRFA regulations in the Town of Vail: conversions of existing crawl space to GRFA. As discussed previously, this home was originally constructed in 2002, and as such, was not eligible for either a 250 addition nor an interior conversion due to the date requirements for those processes. It also pre-dated the adoption of the new GRFA allowances and calculation methodologies. It was constructed at a time when the Town strongly encouraged stepped foundations to minimize site disturbance. Furthermore, this property was further constrained by wetlands and a perennial stream that runs between Lot 1A and Lot 1B. It was because of these impacts that the home was granted a separation request by the Design Review Board. The siting of the home and the use of a stepped foundation was recommended by the wetland report to reduce construction disturbance around the house to a zone not to exceed 5 ft. This construction method created crawl spaces at multiple levels of the home, as shown in the plans from the permit plans from 2002. 12 Graphic used by staff to illustrate basement deductions during the 2004 review process for the GRFA amendments. 320 It was recognized in the staff memorandum for the amendment that the methodology of only excluding the lowest level would discourage the design of buildings with stepped foundations. The staff memo states: By excluding the lowest level of a structure from the GRFA calculations, this amendment creates an incentive to maximize the size of the lowest level (equivalent to the allowable site coverage). This also discourages the design of buildings that “step-up” a site where the alignment of the building steps in response to the site topography. This then encourages a greater amount of site excavation that results in more disturbance to existing soils and the more destruction of existing vegetation. When calculating GRFA, deductions such as those for crawlspaces and garages located on the lowest level of a building will be applied ﬁrst and then a basement deduction will be applied. This methodology continues to encourage at the construction of crawlspaces designed to be illegal converted to GRFA at a future date. (pg. 9, Staff Memorandum to Town Council, July 6, 2004) Furthermore, the staff memo recognized that the methodology to deduct basements from GRFA could create justiﬁcation for variances from the GRFA regulations, stating: This amendment may create justiﬁcation for variances from the GRFA regulations. If below-grade spaces are deducted from the GRFA calculations, the Town can anticipate receiving variance applications for lots where the construction of a basement is not physically practical (i.e. the presence of bedrock, high water tables near creeks and wetlands, excessively steep slopes, the presence of existing buildings and structures, etc.) (pg. 8-9, Staff Memorandum to Town Council, July 6, 2004) 13 Crawl space legally converted in 2011 - deducted from GRFA because on lowest level of structure Crawl space illegally converted - cannot be deducted from GRFA as is on main level of structure, even though almost completely buried Section from the 2002 Building Permit for Lot 1A, showing how the stepped foundation created crawl spaces at the lowest level of each step in the foundation. In reality, basement spaces are much more complicated than the graphic used as part of the 2004 GRFA amendments. 321 GRFA Analysis Lot 1 Area: 0.8671 acres / 37,770.876 sq. ft. GRFA Allowed GRFA Constructed GRFA Remaining Primary 5,349.75 5354 -4.25 Secondary 3,566.50 4227 -660.50 Total 8,916.25 9581 -664.75 14 322 Criteria for Review: GRFA Variance The criteria for review for a variance refers to the criteria provided in Section 12-17-6; Criteria and Necessary Findings. The following section provides an analysis of the proposed variance under these criteria: 1.The relationship of the requested variance to other existing or potential uses and structures in the vicinity. Applicant Response: The Beaver Dam Road and Beaver Dam Circle neighborhood is zoned Primary/Secondary, with generally all lots allowed two dwelling units. The property is adjacent to a Town of Vail-owned open space property zoned Agricultural and Open Space. The proposed GRFA variance has no impact to properties in the vicinity. The spaces in question have existed since the original construction of the home in 2002. While it is unknown exactly when the illegal conversion to GRFA occurred, the bulk and mass of the structure did not change from its original construction. Even the exterior remained exactly the same - no exterior windows, doors, etc. were added as part of the conversion. Because of this, the proposed variance is consistent with the uses and structures, both existing and potential, in the vicinity. 2.The degree to which relief from the strict or literal interpretation and enforcement of a speciﬁed regulation is necessary to achieve compatibility and uniformity of treatment among sites in the vicinity, or to attain the objectives of this title without grant of special privilege. Applicant Response: The applicant acknowledges that GRFA variances are rare within the Town of Vail. However, this property is unique. The site is constrained by a perennial steam and wetlands on the property. The impacts of these 15 Subject Property: 387 Beaver Dam 323 were the basis for a separation request that was granted by the Design Review Board when the development of the site was approved by the Town. The primary unit was constructed on the larger buildable area of the site, to the northeast of the wetlands, while the secondary unit was constructed on the smaller portion of the site, to the southwest of the wetlands. Because the secondary unit was more constrained by the wetlands, the construction of the home required limited site disturbance to protect the wetland vegetation and perennial stream. The remaining buildable area then necessitated the orientation of the home to run more perpendicular to the grades, rather than running parallel to the grades. The wetland report recommended a stepped foundation with no site disturbance to occur within 5 ft. of the foundation. This type of construction method inevitably led to crawl spaces at the lowest level of each step of the foundation. These factors are unique to this site. Combine this with the fact that the existing structure was built just prior to the 2004 GRFA amendments, which created deductions for basement areas on only the lowest level. Staff noted in the adoption of these basement deductions this there would then be justiﬁcations for GRFA variance based on factors that speciﬁcally apply to this lot: high water tables near creeks and wetlands and the presence of existing buildings and structures. This amendment may create justiﬁcation for variances from the GRFA regulations. If below-grade spaces are deducted from the GRFA calculations, the Town can anticipate receiving variance applications for lots where the construction of a basement is not physically practical (i.e. the presence of bedrock, high water tables near creek and wetlands, excessively steep slopes, the presence of existing buildings and structures, etc.) (pg. 8-9, Staff Memorandum to Town Council, July 6, 2004) If this home had been constructed after the 2004 GRFA amendments, it may have been constructed differently in such a manner that would have more successfully maximized the basement deduction. However, that may not have been possible due to the physical constraints of the lot. As identiﬁed by staff, the presence of the perennial stream and wetlands could have been a viable justiﬁcation for a variance. Similarly, the previous owner could have requested a GRFA variance prior to the conversion of the crawl spaces into GRFA using the stream and wetlands, along with the presence of the existing structure, which was also identiﬁed by staff as a justiﬁcation for a GRFA variance. It is unfortunate that it lands on this owner to correct the actions of the previous owner. Because there are unique physical characteristics of this site and structure that do not allow the home to be constructed in a similar manner as other homes in the vicinity which allow for a greater basement deduction, it is not a grant of special privilege to approve this GRFA variance. Further, those building homes today are able to gain much more ﬂoor area by planning for the lowest level basement deduction which is not afforded to this existing home, so this variance simply levels the playing ﬁeld between older established homes with stepped foundations and those with extensive lowest level basement spaces. 3.The effect of the requested variance on light and air, distribution of population, transportation and trafﬁc facilities, public facilities and utilities, and public safety. Applicant Response: The bulk and mass of the existing structure remains exactly the same as was approved with the 2002 construction of the home and the 2011 remodel of the home. These spaces exist within the footprint of the home, whether they are GRFA or back-ﬁlled to a 5 ft. head height. There are no impacts to distances between buildings, which would affect light and air. The distribution of population is not affected by the variance request, and there are no impacts to transportation facilities, public facilities and utilities. The variance request improves public safety and welfare - as these spaces will now be brought to current Building Code requirements and inspected by Town of Vail ofﬁcials. As a result, the proposed variance complies with this criterion. 4.Such other factors and criteria as the commission deems applicable to the proposed variance. Applicant Response: The applicant will address any additional comments at the Town Council hearing. 16 324 Necessary Findings: Variance The necessary ﬁndings for a variance refers to the ﬁndings listed in Section 12-17-6; Criteria and Necessary Findings. These ﬁndings are based off of a review of the criteria listed above. The following section provides an analysis of the proposed variance based on the necessary ﬁndings: 1.That the granting of the variance will not constitute a grant of special privilege inconsistent with the limitations on other properties classiﬁed in the same zone district. Applicant Response: As this ﬁnding is based on Criterion #2 in the previous section, please refer to the analysis above. To summarize, the site is constrained by a perennial steam and wetlands on the property. The wetland report recommended a stepped foundation with no site disturbance to occur within 5 ft. of the foundation. This type of construction method inevitably led to crawl spaces at the lowest level of each step of the foundation. These factors are unique to this site. Combine this with the fact that the existing structure was built just prior to the 2004 GRFA amendments, which created deductions for basement areas on only the lowest level. If this home had been constructed after the 2004 GRFA amendments, it may have been constructed in such a manner that would have more successfully maximized the basement deduction. However, that may not have been possible due to the physical constraints of the lot and a variance could have been requested so that the home could take advantage of basement deductions like other homes in the vicinity have been able to. The presence of the perennial stream and wetlands could have been a viable justiﬁcation for a variance. Similarly, the previous owner could have requested a GRFA variance prior to the conversion of the crawl spaces into GRFA using the stream and wetlands, along with the presence of the existing structure, also an identiﬁed justiﬁcation for a GRFA variance. Because there are unique physical characteristics of this site and structure that do not allow the home to be constructed in a similar manner as other homes in the vicinity which allow for a greater basement deduction, it is not a grant of special privilege to approve this GRFA variance. Further, those building homes today are able to gain much more ﬂoor area by planning for the lowest level basement deduction which is not afforded to this existing home, so this variance simply levels the playing ﬁeld between older established homes with stepped foundations and those with extensive lowest level basement spaces. 2.That the granting of the variance will not be detrimental to the public health, safety, or welfare, or materially injurious to properties or improvements in the vicinity. Applicant Response: Based on Criteria 1 and 3 above, the granting of this variance would not be detrimental to the public health, safely or welfare. 3.That the variance is warranted for one or more of the following reasons: a.The strict or literal interpretation and enforcement of the speciﬁed regulation would result in practical difﬁculty or unnecessary physical hardship inconsistent with the objectives of this title. b.There are exceptional or extraordinary circumstances or conditions applicable to the site of the variance that do not apply generally to other properties in the same zone district. c.The strict or literal interpretation and enforcement of the speciﬁed regulation would deprive the applicant of privileges enjoyed by the owners of other properties in the same zone district. Applicant Response: The owner understands that this is a difﬁcult request to make of the Town, but is looking to ﬁnd a reasonable solution for all parties involved and believe that there is justiﬁcation for a GRFA variance. The options for the current owner to rectify the situation created by the previous owner are not great for anyone involved: 17 325 1)Bring in enough ﬁll to re-create the original crawl space height of 5 ft. The physical challenges of completing this work are an unnecessary burden on the current homeowner, who was not responsible for the illegal construction to begin with. This also means the current purchased ﬂoor area will now disappear, affecting the function of the home. Also this is not practical because of the location of utilities and mechanical equipment at the rear of this spaces that must remain accessible. 2)Remove GRFA in other locations of the home to accommodate the GRFA created by the crawl space conversion. The removal of other spaces would eliminate more useable rooms within the home - bedrooms, living rooms, etc. This would be difﬁcult and impractical as those spaces are legal, permitted, and ﬁnished spaces that serve familial functions within the home. 3)Demolish and rebuild a home that could maximize GRFA and the basement deduction more in line with neighboring properties. While this is plausible, the current owners purchased this home with the intent of using the home - not an expensive and challenging demo and new construction project. Additionally, the site constraints on this property do not go away with a demo/rebuild. The site is constrained by the perennial stream and wetlands and when the duplex plat established the property line between Lot 1A and Lot 1B, it generally follows the stream and creates a compact buildable site area for Lot 1A. These all result in an unnecessary physical hardship to the current owner, who did not cause the situation, and the variance is therefore warranted. The site has extraordinary circumstances that do not apply to other properties to all properties within the P/S zone district - the perennial stream and associated wetlands on the site. These conditions created a limited buildable area for the home, along with more robust construction requirements such as a stepped foundation with deﬁned limits of disturbance of only 5 ft. from the perimeter of the foundation to protect the wetland vegetation. These same site constraints warranted the approval of a separation request from the Design Review Board. These can be as challenging, if not more, to be granted as a variance. In fact, in granting a separation request, the DRB must make a determination that the lot has signiﬁcant site constraints, as outlined in the following code section: § 14-10-6 RESIDENTIAL DEVELOPMENT. (A) The purpose of this section is to ensure that residential development be designed in a manner that creates an architecturally integrated structure with uniﬁed site development. Dwelling units and garages shall be designed within a single structure, except as set forth in subsection (B) of this section, with the use of uniﬁed architectural and landscape design. A single structure shall have common roofs and building walls that create enclosed space substantially above grade. Uniﬁed architectural and landscape design shall include, but not be limited to, the use of compatible building materials, architectural style, scale, roof forms, massing, architectural details, site grading and landscape materials and features. (B) The presence of signiﬁcant site constraints may permit the physical separation of units and garages on a site. The determination of whether or not a lot has signiﬁcant site constraints shall be made by the Design Review Board. SIGNIFICANT SITE CONSTRAINTS shall be deﬁned as natural features of a lot such as stands of mature trees, natural drainages, stream courses and other natural water features, rock outcroppings, wetlands, other natural features and existing structures that may create practical difﬁculties in the site planning and development of a lot. Slope may be considered a physical site constraint that allows for the separation of a garage from a unit. It shall be the applicant’s responsibility to request a determination from the Design Review Board as to whether or not a site has signiﬁcant site constraints before ﬁnal design work on the project is presented. This determination shall be made at a conceptual review of the proposal based on review of the site, a detailed survey of the lot and a preliminary site plan of the proposed structure(s). 18 326 It is because of all these factors that the strict enforcement of the GRFA regulations would deprive the applicant of privileges enjoyed by the owners of other properties in the same zone district. Because the existing structure was completed just prior to the major overhaul of the GRFA regulations, it was unable to take advantage of the changes to the basement deduction which more recently constructed homes are permitted to do. This, combined with the physical site constraints, deprives the applicant of the privileges enjoyed by other P/S zoned properties. 19 327 Conclusion The current owner was unfortunately placed into this situation by previous owners who illegally converted crawl spaces into GRFA. This information was not disclosed to the new owners and was only discovered when they submitted permits to the Town for a remodel and the areas were shown correctly and accurately on the plans. The owners would like to resolve the issue - both for their current ownership of the home and so that these issues do not arise for any future buyers. The owner is requesting a GRFA variance to allow these spaces to remain. It equates to a request of approximately 660 sq. ft. in excess of allowable GRFA for the property. The owner understands that this is a difﬁcult request to make of the Town, but is looking to ﬁnd a reasonable solution for all parties involved and believe that there is justiﬁcation for a GRFA variance. If approved, the applicant understands that these spaces will need to be updated to current building code requirements and will undergo the appropriate permitting process with the Town to ensure that all life safety requirements are met. These spaces are almost entirely underground and have no impact on site coverage or building height as they are below existing ﬂoor area or garages. No changes were made to the exterior of the home to accommodate these spaces. There are no windows into the areas. They have no impact on adjacent properties. There are identiﬁed site constraints on the property: a perennial stream and wetlands. These site constrains were found to be signiﬁcant enough to warrant the approval of a separation request for the home’s original construction in 2002. These site constraints also dictated the construction methodology - a stepped foundation that created crawl spaces at each step in the foundation. Because the basement deduction is only granted at the lowest level of the home, the structure is limited to basement space to a greater degree than other properties zoned P/S in the vicinity. As identiﬁed during the review process of the GRFA, all of this could justify a variance from the adopted GRFA regulations. The applicant respectfully and humbly requests a GRFA variance to allow these spaces to remain. Thank you. 20 328 Restrooms BEAVE R D A M R D BEAVER DAM CIR I Subject Property 0 100 20050 Feet P E C 2 4 - 0 0 4 8P E C 2 4 - 0 0 4 8 3 8 7 B e a v e r D a m C i r c l e V a i l V i l l a g e F i l i n g 3 , B l o c k 4 , L o t 1 A 3 8 7 B e a v e r D a m C i r c l e V a i l V i l l a g e F i l i n g 3 , B l o c k 4 , L o t 1 A This map was created by the Town of Vail GIS Team. Use of this map should be for general purposes only. The Town of Vail does not warrant the accuracy of the information contained herein. (where shown, parcel line work is approximate) Last Modified: January 9, 2025 329 TO: Planning and Environmental Commission FROM: Community Development Department DATE: January 13, 2025 SUBJECT: A request for review of a variance from Section 12-6D-8B, Gross Residential Floor Area, Vail Town Code, pursuant to Title 12 Chapter 17, Variances, Vail Town Code to allow for an increase in the allowable Gross Residential Floor Area (GRFA) within the Two-Family Primary/Secondary Zone District located at 387 Beaver Dam Circle, Lot 1A, Block 4, Vail Village 3rd Filing (PEC24-0048). Applicant: AB Global Inc, represented by Mauriello Planning Group Planner: Heather Knight I. SUMMARY The applicant, AB Global Inc, represented by Mauriello Planning Group, request a review of a variance from Section 12-6D-8B, Gross Residential Floor Area, Vail Town Code, pursuant to Title 12 Chapter 17, Variances, Vail Town Code to allow for an increase in the allowable Gross Residential Floor Area (GRFA) within the Two-Family Primary/Secondary Zone District located at 387 Beaver Dam Circle, Lot 1A, Block 4, Vail Village 3rd Filing. Based upon staff’s review of the criteria outlined in Section VII of this memorandum and the evidence and testimony presented, the Community Development Department recommends denial of this application, subject to the findings in Section VIII of this memorandum. II. DESCRIPTION OF REQUEST The applicant, AB Global Inc, represented by Mauriello Planning Group, request a review of a variance from Section 12-6D-8B, Gross Residential Floor Area, Vail Town Code, pursuant to Title 12 Chapter 17, Variances, Vail Town Code to allow for an increase in the allowable Gross Residential Floor Area (GRFA) within the Two-Family Primary/Secondary Zone District for the property located at 387 Beaver Dam Circle, Lot 1A, Block 4, Vail Village 3rd Filing. The applicant is requesting a total of 661 square feet (sf) in excess of the allowable GRFA for the property. 330 Town of Vail Page 2 A vicinity map (Attachment A), the applicant’s project narrative (Attachment B), 2011 plan set (Attachment C), and title report (Attachment D) are attached for review. III. BACKGROUND Lot 1, Block 4, Vail Village 3rd Filing was approved in 1964 under Eagle County jurisdiction and was incorporated into the original Town of Vail in 1966. The property was originally zoned Residential and later rezoned as Primary/Secondary Residential in 1977. In the late 1990s, the Town approved a separation request for the primary unit and secondary unit to be detached due to wetlands and a small stream that is located on the property. A duplex plat was recorded in 2002 with Lot 1A (the property of focus for this application) as the secondary unit and Lot 1B as the primary unit. The entire Lot 1 is one development lot for zoning standards calculation purposes, including GRFA (see yellow outline on map above). Of Lot 1, Lot 1A is 0.1857 acres and Lot 1B is 0.6814 acres for a total development lot size of 0.8671 acres (37,771sf). The homes on Lot 1A and 1B were then constructed following this re-plat. In July 2004, the Vail Town Council approved Ordinance 14, Series of 2004 to amend the GRFA regulations and calculations for the Hillside Residential, Single-Family Residential, Two-Family Residential, Two-Family Primary/Secondary Residential, Residential Cluster, Low-Density Multiple-Family, Medium Density Multiple Family, High-Density Multiple-Family and Housing Districts. The basement deduction 331 Town of Vail Page 3 calculation was introduced, and new calculations based on site/lot area were implemented. The result of this Ordinance increased the allowable GRFA for the entirety of Lot 1 from 6,488sf to 8,916sf. The basement deduction was later modified in subsequent Ordinances but is still a part of the GRFA calculation to date. In November of 2011, Lot 1A was sold and a major remodel was completed on the secondary unit. The owner of the secondary residence participated in the EHU exchange program and converted the EHU living space into GRFA for the residence. The remodel and elimination of the EHU used 3,566 sq. ft. of GRFA. This 2011 remodel maxed out the GRFA allowed for the secondary unit. Lot 1B, the primary unit, underwent a major remodel in 2014 which utilized 5,354 sq. ft. of GRFA. This additional space exceeded their allowable 60% of the GRFA by 4sf. It is not noted in the project files as to why Lot 1B was permitted to exceed their allowable GRFA. In addition, with this remodel, the entirety of the development lot (Lot 1) was maxed out on GRFA at 8,920sf (4sf over the total allowable GRFA). In 2023, Lot 1A was sold to the applicant, AB Global Inc. Shortly thereafter, the applicant applied for a building permit for interior renovations to the property. Town of Vail staff identified a discrepancy in plans and square footage of the property. The areas identified as crawl space had been converted into living space, equating to approximately 661 sf of GRFA. These additional spaces were not reviewed by the Town of Vail staff as part of any building permit and the applicant was informed that the GRFA issue needed to be resolved prior to the issuance of a building permit. As a result, since the GRFA is maxed out for the entire development lot, the applicant is asking for a GRFA variance to allow for an additional 661sf of GRFA to account for the discrepancy. These converted spaces are identified as follows: • The former mechanical crawl space below the garage was converted to a wine cellar (shown as blue on main level plan below). This space is located almost entirely below grade but is not considered to be on the lowest level of the home, and therefore cannot be counted as excluded basement area for GRFA calculation purposes. • The second space is beneath another garage area and was converted from a mechanical crawl space to a butler’s pantry and laundry area (shown as yellow on main level plan below). The space is also entirely below grade but not on the lowest level of the house. 332 Town of Vail Page 4 • The final space is on the lowest level of the house and was originally noted as crawl space (shown as blue on the lower level plan below). The height of the space is now greater than 5’-0”. There are no windows but a new door from the interior has been constructed. Previously, there was no access from the interior of the home. Because this space is on the lowest level of the home and is below grade, it can be partially deducted from the GRFA calculation. 333 Town of Vail Page 5 In summary, the applicant is requesting that the above-mentioned spaces remain as livable areas and the GRFA is permitted to exceed the allowable. IV. APPLICABLE PLANNING DOCUMENTS Staff finds that the following provisions of the Vail Town Code are relevant to the review of this proposal: Title 12 – Zoning Regulations, Vail Town Code 12-2-2 Definitions of Words and Terms: DEVELOPMENT LOT: A delineation of property that may include one or more structures and/or lot(s) that collectively share dimensional and/or design standards or guidelines. Examples include, but are not limited to, a duplex property containing two (2) dwelling units, a condominium complex of one or more buildings or a multi-unit townhome style development that share dimensional (GRFA, site coverage, etc.) and/or design (unified architectural and landscape design) standards or guidelines. Chapter 6, Article D, Two-Family Primary/Secondary Residential (PS) District (in part) 12-6D-1: PURPOSE: 334 Town of Vail Page 6 The two-family primary/secondary residential district is intended to provide sites for single-family residential uses or two-family residential uses in which one unit is a larger primary residence and the second unit is a smaller caretaker apartment, together with such public facilities as may appropriately be located in the same zone district. The two- family primary/secondary residential district is intended to ensure adequate light, air, privacy and open space for each dwelling, commensurate with single-family and two- family occupancy, and to maintain the desirable residential qualities of such sites by establishing appropriate site development standards. (Ord. 29(2005) § 23: Ord. 30(1977) § 2) 12-6D-2: PERMITTED USES: The following uses shall be permitted: Employee housing units, as further regulated by chapter 13 of this title. Single-family residential dwellings. Two-family residential dwellings. (Ord. 1(2008) § 5) 12-6D-5: LOT AREA AND SITE DIMENSIONS: The minimum lot or site area shall be fifteen thousand (15,000) square feet of buildable area, and each site shall have a minimum frontage of thirty feet (30'). Each site shall be of a size and shape capable of enclosing a square area, eighty feet (80') on each side, within its boundaries. (Ord. 12(1978) § 3: Ord. 30(1977) § 2) 12-6D-8: DENSITY CONTROL: A. Dwelling Units: Not more than a total of two (2) dwelling units shall be permitted on each site with only one dwelling unit permitted on existing lots less than fourteen thousand (14,000) square feet. B. Gross Residential Floor Area: 1. The following gross residential floor area (GRFA) shall be permitted on each site: a. Not more than forty six (46) square feet of gross residential floor area (GRFA) for each one hundred (100) square feet of the first ten thousand (10,000) square feet of site area; plus b. Thirty eight (38) square feet of gross residential floor area (GRFA) for each one hundred (100) square feet of site area over ten thousand (10,000) square feet, not exceeding fifteen thousand (15,000) square feet of site area; plus c. Thirteen (13) square feet of gross residential floor area (GRFA) for each one hundred (100) square feet of site area over fifteen thousand (15,000) square feet, not exceeding thirty thousand (30,000) square feet of site area; plus 335 Town of Vail Page 7 d. Six (6) square feet of gross residential floor area (GRFA) for each one hundred (100) square feet of site area in excess of thirty thousand (30,000) square feet. 2. The secondary unit shall not exceed forty percent (40%) of the allowable gross residential floor area (GRFA). Title 12 – Gross Residential Floor Area (GRFA) 12-15-3: Definition, Calculation, and Exclusions: A. Within the hillside residential (HR), single-family residential (SFR), two-family residential (R), and two-family primary/secondary residential (PS) districts: 1. Gross Residential Floor Area Defined: For residential uses, the total square footage of all horizontal areas on all levels of a structure, as measured to the outside face of the sheathing of the exterior walls (i.e., not including exterior wall finishes). Floor area shall include, but not be limited to, elevator shafts and stairwells at each level, lofts, fireplaces, bay windows, mechanical spaces, vents and chases, storage areas, and other similar areas. Garages; attics; vaulted or open to below spaces; basements; crawl spaces; and roofed or covered decks, porches, terraces, or patios shall be included as floor area; except the horizontal areas of a structure as set forth herein shall then be deducted from the calculation of GRFA. a. GRFA shall be calculated by measuring the total square footage of a building as set forth in the definition above. Excluded areas as set forth herein, shall then each be deducted from the total square footage. (1) Enclosed Garage Area: Enclosed garage areas of up to three hundred (300) square feet per vehicle space not exceeding a maximum of two (2) vehicle parking spaces for each allowable dwelling unit permitted by this title. Garage area deducted from floor area is awarded on a "per space basis" and shall be contiguous to a vehicular parking space. Each vehicular parking space shall be designed with direct and unobstructed vehicular access. Alcoves, storage areas, and mechanical areas which are located in a garage and which are twenty five percent (25%) or more open to the garage area may be included in the garage area deduction. Interior walls separating the garage from other areas of a structure may be included in the garage area deduction. (2) Attic Areas With A Ceiling Height Of Five Feet Or Less: Attic areas with a ceiling height of five feet (5') or less, as measured from the topside of the structural members of the floor to the underside of the structural members of the roof directly above. 336 Town of Vail Page 8 (3) Attic Areas With Trusses: Attic areas created by construction of a roof with structural truss type members, provided the trusses are spaced no greater than thirty inches (30") apart. (4) Attic Areas With Nontruss System: Attic areas created by construction of a roof structure utilizing a nontruss system, with spaces greater than five feet (5') in height, if all of the following criteria are met: (A) The area cannot be accessed directly from a habitable area within the same building level; and (B) The area shall have only the minimum access required by the building code from the level below; and (C) The attic space shall not have a structural floor capable of supporting a "live load" greater than forty (40) pounds per square foot, and the "floor" of the attic space shall not be improved with decking; and (D) It must be demonstrated by the architect that a "truss type" or similar structural system cannot be utilized as defined in the definition of floor area; and (E) It will be necessary that a structural element (i.e., collar tie) be utilized when rafters are used for the roof system. In an unusual situation, such as when a bearing ridge system is used, the staff will review the space for compliance with this policy. (5) Crawl Spaces: Crawl spaces accessible through an opening not greater than twelve (12) square feet in area, with five feet (5') or less of ceiling height, as measured from the surface of the earth to the underside of structural floor members of the floor/ceiling assembly above. Crawl spaces created by a "stepped foundation", hazard mitigation, or other similar engineering requirement that has a total height in excess of five feet (5') may be excluded from GRFA calculations at the discretion of the Administrator. (6) Basements. On the lowest level of a structure, the total percentage of all exterior wall surfaces of the structure as a whole (interior party walls are not considered exterior walls for the purposes of this section) that are unexposed and below existing or finished grade, whichever is more restrictive, shall be the percentage of the horizontal area of the lowest level deducted from the GRFA calculations. The lowest level shall be the finished floor level with the lowest USGS elevation, including all floor levels within six vertical feet of the lowest level. A multi-unit building shall be considered one structure. The percentage deduction calculations shall be rounded to nearest whole percent. The lowest level exterior wall surface area shall be measured from the finished floor elevation of that level to the underside of the structural floor members of the floor/ceiling assembly above. For the purposes of these calculations, retaining walls and site walls shall not be considered part of the lowest level exterior walls. The deduction shall be applied to all horizontal areas on the lowest level of a structure, including garages and employee housing units also deducted from the calculation of GRFA elsewhere in this title; but the deduction does not apply to any crawl space or attic. 337 Town of Vail Page 9 Title 12 –Variances, Vail Town Code 12-17-1: Purpose: A. Reasons For Seeking Variance: In order to prevent or to lessen such practical difficulties and unnecessary physical hardships inconsistent with the objectives of this title as would result from strict or literal interpretation and enforcement, variances from certain regulations may be granted. A practical difficulty or unnecessary physical hardship may result from the size, shape, or dimensions of a site or the location of existing structures thereon; from topographic or physical conditions on the site or in the immediate vicinity; or from other physical limitations, street locations or conditions in the immediate vicinity. Cost or inconvenience to the applicant of strict or literal compliance with a regulation shall not be a reason for granting a variance. B. Development Standards Excepted: Variances may be granted only with respect to the development standards prescribed for each zone district, including lot area and site dimensions, setbacks, distances between buildings, height, density control, building bulk control, site coverage, usable open space, landscaping and site development, and parking and loading requirements; or with respect to the provisions of chapter 11 of this title, governing physical development on a site. C. Use Regulations Not Affected: The power to grant variances does not extend to the use regulations prescribed for each zone district because the flexibility necessary to avoid results inconsistent with the objectives of this title is provided by chapter 16, "Conditional Use Permits", and by section 12-3-7, “Amendment”, of this title. 12-17-5: PLANNING AND ENVIRONMENTAL COMMISSION ACTION: Within twenty (20) days of the closing of a public hearing on a variance application, the planning and environmental commission shall act on the application. The commission may approve the application as submitted or may approve the application subject to such modifications or conditions as it deems necessary to accomplish the purposes of this title, or the commission may deny the application. A variance may be revocable, may be granted for a limited time period, or may be granted subject to such other conditions as the commission may prescribe. 12-17-6: CRITERIA AND FINDINGS: A. Factors Enumerated: Before acting on a variance application, the planning and environmental commission shall consider the following factors with respect to the requested variance: 1. The relationship of the requested variance to other existing or potential uses and structures in the vicinity. 338 Town of Vail Page 10 2. The degree to which relief from the strict or literal interpretation and enforcement of a specified regulation is necessary to achieve compatibility and uniformity of treatment among sites in the vicinity, or to attain the objectives of this title without grant of special privilege. 3. The effect of the requested variance on light and air, distribution of population, transportation and traffic facilities, public facilities and utilities, and public safety. 4. Such other factors and criteria as the commission deems applicable to the proposed variance. B. Necessary Findings: The planning and environmental commission shall make the following findings before granting a variance: 1. That the granting of the variance will not constitute a grant of special privilege inconsistent with the limitations on other properties classified in the same zone district. 2. That the granting of the variance will not be detrimental to the public health, safety, or welfare, or materially injurious to properties or improvements in the vicinity. 3. That the variance is warranted for one or more of the following reasons: a. The strict or literal interpretation and enforcement of the specified regulation would result in practical difficulty or unnecessary physical hardship inconsistent with the objectives of this title. b. There are exceptional or extraordinary circumstances or conditions applicable to the site of the variance that do not generally apply to other properties in the same zone district. c. The strict or literal interpretation and enforcement of the specified regulation would deprive the applicant of privileges enjoyed by the owners of other properties in the same zone district. V. ZONING AND SITE ANALYSIS Address: 387 Beaver Dam Circle Legal Description: Lot 1A, Block 4, Vail Village 3rd Filing Existing Zoning: Two-Family Primary/Secondary Residential (PS) Existing Land Use Designation: Low Density Residential Mapped Geological Hazards: None Mapped Floodplain: None View Corridor: None 339 Town of Vail Page 11 Development Standard* Allowed / Required Existing Proposed Change Site Area 15,000 SF of Buildable Area 0.8671 acres / 37,771 sf No Change Density (DUs) Max. 2 2 2 No Change Density (GRFA) 8,916 sf 9,581 sf ** 9,581 sf +665 SF (4sf increase from Lot 1B and 661 from Lot 1A) (*Note: This chart includes development standards for the entire development lot.) **Area previously enlarged without permits VI. SURROUNDING LAND USES AND ZONING Existing Land Use: Zoning District: North: Low Density Residential Two-Family Primary/Secondary Residential South: Low Density Residential Two-Family Primary/Secondary Residential East: Low Density Residential Two-Family Primary/Secondary Residential West: Ski Base Agricultural and Open Space VII. REVIEW CRITERIA The review criteria for a variance request are prescribed in Title 12, Chapter 17, Variances, Vail Town Code. 1. The relationship of the requested variance to other existing or potential uses and structures in the vicinity. With increased GRFA come increased site impacts. The purpose of limiting GRFA is to control and limit the size, bulk, and mass of residential structures within the town. However, the applicant argues that the bulk and mass of the structure did not change with the conversion of the spaces and no exterior windows or doors were added as a part of the conversion. Staff finds that the calculation of gross residential floor area (GRFA) is an effective tool for limiting the size of residential structures. While the unpermitted addition of this area did not add bulk or mass, the overall limit and permitting process would have required that square footage to be reduced elsewhere in the building, which could have been from a portion of the house above grade where a noticeable amount of bulk or mass would have been removed. Without such limitations, many structures will have consequential impacts on the site and surrounding neighborhood. The approval of this variance would allow the structure to attain a size that would otherwise not be permitted in similar structures in the vicinity. 340 Town of Vail Page 12 The Code was designed to guide development in a way that maintains balance within the town. Enforcing these rules is essential for preserving the town's character, minimizing environmental and social impacts, and ensuring fairness for all property owners. Staff finds the proposed variance does not meet this criterion. 2. The degree to which relief from the strict or literal interpretation and enforcement of a specified regulation is necessary to achieve compatibility and uniformity of treatment among sites in the vicinity, or to attain the objectives of this title without grant of special privilege. Relief from the strict or literal interpretation and enforcement of the regulations on GRFA is not necessary to achieve compatibility or uniformity of treatment among sites in the vicinity. Allowing additional GRFA is not necessary to make the applicants’ property more compatible or achieve uniformity of treatment among other sites in the vicinity. This would be a grant of special privilege to permit GRFA above and beyond the allowable set by the development lot size. There is nothing unique with the property and Staff finds that there is no practical difficulty or unnecessary physical hardship that is a result of the lot or the structure thereon that warrants a variance. Staff finds the proposed variance does not meet this criterion. 3. The effect of the requested variance on light and air, distribution of population, transportation and traffic facilities, public facilities and utilities, and public safety. The proposed variance allows the additional square footage in the building that would otherwise have to be removed. The additional square footage could be removed from upper floors that would improve the sun/shade on adjacent properties to allow more light and air. Increased floor area translates to additional population and use of transportation and traffic facilities, public facilities and utilities. The request is to exceed what these facilities have been designed to accommodate based on the carrying capacity of the zoning put in place. Staff finds the proposed variance does not meet this criterion. 4. Such other factors and criteria as the commission deems applicable to the proposed variance. VIII. STAFF RECOMMENDATION Based upon the review of the criteria outlined in Section VII of this memorandum and the evidence and testimony presented, the Community Development Department 341 Town of Vail Page 13 recommends the Planning and Environmental Commission deny the applicant’s request for a variance from Section 12-6D-8B, Gross Residential Floor Area, Vail Town Code, pursuant to Title 12 Chapter 17, Variances, Vail Town Code to allow for an increase in the allowable Gross Residential Floor Area (GRFA) within the Two-Family Primary/Secondary Zone District located at 387 Beaver Dam Circle, Lot 1A, Block 4, Vail Village 3rd Filing. Denial Motion: Should the Planning and Environmental Commission choose to deny this variance request, the Community Development Department recommends the Commission pass the following motion: “The Planning and Environmental Commission denies the applicant’s request for a variance from Section 12-6D-8B, Gross Residential Floor Area, Vail Town Code, pursuant to Title 12 Chapter 17, Variances, Vail Town Code to allow for an increase in the allowable Gross Residential Floor Area (GRFA) within the Two-Family Primary/Secondary Zone District located at 387 Beaver Dam Circle, Lot 1A, Block 4, Vail Village 3rd Filing., and setting forth details in regard thereto. Should the Planning and Environmental Commission choose to deny this variance, the Community Development Department recommends the Commission make the following findings: “Based upon the review of the criteria outlined in Section VII of the staff memorandum to the Planning and Environmental Commission dated January 13, 2025, and the evidence and testimony presented, the Planning and Environmental Commission finds: 1. The granting of these variances will constitute a granting of special privilege inconsistent with the limitations on other properties classified in the Two-Family Primary/Secondary Residential (PS) District. 2. That the granting of the variance will be detrimental to the public health, safety, or welfare, or materially injurious to properties or improvements in the vicinity. 3. The variance is not warranted for the following reasons: a. The strict literal interpretation or enforcement of the specified regulation will not result in practical difficulty or unnecessary physical hardship inconsistent with the objectives of Title 12, Zoning Regulations, Vail Town Code; b. There are not exceptions or extraordinary circumstances or conditions applicable to the same site of the variances that do not apply generally to other properties in the Two-Family Primary/Secondary Residential (PS) District; and 342 Town of Vail Page 14 c. The strict or literal interpretation and enforcement of the specified regulation would not deprive the applicant of privileges enjoyed by the owners of other properties in the Two-Family Primary/Secondary Residential (PS) District.” IX. ATTACHMENTS A. Vicinity Map B. Applicant Narrative (dated November 11, 2024) C. Plan Set (2011) D. Title Report 343 GRFA Variance Baillères Residence: 387 Beaver Dam Circle Submitted to the Town of Vail: November 11, 2024 344 Introduction The applicant, the Baillères Family, represented by Mauriello Planning Group, is requesting a variance at 387 Beaver Dam Circle / Lot 1A, Block 4, Vail Village Filing 3 to allow for a variance from Section 12-6D-6.B Gross Residential Floor Area. This section provides the GRFA limitations in the Two-Family Primary/Secondary District (P/S). The current owners recently purchased the property in July 2023. Unbeknownst to the buyers, the previous owner had converted crawl spaces to GRFA without approvals from the Town of Vail. This information was not disclosed to the new owners and was only discovered when they submitted permits to the Town for a remodel and the areas were shown correctly and accurately on the plans. The owners would like to resolve the issue - both for their current ownership of the home and so that these issues do not arise for any future buyers. The applicant is trying to avoid a costly lawsuit with the prior owners that will ultimately not resolve the issue of the existing ﬁnished spaces within the home that the current owner would like to utilize. On the main level of the home, there are two spaces that were converted from mechanical crawlspace to GRFA, as shown on the plan below. The ﬁrst, shown in blue from the 2011 plans below, is almost entirely below grade but not on the lowest level of the home to count as excluded basement area. It sits under the garage of the home and appears to have been dug out by the previous owner so that the head height now exceeds 5 ft. It now qualiﬁes as GRFA is approximately 354 sq. ft. Due to its underground location, there are no windows into the space and it is currently set up as a wine cellar. The second space, shown in yellow on the 2011 plans above, is beneath the another garage area. This space is also almost entirely below grade and was also shown as crawl space but not on the lowest level of the home to count as excluded basement area. It was converted into GRFA and converted into a laundry area and butler’s pantry. It is 317 sq. ft. There are no windows into the space. 2 The main level of the home included a conversion of mechanical and crawl space that was converted to a GRFA as a wine storage room and butlers’s kitchen. This spaces are 662 sq. ft. 345 On the lowest level of the home, there is an additional area that was shown as crawl space. This area has not changed much, but is now full head height. It is not accessible from the interior of the home and is used for storage. This space is entirely below grade and is 174 sq. ft. There are no windows into the area. Because this area is on the lowest level of the home, and is below grade the entirety of the space is deducted from GRFA. Request: The owner is requesting a GRFA variance to allow these spaces to remain as livable areas. It equates to a request of approximately 660 sq. ft. in excess of allowable GRFA for the property. The owner understands that this is a difﬁcult request to make of the Town, but is looking to ﬁnd a reasonable solution for all parties involved and believe that there is justiﬁcation for a GRFA variance as discussed herein. If approved, the applicant understands that these spaces will need to be updated to current building code requirements and will undergo the appropriate permitting process with the Town to ensure that all life safety requirements are met. 3 The lowest level of the home includes a conversion of mechanical crawl space that was converted to a full head height storage room. This space is 174 sq. ft. It is below grade and is therefore deducted from GRFA. 346 History and Background of the Property The home at 387 Beaver Dam Circle was constructed in 1999, though the history of the property dates back to 1964. Lot 1, Block 4, Vail Village 3rd Filing was approved in 1964 under Eagle County jurisdiction. When Vail was incorporated in 1966, this neighborhood was part of the original Town of Vail. Originally zoned Residential, the lot, along with most of the neighborhood, was rezoned Primary/Secondary Residential in 1977. In the late 1990s, the Town approved a separation request for then-owner, W&B development, to allow for the primary unit and secondary unit to be constructed as detached due to wetlands and a small stream running through the property. The secondary unit included a Type 2 EHU. A duplex plat was recorded in 2002, with Lot 1A as the secondary unit and Lot 1B as the primary unit. As required by the Town for all duplex plats, there is a restriction that the GRFA is calculated on the combined area of the two parcels. At the time, the entirety of the property was maxed out on GRFA. The lot size is indicated on the 2002 plat as 0.8671 acres which calculates to 37,770.876 sq. ft. Later in 2002, Lot 1A was sold to HIBOU Colorado Properties LLC. In 2004, the Town completed a major rewrite of the GRFA regulations. The changes had the effect of increasing allowable GRFA for the entirety of Lot 1 from 6,488 sq. ft. to 8,916 sq. ft. The GRFA amendments are discussed in additional detail in the following section of this submittal. In November of 2011, Lot 1A was sold to HCH Organization LLC and a major remodel was completed on the secondary unit. The owner of the secondary residence participated in the EHU exchange program and converted the EHU living space into GRFA for the residence. The remodel and elimination of the EHU used 3,566 sq. ft. of GRFA. This 2011 remodel maxed out the GRFA allowed for the secondary unit. 4 Subject property: Lot 1A 347 Lot 1B, the primary unit, underwent a major remodel in 2014 which utilized 5,354 sq. ft. of GRFA. With this remodel, the entirety of the property (Lot 1) was maxed out on GRFA at 8,919 sq. ft. The GRFA calculation on the 2014 plans indicated that the applicant rounded the lot area to 0.87 acres which calculates to 37,897 sq. ft. While this rounding of the lot area from the platted lot area is relatively inconsequential, it is noted that it equates to a difference of 126 sq. ft. of lot area. This accounts for approximately 7.5 sq. ft. difference of total allowable GRFA for Lot 1, which is reﬂected in calculations being slightly different in this submittal versus other calculations in the record. In 2023, Lot 1A was sold to AB Global Inc. (the Baillères Family), who submitted a building permit to the Town of Vail for interior renovations to the unit. Unbeknownst to the current owners, the prior owner had converted areas identiﬁed as “crawl space” on the 2011 plans into GRFA. These spaces equate to an additional 662 sq. ft. of GRFA. The Town identiﬁed the issue during the review of the building permit and informed the current owner that the GRFA issue needed to be resolved. The owner is asking for a variance to allow Lot 1A to exceed allowable GRFA by a total of 662 sq. ft. It is the owner’s hope that a resolution to this issue through the Town’s variance process will prevent the need for a lawsuit against the previous owner for not disclosing that these areas were not legally constructed through the Town’s design review process, nor did they have appropriate building permits and inspections. 5 2002 2011 2014 2024 New Construction Total GRFA: 6,488 sf P: 3,808 S: 2,680 Remodel of Secondary Total GRFA: 7,179 sf P: 3,614 S: 3,565 Remodel of Primary Total GRFA: 8,919 sf P: 5,354 S: 3,565 New owner submits plans to TOV, illegal conversion identiﬁed 2004 Town amends GRFA allowance and calculation method Area of the home that was shown as crawl space on the plan that was converted to a laundry and butler’s pantry. 