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1990-07-31 Support Documentation Town Council Work Session
~N~` VAIL TOWN COUNCIL WORK SESSION TUESDAY, JULY 31, 1990 12:00 P.M. AGENDA 1. Town CouncillPlanning and Environmental Commission Joint Meeting A. Discussion of Zoning Code Amendment Alternatives B. Discussion of Cemetery Final Report C. Site Visit to Byrne Residence - 146 Forest Road (Lot 6, Block 7, Vail Village 1st Filing) 2. '~~scussion of 1990-91 Parking Policies 3. Discussion of Summer Bus Ridership Statistics 4. Discussion of Colorado Highway Department Five Year Plan Request 5. Information Update 6. Other VAIL TOWN COUNCIL WORK SESSION TUESDAY, JULY 31, 1990 12:00 P.M. EXPANDED AGENDA 12:00 1. Town Council/Planning and Environmental Commission Joint Meeting Tom Braun A. Discussion of Zoning Code Amendment Alternatives Action Requested of Council: provide comments on the proposed amendment alternatives for SDD's, site coverage, GRFA, and the "pay in lieu" parking program. Background Rationale: These four key issues identified by the Council were discussed conceptually in May. Based on input from the Council and PEC task force, these amendment alternatives have been refined and further input from the Council and PEC is needed. Memos on these four amendment proposals will be hand delivered on Monday. 2:15 B. Discussion of Cemetery Final Report Kristan Pritz Action Requested of Council: Review report and public input, as well as set date for final decision on cemetery site for an evening Town Council meeting. The Aug. 21st evening meeting is proposed for the decision. 2:45 C. Site Visit to Byrne Residence - 146 Forest Road (Lot 6, Mike Mollica Block 7, Vail Village 1st Filing) Action Requested of Council: None at this time. Discussion of item only. Background Rationale: The Council, on 7/24/90, has required the applicant to go back to the PEC for a proposed amendment to a previously approved wall height variance. 3:15 2. Discussion of 1990-91 Parking Policies Stan Berryman Action Requested of Council: Approve/deny parking policies for 1990-91 ski season. Background Rationale: The Transportation and Parking Advisory Committee has developed parking policies as a part of the Comprehensive Parking and Transportation Plan (see enclosed memo and policy statement). Arnie Ullevig will be at the work session to discuss the recommendation. Staff Recommendation: Approve parking policies for 1990-91 ski season. 4:00 3. Discussion of Summer Bus Ridership Statistics Stan Berryman Action Requested of Council: Continue/discontinue extended hours of service on both outlying routes and late night service on the in-town shuttle route, and eliminate/continue the Frontage Road express bus service (Friday, Saturday, Sunday, loam-4pm). Background Rationale: The Town began running extended hours bus service on outlying routes July 1st. The Town has been running extended service on the in-town shuttle until 2:00 d a.m. since May 26th. An express Frontage Road shuttle bus service was instituted on June 22nd. A ridership report with associated costs is enclosed. An update will be presented at the July 31st work session. Staff Recommendation: Continue extended hours of service on both outlying routes and late night service on the in-town shuttle route. Eliminate Frontage Road express bus service due to lack of ridership. 4:20 4. Discussion of Colorado Highway Department Five Year Plan Stan Berryman Request Ron Phillips Action Requested of Council: Approve projects to submit to the Eagle County Commissioners for inclusion in the Colorado Highway Commission Five Year Project Plan. Background Rationale: Each year the Highway Commission sets 5-year priorities for highway project planning and construction. The projects suggested by staff are: 1) Pedestrian bridge in post office area. 2) Dowd Junction bike path. 3) Revegetation of I-70 cut slopes. 4) Mention the Parking & Transportation Master Plan with major projects which will result. 4:50 5. Information Update Ron Phillips 4:55 6. Other -2- Cemetery Report July, 1990 t h Town Council Kent B. Rose, Mayor Thomas I, Steinberg, Mayor Pro Tem Lynn A. Fritzlen Jim J. Gibson Merv Lapin Robert M. Levine Margaret (Peggy) A. Osterfoss Town Manager Rondall V. Phillips, Town Manager Planning and Environmental Commission Chuck Crist Diana Donovan Connie Knight Ludwig Kurz Kathy Warren Jim Shearer Dalton Williams Cemetery Committee Hermann Staufer Ed Drager Dave Cole Cissy Dobson Sally Johnston Chuck Ogilby Peggy Osterfoss Rev. Don Simonton Sylvia Shapiro Jerry Sibley Lou Meskimen Community Development Staff Peter Patten, Former Director Rick Pylman, Former Planner Consultant Peter Jamar, Peter Jamar Associates CEMETERY REPORT For many years the Vail Community has discussed designating lands within Town limits as a Town cemetery. This issue has been discussed by community groups and various Town Councils in the past, but no firm conclusions or recommendations have been made. This report will identify the issues and alternatives involved in cemetery development within the Vail Community. The report has been broken down into three main issues with many sub-issues and alternatives involved with each area. These issues are as listed: 1) site selection and design; 2) management; 3) financing. 1 i These sites were identified based upon the fact that they appeared to possess general characteristics suitable for cemetery use 1) suitability of terrain; 2) good drainage; 3) proximity to water sources; and 4) accessibility. These four sites were: Parcel H: A 40 acre tract of land owned by the Forest Service located in East Vail, partially under an elevated section of.I-70. Mountain Bell Tract: A 25 acre tract of land, currently owned by the Town of Vail and Mountain Bell, upon which the telephone~micro- wave transmitting facility and pre-school facilities are located. i Stephen`s Property: A parcel of land currently owned by theiTown of Vail located at the east entrance into the Intermountain Subdivi- sion. Donovan Park Parcel: The portion of Donovan Park known as the "Upper Bench" and located between Matterhorn and Glen Lyon Subdivisions. While the Land Use Plan identified these as potential sites,ithe Plan did not, since it is meant to be a general document, include any detailed analysis of these sites and pointed out that each site possessed unresolved questions that were in need of further study. In addition to the four sites identified in the Land Use Plan, the Department of Community Development and Cemetery Committee identified an additional nine sites, both publicly and privately owned, within the Gore Valley which they believed should be considered in terms of their potential for further study as suitable sites for a' cemetery. i 3 i s . Site: Highland Meadows Parcel Description: An undeveloped portion of the Highland Meadows Subdivision adjacent to Vermont Road and Meadow Brook Drive. Potential Suitability: Poor - multiple ownership, known poor sub- surface soil conditions for cemetery. Further Study: No Site: Katsos Ranch Parcel Description: The eastern end of the 146 acre, public property purchased by the Town of Vail in 1977. Potential Suitability: Good -flat, adequate access. Further Study: Yes Site: Spraddle Creek Description: 27 acres, privately owned, located on the north side of the main Vail Interchange. Potential Suitability: Poor - owner not interested in site being considered. Further Study: No 5 i i Site: Timberfalls Parcel Description: A 7.5 acre parcel of privately owned land adjacent I to Nugget Lane in East Vail. Potential Suitability: Good - good access, flat area. Further Study: Yes Based upon the preliminary analysis, then, three of these sites were selected for further study: Lionsridge Parcel, Katsos Ranch Parcel and Timberfalls Parcel. In addition, three of the four sites previously identified within the Vail Land Use Plan were selected for further study. The fourth site, the Mountain Bell Tract,~was determined not to warrant further study due to size limitations. The large amount of this parcel which is occupied by the Mouitain Bell and pre-school facilities results in very little usable space for a cemetery. Therefore, a total of six sites were selected to be subject to the next level of analysis. These sites are depicted upon the Location Map on the following page. SITE ANALYSIS/SUITABILITY In order to determine which of the six candidate sites identified in the preliminary analysis was the most favorable for the cemetery, a ]ist of design objectives was compiled. The eleven designiobjec- tives, or criteria, were as follows: 1. The site must be of an adequate size and shape to accommodate the cemetery. ~ 7 The size of the cemetery is one factor which is difficult to deter- mine in exact terms due to the large number of variables which will dictate the utilization of the cemetery. Issues such as the number of burials per year, the number of burials versus cremation, the number of burials currently located elsewhere which might be moved to Vaii in the future, and the number of non-permanent residents that might choose burial in Vail are difficult to estimate. For planning purposes, it was assumed that an adequate site to serve Vail's future needs should possess at least 5 acres of land suitable for cemetery use. The next step in the planning process was to conduct a detailed site analysis of the identified sites. This entailed preparation of base maps for each site, a thorough review of the existing con- ditions upon each site, and mapping of these existing conditions. Soils testing was also completed and on one site, Katsos Ranch, a detailed analysis of the 100 Year Flood Plain was completed. A point scale was developed for use when comparing each site to the identified eleven factors: Points Meaning 3 Positive impact, strong correlation or no anti-• cipated problems. 2 Neutral/slight impact, moderate correlation or no major problems. 1 Potential negative impact, weak correlation or anticipated problems. 0 Negative impact, no correlation, known problems. 9 i STEPHEN'S PARCEL The Stephen's Parcel is located in West Vail along Gore Creek on both the east and west sides of Lupine Street. This parcel is made up of both public and private land and totals 15 acres. The easteri portion of the site is currently owned by the Town of Vail and three existing residential structures exist on the western portion. Factors Comments Points 1. Size and Shape Very poor - only 4.5 acres of 0 the total site are usable and usable land is fragmented into four non-contiguous areas 2. Topography No anticipated problems 3 3. Soil Conditions Anticipated problems due to 1 difficult excavation and possible groundwater 4. Geologic Hazards Anticipated problems due to 1 flood plain and debris avalanche 5. Access Excellent access 3 6. Parking Limited due to limited useable 1 site area 7. Utility Services All utilities available 3 8. Compatibility With No potential to buffer 2 Surrounding Land from existing uses Uses 9. Expansion Potential Limited 2 10. Aesthetic Qualities Negative - located at the 1 entrance to subdivision 11. Acquistion Cost Known problems - portion of 0 And Timing site would have to be purchased TOTAL POINTS X17 11 KATSOS RANCN PARCEL The Katsos Ranch Parcel is a 13 acre tract located at the far eastern end of the Katsos Ranch Park. the land is located on the south side of Gore Creek and is currently undeveloped and in its native condition. Factors Comments Points 1. Size and Shape Due to the flood plain influence 0 of Gore Creek, very little of this site could be utilized for cemetery purposes 2. Topography The site is very flat 3 3. Soil Conditions Known groundwater problems 0 4. Geologic Hazards Within Flood Plain and Floodway 0 5. Access Poor, a bridge would have to be 1 constructed for vehicular access 6. Parking Adequate area to provide parking 3 7. Utility Services Utilities are available to the 2 site, but would be expensive to extend 8. Compatibility With No anticipated problems 3 Surrounding Land Uses 9. Expansion Potential Limited 2 10. Aesthetic Qualities Very good 3 11. Acquisition Cost Currently owned by Town of Vail 3 And Timing TOTAL POINTS 20 13 LIONSRIOGE PARCEL The Lionsridge Parcel consists of 26 platted duplex lots located adjacent to Lion's Ridge Loop and is currently undeveloped. The property is privately owned. Factors Comments Points 1. Size and Shape A total of 8.2 acres is 3 usable and is all contiguous 2. Topography No anticipated problems 3 3. Soil Conditions No major problems 2 4. Geologic Hazards No known problems 3 5. Access Excellent access 3 6. Parking Adequate area for parking 2 exists 7. Utility Services All utilities available 3 8. Compatibility With No anticipated problems 3 Surrounding Land Uses 9. Expansion Potential Limited ? 10. Aesthetic Qualities Very good 2 11. Acquisition Cost Known problems - site would 0 And Timing have to be purchased TOTAL POINTS 24 15 I SUMMARY i As shown in the table below, the Donovan Park Parcel as indicated by the ranking process, is the most suitable site for the cemetery. oYC U to Q Z W J SITE ANALYSIS -FACTORS z ~ z W ~ w = o W ~ w azQ OQ V z¢ m¢ Ha Za Win. Q pa ~a ~ ~ Y J H 1. Size and Shape 0 3 0 0 3 1 2. Topography 3 3 3 3 3 2 3. Soil Conditions 1 3 0 2 2 2 4. Geologic Hazards 1 2 0 1 3 3 5. Access 3 3 1 3 3 3 6. Parking 1 2 3 1 2 1 7. Utility Services 3 3~ 2 2 3 3 8. Compatibility~with 2 3 3 3 3 3 surrounding land uses 9. Expansion Potential 2 2 2 2 2 2 10. Aesthetic Qualities 1 2 3 1 2 3 11. Acquistion Cost and Timing 0 3 3 0 0 0 TOTALS 17 29 20 18 26 23 17 The following issues and alternatives regarding design, management, and financing for the purpose of this report assumes that Donovan Park is the preferred location. These issues still exist with any other site or location. DESIGN The cemetery Committee and the Town Council have discussed conceptual design style. The desire of both groups is to maintain the natural features and plantings of the chosen site to the greatest extent possible. Cemetery design and improvements would be of a very low-key nature. The specific design needs regarding interior roads, gravesite access, footpaths, etc. are all issues that will need to be addressed and are somewhat dependent upon other design and management issues. Monumentation Monumentation may be limited to no markers, flush markers, or upright monuments. The current position of the Cemetery Committee is to restrict monumentation to flush markers. This decision will somewhat impact landscaping and maintenance design and operations. Parkinq Parking for the Donovan Park site would be best accommodated by the widening and paving of the existing Matterhorn Loop Road. Utilization of the existing road for parking is in harmony with the concept of a low-key development scenario for this site. A defined parking area could be developed to focus the entrance to the cemetery. on Site Services The decision to allow or to have the ability to perform graveside burial services is an option that wild require designing substantial physical accessways to etch gravesite. This issue is a management decision which is important to be determined prior to final design. Another option that is available is to construct a platform (concrete, brickpavers, gravel, etc.) near the entrance to the cemetery, in a very accessible location, upon which a temporary structure (tent or awning) could be erected for specific services. A small permanent memorial structure to serve this purpose is also an option to be considered. Creating a central location for these memorialiservices does eliminate the need for extensive accessways to be designed into the cemetery site plan. 19 There is also a pre-cast vault system that is available in cemetery construction. This method of construction requires that the entire site be graded, concrete vaults would be installed, removable lids would be installed, and .topsoil would be placed over the vaults and re-vegetated. This method minimizes excavation and opening and closing costs during operational use of the cemeteries existence. It does, however, greatly increase up front development costs. Religious and special interest Groups Research of other cemeteries has indicated that it is not uncommon for specific areas of a cemetery to be reserved for members of certain religious or special interest groups, ie. Catholics, veterans, masons, etc. This may or may not include a pauper section in the cemetery. Again, this is a management decision that does affect other decisions such as winter burial and pre-selling of sites. Zoning Cemeteries are allowed as a conditional use in the Agricultural and Open Space zone district. Donovan Park, the preferred site, is zoned Agricultural and Open Space so a conditional use permit would be required. A second and third alternative site, as designated in the site selection report, are currently zoned for residential use, and in order to accommodate a cemetery, require rezoning to Agricultural and Open Space zone district and a conditional use permit. II. MANAGEMENT Cemetery Committee has recognized and must evaluate four possible management scenarios: 1) private; 2) municipal; 3) special district; 4) municipal/public trust. i) Private This type of management option was discussed in a 1978 proposal to the Vail Town Council. Although this specific proposal is no longer valid, the basic concept remains the same and a similar type of relationship could possibly be negotiated with a private party. 2i 1 3) Special District The Town of Vail lies within an existing cemetery district. The Minturn cemetery district was formed in the 1940s and the boundaries as shown were consistent with 1940s School District Area No 11. This ,area includes Vail, Minturn, a small portion of eastern Eagle-Vail, and a great deal of ranch and public land north of Vail. The 1988 assessed evaluation of the district is $329,3??,180. The 1988 assessed evaluation of the Town of Vail is $295,576,510, which indicates that Vail represents 89.7$ of the assessed Minturn cemetery district. The current mill levy of the district is .025, which nets the district $8,234 annually. The cost per $100,000 of residential market value is $4.50. To increase the district budget to a revenue of $150,000 annually, a mill levy of .444 would need to be set. This mill levy increase would cost $81.90 per $100,000 of market value residential property. The district would, of course, be responsible for maintaining the existing Minturn cemetery, as well as the development, management, and maintenance of a new Vail cemetery. The Minturn Cemetery District is governed by a board of three appointed by the county commissioners. A seat on this three-member board has a term of six years. All seats are currently held by Minturn residents. Expiration dates of those seats are 1990, 1992 and 1994. The Town of Vail attorney has researched the laws regarding cemetery districts and from all indications it appears that removal from a cemetery district is a difficult, if not impossible, task. Tn order to utilize the existing cemetery district to develop a Vail cemetery, it is assumed that it would be necessary for a Vail interest to control the cemetery district board. This would require that citizens interested in pursuing this concept be appointed to the cemetery board as openings arise. 4) Municipal/Trust Arrangement .This management option would operate similar to the municipal cemetery, in that the Town of Vail would own the land and pay for the development costs. However, an appointed board, or perhaps a group such as the Vail Religious Foundation would operate the cemetery. This board would dictate the major design and management decisions, as well as handle day-to-day operatiions. The Town Council would still have ultimate control over the board and budget process, yet would be one step removed from the political aspects of the cemetery management. Further details regarding this type of operation would need to be negotiated upon by the two groups that were a party to this interest. 23 . FOREWORD The management of municipal cemeteries is not infrequently abottom-of-the-barrel priority in a number of Colorado communities. The assertion has even been made that cemetery operation is ~ not a required or proper municipal function because its "proprietary" rather than "governmental" nature gives it many attributes of a private business venture. Yet like it or not, municipal officials across the country are being increasingly confronted with the complexities of cemetery management. The number of municipal cemeteries is growing as cities and towns establish new burial grounds or acquire them from private concerns by gift or default. In most communities cemetery fees and charges have been increased in an attempt to keep abreast of ever-increasing cemetery maintenance, development and land acquisition costs. In spite of higher rate structures, however, municipal cemeteries often operate at substantial deficits and de- mand larger tax subsidies each year. Cemetery operations, then, frequently present persistent problems and responsibilities to a munici- ' pality. Managing Municipal Cemeteries is intended to help municipal officials deal with those prob• lems and learn of management practices in other Colorado municipalities. It is an expanded and updated version of Operation and Administration of Municipal Cemeteries, a CML analysis first published in 1954 and revised in 1962. 1 This publication should be used only as a general guide and is not a substitute for advice from legal and technical experts. In particular, sample legal documents contained in this publication are for illustrative purposes only and should not be adopted by any municipality unless reviewed and ap- proved by the municipal attorney. Further, much of the material must be tailored to the individual municipality. We would like to thank the 106 municipalities and districts which responded to our cemetery sur- vey questionnaire for their cooperation and assistance. Data submitted by the 49 municipalities and 18 districts which indicated that they owned one or more cemeteries is included in Tables 1 - 5. ' We would also like to recognize the work of Janel Helt, Publications Secretary, who compiled the data tables-and typed the publication; Jeff Iseminger, Director of Research, who supervised the ' survey and wrote or edited most of the text; Dan Himelspach, Legal Research Associate, who drafted the section on relevant state laws; Susan Griffiths, General Counsel, who rendered valuable advice, legal and otherwise; and Gladys Anschutz, Secretary, who printed this publication. As always, the League staff welcomes any comments on this report. ' ~ Kenneth G. Bueche Executive Director March 1975 COLORADO MUNICIPAL LEAGUE 4800 Wadsworth Blvd., Suite 204 Wheat Ridge, Colorado 80033 Nonmember Price: $6.00 25 TABLE 1 : CEMETERY SITES Year Founded Average , Municipality Population No. of Uwned By. or Acquired Total Acres Acres Annual (1974 Estimate)a Cemeteries by Munic./District in Cemetery Used Intermentsb Colorado Springs 172,000 2 municipality 1880 200 120 790 Fort Collins 57,750 Z municipality - 277 Greeley 57,500 1 municipality 1878-1879 75 48 234 Grand Junction 23,592 1 municipality - 90 45 250 Loveland 21,750 2 municipality 1920's 46 36 186 Broomfield 14,189 1 municipality - 2.15 1.5 -0- Brighton 13,800 1 municipality 1946 43 18 124 Golden 12,800 1 municipality 1874 52.9 29 62 Sterling 12,500 1 municipality 1917 50 15 125 ~ Canon City 12,166 2 municipality 93.64 62.6 Fort Morgan 8,200 1 municipality 1901 - 18.40 acres 37.5 20 132 1954 - 19.11 acres Lamar 8,000 2 municipality 1888 100 40 119 1926 Alamosa 7,377 1 municipality 1933 45 25 - Montrose 7,200 1 municipality 1883 40 20 45 Fountain 7,000 1 municipality ~ 1897 2.25 1.7 10 Glenwood Springs 6,275 2 municipality ~ ~ 1800's 80 80 1900's Brush 5;000 2 municipality -1893,-1906,-1929- 23.-1 -9.-1- 70 and 1968 Evans 4,500 municipality - a State Planning Division Survey, July 1, 1974 c Beiny developed as an historical site. b for last three years d with county participation ~ r r r r r r r rr ~r r rr r r r r. rl~ it i CEMETERY SITES (continued Year Founded Average Municipality Population No, of Owned g or Acquired Total Acres Acres Annual 11974 Estimate a Cemeteries y by Munic./District in Cemete Used b ~'Y Interments- Cheyenne Wells 1,100 1 Fair View Cemetery District 1892 10 5 13 Wellington 1,075 1 municipality prior to 1905 11.5 3 3 Ault 1,000 1 municipality 1904 4.5 2 11 Haxtun 1,000 1 West Phillips County Cemetery 1935 6 5 30 District Telluride 1,000 1 Lone Tree Cemetery, Dist. 1 1956 4 2.5 6 Palisade 900 1 municipality 1968 15 8 30 Eagle 900 1 Eagle Cemetery District - 10 Ouray 835 1 Cedar Hill Cemetery District 1896 16.21 14 o Hugo 800 1 municipality - 10 6 20 • Monument 800 1 municipality 1955 5 4 5 Olathe 775 1 Olathe Cemetery District 1944 10 4 30 Silverton 770 1 municipality 1889 20 - 4 Cedaredge 750 1 Cedaredge Cemetery District 1948 13 8 29 Flagler 675 1 Flagler Cemetery District 1954 15 6.5 15 New Castle 650 1 municipality 1900 5 4 5 Frisco 521 1 municipality 1890 1.72 .1 2 Nederland 515 1 municipality - 1 .7 2 Hotchkiss 508 1 Hotchkiss Cemetery District 1953 5 27 Dillon 500 1 municipality 1960 43 8 6 Ovid 475 1 Ovid Cemetery District 4 10 a State Planning Division Survey, July 1, 1974 ~ for last three years TABLE 2 : CEMETERY SITES AND ADMINISTRATION Improvements Allowed Municipality Separate Areas For Large Private Curbing or If Municipality, Who NAausoleums ~jpQ Sets Policy? Colorado Springs members of special associations yes yes no council or trustees Fort Collins paupers, infants yes no no council or trustees Greeley paupers, infants, veterans yes yes no council or trustees Grand Junction paupers yes no no council or trustees Loveland paupers, infants yes yes no manager Brighton paupers, infants yes no no council or trustees Golden paupers, members of special associations yes no no council or trustees Sterling paupers, infants, Catholics yes yes no council or trustees; also county o participation Canon City paupers, infants, members of special yes no no council or trustees; manager associations (less than 6') Fort Morgan infants, members of special assocations no no no council or trustees Lamar paupers, Catholics yes no no council or trustees Alamosa paupers, members of special associations yes yes no council or trustees Montrose paupers, infants, members of special yes yes no council or trustees associations Fountain - yes yes yes council or trustees Glenwood Springs paupers, infants, members of special yes yes yes council or trustees associations Brush paupers, infants, veterans yes no council or trustees Evans no no no council or trustees Manitou Springs infants, members of special as9ociations yes no no council or trustees * At least in designated areas CEMETERY SITES AND ADMINISTRATION (continued) • ~ Improvements Allowed * If Municipality, Who Municipality Separate Areas For I Large Private Curbing or Sets policy? Monuments Mausoleums Fencing Ault - yes no no council or trustees Haxtun members of special associations no no no (district board) Telluride** paupers, members of special association yes no no (district board) Palisade infants no no no council or trustees Eagle paupers yes no no (district board) Ouray members of special associations yes (district board) Hugo paupers yes no council or trustees Monument - yes no yes council or trustees Silverton yes yes yes council or trustees N Cedaredge members of special associations yes no no (district board) Flagler paupers no (district board) New Castle paupers, members of special association yes yes council or trustees veterans Frisco paupers no no no council or trustees and advisory board Nederland paupers yes - council or trustees Hotchkiss infants no no no (district board) Dillon yes yes yes council or trustees Ovid paupers yes yes yes (district board) Manzanofa paupers yes yes yes council or trustees Fleming yes yes yes council or trustees _ * at feast in designated areas served by a special cemetery district as shown in Table 1. r r Ir r r r l)>r r r r r r r r r r r >r TABLE 3: CEMETERY FINANCING 1973 1974 Mill Levy Perpetual Care Fund Municipality Cemetery Cemetery Earmarked District Perpetual Care? Year $ in Revenues • Exaenditures Municipal Levy Lew Started Fund Colorado Springs $261,493 $241,042 - yes -compulsory - Fort Collins 45,187 93,587 yes -compulsory - $368,545 Greeley 24,771 59,558 - yes -compulsory 1958 264,000 Grand Junction 71,077 71,868 - yes -compulsory 1937 313,225 Loveland 35,561 50,708 - yes -compulsory - Brighton 37,477 46,950 - yes -compulsory 1946 er $100,000 Golden 8,730 20,778 - yes -compulsory 1953 58,870 Sterling 27,227 58,306 yes -compulsory - Canon City 14,979 44,765 yes -optional 1945 213,022 ~ Fort Morgan 21,325 38,611 yes -compulsory 1920 168,750 Lamar 17,087 28,558 yes - 1926 121,000 Alamosa 4,119 22,643 .75 mill yes -compulsory 1933 108,038 Montrose 6,185 20,485 - yes -compulsory 1964 31,774 Fountain 2,230 1,480 - yes -compulsory - Glenwood Springs 9,315 14,935 - no Brush 8,838 13,145 .5 mill yes -compulsory - 37,904 Evans 3,399 3,974 - no Manitou Springs 5,650 9,750 - yes -compulsory 1920 5,800 Delta 12,200 10,964 - yes -compulsory 1937 - Louisville - - yes -compulsory 1974 -0• Burlington 27,000 19,000 yes -optional * excluding any appropriation or fund transfer by the governing body served by a special cemetery district as shown in Table 1. . . . i~ r r r r i~ i~ l~ i~ i~ ~ i~ i~¦i i~ CEMETERY FINANCING (continued) 1973 1974 Mill Lew Peroetual Care Fund Municipality Cemetery Cemetery Earmarked District Perpetual Care? Year $ in Revenues • Expendit<~res Municipal Levy Lew Started Fund Eagle $ 400 $ 3,470 .91 mill - - - Ouray 820 2,737 1 mill yes - = Hugo 1,500 1,375 - yes -compulsory 1950 $ 12,500 Monument 300 300 - no Silverton -0- -0• no Cedaredge - - 1 mill yes - - - Flagler 630 ~ 5,004 1 mill yes -optional - 4,094 New Castle 40 35 - no Frisco -0- 3,446 - no c Nederland 175 -Q- no Hotchkiss 5,400 5,200 .64 mill no Ovid - 1,200 .278 mill - Manzanola 395 175 - no Fleming 272 2,512 - yes -optional - - Bayfield 200 - 1 mill yes -compulsory - Sugar City -0- -0- no Olney Springs 75 - no Ridgway 263 1,366 .75 mill yes -compulsory - - Empire 585 -0- - no Black Hawk 305 -0- no Seibert 913 872 .31 mill no * excluding any appropriation or fund transfer by the governing body served by a special cemetery district as shown in Table 1. lll>. . lllll~ Illl~ Illll>• r Illll~ Iri, 111111• Ii1• ~ ~ i~ ~ ~ ~ r'' CEMETERY FEES AND CHARGES (continued) ` Municipality Lot ~ Grave Spaces Perpetual Care Adult Child Infant Urn Evans 2-space lot - $ 150 $ 75 $ 75 $ 40 $ 75 Manitou Springs - $140 - resident a - - Incl. in lot/grave price $225 -nonresident Delta 2-space lot - $ 250 $125 b $125 $125 $125 Incl. in lot/grave price Burlington - $ 50 $ 50 $ 50 $ 50 Incl. in lot/grave price Fort Lupton 6-space lot - $ 750 $125 $ 25 $ 25 $125 - Idaho Springs 4-space lot - $ 300 $ 75 ~ c ~ Windsor - $ 75 $ 75 $ 75 $ ~75 Yuma $ 50 $ 50 $ 50 - Incl. in lot/grave price Berthoud - $100 -resident $100 - resident ~ $100 - resident ~ $100 - resident ~ Inc. in lot/grave price $225 -nonresident $225 -nonresident $225 -nonresident $225 -nonresident ~ Wray** $10-$15 $...10.