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2011-03-15 Agenda and Support Documentation Town Council Evening Session
VAIL TOWN COUNCIL EVENING SESSION AGENDA "fi TOW VAIL TOWN COUNCIL CHAMBERS 75 S. Frontage Road W. Vail, CO 81657 6:00 P.M., MARCH 15, 2011 NOTE: Times of items are approximate, subject to change, and cannot be relied upon to determine at what time Council will consider an item. 1. ITEM /TOPIC: Citizen Participation (15 min.) PRESENTER(S): Public 2. ITEM /TOPIC: Recognition of Howard & Cathy Stone, Vail Jazz Foundation (5 min.) 3. ITEM /TOPIC: Colorado Judicial Branch presentation to Vail for hosting 2010 CCJ /COSCA conference (5 min.) PRESENTER(S): Mindy Masias, Colorado Judicial Branch 4. ITEM /TOPIC: Town Manager Report (15 min.) PRESENTER(S): Misc. 5. ITEM /TOPIC: An introduction to the proposed Ever Vail project and a review of the development review process. Lionshead Redevelopment Master Plan (Resolution No. 6, Series of 2011 A request for a recommendation to the Vail Town Council for an amendment to the Lionshead Redevelopment Master Plan, pursuant to Section 2.8, Adoption and Amendment of the Master Plan, Lionshead Redevelopment Master Plan, to amend the detailed plan recommendations for West Lionshead (Ever Vail), and setting forth details in regard thereto. (PEC 110002) Major Subdivision: A request for a review of a preliminary plan for a major subdivision, pursuant to Chapter 13 -3, Major Subdivision, Vail Town Code, to allow for the creation of two lots for the redevelopment of the properties known as Ever Vail (West Lionshead), located at 862, 923, 934, 953, 1000 and 1031 South Frontage Road West, and the South Frontage Road West right -of- way /unplatted (a complete legal description is available for inspection at the Town of Vail Community Development Department), and setting forth details in regard thereto. (PEC080062) Rezoning (Ordinance No. 7, Series of 2011Y A request for a recommendation to the Vail Town Council for a zone district 3/15/2011 boundary amendment, pursuant to Section 12 -3 -7, Amendment, Vail Town Code, to allow for a establish Lionshead Mixed Use 2 District zoning on Parcels 1 and 2 of the Ever Vail Subdivision located generally at 862, 923, 934, 953, 1000, and 1031 South Frontage Road, and the South Frontage Road rig ht-of-way/un platted (a complete legal description is available for inspection at the Town of Vail Community Development Department), and setting forth details in regard thereto. (PEC080061) Special Development District Amendment (Ordinance No. 8, Series of 2011Y A request for a recommendation to the Vail Town Council for a major amendment to Special Development District No. 4, Cascade Village, pursuant to Section 12- 9A -10, Amendment Procedures, Vail Town Code, to allow for the removal of Development Area D (Glen Lyon Office Building) from Special Development District No. 4, Cascade Village, and for a zone district boundary amendment, pursuant to Section 12 -3 -7, Amendment, Vail Town Code, to include the subject property in the Lionshead Mixed Use 2 District, located at 1000 South Frontage Road West/Lot 54, Glen Lyon Subdivison, and setting forth details in regard thereto. (PEC090036) Title 12, Zoning Regulations, Vail Town Code, Amendment ( Ordinance No. 9, Series of 2011): A request for a final recommendation to the Vail Town Council for prescribed regulation amendments, pursuant to Section 12 -3 -7, Amendment, Vail Town Code, to amend Section 12- 10 -19, Core Areas Identified, Vail Town Code, to amend the core area parking maps to include "Ever Vail" (West Lionshead) within the "Commercial Core" designation, and setting forth details in regard thereto. (PEC080065) (60 min.) PRESENTER(S): George Ruther, Warren Campbell, Dominic Mauriello, Tom Miller ACTION REQUESTED OF COUNCIL: The Community Development Department requests the Vail Town Council continue the Major Subdivison, Ordinance No. 7, 8, and 9, Series of 2011, and Resolution No. 6, Series of 2011 to the April 5, 2011 public hearing. BACKGROUND: Lionshead Redevelopment Master Plan: On January 24, 2011, the Planning and Environmental Commission forwarded a recommendation of approval, with conditions, for proposed amendments tot he Lionshead Redevelopment Master Plan, by a vote of 3 -1- 2 (Rediker opposed, Viele and Cartin recused). Major Subdivision: On January 10, 2011, the Planning and Environmental Commission forwarded a recommendation of approval, with conditions, on the preliminary plan for the major subdivision to establish Parcels 1 and 2 of the Ever Vail Subdivision, by a vote of 5 -0 -2 ( Viele and Cartin recused). Rezoning: On January 10, 2011, the Planning and Environmental Commission forwarded a recommendation of approval, with conditions, for a zone district boundary amendment to establish Lionshead Mixed Use 2 District zoning on Parcels 1 and 2 of the Ever Vail Subdivision, by a vote of 5 -0 -2 ( Viele and Cartin recused). 3/15/2011 Special Development District Amendment: On January 24, 2011, the Planning and Environmental Commission forwarded a recommendation of approval, with conditions, for a major amendment to Special Development District (SDD) No. 4, Cascade Village, to remove the Glen Lyon Office Building from the SDD in order for it to be incorporated into the Ever Vail Subdivision, by a vote of 4 -0 -2 (Viele and Cartin recused). Title 12, Zoning Regulations, Vail Town Code, Amendment: On January 11, 2010, the Planning and Environmental Commission forwarded a recommendation of approval, with conditions, for a prescribed regulations amendment to Section 12- 10 -19, Core Areas Identified, Vail Town Code, by a vote of 4 -0 -2 (Viele and Cartin recused). STAFF RECOMMENDATION: The Community Development Department recommends the Vail Town Council continue the public hearing on the request for the Major Amendment, Ordinance No. 7, 8, and 9, Series of 2011, and Resolution No. 6, Series of 2011 to the April 5, 2011 public hearing. 6. ITEM /TOPIC: Second reading of Ordinance No. 6, Series of 2011, An Ordinance making supplemental appropriations to the Town of Vail General Fund, Capital Projects Fund, Real Estate Transfer Tax Fund, Dispatch Services Fund, and Heavy Equipment Fund of the 2011 Budget for the Town of Vail, Colorado; and authorizing the expenditures of said appropriations as set forth herein; and setting forth details in regard thereto. This item also includes a response from the Vail Valley Foundation regarding a funding request for the 2015 Alpine Ski World Championships. (40 min.) PRESENTER(S): Kathleen Halloran; Ceil Folz; Harry Frampton ACTION REQUESTED OF COUNCIL: Approve or approve with amendments Ordinance No. 6 Series of 2011. BACKGROUND: To be provided in a separate memo. STAFF RECOMMENDATION: Staff recommends that the Town Council approves or approves with amendments Ordinance No. 6, Series of 2011, upon second reading. 7. ITEM /TOPIC: Presentation of the 2010 year -end investment report. (5 min.) PRESENTER(S): Kathleen Halloran ACTION REQUESTED OF COUNCIL: No action requested. BACKGROUND: Section 2 -2 -8 of the Town Code requires an annual presentation of the town's investment report, which is also provided as a written report for each quarter. This agenda item is a presentation of the town's investment report as of December 31, 2010. 8. ITEM /TOPIC: November 2011 Election Discussion: At the Polls or Mail 3/15/2011 Ballot election (15 min.) PRESENTER(S): Pam Brandmeyer ACTION REQUESTED OF COUNCIL: The Town Council needs to make a decision on whether to hold an At- the -Polls election or a Mail Ballot election for the November 8, 2011 regular election of the Town of Vail. BACKGROUND: The town's charter states, "Section 2.3 - Municipal Elections: A regular municipal election shall be held on the first Tuesday following the first Monday in November ". Due to this provision of the charter, the town does not have an option to have a coordinated election with Eagle County, as the date of the State and County election will be held on the first Tuesday in November, which is November 1, 2011. Other options are: 1) have an at- the -polls election; or 2) have a mail ballot election. 9. ITEM /TOPIC: Town of Vail Real Estate Transfer Tax Exemption Appeal for the property known as 600 Vail Drive A -5 and Parking Unit AP -25 Northwoods Condominiums, Vail, CO. 81657. (15 min.) PRESENTER(S): Matt Mire ACTION REQUESTED OF COUNCIL: Uphold or reverse the Town Manager's denial of the Real Estate Transfer Tax Exemption Application. BACKGROUND: Appeal of the Town Manager's denial of the real estate transfer tax ( "RETT ") exemption application filed by Bonnie Hughey ( "Appellant ") concerning property located in the Northwoods Condominiums (the "Property "). On November 18, 2010, Appellant, as Vice President of Pacific Condor and as Manager of Parpolcondor filed an application for a RETT exemption for the September 29, 2010 transfer of the Property (the "Transfer "). The basis for the exemption request is that the Transfer was made to an organization that is owned by the same party that owns the grantor organization and that no funds were exchanged, other than a promissory note by the same party that owns both the grantor and grantee organizations. On December 2, 2010, the Town Manager denied the Appellant's exemption application. Appellant has appealed the Town Manager's denial on the grounds that the Transfer was made to an organization which is owned by persons having the same interest in the seller, and that no actual consideration was paid in the Transfer. To qualify for a RETT exemption, Appellant must prove that: (1) the Property owners must have the same relative interest in Parpolcondor as they had in the Property before the Transfer; and (2) there is no consideration paid in the Transfer. 10. ITEM /TOPIC: Appoint three members to the Art in Public Places (AIPP), two members to the Design Review Board (DRB) and three members to the Planning and Environmental Commission (PEC). (10 min.) PRESENTER(S): Pam Brandmeyer 3/15/2011 ACTION REQUESTED OF COUNCIL: The Council interviewed all interested parties at the work session and the Council needs to appoint three members to the AIPP for three year terms; two members to the DRB for two year terms and three members to the PEC for two year terms at the evening meeting. Please note that Susan Frampton, if reappointed, can serve two of the three year term on the Al PP due to term limits. BACKGROUND: The town received ten letters of interest for the open positions on the AIPP, DRB and PEC as follows (incumbent board members are asterisked): AIPP: Cookie Flaum* Susan Frampton* (can only serve 2 years out of the 3 year term) Allison Krausen Kathy Langenwalter* DRB: Tom DuBois* Andrew Forstl Brian Gillette* PEC: Luke Cartin* Pam Hopkins Michael Kurz* STAFF RECOMMENDATION: Please appoint three members to the AIPP; two members to the DRB; and three members to the PEC at the evening meeting. 11. ITEM /TOPIC: Construction contract approval for the Frontage Road Shoulder Widening Project (10 min) PRESENTER(S): Gregg Barrie ACTION REQUESTED OF COUNCIL: Authorize the Town Manager to enter into a Construction Agreement with Columbine Hills Concrete, Inc. for the construction of the Frontage Road Shoulder Widening. BACKGROUND: The Frontage Road Shoulder Widening project will provide 6' wide paved shoulders to the Frontage Road from the east end of Ford Park through the East Vail Interchange. The Town recieved nine qualified bids for the work. The original bid included the work from Ford Park through the Bald Mountain Underpass. However, because the submitted bids were lower than anticipated, staff is recommending that the full lenght of the project be completed during the summer of 2011. The contractor has agreed to hold unit prices for the expanded work. STAFF RECOMMENDATION: Authorize the Town Manager to enter into a Construction Agreement with Columbine Hills Concrete, Inc. for the construction of the Frontage Road Shoulder Widening in an amount not to exceed $1,246,000 to include the widening from the east end of Ford Park through the East Vail Interchange. 12. ITEM /TOPIC: Continuance of Second reading of Ordinance No. 15, Series 3/15/2011 of 2010, an ordinance amending Chapter 12 -6, Residential Districts, Vail Town Code, to establish the Vail Village Townhouse (VVT) District, and setting forth details in regard thereto. (5 minutes) PRESENTER(S): Bill Gibson, Planner ACTION REQUESTED OF COUNCIL: The applicant is requesting that the Vail Town Council table the second reading of Ordinance No. 15, Series of 2010, to its May 3, 2011 public hearing. BACKGROUND: On October 5, 2010 the Vail Town Council approved the first reading of Ordinance No. 15, Series of 2010, by a vote of 5 -2 -0 (Rogers and Tjossem opposed). At subsequent public hearings, the Vail Town Council tabled the second reading to allow staff and the applicant time to gather additional information for the Council's review. Since those hearings, Staff has continued to collaborate with the applicant and the Town's consultant to establish a new zone district that allows for redevelopment yet preserves the existing character of the neighborhood. The applicant is requesting that the Vail Town Council table the second reading of Ordinance No. 15, Series of 2010, to its April 5, 2011 public hearing. STAFF RECOMMENDATION: Staff recommends the Vail Town Council table the second reading of Ordinance No. 15, Series of 2010, to its May 3, 2011 public hearing. 13. ITEM /TOPIC: Resolution 23, Series of 2010, a resolution amending Chapter VII, Vail Village Sub - Areas, East Gore Creek Sub -Area ( #6) to include recommendations related to a new Vail Village Townhouse (VVT) District, and setting forth details in regard thereto. (5 minutes) PRESENTER(S): Bill Gibson, Planner ACTION REQUESTED OF COUNCIL: The applicant is requesting that the Vail Town Council table Resolution 23, Series of 2010, to its April 5, 2011 public hearing. STAFF RECOMMENDATION: Staff recommends the Vail Town Council tables Resolution No. 23, Series of 2010, to its April 5, 2011 public hearing. 14. ITEM /TOPIC: Adjournment (9:25 p.m.) 3/15/2011 ITL1 Oil VAIL TOWN COUNCIL AGENDA MEMO MEETING DATE: March 15, 2011 ITEM /TOPIC: Citizen Participation PRESENTER(S): Public 3/15/2011 ITL1 Oil VAIL TOWN COUNCIL AGENDA MEMO MEETING DATE: March 15, 2011 ITEM /TOPIC: Recognition of Howard & Cathy Stone, Vail Jazz Foundation 3/15/2011 ITL1 Oil VAIL TOWN COUNCIL AGENDA MEMO MEETING DATE: March 15, 2011 ITEM /TOPIC: Colorado Judicial Branch presentation to Vail for hosting 2010 CCJ /COSCA conference PRESENTER(S): Mindy Masias, Colorado Judicial Branch 3/15/2011 ITL1 Oil VAIL TOWN COUNCIL AGENDA MEMO MEETING DATE: March 15, 2011 ITEM /TOPIC: Town Manager Report PRESENTER(S): Misc. 3/15/2011 ITL1 Oil VAIL TOWN COUNCIL AGENDA MEMO MEETING DATE: March 15, 2011 ITEM /TOPIC: An introduction to the proposed Ever Vail project and a review of the development review process. Lionshead Redevelopment Master Plan (Resolution No. 6, Series of 2011 A request for a recommendation to the Vail Town Council for an amendment to the Lionshead Redevelopment Master Plan, pursuant to Section 2.8, Adoption and Amendment of the Master Plan, Lionshead Redevelopment Master Plan, to amend the detailed plan recommendations for West Lionshead (Ever Vail), and setting forth details in regard thereto. (PEC 110002) Major Subdivision: A request for a review of a preliminary plan for a major subdivision, pursuant to Chapter 13 -3, Major Subdivision, Vail Town Code, to allow for the creation of two lots for the redevelopment of the properties known as Ever Vail (West Lionshead), located at 862, 923, 934, 953, 1000 and 1031 South Frontage Road West, and the South Frontage Road West right -of- way/unplatted (a complete legal description is available for inspection at the Town of Vail Community Development Department), and setting forth details in regard thereto. (PEC080062) Rezoning (Ordinance No. 7, Series of 2011y 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 a establish Lionshead Mixed Use 2 District zoning on Parcels 1 and 2 of the Ever Vail Subdivision located generally at 862, 923, 934, 953, 1000, and 1031 South Frontage Road, and the South Frontage Road right -of- way /unplatted (a complete legal description is available for inspection at the Town of Vail Community Development Department), and setting forth details in regard thereto. (PEC080061) Special Development District Amendment (Ordinance No. 8, Series of l y. A request for a recommendation to the Vail Town Council for a major amendment to Special Development District No. 4, Cascade Village, pursuant to Section 12- 9A -10, Amendment Procedures, Vail Town Code, to allow for the removal of Development Area D (Glen Lyon Office Building) from Special Development District No. 4, Cascade Village, and for a zone district boundary amendment, pursuant to Section 12 -3 -7, Amendment, Vail Town Code, to include the subject property in the Lionshead Mixed Use 2 District, located at 1000 South Frontage Road West /Lot 54, Glen Lyon Subdivison, and setting forth details in regard thereto. (PEC090036) Title 12, Zoning Regulations, Vail Town Code, Amendment ( Ordinance No. 9, Series of 2011Y. A request for a final recommendation to the Vail Town Council for prescribed regulation amendments, pursuant to Section 12 -3 -7, Amendment, Vail Town Code, to amend Section 12- 10-19, Core Areas Identified, Vail Town Code, to amend the core area parking maps to include "Ever Vail" (West Lionshead) within the "Commercial Core" designation, and setting forth details in regard thereto. (PEC080065) PRESENTER(S): George Ruther, Warren Campbell, Dominic Mauriello, Tom Miller 3/15/2011 ACTION REQUESTED OF COUNCIL: The Community Development Department requests the Vail Town Council continue the Major Subdivison, Ordinance No. 7, 8, and 9, Series of 2011, and Resolution No. 6, Series of 2011 to the April 5, 2011 public hearing. BACKGROUND: Lionshead Redevelopment Master Plan: On January 24, 2011, the Planning and Environmental Commission forwarded a recommendation of approval, with conditions, for proposed amendments tot he Lionshead Redevelopment Master Plan, by a vote of 3 -1 -2 (Rediker opposed, Viele and Cartin recused). Major Subdivision: On January 10, 2011, the Planning and Environmental Commission forwarded a recommendation of approval, with conditions, on the preliminary plan for the major subdivision to establish Parcels 1 and 2 of the Ever Vail Subdivision, by a vote of 5 -0 -2 ( Viele and Cartin recused). Rezoning: On January 10, 2011, the Planning and Environmental Commission forwarded a recommendation of approval, with conditions, for a zone district boundary amendment to establish Lionshead Mixed Use 2 District zoning on Parcels 1 and 2 of the Ever Vail Subdivision, by a vote of 5 -0 -2 ( Viele and Cartin recused). Special Development District Amendment: On January 24, 2011, the Planning and Environmental Commission forwarded a recommendation of approval, with conditions, for a major amendment to Special Development District (SDD) No. 4, Cascade Village, to remove the Glen Lyon Office Building from the SDD in order for it to be incorporated into the Ever Vail Subdivision, by a vote of 4 -0 -2 ( Viele and Cartin recused). Title 12, Zoning Regulations, Vail Town Code, Amendment: On January 11, 2010, the Planning and Environmental Commission forwarded a recommendation of approval, with conditions, for a prescribed regulations amendment to Section 12- 10 -19, Core Areas Identified, Vail Town Code, by a vote of 4 -0 -2 ( Viele and Cartin recused). STAFF RECOMMENDATION: The Community Development Department recommends the Vail Town Council continue the public hearing on the request for the Major Amendment, Ordinance No. 7, 8, and 9, Series of 2011, and Resolution No. 6, Series of 2011 to the April 5, 2011 public hearing. 