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Home My WebLink About2018-05-08 VLHA Meeting Results Vail Local Housing Authority Agenda Tuesday, May 8, 2018 Regular Meeting 3:00 PM –5:00 PM Town Council Chambers 75 South Frontage RoadWest, Vail, Colorado 81657 MEMBERS PRESENTMEMBERS ABSENT Steve LindstromMary McDougall James Wilkins Molly Morales Francisco Meza Staff George Ruther Lynne Campbell A quorum being present Lindstrom called the meeting to order at 3:08PM. McDougall was absent from this meeting. Alsopresent at the meeting was Town Manager Greg Clifton. The Board reviewed and approved the April 20, 2018 meeting results as presented. The meeting date listed on the agenda stated April 10, 2018 which was incorrect. MOTION:WilkinsSECOND: MoralesVOTE:4-0 The Board reviewed and made motions to approve Resolutions 2-7, 9 and 10. Wilkins motionedto approve Resolution No. 2, Series 2018a Resolution Approving the Purchase of a Deed Restriction Interest in Property (Type III Deed Restriction) in the Town of Vail Legally Described as Vail Intermountain Dev. Sub., Block 9, Lot B Unit: A & ½ Interest in Common Parcel C, Eagle County, Colorado with a Physical Address of 2850 Basingdale Blvd. Unit A, Vail Colorado; Subject to Ratification by the Vail Town Council; and Setting Forth Details in Regard Thereto. MOTION: WILKINSSECOND:MORALESVOTE: 4-0 Wilkins motioned to approve Resolution No. 3, Series 2018 a Resolution Approving the Purchase of a Deed Restriction Interest in Property (Type III Deed Restriction) in the Town of Vail Legally Described as Vail Intermountain Dev. Sub., Block 9, Lot B Unit: B& ½ Interest in Common Parcel C, Eagle County, Colorado with a Physical Address of 2850 Basingdale Blvd. Unit B, Vail Colorado; Subject to Ratification by the Vail Town Council; and Setting Forth Details in Regard Thereto. MOTION: WILKINSSECOND:MORALESVOTE: 4-0 Page 1 Wilkins motioned to approve Resolution No. 4, Series 2018 a Resolution Approving the Purchase of a Deed Restriction Interest in Property (Type III Deed Restriction) in the Town of Vail Legally Described as Vail Intermountain Dev. Sub., Block 9, Lot AUnit: A & ½ Interest in Common Parcel C, Eagle County, Colorado with a Physical Address of 2860 Basingdale Blvd. Unit A, Vail Colorado; Subject to Ratification by the Vail Town Council; and Setting Forth Details in Regard Thereto. MOTION: WILKINSSECOND: MORALESVOTE: 4-0 Wilkins motioned to approve Resolution No. 5, Series 2018 a Resolution Approving the Purchase of a Deed Restriction Interest in Property (Type III Deed Restriction) in the Town of Vail Legally Described as Vail Intermountain Dev. Sub., Block 9, Lot AUnit: B& ½ Interest in Common Parcel C, Eagle County, Colorado with a Physical Address of 2860 Basingdale Blvd. Unit B, Vail Colorado; Subject to Ratification by the Vail Town Council; and Setting Forth Details in Regard Thereto. MOTION: WILKINSSECOND: MORALESVOTE: 4-0 Wilkins motionedto approve Resolution No. 6, Series 2018 a Resolution Approving the Purchase of a Deed RestrictionInterest in Property (Type III Deed Restriction) in the Town of Vail Legally Described as Innsbruck Condo Unit 7, Eagle County, Colorado with a Physical Address of 2783 KinnikinnickUnit 7, Vail Colorado; Subject to Ratification by the Vail Town Council;and Setting Forth Details in Regard Thereto. MOTION: WILKINSSECOND: MEZAVOTE: 4-0 Wilkins motioned to approve Resolution No. 7, Series 2018 a Resolution Approving the Purchase of a Deed Restriction Interest in Property (Type III Deed Restriction) in the Town of Vail Legally Described as Brooktree Townhouses Bldg.C Unit 115, Eagle County, Coloradowith a Physical Address of 980 Vail View Drive Unit 115C, Vail Colorado; Subject to Ratification by the Vail Town Council; and Setting Forth Details in Regard Thereto. MOTION: WILKINSSECOND: MORALESVOTE: 4-0 Wilkins motioned to approve Resolution No. 9, Series 2018 a Resolution Approving the Purchase of a Deed Restriction Interest in Property (Type III Deed Restriction) in the Town of Vail Legally Described as Altair Vail Inn Unit 210-A, Eagle County, Colorado with a Physical Address of 4192 Spruce Way Unit 210A, Vail