-.$15 $10-$15 $10-$15 Woodland Park $100 - resident g $100 - resident a $100 - resident g $100 -resident e $200 -nonresident $200 -nonresident $200 -nonresident $200 -nonresident Pagosa Springs 12-space lot-$ 75; - '/:lot - $40; lot - $25 Akron 6-space lot - $ 70 - - - Holyoke $ 40 $ 40 $ 40 $ 40 $ 35fspace Hayden $ 30 - $ 10 - Johnstown 10-space lot-$1000 $100 $100 $ 25 $100 Incl. in lot/grave price -Ordway 5-space lot=$187:50 $37:50 -resident-d- $37:50 =resident-d- $37:50 =resident-d- - resident; d $50 -nonresident $50 -nonresident $50 -nonresident 5-space lot-$250 nonresident * Price ranges are indicated when charges vary according to location. b poverty section, $5 served by a special cemetery district as shown in Table 1. c more than one/adult space permitted a Residents are those residing within the city limits at the time of d Residents are those residing within the city limits. death, or those formerly residing within the city limits for at a Residents are those residing within city or owning property in least 3 years, and their immediate families; also such other indivi- Teller County. duals as may be deemed eligible by the Mayor or Council. -•r . ~ ~ r r• I~ ~ l~ r Ir Illll~ r ~¦¦i . Il• l~ . ili CEMETERY FEES AND CHARGES (continued) Municipality Lot * Grave S a r, e s * Perpetual Care Adult Child Infant Um Frisco $ 50 - resident a $ 50 - resident a $ 50 - resident a $ 50 - resident a - $150 -county res. $150 -county res. $150 -county res. $150 -county res. $250 -nonresident $250 -nonresident $250 -nonresident $250 -nonresident Nederland 5-space lot - $125 $ 25 $ 25 $ 25 - Hotchkiss 8-space lot - $400 $ 50 - resident b $ 50 - resident b $ 30 - resident b $ 50 -resident b resident; $100 -nonresident $100 -.nonresident $ 60 -nonresident $ 100• nonresident 8-space lot - $800 nonresident Dillon 6-space plot-$ 25 - - resident; 6-space plot-$100 county resident; 6-space plot-$250 nonresident ~ Ovid 2 spaces @ $5 - - Manzanola 6-space lot - $100 $ 30 $ 30 $ 30 - Fleming 8-space lot - $400 $ 50 - resident ~ $ 50 - resident ~ $ 50 - resident ~ $ 50 - resident ~ - resident; ~ $100 -nonresident $100 -nonresident $100 -nonresident $100 -nonresident 8-space lot • $800 nonresident Sugar City 5-space lot - $30 $7.50 $7.50 $7.50 - Olney Springs $ 25 $ 25 $ 25 $ 25 Ridgway 8-space lot- $75 - - - Incl. in lot/grave price '/a lot - $20 Empire 4-space lot - $300 d $ 75 $ 75 $ 75 $ 75 Seibert 4-space lot - $10 - - _ _ * Price ranges are indicated when charges vary according to location. b Residents are those paying property taxes within the district. served by a special cemetery district as shown in Table 1. Residents are those residing within the city limits. ' a Residents are those residing within or owning property within the Reserved for residents and former residents of Empire and town limits; county residents are those residing within county but immediate area. outside town; nonresidents are those residing outside the county. CEMEtERY FEES AND CHARGES (continued) Opening and Closing Grave Opening and Closing Grave Municipality Adult Child Infant Urn Municipality Adult Child Infant Urn Monument $ 50 $ 50 $ 50 $ 50 Hotchkiss * $ 50 $ 50 $ 25 $ 25 Cedaredge * 50 50 50 10 Ovid * 60 30 15 15 Flagler * $45-res. $45-res. $45-res. $45-res. Manzanola 40 40 40 $60-nonres. $60-nonres. $60-nonres. $60-nonres. Fleming 25 25 10 10 New Castle 50 50 50 Sugar City 40 40 40 -0- Nederland 50 50 50 *served by a special cemetery district as shown in Table 1. r N r~ttEDERICK M. IiAYNES N3 SUNRISE DRIVE • ENGLEWOOD. COLORADO SO110 July 12, 1990 Mayor Rent Rose Town of Vail, Colorado ~ P.O. Box 2101 Vail, Colorado 81658 Subject: Re-zoning Application, Marriott Time Share Project Dear Mayor Rose and Town Council: As a property owner of a condominium in Vail, I am concerned that the zoning, that has allowed an orderly development of Vail, is about to be compromised. It is my understanding that the owners of the Marriott project are applying for a change in zoning to accomodate the expansion. The existing zoning was established over time and should remain uncompromised. I fear that once the zoning in the city is compromised for one project, many more applications would follow shortly. I urge that the city leaders turn down this request for re-zoning. Ve truly y urs, _ Fred Haynes cc: Irene Westbye, Manager Talisman Condominiums Tom and Cindy Jacobson 10/11 ROSS 8c O'BRIEN, P.G. +r~in ATTORNEYS AT LAW i-, ~nr~ s.•: ' - _ 209 SUN PLAZA - ~ 104 SOUTH CASCADE AVENUE COLORADO SPRINGS. COLORADO 80903.2211 C~- V1 17191 473.2600 / FAX 17191 47S•9847 f KARL R. ROSS EDWARD J. O'BRIEN, II Jul 19 1990 OF COUNSEL RICHARD J. GILLOON y ~ MORTON MCGINLEY Mr. Kent Rase Mayor of the Town of Vail, and Members of the Town Council 75 South Frontage Road Vail, Colorado 81658 Dear Ladies and Gentlemen: It is my understanding that public hearings will be held on July 24, and July 31, 1990 to discuss, again, the establishment of a cemetery in Donovan Park. My wife and I built the residence at 1613 Matterhorn Circle (directly across the road from the proposed cemetery) in 1966 and have been part time residents of the area since that time. We, of course, are opposed to the proposed development as would anyone else under similar circumstances. Thus, I suppose we will be categorized as "Nimbys". Our opposition, however, is based on several factors other than the severe deleterious effect the location of the cemetery will have on the marketability of our property. First, there are two serious legal questions involved. One arises by virtue of the method of financing used to purchase the property. The other is created by the representations made to the public, the seller and the mortgage holder at the time of purchase and the later naming of the area as "Donovan Park". Such factors may prevent the conversion of the property to a cemetery use without a vote of the public. I am sure your counsel will disagree with these asser- tions but that is the stuff from which lawsuits arise. Secondly, property in the Vail valley is included within the boundaries of the Minturn Cemetery District. It is my understand- ing that the cemetery operated by the District has ample lands for expansion, certainly far more than sufficient to take care of the few burials that may take place from the predominately transient population of Vail. To impose the cost of an additional cemetery upon the taxpayers is unwarranted as no reason has yet been advanced for such need other than the desire of a few residents to be buried within the Town rather than at Minturn. Such an argument can only be classified in the best light as elitist in nature. i i Mr. Kent Rose, Mayor, and ~ Members of of the Town Council July 19, 1990 Page 2 i i I Thirdly, from a planning standpoint, it will mean the death knell of the Matterhorn area. Matterhorn Village has often times been referred to as the "slums of Vail" and perhaps deservedly so. It has had a very checkered history of poor planning, ineffective covenant enforcement and a total lack of any zoning enfoorcement. Even today, commercial activities involving heavy equipment and the storage of machinery and construction equipment throughout the area, particularly on the streets, are ignored by the zoning officials. Abandoned cars are spotted through the area. Many houses have been converted to use as essentially rooming houses and apartments very possibly beyond the density levels specified in the Town Zoning Ordinances. Landscaping is non-existent and trash is permitted to pile up around the rental units or his stored in overflowing dumpsters and vehicles as well as on balconies and porches. In short, Matterhorn Village is a disgrace to the valley and nothing seems to be done by the Town to rectify the situation. One must, therefore, presume that the Town has written it off so that one final nail in its coffin will be of no consequence. Very truly yours, ~ I a~o~ Karl R. Ross I RRR/dbk I i I i I I I i , VAZL TOWN COUNCIL POLICY STATEMENT 90-91 PARKING POLICIES 1. BASIC PARKING RATE STRUCTURE VTC AND LIONSHEAD PARKING STRUCTURES Time Interval Recommended Existing Price Price 0 Hrs - 1 1/2 Hrs $ 0.00 $0.00 1 1/2 Hrs - 2 Hrs $ 2.00 $2.00 2 Hrs - 3 Hrs $ 3.00 $4.00 3 Hrs - 4 Hrs $ 4.00 $4.00 4 Hrs - 5 Hrs $ 5.00 $5.00 5 Hrs - 7 Hrs $ 6.00 $5.00 to 6 Hrs; $6.00 to 7 Hrs 7 Hrs - 9 Hrs $ 7.00 $6.00 9 Hrs - 11 Hrs $ 8.00 $6.00 it Hrs - 13 Hrs $ 9.00 $6.00 to 12 Hrs; $7.00 to 13 Hrs 13 Hrs - 18 Hrs $12.00 $7.00 18 Hrs - 24 Hrs $15.00 $7.00 2. PREMIUM SERVICE FEES GOLD PASS PROGRAM Price: $750.00 per Season (to be reviewed annually) Conditions and Limitations: o $25.00 deposit at time of purchase. o Valid at VTC and Lionshead parking structures. o Guaranteed space availability. o Unrestricted in-and-out privileges. o Unrestricted during all times. o Sales restricted to first 150 requests. . rr. i 7 3. DISCOUNT PARKING FEES BLUE PASS PROGRAM ~ Price: $200.00 per Season (to be reviewed annually) $ 70.00 per 1/3 Season (to be reviewed annually) i Conditions and Limitations: o $25.00 deposit at time of purchase. o Sales restricted to Vail residents, employees and property owners (except time-shares) having appropriate identification. o Not valid at the VTC during the season (approximately December 15 to March 30) between the times of 6:OOA.M. to 3:OOP.M. o Valid at Lionshead at all times during the season. o Ford Park is recommended to be converted to an equipment controlled, Blue Pass only parking facility. Blue Passes are valid at all times during the season and Blue Passes are required to access the parking lot. i I i JUL 19 '9E~ 7:43 PAUE.002 RECOMMENDED PARKING RATE STRUCTURE TOWN OF PAIL, JULY 1990 INTRODUCTION The following presents the recommended parking rate structure of the Parking and Transportation Advisory Committee developed as a part of the Comprehensive Parking and Transportation Plan process. In addition to the specific recommendations of the committee, summary information is also provided relative to goals and objectives, options considered, and the rationale for the recommenda- tions made. GOALS AND OBJECTIVES o Establish a basic parking rate structure for general parking to insure an adequate revenue stream to meet on-going operation and maintenance costs and to retire long-term debt. o Provide a high quality, premium parking service which guarantees a pazking space at ail times during the year for those individuals needing or desiring an assured parking space. o Provide a price discount parking option for local residents, employees, and property owners during off-peak parking demand periods. RECOMMENDATIONS 1. Basic Parking Rate Structure VTC and Llonshead Parking Structures Recommended Existing Time Interval Price Price 0 Hours - 1-1 /2 Hours $ 0.00 $ 0.00 I -1 /2 Hours - 2 Hours $ 2.00 $ 2.00 2 Hours - 3 Hours $ 3.00 $ 4,00 3 Hours - 4 Hours $ 4A0 $ 4.00 d Hours - S Hours $ 5.00 $ 5.00 5 Hours - 7 Hours $ 6.00 $ 5.00 to 6 Hours; $6.00 to 7 Hours 7 Hours - 9 Hours $ 7.00 $ 6.00 9 Hours - 11 Hours $ 8.00 $ 6.00 l 1 Hours - l3 Hours $ 9.00 $ 6.00 to 12 Hours; $7.00 to l3 Hours 13 Hours - 18 Hours $12.00 $ 7.00 18 Hours - 24 Hours $15.00 S 7.00 JUL 1;~ ''1~t r yrl rn~~ . 2. Premium Service Fees Gold Pass Program - Price: $750.00 per Season (to be reviewed annually) Conditions and Limitations: o $25.00 deposit at time of purchase. o Valid at VTC and Lionshead parking structures. o Guaranteed space availability. o Unrestricted in-and-out privileges. o Unrestricted during all times. o Sales restricted to first 150 requests. 3. Discount Parking Fees Blue Pass Program Price: $200.00 per Season (to be reviewed annually) $ 70.00 per 1/3 Season (to be reviewed annually) Conditions and Limitations: o $25.00 deposit ai time of purchase. o Sales restricted to Vail residents, employees, and property owners (except time-shares) having appropriate identification. o Not valid at the vTC during the season (approximateiy December FS to Iviarch 30) between the times of 6:00 A.M. to 3:00 P.M. o Yalid at Lionshead at ail times during the seasoa. o Ford Park is recommended to be converted to an equipment controlled, Blue Pass only parking facility. Biue Passes are valid at all times during the season and Biue Passes are required to access the parking lot. 4NALYSIS AND ALTERNATIVES CONSIDERED The foregoing recommendations of the Parking and Transportation Advisory Committee were developed after several control options were reviewed and a variety of pricings structures were considered. The Basic Parking Rate Structure generally increases parking costs for long term porkers (5 hours or more) while maintaining existing parking costs for short-term porkers including the 90-minute free parking period. JUL 1 ~ ' SC7 7 ~ 44 FH~,aE . ~~E~4 fir. I Several purposes are served by the recommended parking rate structure: o The free parking period is intended to accommodate the needs and convenience of locals. Additionally, however, other aspects of the Comprehensive Parking and Transportation Plan for the Town will likely result in recommendations for greater vehicle restrictions in the Village core for which the 90-minute free parking period will serve as a viable alternative. o The length of the free parking period was found to be of lesser significance relative to revenues since all parkers who exceed the free parking time limit are charged the basic $ I.00 per hour rate for short term parking. o The change in the basic rate structure from $1.00 per hour to $0.50 per hour which occurs after 5 hours, is intended to accommodate day skiers and other visitors who desire to extend their stay in Yail for various reasons such as shopping, dining, and entertainment. o The significant increase in the 24-hour cost of parking is intended to discourage extended overnight parking. The price of the premium service Gold Pass was arrived at after an extensive review of a broad range of pricing options. At the Current rate, the daily parking cost is approximately $3.00 to $3.50 over a f 50 day season which makes the Gold Pass significantly underpriced considering that a parking space is guaranteed at all times with unlimited in-and-out privileges. Not only is the daily parking Lost !ow in comparison to the basic parking rate structure but virtually no charge is assessed for the premium service provided. Thus, an annual charge of $750.00 (approximately $5.00 to $5.50 per day) was recommended as more closely representing the true value of the Gold Pass. The discount parking program primarily constitutes a change iA administration while maintaining the existing parking revenues generated by the existing Blue Passes and Parking Coupons. The recommended Blue Pass Program combines the parking discounts provided through Blue Passes and coupons into a single mechanism which is easier to administer and improves revenue control. Because tha cost of parking with a Blue Pass is approximately the same as with parking coupons over a 150 day season, the primary advantage of parking coupons is that they replace the one-time, out-of- pocket cost of $200.00 for a Blue Pass with smaller, more affordable increments throughout the SeaSOn. Therefore, the recommendation is made to also offer Blue Passes in 1/3 increments (50 days) at a cost of $70.00. . ,.~,.,,,.r 1990 SUMMER BUS RIDERSHIP STATISTICS SUMMARY Village - Lionshead Shuttle Late Night Passengers carried 1156 Hours of service 58 Passengers per hour _ 20 Cost of service per hour $40.00 Cost per passenger $ 2.00 Outlvina Routes Extianded Service Passengers carried 4454 Hours of service 308 Passengers per hour 14 Cost of service per hour $45.00 Cost per passenger $ 3.11 Frontage Road Exbress Service Passengers carried 748 Hours of service 133 Passengers per hour 5 Cost of service per hour $45.00 Cost per passenger $ 8.00 s' T fi`r'' 7` w~ ~ Iit i ~M yT 4cAr~,1'w { Y}~- 1 Y'\ M'~ t T 1~ v~ i t, ~YI~Y`90. t~i~Y~~~F. ~ ' f ~ ~ .'~li"w.t'~' "'rc , v+^~~ ~ r4~ ~ ~ i t tY b G x ~'~'~<a.`S + C"XX.~~",.~ ~ R ~ . ~K~ su r X ~ s i p O Box. , 1658 . - .~h ~ 3,~.~,~ { tx~ ~,~h~ x~~{: °`~"`Va~ C orado.8 < ~ry_=- g f" 3 ;d~ K ~ a s} Y"yli ~ M*m~' ~.'n y~^p, JN `3~'fS~. r ` .tt ~7€ J~~~ ~=vc~,i ~ ~y ~-~5^'+57'~TF. '~s''1 ~,-"IIrs~ y =J~7~,., J" r4 r'a - . ,c ~ G+~ ~ i .s- ~s a. - _x`'.. i ^c -c : •p k~ ~ Y~i, c ~~yy .any. .r! r , r x p.. ~ r~ ~'rft a Y fs,. ~;c. if .a x <le 3' I'Y.~~4' '3 a~ , Jy ~ i>nf., a ~ ,.r.+l r f?'3 ~ r. 5 ~ r 45~~, a , s~. ; , - ~ MISSION By CONTINUALLY SAVED THE THE MISSING PROBABLY WHERE-ABOUT5 OTHESE CALLS AND SECONDLY, PHYLLISCONFIRM THE pHyLLIS MADE WERE CALLS TOWAS NOT UNTIL THE CAR THAT WE G PHONE MAKE OF IS VERY GOOD MAKING VEHICLE. IT THE CRITICAL A:,~ SHE PARTY S GIVE US RIGHT ARE WAS ABLE TO WERE SEARCHING THE EVEN SURE WE TO FLy OVER US AND THOROUGH. GET A HELICOPTER THE RELI- ABLE TO BE PRODUCTIVE. VAIL WE WERE THOUGHT MIGHT TOO. THIRDLAr PATTERN WE ON MT. 3TCpF THE' MISSION AND SEARCH PARTY ALSMOST THAT PAR OUR RADIOS WERE SppTTED THE A KEY ROLE IN SOME OF COVER US COPIER PLAYED OVER 24 HOURSrVAIL DISPATCH TO DOING ASS WE HAD BEEN OUT FOR BUT THERE WAS HELICOPTER WAS OUT. WHILE THE WERE ABLE TO STARTING TO GIVE INFORMATION pHyLLIS WE HELICOPTER CRITICAL WITH THE HEWN AND RELEASE THE By RELAYINGpATTERN. ZTS SEARCH AREA THE PARTY WA5 PINPOINT THE TASK. HERE IN VAIL FROM THE HAZARDOUS MOUNTAIN RESCUE BEEN HELPFUL WITH ALWAYS THE ABOVE BEEN INVOLVED STAFF HAS THAT TIME. PEOPLE: I HAVE THE VAIL DISPATCH DURING GROUP OF 1982- EVERY MATHE NORM FOR THAT SINCE PEOPLE AND PNTFpFSTHEZI~ ACTIONS IS ION BUT I THINK THE ALSO ACCOU EVERY MISS BUSINESS SHOULD THEM AFTER THAT RUN THE TOWN WE THANK OTHERS HAVE. ' LIKE YOURSELJUSTDHOW GOOD A DISPATCH WE BE AWARE OF SINCERELYr ` PRESIDENT ' es through rescue and mountain safety education p volunteer orSanizattOn dedicated to sawing hu .7 ~'a. MYy 5 1.:~ ('Y r ' ' 1 p`1990 I ~ ~4 y. ,F F F ~ .T Y ~ 9^~ ~C ~~2 ~ t ~ ,fir _ ~ .a S. <a,~'~.ry; ~ r .,yt~1 ~ aV- ~ ~eSC~en„kClr~u r Y J P . • r4 ~ ' . °tn ~'~i~R`"~''"~`~•-- ~ Pe tc~'"t' ~'^.~r~;-'°`^ i . r~~~sSJ, • a i .1 ~ ~ j ' ~ ~ y' ~Va I; Colorado 81658 ~ ir~:t ~ ~ 1 d ~Y- vr~. s ~ N, . a s wf~,} ~t t } 'f9 tC~t ti, - t A3 ~ _ F i C- u tl 1 ~d~y~'~~ ~~'t L - ~ t ,T a'e" JULY 26, 1990 DEAR MR. PHILLIPS, AS YOU ARE PROBABLY AWARE, OUR RESCUE GROUP HAS BEEN VERY BUSY WITH MISSIONS THE MONTH OF JULY. NOW THAT THINGS SEEM TO HAVE CALMED DOWN A BIT IN THE BACK-COUNTRY, I HAVE A LITTLE MORE TIME TO CATCH UP ON THINGS. I JUST WANTED TO TAKE THE TIME AND COMMENT ON A FEW THINGS. OUR GROUP IS ALERTED AND PUT INTO MOTION BY THE PAGING SYSTEM AT VAIL DISPATCH. ALSO DURING MISSIONS WE WORK CLOSELY WITH THE STAFF OF THE VAIL DISPATCH CENTER. WE CAN BE TN RADIO CONTACT WITH THE VAIL DISPATCH CENTER FROM ANY LOCATION IN EAGLE COUNTY. ON JULY 8TH AND JULY 9TH OUR GROUP WAS CALLED OUT ON BACK TO BACK MISSIONS IN THE HOLY CROSS MOUNTAIN AREA. AFTER EVACU- ATING ONE PERSON FROM THE MISSOURI LAKES AREA ALL OF SUNDAY NIGHT WE WERE ASKED TO LOOK FOR THREE OVERDUE HIKERS FROM DENVER ' ON HOLY CROSS MOUNTAIN ON MONDAY. ' THE MISSION ON MONDAY WAS VERY DIFFICULT DUE TO THE LACK OF INFORMATION PRESENTED TO US BY THE MOTHER OF ONE OF THE MISSING GIRLS. IT WAS ALMOST LIKE TRYING TO SOLVE A MYSTERY. ALSO OUR RESCUE MEMBERS WERE VERY TIRED AND HAD NOT SLEPT OR EATEN IN SOME TIME. I - AS TT TURNED OUT WE DID LOCATE THE THREE LOST HIKERS LATE MONDAY AND ALL TURNED OUT FINE. THERE WERE THREE REASONS WE WERE ABLE TO LOCATE THEM AND THE MISSION WAS A SUCCESS. OTHERWISE THE THREE WOULD HAVE SPENT ANOTHER NIGHT OUT WITHOUT FOOD, SHELTER, AND CLOTHING AND THINGS MIGHT HAVE NOT BEEN FINE. THE VAIL DIPATCHERS DID AN EXCELLENT JOB OF CHECKING LICENSE PLATES, MAKING CALLS, NOTIFYING PERSONNEL, AND RELAYING~RADIO TRA- FFIC FOR THE TEAMS IN THE FIELD THAT COULD NOT TALK TO EACH OTHER BECAUSE OF THE REMOTE TERRAIN. I CAN NOT, WE CAN NOT THANK THEM ENOUGH!!! A volunteer organization dedicated to saving lives through rescue and mountain safety education RESOLUTION NO. 8-1990 A RESOLUTION CONCERNING CURRENT PRACTICES BY THE FEDERAL GOVERNMENT IN THE ACQUISITION AND TRADING OF PUBLIC LANDS WHEREAS, much of Grand County and the Colorado Headwaters Counties are under the control and ownership of the Federal Government; and, WHEREAS, the Town of Grand Lake, and other municipalities in the Colorado high country, have the right and responsibility of regulating land use within and adjacent to the municipal boundaries; and, WHEREAS, Federal agencies are petitioned from time to time by private individuals wishing to acquire certain Federal parcels found to be desirable; and, WHEREAS, upon occasion, individuals seeking to acquire Federal ` parcels have sought to bypass the administrative process by seeking direct Congressional action; and, . WHEREAS, such Federal land trades or acquisitions may be contrary to the municipality's master land use plan; and, WHEREAS, the Town of Grand Lake strongly believes in the principle that local land use decisions are best made at the local level. NOW THEREFORE BE IT RESOLVED BY THE GRP.ND LAKE BOARD OF TRUSTEES: THAT the Town calls upon Federal agencies to work with local governments adjoining Federal lands whenever said, lands are proposed for exchange or trade; and, THAT the Federal government honor and respect the municipality's adopted master land use plan for the public and private property within and adjoining the municipality; and, THAT members of the Congressional delegation are respectfully requested to refrain from introducing private bill legislation authorizing trades or exchanges of Federal property which are contrary to the local government's land use plan; and, . THAT the Federal government should allow and permit only those land trades within and adjoining municipalities specifically endorsed and approved bar the municipality. DULY MOVED, SECONDED AND ADOPTED BY TIDE BOARD OF TRUSTEES OF THE TOWN OF GRAND LAKE, COLORADO THIS 23RD DAY OF JULY, 1990. Votes Approving: 6 ( S E A L) Votes Opposed: 0 Absent: 1 Abstained: 0 ATTEST: TOWN OF GRAND LAKE ~ ~ ~ ~ - Linda Rusciolelli, / ~ Gene M. Stover, Town Clerk Mayor , y NORTHWEST COLORADO 1~~~ COUNCIL OF GOVERNMENTS , ''Ua0 i j ~ ~ V ~JJ Post Office Box 739 Frisco, Colorado 80443 Frisco 303 668-5445 Denver Direct 303 573-7611 MEMORANDUM To: Eagle County Towns and County Planning Departments; Eagle Area Libraries From: Sandy Blaha, Associate Executive Director Re: Eagle County Housing Needs Assessment Date: July 27, 1990 I have enclosed the final results of the Eagle County Housing Needs Assessment. This is the only copy your will receive. Please put it in a labeled binder to keep the report in good shape so that it can also be reviewed by any member of the public upon request. Questions about the interpretation of the report should be directed to Chris Cares at Rosall, Remmen and Cares at 449-6558. If you reprint the study, I suggest a cost of $25.00. A master copy of the cross-tabulations is located at the Town of Vail and Eagle County Planning Departments. Eaglo County:Avon, Basalt, Eagle, Gypsum, Mlnturn, Red Cllff, Vall, • Grand County:Fraser, Granby, Grand lake, Hot Sulphur Springs, Kremmling, Winter Park, • Jackson County:Walden, • PBkln County:Aspen, • RoultCounty:Hayden, Oak Creek, Steamboat Springs, Yampa, Summit County:Blue River, Breckenridge, Dlllon, Frlsco, Montezuma, Silverthorne I I r '1 he Eagle County Housing Needs Assessment May, 1990 Prepared For: The Eagle County Recreation and Affordable Housing Task Force and The Northwest Colorado Council o f Governments Prepared By: Rosall Remmen and Cares, Inc. Boulder, Colorado 303/449-6558 I ' ROSAII REMMENCARES ?~~way J~BU+ MYr+ u1: q 5t •N(,« . TABLE OF CONTENTS } OVERVIEW AN OVERVIEW OF THE RESULTS 1 INTRODUCTION 1 KEY FINDINGS FROM THE STUDY 2 TOTAL NEED IIV EAGLE COLUVTY 3 EAGLE COUNTY HOUSING NEEDS ASSESSMENT DVTRODUCTION 1 REPORT ORGANIZATION 2 EMPLOYEE HOUSING STUDY 2 CilItRENT ESTIMATE OF POPULATION AND THE EXISTING INVENTORY OF AVAILABLE Ho(ISING 2 A CURRENT INVENTORY OF HOUSING UNITS 5 THE DISTRIBUTION OF RESPONDENTS 6 THE CURRENT SITUATION MEASLIiLED THROUGH SLUtVEY DATA 7 DEMOGRAPHIC PROFILE OF RESPONSES 9 PLANNING MEASURES 17 HOUSIIJG COST INFORMATION 17 INCOME LEVELS 18 RENTAI~OWNED HOUSING 21 OWNERS 23 EMPLOYEE HOUSING -INTEREST AND ATTITUDES 23 PREFERENCES 27 TA81.E OF CoNIfN15 -PACE 1 TABLE OF CONTENTS ~ ~ r AMENTf1ES 29 ' COMMUTING PATTERNS AND THE USE OF THE AUTOMOBILE I 31 RESPONSES FROM RESIDENTS OF EXISTING AFFORDABLE HOUSIIJG 33 CHILD CARE SERVICES 33 i THE EMPLOYERS SURVEY RESULTS 35 i EMPLOYEES PER SQUARE FOOT VARY BY BUSINESS TYPE 3S i TOTAL EMPLOYMENT AMONG SURVEY RESPONDENTS IN WINTER 1990 36 MANY EMPLOYERS REPORT THEY DID NOT OFFER JOBS TO SOME WITHOUT HOUSI1uG 37 MEASUREMENTS OF FUTURE EMPLOYMENT 37 EMPLOYEE HOUSING 38 THE DIFFICULTY WIfH YEAR-ROUND FUNDING OF UNTfS 39 THE OPEN-ENDED COMMENTS 41 INDEX OF TABLES AND FIGURES ~ ~ Paee No. 1 STATE AND COUNTY POPULATION ESTA~IATES » 3 2 LABOR FORCE EMPLOY1uSEN'T DATA 4 3 SEASONAL VARIATIONS IN LABOR FORCfi 4 4 POPULATION AND DWELLING UNIT IIVtVnINIATION COLARADO DIVISION OF LOCAL GOVERNMENT ~ 5 .I 5 DWELLING UNTIS BY GEOGRAPHIC Svs-ARFA RRC 1990 RFSEARCx ...............................................l.............. 5 6 GEOGRAPHIC DISTRIBLmON OF EMI'IA1lEE SURVEY ~ 7 7 PROBLEM OF FINDING AFFORDABLE HOUSING BY SUB-GROiJP 8 TABS OF COMflV75 -PAGE 2 ~ I ti TABLE OF CON i ~irTTS v 8 DiFFlCULTY IN F>rlDUVG AFFORDABLE HOUSING 9 9 PERSONS PER UNIT AND AUTOMOBILES PER UNIT BY UNIT TYPE 17 10 SUNAZARY OF AVERAGE RENTS/MORTGAGE PAYMENTS BROKEN DOWN BY SUB-GROUPS 18 11 INCOME BREAKDOWNS BY OWNERS/REtvirxs AND SEASONAL/PERMANENT WORKERS 19 12 GROSS HOUSEHOLD INCOME EXPRESSID AS A RATIO OF TOTAL COST OF HOUSING 20 13 INCOME BREAImOWNS: GROSS HOUSEHOLD INCOME E)rnRESSID AS A RATIO OF TOTAL COST OF HOUSING - REty t r.?cS ONLY -BROKEN DOWN BY INCOME 20 14 SIZE OF UNIT AND RENTAL/MORTGAGE COST COMPARID 23 15 WOULD YOU LIVE IN HOUSING OWNED OR MANAGID BY YOUR EMPLOYER? 24 16 IF EMPLOYEE HOUSING WERE PROV u~nU, WOULD YOU RENT/PURCHASE THERE? 