3/15/2011 ITL1 Oil VAIL TOWN COUNCIL AGENDA MEMO MEETING DATE: March 15, 2011 ITEM /TOPIC: Second reading of Ordinance No. 6, Series of 2011, An Ordinance making supplemental appropriations to the Town of Vail General Fund, Capital Projects Fund, Real Estate Transfer Tax Fund, Dispatch Services Fund, and Heavy Equipment Fund of the 2011 Budget for the Town of Vail, Colorado; and authorizing the expenditures of said appropriations as set forth herein; and setting forth details in regard thereto. This item also includes a response from the Vail Valley Foundation regarding a funding request for the 2015 Alpine Ski World Championships. PRESENTER(S): Kathleen Halloran; Ceil Folz; Harry Frampton ACTION REQUESTED OF COUNCIL: Approve or approve with amendments Ordinance No. 6 Series of 2011. BACKGROUND: To be provided in a separate memo. STAFF RECOMMENDATION: Staff recommends that the Town Council approves or approves with amendments Ordinance No. 6, Series of 2011, upon second reading. ATTACHMENTS: 1st Supp 2nd read 3/15/2011 MEMORANDUM To: Town Council From: Stan Zemler Judy Camp Kathleen Halloran Date: March 10, 2011 Subject: Ordinance 6 — 1" Supplemental of 2011 On Tuesday evening, you will be asked to approve the first supplemental appropriation of 2011 upon second reading. Changes from first reading The following changes have occurred since the first reading of this ordinance: General Fund: Council requested additional information from the Vail Valley Foundation regarding return on investment for the 5 -year $1.2 million contribution to the 2015 World Alpine Ski Championships ($250,000 included in this supplemental for 2011). Please see attached presentation from the Vail Valley Foundation. Capital Projects Fund: The following items were removed from the first reading of the supplemental, as directed by Council during the March 1 st meeting: • $239,015 eliminated from Parking Structure capital maintenance because it was requested for the implementation of an energy plan. The plan will be presented to Council within the next few months, and the budget will be adjusted at a later date. • $691,754 eliminated from Facility Capital Maintenance for the same reason above. • $459,679 eliminated from Capital Street Maintenance because they related to a series of projects that have not been individually approved by Council yet. In response to a question about the amount needed for design of the Vail Valley Drive road reconstruction project: Out of a the requested re- appropriation of $238,701, approximately $175,000 is needed to pay final bills from the Mill Creek Circle reconstruction project and the remaining $63,000 is needed for design of Vail Valley Drive 3/15/2011 6 -1 -1 TOWN OF VAIL 2011 BUDGET SUMMARY OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE GENERALFUND 2010 2011 2011 Amended 2010 Variance Original 1st Proposed Budget Unaudited Fav /(U nfav) Budget Supplemental Amended Comments Revenue Local Taxes: $ 16,600,000 $ 17,676,115 $ 1,076,115 $ 16,900,000 $ 16,900,000 Sales Tax Split b/t Gen'I Fund & Capital Fund 61/39 57/43 61139 61/39 Sales Tax $ 10,143,624 $ 10,143,624 $ - $ 10,310,000 - $ 10,310,000 Property and Ownership 5,013,647 4,951,490 (62,157) 5,055,000 - 5,055,000 Ski Lift Tax 3,115,000 3,357,717 242,717 3,193,000 - 3,193,000 Franchise Fees, Penalties, and Other Taxes 1,074,564 1,040,424 (34,140) 1,087,402 - 1,087,402 Licenses & Permits 1,207,200 1,387,336 180,136 732,200 - 732,200 Intergovernmental Revenue 1,927,208 1,929,121 1,913 1,524,065 1,300 1,525,365 FEMA grant for training (offset by expense) Transportation Centers 4,932,744 5,037,042 104,298 4,911,500 - 4,911,500 Charges for Services 799,768 843,324 43,556 702,963 90,000 792,963 Volvo contract 2011 ($50K uniforms, $40K cash) Fines & Forfeitures 260,000 271,561 11,561 305,000 - 305,000 Earnings on Investments 115,000 118,636 3,636 194,000 - 194,000 Rental Revenue 882,796 862,151 (20,645) 869,816 - 869,816 Comcast reimbursement for negotiations expense ($23K) Miscellaneous and Project Reimbursements 407,800 386,271 (21,529) 161,658 56,699 218,357 and 3rd party insurance reimbursement for parking structure accidents ($33K) Total Revenue 29,879,351 30,328,698 449,347 29,046,604 147,999 29,194,603 Expenditures Salaries 13,611,200 13,045,160 566,040 13,671,012 (65,854) 13,605,158 $14.7K Drug Task Force overtime paid by grant in 2010; $(80.6K) transfer town attorney to contract basis Benefits 4,621,972 4,620,971 1,001 4,595,579 (37,649) 4,557,930 Transfer town attorney to contract basis Subtotal Compensation and Benefits 18,233,172 17,666,131 567,041 18,266,591 (103,503) 18,163,088 Contributions and Special Events 1,285,025 1,283,494 1,531 1,348,750 250,000 1,598,750 2015 World Alpine Championships $168K town attorney contract at max; $33K repairs to All Other Operating Expenses 6,433,876 4,993,810 1,440,066 5,869,021 233,324 6,102,345 parking gates; $23K Comcast negotiations; $7K Guest Svc Enhancement consultant; $1.3K FEMA training Heavy Equipment Operating Charges 2,067,124 1,993,320 73,804 2,071,117 - 2,071,117 Heavy Equipment Replacement Charges 671,944 697,630 (25,686) 546,104 - 546,104 Dispatch Services 522,213 522,213 537.827 537,827 Total Expenditures 29,213,354 27,156,598 2,056,756 28,639,410 379,821 29,019,231 Revenue Over (Under) Expenditures 665,997 3,172,100 2,506,103 407,194 (231,822) 175,372 Transfer to Capital Projects Fund (3,749,000) (3,742,673) 6,327 - - Total Expenditures 32,962,354 30,899,271 2,063,083 28,639,410 379,821 29,019,231 Surplus Net of Transfers & New Programs (3,083,003) (570,573) 2,512,430 407,194 (231,822) 175,372 Beginning Fund Balance 23,423,417 23,423.417 20,340.414 2,512,430 22,852,844 Ending Fund Balance $ 20,340,414 $ 22,852,844 $ 20,747,608 $ 23,028,216 EHOP balance included in ending fund balance - not $ 690,000 $ q o0 $ - $ - spendable 3/1 9M -2- 6-1-2 TOWN OF VAIL 2011 BUDGET SUMMARY OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE GENERALFUND 2010 2011 Amended 2010 Variance 2011 1st Proposed Budget Unaudited Fav /(Unfav) Budget Supplemental Amended Revenue Local Taxes: $ 16,600,000 $ 17,676,115 $ 1,076,115 $ 16,900,000 $ 16,900,000 Sales Tax Split b/t Gen'I Fund & Capital Fund 61/39 57/43 61/39 61/39 Sales Tax $ 10.143,624 $ 10,143,624 $ - $ 10,310,000 - $ 10,310,000 Property and Ownership 5,013,647 4,951,490 (62,157) 5,055,000 - 5,055.000 Ski Lift Tax 3,115.000 3.357,717 242,717 3,193,000 - 3,193,000 Franchise Fees, Penalties, and Other Taxes 1,074,564 1,040,424 (34,140) 1,087,402 - 1,087,402 Licenses & Permits 1,207,200 1,387,336 180,136 732,200 - 732,200 Intergovernmental Revenue 1,927,208 1,929,121 1,913 1,524,065 1,300 1,525,365 Transportation Centers 4,932,744 5,037,042 104,298 4,911,500 - 4,911,500 Charges for Services 799,768 843,324 43,556 702,963 90,000 792,963 Fines & Forfeitures 260,000 271,561 11,561 305,000 - 305,000 Earnings on Investments 115,000 118,636 3,636 194,000 194,000 Rental Revenue 882,796 862,151 (20,645) 869,816 - 869,816 Miscellaneous and Project Reimbursements 407,800 386,271 (21,529) 161,658 56,699 218,357 Total Revenue 29,879,351 30,328,698 449,347 29,046,604 147,999 29,194,603 Expenditures by Type: Municipal Services: Town Officials 1,279126 1,162,640 116,486 1,295,860 73,428 1,369,288 Administrative Services & Risk Management 3,359,732 3,043,095 316,637 3,306,565 7,000 3,313,565 Community Development & Housing 2,017,525 1,722,407 295,118 1 - 1,644,765 Police 4,622,344 4,281,304 341,040 4,591,150 16,014 4,607,164 Police Communications 522,213 522,213 - 537,827 - 537,827 Fire 2,905,273 2,817,132 88,141 2,981,136 - 2,981,136 Public Works & Streets 3,652,561 1530,332 122.229 3,553,226 3,553,226 Transportation & Parking 4,701,320 4.495,643 205.677 4,661,727 33,379 4,695,106 Facilities 3,872,255 3,315,797 556,458 3,733,319 - 3,733,319 Library 805,119 794,879 10,240 800,580 - 800,580 Economic Development 1,475,886 1,471,156 4,730 1,533,255 250,000 1,783,255 Total Expenditures 29,213,354 27,156,598 2,056,756 28,639,410 379,821 29,019,231 Revenue Over (Under) Expenditures 665,997 3,172,100 2,506,103 407,194 (231,822) 175,372 Transfer to Capital Projects Fund (3,749,000) (3,742,673) 6,327 - - - Total Expenditures 32,962,354 30,899,271 2,063,083 28,639,410 379,821 29,019,231 Surplus Net of Transfers & New Programs (3,083,003) (570,573) 2,512,430 407,194 (231,822) 175,372 Beginning Fund Balance 23,423,417 23,423,417 20,340,414 2,512,430 22,852,844 Ending Fund Balance $ 20,340,414 $ 22,852,844 $ 20,747,608 $ 23,028,216 EHOP balance included in ending fund balance $ 690,000 $ 990,000 s s not spendable 3/15/2011 3 6 -1 -3 TOWN OF VAIL 2011 BUDGET SUMMARY OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE CAPITAL PROJECTS FUND 2011 2010 2010 Variance 2011 1st Proposed Amended Unaudited Fav /(Unfav) Budget Supplemental Amended Project Information Total Sales Tax Revenue: $ 16,600,000 $ 17,676,115 $ 1,076,115 $ 16,900,000 $ 16,900,000 2011 flat with 2009 actual; 2% per year thereafter Sales Tax Split between General Fund & 61/39 57/43 61/39 Capital Fund Sales Tax -Capital Projects Fund $ 6,474,000 $ 7,712,020 $ 1,238,020 $ 6,590,000 $ 6 Use Tax 1,050,000 1,103,119 53,119 500,000 500,000 No major projects assumed after 2009; 3% annual increase after 2011 Federal Grant Revenue 5,028,500 3,576,818 (1,451,682) 1,428,000 1,428,000 2010: $5.OM for transit center; $28.5K for Police Live Scan Interface software; 2011: $828K for bridge reconstruction, $600K buses Lease Revenue 184,500 183,170 (1,330) 184,500 184,500 Per Vail Commons commercial and residential leases Employee Housing Fee -In -Lieu 100,000 106,764 6,764 Project Reimbursement 1,455,100 1,507,522 52,422 Resale of Arosa duplex 816,000 816,541 541 Resale of Arosa duplex constructed by the town Earnings on Investments and Other 18,000 88,464 70,464 2009: Based on earnings at .5 %;2010 1%:2011 - 2014 at 2% Total Revenue 15,126,100 15,094,418 31,682 8,702,500 8,702,500 Maintain Town Assets Bus Shelters 27,000 1,046 25,954 27,900 27,900 Parking Structures 486,000 246,985 239,015 504,000 504,000 Re- appropriate approx. $130K for energy audit work, $20K for final payment of mechanic Facilities Capital Maintenance 1,073,000 231,246 841,754 450,000 175,000 625,000 garage doors at PW Shops; $25K added for Vail Village Inn loading & delivery facility improvements Library Roof Replacement 400,000 287,775 112,225 102,840 102,840 Final bills for Library root project; Savings of $9,400 Main Vail Station Roof Replacement - - - 250,000 250,000 Added roof replacement 5/4/10; station remodel previously included in 5 -year plan removed Need to gut plumbing: electrical wiring; roofing, etc.; asbestos and mold remediation; 4 units Creekside Housing Improvements 110,582 110,581 1 160,000 160,000 were completed in 2010; plan to do 4 more in 2011; in 2012, complete remaining 4 units and replace exterior siding, stairs and decks Vail Village Inn Condo Roof TON Portion) 17,000 17,000 17,000 17,000 Capital assessment from owners' association fors ace owned by town Street Light Improvements 67,500 67,496 4 67,500 67,500 New street lights and to refurbish residential lighting Capital Street Maintenance 730,000 270,321 459,679 1,153,500 1,153,500 On -going maintenance to roads and bridges including asphalt overlays, patching and repairs Flood incident repairs 9,040 992 8,048 8,048 8,048 To cover remaining bills for Gore Creek assessment Audio Visual 33,879 1,883 31,996 10,000 31,996 41,996 Re- appropriate for mixer board and cameras in the Council chambers for recording of meetings Document Imaging 130,592 115,956 14,636 116,000 14,636 130,636 Supplement for continuation of historical scanning (outside vendor); Annual maintenance, licensing and contract position thou 2011; later years annual software licensing Software Licensing 26,724 18,323 8,401 33,640 33,640 Upgrade Microsoft products on all equipment in 2010; renew licenses in future Hardware Purchases 95,200 95,158 42 65,000 65,000 Scheduled rotation of PCs, printers and servers Data Center (Computer Rooms) 15,000 7,117 7,883 15,000 15,000 Based on annual replacement schedule of security and power systems for 3 computer rooms Website and e- commerce 12,000 - 12,000 27,000 12,000 39,000 Rescheduled the website redevelopment to 2011 to coincide with the Guest Service Enhancement project Comm Dev ArcGIS System 25,700 3,472 22,228 1 16,000 16,000 Web access to town GIS information (similar to County's website GIS product) Fiber Optics in Buildings 24,376 24,375 1 17,000 17,000 Cabling / Network Infrastructure: to repair, maintain & upgrade Network upgrades 34,700 34,693 7 21,000 21,000 Computer network systems - replacement cycle every 3 -5 years Computer Aided Dispatch (CAD) / RMS Project 70,000 69,204 796 57,000 57,000 County -wide "Computer Aided Dispatch /Records Mgmt System" ; includes patrol car laptops and software used to ush information to TOM and other agencies Intergraph software upgrade 80 80,000 TON portion of upgrade to computer -aided dispatch system Live Scan Interface 28,500 14,250 14,250 - 14,250 14,250 Funded by grant above; re- appropriate for second half of project; Links our Live Scan software to other agencies Total Maintenance 3,416,793 1,617,873 1,798,920 3 374,770 3,446,310 3/15/2011 -4- 6-1-4 TOWN OF VAIL 2011 BUDGET SUMMARY OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE CAPITAL PROJECTS FUND 2011 2010 2010 Variance 2011 1st Proposed Amended Unaudited Fav /(Unfav) Budget Supplemental Amended Project Information Enhancement of Town Assets Gomm Dev Interactive Permit software 225,000 225,000 225,000 225,000 Replacement of Permit Plus software; allows for web access by customers New Fire Truck 570,000 316,083 253,917 253,917 253,917 New fire truck for additional station; Deposit made in 2010; delivery in 2011 Library Self -Check System 90,000 83,673 6,327 Funded by library grants West Meadow Drive 83,189 19,555 63,634 Village Streetscape 767,389 594,961 172,429 - 172,429 172,429 Re- appropriate for newspaper boxes (approx. $76K) and signage of $21,000 with remainderfor Guest Service Enhancement project (capital expense._some ofthis project bungled in RETT) Neighborhood Road Reconstruction 429,469 195,055 234,414 1,800,000 238,701 2,038,701 Re- appropriate to cover $175K final bill for Mill Creek Circle and $63K for design for Vail Valley Drive project, with construction budgeted in 2012 Neighborhood Bridge Reconstruction 150,000 4,118 145,882 1,050,000 145,882 1,195,882 Matterhorn Bridge reconstruction moved to 2011 due to CDOT fiscal year and requirements; Partial funding from federal grant Parking Entry System / Equipment 78,000 75,123 2,877 - - - Metered lots; equipment obsolete and not servicable by vendor; Time sensitive for installation p rior to next parking season Replace Buses 2,283,214 2,283,214 1,203,400 2,283,214 3,486,614 6 buses ordered in 2010 -will take delivery in 2011; 2011 2 Hybrid buses Timber Ridge Legal /Zoning 66,080 65,243 837 50,000 50,000 Continuation of negotiations, legal and rockfall mitigation efforts Manor Vail Street Plan 83,800 - 83,800 - 83,800 83,800 Expenditure related to impact fee paid by Manor Vail development; Keep funds in bugdet due to developer agreement Total Enhancements 4,826,141 1,353,811 3,472,331 4,053,400 3,452,943 7,506,343 New Assets LionsHead Transit Center (VRA) 5,500,000 4,410,909 1,089,091 - 1,089,091 1,089,091 Continuation of the project; $5.0 million from Federal grant; $288K transferred from VRA Welcome Center (VRA) 469,681 358,294 111,387 6,830,319 111,387 6,941,706 Continuation of the project; Funded by the Vail Reinvestment Authority (see Transfers below) Surface Parking Addition (VRA) 65,000 2,521 62,479 900,000 62,479 962,479 Continuation of the project; Funded by the Vail Reinvestment Authority (see Transfers below) East LionsHead Portal (VRA) - - - 200,000 200,000 Design work approved by Council Feb 1st; Originally budgeted entire project in 2012; Funded by the Vail Reinvestment Authority West LionsHead Portal (VRA) - - - 75,000 75,000 Design work approved by Council Feb 1st; Originally budgeted entire project in 2012; Funded by the Vail Reinvestment Authority Library Remodel 475,000 475,000 Funded by the Vail Reinvestment Authority (see Transfers below) West Vail Fire Station 5,300,000 3,296,382 2,003,618 2,003,618 2,003,618 To complete construction of West Vail Fire Station Arosa Drive - Duplex for Employee Housing 297,466 297,393 73 Development project for deed - restricted housin Buy-down Program 552,118 552,118 552,118 552,118 Carry forward program fundin Buy -down Program Funded by Pay -in -Lieu 186,000 - 186,000 - 217,803 217,803 Carry forward current balance of program funding: Housing funded directly by Pay -in -Lieu fees collected from developers Variable Message Signs / Way- Finding Re- appropriate for variable message sign installation;'2010: Solans $93.6K and Main Vail Improvements 193,653 23,381 170,272 180,000 170,272 350,272 off rani'2011: $180K for Main Vail off ramps: 2012: Four Seasons /Middle Creek; 2013: EverVail; 2014: $65K each for Ford Park and Vail Parking structure 1 -70 Noise 383,180 5,040 378,140 378,140 378,140 Re- appropriate for utility relocation for Bald Mountain berm extension Chamonix Area Planning 50,000 38,944 11,056 - 92,600 92,600 $80K for water /utility infrastructure done during construction of W Vail Fire Station; $12.61K final amount due to Martin & Martin Traffic Impact Fee study 21,645 21,645 Delayed; if additional work needed later, staff will come back to Council at that time Total New Assets: 13,018,743 8,432,864 4,585,879 8,385,319 4,952,508 13,337,827 Total Capital before Financing 21,261,677 11,404,547 9,857,130 15,510,259 8,780,221 24,290,480 3/15/2011 -s- 6-1-5 TOWN OF VAIL 2011 BUDGET SUMMARY OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE CAPITAL PROJECTS FUND 2011 2010 2010 Variance 2011 1st Proposed Amended Unaudited Favf(Unfav) Budget Supplemental Amended Project Information Debt Service and Financing Debt Service on Outstanding Bonds 2,273,959 2,273,957 2 2,279,572 2 Annual debt service payments Timber Ridge Debt Service Guarantee 925,000 925,000 925,000 925,000 Annual debt service guarantee - requirement of TR debt Total Debt Service and Financing: 3,198,959 2,273,957 2,279,572 925,000 3,204,572 Total Expenditures 24,460,636 13,678,504 10,782,132 17,789,831 9,705,221 27,495,052 Other Financing Sources (Uses) 2011: Welcome Center construction ($6.8M), Surface Parking $900K, Library renovation Transfer from Vail Reinvestment Authority (1,194,681) (1,070,365) 124,316 (8,520,319) (8,520,319) $475K and LH Pkg mtc $315K; 2012: LH Portal improvements $1.1 M, LH Pkg mile $365K; 2013: $2.5M complete LH Portal and LH Pkg mtc $31 OK: 2014 mtc $340K: 2015: mtc $350K Transfer from General Fund (3,749,000) (3,742,673) 6,327 - - $3,659,000 transfer of GF fund balance for West Vail Fire station; $83,673 transfer from Library grants to cover new self check system Revenue Over (Under) Expenditures (4,390,855) 6,228,951 10,619,806 (567,012) (9,705,221) (10,272,233) Beginning Fund Balance 11,233,206 11,233,206 6,842,351 10,619,806 17,462,157 Ending Fund Balance 6,842,351 17,462,157 6,275,339 7,189,924 'Promissory note due from Childrens' Garden of Leaning included in ending fund balance - not 10,000 spendable 15 2011 6- 6-1-6 TOWN OF VAIL 2011 BUDGET SUMMARY OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE REAL ESTATE TRANSFER TAX FUND Amended 2010 Variance 1st Amended 2010 Unaudited Fav /(Unfav) 2011 Supp 2011 Comments Base sales flat with 2009 through 2015; Over 5 -yr period, major redevelopment sales Real Estate Transfer Tax $ 6,083,000 $ 6,900,638 $ 817,638 $ 4,670,000 $ 4,670,000 assume only 2/3 of units sell at 80% of list for Four Seasons, Ritz and Solaris; then only 2 resales per year thereafter for all major redevelopment projects Federal Grants 17,000 13,100 (3,900) - Federal grants for Stephen's Park restoration ($6K), $31K for NWCOG Regional Energy Efficiency grant; $81K for weed control Golf Course Lease 122,000 126,768 4,768 124,400 124,400 Annual lease payment from Vail Recreation District 2% annual increase - deposited to "Recreation Enhancement Account" (accompanying expenditure listed below) VRD repayment for promissory note 257,000 1,028,000 771,000 Loan was repaid in full in 2010 Intergovenmental Revenue 32,324 33,427 1,103 20,000 161,000 181,000 $161,000 GOCO Grant for Red Sandstone playground (matching expense below) Project Reimbursements 81,000 72,902 (8,098) - 40,000 40,000 Reimbursement of recycling haul -off by Eagle County Recreation Amenity Fees 10,000 39,181 29,181 10,000 10.000 Earnings on Investments and Other 46,402 123,381 76,979 15,879 15.879 2011 based on 1 Total Revenue 6,648,726 8,337,397 1,688,671 4,840,279 201,000 5,041,279 Maintain Town Assets Annual Park and Landscape Maintenance 1.333,114 1,199,059 134,055 1.317,340 1317,340 Ongoing path.. park and open space maintenance, project mgmt Management Fee to General Fund (5%) 304,150 315,231 (11,081) 233,500 233,500 5 of RETT Collections - fee remitted to the General Fund for administration Rec. Path Capital Maint 156,324 119,241 37,083 104,094 37,083 141,177 Re- appropriate for rec path work at Red Sandstone school / pedestrian overpass and Red Sandstone park Tree Maintenance 127,843 57,331 70,512 65,000 20,000 85,000 Regular maintenance for tree health within the town (spraying, removing, new trees); scale spraying on town -owned property at approx. $120 per tree Flood Incident Repairs 272,200 269,167 3,033 Forest Health Management 265,000 206,183 58,817 145,000 - 145,000 Pine beetle mitigation in conjunction w/ forest service; 2011 -2015; Reduced manager to part-time and reduced seasonal positions from 6 to 4 Street Furniture Replacement 22.500 22,472 28 22,500 22,500 Annual replacement or capital repairs, includes bike racks Park / Playground Capital Maintenance 115,000 94,609 20,391 90,000 21,891 111,891 Re- appropriate for Big Horn Park pond spill way; the additional $1500 reflects a payment from Hyder Construction to do landscape work at Four Seasons Bald Mountain Fig Rd / Underpass Project 200,000 5,100 194,900 200,000 194,900 394,900 1 Reconstruction of retaining wall that supports bike path through the underpass and widening for future bike path shoulders. Alpine Garden Support 65,620 55,620 10,000 55,620 10,000 65,620 Re-appropriate $10K to extend an off -cycle grant if BFAG raises $90K in donations (they have currently reached $73,000) Black Gore Creek Sand Mitigation 90,000 55,478 34,522 50,000 15,600 65,600 $15,600 for the Eagle River Watershed Council for additional water quality monitoring Public An - Operating 85,157 94,072 8,915 89,371 89,371 AIPP salary and operating expenses related to RETT $40,000 for recycling expense reimbursed by the County (see revenue above);Re- Environmental Sustainability 378,160 253,244 124,916 250,000 69,350 319,350 appropriate $20,000 for water quality improvement plan; $8,850 for Governor's Energy Office rebates; $500 for Vail Daily recycling ads Total Maintenance 3,415,068 2,746,807 668,261 2,622,425 368,824 2,991,249 Enhancement of Town Assets Timber Ridge - Buffehr Creek Rd separation 15,000 4,123 10,877 - - - To finish path from TimberRidge to Roost; offset by Federal Grant of approx. $150K 3/15/2011 -7- 6-1-7 TOWN OF VAIL 2011 BUDGET SUMMARY OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE REAL ESTATE TRANSFER TAX FUND Amended 2010 Variance 1st Amended 2010 Unaudited Fav /(Unfav) 2011 Supp 2011 Comments Stephen's Park Stream Repairs 66,000 63,241 2,759 - 2,759 2,759 Re- appropriate for streambank stabilization sign (requirement of the grant); Rebuilding of streamside area due to erosion; partially funded by federal grant Trailhead Development / Improvement - - - 24,000 - 24,000 Improve traitheads; Continued need through 2012 (one trail per year); Eliminated 2010 as of 9/15/09 ADA Compliance w/ VRD 25,000 533 24,467 10,000 - 10,000 Shared costs with VRD - ADA access at recreational facilities;new ADA regulations go into effect 2011 Greenhouse 5,000 1,576 3,424 4 miles of bike lanes (6 foot shoulders) to be added prior to CDOT overlay project; first Frontage Road Bike Lanes/Traits 119,268 29,610 89,658 2,275,000 89,658 2,364,658 priority is Blue Cow Chute to East Vail; path from Vail Mtn School to E. Vail exit; construction was budgeted in 2010; now pushed to 2011 and 2012. Re- appropriate for design Ford Park Master Plan 328,017 145,093 182,924 2,150,000 182,924 2,332,924 On -going work for project design related to the masterplan Ford Park Improvements 200,000 200,000 Ford Park pathwork, restrooms and other improvements Seibert Circle 17,774 16,459 1,315 Water supply infrastructure; Ong plan to include in water bills, but interest