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HomeMy WebLinkAbout2025-04-15 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.Consent Agenda (6:10pm) 4.1 Resolution No. 17, Series of 2025 A Resolution Approving a Mutual Release of Restrictive Covenant between the Town of Vail and Spadafora Declaration of Trust Approve, approve with amendments, or deny the Resolution No. 17, Series of 2025. Background: The proposed EHU Exchange furthers the Town's adopted housing goal and aligns with the Town's adopted housing policy statements. 4.2 Resolution No. 18, Series of 2025, A Resolution Approving the Purchase of Residential Property Approve, approve with amendments, or deny Resolution No. 18, Series of 2025. Background: This resolution advances Council's critical action of achieving the adopted hosing goal of acquiring 1,000 new deed restrictions by the year 2027. 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_w73UX4OOS9CothIpfWLIbQ 6:00 PM, April 15, 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 Resolution No. 17 - Release of Deed Restriction Attachment A. Amendment to Restrictive Covenants, 2349 Chamonix Lane Attachment B. Release of Deed Restriction Council Memo - Pitkin Creek Park Unit 7N Resolution No. 18 - Purchase of Real Property 1 4.3 Letter of Support for House Bill 25-1272 Approve a letter of support to be written on behalf of Town Council to Senator Dylan Roberts in regards to House Bill 25- 1272. Background: The Vail Local Housing Authority supports House Bill 25-1272 and is requesting Town Council to show their support on behalf of the Town of Vail. The bill introduces fair and balanced reforms to construction litigation, ensuring high- quality homes are built, problems are fixed, and excessive costs that deter development can be reined in. 4.4 Letter of Support to Protect Inflation Reduction Act Tax Credits Approve joining other mountain communities in signing on to the Mountain Towns 2030 Collective's letter of support to Congress in regard to protecting IRA tax credits. Background: The federal Inflation Reduction Act (IRA) tax credits reduce costs for families and communities, drives incentives for clean energy and infrastructure, and creates jobs in local economies. 4.5 Contract Award with 360 Civil Inc. for Meadow Drive Drainage Improvements Authorize the Town Manager to enter into an agreement, in a form approved by the Town Attorney, with 360 Civil for the Meadow Drive Drainage Improvements project, in an amount not to exceed $160,000.00. Background: This project is budgeted within the Neighborhood Road Reconstruction budget. It includes replacing existing undersized culverts at the intersection of Meadow Drive and Meadow Lane, and Juniper Drive near Bighorn Park, installing a new culvert crossing of Meadow Drive, and roadside ditch grading to increase the roadside swale capacity. 4.6 Contract Award with GM Asphalt Repair LLC for 2025 Vail Overlay Project Authorize the Town Manager to enter into an agreement, in a form approved by the Town Attorney, with GM Asphalt Repair LLC to complete the 2025 Vail Overlay project, in an amount not to exceed $834,000.00. Background: This project is budgeted in the Capital Street Maintenance and Neighborhood Road Reconstruction budgets. Roads included in this year's asphalt overlay project include Meadow Drive, Meadow Lane, Juniper Lane, Main Gore Drive, Black Gore Drive, Black Bear Lane, Ute Lane, and Attachment A. Contract to Buy Real Estate, Counterproposal & Agreement to Amend- Extend Purchase of 3971 Bighorn Road Unit 7N Council Memo - House Bill 25-1272 Attachment A. Construction Defects Factsheet - HB25-1272 Council Memo - Mountain Towns 2030 IRA Tax Credit Attachment A. Mountain Towns 2030 IRA Letter Council Memo - Meadow Drive Drainage Improvements 2 Grouse Lane. 4.7 Contract Award with Icon Inc. for West Vail Rectangular Rapid Flashing Beacons Project Authorize the Town Manager to enter into an agreement, in a form approved by the Town Attorney, with Icon Inc. for the West Vail Rectangular Rapid Flashing Beacons project, in an amount not to exceed $340,000.00. Background: This project is budgeted with the Pedestrian Safety Enhancements budget. It includes installation of pedestrian bulb outs on North Frontage Road at the bus stop crosswalk in front of Safeway to shorten the crosswalk distance across the road. The project also includes improved lighting, pavement marking, signage, and push button activated rectangular rapid flashing beacons. 4.8 Contract Award to Mission Critical Partners for Dispatch Study Authorize the Town Manager to enter into an agreement, in a form approved by the Town Attorney, with Mission Critical Partners for dispatch study, in an amount not to exceed $75,000.00. Background: Staffing is the greatest challenge Vail Public Safety Communications Center faces. Vail PD and VPSCC have sought help in determining how to ensure the sustained viability of emergency communications in Eagle County. 4.9 Change Order with R&H Mechanical for Vail Village Snowmelt Repair Authorize the Town Manager to enter into a change order, in a form approved by the Town Attorney, with R&H Mechanical for continued snowmelt manifold replacements in the Vail Village, in an amount not to exceed $140,000.00. Background: In 2024, the Town of Vail publicly bid out snowmelt repairs for a portion of the Vail Village snowmelt system. The work included the replacement of isolation valves and the replacement of existing manifolds. Additional budgeted funds were allocated this year for continued snowmelt repair focusing on replacement of E. Meadow Drive snowmelt manifolds. 5.Presentation/Discussion (6:10pm) 5.1 DiscoverVail End of Season Event Update (6:10pm)5 min. Listen to presentation. Presenter(s): Jeremy Gross, Special Event Manager Council Memo - Overlay Project Council Memo - WV RRFB Public Comment - WV RRFB Council Memo - Mission Critical Partners Attachment A. Mission Critical Partners Agreement Council Memo - Vail Village Snowmelt Manifolds 3 Background: Staff is excited to share details of the End of Season bash and America Days theme. 6.Action Items (6:15pm) 6.1 Solid Waste Single Hauler Discussion (6:15pm)45 min. Listen to presentation and provide feedback. Presenter(s): Russ Forrest, Town Manager and Chief Ryan Kenney, Vail Police Department Background: Currently, there is an open market system for waste hauling in the Town of Vail. The purpose of this item is to hold a public discussion about the proposed transition to a single waste hauler system for residential properties. 6.2 Resolution No. 19, Series of 2025 A Resolution Approving a Development Management Agreement for the Development of the West Middle Creek Village Apartments between the Town of Vail, Vail Home Partners Corporation, and Corum Real Estate Group Inc. (7:00pm) 30 min. Approve, approve with amendments, or deny Resolution No. 19, 2025. Presenter(s): Carlie Smith, Finance Director and Jason Dietz, Housing Director Background: Items 6.2, 6.3, and 6.4 will be presented concurrently. There continues to be ongoing discussions and negotiations on the development agreement ant AIA general contractors' agreement as all parties attempt to navigate an unpredictable and volatile environment of cost escalations and trade policy. 6.3 Ordinance No. 8, 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; and Declaring an Emergency (7:00pm) Approve, approve with amendments, or deny Emergency Ordinance No. 10, Series of 2025. Presenter(s): Carlie Smith, Finance Director and Jason Dietz, Housing Director Background: Items 6.2, 6.3, and 6.4 will be presented concurrently. Due to volatile market conditions and interest rate movement, the current financial pricing is fluctuating between being in excess or very close to the parameters set by the Town in Ordinance No.5, impacting the ability to move forward with the West Middle Creek project. Council Memo - Residential Single Hauler Municipalization Public Notice Public Comment - Single Hauler Council Memo - West Middle Creek Development Agreement Attachment A. Resolution No. 19 - WMC Development Agreement Council Memo - West Middle Creek Financing Update 4 6.4 Resolution No. 20, Series of 2025, A Resolution Approving the Deed Restriction for West Middle Creek (7:00pm) Approve, approve with amendments, or deny Resolution No. 20, Series of 2025. Presenter(s): Carlie Smith, Finance Director and Jason Dietz, Housing Director Background: Items 6.2, 6.3, and 6.4 will be presented concurrently. 6.5 Amendment to Contract Award with Hyder McHugh for Dobson Arena Final Guaranteed Maximum Price (7:30pm) 20 min. Authorize the Town Manager to execute an amendment to agreement, in a form approved by the Town Attorney, with Hyder McHugh for the Dobson Arena Project in an amount not to exceed $45,774,223.00. Presenter(s): Greg Hall, Public Works Director Background: Items 6.5, 6.6, and 6.7 will be presented concurrently. This item will present to Council the Final Guaranteed Maximum Price with an update on project costs and risks based on pricing of the 100% construction documents. 6.6 Amendment to Agreement with Cumming Group for Dobson Arena Project Owner's Representative Services (7:30pm) Authorize the Town Manager to execute an amendment to agreement, in a form approved by the Town Attorney, with Cumming Group for Dobson Arena owner's representative services in an amount not to exceed $731,000.00. Presenter(s): Greg Hall, Public Works Director Background: Items 6.5, 6.6, and 6.7 will be presented concurrently. 6.7 Contract Award to Ground Engineering for Dobson Arena Construction Testing (7:30pm) Authorize the Town Manager to enter into an agreement, in a form approved by the Town Attorney with ,Ground Engineering for Dobson Arena Construction Testing in an amount not to exceed $129,000.00. Presenter(s): Greg Hall, Public Works Director Background: Items 6.5, 6.6, and 6.7 will be presented concurrently. 6.8 Contract Award to Srada Inc. and IronBric Associates LLC for HR/Payroll Software (7:50pm) 15 min. Attachment A. Ordinance 8 COP Staff Presentation - Updated West Middle Creek Council Memo - WMC Deed Restriction Attachment A. Resolution No. 20 WMC Deed Restriction Attachment B. Deed Restriction Council Memo - Dobson Arena 5 Authorize the Town Manager to enter into a five-year service agreement, in a form approved by the Town Attorney, with Srada Inc. for the Workday HR Payroll system in an amount not to exceed $881,441.00 and IronBrick Associates LLC in an amount not to exceed $1,125,256.00. Presenter(s): Carlie Smith, Finance Director, Krista Miller, HR Director, and Alex Jakubiec, Finance Manager Background: Staff is requesting authorization to enter into a contract for the Workday HR/Payroll system, along with approval for a 2025 supplemental budget request in the amount of $1,125,280.00. 6.9 Ordinance No. 9, Series of 2025, An Emergency Ordinance Temporarily Suspending the Issuance of Building Permits Related to the Conversion of Eating and Drinking Establishments to Retail Establishments in the SBR, SBR- 2, CC-1, CC-2, LMU-1, LMU-2, and PA Zone Districts (8:05pm) 15 min. Approve, approve with amendments, or deny Emergency Ordinance No. 9, Series of 2025. Presenter(s): Matt Gennett, Community Development Director Background: Eating and drinking establishments are critical to the Town's economy and are necessary to promote the goals established in adopted Master Plans. 7.Public Hearings (8:20pm) 7.1 Ordinance No. 10, Series of 2025, First Reading, An Ordinance Rezoning 1476 Westhaven Drive, Lot 53, Glen Lyon Subdivision, from Special Development District No. 4 (Cascade Village) to High-Density Multi-Family (HDMF) (8:20pm) 45 min. Approve, approve with amendments, or deny Ordinance No. 10, Series of 2025 upon first reading. Presenter(s): Heather Knight, Town Planner Background: Coldstream Ltd. is requesting a zone district boundary amendment, pursuant to Section 12-3-7, to allow for the rezoning of 1476 Westhaven Drive, Lot 53, Glen Lyon Subdivision, from Special Development District No.4 (Cascade Village), Area B, to High-Density Multi-Family (HDMF) District. Since there is no underlying zoning, the application to rezone from SDD to HDMF represents a zone district amendment and is not an amendment to the SDD. Approval of this application would remove the property, Area B, from the SDD. Council Memo - Workday HRIS Payroll Software Ordinance No. 9 - Restaurant Conversion Stay Council Memo - Coldstream Ordinance Attachment A. Ordinance No. 10, Coldstream Attachment B. PEC24-0054 Staff Memo Attachment C. PEC Meeting Minutes 2-10-2025 Attachment D. Applicant Presentation - Coldstream Attachment E. PEC24-0054 Application 6 7.2 Ordinance No. 6, Series of 2025, Second Reading, An Ordinance Amending Title 7 of the Vail Town Code by the Addition of a New Chapter 14, to Establish an Automated Vehicle Identification System (9:05pm) 5 min. Approve, approve with amendments, or deny Ordinance No. 6, Series of 2025 upon second reading. Presenter(s): Commander Chris Botkins, Vail Police Department Background: The Vail Police Department is requesting Town Council adopt an ordinance authorizing the use of an Automated Vehicle Identification System to issue speeding tickets at two locations in the Town of Vail. 8.Adjournment (estimated 9:10pm) Staff Presentation - Coldstream Rezone Staff Presentation Council Memo - Automated Vehicle Identification System (AVIS) Ordinance No. 6 - AVIS 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. 7 AGENDA ITEM NO. 2.1 Item Cover Page DATE:April 15, 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 8 From:Ken Marchetti To:PublicInputTownCouncil Subject:Public Input for April 15 Council meeting Date:Friday, April 11, 2025 12:51:36 PM Attachments:Application for Absentee ballot-UA.pdf Hello, My name is Ken Marchetti and I am a candidate for the Eagle County Health Service District (ECHSD) dba Eagle County Paramedics. ECHSD is holding an election on May 6, 2025. This election is a polling place election instead of a mail ballot election and voters can vote at either the Gypsum Recreation Center or the Edwards Fieldhouse. In lieu of in-person voting at the polling places, voters can vote by absentee ballot. In order to vote by absentee ballot, voters must submit an absentee ballot application and will then receive a ballot that can be voted and returned to the District. A copy of the Absentee Ballot Application is attached or may be obtained at this link: https://www.eaglecountyparamedics.com/application-for-absentee-ballot-ceaadef. Ballots must be received by ECHSD by May 6, 2025 in order to be counted. My background is as a CPA with over 30 years of experience in our Valley. My experience includes extensive work with Colorado Special Districts like ECHSD. I am running on a platform of: Financial Expertise Accountability Transparency As I evaluated the current board, I see my ability to bring greater expertise in these areas as an enhancement to this organization and as an opportunity to give something back to the community that has given so much to me. I would appreciate your vote to help make ECHSD a better organization! Ken Marchetti Marchetti & Weaver, LLC Cell (970) 471-1750 9 { 5 APPLICATION FOR ABSENTEE BALLOT FOR THE REGULAR ELECTION TO BE CONDUCTED ON MAY 6, 202 Applications will be accepted until the close of business on the Tuesday immediately preceding the election (April 29, 2025). TO: Designated Election Official Eagle County Health Service District (“District”): I, , whose birth year is _______, am registered to vote pursuant to the "Colorado Uniform Election Code of 1992" and I am: A resident of the District; or The owner (or spouse or civil union partner of owner) of the taxable real or personal property (described below) situated within the boundaries of the District. A person who is obligated to pay taxes under a contract to purchase taxable property within the District shall be considered an owner of taxable property for the purpose of qualifying as an elector. Physical address or description of property: My residence address is , City , Zip Code , County of , State of Colorado. The address for the absentee ballot to be mailed is . I am applying for an absentee ballot for use by me in voting at the regular election to be held on May 6, 2026. If this box is checked, I wish to apply for permanent absentee voter status with the District and receive a ballot for every election conducted by the District. Signature* Name Printed Date **Witnessed By *Application shall be signed personally by the applicant or a family member related by blood, marriage, civil union, or adoption to the applicant. **In case of applicant's inability to sign his/her name, the elector's mark shall be witnessed by another person. IMPORTANT In order for your ballot to be counted it must be received by the Designated Election Official or an Election Judge by 7:00 p.m. on the day of the election. If you have questions please contact Veronica Ross, Designated Election Official at vross@ecparamedics.com or by telephone at 970-569-4222. Completed application for absentee ballots can be emailed to elections@ecparamedics . 00917461.DOC / } Ross, Designated Election Official at vross@ecparamedics.com or by telephone at 970-569-4222. elections@ecparamedics 10 From:Thad King To:CommDev; PublicInputTownCouncil Subject:Fwd: Cornerstone Development Application Date:Wednesday, April 9, 2025 12:38:14 PM Begin forwarded message: From: Thad King <thaddking@gmail.com> Subject: Re: Cornerstone Development Application Date: April 9, 2025 at 2:27:24PM EDT To: George Ruther <george@rutherassociates.com> Cc: Tom McDonnell <mcd911@icloud.com>, Lorenza Chico <paperflymx@gmail.com>, Alonso Ruiz de Velasco <arv@phh.com.mx>, Doug Williams <doug.williams@phh.com.mx>, David Foster <david@fostergraham.com> George, I must say I am more than disappointed that your client PHH has for the second time cancelled a scheduled meeting with representatives from Liftside, with less than 24 hours notice. The first time was on January 14th when Alonso was in town for a "neighborhood presentation" at the Grand Hyatt to present proposed plan modifications prior to submission to the PEC. At your request, we scheduled for him to visit representatives of Liftside onsite to discuss our concerns with the proposed project. I flew in from Atlanta, Lore flew in from Mexico City, our Liftside neighbors Angie and Paul Martino arranged for their counsel to drive up from Denver and then Alonso failed to show up (instead sending Doug Williams, who had been employed by PHH less than a week and thru no fault of his own had very little knowledge about the proposed project). This is now the second time, apparently because PHH wants to mandate who representing Liftside can and cannot attend a meeting to understand plans that are being submitted to the PEC. It would appear that the Cornerstone developer wishes to punish its neighbors by not showing their proposed modifications until a public meeting next week. If you have plans that will be submitted to the PEC on Monday, please forward them to this group to review in advance of surprising us at the meeting. We will send them to our own professionals to review. Thad Cc: Town of Vail PEC Town Council of Vail 11 From:Alex Sciaruto To:Council Dist List Subject:Comment Against TOV Paid Summer Parking Date:Thursday, April 3, 2025 10:02:28 AM Hello, my name is Alex Sciaruto, and I have been lucky to live in West Vail for the past 6 years. I strongly disagree with charging for summer parking in lionshead and vail village. The summers here are historically off season. We have seen a rise in tourism post covid however I do not believe these trends will continue in our current economic climate. The impact that any paid parking will have on Vail’s reputation will reduce traffic to Vail. I feel as though the town of Vail treats employees as an externality when making these decisions. We don’t want this. I understand the parking structure needs 10 million dollars in renovations. I question why employees should bear the costs when our wages are already low compared to the cost of living and heavily reliant on a strong tourism economy. The town of Vail talks a big game about how the turnover rate is high in this valley and how great the need is to keep employees in the valley, yet you all make decisions that make locals feel unwelcome. If this is something you really want to peruse, I believe it should be done by voter referendum. Thank you, Alex Sciaruto 12 AGENDA ITEM NO. 4.1 Item Cover Page DATE:April 15, 2025 SUBMITTED BY:Missy Johnson, Housing ITEM TYPE:Resolution AGENDA SECTION:Consent Agenda (6:10pm) SUBJECT:Resolution No. 17, Series of 2025 A Resolution Approving a Mutual Release of Restrictive Covenant between the Town of Vail and Spadafora Declaration of Trust SUGGESTED ACTION:Approve, approve with amendments, or deny the Resolution No. 17, Series of 2025. VAIL TOWN COUNCIL AGENDA ITEM REPORT ATTACHMENTS: Resolution No. 17 - Release of Deed Restriction Attachment A. Amendment to Restrictive Covenants, 2349 Chamonix Lane Attachment B. Release of Deed Restriction 13 RESOLUTION NO. 17 Series of 2025 A RESOLUTION APPROVING A MUTUAL RELEASE OF RESTRICTIVE COVENANT BETWEEN THE TOWN OF VAIL AND SPADAFORA DECLARATION OF TRUST WHEREAS, the Town of Vail (the “Town”), in the County of Eagle and State of Colorado is a home rule municipal corporation duly organized and existing under the laws of the State of Colorado and the Town Charter (the “Charter”); WHEREAS, the members of the Town Council of the Town (the “Council”) have been duly elected and qualified; WHEREAS, Spadafora Declaration of Trust, on behalf of Sam Spadafora (the “Releasee”) is the owner of that certain property (“the Property”) located within the Town of Vail, Eagle County, Colorado, with a physical address of 2349 Chamonix Lane, Vail, Colorado 81657; WHEREAS, a restrictive covenant (“Restrictive Covenant”) was recorded against the Property for the sole purpose of creating an employee housing unit within the Town of Vail as provided in Chapter 12-13, Vail Town Code; WHEREAS, said Restrictive Covenant was recorded against the Property in the records of the Clerk and Recorder of Eagle County, Colorado on July 31, 1991, and subsequently amended on September 4, 1992, by mutual agreement; WHEREAS, The Town is the beneficiary of said Restrictive Covenant; WHEREAS, Releasee and the Town, pursuant to Section 12-13-5 of the Vail Town Code, wish to mutually release the Restrictive Covenant in exchange for a fee in lieu payment of $180,000 (the “Fee in Lieu Payment”); and WHEREAS, on April 8, 2025, the Vail Local Housing Authority held a public hearing on the EHU exchange application and has forwarded its unanimous recommendation of approval of the request to the Vail Town Council. NOW, THEREFORE, be it resolved by the Town Council of the Town of Vail, Colorado: Section 1. The Council hereby approves the Mutual Release of Restrictive Covenant and authorizes the Town Manager to execute the Mutual Release of Restrictive Covenant Agreement on behalf of the Town in substantially the same form as attached hereto as Exhibit A and in a form approved by the Town Attorney upon compliance with the following conditions: 14 1.Payment of the Fee in Lieu Payment to the Town of Vail, 2. Approval of a design review application verifying the changes in GRFA to the Property, and 3. The removal of the kitchen facilities from within the existing EHU on the Property Section 2. This Resolution shall take effect immediately upon receipt of the Fee in Lieu Payment by the Town of Vail and the execution and recording of the Mutual Release of Restrictive Covenant Agreement INTRODUCED, READ, APPROVED AND ADOPTED this 15th day of April, 2025. Travis Coggin, Mayor ATTEST: Stephanie Johnson, Acting Town Clerk 15 yl 20 - r,A i^4~ ~ J t AMENDMENT TO RESTRICTIVE COVENANTS C).~ 51~~"4- WHEREAS Gary Rothbart, Ceil Rothbart, David Schwartz, and Abby Schwartz ("the Owners") placed restrictive covenants ("the covenants") on the use of Lot 12, Block A Ln Resubdivision of Vail das Schone, Filing No. 1, 2349 Chamonix Drive, Vail, Colorado 81657, and co recorded the covenants on the Land Record of Eagle County on 7/31 /91, at Book 559, Page 101; w and WHEREAS said covenants may be amended with the written consent of the Town of Vail mj-- and the Owner of the subject property; and WHEREAS, the Owners and the Town of Vail wish to amend said restrictions as set forth o below. NOW THEREFORE, the Parties agree as follows: 1.Paragraph 1 of the covenants is hereby amended to read as follows: G 1.The subject property shall contain a secondary employee dwelling unit. The secondary employee dwelling unit shall be substantially in the configuration set forth in Exhibit A, or in the alternative, Exhibit B, both of which are attached and incorporated herein by M reference. Under no circumstances shall the employee dwelling unit contained in the subject Gr) properly have fewer square feet than set forth in the plans and specifications attached as Exhibit A.G ~ G Ci G ~ 2.All other terms and conditions of the covenants shall remain in full force and effect. ACCEPTED: THE TOWN OF VAIL, a municipal corporation By: Rondall V. Phillips, Town Ma ger THE FOREGOING INSTRUMENT WAS ACKNOWLEDGED BEFORE ME THIS ~y day of Auc&sr 1992, by Rondall V. Phillips, Town Manager. B y Nofary Public ppqW8, oEro, t~art~y ~c COtmisWon Exires SeptemdW 26,1995 My commission ex pires: 75 s. Frordage Road, val, co 81657 I~INIIIIIIIIIINIIHIINI IIIIIINIII~III~III~IITCKO000I02 7« 16 By: aryR hbart By: Ceil Rothbart THE FOREGOING INSTRUMENT WAS ACKNOWLEDGED BEFORE ME THIS '!~L day of AuGbsr 1992, by GA,cy RorHBAkr A-nib c'~~L AortidA,e,r 1w"°"BYXzl Notary Public OORIANE S. OEM. Nofty Pubpc ri ARfy commission expires:_rn~^,~~~0"e~ nvw ~~ p~, ~a VaiL ~M Q~eGeLVJiMr ; W V7 L~ By: David Schwartz By: jlk, L6aall Abby S wartz THE FOREGOING INSTRUMENT WAS ACKNOWLEDGED BEFORE ME THIS2/ day of qvc4sr , 1992, by hAvio scbvA-,¢.Tz 4*Dy sC#avirk 7-2- By otary Public r0~1Ei~f0. I~r~ ~ My'commission expires:CO 657 e a;• , 484574 8-588 F'-473 U5%,,"C74,,,'~;,4' 11 vc7c~PC 2 OF 4 C:WOTHBART.AMN 17 RQ'iHBART-SCHWARTZ aECOVPD jtJ L i 3 199Z EXHIBIT SECONDARY EMPLOYED WELLING LOT 12 - BLOCK A RESUBDIVISION OF VAL DAS SCHONE FILING #1 2349 CHAMONIX DRIVE VAIL, CO 81657 cr) 41 Ln to s Ln cri ce Q Y V p,'~T BOn amv~oom 4 t1D't '~;r 6~ 6~~00 r!'!Z 9~i!( S 2= u m. 1'ClRT P c,a'ry 16 t~? 2` 64PLt5 BWROOM 4 0-1 'Awl' S/N p IJ7E V? wN t¢g 1 J• M.I TG E N qp•p p ELtv ON EnC BED. 4LL~YTHF W~ ~ AI'p 45 i 24 e sxirr 4, awu eanw m RAl'ac CLOSET O1 NG c~ Fl 6E p" WALr-40 AKIEN V,au. fOtt'DATl7M ~ 46 18 F:OTABART-SCHWARTZ 0 EXHIBIT SECONDARy EMpLOYEE DWELLING LOT 12 - BLOCR A RECEIVtD JULRESIIBDIVISIONOFVALDASSCHONE FILING #1 2349 CHAMONIX DRIVE VAIL, CO 81657 rb N G I co 41- i y.' 7~ Y g ~ w?~ T G y BOT'~ C • 00'~ Q c• G., 's 3 y,t.. 2=V~f rq~ u ALL D L'S 8 RO J 2E Ar 4N I pQcy~pE M rAL T I r 13LJ ftE4tJ1?g J• 5A I TG N pF•pL fi9JJELhvATION PLAEhCLDH •A{ L nR~ AIID 1• O 2` 45 FA~ic CLOr'. 'f~ 57 i G Fi'C~A~T ~OC?arco~ LF~r OF ra+-- z aNe.ar- . doo b 6 e., OP i4-5~e Qna~Ne~j, i 19 T 1X CVU Ou34i.7c.i~ own of Vai1 DOCMAY-~9-91 WED 16'43 f~ FG 1OF 3 EC '~ r1 .I8-.18 I5.t7c~c?.c~t~ F-.i c71 t77r'31,,~RkC:z7L t~F•'t~C~t~ 4ssz3~. B F~cc.E ~:OL,r~TY c~.~, I (o J~HtVNET7E fiH.TLL.TPS r RESTRICTIVE COVENA1dTS 1 1 the owner of the property WHEREAS, Gary Rothbart, Ceil Rothbart, David Schwartz, Abby Schwartz described as: Lot 12 Block A Resubdivision of Vait Das Schone, Filing #1 2349 Chamonix Drive, Vail, CO 81657 ra ertyn; and here~.n refer~'ea tQ as the "subject p P owner wishes to place certain restrictions on theusa WHEgEp,g, the for the benefit of the awner and the Town of Vail, vf the subjeat land Colorado ("the Town")•estabiisn,impose, NOW? THEREkORE, the owner daes hereby ersvns who may acknowledge, declare, for thO bertefit af all P the folldwin9 or hold the sub7 ect ~.and, hereinafter purchase, or lease, tQ and cortditians, all of wnich shall be deemed restrictixons, covena..,. u on ~rie e land and inure ta the benefit anc~ be binding P to run wxtb th and assigns. rantees, successors, owner, its respeative q c:mPloYee dwelling ur?it 1. The subject property haS a seeondary n~h~ ~~P~ax~,~p~,~~! Siz~ Ot Four Hundred Fift_450 square feet. i Gt p~r~y shall not The seoondary OmPloyee unit ~.oaated dt~ the sub) w~lling from the primazY be sold, transferred, ar cvnveyed separately b'eo~ p~aperty for a period af more than twenty unit locatec~ an ~e s'~ ~ fram the date that the 20) years and the life of Tiffany Lc~wenthal? employee dwellinq tificate of oCCUpancy i5 issuea for said seconc~ax'Y oer unit•u~i~ ~hall not be Ieased or 2. The secondary emploYee dweiling if it od of less than thirty (30) consecut~.vef and, timerentedforanyperi Sha11 be rented only to tenants who are gull- shall be rented, it empZoyees of the UPP The UPPe= Eag~`e V$lley shall be e~ Eagle Va11ey• deemed ta inalude the Gare Valley, Minturn, Red Cliff, Gilman, Eag 20 ti !!vv.J 11 VL111 4vv 455231 R-559 F-101 07,," 31.." 91 16:18 fiG 2 OF 3 Vail, and Avon, and their surrounding areas. A full-time efiployee is a person who wvrks an average of thirty (30) hours per week, 3. The secondary dwelling unit $hall-nvt be di,vided into any form of time shares, interva2 ownership, or fractional fee ownership. 4. The pravfsions hereof may be enforced by the owner and the Town. 5. The conditions, restrici,iviis, si:fpulat;C„i5, ss?u ayjeEmeri-I.s contained herein &hall not be waived, abaadoned, terminated, or amended, except by the wrftGen consent of both the Town of Vail and the owner of the subject property.p F-~ TOWN F VAIL, COLORADQ By. . ondall V. Phillips, ToWn anagex ACItAiiOWLEDGMENT dayheforegox~g instrument was ac nowledged before me this af bY r, dc', Jf c ub~.c cC Addres a 5 qq~y con~t~a'fiisori expires: r: PROFERTY OWNER Gary Rothbart Ceil Rothba By: By: ACIdNOWLEDGED The fQregoing instrument was acknowledged before me this 1~OYI day a f 19 9 D , by 14KY /Rrnit 60,c-r i _'Rcn-~t ~~9•c~ otar Public A+ 15 Address L0gi Hi2Ock, 1C;_~QO(.~~-535~ My commissian expires: `~SEb . a(~) lQcA"a" L9L4DSi H A. CAiLANAN KOMW PU's3;.1C:°,7°A'fiE dP 5L9.IN035 Bff C(3~IMlS5ION UP. PEH_ 2S,y994 t- 21 455231 R-559 F'-1 t?.t 07,1'31,,%91 1 6:1 8 F'G 3 c7F 3 PROPERTY OWNER David Schwartz Abby Schwartz Byt N By :y~ F, ACKNOWLEDGED The foregoing instrument was acknowledged before me this day of 1991, by Notary Publ h-o y7.0 3 Address C.A., My commission expires: 22 r WINE A Nttx uNr i J~ ~ JUN 1 ~0'199~. ILLIPS EASLE CAl1NTY CLEW( 551 BROADiIAY FGp F, CO 81631 1'OWON OF VAIL 7l31/91 13:24 RE6t 01 RECMiNG 10.00 RECORDIN6 15.00 TOTAL IXE 25.00 DECK 5700337-67783 25.00 CI.Ept# 1 ST# 1 IMti 47386 HEA61.E CUiT1f CLEp( W ECOMH TliAMK Y011O 23 ____________________________________ RUTHER ASSOCIATES LLC P.O. Box 6516, Vail, CO. 81658 (970) 376-2675 george@rutherassociates.com I. Description of the Request The applicant, Sam Spadafora, on behalf of Spadafora Declaration of Trust, the ownership entity of the residential property located at 2349 Chamonix Lane, Vail, CO, is requesting approval of an EHU exchange application (TC25-003), consistent with the provisions of Section 12-13-5, Employee Housing Unit Deed Restriction Exchange Program, of the Vail Town Code. The applicant is requesting the release of the original recorded deed restriction, dated July 31, 1991, as amended, dated September 4, 1992, on an existing 450 square foot EHU in exchange for a fee in lieu payment of $180,000 to the Town of Vail. II. Background On July 31, 1991, an EHU deed restriction was executed and recorded between the Town of Vail and then property owners Gary Rothbart, Ceil Rothbart, David Schwartz, and Abby Schwartz. On September 4, 1992, the EHU deed restriction was subsequently amended by mutual agreement. The purpose of the amendment was to acknowledge options for the completion of the interior square footage of the secondary dwelling unit (i.e. EHU). The deed-restricted dwelling unit is a one bedroom, one bathroom home located within the residence located at 2349 Chamonix Lane. According to the recorded deed restriction, the deed-restricted dwelling unit is 450 square feet in size and, if leased, should be leased to and occupied by tenants who are full-time employees who work in Eagle County. The deed-restriction is set to expire 20 years from the date of execution of the agreement, plus the life of Tiffany Lowenthal. Unless Tiffany Lowenthal lives in perpetuity, at some point in time, the deed restriction shall terminate. Exchanges of recorded deed restrictions are permitted subject to the terms and provisions of Section 12-13-5, Employee Housing Unit Deed Restriction Exchange Program, of the Vail Town Code. According to the Vail Town Code, “The exchange program allows the Town Council to release a deed restriction from an existing employee housing unit in exchange for the placement of an employee housing deed restriction on another dwelling unit and/or a fee in lieu payment made to the Town of Vail.” Historically, the Town of Vail and Vail Local Housing Authority have successfully relied upon this program of the Vail Town Code to advance the Town’s housing policies and adopted 24 ____________________________________ housing goal of the Vail community to better ensure the occupancy of deed-restricted homes for Vail residents. Created in 2008, the exchange program has resulted in dozens of net new, deed-restricted homes within the Vail community. According to Section 12-13-5, (C), of the Vail Town Code, the existing EHU is located within the mapped area of the Commercial Job Core. Further, the Town Code states, “if the exchange EHU is outside the commercial job core and the proposed EHU(s) is outside of the commercial job core, the gross residential floor area (GRFA) of the proposed EHU(s) shall be a minimum of two times the gross residential floor area (GRFA) of the exchange EHU.” As such, per Section 12-13-5(c) of the Vail Town Code, a proposed exchange needs to accommodate 900 square feet (450 sq. ft. @ 2x exchange rate multiplier) of net new, deed- restricted, gross residential floor area (GRFA). III. EHU Exchange Proposal The applicant is proposing to provide the Town of Vail a fee in lieu payment in the exchange for the release and termination of the deed restriction recorded at the property located at 2349 Chamonix Lane. The applicant is offering to grant the Town of Vail $180,000 to facilitate the Town’s acquisition of at least 900 square feet of GRFA, or $200 per square foot and secure a new “performing” deed restriction(s). The $180,000 would be paid to the Town of Vail upon the recording of a mutually executed release and termination of deed restriction with Eagle County Clerk & Recorder’s office. This amount is equal to 20% of the fair market value (FMV) of free-market residential square footage at a market value of $1,000 per square foot. Based upon the Town’s five most recent home purchases for deed restriction purposes, the average FMV per square foot was $884.26 ($200/sq.ft. equals 23% of ave. FMV). Historically speaking, through the Vail InDEED Deed Restriction Purchase Program, the Vail Local Housing Authority and the Vail Town Council have successfully acquired deed restrictions for 18% - 20% of FMV of the home. With this in mind, the grant of $180,000 more than adequately allows the Town to acquire at least 900 square feet of new deed-restricted GRFA. Moreover, unlike other deed restrictions previously exchanged, given the terms of this deed restriction, it is a matter of time before the deed restriction expires on its term and all value to the Town of Vail is forfeited. IV. Recommendation The applicant has demonstrated compliance with the applicable provisions of the Vail Town Code. To that end, the applicant recommends that the Vail Local Housing Authority and the Vail Town Council approve the EHU exchange application, as presented. In doing so, the applicant has demonstrated the following: • that the proposed EHU exchange furthers the Town’s adopted housing goal and aligns with the Town’s adopted housing policy statements, 25 ____________________________________ • that the grant of $180,000 in payment in lieu funds adequately affords the Vail Local Housing Authority and Vail Town Council the opportunity to acquire at least 900 square feet of net new deed-restricted homes, • that the EHU exchange application complies with the provisions of Section 12-13-5 of the Vail Town Code as demonstrated in the EHU exchange application on file with the Town of Vail, and • that the EHU exchange program is an effective tool to increase the supply of new deed restrictions within the Vail community in partnership with private sector partners, which in this case is at a 2 times multiplier. Further, on April 8, 2025, the Vail Local Housing Authority held a public meeting on the proposed EHU exchange application. Upon review of the application materials, the Authority members were unanimous (4-0) in forwarding a recommendation of approval to the Vail Town Council of the application, as presented. In doing so, the Authority members: 1) acknowledged the justification for the proposed payment in lieu fee amount, 2) reaffirmed the added value gained by the Town given the 2x multiplier applied, and 3) encouraged the Town Housing Department to pursue similar opportunities when possible. The Authority members recommended that the payment in lieu fee be deposited in the Town Housing Fund, or similar reinvestment accounts, and used to increase the supply of deed restrictions in the Town of Vail. 26 AGENDA ITEM NO. 4.2 Item Cover Page DATE:April 15, 2025 SUBMITTED BY:Martha Anderson, Housing ITEM TYPE:Resolution AGENDA SECTION:Consent Agenda (6:10pm) SUBJECT:Resolution No. 18, Series of 2025, A Resolution Approving the Purchase of Residential Property SUGGESTED ACTION:Approve, approve with amendments, or deny Resolution No. 18, Series of 2025. VAIL TOWN COUNCIL AGENDA ITEM REPORT ATTACHMENTS: Council Memo - Pitkin Creek Park Unit 7N Resolution No. 18 - Purchase of Real Property Attachment A. Contract to Buy Real Estate, Counterproposal & Agreement to Amend-Extend Purchase of 3971 Bighorn Road Unit 7N 27 To: Vail Town Council From: Jason Dietz, Housing Director Martha Anderson, Senior Housing Coordinator Date: April 15, 2025 Subject: Resolution No. 18, Series of 2025, Authorization to Fund the Purchase of Pitkin Creek Park Condominium, Unit 7N, 3971 Bighorn Road, Vail, Colorado 1. SUMMARY The purpose of this memorandum is to present the terms for consideration authorizing the purchase of the residential property known as Pitkin Creek Park Condominium, 7N, 3971 Bighorn Road, Vail, Colorado, 81657. A real estate contract to purchase the home has been accepted by the sellers, subject to authorization to appropriate funds by the Vail Town Council. This resolution advances the Vail Town Council’s critical action of achieving the adopted housing goal of acquiring 1,000 new deed restrictions by the year 2027. 2. BACKGROUND Pitkin Creek Park Condominium Unit 7N is a 684 square foot, one bedroom/one bathroom, located in West Vail with convenient access to recreation, a convenience store, and to free Town of Vail public transit. The home includes unassigned parking, plus additional guest parking. Monthly association dues are approximately $469 and include common area maintenance, common area insurance, management, snow removal, sewer, trash and water. The home is under contract to purchase at $539,900, subject to Vail Town Council authorization to fund the purchase. The Town will close on the purchase of the home on or about May 7, 2025. Pitkin Creek Park Condominium Unit 7N is deed restricted with a Vail InDEED deed restriction. The Town purchased this deed restriction from John Russell on 3/31/2023 at a price of $119,700 which was 19% of the purchase price paid by Mr. Russell or $630,000. Mr. Russell committed suicide in summer of last year. Mr. Russell’s heirs are two daughters, one in college and the other one just graduated from college. Both are unable to pay for the mortgage and expenses related to this property and don’t live in the Valley. Mr. Russell’s estate has been actively trying to sell this unit in the open market without success and his hers are now facing the possibility of foreclosure. The purchase price of $539,900 accounts for the outstanding liabilities the seller must settle to transfer the property free and clear. To protect the Town’s investment and deed restriction in this property and avoid the strained process and legal fees involved in a foreclosure, Town staff is recommending purchasing this 28 Town of Vail Page 2 unit, change the deed restriction to a price cap deed restriction, subsidize it and resale it back to the community in a lottery. An initial inspection of the property has been completed with no major issues but a couple of safety concerns, one involving the fireplace and another the cooktop. Town staff is currently researching more about these items, requesting quotes from vendors and possibly negotiating with the seller to address concerns into the purchase price. 3. RECOMMENDATIONS The proposal for purchase recommends the following: 1) Authorize the appropriations of funds necessary to acquire the home for $539,900, plus closing costs (estimated at $7,114.86 and including past due HOA fees). 2) Funds for the purchase would come from the Town’s housing fund buydown program. 3) Closing will occur on or about May 7, 2025. 4) Total amount requested is $539,900, plus closing costs. 4. NEXT STEPS If authorized, Town staff will take the steps necessary to comply with the terms of the contract for purchase of the residential property. Closing and possession of the property is presently set for May 7, 2025. 5. ACTION REQUESTED Does the Vail Town Council authorize the appropriation of the funds necessary to facilitate the Town’s purchase of Pitkin Creek Park Condominium, Unit 7N, 3971 Bighorn Road, Vail, Colorado, consistent with the recommendation outlined herein? 6. EXHIBITS Exhibit A Contract to Buy and Sell Real Estate 29 RESOLUTION NO. 18 Series of 2025 A RESOLUTION APPROVING THE PURCHASE OF RESIDENTIAL PROPERTY WHEREAS, (“Owner”) is the owner of certain residential property located in Vail, Colorado (the “Property”); and WHEREAS, the Town wishes to purchase the Property from Owner, and Owner wishes to sell the Property to the Town, pursuant to the terms of the Contract to Buy and Sell Real Estate, attached hereto as Exhibit A and incorporated herein by this reference (the “Contract”). NOW THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF VAIL, COLORADO THAT: Section 1. The Town Council hereby approves the Contract in substantially the same form attached hereto as Exhibit A and in a form approved by the Town Attorney, authorizes the appropriation of the funds necessary to complete the purchase of the Property and authorizes the Town Manager to execute the Contract 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 15th day of April, 2025. ________________________________ Travis Coggin, Mayor ATTEST: _________________________________ Stephanie Johnson, Acting Town Clerk 30 Date: 3/20/2025 Berkshire Hathaway HomeServices Colorado Properties Danean Boukather Ph: 970-476-2482 Fax: 970-476-6499 The printed portions of this form, except differentiated additions, have been approved by the Colorado Real Estate Commission. (CBS1-8-24) (Mandatory 8-24) THIS FORM HAS IMPORTANT LEGAL CONSEQUENCES AND THE PARTIES SHOULD CONSULT LEGAL AND TAX OR OTHER COUNSEL BEFORE SIGNING. CONTRACT TO BUY AND SELL REAL ESTATE (RESIDENTIAL) AGREEMENT 1.AGREEMENT. Buyer agrees to buy and Seller agrees to sell the Property described below on the terms and conditions set forth in this contract (Contract). 2.PARTIES AND PROPERTY. 2.1. Buyer. Town Of Vail (Buyer) will take title to the Property described below as Joint Tenants Tenants In Common Other TBD. 2.2. No Assignability. This Contract IS NOT assignable by Buyer unless otherwise specified in Additional Provisions. 2.3. Seller. John James Russell (Seller) is the current owner of the Property described below. 2.4. Property. The Property is the following legally described real estate in the County of Eagle, Colorado (insert legal description): PHASE III Subdivision: PITKIN CREEK PARK Unit: 7-N known as: 3971 Bighorn Road, 7-N Vail, CO 81657 together with the interests, easements, rights, benefits, improvements and attached fixtures appurtenant thereto and all interest of Seller in vacated streets and alleys adjacent thereto, except as herein excluded (Property). 2.5. Inclusions. The Purchase Price includes the following items (Inclusions): 2.5.1. Inclusions – Attached. If attached to the Property on the date of this Contract, the following items are included unless excluded under Exclusions: lighting, heating, plumbing, ventilating and air conditioning units, TV antennas, inside telephone, network and coaxial (cable) wiring and connecting blocks/jacks, plants, mirrors, floor coverings, intercom systems, built-in kitchen appliances, sprinkler systems and controls, built-in vacuum systems (including accessories) and garage door openers (including 0 remote controls). If checked, the following are owned by the Seller and included: Solar Panels Water Softeners Security Systems Satellite Systems (including satellite dishes). Leased items should be listed under § 2.5.8. (Leased Items). If any additional items are attached to the Property after the date of this Contract, such additional items are also included in the Purchase Price. 2.5.2. Inclusions – Not Attached. If on the Property, whether attached or not, on the date of this Contract, the following items are included unless excluded under Exclusions: storm windows, storm doors, window and porch shades, awnings, blinds, screens, window coverings and treatments, curtain rods, drapery rods, fireplace inserts, fireplace screens, fireplace grates, heating stoves, storage sheds, carbon monoxide alarms, smoke/fire detectors and all keys. 2.5.3. Other Inclusions. The following items, whether fixtures or personal property, are also included in the Purchase Price: CBS1-8-24. CONTRACT TO BUY AND SELL REAL ESTATE (RESIDENTIAL)Page 1 of 24 3/31/2025 12:04:00 PM CTMeContracts.com - ©2025 MRI Software LLC EXHIBIT A 31 ENERGY STAR Qualified Dishwasher; ENERGY STAR Qualified Refrigerator; Microwave; Range If the box is checked, Buyer and Seller have concurrently entered into a separate agreement for additional personal property outside of this Contract. 2.5.4. Home Warranty. Seller and Buyer are aware of the existence of pre-owned home warranty programs that may be purchased and may cover the repair or replacement of certain Inclusions. 2.5.5. Encumbered Inclusions. Any Inclusions owned by Seller (e.g., owned solar panels) must be conveyed at Closing by Seller free and clear of all taxes (except personal property and general real estate taxes for the year of Closing), liens and encumbrances, except: n/a Buyer Will Will Not assume the debt and obligations on the Encumbered Inclusions subject to Buyer’s review under §10.6. (Encumbered Inclusion Documents) and Buyer’s receipt of written approval by such lender before Closing. If Buyer does not receive such approval this Contract terminates. 2.5.6. Personal Property Conveyance. Conveyance of all personal property will be by bill of sale or other applicable legal instrument. 2.5.7. Parking and Storage Facilities. The use or ownership of the following parking facilities: Unassigned parking; and the use or ownership of the following storage facilities: n/a Note to Buyer: If exact rights to the parking and storage facilities is a concern to Buyer, Buyer should investigate. 2.5.8. Leased Items. The following personal property is currently leased to Seller which will be transferred to Buyer at Closing (Leased Items): n/a Buyer Will Will Not assume Seller’s debt and obligations under such leases for the Leased Items subject to Buyer’s review under §10.6. (Leased Items Documents) and Buyer’s receipt of written approval by such lender before Closing. If Buyer does not receive such approval this Contract terminates. 2.5.9. Solar Power Plan. If the box is checked, Seller has entered into a solar power purchase agreement, regardless of the name or title, to authorize a third-party to operate and maintain a photovoltaic system on the Property and provide electricity (Solar Power Plan) that will remain in effect after Closing. Buyer Will Will Not assume Seller’s obligations under such Solar Power Plan subject to Buyer’s review under §10.6. (Solar Power Plan) and Buyer’s receipt of written approval by the third-party before Closing. If Buyer does not receive such approval this Contract terminates. 2.6. Exclusions. The following items are excluded (Exclusions): n/a 2.7. Water Rights/Well Rights. 2.7.1. Deeded Water Rights. The following legally described water rights: n/a Any deeded water rights will be conveyed by a good and sufficient n/a deed at Closing. 2.7.2. Other Rights Relating to Water. The following rights relating to water not included in §§ 2.7.1., 2.7.3. and 2.7.4., will be transferred to Buyer at Closing: n/a 2.7.3. Well Rights. Seller agrees to supply required information to Buyer about the well. Buyer understands that if the well to be transferred is a “Small Capacity Well” or a “Domestic Exempt Water Well” used for ordinary household purposes, Buyer must, prior to or at Closing, complete a Change in Ownership form for the well. If an existing well has not been registered with the Colorado Division of Water Resources in the Department of Natural Resources (Division), Buyer must complete a registration of existing well form for the well and pay the cost of registration. If no person will be providing a closing service in connection with the transaction, Buyer must file the form with the Division within sixty days after Closing. The Well Permit # is n/a. 2.7.4. Water Stock. The water stock to be transferred at Closing are as follows: n/a CBS1-8-24. CONTRACT TO BUY AND SELL REAL ESTATE (RESIDENTIAL) Page 2 of 24 3/31/2025 12:04:00 PM CTMeContracts.com - ©2025 MRI Software LLC 32 Tuesday Tuesday Tuesday Tuesday Tuesday Tuesday Friday Tuesday Tuesday 2.7.5. Conveyance. If Buyer is to receive any rights to water pursuant to § 2.7.2. (Other Rights Relating to Water), § 2.7.3. (Well Rights), or § 2.7.4. (Water Stock Certificates), Seller agrees to convey such rights to Buyer by executing the applicable legal instrument at Closing. 2.7.6. Water Rights Review. Buyer has a Right to Terminate if examination of the Water Rights is unsatisfactory to Buyer on or before the Water Rights Examination Deadline. 3. DATES, DEADLINES AND APPLICABILITY. 3.1. Dates and Deadlines. Item No.Reference Event Date or Deadline 1 § 3 Time of Day Deadline n/a 2 § 4 Alternative Earnest Money Deadline 5 Business day's after MEC Title 3 § 8 Record Title Deadline (and Tax Certificate)4/1/2025 4 § 8 Record Title Objection Deadline 4/8/2025 5 § 8 Off-Record Title Deadline 4/1/2025 6 § 8 Off-Record Title Objection Deadline 4/8/2025 7 § 8 Title Resolution Deadline 4/15/2025 8 § 8 Third Party Right to Purchase/Approve Deadline n/a Owners' Association 9 § 7 Association Documents Deadline 4/1/2025 10 § 7 Association Documents Termination Deadline 4/4/2025 Seller's Disclosures 11 § 10 Seller’s Property Disclosure Deadline 4/1/2025 12 § 10 Lead-Based Paint Disclosure Deadline 4/1/2025 Loan and Credit 13 § 5 New Loan Application Deadline n/a 14 § 5 New Loan Terms Deadline n/a 15 § 5 New Loan Availability Deadline n/a 16 § 5 Buyer’s Credit Information Deadline n/a 17 § 5 Disapproval of Buyer’s Credit Information Deadline n/a 18 § 5 Existing Loan Deadline n/a 19 § 5 Existing Loan Termination Deadline n/a 20 § 5 Loan Transfer Approval Deadline n/a 21 § 4 Seller or Private Financing Deadline n/a Appraisal 22 § 6 Appraisal Deadline n/a 23 § 6 Appraisal Objection Deadline n/a 24 § 6 Appraisal Resolution Deadline n/a Survey CBS1-8-24. CONTRACT TO BUY AND SELL REAL ESTATE (RESIDENTIAL) Page 3 of 24 3/31/2025 12:04:00 PM CTMeContracts.com - ©2025 MRI Software LLC 33 Thursday Thursday Thursday Monday Tuesday Tuesday Tuesday Friday Wednesday Wednesday Wednesday 25 § 9 New ILC or New Survey Deadline n/a 26 § 9 New ILC or New Survey Objection Deadline n/a 27 § 9 New ILC or New Survey Resolution Deadline n/a Inspection and Due diligence 28 § 2 Water Rights Examination Deadline n/a 29 § 8 Mineral Rights Examination Deadline n/a 30 § 10 Inspection Termination Deadline 4/10/2025 31 § 10 Inspection Objection Deadline 4/10/2025 32 § 10 Inspection Resolution Deadline 4/17/2025 33 § 10 Property Insurance Termination Deadline 4/14/2025 34 § 10 Due Diligence Documents Delivery Deadline 4/1/2025 35 § 10 Due Diligence Documents Objection Deadline 4/8/2025 36 § 10 Due Diligence Documents Resolution Deadline 4/15/2025 37 § 10 Conditional Sale Deadline n/a 38 § 10 Lead-Based Paint Termination Deadline 4/4/2025 Closing and Possession 39 § 12 Closing Date 5/7/2025 40 § 17 Possession Date 5/7/2025 41 § 17 Possession Time Delivery of deed & good funds 42 § 27 Acceptance Deadline Date 3/26/2025 43 § 27 Acceptance Deadline Time 5:00 PM(MST) 44 n/a n/a n/a 45 n/a n/a n/a Note: If FHA or VA loan boxes are checked in § 4.5.3. (Loan Limitations), the Appraisal deadlines DO NOT apply to FHA insured or VA guaranteed loans. 3.2. Applicability of Terms. If any deadline blank in § 3.1. (Dates and Deadlines) is left blank or completed with “N/A”, or the word “Deleted,” such deadline is not applicable and the corresponding provision containing the deadline is deleted. Any box checked in this Contract means the corresponding provision applies. If no box is checked in a provision that contains a selection of “None”, such provision means that “None” applies. The abbreviation “MEC” (mutual execution of this Contract) means the date upon which both parties have signed this Contract. The abbreviation “N/A” as used in this Contract means not applicable. 3.3. Day; Computation of Period of Days; Deadlines. 3.3.1. Day. As used in this Contract, the term “day” means the entire day ending at 11:59 p.m., United States Mountain Time (Standard or Daylight Savings, as applicable). Except however, if a Time of Day Deadline is specified in § 3.1. (Dates and Deadlines), all Objection Deadlines, Resolution Deadlines, Examination Deadlines and Termination Deadlines will end on the specified deadline date at the time of day specified in the Time of Day Deadline, United States Mountain Time. If Time of Day Deadline is left blank or “N/A” the deadlines will expire at 11:59 p.m., United States Mountain Time. 3.3.2. Computation of Period of Days. In computing a period of days (e.g., three days after MEC), when the ending date is not specified, the first day is excluded and the last day is included. 3.3.3. Deadlines. If any deadline falls on a Saturday, Sunday or federal or Colorado state holiday CBS1-8-24. CONTRACT TO BUY AND SELL REAL ESTATE (RESIDENTIAL) Page 4 of 24 3/31/2025 12:04:00 PM CTMeContracts.com - ©2025 MRI Software LLC 34 539,900.00 20,000.00 519,900.00 539,900.00 539,900.00 (Holiday), such deadline Will Will Not be extended to the next day that is not a Saturday, Sunday or Holiday. Should neither box be checked, the deadline will not be extended. 4. PURCHASE PRICE AND TERMS. 4.1. Price and Terms. The Purchase Price set forth below is payable in U.S. Dollars by Buyer as follows: Item No.Reference Item Amount Amount 1 § 4.1.Purchase Price $ 2 § 4.3.Earnest Money $ 3 § 4.5.New Loan $ 4 § 4.6.Assumption Balance $ 5 § 4.7.Private Financing $ 6 § 4.7.Seller Financing $ 7 n/a n/a $ 8 n/a n/a $ 9 § 4.4.Cash at Closing $ 10 Total $$ 4.2. Seller Concession. At Closing, Seller will credit to Buyer $n/a (Seller Concession). The Seller Concession may be used for any Buyer fee, cost, charge or expenditure to the extent the amount is allowed by the Buyer’s lender and is included in the Closing Statement or Closing Disclosure at Closing. Examples of allowable items to be paid for by the Seller Concession include, but are not limited to: Buyer’s closing costs, loan discount points, loan origination fees, prepaid items and any other fee, cost, charge, expense or expenditure. Seller Concession is in addition to any sum Seller has agreed to pay or credit Buyer elsewhere in this Contract. 4.3. Earnest Money. The Earnest Money set forth in this Section, in the form of a Wire Transfer, will be payable to and held by Land Title Guarantee (Earnest Money Holder), in its trust account, on behalf of both Seller and Buyer. The Earnest Money deposit must be tendered, by Buyer, with this Contract unless the parties mutually agree to an Alternative Earnest Money Deadline for its payment. The parties authorize delivery of the Earnest Money deposit to the company conducting the Closing (Closing Company), if any, at or before Closing. In the event Earnest Money Holder has agreed to have interest on Earnest Money deposits transferred to a fund established for the purpose of providing affordable housing to Colorado residents, Seller and Buyer acknowledge and agree that any interest accruing on the Earnest Money deposited with the Earnest Money Holder in this transaction will be transferred to such fund. 4.3.1. Alternative Earnest Money Deadline. The deadline for delivering the Earnest Money, if other than at the time of tender of this Contract, is as set forth as the Alternative Earnest Money Deadline. 4.3.2. Disposition of Earnest Money. If Buyer has a Right to Terminate and timely terminates, Buyer is entitled to the return of Earnest Money as provided in this Contract. If this Contract is terminated as set forth in § 24 and, except as provided in § 23 (Earnest Money Dispute), if the Earnest Money has not already been returned following receipt of a Notice to Terminate, Seller agrees to execute and return to Buyer or Broker working with Buyer, written mutual instructions (e.g., Earnest Money Release form), within three days of Seller’s receipt of such form. If Seller is entitled to the Earnest Money, and, except as provided in § 23 (Earnest Money Dispute), if the Earnest Money has not already been paid to Seller, following receipt of an Earnest Money Release form, Buyer agrees to execute and return to Seller or Broker working with Seller, written mutual instructions (e.g., Earnest Money Release form), within three days of Buyer’s receipt. 4.3.2.1. Seller Failure to Timely Return Earnest Money. If Seller fails to timely execute and return the Earnest Money Release Form, or other written mutual instructions, Seller is in default and liable to Buyer as set forth in “If Seller is in Default”, § 20.2. and § 21, unless Seller is entitled to the Earnest Money due to a Buyer default. CBS1-8-24. CONTRACT TO BUY AND SELL REAL ESTATE (RESIDENTIAL) Page 5 of 24 3/31/2025 12:04:00 PM CTMeContracts.com - ©2025 MRI Software LLC 35 4.3.2.2. Buyer Failure to Timely Release Earnest Money. If Buyer fails to timely execute and return the Earnest Money Release Form, or other written mutual instructions, Buyer is in default and liable to Seller as set forth in “If Buyer is in Default, § 20.1. and § 21, unless Buyer is entitled to the Earnest Money due to a Seller Default. 4.4. Form of Funds; Time of Payment; Available Funds. 4.4.1. Good Funds. All amounts payable by the parties at Closing, including any loan proceeds, Cash at Closing and closing costs, must be in funds that comply with all applicable Colorado laws, including electronic transfer funds, certified check, savings and loan teller’s check and cashier’s check (Good Funds). 4.4.2. Time of Payment. All funds, including the Purchase Price to be paid by Buyer, must be paid before or at Closing or as otherwise agreed in writing between the parties to allow disbursement by Closing Company at Closing OR SUCH NONPAYING PARTY WILL BE IN DEFAULT. 4.4.3. Available Funds. Buyer represents that Buyer, as of the date of this Contract, Does Does Not have funds that are immediately verifiable and available in an amount not less than the amount stated as Cash at Closing in § 4.1. 4.5. New Loan. (Omitted as inapplicable) 4.6. Assumption. (Omitted as inapplicable) 4.7. Seller or Private Financing. (Omitted as inapplicable) TRANSACTION PROVISIONS 5. FINANCING CONDITIONS AND OBLIGATIONS. (Omitted as inapplicable) 5.3. Credit Information. (Omitted as inapplicable) 5.4. Existing Loan Review. (Omitted as inapplicable) 5.5. Buyer Representation of Principal Residence. Buyer represents that Buyer will occupy the Property as Buyer’s principal residence unless the following box is checked, then Buyer represents that Buyer will NOT occupy the Property as Buyer’s principal residence. 6. APPRAISAL PROVISIONS. 6.1. Appraisal Definition. An “Appraisal” is an opinion of value prepared by a licensed or certified appraiser, engaged on behalf of Buyer or Buyer’s lender, to determine the Property’s market value (Appraised Value). The Appraisal may also set forth certain lender requirements, replacements, removals or repairs necessary on or to the Property as a condition for the Property to be valued at the Appraised Value. 6.2. Appraised Value. The applicable appraisal provision set forth below applies to the respective loan type set forth in § 4.5.3., or if a cash transaction (i.e., no financing), § 6.2.1. applies. 6.2.1. Conventional/Other. Buyer has the right to obtain an Appraisal. If the Appraised Value is less than the Purchase Price, or if the Appraisal is not received by Buyer on or before Appraisal Deadline Buyer may, on or before Appraisal Objection Deadline: 6.2.1.1. Notice to Terminate. Notify Seller in writing, pursuant to § 24.1., that this Contract is terminated; or 6.2.1.2. Appraisal Objection. Deliver to Seller a written objection accompanied by either a copy of the Appraisal or written notice from lender that confirms the Appraised Value is less than the Purchase Price (Lender Verification). 6.2.1.3. Appraisal Resolution. If an Appraisal Objection is received by Seller, on or before Appraisal Objection Deadline and if Buyer and Seller have not agreed in writing to a settlement thereof on or before Appraisal Resolution Deadline, this Contract will terminate on the Appraisal Resolution Deadline, unless Seller receives Buyer’s written withdrawal of the Appraisal Objection before such termination, (i.e., on or before expiration of Appraisal Resolution Deadline). 6.2.2. FHA. It is expressly agreed that, notwithstanding any other provisions of this Contract, the purchaser (Buyer) shall not be obligated to complete the purchase of the Property described herein or to CBS1-8-24. CONTRACT TO BUY AND SELL REAL ESTATE (RESIDENTIAL) Page 6 of 24 3/31/2025 12:04:00 PM CTMeContracts.com - ©2025 MRI Software LLC 36 incur any penalty by forfeiture of Earnest Money deposits or otherwise unless the purchaser (Buyer) has been given, in accordance with HUD/FHA or VA requirements, a written statement issued by the Federal Housing Commissioner, Department of Veterans Affairs, or a Direct Endorsement lender, setting forth the appraised value of the Property of not less than $n/a. The purchaser (Buyer) shall have the privilege and option of proceeding with the consummation of this Contract without regard to the amount of the appraised valuation. The appraised valuation is arrived at to determine the maximum mortgage the Department of Housing and Urban Development will insure. HUD does not warrant the value nor the condition of the Property. The purchaser (Buyer) should satisfy himself/herself/themselves that the price and condition of the Property are acceptable. 6.2.3. VA. It is expressly agreed that, notwithstanding any other provisions of this Contract, the purchaser (Buyer) shall not incur any penalty by forfeiture of Earnest Money or otherwise or be obligated to complete the purchase of the Property described herein, if the Contract Purchase Price or cost exceeds the reasonable value of the Property established by the Department of Veterans Affairs. The purchaser (Buyer) shall, however, have the privilege and option of proceeding with the consummation of this Contract without regard to the amount of the reasonable value established by the Department of Veterans Affairs. 6.3. Lender Property Requirements. If the lender imposes any written requirements, replacements, removals or repairs, including any specified in the Appraisal (Lender Property Requirements) to be made to the Property (e.g., roof repair, repainting), beyond those matters already agreed to by Seller in this Contract, this Contract terminates on the earlier of three days following Seller’s receipt of the Lender Property Requirements, or Closing, unless prior to termination: (1) the parties enter into a written agreement to satisfy the Lender Property Requirements; (2) the Lender Property Requirements have been completed; or (3) the satisfaction of the Lender Property Requirements is waived in writing by Buyer. 6.4. Cost of Appraisal. Cost of the Appraisal to be obtained after the date of this Contract must be timely paid by Buyer Seller. The cost of the Appraisal may include any and all fees paid to the appraiser, appraisal management company, lender’s agent or all three. 7. OWNERS’ ASSOCIATIONS. This Section is applicable if the Property is located within one or more Common Interest Communities and subject to one or more declarations (Association). 7.1. Common Interest Community Disclosure. THE PROPERTY IS LOCATED WITHIN A COMMON INTEREST COMMUNITY AND IS SUBJECT TO THE DECLARATION FOR THE COMMUNITY. THE OWNER OF THE PROPERTY WILL BE REQUIRED TO BE A MEMBER OF THE OWNERS’ ASSOCIATION FOR THE COMMUNITY AND WILL BE SUBJECT TO THE BYLAWS AND RULES AND REGULATIONS OF THE ASSOCIATION. THE DECLARATION, BYLAWS AND RULES AND REGULATIONS WILL IMPOSE FINANCIAL OBLIGATIONS UPON THE OWNER OF THE PROPERTY, INCLUDING AN OBLIGATION TO PAY ASSESSMENTS OF THE ASSOCIATION. IF THE OWNER DOES NOT PAY THESE ASSESSMENTS, THE ASSOCIATION COULD PLACE A LIEN ON THE PROPERTY AND POSSIBLY SELL IT TO PAY THE DEBT. THE DECLARATION, BYLAWS AND RULES AND REGULATIONS OF THE COMMUNITY MAY PROHIBIT THE OWNER FROM MAKING CHANGES TO THE PROPERTY WITHOUT AN ARCHITECTURAL REVIEW BY THE ASSOCIATION (OR A COMMITTEE OF THE ASSOCIATION) AND THE APPROVAL OF THE ASSOCIATION. PURCHASERS OF PROPERTY WITHIN THE COMMON INTEREST COMMUNITY SHOULD INVESTIGATE THE FINANCIAL OBLIGATIONS OF MEMBERS OF THE ASSOCIATION. PURCHASERS SHOULD CAREFULLY READ THE DECLARATION FOR THE COMMUNITY AND THE BYLAWS AND RULES AND REGULATIONS OF THE ASSOCIATION. 7.2. Association Documents to Buyer. Seller is obligated to provide to Buyer the Association Documents (defined below), at Seller’s expense, on or before Association Documents Deadline. Seller authorizes the Association to provide the Association Documents to Buyer, at Seller’s expense. Seller’s obligation to provide the Association Documents is fulfilled upon Buyer’s receipt of the Association Documents, regardless of who provides such documents. 7.3. Association Documents. Association documents (Association Documents) consist of the following: 7.3.1. All Association declarations, articles of incorporation, bylaws, articles of organization, CBS1-8-24. CONTRACT TO BUY AND SELL REAL ESTATE (RESIDENTIAL) Page 7 of 24 3/31/2025 12:04:00 PM CTMeContracts.com - ©2025 MRI Software LLC 37 operating agreements, rules and regulations, party wall agreements and the Association’s responsible governance policies adopted under § 38-33.3-209.5, C.R.S.; 7.3.2. Minutes of: (1) the annual owners’ or members’ meeting and (2) any executive boards’ or managers’ meetings; such minutes include those provided under the most current annual disclosure required under § 38-33.3-209.4, C.R.S. (Annual Disclosure) and minutes of meetings, if any, subsequent to the minutes disclosed in the Annual Disclosure. If none of the preceding minutes exist, then the most recent minutes, if any (§§ 7.3.1. and 7.3.2., collectively, Governing Documents); and 7.3.3. List of all Association insurance policies as provided in the Association’s last Annual Disclosure, including, but not limited to, property, general liability, association director and officer professional liability and fidelity policies. The list must include the company names, policy limits, policy deductibles, additional named insureds and expiration dates of the policies listed (Association Insurance Documents); 7.3.4. A list by unit type of the Association’s assessments, including both regular and special assessments as disclosed in the Association’s last Annual Disclosure; 7.3.5. The Association’s most recent financial documents which consist of: (1) the Association’s operating budget for the current fiscal year, (2) the Association’s most recent annual financial statements, including any amounts held in reserve for the fiscal year immediately preceding the Association’s last Annual Disclosure, (3) the results of the Association’s most recent available financial audit or review, (4) list of the fees and charges (regardless of name or title of such fees or charges) that the Association’s community association manager or Association will charge in connection with the Closing including, but not limited to, any fee incident to the issuance of the Association’s statement of assessments (Status Letter), any rush or update fee charged for the Status Letter, any record change fee or ownership record transfer fees (Record Change Fee), fees to access documents, (5) list of all assessments required to be paid in advance, reserves or working capital due at Closing and (6) reserve study, if any (§§ 7.3.4. and 7.3.5., collectively, Financial Documents); 7.3.6. Any written notice from the Association to Seller of a “construction defect action” under § 38-33.3-303.5, C.R.S. within the past six months and the result of whether the Association approved or disapproved such action (Construction Defect Documents). Nothing in this Section limits the Seller’s obligation to disclose adverse material facts as required under § 10.2. (Disclosure of Adverse Material Facts; Subsequent Disclosure; Present Condition) including any problems or defects in the common elements or limited common elements of the Association property. 7.4. Conditional on Buyer’s Review. Buyer has the right to review the Association Documents. Buyer has the Right to Terminate under § 24.1., on or before Association Documents Termination Deadline, based on any unsatisfactory provision in any of the Association Documents, in Buyer’s sole subjective discretion. Should Buyer receive the Association Documents after Association Documents Deadline, Buyer, at Buyer’s option, has the Right to Terminate under § 24.1. by Buyer’s Notice to Terminate received by Seller on or before ten days after Buyer’s receipt of the Association Documents. If Buyer does not receive the Association Documents, or if Buyer’s Notice to Terminate would otherwise be required to be received by Seller after Closing Date, Buyer’s Notice to Terminate must be received by Seller on or before Closing. If Seller does not receive Buyer’s Notice to Terminate within such time, Buyer accepts the provisions of the Association Documents as satisfactory and Buyer waives any Right to Terminate under this provision, notwithstanding the provisions of § 8.6. (Third Party Right to Purchase/Approve). 8. TITLE INSURANCE, RECORD TITLE AND OFF-RECORD TITLE. 8.1. Evidence of Record Title. 8.1.1. Seller Selects Title Insurance Company. If this box is checked, Seller will select the title insurance company to furnish the owner’s title insurance policy at Seller’s expense. On or before Record Title Deadline, Seller must furnish to Buyer, a current commitment for an owner’s title insurance policy (Title Commitment), in an amount equal to the Purchase Price, or if this box is checked, an Abstract of Title certified to a current date. Seller will cause the title insurance policy to be issued and delivered to Buyer as soon as practicable at or after Closing. 