24 17 CURRENT RESIDENCE LOCATION COMPARED TO FmsT CHOICE RESIDENCE LOCATION 28 18 AVERAGE NUMBER OF AUTOS 31 19 CURRENT TRANSPORTATION TO WORK AND INTEREST IN "PARK AND RIDE" 32 20 LOCATION OF HOME RESIDENCE BY LOCATION OF PRIMARY jOB 33 21 CHILD CARE USE BY COMMUNITY AND DAY OF WEEK 34 22 EMPLAYERS SURVEY R~rV1JSE DISTRIBUTION: % OF RESPONDENTS BY LOCATION 35 23 MAjoR BvsiNlsS SEGMETrts 36 24 EMPLOYMENT LEVELS INDICATID BY THE EMPLAYERS' SURVEY 36 25 EXPERIENCE WITH jOB OrrnnS IN 1990 EMPLAYERS SURVEY RESPONDENTS 37 26 CURRENT AND I~VIURE (1992) EMPLAYMENT ESTIMATES EMPLAYERS' SURVEY RraivNDENTS 38 27 RATINGS OF THE IMI''ORTANCE OF VARIOUS FAQ. l V,~S IN EMPIAYEE HOUSING 4O TABLE OF CONII~NIS -PACE 3 TABLE OF CONTENTS j r I v FIGURE 1 SATISFAC'ITON WITH RESIDENCE BROKEN DOWN ' BY LENGTH OF TiNtE IN THE REGION 8 i FIGURE 2 RANK ORDER OF AMENIIIr~ AND FEATURES BY OWNERS AND RENTERS i 30 it ~I i i TABLE OF CONT~NtS -PACE 4 t . y AN OVERVIEW OF THE RESULTS IMRODiJCT10N The issue of affordable housing for resort employees is not new in Eagle County. Periodically, over the past two decades, the problem has emerged and been addressed in various ways, only to diminish in time as new building cycles resulted in a surplus of units relative to demand that temporarily served workers' needs until they were "absorbed" into the marketplace. The annual cycle of winter peak occupancies, followed by slack summers, helped to further reduce the perceptions and extent of the problem. Finally, there were the workers themselves. With a large component of seasonal workers residing in Eagle County for six months or less, many of whom were in the region for a single season with no intention of staying longer, there was a willingness to sacrifice quality of housing to simply be in a resort setting and a part of the "action." Gradually, many of these market forces changed and pressures mounted until, during the 1989/90 ski season, there came a new and greater awareness that affordable housing had again emerged as an important issue. The decision was made to study the local situation through a "housing needs assessment." This report introduces the methodology used in the study and summarizes the local housing needs that were identified. The 1990 study concludes that there is a widely-held perception that a "problem" now exists, with both employees and employers calling for attention to the problem and action-oriented solutions. The study also concludes that the problem in 1990 is the result of several different factors. Some may be cyclical but others are not, at least in the short-term. These causes of the Eagle County problem should be understood from the outset. To a certain extent they help to develop the context for understanding and evaluating both the problem and the appropriate range of solutions. The causes of the housing shortage in Eagle County include: • The decreasing supply of workers in the 18 to 24 year old range that has historically been the source of a significant component of the ski industry labor force. By 1995 there will be approximately 5 million less persons aged 15 to 24 than in 1980. • With decreasing supply has come reliance on older workers. These workers have different demands and aspirations than their younger counterparts. • Improved summer tourist activity has further exacerbated the problem. There are needs and opportunities for ayear-round work force, with corresponding declines in seasonal labor that leaves the County for the summer months. • Improved market conditions in the resorts has resulted in increased demand for lodge-type units for the visitor. Long-term housing has been converted to short-term, and rent increases for the remaining inventory of available local resident housing have occurred. • The strength of the market has resulted in increased construction activities. Construction workers place added and special demands on the housing stock • Changes in the tax laws in 1986 changed the dynamics of second-home and investment real estate, further constricting the supply. • R05411 RE'~1ME1 C ORES The survey results allow Eagle County to be compared to several other counties where r skiing is a dominant economic force. By at least one measure, Eagle, County's problem' is more severe than that found. in other Colorado counties, including Eagle, Summit and San Miguel. Housing is considered to be a major problem by a majority of respondents, with about 39 percent calling it "critical" compared to between 20 and 30 percent calling it critical in the other ski counties where similar research was performed. (Note: In Blaine County, Idaho (Sun Valley/Ketchum), 39 percent also identified the problem as "critical") The surveys permit the extent of the problem to be quantified for the County as a whole, and for sub-areas of the County. The data have been broken out in ~ a variety of ways to show results, including those describing household demographics and housing preferences, and these findings are summarized in a variety of formats. Several "Profile Sheets" are presented in the attachments to the full report. They summarize selected statistics that describe the foIlowing key segments of the local population: owners and renters, seasonal and year-round residents, and households with and without children. In addition, breakdowns of results from several of the incorporated towns in the County are presented. Demographics and some preferences for housing are summarized in the charts. The results also allow rents and income levels to be considered. I KEY FINDINGS FROM THE $TCIDY The study was designed to collect information that would serve a variety of users. Its primary purpose was to quantify the housing needs in Eagle County. Secondarily, it was also intended to systematically gather current local data that had generally not been available. A number of topics are addressed in the full report, but several key findings were obtained that should be of general interest. These include: • The overall local population has aged since 1984 when a 'similar study was done, is more often marred, and has become less transient. The desire to stay in the region "indefinitely" is up, resulting in different housing needs and aspirations. • Seasonal workers, those that are only in Eagle County for a part of the year, appear to be. in decline (although there is little doubt that surveys under- represent this component of the local work force). However, seasonal work schedules are frequently indicated in the surveys. Irregular work habits are common, and there is a tendency for a significant segment of the winter population (over 30 percent) to hold multiple jobs; these are two very significant forces locally that have implications for housing; including desired locations and the ability to qualify for home financing; regional transportation; child care; and a variety of other aspects of local Life. While poorly and incompletely understood th the past, these attributes of mountain living call for careful consideration and suggest that new defuutions and measurement techniques are needed if workers in tourism-based economics are to get fair treatment in qualifying for loans and/or housing subsidy monies. • In a related finding, the percent of the renter population paying over 30 percent for housing is high - in excess of 35 percent of all employees. While this group is in "need" when measured by traditional formulas, there is evidence to support the conclusion that paying relatively ,more for housing is a fact of resort living. Other household expenses including recreation and 2 _ Rp54ll RE~1~1E1C4RE5 i I i ~ r entertainment may be less than in traditional communities. Again, new measures and definitions may need to evolve to adequately represent the resort situation. • Transportation and child care issues are closely related to those of housing in Eagle County. The presence of children in a household results in very different perceptions and priorities regarding both household amenities and the preferred community in which to live. Similarly, seasonal workers have different priorities from the population as a whole. In a broad generaliution, seasonal workers desire to be in Vail, while households with children are indicating a preference for locations Down-Valley, including Eagle Vail, Edwards and Eagle. • Employers are having an increasingly difficult time in recruiting and successfully filling employment needs. A higher than desired portion of jobs remain unfilled, and the shortage of available housing resources is one of the primary causes attributed to this situation. • There exist distinct differences in the perceptions of desirable locations and housing types within Eagle County by various types of workers and demographic sub-types. For example, married households, particularly those with children, tend to prefer lower density, quieter, and less expensive Down- Valley locations. Singles and seasonal residents on the other hand tend to prefer more convenient close-in housing located within Vail. TOTAL NEED IIV EAGLE COUNTY In sunnmary, the analysis that is more fully documented in the report leads to the identification of several different components of housing need. These estimates are expressed below as ranges that can be used in discussions by local task forces. The decision was made to provide numbers that 'bracket" the problem on the high and low ends. A decision concerning which measures to use, and what level of public and private involvement is needed to address the problems should be forthcoming as a result of local discussions. The surveys provide an indication of the range of needs that exist, measured in both numbers of persons and units. Decisions concerning the types of programs that may be appropriate to address these needs should come from the Committee and from local government officials. Needs are estimated county-wide to be: Measure No. 1 - Employee Survey: Estimates Based On Rent As A Percent Of Income O~ On "Dissatisfaction" • Need based on renter households exceeding 30 percent of total household income for housing and making $59,999 or less: 3,800 persons. (Note that, as explained in the report, $59,999 is a relatively high upper-end income figure. However, the analysis indicates that up through this income level significant numbers of renter households exist and are paying over 30 percent of income for housing.) Based on an average of about 2.32 employed persons per unit, these 3,800 persons represent as many as 1,600 units occupied by persons in some condition of need. 3 R054t1 REM~tE1C4RE5 j . Note: Households meeting this criteria represent approximately ` 24 percent of all survey respondents and it is believed that this r may be an under-representation of the true conditions because of problems of non-response and under-representation of seasonal residents. OR i • Need based on renter households that are "not satisfied" or "very dissatisfied" and making $59,999 or less: about 3,000 persons. Note: Households meeting this criteria represent approximately 19 percent of all respondents. From these two measures, generated from the Employee'Survey, we estimate need for assistance by current employees to be between 3,000 and 3,800 persons, depending upon the definition of need that is chosen. Remember that the majority of these individuals .are already in housing. Their need is for rent assistance, income enhancement, or amore acceptable living situation, and not necessarily new, units to be added to the current stock. However, it is important to note that some new units will generate benefits for all. There is additional support for the needs of this group based on the high incidence of crowding of units (people sleeping on couches and floors and sharing bedrooms) that was found. To bring this into more acceptable balance would also require additional units being provided within the system. This dumber of individuals represents between 1,300 and 1,640 ,units if the individuals are housed according to current averages of ;about 232 employees per unit. Measure No. 2 -Individuals Turned Away This Season • Individuals that were turned away this season and either did not take a job or were not offered a job due to lack of housing: as many as 1,000 jobs or an estimated 740 persons county-wide based on the Employer's Survey, or approximately 320 units. ~I Measure No. 3 -Individuals Added To The Work Force As A Result `Of Regional Growth • Employees that are expected to be added to the work force ~in the next two years based on the Employer's Survey: about 880 individuals or 380 households. Measure No. 4 - A Final Measure, Based On Numbers Of Jobs That Went Un~Iled In 1989/90 The Employer Survey also documents that a large number of employers had vacant positions throughout the winter season. This figure was at 400 jobs among the survey respondents, or we estimate as many as 600 ~ employees 4 R054E1 RE ~1ti1E V CARES I • ~ coun wide. A review of the industries and em to ers shows that the probe was widespread. All the categories of business were~~ indicating ,openings. These vacant positions represent one final measure of need that was felt this season and that we expect to continue if there are no programs . or new efforts made to reduce the problem. The conclusion from the analysis is that the current and neaz-term expected need for housing units in Eagle County is between 3,000 and 3,800 persons requiring some level of assistance if traditional measures are used. In addition, there is a need for approximately 800 new units over the next two yeazs, if the estimates of units demanded through Measures 2, 3 and 4 are totaled. It should be noted that construction planned for this summer may address some of the local need. However, commercial and residential construction that is occurring will also be generating additional employment, which in turn adds to housing demand. Based on what is known about local projects for the 1990 summer season, it is expected that the deficiency in affordable housing will grow worse in Eagle County, rather than better, by the fall of 1990. In Eagle County there is an opportunity to consider importing greater numbers of workers from surrounding communities. Leadville, and to a lesser extent Glenwood Springs, represent established communities where underemployment has been a factor during the winter months. Reliance on large nurriben of workers that commute to and from the resort communities raises a number of policy questions that involve both practical and philosophical issues. Nevertheless, the resource and potential that these communities represent must be identified as housing issues and needs are addressed in the current and long-term. The unfilled jobs represent a further consideration as local leaders and businesses plan for the future. In a largely service-based economy, where guest experiences are important to satisfaction and the intent to return, a sizeable inventory of unfilled positions may signal some erosion in the quality of guest experience over time. These results should be noted and the number and type of unfilled positions should be monitored during the summer season, as well as next winter. The data suggest that an additional 800 to 1,000 units would be absorbed by the Eagle County winter market over the next two to three years if these units can be brought on- line at rents or prices that are within the limited means of County residents. However, as will be explained in the following sections, the financial capacity of local residents is extremely limited. These estimates are based on the 400 unit figure identified in the discussion above, based on Measures 2, 3 and 4 with up to 800 additional units of demand attributed to residents that are presently in "need" as a result of excessive costs or dissatisfaction. With respect to housing preferences, single-family owned units are still the "preferred choice," but many respondents are identifying other housing as their first choice. Apartment/ condominium units have a strong following among seasonal workers, especially if a number of them are located in Vail. Three-bedroom units are most preferred (by 44 percent), followed by two-bedroom units (36 percent). One-bedroom and efficiency units are generally not a popular housing type in Eagle County (6 percent calling it "first choice'). 5 RC)SAII RE~1~tE'.C4RE5 f } A number of residents of the County currently live in and accept they idea of employer- assisted housing. About 28 percent would live in housing owned by and managed by their employer; an even greater 41 percent would consider renting or purchasing in an employee housing development. The percentages that indicate interest in employer- provided housing are slightly higher than the figures obtained in the other ski counties, and provide a strong indication by many of willingness to accept employer-provided units as a part of an overall program. One relatively simple table is used to summarize the marketplace for "affordable" housing in Eagle County. The table is based on the assumption that the portion of the marketplace in greatest need of assistance is renters, rather than persons currently owning units. Further, it assumes that persons with household incomes above' $59,999 are not in need of direct assistance. As summarized on the following page, the household income distribution of Eagle County renters is varied. Incomes do not cluster at a single. level, but are spread across the entire range from $7,500 through $60,000. This distribution of incomes has obvious implications for developing housing programs: Different types of programs and assistance are appropriate for the various income levels, and no single income group,or segment of the market should receive all of the attention. i The table also shows that if "need" is measured by percent of respondents reporting paying over 30 percent of household income for housing, there are indications of problems for renters through income level $60,000. At the lower end of the income range, below about $30,000, need is acute. The table also translates household income into "affordable" rents using the 30 percent measure. These figures provide an indication of target income ~ groups, and the percentage of the total renter market that falls within the group in Eagle County, that will be addressed by deve]opments with monthly rents plus utilities of a certain value. For example, the table shows: For a household with income of $17,500 (the midpoint of they $15,000 to $19,999 range), the "affordable" rent p]us utilities is a maximum of $437. An estimated 8 percent of the rental population is at this income level, and 4 out of 5 of these persons are paying in excess of $437 (30 percent) for housing now. The figures in the tables illustrate the rent structures that are necessary to address the needs of a particular segment of the Eagle County population. They also provide an indication of which income groups will likely be served by a particular rental rate. i 6 - ROS4ll REM'.1E~ C.~RES v RENTER INCOME DLSTRIBUTIONS AND A MEASURE OF PERSONS PAYING MORE THAN 30% FOR RENT % OF % OF PEOPLE AFFORDABLE RENTER INCOME LEVELS RESPONDENTS PAYING 30°l0+ ~ 30%/MONTH (at midpoint) $0 - $ 7,499 3 100 $94 $ 7,500 - $14,999 8 83 $275 $15,000 - $19,999 8 84 $437 $20,000 - $24,999 11 84 $562 $25,000 - $29,999 8 48 $687 $30,000 - $34,999 13 39 $812 $35,000 - $44,999 18 18 $1,062 $45,000 - $59,999 17 20 $1,312 $60,000 - $74,999 7 0 $1,687 $80,000 + 8 0 $2,000 A review of the "open-ended" comments from both survey instruments suggests that there is a widely held desire to see the employee housing issue addressed. While there are differences of opinion concerning the appropriate level of government involvement that should take place, or the form of involvement, there is support for targeting the problem and a broad indication that if built, such housing would be well received. The Employers Survey also provides background data concerning the housing that is currently being provided by employers, and the employers' ideas about the extent of the problem and potential solutions. The general conclusion is that, to date, employer- provided housing is limited in Eagle County, but interest in providing some additional units is high. The survey does show that interest in housing programs is much higher in winter than in summer, illustrating the seasonal demand problem that, while diminishing, is still present. The Employer Survey allows the existing situation to be further quantified and permits identification of the needs and priorities that exist. About one-third of employers feel that they .experienced higher turnover this year due to the limits of housing and labor force. When coupled with responses concerning the employees' view'of the polblem, it is clear that there is agreement from both employment segments that there exists a problem and that it is affecting many. 7 ROSAIL REMMEI C.~RES EAGLE COUNTY HOUSING Nnn~ ASSESSMENT JUNE 1990 INTRODUCTION The Eagle County Housing Needs Assessment was conducted by the Eagle County Recreational Affordable Task Force during an approximately three-month period in early 1990. The Committee was assisted by Rosall Remmen and Cares, Inc. (RRC). The study was designed to gather baseline inf.,.Lation on a number of topics related to the issue of employee housing in the region, and more specifically to develop background information to evaluate alternative methods and programs for providing affordable housing. Two different surveys were conducted to gather information on Eagle County. The first, the Employee Survey, consisted of a five-page questionnaire administered through the place of work ~A total of 1,200 survey forms were distributed to employees, with 561 all or partially completed surveys returned for a response rate of 47 percent. The response was improved through an incentive, a drawing good for a variety of gifts that were awarded through a process designed to select winners while ensuring the confidentiality of all respondents. The method of distributing the survey was important to this study. Surveys were administered through the place of work to ensure that residents of a wide geographic area were given equal probability of being selected for inclusion in the study. The method of distribution allows inferences to be made concerning the total novulation of employees and employee households that work in Eagle County. The method ensured inclusion of households that work in the County but live in other counties. By design, workers in the Basalt and El Jebel areas were not included in this study. A second survey was also conducted as a part of the process. It enlisted the participation of local employers in the data collection effort. An Employer Survey was mailed to 600 employers in the County, but 90 were returned "undeliverable." Surveys were returned by a total of approximately 160, for a 27 percent response rate. The employer survey responses represented a total of approximately 9,000 jobs, or over 6,700 employees, or about 40 percent of the estimated County labor force of about 16,000 persons, a far larger percentage of County ~..~rloyees than the 27 percent employer figure. An evaluation of the responding employers indicates that a majority of the largest 30 employers in the County were included in the sample, with all of the largest 10 employers included. This high response level is one indicator of the positive interest in increasing the supply of affordable housing among employers, as well as employees. The large number of "open-ended" comments received from employers on the survey forms is another expression of interest and concern. A further note concerning the sampling technique for the Employee Survey should be made. The 301argest employers in the region were identified and then were systematically sampled to ensure that all employees, as reported by the management, had' equal chance of receiving the instrument. The largest ~...~~rloyers range from businesses to local governments, the School District, and Utilities. The typical employment m these organizations ranged from over 3,000 down to about 40 Ros~u. Rnvn~at C~ PeCH 1 i EAGLE COUNTY HOUSING Nnn~s ASSESSMEI~fiT I , employees. ]n addition, a total of approximately 70 other businesses, scattered throughout the County were also sampled and the surveys were distributed to every employee in these firms. An evaluation of the survey results indicate that the response rates within the vanous organizations ranged upward from about 30 to 70 percent. There is no evidence that the survey failed to reach large numbers within organizations, nor is there any indication that some companies were over represented in the sample as evidenced by disproportionately high response levels. The question of the accuracy of the sample should be considered before presenting the results ~of the investigation. Although the response rate was high for this type of survey, there is the potential for "non-response" bias. In other words, there is potential that the group that did not respond in some ways looks different from those that chose to send back surveys. This potential is always present in surveys and it should be recognized that there are specia]. groups that; for various reasons, may beunder-represented. Nevertheless, the methods employed have obtained a sufficiently large and accurate sample to develop conclusions about housing conditions and preferences in the region. The odds are 19 out of 20 that with this sample size, the actual population distribution for any question will not vary from these results by more than 5 percent plus or minus. The margin of error for subgroups (for example seasonal residents, or residents of just Minturn) would be larger, because these areas represent a smaller sample size. REPORT ORGANIZATION ~ This report represents a summary of findings and conclusions and an overview of the data base that was generated through the study. The relatively complete questionnaire, coupled with the complexity of issues being considered locally, makes it difficult to address all potential topics or data needs. This report introduces the findings from the study; as time goes on the data will be a~~lied to further evaluate ideas, priorities, programs and needs. In other words, the research effort is designed as a tool to aide ongoing decision-making, rather than to drawl specific conclusions about problems and solutions that are only now being brought into focus. The power of the information lies in the ability to break responses down by subgroups. Often referred to as "cross-tabulation;' this technique allows the overall set of responses to be considered in various ways. The overall totals are summarized on the actual survey instnunent, attached to this . tr.,rt. These responses are generally expressed as percentages with the "n;1 or number of responses on a particular question, also identified. A set of cross-tabulations of questions have been provided to the Task Force that break the overall down by communities Nail, Avon, Eagle, etc.), owners and renters, and seasonal and puu~anent residents. Clearly, there are many other possible breakdowns of the data but this format provides a point of beginning for the analysis. i EMPLOYEE HOUSING STUDY j I CtlItRENT ESTIMATE OF POPULATION AND THE EXISTING INVENTORY OF AVAILABLE HOUSING The Housing Survey r.~.rides a source of data concenung households spread throughout Eagle County. As is evident from the table below, Eagle County has grown 64 percent in population over the last 10 years, based on information provided from the State Demographer. The 10 year growth was second only to Summit County. However, growth in the last five years has exceeded the other counties displayed to achieve a 21 percent growth rate. ~ i I Ros~u. RE~1 C~ PACE 2 • , EAGLE COUNTY HOUSING Nrrus ASSESSMENT TABLE 1 STATE AND COUNTY POPULATION ESTIMATES 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 POPULATION: COLARADO 2.908M 2984M 3.072M 3.148M 3.189M 3233M 3265M 3293M300M 3317M 3373M 96 Change (Yr-to-Yr) 26 294 250 1.30 135 1.02 0.85 0.21 O51 1 b9 96 Change (5•Yr) 11.14 4.34 96 Change (10-Yr) 15.97 EAGLE 13,481 13,812 15,461 16,089 16,952 18,270 19,155 19,38519,986 21,387 22„143 96 Change (Yr-to-Yr) 246 11.94 4.06 5.36 7.77 4.84 120 3.10 7.01 353 96 Change (5-Yr) 3552 21.20 % Change (10•Yr) 6425 ROUTT 13,438 13,575 13,948 14,135 14,632 14,672 14,420 14,53614,508 14,803 15,168 96 Change (Yr-to-Yr) 96 Change (5-Yr) 338 96 Change (10-Yr) 1287 SUMNIIT 8,952 9,366 10,277 10,704 12,635 13,680 14,290 13,54113,795 14,218 14,757 96 Change (5-Yr) 7.87 96 Change (10-Yr) 64.85 ri i ~u~T 1087 10,085 10,334 10,653 11,398 12,140 13,021 13,30713,539 14,108 14,550 96 Change (Yr-to-Yr) 96 Change (5-Yr) 19.85 96 Change (10-Yr) 41.44 Source: State Demographer. In reviewing the employment data table on Eagle County, a fairly consistent growth pattern for the last 10 years is displayed, aside from a slight dip in 1986. The relatively high unemployment in the first half of the eighties was due in part to a generally soft West Slope economy, the result of the loss of jobs in mining and oil shale, and to the weakness during the summer months. Over the last four years, growth on a percentage basis has been positive while the unemployment rate has steadily declined. With the growth of the county, both in population as well as commercially, and the constantly growing and changing ski industry, the ability of residents to seek a wide range of r....~loyment opportunities has greatly expanded. The current. Eagle County labor force is estimated to be approximately 16,000 people based on State data obtained thmugh unemployment information. There is an annual unemployment rate of 23 percent (given some seasonal variations). The employment centers within the county are experiendng a tight labor market not only during the winter season, but increasingly during the summer season as well. Ro6AIt RF~9vIEId CARPS PAGE 3 i EAGLE COUNTY HOUSWG'NEEDS ASSESSMENT TABLE 2 i LABOR FORCE ENII'LOYI~NT DATA ~ ~a Change YEAR TOTAL PERCENT TOTAL LABOR FORCfi ANNUAL AVERAGE LABOR FORCE UNFMPIAYED YEAR-TO-YEAR) i 1980 8,914 7.40 1981 9,123 5.60 234 1982 9,950 10.10 9.07 1983 10,879 11.00 9.34 1984 11,582 7.20 6.4b 1985 11,834 6.10 218 , 1986 11,502 7.20 -281 1987 11,757 6.50 ~ 1988 12,567 5.40 6.89 1989 13,374 4.80 6.42 QAN) 1990 16,146 230 N/A Souraz U.S~ Department of Labor; Colorado Departa?a?t of Labor and Employmes?t. it TABLE 3 i SEASONAL VARIATIONS IN LABOR FORCE 1F 1986 1987 19~ ~ 1989 I 1 i 6J~~~iA~?MJJA~bN~JkMAMJJA~bN~J MAMJJ}1~bNbJ~MAMJJA~ YEAR -f- Mlonftiy Err1QloYrnent I _ i Ra6ALL REIrAdFIJ CARES ~ PA® 4 i EAGLE COUNTY HOUSING NEEDS ASSESSMENT The Colorado Division of Local Government -State Demographer - is one source of information on housing units within the communities of Eagle County. This information is based on 1980 data and extrapolated through to today's figures. As can be seen, the State estimates total housing units at 14,688 with a vacancy rate equal to approximately 39 percent county-wide versus 64 percent for the town of Vail. These figures represent one measure of the total housing stock, with the "vacancy rate" an indication of units that are not in use by local residents. Of the total housing, approximately 1 percent is composed of mobile home-type accommodations. TABLE 4 POPULATION AND DWELLING UNIT INFORMATION COLORADO DMSION OF LOCAL GOVERNMENT GL8 OF 1 AVON ~ BASALT ~ EAGLE GYPSi,JM I MII~'RJRN REDC~~ VAIL I iJNICORP~ ~ v ~ AL _ J.. 1~J'1'.'lU'l'ALtiJ1N(i UNl'l 9153 457 61 4'17 >i~l 149 Sy55 S,Z4t3 14,6B2i . LACAL r~rrJ1ATION 1,386 1,040 1,497 1,038 1.583 392 4,552 9,899 2187 .131~.D a,r1s 231 2?A 234 249 247 3.17 214 248 237 VACANCY RATB 38.96 -328 -291 1279 20.1 17.45 64.28 2395 38S . OF PTRMAI~NTI~.~.r~D 600 472 636 416 640 123 2,127 3.991 9,020 . OF SHASONALNCNT~IND Souroe: Srate Dec?ographer. A Ci1RREM INVENTORY OF HOUSING UNITS The survey results may be used to both check the current estimate of Eagle County population against the State Demographer's estimate, and to refine estimates of the local housing stock in use by residents. The data suggest that. the State has fallen behind in current estimates of units that exist th Eagle County. Furthermore,. the State Demographer is using lower per-unit multipliers than are obtained using the current survey-based data f.,,~. Eagle County. TABLE 5 DWELLING UNITS BY GEOGRAPHIC SUB-AREA RRC 1990 RESEARCH OTFiE[t Urrcic BBAVER EAGLE RED EAGLE OTHER TOTAL AVON CRffiC EAGLfi VAIL GYPSUM MINTURN CLIFF VAIL VALLEY UNINCORP. UNITS 1,799 1,591 500 1,276 662 488 75 7,197 1,008 1,080 15,600 • Note The iaventory excludes the ,~,~,..adantdy 900 units in the Basalt/© Jebel area at the w.~v_.. end of Eagle t..ounty. sotn~ RR~, 1990. ROSALL REMDvIEN CARES PACs S EAGLE COUNTY HOUSING N~r,~rs ASSESSMENT As part of this current research effort RRC, through telephone and personal interviews, sought information on the number of housing units throughout the County. This information is also presented above. In summation, the investigation found that 11,315 units currently exist within the incorporated areas of Eagle County as compared to 9,440, as expressed by the State. This discrepancy of 1,875 units is most likely attributable to the estimation methods used by the State in arriving at their fir?al figure. There has been substantial growth in new unit construction in Eagle County over the past decade that is apparently not fully reflected in State Demographer figures. As shown in the two tables, there is variation between the estimates and there is a need to accurately track this data in order to truly understand the number of housing units existing as well as the implications of this available stock on affordable housing. Provided with a more accurate housing count, the ability to more precisely track the local situation for planning and measurement purposes could be obtained. ~ The cu..