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Home My WebLink About01. VEAC 07-10-18 Minutes FINALVail Economic Advisory Council Tuesday, July 10, 2018 Town Council Chambers 8:00 AM – 10:30 AM MEETING MINUTES Packet Materials Link: https://bit.ly/2z85u6L VEAC Members Present: Rayla Kundolf, Laurie Mullen, Mike Lange, Sarah Franke, Chris Romer, Matt Ivy, Greg Moffet, Matt Morgan, Mark Gordon, Kim Newbury-Rediker, Matt Morgan, Travis Coggin, Dave Chapin Town of Vail Staff Present: Mia Vlaar - Economic Development Director, Laura Waniuk - Event Liaison Specialist, Kathleen Halloran – Finance Director, Greg Clifton – Town Manager, Ernest Saeger - Special Event Coordinator Others Present: Sidney Bonser – Strategic Initial Outfitting Transition Solutions (SIOTS), LLC Commission on Special Events: Review of event scorecard changes, CSE Members (10 minutes) Please see presentation. Gordon, Kundolf and Newbury-Rediker reviewed the updated changes. Vlaar said that CSE should provide more specific direction on inclusion of lodging information to optimize booking hotel stays on Vail properties for their attendees. Gordon stated that the survey process has informed CSE decisions in the past and now there is a data set. Kundolf said that there are a lot of people who stay in Airbnb properties. Nolan said that he can provide data from other locations. Financial Update, Kathleen Halloran (15 minutes) Sales Tax Upon receipt of all sales tax returns, May collections are estimated to be $752,693 up 14.1% from last year and up 14.7% compared to budget. Year to date collections of $13,470,118 are up 2.8% from prior year and up 0.4% from budget. Inflation as measured by the consumer price index was up 2.8% for May. The annual budget totals $26.0 million. Real Estate Transfer Tax (RETT) RETT collections through June 27 total $3,606,168 up 13.2% from this time last year. Sales from the Lion have boosted RETT revenue so far this year. Without those sales, RETT is flat with 2017 and is pacing with budget. The annual 2018 RETT budget totals $6.1 million. Construction Use Tax Use Tax collections through June 27 total $1,098,362 compared to $879,764 from this time last year. The annual budget totals $1,975,900. Phase II of Review of Economic Development Plan, Mia Vlaar, All (25 minutes) Please see presentation. VEAC Minutes July 10, 2018 Goal 4 • Nolan said that the VCBA meetings had a focus on employee culture, it was noted that Vail is no longer considered “fun”. • Romer shared that in the workforce study; all companies said that housing is the number one issue. • Kundolf said that there are some challenges with morale in the working population and younger demographic who live and/or work in Vail. • Moffet provided background into the millennial demographic and their shopping/spending behavior. That group happens to be more experiential in their purchase patterns. • Mullen said that her staff live and work in Vail and prefer to spend their time in Vail. Mullen says that none of her staff see it as even possible to purchase a home in Vail. • Morgan said that he thinks his employees definitely want to live and work in the same area. He thinks that the Vail InDeed program model is a potential gap filler for the people who will not be able to afford to pay full price. • Moffet said that the InDeed program is not sustainable due to the financial model. He said that there needs to be some form of tax to support housing. • Gordon asked about taking a portion of the RETT tax to fund housing, Moffet said that will be taken into consideration. • Gordon said that there will be a correction at some point and that the town made a mistake by not buying up as much property during the recession. Goal 5 • Discussion regarding RFP being released for the civic area plan, focused on Lionshead. • Clifton provided the information on the civic area plan RFP and Moffet discussed how the Open Lands Plan aligns with the overall civic area plan. • Clifton said that there is a lot of public input on the front end of this program. There is a lot of work that lies ahead. • Some of the topics that are under discussion, multi-use facility, more parking, etc. • Cilfton sees the VEAC as representing the local businesses and providing input. He sees the VEAC playing an important role. • These are large community plans and the VEAC could bring very valuable perspective to the discussion. • Mullen asked if this was a similar approach to this as to the conference center. Chapin said that this is different, it’s broader. • Mullen says that there is a need to address both community and guest needs. She gave the example of the amphitheater as meeting both groups’ needs. • Clifton said that this project needs to be balanced from the start. There are many components within this planning, housing, transportation, etc. • Moffet said one of the biggest structural changes will be autonomous automobiles. • Clifton said that Vail is entirely dependent on the outdoor recreation of the area. • There are fewer resources going into stewardship and maintenance of trails. The consequence from the Federal Government is to close those areas. VEAC Minutes July 10, 2018 Town Manager’s Report, Greg Clifton (15 minutes) • Interviewing 5-6 candidates for Community Development Director, seeing some turnover there. • There is a group that is starting to discuss regional transit, Romer is participating. • Clifton agreed with Moffet with regard to the sustainability of the InDeed program. Citizen Input (5 minutes) NA Other Business (5 minutes) • Vlaar said that there is an interesting report/study regarding the millennial group and their spending and travel habits. Free download here: http://resonanceco.com/reports/2018-future-millennial-travel-report/ Adjournment Next Meeting: Tuesday, August 14, 2018, 8:00 – 10:00AM VEAC Minutes July 10, 2018