348 Town’s GRFA Regulations The allowances for gross residential ﬂoor area in the Town of Vail have always been difﬁcult to implement. The original GRFA allowance as established in Ordinance 30 of 1977 for the Primary Secondary (P/S) Zone District was as follows: 25% of the ﬁrst 15,000 sq. ft. of lot area 10% of 15,000 sq. ft. to 30,000 sq. ft of lot area 5% of the site area in excess of 30,000 sq. ft. of lot area The secondary unit was not to exceed 1/3 of the allowable GRFA The calculation remained the same until 1981, when the code was amended by Ordinance 23 of 1981 to allow the secondary unit to be a maximum of 40% of the allowable GRFA. Then, in 1985, the Town adopted the “250 Ordinance” which allowed any 5 year old existing dwelling unit to add 250 sq. ft. In 1990, the Town undertook the ﬁrst major overhaul of GRFA in the Town of Vail. Along with modifying the deﬁnition of GRFA, the P/S zone district granted an additional 425 sq. ft. per allowable dwelling unit, effectively increasing the allowable GRFA of P/S zoned properties by 850 sq. ft. The “250 Ordinance” was then amended in 1995 to eliminate the ability to use the 250 if it is a demo/rebuild, to require review by the PEC, and to allow only units that were in existence prior to November 30, 1995 to use the 250. It was common that throughout the 1980s and 1990s, the Town faced on-going issues with the enforcement of GRFA and there was growing concern that owners were doing work without permits, compromising the safety of residents with these illegal construction activities. In 1997, the Town added “Interior Conversions” to the GRFA Chapter, which allowed any units in existence prior to 1997 to participate in an Interior Conversion. It was adopted in recognition that many owners had converted non-habitable space into GRFA without appropriate permits. This section states: § 12-15-4 INTERIOR CONVERSIONS. (A) Purpose. This section provides for ﬂexibility and latitude with the use of interior spaces within existing dwelling units that meet or exceed the allowable gross residential ﬂoor area (GRFA). This would be achieved by allowing for the conversion of existing interior spaces such as vaulted spaces, crawl spaces and other interior spaces into ﬂoor area, provided the bulk and mass of the building is not increased. This provision is intended to accommodate existing homes where residents desire to expand the amount of usable space in the interior of a home. The town has also recognized that property owners have constructed interior space without building permits. This provision is also intended to reduce the occurrence of interior building activity without building permits and thereby further protecting the health, safety, and welfare of the community. While other ordinances modiﬁed the GRFA section of the P/S zone district, the overall calculation remained the same until the adoption Ordinance 14 of 2004. A group of owners and other interested parties submitted an application to the Town of Vail in 2002 with a simple premise: “Eliminate GRFA and allow the other development regulations such as site coverage and height to regulate bulk and mass, especially in the low density residential zone districts.” It was clear from the staff memorandums from the time that because the Interior Conversion only applied to units constructed prior to 1997, staff was still continually dealing with enforcement issues relating to the illegal conversion of crawl or lofted spaces to GRFA. The PEC memo from October 14, 2002, states: Are there safety implications of GRFA? There is a signiﬁcant economic incentive to utilize every square foot in Vail’s real estate market. Illegal construction to create new ﬂoor area happens frequently. Sometimes the Town is able to identify and stop this activity and some times it does not. The result is often construction without a building permit. Therefore ﬁre alarms, ﬁre access, safe construction are issues that may not be addressed… (pg. 9, Staff Memorandum to PEC dated October 14, 2002) 6 349 Notably, much of the research provided to staff in the early 2000s, included research that had been completed in the mid-1990s which was based on a similar premise: GRFA is difﬁcult to administer and has lead to construction completed without building permits - compromising the safety of residents. From a review of the minutes of the PEC reviews during the early 2000s, it was continually identiﬁed by PEC members that basements and crawl spaces were always the most problematic aspect of GRFA regulations. The chairperson of the PEC stated: …Below grade not being counted was a unanimous decision. He stressed simplicity and said that a restriction of basements not exceeding the actual footprint of the structure might be implemented successfully. (PEC Minutes from August 11, 2023) Following years of discussions and hearings, Ordinance 14 of 2004 was approved by the Town Council, providing a major overhaul of GRFA in the Town of Vail. GRFA calculations for the P/S zone district were amended as follows: 46% of the ﬁrst 10,000 sq. ft. of lot area 38% of 10,000 sq. ft. to 15,000 sq. ft of lot area 13% of 15,,000 sq. ft. to 30,000 sq. ft of lot area 6% of the site area in excess of 30,000 sq. ft. of lot area The secondary unit was not to exceed 40% of the allowable GRFA With this amendment, the 425 sq. ft. credit per allowable unit was eliminated. Additionally, the allowance for “250 Additions” and “Interior Conversions” were eliminated for many zone districts, including P/S-zoned properties. The concept was that GRFA was increased enough to capture these other allowances. We are not sure that was a successful assumption. While the methodology of measuring GRFA was also modiﬁed with Ordinance 14 of 2004, the biggest change was allowing for basements to be deducted from the calculation. This was a major point of discussion during the amendment process, as it was argued that basements areas should not be counted toward GRFA because they do not have an impact on a structure’s bulk and mass. The language adopted in 2004 was as follows: 6. Basements: on the lowest level of a structure, the total percentage of exterior wall surfaces unexposed and below existing or ﬁnished grade, whichever is more restrictive shall be the percentage of the horizontal area of the lowest level deducted from the GRFA calculations. The percentage deduction calculations shall be rounded to the near whole percent. The lowest level’s exterior wall surface area shall be measured from the ﬁnished ﬂoor elevation of that level to the underside of the structural ﬂoor members of the ﬂoor/ceiling assembly above. For the purposes of these calculations, retaining walls and site walls shall not be considered part of the lowest level’s exterior walls. However, this language lacked clarity and by 2016, there was disagreement amongst applicants and staff on the implementation of the basement deduction. Many believed that the initial discussion was that basement credit was meant to apply to to any space that was generally below grade. This was especially important in that the Design Guidelines encourage the stepping of foundations to create more environmentally sensitive designs on steep slopes. Additionally, in the case of duplex units that were uphill/downhill units, staff had interpreted that only the unit at the lowest grade got to take advantage of the basement credit. Unfortunately, even the graphics used at the time to discuss basement levels assumed a simple rectangular ﬂoor plan - quite uncommon in construction of dwelling units in Vail - so the record lacked some clarity on how the basement deduction was to be applied to multi-unit structures. In 2016, the basement deduction was amended to read as follows: 6. Basements. On the lowest level of a structure, the total percentage of all exterior wall surfaces of the structure as a whole (interior party walls are not considered exterior walls for the purposes of this section) that are unexposed and below existing or ﬁnished grade, whichever is more restrictive, shall be the percentage of the horizontal area of 7 350 the lowest level deducted from the GRFA calculations. The lowest level shall be the ﬁnished ﬂoor level with the lowest USGS elevation, including all ﬂoor levels within six vertical feet of the lowest level. A multi-unit building shall be considered one structure. The percentage deduction calculations shall be rounded to nearest whole percent. The lowest level exterior wall surface area shall be measured from the ﬁnished ﬂoor elevation of that level to the underside of the structural ﬂoor members of the ﬂoor/ceiling assembly above. For the purposes of these calculations, retaining walls and site walls shall not be considered part of the lowest level exterior walls. The deduction shall be applied to all horizontal areas on the lowest level of a structure, including garages and employee housing units also deducted from the calculation of GRFA elsewhere in this title; but the deduction does not apply to any crawl space or attic. Unfortunately, this had the effect of eliminating any beneﬁt to doing a stepped foundation - now it explicitly states that only the very lowest level of a structure gets the deduction - so it is more common to see entire building sites scraped to maximize the basement credit and allowable GRFA. Additionally, the basement deduction language still fails to address one of the fundamental issues with GRFA regulations in the Town of Vail: conversions of existing crawl space to GRFA. As discussed previously, this home was originally constructed in 2002, and as such, was not eligible for either a 250 addition nor an interior conversion due to the date requirements for those processes. It also pre-dated the adoption of the new GRFA allowances and calculation methodologies. It was constructed at a time when the Town strongly encouraged stepped foundations to minimize site disturbance. Furthermore, this property was further constrained by wetlands and a perennial stream that runs between Lot 1A and Lot 1B. It was because of these impacts that the home was granted a separation request by the Design Review Board. The siting of the home and the use of a stepped foundation was recommended by the wetland report to reduce construction disturbance around the house to a zone not to exceed 5 ft. This construction method created crawl spaces at multiple levels of the home, as shown in the plans from the permit plans from 2002. 8 Graphic used by staff to illustrate basement deductions during the 2004 review process for the GRFA amendments. 351 It was recognized in the staff memorandum for the amendment that the methodology of only excluding the lowest level would discourage the design of buildings with stepped foundations. The staff memo states: By excluding the lowest level of a structure from the GRFA calculations, this amendment creates an incentive to maximize the size of the lowest level (equivalent to the allowable site coverage). This also discourages the design of buildings that “step-up” a site where the alignment of the building steps in response to the site topography. This then encourages a greater amount of site excavation that results in more disturbance to existing soils and the more destruction of existing vegetation. When calculating GRFA, deductions such as those for crawlspaces and garages located on the lowest level of a building will be applied ﬁrst and then a basement deduction will be applied. This methodology continues to encourage at the construction of crawlspaces designed to be illegal converted to GRFA at a future date. (pg. 9, Staff Memorandum to Town Council, July 6, 2004) Furthermore, the staff memo recognized that the methodology to deduct basements from GRFA could create justiﬁcation for variances from the GRFA regulations, stating: This amendment may create justiﬁcation for variances from the GRFA regulations. If below-grade spaces are deducted from the GRFA calculations, the Town can anticipate receiving variance applications for lots where the construction of a basement is not physically practical (i.e. the presence of bedrock, high water tables near creeks and wetlands, excessively steep slopes, the presence of existing buildings and structures, etc.) (pg. 8-9, Staff Memorandum to Town Council, July 6, 2004) 9 Crawl space legally converted in 2011 - deducted from GRFA because on lowest level of structure Crawl space illegally converted - cannot be deducted from GRFA as is on main level of structure, even though almost completely buried Section from the 2002 Building Permit for Lot 1A, showing how the stepped foundation created crawl spaces at the lowest level of each step in the foundation. In reality, basement spaces are much more complicated than the graphic used as part of the 2004 GRFA amendments. 352 GRFA Analysis Lot 1 Area: 0.8671 acres / 37,770.876 sq. ft. GRFA Allowed GRFA Constructed GRFA Remaining Primary 5,349.75 5354 -4.25 Secondary 3,566.50 4227 -660.50 Total 8,916.25 9581 -664.75 10 353 Criteria for Review: GRFA Variance The criteria for review for a variance refers to the criteria provided in Section 12-17-6; Criteria and Necessary Findings. The following section provides an analysis of the proposed variance under these criteria: 1. The relationship of the requested variance to other existing or potential uses and structures in the vicinity. Applicant Response: The Beaver Dam Road and Beaver Dam Circle neighborhood is zoned Primary/Secondary, with generally all lots allowed two dwelling units. The property is adjacent to a Town of Vail-owned open space property zoned Agricultural and Open Space. The proposed GRFA variance has no impact to properties in the vicinity. The spaces in question have existed since the original construction of the home in 2002. While it is unknown exactly when the illegal conversion to GRFA occurred, the bulk and mass of the structure did not change from its original construction. Even the exterior remained exactly the same - no exterior windows, doors, etc. were added as part of the conversion. Because of this, the proposed variance is consistent with the uses and structures, both existing and potential, in the vicinity. 2. The degree to which relief from the strict or literal interpretation and enforcement of a speciﬁed regulation is necessary to achieve compatibility and uniformity of treatment among sites in the vicinity, or to attain the objectives of this title without grant of special privilege. Applicant Response: The applicant acknowledges that GRFA variances are rare within the Town of Vail. However, this property is unique. The site is constrained by a perennial steam and wetlands on the property. The impacts of these 11 Subject Property: 387 Beaver Dam 354 were the basis for a separation request that was granted by the Design Review Board when the development of the site was approved by the Town. The primary unit was constructed on the larger buildable area of the site, to the northeast of the wetlands, while the secondary unit was constructed on the smaller portion of the site, to the southwest of the wetlands. Because the secondary unit was more constrained by the wetlands, the construction of the home required limited site disturbance to protect the wetland vegetation and perennial stream. The remaining buildable area then necessitated the orientation of the home to run more perpendicular to the grades, rather than running parallel to the grades. The wetland report recommended a stepped foundation with no site disturbance to occur within 5 ft. of the foundation. This type of construction method inevitably led to crawl spaces at the lowest level of each step of the foundation. These factors are unique to this site. Combine this with the fact that the existing structure was built just prior to the 2004 GRFA amendments, which created deductions for basement areas on only the lowest level. Staff noted in the adoption of these basement deductions this there would then be justiﬁcations for GRFA variance based on factors that speciﬁcally apply to this lot: high water tables near creeks and wetlands and the presence of existing buildings and structures. This amendment may create justiﬁcation for variances from the GRFA regulations. If below-grade spaces are deducted from the GRFA calculations, the Town can anticipate receiving variance applications for lots where the construction of a basement is not physically practical (i.e. the presence of bedrock, high water tables near creek and wetlands, excessively steep slopes, the presence of existing buildings and structures, etc.) (pg. 8-9, Staff Memorandum to Town Council, July 6, 2004) If this home had been constructed after the 2004 GRFA amendments, it may have been constructed differently in such a manner that would have more successfully maximized the basement deduction. However, that may not have been possible due to the physical constraints of the lot. As identiﬁed by staff, the presence of the perennial stream and wetlands could have been a viable justiﬁcation for a variance. Similarly, the previous owner could have requested a GRFA variance prior to the conversion of the crawl spaces into GRFA using the stream and wetlands, along with the presence of the existing structure, which was also identiﬁed by staff as a justiﬁcation for a GRFA variance. It is unfortunate that it lands on this owner to correct the actions of the previous owner. Because there are unique physical characteristics of this site and structure that do not allow the home to be constructed in a similar manner as other homes in the vicinity which allow for a greater basement deduction, it is not a grant of special privilege to approve this GRFA variance. Further, those building homes today are able to gain much more ﬂoor area by planning for the lowest level basement deduction which is not afforded to this existing home, so this variance simply levels the playing ﬁeld between older established homes with stepped foundations and those with extensive lowest level basement spaces. 3. The effect of the requested variance on light and air, distribution of population, transportation and trafﬁc facilities, public facilities and utilities, and public safety. Applicant Response: The bulk and mass of the existing structure remains exactly the same as was approved with the 2002 construction of the home and the 2011 remodel of the home. These spaces exist within the footprint of the home, whether they are GRFA or back-ﬁlled to a 5 ft. head height. There are no impacts to distances between buildings, which would effect light and air. The distribution of population is not effected by the variance request, and there are no impacts to transportation facilities, public facilities and utilities. The variance request improves public safety and welfare - as these spaces will now be brought to current Building Code requirements and inspected by Town of Vail ofﬁcials. As a result, the proposed variance complies with this criterion. 4. Such other factors and criteria as the commission deems applicable to the proposed variance. Applicant Response: The applicant will address any additional comments at the Planning and Environmental Commission hearing. 12 355 Necessary Findings: Variance The necessary ﬁndings for a variance refers to the ﬁndings listed in Section 12-17-6; Criteria and Necessary Findings. These ﬁndings are based off of a review of the criteria listed above. The following section provides an analysis of the proposed variance based on the necessary ﬁndings: 1. That the granting of the variance will not constitute a grant of special privilege inconsistent with the limitations on other properties classiﬁed in the same zone district. Applicant Response: As this ﬁnding is based on Criterion #2 in the previous section, please refer to the analysis above. To summarize, the site is constrained by a perennial steam and wetlands on the property. The wetland report recommended a stepped foundation with no site disturbance to occur within 5 ft. of the foundation. This type of construction method inevitably led to crawl spaces at the lowest level of each step of the foundation. These factors are unique to this site. Combine this with the fact that the existing structure was built just prior to the 2004 GRFA amendments, which created deductions for basement areas on only the lowest level. If this home had been constructed after the 2004 GRFA amendments, it may have been constructed in such a manner that would have more successfully maximized the basement deduction. However, that may not have been possible due to the physical constraints of the lot and a variance could have been requested so that the home could take advantage of basement deductions like other homes in the vicinity have been able to. The presence of the perennial stream and wetlands could have been a viable justiﬁcation for a variance. Similarly, the previous owner could have requested a GRFA variance prior to the conversion of the crawl spaces into GRFA using the stream and wetlands, along with the presence of the existing structure, also an identiﬁed justiﬁcation for a GRFA variance. Because there are unique physical characteristics of this site and structure that do not allow the home to be constructed in a similar manner as other homes in the vicinity which allow for a greater basement deduction, it is not a grant of special privilege to approve this GRFA variance. Further, those building homes today are able to gain much more ﬂoor area by planning for the lowest level basement deduction which is not afforded to this existing home, so this variance simply levels the playing ﬁeld between older established homes with stepped foundations and those with extensive lowest level basement spaces. 2. That the granting of the variance will not be detrimental to the public health, safety, or welfare, or materially injurious to properties or improvements in the vicinity. Applicant Response: Based on Criteria 1 and 3 above, the granting of this variance would not be detrimental to the public health, safely or welfare. 3. That the variance is warranted for one or more of the following reasons: a. The strict or literal interpretation and enforcement of the speciﬁed regulation would result in practical difﬁculty or unnecessary physical hardship inconsistent with the objectives of this title. b.There are exceptional or extraordinary circumstances or conditions applicable to the site of the variance that do not apply generally to other properties in the same zone district. c. The strict or literal interpretation and enforcement of the speciﬁed regulation would deprive the applicant of privileges enjoyed by the owners of other properties in the same zone district. Applicant Response: The owner understands that this is a difﬁcult request to make of the Town, but is looking to ﬁnd a reasonable solution for all parties involved and believe that there is justiﬁcation for a GRFA variance. The options for the current owner to rectify the situation created by the previous owner are not great for anyone involved: 13 356 1) Bring in enough ﬁll to re-create the original crawl space height of 5 ft. The physical challenges of completing this work are an unnecessary burden on the current homeowner, who was not responsible for the illegal construction to begin with. This also means the current purchased ﬂoor area will now disappear, affecting the function of the home. Also this is not practical because of the location of utilities and mechanical equipment at the rear of this spaces that must remain accessible. 2) Remove GRFA in other locations of the home to accommodate the GRFA created by the crawl space conversion. The removal of other spaces would eliminate more useable rooms within the home - bedrooms, living rooms, etc. This would be difﬁcult and impractical as those spaces are legal, permitted, and ﬁnished spaces that serve familial functions within the home. 3) Demolish and rebuild a home that could maximize GRFA and the basement deduction more in line with neighboring properties. While this is plausible, the current owners purchased this home with the intent of using the home - not an expensive and challenging demo and new construction project. Additionally, the site constraints on this property do not go away with a demo/rebuild. The site is constrained by the perennial stream and wetlands and when the duplex plat established the property line between Lot 1A and Lot 1B, it generally follows the stream and creates a compact buildable site area for Lot 1A. 4) Sue the previous owner. The current owner is pursuing all options before suing the previous owner for failing to disclose that these areas were not legally converted from crawl space to GRFA. Because the likely resolution is monetary restitution, the physical spaces will still need to be dealt with in a satisfactory way with the Town of Vail. The owner is signiﬁcantly affected while it will have no impact on the surrounding community. These all result in an unnecessary physical hardship to the current owner, who did not cause the situation, and the variance is therefore warranted. The site has extraordinary circumstances that do not apply to other properties to all properties within the P/S zone district - the perennial stream and associated wetlands on the site. These conditions created a limited buildable area for the home, along with more robust construction requirements such as a stepped foundation with deﬁned limits of disturbance of only 5 ft. from the perimeter of the foundation to protect the wetland vegetation. These same site constraints warranted the approval of a separation request from the Design Review Board. These can be as challenging, if not more, to be granted as a variance. In fact, in granting a separation request, the DRB must make a determination that the lot has signiﬁcant site constraints, as outlined in the following code section: § 14-10-6 RESIDENTIAL DEVELOPMENT. (A) The purpose of this section is to ensure that residential development be designed in a manner that creates an architecturally integrated structure with uniﬁed site development. Dwelling units and garages shall be designed within a single structure, except as set forth in subsection (B) of this section, with the use of uniﬁed architectural and landscape design. A single structure shall have common roofs and building walls that create enclosed space substantially above grade. Uniﬁed architectural and landscape design shall include, but not be limited to, the use of compatible building materials, architectural style, scale, roof forms, massing, architectural details, site grading and landscape materials and features. (B) The presence of signiﬁcant site constraints may permit the physical separation of units and garages on a site. The determination of whether or not a lot has signiﬁcant site constraints shall be made by the Design Review Board. SIGNIFICANT SITE CONSTRAINTS shall be deﬁned as natural features of a lot such as stands of mature trees, natural drainages, stream courses and other natural water features, rock outcroppings, wetlands, other natural features and existing structures that may create practical difﬁculties in the site planning and development of a lot. Slope may be considered a physical site constraint that allows for the separation of a garage 14 357 from a unit. It shall be the applicant’s responsibility to request a determination from the Design Review Board as to whether or not a site has signiﬁcant site constraints before ﬁnal design work on the project is presented. This determination shall be made at a conceptual review of the proposal based on review of the site, a detailed survey of the lot and a preliminary site plan of the proposed structure(s). It is because of all these factors that the strict enforcement of the GRFA regulations would deprive the applicant of privileges enjoyed by the owners of other properties in the same zone district. Because the existing structure was completed just prior to the major overhaul of the GRFA regulations, it was unable to take advantage of the changes to the basement deduction which more recently constructed homes are permitted to do. This, combined with the physical site constraints, deprives the applicant of the privileges enjoyed by other P/S zoned properties. 15 358 Conclusion The current owner was unfortunately placed into this situation by previous owners who illegally converted crawl spaces into GRFA. This information was not disclosed to the new owners and was only discovered when they submitted permits to the Town for a remodel and the areas were shown correctly and accurately on the plans. The owners would like to resolve the issue - both for their current ownership of the home and so that these issues do not arise for any future buyers. The owner is requesting a GRFA variance to allow these spaces to remain. It equates to a request of approximately 660 sq. ft. in excess of allowable GRFA for the property. The owner understands that this is a difﬁcult request to make of the Town, but is looking to ﬁnd a reasonable solution for all parties involved and believe that there is justiﬁcation for a GRFA variance. If approved, the applicant understands that these spaces will need to be updated to current building code requirements and will undergo the appropriate permitting process with the Town to ensure that all life safety requirements are met. These spaces are almost entirely underground and have no impact on site coverage or building height as they are below existing ﬂoor area or garages. No changes were made to the exterior of the home to accommodate these spaces. There are no windows into the areas. They have no impact on adjacent properties. There are identiﬁed site constraints on the property: a perennial stream and wetlands. These site constrains were found to be signiﬁcant enough to warrant the approval of a separation request for the home’s original construction in 2002. These site constraints also dictated the construction methodology - a stepped foundation that created crawl spaces at each step in the foundation. Because the basement deduction is only granted at the lowest level of the home, the structure is limited to basement space to a greater degree than other properties zoned P/S in the vicinity. As identiﬁed during the review process of the GRFA, all of this could justify a variance from the adopted GRFA regulations. The applicant respectfully and humbly requests a GRFA variance to allow these spaces to remain. Thank you. 16 359 l . l MATERIAL YMBCJL.: r r i---. ( i.._._._k t i.— _ __.__ _ i ;- i - EARTH _ e a 1 ,' ; J ; _" _-- fi? ,'' PURrJUS FfLLIDRAlNAGE --° ( ,._.mf,°- ii'/ r/' ` %/r '. -='" F i%fi ir';1 STONE MASC?NRYi'l ,'/i J / -- bp ' °. : STRUCTURAL GONCREfE - x CONCRETE MASC7NRY UNIT i I`` , ,l j BATi INSU ATfON RiGlt INSULA71C7N STEEUMEfAL AS 1tJTED GARPET Gi7 iIs 3,fiE.,tlilllli i f A4.OQ r' BUILDING SECTlQN f EFERENGE FINISM WQ4Q i '• BLOGKING sur soa a A4.Q0 ,'.. X ELEVAT4C?N REFERENCE i A4.OQ , A4.Q0 QETAIL REFERENCE MEIGNT REFERENCE h`>:; :'{.:yikr f.r'.;C. b:.., kf 'a: >'` F h N i^rr,s:cr.r'r'''e'x^.. x:wrs°"'srss,iS% . REVISIC N REFERENGE r ,1 r : :: 9 4 A8.1 `:- 2 8 1NTERIC>R EI.EVAi'ION REFERENGE 33 C t3C7R TAG AR+CHITECT: SUMAN ARCHITECTS P.O. Box 7760 AV4N, COL.ORADQ 81 b20 97Q.479.7502 470.479.7511 FAX CONTACT: MICFiAEI. SUMAN EMAIl.; rnichael@sumanarchitects.cam DE1'AIL REFERENCE A4.4(1 ' —.. SECTIQN REFERENCE i . ROQM NAME W11 I WINDC?W TAG STN ---f-*- TI LE MATERIAL BREAK i • . : . i • ABV ABOVE AFF ABOYE FINISHED FLOC;R AP ACCESS PANEL AC ACQUSTlCAL ADD ADDENDUM AC3J ADJACENT ALT ALTERNATE ALUM A UMINUM ARCH ARCHITECT (URALj BSMT i3ASEMENT BRG BEARING BVL BEVELED BIT BITUMINUOUS BLK BI.00K BLKG BLC?CK(NG BC7T BOTTOM BLDG BUILQiNG CPT CARPET {ED} CSM7 ASEMENT C CAULK ING} CL GEILING C7 CERAMIC TILE CLR C EAR Gt?d CARBON MC}NC?XlDE DETECTOR C L C)LUMN CQNC CC7NCRETE CMU CONCRETE MASC3NRY UMT CC)NST CtaN TRUCTION CtJNT CONTINUOUS CJT C4NTR+L JC31NT PR CC?PPER CUST CUS70M DT Df2APERY TRC?UGH DTL DETAII. DI1vt D(MENSION DR DOQR QRW DRAWING QF DRCNKIN FCJUNTAIN ELEC ELECTRIC (A j EL ELEVATION (S} ELEV E EVATOR EQ EQUAL EXH EXNAUST EXTG EXISTING EXT EXTERIOR F(JC FACE OF CUNCREI'E FOF FAGE OF FINISH FQM FACE OF MASONRY FQS FACE OF STUDS FiN FINISH (ED) FFE FINISHED FL GR ELEVATIC?N FE FIRE EX7INGUISHER FDC FIRE DEPARTMENT CQNNECTI(JN FHC FiRE H(JSE CtaNNE TION FEC FIRE EXTINGUISHER CABINEI" FP' F)REPLACE FPS IREPRC OFlIVG, SPRAYED FLG FLASH{NG FLR FLC?OR (ING) D FLOC?R DRAIN FTG F 4TING FNa FC)UNDATIflN FBO FURNISHED BY OTHERS FPHB FREEZE PRU}F HC7SE B!B FUR FURR D (INC} GA GAGE, GAUGE GALY GALVANIZED GC GENERAL CONTRACT (O[Z} GL GLASS, GLf ZING GYP GYPSUM Bt ARD HB NOSE BIB HDW HARDWARE NDR NEADER HTG HEATING HVAC HEATINGIVENTiLA71NGfAC NT HEIGHT NC HC)L OW CQRE NM H4LLClW METAL HfJR H(JR#ZCINTRL HWH HOT WATER HEATER INCL INCLUDE (Dj, (INGj 1D lNSIDE RIAMEfER IBC iNSTA LED BY CONTRACTOR iBC} 1NSTALLED BY OWNER INS 1NSULATE (D), (ION) INT 1NTE CIQR JG JANITOR'S CLQSET' KIT KITCHEN LAM LAMINATE {D) LAV LAVATt}RY H LEFT HAND E L LENGTH LDT LIGHT AND DRAPERY TRC)UGH LT IGN7 TROUGH l.T LINTEL LVR LOUVER MH MANHC3LE MFR MANUFACTURE (ER) MO MASC?NRY C7PENING MT MEiAL MAX MAXIMUM MECH MECHANIG (AL MC MEDICINE CAB1NEf MEM u1EMSRANE M METER (5j MM MILLIMEtER (Sj MiN MINIMUM MiR MIRROR MISC MiSCELLANEOUS MULL hhULLION NAT NATURAL NR NOISE REDUCTI4N N(JM t C7MINAt NIC NOT IN CONTRACT NTS NOT TO SCAI.E OPG C?PENfNG QPP C3PP(SITE OPH CJPPQSfTE HANd CiN OVERHEAD PR PAIR PK PARKING PVMT PAVEMENT PL PLASTlC LAMINATE PT POINT PSF P UNDS PER SQUARE FOOT PSI PQUNDS PER SQUARE INCH P PROPERTY INE QT QUARRY TI! E ` REF REFERENCE REF REFRIGERATQR REIN REINF(JRCE (Dj, (!NG} REQ REQUIRED RES RESILEENT REV v s oM (. (r) REV REVERSE RH RIGHT HAND R RiSER R&S ROD AND StiELF RD RC7CJF DRAIN RDT RECESSED DRAPERY TRACK RFG ROOFI IG RM RUOM RQ RC3UGH UPENING RJS ROUGH SAWN S SEALANT (EXTERIC7R) SHTG SHEATHMNG SHH SHQWER HEAD SHC SHOWER CONTRO S SM SHEET METAL SIM SIMILAR SG SOLID CQRE SPEC SPECIFICATC>tJ (S) SQ SQUARE STD S7ANDARD ST STAIN STl. STEEL SD STQRM C7RAIN STR STRUCTURAL TEL TELEPH4NE TV TELEV1SlQN THR TNRESHOLD T& TQNGUE AND GRC7C)VE TOS TC>P C F SLAB TOS TQP 4F STEEL Tt W TQP UF WALL TB TC?WEL BAR TR TRANSOM T TREAD TYP 7YPlCAL UNO UNLESS NOTED aTNERWCSE VB VAPOR BARRIER VIF VERIFY !N FfELD VERT VERTICA YGT VINYL CQMPQSlTiC7N WC WATER CLUSEf WP WATER PROOFIhJG WWF WELDEQ WIRE FABRlC W WIdTH, WIDE WDW WfNaC3W WU WlTHQUT WD WOOD O1 C7tJ NC3T CALE C RAWlNGS Q2 YERIFY ALL DIMENSIONS, CC7NDlTI4NS AND UTlLl1Y LOCATIONS C N THE JOB 51TE FRlO fiC7 BEGINNING ANY WQRK C R C?RDERING AhIY MATERiALS. nC?TIFY ARCHiTECT QF ANY CQNFLICTS OR ISCREPANClES IN THE DOCUMENTS 1MMEDIATELY, 03 AREAS OF Ct NFLICTS QR DISCREPANClES MUST BE FULIY RES{LVED WITH WRlTTEN APPROVAL FROM TNE ARCHITECT BEFORE C NSTRUCTION CC7NTINUES !N TNOSE AREAS. 04 PLAN DiMENSIONS ARE TO FAGE OF STUD OR FACE OF CQNCRETE, UNLESS OTHERWISE NOTED. SECTfON AND ELEVATIC7N DIMENSIONS ARE TO TOP C?F Ct NGRETE, TC7P OF PLYWOt7D, OR TOP OF WALL PLATES OR BEAMS UNLESS t THERWISE N(JTED. 05 PROVIDE A L NECESSARY BLOCKING IN S7t1D WALLS ANQ CEILINGS. LOCATIC7NS INCLUDE BUT ARE NOT 1MliED i'O GElLING AND WALL MQUNTEG FIXiURES, TOILETS, TC71LEf ACCESSORIES, CABINETRY, GOUNTERTQPS, SHELVES AND CLC SET RQDS. O6 DENOTES dC}C7RS. REFEC2 TU FLOQR PLANS Ft7R OCATlUNS. REFER TC? DOOR SCNEDU E FC}R DOOR TYPES. 07 Q DENQTES WINDC7WS. REFER TO WlNC?OWS AND FLt OR PLANS FOR LOCATI NS. REFER T WINDOW SCHEDU E FOR WINDOW Tl'PES. Q8 CC7C?RQINATE ALL E ECTRiCAI RND MEGHANICAL FIXTURES TO FIT WITH3N CEILfNG, F C}R AND WALLS SPACES. VERIFY LQCATIdNS WITH ARCHITECi'. 09 IN THE EVENT TMAT ADDIT1tJNAL DETAILS OR GUIDANCE IS NEEDED BY TME CQNTRAGTCJR FC7R CC7NSTRUCTIC)N OF ANY ASPECTS OF THIS PROJECT, THE CQf TRACTt R SHALI. IMNtE lATELY Nt 71FY THE ARGHITECT, 10 THE CONTRACTC?R SHAL BE RESPC7NSIBLE FC?R SATISFYING ALL APPLICABIE CC7DES AND OBTAINING ALL PERMITS AND REQUiRED APPROVALS. THiS PRQJEC7 IS GQVERNED BY THE INTERNATIOhlAL BUIL,DING CC?DE, 2 fl3 EDlTi4N. CUDE COMPI.IANCE IS MANDAT4RY.1'HE GONSTRUCTIt?N C1C3CUMENTS SHALL NOT PERMIT WORK THAT DQES N4T Ct NFORM T ALL RELEVANT CCJDES fNCLUpING !BC AND ALL LC7CAL AND REGIONAL CUDES. 11 THE GONTRACTQR SH.L FIELD Ct?C1RpINATE AND OBTAIN APPRC7VAL FRC M THE ARCHITECT 8 ENGINEER BEFORE ANY CUTI'ING, NC7TCHING OR QRILLiNG t7F ANY CAST-IN-PLACE ONGRETE, S7EEL FRAMING, C7R ANY OTHER STRUCTURAL E EMENTS WHfCH MAY AFFECT THE STRUCTURAL INTEGRIiY CJF THE BUILDlNG. 12 THE CONTRACTC?R Si1A L VERIFY ALL EXISTING GRADES AND STAKE C7U7 THE BUILDING FODTPRINT FC R OWNER AND ARCHITECT APPR VAL PRICJR TC 8EGlNN1NG A JY 51TE WORK. 13 IT iS THE fNTENT AND MEANfNC OF THESE DOCllMENTS TNAT THE . CONTRACTOR AND EACH SUBCONTRACTOE2 PR VIDE ALL LABQR, MATERIALS, TRA lSPCJRTAl'IC}N, SUPPLlES, EQUIF'MENT, EfC. TQ C?BTAIN A CC MPLETE JOB WITH{N THE REGOGNIZED STANDAR S OF THE lNDUSTRY. 14 AI.L BUlLDINGS TC7 FIT WITHIN PRCJPERTY LINES WITHOUT CRQSSWG EASEMENTS C7R SETBACKS, NC771FY ARCHITECT O ANY dISCREPANClES. 15 PR{7ViDE ACCESS PANEL TCJ MOTOR Ft R ALI. WHIRLPOOL-TYPE TUBS. COQRDINATE ACGES LQCATIC3NS WITH INTERIdR DESIGNER AND ARCHI3ECT Tt PRUVIDE INCC7NSFICUt US L4CAT(QN. 1 v i 1i111 mM.[. i . Code: Internatianai Residentiai Code 20(}4 C)ccupancy: Qne-Family Dwelling Separations: 1 Haur (residence/garage} t Hour (residence/mechanical} S ecial Attributes: InteSligent Addressabl fire Alarm 1 1 w i ' f . . . • i . a A ' ` i w f . 1 r ! • ' i a a . i f ra;. a ;n s CG1PY RIGNT t.IESEF2VATIt N The drawings, specifications and other dacuments prepared by the Architect (Michael Suman Architect, LLCj far this prc ject are instruments of the Architect's service for use sofely with respecfi to fihis Project and, unless atherwise provided in writing, the Architect shall be deemed the sole and exclusive author of these documents and shail retain, withaut lirnifiation, all comrr on faw, statutory and other reversed rights, incl ding the copyright hereof. I o persan, whefiher having come rightly into poss ssion hereof or otherwise, shall empioy these dacum nts an any c ther pr ject, nor for additions to this Project nor for the compietifln of this Project b/ others, unless with fihe prior express written consent of the Architect and upon apprapriate campensation ta the Architect in an amount and kin i satisfactory to the Archit et. 7he Architect expressiy claims ali proprietary rights in the material which is issued in cor fid nce for design and/or construction purposes of this Projecfi as noted, ihese materials may not be copied, madified, nor employed in any way withaut the specific priar written consent pnd permission of the Architect. O Ol 1 Michael Suman Architect, LLC. Ali rights reserved. 4 lSSUED FOR: DATE: DRB APPLICATtON 10. 94.11 DR8 RESPONSE 1Q.31. ? 1 1 2d11 MICHAE SUMAN A ALL RIGf-tTS RESEf2VED. SCALE: DRAWN: MDS aa cr: a SHEET TfTlE: COVER SHEET GRFA Variance Request 387 Beaver Dam Circle Lot 1A, Blk 4, Vail Village 3rd Plans: September 24, 2024 Removed Primary Unit Plans - 2014 addition modified home --- --- 360 x ,. ' Jb'{'jjY!/ f jj( s * , 3 * e 9 t , ` . .. . jr T#+'6+M _ ... t . . ... .. . . . t' ... ... _ . . " RMY I t - . ' P e . t , ` ',c, '' "'^,.,, ` . , '"""*-«,,, " , . 1. N r . ......„ .,,,,,w, ' ' a e , • t.i '" `"`. , '' i T t j' }S{Y4 * + t '?5 j r .. .. .. . . .. . .... .. . ... . . . .. . M i.nw+i . i i ... .. . . . .. . _ . . . . . . . .. y . . . . . . . . . . .. . . . ._ ... _ v 4^' ' yyt+r,y. p A J ` V 1 '"" ' " , , ' C + , A T ` rrxa r rr r,, d . ., , 1r '`" x . , 4 . { ... `' . 4 _ t w,. . ° `~, ,1'T t, i t+ IP`+ , , +,,.,,,,,,,.s, ,, .,~ *, , 5 ' . . w+ lv,r fi; V il ? c r r w c i . .,. :..,. ,, v, ca I R C w", y.,.,, '%1 .47*a x "" -. . : ca,s} i w ..,, F . . r a . m , y . ` . v s r: `, ' a '` ' ! 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J .- - I . ` ' y . .. . . . . .. . . ... . . . . ... . ...... _. . .. . .. _ .. . . .. . . ... . ... .. . . . . . . . . . . . .... . .. ... . . . . . . . .. . . ..... .. . . .. . .. . . -.. . .. . .. . .. .... . .. . .. . . . . . . . . . . 1` aif fJjK}p# q+ y. a l"""'itFMw hW ' . ... ^ _ **. e^ . F e'.. . ... .. .. . . .. . . . ... . ... .. ... . .. . .... . . . .. .. If" ht .. II } t , ' { , ,, ""') ,l ""'j "' *{ y ! t h s + . # ?"'•'t ! '+rt 1 1 r+ .f . ."' f ° t, * 6 , '' « + ' , . a r^^...._..... . . . . , . ._:.. .. , b . . .. F t 1» i I°+'' r' r» , c.. , 8 ., °._ ..w _ . , .......,. u...,. 1`'f"r,, i t i* 1i : '' GRFA Variance Request 387 Beaver Dam Circle Lot 1A, Blk 4, Vail Village 3rd Plans: September 24, 2024 361 l I f '. e%i u ti/ l t s. • : . . . .... . : A2.1 SCACE: 1I4 = 1'_0' NERAL Nt`ES: 1. PLAN ELEVATIONS REFE{ENCE CJRIGINAL CONSTRUCTION DRAWINGS 2. DIMENSIONED WALL OPENlNGS ARE RC?UGN OPENING QIMS. U,J.N. COC}RDiNATE INTERMEDIATE P4ST C}IMS.INITH WIN t W lv1ANUFACTURER Rt UGH C PE lING aIMENSlONS. 3, COtJTRACiC?R TC7 VERIFY ALL WALLJFLOC?RJRC C} SYSTEMS, AND MECHANICALIELECTRICAL SERVICE LOCATIC NS AND RC7UTING, 4. SMC7KE DETECTQRS T{: BE INTERCONI ECTED PER fBC CODE -HARDWIRE 5. CARBON MUNt XIDE DEiECTORS TO BE 1NSTALLEC? PER iSC i. DO NdT S ALE DRAWINGS, IF DIMENSIC7NS ARE IN CONFLICT QR DCa NQT APPEAR C?N THE GRAWINGS, NOTI Y ARCHITECT, 7. ALL Pl.AN QEMEl SICJNS LOCATiNG PARTlTIC7NS ARE TQ FACE C1F STUD QR BLOCK WA L FACE, U.N.C7. FINlSH DIME lS1dNS ARE TC THE FINI5H FACE ARlD N4TES "FiN"' Q!2 °CLR". 9. REFER TO LIrHTING ANC3 LOW VO.TAGE D€2AWINGS F4R CQQRDIPJATIC N. 10, CC?C>RDIhlATk BLCJC ING FOR BATH HARDWARE WITH INTERIOR ELEVATIJNS PARiITIC3N LEGEND: i"%''"',F; : r <<;, NEW WALI. CQNSTRUCTIQN rl EXISTWG WA CC7NSTRUCiIQN Y°;"".,"' NEW STC7NE VENEER Tfl REP(.ACE EXIS7ING z t i¢'i a r?,' 'aft` fr `. s3 1%'',. i? ,f. !¥c.f .:( 1 4E . o t f .* b L :r t; t r, - '-; r ' e... ._ _ .. __,n.....m_ ,..,'. v;. r„# p A W C3 w'' ' i' {lw 7". a i"' 1SSUED FOR: DATE. DRB APPLICATtON 90, 94.19 DRB RESPONSE 90.31.11 2011 MICHAEL UMAN ARGHITEGT, LLC. ALL RIGHTS RESEftVED. SV.G. l 4n! x DRAWN: MIJS PROJECT #.• 9199 SHEET TITLE Ft0(?R PCAN 127 sq. ft. GRFA Variance Request 387 Beaver Dam Circle Lot 1A, Blk 4, Vail Village 3rd Plans: September 24, 2024 362 i l t' . SCALE: 1 /4" = _0 GENERAL, NQTES: 1. PLAN ELEVATIQNS REFEREt CE C RIGINAL CONSTRUCTlCJN DRAWINGS 2. DIMENSIONEQ WA(.L OPENWGS ARE ROUCH 4PEMNG DIMS. U.C.N. COORC7INATE INTERMEDIATE PCJST C}IMS. WITH WI iDOW MANUFACTURER RQUGH aPEMNG DIMENSIONS. 3. GC}NTRACTOR TQ VERI Y ALL WA LJ LOQRJRC flF SYSTEMS, A 1Q MECHANICA/ELECTRICAL SERVICE LQCATIQNS ND ROUTING. 4. SMfJKE €E1'ECTORS T BE INfiERC{NNECTEC PER IBC CC7DE -HARdWIRE 5. CARBC7N MON XIDE DETECTCaRS TO BE iNSTALLE[ PER iBC b. DO NC3T SCALE DRAWINGS, fF DIMENSIONS ARE Ih! CC7NFLlCT t R DC7 NC T APPEAR UN THE DRAWlNGS, NOTIFY ARGHITECT. 7. AL PLAN QIMENSIC)NS C CATINC; PARTlT1CJNS ARE TQ FACE OF STUD OR BLOCK WALL FACE, U.N.C7. 8. FINISH Dltv!ENSI4NS ARE T{J iHE FEN15H FAGE AND NOTES "F6N" fJR "CLR". 9. REFER T4 IGNTING AND LOW Vt LTAGE DRAWINGS FOR COC RDINATIC7N. 10. COORDINAT BLC3CKING FC7R BATH HARaWARE WiTH INTERIC?R ELEVATIC7NS P 4Ri1T14 iECE[3: NEW WAL C(NSTRUCiION i EXISTWG WAL CCJNSTRUCTI4N NEW STC3NE V NEER TQ REPLACE EXISTING f =.f '` >. i=f(i # ? 1.,'a,' t r,. t; , c,?rs tfi`h r'" di k`\,,„ Fr, z; cw a rys Y Q y," 3« ti 3 i yN ^ C'^1 t ' a i tSSU D FOR: DATE.' DRB APPLICAitON 10.14. 91 DRB RESPONSE 90.31. 9 9 2011 MtCHAEL SUMAN ARCHRECT, llC. J A L RIGNTS RESERVED. SCALE: ?l4" = 9 -p" DRAWN: MDS PRDJECT #. 1911 BHEET TITtE: FLDOR PLAN 345 sq. ft. 317 sq. ft. GRFA Variance Request 387 Beaver Dam Circle Lot 1A, Blk 4, Vail Village 3rd Plans: September 24, 2024 363 A4.1 i I i 1 EXlSTiNG GARAGE DUOR TC7 REMAIN RE-LQCATE E ECTRICAL - • PANELS TC7 WALL BELOW ' NEW QPENiNG IN -- ' 3 1'-Q° EXTERiGR WALL 1 „• 4la' ; g -./d . I NEW TIMBER COLUMN - • LINEAR EXTERIC7R ' WAL(. LENGTH = 73'-0", ' 26% = 1$'-3" . CQVERED up PARKING 2 @ 6° 301 1 ' @ 11.5" 1N15H FLaOR f EL: 109`-8112, NEW TEPS AND NDIhIG -- -- : u ± : FQR ENTRY DOOR 4 ox a F_ Crvisrt_ooR . . t, a .; . _ . . .STA R.2. Y E' 10'-8 "1(2'" - ` : 303 f ,PY. . , r I s 7° a. c``:„ NEW ENTRY DOC7R -- t = I Lt GAT(C7N-MOVE ! --Y3 T @ 11.5" 16 T @ 11.5" , ELECTRI AL PANE ----- - __. __ __ _ __ __ --- - - - -- C 0 i — ` i j/ , MASTER BATNR 44M V a • a • _ _ _ .. .._. .. _ .. _ _ . _ . NEW STAIR --- ;-- - - - L.1 TU MAW AND '. - -- - - - :,; x GUESi LEVELS ' i i f • ' h.i — — _ WALL INFILL AT --- xisr N oaau _ LOCATION `_° m i 1 .. j 4 ' _ f; 3 9Ya" 2 i j j A4,2 ' r____ i ! i ; MASTER ' ; r i ' BEDROOM . ` 305 -- ---t FIN_ISN FLOOR \ Y El.: 111'-0" ; j ". ; r ............................... ;............................... i i ' i i. STORA E 307 v ...a._ ._._._.a. / ._.... a .. m. ____. .._._ ._..._. OPEN TQ ' BELC7W , ti 1 f r ) `- i` j a ELL:. i A2.s sc ai: 1 4 = `_o„ ENERAL N4TES. l. PLAN ELEVATIC7N5 i2EFERENCE OR{GI IAL C NSTRUCTION DRAWINGS 2. DIMENSIONED 1NALL C7PENINGS ARE R4UGN C PENWG DIMS. U.O.N. C4 7RaINATE INTERMEC3IATE PtJST DIMS. WITN 1NWD4W Cv1ANUFACTURER RC UGH UPENlNG DIMENSIONS. 3. CONTRACTOR T VERiFY ALL WA L/FLQCJR/E24dF SYSiEMS, AND MECNANiCAt/EIECTRiCA. SERVICE LUCATIONS AND ROUTING. 4. SMC)KE DETECTURS TC3 BE {NTERC NNECTED PER IBC GODE -HARDWIRE 5. CA4BC7N MrJN(JXIDE DETEGTORS TO BE INSTALLED PER IBC 6. DU NOT SCAI E DRAWINGS, IF DIMENSIONS ARE fN CONFLICT QR DC N T APPEAR t N THE DRAWINGS, NOTIFY ARGHITECT. 7. ALL PLAN DIMENSCONS L CATING PARTITIOhJS ARE iQ FACE C F STUD OR BLOCK WALL FACE, U.N.C7. FINISH DIMENSIONS ARE TQ THE FINiSH FACE At D tJOTES "FIN" OR °CLR". 9. REFER TQ LlGHT1NG AhID L{W VOLTAGE C RAWINGS FOR CC70RD1NATiCJN. l0. C4QP,DINATE BLQCKING FC}R BATN HARDWARE WIT-I INTERIC7R ELEVATIONS PARTIT C3 1EGEt C: NEW WALL CflhlSTRUCTION c'""` EXISTlNG WA L CUNSTRUCTION 1 :; NEW STC7N VEI ER O 2 PLACE EKlSTING IA AIO rO i I s j r. 1lt= . Wf YS: u r'# '. t1Ci,J l C #*" ' ' °>( fiy*: f , t ` u _ ,. _ . Z Q F . o J , r 1 4 p dt z i F J w 7*' J SSUED 'f7R: DAiE: DRB APPLtCA71C1N 90. 14.91 DR8 RESPONSE 40.39.99 2011 MICHAEL SUMAN ARCHITEGT, LC. ALl RIGHTS RESERYED. SCALE. 9/4" = '-0" t7RAWN: MDS PROJECT #.` 1111 SNEET T1TLE: FLOOR PLAN 1 GRFA Variance Request 387 Beaver Dam Circle Lot 1A, Blk 4, Vail Village 3rd Plans: September 24, 2024 364 I i . i , i . 3 • f . 4 . r. '.'_" xr4 , t., a. .'zi ti'i- V5t , v l.... . . . . . . . . . . I w . r • SCALE: ' I° = '{ -C}f r E%i c c s: 1. PLAN ELEVATIONS REFERENCE iJRkGINAL CC?NSTRUCTION RAWlNGS 2. DIMENSIC.7NED WALL t PENING AE E R UGH t PENING DlMS. U.O.N. CtJORDlNATE INTERMEDIATE PC7ST aIMS. WCTN WWC7C3N/ MANUFACTURER R UGN C}PENiNG dlMENSiCJNS. 3. CC7NTRACTOR TO VERIFY ALL WA L/FL fJR1ROCJF SY5TEMS. AND MECHANICALI LECiRICAL SERV(CE LOCATIONS AND RQUTING. 4. St hC7KE DETECTC?RS `iQ BE INTERCC7NNECTED PER IBC CODE -HARDWIf2E 5. CARBfJN MC7RI XlD DETECTC?RS TU BE INSTALLED PER IBC b. Dc NOi SCAI E DRAWINGS, iF DIMENSI(JNS ARE IN C4NFLICT C7R DQ N47 APPEAl N THE C RAWINGS, C C7TIFY ARCHiTEGT. 7. ALL PLAN DiMENSI{NS LC?CATCNG PARTITlONS ARE Ta FACE OF STUQ OR BLC:3CK WALL FACE, U.N,C7. 8. FINISH D(MENSIONS ARE T{ iHE FINISH FAGE ANQ NQTES °FIN" 4R "CLR". 9. REFER TC) lGHTING A 1D I.CJW VC LTAGE DRAWINGS FOR CC)ORDINATION. 10. COQRC7INATE BI.QCKlNG FOR BATH HARDWARE W1TH Ii TERIC7R E EVATlONS P RTITIt N LEGEI; 1e„ NEW WALL CONSTRUGTIt N 1 EXIST{NG WALL CC7NSTRUCT1t N r r,:;> "'"' NEW STGN VENEER T4 REPLACE EXISTING z' , _ . `<; r t °%t a.;, f t. ? e o Es c.l..t :-; tt ° ' g u - f. ,..u6ca.-..,-..- .. n^.,°^°.^^.^. u..a.a-; i" w i , '' e P011 MICHAEL SUMAN ARCHITECT, LIG. All RIGHTS RESERVED. SCAL 9J4" _ ?'-0" DR4WN: MDS PROJECT #.• 1911 SNEETTI'LE: FLODRPLAN GRFA Variance Request 387 Beaver Dam Circle Lot 1A, Blk 4, Vail Village 3rd Plans: September 24, 2024 365 i/ 3 A4.2 ' A4.2 A42 " i ' ' scAL: 1 /4" = 1'_0„ GENERAL NOTES; 1. PLAN ELEVATiO JS REFERENCE ORIGCNAL C(3NSTRUCTIC7N DRAWINGS 2. QIMENSiONEQ VdA OPENiNGS ARE R{UGH C PE IWG DiMS. U.O.N. CC)tJRDlNATE INTERMEQIATE PGST DIMS. WITH WINDQW MANUFACTURER ROUGN OPENlNG QiMEN IC NS. 3. CC>NTRACTCaR 3O VERIFY ALL WALG/FLC>QR/RrJOF SYSTEMS, AND MECHAN(CAL/ELECTRICA SERVICE GOCATIONS ANQ ROUTING, 4. SMOKE DETECTQf2S TQ BE INTERCC.7NNECTED PER IBC C{.?DE -NARDWiRE 5. CARB N tv1 NOXIDE DETECTC?RS TU BE INSTALLE[7 PER (BC b. QCa NC T SCALE C RAWINGS, 1F C lMENSItJNS ARE IN C{NF ICT R DU NC)T APPEAR C7N THE DRAWINGS, NC7TIFY ARCHiTECi'. 7. RLL PLAN DIMERESIC7NS LQCAT(N PARTII'lt ES ARE TO FACE {F STUD dR BLUCK WALL FACE, U.N.O, 8. FINISH DIMENSIONS ARE Tt? THE FiNISH FACE AND NC?TES "FtN" OR "CLR°. 9. REFER TC LI HTING AND I.fJW VC?LiAGE DRAWINGS FOR COORDINATIQN. 10. C{C}RDINATE SLQCKING (R BATH HARpWARE WITH INT RIUR ELEVATIONS NEW WALL CUNSiRUCTIC N C i EXISTlNG WALL CC7NST 2U 7iUN NEW STONE VENEER Tt REFLACE EXISTIt G w ' ; ` , ' A r`_ t € P " ;... .. „,'"- .. I , _.. .. ....._ c t n,c a c. c,.a r~-l+ ,..'l.. s s i lSStIED FOR: DATE.' DRB APPLICATION 10.14. 91 DR8 RESPQNSE 90.31.'11 2011 MICHAEL SUMAN ARCHITECT, LLC. AlL RIGt TS RESERVED. SCRLE. 914" = 9 =0" DRAWN: MDS PROJECT #: 9 99 SNEET TtTLE: ROOF PtAN GRFA Variance Request 387 Beaver Dam Circle Lot 1A, Blk 4, Vail Village 3rd Plans: September 24, 2024 366 f i z i U I I T..- -- ---- -._._ _._ ._ _..- -- -- --- I:JSISi ING RKC145: LOWER LEYEL 97A SQ. h?. MAIN LEVEI 1.359 54. FT. GARAGIMA3TER &td SQ. P'f. UPPEFi LEVEL 0 SQ. FT. EX#STING SUB7QTAl 3,095 SQ. FT. ADD1710N AREAS: IOWEFt LEVEC d74 SQ. FT. MAIN LEVEL 61 SQ. Ff. GARAG/MASTER '144 ^uQ. ET. UPPE12 EVEI 628 SGt. FI'. PROPOSED SU67£7TAt_ 1,267 S4. FT. sns t ror c rr ts) rss) s4. r. TdTAL PROPOSED GRFA 3,569 SGt, FT. AI pWABLE GRFA 3.566 SQ. FT. 707At StTE C0IXERAGE 6,80U SQ. Fi'. ALLOWABLE S17E COYERAGE 7.653 SQ. F=T. RESIDENCE GAfA CALCIlLATIONS -SECONDARY 4NLY: EXISTING AREAS: IOWER iEVEI 920 St2. FT. MA1N LEVEI i.359 SQ. F1'. GARAGiMhSTER 8i4 5Q. FT. UPPER LEVEL D SQ. FT. EXI571NG SUBTOTAL 9,093 SQ. FT. ADD[7ION AT2EA3: a ow .ve a7a sa. Fr. MAIN LEVEL fi9 SQ. Fi'. GAi2NGYMASIER 104 SGI. FT. UPPEi2!_EVEL 628 Stl. Ff. PR4PQSED SUBT4TAL 1,267 Si. FT. ens rar caenrr ts crs sct_ Fr. 5 TQTAL PROPOSED GRFA 8.565 SQ. FT. r.uawnas. c n a,sss s4. Fr. TOTA SITE GQVERAGE 5.600 SQ. FC. AL OWABLE SFTE COVERAGE T,5S8 Stt. Ff. i 1/_ r • 1 i`3' ' RESIDENC£ GRFA CALCULATIONS - SECON6ARY t}NLY: EXISiING J REAS: LOWER LEVEI 920 SQ. FT. MAtN LEVEL 7,359 SCk. Ff. GARAG/MASTER 894 SGl. FT. UPPER LEVEL 0 SQ. FT. EXISTINCs SUBFOTt1t 3,093 SQ. f?. ADDfT10N AFiEAS: LOWER LEVEL 474 SGt. FT. MAIN IEVEt 61 S4. F1'. GARAG/MASTER 104 SQ. F`f, UPPER LEVEI. 628 SC1. Fi. PF20P4SED SUBTOTAI 1,267 SQ. FT. BASEMENT CREDIT (5796) . [795) SQ. F7, TOTAL AROPt?SED GRFA 3,565 SQ. FT. N1,LOWABLE GRFA 3.56Cr SGt. Ff. TOF/U. BiTE COVERAGE 5,60d SQ. FT. t1L40WA8 E 31TE COVERAGE ?,653 SGi. FT. i . . • . , RESIQENCE GRFA CA CUt14TtONS - SECONDARY ONLY: IX18TING AREA3: C?WER LEVEI 920 SQ. FT. MNN 6EVEL 1,359 SQ. FT. GARAGlMASTER 81A SQ. Ff. UPPER LEVEL p SQ. FT. EXISTING SUBTOTAL 3.093 SQ. FT. ADR1710N AREAS: avr n a sQ. F-r. MAIN EVEL 61 SCt. FI'. GARAG/MASTER 1Q4 SQ. fT. UPPER LEVEL $28 SQ. FT. Pf20P08ED SU87lJTAl 1,287 SQ. FT. BASEMENT CREDIT (5T°,6) (785} SQ. FT. T4TAL PRC3PdSED Gf2FA 3.565 SQ, FT. ALIQVYABLE GE2F'A 3,556 S4, FT. TOFA{. StT E GOVERAGE 5,600 SLI. I'. At.LOWAOLE SITE COVERAGE 7.553 SCT. F?. ti i I I L ___ ___ _ _ ---- -- - J i li 11 I I il II I i4 il fl 1 i1 i r , :t y , lp- f ; t U f.._..C t C;ti# .'.. f jtr.: i ii I` ti ti:% 5 tuJ1, G ,Y-- x, . - ry d . „_: 3,. "" 2.a< . _..:_—+ e..:.:_ -Y_...,.....„.-.•—.-- , . st w w. n, u • s i if tssuEn c: var: r•: • •• i 2011 MICNAEL SUMAN ARCfiIT£CT, ALE_ RIGHTS RESERVED. s7l3riL.E. 7/ G7X ,}/ /' rXn i' t f RVJi V ! lY. l l f'%GG 7 T%%.: 477cl-1`l t,ti li.7 GRFA Variance Request 387 Beaver Dam Circle Lot 1A, Blk 4, Vail Village 3rd Plans: September 24, 2024 367 UPPER LEVEL GAREfAKERS i T MASr R suiTE 50'—p" LIVING DECK 38 11 L{WER _LEVE 28 —0 . A;:..°;;1;;::... Y..,K ? Y 4: '"` ' 3.;,-.. ^. m .,,,,= x:::: ;f.,. 1 - 4 .... w ,_ i n, _: :::. frmr i it s5...,! v.,s 4 :.. F.. _..«.7:.. e..... ":. t v r 5.: ...1 I _._._ i...._._ i. _.. I } ! f i `. I E E , i ! .v i__________.... ___._.i____,_..__ i..__..... NE LIFT SLI DUOR SYS M INFILL t... t,:.-:._.. . .. s y. . fi ,. c ° " µ jC.. ,_....... k'' -'y t; i.. ,,:;, j; v! y,, r:::.. ;....,;;=,,, z »V.: ;,Y.,. s:.. r .., f:: 7.d. t;:..3`: .,; t.. j...:._... „ ,.,- aY.;.. o v t i w,a;m•sr...: , ,.k-..:is, w._. ts f ;.: 1.. NEW LQW STONE RETAINING WALL e,p...,.,, ,,. ,{ •..z, y; .,, '— v a2"" i,' -. ii I E i f w --- - -, --_ ; ; f , I { 3i _; 1. f F_= E t \ ___ t -- v i__ i '" ti . ,.,.- w . . . . EXISTING STONE TC? REMAIN EXISTING BQARD A ID BATTEN SIDING Tt7 REMAIN NEW STAND{NG SEAM COPPER RC dF C NEW STCJNE V NEER TQ MATCH EXISTING 5 NEW Bc ARd AND BATfEN SIDING 1(3 MATGH EXISTING r Ew ac o a wir pow ROU GENERAL NC? TES: 1} ALL WIh1DQWS ANt7 EXTERI{R DC7QR5 CLAD WOOD - CC?LC?R TCJ MATCH EXfSTING 2} ALL FLASNING ANC7 RCJOF DRAINAGE SYSTEM TO MATCH EXISTING 3j DIMENSIC7NED WALL C}PENiNGS ARE NQMWAL. WlhlC}CJW REP. 70 FiELD VERIFY f LL 4PENlNGS. 5j EXT RIC R Lt'UVERS/VENTS TO BE PAINTEC7 TO MATCN ADJACENT FINlSH 6} A L VENT STAGKS ABQVE RC}C F SURFACE T4 BE PAINTEQ TC. MATCH RC,C7F FINISH 7) A L NEW TRlM DETAiLS TC MATCH EXISTING i, _.:: iT..:.. . . _. . .. , .. ., .. _ S ' F... N i, t r ....i,.. ...X.....i,s....i _ i i i i.. ' t x _ w._, .__ _ _ __ i i : s = r- ,. 1 4 : : _. .. . _ 3r ..E.. .. ..r,...iy. . 3 . s. . q , ; + i ; . : i ; i i.....:.. i,....;....?-•;J._..;;•.;• i....,,«#.. rt... K y; i G ; i j— —._.___. 4r.i! c f Y, i.q«. ; :> i,..,:: f -. , r z E' s r.. NEW WINDOW G OUP IN EXISTING STC) NE VENEERED WALL SCy"1 J t xf f / . .'::, ` 41 f ^ 7 t e J f S'n f t r1,'A$r,i; 3 a, s G ii .i '` '*, J .. y y . 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AND PANELS ;;; a:,. - .,. -:- w , s- :.- r. ... AIN LEVEL Q_ _ _ ,,, - , „ >,. OPEN TO CQVERED PARKWG BEYOND NEW EXPUSED TfMBER COLUMN 6 rJf'`" r tr • 4 :% l ti ,,; f t i ir i i..., iiK y,`,'.,....,,, J F ' ../%>.., ; r.. „ a. b-. } ti. tt . . x nn y.`.' S y x :,z F R ) : b "° e } if i 4,, ; C'*' u:• r. k .. 4;.,.. '^ S. " t,.«.., N ii s UPPER LEVEL y CAREfAK RS __ 60 — 6 P t.CaPtJSED WE T E l'AT'ICC N SCACE; 'I 4` _ 'I'= O" T.O. CHIMNEY a,„ _ __ _. 1, l\". d t`_ - _ . 1 Q .—g IDGE o. AM _ s`-i oY, t o M 3'-- 4y2, _ _ _ . SPRING PQINT 57 — 6 GARAGE 4,>, N F}" i";.. t s` c ' 1r'; j 3 F}- , t (IP .z} 3 S,. t ...,:.t .I 2.'i J {S .!` m Y F S 4. , t--"+ a »^ . .,..d.:..,.... n tt`^,:s.tY'vu {t v ,,,. _ ,ss': g+-.'^ u t i C7 Cd Cll c=" J 0 Q F . W O J J v J J J O Z M ~ m r F Q t ISSUED FOR: DATE; DRB APPLlCATtON 90.14. 11 DRB RESPONSE 90.31. 91 2011 MICHAEL SUMAN ARCNITECT, ALL RIGHTS RBSERVED. SCALE` 114"= 9'- Q" t7RAWN: MDS PRQJEC7#: 9911 SNEET TtTLE: GRFA Variance Request 387 Beaver Dam Circle Lot 1A, Blk 4, Vail Village 3rd Plans: September 24, 2024 368 MASTER SUITE 5Q'_0,> MA1N _ LEVEI. 39'—Q" i • , i . . . ` SCALE: "1 I4l = 1 _{+ 0. RIDGE ____ _ C7. RIDGE 0' 0" 0. RIDGE 5_$ f, 0. PLATE oY" 0. PLATE 2' __ ASTER SU{TE __ Q'-0" AiN LEVE _ . ._.. 139'-0°`=1 Q°-0„ OWER LEVEL V+ V r .... . ...... .. EXISTING STC NE TO REMAfN EXISTING BC7ARD AND BAITEN SIdING TO REMAIN 3 NEW STANDING SEAM CQPPER R C F NEW STONE VENEER TC) MATCH EXISTING 5C NEW BOARD AND BAifEN SID{NG TC) MATCH EXISTIN X' NEW WINDC W GROUP GENERAL NOTES: 1 j A L WINDOWS AND EXTERI4R DOORS CLAD WC C7D - Ct LC)R TC7 MATCH EXlSTING 2j ALL FLASHING AND R40F DRAINAGE SYSTEM TC? MATCH EXISTINC 3j DIMENSIC7NED WALL C7PENING5 ARE NC7MINAL, WINL70W REP. TO F1ELD VERIFY A L OPENINGS. 5j EXTERC(R LflUYERS/VEhlTS 1'O BE PAINTED TO MATCH ADJACENT FINISH 6) ALL V N7 STACKS ABC7VE RdC F SURFACE 1'O BE PAINTED TC7 MATCH RC OF FINISH 7j ALL NEW TRIM DETAILS TC} MATCH EXISTING r ta a r`'t,w- r ti ta r `st , , v' t L f; ji L t'i ,':7 .f . R , °, a, .. „e__.._._,...,........ .,.__ m_,_ .,..,. . ;,;4 3 j u._,.,,....:a3 .,.,„_,...... .. ....._,...... ....,.... i 4 . N i 1Sut1ED F'OR.' I7ATE: L7R6 APPLICATION 9.14.19 DRB RESPONSE 90.3?.71 2011 MICHAEL SUMAN ARCHITECT, LLC. 1JlJ/14. ItYN y .jl /jn DRAWN: MDS PROJECT #.' 1911 SHEET TITLE: ELEVATtONS GRFA Variance Request 387 Beaver Dam Circle Lot 1A, Blk 4, Vail Village 3rd Plans: September 24, 2024 369 r r i ! is i • . , i EXISTING STONE Tt3 REMAIN EXISTiNG B{JARD ANQ BATTEN S1DItJG TO REMAIN NEW STANdING SEAM CC,aPPER ROC1F NEW STQNE VENEER TC? MATCH EXISTING 5 NEW BQARD ANQ BATfEN SIl ING TO MATCH EXIST{NG r Ew w NaQw au GENERAL NC}TES: 1} ALL WINDUWS AND EXTERi R DOORS CLAD Wt70[3 - COLOR TC MATCH EXISTWG 2} ALL FLASHING AND Rt QF DRAINAGE SYSTEM TO MATCH EXISTING 3} DIMEI SIONED WALL OPEN(NGS ARE NQMINAL. W(NQOW REP. TO FIELD VERIFY ALL OPENINGS. 