Colorado; Subject to Ratification by the Vail Town Council; and Setting Forth Details in Regard Thereto. MOTION: WILKINSSECOND:MORALESVOTE: 4-0 Wilkins motioned to approve Resolution No. 10, Series 2018 a Resolution Approving the Purchase of a Deed Restriction Interest in Property (Type III Deed Restriction) in the Town of Vail Legally Described as Garmisch Townhouses Lot 15-B, Eagle County, Colorado with a Physical Address of 2308 Garmisch Drive Unit 15B, Vail Colorado; Subject to Ratification by the Vail Town Council; and Setting Forth Details in Regard Thereto. MOTION: WILKINSSECOND: MEZAVOTE: 4-0 Next up Ruther reviewed a draft memooutlining amendments to the lottery process and additional th lottery amendment for the May 15Town Council meeting. Ruther asked for the Board’s feedback. Goals are to amend process criteria to improve efficiency, predictability, etc. Page 5 of the memo provides a summary of the Town Council’s comment. Council stated simpler is better, recognition weight and tiered system needs updating, want to see change in family household size and continue to establish and maintain alist of prospective and interested homebuyers. We would still maintain who is interested to keep communication goingwith interested folks. Council supports a separate lottery process as homes become available. Page 2 Lindstrom asked for clarification on home type vs. home address. Ruther said the Town willstill require homebuyer class, a signed acknowledgement of intent around a deed restrictionand a prequalificationletter from lender.This allows for full understanding of what buyer is purchasing. What else is there coming up with a lottery process? Council did want one that does grant preference to certain categories of applicants. They didn’t want to see preference to prior lottery participation. Ruther referred the Board to recommendation on item #2on page 6 of the memo“If deemed important/relevant, how is this policy best implement? (i.e., purchase a deed restriction, allow multiple ownership, etc.).”If applicant ownstoday, they agree to deed restrict the existing home and continue to ownthe resale deed restriction. Ruther thinksthis needs further discussion. Council’s desire is to not just trade one deed for another rather than addunits. Is it an appropriate allocation of tax payer dollars to allow one person to double dip system and allow others only get one chanceto participate? Greg Clifton, Town Manageroffered comments on item 2. He has concernsabout someone buying into a subsidized unit and maintaining a free market or deed restriction. Does this create issues?He is concerned how this would look to others in the community. Clifton wants to discuss how to best structure this. He said didn’t hear at Town Council about owners continuing to own property after moving into a deed restriction. A deed restrictionsubject to the Town purchase of deed and then property sold within Xnumber of days. Owner would benefit from the sale of that deed restriction. Morales trying to differentiatethe lottery subsidized housing vs. Vail InDEED. Clifton said both programs are merging together. Difference is VLHA is purchasing restriction for a cost and VLHA now entering into a discussion of a Town built property. Clifton suggested to place deed on existing property and then sold. Vail InDEED is for free market homes. The lottery is for those properties for existing TOV deed restrictions. Wilkins said can’t have a Vail InDEED property and enter lottery cannot keepboth. Give time frame to sell Vail InDEED restriction, can’t have both. Lindstrom asked if this is anincentive to allow others to get into lottery. Clifton acknowledged potential lossof free market unit. Is there a way the Town has mechanism where both properties are deed restricted but the owner has to sell one to be in a Town subsidized home. Wilkins thinks we needto be prepared to discuss subsidizing.Council is going to have a hard time separating the two situations. What extent is the Town willing to subsidize someone who is interested in getting into the Town lottery? The Board discussed concerns and options for ability to deed restrict one home to enter a