8.1.2. Buyer Selects Title Insurance Company. If this box is checked, Buyer will select the title insurance company to furnish the owner’s title insurance policy at Buyer’s expense. On or before Record CBS1-8-24. CONTRACT TO BUY AND SELL REAL ESTATE (RESIDENTIAL) Page 8 of 24 3/31/2025 12:04:00 PM CTMeContracts.com - ©2025 MRI Software LLC 38 Title Deadline, Buyer must furnish to Seller, a current commitment for owner’s title insurance policy (Title Commitment), in an amount equal to the Purchase Price. If neither box in § 8.1.1. or § 8.1.2. is checked, § 8.1.1. applies. 8.1.3. Owner’s Extended Coverage (OEC). The Title Commitment Will Will Not contain Owner’s Extended Coverage (OEC). If the Title Commitment is to contain OEC, it will commit to delete or insure over the standard exceptions which relate to: (1) parties in possession, (2) unrecorded easements, (3) survey matters, (4) unrecorded mechanics’ liens, (5) gap period (period between the effective date and time of commitment to the date and time the deed is recorded) and (6) unpaid taxes, assessments and unredeemed tax sales prior to the year of Closing. Any additional premium expense to obtain OEC will be paid by Buyer Seller One-Half by Buyer and One-Half by Seller Other n/a. Regardless of whether the Contract requires OEC, the Title Insurance Commitment may not provide OEC or delete or insure over any or all of the standard exceptions for OEC. The Title Insurance Company may require a New Survey or New ILC, defined below, among other requirements for OEC. If the Title Insurance Commitment is not satisfactory to Buyer, Buyer has a right to object under § 8.7. (Right to Object to Title, Resolution). 8.1.4. Title Documents. Title Documents consist of the following: (1) copies of any plats, declarations, covenants, conditions and restrictions burdening the Property and (2) copies of any other documents (or, if illegible, summaries of such documents) listed in the schedule of exceptions (Exceptions) in the Title Commitment furnished to Buyer (collectively, Title Documents). 8.1.5. Copies of Title Documents. Buyer must receive, on or before Record Title Deadline, copies of all Title Documents. This requirement pertains only to documents as shown of record in the office of the clerk and recorder in the county where the Property is located. The cost of furnishing copies of the documents required in this Section will be at the expense of the party or parties obligated to pay for the owner’s title insurance policy. 8.1.6. Existing Abstracts of Title. Seller must deliver to Buyer copies of any abstracts of title covering all or any portion of the Property (Abstract of Title) in Seller’s possession on or before Record Title Deadline. 8.2. Record Title. Buyer has the right to review and object to the Abstract of Title or Title Commitment and any of the Title Documents as set forth in § 8.7. (Right to Object to Title, Resolution) on or before Record Title Objection Deadline. Buyer’s objection may be based on any unsatisfactory form or content of Title Commitment or Abstract of Title, notwithstanding § 13, or any other unsatisfactory title condition, in Buyer’s sole subjective discretion. If the Abstract of Title, Title Commitment or Title Documents are not received by Buyer on or before the Record Title Deadline, or if there is an endorsement to the Title Commitment that adds a new Exception to title, a copy of the new Exception to title and the modified Title Commitment will be delivered to Buyer. Buyer has until the earlier of Closing or ten days after receipt of such documents by Buyer to review and object to: (1) any required Title Document not timely received by Buyer, (2) any change to the Abstract of Title, Title Commitment or Title Documents, or (3) any endorsement to the Title Commitment. If Seller receives Buyer’s Notice to Terminate or Notice of Title Objection, pursuant to this § 8.2. (Record Title), any title objection by Buyer is governed by the provisions set forth in § 8.7. (Right to Object to Title, Resolution). If Seller has fulfilled all Seller’s obligations, if any, to deliver to Buyer all documents required by § 8.1. (Evidence of Record Title) and Seller does not receive Buyer’s Notice to Terminate or Notice of Title Objection by the applicable deadline specified above, Buyer accepts the condition of title as disclosed by the Abstract of Title, Title Commitment and Title Documents as satisfactory. 8.3. Off-Record Title. Seller must deliver to Buyer, on or before Off-Record Title Deadline, true copies of all existing surveys in Seller’s possession pertaining to the Property and must disclose to Buyer all easements, liens (including, without limitation, governmental improvements approved, but not yet installed) or other title matters not shown by public records, of which Seller has actual knowledge (Off-Record Matters). This Section excludes any New ILC or New Survey governed under § 9 (New ILC, New Survey). Buyer has the right to inspect the Property to investigate if any third party has any right in the Property not shown by public records (e.g., unrecorded easement, boundary line discrepancy or water rights). Buyer’s Notice to Terminate or Notice of Title Objection of any unsatisfactory condition (whether disclosed by Seller or revealed by such inspection, notwithstanding § 8.2. (Record Title) and § 13 (Transfer of Title)), in Buyer’s sole subjective discretion, must be received by Seller on or before Off-Record Title Objection Deadline. If an CBS1-8-24. CONTRACT TO BUY AND SELL REAL ESTATE (RESIDENTIAL) Page 9 of 24 3/31/2025 12:04:00 PM CTMeContracts.com - ©2025 MRI Software LLC 39 Off-Record Matter is received by Buyer after the Off-Record Title Deadline, Buyer has until the earlier of Closing or ten days after receipt by Buyer to review and object to such Off-Record Matter. If Seller receives Buyer’s Notice to Terminate or Notice of Title Objection pursuant to this § 8.3. (Off-Record Title), any title objection by Buyer is governed by the provisions set forth in § 8.7. (Right to Object to Title, Resolution). If Seller does not receive Buyer’s Notice to Terminate or Notice of Title Objection by the applicable deadline specified above, Buyer accepts title subject to such Off-Record Matters and rights, if any, of third parties not shown by public records of which Buyer has actual knowledge. 8.4. Special Taxing and Metropolitan Districts. SPECIAL TAXING DISTRICTS MAY BE SUBJECT TO GENERAL OBLIGATION INDEBTEDNESS THAT IS PAID BY REVENUES PRODUCED FROM ANNUAL TAX LEVIES ON THE TAXABLE PROPERTY WITHIN SUCH DISTRICTS. PROPERTY OWNERS IN SUCH DISTRICTS MAY BE PLACED AT RISK FOR INCREASED MILL LEVIES AND TAX TO SUPPORT THE SERVICING OF SUCH DEBT WHERE CIRCUMSTANCES ARISE RESULTING IN THE INABILITY OF SUCH A DISTRICT TO DISCHARGE SUCH INDEBTEDNESS WITHOUT SUCH AN INCREASE IN MILL LEVIES. BUYERS SHOULD INVESTIGATE THE SPECIAL TAXING DISTRICTS IN WHICH THE PROPERTY IS LOCATED BY CONTACTING THE COUNTY TREASURER, BY REVIEWING THE CERTIFICATE OF TAXES DUE FOR THE PROPERTY AND BY OBTAINING FURTHER INFORMATION FROM THE BOARD OF COUNTY COMMISSIONERS, THE COUNTY CLERK AND RECORDER, OR THE COUNTY ASSESSOR. The official website for the Metropolitan District, if any, is: n/a. 8.5. Tax Certificate. A tax certificate paid for by Seller Buyer, for the Property listing any special taxing or metropolitan districts that affect the Property (Tax Certificate) must be delivered to Buyer on or before Record Title Deadline. If the content of the Tax Certificate is unsatisfactory to Buyer, in Buyer’s sole subjective discretion, Buyer may terminate, on or before Record Title Objection Deadline. Should Buyer receive the Tax Certificate after Record Title Deadline, Buyer, at Buyer’s option, has the Right to Terminate under § 24.1. by Buyer’s Notice to Terminate received by Seller on or before ten days after Buyer’s receipt of the Tax Certificate. If Buyer does not receive the Tax Certificate, or if Buyer’s Notice to Terminate would otherwise be required to be received by Seller after Closing Date, Buyer’s Notice to Terminate must be received by Seller on or before Closing. If Seller does not receive Buyer’s Notice to Terminate within such time, Buyer accepts the content of the Tax Certificate as satisfactory and Buyer waives any Right to Terminate under this provision. If Buyer’s loan specified in §4.5.3. (Loan Limitations) prohibits Buyer from paying for the Tax Certificate, the Tax Certificate will be paid for by Seller. 8.6. Third Party Right to Purchase/Approve. If any third party has a right to purchase the Property (e.g., right of first refusal on the Property, right to purchase the Property under a lease or an option held by a third party to purchase the Property) or a right of a third party to approve this Contract, Seller must promptly submit this Contract according to the terms and conditions of such right. If the third-party holder of such right exercises its right this Contract will terminate. If the third party’s right to purchase is waived explicitly or expires, or the Contract is approved, this Contract will remain in full force and effect. Seller must promptly notify Buyer in writing of the foregoing. If the third party right to purchase is exercised or approval of this Contract has not occurred on or before Third Party Right to Purchase/Approve Deadline, this Contract will then terminate. Seller will supply to Buyer, in writing, details of any Third Party Right to Purchase the Property on or before the Record Title Deadline. 8.7. Right to Object to Title, Resolution. Buyer has a right to object or terminate, in Buyer’s sole subjective discretion, based on any title matters including those matters set forth in § 8.2. (Record Title), § 8.3. (Off-Record Title), § 8.5. (Tax Certificate) and § 13 (Transfer of Title). If Buyer exercises Buyer’s rights to object or terminate based on any such title matter, on or before the applicable deadline, Buyer has the following options: 8.7.1. Title Objection, Resolution. If Seller receives Buyer’s written notice objecting to any title matter (Notice of Title Objection) on or before the applicable deadline and if Buyer and Seller have not agreed to a written settlement thereof on or before Title Resolution Deadline, this Contract will terminate on the expiration of Title Resolution Deadline, unless Seller receives Buyer’s written withdrawal of Buyer’s Notice of Title Objection (i.e., Buyer’s written notice to waive objection to such items and waives the Right to Terminate for that reason), on or before expiration of Title Resolution Deadline. If either the Record Title Deadline or the Off-Record Title Deadline, or both, are extended pursuant to § 8.2. (Record Title) or § 8.3. CBS1-8-24. CONTRACT TO BUY AND SELL REAL ESTATE (RESIDENTIAL) Page 10 of 24 3/31/2025 12:04:00 PM CTMeContracts.com - ©2025 MRI Software LLC 40 (Off-Record Title) the Title Resolution Deadline also will be automatically extended to the earlier of Closing or fifteen days after Buyer’s receipt of the applicable documents; or 8.7.2. Title Objection, Right to Terminate. Buyer may exercise the Right to Terminate under § 24.1., on or before the applicable deadline, based on any title matter unsatisfactory to Buyer, in Buyer’s sole subjective discretion. 8.8. Title Advisory. The Title Documents affect the title, ownership and use of the Property and should be reviewed carefully. Additionally, other matters not reflected in the Title Documents may affect the title, ownership and use of the Property, including, without limitation, boundary lines and encroachments, set-back requirements, area, zoning, building code violations, unrecorded easements and claims of easements, leases and other unrecorded agreements, water on or under the Property and various laws and governmental regulations concerning land use, development and environmental matters. 8.8.1. OIL, GAS, WATER AND MINERAL DISCLOSURE. THE SURFACE ESTATE OF THE PROPERTY MAY BE OWNED SEPARATELY FROM THE UNDERLYING MINERAL ESTATE AND TRANSFER OF THE SURFACE ESTATE MAY NOT NECESSARILY INCLUDE TRANSFER OF THE MINERAL ESTATE OR WATER RIGHTS. THIRD PARTIES MAY OWN OR LEASE INTERESTS IN OIL, GAS, OTHER MINERALS, GEOTHERMAL ENERGY OR WATER ON OR UNDER THE SURFACE OF THE PROPERTY, WHICH INTERESTS MAY GIVE THEM RIGHTS TO ENTER AND USE THE SURFACE OF THE PROPERTY TO ACCESS THE MINERAL ESTATE, OIL, GAS OR WATER. 8.8.2. SURFACE USE AGREEMENT. THE USE OF THE SURFACE ESTATE OF THE PROPERTY TO ACCESS THE OIL, GAS OR MINERALS MAY BE GOVERNED BY A SURFACE USE AGREEMENT, A MEMORANDUM OR OTHER NOTICE OF WHICH MAY BE RECORDED WITH THE COUNTY CLERK AND RECORDER. 8.8.3. OIL AND GAS ACTIVITY. OIL AND GAS ACTIVITY THAT MAY OCCUR ON OR ADJACENT TO THE PROPERTY MAY INCLUDE, BUT IS NOT LIMITED TO, SURVEYING, DRILLING, WELL COMPLETION OPERATIONS, STORAGE, OIL AND GAS, OR PRODUCTION FACILITIES, PRODUCING WELLS, REWORKING OF CURRENT WELLS AND GAS GATHERING AND PROCESSING FACILITIES. 8.8.4. ADDITIONAL INFORMATION. BUYER IS ENCOURAGED TO SEEK ADDITIONAL INFORMATION REGARDING OIL AND GAS ACTIVITY ON OR ADJACENT TO THE PROPERTY, INCLUDING DRILLING PERMIT APPLICATIONS. THIS INFORMATION MAY BE AVAILABLE FROM THE COLORADO OIL AND GAS CONSERVATION COMMISSION. 8.8.5. Title Insurance Exclusions. Matters set forth in this Section and others, may be excepted, excluded from, or not covered by the owner’s title insurance policy. 8.9. Mineral Rights Review. Buyer has a Right to Terminate if examination of the Mineral Rights is unsatisfactory to Buyer on or before the Mineral Rights Examination Deadline. 9. NEW ILC, NEW SURVEY. 9.1. New ILC or New Survey. If the box is checked, (1) New Improvement Location Certificate (New ILC); or, (2) New Survey in the form of n/a; is required and the following will apply: 9.1.1. Ordering of New ILC or New Survey. Seller Buyer will order the New ILC or New Survey. The New ILC or New Survey may also be a previous ILC or survey that is in the above-required form, certified and updated as of a date after the date of this Contract. 9.1.2. Payment for New ILC or New Survey. The cost of the New ILC or New Survey will be paid, on or before Closing, by: Seller Buyer or: n/a 9.1.3. Delivery of New ILC or New Survey. Buyer, Seller, the issuer of the Title Commitment (or the provider of the opinion of title if an Abstract of Title) and n/a will receive a New ILC or New Survey on or before New ILC or New Survey Deadline. 9.1.4. Certification of New ILC or New Survey. The New ILC or New Survey will be certified by the surveyor to all those who are to receive the New ILC or New Survey. 9.2. Buyer’s Right to Waive or Change New ILC or New Survey Selection. Buyer may select a CBS1-8-24. CONTRACT TO BUY AND SELL REAL ESTATE (RESIDENTIAL) Page 11 of 24 3/31/2025 12:04:00 PM CTMeContracts.com - ©2025 MRI Software LLC 41 New ILC or New Survey different than initially specified in this Contract if there is no additional cost to Seller or change to the New ILC or New Survey Objection Deadline. Buyer may, in Buyer’s sole subjective discretion, waive a New ILC or New Survey if done prior to Seller incurring any cost for the same. 9.3. New ILC or New Survey Objection. Buyer has the right to review and object based on the New ILC or New Survey. If the New ILC or New Survey is not timely received by Buyer or is unsatisfactory to Buyer, in Buyer’s sole subjective discretion, Buyer may, on or before New ILC or New Survey Objection Deadline, notwithstanding § 8.3. or § 13: 9.3.1. Notice to Terminate. Notify Seller in writing, pursuant to § 24.1, that this Contract is terminated; or 9.3.2. New ILC or New Survey Objection. Deliver to Seller a written description of any matter that was to be shown or is shown in the New ILC or New Survey that is unsatisfactory and that Buyer requires Seller to correct. 9.3.3. New ILC or New Survey Resolution. If a New ILC or New Survey Objection is received by Seller, on or before New ILC or New Survey Objection Deadline and if Buyer and Seller have not agreed in writing to a settlement thereof on or before New ILC or New Survey Resolution Deadline, this Contract will terminate on expiration of the New ILC or New Survey Resolution Deadline, unless Seller receives Buyer’s written withdrawal of the New ILC or New Survey Objection before such termination (i.e., on or before expiration of New ILC or New Survey Resolution Deadline). DISCLOSURE, INSPECTION AND DUE DILIGENCE 10. PROPERTY DISCLOSURE, INSPECTION, INDEMNITY, INSURABILITY, DUE DILIGENCE AND SOURCE OF WATER. 10.1. Seller’s Property Disclosure. On or before Seller’s Property Disclosure Deadline , Seller agrees to deliver to Buyer the most current version of the applicable Colorado Real Estate Commission’s Seller’s Property Disclosure form completed by Seller to Seller’s actual knowledge and current as of the date of this Contract. 10.2. Disclosure of Adverse Material Facts; Subsequent Disclosure; Present Condition. Seller must disclose to Buyer any adverse material facts actually known by Seller as of the date of this Contract. Seller agrees that disclosure of adverse material facts will be in writing. In the event Seller discovers an adverse material fact after the date of this Contract, Seller must timely disclose such adverse fact to Buyer. Buyer has the Right to Terminate based on the Seller’s new disclosure on the earlier of Closing or five days after Buyer’s receipt of the new disclosure. Except as otherwise provided in this Contract, Buyer acknowledges that Seller is conveying the Property and Inclusions to Buyer in an “As Is” condition, “Where Is” and “With All Faults.” 10.3. Inspection. Unless otherwise provided in this Contract, Buyer, acting in good faith, has the right to have inspections (by one or more third parties, personally or both) of the Property, Leased Items, and Inclusions (Inspection), at Buyer’s expense. If (1) the physical condition of the Property, including, but not limited to, the roof, walls, structural integrity of the Property, the electrical, plumbing, HVAC and other mechanical systems of the Property, (2) the physical condition of the Inclusions and Leased Items, (3) service to the Property (including utilities and communication services), systems and components of the Property (e.g., heating and plumbing), (4) any proposed or existing transportation project, road, street or highway, or (5) any other activity, odor or noise (whether on or off the Property) and its effect or expected effect on the Property or its occupants is unsatisfactory, in Buyer’s sole subjective discretion, Buyer may: 10.3.1. Inspection Termination. On or before the Inspection Termination Deadline, notify Seller in writing, pursuant to § 24.1., that this Contract is terminated due to any unsatisfactory condition, provided the Buyer did not previously deliver an Inspection Objection. Buyer’s Right to Terminate under this provision expires upon delivery of an Inspection Objection to Seller pursuant to § 10.3.2.; or 10.3.2. Inspection Objection. On or before the Inspection Objection Deadline, deliver to Seller a written description of any unsatisfactory condition that Buyer requires Seller to correct. 10.3.3. Inspection Resolution. If an Inspection Objection is received by Seller, on or before CBS1-8-24. CONTRACT TO BUY AND SELL REAL ESTATE (RESIDENTIAL) Page 12 of 24 3/31/2025 12:04:00 PM CTMeContracts.com - ©2025 MRI Software LLC 42 Inspection Objection Deadline and if Buyer and Seller have not agreed in writing to a settlement thereof on or before Inspection Resolution Deadline, this Contract will terminate on Inspection Resolution Deadline unless Seller receives Buyer’s written withdrawal of the Inspection Objection before such termination (i.e., on or before expiration of Inspection Resolution Deadline). Nothing in this provision prohibits the Buyer and the Seller from mutually terminating this Contract before the Inspection Resolution Deadline passes by executing an Earnest Money Release. 10.4. Damage, Liens and Indemnity. Buyer, except as otherwise provided in this Contract or other written agreement between the parties, is responsible for payment for all inspections, tests, surveys, engineering reports, or other reports performed at Buyer’s request (Work) and must pay for any damage that occurs to the Property and Inclusions as a result of such Work. Buyer must not permit claims or liens of any kind against the Property for Work performed on the Property. Buyer agrees to indemnify, protect and hold Seller harmless from and against any liability, damage, cost or expense incurred by Seller and caused by any such Work, claim, or lien. This indemnity includes Seller’s right to recover all costs and expenses incurred by Seller to defend against any such liability, damage, cost or expense, or to enforce this Section, including Seller’s reasonable attorney fees, legal fees and expenses. The provisions of this Section survive the termination of this Contract. This § 10.4. does not apply to items performed pursuant to an Inspection Resolution. 10.5. Insurability. Buyer has the Right to Terminate under § 24.1., on or before Property Insurance Termination Deadline, based on any unsatisfactory provision of the availability, terms and conditions and premium for property insurance (Property Insurance) on the Property, in Buyer’s sole subjective discretion. 10.6. Due Diligence. 10.6.1. Due Diligence Documents. Seller agrees to deliver copies of the following documents and information pertaining to the Property and Leased Items (Due Diligence Documents) to Buyer on or before Due Diligence Documents Delivery Deadline: 10.6.1.1. Occupancy Agreements. All current leases, including any amendments or other occupancy agreements, pertaining to the Property. Those leases or other occupancy agreements pertaining to the Property that survive Closing are as follows (Leases): n/a 10.6.1.2. Leased Items Documents. If any lease of personal property (§ 2.5.8., Leased Items) will be transferred to Buyer at Closing, Seller agrees to deliver copies of the leases and information pertaining to the personal property to Buyer on or before Due Diligence Documents Delivery Deadline. 10.6.1.3. Encumbered Inclusions Documents. If any Inclusions owned by Seller are encumbered pursuant to § 2.5.5. (Encumbered Inclusions) above, Seller agrees to deliver copies of the evidence of debt, security and any other documents creating the encumbrance to Buyer on or before Due Diligence Documents Delivery Deadline. 10.6.1.4. Solar Power Plan. Copy of any Solar Power Plan not included in Leased Items (regardless of its name or title). 10.6.1.5. Septic Use Permit. If required by the local health department or other applicable government entity, on or before the local health department’s applicable deadline, Seller must pay for and furnish to Buyer a Septic Use Permit. 10.6.1.6. Other Documents. Other documents and information: n/a 10.6.2. Due Diligence Documents Review and Objection. Buyer has the right to review and object based on the Due Diligence Documents. If the Due Diligence Documents are not supplied to Buyer or are unsatisfactory, in Buyer’s sole subjective discretion, Buyer may, on or before Due Diligence Documents Objection Deadline: 10.6.2.1. Notice to Terminate. Notify Seller in writing, pursuant to § 24.1., that this Contract is terminated; or 10.6.2.2. Due Diligence Documents Objection. Deliver to Seller a written description of any unsatisfactory Due Diligence Documents that Buyer requires Seller to correct. 10.6.2.3. Due Diligence Documents Resolution. If a Due Diligence Documents Objection CBS1-8-24. CONTRACT TO BUY AND SELL REAL ESTATE (RESIDENTIAL) Page 13 of 24 3/31/2025 12:04:00 PM CTMeContracts.com - ©2025 MRI Software LLC 43 is received by Seller, on or before Due Diligence Documents Objection Deadline and if Buyer and Seller have not agreed in writing to a settlement thereof on or before Due Diligence Documents Resolution Deadline, this Contract will terminate on Due Diligence Documents Resolution Deadline unless Seller receives Buyer’s written withdrawal of the Due Diligence Documents Objection before such termination (i.e., on or before expiration of Due Diligence Documents Resolution Deadline). 10.6.2.4. Automatic Due Diligence Extension. If a Due Diligence Document is not delivered on or before the Due Diligence Documents Deadline, Buyer has until the earlier of Closing or ten days after receipt by Buyer to review and object to such Due Diligence Document. If Buyer’s right to review and object to such Due Diligence Document is extended due to such Due Diligence Document not being delivered on or before the Due Diligence Documents Deadline, the Due Diligence Document Resolution Deadline will also be extended to the earlier of Closing or fifteen days after Buyer’s receipt of such Due Diligence Document. 10.7. Conditional Upon Sale of Property. This Contract is conditional upon the sale and closing of that certain property owned by Buyer and commonly known as None. Buyer has the Right to Terminate under § 24.1. effective upon Seller’s receipt of Buyer’s Notice to Terminate on or before Conditional Sale Deadline if such property is not sold and closed by such deadline. This Section is for the sole benefit of Buyer. If Seller does not receive Buyer’s Notice to Terminate on or before Conditional Sale Deadline, Buyer waives any Right to Terminate under this provision. 10.8. Source of Potable Water (Residential Land and Residential Improvements Only). Buyer Does Does Not acknowledge receipt of a copy of Seller’s Property Disclosure or Source of Water Addendum disclosing the source of potable water for the Property. There is No Well. Buyer Does Does Not acknowledge receipt of a copy of the current well permit. Note to Buyer: SOME WATER PROVIDERS RELY, TO VARYING DEGREES, ON NONRENEWABLE GROUND WATER. YOU MAY WISH TO CONTACT YOUR PROVIDER (OR INVESTIGATE THE DESCRIBED SOURCE) TO DETERMINE THE LONG-TERM SUFFICIENCY OF THE PROVIDER’S WATER SUPPLIES. 10.9. Existing Leases; Modification of Existing Leases; New Leases. [Intentionally Deleted] 10.10. Lead-Based Paint. 10.10.1. Lead-Based Paint Disclosure. Unless exempt, if the Property includes one or more residential dwellings constructed or a building permit was issued prior to January 1, 1978, for the benefit of Buyer, Seller and all required real estate licensees must sign and deliver to Buyer a completed Lead-Based Paint Disclosure (Sales) form on or before the Lead-Based Paint Disclosure Deadline. If Buyer does not timely receive the Lead-Based Paint Disclosure, Buyer may waive the failure to timely receive the Lead-Based Paint Disclosure, or Buyer may exercise Buyer’s Right to Terminate under § 24.1. by Seller’s receipt of Buyer’s Notice to Terminate on or before the expiration of the Lead-Based Paint Termination Deadline. 10.10.2. Lead-Based Paint Assessment. If Buyer elects to conduct or obtain a risk assessment or inspection of the Property for the presence of Lead-Based Paint or Lead-Based Paint hazards, Buyer has a Right to Terminate under § 24.1. by Seller’s receipt of Buyer’s Notice to Terminate on or before the expiration of the Lead-Based Paint Termination Deadline. Buyer may elect to waive Buyer’s right to conduct or obtain a risk assessment or inspection of the Property for the presence of Lead-Based Paint or Lead-Based Paint hazards. If Seller does not receive Buyer’s Notice to Terminate within such time, Buyer accepts the condition of the Property relative to any Lead-Based Paint as satisfactory and Buyer waives any Right to Terminate under this provision. 10.11. Carbon Monoxide Alarms. Note: If the improvements on the Property have a fuel-fired heater or appliance, a fireplace, or an attached garage and include one or more rooms lawfully used for sleeping purposes (Bedroom), the parties acknowledge that Colorado law requires that Seller assure the Property has an operational carbon monoxide alarm installed within fifteen feet of the entrance to each Bedroom or in a location as required by the applicable building code. 10.12. Methamphetamine Disclosure. If Seller knows that methamphetamine was ever manufactured, processed, cooked, disposed of, used or stored at the Property, Seller is required to disclose such fact. No disclosure is required if the Property was remediated in accordance with state standards and CBS1-8-24. CONTRACT TO BUY AND SELL REAL ESTATE (RESIDENTIAL) Page 14 of 24 3/31/2025 12:04:00 PM CTMeContracts.com - ©2025 MRI Software LLC 44 other requirements are fulfilled pursuant to § 25-18.5-102, C.R.S., Buyer further acknowledges that Buyer has the right to engage a certified hygienist or industrial hygienist to test whether the Property has ever been used as a methamphetamine laboratory. Buyer has the Right to Terminate under § 24.1., upon Seller’s receipt of Buyer’s written Notice to Terminate, notwithstanding any other provision of this Contract, based on Buyer’s test results that indicate the Property has been contaminated with methamphetamine, but has not been remediated to meet the standards established by rules of the State Board of Health promulgated pursuant to § 25-18.5-102, C.R.S. Buyer must promptly give written notice to Seller of the results of the test. 10.13. Radon Disclosure. THE COLORADO DEPARTMENT OF PUBLIC HEALTH AND ENVIRONMENT STRONGLY RECOMMENDS THAT ALL HOME BUYERS HAVE AN INDOOR RADON TEST PERFORMED BEFORE PURCHASING RESIDENTIAL REAL PROPERTY AND RECOMMENDS HAVING THE RADON LEVELS MITIGATED IF ELEVATED RADON CONCENTRATIONS ARE FOUND. ELEVATED RADON CONCENTRATIONS CAN BE REDUCED BY A RADON MITIGATION PROFESSIONAL. RESIDENTIAL REAL PROPERTY MAY PRESENT EXPOSURE TO DANGEROUS LEVELS OF INDOOR RADON GAS THAT MAY PLACE THE OCCUPANTS AT RISK OF DEVELOPING RADON- INDUCED LUNG CANCER. RADON, A CLASS A HUMAN CARCINOGEN, IS THE LEADING CAUSE OF LUNG CANCER IN NONSMOKERS AND THE SECOND LEADING CAUSE OF LUNG CANCER OVERALL. THE SELLER OF RESIDENTIAL REAL PROPERTY IS REQUIRED TO PROVIDE THE BUYER WITH ANY KNOWN INFORMATION ON RADON TEST RESULTS OF THE RESIDENTIAL REAL PROPERTY. AN ELECTRONIC COPY OF THE MOST RECENT BROCHURE PUBLISHED BY THE DEPARTMENT OF PUBLIC HEALTH AND ENVIRONMENT IN ACCORDANCE WITH C.R.S. §25-11-114(2)(A) THAT PROVIDES ADVICE ABOUT “RADON AND REAL ESTATE TRANSACTIONS IN COLORADO” IS AVAILABLE AT: HTTPS://CDPHE.COLORADO.GOV/RADON-AND-REAL-ESTATE. 11. TENANT ESTOPPEL STATEMENTS. [Intentionally Deleted] Closing Provisions 12. CLOSING DOCUMENTS, INSTRUCTIONS AND CLOSING. 12.1. Closing Documents and Closing Information. Seller and Buyer will cooperate with the Closing Company to enable the Closing Company to prepare and deliver documents required for Closing to Buyer and Seller and their designees. If Buyer is obtaining a loan to purchase the Property, Buyer acknowledges Buyer’s lender is required to provide the Closing Company, in a timely manner, all required loan documents and financial information concerning Buyer’s loan. Buyer and Seller will furnish any additional information and documents required by Closing Company that will be necessary to complete this transaction. Buyer and Seller will sign and complete all customary or reasonably required documents at or before Closing. 12.2. Closing Instructions. Colorado Real Estate Commission’s Closing Instructions Are Are Not executed with this Contract. 12.3. Closing. Delivery of deed from Seller to Buyer will be at closing (Closing). Closing will be on the date specified as the Closing Date or by mutual agreement at an earlier date. At Closing, Seller must provide Buyer with the ability to access the Property (e.g. keys, access code, garage door opener). The hour and place of Closing will be as designated by Title Company. 12.4. Disclosure of Settlement Costs. Buyer and Seller acknowledge that costs, quality and extent of service vary between different settlement service providers (e.g., attorneys, lenders, inspectors and title companies). 12.5. Assignment of Leases. Seller must assign to Buyer all Leases at Closing that will continue after Closing and Buyer must assume Seller’s obligations under such Leases. Further, Seller must transfer to Buyer all Leased Items and assign to Buyer such leases for the Leased Items accepted by Buyer pursuant to § 2.5.8. (Leased Items). CBS1-8-24. CONTRACT TO BUY AND SELL REAL ESTATE (RESIDENTIAL) Page 15 of 24 3/31/2025 12:04:00 PM CTMeContracts.com - ©2025 MRI Software LLC 45 13. TRANSFER OF TITLE. Subject to Buyer’s compliance with the terms and provisions of this Contract, including the tender of any payment due at Closing, Seller must execute and deliver the following good and sufficient deed to Buyer, at Closing: special warranty deed general warranty deed bargain and sale deed quit claim deed personal representative’s deed n/a deed. Seller, provided another deed is not selected, must execute and deliver a good and sufficient special warranty deed to Buyer, at Closing. Unless otherwise specified in § 30 (Additional Provisions), if title will be conveyed using a special warranty deed or a general warranty deed, title will be conveyed “subject to statutory exceptions” as defined in §38-30-113(5)(a), C.R.S. 14. PAYMENT OF LIENS AND ENCUMBRANCES. Unless agreed to by Buyer in writing, any amounts owed on any liens or encumbrances securing a monetary sum against the Property and Inclusions, including any governmental liens for special improvements installed as of the date of Buyer’s signature hereon, whether assessed or not, and previous years’ taxes, will be paid at or before Closing by Seller from the proceeds of this transaction or from any other source. 15. CLOSING COSTS, FEES, ASSOCIATION STATUS LETTER AND DISBURSEMENTS, TAXES AND WITHHOLDING. 15.1. Closing Costs. Buyer and Seller must pay, in Good Funds, their respective closing costs and all other items required to be paid at Closing, except as otherwise provided herein. However, if Buyer’s loan specified in §4.5.3. (Loan Limitations) prohibits Buyer from paying for any of the fees contained in this Section, the fees will be paid for by Seller. 15.2. Closing Services Fee. The fee for real estate closing services must be paid at Closing by Buyer Seller One-Half by Buyer and One-Half by Seller Other n/a. 15.3. Association Fees and Required Disbursements. At least fourteen days prior to Closing Date, Seller agrees to promptly request that the Closing Company or the Association deliver to Buyer a current Status Letter, if applicable. Any fees associated with or specified in the Status Letter will be paid as follows: 15.3.1. Status Letter Fee. Any fee incident to the issuance of Association’s Status Letter must be paid by Seller. 15.3.2. Record Change Fee. Any Record Change Fee must be paid by Buyer Seller One-Half by Buyer and One-Half by Seller N/A. 15.3.3. Reserves or Working Capital. Unless agreed to otherwise, all reserves or working capital due (or other similar cost not addressed in § 16.2. (Association Assessments)) at Closing must be paid by Buyer Seller One-Half by Buyer and One-Half by Seller N/A. 15.3.4. Other Fees. Any other fee listed in the Status Letter as required to be paid at Closing will be paid by Buyer Seller One-Half by Buyer and One-Half by Seller N/A. 15.4. Local Transfer Tax. Any Local Transfer Tax must be paid at Closing by Buyer Seller One-Half by Buyer and One-Half by Seller N/A. 15.5. Sales and Use Tax. Any sales and use tax that may accrue because of this transaction must be paid when due by Buyer Seller One-Half by Buyer and One-Half by Seller N/A. 15.6. Private Transfer Fee. Any private transfer fees and other fees due to a transfer of the Property, payable at Closing, such as community association fees, developer fees and foundation fees, must be paid at Closing by Buyer Seller One-Half by Buyer and One-Half by Seller N/A. 15.7. Water Transfer Fees. Water Transfer Fees can change. The fees, as of the date of this Contract, do not exceed $165.00 for: Water District/Municipality Water Stock Augmentation Membership Small Domestic Water Company n/a and must be paid at Closing by Buyer Seller One-Half by Buyer and One-Half by Seller N/A. 15.8. Utility Transfer Fees. Utility transfer fees can change. Any fees to transfer utilities from Seller to Buyer must be paid by Buyer Seller One-Half by Buyer and One-Half by Seller N/A. 15.9. FIRPTA and Colorado Withholding. CBS1-8-24. CONTRACT TO BUY AND SELL REAL ESTATE (RESIDENTIAL) Page 16 of 24 3/31/2025 12:04:00 PM CTMeContracts.com - ©2025 MRI Software LLC 46 15.9.1. FIRPTA. The Internal Revenue Service (IRS) may require a substantial portion of the Seller’s proceeds be withheld after Closing when Seller is a foreign person. If required withholding does not occur, the Buyer could be held liable for the amount of the Seller’s tax, interest and penalties. If the box in this Section is checked, Seller represents that Seller IS a foreign person for purposes of U.S. income taxation. If the box in this Section is not checked, Seller represents that Seller is not a foreign person for purposes of U.S. income taxation. Seller agrees to cooperate with Buyer and Closing Company to provide any reasonably requested documents to verify Seller’s foreign person status. If withholding is required, Seller authorizes Closing Company to withhold such amount from Seller’s proceeds. Seller should inquire with Seller’s tax advisor to determine if withholding applies or if an exemption exists. 15.9.2. Colorado Withholding. The Colorado Department of Revenue may require a portion of the Seller’s proceeds be withheld after Closing when Seller will not be a Colorado resident after Closing, if not otherwise exempt. Seller agrees to cooperate with Buyer and Closing Company to provide any reasonably requested documents to verify Seller’s status. If withholding is required, Seller authorizes Closing Company to withhold such amount from Seller’s proceeds. Seller should inquire with Seller’s tax advisor to determine if withholding applies or if an exemption exists. 16. PRORATIONS AND ASSOCIATION ASSESSMENTS. 16.1. Prorations. The following will be prorated to the Closing Date, except as otherwise provided: 16.1.1. Taxes. Personal property taxes, if any, special taxing district assessments, if any, and general real estate taxes for the year of Closing, based on Taxes for the Calendar Year Immediately Preceding Closing Most Recent Mill Levy and Most Recent Assessed Valuation, adjusted by any applicable qualifying seniors property tax exemption, qualifying disabled veteran exemption or Other n/a 16.1.2. Rents. Rents based on Rents Actually Received Accrued. At Closing, Seller will transfer or credit to Buyer the security deposits for all Leases assigned to Buyer, or any remainder after lawful deductions, and notify all tenants in writing of such transfer and of the transferee’s name and address. 16.1.3. Other Prorations. Water and sewer charges, propane, interest on continuing loan and n/a 16.1.4. Final Settlement. Unless otherwise specified in Additional Provisions, these prorations are final. 16.2. Association Assessments. Current regular Association assessments and dues (Association Assessments) paid in advance will be credited to Seller at Closing. All Association Assessments accrued before Closing must be paid by Seller and all Association Assessments accrued after Closing must be paid by Buyer. Cash reserves held out of the regular Association Assessments for deferred maintenance by the Association will not be credited to Seller except as may be otherwise provided by the Governing Documents. Any special assessment assessed prior to Closing Date by the Association will be the obligation of Buyer Seller. Except however, any special assessment by the Association for improvements that have been installed as of the date of Buyer’s signature hereon, whether assessed prior to or after Closing, will be the obligation of Seller unless otherwise specified in Additional Provisions. Seller represents there are no unpaid regular or special assessments against the Property except the current regular assessments and n/a Association Assessments are subject to change as provided in the Governing Documents. 17. POSSESSION. Possession of the Property and Inclusions will be delivered to Buyer on Possession Date at Possession Time, subject to the Leases as set forth in § 10.6.1.1. If the parties have executed a Post-Closing Occupancy Agreement, such agreement will control Possession Date and Possession Time. If Seller, after Closing occurs, fails to deliver possession as specified, Seller will be subject to eviction and will be additionally liable to Buyer, notwithstanding § 20.2. (If Seller is in Default), for payment of $ 300.00 per day (or any part of a day notwithstanding § 3.3., Day) from Possession Date and Possession Time until possession is delivered. Additionally, Buyer may pursue a claim against Seller for any of Buyer’s actual additional damages incurred by Buyer in excess of such amount. CBS1-8-24. CONTRACT TO BUY AND SELL REAL ESTATE (RESIDENTIAL) Page 17 of 24 3/31/2025 12:04:00 PM CTMeContracts.com - ©2025 MRI Software LLC 47 General Provisions 18. CAUSES OF LOSS, INSURANCE; DAMAGE TO INCLUSIONS AND SERVICES; CONDEMNATION; AND WALK-THROUGH. Except as otherwise provided in this Contract, the Property and Inclusions will be delivered in the condition existing as of the date of this Contract, ordinary wear and tear excepted. 18.1. Causes of Loss, Insurance. In the event the Property or Inclusions are damaged by fire, other perils or causes of loss prior to Closing (Property Damage) in an amount of not more than ten percent of the total Purchase Price and if the repair of the damage will be paid by insurance (other than the deductible to be paid by Seller), then Seller, upon receipt of the insurance proceeds, will use Seller’s reasonable efforts to repair the Property before Closing Date. Buyer has the Right to Terminate under § 24.1., on or before Closing Date, if the Property is not repaired before Closing Date, or if the damage exceeds such sum. Should Buyer elect to carry out this Contract despite such Property Damage, Buyer is entitled to a credit at Closing for all insurance proceeds that were received by Seller (but not the Association, if any) resulting from damage to the Property and Inclusions, plus the amount of any deductible provided for in the insurance policy. This credit may not exceed the Purchase Price. In the event Seller has not received the insurance proceeds prior to Closing, the parties may agree to extend the Closing Date to have the Property repaired prior to Closing or, at the option of Buyer, (1) Seller must assign to Buyer the right to the proceeds at Closing, if acceptable to Seller’s insurance company and Buyer’s lender; or (2) the parties may enter into a written agreement prepared by the parties or their attorney requiring the Seller to escrow at Closing from Seller’s sale proceeds the amount Seller has received and will receive due to such damage, not exceeding the total Purchase Price, plus the amount of any deductible that applies to the insurance claim. 18.2. Damage, Inclusions and Services. Should any Inclusion or service (including utilities and communication services), system, component or fixture of the Property (collectively Service) (e.g., heating or plumbing), fail or be damaged between the date of this Contract and Closing or possession, whichever is earlier, then Seller is liable for the repair or replacement of such Inclusion or Service with a unit of similar size, age and quality, or an equivalent credit, but only to the extent that the maintenance or replacement of such Inclusion or Service is not the responsibility of the Association, if any, less any insurance proceeds received by Buyer covering such repair or replacement. If the failed or damaged Inclusion or Service is not repaired or replaced on or before Closing or possession, whichever is earlier, Buyer has the Right to Terminate under § 24.1., on or before Closing Date, or, at the option of Buyer, Buyer is entitled to a credit at Closing for the repair or replacement of such Inclusion or Service. Such credit must not exceed the Purchase Price. If Buyer receives such a credit, Seller’s right for any claim against the Association, if any, will survive Closing. 18.3. Condemnation. In the event Seller receives actual notice prior to Closing that a pending condemnation action may result in a taking of all or part of the Property or Inclusions, Seller must promptly notify Buyer, in writing, of such condemnation action. Buyer has the Right to Terminate under § 24.1., on or before Closing Date, based on such condemnation action, in Buyer’s sole subjective discretion. Should Buyer elect to consummate this Contract despite such diminution of value to the Property and Inclusions, Buyer is entitled to a credit at Closing for all condemnation proceeds awarded to Seller for the diminution in the value of the Property or Inclusions, but such credit will not include relocation benefits or expenses or exceed the Purchase Price. 18.4. Walk-Through and Verification of Condition. Buyer, upon reasonable notice, has the right to walk through the Property prior to Closing to verify that the physical condition of the Property and Inclusions complies with this Contract. 19. RECOMMENDATION OF LEGAL AND TAX COUNSEL. By signing this Contract, Buyer and Seller acknowledge that their respective broker has advised that this Contract has important legal consequences and has recommended: (1) legal examination of title; (2) consultation with legal and tax or other counsel before signing this Contract as this Contract may have important legal and tax implications; (3) to consult with their own attorney if Water Rights, Mineral Rights or Leased Items are included or excluded in the sale; and (4) to consult with legal counsel if there are other matters in this transaction for which legal counsel should be engaged and consulted. Such consultations must be done timely as this Contract has strict time limits, CBS1-8-24. CONTRACT TO BUY AND SELL REAL ESTATE (RESIDENTIAL) Page 18 of 24 3/31/2025 12:04:00 PM CTMeContracts.com - ©2025 MRI Software LLC 48 including deadlines, that must be complied with. 20. TIME OF ESSENCE, DEFAULT AND REMEDIES. Time is of the essence for all dates and deadlines in this Contract. This means that all dates and deadlines are strict and absolute. If any payment due, including Earnest Money, is not paid, honored or tendered when due, or if any obligation is not performed timely as provided in this Contract or waived, the non-defaulting party has the following remedies: 20.1. If Buyer is in Default: 20.1.1. Specific Performance. Seller may elect to cancel this Contract and all Earnest Money (whether or not paid by Buyer) will be paid to Seller and retained by Seller. It is agreed that the Earnest Money is not a penalty, and the parties agree the amount is fair and reasonable. Seller may recover such additional damages as may be proper. Alternatively, Seller may elect to treat this Contract as being in full force and effect and Seller has the right to specific performance or damages, or both. 20.1.2. Liquidated Damages, Applicable. This § 20.1.2. applies unless the box in § 20.1.1. is checked. Seller may cancel this Contract. All Earnest Money (whether or not paid by Buyer) will be paid to Seller and retained by Seller. It is agreed that the Earnest Money amount specified in § 4.1. is LIQUIDATED DAMAGES and not a penalty, which amount the parties agree is fair and reasonable and (except as provided in §§ 10.4. and 21), such amount is SELLER’S ONLY REMEDY for Buyer’s failure to perform the obligations of this Contract. Seller expressly waives the remedies of specific performance and additional damages. 20.2. If Seller is in Default: 20.2.1. Specific Performance, Damages or Both. Buyer may elect to treat this Contract as canceled, in which case all Earnest Money received hereunder will be returned to Buyer and Buyer may recover such damages as may be proper. Alternatively, in addition to the per diem in § 17 (Possession) for failure of Seller to timely deliver possession of the Property after Closing occurs, Buyer may elect to treat this Contract as being in full force and effect and Buyer has the right to specific performance or damages, or both. 20.2.2. Seller’s Failure to Perform. In the event Seller fails to perform Seller’s obligations under this Contract, to include, but not limited to, failure to timely disclose Association violations known by Seller, failure to perform any replacements or repairs required under this Contract or failure to timely disclose any known adverse material facts, Seller remains liable for any such failures to perform under this Contract after Closing. Buyer’s rights to pursue the Seller for Seller’s failure to perform under this Contract are reserved and survive Closing. 21. LEGAL FEES, COST AND EXPENSES. Anything to the contrary herein notwithstanding, in the event of any arbitration or litigation relating to this Contract, prior to or after Closing Date, the arbitrator or court must award to the prevailing party all reasonable costs and expenses, including attorney fees, legal fees and expenses. 22. MEDIATION. If a dispute arises relating to this Contract (whether prior to or after Closing) and is not resolved, the parties must first proceed, in good faith, to mediation. Mediation is a process in which the parties meet with an impartial person who helps to resolve the dispute informally and confidentially. Mediators cannot impose binding decisions. Before any mediated settlement is binding, the parties to the dispute must agree to the settlement, in writing. The parties will jointly appoint an acceptable mediator and will share equally in the cost of such mediation. The obligation to mediate, unless otherwise agreed, will terminate if the entire dispute is not resolved within thirty days of the date written notice requesting mediation is delivered by one party to the other at that party’s last known address (physical or electronic as provided in § 26). Nothing in this Section prohibits either party from filing a lawsuit and recording a lis pendens affecting the Property, before or after the date of written notice requesting mediation. This Section will not alter any date in this Contract, unless otherwise agreed. 23. EARNEST MONEY DISPUTE. Except as otherwise provided herein, Earnest Money Holder must release the Earnest Money following receipt of written mutual instructions, signed by both Buyer and Seller. In the event of any controversy regarding the Earnest Money, Earnest Money Holder is not required to CBS1-8-24. CONTRACT TO BUY AND SELL REAL ESTATE (RESIDENTIAL) Page 19 of 24 3/31/2025 12:04:00 PM CTMeContracts.com - ©2025 MRI Software LLC 49 release the Earnest Money. Earnest Money Holder, in its sole subjective discretion, has several options: (1) wait for any proceeding between Buyer and Seller; (2) interplead all parties and deposit Earnest Money into a court of competent jurisdiction (Earnest Money Holder is entitled to recover court costs and reasonable attorney and legal fees incurred with such action); or (3) provide notice to Buyer and Seller that unless Earnest Money Holder receives a copy of the Summons and Complaint or Claim (between Buyer and Seller) containing the case number of the lawsuit (Lawsuit) within one hundred twenty days of Earnest Money Holder’s notice to the parties, Earnest Money Holder is authorized to return the Earnest Money to Buyer. In the event Earnest Money Holder does receive a copy of the Lawsuit and has not interpled the monies at the time of any Order, Earnest Money Holder must disburse the Earnest Money pursuant to the Order of the Court. The parties reaffirm the obligation of § 22 (Mediation). This Section will survive cancellation or termination of this Contract. 24. TERMINATION. 24.1. Right to Terminate. If a party has a right to terminate, as provided in this Contract (Right to Terminate), the termination is effective upon the other party’s receipt of a written notice to terminate (Notice to Terminate), provided such written notice was received on or before the applicable deadline specified in this Contract. If the Notice to Terminate is not received on or before the specified deadline, the party with the Right to Terminate accepts the specified matter, document or condition as satisfactory and waives the Right to Terminate under such provision. Any Notice to Terminate delivered after the applicable deadline specified in the Contract is ineffective and does not terminate this Contract. 24.2. Effect of Termination. In the event this Contract is terminated, all Earnest Money received hereunder must be timely returned to Buyer and the parties are then relieved of all obligations hereunder, subject to §§ 10.4. and 21. 25. ENTIRE AGREEMENT, MODIFICATION, SURVIVAL; SUCCESSORS. This Contract, its exhibits and specified addenda, constitute the entire agreement between the parties relating to the subject hereof and any prior agreements pertaining thereto, whether oral or written, have been merged and integrated into this Contract. No subsequent modification of any of the terms of this Contract is valid, binding upon the parties, or enforceable unless made in writing and signed by the parties. Any right or obligation in this Contract that, by its terms, exists or is intended to be performed after termination or Closing survives the same. Any successor to a party receives the predecessor’s benefits and obligations of this Contract. 26. NOTICE, DELIVERY AND CHOICE OF LAW. 26.1. Physical Delivery and Notice. Any document or notice to Buyer or Seller must be in writing, except as provided in § 26.2. and is effective when physically received by such party, any individual named in this Contract to receive documents or notices for such party, Broker, or Brokerage Firm of Broker working with such party (except any notice or delivery after Closing must be received by the party, not Broker or Brokerage Firm). 26.2. Electronic Notice. As an alternative to physical delivery, any notice may be delivered in electronic form to Buyer or Seller, any individual named in this Contract to receive documents or notices for such party, Broker or Brokerage Firm of Broker working with such party (except any notice or delivery after Closing, cancellation or Termination must be received by the party, not Broker or Brokerage Firm) at the electronic address of the recipient by facsimile, email or Internet/electronic signature. 26.3. Electronic Delivery. Electronic Delivery of documents and notice may be delivered by: (1) email at the email address of the recipient, (2) a link or access to a website or server provided the recipient receives the information necessary to access the documents, or (3) facsimile at the facsimile number (Fax No.) of the recipient. 26.4. Choice of Law. This Contract and all disputes arising hereunder are governed by and construed in accordance with the laws of the State of Colorado that would be applicable to Colorado residents who sign a contract in Colorado for real property located in Colorado. 27. NOTICE OF ACCEPTANCE, COUNTERPARTS. This proposal will expire unless accepted in writing, CBS1-8-24. CONTRACT TO BUY AND SELL REAL ESTATE (RESIDENTIAL) Page 20 of 24 3/31/2025 12:04:00 PM CTMeContracts.com - ©2025 MRI Software LLC 50 by Buyer and Seller, as evidenced by their signatures below and the offering party receives notice of such acceptance pursuant to § 26 on or before Acceptance Deadline Date and Acceptance Deadline Time. If accepted, this document will become a contract between Seller and Buyer. A copy of this Contract may be executed by each party, separately and when each party has executed a copy thereof, such copies taken together are deemed to be a full and complete contract between the parties. 28. GOOD FAITH. Buyer and Seller acknowledge that each party has an obligation to act in good faith including, but not limited to, exercising the rights and obligations set forth in the provisions of Financing Conditions and Obligations; Title Insurance, Record Title and Off-Record Title; New ILC, New Survey; and Property Disclosure, Inspection, Indemnity, Insurability Due Diligence and Source of Water. 29. BUYER’S BROKERAGE FIRM COMPENSATION. Buyer’s brokerage firm’s compensation will be paid, at Closing, as follows: 29.1. 2.5% of the Purchase Price or $n/a by Seller. Buyer’s brokerage firm is an intended third-party beneficiary under this provision only. The amount paid by Seller under this provision is in addition to any other amounts Seller is paying on behalf of Buyer elsewhere in this Contract. 29.2. n/a% of the Purchase Price or $n/a by Buyer pursuant to a separate agreement between Buyer and Buyer’s brokerage firm. This amount may be modified between Buyer and Buyer’s brokerage firm outside of this Contract. 29.3. n/a% of the Purchase Price or $n/a by a separate agreement between Buyer’s brokerage firm and Seller’s brokerage firm. ADDITIONAL PROVISIONS AND ATTACHMENTS 30. ADDITIONAL PROVISIONS. (The following additional provisions have not been approved by the Colorado Real Estate Commission.) 1. This Contract to Buy and Sell Real Estate is conditioned and contingent upon the Vail Town Council granting authorization to proceed with the purchase of the Property described in Section 1, subject to the terms of the Contract. Authorization to proceed shall be by consideration of a Vail Town Council Resolution on April 15, 2025. 2. 15.4. Local Transfer Tax: Real estate transfer tax may be waived by exemption. 3. Seller to provide Buyer with List of Furnishings and Inclusions by Due Diligence Deadline. Personal property to be conveyed via Bill of Sale at Closing 31. OTHER DOCUMENTS. 31.1. Documents Part of Contract. The following documents are a part of this Contract: 31.1.1. Post-Closing Occupancy Agreement. If the box is checked, the Post-Closing Occupancy Agreement is a part of this Contract. n/a 31.2. Documents Not Part of Contract. The following documents have been provided but are not a part of this Contract: CBS1-8-24. CONTRACT TO BUY AND SELL REAL ESTATE (RESIDENTIAL) Page 21 of 24 3/31/2025 12:04:00 PM CTMeContracts.com - ©2025 MRI Software LLC 51 n/a Signatures Date:3/25/2025 Buyer: Town Of Vail By: Russell Forrest, Town Manager [NOTE: If this offer is being countered or rejected, do not sign this document.] Date: Seller: John James Russell END OF CONTRACT TO BUY AND SELL REAL ESTATE BROKER’S ACKNOWLEDGMENTS AND COMPENSATION DISCLOSURE. A. Broker Working With Buyer Broker Does Does Not acknowledge receipt of Earnest Money deposit. Broker agrees that if Brokerage Firm is the Earnest Money Holder and, except as provided in § 23, if the Earnest Money has not already been returned following receipt of a Notice to Terminate or other written notice of termination, Earnest Money Holder will release the Earnest Money as directed by the written mutual instructions. Such release of Earnest Money will be made within five days of Earnest Money Holder’s receipt of the executed written mutual instructions, provided the Earnest Money check has cleared. Broker is working with Buyer as a Buyer’s Agent Transaction-Broker in this transaction. Customer. Broker has no brokerage relationship with Buyer. See § B for Broker’s brokerage relationship with Seller. Brokerage Firm’s compensation or commission is to be paid as specified in §29 above. This Broker’s Acknowledgments and Compensation Disclosure is for disclosure purposes only and does NOT create any claim for compensation. Any compensation agreement between the brokerage firms must be entered into separately and apart from this provision. Brokerage Firm’s Name: Berkshire Hathaway HomeServices Colorado Properties CBS1-8-24. CONTRACT TO BUY AND SELL REAL ESTATE (RESIDENTIAL) Page 22 of 24 3/31/2025 12:04:00 PM CTMeContracts.com - ©2025 MRI Software LLC 52 Brokerage Firm’s License #: EC 28210 Date:3/20/2025 Broker’s Name: Danean Boukather Broker’s License #: FA100000608 Address: 511 E Lionshead Cir Vail, CO 81657 Phone No.: 970-476-2482 Fax No.: 970-476-6499 Email Address: danean@bhhsvail.net B. Broker Working with Seller Broker Does Does Not acknowledge receipt of Earnest Money deposit. Broker agrees that if Brokerage Firm is the Earnest Money Holder and, except as provided in § 23, if the Earnest Money has not already been returned following receipt of a Notice to Terminate or other written notice of termination, Earnest Money Holder will release the Earnest Money as directed by the written mutual instructions. Such release of Earnest Money will be made within five days of Earnest Money Holder’s receipt of the executed written mutual instructions, provided the Earnest Money check has cleared. Broker is working with Seller as a Seller’s Agent Transaction-Broker in this transaction. Customer. Broker has no brokerage relationship with Seller. See § A for Broker’s brokerage relationship with Buyer. Brokerage Firm’s compensation or commission is to be paid by Seller Buyer Other . This Broker’s Acknowledgments and Compensation Disclosure is for disclosure purposes only and does NOT create any claim for compensation. Any agreement to pay compensation must be entered into separately and apart from this provision. Brokerage Firm’s Name: Berkshire Hathaway-Villa M. Brokerage Firm’s License #: Date: Broker’s Name: Marla Hillerich Broker’s License #: Address: PO BOX 2467 Avon, CO 81620 Phone No.: (970) 845-8700 Fax No.: (970) 845-6352 CBS1-8-24. CONTRACT TO BUY AND SELL REAL ESTATE (RESIDENTIAL) Page 23 of 24 3/31/2025 12:04:00 PM CTMeContracts.com - ©2025 MRI Software LLC 53 Email Address: marla@vailbeavercreekproperties.com CBS1-8-24. CONTRACT TO BUY AND SELL REAL ESTATE (RESIDENTIAL) CTM eContracts - ©2025 MRI Software LLC - All Rights Reserved CBS1-8-24. CONTRACT TO BUY AND SELL REAL ESTATE (RESIDENTIAL) Page 24 of 24 3/31/2025 12:04:00 PM CTMeContracts.com - ©2025 MRI Software LLC 54 Berkshire Hathaway HomeServices Colorado Properties 63 Avondale Ln #C5/PO Box 2467 Beaver Creek, CO 81620 Marla J. Hillerich Ph: (970)390-7049 Fax: 970-845-6352 1 The printed portions of this form, except differentiated additions, have been approved by the Colorado Real Estate Commission. (CP40-8-24) (Mandatory 8-24) 2 3 THIS FORM HAS IMPORTANT LEGAL CONSEQUENCES AND THE PARTIES SHOULD CONSULT LEGAL AND TAX OR OTHER COUNSEL BEFORE SIGNING. 4 5 COUNTERPROPOSAL 6 Date: 3/28/2025 7 8 1. This Counterproposal supersedes and replaces any previous counterproposal. This 9 Counterproposal amends the proposed contract dated 3/20/2025 (Contract) between 10 The Estate of John James Russell (Seller) and Town Of Vail (Buyer) relating to the sale and purchase of the following legally described real estate in the County of Eagle, Colorado (insert legal description): 11 DESC: PHASE III Subdivision: PITKIN CREEK PARK Unit: 7-N 12 known as: 3971 Bighorn Road, #7N Vail, CO 81620 (Property). 13 14 NOTE: If the table is omitted, or if any item is left blank or is marked in the "No Change" column, it means no change to the corresponding provision of the Contract. If any item is marked in the "Deleted" column, it means that the corresponding provision of the Contract to which reference is made is deleted. 15 16 2. § 3.1. Dates and Deadlines. [Omitted as inapplicable] 17 18 3. § 4. PURCHASE PRICE AND TERMS. [Omitted as inapplicable] 19 20 4. ATTACHMENTS. The following are a part of this Counterproposal: 21 no change 22 Note: The following documents have been provided but are not a part of this Counterproposal: 23 no change 24 25 5. OTHER CHANGES. 26 2.3 The Seller is The Estate of John James Russell, by Gail Russell Administrator of Estate. 2.5.3. Inclusions Dishwasher, Refrigerator, Microwave, Range, Disposal, Water Heater, Fireplace. Other inclusions are the following: 4 barstools in kitchen, metal magazine rack, fireplace tool, wooden side table with bear lamp, chair on patio, metal frame bed and mattress, two woodnightstands and 2 small wood dressers. 2.6. The following items will be excluded: All Bedding and pillows, throw pillows on bed, matching lamps in bedroom, all candles, all towels in bathroom and kitchen, bath mats, throw rug in kitchen, white Vase with faux greenery, (2)glass soap dispensers, floral porcelain diffuser. 8.1.1. Seller Selects Title Insurance Company BOX shall be unchecked. 8.1.2. Buyer Selects Insurance Company BOX shall be checked. CP40-8-24. COUNTERPROPOSAL Page 1 of 3 CTMeContracts.com - ©2025 MRI Software LLC 55 8.4 Special Taxing District: vail.gov and eaglecounty.org 13. Transfer of Title shall be by Personal Representative deed, not general warranty deed. 15.4. Local Transfer Tax to town of Vail should be waived by the town of Vail deed restriction. In the event the town of Vail will not wait the deed restriction, the buyer agrees to be responsible for the full amount of the tax in the amount of 1.0%. Inventory inclusions and exclusions are hereby referenced under section 2.5.3. and 2.6. Seller is deceased and estate will not provide a Sellers Property Disclosure. Buyer agrees to pay for the past due HOA fees in the amount of $6322. at closing. Seller shall be responsible for any fees above this amount. 27 28 6. ACCEPTANCE DEADLINE. This Counterproposal expires unless accepted in writing by Seller and Buyer as evidenced by their signatures below and the offering party to this document receives notice of such acceptance on or before March 31, 2025 5:00 PM MT . Date Time 29 30 If accepted, the Contract, as amended by this Counterproposal, will become a contract between Seller and Buyer. All other terms and conditions of the Contract remain the same. 31 32 Date:3/28/2025 Seller: The Estate of John James Russell By: Gail Russell, Administrator of Estate 33 34 Seller: _______________________________________________________ Date: ____________ 35 36 37 Date:3/28/2025 Buyer: Town Of Vail By: Russell Forrest, Town Manager 38 39 Buyer: _______________________________________________________ Date: ____________ 40 41 Note: When this Counterproposal form is used, the Contract is not to be signed by the party initiating this Counterproposal. Brokers must complete and sign the Broker's Acknowledgments and Compensation Disclosure portion of the Contract. CP40-8-24. COUNTERPROPOSAL Page 2 of 3 CTMeContracts.com - ©2025 MRI Software LLC 56 CP40-8-24. COUNTERPROPOSAL CTM eContracts - ©2025 CTM Software Corp. CP40-8-24. COUNTERPROPOSAL Page 3 of 3 CTMeContracts.com - ©2025 MRI Software LLC 57 Berkshire Hathaway HomeServices Colorado Properties Danean Boukather Ph: 970-476-2482 Fax: 970-476-6499 1 The printed portions of this form, except differentiated additions, have been approved by the Colorado Real Estate Commission. (AE41-8-24) (Mandatory 8-24) 2 THIS FORM HAS IMPORTANT LEGAL CONSEQUENCES AND THE PARTIES SHOULD CONSULT LEGAL AND TAX OR OTHER COUNSEL BEFORE SIGNING. 3 4 AGREEMENT TO AMEND/EXTEND CONTRACT 5 6 Date: 4/4/2025 7 8 1. This agreement amends the contract dated 3/20/2025 (Contract) between The Estate of John James Russell (Seller) and Town Of Vail (Buyer) relating to the sale and purchase of the following legally described real estate in the County of Eagle, Colorado (insert legal description): 9 10 PHASE III Subdivision: PITKIN CREEK PARK Unit: 7-N 11 known as: 3971 Bighorn Road, 7-N Vail, CO 81657 (Property). 12 13 NOTE: If the table is omitted, or if any item is left blank or is marked in the “No Change” column, it means no change to the corresponding provision of the Contract. If any item is marked in the “Deleted” column, it means that the corresponding provision of the Contract to which reference is made is deleted. 14 15 2. § 3.1. Dates and Deadlines. [Note: This table may be omitted if inapplicable.] 16 17 Item No.Reference Event Date or Deadline No Change Deleted 1 § 3 Time of Day Deadline no change 2 § 4 Alternative Earnest Money Deadline no change Title 3 § 8 Record Title Deadline (and Tax Certificate)no change 4 § 8 Record Title Objection Deadline no change 5 § 8 Off-Record Title Deadline no change 6 § 8 Off-Record Title Objection Deadline no change 7 § 8 Title Resolution Deadline no change 8 § 8 Third Party Right to Purchase/Approve Deadline no change Owners’ Association 9 § 7 Association Documents Deadline no change 10 § 7 Association Documents Termination Deadline no change Seller's Disclosures 11 § 10 Seller's Property Disclosure Deadline no change 12 § 10 Lead-Based Paint Disclosure Deadline no change Loan and Credit 13 § 5 New Loan Application Deadline no change 14 § 5 New Loan Terms Deadline no change 15 § 5 New Loan Availability Deadline no change 16 § 5 Buyer's Credit Information Deadline no change 17 § 5 Disapproval of Buyer's Credit Information Deadline no change 18 § 5 Existing Loan Deadline no change 19 § 5 Existing Loan Termination Deadline no change AE41-8-24. AGREEMENT TO AMEND-EXTEND CONTRACT Page 1 of 3 4/7/2025 10:33:44 AM CTMeContracts.com - ©2025 MRI Software LLC 58 20 § 5 Loan Transfer Approval Deadline no change 21 § 4 Seller or Private Financing Deadline no change Appraisal 22 § 6 Appraisal Deadline no change 23 § 6 Appraisal Objection Deadline no change 24 § 6 Appraisal Resolution Deadline no change Survey 25 § 9 New ILC or New Survey Deadline no change 26 § 9 New ILC or New Survey Objection Deadline no change 27 § 9 New ILC or New Survey Resolution Deadline no change Inspection and Due Diligence 28 § 2 Water Rights Examination Deadline no change 29 § 8 Mineral Rights Examination Deadline no change 30 § 10 Inspection Termination Deadline 4/14/2025 Monday 31 § 10 Inspection Objection Deadline 4/14/2025 Monday 32 § 10 Inspection Resolution Deadline 4/18/2025 Friday 33 § 10 Property Insurance Termination Deadline no change 34 § 10 Due Diligence Documents Delivery Deadline no change 35 § 10 Due Diligence Documents Objection Deadline no change 36 § 10 Due Diligence Documents Resolution Deadline no change 37 § 10 Environmental Inspection Termination Deadline (CBS2, 3, 4)no change 38 § 10 ADA Evaluation Termination Deadline (CBS2, 3, 4)no change 39 § 10 Conditional Sale Deadline no change 40 § 10 Lead-Based Paint Termination Deadline no change 41 § 11 Estoppel Statements Deadline (CBS2, 3, 4)no change 42 § 11 Estoppel Statements Termination Deadline (CBS2, 3, 4)no change Closing and Possession 43 § 12 Closing Date no change 44 § 17 Possession Date no change 45 § 17 Possession Time no change 46 n/a n/a no change 47 n/a n/a no change 18 3. Other dates or deadlines set forth in the Contract are changed as follows: 19 n/a 20 21 4. Additional amendments: 22 n/a 23 All other terms and conditions of the Contract remain the same. 24 25 This proposal expires unless accepted in writing by Seller and Buyer as evidenced by their signatures below and the offering party to this document receives notice of such acceptance on or before 4/9/25 5:00PM(MST) . Date Time 26 27 Date:4/5/2025 AE41-8-24. AGREEMENT TO AMEND-EXTEND CONTRACT Page 2 of 3 4/7/2025 10:33:44 AM CTMeContracts.com - ©2025 MRI Software LLC 59 Seller: The Estate of John James Russell By: Gail Russell, Administrator of Estate 28 29 Seller: _______________________________________________________ Date: _____________ 30 Address: 31 32 33 Date:4/4/2025 Buyer: Town Of Vail By: Russell Forrest, Town Manager 34 35 Buyer: _____________________________________________________ Date: _____________ 36 Address: 37 AE41-8-24. AGREEMENT TO AMEND/EXTEND CONTRACT CTM eContracts - ©2025 CTM Software Corp. AE41-8-24. AGREEMENT TO AMEND-EXTEND CONTRACT Page 3 of 3 4/7/2025 10:33:44 AM CTMeContracts.com - ©2025 MRI Software LLC 60 AGENDA ITEM NO. 4.3 Item Cover Page DATE:April 15, 2025 SUBMITTED BY:Steph Johnson, Housing ITEM TYPE:Contract Award AGENDA SECTION:Consent Agenda (6:10pm) SUBJECT:Letter of Support for House Bill 25-1272 SUGGESTED ACTION:Approve a letter of support to be written on behalf of Town Council to Senator Dylan Roberts in regards to House Bill 25-1272. VAIL TOWN COUNCIL AGENDA ITEM REPORT ATTACHMENTS: Council Memo - House Bill 25-1272 Attachment A. Construction Defects Factsheet - HB25-1272 61 MEMORANDUM To: Vail Town Council From: Vail Local Housing Authority Jason Dietz, Housing Director Date: April 15, 2025 Re: House Bill 25-1272 Construction Defects Letter of Support I.Background Condo construction in Colorado has seen a dramatic decline, with the number of active condo developers decreasing by 84% from 2007 to 2022. This has reduced the stock of more affordable starter homes for sale. On February 18, 2025, House Bill 25-1272, also known as the "Colorado American Dream Act, was introduced to the General Assembly of the State of Colorado having Representatives Shannon Bird and Andrew Boesenecker and Senators James Coleman and Dylan Roberts as sponsors. The bill aims to address the state's housing crisis by encouraging the construction of for-sale multifamily housing, such as condominiums and townhomes, through targeted legal reforms related to construction defects. It establishes clear standards for construction defect claims, requiring third- party inspections and reasonable mitigation efforts to protect homeowners without discouraging builders. Additionally, by adjusting statutes of limitation and clarifying responsibilities in defect resolution, the bill ensures that homeowners receive timely, high-quality repairs while fostering a more sustainable housing market. II.Purpose The purpose of this memorandum is to state the support of this bill from the Vail Local Housing Authority and to present a fact sheet. On March 18, 2025, the bill passed out of committee 12-1. As soon as it passes the full house it will move to the Senate where Sen Roberts is a sponsor. 