5) EXTERIOR LOUVERS/VENTS TC BE PAINTED TC7 MATCH ADJACENT FiNISH AI.L VENT STACKS A8t?V ROC F SURfACE TO BE PA(NTED TO MATCH ROC F FINISH 7j ALL NEW TRIM DEfAfLS TO MATCH EXISTWG UPPER LEV AR AKER`. MASTER SU 5t'-0" . MAIN_ LEVEL 39 —0 y L01NER} LEV 28 —0 M . , ! scacE: 114" = 1'_0 kr r '', a : $' ,t` i <'a.,. g"`t iyr if J r, e ° s?, = t r s,"_. t., , .. ul, ..,- t a ,i )''<^, 5 € t 9 . e.,..._w z.,_.... ....._..a_.s.... ............. ...... .... .. ..:,.4 j i1 . f ISSUED OR: DATE: DRB APPl.fCATtON 9U.14.11 DRB RESPONSE 90.39.11 20i 1 MICHAE! SUMAN SCACE.• 114"-1=0" r Rawnr: n as PROJECT #: 111 ? sH r rrr«: EcE arrorvs GRFA Variance Request 387 Beaver Dam Circle Lot 1A, Blk 4, Vail Village 3rd Plans: September 24, 2024 370 T.O. R( 69 =," . ur ev c ra e- . Iy.steR st 50'- 0' 3s'-o' IA}ER Lty 28'-0` y T,o. a Neteo'—a" r.o. Pooc s'—s` 0. 67'-1t'. . . . 63"^4 t. SFRftiC POiNfr.._•. . 4._s. t 1 ASfER S11tfE ..,,. t t k" 7^ aa'_tt4 t s + i R i •• s*• i • i A 2 • 1 l f li / i i i i ! i , . .• . : '1 :.i ! r a_o. w "° i r i • M • • l i 11 i • • t i : ! 1 11 i i A S • 1 l i 1 1 ! i ! i i : ! . , , , !. t C ' ! ! mr . s`—s„ i1, ' ' ' • t o, r uc M$» o. r a, Q„ 4. 18DGE a. eu a. 4 z'-io' ns a`-a' NN t. 39`-0'$100`-0 r a:,- ,- ,~: , ft , a , , y -°;;{=' rt ` ; ,: i:`'-, `' ro_.__ _._. f; 3 s t w s e 4 . s i! t • i 1 i': • 't / 2011 MICNA£ SUMAN !#RCii1TEGf. Li.G. ALL RIGHTS RESERVEf. c7Vl1L. '/'Y'N . .}I Jyq t U L7RAWN. MDS FROJEGT #; 9111 s E r rtrt- c r on c cs L /. GRFA Variance Request 387 Beaver Dam Circle Lot 1A, Blk 4, Vail Village 3rd Plans: September 24, 2024 371 i ' •i T'OP OF GARAGE 5LA6 110'-6"' TC7P C7F MECH. RM. SLAB 104'-b, r F RID E AT MASTER I° F R1Ci E AT LIVING r 4 F FIN. FLR. TIJP (F FIN. FI.R. 9^„ tr^s;a f itsl"' ,rf ;, g \ (§ 's `v .. i <" `'r," ,; '_ m` ti ; si z q ,r, u -^ raw,: f t % w rw+ a*"..+ C 7 i t . i f i(:°ii`ii ' ' r•: - • t 2tl71 MiCHREL SUMAN ARCHITECT, LLC. 1 ALl RIGHTS RESEftVED. SCALE• 1!4" = 9, 0" DRAWN: Mt7S PRfJJECT #: 91 ? 9 SNEET TIiLE: SECTIONS I GRFA Variance Request 387 Beaver Dam Circle Lot 1A, Blk 4, Vail Village 3rd Plans: September 24, 2024 372 sc t: 1!4' = 1 _U° y TOP OF FlN, FLR, f 121 "-6° _ TOP C?F GARAGE SLAB 110'-6 TOP dF MECN, RM. SLAB 0—7" t ^, £* e:# °+t.,,v q4 r , . t i1 d `a;. k Jf t;,M1.. 1.;",c+ 'v1€1r"'i''4,/ i c+..:.''v J i l.s„> }... U t...'t f'e # , a ' :. t,-y, .} i.. l : a ` "i'{' r; d5 i.:- t C`"l.' ..` "., a J u' ",;J°ii m. r f : r w___ _ . i t; v ; _ a, - u tr 4 ° r stU V 4{4't, 1 3 N+.N '+J N r j"i wt Sy.F r^I •ti r. h.'» fl 7 J W Z i- W C J Q „ y z a a F J m r r N 1 tSSUEp FOR: DATE: DRBAPPLIGAiION 90.14.9? DR8 RESPONSE 90.31. 9 ? 2411 MICHAEL SUMAN ARCHITECT, t' AlG RIGHTS RESERVE[}. SGALE: 1/4"=1`-0" DRAWN: MDS PROJECT #: 1911 sxE r r rc: sE rian s l GRFA Variance Request 387 Beaver Dam Circle Lot 1A, Blk 4, Vail Village 3rd Plans: September 24, 2024 373 GRFA Variance Request 387 Beaver Dam Circle Lot 1A, Blk 4, Vail Village 3rd Plans: September 24, 2024 374 GRFA Variance Request 387 Beaver Dam Circle Lot 1A, Blk 4, Vail Village 3rd Plans: September 24, 2024 375 GRFA Variance Request 387 Beaver Dam Circle Lot 1A, Blk 4, Vail Village 3rd Plans: September 24, 2024 376 GRFA Variance Request 387 Beaver Dam Circle Lot 1A, Blk 4, Vail Village 3rd Plans: September 24, 2024 377 T i i ISSUED FOR; DATE.' DRB APPLlCATIQN 9D.14,11 DR8 RESPDNSE 9d.3?. 41 2dT t MICMAEL SUMAN ARCHlTECT, LLC. RI.L RIGHTS RESERVEQ. SCALE: 9f4"=1'-0" CJR/aWN: MpS PROJECT #: 1 fi 11 i SNEET T1TLE: EXJSTING ELEVATiON. L GRFA Variance Request 387 Beaver Dam Circle Lot 1A, Blk 4, Vail Village 3rd Plans: September 24, 2024 378 MASTER SUfTE o,_a, _ _ _ . iAIN _LEVEL 39 —0 SGALE: ') /4 , w 0. RIDGE r . a. Ri c _ _ Q,^,f o. c _ _ _ _ 8» . 0. PI.ATE oY„- __. o. t z_ ASTER SUITE c;=-a, 1 !i ! i ' t'i. '.% Q : , r s .``;'` ' P r. i 4 } . r w J ISSUED F'OR; DATE: DRB APPLlCATtQN 10. 94. 9 9 DRB RESPONSE 1.39.19 2011 MICHAEL SUMAN ARGHI7ECT, LIC. 1LL: tf`Y° r/nV DRAWN: MDS PROJECT #,` 1911 SHEET 77TLE: EXiSTtNG ELEVA GRFA Variance Request 387 Beaver Dam Circle Lot 1A, Blk 4, Vail Village 3rd Plans: September 24, 2024 379 ra v f y s MASTER SU S0'-p„ MAI! LEVEL 39 -0 I.WER Ev z$ —a X Tl lta NC)RTH ELEVATIUN A2.4 scACE: 114„ = 1 _0' sY`t',/i t °" €11,,' r`6 w ` t,`% s C}ia ;. e f e ,._M_ _. _ _. k A ca ;,. t a` i` 8 3'` 3 9 Cp f3 r,,, 'v . (.} . i? w i-+ ... ,. a+ I V J M i. W O a U J J J Q r W d'' Z t3 Q F J n r F J I issu Q o; c r: DR8 APPLlCATtON f 0. 9. 91 DRB RESPONSE 90,39.99 2071 MICHAEL SUMAN AR J All RIGHTS RESERYECI. scA: i ri= , a DRf1WN: MDS PR4JECT #, 9119 SHEET 7tTLE: EXISTlNG E'LEVA LCC. GRFA Variance Request 387 Beaver Dam Circle Lot 1A, Blk 4, Vail Village 3rd Plans: September 24, 2024 380 Customer Distribution Prevent fraud - Please call a member of our closing team for wire transfer instructions or to initiate a wire transfer. Note that our wiring instructions will never change. Order Number: V50069173-5 Date: 07/24/2023 Property Address: 387 BEAVER DAM CIRCLE, VAIL, CO 81657 For Closing Assistance Closers Assistant For Title Assistance Charis Patterson 0090 BENCHMARK RD #205 AVON, CO 81620 PO BOX 3480 (970) 748-4784 (Work) (877) 408-7373 (Work Fax) cpatterson@ltgc.com Company License: CO44565 Karen Campbell 0090 BENCHMARK RD #205 AVON, CO 81620 PO BOX 3480 (970) 748-4787 (Work) (877) 408-7373 (Work Fax) kcampbell@ltgc.com Company License: CO44565 Land Title Eagle County Title Team 610 WEST LIONSHEAD CIRCLE #300 VAIL, CO 81657 (970) 477-4500 (Work) eaglecountyrequests@ltgc.com Buyer/Borrower AB GLOBAL INC., A DELAWARE CORPORATION Attention: GUILLERMO SCHULTZ Delivered via: Electronic Mail Attorney for Buyer OATES KNEZEVICH GARDENSWARTZ KELLY & MORROW PC Attention: ANNE MARIE MCPHEE 533 E HOPKINS THIRD FLOOR ASPEN, CO 81611 (970) 920-1701 (Work) (970) 920-1700 (Work) (970) 920-1121 (Work Fax) amm@okglaw.com Delivered via: Electronic Mail Seller/Owner HCH ORGANIZATION LLC Attention: FRED TRESCA, DEBBIE TRESCA Delivered via: Electronic Mail Attorney for Seller STOVALL ASSOCIATES PC Attention: JIM STOVALL 175 MAIN ST #C-109 EDWARDS, CO 81632 (970) 949-4200 (Work) (970) 797-1874 (Work Fax) jim@vailvalleylaw.net Delivered via: Electronic Mail 381 Agent for Buyer THE STOCKTON GROUP COMPASS Attention: TYE STOCKTON 141 E MEADOW DRIVE SUITE 203 VAIL, CO 81657 (970) 471-2557 (Cell) tye@tsgvail.com Delivered via: Electronic Mail THE STOCKTON GROUP COMPASS Attention: ABEL MEDRANO abel.medrano@compass.com Delivered via: Electronic Mail Agent for Seller THE STOCKTON GROUP COMPASS Attention: TYE STOCKTON 141 E MEADOW DRIVE SUITE 203 VAIL, CO 81657 (970) 471-2557 (Cell) tye@tsgvail.com Delivered via: Electronic Mail 382 Estimate of Title Fees Order Number: V50069173-5 Date: 07/24/2023 Property Address: 387 BEAVER DAM CIRCLE, VAIL, CO 81657 Seller(s): THE HCH ORGANIZATION, LLC, A COLORADO LIMITED LIABILITY COMPANY Buyer(s): AB GLOBAL INC., A DELAWARE CORPORATION Thank you for putting your trust in Land Title. Below is the estimate of title fees for the transaction. The final fees will be collected at closing. Visit ltgc.com to learn more about Land Title. Estimate of Title Insurance Fees "ALTA" Owner's Policy 07-30-21 $23,593.00 Deletion of Standard Exception(s)$75.00 Tax Certificate (Tax Certificate Ordered)$27.00 TOTAL $23,695.00 Note: The documents linked in this commitment should be reviewed carefully. These documents, such as covenants conditions and restrictions, may affect the title, ownership and use of the property. You may wish to engage legal assistance in order to fully understand and be aware of the implications of the documents on your property. Chain of Title Documents: Eagle county recorded 11/15/2011 under reception no. 201121336 Plat Map(s): Eagle county recorded 01/25/2002 under reception no. 784035 383 This page is only a part of a 2021 ALTA® Commitment for Title Insurance. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I—Requirements; Schedule B, Part II—Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form. Copyright 2021 American Land Title Association. All rights reserved. The use of this Form is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. Property Address: 387 BEAVER DAM CIRCLE, VAIL, CO 81657 1.Commitment Date: 07/14/2023 at 5:00 P.M. 2.Policy to be Issued and Proposed Insured: "ALTA" Owner's Policy 07-30-21 Proposed Insured: AB GLOBAL INC., A DELAWARE CORPORATION $16,000,000.00 3.The estate or interest in the land described or referred to in this Commitment and covered herein is: FEE SIMPLE 4.The Title is, at the Commitment Date, vested in: THE HCH ORGANIZATION, LLC, A COLORADO LIMITED LIABILITY COMPANY 5.The Land is described as follows: LOT 1A, BLOCK 4, A RESUBDIVISION OF LOT 1, BLOCK 4, VAIL VILLAGE-THIRD FILING, ACCORDING TO THE PLAT RECORDED JANUARY 25, 2002, AT RECEPTION NO. 784035, COUNTY OF EAGLE, STATE OF COLORADO. ALTA COMMITMENT Old Republic National Title Insurance Company Schedule A Order Number:V50069173-5 384 ALTA COMMITMENT Old Republic National Title Insurance Company Schedule B, Part I (Requirements) Order Number: V50069173-5 All of the following Requirements must be met: This proposed Insured must notify the Company in writing of the name of any party not referred to in this Commitment who will obtain an interest in the Land or who will make a loan on the Land. The Company may then make additional Requirements or Exceptions. Pay the agreed amount for the estate or interest to be insured. Pay the premiums, fees, and charges for the Policy to the Company. Documents satisfactory to the Company that convey the Title or create the Mortgage to be insured, or both, must be properly authorized, executed, delivered, and recorded in the Public Records. 1.THE FINANCIAL CRIMES ENFORCEMENT NETWORK ("FINCEN"), A BUREAU OF THE U.S. DEPARTMENT OF THE TREASURY, HAS ISSUED A GEOGRAPHIC TARGETING ORDER ("GTO") TO ALL TITLE INSURANCE COMPANIES REQUIRING THE COLLECTION AND REPORTING OF CERTAIN INFORMATION WITH RESPECT TO CERTAIN REAL ESTATE TRANSACTIONS IN ADAMS, ARAPAHOE, CLEAR CREEK, DENVER, DOUGLAS, EAGLE, ELBERT, EL PASO, FREMONT, JEFFERSON, MESA, PITKIN, PUEBLO, OR SUMMIT COUNTIES. PRIOR TO THE CLOSING OF THE PROPOSED TRANSACTION, THE COMPANY AND ITS POLICY-ISSUING AGENT MUST BE PROVIDED WITH INFORMATION SUFFICIENT TO DETERMINE IF THE TRANSACTION MUST BE REPORTED TO FINCEN, INCLUDING COPIES OF CERTAIN DOCUMENTS NECESSARY TO MEET THE GTO'S DOCUMENT/RECORD RETENTION REQUIREMENTS. THE PROPOSED TRANSACTION WILL NOT BE CLOSED, AND THE PROPOSED POLICY WILL NOT BE ISSUED, UNLESS THE REQUIRED INFORMATION IS PROVIDED TO THE COMPANY OR ITS POLICY-ISSUING AGENT AND FOUND TO BE ACCEPTABLE. 2.EVIDENCE SATISFACTORY TO THE COMPANY THAT THE TERMS, CONDITIONS AND PROVISIONS OF THE TOWN OF VAIL TRANSFER TAX HAVE BEEN SATISFIED. 3.WRITTEN CONFIRMATION THAT THE INFORMATION CONTAINED IN STATEMENT OF AUTHORITY FOR THE HCH ORGANIZATION, LLC, A COLORADO LIMITED LIABILITY COMPANY RECORDED JULY 23, 2015 UNDER RECEPTION NO. 201513759 IS CURRENT. NOTE: SAID INSTRUMENT DISCLOSES FRED M. TRESCA, MANAGER, THE ABERDEEN ORGANIZATIION, LLC, A DELAWARE LIMITED LIABILITY COMPANY AS THE MEMBER AUTHORIZED TO EXECUTE INSTRUMENTS CONVEYING, ENCUMBERING OR OTHERWISE AFFECTING TITLE TO REAL PROPERTY ON BEHALF OF SAID ENTITY. IF THIS INFORMATION IS NOT ACCURATE, A CURRENT STATEMENT OF AUTHORITY MUST BE RECORDED. 4.(THIS ITEM WAS INTENTIONALLY DELETED) 5.RELEASE OF DEED OF TRUST DATED OCTOBER 21, 2016 FROM THE HCH ORGANIZATION, LLC, A COLORADO LIMITED LIABILITY COMPANY TO THE PUBLIC TRUSTEE OF EAGLE COUNTY FOR THE USE OF JPMORGAN CHASE BANK TO SECURE THE SUM OF $5,000,000.00, AND ANY OTHER AMOUNTS PAYABLE UNDER THE TERMS THEREOF, RECORDED OCTOBER 26, 2016, UNDER RECEPTION NO. 201618105. 6.WARRANTY DEED FROM THE HCH ORGANIZATION, LLC, A COLORADO LIMITED LIABILITY COMPANY TO AB GLOBAL INC., A DELAWARE CORPORATION CONVEYING SUBJECT PROPERTY. 385 REQUIREMENTS TO DELETE THE PRE-PRINTED EXCEPTIONS IN THE OWNER'S POLICY TO BE ISSUED A. UPON RECEIPT BY THE COMPANY OF A SATISFACTORY FINAL AFFIDAVIT AND AGREEMENT FROM THE SELLER AND PROPOSED INSURED, ITEMS 1-4 OF THE PRE-PRINTED EXCEPTIONS WILL BE DELETED. ANY ADVERSE MATTERS DISCLOSED BY THE FINAL AFFIDAVIT AND AGREEMENT WILL BE ADDED AS EXCEPTIONS. B. IF LAND TITLE GUARANTEE CONDUCTS THE CLOSING OF THE CONTEMPLATED TRANSACTIONS AND RECORDS THE DOCUMENTS IN CONNECTION THEREWITH, ITEM NO. 5 OF THE PRE-PRINTED EXCEPTIONS WILL BE DELETED. C. UPON RECEIPT OF PROOF OF PAYMENT OF ALL PRIOR YEARS' TAXES AND ASSESSMENTS, ITEM NO. 6 OF THE PRE-PRINTED EXCEPTIONS WILL BE AMENDED TO READ: TAXES AND ASSESSMENTS FOR THE YEAR 2023 AND SUBSEQUENT YEARS. NOTE: THE ISSUANCE OF THE POLICIES AND/OR ENDORSEMENTS REFERENCED IN THIS COMMITMENT ARE SUBJECT TO THE APPROVAL OF THE UNDERWRITER OF SAID POLICIES AND/OR ENDORSEMENTS. THIS COMMITMENT MAY BE REVISED AS REQUIRED BY THE UNDERWRITER TO ISSUE THE POLICIES AND/OR ENDORSEMENTS REQUESTED. THIS NOTE WILL BE DELETED UPON THE RECEIPT OF SAID APPROVAL. ALTA COMMITMENT Old Republic National Title Insurance Company Schedule B, Part I (Requirements) Order Number: V50069173-5 All of the following Requirements must be met: 386 Some historical land records contain Discriminatory Covenants that are illegal and unenforceable by law. This Commitment and the Policy treat any Discriminatory Covenant in a document referenced in Schedule B as if each Discriminatory Covenant is redacted, repudiated, removed, and not republished or recirculated. Only the remaining provisions of the document will be excepted from coverage. 1.Any facts, rights, interests, or claims thereof, not shown by the Public Records but that could be ascertained by an inspection of the Land or that may be asserted by persons in possession of the Land. 2.Easements, liens or encumbrances, or claims thereof, not shown by the Public Records. 3.Any encroachment, encumbrance, violation, variation, or adverse circumstance affecting the Title that would be disclosed by an accurate and complete land survey of the Land and not shown by the Public Records. 4.Any lien, or right to a lien, for services, labor or material heretofore or hereafter furnished, imposed by law and not shown by the Public Records. 5.Defects, liens, encumbrances, adverse claims or other matters, if any, created, first appearing in the public records or attaching subsequent to the effective date hereof but prior to the date of the proposed insured acquires of record for value the estate or interest or mortgage thereon covered by this Commitment. 6.(a) Taxes or assessments that are not shown as existing liens by the records of any taxing authority that levies taxes or assessments on real property or by the Public Records; (b) proceedings by a public agency that may result in taxes or assessments, or notices of such proceedings, whether or not shown by the records of such agency or by the Public Records. 7.(a) Unpatented mining claims; (b) reservations or exceptions in patents or in Acts authorizing the issuance thereof; (c) water rights, claims or title to water. 8.RIGHT OF PROPRIETOR OF A VEIN OR LODE TO EXTRACT AND REMOVE HIS ORE THEREFROM SHOULD THE SAME BE FOUND TO PENETRATE OR INTERSECT THE PREMISES AS RESERVED IN UNITED STATES PATENT RECORDED SEPTEMBER 04, 1923, IN BOOK 93 AT PAGE 98. 9.RIGHT OF WAY FOR DITCHES OR CANALS CONSTRUCTED BY THE AUTHORITY OF THE UNITED STATES AS RESERVED IN UNITED STATES PATENT RECORDED SEPTEMBER 04, 1923, IN BOOK 93 AT PAGE 98. 10.RESTRICTIVE COVENANTS WHICH DO NOT CONTAIN A FORFEITURE OR REVERTER CLAUSE, BUT OMITTING ANY COVENANTS OR RESTRICTIONS, IF ANY, BASED UPON RACE, COLOR, RELIGION, SEX, SEXUAL ORIENTATION, FAMILIAL STATUS, MARITAL STATUS, DISABILITY, HANDICAP, NATIONAL ORIGIN, ANCESTRY, OR SOURCE OF INCOME, AS SET FORTH IN APPLICABLE STATE OR FEDERAL LAWS, EXCEPT TO THE EXTENT THAT SAID COVENANT OR RESTRICTION IS PERMITTED BY APPLICABLE LAW, AS CONTAINED IN INSTRUMENT RECORDED MARCH 25, 1963, IN BOOK 174 AT PAGE 575. 11.EASEMENTS, CONDITIONS, COVENANTS, RESTRICTIONS, RESERVATIONS AND NOTES ON THE RECORDED PLAT OF VAIL VILLAGE THIRD FILING AND DUPLEX PLAT RECORDED JANUARY 25, 2002 RECEPTION NO. 784035. 12.TERMS, CONDITIONS AND PROVISIONS OF HOLY CROSS ELECTRIC ASSOCIATION, INC. UNDERGROUND RIGHT OF WAY EASEMENT RECORDED AUGUST 19, 1997 IN BOOK 734 AT PAGE 966. 13.(THIS ITEM WAS INTENTIONALLY DELETED) ALTA COMMITMENT Old Republic National Title Insurance Company Schedule B, Part II (Exceptions) Order Number: V50069173-5 387 14.TERMS, CONDITIONS AND PROVISIONS OF DECLARATION OF COVENANTS, CONDITIONS AND RESERVATIONS BUT OMITTING ANY COVENANTS OR RESTRICTIONS, IF ANY, BASED UPON RACE, COLOR, RELIGION, SEX, SEXUAL ORIENTATION, FAMILIAL STATUS, MARITAL STATUS, DISABILITY, HANDICAP, NATIONAL ORIGIN, ANCESTRY, OR SOURCE OF INCOME, AS SET FORTH IN APPLICABLE STATE OR FEDERAL LAWS, EXCEPT TO THE EXTENT THAT SAID COVENANT OR RESTRICTION IS PERMITTED BY APPLICABLE LAW AS CONTAINED IN INSTRUMENT RECORDED JANUARY 25, 2002 AT RECEPTION NO. 784036. 15.ANY FACTS, RIGHTS, INTERESTS OR CLAIMS WHICH MAY EXIST OR ARISE BY REASON OF THE FOLLOWING FACTS: 1) ROCK WALL ENCROACHES INTO UTILITY EASEMENT AND ADJOINING LOT. 2) SPA ENCROACHES INTO UTILITY EASEMENT. 3) FENCELINES ON THE SOUTHWESTERLY LOT LINE. AS SHOWN ON IMPROVEMENT LOCATION CERTIFICATE CERTIFIED MAY 12, 2023 PREPARED BY EAGLE VALLEY SURVEYING, INC., JOB #1469 SAID DOCUMENT STORED AS OUR IMAGE 60335039 ALTA COMMITMENT Old Republic National Title Insurance Company Schedule B, Part II (Exceptions) Order Number: V50069173-5 388 ALTA Commitment For Title Insurance issued by Old Republic National Title Insurance Company NOTICE IMPORTANT—READ CAREFULLY: THIS COMMITMENT IS AN OFFER TO ISSUE ONE OR MORE TITLE INSURANCE POLICIES. ALL CLAIMS OR REMEDIES SOUGHT AGAINST THE COMPANY INVOLVING THE CONTENT OF THIS COMMITMENT OR THE POLICY MUST BE BASED SOLELY IN CONTRACT. THIS COMMITMENT IS NOT AN ABSTRACT OF TITLE, REPORT OF THE CONDITION OF TITLE, LEGAL OPINION, OPINION OF TITLE, OR OTHER REPRESENTATION OF THE STATUS OF TITLE. THE PROCEDURES USED BY THE COMPANY TO DETERMINE INSURABILITY OF THE TITLE, INCLUDING ANY SEARCH AND EXAMINATION, ARE PROPRIETARY TO THE COMPANY, WERE PERFORMED SOLELY FOR THE BENEFIT OF THE COMPANY, AND CREATE NO EXTRACONTRACTUAL LIABILITY TO ANY PERSON, INCLUDING A PROPOSED INSURED. THE COMPANY’S OBLIGATION UNDER THIS COMMITMENT IS TO ISSUE A POLICY TO A PROPOSED INSURED IDENTIFIED IN SCHEDULE A IN ACCORDANCE WITH THE TERMS AND PROVISIONS OF THIS COMMITMENT. THE COMPANY HAS NO LIABILITY OR OBLIGATION INVOLVING THE CONTENT OF THIS COMMITMENT TO ANY OTHER PERSON. . COMMITMENT TO ISSUE POLICY Subject to the Notice; Schedule B, Part I—Requirements; Schedule B, Part II—Exceptions; and the Commitment Conditions ,Old Republic National Title Insurance Company, a Minnesota corporation (the “Company”), commits to issue the Policy according to the terms and provisions of this Commitment. This Commitment is effective as of the Commitment Date shown in Schedule A for each Policy described in Schedule A, only when the Company has entered in Schedule A both the specified dollar amount as the Proposed Amount of insurance and the name of the Proposed Insured. If all of the Schedule B, Part I—Requirements have not been met within 6 months after the Commitment Date, this Commitment terminates and the Company’s liability and obligation end. COMMITMENT CONDITIONS 1. DEFINITIONS 2. If all of the Schedule B, Part I—Requirements have not been met within the time period specified in the Commitment to Issue Policy, Commitment terminates and the Company’s liability and obligation end. 3. The Company’s liability and obligation is limited by and this Commitment is not valid without: 4. COMPANY’S RIGHT TO AMEND The Company may amend this Commitment at any time. If the Company amends this Commitment to add a defect, lien, encumbrance, adverse claim, or other matter recorded in the Public Records prior to the Commitment Date, any liability of the Company is limited by Commitment Condition 5. The Company is not liable for any other amendment to this Commitment. 5. LIMITATIONS OF LIABILITY i. comply with the Schedule B, Part I—Requirements; ii. eliminate, with the Company’s written consent, any Schedule B, Part II—Exceptions; or iii. acquire the Title or create the Mortgage covered by this Commitment. “Discriminatory Covenant”: Any covenant, condition, restriction, or limitation that is unenforceable under applicable law because it illegally discriminates against a class of individuals based on personal characteristics such as race, color, religion, sex, sexual orientation, gender identity, familial status, disability, national origin, or other legally protected class. (a) “Knowledge” or “Known”: Actual knowledge or actual notice, but not constructive notice imparted by the Public Records.(b) “Land”: The land described in item 5 of Schedule A and affixed improvements located on that land that by State law constitute real property. The term “Land” does not include any property beyond that described in Schedule A, nor any right, title, interest, estate, or easement in any abutting street, road, aavenue, alley, lane, right-of-way, body of water, or waterway, but does not modify or limit the extent that a right of access to and from the Land is to be insured by the Policy. (c) “Mortgage”: A mortgage, deed of trust, trust deed, security deed, or other real property security instrument, including one evidenced by electronic means authorized by law. (d) “Policy”: Each contract of title insurance, in a form adopted by the American Land Title Association, issued or to be issued by the Company pursuant to this Commitment. (e) “Proposed Amount of Insurance”: Each dollar amount specified in Schedule A as the Proposed Amount of Insurance of each Policy to be issued pursuant to this Commitment. (f) “Proposed Insured”: Each person identified in Schedule A as the Proposed Insured of each Policy to be issued pursuant to this Commitment.(g) “Public Records”: The recording or filing system established under State statutes in effect at the Commitment Date under which a document must be recorded or filed to impart constructive notice of matters relating to the TItle to a purchaser for value without Knowledge. The term “Public Records” does not include any other recording or filing system, including any pertaining to environmental remediation or protection, planning, permitting, zoning, licensing, building, health, public safety, or national security matters. (h) “State”: The state or commonwealth of the United States within whose exterior boundaries the Land is located. The term “State” also includes the District of Columbia, the Commonwealth of Puerto Rico, the U.S. Virgin Islands, and Guam. (i) “Title”: The estate or interest in the Land identified in Item 3 of Schedule A.(j) the Notice;(a) the Commitment to Issue Policy;(b) the Commitment Conditions;(c) Schedule A;(d) Schedule B, Part I—Requirements; and(e) Schedule B, Part II—Exceptions; and(f) a counter-signature by the Company or its issuing agent that may be in electronic form.(g) The Company’s liability under Commitment Condition 4 is limited to the Proposed Insured’s actual expense incurred in the interval between the Company’s delivery to the Proposed Insured of the Commitment and the delivery of the amended Commitment, resulting from the Proposed Insured’s good faith reliance to: (a) The Company is not liable under Commitment Condition 5(a) if the Proposed Insured requested the amendment or had Knowledge of the matter and did not notify the Company about it in writing. (b) The Company is only liable under Commitment Condition 4 if the Proposed Insured would not have incurred the expense had the Commitment included the added matter when the Commitment was first delivered to the Proposed Insured. (c) The Company’s liability does not exceed the lesser of the Proposed Insured’s actual expense incurred in good faith and described in Commitment Condition 5(a) or the Proposed Amount of Insurance. (d) The Company is not liable for the content of the Transaction Identification Data, if any.(e) The Company is not obligated to issue the Policy referred to in this Commitment unless all of the Schedule B, Part I—Requirements have been met to the satisfaction of the Company. (f) 389 6. LIABILITY OF THE COMPANY MUST BE BASED ON THIS COMMITMENT. CHOICE OF LAW AND CHOICE OF FORUM 7. IF THIS COMMITMENT IS ISSUED BY AN ISSUING AGENT The issuing agent is the Company’s agent only for the limited purpose of issuing title insurance commitments and policies. The issuing agent is not the Company’s agent for the purpose of providing closing or settlement services. 8. PRO-FORMA POLICY The Company may provide, at the request of a Proposed Insured, a pro-forma policy illustrating the coverage that the Company may provide. A pro-forma policy neither reflects the status of Title at the time that the pro-forma policy is delivered to a Proposed Insured, nor is it a commitment to insure. 9. CLAIMS PROCEDURES This Commitment incorporates by reference all Conditions for making a claim in the Policy to be issued to the Proposed Insured. Commitment Condition 9 does not modify the limitations of liability in Commitment Conditions 5 and 6. 10. CLASS ACTION ALL CLAIMS AND DISPUTES ARISING OUT OF OR RELATING TO THIS COMMITMENT, INCLUDING ANY SERVICE OR OTHER MATTER IN CONNECTION WITH ISSUING THIS COMMITMENT, ANY BREACH OF A COMMITMENT PROVISION, OR ANY OTHER CLAIM OR DISPUTE ARISING OUT OF OR RELATING TO THE TRANSACTION GIVING RISE TO THIS COMMITMENT, MUST BE BROUGHT IN AN INDIVIDUAL CAPACITY. NO PARTY MAY SERVE AS PLAINTIFF, CLASS MEMBER, OR PARTICIPANT IN ANY CLASS OR REPRESENTATIVE PROCEEDING. ANY POLICY ISSUED PURSUANT TO THIS COMMITMENT WILL CONTAIN A CLASS ACTION CONDITION. 11. ARBITRATION The Policy contains an arbitration clause. All arbitrable matters when the Proposed Amount of insurance is $2,000,000 or less may be arbitrated at the election of either the Company or the Proposed Insured as the exclusive remedy of the parties. A Proposed Insured may review a copy of the arbitration rules at http://www.alta.org/arbitration IN WITNESS WHEREOF, Old Republic National Title Insurance Company has caused its corporate name and seal to be affixed by its duly authorized officers on the date shown in Schedule A to be valid when countersigned by a validating officer or other authorized signatory. Issued by: Land Title Guarantee Company 3033 East First Avenue Suite 600 Denver, Colorado 80206 303-321-1880 Craig B. Rants, Senior Vice President This page is only a part of a 2021 ALTA® Commitment for Title Insurance issued by Old Republic National Title Insurance Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I—Requirements; and Schedule B, Part II —Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form. Copyright 2021 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. The Company’s liability is further limited by the terms and provisions of the Policy to be issued to the Proposed Insured.(g) Only a Proposed Insured identified in Schedule A, and no other person, may make a claim under this Commitment.(a) Any claim must be based in contract under the State law of the State where the Land is located and is restricted to the terms and provisions of this Commitment. Any litigation or other proceeding brought by the Proposed Insured against the Company must be filed only in a State or federal court having jurisdiction (b) This Commitment, as last revised, is the exclusive and entire agreement between the parties with respect to the subject matter of this Commitment and supersedes all prior commitment negotiations, representations, and proposals of any kind, whether written or oral, express or implied, relating to the subject matter of this Commitment. (c) The deletion or modification of any Schedule B, Part II—Exception does not constitute an agreement or obligation to provide coverage beyond the terms and provisions of this Commitment or the Policy. (d) Any amendment or endorsement to this Commitment must be in writing and authenticated by a person authorized by the Company.(e) When the Policy is issued, all liability and obligation under this Commitment will end and the Company’s only liability will be under the Policy.(f) 390 Land Title Guarantee Company Disclosure Statements Note: Pursuant to CRS 10-11-122, notice is hereby given that: Note: Effective September 1, 1997, CRS 30-10-406 requires that all documents received for recording or filing in the clerk and recorder's office shall contain a top margin of at least one inch and a left, right and bottom margin of at least one half of an inch. The clerk and recorder may refuse to record or file any document that does not conform, except that, the requirement for the top margin shall not apply to documents using forms on which space is provided for recording or filing information at the top margin of the document. Note: Colorado Division of Insurance Regulations 8-1-2 requires that "Every title entity shall be responsible for all matters which appear of record prior to the time of recording whenever the title entity conducts the closing and is responsible for recording or filing of legal documents resulting from the transaction which was closed". Provided that Land Title Guarantee Company conducts the closing of the insured transaction and is responsible for recording the legal documents from the transaction, exception number 5 will not appear on the Owner's Title Policy and the Lenders Policy when issued. Note: Affirmative mechanic's lien protection for the Owner may be available (typically by deletion of Exception no. 4 of Schedule B, Section 2 of the Commitment from the Owner's Policy to be issued) upon compliance with the following conditions: No coverage will be given under any circumstances for labor or material for which the insured has contracted for or agreed to pay. Note: Pursuant to CRS 10-11-123, notice is hereby given: The Subject real property may be located in a special taxing district.(A) A certificate of taxes due listing each taxing jurisdiction will be obtained from the county treasurer of the county in which the real property is located or that county treasurer's authorized agent unless the proposed insured provides written instructions to the contrary. (for an Owner's Policy of Title Insurance pertaining to a sale of residential real property). (B) The information regarding special districts and the boundaries of such districts may be obtained from the Board of County Commissioners, the County Clerk and Recorder, or the County Assessor. (C) The land described in Schedule A of this commitment must be a single family residence which includes a condominium or townhouse unit. (A) No labor or materials have been furnished by mechanics or material-men for purposes of construction on the land described in Schedule A of this Commitment within the past 6 months. (B) The Company must receive an appropriate affidavit indemnifying the Company against un-filed mechanic's and material-men's liens. (C) The Company must receive payment of the appropriate premium.(D) If there has been construction, improvements or major repairs undertaken on the property to be purchased within six months prior to the Date of Commitment, the requirements to obtain coverage for unrecorded liens will include: disclosure of certain construction information; financial information as to the seller, the builder and or the contractor; payment of the appropriate premium fully executed Indemnity Agreements satisfactory to the company, and, any additional requirements as may be necessary after an examination of the aforesaid information by the Company. (E) 391 This notice applies to owner's policy commitments disclosing that a mineral estate has been severed from the surface estate, in Schedule B-2. Note: Pursuant to CRS 10-1-128(6)(a), It is unlawful to knowingly provide false, incomplete, or misleading facts or information to an insurance company for the purpose of defrauding or attempting to defraud the company. Penalties may include imprisonment, fines, denial of insurance, and civil damages. Any insurance company or agent of an insurance company who knowingly provides false, incomplete, or misleading facts or information to a policyholder or claimant for the purpose of defrauding or attempting to defraud the policyholder or claimant with regard to a settlement or award payable from insurance proceeds shall be reported to the Colorado Division of Insurance within the Department of Regulatory Agencies. Note: Pursuant to Colorado Division of Insurance Regulations 8-1-3, notice is hereby given of the availability of a closing protection letter for the lender, purchaser, lessee or seller in connection with this transaction. Note: Pursuant to CRS 24-21-514.5, Colorado notaries may remotely notarize real estate deeds and other documents using real-time audio-video communication technology. You may choose not to use remote notarization for any document. That there is recorded evidence that a mineral estate has been severed, leased, or otherwise conveyed from the surface estate and that there is substantial likelihood that a third party holds some or all interest in oil, gas, other minerals, or geothermal energy in the property; and (A) That such mineral estate may include the right to enter and use the property without the surface owner's permission. (B) 392 Joint Notice of Privacy Policy of Land Title Guarantee Company Land Title Guarantee Company of Summit County Land Title Insurance Corporation and Old Republic National Title Insurancy Company This Statement is provided to you as a customer of Land Title Guarantee Company as agent for Land Title Insurance Corporation and Old Republic National Title Insurance Company. We want you to know that we recognize and respect your privacy expectations and the requirements of federal and state privacy laws. Information security is one of our highest priorities. We recognize that maintaining your trust and confidence is the bedrock of our business. We maintain and regularly review internal and external safeguards against unauthorized access to your non-public personal information ("Personal Information"). In the course of our business, we may collect Personal Information about you from: applications or other forms we receive from you, including communications sent through TMX, our web-based transaction management system; your transactions with, or from the services being performed by us, our affiliates, or others; a consumer reporting agency, if such information is provided to us in connection with your transaction; and The public records maintained by governmental entities that we obtain either directly from those entities, or from our affiliates and non-affiliates. Our policies regarding the protection of the confidentiality and security of your Personal Information are as follows: We restrict access to all Personal Information about you to those employees who need to know that information in order to provide products and services to you. We may share your Personal Information with affiliated contractors or service providers who provide services in the course of our business, but only to the extent necessary for these providers to perform their services and to provide these services to you as may be required by your transaction. We maintain physical, electronic and procedural safeguards that comply with federal standards to protect your Personal Information from unauthorized access or intrusion. Employees who violate our strict policies and procedures regarding privacy are subject to disciplinary action. We regularly assess security standards and procedures to protect against unauthorized access to Personal Information. WE DO NOT DISCLOSE ANY PERSONAL INFORMATION ABOUT YOU WITH ANYONE FOR ANY PURPOSE THAT IS NOT STATED ABOVE OR PERMITTED BY LAW. Consistent with applicable privacy laws, there are some situations in which Personal Information may be disclosed. We may disclose your Personal Information when you direct or give us permission; when we are required by law to do so, for example, if we are served a subpoena; or when we suspect fraudulent or criminal activities. We also may disclose your Personal Information when otherwise permitted by applicable privacy laws such as, for example, when disclosure is needed to enforce our rights arising out of any agreement, transaction or relationship with you. 393 Our policy regarding dispute resolution is as follows: Any controversy or claim arising out of or relating to our privacy policy, or the breach thereof, shall be settled by arbitration in accordance with the rules of the American Arbitration Association, and judgment upon the award rendered by the arbitrator(s) may be entered in any court having jurisdiction thereof. 394 Present:David N Tucker William A Jensen William A Jensen Robert N Lipnick Robert N Lipnick John Rediker John Rediker Scott P McBride Brad Hagedorn Robyn Smith Absent:Henry Pratt 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 Planner: Jamie Leaman-Miller Applicant Name: Vail Valley Foundation represented by Zehren and Associates 3.1 A request for review of a variance from Section 14-10-9 Fences, Hedges, Walls and Screening, Vail Town Code, pursuant to Title 12 Chapter 17, Variances, Vail Town Code to allow for a fence to exceed six feet in height, located at 540 S Frontage Road E, Unplatted - Ford Park Amphitheater (PEC24-0051) 01:09 into meeting: Planner Leaman-Miller gives a presentation on the application. Goes over the requested variance. Shows pictures from around the proposed fence location. No trees are proposed to be removed as a result of the proposed work. Amphitheater management and Vail Police Department have security concerns from the existing 6’ fence, which is why the variance is requested to go up to 8’ in height. Staff is recommending approval of the application. No questions for staff. Pedro Campos from Zehren & Associates is representing the Vail Valley Foundation. Fence would be changing to a steel fence that would be more durable. Goes over the process of getting to this design and how it will be similar to the Dillon Amphitheater. Rediker asks about the construction of the fence. Planning and Environmental Commission Minutes Monday, January 13, 2025 1:00 PM Vail Town Council Chambers PEC24-0051 Staff Memo.pdf A. Vicinity Map.pdf B. Applicant Narrative.pdf C. PEC24-0051 Plans.pdf 1 Planning and Environmental Commission Meeting Minutes of January 13, 2025 395 Campos goes over the 8’ interval between foundational pieces to secure rest of the fence. It will go in the same place as existing, but tighter intervals. Posts will be hand dug and will need to go six inches below frost line. Hagedorn asks about the height, the top pieces and if they will be spikes that could endanger wildlife. Campos says they aren’t spikes. They are trying to avoid the flat top as that makes it easier to scale. They want to have the pickets above the top rail, but they will not be sharp. Smith asks about the spikes; she has the same concerns as Hagedorn regarding something or someone being impaled. Hagedorn asks about the height of the pickets. Campos says they are 2” above the top rail. Lipnick asks how they came to the decision of six feet compared to eight feet and why. Campos states that it was a recommendation of the VPD to go up to that height. That is what they suggested. Smith does not support the height with the pickets above the rail. Does not feel safe. Campos notes that concern. McBride says this could prevent people from getting out in an emergency. Would like to hear about that. Campos says that there were some emergency evacuations gates that were added a few years ago. These would be replaced with this project. That also has emergency lighting. Rediker asks where those egress points are around the fence perimeter. Campos goes back to the pictures, and they aren’t easily visible. Rediker who has attended events there knew about east and west gates but not other emergency exits. Would like that called to the attention of the public that there are other options. Smith asks how they are activated if needed in an emergency. Campos says they are automatically locked or unlocked in the case of an emergency. There is also additional security during ticketed events to usher users to those exits in the case of an emergency. Rediker wants to confirm that the new fence would follow the same path. Campos confirms. Smith has concerns about the pickets and would like to condition the application that the top rail be flat. Rediker asks staff if that is something the PEC can look at or if it should be left to the DRB. Planning Manager Roy answers that it is a design element that is best left to the DRB, but the safety concern is valid. No public comment. Hagedorn recommends that there is flat bar on the top of the fence. Jensen echoes that concern. Lipnick agrees. Eight feet ok but would like a flat top. 2 Planning and Environmental Commission Meeting Minutes of January 13, 2025 396 Smith agrees. There are plenty of fences in Ford Park above eight feet. Would like to see the motion with a flat top because not having that would be a safety issue that doesn’t meet the criteria. Tucker agrees with all. Rediker understands the concerns. Fully respects the point that the penalty for breaking the law should not be landing on a metal picket. Current fence is easy to get over and has seen it. There could be others with ill intent that could scale it as well. Making it taller will make it more difficult to scale. They should have security on the interior of the fence patrolling it to make sure no one gets in there. Believes criteria is met and this is a safety issue. Jensen adds that this is the height being voted on and DRB should input on design. McBride agrees with Smith on the posts. We are trying to keep people out but shouldn’t be causing bodily harm if they try to scale. Recommends the DRB to look at a flat top rail. Planner: Heather Knight Applicant Name: AB Global Inc, represented by Mauriello Planning Group 3.2 A request for review of a variance from Section 12-6D-8B, Gross Residential Floor Area, Vail Town Code, pursuant to Title 12 Chapter 17, Variances, Vail Town Code to allow for an increase in the allowable Gross Residential Floor Area (GRFA) within the Two-Family Primary/Secondary Zone District located at 387 Beaver Dam Circle, Lot 1A, Block 4, Vail Village 3rd Filing (PEC24-0048). 01:29:33 into meeting: Planner Knight gives a presentation. She talks about the history of the property. Major remodels were completed on one half in 2011 and the second half in 2014, maxing out the GRFA for the property. In 2023, a building permit identified some discrepancies. Rediker asks about the definition of crawl space. Knight says its below 5’ in height, per code. Planning Manager Roy adds that, for it to not count, the ceiling height is 5’ or less, and opening is less than 12 square feet. Knight runs through the GRFA calculations. She talks about the variance criteria, staff is recommending denial as it is not meeting the criteria. Jensen, are there consequences to contractors for unpermitted work? Robert N Lipnick made a motion to Approve with the condition on page 6 and the findings on page 6 & 7 of the staff memo ; William A Jensen seconded the motion Passed (6 - 1). Voting For: William A Jensen, Robert N Lipnick, Brad Hagedorn, John Rediker, Scott P McBride, David N Tucker Voting Against: Robyn Smith PEC24-0048 GRFA Variance staff memo.pdf Attachment A. Vicinity Map.pdf Attachment B. Applicant Narrative.pdf Attachment C. 2011 Plan Set.pdf Attachment D. Title Report.pdf 387 Beaver Dam PEC Applicant Presentation 1-13-25.pdf 3 Planning and Environmental Commission Meeting Minutes of January 13, 2025 397 Roy, at the end of the days it is on the property owner to make sure their property is in compliance, the Town is unable to hold contractors specifically responsible for this. Smith, there is wetland close by here, at some point there was limitation on the amount of excavation here. What happens if the variance is denied, how is this converted back? Knight says they would need to conform to the GRFA limits set. Smith asks how does this happen? Knight says they are not aware of how this came to be. Smith, if this were accepted as GRFA, would there need to be additional excavation to allow for window wells? Knight, it may have to conform with fire sprinkler requirements, doesn’t need that second egress because it is not a bedroom. Lipnick asks if the areas in question are on the lowest level. Knight says we look at the structure as a whole, there is a level that is lower than these. The applicant is represented by Dominic Mauriello with Mauriello Planning Group. Their client bought the house as is, without the knowledge that there were spaces that were added illegally. This is a huge issue for the owner, they are also pursuing legal actions on the private side. We are exhausting our administrative options but you can also take a look at it today. We think we’re not just going through the motions, there is legitimate arguments for a variance. It doesn’t set a precedence for the whole town here, but there are extenuating circumstances here, look at this more as a case-by-case basis. Mauriello says they avoided all wetlands, what’s underneath the building was already disturbed. The definition of GRFA has some problems, especially with the basement deductions. If it’s underground you should get the deduction, we're trying to prevent people getting two floors deductions. If the owner was tearing this building down, they wouldn’t be getting another 600 sf, they would be getting thousands because you would build this house very differently. It’s unfortunate they did the renovation two years before the change in GRFA calculation. Mauriello says it looks like a storage room right now, one of the complicating factors is that there is mechanical space in the back of it. There has been a web of different changes to the code since this property was constructed. The secondary units in the P/S district didn’t benefit as much from the changes to code that allowed more GRFA. Mauriello talks about the evolution of GRFA in the Town. He addresses the variance criteria. Tucker asks about the idea that rebuilding would grant more floor space? Would that even be possible with wetland restrictions? Mauriello, it is a horizontal line, not a vertical line. There are not impacts to wetlands to his knowledge. Jensen, troubled that this was done illegally and if the PEC approved it, that would give license to others to do it. Your arguments are significant, but as the PEC its hard to weigh in. Would like to see this go in front of Town Council and let them address the questions about GRFA. McBride asks when did the applicant first contact the Town to figure out there was an issue? Mauriello says long after purchase. They submitted building permit plans, not knowing this space was done illegally. Had it been disclosed by the seller, it would have been a different situation, the Town didn’t know at the time. 4 Planning and Environmental Commission Meeting Minutes of January 13, 2025 398 McBride, what happens if the applicant gets a variance and wins the court case? Mauriello, there’s probably some issues that occur in there, maybe the client gets money back but the money doesn’t solve the problem. Would love to see the PEC direct staff to fix the GRFA regulations. Rediker, does the client agree that under current code for GRFA their residence exceeds the allowable? Mauriello confirms. Rediker says this GRFA is not conforming unless it was granted a variance. McBride, how long did it take to an answer from the Town? Knight says the Town didn’t know about this until a building permit was submitted for some minor interior work. McBride says that’s a question that the owner could have asked when they purchased. Mauriello says they had no reason to understand that there may be unpermitted additions. He talks about another case on Potato Patch. Rediker says we're not here today to debate the Town’s GRFA code. Mauriello says we are to the extent that the hardship is to give fair and equal treatment to a building with a stepped foundation against a new build. Roy, you’re correct we’re not here to debate GRFA. The code was applied equally and consistently. Rediker, your client is asking us to resolve a lawsuit. He has sympathy for their situation, but are they asking the PEC to rectify the situation? Maureillo, when we took a step back, forgetting about the fraudulent situation, could you recognize the code has some inequities in it? You’ve got a stepped foundation, what is the spirit and intent of the law given these circumstances. Rediker, is the inequity with the code or because of how the house was constructed? Mauriello, the house was built before the basement deduction came into effect. People doing new builds are able to realize more square footage through that. Jensen asks about ceiling height. Knight says if they’ve rectified removing the GRFA, and it’s exempt it could move forward. Smith clarifies that improvements should not exacerbate a non-conformity? Knight confirms. Smith says granting this variance would increase the non-conformity. Roy talks about the difference between illegal and legal non-conformities. Tucker asks about the building permit. Knight and Tucker discuss the code considerations. Hagedorn, what is the status of the home currently? Knight, it is occupiable, the remodel application has been stopped. McBride, not sure this is the right vehicle for us to address this. Rediker ask for public comment. There is none. Rediker asks for commissioner comment. Hagedorn, agrees GRFA definition is broken, supports a redesign of how it's spelled out, right not it 5 Planning and Environmental Commission Meeting Minutes of January 13, 2025 399 incentivizes blowing out a site. Would be in support of redefining that, wants to prevent three stories of subterranean living space like we've seen in peer communities. At the same time, that is the best path for your client to resolve this. We are not a policy setting body, that is council. Within that context, do see this variance as a special privilege. The seller misrepresented at the sale, this is turning to the PEC for remedy on a private property dispute. Don’t see that as the right path or illegal activities as a hardship. We would not grant a GRFA variance with a new build, this meets criteria one and three but fails two. Jensen shared similar views, concerned about precedent and special privilege, doesn’t support the request. Lipnick, agrees with Hagedorn, Council sets policy. Doesn’t meet criteria, doesn’t support it. Smith, concurs with others. The applicant is a victim, the community is also the victim. Limiting the size of a residence is necessary, the applicant is not being penalized the property just needs to come into conformity. If the GRFA rules are not creating the desired outcomes, we should amend those rules, there is a process that is not the variance criteria. The variance would be a grant of special privilege, if we’re rewarding and incentivizing illegal GRFA it incentivizes that behavior. This fails all three criteria. Tucker, because it is case-by-case, if the opposite end is rebuilding just to maximize GRFA, then granting some additional storage space would be allowable. McBride, this is a private property dispute, concerned about the precedent, maybe not legal precedent, but just because somebody gets a raw deal they can now benefit from that. Sorry the owners had to deal with that, hopefully there is recourse in the courts. This could have been easily remedied at the time of purchase by contacting the Town of Vail. Rediker, we had an excellent presentation by the applicant, sympathetic to the applicant and their situation. But we're looking at the variance criteria, one and two are not met. This would be a grant of special privilege, no other properties would be given extra GRFA. We can’t condone illegal activity after the fact by allowing the victim to seek redress here. The recourse for the applicant is civil action. Your client was victimized and sympathetic for that, but it doesn’t meet the criteria, this is not appropriate forum to settle the dispute. Hagedorn says the buyers are enjoying use of the property currently, nothing is stopping them from that. 3.3 A request for a recommendation to the Vail Town Council of an application to reestablish Special Development District No. 43, pursuant to Section 12-9(A), Special Development Districts, Vail Town Code, to allow for the development of a hotel addition, add conference space and an employee housing apartment building, and related uses and improvements, located at 2211 North Frontage Road West which is composed of Tract C, Lot 1, Lot 2, and Lot 3 Vail Das Schone Filing No. 1 and Lot 1, Vail Das Schone Filing 3, and setting forth details in regard thereto. (PEC24-0039) This item's attachments can be found with item 3.2 PEC24-0044 Planner: Greg Roy William A Jensen made a motion to Deny with the findings on page 13-14; Robyn Smith seconded the motion Passed (6 - 1). Voting For: William A Jensen, Robert N Lipnick, Robyn Smith, Brad Hagedorn, John Rediker, Scott P McBride Voting Against: David N Tucker 6 Planning and Environmental Commission Meeting Minutes of January 13, 2025 400 Applicant Name: TNFREF III Bravo Vail LLC represented by Mauriello Planning Group 31:00 into meeting: Planner Roy gives a presentation. He walks through the vicinity map, the history of the property, and the applications being looked at today. He walks through the existing conditions and the proposal. He talks about the deviations with the SDD, the proposed conditions, and about the sidewalks and the context of the master plan. He talks about the proposed employee housing on the site. Hagedorn asks about the sidewalk. Roy says the Town Engineer recommends the sidewalk stays in the plan, because of the increased density and use south of Chamonix, to prepare it for future use. The applicant is represented by Dominic Mauriello with Mauriello Planning Group. Smith and Mauriello discuss types of sidewalks. Smith asks if the fire truck pullout will be maintained in the winter. Roy says it will need to be maintained. Smith & Roy discuss possible sidewalk configurations and possible access to the west. Smith says a lot of this is a separate conversation from the application as far as public way improvements. Tucker asks about possible speed control coming out of the roundabout, especially with increased pedestrian traffic. Discussion about a potential condition related to the infrastructure around the project. Jensen would like to hear more from public works. Rediker, we’ve noted the concern about the entrance points. Smith, can we ask the applicant to include a condition that all exterior lighting shall be full cutoff? Roy says Town Code is full cutoff, they could ask the applicant if they want to go beyond that as far as limiting the lumens. Mauriello talks about the history of the site, the Town previously approved the SDD on two separate occasions by ordinance. The deviations being requested were also previously approved. Mauriello says they would be happy with condition that the applicant shall provide two pedestrian sidewalk connections to Chamonix lane subject to DRB approval. He talks about the geotechnical report. He talked to the hotel who lowered the lights, and they will fully address this by January 25th. They will meet Town Code, which is full cutoff. Smith, the concern is the lighting near the EHU building. Mauriello, that condition is fine and it should be addressed by February. Mauriello presents about the snow management plan. He talks about the parking study for the project. With the West Vail Master Plan, they are even more consistent with the master plan at this point. Smith asks about the geotechnical report. Mauriello says the report says it’s not a problem to build there but there may need to be some engineering details to be worked out. There has been mitigation work done north of Chamonix to address this as well. 7 Planning and Environmental Commission Meeting Minutes of January 13, 2025 401 Rediker asks about the relief for the height on the existing building. The buildings that are being built comply with PA-2? Mauriello confirms. Mauriello says all the lighting is required to be cutoff so a lighting condition is not necessary. Rediker asks for public comment, there is none. Public comment closed. Rediker asks for commissioner comment. Tucker, the applicant put together a good plan and addressed our concerns. Smith, the staff memo details all the thought and requirements that went into this approval the first time around. Being able to look back and see how it met the criteria, confident that each of the criteria are met. Advocates to add a condition about the sidewalks. For the public, there is a lot improvement that can be made to the public works part of it, but the public that cares about this process will need to advocate for it moving forward. It’s not appropriate to hang public decision making on one applicant, as far as this concerned, good to go. Lipnick, the applicant has answered our questions from last meeting. Supports the project, including the employee housing. Jensen, thanks applicants for addressing parking for the EHUs. Supports proposal, the parking study validates the parking plan. Feels good about this project because it anchors the west end, start of the west vail redevelopment. Hagedorn, fine with parking proposal as presented, appreciates the EHU parking. There is strong public benefit to accelerating development of EHUs. It's very important that we don’t re-trade approvals, there's responsibility to respect the work that has been done previously. Even without that, it meets the criteria set forth. McBride, agrees with Smith and Hagedorn, in support. Rediker, agrees with commissioners. Not just this commission, but the prior discussions that have occurred. Hagedorn makes some good points about the continuity of government, we’ve heard everything here and are making our own decision, but do respect the prior thought that went into this. Staff did an excellent job in the memo breaking down the criteria, agrees with staff’s analysis. Planner: Greg Roy Applicant Name: TNFREF III Bravo Vail LLC, represented by Mauriello Planning Group 3.4 A request for review of an Exterior Alteration, pursuant to Section 12-7J-12, Exterior Alterations or Modifications, Vail Town Code, to allow for a hotel addition and an EHU apartment building, located at 2211 North Frontage Road West which is composed of Tract C, Lot 1, Lot 2, and Lot 3 Vail Das Schone Filing No. 1 and Lot 1, Vail Das Schone Filing 3, and setting forth details in regard thereto. (PEC24-0044) William A Jensen made a motion to Recommend for approval with the findings on page 27 ; Robyn Smith seconded the motion Passed (7 - 0). Staff Memorandum - PEC24-0039 & 0044.pdf Attachment A. Vicinity Map.pdf Attachment B. Applicant Narrative 1-3-25.pdf Attachment C. McDowell Parking Analysis.pdf Attachment D. Skyline Geoscience Geologic Study.pdf 8 Planning and Environmental Commission Meeting Minutes of January 13, 2025 402 This item heard concurrently with 3.3 4.Approval of Minutes 4.1 PEC Results 12-23-24 5.Information Update Planner Roy passes along a notice from the Environmental Department about a water rights meeting happening on that Tuesday at CMC in Edwards. Planner Roy notes that there were 55 PEC applications in 2024 compared to the 2022 and 2023 average of 30 PEC applications. Thanks the Commission for their time and effort. Smith asked about a news blast that said the PEC granted a variance for a fence out in Matterhorn and didn't remember a fence coming before the Commission. Planner Roy clarifies that it was a DRB application and was not a variance. He gives a summary of the application and the process. It did not come before the PEC. 6.Adjournment Attachment E. McDowell Transportation Impact Study.pdf Attachment F. Project Plan Set.pdf Attachment G. PEC Meeting Minutes 12-23-24.pdf Robyn Smith made a motion to Approve with the conditions on pages 28 and 29 and the findings on page 29 and the added condition that the applicant provide two western sidewalk connections to Chamonix Road; William A Jensen seconded the motion Passed (7 - 0). Robert N Lipnick made a motion to Approve ; Robyn Smith seconded the motion Passed (7 - 0). PEC Results 12-23-24.pdf David N Tucker made a motion to Adjourn ; William A Jensen seconded the motion Passed (7 - 0). 