~..t research suggests that there are a total of approximately 16,500 dwelling units in Eagle - County. Assuming that the remote units at the western end of the County aze excluded (approximately 900.units in the Basalt/El Jebel azea), there is an inventory of 15,600 units available to serve the local resident population, plus the tourist base and absentee owners. The survey- based estimate of local population, obtained by applying survey data to total employment figures obtained from the State :of Colorado, is slightly over 21,000 persons in Eagle County. This population represents approximately 7,300 households, with about 6,420 units in the eastern half of the County. The dwelling units occupied by local residents represent about 40 percent of the total housing stock in the Vail to Dotsero area. An important conclusion from this inventory information is that there is a significant segment of the local housing stock that is not in use by local residents. Indeed, a large portion of the units are owned by absentee landlords and are used as either investment property that are managed for "short-term" and nightly rentals or for occasional of regular personal use. Given the available data f....,~ both sources, clearly the vacant units throughout the county deserve consideration as various strategies ,are considered to better house the local permanent population. Are any; of these units available for long-term use? Can programs be devised that would induce owners of these units to place some of these units in the available long-term pool? The answers to these questions have generally been negative and there are issues related to the supply of guest lodging units available to winter visitors at peak times that must be considered at the same time that programs are considered to further encourage long-term units. The existing stock of seasonally vacant units should be considered as programs designed to address local resident housing needs are being evaluated. T7iE DISTRIBllT10N OF RESPONDENTS Responses were obtained from residents throughout the Eagle County region. The table below indicates that the responses were fairly comparable, while not duectly mirroring the total population figures. A precise comparison is difficult because unincorporated areas are not included in the state data. The data base permits various sub-areas of the County, to be isolated and responses f..,u~ these areas can be examined. Further, it permits "sub-groups" to be examined in comparison to the overall County population. For example, owners/renters, seasonal/permanent (year-round) residents, and households with and without children were all considered in detail. The overall distribution of responses is similar to the results'obtained in 1984 using a comparable surveying methodology. i Rases. RE~n~ CnxFS i PAGE 6 w. ' EAGLE COUNTY HOUSING Nanua ASSESSMENT The survey results indicate that approximately six percent of local workers are commuting from outside Eagle County. Most (almost 5 percent of the total) are coming from the leadville area, with Summit County the second significant source. TABLE 6 GEOGRAPHIC DISTRIBUTION OF EMPLAYEE SURVEY CURRENT* % OF POPULATION TOTAL SURVEYS # OF RESPONSES ESTIMATE Vail Area 32 157 38% Eagle/Nail 14 70 n/a Avon/Wildridge 16 77 9% Edwards 14 70 n/a Eagle 8 41 11 Gypsum 1l 52 9 Minturn 5 25 5 Other 14 68 28 • Based on Colorado State Demographer's Estimate. THE CURRENT SITUATION MEASURED THROUGH SURVEY DATA The Employee Survey shows a perceived problem with the housing market not only from the standpoint of the county as a whole, but also from several sub-groups whose opinions were measured by the survey-based study. As can be seen from the table that follows, 87 percent of total respondents feel there is a problem with finding affordable housing. Renters perceive there is a problem to a greater extent than do Owners or Vail residents, but not by a great degree. Results - are generally comparable throughout the many sub-groups that were evaluated through the survey, there is universal agreement that there is a problem. A comparison of these results to findings obtained th other "ski" counties, the recognition of the problem in Eagle County is relatively high. While 39 percent in Blaine County, Idaho (Sun Valley) also called the problem "critical," this is more than th Routt or Summit County. in Summit County, by this measure, the perception of a problem grew much worse between 1983 and 1990. While no comparable trend information is available for Eagle County, we suspect that recognition of a housing "problem" was at an all-time high in 1990. Ros~w. Re?~~v CaR~s Pace 7 EAGLE COUNTY HOUSING Nnnud ASSESSMENT i ' TABLE 7 PROBLEM OF FwD>ivG AFFORDABLE HOUSWG BY Sus-GROUP % % % % ALL RENTERS OWNERS VAIL RESIDENTS The most critical 39 45 31 ~ 39 One of the most critical 48 47 48 S0 A problem 12 7 19 7 One of the lesser problems .9 .6 1 .6 Not a problem .5 .3 1 .6 As much as there appears to be a problem with housing, virtually 75 percent of the total respondents indicated they were "satisfied" or "very satisfied" with their current residence. This apparent inconsistency is resolved when the data are further broken down. An explanation for relatively high overall satisfaction is the length of time a resident has been th the area, and the amount of income a particular household has at their disposal As the length of'a residence is extended over time, the rate of satisfaction is directly proportional, with the exception of the newcomers to the area.. The respondents that have been in Vail less than three months are relatively satisfied; on the other hand, as a group they are also relatively likely to be staying in the area for only a short time. This is evident in the table that follows. A careful analysis of the data suggests that while those that are financially capable are satisfied, many of these same individuals still perceive the problem as "critical" In other words, there is an apparent recognition by even long-term and upper income groups that housing represents a problem in need of concerted attention and action. , The data suggest there is a need to target some programs towards where the need exists. For example: newcomers (three months to three years) to the area, those that are at ~ the lower level of the income sp«l. sm, and those workers that are seasonal in nature are all identified as groups in need through this analysis. These sub-populations represent a central focus in tte discussion which follows. FYGURE 1 SATISFACTION WTIH RESIDENCE BROI~NN DOWN BY LENGTH OF TbuIE IN TI•tfi REGION i 096 109L 20% 9096 40% 5096 6096 7096 8096 9096 100%I, less Tbar? 3 A+fontln ~~~i~ 3~ MontM s kL ~ co 1 Year - ///////////~J ~ 13 Years - ~ Years III/IIIIL~ s-io Year. ~ ' x 10 Years+ ~ ~ ~ v. oh.~+ee ~ oea ®sa~r~ed o v. sen. ~I RosruL RF1?O~t C~5 ~ P~Ge 8 EAGLE COUNTY HOUSING Nnn~ ASSESSMENT • , Although the satisfaction levels are positive on an overall basis, especially as the respondents exceed 10 or more years in the region, experiences in finding "affordable housing" within the county over the last two years was a difficult experience for most respondents. The table that follows shows this trend on a scale of 1 to 5, with 5 being "very difficult." As illustrated, 30 percent of responses, overall indicated a "very difficult" time in finding affordable housing, with renters having a more difficult time than owners. TABLE 8 DIFFIC[JLTY IN 1~IVDIIVG AFFORDABLE HOUSING % % % OVERALL OWN RENT No Problem= 1 22 41 11 2 11 14 9 3 19 17 21 4 19 10 24 Very Difficult= 5 30 18 36 101% 100% 101% DEMOGRAPHIC PROFILE OF RESPONSES The "typical" resident of Eagle County is portrayed on the attached 'Profile Sheet " It summarizes information describing the "overall" set of respondents. The profile shows: • The average age of the population has changed. In 1990, the average overall age of the Eagle County respondent is approx 34 years, as compared with the majority of those responding in 1984 at 21-25 years (28 percent). This closely follows the national trend; the median age in 1980 was 30 and as recently as 1987, the age was up to 321 years. The aging of the local population is the single most significant demographic trend identified in Eagle County. • The work force is likely to be married (44 percent), but a majority of households still have no children in the home (67 pen:ent). The divorce rate is up sharply from 1984 with 13 percent .tr.,rting they are divorced c.,...rared to 8 percent. • The median household income th Eagle County is $40,000, with median individual income reported to be $20,000. • The number of persons per household is up slightly, county-wide to 2.9 persons from 28 persons. There are, however, significant differences by community. Vail shows the greatest change, going from 205 persons per household in 1984 to 26 persons. • Most residents in Eagle County are year-round (90 percent). • Of those responding, 40 percent plan to stay in the region indefinitely. This question was asked in Eagle County in 1984 and indications are similar to those from other Ros~?[L R~~t GRps PACE 9 EAGLE COUNTY HOUSING Nnn~s ASSESSME[xl'I' areas: the number expecting to stay indefinitely is ,u~ sharply. Furthermore, in 1984, 26 percent responded "don't know" to this question. The figure is now down to 20 percent. There is more certainty about the desire to stay in the region than th the past. This stability is one of the basic shifts that has occurred in the'ipast few years in ski communities. Further, the percent of surveyed individuals who own homes versus rent units have remained the same at approximately 37 percent since 1984. Household income overall has gained in the $30,000 plus range from 44 percent to 70 percent of the population surveyed. This compares with a 1984 total monthly cost for housing typically at between $400-$600 versus a current average expense of $838• The survey measures labor participation by the local work force in a number of different ways. One important conclusion from this study is that it is impossible to make a simple statement that characterizes workers under one stereotype: "permanent" or "seasonal." The data show 10 percent of respondents were "seasonal" when indicated by living in the area "6 months per year or less." However, 20 percent of respondents report they are employed in other than "permanent year- round full-time" positions. About 65 percent of the jobs identified by employers in the Employers survey are other than permanent. Today, in the County, as well as in other ski oriented counties, workers are likely to be working multiple jobs to simply survive. This is the case with overall respondents holding .76 jobs last summer and 1.35 jobs this past winter. The summer average is drawn down by the approximately 30 percent of year-round respondents reporting that they did not work during the summer months. Average hours per week worked last summer were 40; in the winter, 45. Many persons that work at one or more seasonal jobs live in the area full time. The data indicate that they are also likely to be making competitive wages when measured annually, especially because they are also likely to be part of a household made up of multiple wage earners. The high level of work force participation must not be overlooked when considering conditions that are unique to the ski counties. Results show 232 employees per household on average, and among households with children the figure is 2.21, with less than one in five reporting that, with two parents in the household, only one parent is working. These high levels of employment help to also explain the heavy participation in child care programs, described further below. There is s~ ~..g demand for child care services and it is in large part the result of the high levels of labor force participation in Eagle County. i PACe 10 Rosnu. RE~l~t C~ i I . a EAGLE COUNTY HOUSWG NEEDS ASSESSMENT EAGLE COUNTY EMPLOYEE PROFILE APRa, 1990 SOURCE: Rosall Remmen Cares, Inc. ote: tegones may not total 1 ue to pare EX: Male Female cate¢ories, roundin¢ or multiple responses. 47% 53% GE: Under 20 20-29 30-34 354 45-54 554 +65 I% 36% 1996 2996 11% 396 AL Single Married Live Togthr Separated Divorced Widowed ATUS: ~4% 44% 696 296 1~% 196 OUSEHOLD c$7.SM $7.5-$15M $15-$ZOM $20-S30M $30-$45M $45-560M >$6pM COME: Z% 596 496 196 2996 Ip96 22% DIAN HSHLD AVG. MO. AVG. MO. AVG. M0. IN ME: 540.000 RENT/MQR $62$ ~XPEN$E$: $11Q COST/BAR ,>~?79 ULTS CHILDREN HSHLDS.W/ _ HLD: 2~6 HLD: OS6 NO CHLDN: 67 IDENCE IS: Seasonal rermanent TIME IN Less 3 Mos. 3~ Mos. 1-3 Yrs. Over 3 Yrs. 1096 9b% REGION: 3% 11% 14% 62% ENT Vail IeJVail Avon/Wild Edwards Eagle Gypsum Minturn OUS IIVG IN: 28% l3% 1496 13% 796 996 S% IDENCE SF.Hottse Duplex Apt/Condo MobileHm Dorm. Room Other 22% 2096 X7961596 196 a96 2% YOU Own Rent RntRm Caretake Other ENTLY: 3b96 Sp96 296 296 TO STAY c3 Mo 3~ Mo tr12 Mo 1-3 Yr 3-10 Yr >10 Yr DontKnow REGION: 996 396 3% 13% 13% 4096 2096 OUSING Bargain AbtRight TooMuch ALUE: 1596 4S% 4096 ATISFACTTON VerySat Sat Dissat VeryDis VEL: 24'96 SI96 2096 596 YOU Own Rent Lease REFER: 6996 22% 1096 EMPL HSG Rent Purchase Neither Uncertain D: 27'96 14% 396 2786 HOUSING TYPE S.F.Housc Duplex Apt/Condo MobileHm Donn. Cabin Other ST CHOICE: 6796 8% 12% 2% 1096 I 1 % OSTC OICE: 3596 ~ 1 ~ sil Avow ild Ed~ % ~i~ IG~4% I~3% HOUSEHOLD INCOME 1ST. CHOICE -TYPE ao~c A ss~ ~ - lsli - ~ « - log _ ~ b 47 i~S4S1?'I >S60M ~ t.abin o~ f7SS151bI it0~3DM iLSS60M DVCOIVI~ PRrrr~.PTICE f' av®urt f1®cnr~.uraaw ttl• avQUtt tl• c~autrsov N= S60 OVERALL N= OVERALL ROSALL REMMEN CARES PAGE it i EAGLE COUNTY HOUSING Nnnud ASSFSSME~I'I' The findings are important because traditionally some of the measures used to qualify employees or households for various lending programs, including home mortgages, penalize seasonal workers or those that work irregularly. In many of the resorts, these work patterns are a matter of choice and part of a desired lifestyle. They do not necessarily indicate instability or they financial rapacity to support a regular loan repayment schedule. Nor do they any longer signal an employee that is expecting to be in the area for just a short time. The diversity of labor patterns now present in the resort communities demand an enlarged set of measurements and labels to describe households. The demographic and labor participation profile information now available through this recent research should be used to support lobbying and educational efforts to expand the definitions to better describe true mountain community work habits and lifestyles. By all of the measures, Eagle County is now characterized by an increasingly stable and permanent work force, committed to the region and therefore desiring to find regular employment. With these household characteristics comes a demand for a different quality of housing than was once accepted. The shifts in housing, demand and the heightened awareness of housing as an issue are in part explained by the current demographic profile of the work force. While it,would be wrong to characterize the entire work force as desiring permanency and an upgraded living environment, the surveys suggest that there should be .renewed emphasis on the entire spectrum of needy individuals. The single-season employee, generally in Eagle County for a winter ~ only, will also continue to be a force and will require housing assistance. However, programs must address the full range of needs that exist. These needs are supported and quantified through the housing survey data. A series of other profile sheets were prepared that summarize the demographics lof sub-groups of the overall Eagle County population. These sheets are contained in the Appendix. Using a "notation type" format, the results are highlighted below: Households With Children Compared To Households Without Children • Ages of households with children is greater than households without. • Household income is fairly comparable between both groups. • Households with children tend to spend less per month on the average cost per bedroom. • Households without children have more adults per household than those with children. • The majority of households without children reside within Vail, whereas households with children reside in Edwards, Gypsum and Eagle Vail. • Foriy-eight percent of households without children live in apartment/condos compared to the majority of households with children living in single-family homes. • Sixty-eight percent of households without children rent their current residence; 41 percent of households with children rent. • Both groups prefer to own, with an especially strong pref. ~..ce by households with children. i RoSAIL RII,,~ Pace 12 i • ~ EAGLE COUNTY HOUSING Nnnw ASSESSMENT • Households without children prefer to live in single-family dwellings followed closely by apartment/condos. Households with children strongly prefer to live in single- family dwellings. • Households without children prefer Vail and Avon/Wildridge; households with children prefer Eagle Vail, Edwards, Eagle and Gypsum. Seasonal Residents of the Valieu vs. Permanent Residents It should be noted that this definition of "seasonal workers" (six or more months outside the area) is very restrictive. A broader defuution, based on workers that live in the area year-round but work seasonally, may also be evaluated. This definition is profiled because this group of seasonal workers presents a particular problem from the standpoint of housing in that their absence usually requires summer subsidies. • Seventy percent seasonal are single; 47 percent permanent are married. • Median household income for seasonal employees is $35,000; permanent is $40,000. • Average cost per month per bedroom for seasonal is $523; permanent is $366. In other words, seasonal workers appear to be paying a premium for their short duration in the County. • Fifty-seven percent of seasonal workers expect to leave at the end of the ski season; 58 percent of permanent employees have been in the region over three years. • Seasonal employee housing is located predominantly within the Town of Vail. Permanent employees are located evenly throughout the County. • Fifty-one percent of seasonal workers feel they are paying too much for living arrangements vs. only 40 percent for permanent. • The majority of seasonal workers prefer to rent (62 percent); permanent prefer to own (57 percent). • Preferred housing location for seasonal employees is Vail by a wide margin. Permanent employees would consider Vail with Eagle/Nail, Edward, and Eagle equally attractive. Town Of Vail Residents Compared To The Overall Sample Vail residents are: • Younger (20-29 age'group) • Single (56 vs. 26 percent) • Slightly lower income • Fewer children C'no children" = 90 percent vs. 67 percent overall) RosAEL RsNn~ CARES PACE 13 EAGLE COUNT~I HOUSING N Ircw ASSESSMENT • More seasonal (19 vs. 6 percent overall) i • "Newer" residents (more of six months or less) • Type of residence: Apartment or condo - 61 vs. 29 percent; mobile home - 0 vs. 21 percent; single-family - 10 vs. 27 percent I • More households rent in Vail C76 vs. 53 percent) • High intent to remain in area • Slightly lower satisfaction (70 vs. 76 percent) i • More preference to rent expressed (35 vs. 16 percent) • Willingness to live in employee housing (rent - 38 vs. 23 percent ov i rall; purchase -10 vs. 16 percent) • Housing preferences indicate a sense of "realism" by Vail locals: Apartment/condo - 20 vs. 9 percent; triplex/townhouse - 13 vs. 6 pei cent; single-family - 52 vs. 73 percent • Location preference: Those in Vail prefer Vail - 81 percent I Percent outside of Vail who prefer Vail -18 percent ~ Seasonal workers, renters and households without children all prefer Vail relative to any other location. i i Minturn vs. Overall ~ • Forty-eight percent at 30-34 years vs. 19 percent overall I • Sixty percent married vs. 44 percent overall ~ • Rent/mortgage plus expenses at $648 vs. $838 overall • More children per household at .96 vs..56 • High stability and tenure in region - 80 percent in region over three years, vs. 62 penent overall • Forty pen:ent single-family home and 40 percent mobile home vs. 22i percent, l5 percent overall, respectively • Thirty-six percent rent vs. 59 percent overall • Eighty-eight percent "satisfied/very satisfied" with residence vs. 65 percent overall • Seventy-two percent prefer single-family home vs. 67 percent; 16 percent prefer cabin vs. 10 percent overall • Fifty-six percent prefer Minturn vs. 3 r~.~ent overall i I i Rasau. Ramat Cis PAGE 14 EAGLE COUNTY HOUSING NEEDS ASSESSMENT Eagle Vail vs. Other • Older in 35-44 age group • Paying more rent/mortgage ($800 vs. $628) and more expenses ($257 vs. $210) • Higher average cost per month per bedroom - $446 vs. $379 • Higher number of persons per household - 3.06 vs. 292 • Most live in apartment/condo (53 percent) • Most rent - 71 percent vs. 59 percent for rest of County • Twenty-four percent plan to stay in region one to three years (24 vs. 13 percent) • Eagle Vail residents report paying "too much" for housing (49 vs. 40 percent) • Yet, 81 percent are "very satisfied/satisfied" vs. 75 percent for overall • First location prefer Eagle Vail at 56 percent vs. 11 percent for overall County AvoniWildridQe vs. Overall • Forty percent single vs. thirty-four percent overall • Heavily concentrated in household income bracket $20,000-$45,000 • Rent/mortgage less at $584 vs. $628 • Average expenses are more at $231 vs. $210 • Average cost per bedroom per month higher at $395 vs. $379 • Approximately same household size at 292; however, less children at .3 vs..56 - indicative of the heavy singles concentration • Ninety-one percent permanent • Residence type shows dominance of apartment/condos (68 vs. 37 percent) • Sixty-nine percent rent vs. 59 percent overall • Relatively likely to want to rent (prefer to own is at 58 percent in Avon vs. 69 percent overall) • Prefer Avon/Wildridge at 44 percent vs. 9 percent overall Edwards vs. Overall • Indications of some high household incomes with 31 percent vs. 22 percent overall at over $60,000 • Higher rents: $933 total rent/expenses vs. $838 overall • Cheaper average cost per month per bedroom at $370 vs. $379 • Household larger at 3.29 vs. 292 overall; greater children/household at .83 vs..56 • Eighty-four percent permanent vs. 90 percent overall • Thirty-four percent reside in mobile home vs. 15 percent overall • Forty-three percent own vs. 36 percent overall Ros~w. R~~t Cwtt~s Pwc815 EAGLE COUNTY HOUSING Nrnt~ ASSESSMENT r 1 • Fifty-four percent indicate paying too much vs. 40 percent overall . • Seventy-one percent prefer to own vs. 69 percent overall ~ • Forty-four percent vs. 11 percent overall prefer Edwards Eagle vs. Overall • Older. 37 percent are 35-44 years vs. 29 percent overall • Fifty-six percent vs. 44 percent overall are married j • Median income lower at $33,000 vs. $40,000 overall ~ • Total rent/expenses $745 vs. $838 overall • Average cost per month per bedroom lower at $288 vs. $379 ~ • More children per household; less adults per household • More mobile homes and single-family homes - 24 percent mobile homes vs. 15 percent overall; 39 percent single-family homes vs. 22 percent overall • Fifty-one percent own vs. 36 percent overall I • Lower demand for employee housing - 32 percent rent/purchase vs. 41 percent overall ~ • Prefer Eagle at 59 percent vs. 9 percent overall I i Gunsum vs. Overall I • Older: 46 percent are 35-44 years vs. 29 percent overall • Fifty-eight percent married vs. 44 percent overall ~ • Household income at 27 percent ($20,000-$30,000) vs. 18 percent overall • Average rent/expenses $764 vs. $838 overall ~ • Cost per month per bedroom lower at $302 vs. $379 • More children per household at 1.08 vs..56 overall • Ninety-eight percent permanent vs. 90 percent overall • Seventy-nine percent over three years vs. 62 percent overall • Fifty percent single-family home vs. 22 percent overall; 33 percent mobile home vs. 15 percent overall A • Sixty-four percent own vs. 36 percent overall • Foriy-six percent plan to stay in region indefinitely vs. 40 percent overall • Ninety percent prefer to own vs. 69 percent overall • Eighty-seven percent single-family home preferred vs. 67 percent • Thirty-seven percent prefer Gypsum vs. 4 percent overall; second at Eagle (25 percent vs. 9 percent) ~ i I RosAU. Ramat CARPS ! PACE 16 z ~ ~ EAGLE COUNTY HOUSING Nncus ASSESSMENT . PLANNIIVG MEASURES The results below have useful and important implications for development planning and zoning purposes. The trend shows slightly more persons per household than in 1984, although the number of children is not up overall. Per unit occupancies have been high in the resort communities for the past decade. The data seem to indicate a trend towards more people per household living together in an effort to reduce housing cost. Town of Vail per unit densities, in particular, are up from 1984. This is in sharp contrast to the national trend of more households with less persons per household. Predictably, responses as to why housemates choose their roommates elicited a 40 percent return by "financial necessity." TABLE 9 PERSONS PER UNTf AND AL1'POMOBILES PER UNTf BY UNrr TYPE SINGLE- APr/ DUPLEX/ MOBILE Roots/ FAMILY OVERALL CONDO CABIN TRrnLEX HOME I.ocICOFF HOME Autos/Unit 2.1 1.8 2.0 20 2.2 28 2.2 Adults/Unit 24 2.6 21 2.6 22 3.3 2.3 Child/Unit .56 .15 .17 .33 .37 .33 .73 Tracking vehicle per unit multipliers can be used in municipal planning efforts. With 44 percent of respondents having two vehicles per unit and 30 percent reporting 3 or more, automobile- related impacts can be extreme. On the other hand, about 4 percent of employees report "no" vehicle at their unit, and 23 percent report just one. Among condo/apartment dwellers, 33 percent report just one car. By applying this data accurately, a "sharpening" of parking standards could result in a more efficient land use pattern that will translate into more accurate and effective parking cost allocations. HOUSING Cosy IIJFORMATION The survey provides a number of different measures of housing cost data in Eagke County. These costs may be broken down into a variety of different groupings that will be useful for project planning and other types of evaluation. The data show variations by community th average rents, diff~.~u.ces between owners/renters, and between year-round/seasonal residential/work patterns. Additionally, 40 p~.~~.~t of those surveyed felt they were "paying too much" for their current residence versus what they were getting for their money. The tables below summarize some of this information. RosetL RE~a C~ PAGE 17 i EAGLE COUNTY HOUSING N i nun ASSESSMENT TABLE 10 ~ SI.TI~IIvIARY OF AVERAGE RENTS/MORTGAGE PAYMENTS BROKEN DOWN BY SUB-GROUPS i f SINGLE APT/ DUPLEX/ MOBILE ROOM/ FAMILY CONDO CABIN TRrnLEX HOME LACKOFF HOME i Per Bedroom Overall $264 $300 $294 $214 $366 $336 # of Responses 61 56 49 1l 4 299 ~ I EAGLE/ AVON/ ~ VAIL VAIL WILDRIDGE EDWARDS EAGLE GYPSUM MIIVTURN Overall Average j Rent/Mortgage $677 $800 $584 $711 $529 $514 $452 # of Responses 157 70 77 70 41 52 X25 I Renters Only $699 $741 $603 $636 $469 $530 $452 # of Responses 118 50 45 33 18 16 9 RENT OWN I Average Cost to Rent/Mortgage $625 $680 i # of Responses 330 204 ~ I i Average Cost of Utilities: Winter $158 $265 I Summer $86 $203 i Source: Rosall Remmers Canes, 1990. i INCOML LEVErs ~ i The survey provides a rich source of information con~~r.ing income levels among workers in Eagle County. Data rt.....it evaluations to be made from a variety of different standpoints, some of which were summarized in the Appendix B crosstabulations. The results show that household income levels range f.~u~ under $7,500 annually to in excess of $200,000, with the median household income f...,.. the survey data at $40,000, with an average of $36,800. Percent responses by income groups are summarized below for owners and renters in Table 11. There are distinct differences that must be considered in planning for housing. ~ i i -I RoSAU. Rev G?xES PACe 18 I I EAGLE COUNTY HOUSING NEEDS ASSESSMENT - TABLE 11 INCOME BREAImOWNS BY OWNERS/RE[v i r.?cS AND SEASONAL/PERMANENT WORKERS % % % % % OVERALL OWN RENT SEASONAL PERMANENT $0-7,400 2 0 3 9 1 $7,500-14,999 5 2 ~ 8 6 6 $15,000-19,999 6 2 ~ 8 15 5 $20,000-24,999 9 7 11 6 9 $25,000-29,999 9 7 8 6 8 $30,000-44,999 29 25 31 23 29 $45,000-59,999 19 23 17 15 20 $60,000+ 22 33 15 21 22 101% 99% 101% 101% 100% (n=482) (n=188) (n=272) (n=34) (n=438) Sou:ne: 1990 RRC data. Income measures are typically combined with housing data to develop ratios that represent a measure of need for housing assistance or capability of supporting mortgage or rent payments. In Eagle County approximately 37 percent of the population is reporting that they are paying 30 percent of total household income for their total housing cost (rent or mortgage plus winter utilities). As shown below, this relationship is especially strong among renters. It is also most pronounced at the lower end of the income spectrum, dropping off at incomes above about $35,000, with another drop above $59,999 (see Table 13). In an effort to better quantify the full extent of housing need th the County, the results from several questions have been combined. Based upon a series of evaluations combining income data with measures of the extent of the housing problem, we conclude that the problem of affordable housing generally begins to diminish at or above about $59,999 gross household income. Combining this finding with the information portrayed in Tables 12 and 13, we identify that renters with in~~,.,es of $59,999 or less and paying more than 30 percent of total household income for total: cost of housing (rent plus utilities) are th some need of assistance. (It should be noted that the "needs" of the group making between $45,000 and $59,999 are obviously different and arguably less ext.;....e than those of renters in the lower income categories. Nevertheless, they are real and should be quantified as a part of this type of study.) In Eagle County this component of the population rer.t,ents 40 percent of the renter households employed in the County. ROSeti R~7~ C~Rfs PACE 19 EAGLE COUNTX HOUSING Ncnud ASSESSMENT., I TABLE 12 GROSS HOUSEHOLD INCOME EXPRESSED AS A RATIO OF TOTAL COST OF HOUSING % OF HovsEHOLD IrlcoME % TO TOTAL ALL % % HOUSING Corr RESPONDENTS RENTERS OWNERS 1-9 5 3 6 ~ 10-19 26 28 24 20-24 19 15 24 ~ I 25-29 14 14 14 30-100 37 40 32 100% 100% 100% I TABLE 13 INCOME BREAImOWNS: GROSS HOUSEHOLD INCOME EXPRESSED AS A RATIO OF TOTAL COST OF HOUSING -RENTERS ONLY -BROKEN DOWN BY INCOME I 96 of L,.