62 2 | P a g e Town of Vail III. Key Provisions Here's a summary of the key provisions: • Multifamily Construction Incentive Program: The bill creates a voluntary program that offers builders who meet higher construction and warranty standards greater protection from construction defect litigation. • Litigation Protections: Builders participating in the program can assert affirmative defenses in lawsuits if damages were caused by extreme weather, third-party actions, owner neglect, post-sale alterations, or a valid release. • Rebuttable Presumption: A certificate of occupancy issued by a state or local government creates a rebuttable presumption that the property is free of defects. Claimants can still argue otherwise but need stronger evidence. • Fee-Shifting: The bill introduces a new attorney fee-shifting provision, but only for projects within the Multifamily Construction Incentive Program. • Increased HOA Approval Threshold: Homeowners Association (HOA) boards must now secure approval from 65% of unit owners (up from a simple majority) before initiating a construction defect claim. • Use of Proceeds: Any damages recovered by an HOA in a construction defect lawsuit must first be used to repair the defects that were the basis of the claim. • Required Response from Construction Professionals: If notified of a defect, construction professionals must either offer to settle or provide a written explanation referencing applicable standards and why the alleged defect doesn't require repair. • Duty to Mitigate: Claimants have a duty to mitigate alleged construction defects, and the bill specifies how this duty can be satisfied and the consequences of failing to do so. • Statute of Limitations: The statute of limitations for construction defect claims is generally extended to 10 years, but it can be reduced to 6 years if the construction professional provides a warranty meeting specific requirements. 63 3 | P a g e Town of Vail • Affidavit Requirement: For middle-market housing, a person filing a construction defect action against an architect or engineer must include an affidavit from a third-party licensed professional indicating negligence or other professional errors. In essence, HB25-1272 seeks to create a more predictable legal environment for developers willing to build under higher standards, with the goal of increasing the supply of attainable for-sale multifamily housing options in Colorado. It also introduces changes to the process and requirements for HOAs pursuing construction defect claims IV. Recommendation HB25-1272 is a crucial step in addressing Colorado’s growing housing crisis and making homeownership more attainable, especially for first-time buyers. Vail Local Housing Authority members encourage the Vail Town Council to review the bill to consider following a Town process to show support of the bill. The Vail Local Housing Authority agrees that this bill is a positive step towards Colorado creating more attainable housing opportunities and ensure that future generations can achieve the dream of homeownership. 64 For More Information, Please Contact: Jason Hopfer, (303) 880-2023, Jason@jlhpublicaffairs.com Karen Wick, 3885-(720) 435 , Karen@swift-strategies.com Sponsors: Representatives Shannon Bird and Andrew Boesenecker; Senators James Coleman and Dylan Roberts HB25-1272 is a crucial step in addressing Colorado’s growing housing crisis and making homeownership more attainable, especially for first-time buyers. Condominiums and townhomes—historically key starter home options—are no longer being built at sustainable rates. According to a 2024 report from Up for Growth, Colorado is facing a shortage of 100,000 homes to meet current needs.1 The high cost of housing2 has meant that we are at an increased risk of losing the very people who make our communities thrive – teachers, nurses, fire fighters and small business owners. By promoting policies that encourage the development of much- needed housing options, this bill helps ensure more Coloradans can access the American Dream and benefit from the stability and financial security of homeownership. Without efforts to boost production of for-sale housing, more Coloradans will be stuck in the rental market. This legislation is a step toward a stronger, more inclusive housing market that benefits individuals, families, and Colorado’s overall economy. The bill introduces fair and balanced reforms to construction litigation, ensuring that high-quality homes are built, problems are fixed and excessive costs that deter development can be reigned in. It establishes clear standards for construction defect claims, requiring third-party inspections and reasonable mitigation efforts to protect homeowners without discouraging builders. Additionally, by adjusting statutes of limitation and clarifying responsibilities in defect resolution, the bill ensures that homeowners receive timely, high-quality repairs while fostering a more sustainable housing market. By passing this legislation, Colorado can create more attainable housing opportunities and ensure that future generations can achieve the dream of homeownership. This bill is a proactive solution that prioritizes consumer protection and incentivizes responsible development, making it a win-win for homeowners and builders alike. Key Provisions 1. Focus on the Missing Middle Market • Defines the middle market as attached homes at or below a certain price point that have also had robust third-party inspections. • Creates a voluntary process – a builder may choose not to build under the criteria outlined in the bill and follow current law. 1 Up For Growth, 2024 Housing Underproduction Report, October 2024 2 Common Sense Institute, Colorado Housing Affordability Report, 2024 Promoting Construction of Middle-Market & Starter Homes Support HB25-1272 65 For More Information, Please Contact: Jason Hopfer, (303) 880-2023, Jason@jlhpublicaffairs.com Karen Wick, 3885-(720) 435 , Karen@swift-strategies.com 2. Construction Defect Claims • Affidavit Requirement: Claimants filing a construction defect lawsuit against an architect or engineer must include a third-party affidavit verifying negligence. • Rebuttable Presumption: A property is presumed not to have defects if a state/local government has issued a certificate of occupancy. Presumption is overcome in several ways: a) actual damage, b) loss of property or c) physical harm. 3. Mitigation of Defects • Construction Professionals must offer a fix, if the claimant refuses the offer, a counteroffer must be made (if practicable) for the repair at the builder’s expense. • Must disclose project plans, maintenance recommendations, and insurance policies related to the claim upon request. • Failure to mitigate or accept reasonable offers may limit future awards of monetary damages. 4. Statute of Limitations • Default statute: 10 years for defect claims if not warranty provided. • Reduced period: 6 years if the builder provides a written warranty with at least: • 1 year for workmanship/materials • 2 years for plumbing, electrical, and HVAC • 6 years for major structural components 5. Homeowners’ Association (HOA) Litigation Changes • Requires 65% approval (up from 50%) from unit owners before an HOA can initiate a defect claim. • Any monetary damages won by the HOA must first be used to repair defects. 6. Affirmative Defenses for Builders • Builders can defend against claims if damages were caused by: a) Natural disasters or uncontrollable events. b) Failure by homeowners to maintain or mitigate issues. c) Unauthorized modifications by homeowners. 66 AGENDA ITEM NO. 4.4 Item Cover Page DATE:April 15, 2025 SUBMITTED BY:Beth Markham, Environmental Sustainability ITEM TYPE:Consent Agenda AGENDA SECTION:Consent Agenda (6:10pm) SUBJECT:Letter of Support to Protect Inflation Reduction Act Tax Credits SUGGESTED ACTION:Approve joining other mountain communities in signing on to the Mountain Towns 2030 Collective's letter of support to Congress in regard to protecting IRA tax credits. VAIL TOWN COUNCIL AGENDA ITEM REPORT ATTACHMENTS: Council Memo - Mountain Towns 2030 IRA Tax Credit Attachment A. Mountain Towns 2030 IRA Letter 67 To:Vail Town Council From:Environmental Sustainability Department Date:April 15, 2025 Subject:Inflation Reduction Act Tax Credit Letter of Support I.Purpose This memorandum provides information on the joint letter of support Mountain Towns 2030 is submitting to the United States Congress to preserve the tax credits in the Inflation Reduction Act, federal climate legislation passed in 2022. II.Background Mountain Towns 2030 is a movement of mountain, rural and ski resort communities working together to accelerate and scale systemic climate action. The Town of Vail has participated in Mountain Towns 2030 since its inception in 2019. Federal budget conversations are happening on Capitol Hill imminently. Mountain Towns 2030 is submitting a letter to the federal House of Representatives Ways and Means Committee and the Senate Finance Committee to preserve many of the funding opportunities from the federal Inflation Reduction Act (IRA) grants that have been frozen by the current federal administration. This IRA funding, including energy efficiency tax credits, helps reduce costs for families and communities, drives incentives for clean energy and infrastructure, and helps communities meet emissions reductions targets, build resilience and create jobs in the local economies. There is bipartisan support at the federal level for keeping this critical funding in place, so all communities signing onto the letter will make a difference in preserving this vital funding. Mountain Towns 2030 is asking for interested participants of Mountain Towns 2030 to support and strengthen this letter by signing on. III.Staff Recommendation Staff recommends the Vail Town Council join the towns of Eagle and Avon, Eagle County, and other mountain towns in the Mountain Towns 2030 collective, in signing on to the letter of support to Congress in regard to protecting IRA tax credits. 68 Town of Vail Page 2 69 Preserve The IRA Tax Credits April 1, 2025 Honorable Chairmen Crapo and Smith and Ranking Members Wyden and Neal: We, the X undersigned local leaders from mountain and rural communities, write to urge you to preserve critical tax incentives that strengthen our communities’ economies and electrical grids, support local job creation, and provide financial relief to our residents. These incentives are pragmatic, market-driven solutions that have delivered measurable benefits to families, businesses, and local governments alike. Specifically, we ask you to protect the residential tax credits—the 25C Energy Efficient Home Improvement Credit and the 25D Residential Clean Energy Credit—which help families invest in energy-efficient improvements, modernize their homes, and reduce utility costs. By taking full advantage of these two credits, the average single-family homeowner would save $1,880 per year, cutting energy bills by two-thirds.[1] These credits have also driven local economic activity, particularly in the construction and manufacturing sectors that supply home energy upgrades.[2] We also ask you to preserve direct pay provisions that have provided our municipalities with essential resources to invest in infrastructure without placing additional burdens on local taxpayers. The 45W Commercial Clean Vehicles Credit, the 30C Alternative Refueling Property Credit, and the 48E Clean Electricity Investment Credit have enabled our towns to upgrade municipal vehicle fleets, build refueling stations, and develop electricity generation projects that stabilize long-term energy costs. These projects have generated local jobs and attracted significant private investment, helping businesses thrive and compete in the modern economy.[3]. For example, the Town of Breckenridge, CO has installed a 260kW solar PV system and added several EV's and chargers to its municipal fleet. The local utility on Colorado's Western Slope will be constructing a 20MW solar farm with battery storage, a new source of reliable energy powering 7,000 homes. Rural school districts in Summit County, UT, Grand County, CO, and Mesa County, CO, have upgraded their school bus fleets, with many more projects awaiting approval. These projects highlight how our communities are strengthening resilience, stabilizing energy costs, and creating local jobs. The stakes are particularly high for mountain towns. Shorter winters, drought conditions, and increasingly unpredictable weather patterns have strained our economies, making it more important than ever to ensure our local economies remain resilient. Our communities cannot afford uncertainty about energy costs or infrastructure investment. Rolling back these incentives would introduce significant uncertainty for households, small businesses, and local governments alike, stalling projects that are already underway and limiting future investment opportunities. If the tax credits are substantially changed or repealed, the Mountain West stands to lose over $36 billion in investment and over 36,000 jobs.[4] 70 We respectfully urge you to preserve both the residential credits (25C and 25D) and the direct pay options for local governments (45W, 30C, and 48E) and, likewise, to avoid any measures that would weaken or otherwise limit the impact of these provisions on our economies. Doing so will ensure continued economic prosperity, energy affordability, and job creation in our communities. Thank you for your time and consideration. Sincerely, Chris Steinkamp, Executive Director Mountain Towns 2030 Travis Coggin, Mayor Town of Vail, Colorado (And list of other communities signing onto this letter) https://docs.google.com/forms/d/e/1FAIpQLSc2BfyXNKvf73SVJln_ik6bAPO7f2hOjwLQt2kIj5H6 wA5UFw/viewform [1] National Renewable Energy Laboratory,ResStock Dataset, 2024. Modeling assumes the installation of heat pumps, heat pump water heaters, and rooftop solar. [2] U.S. Department of Energy,United States Energy & Employment Report, 2024. [3] Aurora Energy Research,Removal of Technology-Neutral Clean Energy Tax Credits Could Cost Upwards of $336 Billion in Investment, Increase Electricity Bills 10% for Consumers, January 2025. [4] Climate Power,The State of the Clean Energy Boom, January 2025. 71 AGENDA ITEM NO. 4.5 Item Cover Page DATE:April 15, 2025 SUBMITTED BY:Chad Salli, Public Works ITEM TYPE:Consent Agenda AGENDA SECTION:Consent Agenda (6:10pm) SUBJECT:Contract Award with 360 Civil Inc. for Meadow Drive Drainage Improvements SUGGESTED ACTION:Authorize the Town Manager to enter into an agreement, in a form approved by the Town Attorney, with 360 Civil for the Meadow Drive Drainage Improvements project, in an amount not to exceed $160,000.00. VAIL TOWN COUNCIL AGENDA ITEM REPORT ATTACHMENTS: Council Memo - Meadow Drive Drainage Improvements 72 To:Town Council From:Public Works Date:04/15/2025 Subject:Meadow Drive Drainage Improvements Contract Award I.ITEM/TOPIC Meadow Drive Drainage Improvements Contract Award II.ACTION REQUESTED OF COUNCIL Authorize the Town Manager to enter into an agreement with 360 Civil, Inc to complete the Meadow Drive Drainage Improvements Project. III.BACKGROUND Staff received 3 bids for the Meadow Drive Drainage Improvements Project from 360 Civil Inc, Icon Inc and Spiegel Construction. The project is budgeted with the Neighborhood Road Reconstruction budget. The project includes replacing existing undersized Culverts at the intersection of Meadow Dr and Meadow Lane, Juniper Dr near Bighorn Park, installing a new culvert crossing of Meadow Dr east of Meadow Lane and roadside ditch grading to increase the roadside swales capacity. The project is scheduled to be completed by August 30, 2025. IV.STAFF RECOMMENDATION Authorize the Town Manager to enter into an agreement, in a form approved by the Town Attorney, with 360 Civil, Inc to complete the Meadow Drive Drainage Improvements Project in the amount not to exceed $160,000.00. 73 AGENDA ITEM NO. 4.6 Item Cover Page DATE:April 15, 2025 SUBMITTED BY:Chad Salli, Public Works ITEM TYPE:Consent Agenda AGENDA SECTION:Consent Agenda (6:10pm) SUBJECT:Contract Award with GM Asphalt Repair LLC for 2025 Vail Overlay Project SUGGESTED ACTION:Authorize the Town Manager to enter into an agreement, in a form approved by the Town Attorney, with GM Asphalt Repair LLC to complete the 2025 Vail Overlay project, in an amount not to exceed $834,000.00. VAIL TOWN COUNCIL AGENDA ITEM REPORT ATTACHMENTS: Council Memo - Overlay Project 74 To:Town Council From:Public Works Date:04/15/2025 Subject:2025 Vail Overlay Contract Award I.ITEM/TOPIC 2025 Vail Overlay Contract Award II.ACTION REQUESTED OF COUNCIL Authorize the Town Manager to enter into an agreement with GM Asphalt Repair LLC to complete the 2025 Vail Overlay Project. III.BACKGROUND Staff received 4 bids for the 2025 Vail Overlay Project from GM Asphalt Repair LLC, United Companies, 360 Paving and DYAS Construction Management. The project is budgeted with the Capital Street Maintenance and Neighborhood Road Reconstruction budgets. Roads included in this year’s asphalt overlay project include Meadow Dr, Meadow Ln, Juniper Ln, Main Gore Dr, Black Gore Dr, Black Bear Ln, Ute Ln and Grouse Ln. The project is scheduled to be completed by October 10, 2025. IV.STAFF RECOMMENDATION Authorize the Town Manager to enter into an agreement, in a form approved by the Town Attorney, with GM Asphalt Repair LLC to complete the 2025 Vail Overlay Project in the amount not to exceed $834,000.00. 75 AGENDA ITEM NO. 4.7 Item Cover Page DATE:April 15, 2025 SUBMITTED BY:Chad Salli, Public Works ITEM TYPE:Consent Agenda AGENDA SECTION:Consent Agenda (6:10pm) SUBJECT:Contract Award with Icon Inc. for West Vail Rectangular Rapid Flashing Beacons Project SUGGESTED ACTION:Authorize the Town Manager to enter into an agreement, in a form approved by the Town Attorney, with Icon Inc. for the West Vail Rectangular Rapid Flashing Beacons project, in an amount not to exceed $340,000.00. VAIL TOWN COUNCIL AGENDA ITEM REPORT ATTACHMENTS: Council Memo - WV RRFB Public Comment - WV RRFB 76 To:Town Council From:Public Works Date:04/15/2025 Subject:West Vail RRFB Contract Award I.ITEM/TOPIC West Vail RRFB Contract Award II.ACTION REQUESTED OF COUNCIL Authorize the Town Manager to enter into an agreement with Icon, Inc to complete the West Vail RRFB Project. III.BACKGROUND Staff received 2 bids for the Meadow Drive Drainage Improvements Project from Icon, Inc and 360 Civil Inc. The project is budgeted with the Pedestrian Safety Enhancements budget. The project includes installation of pedestrian bulb outs on North Frontage Road at the bus stop crosswalk in front of Safeway to shorten the crosswalk distance across the road. Project also includes improved lighting, pavement marking, signage and push button activated Rectangular Rapid Flashing Beacons. The project is scheduled to be completed by July 3, 2025. IV.STAFF RECOMMENDATION Authorize the Town Manager to enter into an agreement, in a form approved by the Town Attorney, with Icon, Inc to complete the West Vail RRFB Project in the amount not to exceed $340,000.00. 77 From:bobalouvail@aol.com To:PublicInputTownCouncil Subject:Consent agenda 4/15/2025 Item 4.7 Date:Monday, April 14, 2025 2:04:35 PM It's with great excitement that West Vail will be getting Rectangular Rapid Flashing Beacons By Safeway- Not. Can never have to many signs, especially flashing ones that most likely will not be activated by those crossing Frontage Road. If there not flashing drivers don't slow down, false sense of security. Cheers Bob Armour 78 AGENDA ITEM NO. 4.8 Item Cover Page DATE:April 15, 2025 SUBMITTED BY:Steph Johnson, Town Manager ITEM TYPE:Contract Award AGENDA SECTION:Consent Agenda (6:10pm) SUBJECT:Contract Award to Mission Critical Partners for Dispatch Study SUGGESTED ACTION:Authorize the Town Manager to enter into an agreement, in a form approved by the Town Attorney, with Mission Critical Partners for dispatch study, in an amount not to exceed $75,000.00. VAIL TOWN COUNCIL AGENDA ITEM REPORT ATTACHMENTS: Council Memo - Mission Critical Partners Attachment A. Mission Critical Partners Agreement 79 75 South Frontage Road West Vail, Colorado 81657 vailgov.com/police Police Department 970.479.2210 970.479.2216 fax April 10, 2025 To: Through: From: Subject: Vail Town Council Town of Vail Ryan Kenney Chief of Police Marc Wentworth Director, VPSCC Request for Dispatch Analysis The Vail Public Safety Communications Center serves four law enforcement agencies, six fire departments and one ambulance district. The communications center is in recovery stage from several years of short staffing.The center is still technically shorthanded due to having nine employees who are in various stages of training and is about to move into a transition of leadership. The cycles of short staff and full staff have repeated themselves four times during the past 20 years, with each round seeming to become more severe. Staffing is the greatest challenge VPSCC faces, indeed it is the greatest threat. Vail PD and VPSCC have sought help in determining what we might do to ensure the sustained viability of emergency communications in Eagle County.We’ve secured a quote from Mission Critical Partners who specialize in these issues. Pitkin County underwent MCR’s assessment in 2021; their director Loeb has recommended this process as being very thorough and their center was given several action items which have proven to be very helpful to their organization. I would like to schedule this assessment for Vail Public Safety Communications, using funds from the Dispatch Service Fund.Approval has been granted from all of the department heads of our user agencies to request these funds, the current balance in the fund is $1,950,054.The SOW and proposed assessment from Mission Critical Partners are attached. 80 1 MissionCriticalPartners.com 690 Gray’s Woods Blvd. | Port Matilda, PA 16870 | 888.862.7911 MCP_HGAC_Total Fee-Rev. 02042025 PROFESSIONAL SERVICES AGREEMENT BETWEEN MISSION CRITICAL PARTNERS, LLC AND VAIL POLICE DEPARTMENT This Agreement for Professional Services (“Agreement”), effective on the last date signed by the parties (“Effective Date”), is made and entered into by and between Mission Critical Partners, LLC (“MCP” or “PROVIDER”), a Delaware limited liability company, with its principal place of business at 690 Gray’s Woods Boulevard, Suite 100, Port Matilda, PA 16870 and Vail Police Department (“CLIENT”) with an address of 75 South Frontage Road West, Vail, CO 81658 (hereinafter collectively the “Parties” and singularly the “Party”). RECITALS WHEREAS, CLIENT desires to employ PROVIDER to provide professional services as further set forth herein; and WHEREAS, PROVIDER represents and acknowledges that they are fully qualified and capable of performing the services called for in this Agreement, and they are willing to perform these services. NOW, THEREFORE, the Parties, in consideration of the mutual promises and covenants contained herein, do mutually agree as follows: SECTION ONE—GENERAL 1.1. Purpose. The purpose(s) of this Agreement is to obtain professional consultant assistance to conduct an operations assessment of the Vail Public Safety Communications Center (VPSCC) (“Purpose”). The scope of service is as defined in Exhibit A attached hereto and by this reference made a part hereof. 1.2. Definitions. Wherever used in this Agreement, the following terms have the meanings indicated which are applicable to both the singular and plural thereof: Agreement. Agreement means this Agreement between CLIENT and PROVIDER for professional services, including all exhibits, schedules and attachments which are hereby incorporated into and made part of this Agreement by reference. To the extent there are any conflicts between this Agreement and any exhibits, schedules and attachments, the provisions of this Agreement shall control. Services. Services shall mean all services, work, deliverables, and all related professional, technical and administrative activities that are necessary to perform and complete the Services required pursuant to the terms and provisions of this Agreement as set forth in Exhibit A. 81 2 MissionCriticalPartners.com 690 Gray’s Woods Blvd. | Port Matilda, PA 16870 | 888.862.7911 MCP_HGAC_Total Fee-Rev. 02042025 Additional Services. Additional Services means professional services to be performed for or furnished to CLIENT by PROVIDER, not set forth as Services in Exhibit A of this Agreement. Deliverables. Deliverables are those items of work product that are to be delivered to CLIENT as enumerated in Exhibit A of this Agreement. Expenses. Expenses means those expenditures specifically and directly incurred as the result of providing Services (e.g., travel, per diem costs and materials used). SECTION TWO—OBLIGATIONS OF THE PROVIDER AND CLIENT 2.1. PROVIDER Responsibilities. PROVIDER shall have and perform the following duties, obligations and responsibilities to CLIENT as outlined in Exhibit A. a. PROVIDER shall provide and perform all Services pursuant to this Agreement in accordance with generally accepted standards of professional practice, and in accordance with laws, statutes, ordinances, codes, rules, regulations and requirements of governmental agencies that regulate or have jurisdiction over the Services to be provided and/or performed by the PROVIDER. b. PROVIDER shall maintain all necessary licenses, permits or other authorizations necessary to perform the Services under this Agreement until the duties hereunder have been fully satisfied. c. PROVIDER shall prepare all Deliverables required by this Agreement including, but not limited to, all specifications and reports, in such a manner that they shall be accurate, coordinated, and adequate for the purposes intended and shall be in conformity and comply with all applicable law, codes and regulations. 2.2. CLIENT Responsibilities. CLIENT shall have and perform the following duties, obligations, and responsibilities to PROVIDER: a. Provide access to information, sites, personnel, agencies and other sources necessary for PROVIDER to complete the Services. b. Designate in writing a person to act as CLIENT’s representative with respect to the Services to be performed or furnished by PROVIDER under this Agreement. Such person shall have complete authority to transmit instructions, receive information and interpret and define CLIENT’s policies and decisions with respect to the Services. CLIENT’s designated person is Ryan Kenney, Chief of Police. c. CLIENT shall be responsible for, and PROVIDER may rely upon, the accuracy and completeness of all reports, data, and other information furnished by CLIENT to carry out the Services provided under this Agreement. d. Should any agency charge PROVIDER a fee for any required information or data under this Agreement, CLIENT will reimburse PROVIDER for the cost of any such fees incurred. 82 3 MissionCriticalPartners.com 690 Gray’s Woods Blvd. | Port Matilda, PA 16870 | 888.862.7911 MCP_HGAC_Total Fee-Rev. 02042025 SECTION THREE—SERVICES 3.1. Services. 3.1.1. Provider will provide all Services and Deliverables as set forth in Exhibit A of this Agreement. 3.1.2. CLIENT will pay PROVIDER for Services in accordance with Section 6—Compensation. SECTION FOUR—ADDITIONAL SERVICES 4.1. Additional Services. Should CLIENT request PROVIDER provide and perform professional services under this Agreement not set forth in Exhibit A, PROVIDER agrees to provide and perform those Additional Services as may be agreed to in writing by the Parties. 4.1.1. Additional Services shall be administered and executed as change orders or amendments under this Agreement. PROVIDER shall not provide or perform, nor shall CLIENT incur or accept any obligation to compensate PROVIDER for any Additional Services, unless a written change order or amendment shall be executed by the Parties. 4.1.2. Additional Services not set forth in Exhibit A will be performed based on PROVIDER’s then-current hourly rate schedule. 4.1.3. Each such change order or amendment shall set forth a description of: (a) the scope of the Additional Services requested; (b) the basis and amount of compensation; (c) the applicable hourly rate schedule; and (d) the period of time and/or schedule for performing and completing the Additional Services. 4.1.4. A waiver of an executed change order or amendment under this Section may be approved by the Parties to accommodate (1) a bona fide emergency justifying immediate award or the start of performance or completion of the contract; or (2) federal or state law that requires award or completion of the contract by a particular date. Any such waiver must be subsequently approved by the Parties, in writing, within fifteen (15) business days of waiver execution under this Section 4.1.4. SECTION FIVE—TIME OF PERFORMANCE 5.1. Notice to Proceed. Upon execution of this Agreement by CLIENT, CLIENT will issue a formal Notice to Proceed to PROVIDER. The PROVIDER shall commence work by attending a project kickoff meeting within ten (10) business days of issuance of the Notice to Proceed, or at a mutually acceptable date as determined by the Parties. 5.2. Time of Performance. The PROVIDER agrees to complete the Services required pursuant to this Agreement within the time period(s) for completion of the various phases and/or tasks of the Services set forth and described in Exhibit A of this Agreement. 5.3. Timeline. If Exhibit A does not set forth a timeline for the completion of the Services, the Parties mutually agree to develop a schedule that will be made part of this Agreement by amendment signed by both Parties. It is expected that both Parties will carry out their respective responsibilities diligently and expeditiously so as not to delay each other in completing the mutually agreeable schedule. 83 4 MissionCriticalPartners.com 690 Gray’s Woods Blvd. | Port Matilda, PA 16870 | 888.862.7911 MCP_HGAC_Total Fee-Rev. 02042025 5.4. Times for Rendering Services. If, in Exhibit A, specific periods of time for rendering Services and specific deadlines for Services to be completed are established, and if such periods of time or dates are changed through no fault of PROVIDER, the rates and amounts of compensation provided for herein shall be subject to equitable adjustment as provided below. If CLIENT has requested changes in scope, extent or character of the Services, the time of performance of PROVIDER’s services shall be adjusted equitably as provided below. If there are changes in the time periods or due dates for a given Deliverable or Service, or there is a change to the scope, extent or character of the Services, PROVIDER shall declare in writing its intent to request an equitable adjustment for any increase in cost or fee and disclose in writing the extent of the increase prior to beginning the work or service. No work will commence under such circumstances until the Parties come to a mutual agreement on a dollar value for the equitable adjustment. 5.5. Excusable Delays. PROVIDER shall not be considered in default by reason of any failure in performance if such failure arises out of causes reasonably beyond the control of PROVIDER, or its subcontractor(s), and without their fault or negligence. Such causes include, but are not limited to, acts of God; acts of a public enemy; natural or public health emergencies; labor disputes; freight embargoes; and abnormally severe and unusual weather conditions (collectively “Force Majeure Occurrences”). Any such delays shall not be a breach of or failure to perform under this Agreement or any part thereof and neither party shall be liable to the other for any liability claims, damages or other loss caused by or resulting from a Force Majeure Occurrence. Upon PROVIDER’s request, CLIENT shall consider the facts and extent of any failure to perform the work, and if the failure to perform by PROVIDER was without its or its subcontractors’ fault or negligence, the Parties will use their best efforts to revise the contract schedule and/or any other affected provision of this Agreement accordingly. SECTION SIX—COMPENSATION 6.1. Fees. For and in consideration of the Services described in Exhibit A of this Agreement, CLIENT agrees to pay PROVIDER a total fee of $70,962, including expenses. Services will be performed at the agreed upon hourly rates as listed in Schedule B, Houston Galveston Area Council (H-GAC) Purchase Contract #HP08-21, with expenses defined at cost. 6.2. Invoices. 6.2.1. At the close of each month during this Agreement, PROVIDER shall submit to CLIENT, a properly executed invoice showing Services rendered hereunder for the closed month. Each invoice shall include the percentage of work completed with respect to the contracted amount identified in Section 6.1. CLIENT shall review such statement and pay it within thirty (30) days of receipt. Invoices shall be sent to: Client Name: Vail Police Department c/o Ryan Kenney, Chief of Police Address: 75 South Frontage Road West City, State, Zip: Vail, CO 81658 Email: RKenney@vail.gov 84 5 MissionCriticalPartners.com 690 Gray’s Woods Blvd. | Port Matilda, PA 16870 | 888.862.7911 MCP_HGAC_Total Fee-Rev. 02042025 6.2.2. If CLIENT fails to make payment due to PROVIDER for Services and Expenses within thirty (30) days after receipt of invoice, the amounts due to PROVIDER shall be increased at the rate of 1% per month from said thirtieth (30th) day. In addition, PROVIDER may suspend Services under this Agreement until PROVIDER has been paid in full for all amounts due. In the event of a disputed or contested billing, only that portion so contested may be withheld from payment, and the undisputed portion shall be paid. SECTION SEVEN—GENERAL CONSIDERATIONS 7.1. Direction and Control. PROVIDER agrees that PROVIDER will perform the Services under this Agreement as an independent contractor and not as an agent, employee, or servant of CLIENT. The Parties agree that PROVIDER is not entitled to any benefits or rights enjoyed by employees of CLIENT. PROVIDER specifically has the right to direct and control PROVIDER’s own activities in providing the agreed upon Services in accordance with the specifications set out in this Agreement. CLIENT shall only have the right to ensure performance. Nothing in this Agreement shall be construed to render the Parties partners or joint venturers. 7.2. Ownership. Unless otherwise provided for in this Agreement, all deliverables, reports, plans, specifications, data and documents produced in the performance of the Services shall become the property of CLIENT. 7.2.1. Pre-Existing Intellectual Property. Unless otherwise provided in writing, the PROVIDER shall be deemed the author of and shall retain all common law, statutory and other reserve rights to all pre-existing intellectual property including the copyright of any drawings, specifications, proprietary programming, data solutions and other documents prepared or otherwise obtained by PROVIDER or its affiliates independent of this Agreement. 7.3. Successors and Assigns. CLIENT and PROVIDER each bind the other and their respective successors and assigns in all respects to all of the terms, conditions, covenants and provisions of this Agreement. 7.4. Confidentiality. CLIENT and PROVIDER agree the other shall not disclose, transfer, sell or otherwise release confidential information gained by reason of performance under this Agreement to any third party. Such information shall be used solely for the purposes necessary to meet the requirements under this Agreement. PROVIDER shall not access any information which PROVIDER is not authorized to receive, and under no circumstances shall PROVIDER at any time, during the term of this Agreement or thereafter, release or divulge any confidential material, information or documents received during the performance of the Services hereunder without express written consent of CLIENT, nor shall PROVIDER copy, recreate or use any such confidential information or documents other than for the performance of this Agreement. PROVIDER shall not divulge or otherwise make use of trade secrets or other confidential information, procedures or policies under this Agreement. Neither shall PROVIDER copy, recreate or use any proprietary information of any third party in the performance of this Agreement except to the extent authorized by such third parties. This Agreement is confidential and proprietary, and neither Party may disclose its contents without the prior written consent of other Party. 7.5. Conflict of Interest. PROVIDER represents that it presently has no interest and shall acquire no interest, either direct or indirect, which would conflict in any manner with the performance of Services required hereunder. 85 6 MissionCriticalPartners.com 690 Gray’s Woods Blvd. | Port Matilda, PA 16870 | 888.862.7911 MCP_HGAC_Total Fee-Rev. 02042025 7.6. Termination. Either Party may unilaterally terminate this Agreement for any of the following reasons, so long as the terminating Party has notified the other Party of its intent to terminate, the reason for such termination, and allowed the other Party no less than thirty (30) business days prior to the effective termination date in which to cure the stated reasons: a. Actual failure of the other Party to fulfill its obligations hereunder; b. Anticipated failure of the other Party to fulfill its obligations hereunder, or anticipated inability of the other Party to perform the work, due to: (a) inadequate financial capability or (b) loss or material degradation of corporate capabilities which are essential to the requirements of this Agreement, including without limitation, loss or unavailability of the other Party’s key employees; c. The insolvency of the other Party or the filing by or against the other Party of a petition, arrangement, or proceeding seeking an order for relief under the bankruptcy laws of the United States, a receivership for any of the assets of the other Party, a composition with or assignment for the benefit of creditors, a readjustment of debt, or the dissolution or liquidation of the other Party. Upon termination of this Agreement, CLIENT shall pay PROVIDER for Services rendered and Expenses incurred hereunder which have not been previously paid or disputed by CLIENT for the period up to the effective date of termination. 7.7. Notices. Whenever notice is required by the terms of this Agreement, such notice shall be in writing and shall be deemed sufficiently given and received in all respects when a) delivered in person (by hand or by courier service requiring signed acceptance), b) sent by certified mail (return receipt requested), or c) sent by electronic mail (with delivery confirmation received by sender), and addressed as follows: If to CLIENT: Ryan Kenney, Chief of Police Vail Police Department 75 South Frontage Road West Vail, CO 81658 Email: RKenney@vail.gov If to PROVIDER: Darrin J. Reilly, President and Chief Executive Officer Mission Critical Partners, LLC 690 Gray’s Woods Boulevard, Suite 100 Port Matilda, PA 16870 Email: Contracts@MissionCriticalPartners.com 7.8. Non-assignment. PROVIDER shall not subcontract or otherwise assign any of the rights, duties or obligations covered by this Agreement without the prior express written consent of CLIENT. 7.9. Governing Law. This Agreement shall be governed by the laws of the state in which the Services are provided. 7.10. Entire Agreement. This Agreement and all exhibits hereto constitute the entire agreement between the Parties and supersedes all prior written or oral agreements, understandings or 86 7 MissionCriticalPartners.com 690 Gray’s Woods Blvd. | Port Matilda, PA 16870 | 888.862.7911 MCP_HGAC_Total Fee-Rev. 02042025 representations. No change, modification, alteration or addition to the terms and conditions of this Agreement shall be binding unless in writing and signed by authorized representatives of both Parties. Nothing in this Agreement shall be construed to give any rights or benefits to any other party, and all duties and responsibilities undertaken pursuant to this Agreement are for the sole and exclusive benefit of the Parties to this Agreement. 7.11. Counterparts. This Agreement may be executed in any number of and by the different Parties hereto on separate counterparts, each of which when so executed shall be deemed to be an original, and such counterparts shall together constitute but one and the same instrument. 7.12. Severability. Any provision or part of this Agreement held to be void or unenforceable under any law or regulation shall be deemed stricken, and all remaining provisions shall continue to be valid and binding upon CLIENT and PROVIDER, who agree that this Agreement shall be reformed to replace such stricken provision or part thereof with a valid and enforceable provision that comes as close as possible to expressing the intention of the stricken provision. 7.13. Non-waiver. A Party’s failure or delay in exercising any right, power, or privilege under this Agreement, whether explicit or by lack of enforcement, shall not operate as a waiver, nor shall any single or partial exercise of any right, power, or privilege preclude any other or further exercise of such right, power, or privilege. 7.14. Captions and Section Headings. Captions and section headings included in this Agreement are intended for convenience only and shall not be used to construe, explain or modify this Agreement in any manner whatsoever. 7.15. Project Records. For a period of two (2) years after completion of all work to be performed, PROVIDER shall keep and make available to CLIENT for inspection and copying, upon written request by CLIENT, all records in PROVIDER’s possession relating to this Agreement. 7.16. Affirmative Action and Equal Opportunity Employer. The Parties agree to abide by the requirements of the following as applicable: Title VI and Title VII of the Civil Rights Act of 1964, as amended by the Equal Employment Opportunity Act of 1972, Federal Executive Order 11246 as amended, the Federal Rehabilitation Act of 1973 as amended, the Vietnam Era Veteran’s Readjustment Assistance Act of 1974, the Age Discrimination Act of 1975, and the Americans with Disabilities Act of 1990. Moreover, PROVIDER requires its subcontractors to comply with all applicable Affirmative Action and Equal Opportunity Employer provisions. The Parties do not discriminate on the basis of actual or perceived race, color, creed, religion, national origin, ancestry, citizenship status, age, sex or gender (including pregnancy, childbirth, pregnancy-related conditions, and lactation), gender identity or expression (including transgender status), sexual orientation, marital status, military service and veteran status, physical or mental disability, genetic information, or any other characteristic protected by applicable federal, state, or local laws and ordinances. Such action shall include, but not be limited to, recruitment, hiring, placement, promotion, transfer, training, compensation, benefits, staff member activities, access to facilities and programs, and general treatment during employment. PROVIDER does not allow any form of retaliation against staff members who raise issues of equal employment opportunity. 7.17. Indemnification. 7.17.1. To the fullest extent permitted by law, CLIENT shall indemnify, defend and hold PROVIDER harmless from and against any and all damages, losses, liabilities, and expenses (including reasonable attorney’s fees) arising out of or relating to claims, causes of actions, lawsuits or other 87 8 MissionCriticalPartners.com 690 Gray’s Woods Blvd. | Port Matilda, PA 16870 | 888.862.7911 MCP_HGAC_Total Fee-Rev. 02042025 proceedings, regardless of legal theory, that result in whole or in part, from CLIENT’s officials, officers, directors, agents, employees and contractors/subcontractors: (a) negligence; intentional misconduct or fraud; (b) substantial breach of representation, warranty or covenant made herein, or (c) any claims that products or services provided infringe any other proprietary right of any third party. 7.17.2. To the fullest extent permitted by law, PROVIDER shall indemnify, defend and hold CLIENT harmless from and against any and all damages, losses, liabilities, and expenses (including reasonable attorney’s fees) arising out of or relating to claims, causes of actions, lawsuits or other proceedings, regardless of legal theory, that result in whole or in part, from PROVIDER’s officials, officers, directors, agents, employees and contractors/subcontractors: (a) negligence; intentional misconduct or fraud; (b) substantial breach of representation, warranty or covenant made herein, or (c) any claims that products or services provided infringe any other proprietary right of any third party. 7.17.3. Notwithstanding any provision in this Agreement to the contrary, neither Party, nor its officials, officers, directors, agents, employees and contractors/subcontractors, shall be liable hereunder for any consequential or indirect loss or damage or any other special, incidental or punitive damages including but not limited to loss of use, delay, or lost profits incurred or suffered hereunder by the other Party or its officials, officers, directors, agents, employees or contractors/subcontractors, unless such damages are based upon the gross negligence or willful misconduct of, CLIENT or PROVIDER. 7.18. Non-solicitation of Employees. During and for one (1) year after the term of this Agreement, CLIENT will not solicit the employment of, nor employ the PROVIDER's personnel, without the PROVIDER's prior written consent. 7.19. Arbitration. All disputes arising between the Parties in connection with this Agreement, which cannot first be settled amicably and satisfactorily between the Parties, shall be finally settled under the rules of arbitration of the American Arbitration Association by a mutually agreeable arbitrator selected by the Parties. If the Parties cannot agree upon a single arbitrator, the matter shall be submitted to a board of three arbitrators with each Party appointing one arbitrator and the two arbitrators so selected appointing the third arbitrator. The award of the arbitrator(s) shall be final and binding. No Party shall be entitled to, and the arbitrator is not authorized to, award legal fees, expert witness fees, or related costs of a Party. The arbitration shall be held in Centre County, Pennsylvania. 7.20. Uniform Administrative Requirements. Federal funds will be used or may be used to pay for all or part of the services under this Agreement. CLIENT agrees, at CLIENT’s expense, to comply with all applicable provisions of Title 2, Subtitle A, Chapter II, Part 200 – Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards contained in Title 2 C.F.R. § 200 et seq. 7.21. Limitation of Liability. EXCEPT AS IT RELATES TO (i) BREACHES OF CONFIDENTIALITY; (ii) A PARTY’S INDEMNIFICATION OBLIGATIONS HEREUNDER; OR (iii) A PARTY’S GROSS NEGLIGENCE OR WILLFUL MISCONDUCT (COLLECTIVELY, “EXCEPTIONAL CIRCUMSTANCES”), IN NO EVENT WILL EITHER PARTY BE LIABLE TO THE OTHER, OR ANY OTHER PERSON OR ENTITY FOR ANY INDIRECT, INCIDENTAL, CONSEQUENTIAL, SPECIAL, PUNITIVE, EXEMPLARY, OR EXTRA-CONTRACTUAL DAMAGES OF ANY KIND WHATEVER ARISING FROM OR CONNECTED WITH THIS AGREEMENT, THE SERVICES, THE PRODUCTS, OR THE CONFIDENTIAL INFORMATION OF A PARTY, INCLUDING LOST PROFITS, LOST REVENUES, OR LOSS OF BUSINESS, REGARDLESS OF LEGAL THEORY, WHETHER OR NOT FORESEEABLE, EVEN IF ANY PARTY HAS BEEN ADVISED OF THE POSSIBILITY OR PROBABILITY OF SUCH DAMAGES AND EVEN IF THE REMEDIES OTHERWISE PROVIDED BY THIS AGREEMENT, IF ANY, FAIL OF THEIR ESSENTIAL PURPOSE. 88 9 MissionCriticalPartners.com 690 Gray’s Woods Blvd. | Port Matilda, PA 16870 | 888.862.7911 MCP_HGAC_Total Fee-Rev. 02042025 IN NO EVENT SHALL EITHER PARTY BE LIABLE IN THE AGGREGATE FOR ANY CLAIMS OR DAMAGES UNDER OR IN CONNECTION WITH THIS AGREEMENT IN ANY AMOUNT EXCEEDING THE FEES ACTUALLY PAID UNDER THIS AGREEMENT DURING THE ONE (1) YEAR PERIOD PRECEDING THE DATE THE CAUSE OF ACTION GIVING RISE TO THE LIABILITY AROSE. 7.22. General Announcement. Notwithstanding any other provision of this Agreement, the Parties agree that PROVIDER may issue a press release or similar public announcement related to the overall Purpose of this Agreement subsequent to notification of CLIENT. 7.23. Insurance. The PROVIDER shall obtain and maintain adequate insurance, including professional liability insurance and any other insurance which CLIENT reasonably may require. Upon CLIENT’s request, PROVIDER will promptly furnish CLIENT with certificates of insurance showing such coverage and naming CLIENT as an additional insured for the duration of this Agreement. 7.24. Signatory. Each signatory to this Agreement represents that they have full and sufficient authority to execute this Agreement on behalf of CLIENT or PROVIDER, as the case may be, and that upon execution of this Agreement, it shall constitute a binding obligation of CLIENT and PROVIDER. IN WITNESS WHEREOF, the Parties hereto have caused this Agreement to be executed by their duly authorized representatives as of the Effective Date. Witness: Mission Critical Partners, LLC (PROVIDER) By: Date: Witness: Vail Police Department (CLIENT) By: Date: 89 10 MissionCriticalPartners.com 690 Gray’s Woods Blvd. | Port Matilda, PA 16870 | 888.862.7911 MCP_HGAC_Total Fee-Rev. 02042025 EXHIBIT A—SCOPE OF WORK Project Understanding Mission Critical Partners® (MCP) understands that the Vail Public Safety Communications Center (VPSCC), located within the Vail Police Department, is the primary emergency communications center (ECC) for 12 public safety agencies across Eagle County, Colorado. VPSCC handles 911 calls and dispatch operations for all fire and emergency medical service (EMS) districts and law enforcement agencies within its jurisdiction. As a world-renowned tourist destination, Vail presents unique challenges for emergency communication services. Its central location, approximately 90 minutes from Denver via Interstate 70, attracts a large influx of visitors, driving a surge in service demand. Furthermore, the region’s high cost of living has made attracting and retaining long-term staff challenging, contributing to high employee turnover. Despite recent measures, such as signing bonuses and salary increases, staffing challenges persist, creating an urgent need for innovative solutions to ensure sustainable operations. MCP recognizes that VPSCC seeks an independent, comprehensive operational assessment to address these challenges and establish short- and long-term strategies. This assessment will examine the organizational structure, operational functions, technology capabilities, and staffing levels to develop a holistic and sustainable model. MCP’s assessment will focus on identifying risk areas while providing actionable recommendations to help VPSCC maintain its exceptional level of service, adopt emerging technologies, and improve workforce stability. Key Challenges Identified • Staffing Challenges: Persistent turnover rates due to high living costs and the transient nature of the workforce. • Seasonal Demand: Increased call volumes during tourist seasons, straining resources and operational capacity. • Technology Integration: Limited adoption of emerging technologies to optimize workflows, improve triaging, and leverage data-driven insights. • Shared Resource Opportunities: Untapped opportunities to collaborate with neighboring agencies for shared systems, technology, and operational support. • Alternative Response Models: Growing interest in innovative emergency response strategies, such as embedding clinicians and utilizing telehealth solutions. Assessment Priorities VPSCC seeks MCP's support in the following areas: • Organizational Assessment: Evaluate the existing structure and identify opportunities for optimization. • Staffing Analysis: Assess current staffing levels, address gaps, and anticipate future needs based on regional growth trends. • Technology Integration: Review and recommend emerging technologies to improve operational efficiencies. 90 11 MissionCriticalPartners.com 690 Gray’s Woods Blvd. | Port Matilda, PA 16870 | 888.862.7911 MCP_HGAC_Total Fee-Rev. 02042025 • Shared Resources: Explore opportunities for collaboration, including shared technology platforms, operational support frameworks, and resource pooling, to promote efficiency and effectiveness. MCP understands that VPSC needs a holistic assessment that will look at factors impacting a long-term sustainable operational and organizational model. Ultimately, the assessment will allow MCP to identify areas of risk and recommendations for the ECC to continue to provide excellent customer service, sustain effective technology, and retain employees. Specifically, VPSC seeks the following priorities for an assessment: • Perform an organizational assessment of the existing structure • Assess the effectiveness of staffing levels under current conditions and anticipate future staffing needs based on current growth trends within emergency services • Assess emerging technologies and alternative response • Assess, from a strategic viewpoint, the current operation and identify other regional opportunities for long-term sustainable operations As the nation’s largest public safety focused consulting firm, MCP possesses unique expertise—the same expertise that VPSC seeks to provide the requested assessment and associated deliverables to set a foundation for achieving the vision of creating sustainable emergency communications operation. MCP is committed to delivering the following deliverables in an efficient manner to meet VPSCC’s desired three-to-five-month timeline: • Perform an assessment and make recommendations of VPSCC operations with a focus on sustainable operational efficiencies • Assess current and future workforce needs • Assess current emerging technologies to improve operational efficiencies • Assess regional opportunities for organic regionalization Ultimately, the assessment and recommendations will allow VPSCC leadership to understand current operations and, where necessary, a strategy to prioritize future needs. This focus will allow for greater operational and workforce efficiencies across the public safety communications services that VPSCC provides. To meet or exceed VPSCC’s expectations, the assessment will require an approach that is not only reasonable and responsive to VPSCC’s needs but one that results in recommendations that are both practical and actionable. MCP will partner with VPSCC using a variety of different mechanisms to understand your unique public safety communications landscape in order to collect data on VPSCC’s performance and current practices in the key focus areas. This leverages the use of an assessment model unique to MCP to analyze your data and produce an impactful visual model that highlights the opportunities within the organization. To achieve the desired results, MCP will conduct an assessment that focuses on VPSCC – identifying what is being done well, where improvements may be justified, considerations for the adequacy of current space to meet future needs, and current and future emerging technology while considering the role of the ECC in emergency response outcomes. 91 12 MissionCriticalPartners.com 690 Gray’s Woods Blvd. | Port Matilda, PA 16870 | 888.862.7911 MCP_HGAC_Total Fee-Rev. 02042025 Scope of Work To meet VPSCC’s three-to-five-month project timeline, MCP is committed to delivering: • A comprehensive assessment with recommendations focused on sustainable operational efficiencies. • Workforce analysis to address current and future staffing needs. • A technology roadmap outlining current and emerging technologies for improved operational outcomes. • An exploration of shared resource opportunities, including mutual aid, shared systems, and cooperative strategies for operational success. MCP’s Approach As the nation’s largest public safety-focused consulting firm, MCP brings unmatched expertise to this engagement. Our proprietary assessment models and methodologies ensure a thorough understanding of VPSCC’s unique landscape. MCP will employ qualitative and quantitative data analysis, stakeholder interviews, and industry benchmarking to identify what works well and where improvements are necessary. Our focus areas include operational readiness, physical and technological infrastructure adequacy, and strategies to enhance emergency response outcomes. To achieve the desired results, MCP’s assessment will emphasize: • Identifying strengths and opportunities for improvement within VPSCC’s current operations. • Tailoring recommendations to address both short-term challenges and long-term sustainability goals. • Collaborating with stakeholders to develop practical, actionable solutions aligned with VPSCC’s vision. By delivering a clear and actionable roadmap, MCP aims to empower VPSCC leadership with the tools and strategies needed to navigate current challenges and establish a sustainable future for emergency communication services in Eagle County. MCP proposes a four-phased approach outlined below. Phase 1: Project Initiation The MCP team will initiate this project by conducting a facilitated virtual project initiation meeting with VPSCC’s core team to conduct introductions. The meeting will set the overall foundation for the tasks outlined, allow the teams to review the scope of work (SOW) and high-level project schedule, and confirm the data-gathering needs. The meeting is typically recorded so that those who are germane to the project Phase 1: Project Initiation Phase 2: Discovery Process Phase 3: Analysis and Assessment Phase 4: Draft and Final Report 92 13 MissionCriticalPartners.com 690 Gray’s Woods Blvd. | Port Matilda, PA 16870 | 888.862.7911 MCP_HGAC_Total Fee-Rev. 02042025 but unable to be present can view the meeting at their convenience. To gather the data needed to accomplish this project, MCP will work with VPSCC to finalize the information-gathering strategy. The onsite kickoff meeting with VPSCC’s core team typically occurs two to three weeks after the project's introduction meeting. Our project manager (PM) and staff will meet with the VPSCC core team and key stakeholders. MCP’s PM will facilitate the meeting to clarify roles as well as review and align project scope, milestones, schedules, and deliverables. Deliverables: • Virtual project introduction meeting • Onsite project kickoff meeting • Updated project schedule • Coordination of bi-weekly project progress calls Phase 2: Discovery Process To gather the data needed to achieve your goals, MCP’s team will work with VPSCC to finalize the information-gathering strategy and schedule in conjunction with the planning for the on-site kickoff meeting and data gathering. As noted above, MCP suggests scheduling the site visit for two to three weeks after the virtual project introduction meeting. This will allow time for the initial data to be uploaded and reviewed before being on site and, most importantly, for alignment with VPSCC staff and stakeholder schedules to promote attendance and participation. MCP uses qualitative and quantitative data to support exploratory, people-based research and engagement to examine the challenges at hand. Based on MCP’s understanding of VPSCC’s needs, MCP’s PM and select subject-matter experts (SMEs) anticipate spending three days on site conducting interviews, focus groups, listening sessions, visioning sessions, and observations in the communications center. Information gathering and stakeholder engagement can be time consuming, so a well-conceived plan to gather this amount of data is imperative to success. Therefore, the MCP team will leverage our extensive nationwide stakeholder outreach and facilitator experience to make the process as efficient as possible for all participants. The MCP team will interact with various stakeholders to gain the most information and best perspective to develop a clear vision of how MCP can support and/or enable VPSCC to achieve the goals and objectives defined in the project understanding and others as they may arise during the project. Data collected and reviewed in studies such as those requested by VPSCC serves to assess the areas requested by VPSCC as well as uncover hidden challenges and bring creative solutions to historically persistent issues that continue to impact the effectiveness of communications centers, field responders, Phase 1: Project Initiation Phase 2: Discovery Process Phase 3: Analysis and Assessment Phase 4: Draft and Final Report 93 14 MissionCriticalPartners.com 690 Gray’s Woods Blvd. | Port Matilda, PA 16870 | 888.862.7911 MCP_HGAC_Total Fee-Rev. 02042025 and communities nationwide. The intent is to measure each factor’s overall impact and lay the foundation for long-term strategic efforts. Information Compilation It is important to note that the level of detail that MCP is able to provide in a report is highly contingent upon the quality of the data provided by VPSCC. To mitigate roadblocks to the best of everyone’s ability, MCP will provide VPSCC with a data-gathering checklist, an electronic data-collection tool, and an upload link to MCP’s secure file-sharing system. MCP will then facilitate a remote data-gathering review call. The call will answer any questions VPSCC may have about the requested data, troubleshoot known issues that may exist with acquiring the requested data, and discuss alternatives should particular data be known to be inaccessible or too cumbersome to obtain. Data Required Based on VPSCC’s capabilities, MCP will determine what data will need to be provided to accomplish the objectives in the stated key areas of interest. This may include: Data Collection • Operating budget and cost-sharing models • Organizational structure diagrams • Roles, responsibilities, and position descriptions of all communications positions • Past studies (e.g., RETAINS) • Current/past strategic plans (as applicable) • Communications recruiting and hiring workflow • Current personnel • Processes/workflow • Command structure/oversight • External support provided to other agencies • List of Public Safety Answering Point (PSAP) accreditations • List of PSAP-related planned/in-progress initiatives • Relevant annual reports • Recruiting, hiring, training, and retention statistics • List of any existing service level benchmarks/ metrics • List of adopted national standards • Emergency and non-emergency call volumes and processing times • Call-answering statistics • Incident volumes (including events generated from the field) and processing times • Personnel leave data • Structured protocols usage • Division of duties and responsibilities • Supervisory duties • Schedules • Ancillary tasks such as warrant entry and other duties • Continuity of Operations (COOP) plans • Current and planned technology and infrastructure 94 15 MissionCriticalPartners.com 690 Gray’s Woods Blvd. | Port Matilda, PA 16870 | 888.862.7911 MCP_HGAC_Total Fee-Rev. 02042025 Leverage Existing Research and Initiatives MCP will leverage information from previous and current relevant work provided by VPSCC, client agencies, and other stakeholders. One of the most valuable aspects of engaging MCP as your partner in this endeavor is our commitment to innovation, constant engagement in industry working groups (i.e., National Emergency Number Association [NENA] 911/988), publication of blogs and whitepapers on topics across the entire public safety communication ecosystem, and production of webinars focused on client interests. As a result, MCP has developed an extensive library that we use to solve our clients' persistent and new challenges. Interviews, Focus Groups, and Listening Sessions We will interact with a variety of stakeholders to gain the most information and the best perspective to develop a clear vision of how your public safety communications environment operates today and what needs to be changed to meet and exceed current service levels in the future. MCP’s approach is to understand the operational emergency, non-emergency, and administrative service levels desired by VPSCC. The demands placed upon VPSCC, your partner agencies, and the communities will dictate the viability of the recommendations. MCP will also factor in cost of living and ability to attract and retain long- term employees. MCP will obtain user feedback through interviews with representatives of the stakeholder group as defined by the project team. It is expected that this group will include VPSCC leadership as well as the executive-level leaders of the agency. Representatives from VPSCC, including operations staff, will also be part of this approach. The intent of the interviews is to build an accurate understanding of the issues and concerns that have brought about this study. Visioning Sessions MCP intends to hold two visioning sessions (up to 8 hours total): • Visioning Session One: Immediately following the project initiation meeting, the consulting team will conduct this strategic visioning session with identified key internal stakeholders. The results of this session, along with the success metrics identified in the project initiation meeting, will set the direction for this study. During this session, objectives will be identified along with risks, constraints, and opportunities. • Visioning Session Two: At the end of the onsite visit and prior to departure, MCP will facilitate a second visioning session with both internal and external stakeholders (regional partners) to discuss overarching challenges with providing emergency communications to the region and to identify opportunities for organic regionalization initiatives (physical, technical, or policy-based). ECC Operational Observation To further understand VPSCC and the responders’ operational environment, the MCP team will visit and observe operations. We will speak with supervisors, call-takers, dispatchers, and support staff about topics relevant to the tasks at hand. The MCP team may also engage departments such as human resources and information technology as well as individuals with experience in relevant operational environments. To maintain productivity, MCP uses data collection tools for quantitative data wherever possible. To minimize stakeholder distractions and time away from their responsibilities, MCP reserves face-to-face engagements for observation and insightful qualitative discussions. 95 16 MissionCriticalPartners.com 690 Gray’s Woods Blvd. | Port Matilda, PA 16870 | 888.862.7911 MCP_HGAC_Total Fee-Rev. 02042025 Collective Agency Support To prepare stakeholders for interviews and facilitate productivity, MCP asks VPSCC to assist with: • Coordinating project-related meetings to promote the inclusion of key stakeholders ­ A list of stakeholders to be interviewed ­ Representation of users who can articulate communications needs and requirements  Contact information for each stakeholder • Supporting scheduling of stakeholder interviews ­ Secure an appropriate venue ­ Identify a preferred virtual platform application ­ Assist with disseminating the meeting invitations provided Interviews with additional stakeholders may take place if deemed necessary by MCP and VPSCC. Deliverables: • Data-collection checklist, electronic data collection tool, and upload link • Data-gathering review call • Completion of onsite research and discovery schedule • Completion of two strategic visioning sessions (up to four hours each) Phase 3: Data Analysis and Assessment Following the completion of Phase 2, a significant amount of data regarding VPSCC’s operational and technical staffing needs will be available for analysis. MCP will assess and validate current and future staff allocation to identify any staffing needs that present challenges and opportunities to improve emergency response outcomes. MCP will review the collected data to assess current conditions and lay the foundation for developing practical, executable recommendations and strategies that can serve VPSCC into the future. Qualitative and Quantitative Analysis MCP approaches operational assessment engagements by using information garnered (through data collection, research, and observations) to detail the organization’s current state and provide the analytical portion of the study that measures findings to national standards and best practices, as well as MCP’s industry experience and knowledge: • Standard – a rule or principle set up and established by authority as a rule for the measure of quantity, weight, extent, value, or quality • Best Practice – a procedure that has been shown by research and experience to produce optimal results and that is established or proposed as a standard suitable for widespread adoption Phase 1: Project Initiation Phase 2: Discovery Process Phase 3: Analysis and Assessment Phase 4: Draft and Final Report 96 17 MissionCriticalPartners.com 690 Gray’s Woods Blvd. | Port Matilda, PA 16870 | 888.862.7911 MCP_HGAC_Total Fee-Rev. 02042025 • Industry Experience – knowledge or practical wisdom gained primarily from a minimum of ten years of combined education, work experience, and specialization in a respective industry or market segment • Regional Experience – knowledge or practical wisdom gained by leveraging experience with similar client models in the region The information acquired through MCP’s methodology ranges from hard numbers (quantitative data) to opinions and anecdotal input (qualitative data). Where data is more quantitative in nature, MCP relies on established public safety and private industry metrics to assess and evaluate an organization. Where data is qualitative in nature or metrics have not previously been established, MCP draws on our collective industry experience and awareness of best practices to create those metrics and assess the status of the organization. Throughout this engagement, MCP will endeavor to make clear where analysis and findings are based on measurable, quantitative data, and where MCP necessarily draws its findings from more inherently subjective evaluations. MCP’s years of experience have demonstrated that subjective assessments, backed by thoughtful and unbiased comparisons with public safety and private industry best practices, along with industry exposure, as referenced throughout this document, are just as meaningful and important as hard, quantitative evaluations. Both play a role in identifying where organizations stand today and where they should place their priorities and finite resources in crafting a plan to address critical areas at risk now and into the future. MCP analyzes the current operational functions, technological capabilities, organizational structure, training, quality assurance and improvement, and facility readiness. MCP also evaluates staffing patterns and scheduling associated with 911 call-taking, call processing, and dispatch. The analysis includes minimum staffing levels by time of day and day of the week, current and historical staffing levels, and workload factors such as current and projected emergency and non- emergency call processing and dispatching. ECCs, both primary and secondary, throughout the country adopt and utilize industry standards and best practices in an effort to ensure the effectiveness of the center and that optimal service is provided to citizens and field responders alike. Measurable standards create an objective view of public safety operations and provide for consistent interactions with the public and field responders. Operational standards and best practices most often used are from NENA and the Association of Public- Safety Communications Officials-International (APCO). Also, many communities rely on National Fire Protection Association (NFPA) standards (particularly NFPA 1225, Standard for Emergency Services Communications) and standards from the Commission on Accreditation for Law Enforcement Agencies (CALEA) (particularly Standards for Public Safety Communications Agencies). NENA, APCO, and NFPA are American National Standards Institute (ANSI) accredited standards-development organizations (SDOs). MCP will utilize the aforementioned standards, along with our experience and knowledge, to ensure that VPSCC is operating and functioning according to industry standards and current best practices. To verify appropriate staffing and/or determine staffing needs, ECCs use calculations based on call volume and workload. APCO and NENA, industry leaders in the emergency communications arena, have 97 18 MissionCriticalPartners.com 690 Gray’s Woods Blvd. | Port Matilda, PA 16870 | 888.862.7911 MCP_HGAC_Total Fee-Rev. 02042025 developed tools based on the Erlang C 1 calculator, coupled with statistical calculations that take into consideration other ECC data (e.g., leave usage). ECC data is measured and used as a basis for projecting the number of call-taking, dispatch, and supervisory staff required to handle call and incident volumes adequately. MCP uses a NENA staffing tool, coupled with Erlang C calculations and experience in the industry, to project and analyze staffing requirements. The staffing tool, partially based on NENA-REF-004.3-2017 (originally 54-501), is a formalized system that takes into account call volume and other ECC-specific data (such as incident volume and leave) to calculate staffing needs. Available work hours, utilization, and turnover rates are calculated and used with call and incident data to determine baseline staffing requirements. MCP then analyzes the data with the recommended configuration to project staffing. The resultant staffing projections are highly dependent upon the accuracy of the data and statistics provided by the agency being studied. Innovative Analysis MCP proposes an innovative analysis using a proprietary tool and methodology called the Model for Advancing Public Safety® (MAPS®). MAPS provides a standards-based view of your public safety communications environment to help you identify challenges, prioritize efforts, and commit finite resources. It combines public safety standards, formalized accreditation programs, and industry best practices with MCP’s expertise and experience to help you understand how your agency measures up to industry standards and best practices. We will tailor MAPS to align your requirements to the desired focus areas on governance models, workload and staffing, performance management and service levels, technology, and planning (i.e., strategic implementation). The figure below is an example of how MAPS quantifies how your environment compares with other agencies in each of the key areas. 