9 Planning and Environmental Commission Meeting Minutes of January 13, 2025 403 PRESENTATION BY Heather Knight Planner II TC25-0002 387 Beaver Dam Circle GRFA Variance Appeal 404 Vicinity Map Town of Vail | TC25-0002| vail.gov 405 Background Town of Vail | TC25-0002| vail.gov •In the late 1990s, the Town approved a separation request for the primary unit and secondary unit to be detached due to wetlands and a small stream that is located on the property. •A duplex plat was recorded in 2002 with Lot 1A (the property of focus for this application) as the secondary unit and Lot 1B as the primary unit. •The entire Lot 1 is one development lot for zoning standards calculation purposes, including GRFA. •Of Lot 1, Lot 1A is 0.1857 acres and Lot 1B is 0.6814 acres for a total development lot size of 0.8671 acres (37,771sf). 1A 1B - primary 406 GRFA Definition Town of Vail | TC25-0002| vail.gov Per 12-15-1, GRFA (Gross Residential Floor Area) is intended to control and limit the size, bulk and mass of residential structures within the town. GRFA regulation is an effective tool for limiting the size of residential structures and ensuring that residential structures are developed in an environmentally sensitive manner by allowing adequate air and light in residential areas and districts. Basements: On the lowest level of a structure, the total percentage of all exterior wall surfaces of the structure as a whole (interior party walls are not considered exterior walls for the purposes of this section) that are unexposed and below existing or finished grade, whichever is more restrictive, shall be the percentage of the horizontal area of the lowest level deducted from the GRFA calculations. The lowest level shall be the finished floor level with the lowest USGS elevation, including all floor levels within six vertical feet of the lowest level. 407 GRFA History Town of Vail | TC25-0002| vail.gov •In July 2004, the Vail Town Council approved Ordinance 14, Series of 2004 to amend the GRFA regulations and calculations. The basement deduction calculation was introduced, and new calculations based on site/lot area were implemented. The result of this Ordinance increased the allowable GRFA for the entirety of Lot 1 from 6,488sf to 8,916sf. The basement deduction was later modified in subsequent Ordinances but is still a part of the GRFA calculation to date. •In November of 2011, Lot 1A was sold and a major remodel was completed on the secondary unit.The owner of the secondary residence participated in the EHU exchange program and converted the EHU living space into GRFA for the residence. The remodel and elimination of the EHU used 3,566 sq. ft. of GRFA.This 2011 remodel maxed out the GRFA allowed for the secondary unit. 408 GRFA History Town of Vail | TC25-0002| vail.gov •Lot 1B, the primary unit, underwent a major remodel in 2014 which utilized 5,354 sq. ft. of GRFA.This additional space exceeded their allowable 60% of the GRFA by 4sf. With this remodel, the entirety of the development lot (Lot 1) was maxed out on GRFA at 8,920sf. •In 2023, Lot 1A was sold to the applicant, AB Global Inc. Shortly thereafter, the applicant applied for a building permit for interior renovations to the property. Town of Vail staff identified a discrepancy in plans and square footage of the property. The areas identified as crawl space had been converted into living space, equating to approximately 661 sf of GRFA. 409 Previously converted spaces Town of Vail | TC25-0002 | vail.gov •The former mechanical crawl space below the garage was converted to a wine cellar (shown as blue on main level plan below). This space is located almost entirely below grade but is not considered to be on the lowest level of the home and therefore cannot be counted as excluded basement area for GRFA calculation purposes. •The second space is beneath another garage area and was converted from a mechanical crawl space to a butler’s pantry and laundry area (shown as yellow on main level plan below). The space is also entirely below grade but not on the lowest level of the house. 410 Previously converted spaces Town of Vail | TC25-0002 | vail.gov •The final space is on the lowest level of the house and was originally noted as crawl space (shown as blue on the lower level plan below). The height of the space is now greater than 5’-0”. There are no windows but a new door from the interior has been constructed. Previously, there was no access from the interior of the home. Because this space is on the lowest level of the home and is below grade, it can be partially deducted from the GRFA calculation. 411 Zoning Summary Town of Vail | TC25-0002 | vail.gov Development Standard* Allowed / Required Existing Proposed Change Site Area 15,000 SF of Buildable Area 0.8671 acres / 37,771 sf No Change Density (DUs)Max. 2 2 2 No Change Density (GRFA)8,916 sf 9,581 sf 9,581 sf +665 SF (4sf increase from Lot 1B and 661 from Lot 1A) Converted area 412 Variances Town of Vail | TC25-0002 | vail.gov Title 12 –Variances, Vail Town Code 12-17-1: Purpose: A.Reasons For Seeking Variance: In order to prevent or to lessen such practical difficulties and unnecessary physical hardships inconsistent with the objectives of this title as would result from strict or literal interpretation and enforcement, variances from certain regulations may be granted. A practical difficulty or unnecessary physical hardship may result from the size, shape, or dimensions of a site or the location of existing structures thereon; from topographic or physical conditions on the site or in the immediate vicinity; or from other physical limitations, street locations or conditions in the immediate vicinity. Cost or inconvenience to the applicant of strict or literal compliance with a regulation shall not be a reason for granting a variance. 413 PEC Criteria for Review Town of Vail | TC25-0002 | vail.gov 1.The relationship of the requested variance to other existing or potential uses and structures in the vicinity. 2.The degree to which relief from the strict or literal interpretation and enforcement of a specified regulation is necessary to achieve compatibility and uniformity of treatment among sites in the vicinity, or to attain the objectives of this title without grant of special privilege. 3.The effect of the requested variance on light and air, distribution of population, transportation and traffic facilities, public facilities and utilities, and public safety. William A Jensen made a motion to Deny with the findings on page 13-14 of the staff memo; Robyn Smith seconded the Motion. The Motion passed (6 - 1). (Voting For: William A Jensen, Robert N Lipnick, Robyn Smith, Brad Hagedorn, John Rediker, Scott P McBride; Voting Against: David N Tucker) 414 Discussion / Action Town of Vail | TC25-0002 | vail.gov Should the January 23, 2025, decision of the Planning and Environmental Commission be upheld? Pursuant to Section 12-3-3, Vail Town Code, the Vail Town Council must uphold, uphold with modifications, or overturn the Planning and Environmental Commission’s January 23, 2025, decision. The Town Council must act by motion, with such motion to be approved by a majority of those present. 415 Thank you 416 GRFA VARIANCE PLANNING AND ENVIRONMENTAL COMMISSION JANUARY 13, 2025 387 BEAVER DAM CIRCLE 1 417 Subject Property: 387 Beaver Dam Circle Beaver Dam Road Beaver Dam Circle Forest Road W. M e a d o w D r i v e Rockledg e R o a d 2 418 Subject Property: 387 Beaver Dam Circle Lot 1A Lot 1B 3 419 INTRODUCTION •AB Global purchased 387 Beaver Dam Circle in July of 2023 •Previous owners converted crawl spaces to GRFA without approvals •Only discovered when the owner submitted building permit plans for small remodel •Owners are looking to resolve the issue •Hoping to maintain the use of the spaces in home 4 420 GRFA CONVERSION •Area 1: 354 sf •Below the 2-car garage •Entirely below grade •Excavated to >5ft in head height •No windows •Used as storage, mechanical, wine cellar •Lowest level in this section of home 5 421 GRFA CONVERSION •Area 2: 317 sf •Beneath single garage •Almost entirely below grade •Excavated to >5ft in head height •No windows •Converted into laundry area and pantry •Lowest level in this section of home 6 422 GRFA CONVERSION •Area 3: 174 sf •Entirely below grade •Excavated to >5ft in head height •No windows •Used as a storage area •On the lowest level of the home = allowed as a deduction from GRFA 7 423 REQUEST OF PEC •Owner requesting GRFA variance to allow spaces to remain livable areas •Equates to approximately 660 sf in excess of allowable GRFA for property •Owner understands is difficult request to make of Town, but is looking to find reasonable solution for all parties involved •Owner believes there is justification for GRFA variance •If approved - ➡Owner understands spaces need to be updated to current building code requirements ➡Will undergo appropriate permitting process to ensure all life safety requirements are met 8 424 HISTORY AND BACKGROUND 9 425 PROPERTY HISTORY •1999: Town approved separation request for detached duplex due to wetlands and small stream running through property •2002: Duplex plat was recorded with Lot 1B as primary and Lot 1A as secondary unit + EHU ‣As required on all duplex plats, restriction that GRFA calculated on combined area of two parcels ‣At time, entirety of the property was maxed out on GRFA •2002: Lot 1A was sold to HIBOU Colorado Properties LLC 10 426 11 387 Beaver Dam Circle - Secondary Unit 381 Beaver Dam Circle - Primary Unit Stream and Wetland Vegetation 427 Subject property: 387 Beaver Dam Circle Lot 1A Lot 1B 12 428 GRFA CHANGES PROPERTY HISTORY •2004: Town completed major rewrite of the GRFA regulations ➡Changes had effect of increasing allowable GRFA for entirety of Lot 1 from 6,488 sf to 8,916 sf ➡Impacted the 60/40 split due to the way credits were granted 13 429 LOT 1A - SECONDARY UNIT PROPERTY HISTORY •2011: Lot 1A sold to HCH Organization LLC and major remodel completed on home •Owner participated in EHU exchange program - converted EHU space into GRFA for residence •Remodel and elimination of EHU used 3,566 sf of GRFA •Maxed out GRFA allowed for Lot 1A as secondary unit 14 430 LOT 1B: PRIMARY UNIT PROPERTY HISTORY •2014: Lot 1B underwent major remodel utilized 5,354 sf of GRFA •With this remodel, entirety of property maxed out on GRFA at 8,919 sf 15 431 CURRENT OWNER OF LOT 1A PROPERTY HISTORY •2023: Lot 1A sold to AB Global Inc. ➡Submitted building permit to Town of Vail for interior renovations to the unit •Unbeknownst to current owners, prior owner converted areas identified as “crawl space” on 2011 plans into GRFA •Spaces equate to additional 662 sf of GRFA •Town identified issue during review of building permit ➡Town informed current owner that GRFA issue needed to be resolved 16 432 2002 2011 2014 2024 New Construction Total GRFA: 6,488 sf P: 3,808 sf S: 2,680 sf Remodel of Secondary Total GRFA: 7,179 sf P: 3,614 sf S: 3,565 sf Remodel of Primary Total GRFA: 8,919 sf P: 5,354 sf S: 3,565 sf New owner submits plans to TOV, illegal conversion identified 2004 Town amends GRFA allowance and calculation method 17 433 GRFA REGULATIONS 18 434 TOWN’S GRFA REGULATIONS Original GRFA allowance as established in Ordinance 30 of 1977 for Primary Secondary (P/S) Zone District was: 25% of the first 15,000 sf of lot area 10% of 15,000 sf to 30,000 sf of lot area 5% of the site area in excess of 30,000 sf of lot area The secondary unit was not to exceed 1/3 of the allowable GRFA Gross Residential Floor Area in Vail always been difficult to implement 19 435 TOWN’S GRFA REGULATIONS 1981: Ordinance 23 of 1981 to allowed the secondary unit to be a maximum of 40% of the allowable GRFA 1985: Town adopted “250 Ordinance” - allowed any 5 year old existing unit to add 250 sf above GRFA limit 1990: Town undertook first major overhaul of GRFA •Modified definition of GRFA •P/S district granted additional 425 sf per allowable dwelling unit, increasing allowable GRFA by 850 sf •Applied after the 60/40 split 1995: “250 Ordinance” was amended •Eliminated ability to use 250 if a demo/rebuild •Required review by the PEC •Allowed only units that were in existence prior to November 30, 1995 to use “250” 20 436 TOWN’S GRFA REGULATIONS •Common throughout 1980s and 1990s, Town faced on-going issues with enforcement of GRFA •Growing concern owners were doing work without permits, compromising the safety with illegal construction activities •1997: Town added “Interior Conversions” to GRFA Chapter ➡allowed units in existence prior to 1997 to do Interior Conversion ➡adopted in recognition that many owners had converted non-habitable space into GRFA without appropriate permits ➡If this provision still existed today, no variance would be required 21 437 TOWN’S GRFA REGULATIONS § 12-15-4 INTERIOR CONVERSIONS. (A) Purpose. This section provides for flexibility and latitude with the use of interior spaces within existing dwelling units that meet or exceed the allowable gross residential floor area (GRFA). This would be achieved by allowing for the conversion of existing interior spaces such as vaulted spaces, crawl spaces and other interior spaces into floor area, provided the bulk and mass of the building is not increased. This provision is intended to accommodate existing homes where residents desire to expand the amount of usable space in the interior of a home. The town has also recognized that property owners have constructed interior space without building permits. This provision is also intended to reduce the occurrence of interior building activity without building permits and thereby further protecting the health, safety, and welfare of the community. 22 438 TOWN’S GRFA REGULATIONS •2002: Group of owners and other interested parties submitted application to Town of Vail in 2002 with simple premise: “Eliminate GRFA and allow the other development regulations such as site coverage and height to regulate bulk and mass, especially in the low density residential zone districts.” •Clear from staff memorandums from time that because Interior Conversion only applied to units constructed prior to 1997, staff was continually dealing with enforcement issues relating to illegal conversion of crawl or lofted spaces to GRFA •The PEC memo from October 14, 2002, states: 23 439 PG. 9, STAFF MEMORANDUM TO PEC DATED OCTOBER 14, 2002 ARE THERE SAFETY IMPLICATIONS OF GRFA? THERE IS A SIGNIFICANT ECONOMIC INCENTIVE TO UTILIZE EVERY SQUARE FOOT IN VAIL’S REAL ESTATE MARKET. ILLEGAL CONSTRUCTION TO CREATE NEW FLOOR AREA HAPPENS FREQUENTLY. SOMETIMES THE TOWN IS ABLE TO IDENTIFY AND STOP THIS ACTIVITY AND SOME TIMES IT DOES NOT. THE RESULT IS OFTEN CONSTRUCTION WITHOUT A BUILDING PERMIT. THEREFORE FIRE ALARMS, FIRE ACCESS , SAFE CONSTRUCTION ARE ISSUES THAT MAY NOT BE ADDRESSED… 24 440 TOWN’S GRFA REGULATIONS •Notably, much of research in early 2000s included research completed in the mid-1990s which was based on a similar premise: ➡GRFA is difficult to administer and has lead to construction completed without building permits - compromising the safety of residents and guests •PEC members continually stated that basements and crawl spaces were always most problematic aspect of GRFA regulations Chairperson of PEC stated: “…Below grade not being counted was a unanimous decision. He stressed simplicity and said that a restriction of basements not exceeding the actual footprint of the structure might be implemented successfully.” (PEC Minutes from August 11, 2023) 25 441 TOWN’S GRFA REGULATIONS •2004: Following years of discussions and hearings, Ordinance 14 of 2004 provided major overhaul of GRFA •GRFA calculations for P/S district amended as follows: 46% of the first 10,000 sf of lot area 38% of 10,000 sf to 15,000 sf of lot area 13% of 15,000 sf to 30,000 sf of lot area 6% of the site area in excess of 30,000 sf of lot area The secondary unit was not to exceed 40% of the allowable GRFA •425 sf credit per allowable unit was eliminated. •Allowance for “250 Additions” and “Interior Conversions” were eliminated for many zone districts, including P/S-zoned properties. •Under assumption GRFA was increased enough to capture these other allowances - not sure that was successful assumption. 26 442 TOWN’S GRFA REGULATIONS •While methodology of measuring GRFA was modified with Ordinance 14, biggest change was allowing for basements to be deducted from calculation •Major point of discussion during amendment process, as it was argued that basements areas should not be counted toward GRFA because they do not have an impact on structure’s bulk and mass •The language adopted in 2004 was as follows: 6. Basements: on the lowest level of a structure, the total percentage of exterior wall surfaces unexposed and below existing or finished grade, whichever is more restrictive shall be the percentage of the horizontal area of the lowest level deducted from the GRFA calculations. The percentage deduction calculations shall be rounded to the near whole percent. The lowest level’s exterior wall surface area shall be measured from the finished floor elevation of that level to the underside of the structural floor members of the floor/ceiling assembly above. For the purposes of these calculations, retaining walls and site walls shall not be considered part of the lowest level’s exterior walls. 27 443 TOWN’S GRFA REGULATIONS •However, language lacked clarity and by 2016, was disagreement amongst applicants and staff on implementation of basement deduction •Many believed that initial discussion was that basement credit was meant to apply to to any space that was generally below grade ➡Especially important in that Design Guidelines encourage stepping of foundations to create more environmentally sensitive designs on steep slopes •Additionally, in case of duplex units, staff began interpreting that only unit at lowest grade got to take advantage of basement credit •So your neighbor in the lower unit gets the credit but you do not 28 444 •Unfortunately, even graphics used at time to discuss basement levels assumed simple rectangular floor plan ➡Uncommon in construction of dwelling units in Vail •So record lacked some clarity on how basement deduction was to be applied to multi-unit structures TOWN’S GRFA REGULATIONS 29 Graphic used by staff to illustrate basement deductions during the 2004 review process for the GRFA amendments. 445 TOWN’S GRFA REGULATIONS • In 2016, the basement deduction was amended to read as follows: 6. Basements. On the lowest level of a structure, the total percentage of all exterior wall surfaces of the structure as a whole (interior party walls are not considered exterior walls for the purposes of this section) that are unexposed and below existing or finished grade, whichever is more restrictive, shall be the percentage of the horizontal area of the lowest level deducted from the GRFA calculations. The lowest level shall be the finished floor level with the lowest USGS elevation, including all floor levels within six vertical feet of the lowest level. A multi-unit building shall be considered one structure. The percentage deduction calculations shall be rounded to nearest whole percent. The lowest level exterior wall surface area shall be measured from the finished floor elevation of that level to the underside of the structural floor members of the floor/ceiling assembly above. For the purposes of these calculations, retaining walls and site walls shall not be considered part of the lowest level exterior walls. The deduction shall be applied to all horizontal areas on the lowest level of a structure, including garages and employee housing units also deducted from the calculation of GRFA elsewhere in this title; but the deduction does not apply to any crawl space or attic 30 446 TOWN’S GRFA REGULATIONS •Unfortunately, this had effect of eliminating any benefit to doing stepped foundation ➡Now it explicitly states that only very lowest level of structure gets deduction •As result, it is more common to see entire building sites scraped to maximize basement credit and allowable GRFA •Additionally, basement deduction language still fails to address one fundamental issue with GRFA regulations in the Town of Vail: conversions of existing crawl space to GRFA 31 447 TODAY - NO ONE BUILDS THIS 32 Lowest Lowest Lowest 448 WHY DOES ALL THIS MATTER? 33 449 387 BEAVER DAM CIRCLE •Home originally constructed in 2002 - not eligible for 250 addition or interior conversion due to date requirements for processes •Pre-dated adoption of new GRFA allowances and calculation methodologies •Constructed at time when Town strongly encouraged stepped foundations to minimize site disturbance. •Property was further constrained by wetlands and perennial stream that runs between Lot 1A and Lot 1B. ➡It was because of these impacts that the home was granted a separation request by the DRB 34 387 Beaver Dam Circle - Secondary Unit 381 Beaver Dam Circle - Primary Unit Stream and Wetland Vegetation 450 •Siting of home and use of stepped foundation was recommended by wetland report ➡Intended to reduce construction disturbance around house to a zone not to exceed 5 ft. •Construction method created crawl spaces at multiple levels of home, as shown in plans from permit plans from 2002 387 BEAVER DAM CIRCLE 35 451 Crawl space converted in 2011 - deducted from GRFA because on lowest level of structure Crawl space that cannot be deducted from GRFA as is on main level of structure, even though almost completely buried 36 Building Permit Plans from 2002 Stepped foundation based on wetland report 452 387 BEAVER DAM CIRCLE Recognized in 2004 staff memo for GRFA amendment that methodology of only excluding lowest level would discourage design of buildings with stepped foundations: By excluding the lowest level of a structure from the GRFA calculations, this amendment creates an incentive to maximize the size of the lowest level (equivalent to the allowable site coverage). This also discourages the design of buildings that “step-up” a site where the alignment of the building steps in response to the site topography. This then encourages a greater amount of site excavation that results in more disturbance to existing soils and the more destruction of existing vegetation. When calculating GRFA, deductions such as those for crawlspaces and garages located on the lowest level of a building will be applied first and then a basement deduction will be applied. This methodology continues to encourage the construction of crawlspaces designed to be illegally converted to GRFA at a future date. pg. 9, Staff Memorandum to Town Council, July 6, 2004 37 453 387 BEAVER DAM CIRCLE Furthermore, 2004 staff memo recognized that methodology to deduct basements from GRFA could create justification for variances from GRFA regulations, stating: This amendment may create justification for variances from the GRFA regulations. If below-grade spaces are deducted from the GRFA calculations, the Town can anticipate receiving variance applications for lots where the construction of a basement is not physically practical (i.e. the presence of bedrock, high water tables near creeks and wetlands, excessively steep slopes, the presence of existing buildings and structures, etc.) pg. 8-9, Staff Memorandum to Town Council, July 6, 2004 38 454 CRITERIA FOR REVIEW 39 455 THE RELATIONSHIP OF THE REQUESTED VARIANCE TO OTHER EXISTING OR POTENTIAL USES AND STRUCTURES IN THE VICINITY. CRITERIA #1 •Beaver Dam Road and Beaver Dam Circle neighborhood is zoned P/S, with generally all lots allowed two dwelling units •Property adjacent to Town of Vail- owned open space property zoned Agricultural and Open Space The Town of Vail Zoning Map indicates that all lots along West Forest Road are zoned Primary/Secondary. The adjacent property to the south is owned by the USFS, zoned “Resource Preservation” by Eagle County. 40 456 THE RELATIONSHIP OF THE REQUESTED VARIANCE TO OTHER EXISTING OR POTENTIAL USES AND STRUCTURES IN THE VICINITY. CRITERIA #1 •Proposed GRFA variance has no impact to properties in the vicinity •Spaces in question have existed since original construction of home in 2002 •While it is unknown when illegal conversion to GRFA occurred, bulk and mass of structure did not change from its original construction •Even exterior remained exactly same - no exterior windows, doors, etc. were added as part of conversion •Lower level spaces with no impacts to other neighboring properties •Because of this, proposed variance is consistent with uses and structures, both existing and potential, in the vicinity. 41 457 THE DEGREE TO WHICH RELIEF FROM THE STRICT OR LITERAL INTERPRETATION AND ENFORCEMENT OF A SPECIFIED REGULATION IS NECESSARY TO ACHIEVE COMPATIBILITY AND UNIFORMITY OF TREATMENT AMONG SITES IN THE VICINITY, OR TO ATTAIN THE OBJECTIVES OF THIS TITLE WITHOUT GRANT OF SPECIAL PRIVILEGE. CRITERIA #2 •The applicant acknowledges that GRFA variances are rare within the Town of Vail. •However, this property is unique. •The site is constrained by a perennial steam and wetlands on the property. •The impacts of these were the basis for a separation request that was granted by the Design Review Board when the development of the site was approved by the Town. 42 458 THE DEGREE TO WHICH RELIEF FROM THE STRICT OR LITERAL INTERPRETATION AND ENFORCEMENT OF A SPECIFIED REGULATION IS NECESSARY TO ACHIEVE COMPATIBILITY AND UNIFORMITY OF TREATMENT AMONG SITES IN THE VICINITY, OR TO ATTAIN THE OBJECTIVES OF THIS TITLE WITHOUT GRANT OF SPECIAL PRIVILEGE. CRITERIA #2 •Primary unit constructed on larger buildable area of site, NE of wetlands, while secondary unit constructed on smaller portion of site, to SW of wetlands •Because secondary unit was more constrained by wetlands, construction of home required limited site disturbance to protect wetland vegetation and perennial stream •Remaining buildable area then necessitated orientation of home to run more perpendicular to grade, rather than running parallel to grade •Wetland report recommended stepped foundation with no site disturbance to occur within 5 ft. of foundation •Construction method inevitably led to crawl spaces at lowest level of each step of foundation •These factors are unique to this site 43 459 THE DEGREE TO WHICH RELIEF FROM THE STRICT OR LITERAL INTERPRETATION AND ENFORCEMENT OF A SPECIFIED REGULATION IS NECESSARY TO ACHIEVE COMPATIBILITY AND UNIFORMITY OF TREATMENT AMONG SITES IN THE VICINITY, OR TO ATTAIN THE OBJECTIVES OF THIS TITLE WITHOUT GRANT OF SPECIAL PRIVILEGE. CRITERIA #2 •Combine this with fact that existing structure was built just prior to 2004 GRFA amendments, which created deductions for basement areas on only the lowest level •Staff noted in adoption of these basement deductions this there would then be justifications for GRFA variance based on factors that specifically apply to this lot: high water tables near creeks / wetlands and presence of existing buildings and structures 44 460 THE DEGREE TO WHICH RELIEF FROM THE STRICT OR LITERAL INTERPRETATION AND ENFORCEMENT OF A SPECIFIED REGULATION IS NECESSARY TO ACHIEVE COMPATIBILITY AND UNIFORMITY OF TREATMENT AMONG SITES IN THE VICINITY, OR TO ATTAIN THE OBJECTIVES OF THIS TITLE WITHOUT GRANT OF SPECIAL PRIVILEGE. CRITERIA #2 •If home been constructed after 2004 GRFA amendments, it may have been constructed differently - in manner that would have more successfully maximized basement deduction •However, may not have been possible due to physical constraints of lot •As identified by staff, presence of perennial stream and wetlands could have been viable justification for variance •Similarly, previous owner could have requested GRFA variance prior to conversion of the crawl spaces into GRFA using stream and wetlands, along with presence of existing structure, which was also identified by staff as justification for GRFA variance 45 461 THE DEGREE TO WHICH RELIEF FROM THE STRICT OR LITERAL INTERPRETATION AND ENFORCEMENT OF A SPECIFIED REGULATION IS NECESSARY TO ACHIEVE COMPATIBILITY AND UNIFORMITY OF TREATMENT AMONG SITES IN THE VICINITY, OR TO ATTAIN THE OBJECTIVES OF THIS TITLE WITHOUT GRANT OF SPECIAL PRIVILEGE. CRITERIA #2 •Unfortunate that it lands on this owner to correct actions of previous owner •Because there are unique physical characteristics of site and structure that do not allow home to be constructed in a similar manner as other homes in vicinity which allow for a greater basement deduction, not a grant of special privilege to approve this GRFA variance •Further, those building homes today are able to gain much more floor area by planning for lowest level basement deduction - not afforded to existing home, so variance simply levels playing field between older established homes with stepped foundations and those with extensive lowest level basement spaces 46 462 THE EFFECT OF THE REQUESTED VARIANCE ON LIGHT AND AIR, DISTRIBUTION OF POPULATION, TRANSPORTATION AND TRAFFIC FACILITIES, PUBLIC FACILITIES AND UTILITIES, AND PUBLIC SAFETY. CRITERIA #3 •Bulk and mass of existing structure remains exactly same as was approved with 2002 construction and 2011 remodel of home •These spaces exist within footprint of home, whether they are GRFA or back-filled to 5 ft head height •No impacts to distances between buildings, which would effect light and air •Distribution of population not effected by variance request, and no impacts to transportation facilities, public facilities and utilities •Variance request improves public safety and welfare - as these spaces will now be brought to current Building Code requirements and inspected by Town of Vail officials •As a result, proposed variance complies with this criterion 47 463 SUCH OTHER FACTORS AND CRITERIA AS THE COMMISSION DEEMS APPLICABLE TO THE PROPOSED VARIANCE. CRITERIA #4 •We are happy to address any additional comments of the Planning and Environmental Commission 48 464 NECESSARY FINDINGS 49 465 THAT THE GRANTING OF THE VARIANCE WILL NOT CONSTITUTE A GRANT OF SPECIAL PRIVILEGE INCONSISTENT WITH THE LIMITATIONS ON OTHER PROPERTIES CLASSIFIED IN THE SAME ZONE DISTRICT. NECESSARY FINDINGS #1 •Site is constrained by perennial steam and wetlands •Wetland report recommended stepped foundation with no site disturbance to occur within 5 ft of foundation •Construction method inevitably led to crawl spaces at lowest level of each step of foundation •These factors are unique to this site • Combine this with fact that existing structure was built just prior to 2004 GRFA amendments, which created deductions for basement areas on only lowest level 50 466 THAT THE GRANTING OF THE VARIANCE WILL NOT CONSTITUTE A GRANT OF SPECIAL PRIVILEGE INCONSISTENT WITH THE LIMITATIONS ON OTHER PROPERTIES CLASSIFIED IN THE SAME ZONE DISTRICT. NECESSARY FINDINGS #1 •If home been constructed after 2004 GRFA amendments, it may have been constructed in manner that would more successfully maximized basement deduction ➡However, that may not have been possible due to physical constraints of lot ➡Variance could have been requested so that home could take advantage of basement deductions like other homes in vicinity ➡Presence of perennial stream and wetlands could have been a viable justification for a variance 51 467 THAT THE GRANTING OF THE VARIANCE WILL NOT CONSTITUTE A GRANT OF SPECIAL PRIVILEGE INCONSISTENT WITH THE LIMITATIONS ON OTHER PROPERTIES CLASSIFIED IN THE SAME ZONE DISTRICT. NECESSARY FINDINGS #1 •Similarly, previous owner could have requested variance prior to conversion of crawl spaces using stream and wetlands, along with presence of existing structure, also an identified justification for a GRFA variance •Because there are unique physical characteristics of site and structure that do not allow home to be constructed in a similar manner as other homes in the vicinity which allow for a greater basement deduction, it is not a grant of special privilege to approve this GRFA variance 52 468 THAT THE GRANTING OF THE VARIANCE WILL NOT CONSTITUTE A GRANT OF SPECIAL PRIVILEGE INCONSISTENT WITH THE LIMITATIONS ON OTHER PROPERTIES CLASSIFIED IN THE SAME ZONE DISTRICT. NECESSARY FINDINGS #1 •Further, homes today are able to gain much more floor area by planning for lowest level basement deduction •This is not afforded to this existing home, so this variance levels playing field between older established homes with stepped foundations and those with extensive lowest level basement spaces 53 469 THAT THE GRANTING OF THE VARIANCE WILL NOT BE DETRIMENTAL TO THE PUBLIC HEALTH, SAFETY, OR WELFARE, OR MATERIALLY INJURIOUS TO PROPERTIES OR IMPROVEMENTS IN THE VICINITY. NECESSARY FINDINGS #2 •Based on Criteria 1 and 3 above, the granting of this variance would not be detrimental to the public health, safely or welfare. 54 470 THAT THE VARIANCE IS WARRANTED FOR ONE OR MORE OF THE FOLLOWING REASONS: 1.THE STRICT OR LITERAL INTERPRETATION AND ENFORCEMENT OF THE SPECIFIED REGULATION WOULD RESULT IN PRACTICAL DIFFICULTY OR UNNECESSARY PHYSICAL HARDSHIP INCONSISTENT WITH THE OBJECTIVES OF THIS TITLE. 2.THERE ARE EXCEPTIONAL OR EXTRAORDINARY CIRCUMSTANCES OR CONDITIONS APPLICABLE TO THE SITE OF THE VARIANCE THAT DO NOT APPLY GENERALLY TO OTHER PROPERTIES IN THE SAME ZONE DISTRICT. 3.THE STRICT OR LITERAL INTERPRETATION AND ENFORCEMENT OF THE SPECIFIED REGULATION WOULD DEPRIVE THE APPLICANT OF PRIVILEGES ENJOYED BY THE OWNERS OF OTHER PROPERTIES IN THE SAME ZONE DISTRICT. NECESSARY FINDINGS #3 •We understand that this is difficult request to make of Town: ➡We are looking to find reasonable solution for all parties involved ➡We believe that there is justification for a GRFA variance •Options for current owner to rectify the situation created by the previous owner are not great for anyone involved: 55 471 THAT THE VARIANCE IS WARRANTED FOR ONE OR MORE OF THE FOLLOWING REASONS: 1.THE STRICT OR LITERAL INTERPRETATION AND ENFORCEMENT OF THE SPECIFIED REGULATION WOULD RESULT IN PRACTICAL DIFFICULTY OR UNNECESSARY PHYSICAL HARDSHIP INCONSISTENT WITH THE OBJECTIVES OF THIS TITLE. 2.THERE ARE EXCEPTIONAL OR EXTRAORDINARY CIRCUMSTANCES OR CONDITIONS APPLICABLE TO THE SITE OF THE VARIANCE THAT DO NOT APPLY GENERALLY TO OTHER PROPERTIES IN THE SAME ZONE DISTRICT. 3.THE STRICT OR LITERAL INTERPRETATION AND ENFORCEMENT OF THE SPECIFIED REGULATION WOULD DEPRIVE THE APPLICANT OF PRIVILEGES ENJOYED BY THE OWNERS OF OTHER PROPERTIES IN THE SAME ZONE DISTRICT. NECESSARY FINDINGS #3 1.Bring in enough fill to re-create the original crawl space height of 5 ft. Challenges of completing this work are unnecessary burden on current homeowner, who was not responsible for illegal construction to begin with. Current purchased floor area will now disappear, affecting function of home. Not practical because of location of utilities and mechanical equipment at rear of this spaces that must remain accessible. 2.Remove GRFA in other locations of the home to accommodate the GRFA created by the crawl space conversion. Removal of other spaces would eliminate more useable rooms within home - bedrooms, living rooms, etc. This would be difficult and impractical as those spaces are legal, permitted, and finished spaces that serve familial functions within home. 56 472 THAT THE VARIANCE IS WARRANTED FOR ONE OR MORE OF THE FOLLOWING REASONS: 1.THE STRICT OR LITERAL INTERPRETATION AND ENFORCEMENT OF THE SPECIFIED REGULATION WOULD RESULT IN PRACTICAL DIFFICULTY OR UNNECESSARY PHYSICAL HARDSHIP INCONSISTENT WITH THE OBJECTIVES OF THIS TITLE. 2.THERE ARE EXCEPTIONAL OR EXTRAORDINARY CIRCUMSTANCES OR CONDITIONS APPLICABLE TO THE SITE OF THE VARIANCE THAT DO NOT APPLY GENERALLY TO OTHER PROPERTIES IN THE SAME ZONE DISTRICT. 3.THE STRICT OR LITERAL INTERPRETATION AND ENFORCEMENT OF THE SPECIFIED REGULATION WOULD DEPRIVE THE APPLICANT OF PRIVILEGES ENJOYED BY THE OWNERS OF OTHER PROPERTIES IN THE SAME ZONE DISTRICT. NECESSARY FINDINGS #3 3.Demolish and rebuild a home that could maximize GRFA and the basement deduction more in line with neighboring properties. While plausible, current owners purchased this home with intent of using home - not an expensive / challenging demo and new construction project. Additionally, site constraints on property do not go away withdemo/rebuild. Site is constrained by perennial stream and wetlands and when the duplex plat established property line between Lot 1A and Lot 1B, it generally follows stream and creates a compact buildable site area for Lot 1A. 57 473 THAT THE VARIANCE IS WARRANTED FOR ONE OR MORE OF THE FOLLOWING REASONS: 1.THE STRICT OR LITERAL INTERPRETATION AND ENFORCEMENT OF THE SPECIFIED REGULATION WOULD RESULT IN PRACTICAL DIFFICULTY OR UNNECESSARY PHYSICAL HARDSHIP INCONSISTENT WITH THE OBJECTIVES OF THIS TITLE. 2.THERE ARE EXCEPTIONAL OR EXTRAORDINARY CIRCUMSTANCES OR CONDITIONS APPLICABLE TO THE SITE OF THE VARIANCE THAT DO NOT APPLY GENERALLY TO OTHER PROPERTIES IN THE SAME ZONE DISTRICT. 3.THE STRICT OR LITERAL INTERPRETATION AND ENFORCEMENT OF THE SPECIFIED REGULATION WOULD DEPRIVE THE APPLICANT OF PRIVILEGES ENJOYED BY THE OWNERS OF OTHER PROPERTIES IN THE SAME ZONE DISTRICT. NECESSARY FINDINGS #3 •These all result in an unnecessary physical hardship to the current owner, who did not cause the situation, and the variance is therefore warranted. 58 474 THAT THE VARIANCE IS WARRANTED FOR ONE OR MORE OF THE FOLLOWING REASONS: 1.THE STRICT OR LITERAL INTERPRETATION AND ENFORCEMENT OF THE SPECIFIED REGULATION WOULD RESULT IN PRACTICAL DIFFICULTY OR UNNECESSARY PHYSICAL HARDSHIP INCONSISTENT WITH THE OBJECTIVES OF THIS TITLE. 2.THERE ARE EXCEPTIONAL OR EXTRAORDINARY CIRCUMSTANCES OR CONDITIONS APPLICABLE TO THE SITE OF THE VARIANCE THAT DO NOT APPLY GENERALLY TO OTHER PROPERTIES IN THE SAME ZONE DISTRICT. 3.THE STRICT OR LITERAL INTERPRETATION AND ENFORCEMENT OF THE SPECIFIED REGULATION WOULD DEPRIVE THE APPLICANT OF PRIVILEGES ENJOYED BY THE OWNERS OF OTHER PROPERTIES IN THE SAME ZONE DISTRICT. NECESSARY FINDINGS #3 •Site has extraordinary circumstances that do not apply to other properties to all properties within P/S zone district - perennial stream and associated wetlands •Created limited buildable area, along with more robust construction requirements such as stepped foundation with defined limits of disturbance of only 5 ft. from perimeter of foundation to protect wetland vegetation. •Same site constraints warranted approval of a separation request from the Design Review Board. These can be as challenging, if not more, as a variance. •In granting separation request, the DRB must make a determination that the lot has significant site constraints, as outlined in the following code section: 59 475 THAT THE VARIANCE IS WARRANTED FOR ONE OR MORE OF THE FOLLOWING REASONS: 1.THE STRICT OR LITERAL INTERPRETATION AND ENFORCEMENT OF THE SPECIFIED REGULATION WOULD RESULT IN PRACTICAL DIFFICULTY OR UNNECESSARY PHYSICAL HARDSHIP INCONSISTENT WITH THE OBJECTIVES OF THIS TITLE. 2.THERE ARE EXCEPTIONAL OR EXTRAORDINARY CIRCUMSTANCES OR CONDITIONS APPLICABLE TO THE SITE OF THE VARIANCE THAT DO NOT APPLY GENERALLY TO OTHER PROPERTIES IN THE SAME ZONE DISTRICT. 3.THE STRICT OR LITERAL INTERPRETATION AND ENFORCEMENT OF THE SPECIFIED REGULATION WOULD DEPRIVE THE APPLICANT OF PRIVILEGES ENJOYED BY THE OWNERS OF OTHER PROPERTIES IN THE SAME ZONE DISTRICT. NECESSARY FINDINGS #3 (B) The presence of significant site constraints may permit the physical separation of units and garages on a site. The determination of whether or not a lot has significant site constraints shall be made by the Design Review Board. SIGNIFICANT SITE CONSTRAINTS shall be defined as natural features of a lot such as stands of mature trees, natural drainages, stream courses and other natural water features, rock outcroppings, wetlands, other natural features and existing structures that may create practical difficulties in the site planning and development of a lot. Slope may be considered a physical site constraint that allows for the separation of a garage from a unit. It shall be the applicant’s responsibility to request a determination from the Design Review Board as to whether or not a site has significant site constraints before final design work on the project is presented. This determination shall be made at a conceptual review of the proposal based on review of the site, a detailed survey of the lot and a preliminary site plan of the proposed structure(s). 60 476 THAT THE VARIANCE IS WARRANTED FOR ONE OR MORE OF THE FOLLOWING REASONS: 1.THE STRICT OR LITERAL INTERPRETATION AND ENFORCEMENT OF THE SPECIFIED REGULATION WOULD RESULT IN PRACTICAL DIFFICULTY OR UNNECESSARY PHYSICAL HARDSHIP INCONSISTENT WITH THE OBJECTIVES OF THIS TITLE. 2.THERE ARE EXCEPTIONAL OR EXTRAORDINARY CIRCUMSTANCES OR CONDITIONS APPLICABLE TO THE SITE OF THE VARIANCE THAT DO NOT APPLY GENERALLY TO OTHER PROPERTIES IN THE SAME ZONE DISTRICT. 3.THE STRICT OR LITERAL INTERPRETATION AND ENFORCEMENT OF THE SPECIFIED REGULATION WOULD DEPRIVE THE APPLICANT OF PRIVILEGES ENJOYED BY THE OWNERS OF OTHER PROPERTIES IN THE SAME ZONE DISTRICT. NECESSARY FINDINGS #3 •It is because of all these factors that strict enforcement of GRFA regulations would deprive applicant of privileges enjoyed by owners of other properties in same zone district •Because existing structure was completed just prior to major overhaul of GRFA regulations, it was unable to take advantage of changes to basement deduction which more recently constructed homes are permitted to do. •This, combined with the physical site constraints, deprives applicant of privileges enjoyed by other P/S zoned properties. 61 477 March 10, 2025 Town Council ℅ Heather L. Knight, Planner 2 Town of Vail Community Development 75 South Frontage Road Vail Re: Continuance Request for Appeal of PEC Decision at 387 Beaver Dam Circle Dear Mayor and Town Council: Mauriello Planning Group, LLC (MPG) represents the owners of 387 Beaver Dam Circle with regard to the appeal of a PEC decision. The appeal was ﬁled on January 30, 2025. Subsequent to the ﬁling of the appeal, the Town Council held a joint worksession with the PEC at which there was discussion by the PEC and Town Council related to the deﬁnition of GRFA and speciﬁcally the basement deduction. In general, there appeared to be alignment between the Town Council and the PEC that the provisions related to basement deductions needed to be reexamined and potentially changed. Following the discussion between the PEC and the Town Council, MPG ﬁled an application for a text amendment related to the basement deduction on behalf of the owners of 387 Beaver Dam Circle. We believe that the outcome of the text amendment application could resolve the matter that is the subject of the PEC appeal. We are requesting that the Town Council continue the appeal hearing on March 18, 2025 to June 3, 2025 in order to allow the text amendment to work its way through the hearing process. Should the result of the text amendment resolve the matter being appealed, then the appeal can be withdrawn. We believe this with save everyone time and effort. Thank you in advance for your consideration. Sincerely,   Dominic Mauriello, AICP Founder, Mauriello Planning Group 478 AGENDA ITEM NO. 8.2 Item Cover Page DATE:March 18, 2025 TIME:5 min. SUBMITTED BY:Steph Johnson, Town Manager ITEM TYPE:Ordinance AGENDA SECTION:Public Hearings (8:05pm) SUBJECT:Ordinance No. 7, Series of 2025, An Emergency Ordinance Amending Title 7 of the Vail Town Code by the Addition of a New Chapter 13 to Establish Chain Law Enforcement Procedures (8:10pm) SUGGESTED ACTION:Approve, approve with amendments, or deny Emergency Ordinance No. 7, Series of 2025. PRESENTER(S):Commander Chris Botkins, Vail Police Department VAIL TOWN COUNCIL AGENDA ITEM REPORT ATTACHMENTS: Council Memo - Chain Ordinance Ordinance No. 7 - Emergency Chain Law Enforcement 479 March 6, 2025 To:Vail Town Council Through:Russ Forrest Town Manager Ryan Kenney Chief of Police From:Christopher Botkins Operations Commander Subject:Vail Municipal Commercial Vehicle Chain Ordinance The Vail Police Department is requesting the Town Council approve a municipal chain law ordinance that mirrors Colorado’s state chain law, with a specified fine of $1,500 for non- compliance, and $2,650 for non-compliance while blocking the roadway. Given the frequent and severe winter weather conditions in our region, implementing this measure is critical to ensuring public safety, reducing extended road closures, and addressing the ongoing issue of trucking companies' non-compliance. Commercial vehicles that fail to comply with chain requirements pose significant hazards to all motorists. Jackknifed or stranded trucks often create dangerous conditions, increasing the risk of accidents and limiting emergency response capabilities. A municipal ordinance would reinforce existing safety measures and encourage greater compliance Lengthy closures of Interstate 70, particularly at Vail Pass, result in significant economic disruptions, delaying the transport of goods and affecting local businesses. By enforcing a strict municipal chain law with substantial fines, we can deter violations and minimize unnecessary road shutdowns. Despite state regulations, many trucking companies continue to disregard chain requirements, contributing to preventable delays and safety risks. A municipal ordinance with a $2,800 fine would serve as a strong deterrent, ensuring that commercial drivers take the necessary precautions before entering hazardous conditions. 480 Town of Vail Page 2 By implementing an ordinance, Vail would strengthen its ability to manage winter roadway conditions effectively, enhance public safety, and reduce disruptions caused by non-compliant commercial vehicles. 481 3/11/2025 C:\USERS\EASYPD~1\APPDATA\LOCAL\TEMP\BCL TECHNOLOGIES\EASYPDF 8\@BCL@100CD10F\@BCL@100CD10F.DOCX ORDINANCE NO. 7 Series of 2025 AN EMERGENCY ORDINANCE AMENDING TITLE 7 OF THE VAIL TOWN CODE BY THE ADDITION OF A NEW CHAPTER 13 TO ESTABLISH CHAIN LAW ENFORCEMENT PROCEDURES NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF VAIL, COLORADO, THAT: Section 1.Title 7 of the Vail Town Code is hereby amended by the addition of a new Chapter 13, to read as follows: CHAPTER 13: CHAIN LAW 7-13-1: PURPOSE. The purpose of this Chapter is to increase public safety on public streets and highways within the Town. 7-13-2: DEFINITIONS. For purposes of this Chapter, the following terms shall have the following meanings: TIRE CHAINS: Metal chains consisting of two (2) circular metal loops, one (1) on each side of the tire, connected by no fewer than nine (9) evenly spaced chains across the tire tread. 7-13-3: CHAIN LAW. (A)Between September 1 and May 31 of each calendar year, all commercial vehicles must carry tire chains when operating in the Town. (B)When deemed necessary for public safety, the Vail Police Department is authorized to restrict any portion of a public street or highway within the Town by placing a chain law into effect. A chain law is in effect when signs or emergency notification systems, including without limitation temporary and electronic signs, notify the drivers of the chain law. I (C)When a chain law is in effect: (1)The driver of a commercial vehicle with four (4) or more drive wheels, other than a bus, shall affix tire chains to at least four (4) of the drive-wheel tires; and (2)The driver of a bus shall affix tire chains to at least two (2) of the drive-wheel tires. 7-13-4: VIOLATION; PENALTY. (A)Violation. It is unlawful to violate any provision of this Chapter. Each incident of violation shall be deemed a separate offense. 482 2 3/11/2025 C:\USERS\EASYPD~1\APPDATA\LOCAL\TEMP\BCL TECHNOLOGIES\EASYPDF 8\@BCL@100CD10F\@BCL@100CD10F.DOCX (B)Penalty. Violations of this Chapter shall be punished by a fine of one thousand five hundred dollars ($1,500) per violation, provided that, if the Vail Police Department officer determines that the vehicle is blocking any portion of the roadway so as to impede vehicular travel, the fine shall be two thousand six hundred fifty dollars ($2,650) per violation. In addition to the fine, Vail Police Department officers may take any or all of the following actions: (1)Officers may prohibit vehicles in violation of this Chapter from further travel; and (2) Officers may require towing of a vehicle in violation of this Chapter by a private towing company at the driver's expense. Section 2.If any part, section, subsection, sentence, clause or phrase of this ordinance is for any reason held to be invalid, such decision shall not effect the validity of the remaining portions of this ordinance; and the Town Council hereby declares it would have passed this ordinance, and each part, section, subsection, sentence, clause or phrase thereof, regardless of the fact that any one or more parts, sections, subsections, sentences, clauses or phrases be declared invalid. Section 3.The Town Council hereby finds, determines and declares that this ordinance is necessary and proper for the health, safety and welfare of the Town and the inhabitants thereof. Section 4.The amendment of any provision of the Vail Town Code as provided in this ordinance shall not affect any right which has accrued, any duty imposed, any violation that occurred prior to the effective date hereof, any prosecution commenced, nor any other action or proceeding as commenced under or by virtue of the provision amended. The amendment of any provision hereby shall not revive any provision or any ordinance previously repealed or superseded unless expressly stated herein. Section 5.All bylaws, orders, resolutions and ordinances, or parts thereof, inconsistent herewith are repealed to the extent only of such inconsistency. This repealer shall not be construed to revise any bylaw, order, resolution or ordinance, or part thereof, theretofore repealed. Section 6.Pursuant to Section 4.11 of the Vail Town Charter, the Town Council hereby finds and determines that this ordinance is necessary for the immediate preservation of public property, health, welfare, peace, or safety, to protect the safety of the traveling public on streets and highways within the Town during the winter season. As such, this ordinance shall take effect immediately upon adoption. 