rate now 5 %, Raw Water/ Irrigation Control 366,493 - 366,493 - 366,493 366,493 so paying up front instead of financing; ERWSD working on bringing system up to consistent operation prior to bill being paid Kayak Take -out 10,000 10,000 10,000 10,000 Re- appropriate developer contribution to be used for whitewater improvements Stream Tract Encroachment Survey 14,081 14,081 14,081 14,081 1 Survey along Gore Creek Reconstruction of playground per safety plan; 20 years old; in -house design currently Red Sandstone Park - Per Safety plan 464,000 - 464,000 - 464,000 464,000 underway and staff working on a plan to deal with parking and ADA requirements. Recent acquisition of parking parcel - staff will present park options at future meeting Red Sandstone Playground LOCO Grant 161,000 161,000 Pass through GOCO grant proceeds to school district for Red Sandstone playground Booth Creek Playground - - 15,000 15.000 Design in 2011; deferred construction until 2012 Booth Creek Park redevelopment 50,000 50,000 Design in 2011; deferred construction until 2012 To purchase sculptures, artwork, art programs and events; remainder is re- appropriated Public Art - General program / art 221,816 24,040 197,776 80,000 205,997 285,997 each year to accumulate enough funds; Annual Manhole cover sales add funds each year ($8.2K for 2010 is added to the 2011 budget) Public Art - Morales relocation 164,728 44,036 120,692 95,000 120,692 215,692 Re- appropriate to continue relocation project Public Art - Winterfest 63,446 38,394 25,052 - 51,600 51,600 Recognize donations made in 2010 for Winterfest event; approximate cost of $25K per year Guest Service Enhancements - - 100,000 100,000 Planning and design only; implementation currently unfunded; Will present plan to Council for approval Frontage road medians alongside redevelopment projects; Re- appropriate to modify Landscape Medians 190,311 3,256 187 - 40,000 40,000 landscaping in front of the Sebastian to reduce water usage and ongoing maintenance Open Space Land Acquisition 350,250 350,261 11 Total Enhancements 2,421,184 720,622 1,700,562 4,999,000 1,709,204 6,708,204 VRD- Managed Facility Projects Recreation Enhancement Account 242,000 - 242,000 124,400 253,500 377,900 Carryforward balance: Reserve account for golf course improvements - funded by annual lease revenue Golf Course Inn ation 22,000 23,405 1,405 2010: to complete irrigation project 50% share with VRD 3/15/2011 g- 6-1-5 TOWN OF VAIL 2011 BUDGET SUMMARY OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE REAL ESTATE TRANSFER TAX FUND Amended 2010 Variance 1st Amended 2010 Unaudited Fav /(Unfav) 2011 Supp 2011 Comments Re- appropriate for clubhouse renovations; original 2010 budget had included Golf Course Clubhouse 562,450 23,349 539,101 753,187 539,101 1,292,288 clubhouse roof replacement. HVAC, boilers, stucco and trim work, and parking lot asphalt 2010: Improvements to golf course: 7th tee box retaining wail, 11th and 17th hole Golf Course - Other Improvements 575,100 200,799 374,301 - 374,301 374,301 bridges;improvements to maintenance building including stucco, wood trim and soffits; 2014 asphalt driving and parking area Re- appropriation includes $10,000 for electrical panel upgrade; $120K for louver Dobson Ice Arena 240,000 58,843 181,157 128,159 181,157 309,316 system upgrade; $25K for refurbishment of wood exterior; $26,157 for landscape plan Ford Park / Tennis Center Improvements 290,986 84,656 206,330 227,423 206,330 433,753 Re- appropriate to refurbish Ford Park tennis courts Youth Services 25,000 - 25,000 - 25,000 25,000 Re- appropriate to help fund transition expenses (FF &E, interior finishes, etc) with new Welcome Center project Gymnastics Center 25,000 25,000 25,000 25,000 Waiting on energy audit prior to installing cooling system Nature Center 10,000 4,471 5,529 5,529 5,529 I Re-appropriate for new wood siding and trim Total VRD- Managed Facility Projects 1,992,536 395,522 1,597,014 1,233,169 1,609,918 2,843,087 New Assets Public Restrooms 670,000 670,000 Restrooms at W. Meadow Drive & Vail Road; Pushed from'09 to'11 Total New Assets: 670,000 670,000 Total Expenditures 7,828,788 3,862,951 3,965,837 9,524,594 3,687,946 13,212,540 Revenue Over (Under) Expenditures (1,180,062) 4,474,446 5,654,508 1 (4,684,315) (3,486,946) (8,171,261) Beginning Fund Balance 13,188,947 13,188.947 12,008,885 5.654,508 17.663,393 Ending Fund Balance $ 12 $ 17 $ 7 $ 9,492 3/15/2011 - 6-1-9 TOWN OF VAIL 2011 BUDGET SUMMARY OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE DISPATCH SERVICES FUND 2011 2010 2010 Variance 2011 1st Proposed Amended Unaudited Fav /(Unfav) Budget Supplemental Amended Comments Revenue E911 Board Revenue $ 754,108 $ 750,440 $ (3,668) 743,656 743,656 Interagency Charges 1,162,231 1,158,151 (4,080) 1,214,925 1,214,925 Town of Vail Interagency Charge 522,213 522,213 - 537,827 537,827 Earnings on Investments 5,000 6,735 1,735 7,500 7,500 Federal Grant Other 3,000 15,741 12,741 - - Total Revenue 2,446,552 2,453,280 6,728 2,503,908 2,503,908 Expenditures Salaries & Benefits 1,854,062 1,702,929 151,133 1,849,958 1,849,958 Operating, Maintenance & Contracts 514,633 463,094 51,539 519,006 519,006 Capital Outlay 123,000 43,571 79,429 800,000 70,000 870,000 Continuation of voice - logger system Total Expenditures 2,491,695 2,209,594 282,101 3,168,964 70,000 3,238,964 Revenue Over (Under) Expenditures (45,143) 243,686 288,829 (665,056) (70,000) (735,056) Beginning Fund Balance 1,290,681 1,290,681 1,245,538 288,829 1,534,367 Ending Fund Balance $ 1,245,538 $ 1,534,367 $ 580,482 $ 799,311 3/15/2011 6- 1 - 10 0- TOWN OF VAIL 2011 BUDGET SUMMARY OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE HEAVY EQUIPMENT FUND 2011 2010 2010 Variance 2011 1st Proposed Amended Un aud i ted F /( Budget Supplemental Amended Co Revenue Town of Vail Interagency Charge $ 2,836,464 $ 2,789,389 $ (47,075) $ 3,243,653 $ 3,243,653 Insurance Reimbursements & Other - 46,371 46,371 - - Earnings on Investments 10,298 10,159 (139) 10,172 10,172 Equipment Sales and Trade -ins 168,240 121,734 (46,506) 233,580 233,580 Total Revenue 3,015,002 2,967,653 (47,349) 3,487,405 3,487,405 Expenditures Salaries & Benefits 965,912 946,203 19,709 986,368 986,368 Operating, Maintenance & Contracts 1,244,911 1,171,032 73,879 1,282,258 1,282,258 Three vehicles ordered in 2010, but will not Capital Outlay 1,082,928 941,615 141,313 980,100 140,416 1,120,516 take delivery until 2011; Need to re- appropriate 2010 funds into 2011 Total Expenditures 3,293,751 3,058,850 234,901 3,248,726 140,416 3,389,142 Revenue Over (Under) Expenditures (278,749) (91,197) 187,552 238,679 (140,416) 98,263 Beginning Fund Balance 2,343,601 2,343,601 2,064,852 187,552 2,252,404 Ending Fund Balance $ 2,064,852 $ 2,252,404 $ 2,303,531 $ 2,350,667 3/15/2011 -11- 6-1-11 ORDINANCE NO. 6 SERIES OF 2011 AN ORDINANCE MAKING BUDGET ADJUSTMENTS TO THE TOWN OF VAIL GENERAL FUND, CAPITAL PROJECTS FUND, REAL ESTATE TRANSFER TAX FUND, DISPATCH SERVICES FUND, AND HEAVY EQUIPMENT FUND OF THE 2011 BUDGET FOR THE TOWN OF VAIL, COLORADO; AND AUTHORIZING THE SAID ADJUSTMENTS AS SET FORTH HEREIN; AND SETTING FORTH DETAILS IN REGARD THERETO. WHEREAS, contingencies have arisen during the fiscal year 2011 which could not have been reasonably foreseen or anticipated by the Town Council at the time it enacted Ordinance No. 17, Series of 2010, adopting the 2011 Budget and Financial Plan for the Town of Vail, Colorado; and, WHEREAS, the Town Manager has certified to the Town Council that sufficient funds are available to discharge the appropriations referred to herein, not otherwise reflected in the Budget, in accordance with Section 9.10(a) of the Charter of the Town of Vail; and, WHEREAS, in order to accomplish the foregoing, the Town Council finds that it should make certain budget adjustments as set forth herein. NOW, THEREFORE, BE IT ORDAINED, BY THE TOWN COUNCIL OF THE TOWN OF VAIL, COLORADO that: 1. Pursuant to Section 9.10(a) of the Charter of the Town of Vail, Colorado, the Town Council hereby makes the following budget adjustments for the 2011 Budget and Financial Plan for the Town of Vail, Colorado, and authorizes the following budget adjustments: General Fund $ 379,821 Capital Projects Fund 9,705,221 Real Estate Transfer Tax Fund 3,687,946 Dispatch Services Fund 70,000 Heavy Equipment Fund 140,416 Total $13,983,404 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 affect 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. Ordinance No. 4, Series of 2010 3/15/2011 6 -1 -12 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 of Vail and the inhabitants thereof. 4. The repeal or the repeal and reenactment of any provision of the Municipal Code of the Town of Vail 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 proceedings as commenced under or by virtue of the provision repealed or repealed and reenacted. The repeal of any provision hereby shall not revive any provision or any ordinance previously repealed or superseded unless expressly stated herein. 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, APPROVED, AND ORDERED PUBLISHED ONCE IN FULL ON FIRST READING this 1 st day of March, 2011, and a public hearing shall be held on this Ordinance on the 15th day of March, 2011, at the regular meeting of the Town Council of the Town of Vail, Colorado, in the Municipal Building of the town. Dick Cleveland, Mayor ATTEST: Lorelei Donaldson, Town Clerk READ AND APPROVED ON SECOND READING AND ORDERED PUBLISHED IN FULL this 15th day of March 2011. Dick Cleveland, Mayor ATTEST: Lorelei Donaldson, Town Clerk Ordinance No. 4, Series of 2010 3/15/2011 6 -1 -13 ITL1 Oil VAIL TOWN COUNCIL AGENDA MEMO MEETING DATE: March 15, 2011 ITEM /TOPIC: Presentation of the 2010 year -end investment report. PRESENTER(S): Kathleen Halloran ACTION REQUESTED OF COUNCIL: No action requested. BACKGROUND: Section 2 -2 -8 of the Town Code requires an annual presentation of the town's investment report, which is also provided as a written report for each quarter. This agenda item is a presentation of the town's investment report as of December 31, 2010. ATTACHMENTS: Inv Rpt 3/15/2011 TOWN OF VAIL MEMORANDUM TO: Stan Zemler Council Members FROM: Kathleen Halloran DATE: 4th Qtr 2010 RE: Investment Report Enclosed is the investment report with balances as of December 31, 2010. The estimated average yield for the pooled cash fund is 0.415 %. As of 12/31/10, the Treasury yield curves for 3 months, 6 months, and 1 year are 0.12 %, 0.19 %, and 0.29% respectively. TOV investments performed above these yields. Our investment mix follows the policy objectives of safety, liquidity, and yield in that order. 2010 Investment Mix Gov't Cash $4.2M, Securities 6% $8.7M, 13 /o CD's $7.1 M, 10% Colorado__ Investment Pool $47.9M, 70% Other than transfer of funds for operating uses, the Town did not change banking institutions or investment products during the 4th quarter of 2010. Please call me if you have any questions. 3/15/2011 7 -1 -I Town of Vail, Colorado Investment Report Summary of Accounts and Investments As of 12/31 /10 2010 Balances Percentage Cash of Total Commercial Banks $4,100,320 6.03% Brokerage Cash Account $0 0.00% Money Market Funds $93,399 0.14% Total Cash $4,193,719 6.17% U.S. Government Securities (see page 4) Government Agency Seurities -Piper Jaffray $6,586,242 9.69% FNMA'S, GNMA'S, FHLMC'S & SBA'S - Dana $2,191,494 3.22% Total Government Securities $8,777,736 12.91% Certificates of Deposit $7,112,200 10.46% Colorado Investment Pools $47,890,215 70.45% Total Portfolio $67,973,870 100.0% Maturing Within 12 Months $61,387,628 90.31% Maturing Within 24 Months $501,585 0.74% Maturing After 24 Months $6,084,657 8.95% $67,973,870 100.0% Investments 12312010 2 3/15/2011 7 -1 -2 Performance Summary as of 12/31/10 Institution Average Balances Type of Accounts Return 12/31/10 "CASH" ACCOUNTS Commercial Bank Accounts: First Bank of Vail - Operating Interest 0.600% $4,100,320 Brokerage Cash Account: 0.000% 0.00 Money Market Accounts: Schwab Institutional Money Market Fund - Dana Investments Interest and Balance 0.010% $52,101 Vail Super Now Public Funds Account - Piper Jaff ray Interest and Balance 0.000% $41,299 Total Money Market Funds $93,399 Total "Cash" Accounts $4,193,719 GOVERNMENT SECURITIES (see pg 5) Government Agency Seurities -Piper Jaffray 1.56% $ 6,586,242 FNMA'S, GNMA'S, FHLMC'S & SBA'S - Dana 2.24% $ 2,191,494 $ 8,777,736 Total Government Securities $ 8,777,736 1 st Bank, Vail Colorado ( #8972) Matures Mar 26, 2012 1.390% 1,010,874 1st Bank, Vail Colorado ( #1992) Matures Nov 23, 2015 2.000% 1,014,653 Alpine Bank, Vail Colorado ( #35144) Matures Mar 28, 2013 1.440% 1,010,905 Alpine Bank, Vail Colorado ( #26963) Matures Sept 15, 2011 2.600% 646,048 Alpine Bank, Vail Colorado ( #03054) Matures Sept 22, 2011 2.600% 1,033,168 Alpine Bank, Vail Colorado ( #15894) Matures Oct 10, 2013 4.400% 639,705 Alpine Bank, Vail Colorado ( #78222) Matures Nov 15, 2012 3.440% 1,039,203 Alpine Bank, Vail Colorado ( #15169) Matures Oct 10, 2013 4.100% 717,643 7,112,200 Total Certificates of Deposit $ 7,112,200 LOCAL GOVERNMENT INVESTMENT POOLS Colotrust General Fund Interest 0.100% $47,890,215 Total Local Government Investment Pools Accounts $47,890,215 Total All Accounts $67,973,870 Investments 12312010 3 3/15/2011 7 -1 -3 Government Securities as of 12/31/10 Days /Years Int Rate Purchase Maturity to Maturity Market Agency Broker Coupon Yield Date Date at Purchase Value ** *Federal Agency Discount Notes & Bonds * ** FNMA 3136FHCY9 Piper Jaff ray 2.250% 2.240% 5/26/2010 3/18/2014 3.8 $501,885 FHLB 3133XYWX9 Piper Jaff ray 1.000% 1.250% 7/12/2010 6/30/2014 4.0 $100,335 FHLMC 3128X91721 Piper Jaff ray 1.000% 1.000% 3/25/2010 3/15/2013 3.0 $525,536 FHLB 3133XY6D2 Piper Jaff ray 1.050% 1.050% 4/27/2010 4/29/2013 3.0 $350,508 FHLB 3139YJU7 Piper Jaff ray 5.000% 4.540% 7/12/2010 7/23/2013 3.0 $110,090 FNMA 3136FJ6Z9 Piper Jaff ray 3.000% 2.990% 2/17/2010 2/23/2011 1.0 $501,585 FNMA 31398AZW5 Piper Jaff ray 3.250% 3.240% 5/12/2010 11/17/2014 4.5 $0 FHLB 3136FM2P8 Piper Jaff ray 1.500% 1.500% 7/15/2010 7/28/2015 5.0 $400,436 FHLB 313370K64 Piper Jaff ray 1.000% 1.010% 8/5/2010 8/24/2015 5.1 $397,984 FNMA 3136FPCE5 Piper Jaff ray 1.750% 1.780% 8/23/2010 8/25/2015 5.0 $491,160 FHLB 313370533 Piper Jaff ray 1.000% 1.010% 8/23/2010 9/9/2015 5.0 $397,168 FNMA 3136FPEG8 Piper Jaff ray 1.375% 1.390% 8/23/2010 9/15/2015 5.1 $394,268 FNMA 3136FPFE2 Piper Jaff ray 1.000% 1.010% 9/14/2010 9/17/2015 5.0 $317,392 FHLB 31337161-14 Piper Jaff ray 1.250% 1.290% 10/20/2010 10/20/2015 5.0 $533,665 FHLB 313371 BD7 Piper Jaff ray 1.000% 1.030% 10/28/2010 10/28/2015 5.0 $585,336 FNMA 3136FPQEO Piper Jaff ray 1.000% 1.000% 10/29/2010 10/29/2015 5.0 $497,845 FHLB 313371 RQ1 Piper Jaff ray 1.500% 1.560% 11/30/2010 11/30/2015 5.0 $481,050 FHLB 3133XW3P2 Piper Jaff ray 1.000% 1.000% 12/9/2009 12/30/2015 6.1 $0 Average Yield 1.56% $6,586,242 Days /Years Interest Rate Purchase Maturity to Maturity Market Agency Broker Coupon Yield Date Date at Purchase Value * * *FNMA'S, ARM'S & SBA'S * ** SBA 500463V -0 Pooled - Dana 7.625% 3.1% 1- Aug -88 25- Jan -13 24.5 $1,201 SBA 502647V -Q Pooled - Dana 8.475% 3.9% 1- Jul -94 25- Jun -19 25.0 $8,377 SBA 505536V -M Pooled - Dana 7.875% 2.9% 1- Aug -01 25- Jun -26 24.9 $24,485 GNMA 8417 Pooled - Dana 5.125% 3.9% 1- Oct -88 20- Oct -18 30.1 $3,136 GNMA 8703 Pooled - Dana 4.750% 2.6% 1- Sep -95 20- Sep -25 30.1 $1,038 GNMA 8720 Pooled - Dana 5.125% 3.0% 30- Sep -95 20- Oct -25 30.1 $1,095 GNMA 8788 Pooled - Dana 5.375% 3.3% 1- Jan -96 20- Jan -26 30.1 $843 GNMA 80426 Pooled - Dana 4.500% 2.6% 21- Jul -00 20- Jul -30 30.0 $8,697 GNMA 80593 Pooled - Dana 5.375% 3.3% 1- Apr -02 20- Apr -32 30.1 $4,691 GNMA 80710 Pooled - Dana 5.625% 2.6% 1- Jul -03 20- Jul -33 30.1 $8,738 FNMA 462382 Pooled - Dana 6.141% 5.7% 1- Sep -07 1- Oct -16 9.1 $48,232 FNMA 555921 Pooled - Dana 4.483% 3.3% 1- Oct -03 1- Sep -35 31.9 $41,482 FNMA 850125 Pooled - Dana 5.146% 2.6% 1- May -09 1- Sep -35 26.4 $64,025 FNMA 422251 Pooled - Dana 5.589% 2.4% 1- Dec -95 1- Jan -21 25.1 $38,371 FNMA 334439 Pooled - Dana 6.200% 3.9% 1- Dec -95 1- Apr -24 28.4 $5,356 FNMA 520790 Pooled - Dana 6.077% 3.8% 1- Jun -00 1- Apr -28 27.9 $6,566 FNMA 546468 Pooled - Dana 5.563% 2.5% 24- May -00 1- Jun -28 28.0 $3,957 FNMA 535326 Pooled - Dana 5.263% 2.4% 26- Jun -00 1- Jun -28 28.0 $4,708 FNMA 323798 Pooled - Dana 5.749% 2.5% 1- Dec -99 1- May -29 29.4 $1,977 FNMA 576517 Pooled - Dana 6.165% 2.4% 1- Mar -01 1- Feb -30 28.9 $977 FNMA 567875 Pooled - Dana 6.336% 4.1% 1- Dec -00 1- Sep -30 29.8 $3,532 FNMA 593941 Pooled - Dana 6.010% 3.8% 1- Dec -01 1- Dec -30 29.0 $17,561 FNMA 545057 Pooled - Dana 5.487% 2.4% 1- May -01 1- May -31 30.0 $900 FNMA 650970 Pooled - Dana 5.118% 2.6% 1- Aug -01 1- Jul -32 30.9 $3,114 FNMA 555378 Pooled - Dana 5.120% 2.4% 14- May -08 1- Apr -33 24.9 $77,218 FNMA 709092 Pooled - Dana 5.085% 2.5% 1- Jun -03 1- Jun -33 30.0 $13,128 FNMA 723661 Pooled - Dana 5.025% 2.5% 1- Jul -03 1- Jul -33 30.0 $2,834 FNMA 761737 Pooled - Dana 6.488% 2.5% 16- May -05 1- Dec -33 28.6 $12,042 FNMA 725462 Pooled - Dana 5.688 %3/15/201 ?.3% 1- Apr -04 1- Jan -34 29.8 $12,033 Investments 12312010 7-1-44 Government Securities as of 12/31/10 Days /Years Int Rate Purchase Maturity to Maturity Market Agency Broker Coupon Yield Date Date at Purchase Value FNMA 745160 Pooled - Dana 5.763% 2.5% 1- Dec -05 1- Mar -34 28.3 $27,384 FNMA 791573 Pooled - Dana 5.057% 2.5% 1- Jul -04 1- Aug -34 30.1 $5,517 FNMA 888321 Pooled - Dana 5.737% 2.5% 1- Mar -07 1- Aug -34 27.3 $52,117 FNMA 849207 Pooled - Dana 6.340% 2.3% 1- Jan -06 1- Jan -36 30.0 $18,076 FNMA 888710 Pooled - Dana 5.374% 2.5% 1- Sep -07 1- Jul -36 28.9 $48,057 FNMA 893933 Pooled - Dana 5.209% 2.6% 1- Sep -06 1- Oct -36 30.1 $26,605 FNMA 555624 Pooled - Dana 5.366% 2.5% 1- Jun -03 1- Mar -38 34.8 $7,105 FNMA 735967 Pooled - Dana 6.107% 2.4% 1- Sep -05 1- Mar -38 32.5 $12,192 FNMA 888386 Pooled - Dana 5.623% 2.5% 1- Apr -07 1- Mar -38 30.9 $88,067 FNMA 888618 Pooled - Dana 5.799% 2.5% 1- Jul -07 1- Mar -38 30.7 $28,884 FNMA 995451 Pooled - Dana 4.581% 2.9% 12- Feb -09 1- May -38 29.2 $87,868 FNMA 557073 Pooled - Dana 4.255% 1.7% 1- Sep -00 1- Jun -40 39.8 $6,288 FNMA 110540 Pooled - Dana 5.150% 4.5% 1- Nov -90 1- May -20 29.5 $7,070 FNMA 327446 Pooled - Dana 5.747% 3.2% 1- Oct -95 1- Aug -22 26.9 $4,048 FNMA 868877 Pooled - Dana 5.191% 2.6% 1- Apr -06 1- Apr -36 30.0 $17,790 FNMA 701045 Pooled - Dana 4.830% 2.5% 1- Apr -03 1- Apr -33 30.0 $87,138 FNMA 848390 Pooled - Dana 3.755% 2.2% 12- Feb -09 1- Dec -35 26.8 $47,795 FNMA 844148 Pooled - Dana 3.183% 2.3% 1- Oct -05 1- Nov -35 30.1 $46,632 FNMA 748087 Pooled - Dana 2.585% 2.5% 1- Sep -10 1- Sep -33 23.0 $78,890 FHLMC 775572 Pooled - Dana 5.594% 3.8% 1- Sep -94 1- Jun -24 29.8 $9,511 FHLMC 865469 Pooled - Dana 6.440% 4.9% 1- Dec -95 1- Aug -25 29.7 $1,011 FHLMC 755344 Pooled - Dana 5.160% 2.4% 1- May -00 1- Mar -28 27.9 $3,624 FHLMC 645235 Pooled - Dana 6.340% 4.3% 1- Jul -00 1- Mar -29 28.7 $2,545 FHLMC 846784 Pooled - Dana 5.576% 2.4% 1- Jul -00 1- May -29 28.9 $2,616 FHLMC 786867 Pooled - Dana 5.970% 2.4% 1- Nov -99 1- Aug -29 29.8 $274 FHLMC 846956 Pooled - Dana 6.446% 2.6% 1- Nov -01 1- Nov -31 30.0 $2,105 FHLMC 847166 Pooled - Dana 5.092% 2.5% 1- Jul -03 1- Aug -33 30.1 $6,453 FHLMC 847359 Pooled - Dana 6.072% 2.5% 1- Dec -04 1- Dec -34 30.0 $6,086 FHLMC 782526 Pooled - Dana 4.509% 2.4% 1- Apr -05 1- Apr -35 30.0 $107,890 FHLMC 848000 Pooled - Dana 4.665% 3.1% 1- Sep -08 1- Feb -36 27.4 $85,440 FHLMC 847629 Pooled - Dana 6.092% 2.5% 1- Oct -06 1- Sep -36 29.9 $29,192 FHLMC 865006 Pooled - Dana 6.935% 4.7% 1- Feb -89 1- Aug -18 29.5 $1,033 FHLMC 865127 Pooled - Dana 5.449% 4.4% 1- Aug -89 1- Mar -19 29.6 $2,066 FHLMC 865476 Pooled - Dana 6.082% 6.4% 1- Apr -96 1- Feb -36 39.9 $542 FHLMC 865663 Pooled - Dana 6.040% 6.0% 1- Nov -00 1- Feb -30 29.3 $3,213 FHLMC 765114 Pooled - Dana 6.963% 6.9% 1- Mar -99 1- Jan -18 18.9 $3,627 FHLMC 847427 Pooled - Dana 5.264% 2.7% 1- Jul -05 1- Sep -34 29.2 $8,611 FHLMC 1 G1 840 Pooled - Dana 5.315% 2.6% 1- Feb -06 1- Nov -35 29.8 $37,111 FHLMC 1 B3063 Pooled - Dana 5.553% 2.9% 1- Aug -06 1- Aug -36 30.0 $62,900 FHLMC 847058 Pooled - Dana 5.181% 2.6% 1- Aug -02 1- Aug -32 30.0 $31,523 FHLMC 611384 Pooled - Dana 6.953% 2.4% 11- Feb -05 1- Dec -32 27.8 $10,499 TSY 9128276R8 3.500% 2.8% 15- Jan -11 111.1 $100,504 TSY 9128277,15 3.375% 2.6% 15- Jan -12 112.1 $193,038 TSY 912828GN4 2.000% 1.8% 15- Apr -12 112.4 $100,457 TSY 912828AF7 3.000% 2.3% 15- Jul -12 112.6 $245,367 Accrued Interest 2.240% $12,676 Income Receivable $3,740 Average Yield 2.24% 2,191,494 Total $8,777,736 3/15/2011 Investments 12312010 7 _ 1 _ 55 ITL1 Oil VAIL TOWN COUNCIL AGENDA MEMO MEETING DATE: March 15, 2011 ITEM /TOPIC: November 2011 Election Discussion: At the Polls or Mail Ballot election PRESENTER(S): Pam Brandmeyer ACTION REQUESTED OF COUNCIL: The Town Council needs to make a decision on whether to hold an At- the -Polls election or a Mail Ballot election for the November 8, 2011 regular election of the Town of Vail. BACKGROUND: The town's charter states, "Section 2.3 - Municipal Elections: A regular municipal election shall be held on the first Tuesday following the first Monday in November ". Due to this provision of the charter, the town does not have an option to have a coordinated election with Eagle County, as the date of the State and County election will be held on the first Tuesday in November, which is November 1, 2011. Other options are: 1)have an at- the -polls election; or 2) have a mail ballot election. 