HomeMy WebLinkAbout2017-10-24 VLHA Meeting Results Vail Local Housing Authority
TOWN OF VAIL Meeting Results
Tuesday, October 24, 2017
3:00 PM -5:00 PM
Town Council Chambers
75 South Frontage Road West, Vail, Colorado 81657
MEMBERS PRESENT MEMBERS ABSENT
Steve Lindstrom
Molly Morales
Mary McDougall
Francisco Meza
James Wilkins
Staff
George Ruther
Lynne Campbell
Greg Clifton
Kathleen Halloran
Patty McKenny
A quorum being present Lindstrom called the meeting to order at 3:00PM. James Wilkins arrived just
after meeting result vote.
The Board reviewed and approved meeting results from October 10, 2017.
MOTION: Morales SECOND: Meza VOTE: 4-0-1 (Wilkins absent for vote)
Ruther presented and reviewed Vail Local Housing Authority Resolution No. 4 Series of 2017, the Solar
Vail Development Agreement and future deed restrictions to be located at 501 North Frontage Road
West Vail.
McDougall asked if the additional funds were coming from the $500K in the 2018 budget. Per Clifton
2017 budget has 3.2 million and the budgeted $500K for 2018 is part of the Solar Vail funding. Funds
will not be released to Sonnenalp Properties unit a certificate of occupancy is received in late 2018.
Sonnenalp Properties has submitted a request for $500K funding through Eagle County Housing. Eagle
County Commissioners will make funding decision on October 25, 2017.
Wilkins questioned how any funding received from Eagle County effects Vail InDEED funding.
Ruther explained if the applicant or developer receives funds from other sources it will be deducted
from Vail funds.
The Board questioned the master deed restriction reference to "a" deed restriction vs. 65 deed
restrictions.
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Ruther stated the Solar Vail will be a master deed restriction, not condominiumized. If Sonnenalp
Properties wants to convert to condos they would have to go through the Town's development process.
McDougall motioned to approve Resolution 4, Series of 2017
MOTION: McDougall SECOND: Morales VOTE: 5-0
Staff discussed the Board's review to establish fair market rent values. Several deed restrictions
contain language indicating the Board is to set rates. The Board directed staff to bring this item back for
discussion with deed restriction examples.
Ruther and the Board discussed updating the Economic Value of the Town's Investment in Employee
Housing document by BBC Research & Consulting. This document was last updated March 29, 2012.
There is an opportunity to modify the document to include the economic impact of employee housing on
parking and transportation. There is a need to keep the document current if it is going to be relied on it
to make housing decisions.
The Board is interested in updating the Economic Value of the Town's Investment in Employee Housing
document and instructed staff to move forward. Staff will continue conversation with BBC to obtain a
scope of work and move forward with a year end goal.
Staff reminded the Board of Town Council's request for the Board to recommend changes to the annual
resale lottery process. Ruther explained today's process of point system based on longevity and
employment and the system has been in place for nearly 20 years.
Ruther suggested we may not want to put as much emphasis on longevity. Chamonix Vail was a
straight lottery with eligibility requirements and a lottery with applicants.
Lottery changes were suggested by the Board.
• open enrollment list see info ahead of time
• use data to establish what needs are
Per Ruther the Council is expecting a recommendation for lottery changes by year end.
The Board asked if Chamonix Vail will be a separate lottery. Yes per Ruther it will continue to be its
own lottery for now. It will likely be combined in the annual lottery process once all initial sales are
completed.
Board agreed to build a lottery similar to how Chamonix Vail was run and directed staff to write up
changes for a Town Council recommendation.
Staff and the Board discussed Housing long term funding and agreed it needs to be something that is
not subject to year to year approvals and changes.
Lindstrom asked what jurisdiction was moving to a 5% rental tax.
Clifton stated Crested Butte had implement a tax and also indicated a number of jurisdictions have
dedicated funding. Clifton and Kathleen Halloran are working together and will include the Board. The
2018 budget has language for next year however long term funding may need vote due to TABOR
laws. The Town needs a fund balance which will accumulate over time. Short of a ballot measure a
separate fund could be set for express targets-policy directives.
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Morales questioned how the Vail InDEED program will be successful without a funding source.
Per Clifton today there is nothing in budget for VLHA. Town of Vail Administration is looking to create a
fund with Council approval. The 2027 plan should have additional revenue source tax but this is subject
to TABOR law and vote.
Wilkins recommended Vail InDEED applicants to put financing contingency in purchase contract if they
are planning on funds from program.
Jackson Higgins a Vail InDEED applicant presented his viewpoint for his funding request. Higgins
countered the offered the Board had previously made and offered to place a price appreciation cap on
the unit. The Board will review his request during executive session.
McDougall motioned to move into executive session per C.R.S. §24-6-402(4)(a)(b)(e) - to discuss the
purchase, acquisition, lease, transfer, or sale of property interests; to receive legal advice on specific
legal questions; and to determine positions, develop a strategy and instruct negotiators, regarding:
submitted Vail InDEED applications.
MOTION: McDougall SECOND: Wilkins VOTE: 5-0
Wilkins motioned to close the executive session and reopen the regular meeting.
MOTION: Wilkins SECOND: Morales VOTE: 5-0
Actions from executive session were as follows:
The Board directed staff to make a counter offer to Higgins.
MOTION: Wilkins SECOND: Morales VOTE: 5-0
Wilkins motioned to adjourn the meeting.
MOTION: Wilkins SECOND: McDougall VOTE: 5-0
The meeting was adjourned at 5:00PM
Next Meeting — November 14, 2017
Future Agenda Items:
• Bi Annual VLHA Report
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