1 The Erlang C calculator is a tool in the public safety industry utilized to assist emergency communications centers in determining call-taker staffing needs. 98 19 MissionCriticalPartners.com 690 Gray’s Woods Blvd. | Port Matilda, PA 16870 | 888.862.7911 MCP_HGAC_Total Fee-Rev. 02042025 Figure 1: MAPS Sample The MAPS assessment is anticipated to help VPSCC establish a metric to do the following: • Measure progress • Provide benchmarks against other public safety agencies • Identify short-term opportunities to focus on while building a long-term vision • Provide a tool to communicate with stakeholders and client agencies to justify priorities Specific to the VPSCC, MAPS will be used to analyze the following, as described in the subsequent sections: • Organizational Structure • Personnel • Oversight • Recruiting, Hiring, and Retention • Quality Assurance (QA)/Performance Metrics • Policies and Procedures • Call-taking and Radio Dispatching • Technology and Systems in Use • Facilities • Response Alternatives • Current Systems in Use and Emerging Technologies MCP also has a proven track record of using the “game board” approach to help leaders tackle complex issues. This simple yet powerful framework focuses on five central components of any strategy: 99 20 MissionCriticalPartners.com 690 Gray’s Woods Blvd. | Port Matilda, PA 16870 | 888.862.7911 MCP_HGAC_Total Fee-Rev. 02042025 Approach • Current State ­ Where does the VPSCC stand today? • Future State ­ Where does the VPSCC want to go, and what is it being called upon to do? • Case for Change ­ What is the compelling reason to change? ­ What will happen if the VPSCC does not change? • Barriers to Success ­ What will make change difficult? ­ What can be controlled/influenced? ­ What must be worked around? • Strategy (or Way Forward) ­ What three to five initiatives will help reach the desired future state? MCP’s review will create a baseline that gives VPSCC’s leadership and stakeholders a clear vision of the future state of the workforce, goals related to attaining that vision, and metrics on which success can be measured. Using the data collected, MCP will have a significant amount of information regarding VPSCC and your client agencies’ public safety communications environment in the identified areas of interest available for analysis. To distill this information into a report with practical and actionable recommendations and strategies for stakeholders, MCP will analyze all pertinent information and will evaluate key areas, including: Organizational Structure MCP analyzes organizational and governance structure. As a part of the analysis and recommendations for VPSCC, MCP will focus on: • Governance • Reporting relationships • Dissemination of information (internal communications system) • Promotional selection • Supervisory training • Internal communications • Effectiveness of current leadership structure with regard to chain of command, division of labor, and span of control • Regional challenges and opportunities 100 21 MissionCriticalPartners.com 690 Gray’s Woods Blvd. | Port Matilda, PA 16870 | 888.862.7911 MCP_HGAC_Total Fee-Rev. 02042025 Personnel Human resources is the most critical component of every public safety organization. MCP will document the existing organizational structure as well as the workloads of 911 call-takers and dispatchers, system administrators and technology support staff, and supervisory and administrative support staff. The analysis will be completed based on our experience, industry standards, and the impact of Next Generation 911 (NG911) and FirstNet, to evaluate whether current staffing levels, skill sets, and structure are adequate to most efficiently and effectively meet the current and future needs of the organization. Our recommendations include suggested staffing levels, business practice modifications, and additional positions to perform functions not currently being met. Succession planning and leadership development will also be addressed from a strategic view as the organization plans for future changes in technology and growth. Oversight As a component of the personnel and policies and procedures analysis, MCP documents and evaluates the current supervisory structure in place. The evaluation focuses on the effectiveness of the current structure to support the current and future mission of the organization. Alternatives to the methods of oversight will be identified based on industry best practices and our project experience. Recruiting, Hiring, and Retention Communities across the nation are finding it difficult to attract and retain qualified telecommunicators, leading to a constant on-boarding and training process that is a strain on resources and is costly. Understanding there may be limitations by policy, the report may provide justification for modification of those and other policies that may be unintentionally hindering success. These recommendations will bring industry standards to bear and will be based on MCP’s knowledge of best practices. Quality Assurance/Performance Metrics MCP reviews existing QA procedures and continuing education programs within VPSCC’s emergency services and the linkage between QA standards from a strategic viewpoint. Requirements may emerge from that input, often related to existing challenges and areas that require operational improvements. Once challenges and requirements are identified, strategies to fill those needs are developed and incorporated into the proposed enhancements. As part of the QA and performance metrics analysis, our experts will: • Review the current QA process and compare it with national standards to determine any areas of deficiencies • Look at current evaluation methodologies to affirm that required criteria can be measured 101 22 MissionCriticalPartners.com 690 Gray’s Woods Blvd. | Port Matilda, PA 16870 | 888.862.7911 MCP_HGAC_Total Fee-Rev. 02042025 Policies and Procedures MCP has extensive experience evaluating operating procedures at the state, county, and city levels, and we will apply this knowledge during the review of existing operational policies and procedures of VPSCC’s emergency services relevant to the scope of this project. From a strategic view relevant policies, procedures, and guidelines are evaluated to determine whether they are sufficient to meet the current and future needs of VPSCC’s emergency services. MCP seeks to determine whether the policies and procedures in place are adequate for both the size and the mission of the organization. Call-taking and Radio Dispatching A key component of the data collection phase will be interviews with line and supervisory staff as well as observations of the call-taking and dispatching methods used on all shifts. MCP evaluates current call processing and provides recommendations for business practice changes that will result in greater effectiveness and efficiency. The goal of VPSCC is to increase efficiency while maintaining a high level of service, which will be paramount when making recommendations. Technology and Systems in Use Technology and its related infrastructure and applications are important factors to be assessed and considered as part of an operational assessment. As such, MCP evaluates technology limitations that may be impacting both current and future operations. During data gathering, as applicable, MCP determines which systems require replacement or upgrade based on features, functionality, or lifecycle status. MCP will gather information on current projects to assess resource allocation. Consideration is given to features, functionality, scalability, capacity, training, and public safety communications best practices. This will include, as applicable: • Computer-aided dispatch (CAD) • Records management system (RMS) • Voice and data radio infrastructure • 911 answering/call-handling equipment • Voice-logging recorders • Technological connectivity of the telephone network • Connections to state and federal computer systems and applicable information databases Facilities To assess the current facility, MCP will have focused discussion with VPSCC’s ECC leadership and key staff to collect data regarding current and future ECC operations and facility considerations, including backup considerations. Response Alternatives Along with community engagement, communications, and information infrastructure, effective call triage spans technical, operational, and policy-driven approaches. An infrastructure capable of supporting various levels of change is impacted in three key areas leading to internal operational needs and external community expectations: 102 23 MissionCriticalPartners.com 690 Gray’s Woods Blvd. | Port Matilda, PA 16870 | 888.862.7911 MCP_HGAC_Total Fee-Rev. 02042025 • Calls unnecessarily entering the ECC that could be managed outside of the traditional 911 or 10-digit line workflow (N11 codes [e.g., 311, 211, 988]. Public education programs that encourage the use of community resources rather than dialing 911. Agency website dashboard/portal/scanner applications for traffic, etc.). • Calls that may or may not require dispatch but involve repetitive or standard information that does not necessarily need call-taker contact to process. Interoperable links to agencies using the same or disparate CAD systems, which endeavors to offset voice interaction (or alternative). Online reporting software for a variety of activities, including civil violations, property crimes with no suspect, or community-reported information on crime trends or patterns. Data integration/interfaces for situational awareness. • Calls entering the ECC that require dispatch but may not necessarily require a traditional police/fire or EMS response (nurse triage, behavioral health clinicians in the ECC environment, crisis hotline or the national 988 Suicide & Crisis Lifeline, co-response, community health outreach and mobile integrated healthcare, personal health education to better understand medical issues before they become emergencies, low acuity medical/assist calls, leveraging community response and/or paramedicine program, social service referrals, leveraging and mining social media applications to provide situational awareness, artificial intelligence [AI]). We will review the gathered information to help determine where infrastructure can be bolstered to support long-term change, such as identifying and reducing mission creep so operations can focus on life safety needs, automating manual workflows, and seamlessly integrating alternative responses into the ecosystem. The MCP team will review the information gathered and assess the protocols, procedures, and workflows necessary to support both traditional and alternative response needs. Current Systems in Use and Emerging Technologies Both existing and emerging technology trends and their related infrastructure and applications are important factors to be evaluated as part of an assessment such as this. Therefore, MCP will begin with a technology inventory and evaluation of mission-critical technologies and systems to assess limitations and lifecycle management practices that may be impacting both current and future operations. This will be followed by a comparison with emerging technologies to assess where operational efficiencies could be realized, or existing integrated technologies enhanced. During data gathering, as applicable, MCP determines which systems require replacement or upgrade based on features, functionality, or lifecycle status. MCP will gather information on current projects to assess resource allocation. Consideration is given to features, functionality, scalability, capacity, training, and public safety communications best practices. This will include, as applicable: • CAD • RMS • Voice and data radio infrastructure • 911 answering/call-handling equipment (legacy and NG911) • Automatic Call Distribution (ACD) • Voice-logging recorders 103 24 MissionCriticalPartners.com 690 Gray’s Woods Blvd. | Port Matilda, PA 16870 | 888.862.7911 MCP_HGAC_Total Fee-Rev. 02042025 • QA software • Protocol software • Technological connectivity of the telephone network • Connections to state and federal computer systems and applicable information databases • Automated alarm interfaces • AI and machine learning (ML) The goal of this analysis will be to identify and articulate the effects of emerging technology on the services VPSCC delivers. Regionalization Analysis Acknowledging the operational and economic challenges with operating an ECC in a popular tourist destination, it is prudent for VPSCC to look outside of its service area for regionalization opportunities or other opportunities that will help support a long-term sustainable future for the ECC and agencies served. When analyzing operational efficiencies, regionalization opportunities should be considered. Organic regionalization occurs naturally without external forces (e.g., funded or unfunded government mandate). As such, it is logical to look at emerging technologies and also to assess any potential opportunities with other regional partners to join forces. The sharing of public safety communications services is often a sensitive topic because each community typically has a sense of ownership regarding its respective organization. There are several potential negative impacts that can arise, such as personnel and financial management issues, operations and training issues, unified technology considerations, and overall delivery impacts. All of this must be balanced with the potential cost efficiencies, if any, that can be achieved. The ultimate goal must be driven by a shared commitment to providing improved service and response outcomes to the community and field responders, which. It occurs when stakeholders work collaboratively toward a common goal focused on improving emergency response outcomes. Although some use the terms “regionalization” and “consolidation interchangeably, they are not the same. Regionalized 9-1-1 communications may involve consolidation of one or more PSAPs into a single facility, but it does not have to. The visioning sessions will support this focused analysis on other opportunities within the region by leveraging advanced technologies and working collaboratively with outside partners. Analysis Summary MCP’s experience in completing similar assessments indicates that a multi-step process is most successful in creating and reviewing reports and findings and recommendations. MCP appreciates a commitment by VPSCC to provide full access to VPSCC’s team, materials, and facility(ies) to provide for assessment of the identified scope. This commitment, together with the facilitation of meetings with stakeholders, will provide us with quality data collection including interviews and observations. By leveraging MCP’s MAPS assessment tool, combined with the game board approach to focus on the areas of interest, MCP will make recommendations to improve upon work that VPSCC may already have in place and establish metrics for measuring progress moving forward. MCP’s analysis and strategic recommendations will bring industry standards to bear and will be based on MCP’s experience, knowledge of best practices, and industry knowledge. By leveraging MCP’s approach 104 25 MissionCriticalPartners.com 690 Gray’s Woods Blvd. | Port Matilda, PA 16870 | 888.862.7911 MCP_HGAC_Total Fee-Rev. 02042025 to focus on VPSCC’s key areas of interest, strategies can be developed that can lead VPSCC and your client agencies into the future and establish metrics for determining whether those strategies yield the intended outcomes. As a result of the analysis, MCP expects to have sufficient information to formulate strategies for implementation. MCP will take the results of the qualitative and quantitative analysis and develop a draft report outline and review it remotely with VPSCC to promote continued alignment of expected items and sections of the report to be covered. A remote review of the draft report also provides a discussion opportunity, while allowing the VPSCC project team to provide additional agency comments, input, and/or direction to the MCP team or clarify further the data upon which the report is based. Any remedial information collection will be scheduled/completed as the outline is reviewed and revised. MCP will take the approved outline and highlight preliminary findings and initial recommendations, which MCP will review with VPSCC. Deliverables: • Preliminary recommendations briefing via video conference platform • Review of draft report outline via video conference platform Phase 4: Draft and Final Operational Assessment Report MCP will take the approved outline from Phase 3 and draft a report, cataloging data collected and highlighting preliminary findings and initial recommendations. Findings will be presented in a draft written report. Using a stakeholder review worksheet (SRW), MCP will capture all comments and expects to provide an edited copy of the draft report for documentation and review. A remote review of the draft report provides a discussion opportunity, while allowing the team to provide additional comments, input, and/or direction to the MCP team or to further clarify the data upon which the report is based. The remote review will include a discussion of MCP’s methods, techniques, and data used to develop the report with the stakeholders. MCP anticipates that there could be up to two additional calls with VPSCC to complete the draft report review. MCP will provide an edited copy to VPSCC, which typically happens within 15 business days of receipt of all final comments. Building on the feedback and directional guidance provided by those who participate in the assessment review sessions, MCP will produce a final report that provides an overall view of VPSCC’s operations and addresses VPSCC’s unique needs. The report will outline relevant findings and will provide recommendations that establish a path of action items for the VPSCC. This is anticipated to serve as the foundation for future strategic initiatives to drive the organization’s goals forward. Phase 1: Project Initiation Phase 2: Discovery Process Phase 3: Analysis and Assessment Phase 4: Draft and Final Report 105 26 MissionCriticalPartners.com 690 Gray’s Woods Blvd. | Port Matilda, PA 16870 | 888.862.7911 MCP_HGAC_Total Fee-Rev. 02042025 Table 1: Final Report Process Item Description Draft Report • Compile and review the draft report outline • Answer questions and clarify recommendations and findings • Provide a draft report to VPSCC for feedback Final Draft • Incorporate VPSCC’s changes or clarifications into the report as applicable • Provide the final version of the report to VPSCC Presentation • Make one final in-person presentation to VPSCC • Address any final questions or clarifications • Discuss steps for adopting recommendations Barring any agreed-upon changes to the timeline that may arise during the project kickoff meeting, the draft and final report will be delivered to VPSCC within three to five months of project initiation. Deliverables: • Draft ECC Assessment Report • Final ECC Assessment Report • In-person presentation of the final report Value Add Should VPSCC choose, in addition to the electronic copy of the report, MCP will create an MP3 audio recording of the executive summary, key findings, and recommendations. We have found that this approach makes it easier for busy executives and elected officials to review and digest key elements of the report. We have also found that it lifts the written word off the page in a way that allows for highlighting elements that otherwise blend into the narrative and as such may go unnoticed. Project Expectations and Assumptions MCP’s understanding of the project expectations assisted in developing the tasking, estimating the level of effort, and creating the scope of work. As a result, MCP anticipates that the project will require the level of effort outlined below. • A step-by-step review of the SOW will be conducted prior to the virtual project initiation call. Any updates or changes from the initial SOW described in this proposal will be documented for mutual agreement and to allow for clarification of expectations to be addressed in the deliverables. If the requested changes increase the level of effort initially agreed upon and the parties agree the changes cannot be absorbed in the original pricing, MCP will provide pricing for those changes. The MCP team proposes to be on site for up to four days. All other work on this project will be remote. 106 27 MissionCriticalPartners.com 690 Gray’s Woods Blvd. | Port Matilda, PA 16870 | 888.862.7911 MCP_HGAC_Total Fee-Rev. 02042025 ­ Three days to complete the agreed-upon research and discovery schedule and two visioning sessions (four hours each or up to eight hours total) ­ One day for in-person final presentation of the final report to designated stakeholders • MCP asks VPSCC’s project team to: ­ Provide a list of stakeholders to participate ­ Identify representation of individuals that can articulate needs and requirements  Provide contact information for each stakeholder (including email address)  Assist with scheduling stakeholder interviews ­ Secure appropriate venues ­ Assist with disseminating provided meeting invitations • Bi-weekly, remote 30-minute project progress calls with MCP’s PM through the original project schedule end date. • MCP will submit an initial draft of the VPSCC Operations Assessment report in electronic format, to be delivered to VPSCC’s project team for review and approval. ­ Up to two 2-hour remote report review sessions with MCP’s PM and applicable SMEs to conduct the review. • MCP will provide an in-person presentation to key stakeholders. MCP uses a risk management matrix to identify and monitor risks that can impact scope, schedule, budget, and deliverables quality. As soon as risks to the project are identified, MCP will initiate discussions with VPSCC to ascertain whether a change order is required and develop the content if so determined. Extension of the level of effort beyond these assumptions not resulting from the actions of MCP will result in a conversation between MCP and VPSCC to evaluate the level of effort and cost to the project. Project Methodology Project Management Framework The Project Management Institute (PMI) framework has been used to develop our response to meeting your needs. 107 28 MissionCriticalPartners.com 690 Gray’s Woods Blvd. | Port Matilda, PA 16870 | 888.862.7911 MCP_HGAC_Total Fee-Rev. 02042025 Figure 2: PMI Framework The PM uses this industry standard to promote a successful outcome and alignment with the stakeholder expectations throughout the project lifecycle. The PMI framework breaks the lifecycle down into four stages: Initiating, Planning, Executing/Monitoring, and Closing. These stages are illustrated in the above graphic. Initiating and Planning Upon project initiation or kickoff, MCP will verify needs and expected outcomes to confirm scope, approach, and timing. After initiating the project and working closely with your team, MCP will develop a customized approach for your agency and stakeholders that drives the project from planning through completion. Depending on project complexity, this approach will be documented in a project work plan; a shorter, smaller plan may be developed based on the accepted scope of work. This scope/work plan will be submitted and reviewed for VPSCC’s approval prior to project execution. Subsections may include: • Risk identification and response plan • Communications plan for status and progress • Resource needs and allocation plan • Deliverable acceptance plan Executing and Monitoring MCP will execute the scope/work plan as documented and update you on progress, performance, and concerns, if any. We will conduct routine project reviews to validate plan alignment for client satisfaction and quality management. The project reviews will focus on: • Scope (including requirements and quality control) • Schedule (including planned vs. actual) • Budget (including planned vs. actual) • Deliverable and artifact reviews • Ongoing risk reduction • Ongoing issue resolution • Readiness and transition for changes These reviews and regular project updates will directly impact our continued execution, helping us mitigate potential risks and increase efficiency/performance. This approach to execution and monitoring results in an opportunity for overall greater success. Closing As the project ends, we will coordinate with your team to ensure that agreed-upon deliverables have been submitted and accepted, and that you are ready to take your next step post-project. We also will maintain contact as desired through a designated point of contact if additional services are requested or available in the future. Additionally, MCP practices two exercises as a form of self-check: 108 29 MissionCriticalPartners.com 690 Gray’s Woods Blvd. | Port Matilda, PA 16870 | 888.862.7911 MCP_HGAC_Total Fee-Rev. 02042025 Internally, we conduct a “Lessons Learned” to revisit and gauge our performance and project outcomes. This allows MCP to improve as we continuously provide services based on internal observations. Externally, we conduct client satisfaction surveys and directly invite our clients to evaluate our performance during and after the project concludes. We use this information to reflect on how our clients perceive our work and consider opportunities for improvement. Project Management Tools Depending on the project's complexity, MCP will manage and track project resources, assignments, and costs and maintain the schedule using a combination of manual and automated industry-recognized tools: Figure 3: MCP’s Project Management Tools Using these tools, the PM will be able to: • Support efficient use of staff and SME resources • Mitigate against staff being assigned more hours in each period than could be reasonably applied • Monitor and compare hours planned or needed to complete a task against the hours assigned This allows the PM to assign time and tasks in a balanced and reasonable fashion to identify pending shortfalls and rebalance staff assignments to accommodate and address the potential shortfall, if needed, and communicate changes in regular project meetings to align with your requirements and expectations. Deliverables Deltek Vantagepoint •Integrated, enterprise planning tool •Creates and resource-loads a project plan •Assists with continuity between tasks and tracks project financials Egnyte •Secure, cloud-based file-sharing platform •Allows centralized file access based on stakeholder needs Microsoft Project •PMI-based dashboard outlining all project processes •Tailored to meet the goals of individual projects Online Communications •Video and instant messaging tool •Improves communication and technology compatibility •Microsoft Teams 109 30 MissionCriticalPartners.com 690 Gray’s Woods Blvd. | Port Matilda, PA 16870 | 888.862.7911 MCP_HGAC_Total Fee-Rev. 02042025 Our PM is responsible for the quality assurance and quality control (QA/QC) process for deliverables, including scheduling, formal delivery, and follow-up to meet your expectations. Table 2: MCP’s QA/QC Process Stage Description Peer Review • Validate content (this is reviewed by select project team members and other SMEs relative to the content) • Align the deliverable with the project’s SOW • Leverage industry standards and best practices, the depth of knowledge of the reviewers, and information obtained from other similar projects Peer Review Edits • Validate the comments received via peer review • Incorporate applicable changes into the deliverable Quality Assurance • Comprehensive deliverable review is conducted by MCP staff with industry knowledge and experience, as well as specific expertise in editorial content review • The objective of QA is to validate that the deliverable is comprehensive and thorough and meets defined acceptance criteria Quality Control • Once QA edits have been reviewed by the PM and incorporated, the deliverable moves into the final stage: Quality Control (QC) • During QC, document support specialists further scrutinize the deliverable to validate that it is accurate and consistent and that it aligns with MCP and client standards Deliverables are vetted thoroughly prior to delivery. In the event a deliverable does not meet your expectations, MCP will meet with you to review any identified deficiencies, then document and, more importantly, correct them to your satisfaction, to the extent they do not contradict or violate established rules, regulations, statutes, standards, or a combination thereof. 110 31 MissionCriticalPartners.com 690 Gray’s Woods Blvd. | Port Matilda, PA 16870 | 888.862.7911 MCP_HGAC_Total Fee-Rev. 02042025 SCHEDULE B—HOURLY RATES MISSION CRITICAL PARTNERS, LLC H-GAC All Hazards Preparedness, Planning, Consulting & Recovery Services Contract No. HP08-21 Title Labor Rate Per Hour Support Specialist I $63.00 Support Specialist II $105.00 Operations Specialist I $204.00 Operations Specialist II $218.00 Planner $178.00 Communications Specialist $160.00 Technology Specialist I $191.00 Technology Specialist II $204.00 Project Manager $198.00 Senior Technology Specialist $218.00 Senior Project Manager $224.00 Program Manager $237.00 Forensics Analyst $244.00 Senior Program Manager $264.00 Principal $224.00 111 AGENDA ITEM NO. 4.9 Item Cover Page DATE:April 15, 2025 SUBMITTED BY:Tom Kassmel, Public Works ITEM TYPE:Consent Agenda AGENDA SECTION:Consent Agenda (6:10pm) SUBJECT:Change Order with R&H Mechanical for Vail Village Snowmelt Repair SUGGESTED ACTION:Authorize the Town Manager to enter into a change order, in a form approved by the Town Attorney, with R&H Mechanical for continued snowmelt manifold replacements in the Vail Village, in an amount not to exceed $140,000.00. VAIL TOWN COUNCIL AGENDA ITEM REPORT ATTACHMENTS: Council Memo - Vail Village Snowmelt Manifolds 112 To:Town Council From:Public Works Department Date:April 15, 2025 Subject:Vail Village Snowmelt Manifold Replacement Change Order Approval I.SUMMARY Last year the Town of Vail publicly bid out snowmelt repairs for a portion of the Vail Village snowmelt system. The work included the replacement of isolation valves and the replacement of existing manifolds along portions of Bridge Street and Gore Creek Drive. Additional budgeted funds were allocated this year for continued snowmelt repair focusing on the replacement of E. Meadow Drive snowmelt manifolds. In order to complete this work staff recommends approving a change order to the existing contract with R&H Mechanical in an amount not to exceed $140,000. This work is within the existing Vail Village Snowmelt repair budget and will expend a small portion of the $900,000 total budget. II.RECOMMENDATION Direct the Town Manager to enter into a change order, as approved by the Town Attorney, with R&H Mechanical in an amount Not to Exceed $140,000. 113 AGENDA ITEM NO. 5.1 Item Cover Page DATE:April 15, 2025 TIME:5 min. SUBMITTED BY:Jeremy Gross, Economic Development ITEM TYPE:Presentation/Discussion AGENDA SECTION:Presentation/Discussion (6:10pm) SUBJECT:DiscoverVail End of Season Event Update (6:10pm) SUGGESTED ACTION:Listen to presentation. PRESENTER(S):Jeremy Gross, Special Event Manager VAIL TOWN COUNCIL AGENDA ITEM REPORT ATTACHMENTS: 114 AGENDA ITEM NO. 6.1 Item Cover Page DATE:April 15, 2025 TIME:45 min. SUBMITTED BY:Kristen Bertuglia, Environmental Sustainability ITEM TYPE:Presentation/Discussion AGENDA SECTION:Action Items (6:15pm) SUBJECT:Solid Waste Single Hauler Discussion (6:15pm) SUGGESTED ACTION:Listen to presentation and provide feedback. PRESENTER(S):Russ Forrest, Town Manager and Chief Ryan Kenney, Vail Police Department VAIL TOWN COUNCIL AGENDA ITEM REPORT ATTACHMENTS: Council Memo - Residential Single Hauler Municipalization Public Notice Public Comment - Single Hauler 115 To:Vail Town Council From:Vail Police and Environmental Sustainability Departments Date:April 15, 2025 Subject:Single Hauler for Vail’s Solid Waste and Recycling I.Purpose This purpose of this session is to receive Council direction on potential next steps regarding a single waste hauler system for residential properties in the Town of Vail. II.Municipalization of Solid Waste and Recycling Current Solid Waste System Currently, there is an open market system for waste hauling in the Town of Vail, which means that any waste hauler with a business license may collect trash, recycling, and compost, subject to requirements in Title 5 of the Town Code (recycling ordinance). Each hauler is required to register with the town every three years, report data at least bi-annually for all municipal solid waste collected and recycled and otherwise adhere to the prohibitions of depositing recyclables in the landfill. As of 2025, there are three registered haulers operating within the town: Vail Valley Waste, Vail Honeywagon, and Apex Waste Solutions. In the current environment, trash and recycling trucks from these three different companies are on the streets of Vail six-seven days a week servicing residential, multi-family, and commercial entities, resulting in upwards of 10 trucks on any given day in the commercial cores and residential areas. The existing community-wide recycling ordinance established the following in 2014: 1.Recycling rates must be embedded with trash hauling rates 2.Residential volume-based pricing (Pay as You Throw) 3.Prohibition on recyclable materials discarded as trash 4.Waste hauler registration and data reporting 5.On-site recycling requirement 6.Equal service rate requirement (residential recycling collected as frequent as trash) Municipalization of Solid Waste Colorado State legislation C.R.S. 30-15-401 allows communities to “municipalize”, or assume responsibility for trash service in their communities, or enable a single hauler system via 116 Town of Vail Page 2 contract for waste services for residential properties with seven or less units. Through this process the town may either 1) develop its own trash company and provide services (like Gypsum does today), or, 2) select and contract a single hauler through a Request for Proposals (RFP) procurement process to provide curbside trash, recycling, and compost services. This model is in place in many communities including Eagle, Minturn, Carbondale, Fruita, Glenwood Springs, Snowmass Village, Rifle, New Castle, Telluride, Louisville, Gunnison, Superior, Manitou Springs, Golden, Arvada, Fort Collins, and almost all larger cities across the nation. Town Council Goals A significant goal for considering municipalization of solid waste is to reduce the cost of residential waste service and to reduce the number of trash truck (currently three different waste haulers will go in and out of neighborhoods) that access our residential neighborhoods. Moving to an organized single hauler system is an effective tool to help communities achieve several goals including reduced cost, improve public safety, and has been adopted by the Vail Town Council in the 2024 Strategic Plan and the Climate Action Plan, respectively, below: TC Strategic Plan The Town of Vail municipal government will provide excellent customer service through clear definitions, measurements, and reporting. Reduce 2014 baseline carbon emissions by 25% by 2025, 50% by 2030, and 80% by 2050. Climate Action Plan Meet and exceed the current Eagle County landfill waste diversion goal of 30% diversion rate by 2030 and set an inspiring and achievable waste diversion target that is above the national average. Divert 80% of organics from the landfill by 2030. In addition to partnering with a single waste hauler for residential service, a single hauler process also may allow for a coordinated, preferred pricing system in Vail’s commercial core in the future for those residential properties more than 7 units and businesses, leading to reduced traffic in the villages, noise, air pollution, and increasing public safety in the pedestrian ways. III.Single Hauler Request for Proposals In late 2024, the Vail Town Council directed staff to informally post a single hauler RFP to solicit responses for their review, in order to inform the decision to move forward with municipalization. The RFP, to which responses were received in December, included the following overarching objectives: 1. Achieve Cost Efficiencies for the Community 2. Increase Public Health and Safety 3. Achieve Environmental Goals 4. Improve Guest and Resident Experience The Scope of Services presented in the RFP included the following: 1. Solid Waste (Trash & Recycling) Collection 2. Container/Cart/Dumpster Management (wildlife protection, compliant carts) 117 Town of Vail Page 3 3. Rate Specifications (e.g. haulers must comply with Vail Town Code and offer 3 levels of service based on the volume of trash – 32, 64, 96 gal. carts, “Pay-As-You-Throw”) 4. Reporting and Auditing (volumes, diversion rates, customer management) 5. Mandatory Recycling (by material, as required by Vail Town Code) 6. Communication and Education with Customers 7. Compost and Yard Waste Collection (haulers must provide a plan to be able to offer curbside compost by the end of year 2). 8. Billing and Customer Service (provided by the hauler) 9. Truck Maintenance 10. Safety, Licensure of CDL Drivers Results of the Initial RFP Process The town received three proposals from waste haulers to provide trash, recycling, and composting services in town for residential units 7 and less. Each hauler provided a competitive and comprehensive proposal with a range of services including a high level of customer service, options for curbside composting, advanced truck technology, partnerships in community events and more. Notably, the price range offered by the haulers in their proposals would result in savings for residents on their monthly waste hauling service price between 67% and 77% over the rate for their current service today. And, in the case of at least one hauler, additional services such as curbside compost are an included service. This is possible because like any utility, if the hauler can be efficient at collecting at all households in a town and have a predictable service level, economies of scale and volume allow for a lower price than in a competitive market as Vail currently has. IV.All Household Participation One of the key elements of a single hauler program in achieving the goals of the town, cost efficiencies for the community in particular, is a uniform, town-wide and predictable market base for the waste hauler. Currently, Vail is one of the few communities that does not require that all property owners subscribe to trash/recycling service. This leads to higher prices and illegal dumping and contamination in parks and at the recycling center. Because trash collection is essentially a utility, by requiring all customers to participate in service at the lowest level, haulers are able to provide a lower price due to predictable revenues and routes, and better accommodate the recycling laws in place. V.Staff Recommendation and Next Steps Now that the Council has additional information about the opportunity to create efficiencies, cost to the community, and improved safety and service offerings, Should the town move forward with the public notice of intent to municipalize and contract for solid waste collection services? Should the Town Council decide to continue forward in the single hauler process, the town is legally required to officially post a public notice and adhere to specific procedures, pursuant to Colorado Revised Statutes (C.R.S.) § 30-15-401(7.5). Staff recommends the Council direct staff to proceed with the official public notice and undertake the following next steps. 118 Town of Vail Page 4 1. Notification to Current Service Providers: written notice to all private entities currently offering waste services within the town including commencement date and the areas affected. This notice must be issued at least six months prior to the program’s initiation. 2. Public Notification:Concurrently, a public notice must be published in a newspaper of general circulation within the town, outlining the same information provided to private service providers. Town Council may facilitate public engagement and input sessions to solicit public input on the intent to municipalize trash service. This is highly recommended. 3. Request for Proposals (RFP) Process:While the town has accepted proposals to date, the RFP will remain open in the case that an additional hauler decides to submit or revise in the 6-month period. 4. Municipalization Ordinance:To formalize the transition, the town must adopt an ordinance “municipalizing” service, declaring the use of a contract hauler for residential service at a public hearing, for residential units 7 and less. The ordinance could be adopted with an effective date following the 6-month required posting period. 5. Universal Service Ordinance:In order to retain the best possible price, adopt an ordinance that requires all property owners to subscribe to trash service at least at the minimum service level. Note that this step is not required by law, but the Town Council has directed staff to implement. A public hearing will be held. 119 From:Dennis Scalise To:Council Dist List Subject:Trash pick up / Short term rentals. Date:Thursday, April 3, 2025 8:22:04 AM To: All town council members, It appears to me T.O.V. town council continues on a quest to "social engineer" our/my town. I have noticed a push for picking winners and losers by the T.O.V. town council. Government should not have the authority to decide who wins and who loses. That should be left up to the free marketplace. Regarding short-term rentals: The push for taxation on some businesses and not others is disturbing. I don't understand why the short-term rentals businesses should be taxed more. ($500.00 per bedroom, per year ) This is just another expense that will be passed on to our visiting guest. Furthermore, lodging tax (aka bed tax) is already in place. The short-term business model created a better, more affordable alternative to what traditional lodging hotel and motel models offers. In layman's terms, a better mousetrap was created. Free enterprise and competition in the marketplace is the U.S.A. way and is the main reason the U.S.A. has been on the top of the economic world. The unfair increase in tax will cause an unfair increase in cost to the short-term guest. This creates an unfair advantage for the legacy hotel/motel business owners. If this tax is approved, please explain a benefit the town will provide to the short-term rental business community. I don't see any benefit proposed. This appears to be taxation without representation... These kind of unfair policies the T.O.V. government may approve will eliminate a constitutional right to free market and free enterprise. As for trash removal: My trash company has been loyal to me for 35 years. They have done a amazing job and I have no desire to see them shoved aside. Please let the free market, and free enterprise system work as our founding fathers intended. If such matters are so important to the TOV community, the proposed policies should be put on a ballot that will allow for the T.O.V. citizens to make the call. I can accept the will of the whole community much easier than desires of a few left leaning bureaucrats. Thanks for taking time to read my thoughts. P.S. Please stop thoughts of overstepping laws and boundaries that the T.O.V. community elected you to uphold. Most importantly, follow the constitutional rights of your citizens!!! 120 From:Sharon Gina To:PublicInputTownCouncil; Susanne Johnson; sharoninvail@gmail.com Subject:Concern Over Trash Collection Contract Decision Date:Thursday, April 3, 2025 10:32:43 AM TO: Town of Vail Officials: I am writing to express my deep concern regarding the recent decision to award the town’s trash collection to a large, MULTI-BILLION-DOLLAR corporation, thereby displacing Vail Valley Waste, a longstanding, locally owned business that has served our community faithfully for years. These people have raised their children here and are active members of our community. This decision does not just affect one business—it impacts our entire community. Vail Valley Waste is more than a service provider: it is a part of our town’s economic and social fabric. By taking away 25% of their business, you are jeopardizing local jobs, reducing competition and sending a message that corporate interests outweigh the well-being of our small businesses. Local businesses invest in our town in ways that large corporations simply do not! They hire local employees, support community events, and contribute to the unique character of Vail. When we outsource essential services to massive corporations, we risk losing not only personalized service but also the economic benefits that come with keeping business local. I urge the council to reconsider this decision or , at the very least, provide transparence on why this change was made. What factors were considered in choosing the larger company over our local provider. Were the cost savings prioritized over community impact? I am a 75 year old woman and Vail Valley Waste has helped me through multiple surgeries and illnesses when I couldn’t manage getting my trash containers down my steep and icy driveway. This is not the kind of service and caring that should be ignored! I, along with many concerned residents, hope that the council will reconsider its approach and prioritize what is best for our town in the long run—not just what appears more convenient or cost effective on paper. Sharon Boccanfuso 2299 Chamonix Lane Vail 121 From:Mary Lou and Bob Armour To:PublicInputTownCouncil Subject:Waste Hauling proposal Date:Thursday, April 3, 2025 3:20:06 PM Vail Town Council I sincerely request that you do NOT move forward with contract waste hauling in the Town of Vail. I truly believe in free enterprise when it comes to the business decisions that affect my hard earned dollars. I don’t believe government at any level should be telling me how to shop, like telling me who to hire to cut my lawn, or shovel my snow. Or maybe you want to tell me where to purchase my next running shoes, ski gear or groceries. Government overreach. I prefer to make my own decisions on who to hire to purchase the goods and services needed to run my household. I also do not like the idea of our dollars going out of town, to a large multi-billion dollar conglomerate, with corporate headquarters in Texas. They have no vested interest in our community or its citizens. You are creating a monopoly for Waste Connections Corp, and giving them free reign on future price increases, with no protection of the citizens you are supposed to be representing. Thanks for your consideration, Mary Lou Armour 122 From:Dan Muller To:PublicInputTownCouncil Subject:Trash Vendor Consolidation Concerns Date:Thursday, April 3, 2025 5:23:53 PM Dan Muller 1403 Moraine Drive Vail, CO 81657 dmuller@ranelson.com 9703314874 April 3, 2025 Vail Town Council 75 S Frontage Rd W Vail, CO 81657 Dear Members of the Vail Town Council, I am writing to you not only as a resident of Vail, but also in my professional capacity as the Director of a high-end property management company that currently serves 52 clients within the Town of Vail. Our company plays an essential role in the ongoing maintenance, inspection, and management of luxury properties throughout the community. A critical component of our operations is aligning property inspection days with the current trash pick-up schedule, which is distributed across the week depending on location. This system allows us to manage inspections and respond promptly to any issues efficiently and effectively. I understand the Town is considering the transition to a single trash collection vendor. While I appreciate the desire for operational efficiency and environmental considerations, I would like to express my concern that such a change could significantly disrupt our inspection schedule. If all trash pick-ups were condensed to fewer days or managed by a single provider, it would greatly limit our ability to conduct property inspections in a timely and organized manner. The resulting inefficiencies would ultimately impact on the level of service we provide to our clients and, by extension, the overall care and upkeep of properties throughout Vail. I respectfully urge the Council to consider the implications this change may have for local service providers like ours and the broader property-owning community. Maintaining flexibility in trash collection schedules is not just a matter of convenience, it directly supports the high standards that define our town. Thank you for your time and thoughtful consideration. 123 Sincerely, Vail Resident Dan Muller RA Nelson LLC | PHQ Director 970.331.4874 (C) | 970.949.5152 (O) 51 Eagle Road #2 | P.O. Drawer 5400 | Avon, CO 81620 www.ranelson.com Please consider your responsibility to the environment before printing this e-mail. This e-mail, including any attachments, is intended solely for the person(s) to whom it is addressed and may contain confidential information protected by law. If you have received this e- mail in error, please notify us immediately by reply e-mail and then delete this message from your system and destroy all copies. Disclosing, copying, distributing information included in this message, or taking action based on this message by anyone other than the intended recipient(s) is strictly prohibited. We appreciate your cooperation. Unless stated to the contrary, any opinions or comments are personal to the writer and do not represent the official view of the company 124 From:John Kirschner To:PublicInputTownCouncil Subject:Trash Collection Date:Saturday, April 5, 2025 12:01:13 AM Hello, TOV Council - I would like to keep using Vail Valley Waste for my trash collection. They are a local company & I like using their services. I object to having to be forced to use another company. respectfully, John John Kirschner 1995 Chamonix Lane Vail, CO 81657 jkvail@comcast.net H/O: 970-476-0550 C: 970-390-6192 125 From:Christie Hochtl To:PublicInputTownCouncil Subject:Single Waste Hauler proposal Date:Sunday, April 6, 2025 6:55:28 AM Good Morning Town Council Members, Why is the Town of Vail Considering a single waste hauler for all residences fewer than 7 units? We are very happy with Vail Valley Waste and also the ability to choose our trash company. We like supporting a small business, run by longtime valley locals. Thank you, Christie and Karl Hochtl 890 Red Sandstone Circle Vail CO 81657 cjbhochtl@gmail.com 970 476 1125 970 376 1893 126 From:piastreeter@comcast.net To:PublicInputTownCouncil Subject:proposal for single waste hauler Date:Monday, April 7, 2025 10:20:14 AM Dear Town council members, I have lived in the same duplex in Vail for 38 years. Little by little and over time the Tov has imposed new rules and regulations compromising many of our freedoms and the ability to make our own choices. Recently it was brought to my attention that the TOV issued a request for a single waste hauler to contract for residences with fewer than seven units. The process of changing the municipal code is currently in progress and the TOV is negotiating with Honey Wagon. We should have the right to be able to make our own decision on this matter ,and not be forced to use one waste hauler. Having a single waste hauler discourages fairness and competition. Many of us switched from Honey Wagon too VVW because they are less expensive, provide better service and are a smaller company Hopefully we will be able to continue to make our own choice . We look to our council members to listen to our concern……and let us do what its our own best Interest. Respectfully Pia Streeter 127 From:Keri Cauthorn To:PublicInputTownCouncil Subject:Vail Valley Waste Date:Monday, April 7, 2025 5:35:29 PM Dear Town Council Members, We started with Vail Honey Wagon after we bought our house in 2018. Once Honey Wagon got bought out, prices increased considerably.. We moved over to Vail Valley Waste for the last two years and have been extremely pleased. We believe in fair pricing and fantastic customer service (I can call with any concerns at any time and they alway answer or immediately get back with me. It is very important to us that we want to support small business. We also feel like no one should have a monopoly on any municipal services. As Vail residents, we should have the right to choose for ourselves. As community leaders, how can you take that option away from us. Please reconsider your potential decision, there is enough business for both companies. Sincerely, Keri and Guy Cauthorn 2945 Manns Ranch Rd 128 From:Jason M. Buszta To:PublicInputTownCouncil Subject:Concerns Regarding Proposed Single Hauler for Waste Services Date:Tuesday, April 8, 2025 10:49:31 AM It is our understanding that you are considering moving to a Single Hauler system for trash collection at single-family homes. We want to express our concern that this change would create significant issues, particularly for Short Term Rentals and seasonal homeowners. Currently, we work with a hauler who provides critical services tailored to our needs, including: Guaranteed waste pickup on the day of guest departure Entry and exit service—ensuring the garage door is opened and closed securely Flexible, à la carte pickups, which help avoid unnecessary fuel use when the home is unoccupied Based on our experience in other markets, switching to a Single Hauler typically results in: Poor customer service Decline in service quality Lack of accountability or incentive to improve once the contract is awarded Little to no flexibility for unique service needs like Short Term Rentals, which may require multiple pickups per week A Single Hauler model would also force us to pay our cleaners to dispose of trash themselves —an unsanitary and unsafe option. Most importantly, this decision would put several local haulers out of business in favor of a large national company, which is not in the best interest of our community. We’d appreciate the opportunity to discuss this further and provide additional insight. Please let us know a good time to connect. Jason Buszta jb@alpineoutposts.com Alpine Outposts LLC Managing Broker / Owner / Agent www.alpineoutposts.com Office: 970-409-4414 Cell: 720-483-7172 129 From:Mary Hathorn To:PublicInputTownCouncil Subject:Re: Trash Hauling Date:Tuesday, April 8, 2025 5:07:55 PM Thank you to the several council members that responded to my initial comments. I want to make one further argument against the town entering the fray of trash hauling and that is: I want the system to stay the same. I think the town council should be supporting local businesses over an out of town conglomerate even though, for the moment, they say they can accomplish all your goals at a better rate. You know as well as I do that upon the next review of the contract awarded the larger, out of town business, after the local business has failed to survive and there is no competition, that the original contractor raises the rates. This happens all the time. I do not want the town council on behalf of the town to get into this mess; leave this function to private enterprise; allow your citizens to choose for themselves and let the free enterprise system work....in the end it works better than the government ever has. I appreciate your arguments and what you are trying to accomplish, I just don't agree with you that it is worth doing. Thank you for your consideration of my thoughts, Mary "Scooter" Hathorn 655 Forest Rd, Vail On Fri, Mar 28, 2025 at 4:19PM Mary Hathorn <scooter.hathorn@gmail.com> wrote: I am concerned that you are considering taking away my choice, and the opportunity to make my own choice, as to who I want hauling my trash. The Town of Vail does not need to be in the trash hauling business. We had the Honeywagon for decades but thank goodness the free enterprise system that is the American way, allowed competition which was sorely needed. We left Honeywagon and went with Vail Valley Waste and could not be more pleased with their services and pricing. DO NOT take away my ability to make that choice. Absolutely not fair to us or to Vail Valley Waste. The Town has enough things on their plate without adding trash hauling to their job description. Each property owner can assume that responsibility; government has not been in charge of that for 60 years (the length of time my family has owned this property) and it does not need to start now. There’s enough services out there that provide the options suitable to each property owner and we do not need the town to make that choice for us. I strongly oppose the current proposal to change the municipal code and encourage you to maintain the current open market for trash service in Vail. Sincerely, Mary “Scooter” Hathorn 655 Forest Rd Vail, CO 81657 130 From:Beth Kuntz To:Council Dist List Subject:Municipalizing trash pick up Date:Thursday, April 10, 2025 8:47:13 AM Good morning. I own property in East Vail at Bighorn Terrace and I think it’s a mistake to create a monopoly on trash pickup. We ‘re very happy with our current services and having more than one hauler keeps prices competitive. Sent from my iPhone “It has come to our attention that the Town of Vail will begin the process of changing the municipal code to allow for a single waste hauler to contract for all residences with fewer than seven units. Our concern is the Town of Vail is creating a one seller economy (also known as a monopoly) and the implications reach far beyond garbage collection. We are strongly opposed to this action.” 131 From:Joe Balee To:PublicInputTownCouncil Subject:Waste management contract Date:Thursday, April 10, 2025 8:54:58 AM We have enjoyed the competition between carriers. It not only keeps the price competitive but also the customer service and quality of service at a premium. We have lived in communities with single carriers and it is high prices with low quality. I am currently in negotiations with a home seller in vail but will be putting this purchase on HOLD to see what vail does with this. Yes it is crazy to put a house purchase on hold due to waste management contracts but it shows where the town is heading and what the council will do in the future. Fyi the purchase is for a resident home for residents that are living and working here in the city! Keep pushing us out!!!! Thanks Joe 132 From:wyn smith To:PublicInputTownCouncil Subject:Single Hauler Proposal Date:Thursday, April 10, 2025 9:23:12 AM Dear Town Council Representatives, I understand the single hauler proposal is set for discussion next Tuesday evening and I am unable to attend in person due to a prior commitment. However, I appreciate the opportunity to provide my input to the council via this email. I have owned a single family home in East Vail for the past three years and appreciated the opportunity to choose my service provider at that time. I appreciated the open market concept which serves to keep prices in check through competition. I chose “local” by selecting Vail Valley Waste and appreciate the personal interaction with them concerning my waste hauling needs. For this reason I DO NOT support the selection of a single hauler and the loss of an open market concept for our collective trash and recycling needs. Thanks for your time and consideration. Wyn Wyndham Smith, Jr. 5187 Gore Circle 133 From:Kelly"s Yahoo To:PublicInputTownCouncil Subject:April 15th Town Council Meeting Date:Thursday, April 10, 2025 8:38:45 AM As a part time resident of the valley and a long time customer of Vail Valley Waste I do NOT support municipalization and I DO support CHOICE and an Open Market in Vail. Please do NOT get rid of VVW!!! They are an incredible business who cares deeply about each and every customer. Kelly 134 From:Erik Sale To:PublicInputTownCouncil Subject:Single Hauler discussion Date:Thursday, April 10, 2025 10:56:13 AM To who it may concern, I have been a homeowner in West Vail for over 20 years. There are things that Vail does well and there are things that of course need improvement. Allowing for a free market and competition in our town is crucial to keeping needed services for the community driven by the community. If one company is offering a better more cost effective solution it is imperative that a community member be allowed that freedom of choice. I personally experienced the local trash company being sold by the Donovan’s to Honeywagon. There were some improvements initially that come with scale and a more established company. However as soon as new market initiatives wore off it seemed, I watched as my level of service declined, my rates started going up significantly and regularly and my options of service overall were diminished. When Vail Valley Waste started up as a local trash company once again, I noticed Honeywagon’s customer service improved. They were much more likely to help with damaged cans or managing bear situations etc. Their pricing became negotiable when asked as they were interested in keeping a customer. I did eventually switch to Vail Valley Waste as they were better serving and better priced without having to negotiate. Additionally I am in favor of supporting locally owned businesses. It is my opinion that contracting with just one carrier whether the old or the new, is not in the best interest of the people, pricing or creating precedent for other services. Regards, Erik Sale 970.376.1111 135 From:Bryan Ronck To:Council Dist List Cc:Cathy Ronck; susanne@vailvalleywaste.com Subject:Municipal Code Garbage Collection Change Date:Thursday, April 10, 2025 11:17:16 AM I am emailing in regard to an agenda item at the upcoming April 15 town council meeting that will address the existing municipal code for Vail garbage collection. The current free market system for waste collection is working perfectly for individual Vail homeowners as we have the ability to contract with a hauler of our choice. Not just based on price and service, but flexibility of special needs such as periodic, temporary trash suspension and special pickups, when warranted. Homeowners, including me, have already determined their trash hauler of choice among the candidates you would likely review to provide contract services so I don’t see the need to bring this service under the umbrella of Vail township services. Leave the municipal code and waste collection services as is, so residents can continue to make an individual choice. Best regards, Bryan Ronck 4301 Glen Falls Lane Sent from my iPhone 136 From:Kristi McLaughlin To:PublicInputTownCouncil Subject:Upcoming hearing for municipal code change for waste haulers Date:Thursday, April 10, 2025 3:09:16 PM To whom it may concern. Our family will be unable to attend the hearing to change the municipal code for single waste haulers. We DO NOT support municipalization and DO support choice and an open market in Vail. Vail Valley Waste has been servicing our home for over 10 years. The service received from them is outstanding. Their concierge service helps our family out when we are not there every weekend. They come in our garage and take our garbage cans out and put them back in the garage. They know us personally and we trust them like family. They are always available to take our calls and help us with our needs. If they did not offer the concierge service, we would have to hire a property manager. This would severely impact our family finances. There are reasons residents select companies to do business with, and to take that choice away from residents would be upsetting to say the least. Since when has Vail become a monopoly? As a homeowner, we should be allowed to select what services we would like to service our home. All residents are not the same. This change will hurt home owners and small businesses. Small businesses is what makes the Town of Vail so special. Thank you for taking time to read my letter and for your consideration. Kristi McLaughlin 596 Forest Rd 137 From:feistmann@earthlink.net To:Council Dist List Subject:Garbage plan Date:Thursday, April 10, 2025 3:24:54 PM Greetings to all of you, A couple of thoughts about this: 1) If you can't contract for the entire town, it seems like much ado for very little, with the possibility of unintended unfortunate consequences, such as... 2) I see from the RFP that there will be a CPI maximum price increase, but suppose the contractor decides to walk from that deal. Now we're left without a contractor and the record of the town having possibly forced the only local company to close for prospective new contractors to consider. I say leave it be. And whatever you decide, as always, my thanks for what you do for our community. Pete Peter Feistmann PO Box 2438 Vail, CO 81658 feistmann@earthlink.net 138 From:D A Duke To:PublicInputTownCouncil Cc:Lindsey Watson; Cavan Havlik Subject:Vail Valley Waste Management Date:Thursday, April 10, 2025 3:46:11 PM Dear members of the Vail Town Council, Our family owns a home in East Vail, and we’ve been a customer of Vail Valley Waste for more than a decade. We moved from Honeywagon to Vail Valley Waste to achieve much better customer service, and we’re extremely pleased with our choice. We recently learned of your plan to vote for a change in the municipal code and negotiate with a single trash hauler (possibly not Vail Valley Waste), which would directly affect our quality of service. Vail Valley Waste offers terrific customer service. They don’t act like a large corporation. They’re friendly, competent and respectful. Whenever I talk to Vail Valley Waste, it feels like I’m talking to one of my neighbors. They’re simply one of us — local residents. And they’ve exceeded our expectations many years in a row. With wildlife around us, prompt and competent waste management is very important. We urge you to allow residents the right to select the waste management company of their choice. Small businesses make our mountain community what it is, and we hope you will accommodate the wishes of Vail Valley residents. Thank you. Sincerely, Dave Duke 4166 Columbine Drive East Vail, Colorado 139 From:Siri Roman To:PublicInputTownCouncil Subject:Single waste hauler input Date:Thursday, April 10, 2025 4:43:40 PM Dear Town Council Members, I urge you not to change the municipal code to allow for a single waste hauler. Our family has used Vail Valley Waste for years and values their consistent, high-quality service and local ownership. When we’re on vacation or forget to take out the bins, their staff takes care of it—service that goes above and beyond. While cost was initially a factor in switching, supporting a locally owned business and maintaining choice are far more important to us. Please preserve our ability to choose the waste hauler that best meets our needs. Thank you for your consideration. Siri & John Roman 140 From:Kathryn Stoffers To:PublicInputTownCouncil Subject:Singlehauler/Municipalization Date:Thursday, April 10, 2025 5:36:16 PM Dear Town Council, As I am unable to attend the town council meeting scheduled for April 15, I wanted to clearly voice my opposition to the Singlehauler/Municipalization concept for Vail residences. My experience has been that since an alternative company became an option (Vail Valley Waste), both the value and quality of service have increased. Residents should at the very least be allowed the option of choosing their provider and as we all know, when competition doesn’t exist, the quality and value received declines. The town of Vail has many issues that need addressing and this is not where the council needs to be spending its time. Municipalization of this service will be a negative with trickle down consequences. I urge you to strongly consider this issue. Thank you, Kathryn Stoffers Sent from my iPad 141 From:kerry kuntz To:PublicInputTownCouncil Subject:Trash pickup and free choice Date:Friday, April 11, 2025 10:34:02 AM Attention: town council I’m writing to say I want free choice in my waste bin pickup. I want the competition that helps keep the price down rather than a single provider picked by the town council or there representatives. I switched several years ago to my current provider because of the cost and customer service that now receive. I want an open market system for waste disposal in Vail. Kerry Kuntz-home owner 2402 #4 Columbine way Vail, CO 142 From:rolvail@aol.com To:Council Dist List Subject:Single Hauler Waste Date:Sunday, April 13, 2025 2:24:02 AM Dear Vail Town Council: Since I’m out of the country and am unable to attend Tuesday's discussion I would like to reiterate my concerns about this noncompetitive proposal. First of all, we switched away from Vail Honeywagon after 35 years due to their poor customer service and high pricing. Vail Valley Waste has been exceptional in both regards! Plus, for residents like us with a small amount of trash they offer biweekly pickup at a reduced price. VHW dropped this after they were sold. We strongly urge the town not to go to a no compete monopoly as things will only get worse. Respectfully, Rol Hamelin Ingie Franberg 5167 Gore Cir. E Vail 143 From:Susanne Johnson To:Siri Roman Cc:PublicInputTownCouncil Subject:Re: Single waste hauler input Date:Sunday, April 13, 2025 3:51:43 PM Attachments:PastedGraphic-1.tiff Siri and John, I cannot begin to thank you for your thoughtful message to Town Council about the municipalization of waste/recycle in Vail. We are heartbroken to think that we may lose our access to our Vail customers having worked so heard to earn and retain each customer. It looks like there will be a discussion at Tuesday’s Town Council at 6:15 pm. I believe that Russell Forest and the Chief will be presenting the benefits to municipalization. If you had time to attend, we would be deeply grateful for your support. (although having raised three athletic kiddos in our valley, it is likely that you have lacrosse that evening!) Thank you again for your support and for taking time to reach out to to Town Council on behalf of Vail Valley Waste. With gratitude, Susanne Susanne Johnson susanne@vailvalleywaste.com On Apr 10, 2025, at 4:43 PM, Siri Roman <siri_nelson@hotmail.com> wrote: Dear Town Council Members, I urge you not to change the municipal code to allow for a single waste hauler. Our family has used Vail Valley Waste for years and values their consistent, high-quality service and local ownership. When we’re on vacation or forget to take out the bins, their staff takes care of it—service that goes above and beyond. While cost was initially a factor in switching, supporting a locally owned business and maintaining choice are far more important to us. Please preserve our ability to choose the waste hauler that best meets our needs. Thank you for your consideration. 