3/15/2011 ITL1 Oil VAIL TOWN COUNCIL AGENDA MEMO MEETING DATE: March 15, 2011 ITEM /TOPIC: Town of Vail Real Estate Transfer Tax Exemption Appeal for the property known as 600 Vail Drive A -5 and Parking Unit AP -25 Northwoods Condominiums, Vail, CO. 81657. PRESENTER(S): Matt Mire ACTION REQUESTED OF COUNCIL: Uphold or reverse the Town Manager's denial of the Real Estate Transfer Tax Exemption Application. BACKGROUND: Appeal of the Town Manager's denial of the real estate transfer tax ( "RETT ") exemption application filed by Bonnie Hughey ( "Appellant ") concerning property located in the Northwoods Condominiums (the "Property "). On November 18, 2010, Appellant, as Vice President of Pacific Condor and as Manager of Parpolcondor filed an application for a RETT exemption for the September 29, 2010 transfer of the Property (the "Transfer "). The basis for the exemption request is that the Transfer was made to an organization that is owned by the same party that owns the grantor organization and that no funds were exchanged, other than a promissory note by the same party that owns both the grantor and grantee organizations. On December 2, 2010, the Town Manager denied the Appellant's exemption application. Appellant has appealed the Town Manager's denial on the grounds that the Transfer was made to an organization which is owned by persons having the same interest in the seller, and that no actual consideration was paid in the Transfer. To qualify for a RETT exemption, Appellant must prove that: (1) the Property owners must have the same relative interest in Parpolcondor as they had in the Property before the Transfer; and (2) there is no consideration paid in the Transfer. ATTACHMENTS: RETT Appeal 600 Vail Drive #A5 Town Code 2 -6 -5 List of Exemptions Appellants Supporting Documents 3/15/2011 , ti • i TOWN OF VAIL REAL ESTATE TRANSFER TAX EXEMPTION APPLICATION Grantor (Seller): Pacific Condor, Inc. Grantee (Buyer): Parpolcondor Properties, LLC Date of Closing: September 29, 2010 (All appropriate documents pertaining to this request must be submitted with this request.) Legal description: CONDOMINIUM UNIT A -5, and PARKING UNIT AP -25, BUILDING A, NORTHWOODS CONDOMINIUMS, according to the Condominium Map thereof recorded December 23, 1975 in the records of the Clerk and Recorder of Eagle County, Colorado, in Book 243, at Page 811, of such records and as defined in the Condominium Declaration recorded December 23, 1975 in Book 243 at Page 810, of such records; subject to the terms, conditions and provisions in said Declaration. Address of property: 600 Vail Drive #A5, Vail, CO The undersigned, as grantor /grantee of a deed or instrument of conveyance dated 09/29/2010 hereby applies for exemption from the payment of the Land Transfer Tax, imposed by Title 2, Chapter 6 of the Vail Municipal Code, of the Town of Vail. The basis for such exemption is as follows: Transfer was made to a limited liability company which is owned by the party which owns the grantor corporation and the owner has the same relative interest in the grantee as it does in the grantor and therefore in the real property immediately prior to such transfer and there were no funds involved -just a promissory note against the capital ownership by the same parry which owns both the grantor and grantee. I hereby certify under penalty of perjury that the foregoing statemen are true and correct NN.-- - 4 - 1 ' � �' ", - i Gra or /Grantejd Date Bonnie J. Hug ey, Vice Presid4M of Pacific Condor, Inc. (Grantor) and Manager of Parpolcondor Properties, LLC (Grantee) PLEASE PRINT Name: Bonnie J. Hughey * *See below Address: 1421 Monroe Street, Hollywood, FL 33020 Phone: (954) 920 -3242 EXEMPTION The above requested exemption is: Granted _ Denied Town Manager Qkal i I u, Date Please fill out and return to: Town of Vail, 75 S. Frontage Road, Vail, CO 81657 along with a self- addressed, stamped envelope. ** Original executed copy of this application will be sent back to applicant (at address noted above) upon approval/denial of application. If others are to receive a response, please provide the appropriate self- addressed, stamped envelopes for return. a 1 3/15/2011 ! s 9 -1 -1 r ~ - EAGLE COUNTY, CO 201020154 TEAK J SIMONTON Pgs: 2 12:57:00PM 10/07/2010 JJ • . REC: $16.00 DOC: $120.00 v THIS INSTRUMENT PREPARED BY AND RETURN TO: Daniel J. Newman, Esquire P.O. Box 129 Tarpon Springs, Florida 34688 -0129 QUIT -CLAIM DEED )a� THIS DEED made on , 2010, by Pacific Condor, Inc., a California corporation, of 1421 Monroe Street, Hollywood, Florida 33020, Grantor, for a valuable consideration, receipt of which is hereby acknowledged, hereby remises, releases and forever quit - claims to Parpolcondor Properties, LLC, a Florida limited liability company, of 1421 Monroe Street, Hollywood, Florida 33020 Grantee, all of that real property located in Eagle County, Florida and more fully described as follows: CONDOMINIUM UNIT A -5, and PARKING UNIT AP -25, BUILDING A, NORTHWOODS CONDOMINIUMS, according to the Condominium Map thereof recorded December 23, 1975 in the records of the Clerk and Recorder of Eagle County, Colorado, in Book 243, at Page 811, of such records and as defined in the Condominium Declaration recorded December 23, 1975 in Book 243 at Page 810, of such records; subject to the terms, conditions and provisions contained in said Declaration. Parcel ID Number: 2101 - 081 -11 -005 Street address of the Property: 600 Vail Drive #A5, Vail, Colorado. THIS IS NOT THE HOMESTEAD PROPERTY OF THE GRANTOR. IN WITNESS WHEREOF, Grantor has caused this instrument to be signed on the day first above written. Paci£c Condor, 11W.. Gralitor By: + n i J. H ey i Vic r i ent s Signature of Witne s to Signa ure of Witness to Bonnie J. Hughey Bonni J. Hug e / r— % A13- P_ Ct v' Gl r Print ype Name of Witness Print or Type Name of Witness 3/15/2011 9 -1 -2 . M State Of Florida County Of Phn44eTccFi The reg ing instrument was acknowledged before me this 2-5� day of 2010 by Bonnie J. Hughey, Vice President of Pacific Condor, Inc., a California corporatpil, on behalf of the corporation. She is personally known to me or has produced N (type of identification) as identification. NOTA PliB STATE OF 0 NO TARY PUBLIC -STATE OF FLORIDA xo Print Type or Stamp David E. Reiser � yP P Commissioned Commission #DD995616 of Notary Public Expires: NNE 05, 2014 -BONDED THRU ATLA,MC BONDING CO-.INC- Send subsequent tax bills to: Parpolcondor Properties, LLC 1421 Monroe Street Hollywood, FL 33020 E k 3/15/2011 9 -1 -3 a " EAGLE COUNTY, CO 201020155 TEAK J SIMONTON Pga. 4 12= 57 :01PM 10/ / 0�/ J 2010 REC: $26.00 DOC: $ THIS INSTRUMENT PREPARED BY AND RETURN TO: Daniel J. Newman, Esquire P.O. Box 129 Tarpon Springs, Florida 34688 -0129 PURCHASE MONEY MORTGAGE THIS PURCHASE MONEY MORTGAGE is executed on ,2010 by Parpolcondor Properties, LLC, a Florida limited liability company, of 1421 Monroe Street, Hollywood, Florida 33020 ( "Mortgagor") who in consideration of the principal sum specified in the promissory demand note hereafter described received from Pacific Condor, Inc., a California corporation, of 1421 Monroe Street, Hollywood, Florida 33020 ( "Mortgagee "), does hereby mortgage to Mortgagee the real property located in Eagle County, Colorado, more fully described as follows: CONDOMINIUM UNIT A -5, and PARKING UNIT AP -25, BUILDING A, NORTHWOODS CONDOMINIUMS, according to the Condominium Map thereof recorded December 23; 1975 in the records of the Clerk and Recorder of Eagle County, Colorado, in Book 243, at Page 811, of such records and as defined in the Condominium Declaration recorded December 23, 1975 in Book 243 at Page 810, of such records; subject to the terms, conditions and provisions contained in said Declaration. Parcel ID Number: 2101 - 081 -11 -005 as security for the payment of the purchase money promissory demand note attached as Exhibit A (the "note "), given as part of the purchase price for the real property and agrees: 1. To make all payments required by the note and this mortgage promptly when due. 2. To pay all taxes, assessments, liens, and encumbrances on that property promptly when due. If they are not promptly paid, Mortgagee may pay them without waiving the option to foreclose, and those payments, with interest thereon from the date of payment at the same rate as specified in the note, also shall be secured by this mortgage. 3. To keep all buildings now or hereafter on that land insured against damage by fire, lightning windstorm in the sum secured by this mortgage, by an insurer satisfactory to Mortgagee, the insurance policy to be held by and payable to Mortgagee. If Mortgagor does not do this, Mortgagee may do so without waiving the option to foreclose, and the cost of the insurance, with interest from the date of payment at the same rate as specified in the note, shall also be secured by this mortgage. If any sum is paid under a claim on such a policy, Mortgagee may apply it to the 3/15/2011 9 -1 -4 indebtedness secured by this mortgage, or may permit Mortgagor to use it for other purposes, without impairing the lien of this mortgage. 4. To commit, permit, or allow no waste, impairment, or deterioration of the mortgaged property. 5. To pay all expenses reasonably incurred by Mortgagee because of failure of Mortgagor to comply with the agreements in the note or this mortgage, including reasonable attorneys' fees. The cost of this, with interest from the date of payment at the same rate as specified in the note, shall also be secured by this mortgage. 6. If any payment provided for in the note is not paid within 30 days after it becomes due, or if any agreement in this mortgage other than the agreement to make the payments is breached, the entire unpaid principal balance of the note shall immediately become due at the option of Mortgagee, and Mortgagee may foreclose this mortgage in the manner provided by law and have the mortgaged property sold to satisfy or apply to the indebtedness hereby secured. 7. The rents and profits of the mortgaged property are also mortgaged hereby, and, if proceedings to foreclose this mortgage are instituted, the court having jurisdiction should appoint a receiver of the mortgaged property and apply those rents and profits to the indebtedness hereby secured, regardless of the solvency of Mortgagor or the adequacy of the security. IN WITNESS WHEREOF, Mortgagor has caused this instrument to be signed on the day first above written. Parpolcondor Properties , MV]Lprtgagor B ie J ughe as it ana Signature of Witness to Signature of Witness to Bonnie J. Hughey Bonnie J. Hu heey D--a Print or Type Name of Witness Print or Type Name of Witness 3/15/2011 9 -1 -5 State Of Florida County Of PaImJ3 ch The for in instrument was acknowledged before me this �� day of 2010 by Bonnie J. Hughey, Manager of Parpolcondor Properties LLC, a Flo- a limited liability company eh f of Parpolcondor Properties, LLC. She is personally known to me or has produced (type of identification) as identification. NOTAR UBL , STATE OF !' f h. L• s$ Coamissicn #DD995616 Print, Type or Stamp Commissioned �`.' eExpirs: JUNE 05, 2014 aGxnsn r ExPir s: JUNE 0 Ca,nt4 of Notary Public poTnxY tavid E O Reiserr ,sicn #DD995616 tp� es: JUNE 05, 20U OND ,Z'HRU 1Tf.hh�CRONDB'(G CO., - gID l i i 3/15/2011 9 -1 -6 PURCHASE MONEY DEMAND NOTE Date: On demand, the undersigned, for value received, promises to pay to the Order of Pacific F Condor, Inc., a California corporation, the sum of One Million Two Hundred Thousand Dollars and F no cents ($1,200,000.00) together with interest thereon from the date hereof until paid at the rate of 5.0% per annum. In the event this Note is not paid when due, the undersigned shall pay all attorney's fees and reasonable costs of collection. NOTICE TO BORROWER: This is a demand note and so may be collected by the lender at any time. 4. f a Parpolcondor Properties, LLC, a Florida Limited Liability Company 3 B1. BONNIE J. HUGHEY Its Manager i This note is subject to a purchase money mortgage on that certain property located in Eagle County, Vail, California, described as Unit A -5 and Parking Unit AP -25, Building A, Northwoods Condominiums xh'ib1+ 3/15/2011 9 -1 -7 PURCHASE MONEY DEMAND NOTE Date: A / wlo On demand, the undersigned, for value received, promises to pay to the Order of Pacific Condor, Inc., a California corporation, the sum of One Million Two Hundred Thousand Dollars and no cents ($1,200,000.00) together with interest thereon from the date hereof until paid at the rate of 5.0% per annum. In the event this Note is not paid when due, the undersigned shall pay all attorney's fees and reasonable costs of collection. NOTICE TO BORROWER: This is a demand note and so may be collected by the lender at any time. Parpolcondor Properties, LLC, a Florida Limited Liability Company k A BY. BONNIE J. I EY Its Manager t This note is subject to a purchase money mortgage on that certain property located in Eagle County, Vail, California, described as Unit A -5 and Parking Unit AP -25, Building A, Northwoods Condominiums t 3/15/2011 9 -1 -8 R HAYES, PHILLIPS, HOFFMANN & CARBERRY, P.C. 1530 Sixteenth Street, Suite 200 Denver, Colorado 80202 -1468 Telephone: (303) 825 -6444 Facsimile: (303) 825 -1269 Corey Y. Hoffmann Fairplay Office Elizabeth C. Gross Kendra L. Carberry 675 Main Street Christine C. Stretesky Jefferson H. Parker P.O. Box 1046 Cristina DiMaria Fairplay, CO 80440 Of Counsel Telephone: (719) 836 -9005 John E. Hayes Facsimile: (719) 836 -9010 Herbert C. Phillips January 6, 2011 Bonnie . ughey 142 onroe Street lywood, FL 33020 Re: Appeal of Denial of Exemption from Town of Vail Real Estate Transfer Tax Dear Ms. Hughey: Our firm acts as special counsel to the Town of Vail, Colorado (the "Town "). The Town received your appeal on behalf of Pacific Condor, Inc. and Parpolcondor Properties, LLC dated January 3, 2011. The appeal is of the Town Manager's denial of the application for exemption from the Town's real estate transfer tax ( "RETT ") for the September 29, 2010 transfer of the following property: CONDOMINIUM UNIT A -5 and PARKING UNIT AP -25, BUILDING A, NORTHWOODS CONDOMINIUMS, street address 600 Vail Drive #A5, Vail, CO. Please be advised that the hearing on your RETT appeal is scheduled before the Town Council on January 18, 2011, at 6:00 p.m. or as soon thereafter as the matter may be heard, at the Town Council Chambers, 75 South Frontage Road, Vail, Colorado 81657. Very truly yours, i endra L. Carberry Encl. c: J. Matthew Mire, Town Attorney 1/6/11 3/15/2011 O: I USERSI VAILIKLCIHUGHEY -RETT APPEAL- LOI.DOC 9 -1 -9 ti January 11, 2011 Via US Mail and Facsimile(a) 303 - 825 -1269 Kendra L. Carberry Hayes, Phillips, Hoffmann & Carberry, PC 1530 Sixteenth Street Suite 200 Denver, Colorado 80202 -1468 Re: Appeal of Denial of Exemption from Town of Vail Real Estate Transfer Tax Property: Condominium Unit A -5 and Parking Unit AP -25, Building A, Northwoods Condominiums, street address 600 Vail Drive #A5, Vail, CO Scheduled Hearing: 1/18/2011 @ 6:00 P.M. Dear Ms. Carberry: This letter is in follow -up to your telephone conference with Daniel Newman, our attorney, regarding a continuance from January 18, 2011 until March 2011 of the scheduled hearing before the Town Council of Vail on our RETT appeal. We understand that this request waives the 30 -day requirement for the Town Council to rule. The reason for this request is to allow us to obtain and provide documentation in proof of the facts stated in our appeal. Thank you for your consideration and I request that you confirm that the hearing on the RETT appeal has being re- scheduled. Please feel free to direct your response to our attorney, Dan Newman, directly at 727 - 938 -0055. His address is P. O. Box 129, Tarpon Springs, Florida 34688 -0129. Sincerely '- a e Hu e Vice Presid o Pacific Cc , Inc. Manager of Parpolcondor Properties, LLC 1421 Monroe Street Hollywood, FL 33029 Cc: J. Matthew Mire, Town Attorney Elke Lenherr - Toedtli Steve Corcoran Daniel J. Newman j , 3/15/2011 9 -1 -10 i s HAYES, PHILLIPS, HOFFMANN & CARBERRY, P.C. 1530 Sixteenth Street, Suite 200 Denver, Colorado 80202 -1468 Telephone: (303) 825 -6444 Facsimile: (303) 825 -1269 Corey Y. Hoffmann Fairplay Office Elizabeth C. Gross Kendra L. Carberry 675 Main Street Christine C. Stretesky Jefferson H. Parker P.O. Box 1046 Cristina DiMaria Fairplay, CO 80440 Of Counsel Telephone: (719) 836 -9005 John E. Hayes Facsimile: (719) 836 -9010 Herbert C. Phillips January 13, 2011 Bonnie . Hughey 142 onroe Street H ywood, FL 33020 Re: Appeal of Denial of Exemption from Town of Vail Real Estate Transfer Tax Dear Ms. Hughey: Our firm acts as special counsel to the Town of Vail, Colorado (the "Town "), and we received your request for a delay of the appeal hearing originally set for January 18, 2011. By this request, you have waived your right to have the appeal hearing within 30 days of the Town Manager's decision. Please be advised that the hearing on your RETT appeal has now been rescheduled to be heard by the Town Council on March 15, 2011, at 6:00 p.m. or as soon thereafter as the matter may be heard, at the Town Council Chambers, 75 South Frontage Road, Vail, Colorado 81657. Very truly yours, i � endra L. C e c: J. Matthew Mire, Town Attorney 1113111 3/15/2011 Q. IUSERSIVAILIKLCIHUGHEY- PE7TAPPEAL- LOI.DOC 9 -1 -11 BEFORE THE TOWN COUNCIL VAIL, COLORADO IN RE: PACIFIC CONDOR, INC., Grantor to PAR-POLCONDOR PROPERTIES, LLC, Grantee Property: Condominium Unit A-5 and Parking Unit AP-25, Building A Northwoods Condominiums Date of Closing: September 29, 2010 An Appeal From The Denial of An Application for Exemption from Real Estate Transfer Tax BONNIE J. HUGHEY 1421 Monroe Street Hollywood, FL 33020 Tel: (954) 920-3242 Vice President, Pacific Condor, Inc. Manager, Parpolcondor Properties, LLC 3/15/2011 9 -1 -12 STATEMENT OF THE CASE AND FACTS This is an appeal pursuant to Section 2 -6 -6 E of the Vail Town Code. The subject property is described as CONDOMINIUM UNIT A -5, and PARKING UNIT AP -25, BUILDING A, NORTHWOODS CONDOMINIUMS, according to the Condominium Map thereof recorded December 23, 1975 in the records of the Clerk and Recorder of Eagle County, Colorado, in Book 243, at Page 811, of such records and as defined in the Condominium Declaration recorded December 23, 1975 in Book 243 at Page 810, of such records; subject to the terms, conditions and provisions in said Declaration. Historically, the subject property was transferred by Federico and Marisa B. Durr ( "Durrs ") to Pacific Condor, Inc., a California corporation ( "Pacific ") by warranty deed with an effective date of January 1, 1983. Exhibit A. The Durrs had structured ownership of their various properties, including the Vail property, through a configuration of corporate ownership and trusts in order to take advantage of various tax provisions. The Grantor, Pacific is a subsidiary of Condor Financial Corporation, a Florida corporation, ("Condor ") whose address is 1421 Monroe Street, Hollywood, Florida, which is the same address as the Grantee, Parpolcondor Properties, LLC, a Florida limited liability company ( "Parpolcondor "). Additionally, Condor has a second subsidiary - Polar Condor, Inc., a Florida corporation ( "Polar ") which also holds properties of the Durrs. It was determined that it was in the best interest of the true owners, the Durrs, to form a limited liability company and restructure ownership of the f. various properties by placing title to them in a limited liability company formed specifically for that purpose — Parpolcondor. 3/15/2011 9 -1 -13 On September 29, 2010, the property was transferred from Pacific to Parpolcondor. Exhibit B. Parpolcondor executed a demand note and mortgage to Pacific for the appraised value of $1,200,000.00. Exhibit C. Parpolcondor has registered to do business in Colorado for purposes of ownership and operation of the Vail condominium. As part of the consolidation and restructuring Parpolcondor issued a promissory note and mortgage to Pacific. Pacific and Polar are in the process of dissolving, and the notes and mortgages are to be assigned to their parent corporation, Condor. Condor, in turn, will be dissolved and the subject notes and mortgages will be assigned to its sole shareholder, Condor Artic, SA. Last, it is intended that Condor Artic will assign the note and mortgage to its sole shareholder which is the same entity as the sole member of Parpolcondor. The sole member of Parpolcondor is a trust of which its beneficiaries are the Durrs. The consideration was always intended to be a method of restructuring only. When the transfer documents were prepared, the parties reviewed the Eagle s County's website for to determine the requirements to record the same. Since the parties were related, they did not do anything more than consult the Eagle County Clerk and Recorder's website. Following recording, the attorney for the Vail Town Attorney' office called to advise that a Vail real estate transfer tax was due. The representative of the Grantor and Grantee prepared and submitted a Town of Vail, Real Estate Transfer Tax Exemption Application, which was denied on December 2, 2010. The denial was received on December 5, 2010. Exhibit D. On December 10, 2010, Appellants mailed payment of $12,000 to the Town of Vail in payment of the Real Estate Transfer Tax. Section 2 -6 -5 of the Vail Colorado Town Code, provides that "the real estate transfer tax imposed by this Chapter shall not apply to: ... E. Changes Within Entity. Transfers made 3/15/2011 9 -1 -14 pursuant to reorganization, merger or consolidation of corporations, or by a subsidiary to a parent corporation for no consideration other than cancellation or surrender of the subsidiary's stock, or transfers made to a corporation, partnership, limited partnership, ioint venture, business trust or other association or organization, if that association or organization is owned by the persons by whom such transfer is made, if such owners have the same relative interests in such association or organization as they had in the real property immediately prior to such transfer and there is no consideration other than their respective interests in the new association. This transfer was made to an organization which is owned by the persons who have the same interest in the seller, and there is no actual consideration other than their respective interests in the new association. Appellants submit that they are entitled to a refund payment. CONCLUSION i The denial of Appellants' application for real estate transfer tax exemption should be reversed. Date , 1 2 • tw Respectfully submitted, Bonnie J. H e 1421 Monr e Str et Hollywoo , 3020 Tel: (954) 920 -3242 Vice President, Pacific Condor, Inc. Manager, Parpolcondor Properties, LLC Vice President, Condor Financial, Inc. Enclosures: cc: Matt Mire, Vail Town Council 3/15/2011 9 -1 -15 25194 _M_". WX 36 �Adnnefte Pbjoiii i 9. oo Am r<<4 a�+ WARRANT DEED 1 0A dF F p . THIS DEED is made tie �g da of Y� A11�6� between FEDERICO DUR'R• and