~",e 96 % 96 % % 96 % % 96 96 M Over ~ 57,500- 515- $2(1- 525- $30• $35- 545- SGO- 580-, Housing all 57,499 514.999 519.999 524,999 $29.999 $34.999 $44.999 $59,999 $79.999 599,999 $100.000+ I lA 3 0 0 0 0 0 0 0 3 0 29 j 36 10-19 28 0 0 6 0 14 27 32 40 73 71 55 20-24 15 0 6 0 12 14 12 27 23 27 0 ~ 9 25.29 14 0 6 11 4 24 21 24 14 0 0 ~ 0 30+ 40 0 88 83 84 48 39 18 20 0 0 ~ 0 10096 096 100% 100% 100% 100% 100% 100% 10096 10096 100%~ 100% I This figure may be used th conjunction with total household data to provide one estimate of the extent of need for assistance. Projecting the 40 percent figure to the total work force, we estimate total need for assistance to renters to be on the order of 3,775 persons,. Yet, because the majority of this group is presently housed, the focus for programs targeted to this particular segment would be on rental assistance, or various forms of subsidy. In addition, for a segment oflthis group, the desire is strong to "move up" to purchased housing. For these residents a diff~.. r;..t set of programs and strategies becoa?e appropriate. This group of renters is generally not in direct need of new units, although increased supply would bring a variety of "trickletlown" benefits. There is an obvious need to further s~tb...ent the data between renters and owners Not only are the two getups characterized by diff~:.~.+t income profiles, but their needs and desires also vary. Within the renter getups are two distinct subgroups: the seasonal workers, many of whom do not wish to own; and a second more established group with relatively low incomes that do wish to stay in the area and eventually aspire to own housing. i Roseu. Rra~n?~t Cw~s i PACE 20 EAGLE COUNTY HOUSIIVG NEEDS ASSESSMENT Shown on page 20 is a table that further breaks down owner and renter responses. It contains a number of basic percentages that help to illustrate the similarities and differences between owners and renters. These figures should be useful in further evaluating need in Eagle County and in any project planning that may occur. RErrrac/Ow~vEO HousIIVc There follows a Profile Sheet that compares renters and owners. It helps to illustrate the differences between the two groups. The differences between owners and renters are evident in a number of the categories of data portrayed on the attached profile sheet. Generally, owners tend to be older, earn a higher median household income, have lived in the region for a longer time period, and appear more satisfied than renters. The following summary highlights some of the diff,:.....ces between the two groups: • Greatest proportion of renters are between 20-29 years of age. Owners tend to fall in the 35-44 year age group. • Median household income is $48,000 for owners; $33,000 for renters. • Owners exhibit an adult per household ratio of 2.12: renters, 25.. • The average cost per month per bedroom is $15 greater for renters, yet overall owners' mortgage payments average $680 versus $625 for rents. • Forty percent of renters plan to stay in the region three or more years, compared to 75 percent. of owners plan on remaining in the area three years or more. About 20 percent of renters (versus 16 percent of owners) report they don't know how long they will stay in the area. • Almost half of all renters (46 percent) say they are paying too much for housing compared with 32 percent of owners saying they pay too much. • Thirty-two percent of renters are "dissatisfied" or "very dissatisfied" with their current residence versus only 16 percent for owners. • Forty-two percent of owners live in single-family dwellings, followed by duplex/townhouse and condos. Renters tend to reside in apartment/condo dwellings, followed by duplex/townhomes and mobile homes. • Thirty-nine percent of renters said they would rent in employer housing if given the option. • Fast choice of housing for both owners and renters would besingle-family homes. RosALL RE7rD?ffiV CARES PACE 21 i FACIE COUNTY HOUSING NEEDS ASSESSMIN`I' EAGLE COUNTY EMPLOYEE PROFILE APRII., 1990 ~ SOURCE: Rosall Remmen Cares, Inc. ~ Notc: (:ategones may not total 1 W96 due to partial EX: Male Female cate¢ories. roundin~t or multiple responses. 4596 48 5596 52 - - - _ _ _ I GE: Under 20 20-29 30-34 135.44 45-54 55-641 +65 196 2 1796 49 1896 19411 4096 22 1096 79F~ 396 2 196 AL Single Married Live Togtlu Separated Divorced Widowed S'~ATUS: 1096 4$ 7496 26 596 $ 296 2 996 14 ~ OUSEHOLD d7SM $7.5-$ISM $15-$?AM 520~30M $30-S45M $45~60M >$60M COME: 3 296 8 296 8 1596 19 2596 31 246 17 3396 15 DIAN HSHLD AVG. MO. AVG. MO. AVG MO. Ct7ME: 5481100 $x_000 IZENT/MOR $680 5625 EXPENSES: X282 $169 COSTBDR S'.?81 $396 ULTS HII.DREN HSHLDS.W/ _ HLD: 2.12 2.50 /HSHLD: 0.82 0.38 NO CHLDN: S2 77 IDENCE IS: Seasonal Permanent TIME W Less 3 Mos. 3a5 Mos. 1-3 Yrs. Over 3 Yrs. 196 I S 9996 85 REGION: 196 21 296 16 696 20 9196 44'9 IN: 1696 369~~996 ail S~Avo~ ild6 1596 10 ~I1096 6 G I~ 9fon 59f~~7% 3 IDENCE SF.House Duplex Apt/Condo MobileHm Dann. Room Other 4296 10 2396 19 1596 54 2096 11 2 ~ I~'o 1 196 ~9 YOU Own Rent RntRm Caretake Other ' ETV'~'1.Y: a0P46 lpp TO STAY c3 Mo 3-6 Mo 6• I2 Mo 1-3 Yr 3-10 Yr > 10 Yr DontICnow REGION: 13 296 5 4 896 17 1696 10 5996 30 1696 OUSING Bargain AbtRight TooMuch ' ALUE: 1796 l19' 5196 43 3296 46 ATISFACTION VerySat Sat ~Dissat VeryDis _ 3396 16 5196 52 1296 26 496 6 YOU Own Rent Lease . 9796 529' 396 33~ 146 16 EMPL HSG _ Rent Purchase Neither Uncertain D' 696 '19% 96 l49 5296 79' OUSING TYPE S.F.House Duplex Apt/Condo MobileHm Dam. Cabin Other . S'f CHO14;E: 8¢96 56°/ 396 119' 396 IS 396 2 Syb 12 1 OUSING LCTN Vail Eagle/Vail Avon/Wild Edwards Eagle Gypsum Minturn ST CHOICE: 2296 459' 896 14 896 10 1796 6 1496 63' 796 3 596 2 I I HOUSEHOLD INCOME 1ST. CHOICE -TYPE i 3596 ~ ZS~r ~w q~ - ~ ..-....._..-....._w. S~f, - - - OL N* - g ~ 0lfo ~ ~ a4~ ~[oh8~fleDars C16i~ OthQ ~ s7s415M sts~s6o PRrr~..I~1VCE DVCOML ~ ovt~wt ~ c~aursav ttt~ avewi lt~ c~,aaso~v i i i I N= 204 OWIVPRS N= 330 RENTERS PACE 22 R06ALL RE[u)I~RFN CARFS EAGLE COUNTY HOUSING Nc~us ASSESSMENT TABLE 14 SIZE OF UNTT AND RENTAL/MORTGAGE COST COMPARED SIZE OF THE UNrr RENTAL/1990 MORTGAGE/1990 Efficiency/Studio $472 n/a One-bedroom $492 $345 Two-bedroom $592 $584 Three-bedroom $723 $713 Four-bedroom X807 X813 Overall $625 $680 Only 18 percent of respondents indicate they do not share housing costs. Those households where two people share housing cost were 56 percent of the total owned and rented, with 27 percent indicating three or more share multiple incomes. Sharing the expense of units is one clear response to housing costs. Another method that is being used to reduce costs is for persons to live with more to a unit than is desired. As noted above, about 40 percent of persons with roommates have them because of financial reasons. Put another way, they are responding to the local situation by living more to a unit than is desired. OwNERs The owned units and owners of those units in Eagle County may also be profiled through the survey results. See the preceding page for the Profile Sheet comparing owners and renters. The cost of ownership is higher than the cost of renting. The average mortgage payment is $680. The median household incomes of owners is $48,000 and for renters is $33,000. There are distinct differences in the location preferences of owners and renters that are illustrated on the profile sheet. Owners generally prefer the towns of Vail, Edwards and Eagle, and are especially likely to .prefer single-family homes. The average utility and other expenses (taxes) cost is $265/month for owners in winter, and $203 in summer. EMPLOYEE HOUSING -INTEREST AND ATrIT1IDES The survey explored interest in employee housing. The results show that at present, about 11 percent of respondents are living in housing provided by employers. Yet, interest in living in such ;....rloyer provided housing is high (28 percent), and interest in living and/or purchasing in a designated employee housing project is even higher (41 percent). There is strong evidence that responses are associated with income levels, but note that up through income $ 29,999 level, up to 32 percent of the respondents would rent such housing, with another 20 percent "uncertain." These results are summarized in the figures below. RosAU. RFa~~ty CAx~s ~ PACE 23 i ~ EACLE COUTJTY HOUSING NEEDS ASSESSMENT TABLE l5 WOULD You LrvE IN HousIIVC OWNID OR MANAGED BY YOUR EMPLOYER? 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% 80.0% 90.0% 100.0% 107,499 17,500-114,999 115,000-119,999 120,000-124,999 //////////////1/y 125,000-129.999 130.000-134,999 135,000-144,999 145.000-159,999 160,000-179,999 180,000-199,999 1100,000 0 Yes ¦ UnceRaln ¦ No 1 I i ` TABLE 16 IF EMPLOYEE HOUSIIVG WERE PROVIDED, WOULD You RENT/PURCxASE THERE? j 0.0% 10.096 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% 80.0% 90.0% 100.09'a • ~ 107,499 17,500-114,999 115.000-it9,999 120,00024,999 ////////.///////~j 125,000,529,999 130,000-534.999 135,000-144,999 145.000-159.999 160,000-179,999 180,000-599,999 5100,000+ 0 Yes ¦ Uncertain ¦ Pb i Ra6ALL RElvllvlFN CARES PACE 24 I . EAGLE COUNTY HOUSING Nnn~ ASSESSMENT The lower income level groups (essentially below poverty level at $7,500 annual household income) show a high positive response to living in employer owned/managed housing. As income levels increase, positive response rates generally decreased, yet there is interest in employer provided housing overall, with a strong positive response up to the $50,000 household income range. The data portray an important finding. there is a concern about living in housing managed directly by an employer. It is most likely that respondents interpreted employer managed housing to mean that one must work for a particular employer to receive the housing assistance. Further, they may perceive this to mean one must continue to work for their current employer to receive the assistance, and they recognize the extreme hardship that can occur when changing jobs during the winter and being forced to find new housing. The results in Tables 15 and 16 show less support for employer-owned or managed units than for employee housing in general. Further, open-ended comments show that employees want to separate home from work The results suggest that the parameters for living in assisted housing must be well defined and communicated. It may also be advantageous to create a pool of employee assisted housing, managed by an entity other than the employer so a separation between work related issues and tenant issues is established. Clearly, those in the lower income groups are the most interested and in greatest need of employee assisted housing. This group is most likely to include the seasonal worker, a segment that under the narrowest definition is only in the region about six months per year or less. Housing for this population becomes the greatest challenge from two points: (1) seasonal residents only need to be housed for six months or so, creating difficulties in long term finance and unit management, and (2) due to the very low incomes of these populations and Eagle Count}rs relatively high rent structure, the up-front subsidy needed to make such units affordable could be substantial. Among higher income groups, $25,000-$60,000 and up, there is significant interest in both employee rental and sales units. Those with incomes of $60,000 or more were more interested in purchasing than other groups. It is apparent that households in the $35A00 - $50,000 bracket are ~...r~x~encing the same problems which are occurring nationwide; sufficient income to purchase a home, without enough down payment. This income group could qualify to purchase a $90,000-$120,000 home. The issue is how to pull together the required 10% down payment, especially in areas where rents and other living expenses are high. Typically, these are younger (30-40), professional persons who will leave a community to pursue the ownership, rather than stay in an area they enjoy only "to end up with nothing." Careful consideration should be given the housing needs of this group, as well as the more transient, low income seasonal worker. Both are a vital part of the Eagle County economic and community base. A summary sheet is presented on the following page that segments the overall marketplace by owners and renters, and then breaks the renters into the "permanent" and "seasonal" components. The seasonal proffie is based on a relatively small sample size and must be used with some caution. Nevertheless, it provides an indication of seasonal worker demographics. Ros~u. R~~ CnRrs PACE 25 i EAGLE COUNTY HOUSING NEEDS ASSESSMEWI i Esyts County Housing Nerds Assasmsnt ToW EmploymseN ProfUs I Rsntsrs (S9x) ~ OwMw (41x) Psrmansnt or sessonel (12x) Y44r Rwntl (88x) HOUSEHOLD INCOMES X0.7,499 99L 2x Ox j7,514,989 8x 8% 2X =1519,999 13% 7X 2x iZO-2a,999 6x 11x 7x 825.94,999 16x 22% 13x i35~4,999 18x /8x 20x :45$9,999 18x 171E ~ 23X iG0000~ 19lG 15x Sax PERCENT OF INCOME TO RENT ~ I 1,9'!L 10% 9x ~ 6x 1o•19x lox Sox I 21x 2x24 x Sx 18x tax 2529x 14x 14x I tax 90.100x 627E S77L i 927E AOE 0-19 67G Ox ~ 1x 2D-29 6376 48x 17x 9034 8x 21 % 18x 55.44 10x 24x 409E 45.54 4x 7x 20% ~ 8 Orer 6% 2x ~ Ix j I LIVE IN EMPLOYEE HOUSING NOW Yes 40x 12x Ox w ecx e6x ~I loox OESIRE TO LIVE IN EMPLOYEE HSINO Ya-Rent 58x 3576 6x YesOwn 8x 15x 1 dx Uncertain 22x 28x j 26x ~ 12x 22x 52% I CURRENT SATISFACTION Very secs6ed t tx 177E ~ 33x $ 53x 52x i 519E Notsacs(ied 91x 25x i t2% v«y deeetietied .x ex I 4x FlRST CHOICE UNR TYPE ' ~s Farrry 94x 60x ~ 68x ApI/Ccrde 907E 167E j 9x QdplerliApleatTwnhse 19x tOx ~ 9x CsIAn 19x 12x ~ Sx 1Aobie Flortrs 4x 2x ~ 9x FIRST CHOICE LOCATION yai 78x 41x 22x E~y~ tOx 14x ~ 67G AwrWViidwood 6x 10x i ~ Etlsrmds 2x 7x 17x Eagle OX 7x ~ 11x Qypsum 2x S7L 7% Yinoim 2x 2x ~ 5% j AYERAOE HOURS WORKED Winer 45.70 418.00 ~ 44.82 AVERAGE f OF d088 WORKED Wirasr 1~9 tA2 t?2 ore.ae s7x fI87L etx AVERAGE MOTOR VEHK;LES KEPI O. Nuns 6x 67G ~ 2x A , 206 2x05 i 229 I I ROSALL RF.[vR~lEIJ CARES I PAGE 26 I ~ EAGLE COUNTY HOUSING Nn~ua ASSESSMENT PREFERENCES The survey evaluated a number of topics related to employee preferences. In addition to considering attitudes toward employer provided housing, the survey questioned preferences with regard to price, unit type, size, location and features. Not surprising is the fording that runs throughout the data, that owners and renters differ in their opinions. Seasonal renters constitute a special segment within the larger group of renters. While all groups favor single family residences as their first choice, the data indicate that seasonal residents are especially likely to favor apartment/condo units (28 percent). Cabins are a relatively popular choice among seasonal renters (16 percent) and year-round residents (10 percent call them fast choice). Not all renters prefer to own, but virtually all owners do. About 32 percent of renters say they prefer to rent. There has been some decline in the desire to own among certain segments (generally those not expecting to stay in the region for more than two years) since 1984 (75 percent down to 69 percent in 1990). Nevertheless, there is a significant segment of renters that desire to own and hope to stay in the region indefinitely. This is a group that requires special attention and that could be served by the constriction of entry-level ownership units. Among those who prefer to rent, most respondents indicate they can afford to pay between $200 and $299 per month, excluding utilities (48 percent). This translates into units in the $400 to $600 range with "average" dual incomes, but higher rents are virtually unattainable for these lower income workers. About 5 percent indicate they can afford Iess than $200, while an additional 40 percent are in the $300-$499 range. A potential use of the survey data is to profile the desires of people at the various rent thresholds. For example, few respondents cite a preference for efficiency and one bedroom units. Two- and three-bedroom units are preferred (80 percent overall, 84 percent by renters). Among seasonal residents, the preferences are for two-bedroom (57 percent) and three-bedroom (29 percent) units. Most respondents report that the fast choice location of where to live is where they currently live. Yet there are differences by community as shown on the following page: RosNi RHvnv~rr C~tPS PACE 27 EAGLE COUNTY I~iOUSING N I>JS ASSESSMENT' r TABLE 17 CURRENT RESIDENCE LOCATION COMPARED TO FIRST CHOICE RESIDENCE LOCATION Whxa Oo You llv9 WM¢ d Your Vat Eaa w•a Eapta/ Fret Chob7 Summb Vilapa Va/ Vdl MMurn l,•adv(b Va4 Awn Edwards EaQb Gypsum Bvr. Crk. 1 SunrN Co. » x Sx 2x ftx Ox OX Ox Ox 3% 3x 2x 0% 2 VaiVilsga 0% 71x 4% 21% Ox 0% 9x ti'iL 7x Ox 2x 20x 3 Eaa Val 17x Ox 56% 3x Ox 0tG tx tx OX Ox 0% 20x t w.av.u t7x ttx 1tx aex 2tx 9+c 7x ux 9x tox ox ox s trw„m ox ox ox ox sex trx. 2x 6x ox ox ox ox 8 Laadvls• 0% Ox 0% 0% 0% 7~x 2x OX Ox Ox Ox 07L 7 Fled Clef Ox Ox 2% 1% Ox 0% Ox 0% Ox Ox Ox 0% 8 Ea0kNai tIx Ox 2x tx tx OX S7x 7x 7x 5x ax Ox 9 Avon Ox Ox Ox 1x px OX. Ox I 1 % 13'L Ox ax Ox t 0 E. . ~ 17x t t x 2x 2X tX Ox 9!L 6x 11 x OX t f>•A. Ox t t wobott Ox Ox 2x 2x Ox Ox Ox ax Ox ox t!x Ox t2 Eapla Ox Ox tx 1x Ox 4X 2x 1X Ix 60% Y6x f>% t3 Gypsum Ox Ox 0% Ox Ox 09G Ox Ox tx 6x 17% Ox tt Baavr Crk OX OX Ox 0% Ox 0% aX 4x ax OX Ox 10 x 15 GI , . J Spg. Ox OX OX Ox tx O% Ox Ox O b t 0V. ax ~ t6 OtMr Ox Ox BX Sx Bx OX 5x 4x a% 3X ek 20x The most distinct patterns of residents preferring an area other than where they are currently living are among residents of Beaver Creek (where a significant number prefer the Nail azea) and Avon/Wildridge (where residents would also like to live in Vail). The table also shows that there are Vail-area residents that desire to move Down-Valley, and other residents (note Gypsum residents attracted to Eagle and Edwards) that would like to move Up-Valley. There are also distinctive patterns in the desired locations of owners and renters, seasonal and year-mend residents, and households with and without children. See the Profile Sheets for these .~sltss. The seasonal residents are especially attracted to the Vail area C70 pen:ent calling its first choice), while Edwards rates attractive for households with children (18 rr,.~ent). Comparing current results to those obtained in 1984, the biggest shifts th pref.. ~.ces are Down-Valley ~ At this time, 35 pt.~~;..t fdentified a Vail location .....,pared to 42 p;...,~u.t in 1984. The Eagle Vail-Edwards- Avon area has shown gains, fi.,~.125 to 30S percent, In general, the data suggest that there is room to disperse employee oriented projects, but an attempt should be made to understand and address the particular attractions that the various r`~.a~nnunities r~~,a went. Roseu. R~~t CwRES PACE 28 EAGLE COUNTY HOUSING Nrnuo ASSESSMENT AMENTfIES Concerning amenities, the survey results show that privacy within units, laundry facilities, and on- site parking are the highest-rated amenities or features. However, a closer look reveals that there aze differences among categories, as shown by the following charts. Seasonal residents indicate a desire for proximity to transportation and bus services, shopping, and skiing facilities. Year-round residents prefer a more private living area and a facility with storage space. Both residents are concerned with heating their units. Households with_children, not.surprisingly, indicate distinctly different preferences from households without children. These interests include: units that encourage children, proximity to schools, a children's play area, proximity to child care, and on-site daycare. The planning issues that must be addressed include whether to physically separate (by location) households with children from those without children, or to have designated areas of a complex segregated from each other through design or physical separation. Between owners and renters, owners desire -more than renters -more than one bathroom, private residence areas, storage, and proximity to employment. Renters desire proximity to both transportation services and skiing facilities. Given the above information, attention should be directed toward each particular group's needs. Developing facilities close-in to core azeas for seasonal residents and renters is an appropriate consideration given that these respondents aze typically citing these preferences. Placing developments in areas closer to schools and open space will likely satisfy households that are owners and/or have children. Issues of how developments are designed, where they are situated, and what they contain should all factor into the planning process. Ros~1L Rn?~rt CwFtFS Pace 29 FACIE COUNTY HOUSWG NEEDS A~~~7NEMi ~ ti FTCURE 2 RANK ORDER OF AMENITIES AND MATURES BY OWNERS AND REiv?rrecS S.aeon.uParman.nt Rank Otder of AnnrtkNa And Fvtwea fiy Seaeonel and Pamranent i L.undry fectni.s Reeldenee 2 Prlva~y Wa?wr Uni (Ilob: RaWtpt en a Bale of 1-5, 1 u Hlph) >t OnSie Prukirq t Pr~imty To TrwponariortlBus Roues S Yon Than Oro B 1 2 • t 5 • 7 9 9 10 11 t2 t2 to t5 t6 t7 t9 t9 20 2/ 22 23 2t • Prodmty To Emp' 1.00 ' - - - - - - - - - - - - - ~ 7 Prorfmty To Grxwy Sion 1 ~ ~ p 9 Roirnly To Skurq 9 P'rivata DerA~Patio'Spera/Yard 2.00 ~ t0 Oaa f=or Heatlnp t t E' Fvr Heatirq 2.50 q t2 DYlaraalrr / O'epoeal ~~a t• ExVa Sa 5.0o vj 1! Slorepe yri0 tb Prozimty To Athtetie fedtias t6 Freplaoe fcr Leiwre Use L00 17 RentaYGuest Roam OmSir 19 UNb That Abr Pets x.60 19 Unb That Reatrid Chitdrm 5.00 - 20 UNa Thal Enaourape Chidren 21 Presiniry To Sdroob ~ Seasonal O Pertnarrm ~ ~ R~tY To Chid Care 23 Ta LcuChedrmr Play Area 2s OnSie Oay Cre OwNRara Rant Order d Anwtkla And Faaluno Ry Otrnea and Rerttera 1 wthi, Unt (IbU: RaWtpa on a Spla of t-S, t b MipA) ' Once facitiea Pnkinp { Oas fv , 1 2 7 4 b 6 7 • 9 t0 11 12 10 tt 7S 16 t7 t5 19 20 2/ 22 23 2a S Mon Than Orr Batlroan 1.00 - - - - - - - - ~ 9 Ptlvsia DedNPtUorSpacrrYaM t.SO 9 Pnatnty To C 9 Predmty To Orxry Store t t0 6era Sa rq z.oo tt oldn.aeN«~oiapowl . e t2 ants That Atbw Pw tso ~ 13 Proo<imty To Tra 18w Rouee O-, • O 3.00 ~O"~I+",.Dy-- ti tira~aoefvlabueUr ~~.p ~ 15 P To ACUeti: FaciDes e i, ~ ~ t 6 Ptomtly To Sktrp 2-~ a i t 7 Urdr Tht G , Chidrm ,e r_ forHeatirp a.00 k4 ~ .b 19 Pr®mty To Sdtoob 20 RerlalRitral Rooms On•Sie i30 2t Ta LaUptldrarr'a P4y Ama 22 F".,. ,~ToCtidCan • Oesr 4~ Rem I 23 Unb That Beetle Cttfidren 2t OnSte Day Can HMOS vr/ l rb rlJd Rant Order of MtrartkMa Arta t'aearea sT lloueet+otea wkh artd wnhout t Pnr.ry tNro,in Unt Children 2 Lwrdry FaoRtlas ~ OnSie Paddrq (IbU: Ratktps an • Beale of t-S, / 4 High) a OesForHaattp S Yore Than Orr B „ . . 1 2 ~ l S ! 7 t 9 10 11 12 t~ t~ 15 t6 17 t! 19 20 2t 22 23 2l ! Prhrme DedrRalleBPaw/1'ard 1 - - i 7 Seorape 0 • Prodmty To Emp . , 1.5 9 6ma Som+dproaAttp O 10 C ~ IOipod 2 t 1 Ptoatnty To Crooary Sore 23 ~0~ p t2 Preafrnly To T „ , 9es Roux 13 Urtlb Thr Akorr Peb 7 ~ C 11 faraplaoe fbr L,afras Uw 15 Pioaktky To tri~tp ~3 t6 Ptodntty To AktMde FsoRlr ~ ~ i t7 r. , . Far tt R.rraY4+.1¢ Roan oust. t3 . t9 unla TId a.elot cltta.n 20 Uds That Enmuape chtdr.n 5 2t Ptoatnty Te SdtooY ~ NMSs sab Ohld O Mrolds w Crt10 ~ 22 Ta lauCtidrart7 Pity Area a P+osf+tty To ChiO Can 2t OeSte Dqr Cen R06AU. REl~lFTI CARPS PACE 30 EAGLE COUNTY HOUSING Nnn~s ASSESSMENT COMMUTING PATTERNS AND THE USE OF THE AUTOMOBILE There is a fundamental relationship between transportation and the issue of housing a local work force in affordable and desirable conditions. For many, the willingness to accept outlying housing is related to the ease of commuting to work. Unique problems exist in Eagle County, especially during the winter season, when multiple jobs in disparate locations place special demands on the system. As noted above, most employed residents of Eagle County (92.5 percent) own automobiles. Although the overall average number of cars per unit is 213, there is significant variation in this figure by both size of unit and location of unit. These variations should be considered when planning for local transportation and modeling county-wide movements. Further, the relationship of the cost of parking automobiles and the cost of providing housing on scarce land cannot be overlooked. TABLE 18 AVERAGE NUMBER OF AUTOS BY UNIT TYPE: % REPORTING PER UNIT No AUTOMOBILE Efficiency/Studio 1.3 14 One bedroom 1.5 7 Two bedrooms 1.9 4 Three bedrooms 24 3 Four bedrooms 2.8 0 Five+ bedrooms 29 0 13Y LOCATION: % REPORTING PER UNIT NO AUTOMOBILE Vail Village/LionsHead/ 1.93 39 East-West Vail Minturn 22 p Leadville 1.8 18 Eagle Vail 23 3 Edwards 24 6 Avon 22 3 Most residents of Eagle County commute by car, but the use of buses is higher than th any of the ski counties analyzed. Further, the willingness to use a "park and ride" facility is fairly high among residents of a number of the communities in Eagle County. The geographic differences in these responses are evident th the table below. 1tosAtl. RF]vA~~7J C~ PLACE 31 EAGLE COUNTY HOUSING NE~ ASSESSMENT' , TABLE 19 CURRENT TRANSPORTATION TO WORK AND IIv i nxEST IN "PARK AND RIDE" % % % % % % % °JB~o VAIL VILLAGE, EAST VAIL, LEAD- EAGLE LIONSHEAD. WEST VAIL MLLE MINTURN VAIL AVON EDWARDS EAGLE GYPSUM How do you get to work? Car/Van 66 67 84 96 78 97 95 96 Bus 23 24 8 1 17 1 2 2 Walls 3 0 0 0 4 0 0 2 Other 8 9 8 3 1 2 3 0 Use "park and ride"? yes 34 25 30 33 36 31 27 35 No 45 50 48 51 44 56 50 42 Uncertain 21 2S 22 16 20 13 23 23 The data allow the location of jobs.to be measured in relation to home locations of individuals. Further, the understanding of multiple job holding is improved through questions that looked at the location of both primary and secondary job (if applicable). The data show that commuting is extensive in Eagle County. Few (generally less than about 35 percent) residents report they live and work in the same community, and there is little evidence of walking to work. Most commuting is Up-Valley, although with the surge of employment in the Avon/Edwards area, there is now evidence of more commuting in the central part of the Vail Valley. Results show that the majority of respondents (48 percent) identify Vail Village as the location of their primary job, followed by Avon and Eagle (7 rt.~ent). Yet, focusing just on the employees working in Vail Village, of those with two jobs, 75 percent report that their secondary job is in • Vail Other locations identified included Beaver Creek (9 percent), Edwards (5 percent), and Avon (3.5 percent). Moving from job to job r.~ents particular difficulties, especially for those wishing to use the bus system. While there is good bus service between Vail and Beaver Creek, the relatively large number of persons making this.,...mute taxes the system and generates some special scheduling concerns. Ros~u. RII~~Tt CA~s PAGE 32 ' EAGLE COUNTY HOUSING NEEDS ASSESSMENT TABLE 2O LOCATION OF HOME RESIDENCE BY I.ocATION OF PRIMARY JOB Primary Jobs Vali Vige. West Beaver Where Live? Lnhd. Vail Mintum Creek Avon Edwards Eagle Gypsum 1 Vail VIge.Mhd. 6% 3% 0% 1% 0% 0% 0% 0% 2 East Vail 13% 7% 13% 6% 0% 5% 0% 0% 3 West Vail 26% 17% 20% 9% 5% 09'° 0% 0% 4 WGntum 4% 396 27% 4% 5% 096 0% 0% S Beaver Creek 1 % 096 0% 3% 0% 0% 0% 0% 6 Avon 1096 7% 13% 18% 9496 14% 3% 0% 7 Edwards 7% 17% 20% 28% 12% 9296 1096 0% 8 Eagle 4% 0% 096 6% 9% 9% I19G 0% 9 Gypsum 4% 10% 7% 4% 1 t3% 189'° 41 % 100'K 10 Other 26% 36% 0% 21% 17% 229'° 5% 096 1009° 100% 100% 100% 100% 1009° 1009'° 100% RESPONSES FROM RESIDENTS OF EXISTMG AFFORDABLE HOUSING The survey form contained a block of questions specially designed to evaluate the opinions of residents of local housing that is currently considered "affordable;' either having been developed under various assistance programs, or simply because it represents a large block of local .residences. The results show that overall satisfaction among the selected residents is satisfactory with two-thirds of the respondents saying they are "satisfied/very satisfied." There are some differences in satisfaction levels by individual development, and the "open-ended" ~~...atents offer some perspective on the positives and negatives of each area. The ability to have pets and central location is viewed as a positive for several of the devel.,r...ents. Problems with parking, not enough space, and "rude, messy, noisy neighbors" are among the complaints. CHILD CARE SERVICES There are distinct differences in the use of child care services by community. Overall, 18 percent of respondents report using services at an average rate of 3.6 days per week Among households with children the figure is 45 percent using child care. The use of services by homeowners is higher than by renters, perhaps indicating the cost of obtaining such services, and the greater likelihood of there being children in owned units. As summarized below, use of services show such substantial variation by community that there is a need to consider child care locally. Broad generalizations simply to not hold. ROSALL REIvQvtEN CARES PACE 33 EAGLE COUNTY HOUSIIVG N i ~ ASSESSMENT . As summarized below, use of services show such substantial variation by community that there is a need to consider child care locally. Broad generalizations simply do not hold. TABLE 21 CHILD CARE USE BY COMMUNTIY AND DAY OF WEEK VAIL LEAD- EAGLE OVERALL AREA MINTURN MLLE VAIL AVON EDWARDS EAGLE GYPSUM Do you use child care services? (Households with children only) Yes 45 25 58 45 46 47 66 26 42 How many days . per week? % 1 5 2 17 3 21 4 20 5 35 6 1 7 1 100% The presence of children in households in Eagle County should not be overlooked as one of the most significant housing planning factors. As described above, households with children present very difft. t..t demands for amenities. Further, they participate in chilld care programs at varying levels. Data indicate that child care issues are affecting as many as half the households with children. The location and type of child care provided, in relation to either place of work or place of residence, will be an important consideration as new housing is developed to house local workers. Ros~?u. It~¢rr C~ PACE 34 ,ti • EAGLE COUNTY HOUSING Nnn~ ASSESSMENT THE EMPLOYERS SURVEY RESULTS As described above, the Employers Survey was distributed to a sample of local business owners located throughout Eagle County. (Note that by prior agreement businesses in the Basalt and El Jebel area of Eagle County were excluded.) A total of 600 surveys were mailed but 90 were returned due to "undeliverable" addresses. A total of 135 completed surveys were returned to RRC, representing a response rate of approximately 26 percent. These 135 businesses included a disproportionate number of large businesses as a result of special efforts to encourage the return of surveys, by these most important business interests. As a result, the 26 percent of responding businesses represent about 9,060 jobs or about 6,700 employees, out of a county-wide total of approximately 16,000 employees (42 percent). While more respondents indicated businesses in the Vail area (71 percent), all of the major commercial areas were contained in the sample. The sample also included a wide range of different business types with bar/restaurants (18 percent), professional services, general retail, and hotel/lodging (11 percent), real estate (10 percent), and other services (9 percent) most represented. The response to this survey, with a wide distribution of participating businesses, allows some important labor participation rates and commercial multipliers to be quantified for Eagle County. In the following section, a number of findings are summarized and in some cases are then "projected" to the larger County. The purpose is to develop some rough measures of current employment patterns that can be used to quantify current and expected conditions and to augment the understanding gained through the Employee Survey. TABLE 22 EMPLOYEIS SURVEY RESPONSE DISTRIBUTION: % OF RESPONDENTS BY LOCATION* VA1L WEST EAGLE VILLAGE LIONSHEAD VA1L AVON VAIL Mr<vTVxN EAGLE OTHER 38% 15% 18% 19% 10% 8% 7% 20% • Total w,,.:.