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HomeMy WebLinkAbout2016-0712 VLHA Meeting MinutesMinutes Vail Local Housing Authority (VLHA) July 12, 2016 at 3:00 PM Attending the meeting were members: Molly Murphy Steve Lindstrom Scott Ashburn Town staff attending the meeting: Alan Nazzaro George Ruther A quorum of VLHA Members being present, the meeting was called to order at 3:15 PM. I. Meeting Notice and Approval of minutes The Board considered the minutes sent from the VLHA Meeting held on 6/28/16. Molly Murphy moved to approve the minutes as submitted. Scott Ashburn seconded the motion. The motion passed unanimously. II. Update on Chamonix Neighborhood Development George Ruther informed the Board that the Chamonix Neighborhood development was moving forward. The prospective developer would be making a presentation at the next Town Council meeting with the revisions requested. Some key items discussed were: Town will self-finance the project to reduce interest costs for the developer The cash flow model will be used to reduce time funds are out before return No condominiums in project, just townhomes and larger units Duplexes have cost and size issues based on the height of the basements needed or being built on stilts. Alternative duplexes go free market or smaller units to sell without subsidy Reservation process with Valley Home Store The 30-day clock is ticking on the development proposal. Either we are going with this developer or not. There will be an incentive based or performance based compensation package for the developer. October 1, 2016 is the decision date for going forward . Decisions still need to be made. Town council wants a quality project with a wide price spread $200’s, $300’s, $400’s, and $500’s. Do we stay with 3% price cap or should it be tied to the objective? If the objective is to keep housing affordable, then reduce the cap. III. Housing Strategic Plan (HSP) It was decided that an Executive Summary would be good to add giving the highlights and pulling the information together. There was discussion of the “numbers” needed. The HSP identifies an 1100 unit deficit, if we average $100,000 investment per unit that equates to $110,000,000, which is a large number to throw at people. If that is a ten-year goal, then it equates to $10,000,000 per year invested from all sources. We need to give real life examples of how money will get spent. It was also discussed that we need a stream-lined process with funds behind it to get housing moving. A dedicated funding source is not the total answer. The decision-making process hampers progress. We need to let other do the work with a system set up to get results. We need to have the decision- making in the hands of those doing the job with bench marks and progress reviews. We need to describe the what and why of the goals: Over 100 units starts per year to reach over 1,000 units in ten years Currently have 715 deed-restricted units, more than double in ten years (1,715) Still need development with Town assistance, increased density, & partnerships Land purchases Risk averse deals The Board had a lengthy discussion regarding the Vision and Mission Statements for the HSP. It was agreed that there needs to be more description of what tying the Vision to what we want to accomplish. We need to include the who, what, when where and why in the Vision Statement. The mission Statement also should have certain elements, but be much shorter. The discussion led to the inclusion of the following in the two statements: Vision: What? Residents are able to afford to live in Vail Support local residents Fostering diverse infrastructure (housing types and locations) place that you can move around/up through diverse housing products through their working/living life cycle. Creating opportunities for residents to live/afford to live in Vail Sense of community based on a diverse …… Unique to “premier” Resort community Economic sustainability, acknowledge who we are-programs successful only when economic balance is achieved, no detriment to resort appeal/services Recruiting/sustaining quality employees, highest and best Consistency/focus long term-vision No problem is insurmountable Why? When the problem is solved, Vail is at a competitive advantage How? Solutions are inclusive/shared/partnerships Preserving and sustaining local housing (all do not go to VRBO/second homes?) Who? Developer, business community, Town government, Residents? Where? Vail Vision statements should be: Audacious Capitalizes on core competencies Future casting Inspiring Motivating Purpose-Driven Mission: Resulting in improved/sustained sense of (social) (balanced) community Successful/support of business community/workforce Vail remains/achieves competitive advantage, attracts a workforce that (results in a balanced community) (6 degrees of separation). What will people tolerate to live in Vail? (e.g. don’t want to have 6 snowboard buddy roommates..) Quality over quantity/recognize both From frontline worker to business owner….diversity makes a community (Capture somewhere: opportunities don’t exist the way they used to – barriers to entry, no adequate supply of affordable housing, spurs people to become entrepreneurs) Next Steps The Board discussed the need to have a rough draft to review for the next VLHA Meeting on July 28th. The draft would then go to TowN Council on August 2, 2016 for consideration. IV. Next Meeting The Next regularly scheduled VLHA Meeting will be held at 3:00 PM on August 23, 2016 in the Large Conference Room at the Community Development Office. There being no further business the meeting adjourned at 5:45 PM. Respectfully Submitted, ____________________ Housing Staff INTRODUCED, READ, ADOPTED AND APPROVED this ______ day of ___________________, 2016.