483 3 3/11/2025 C:\USERS\EASYPD~1\APPDATA\LOCAL\TEMP\BCL TECHNOLOGIES\EASYPDF 8\@BCL@100CD10F\@BCL@100CD10F.DOCX INTRODUCED, READ, APPROVED, AND ORDERED PUBLISHED ONCE IN FULL ON this ___ day of ______________, 2025. _____________________________ Travis Coggin, Mayor ATTEST: ____________________________ Stephanie Johnson, Acting Town Clerk 484 AGENDA ITEM NO. 8.3 Item Cover Page DATE:March 18, 2025 TIME:5 min. SUBMITTED BY:Steph Johnson, Community Development ITEM TYPE:Ordinance AGENDA SECTION:Public Hearings (8:05pm) SUBJECT:Ordinance No. 2, Series of 2025, Second Reading, An Ordinance Reestablishing Special Development District No. 43, Highline Doubletree (8:15pm) SUGGESTED ACTION:Approve, approve with amendments, or deny Ordinance No. 2, Series of 2025, upon second reading. PRESENTER(S):Greg Roy, Planning Manager VAIL TOWN COUNCIL AGENDA ITEM REPORT ATTACHMENTS: Council Memo - Highline Doubletree SDD Ordinance No. 2, Series of 2025, Second Reading Attachment A. Vicinity Map Attachment B. Applicant Narrative Attachment C. McDowell Parking Analysis Attachment D. Skyline Geoscience Geologic Study Attachment E. McDowell Transportation Impact Study Attachment F. Project Plan Set Attachment G. PEC Minutes 12-23-2024 Attachment H. PEC Minutes 1-13-2025 Attachment I. PEC24-0039 Staff Report 1-13-2025 Staff Presentation Applicant Presentation 485 TO: Vail Town Council FROM: Community Development Department DATE: March 18, 2025 SUBJECT: Second reading of Ordinance No. 2, Series of 2025 an ordinance reestablishing special development district No. 43, Highline Doubletree, pursuant to article A Special Development (SDD) District, Chapter 9, Title 12, zoning regulations located at 2211 North Frontage Road West/ Highline Subdivision Lot 1 and Lot 2 A resubdivision of Tract C, Lot 1, Lot 2, and Lot 3 Vail Das Schone Filing No. 1 and Lot 1, Vail Das Schone Filing 3. (PEC24-0039) Applicant: TNFREF III Bravo Vail LLC, represented by Mauriello Planning Group Planner: Greg Roy I. SUMMARY The applicant, TNFREF lll Bravo Vail LLC, represented by Mauriello Planning Group, is requesting approval to a major amendment to Special Development District No. 43, pursuant to Section 12-9(A), Special Development Districts, Vail Town Code, to allow for the development of a hotel addition, add conference space and an employee housing apartment building, and related uses and improvements, located at the property of 2211 N. Frontage Road West/ Highline Subdivision Lot 1 and Lot 2, A resubdivision of Tract C, Lot 1, Lot 2, and Lot 3 Vail Das Schone Filing No. 1 and Lot 1, Vail Das Schone Filing 3. The Planning and Environmental Commission held a public hearing on the proposed SDD amendment on January 13, 2025, where a recommendation for approval was forwarded to the Vail Town Council by a unanimous vote of 7-0. Town Council approved Ordinance No.2, Series of 2025 on first reading, with a vote of 7-0 at the March 4, 2025 meeting. Please find the staff memorandum to the PEC and the minutes from the January 13, 2025 meeting attached to this report. 486 Town of Vail Page 2 II. DESCRIPTION OF REQUEST The Vail Town Council shall approve, approve with m odifications, or deny Ordinance No. 2, Series of 2025, upon second reading. The applicant, TNFREF III Bravo Vail LLC represented by Mauriello Planning Group is requesting a recommendation to the Vail Town Council of an application to reestablish Special Development District No. 43 (Highline Double Tree), pursuant to Section 12 -9-A Special Development (SDD) District, Vail Town Code, to allow for the development of a hotel addition and EHU apartment building, and related uses and improvements, located at 2211 North Frontage Road West / Highline Subdivision Lot 1 and Lot 2 A resubdivision of Tract C, Lot 1, Lot 2, and Lot 3 Vail Das Schone Filing No. 1 and Lot 1, Vail Das Schone Filing 3. The request is to reestablish the SDD as approval for the District was not acted upon within the timeline required by code and expired. The proposal has remained largely the same since it was originally established, with a few updates to meet the new building and fire codes. The proposal would add a new wing to the hotel in the western corner of the site. The ground floor of this building would include parking and a conference space with three levels of hotel rooms above. In addition, a 15-unit employee housing building is proposed on the northern side of the property which has been subdivided into a separate lot that faces Chamonix Lane. To accommodate these additions, the following changes are proposed to the site: • The parking lot would be restriped to include valet parking • New landscaping would be added around the building • A sidewalk along Chamonix Lane and Road would be constructed • A loading zone parking space would be added in front of the EHU building on Chamonix Lane • The primary access points on the site would be the same as exists today Since the original approval of the SDD, the dormitory unit proposed to satisfy the 9.6 employee generation requirement has been constructed and deed restriction recorded (Deed Restriction record # 202407157 recorded on 7/1/2024 and the associated subordination agreement record #202407276 recorded on 7/2/2024). This leaves a credit of an additional 2.4 employees for any future expansions. This amendment affirms that the special development district remains in place and the development standards laid out are not subject to expiration. The development plan would be approved for an additional three years, and is subject to expiration. Attached for review are: Attachment A. Vicinity Map 487 Town of Vail Page 3 Attachment B. Narrative Attachment C. McDowell Parking Analysis Attachment D. Skyline Geoscience Geologic Study Attachment E. McDowell Transportation Impact Study Attachment F. Project plan set Attachment G. December 23, 2024, PEC minutes (Public Hearing) Attachment H. January 13, 2025, PEC Minutes (Public Hearing) Attachment I. January 13, 2025 PEC24-0039 Staff Report III. BACKGROUND In 1980, the hotel was built in the County and was annexed into the town per Ordinance No. 43, Series 1980 and zoned CC3 within the required ninety days. The Ordinance was later overturned by the Colorado Court of Appeals due to a lack of contiguity. It was then annexed again with Ordinance No. 1, Series 1986 and was again zoned CC3 with Ordinance No. 10, Series of 1986. Over time, there have been multiple applications for small remodels or exterior alterations. In 2016, there was an exterior alteration that allowed for restriping of the parking lot, pool upgrades, and exterior facade upgrades to the building. In 2019, the applicant submitted applications for a rezoning from Commercial Core 3 to Public Accommodation 2, a Special Development District application to create a new SDD, a minor subdivision to create the two lots, a conditional use permit for commerci al and a major exterior alteration application for the building additions and EHU building. SDD No. 43 was recommended for approval by the PEC on April 13, 2020 and was established by Ordinance No. 4, Series of 2020 in June of 2020. On that same day, Ordinance No. 3, Series of 2020 approved the zone district change as well. Per Town Code Section 12-9A-12 Time Requirements, SDD approval is only valid for three years, during which time, initial construction must be started and be diligently pursued. The original approval for SDD No. 43 was good through June of 2023. However, in March of 2021 during the COVID pandemic, the applicants submitted a Major SDD Amendment to phase the project and extend the approval timeline. The project was proposed to have a Phase 1 of the employee housing apartment building, and the hotel related improvements would be Phase 2. With this change, via Ordinance No. 16, Series of 2021, the approval was extended to September of 2024. During that period, the plat was recorded separating the parcel for the EHU building, and there were improvements to the property including a new elevator tower accompanying the stairs in the southeast portion of the lot and the offices on the second floor were converted to an employee dormitory. 488 Town of Vail Page 4 The PEC initially reviewed this application combined with the Major Exterior Alteration (MEA) at the December 23, 2024 PEC meeting. At the January 13, 2025 meeting the PEC approved the MEA, with conditions, and recommended approval of the SDD application. The MEA application is contingent upon the approval of the SDD reestablishment. lV. REVIEW CRITERIA Criteria: The following design criteria shall be used as the principal criteria in evaluation the merits of the proposed special development district. It shall be the burden of the applicant to demonstrate that the submittal material and the proposed development plan comply with each of the following standards or demonstrate that one or more of them is not applicable or that a practical solution consistent with the public interest has been achieved. See the attached Staff Report from the January 13, 2025 PEC meeting for analysis of the criteria. 1. Compatibility: Design compatibility and sensitivity to the immediate environment, neighborhood and adjacent properties relative to architectural design, scale, bulk, building height, buffer zones, identity, character, visual integrity and orientation. 2. Relationship: Uses, activity and density which provide a compatible, efficient and workable relationship with surrounding uses and activity. 3. Parking And Loading: Compliance with parking and loading requirements as outlined in chapter 10 of this title. 4. Comprehensive Plan: Conformity with applicable elements of the Vail comprehensive plan, town policies and urban design plans. 5. Natural And/Or geologic Hazard: Identification and mitigation of natural and/or geologic hazards that affect the property on which the special development district is proposed. 6. Design Features: Site plan, building design and location and open space provisions designed to produce a functional development responsive and sensitive to natural features, vegetation and overall aesthetic quality of the community. 7. Traffic: A circulation system designed for both vehicles and pedestrians addressing on and off site traffic circulation. 8. Landscaping: Functional and aesthetic landscaping and open space in order to optimize and preserve natural features, recreation, views and function. 489 Town of Vail Page 5 9. Workable Plan: Phasing plan or subdivision plan that will maintain a workable, functional and efficient relationship throughout the development of the special development district. V. PUBLIC BENEFIT Per Vail Town Code Section 12-9A-9: “Before the Town Council approves development standards that deviate from the underlying zone district, it should be determined that such deviation provides benefits to the town that outweigh the adverse effects of such deviation. This determination is to be made based on evaluation of the proposed Special Development District’s compliance with the design criteria outlined in § 12-9A- 8 of this article.” Deviations Requested 1. Reduction in the parking requirements for the site. 2. Parking in the front setback. 3. Increase in the amount of parking controlled by valet. 4. Loading and Delivery space sizes 5. Exception from the requirement that landscaped areas with trees cannot be used for snow storage. 6. Reduction in the amount of snow storage required. 7. Relief from the minimum size of landscaping areas 8. Reduction in the amount of landscaping required. 9. Relief from the required maximum allowed driveway slope. 10. Relief from the side and rear setback for the recycling and dumpster enclosure. 11. Relief from the restriction that no structure shall be built on a slope that exceeds forty percent (40%) or greater except in a low density residential, West Vail Multi- Family and Community Housing Zone Districts as outlined in section 12-21-10. 12. Building Height Benefits: 1. $32,500 for Public Art 2. A six-foot easement for pedestrian access along the far eastern boundary of the lot. 3. A sidewalk along Chamonix Lane and Chamonix Road. 4. Four units of the EHU building not placed in a mitigation bank and the interim period of the remaining units before they are applied to a development application. Vl. RECOMMENDED MOTION 490 Town of Vail Page 6 Should the Vail Town Council choose to approve Ordinance No. 2, Series of 2025, upon second reading, the Planning and Environmental Commission recommends the Council pass the following motion: “The Vail Town Council approves, on second reading, Ordinance No. 2, Series of 2025 an ordinance approving a major amendment to special development district No. 43, Highline Doubletree, pursuant to article A Special Development (SDD) District, Chapter 9, Title 12, zoning regulations located at 2211 North Frontage Road West.” Should the Vail Town Council choose to approve Ordinance No. 2, Series of 2025, the Planning and Environmental Commission recommends the Council makes the following findings: “Based upon the review of the criteria outline in Section Vlll of the Staff memorandum to the Planning and Environmental Commission dated January 13, 2025, and the evidence and testimony presented, the Vail Town Council finds: 1. That the SDD does comply with the standards listed in subsection (A) of this section, unless the applicant can demonstrate that one or more of the standards is not applicable, or that a practical solution consistent with the public interest has been achieved; 2. That the SDD is consistent with the adopted goals, objectives and policies outlined in the Vail Comprehensive Plan and compatible with the development objectives of the town; 3. That the SDD is compatible with and suitable to adjacent uses and appropriate for the surrounding areas; and 4. That the SDD does promote the health, safety, morals and general welfare of the town and promotes the coordinated and harmonious development of the town in a manner that conserves and enhances its natural environment and its established character as a resort and residential community of the highest quality. Vll. ATTACHMENTS Attachment A. Vicinity Map Attachment B. Narrative Attachment C. McDowell Parking Analysis Attachment D. Skyline Geoscience Geologic Study Attachment E. McDowell Transportation Impact Study Attachment F. Project plan set Attachment G. December 23, 2024, PEC minutes (Public Hearing) 491 Town of Vail Page 7 Attachment H. January 13, 2025, PEC Minutes (Public Hearing) Attachment I. January 13, 2025 PEC24-0039 Staff Report 492 1 3/5/2025 ORDINANCE NO. 2 SERIES OF 2025 AN ORDINANCE REESTABLISHING SPECIAL DEVELOPMENT DISTRICT NO. 43, HIGHLINE DOUBLE TREE WHEREAS, Ordinance No. 4, Series of 2020, established the approved development plan for Special Development District No. 43, Highline Double Tree ("SDD 43"); WHEREAS, Ordinance No. 16, Series of 2021, amended the approved development plan for SDD 43; WHEREAS, pursuant to § 12-9A-12(B) of the Vail Town Code ("Code"), because work on SDD 43 was not commenced within 3 years of its approval, the approval became void; WHEREAS, on September 5, 2025, TNREF lll Bravo Vail LLC ("Applicant") filed an application to reestablish SDD 43, as permitted by Code § 12-9A12(B) (the "Application"); WHEREAS, on January 13, 2025, the Planning and Environmental Commission (the "PEC") held a properly-noticed public hearing on the Application, and recommended that the Town Council approve the Application; and WHEREAS, on March 4, 2025, the Town Council held a properly-noticed public hearing on the Application. NOW, THEREFORE BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF VAIL, COLORADO THAT: Section 1. The Town Council, upon reviewing the Application and the PEC recommendation, hearing the statements of Town staff and the public, and giving due consideration to the matter, finds and determines as follows: a. The Application complies with all applicable criteria set forth in the Vail Town Code; and b. The Town Council hereby approves the reestablishment of SDD 43. Section 2. The Approved Development Plan for SDD 43 shall include the standards set forth in Exhibit A, attached hereto and incorporated herein by this reference. Section 3. If any part, section, subsection, sentence, clause or phrase of this ordinance is for any reason held to be invalid, such decision shall not effect the validity of the remaining portions of this ordinance; and the Town Council hereby declares it would have passed this ordinance, and each part, section, subsection, sentence, clause or 493 2 3/5/2025 phrase thereof, regardless of the fact that any one or more parts, sections, subsections, sentences, clauses or phrases be declared invalid. Section 4. The Town Council hereby finds, determines and declares that this ordinance is necessary and proper for the health, safety and welfare of the Town and the inhabitants thereof. Section 5. The amendment of any provision of the Vail Town Code as provided in this ordinance shall not affect any right which has accrued, any duty imposed, any violation that occurred prior to the effective date hereof, any prosecution commenced, nor any other action or proceeding as commenced under or by virtue of the provision amended. The amendment of any provision hereby shall not revive any provision or any ordinance previously repealed or superseded unless expressly stated herein. Section 6. All bylaws, orders, resolutions and ordinances, or parts thereof, inconsistent herewith are repealed to the extent only of such inconsistency. This repealer shall not be construed to revise any bylaw, order, resolution or ordinance, or part thereof, theretofore repealed. INTRODUCED, READ ON FIRST READING, APPROVED, AND ORDERED PUBLISHED ONCE IN FULL ON FIRST READING this 4th day of March, 2025 and a public hearing for second reading of this Ordinance set for the 18th day of March, 2025, in the Council Chambers of the Vail Municipal Building, Vail, Colorado. _____________________________ Travis Coggin, Mayor ATTEST: ____________________________ Stephanie Kaufmann, Town Clerk READ AND APPROVED ON SECOND READING AND ORDERED PUBLISHED this 18th day of March, 2025. _____________________________ Travis Coggin, Mayor ATTEST: ____________________________ Stephanie Kauffman, Town Clerk 494 3 3/5/2025 Exhibit A Special Development District No. 43 Approved Development Plan Standards Permitted Uses The permitted uses shall be those in the underlying Public Accommodation 2 zone district, pursuant to § 12-7J-2 of the Vail Town Code ("Code"). Conditional Uses The conditional uses shall be set forth in Code § 12-7J-3. All conditional uses shall be reviewed per the procedures as outlined in Code § 12-16. On July 26, 2021, a conditional use permit (PEC 21-0019) was approved to allow commercial floor area between 10% and 15% of the residential floor area allowed onsite. Density - Accommodation Units, and Limited Service Lodging Units The number of units shall not exceed the following: Accommodation Units – 176 Limited Service Lodging Units - 19 Density – Floor Area The gross residential floor area (GRFA), common area and commercial square footage permitted are in the Approved Development Plan (PEC24-0039). GRFA – 77,805 square feet (proposed)/80,000 square feet (allowed) Retail/Restaurant/Lounge – 8,475 square feet (proposed)/11,670 square feet (allowed) Conference Facilities – 7,666 square feet (gross) Setbacks Required setbacks are in the Approved Development Plan (PEC24-0039). Front – 20 feet Sides – 20 feet, provided that the side setback for the EHU dumpster enclosure shall be 12 feet and the north side setback for the hotel/restaurant dumpster shall remain as existing. Rear – 20 feet Height The maximum building heights are in the Approved Development Plan (PEC24-0039). New Buildings: 45 feet for flat roofs and 48 feet for sloped roofs. Existing Hotel Building: 53 feet 495 4 3/5/2025 Site Coverage – The maximum site coverage is in the Approved Development Plan (PEC24-0039). Site Coverage Maximum: 40% Site Coverage as proposed: 36% Landscaping The minimum landscape area requirement is in the Approved Development Plan (PEC24- 0039). Landscaping Minimum: 30%, which includes areas that do not meet the minimum size to qualify as landscaping. Parking and Loading The required number of off-street parking spaces and loading/delivery berths is in the Approved Development Plan (PEC24-0039). 174 parking spaces required, 208 parking spaces provided Commercial Linkage The addition to the hotel will generate a requirement of 9.6 employees. The dormitory unit accommodates 12 employees leaving a credit of 2.4 employees on the property (Deed Restriction Reception No. 202407157 recorded on 7/1/2024 and the associated subordination agreement Reception No. 202407276 recorded on 7/2/2024). The employee housing apartment building located on Lot 2 may utilize a mitigation bank per Code § 12-23-7. As part of the public benefit, two 3-bedroom units and two 1-bedroom units will be left out of the mitigation bank for a maximum of 11 units that may be included in the mitigation bank. Expiration SDD 43 includes certain development standards that are not subject to expiration. These development standards are associated with the existing hotel (Highline Double Tree) that were generated by the rezoning to PA-2. The Phase 1 Plans of the Approved Development Plan establish the development standards that do not expire are noted in the applicant narrative as part of PEC24-0039. Only the Phase 2 Plans of the Approved Development Plan are subject to the 3-year expiration period set forth in Code § 12-9A-12. The Phase 1 approved deviations include the following: 1. Existing Hotel height of 53 feet. 2. Reduced internal parking lot landscape standards 3. Landscape areas not meeting the minimum dimensional requirements 496 5 3/5/2025 4. Parking in the front setback 5. No enclosed parking 6. Slope of driveway 7. Trash enclosure location in setback 8. Adjusted parking calculations, per the following: 497 498 499 500 501 502 503 504 505 506 507 508 509 510 511 512 513 514 515 516 517 518 519 520 521 522 523 524 525 526 527 528 529 530 531 532 1 Town of Vail Attn: Tom Kassmel 75 S. Frontage Road Vail, CO 81657 January 6, 2020 Re: Doubletree Hotel Expansion - Parking Analysis Vail, Colorado Purpose: This memorandum was developed to give a recommendation for the redevelopment of the Doubletree Hotel. The recommendation is based upon the following two methodologies: Institute of Transportation Engineers (ITE) parking demand data Local parking rates at current facilities Proposed Expansion: Existing Conditions: The existing Doubletree Hotel currently has ninety-seven (97) hotel rooms and nineteen (19) condominium units. The hotel has 2,000sf of meeting space. Proposed Conditions: The redevelopment at the Doubletree Hotel will bring the facility to a total of the following: 176 hotel rooms 19 hotel suites (hotel rooms with kitchens) 16 deed restricted employee dwelling units (2-3 bedrooms per unit) 12 deed restricted employee housing units in a dormitory configuration 6,000sf of meeting space National Parking Rate: Parking Generation Manual1 states that the average peak period parking demand for a suburban hotel (Land Use #310) is 0.74 spaces per room. The statistic is given based upon the 95th Percent Confidence Interval for a nationwide study of 22 hotel sites. The 95th Percent Confidence Interval indicates that there is a 95% likelihood that the parking demand will fall within 0.65 to 0.83 parking spaces per room. The statistical analysis on this data set is considered good with a low coefficient of variation of 30%. Additionally, the average peak period parking demand for a suburban hotel (Land Use #310) is 0.83 spaces per occupied room. The statistic is given based upon the 95th Percent Confidence Interval for a nationwide study of 27 hotel sites. The 95th Percent Confidence Interval indicates that there is a 95% likelihood that the parking demand will fall within 0.74 to 0.92 parking spaces per occupied room. The statistical analysis on this data set is considered good with a low coefficient of variation of 28%. 1 Parking Generation Manual, 5th Edition, Institute of Transportation Engineers, 2019 533 2 These rates were taken in a general urban/suburban setting throughout the United States. These hotel facilities do not necessarily have the same access to transit, employee workforce, and restricted workplace parking that the Doubletree Hotel will likely experience. Observed Actual Parking Rate: As stated in the Parking Generation Manual significantly by land use code. The Parking Generation Manual should be considered only the beginning point of information to be used in estimating parking demand. Local conditions and area type can influence parking demand. The wide array of data in the manual blends many site conditions and may not best reflect a particular local condition. Therefore, a survey of a site in a comparable local condition should always be considered as one Therefore, local data provides a more accurate representation of parking for the site. The hotel has collected the following datasets: Two days of counts taken 5 times per day Nightly count data taken for eleven (11) months Two Days of Counts: Ten (10) counts were taken from Friday, December 20, 2019 to Saturday, December 21, 2019 at the following times, as shown in Table 1 below. Table 1: Doubletree Hotel Hourly Count Data Time # of Vehicles Friday 12/20/19 # of Vehicles Saturday 12/21/19 Fri Occupancy Rate (61 Occupied Rooms) Saturday Occupancy Rate (74 Occupied Rooms) Fri Occupancy Rate (97 Total Rooms) Saturday Occupancy Rate (97 Total Rooms) 5:00 AM 42 57 0.69 0.77 0.43 0.59 9:00 AM 27 48 0.44 0.65 0.28 0.49 12:00 PM 23 27 0.38 0.36 0.24 0.28 5:00 PM 37 48 0.61 0.65 0.38 0.49 9:00 PM 45 59 0.74 0.80 0.46 0.61 Averages 35 48 0.57 0.65 0.36 0.49 From inspection of the above data, the peaks occur during the 5:00 AM and 9:00 PM count times, thus showing that the peak parking is during the nighttime. The data shows that the overall average was 0.65 parked vehicles per occupied room. The overall average was 0.49 parked vehicles per room for the Saturday time, which is the highest rate for both the occupied room and room rates. Figure 1 shows the data in Table 1 graphically. 534 3 Figure 1: Doubletree Hotel Hourly Count Data Nightly Count Data: The hotel has collected nightly data over the last 11 months (January-November 2019) to show how many rooms were occupied and the related number of cars onsite. The counts were taken at night to capture the peak parking time. Copies of this data is provided as an attachment. Table 2 summarizes the data and shows the average rate, low and high range of rates, the low and high 95% confidence interval2 rates for both the Parking Generation Manual and the nightly count data, based upon a parking rate per room. Scenarios shown include a weekday and Saturday, and time defined as the months of March and July which represent the highest number of vehicles and occupancy per month. Figure 2 shows the data from Table 2 in a graphic format. There are not any 95% confidence intervals calculated for the Parking Generation Manual s Saturday category, as this data set had only one study performed. Table 3 and Figure 3 similarly summarize and display the data based upon a parking rate per occupied room. There are not any 95% confidence intervals calculated for the Parking Generation Manual s Saturday category, as this data set had eight (8) studies performed. 2 The 95% confidence interval is defined from the Parking Generation Manual as follows: Confidence Interval a measure of confidence in the statistical data to the average. It indicates the range within which there is 95 percent likelihood the average will fall. This range is shown when data for 20 or 69 % , 4 2 44 % , 2 7 38 % , 2 3 61 % , 3 7 74 % , 4 5 77 % , 5 7 65 % , 4 8 36 % , 2 7 65 % , 4 8 80 % , 5 9 0 10 20 30 40 50 60 70 5:00 AM 9:00 AM 12:00 PM 5:00 PM 9:00 PM # o f V e h i c l e s Friday (% of 61 Occupied Rooms, # of Vehicles)Saturday (% of 74 Occupied Rooms, # of Vehicles) 535 4 Table 2: Parking Rates by Rooms Scenario Range of Rates (Low) 95% Conf. Interval (Low) Avg. Rate 95% Conf. Interval (High) Range of Rates (High) Hotel (310) - Rooms - Weekday 0.43 0.65 0.74 0.83 1.47 Hotel (310) - Rooms - Saturday 1.15 - 1.15 - 1.15 Doubletree Hotel - Rooms - Weekday (Annual) 0.09 0.34 0.36 0.38 0.73 Doubletree Hotel - Rooms - Saturday (Annual) 0.18 0.41 0.46 0.50 0.86 Doubletree Hotel - Rooms - Weekday (Peak (Mar & Jul)) 0.32 0.47 0.50 0.54 0.73 Doubletree Hotel - Rooms - Saturday (Peak (Mar & Jul)) 0.36 0.51 0.58 0.65 0.72 Figure 2: Parking Rates by Rooms 0. 4 3 1. 1 5 0. 0 9 0. 1 8 0. 3 2 0. 3 6 0. 6 5 0. 3 4 0. 4 1 0. 4 7 0. 5 1 0. 7 4 1. 1 5 0. 3 6 0. 4 6 0. 5 0 0. 5 8 0. 8 3 0. 3 8 0. 5 0 0. 5 4 0. 6 5 1. 4 7 1. 1 5 0. 7 3 0. 8 6 0. 7 3 0. 7 2 0.00 0.20 0.40 0.60 0.80 1.00 1.20 1.40 1.60 1.80 2.00 Hotel (310) - Rooms - Weekday Hotel (310) - Rooms - Saturday Doubletree Hotel - Rooms - Weekday (Annual) Doubletree Hotel - Rooms - Saturday (Annual) Doubletree Hotel - Rooms - Weekday (Peak (Mar & Jul)) Doubletree Hotel - Rooms - Saturday (Peak (Mar & Jul)) Range of Rates (Low)95% Conf. Interval (Low)Average Rate 95% Conf. Interval (High)Range of Rates (High) 536 5 Table 3: Parking Rates by Occupied Rooms Scenario Range of Rates (Low) 95% Conf. Interval (Low) Avg. Rate 95% Conf. Interval (High) Range of Rates (High) Hotel (310) - Occupied Rooms - Weekday 0.43 0.74 0.83 0.92 1.58 Hotel (310) - Occupied Rooms - Saturday 0.72 - 1.18 - 1.58 Doubletree Hotel - Occupied Rooms - Weekday (Annual) 0.28 0.64 0.65 0.68 1.81 Doubletree Hotel - Occupied Rooms - Saturday (Annual) 0.30 0.61 0.65 0.69 0.90 Doubletree Hotel - Occupied Rooms - Weekday (Peak (Mar & Jul)) 0.51 0.66 0.70 0.73 1.27 Doubletree Hotel - Occupied Rooms - Saturday (Peak (Mar & Jul)) 0.54 0.62 0.68 0.74 0.85 Figure 3: Parking Rates by Occupied Rooms Note: Values shown in Red Bold type represent anomalies in the dataset, where there was a low room occupancy and standard parking. These may have been due to a daily conference where the parking lot was utilized but there were not the corresponding occupied rooms for overnight stays. In all these cases, the overall room occupancy rate is low. See Table 4 for a summary of the top 5 highest observed rates. 0. 4 3 0. 7 2 0. 2 8 0. 3 0 0. 5 1 0. 5 4 0. 7 4 0. 6 4 0. 6 1 0. 6 6 0. 6 2 0. 8 3 1. 1 8 0. 6 5 0. 6 5 0. 7 0 0. 6 8 0. 9 2 0. 6 8 0. 6 9 0. 7 3 0. 7 4 1. 5 8 1. 5 8 1. 8 1 0. 9 0 1. 2 7 0. 8 5 0.00 0.20 0.40 0.60 0.80 1.00 1.20 1.40 1.60 1.80 2.00 Hotel (310) - Occupied Rooms - Weekday Hotel (310) - Occupied Rooms - Saturday Doubletree Hotel - Occupied Rooms - Weekday (Annual) Doubletree Hotel - Occupied Rooms - Saturday (Annual) Doubletree Hotel - Occupied Rooms - Weekday (Peak (Mar & Jul)) Doubletree Hotel - Occupied Rooms - Saturday (Peak (Mar & Jul)) Range of Rates (Low)95% Conf. Interval (Low)Average Rate 95% Conf. Interval (High)Range of Rates (High) 537 6 Table 4: Top 5 Highest Parking Rate per Occupied Rooms Date Day Parked Vehicles Occupied Rooms Room Occupancy (out of 119 rooms) Parking Rate per Occupied Rooms Parking Rate per Rooms 11/21/2019 Thu 38 21 18% 1.81 0.32 2/5/2019 Tue 80 58 49% 1.38 0.67 3/25/2019 Mon 47 37 31% 1.27 0.39 2/11/2019 Mon 49 41 34% 1.20 0.41 2/17/2019 Sun 87 77 65% 1.13 0.73 The Doubletree Hotel is located where it has s located within walking and bus proximity to recreation and amenities including restaurants, retail and grocery stores. Observed Parking Rate per Room: Per the nightly count data, the observed parking rate was 0.36 vehicles per room during the weekday and 0.46 vehicles per room on Saturday, based on the annual data. The observed parking rate for the two highest peak months of March and July was 0.50 and 0.58 for the weekday and Saturday respectively. The two days of counts dataset had averages of 0.36 and 0.49 for the weekday and Saturday respectively. Observed Parking Rate per Occupied Room: Per the nightly count data, the observed parking rate was 0.65 vehicles per occupied room during the weekday and 0.65 vehicles per occupied room on Saturday, based on the annual data. The observed parking rate for the two highest peak months of March and July was 0.70 and 0.68 for the weekday and Saturday respectively. The two days of counts dataset had averages of 0.57 and 0.65 for the weekday and Saturday respectively. Proposed Parking Rate: The parking rate for this facility is best determined by using local parking data. The Doubletree Hotel Development is proposing to provide 215 parking spaces for 223 hotel rooms, suites, and affordable housing apartments. This equates to a parking rate of 0.96 per unit. This rate of 0.96 per unit, whether it would be classified as parking rate per room or parking rate per occupied room is greater than the 95% confidence interval for all values, including that of the peak months. Therefore, with proper parking management, it is anticipated that a parking rate of 0.96 spaces per room will be adequate for the proposed Doubletree Hotel development. Please call if you would like any additional information or have any questions regarding this matter. Sincerely, McDowell Engineering, LLC Kari J. McDowell Schroeder, PE, PTOE Traffic Engineer Enc. 538 203Land Use Descriptions and Data Plots 539 204 Parking Generation Manual, 5th Edition 540 205Land Use Descriptions and Data Plots 541 206 Parking Generation Manual, 5th Edition 542 Date Sum of ParkedVehicles Sum of OccupiedRooms Jan 1179 2029 1-Jan 74 114 2-Jan 68 108 3-Jan 71 110 4-Jan 44 108 5-Jan 27 91 6-Jan 15 43 7-Jan 12 26 8-Jan 13 39 9-Jan 22 37 10-Jan 39 49 11-Jan 43 59 12-Jan 52 58 13-Jan 17 27 14-Jan 14 25 15-Jan 17 23 16-Jan 26 44 17-Jan 37 78 18-Jan 79 113 19-Jan 102 115 20-Jan 15 94 21-Jan 18 47 22-Jan 22 35 23-Jan 32 43 24-Jan 45 73 25-Jan 61 111 26-Jan 63 113 27-Jan 30 49 28-Jan 20 31 29-Jan 16 25 30-Jan 32 56 31-Jan 53 85 Page 1 of 11 543 Date Sum of ParkedVehicles Sum of OccupiedRooms Feb 1497 1919 1-Feb 79 90 2-Feb 58 3-Feb 61 72 4-Feb 42 64 5-Feb 80 58 6-Feb 47 101 7-Feb 70 104 8-Feb 73 107 9-Feb 81 10-Feb 11-Feb 49 41 12-Feb 31 67 13-Feb 40 91 14-Feb 63 114 15-Feb 80 116 16-Feb 87 116 17-Feb 87 77 18-Feb 46 74 19-Feb 46 88 20-Feb 59 21-Feb 25 89 22-Feb 80 100 23-Feb 45 77 24-Feb 41 79 25-Feb 26-Feb 53 94 27-Feb 74 100 28-Feb Page 2 of 11 544 Date Sum of ParkedVehicles Sum of OccupiedRooms Mar 1806 2695 1-Mar 82 113 2-Mar 86 116 3-Mar 83 112 4-Mar 42 64 5-Mar 55 85 6-Mar 48 72 7-Mar 59 87 8-Mar 87 116 9-Mar 66 104 10-Mar 52 94 11-Mar 49 96 12-Mar 49 77 13-Mar 50 94 14-Mar 38 71 15-Mar 67 95 16-Mar 75 88 17-Mar 54 85 18-Mar 51 74 19-Mar 43 59 20-Mar 40 61 21-Mar 53 74 22-Mar 74 112 23-Mar 83 116 24-Mar 51 85 25-Mar 47 37 26-Mar 54 91 27-Mar 62 98 28-Mar 57 99 29-Mar 63 97 30-Mar 43 79 31-Mar 43 44 Page 3 of 11 545 Date Sum of ParkedVehicles Sum of OccupiedRooms Apr 786 1223 1-Apr 21 27 2-Apr 24 38 3-Apr 29 58 4-Apr 21 57 5-Apr 38 68 6-Apr 47 68 7-Apr 23 34 8-Apr 26 39 9-Apr 22 33 10-Apr 31 40 11-Apr 23 27 12-Apr 30 41 13-Apr 28 44 14-Apr 28 38 15-Apr 20 42 16-Apr 26 50 17-Apr 26 45 18-Apr 26 40 19-Apr 32 40 20-Apr 34 56 21-Apr 8 23 22-Apr 27 37 23-Apr 26 30 24-Apr 25 33 25-Apr 22 30 26-Apr 28 44 27-Apr 22 39 28-Apr 21 32 29-Apr 26 35 30-Apr 26 35 Page 4 of 11 546 Date Sum of ParkedVehicles Sum of OccupiedRooms May 779 1171 1-May 27 35 2-May 20 26 3-May 48 53 4-May 31 46 5-May 4 17 6-May 14 24 7-May 22 31 8-May 21 37 9-May 22 40 10-May 19 20 11-May 45 83 12-May 12 20 13-May 22 34 14-May 36 38 15-May 36 39 16-May 15 19 17-May 18 21 18-May 22 31 19-May 15 22 20-May 42 56 21-May 37 57 22-May 27 41 23-May 16 40 24-May 18 39 25-May 31 59 26-May 25 41 27-May 12 26 28-May 20 32 29-May 21 42 30-May 40 51 31-May 41 51 Page 5 of 11 547 Date Sum of ParkedVehicles Sum of OccupiedRooms Jun 1230 1826 1-Jun 29 53 2-Jun 18 25 3-Jun 33 46 4-Jun 43 56 5-Jun 37 63 6-Jun 44 82 7-Jun 52 92 8-Jun 59 103 9-Jun 26 51 10-Jun 29 59 11-Jun 35 50 12-Jun 31 41 13-Jun 31 48 14-Jun 53 66 15-Jun 57 65 16-Jun 23 39 17-Jun 37 57 18-Jun 56 76 19-Jun 41 48 20-Jun 35 55 21-Jun 45 60 22-Jun 65 77 23-Jun 29 48 24-Jun 32 62 25-Jun 41 53 26-Jun 40 66 27-Jun 44 57 28-Jun 56 79 29-Jun 69 100 30-Jun 40 49 Page 6 of 11 548 Date Sum of ParkedVehicles Sum of OccupiedRooms Jul 1923 2740 1-Jul 38 65 2-Jul 53 69 3-Jul 50 80 4-Jul 82 112 5-Jul 80 114 6-Jul 64 96 7-Jul 46 71 8-Jul 43 62 9-Jul 62 86 10-Jul 65 87 11-Jul 64 86 12-Jul 66 86 13-Jul 69 91 14-Jul 56 92 15-Jul 59 78 16-Jul 62 100 17-Jul 86 110 18-Jul 83 105 19-Jul 69 101 20-Jul 57 106 21-Jul 46 62 22-Jul 54 70 23-Jul 57 78 24-Jul 59 98 25-Jul 86 107 26-Jul 86 116 27-Jul 76 116 28-Jul 57 77 29-Jul 44 70 30-Jul 53 69 31-Jul 51 80 Page 7 of 11 549 Date Sum of ParkedVehicles Sum of OccupiedRooms Aug 1627 2733 1-Aug 56 87 2-Aug 65 93 3-Aug 66 106 4-Aug 56 87 5-Aug 53 95 6-Aug 67 113 7-Aug 64 104 8-Aug 67 102 9-Aug 74 108 10-Aug 63 111 11-Aug 34 100 12-Aug 38 111 13-Aug 51 104 14-Aug 50 94 15-Aug 63 97 16-Aug 64 97 17-Aug 58 103 18-Aug 40 72 19-Aug 42 86 20-Aug 45 83 21-Aug 49 73 22-Aug 49 75 23-Aug 43 60 24-Aug 46 78 25-Aug 36 53 26-Aug 32 56 27-Aug 41 65 28-Aug 41 64 29-Aug 35 57 30-Aug 61 83 31-Aug 78 116 Page 8 of 11 550 Date Sum of ParkedVehicles Sum of OccupiedRooms Sep 1358 2204 1-Sep 68 110 2-Sep 30 64 3-Sep 27 46 4-Sep 41 45 5-Sep 52 69 6-Sep 58 73 7-Sep 67 86 8-Sep 48 64 9-Sep 38 63 10-Sep 48 63 11-Sep 37 71 12-Sep 35 50 13-Sep 62 85 14-Sep 61 85 15-Sep 23 53 16-Sep 31 44 17-Sep 35 54 18-Sep 43 75 19-Sep 48 80 20-Sep 70 116 21-Sep 71 116 22-Sep 28 59 23-Sep 40 78 24-Sep 45 78 25-Sep 49 91 26-Sep 43 83 27-Sep 67 104 28-Sep 48 113 29-Sep 21 41 30-Sep 24 45 Page 9 of 11 551 Date Sum of ParkedVehicles Sum of OccupiedRooms Oct 1097 1766 1-Oct 44 55 2-Oct 45 58 3-Oct 42 60 4-Oct 83 112 5-Oct 75 113 6-Oct 21 36 7-Oct 30 62 8-Oct 42 60 9-Oct 32 49 10-Oct 28 49 11-Oct 29 56 12-Oct 40 69 13-Oct 28 45 14-Oct 33 52 15-Oct 31 53 16-Oct 36 61 17-Oct 28 47 18-Oct 47 68 19-Oct 35 67 20-Oct 33 56 21-Oct 27 42 22-Oct 32 42 23-Oct 23 40 24-Oct 35 44 25-Oct 46 64 26-Oct 28 60 27-Oct 14 25 28-Oct 25 54 29-Oct 36 67 30-Oct 22 58 31-Oct 27 42 Page 10 of 11 552 Date Sum of ParkedVehicles Sum of OccupiedRooms Nov 1025 1492 1-Nov 18 58 2-Nov 29 69 3-Nov 14 23 4-Nov 24 40 5-Nov 29 44 6-Nov 23 39 7-Nov 25 47 8-Nov 58 73 9-Nov 50 76 10-Nov 10 25 11-Nov 11 27 12-Nov 28 36 13-Nov 20 37 14-Nov 27 36 15-Nov 41 51 16-Nov 40 47 17-Nov 16 26 18-Nov 21 38 19-Nov 32 43 20-Nov 33 43 21-Nov 38 21 22-Nov 38 47 23-Nov 60 70 24-Nov 40 48 25-Nov 45 67 26-Nov 38 62 27-Nov 40 74 28-Nov 62 81 29-Nov 83 99 30-Nov 32 45 Page 11 of 11 553 19102 DOUBLETREE VAIL EXPANSION GEOLOGIC STUDY | PAGE 1 OF 15 SKYLINE GEOSCIENCE GEOLOGICAL CONSULTING November 4, 2019 Mark Mutkoski TNREF III Bravo Vail, LLC C/O True North Management Group, LLC 10 Bank Street 12 Floor White Plains, NY 10606 Geologic Study Doubletree Vail Expansion Vail, Colorado Project No: 19102 Dear Mr. Mutkoski: Skyline Geoscience, LLC (Skyline) is pleased to submit this geologic study for the Doubletree Vail hotel (Doubletree) located at 2211 North Frontage Road West in the Town of Vail, Eagle County, Colorado. Based on site plan drawings by Alpine Engineering (undated, received November 4, 2019), proposed site improvements include expanding the existing hotel in the north and northwest parts of the site (currently a ground-level parking lot and grass-covered lawn). This expansion includes, but is not limited to, adding a new conference building and parking garage with additional hotel levels above and addition of a separate apartment building along Chamonix Lane at the rear-north of the property. The proposed apartment building will be four-stories high and will be notched into the slope along the northern property boundary. 554 SKYLINE GEOSCIENCE GEOLOGICAL CONSULTING 19102 DOUBLETREE VAIL EXPANSION GEOLOGIC STUDY | PAGE 2 OF 15 Table of Contents 1.0 SCOPE OF WORK ................................................................................................................................................ 3 2.0 SITE DESCRIPTION .............................................................................................................................................. 3 3.0 PROPOSED DEVELOPMENT ................................................................................................................................. 5 4.0 GEOLOGIC SETTING ............................................................................................................................................ 5 4.1 REGIONAL GEOLOGY ............................................................................................................................................. 5 4.2 GEOLOGY ............................................................................................................................................................... 6 5.0 GEOLOGIC CONSIDERATIONS ............................................................................................................................. 6 5.1 DEBRIS FLOW ......................................................................................................................................................... 6 5.2 ROCKFALL ............................................................................................................................................................ 11 6.0 CONCLUSIONS .................................................................................................................................................. 12 7.0 LIMITATIONS .................................................................................................................................................... 13 8.0 REFERENCES AND DOCUMENTS REVIEWED ...................................................................................................... 14 Figures Figure 1 ....................................................................................................................................... Vicinity Map Figure 2 ....................................................................................................................................... Site Location Figure 3 ............................................................................................................................... Proposed Site Plan Figure 4 ......................................................................................................................................Geologic Map Figure 5 .............................................................................. Town of Vail Debris Flow and Rockfall Hazard Zone Map Figure 6 ..................................................................... Existing Debris Flow Mitigation Features in Project Site Vicinity 555 SKYLINE GEOSCIENCE GEOLOGICAL CONSULTING 19102 DOUBLETREE VAIL EXPANSION GEOLOGIC STUDY | PAGE 3 OF 15 1.0 SCOPE OF WORK The objective of this geologic study is to characterize the geologic conditions for the Doubletree property using existing, available data. According to the Town of Vail geologically sensitive area maps, rockfall and debris flow hazard zones extend onto the Doubletree property. A medium severity rockfall hazard zone is mapped in the northwest corner and a moderate debris flow hazard zone extends onto the property in the northeast corner. For this study, geologic hazards of focus were limited to debris flow and rockfall hazards. Other geologic hazards are not included in the scope of this study and may require consideration during future site-specific studies. Based on the documents available and our understanding of the project, the scope of work for the geologic study included: 1. Review available literature for the subject site and surrounding area. Available literature included published reports and maps, aerial photographs, topographic maps, and other resources. 2. Review applicable local and state government regulations, policies, and guidelines related to geologic studies. 3. Site reconnaissance for observations of existing conditions. 4. Identify geologic conditions that potentially impact the proposed development using existing, available data. 5. Preparation of this report signed by a Colorado Professional Geologist summarizing findings, conclusions, and recommendations. 2.0 SITE DESCRIPTION The site is located at 2211 North Frontage Road West in the Town of Vail, Eagle County, Colorado. The site is generally rectangular in shape, about 4.2 acres in size, and currently developed with a hotel, swimming pool, and parking lot (Figures 1 and 2). The site is surrounded by developed land (commercial, residential, roadways) and is bordered by the Interstate-70 Frontage Road to the south and Chamonix Lane to the north. The site is in the southeast quarter of Section 11, Township 5 South, Range 81 West, with a latitude and -vicinity generally slopes gently down toward Gore Creek located about 400 feet to the southeast, at closest approach. Incised drainages on the undeveloped slopes above the project area drain southeastward toward Gore Creek. The site topography is generally flat to gently sloping down to the south-southeast, as the existing Doubletree hotel and a surface parking lot occupy the majority of the site (Photograph 1). The parking lot areas slope down to the south-southeast with a slope of about 7.5 degrees. The site topography 556 SKYLINE GEOSCIENCE GEOLOGICAL CONSULTING 19102 DOUBLETREE VAIL EXPANSION GEOLOGIC STUDY | PAGE 4 OF 15 along the north, east and west property boundaries consist of steeper slopes. The northern property boundary rises about 14 to 16 feet in elevation to meet Chamonix Lane to the north, with a slope of about 30 degrees (Photograph 2). The northwest part of the site has a slope of about 12.5 degrees. The eastern property edge, within the 20-foot property boundary easement also slopes down toward the hotel parking lot. Elevation ranges from about 7936 feet along the southern boundary to about 7972 feet along the northern property boundary, an elevation change of about 36 feet across the property. Photograph 1. View looking south across the eastern part of the property, currently a ground-level parking lot. Photograph 2. View looking westward across the northern boundary of the property, with the northern part of the existing Doubletree hotel visible. Chamonix Lane is off to the right of the photo. 557 SKYLINE GEOSCIENCE GEOLOGICAL CONSULTING 19102 DOUBLETREE VAIL EXPANSION GEOLOGIC STUDY | PAGE 5 OF 15 3.0 PROPOSED DEVELOPMENT Skyline understands that proposed development plans include expansion of the existing Doubletree hotel and addition of a separate, four-story apartment building along the northern boundary of the property. Expansion of the hotel is to include parking garage, conference room, and hotel levels and will extend into the northwestern part of the site currently developed as a ground-level parking lot and an open, grass-covered lawn (Photograph 3). Based on the proposed site plan, the apartment building will be notched into the steep slope on the north side of the site. Refer to the proposed site plan drawing included herein as Figure 3 (Alpine Engineering, undated). Photograph 3. View looking south across the western part of the property, currently a ground-level parking lot and grassy open space. This is the location of the proposed hotel expansion. 4.0 GEOLOGIC SETTING 4.1 REGIONAL GEOLOGY The Doubletree Vail hotel is in the Southern Rocky Mountain physiographic province in a montane to subalpine setting. The Gore fault system is the western structural boundary of the Gore Range and was active during the Laramide mountain building event about 70 to 50 million years ago. The Gore Range is comprised of crystalline rock and is separated from the Front Range Mountains to the east by the Blue River Valley and the Williams Range thrust fault zone. Southwest of the Gore fault system are thick sequences of sedimentary units such as the Minturn and Maroon Formations. Sedimentary units underlie the site and surrounding area and are comprised of shale, claystone, siltstone, sandstone, 558 SKYLINE GEOSCIENCE GEOLOGICAL CONSULTING 19102 DOUBLETREE VAIL EXPANSION GEOLOGIC STUDY | PAGE 6 OF 15 conglomerate, and marine limestone. Surficial deposits are also mapped in the region along Gore Creek Valley and associated tributaries, including artificial fill, alluvial, colluvial, debris flow/fan, landslide, and glacial deposits. 4.2 GEOLOGY Based on published geologic mapping (Scott and others, 2002; Kellogg and others, 2011), the site is underlain by artificial fill deposits overlying Minturn Formation bedrock (Figure 4). The artificial fill deposits are categorized as modified land surface deposits (latest Holocene; historically recent) by Scott and others (2002) and are described as predominantly compacted rock, sand and silt placed under and adjacent to highways, earthen dams, urban streets, buildings, and landscaped areas. In the western part of the Town of Vail, these deposits include a layer of grass sod and decorative boulders placed deliberately and moved from their original location. In the project area, modified land surface deposits typically overlie older surficial deposits such as glacial till, alluvium, fan-alluvium, debris flow deposits, and colluvium (Quaternary age). Bedrock at the site is obscured by surficial material. Bedrock underlying the site is Minturn Formation (Middle Pennsylvanian; about 310 to 300 million years before present), characterized as interbedded arkosic grit, sandstone, conglomerate, siltstone, shale, with some limestone and dolomite. The grit is comprised of coarse-grained sand to granule-sized particles, is poorly sorted and quartz-rich. The sandstone is similar to the grit except these layers are finer-grained. Conglomerate layers are common in the Minturn Formation and are comprised of granule- to cobble-sized clasts of granite, gneiss, pegmatite, quartzite, and carbonate rocks. The siltstone and shale layers exhibit dominant mica and sand components. The color of the clastic units in the Minturn Formation vary greatly on a local and regional basis. Carbonate rocks also occur in the Minturn Formation, including the widespread and relatively continuous White Quail Limestone as well as thinner, discontinuous limestone layers in the project area. Bedrock generally dips 25 to 35 degrees down toward the northwest (Scott and others, 2002). 5.0 GEOLOGIC CONSIDERATIONS 5.1 DEBRIS FLOW A moderate debris flow hazard zone is mapped by the Town of Vail in the northeast part of the site currently occupied by a ground-level parking lot. Photograph 4 shows a view of the drainage upslope from the Doubletree which is the source of the debris flow hazard as depicted on the Town of Vail 559 SKYLINE GEOSCIENCE GEOLOGICAL CONSULTING 19102 DOUBLETREE VAIL EXPANSION GEOLOGIC STUDY | PAGE 7 OF 15 geologically sensitive areas map (Figure 5). Published geologic mapping (Scott and others, 2002) shows younger fan alluvium and debris flow deposits at the mouth of this incised drainage, deposits which approximately extend up to Chamonix Lane immediately north of the site. Photograph 4. View looking northward across the ground- level parking lot that occupies the eastern part of the site. The incised drainage which poses the debris flow hazard is visible in the background, upslope from the site boundary. A large debris flow event occurred in May 1984, originating from the sidewalls of the channel upslope from the Doubletree property (Photograph 4). In a debris flow analysis report for the Tall Pines Subdivision located upslope of the Doubletree, Arthur I. Mears, P.E., Inc. (Mears; April 1992) opined that this debris flow event originated as a small debris avalanche at an elevation of about 8800 feet on the east-facing slope in the canyon and deposited material into the stream channel which was experiencing high flows due to heavy snowmelt runoff at the time. A debris flow resulted, transporting and depositing mud, water, rocks (up to 3-foot diameter) and debris on the alluvial fan surface. The debris flow deposited material against existing buildings and on slopes above and around structures. Mears presented recommendations for debris flow hazard mitigation concepts for the Tall Pines Subdivision (various dates between about 1991 to 1999, see References and Documents Reviewed section) located upslope from the Doubletree, including but not limited to: Reinforcement and special design of the lower building walls on all north and east sides of the proposed structures in the Tall Pines Subdivision, Lots 1 and 2. Design walls to withstand a uniform impact pressure of at least 500 psf and reach a height of at least 5 feet above final 560 SKYLINE GEOSCIENCE GEOLOGICAL CONSULTING 19102 DOUBLETREE VAIL EXPANSION GEOLOGIC STUDY | PAGE 8 OF 15 grade. Windows, doors and other elements such as deck supports within 5 feet of final grade must be avoided or reinforced to withstand the impact pressures. A protective boulder wall, at least 5 feet high, along north and east sides of the existing structure on Lot 4, Vail Das Schone Filing No. 1. Positive drainage away from and around structures. Boulder wall at the top of the slope above the access road, with boulders at least 5 feet in diameter, spaced no more than 1 foot apart, and designed to withstand debris flow impact pressures of at least 500 psf. Control and conveyance of surface water runoff (normal and 100-year flood event). Skyline performed a site visit in September 2019 for observations of the Doubletree property and the area upslope and to the north of the site. Observations were made (where possible) of the existing debris flow mitigation features constructed on the properties to the north on the upslope side of Chamonix Lane. Observed debris flow mitigation and drainage features included: 1. Riprap-lined drainage channel. Includes a culvert to channel water under the asphalt-paved driveway (Photographs 5 through 7). The riprap works to dissipate high flow energies and to limit erosion along this channel. 2. Boulders placed along the north and east sides of the residential structure on Lot 4, Vail Das Schone Filing No. 1 (Photograph 8). 3. A wall of boulders (15 in total), nominally 4 to 6 feet in diameter, spaced about 1 to 2 feet apart (Photograph 9). This wall is placed at the top of the slope above the asphalt driveway leading to the Tall Pines Subdivision, within the debris flow drainage channel. Other debris flow mitigation measures not listed here may have been constructed on these upslope properties but are not easily visible from the exterior of the structures, or without access to the interiors or review of building plans. 561 SKYLINE GEOSCIENCE GEOLOGICAL CONSULTING 19102 DOUBLETREE VAIL EXPANSION GEOLOGIC STUDY | PAGE 9 OF 15 Photograph 5. View looking north and upslope along the driveway that leads to the Tall Pines Subdivision. Photograph 6. View looking south and downslope along the driveway that leads to the Tall Pines Subdivision. The southern extension of the riprap-lined channel is shown here. The protective boulder wall for Lot 4, Das Schone Filing No. 1 is also visible on the right side of the photo. The Doubletree hotel is visible in the upper center of the photo, across Chamonix Lane. 562 SKYLINE GEOSCIENCE GEOLOGICAL CONSULTING 19102 DOUBLETREE VAIL EXPANSION GEOLOGIC STUDY | PAGE 10 OF 15 Photograph 7. View looking north and upslope at the riprap- lined channel above the Tall Pines Subdivision driveway. The boulder wall is visible at the top of the slope above the channel. A culvert is situated at the downslope extent of this channel, connecting the channel on the other side of the driveway. Photograph 8. Looking westward, view of protective boulder wall along the north and east sides of Lot 4, Vail Das Schone Filing No. 1. 563 SKYLINE GEOSCIENCE GEOLOGICAL CONSULTING 19102 DOUBLETREE VAIL EXPANSION GEOLOGIC STUDY | PAGE 11 OF 15 Photograph 9. Looking westward, view of the line of 4- to 6-foot diameter boulders acting as a debris flow barrier which prevents larger, destructive debris from flowing downslope. The boulder wall shown in Photograph 9 acts as a barrier system to stop large material from being transported downslope during destructive and damaging debris flow events. This barrier reduces the debris flow hazard at the Tall Pines Subdivision and on neighboring properties, including the Doubletree located directly downslope. Existing mitigation features observed are shown on Figure 6. 5.2 ROCKFALL A medium severity rockfall hazard zone extends into the northwest area of the Doubletree property, as shown on Figure 5. The ground surface on the Doubletree property and surrounding developed area has been significantly modified and evidence of previous historic rockfall events has been obscured. The properties upslope from the Doubletree are developed and there are two to three rows of residential structures between the Doubletree and potential upslope rockfall sources. Although rockfalls can skirt the edges and areas between existing buildings, the presence of these existing upslope structures reduces the likelihood of a rockfall potentially reaching the Doubletree. In a rockfall hazard analysis performed for the Tall Pines Subdivision (April 1992), Mears concluded that falling rocks would not reach that site. The analysis was based on a design rockfall diameter of 2 feet and a sandstone outcrop source zone located at about 850 feet northwest at an elevation about 350 feet above the Tall Pines Subdivision. Characterization of previous rockfalls in the area could not be 564 SKYLINE GEOSCIENCE GEOLOGICAL CONSULTING 19102 DOUBLETREE VAIL EXPANSION GEOLOGIC STUDY | PAGE 12 OF 15 determined by Mears due to significant modification of the ground surface. Although the rockfall hazard study by Mears is specific to the Tall Pines Subdivision, the results of the analysis indicate that rockfalls will not reach this upslope site. Due to the number of existing structures upslope from the Doubletree, and the results of the rockfall hazard study completed by Mears for the Tall Pines Subdivision upslope from the Doubletree, the rockfall hazard is considered low for the site. As such, a site-specific rockfall hazard analysis was not included in the scope for this study. 