144 Siri & John Roman 145 From:pamelas To:PublicInputTownCouncil Cc:Kristen Bertuglia; Ryan Kenney Subject:Single Hauler Waste Removal Date:Sunday, April 13, 2025 4:59:25 PM Dear Mayor Coggin and Vail Town Council, Regarding single-hauler waste removal, it seems that until recently this proposal was flying a bit under the radar. I hope Council will pause a decision on this issue for a time and look more deeply into the proposed change. A few facts from a customer perspective: our HOA used Honeywagon for many years. When ownership changed from a local to an out-of-town owner, service and response diminished severely. After working with the new, out-of-town-owned company for several months and being repeatedly disappointed with the levels of service, billing, and response, our HOA switched to the locally owned and operated trash hauler. We have been very satisfied with the service provided by Vail Valley Waste. Questions are: -Will a single hauler actually reduce emissions and increase safety? Could it be that the volume of waste requires multiple trucks to haul it away, regardless of using a single, or multiple haulers? -Is a single hauler likely to give a great bid in the RFP and then push prices up after the competition has been eliminated? -How would the TOV be able to oversee response and levels of service if there is no threat from competitors? -Has the TOV engaged in negotiations with local haulers to the fullest degree? In my opinion, the TOV should strive to work with local, small businesses whenever possible. I’m of the understanding that although the Memo to Council indicates that the RFP process remains open, Town Staff are in serious negotiations with a non-local company, which implies that a decision is close, or has already been made. I will be in Denver on Tuesday with appointments made before the Council Agenda was announced so I will be unable to attend the Meeting in person. Please accept this letter as a request to pause a decision until these, and more questions aired by neighbors, have been aired. Regards, Pamela Stenmark pamelas@vail.net 146 From:Linda Hutson To:PublicInputTownCouncil Subject:munincipalization Date:Sunday, April 13, 2025 6:00:52 PM Dear Town Council, As a longtime homeowner in Vail, I have become distressed reading about the divide between residents who oppose the proposed municipalization and those who do not. I recently tried to clarify the difference between municipalization and monopolization. The latter, my life's lessons have taught me, is a negative thing. I don't know much about the former yet. I love living in this small community where small family-owned and operated businesses can and do provide excellent customer service. I love the fact that I can call these businesses with a concern and the owner of the company will call me back. I don't have confidence that a munipalized service company will offer the same small town customer service. I come from a family of entrepreneurs who all grew up in a little (but picture perfect town) in Central Illinois. My Granddaddy Gene was a little town lawyer who represented the Secretary of Public Instruction for the State of Illinois. He was a colorful character and while he spoke to local communities on behalf of the department, he also firmly believed in the Conservative Party of that era and their strong belief that Government should not unduly wrest control from individually owned companies. He often said that the most terrifying words spoken in the marketplace (in his opinion) were: "I'm from the government and I'm here to help you." My Dad was a perfect example of entrepreneurial spirit. He became a lawyer and founded the largest chain of nursing homes in the United States. He was all about providing exceptional and personalized service to his clients. His attention to detail was legendary. I bought the oldest Travel Agency in California. (Yep. A "very high level service company") One of my brothers has his own Architectural Company and the other has a Printing Company with satellite offices on campus at the University of Illinois. But lest you think that I believe that all government oversight is wrong. I don't. However, I do totally believe that we smaller family owned businesses are a very important part of what makes our smaller communities special. The heartbeat of the community, if you will. It's been my experience with the government run entities that when you call them, you wait on hold for hours, you finally give up and leave a message and then no one calls you back. Or in the case of the government run entities in my home city of Chicago, you don't even bother. You pack lunch, a bottle of water and a good book and go to the government entity in person -- and spend the day (or two) waiting in line to see someone. So I hope that you, Vail Town Council, will think of the small individually run businesses who will lose their family businesses if you go forward with this municipalization; because once you go down this rabbit hole and family businesses disappear, we lose our small town charm. Sincerely Linda Hutson Vail, CO 312 560 8035 mshut111@gmail.com 147 From:Ron To:PublicInputTownCouncil Subject:Fwd: Resident letter Date:Sunday, April 13, 2025 9:06:16 PM This letter is to the Vail town council and Mayor. My name is Ronald Yaros and I have been a resident of Vail for over 30 years. My address is 5119 Black Bear Ln. I am writing to you to request that you do not consider going to a single provider for Trash Pickup in Vail. Over many years I have had different Companies for Trash Pickup and now use Vail Valley Waste. I am very happy with their service and would hate to have to change to a different service. They provide different levels of pick up and have always been very reliable. I personally do not like the idea of putting a local business out of business. I think homeowner should have a choice of who they want for their trash services. I do not think that any company should have a monopoly over the service. Vail Valley Waste will pick up whenever I call them and even go into my garage if I am not home at the time. Please do not vote for a single provider system. Thank you, Dr. Ronald Yaros. Sent from Ron's IPhone 148 From:Linda Hutson To:PublicInputTownCouncil Subject:Re: munincipalization Date:Sunday, April 13, 2025 9:56:23 PM Here's my letter to the Vail Town Council. You are briefly mentioned. Linda Hutson 312 560 8035 mshut111@gmail.com On Sun, Apr 13, 2025 at 5:00PM Linda Hutson <mshut111@gmail.com> wrote: Dear Town Council, As a longtime homeowner in Vail, I have become distressed reading about the divide between residents who oppose the proposed municipalization and those who do not. I recently tried to clarify the difference between municipalization and monopolization. The latter, my life's lessons have taught me, is a negative thing. I don't know much about the former yet. I love living in this small community where small family-owned and operated businesses can and do provide excellent customer service. I love the fact that I can call these businesses with a concern and the owner of the company will call me back. I don't have confidence that a munipalized service company will offer the same small town customer service. I come from a family of entrepreneurs who all grew up in a little (but picture perfect town) in Central Illinois. My Granddaddy Gene was a little town lawyer who represented the Secretary of Public Instruction for the State of Illinois. He was a colorful character and while he spoke to local communities on behalf of the department, he also firmly believed in the Conservative Party of that era and their strong belief that Government should not unduly wrest control from individually owned companies. He often said that the most terrifying words spoken in the marketplace (in his opinion) were: "I'm from the government and I'm here to help you." My Dad was a perfect example of entrepreneurial spirit. He became a lawyer and founded the largest chain of nursing homes in the United States. He was all about providing exceptional and personalized service to his clients. His attention to detail was legendary. I bought the oldest Travel Agency in California. (Yep. A "very high level service company") One of my brothers has his own Architectural Company and the other has a Printing Company with satellite offices on campus at the University of Illinois. But lest you think that I believe that all government oversight is wrong. I don't. However, I do totally believe that we smaller family owned businesses are a very important part of what makes our smaller communities special. The heartbeat of the community, if you will. It's been my experience with the government run entities that when you call them, you wait on hold for hours, you finally give up and leave a message and then no one calls you back. Or in the case of the government run entities in my home city of Chicago, you don't even bother. You pack lunch, a bottle of water and a good book and go to the government entity in person -- and spend the day (or two) waiting in line to see someone. So I hope that you, Vail Town Council, will think of the small individually run businesses who will lose their family businesses if you go forward with this municipalization; because once you go down this rabbit hole and family businesses disappear, we lose our small town charm. 149 Sincerely Linda Hutson Vail, CO 312 560 8035 mshut111@gmail.com 150 From:Greg Kissler To:PublicInputTownCouncil Subject:Municipalization of Trash Services Date:Monday, April 14, 2025 10:29:09 AM Vail Council, As a full time resident in Vail and property owner for nearly 10 years I have seen the TOV do a lot of great things. However the municipalization of trash services is something I am strongly opposed to. I have been a customer of both services and I can say from experience there is a huge difference between the two. I am now a customer of Vail Valley Waste and am pleased with their pricing, their communication, and most of all their customer service which is exceptional. There is good reason for their growth in our community because the owners are part of our community and they care about the service they provide and the customers that they serve. Thank You Greg Kissler 2653 Cortina Ln, Vail 151 From:Linda Moore To:Susanne Johnson; PublicInputTownCouncil Subject:Municipalization Singlehauler Discussion Date:Monday, April 14, 2025 10:35:07 AM Attachments:MUNICIPALIZATION TRASH 2025.docx Good Morning Vail Town Council and Valley Valley Waste, Please see the attached document with comments about the upcoming discussion of Singlehauler Municipalization in Vail. Thank you for your time and consideration. Best Regards Linda Schindel Moore 152 April 14, 2025 Singlehauler Municipalization Public Input Vail Town Council, I want to express my concern for the proposal to implement municipalization of residential services and the single hauler process. In our East Vail neighborhood, 91% of the units are full-time residents, instate second homeowners or long term rentals for local working employees. Eight of the nine residential services for waste hauling are performed by Vail Valley Waste. Over the years, other providers have been used but this local company has risen to the top in terms of service. Owners, Ted and Susanne Johnson and Byron Harrington friendly and naturally helpful when dealing with routine details or special circumstances. They are familiar as a local company. Parents Dozer and Susie Johnson were customers in my small business 40 + years ago and it is reassuring to me and many others to deal with this long-time local family. Their service model is schedule, they deal with those needs in a practical and positive manner. This municipalization proposal seems overreaching and interfering. It is my business arrangement and payment. The town is not providing this service as part of a utility billing. VVW is in Vail on Thursdays. This isn’t daily and hardly an excessive schedule. The unit number limitation appears arbitrary and unfair. I would ask that you refrain from implementing municipalization of residential services. Sincerely, Linda Schindel Moore East Vail 153 154 From:stephen croke To:PublicInputTownCouncil Subject:waste hauler decision Date:Monday, April 14, 2025 11:37:45 AM Please add my support to the decision regarding a single waste hauler. i feel as follows: “It has come to our attention that the Town of Vail will begin the process of changing the municipal code to allow for a single waste hauler to contract for all residences with fewer than seven units. Our concern is the Town of Vail is creating a one seller economy (also known as a monopoly) and the implications reach far beyond garbage collection. We are strongly opposed to this action.” 155 From:Amy Parliament To:PublicInputTownCouncil Subject:Why would you take away our choice of waste providers? Date:Monday, April 14, 2025 3:33:43 PM Dear Vail Town Council, To be candid, I am deeply disappointed to hear that TOV is moving forward with contract negotiations forcing us to use a specific waste provider. As a customer of Vail Valley Waste, I’ve consistently experienced exceptional service, fair pricing, and the reliability that only a locally owned business can deliver. It’s very concerning to see a decision made that could eliminate choice and move our community toward a less personal, corporate model—particularly when VVW has earned the trust and support of so many residents through hard work, integrity, and responsiveness. We switched to VVW for just these reasons and it would be incredibly frustrating to have to take such a step backwards. The idea of losing the ability to choose my service provider, especially one that’s provided outstanding value, is concerning. I strongly believe that Vail should continue to support an open market where small, local businesses can thrive and residents retain the right to choose the services that best fit their needs. Thank you for the service you provide and the way you’ve shown up for the Vail community over the years. I sincerely hope this decision can be revisited with more thoughtful community input. Warm regards, Amy Parliament (970)376-5318 156 From:Susan Gordon To:PublicInputTownCouncil Subject:Vail Valley Waste Date:Monday, April 14, 2025 3:37:41 PM Dear Council Members, I have been a customer of Vail Valley Waste for several years and have been very pleased with their service. It is my understanding that if the Council decides to go to a Municipalization contract and I would not be able to use Vail Valley Waste. Please do not deny me their service and set up a monopoly with another company which would leave me with no choice about my provider. Thanks you for reading my comment. Bless your deliberations. Respectfully, Sue Gordon srbegordon@me.com 157 From:Emily Kloser To:PublicInputTownCouncil Subject:Single Hauler Vote Date:Monday, April 14, 2025 6:14:41 PM Dear Town of Vail Council, Mike and I are hosting an event for the Vail Valley Foundation Tuesday April 15th (tomorrow night) and will not be able to attend the council meeting and help discuss the single hauler issue. We do not want Vail Town Council to take our absence as a sign we no longer care about this issue. We do care. We understand how attractive a single hauler solution could be to the Town. I can understand how this decision could be made to think you are doing the citizens of Vail a favor as less trucks are on the road and cost of waste collection is reduced. All sounds good until all the competition is no longer keeping the prices lower and the service acceptable. Without competitive pricing and businesses there is no incentive to provide the best product at the best price. Once a government justifies a single hauler solution for garbage then this solution can be applied to many other businesses. I can throw out all sort of what ifs that sound outrageous until all the sudden someone in town government says “you know if we had one company doing this the economies of scale would be advantageous to our community” and all of the sudden there is one ski tuning machine in town and everyone in Vail gets a discount to get a crappy tune—until the owner of the tuning machine realizes he can charge more for this crappy tune as he has the only contract to tune skis. Why would the company the Town of Vail chooses for collecting garbage for all of us need to work hard to keep costs down and provide great service if all the other companies have gone bankrupt due to government deciding the winner. A December 2020 article in Food and Power by Claire Kelloway titled "How Monopolies Took Over Trash Collection and Undermined Recycling and Composting” states: In the mid-20th century, the waste industry was highly decentralized, with tens of thousands of businesses and small public and private landfills serving the country (including some controlled by the mafia). Today just two corporations, Waste Management and Republic Services, control nearly half of the remaining U.S. landfill capacity and run trash and recycling services for cities nationwide. “Waste Management Inc. says, ‘We can do this cheaper’ … but then as soon as they have the contract, they change the conditions … and then they raise prices,” Seldman says. Vail was built by a group of innovated pioneers who saw opportunities and 158 took chances. What if these pioneers were told Colorado should have one ski resort and this will be good for all? Our history is full of a family arriving in a station wagon to open restaurants, ski shops, hotels, gas stations, etc. These families built businesses, homes, schools and more. Locals supported locals and to create a world class ski resort and the most amazing town full of energetic, imaginative and enduring people which turned into a real community called Vail. Town government did not do this, people did this. Hard work did this. Thank you for your time and please vote as if you owned a small waste collection company. Vote as if the Pioneers of Vail are watching you! Emily and Mike Kloser Emily Kloser (970) 376-8601 Mike Kloser (970) 376-2002 159 From:Andrea Andersson To:PublicInputTownCouncil Subject:Single Hauler Vote Date:Tuesday, April 15, 2025 8:03:08 AM Dear Town of Vail Council, I understand how attractive a single hauler solution could be to the Town. I know, that means less trucks on the road. All sounds good until all the competition is no longer keeping the prices lower and the service acceptable without competitive pricing and business there is no incentive to provide the best product at the best price. I don't support municipalization. I support choice and a open Market in Vail. Best regards, -- Andi Life is good! 160 From:Prisca Boris To:PublicInputTownCouncil Subject:Single Hauler Date:Tuesday, April 15, 2025 9:18:18 AM Dear Vail Town Council, Rick and I have a conflict during tonights meeting however we wanted to make sure we expressed our concern for the Single Hauler trash issue that is on the docket tonight. We understand the concerns the town has brought up about trucks on the town roads, however we believe that lack of competition will lead to a decrease in service and an increase in price due to no accountability and a monopoly situation. Without competition, there is no incentive for companies to go over and above to keep their customers happy. We also believe that this can lead to additional legislation that would require the town to use one business for each service required to run a home. What about the plumber, landscaper, builder, building supply company? This just seems to us as though the town is going down a very dictatived and slippery slope. Thank you for your time and effort. Prisca Boris Richard Petrillo 970.390.1008 161 From:Diana Donovan To:Council Dist List Subject:Trash Date:Tuesday, April 15, 2025 9:23:17 AM 162 From:Beth Markham To:Russell Forrest; Council Dist List Cc:Steph Johnson; Kristen Bertuglia Subject:FW: Single hauler Issue Date:Tuesday, April 15, 2025 9:51:16 AM Attachments:image005.png Just passing this resident input to you all. Thanks! Beth Beth Markham Environmental Sustainability Department Environmental Sustainability Manager 75 S. Frontage Road W. Vail, Colorado 81657 970-479-2333 970-568-6759 cell vail.gov From: Walter Lamkin <walter.lamkin@gmail.com> Sent: Tuesday, April 15, 2025 9:41 AM To: Beth Markham <bmarkham@vail.gov> Subject: Single hauler Issue As a homeowner in Vail (Cascade), we are totally against a single provider for trash pickup. Why should a town determine who we get to get our trash. We are very happy 163 with our current provider and see no reason why the city council should tell us what to do. This is at best an overreach by the council. I suggest it mind its own business. Sincerely, Walter Lamkin 1306 Westhaven Circle 164 From:Josh Lemos To:PublicInputTownCouncil Subject:Single Hauler concern Date:Tuesday, April 15, 2025 9:53:57 AM Attachments:image001.png Good morning, I live at 1834 Glacier Ct Unit A and am very concerned about the consequences on going to a single hauler for trash. It is well known that competition increases service and accountability while keeping prices in check. Regulation of prices also keeps pricing in check but through an artificial means that is not tied to market needs and demands. A single hauler will lead to a lower service level while the hauler strives to do one thing, maximize their profits through lowering their costs while beholden to a fixed rate contract. When a single hauler has a set price they are paid their only means to increase their profits is to lower their costs. That will come at the home owner’s expense as the hauler reduces their services. Additionally, the TOV’s ability to select a different hauler when there are service issues will be slow, at best. Having a single hauler solves one issue while creating numerous other issues as well as a higher burden on TOV resources to manage the single hauler. If the single hauler is not managed, which means no strain on TOV resources, then there is no accountability. Pros of a single hauler Less traffic Cons of a single hauler Reduction to market driven pricing. Reduced levels of service due to vendor cost cutting. Added strain on TOV resources through management and oversight. Vendor lock-in and vendor dependency makes it costly and time consuming to switch. The risk of a strike by the single hauler would paralyze service Potential for higher costs. Reduced innovation. Reduced bargaining power over time due to less competition. 165 Please do NOT do this! All best, Josh Lemos President, Lemos Group D: (949) 677-0057 E:josh@joshlemos.com NMLS #278295 | DRE #10053491 1805 E. Garry Avenue, Santa Ana, CA 92705 Arbor NMLS #236669 | Arbor DRE #01845041 “Inquire before you wire” IMPORTANT NOTICE: Beware of Cyber Fraud. You should NEVER wire money to any bank account that ARBOR Financial Group a dba of The Turnkey Foundation provides to you via email without first speaking with our office. Further, DO NOT accept emailed wire instructions from anyone else without voice verification. Even if an email looks like it has come from this office or someone involved in your transaction, CALL US FIRST AT A NUMBER YOU KNOW TO BE CORRECT FOR THIS OFFICE to verify the information before wiring any money. Be particularly wary of any request to change wire instructions you already received. We will never ask you to email sensitive documents. Use our secure portal. 166 From:Judie Conn To:PublicInputTownCouncil Cc:Judie Conn Subject:Vail Valley Waste Date:Tuesday, April 15, 2025 10:42:59 AM Dear Members of the Town Council, My name is Judie Conn, I moved to Vail May 1st, 1966, shortly after my college graduation. Over the years I have lived in New York, but I have spent my time equally here and there as I work for Gorsuch. Like many of the group of young people that came in the early years suddenly I am 81 and while I still work 5 days a week and have a full life with family and friends, I am required to be on oxygen 24 hours a day at this altitude. My home has been on Bald Mountain Road since the mid 70’s and one of the most difficult tasks for me is weekly trash collection. Moving the trash while dragging a metal container on wheels is very difficult. After many years of the Honey Wagon, Vail Valley Waste knew who I was suggested that they come to my house, have the men go into my garage, empty the trash and put container back. The difference between that and me struggling is immense. Please don’t take away their ability to be in the Vail market. They are a Local company, owned by a wonderful second-generation Local family raising a third generation, this is what has made Vail great. Let’s support them! Thank you for your consideration, Judie Conn 2425 Bald Mountain Road Vail, Co. 81657 167 From:Justin Lavin To:PublicInputTownCouncil Subject:Single Trash Hauler Date:Tuesday, April 15, 2025 12:17:34 PM Louise and I are out of town and unable to attend tonights meeting. However, we would like to express our concern about the potential adoption of a single area trash hauler ordinance. While we understand the desire to decrease traffic, we feel that the potential benefits of competition such as better service and competitive pricing are also very important and would prefer to have multiple options. Justin and Louise Lavin 1834 B Glacier Court 168 From:KC Lasher To:PublicInputTownCouncil Subject:Single Haul Trash Service Date:Tuesday, April 15, 2025 1:18:48 PM Vail Town Council, I understand that you have received much feedback in regards to considering contracting a single company to collect trash for those of us who live in seven units or fewer residences. First and foremost those of us at 2289 Chamonix Lane are completely satisfied with the private company (Vail Valley Waste) that we currently use. I appreciate the council's efforts to centralize in order to improve waste management, but I personally do not believe it is the right course of action. This takes away community members' right to free enterprise and our ability to choose who we see fit for trash collection. It also takes away our choice to support the one and only true local waste company in the Valley. We were proud supporters of Vail Honeywagon for years when it was owned and operated by the Donovan family. Once it sold and Vail Valley Waste came along we immediately made the switch and have been highly satisfied with our service. As a member of the Vail community for over 26 years, I think it is more important than ever to support our local businesses. Thank you for considering the input of residents in this important decision. Although I am not in favor of having the town make this choice for many of its residents, I hope that you will at least seriously consider awarding this contract to Vail Valley Waste based on its consistent and reliable customer service and community engagement. Best, KC Lasher 2289 Chamonix Lane Apt.2 169 From:Marissa Kovac To:Council Dist List Subject:I DO support CHOICE and an OPEN MARKET in Vail. Date:Tuesday, April 15, 2025 5:09:06 PM Hello there, It has come to my attention that the Town of Vail will begin the process of changing the municipal code to allow for a single waste hauler to contract for all residences with fewer than seven units. Our concern is the Town of Vail is creating a one seller economy (also known as a monopoly) and the implications reach far beyond garbage collection. I am are strongly opposed to this action. Thanks, Marissa Kovac 170 From:Marissa Kovac To:Council Dist List Subject:Concern regarding Parking structure cleaning and dust Date:Tuesday, April 15, 2025 5:22:36 PM I hope this message finds you well. I’m writing to express a concern regarding the cleaning schedule and methods used in the parking structure. I have noticed that this winter in particular, the cleaning has been occurring earlier than 2am, and it is creating a significant amount of dust and disruption. I have been working late nights in Vail Village for 10 years and typically get off work after 1am. There were many times this season that I had been walking to my car after work and am forced to inhale dirty and crusty dust. The dust being kicked up during the process becomes a nuisance for anyone in the vicinity. In addition, the timing of the cleaning can be quite intrusive due to the noise and reduced air quality. Would it be possible to consider adjusting the cleaning schedule to a later time? (After 3am) I understand the importance of regular maintenance, but a more considerate approach would greatly improve the experience for residents and employees alike. Thank you for your attention to this matter. I’d be happy to discuss it further or offer suggestions if helpful. Best regards, Marissa Kovac 171 From:Kim Dozier To:PublicInputTownCouncil Subject:Single trash hauler Date:Tuesday, April 15, 2025 6:01:13 PM Hi All, My husband and I live at 1975 W Gore Creek Dr. I think it’s not in the residents favor or best market practices to force people to only use 1 vendor. The valley is already suffering from lack of quality vendor choices and for that reason pay more for poor quality. Our neighbor said it best: Pros of a single hauler Less traffic Cons of a single hauler Reduction to market driven pricing. Reduced levels of service due to vendor cost cutting. Added strain on TOV resources through management and oversight. Vendor lock-in and vendor dependency makes it costly and time consuming to switch. The risk of a strike by the single hauler would paralyze service Potential for higher costs. Reduced innovation. Reduced bargaining power over time due to less competition. Please do NOT force this. Thank you * My response time makes up for my spelling errors. 172 173 AGENDA ITEM NO. 6.2 Item Cover Page DATE:April 15, 2025 TIME:30 min. SUBMITTED BY:Steph Johnson, Housing ITEM TYPE:Contract Award AGENDA SECTION:Action Items (6:15pm) SUBJECT:Resolution No. 19, Series of 2025 A Resolution Approving a Development Management Agreement for the Development of the West Middle Creek Village Apartments between the Town of Vail, Vail Home Partners Corporation, and Corum Real Estate Group Inc. (7:00pm) SUGGESTED ACTION:Approve, approve with amendments, or deny Resolution No. 19, 2025. PRESENTER(S):Carlie Smith, Finance Director and Jason Dietz, Housing Director VAIL TOWN COUNCIL AGENDA ITEM REPORT ATTACHMENTS: Council Memo - West Middle Creek Development Agreement Attachment A. Resolution No. 19 - WMC Development Agreement 174 TO: Vail Town Council FROM: Town Manager and Housing Department DATE: April 15, 2025 SUBJECT: West Middle Creek Development Agreement I. SUMMARY This memo is to provide an overview of the development agreement, in its current form, for West Middle Creek between the Town of Vail, Vail Housing Partners Corporation “VHPC” and Corum Real Estate Group, “Corum”. VHPC is a non-profit organization consisting of a partnership between the Town and the Vail Local Housing Authority. VHPC will be the owner of West Middle Creek Development and Corum is the Development Manager for both VHPC and the Town. At the time of this memo’s drafting, we don’t have a final agreed upon draft for all parties to sign. There continues to be ongoing discussions and negotiations on the development agreement along with the AIA general contractors’ agreement as all parties attempt to navigate an unpredictable environment of cost escalations and trade policy that seem to change daily. Staff will provide the most recent draft as soon as it’s available. II. PROJECT DESCRIPTION West Middle Creek is a deed restricted multifamily workforce housing rental development. The Development consist of 268 rental units in three buildings. The plans include two levels of structured parking in a ‘podium’ spanning the length of the Development. Above the podium, the three residential structures, which are each four stories tall and separated by small plazas, contain the rental units. The Development is planned to contain approximately 6,000 SF of amenity space is located on the two levels of podium in the center of the Development. The first-floor amenity space contains the lobby, leasing, management and coworking space. The second-floor amenity space is made up of co-working and lounge areas, a kitchenette, and a 1,500 square foot fitness facility. The Development also includes 262 covered parking spaces in the structured parking podium and 272 storage lockers. The Development will include a structure containing stairs and an elevator providing vertical access from the ground level of the Development down to a public bus stop along the frontage road. The planned breakdown of rental units within the project is illustrated below. 175 Town of Vail Page 2 Type of Apartment Number of Units Approximate Size Studio 84 515 square feet One-bedroom 100 707 square feet Two-bedroom 36 1,162 square feet Two-bedroom 48 1,070 square feet III. DISCUSSION The Development cost is anticipated to be $164.1 million with approximately $134 million within the scope of the general contractor. The project is expected to be a 40-month build time with over a year of infrastructure work. The underlying AIA GC contracts are based on a Guaranteed Maximum Price “GMP” bid the GC provided in December of 2024 and assumed a spring 2025 start. Through the 40-month build time the GMP assumed cost escalation throughout the project, however, given the new trade war we find ourselves in, the potential cost escalation and predictability into the future have made it difficult to have a true GMP contract. Another factor in the current GMP bid is the buy-out timing, the GC says they can’t buyout the project within 180 days and feels it will take approximately a year to get the major subcontractors contracted. The contract, in its current form, is more of a cost-plus contract. The agreement is currently being modified to add an escalation contingency waterfall to share and mitigate escalation risk. Ultimately the cost escalation risk lays substantially with the Town and VHPC if the various waterfall thresholds are exceeded. The following terms summarize the development agreement in its current form:  Key Corum Obligations o Corum shall complete the necessary predevelopment, development, and construction work to enable VHPC to lease a fully entitled and fully constructed and leased apartment building for residential occupancy subject to the Deed Restriction. o Coordinate and direct the work of the General Contractor, Architect, Civil Engineer and designers, engineers, consultants, attorneys, brokerage professionals, and any other professional service providers. o Secure all necessary zoning approvals, permits, governmental approvals, third party approvals and entitlements for the Development. o Cause the Work to be performed at the Development substantially in accordance with the Development Budget and the Plans and Specifications. o Supervise and inspect the progress of any work at the Property and communicate the status of work progress with the Town on a frequency of no less than monthly. o Coordinate the Development so that it remains in compliance with the terms of any applicable financing, leases, or any other agreements and contracts relating to the Development and VHPC. o Provide construction administration services throughout the construction of the Development. o Manage the General Contractor, attend weekly construction meetings, monitor disbursements so that all applicable subcontractors are timely paid, and coordinate applications for payment by contractors performing the Work and, if a representative from the Town is not present at such meetings, advise the Town as to the discussions in such meetings. o Administer all Applications for Payment and manage the payment of amounts owed to any person or entity working on the Development. 176 Town of Vail Page 3 o Manage the schedule of construction of the Development in compliance with the Development Schedule and in accordance with federal, state and local law and the Town’s procedural requirements. o Corum shall coordinate the issuance by the Town of necessary temporary certificates of occupancy and thereafter final certificate of occupancy and certificate of completion, which indicates the Town’s acceptance of the Development. o Corum shall be responsible for causing the Development to be completed at or under the maximum amount set forth in the Development Budget, as amended from time to time. o Corum shall be responsible for the payment of all Covered Cost Overruns, in a maximum amount not to exceed 50% of the Development Fee, provided that such limit shall not apply to any Cost Overruns which result in any breach by Corum of this Agreement or any agreement related to the Development, nor shall such limit apply to any Cost Overruns arising from the negligence or intentional misconduct of Corum (the “Cost Overruns Guaranty”). The Cost Overruns Guaranty shall continue through the Warranty Period.  The following events are reasonably foreseeable and Cost Overruns related to the following would constitute Covered Cost Overruns borne by Corum:  Failure of the Architect to perform its obligations under the architect agreement, civil engineer to perform its obligations under the civil engineering agreement, or failure of the General Contractor to perform its obligations under the Construction Contract; provided that Corum is a third-party beneficiary of each such contracts for purposes of enforcement, at the cost and expense of VHPC.  Failure of the General Contractor to manage construction costs within the constraints of the Construction Contract (other than with respect to Change Orders instituted by and/or approved by VHPC in writing) for the Development once the subcontracts have been procured by the General Contractor for the prime subcontractors and material providers (consisting of concrete, framing, lumber, electrical and plumbing) (i.e., the “Construction Buyout”), including, without limitation, with regards to (i) increased costs arising from a lack of supply of, or demand for, labor, other than otherwise set forth below as an event of Force Majeure; (ii) published changes in federal, state or local law, as of the effective date of this Agreement, other than otherwise set forth below as an event of Force Majeure; (iii) increased costs arising from the adoption on the national, state or local level of more restrictive laws and governmental regulations, including tariffs or similar governmental fees or taxes on materials used in the Development, published as of the effective date of this Agreement; (iv) change orders demanded by the General Contractor to maintain construction of the Development which are not instituted by Corum, VHPC or the Town; (v) intentionally deleted; (vi) health and safety incidents on the construction site; (vii) any penalties or fees arising from non-compliance of law by Corum; or (viii) construction defects arising before or within the Warranty Period which are not reimbursed by the General Contractor, Architect, Engineer, other third party or insurance, pursuant to an enforcement action undertaken by Corum, at the cost and expense of VHCP. 177 Town of Vail Page 4  Any Cost Overrun described in Article VIII.C below that would permit a For Cause Termination of this Agreement by VHPC.  Key VHPC Obligations o Assist Corum in obtaining all approvals required to permit development, construction and operation of the Development. o Provide timely decisions to facilitate Corum’s execution of its responsibilities. o Make payments during the Construction Phase in accordance with the development agreement. o All plans, designs and related documentation and materials provided or developed by for the Development shall be exclusively owned by VHPC. o Responsible for Non-Covered Cost Overruns: “Non-Covered Cost Overruns” means: (i) Cost Overruns due to Unforeseen Conditions (as defined below), (ii) any Cost Overruns that are approved by the Town in writing as a modification of the approved Development Budget, except to the extent such modifications in the approved Development Budget are demanded by the General Contractor, (iii) Cost Overruns that result from a Force Majeure Event impacting the Development, (iv) allowances as identified in the Construction Contract; (vi) any and all “financing costs” (including interest expense), operating deficits, real property taxes and assessments and other similar property “carry” costs accruing from and after Final Completion; (vi) Cost Overruns directly related to a failure of VHPC to respond for a period of more than twenty (20) days to a written request by Corum pertaining to a matter affecting the Construction Contract, provided that after ten (10) days after such initial written request Corum shall have provided to VHPC a second written request for such guidance; or (vii) Cost Overruns that are not reasonably foreseeable or within the reasonable control of Corum which could not have been reasonably inferred from the due diligence reviewed by Corum using a customary and generally accepted standard of care for construction projects similar to the Development. o  Key Town Obligations o The Town shall waive all development application fees and building permit fees for the Development. o The Town shall waive all fees, assessments, impositions, and - rebate all the Town's construction materials use tax imposed on the Development.  Development Fee: The development fee is 5% of the project cost and broken into two equal parts. o 50% of the fee will be earned in monthly installments as the project is developed. o The remaining 50% shall be deferred and used as a “Covered Cost Overrun Guaranty”, an extra layer of protection for the owner to ensure Corum effectively manages the project. The final portion of the developers’ fees will be released in phases based on the completion of the buildings, punch list and warranty period.  10% of the Development Fee shall be payable upon issuance by the Town of a temporary certificate of occupancy for each of the three (3) buildings in the Development, for a total of 30% of the Development Fee  10% of the Development Fee shall be payable upon Final Completion; and  10% of the Development Fee shall be payable upon termination of the Warranty Period. 178 Town of Vail Page 5 IV. NEXT STEPS Staff continue to work with Corum and the legal team on finding the best way to mitigate risk and identify cost in our current environment. V. RECOMMENDATION Staff seek Town Council feedback, comments and questions regarding the development agreement in its current form. 179 RESOLUTION NO. 19 Series of 2025 A RESOLUTION APPROVING A DEVELOPMENT MANAGEMENT AGREEMENT FOR THE DEVELOPMENT OF THE WEST MIDDLE CREEK VILLAGE APARTMENTS BETWEEN THE TOWN OF VAIL, VAIL HOME PARTNERS CORPORATION AND CORUM REAL ESTATE GROUP, INC. WHEREAS, Town owns certain real property located at 351 North Frontage Road West, Vail, Colorado (the “Property”); and WHEREAS, Town with to convey the Property to Vail Home Partners Corporation (“VHP”) in the future; and WHEREAS, the Town and VHP wish to develop the Property as the West Middle Creek Village Apartments, a multifamily deed restricted housing development and wish to pay Corum Real Estate Group, Inc. to develop, manage and oversee construction of the development pursuant to the term set forth in the Development Management Agreement, attached hereto as Exhibit A and incorporated herein by this reference (the “DMA”). NOW THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF VAIL, COLORADO THAT: Section 1. The Town Council hereby approves the DMA 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 DMA 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 15th day of April 2025. ___________________________ Travis Coggin, Mayor ATTEST: ________________________________ Stephanie Johnson, Acting Town Clerk 180 AGENDA ITEM NO. 6.3 Item Cover Page DATE:April 15, 2025 SUBMITTED BY:Kathleen Halloran, Town Manager ITEM TYPE:Ordinance AGENDA SECTION:Action Items (6:15pm) SUBJECT:Ordinance No. 8, 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; and Declaring an Emergency (7:00pm) SUGGESTED ACTION:Approve, approve with amendments, or deny Emergency Ordinance No. 10, Series of 2025. PRESENTER(S):Carlie Smith, Finance Director and Jason Dietz, Housing Director VAIL TOWN COUNCIL AGENDA ITEM REPORT ATTACHMENTS: Council Memo - West Middle Creek Financing Update Attachment A. Ordinance 8 COP Staff Presentation - Updated West Middle Creek 181 TO: Vail Town Council FROM: Finance Department DATE: April 15, 2025 SUBJECT: West Middle Creek Emergency Ordinance & Market Update I. SUMMARY On April 1st, Council approved the 2nd reading of Ordinance No. 5, authorizing the town to issue Certificates of Participation (COPs) in an amount not to exceed $65.5M. On April 3rd, the newly formed Vail Home Partners authorized the issuance of Housing Revenue Bonds (HRBs) not to exceed $145.0M. While neither approval commits the town to issuing the COPs or HRBs, the authorizations came with specific parameters of debt levels. Due to volatile market conditions and interest rate movement, the current financial pricing is fluctuating between being in excess or very close to the parameters set by the Town in Ordinance No.5 impacting the ability to move forward with the project. The purpose of this emergency ordinance is to expand those parameters to the maximum level Council is comfortable with pursuing for this project financing. This memo is meant to serve as an update on market conditions, the impact to financing costs for the West Middle Creek project and trade-offs that may be necessary if the parameters are increased. II. BACKGROUND The current ordinance currently allows the town to issue debt for the West Middle Creek project within the following parameters: CURRENT PARAMETERS Town Certificates Of Participation (COPs) – 40 year Vail Home Partners Housing Revenue Bonds – 40 year Up to $65.5M Up to $145.0M Interest rate not to exceed 6.5% ($129.5M total interest cost over life) Interest rate not to exceed 7.5% ($129.5M total interest cost over life) Annual debt service not to exceed $8.5M Annual debt service not to exceed $35.0M Up front investment $10M Subsidy of $4.3M in first few years to cover debt service payments The above parameters assume the Town’s up-front investment of $10.0M and a debt service subsidy up to $4.3M in the first few years of operation. 182 Town of Vail Page 2 III. DISCUSSION Based on recent escalation of interest rates and volatility in the market for municipal debt, staff has provided an emergency ordinance should Council want to expand the parameters for the likely event they will restrict the financing from occurring at current levels. Under the financing structure, an increase interest rates will constrain the amount of Housing Revenue Bonds that can be supported by the project. In turn, this will require a larger COP offering to be issued by the town and a larger subsidy in the early years of operation. Outside of the financing risks, the West Middle Creek project is also facing development risks such as volatile cost escalation. Those risks are being addressed by the development agreement, however the project needs to have an approved development agreement prior to issuing the bonds. This is important because while it may be acceptable to the investment community if the town pulls out of financing due to unanticipated interest rate movement, it will harm the town’s financial reputation for backing out for other reasons, making future financings uncertain. Town Council should also consider the two large projects (Dobson and Timber Ridge) that are already underway when contemplating additional financial risks of West Middle Creek (WMC). - While still spending reserves to low levels, Dobson could be cash-financed if the $10M up-front investment in WMC was available. If WMC stays on track, Dobson will need to be financed by either a town COP or a short-term financing by the Vail Reinvestment Authority. However, not having to incur financing costs would allow for additional spending on the project or savings. For the purposes of this analysis, staff assumes the $10M is going to the WMC project. - There is still the risk that Timber Ridge is not fully sold-out within the budgeted timeframe. The town’s maximum risk is $40M, however for the purposes of this analysis, staff assumes that we have an estimated risk of $30M of cash that may not flow back in the next two years. Separate from these two large projects are the capital projects identified in the 5-year capital plan. Should Town Council decide to expand the parameters, there may need to be trade-offs with capital spending in other areas. Some of the larger planned capital projects in the next 5 years include the GeoThermal Energy System ($4.8M), Mobility Hub Expansion at the Vail Village Transportation Center ($3.5M). Neighborhood Road improvements ($4.4M) and Pedestrian Safety Enhancements ($2.3M). The first two have grants attached to them, which would be a part of consideration prior to a decision to defer. 183 Town of Vail Page 3 For Town Council’s consideration, below are options for expanding the parameters of the COP financing, with accompanying impacts to town finances: EXPANDED COP PARAMETERS Original Option A Option B (+70 Basis) COP Sizing $65.5M $80.0M $90.0 Interest Rate 6.5% 7.00% 7.25% Total Interest Cost $195.0M $245.0M $270.0M Annual debt service max $8.5M $10.0M $11.5M Subsidy exposure $4.3M $12.8M $19.7M Reduction in Capital Projects Spending; $ 0.0M $0.0M, but requires a re- allocation of $8.5M resulting from Eagle County Open Space funds and VRD Dobson cost- share $15.4M Other Considerations The current economic environment is highly volatile, and this uncertainty may continue for the foreseeable future. Undertaking three major projects simultaneously in this climate places the Town in a financially vulnerable position. Committing an additional $8.5M to $15.4M to the project in future years requires council’s careful consideration. In addition to the unpredictable interest rate market and a projected significant drawdown of the Town’s reserves, there are further risks that need to be considered within the development agreement, specifically regarding GMP pricing. The contractor (Shaw) cannot provide a true guaranteed maximum price given the current environment. The reality of the current structure is a “cost plus” model. There are also timing constraints requiring the financing to be completed by May 6th in order to keep the contractor. This leaves no flexibility in the bond sale date, which could pose challenges if market volatility persists. Reserve projections are anticipated to be at levels lower than we've historically maintained and limiting our financial flexibility in the years ahead. While the Town’s formal reserve policy is equivalent to approximately $22.0M across the General Fund, RETT Fund, and Capital Projects Fund, our longstanding fiscal philosophy has emphasized maintaining stronger than average reserves. This conservative approach has served the Town well, particularly during previous periods of economic uncertainty. Healthy reserves have allowed us to invest in the community when it matters most, be prepared for a catastrophic event, invest in our infrastructure, and take advantage of capital opportunities. To support this discussion, staff has prepared updated five-year reserve projection charts. These illustrate available reserves above our minimum policy thresholds under two scenarios: one where the Town is fully repaid for Timber Ridge, and another where only $10M of the $40.0M is repaid. These projections are intended to help inform the financial implications of moving forward with West Middle Creek. 184 Town of Vail Page 4 $139.4M $110.7M $41.4M $63.3M $59.1M $65.0M $60.3M $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 TOV Reserves: Available to Spend 5 Year Projection Housing Fund RETT Fund Capital Projects Fund General Fund $139.4M $110.7M $41.4M $33.3M $29.1M $34.1M $28.0M $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 TOV Reserves: Available to Spend 5 Year Projection without $30.0M TR Sales RETT Fund Housing Fund Capital Projects Fund General Fund 185 Town of Vail Page 5 Market Update The municipal market was exceptionally volatile in the last two weeks. Staff will update this section of the memo on Monday, April 14th so that the most relevant information is available for discussion with Town Council on the 15th. IV. SUMMARY The council should consider the following options prior to tonight's reading of Ordinance No. 8, Series 2025.  Approve Ordinance No. 8, adjusting the COP parameters from $65.5M to $80.0M, allowing for additional interest rate movement but also committing additional cash funding to subsidize the project within the first years of operations.  Deny Ordinance No. 8, which could delay or terminate the project if interest rates do not decrease prior to marketing bonds scheduled to begin April 22nd. 186 1 ORDINANCE NO. 8 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; AND DECLARING AN EMERGENCY 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 (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; 187 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; WHEREAS, pursuant to Section 4.11 of the Charter, because of the urgent need for financing for the Development in order to provide much needed for-rent housing offered at rental rates that are attainable to a range of individuals and families, escalating Project costs, and the current volatility in the municipal bond market, the Town Council determines that an emergency exists and that adoption of this Ordinance as an emergency measure on first and final reading is necessary for the immediate preservation of public property, health, welfare, peace and safety; 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 188 3 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 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 shall not exceed $80.0 million. iv.The maximum annual repayment cost of Base Rentals payable by the Town shall not exceed $10.0 million, and the total repayment cost shall not exceed $245.0 million. v.The purchase price of the Certificates shall not be less than 98% of the aggregate principal amount. vi.The maximum net effective interest rate on the interest component of the Base Rentals shall not exceed 7.00%. vii.The amount of capitalized interest for deposit into the Base Rentals Fund, if any. viii.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 189 4 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 of approximately $10,000,000 as may be adjusted hereafter for construction and acquisition of the Development pursuant to a Loan Agreement previously approved by Ordinance No. 1, Series of 2025. 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 190 5 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 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. Emergency Determination. Pursuant to Section 4.11 of the Charter, because of the urgent need for financing for the Development in order to provide much needed for-rent housing offered at rental rates that are attainable to a range of individuals and families, escalating Project costs, and the current volatility in the municipal bond market, the Town Council determines that an emergency exists and that adoption of this 191 6 Ordinance as an emergency measure on first and final reading is necessary for the immediate preservation of public property, health, welfare, peace and safety, and this Ordinance shall be effective immediately upon final passage and adoption on first reading. Section 13. 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. INTRODUCED, READ ON FIRST READING, APPROVED, AND ADOPTED ON FIRST READING AS AN EMERGENCY ORDINANCE AND ORDERED PUBLISHED this 15th day of April, 2025. ________________________________ Travis Coggin, Mayor ATTEST: ___________________________ Stephanie Johnson, Acting Town Clerk 192 pipersandler.com | 1 West Middle Creek Project Vail, Colorado Council Update April 15, 2025 193 pipersandler.com | 2 Market Update 3.50% 4.00% 4.50% 5.00% 1/ 1 / 2 0 2 5 1/ 8 / 2 0 2 5 1/ 1 5 / 2 0 2 5 1/ 2 2 / 2 0 2 5 1/ 2 9 / 2 0 2 5 2/ 5 / 2 0 2 5 2/ 1 2 / 2 0 2 5 2/ 1 9 / 2 0 2 5 2/ 2 6 / 2 0 2 5 3/ 5 / 2 0 2 5 3/ 1 2 / 2 0 2 5 3/ 1 9 / 2 0 2 5 3/ 2 6 / 2 0 2 5 4/ 2 / 2 0 2 5 4/ 9 / 2 0 2 5 30-Yr MMD Year-To -Date •The municipal bond market has seen wild swings over the past week due to headlines surrounding tariffs and economic uncertainty. •Investors sold off positions rapidly on early last week which flipped to investors rapidly buying later in the week. •Tuesday (4/8) set a record for the highest number of positions for sale and Wednesday (4/8) set a daily volume record of bonds traded at over $32 billion (approximately 2x a normal Wednesday). •MMD will open on 4/15 at 4.54%, a 30 bp increase (0.30%) compared to where MMD started this month at 4.24%. Date 30-Yr MMD Change From Day Prior (basis points) Cumulative Change (basis points) Mon, April 7 3.99%-8 bps -8 bps Tue, April 8 4.34%35 bps 27 bps Wed, April 9 4.54%20 bps 47 bps Thu, April 10 4.84%30 bps 77 bps Fri, April 11 4.39%-45 bps 32 bps Mon, April 14 4.64%25 bps 57 bps Tue, April 15 4.54%-10 bps 47 bps MMD Over The Last Week 194 pipersandler.com | 3 Financing Scenarios Update •The Town has an interest rate cushion of 28 bps to current market rates before hitting a COP par amount of $80 million, a cushion of 53 bps before hitting a COP par amount of $85 million and a cushion of 79 bps before hitting a COP par amount of $90 million. •All scenarios continue to target approx. 1.30x coverage on the revenue bonds. Differences in COP sizing as well as any potential out-of-pocket debt service the Town could be exposed to on the COPs are noted below. •Assumptions include: 5% vacancy rate; 3% annual NOI growth rate; $150/month parking fees; investing of the project fund, debt service reserve fund and capitalized interest fund. Preliminary; subject to change. Base Case Current Rates $80M COP Par Amount Current Rates + 28 bps $85M COP Par Amount Current Rates + 53 bps $90M COP Par Amount Current Rates + 79 bps Unit Mix 115% Avg AMI in Total 115% Avg AMI in Total 115% Avg AMI in Total 115% Avg AMI in Total 2029 Net Cash Flow ~$9,633,840 ~$9,633,840 ~$9,633,840 ~$9,633,840 COP Par Amount $73,885,000 $80,000,000 $85,000,000 $90,000,000 Town Equity Contribution $10,000,000 $10,000,000 $10,000,000 $10,000,000 Potential Town Exposure $8,066,757 $12,582,411 $17,479,376 $23,484,993 Years of Potential Exposure 2028-2035 2028-2036 2028-2038 2028-2039 Projected Surplus $79,556,664 $63,803,771 $50,036,221 $36,300,907 Total Interest $392,374,200 $412,171,684 $430,482,208 $449,884,058 True Interest Cost 6.08%6.33%6.55%6.79% Final Maturity 10/1/2064 10/1/2064 10/1/2064 10/1/2064 Summary of Financing Statistics 195 pipersandler.com | 4 Financing Statistics Over Time Preliminary; subject to change. 12/5/2024 1/23/2025 2/25/2025 3/11/2025 3/27/2025 4/7/2025 4/15/2025 Project Size $161.5M $161.5M $161.5M $164.1M $164.1M $164.1M $164.1M Par Amount - Revenue Bonds $133.8M $129.9M $130.0M $131.6M $126.0M $123.3M $118.3M Par Amount - COPs $42.8M $49.8M $49.6M $56.8M $65.5M $67.3M $73.9M True Interest Cost - Revenue Bonds 5.34%5.76%5.74%5.83%6.14%6.17%6.47% True Interest Cost - COPs 4.92%5.00%4.97%5.02%5.17%5.25%5.46% 30-Yr MMD Rate 3.57%3.98%3.97%4.05%4.31%4.34%4.54% Projected Out-Of-Pocket Exposure $666K $822K $773K $2,192K $4,285K $4,828K $8,066K Financing Statistics Over Time 196 pipersandler.com | 5 Sources & Uses (Current Rates) Preliminary; subject to change. Revenue Bond Proceeds (Par + Discount)$116,322,388 Revenue Bond Par Amount $118,320,000 Revenue Bond Discount ($1,997,612) COP Proceeds (Par + Premium)$75,085,916 COP Par Amount $73,885,000 COP Premium $1,200,916 Town Contribution $10,000,000 Investment Earnings $8,504,785 Total Sources $209,913,089 Project Fund $164,074,535 Debt Service Reserve $11,832,000 Capitalized Interest Fund $31,121,940 Costs of Issuance $2,884,613 Total Uses $209,913,089 Uses Sources 197 $161.1M $133.9M $64.5M $86.9M $83.0M $89.5M $85.2M $0.0M $20.0M $40.0M $60.0M $80.0M $100.0M $120.0M $140.0M $160.0M $180.0M 2023 Actual Preliminary 2024 Actual 2025 2026 2027 2028 2029 5 Year Reserve Projections $40.0M from Timber Ridge Sales General Fund Capital Projects Fund Housing Fund RETT Fund Reserve Min 198 161.1M 133.9M 64.5M 56.9M 53.0M 58.6M 52.9M 0.0M 20.0M 40.0M 60.0M 80.0M 100.0M 120.0M 140.0M 160.0M 180.0M 2023 Actual Preliminary 2024 Actual 2025 2026 2027 2028 2029 5 Year Projected Reserves:$10M from Timber Ridge Sales General Fund Capital Projects Fund Housing Fund RETT Fund Reserve Min 199 pipersandler.com | 6 $0 $5 $10 $15 $20 $25 $30 12 / 3 1 / 2 0 2 5 12 / 3 1 / 2 0 2 6 12 / 3 1 / 2 0 2 7 12 / 3 1 / 2 0 2 8 12 / 3 1 / 2 0 2 9 12 / 3 1 / 2 0 3 0 12 / 3 1 / 2 0 3 1 12 / 3 1 / 2 0 3 2 12 / 3 1 / 2 0 3 3 12 / 3 1 / 2 0 3 4 12 / 3 1 / 2 0 3 5 12 / 3 1 / 2 0 3 6 12 / 3 1 / 2 0 3 7 12 / 3 1 / 2 0 3 8 12 / 3 1 / 2 0 3 9 12 / 3 1 / 2 0 4 0 12 / 3 1 / 2 0 4 1 12 / 3 1 / 2 0 4 2 12 / 3 1 / 2 0 4 3 12 / 3 1 / 2 0 4 4 12 / 3 1 / 2 0 4 5 12 / 3 1 / 2 0 4 6 12 / 3 1 / 2 0 4 7 12 / 3 1 / 2 0 4 8 12 / 3 1 / 2 0 4 9 12 / 3 1 / 2 0 5 0 12 / 3 1 / 2 0 5 1 12 / 3 1 / 2 0 5 2 12 / 3 1 / 2 0 5 3 12 / 3 1 / 2 0 5 4 12 / 3 1 / 2 0 5 5 12 / 3 1 / 2 0 5 6 12 / 3 1 / 2 0 5 7 12 / 3 1 / 2 0 5 8 12 / 3 1 / 2 0 5 9 12 / 3 1 / 2 0 6 0 12 / 3 1 / 2 0 6 1 12 / 3 1 / 2 0 6 2 12 / 3 1 / 2 0 6 3 12 / 3 1 / 2 0 6 4 Mi l l i o n s Bond Net DS COP Net DS Net Cash Flow Preliminary; subject to change. Aggregate debt service exceeds projected net cash flow in 2028-2035 (estimated shortfall of $8.1M) Base Case (Current Rates) – Projected Net Debt Service Graph Net cash flow exceeds aggregate debt service in 2036-2064 (estimated surplus of $79.6M) 200 pipersandler.com | 7 $0 $5 $10 $15 $20 $25 $30 12 / 3 1 / 2 0 2 5 12 / 3 1 / 2 0 2 6 12 / 3 1 / 2 0 2 7 12 / 3 1 / 2 0 2 8 12 / 3 1 / 2 0 2 9 12 / 3 1 / 2 0 3 0 12 / 3 1 / 2 0 3 1 12 / 3 1 / 2 0 3 2 12 / 3 1 / 2 0 3 3 12 / 3 1 / 2 0 3 4 12 / 3 1 / 2 0 3 5 12 / 3 1 / 2 0 3 6 12 / 3 1 / 2 0 3 7 12 / 3 1 / 2 0 3 8 12 / 3 1 / 2 0 3 9 12 / 3 1 / 2 0 4 0 12 / 3 1 / 2 0 4 1 12 / 3 1 / 2 0 4 2 12 / 3 1 / 2 0 4 3 12 / 3 1 / 2 0 4 4 12 / 3 1 / 2 0 4 5 12 / 3 1 / 2 0 4 6 12 / 3 1 / 2 0 4 7 12 / 3 1 / 2 0 4 8 12 / 3 1 / 2 0 4 9 12 / 3 1 / 2 0 5 0 12 / 3 1 / 2 0 5 1 12 / 3 1 / 2 0 5 2 12 / 3 1 / 2 0 5 3 12 / 3 1 / 2 0 5 4 12 / 3 1 / 2 0 5 5 12 / 3 1 / 2 0 5 6 12 / 3 1 / 2 0 5 7 12 / 3 1 / 2 0 5 8 12 / 3 1 / 2 0 5 9 12 / 3 1 / 2 0 6 0 12 / 3 1 / 2 0 6 1 12 / 3 1 / 2 0 6 2 12 / 3 1 / 2 0 6 3 12 / 3 1 / 2 0 6 4 Mi l l i o n s Bond Net DS COP Net DS Net Cash Flow Preliminary; subject to change. Aggregate debt service exceeds projected net cash flow in 2028-2036 (estimated shortfall of $12.6M) $80M COP (Current Rates + 28 bps) – Projected Net Debt Service Graph Net cash flow exceeds aggregate debt service in 2037-2064 (estimated surplus of $63.8M) 201 pipersandler.com | 8 $0 $5 $10 $15 $20 $25 $30 12 / 3 1 / 2 0 2 5 12 / 3 1 / 2 0 2 6 12 / 3 1 / 2 0 2 7 12 / 3 1 / 2 0 2 8 12 / 3 1 / 2 0 2 9 12 / 3 1 / 2 0 3 0 12 / 3 1 / 2 0 3 1 12 / 3 1 / 2 0 3 2 12 / 3 1 / 2 0 3 3 12 / 3 1 / 2 0 3 4 12 / 3 1 / 2 0 3 5 12 / 3 1 / 2 0 3 6 12 / 3 1 / 2 0 3 7 12 / 3 1 / 2 0 3 8 12 / 3 1 / 2 0 3 9 12 / 3 1 / 2 0 4 0 12 / 3 1 / 2 0 4 1 12 / 3 1 / 2 0 4 2 12 / 3 1 / 2 0 4 3 12 / 3 1 / 2 0 4 4 12 / 3 1 / 2 0 4 5 12 / 3 1 / 2 0 4 6 12 / 3 1 / 2 0 4 7 12 / 3 1 / 2 0 4 8 12 / 3 1 / 2 0 4 9 12 / 3 1 / 2 0 5 0 12 / 3 1 / 2 0 5 1 12 / 3 1 / 2 0 5 2 12 / 3 1 / 2 0 5 3 12 / 3 1 / 2 0 5 4 12 / 3 1 / 2 0 5 5 12 / 3 1 / 2 0 5 6 12 / 3 1 / 2 0 5 7 12 / 3 1 / 2 0 5 8 12 / 3 1 / 2 0 5 9 12 / 3 1 / 2 0 6 0 12 / 3 1 / 2 0 6 1 12 / 3 1 / 2 0 6 2 12 / 3 1 / 2 0 6 3 12 / 3 1 / 2 0 6 4 Mi l l i o n s Bond Net DS COP Net DS Net Cash Flow Preliminary; subject to change. Aggregate debt service exceeds projected net cash flow in 2028-2038 (estimated shortfall of $17.5M) $85M COP (Current Rates + 53 bps) – Projected Net Debt Service Graph Net cash flow exceeds aggregate debt service in 2039-2064 (estimated surplus of $50.0M) 202 pipersandler.com | 9 $0 $5 $10 $15 $20 $25 $30 12 / 3 1 / 2 0 2 5 12 / 3 1 / 2 0 2 6 12 / 3 1 / 2 0 2 7 12 / 3 1 / 2 0 2 8 12 / 3 1 / 2 0 2 9 12 / 3 1 / 2 0 3 0 12 / 3 1 / 2 0 3 1 12 / 3 1 / 2 0 3 2 12 / 3 1 / 2 0 3 3 12 / 3 1 / 2 0 3 4 12 / 3 1 / 2 0 3 5 12 / 3 1 / 2 0 3 6 12 / 3 1 / 2 0 3 7 12 / 3 1 / 2 0 3 8 12 / 3 1 / 2 0 3 9 12 / 3 1 / 2 0 4 0 12 / 3 1 / 2 0 4 1 12 / 3 1 / 2 0 4 2 12 / 3 1 / 2 0 4 3 12 / 3 1 / 2 0 4 4 12 / 3 1 / 2 0 4 5 12 / 3 1 / 2 0 4 6 12 / 3 1 / 2 0 4 7 12 / 3 1 / 2 0 4 8 12 / 3 1 / 2 0 4 9 12 / 3 1 / 2 0 5 0 12 / 3 1 / 2 0 5 1 12 / 3 1 / 2 0 5 2 12 / 3 1 / 2 0 5 3 12 / 3 1 / 2 0 5 4 12 / 3 1 / 2 0 5 5 12 / 3 1 / 2 0 5 6 12 / 3 1 / 2 0 5 7 12 / 3 1 / 2 0 5 8 12 / 3 1 / 2 0 5 9 12 / 3 1 / 2 0 6 0 12 / 3 1 / 2 0 6 1 12 / 3 1 / 2 0 6 2 12 / 3 1 / 2 0 6 3 12 / 3 1 / 2 0 6 4 Mi l l i o n s Bond Net DS COP Net DS Net Cash Flow Preliminary; subject to change. Aggregate debt service exceeds projected net cash flow in 2028-2039 (estimated shortfall of $23.5M) $90M COP (Current Rates + 79 bps) – Projected Net Debt Service Graph Net cash flow exceeds aggregate debt service in 2040-2064 (estimated surplus of $36.3M) 203 pipersandler.com | 10 Appendix Debt Service Schedules for All Financing Scenarios 204 pipersandler.com | 11 Preliminary; subject to change. Base Case (Current Rates) – Projected Net Debt Service Graph (Revenue Bonds) Period Principal Interest Gross Debt Service DSRF Requirement Released Capitalized Interest Net Debt Service NOI (3.0% Growth) Before R&R Less: Deposit to R&R Reserve Plus: DSRF Interest Earnings (@3.75%) Net Cash Flow Avail. For Debt Service Debt Service Coverage Ratio 12/31/2025 - 2,731,107 2,731,107 - 2,731,107 - - - - - - 12/31/2026 - 7,505,331 7,505,331 - 7,505,331 - - - - - - 12/31/2027 - 7,505,331 7,505,331 - 7,505,331 - - - - - - 12/31/2028 - 7,505,331 7,505,331 - 3,752,666 3,752,666 3,042,404 42,707 1,492,558 4,492,254 1.20 12/31/2029 - 7,505,331 7,505,331 - - 7,505,331 9,254,592 74,494 443,700 9,623,798 1.28 12/31/2030 - 7,505,331 7,505,331 - - 7,505,331 9,691,931 76,729 443,700 10,058,902 1.34 12/31/2031 - 7,505,331 7,505,331 - - 7,505,331 9,982,689 79,031 443,700 10,347,358 1.38 12/31/2032 - 7,505,331 7,505,331 - - 7,505,331 10,282,169 81,402 443,700 10,644,467 1.42 12/31/2033 - 7,505,331 7,505,331 - - 7,505,331 10,590,635 83,844 443,700 10,950,491 1.46 12/31/2034 - 7,505,331 7,505,331 - - 7,505,331 10,908,354 86,359 443,700 11,265,695 1.50 12/31/2035 - 7,505,331 7,505,331 - - 7,505,331 11,235,604 88,950 443,700 11,590,354 1.54 12/31/2036 - 7,505,331 7,505,331 - - 7,505,331 11,572,672 91,618 443,700 11,924,754 1.59 12/31/2037 - 7,505,331 7,505,331 - - 7,505,331 11,919,853 94,367 443,700 12,269,186 1.63 12/31/2038 - 7,505,331 7,505,331 - - 7,505,331 12,277,448 97,198 443,700 12,623,950 1.68 12/31/2039 - 7,505,331 7,505,331 - - 7,505,331 12,645,772 100,114 443,700 12,989,358 1.73 12/31/2040 - 7,505,331 7,505,331 - - 7,505,331 13,025,145 103,117 443,700 13,365,728 1.78 12/31/2041 - 7,505,331 7,505,331 - - 7,505,331 13,415,899 106,211 443,700 13,753,388 1.83 12/31/2042 25,000 7,505,331 7,530,331 - - 7,530,331 13,818,376 109,397 443,700 14,152,679 1.88 12/31/2043 240,000 7,503,800 7,743,800 - - 7,743,800 14,232,927 112,679 443,700 14,563,948 1.88 12/31/2044 470,000 7,489,100 7,959,100 - - 7,959,100 14,659,915 116,059 443,700 14,987,556 1.88 12/31/2045 725,000 7,460,313 8,185,313 - - 8,185,313 15,099,713 119,541 443,700 15,423,872 1.88 12/31/2046 1,000,000 7,415,906 8,415,906 - - 8,415,906 15,552,704 123,127 443,700 15,873,277 1.89 12/31/2047 1,305,000 7,353,406 8,658,406 - - 8,658,406 16,019,285 126,821 443,700 16,336,164 1.89 12/31/2048 1,630,000 7,271,844 8,901,844 - - 8,901,844 16,499,864 130,626 443,700 16,812,938 1.89 12/31/2049 1,985,000 7,169,969 9,154,969 - - 9,154,969 16,994,859 134,544 443,700 17,304,015 1.89 12/31/2050 2,375,000 7,045,906 9,420,906 - - 9,420,906 17,504,705 138,581 443,700 17,809,824 1.89 12/31/2051 2,790,000 6,897,469 9,687,469 - - 9,687,469 18,029,846 142,738 443,700 18,330,808 1.89 12/31/2052 3,240,000 6,723,094 9,963,094 - - 9,963,094 18,570,742 147,020 443,700 18,867,422 1.89 12/31/2053 3,730,000 6,520,594 10,250,594 - - 10,250,594 19,127,864 151,431 443,700 19,420,133 1.89 12/31/2054 4,255,000 6,287,469 10,542,469 - - 10,542,469 19,701,700 155,974 443,700 19,989,426 1.90 12/31/2055 4,825,000 6,021,531 10,846,531 - - 10,846,531 20,292,751 160,653 443,700 20,575,798 1.90 12/31/2056 5,440,000 5,719,969 11,159,969 - - 11,159,969 20,901,534 165,473 443,700 21,179,761 1.90 12/31/2057 6,110,000 5,373,169 11,483,169 - - 11,483,169 21,528,580 170,437 443,700 21,801,843 1.90 12/31/2058 6,830,000 4,983,656 11,813,656 - - 11,813,656 22,174,437 175,550 443,700 22,442,587 1.90 12/31/2059 7,605,000 4,548,244 12,153,244 - - 12,153,244 22,839,670 180,816 443,700 23,102,554 1.90 12/31/2060 8,440,000 4,063,425 12,503,425 - - 12,503,425 23,524,860 186,241 443,700 23,782,319 1.90 12/31/2061 9,340,000 3,525,375 12,865,375 - - 12,865,375 24,230,606 191,828 443,700 24,482,478 1.90 12/31/2062 10,310,000 2,929,950 13,239,950 - - 13,239,950 24,957,524 197,583 443,700 25,203,641 1.90 12/31/2063 11,350,000 2,272,688 13,622,688 - - 13,622,688 25,706,250 203,510 443,700 25,946,439 1.90 12/31/2064 24,300,000 1,549,125 25,849,125 11,832,000 - 14,017,125 26,477,437 209,616 443,700 26,711,522 1.91 Total:118,320,000 256,447,738 374,767,738 11,832,000 21,494,435 341,441,303 598,291,315 4,756,381 17,465,758 611,000,692 205 pipersandler.com | 12 Period Principal Interest Gross COP Debt Service Capitalized Interest Net COP Debt Service Residual Net Cash Flow (Deficit) / Surplus Combined NOI Coverage 12/31/2025 - 1,491,949 1,491,949 1,491,949 - - - - 12/31/2026 - 4,100,013 4,100,013 4,100,013 - - - - 12/31/2027 - 4,100,013 4,100,013 4,100,013 - - - - 12/31/2028 - 4,100,013 4,100,013 2,050,006 2,050,006 739,588 (1,310,418) 0.77 12/31/2029 - 4,100,013 4,100,013 - 4,100,013 2,118,467 (1,981,546) 0.83 12/31/2030 - 4,100,013 4,100,013 - 4,100,013 2,553,571 (1,546,442) 0.87 12/31/2031 - 4,100,013 4,100,013 - 4,100,013 2,842,027 (1,257,985) 0.89 12/31/2032 - 4,100,013 4,100,013 - 4,100,013 3,139,136 (960,876) 0.92 12/31/2033 - 4,100,013 