MARISA DURR, joint P'"ORUR�' Apartedo No. 372, Cl.racas, Venezuela, parties of the first. part, and PACIFIC CONDOR, INC., a Corporation inq�gp ra r- r pursuant 'to the laws of the State of California Xq_ uTk3n d to do business in the State of Colorado, whose legal address : •- , ,••, `::�;, �:yw� , .J�v Lri�dll iL OI.Y @et V017dr1 V21U l.uo , Florida 33146, party of the second part. r WITNESSETH, That the sand parbi�s 4f the Yirst'.part, for and in consideration of the sum of Ten - Dollars`($14c00) and other good and valuable consider,R to the Skid parties of the first part paid, the receipt whereof is hereby confessed and acknowledged, have granted, bargained, sold and conveyed, and by these presents do grant,'bargain, sell, convey and confirm, unto the said party of the second part, its successors and assigns forever, all of the following described lot or parcel of land, situate, lying and being in the County of Eagle and State of { Colorado, to wit: -0, r f 'f CONDOMINIUM UNIT A -5, and PARKING UNIT AP -25, BUILDING A, a NORTHWOODS CONDOMINIUMS, accor''.ing to the Condominium Map thereof recorded December 21, 1975 in the :.records of the Clerk and Recorder,of Eagle County, Colorado, v o in Book 243, at Page..8.11, of such records and.as dgfined. ` 0 o in the Condominium Declaration recorded .Decemb'er 2s, x �+ 1975 in Bnok 243 at Page 510, of •such records; subs# xf•. to the terms, conditions and .prbvis»ns : it '*? igcA w « said Declaration. r TOGETHER with all and singular the : :hereditaments• and appurtenances thereto belonging or in anywise: apperta'ining �'. the reversion and reversions, remainder and remainders, rents, ; issues and profits thereof; and .411 the estate', :,eight, ti'tle.; interest, claim and demand whatsoever of the sail parties . of the first part, either in law or`'Bquit y, of, in sad to the :atiove�;�� •" bargained premises, with the hereditaments and �purtenances.' s:F TO HAVE AND TO HOLD the said premises above bargained and described, with the appurte:.ahces, unto the said party of , the second part, its successors aand ,assigns forever. And the said parties of the first part, for themselves, their heirs, executors, and administrators, do covenant, grant, bargain and agree to and with the said party of the second part, its successors and assigns, that at the time of the ensealing and delivery of these presents they are well seized of the premises above conveyed, as of good, sure, perfect, absolute and indefeasible estate of inheritance, in law, in fee simple, and have good right, full power and lawful authority to grant bargain-, sell and convey the same in manner and form as aforesaid, and.that the same are free and clear from all former and other grants, bargains, n sales, liens, taxes, assessments and encumbrances of whatever kind'or nature soever, except as hexeinbefore set forth, and Except any easements, licenses, or other restrictions or reservations of record pertaining to any of the property lying within the boundary of the Condominium Map, and including but not limited to taxes for the year 1982, and the above - bargained premises in the quiet and peaceable possession of the said party of the second part, its successors and a.ssigns against and every person or persons lawfully claiming or to claim the whole or any.pa?r thereof, the said parties of the first part and will WARRANT AND FOREVER DF.FEI D. . . . . . . . . . . . . r = m e IN WITNESS WHEREOF the said parties of the first part have hereunto set their hands and seals. z bib A _'.' z .F i B . STATE OF FLORIDA) se COUNTY OF DADE F �. The foregoing instrument was acknowledged before me this da of 1982, by FEDERICO DURR and MARISA. DURR. Witness my hand and official seal r My address is: 4090'Laguna Street Coral- Garbles, Florida 33146 E r lCMPLl STAIE'OF R0RIDAAT.LARGE My Commission Expires } aNX OMMi "Av�ivov i iees -, jQ!'�D TldfO I IIUS . UNCERWRITfRS z`^ This instrument,prepared by: David F young,Esg. 4090 Laguna Street Coral Gables, -orida 33146. Z S.ae ti Y 3 2 s - _ f i EAGLE COUNTY, CO 201020154 TEAK J SIMONTON Pgs= 2 12:57 :00PM 10/07/2010 REC: $16.00 DOC: $120.00 I 4 THIS INSTRUMENT PREPARED BY AND RETURN TO: Daniel J. Newman, Esquire P.O. Box 129 Tarpon Springs, Florida 34688 -0129 QUIT -CLAIM DEED THIS DEED made on , 2010, by Pacific Condor, Inc., a California corporation, of 1421 Monroe Stree , Hollywood, Florida 33020, Grantor, for a valuable consideration, receipt of which is hereby acknowledged, hereby remises, releases and forever quit - claims to Parpolcondor Properties, LLC, a Florida limited liability company, of 1421 Monroe Street, Hollywood, Florida 33020 Grantee, all of that real property located in Eagle County, Florida and more fully described as follows: CONDOMINIUM UNIT A -5, and PARKING UNIT AP -25, BUILDING A, NORTHWOODS CONDOMINIUMS, according to the Condominium Map thereof recorded December 23, 1975 in the records of the Clerk and Recorder of Eagle County, Colorado, in Book 243, at Page 811, of such records and as defined in the Condominium Declaration recorded December 23, 1975 in Book 243 at Page 810, of such records; subject to the terms, conditions and provisions contained in said Declaration. Parcel ID Number: 2101 - 081 -11 -005 Street address of the Property: 600 Vail Drive #A5, Vail, Colorado. THIS IS NOT THE HOMESTEAD PROPERTY OF THE GRANTOR. IN WITNESS WHEREOF, Grantor has caused this instrument to be signed on the day first above written. Pacific Condor, I Gra t r B ' n i J. HvEdhey i is r i ent Signature of Witne s to Signature of Witness to Bonnie J. Hughey Bonm J. Hug e Print ype Name of Witness Print or Type Name of Witness X �JC/I�1 w J U a N 3//2011 m 9 -1 -18 a State Of Florida County Of Pdifff4 e tc The preg ing instrument was acknowledged before me this '25 day of s 2010 by Bonnie J. Hughey, Vice President of Pacific Condor, Inc., a California corporation. on behalf of the corporation. She is personally known to me or has produc( (type of identification) as identification. 1, J NOTN' "PTf B STATE OF i i NOTARY PUBLIC -STATE OF FLORIDA David E. Reiser Print, Type or Stamp Commissioned `Comr;iission #DD995616 of Notary Public Expires: JUNE 05, 2014 BONDED THRG ATLAti - ITC BONDLNG CO., INC. t Send subsequent tax bills to: Parpolcondor Properties, LLC 1421 Monroe Street Hollywood, FL 33020 i } e r S i I F t e f 3/15/2011 9 -1 -19 i EAGLE COUNTY, CO 201020155 TEAK J SIMONTON Pgs: 4 12:57:01PM 10/07/2010 REC: $26.00 DOC: $ i THIS INSTRUMENT PREPARED BY AND RETURN TO: Daniel J. Newman, Esquire P.O. Box 129 Tarpon Springs, Florida 34688 -0129 PURCHASE MONEY MORTGAGE THIS PURCHASE MONEY MORTGAGE is executed on ,2010 by Parpolcondor Properties, LLC, a Florida limited liability company, oe 1421 Monroe Street, Hollywood, Florida 33020 ( "Mortgagor ") who in consideration of the principal sum specified in the promissory demand note hereafter described received from Pacific Condor, Inc., a California corporation, of 1421 Monroe Street, Hollywood, Florida 33020 ( "Mortgagee "), does hereby mortgage to Mortgagee the real property located in Eagle County, Colorado, more fully described as follows: CONDOMINIUM UNIT A -5, and PARKING UNIT AP -25, BUILDING A, NORTHWOODS CONDOMINIUMS, according to the Condominium Map thereof recorded December 23, 1975 in the records of the Clerk and Recorder of Eagle County, Colorado, in Book 243, at Page 811, of such records and as defined in the Condominium Declaration recorded December 23, 1975 in Book 243 at Page 810, of such records; subject to the terms, conditions and provisions contained in said Declaration. Parcel ID Number: 2101 - 081 -11 -005 as security for the payment of the purchase money promissory demand note attached as Exhibit A (the "note "), given as part of the purchase price for the real property and agrees: 1. To make all payments required by ilie note and this mortgage promptly when due. 2. To pay all taxes, assessments, liens, and encumbrances on that property promptly when due. If they are not promptly paid, Mortgagee may pay them without waiving the option to foreclose, and those payments, with interest thereon from the date of payment at the same rate as specified in the note, also shall be secured by this mortgage. 3. To keep all buildings now or hereafter on that land insured against damage by fire, lightning windstorm in the sum secured by this mortgage, by an insurer satisfactory to Mortgagee, the insurance policy to be held by and payable to Mortgagee. If Mortgagor does not do this, Mortgagee may do so without waiving the option to foreclose, and the cost of the insurance, with interest from the date of payment at the same rate as specified in the note, shall also be secured by this mortgage. If any sum is paid under a claim on such a policy, Mortgagee may apply it to the 3/1/2011 a 9 m1 -20 k, indebtedness secured by this mortgage, or may permit Mortgagor to use it for other purposes, without impairing the lien of this mortgage. 4. To commit, permit, or allow no waste, impairment, or deterioration of the mortgaged property. ¢ 5. To pay all expenses reasonably incurred by Mortgagee because of failure of Mortgagor to comply with the agreements in the note or this mortgage, including reasonable attorneys' fees. The cost of this, with interest from the date of payment at the same rate as specified in the note, shall also be secured by this mortgage. 6. If any payment provided for in the note is not paid within 30 days after it becomes due, or if any agreement in this mortgage other than the agreement to make the payments is breached, the entire unpaid principal balance of the note shall immediately become due at the 4 option of Mortgagee, and Mortgagee may foreclose this mortgage in the manner provided by law and have the mortgaged property sold to satisfy or apply to the indebtedness hereby secured. 7. The rents and profits of the mortgaged property are also mortgaged hereby, and, if proceedings to foreclose this mortgage are instituted, the court having jurisdiction should appoint a receiver of the mortgaged property and apply those rents and profits to the indebtedness hereby secured, regardless of the solvency of Mortgagor or the adequacy of the security. IN WITNESS WHEREOF, Mortgagor has caused this instrument to be signed on the day first z above written. Parpolcondor Properties,�L , Mortgagor _ 7 ie J ghey as it anag Signature of Witness to Signature of Witness to Bonnie J. Hughey Bonnie J. Hughey s� OG G,,1. _. �( 15 �/ Print or Type Name of Witness Print or Type Name of Witness s s 4 6 3/15/2011 9 -1 -21 State Of Florida County Of PalmI�each�� The for in instrument was acknowledged before me this �� day of 2010 by Bonnie J. Hughey, Manager of Parpolcondor Properties LLC, a Florida limited liability company behalf f of Parpolcondor Properties, LLC. She is personally known to me or has produced _ t (type of identification) as identification. NOTAR UBL STATE OF �h - ,.. FLORIDA iZeiser #DD995616 Print, Type or Stamp Commissioned Expires: JUNE 05, 2014 BONDID rIIItU AiI nNITC BONDING CO., INC of Notary Publ NOTARY PL`Bi.I2Vid O R e s ����eicn #D 0592014 :� ExpiresV SUN INGCa,nza CB I,••• ^ lggtlTLhA BONDED 1 r. i z 4s 3/15/2011 9 -1 -22 e 4 3 PURCHASE MONEY DEMAND NOTE Date: On demand, the undersigned, for value received, promises to pay to the Order of Pacific Condor, Inc., a California corporation, the sum of One Million Two Hundred Thousand Dollars and no cents ($1,200,000.00) together with interest thereon from the date hereof until paid at the rate of 5.0% per annum. In the event this Note is not paid when due, the undersigned shall pay all attorney's fees and reasonable costs of collection. NOTICE TO BORROWER: This is a demand note and so may be collected by the lender at any time. Parpolcondor Properties, LLC, a Florida Limited Liability Company i BY: BONNIE J. HUGHEY Its Manager This note is subject to a purchase money mortgage on that certain property located in Eagle County, Vail, California, described as Unit A -5 and Parking Unit AP -25, Building A, Northwoods Condominiums R c k i m d V r � .Z N F 3/15/2011 X 1, TOWN OF VAIL REAL ESTATE TRANSFER TAX EXEMPTION APPLICATION F Grantor (Seller): Pacific Condor, Inc. r Grantee (Buyer): Parpolcondor Properties, LLC Date of Closing: September 29, 2010 (All appropriate documents pertaining to this request must be submitted with this request.) Legal description: CONDOMINIUM UNIT A -5, and PARKING UNIT AP -25, BUILDING A, NORTH WOODS CONDOMINIUMS, according to the Condominium Map thereof recorded December 23, 1975 in the records of the Clerk and Recorder of Eagle County, Colorado, in Book 243, at Page 811, of such records and as defined in the Condominium Declaration recorded December 23, 1975 in Book 243 at Page 810, of such records; subject to the terns, conditions and provisions in said Declaration. Address of property: 600 Vail Drive #A5, Vail, CO The undersigned, as grantorigrantee of a deed or instrument of conveyance dated 0912912010 hereby applies for exemption from the payment of the Land Transfer Tax, imposed by Title 2, Chapter 6 of the Vail Municipal Code, of the Town of Vail. The basis for such exemption is as follows: Transfer was made to a limited liability company which is owned by the party which owns the grantor corporation and the owner has the same relative interest in the grantee as it does in the grantor and therefore in the real property immediately prior to such transfer and there were no funds involved — just a promissory note against the capital ownership by the same party which owns both the grantor and grantee. I hereby certify under penalty of perjury that the foregoing state en are true and correct Gra or /Granted ( Date Bonnie J. Hug ey, Vice PresideM of Paci c Condor, Inc. (Grantor) and Manager of Parpolcondor Properties, LLC (Grantee) PLEASE PRINT Name: Bonnie J. Hughey " "See below Address: 1421 Monroe Street, Hollywood, FL 33020 Phone: (954) 920 -3242 EXEMPTION a The above requested exemption is: Granted Denied�� G Town Manager Date Please fill out and return to: Town of Vail, 75 S. Frontage Road, Vail, CO 81657 along with a self - addressed, stamped envelope. Original executed copy of this application will be sent back to applicant (at address noted above) upon approval/denial of application. If others are to receive a response, please provide the appropriate self- addressed, stamped envelopes for return. `rte x �'�1 X81 T w J - 3/5/2011 T- 1 - 2-1 2 -6 -5: EXEMPTIONS: The real estate transfer tax imposed by this Chapter shall not apply to: A. Governmental Entities: Any transfer wherein the United States, or any agency or instrumentality thereof, the State, any county, city and county, municipality, district or other political subdivision of this State, is either the grantor or grantee. B. Gift: Any gift of real property, where there is no consideration other than love and affection or charitable donation. C. Joint Properties: Any transfer by document, decree or agreement partitioning, terminating or evidencing termination of a joint tenancy, tenancy in common or other co- ownership in real property; however, if additional consideration of value is paid in connection with such partition or termination, the tax shall apply and be based upon such additional consideration. D. Death: The transfer of title or change of interest in real property by reason of death, pursuant to: a will, the law of descent and distribution, or otherwise. E. Changes Within Entity: Transfers made pursuant to reorganization, merger or consolidation of corporations, or by a subsidiary to a parent corporation for no consideration other than cancellation or surrender of the subsidiary's stock, or transfers made to a corporation, partnership, limited partnership, joint venture, business trust or other association or organization, if that association or organization is owned by the persons by whom such transfer was made, if such owners have the same relative interests in such association or organization as they had in the real property immediately prior to such transfer and there is no consideration other than their respective interests in the new association or organization. F. Bankruptcies: Transfers to make effective any plan confirmed or ordered by a court of competent jurisdiction under the Bankruptcy Act or in an equity receivership proceeding. G. Corrections To Title: Any transfer made and delivered without consideration for the purpose of confirming, correcting, modifying or supplementing a transfer previously recorded; making minor boundary adjustments; removing clouds on titles; or granting easements, rights of way or licenses. H. Court Order: Any decree or order of a court of record quieting, determining or resting title, including a final order awarding title pursuant to a condemnation proceeding. I. Cemetery Lots: Any transfer of cemetery lots. J. Leases: Any lease of any real property (or assignment or transfer of any interest in any such lease) provided the terms and conditions of such lease do not constitute a taxable lease of the property. K. Mineral Rights: Any mineral transfer or royalty transfer. L. Debt Securities: Transfers to secure a debt or other obligation, or releases on real property which is security for a debt or other obligation. 3/15/2011 9 -2 -1 M. Executory Contract: Any executory contract for the sale of real property, of less than three (3) years' duration, under which the vendee is entitled to or does take possession thereof without acquiring title thereto, or any assignment or cancellation of any such contract. N. Prior To Effective Date: Any transfer that is made pursuant to a valid and legally enforceable contract for sale entered into between the seller and purchaser prior to the effective date of Ordinance 26, Series of 1979, pursuant to which transaction the deed or instrument of conveyance is executed and recorded on or before June 1, 1980. O. Presale Contract: Any transfer that is made pursuant to a valid and legally enforceable presale contract: 1) entered into between a seller and a purchaser prior to the effective date of Ordinance 26, Series of 1979; 2) pursuant to which transaction the deed or instrument of conveyance is executed and recorded on or before June 1, 1980. A "presale contract" is defined as a valid and legally enforceable contract for the sale of real property which has been signed prior to the commencement of construction of improvements thereon, to be closed following completion of the improvements and pursuant to which contract seller is obligated to construct the improvements to the property after the contract is signed and prior to the closing date of the contract. P. Certain Housing Projects: Any sale or conveyance of real property or improvements for the purpose of constructing, or providing low or moderate priced housing units for sale or lease to low or moderate income persons; provided, that the parties to the transaction shall apply to the Town Manager for the exemption prior to its being allowed, and the parties shall agree to appropriately restrict the future use of the property to low and moderate priced housing units by recorded agreement, deed restriction, covenants, declarations, or similar instrument as may be required by the Town Manager. O. Properties Not Annexed: Any transfer that is made pursuant to a valid and legally enforceable contract for sale or presale contract entered into between the seller and the purchaser prior to the effective date of the annexation and pursuant to which transaction, the deed or instrument of conveyance is executed and recorded within one hundred eighty (180) days after the date the annexation of the property to the Town is effective. (Ord. 42(1980) § 1: Ord. 5(1980) § 5: Ord. 26(1979) § 5) 3/15/2011 9 -2 -2 DANIEL J. NeV MAN P.A. ATTORNEYS AT LAW P.O. Box 129 Tarpon Springs, FL 34688 -0129 [727] 938 -0055 [727] 938 -9077 d newrnan42(a)tarnpabay.rr. corn March 10, 2011 Via email to TI ailc(a)vail2ov.com Tammy Nagle Office of J. Matthew Mire Vail Town Attorney Re: Appeal of Denial of Exemptions from Town of Vail Real Estate Transfer Tax Pacific Condor, Inc. and Parpolcondor Properties, LLC Hearing Date and Time: March15, 2011 @ 6:00 p.m. Northwoods Condominium A -5, Vail Dear Tammy: This letter is in follow -up to our telephone conversation this morning that I am enclosing additional supporting documents to my clients' appeal as follows: 1. Printouts from the Colorado Secretary of State's Website with respect to Pacific Condor, Inc., the grantor of the subject property: a. Statement of Foreign Entity Withdrawal filed with the Colorado Secretary of State on February 18, 2011. b. Summary printout confirming that Pacific Condor, Inc. relinquished its Colorado Authority on February 18, 2011. C. History and Documents two -page printout confirming that Pacific Condor, Inc. filed a statement of foreign entity withdrawal. 2. Florida Department of State correspondence and documents with respect to Condor Financial Corporation: a. Cover letter dated February 11, 2011. b. Certificate of Status that Condor Financial Corporation was dissolved on February 10, 2011. C. Certified copy of Articles of Dissolution of Condor Financial Corporation. 3/15/2011 9 -3 -1 3. Recorded Assignment of Mortgage and Indebtedness from Pacific Condor, Inc. to its sole stockholder, Condor Financial Corporation, a Florida corporation, on February 5, 2011. 4. Recorded Assignment of Mortgage and Indebtedness from Condor Financial Corporation to its sole stockholder, Condor Artic, S.A., a Panama corporation, on February 9, 2011. 5. Recorded Assignment of Mortgage and Indebtedness from Condor Artie, S.A. to its sole stockholder, M & O Treuhand AG, Trustee for the Pilot Trust, a trust created under Liechtenstein law, on February 10, 2011. 6. State of California Domestic Stock Corporation Certificate of Dissolution dated February 1, 2011 and mailed to the California Secretary of State on February 15, 2011. 