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Home My WebLink About2025-03-25 VLHA Agenda1.Call to Order (3:00pm) 2.Citizen Participation (5 min.) 3.Approval of Minutes (5 min.) 3.1 Approval of March 11, 2025 Minutes 5 Mins Presenter(s): Missy Johnson 4.Main Agenda (20 min.) 4.1 Construction Defects Legislation at State Legislature 10 Min. Presenter(s): Steve Lindstrom, VLHA Chairman 4.2 Update on West Middle Creek Housing Project 10 Min. Presenter(s): Jason Dietz, Housing Director 5.Matters from the Chairman and Authority Members (5 min.) 6.Adjournment 3:30 pm (estimate) 7.Next Meeting Date (April 8, 2025) VAIL LOCAL HOUSING AUTHORITY MEETING Agenda Virtually by Zoom. Zoom meeting link: https://vail.zoom.us/j/83110634258 3:00 PM, March 25, 2025 The Vail Local Housing Authority meets on the 2nd and 4th Tuesday of each month. 2025-03-11 VLHA Meeting Minutes.pdf HB 25-1261 HON_Oppose_Fact Sheet 3.12.25.pdf HE4CO_Handout_02182025.pdf 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. 1 AGENDA ITEM NO. 3.1 Item Cover Page DATE:March 25, 2025 TIME:5 Mins SUBMITTED BY:Missy Johnson, Housing ITEM TYPE:Approval of Minutes AGENDA SECTION:Approval of Minutes (5 min.) SUBJECT:Approval of March 11, 2025 Minutes SUGGESTED ACTION: PRESENTER(S):Missy Johnson VAIL LOCAL HOUSING AUTHORITY AGENDA ITEM REPORT ATTACHMENTS: 2025-03-11 VLHA Meeting Minutes.pdf 2 Vail Local Housing Authority Minutes Tuesday, March 11, 2025 3:00 PM Vail Town Council Chambers and virtually by Zoom. PRESENT ABSENT Steve Lindstrom Dan Godec Kristin Kenny Williams Craig Denton Christine Santucci STAFF Martha Anderson, Senior Housing Coordinator 1. Call to Order (3:00pm) 2. Citizen Participation (5 min.) No comments. 3. Approval of Minutes (5 min.) 3.1 Approval of January 28, 2025 Minutes 2025-01-28 VLHA Minutes.pdf MOTION: Williams SECOND: Lindstrom PASSED: 4 - 0 4. Main Agenda (25 min.) 4.1 Resolution No. 1, Series of 2025, A Resolution Approving an Exemption from Audit for the Fiscal Year 2024, for the Vail Local Housing Authority in the State of Colorado. Presenter(s): Jake Shipe, Budget Manager Time: 5 Min. Resolution Audit Exempt 24.pdf 2024 Audit Exemption.pdf Shipe reviewed the exemption from audit from process and signatures were gathered during the meeting. MOTION: Godec SECOND: Williams PASSED: 5 - 0 4.2 2024 Year-End Financial Housing Update Presenter(s): Jake Shipe, Budget Manager Time: 15 Min. 031125 VLHA 2024 Year-End Financial Update.pdf Shipe reviewed the year-end financial income statement, referencing the packet without any questions from the Authority. The year-end balance sheet, cash balance and preliminary results from the housing fund statement. 3 Town acquired $134,000 in Vail InDeed purchases including two buy-down housing units to be sold to the community wiht deed restrictions as well as made progress towards housing goals at West Middle Creek, Timber Ridge and the East Vail (CDOT) parcel. 4.3 Resolution No. 2, Series of 2025, a Resolution Approving the Purchase of a Deed Restriction Interest in Property (Type III Deed Restriction) in the Town of Vail Legally Described as Bldg 2: Subdivision: Sandstone 70 Unit C, Eagle County, Colorado with a Physical Address of 909 Red Sandstone Road, Unit C2, Vail, Colorado; and Setting Forth Details in Regard Thereto. Presenter(s): Martha Anderson, Senior Housing Coordinator Time: 5 Min. 2025-2 VLHA Resolution purchase of a deed restriction 909 Red Sandstone Road Unit C2.pdf This pertains to the Vail InDEED approval from application which was reviewed in January. The purchase price of the home is $750,000 and the board approved $160,00 for the Vail InDEED purchase. The home is under contract with a closing date set for March 31, 2025. MOTION: Godec SECOND: Williams PASSED: 5 - 0 5. Matters from the Chairman and Authority Members (5 min.) Habitat for Humanity had a record Carpenter's Ball raising $1 million. The draft of the housing needs assessment was presented a Council work session. Significantly, the affordability component continues to be a challenge. The affordability for deed restricted housing in Town of Vail hits the mark. Santucci commented that the awareness seems low regarding Vail InDEED and discussion ensued. There is an opportunity for advertising and exposure through VBOR meetings, social media, real estate company sales meetings, community and through MLS email blast outreach. Lindstrom updated the group regarding West Middle Creek discussion from the recent Council meeting. The project is which is moving towards the bond and COP financing. It should be on the Council agenda on Tuesday, March 18 agenda for final review. Other updates included: The Town's purchase of the East Vail CDOT closed and discussion ensued around the location of the parcel. Timber Ridge property sales continue, and an additional community event is coming up at Manor Vail on Monday, March 17. The sales team for Timber Ridge Village will be at the Town of Vail Community Meeting on Tuesday, March 25. Lindstrom and Ruther will be honored for the Trailblazer Award on Monday, March 24. Craig Denton made a motion to exit regular session and enter Executive Session. MOTION: Denton SECOND: Williams PASSED: 5 - 0 4 6. Executive Session (15 min.) Executive Session Pursuant to: C.R.S. §24- 6-402(4)(a) - to consider the purchase, acquisition, lease, transfer or sale of any real, personal or other property interest, §24- 6- 402(4)(e) to determine positions relative to matters that may be subject to negotiations, develop a strategy for negotiations and instruct negotiators and on the topic of: Vail InDEED Application. 