6.0 CONCLUSIONS 1. GEOLOGY: The geologic units underlying the site include artificial fill overlying Minturn Formation bedrock. Based on geologic mapping and experience with subsurface conditions in the area, the fill likely overlies older surficial deposits of glacial till, alluvium, fan-alluvium, debris flow deposits, and colluvium. Minturn Formation bedrock at the site is obscured by surficial material and is described as interbedded arkosic grit, sandstone, conglomerate, siltstone, shale, with some limestone and dolomite. Subsurface conditions, including but not limited to, the depth to groundwater and the depth, lithology, thickness, and geotechnical properties of the underlying materials, should be verified during site-specific geotechnical explorations. 2. DEBRIS FLOWS: A moderate debris flow hazard zone is mapped in the northeast part of the site currently occupied by a ground-level parking lot. The proposed construction in this area includes an apartment building along the northern property boundary and within the moderate debris flow hazard zone. The boulder wall installed upslope from the Doubletree property in the Tall Pines Subdivision reduces the debris flow hazard for the northeast part of the property but does not eliminate it. If site development of the Doubletree property is to include residential structures, hotel units, or other structures within the moderate debris flow hazard zone, a site-specific debris flow hazard analysis should be completed to determine performance specifications to support mitigation design. A site-specific debris flow hazard analysis will determine, among other things, the estimated thickness, impact pressure, velocity, and volume of potential debris flows impacting the site. Design of debris flow mitigation should be performed by a licensed professional engineer. Mitigation options to reduce the debris flow hazard in the northeast part of the site are dependent on the design specifications determined by the project engineer and may include, but are not limited to: a. Reinforcement of the lower building walls on the north side (and other sides if required) to withstand the design impact pressure and estimated debris flow height determined with a 565 SKYLINE GEOSCIENCE GEOLOGICAL CONSULTING 19102 DOUBLETREE VAIL EXPANSION GEOLOGIC STUDY | PAGE 13 OF 15 site-specific debris flow hazard analysis. Other structural elements such as doors, windows, decks, stairways, etc. within the lower limits of the building should be avoided or also designed to withstand the estimated debris flow impact pressure. b. Positive drainage to divert water and muddy debris away from and around structures. Ground surface should be flat to gently sloping away from foundation walls on the north side of structures, with adequate access space for equipment to clean out debris if necessary and to avoid deep accumulations of material in the event of a debris flow. c. Contain and convey surface water runoff associated with normal and flood event surface flows. d. A barrier placed along the northern property boundary within the moderate debris flow hazard zone and extending beyond the zone on each side to the east and west (extent to be determined by project engineer during design). The barrier should be designed to withstand the estimated debris flow impact pressures and be constructed to stop large debris from moving downslope while allowing water and mud to flow through the barrier system. e. The mitigation should not increase the debris flow hazard to surrounding properties or structures. 3. ROCKFALL: A medium severity rockfall hazard zone is mapped by the Town of Vail in the northwest area of the site currently occupied by a surface parking lot. The ground surface on the Doubletree property and surrounding developed area have been significantly modified and evidence of previous historic rockfall events has been obscured. Due to the number of existing structures upslope from the Doubletree, and the results of a rockfall hazard study by Mears for the upslope Tall Pines Subdivision, the rockfall hazard is considered low for the site. No site-specific rockfall hazard analysis was included in the scope for this study. 7.0 LIMITATIONS The purpose of this report is to provide an assessment of geologic conditions as related to the proposed expansion of the Doubletree Hotel property at 2211 North Frontage Road West in the Town of Vail, Colorado. The professional judgments expressed in this report meet the standard of care for our profession. This geologic study is based on review of available literature and published geologic and topographic maps, a general understanding of geologic conditions and processes in the project area, and experience with similar conditions. Variations in geologic conditions can and do occur, and there is a potential for variations in the geologic site conditions presented in this report. These variations, if present, may be enough to necessitate modifications to this report. If unexpected, adverse, or differing 566 SKYLINE GEOSCIENCE GEOLOGICAL CONSULTING 19102 DOUBLETREE VAIL EXPANSION GEOLOGIC STUDY | PAGE 14 OF 15 conditions are encountered during construction, Skyline should be notified for additional review and potential modification to the conclusions and recommendations herein. It is beyond the scope of this study to provide specific design criteria related to foundations, structural fill or site grading. The foundations for the proposed structures, as well as any geologic hazard mitigation, should be designed by a licensed professional engineer. Reasonable effort was made to obtain available relevant information through the Town of Vail online property document portal. Skyline is not responsible for obtaining every and all documents potentially relevant to the geologic hazards at the Doubletree or surrounding sites. The documents reviewed on the Town of Vail property document portal may not include every document, report, plan, or drawing relevant to geologic hazard studies or constructed mitigation on the Tall Pines Subdivision property upslope from the site or on other sites. Skyline should be notified if additional documentation is discovered or becomes available which may assist in characterizing the existing geology, geologic hazards and related mitigation potentially impacting the Doubletree property. 8.0 REFERENCES and DOCUMENTS REVIEWED Quadrangle, Eagle, Summit, and Grand Counties, Colorado: U.S. Geological Survey, Scientific Investigations Map 3170, scale 1:100,000. Mears, A.I., December 19, 1991, letter re: 2239 Chamonix Lane, Vail. Debris flow and rockfall study: prepared for Richard Rosen. Mears, A.I., April 1992, Debris Flow and Rockfall Analysis and Mitigation Concepts, Schmetzko Property, Vail, Colorado: prepared for Richard P. Rosen. Mears, A.I., July 10, 1992, letter re: site plan review for the Schmetzko debris flow defense: prepared for Mike Foster, Victor Mark Donaldson Architects, P.C. Mears, A.I., December 3, 1996, letter re: review of site plan and grading plan for proposed Dual Pines Subdivision in Vail: prepared for Greg Amsden, ADF Real Estate. Mears, A.I., June 19, 1998, Debris Flow and Rockfall Hazard Analysis and Mitigation Concepts, Tall Pines Subdivision: prepared for Greg Amsden and Rick Rosen. Mears, A.I., June 29, 1998, letter re: clarification of certain points in Mears report dated June 19, 1998: prepared for Greg Amsden, Amsden, Davis & Fowler. Mears, A.I., April 11, 1999, letter re: Tall Pines proposed decks and debris flow hazard change: prepared for Kirk Davis, Amsden, Davis & Fowler. Mears, A.I., April 26, 1999, letter re: review of grading plans, building plans and maps for the proposed Tall Pines Subdivision: prepared for Greg Amsden, Amsden, Davis & Fowler. Scott, R.B., Lidke, D.J., and Grunwald, D.J., 2002, Geologic Map of the Vail West Quadrangle, Eagle County, Colorado: U.S. Geological Survey, Miscellaneous Field Studies Map MF-2369, scale 1:24,000. 567 SKYLINE GEOSCIENCE GEOLOGICAL CONSULTING 19102 DOUBLETREE VAIL EXPANSION GEOLOGIC STUDY | PAGE 15 OF 15 Thank you for the opportunity to provide this geologic study for the Doubletree Vail hotel property at 2211 North Frontage Road West in the Town of Vail, Colorado. Please contact Skyline if you have any questions or comments regarding the information provided in this report. Sincerely, SKYLINE GEOSCIENCE Golden, Colorado www.skylinegeoscience.com Report Prepared By: Julia M. Frazier, P.G. | Owner 568 569 570 571 572 573 574 575 576 577 578 579 580 581 582 583 Figure 3 - 2012 Frontage Road traffic counts 584 Figure 4: Initial year background traffic (2020) (PCE vehicles per hour) 585 Figure 5: Design year background traffic (2040) (PCE vehicles per hour) 586 587 588 589 590 591 592 Figure 6: Initial AM Project Traffic Distribution 593 Figure 7: Initial PM Project Traffic Distribution 594 Figure 8: Initial Saturday Project Traffic Distribution 595 Figure 9: Long Term AM Project Traffic Distribution 596 Figure 10: Long Term PM Project Traffic Distribution 597 Figure 11: Long Term Saturday Project Traffic Distribution 598 599 600 601 602 Figure 12: Initial Project Traffic (PCE vechilces per hour) 603 Figure 13: Long Term Project Traffic (PCE vechilces per hour) 604 605 Figure 14: Initial Year Total Traffic (2020) (PCE vehicles per hour) 606 Figure 15: Design Year Total Traffic (2040) (PCE vehicles per hour) 607 608 609 610 611 612 613 614 615 616 617 618 619 620 621 www.idaxdata.com TMC1 to to Two-Hour Count Summaries Note: Two-hour count summary volumes include heavy vehicles but exclude bicycles in overall count. Total 0 0 0 2 0 0 2 2 6 4 WB 4.7% 0.78 NB - - Peak Hour: 7:45 AM 8:45 AM HV %: PHF EB 2.6% 0.90 Date: Thu, Oct 31, 2019 Peak Hour Count Period: 7:00 AM 9:00 AM SB 0.0% 0.74 TOTAL 3.2% 0.86 TH RTUTLT TH RT UT LT Rolling One HourEastbound Westbound Northbound Southbound UT LT TH RT Interval Start N FRONTAGE RD W N FRONTAGE RD W 0 FIRST BANK ENTRANCE 15-min TotalUTLT TH RT 0 0 32 2 0 0 0 0 2 61 0 7:15 AM 0 5 45 0 0 0 0 0 0 07:00 AM 0 5 33 0 0 0 21 1 0 3 111 0 7:45 AM 0 12 65 0 3 0 0 0 0 0 91 0 7:30 AM 0 8 57 0 0 0 39 0 0 0 2 0 5 170 433 8:00 AM 0 11 73 0 0 0 52 0 0 0 3 0 150 0 73 2 0 0 0 0 63 2 0 0 6 0 7 153 525 8:15 AM 1 7 67 0 4 0 0 0 0 0 3 0 6 112 588 8:45 AM 0 11 63 0 1 0 0 0 0 0 153 587 8:30 AM 0 5 61 0 0 0 36 0 0 0 2 0 11 154 5720 0 0 8 0 120 0 55 5 0 0 25 0 61 1,005 0 Interval Start Heavy Vehicle Totals Bicycles Pedestrians (Crossing Leg) EB WB NB SB Total 1 35 266 19 0 0 0 0 0 39 588 0Peak Hour 0 0 0 0 14 00 0 Count Total 1 0 0 7:15 AM 2 0 0 0 2 0 0 0 0 0 0 0 0 West North South 7:00 AM 4 2 0 0 6 0 EB WB NB SB Total East 7:45 AM 2 3 0 0 5 0 0 0 0 0 0 0 7:30 AM 2 2 0 0 4 0 0 0 0 0 0 0 0 0 0 0 8:15 AM 0 5 0 0 5 0 0 0 0 0 0 0 0 0 2 0 8:00 AM 4 2 0 0 6 0 0 0 0 0 0 0 8:45 AM 0 4 0 0 4 0 0 0 0 2 0 0 8:30 AM 2 1 0 0 3 0 0 0 0 0 0 0 0 0 0 2 00 0 0 0 0 0 6 0 Peak Hr 8 11 0 0 19 0 0 0 0 0 0 0 0Count Total 16 19 0 0 35 0 00 0 0 0 0 4 0 224 9 0 64 464 0 0 0 371 0 04 0 N FIRST BANK ENTRANCE N FRONTAGE RD W N FRONTAGE RD W N FRONTAGE RD W 588TEV: 0.86PHF: 9 224 233 280 0 266 35302 264 1 Mark Skaggs: (425) 250-0777 mark.skaggs@idaxdata.com 622 www.idaxdata.com TMC1 to to Two-Hour Count Summaries Note: Two-hour count summary volumes include heavy vehicles but exclude bicycles in overall count. Total 0 2 0 0 0 2 0 1 5 2 WB 0.9% 0.89 NB - - Peak Hour: 4:30 PM 5:30 PM HV %: PHF EB 1.0% 0.85 Date: Thu, Oct 31, 2019 Peak Hour Count Period: 4:00 PM 6:00 PM SB 2.2% 0.68 TOTAL 1.0% 0.91 TH RTUTLT TH RT UT LT Rolling One HourEastbound Westbound Northbound Southbound UT LT TH RT Interval Start N FRONTAGE RD W N FRONTAGE RD W 0 FIRST BANK ENTRANCE 15-min TotalUTLT TH RT 0 0 118 2 0 0 4 0 2 179 0 4:15 PM 0 1 84 0 4 0 0 0 0 04:00 PM 0 2 70 0 0 0 97 5 0 12 249 0 4:45 PM 0 1 63 0 10 0 0 0 0 0 212 0 4:30 PM 0 10 69 0 0 0 143 0 0 0 2 0 5 199 839 5:00 PM 0 4 75 0 0 0 124 0 0 0 1 0 60 0 121 7 0 0 0 0 130 6 0 0 2 0 8 214 874 5:15 PM 0 1 92 0 1 0 0 0 0 0 2 0 2 201 855 5:45 PM 0 3 72 0 2 0 0 0 0 0 241 903 5:30 PM 0 2 91 0 0 0 102 0 0 0 2 0 10 183 8390 0 0 2 0 30 0 103 0 0 0 20 0 48 1,678 0 Interval Start Heavy Vehicle Totals Bicycles Pedestrians (Crossing Leg) EB WB NB SB Total 0 16 299 32 0 0 0 0 0 36 903 0Peak Hour 0 0 0 0 10 00 0 Count Total 0 0 0 4:15 PM 0 2 0 0 2 0 0 0 0 0 0 0 0 West North South 4:00 PM 0 3 0 0 3 0 EB WB NB SB Total East 4:45 PM 0 1 0 0 1 0 0 0 0 0 0 0 4:30 PM 1 2 0 1 4 0 0 0 0 0 0 0 0 2 0 0 5:15 PM 1 1 0 0 2 0 0 0 0 0 0 0 0 0 0 0 5:00 PM 1 1 0 0 2 0 0 0 0 0 0 0 5:45 PM 1 3 0 0 4 0 0 0 0 0 0 0 5:30 PM 0 0 0 0 0 0 0 0 0 0 0 0 0 2 0 1 00 0 0 0 0 0 5 0 Peak Hr 3 5 0 1 9 0 0 0 0 0 0 0 0Count Total 4 13 0 1 18 0 00 0 0 0 0 2 0 518 24 0 24 616 0 0 0 938 0 02 0 N FIRST BANK ENTRANCE N FRONTAGE RD W N FRONTAGE RD W N FRONTAGE RD W 903TEV: 0.91PHF: 24 518 542 309 0 299 16315 554 0 Mark Skaggs: (425) 250-0777 mark.skaggs@idaxdata.com 623 www.idaxdata.com TMC1 to to Two-Hour Count Summaries Note: Two-hour count summary volumes include heavy vehicles but exclude bicycles in overall count. Total 1 4 2 0 3 0 2 2 14 7 WB 0.8% 0.83 NB - - Peak Hour: 4:30 PM 5:30 PM HV %: PHF EB 0.0% 0.89 Date: Sat, Nov 02, 2019 Peak Hour Count Period: 4:30 PM 6:30 PM SB 0.0% 0.60 TOTAL 0.5% 0.87 TH RTUTLT TH RT UT LT Rolling One HourEastbound Westbound Northbound Southbound UT LT TH RT Interval Start N FRONTAGE RD W N FRONTAGE RD W 0 FIRST BANK ENTRANCE 15-min TotalUTLT TH RT 0 0 76 2 0 0 1 0 4 149 0 4:45 PM 0 2 55 0 2 0 0 0 0 04:30 PM 0 5 56 0 0 0 81 1 0 2 183 0 5:15 PM 0 6 65 0 2 0 0 0 0 0 141 0 5:00 PM 0 6 68 0 0 0 104 0 0 0 1 0 5 167 640 5:30 PM 0 3 59 0 0 0 70 0 0 0 0 0 100 0 84 2 0 0 0 0 82 0 0 0 3 0 7 146 637 5:45 PM 0 1 54 0 4 0 0 0 0 0 1 0 4 130 584 6:15 PM 0 0 49 0 3 0 0 0 0 0 141 637 6:00 PM 0 1 47 0 0 0 74 0 0 0 0 0 4 109 5260 0 0 0 0 40 0 55 1 0 0 7 0 40 1,166 0 Interval Start Heavy Vehicle Totals Bicycles Pedestrians (Crossing Leg) EB WB NB SB Total 0 19 244 16 0 0 0 0 0 21 640 0Peak Hour 0 0 0 0 3 00 0 Count Total 0 1 0 4:45 PM 0 0 0 0 0 0 0 0 0 0 0 0 0 West North South 4:30 PM 0 1 0 0 1 0 EB WB NB SB Total East 5:15 PM 0 1 0 0 1 0 0 0 0 2 0 0 5:00 PM 0 1 0 0 1 0 0 0 0 0 0 0 0 4 3 0 5:45 PM 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 5:30 PM 0 0 0 0 0 0 0 0 0 0 0 0 6:15 PM 0 2 0 0 2 0 0 0 0 2 0 0 6:00 PM 2 1 0 0 3 0 0 0 0 0 0 0 0 0 0 2 00 0 0 0 0 0 14 0 Peak Hr 0 3 0 0 3 0 0 0 0 0 0 0 0Count Total 2 7 0 0 9 0 00 0 0 0 0 7 0 345 8 0 24 453 0 0 0 626 0 07 0 N FIRST BANK ENTRANCE N FRONTAGE RD W N FRONTAGE RD W N FRONTAGE RD W 640TEV: 0.87PHF: 8 345 353 247 0 244 19263 366 0 Mark Skaggs: (425) 250-0777 mark.skaggs@idaxdata.com 624 www.idaxdata.com TMC2 to to Two-Hour Count Summaries Note: Two-hour count summary volumes include heavy vehicles but exclude bicycles in overall count. Total 0 0 0 1 1 0 3 1 6 2 WB 6.4% 0.81 NB - - Peak Hour: 7:30 AM 8:30 AM HV %: PHF EB 2.9% 0.88 Date: Thu, Oct 31, 2019 Peak Hour Count Period: 7:00 AM 9:00 AM SB 21.4% 0.88 TOTAL 5.0% 0.90 TH RTUTLT TH RT UT LT Rolling One HourEastbound Westbound Northbound Southbound UT LT TH RT Interval Start N FRONTAGE RD W N FRONTAGE RD W 0 DOUBLE TREE ENTRANCE 15-min TotalUTLT TH RT 0 0 32 2 0 0 1 0 1 53 0 7:15 AM 0 3 44 0 0 0 0 0 0 07:00 AM 0 1 30 0 0 0 20 2 0 1 106 0 7:45 AM 0 4 65 0 3 0 0 0 0 0 84 0 7:30 AM 0 0 60 0 0 0 40 0 0 0 1 0 2 150 393 8:00 AM 0 0 78 0 0 0 55 0 0 0 3 0 10 0 75 2 0 0 0 0 62 7 0 0 2 0 1 143 483 8:15 AM 0 1 67 0 7 0 0 0 0 0 1 0 1 101 535 8:45 AM 0 0 72 0 0 0 0 0 0 0 141 540 8:30 AM 0 5 59 0 0 0 35 0 0 0 1 0 3 134 5190 0 0 0 0 20 0 59 1 0 0 11 0 12 912 0 Interval Start Heavy Vehicle Totals Bicycles Pedestrians (Crossing Leg) EB WB NB SB Total 0 5 270 22 0 0 0 0 0 6 540 0Peak Hour 0 0 0 0 8 00 0 Count Total 0 0 0 7:15 AM 2 0 0 1 3 0 0 0 0 0 0 0 0 West North South 7:00 AM 4 2 0 0 6 0 EB WB NB SB Total East 7:45 AM 2 3 0 0 5 0 0 0 0 0 0 0 7:30 AM 2 4 0 1 7 0 0 0 0 0 0 0 0 0 1 0 8:15 AM 0 7 0 1 8 0 0 0 0 0 0 0 0 0 1 0 8:00 AM 4 2 0 1 7 0 0 0 0 0 0 0 8:45 AM 0 4 0 0 4 0 0 0 0 3 0 0 8:30 AM 2 1 0 0 3 0 0 0 0 0 0 0 0 0 0 1 00 0 0 0 0 0 6 0 Peak Hr 8 16 0 3 27 0 0 0 0 0 0 0 0Count Total 16 23 0 4 43 0 00 0 0 0 0 2 0 232 19 0 14 475 0 0 0 378 0 02 0 N DOUBLE TREE ENTRANCE N FRONTAGE RD W N FRONTAGE RD W N FRONTAGE RD W 540TEV: 0.90PHF: 19 232 251 278 0 270 5275 238 0 Mark Skaggs: (425) 250-0777 mark.skaggs@idaxdata.com 625 www.idaxdata.com TMC2 to to Two-Hour Count Summaries Note: Two-hour count summary volumes include heavy vehicles but exclude bicycles in overall count. Total 0 3 0 0 0 3 0 1 7 3 WB 0.7% 0.89 NB - - Peak Hour: 4:30 PM 5:30 PM HV %: PHF EB 1.0% 0.82 Date: Thu, Oct 31, 2019 Peak Hour Count Period: 4:00 PM 6:00 PM SB 0.0% 0.45 TOTAL 0.8% 0.92 TH RTUTLT TH RT UT LT Rolling One HourEastbound Westbound Northbound Southbound UT LT TH RT Interval Start N FRONTAGE RD W N FRONTAGE RD W 0 DOUBLE TREE ENTRANCE 15-min TotalUTLT TH RT 0 0 117 0 0 0 0 0 0 180 0 4:15 PM 1 2 81 0 4 0 0 0 0 04:00 PM 0 1 73 0 0 0 102 1 0 4 235 0 4:45 PM 0 1 64 0 5 0 0 0 0 0 201 0 4:30 PM 0 3 73 0 0 0 149 0 0 0 0 0 0 194 810 5:00 PM 0 1 75 0 0 0 122 0 0 0 0 0 00 0 128 1 0 0 0 0 138 2 0 0 0 0 3 205 835 5:15 PM 0 1 94 0 4 0 0 0 0 0 0 0 0 198 833 5:45 PM 0 3 71 0 1 0 0 0 0 0 236 870 5:30 PM 0 2 90 0 0 0 105 0 0 0 1 0 0 177 8160 0 0 1 0 00 0 101 1 0 0 3 0 7 1,626 0 Interval Start Heavy Vehicle Totals Bicycles Pedestrians (Crossing Leg) EB WB NB SB Total 0 6 306 18 0 0 0 0 0 7 870 0Peak Hour 0 0 0 0 2 00 0 Count Total 1 0 0 4:15 PM 0 2 0 0 2 0 0 0 0 0 0 0 0 West North South 4:00 PM 0 4 0 0 4 0 EB WB NB SB Total East 4:45 PM 0 1 0 0 1 0 0 0 0 0 0 0 4:30 PM 1 2 0 0 3 0 0 0 0 0 0 0 0 3 0 0 5:15 PM 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 5:00 PM 1 1 0 0 2 0 0 0 0 0 0 0 5:45 PM 1 3 0 0 4 0 0 0 0 0 0 0 5:30 PM 0 0 0 0 0 0 0 0 0 0 0 0 0 3 0 1 00 0 0 0 0 0 7 0 Peak Hr 3 4 0 0 7 0 0 0 0 0 0 0 0Count Total 4 13 0 0 17 0 00 0 0 0 0 3 0 537 12 0 14 621 0 0 0 962 0 03 0 N DOUBLE TREE ENTRANCE N FRONTAGE RD W N FRONTAGE RD W N FRONTAGE RD W 870TEV: 0.92PHF: 12 537 549 308 0 306 6312 544 0 Mark Skaggs: (425) 250-0777 mark.skaggs@idaxdata.com 626 www.idaxdata.com TMC2 to to Two-Hour Count Summaries Note: Two-hour count summary volumes include heavy vehicles but exclude bicycles in overall count. Total 0 3 2 3 0 0 1 0 9 8 WB 1.7% 0.85 NB - - Peak Hour: 4:30 PM 5:30 PM HV %: PHF EB 0.0% 0.89 Date: Sat, Nov 02, 2019 Peak Hour Count Period: 4:30 PM 6:30 PM SB 16.7% 0.75 TOTAL 1.5% 0.90 TH RTUTLT TH RT UT LT Rolling One HourEastbound Westbound Northbound Southbound UT LT TH RT Interval Start N FRONTAGE RD W N FRONTAGE RD W 0 DOUBLE TREE ENTRANCE 15-min TotalUTLT TH RT 0 0 75 3 0 0 3 0 3 146 0 4:45 PM 0 4 53 0 4 0 0 0 0 04:30 PM 0 1 55 0 0 0 80 1 0 3 172 0 5:15 PM 0 3 67 0 1 0 0 0 0 0 140 0 5:00 PM 0 3 62 0 0 0 102 0 0 0 2 0 3 158 616 5:30 PM 0 0 62 0 0 0 74 0 0 0 1 0 20 0 84 1 0 0 0 0 82 2 0 0 0 0 0 137 607 5:45 PM 0 2 49 0 1 0 0 0 0 0 1 0 3 128 560 6:15 PM 0 5 44 0 1 0 0 0 0 0 137 604 6:00 PM 1 2 47 0 0 0 73 0 0 0 2 0 0 108 5100 0 0 0 0 30 0 53 3 0 0 10 0 17 1,126 0 Interval Start Heavy Vehicle Totals Bicycles Pedestrians (Crossing Leg) EB WB NB SB Total 0 11 237 16 0 0 0 0 0 11 616 0Peak Hour 0 0 0 0 7 00 0 Count Total 1 0 0 4:45 PM 0 1 0 0 1 0 0 0 0 0 0 0 0 West North South 4:30 PM 0 2 0 1 3 0 EB WB NB SB Total East 5:15 PM 0 1 0 1 2 0 0 0 0 2 0 0 5:00 PM 0 2 0 1 3 0 0 0 0 0 0 0 0 3 0 0 5:45 PM 0 1 0 1 2 0 0 0 0 0 0 0 0 0 3 0 5:30 PM 0 0 0 0 0 0 0 0 0 0 0 0 6:15 PM 0 2 0 1 3 0 0 0 0 1 0 0 6:00 PM 2 1 0 0 3 0 0 0 0 0 0 0 0 0 0 0 00 0 0 0 0 0 9 0 Peak Hr 0 6 0 3 9 0 0 0 0 0 0 0 0Count Total 2 10 0 5 17 0 00 0 0 0 0 8 0 341 9 0 20 439 0 0 0 623 0 08 0 N DOUBLE TREE ENTRANCE N FRONTAGE RD W N FRONTAGE RD W N FRONTAGE RD W 616TEV: 0.90PHF: 9 341 350 244 0 237 11248 352 0 Mark Skaggs: (425) 250-0777 mark.skaggs@idaxdata.com 627 www.idaxdata.com TMC3 to to Two-Hour Count Summaries Note: Two-hour count summary volumes include heavy vehicles but exclude bicycles in overall count. Total 0 0 0 0 0 0 0 0 0 000 0 0 0 0 0 0 0 Peak Hr 2 2 0 0 4 0 0 0 0 0 0 0 0Count Total 4 3 0 0 7 0 0 0 00 0 0 0 0 08:45 AM 0 0 0 0 0 0 0 0 0 0 0 0 8:30 AM 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 8:15 AM 2 0 0 0 2 0 0 0 0 0 0 0 0 0 0 0 8:00 AM 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 7:30 AM 0 0 0 0 0 0 0 0 0 0 0 0 0 00 0 1 0 0 0 1 0 EB WB NB SB Total East 7:45 AM 1 0 0 0 1 0 0 0 Interval Start Heavy Vehicle Totals Bicycles Pedestrians (Crossing Leg) EB WB NB SB Total 0 0 7:15 AM 0 1 0 0 0 0 0 0 West North South 7:00 AM 1 0 0 0 0 25 0 0 2 0 1 0 0 96 00 0 1 0 0 00 0 3 67 0 0 Count Total 0 0 40 1 0 3 110 0 0 0 157 0 22 960 1 0 0 0 00 2 13 0 0 0 0 0 0 24 91 8:45 AM 0 0 6 0 0 0 0 0 0 0 30 84 8:30 AM 0 0 5 0 0 0 19 0 0 0 0 0 00 0 21 0 0 0 0 0 0 20 63 8:15 AM 0 0 9 0 0 0 0 0 0 0 17 61 8:00 AM 0 0 5 0 0 1 14 0 0 0 0 0 00 0 12 0 0 0 0 0 0 17 0 7:45 AM 0 0 5 0 0 0 1 0 0 0 9 0 7:30 AM 0 0 3 0 0 0 13 0 0 0 0 0 00 0 6 0 0 0 0 0 0 18 0 7:15 AM 0 0 3 0 0 0 1 0 0 0 TH RT 7:00 AM 0 0 4 1 0 0 12 UT LT TH RT UT LT Rolling One HourEastbound Westbound Northbound Southbound UT LT TH RT Interval Start CHAMONIX RD CHAMONIX RD FIRST BANK REAR ENTRANCE 0 15-min TotalUTLT TH RT SB - - TOTAL 4.2% 0.80 WB 2.9% 0.83 NB 0.0% 0.25 Peak Hour: 8:00 AM 9:00 AM HV %: PHF EB 8.0% 0.69 Date: Thu, Oct 31, 2019 Peak Hour Count Period: 7:00 AM 9:00 AM Peak Hour 0 0 0 0 N FIRST BANK REAR ENTRANCE CHAMONIX RD CHAMONIX RD CHAMONIX RD 96TEV: 0.80PHF: 67 3 70 260 0 2525 67 0 Mark Skaggs: (425) 250-0777 mark.skaggs@idaxdata.com 628 www.idaxdata.com TMC3 to to Two-Hour Count Summaries Note: Two-hour count summary volumes include heavy vehicles but exclude bicycles in overall count. Total 0 0 0 2 0 2 0 0 4 430 0 0 0 0 1 1 3 Peak Hr 1 1 0 0 2 0 0 0 0 0 0 0 0Count Total 4 2 0 0 6 0 0 0 00 0 0 0 0 05:45 PM 1 0 0 0 1 0 0 0 0 0 0 2 5:30 PM 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 5:15 PM 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 5:00 PM 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 4:30 PM 1 0 0 0 1 0 0 0 0 0 0 0 0 00 0 2 0 0 0 0 0 EB WB NB SB Total East 4:45 PM 0 0 0 0 0 0 0 0 Interval Start Heavy Vehicle Totals Bicycles Pedestrians (Crossing Leg) EB WB NB SB Total 0 0 4:15 PM 1 1 0 0 0 0 0 0 West North South 4:00 PM 0 0 0 0 0 112 0 0 7 0 4 0 0 182 03 0 1 0 0 00 0 0 66 0 0 Count Total 0 0 207 0 0 0 123 0 0 0 341 0 40 1810 0 0 0 0 00 0 12 0 0 2 0 0 0 52 182 5:45 PM 0 0 26 0 0 0 0 0 0 0 49 168 5:30 PM 0 0 36 0 0 0 16 0 1 0 0 0 00 0 13 0 0 1 0 0 0 40 157 5:15 PM 0 0 34 0 0 0 1 0 0 0 41 160 5:00 PM 0 0 21 0 0 0 18 0 0 0 0 0 00 0 19 0 0 1 0 0 0 38 0 4:45 PM 0 0 21 0 0 0 1 0 2 0 38 0 4:30 PM 0 0 22 0 0 0 13 0 0 0 0 0 00 0 14 0 0 0 0 0 0 43 0 4:15 PM 0 0 24 0 0 0 1 0 1 0 TH RT 4:00 PM 0 0 23 0 0 0 18 UT LT TH RT UT LT Rolling One HourEastbound Westbound Northbound Southbound UT LT TH RT Interval Start CHAMONIX RD CHAMONIX RD FIRST BANK REAR ENTRANCE 0 15-min TotalUTLT TH RT SB - - TOTAL 1.1% 0.88 WB 1.5% 0.87 NB 0.0% 0.50 Peak Hour: 4:45 PM 5:45 PM HV %: PHF EB 0.9% 0.78 Date: Thu, Oct 31, 2019 Peak Hour Count Period: 4:00 PM 6:00 PM Peak Hour 0 0 1 3 N FIRST BANK REAR ENTRANCE CHAMONIX RD CHAMONIX RD CHAMONIX RD 182TEV: 0.88PHF: 66 0 66 1130 0 112112 69 0 Mark Skaggs: (425) 250-0777 mark.skaggs@idaxdata.com 629 www.idaxdata.com TMC3 to to Two-Hour Count Summaries Note: Two-hour count summary volumes include heavy vehicles but exclude bicycles in overall count. Total 0 0 1 0 0 0 0 0 1 110 0 0 0 0 0 0 1 Peak Hr 2 0 0 0 2 0 0 0 0 0 0 0 0Count Total 3 0 0 0 3 0 0 0 00 0 0 0 0 06:15 PM 1 0 0 0 1 0 0 0 0 0 0 0 6:00 PM 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 5:45 PM 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 5:30 PM 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 5:00 PM 1 0 0 0 1 0 0 0 0 0 0 0 0 00 0 0 0 0 0 0 0 EB WB NB SB Total East 5:15 PM 0 0 0 0 0 0 0 0 Interval Start Heavy Vehicle Totals Bicycles Pedestrians (Crossing Leg) EB WB NB SB Total 0 0 4:45 PM 0 0 0 0 0 0 0 0 West North South 4:30 PM 0 0 0 0 0 61 0 0 1 0 3 0 0 114 00 0 1 0 0 00 0 0 52 0 0 Count Total 0 0 123 0 0 0 86 0 0 0 213 0 31 1040 0 0 0 0 00 0 10 0 0 0 0 0 0 20 112 6:15 PM 0 0 21 0 0 0 0 0 1 0 29 114 6:00 PM 0 0 7 0 0 0 12 0 0 0 0 0 00 0 12 0 0 0 0 0 0 24 112 5:45 PM 0 0 17 0 0 0 0 0 1 0 39 109 5:30 PM 0 0 15 0 0 0 8 0 0 0 0 0 00 0 22 0 0 0 0 0 0 22 0 5:15 PM 0 0 17 0 0 0 0 0 0 0 27 0 5:00 PM 0 0 12 0 0 0 10 0 0 0 0 0 00 0 7 0 0 1 0 0 0 21 0 4:45 PM 0 0 19 0 0 0 0 0 1 0 TH RT 4:30 PM 0 0 15 0 0 0 5 UT LT TH RT UT LT Rolling One HourEastbound Westbound Northbound Southbound UT LT TH RT Interval Start CHAMONIX RD CHAMONIX RD FIRST BANK REAR ENTRANCE 0 15-min TotalUTLT TH RT SB - - TOTAL 1.8% 0.73 WB 0.0% 0.59 NB 0.0% 0.25 Peak Hour: 5:00 PM 6:00 PM HV %: PHF EB 3.3% 0.90 Date: Sat, Nov 02, 2019 Peak Hour Count Period: 4:30 PM 6:30 PM Peak Hour 0 0 0 1 N FIRST BANK REAR ENTRANCE CHAMONIX RD CHAMONIX RD CHAMONIX RD 114TEV: 0.73PHF: 52 0 52 620 0 6161 52 0 Mark Skaggs: (425) 250-0777 mark.skaggs@idaxdata.com 630 631 632 633 Vail Doubletree Expansion Synchro 10 Report Vail, CO McDowell Engineering Intersection Int Delay, s/veh 1.3 Movement EBL EBT WBT WBR SBL SBR Lane Configurations Traffic Vol, veh/h 36 288 264 9 14 39 Future Vol, veh/h 36 288 264 9 14 39 Conflicting Peds, #/hr 0 0 0 0 0 0 Sign Control Free Free Free Free Stop Stop RT Channelized - None - None - None Storage Length 75 - - - - - Veh in Median Storage, # - 0 0 - 0 - Grade, % - 0 0 - 0 - Peak Hour Factor 92 92 92 92 92 92 Heavy Vehicles, % 2 2 2 2 2 2 Mvmt Flow 39 313 287 10 15 42 Major/Minor Major1 Major2 Minor2 Conflicting Flow All 297 0 - 0 683 149 Stage 1 - - - - 292 - Stage 2 - - - - 391 - Critical Hdwy 4.13 - - - 6.63 6.93 Critical Hdwy Stg 1 - - - - 5.83 - Critical Hdwy Stg 2 - - - - 5.43 - Follow-up Hdwy 2.219 - - - 3.519 3.319 Pot Cap-1 Maneuver 1263 - - - 399 871 Stage 1 - - - - 733 - Stage 2 - - - - 683 - Platoon blocked, % - - - Mov Cap-1 Maneuver 1263 - - - 387 871 Mov Cap-2 Maneuver - - - - 387 - Stage 1 - - - - 710 - Stage 2 - - - - 683 - Approach EB WB SB HCM Control Delay, s 0.9 0 11 HCM LOS B Minor Lane/Major Mvmt EBL EBT WBT WBRSBLn1 Capacity (veh/h) 1263 - - - 655 HCM Lane V/C Ratio 0.031 - - - 0.088 HCM Control Delay (s) 7.9 - - - 11 HCM Lane LOS A - - - B HCM 95th %tile Q(veh) 0.1 - - - 0.3 634 Vail Doubletree Expansion Synchro 10 Report Vail, CO McDowell Engineering Intersection Int Delay, s/veh 0.7 Movement EBL EBT WBT WBR SBL SBR Lane Configurations Traffic Vol, veh/h 16 633 764 24 10 36 Future Vol, veh/h 16 633 764 24 10 36 Conflicting Peds, #/hr 0 0 0 0 0 0 Sign Control Free Free Free Free Stop Stop RT Channelized - None - None - None Storage Length 75 - - - - - Veh in Median Storage, # - 0 0 - 0 - Grade, % - 0 0 - 0 - Peak Hour Factor 92 92 92 92 92 92 Heavy Vehicles, % 2 2 2 2 2 2 Mvmt Flow 17 688 830 26 11 39 Major/Minor Major1 Major2 Minor2 Conflicting Flow All 856 0 - 0 1565 428 Stage 1 - - - - 843 - Stage 2 - - - - 722 - Critical Hdwy 4.13 - - - 6.63 6.93 Critical Hdwy Stg 1 - - - - 5.83 - Critical Hdwy Stg 2 - - - - 5.43 - Follow-up Hdwy 2.219 - - - 3.519 3.319 Pot Cap-1 Maneuver 782 - - - 112 576 Stage 1 - - - - 383 - Stage 2 - - - - 480 - Platoon blocked, % - - - Mov Cap-1 Maneuver 782 - - - 110 576 Mov Cap-2 Maneuver - - - - 110 - Stage 1 - - - - 375 - Stage 2 - - - - 480 - Approach EB WB SB HCM Control Delay, s 0.2 0 19.4 HCM LOS C Minor Lane/Major Mvmt EBL EBT WBT WBRSBLn1 Capacity (veh/h) 782 - - - 300 HCM Lane V/C Ratio 0.022 - - - 0.167 HCM Control Delay (s) 9.7 - - - 19.4 HCM Lane LOS A - - - C HCM 95th %tile Q(veh) 0.1 - - - 0.6 635 Vail Doubletree Expansion Synchro 10 Report Vail, CO McDowell Engineering Intersection Int Delay, s/veh 0.4 Movement EBL EBT WBT WBR SBL SBR Lane Configurations Traffic Vol, veh/h 19 633 764 8 3 21 Future Vol, veh/h 19 633 764 8 3 21 Conflicting Peds, #/hr 0 0 0 0 0 0 Sign Control Free Free Free Free Stop Stop RT Channelized - None - None - None Storage Length 75 - - - - - Veh in Median Storage, # - 0 0 - 0 - Grade, % - 0 0 - 0 - Peak Hour Factor 92 92 92 92 92 92 Heavy Vehicles, % 2 2 2 2 2 2 Mvmt Flow 21 688 830 9 3 23 Major/Minor Major1 Major2 Minor2 Conflicting Flow All 839 0 - 0 1565 420 Stage 1 - - - - 835 - Stage 2 - - - - 730 - Critical Hdwy 4.13 - - - 6.63 6.93 Critical Hdwy Stg 1 - - - - 5.83 - Critical Hdwy Stg 2 - - - - 5.43 - Follow-up Hdwy 2.219 - - - 3.519 3.319 Pot Cap-1 Maneuver 794 - - - 112 583 Stage 1 - - - - 387 - Stage 2 - - - - 476 - Platoon blocked, % - - - Mov Cap-1 Maneuver 794 - - - 109 583 Mov Cap-2 Maneuver - - - - 109 - Stage 1 - - - - 377 - Stage 2 - - - - 476 - Approach EB WB SB HCM Control Delay, s 0.3 0 15.2 HCM LOS C Minor Lane/Major Mvmt EBL EBT WBT WBRSBLn1 Capacity (veh/h) 794 - - - 378 HCM Lane V/C Ratio 0.026 - - - 0.069 HCM Control Delay (s) 9.7 - - - 15.2 HCM Lane LOS A - - - C HCM 95th %tile Q(veh) 0.1 - - - 0.2 636 Vail Doubletree Expansion Synchro 10 Report Vail, CO McDowell Engineering Intersection Int Delay, s/veh 3.2 Movement EBL EBT WBT WBR SBL SBR Lane Configurations Traffic Vol, veh/h 96 327 277 32 40 94 Future Vol, veh/h 96 327 277 32 40 94 Conflicting Peds, #/hr 0 0 0 0 0 0 Sign Control Free Free Free Free Stop Stop RT Channelized - None - None - None Storage Length 75 - - - - - Veh in Median Storage, # - 0 0 - 0 - Grade, % - 0 0 - 0 - Peak Hour Factor 92 92 92 92 92 92 Heavy Vehicles, % 2 2 2 2 2 2 Mvmt Flow 104 355 301 35 43 102 Major/Minor Major1 Major2 Minor2 Conflicting Flow All 336 0 - 0 882 168 Stage 1 - - - - 319 - Stage 2 - - - - 563 - Critical Hdwy 4.13 - - - 6.63 6.93 Critical Hdwy Stg 1 - - - - 5.83 - Critical Hdwy Stg 2 - - - - 5.43 - Follow-up Hdwy 2.219 - - - 3.519 3.319 Pot Cap-1 Maneuver 1222 - - - 301 847 Stage 1 - - - - 710 - Stage 2 - - - - 569 - Platoon blocked, % - - - Mov Cap-1 Maneuver 1222 - - - 275 847 Mov Cap-2 Maneuver - - - - 275 - Stage 1 - - - - 650 - Stage 2 - - - - 569 - Approach EB WB SB HCM Control Delay, s 1.9 0 14.5 HCM LOS B Minor Lane/Major Mvmt EBL EBT WBT WBRSBLn1 Capacity (veh/h) 1222 - - - 523 HCM Lane V/C Ratio 0.085 - - - 0.278 HCM Control Delay (s) 8.2 - - - 14.5 HCM Lane LOS A - - - B HCM 95th %tile Q(veh) 0.3 - - - 1.1 637 Vail Doubletree Expansion Synchro 10 Report Vail, CO McDowell Engineering Intersection Int Delay, s/veh 1.8 Movement EBL EBT WBT WBR SBL SBR Lane Configurations Traffic Vol, veh/h 39 675 786 32 24 56 Future Vol, veh/h 39 675 786 32 24 56 Conflicting Peds, #/hr 0 0 0 0 0 0 Sign Control Free Free Free Free Stop Stop RT Channelized - None - None - None Storage Length 75 - - - - - Veh in Median Storage, # - 0 0 - 0 - Grade, % - 0 0 - 0 - Peak Hour Factor 92 92 92 92 92 92 Heavy Vehicles, % 2 2 2 2 2 2 Mvmt Flow 42 734 854 35 26 61 Major/Minor Major1 Major2 Minor2 Conflicting Flow All 889 0 - 0 1690 445 Stage 1 - - - - 872 - Stage 2 - - - - 818 - Critical Hdwy 4.13 - - - 6.63 6.93 Critical Hdwy Stg 1 - - - - 5.83 - Critical Hdwy Stg 2 - - - - 5.43 - Follow-up Hdwy 2.219 - - - 3.519 3.319 Pot Cap-1 Maneuver 760 - - - 93 561 Stage 1 - - - - 370 - Stage 2 - - - - 433 - Platoon blocked, % - - - Mov Cap-1 Maneuver 760 - - - 88 561 Mov Cap-2 Maneuver - - - - 88 - Stage 1 - - - - 350 - Stage 2 - - - - 433 - Approach EB WB SB HCM Control Delay, s 0.5 0 32.7 HCM LOS D Minor Lane/Major Mvmt EBL EBT WBT WBRSBLn1 Capacity (veh/h) 760 - - - 215 HCM Lane V/C Ratio 0.056 - - - 0.404 HCM Control Delay (s) 10 - - - 32.7 HCM Lane LOS B - - - D HCM 95th %tile Q(veh) 0.2 - - - 1.8 638 Vail Doubletree Expansion Synchro 10 Report Vail, CO McDowell Engineering Intersection Int Delay, s/veh 1.5 Movement EBL EBT WBT WBR SBL SBR Lane Configurations Traffic Vol, veh/h 38 683 793 26 16 65 Future Vol, veh/h 38 683 793 26 16 65 Conflicting Peds, #/hr 0 0 0 0 0 0 Sign Control Free Free Free Free Stop Stop RT Channelized - None - None - None Storage Length 75 - - - - - Veh in Median Storage, # - 0 0 - 0 - Grade, % - 0 0 - 0 - Peak Hour Factor 92 92 92 92 92 92 Heavy Vehicles, % 2 2 2 2 2 2 Mvmt Flow 41 742 862 28 17 71 Major/Minor Major1 Major2 Minor2 Conflicting Flow All 890 0 - 0 1700 445 Stage 1 - - - - 876 - Stage 2 - - - - 824 - Critical Hdwy 4.13 - - - 6.63 6.93 Critical Hdwy Stg 1 - - - - 5.83 - Critical Hdwy Stg 2 - - - - 5.43 - Follow-up Hdwy 2.219 - - - 3.519 3.319 Pot Cap-1 Maneuver 759 - - - 92 561 Stage 1 - - - - 369 - Stage 2 - - - - 430 - Platoon blocked, % - - - Mov Cap-1 Maneuver 759 - - - 87 561 Mov Cap-2 Maneuver - - - - 87 - Stage 1 - - - - 349 - Stage 2 - - - - 430 - Approach EB WB SB HCM Control Delay, s 0.5 0 24.7 HCM LOS C Minor Lane/Major Mvmt EBL EBT WBT WBRSBLn1 Capacity (veh/h) 759 - - - 270 HCM Lane V/C Ratio 0.054 - - - 0.326 HCM Control Delay (s) 10 - - - 24.7 HCM Lane LOS B - - - C HCM 95th %tile Q(veh) 0.2 - - - 1.4 639 Vail Doubletree Expansion Synchro 10 Report Vail, CO McDowell Engineering Intersection Int Delay, s/veh 1.2 Movement EBL EBT WBT WBR SBL SBR Lane Configurations Traffic Vol, veh/h 0 498 381 35 0 114 Future Vol, veh/h 0 498 381 35 0 114 Conflicting Peds, #/hr 0 0 0 0 0 0 Sign Control Free Free Free Free Stop Stop RT Channelized - None - None - None Storage Length - - - - - - Veh in Median Storage, # - 0 0 - 0 - Grade, % - 0 0 - 0 - Peak Hour Factor 92 92 92 92 92 92 Heavy Vehicles, % 2 2 2 2 2 2 Mvmt Flow 0 541 414 38 0 124 Major/Minor Major1 Major2 Minor2 Conflicting Flow All - 0 - 0 - 226 Stage 1 - - - - - - Stage 2 - - - - - - Critical Hdwy - - - - - 6.94 Critical Hdwy Stg 1 - - - - - - Critical Hdwy Stg 2 - - - - - - Follow-up Hdwy - - - - - 3.32 Pot Cap-1 Maneuver 0 - - - 0 777 Stage 1 0 - - - 0 - Stage 2 0 - - - 0 - Platoon blocked, % - - - Mov Cap-1 Maneuver - - - - - 777 Mov Cap-2 Maneuver - - - - - - Stage 1 - - - - - - Stage 2 - - - - - - Approach EB WB SB HCM Control Delay, s 0 0 10.5 HCM LOS B Minor Lane/Major Mvmt EBT WBT WBRSBLn1 Capacity (veh/h) - - - 777 HCM Lane V/C Ratio - - - 0.159 HCM Control Delay (s) - - - 10.5 HCM Lane LOS - - - B HCM 95th %tile Q(veh) - - - 0.6 640 Vail Doubletree Expansion Synchro 10 Report Vail, CO McDowell Engineering Intersection Int Delay, s/veh 0.5 Movement EBL EBT WBT WBR SBL SBR Lane Configurations Traffic Vol, veh/h 0 927 1073 34 0 75 Future Vol, veh/h 0 927 1073 34 0 75 Conflicting Peds, #/hr 0 0 0 0 0 0 Sign Control Free Free Free Free Stop Stop RT Channelized - None - None - None Storage Length - - - - - - Veh in Median Storage, # - 0 0 - 0 - Grade, % - 0 0 - 0 - Peak Hour Factor 92 92 92 92 92 92 Heavy Vehicles, % 2 2 2 2 2 2 Mvmt Flow 0 1008 1166 37 0 82 Major/Minor Major1 Major2 Minor2 Conflicting Flow All - 0 - 0 - 602 Stage 1 - - - - - - Stage 2 - - - - - - Critical Hdwy - - - - - 6.94 Critical Hdwy Stg 1 - - - - - - Critical Hdwy Stg 2 - - - - - - Follow-up Hdwy - - - - - 3.32 Pot Cap-1 Maneuver 0 - - - 0 443 Stage 1 0 - - - 0 - Stage 2 0 - - - 0 - Platoon blocked, % - - - Mov Cap-1 Maneuver - - - - - 443 Mov Cap-2 Maneuver - - - - - - Stage 1 - - - - - - Stage 2 - - - - - - Approach EB WB SB HCM Control Delay, s 0 0 15 HCM LOS C Minor Lane/Major Mvmt EBT WBT WBRSBLn1 Capacity (veh/h) - - - 443 HCM Lane V/C Ratio - - - 0.184 HCM Control Delay (s) - - - 15 HCM Lane LOS - - - C HCM 95th %tile Q(veh) - - - 0.7 641 Vail Doubletree Expansion Synchro 10 Report Vail, CO McDowell Engineering Intersection Int Delay, s/veh 0.5 Movement EBL EBT WBT WBR SBL SBR Lane Configurations Traffic Vol, veh/h 0 955 1077 28 0 76 Future Vol, veh/h 0 955 1077 28 0 76 Conflicting Peds, #/hr 0 0 0 0 0 0 Sign Control Free Free Free Free Stop Stop RT Channelized - None - None - None Storage Length - - - - - - Veh in Median Storage, # - 0 0 - 0 - Grade, % - 0 0 - 0 - Peak Hour Factor 92 92 92 92 92 92 Heavy Vehicles, % 2 2 2 2 2 2 Mvmt Flow 0 1038 1171 30 0 83 Major/Minor Major1 Major2 Minor2 Conflicting Flow All - 0 - 0 - 601 Stage 1 - - - - - - Stage 2 - - - - - - Critical Hdwy - - - - - 6.94 Critical Hdwy Stg 1 - - - - - - Critical Hdwy Stg 2 - - - - - - Follow-up Hdwy - - - - - 3.32 Pot Cap-1 Maneuver 0 - - - 0 443 Stage 1 0 - - - 0 - Stage 2 0 - - - 0 - Platoon blocked, % - - - Mov Cap-1 Maneuver - - - - - 443 Mov Cap-2 Maneuver - - - - - - Stage 1 - - - - - - Stage 2 - - - - - - Approach EB WB SB HCM Control Delay, s 0 0 15 HCM LOS C Minor Lane/Major Mvmt EBT WBT WBRSBLn1 Capacity (veh/h) - - - 443 HCM Lane V/C Ratio - - - 0.186 HCM Control Delay (s) - - - 15 HCM Lane LOS - - - C HCM 95th %tile Q(veh) - - - 0.7 642 Vail Doubletree Expansion Synchro 10 Report Vail, CO McDowell Engineering Intersection Int Delay, s/veh 0.3 Movement EBL EBT WBT WBR SBL SBR Lane Configurations Traffic Vol, veh/h 5 287 268 19 8 6 Future Vol, veh/h 5 287 268 19 8 6 Conflicting Peds, #/hr 0 0 0 0 0 0 Sign Control Free Free Free Free Stop Stop RT Channelized - None - None - None Storage Length - - - - - - Veh in Median Storage, # - 0 0 - 0 - Grade, % - 0 0 - 0 - Peak Hour Factor 92 92 92 92 92 92 Heavy Vehicles, % 2 2 2 2 2 2 Mvmt Flow 5 312 291 21 9 7 Major/Minor Major1 Major2 Minor2 Conflicting Flow All 312 0 - 0 468 156 Stage 1 - - - - 302 - Stage 2 - - - - 166 - Critical Hdwy 4.14 - - - 6.84 6.94 Critical Hdwy Stg 1 - - - - 5.84 - Critical Hdwy Stg 2 - - - - 5.84 - Follow-up Hdwy 2.22 - - - 3.52 3.32 Pot Cap-1 Maneuver 1245 - - - 524 862 Stage 1 - - - - 724 - Stage 2 - - - - 846 - Platoon blocked, % - - - Mov Cap-1 Maneuver 1245 - - - 521 862 Mov Cap-2 Maneuver - - - - 521 - Stage 1 - - - - 720 - Stage 2 - - - - 846 - Approach EB WB SB HCM Control Delay, s 0.1 0 10.9 HCM LOS B Minor Lane/Major Mvmt EBL EBT WBT WBRSBLn1 Capacity (veh/h) 1245 - - - 627 HCM Lane V/C Ratio 0.004 - - - 0.024 HCM Control Delay (s) 7.9 0 - - 10.9 HCM Lane LOS A A - - B HCM 95th %tile Q(veh) 0 - - - 0.1 643 Vail Doubletree Expansion Synchro 10 Report Vail, CO McDowell Engineering Intersection Int Delay, s/veh 0.2 Movement EBL EBT WBT WBR SBL SBR Lane Configurations Traffic Vol, veh/h 6 607 763 12 2 7 Future Vol, veh/h 6 607 763 12 2 7 Conflicting Peds, #/hr 0 0 0 0 0 0 Sign Control Free Free Free Free Stop Stop RT Channelized - None - None - None Storage Length - - - - - - Veh in Median Storage, # - 0 0 - 0 - Grade, % - 0 0 - 0 - Peak Hour Factor 92 92 92 92 92 92 Heavy Vehicles, % 2 2 2 2 2 2 Mvmt Flow 7 660 829 13 2 8 Major/Minor Major1 Major2 Minor2 Conflicting Flow All 842 0 - 0 1180 421 Stage 1 - - - - 836 - Stage 2 - - - - 344 - Critical Hdwy 4.14 - - - 6.84 6.94 Critical Hdwy Stg 1 - - - - 5.84 - Critical Hdwy Stg 2 - - - - 5.84 - Follow-up Hdwy 2.22 - - - 3.52 3.32 Pot Cap-1 Maneuver 789 - - - 183 581 Stage 1 - - - - 386 - Stage 2 - - - - 689 - Platoon blocked, % - - - Mov Cap-1 Maneuver 789 - - - 180 581 Mov Cap-2 Maneuver - - - - 180 - Stage 1 - - - - 381 - Stage 2 - - - - 689 - Approach EB WB SB HCM Control Delay, s 0.2 0 14.5 HCM LOS B Minor Lane/Major Mvmt EBL EBT WBT WBRSBLn1 Capacity (veh/h) 789 - - - 389 HCM Lane V/C Ratio 0.008 - - - 0.025 HCM Control Delay (s) 9.6 0.1 - - 14.5 HCM Lane LOS A A - - B HCM 95th %tile Q(veh) 0 - - - 0.1 644 Vail Doubletree Expansion Synchro 10 Report Vail, CO McDowell Engineering Intersection Int Delay, s/veh 0.4 Movement EBL EBT WBT WBR SBL SBR Lane Configurations Traffic Vol, veh/h 11 607 763 9 7 11 Future Vol, veh/h 11 607 763 9 7 11 Conflicting Peds, #/hr 0 0 0 0 0 0 Sign Control Free Free Free Free Stop Stop RT Channelized - None - None - None Storage Length - - - - - - Veh in Median Storage, # - 0 0 - 0 - Grade, % - 0 0 - 0 - Peak Hour Factor 92 92 92 92 92 92 Heavy Vehicles, % 2 2 2 2 2 2 Mvmt Flow 12 660 829 10 8 12 Major/Minor Major1 Major2 Minor2 Conflicting Flow All 839 0 - 0 1188 420 Stage 1 - - - - 834 - Stage 2 - - - - 354 - Critical Hdwy 4.14 - - - 6.84 6.94 Critical Hdwy Stg 1 - - - - 5.84 - Critical Hdwy Stg 2 - - - - 5.84 - Follow-up Hdwy 2.22 - - - 3.52 3.32 Pot Cap-1 Maneuver 791 - - - 181 582 Stage 1 - - - - 387 - Stage 2 - - - - 681 - Platoon blocked, % - - - Mov Cap-1 Maneuver 791 - - - 177 582 Mov Cap-2 Maneuver - - - - 177 - Stage 1 - - - - 378 - Stage 2 - - - - 681 - Approach EB WB SB HCM Control Delay, s 0.3 0 17.5 HCM LOS C Minor Lane/Major Mvmt EBL EBT WBT WBRSBLn1 Capacity (veh/h) 791 - - - 308 HCM Lane V/C Ratio 0.015 - - - 0.064 HCM Control Delay (s) 9.6 0.1 - - 17.5 HCM Lane LOS A A - - C HCM 95th %tile Q(veh) 0 - - - 0.2 645 Vail Doubletree Expansion Synchro 10 Report Vail, CO McDowell Engineering Intersection Int Delay, s/veh 0.9 Movement EBL EBT WBT WBR SBL SBR Lane Configurations Traffic Vol, veh/h 39 327 300 26 13 13 Future Vol, veh/h 39 327 300 26 13 13 Conflicting Peds, #/hr 0 0 0 0 0 0 Sign Control Free Free Free Free Stop Stop RT Channelized - None - None - None Storage Length 0 - - - - - Veh in Median Storage, # - 0 0 - 0 - Grade, % - 0 0 - 0 - Peak Hour Factor 92 92 92 92 92 92 Heavy Vehicles, % 2 2 2 2 2 2 Mvmt Flow 42 355 326 28 14 14 Major/Minor Major1 Major2 Minor2 Conflicting Flow All 354 0 - 0 779 177 Stage 1 - - - - 340 - Stage 2 - - - - 439 - Critical Hdwy 4.13 - - - 6.63 6.93 Critical Hdwy Stg 1 - - - - 5.83 - Critical Hdwy Stg 2 - - - - 5.43 - Follow-up Hdwy 2.219 - - - 3.519 3.319 Pot Cap-1 Maneuver 1203 - - - 348 836 Stage 1 - - - - 693 - Stage 2 - - - - 649 - Platoon blocked, % - - - Mov Cap-1 Maneuver 1203 - - - 336 836 Mov Cap-2 Maneuver - - - - 336 - Stage 1 - - - - 669 - Stage 2 - - - - 649 - Approach EB WB SB HCM Control Delay, s 0.9 0 13 HCM LOS B Minor Lane/Major Mvmt EBL EBT WBT WBRSBLn1 Capacity (veh/h) 1203 - - - 479 HCM Lane V/C Ratio 0.035 - - - 0.059 HCM Control Delay (s) 8.1 - - - 13 HCM Lane LOS A - - - B HCM 95th %tile Q(veh) 0.1 - - - 0.2 646 Vail Doubletree Expansion Synchro 10 Report Vail, CO McDowell Engineering Intersection Int Delay, s/veh 1.3 Movement EBL EBT WBT WBR SBL SBR Lane Configurations Traffic Vol, veh/h 42 631 795 34 22 22 Future Vol, veh/h 42 631 795 34 22 22 Conflicting Peds, #/hr 0 0 0 0 0 0 Sign Control Free Free Free Free Stop Stop RT Channelized - None - None - None Storage Length 0 - - - - - Veh in Median Storage, # - 0 0 - 0 - Grade, % - 0 0 - 0 - Peak Hour Factor 92 92 92 92 92 92 Heavy Vehicles, % 2 2 2 2 2 2 Mvmt Flow 46 686 864 37 24 24 Major/Minor Major1 Major2 Minor2 Conflicting Flow All 901 0 - 0 1661 451 Stage 1 - - - - 883 - Stage 2 - - - - 778 - Critical Hdwy 4.13 - - - 6.63 6.93 Critical Hdwy Stg 1 - - - - 5.83 - Critical Hdwy Stg 2 - - - - 5.43 - Follow-up Hdwy 2.219 - - - 3.519 3.319 Pot Cap-1 Maneuver 752 - - - 97 556 Stage 1 - - - - 365 - Stage 2 - - - - 452 - Platoon blocked, % - - - Mov Cap-1 Maneuver 752 - - - 91 556 Mov Cap-2 Maneuver - - - - 91 - Stage 1 - - - - 343 - Stage 2 - - - - 452 - Approach EB WB SB HCM Control Delay, s 0.6 0 38 HCM LOS E Minor Lane/Major Mvmt EBL EBT WBT WBRSBLn1 Capacity (veh/h) 752 - - - 156 HCM Lane V/C Ratio 0.061 - - - 0.307 HCM Control Delay (s) 10.1 - - - 38 HCM Lane LOS B - - - E HCM 95th %tile Q(veh) 0.2 - - - 1.2 647 Vail Doubletree Expansion Synchro 10 Report Vail, CO McDowell Engineering Intersection Int Delay, s/veh 1.4 Movement EBL EBT WBT WBR SBL SBR Lane Configurations Traffic Vol, veh/h 50 623 789 41 19 29 Future Vol, veh/h 50 623 789 41 19 29 Conflicting Peds, #/hr 0 0 0 0 0 0 Sign Control Free Free Free Free Stop Stop RT Channelized - None - None - None Storage Length 0 - - - - - Veh in Median Storage, # - 0 0 - 0 - Grade, % - 0 0 - 0 - Peak Hour Factor 92 92 92 92 92 92 Heavy Vehicles, % 2 2 2 2 2 2 Mvmt Flow 54 677 858 45 21 32 Major/Minor Major1 Major2 Minor2 Conflicting Flow All 903 0 - 0 1666 452 Stage 1 - - - - 881 - Stage 2 - - - - 785 - Critical Hdwy 4.13 - - - 6.63 6.93 Critical Hdwy Stg 1 - - - - 5.83 - Critical Hdwy Stg 2 - - - - 5.43 - Follow-up Hdwy 2.219 - - - 3.519 3.319 Pot Cap-1 Maneuver 751 - - - 96 556 Stage 1 - - - - 366 - Stage 2 - - - - 448 - Platoon blocked, % - - - Mov Cap-1 Maneuver 751 - - - 89 556 Mov Cap-2 Maneuver - - - - 89 - Stage 1 - - - - 340 - Stage 2 - - - - 448 - Approach EB WB SB HCM Control Delay, s 0.8 0 32.8 HCM LOS D Minor Lane/Major Mvmt EBL EBT WBT WBRSBLn1 Capacity (veh/h) 751 - - - 181 HCM Lane V/C Ratio 0.072 - - - 0.288 HCM Control Delay (s) 10.2 - - - 32.8 HCM Lane LOS B - - - D HCM 95th %tile Q(veh) 0.2 - - - 1.1 648 Vail Doubletree Expansion Synchro 10 Report Vail, CO McDowell Engineering Intersection Int Delay, s/veh 1.3 Movement EBL EBT WBT WBR SBL SBR Lane Configurations Traffic Vol, veh/h 111 385 395 48 0 26 Future Vol, veh/h 111 385 395 48 0 26 Conflicting Peds, #/hr 0 0 0 0 0 0 Sign Control Free Free Free Free Stop Stop RT Channelized - None - None - None Storage Length 0 - - - - - Veh in Median Storage, # - 0 0 - 0 - Grade, % - 0 0 - 0 - Peak Hour Factor 92 92 92 92 92 92 Heavy Vehicles, % 2 2 2 2 2 2 Mvmt Flow 121 418 429 52 0 28 Major/Minor Major1 Major2 Minor2 Conflicting Flow All 481 0 - 0 - 241 Stage 1 - - - - - - Stage 2 - - - - - - Critical Hdwy 4.13 - - - - 6.93 Critical Hdwy Stg 1 - - - - - - Critical Hdwy Stg 2 - - - - - - Follow-up Hdwy 2.219 - - - - 3.319 Pot Cap-1 Maneuver 1080 - - - 0 761 Stage 1 - - - - 0 - Stage 2 - - - - 0 - Platoon blocked, % - - - Mov Cap-1 Maneuver 1080 - - - - 761 Mov Cap-2 Maneuver - - - - - - Stage 1 - - - - - - Stage 2 - - - - - - Approach EB WB SB HCM Control Delay, s 2 0 9.9 HCM LOS A Minor Lane/Major Mvmt EBL EBT WBT WBRSBLn1 Capacity (veh/h) 1080 - - - 761 HCM Lane V/C Ratio 0.112 - - - 0.037 HCM Control Delay (s) 8.8 - - - 9.9 HCM Lane LOS A - - - A HCM 95th %tile Q(veh) 0.4 - - - 0.1 649 Vail Doubletree Expansion Synchro 10 Report Vail, CO McDowell Engineering Intersection Int Delay, s/veh 0.7 Movement EBL EBT WBT WBR SBL SBR Lane Configurations Traffic Vol, veh/h 74 817 1062 40 0 44 Future Vol, veh/h 74 817 1062 40 0 44 Conflicting Peds, #/hr 0 0 0 0 0 0 Sign Control Free Free Free Free Stop Stop RT Channelized - None - None - None Storage Length 0 - - - - - Veh in Median Storage, # - 0 0 - 0 - Grade, % - 0 0 - 0 - Peak Hour Factor 92 92 92 92 92 92 Heavy Vehicles, % 2 2 2 2 2 2 Mvmt Flow 80 888 1154 43 0 48 Major/Minor Major1 Major2 Minor2 Conflicting Flow All 1197 0 - 0 - 599 Stage 1 - - - - - - Stage 2 - - - - - - Critical Hdwy 4.13 - - - - 6.93 Critical Hdwy Stg 1 - - - - - - Critical Hdwy Stg 2 - - - - - - Follow-up Hdwy 2.219 - - - - 3.319 Pot Cap-1 Maneuver 581 - - - 0 446 Stage 1 - - - - 0 - Stage 2 - - - - 0 - Platoon blocked, % - - - Mov Cap-1 Maneuver 581 - - - - 446 Mov Cap-2 Maneuver - - - - - - Stage 1 - - - - - - Stage 2 - - - - - - Approach EB WB SB HCM Control Delay, s 1 0 14 HCM LOS B Minor Lane/Major Mvmt EBL EBT WBT WBRSBLn1 Capacity (veh/h) 581 - - - 446 HCM Lane V/C Ratio 0.138 - - - 0.107 HCM Control Delay (s) 12.2 - - - 14 HCM Lane LOS B - - - B HCM 95th %tile Q(veh) 0.5 - - - 0.4 650 Vail Doubletree Expansion Synchro 10 Report Vail, CO McDowell Engineering Intersection Int Delay, s/veh 1 Movement EBL EBT WBT WBR SBL SBR Lane Configurations Traffic Vol, veh/h 102 817 1056 25 0 48 Future Vol, veh/h 102 817 1056 25 0 48 Conflicting Peds, #/hr 0 0 0 0 0 0 Sign Control Free Free Free Free Stop Stop RT Channelized - None - None - None Storage Length 0 - - - - - Veh in Median Storage, # - 0 0 - 0 - Grade, % - 0 0 - 0 - Peak Hour Factor 92 92 92 92 92 92 Heavy Vehicles, % 2 2 2 2 2 2 Mvmt Flow 111 888 1148 27 0 52 Major/Minor Major1 Major2 Minor2 Conflicting Flow All 1175 0 - 0 - 588 Stage 1 - - - - - - Stage 2 - - - - - - Critical Hdwy 4.13 - - - - 6.93 Critical Hdwy Stg 1 - - - - - - Critical Hdwy Stg 2 - - - - - - Follow-up Hdwy 2.219 - - - - 3.319 Pot Cap-1 Maneuver 592 - - - 0 453 Stage 1 - - - - 0 - Stage 2 - - - - 0 - Platoon blocked, % - - - Mov Cap-1 Maneuver 592 - - - - 453 Mov Cap-2 Maneuver - - - - - - Stage 1 - - - - - - Stage 2 - - - - - - Approach EB WB SB HCM Control Delay, s 1.4 0 14 HCM LOS B Minor Lane/Major Mvmt EBL EBT WBT WBRSBLn1 Capacity (veh/h) 592 - - - 453 HCM Lane V/C Ratio 0.187 - - - 0.115 HCM Control Delay (s) 12.5 - - - 14 HCM Lane LOS B - - - B HCM 95th %tile Q(veh) 0.7 - - - 0.4 651 Vail Doubletree Expansion Synchro 10 Report Vail, CO McDowell Engineering Intersection Int Delay, s/veh 0.3 Movement EBT EBR WBL WBT NBL NBR Lane Configurations Traffic Vol, veh/h 23 0 3 63 0 1 Future Vol, veh/h 23 0 3 63 0 1 Conflicting Peds, #/hr 0 0 0 0 0 0 Sign Control Free Free Free Free Stop Stop RT Channelized - None - None - None Storage Length - - - - - - Veh in Median Storage, # 0 - - 0 0 - Grade, % 0 - - 0 0 - Peak Hour Factor 92 92 92 92 92 92 Heavy Vehicles, % 2 2 2 2 2 2 Mvmt Flow 25 0 3 68 0 1 Major/Minor Major1 Major2 Minor1 Conflicting Flow All 0 0 25 0 99 25 Stage 1 - - - - 25 - Stage 2 - - - - 74 - Critical Hdwy - - 4.12 - 6.42 6.22 Critical Hdwy Stg 1 - - - - 5.42 - Critical Hdwy Stg 2 - - - - 5.42 - Follow-up Hdwy - - 2.218 - 3.518 3.318 Pot Cap-1 Maneuver - - 1589 - 900 1051 Stage 1 - - - - 998 - Stage 2 - - - - 949 - Platoon blocked, % - - - Mov Cap-1 Maneuver - - 1589 - 898 1051 Mov Cap-2 Maneuver - - - - 898 - Stage 1 - - - - 996 - Stage 2 - - - - 949 - Approach EB WB NB HCM Control Delay, s 0 0.3 8.4 HCM LOS A Minor Lane/Major Mvmt NBLn1 EBT EBR WBL WBT Capacity (veh/h) 1051 - - 1589 - HCM Lane V/C Ratio 0.001 - - 0.002 - HCM Control Delay (s) 8.4 - - 7.3 0 HCM Lane LOS A - - A A HCM 95th %tile Q(veh) 0 - - 0 - 652 Vail Doubletree Expansion Synchro 10 Report Vail, CO McDowell Engineering Intersection Int Delay, s/veh 0.1 Movement EBT EBR WBL WBT NBL NBR Lane Configurations Traffic Vol, veh/h 103 0 0 66 0 1 Future Vol, veh/h 103 0 0 66 0 1 Conflicting Peds, #/hr 0 0 0 0 0 0 Sign Control Free Free Free Free Stop Stop RT Channelized - None - None - None Storage Length - - - - - - Veh in Median Storage, # 0 - - 0 0 - Grade, % 0 - - 0 0 - Peak Hour Factor 92 92 92 92 92 92 Heavy Vehicles, % 2 2 2 2 2 2 Mvmt Flow 112 0 0 72 0 1 Major/Minor Major1 Major2 Minor1 Conflicting Flow All 0 0 112 0 184 112 Stage 1 - - - - 112 - Stage 2 - - - - 72 - Critical Hdwy - - 4.12 - 6.42 6.22 Critical Hdwy Stg 1 - - - - 5.42 - Critical Hdwy Stg 2 - - - - 5.42 - Follow-up Hdwy - - 2.218 - 3.518 3.318 Pot Cap-1 Maneuver - - 1478 - 805 941 Stage 1 - - - - 913 - Stage 2 - - - - 951 - Platoon blocked, % - - - Mov Cap-1 Maneuver - - 1478 - 805 941 Mov Cap-2 Maneuver - - - - 805 - Stage 1 - - - - 913 - Stage 2 - - - - 951 - Approach EB WB NB HCM Control Delay, s 0 0 8.8 HCM LOS A Minor Lane/Major Mvmt NBLn1 EBT EBR WBL WBT Capacity (veh/h) 941 - - 1478 - HCM Lane V/C Ratio 0.001 - - - - HCM Control Delay (s) 8.8 - - 0 - HCM Lane LOS A - - A - HCM 95th %tile Q(veh) 0 - - 0 - 653 Vail Doubletree Expansion Synchro 10 Report Vail, CO McDowell Engineering Intersection Int Delay, s/veh 0.1 Movement EBT EBR WBL WBT NBL NBR Lane Configurations Traffic Vol, veh/h 66 0 0 46 0 1 Future Vol, veh/h 66 0 0 46 0 1 Conflicting Peds, #/hr 0 0 0 0 0 0 Sign Control Free Free Free Free Stop Stop RT Channelized - None - None - None Storage Length - - - - - - Veh in Median Storage, # 0 - - 0 0 - Grade, % 0 - - 0 0 - Peak Hour Factor 92 92 92 92 92 92 Heavy Vehicles, % 2 2 2 2 2 2 Mvmt Flow 72 0 0 50 0 1 Major/Minor Major1 Major2 Minor1 Conflicting Flow All 0 0 72 0 122 72 Stage 1 - - - - 72 - Stage 2 - - - - 50 - Critical Hdwy - - 4.12 - 6.42 6.22 Critical Hdwy Stg 1 - - - - 5.42 - Critical Hdwy Stg 2 - - - - 5.42 - Follow-up Hdwy - - 2.218 - 3.518 3.318 Pot Cap-1 Maneuver - - 1528 - 873 990 Stage 1 - - - - 951 - Stage 2 - - - - 972 - Platoon blocked, % - - - Mov Cap-1 Maneuver - - 1528 - 873 990 Mov Cap-2 Maneuver - - - - 873 - Stage 1 - - - - 951 - Stage 2 - - - - 972 - Approach EB WB NB HCM Control Delay, s 0 0 8.6 HCM LOS A Minor Lane/Major Mvmt NBLn1 EBT EBR WBL WBT Capacity (veh/h) 990 - - 1528 - HCM Lane V/C Ratio 0.001 - - - - HCM Control Delay (s) 8.6 - - 0 - HCM Lane LOS A - - A - HCM 95th %tile Q(veh) 0 - - 0 - 654 Vail Doubletree Expansion Synchro 10 Report Vail, CO McDowell Engineering Intersection Int Delay, s/veh 0.7 Movement EBT EBR WBL WBT NBL NBR Lane Configurations Traffic Vol, veh/h 23 0 0 63 4 3 Future Vol, veh/h 23 0 0 63 4 3 Conflicting Peds, #/hr 0 0 0 0 0 0 Sign Control Free Free Free Free Stop Stop RT Channelized - None - None - None Storage Length - - - - - - Veh in Median Storage, # 0 - - 0 0 - Grade, % 0 - - 0 0 - Peak Hour Factor 92 92 92 92 92 92 Heavy Vehicles, % 2 2 2 2 2 2 Mvmt Flow 25 0 0 68 4 3 Major/Minor Major1 Major2 Minor1 Conflicting Flow All 0 0 25 0 93 25 Stage 1 - - - - 25 - Stage 2 - - - - 68 - Critical Hdwy - - 4.12 - 6.42 6.22 Critical Hdwy Stg 1 - - - - 5.42 - Critical Hdwy Stg 2 - - - - 5.42 - Follow-up Hdwy - - 2.218 - 3.518 3.318 Pot Cap-1 Maneuver - - 1589 - 907 1051 Stage 1 - - - - 998 - Stage 2 - - - - 955 - Platoon blocked, % - - - Mov Cap-1 Maneuver - - 1589 - 907 1051 Mov Cap-2 Maneuver - - - - 907 - Stage 1 - - - - 998 - Stage 2 - - - - 955 - Approach EB WB NB HCM Control Delay, s 0 0 8.8 HCM LOS A Minor Lane/Major Mvmt NBLn1 EBT EBR WBL WBT Capacity (veh/h) 964 - - 1589 - HCM Lane V/C Ratio 0.008 - - - - HCM Control Delay (s) 8.8 - - 0 - HCM Lane LOS A - - A - HCM 95th %tile Q(veh) 0 - - 0 - 655 Vail Doubletree Expansion Synchro 10 Report Vail, CO McDowell Engineering Intersection Int Delay, s/veh 0.6 Movement EBT EBR WBL WBT NBL NBR Lane Configurations Traffic Vol, veh/h 103 0 0 66 7 5 Future Vol, veh/h 103 0 0 66 7 5 Conflicting Peds, #/hr 0 0 0 0 0 0 Sign Control Free Free Free Free Stop Stop RT Channelized - None - None - None Storage Length - - - - - - Veh in Median Storage, # 0 - - 0 0 - Grade, % 0 - - 0 0 - Peak Hour Factor 92 92 92 92 92 92 Heavy Vehicles, % 2 2 2 2 2 2 Mvmt Flow 112 0 0 72 8 5 Major/Minor Major1 Major2 Minor1 Conflicting Flow All 0 0 112 0 184 112 Stage 1 - - - - 112 - Stage 2 - - - - 72 - Critical Hdwy - - 4.12 - 6.42 6.22 Critical Hdwy Stg 1 - - - - 5.42 - Critical Hdwy Stg 2 - - - - 5.42 - Follow-up Hdwy - - 2.218 - 3.518 3.318 Pot Cap-1 Maneuver - - 1478 - 805 941 Stage 1 - - - - 913 - Stage 2 - - - - 951 - Platoon blocked, % - - - Mov Cap-1 Maneuver - - 1478 - 805 941 Mov Cap-2 Maneuver - - - - 805 - Stage 1 - - - - 913 - Stage 2 - - - - 951 - Approach EB WB NB HCM Control Delay, s 0 0 9.3 HCM LOS A Minor Lane/Major Mvmt NBLn1 EBT EBR WBL WBT Capacity (veh/h) 857 - - 1478 - HCM Lane V/C Ratio 0.015 - - - - HCM Control Delay (s) 9.3 - - 0 - HCM Lane LOS A - - A - HCM 95th %tile Q(veh) 0 - - 0 - 656 Vail Doubletree Expansion Synchro 10 Report Vail, CO McDowell Engineering Intersection Int Delay, s/veh 0.9 Movement EBT EBR WBL WBT NBL NBR Lane Configurations Traffic Vol, veh/h 66 0 0 46 7 5 Future Vol, veh/h 66 0 0 46 7 5 Conflicting Peds, #/hr 0 0 0 0 0 0 Sign Control Free Free Free Free Stop Stop RT Channelized - None - None - None Storage Length - - - - - - Veh in Median Storage, # 0 - - 0 0 - Grade, % 0 - - 0 0 - Peak Hour Factor 92 92 92 92 92 92 Heavy Vehicles, % 2 2 2 2 2 2 Mvmt Flow 72 0 0 50 8 5 Major/Minor Major1 Major2 Minor1 Conflicting Flow All 0 0 72 0 122 72 Stage 1 - - - - 72 - Stage 2 - - - - 50 - Critical Hdwy - - 4.12 - 6.42 6.22 Critical Hdwy Stg 1 - - - - 5.42 - Critical Hdwy Stg 2 - - - - 5.42 - Follow-up Hdwy - - 2.218 - 3.518 3.318 Pot Cap-1 Maneuver - - 1528 - 873 990 Stage 1 - - - - 951 - Stage 2 - - - - 972 - Platoon blocked, % - - - Mov Cap-1 Maneuver - - 1528 - 873 990 Mov Cap-2 Maneuver - - - - 873 - Stage 1 - - - - 951 - Stage 2 - - - - 972 - Approach EB WB NB HCM Control Delay, s 0 0 9 HCM LOS A Minor Lane/Major Mvmt NBLn1 EBT EBR WBL WBT Capacity (veh/h) 918 - - 1528 - HCM Lane V/C Ratio 0.014 - - - - HCM Control Delay (s) 9 - - 0 - HCM Lane LOS A - - A - HCM 95th %tile Q(veh) 0 - - 0 - 657 Vail Doubletree Expansion Synchro 10 Report Vail, CO McDowell Engineering Intersection Int Delay, s/veh 2.2 Movement EBT EBR WBL WBT NBL NBR Lane Configurations Traffic Vol, veh/h 23 0 0 63 25 3 Future Vol, veh/h 23 0 0 63 25 3 Conflicting Peds, #/hr 0 0 0 0 0 0 Sign Control Free Free Free Free Stop Stop RT Channelized - None - None - None Storage Length - - - - - - Veh in Median Storage, # 0 - - 0 0 - Grade, % 0 - - 0 0 - Peak Hour