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HomeMy WebLinkAbout2025-09-09 VLHA Meeting Minutes Vail Local Housing Authority Minutes Tuesday, September 9, 2025 3:00 PM Vail Town Council Chambers and virtually by Zoom. Zoom meeting link: https://vail.zoom.us/j/82534922212 Present: Steve Lindstrom Dan Godec Christine Santucci Absent: Craig Denton Kristin Kenney Williams Staff: Jason Dietz, Anna Bengtson, Missy Johnson 1. Call to Order (3:02pm) 2. Citizen Participation No comments. 3. Approval of Minutes (5 min.) 3.1 Approval of July 23, 2025 VLHA - Special Meeting Minutes 2025-07-23 VLHA Meeting Minutes.pdf Tabled to the next meeting. 3.2 Approval of August 12, 2025 VLHA Meeting Minutes 2025-08-12 VLHA Meeting Minutes.pdf Dan Godec made a motion to Approve; Christine Santucci seconded the motion Passed (3 - 0). 4. Main Agenda 4.1 Housing Project Update Presenter(s): Anna Bengtson, Housing Development Specialist Time: 15 min Bengtson reviewed project status for Timber Ridge including current focus of moving forward with construction and planning for future open houses for sales outreach. They are facing challenges with parking on Lions Ridge Loop but remain on schedule for certificate of occupancy (COs). Discussion ensued, led by Dietz, around Town purchases, the availability of the residences and the financial strategy in place to recover Town's investment. The town plans to purchase 47 units. A financial strategy is in place, expecting to recover part of the investment via sales. Dietz stated that currently it is mostly individuals who have signed contracts to purchase Timber Ridge residences including 96 contracts for individuals, 20 contracts are Habitat homes and 60 are for businesses. Vail Local Housing Authority Meeting Minutes of September 9, 2025 1 Cash Flow and budget concerns were discussed and Dietz reiterated that sales contracts are substantial, implying future cash inflow. Any remaining funds from loans will follow a defined plan for repayment. The town expects $20 million to be returned from a $25.5 million investment as part of a financial agreement. Additional financing may come from Eagle County because they are considering reallocating funds for collaborative projects with Habitat for Humanity. It will go forward to the Eagle County BOCC on September 23, 2025. Bengtson continued with the South Face Vail project updates including the slow transition to the name from West Middle Creek to 'South Base Vail'. The development and strategic team is reviewing and developing branding and reviewing logos for the project. Construction activities include soil nail wall construction, material export for the next month or two. Additional off-site storm water drainage work is starting soon, affecting pedestrian pathways. The project is on schedule and on budget. 4.2 Housing Policy Discussion and Prioritizing Future Topics Presenter(s): Steve Lindstrom, VLHA Chair and Jason Dietz, Housing Director Time: 25 min Dietz reviewed the EHU Credit and Exchange Program updates. Under the direction of Town Council, the EHU credit program updates and exchange program modifications are in the pipeline, which will include future code amendments. This includes proposed changes to existing codes to allow more flexibility in negotiating for owners to purchase out of deed restrictions, particularly older deed restrictions. This will be brought to the PEC on Sept. 22 and to VLHA on Sept. 23 meeting. Additional discussion included revision to the current Timber Ridge EHU deed restriction credit program with more to come to the VLHA on Sept. 23. Town Council already approved the EHU credit program by resolution. The EHU exchange program will be presented to PEC, VLHA and Council. Santucci requested a case study to better understand the proposed changes. Dietz reviewed additional recommendations for the housing staff and VLHA to work together in the coming months to increase efficiency and improve housing policy. Topics like capital improvement policy, the lottery process, deed restriction language and more. Review of existing code to enhance administrative processes of compliance, and to embrace technology for better compliance, reporting and community engagement. Consideration of the administration of Vail InDEED applications, investment limitations and possibly Vail InDEED 2.0. and further consideration of holding the VLHA meetings once/month as a standard versus twice/month. Strategic initiatives for future projects to include exploring possibilities for streamlining housing policies and enhancing affordable housing development. Dietz mentioned there will be upcoming budget discussions and Town discussions to address potential funding gaps in capital projects. Lindstrom mentioned the need to determine the budgeting necessary to move the East Vail CDOT project forward with continued momentum. Vail Local Housing Authority Meeting Minutes of September 9, 2025 Lindstrom suggested the VLHA has an opportunity to take a closer look at the lottery process and Vail InDEED to determine what is the gap that we need to buy-down. Additional project priorities include continued work with EPS, a future VLHA update to Council in early December and the mention of the ongoing research towards Residential Linkage for the future replacement of inclusionary zoning. Lindstrom suggested January is a good time for everyone to get up to speed and to present the findings to PEC. 5. Matters from the Chairman and Authority Members 6. Adjournment Meeting adjourned at 3:44 p.m. 7. Next Meeting Date Tuesday, Sept. 23 Vail Local Housing Authority Meeting Minutes of September 9, 2025 3