~ds 10096 due to multiple responses, n=135. EMPLOYEES PER SQl1ARE FOOT VARY BY BUSINESS TYPE One important use of the survey results is to evaluate employment patterns. The survey results may be summarized using employees per square foot for commercial areas, to examine differences by geographic area and industry type. Overall, results show that employees per square foot vary by major business segments. These results may prove helpful if linkage-type programs are considered in the future. They should be used with caution, however, since the sample is relatively small and there are a few "extreme" values that influence the results. Reliance on the figures for ordinances or other legal documents should be done only upon a more thorough investigation of the results. The findings indicate: RosuL RE~~t Cw~s Pecs 35 EAGLE COUNTY HOUSWG N~ i ~ ASSESSMENg , TABLE 23 MAJOR BUSINESS SEGMENTS REAL ESTATE/ ALL PROF. OTHER BARE GENERAL PRVr~lc! t RESPONSES SERVICE SERVICE RESTAURANT RETAIL MANAGEMENT Average Commercial 350 233 411 96 127 66 Sq. Ft./Employee TOTAL EMPLOYMENT AMONG SLUZVEY RESPONDENTS IN WIIVTER 1990 The survey allows the working population to be broken down into its component parts. The results indicate major swings in seasonal employment by industry, with winter still far stronger than summer. TABLE 24 EMPLOYMENT LEVELS INDICATED BY THE EMPLOYERS' SURVEY WIIvlrac SUMMER SPRING FALL 1990 1990 1990 1990 Permanent Year-Round 9,059 n/a n/a n/a Position Represented by the Sample Permanent Year-Round 3,319 n/a n/a n/a Full-Time Permanent Year-Round 619 n/a n/a n/a Part-Time Seasonal Full-Time 3,601 ],014 1,314 1,379 Seasonal Part-Time 677 357 150 205 Note that the responses to the questions indicating total winter employment fall short of the estimate of 9A59 positions. Again, the totals should be viewed with some caution, but they are .~.r.~.~entative of relative patterns and do permit a variety of analyses to occur concerning employment patterns by industry, location, etc Rosen. RFI?~Tt C~ ~ PAGE 36 ' EAGLE COUNTY HOUSING Nnnu~ ASSESSMENT The results in Table 18 confirm one of the patterns still experienced in Eagle County. Summer employment drops off sharply, creating particular difficulties maintaining cash flow for both employers and employees alike. MANY EMPLOYERS REPORT THEY DID NOT OFFER JOBS TO SOME WrrHO11T HOUSING The Employers Survey provides a rough estimate of the total number of employees that either were not offered a job because they had no housing or were offered a job but did not take it due to no housing. We estimate these situations existed for about 45 percent of employers this year. The respondents reported a total of over 700 persons in this condition. TABLE 25 EXPERIENCE WITH JOB OrrricS IN 1990 EMPIAYERS SURVEY RESPONDENTS (Note: To be conservative, r...~~.Yion assumes the sample represents 75 percent of total employment when in fad we estimate it to be app~ximabely 42 percent.) SURVEY RESPONSES- PROJE~ i n~J TO THE TOTAL INDIVIDUALS ENTIRE POPULATION Persons Who Were Not 745 993 Offered a Job Persons Who Did Not Take 885 1,180 a Job Due to Housing Clearly there is double counting of individuals by the various employers (multiple employers encountering the same employee th need of housing), but even if the projected numbers are discounted by 50 percent, there is an indication that housing is directly impacting employers as well as employees. Together these two situations, turned-away prospective employees due to no housing, or employers that were turned down by the employees, existed for as many as arr..,..:mately 1,000 persons when we project to the entire Eagle County labor force in 1990. Assuming that these individuals were housed at the current County average of 232 employed persons per unit, they would have generated demand for approximately 430 units. MEASUREMENTS OF FUTURE EMPLOYMEM In an unusual measurement, one that has not typically not been quantified in the past and differs from conventional population projections, the survey asked employers what the future would hold th terms of employment. These results provide an important additional source of inf.,....ation concerning what future employment patterns may hold for Eagle County. The data indicate that the employers included in the sample anticipate substantial growth th employment over the next two years. In summary, the findings show: Rosr+u. RE~1EN C~ Pece 37 EAGLE COUNTX HOUSING I~, i ua ASSESSMEiVT TABLE 26 ~ ' CURRENT AND FUTURE (1992) EMPLOYMENT FST'IIvIATES EMPLOYERS' SURVEY RESPONDEN'P5 CURRENT EMPLOYMENT PROJECT EMPLOYMENT AMONG AMONG SAMPLE SAMPLE RESPONDENTS RESPONDENTS - 1992 CHANGE Permanent 3,918 4,096 178 (Full- and Part-Tune) Seasonal -Winter 4,278 4,596 318 (Full- and Part-Tune) 8,196 8,692 496 These high levels of growth over the next several years seem overly optimistic when viewed in relation to previous population growth. Yet, the optimism expressed should be evaluated as housing needs are assessed. The employers are saying they expect to add substantial numbers of new employees, all of whom will require housing. Unless this housing is constructed, or pulled out of the short-term/private use second-home market, the housing situation will likely become worse, not better. Using employers to project growth is a technique that is not widely used because of the tendency to overstate. However, these estimates have a place in discussions of future trends in Eagle County. The estimates of employee growth can be used to quantify the demand for residential units. The results suggest that as many as 500 new work positions will be added among the respondents. Factoring this number up to the entire population, then discounting it for multiple job holding of 1.35 jobs per person in Eagle County in winter, the results suggest demand by about 880 persons over the next two years; or 380 new dwelling units (assuming current occupancy levels) needed to house new growth These units are in addition to the units indicated as being needed to serve under-served employees and those employees that were not offered a job or left the area (see. preceding discussior~. While these estimates are optimistic, typical of the eatployment community, they do r.~., ride another means of quantifying future residential demand EMPLOYEE Hollsnvc The Employers Survey indicated that only 1 percent of respondents house "all employees", while 34 percent house "some." This compares. to I1 percent of the Employee Survey responses indicating that they are living in a unit provided by their employers. This is the highest level of employee housing found in any of the comparable ski counties, including Summit Routt, San Miguel and Blaine County, Idaho. Pitkin County, which has awell-established program of ~,..,,Floyee housing, was not surveyed. The Employers Survey shows strong interest in both providing housing if units did not require management (39 percent of respondents either not currently providing or interested in offering more say they would provide), and 27 percent overall indicate a willingness to guarantee payment Rosnu. RFa~g7v C~ PACE 38 • t EAGLE COUNTY HOUSING Nccud ASSESSMENT for units to have units available during peak seasons. These levels of interest suggest that there is support for an organized effort that may require substantial levels of support and commitment from the private sector. The data indicate.that about 850 employees, or about 9 percent of this sample, are receiving some form of housing assistance through employers. The average monthly rent, per person, is estimated to be $288. When asked what the employee should pay for rent and what the t...rloyer would be willing to pay, the averages showed: Employee Should Pay: Employer Willing To Pay: Average - $350 Average - $113 )n mugh terms, the employers are willing to pick up approximately a 25 percent share of a $460 per employee cost. (It should be noted that these estimates are crude because they are based on averages. However, they are comparable to the actual costs being indicated through the Employee Survey on aper-employee basis when rent plus utilities are combined. The data provide a starting point for evaluating potential program costs and for identifying the share of housing cost that participating employees might consider funding.) THE D~tctan~ Wr1'x YEAR-ROiwD Flrrronvc OF Lllvlrs The data also illustrate one of the major problems with providing employer-supported housing in Eagle County: the winter demand far exceeds the summer demand, and there is reticence on the part of many employers to guarantee payment of units throughout the year. The survey results show: "Would you be willing to guarantee payment for units on a year-round basis to have units available for your employees during peak seasons? VAII. AREA EMPLOYERS EMPLOYERS Ou~sIDE VAIL Yes 41% 29% No 59°Jo 71% 100% 100% n = 101 The survey results indicate that willingness to pay for units year-round is higher in Vail than elsewhere, but support is not overwhelming in Vail, and as one moves down-Valley the willingness diminishes. Roseu. R~¢N GRFS Pecs 39 EAGLE COUNTY HOUSING Nnn~,,i ASSESSMENT These findings are further confirmed by responses concerning: "Ideally, how many employees would you want to house by season:' EMPLOYEES INDICATED BY RESPONDENTS Currently housed: 860 Ideally -Winter. 1,960 Summer. 310 Fall: 176 Spring: 152 Clearly, local sentiment would still prefer a mechanism by which the costs of housing would only be underwritten during winter months, and the housing supply would stretch during this peak season The surveys asked employers to indicate the importance of various aspects of employee housing f..,.., the employers' perspective. The results indicate that costs, both to employee and employer, are the most important factor, followed by "making the units a part of the community." Generally, r..,,3mity factors were lower rated, although for some employers these are important. Results are summarized below: TABLE 27 RATINGS OF THE INII'ORTANCE OF VARIOUS FACTORS IN ENII'LOYEE HOUSIlVG RANK AVERAGE % SAYING "CRITICAL" 1 Cost of units for employees 1.6 61 2 Cost of units for employers 1.9 57 3 Making it a part of community 25 33 4 Having employee close to work 26 20 5 Proximity to child care 3.3 6 6 Proximity to skiing 4.0 3 7 Proximity to athletic facilities 4.1 2 NOte: 1 = "Cnhcal," 5 = "NOt Imr....dr?t." It is of interest that these results do show some variation by community. The Vail area businesses are especially likely to place emphasis on cost of units (to both employee and employer) and p.,,..:mity to skiing. They are relatively less concerned, however, with having employees near their place of work. Apparently, many of the Vail area employers are already resolved that a major st~,...ent of employees can no longer be living in the immediate community. RosA11, REbA~N CAxPS PACE 40 '+I . ~ ~ EAGLE COUNTY HOUSING NnnuS ASSESSMENT T~iE OPEN-ENDED COMMEMS The Appendix contains a summary of ideas and suggestions from local employers grouped under several headings: What should the public sector do? What should the private sector do? What should the mutual effort be? While many of the comments conflict, with some saying "Do this" (for example, form a housing authority, with others saying "do nothing"), there is a general tone of support for action. Although the Appendix represents only a short summary of the many "...menu received, it is felt to be representative. Many specific suggestions are made, ranging f...... donating land to recognizing the link between transportation and housing issues, to pursuing bond funds, government assistance in creating the housing (through zoning changes, fee waivers and other devices), etc. The sentiment expressed through the commenu on the Employers Survey shows strong differences in opinion concerning the role of government in the process of providing housing. (While many are calling for "cooperative action;' there are differences in opinion concerning the specific actions to be taken.) Local discussions will be required to address the appropriate levels of response by government in light of public sentiment. Roseu. RF~vA~ml Cnt~s PACE 41 - 1. Including yourself, how many adults 18 or older itve to your residence? EAGLE COUNTY i _ a 2. >4~ J 2. ~ Adulis n = s~o HOUSING SURVEY ~ 8. Hov many children l the in your residence? t990 (ENTER 0 IF NONE) ~ ` ~ Cht ldren ~ _ PLEASE RETURN THE SURVEY IN THE ENCLOSED POSTAGE- ~ 9 ~ ~ n o c PAID ENVELOPE. TO MAINTAIN CONFIDENTIALITY, THE Q = l0 6. v SURVEY KILL GO DIRECTLY TO THE CONSULTING FIRM THAT IS TABULATING THE RESULTS. 9. (IF CHILDREN) Hov many children do you hove in the following age groups living in your CHECK ONE ANSKER PER QUESTION UNLESS OTHERKISE residence? INDICATED. w (KRITE IN NUMBER OF CHILDREN IN EACH AGE rGROUP 0 IF NONE) PRESENT HOUSING ~ a. . 'fv 3 and under /Z"'~ Z- /1 = ~9Q = 0=(0~% U t. Khere do you live? u. b• • X00 d - 8 years old QQ,~q~ p _ 3 ,.1= l90 Ot) ?.t°~Summit County c, 9 - 17 years old O= 02) 3 G vail village/LionsHead 03) g.L East Vail d. ~ 7 18 and older (as 'children' livin 04) i~.L Kest Vail g OS) ¢.S Mlnturn with parents) /2uh~ 0-~ nz !90 06) 3,9 Leadv111e D = S ~ 01) 1. ¢ Red Cliff ~ 9f. Oo you use child care services? 08) 1Z.5 Eagle-Nall 09) IZ.7 Avon 1) Ig Yes 10) I.l Kildridge 2) $ L No n = S ~o t t ) ! Z. S Edwards - 12) .7 Kolcott/bellyache Ridge 9g. (IF YES) How many days per week? t3) 7.3 Eagle 3.57 ta) q.3 Gypsum ~f. Days per week ~ 3 t5) Beaver Creek / t6) - El Jebel t7) Glenwood Springs ~ ~-.-',io O 14. Is your length of residence in this Brea: tE) _ Basalt 6 months per year or less (SEASONAL) 19) 3.QJ Other: 4r' Greater then r months (YEAR-ROUND) ` i ?a. Do you presently: t) ~ C: Own t5. (1F SEASONAL) rtow many years have you been 2) <9 Rent coming to the Eagle County region? 3) Z House sit/ca retake - ~ 1) f L One year or less 4) Z Other: ~/O~ 2) / ; Two years 3) /j Three years 3. (IF RENT) Khat ere the terms of your rental? ~ 4) Z four years 1) ¢?j Month-to-month Z 5) ~ Five years ~ _ (0 8 w 2) 4'd' Year-to-year O 6) 1 More than five 3) S Ski season only u. 4) Sumcoer season only W 5) Other: n - 3 y 16. (IF SEASONAL) During which seasons do you ~ expect to be in Eagle County for more than a two week period over the next t2 months? da. Khat type of residence do you live in? (CHECK ALL THAT APPLY) t) 3S Apartment/condominium 1) ¢p Spring 3) 3 S Fall 2) 3 Apartment in house 2) 2J Z, Summer d) $ S Ktnter 3) 1 Dormitory-style room n a ~ 8 e) Z p Duplex/triplex/fourplex/townhouse S) , ~ Mobile home iT. How long have you resided in the Eagle 6) 7 Room/iockoff County region? 7) 2 L Sifigle-family house ~ c ssq t) 3 less then 3 months 8) Z Other: f 2) 11 Three to six months m 3) /1 Six months to t year ~ ~5a. (IF MOBILE HOME) lfilch category best 4) /Q' One up to 3 years ~ describes your living situation? S) 1 Z Three up to 5 years t) q Own mobile home ortt space 6) t$ Five up to 10 years 2) 4 7 Own mobile home, rent space T) 3 Z More than 10 years ~ = 5 ~'%p m 3) 3¢ Rent mobile hone. rent space q ~ d) ) Q Other: ~ I t8. (IF YOU HAVE LIVED CONTINUOUSLY IN THE AREA (describe) FOR 3 Yf~IRS OR MORE) How many separate 6. How mny bed...,,,. ere 1n your residence? residences have you lived to during the last: t) 3 Efficiency/studio t) 3 S Three bed 2) ?0 One bedroom 5) I O Four bedrooms a. ~"9• l•30 One year? /2a, E: l - T ~1 = 2~° 3) 4'O Two bedrooms 6) Z Five bed...~~.. _ $4cj / 9 7 J N(o~ = ~ = 7r~e 19. (IF TwQ OR MORE RESIDENCES) Why did you move to 28. How much longer do you plan to live"1n the different residences? region? 1) g,s Through the ski season (1989-90) 2) 3 3 - 6 months 3 ) ~ Ei - 12 months 4) t 3 t - 3 years 5) ~ 3 - S years 20. which category below best describes your 6) (0 5 - 10 years employment 1n Eagle County? 7)'4'O More than 10 years/no plans to leave (FULL-TINE = AVG• MORE THAN 30 HRS. PER MK. 8) Iy•S Don't know ~ = S 5 Q PART-TIME = AVG. j,ESS TF{Sy 30 HRS. PER wK.) 1) "j s Permanent yeahround, full-time 29. If you were to leave the region, what two 2) .F Permanent year-round. part-time 3) (g Seasonal, full-time factors will ~ 1~nfluence your decision? d) ( y Seasonal, part-time ~ . 5 59 Rank 1 = Most Important, 2 = Second Host Important. 21. How many ~obs• (RANK YOUR ~,FgST IMPORTANT CHOICES ONLY. • USE EACH NUMBER ONLY.) a• .1.35 0o you currently hold? ~ ~ 2 ~ e. Oi) Zq' l° Change in living environment b. ~~ry. •7!v Did you hold last summer, 1f in 2 = 2 2 % 02) Z t Cost of housing J Eagle County? ~ _ L~- ~ 03) L Cost of living (ENTER 0 IF NOT RESIDING IN 04) t ~ Growth and change 1n the town EAGLE OOUNTY LAST Sl1lQiER) n = SS OS) e4- Haring chlldren/ralsing a family 06) (,a lack of ndeQuate employment 22. Approximately how many hours per week do you 07) Z5.5 lack ofi professional opportunity work on average 1n Engle County? 08) tz. 5 Lack of suitable housing a. In winter? 09) $ Location of family/friends 10) 7 Return Ito school b. last summer, if in Eagle County? tt) `1 Other: (ENTER '0" IF NOT RESIDING IN 12) ~ o Oo not 'plan to leave the area in EAGLE COUNTY LAST SU{MER) the foreseeable future r 23. (IF SEASONAL EHPLOYEE) which seasons do you 29a. Oo you live in one of the following areas? N typically work in Eagle County? 1) $4- No (GO TO Q. 31A) o (~CK ALL THAT APPLY) 2) I(o Yes - Ifyes, which one. y 1) ~ Spring 3) ~ ~ Fall 29b. (CHECK BOX BELOM) ~ 2) ~ Q Summer 4) 9l0.~ winter 01) t 0 Benchmark Condominiums 02) !o Bendmark Pillage Mobile Home Park 2 ~ Z 03) ?I C1lffside village 24a. ~ Including yourself, how many 1n your 04) 1(o Eagle River Mobile Home Park household are employed? ~l~ < S Q- 06) , Fa11eLRneer View Apartments 24b. 2.2 ¢ Including yourself, how many•members O7) s Homestead Meadows of your household participate in paying the 08) g Pitkln Park rent. mortgage. and/or utilities? 09) 1~ Sunrldge ~I (ENTER "1' IF LIYING ALONE) /1 c s s ¢ 10) The Tarnes 11) IS Timber Ridge n~ I l4 25. what is the total regular monthly rent or oortgage payment for your residence? 30a. which cFaloe best describes your satisfaction with your present lgca~ton? = 1) Very satisfied 3) Not satisfied ~ Not applicable, don't pay monthly charge 2) Satisfied 4) Very dissatisfied z 30b. (IF DISSATISFIED) trtly do You feel that way? 26. what 15 the total regular monthly cost of the ~ m housing-related expenses (utilities. taxes, g N insurance, excluding telephone) 1n: W ~ a. 'winter? i c ? ' 46 [ ] Not applicable W ~ 30c. what do You 11ke most about your present b. Summer? i ~ ~ situation? Q$ Not applicable Z Z W W ~ O 27. what is roar share of the malthiY cost for ~ your residence (raet/loortgage t utilities, u. excludoing telaphoxle)4 = 3 1 ~ - i~~• S) 8 ~ Z? ~ I 30d. Md what do You like least? Q~ Not applicable R~~ ~ ? a .31a. Thinking about your current residence end 39a. (IF CAR, TRUCK OR BUS) Mould you consider what you ere getting for your money, do you usln a " feel you ere• 9 park-and-ride tot" as an 1) 15 Getting a bargain t) ~,3erYeSive to your present method of travel? 2) el-C, Paying the right amount 2) No 3) 4 p Paying too much 3) Z p Uncertain = 5 3 0 ?h = ~'f'8 3tb. Nhich choice best describes your satisfaction with your current residence?• FUTURE HDUSTNG NFFOS AND CONSIDERAT>~ t) Z 4• Very satisfied 3) L O Not satisfied 2) Satisfied 4) S Very dissatisfied In the following questions, please keep in mind n = $ '~'8 that price and residence type are related. 3tc. Nhy do you feel that way? Consider what you rea11st1celly could afford, not just an ideal. 42. Do you prefer to: (CHECK ONE ONLY) t ) 69 Own 32. Besides affordability. have you had other 2) 2 Z Rent 3) Ip Lease with option to buy = S`~'7 problems finding housing which meets your needs? w 1) SO.SYes - please ezplaln: ¢ 43a. (IF PREFER TO RENT) How much could you ~ individually afford to pay for rent (excludlnq utilities)? 2) X9.5 No n = S L 7 w 0) 1 = 0 - 99 S) 4' = 500 - 599 W 1) ¢ i 100 - 199 6) I i 600 - 699 o: 2) 41•S i 200 - 299 7) Z i 700 - 999 33. On a scale of 1 to 5 where 1 1s 'No Problem" d 3) 2 ~ = 300 - 399 8) ~ it,000 - t,499 and 5 is `Very Difficult,` please rote your LL 4) 1 = 400 - 499 9) - =1,500 or more experience finding affordable housing in the Eagle County region 1n the last ~rq years: 3 ~ 5 g O 44a. (IF PREFER TO OIrN) How much could you No Proble4 Verv Difficult O individually afford as a down payment? 1 2 3 4 S ~ t) 9 Z i 0- 4,999 Jverd 1 : 2Z % ~ I i= 19'/, 11 29. S'i ~ 2) Z~ s s,ooo - 9, 999 (IF RATED 4 OR S) Please explain: ~ 3) I o 510,000 - 14,999 W 4) (e =15,000 - 19,999 Z~.,~ ; 41 14 ~7 IS a s) I~ s2o,oo0 or more CZe~,~- : I I q z ~ Z 4- 35a. Nhat 15 the value of your current residence; d6. Housing Tvoe Preference that is, how much do you think this house and lot or condaminl~ unit would sell for tf it Please rank your top three housing tvoQ wars for sale? preferences using 1 through 3 with t as `Most 1) Z O Less than sS0,000 Preferred,' 2 as '2nd Preference,' and 3 as 2) 31•S = 50,000 to i 99.999 3rd reference.' ~I~iT r~ 3) L4 1100,000 to =199,999 ~ ~ C.~GIGe l ~ I 4) (o =200.000 to =299,999 0. 5) Z' =300.000 to 1399.999 t) ~Z % Apartment/condominium 5 ] 6) ; 1400.000 or ebro ~ S 2) • • Cabin 1} 7 7) 1 p Don't know, unoertaln 3) Dormitory-style unit I 4) S ~ Duplex/triplex/fourplex/townhouse ~ 1 96. Oo you personally own a ebtor vehicle? 1) 92.5 Yes S) Z Nobile home ~ ' Y) T•s ~ S~7 • ~ 6) ~ Room/lockoff 5 37.1~!~. 2.13 Har oany eotor vehicles ara kept at : M for use by members of 7) 6 ~ ~ Single family house C C your household? 38. Hov do you usually pet to work? If you usually usa acre then one method of 47. Rest ce S1 transportation durln9 the trip, Check the box ;e Preference of the one used for tiQg~, of the distance." Please identify your preferred residence size. 1) 8 3 Car, truck or van (CHECK ONE ONLY) 2) . Motorcycle 1) I Efficiency/studio 3) Z Bicycle 2) S' One bedroom 4) ll Bus 3) 3 Two bedrooms S) 2 Nalk s 5 ~ I 4) ,t 4, Three bedrooms c..~ • 6) I air' S1 ~ ~ Four bPdrrxmc ~ = i ~ ~ } 50. Do you personally life in housing provided by 48. Locetlon Preference your employer? Please rank your top three location preferences, 1) II Yes , ~ that is. where you most prefer to live. Use 1 as 2) $ ~ No /1~ j ~ S 'Most Preferred,' 2 as "2nd Preference," 3 as "3rd Preference.' 51. Would you live in housing owned by and/or O1) Summit County managed by your employer? 02) -~3 Vail V111ege/llonsHead i) L $ Yes 03) z.4•S East Ve11 2) 3 Y No 04) 41 Nest Va11 3) 3 Uncertain I . S S 3 OS) 1/7 Minturn 06) ~ leadviile (IF NO) Irlty not? 07) L Red Cliff OS) 7 ~ Eagle-Nall 09) i ~ Avon 10) 1 L M11dr1dge 11) 3'O Edwards 52. If a "designated employee' housing development 12) l~ Molcott/Bellyache Ridge were provided that was comfortable, in en 13) L Z•,~ Eagle acceptable location and affordable, would you 14) i~ Gypsum rent or purchase a risidence there? 15) 9 Beaver Creek (CHECK ~ ONLY) 16) E1 Jebel i) Z7' Yes - rent an employee residence 17) 9 Glenwood Springs 2) IQ' Yes - purchase an employee residence 18) ~ ' Basalt 3) 2 T Uncertain 19) 6 Other• 4) 3 L No -neither rent or purchase an employee residence n =SsL 49. On the scale below, where "1' 1s critical and 'S' 1s not important, please circle the response that 53. (IF YES OR UNCERTAIN)i Please explain any best represents the importance of the following special concerns you might have for such a to you in your choice of housing. development: Not critical Important O1) Dishwasher/disposal ~ 02) Electricity for heating ~ 03) Extre soundproofing 9 04) Fireplace for leisure use ~ OS) Gas for heating Z ~ 06) laundry facilities ? j 54. Oo you have r.,.......ates/housemates by: 07) More than one bathroom Ig 1) 3 ~ Choice (CHECK ONE ONLY) 08) On-site day care ~ 2) ¢p Financial necesslity 09) On-site parking .Z 3) .o ~ Only housing available 10) Privacy within unit 7 4) ~i Other reason: it) Private deck/patio 3F5•S space/yard 5) Not applicable, don't have roommates 12) Prozimity to child care Z I/'~ . 3 Z ~ 13) Proximity to employment Z 4' td) Proximity to athletic 2~ FINALLY. A FEM MORE QUESTIONS TO ASSIST IN facilities - please specify) CLASSIFYING YOUR RESPONSES which ones: 56. Mhat is your sex? 15) Proxlmlty to grocery stores (0 1) ~ 7 Male r1. r60 16) Proximity to sctaols S 2) s ? Female 17) Proxlmlty to skiing S.S 18) Proximity to transporta- tlon/bus routes 11 S7. rthat is your age? ~~4. 33 • a Years 19) Rental/guest rooms on-site ~ J (avaiaable~for visitors) L 58. Nhich of these categories best describe 20) Storage ~ ~p your a?arltal status? pith children at home? 21) Tot lot/children's play area 3 1) 3 ~ Single (never married) t;~{O.~Yes 22) Units that allow pets 2) 4"4" Married 2) S~ No 23) Units that encourage i 3) G living together 3) Part-time children 4) Z Separated (Summer/when 24) Units that restrict S) 3 Oivarced home from 6) y Nidoved children college/school ,n e nr vacations etc. ) 25) Other: (specify) (o 59. Mhat was the last level of school you completed? 1) I Jr. high or less) 5) ; O College graduate 49a. Fran the list above an In order or importance. 2) 1 Some high school 6) g Same post graduate xhlch 3 elements do you consider mQSt lgmartent? 3) 1 g Htgh school I 7) S Post graduate gr~lduate degree 41 ~ ` Same colleoe n = '60. What 1s your personal orlmary, source of income? 65. iiow do you oorsonally feel about the problem O1) t~ Bar/restaurant (CHECK ~ ONLY) of finding affordable housing for people 02) a Construction who work 1n Eagle County? It is: 03) $ Education t) 7j`1 The asst critical problem 1n this county 04) I Finance 2) One of the amore serious problems OS) Government 3) ~I S A problem but there are others which 06) I legal also need attention OT) 13 Lodging a) •9 One of our lesser problems 08) 4- Hedlcal 5) , S I don't believe it 1s a problem 09) 10 Professional s57 10) 3 Real estate/property atanagement Coaments: 11) g. Retail 12) - Retired , 13) 1" Service td) 2.0 Skt Corporation 15) 1 Parent or relative. /1= SS(o 16) $ Other: ,I fC'((o'Za~ ~lt14„''I(o~~ 61a. What is your personal ~econdarv 66. Iatproving the housing situation for local source of Income. 1f applicable? employees 1s a eompllcated task. what do you (INSERT i FROH 'n _ Z Sd believe would be the oast importanli thing the Q. 60 ABOYE) 16) Other: public or private sector could do to improve 00) (y'~)Not applicable. no secondary source the houstnq situation in the Eegie County region? 62. How long have you trorked for your primary employer? a. Public sector: 1) Z ` 0 - 6 months 4) t; 3 - 5 years 2) i 5 6 months - 1 year 5) (0 5 - 10 years 3) 19' 1 - 3 years 6) Over to years SSL 62a. How long have you trorked for your secondary employer if applicable? 0) S Z Not applicable no secondary employer b, private sector- 1) I $ 0 - 6 months 4) (0 3 - 5 years - 2) months - 1 year 5) (0 5 - 10 years 3) 1 - 3 years 6) Over 10 years = 447 63. what 1s the location of your prtmarv job? O1) f$ Vail Village/L1onsHead 02) I East Vail c. Combined effort: 03) s Nest Vatl 04) 3 Hinturn OS) , Z Leadville 06) , "J Red C1 iff OT) Z Eagle-Yail 08) 7 Avon 09) er Edwards 10) I Wolcott/Bellyache Ridge 6T. Overall, how likely would you be to support 11) 7 Eagle some way to increase funds Lo make housing more 12) . 7 Gypsum affordable for employees of local businesses 13) )3 Beaver Creek throughout Eagle County? /4) Z E1 Jebel /1 t) 3~- Yery likely 15) • Z Basalt ~ t- 2) ,¢3 Somewhat itkely 16) 3 G]envood Springs 17) 3 Travel around, work in multiple locations 3) I ~ Unlikely in the region 4) I, Very unlikely n = 5 40 1s) other: ,itt 1 = ~-fo~, ~ ! 3 = 19' % i 3 " a % t0C 1 I ~ 6 % Cortments: 63a. Khat 1s the location of your n=! g7 f~gs~4¢g!'~! fob. if applicable? (IM T • FROM Q. 68 A®OVE) Qq ~(o(o~~No`t-a,pp1?~le. no ssoondarY )ob 61a. Nhat vas your j~,t ~nua1 ~~1Q )11ry ;for 1988 before taxes! (ESTIMATE SHOUlO IHCIUDE ALL 68. Are you registered to vote 1n Eagle County? RESIOEHTS OF YOUR HOU5EHi0L0) i ) ~ Yes 2) ¢o No n = 558 i . / 1889 1n~. : before taxes HOUSEHOlO Thank you very much for your participation. 64b. What vas your ,lpQly/dud annual income for 1989 RRC _ February. 