HomeMy WebLinkAbout1987-09-29 Support Documentation Town Council Work Session
VAIL TOWN COUNCIL
WORK SESSION
TUESDAY, SEPTEMBER 29, 1987
1:30 p.m.
AGENDA
1. Golden Peak House Land Purchase Discussion
- 2. Discussion of Congress Hall Financing Options
3. Budget Discussion
A. Police Department
4. Planning and Environmental Commission Report
5. Information Update
6. Other
7. Adjournment
VAIL TOWN COUNCIL
WORK SESSION
TUESDAY, SEPTEMBER 29, 1987
1:30 p.m.
EXPANDED AGENDA
1:30 1. Golden Peak House Land Purchase Discussion
Peter Patten
Tom Braun Action Requested of Council: To discuss this proposal and _
provide direction to the applicant and staff as to whether
to proceed with additional work on this proposal.
Background Rationale: Request by Ron Riley (in conjunction
with the proposed Golden Peak House redevelopment) for the
Council's consideration of the sale of the Town right-of-way
in front of the Golden Peak House.
The applicant is desirous of initiating a major remodel of
the Golden Peak House. One aspect of this proposal involves
a one floor commercial expansion on the Bridge Street side
of the building. The applicant is interested in purchasing
this land from the Town to facilitate this development.
2:00 2. Discussion of Congress Hall Financing Options
Ron Phillips
Charlie Wick Action Requested of Council: Review the financial
Steve Barwick information generated to date and give staff direction on
which areas more attention should be focused.
Background Rationale: The operating, marketing and
financing scenarios for a proposed Congress Hall have been
studied in depth and various options will be presented for
Council's consideration. Joe Burroughs of Kirchner-Moore
will at the meeting in place of Steve Jeffers who will be
out of state.
2:30 3. Police Department Budget Discussion
Ken Hughey
3:30 4. Planning and Environmental Commission Report
Peter Patten
3:45 5. Information Update
3:50 6. Other
3:55 7. Adjournment
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PLANNING AND ENVIRONMENTAL COMMISSION
September 28, 1987
1:45 P.M. Site Inspections
3:00 P.M. Public Hearing
1. A request for a conditional use permit to
establish an outdoor dining deck at the Kowloon
Restaurant located at the West Vail Mall.
Applicant: Kowloon Restaurant
2. A request for an exterior alteration of less
than 100 square feet to locate a storage locker
on the west side of the Bell Tower Building.
Applicant: Bell Tower Associates, Ltd.
3. A request to amend Ordinance 37, Series of 1983,
pertaining to the rezoning of Lot 1, Block l,
Bighorn Subdivision, First Addition.
Applicant: James Sheahan
4. A request for a conditional use permit in order
to operate commercial storage in the Concert
Hall Plaza building.
Applicant: Vail Investment
5. A request for a minor subdivision in order to
create two Primary/Secondary lots on Lot 4,
Block 4, Vail Village 3rd Filing.
Applicants: Ben and Martha Rose
Western Capital
Development Corporation
September 28, 1987
~
Mr. Rondall V. Phillips
Town Manager
Town of Vail
75 South Frontage Road
Vail, CO 81657
Dear Ron:
Per our conversation last week relative to the Vail Congress
Hall, I submit the following modifications to our proposal
czated September 15, 1987.
You indicated that the Town Council currently favors the
66,500 sq. ft. structure as recommended by Economics Research
Associates (ERA). Western Capital Development's (WCD)
proposal of September 15 consisted of a structure designed
for 66,500 sq. ft., but phased initially with a 50,000 sq.
ft. facility. Our proposal can be easily modified by basing
our lease payment, as contained in Exhibit H of our proposal,
on $15,600,000 instead of $10,500,000. The rate of return
would remain the same ranging from 7.0% in year 1 to 9.0% in
year 10.
In response to your question last week, we would be willing
to consider assuming the role of mortgage broker together
with Rosche Finanz. We will contact you as soon as we have
discussecl this approach with Rosche.
Sincerely,
~?'YYKa~~ ,
J mes E. Obst
ice President
JEO/drs
333 South Allison Parkway, Suite 301
Lakewood, Colorado 80226
(303) 985-9898 Telex 822099