HomeMy WebLinkAbout2014-0804 Meeting Minutes
Minutes
Vail Local Housing Authority (VLHA)
August 4, 2014 at 4:00 PM
Attending the meeting were Board members:Scott Ashburn
Steve Lindstrom
Mary McDougall
James Wilkins
Absent:Craig Cohn
Staff attending the meeting:Nina Timm
George Ruther
Steve Lindstrom called the meeting to order at 4:05 PM.
In order to end as early as possible minutes from the June 5, 2014 meeting and swearing in of new member James Wilkins will take place at the next meeting.
George Ruther provided the members with an update on the Timber Ridge redevelopment. On August 5, 2014 the Vail Town Council will be considering amendments to the proposed ground lease
and the development agreement. Amendments to the ground lease include a 50-year term rather than the previously proposed 35-year term as well as an option to purchase the ground for
$5 million anytime during the first ten-years of the lease. For the purpose of a property tax exemption the operating agreement contemplates the Housing Authority remaining a member
of the redevelopment corporation during the lease period as well as following sale of the land to the redevelopment corporation, so long as the corporation maintains its sole purpose.
Following the Town Council meeting, George Ruther and Matt Mire, Town Attorney, will be at the next Housing Authority meeting to present the Operating Agreement to the members and provide
an overview of what its implications are for the Housing Authority.
The next meeting was set for Monday, August 11, 2014 at 3:30 pm.
There being no further business the meeting adjourned at 4:35 PM.
Respectfully Submitted,
_____________________
Nina Timm
INTRODUCED, READ, ADOPTED AND APPROVED this ______ day of ___________________, 2014.
Vail Local Housing Authority1