4,100,013 - 4,100,013 3,445,160 (654,852) 0.94 12/31/2034 - 4,100,013 4,100,013 - 4,100,013 3,760,364 (339,649) 0.97 12/31/2035 - 4,100,013 4,100,013 - 4,100,013 4,085,023 (14,989) 1.00 12/31/2036 - 4,100,013 4,100,013 - 4,100,013 4,419,423 319,410 1.03 12/31/2037 - 4,100,013 4,100,013 - 4,100,013 4,763,855 663,843 1.06 12/31/2038 - 4,100,013 4,100,013 - 4,100,013 5,118,619 1,018,607 1.09 12/31/2039 - 4,100,013 4,100,013 - 4,100,013 5,484,027 1,384,015 1.12 12/31/2040 40,000 4,100,013 4,140,013 - 4,140,013 5,860,397 1,720,384 1.15 12/31/2041 165,000 4,097,913 4,262,913 - 4,262,913 6,248,057 1,985,145 1.17 12/31/2042 300,000 4,089,250 4,389,250 - 4,389,250 6,622,348 2,233,098 1.19 12/31/2043 450,000 4,073,500 4,523,500 - 4,523,500 6,820,148 2,296,648 1.19 12/31/2044 610,000 4,049,875 4,659,875 - 4,659,875 7,028,456 2,368,581 1.19 12/31/2045 780,000 4,017,850 4,797,850 - 4,797,850 7,238,560 2,440,710 1.19 12/31/2046 965,000 3,976,900 4,941,900 - 4,941,900 7,457,371 2,515,471 1.19 12/31/2047 1,165,000 3,926,238 5,091,238 - 5,091,238 7,677,758 2,586,520 1.19 12/31/2048 1,380,000 3,865,075 5,245,075 - 5,245,075 7,911,095 2,666,020 1.19 12/31/2049 1,610,000 3,792,625 5,402,625 - 5,402,625 8,149,046 2,746,421 1.19 12/31/2050 1,855,000 3,708,100 5,563,100 - 5,563,100 8,388,918 2,825,818 1.19 12/31/2051 2,120,000 3,610,713 5,730,713 - 5,730,713 8,643,339 2,912,627 1.19 12/31/2052 2,395,000 3,504,713 5,899,713 - 5,899,713 8,904,328 3,004,616 1.19 12/31/2053 2,695,000 3,384,963 6,079,963 - 6,079,963 9,169,539 3,089,577 1.19 12/31/2054 3,010,000 3,250,213 6,260,213 - 6,260,213 9,446,957 3,186,745 1.19 12/31/2055 3,350,000 3,099,713 6,449,713 - 6,449,713 9,729,267 3,279,554 1.19 12/31/2056 3,710,000 2,932,213 6,642,213 - 6,642,213 10,019,792 3,377,580 1.19 12/31/2057 4,125,000 2,718,888 6,843,888 - 6,843,888 10,318,674 3,474,787 1.19 12/31/2058 4,565,000 2,481,700 7,046,700 - 7,046,700 10,628,931 3,582,231 1.19 12/31/2059 5,040,000 2,219,213 7,259,213 - 7,259,213 10,949,310 3,690,097 1.19 12/31/2060 5,545,000 1,929,413 7,474,413 - 7,474,413 11,278,894 3,804,482 1.19 12/31/2061 6,090,000 1,610,575 7,700,575 - 7,700,575 11,617,103 3,916,528 1.19 12/31/2062 6,670,000 1,260,400 7,930,400 - 7,930,400 11,963,691 4,033,291 1.19 12/31/2063 7,295,000 876,875 8,171,875 - 8,171,875 12,323,752 4,151,877 1.19 12/31/2064 7,955,000 457,413 8,412,413 - 8,412,413 12,694,397 4,281,984 1.19 Total:73,885,000 135,926,461 209,811,461 11,741,980 198,069,481 269,559,388 71,489,907 Projected $8.1M out-of-pocket exposure Preliminary; subject to change. Base Case (Current Rates) – Projected Net Debt Service Graph (COPs) 206 pipersandler.com | 13 Preliminary; subject to change. $80M COP (Current Rates + 28 bps) – Projected Net Debt Service Graph (Revenue Bonds) Period Principal Interest Gross Debt Service DSRF Requirement Released Capitalized Interest Net Debt Service NOI (3.0% Growth) Before R&R Less: Deposit to R&R Reserve Plus: DSRF Interest Earnings (@3.75%) Net Cash Flow Avail. For Debt Service Debt Service Coverage Ratio 12/31/2025 - 2,721,230 2,721,230 - 2,721,230 - - - - - - 12/31/2026 - 7,478,189 7,478,189 - 7,478,189 - - - - - - 12/31/2027 - 7,478,189 7,478,189 - 7,478,189 - - - - - - 12/31/2028 - 7,478,189 7,478,189 - 3,739,095 3,739,095 3,042,404 42,707 1,423,934 4,423,631 1.18 12/31/2029 - 7,478,189 7,478,189 - - 7,478,189 9,254,592 74,494 423,300 9,603,398 1.28 12/31/2030 - 7,478,189 7,478,189 - - 7,478,189 9,691,931 76,729 423,300 10,038,502 1.34 12/31/2031 - 7,478,189 7,478,189 - - 7,478,189 9,982,689 79,031 423,300 10,326,958 1.38 12/31/2032 - 7,478,189 7,478,189 - - 7,478,189 10,282,169 81,402 423,300 10,624,067 1.42 12/31/2033 - 7,478,189 7,478,189 - - 7,478,189 10,590,635 83,844 423,300 10,930,091 1.46 12/31/2034 - 7,478,189 7,478,189 - - 7,478,189 10,908,354 86,359 423,300 11,245,295 1.50 12/31/2035 - 7,478,189 7,478,189 - - 7,478,189 11,235,604 88,950 423,300 11,569,954 1.55 12/31/2036 - 7,478,189 7,478,189 - - 7,478,189 11,572,672 91,618 423,300 11,904,354 1.59 12/31/2037 - 7,478,189 7,478,189 - - 7,478,189 11,919,853 94,367 423,300 12,248,786 1.64 12/31/2038 - 7,478,189 7,478,189 - - 7,478,189 12,277,448 97,198 423,300 12,603,550 1.69 12/31/2039 - 7,478,189 7,478,189 - - 7,478,189 12,645,772 100,114 423,300 12,968,958 1.73 12/31/2040 - 7,478,189 7,478,189 - - 7,478,189 13,025,145 103,117 423,300 13,345,328 1.78 12/31/2041 - 7,478,189 7,478,189 - - 7,478,189 13,415,899 106,211 423,300 13,732,988 1.84 12/31/2042 - 7,478,189 7,478,189 - - 7,478,189 13,818,376 109,397 423,300 14,132,279 1.89 12/31/2043 115,000 7,478,189 7,593,189 - - 7,593,189 14,232,927 112,679 423,300 14,543,548 1.92 12/31/2044 340,000 7,470,823 7,810,823 - - 7,810,823 14,659,915 116,059 423,300 14,967,156 1.92 12/31/2045 580,000 7,449,046 8,029,046 - - 8,029,046 15,099,713 119,541 423,300 15,403,472 1.92 12/31/2046 850,000 7,411,897 8,261,897 - - 8,261,897 15,552,704 123,127 423,300 15,852,877 1.92 12/31/2047 1,140,000 7,356,392 8,496,392 - - 8,496,392 16,019,285 126,821 423,300 16,315,764 1.92 12/31/2048 1,455,000 7,281,950 8,736,950 - - 8,736,950 16,499,864 130,626 423,300 16,792,538 1.92 12/31/2049 1,800,000 7,186,939 8,986,939 - - 8,986,939 16,994,859 134,544 423,300 17,283,615 1.92 12/31/2050 2,175,000 7,069,399 9,244,399 - - 9,244,399 17,504,705 138,581 423,300 17,789,424 1.92 12/31/2051 2,580,000 6,927,371 9,507,371 - - 9,507,371 18,029,846 142,738 423,300 18,310,408 1.93 12/31/2052 3,020,000 6,758,897 9,778,897 - - 9,778,897 18,570,742 147,020 423,300 18,847,022 1.93 12/31/2053 3,500,000 6,561,691 10,061,691 - - 10,061,691 19,127,864 151,431 423,300 19,399,733 1.93 12/31/2054 4,015,000 6,333,141 10,348,141 - - 10,348,141 19,701,700 155,974 423,300 19,969,026 1.93 12/31/2055 4,575,000 6,070,962 10,645,962 - - 10,645,962 20,292,751 160,653 423,300 20,555,398 1.93 12/31/2056 5,185,000 5,772,214 10,957,214 - - 10,957,214 20,901,534 165,473 423,300 21,159,361 1.93 12/31/2057 5,845,000 5,427,153 11,272,153 - - 11,272,153 21,528,580 170,437 423,300 21,781,443 1.93 12/31/2058 6,560,000 5,038,168 11,598,168 - - 11,598,168 22,174,437 175,550 423,300 22,422,187 1.93 12/31/2059 7,330,000 4,601,600 11,931,600 - - 11,931,600 22,839,670 180,816 423,300 23,082,154 1.93 12/31/2060 8,160,000 4,113,788 12,273,788 - - 12,273,788 23,524,860 186,241 423,300 23,761,919 1.94 12/31/2061 9,060,000 3,570,740 12,630,740 - - 12,630,740 24,230,606 191,828 423,300 24,462,078 1.94 12/31/2062 10,030,000 2,967,797 12,997,797 - - 12,997,797 24,957,524 197,583 423,300 25,183,241 1.94 12/31/2063 11,075,000 2,300,301 13,375,301 - - 13,375,301 25,706,250 203,510 423,300 25,926,039 1.94 12/31/2064 23,490,000 1,563,260 25,053,260 11,288,000 - 13,765,260 26,477,437 209,616 423,300 26,691,122 1.94 Total:112,880,000 256,562,162 369,442,162 11,288,000 21,416,702 336,737,459 598,291,315 4,756,381 16,662,734 610,197,668 207 pipersandler.com | 14 Period Principal Interest Gross COP Debt Service Capitalized Interest Net COP Debt Service Residual Net Cash Flow (Deficit) / Surplus Combined NOI Coverage 12/31/2025 - 1,698,893 1,698,893 1,698,893 - - - - 12/31/2026 - 4,668,713 4,668,713 4,668,713 - - - - 12/31/2027 - 4,668,713 4,668,713 4,668,713 - - - - 12/31/2028 - 4,668,713 4,668,713 2,334,356 2,334,356 684,536 (1,649,820) 0.73 12/31/2029 - 4,668,713 4,668,713 - 4,668,713 2,125,209 (2,543,503) 0.79 12/31/2030 - 4,668,713 4,668,713 - 4,668,713 2,560,313 (2,108,399) 0.83 12/31/2031 - 4,668,713 4,668,713 - 4,668,713 2,848,769 (1,819,943) 0.85 12/31/2032 - 4,668,713 4,668,713 - 4,668,713 3,145,878 (1,522,834) 0.87 12/31/2033 - 4,668,713 4,668,713 - 4,668,713 3,451,902 (1,216,810) 0.90 12/31/2034 - 4,668,713 4,668,713 - 4,668,713 3,767,106 (901,606) 0.93 12/31/2035 - 4,668,713 4,668,713 - 4,668,713 4,091,765 (576,947) 0.95 12/31/2036 - 4,668,713 4,668,713 - 4,668,713 4,426,165 (242,548) 0.98 12/31/2037 - 4,668,713 4,668,713 - 4,668,713 4,770,597 101,885 1.01 12/31/2038 - 4,668,713 4,668,713 - 4,668,713 5,125,361 456,649 1.04 12/31/2039 - 4,668,713 4,668,713 - 4,668,713 5,490,769 822,057 1.07 12/31/2040 - 4,668,713 4,668,713 - 4,668,713 5,867,139 1,198,426 1.10 12/31/2041 90,000 4,668,713 4,758,713 - 4,758,713 6,254,799 1,496,087 1.12 12/31/2042 240,000 4,663,736 4,903,736 - 4,903,736 6,654,090 1,750,355 1.14 12/31/2043 400,000 4,650,464 5,050,464 - 5,050,464 6,950,359 1,899,896 1.15 12/31/2044 575,000 4,628,344 5,203,344 - 5,203,344 7,156,333 1,952,989 1.15 12/31/2045 760,000 4,596,546 5,356,546 - 5,356,546 7,374,426 2,017,880 1.15 12/31/2046 965,000 4,554,518 5,519,518 - 5,519,518 7,590,980 2,071,462 1.15 12/31/2047 1,185,000 4,501,154 5,686,154 - 5,686,154 7,819,372 2,133,218 1.15 12/31/2048 1,420,000 4,435,623 5,855,623 - 5,855,623 8,055,588 2,199,965 1.15 12/31/2049 1,675,000 4,357,097 6,032,097 - 6,032,097 8,296,676 2,264,579 1.15 12/31/2050 1,945,000 4,264,470 6,209,470 - 6,209,470 8,545,026 2,335,556 1.15 12/31/2051 2,240,000 4,156,911 6,396,911 - 6,396,911 8,803,037 2,406,126 1.15 12/31/2052 2,550,000 4,038,639 6,588,639 - 6,588,639 9,068,125 2,479,486 1.15 12/31/2053 2,885,000 3,903,999 6,788,999 - 6,788,999 9,338,042 2,549,043 1.15 12/31/2054 3,240,000 3,751,671 6,991,671 - 6,991,671 9,620,885 2,629,214 1.15 12/31/2055 3,620,000 3,580,599 7,200,599 - 7,200,599 9,909,436 2,708,837 1.15 12/31/2056 4,025,000 3,389,463 7,414,463 - 7,414,463 10,202,147 2,787,684 1.15 12/31/2057 4,490,000 3,146,756 7,636,756 - 7,636,756 10,509,290 2,872,535 1.15 12/31/2058 4,990,000 2,876,009 7,866,009 - 7,866,009 10,824,019 2,958,011 1.15 12/31/2059 5,530,000 2,575,112 8,105,112 - 8,105,112 11,150,554 3,045,442 1.15 12/31/2060 6,105,000 2,241,653 8,346,653 - 8,346,653 11,488,131 3,141,479 1.15 12/31/2061 6,725,000 1,873,521 8,598,521 - 8,598,521 11,831,338 3,232,817 1.15 12/31/2062 7,385,000 1,468,004 8,853,004 - 8,853,004 12,185,444 3,332,440 1.15 12/31/2063 8,100,000 1,022,688 9,122,688 - 9,122,688 12,550,739 3,428,051 1.15 12/31/2064 8,860,000 534,258 9,394,258 - 9,394,258 12,925,862 3,531,604 1.15 Total:80,000,000 155,609,523 235,609,523 13,370,674 222,238,849 273,460,209 51,221,360 Projected $12.6M out-of-pocket exposure Preliminary; subject to change. $80M COP (Current Rates + 28 bps) – Projected Net Debt Service Graph (COPs) 208 pipersandler.com | 15 Preliminary; subject to change. $85M COP (Current Rates + 53 bps) – Projected Net Debt Service Graph (Revenue Bonds) Period Principal Interest Gross Debt Service DSRF Requirement Released Capitalized Interest Net Debt Service NOI (3.0% Growth) Before R&R Less: Deposit to R&R Reserve Plus: DSRF Interest Earnings (@3.75%) Net Cash Flow Avail. For Debt Service Debt Service Coverage Ratio 12/31/2025 - 2,717,525 2,717,525 - 2,717,525 - - - - - - 12/31/2026 - 7,468,007 7,468,007 - 7,468,007 - - - - - - 12/31/2027 - 7,468,007 7,468,007 - 7,468,007 - - - - - - 12/31/2028 - 7,468,007 7,468,007 - 3,734,003 3,734,003 3,042,404 42,707 1,370,007 4,369,703 1.17 12/31/2029 - 7,468,007 7,468,007 - - 7,468,007 9,254,592 74,494 407,269 9,587,367 1.28 12/31/2030 - 7,468,007 7,468,007 - - 7,468,007 9,691,931 76,729 407,269 10,022,471 1.34 12/31/2031 - 7,468,007 7,468,007 - - 7,468,007 9,982,689 79,031 407,269 10,310,927 1.38 12/31/2032 - 7,468,007 7,468,007 - - 7,468,007 10,282,169 81,402 407,269 10,608,036 1.42 12/31/2033 - 7,468,007 7,468,007 - - 7,468,007 10,590,635 83,844 407,269 10,914,060 1.46 12/31/2034 - 7,468,007 7,468,007 - - 7,468,007 10,908,354 86,359 407,269 11,229,264 1.50 12/31/2035 - 7,468,007 7,468,007 - - 7,468,007 11,235,604 88,950 407,269 11,553,923 1.55 12/31/2036 - 7,468,007 7,468,007 - - 7,468,007 11,572,672 91,618 407,269 11,888,323 1.59 12/31/2037 - 7,468,007 7,468,007 - - 7,468,007 11,919,853 94,367 407,269 12,232,755 1.64 12/31/2038 - 7,468,007 7,468,007 - - 7,468,007 12,277,448 97,198 407,269 12,587,519 1.69 12/31/2039 - 7,468,007 7,468,007 - - 7,468,007 12,645,772 100,114 407,269 12,952,927 1.73 12/31/2040 - 7,468,007 7,468,007 - - 7,468,007 13,025,145 103,117 407,269 13,329,297 1.78 12/31/2041 - 7,468,007 7,468,007 - - 7,468,007 13,415,899 106,211 407,269 13,716,957 1.84 12/31/2042 - 7,468,007 7,468,007 - - 7,468,007 13,818,376 109,397 407,269 14,116,248 1.89 12/31/2043 20,000 7,468,007 7,488,007 - - 7,488,007 14,232,927 112,679 407,269 14,527,517 1.94 12/31/2044 235,000 7,466,676 7,701,676 - - 7,701,676 14,659,915 116,059 407,269 14,951,125 1.94 12/31/2045 470,000 7,451,036 7,921,036 - - 7,921,036 15,099,713 119,541 407,269 15,387,441 1.94 12/31/2046 725,000 7,419,758 8,144,758 - - 8,144,758 15,552,704 123,127 407,269 15,836,846 1.94 12/31/2047 1,005,000 7,370,603 8,375,603 - - 8,375,603 16,019,285 126,821 407,269 16,299,733 1.95 12/31/2048 1,315,000 7,302,464 8,617,464 - - 8,617,464 16,499,864 130,626 407,269 16,776,507 1.95 12/31/2049 1,650,000 7,213,307 8,863,307 - - 8,863,307 16,994,859 134,544 407,269 17,267,583 1.95 12/31/2050 2,015,000 7,101,437 9,116,437 - - 9,116,437 17,504,705 138,581 407,269 17,773,393 1.95 12/31/2051 2,410,000 6,964,820 9,374,820 - - 9,374,820 18,029,846 142,738 407,269 18,294,377 1.95 12/31/2052 2,845,000 6,801,422 9,646,422 - - 9,646,422 18,570,742 147,020 407,269 18,830,991 1.95 12/31/2053 3,315,000 6,608,531 9,923,531 - - 9,923,531 19,127,864 151,431 407,269 19,383,702 1.95 12/31/2054 3,825,000 6,383,774 10,208,774 - - 10,208,774 19,701,700 155,974 407,269 19,952,995 1.95 12/31/2055 4,380,000 6,124,439 10,504,439 - - 10,504,439 20,292,751 160,653 407,269 20,539,367 1.96 12/31/2056 4,975,000 5,827,475 10,802,475 - - 10,802,475 20,901,534 165,473 407,269 21,143,330 1.96 12/31/2057 5,635,000 5,483,951 11,118,951 - - 11,118,951 21,528,580 170,437 407,269 21,765,412 1.96 12/31/2058 6,345,000 5,094,854 11,439,854 - - 11,439,854 22,174,437 175,550 407,269 22,406,156 1.96 12/31/2059 7,110,000 4,656,732 11,766,732 - - 11,766,732 22,839,670 180,816 407,269 23,066,122 1.96 12/31/2060 7,945,000 4,165,787 12,110,787 - - 12,110,787 23,524,860 186,241 407,269 23,745,888 1.96 12/31/2061 8,845,000 3,617,184 12,462,184 - - 12,462,184 24,230,606 191,828 407,269 24,446,047 1.96 12/31/2062 9,815,000 3,006,437 12,821,437 - - 12,821,437 24,957,524 197,583 407,269 25,167,210 1.96 12/31/2063 10,865,000 2,328,711 13,193,711 - - 13,193,711 25,706,250 203,510 407,269 25,910,008 1.96 12/31/2064 22,860,000 1,578,483 24,438,483 10,860,500 - 13,577,983 26,477,437 209,616 407,269 26,675,090 1.96 Total:108,605,000 257,109,520 365,714,520 10,860,500 21,387,541 333,466,479 598,291,315 4,756,381 16,031,682 609,566,616 209 pipersandler.com | 16 Period Principal Interest Gross COP Debt Service Capitalized Interest Net COP Debt Service Residual Net Cash Flow (Deficit) / Surplus Combined NOI Coverage 12/31/2025 - 1,884,239 1,884,239 1,884,239 - - - - 12/31/2026 - 5,178,063 5,178,063 5,178,063 - - - - 12/31/2027 - 5,178,063 5,178,063 5,178,063 - - - - 12/31/2028 - 5,178,063 5,178,063 2,589,031 2,589,031 635,700 (1,953,331) 0.69 12/31/2029 - 5,178,063 5,178,063 - 5,178,063 2,119,360 (3,058,702) 0.76 12/31/2030 - 5,178,063 5,178,063 - 5,178,063 2,554,465 (2,623,598) 0.79 12/31/2031 - 5,178,063 5,178,063 - 5,178,063 2,842,921 (2,335,142) 0.82 12/31/2032 - 5,178,063 5,178,063 - 5,178,063 3,140,030 (2,038,033) 0.84 12/31/2033 - 5,178,063 5,178,063 - 5,178,063 3,446,054 (1,732,009) 0.86 12/31/2034 - 5,178,063 5,178,063 - 5,178,063 3,761,257 (1,416,805) 0.89 12/31/2035 - 5,178,063 5,178,063 - 5,178,063 4,085,917 (1,092,146) 0.91 12/31/2036 - 5,178,063 5,178,063 - 5,178,063 4,420,316 (757,746) 0.94 12/31/2037 - 5,178,063 5,178,063 - 5,178,063 4,764,749 (413,314) 0.97 12/31/2038 - 5,178,063 5,178,063 - 5,178,063 5,119,513 (58,550) 1.00 12/31/2039 - 5,178,063 5,178,063 - 5,178,063 5,484,921 306,858 1.02 12/31/2040 - 5,178,063 5,178,063 - 5,178,063 5,861,290 683,228 1.05 12/31/2041 15,000 5,178,063 5,193,063 - 5,193,063 6,248,951 1,055,888 1.08 12/31/2042 175,000 5,177,196 5,352,196 - 5,352,196 6,648,241 1,296,046 1.10 12/31/2043 345,000 5,167,081 5,512,081 - 5,512,081 7,039,511 1,527,430 1.12 12/31/2044 530,000 5,147,140 5,677,140 - 5,677,140 7,249,449 1,572,310 1.12 12/31/2045 730,000 5,116,506 5,846,506 - 5,846,506 7,466,405 1,619,899 1.12 12/31/2046 945,000 5,074,312 6,019,312 - 6,019,312 7,692,088 1,672,776 1.12 12/31/2047 1,180,000 5,019,691 6,199,691 - 6,199,691 7,924,130 1,724,440 1.12 12/31/2048 1,435,000 4,951,487 6,386,487 - 6,386,487 8,159,043 1,772,557 1.12 12/31/2049 1,710,000 4,868,544 6,578,544 - 6,578,544 8,404,277 1,825,733 1.12 12/31/2050 2,010,000 4,769,706 6,779,706 - 6,779,706 8,656,956 1,877,251 1.12 12/31/2051 2,325,000 4,653,528 6,978,528 - 6,978,528 8,919,557 1,941,029 1.12 12/31/2052 2,665,000 4,524,955 7,189,955 - 7,189,955 9,184,569 1,994,614 1.12 12/31/2053 3,030,000 4,377,581 7,407,581 - 7,407,581 9,460,171 2,052,591 1.12 12/31/2054 3,420,000 4,210,022 7,630,022 - 7,630,022 9,744,221 2,114,200 1.12 12/31/2055 3,835,000 4,020,896 7,855,896 - 7,855,896 10,034,928 2,179,033 1.12 12/31/2056 4,285,000 3,808,820 8,093,820 - 8,093,820 10,340,855 2,247,035 1.12 12/31/2057 4,795,000 3,539,722 8,334,722 - 8,334,722 10,646,461 2,311,739 1.12 12/31/2058 5,345,000 3,238,596 8,583,596 - 8,583,596 10,966,302 2,382,706 1.12 12/31/2059 5,940,000 2,902,930 8,842,930 - 8,842,930 11,299,390 2,456,460 1.12 12/31/2060 6,580,000 2,529,898 9,109,898 - 9,109,898 11,635,102 2,525,204 1.12 12/31/2061 7,265,000 2,116,674 9,381,674 - 9,381,674 11,983,862 2,602,188 1.12 12/31/2062 8,000,000 1,660,432 9,660,432 - 9,660,432 12,345,773 2,685,341 1.12 12/31/2063 8,795,000 1,158,032 9,953,032 - 9,953,032 12,716,297 2,763,265 1.12 12/31/2064 9,645,000 605,706 10,250,706 - 10,250,706 13,097,107 2,846,401 1.12 Total:85,000,000 173,372,688 258,372,688 14,829,396 243,543,292 276,100,137 32,556,845 Projected $17.5M out-of-pocket exposure Preliminary; subject to change. $85M COP (Current Rates + 53 bps) – Projected Net Debt Service Graph (COPs) 210 pipersandler.com | 17 Preliminary; subject to change. $90M COP (Current Rates + 79 bps) – Projected Net Debt Service Graph (Revenue Bonds) Period Principal Interest Gross Debt Service DSRF Requirement Released Capitalized Interest Net Debt Service NOI (3.0% Growth) Before R&R Less: Deposit to R&R Reserve Plus: DSRF Interest Earnings (@3.75%) Net Cash Flow Avail. For Debt Service Debt Service Coverage Ratio 12/31/2025 - 2,712,233 2,712,233 - 2,712,233 - - - - - - 12/31/2026 - 7,453,464 7,453,464 - 7,453,464 - - - - - - 12/31/2027 - 7,453,464 7,453,464 - 7,453,464 - - - - - - 12/31/2028 - 7,453,464 7,453,464 - 3,726,732 3,726,732 3,042,404 42,707 1,317,278 4,316,974 1.16 12/31/2029 - 7,453,464 7,453,464 - - 7,453,464 9,254,592 74,494 391,594 9,571,692 1.28 12/31/2030 - 7,453,464 7,453,464 - - 7,453,464 9,691,931 76,729 391,594 10,006,796 1.34 12/31/2031 - 7,453,464 7,453,464 - - 7,453,464 9,982,689 79,031 391,594 10,295,252 1.38 12/31/2032 - 7,453,464 7,453,464 - - 7,453,464 10,282,169 81,402 391,594 10,592,361 1.42 12/31/2033 - 7,453,464 7,453,464 - - 7,453,464 10,590,635 83,844 391,594 10,898,385 1.46 12/31/2034 - 7,453,464 7,453,464 - - 7,453,464 10,908,354 86,359 391,594 11,213,589 1.50 12/31/2035 - 7,453,464 7,453,464 - - 7,453,464 11,235,604 88,950 391,594 11,538,248 1.55 12/31/2036 - 7,453,464 7,453,464 - - 7,453,464 11,572,672 91,618 391,594 11,872,648 1.59 12/31/2037 - 7,453,464 7,453,464 - - 7,453,464 11,919,853 94,367 391,594 12,217,080 1.64 12/31/2038 - 7,453,464 7,453,464 - - 7,453,464 12,277,448 97,198 391,594 12,571,844 1.69 12/31/2039 - 7,453,464 7,453,464 - - 7,453,464 12,645,772 100,114 391,594 12,937,252 1.74 12/31/2040 - 7,453,464 7,453,464 - - 7,453,464 13,025,145 103,117 391,594 13,313,622 1.79 12/31/2041 - 7,453,464 7,453,464 - - 7,453,464 13,415,899 106,211 391,594 13,701,282 1.84 12/31/2042 - 7,453,464 7,453,464 - - 7,453,464 13,818,376 109,397 391,594 14,100,573 1.89 12/31/2043 - 7,453,464 7,453,464 - - 7,453,464 14,232,927 112,679 391,594 14,511,842 1.95 12/31/2044 135,000 7,453,464 7,588,464 - - 7,588,464 14,659,915 116,059 391,594 14,935,450 1.97 12/31/2045 360,000 7,444,129 7,804,129 - - 7,804,129 15,099,713 119,541 391,594 15,371,766 1.97 12/31/2046 605,000 7,419,235 8,024,235 - - 8,024,235 15,552,704 123,127 391,594 15,821,171 1.97 12/31/2047 880,000 7,376,643 8,256,643 - - 8,256,643 16,019,285 126,821 391,594 16,284,058 1.97 12/31/2048 1,175,000 7,314,691 8,489,691 - - 8,489,691 16,499,864 130,626 391,594 16,760,832 1.97 12/31/2049 1,500,000 7,231,971 8,731,971 - - 8,731,971 16,994,859 134,544 391,594 17,251,908 1.98 12/31/2050 1,860,000 7,126,371 8,986,371 - - 8,986,371 17,504,705 138,581 391,594 17,757,718 1.98 12/31/2051 2,245,000 6,995,427 9,240,427 - - 9,240,427 18,029,846 142,738 391,594 18,278,702 1.98 12/31/2052 2,670,000 6,837,379 9,507,379 - - 9,507,379 18,570,742 147,020 391,594 18,815,316 1.98 12/31/2053 3,130,000 6,649,411 9,779,411 - - 9,779,411 19,127,864 151,431 391,594 19,368,027 1.98 12/31/2054 3,635,000 6,429,059 10,064,059 - - 10,064,059 19,701,700 155,974 391,594 19,937,320 1.98 12/31/2055 4,180,000 6,173,155 10,353,155 - - 10,353,155 20,292,751 160,653 391,594 20,523,692 1.98 12/31/2056 4,770,000 5,878,883 10,648,883 - - 10,648,883 20,901,534 165,473 391,594 21,127,655 1.98 12/31/2057 5,420,000 5,537,112 10,957,112 - - 10,957,112 21,528,580 170,437 391,594 21,749,737 1.98 12/31/2058 6,125,000 5,148,769 11,273,769 - - 11,273,769 22,174,437 175,550 391,594 22,390,481 1.99 12/31/2059 6,895,000 4,709,913 11,604,913 - - 11,604,913 22,839,670 180,816 391,594 23,050,447 1.99 12/31/2060 7,725,000 4,215,886 11,940,886 - - 11,940,886 23,524,860 186,241 391,594 23,730,213 1.99 12/31/2061 8,625,000 3,662,390 12,287,390 - - 12,287,390 24,230,606 191,828 391,594 24,430,372 1.99 12/31/2062 9,600,000 3,044,409 12,644,409 - - 12,644,409 24,957,524 197,583 391,594 25,151,535 1.99 12/31/2063 10,655,000 2,356,569 13,011,569 - - 13,011,569 25,706,250 203,510 391,594 25,894,333 1.99 12/31/2064 22,235,000 1,593,138 23,828,138 10,442,500 - 13,385,638 26,477,437 209,616 391,594 26,659,415 1.99 Total:104,425,000 257,472,576 361,897,576 10,442,500 21,345,892 330,109,184 598,291,315 4,756,381 15,414,653 608,949,587 211 pipersandler.com | 18 Period Principal Interest Gross COP Debt Service Capitalized Interest Net COP Debt Service Residual Net Cash Flow (Deficit) / Surplus Combined NOI Coverage 12/31/2025 - 2,082,149 2,082,149 2,082,149 - - - - 12/31/2026 - 5,721,938 5,721,938 5,721,938 - - - - 12/31/2027 - 5,721,938 5,721,938 5,721,938 - - - - 12/31/2028 - 5,721,938 5,721,938 2,860,969 2,860,969 590,243 (2,270,726) 0.66 12/31/2029 - 5,721,938 5,721,938 - 5,721,938 2,118,228 (3,603,709) 0.73 12/31/2030 - 5,721,938 5,721,938 - 5,721,938 2,553,332 (3,168,605) 0.76 12/31/2031 - 5,721,938 5,721,938 - 5,721,938 2,841,788 (2,880,149) 0.78 12/31/2032 - 5,721,938 5,721,938 - 5,721,938 3,138,897 (2,583,040) 0.80 12/31/2033 - 5,721,938 5,721,938 - 5,721,938 3,444,921 (2,277,016) 0.83 12/31/2034 - 5,721,938 5,721,938 - 5,721,938 3,760,125 (1,961,812) 0.85 12/31/2035 - 5,721,938 5,721,938 - 5,721,938 4,084,784 (1,637,153) 0.88 12/31/2036 - 5,721,938 5,721,938 - 5,721,938 4,419,184 (1,302,754) 0.90 12/31/2037 - 5,721,938 5,721,938 - 5,721,938 4,763,616 (958,321) 0.93 12/31/2038 - 5,721,938 5,721,938 - 5,721,938 5,118,380 (603,557) 0.95 12/31/2039 - 5,721,938 5,721,938 - 5,721,938 5,483,788 (238,149) 0.98 12/31/2040 - 5,721,938 5,721,938 - 5,721,938 5,860,158 138,220 1.01 12/31/2041 - 5,721,938 5,721,938 - 5,721,938 6,247,818 525,881 1.04 12/31/2042 95,000 5,721,938 5,816,938 - 5,816,938 6,647,109 830,172 1.06 12/31/2043 275,000 5,716,200 5,991,200 - 5,991,200 7,058,378 1,067,179 1.08 12/31/2044 470,000 5,699,590 6,169,590 - 6,169,590 7,346,986 1,177,396 1.09 12/31/2045 685,000 5,671,202 6,356,202 - 6,356,202 7,567,637 1,211,436 1.09 12/31/2046 920,000 5,629,828 6,549,828 - 6,549,828 7,796,936 1,247,109 1.09 12/31/2047 1,170,000 5,574,260 6,744,260 - 6,744,260 8,027,415 1,283,156 1.09 12/31/2048 1,440,000 5,503,592 6,943,592 - 6,943,592 8,271,142 1,327,550 1.09 12/31/2049 1,740,000 5,416,616 7,156,616 - 7,156,616 8,519,938 1,363,322 1.09 12/31/2050 2,055,000 5,311,520 7,366,520 - 7,366,520 8,771,348 1,404,828 1.09 12/31/2051 2,405,000 5,187,398 7,592,398 - 7,592,398 9,038,275 1,445,878 1.09 12/31/2052 2,770,000 5,048,148 7,818,148 - 7,818,148 9,307,937 1,489,789 1.09 12/31/2053 3,165,000 4,887,765 8,052,765 - 8,052,765 9,588,616 1,535,851 1.09 12/31/2054 3,590,000 4,704,512 8,294,512 - 8,294,512 9,873,262 1,578,750 1.09 12/31/2055 4,045,000 4,496,651 8,541,651 - 8,541,651 10,170,537 1,628,887 1.09 12/31/2056 4,535,000 4,262,445 8,797,445 - 8,797,445 10,478,772 1,681,327 1.09 12/31/2057 5,095,000 3,965,856 9,060,856 - 9,060,856 10,792,625 1,731,769 1.09 12/31/2058 5,700,000 3,632,643 9,332,643 - 9,332,643 11,116,712 1,784,069 1.09 12/31/2059 6,355,000 3,259,863 9,614,863 - 9,614,863 11,445,535 1,830,672 1.09 12/31/2060 7,060,000 2,844,246 9,904,246 - 9,904,246 11,789,327 1,885,081 1.09 12/31/2061 7,820,000 2,382,522 10,202,522 - 10,202,522 12,142,982 1,940,460 1.09 12/31/2062 8,635,000 1,871,094 10,506,094 - 10,506,094 12,507,126 2,001,032 1.09 12/31/2063 9,515,000 1,306,365 10,821,365 - 10,821,365 12,882,765 2,061,400 1.09 12/31/2064 10,460,000 684,084 11,144,084 - 11,144,084 13,273,778 2,129,694 1.09 Total:90,000,000 192,411,481 282,411,481 16,386,993 266,024,488 278,840,403 12,815,915 Projected $23.5M out-of-pocket exposure Preliminary; subject to change. $90M COP (Current Rates + 79 bps) – Projected Net Debt Service Graph (COPs) 212 pipersandler.com | 19 Disclosure Piper Sandler is providing the information contained herein for discussion purposes only in anticipation of being engaged to serve as underwriter or placement agent on a future transaction and not as a financial advisor or municipal advisor. 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Information about interest rates and terms for SLGs is based on current publicly available information and treasury or agency rates for open-market escrows are based on current market interest rates for these types of credits and should not be seen as costs or rates that Piper Sandler could achieve for you should we be selected to act as your underwriter or placement agent. More particularized information and analysis may be provided after you have engaged Piper Sandler as an underwriter or placement agent or under certain other exceptions as describe in the Section 15B of the Exchange Act. Piper Sandler Companies (NYSE: PIPR) is a leading investment bank and institutional securities firm driven to help clients Realize the Power of Partnership®. Securities brokerage and investment banking services are offered in the U.S. through Piper Sandler & Co., member SIPC and FINRA; in Europe through Piper Sandler Ltd., authorized and regulated by the U.K. Financial Conduct Authority; and in Hong Kong through Piper Sandler Hong Kong Ltd., authorized and regulated by the Securities and Futures Commission. Asset management products and services are offered through separate investment advisory affiliates. © 2025 Piper Sandler Companies. 800 Nicollet Mall, Minneapolis, Minnesota 55402-7036 213 AGENDA ITEM NO. 6.4 Item Cover Page DATE:April 15, 2025 SUBMITTED BY:Carlie Smith, Finance ITEM TYPE:Resolution AGENDA SECTION:Action Items (6:15pm) SUBJECT:Resolution No. 20, Series of 2025, A Resolution Approving the Deed Restriction for West Middle Creek (7:00pm) SUGGESTED ACTION:Approve, approve with amendments, or deny Resolution No. 20, Series of 2025. PRESENTER(S):Carlie Smith, Finance Director and Jason Dietz, Housing Director VAIL TOWN COUNCIL AGENDA ITEM REPORT ATTACHMENTS: Council Memo - WMC Deed Restriction Attachment A. Resolution No. 20 WMC Deed Restriction Attachment B. Deed Restriction 214 75 South Frontage Road West Housing Department Vail, Colorado 81657 970.479.2150 vailgov.com MEMORANDUM To: Vail Town Council From:Jason Dietz, Housing Director Date: April 15, 2025 Re: West Middle Creek Deed Restriction Approval I.Summary The Town currently owns the property associated with the West Middle Creek development and intends transfer the land to the Vail Housing Partners Corporation “VHPC” to construct multifamily workforce rental housing. The Town and VHPC wish to permanently restrict the occupancy, use and resale of the property to ensure it is used for local workforce housing. II. Purpose The approval and recordation of the deed restriction by the Town and VHPC on the land will ensure that West Middle Creek is a deed restricted multifamily workforce housing rental development. The Development consist of 268 rental units in three buildings. The West Middle Creek Deed restriction is the same Type IV deed restriction that the Town used for the Residences at Main Vail. The VHPC will be responsible for managing, enforcing and ensuring that the terms of the deed restriction are met and reporting such to the Town. The VHPC is scheduled to act on the deed restriction at its next meeting scheduled on April 16, 2025. III. Recommendation Staff recommends Town Council approve the West Middle Creek deed restriction Resolution No. 20 Series 2025. 215 RESOLUTION NO. 20 Series of 2025 A RESOLUTION APPROVING THE DEED RESTRICTION FOR WEST MIDDLE CREEK WHEREAS, the Town of Vail is planning a development project for the West Middle Creek property; WHEREAS, the purpose of the development project is to provide workforce rental housing; WHEREAS, the Town Council wishes to approve the Deed Restriction in substantially the form attached hereto, and to authorize the Mayor and the Vail Home Partners Corporation to execute the Deed Restriction at closing. NOW THEREFORE, BE IT RESOLVED BYTHE TOWN COUNCIL OF THE TOWN OF VAIL, COLORADO, THAT: Section 1.The Town hereby approves the Deed Restriction on the West Middle Creek property in substantially the form attached hereto and incorporated herein by this reference, subject to final approval by the Town Attorney. Section 2.The Town Council hereby authorizes the Mayor and the Vail Home Partners Corporation to execute the Deed Restriction at closing. INTRODUCED, PASSED AND ADOPTED at a regular meeting of the Town Council of the Town of Vail held this 15th day of April, 2025. ________________________________ Travis Coggin, Mayor ATTEST: _________________________________ Stephanie Johnson, Acting Town Clerk 216 1 4/16/2025 C:\USERS\EASYPD~1\APPDATA\LOCAL\TEMP\BCL TECHNOLOGIES\EASYPDF 8\@BCL@580C4AD9\@BCL@580C4AD9.DOCX DEED RESTRICTION AGREEMENT (West Middle Creek) THIS DEED RESTRICTION AGREEMENT (the "Agreement") is entered into this _______ day of _______________, 20__ (the "Effective Date") by and between the Town of Vail, Colorado, a Colorado home rule municipality with an address of 75 South Frontage Road, Vail, CO 81657 (the "Town"), and Vail Home Partners Corporation, a Colorado corporation with an address of ___________________ ("VHPC") (each a "Party" and collectively the "Parties"). WHEREAS, VHPC owns the real property described as _____________ (the "Property") WHEREAS, the Town, VHPC and Corum Real Estate Group, Inc., a Colorado corporation are cooperatively developing the Property for a multifamily residential employee and market rate rental housing development; and WHEREAS, the Town and VHPC wish to permanently restrict the occupancy, use and resale of the Property. NOW, THEREFORE, for and in consideration of the mutual promises and covenants contained herein, the sufficiency of which is mutually acknowledged, the Parties agree as follows: 1.Property. All 268 residential dwelling units on the Property (each a "Unit") are hereby burdened with the covenants and restrictions specified in this Deed Restriction, in perpetuity. 2.Definitions. For purposes of this Agreement, the following terms shall have the following meanings: a.Guidelines means the current version of the West Middle Creek Employee Housing Guidelines adopted by the Town. The version adopted as of the Effective Date is attached hereto as Exhibit A and incorporated herein by this reference. b.Principal Place of Residence means the home or place in which one's habitation is fixed and to which one has a present intention of returning after a departure or absence therefrom. In determining what is a Principal Place of Residence, the Town shall consider the criteria set forth in C.R.S. § 31-10-201(3), as amended. c.Qualified Resident means an individual: i.Who works an average of 30 hours or more per week at a business in Eagle County, Colorado that holds a valid and current business license, or pays sales taxes, or is otherwise generally recognized as a legitimate business; and earns at least 75% of their income from such business; or ii.Was a Qualified Owner when the individual purchased the Property, but then retired while owning the Property, was 60 years of age or older at the time of 217 2 4/16/2025 C:\USERS\EASYPD~1\APPDATA\LOCAL\TEMP\BCL TECHNOLOGIES\EASYPDF 8\@BCL@580C4AD9\@BCL@580C4AD9.DOCX retirement; for the 5 years immediately prior to retirement, worked an average of 30 hours or more per week at a business in Eagle County that held a valid and current business license, or paid sales taxes, or was otherwise generally recognized as a legitimate business, and earned at least 75% of their income from such business during such 5-year period; and iii.Does not own any interest, in any capacity, in any developed residential property or dwelling unit located in Eagle County, Colorado. d.Transfer means any sale, conveyance, assignment or transfer, voluntary or involuntary, of any interest in the Property, including without limitation a fee simple interest, a joint tenancy interest, a life estate, a leasehold interest and an interest evidenced by any contract by which possession of the Property is transferred and an Owner retains title; provided that the lease of a room or rooms within the Property to a Qualified Tenant in accordance with this Agreement shall not constitute a Transfer. 3.Occupancy Restrictions. a.Each Restricted Unit shall be continuously occupied by at least one Qualified Resident as their principal place of residence. b.No business activity shall occur on or in the Property, other than as permitted within the zone district applicable to the Property. c.No later than February 1 st of each year, VHPC shall submit one copy of a sworn affidavit, on a form provided by the Town, verifying that every Restricted Unit is occupied in accordance with this Agreement and the Guidelines. 4.Transfer. a.VHPC shall first notify the Town if VHPC wishes to Transfer the Property. The Town shall have the first option to purchase the Property. b.Should the Town determine not to purchase the Property, VHPC shall sell the Property to a buyer who agrees to comply with this Deed Restriction. c.At closing, the buyer shall execute, in a form satisfactory to the Town and for recording with the Eagle County Clerk and Recorder, a document acknowledging this Deed Restriction and expressly agreeing to be bound by it. 5.Consensual Lien; Right to Redeem. For the purpose of securing performance under this Agreement and creating in favor of the Town a right to redeem in accordance with Part 3 of Article 38 of Title 38, C.R.S., as amended, VHPC hereby grants to Town a consensual lien on the Property. Such lien shall not have a lien amount. 6.Breach. a.It shall be a breach of this Agreement for VHPC, Corum or a Qualified Resident to violate any provision of this Agreement. 218 3 4/16/2025 C:\USERS\EASYPD~1\APPDATA\LOCAL\TEMP\BCL TECHNOLOGIES\EASYPDF 8\@BCL@580C4AD9\@BCL@580C4AD9.DOCX b.If the Town has reasonable cause to believe that a violation of this Agreement exists on the Property, the Town may inspect the Property between the hours of 8:00 a.m. and 5:00 p.m., Monday through Friday, after providing VHPC with 24 hours written notice. This Agreement shall constitute permission to enter the Property during such times upon such notice, provided that VHPC shall obtain the permission of the affected Qualified Resident prior to the Town entering into any Restricted Unit. c.If the Town discovers a violation of this Agreement, the Town shall notify VHPC, and allow 15 days to cure. 7.Remedies. a.Any Transfer in violation of this Agreement shall be wholly null and void and shall confer no title whatsoever upon the purported buyer. Each and every Transfer, for all purposes, shall be deemed to include and incorporate by this reference the covenants contained in this Agreement, even if the Transfer documents fail to reference this Agreement. b.The Town may pursue all available remedies for violations of this Agreement, including without limitation specific performance or a mandatory injunction requiring a Transfer of the Property, with the costs of such Transfer to be paid out of the proceeds of the sale. c.In addition to the specific remedies set forth herein, the Town shall have all other remedies available at law or equity, and the exercise of one remedy shall not preclude the exercise of any other remedy. 8.Foreclosure. a.Within 5 days of receipt, VHPC shall notify the Town, in writing, of any notification received from a lender of past due payments or defaults in payments or other obligations, any notice of foreclosure under the first deed of trust or any other subordinate security interest in the Property, or when any payment on any indebtedness encumbering the Property is required to avoid foreclosure of the first deed of trust or other subordinate security interest in the Property. b.Within 60 days after receipt of any notice described herein, the Town may (but shall not be obligated to) proceed to make any payment required to avoid foreclosure. Upon making any such payment, the Town shall place a lien on the Property in the amount paid to cure the default and avoid foreclosure, including all fees and costs resulting from such foreclosure. c.Notwithstanding any other provision of this Agreement, in the event of a foreclosure, acceptance of a deed-in-lieu of foreclosure, or assignment, this Agreement shall remain in full force and effect. d.The Town shall have 30 days after issuance of the public trustee's deed or the acceptance of a deed in lieu of foreclosure by the holder in which to purchase by tendering to the holder, in cash or certified funds, an amount equal to the redemption 219 4 4/16/2025 C:\USERS\EASYPD~1\APPDATA\LOCAL\TEMP\BCL TECHNOLOGIES\EASYPDF 8\@BCL@580C4AD9\@BCL@580C4AD9.DOCX price which would have been required of the borrower or any person who might be liable upon a deficiency on the last day of the statutory redemption period(s) and any additional reasonable costs incurred by the holder related to the foreclosure. 11.Miscellaneous. a.Modification. This Agreement may only be modified by subsequent written agreement of the Parties. b.Integration. This Agreement and any attached exhibits constitute the entire agreement among the Parties, superseding all prior oral or written communications. c.Binding Effect. This Agreement shall be binding upon and inure to the benefit of the Parties and their respective heirs, successors and assigns. d.Severability. If any provision of this Agreement 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. e.Governing Law and Venue. This Agreement shall be governed by the laws of the State of Colorado, and any legal action concerning the provisions hereof shall be brought in Eagle County, Colorado. f.Assignment. There shall be no transfer or assignment of any of the rights or obligations of VHPC under this Agreement without the prior written approval of the Town. g.Third Parties. There are no intended third-party beneficiaries to this Agreement. h.No Joint Venture. Notwithstanding any provision hereof, the Town shall never be a joint venture in any private entity or activity which participates in this Agreement, and the Town shall never be liable or responsible for any debt or obligation of any participant in this Agreement. i.Notice. Any notice under this Agreement shall be in writing, and shall be deemed sufficient when directly presented or sent pre-paid, first class United States Mail to the Party at the address set forth on the first page of this Agreement. j.Recording. This Agreement shall be recorded with the Eagle County Clerk and Recorder. The benefits and obligations of the Parties under this Agreement shall run with the land, and shall be binding on any subsequent holder of an interest in the Property. k.Savings Clause. If any of the terms, covenants, conditions, restrictions, uses, limitations, obligations or options created by this Agreement are held to be unlawful or void for violation of: the rule against perpetuities or some analogous statutory provision; the rule restricting restraints on alienation; or any other statutory or common law rules imposing like or similar time limits, then such provision shall continue only for 220 5 4/16/2025 C:\USERS\EASYPD~1\APPDATA\LOCAL\TEMP\BCL TECHNOLOGIES\EASYPDF 8\@BCL@580C4AD9\@BCL@580C4AD9.DOCX the period of the lives of the current duly elected and seated members of the Vail Town Council, their now living descendants, if any, and the survivor of them, plus 21 years. l.Responsibility. Any obligations of VHPC under this Agreement may be performed by VHPC’s duly authorized agent, including without limitation a property management company, provided that VHPC remains fully responsible for the actions of such agent. IN WITNESS WHEREOF, the Parties have executed this Agreement as of the Effective Date. TOWN OF VAIL, COLORADO ________________________________ Travis Coggin, Mayor ATTEST: _____________________________ Stephanie Kauffman, Town Clerk VAIL HOME PARTNERS CORPORATION By: ________________________________ STATE OF COLORADO ) ) ss. COUNTY OF EAGLE ) The foregoing instrument was subscribed, sworn to and acknowledged before me this ___ day of ___________________, 20_, by ________________, as ____________ of Vail Local Housing Partners, Inc. Witness my hand and official seal.______________________________ Notary Public (S E A L) My commission expires: 221 6 4/16/2025 C:\USERS\EASYPD~1\APPDATA\LOCAL\TEMP\BCL TECHNOLOGIES\EASYPDF 8\@BCL@580C4AD9\@BCL@580C4AD9.DOCX EXHIBIT A WEST MIDDLE CREEK EMPLOYEE HOUSING GUIDELINES 1.General. These Guidelines are intended to supplement the Deed Restriction Agreement for West Middle Creek (the "Deed Restriction"). These Guidelines may be updated by Town staff as necessary, and the current version of these Guidelines shall always control over any prior version. In the event of any conflict between these Guidelines and the Deed Restriction, the Deed Restriction shall control. Under the Deed Restriction, VHPC shall be responsible for compliance with these Guidelines. 2.Application. a.Required Information. Each application to lease a Restricted Unit shall be accompanied by the following: i.Verification that the applicant is a Qualified Resident, including verification of the applicant’s current employment and income (e.g.most recent pay stubs, employer name, address, telephone number, location of work, and other appropriate documentation); ii.A valid form of identification; iii.A copy of the applicant’s prior year’s federal tax return; iv.A copy of IRS Form 8821 authorizing the Internal Revenue Service to disclose the tenant’s confidential tax information to the Town; and v.Any other documentation that the Town deems necessary to make a determination of eligibility. b.The applicant's signature on the application certifies that all information submitted in such application is true, that the applicant has read the Guidelines and agrees to comply with them, that the applicant understands that they may not sublet the Residential Unit, that the applicant authorizes VHPC or its agent to verify any and all past or present employment and residency information and all other information submitted by an applicant. 3.Disability. Should a Qualified Resident become an individual with a disability and, because of such disability, be unable to meet the requirements of the Deed Restriction to remain a Qualified Resident, the Qualified Resident shall notify the Town, in writing, of the nature of the disability. If the disability is permanent, the Qualified Resident shall remain a Qualified Resident despite the disability. If the disability is temporary and the Qualified Resident becomes able to return to work, to remain a Qualified Resident, the Qualified Resident must return to work when the disability ceases. Notwithstanding anything to the contrary in these Guidelines or the Deed Restriction, the Town and VHPC will make all reasonable accommodations necessary under the Americans with Disabilities Act. 222 7 4/16/2025 C:\USERS\EASYPD~1\APPDATA\LOCAL\TEMP\BCL TECHNOLOGIES\EASYPDF 8\@BCL@580C4AD9\@BCL@580C4AD9.DOCX 4.Interpretation.In the evaluation of an application to lease a Restricted Unit, the following shall apply: a.An applicant’s physical place of employment is controlling, not the mailing address; b.Claims of employment by an applicant that are unable to be verified will not be utilized in determining an applicant’s eligibility; and c.Seasonal work and part-time work alone may not be adequate to meet the minimum 30 hours per week average annual requirement, but may augment other employment to meet the minimum eligibility requirements. 5.Priority. The priorities for each Unit are as follows: a.A Qualified Resident employed by a business within the Town; and next, b.A Qualified Resident who is employed by a business located in Eagle County, but outside the Town. 6.Misrepresentation. Any misrepresentation by an applicant in any submittal shall disqualify such applicant from being eligible to lease a Unit, and shall be grounds for eviction if such misrepresentation is revealed after such applicant's occupancy. 7.Annual Verification. No later than February 1st of each year, VHPC shall submit a sworn affidavit, on a form provided by the Town, verifying that every Restricted Unit is occupied in accordance with the Deed Restriction and these Guidelines. The affidavit shall be accompanied by the following supporting documentation: a.Verification of current employment and employment during the prior year (paystubs with employer's name, address and contact information); b.Signed authorization allowing the Town and VHPC to discuss employment details with each Qualified Resident's employer; c.Each Qualified Resident's federal income tax return from the prior year, together with an executed Internal Revenue Service Form 8821 or equivalent; and d.Copies of all leases of Restricted Units during the prior year. 223 AGENDA ITEM NO. 6.5 Item Cover Page DATE:April 15, 2025 TIME:20 min. SUBMITTED BY:Greg Hall, Public Works ITEM TYPE:Contract Award AGENDA SECTION:Action Items (6:15pm) SUBJECT:Amendment to Contract Award with Hyder McHugh for Dobson Arena Final Guaranteed Maximum Price (7:30pm) SUGGESTED ACTION:Authorize the Town Manager to execute an amendment to agreement, in a form approved by the Town Attorney, with Hyder McHugh for the Dobson Arena Project in an amount not to exceed $45,774,223.00. PRESENTER(S):Greg Hall, Public Works Director VAIL TOWN COUNCIL AGENDA ITEM REPORT ATTACHMENTS: Council Memo - Dobson Arena 224 TO: Vail Town Council and Vail Recreation District Board FROM: Greg Hall, Director of Public Works and Transportation Dobson Project Team and Owner’s Representative DATE: April 15, 2025 SUBJECT: Dobson Ice Arena Remodel authorization to approve a contract amendment for the Final Guaranteed Maximum Price, as well as contract awards for Owner’s Representative Services and Construction Testing. I.SUMMARY The purpose of this item is to: •Present to the Town Council the Final Guaranteed Maximum Price with an update on Projects Costs and risks based on pricing of the 100% Construction Documents. •Request the Town Council to authorize the Town Manager to execute an amendment to the Contract with Hyder/McHugh in an amount not to exceed $45,774,223 for the construction of the Dobson Arena Project. •Request the Town Council to authorize the Town Manager to execute an amendment to the Contract with Cumming Group an amount not to exceed of $731,000 for the Owner’s Representative services to assist with the construction of the Dobson Arena Project. •Request the Town Council to authorize the Town Manager to execute a Contract with Ground Engineering in an amount not to exceed of $129,000 for the construction testing of the Dobson Arena Project. . II.BACKGROUND On July 18, 2023, a joint meeting of the Vail Recreation District (VRD) and Vail Town Council, project design elements, budget and funding were discussed. The project team and staff returned to the Vail Town Council on August 4 to address concerns as well as provide solutions to issue brought forward. The August 4, 2023, the Vail Town Council directed staff regarding the program elements components of the conceptual design of the Dobson Arena Project and set an overall project budget of $55,391,124. August 18, 2023, the Vail Town Council awarded a design contract to Populous Architects for the Dobson Arena Remodel project. The first phase of the design scope was to develop the conceptual design program into a schematic design package for the project. October 18, 2023, the Town of Vail issued a Request for Qualifications for CM/GC services for the Dobson Arena Remodel Project 225 November 17, 2023, the Town shortlisted the RFQ responders to four General Contractors. • Mortenson • Hyder- McHugh • Saunders • GE Johnson The design team, owners’ representative team, and staff from the Vail Recreation District and the Town took 3 months in progressing the design as part of the schematic design process. On November 21, 2023, the design team presented to the Vail Recreation District/Town of Vail Recreation Subcommittee (Rec Subcommittee) in detail, to review progress of the schematic design package. The Rec Subcommittee, which includes two Town Council members, and two Vail Recreation Board members agreed the project was delivering on what was approved at the conceptual level. On December 5, 2023, the team confirmed that the schematic design was in alignment with the goals of the design objectives outlined at conceptual level and received approval to issue a Request for Proposal to the four shortlisted General Contractors regarding providing CM/GC services for the Dobson Arena Remodel Project as presented in the Schematic Design update. On December 11, 2023, the project team released the RFP which included an extensive schematic design package vetted over three days by the town, VRD, the design team and the owners’ representative to the three remaining General Contractors. On January 30, 2024, the general contractors submitted the detailed responses to the RFP including comprehensive schedules, staffing matrices, general and indirect costs breakdowns, General Contractor Fees and an initial GMP budget based on the schematic design package. An evaluation team then rated each RFP based on criteria reviewed as agreed on by the team. The evaluation team contained members of the design team, VRD staff, town staff, and the owners’ representative Cumming Group. On February 20, 2024, the three contractors then participated in 2-hour interviews with the evaluation team and were rated on the interview portion of the process. On March 5, 2024, the team presented the results of the competitive process of hiring a General Contractor, Hyder/McHugh. At that time, the project budget came in significantly over budget; $76M versus an available budget of $55,400,000. The team presented multiple program options to Council seeking feedback on the preferred direction forward. Council asked that this team narrow down the options to three main options, one which repairs and refreshes Dobson as it is today, one that provides for enhanced program that scales up to the available budget and a confirmation of the option as designed in the Schematic Design documents which includes a replaced and raised roof structure. On June 5, 2024, an update of project options was presented at a joint meeting of the Vail Town Council and Vail Recreation District Board. After presentation and discussion an option was selected, and the design team was approved to move to the Design Development and entitlement process based on the program elements and budget. This 226 Option B was the submitted with two distinct alternates to carry for pricing and entitlement. Option B budget remained at the $55.4 M previously approved by Town Council. On September 4, 2024, the Town Council approved the project design to submit the plans presented for a Conditional Use permit for the Dobson Arena project to the Planning and Environmental Commission, as well as a Design Review Board application for the project as well. On September 27, 2024, the project was presented to the Planning and Environmental Commission during their scheduled meeting. On October 2 and October 16th, the project was presented to the Design Review board and board comments were received. On October 15, 2024, the Town council instructed staff to not fund the Temporary Ice but apply the $ 1M towards the north bathroom alternate. On October 28, 2024, a conditional Use permit was approved for the Dobson Project subject to 4 conditions. On November 13, 2024, the Design Review Board approved the Dobson Arena Project. On November 19, 2024, the project team met with the Rec Subcommittee on to review the entitled project and provide an update on the project schedule. The Rec subcommittee met on December 10th to review draft construction costs and value engineering progress on the project. On December 17, 2024, the Town Council authorized the team to continue with the development of the Construction Documents while refining the budgetary challenges and prepping for submittal of permit documents. The week of February 10, 2025, the final design was put back out to the subcontractor community in preparation of the Final Guaranteed Maximum Price. The project was submitted to the Town of Vail Community Development Department for building permit review. On March 4,2025 the Town Council approved an amendment to the Dobson Arena base agreement with Hyder McHugh to establish the iGMP, early award and commitments in an amount up to, but not to exceed, $366,225.00. On March 31, 2025, the Hyder/McHugh team provided the Final Guaranteed Maximum Price submittal to the Town of Vail. On April 8, 2025, the project team met with the rec subcommittee to review the Final Guaranteed Maximum Price and discuss projects risks and contingency budgets. III. DOBSON ICE ARENA REMODEL PROJECT PRICING AND BUDGET RECONCILATION OF Final GMP. The project design team completed 100% Construction Documents (CDs/drawings & specifications) which became the basis of design for the Final GMP. The Hyder/McHugh CM/GC team solicited a competitive bid process from the sub-contractor market in the development of the FGMP. The Final GMP was provided to the Town and Design team 227 on 3/31/25. The Contractor team presented the FGMP package to the design and owner’s representative team, VRD staff and town staff on 4/2/25. The full project team reviewed, with the Contractor, the budget ‘path-back’ items developed for the iGMP to ensure they were included in the FGMP. The design team and Contractor reviewed the detailed pricing and contractor clarifications by discipline to ensure the pricing covered the project scope and design requirements. Since the presentation to Council on December 17, 2024, the Project team has worked with the Contractor to further refine and define the iGMP. This includes incorporating updates based on the 50% CD documents and adjusting the south elevation to enhance and increase the lounge design by adjusting the south elevation facing the Vail Public Library. This includes filling in scope gaps and adjusting budgets to accommodate project scope risk/cost that required further definition. IV.APPROVED DOBSON ICE ARENA REMODEL PROJECT BUDGET AND FUNDING AND COST TRENDING UPDATE As a reminder, the project funding sources are as presented below. Project Funding Sources: Vail Reinvestment TIF funds $ 48.8M Initial VRD funding the Ice System Hard and Soft Costs $ 3.0M Real Estate Tax Funds over the next 5 years allocated $ 0.8M Temp Sheet Ice Funds applied to North Bathroom $ 1.0M Remaining from reserves, fundraising, and loans $ 1.8M $ 55.4M 2023/2024 Capital Budget (Approved) $ 5.05M 2025 Proposed Capital Budget (Approved) $50.35M Total Project Budget $55.40M Due to the timing of cash flows, the town plans to use financing to cover part of the renovation costs for Dobson Arena. Staff will provide updated financial projections and financing options for the Council to review and approve. The financing process is expected to take about 90 days once a decisions is made. In the meantime, the town has sufficient funds to cover the initial construction phases of the project. The Town also executed a contract with Superlative Group for professional consulting services for the development of advertising, naming rights and sponsorship valuation. The project team conducted a site visit and met the staff and partners this last month. In anticipation of potential capital enhancement funds the project team is studying a list of enhancements which would be added to the project as additional funds become available through fundraising efforts. The team has performed early studies to understand timing and infrastructure needs for these enhancements. 228 The following table has been updated to reflect the FGMP in comparison to the iGMP presented on March 4, 2025, including scope enhancements that continue to be investigated. Budget Update We have confirmed the Final GMP is currently within the budget for the project as noted above. There is risk and concern regarding escalation and the tariffs which have the potential to fluctuate after the GMP has been executed. The Town and Contractor have provided the best available information as to our estimate of potential exposure. Currently we are allocating $1.5M of our total contingency of $3.6M to address tariff driven escalation until the Contractor has formally contracted all subcontractor scope within the next 90 days. With regards to risk, we have collaborated with the General Contractor to study potential risk in the renovation and have identified and allocated contingency to the following key areas of focus as we move forward: 1. Tariff and impacts of tariffs – We are holding the noted contingency within our current contingency until all subcontract and material agreements are executed. The Contractor will aggressively pursue buyouts to secure all agreements within the next 90 days. 2. Subsurface soils – While the facility has performed well over its life, we will be removing a large area of concrete slabs. We are anticipating challenges in replacing and repairing these soils and will track this closely. 3. Abatement – We have minor areas that need addressed and may require abatement by certified contractors. We have identified the material and implemented an approach to remove these materials as we progress through demolition. We also have our support team in place to address issues as they arise. 4. We are aware that subsurface drain lines may need repair after further investigation. The team has located utilities around the facility and investigated location, routing, and depth. The Contractor has included a budget for additional Updated Overall Budget 12/17/24 Update 3/4/25 Update 4/8/25 Update Hard Cost (Includes Accepted Alternates noted below) 45,896,375$ 45,806,000$ 45,755,923$ Soft Cost (Allocated Temp Ice and Design Contingency to Above) 9,587,466$ 9,585,000$ 9,635,077$ Updated Budget 55,483,841$ 55,391,000$ 55,391,000$ Targeted Budget 55,400,000$ 55,400,000$ 55,400,000$ Variance Over/(Under) 83,841$ (9,000)$ (9,000)$ Alternates Included North Bathrooms as Entitled 1,831,244$ 1,831,244$ 1,769,337$ Sound Enclosure 164,463$ 164,463$ included within GMP Expanded Metal Screening included included included within GMP Updated Landscaping included included included within GMP Enhancements Below the Budget (Not Currently Included) Additional Speakers 24,600$ 24,600$ Enhanced Event Lighting 224,000$ 224,000$ To be Redesigned/Repriced Upgraded Scoreboards/Video Wall 200,000$ 200,000$ To be Redesigned/Repriced Pushout Lobby over South Entry now included now included included within GMP Admin Fit Out 293,000$ 293,000$ 287,747$ 229 adjustments to utilities over and above the base utility scope. The team has heavily investigated and studied through the preconstruction process and our project will hold contingency amounts until risk is mitigated. As risk is reduced on these items above, the team will look to fund additional improvements and amenities noted above including additional tenant fit out, exterior and interior enhancements and upgrading of sound, lighting, and video screens. The early contract awards authorized in March for $366,225.00 started the buyout of the project within the current budget and effectively mitigated early pricing risk. Continuing an aggressive buyout process in the following 90 days will reduce exposure to market swings. NEXT STEPS The Project team has responded to permit review comments and are finalizing the plans for construction and permit issuance. With authorization of the Final GMP amendment and project contract execution the move out of Dobson will commence. Project construction will begin April 22, 2025, and would proceed over the next 18 months with project completion scheduled for October 2026. ACTION REQUESTED Authorize the Town Manager to execute an amendment to the Contract with Hyder/McHugh in an amount not to exceed of $45,774,223 for the construction of the Dobson Arena Project. Authorize the Town Manager to execute an amendment to the Contract with Cumming Group an amount not to exceed of $731,000 for the Owner’s Representative services to assist with the construction of the Dobson Arena Project. Authorize the Town Manager to execute a Contract with Ground Engineering in an amount not to exceed of $129,000 for the construction testing of the Dobson Arena Project. ATTACHMENTS Additional Project Costs Recap and Path Back Scope Log 230 Dobson GMP Executive Recap for VRD/Rec Subcomittee 4/8/2025 SUMMARY RECAP iGMP GMP 1 3/4/2025 4/8/2025 2 Owners Budget 55,391,000$ 55,391,000$ -$ 3 Hard Cost 45,896,375$ 45,774,223$ (122,152)$ 4 North Restrooms included in GMP 5 Sound Enclosure included in GMP 6 Kitchen Equipment included in GMP 7 Basic Daktronics Scoreboards included in GMP 8 South Expanded Lobby included in GMP 9 Rack Mounted Network Gear - Allowance included in GMP 10 Color Changing LED's except Strip Lighting at Tension Ring not included 11 Rigging (80 points)included in GMP 12 Subwoofers not included 13 Admin Fit Out not included 14 Path Back Log - Scope Included see attached 15 8" Ice Slab included in GMP 16 Soft Cost 9,585,000$ 9,635,077$ 50,077$ 17 18 Contingency Recap 19 Contractors Contingency at GMP 1,131,263$ 1,131,022$ 20 Owners Contingency at GMP 2,460,728$ 2,460,728$ 21 Total Contingency 3,591,991$ 3,591,750$ 6.5% 22 23 Contingency Risk: 24 Escaltion Risk Identified by Hyder/McHugh - 90 day buyout risk (1,500,000)$ see HM's 4/7/25 memo 25 Allowances - $1,081,591 total allowances carried in GMP (108,159)$ 26 Abatement (200,000)$ 27 Unsuitable Soils (100,000)$ 28 Show Power - RI for West Side (100,000)$ 29 Storm Water Adjustments -$ Projected as a Wash 30 Dewatering Risk (100,000)$ 31 Shoring (50,000)$ 32 Roofing Assembly Adjustments (100,000)$ 33 32 Projected Remaining Owners Contigency 1,433,591$ 33 34 Next Steps 35 Need Drawing and Spec Log Attachment Updated 36 Exhibit B - Insurance; Under Development 37 Final Agreement on Clarifications/Last Pass and Amendment Draft 231 Dobson Path Items Analysis Incorporated into Permit Set or ASI01? Captured in 'Base Bid' GMP Pricing?Additional Comment DIV Accepted ALTS from 100%DD Bid Effort: ASI 02 - Gabled Roof Change above North Bathroom Addition Y Y North Bathroom Addition ALT no, ALT See ADD Alternate Pricing 10 Sound Enclosure Allowance @ NW Mech Yard Y Y 11 Foodservice Package, shift to CFCI no Y* *carried as an Allowance which matches 'Path' Value; pricing ongoing 11 Scoreboards and Clocks to CFCI Y Y 26 Low Voltage Duct-Bank T1-0 Y Y 26 Conduits Extension from T1-0 through Garage to Transit Center Y Y* * See allowance carried. Understood that pathway is mostly existing, per J.K. 26 Alternate lighting package from Fixture Schedule E0-5, column 'Alternate1' Y Y see Quals . This is an ALT/Sole-source package via TLA DIV VE/ Plan Flip Review Notes / 50%CD items 2 Salvage of Existing Ice Plant for Eagle County no notes no Salvage excluded per Owner direction. This was TBD in the 'Path' 2 Re-Roof: Indicate Ice and Water shield removal is required (ILO AC Felt assumed) Y Y* * we now realize the existing membrane is asphaltic sheet. Cost for removal is covered 3 Concrete Mix Design Change - Footers and Wall - psi/WC ratio/cement Type Y Y 3 Buttressess - Patch and Repair Y Y 5 GluLam Reinf. Splice plate revisions ILO Full-Pen welds Y Y ongoing discussion and design 5 Add railing behind Penalty Boxes for when glass gets removed ASI 01 removed this Y 5 Add Steel/Bracing details & notes for ceiling hung partitions No Y* *carried as an Allowance. 5 Railing Infill Adjust - Glass only at Mon. stair Y Y 5 Railing infill mesh to WWM at Bowl railings (where not glass already) ILO expanded mtl Y Y 5 New Openings in existing precast fully wrapped in channel ILO lintel - North RR Y Y 5 New Openings in existing precast fully wrapped in channel ILO lintel - Admin Alt Y Y 5 GluLam Reinforcement plate thickness change at select members (2.25" now ILO 1.5") Y Y 5/6 Add Drink shelf on backside of east and west Scoreboard pony wall; steel angle Y Y 5/6 Drinkrail - change Glass Fin and Solid Top to large steel angle Y Y 7 Different Insulation scheme at skylight infill (no Nailbase; place batts in I-joist void) Y Y 7 Require flood testing on horizontal W-Proofing Y Y 7 Add heat trace to valleys at Roof Y Y 7 Downspouts - length / qty update; verify flow into each Y Y 7 West entry - remove black top plate from eyebrow; TPO normal roofing to remain Y Y 7 Alternate GFRC/Concrete cladding - South Entry Y Y carried as clarified 7 Parallel Architectural or Longboard faux-wood soffiting Y Y carried as clarified 7 Delete any references to underslab insulation (except at Ice Sheet) Y Y 7 Adjust indications of waterproofing where transitioning from gradebeams to framed walls Y Y 9 Y Y 9 Add sealer at honed CMU walls Y Y 9 Paint Duct and Sheet metal at exteriors where needed / Existing wood fascia refinish Y Y 9 Paint exposed area in West Entry peak Y Y Add Drywall or FRP to existing Basement wall exterior @ Aux locker room 1 & 2, to hide old dampproofing/finish 232 9 Painting of Reinforcement plating/angles/seats on GluLams, both new and existing steel partial Y carried as clarified. 9 Add dropped soffits in Locker Rooms where required to hide low ducting Y Y 9 Remove drop ceiling SE storage, Events level Room 00.05.01 & 00.04.03 Y Y 9 Replace carpet insert at east entry Y Y 9 Add drop ceilings @ Staff Locker/Skate Repair/Director Y Y 9 BOH CMU walls get sealer ILO epoxy paint Y Y 9 Change to MMA poured flooring ILO Epoxy Y Y Or indicated as an ALT so we can see the Premium 9 Athletic Floor - Mondo flooring to Regupol Aktiv (moisture tolerant underlayment remians) No Y carried as clarified - Spec still needs adjustment 10 Recessed Alum. Entry Mat - Reduced limits; W.O. carpet tiles in low travel areas Y Y 10 Mirrors in Restrooms all to become shatterproof No No I don't think this ever made the Spec. 10 Remove indications of exhaust screen abv Admin Y Y 10 Toilet Partitions - Upgrade to HDPE - Base Bldg (not Phenolic or Laminate) No Y carried as clarified - Spec still needs adjustment 10 Toilet Partitions - Upgrade to HDPE - North RR Alt No Y carried as clarified - Spec still needs adjustment 10 Toilet Accessories - Stainless shelves added to Lavs where a millwork counter does not occur Y Y 10 Fall Protection - Allowance Adjustment Y Y carried as per the Populous email from 3/14/25 11 Remove Ice rink divider from Spec Y Y 11 Kitchen Equipment reduction (or shifted to OFOI) ? Y* *carried as an Allowance which matches 'Path' Value; pricing ongoing 12 South Stadium Seating - Add backrests at new seats Y Y 12 or South Stadium Seating - Full folding individual seats n/a n/a 13 Ice Dams at Straight Ends of Rink Y Y 13 Fix Ice Spec to list 2-year Warranty Y Y 14 Fix Elevator Spec to list 2-year Warranty no Y adder included on Tabulation 21 Add Second FDC, Specialized Sensor/Valving on FDCs Y Y 21 Add Fire Sprinkler Stand Pipe East Path Y Y 25 Indicate Ice Pit Sump Pit abandonment. Relocation? Y Y 25 Delete Sand/Oil sep. and piping Ded ALT Y Included in Base Bid, see Deduct ALT 25 Any hydronic lines above slat ceiling reusable? (existing 3" currently) no no, TBD to be verifed during course of constr. This was TBD in the 'Path' 25 Area Drains added on top of NW Mech Yard x 2, Piped to outside storm Y Y 25 Utilize sprial lock single wall at Main Bowl ducts Y Y 25 Reduce to 2 water heaters Y Y 25 Decrease /Reroute water heater venting Y Y 26 Additional Light Fixture cost reductions Ideas: Deduct for tape light at bowl perimeter ILO Wall Grazer no no may still be opportunity to explore deducts to light fixtures after contract Change L1 fixtures to L1A no no may still be opportunity to explore deducts to light fixtures after contract Change L4 to 12 pendant Fixtures With Purchase Allow of $2,000 Each Y Y Delete S1 fixtures at entries no no may still be opportunity to explore deducts to light fixtures after contract 26 no Y carried as Pre-emptive VE as qualified 26 Increased Elec receptacles in Locker Room for Green Room/Prep use Y Y 26 Reduced cord reels in Dock area, 3 ea. ILO 6 ea. Y Y 26 Add beverage conduits, from cooler through Main Concession only no Y Small budget carried. Not on plans 26 Aluminum bus and windings allowed Y Y carried as basis 26 Alternate routing of secondary feeders; allow conduits under ice Y Y carried as basis 26 Mounted Main Breakers ILO drawout Y Y carried as basis 26 Stadia step lighting becomes Spotlights; remove north ext. stair tread lights Y Y 27 Simplify AV - +/- $1.2M total between Rough and Trim ideas reduced speakers/zones Y Y All LV priced as shown and qualified. Multiple bidders (5+) all in the same range. reduced TV sizes/locs no Y All LV priced as shown and qualified. Multiple bidders (5+) all in the same range. Reduce Company Power Gear - Remove W side equipment but infrastructure remains- can be added in future 233 remove Control PC and KVM (reduce controls/integration/BAS) no Y All LV priced as shown and qualified. Multiple bidders (5+) all in the same range. reduced IPTV / encoded TV locs no Y All LV priced as shown and qualified. Multiple bidders (5+) all in the same range. reduced Security camera Locs & HDD capacity no Y All LV priced as shown and qualified. Multiple bidders (5+) all in the same range. 27 Increased data drops in Admin Alt (~16 ea.) Y Y 27 Provision of WAPs to HM Budget Y no *See global $150k Voluntary Alternate Allowance suggested by Encore as a budget- shift for this scope. This was TBD in the 'Path' 27 In-Rack Electronics to HM Budget partial, design ongoing no w/ above statement 27 Televisions back to CFCI Y Y 27 Subwoofers added back in ALT no, ALT 27 Add TV Back Box, Mount & TV at Main Concessions (3 ea.) (Alt to go to 5?) Y Y 28 Add remote annunciator - Fire Alarm Y Y 31 Over-Excavate / Eng Fill Import Allowance no no Still not defined. GeoTech makes no recommendation beyond 'soft spots'. 