7. Any Action as a Result of Executive Session (5 min.) Authority moved to direct staff as discussed during executive session. 8. Adjournment Meeting adjourned at 3:30 p.m. directly from Executive Session. 9. Next Meeting Date (March 25, 2025) 5 AGENDA ITEM NO. 4.1 Item Cover Page DATE:March 25, 2025 TIME:10 Min. SUBMITTED BY:Martha Anderson, Housing ITEM TYPE:Main Agenda AGENDA SECTION:Main Agenda (20 min.) SUBJECT:Construction Defects Legislation at State Legislature SUGGESTED ACTION: PRESENTER(S):Steve Lindstrom, VLHA Chairman VAIL LOCAL HOUSING AUTHORITY AGENDA ITEM REPORT ATTACHMENTS: HB 25-1261 HON_Oppose_Fact Sheet 3.12.25.pdf HE4CO_Handout_02182025.pdf 6 Housing Options Now is an alliance of civic and community-minded organizations in Colorado with a shared interest in advocating for common sense policies that support access to homeownership as a means to build strong communities and healthy economies. Learn more at www.housingoptionsnow.com. House Bill 25-1261: Consumers Construction Defects Action Representative Bacon/Senators Rodriguez and Winter POSITION: OPPOSE Summary: Housing affordability is a top concern in Colorado and one of the key drivers to creating this challenge is a shortage in all housing types. This deficit in housing is expected to worsen over the next several years with demand far exceeding supply at a time when new housing permits have dropped. Now, more than ever, we need policies that encourage the development of more housing. Unfortunately, HB 25-1261 will exacerbate our supply shortage and make our affordability challenge worse. Concerns With the Bill:  Prejudgment Interest Awards Will Increase Costs for Homeowners: The bill allows courts to award prejudgment interest on residential property construction claims which serves no purpose except to increase financial exposure to builders and incentivize litigation over settlement, driving the costs up for homeowners.  Unreasonable Insurance Disclosure Requirements: The bill creates an impossible standard for builders to comply with in that it requires disclosure of insurance policies to which they do not have access and increases liability on all construction professionals, increasing costs. 7 Housing Options Now is an alliance of civic and community-minded organizations in Colorado with a shared interest in advocating for common sense policies that support access to homeownership as a means to build strong communities and healthy economies. Learn more at www.housingoptionsnow.com.  Increases in Statue or Repose Will Increase Litigation and Drive Up Costs: The bill effectively increases the Statute of Repose and Statute of Limitations on claims indefinitely, which will invite more litigation on construction, driving up costs and disincentivizing builders from investing in Colorado.  Voids Provisions in Real Estate Contracts: Among other things, the bill voids provisions in real estate contracts that prohibit group lawsuits and overturns a Colorado Supreme Court decision on Vallagio vs. Metro Homes, incentivizing more litigation or the threat of litigation, which increases costs.  Allows Lawsuits to be Filed Without Consent of HOA Membership: The bill allows HOAs to proceed with construction defect litigation without the express consent of the association membership. This will increase litigation and will negatively impact a homeowner’s ability to sell their property if the HOA commences litigation without their consent or knowledge.  Additional Insurance Disclosure Requirements Will Drive Insurers Out of Market: The bill requires insurance disclosure requirements, which will have the negative effect of driving insurers out of the market, in an already thin market. Yet again, this provision will serve as a disincentive for builders to invest in Colorado which will exacerbate an already challenging housing affordability problem in the state. Organizations Opposed: Adams County Board of County Commissioners | Adams County Regional Economic Partnership (AC-REP) | American Council of Engineering Companies of Colorado | American Property Casualty Insurance Association (APCIA) |American Subcontractors Association | Associated General Contractors | Associated Builders & Contractors Rocky Mountain Chapter | Building Jobs 4 Colorado | City of Lone Tree | CO Real Estate Alliance (CREA) | Colorado Bankers Association Colorado Association of Home Builders | Colorado Association of Realtors | Colorado Civil Justice League | Colorado Concern | Colorado Contractors Association | Colorado Municipal League | Colorado Springs Chamber of Commerce & EDC | Colorado Subcontractors Coalition | Denver BOMA | Denver Metro Chamber of Commerce | Denver South Douglas County Business Alliance | Habitat for Humanity Colorado | Housing Options Now | Housing Colorado | Independent Electrical Contractors Rocky Mountain | Jeffco EDC | MDEC | NAIOP (National Association Industrial Office Properties) | Northern Colorado Legislative Alliance | Professional Independent Insurance Agents of Colorado | Rocky Mountain Mechanical Contractors Association | Rocky Mountain Home Association | South Metro Denver Chamber | Town of Parker 8 Join the Coalition @ HousingEquity4CO.com Contact us @ housingequity4co@icloud.com Housing Equity for Colorado is a new collaboration that links diverse community voices with the organizations working to provide housing to help