7. Florida Department of State correspondence and documents with respect to Parpolcondor Properties, LLC: a. Cover letter dated July 26, 2010. b. Certificate of Status that Parpolcondor Properties, LLC is a limited liability company filed on July 26, 2010 and active. C. Certified copy of the Articles of Organization of Parpolcondor Properties LLC which were signed by its sole member M & O Treuhand AG, Trustee for the Pilot Trust (the current holder of the mortgage and note). Under Chapter 6 Real Estate Transfer Tax, 2 -6 -5: Exemptions, ¶ E. Changes Within Entity, this transfer, albeit somewhat involved, did not involve a transfer of funds or capital. It is understood that you will make copies and deliver the same to the Town Council. Thank you for your assistance. Sincerely, Daniel J. Newman DJN /dp Enclosures cc: Kendra L. Carberry by facsimile @ 303- 825 -1269 Bonnie J. Hughey Elke Toedtli Steve Corcoran 3/15/2011 9 -3 -2 - C Document processing fee If document is filed on paper $125.00 If document is filed electronically Currently Not Available Fees & forms /cover sheets are subject to change. To file electronically, access instructions i i i I L 11 1 for this form/cover sheet and other $125- information or print copies of filed SECRET F S TAT E documents, visit www.sos.state.co.us 0 1St`' =011 11='.Z , 30 and select Business. Paper documents must be typewritten or machine printed. ABOVE SPACE FOR OFFICE USE ONLY Statement of )Foreign Entity Withdrawal filed pursuant to §7 -90 -301, et seq, and 57- 90 -$06 of the Colorado Revised Statutes (CRS) L ID number: 19221030071 p 1. True name: PACIFIC CONDOR, INC. p 2. Assumed entity name (if different from True name) 3. Registered agent: (if an individual): (Last) (First) (Middle) (Suffix) OR (if a business organization): PRENTICE -HALL CORP SYSTEM INC p The person appointed as registered agent in the document has consented to being so appointed. Registered agent street address: 1560 Broadway p (Street name and number) Suite 2090 p Denver p CO 80202 p (City) (State) (Posta112ip Corte) Registered agent mailing address: (if different from above) (Street name and number or Post Office Box information) (City) (State) (PostallZip Code) (Province - ifapplicable) (Country - lfnot US) OR If the registered agent is no longer to be maintained, the mailing address to which service of process may be mailed. (Street name and number or Post ice Box information) (City) (Stare) (P- 1al/Zip Code) (Province — if applkable) (Country — if not US) d. Jurisdiction of formation: California p WTDRW — A11TH Page 1 of 2 Rev. 6I16f2405 1 � /201 1 9 -3 -3 5. Principal office mailing address: 1421 Monroe Street p (Street name and number or Post ice Sox information) Hoil_y_w_oo_ d_ p FL© 33020 p (City) (State) (PostallZip Code) (Province- ifopplicable) (Country - fnot US) b. The entity will no longer transact business or conduct activities in this state and it relinquishes its authority to transact business or conduct activities in this state. 7. The registration of all trade names registered by the entity with the secretary of state pursuant to §7 -70 -101, C.R.S. and any assumed entity name pursuant to §7 -90 -603, C.R.S. are withdrawn upon the filing of this statement_ 8. (Optional) Delayed effective date: (mm/dd/yyyy) Notice: Causing this document to be delivered to the secretary of state for filing shall constitute the affirmation or acknowledgment of each individual causing such delivery, under penalties of perjury, that the document is the individual's act and deed, or that the individual in good faith believes the document is the act and deed of the person on whose behalf the individual is causing the document to be delivered for filing, taken in conformity with the requirements of part 3 of article 90 of title 7, C_R_S., the constituent documents, and the organic statutes, and that the individual in good faith believes the facts stated in the document are true and the document complies with the requirements of that Part, the constituent documents, and the organic statutes. This perjury notice applies to each individual who causes this document to be delivered to the secretary of state, whether or not such individual is named in the document as one who has caused it to be delivered. 9. Name(s) and address(es) of the individual(s) causing the document to be delivered for filing: Newman p Daniel p J p (Last) (First) (Middle) (Su PO Box 129 p (Street name and number or Post Office Box information) Tarpon Springs p FLO 34688 -0129 p (City) . (State) (PostallZip Code) (Province -if applicable) (Country -ifnot US) (The document need not state the true name and address of more than one individual. Ho,vever, ifyou wish to state the name and address of any additional individuals causing the document to be deliveredfor frfing, mark this box ❑ and include an attachment stating the name and address of such individuals.) Disclaimer: This form, and any related instructions, are not intended to provide legal, business or tax advice, and are offered as a public service without representation or warranty. While this form is believed to satisfy minimum legal requirements as of its revision date, compliance with applicable law, as the same may be amended from time to time, remains the responsibility of the user of this form. Questions should be addressed to the user's attorney. WTDRw AUTH Page 2 of 2 Rev. 6/16/2005 3/15/2011 9 -3 -4 Colorado Secretary of State - Summary Page 1 of 1 Home Business I Elections I Licensing Press I About Us ! Contact Us For this Record... History $ Dc cuments File a Document Su mma ry Subscribe Email Notification Unsubscribe Email Notification ID Number: 19921030071 Name: PACIFIC CONDOR, INC., Colorado Authority Relinquished February 18, Bossiness Home 2011 Business Information Business search Registered Agent: PRENTICE -HALL CORP SYSTEM INC Registered Agent Street Address: 1560 Broadway, Suite 2090, Denver, CO 80202, United States nns' I nform ation and Registered Agent Mailing Address: Istforratati ®tt Principal Street Address: 1421 Monroe St., HOLLYWOOD, FL 33020, United States Principal Mailing Address: 1421 Monroe Street, Hollywood, FL 33020, United States Status: Withdrawn Form: Foreign Corporation Jurisdiction: California Formation Date: 03/23/1992 Term of Duration: Perpetual Periodic Report Month: March You may: • View History and Documents • File a Document • Subscribe to E -mail Notification Regarding this Record • Unsubscribe from E -mail Notification Regarding this Record 5eamb { Accessiaiiity I Privacy statemert I Te of use 1700 Broadway, Denver Co 8029:7 303 894 - 22OLI 1 sos. business @ses.state.co.us 3/15/2011 9 -3 -5 http: / /www.sos. state. co. us/ bizBusinessEntityDetaiLdo,isess onid =�0000nLm gtfxEAwmUo1YDr... 2/24/2011 Colorado Secretary of State - History and Documents Page 1 of 1 time I Business I Elections I Licensing Press I About us i Contact GIs For this Record... rife a Document Su bscr i b e ;" History and Documents teat €�saEi�n Unsubscribe Email Notification Return to Summary PACIFIC CONDOR, INC., Colorado Authority Relinquished February 18,20 11 Business Home ID number: 19921030071 Business information Next 13y Business Search 1 2 FA,Qs Glossary and Found 33 matching record(s). Viewing page 1 of 2. information # Event Date Filed Date EffectiveDate Document # Comment Posted (click to view! 1 Application for Authority 03/23/1992 03/23/1992 03/2311992 12:00 AM 19921030071 PACIFIC CONDOR, INC, 2 Report Printed 02115/1994 0211511994 02/15/1994 12:00 AM CR - 03/01/94 - 05/31/94 3 Report 04/05/1994 04/05/1994 04/05/1994 12:00 AM 19941040219 CORP REPORT 4 Amendment 04/05/1995 04/05/1995 04/05/1995 12:00 AM 19951048940 CHANGE RORA 5 Report Printed 02/15/1996 02/15/1996 02/15/1996 12:00 AM CR - 03/01/96 - 05/31/96 6 Report 03/18/1996 03/18/1996 03/18/1996 12:00 AM 19961037926 PERIODIC REPORT 7 Report Printed 02113/1998 02/1311998 02/13/1998 12:00 AM CR - 03/01/1998 - 05/31/1998 8 Report 05/22/1998 05/22/1998 05/22/1998 12:00 AM 19981095881 PERIODIC REPORT 9 Report Printed 02/16/2000 02/16/2000 02/16/2000 12:00 AM CR - 03/01/2000 - 05131 12000 10 Report 04/20/2000 04/20/2000 04120/2000 12:00 AM 20001081143 CORP REPORT 11 Report Printed 02/20/2002 02/20/2002 02/2012002 12:00 AM PR - 03101/2002 - 05/3112002 12 Report 05/14/2002 05/14/2002 05/14/2002 12:00 AM 20021129161 CORP REPORT 13 Report Printed 02/15/2003 02/15/2003 02/15/2003 12:00 AM PR - 03/01/2003 - 05/31/2003 14 Report 04119/2003 04/19/2003 04/99/2003 12:00 AM 20031125813 CORP REPORT 15 Report Printed 02/18/2004 02/18/2004 02118/2004 12:00 AM PR - 03/01/2004 - 05131/2004 16 Report 05/27/2004 05/27/2004 05127/2004 12:00 AM 20041193599 PERIODIC REPORT 17 postcard notification printed 02120/2005 02120/2005 02/20/2005 02:18 AM annual report due: 02/20/2005 to be mailed 03/01/2005 05/31/2005 18 Report 04/27/2005 04127/2005 04/27/2005 10:37 AM 20051171025 Change of Entity Address 19 postcard notification printed 02/2112006 02/21/2006 02/21/2006 03:41 PM annual report due: 02/21/2006 to be mailed 03/01/2006 05/31/2006 20 Report 04/27/2006 04/27/2006 04/27/2006 05:34 PM 20069 � tlli Search I Accassibility I Privacy s;aieme .t I Terms of rise 1700 Broadway, Denver CC 80290 E 303 -594 -2200 i sos.business @sus.state.co.is 3/15/2011 9 -3 -,6 http: / /www.sos. state. co. us/ bizBusinessEntityHistory. do? quitButtonDestination= BusinessEntityD... 2/24/2011 Colorado Secretary of State - History and Documents Page 1 of 1 j Biome I Business I Elections I Licensing Press i About U5 1 Contact Us Forth is Record... Fi a Document Subscribe Email History and Documents Notification Unsubscribe Emaii Notification Return to Summary PACIFIC CONDOR, INC., Colorado Authority Relinquished February 18, 2011 sus9ness Home ED number: 19921030071 Business Information f<Prev 20 Business search 1 2 FAQs Giossarlr and Found 33 matching record(s). Viewing page 2 of 2. information # Event Date Filed Date EffectiveDate Document # Comment Post (click to view} 21 Filing Officer Correction 11/10/2006 11/10/2006 11/10/2006 03:16 PM Registered agen street address augmented to include the suite number 22 postcard notification printed 02/23/2007 02/23/2007 02223/2007 03:04 AM annual report due: 02/23/2007 to be mailed 03/01/2007 05/31/2007 23 Report 04127/2007 04/27/2007 04/27/2007 12:58 AM 20071203574 24 postcard notification printed 02/23/2008 02/23/2008 02/23/2008 04:18 AM annual report due: 02/23/2008 to be mailed 03/01/2008 05/31/2008 25 Report 02/28/2008 02/28/2008 02/28/2008 01:59 PM 20081117235 26 postcard notification printed 02/23/2009 02/23/2009 02/23/2009 03:24 AM annual report due: 02/23/2009 to be mailed 03/01/2009 05/31/2009 27 Report 04/24/2009 04/24/2009 04/24/2009 04:05 PM 20091230560 28 postcard notification printed 02/23/2010 02/23/2010 02/23/2010 03:52 AM annual report due: 02/23/2010 to be mailed 03/01/2010 05/31/2010 29 Change in Status 06/01/2010 06/01/2010 06/01/2010 01:32 AM Failure to file annual report 30 postcard notification printed 06/21/2010 06/21/2010 06121/2010 02:04 AM annual report due: 06121/2010 to be mailed 07/01/2010 2010 -08-31 31 Report 06/28/2010 06/28/2010 06/28/2010 01:28 PM 20101363681 32 Statement of Foreign Entity 02/18/2011 02/23/2011 02/18/2011 11:28 AM 20111100883 Withdrawal 33 postcard notification printed 02/23/2011 02/2312011 02/23/2011 03:23 AM periodic report due: 02/23/2011 to be mailed 03/01/2011 05/31/2011 Search i Accessib4ity I Privacy statement Terms of use 1700 Broadway, Denver CO 80290 I 303 894 - 2200 1 SOS. buSi nes8 @sos. sY3EG.c�.Ms 3/15/2011 9 -3 -7 h4: / /www.sos.st ate. co. us/ bizBusinessEntityHistory .doajsessionid= 0000nLm gtfxEAwmUolY... 2/24/2011 `y � . FLORIDA DEPARTMENT OF STATE Division of Corporations February 11, 2011 DANIEL J NEWMAN P.A. P.O. BOX 129 TARPON SPRINGS, FL 34688 -0129 US Re: Document Number F27346 The Articles of Dissolution, dissolving CONDOR FINANCIAL CORPORATION, a Florida corporation, were filed on February 10, 2011. The certification you requested is enclosed. Should you have any questions regarding this matter, please telephone (850) 245- 6050, the Amendment Filing Section. Tracy L Lemieux Regulatory Specialist II Division of Corporations Letter Number: 311 A00003666 vm__w4evnbiz.org Division of Corporations - P.OV DOPY 6327 - Tallahassee, Florida 32314 V A C3 C7 ®A CD CD CD CD C� C� CD C7 CD C CD CD A A Q CD Q Q �n n n n Gn n n n n ern O f a at == L 3 V 1# = a U ^ * r'OD WE SAU` n � 15epartmen# of Otatp V C 3 � I certify from the records of this office that CONDOR FINANCIAL CORPORATION was a corporation organized under the laws of the State of v Florida, filed. on March 30, 1981. 3 The document number of this corporation is F27346. further certify that said corporation was voluntarily dissolved on February 10, 2011. a 3 a � n � VC np ° V V V VC V n V �c Given under my hand and the Great Seal of the State of Florida at Tallahassee, the Capital, this the o� T srg Eleventh day of February, 2011 �ary fun CR2EO22 (01-07) �CD G°J crJ CD CD CD CD Q A A A A ® Q C� m G°J A G 6 V CD V C� � ® © ® ® ® ® CA Q ® V ® n❑ nLYin Gn Gn n a L n n ntYf 7G nYrn ntYin n n n n n n nYn n n n n V V a �3 � o f G lJ 3 C r ,N COD [PUSS V Bepttrtmrnt of Otate V g V� V I certify the attached is a true and correct copy of the Articles of Dissolution filed J3 on February 10, 2011, dissolving CONDOR FINANCIAL_ CORPORATION, a Florida Corporation, as shown by the records of this office. G� n V The document number of this corporation is F27346. n V n V �' 3 c �c 3 � V V C ~ 3c Given under my hand and the V Great Seal of the State of Florida at Tallahassee, the Capital, this the n 0 T s Eleventh day of February, 2011 � rk ,*. Prai Ttt ai ttte Q V CR2E022 (01-07) eaetaq V V C� V © © ® © ® ® ® ® ®V © © ®V ®V ©V ®V ©V ®V® ir G� m C� C�� �G G CONDOR FINANCIAL CORPORATION ARTICLES OF DISSOLUTION CONDOR FINANCIAL CONDOR FINANCIAL., a Florida corporation, executes the following articles of dissolution pursuant to Section 607.1403 of the Florida Business Corporation Act: FIRST: The name of the corporation as currently filed with the Florida Department of State is CONDOR FINANCIAL CORPORATION (the "Corporation "). SECOND: The document number of the corporation is F27346 THIRD: The date the dissolution was authorized: February 1, 2011 FOURTH: Dissolution was approved by the sole shareholder. The number of votes cast was sufficient for approval. Date: � /5 s Bonnie J. Hughey is widen . ,. ;M Cn 3/15/2011 9 -3 -11 EAGLE COUNTY, CO 201102741 TEAK J SIMONTON �✓ REC: X16.00 DOC:02:18 :13PM 02/ THIS INSTRUMENT PREPARED BY AND RETURN TO: Daniel J. Newman, Esquire P.O. Box 129 Tarpon Springs, Florida 34688 -0129 ASSIGNMENT OF MORTGAGE AND INDEBTEDNESS The undersigned owner and holder of a purchase money mortgage on that certain property described as: CONDOMINIUM UNIT A -5, and PARKING UNIT AP -25, BUILDING A, NORTHWOODS CONDOMINIUMS, according to the Condominium Map thereof recorded December 23, 1975 in the records of the Clerk and Recorder of Eagle County, Colorado, in Book 243, at Page 811, of such records and as defined in the Condominium Declaration recorded December 23, 1975 in Book 243 at Page 810, of such records; subject to the terms, conditions and provisions contained in said Declaration. Parcel ID Number: 2101- 081 -11 -005 Street address of the Property: 600 Vail Drive #A5, Vail, Colorado. and of the indebtedness secured by it made by PARPOLCONDOR PROPERTIES, LLC, a Florida limited liability corporation, to PACIFIC CONDOR, INC., a Florida corporation, securing $1,200,000.00 dated September 2010 which was recorded on November 1, 2010 in Reception No. 201020155, of the Public Records of Eagle County, Colorado, for valuable consideration, the receipt and sufficiency of which is hereby acknowledged, does assign and transfer without recourse to CONDOR FINANCIAL CORPORATION, a Florida corporation, whose address is 1421 Monroe Street, H::l rxood, Florida 33020, the above - described mortgage and indebtedness secured by it t DATED: 1 r Pacific Condor,1 Ow er nd�older Sy: Bonnie J. Hughey, t ice P esident 3/15/2011 9 -3 -12 EAGLE COUNTY, CO 201 102846 TEAK .J SIMONTON Pga: 2 02:35:29PM 02/14/2011 REC: $16.00 DOC: $ THIS INSTRUMENT PREPARED BY AND RETURN TO: Daniel I. Newman, Esquire P.O. Box 129 Tarpon Springs, Florida 34688 -0129 ASSIGNMENT OF MORTGAGE AND IlVDEBTEDNESS The undersigned owner and holder of a p:.irchase money mortgage on certain property described as: CONDOMINIUM UNIT A -5, and PARKING UNIT AP -25, BUILDING A, NORTHWOODS CONDOMINIUMS, according to the Condominium Map thereof recorded December 23, 1975 in the records of the Clerk and Recorder of Eagle County, Colorado, in Book 243, at Page 811, of such records and as defined in the Condominium Declaration recorded December 23, 1975 in Book 243 at Page 810, of such records; subject to the terms, conditions and provisions contained in said Declaration. Parcel ID Number: 2101- 081 -11 -005 Street address of the Property. 600 Vail Drive 4A5, Vail, Colorado. and of the indebtedness secured by it made by PARPOLCONDOR PROPERTIES, LLC, a Florida limited liability corporation, to PACIFIC CONDOR, INC., a Florida corporation, securing $1,200,000.00 dated September 2010 which was recorded on November 1, 2010 in Reception No. 201020155, of the Public Records of Eagle County, Colorado, for valuable consideration, the receipt and sufficiency of which is hereby acknowledged, does assign and transfer without recourse to CONDOR ikRTIC SA, a Panama corporation, whose address is Swiss Bank Building, 2nd Floor, East 53` Street, Marbella, Panama City, Republic of Panama, the above - described mortgage and indebtedness secured by it. DATED: I Condor Financial Corporate, ner and Holder 4 By: J Bonnie J. Hughey s ' resid t 3/15/2011 9 -3 -13 91gnat4a of W itness to Signature of Witness to Bonnie J. Hughey Bon ' J. Hughey i jc 4� P - Print or Type Name of Witness Print or Type Name of Witness State Of Florida County of Broward g The foregoing instrument was acknowledged before me this 0 7 day of 2011 by Bonnie J. Hughey, Vice President of Condor Financial Corporation, a Florida co oration, on behalf of the corporation. She is personally known to me or has produced E&Ai 04 I - v"" LtC-- (type of identification) as identification. NOTAAY PUBLIC, STATE OF FLORIDA Print, Type or Stamp Commissioned of Notary Public NOTARY P><WC- STAFF Of MR'DA Gary P Maurer Commission # DD861450 .,,,,. . Expires: FEB. 20,200 BONDO T ATS.wncBONDINGCO. 3/15/2011 9 -3 -14 EAGLE COUNTY, CO 201103503 TEAK : J5IMONTON 3 0225G =17PM 02/22/201 REC. $21.00 DOC: $ THIS INSTRUMENT PREPARED BY AND RETURN TO: Daniel J. Newman, Esquire P.O. Box 129 Tarpon Springs, Florida 34688 -0129 ASSI GNMENT OF MORTGAGE AND INDEBTEDNESS The undersigned owner and holder of a purchase money mortgage on that certain property described as: CONDOMINIUM UNIT A -5, and PARKING UNIT AP -25, BUILDING A, NORTHWOODS CONDOMINIUMS, according to the Condominium Map thereof recorded December 23, 1975 in the records of the Clerk and Recorder of Eagle County, Colorado, in Book 243, at Page 811, of such records and as defined in the Condominium Declaration recorded December 23, 1975 in Book 243 at Page 810, of such records; subject to the terms, conditions and provisions contained in said Declaration. Parcel ID Number: 2101 - 081 -11 -005 Street address of the Property: 600 Vail Drive #A5, Vail, Colorado. and of the indebtedness secured by it made by PARPOLCONDOR PROPERTIES, LLC, a Florida limited liability corporation, to PACIFIC CONDOR, INC., a Florida corporation, securing $1,200,000.00 dated September 2010 which was recorded on November 1, 2010 in Reception No. 201020155, of the Public Records of Eagle County, Colorado, for valuable consideration, the receipt and sufficiency of which is hereby acknowledged, does assign and transfer without recourse to M & O Treuhand AG, Trustee for the Pilot Trust, a trust created under Liechtenstein law, whose address is Eschner Strasse 93, 9487 Bendern, Liechtenstein, the above - described mortgage and indebtedness secured by it. DATED: ��Q` Condo ti SA, O er and Holder Die Echtheit der U nlarschrift der Fray Eike LENHErRRTOEDTLi, DUXVlen 5, B ' R FL- -9494 Schaarl, Elk err -Toedt i, as its President . < . Wird 'mot i bCSta Nrstl. Liectltenstein. Landgerichtskan?ivi 3/15/201 Vadulz daP lL 9 -3 -15 Jrkundspe�san Signature of Witness to i ature of Witness to Elke Len Elke Lenherr - Toedtli )kerr- Toedtli Print or Type Name of Witness Print or Type Name of Witness Rmor 2nimpla - 1, (Name of officer taking acknowledgment), (official title of officer taking acknowledgment) certify that Elke LenhT- Toedtli (Name of attesting official) personally carne before me this day and acknowledged that she is the President (Title of attesting official) of Condor Artic SA., a Panama corporation, and that by authority duly given and as the act of the corporation, the foregoing instrument was signed in its name by its president Witness my hand and official seal, this the day of (Month) (Year) Signature of officer taking acknowledgment Printed Name: Official Title of Officer taking acknowledgment 3/15/2011 9 -3 -16 DISS STK State of California t Secretary of State � - tApMM Domestic Stock Corporation Certificate of Dissolution There is no fee for filing a Certificate of Dissolution. IMPORTANT— Read instructions before completing this form. This Space For Filing Use Only Cot'porate Naive (Enter the name of the domestic stock corporation exactly as it is of record with the California Secretary of State.) 1. Name of corporation Pacific Condor, Inc. Required Statements (The following statements are required by statute and should not be altered.) 2. A final franchise tax return, as described by California Revenue and Taxation Code section 23332, has been or will be filed with the California Franchise Tax Board, as required under the California Revenue and Taxation Code, Division 2, Part 10.2 (commencing with Section 18401). The corpora#ion has been completely wound up and is dissolved. Debts & Liabilities (Check the applicable statement. Note: Only one box may be checked -) 3. ® The corporation's known debts and liabilities have been actually paid. Q The corporation's known debts and liabilities have been paid as far as its assets permitted. 0 The corporation's known debts and liabilities have been adequately provided for by their assumption and the name and address of the assumer is 0 The corporation's known debts and liabilities have been adequately provided for as far as its assets permitted. (Specify in an attachment to this certificate (incorporated herein by this reference) the provision made and the address of the corporation, person or . governmental agency that has assumed or guaranteed the payment, or the name and address of the depositary with which deposit has been made or other information necessary to enable creditors or others to whom payment is to be made to appear and claim payment.) 