32 Increased asphalt / base thickness per updated Geo Report Y Y 32 Trash container Site Furnishings to CFCI? 4 ea. Y Y 32 Site Furnishings - bench Spec change? Y Y 32 Entry bollards now vehicle rated Y Y 32 Replace paver path up to North Condo property Y Y 33 North Dry Well Detail - enlarged, difficult Y Y carried as 4' diameter per sub. This was TBD in the 'Path' 33 North East Dry Well Detail - enlarged, difficult Y Y carried as 4' diameter per sub. This was TBD in the 'Path' 33 Drainage utils for NE yard Y Y 33 Incresed lengths of slot drain at west entry patio Y Y 33 Incoming water service to enter bldg as close to Water Room as possible Y Y multi Ice Pit adjustments - (pilaster, footer, coring, re-pour, piping) Y Y multi Fire rating of Loading Dock Y Y multi South roof / window modifications Option 2 Y Y all costs to increase the Lobby space over the south vestibule, incl. -$ 234 TOTAL ESTIMATED CONSTRUCTION COST BASE BID $43,928,636 ALTERNATE - NORTH RESTROOMS $1,769,337 SUBTOTAL $45,697,973 IGMP VALUATION / BUDGET TARGET $45,802,080 VARIANCE TO IGMP ($104,107) UNTRENDED / SCOPE CREEP ITEMS INCORPORATED IN THE GMP: • Arena Roofing Tie-rod bracing/clevis (and paint) • Additional rigging point buckets/detailing (and paint) • Outside Plant 48-strand Fiber Optic runs to Transit Center • Metal panel cladding on interior duct bridge (Ref. 3/A8-1) • Expansion joints and covers, rated. Inside concessions room and on ext. wall • Added FCU to Ice Plant room • West entry 'clouds' to a more expensive product • Increased Elevator capacity to 5000 lbs 235 AGENDA ITEM NO. 6.6 Item Cover Page DATE:April 15, 2025 SUBMITTED BY:Greg Hall, Public Works ITEM TYPE:Contract Award AGENDA SECTION:Action Items (6:15pm) SUBJECT:Amendment to Agreement with Cumming Group for Dobson Arena Project Owner's Representative Services (7:30pm) SUGGESTED ACTION:Authorize the Town Manager to execute an amendment to agreement, in a form approved by the Town Attorney, with Cumming Group for Dobson Arena owner's representative services in an amount not to exceed $731,000.00. PRESENTER(S):Greg Hall, Public Works Director VAIL TOWN COUNCIL AGENDA ITEM REPORT ATTACHMENTS: 236 AGENDA ITEM NO. 6.7 Item Cover Page DATE:April 15, 2025 SUBMITTED BY:Greg Hall, Public Works ITEM TYPE:Action Items AGENDA SECTION:Action Items (6:15pm) SUBJECT:Contract Award to Ground Engineering for Dobson Arena Construction Testing (7:30pm) SUGGESTED ACTION:Authorize the Town Manager to enter into an agreement, in a form approved by the Town Attorney with ,Ground Engineering for Dobson Arena Construction Testing in an amount not to exceed $129,000.00. PRESENTER(S):Greg Hall, Public Works Director VAIL TOWN COUNCIL AGENDA ITEM REPORT ATTACHMENTS: 237 AGENDA ITEM NO. 6.8 Item Cover Page DATE:April 15, 2025 TIME:15 min. SUBMITTED BY:Steph Johnson, Town Manager ITEM TYPE:Contract Award AGENDA SECTION:Action Items (6:15pm) SUBJECT:Contract Award to Srada Inc. and IronBric Associates LLC for HR/Payroll Software (7:50pm) SUGGESTED ACTION:Authorize the Town Manager to enter into a five-year service agreement, in a form approved by the Town Attorney, with Srada Inc. for the Workday HR Payroll system in an amount not to exceed $881,441.00 and IronBrick Associates LLC in an amount not to exceed $1,125,256.00. PRESENTER(S):Carlie Smith, Finance Director, Krista Miller, HR Director, and Alex Jakubiec, Finance Manager VAIL TOWN COUNCIL AGENDA ITEM REPORT ATTACHMENTS: Council Memo - Workday HRIS Payroll Software 238 To:Vail Town Council From:Carlie Smith, Finance Director Krista Miller, HR Director Date:April 15, 2024 Subject:HR/Payroll Software I.PURPOSE The purpose of this item is to: Discuss current HR/Payroll software solutions and challenges Discuss process to select new HR/Payroll Software Request supplemental funding for implementation costs that cause our budget to be exceeded II.BACKGROUND The Town currently utilizes a combination of technologies to perform its suite of HR, time and attendance, benefits, and payroll management services. These include New World (also used as our finance system), Novatime, Laserfiche, NeoGov, email, and Excel worksheets. These legacy systems don't communicate with one another, creating significant inefficiencies through duplicative data entry, increased risk of error, and ultimately, a negative impact on employee experience. The New World system, which currently houses the majority of our HR and Payroll services, was implemented in 2012, as was Novatime, our current timekeeping system. These systems have served the town adequately over the last 12+ years, but they are no longer able to meet our evolving needs. In fact, New World is no longer investing in its product development. To address theses challenges, we are proposing to implement a modern, integrated HR/Payroll system in 2025. The recommended all-in-one solution will manage the entire employee life cycle including time and attendance, complex payroll calculations across multiple FLSA groups including Fire and Police, enhance our ability to adjust to external regulatory and internal payroll policy changes, manage all steps of open enrollment, on-boarding, and benefit carrier interfaces while integrating accurately with our existing financial software. Each of these pieces will meet our current known needs, and will also provide scalability, enabling future growth without disproportionate increases in administrative staff. 239 Town of Vail Page 2 Beyond financial returns, the system positions the organization to deliver better support to our employees, streamlining payroll processes, and provide managers and HR with automated workflows. Reducing the administrative burden will allow HR personnel to focus on strategic initiatives like talent management and employee engagement, directly aligning with organizational goals. Further, we expect that the system will improve the day to day employee experience and engagement via direct access applications for timekeeping, benefits open enrollment, PTO and leave management, and voluntary deduction elections, among other functions. The app is available on phones and tablets, and there is also a full interface through the web for more detailed work. III.DETAIL To ensure we selected the best solution for the town’s current and future needs, Town staff took the time to evaluate and assess a number of different software vendors to meet our needs. This involved watching demonstrations, talking to other entities about their experiences with various HR/Payroll software, and researching various software capabilities on our own. Through this process, we identified 6 different companies that warranted a deeper dive, and we attended further demonstrations with these companies. Four companies rose to the top, and we received proposals from each of them, as well as 4 additional vendors that responded to the public RFP we posted on our website. Of those 8 proposals, we identified the one that best matches the Town’s needs for both today and the future. The system recommended is a premier product in this category and will enhance the experience of every employee in onboarding, development, benefit elections, payroll, timekeeping, and self-service through a modern application. IV.COST DETAILS This project was originally budgeted within the 2025 budget at $120,000 for only an HR specific software. After the 2025 budget process, staff recognized the need to expand the scope to include Payroll systems for one central employee record system. As initial licensing pricing was received, it became clear that the original estimate significantly underestimated the true cost of a comprehensive solution. We supplemented the original budget to $290K, which is sufficient to cover the first year annual software subscription of $188K and some required one-time software education and service fees of $146K. The ongoing subscription includes a 2% annual price escalation and a 5-year annual software cost totaling $1.13M (approximately $226K annually). Due to the nature of this type of project, there are significant one-time costs that we will incur to ensure proper set up and conversion to maintain continuity in town records and data In addition to the $334K in first year software fees, one-time implementation costs for configuration, data migration, integrations, and staff training associated with a project of this scale. These costs are estimated at approximately $900K. These systems are highly configurable and require specialized expertise to ensure they are set up correctly 240 Town of Vail Page 3 from the start. Leveraging vendor-led implementation not only accelerates the timeline but also minimizes costly errors and rework down the road. While this represents a significant upfront investment, the long-term benefits including improved efficiency, reduced administrative burden, better compliance, and an enhanced employee experience make this a strategic investment in the Town’s future. Staff is also requesting an additional budget of $200K for supplemental labor and potential software necessary to facilitate the implementation of a fully realized system. These costs include the hiring of fixed-term employees to support staff and implementation teams during this 8 to 10 month project. Staff received references from other municipalities engaged in similar projects with the same vendor who indicated the majority of their staff’s time was dedicated to this project during the implementation. Additional resources are requested to assist and limit impacts to current service levels during this project. Given that this system directly supports and benefits our workforce, staff recommends funding the one-time implementation costs using staffing savings realized in 2024. In 2024 the total amount was $3.0M which includes savings due to vacancies and turnover as well as lower health plan and benefits costs. $2.1M of these savings were within the General Fund. V.ACTION REQUESTED OF COUNCIL Authorize supplementing for a total of $1,125,280 for this budget to cover the one-time costs related to implementation, configuration, data conversion, project management, and first year software subscription this software project Authorize the Town Manager to enter into an agreement, in a form approved by the Town Attorney, with Strada, Inc., for an amount not to exceed $881,441 and with Ironbrick Associates LLC for an amount not to exceed $1,125,256 for a five year service. 241 AGENDA ITEM NO. 6.9 Item Cover Page DATE:April 15, 2025 TIME:15 min. SUBMITTED BY:Matt Gennett, Community Development ITEM TYPE:Ordinance AGENDA SECTION:Action Items (6:15pm) SUBJECT:Ordinance No. 9, Series of 2025, An Emergency Ordinance Temporarily Suspending the Issuance of Building Permits Related to the Conversion of Eating and Drinking Establishments to Retail Establishments in the SBR, SBR-2, CC-1, CC-2, LMU-1, LMU-2, and PA Zone Districts (8:05pm) SUGGESTED ACTION:Approve, approve with amendments, or deny Emergency Ordinance No. 9, Series of 2025. PRESENTER(S):Matt Gennett, Community Development Director VAIL TOWN COUNCIL AGENDA ITEM REPORT ATTACHMENTS: Ordinance No. 9 - Restaurant Conversion Stay 242 4/11/2025 C:\USERS\EASYPD~1\APPDATA\LOCAL\TEMP\BCL TECHNOLOGIES\EASYPDF 8\@BCL@F00C75BD\@BCL@F00C75BD.DOCX ORDINANCE NO. 9 Series of 2025 AN EMERGENCY ORDINANCE TEMPORARILY SUSPENDING THE ISSUANCE OF BUILDING PERMITS RELATED TO THE CONVERSION OF EATING AND DRINKING ESTABLISHMENTS TO RETAIL ESTABLISHMENTS IN THE SBR, SBR-2, CC-1, CC-2, LMU-1, LMU-2, AND PA ZONE DISTRICTS WHEREAS, the Lionshead Redevelopment Master Plan encourages pedestrian- friendly environments with a sense of place and purpose; WHEREAS, the Vail Village Master Plan encourages activity that provides night life and evening entertainment; WHEREAS, the Vail 5-Year Strategic Plan emphasizes the importance of pedestrian uses that support nightlife and promote the vibrancy of Lionshead and Vail Village; WHEREAS, the Town is currently drafting amendments to the Vail Town Code that promote the goals established in the adopted Master Plans, including reducing the conversion of eating and drinking establishments into retail establishments; WHEREAS, eating and drinking establishments are critical to the Town's economy and are necessary to ensure that Lionshead and Vail Village are pedestrian-friendly environments that provide nightlife and evening entertainment; WHEREAS, the Town has experienced an increase in applications to convert eating and drinking establishments into retail establishments; WHEREAS, retail establishments do not foster the same sense of place and purpose as eating and drinking establishments; WHEREAS, retail establishments do not provide nightlife or evening entertainment; and WHEREAS, the Town Council finds it in the best interest of the public health, safety and welfare to suspendthe issuance of building permits related to the conversion of eating and drinking establishments into retail establishments to allow the Town Council to consider amendments to the Vail Town Code in furtherance of the Master Plans and related goals of supporting nightlife and maintaining vibrancy in the Town. NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF VAIL, COLORADO, THAT: Section 1.Based on the foregoing recitals, the Town hereby suspends the issuance of building permits related to the conversion of an eating and drinking 243 2 4/11/2025 C:\USERS\EASYPD~1\APPDATA\LOCAL\TEMP\BCL TECHNOLOGIES\EASYPDF 8\@BCL@F00C75BD\@BCL@F00C75BD.DOCX establishment to a retail establishment in the Ski Base/Recreation (SBR), Ski Base/Recreation 2 (SBR-2), Commercial Core 1 (CC-1), Commercial Core 2 (CC-2), Lionshead Mixed Use 1 (LMU-1), Lionshead Mixed Use 2 (LMU-2), and Public Accommodation (PA) zone districts, for 180 days from the effective date of this ordinance. 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.Pursuant to § 4.11 of the Vail Town Charter, the Town Council hereby finds and declares that this ordinance is necessary for the preservation of the public health, safety and welfare, because the suspension is necessary to prevent the loss of eating and drinking establishments in Lionshead and Vail Village, which are critical elements to creating a pedestrian-friendly environment with nightlife and evening entertainment consistent with the Town's adopted master plans and to give the Town adequate time to prepare amendments to the Vail Town Code that promotes the same. Section 4.This ordinance shall be effective immediately upon adoption. INTRODUCED, APPROVED, AND ORDERED PUBLISHED IN FULL this 15th day of April, 2025. _____________________________ Travis Coggin, Mayor ATTEST: ____________________________ Stephanie Johnson, Acting Town Clerk 244 AGENDA ITEM NO. 7.1 Item Cover Page DATE:April 15, 2025 TIME:45 min. SUBMITTED BY:Heather Knight, Community Development ITEM TYPE:Ordinance AGENDA SECTION:Public Hearings (8:20pm) SUBJECT:Ordinance No. 10, Series of 2025, First Reading, An Ordinance Rezoning 1476 Westhaven Drive, Lot 53, Glen Lyon Subdivision, from Special Development District No. 4 (Cascade Village) to High-Density Multi-Family (HDMF) (8:20pm) SUGGESTED ACTION:Approve, approve with amendments, or deny Ordinance No. 10, Series of 2025 upon first reading. PRESENTER(S):Heather Knight, Town Planner VAIL TOWN COUNCIL AGENDA ITEM REPORT ATTACHMENTS: Council Memo - Coldstream Ordinance Attachment A. Ordinance No. 10, Coldstream Attachment B. PEC24-0054 Staff Memo Attachment C. PEC Meeting Minutes 2-10-2025 Attachment D. Applicant Presentation - Coldstream Attachment E. PEC24-0054 Application Staff Presentation - Coldstream Rezone Staff Presentation 245 Town of Vail Page 1 TO: Town Council FROM: Community Development DATE: April 15, 2025 SUBJECT: First reading of Ordinance No. 10, Series of 2025, for a zone district boundary amendment, pursuant to Section 12-3-7, Amendment, Vail Town Code, to allow for the rezoning of 1476 Westhaven Drive, Lot 53, Glen Lyon Subdivision, from the Special Development District No. 4 (Cascade Village), Area B, to the High-Density Multi-Family (HDMF) District. (PEC24- 0054) Applicant: Coldstream Ltd., represented by High Summit Planning Planner: Heather Knight I. SUMMARY The applicant, Coldstream Ltd., represented by High Summit Planning, is requesting a zone district boundary amendment, pursuant to Section 12-3-7, Amendment, Vail Town Code, to allow for the rezoning of 1476 Westhaven Dr, Lot 53, Glen Lyon Subdivision, from the Special Development District No.4 (Cascade Village), Area B, to the High-Density Multi-Family (HDMF) District. Since there is no underlying zoning, the application to rezone from SDD to HDMF represents a zone district amendment and is not an amendment to the SDD. Approval of this application would remove the property, Area B, from the SDD. The Planning and Environmental Commission held a public hearing on the proposed Zone District Boundary amendment on February 10, 2025, where a recommendation of approval was forwarded to the Vail Town Council by a vote of 5-2-0. II. ACTION REQUESTED OF THE TOWN COUNCIL The Vail Town Council shall approve, approve with modifications, or deny Ordinance No. 10, Series of 2025 on first reading. 246 Town of Vail Page 2 III. DESCRIPTION OF REQUEST The applicant is requesting a zone district boundary amendment, pursuant to Section 12-3-7, Amendment, Vail Town Code, to allow for the rezoning of 1476 Westhaven Dr, Lot 53, Glen Lyon Subdivision, from the Special Development District No.4 (Cascade Village), Area B, to the High-Density Multi-Family (HDMF) District. Since there is currently no underlying zone district in SDD No.4, even small changes to building to a particular property within the SDD No. 4 need to go through the development plan approval process with both the Planning and Environmental Commission (PEC) and the Town Council, instead of the normal Design Review Board application. Applying the HDMF zone district to this parcel and removing it from the SDD will formally quantify the allowable density and dimensional limitations allowed for any additions. Applying a zone district to this area provides a level of certainty and predictability to Staff and Commissions as to the limits of development for this parcel and creates consistency with surrounding adjacent Zone Districts and land uses. The development as it exists today conforms to the zoning standards for the HDMF zone district and does not inherit any variations from being developed under a special district. IV. BACKGROUND 247 Town of Vail Page 3 Special Development District No. 4, Cascade Village, was adopted by Ordinance No. 4 Series of 1976. At least twenty amendments have occurred between 1977 and 2008. The subject property was a Planned Unit Development under Eagle County jurisdiction then annexed in 1975. SDD No. 4 includes the following areas: Area A Cascade Village Area B Coldstream Condominiums Area C Glen Lyon Primary/Secondary and Single-Family Lots Area D Glen Lyon Commercial Site Area E Tract K The entire Cascade Village SDD is approximately 97.5 acres. Coldstream itself is situated on an approximately 4.21-acre (+/-183,479 sf) parcel designated as Area B. Because the property was annexed into the Town of Vail as a Planned Unit Development under Eagle County jurisdiction and early Special Development Districts were not based on underlying zoning, there is no underlying zoning for Cascade Village. Uses and development standards for the entire property are as outlined in the adopting ordinance for Special Development District No. 4. According to 12-9A-1, Purpose and Applicability, Special Development District, an approved development plan for a Special Development District, in conjunction with the property’s underlying zone district, shall establish the requirements for guiding development and uses of property included in the Special Development District. Since there is currently no underlying zone district in SDD No.4, any changes to a particular property within the SDD No. 4 need to go through the development plan approval process with both the Planning and Environmental Commission (PEC) and the Town Council, compared to only a Design Review Board application. Applying the HDMF zone district to this parcel and removing it from the SDD will formally quantify the allowable density and dimensional limitations allowed for future development. Applying a zone district to this area would also provide a level of certainty and predictability to Staff and Commissions as to the limits of development for this parcel in the future and would also create consistency with surrounding adjacent Zone Districts and land uses. Both parcels to the West of Coldstream, Eagle Pointe Condominiums and Alura, are zoned HDMF. Between the years of 1990 and 2024, Coldstream proposed multiple amendments to the SDD #4. None of these proposals were implemented or moved forward from the PEC meetings, mainly due to financial constraints. Specifically, in late 2024, a major amendment to the SDD #4 was presented to the Town Council but was tabled and rescinded to pursue this current rezoning application. On February 18, 2025, the PEC and Town Council held a joint meeting to discuss certain processes and items that impacted both entities. Specifically, there was a discussion regarding SDD’s regarding clarity of process and impacts to developments and applicants. It was stated that the clarity of the process is most important, and zoning allows for neighborhoods and applicants know what to expect for development. The SDD process can be time consuming, expensive and frustrating for an applicant. Straight zoning versus SDDs can help foster the relationship between the PEC and the applicant as there would be a set standard of expectations and a clear process. It was stated that as much as can be accomplished from implementing straight zoning is a win, as it is a predictable set of rules 248 Town of Vail Page 4 and will not create a situation of spot zoning. With an SDD, there is no variance process, but with zoning in place, the PEC has a variance process. Taking out the negotiation piece of the process and replacing with predictability is a benefit to the applicant as well as the Town. V. RECOMMENDED MOTION Should the Vail Town Council choose to approve Ordinance No. 10, Series of 2025, on first reading, the Planning and Environmental Commission recommends the Council pass the following motion: “The Vail Town Council approves, on FIRST reading, Ordinance No. 10, Series of 2025, an ordinance for a zone district boundary amendment, pursuant to Section 12-3-7, Amendment, Vail Town Code, to allow for the rezoning of 1476 Westhaven Dr, Lot 53, Glen Lyon Subdivision, from the Special Development District No.4 (Cascade Village), Area B, to the High- Density Multi-Family (HDMF) District.” Should the Vail Town Council choose to approve Ordinance No. 10 Series of 2025, the Planning and Environmental Commission recommends the Council make the following findings: “The Vail Town Council finds:” 1. That the amendment is consistent with the applicable elements of the adopted goals, objectives and policies outlined in the Vail comprehensive plan and is compatible with the development objectives of the town; and 2. That the amendment furthers the general and specific purposes of the zoning regulations; and 3. That the amendment 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.” Vl. ATTACHMENTS A. Ordinance No. 10, Series of 2025 B. Staff Memorandum to PEC, 2-10-25 C. PEC Meeting Minutes, 2-10-25 D. Applicant Presentation, 4-15-25 E. Application and supporting materials 249 1 ORDINANCE NO. 10 Series of 2025 AN ORDINANCE REZONING 1476 WESTHAVEN DRIVE, LOT 53, GLEN LYON SUBDIVISION, FROM SPECIAL DEVELOPMENT DISTRICT NO. 4 (CASCADE VILLAGE) TO HIGH-DENSITY MULTI- FAMILY (HDMF) WHEREAS, Coldstream Ltd., (the "Applicant") owns the real property more particularly described as 1476 Westhaven Drive, Lot 53, Glen Lyon Subdivision, Vail, Colorado, and depicted in Exhibit A, attached hereto and incorporated herein by this reference (the "Property"); WHEREAS, on December 23, 2024, the Applicant filed an application to rezone the Property to High-Density Multi-Family (HDMF) (the "Application"); WHEREAS, Section 12-3-7 of the Vail Town Code sets forth the procedures for rezoning; WHEREAS, on February 10, 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 April 15, 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 recommendation of the Planning Commission, hearing the statements of Town staff, the Applicant and the public, and giving due consideration to the matter, finds and determines as follows: a.The rezoning is consistent with the applicable elements of the adopted goals, objectives and policies outlined in the Vail Comprehensive Plan and is compatible with the development objectives of the Town; b.The rezoning is compatible with and suitable to adjacent uses and appropriate for the surrounding areas; and c.The rezoning promotes 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 quality. Section 2. Based on the foregoing findings, the Town Council hereby approves the Application and rezones the Property from Special Development District No. 4 (Cascade Village) to High-Density Multi-Family (HDMF). 250 2 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 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 15th day of April, 2025 and a public hearing for second reading of this Ordinance set for the 6th day of May, 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 6th day of May, 2025. _____________________________ Travis Coggin, Mayor ATTEST: ____________________________ Stephanie Kauffman, Town Clerk 251 3 EXHIBIT A 252 TO: Planning and Environmental Commission FROM: Community Development Department DATE: February 10, 2025 SUBJECT: 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 1476 Westhaven Dr, Lot 53, Glen Lyon Subdivision, from the Special Development District No.4 (Cascade Village), Area B, to the High Density Multi-Family (HDMF) District and setting forth details in regard thereto. (PEC24-0054) Applicant: Coldstream Ltd., represented by High Summit Planning Planner: Heather Knight I. SUMMARY The applicant, Coldstream Ltd, represented by High Summit Planning, is requesting 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 1476 Westhaven Dr, Lot 53, Glen Lyon Subdivision, from the Special Development District No.4 (Cascade Village), Area B, to the High Density Multi-Family (HDMF) District. 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 the Planning and Environmental Commission recommend approval for a zone district boundary amendment, subject to the findings noted in Section VIII of this memorandum. II. DESCRIPTION OF REQUEST The applicant, Coldstream Ltd, represented by High Summit Planning, is requesting 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 1476 Westhaven Dr, Lot 53, Glen Lyon Subdivision, from the Special Development District No.4 (Cascade Village), Area B, to the High Density Multi-Family (HDMF) District. The following items are included for review: Attachment A. Vicinity Map 253 Town of Vail Page 2 Attachment B. Applicant Narrative/Project Description III. BACKGROUND Special Development District No. 4, Cascade Village, was adopted by Ordinance No. 4 Series of 1976. At least twenty amendments have occurred between 1977 and 2008. The subject property was a Planned Unit Development under Eagle County jurisdiction then annexed in 1975. SDD No. 4 includes the following areas: Area A Cascade Village Area B Coldstream Condominiums Area C Glen Lyon Primary/Secondary and Single-Family Lots Area D Glen Lyon Commercial Site Area E Tract K The entire Cascade Village SDD is approximately 97.5 acres. Coldstream itself is situated on an approximately 4.21-acre (+/-183,479 sf) parcel designated as Area B. Because the property was annexed into the Town of Vail as a Planned Unit Development under Eagle County jurisdiction and early Special Development Districts were not based on underlying zoning, there is no underlying zoning for Cascade Village. Uses and development standards for the entire property are as outlined in the adopting ordinance for Special Development District No. 4. According to 12-9A-1, Purpose and Applicability, Special Development District, an approved development plan for a Special Development District, in conjunction with the property’s underlying zone district, shall establish the requirements for guiding development and uses of property included in the Special Development District. Since there is currently no underlying zone district in SDD No.4, any and all changes to a particular property within the SDD No. 4 need to go through the development plan approval process with both the Planning and Environmental Commission (PEC) and the Town Council. Applying the HDMF zone district to this parcel and removing it from the SDD will formally quantify the allowable density and dimensional limitations allowed for future development. Applying a zone district to this area would also provide a level of certainty and predictability to Staff and Commissions as to the limits of development for this parcel in the future and would also create consistency with surrounding adjacent Zone Districts and land uses. Both parcels to the West of Coldstream, Eagle Pointe Condominiums and Alura, are zoned HDMF. Coldstream Background: Coldstream Condominiums were completed in 1981 and include 45 residential condominiums and other related improvements including on-site parking, extensive landscaping, pool, spa, cabana, tennis court and a racquetball/squash court. 254 Town of Vail Page 3 With the opening of the Cascade Club [Aria] in 1987 (with its seven tennis courts and six racquetball/squash courts), the Coldstream tennis and racquetball/squash facilities became obsolete as Coldstream owners were able to utilize Cascade Club facilities. Since that time the racquetball/squash court has been adapted to property and rental management use and the tennis court is seldom used. In late 1990, an amendment to SDD #4 was proposed and recommended to approve a small increase in GRFA and clarify other development standards. The plan included the renovation of the courts building into property management facilities and storage as well as two employee restricted units. Because of financing difficulties, the project was never implemented. In 1995, Coldstream owners expended a large budget to replace the roofs and make substantial site/landscape improvements. In 2002, the Coldstream underwent a utility project bring natural gas into the site. In 2004, the Board prepared a phased redevelopment plan for the site. The first phase consisted of replacing all building exteriors: siding, windows, doors and extensive landscape and site improvements. These improvements were completed in 2006. In 2011, there was a PEC application and subsequent work session that included a revised parking garage, residential units and two employee housing units that would have resulted in an increase in GRFA and reduced side setbacks. The PEC’s comments were generally supportive of the re-development concept yet provided constructive feedback regarding several design aspects of the project. In 2012, a second PEC work session took place with the same project components as 2011. The PEC noted the need for additional landscaping, concerns regarding the side setback decrease, concerns regarding the partially exposed parking structure and increased public benefit beyond providing two EHUs onsite. This work session also resulted in a stalled project due to budget constraints. In early 2024, the project again resurfaced, and the applicant and PEC engaged in another work session. Comments were positive regarding the garage location into the setback, as it is below grade at the point of encroachment. Significant landscaping was added to minimize the appearance of the garage from neighboring properties. This was positively noted by the PEC. In late 2024, the applicant submitted a PEC application for a major amendment to the SDD that included the changes made after the work session. This included revisions to the parking garage, driveway, and residential units above. The PEC recommended approval of this application to the Town Council. However, the application was tabled after the first Town Council meeting. The applicant then decided to rescind the application for a major amendment to the SDD to pursue this current rezoning application. IV. APPLICABLE PLANNING DOCUMENTS Staff finds that the following provisions of the Vail Town Code are relevant to the review of this proposal. 255 Town of Vail Page 4 Title 12 – Zoning Regulations, Vail Town Code Chapter 1 – Title, Purpose, and Applicability (in part) 12-1-2: PURPOSE: A. General: These regulations are enacted for the purpose of promoting the health, safety, morals, and general welfare of the town, and to promote the coordinated and harmonious development of the town in a manner that will conserve and enhance its natural environment and its established character as a resort and residential community of high quality. B. Specific: These regulations are intended to achieve the following more specific purposes: 1. To provide for adequate light, air, sanitation, drainage, and public facilities. 2. To secure safety from fire, panic, flood, avalanche, accumulation of snow, and other dangerous conditions. 3. To promote safe and efficient pedestrian and vehicular traffic circulation and to lessen congestion in the streets. 4. To promote adequate and appropriately located off street parking and loading facilities. 5. To conserve and maintain established community qualities and economic values. 6. To encourage a harmonious, convenient, workable relationship among land uses, consistent with municipal development objectives. 7. To prevent excessive population densities and overcrowding of the land with structures. 8. To safeguard and enhance the appearance of the town. 9. To conserve and protect wildlife, streams, woods, hillsides, and other desirable natural features. 10. To assure adequate open space, recreation opportunities, and other amenities and facilities conducive to desired living quarters. 11. To otherwise provide for the growth of an orderly and viable community. 256 Town of Vail Page 5 Chapter 9 – Special and Miscellaneous Districts (in part) 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 the property's underlying zone district, shall establish the requirements for guiding development and uses of property included in the special development district. Chapter 6, ARTICLE 6H: HIGH DENSITY MULTIPLE-FAMILY (HDMF) DISTRICT 12-6H-1: PURPOSE The High Density Multiple-Family District is intended to provide sites for multiple-family dwellings at densities to a maximum of 25 dwelling units per acre, together with such public and semipublic facilities and lodges, private recreation facilities and related visitor oriented uses as may appropriately be located in the same zone district. The High Density Multiple-Family District is intended to ensure adequate light, air, open space and other amenities commensurate with high density apartment, condominium and lodge uses, and to maintain the desirable residential and resort qualities of the zone district by establishing appropriate site development standards. Certain nonresidential uses are permitted as conditional uses, which relate to the nature of Vail as a winter and summer recreation and vacation community and, where permitted, are intended to blend harmoniously with the residential character of the zone district. 12-6H-2 PERMITTED USES The following uses shall be permitted in the HDMF District: (A) Employee housing units, as further regulated by Chapter 13 of this title; (B) Lodges, including accessory eating, drinking, recreational or retail establishments, located within the principal use and not occupying more than 10% of the total gross residential floor area (GRFA) of the main structure or structures on the site; additional accessory dining areas may be located on an outdoor deck, porch or terrace; and (C) Multiple-family residential dwellings, including attached or row dwellings and condominium dwellings. 12-6H-3 CONDITIONAL USES. 257 Town of Vail Page 6 The following conditional uses shall be permitted in the HDMF District, subject to issuance of a conditional use permit in accordance with the provisions of Chapter 16 of this title: (A) Bed and breakfasts, as further regulated by § 12-14-18 of this title; (B) Communications antennas and appurtenant equipment; (C) Dog kennels; (D) Funiculars and other similar conveyances; (E) Home child daycare facilities, as further regulated by § 12-14-12 of this title; (F) Private clubs and civic, cultural and fraternal organizations; (G) Private parking structures; (H) Private unstructured parking; (I) Public and private schools; (J) Public buildings, grounds and facilities; (K) Public park and recreation facilities; (L) Public parking structures; (M) Public transportation terminals; (N) Public unstructured parking; (O) Public utility and public service uses; (P) Religious institutions; (Q) Ski lifts and tows; and (R) Timeshare units. 12-6H-4 ACCESSORY USES. The following accessory uses shall be permitted in the HDMF District: (A) Home occupations, subject to issuance of a home occupation permit in accordance with the provisions of § 12-14-12 of this title; (B) Private greenhouses, toolsheds, playhouses, attached garages or carports, swimming pools or recreation facilities customarily incidental to permitted residential and lodge uses; and (C) Other uses customarily incidental and accessory to permitted or conditional uses, and necessary for the operation thereof. 12-6H-5 LOT AREA AND SITE DIMENSIONS. The minimum lot or site area shall be 10,000 square feet of buildable area, and each site shall have a minimum frontage of 30 feet. Each site shall be of a size and shape capable of enclosing a square area, 80 feet on each side, within its boundaries. 12-6H-6 SETBACKS. The minimum front setback shall be 20 feet, the minimum side setback shall be 20 feet and the minimum rear setback shall be 20 feet. 12-6H-7 HEIGHT. 258 Town of Vail Page 7 For a flat roof or mansard roof, the height of buildings shall not exceed 45 feet. For a sloping roof, the height of buildings shall not exceed 48 feet. 12-6H-8 DENSITY CONTROL. (A) (1) Not more than 76 square feet of gross residential floor area (GRFA) shall be permitted for each 100 square feet of buildable site area. Total density shall not exceed 25 dwelling units per acre of buildable site area. (2) Each accommodation unit shall be counted as one-half of a dwelling unit for purposes of calculating allowable units per acre. (B) A dwelling unit in a multiple-family building may include one attached accommodation unit no larger than one-third of the total floor area of the dwelling. 12-6H-9 SITE COVERAGE. Site coverage shall not exceed 55% of the total site area. 12-6H-10 LANDSCAPING AND SITE DEVELOPMENT. At least 30% of the total site area shall be landscaped. The minimum width and length of any area qualifying as landscaping shall be 15 feet with a minimum area not less than 300 square feet. 12-6H-11 PARKING AND LOADING. Off-street parking and loading shall be provided in accordance with Chapter 10 of this title. At least 75% of the required parking shall be located within the main building or buildings and hidden from public view or shall be completely hidden from public view from adjoining properties within a landscaped berm. No parking shall be located in any required front setback area. VAIL LAND USE PLAN Land Use Plan Designation: High Density Residential Multi-family High Density includes apartments and condominiums at densities of over 18 dwelling units per acre. Goals and Policies (in part): 1.0 General Growth/Development 259 Town of Vail Page 8 1.1 Vail should continue to grow in a controlled environment, maintaining a balance between residential, commercial, and recreational uses to serve both the visitor and the permanent resident. 1.2 The quality of the environment including air, water and other natural resources should be protected as the Town grows. 1.3 The quality of development should be maintained and upgraded whenever possible. 1.12 Vail should accommodate most of the additional growth in existing developed areas (infill areas). 5.0 Residential 5.1 Additional residential growth should continue to occur primarily in existing, platted areas and as appropriate in new areas where high hazards do not exist. . 5.4. Residential growth should keep pace with the marketplace demands for a full range of housing types. VAIL HOUSING 2027 Goal: The Town of Vail will acquire 1,000 additional resident housing unit deed restrictions by the year 2027. These new deed restrictions will be acquired for both existing homes as well as for homes that are newly constructed by both the Town of Vail and private sector developers. Vision: An Eye on the Future - We envision Vail as a diverse, resilient, inclusive, vibrant and sustainable mountain resort community where year-round residents are afforded the opportunity to live and thrive. We take a holistic approach to maintaining community, with continuous improvement to our social, environmental, and economic well being. We create housing solutions by recognizing and capitalizing on our unique position as North America’s premier international mountain resort community in order to provide the highest quality of service to our guests, attract citizens of excellence and foster their ability to live, work, and play in Vail throughout their lives. Our strategic solutions and actions result in the retention of existing homes, creation of new and diverse housing infrastructure, and collaboration with community partners. For Vail, no problem is insurmountable. With a consistent, community-driven purpose and 260 Town of Vail Page 9 an entrepreneurial spirit, Vail will lead the industry in innovative housing solutions for the 21st century. The Town is well positioned financially to undertake this significant challenge. Mission: Maintaining and Sustaining Community - We create, provide, and retain high quality, affordable, and diverse housing opportunities for Vail residents to support a sustainable year round economy and build a vibrant, inclusive and resilient community. We do this through acquiring deed restrictions on homes so that our residents have a place to live in Vail Policy Statement: Resident Housing as Infrastructure - We acknowledge that the acquisition of deed restrictions on homes for Vail residents is critical to maintaining community. Therefore, we ensure an adequate supply and availability of homes for residents and recognize housing as infrastructure in the Town of Vail; a community support system not unlike roads, bridges, water and sewer systems, fire, police, and other services of the municipal government. VAIL 2020 STRATEGIC ACTION PLAN, LAND USE AND DEVELOPMENT Goal #3: Ensure fairness and consistency in the development review process. Actions/Strategies: Develop a streamlined design review process and include in regulation updates. V. ZONING / SDD NO. 4 ANALYSIS Address: 1476 Westhaven Drive Legal Description: Lot 53, Glen Lyon Subdivision Existing Zoning: Special Development district No. 4 (no underlying zone district) Proposed Zoning: High Density Multiple-Family Existing Land Use Designation: High Density Residential Mapped Geological Hazards: None Standard SDD #4 – Area B High Density Multiple Family (HDMF) Setbacks Per development plan; Front – 20’ Side – 20’ Rear – 20’ Front – 20’ Side – 20’ Rear – 20’ Maximum Height 48’ (47’ existing) Flat or mansard roof – 45’ Sloping roof – 48’ 261 Town of Vail Page 10 Density 65 total units (45 units existing) Total density shall not exceed 25 dwelling units per acre of buildable site area. (132.75 units) GRFA 65,000 sf (approximately 67,000sf existing) Not more than 76 square feet of gross residential floor area (GRFA) shall be permitted for each 100 square feet of buildable site area. (139,444 sf) Site Coverage maximum 35% of the site area 55% of the site area Minimum Landscaping 50% of the site area 30% of the site area Parking Per 12-10-10(B) and 50% of required parking shall be located within the main building or buildings or hidden from view within a landscaped berm. Per 12-10-10(B) and at least 75% of the required parking shall be located within the main building or buildings and hidden from public view or shall be completely hidden from public view from adjoining properties within a landscaped berm VI. SURROUNDING LAND USES AND ZONING Existing Land Use Zoning District North: Multi-family Residences SDD No. 4 East: Multi-family Residences SDD No. 4 South: Eagle Point & Alura developments High-Density Multi-Family West: Gore Creek/ I-70 & Open Space Agricultural & Open Space Zone District mapping – HDMF shown as brown 262 Town of Vail Page 11 VII. ZONE DISTRICT BOUNDARY AMENDMENT CRITERIA Per Section 12-3-7, Amendment, Vail Town Code, before acting on a zone district boundary amendment application, the Planning and Environmental Commission shall consider the following factors with respect to this proposal: 1. The extent to which the zone district amendment is consistent with all the applicable elements of the adopted goals, objectives and policies outlined in the Vail comprehensive plan and is compatible with the development objectives of the town. The application is consistent with the Vail Comprehensive Plan, which includes the Vail Land Use plan, the 2020 Strategic Action Plan, and the Housing 2027 Plan. The proposal meets the applicable goals, objectives, and policies in the plan as detailed in Section IV of this memorandum. Specifically, the land use for this parcel is designated as High Density Residential. The density of this land use is comprised of apartments and condominiums at densities of over 18 dwelling units per acre. Whereas, Coldstream Condominium’s density is well under this limit, as it currently has 45 units on over 4 acres (11.25 units/acre) and the SDD #4 standard for density is set at 65 units. According to the Vail Land Use Plan, the quality of development should be maintained and upgraded whenever possible. The adjacent properties to the south also share the High Density Residential land use designation and also have a zoning of High Density Multiple 263 Town of Vail Page 12 Family, referencing the potential consistency between land use and zoning of similar properties among neighboring sites. In addition, within the 2020 Strategic Action Plan, goal #3 within the section of Land Use and Development aims to ensure fairness and consistency in the development review process. Part of that goal’s strategy is to develop a streamlined design review process and include regulation updates. Moving from the SDD designation to a set zone district would allow for a more streamlined process for both the applicant and staff alike. Staff finds this criteria to be met. 2. The extent to which the zone district amendment is suitable with the existing and potential land uses on the site and existing and potential surrounding land uses as set out in the tow n's adopted planning documents. The subject lot has a land use designation of High Density Residential. The adjacent properties to the south, Eagle Pointe Condominiums and Park Meadows, are zoned High Density Multiple Family (HDMF). Continuing the HDMF zone district to the Coldstream parcel creates a consistency and continuum of zoning with similar uses and scale. Staff believes the proposed development generally furthers the Vail Land Use plan goals, objectives and policies and, therefore, is in general compliance with the Vail Comprehensive Plan. Staff finds this criteria to be met. 3. The extent to which the zone district amendment presents a harmonious, convenient, workable relationship among land uses consistent with municipal development objectives. In line with the Town’s land use goals, the proposal represents an opportunity for rezoning in an established neighborhood and existing condominium complex with the infrastructure to support the allowed uses. The rezoning would expand an existing zone district and remove a portion of the special development district which clarifies development standards for the property owners as well as informing adjacent owners of what may be permitted on the site. Furthermore, it advances the goals of accommodating housing needs at varied sites throughout the community at existing sites and developments. Staff finds this criteria to be met. 4. The extent to which the zone district amendment provides for the growth of an orderly viable community and does not constitute spot zoning as the amendment serves the best interests of the community as a whole. 264 Town of Vail Page 13 The proposed zone district amendment is consistent with the land use plan and provides the appropriate incentives for the orderly development of the subject property. This zoning amendment does not result in the granting of privilege nor is it incompatible with the Vail Comprehensive Plan, two tests for a determination of spot zoning. The Cascade area and surrounding neighborhoods already contain a range of housing options and this proposal will continue those similar uses. Furthermore, the rezoning will allow for the subject site to continue its long history of maintaining the density of housing and sense of community. The purpose of the HDMF zone district is “...intended to ensure adequate light, air, open space and other amenities commensurate with high density apartment, condominium and lodge uses, and to maintain the desirable residential and resort qualities of the zone district by establishing appropriate site development standards”; therefore, the development standards will ensure appropriate, compatible development that in is the best interest of the community. Part of the comprehensive plan is the Land Use plan which designates this area as High Density Residential land use. The proposed zone district of HDMF is in line with the land use for the site. Staff finds this criteria to be met. 5. The extent to which the zone district amendment results in adverse or beneficial impacts on the natural environment, including, but not limited to, water quality, air quality, noise, vegetation, riparian corridors, hillsides and other desirable natural features. The amendment does not have direct impacts that are either adverse or beneficial to the natural environment. Any future development on the parcel will be required to adhere to all applicable environmental standards during development review, construction and operation. Any development in the HDMF zone district will require the approval of the Design Review Board, including site planning, design, and landscaping. Staff finds the proposed rezoning meets this review criterion. 6. The extent to which the zone district amendment is consistent with the purpose statement of the proposed zone district. The proposed zone district amendment is consistent with the purpose of the HDMF zone district, which is: “The High Density Multiple-Family District is intended to provide sites for multiple- family dwellings at densities to a maximum of 25 dwelling units per acre, together 265 Town of Vail Page 14 with such public and semipublic facilities and lodges, private recreation facilities and related visitor oriented uses as may appropriately be located in the same zone district. The High Density Multiple-Family District is intended to ensure adequate light, air, open space and other amenities commensurate with high density apartment, condominium and lodge uses, and to maintain the desirable residential and resort qualities of the zone district by establishing appropriate site development standards. Certain nonresidential uses are permitted as conditional uses, which relate to the nature of Vail as a winter and summer recreation and vacation community and, where permitted, are intended to blend harmoniously with the residential character of the zone district.” The site proposed to be rezoned is consistent with the purpose of the proposed zone district. It permits high density condominiums which is the existing use of the site. Staff finds the proposed rezoning meets this review criterion. 7. The extent to which the zone district amendment demonstrates how conditions have changed since the zoning designation of the subject property was adopted and is no longer appropriate. The subject parcel was annexed into the town of Vail in the early 70’s and at the time, had no underlying zone district to govern its development. At the time of Annexation, the parcel was included in the SDD #4 as its own sub area, Area B. This inclusion meant that the allowed uses and dimensional limitations for this parcel were based on approved plans at each amendment stage. This rezoning to the HDMF zone district will create certainty and predictability for the owners within the complex as well as Town staff, the Planning and Environmental Commission and Town Council. This change would allow the subject property to develop under the process set forth for a regular zone district rather than the process to amend an SDD. This reduces the time that PEC, Town Council, and staff will spend on individual development applications. As noted in the 2020 Strategic Action plan, section of Land Use and Development, goal #3, this will streamline the development process and provide additional clarity on development standards. Staff finds the proposed rezoning meets this review criterion. 8. Such other factors and criteria as the commission and/or council deem applicable to the proposed rezoning. 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 recommends the Planning and Environmental Commission recommend approval 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 1476 Westhaven Dr, Lot 266 Town of Vail Page 15 53, Glen Lyon Subdivision, from the Special Development District No.4 (Cascade Village), Area B, to the High Density Multi-Family (HDMF) District and setting forth details in regard thereto. Should the Planning and Environmental Commission choose to recommend approval for this request, the Community Development Department recommends the Commission pass the following motion: “The Planning and Environmental Commission recommends approval 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 1476 Westhaven Dr, Lot 53, Glen Lyon Subdivision, from the Special Development District No.4 (Cascade Village), Area B, to the High Density Multi-Family (HDMF) District and setting forth details in regard thereto.” Should the Planning and Environmental Commission choose to forward a recommendation of approval, for this request, the Community Development Department recommends the Commission makes the following findings: “Based upon the review of the criteria outlined in Section VII this Staff memorandum to the Planning and Environmental Commission dated February 10, 2025 and the evidence and testimony presented, the Planning and Environmental Commission finds: 1. That the amendment is consistent with the applicable elements of the adopted goals, objectives and policies outlined in the Vail comprehensive plan and is compatible with the development objectives of the town; and 2. That the amendment furthers the general and specific purposes of the zoning regulations; and 3. That the amendment 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. IX. ATTACHMENTS Attachment A. Vicinity Map Attachment B. Applicant Narrative/Project Description 267 Planning and Environmental Commission Minutes Monday, February 10, 2025 1:00 PM Vail Town Council Chambers Present: John Rediker Brad Hagedorn Scott P McBride Robyn Smith David N Tucker William A Jensen Robert N Lipnick 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 an amendment to a Conditional Use Permit, pursuant to Chapter 12- 16, Conditional Use Permits, Vail Town Code, to allow for the addition of a basketball court, located at 725 N. Frontage Rd. West / a portion of Tract C, Vail Potato Patch Filing 1, and setting forth details in regard thereto (PEC25-0001) Planner: Jamie Leaman-Miller Applicant Name: Red Sandstone Elementary School PEC25-0001 Staff Memo.pdf A. Vicinity Map.pdf B. Project Narrative.pdf C. Project Plans.pdf Planner Leaman-Miller gives a short presentation on the conditional use permit (CUP) amendment request. The original conditional use permit was in 2001 for the construction of the existing recreation fields. That approval included an EIR and geologic study. He shows the area in question where the fields are located and the proposed area for the basketball court addition. The court would be an “active recreation area” per Town Code and requires a CUP. He reviews the criteria for review of a CUP. No questions for staff. The applicant is represented by Kevin Foley, Red Sandstone volunteer and Dudley Williams, president of the PTO. The old court was located today where the playground for pre-school sits today. The court was removed so the playground could have a fenced in area. Hagedorn asks if the playground would remain. Foley answers it would. Planning and Environmental Commission Meeting Minutes of February 10, 2025 1 268 Hagedorn asks for staff to point out where in the aerial the court would be. Foley said it would be about 60’ to the west of the existing playground. Jensen asks if it would be available for other sports. Foley says it could have painting for other activities, but main purpose would be to have hoops on either side. One would vary so it could be lowered to accommodate younger kids, the other would be a standard 10’ height. No public comment in the room or online. It is opened for commissioner comments Hagedorn likes it and thinks it meets criteria Jensen supports the application. Lipnick says the criteria is met and supports the application. Smith agrees with staff’s recommendation Tucker is also in support McBride agrees all criteria have been met. Rediker notes this is not a complex application and that this is a use that fits in well with the zone district. Robert N Lipnick made a motion to Approve with the condition on page 7 and findings on page 8 of the staff memo; William A Jensen seconded the motion Passed (7 - 0). 3.2 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 1476 Westhaven Dr, Lot 53, Glen Lyon Subdivision, from the Special Development District No.4 (Cascade Village), Area B, to the High Density Multi-Family (HDMF) District and setting forth details in regard thereto. Planner: Heather Knight Applicant Name: Coldstream Condominium Association, represented by High Summit Planning PEC24-0054 Staff Memo.pdf Attachment A. Coldstream Vicinity Map.pdf Attachment B. PEC24-0054 Applicant Narrative.pdf Planner Knight gives a presentation. She talks about the history of SDD #4 as well as the Coldstream site. She compares the standards of the SDD and the proposed HDMF zoning. She walks through the criteria for a rezoning. Lipnick asks why the Council tabled the previous application? Knight say the applicant decided to table it. They were going through the process of looking at some things with the council review and took a step back to evaluate the path forward. Rediker asks what date Council looked at the previous application. How did we get to this point? Roy says there was discussion about the public benefit, should the employee housing be onsite or offsite? Planning and Environmental Commission Meeting Minutes of February 10, 2025 2 269 Henry Pratt is the architect on project. When they went to council they got seven different opinions, they did not know where they were going. The public benefit wasn’t going to be met, they wanted four additional EHUs. They decided to table and come back in with a HDMF request. Sean Hanagan, with High Summit Planning, says we weren’t able to provide the public benefit that was requested. This mechanism gave us the opportunity to provide other benefits and streamline the review process. It also provides benefits to the Town, this is a way where everyone could benefit. Rediker asks if we can identify other SDDs that are dived similar to SDD #4? Knight does not believe so. Rediker, do we have information on why we developed the sub-areas originally? Roy says they were developed in Eagle County as planned unit development. When it was annexed, the SDD was the closest thing to the PUD, it is fairly unique as to how the Town administers SDDs. Knight talks about some of the amendments to the sub-area 4 over the years. Rediker asks if the development standards for the sub-areas should be looked at separately? Does changes in one area impact the other areas? Knight says it does not, each is unique. If approved, a condition would be that this sub-area is removed from the SDD. Rediker asks what other procedural steps would be involved. Knight walks through the process. Roy says this would not be underlying zoning within the SDD, it would be removed from the SDD with HDMF zoning applied. Rediker and staff walk through the orientation of the five sub-areas with SDD #4. Jensen asks about the benefit from this change. Roy says would lead to a more efficient and predictable process. Jensen asks if the Council would have a say in the rezoning. Roy says yes they would still have to approve. Removing the SDD removes the benefit requirement, but HDMF still has inclusionary zoning requirements. Hagedorn asks how inclusionary zoning requirement compares with the SDD. Roy says there is still inclusionary zoning in the HDMF district. Hagedorn asks if there is a precedent for this. Knight says most of them already have underlying zoning, that is another thing that makes this SDD unique. Rediker, does staff see an issue with what is allowed if this site were completely redeveloped? Knight sats the other limitations such as setbacks, heights, and parking would likely prevent reaching that full capacity of units allowed. Roy says this is high density residential per the land use plan. Matt Gennett, Community Development Directory, says the high density designation in the land use plan Planning and Environmental Commission Meeting Minutes of February 10, 2025 3 270 was added to contemplate a future zoning. Smith talks about the SDD process, by applying zoning we eliminate any type of public benefit that would be required. Knight says yes but there are inclusionary zoning requirements with the HDMF zoning. Smith says this is poentially doubling density, doubling GRFA, increasing in site coverage, giving up second EHU. Knight says the standards do align with the adjacent properties. Rediker says he understands the current request, but we also need to look at the potential future impacts of the request. Lipnick, the setbacks are 20’ on each side? Knight confirms. Hagedorn, procedurally a zone district changes requires Council approval, but a variance does not. Knight says a variance would be conditional upon the rezoning being passed by council. The applicant represented by Sean Hanagan with High Summit Planning, Greg Finch the project manager, and Henry Pratt the architect. Hanagan says there is little change with the proposed project. He gives a presentation. He talks about the unit configuration that they are contemplating. Hanagan and Finch says Council told them they did not want EHUs on site. They did not have a problem with the added GRFA but encouraged us to buy EHUs elsewhere. Hanagan says the public benefit doesn’t have a specific requirement, we were looking for a solution and quantifiable numbers. Pratt says the Council directed us to meet with the Town Manager to determine what the benefit was. We are committing to doing our inclusionary zoning requirements through the Habitat for Humanity program which essentially would be 1.5 units. Smith, you’re adding more free market GRFA which increase the requirement for inclusionary zoning. Hanagan, we figured that this process would clear up some of the confusion, that was the direction we were given. The site does meet the HDMF standards. He talks about the benefits to the zone change, including providing a level of certainty and predictability, applying zoning to an area that has no underlying zoning. Increases alignment by matching zoning to land use, which calls out this site for high density residential. Pratt, Council says they don’t like SDDs because they’re considered spot zoning. By changing this to HDMF were getting rid of spot zoning. Rediker asks if there are any images showing the setbacks. Pratt says they’re 20’ on all sides the same in HDMF. There is nothing existing in the setbacks except a small portion on the southwest corner. Rediker says we need to look at development potential with this as well. We’re being called on to approve potentially over 120 units which is double the existing density. McBride asks if this is approved, what is the next step? Are we going to be back here again with Council asking the same questions? Planning and Environmental Commission Meeting Minutes of February 10, 2025 4 271 Knight says if approved it would go to Council. The public benefit piece that was at issue would be taken out of the equation. There is a different set of criteria. McBride remains concerned about the development potential Shares concerns about the amount of potential density. If approved, Council still might demand more because of the potential increased density. Hanagan says they could make decisions, but there is a set of criteria to be looked at. The public benefit is not a discussion with a zone change. Roy says the applicants are of that potential and the process required with a rezoning. The housing section has exceptions where the inclusionary requirements don’t have to be met on site. Finch talks about some of the considerations in their pro forma. I know that’s not your concern but if the project can’t pay for itself it wont happen. At seven units it does, at five it does not. Jensen says the project hasn’t meaningfully changed except the EHUs have moved off site. Hanagan, we have been good listeners and have done our best to balance the needs of all parties. Council had no issue with additional GRFA because we were well below adjacent properties. They told use they wanted EHUs offsite. We’re not asking for anything that the PEC and Council weren’t comfortable with. Rediker asks about the decision making in 1981 when the numbers were set, why the sub-areas and how were those specific numbers set? Roy says there is not a clear record on that. Pratt says he worked on almost all of these parcels. The original developer did not have the wherewithal for whole thing and broke it out into parcels for different developers. Everything was broken into sections so it could be developed individually by different developers. Hagedorn says some of those numbers may have come from the original PUD. Hanagan adds they might have tried to match the original county numbers. Smith, looking at the 1978 minutes, this area hasn’t provided public benefit for 40 years, I would consider accepting that reality. This zone district is a realistic understanding of the existing conditions and matches the land use designation. Finch, this fixes part of the regulations and would encourage development that is a public benefit. Hanagan, there is benefit here in providing a predictable zone district. In 2009, high density residential was identified for this site in the land use plan. Finch understands concern about future redevelopment. Right now that is the farthest thing from anybody’s mind, especially with 45 different owners. Tucker says the standards prevent the realization of that many units. Hanagan says the parking, landscaping requirements would make it very difficult to realize that many units on the site. Rediker would like to see the minutes from 1981. This area could be environmentally sensitive, it is bordered by Gore Creek. Jensen asks about the Habitat program. Planning and Environmental Commission Meeting Minutes of February 10, 2025 5 272 Finch talks about the details of the Habitat program. Jensen and Finch discuss financing for housing. Smith recaps the zero onsite units, and fee-in-lieu to meet the Housing requirements. It’s not in our purview to consider some of these discussions. The Council will have to make their own decisions. Rediker asks for public comment. Augosto Alvarez is an owner at Unit 7. He thanks community for the hard work they do. Reiterates what Finch was saying, the whole objective is to do something about the tennis courts and garbage shed that have been neglected for 20 years. The HOA is not doing this to make a profit, we’re doing as it is the best way to pay for the needed renovations because the way it’s going is not sustainable. Rediker asks for commissioner comment. Hagedorn, there is a lot around the edges of the application. Looking at this application, he is in favor of the rezoning. We have seen a lot of the headaches that the SDDs have created, creating underlying zoning that is consistent and predictable is an asset. Doesn’t love the horse trading around the EHUs, will keep comments muted on that. People should have set expectations going in, it shouldn’t be subject to negotiations. The point isn’t to prevent construction down the road, if it’s in line with what the land use shows. There are guardrails with the other standards that would prevent full realization of the allowable density. The Town has changed drastically since the origin, the latest touchpoint is the 2009 land use plan which identifies high density for this parcel. It is highly sensitive site for Gore Creek, our other initiatives should address environmental concerns with redevelopment. He is confused about the off-site EHU discussion, the beauty of moving to HDMF is that the discussion is simplified, you simply have to comply with the inclusionary zoning requirements. It is a set number, not an amorphous discussion around public benefit. The application is consistent with the criteria, consistent with goals, land use, reversing spot zoning and adding consistency with surroundings, consistent with the purpose statement, and demonstrates how conditions have changed. Jensen says it meets the criteria, takes staff’s recommendation seriously. This is the applicant’s issue but is concerned that the Council has different expectations here. Lipnick supports the application. It meets the criteria. His role on this commission isn’t to figure out what the Council is thinking. Smith says that for 35 years the PEC and Council have tried to leverage EHUs out of this area. After 35 years we can say that effort is a failure. This meets the criteria. There is not the infrastructure to support the full density on this site, however the land use plan is high density residential. Whatever the Council was thinking with the tabling, the solution we have arrived at is zero public benefit. Supports the rezoning and it will be interesting to see how it plays out. Tucker says this meets the criteria. There are some concerns about potential future development, not the current plan. Share concerns about the river, there was discussion about sand oil separators with previous iteration. The standards will prevent too much bulk and mass on the site, he is in support. McBride has concerns not about the current plan, but if the high density was fully realized down the road. His bigger concern is with the whole process and discussion after the meeting which would not be on the record, it would benefit applicants moving forward to understand the expectations. Rediker is less than pleased that we are having to consider this application. It’s unfortunate, we had a application that cleaned up this area and was approved by the PEC. He hasn’t seen evidence that this is not excessive density for the site. He supported this application in its previous form. Believes the applicant’s arguments are accurate, but is concerned about the potential for development, haven’t seen Planning and Environmental Commission Meeting Minutes of February 10, 2025 6 273 information to be comfortable with criteria 2. He would like to have seen more information and exhibits. Appreciates the applicant’s efforts to make this project work, appreciates Habitat working with you, these are good efforts. Has a real problem with rezoning this four acre parcel that is bordered on most sides by Gore Creek and the potential for the future, not with the current plans. Criteria 2,3,5, and 7 are not met. We have to acknowledge the location is probably not suitable for HDMF. Jensen moves to approve with findings on page 15, and condition provided today. Smith seconds. Motion carries 5-2 William A Jensen made a motion to Recommend for approval with the condition that staff shall amend Special Development District (SDD) #4 to remove planning Area B and the findings on page 15; Robyn Smith seconded the motion Passed (5 - 2). Voting For: William A Jensen, Robert N Lipnick, Robyn Smith, Brad Hagedorn, David N Tucker Voting Against: John Rediker, Scott P McBride 3.3 A request for review of a variance from Section 12-6H -6 Setbacks, Vail Town Code, pursuant to Title 12 Chapter 17, Variances, Vail Town Code, to allow for a below grade parking garage located within the required twenty- foot (20’) side setback, located at 1476 Westhaven Dr, Lot 53, Glen Lyon Subdivision, and setting forth details in regard thereto. (PEC24-0053) Planner: Heather Knight Applicant Name: Coldstream Condominium Association, represented by High Summit Planning PEC24-0053 Staff Memo.pdf Attachment A. Coldstream Condos - Vicinity Map.pdf Attachment B. Applicant Narrative.pdf Attachment C. Architectural Plan Set.pdf Attachment D. Site Grading and Landscape Plan.pdf Attachment E. Title Commitment.pdf Planner Knight gives a presentation. She walks through the site plan and variance request. The driveway would be updated to meet fire equipment requirements. The need for this pushed the building further to south, making it necessary to come into the setback below grade. She walks through the zoning analysis and review criteria. Pratt, you have approved this once before, nothing has changed from that request. Rediker asks have the changes to the west unit impacted the request? Pratt says there are many instances in Town where underground parking goes into the setback. Smith, previously we looked at this and the deviation was public benefit. What is the hardship? Pratt, there are numerous instances in town where this condition has been approved. With the space needed between fire lane, there isn’t enough space south of the fire plane to accommodate double-loaded parking. Rediker asks for public comment. There is none. Public comment closed. Hagedorn says his previous comments apply. Jensen has no additional questions, supported this the last time. Planning and Environmental Commission Meeting Minutes of February 10, 2025 7 274 Lipnick has no further comments. Smith says it meets the criteria and findings. The variance is necessary to provide relief for the fire truck turning. Tucker has no additional comments from last time. McBride has no further comments. Rediker has no further thoughts. Supported this last time, not in support now only because the variance is being requested as part of a development application which is contingent upon the rezoning. He doesn’t support the rezoning so it’s not appropriate to support this. McBride supported last time, is not supportive this time. It’s the conditionality of the request. Brad Hagedorn made a motion to Approve with the conditions on page 11 and the findings on page 11-12 of the staff memo; David N Tucker seconded the motion Passed (5 - 2). Voting For: William A Jensen, Robert N Lipnick, Robyn Smith, Brad Hagedorn, David N Tucker Voting Against: John Rediker, Scott P McBride 4. Approval of Minutes 4.1 PEC Results 1-27-25 PEC Results 1-27-25.pdf Robert N Lipnick made a motion to Approve ; William A Jensen seconded the motion Passed (7 - 0). 