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HomeMy WebLinkAbout2015-1130 VLHA Meeting MinutesMinutes Vail Local Housing Authority (VLHA) November 30, 2015 at 3:00 PM Attending the meeting were members: Scott Ashburn Craig Cohn Steve Lindstrom Mary McDougall James Wilkins Absent: Town staff attending the meeting: Chris Neubecker George Ruther Nina Timm Steve Lindstrom called the meeting to order at 3:01. George Ruther let the VLHA know he will be making the same presentation to the Vail Town Council tomorrow, December 1, at approximately 2 pm. George’s presented his memo to Town Council. He added that the master plan does not preclude rental units and $2 million is included in the Town’s 2016 budget to install infrastructure in Spring 2016. Based on the analysis completed to date, the infrastructure sizing and location would not change significantly therefore installing the infrastructure while finalizing the development details is appropriate. Per the Planning and Environmental Commission there will be two enclosed parking spaces per unit plus storage. The schedule anticipates the Town Council authorizing a Request for Proposals for infrastructure and site access at their January 4, 2016, meeting and a contract being awarded in February or March. The Town Council has signed off on the land cost ($2.6 million) and the infrastructure costs ($2 million) not being recouped by the Town. It is anticipated the deed restriction will include a price appreciation cap. There has been some discussion about adding an income cap. George is proposing three development models to the Town Council. Town acts as developer Town hires a fee developer Town enters into a public/private partnership with a developer On December 15, the Town Council will be asked to provide direction on funding options, development approach and schedule. They will also be asked to provide direction on level of subsidy and the deed restriction. Alan Nazzaro will be presenting recommendations on subsidy models, price strategies and financing options. Chris Neubecker left the meeting. The VLHA asked if the Town will be comfortable with the anticipated subsidy levels to make the units affordable. They also suggested platting and selling off some of the duplex lots to increase the subsidy amounts. George acknowledged the hardest decisions have yet to be made and suggested the VLHA prepare a memo with their recommendations to send to the Town Council. He also recommended they attend the December 1 and 15 Town Council meetings. George left the meeting. The VLHA discussed their meeting with the business community. They will distribute questions to all invitees prior to the meeting. Hopefully the attendees will speak with their employees prior to attending. At the meeting, Steve will provide a two minute introduction and the rest of the time will be used for questions and answers. Steve let everyone know that the economic benefits study has been cancelled. A draft of the Peer Resort Comparison has been completed and Steve will send it out to everyone. There was a brief discussion about Lion’s Ridge Apartment development and the need to not get too far along with a developer at Chamonix before the terms are finalized. The Town should negotiate first to make sure their goals are achieved. The VLHA will prepare a memo to include in the Town Council packet for the January 5, 2016 meeting. The next meeting will be Tuesday, December 8 at 9:00 AM at the Evergreen Hotel. There being no further business the meeting adjourned at 5:10 PM. Respectfully Submitted, _____________________ Housing Staff INTRODUCED, READ, ADOPTED AND APPROVED this ______ day of ___________________, 2016.