subsidized home. Lindstrom asked Ruther if Council was looking for recommendation of this piece, entering the lottery. Ruther replied yes. There was a great dealof discussion about this subject of multiple deed restrictions. He said Council wanted to review again with Bruno was present. Page 3 Wilkins recommendedsome language modification around item #2, deed restrict current residential property subject to Town Council approval or deed restrict prior to close not at time of application. Upon purchase and close then the deed restriction on the lottery unit will prevail. Ruther askednow what after applicant wins. Preserving and protecting existing dwelling units was the thought process the Town hadn’t pursued previously. Wilkins reiterated what is the Town’sdeed restriction goal. Councilman Moffetsaid “is purpose of the housing program to be sure people don’t double dip or preserve housing for locals”. If former then need to think about it if the later think about getting more restrictions. Ruther suggested the Boardstate they don’t know exactly how but we know what.What is preserving and protecting the loss of residentoccupied non-deed restricteddwelling units. We shouldn’t loose sight of that. #2 reads as written except adding deed restriction current residential property for employee housing, subject to Town Council approval. If that doesn’t work then come up with another way to preserve and protect. 2.Allow current residential property owners, including vacant residential land, to participate in the lottery with the understanding that they must either1)deed-restrict their current residential property for employee housing, subject to Town Council approval,or, 2) dissolve their interest in the real estate prior to closing on the new deed-restricted property. Ruther discussed his lottery process take on the weighted lottery. The Board discussed different weighted scenarios. . The Board recommended totalof 5 ticketsmaximum. 1.Enterlottery meeting minimum criteria= 1ticket 2.Work in Vail = 1 ticket 3.Work in Vail 10years or more=1 ticket 4.Live in Vail= 1ticket 5.Live in Vail 10years or more=1 ticket If applicant meets all 5 criteria they get a total of 5 tickets, i.e. entries. Basis is on cumulative yearsin Vail. During the lottery all names/tickets will be placed in tumbler and all names will be pulled creating a wait list for the sale. Does name get strickenafter name pulled with multiple tickets?Yes name pulled all other tickets removed, don’t count. Wilkins askedwhen does one enter.Applications will be accepted as homes become available. Ruther brought up the employee housing guidelines. There are certain obligations today which we need to make sure we adhereto doing re-sale. 2 weeks ads, 2 open houses, Morales motioned to enter Executive Session per C.R.S. §24-6-402(4)(a)(e) -to discuss the purchase, acquisition,lease, transfer orsale of real, personal or other propertyinterests; for Page 4 the purposes ofreceiving legal advice on specific legal questions and to determine positions relative tomatters that may be subject to negotiations regarding: Vail InDEED applications and deed restrictions. MOTION: MoralesSECOND:WilkinsVOTE:4-0(all in favor) VLHA convenedexecutive session. Present were Lindstrom, Morales, Meza and Wilkins, staff consisted of Ruther and Campbell. The Board reconvened the regular meeting at 5:06PM. st Morales reviewed the housing subcommittee will meet 1Thursday following the first Tuesday council meeting. The Bruno and Moffet want to review Housing Guidelines review, way to invest in deed restrictions outside the Town of Vail, housing policies and additional funding. The Board needs to review and recommend to Council interest in investing in down valley deed restrictions. th Ruther reminded the Board the Town Council joint afternoon session is scheduled for June 5. Wilkins made a motion to adjournthe meeting at 5:15PM. MOTION: WilkinsSECOND:MezaVOTE: 4-0 Next Meeting –May 22, 2018 Future Agenda Items: Housing Policy Update Discussion Update Economic Value of Housing Discussion VLHA Business Plan East Vail Parcel Update Open Lands PlanDiscussion West Vail Master Plan Discussion Page 5