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Home My WebLink About2025-04-08 VLHA Agenda1.Call to Order (3:00 pm) 2.Citizen Participation (5 min.) 3.Approval of Minutes (5 min.) 3.1 Approval of March 25, 2025 Minutes 5 Mins Presenter(s): Missy Johnson 4.Main Agenda (30 min.) 4.1 2349 Chamonix Lane EHU Exchange Application 15 Mins Presenter(s): George Ruther, Principal, Ruther Associates LLC 4.2 Discussion Regarding the Vail InDEED Program 15 Mins Presenter(s): Martha Anderson, Senior Housing Coordinator 5.Matters from the Chairman and Authority Members (5 min.) 6.Adjournment 3:35 pm (estimate) 7.Next Meeting Date (April 22, 2025) VAIL LOCAL HOUSING AUTHORITY MEETING Agenda Vail Town Council Chambers and Virtually by Zoom. Zoom meeting link: https://vail.zoom.us/j/82534922212 3:00 PM, April 8, 2025 2349 Chamonix Lane EHU Exchange Vail Local Housing Authority Memorandum 04082025.pdf 484574 Amendment to Restrictive Covenants 2349 Chamonix Lane-1.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:April 8, 2025 TIME:5 Mins SUBMITTED BY:Martha Anderson, Housing ITEM TYPE:Approval of Minutes AGENDA SECTION:Approval of Minutes (5 min.) SUBJECT:Approval of March 25, 2025 Minutes SUGGESTED ACTION: PRESENTER(S):Missy Johnson VAIL LOCAL HOUSING AUTHORITY AGENDA ITEM REPORT ATTACHMENTS: 2 AGENDA ITEM NO. 4.1 Item Cover Page DATE:April 8, 2025 TIME:15 Mins SUBMITTED BY:Martha Anderson, Housing ITEM TYPE:Main Agenda AGENDA SECTION:Main Agenda (30 min.) SUBJECT:2349 Chamonix Lane EHU Exchange Application SUGGESTED ACTION: PRESENTER(S):George Ruther, Principal, Ruther Associates LLC VAIL LOCAL HOUSING AUTHORITY AGENDA ITEM REPORT ATTACHMENTS: 2349 Chamonix Lane EHU Exchange Vail Local Housing Authority Memorandum 04082025.pdf 484574 Amendment to Restrictive Covenants 2349 Chamonix Lane-1.pdf 3 ____________________________________ 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, 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 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 two-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.” Uniquely, the deed-restriction “expires 20 years from the date of execution of the agreement, plus the life of Tiffany Lowenthal.” Unless Tiffany Lowenthal lives in perpetuity, upon her passing, 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 4 ____________________________________ 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 lost. IV. Recommendation The applicant has demonstrated full compliance with the applicable provisions of the Vail Town Code. To that end, the applicant recommends that the Vail Local Housing Authority recommends approval of 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, 5 ____________________________________ • 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. The Vail Local Housing Authority members recommended that the payment in lieu fee be deposited in the Town Housing Fund, or similar reinvestment accounts, and used to increase and leverage the supply of deed restrictions in the Town of Vail. 6 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« 7 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 8 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 9 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 10 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 11 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- 12 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: 13 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 14 AGENDA ITEM NO. 4.2 Item Cover Page DATE:April 8, 2025 TIME:15 Mins SUBMITTED BY:Martha Anderson, Housing ITEM TYPE:Main Agenda AGENDA SECTION:Main Agenda (30 min.) SUBJECT:Discussion Regarding the Vail InDEED Program SUGGESTED ACTION: PRESENTER(S):Martha Anderson, Senior Housing Coordinator VAIL LOCAL HOUSING AUTHORITY AGENDA ITEM REPORT ATTACHMENTS: 15