0 The corporation never incurred any known debts or liabilities. Assets (Check the applicable statement. Note: Only one box may be checked.) 4. The known assets have been distributed to the persons entitled thereto. The corporation never acquired any known assets. Election (Check the "YES" or "NO" box, as applicable. Note: if the "NO" box is checked, a Certificate of Election to Wind Up and Dissolve pursuant to Corporations Code section 1901 must be filed prior to or together with this Certificate of Dissolution.) 5. The election to dissolve was made by the vote of all the outstanding shares. YES E] NO Verification 8r Execution (Ir additional signature space is necessary, the dated signature(s) with verifications) maybe made on an attachment to this certificate. Any attachments to this certificate are incorporated herein by this reference.) 6. The undersigned constitute(s) the sole director or a majority of the directors now in office. 1 declare under penalty of perjury under the laws of the State of California that the matters set forth in this certificate are true and correct of my own knowledge. FebrusAy 1, 2011 D Elke Lenherr- Toedtli Signa irector Type or Print Name of Director Signature of Director Type or Print Name of Director Signature of Director '' - '= 0 l l Type or Print Name of Director DIE SS STK (REV 12120 10) APPROVED BY SECRETARY OF STATE DANIEL J. NIeVVMAN P.A. ATTORNEYS AT LAw P.O. Box 129. Tarpon Springs, FL 34688 -0129 [727] 938 -0055 [727] 938 -9077 TRII Free[877] 908 -9749 dnewman42 4am aba .rr.com Certified Mail -Return Receipt Requested. _,.,... Certified Mail No.: 7010 0290 0000 5710 3621 February 15, 2411 Secretary Of State Document Filing Support Unit 150011 to Street 3rd Floor Sacramento, CA 95 814 Re: Pacific Condor, Inc. Domestic Stock Corporation Certificate Of Dissolution Dear Sir or Madame: Enclosed please find an original Domestic Stock Corporation Certificate Of Dissolution together with two additional copies which we are submitting on behalf of our client, Pacific Condor, Inc. Would you please file the same and certify the two additional copies and return the same in the enclosed self addressed stamped envelope. Thank you for your attention to this matter. Sincerely, Daniel J. Newman DJN /dp Enclosures Cc: Bonnie J. Hughey Elke Lenherr- Toedtli 3/ l5 /201 1 9 -3- l8 G OD 5VE FLORIDA DEPARTMENT OF STATE Division of Corporations July 26, 2010 DANIEL L. NEWMAN, P.A. PO BOX 129 TARPON SPRINGS, FL 34688 -0129 The Articles of Organization for PARPOLCONDOR PROPERTIES, LLC were filed on July 26, 2010, and assigned document number L10000078322. Please refer to this number whenever corresponding with this office. The certification you requested is enclosed. A limited liability annual report/uniform business report will be due this office between January 1 and May 1 of the year following the calendar year of the file date. A Federal Employer Identification (FEI) number may be required before this report can be filed. Please apply NOW with the Internal Revenue Service by calling 1 -800- 829 -4933 and requesting form SS -4. Please be aware if the limited liability company address changes, it is the responsibility of the limited liability to notify this office. Should you have any questions regarding this matter, please contact this office at the address given below. Neysa Culligan Regulatory Specialist 11 Registration /Qualification Section Division of Corporations Letter Number: 31OA00018019 vets - unbiz.org Division of Corporations - P.O`) BOX 6327 - Tallahassee, Florida 32314 � 'Vr'"Ly' "V'G'SV�"V "ICJ V V V 'V "V�"�V�"Vk"N1 V U V Vu'V U "V V V�'V U�'V "L•l�'U V'� •• o•o�� •• o„o < �;. o,; o• c�• o� c .c�•o'c.......p.o...... � � ��� � • . � r�31 � sLC r nr�rr r nrnr � ric?!(�R�ntr - a a h�� � �. h(��t���R�n�_ ti " tr �C xnk 1 l A ct *tat -C- C tba 1 R C• �- MA db I certify from the records of this office that PARPOLCONDOR PROPERTIES, jVc LLC, is a limited liability company organized •- of - o Florida, filed on July 26, 2010. jUC c - •. .- • company 11111 � QC S �-C �s� sac �c j �-C I further certify that said company has paid all fees due this office through O N December 31, 201 and its status is active. Gi ven un d er hand and the � G reat Sea] of the State of Florida a t T C a pital , Dawn K . Roberts � - a 22 (01-07) Secreta o Sta = �''T`'cg�m 11MU�U • • • • ! n r r UUw� • r ^ rte ^rmUr�yUwxUU� ta te 4N. 11C'�1I # lR'�ll • rigid! # l R - � IG �"� r 1 • t b. ... I certify the attached is a true and correct copy of the Articles of Organization of PARPOLCONDOR PROPERTIES, LLC, a limited liability company organized under the laws of the state of Florida, filed on July 26, 201 as shown by the �•C fi rec ords o f o ffice. The document number of this limited liability company is Li 0000078322. dDI .4w j W, 1 IA 4D 0 �flC �-C S Z �C 'c - • Ho the 411, Gr eat . • - of ... at Tallahassee, the Capital, this the Twenty-sixth day of July, 201 M E awn K. Roberts iu f�S C S r S ecretary Sta �•C � �t�"��►7u"�V�Vrr� •Vr-„��"V�"U• �.L•Jr„�vVr:�����J�yVrra'V• �-��Ur� • • U �'��"l•Jr�Uz''U +Vr --'' _ n rn n n n n n n awn ,n�W nNW n Met 1IFMI n � FILED ARTICLES OF ORGANIZATION 10 JUL 26 PM 2 OF PARPOLCONDOR PROPERTIES, LLC t„{ I ti;,'r STATE A Florida Limited Liability Company I A L 44 SSEE, FLORIDA 1, the undersigned, certify that I hereby organize for the purpose of becoming a Limited Liability Company under the laws of the State of Florida, providing for the formation, rights, privileges, and immunities of a Limited Liability Company. I further declare that the following Articles shall serve as the Articles of Organization and authority for the conduct of business of a Limited Liability Company (the "Company "). ARTICLE I Name The name of the Company shall be PARPOLCONDOR PROPERTIES, L.L.C. ARTICLE II Address The mailing address and street address of the principal office of the Company is: 1421 Monroe Street, Hollywood, FL 33020. ARTICLE III Registered Agent, Registered Office & Registered .Agent's Signature The address of the initial registered office of the Company is 1421 Monroe Street, Hollywood, FL 33020, and the name of the company's initial registered agent at that address is Bonnie J. Hughey. Having been named as registered agent and to accept service of process for the above - stated Limited Liability Company at the place designated in this certificate, I hereby accept the appointment as Registered Agent and agree to act in this capacity. I further agree to comply with the provisions of all statutes relating to the proper and complete performance of my duties, and I am familiar with and accept the obligations of my position as registered agent as provided in Chapter 608, F.S Registered A n ign re Page, _; Pages 9 -3 -22 FILED 14 JUL 26 P14 2. 2 1 I ARY OF STATE Manager ARTICLE IV +ALLAHASSEE, FLORIDA Management of the Company is reserved to its Manager. The name and address of the Manager is Bonnie J. Hughey, 1421Monroe Street, Hollywood, FL 33020. ARTICLE V Membership Restrictions Members shall have the right to admit new members by unanimous consent. Contributions required of new members shall be determined as of the time of admission to the Company. A member's interest in the Company may not be sod or otherwise transferred except with unanimous written consent of all members. On the death, retirement, resignation, expulsion, bankruptcy, or dissolution of a member,. or the occurrence of any other event that terminates the continued membership of a member in the Company, the remaining members shall have the right to continue the business on unanimous consent of the remaining members. ARTICLE VIII Duration The Company shall exist until dissolved in a manner provided by law, or as provided in the regulations adopted by the members. THE UNDERSIGNED, being the original member of the Company certifies that in accordance with section 608.408(3), Florida Statues, the execution of this document constitutes an affirmation under the penalties of perjury that the facts stated herein are true and that this instrument constitutes the proposed Articles of Organization of Condor Properties, L.L.C. Executed by the undersigned at Hollywood, Florida on 2010. M &O Treuhand AG, as Trustee of Pilot Trust, a Trust established under Liecht te' Law on 12 July 1990 by: Bonnie J. H45velyl its aVthoriQ representative Pa gf /,;/ �13 Pages 9 -3 -23 ITL1 Oil VAIL TOWN COUNCIL AGENDA MEMO MEETING DATE: March 15, 2011 ITEM /TOPIC: Appoint three members to the Art in Public Places (AIPP), two members to the Design Review Board (DRB) and three members to the Planning and Environmental Commission (PEC). PRESENTER(S): Pam Brandmeyer ACTION REQUESTED OF COUNCIL: The Council interviewed all interested parties at the work session and the Council needs to appoint three members to the AIPP for three year terms; two members to the DRB for two year terms and three members to the PEC for two year terms at the evening meeting. Please note that Susan Frampton, if reappointed, can serve two of the three year term on the AIPP due to term limits. BACKGROUND: The town received ten letters of interest for the open positions on the AIPP, DRB and PEC as follows (incumbent board members are asterisked): AIPP: Cookie Flaum* Susan Frampton* (can only serve 2 years out of the 3 year term) Allison Krausen Kathy Langenwalter* DRB: Tom DuBois* Andrew Forstl Brian Gillette* PEC: Luke Cartin* Pam Hopkins Michael Kurz* STAFF RECOMMENDATION: Please appoint three members to the AIPP; two members to the DRB; and three members to the PEC at the evening meeting. ATTACHMENTS: Memo and Attachments for AIPP, DRB and PEC appointments 031511 3/15/2011 MEMORANDUM TO: Town Council FROM: Lorelei Donaldson DATE: March 15, 2011 SUBJECT: Appointments to the Art in Public Places (AIPP), Design Review Board (DRB) and Planning and Environmental Commission (PEC) There are currently three (3) vacancies on the AIPP, two (2) vacancies on the DRB; and three (3) vacancies on the PEC. The Council needs to interview the applicants at the work session and then make the appropriate appointments to the board at the evening meeting. AIPP: The Town received one (4) applications for the AIPP vacancies. The Council shall interview these applicants at the work session and then appoint three applicants to the AIPP at the evening meeting. Incumbents have an asterisk by their name. The applicants are: Cookie Flaum* Susan Frampton* Allison Krausen Kathy Langenwalter* (Please note Susan Frampton may only serve an additional 2 year term out of a 3 -year appointment.) I have enclosed an attendance summary for your review and use. DRB: The Town received three (3) applications for the DRB vacancies. The Council shall interview these applicants at the work session and then appoint two applicants to the DRB at the evening meeting. Incumbents have an asterisk by their name. The applicants are: Tom Du Bois* Andrew Forstl Brian Gillette* I have enclosed an attendance summary for your review and use. PEC: The Town received three (3) applications for the PEC vacancies. The Council shall interview each applicant at the work session and then appoint three applicants to the PEC at the evening meeting. Incumbents have an asterisk by their name. The applicants are as follows: 3/15/2011 10 -1 -1 i i i i i i Luke Cartin* Pam Hopkins Michael Kurz* I have enclosed an attendance summary for your review and use. RECOMMENDATION: Appoint a total of three members to the AIPP, two members to the DRB and three members to the PEC. 3/15/2011 10 -1 -2 i i i I 3/15/2011 10 -1 -3 i i Lorelei Donaldson I From: Cookie Flaum <cflaum @slifer.net> Sent: Tuesday, March 01, 20112:37 PM To: Lorelei Donaldson f Cc: Moll E and Molly PP Subject: Letter of Interest AIPP Board i i I February 28, 2011 i Town of Vail Town Council 75 South Frontage Rd W Vail CO 81 657 Dear Members, I � I am currently n the AIPP Board and m resent term is ending. I would like to continue for Y m g another term, if approved. The AIPP Board has helped to bring some amazing pieces of art to Vail. I have heard on several occasions from visitors how much they enjoy the art and how impressed they are of the recognized artists in both our temporary and permanent collection. The Town Council in its requirement for developers to include art in their projects was a brilliant idea. In doing so, the town has evolved into not only a world class ski resort but also into a town that appreciates and recognizes the arts. Today people from all over the world enjoy our art in both the winter and summer. Their comments are only positive. The AIPP Board has several projects in the works that I would like to see through, if approved. Thank you for your time in considering me. Yours truly, Cookie Flaum 3/15/2011 10- 1 -4 I f I Lorelei Donaldson From: Susan Frampton <sframpton @ewpartners.com> Sent: Sunday, February 27, 20115:57 PM To: Lorelei Donaldson Subject: AIPP board application i I would very much like to serve one more term of two years on the Art in Public Places Board. During the six years that I have been a part of this organization I have seen it grow in its contributions to the town of Vail. I believe that AIPP plays a strong role in assuring that our community remains a wonderful place for both guests and residents. Art is a critical component of a successful streetscape and is often more important than the buildings alone. Hiring Molly Eppard as director of Art in Public Places was definitely a step in the right direction. We have so many exciting projects that we are working on and I would love to see some of them completed. Thank you so much for considering my application. Susan Frampton Sent from iPad 1 3/15/2011 10 -1 -5 Allison S Krausen 710 West Lionshead Circle, Suite A* Vail, Colorado 81607 Phone: 9704712803 • E -Mail: allison @khwebb.com February 24. 2011 l l Lorelei Donaldson "Town Clerk c 1 Town of Vail 75 South Frontage Road Vail, Colorado 81657 Dear NIs_ Donaldson. The purpose of this letter is to convey my sincere interest in joining the Art in Public Places (AIPP) Board. Together with my husband, Kyle Webb, I am a Town of Vail property owner who believes that quality works of art located throughout our Town enhance the public environment for residents and visitors alike. Cultural capital is critical to our community's j excellence and it would be my goal to utilize my educational, professional, and non - profit leadership experience as a member of the AIPP Board. I graduated cum laude from Princeton University with a Bachelor of Arts in East Asian Studies and a certificate in Dance. As part of my undergraduate coursework, I took studio courses in painting and architecture, and lecture courses in art history and film. My thesis work focused on contemporary Chinese multi -media installation art, and I spent a considerable amount of time traveling throughout the United States, Mainland China, and Hong Kong interviewing living artists about their art and its relationship to their government and community. From that research, I determined that the future of art in China was critically tied to the Chinese people's ability to form a philanthropic community to replace the government's diminishing support for the arts. And as an American, I dedicated myself to participating in and working to sustain my own country's culture of philanthropy. a Though technically not - for - profit, in order to be sustainable, cultural organizations must operate in accordance with basic business principals. Having worked in Community Banking in lending and workouts with Millennium Bank and Colorado Capital Bank, I have financial skills to contribute to the AIPP Board and the ability to utilize a business lens for making decisions. Furthermore, I have existing personal and working relationships with local developers, which could be helpful in fulfilling the AIPP Board's goal to have public art integrated into new developments. This would involve an education as to how cultural capital supports and improves property values through the quality of experience it provides. Since moving to the Vail Valley, I have participated as a member of the Bravo! Vail Valley Music Festival's Bach on the g 4 Rocks Board and served on the Executive Committee of the Board of the Vail Symposium as Treasurer. Both roles I chose based on my belief that the cultural programs each organization produces add to the richness and sophistication of our community in ways that match the excellence of our resort amenities and experience. Similarly, the AIPP collection, installations, and programs should continue to create an aesthetic experience that balances our spectacular landscape. An avid art collector who enjoys living with art in my home, I also appreciate living with art in my uonnnunity. Combined with this personal passion, I hope to have an opportunity to leverage my background, skills, and experience to preserve and improve the TovN n of Vail's Art in Public Places Program as a member of the Board. Thank you for your consideration. Sincerely, Allison S. Krausen 3/15/2011 10 -1 -6 a r peel /langenwalter architects, I.I.c. david m. peel, a.i.a. kathy langenwalter 2588 arosa drive p.o. box 1202 I vail, co 81658 970 - 476 -4506 970 - 476 -4572 fax i February 23, 2011 i G f Vail Town Council Members Town of Vail 75 South Frontage Road Vail, CO 81657 Attn: Lorelei Donaldson Dear Council Members; I am currently a member of the Art in Public Places Board and would like to continue serving on this board for another term. The board is looking forward to the relocation of the Moroles sculpture this year as well as many other interesting and challenging projects in the future. I would appreciate the opportunity to see these through as a board member. Thank you for your consideration. Yours truly, Kathy Langenwalter 3/15/2011 x 10 -1 -7 Art in Public Places Board Attendance Date Doe Browning Cookie Flaum Susan Frampton Pam Hopkins Kathy Langenwalter Jennifer Mason Monica Mattingly Bill Rey 4/5/2010 No quorum for this meeting 5/3/2010 Absent Absent Absent 6/7/2010 Absent 7/12/2010 No quorum for this meeting 8/2/2010 Absent Absent 9/13/2010 Absent Absent Absent 10/4/2010 Absent Absent Absent 11/1/2010 Absent 12/6/2010 1/3/2011 Absent Absent Absent Absent 2/7/2011 Absent Absent 3/7/2011 Absent 3/15/2011 10 -1 -8 c I i i i i I i I i i l 3/15/2011 10 -1 -9 February 28, 2011 Thomas R Du Bois Town Council Town of Vail 75 S. Frontage Road Vail, CO 81657 Dear Town Council, I would like to be considered for re- appointment to another tem on the Design Review Board. I have been a resident of Vail for nearly 11 years and am a licensed architect, owning and managing my own architectural firm for the past 8 years, with offices in East Vail. I have found my first two terms on the Design Review Board to be very exciting and rewarding and feel my experience has been very beneficial to the Town in preserving, maintaining and enhancing the quality of the built environment in accordance with the goals of the Town of Vail's ordinances in f 4 general and the various Design Review Guidelines in particular. j I would very much like to continue on with the current Design Review Board members as we have j developed a very good rapport with one another and even though we may offer a diversity of opinion, we all share in the same vision for the Town. i i Thank you for your consideration. � Sincerely, Thomas R. Du Bois PO Box 4118 tell- 970477 -1969 Vad, CO 81658 ttdubois@attnet 3/15/2011 10 -1 -10 i � I i Andrew Forstl I 2714 Larkspur Lane s I Vail, CO 81657 February 25, 2011 I { i r Town of Vail c/o Vail Town Council 75 S. Frontage Road W. i Vail Co. 81657 Dear Vail Town Council, I am writing to express my sincere interest in applying for any openings that may exist on the Vail Design and Review Board. After meeting with the Board and shadowing their duties, I feel that I would be a valuable asset, contributing to the good of our community. Growing up as the son of an architect, my interest in design and building began at a young age. I have worked in the real estate, construction and design community for the past eight years and feel that I have a good understanding of Vail's design standards. I am fully committed to raising my young family here in Vail and would like to keep our community as charming and vibrant as it was in the early 1980's when I first fell in love with the town. I feel that we will be facing many challenges in the years to come. We will need to strike a balance between the original reasons for our town's success while paying attention to future trends. I look forward to the next step and would greatly appreciate the opportunity to serve our community! Please call me if you need anything. Sincerely, Andrew Forstl 3/15/2011 10- 1 - 11 ANDREW R. FORSTL 2714 Larkspur Lane, Vail CO 81657 (w) 970476 -2121 (c) 303 -507 -3560 corporateedge @msn.com Employment THE DAVOS GROUP PARTNER/ BROKER Vail, CO January 2003 - Present ` Founded and operated a boutique residential real estate firm in the Vail Valley Assisted buyers and sellers in the real estate process from conception to completion, drafting contracts and negotiating terms and conditions Achieved success at all levels of sales, from first -time home buyer to the multi - million dollar investor Worked closely with banks/lenders to ensure clients' needs were met Worked with Town Planning and Zoning departments and architects to advise clients on design and feasibility of development opportunities Developed several rental properties in the Vail Valley, negotiating leases and terms for clients STRATTON FLATS LLC SALES AND MARKETING MANAGER Gypsum, CO May 2007- August 2010 Managed all sales and marketing efforts for Stratton Flats, an Eagle County affordable housing project Worked with the Town of Gypsum during the entitlement process Worked with developer and county to design and build Met with county commissioners and director of housing on a monthly basis during the design process Managed clients from contract inception to closing of home CORPORATE EDGE EXECUTIVE