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HomeMy WebLinkAbout2016-0823 VLHA Meeting MinutesMinutes Vail Local Housing Authority (VLHA) August 23, 2016 at 1:30 PM Attending the meeting were members: Molly Murphy Mary McDougal Steve Lindstrom James Wilkins 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 1:35 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. James Wilkins seconded the motion. The motion passed unanimously. II. Update on Roost Property Due to time constraints of the presenter, the Board changed the order of the Agenda to allow the Roost Property Update to occur first. Consultant Dominick Mauriello gave a presentation on the Marriott Residence Inn project proposal for the Roost Inn site on North Frontage Road. The site is currently zoned for Public Accommodation and the developer is proposing to rezone it to an SDD to allow a variety of uses. The proposal is to develop two separate but attached buildings on the site. The western most building would have 170 hotel units with 113 Type III deed restricted employee housing rental units in the other. The EHUs would be mostly two-bedroom with some one-bedrooms in the mix. The development would include two levels of below grade parking accommodating 365 spaces. There would be one space per unit for the EHUs, .75 spaces per hotel unit, and 100 additional leased parking spaces to help generate cash flow for the project. There is also a theater space, meeting space and a gym on the hotel side. Some key facts include: Some NIMBY pushback from neighbors to the north due to six-story height No long-term impact on rental market in adjacent neighborhoods The construction should take 18 months The total square footage of the 170 hotel rooms is equal to that of the 113 rental units Plans are currently under review scheduled to go to PEC on 9/12 and Town Council by November. Even though the residential development helps reduce the risk on the hotel portion, especially with the added parking revenue, the project may still need public participation to cash flow. Concerns expressed by the VLHA included: Who manages the rentals? Noise attenuation should be as good as Lion’s Ridge Apartment Homes Whether there would be any income qualification for the rentals III. Fee in Lieu Update Staff gave a brief update regarding the status of the VLHA recommended changes to the Fee in lieu Policies. At their August 8th Meeting, the PEC recommended approval of the Fee in Lieu Ordinance No. 23 to Town Council as written. The Ordinance goes to Town Council on September 6, 2016 for first Reading and if it is approved, second reading should be on September 20th. III. Update on Housing Strategic Plan (HSP) Staff and the Board Chair gave an update on where things stand in the completion and adoption of the Housing 2027 Strategic plan. The main proposal is to allocate all $3.2 Million of the Fee in Lieu Fund towards a Housing Program Fund and request that Town Council add $500,000 of capital funds for 2017 to allow a total of $3.7 million to be used for the new Deed Restriction Purchase Program. The thinking is that if housing is indeed “infrastructure”, then it gets the program in line with other programs for annual capital allocations. This becomes the “means” for the housing program. The method for proceeding with implementation comes from: a new decision making structure Keeping decision making nimble Outside of the Town’s bureaucratic structure Must have accountability In this regard, it has been suggested from Town Council that the VLHA becomes the decision making Board for the Housing Program Fund. This would entail having an annual budget with audits and criteria for decision making. The idea is to utilize the housing authority as it was meant to be used under state statutes. The Council Member’s thoughts were: The terms of the members are staggered, The organization has credibility The members have a variety of expertise Consistency of purpose A smaller group with one focus Other methods that need to be initiated: Standardized contracts Zoning-related changes, e.g., housing overlay zone, CC3 VLHA will be the applicant and go through the Town’s zoning process The Plan goes before Town Council on September 6, 2016 in the evening for adoption. Conversations with five of the seven Members to date indicate a readiness on the part of Council to begin spending money on the housing problem. In the mean time VLHA and staff will be talking with bankers, title companies and real estate professionals to determine the barriers, if any, to a deed restriction purchase program. The main focus of the plan is to create and maintain community. It will be a living document, which changes with the market and community needs. The future will come down to two markets a deed restricted one and a non-deed restricted one. There has to be a paradigm shift away from EHUs to permanent resident housing. We will be creating a sub-market for deed restrictions, which have value as an inherent asset. Please get any comments back to George Ruther or Steve Lindstrom, ASAP. IV. Matterhorn Inn Condominiums Proposal Staff gave a brief background on the issue. The Matterhorn Condominiums burned down in 2104 and had to be rebuilt. The Insurance settlement was lower than needed, since it was discovered that the entire building foundation and super structure would have to be completely replaced. The circumstance left the HOA and the owners short of funds and now individual owners have to pay to finish their units. Some owners don’t have the resources necessary and banks won’t loan on unbuilt property. The HOA and a group of owners approached staff to see if the Town could help in some way. They sent a letter of proposal, outlining their situations and asking for outright purchase of some units by the Town, deed restriction purchases, or loans to owners in return for aggreements not to do short term rentals or sale to second home owners. They are asking for support from the VLHA as they approach the Town. The Board felt the request was premature and should be held in abeyance until after the Housing 2027 Strategic Plan is in place and the deed restriction purchase program in initiated. Next Meeting The Next regularly scheduled VLHA Meeting will be held at 3:00 PM on September 26, 2016 in the Large Conference Room at the Community Development Office. There being no further business the meeting adjourned at 3:45 PM. Respectfully Submitted, ____________________ Housing Staff INTRODUCED, READ, ADOPTED AND APPROVED this ______ day of ___________________, 2016.