1990 before taxes? EMPLOYER SURVEY -EAGLE COUNTY HOUSING NEEDS ASSESSMENT' • This survey is being done as part of the analysis of housing issues in Eagle County. As a representative of Ithe business community, your response to these questions will help us understand the nature of the current housing needs and some possible solutions. Your participation and ideas are greasy appreciated. They will helpto shape housing-oriented programs in Eagle County. Please remember, all responses are confidential and your business name is optional. Return your response in the ariached postage-paid envebpe. Note: All employer surveys must be returned by March 23, 1990. Thank you for your assistance 1. Name of business 5. Total number of employees tat the present time at all (optionaq: locations: 9 0 59 (include contract labor). n =13~ 2. Business location(s) (CHECK ALL THAT APPLYJ: 5a. How many of these empbyees are permanent/ 1) 2• East Vail 9) 4- Edwards year-round full-time: ~ ~ t q 2) 3ia Vail Village 10) 7 Eagle (average 30 or more Hours per week). ~ 3) 1 S l_'ansHead 11) 1 Gypsum h ' I " 4) 7 g West Vail 12) 7 Beaver Creek 5b. How many of these employees are permanenttyear- 5) $ Mintum 13) - EI Jebel round part-timer I ~i n = 13 6) Z Redcliff 14) - Basalt (average less than 30 fto~urs per week). 7) ~ o Eagle-Vail t 5) (o Other 8) 19 Avon Specify: Please estimate how m~ any seasonal employees ~ = 1 ~ ¢ you will have in the folbwtng seasons? 3. Type of business: 01) 1~ Bar /restaurant Winter Summer Spring Fall 02) Z Grocery /liquor /convenience 1990 ~ 1990 1990 1990 03) t Sla area /recreation c. Seasonal / 04) I t General retail Full-time 1 131.E t 379 05) t I Hotel /lodging t s¢ ~ ~ _ - n ~ t j. 06) 7 Service commercial d. Seasonal 1 _ 07) t l Professional services Part-time !.?Z 7 % % ~ t 08) 7 Local government I ~ ~ i 5~- n : - ; 09) Z Education 6. Please estimate, to the best of your ability, the total 10) Z Financial /insurance number of employees you would expect tohave in w/nter 1 t) (o Real estate /property management and summer at your business two years from now: 12) -Transportation 13) I Utilities a. Winter permanent (full- and part-time): 14) $ Constn;ction /trades ¢0`l la .employees in 1992j I 15) 9 Other services n = 1 Specify: 4- b. Winter seasonal (full- and part-time): 4Set~ employees in 19921 n . 1 ~ 3a. What percentage of your empbyees would you estimate: a 1) 4z Live less than 5 minutes commuting distance c. Summer permanent (full- and part-time): ~ ~ from work n: ~ 3 9 3 employees in t 992 2) Lo Between 5 and 15 minutes from work I ~ - I j 3) 4 S More than t 5 minutes from work d. Summer seasonal (full- and part-time): ~ ~ 3 empbyees in 1992 ' ' 7 3b. At present do you have any jobs available? 1) 47 Yes 2) S3 No ,n - l 3 S 7. Of the total seasonal empbyees, what percent would you 3c. p! Yes) How many? 7 jobs estimate return from previous seasons? 4. Size of commercials ace occu 'ed: l 3 S ~ ~ n= 99 O = 17 °lo P Pt ? oo = 7 , # I •S(o How many business bcatbns do you have?I=JOx8. Impact of housing shortage on labor marked: square teat occupied (total in all bcatans)? a. This ski season, 1989/90, how many people did you 4a. If hotel /lodging: rooms. rat oiler a pb to specifically because they had no If management company: units managed. housing? 74~ (individuals) ,rr_ e ~ ~ ~w ' b. How many people did you offer a job, but they 17. On the scale below, where "1" is cxitiCal and "5' is not could not take the job due to no housing? important, please circle the response that best repre- ,~38fa (indivkiuals) n : l ~~S seats the importance of the tolbwing to you in providing empbyee housing: 9. Do you feel you have had higher turnover this season Not due to limits of housing and labor force: lt~ri~ 1) 41 Yes I~kfie~: ~ ~ 5 c!. , ~ ~ z "nod- ~ 2) Sq No n = t ~ D Making it part of a real community 33. ?1 Zg t o ~ a 2 Cost of unfts for you s~ 2 0 9 7 S i. pF YES) Can you explain your situatan: Cost of units for your empbyees c i L S 9 ; 3 i . Having your empbyees cbse to 20 2T 3s i o 9 2 yaur place of work Proximity to athleCtc tadl'dy L 6 z 1 I S S i 9 10. Does your bus(ness offer housing for any of your Proximity to skiing 3 ~ 0 2 t 2 Z ~ 4 empbyees? Proximity to child care b Z3 3 i ~ 0 30 ? 1) t Yes, all tither factors you consider Important: 2) 34 Yes, some 3) !oS No ~1 = t 3 S (SP~~Y) 11. (lF YES -YOU DO PROVIDE SOME EMPLOYEE HOUSING): 18. ti you were to provide orbe provided empbyee housing, a. How many employees do you house: where would it be and what type would you prefer? Co O empbyees. = 1, , ~ - 3~ % V~? VIA. - i8 e•Mp ~s `a. L,ocatbn of tausing: ~~~s - i2.S% Was(-1~~1 b. What type(s) of housing (unit types, bca ns~, efc Y (Town or development) Mix. and other spedal programs (childcare, transporta- b. Size of units: 2b~ ° b~xBedrooms 3 = 29 % , I = S tbn, etc.) are provided (descnbe): c. Type of Units: ('o~d o = s4 / , M~, xec(o Ib% unit d. Any comments on these responses?,~.w.,~(-. c. What is the average monthly rent perperson: r. 44 19. Suggestions: 12. (IF NO -YOU ARE NOT PROV/DWG HOUSING, OR a. What suggestions do'you have to improve the YES AND YDU VVOUt.D CONSIDER MORE Eagle County housing situation? HOUSING): Would you provide employee housing if you did not have to manage the unit(s)? 'Yes - 3 ~ 1 j ~9 Yes 2) (o ~ No ~ ^o - 5 ~ b. t ~atgovemments, and special distrktsj should do, n- lob j vncer}s~~ 13. (IF YES) Ideally, how many empbyees would you want i(arrything, to provide and encourage the provision to house by season: of affordable housing? Winter { q ~ O„~ 4$Summer S tD SprlnQ t S~ Fah ~ b 14a. In your opinbn, approximately how much should the c. Whatdoyouthinktheprivatesedor(employers,de- employee pay per morrth for housing you provide? vebpers, builders. reactors) should do, it attYthing, $ 3 OD ova , per enpbyee per mot><h to provide and encourage the provisbn of afford- ) rn odre, F f 300 4 able housing? 14b. How much would yg11 be wi~'mg to pay per month for taustrq an employee? $ 1 { 3 ~ . per errtptoyee per month J p ~ : ~ d. Wt~atdoyoutt>in{cthe mutual G~olnt) effort should be 15. Would you be willing to guarantee payment for units on between pul~c and private sectors, ff anyttdng, to a year-round basis to have un1<s available for your em- provide and encourage the provtsbn of affordable pbyees during peak seasons? housing? 1) 27 Yes 2)73 No n=tot 16. (IF YES) How much would you pay, per month, per unit to hold the unit? $ ~ ~ 7 irx~ding utilities ~ r.. ~ ?j RosaB Remmers and Cares. Inc. f990 EAGLE COUNTY EMPLOYEE PROFILE , ~ , APRIL, 1990 ~ • SOURCE: Rosall Remmen Cares. Inc. Note: Categories may not tW~ 16~9o due to partial ' tCEX: Male (Female ~ categories, rounding or multiple responses. 68'96 45~d 3196 55~'~ ,GE: Under 20 20-29 I30.34 I35~i4 45-54 55-b4~ I+65 84b 60~ 34~J 896 2098 1496 31 696 12 496 348 296 AL Single Married Live Togthr Separated Divorced Widowed TATUS: 7046 309' ]596 47 496 7 496 29' 696 14 296 OUSEHOLD <$7SM $7.5-$15M $15-$20M $20~30M $30.$45M $45-$60M >$60M _ C`(')ME: 996 1 ¢96 6 1596 5 1296 18 24% 29 196 ?A 2146 22 DIAN HSHLD AVG. MO. AVG. MO. AVG.MO. COME: 55.000 540,QQ0 REI~jT/MQR $779 Sb17 EXPENSES: X190 5212 (`OSTBDR 5 ULTS CHILDREN HSHLDS.W/ I _ HLD: 3.04 2.29 HLD: 020 0.60 NO CHLDN: .f~0 64 IDENCE IS: Seasonal Permanent TIME IN Less 3 Mos. 3~ Mos. 1-3 Yrs. Over 3 Yrs. l00% 100 REGION: 67'96 8 1696 10 1046 15 896 68 RESENT Vail Eagle/Vail Avon/Wild Edwards Eagle ~Gypstim Minturn OUSING IN: 5596 259' 1196 139' 996 14 1996 129' 8 ~ 10 446 4 IDENCE S.F.House Duplex Apt/Condo MobileHm Dorm. Rooml Other E: 696 249' 1996 21 4896 37 1596 15 1096 1 I 296 29' YOU Own Rent RntRm Caretake Other I RESENTLY: 496 409' ~ 569' 29b 24' 2 LAN TO STAY <3 Mo 3-6 Mo 6-12 Mo 1-3 Yr 3-10'~'r >10 Yi DontKnow REGION: 57'96 39' 1296 3 696 2 496 149' 296 14 ~ 44 2096 20 OUSING Bargain AbtRight TooMuch I _ ALUE: 1496 15 3596 46 5196 40 ATISFACTION VerySat I Sat Dissat VeryDis EVEL: 1396 259' 5496 51 3096 20 496 5 YOU Own I Rent (Lease I 2896 73 6296 17 1096 10 EMPL HSG Rent base Neither Uncertain TAIL WOULD: S7°lO 2 ~4 2396 2'~ OUSING TYPE S.F.House ~ Duplex Apt/Condo MobileHm Dorm. Cabin Other _ ~T CHOIlrE: 34% 70 I2% 7 2896 11 496 2 296 1696 10 496 OUSING 1 C'IN Vail EagleNail AvoNWild Edwards Eagle Gypsum Minturn ST CHOICE: 70°k 32 996 11 696 9 296 129' 10 296' S 296 4 HOUSEHOLD INCOME LST. CHOICE • TYPE ~ ~ ss~, ~o -I - - ~ i toy m S 10 - I csT xi0,S45M aS60M I ~ ~ IDupla MoEikNm~~ Cabin O~ S7SS]SM SZOS30M i4SS60M PRrrr.~.F3VCE IIVCOME i ~ ov~ri ®c~at~ARaaw n ovewi ®oa~,u~sonr N= 53 SF.fI.SONAL EMPLOYF.~S N= 495 PEA EMPLOYEES EAt~LE COUNTY EMPLOYEE PROFILE ,e?1~Rn.,1990 SOURCE: Rosall Remmen Cares, Inc. Note: C;ategones may not total il)V% due to partial ~CEX: Male Female I ~ cateaories_ roundin¢ or muldn_le responses. _ SO~o 41% 50% 59%d GE: Under 20 20-29 30-34 35-44 45-54 55-64 +65 l% 1 46% 17% 1796 24 21% 45% 11% 12% 3% 1 I% AL Single Married Live Togthr Separated Divorced Widowed STATUS: 48% 6% 3]% 71% 7% 5 3% 2% ll% 163' I% OUSEHOLD <$7SM $7.5-$15M $15-$20M $20-$30M $30-$45M $45-$60M >$60M INCOME: 296 1% 6% 4% S% 7 17% 18% 3096 26% 114% 21 2196 23% DIAN HSHLD AVG. MO. AVG. MO. AVG. MO. CAME: ~40.Oi00 $40.000 RENT/MOR $620 5652 EXPENSES: S'186 5264 COST/BDR $392 53 LILTS CHILDREN HSHLDS.W/ SHLD: lrt5 2.22 SHLD: 1.70 NO CHLDN: I IDENCE IS: Seasonal Permanent TIME IN Less 3 Mos. 3-b Mos. 1-3 Yrs. Over 3 Yrs. 13% 3% 88% 97% REGION: 18% 4% 13% 6 16% 10 53% 803' RESENT Vail Eagle/Vail Avon/Wild Edwards Eagle Gypsum Minturn OUSING IN: 3896 9% l2% 159' 17% 9 10% 18% 6% 109' 596 17 4% 79' IDENCE S.F.House Duplex ApVCondo MobileHm Donm. Room Other E: IS% 36% 20% 23% 48% 189' 12% 219' 2% l% 19' 2% 1% YOU Own Rent RntRm Caretake Other RESENTLY: 2996 53 % 68% 41 % 1 % 1 % 4 I % 3 LAN TO STAY <3 Mo 3-6 Mo 6-12 Mo 1-3 Yr 3-10 Yr >10 Yr DontICnow REGION: 1296 1 4% 2% 4% 1% IS% 10% 12% 16% 3596 50 1996 20 OUSING Bargain AbtRight TooMuch ALUE: 16% 13% 45% 47% 40% 40 ATISFACTION VerySat Sat Dissat VeryDis EVEL: 23% 26% Sl% 52% 21% 18% S% 6% YOU Own Rent Lease REFER: 62% 83 27% 10% 11% 8% EMPL HSG Rent Purchase Neither Unctxtain WOULD: 3~%' 19% 2% 19% 29% 29~' 29% 29% OUSING TYPE S.F.House Duplex ~Apt/Condo MobileHm Dorm. Cabin Other ST CHOICE: 5896 87% 10% 4% 16% 4% 3% 1% 13% 3 196 1% OUSING LCTN Vail ~Eagle/Vail IAvon/Wild Edwards Eagle (Gypsum IMinturn ST CHOICE: 46% 14% 10% 15% 12% 5% 7% 18% 7% 13% 2% 9 3% 5% HOUSEHOLD INCOME 1ST. CHOICE -TYPE ~o~ ~o,~. t~ m~ - ~ U u56 _ ~ so - ion, - - ~o~ O ltr 47 :IS~fitOM >i30,S45M >S60M S.F.Eiare A.pt! Darin other S7S-SLSM St4330M S~tS-S60M ID~Pta MahOefha Cahtn IIVCOME p~''~-"~~ ~ av~u ®taowau¢aav ~ ov~u ®taor~,uetsouv N= 370 HOUSEHO1l~S Wll'HOUI' CHII~REN N= 184 HOUSEHOLDS WITH CHII.DREN EAGLE COUNTY EMPLOYEE PROFILE K ~ , APRIL., 1990 n. • SOURCE: Rosall Remmen Cares, Inc. Note: t::ategones may not total 1W'lo due to partial - icFX; Male Female ~ cateaories,~roundina or multiple responses. " 5196 479' 4796 S39'~ _ - _ GE: Under 20 20-29 I30-34 35.44 II45-54 SS-64~ II+65 1 4896 369'a 2396 199' 1896 29~d 796 11 396 39td AL Single Married Live Togthr Separated Divorced Widowed I STATUS: 4096 349' X696 449' A96 69' 29' 1396 139' ~ 19d OUSEHOLD c$7SM $7.5-$1SM $15-$20M $20-$30M $30-$45M $4S-$60M >$tiOM COME: 496 29' 496 S9' 39b 69' 1696 1$9' 2596 29 2Q96 19 2196 229' DLAN HSHLD AVG. MO. AVG. MO. AVG.~MO. COME: ~i9.000 $40.000 RENT/MOR X584 Sti2$ EXPENSES; ~2?Y $210 COST/BD $39S $379 ULTS CHILDREN HSHLDS.W/ ~ _ HLD: 2.61 2.36 /HSHLD: 030 0.56 NO CHLDN: 79 67 IDENCE IS: Seasonal Permanent TIME IN Less 3 Mos. 3-{ Mos. 1-3 Yrs. Over 3 Yrs. 756 10 9196 90 REGION: 346 3 1396 119' 1896 14 5296 62 RESENT Vail Eagle~Vai1 Avon/Wild Edwards Eagle Gypsum IMinttun OUSING IN: 28%d 13~ 149' 139' 7 ~ 99ii S IDENCE S.F.Hotlse Duplex Apt/Condo MobileHm Darm. Room Other E: 456 22% l24'0 204' 6846 37 1496 159' 3"yo 19' 1 29' YOU Own Rent RntRm Caretake Other SENTLY: 2796 369' 699'o S9 146 2 396 2 LAN TO STAY c3 Mo 3~ Mo X12 Mo 1-3 Yr 3-10 Yr >10 Yi DontKnow REGION: 896 9 446 3 446 3 1046 139' 1246 134' 3996 40 2296 209' OUSING Bargain Abtltight TooMuch ALUE: 1396 15 4496 459' 4196 40 ATISFACTION VerySaz Saz Dissaz VeryDis EVEL: 2096 249' 5396 S1 2196 209' 496 59' REFER: 5896 69%d Re25p7o 229'~~1446 109' ' EMPL HSG Rent Purchase Neither Uncertain ?AIL.y?OULD: 3Jt96 ?79' 16% 149' 2796 32 2.596 279' OUSING TYPE S.F.House Duplex Apt/Condo MobileHm Dorm. Cabin Other ST CHOICE: 6246 67 846 $~Y 1496 12 496 201 196 99fq 10 896 1 OUSING LCTN Vail Eagle/Vail Avon/Wild Edwards Eagle Gypsum Mintwn ST CHOICE: 27'96 3S9' 746 119' 4496 99' 596 119' 146 9 ~ 49' S46 39' HOUSEHOLD INCOME 1ST. CHOICE -TYPE sow ,o ss~ so - .o u~ ~ i log, - - x~ m S 1~ I. I_ Dorm. Otbar 09t . 47 1SStOM xiOS45M >S60M J S.F.lio~re ApN ~ , i7SS1511'I S~OS.'!OM S4.S-S60M I~ Mobuells C~a6to IIVCOME PRr~r~`l~r'3VCE ~ ava7uri ®aan~,u:sav to ov~ri t®aaba,+Rrso~v N= 77 AVON/WII~RIDGE N= S60 OVERALL EAGLE COUNTY EMPLOYEE PROFILE AI'R1L,1990 SOURCE: Rosall Remmen Cares, Inc. ote: gones may not to 1 ue to partial 'SEX: Male IFemale cate¢ories roundin¢ or multiple resnonses. 4196 47~d 5696 53R' --3 - - - ~ - - - GE: Under 2~ 19~~ ~ l4~ 36'Yd30109b 19~d35 3796 299'd45 2296 119455 296 3 1+65 AL Single Married Live Togthr Separated Divorced Widowed g~ STATiIS: 1296 349' Sb% 44 296 6 296 29' 24% 13 1 HOUSEHOLD c$7SM $7.5-$15M $15-$20M $20-$30M $30-$45M $45-$60M >$60M COME: 2 796 59' 296 69' 2Q96 189' 3296 29 1596 19 1796 22 DIAN HSHLD AVG. MO. AVG. MO. AVG. MO. (:OME: ~3~~Q0 $40.000 12ENT/MOR X529 $628 EXPENSES: 16 $210 C'OSTBDR S3 ULTS CHII,DREN HSHLDS.W/ _ HLD: 1.98 2.36 SHLD: 095 0.56 NO CHLDN: 53 67 IDENCE IS: Seasonal Permanent TIME IN Less 3 Mos. 3~ Mos. 1-3 Yrs. Over 3 Yrs. 109' 9396 909' REGION: 396 3 396 119' 1096 14 7696 62 RESENT Vail Eagle/Vail Avon/Wild Edwards Eagle Gypsum Minturn OUSING 1N: 289' 13% 149' 139' 7 9 5 IDENCE S.F.House Duplex Apt/Condo MobileHm • Dorm. Room Other E: 3996 229' 2496 209' 79b 37 2496 15 1 296 1 296 2 YOU Own Rent RntRm Caretake Other I2ESENTLY: 5196 36 46% 59 29' 29' LAN TO STAY c3 Mo 3-6 Mo 6-12 Mo 1-3 Yr 3-10 Yr >10 Yr DontlCnow _ REGION: 9 39' 296 3 590 139' 279b 13 4986 40 1796 OUSING Bargain AbtlZight TooMuch ALUE: 1296 159' S4°k 45% 2996 40 ATISFACTION VerySat Sat Dissat VeryDis - EVEL: 37'06 24 2996 51 % 3496 209' S YOU Own Rent Lease REFER: 7696 699' I79o 229' 596 10 EMPL HSG Rent Purchase Neither Uncertain 2Q96 27 29h l4 32°,6 2 3496 27 OUSING TYPE S.F.House Duplex Apt/Condo MobileHm Dorm. Cabin Other S'~ ~,Q14E: 7696 67 296 8% s96 12 S96 29' 1096 )Q OSTCHOICE: 1096 35%d~g ~ ~ 1% Avon/Wild9~ Edwards 11 5996 9 G ~ 4 3 HOUSEHOLD INCOME 1ST. CHOICE • TYPE so, ~ sew io96 - - - - - - ~ O ~ s7S,SISM S'~xlOM S45~S60M ~M • ~ t''~0~~'~~ ~ IIVCOME per' ~ o?~wi ®oa?+~nwsav ~ ovs~ ®cbra~rsaw N= 41 EAGIl N= 560 OVERALL EAGLE COUN'T'Y EMPLOYEE PROFILE ~ • , APRIL. 1990 • SOURCE: Rosall Remmen Cares. Inc. Rote: Categories may nat total 100~Yo due to pait~al ~~EX: Male Female f ! cate¢ories„ rounding or multinle responses. 4446 47~ 5696 S39d I` {AGE: Under 20 1~~319'0 369'd~2/196 1994353696 299id451~96 119dSS~ 3+65 I AL Single Married Live Togthr Separated Divorced Widowed STAT[ JS: X696 349' 39% 44 496 6 396 29' 1546 ~ 39' ~ 1 OUSEHOLD <$7SM $7.5-$15M $15-$20M $?A-$30M $30-$45M $45-$60M >$60M (`()ME: 29' 496 S 796 69' 1446 18 2496 299' 1696 19 2Q% 22 DIAN HSHLD AVG. MO. AVG. MO. AVG! MO. ME: S4t1~10 5400 ~tENT/MOR S~0 5628 EXPEN$E$; 5'257 $210 COS'~(BD X446 537 ULTS CHII.DREN HSHLDS.W/ HLD: 2S0 2.36 SHLD: OS6 0.56 NO CHLDN: 61 67 IDENCE IS: Seasonal Permanent TIME IN Less 3 Mos. 3.6 Mos. 1-3 Yrs. Over 3 Yrs. _ 996 10 89% 909' REGION: 396 3 3'96 11 1696 14 5696 629' OUSING 1N: Vat) 289d~gl~a 139'~Avon/Wi114 Edwards 13 Eagle 79dG~~ 99H~~ S IDENCE S.F.Hot>se Duplex Apt/Condo MobileHm Dorm. Room Other E: 396 229' 4146 209' 5396 37 1S9' 19' 3Q6 1 24' YOU Own Rent RntRm Car+etake Other ItESENTLY: 2696 369' 7196 599' 196 29' 1 ~ 24' LAN TO STAY c3 Mo 3-6 Mo 6-12 Mo 1.3 Yr 3-10 Yr >10 Yr DontlCnow REGION: 9°k 9% 6°k 3 3 2496 139' 1796 139' 2696 40 1996 20 OUSING Bargain Abtltight TooMuch ALUE: 696 159' 469'0 4S9' 4996 40 ATISFACTION V Sat Sat Dissat VeryDis EVEL: 2196 249' 60% S19'~ 1196 209' 496 59' YOU Own Rent Lease 6096 69 23% 229' 1446 10 EMPL HSG Rent Purchase Neither Uncertain .WnjJ~,D: ~J6 27g 249'0 4 .?.796 32 2396 27 OUSING TYPE S.F.Hottse Duplex Apt/Condo MobileHm Dornn. Cabin) Other ST~IOIlrE: 6196 679' 119'0 89' 1996 129' 29' 696 10 1% 19' OUSING LCTN Vail Eagle/Vail Avon/Wild Edwards Eagle Gypsum IMintttrn ST CHOICE: 2096 354' S69'o 119' l96 9 996 I 1 l96 99' I 4 196 3 HOUSEHOLD INCOME LST. CHOICE -TYPE ~I 3096 ~ ~ ss~ _ W 2096 ~ N 1596 ~ 396 ' 1096 b 5 lta ....I i _ 09L 47 ISSZOM 1;30,S45M aS60M SF.Hasc ApH Dorm- Otber =7S,SlSM xW~S30M S4S,S60M Dr~a MOLOdrm (arbtn INCOME PRr~rxl>ET1CE ~ av~tau ®aa?~,uusav ~ overt ®ava~~sorr N= 70 F.4GLFJVAIL N= 560 OVERALL f' ,EA LE COUN'T'Y EMPLOYEE PROFILE ARRII., 1990 SOURCE: Rosall Remmen Cares. Inc. Note: t;ategones may not total 1 W ue to partial ~~EX: -Male Female categories, rounding or multivle resaonses. 4096 479' 60% 539' GE: Under 20 20-29 II30-34 35-44 45-54 55-64 I+65 1 1296 369'd 2396 19`Yd 4696 299' 14% 11 4% 3~9d 296 AL Single Married Live Togthr Separated Divorced Widowed STATiJS: 8% 349' S89'o 449' 10°16 ti 4% 29' 17% 139' 2% 19' OUSEHOLD <$7SM $7.5-$15M $15-$20M $20-$30M $30-$45M $45-$60M >$6pM COME: 29' 59' 2% 6 27% 18 2396 29 ~p96 19 1496 22 DIAN HSHLD AVG. MO. AVG. MO. AVG. MO. ,CAME: JS40A00 $40.000 RENT/MOR $Sl4 $628 EXPENSES: $250 $210 COSTBDR $:?OZ 5379 ULTS CHII,DREN HSHLDS.W/ SHLD: 212 2.36 SHLD: 1.08 0.56 NO CHLDN: 39 67 IDENCE IS: Seasonal Permanent TIME IN Less 3 Mos. 3~b Mos. 1-3 Yrs. Over 3 Yrs. 109' 918% 90 REGION: 3 2% 11 1496 14 7996 62 RESENT Vail Eagle/Vail Avon/Wild Edwards Eagle Gypsum Minturn OUSING IN: 289' 139' 14 13 79' 9 S IDENCE S.F.House Duplex Apt/Condo MobileHm Donn. Room Other E: 50% 229' 1496 209' 2% 37 3396 15 19' 1 2% 29' YOU Own Rent RntRm Caretake Other RESENTLY: 64% 369' 33% 59 296 2 2% 2 AN TO STAY c3 Mo 3-6 Mo 6-12 Mo 1-3 Yr 3-10 Yr >10 Yr IDontKnow REGION: Z% 9 496 39' 2% 3 1596 13 13% 139' 46% 40 1796 20% OUSING Bargain AbtRight TooMuch I _ ALUE: 2096 15 39'96 45°I 4096 409' ATISFACTION VerySat Sat Dissat VeryDis I EVEL: 17% 249' 56°16 51 % 1796 209' 10% 59' YOU Own Rent Lease I 91096 699' 8% 229' 10 ' EMPL HSG Rent Purchase Neither Uncertain ~J6 !q% 14 3796 ~2. 4296 279' I OUSING TYPE SF.House (Duplex ~Apt/Condo MobileHm Donn. Cabin (Other ST CHOICE: 87% 679' 8% 129' 2% 29' 1096 109' 1 OUSING LCTN I Vail IEagleNail JAvon/Wild Edwards Eagle (Gypsum ~Minturn ST CHOICE: 2% 35 4% 119' 496 9 1096 119' 2596 99' 37% 4 3 HOUSEHOLD INCOME LST. CHOICE -TYPE - ~o zs~ eo - m~ ~ W~ u96 _ zto~ ~ s ~ 47 15,~20M S30~S45M >s60M sF.Hcrre Ap/ Dorm o~ ' S7S,SLSM S,t4S30M S45S60M ModkHm dWo INCOME PRrrrnlET1T 1ICE ~ av~ui ®aox~,uersav t, ov~uri tt®avu~.urrsonr N= 52 GYPSUM N= 560 OVERALL EAGLE COUNTY EMPLOYEE PROFILE . - , APRII., 1990 SOURCE: Rosall Remmen Cares, Inc. - Note: tegones may not to ue to partial ~CEX: Male Female ~ categories, roundin~¢ or multiple re~,,...ses. 4996 47%~ 5196 53% ~ GE: Under ~ 1%d~33% 36%3a 996 19%d35Z996 29%d451d96 11~55~ 3+65 AL Single Married Live Togthr Separated Divorced Widowed STAT4JS; 309fo 34 4796 44% 7'96_ 6% 396 2 139'0 13- ~ 1 OUSEHOLD c$7.SM $7.5-$15M $15-$20M $20-$30M $30-$4SM $45-$60M >$60M (:OME: 196 2% 496 S% b96 6 99b 1$% 1796 29 17'96 19 3196 22% DIAN HSHLD AVG. MO. AVG. MO. AVG! MO. IyIE: ~Wl~4Q(I $40.000 RENT/MQR $1ll ~2 EXPENSES; $Z11~210 COS'~'BDR~~7Q $37 ULTS CHILDREN HSHLDS.W/ ~ HLD: 2.46 2.36 SHLD: 0.83 O.S6 NO CHLDN: 54 67 IDENCE IS: Seasonal Permanent TIME IN Less 3 Mos. 3fi Mos. 1-3 Yrs. Over 3 Yrs. 1496 10 8496 90% REGION: 196 3 1 b% 11 % 996 14 6796 62 RESENT Vail IEagle/Vail Avon/Wild Edwards Eagle Gypsum IMinttun OUSING IN: 28%d 13%~ 149' 13% 7 99fd 5 IDENCE S.F.House Duplex Apt/Condo MobileHm Dorm. Room Other E: 30% 22% 2196 20% 1396 37 3496 1S9' 1 ~ 1 29' YOU Own Rent RntRm Caretake Other RESENTLY: 4396 369' 4796 S9% 196 496 2% 496 2 TO STAY c3 Mo 3-6 Mo 6-12 Mo 1-3 Yr 3-10 Yr >10 Yr DontlCnow REGION: 496 9% 496 3% 396 3 1996 13% 1096 13 396 40 2196 20 OUSING Bargain AbtRight TooMuch ALUE: 1396 15 2796 4S% 5496 40 ATISFACTION V Sat Sac Dissaz V Dis VEL: 2096 24%~ 50°lo S 1 % 1996 20 796 S% REFER: 07196 69%~ R1196 22%~ 1496 10%~ ~ ' EMPL HSG Rent Purchase Neither Uncertain ~AIL_WOUL,D: 296 21% 1796 14% 3696 26 OUSING TYPE S.F.House Duplex Apt/Condo MobileHm Dorm. Cabin Other ST CHOICE: 8096 67% 696 S% 396 12% 196 2% 996 10 19' OUSING LCTN Vail Eagle/Vail Avon/Wild Edwards Eagle Gypsum Minturn ST CHOICE: 1696 3S% 7°,b 11% 1696 9 4446 11% 496 9 196 4 39' HOUSEHOLD INCOME 1ST. CHOICE -TYPE I 3s96 ao 3096 ~ - -I ss96 ~ ~ Zo96 - ~ so~6 i ID 1596 ~ ~ I~----•-----.._........-- to96 - - - - - J I - 09: S.F.Eioue~~ApH 11loblMf~mDnm C~61a Other , ~ sus-tisM i2as3o~~s-s6o ~M PRrrr~alOVCE IIVCOME i ~ ov~ri ®cn~,uesav o• av~uri ®aar~~sanr N= 70 EDWARAS N= 560 OVERALL i r EAOLE COUN'T'Y EMPLOYEE PROFILE ABRIL, 1990 SOURCE: Rosall Remmen Cares, Inc. Note: C;ategones may not to 1 ue to ~CEX• Male (Female categories, rnundina or muldnle responses. 5296 47~d 48% 539' GE: Under 20 20-29 30-34 I35~4 45-54 SS~i4 +65 12% 19'd 16% 36 48% 1991 1696 29~ 896 11 39' AL Single Marred Live Togthr Separated Divorced Widowed STATUS: 28% 34% 6096 449' 496 6 496 2 139' 19' OUSEHOLD c$7SM $7.5-$15M $15-$20M $2A-$30M $30-$45M $45-$60M >$60M NCOME: 29' 496 S9' 496 6 ~Tl% 1R 2596 29 l¢96 199' 12% 229 DIAN AVG. MO. AVG. MO. AVG. MO. COMES 579.000 54000 RENT/MOR X452 5628 EX~ENSE.S: 5196 5210 COSTBDR ~?4L3 $ ULTS CHII.DREN I3SHLDS.W/ SHLD: 220 2.36 /HSHLD: 0.96 0.56 NO CHLDN: 52 67 IDENCE IS: Seasonal Permanent TIME IN Less 3 Mos. 3~ Mos. 1-3 Yrs. Over 3 Yrs. 896 10 84% 909' REGION: 3 896 11 496 149' 8096 62 OUSING IN: Vail 28°Id~l~ 139' Avon/Wi114 Edwards 13 (Eagle 7~Gypsum Minturn g~ 9 59' IDENCE S.F.House Duplex Apt/Condo MobileHm Dorm. Room Other E~ 4046 22g' 12% 209' 8°k 37 41196 159' 1 1 29' YOU Own Rent RntRm Caretake Other RESENTLY: 14'46 369' 36% 599' ~ 2 2 TO STAY c3 Mo 3-6 Mo 6-12 Mo 1-3 Yr 3-10 Yr >10 Yr DontICnow REGION: 99' 39' 496 3 16% 139 1696 13 44% 409' 1296 209' OUSING Bargain AbtRight TooMuch ALUE: 2096 159' 6896 459' 1296 40 SATISFACTION VerySaz Saz ~Dissaz ~VeryDis _ `?EL: 40% 24% 48% 51 8% 20 496 S YOU Own Rent yLease FER: 80°J6 699' 8% 22°/d 1296 1 r' EMPL HSG Rent Ptmchase Neither Uncertain ?AIL.WOjJj.D: 2Q96 27~' 1R% 1 3 279' OUSING TYPE S.F.House Duplex ApVCondo MobileHm Dorm. Cabin Other ST CHOICE: T2% 679' R9' 496 12 4'96 2 1696 109' 19' OUSING LCTN Vail Eagle/Min Avon/Wild Edwards Eagle Gypsum Mintt>rtt ST CHOICE: 2096 359' 4% 11 9 496 11 9 4 5696 3 HOUSEHOLD INCOME LST. CHOICE -TYPE ~ W - m~ . . ~ .ems ion - s i~~ - 09G. 47 s73,SLSM x20,S30M ~S60M ~M J ~ ~ M0~°p~ ~ q~ IIVCOME Pttrrr~.lF3dCE ~ a,~y ®~,~,v t? ov~wi to tx~autrso~v N= 2S MIM'U1e1V _ N= 560 OVERALL / EAGLE COUNTY EMPLOYEE PROFILE i , APRIL. 1990 I ' SOURCE: Rosall Remmen Cares, Inc. Note r;ategon s may not total IW9o due to partial I.SE){• Male IFemale cateQOries, rounding or multiple responses. 4596 474'd 5546 533 GE: Under ~ 1~~53~& 364'd~129b 194'352396 29 45-746 11 55 4961 3~~5196 AL Single Married Live Togthr Separated Divorced Widowed TATUS: X696 344' 249io 44 796 6 196 29' 1146 1 196 1 OUSEHOLD <$7SM $7.5-$15M $15-$20M $20~30M $30-$4SM $45-$60M >$60M COME: 396 29' ¢46 S 796 6 196 18 3346 29 219,6 19 1696 22 DIAN HSHLD AVG. MO. AVG. MO. AVGl, MO. COME: S39 5_540.000 REI~T/MQR 77 $628 EXPENSES: 5'1~7_~210 C:OST/BD X416 $37 ULTS CHII.DREN HSHLDS.W/ SHLD: 2A7 2.36 HLD: 013 0.56 NO CHLDN: 9 67 IDENCE IS: Seasonal Permanent TIME IN Less 3 Mos. 3~ Mos. 1-3 Yrs. Over 3 Yrs. 19% 1 8196 904' REGION: 396 3 1896 11 1796 14 5196 629' RESENT Vail Eagle/Vail IAzrow/Wild Edwards Eagle Gypsum Minturn OUSING IN: 284' 139' 14 134' 7 ~ 9 59' IDENCE S.F.House Duplex Apt/Condo MobileHm Donn. Room Other (096 22 2196 20 6196 37 159' 496 1 1 496 29' YOU Own Rent RntRm Caretake Other RESENTLY: 2096 369' 7696 S99' 246 29' 296 2 TO STAY <3 Mo 3~ Mo 6-12 Mo 1-3 Yr 3-10 Yr >10 Yr DorttKnow REGION: 2096 9 596 34' 496 3 1496 139' 89b 139' 3296 40 1996 209' OUSING Bargain IAbtRight TooMuch ALUE: 1396 1S9' 4696 4S 419b 40 ATISFACTION VerySat II Sat ID~ssat VeryDis VEL: 2096 244J~ 5096 S19d 2596 20 546 54' RrrrrcU 5896 69%d R3n596 229'd 896 109'd EMPL HSG Rent Purchase Neither Uncertain _ VAIL.WOjljp: 396 7Q% 14 2746 3 2596 2 OUSING TYPE S.F.House Duplex Apt/Condo MobileHm Donn. Cabin ~ Other ST CHOIQE: S2% 679' 13°16 89' 1946 12 l96 29' 1290 10 296 1 OUSING LCTN Vail le/Vail Arrow/Wild (Edwards Eagle Gypsum Minturn ST CHOICE: 8196 354' 396 119' 296 9 S% 114' 2~Xn 9 ~ 4 34' HOUSEHOLD INCOME LST. CHOICE -TYPE ~ as96 r, ,......._...._..i - - ~ ~o~ -i - - io~ - - - ~ S 1~ ~ ...i...... 09i M S3o•S45M aS60M 19E S.FJiaue ApN I Dona Omer ISS20 d7 MamieHm Came o~ t7S f15M i~OS30M S45-S60M p~+rnII11CL e av~ri ®aa~,+RSO~v ~ avs~tt ®rnr~ewsaw N= IS7 VAIL N= 560 OVERALL yf Dear Mayor Rose and Council Iiembers: Under the circumstances of this issue I am resubmitting my letter of June 13th. E. F. Mayne Jr. REC'0 JUN 2 91890 E. F. MAYNE JR., INC. REC'U J U N 2 91990 100 WEST LONG LAKE ROAD. SUITE 220 , BLOOMFIELD HILLS, MICHIGAN 48013 313 - 258-0300 June 27, 1990 Mayor Kent Rose and Town Council Town of Vail 75 South Frontage Road Vail, Colorado 81b57 Subject: Mark-Marriott Property Building Expansion Program Dear Mayor Rose and Council Members: My name is Edward Mayne and I have owned Condominium A-5 in the Cross Roads Building, Vail, since 1968. As an owner of a condominium in the core of Vail who spends approximately 80 days per year during the winter months in Vail, I wish to express my concern and objection to the Mark- Marriott proposal to add an additional 74,000 square feet on their property in Lionshead for the following reasons, based upon my personal knowledge, feelings, and information provided by others who are in agreement with my opinion. The Marriott properties will be built beyond maximum density and square footage. . The Marriott has at least twice previously been given the privilege to exceed the building code permits originally designed for the present Marriott building which not only creates an abuse in over-taxing the intent, but compounds the problem when combined with additional exceptions to the building code. . 'The high rise of hotels and condominiums along Gore Creek in Lionshead already presents a formidable wall of unbroken mass and, in my opinion, runs contrary to the original plan of maintaining an openness and a green belt between concentrated building sites. . It has been recognized mistakes have been made in maintaining a balance between building and nature. Why compound it with another potential mistake of this magnitude. Over the years, the art of negotiating and achieving the objectives of over-zealous land developers and owners has pretty much washed away the early concepts of Vail's planning and environmental objectives. t June 27, 1990 Page 2 of 2 Mayor Kent Rose and Town Council Vail, Colorado 81657 Subject: Mark-Marriott Property Building Expansion Program I understand the people representing the Mark-Marriott property interests, presenting statistics, documentation and promotional assistance, have no invested interest in the town, with questionable responsibility in the town's best interests. I believe Mark-Marriott is a franchised management hotel chain which is profit driven and holds little owners' personal concern for the impact of its excesses on the community. Historically, if investment does not justify the means, the real estate is cast off to the highest bidder with little feeling to the impact of the community. The present facilities and proposed expansion presents substantial potential future problems. It is obvious in many cases promises made for concessions given by previous planning environmental commissions have not been fulfilled, leaving a compromised construction and landscaping mess. In my opinion, Vail does not need athird-tier, time sharing, housing project and the economic community attracted. The maintenance and repair of this type of housing only adds to an already overloaded service community. The economic troubles affecting credible housing projects such as the Athletic Club and the Westin, and the possibility of others in a very shakey position, only adds to reasons against this proposal. The mountain is already overcrowded and until this condition is corrected, why compound the problem with more skiers who contribute little to the mountain or commercial environment of the town. What is financial solvency of the group proposing this addition. I would respectfully cast my vote against such a project. Sincerely, E. F. Mayne, Jr. EFM: ms-90-1040 i - , ~ ~ REC'D J U N 2 81990 - ~ ' ~:..;L~.'•,s t a$~0{Ifl~d Ott K s41~ T,y~ ''(ll~tt a • A Cox Newspaper ~ , + ~ . _ • t f ~~George Orbanek j ` ~ ~ _ Editor ar~d Publisher _ _ a.N. Bulling, Publisher 1893-1911. ~ .;T' y ~ .F ~ ~ . . _ _ ......Larry J. DeGolyer .'alp . _ _g~K3~llf Iter Walker, Publisher tg11-1956 - • Gener8l tylanager °•~~ilton VYalker, Publisher 1956-1.970 ~ ;;.,~pennts M. Herzog "-'Kenneth Johnson, Publisher 1970-t979 :~!Aanaging Editor ~:m:~,~ ~oF: ,James C. Kennedy, Publisher 1979-1985 - f Daily Sentinel editorials~.:~~. :.v• Hume is where ~ ~~_s:t ~ ~ the ellmari~ ~s ~ ~ t ` ~ t" :?t+i~ _ fly"~,'r' ~''~w:i4.i,~i;~';-`<l. • ~ xcuse us for not show- ~ •'day, plop into their well-worn ' ( ~ ing proper deference, ~ easy chairs and listen, to the _ but we're having a dif- ~ 'kids complain ~'about~ having . ficult time trying to muster the ;same thing :fors;: dinner . pup some sympathy_ for a few every night..: ; • l condominium owners in Vail Nope. He. found 12'.build- ' ;whose property taxes are• ,ings •owned not a't ~all.sur=;?. • " • ~ ;going up if the Eaglfv County ; prisingly in .a pricey'ski:town - assessor, has anything to say 'like Vail ='by absentee`own- - ~aboutit: rs~;.:.;~`; `~::~s'::., •=ers who use their.condos:as • By way of background, Ea- ' second homes ~•just ';~•~~'#'ew ~ • ogle County Assessor Allen weeks' a year. ,The rest'of the . ` :Black recently reclassified 12 time. they are rented out toy;''. ;condominium complexes in skiers and• tourists:...Just in.'