Factor 92 92 92 92 92 92 Heavy Vehicles, % 2 2 2 2 2 2 Mvmt Flow 25 0 0 68 27 3 Major/Minor Major1 Major2 Minor1 Conflicting Flow All 0 0 25 0 93 25 Stage 1 - - - - 25 - Stage 2 - - - - 68 - Critical Hdwy - - 4.12 - 6.42 6.22 Critical Hdwy Stg 1 - - - - 5.42 - Critical Hdwy Stg 2 - - - - 5.42 - Follow-up Hdwy - - 2.218 - 3.518 3.318 Pot Cap-1 Maneuver - - 1589 - 907 1051 Stage 1 - - - - 998 - Stage 2 - - - - 955 - Platoon blocked, % - - - Mov Cap-1 Maneuver - - 1589 - 907 1051 Mov Cap-2 Maneuver - - - - 907 - Stage 1 - - - - 998 - Stage 2 - - - - 955 - Approach EB WB NB HCM Control Delay, s 0 0 9 HCM LOS A Minor Lane/Major Mvmt NBLn1 EBT EBR WBL WBT Capacity (veh/h) 921 - - 1589 - HCM Lane V/C Ratio 0.033 - - - - HCM Control Delay (s) 9 - - 0 - HCM Lane LOS A - - A - HCM 95th %tile Q(veh) 0.1 - - 0 - 658 Vail Doubletree Expansion Synchro 10 Report Vail, CO McDowell Engineering Intersection Int Delay, s/veh 0.9 Movement EBT EBR WBL WBT NBL NBR Lane Configurations Traffic Vol, veh/h 103 0 0 66 16 2 Future Vol, veh/h 103 0 0 66 16 2 Conflicting Peds, #/hr 0 0 0 0 0 0 Sign Control Free Free Free Free Stop Stop RT Channelized - None - None - None Storage Length - - - - - - Veh in Median Storage, # 0 - - 0 0 - Grade, % 0 - - 0 0 - Peak Hour Factor 92 92 92 92 92 92 Heavy Vehicles, % 2 2 2 2 2 2 Mvmt Flow 112 0 0 72 17 2 Major/Minor Major1 Major2 Minor1 Conflicting Flow All 0 0 112 0 184 112 Stage 1 - - - - 112 - Stage 2 - - - - 72 - Critical Hdwy - - 4.12 - 6.42 6.22 Critical Hdwy Stg 1 - - - - 5.42 - Critical Hdwy Stg 2 - - - - 5.42 - Follow-up Hdwy - - 2.218 - 3.518 3.318 Pot Cap-1 Maneuver - - 1478 - 805 941 Stage 1 - - - - 913 - Stage 2 - - - - 951 - Platoon blocked, % - - - Mov Cap-1 Maneuver - - 1478 - 805 941 Mov Cap-2 Maneuver - - - - 805 - Stage 1 - - - - 913 - Stage 2 - - - - 951 - Approach EB WB NB HCM Control Delay, s 0 0 9.5 HCM LOS A Minor Lane/Major Mvmt NBLn1 EBT EBR WBL WBT Capacity (veh/h) 818 - - 1478 - HCM Lane V/C Ratio 0.024 - - - - HCM Control Delay (s) 9.5 - - 0 - HCM Lane LOS A - - A - HCM 95th %tile Q(veh) 0.1 - - 0 - 659 Vail Doubletree Expansion Synchro 10 Report Vail, CO McDowell Engineering Intersection Int Delay, s/veh 1.3 Movement EBT EBR WBL WBT NBL NBR Lane Configurations Traffic Vol, veh/h 66 0 0 46 16 2 Future Vol, veh/h 66 0 0 46 16 2 Conflicting Peds, #/hr 0 0 0 0 0 0 Sign Control Free Free Free Free Stop Stop RT Channelized - None - None - None Storage Length - - - - - - Veh in Median Storage, # 0 - - 0 0 - Grade, % 0 - - 0 0 - Peak Hour Factor 92 92 92 92 92 92 Heavy Vehicles, % 2 2 2 2 2 2 Mvmt Flow 72 0 0 50 17 2 Major/Minor Major1 Major2 Minor1 Conflicting Flow All 0 0 72 0 122 72 Stage 1 - - - - 72 - Stage 2 - - - - 50 - Critical Hdwy - - 4.12 - 6.42 6.22 Critical Hdwy Stg 1 - - - - 5.42 - Critical Hdwy Stg 2 - - - - 5.42 - Follow-up Hdwy - - 2.218 - 3.518 3.318 Pot Cap-1 Maneuver - - 1528 - 873 990 Stage 1 - - - - 951 - Stage 2 - - - - 972 - Platoon blocked, % - - - Mov Cap-1 Maneuver - - 1528 - 873 990 Mov Cap-2 Maneuver - - - - 873 - Stage 1 - - - - 951 - Stage 2 - - - - 972 - Approach EB WB NB HCM Control Delay, s 0 0 9.2 HCM LOS A Minor Lane/Major Mvmt NBLn1 EBT EBR WBL WBT Capacity (veh/h) 885 - - 1528 - HCM Lane V/C Ratio 0.022 - - - - HCM Control Delay (s) 9.2 - - 0 - HCM Lane LOS A - - A - HCM 95th %tile Q(veh) 0.1 - - 0 - 660 661 662 663 664 665 666 667 668 669 670 671 672 673 674 675 676 677 678 679 680 681 682 683 684 685 686 687 688 689 690 691 692 693 694 695 696 697 698 699 700 701 702 703 704 705 706 707 708 709 710 711 712 713 714 715 716 717 718 719 720 721 722 723 724 725 Planning and Environmental Commission Minutes Monday, December 23, 2024 1:00 PM Vail Town Council Chambers Present: David N Tucker William A Jensen Robert N Lipnick John Rediker Scott P McBride Brad Hagedorn Robyn Smith Absent: 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 of an application to reestablish Special Development District No. 43, pursuant to Section 12 -9(A), Special Development Districts, Vail Town Code, to allow for the development of a hotel addition, add conference space and an employee housing apartment building, and related uses and improvements, located at 2211 North Frontage Road West which is composed of Tract C, Lot 1, Lot 2, and Lot 3 Vail Das Schone Filing No. 1 and Lot 1, Vail Das Schone Filing 3, and setting forth details in regard thereto. (PEC24-0039) This item's attachments can be found with item 3.2 PEC24-0044 Planner: Greg Roy Applicant Name: TNFREF III Bravo Vail LLC represented by Mauriello Planning Group Rediker introduces Items 3.1 and 3.2. The items are heard concurrently. Planner Roy gives a presentation. He walks through the history, site plans, existing conditions, and proposed plans. Roy and commission discuss details of the parking study for the Highline. Lipnick asks about the size of the EHUs in the apartment building. Roy says from 800 sf up to 1200 sf. Rediker asks about the conditional use permit in 2019? Has anything happened with that, does it need to be addressed? Roy says the CUP is still in place, not a requirement of the SDD. Planning and Environmental Commission Meeting Minutes of December 23, 2024 1 726 Rediker says the existing non- existing non-conformities today. Rediker asks about loading and delivery. Roy says the spaces will stay the same, he highlights the two spaces on the site map. The PEC can deviate on the size of the loading spaces. Any future redevelopment will have to conform with that height. Smith asks about housing as a public benefit versus housing as a code standard. Roy talks about commercial linkage and inclusionary zoning. That is not seen generally as a public Smith, four of the units are permanent public benefit, the remainder are temporary until required for a future project. Smith asks how has this proposal changed from the last time? -truck turnaround has a different orientation. Roy says the development plan would come back. The applicant is represented by Dominic Mauriello with Mauriello Planning Group. Maurielloo says in - or different. Mauriello gives a presentation. He talks about the employee housing requirements. He talks about the changes made to the application with the fire code and the fire-resistant landscaping. All of these EHU units are public benefit in recognition of the SDD. Four of those units cannot be banked. the elevator tower on the south which can exceed that per code. Rediker and Mauriello discuss the operation of the valet parking. Mauriello says there will be a controlled area specifically for the valet parking. The valet spaces are enclosed. The EHU building may have its parking within the valet area, to be addressed with a parking management plan. This is also a good location for someone to live without a car. Jensen asks employee housing mitigation. Mauriello talks about the employee housing mitigation bank and how that has been applied in the past. Smith and Mauriello talk about the expirations with the previous approvals. Smith says the West Vail Master Plan recognizes this. She would like further clarification as to the transporation master plan, streetscape plan, and the proposed sidewalk on the north and west of the site. Mauriello, you would extend the sidewalk if something were to happen in the future where it should extend to the property line on the southwest. Planning and Environmental Commission Meeting Minutes of December 23, 2024 2 727 streetscape is a conversation we should have. Smith asks if that conversation can be continued, Roy says it would be best to talk to the Town Engineer for that conversation. Smith asks about the grass product. Mauriello says they thought tit was better than it being asphalt. Smith, the parking lot is currently very lit up. It would be good to address that, especially for the residents of the EHU building. Mauriello says they will be responsive to that concern. Rediker asks about the parking approvals from 2019. Why was it determined that the meeting room space would require zero spots? Mauriello say the parking study showed that the actual utilization was less than the parking requirement. When you took the project wholistically, the conference room was being accommodated give you a more detailed version of that. Rediker asks about the management of the snow storage when the hotel is full of guests. Mauriello Rediker asks about the current snow storage on the south of the building. Mauriello thinks currently some of it happens on the back of the site. Tucker says currently some of it is stored by the pool. Rediker, what was the conversation previously in regard to parking for the EHUs? Roy, it was a mixture of valet and the spaces back there. There are also six spaces on the north side sure there are spaces allocated within the parking plan. to sell the housing site it could create problems. Rediker asks if the enclosed parking is buried. Mauriello, eventually the parking will be seen as being underground. The garage is buried for the majority of the perimeter. Roy talks about previous geohazard studies. There will be a site-specific report for this project with a building permit submittal. Rediker asks for public comment. Molly Reagan, lives in the neighborhood. She wants to talk about quality of life, and the potential for three years of construction traffic on Chamonix Road. They have young children in the area. Appreciate that there is going to be more discussion about what traffic in west Vail looks like. Walkability, and community engagement were goals of the WVMP. This will cause more noise in that neighborhood, the pool at the hotel is already very noisy, would like to talk more about noise as it pertains to the hotel. Construction traffic will only access via Chamonix, which is a big concern for everyone in that neighborhood. Rediker closes public comment. Tucker, everything has been well laid out. Concerned about purchasing a unit where the parking Planning and Environmental Commission Meeting Minutes of December 23, 2024 3 728 there is a condition in there. We need a public process to produce design guidelines and a the sidewalk, but wants to talk to Town Engineer. Lipnick, overall approve of this process. Concerned about the EHU having specific parking spots, Town. Concerned about the neighbors along Chamonix, that their needs are addressed noise, construction, etc.. In general, supports this project, but come back with more specifics. Jensen, his overall view is just reapproving an existing plan with some modest modifications. The EHU in its location will benefit the Chamonix residences, providing shielding from the highway. Encourages provide the most value to the people living there year-round. Hopes that construction access occurs through the property and not Chamonix. - Chamonix, it would be a benefit to have some pedestrian access there, a broader conversation about that would be great. McBride, shares concern about parking, not sure we can continue to make the same assumptions. Understand if the Town and applicant have come to an agreement if this is an extension. Rediker, wants to have a better understanding of the process, the end result might be the same but expansion will there be any extra trash services involved with that? Roy says it may be increasing frequency of service but not expanding. Rediker, all the deviations are reasonable, some are minimal. Want to make sure parking works, in difficulties may arise. We have a reduction in snow storage, and an area that is not conducive to opinion on that. There have been some comments today giving a lot of leeway to the previous approval. no longer managed by the hotel there will need to be dedicated parking. sidewalk, there is a public benefit to that. Brad Hagedorn made a motion to Table to the January 13th, 2025 meeting; Robyn Smith seconded the motion Passed (7 - 0). 3.2 A request for review of an Exterior Alteration, pursuant to Section 12-7J-12, Exterior Alterations or Modifications, Vail Town Code, to allow for a hotel addition and an EHU apartment building, located at 2211 North Frontage Road West which is composed of Tract C, Lot 1, Lot 2, and Lot 3 Vail Das Schone Filing No. 1 and Lot 1, Vail Das Schone Filing 3, and setting forth details in regard thereto. (PEC24-0044) Planning and Environmental Commission Meeting Minutes of December 23, 2024 4 729 Planner: Greg Roy Applicant Name: TNFREF III Bravo Vail LLC, represented by Mauriello Planning Group Staff Memorandum - PEC24-0044 - PEC24-0039.pdf Attachment A. Vicinity Map.pdf Attachment B. Applicant Narrative.pdf Attachment C. McDowell Parking Analysis.pdf Attachment D. Skyline Geoscience Geologic Study.pdf Attachment E. McDowell Transportation Impact Study.pdf Attachment F. Project Plan Set.pdf (Item heard concurrently with 3.1) Brad Hagedorn made a motion to Table to the January 13th, 2025 meeting; Robyn Smith seconded the motion Passed (7 - 0). 3.3 PEC24-0049 - 2000 Vail LLC A request for a recommendation to the Vail Town Council for a zone district boundary amendment, pursuant to Section 12-3-7, Amendment, Vail Town Code, to allow for the rezoning of 2000 Chamonix Lane, Buffehr Creek Resubdivision, Lot 37, from the Two Family Primary/Secondary (PS) District to the West Vail Multi-Family (WVMF) Overlay District. (PEC24-0049) Planner: Heather Knight Applicant Name: 2000 Vail LLC, represented by Current Architects PEC24-0049 Chamonix Rezone Staff Memo.pdf Attachment A. Vicinity Map - Buffer Creek Resub, Lot 37 - 2000 Chamonix Lane.pdf Attachment B. 2000 Chamonix - Applicant Narrative.pdf Attachment C. 2000 Chamonix - survey.pdf Attachment D. 2023-19 Ordinance.pdf 2000 Chamonix Ln Redevelopment - Email1.pdf Planner Knight gives a presentation. She talks about the existing site and surrounding area. She talks about the master plan context. She walks through the zoning summary for the existing and proposed zoning. Hagedorn and Knight discuss the 40% EHU requirement for GRFA. Smith, to clarify if the mitigation amount is above 438 sf, an EHU is required on site. The applicant is represented by Michael Current with Current Architects. He says the property fits what this was intended for. The client was originally planning on building a two -family duplex, but this became an interesting opportunity when this overlay was approved. There are no concrete plans yet, a little more site coverage and GRFA. Jensen asks about the potential parking for the EHU. Current says a three-bedroom unit would require three surface spots, with the new standards there would be room for that. The unit may be about 1,600 sf, the plans are very preliminary. Tucker, will this come back to PEC? Roy, says if recommended it would go to Council for final approval of the rezoning and then DRB. Rediker asks for public comment. They have received public comment that was given to the Planning and Environmental Commission Meeting Minutes of December 23, 2024 5 730 commissioners today. Knight says she had phone conversations with neighbors and the main concerns were about density, bus usage, and increased traffic. Jon and Barbara Kirschner live in the neighnorhood. Jon Kirschner says they are all for redevelopment, Barabara Kirschner says they are in favor of one EHU, maybe even two EHUS, but if it gets up to have been problems in the neighborhood. Very concerned about the seven units, when it gets bigger Jon Kirschner says when they redeveloped their property in 2008 it was built according to code in the county as a 50/50 duplex, then we were informed we had to do primary/secondary split. That should Rediker closes public comment. He asks for commissioner comment. McBride, concerned why we're being asked to vote on something up to 7 units. Hagedorn, this is not binding as to a development plan. It allows for flexibility in granting more GRFA functioning like we intended it to, without the applicant opting in there would be no EHU and it would be a luxury duplex. This shows there is some incentive here. Believes it meets the criteria, makes sure at least one workforce housing unit is preserved on this property. Jensen, like the idea of a three bedroom unit as opposed to one bedroom units, there would be the opportunity for a family to live here. This is what we hoped for with this plan. Lipnick is in support of this. The overlay was proposed for benefiting the residents and workers in West Vail, and this meets the criteria. Smith supports application. This meets the criteria; she concurs with the findings. This is exactly what that neighborhood, an old building gets redeveloped in a way that is good for the community. Doubt anybody could park 7 units, it is self-limiting. what it looks like. Rediker agrees it meets the criteria. Appreciates the public comment, the public can be reassured when we were looking at a lot this size. It could never be a giant parking building on this lot, because of the way the overlay is structured, it is naturally limiting it due to the criteria involved. William A Jensen made a motion to Recommend for approval with the findings on page 12 & 13 of the staff memo; Robyn Smith seconded the motion Passed (7 - 0). 4. Approval of Minutes 4.1 PEC Results 12-9-24 PEC Results 12-9-24.pdf Planning and Environmental Commission Meeting Minutes of December 23, 2024 6 731 (Lipnick abstains) David N Tucker made a motion to Approve ; Brad Hagedorn seconded the motion Passed (6 - 0). 5. Information Update 6. Adjournment Robyn Smith made a motion to Adjourn ; David N Tucker seconded the motion Passed (7 - 0). Planning and Environmental Commission Meeting Minutes of December 23, 2024 7 732 Planning and Environmental Commission Minutes Monday, January 13, 2025 1:00 PM Vail Town Council Chambers Present: David N Tucker William A Jensen Robert N Lipnick John Rediker Scott P McBride Brad Hagedorn Robyn Smith Absent: 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 review of a variance from Section 14-10-9 Fences, Hedges, Walls and Screening, Vail Town Code, pursuant to Title 12 Chapter 17, Variances, Vail Town Code to allow for a fence to exceed six feet in height, located at 540 S Frontage Road E, Unplatted - Ford Park Amphitheater (PEC24-0051) Planner: Jamie Leaman-Miller Applicant Name: Vail Valley Foundation represented by Zehren and Associates PEC24-0051 Staff Memo.pdf A. Vicinity Map.pdf B. Applicant Narrative.pdf C. PEC24-0051 Plans.pdf 01:09 into meeting: Planner Leaman-Miller gives a presentation on the application. Goes over the requested variance. Shows pictures from around the proposed fence location. No trees are proposed to be removed as a result of the proposed work. Amphitheater management and Vail Police Department have security concerns from the existing six-foot fence, which is why the variance is requested to go up to eight feet in height. Staff is recommending approval of the application. No questions for staff. Pedro Campos from Zehren & Associates is representing the Vail Valley Foundation. Fence would be changing to a steel fence that would be more durable. Goes over the process of getting to this design and how it will be similar to the Dillon Amphitheater. Rediker asks about the construction of the fence. Planning and Environmental Commission Meeting Minutes of January 13, 2025 1 733 Campos goes over the eight-foot interval between foundational pieces to secure rest of the fence. It will go in the same place as existing, but tighter intervals. Posts will be hand dug and will need to go six inches below frost line. Hagedorn asks about the height, the top pieces and if they will be spikes that could endanger wildlife. They want to have the pickets above the top rail, but they will not be sharp. Smith asks about the spikes; she has the same concerns as Hagedorn regarding something or someone being impaled. Hagedorn asks about the height of the pickets. Campos says they are two inches above the top rail. Lipnick asks how they came to the decision of six feet compared to eight feet and why. Campos states that it was a recommendation of the VPD to go up to that height. That is what they suggested. Smith does not support the height with the pickets above the rail. Does not feel safe. Campos notes that concern. McBride says this could prevent people from getting out in an emergency. Would like to hear about that. Campos says that there were some emergency evacuations gates that were added a few years ago. These would be replaced with this project. That also has emergency lighting. Rediker asks where those egress points are around the fence perimeter. Rediker who has attended events there knew about east and west gates but not other emergency exits. Would like that called to the attention of the public that there are other options. Smith asks how they are activated if needed in an emergency. Campos says they are automatically locked or unlocked in the case of an emergency. There is also additional security during ticketed events to usher users to those exits in the case of an emergency. Rediker wants to confirm that the new fence would follow the same path. Campos confirms. Smith has concerns about the pickets and would like to condition the application that the top rail be flat. Rediker asks staff if that is something the PEC can look at or if it should be left to the DRB. Planning Manager Roy answers that it is a design element that is best left to the DRB, but the safety concern is valid. No public comment. Hagedorn recommends that there is flat bar on the top of the fence. Jensen echoes that concern. Lipnick agrees. Eight feet ok but would like a flat top. Planning and Environmental Commission Meeting Minutes of January 13, 2025 2 734 Smith agrees. There are plenty of fences in Ford Park above eight feet. Would like to see the motion Tucker agrees with all. Rediker understands the concerns. Fully respects the point that the penalty for breaking the law should not be landing on a metal picket. Current fence is easy to get over and has seen it. There could be others with ill intent that could scale it as well. Making it taller will make it more difficult to scale. They should have security on the interior of the fence patrolling it to make sure no one gets in there. Believes criteria is met and this is a safety issue. Jensen adds that this is the height being voted on and DRB should input on design. causing bodily harm if they try to scale. Recommends the DRB to look at a flat top rail. Robert N Lipnick made a motion to Approve with the condition on page 6 and the findings on page 6 & 7 of the staff memo; William A Jensen seconded the motion Passed (6 - 1). Voting For: William A Jensen, Robert N Lipnick, Brad Hagedorn, John Rediker, Scott P McBride, David N Tucker Voting Against: Robyn Smith 3.2 A request for review of a variance from Section 12-6D-8B, Gross Residential Floor Area, Vail Town Code, pursuant to Title 12 Chapter 17, Variances, Vail Town Code to allow for an increase in the allowable Gross Residential Floor Area (GRFA) within the Two-Family Primary/Secondary Zone District located at 387 Beaver Dam Circle, Lot 1A, Block 4, Vail Village 3rd Filing (PEC24-0048). Planner: Heather Knight Applicant Name: AB Global Inc, represented by Mauriello Planning Group PEC24-0048 GRFA Variance staff memo.pdf Attachment A. Vicinity Map.pdf Attachment B. Applicant Narrative.pdf Attachment C. 2011 Plan Set.pdf Attachment D. Title Report.pdf 387 Beaver Dam PEC Applicant Presentation 1-13- 25.pdf 01:29:33 into meeting: Planner Knight gives a presentation. She talks about the history of the property. Major remodels were completed on one half in 2011 and the second half in 2014, maxing out the GRFA for the property. In 2023, a building permit identified some discrepancies. Rediker asks about the definition of crawl space. Knight says its below five feet in height, per code. Planning Manager Roy adds that, for it to not count, the ceiling height is five feet or less, and opening is less than twelve square feet. Knight runs through the GRFA calculations. She talks about the variance criteria, staff is recommending denial as it is not meeting the criteria. Jensen, are there consequences to contractors for unpermitted work? Planning and Environmental Commission Meeting Minutes of January 13, 2025 3 735 Roy, at the end of the days it is on the property owner to make sure their property is in compliance, the Town is unable to hold contractors specifically responsible for this. Smith, there is wetland close by here, at some point there was limitation on the amount of excavation here. What happens if the variance is denied, how is this converted back? Knight says they would need to conform to the GRFA limits set. Smith asks how does this happen? Knight says they are not aware of how this came to be. Smith, if this were accepted as GRFA, would there need to be additional excavation to allow for window wells? egress because it is not a bedroom. Lipnick asks if the areas in question are on the lowest level. Knight says we look at the structure as a whole, there is a level that is lower than these. The applicant is represented by Dominic Mauriello with Mauriello Planning Group. Their client bought the house as is, without the knowledge that there were spaces that were added illegally. This is a huge issue for the owner, they are also pursuing legal actions on the private side. We are exhausting our town here, but there are extenuating circumstances here, look at this more as a case-by-case basis. you should get the deduction, we're trying to prevent people getting two floors deductions. If the owner two years before the change in GRFA calculation. Mauriello says it looks like a storage room right now, one of the complicating factors is that there is mechanical space in the back of it. There has been a web of different changes to the code since this property was constructed. The secondary units in th from the changes to code that allowed more GRFA. Mauriello talks about the evolution of GRFA in the Town. He addresses the variance criteria. Tucker asks about the idea that rebuilding would grant more floor space? Would that even be possible with wetland restrictions? Mauriello, it is a horizontal line, not a vertical line. There are not impacts to wetlands to his knowledge. Jensen, troubled that this was done illegally and if the PEC approved it, that would give license to others to do it. Your arguments are significant, but as the PEC its hard to weigh in. Would like to see this go in front of Town Council and let them address the questions about GRFA. McBride asks when did the applicant first contact the Town to figure out there was an issue? Mauriello says long after purchase. They submitted building permit plans, not knowing this space was done illegally. Had it been disclosed by the seller, it would have been a different situation, the Planning and Environmental Commission Meeting Minutes of January 13, 2025 4 736 McBride, what happens if the applicant gets a variance and wins the court case? Rediker, does the client agree that under current code for GRFA their residence exceeds the allowable? Mauriello confirms. Rediker says this GRFA is not conforming unless it was granted a variance. McBride, how long did it take to an answer from the Town? interior work. Mauriello says they had no reason to understand that there may be unpermitted additions. He talks about another case on Potato Patch. Mauriello says we are to the extent that the hardship is to give fair and equal treatment to a building with a stepped foundation against a new build. Rediker, your client is asking us to resolve a lawsuit. He has sympathy for their situation, but are they asking the PEC to rectify the situation? Maureillo, when we took a step back, forgetting about the fraudulent situation, could you recognize the law given these circumstances. Rediker, is the inequity with the code or because of how the house was constructed? Mauriello, the house was built before the basement deduction came into effect. People doing new builds are able to realize more square footage through that. exempt it could move forward. Smith clarifies that improvements should not exacerbate a non-conformity? Knight confirms. Smith says granting this variance would increase the non-conformity. Roy talks about the difference between illegal and legal non-conformities. Tucker asks about the building permit. Knight and Tucker discuss the code considerations. Hagedorn, what is the status of the home currently? Knight, it is occupiable, the remodel application has been stopped. McBride, not sure this is the right vehicle for us to address this. Rediker ask for public comment. There is none. Rediker asks for commissioner comment. Hagedorn, agrees GRFA definition is broken, supports a redesign of how it's spelled out, right not it Planning and Environmental Commission Meeting Minutes of January 13, 2025 5 737 incentivizes blowing out a site. Would be in support of redefining that, wants to prevent three stories of subterranean living space like we've seen in peer communities. At the same time, that is the best path for your client to resolve this. We are not a policy setting body, that is council. Within that context, do see this variance as a special privilege. The seller misrepresented at the sale, this is turning to the PEC for remedy activities as a hardship. We would not grant a GRFA variance with a new build, this meets criteria one and three but fails two. the request. support it. Smith, concurs with others. The applicant is a victim, the community is also the victim. Limiting the size of a residence is necessary, the applicant is not being penalized the property just needs to come into conformity. If the GRFA rules are not creating the desired outcomes, we should amend those rules, there is a process that is not the variance criteria. The variance would be a grant of special privilege, if ree criteria. Tucker, because it is case-by-case, if the opposite end is rebuilding just to maximize GRFA, then granting some additional storage space would be allowable. McBride, this is a private property dispute, concerned about the precedent, maybe not legal precedent, but just because somebody gets a raw deal they can now benefit from that. Sorry the owners had to deal with that, hopefully there is recourse in the courts. This could have been easily remedied at the time of purchase by contacting the Town of Vail. Rediker, we had an excellent presentation by the applicant, sympathetic to the applicant and their situation. But we're looking at the variance criteria, one and two are not met. This would be a grant of special privilege, no other properties would be give after the fact by allowing the victim to seek redress here. The recourse for the applicant is civil action. appropriate forum to settle the dispute. Hagedorn says the buyers are enjoying use of the property currently, nothing is stopping them from that. William A Jensen made a motion to Deny with the findings on page 13-14; Robyn Smith seconded the motion Passed (6 - 1). Voting For: William A Jensen, Robert N Lipnick, Robyn Smith, Brad Hagedorn, John Rediker, Scott P McBride Voting Against: David N Tucker 3.3 A request for a recommendation to the Vail Town Council of an application to reestablish Special Development District No. 43, pursuant to Section 12 -9(A), Special Development Districts, Vail Town Code, to allow for the development of a hotel addition, add conference space and an employee housing apartment building, and related uses and improvements, located at 2211 North Frontage Road West which is composed of Tract C, Lot 1, Lot 2, and Lot 3 Vail Das Schone Filing No. 1 and Lot 1, Vail Das Schone Filing 3, and setting forth details in regard thereto. (PEC24-0039) This item's attachments can be found with item 3.2 PEC24-0044 Planner: Greg Roy Planning and Environmental Commission Meeting Minutes of January 13, 2025 6 738 Applicant Name: TNFREF III Bravo Vail LLC represented by Mauriello Planning Group 31:00 into meeting: Planner Roy gives a presentation. He walks through the vicinity map, the history of the property, and the applications being looked at today. He walks through the existing conditions and the proposal. He talks about the deviations with the SDD, the proposed conditions, and about the sidewalks and the context of the master plan. He talks about the proposed employee housing on the site. Hagedorn asks about the sidewalk. Roy says the Town Engineer recommends the sidewalk stays in the plan, because of the increased density and use south of Chamonix, to prepare it for future use. The applicant is represented by Dominic Mauriello with Mauriello Planning Group. Smith and Mauriello discuss types of sidewalks. Smith asks if the fire truck pullout will be maintained in the winter. Roy says it will need to be maintained. Smith & Roy discuss possible sidewalk configurations and possible access to the west. Smith says a lot of this is a separate conversation from the application as far as public way improvements. Tucker asks about possible speed control coming out of the roundabout, especially with increased pedestrian traffic. Discussion about a potential condition related to the infrastructure around the project. Jensen would like to hear more from public works. Smith, can we ask the applicant to include a condition that all exterior lighting shall be full cutoff? Roy says Town Code is full cutoff, they could ask the applicant if they want to go beyond that as far as limiting the lumens. Mauriello talks about the history of the site, the Town previously approved the SDD on two separate occasions by ordinance. The deviations being requested were also previously approved. Mauriello says they would be happy with condition that the applicant shall provide two pedestrian sidewalk connections to Chamonix lane subject to DRB approval. He talks about the geotechnical report. He talked to the hotel who lowered the lights, and they will fully address this by January 25th. They will meet Town Code, which is full cutoff. Smith, the concern is the lighting near the EHU building. Mauriello, that condition is fine and it should be addressed by February. Mauriello presents about the snow management plan. He talks about the parking study for the project. With the West Vail Master Plan, they are even more consistent with the master plan at this point. there but there may need to be some engineering details to be worked out. There has been mitigation work done north of Chamonix to address this as well. Planning and Environmental Commission Meeting Minutes of January 13, 2025 7 739 Rediker asks about the relief for the height on the existing building. The buildings that are being built comply with PA-2? Mauriello confirms. Mauriello says all the lighting is required to be cutoff so a lighting condition is not necessary. Rediker asks for public comment, there is none. Public comment closed. Rediker asks for commissioner comment. Tucker, the applicant put together a good plan and addressed our concerns. Smith, the staff memo details all the thought and requirements that went into this approval the first time around. Being able to look back and see how it met the criteria, confident that each of the criteria are met. Advocates to add a condition about the sidewalks. For the public, there is a lot improvement that can be made to the public works part of it, but the public that cares about this making on one applicant, as far as this concerned, good to go. Lipnick, the applicant has answered our questions from last meeting. Supports the project, including the employee housing. Jensen, thanks applicants for addressing parking for the EHUs. Supports proposal, the parking study validates the parking plan. Feels good about this project because it anchors the west end, start of the west vail redevelopment. Hagedorn, fine with parking proposal as presented, appreciates the EHU parking. There is strong -trade approvals, there's responsibility to respect the work that has been done previously. Even without that, it meets the criteria set forth. McBride, agrees with Smith and Hagedorn, in support. Rediker, agrees with commissioners. Not just this commission, but the prior discussions that have everything here and are making our own decision, but do respect the prior thought that went into William A Jensen made a motion to Recommend for approval with the findings on page 27 ; Robyn Smith seconded the motion Passed (7 - 0). 3.4 A request for review of an Exterior Alteration, pursuant to Section 12-7J-12, Exterior Alterations or Modifications, Vail Town Code, to allow for a hotel addition and an EHU apartment building, located at 2211 North Frontage Road West which is composed of Tract C, Lot 1, Lot 2, and Lot 3 Vail Das Schone Filing No. 1 and Lot 1, Vail Das Schone Filing 3, and setting forth details in regard thereto. (PEC24-0044) Planner: Greg Roy Applicant Name: TNFREF III Bravo Vail LLC, represented by Mauriello Planning Group Staff Memorandum - PEC24-0039 & 0044.pdf Attachment A. Vicinity Map.pdf Attachment B. Applicant Narrative 1-3-25.pdf Attachment C. McDowell Parking Analysis.pdf Attachment D. Skyline Geoscience Geologic Study.pdf Planning and Environmental Commission Meeting Minutes of January 13, 2025 8 740 Attachment E. McDowell Transportation Impact Study.pdf Attachment F. Project Plan Set.pdf Attachment G. PEC Meeting Minutes 12-23-24.pdf This item heard concurrently with 3.3 Robyn Smith made a motion to Approve with the conditions on pages 28 and 29 and the findings on page 29 and the added condition that the applicant shall provide two western sidewalk connections to Chamonix Road; William A Jensen seconded the motion Passed (7 - 0). 4. Approval of Minutes Robert N Lipnick made a motion to Approve ; Robyn Smith seconded the motion Passed (7 - 0). 4.1 PEC Results 12-23-24 PEC Results 12-23-24.pdf 5. Information Update Planner Roy passes along a notice from the Environmental Department about a water rights meeting happening on that Tuesday at CMC in Edwards. Planner Roy notes that there were 55 PEC applications in 2024 compared to the 2022 and 2023 average of 30 PEC applications. Thanks the Commission for their time and effort. Smith asked about a news blast that said the PEC granted a variance for a fence out in Matterhorn and didn't remember a fence coming before the Commission. Planner Roy clarifies that it was a DRB application and was not a variance. He gives a summary of the application and the process. It did not come before the PEC. 6. Adjournment David N Tucker made a motion to Adjourn ; William A Jensen seconded the motion Passed (7 - 0). Planning and Environmental Commission Meeting Minutes of January 13, 2025 9 741 TO: Planning and Environmental Commission FROM: Community Development Department DATE: January 13, 2025 SUBJECT: A request for a recommendation to the Vail Town Council of an application to reestablish Special Development District No. 43, pursuant to Section 12-9(A), Special Development Districts, Vail Town Code, to allow for the development of a hotel addition, add conference space and an employee housing apartment building, and related uses and improvements, located at 2211 North Frontage Road West/ Highline Subdivision Lot 1 and Lot 2 A resubdivision of Tract C, Lot 1, Lot 2, and Lot 3 Vail Das Schone Filing No. 1 and Lot 1, Vail Das Schone Filing 3, and setting forth details in regard thereto. (PEC24-0039) A request for review of an Exterior Alteration, pursuant to Section 12-7J- 12, Exterior Alterations or Modifications, Vail Town Code, to allow for a hotel addition and an EHU apartment building, located at 2211 North Frontage Road West/ Highline Subdivision Lot 1 and Lot 2 A resubdivision of Tract C, Lot 1, Lot 2, and Lot 3 Vail Das Schone Filing No. 1 and Lot 1, Vail Das Schone Filing 3, and setting forth details in regard thereto. (PEC24-0044) Applicant: TNFREF III Bravo Vail LLC, represented by Mauriello Planning Group Planner: Greg Roy I. SUMMARY SPECIAL DEVELOPMENT DISTRICT The applicant, TNFREF lll Bravo Vail LLC, represented by Mauriello Planning Group, is requesting a recommendation to the Vail Town Council to reestablish Special Development District No. 43, pursuant to Section 12-9(A), Special Development Districts, Vail Town Code, to allow for the development of a hotel addition, add conference space and an employee housing apartment building, and related uses and 742 Town of Vail Page 2 improvements, located at the property of 2211 N. Frontage Road West/ Highline Subdivision Lot 1 and Lot 2 A resubdivision of Tract C, Lot 1, Lot 2, and Lot 3 Vail Das Schone Filing No. 1 and Lot 1, Vail Das Schone Filing 3. d in Section VlI of this memorandum and the evidence and testimony presented, the Community Development Department recommends the Planning and Environmental Commission forward a recommendation of approval to the Vail Town Council to reestablish a Special Development District. EXTERIOR ALTERATION The applicant, TNFREF lll Bravo Vail LLC, represented by Mauriello Planning Group, is requesting approval of an Exterior Alteration, pursuant to Section 12-7J-12, Exterior Alterations or Modifications, Vail Town Code, to allow for a hotel addition and an EHU apartment building located at the property of 2211 N. Frontage Road West/ Highline Subdivision Lot 1 and Lot 2 A resubdivision of Tract C, Lot 1, Lot 2, and Lot 3 Vail Das Schone Filing No. 1 and Lot 1, Vail Das Schone Filing 3. I of this memorandum and the evidence and testimony presented, the Community Development Department recommends the Planning and Environmental Commission approve, with conditions II. DESCRIPTION OF REQUEST The applicant, TNFREF III Bravo Vail LLC represented by Mauriello Planning Group is requesting a recommendation to the Vail Town Council of an application to reestablish Special Development District No. 43 (Highline Double Tree), pursuant to Section 12-9-A Special Development (SDD) District, Vail Town Code, and a final review for an exterior alteration, pursuant to Section 12-7J-12, Exterior Alterations or Modifications, Vail Town Code to allow for the development of a hotel addition and EHU apartment building, and related uses and improvements, located at 2211 North Frontage Road West / Highline Subdivision Lot 1 and Lot 2 A resubdivision of Tract C, Lot 1, Lot 2, and Lot 3 Vail Das Schone Filing No. 1 and Lot 1, Vail Das Schone Filing 3. The proposal would add a new wing to the hotel in the western corner of the site. The ground floor of this building would include parking and a conference space with three levels of hotel rooms above. In addition, a 15 unit employee housing building is proposed on the farthest northern side of the property which has been subdivided into a separate lot that faces Chamonix Lane. To accommodate these additions, the following changes are proposed to the site: The parking lot would be restriped to include valet parking. New landscaping would be added around the building. A sidewalk along Chamonix Lane and Road would be constructed. 743 Town of Vail Page 3 A loading zone parking space would be added in front of the EHU building on Chamonix Lane. The primary access points on the site would be the same as exists today. The vicinity map (Attachment A), applicant narrative (Attachment B), McDowell Parking Analysis (Attachment C), Skyline Geoscience Geologic Study, (Attachment D), McDowell Transportation Impact Study (Attachment E), project plan set (Attachment F) and 12-23-24 PEC Meeting Minutes (Attachment G) are attached for review. II. BACKGROUND In 1980, the hotel was built in the County and was annexed into the town per Ordinance No. 43, Series 1980 and then zoned CC3 within the required ninety days. The Ordinance was later overturned by the Colorado Court of Appeals due to a lack of contiguity. It was then annexed again with Ordinance No. 1, Series 1986 and was again zoned CC3 with Ordinance No. 10, Series of 1986. Over time, there have been multiple applications for small remodels or exterior alterations. In 2016, there was an exterior alteration that allowed for restriping of the parking lot, pool upgrades, and exterior facade upgrades to the building. In 2019, the applicant submitted applications for a rezoning from Commercial Core 3 to Public Accommodation 2, a Special Development District application to create a new SDD, a minor subdivision to create the two lots, a conditional use permit for commercial and a major exterior alteration application for the building additions and EHU building. SDD No. 43 was recommended for approval by the PEC on April 13, 2020 and was established by Ordinance No. 4, Series of 2020 in June of 2020. On that same day, Ordinance No. 3, Series of 2020 approved the zone district change as well. Per Town Code Section 12-9A-12 Time Requirements, SDD approval is only valid for three years, during which time, initial construction must be started and be diligently pursued. SDD No. 43 had an approval good through June 2023. However, in March of 2021 during the COVID pandemic, the applicants submitted a Major SDD Amendment to phase the project and extend the approval timeline. The project was proposed to have a Phase 1 of the employee housing apartment building, and the hotel related improvements would be Phase 2. With this change, via Ordinance No. 16, Series of 2021, the approval was extended to September of 2024. During that period, the plat was recorded separating the parcel for the EHU building, and there were improvements to the property such as a new elevator tower to accompany the stairs in the southeast portion of the lot and the offices on the second floor were converted to an employee dormitory. The PEC initially reviewed these applications at the December 23, 2024 PEC meeting. Minutes from that meeting are attached for review. 744 Town of Vail Page 4 III. APPLICABLE PLANNING DOCUMENTS Staff believes that following provisions of the Vail Land Use Plan, the Vail Village Master Plan and the Vail Town Code are relevant to the review of this proposal: ARTICLE A. SPECIAL DEVELOPMENT (SDD) DISTRICT 12-9A-1: PURPOSE AND APPLICABILITY: A. Purpose: The purpose of the special development district is to encourage flexibility and creativity in the development of land in order to promote its most appropriate use; to improve the design character and quality of the new development with the town; to facilitate the adequate and economical provision of streets and utilities; to preserve the natural and scenic features of open space areas; and to further the overall goals of the community as stated in the Vail comprehensive plan. An approved development plan for a special development district, in conjunction with 745 Town of Vail Page 5 the property's underlying zone district, shall establish the requirements for guiding development and uses of property included in the special development district. B. Applicability: Special development districts do not apply to and are not available in the following zone districts: hillside residential, single-family residential, two-family residential and two-family primary/secondary residential. (Ord. 29(2005) § 26: Ord. 9(1994) § 1: Ord. 21(1988) § 1) 12-9A-2: DEFINITIONS: AFFECTED PROPERTY: Property within a special development district that, by virtue of its proximity or relationship to a proposed amendment request to an approved development plan, may be affected by redesign, density increase, change in uses, or other modifications changing the impacts, or character of the approved special development district. AGENT OR AUTHORIZED REPRESENTATIVE: Any individual or association authorized or empowered in writing by the property owner to act on his (her) stead. If any of the property to be included in the special development district is a condominiumized development, the pertinent condominium association may be considered the agent or authorized representative for the individual unit owners if authorized in conformity with all pertinent requirements of the condominium association's declarations and all other requirements of the condominium declarations are met. MAJOR AMENDMENT (PEC AND/OR COUNCIL REVIEW): Any proposal to change uses; increase gross residential floor area; change the number of dwelling or accommodation units; modify, enlarge or expand any approved special development district (other than "minor amendments" as defined in this section), except as provided under section 12-15-4, "Interior Conversions", or 12-15-5, "Additional Gross Residential Floor Area (250 Ordinance)", of this title. MINOR AMENDMENT (STAFF REVIEW): Modifications to building plans, site or landscape plans that do not alter the basic intent and character of the approved special development district, and are consistent with the design criteria of this article. Minor amendments may include, but not be limited to, variations of not more than five feet (5') to approved setbacks and/or building footprints; changes to landscape or site plans that do not adversely impact pedestrian or vehicular circulation throughout the special development district; or changes to gross floor area (excluding residential uses) of not more than five percent (5%) of the approved square footage of retail, office, common areas and other nonresidential floor area, except as provided under section 12-15-4, 746 Town of Vail Page 6 "Interior Conversions", or 12-15-5, "Additional Gross Residential Floor Area (250 Ordinance)", of this title. UNDERLYING ZONE DISTRICT: The zone district existing on the property, or imposed on the property at the time the special development district is approved. The following zone districts are prohibited from special development districts being used: hillside residential, single-family residential, two-family residential, two-family primary/secondary residential. (Ord. 29(2005) § 26: Ord. 13(1997) § 2: Ord. 9(1994) § 2: Ord. 21(1988) § 1) 12-9A-4: DEVELOPMENT REVIEW PROCEDURES: A. Approval Of Plan Required: Prior to site preparation, building construction, or other improvements to land within a special development district, there shall be an approved development plan for said district. The approved development plan shall establish requirements regulating development, uses and activity within a special development district. B. Preapplication Conference: Prior to submittal of a formal application for a special development district, the applicant shall hold a preapplication conference with the department of community development. The purpose of this meeting shall be to discuss the goals of the proposed special development district, the relationship of the proposal to applicable elements of the town's comprehensive plan, and the review procedure that will be followed for the application. C. PEC Conducts Initial Review: The initial review of a proposed special development district shall be held by the planning and environmental commission at a regularly scheduled meeting. Prior to this meeting, and at the discretion of the administrator, a work session may be held with the applicant, staff and the planning and environmental commission to discuss special development district. A report of the department of community development staff's findings and recommendations shall be made at the initial formal hearing before the planning and environmental commission. Within twenty (20) days of the closing of a public hearing on a proposed amendment, the planning and environmental commission shall act on the petition or proposal. The commission may recommend approval of the petition or proposal as initiated, may recommend approval with such modifications as it deems necessary to accomplish the purposes of this title, or may recommend denial of the petition or rejection of the proposal. The commission shall transmit its recommendation, together with a report on the public hearing and its deliberations and findings, to the town council. D. Town Council Review: A report of the planning and environmental commission stating its findings and recommendations, and the staff report shall then be transmitted to the town council. Upon receipt of the report and recommendation of the planning and environmental commission, the town council shall set a date for 747 Town of Vail Page 7 hearing within the following thirty (30) days. Within twenty (20) days of the closing of a public hearing on a proposed SDD, the town council shall act on the petition or proposal. The town council shall consider but shall not be bound by the recommendation of the planning and environmental commission. The town council may cause an ordinance to be introduced to create or amend a special development district, either in accordance with the recommendation of the planning and environmental commission or in modified form, or the council may deny the petition. If the council elects to proceed with an ordinance adopting an SDD, the ordinance shall be considered as prescribed by the Vail town charter. (Ord. 29(2005) § 26: Ord. 21(1988) § 1) 12-9A-6: DEVELOPMENT PLAN: An approved development plan is the principal document in guiding the development, uses and activities of special development districts. A development plan shall be approved by ordinance by the town council in conjunction with the review and approval of any special development district. The development plan shall be comprised of materials submitted in accordance with section 12-9A-5 of this article. The development plan shall contain all relevant material and information necessary to establish the parameters with which the special development district shall develop. The development plan may consist of, but not be limited to, the approved site plan, floor plans, building sections and elevations, vicinity plan, parking plan, preliminary open space/landscape plan, densities and permitted, conditional and accessory uses. (Ord. 29(2005) § 26: Ord. 21(1988) § 1) 12-9A-7: USES: Determination of permitted, conditional and accessory uses shall be made by the planning and environmental commission and town council as a part of the formal review of the proposed development plan. Unless further restricted through the review of the proposed special development district, permitted, conditional and accessory uses shall be limited to those permitted, conditional and accessory uses in a property's underlying zone district. Under certain conditions, commercial uses may be permitted in residential special development districts if, in the opinion of the town council, such uses are primarily for the service and convenience of the residents of the development and the immediate neighborhood. Such uses, if any, shall not change or destroy the predominantly residential character of the special development district. The amount of area and type of such uses, if any, to be allowed in a residential special development district shall be established by the town council as a part of the approved development plan. (Ord. 29(2005) § 26: Ord. 21(1988) § 1) 12-9A-8: DESIGN CRITERIA AND NECESSARY FINDINGS: A. Criteria: The following design criteria shall be used as the principal criteria in evaluating the merits of the proposed special development district. It shall be the 748 Town of Vail Page 8 burden of the applicant to demonstrate that submittal material and the proposed development plan comply with each of the following standards, or demonstrate that one or more of them is not applicable, or that a practical solution consistent with the public interest has been achieved: 1. Compatibility: Design compatibility and sensitivity to the immediate environment, neighborhood and adjacent properties relative to architectural design, scale, bulk, building height, buffer zones, identity, character, visual integrity and orientation. 2. Relationship: Uses, activity and density which provide a compatible, efficient and workable relationship with surrounding uses and activity. 3. Parking And Loading: Compliance with parking and loading requirements as outlined in chapter 10 of this title. 4. Comprehensive Plan: Conformity with applicable elements of the Vail comprehensive plan, town policies and urban design plans. 5. Natural And/Or Geologic Hazard: Identification and mitigation of natural and/or geologic hazards that affect the property on which the special development district is proposed. 