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HomeMy WebLinkAbout2024-10-08 VLHA Minutes Vail Local Housing Authority Minutes Tuesday, October 8, 2024 3:00 PM Virtual via Zoom PRESENT ABSENT Steve Lindstrom Craig Denton Dan Godec Kristin Williams Christine Santucci STAFF Jason Dietz, Housing Director Martha Anderson, Senior Housing Coordinator Missy Johnson, Housing Coordinator 1. Call to Order 1. 1 Call to Order 1.2 Zoom Meeting Meeting called to order at 3:04 p.m. 2. Citizen Participation 2. 1 Citizen Participation - No participation. 3. Approval of Minutes 3.1 VLHA September 24, 2024 Minutes Presenter(s): Missy Johnson, Housing Coordinator 2024-09-24 VLHA Minutes.pdf MOTION: Williams SECOND: Santucci PASSED: 3-0 4. Main Agenda 4.1 2020-2024 Housing Purchase Summary Presenter(s): Carlie Smith, Finance DIrector Time: 30 Min. VLHA TOV Budgeting Process.pdf VLHA Housing Purchase Summary.pdf HF 5 Year History and Projection.pdf Russell Forrest, Kathleen Halloran and Carlie Smith were present during this agenda item discussion. The group revisited the budget information that was presented at the previous Authority meeting. Dietz began by providing a summary of the financials as provided at the previous Authority meeting. He clarified the $ 2.5M that has typically been earmarked for Vail InDEED funding and the ways in which it is utilized when not used for Vail InDEED. Lindstrom's desire is to be better able to view the numbers and seeks clarification as to how the housing sales tax dollars are used generally. Smith confirmed that the $2.5M is not a written policy. Each year, at budget time, the Council helps to direct the spending. Over time, the amount of funding necessary for Vail InDEED has decreased and like any fund, it is looked at to be appropriated for other projects or returns to the Town of Vail Housing fund balance. Finance confirmed that it is best practice to use the most restricted fund first. The remainder of the Housing fund is used for other community housing projects and purposes. Santucci asked if there a directive from the Council that the Authority should be looking for additional ways to use the funds? Forrest commented that there is clear strategic direction to use the funds for Timber Ridge, West Middle Creek and other opportunities and the plate is very full right now. Discussion ensued with additional clarification points of the financial statements. Smith went through a variety of clarification points and mentioned that she would be providing a capital projects and budget update to the Council at the October 15th meeting which would precede the update from the Vail Local Housing Authority. The budget process is very transparent and shown to Council at least four times per year and the spreadsheets in review are the format that Council sees throughout the year. Discussion ensued around the current flow of funds and Lindstrom inquired about three years ahead and consideration of a future strategic plan. Smith stated that there are more housing projects than what the housing fund can cover. Smith confirmed that the Capital discussion will be part of an upcoming Council meeting, which very much includes Housing and the presentation will be covered by the finance department, led by Smith and graphics will be included. 4.2 Discussion on Semi-Annual Update to Town Council Presenter(s): Steve Lindstrom, VLHA Chairman and Jason Dietz, Housing Director Time: 30 Min. The finance discussion was helpful for the Authority, creating clarity and confidence that finance would be presenting the housing finances at the upcoming Town Council Meeting. Discussion ensued around the memo planned for the Housing update at the upcoming Town Council meeting. Williams commented regarding Community stakeholder communication and data points in the future from the Authority or the housing staff. There is curiosity around who is living in these units, and why the R/O restriction is Eagle County and not just Town of Vail. She sees this data as a value for now and in the long run as we seek greater regional funding partners. The questions are who is living in the housing and where are they working, and possibly what is the continuum of the need? Dietz reminded the group that The Housing needs assessment will start to be presented in November to groups within the mountain region. Williams reminded the Authority of the suggestion to get creative regarding the many housing solutions and that each project may look differently. Ideally, show the success of who is living in these projects and show that it is a strong opportunity for regional private-public partner investment. Housing staff will regroup with Lindstrom to finalize the memo this week. 5. Matters from the Chairman and Authority Members 5. 1 Matters from the Chairman and Authority Members Presenter(s): Steve Lindstrom, VLHA Chairman Time: 5 Min. Timber Ridge ground breaking will take place tomorrow at NOON. Any and all are welcome and encouraged to attend. The agenda for the Town Council meeting is not yet finalized for October 15 but Authority members are encouraged to attend as part of the afternoon session. 6. Adjournment 6.1 Adjournment 5:00 PM (Estimate) Meeting adjourned at 3:58 p.m. Items were covered and there were technical Zoom issues. 7. Future Agenda Items 7.1 Discussion on Eagle County Employment Qualifications 8. Next Meeting Date 8.1 Next Meeting Date October 22, 2024