HomeMy WebLinkAbout2025-03-11 VLHA Minutes
Vail Local Housing Authority Minutes
Tuesday, March 11, 2025
3:00 PM
Vail Town Council Chambers and virtually by Zoom.
PRESENT ABSENT
Steve Lindstrom
Dan Godec
Kristin Kenny Williams
Craig Denton
Christine Santucci
STAFF
Martha Anderson, Senior Housing Coordinator
1. Call to Order (3:00pm)
2. Citizen Participation (5 min.) No comments.
3. Approval of Minutes (5 min.)
3.1 Approval of January 28, 2025 Minutes
2025-01-28 VLHA Minutes.pdf
MOTION: Williams SECOND: Lindstrom PASSED: 4 - 0
4. Main Agenda (25 min.)
4.1 Resolution No. 1, Series of 2025, A Resolution Approving an Exemption from
Audit for the Fiscal Year 2024, for the Vail Local Housing Authority in the State of
Colorado.
Presenter(s): Jake Shipe, Budget Manager
Time: 5 Min.
Resolution Audit Exempt 24.pdf
2024 Audit Exemption.pdf
Shipe reviewed the exemption from audit from process and signatures were
gathered during the meeting.
MOTION: Godec SECOND: Williams PASSED: 5 - 0
4.2 2024 Year-End Financial Housing Update
Presenter(s): Jake Shipe, Budget Manager
Time: 15 Min.
031125 VLHA 2024 Year-End Financial Update.pdf
Shipe reviewed the year-end financial income statement, referencing the packet
without any questions from the Authority.
The year-end balance sheet, cash balance and preliminary results from the housing fund
statement.
Town acquired $134,000 in Vail InDeed purchases including two buy-down housing
units to be sold to the community wiht deed restrictions as well as made progress
towards housing goals at West Middle Creek, Timber Ridge and the East Vail (CDOT)
parcel.
4.3 Resolution No. 2, Series of 2025, a Resolution Approving the Purchase of a Deed
Restriction Interest in Property (Type III Deed Restriction) in the Town of Vail
Legally Described as Bldg 2: Subdivision: Sandstone 70 Unit C, Eagle County,
Colorado with a Physical Address of 909 Red Sandstone Road, Unit C2, Vail,
Colorado; and Setting Forth Details in Regard Thereto.
Presenter(s): Martha Anderson, Senior Housing Coordinator
Time: 5 Min.
2025-2 VLHA Resolution purchase of a deed restriction 909 Red Sandstone Road Unit
C2.pdf
This pertains to the Vail InDEED approval from application which was reviewed in
January. The purchase price of the home is $750,000 and the board approved $160,00
for the Vail InDEED purchase. The home is under contract with a closing date set for
March 31, 2025.
MOTION: Godec SECOND: Williams PASSED: 5 - 0
5. Matters from the Chairman and Authority Members (5 min.)
Habitat for Humanity had a record Carpenter's Ball raising $1 million.
The draft of the housing needs assessment was presented a Council work session.
Significantly, the affordability component continues to be a challenge. The affordability for
deed restricted housing in Town of Vail hits the mark.
Santucci commented that the awareness seems low regarding Vail InDEED and
discussion ensued. There is an opportunity for advertising and exposure through VBOR
meetings, social media, real estate company sales meetings, community and through MLS
email blast outreach.
Lindstrom updated the group regarding West Middle Creek discussion from the recent Council
meeting. The project is which is moving towards the bond and COP financing. It should be on
the Council agenda on Tuesday, March 18 agenda for final review. Other updates included:
The Town's purchase of the East Vail CDOT closed and discussion ensued around the
location of the parcel.
Timber Ridge property sales continue, and an additional community event is coming up at
Manor Vail on Monday, March 17. The sales team for Timber Ridge Village will be at the
Town of Vail Community Meeting on Tuesday, March 25.
Lindstrom and Ruther will be honored for the Trailblazer Award on Monday, March 24.
Craig Denton made a motion to exit regular session and enter Executive Session.
MOTION: Denton SECOND: Williams PASSED: 5 - 0
6. Executive Session (15 min.)
Executive Session Pursuant to: C.R.S. §24- 6-402(4)(a) - to consider the purchase, acquisition,
lease, transfer or sale of any real, personal or other property interest, §24- 6- 402(4)(e) to
determine positions relative to matters that may be subject to negotiations, develop a strategy for
negotiations and instruct negotiators and on the topic of: Vail InDEED Application.
7. Any Action as a Result of Executive Session (5 min.)
Authority moved to direct staff as discussed during executive session.
8. Adjournment
Meeting adjourned at 3:30 p.m. directly from Executive Session.
9. Next Meeting Date (March 25, 2025)