6. Design Features: Site plan, building design and location and open space provisions designed to produce a functional development responsive and sensitive to natural features, vegetation and overall aesthetic quality of the community. 7. Traffic: A circulation system designed for both vehicles and pedestrians addressing on and off site traffic circulation. 8. Landscaping: Functional and aesthetic landscaping and open space in order to optimize and preserve natural features, recreation, views and function. 9. Workable Plan: Phasing plan or subdivision plan that will maintain a workable, functional and efficient relationship throughout the development of the special development district. B. Necessary Findings: Before recommending and/or granting an approval of an application for a special development district, the planning and environmental commission and the town council shall make the following findings with respect to the proposed SDD: 1. That the SDD complies with the standards listed in subsection A of this section, unless the applicant can demonstrate that one or more of the standards 749 Town of Vail Page 9 is not applicable, or that a practical solution consistent with the public interest has been achieved. 2. That the SDD is consistent with the adopted goals, objectives and policies outlined in the Vail comprehensive plan and compatible with the development objectives of the town; and 3. That the SDD is compatible with and suitable to adjacent uses and appropriate for the surrounding areas; and 4. That the SDD promotes the health, safety, morals, and general welfare of the town and promotes the coordinated and harmonious development of the town in a manner that conserves and enhances its natural environment and its established character as a resort and residential community of the highest quality. (Ord. 29(2005) § 26: Ord. 21(1988) § 1) 12-9A-9: DEVELOPMENT STANDARDS: Development standards including lot area, site dimensions, setbacks, height, density control, site coverage, landscaping and parking shall be determined by the town council as part of the approved development plan with consideration of the recommendations of the planning and environmental commission. Before the town council approves development standards that deviate from the underlying zone district, it should be determined that such deviation provides benefits to the town that outweigh the adverse effects of such deviation. This determination is to be made based on evaluation of the proposed special development district's compliance with the design criteria outlined in section 12-9A-8 of this article. (Ord. 29(2005) § 26: Ord. 21(1988) § 1) 12-9A-10 AMENDMENT PROCEDURES. (A) Minor amendments. (1) 12- 9A-2 of this article, may be approved by the Department of Community Development. All minor modifications shall be indicated on a completely revised development plan. Approved changes shall be noted, signed, dated and filed by the Department of Community Development. (2) Notification of a proposed minor amendment, and a report of staff action of said request, shall be provided to all property owners within and adjacent to the Special Development District that may be affected by the amendment. Affected properties shall be as determined by the Department of Community Development. Notifications shall be postmarked no later than five days following staff action on the amendment request and shall include a brief statement describing the amendment and the time and date of when the Planning and Environmental Commission will be informed of the administrative 750 Town of Vail Page 10 action. In all cases the report to the Planning and Environmental Commission requested amendment. (3) Appeals of staff decisions may be filed by adjacent property owners, owners of property within the Special Development District, the applicant, Planning and Environmental Commission members or members of the Town Council as outlined in § 12-3-3 of this title. (B) Major amendments. (1) Requests for major amendments to an approved Special Development District shall be reviewed in accordance with the procedures described in § 12-9A-4 of this article. (2) Owners of all property requesting the amendment, or their agents or authorized representatives, shall sign the application. Notification of the proposed amendment shall be made to owners of all property adjacent to the property requesting the proposed amendment, owners of all property adjacent to the Special Development District, and owners of all property within the Special Development District that may be affected by the proposed amendment (as determined by the Department of Community Development). Notification procedures shall be as outlined in § 12-3-6(C) of this title. (Ord. 21(1988) § 1; Ord. 29(2005) § 26) § 12-9A-11 RECREATION AMENITIES TAX. A recreation amenities tax shall be assessed on all Special Development Districts in accordance with Title 2, Chapter 5 of this code at a rate to be determined by the Town Council. This rate shall be based on the rate of the underlying zone district or the rate which most closely resembles the density plan for the zone district, whichever is greater. (Ord. 21(1988) § 1; Ord. 29(2005) § 26) § 12-9A-12 TIME REQUIREMENTS. (A) Start of construction; completion. The developer must begin initial construction of the Special Development District within three years from the time of its final approval, and continue diligently toward the completion of the project. If the Special Development District is to be developed in phases, the developer must begin construction of subsequent phases within one year of the completion of the previous phase. (B) Approval voided. If the applicant does not begin and diligently work toward the completion of the Special Development District or any stage of the Special Development District within the time limits imposed by the preceding subsection (A), the approval of said Special Development District shall be void. The Planning and Environmental Commission and Town Council shall review the Special Development District upon submittal of an application to reestablish the Special Development District following the procedures outlined in § 12-9A-4 of this article. 751 Town of Vail Page 11 (Ord. 21(1988) § 1; Ord. 29(2005) § 26) § 12-9A-14 EXISTING SPECIAL DEVELOPMENT DISTRICTS. Nothing in this article shall be construed to limit, replace or diminish the requirements, responsibilities and specifications of Special Development Districts 2 through 21. The Town Council specifically finds that said Special Development Districts 2 through 21 shall remain in full force and effect, and the terms, conditions and agreements contained therein shall continue to be binding upon the applicants thereof and the town. These SDDs, if not commenced at the present time, shall comply with § 12-9A-12 of this article. (Ord. 21(1988) § 1; Ord. 29(2005) § 26) ARTICLE J. PUBLIC ACCOMMODATION-2 (PA-2) DISTRICT 12-7J-1: PURPOSE: The public accommodation-2 district is intended to provide sites for lodges, limited service lodges, and residential accommodations on a short term basis, for visitors and guests, together with such public and semipublic facilities and commercial/retail and related visitor oriented uses as may be appropriately located within the same zone district and compatible with adjacent land uses. This district is intended to provide for lodging sites located outside the periphery of the town's Vail Village and Lionshead commercial core areas. The public accommodation-2 district is intended to ensure adequate light, air, open space, and other amenities commensurate with lodge uses, and to maintain the desirable resort qualities of the zone district by establishing appropriate site development standards. Additional nonresidential uses are allowed as conditional uses which enhance the nature of Vail as a vacation community, and where permitted uses are intended to function compatibly with the high density lodging character of the zone district. (Ord. 2(2006) § 2) 12-7J-2: PERMITTED USES: The following uses shall be permitted in the PA-2 district: Employee housing units, as further regulated by chapter 13 of this title. Limited service lodge, including accessory eating, drinking, or retail establishments located within the principal use and not occupying more than ten percent (10%) of the total gross residential floor area of the main structure or structures on the site; additional accessory dining areas may be located on an outdoor deck, porch, or terrace. Lodges, including accessory eating, drinking, or retail establishments located within the principal use and not occupying more than ten percent (10%) of the total gross residential floor area of the main structure or structures on the site; additional accessory 752 Town of Vail Page 12 dining areas may be located on an outdoor deck, porch, or terrace. (Ord. 1(2008) § 23: Ord. 2(2006) § 2) 12-7J-3: CONDITIONAL USES: The following conditional uses shall be permitted in the PA-2 district, subject to issuance of a conditional use permit in accordance with the provisions of chapter 16 of this title: Bed and breakfasts, as further regulated by section 12-14-18 of this title. Fractional fee club units, as further regulated by subsection 12-16-7A8 of this title. Lodges, including accessory eating, drinking, or retail establishments located within the principal use and occupying between ten percent (10%) and fifteen percent (15%) of the total gross residential floor area of the buildings, grounds and facilities. Public or commercial parking facilities or structures. Public transportation terminals. Public utility and public service uses. Religious institutions. Theaters and convention facilities. (Ord. 2(2016) § 18: Ord. 12(2008) § 25: Ord. 1(2008) § 23: Ord. 2(2006) § 2) 12-7J-4: ACCESSORY USES: The following accessory uses shall be permitted in the PA-2 district: Home occupations, subject to issuance of a home occupation permit in accordance with the provisions of section 12-14-12 of this title. Meeting rooms. Swimming pools, tennis courts, patios, or other recreation facilities customarily incidental to permitted lodge uses. Other uses customarily incidental and accessory to permitted or conditional uses, and necessary for the operation thereof. (Ord. 2(2006) § 2) 12-7J-5: LOT AREA AND SITE DIMENSIONS: The minimum lot or site area shall be ten thousand (10,000) square feet of buildable area and each site shall have a minimum frontage of thirty feet (30'). Each site shall be 753 Town of Vail Page 13 of a size and shape capable of enclosing a square area eighty feet (80') on each side within its boundaries. (Ord. 2(2006) § 2) 12-7J-6: SETBACKS: In the PA-2 district, the minimum front setback shall be twenty feet (20'), the minimum side setback shall be twenty feet (20'), and the minimum rear setback shall be twenty feet (20'). At the discretion of the planning and environmental commission and/or the design review board, variations to the setback standards outlined above may be approved during the review of exterior alterations or modifications (section 12-7J-12 of this article) subject to the applicant demonstrating compliance with the following criteria: A. Proposed building setbacks provide necessary separation between buildings and riparian areas, geologically sensitive areas and other environmentally sensitive areas. B. The proposed building setbacks will provide adequate availability of light, air and open space. C. Proposed building setbacks will provide a compatible relationship with buildings and uses on adjacent properties. D. Proposed building setbacks will result in creative design solutions or other public benefits that could not otherwise be achieved by conformance with prescribed setback standards. (Ord. 2(2006) § 2) 12-7J-7: HEIGHT: For a flat roof or mansard roof, the height of buildings shall not exceed forty five feet (45'). For a sloping roof, the height of buildings shall not exceed forty eight feet (48'). (Ord. 2(2006) § 2) 12-7J-8: DENSITY CONTROL: Up to one hundred fifty (150) square feet of gross residential floor area (GRFA) may be permitted for each one hundred (100) square feet of buildable site area. Final determination of allowable gross residential floor area shall be made by the planning and environmental commission in accordance with section 12-7J-12 of this article. Specifically, in determining allowable gross residential floor area the planning and environmental commission shall make a finding that proposed gross residential floor area is in conformance with applicable elements of the Vail comprehensive plan. Total density shall not exceed twenty five (25) dwelling units per acre of buildable site area. For the purposes of calculating density, employee housing units, limited service lodge units, accommodation units and fractional fee club units shall not be counted towards density (dwelling units per acre). A dwelling unit in a multiple-family building may include one or more attached accommodation units. (Ord. 2(2006) § 2) 12-7J-9: SITE COVERAGE: 754 Town of Vail Page 14 Site coverage shall not exceed sixty five percent (65%) of the total site area. Final determination of allowable site coverage shall be made by the planning and environmental commission and/or the design review board in accordance with section 12-7J-12 of this article. Specifically, in determining allowable site coverage the planning and environmental commission and/or the design review board shall make a finding that proposed site coverage is in conformance with applicable elements of the Vail comprehensive plan. (Ord. 2(2006) § 2) 12-7J-10: LANDSCAPING AND SITE DEVELOPMENT: At least thirty percent (30%) of the total site area shall be landscaped. The minimum width and length of any area qualifying as landscaping shall be fifteen feet (15') with a minimum area not less than three hundred (300) square feet. (Ord. 2(2006) § 2) 12-7J-11: PARKING AND LOADING: Off street parking and loading shall be provided in accordance with chapter 10 of this title. At least seventy five percent (75%) of the required parking shall be located within the main building or buildings and hidden from public view. No at grade or above grade surface parking or loading area shall be located in any required front setback area. Below grade underground structured parking and short term guest loading and drop off shall be permitted in the required front setback subject to the approval of the planning and environmental commission and/or the design review board. (Ord. 2(2006) § 2) 12-7J-12: EXTERIOR ALTERATIONS OR MODIFICATIONS: A. Review Required: The construction of a new building or the alteration of an existing building shall be reviewed by the design review board in accordance with chapter 11 of this title. However, any project which adds additional dwelling units, accommodation units, fractional fee club units, limited service lodge units, any project which adds more than one thousand (1,000) square feet of commercial floor area or common space, or any project which has substantial off site impacts (as determined by the administrator) shall be reviewed by the planning and environmental commission as a major exterior alteration in accordance with this chapter and section 12-3-6 of this title. Complete applications for major exterior alterations shall be submitted in accordance with administrative schedules developed by the department of community development for planning and environmental commission and design review board review. The following submittal items are required: 1. Application: An application shall be made by the owner of the building or the building owner's authorized agent or representative on a form provided by the administrator. Any application for condominiumized buildings shall be authorized by the condominium association in conformity with all pertinent requirements of the condominium association's declarations. 2. Application; Contents: The administrator shall establish the submittal requirements for an exterior alteration or modification application. A complete list of the submittal 755 Town of Vail Page 15 requirements shall be maintained by the administrator and filed in the department of community development. Certain submittal requirements may be waived and/or modified by the administrator and/or the reviewing body if it is demonstrated by the applicant that the information and materials required are not relevant to the proposed development or applicable to the planning documents that comprise the Vail comprehensive plan. The administrator and/or the reviewing body may require the submission of additional plans, drawings, specifications, samples and other materials if deemed necessary to properly evaluate the proposal. 3. Work Sessions/Conceptual Review: If requested by either the applicant or the administrator, submittals may proceed to a work session with the planning and environmental commission, a conceptual review with the design review board, or a work session with the town council. 4. Hearing: The public hearing before the planning and environmental commission shall be held in accordance with section 12-3-6 of this title. The planning and environmental commission may approve the application as submitted, approve the application with conditions or modifications, or deny the application. The decision of the planning and environmental commission may be appealed to the town council in accordance with section 12-3-3 of this title. 5. Lapse Of Approval: Approval of an exterior alteration as prescribed by this article shall lapse and become void three (3) years following the date of approval by the design review board unless, prior to the expiration, a building permit is issued and construction is commenced and diligently pursued to completion. Administrative extensions shall be allowed for reasonable and unexpected delays as long as code provisions affecting the proposal have not changed. (Ord. 2(2006) § 2) 12-7J-13: COMPLIANCE BURDEN: It shall be the burden of the applicant to prove by a preponderance of the evidence before the planning and environmental commission and the design review board that the proposed exterior alteration or new development is in compliance with the purposes of the public accommodation-2 (PA-2) zone district, and that the proposal does not otherwise have a significant negative effect on the character of the neighborhood, and that the proposal substantially complies with other applicable elements of the Vail comprehensive plan. (Ord. 2(2006) § 2) 12-7J-14: MITIGATION OF DEVELOPMENT IMPACTS: Property owners/developers shall also be responsible for mitigating direct impacts of their development on public infrastructure and in all cases mitigation shall bear a reasonable relation to the development impacts. Impacts may be determined based on reports prepared by qualified consultants. The extent of mitigation and public amenity improvements shall be balanced with the goals of redevelopment and will be determined by the planning and environmental commission in review of development projects and conditional use permits. Substantial off site impacts may include, but are not limited to, the following: deed restricted employee housing, roadway improvements, pedestrian walkway improvements, streetscape improvements, stream tract/bank 756 Town of Vail Page 16 restoration, loading/delivery, public art improvements, and similar improvements. The intent of this section is to only require mitigation for large scale redevelopment/development projects which produce substantial off site impacts. (Ord. 2(2006) § 2) 12-7J-15: LOCATION OF BUSINESS ACTIVITY: A. Limitations; Exception: All permitted and conditional uses shall be operated and conducted entirely within a building except for permitted parking and loading areas and such activities as may be specifically authorized to be unenclosed by a conditional use permit and the outdoor display of goods. For purposes of this section, "conducted entirely within a building" means that all activities related to the permitted use, including contacting potential customers and clients, must occur completely inside of a building, and not in an open doorway of the building. B. Outdoor Displays: The area to be used for an outdoor display shall be located directly in front of the establishment displaying the goods and entirely upon the establishment's own property. Sidewalks, building entrances and exits, driveways and streets shall not be obstructed by outdoor displays. (Ord. 11(2019) § 10) West Vail Master Plan Chapter 4 Goal 1 Bicycling and walking trips throughout West Vail are comfortable and convenient due to new infrastructure and other enhancements. Currently, West Vail has relatively limited bicycle and pedestrian infrastructure, particularly off the Frontage Roads. Adding infrastructure throughout the community can make existing trips more comfortable and encourage people to ride a bicycle or walk more frequently. Key elements of implementing this goal include formalizing walking paths, creating a pedestrianoriented environment in the commercial area, pedestrian scale lighting, and developing a connected network of bicycle and pedestrian facilities. Chapter 4 Table 4.1 Project 13: Widen and extend the multi-use path/wide sidewalk that is already planned on the east side of the road. The planned path should be enhanced to ensure a minimum width of eight feet. The path should also extend continuously between the North Frontage Road and Chamonix Lane. Add bicycle shared lane markings (sharrows) on the Chamonix Road southbound lane and add signage on the path to denote that only bicyclists traveling northbound should use the path and that pedestrian travel is bi-directional. Vail 20/20 Strategic Action Plan Goal #4: Provide for enough deed-restricted housing for at least 30 percent of the workforce through policies, regulations and publicly initiated development. Address the zoning regulations to provide more incentives for developers to build employee housing units. IV. SITE ANALYSIS 757 Town of Vail Page 17 Address: 2211 North Frontage Road West Legal Description: Highline Subdivision Lot 1 and Lot 2 A resubdivision of Tract C, Lot 1, Lot 2, and Lot 3 Vail Das Schone Filing No. 1 and Lot 1, Vail Das Schone Filing 3 Existing Zoning: Public Accommodation-2 (PA-2) District Land Use Plan Designation: Community Commercial Current Land Use: Lodge Proposed Land Use: Lodge Geological Hazards: Debris Flow, Steep Slopes and Rock Fall Hazard * Snow storage is 10% for paved areas that are snow melted. ** Including areas that do not meet the dimension or size requirements. Additional discussion in deviation #5 below. *** Including areas with trees that do not count as snow storage. Additional discussion in deviation #3 below. V. SURROUNDING LAND USES AND ZONING Existing Use Zone District North: Multi-family/Single- family Two-Family Primary/Secondary Residential South: I-70 N/A East: Commercial Commercial Core 3 (CC3) Development Standard Required by Town Code Proposed Complies? Lot Size Min. 10,000 sq. ft. 3.95 acres (172,047 sq. ft.) Complies Minimum Setbacks Front 20 Side 20 Rear 20 North: 5 South: >2 East: 12 West: >2 Deviation Requested Maximum Height 48 ft. max - mansard 45 ft. max - flat ft. max ft. max Complies GRFA Max. 150/100 Buildable Site Area or 258,070 SF 77,805 sq. ft. Complies Site coverage maximum Max. 65% of site area or 111,830 sq. ft. 62,070 sq. ft. or 36% Complies Minimum Landscaping Min. 30% of site area or 51,614 sq. ft. 50,594 sq. ft. or 29% ** Deviation Requested Minimum Snow Storage Min. 30% of paved area* or 17,970 sq. ft. 13,837 sq. ft. or 23%*** Deviation Requested Required Parking 256 spaces 208 spaces Deviation requested 758 Town of Vail Page 18 West: Commercial/Housing Commercial Core 3 (CC3) & Housing (H) SPECIAL DEVELOPMENT DISTRICT DEVIATIONS REQUESTED: 1. Reduction in the parking requirements for the site. The application includes a parking study done by McDowell Engineering that looks at the parking counts for the hotel, conference space, retail, and commercial spaces on the property. The counts suggested do not include the EHU units or the two independent restaurants in the hotel building. The study utilizes the Institute of Transportation Engineers (ITE) counts as well as an onsite parking survey performed by the property owner over a period of 11 months. The study concludes that for the uses included in the study a rate of 0.7 parking spaces per room will be sufficient 99% of the time. At 0.7 spaces per room that comes to a total of 137 spaces for 195 rooms. With the restaurant seating (18.9), the dormitory (2.5), and the EHU building (16) the total parking spaces proposed to be required is 174 spaces. The applicant is also proposing to not enclose 75% of the parking on site as required in the PA-2 District. With non-conforming properties any additions cannot increase the non-conformity. As proposed the additional accommodation units would generate a parking demand of 55 spaces. Included with the parking for the EHU the added parking requirement is 71 spaces and only 48 spaces are being enclosed. Therefore, the deviation requested is to have less enclosed parking than required by code. Use Rooms/Units Spaces Per Room/Unit GRFA/SF 1 Space Per Parking Required Suggestion Accommodation Units 176 0.4 57755 1000SF GRFA 128.2 123.2 Limited Service Lodge Unit 19 0.7 13.3 13.3 Restaurants and lobby bar(seating area) 2357 120 SF 19.6 19 Spa/retail 1520 300 SF 5.1 0 Dorm (dwelling unit 2000+SF 1 2.5 2.5 2.5 EHU 16 2 32 15.9 Conference Space (seating floor area) 6616 120 SF 55.1 0 Total Parking Required 255.8 173.9 2. Parking in the front setback. The existing hotel has parking in the front setback which is not permitted in the PA-2 district. Rather than leave this as a non-conformity, the applicant requests this be permitted as a deviation through the SDD. 759 Town of Vail Page 19 3. Increase in the amount of parking controlled by valet. Town Code stipulates that If the required parking is decided upon as 174 parking spaces then 50% would be 87 spaces that would be allowed to be operated by valet parking. The application is proposing to valet park 111 spaces or 64% of the required parking, which would be 24 more spaces than the maximum allowed by code. The application proposes to include 208 parking spaces, which exceeds the proposed required parking (175 spaces) by 33 spaces. 4. Loading and Delivery space sizes There are two loading and delivery spaces required with the increased size of the hotel operation. Two spaces are provided and can be seen on sheet C2.1. these spaces are size 12x28 feet. The minimum by code is 12x35 feet long. 5. Exception from the requirement that landscaped areas with trees cannot be used for snow storage. Section 14-5-2(g) does not allow landscaped areas with trees to be counted for snow storage purposes. 6. Reduction in the amount of snow storage required. The application proposes a total of 17,189 square feet of snow storage where 17,970 square feet is required by code. The proposed snow storage includes the grasscrete area that is also designated parking. Without this portion of snow storage counted the total comes out to 13,837 square feet. Possible snow storage is also impacted by the fact that the application shows snow storage taking place in the proposed six-foot pedestrian easement that is proposed to be dedicated to the Town. This easement would occupy 2,535 of the proposed snow storage area. come from the classification of the part of the paved area, as it will be used for parking. 7. Relief from the minimum size of landscaping areas. There is a minimum size for landscaping in the PA-2 Zone District. The Code requires This application wishes to be granted relief from this requirement. 8. Reduction in the amount of landscaping required. 760 Town of Vail Page 20 The minimum amount of landscaping required is 51,614 square feet. The application is proposing to provide 50,594 square feet of landscaping and asking for a reduction in the amount required. 3,352 square feet of grasscrete area that is noted as landscaping. 9. Relief from the required maximum allowed driveway slope. As an existing condition the slope of the entrance drives do not meet the commercial requirements of 8% for centerline and 8.5% for cross-slope. Since this is an existing condition there is no practical way to meet these requirements today without full redevelopment of the site. 10. Relief from the side and rear setback for the recycling and dumpster enclosure. Due to the typical size of a trash enclosure the side setback being reduced for only this portion would not be unreasonable. The reduction would allow for a trash enclosure to be added on the east side of the EHU building. The deviation on the South setback is for the existing trash enclosure that is already in place. 11. Relief from the restriction that no structure shall be built on a slope that exceeds forty percent (40%) or greater except in a low density residential, West Vail Multi-Family and Community Housing Zone Districts as outlined in section 12-21-10. Since this is a man-made condition the request to be exempted from this provision is a reasonable deviation. 12. Building Height The existing hotel extends up to 53 feet in height, which exceeds the maximum height of 48 feet in the PA-2 district. Rather than leave this as a non-conformity, the applicant requests this be permitted through the SDD. SDD Deviations Requested: 1. Reduction in parking requirements for the site. 2. Parking in the front setback 3. Increase in the amount of parking controlled by the valet. 4. Loading and delivery space sizes 5. Exception to from the requirement that landscaped areas with trees cannot be used for snow storage. 6. Reduction in the amount of snow storage required. 7. Relief from the minimum size of landscaping areas. 8. Reduction in the amount of landscaping required. 9. Relief from the required maximum allowed driveway slope. 761 Town of Vail Page 21 10. Relief from the side and rear setback for the recycling and dumpster enclosures. 11. Relief from the restriction that no structure shall be built on a slope that exceeds forty percent (40%) or greater except in a single-family residential zone district as outlined in section 12-21-10. 12. Building height. Benefits: 1. $32,500 for Public Art 2. A six-foot easement for pedestrian access along the far eastern boundary of the lot. 3. A sidewalk along Chamonix Lane and Chamonix Road. 4. Four units of the EHU building not placed in a mitigation bank and the interim period of the remaining units before they are applied to a development application. VI. EMPLOYEE HOUSING PLAN The employee housing requirement for the application results from the commercial linkage requirement for the additional commercial space. Type of Use Employee Generation Rate Employees Accommodation Unit/ Limited Service Lodge Unit (98) 0.6 employee per net new units 58.8 Business Office and Professional Office (-4,500) 3.2 employees per 1,000 square feet of floor area -14.4 Conference Facility (4,590) 0.8 employees per 1,000 square feet of floor area 3.7 Total 48.1 With the mitigation rate of 20% for commercial linkage the applicant is required to provide housing for 9.6 employees. They are proposing to provide that housing through the employee dormitory constructed from the office space on the site. This could house 12 employees leaving a credit of 2.4 employees. The 15-unit employee housing unit apartment building would utilize the mitigation bank (12-23-7) to hold the credit for the units to utilize for a future employee housing requirement. As part of the public benefit of the SDD four units will not be included in the mitigation bank. VII. REVIEW CRITERIA - SDD Criteria: The following design criteria shall be used as the principal criteria in evaluation the merits of the proposed special development district. It shall be the burden of the applicant to demonstrate that the submittal material and the proposed development plan comply with each of the following standards, or demonstrate that one or more of them is 762 Town of Vail Page 22 not applicable or that a practical solution consistent with the public interest has been achieved: 1. Compatibility: Design compatibility and sensitivity to the immediate environment, neighborhood and adjacent properties relative to architectural design, scale, bulk, building height, buffer zones, identity, character, visual integrity and orientation. The proposed SDD amendment is generally compatible and sensitive to the immediate environment, neighborhood or adjacent properties. The deviations being requested generally do not affect the bulk and mass of the buildings compared to what would be permitted through the zoning. The requested setback deviations are for the existing dumpster encloser and the proposed enclosure on the eastern side of the property. The approval of the SDD amendment would not affect the existing enclosure in any way, and the proposed would be allowed to project eight feet into the side setback, similar to a deck or patio. The proposed EHU building on the north end of the lot is designed to be two to three levels above the grade of Chamonix Lane, which is compatible and similar to the majority of the buildings in that area. Staff finds that this criterion is met. 2. Relationship: Uses, activity and density which provide a compatible, efficient and workable relationship with surrounding uses and activity. The SDD does not propose a change in the use, or activity on the site. Residential density will not be affected. There will be additional employee housing units, but those are not counted towards density calculations. In terms of building density as site coverage, the application proposes 36% site coverage which would be within the maximum 40% allowed in the CC3 Zone District on either side of this property and well within the 65% permitted by the zone district. Staff finds that this criterion is met. 3. Parking And Loading: Compliance with parking and loading requirements as outlined in chapter 10 of this title. This application proposes a deviation from the maximum amount of parking that is allowed to be controlled by valet and to minimize the amount of parking on the lot according to the provided parking study. The application shows valet parking that is three cars deep on the surface parking lot. The third row of the parking aisle is proposed to be covered by grass pavers where the application states the area will be used for snow storage during the winter and allow for it to be used as excess parking during the summer. 763 Town of Vail Page 23 Keeping the lot clear enough for fire access and staging could be difficult, but with the available third row of parking the snow removal operations noted in the applicant narrative should be sufficient. The PA-2 zone district has a requirement that 75% of the required parking be located within the main building. With this application there will be 48 parking spaces located within the main building, or twenty seven percent (27%) of the 175 spaces discussed above. There are only 39 spaces being added with this application, meaning the application does not exacerbate the existing non- conformity, but does not reach the 75%. Staff finds this is acceptable as there is no increase to the non-conformity. Staff finds that this criterion is met. 4. Comprehensive Plan: Conformity with applicable elements of the Vail comprehensive plan, town policies and urban design plans. The application would be furthering Goal #4 of the Land Use and Development section of the comprehensive plan as the the employee housing building would be in addition to required employee housing to satisfy the Commercial Linkage requirement. The applicant is proposing to build this as a mitigation bank so that future developments do not have to provide employee housing. There are only four units that will be excluded from the mitigation bank and can be considered a true benefit. The benefit of the other twelve units will be temporary since those will be credited for a requirement associated with a future development. Staff finds that this criterion is met. 5. Natural And/Or geologic Hazard: Identification and mitigation of natural and/or geologic hazards that affect the property on which the special development district is proposed. There are steep slopes, hazardous rock fall, and debris flow that affects this property. The applicant supplied a report on these hazards. The report states that a site specific study would need to be completed for debris flow to suggest the needed mitigation for the site, and that the rock fall hazard was low for this site. It did not suggest a site specific study for rock fall. A condition of approval has been added to the associated Exterior Alteration application to note the site- specific debris flow study is to be submitted with the DRB application for the building on Lot 2. The applicant is seeking relief from Section 12-21-10 that does not allow structures to be built on slopes exceeding 40%. Staff finds that this criterion is met. 764 Town of Vail Page 24 6. Design Features: Site plan, building design and location and open space provisions designed to produce a functional development responsive and sensitive to natural features, vegetation and overall aesthetic quality of the community. The site plan does produce a functional development that is in line with the aesthetic quality of the community. The employee housing building is oriented towards Chamonix Lane with two entrances on the street side and one entrance on the rear of the building that faces the interior parking lot. The rear entrance allows for the residents to have covered access when entering from the parking lot. The entrance does not service the western units of the building but provides a covered stairway to a heated path that leads to that portion of the building. This will be a benefit to residents during the winter months to have an interior stairwell to avoid snow. If residents are parking in the enclosed garage, then they must walk up the sloped drive aisle to the building. However, having the rear access makes the travel distance to their unit easier. For residents utilizing the valet parking they have a designated walkway that is striped in the drive aisle to access their building. This acknowledges the pedestrians and gives vehicular traffic an indication that pedestrians may be present and increases the safety and walkability of the parking lot. The grass pavers in the third row of valet parking allows for seasonal flexibility when it comes to the valet operations. It will allow the additional parking in the summer and extra snow storage during the winter months. Staff finds that this criterion is met. 7. Traffic: A circulation system designed for both vehicles and pedestrians addressing on and off site traffic circulation. The application proposes a sidewalk along Chamonix Lane and Chamonix Road that varies between five feet, six feet, and ten feet in areas. The sidewalk improves off site pedestrian circulation resulting in a benefit to the community. The sidewalk terminates into the property and will provide an access path to the frontage road for those users. The interior circulation system promotes walkability to and through the site. It provides a way for residents and hotel users to access the frontage road sidewalk without walking through the entrance drive. There is a delineated path through the parking lot for residents and users going to the bus stop. The stairs and entrance paths around the EHU building are proposed to be heated. All of these items combined assist in creating a safer pedestrian environment. 765 Town of Vail Page 25 Staff finds that this criterion is met. 8. Landscaping: Functional and aesthetic landscaping and open space in order to optimize and preserve natural features, recreation, views and function. The SDD asks for relief from the minimum dimensions for landscaped areas to count in the landscaping calculations. Allowing these areas, that would otherwise not meet the minimum size requirements, allows more landscaping to be distributed throughout the site evenly. This increases the aesthetic quality of the landscaping on the site. Staff finds that this criterion is met. 9. Workable Plan: Phasing plan or subdivision plan that will maintain a workable, functional and efficient relationship throughout the development of the special development district. The applicant has stated that the EHU building will be constructed at the same time as the hotel addition. This will ensure that construction will be limited to a singular time frame and will not be split between two large construction projects. Staff finds that this criterion is met. REVIEW CRITERIA EXTERIOR ALTERATION Section 12-7J-13, Compliance Burden, Vail Town Code, outlines the review criteria for exterior alteration applications proposed within the Public Accommodation-2 (PA-2) zone district. According to Section 12-7J-13, Vail Town Code, a major exterior alteration shall be reviewed for compliance with the following criteria: 1. The proposed exterior alteration or new development is in compliance with the purpose of the public accommodation-2 (PA-2) zone district. PA-2 Zone District Purpose: The Pubic Accommodation-2 District is intended to provide sites for lodges, limited service lodges, and residential accommodations on a short term basis, for visitors and guests, together with such public and semipublic facilities and commercial/retail and related visitor oriented uses as may be appropriately located within the same zone district and compatible with adjacent land uses. This District is intended to provide for lodging sites located outside the periphery of the Lionshead Commercial Core Areas. The Pubic Accommodation-2 District is intended to ensure adequate light, air, open space, and other amenities commensurate with lodge uses, and to maintain the desirable resort qualities of the zone district by establishing appropriate site development standards. Additional nonresidential uses are allowed as conditional uses which enhance 766 Town of Vail Page 26 the nature of Vail as a vacation community, and where permitted uses are intended to function compatibly with the high density lodging character of the The proposed exterior alteration is generally consistent with the PA-2 zone short term basis outside of the main core areas of the villages. It also includes a limited amount of commercial to support the lodging use. Staff finds that this criterion is met. 2. That the proposal does not otherwise have a significant negative effect on the character of the neighborhood. The proposal does not have a significant negative effect on the character of the neighborhood. The height that is proposed as part of this application is generally compatible with this neighborhood. As discussed in SDD criteria #1, there is a difference between the residential zone districts across Chamonix Road and the proposed height of the buildings in this application, however, that difference is mitigated by the separation of the structures and the slope of the site down towards the frontage road. Staff finds that this criterion is met. 3. The proposal substantially complies with other applicable elements of the Vail comprehensive plan. The proposal supports the goals and objectives of the Vail comprehensive plan through the inclusion of deed restricted housing and the promotion of alternative transportation options. The addition of the sidewalk along Chamonix Lane is in conformance with the goals of the West Vail Master Plan and Go Vail 2045 Masterplan. Staff finds that this criterion is met. STAFF RECOMMENDATION SPECIAL DEVELOPMENT DISTRICT Based upon the review of the criteria outlined in Section Vll of this memorandum and the evidence and testimony presented, the Community Development Department recommends the Planning and Environmental Commission forward a recommendation of approval to the Vail Town Council reestablish Special Development District No. 43, pursuant to Section 12-9(A), Special Development Districts, Vail Town Code, to allow for the development of a hotel addition, add conference space and an employee housing apartment building, and related uses and 767 Town of Vail Page 27 improvements, located at 2211 North Frontage Road West/ Highline Subdivision Lot 1 and Lot 2 A resubdivision of Tract C, Lot 1, Lot 2, and Lot 3 Vail Das Schone Filing No. 1 and Lot 1, Vail Das Schone Filing 3. Suggested Motion Should the Planning and Environmental Commission choose to forward a recommendation of approval, the Community Development Department recommends the Commission pass the following motion: and Environmental Commission forwards a recommendation of approval to the Vail Town Council to reestablish Special Development District No. 43, pursuant to Section 12-9(A), Special Development Districts, Vail Town Code, to allow for the development of a hotel addition, add conference space and an employee housing apartment building, and related uses and improvements, located at 2211 North Frontage Road West/ Highline Subdivision Lot 1 and Lot 2 A resubdivision of Tract C, Lot 1, Lot 2, and Lot 3 Vail Das Schone Filing No. 1 and Lot 1, Vail Das Schone Filing 3 and setting forth details in regard thereto Suggested Findings Should the Planning and Environmental Commission choose to forward a recommendation of approval, the Community Development Department recommends the Commission makes the following findings: ll of the Staff memorandum to the Planning and Environmental Commission dated January 13th, 2025, and the evidence and testimony presented, the Planning and Environmental Commission finds: 1. That the SDD does comply with the standards listed in subsection A of this section; and 2. That the SDD is consistent with the adopted goals, objectives and policies outlined in the Vail comprehensive plan and compatible with the development objectives of the town; and 3. That the SDD is compatible with and suitable to adjacent uses and appropriate for the surrounding areas; and 4. That the SDD does promote the health, safety, morals, and general welfare of the town and promote the coordinated and harmonious development of the town in a manner that conserves and enhances its natural environment and its established character as a resort and residential community of the highest EXTERIOR ALTERATION The Community Development Department recommends that the Planning and 768 Town of Vail Page 28 Environmental Commission approve with conditions the request for a major exterior alteration, pursuant to Section 12-7J-12 Exterior Alterations or Modifications, Vail Town Code, to allow for a hotel addition and an EHU apartment building, located at 2211 North Frontage Road West/ Highline Subdivision Lot 1 and Lot 2 A resubdivision of Tract C, Lot 1, Lot 2, and Lot 3 Vail Das Schone Filing No. 1 and Lot 1, Vail Das Schone Filing 3, and setting forth details in regard thereto. Suggested Motion Should the Planning and Environmental Commission choose to approve with conditions, the Community Development Department recommends the Commission pass the following motion: approve with conditions the major exterior alteration, pursuant to Section 12-7J-12, Exterior Alterations or Modifications, Vail Town Code, to allow for a hotel addition and an EHU apartment building, located at 2211 North Frontage Road West/ Highline Subdivision Lot 1 and Lot 2 A resubdivision of Tract C, Lot 1, Lot 2, and Lot 3 Vail Das Schone Filing No. 1 and Lot 1, Vail Das Schone Filing 3 and setting Should the Planning and Environmental Commission choose to approve with conditions, the Community Development Department recommends the Commission applies the following condition: 1. This approval is contingent upon the applicant receiving approval of the Special Development District application PEC24-0039. 2. The applicant shall obtain the certificate of occupancy for the EHU building on Lot 2 before requesting a certificate of occupancy for the hotel addition on Lot 1. 3. Approval is contingent upon the applicant obtaining Town of Vail approval of an associated Design Review Board application. 4. Applicant shall obtain approval from Holy Cross to vacate the easement on Lot 1 under the proposed hotel addition prior to building permit issuance. 5. Applicant shall set aside two (2) three-bedroom units and two (2) one-bedroom units in the EHU building on Lot 2 not to be included in the mitigation bank in accordance with Vail Town Code. 6. Prior to the issuance of a certificate of occupancy for the EHU building on Lot 2, the applicant shall record deed restrictions with the Eagle County Clerk and Recorder, in a format approved by the Town Attorney. 769 Town of Vail Page 29 7. Applicant shall provide an AIPP contribution to $32,500 and the installation shall be completed prior to issuance of the certificate of occupancy for the hotel addition on Lot 1. 8. The EHU spaces can be managed by the hotel if Lot 1 and Lot 2 remain under single ownership. If the Lot 2 is condominiumized or sold to a third party, the required parking spaces for Lot 2 shall be designated as the single-loaded spaces along the east side of the hotel building. A change to this parking location requires review and approval by the Town of Vail through a minor SDD amendment. 9. The applicant shall submit a site-specific debris flow hazard analysis for the development on Lot 2 with the Design Review Board Application. Suggested Findings Should the Planning and Environmental Commission choose to approve with conditions, the Community Development Department recommends the Commission makes the following findings: ll of the Staff memorandum to the Planning and Environmental Commission dated January 13th, 2025, and the evidence and testimony presented, the Planning and Environmental Commission finds: 1. That the proposed exterior alteration or new development is in compliance with the purposes of the public accommodation-2 (PA-2) zone district; and 2. That the proposal does not otherwise have a significant negative effect on the character of the neighborhood; and 3. That the proposal does substantially comply with other applicable elements of the VIII. ATTACHMENTS A. Vicinity Map B. Applicant Narrative C. McDowell Parking Analysis D. Skyline Geoscience Geologic Study E. McDowell Transportation Impact Study F. Project Plan Set G. PEC Meeting Minutes 12-23-24 770 771 772 773 774 775 776 777 778 779 780 781 782 783 784 785 786 787 788 789 790 791 Th a n k y o u 792 793 794 795 796 797 798 799 800 801 802 803 804 805 806 807 808 809 810 811 812 813 814 AGENDA ITEM NO. 8.4 Item Cover Page DATE:March 18, 2025 TIME:5 min. SUBMITTED BY:Lauren Noll, Finance ITEM TYPE:Ordinance AGENDA SECTION:Public Hearings (8:05pm) SUBJECT:Ordinance No. 3, Series of 2025, Second Reading, An Ordinance Amending Chapter 4-14 of the Vail Town Code to Establish Fees for Missed Short-Term Rental Inspections (8:20pm) SUGGESTED ACTION:Approve, approve with amendments, or deny Ordinance No. 3, Series of 2025 upon second reading. PRESENTER(S):Carlie Smith, Finance Director VAIL TOWN COUNCIL AGENDA ITEM REPORT ATTACHMENTS: Council Memo - STR Inspection Fee Ordinance No. 3, Series of 2025 - STR Inspection Fee 815 Town of Vail Page 1 Memorandum To:Town Council From:Finance Department Date:March 18, 2025 Subject:Ordinance No. 3, Series 2025, an ordinance establishing a fee for no-show fire inspections within in the town’s short-term rental (STR) code There have been no changes since the first reading on March 4, 2025. I.PURPOSE The purpose of Ordinance No. 3, Series 2025 is to amend the Title 4, Chapter 14 of the Vail Town Code to allow staff to assess a fee to STR owners or property managers who set up a fire inspection appointment and fail to attend the appointment. II.DISCUSSION In 2022 Town Council adopted Ordinance No. 11 establishing a requirement for all STRs without a 24/7 staffed front desk to pass a life safety fire inspection every three years. STR owners or property managers can schedule fire inspections online. Appointment slots are made available up to nine months in advance to provide flexibility, and cancellations can be made online up to 24 hours prior to the inspection to allow others to fill the open slot. Appointment reminders are sent out upon booking and 24 hours prior to the appointment. Since the fire inspection requirement has been put in place, town inspectors have experienced same- day cancellations, cancellations within 24 hours, and no-show appointments. Currently, there are no fees or penalties to encourage compliance with scheduled appointments. Staff proposes implementing a $115 fee for no-show appointments or cancellations made within 24 hours of the scheduled inspection to cover the estimated staff time lost due to the cancellation. Correspondingly, staff recommends that the owner or property manager be prohibited from rescheduling an inspection until the fee is paid. Does Council support adopting this new fee? III.ACTION REQUESTED FROM COUNCIL Staff requests that Council approve or approve with amendments Ordinance No. 3, Series 2025 upon 2nd reading. 816 3/13/2025 C:\USERS\EASYPD~1\APPDATA\LOCAL\TEMP\BCL TECHNOLOGIES\EASYPDF 8\@BCL@700D78CD\@BCL@700D78CD.DOCX ORDINANCE NO. 3 SERIES 2025 AN ORDINANCE AMENDING CHAPTER 4-14 OF THE VAIL TOWN CODE TO ESTABLISH FEES FOR MISSED SHORT-TERM RENTAL INSPECTIONS NOW BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF VAIL, COLORADO, THAT: Section 1.Section 4-14-5(B) of the Vail Town Code is amended by the addition of a new subsection 4, to read as follows: § 4-14-5 HEALTH AND SAFETY STANDARDS. *** (B)Inspections: *** (4)For each STR inspection that was requested and the licensee failed to appear for or allow the inspection when scheduled or canceled the inspection within 24 hours prior to the scheduled inspection, there shall be a fee of one hundred fifteen dollars ($115), which shall be paid to the Town prior to rescheduling such inspection. Section 2.If any part, section, subsection, sentence, clause or phrase of this ordinance is for any reason held to be invalid, such decision shall not effect the validity of the remaining portions of this ordinance; and the Town Council hereby declares it would have passed this ordinance, and each part, section, subsection, sentence, clause or phrase thereof, regardless of the fact that any one or more parts, sections, subsections, sentences, clauses or phrases be declared invalid. Section 3.The Town Council hereby finds, determines and declares that this ordinance is necessary and proper for the health, safety and welfare of the Town and the inhabitants thereof. Section 4.The amendment of any provision of the Vail Town Code as provided in this ordinance shall not affect any right which has accrued, any duty imposed, any violation that occurred prior to the effective date hereof, any prosecution commenced, nor any other action or proceeding as commenced under or by virtue of the provision amended. The amendment of any provision hereby shall not revive any provision or any ordinance previously repealed or superseded unless expressly stated herein. Section 5.All bylaws, orders, resolutions and ordinances, or parts thereof, inconsistent herewith are repealed to the extent only of such inconsistency. This repealer shall not be construed to revise any bylaw, order, resolution or ordinance, or part thereof, theretofore repealed. 817 2 3/13/2025 C:\USERS\EASYPD~1\APPDATA\LOCAL\TEMP\BCL TECHNOLOGIES\EASYPDF 8\@BCL@700D78CD\@BCL@700D78CD.DOCX INTRODUCED, READ ON FIRST READING, APPROVED, AND ORDERED PUBLISHED ONCE IN FULL ON FIRST READING this 4th day of March, 2025 and a public hearing for second reading of this Ordinance set for the 18th day of March, 2025, in the Council Chambers of the Vail Municipal Building, Vail, Colorado. _____________________________ Travis Coggin, Mayor ATTEST: ________________________________ Stephanie Johnson, Acting Town Clerk READ AND APPROVED ON SECOND READING AND ORDERED PUBLISHED this 18th day of March, 2025. _____________________________ Travis Coggin, Mayor ATTEST: ________________________________ Stephanie Johnson, Acting Town Clerk 818