RECRUITING FOUNDER / OWNER/ RECRUITER Morrison, CO September 1996 - 2003 Recruited executive sales and engineering candidates for national telecommunications and IT companies Placed candidates at all levels from Account Executive to Vice President using direct cold calling tactics Worked directly with Senior Sales Executives to build first national sales team for Qwest Communications Work directly with Worked ec th senior management as a "hired fill ed to Y g � specialty positions Negotiated salaries and options for all candidates MFS INTELENET COMPANIES ACCOUNT MANAGER Denver, CO April 1996 - August 1996 Outside sales to medium and large businesses Provided consolidated local and long distance services Created programs for efficient communications management Established one point of contact for all of client's communication needs Focused on the legal market 3/15/2011 10 -1 -12 QWEST COMMUNICATIONS ACCOUNT EXECUTIVE Denver, CO February 1995 - April 1996 Focused on large business accounts Created networking systems for all telecommunications needs Provided on -site training for senior management Developed long -term sales management goals Cultivated and expanded client database Focused on the legal market Account Executive of the Year 1995 MVP for three consecutive months MCI TELECOMMUNICATIONS CORPORATION ACCOUNT EXECUTIVE Denver, CO January 1993 - January 1995 [9/93 - 1/95] Outside sales to large businesses Created programs individually tailored for each client Established and maintained long -term business relationships Provided estimates, scheduling, billing, budgets Managed junior sales representatives Attended MCI - sponsored training se minars and sales programs { TERRITORY SALES REPRESENTATIVE [1/93 - 8/93] Outside sales to small businesses Created programs for small businesses and operations Learned operations /management procedures of small businesses Established/updated /service /grew accounts Monthly workshops and sales seminars Achieved 150% sales quota for 5 consecutive months [4/93 - 8/93] I Education Colorado State University, Fort Collins, CO j December 1991 Bachelor of Arts, Business Economics Concentrations in Finance and Business Economics Minor in History i University College at Dublin, Dublin, Ireland Fall 1988 European Finance and Economics, Irish history and culture Certifications/Memberships State of Colorado Real Estate License (01/03) Vail Board of Realtors (01/03 to Present) Interests Skiing, Mountain Biking, Travel, Music and Family References available upon request 3/15/2011 10 -1 -13 GILLETTE i.LC CONSTRUCTION February 4, 2011 Lorelei Donaldson Vail Town Clerk 75 South Frontage Road Vail, Colorado 81657 I RE: DRB and PEC appointment term expirations ( Dear Lorelei Donaldson: I am writing to express my interest in retaining my seat on the Design Review Board. I have been a board member since May 2, 2007. Please find a brief description of my experience below: BRIAN GILLETTE graduated from the University of Colorado at Boulder with a Bachelor of Science degree in Business Administration in 1994. Gillette started with George Shaeffer Construction Company in 1995 as a carpenter. Quickly advancing to the position of site superintendent, Brian constructed a number of homes throughout the valley. Many close relationships with subcontractors and vendors were developed over these years. Gillette was serving in the capacity of both site superintendent and project manager by 2003, responsible for the buyout, budget management, scheduling, and quality control of each project. Gillette was chosen to head Shaeffer's preconstruction service efforts in 2003. He was responsible for their marketing, initial client contact and contract negotiation. Gillette worked closely with the various architects on estimating, value engineering, and job cost accounting. Additionally, Brian supervised staffing, information technology, insurance procurement, and other duties relating to Shaeffer's operations. Gillette left George Shaeffer in November 2006 to start Gillette Construction and is currently engaged in the construction of single family residences within the Town of Vail. Brian lives with his family in Vail, Colorado. I appreciate the Council's consideration. Sincerely, GILLETTE LLC 0— ?3 4 l A§t Brian Gillette Voice: (970) 390 -7981 brian_giiiene @gIDetteik.com cc: Warren Campbell POST OFFICE BOX 5821 970.390.7981 VAIL, COLORADO 81658 gillettellc.com 3/15/2011 10 -1 -14 Design Review Board Attendance, 2007 Meeting Date Attendee Pete Dunning Rollie K'esbo Tom DuBois Brian Gillette Libby Plante April 7, 2010 X X X X X April 21, 2010 X X X X X May 5, 2010 X X Absent X X May 19, 2010 X X X X X June 2, 2010 X X X X Absent June 16, 2010 Absent X X X departed 4:15 July 7, 2010 X X X X X July 21, 2010 Absent X X X X August 4, 2010 Absent X X X X August 18, 2010 Absent X X X X September 1, 2010 X X X X X September 15, 2010 X X X X X October 6, 2010 X X X X X October 20, 2010 X X X X X November 3, 2010 X X X X X November 17, 2010 X X X Absent X December 1, 2010 X X X X X December 15, 2010 X X X X X January 5, 2011 X X X X Absent January 19, 2011 X X X X X February 2, 2011 X X X X X February 16, 2011 X X X X X March 2, 2011 X X X X X March 16, 2011 Total Attended 19 23 22 22 20 Total Absent 4 0 1 1 2 Total Early Departure 0 0 0 0 1 C:1 Usersl ldonaldson\AppDatalLocalVMicrosoft \WindowslTemporary Internet Files \Content.Outlook\TSRG038L1DRB Attendance Table 10.xls 3/15,2011 10 -1 -15 i I i I 3/15/2011 10 -1 -16 i Luke Cartin 2782 Kinnickinnick Rd. Vail, Colorado 81657 r I February 25, 2011 I j To the Vail Town Council: I am expressing my interest in renewing my position on the Planning and Environmental Commission. I believe my input during my role as a PEC Commissioner has been beneficial for the town. I have been fair and transparent with my decisions, and I have recused myself on any potential conflicts of interest. I have used both my professional and personal experiences to help guide with environmental decisions. I have enjoyed serving m town and hope t be g Y P 0 reappointed. Please feel free to address any questions, comments or concerns to me via email ( lcartin (&yahoo.com or call me on my cell phone (970- 331 - 9804). It has been an honor serving on the PEC, and I hope to be reappointed. Thank you for your consideration, Luke Cartin 3/15/2011 10 -1 -17 09/02/2011 01:27 FAX 970 476 7491 SNOWDON AND HOPKINS ARCH 41 002 Architects, • Sn owdon s i 4 f f t March 1. 2011 i Lorelei Donaldson Vail Town Clerk 75 tioutlt Road Vail, (,olorado 81657 t , RL•: 1 C Application Ucar Lorelei. t I'Icasc accept this leper as my appliciltl()Il to apply tier a position on the PLC Board. 1 have wurkcd as a I'arMcr with Snowdon and 1- Akins Architects IQ the last thirty -I'01.11 yours. Our uflicc was located in the Village for twuuty -hive years. I was 01) the PF-C Iron, 1985 to 1989 and 1 at ;:un currently can the AIM' Board, of which I am term limited early next year. My resume is included with this letter. 1 was hwoNed it) the Vail's Master Planning arid and interested in heconling involved with next stagcs of Vail 's Re- developrltcnl. I have lived in tciwtl for the last 34 years, ivied my f.ullily and hsld a succcSSful arChileChlral practice. My heart is In Vatl and I know that I could Contribute to the future 01 Vail. I have cujuyed working on the All'1' Board fow the last seven years and sccirlt thG incivil5e in the number of prujc CM"pleted ova the last live years. We have also seen growth in the annual hud ct and the number of potenti;ll 111 lur the cutlling few years. I have eiljoyed learning rumv about an and sculpture and the new artists as we select them 1`01' new In•e�jects and silts. I would enjoy continuing to work with the 1hwn of Vail as a member ol ITIC hu;trd and hope to Scc even 1110re SUCCC.SSfUl renovation of tllc town. I'hank. you for YOUr Consideration. .e (� +' . k� Pamela W. I lopkins, AIA, LIED Al Silo wclon and I lopkins Architects. P.C. l 3/1500 I V0 Box 3340 • Vail, Culuraclu 816SR W IbtWne: 970- 476 -2201 • rax: 970 - 476 - 7491 Snow op A rchitects, i Pamela W. Hopkins, AIA, LEED AP Registered Architect, State of Colorado (61165) LEED Accredited Professional k Education Bachelor of Architecture, University of Colorado n Professional Experience i Partner in charge, Snowdon and Hopkins Architects, PC Eagle County's Continuum of Care Retirement Community 2011 Interior Renovation of Town of Vail Public Library, 2011 LEED Certified Silver Residence, Cordillera Ranch, 2010 Game Creek Club interior renovation, Vail Village location, 2010 Exterior Renovation of Diamond Building, Riverwalk, Edwards, 2009 Addition to the Gilpin County Public Library, 2009 1,000 sq.ft. Addition to the Eagle Public Library, 2008; 8,500 sq.ft.; construction did not proceed FirstBank of Vail and FirstBank of Avon; 2007 and 2009 Exterior and landscaping P� 9 Inn at Beaver Creek redevelopment, 2006 50,000 sq.ft., construction did not proceed Ski Club Vail redevelopment, Vail, Colorado, 2000 35,000 sq.ft. base of Vail Mountain, construction did not proceed Pinedale Public Library, Wyoming, 1998 (Consultant Architect) Consulted during design phase for Carney Architects Eagle Public Library, Eagle, Colorado, 1997 15,000 sq.ft. new library Avon Public Library, Avon, Colorado, 1995 15,000 sq.ft. new library Vail Mountain School Library Addition, Vail, Colorado, 1995 3,000 sq.ft. renovation and addition Vail Police Department and Municipal Complex, Vail, Colorado, 1994 (Consultant to Roth Sheppard Architects) Gilpin County Public Library, Colorado, 1995 5,000 sq.ft. new library Emerald Acres Office Complex, Avon, Colorado, 1995 45,000 sq.ft. eight building campus Garden of the Gods Hotel and Condominium, Vail, Colorado 30,000 sq.ft. renovation and addition Eugene Field Public Library, Denver, Colorado, 1993 t , (Consultant Architect) Consulted during design phase and interior layout for Roth Sheppard Architects 3/15/2011 PO Box 3340 • Vail, Colorado 81658 0 Phone: 970 - 476 -2201 • Fax: 970 - 476 -7491 10 -1 -19 3 Inn at Beaver Creek, Beaver Creek, Colorado i 55,000 sq.ft. Hotel at base of ski mountain I Flagstaff Public Library, Flagstaff, Arizona, 1987 E 35,000 sq.ft. new library Vail Public Library, Vail, Colorado, 1983 r 15,000 sq.ft. new library 65+ Custom Residences Associations American Institute of Architects Member, U.S. Green Building Council Eagle County Sustainability Advisory Board, 2011 Town of Vail Sustainability Advisory Committee, 2011 I Member, Town of Vail Waste Diversion & Recycling Advisory Committee, 2009 Member, Vail's Arts in Public Places Commission, 2004 -2012 Member, Planning and Environmental Commission, Town of Vail, 1985 -1989 Board of Trustees, Vail Mountain School, 1986 -2000 Member, Design Committee, Performance and Conference Center, Vail, CO Jury and Awards 1987 Jury, Biennial AIA/ALA National Design Competition 1985 AIA/ALA Award of Excellence - Vail Library 1984 AIA Western Mountain Region Award of Merit - Vail Library Publications The Vail Library, Solar Age, September 1985 The Vail Library, Process: Architecture (98), Passive and Low Energy Architecture, September 1991 i. City of Flagstaff /Coconino County Public Library, Arizona Libraries, September, 1987 City of Flagstaff /Coconino County Public Library, Architecture, October, 1988 Public Libraries, Travel Treasures of the West, Martin B. Rabkin, North American Press, November 1993 Professional Development Harvard University Executive Program — Public Libraries —1995; Harvard University Executive Program — Public Libraries — 2005 Papers authored. Sustainable Architecture and Green Design yy ' Y W F 3/15/2011 !, 10- 1 -20 i f I Lorelei Donaldson From: Michael Kurz <mkurz@kurzstrategic.com> Sent: Friday, February 25, 20119:59 AM To: Lorelei Donaldson Cc: Warren Campbell; George Ruther Subject: PEC Hey Lorelei - Please accept this correspondence as an indication of my desire to serve another term on the PEC. Over the past four years, I think I've made a significant contribution to the commission and the town's development and planning efforts and believe that I can continue to do so. Have a great day. Mk h" Kurz NIARCE E-40 Tnx3„ Boot 1944, %W.00 SIGN wo."03115 .Cd1N 1Y W M.klNtl�bMQkS.f:O!111 1 3/15/2011 10 -1 -21 PEC 2009 Attendance Table Meeting Date Bill Pierce David Viele Sarah Paladino Michael Kurz Henry Pratt Tyler Schneidman Luke Cartin John Rediker April 12, 2010 X X X X X Absent X n/a April 26, 2010 X Absent X X X X X n/a May 10, 2010 X X Absent X Absent X Absent n/a May 24, 2010 X X X X X Absent X n/a June 14, 2010 X departed 2:15 departed 2:15 X Absent arrived 1:08 departed 2:15 n/a June 28, 2010 Absent X Absent X X X X n/a departed after recusing from item #1, other July 12, 2010 X X Absent X items were tabled X X n/a July 26, 2010 X X Absent X X X X n/a Removed August 9, 2010 X X fromPEC X X Absent X n/a August 23, 2010 X Arrived 1:10 n/a X X X X n/a September 13, 2010 X Absent n/a X X X departed 2:10 X September 27, 2010 Absent X n/a X X Absent X X October 11, 2010 X X n/a Absent X X X X October 25, 2010 X X n/a X X arrived 1:03 Absent Absent November 8, 2010 X X n/a X Absent Absent X X November 22, 2010 X X n/a X Absent X X X December 13, 2010 X X n/a X X X X X December 27, 2010 Holiday Holiday n/a Holiday Holiday H ofiday Holiday Holida January 10, 2011 X X n/a X X X X X January 24, 2011 X X n/a Absent X X X X February 14, 2011 X X n/a X X Absent X X February 28, 2011 X X n/a X X X X X March 14, 2011 n/a March 28, 2011 n/a TOTAL ATTENDED 19 19 4 19 17 15 17 10 TOTAL ABSENT 2 2 4 2 4 6 2 1 TOTAL EARLY DEPARTURES 1 0 1 1 0 1 0 2 0 TOTAL LATE ARRIVAL 1 0 1 0 0 0 2 0 0 C:1 Usersl ldonaldsonl AppDatalLocallMicrosoftlWin Internet Files lContent.OutlooklTSRGO38L1PEC Attendance Table 10.xlsx 10 -1 -22 ITL1 Oil VAIL TOWN COUNCIL AGENDA MEMO MEETING DATE: March 15, 2011 ITEM /TOPIC: Construction contract approval for the Frontage Road Shoulder Widening Project PRESENTER(S): Gregg Barrie ACTION REQUESTED OF COUNCIL: Authorize the Town Manager to enter into a Construction Agreement with Columbine Hills Concrete, Inc. for the construction of the Frontage Road Shoulder Widening. BACKGROUND: The Frontage Road Shoulder Widening project will provide 6' wide paved shoulders to the Frontage Road from the east end of Ford Park through the East Vail Interchange. The Town recieved nine qualified bids for the work. The original bid included the work from Ford Park through the Bald Mountain Underpass. However, because the submitted bids were lower than anticipated, staff is recommending that the full lenght of the project be completed during the summer of 2011. The contractor has agreed to hold unit prices for the expanded work. STAFF RECOMMENDATION: Authorize the Town Manager to enter into a Construction Agreement with Columbine Hills Concrete, Inc. for the construction of the Frontage Road Shoulder Widening in an amount not to exceed $1,246,000 to include the widening from the east end of Ford Park through the East Vail Interchange. ATTACHMENTS: Frontage Road memorandum 3/15/2011 MEMORANDUM TO: Town Council FROM: Department of Public Works DATE: March 15, 2011 SUBJECT: Frontage Road Shoulder Widening — Ford Park to East Vail I. Background Phases I and II of the Frontage Road Shoulder Widening project were put out for public bid in early February. Public Works received nine qualified bids for the work, all well within budget due to revised construction methods and the highly competitive market. (This is discussed in more detail under Section II.) The Phase I work widens the Frontage Road between Ford Park and Bald Mountain Road to provide a six -foot paved shoulder in each direction. Phase II replaces the deteriorating path through the Bald Mountain Underpass with a sidewalk. The project was presented to the Town Council in December of 2010 with further discussions in January 2011. Phase III of the work, originally anticipated and tentatively budgeted for 2012, would complete the shoulder widening from Bald Mountain Road through the East Vail Interchange. II. Bids The nine bids received for this project ranged between $770,558 and $974,515 for the Base Bid. The lowest bidder was Columbine Hills Concrete, Inc. from Summit County. Columbine Hills has a good reputation and most recently performed the streetscape work for the Solaris project. This project was bid with a Base Bid and several Add /Alternates: Base Bid $770,558 Includes the shoulder widening from the east end of Ford Park to Aspen Lane as well as the widening and sidewalk work through the Bald Mountain Underpass. Add /Alternate 1 $ 97,892 Includes the shoulder widening across the front of Ford Park to provide the 6' shoulders in each direction, but is not related to parking. The decision to move forward with that work can be determined in the near future based on the larger Ford Park parking discussion. Add /Alternate 2 $ 274,406 This item was to explore the cost to provide a 10' paved shoulder on the north edge of the Frontage Road between Ford Park and the Public Works facility to provide 70 overflow parking spaces. This would provide the widened shoulder but also paved parking. Add /Alternate 3 $ 25,170 This item priced the replacement of deteriorated slope paving at the Bald Mountain Underpass. This work may be required if damaged further during construction. III. Additional Work The Phase III portion of this project provides widened shoulders from Bald Mountain Road through the East Vail Interchange (approx. 5,560 linear feet) and has been tentatively budgeted for construction in 2012. 3/15/2011 11 -I -I Because the submitted bids are significantly less than anticipated, staff is recommending that the full length of the project be competed this summer. Columbine Hills has agreed to hold the unit prices if awarded the additional work as a change order to the original project. The estimated total for this work is $ 450,000 based on the bid and estimated quantities for Phase III. Construction plans for Phase III will be complete by the end of the month so that a final project cost can be determined. IV. Construction Schedule • Ford Park to Vail Public Works April 18 — June 2 • Vail Public Works to Bald Mountain Road May 26 — June 26 • Bald Mountain Road to East Vail Exit July 6 —August 19 Accommodations will be made for the Special Events occurring through the summer including Spring Back to Vail, the High School graduation ceremonies at Ford Amphitheater, the Teva Mountain Games, Vail America Days and the numerous bike events. All work will be completed prior to Quizno's Pro Challenge Bike Race August 24 -25. V. Available Funding The current budgets for the Frontage Road widening are as follows: • $ 200,000 2010 Bald Mountain Underpass repairs (Phase II) • $ 2,275,000 2011 West end of Ford Park to Aspen Lane (Phase 1) • $ 1,150,000 2012 Bald Mountain Road through the East Vail Interchange (Phase III) The budgets were based on widening the road on each side to provide six -foot paved shoulders. Along the south edge, this required significant retaining walls and guardrail installation, and curb and gutter along the north edge. The revised construction method simply widens the road to the north and then shifts the roadway striping as needed, significantly reducing the required work. Also, the asphalt thickness was reduced from 6" to 4 ", a savings of over 1000 tons of asphalt. VI. Project Budget Construction $ 1,246,000 Construction Administration $ 30,000 Design Phase III $ 30,000 Materials Testing $ 25,000 Utility Relocation Phase 1 -III $ 125,000 Public Relations /Notifications $ 5,000 Contingency $ 150,000 Project Estimated Total $ 1,611,000 VII. Staff Recommendation Staff recommends awarding the project to Columbine Hills Concrete, Inc. in an amount not to exceed $ 1,246,000 to include: • Base Bid $ 770,558 • Add /Alt 3 $ 25,170 Slope paving at Bald Mt Underpass • Phase II I $ 450,000 (estimate) Complete the project to East Vail VIII. Action Requested by Council Authorize the Town Manager to enter into a contract with Columbine Hills Concrete, Inc. in an amount not to exceed $ 1,246,000 for the construction of the Frontage Road Shoulder Widening Project Phases I, II and III. 3/15/2011 11 -1 -2 ITL1 Oil VAIL TOWN COUNCIL AGENDA MEMO MEETING DATE: March 15, 2011 ITEM /TOPIC: Continuance of Second reading of Ordinance No. 15, Series of 2010, an ordinance amending Chapter 12 -6, Residential Districts, Vail Town Code, to establish the Vail Village Townhouse (VVT) District, and setting forth details in regard thereto. PRESENTER(S): Bill Gibson, Planner ACTION REQUESTED OF COUNCIL: The applicant is requesting that the Vail Town Council table the second reading of Ordinance No. 15, Series of 2010, to its May 3, 2011 public hearing. BACKGROUND: On October 5, 2010 the Vail Town Council approved the first reading of Ordinance No. 15, Series of 2010, by a vote of 5 -2 -0 (Rogers and Tjossem opposed). At subsequent public hearings, the Vail Town Council tabled the second reading to allow staff and the applicant time to gather additional information for the Council's review. Since those hearings, Staff has continued to collaborate with the applicant and the Town's consultant to establish a new zone district that allows for redevelopment yet preserves the existing character of the neighborhood. The applicant is requesting that the Vail Town Council table the second reading of Ordinance No. 15, Series of 2010, to its April 5, 2011 public hearing. STAFF RECOMMENDATION: Staff recommends the Vail Town Council table the second reading of Ordinance No. 15, Series of 2010, to its May 3, 2011 public hearing. 3/15/2011 ITL1 Oil VAIL TOWN COUNCIL AGENDA MEMO MEETING DATE: March 15, 2011 ITEM /TOPIC: Resolution 23, Series of 2010, a resolution amending Chapter VII, Vail Village Sub - Areas, East Gore Creek Sub -Area ( #6) to include recommendations related to a new Vail Village Townhouse (VVT) District, and setting forth details in regard thereto. PRESENTER(S): Bill Gibson, Planner ACTION REQUESTED OF COUNCIL: The applicant is requesting that the Vail Town Council table Resolution 23, Series of 2010, to its April 5, 2011 public hearing. STAFF RECOMMENDATION: Staff recommends the Vail Town Council tables Resolution No. 23, Series of 2010, to its April 5, 2011 public hearing. 3/15/2011