address our state’s housing aff ordability and availability crisis. As community leaders, we understand the impact of Colorado’s housing crisis on our state’s workforce, their families and the econ- omy. The lack of access to aff ordable housing in Colorado: • Impacts our ability to recruit, retain and hire qualiﬁ ed work- ers, grow our businesses, and build healthy communities. • Limits the ability of ﬁ reﬁ ghters, teachers, police offi cers, frontline healthcare workers and other essential members of our communities to live in the communities where they work. • Jeopardizes the future of our kids and grandkids who likely will not be able to aff ord to live where they grew up. Colorado ranks dead last in housing competitiveness nation- wide. A recent study found that it takes a salary of $95,000 per year just to be in the lower middle class in the Denver metro area in a market where starter homes are extinct. That makes living the American Dream very diffi cult for far too many Coloradans and most often those in marginalized communities. The ability to buy a home and build equity matter. This is one of the most important pathways to the middle class and wealth gener- ation, which has become out of reach for many of the people who live and work here in Colorado. We need a community where young people invest and raise their families. But it requires good policy and good leadership. As communities around the country wrestle with aff ordable housing, we know there are no easy answers. But there are answers, and Colorado can become a leader nationwide. Working to address Colorado’s Housing Crisis By the Numbers: 225,000 Number of housing units needed right now just to meet Colorado’s housing demand. (CHFA/DMCC 2024 report.) Over 250 Mayors, community leaders, nonproﬁ ts and organizations that support reforming the state’s construction-defects law. 83 percent Coloradans in a recent statewide survey stating that housing is the top issue facing our state. They are worried about housing for them or their kids or grandkids. 22.4 percent Percent of permits for condo developments as a percentage of new homes in 2006-07 in the metro Denver area. (Peak Economics Research & Consulting) 15 to 20 percent Percentage of condo developments as part of a healthy and balanced housing market that prioritizes aff ordability. Colorado’s current market is below 5% due to current construction-defect law. Less than 5 percent Average of annual permits for condos in metro Denver since the 2008 construction-defect law. (Peak Economics Research & Consulting) 9 Colorado must do better. And we must take action. Housing Equity for Colorado will be working on sensible policies that foster more aff ordable housing across Colorado. We will work with elected leaders at the state and local levels to identify ways to facilitate policy changes that will provide more housing. We believe this will require a multi-year, multi-pronged and nonpartisan strategy to support legislation at the state Capitol to address productive housing policies with the goal of stabilizing costs. A critical ﬁ rst step is to begin building more condos and townhomes by seeking needed construction-litigation reform that has stymied these housing options for decades. Colora- do’s 2008 construction-defects law is blocking builders from ac- cessing insurance and capital for aff ordable condo developments. Today, condominiums account for less than 5 percent of building permits statewide. In a healthy housing market that should be 15 to 20 percent. Condo development promotes gentle density, increasing housing supply for ﬁ rst-time buyers. We will do better. And Housing Equity for Colorado is working to make that change. There’s much more to be done. As we work to address Colorado’s lack of condos, we will also focus on policies that impact land use, density, workforce availability and other factors that promote a healthy—and aff ordable—housing market. This eff ort will require the help and collaboration of many community partners and stakeholders and will hopefully help break down even more barriers to providing much-needed housing. Housing Equity for Colorado’s Goals: • Identify and research policy solutions that will lead to more housing options in communities across Colorado to address the aff ordability and availability of housing. • Become a trusted messenger on policies impacting housing to ensure that elected offi cials and housing stakeholders at the Capitol and in local governments take work together on smart and innovative solutions. • Build a multifaceted coalition of community leaders, businesses, nonproﬁ ts, religious organizations, and Coloradans to help spread the message of access to housing and work with legislators to pass pro-housing policies. • Work to educate our broader Colorado community about the importance of providing more housing op- tions—including homes, condos and townhomes—to meet the needs of our state’s workforce and economy. For more information: Selena Dunham 303-775-8382 Selena@classiquellc.com “To unlock housing supply, we need to allow more housing Coloradans want. This includes condos, which often start at a lower price point, providing more aff ordable homeownership, and with it, the foundation for wealth building, and building a nest egg for ﬁ nancial security.” —Colorado Governor Polis 2025 State of the State Franchell Dunham 703-232-4139 franchell_dunham@classiquellc.com Chametre Anderson 910-381-6635 chametre_anderson@classiquellc.com 10