5. Information Update Roy says there is a joint meeting with Council next Tuesday afternoon. Smith talks about objectives to establish a recommendation process and talk about suggestions from the last year. Roy talks about commissioner terms and applications. 6. Adjournment Robyn Smith made a motion to Adjourn ; Brad Hagedorn seconded the motion Passed (7 - 0). Planning and Environmental Commission Meeting Minutes of February 10, 2025 8 275 Coldstream Town Council 4/15/25 276 History of Coldstream •No underlying zoning when annexed from Eagle County •Included in SDD#4-Area B=Orphaned •Completed in 1981 •Amended last 2008 277 Zone Change Advantages The Advantages include: 1.Coldstream Condominiums has no underlying zoning. Applying the HDMF zone district to this parcel will formally quantify the allowable density and dimensional limitations allowed for future development. 2.This Zone Change would “clean up” the zoning map for the Town of Vail 3.The HDMF zone district will provide a level of certainty and predictability to Staff, Commissions, and Owners as to the limits of development for this parcel in the future. Helps the Applicant and PEC Play buy the rules 278 Zone Change Advantages 4. The change would allow for a streamlined process for additional development that does not require as much Staff time and Council meetings to evaluate future changes. 5. Increase alignment with the current Town of Vail Land Use Plan which has designated Coldstream’s land use type as“High Density Residential” 6. Create consistency with surrounding adjacent Zone Districts and land uses. Both parcels to the Southwest of Coldstream, Eagle Pointe Condominiums and Alura, are zoned HDMF 279 Z o n e C h a n ge Advantages 6. Increase alignment with the current Town of Vail Land Use Plan. 280 Criteria for Zone Change The extent to which the zone district amendment is consistent with all the applicable elements of the adopted goals, objectives and policies outlined in the Vail comprehensive plan and is compatible with the development objectives of the town. •The application is consistent with the Vail Comprehensive Plan, which includes the Vail Land Use plan, the 2020 Strategic Action Plan, and the Housing 2027 Plan. •2020 Strategic Action Plan, goal #3 •Aims to ensure fairness and consistency in the development review process •Develop a streamlined design review process and include regulation updates •Moving from the SDD designation to a set zone district would allow for a more streamlined process 281 Criteria for Zone Change The extent to which the zone district amendment is suitable with the existing and potential land uses on the site and existing and potential surrounding land uses as set out in the town's adopted planning documents. 282 Criteria for Zone Change The extent to which the zone district amendment presents a harmonious, convenient, workable relationship among land uses consistent with municipal development objectives. •Expands an existing adjacent zone district and removes area B of the special development district •Creates a clarity of process and development standards for the property owners as well as informing adjacent owners of what may be permitted on the site 283 Criteria for Zone Change The extent to which the zone district amendment provides for the growth of an orderly viable community and does not constitute spot zoning as the amendment serves the best interests of the High-Density. •This zoning amendment does not result in the granting of privilege nor is it incompatible with the Vail Comprehensive Plan, two tests for a determination of spot zoning •The Land Use plan designates this area as High-Density Residential land use. The proposed zone district of HDMF is in line with the land use for the site 284 Criteria for Zone Change The extent to which the zone district amendment results in adverse or beneficial impacts on the natural environment, including, but not limited to, water quality, air quality, noise, vegetation, riparian corridors, hillsides and other desirable natural features. •The amendment does not have direct impacts that are either adverse or beneficial to the natural environment •All future development must meet all applicable environmental standards •All development in the HDMF zone district will require the approval of the Design Review Board, including site planning, design, and landscaping 285 Criteria for Zone Change The extent to which the zone district amendment is consistent with the purpose statement of the proposed zone district. •The proposed zone district amendment is consistent with the purpose of the HDMF zone district, which is: •A maximum of 25 dwelling units per acre •Intended to ensure adequate light, air, open space and other amenities commensurate with high density apartment, condominium and lodge uses •HDMF permits high density condominiums which is the existing use of the site 286 Criteria for Zone Change The extent to which the zone district amendment demonstrates how conditions have changed since the zoning designation of the subject property was adopted and is no longer appropriate. •Annexed into the town of Vail in the early 70’s with no underlying zoning and added to SDD #4 as area B •This change would allow the subject property to develop under the process set forth for a regular zone district •This will streamline the development process and provide additional clarity on development standards 287 Summary •Creates an underlying zone district •Increases compatibility with surrounding zone districts/uses •Allows for more streamlined predictable process/development •Increases conformance with Vail Land Use Plan Land Use Map and Goals •“Cleans Up” the zoning map •Provide new level of certainty for staff, commissions, and owners 288 Coldstream Condominiums Zone Change 1 Coldstream Zone Change 289 Coldstream Condominiums Zone Change 2 Over the past 40 years the Coldstream Condominium Owners Association has taken many steps to continually upgrade and improve their community. Recently the Association has been evaluating the feasibility of implementing a relatively small but important improvement program that would involve the addition of five new residential units, one EHU and a number of other on-site improvements. In order to implement this plan a Zone Change from Special Development District to High Density Multi Family is being sought. The following provides an explanation of the proposed re-development plans and associated benefits, background on the Coldstream Condominiums, a summary of existing and proposed development, an evaluation of alternative review processes, a bullet-point response to Zone Change review criteria and a summary of the proposed project. 290 Coldstream Condominiums Zone Change 3 Existing Conditions. To the south lies the Park Meadow (now Alura Vail) site and Eagle Pointe. • To the east is Westhaven Drive. • To the west is the westernmost building in the Coldstream complex. • The site is currently used for surface parking, an unusable tennis court, a run down and unused Clubhouse Building and individual open carports that line the access drive and which are in need of new roofs and trim. 291 Coldstream Condominiums Zone Change 4 Proposed Re-development/Benefits of Project Major elements of the re-development plans include the construction of five new free- market condominiums, one new employee housing units, a new parking garage and associated site improvements. There are several other improvements that are being considered as a part of this project. S pecific improvements under consideration include: 1. To remove the surface parking, tennis court, clubhouse building and open carports on the south de as well as those on the north side. 2. Build enclosed, minimally heated garage to replace existing carports and surface parking, plus 2 spaces for each new unit, including EHU. Entrance to garage is on the north side due to slope of Westhaven and the access drive and exit is at the west end. 3. Build 3 duplexes on top of garage to help pay for garage. Five units at slightly over 2000 SF (~2,160) and one unit at ~1,656 SF. 4. Roof of garage to be fully landscaped except at west end where adjacent Owners have requested we stay as low as possible. The roof in that area will be ballasted membrane. 5. Access to all units to be via exterior heated stairs. Dwelling units will also have individual elevators from garage to both living levels. 6. Entrance to Coldstream from Westhaven will be widened and relandscaped to make it easier to come and go. Existing sign to remain. Issues to consider: 1. Garage extends into setback to within 5' of property line but is buried along south property line to minimize impacts to off-site neighbors. Height of garage is only minimally higher than what exists along current access drive (we need 10' clear inside garage to accommodate Sprinter type vans). 2. Exterior finishes on garage will be a mix of stone veneer to match the Coldstream standard and EIFS stucco with a grid pattern to mimic a trellis (not much will grow on north side but we will see what options we can come up with). 3. Previous PEC comments were directed at exposed height of walls along Westhaven at east end. We have revised the grades and plantings to bury and hide as much of this wall as possible. 292 Coldstream Condominiums Zone Change 5 Background on the Coldstream Condominiums The Coldstream Condominiums were completed in 1981 and include 45 residential condominiums and other related improvements including on-site parking, extensive landscaping, pool, spa, cabana, tennis court and a racquetball/squash court. Coldstream has approximately 23 units included in the Vail Cascade short term rental program. With the opening of the Cascade Club [Aria] in 1987 (with its seven tennis courts and six racquetball/squash courts), the Coldstream tennis and racquetball/squash facilities became obsolete as Coldstream owners are able to utilize Cascade Club facilities. Since that time the racquetball/squash court has been adapted to property and rental management use and the tennis court is seldom used. In late 1990 an amendment to HDMF4 was proposed and recommended by Community Development Department [9/24/90] to approve a small increase in GRFA and clarify other development standards. The plan included the renovation of the courts building into property management facilities and storage as well as two employee restricted units. Because of financing difficulties, the project was never implemented. Since it’s opening in the early 1980’s the Coldstream Association has been very diligent in maintaining and upgrading the project. In 1995, Coldstream owners expended $1.0 million to replace the roofs and make substantial site/landscape improvements. In 2002 the Association spent a considerable amount of money to bring natural gas into the project. In 2004, the Board prepared a phased redevelopment plan for the project. The first phase consisted of replacing all building exteriors: siding, windows, doors and extensive landscape and site improvements at a cost of $6.2 million. These improvements were completed in 2006. The second phase is to replace the court facilities and carports which are deteriorating. In 2002 the Association spent a considerable amount of money to bring natural gas into the project. In 2004, the Board prepared a phased redevelopment plan for the project. The first phase consisted of replacing all building exteriors: siding, windows, doors and extensive landscape and site improvements at a cost of $6.2 million. These improvements were completed in 2006. The second phase is to replace the court facilities and carports which are deteriorating. As evident by this proposal, Coldstream owners continue to demonstrate their commitment to an aggressive maintenance and improvements program for their project. 293 Coldstream Condominiums Zone Change 6 Existing and Proposed Development Coldstream is situated on an approximately 4.21 acre (+/-183,479 sf) parcel designated as Area B in Special Development District 4 (SSD No. 4, Cascade Village). The property does not have underlying zoning as it was annexed into the Town with the creation of HDMF4. SDD #4 Area B development standards include: Dwelling units Allowed 65 Existing 45 Setbacks 20/20/20 20 Parking Spaces 68 77 Height 45' flat / 48' sloped 48 ft Review Process: Zone Change § 12-3-7 AMENDMENT The process of amending the official Zoning Map outlined in Section 12-3-7 is the most appropriate process for this project and has multiple benefits to the town as well as the Commissions. The benefits include: 1. Although included in SDD 4, Coldstream Condominiums has no underlying zoning. Applying the HDMF zone district to this parcel will formally quantify the allowable density and dimensional limitations allowed for future development. 2. This Zone Change would “clean up” the zoning map for the Town of Vail by assigning an underlying zone district to the Coldstream Condominiums. 3. The HDMF zone district will provide a level of certainty and predictability to Staff and Commissions as to the limits of development for this parcel in the future. 4. The change would allow for a streamlined process for additional development that does not require as much Staff time to evaluate future changes. 5. Create consistency with surrounding adjacent Zone Districts and land uses. Both parcels to the West of Coldstream, Eagle Pointe Condominiums and Alura, are zoned HDMF. 294 Coldstream Condominiums Zone Change 7 As outlined above, the proposed improvements could be constructed in accordance with existing HDMF development standards with the exception of a single setback (for the below grade portion of the garage adjacent to the south property line). Please see separate Variance Application. HDMF standards Comparison: Purpose-The High Density Multiple-Family District is intended to provide sites for multiple-family dwellings at densities to a maximum of 25 dwelling units per acre, together with such public and semipublic facilities and lodges, private recreation facilities and related visitor oriented uses as may appropriately be located in the same zone district. The High Density Multiple-Family District is intended to ensure adequate light, air, open space and other amenities commensurate with high density apartment, condominium and lodge uses, and to maintain the desirable residential and resort qualities of the zone district by establishing appropriate site development standards. Certain nonresidential uses are permitted as conditional uses, which relate to the nature of Vail as a winter and summer recreation and vacation community and, where permitted, are intended to blend harmoniously with the residential character of the zone district. Existing HDMF1 Proposed Setbacks (Fr/S/R) 20/15/20 20/20/20 20/152/20 Density 45 25 DU / Acre 50 Allowable GRFA 66,898 SF 139,444 SF 77,712 SF (+13%) Site Coverage 42,689 SF4 55% (100,913 SF) 56,957 SF (89%) Landscaping 88,686 SF 30% 91,925 SF (1783 SF)5 Height 48' 45' flat / 48' sloped 47' (to ridge) Parking per Chap 10 75% hidden 2 spaces per new unit (enclosed) (*) – Or as otherwise indicated on site specific development plan. (**) – 50% of required parking shall be located within the main building or buildings or hidden from view. With the exception of the setback (for the substantially below grade parking structure), the proposed addition can be constructed in accordance with all applicable development standards outlined by HDMF. The following summarizes how the proposed amendment/addition would affect zoning/development standards: 295 Coldstream Condominiums Zone Change 8 Dwelling Units The five proposed condominium units would increase project density from 45 to 51 units, well below the maximum allowable of 65 units in the current SDD #4. GRFA The seven condominiums would add approximately 15,000 sq ft of GRFA to the site for a total of 82,000 SF. The HDMF zone district standards would allow a maximum of 139,444 SF. Site Coverage Proposed improvements would increase site coverage from +/-42,689 to +/- 58,681 sq ft, or 32% of the site. The allowable site coverage is 55% (100,913 SF). Existing and proposed site coverage diagrams are found at the end of this report. Landscaping Detailed landscape plans have been attached, the final design solution the total landscaping of the entire site will increase from +/- 48% to +/-50%. This is well above the minimum requirement of 30%. Existing and proposed conceptual landscape diagrams are found at the end of this report. Parking There are presently approximately 77 parking spaces at Coldstream. These spaces include surface spaces, parking in carports and garage parking within individual units. The parking requirement for the new addition would involve replacing any existing parking displaced by the project and providing parking for the new development 6 x 2.5 for units 1-6 = 15 spaces spaces for unit 7 = 2 Replacement spaces = 42 Total required= 59 Total in garage = 60 Total surface = 3 Existing to remain = 5 Total spaces = 68 This would exceed parking requirements. Height The HDMF allows for building height of 48’. The proposed improvements will be designed within this limitation. Setbacks 20’ setbacks are required by HDMF. The residential buildings would conform to this standard; however the parking garage would be located within a few feet of the south property line. At the south property line, the majority of the parking garage 296 Coldstream Condominiums Zone Change 9 would be below grade and at the highest point would only extend 6-8 feet above grade. Please see separate Variance application. Zone District Comparisons: Existing HDMF#4 HDMF Proposed Setbacks (Fr/S/R) 20/15/20 Per Plans 20/20/20 20/152/20 Density 45 65 25 DU / Acre 50 Allowable GRFA 66,898 SF 65,000 SF 139,444 SF 77,712 SF (+13%) Site Coverage 42,689 SF4 35% (64,218 SF)3 55% (100,913 SF) 56,957 SF (89%) Landscaping 88,686 SF 91,740 (50% u.n.o.) 30% 91,925 SF (1783 SF)5 Height 48' 48' 45' flat / 48' sloped 47' (to ridge) Parking per Chap 10 50% hidden 75% hidden 2 spaces per new unit (enclosed) 1: no underlying zoning applies here, Neighboring properties are HDMF. 2: above grade (5' below grade) 3: 45% site coverage with institutional or educational center 4: existing site coverage to be replaced: Courts Bldg. (1856.5), North Parking (1896.7), trash (235), south-west parking (4226.1): total = 8214.3 SF 5: hardscape is new added (existing hardscape unknown) The adjacent properties to the south, Eagle Pointe Condominiums and Alura, are zoned HDMF. As a point of comparison, if HDMF zoning were applied to Coldstream parcel the allowable number of units would increase to 105 and the allowable GRFA would increase to 139,444 sq ft. This amount of GRFA is over twice that permitted by the SDD 4 and greatly exceeds the GRFA proposed by these improvements. 297 Coldstream Condominiums Zone Change 10 Compatibility with surrounding uses Figure 1-View of proposed development adjacent to Alura development. Figure 2-View of proposed development adjacent to Alura development. 298 Coldstream Condominiums Zone Change 11 Zone Change Review Criteria 1. The extent to which the zone district amendment is consistent with all the applicable elements of the adopted goals, objectives and policies outlined in the Vail Comprehensive Plan and is compatible with the development objectives of the town; The Vail Comprehensive plan seeks to provide logical and coherent zoning plan that demonstrates quality planning principles. Changing the parcels to High Density Multi Family creates a logical and orderly zone district that is harmonious with the adjacent parcels zoned HDMF. 2. The extent to which the zone district amendment is suitable with the existing and potential land uses on the site and existing and potential surrounding land uses as set out in the town’s adopted planning documents; The Existing land uses are in conformance with the surrounding land uses of residential. Adjacent Zoning (HDMF) Adjacent Land Use (Residential) 3. The extent to which the zone district amendment presents a harmonious, convenient, workable relationship among land uses consistent with municipal development objectives; • The HDMF zone district will provide a level of certainty and predictability to Staff and Commissions as to the limits of development for this parcel in the future. • Create consistency with surrounding adjacent Zone Districts and land uses. Both 299 Coldstream Condominiums Zone Change 12 parcels to the West of Coldstream, Eagle Pointe Condominiums and Alura, are zoned HDMF. 4. The extent to which the zone district amendment provides for the growth of an orderly viable community and does not constitute spot zoning as the amendment serves the best interests of the community as a whole; The proposed zone district amendment is consistent with the land use plan and provides the appropriate incentives for the orderly development of the subject property. This zoning amendment does not result in the granting of privilege nor is it incompatible with the Vail Comprehensive Plan, two tests for a determination of spot zoning. 5. The extent to which the zone district amendment results in adverse or beneficial impacts on the natural environment, including, but not limited to, water quality, air quality, noise, vegetation, riparian corridors, hillsides and other desirable natural features; This Zone District Amendment shall have no detrimental impacts to the natural environment. The new construction will require new BMP’s to mange any runoff from the new garage. 6. The extent to which the zone district amendment is consistent with the purpose statement of the proposed zone district; “The High Density Multiple-Family District is intended to provide sites for multiple-family dwellings at densities to a maximum of 25 dwelling units per acre, together with such public and semipublic facilities and lodges, private recreation facilities and related visitor-oriented uses as may appropriately be located in the same zone district. The High Density Multiple-Family District is intended to ensure adequate light, air, open space and other amenities commensurate with high density apartment, condominium and lodge uses, and to maintain the desirable residential and resort qualities of the Zone district by establishing appropriate site development standards. Certain nonresidential uses are permitted as conditional uses, which relate to the nature of Vail as a winter and summer recreation and vacation community and, where permitted, are intended to blend harmoniously with the residential character of the zone district.” The proposed Zone Change to High Density Multi Family demonstrates consistency with the above purpose statement. The current project is designed to provide adequate light, air, and open space and maintains a desirable level of resort and residential qualities. The dimensional limitations of the HDMF zone district will ensure that any subsequent re-development will also demonstrate consistency with zone district’s purpose and intent. 300 Coldstream Condominiums Zone Change 13 7. The extent to which the zone district amendment demonstrates how conditions have changed since the zoning designation of the subject property was adopted and is no longer appropriate; and The subject parcel was annexed into the town of Vail in the early 70’s and at the time had no underlying zone district to govern its development. At the time of Annexation, the parcel was included in the SDD #4 (Cascade Village Special Development District). This inclusion meant that the allowed uses and dimensional limitations for this parcel were based on approved plans at each amendment stage. This assignment of the HDMF zone district will create certainty and predictability for the owners within the complex as well as the Planning and Environmental Commission and the Town Council. The following criteria are used to evaluate a proposed Zone Change: 1. That the amendment is consistent with the applicable elements of the adopted goals, objectives and policies outlined in the Vail Comprehensive Plan and is compatible with the development objectives of the town; The application is consistent with the Vail Comprehensive Plan, which includes the Vail Land Use Plan, the 2020 Strategic Action Plan, and the Housing 2027 Plan. The proposal meets the applicable goals, objectives, and policies in the plan. 5.1. Additional residential growth should continue to occur primarily in existing, platted areas and as appropriate in new areas where high hazards do not exist. 5.3. Affordable employee housing should be made available through private efforts, assisted by limited incentives, provided by the Town of Vail, with appropriate restrictions. 5.4. Residential growth should keep pace with the market place demands for a full range of housing types. 5.5 The existing employee housing base should be preserved and upgraded. Additional employee housing needs should be accommodated at varied sites throughout the community. The Coldstream development is working in collaboration with Habitat for Humanity to provide employee housing units in the Timber Ridge development. Inclusionary Zoning requires a 10% mitigation rate. This additional development will generate the requirement for 1,400 SF of new EHU development. 301 Coldstream Condominiums Zone Change 14 2. That the amendment furthers the general and specific purposes of the zoning regulations; and • Although included in SDD 4, Coldstream Condominiums has no underlying zoning. Applying the HDMF zone district to this parcel will formally quantify the allowable density and dimensional limitations allowed for future development. • This Zone Change would “clean up” the zoning map for the Town of Vail by assigning an underlying zone district to the Coldstream Condominiums. • The HDMF zone district will provide a level of certainty and predictability to Staff and Commissions as to the limits of development for this parcel in the future. • The change would allow for a streamlined process for additional development that does not require as much Staff time to evaluate future changes. • Create consistency with surrounding adjacent Zone Districts and land uses. Both parcels to the West of Coldstream, Eagle Pointe Condominiums and Alura, are zoned HDMF. 3. That the amendment 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 Project Summary The revenue to be derived from the five condominiums is clearly the “economic engine” necessary to fund other improvements to Coldstream – the employee housing unit, and the development of a parking garage. Contrary to a “traditional development project”, the six condominiums will not bring a windfall of profits to the Association but rather will allow for the implementation of Phase II of the Association’s redevelopment master plan and in doing so further their tradition of continually maintaining and upgrading their community. With approximately one-half of Coldstream’s units involved in a short-term rental program, the project plays an important role in providing the Town with guest accommodations. In addition, the lodging/sales tax revenues to the Town generated by Coldstream are not insignificant. The improvements that can be made to the project via this re-development plan will improve Coldstream’s ability to serve the lodging market and in doing so provide benefits to the entire Vail 302 Coldstream Condominiums Zone Change 15 community. This Zone District Amendment would also provide the following benefits: • This Zone Change would “clean up” the zoning map for the Town of Vail by assigning an underlying zone district to the Coldstream Condominiums. • The HDMF zone district will provide a level of certainty and predictability to Staff and Commissions as to the limits of development for this parcel in the future. • Create consistency with surrounding adjacent Zone Districts and land uses. Both parcels to the West of Coldstream, Eagle Pointe Condominiums and Alura, are zoned HDMF. 303 I r m F aK r j I' I F ^ J f x," r. j . N SCALE ' n n nr r i I AIT[ HORZONTAL LAYOUT o v o h D y6 N SEE SHEET 2 of 12 FOR HORZONTAL LAYOUT 5 P. 2 13 VICINITY MAP SCALE 1= 2000' r--v ` . r--. s FOo B. O F LEGEND G.C.E. A GENERAL COMMON ELEMENT (GCE ) COLDSTREAM LC.E. LIMITED COMIMON ELEMENT (LCE) CONDOMINIUMS LOT 53 BOUiNDARY LOT 53 OF _»_.. PHASE BOUMIDARY AMENDED GLEN LYON PLAT --b PROPERTY PI NS BOOK 272 -- FIRE LANE LIMITS PAGE 370 -' OF THE RECORDS PARTITION 'WALL FOR REFERENCE OF EAGLE COUNTY, ONLY. COLORADO _ FIRE LANE OR PHASE LINE ANGLE POINT. UNIT 99 REFERS T0 IN IVIDUAL CONDOMINIUM UNIT. r CURVE DATA, REFERENCE NUMBER FOR FIRE LANE CURVE DAT 1 REFERENCE NUMBER FOR PHASE I LIMITS SURVEYOR'S CERTIFICATE I, TOMMY C. COBB, A REGISTERED LAND SURVEYOR, REGISTERED UNDER TIiE LAWS OF THE STATE OF COLORADO, DO FiEREBY CERTIFY THAT THE SURVEY OF COLDSTREA 1 CONDOPIINIUMS WAS ^'IADE UNDER MY SUPERVISION AND THAT THIS PLAT ACCURATELY SHOWS THE PLATTING AND SUBDIVISIO'.1 OF SUCH COLDSTREAM CO'.1DO ti1INIUMS . THE LOT CORNERS AND BOU:IDARY CORNERS HAVE BEEti SliRVEYED IV COMPLIaNCE WITH APPLICANT'S REGULATIONS GOVF.RNING THE SUBDIVISIO'V OF LAND. IN WITNESS WFiEREOF I f AVE SET MY HA`:D A'.VD SEAL THIS , DAY OF , . , 1979. i y' f O'.`MY C. OBB, L.S. J# 13174 NOTES: I. ALL WINDOWS AND DOORS ARE INDIVI UAL OWNERSHIP. SEE TY'PICAL WINDOW a DOOR DIAGRAMS. 2.AIVYTHING NOT SHOWN AS L.C.E., G.C.E. OR SPECIFIED AS A UNIT IS GENER,AL COMMON ELEMENT. i.e.- FIRE LANES, PARKING, UTILITIES, AND RACQUETBALL, TENNIS FACILITIES. 3. BUILDINGS WITH CROSS HATCHING DENOTE UNITS PLATTED BY THIS DOCUMENT, KNOWN AS PHASE I. 4. ALL BALCONIES 8 DECKS ARE LIMITED COMMON ELEMENTS FOR ADJIACENT UNITS. CONDOMINtUM MAP OF R sHEEr i of iz ON A PORTION OF LOT 53 OF T-IIE AMENDED PLAT OF GLEN LYON SUBDIVISION LOCATED IN SECTION 12 ,TOWNSHIP 5 SOUTH, RANGE 81 WEST, S IXTH PRI NCI PAL MERI D I AN,TOWN OF VAI L, COUNTY OF EAGLE, STATE OF COLORADO nuncr -r i II AITC HORIZONTAL LAYOUT 0 = 69°22 44 R= 175.00, L= 21 I .90 C= 199.19 O jL p J a0 h V Q 3 0D ti r^' , V 9°24 08 W I I. 12' EXTERIOR WALL G.C.E 90°00 R = 17 50 L = 27.49 C = 24.75 EXT E RIOR W I N DOW 0 R DOOR APPROVAL AND CONSENT TO CONDOPIINIUM MAP EMPIRE SAVINGS, BUILDING AND LOAN ASS O/CIATION, AS BENEFICIARY OF QDEED OF TRUST CORDED ___%%t3t ! A.D., 19_ IN BOOK e AT PAGE HEREBY APPROVES AND CONSENTS TO THIS CONDOMINIUM I 1AP AND SUBORDINATES IT'S INTEREST IN SUCH DEED OF TRUST TO THIS CONDOMINIUM 'IAP. EMPIRE SAVINGS, BUILDING AND LOAN ASSOCIATION BY i Q PRESID : STATE OF COLORADO ) SS. COUNTY OF EAGLE ) THE FOREGOING INSTRUMENT TERMED APP'ROVAL AND CONSENT TO CONDOMINIUM MAP WAS ACKNOWLEDGED B"FORE :?E THIS DAY OF g e/' , A. D., I9_ BY L F P'RESZDENT OF E:1PI E SAV NGS, BUILDING AND LOAV ASSOCIAT'IO:V. WITNESS MY HAND AND SEAL. IY COMMISSION EXPIRES_ C ,.n J 7 %I f v . ^ NOT RY PUB IC APPROVAL BY PLANNI:VG C:M IISSION THIS CONDOr1I:VIUM MAP OF COLDSTREA.i CONDOMINIU'IS IS HEREBY APPROVED BY THE TOWN OF VAIL PLA`J'.1I:IG COr1MISSION THIS ' DAY OF O l C- M hP..- , A.D. , 19. A T T E S T : ' , -/ I A /- , "' - • - t G '' ,-, • G., SECRETARY `-- CHAIR"-IAV APPROVAL OF CONDOI IINIUM ti'.AP THIS CONDOMINIUM MAP OF COLDSTREAi'I CONDOMINIUMS IS HEREBY_ APPROVF,D BY THE TOWN COii`CIL OF TiiE TO a' OF V11IL THIS DAY OF _ 1-1---__ t-.. D. , 19 _ . -_ TFi Towr: oF .. .,,, -.., AT T E S T: e /'/'"'-+rY _ / r,.-.r ., vnp _. ..,..... W CERTIFICATE OF THE CLERK AND RECORDER C331 ,$ THIS CONDOMINIUM MAP WAS FILED FOR RECORD IN THE OFFICE OF THE CLERK AND RECORDER OF EAGLE COUNTY AT D D O'CLOCK M. f s , A.D. , 19 AND IS DULY RECORDE AT RECEPTION NUMBER / 3// IN BOOK 96 AT PAGE j?o. o0 c ,, f CLERK AND RECORDER o BY _ DEPU G.C.E . INDIVIDUAL OWNERSHIP i FACF OF DRYWALL INTERIOR DIMENSIONS ARE FROM FACE OF DRYWALL TO FACE OF DRYWALL , OWNERSHIP AT EXTERIOR WINDOWS 8 DOORS IS AS SHOWN IN THIS DIAGRAM. WINDO`JV 8 DOOR FRAMES ARE GENERAL COMMON ELEMENT. TY ICAL EXTERIOR WINDOy11 & OO N SCALE o. t. am,...,,,,.-..-.„,,, CERTIFICATE OF OWNERSFiIP KNOW ALL [1EN BY THESE PRES NTS THAT COLDSTREAM, LTD., A COLORADO LII II D PARTNERSHIP, BEING SOLE OWNER IN FEE SIMPLE OF ALL THAT REAL _'ROPF.RT' DESCRIBED AS FOLLOWS : A PARCEL OF LAND LOCATED WITHIN LOT 53, GLEN LYON SUBDIVISION , ACCORDING TO THE AMENDED PLAT THEREOF RECORDED ON JULY 18, 1978 IN BOOK 272 AT PAGE 370, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: ' BEGINNING AT A POINT WHENCE TH LENTER OF SECTION 12, TOW SHIP 5 SOUTH, RANGE 81 WEST OF THE 6TH P.M. BEARS N. 89°15'28'" E. A DISTANCE OF 158.75 FT.; THENCE S. 89°15'28" W. A DISTANCE OF 161.65-FT. TO THE SOUTHWEST CORNER OF LOT 53, GLEN LYON SUB- DIVISION; THENCE N. 10°11'51" E. ALONG THE WEST LINE OF LOT 53, GLEN LYON SUBDIVISION A DISTANCE OF 123.27 FT.; THENCE LEAVING THE WEST LINE OF LOT 53, GLEN LYON SUBDIVISION S. 79°48'09" E. A DISTANCE OF 114.93 FT.; THENCE N. 45°00'00" E. A DISTANCE OF 36.00 FT.; THENCE S. 45°00'00" E. A DISTANCE OF 17.50 FT.; THENCE N. 45°00'00" E. A DISTANCE OF 7.50 FT.; THENCE N. 00°00'00" E. A DISTANCE OF 13.00 FT.; THENCE N. 45°00'00" W. A DISTANCE OF 55.00 FT.; THENCE N. 00°00'00" E. A DISTA ICE OF 42.90 FT.; THENCE N. 45°00'00" E. A DISTANCE OF 70.78 FT., THENCE S. 45°00'00" E. A DISTANCE OF 7.00 FT.; THENCE "1. 45°00'00" E. A DISTANCE OF 41.00 FT.; THENCE N. 00°00'00" E. A DISTANCE OF 11.50 FT_; THENCE N. 90°00'00" E. A DISTti ICE OF 27.42 FT.; THENCE S. 45°00'00" E. A DISTANCE OF 81.00 FT.; THENCE :V. 90°00'00" E. A DISTANCE OF 73.75 FT.; THENCE S. 00°00'00" E. A DISTANCE OF 14.50 FT.; THENCE S. 45°00'00" E. A DISTA:ICF OF 36.00 FT.; THENCE N. 90°00'00" E. A DISTANCE OF 23.50 FT.; THE VCE S. 00°00'00" E. A DISTANCE OF 26.51 FT.; THENCE S. 45°00'00" E. A DISTANCE OF 12.21 FT.; THENCE N. 90°00'00" E. A DISTA`10E OF 104.52 TO A POI 1T ON THE WESTERLY R.O.W. LZNE OF j^7ESTHAVEN DRIVE; THENCE S. 08°40'00" W. A DISTANCE OF 17.01 FT. TO A POI'vT OF CURVATURE; THENCE CONTINUING ALONG SAID R.O.W. ALONG TFiE ARC OF A CliP.VE TO THE LEFT, SAID CURVE HAVING A DELTA OF 28° 39'16", A RADIliS OF 175.00 FT., AN :RC LENGTH OF 87.52 FT. AND A CF ORD :HICFI BEARS S. 05°36' 41" E. A DI TAI?CE OF 86.61 FT. ; THENCE LEAVI IG SAID R.O.W. N. 90°OG'00" W. A DISTANCE OF 185.33 FT.; THENCE ti. 0°00'00" E. A llISTANCE OF 17.00 FT.; THENCE S. 45° 00' 00" J. I1 DISTA:CE OF 14. 14 FT. ; THENCE S. 00°00' 00" W. A DISTANCE OF 27.00 FT.; THENCE N. 90°00'00" W. A DISTANCE OF 162.00 FT.; TFiENCE S. 4°00'00" W. A DISTANCE OF 45.00 FT.; TIiENCI S. 00°44' 32" E. A DISTANCE OF 15. 38 FT. TO TIiE POZNT I\ND F'LriCI: nF BEGINNI IG. DO HEREBY CERTIFY THAT THIS CONDOP4INIUM NIAP HAS BEEN PREPARED PURSUANT TO THE PURPOSES STATED IN THE CONDOMINIUI 1 DECLARATION FOR COLDSTREAM CONDOMINIUMS AS RECORDED A.D., 19 D AT RECEPTION NUMBER 9 / IN BOOK AT PAGE OF THE RECORDS OF THE CLERK AND RECORDER OF EAULE COUNTY, CULORADO. EXECUTED THIS , S DAY OF G/1G , A.D. , 19 74 , BY COLDSTREAM, LTD. COLDSTREAI 1, LTD. , A COLORADO - '- J-,. LIMITED PARTNERSHIP, • " r . BY NORRIS REALTY COP•1PANY, A , - _ , ' ' .'.' -- `..? - = COLORADO CORPORATION, A - ' -:' , : GENERA PARTNE . : ' -' ` BY `/ , y ' SECR RY ANDREW D. '.10RRIS III, PRESIDENT BY SUSTAETA DEVELOPMENT COPIPANY, k` A COLORADO CORPORATION, A GENERAL PARTNER . c , . . iJ . . TF. . BY : . - ._ SECRETARY J_':: IER SUSTAETA, PRESTD€NT `- . STATE OF COLORADO ) , _ SS. COUNTY OF EAGLE ) , - THE FOREGOING INSTRL'MENT TER'ED CER''IFICATE OF O ERSHIP WAS ACK:VOWLEDGED BEFORE :ZE TH I S 3 j DAY OF G't pf , A.D., 19 BY ANDREW D. NORRIS III, PRESIDENT OF NORRIS REALTY COMPANY, A GENERAL PARTNER OF COLDSiREA.1, LTD. AND BY JAVIER SUSTAETA, PRESIDENT OF SliSTAETA DE'LOP"•1E'_VT COMPANY, A GENERAL PARTNER OF COLDSTRF.AP I, LTD. WITNESS MY HAND AND SEAL. , _, i 1Y COMI'IISSION EXPIRES J a% 3 _ .;: I ] c/ 1-v-4-' J! I l ' i UTARY PUBLIC i -' s t c? y. 3' t- I o,' ` 4_+_. j"" S ; j i,, j r - l,, , ,\` \ ,, 73.V''i,; . 304 s m_._._.._... m.....,.,....,. _ _ _ . f,.,,,..,.,._ :,.,,._._....,., .. ,._._..___ ._._._.._... ., MAt N L1NE _ THIS SHEE 0 N w C M 0 O Z S 89°24 08 W I1.12 CO N N ti N W `" O O z DRAINAGE EASEMENT Otr J- h• VO Z o N o D 90°00 00 R = 17.50 L = 27.49 C=24.T5 o ` 6 N - 3 Q GPv/ Q, V h' , N gp°00 c / / o`% N 00°00'00" E 0J` I I. 50 o, / i n O S 45°00 00 E 7.00 /\ O rn N w o O 0 0 0 0 Z p• O N 45°00'00" W h 700 C, • a a,. o° O 3 UNIT 12 i i . . . . . . . ELEV. 8009.86 O O / ///// 0 o N BUILDING ,C 0 I N sA I,. 9 g FUTURE PHASE BUILDING E E L E V. 8013.93 So UNITS 10 8 II O ELEV. 80N 1.86 o• AS Q. SS oo, oo, L oI0 N I w) 0 0 0 O 0 O G.C.E. Z N 45°00'00 E 7.00' FIRE LANE BOUNDARY s oo°oo'oo" w 3 gSo I6, • O '' F s AO S 00°00'00" E 14.50 7.00' N 00°00 00 E , S p, 7.00 00o a o 26.00 „ N 90°00 00 W p h N 90°00 00 W 31.00 gi N gQ°00 00° W UNIT 43 4.00 • - ELEV. 8 16 3 i B JILDI NG J UNITS 44 8 45 ELEV. 8018.39 23.50 90 00'00" W 0 n o c o N ° 0 N i o. SHEET 2 of l2 5 15 30 60 O 10 20 40 SCALE I= 20' E 104.52' w N 90° 00 00 o - 69.00 S 45° 00' 00" E 0 12.21' o , „ 97.00 o N 90°00 00 W .. Z r I S 08°40 00" W 17.01 ioi 105 104 103 102 10T ItJ6 I10 109 108 G.C.E. o , ?O ELEV. 8016.39 166.84 S 45 00 00 E / 17.50 N Oi0°00'00 E 3 13.00 N 90° 00 00 E C' p I (, O p 0 0 0 0°/ FIRE LANE BOUNDARY O o N 5°00`00" E . 7.50' o O h O °/ l,°` N 90° 00 00 ED (• j S 79°48 09" E `b G. .E T. 114.93' " `o S 45°00' 0"W - pq K NG BUILDING E//// / V. 8012.9C 0 N S 45°00 00 E .I. - 116.50 14.14 G E 12.66 N 90°00 00 E N 90 p '00 W S 00°00 00 E 3 o° , 700' - 70.28 _ h • o' E o p N 00°00 00" E N 90 00 00 II 4 I 12 II I o N 17.00 3 II S 11 7 116 115 I19 G G 124 123 122 121 120 1 2 8 1 27 126 125 1I 62.00 I N 90500, E ` a N g0°oo'00" w FUTURE PHASE 3 .- o , o O O M O o \h ' O h o ' oo FUTURE PHASE 232.00 h -- WPHASEILIMITSS89° 24 0811 S 00°44'32"E 15.38 ' 161.65 320.40 S 89°15'Zg W NOTE:DESIGNATES WHERE R FERENCE ELEVATIONS WERE TAKEN. N 30°00 00" W 5.77' 1 / 1 4 164.00 3 O M O t0 O CURVE 2 3 4 5 6 7 8 N 30°00'00 I .07' J CURVE DATA TABLE DELTA ARC RADIUS LENGTH 60°00'00" 37.00' 3£3.75' 60°00'00" 15.00' 15,71 120°00'00" 18.33' 38.40' 78°50'46" 16.00' 22.02' 16°43'02" 175.00' S1.06' 11°04'21" 175.00' 33.82' 00°51'53" 175.00' o , „ 2.64' 28 39 16 i75.00' 87.52' S L 2 O PHASE I LIMITS T 11S SNEET r_' MATCM ` 1NE- 0 = 69° 22 44 R = 175.00 L = 211.90 C = 199.19 1730.009 e 305 40 s n f i" a' N 81•17 31 E 38. 23 W O Z 3'`$ 56 N / rhH t .L OF CONDOMINIUM MAP AS RECORDED ON JANUARY 2, 1980 IN BOOK 296 AT PAGE 725 IN THE CLERK AND RECORDERS OFFICE OF EAGLE COUNTY, COLORADO CE-NTFR ( SECTION t u ; ' VICINITY MAP PHASE MAP CO'_C STREAM CONDOMINIUMS LOT 53 OF AMENDED GLEN LYON PL AT B JOK '' PA G E r' OF THE RECORDS OF EAGLE C 1NTY, COL RADJ S FO• a. s '' F I = 69°22 44'. R =175. 00' L = 2! 1.90' C =199.19' i CONDOM/lIl/UM M,4P OF _ sHEEr i of z ON A PORTION OF LOT 53 OF THE AMENDED P AT OF G EN LYON SUBDIVISION LOCATED IN SECTION 12,TOWNSH1 P 5 SOUTH, RANGE 81 WEST i SIXTH PRINCIPAL MERIDIAN, TOWN OF VAIL COUNTY OF EAGLE, STATE OF COLORA DO S s, ti 9 PHASE L Qt ', i j S 8 4' 08 W EGE ND G.C. E . GENERAL COMMON ELEMENT ( GC E) L.C.E. LIMITED COMMON ELEMENT (LCE) LOT 53 BOUNDARY PHASE BOUNDARY Q-- PROPERTY PI NS PARTITION WQLL FOR REFERENCE ONLY z 0 0 DRc rNAGE EASEMENT e = 90•00'00" R = 17, 50 2z49' C = 24.75' o f ry J o C O 3 \ . o r l C , S 99° 24'08"W l1.12' EXTERIOR APPROVAI, OF CONDOIMT_NIUM MAP HIS CONDQMINIUM MAP Or COLI)STRE ICONDOM.iNIUMS IS tiEREBY APPRO JEDBYTHETOWNCOt1NCIL F THE TOWN OF R7 1IL TH^~ -t-_ ae D. , 1g lt% Z.-- DAY OF TOW1 i''OF , Vr i, '' ATTEST: j I fit va !/'( `,.G'/i.r C , , r a Secretar -=. .: ;;, _, B- ,,. b v <iY/ . __ ..:- _,. _ t.=..s CERT i TL C E' THE C ERK AND RFCQRDRR / 9S 93 = THIS CONDCMii 1 liM Ma Wc S F LE r OR Fc;; ORD IN THE OFFICE U' TIiE CLLRKANDRECORDEROFEAGLECOUNT: e T • ja G' C1.,OCK M _'7;_ i., r. D 198Q AND _TS DUi Y RECnRbEJ a?' RECEi TION NUMBER ys 93y_ Iv BOOK q 9 AT PAGE C` K r N REGORBER ii .. BY' : --- '/ Deputy ----- ____- __. T, 1 G . o a APPROVAL AND CONSEN? TO CONDOMINIUM MAP EMPIRE SAVINGS, BUILDZNG ARD LOiAN ASSOCIATION, AS BENEFICIARYOFADEEDOFTRUSTRECORDEDMAY7, A,D., 1979 IN BOOK 285 ATPAGE78HEREBYAPPROVESANDCONSENTSTOTHISCONDOMINIUMMAPANDSUBORDINATESIT'S INTEREST IN SUCH DEED OF TRUST TO THISCONDOMINIUMMAP. EA iPIRE SAVINGS, BUILDING AND.„,. LiOAN ASSOCIATION s . o, HT' ,._. ._. VICE P SID T l . .,. STATE OF COLORADO ) _ -J SS. Ctti ' COUNTY OF ) .. . THE FOREGOING INSTRUMENT TERMED APpROVAL AND CONSENT TOCONDOMINIUMMAPWASACKNOWLEDGEDBEFOREMETHIS AY,OF , A.D., 1930 BY r , VICE PRESIDENT OF EMPIRESAVINGS, BUIL IN AND LOAN ASSOCIATION. f''' Y E. WITNESS MY HAND AND SEAL. os e° oe ! i:'"- . . MY COMMISSION EXPIRES , R,`. 1 o_. t- __ __. _ ,: e./'3 ^ 2 eC-A` r NOT Y PUBLIC APPROVAL BY PLANNING COMMISSION THIS COIQDOMINIUM MAP OF COLDSTRE AM CONDOMINIUMS, PHASE II, 7SHEREBYA,PPROVED BY THE TOWN OF V;AIL PLANNING COMMISSION THISZZ.._.DAY OF ' '„,,. .._.. A.D., 1980. ATTEST: /!`'rt .-'e.,.`.,.G BY /j(c..C.. SECRETARY CHAIRMAN ),e CERTIFICATE OF OWNERSHIP , KNOW ALL MEN BY THESE PRESENTS THAT COLDSTREAM, LTD., A COLORADO LIMITED PARTNERSHIP, BEING SOLE OWNER IN FEE SIMPLE OF ALL THAT REAL PROPERTY DESCRIBED AS FOLLOWS: A PARCEL OF LAND LOCATED WITHIN LOT 53, GLEN LYON SUB- DIVISION ACCORDING TO THE AMENDED PLAT THEREOF, RECORDED ON JULY 18, 1978, IN BOOK 272 AT PAGE 370, EXCEPT THAT PARCEL NOTED AS COLDSTREAM CONDOMINIUMS, PHASE•I, ON A CONDOMINIUM MAP, RECORDED AT RECEPTION NUMBER 193118, IN BOOK 296 AT PAGE 725 ON JANUARY 2, 1980. THE REMAINING TWO PARCELS OF LOT 53 BEING COLDSTREAM CONDOMINIUM PHASE II, ARE MORE PARTICULARY DESCRIBED AS FOLLOWS: PARCEL 1 BEGINNING AT A POINT ON THE WEST LINE OF LOT 53 h1HENCE THE CENTER OF SECTION 12, TOWNSHIP 5 SOUTH, NGE 81 WEST OF THE SIXTH PRINCIPAL MERIDIAN BEARS S. 67°41'52" E. A DISTANCE OF 321.73 FT.; THENCE N. 10°11'S1" E. A DISTANCE OF 95.09 FT.; THENCE N. 46°25'56" E. A DISTANCE OF 205.17 FT.; THENCE N. 73°18'56" E. A DISTANCE OF 194.59 FT.; THENCE S. 40°18'06" E. A DISTANCE OF 271.70 FT. TO A POINT ON THE WESTERLY RIGHT-OF-WAY OF WESTHAVEN DRIVE; THENCE S. 08°40'00" W. ALONG THE WESTERLY RIGHT-OF-WAY OF SAID WESTAAVEN DRIVE A DISTANCE OF 38.02 FT.; THENCE S. 90°00'00" W. A DISTANCE OF 104.52 FT.; THENCE N. 45°00'00" W. A DISTANCE OF 12.21 FT.; THENCE N. 00°00'00" E. A DISTANCE OF 26.51 FT.; THENCE N. 90°00'00" W. A DISTANCE OF 23.50 FT.1 THENCE N. 45°00'00" W. A DISTANCE OF 36.00 FT.; THENCE N. OO°00'00" E. A DISTANCE OF 14.50 FT.; THENCE N. 90°00'00" W. A DISTANCE OF 73.75 FT.; THENCE N. 45°00'00" W. A DISTANCE OF 81.00 FT.; THENCE N. 90°00'00" W. A DISTANCE OF 27.42 FT.; THENCE S. 00°00'00" W. A DISTANCE OF 11.50 FT.; THENCE S. 45°00'00" W. A DISTANCE OF 41.00 FT.; THENCE N. 45°00'00" W. A DISTANCE OF 7.00 FT.; THENCE S. 45°00'00" W A DISTANCE OF 70.78 FT.; THENCE S. 00°00'00" W. A DISTANCE OF 42.90 FT.; THENCE S. 45°00'00" E. A DISTANCE OF 55.00 FT.; THENCE S. 00°00'00" E. A DISTANCE OF 13.00 FT.; THENCE S. 45°00'00" W. A DISTANCE OF 7.50 FT.; THENCE N. 45°00'00" W. A DISTANCE OF 17.50 FT.; THENCE S. 45°00'00" W. A DISTANCE OF 36.00 FT.; THENCE N. 79°48'09" W. A DISTANCE OF 114.93 FT. TO THE POINT AND PLACE OF BEGINNING. SAID PARCEL CONTAINING 1.33 ACRES MORE OR LESS. AND PARCEL 2 BEGINNING AT THE CENTER OF SECTION 12, TOWNSHIP 5 SOUTH, RANGE 81 WEST OF THE SIXTH PRINCIPAL MERIDIAN; THENCE S. 89°15`28" W. ALONG THE EAST WEST CENTERLINE OF SAID SECTIOR 12 A DIST}I TCE OF 158.75 FT.; THENCE N. 00°44'32" W. A DISTANCE OF 15.38 FT.; THENCE N. 45°00'00" E. A DISTANCE OF 45.00 FT.; THENCE N. 90°00'00" E. A DISTANCE.OF 162.00 FT.; THENCE N. 00°00'00" E. A DISTANCE OF 27.00 FT.; THENCE N. 45°00'00" E. A D STANCE OF 14.14 FT.; THENCE S. 00°00•00" E. A DISTANCE OF 17.00 FT.f THENCE N. 90°00'00" E. A DISTANCE OF 185.33 FT. TO A POINT ON THE WESTERLY RIGHT-OF-WAY OF WESTHAVEN DRIVE, THENCE ALONG SAID RIGHT-OF-WAY ALONG THE ARC OF A CURVE TO THE LEFT A DISTANCE OF 124.38 FT. SAID CURVE HAVING_A CENTRAL ANGLE OF 40°43'28" AND A RADIUS OF 175.00 FT. TO A POINT ' OF REVERSE CURVATURE, THENCE ALONG THE ARC OF A CURVE TO THE RIGHT A DISTANCE OF 27.49 FT. TO A POINT ON THE NORTHWESTERLY RIGHT-OF-WAY OF GREENHILL COURT, SAID CURVE HAVING A CENTRAL ANG.LE OF 90°00'00" AND A RADIUS OF 17.50 FT.; THENCE CONTINUING ALONG SAID RIGHT-OF-WAY OF GREENHILL COURT S. 29°17'16" W. A DISTANCE OF 152.45 FT.; THENCE LEAVING SAID RIGHT-OF-WAY S. 89°24'08" W. A DISTANCE OF 11.12 FT.; THENCE N. 00°35'16" E. A DISTANCE OF 187.00 FT.; THENCE S. 89°24'08" W. A DISTANCE OF 232.00 FT. TO THE POINT AND PLACE OF BEGINNING, SAID PARCEL CONTAINING 0.74 ACRES MORE OR LESS. DOES HEREBY CERTIFY THAT THIS CONDOMINIUM MAP HAS BEEN PREPARED PURSUANT TO THE PURPOSES STATED IN THE CONDO- MINIUM DECLARATION FOR COLDSTREAM CONDOMINIUMS AS RECORDEDJANUARY2, A.D., 1980 AT RECEPTION NUMBER 193117, IN BOOK296ATPAGE724, AS AMENDED BY SU PLEMENTAL CONDOMINIUM DECLARATION FOR COLDSTREAM CONDOMINIUMS AS RECORDED AT RECEPTION NUMBER 's9. . IN BOOK v__, AT PAGE j` , ALL IN THE RECORDS OF THE CLERK AND RECORDER OF EAGLE COUNTY, COI,ORADO. EXECUTED THIS DAY OF F,EBRd R , A, D. , 1980, BY COLDSTREAM, LTD., A COLORADO LIMITED PARTNERSHIP, NORRI S REALTY COMP i '. 1 ,, '' ,. COLORADO CORPORA, GENERAL PARTNER L t _ A 1'T , ', BY ;; ,' - AS 'T. S CRETARY ANDREW D. N IZI,.p SIDEN SUSTAETA DLrVELOPMENT COMPA VY, A COLORADO CORPORATI 1',;; yA,- GENERAL PARTNER. "' yryy''_--: i-- J * .' aL:' '`Pe . '. M,4, 1 , _ / j '•. _ W I N DOW OR DOOR ,' , - - , ` .,, ,-- ;-: • ' - EXTERIOR WALL G.C.E . G.C.E . p,TTEST ; t,.,,- , , .: - C / _ '' BY ,, . . . . ASS'T. SECRETARY Ek Sli;>TA ;"•„pRESID NT SURVEYOR'S CERTIFICATE NOTES: STATE OF COLORADO ) '' ' I, TOMMY C. COBB, A RF.GZSTERED LAND SURVEYOR, REGISTERED UNDER 1. ALL WINDORS AND DC>ORS ARE INDIVIDUAL ... ) SS. OWNERSHIP. SEE TYPICAL WINDOW & DO R INDIVI.DUAL OWNERSHIP •. COUNTY OF EAGLE ) Ti E LAWS OF THE STATE OF COLORADO, DO fiERFBY CERTIFY THAT TFiE DIAGRAMS. SURVEY OF COLDSTREAf2 CONDOT4INIUMS WAS MADE UNDER MY SUPERVISIOPI FACE OF DRYWA L THE FOREGOING INSTRUMENT TERMED CERTIFICATE OF OWNERSHIP WAS ACKNOWLEDGED BEFORE ME THIS DAY OF - AND THAT TI-IS PLAT ACCL'RATELY SE OWS TFiE PLATTINC AND SUBDIVISION 2. ANYTHING NOT SHOWNf AS L.C.E., G.C.E. ''6 U , OF SUCH COLDSTRF.AM CO'DnM7NIUMS. TIiF LOT CORNF.RS AND BOUNDARY OR SPECIFIED AS A UNIT IS GENERAL INTERIOR DIMENSIONS ARE FROM FACE OF ORYWALL A.D. , 1980 BY ANDREW D. NORRIS III, PRESIDENZ' OF NO RIS REALTY nRNERS iiAVF. BEEN SURVEYED IN COMPLIANC: WITH APPLICI.*1T' S COMMON ELEMENTS, i. e. - UTILITIES, TO FACE OF DRYWALL , OWNERSHIP AT EXTERIOR COMPANY, A COLORADO CORPORATION AND A GENERAI, PARTNER OF RFGULATI NS GOVERNING THE SUBDIVISIOrv oF LAND. AND RACQUETBA.LL, T'EN?JIS FACILITZES. WINDOWS DOORS IS AS SHOWN IN THIS DIAGRAM. LDSTREAM, LTD., A COLORADO LIMITED PARTNER HIP AND BY IN WITNESS WHFRFnF I FiAVE SET MY F AND AND SF.AL THIS -C_/ f i`Z T, 3. ALL BALCONiES DECKS ARE LIMITED WINDOW 8 DOOR FRAMES ARE GENERA` COMMON ELEMENT. JAVrER SUSTAETA, PRESIDENT OF SUSTAETA DEVELOPMENT COMPANY, A COLORADO CORPORATION AND A GENERAL PARTNER OF COLDSTREAM, OF % << / , 15 . , . 1 COMMON AREAS FOR ADJACENT UNIT. TYP I CA L EXTERI OR W I N DOVV & LTD., A COLORADO LIMITED PARTNERSHIP. II4"-„ '"- t' 4_ ALL DIMENSZONS ARE WZTHIN PLUS OR MINUS ' o` : I" TOLERANCE. WITNESS MY HAND AND SEAL. ` ' , ' O R NO SCALE ' r,' r~' ' NOTICE: Accordinq to Color do Iaw you must commence any MY COMMISSION E:{PIRES ' y'_ 5 . 0 DES IGNATES WHEERE REFERENCE ELEV;ATIONS - 1ega1 action based upon an} defe t in this survey within sixr-,. _ . ;n,n, _ ;,--' WERE TAKEN. . J" `.x,' 7 L. ir L_ _ r 4. ^_ years after you first discover suich defect. In no event, mayj '; '' any action based upon any deLect in this surve be comm e n c d more than ten years from the date of the certification shown "] ,. ,f' Pizereon. .L/.Cr_s , rt . 1/ J . , Q. -C') 30.009 r.o r: nt Li. e 0 e 306 PRESENTATION BY Heather Knight Planner II Rezoning Request Coldstream Condominiums 307 Vicinity & Zoning Map Town of Vail | Coldstream | vailgov.com 308 SDD #4, Area B History Town of Vail | Coldstream | vailgov.com SDD #4, Cascade Village, was adopted by Ordinance #5 Series of 1976. Over 20 amendments have occurred since then. There are 5 areas in SDD #4: •Area A – Cascade Village •Area B –Coldstream Condominiums •Area C – Glen Lyon Primary/Secondary & Single-Family Lots •Area D – Glen Lyon Commercial Site •Area E – Tract K The entire Cascade Village SDD is approximately 97.5 acres. Coldstream itself is situated on an approximately 4.21acres (+/-183,479 sf) parcel designated as Area B (4% of the total area of SDD #4). Because the property was annexed into the Town of Vail as a Planned Unit Development under Eagle County jurisdiction and early Special Development Districts were not based on underlying zoning, there is no underlying zoning for Cascade Village. Uses and development standards for the entire property are as outlined in the adopting ordinance for Special Development District No. 4. 309 SDD #4, Area B to HDMF - Benefits Town of Vail | Coldstream | vailgov.com •Applying the HDMF zone district to this parcel and removing it from the SDD will formally quantify the allowable density and dimensional limitations allowed for future development. •Applying a zone district to this area would also provide a level of certainty and predictability to Staff and Commissions regarding the limits of development for this parcel in the future. •Rezoning would also create consistency with surrounding adjacent zone districts and land uses as both parcels to the south of Coldstream, Eagle Pointe Condominiums and Alura, are zoned HDMF. •SDD #4 is unique as it does not have any underlying zoning. •Land Use assigned to parcel is High Density Residential. •Existing Coldstream development conforms to HDMF zoning standards, as well as stream setback requirements. 310 Why rezone? Town of Vail | Coldstream | vailgov.com •On February 18, 2025, there was a joint Town Council and PEC meeting; the subject of SDDs, rezoning, processes and impacts to the applicant and town was discussed. •There is frustration with the SDD process as it can be expensive & time consuming for the applicant. •Straight zoning has a predictable set of rules and a clear process. •Taking out the negotiation piece of the process and replacing with predictability is a benefit to the applicant as well as the Town. •With an SDD, there is no variance process; with zoning, the PEC has a variance process. •Coldstream is the entirety of Area B; no other properties impacted by removing from the SDD. •Coldstream already conforms to standards set by HDMF •Rezoning the Coldstream property does not result in the granting of privilege nor is it incompatible with the Vail Comprehensive Plan (two tests for a determination of spot zoning). 311 Zone District Boundary Amendment Criteria Town of Vail | Coldstream | vailgov.com 1.The extent to which the zone district amendment is consistent with all the applicable elements of the adopted goals, objectives and policies outlined in the Vail comprehensive plan and is compatible with the development objectives of the town. •The land use for this parcel is designated as High Density Residential. •The adjacent properties to the south also share the High Density Residential land use designation and also have a zoning of High Density Multiple Family, referencing the potential consistency between land use and zoning of similar properties among neighboring sites. •The 2020 Strategic Action Plan, goal #3 within the section of Land Use and Development aims to ensure fairness and consistency in the development review process. Part of that goal’s strategy is to develop a streamlined design review process and include regulation updates. Moving from the SDD designation to a set zone district would allow for a more streamlined process for both the applicant and staff alike. 312 Zone District Boundary Amendment Criteria Town of Vail | Coldstream | vailgov.com 2. The extent to which the zone district amendment is suitable with the existing and potential land uses on the site and existing and potential surrounding land uses as set out in the town's adopted planning documents. •The subject lot has a land use designation of High Density Residential. •The adjacent properties to the south, Eagle Pointe Condominiums and Park Meadows, are zoned High Density Multiple Family (HDMF). •Continuing the HDMF zone district to the Coldstream parcel creates a consistency and continuum of zoning with similar uses and scale. 313 Zone District Boundary Amendment Criteria Town of Vail | Coldstream | vailgov.com 3. The extent to which the zone district amendment presents a harmonious, convenient, workable relationship among land uses consistent with municipal development objectives. •In line with the Town’s land use goals •It represents an opportunity for rezoning in an established neighborhood and existing condominium complex with the infrastructure to support the allowed uses. •It would clarify development standards for the property owners as well as informing adjacent neighbors of what may be permitted on the site. 314 Zone District Boundary Amendment Criteria Town of Vail | Coldstream | vailgov.com 4. The extent to which the zone district amendment provides for the growth of an orderly viable community and does not constitute spot zoning as the amendment serves the best interests of the community as a whole. •The proposed zone district amendment is consistent with the land use plan and provides the appropriate incentives for the orderly development of the subject property. This zoning amendment does not result in the granting of privilege nor is it incompatible with the Vail Comprehensive Plan, two tests for a determination of spot zoning. •The set development standards will ensure appropriate, compatible development that in is the best interest of the community. 315 Zone District Boundary Amendment Criteria Town of Vail | Coldstream | vailgov.com 5. The extent to which the zone district amendment results in adverse or beneficial impacts on the natural environment, including, but not limited to, water quality, air quality, noise, vegetation, riparian corridors, hillsides and other desirable natural features. •The amendment does not have direct impacts that are either adverse or beneficial to the natural environment. •Any future development on the parcel will be required to adhere to all applicable environmental standards during development review, construction and operation. •Any development in the HDMF zone district will require the approval of the Design Review Board, including site planning, design, and landscaping. 316 Zone District Boundary Amendment Criteria Town of Vail | Coldstream | vailgov.com 6. The extent to which the zone district amendment is consistent with the purpose statement of the proposed zone district. The proposed zone district amendment is consistent with the purpose of the HDMF zone district, which is: “The High Density Multiple-Family District is intended to provide sites for multiple-family dwellings at densities to a maximum of 25 dwelling units per acre, together with such public and semipublic facilities and lodges, private recreation facilities and related visitor oriented uses as may appropriately be located in the same zone district. The High Density Multiple- Family District is intended to ensure adequate light, air, open space and other amenities commensurate with high density apartment, condominium and lodge uses, and to maintain the desirable residential and resort qualities of the zone district by establishing appropriate site development standards. Certain nonresidential uses are permitted as conditional uses, which relate to the nature of Vail as a winter and summer recreation and vacation community and, where permitted, are intended to blend harmoniously with the residential character of the zone district.” 317 Zone District Boundary Amendment Criteria Town of Vail | Coldstream | vailgov.com 7. The extent to which the zone district amendment demonstrates how conditions have changed since the zoning designation of the subject property was adopted and is no longer appropriate. •The subject parcel was annexed into the town of Vail in the early 70’s and at the time,had no underlying zone district to govern its development. •At the time of Annexation,the parcel was included in the SDD #4 as its own sub area, Area B. •This rezoning to the HDMF zone district will create certainty and predictability for the owners within the complex as well as Town staff, the Planning and Environmental Commission and Town Council. •As noted in the 2020 Strategic Action plan, section of Land Use and Development, goal #3, this will streamline the development process and provide additional clarity on development standards. 318 Thank you 319 AGENDA ITEM NO. 7.2 Item Cover Page DATE:April 15, 2025 TIME:5 min. SUBMITTED BY:Steph Johnson, Town Manager ITEM TYPE:Ordinance AGENDA SECTION:Public Hearings (8:20pm) SUBJECT:Ordinance No. 6, Series of 2025, Second Reading, An Ordinance Amending Title 7 of the Vail Town Code by the Addition of a New Chapter 14, to Establish an Automated Vehicle Identification System (9:05pm) SUGGESTED ACTION:Approve, approve with amendments, or deny Ordinance No. 6, Series of 2025 upon second reading. PRESENTER(S):Commander Chris Botkins, Vail Police Department VAIL TOWN COUNCIL AGENDA ITEM REPORT ATTACHMENTS: Council Memo - Automated Vehicle Identification System (AVIS) Ordinance No. 6 - AVIS 320 March 20, 2025 To:Vail Town Council Through:Russ Forrest Town Manager Ryan Kenney Chief of Police From:Christopher Botkins Operations Commander Subject:Automated Vehicle Identification System Ordinance The Vail Police Department is requesting the Town Council adopt an ordinance authorizing the use of an Automated Vehicle Identification System (AVIS) to issue speeding tickets at two locations in the Town of Vail. The first designated location is monitoring westbound traffic on S. Frontage Rd. adjacent to Village Center Dr. The second location is monitoring westbound traffic on N. Frontage Rd. near Zermatt Ln. This measure is intended to enhance public safety, improve the consistency of traffic law enforcement, and reduce the incidence of speeding-related incidents. Speeding is a primary contributor to traffic accidents and can compromise the safety of both residents and visitors. As Vail continues to experience increased traffic volumes, it is imperative that we employ modern, effective strategies to manage speed-related issues. Automated Vehicle Identification Systems have been successfully utilized in various jurisdictions within the state of Colorado to deter speeding through consistent and timely enforcement, enhance the efficiency of issuing warnings and citations, and provide a data-driven approach to traffic management. The proposed ordinance is firmly supported by Colorado Revised Statute 42-4-110.5, ensuring that our local enforcement measures comply with state law. The automated system not only offers impartial enforcement of speed limits but also enhances operational efficiency by reducing the administrative burden on our traffic enforcement officers. Furthermore, any additional revenue generated from speeding citations can be reinvested in community safety programs and infrastructure improvements. 321 Town of Vail Page 2 Adopting this ordinance will modernize our traffic enforcement practices and align them with contemporary technological standards while improving the safety and well-being of Vail residents and visitors. I appreciate your consideration of this proposal and am available to discuss it further or provide additional information as needed. 322 4/1/2025 C:\USERS\EASYPD~1\APPDATA\LOCAL\TEMP\BCL TECHNOLOGIES\EASYPDF 8\@BCL@AC0FA816\@BCL@AC0FA816.DOCX ORDINANCE NO. 6 Series of 2025 AN ORDINANCE AMENDING TITLE 7 OF THE VAIL TOWN CODE BY THE ADDITION OF A NEW CHAPTER 14, TO ESTABLISH AN AUTOMATED VEHICLE IDENTIFICATION SYSTEM WHEREAS, the Town Council wishes to add provisions to the Vail Town Code to include the use of an automated vehicle identification system to detect violations of traffic regulations; and WHEREAS, the Town Council finds it in the best interest of the public health, safety and welfare to adopt these amendments to the Vail Town Code. 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 14 as follows: CHAPTER 14:AUTOMATED VEHICLE IDENTIFICATION SYSTEMS § 7-14-1 DEFINITIONS. For purposes of this Chapter, the following terms shall have the following meanings: AUTOMATED VEHICLE IDENTIFICATION SYSTEM: A machine used to automatically detect a traffic violation and simultaneously record a photograph of the vehicle and the license plate of the vehicle. NOTICE OF VIOLATION: A notice to a registered owner of a vehicle involved in a traffic violation detected by an automated vehicle identification system advising that the violation has been detected, or a similar notice mailed to the operator of the vehicle identified by the registered owner of said vehicle. PENALTY ASSESSMENT NOTICE: A notice to a registered owner of a vehicle involved in a traffic violation that has previously received a notice of violation. RESIDENTIAL NEIGHBORHOOD: A block on which a majority of the improvements along both sides of the street are residential dwellings and the speed limit is thirty-five (35) miles per hour or less. § 7-14-2 NOTICE OF VIOLATION. (A)If the Town detects any alleged traffic violation through the use of an automated vehicle identification system, the Town may issue to the vehicle's registered owner a notice of violation. 323 2 4/1/2025 C:\USERS\EASYPD~1\APPDATA\LOCAL\TEMP\BCL TECHNOLOGIES\EASYPDF 8\@BCL@AC0FA816\@BCL@AC0FA816.DOCX (B)The Town may only issue a notice of violation for violations that occur: (1)Within a school zone; (2)Within a residential neighborhood; (3)Within a maintenance, construction, or repair zone designated pursuant to C.R.S. § 42-4-614; (4)Along a street that borders a Town park; or (5)Along a street, or portions of a street designated as an automated vehicle identification system corridor as set forth in Section 7- 14-5. (C)The notice of violation shall be served: (1)Within thirty (30) days after the alleged violation if the vehicle involved in the alleged violation is registered in the State; or (2)Within sixty (60) days after the alleged violation if the vehicle involved in the alleged violation is registered outside the State. (D)The notice of violation shall contain: (1)The name and address of the registered owner of the motor vehicle involved in the alleged violation; (2)The license plate number of the motor vehicle involved in the alleged violation; (3)The date, time, and location of the alleged violation; (4)The amount of the civil penalty prescribed for the alleged violation; (5)The deadline for payment of the prescribed civil penalty and for disputing the alleged violation; and (6)Information on how the registered owner may either dispute the alleged violation at a hearing or pay the prescribed penalty. (E)To protest a notice of violation, the registered owner shall request a hearing in writing within forty-five (45) days after the date of the notice of violation. At the hearing, the Town may not require the registered owner to disclose the identity of the driver of the vehicle, but may require the registered owner to submit evidence that the owner was not the driver at the time of the alleged violation. § 7-14-3 SPEEDING. (A)Signage. The Town shall place a sign in a conspicuous place not fewer than three hundred (300) feet before the area in which the automated vehicle identification system is used, to notify the public that an automated vehicle identification system is in use immediately ahead. 324 3 4/1/2025 C:\USERS\EASYPD~1\APPDATA\LOCAL\TEMP\BCL TECHNOLOGIES\EASYPDF 8\@BCL@AC0FA816\@BCL@AC0FA816.DOCX (B)Violations. (1)For a speeding violation of less than ten (10) miles per hour over the speed limit, the violation may be cited as follows: (a)For the first offense, a written warning with no penalty or surcharge; or (b)For the second or subsequent offense, a notice of violation. (2)For a speeding violation of more than ten (10) miles per hour over the speed limit, the Town may issue the registered owner a notice of violation. (C)Penalty. The maximum penalty, including any surcharge, is forty dollars ($40.00), unless the violation is within a school zone or a designated construction zone, in which case the maximum penalty is eighty dollars ($80.00). § 7-14-4 DISOBEDIENCE TO A TRAFFIC CONTROL SIGNAL. (A)For traffic control signals, the Town shall post a sign notifying the public that an automated vehicle identification system is in use immediately ahead. Such sign shall: (1)Be placed in a conspicuous location not less than two hundred (200) feet and not more than five hundred (500) feet before the automated vehicle identification system; and (2)Use lettering that is at least four (4) inches high for upper case letters and two and nine-tenths (2-9/10) inches high for lower case letters. (B)The maximum penalty, including any surcharge, is seventy-five dollars ($75.00). § 7-14-5 AUTOMATED VEHICLE IDENTIFICATION SYSTEM CORRIDORS. (A) The Town identifies the following corridors as automated vehicle identification system corridors: (1)East and Westbound South Frontage Road from 1000 South Frontage Road West to 700 South Frontage Road East; and (2)East and Westbound North Frontage Road from 2293 North Frontage Road West to 1300 North Frontage Road West. (B)Prior to using an automated vehicle identification system on an automated vehicle identification system corridor, the Town shall post a sign not fewer than three hundred (300) feet before the beginning of the corridor and a sign not fewer than three hundred (300) feet before each camera within the corridor. 325 4 4/1/2025 C:\USERS\EASYPD~1\APPDATA\LOCAL\TEMP\BCL TECHNOLOGIES\EASYPDF 8\@BCL@AC0FA816\@BCL@AC0FA816.DOCX § 7-14-6 PENALTY ASSESSMENT NOTICES. (A)If the Town has not received the prescribed civil penalty or written notice requesting a hearing by the deadline, then the Town may issue a penalty assessment notice to be served on the registered owner either by first class United States mail or personal service. (B)The penalty assessment notice shall contain: (1)The name and address of the registered owner of the motor vehicle involved in the alleged violation; (2)The license plate of the motor vehicle involved in the alleged violation; (3)The date, time, and location of the alleged violation; (4)The amount of the civil penalty prescribed for the alleged violation; (5)The deadline for payment of the prescribed civil penalty; and (6)Information on how to pay the prescribed civil penalty. (C)If the registered owner fails to pay the full penalty by the deadline, a final order of liability shall be entered against and personally served on the registered owner. (D)The Town may initiate or pursue a collection action against the registered owner for debt resulting from the final order of liability. (E)The Town shall not report to the Colorado Department of Transportation any conviction or final order if the violation was detected through the use of an automated vehicle identification system. (F)If the registered owner fails to pay the full penalty, the Town shall not attempt to enforce the penalty by immobilizing the vehicle. (G)No portion of any fine collected through the use of an automated vehicle identification system may be paid to the manufacturer or vendor of the automatic vehicle identification system equipment. The compensation shall be based on the value of equipment and services provided, and may not be based on the number of traffic citations issued or the revenue generated by such equipment or services. § 7-14-7 DATA RETENTION. (A)The Town shall program the automated vehicle identification system to retain data only when a traffic violation occurs. (B)The Town shall treat all photographs and video collected by the automated vehicle identification system as confidential and exempt from disclosure and inspection pursuant to the Colorado Open Records Act, C.R.S. § 24-72-200.1, et seq. 326 5 4/1/2025 C:\USERS\EASYPD~1\APPDATA\LOCAL\TEMP\BCL TECHNOLOGIES\EASYPDF 8\@BCL@AC0FA816\@BCL@AC0FA816.DOCX (C)The Town shall not use, disclose, sell, or permit access to photographs, video, or personal identifiable data collected by the automated vehicle identification system except to the extent necessary to operate the program, including for purposes of processing violations, for other law enforcement purposes, for transferring data to a new vendor or operating system, or pursuant to a court order. (D)The Town shall destroy any photographs and video of a violation collected by the automated vehicle identification system within three (3) years after the final disposition of the violation, unless the photographs or video are maintained in a separate system for other purposes allowed by law. 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. INTRODUCED, READ ON FIRST READING, APPROVED, AND ORDERED PUBLISHED ONCE IN FULL ON FIRST READING this 1st day of April, 2025 and a public hearing for second reading of this Ordinance set for the 15th day of April, 2025, in the Council Chambers of the Vail Municipal Building, Vail, Colorado. 327 6 4/1/2025 C:\USERS\EASYPD~1\APPDATA\LOCAL\TEMP\BCL TECHNOLOGIES\EASYPDF 8\@BCL@AC0FA816\@BCL@AC0FA816.DOCX _____________________________ Travis Coggin, Mayor ATTEST: ____________________________ Stephanie Johnson, Acting Town Clerk READ AND APPROVED ON SECOND READING AND ORDERED PUBLISHED this 15th day of April, 2025. _____________________________ Travis Coggin, Mayor ATTEST: ____________________________ Stephanie Johnson, Acting Town Clerk 328