. ; ,Vail from residential to com- ' .case anyone. might ,get too ~ ` _ mercial. • ` ~ "sympathetic to the condomi- = ' Now he didn't exactly do ~ nium owners,. it should be ' this on a whim. Nor did he do noted, as Black noted, 'that it on his own initiative. He the buildings even have front ~ was prompted to take a look ` -desks and lobbies =~#;;>two "ar=: at how these dozen buildings . ~ `.chitectural . features `.that were used after some hotel might make a reasonable per- . ~ owners complained that their son conclude that the build- • tax rate -the commercial, 29 ings really aren't residential. percent rate -was higher • Well, the hue and cry was s than the 15 percent residen- : • intense. and predictable. The - tial rate. paid by the owners condominium owners, via of the condominiums in the long distance from their real . 'mil . j ~ suspect buildings. ~ residences, cried foul. They , ~ ! - 'Assessor Black did investi-..: want their residential classi- 4 -gate, and what he found was fication back. _But the Eagle • :i not a bunch of cozy resi- . ~ County::fassessor made the dences, where mom and dad ''pproper . move. ~ His.. reclassifi=, . - ' come home from work every ,`nation should stand. - ~ ~ • 4 Colorado Rea~lrEitete Commuaon~8 45/89) o THIS IS A I.BGAL INSTRUMENT, lI+ NOT UNDIiRSCOOD,1.1?GAL, TAX OR OTtlElt COUNSEL StIOUI.D 13t3 CONSULTED BEFOtLB SIGN{NG. VACANT LAND CONTRACT TO BUY AND BELL REAL EBTATE Seller's remedy Liquidated Damages or Specific Performance (Section 16) ,19 1. PARTIES AND PROPERTY. Town of Vail , purchaser(s) (Purchaser], (as joint tenants/tenants in common) agrees to buy, and the undersigned seller(s) ]Seller], agrees to sell, on the terms and conditions set forth in this contract, the following described real estate in the County of ,Colorado, to wit: ' Lots 2 and 4, Block H, Vail das Schone Filing 2 • i known as No. 2487 and 2477 Garmish Drive ~ , (Street Address) ' Vail, CO 81657 , (City, State, Zip) together with all interest of Seller in vacated streets and alleys adjacent thereto, all easements anti other appurtenances thereto, all improvements thereon ant) all attached fixtures thereon, except as herein excluded, and called the Property. 2. INCLUSIONS. The purchase price includes llte following items (a) i! attacltecl to the Property on the date of this contract: lighting, heating, plumbing, ventilating, and air conditioning fixtures, TV antennas, water softeners, smoke/fire/burglar alarms, security devices, inside telephone wiring and connecting blocks/jacks, plants, mirrors, Door coverings, intercom systems, built-in kitchen appliances, sort sprinkler systems and controls; (b) if on the Property whether attached or not on the date of this contracL• built-in vacuum systems (including accessories), storm windows, storm doors, window and porch sbaelcs, awnings, blinds, screens, curtain rods, clrapcry rods, fireplace inserts, tircplacc screens, fireplace grates, heating stoves, storstbc sltecls, all keys sort garage fluor openers including remote controls; sort (cj (cl) Water Rights. Purchase price to include the iollowingwaler rights: N/A (e) Growing Crops. With respect to the growing crops Seller and Purchaser agree as follows: N/A ~ . ~'he above-described included items (lnciusions) are to be conveyed Io Purchaser by Seller by bill of sale, deed or other applicable legal instrument(s) at the closing, Icee and clear of ail taxes, liens and encumbrances, except as ' provided in section 10. 7'Ite following attached fixtures are excluclecl from tl?is salt: None 3. PURCIIASI? PRICE AND TERMS. The purchase price shall be S 109.000.00 , payable in U.S. dollars by Purchaser as follows (complete the applicable terms below): (a) EARN[S'T MONEY. S 10.000.00 in the form of Town of Vail check as earnest money deposit and part payment of the purchase price, payable to and held by V2i1 Associates Real Efate , broker, in broker's trust account on behalf of both Seller and Purchaser. Broker is authorized to deliver the earnest money deposit to the closing agent, if any, at or before closing. ~ (b) CASH AT CLOSING. S , 11 .800.00 to be paid by Purchaser at closing in cash, electronic transfer roods, certified check, saving sort Itrtn teller's check, or cashier's check. Subject to Ilrc provisions of section 4, i[ the txisting loan balance at the tune of chasing shall be different from the loan balance in section 3, the adjustment shall be made in cash al closing or paid as follows: (c) NEW LOAN. S N /A by Purchaser obtaining a new loan. 'This luau will be secured by a (1st, 2nd, etc.) deed of trust. 1'hc new loan to Purchaser shall be amortized over a period of years at approximately S per including principal and interest not to exceed % per annum, plus, if rcquirecl by I'urchascr's lender, a deposit of of the estimated annual teal estate taxes, property insurance premium, and mortgage insurance premium. If the loan is an adjustable interest rate or graduated payment loan, the payments and interest rate iniliaily shall not exceed the figures set forllt above. No. C[tS3 5189 VACANT LANDf FARM AND RANCH CONTRACT TO BUY .4 SELL RFAL ESTATE t'age t of 6 McAllister ublishing, 502 Main St,, Carbondale, CO 81623 (303)9b3.1027 r~ . ~ Loan discount points, if any, shall be paid to lender at closing and shall not exceed % of the total loan amount. The first (1, 2, etc.) loan discount points shall be paid by , and~I the balance, if any, sl?all be paid by Purchaser shall timely pay a loan origination fee not to exceed % o[ the loan amount and Purchaser's loan costs. Cost of any appraisal (or loan purposes to be obtained after this date shall be paid by ~ upon loan application as required by lender. (d) ASSUMPTION. S N /A by Purchaser's assuming and agreeing to pay an existing loan in this approximate amount, presently payable at S per including principal, interest presently at % per annum, and including escrow for the following as indicated: ? real estate taxes, ? property insurance premium, ? mortgage insurance premium, and Purchaser agrees to pay a loan transfer fee not to exceed S At the time of assumption, the new interest rate shall not exceed ~ % pear annum and tl?e new payment sl?all not exceed S plus escrow, if any. l Seller ? shall ? shall not be released from liability on said loan. If applicable, compliance with. the requirements for release from liability shall be evidenced by delivery at closing of appropriate letter from lender. Cost payable for release of liability shall be paid by in an amount not to exceed ~ (e) SGLLCR OR PRiVA'fG'fI11RD-PARTY FINANCING. S 87 .200.00 by Purchaser executinga promissory note payable to: Robe*-l• W _ and Fern F. t;1 Abp ~ on the note form as indicated: (check one box) ®(X Right-to-Cure NTD 82-11-83 ? No Right-to-Cure N'TU 81-11-83 _ secured by a (lst,2nd,etc.) deed of trust encumbering the Property, using the form as indicated: (check one box) $~X Strict Due-on-Sale (TD 72-11-83) ? Creditworthy (TD 73-11-83) ? Assumable -Not due on Sale (TD 74-11-83) ? 7'hc promissory note shall be amortized on the basis of 3 years, payable at S see Addendum A per including principal and interest at the rate of 8 % per annum. Payments sl?all commence July 5 . 1991 and shall be due on tl?e 5th clay of each succeeding July . If not sooner paid, the balance of principal and accrued interest sl?all be clue and payable Jul_v 5 . 1993 after closing. Payments ? shall ®Xshall not be increased by of estimated annual real estate taxes, and ? shall (R~C shaft not be increased by of cstimatcct annual property insurance premium. 7'he loan shall also contain the following terms as indicated: If any payment is not received within ) 5 calendar days after its due date, a late charge of 18 % of such payment shall be duel Interest on lender disbursements under tl?e decd of trust shall be 18 % per annum. Default interest rate shall be 18 % per annum. Purchaser may prepay without a penalty except None a) Loan Application(s). If Purchaser is to pay all or part of the purchase price as set forth in section 3 by obtaining w loan or ? existing loan is not to be released at closing, Purchaser, if required by such ler?der, shall ntakeiwritten ication within lenctar days from acceptance o[ this contract. Purchaser shall cooperate wish Seller and lend o obtain loan approval, diligently timely pursue same in good faith, execute all documents and furnish ail infor ~ ton and documents required by the lender, an object to section 3, timely pay the costs of obtaining such loan or lencle nserit. (t?) Loan Approval. If P aser is to pay all or part of the purchase price by obtainin ew loan as specified in section 1, ibis amtract is ex?ndiliunal upon Icr's approval of the new loan on or before ~ 19 If nut so approved by said date, this contra hall terminate. 1t the loan is so appr d, but such proceeds are not available to Purchaser as required in section S (Good Funcls the time of closing, closin all be extended one time for calendar clays (not to exceed (5) five). If sufficient funds are n en available, t 'contract shall terminate. (c) Existing-Loan Review. if an existing loan is no be eased at closing, Seller shall provide ex?pies of tl?c loan documents (including nose, deed of frost, modifications) to r ser within calendar days from acceptance of this contract. This contract is conditional upon Purchaser's ?ew and app I of the provisions of such loan documents. 1'urchascr consents to the provisions of such loan docu if no written objectio 's received by Seller or Listing Company from Purchaser within calendar days f Purchaser's receipt of such docum . If ll?e lender's approval of a transfer of tl?e Properly is requirccl, this contrac 'conditional upon Purchaser's obtaining such a oval without change in the terms of such loan, except as set forth ' ection 3. if lender's approval is not obtained on or befo i , 19 ,this oontrac all be terminated on such dale. If Seller is to be released from liab? under such existing loan anti Purchaser does obtain such compliance as set forth in section 3, this contract may be terming at Seller's option. (d) Ass lion Balance. if Purchaser is to pay all or part of the purchase price by assuming an existin an and if the actual tips! balance o[ the existing loan at the date of closing is less than the amount in section 3 by re than S ,then Purchaser may terminate this contract effective upon receipt by Seller i r Listing Co a •I=ureheset'e~wtit~ : liesek.: 'nnliert. No. CBS3 51149 VACANT [ANDJFARM AND RANCI I CONTRACT TO DUY & SELL RPAL [iSTAT[i Pege 2 0( 6 McAllicler ublithing, 502 Main ~t., Carbondale, CO 81623 (300963.1027 M 1 is g can ' ~ losin this contract is contlilional u n Seller's approve c raser's Soincml abilil ,r x'ctin ! . ' rs not to be released at shat be at Seller's sole and absolute clPs u J ' t' y an I cr hincss, which approval I crct' rc r case: (1)1'urchaser shall supply to Scllcr on or be o 19 aser's expense, information anet clocumenls concerning Purchaser's financial, emp ~ and credi di on; (2) Purchaser consents That Seller may verify Purchaser's financial ability and creditworthiness; 3 t t 'on and documents received by Scllcr shall be held by Seller in confidence, and not release ers except to protect Seller's tt ' t this transaction; (4) if Seller clots not provide written notice o c rsappruval to Purchaser on or before 19 ,then Seller waives thi on. If Seller does provide written notice o[ disapproval to Purchaser on or before said a , ntract shall 5. GOOD FUNDS. All payments required at closing shall be made in funds which comply with alt applicable Colorado {aws. 6. NOT ASSIGNABLE. Phis contract shall not be assignable by Purchaser without Seller's prior written consent. Except as so restricteei, this contract shall inure to the benefit of and be binding upon the heirs, personal representatives, successors and assigns of the parties. ' 7. EVIDENCE OF TITLE. Seller sfiall furnish to Purchaser, at Seller's expense, either a current commitment for owricr's title insurance policy in an amount equal to the purchase pcice or at Seller's choice, an abstract of title certified to a current date, ors or before June 20 ,19 90 iF a title insurance commitment is (urnishecl, Purchaser may rccluire u[ Seller that copies of instruments (or abstracts of instruments) listed in the schcclule of exceptions (l?xceptions) in llre title insurance commitment also be furnished to Purchaser at Seller's expense. This reyuiremenl shall pertain only to instruments shown of record in the ootce of the clerk and recorder of the designated county ur counties. 't'he title insurance commiUnwrl, together with any rnpics or abstracts of instrurncnls furnished pursuant to this section 7, constitute the tiUc documents ('t'itle Uucuments). Purchaser must request Seller to furnish copies or abstracts of instruments lisieci in the schedule of exceptions no later than _1Q_ calendar clays after !'urchaser's receipt of the title insurance wmmitment. [(Seller furnishes a title insurance rnmntitment, Seller will have the title insurance policy clclivered to Purchaser as soon as practicable after c{using anel pay the premium at closing. 8.7'17'LE. (a) Titre Review. Purchaser shall have the right to inspect the Title Documents or abstract. Written notice by Purchaser of unmerchantability of title or of any other unsatisfactory title condition shown by the Title Documents or abstract shall be signed by or on behalf of Purchaser anti given to Seller or Listing Company on or before 10 calendar clays after Purchaser's receipt of Title Documents or abstract, or within Gve (5) calendar days after receipt by Purchaser of any 7'itlc Document(s) or endorsement(s) adeling new lixeeption(s) to the title commitment together with a copy of the'1'ille Document settling new Lixcepliun(s) to title. if Scllcr or Listing Company sloes not receive Purchaser's notice by the date(s) specificet above, Purchaser shall be deemed to have aceeptecf the correlition of title as disclosed by the Title Documents as satisfactory. (b) ~fatlers Not Shown by the Public Kecords, Seller shall deliver to Purchaser, on or before the elate set forth in section 7, true ccipies of all {case(s) anti survey(s) in Seller's possession pertaining to the Property and shall disclose to Purchaser rdl cascmcnts, liens ar other title matters nut shown by the public records of which Scllcr has actual knowledge. I'urchascr shall have the right to inspect the Properly to determine if any third party(s) has any right in the Property not shown by the public records (such as an unrecorded easement, unrecorded (case, or boundary line discrepancy). Written notice of any unsatisfactory conclilion(s) disclosccl by Scllcr or rcvealccl by such inspection shall be signal by or on behalf of Purchaser anti given to Seller or Listing Company on or before June 30 ,19 90 If Seller or Listing Company clues nut receive I'urefiaser's notice by said date, Purchaser shall be deemed to have accepted lisle subject to such rights, if any, of third parties of which I'urctrascr has actual knowledge. (c) Riglrt to Cure. If Scllcr or Listing Company receives notice o[ unmerchantability of title or any other unsatisfactory title condition(s) as provided in subsection (a) or (b) above, Seller shall use reasonab{e effort to correct said unsatisfactory title condilions(s) prior to the date of closing. If Scllcr fails to correct said unsatisfactory title conctiliun(s) on or before the date of closing, this contract shall then terminate, subject to section 17; provided, however, Purchaser may, by written notice received by Seller or Listing Company on or before closing, waive objection to said unsatisfactory title condition(s). 9. DATE OF CLOSING. 1'he date of closing shall be July 5 19 90 or by mutual agreement at an earlier date. The hour anct place o[closing shall be as designated by Purchaser and Seller 10.7'RANSFER OF 7'I7'LE. Subject to tender or payment on closing as requited herein and wmpliance by Purchaser with the other terms and provisions hereof, Seller shall execute and deliver a good anti sufficient General Warranty ciceci to Purchaser, on closing, conveying the Property free and clear of all taxes except the general taxes for the year o[ closing, and except None free and clear o[ all liens for special improvements installeei as o[ the date of Purchaser's signature hereon, whcll?er assessed or not; except clistrit?uliun utility cascmcnts, including cable '1'V; excxpt those rnaiters rc(leclect Iry the 't'itle Documents accepted by Purchaser in accordance with subsection 8(a); except those rights, i[ any, of third parties in the Properly nut shown by the public reoorcis in accordance with subsection li(b); and subject to building and zoning regulations. 11.1'AYiv1EK1' OF ENCUMBRANCES. Any encumbrance required to be paid shall be paid at or before the time of settlement from the proceeds of this transaction or from any other source. 12. CLOSING COSTS, DOCUME[~ffS AND SERVICES. Purchaser and Seller shall pay their respective closing costs at closing except as otherwise provided herein. Purchaser and Scllcr shall sign anti complete all customary or required documents at or before closing. Fees for real estate closing and settlement services shall not exceed ~ 200.00 and shall be paid at closing by Prrrr~gr a[Id Seller , 13. PROBATIONS. General taxes for the year of closing, based on the most recent Icvy and the must cecenl assessment, rents, water and sewer charges, owner's association dues, and interest on continuing loan(s), if any, and West Vail Rnart Tmnrovea~enra shall be prorated to date of closing. Any sales, use and transfer tax that may accrue because o[ this transaction shall be paid by Purchaser . No. CDSi 5189 VACAKt LAND/FARM AND RANCI I CONTRACT TO DUY do SELL Ri3AL ~S'I'AT6 Pegc 3 0l 4 cAllicrer ublithing, 502 Main Csrbondale, CO 81623 (303)963.1027 s tit 14. POSSESSION. Possession of the Properly shall be delivered to Purchaser as follows: On the date of closing I :object to the following leases} or tenancy(s): None If Seller, after dosing, [ails to dealer possession on the date herein specified, Seller shall be subject to eviction and shall be additionally liable to Purchaser for payment o[ S 200 , 00 per day from the date o[ agreed possession until possession is delivered. IS. CONDITION OF AND DAMAGE 7'O PROPERTY. 'Tfic Property and Inclusions shall be conveyed in their present condition, ordinary wear and tear ezceptecl. In the event the Properly shall be damaged by fire or other casualty prior ?o time of closing, in an amount of not more than ten percent of the total purchase price, Seller shall be obligated to repair the same before the date o[ closing. In the event such damage is not repaired within said time or if the damages exceed such sum, this contract may be terminated at the option of Purchaser. Should Purchaser elect to carry out this contract despite such damage, Purchaser shall be entitled to credit for all the insurance proceeds resulting from such damagi to the Property sort Inclusions, not exceeding, however, the total purchase price. Should any inclusion(s) or service(s) fail or be ciamagecl bchvicen the date of this contract and the elate o[ closing or the date of possession, whichever shall be earlier, then Seller shall be li:il~lc for the repair or replacement of such Inclusions} or service(s) with a unit of similar size, age and quaility, or an equivalent creelit, Icss any insurance proceeds received by Purchaser covering such repair or replacement. 7'hc risk a[ loss for any damage to growing crops, by fire or other casualty, shall be borne by the party entillecl to the growing crops, if any, i s provided in section 2 and such party shat) be entillecl to such insurance proceeds or benefits for the growing crops, i[ any. 1G. TIME OF ESSENCE/REMLDIr.S. 'l'ime is of the essence hereof. 1[ any note or check received as earnest money hereunder or any other payment due hereunder is not paid, honored or tendered when due,or if any other obligation hercuncicr is not performed or waived as herein provided, there shall be the following remedies: (a) IF PURCHASER IS IN DEFAULT: 1F T[lE BOX IN SUBSECTION (1) IS CHECKED, SELLER'S REMEDIES SIIALL BE AS SET FORT[1 IN SUBSECTION (1) (SPECIFIC PERFORMANCE]. IF SAID BOX IS NOT CHECKE=D, SELLER'S RL7MEDIL~S S[IALL 13E AS SET I~OItTII IN SUBSECTION (2) [LIQUfUA1'ED UAMAGLS). ? {1) Specific Performance. Seller may elect to treat this contract as cancelled, in which case all payments and things o[ value received hereunder shat( be torteilecl and retained on behalf of Seller, and Seller may recover such damages as may be proper, or Seller may elect to treat this contract as being in tut( force and effect and Seller shall have the right to specific performance or damages, or bosh. (2) Liquidated Damages. All payments and things of value received hereunder shall be forfeited by Purchaser and rclaineci on behalf of Seller and both parries shall thereafter be released from all obligations hereun~cier. It is agreed that such payments and things of value are 1,IQUlDATEU DAMAGES and (except as provided in subsection (c)) arc SELLER'S SOLE ANU ONLY RI3htEUY for Purchaser's failure to perform the obligations of this contract. Seller expressly waives the remedies o[ specific performance and additional damages. (b) 1F SELLER 1S IN DEFAULT: Purchaser may elect to treat this contract as cancelled, in which case all payments and things of value received hereunder shall be returned and Purchaser may recover such damages as may be proper, or Purchaser may elect to treat this contract as being in full force and effect and Purchaser shalt have the right to specific performance or damages, or both. I • , (c) COSTS AND EXPENSES. Anything to the contrary herein notwithstanding, in the event of any litigation or arbitration arising out of this contract, the court shall award to the prevailing party all reasonable casts and expense, including attorney fees. 17. EARNEST MONEY DISPUTE. Notwithstanding any termination o[ this eoatract; Purchaser and Se{lot agree that, in the event of any controversy regarding the earnest money and things of value held by broker or closing agent, unless mutual written instructions are received by the holder o[ the earnest money and things of value, broker or closing agent shall nut be required to take any action but may await any praceccling, or at 1/roker's or closing agent's option sort sole efiscretion, ntay interplcad all parties and deposit any moneys or things of value into a court of competent jurisdiction andlshall recover court costs sort reasonable attorney fees. ~ 18. INSPECTION. Purchaser or any designee shall have the right to have inspection(s) o[ the physical condition of the Property and Inclusions, at Purchaser's expense. If written notice of any unsatisfactory condition, sigiteel by Purcfiascr~ is not received by Seller or Listing Company on or before June 30 ~ 19 90 ,the physical canclitionot the Property and Inclusions shall be deemed to be satisfactory to Purchaser. If written notice of any unsatisfactory condition, signed by Purchaser, is given to Seller or Listing Company as set forth above in this section, and if Purchaser and Seller have not reached a written agreement in settlement thereof on or before July 5 ,19 90 ,this contract shall then terminate, subject to section 17. Purchaser is responsible and shall pay for any damage which occurs to the Property and Inclusions as a result of such inspection. No. CDS3 5199 VACANT [,AND1RARM AND RANCH CONTRACT TO t3UY ~ SHLL. ROAL t35TAT8 Page 4 of 6 McAllider ubliching, 502 Maln s1., Carbondale, CO 61623 (303)963-1(127 19. AGENCY DISCLOSURE. 'i'hclistingbroker, Vail Associates Real Estate, Inc. , and its salts agents (Listing Company) represent SeNcr. The Listing Company owes duties of trust, loyalty and confidence to Seller only. While the Listing Company has a duly to treat Purchaser honestly, the Listing Company is the Seller's agent and is acting on behalf of Seller and not Purchaser. BY SIGNING BELOW, PURCHASER ACKNOWLEDGES PRIOR TIMELY NOTICE: BY LISTING OR SELLING COMPANY THAT LISTING COMPANY IS SELLER'S AGENT. Theseltingbroker, Vail Associates Real Estate ,and its sales agents (Selling Company) represent: (1[' TILE BOX IN SUBSECTION (b) IS CiIECKED, SELLING COMPANY REPRESENTS PURCHASER ONLY, AS SCI: I'OR'I'll IN SUBSECTION (b). IF T11E BOX IN SUBSECTION (h) IS NO'T CIII?CKIsD, SL'LLINC; COhll'ANY REI'RGSENI'S SELLER ONLY, AS 5CI' POR1'll 1N SUBSECTION (a).J (a) Seller. The Selling Company owes duties of trust, loyalty and confidence to Seiler only. While rho Selling Company has a duty to treat Purchaser honestly, the Selling Company is Seller's agent and is acting on behalf of Seller and not Purchaser. BY SIGNING BELOW, PURCHASER ACKNOWLEDGES PRIOR 1'[htI?LY NO'T'ICE BY SELLING COMPANY THAT SELLING COMPANY IS SELLER'S AGENT. ? (b) Purchaser. If the box is checked: 1'he Selling Company owes duties of trust, loyalty and confidence to Purchaser only. While the Selling Company has a duty to treat Seller honestly, the Selling Company is acting on behalf of Purchaser and not Seller. SELLER AND LISTING COMPANY ACKNOWLEDGE PRIOR TIMELY N07'ICE BY SELLING COMPANY THAT IT IS PURCHASER'S AGENT. 20. ADDITIONAL PROVISIONS: See Addendum A attached and incorporated in this Agreement by reference. i I . j . • , . j i t ~ ~ 21. RECOMMENDATION OP LEGAL COUNSEL. By signing this document, Purchaser and Seller acknowledge that the Selling Company or the Listing Company has recommended that Purchaser and Seller obtain the advice of their own legal counsel regarding examination of title and this contract. 22. TERMINATION. In the event this contract is terminated, all payments and things o[value received hereunder shall be returned and the parties shall be relieved of all obligations hereunder, subject to section 17. No. CBS3 5189 VACANT IANUf FARM AND RANCtI CONTItACI' TO BUY lQ SELL RFAL B5I'ATB Pe6e S of 6 Mu~lliner ublahing, 502 Mnin Carbondale, C0 81623 (303)963•t027 23. NOTICE OFACCEPTANCE/COUNTERPARTS. ]f this proposal is accepted by Seller in writing Ind Purchaser receives notice of such acceptance on or before ,19 ,this document shall become a contract between Seller sort Purchaser. A wpy of this document may be executed by each party, separately, and when each party Itias executed a copy thereof, such copies taken together shall be deemed to be a full and complete contract between the parties. i ; BSI , °~~tlo~LG ~ /"f~iLL /~S s!o,~/~~QD Purchaser Town of Vail ~ ` bate Purchaser C Date Purchaser's Address ~ ~ SZ1 . /'~A~7f~GC'~ ~ Purchaser's Address ~ i (TO BE COMPLETED BY SELLER AND LISTING COMPANY] 24. ACCEPTANCE/COMMISSION. Seller accepts the above proposal this day of , 19 Seller shall pay to the Listing Company a commission of % of the gross purchase price ur as agreed upon between Seller and Listing Company for services in this transi action. In the event of forfeiture of payments and things of value received hereunder, such payments and things of value shall be divided behvecn Listing Company and Scllcr, one-half thereof to Listing Company, but not to exceed the commission, and the balance to Scllcr. Seller Robert W. Glake Date Seller Fern F. Glake Date Seller's Address Seller's Address ~ The undersi ned Sellin Com an acknowled s recei t of the earnest none deposit specified in secti I n 3 and both Selling g g P Y ge P Y Company and Listing Company confirm the respective agency disclosure set forth in section 19. Selling Company Address • ~ ~ gy Date Listing Company Address ~ sy ; Date (•lo. C8S3 Sjas VACANT [AND\FARM AND RANCII CONTRACT TO BUY do SELL REAL BSTATB Page 6 of 6 eAlliaer rublirhing, 501 Main S1t., Carbondale, CO 81623 (303)963.1027 1 ADDENDUM A 1. This contract is conditioned upon its approval by the Town Council of the Town of Vail, Colorado. 2. The title insurance policy to be delivered to Purchaser by Seller in accordance with paragraph 7 of this Agreement shall have standard exceptions 1 - 4 deleted. 3. The promissory note referred to in paragraph 3 of the contract shall provide for partial releases to be conveyed to the Purchaser upon each installment payment made to Seller as set Earth in said paragraph. Further, the promissory note shall be non-recourse against the Purchaser. The promissory note and deed of trust shall be prepared by Purchaser's attorney and shall be submitted to Seller for review a reasonable time before the date of closing. This contract is conditioned upon the promissory note and deed of trust being acceptable in their terms and form to Seller and Purchaser. 4. Purchaser hereby represents and warrants to Seller that there are no hazardous substances on the property including, but not limited to, asbestos, or PCB in its various forms. 5. The payment schedule for the promissory note set forth in paragraph 3 shall be as follows: a} July 5, 1991 $29,066.67 Principal 6,976,00 Interest TOTAL 36,042.67 Balance Remaining $58,133.33 b) July 5, 1992 $29,066.67 Principal 4,650.67 Interest TOTAL 29,066.66 Balance Remaining $29,066.66 c) July 5, 1993 $29,066.66 Principal 2,325.33 Interest •TOTAL 31,391.99 Balance Remaining $ -0- • I i i i • ~ ~ ~.y _ n~ prt.na porttoRS a teic twa , . t ey dK caa.eo tt~.t ttu,u coswwsioa 1!YTD a-u-arr IF THIS FORM IS USED IN A CONSL'bIER CREDIT TRANSACTION, CONSULT LEGAL COUNSEL. THIS IS A LEGAL INSTRUMENT. IF NOT UNDERSTOOD, LEGAL, TAX OR OTHER COUNSEL SHOL'Ln BE CONSULTED BEFORE SIGNING. PROMISSORY NOTE (Right to Cure) U.S. s 87.200 Vail ,Colorado ,19 I. WR VALUE RECEIVED, the undersigned (Borrower) promise(s) to pay Robert W. Glake and Fern F. Glake or order, (Note Holdcr) the principal sum of Eighty-seven thousand two hundred U.S. Dollars, with interest on the unpaid principal balance from July 5 , 19 90 ,until paid, at the rate of 8 percent per annum. Principal and interest shall be payable at , or such other place as the Note Holder may designate, in C~1LeP payments of r,g.._payment sel±ed rl a tarh~~ as Exhibit A Dollars (l;.S. S due on the 5 ~h day of each .Trr 1 v . beginning _ltt 1 v 5 , 19 ~Q .Such payments shall continue until the entire indebtedness evidenced by this Note is fully paid; provided, however, if not sooner paid, the entire principal amount outstanding and accrued interest thereon, shall be due and payable on .~1 v 5 . 19 . The covenants of Borrower expressed in this note to pay the aforesaid principal sum and the interest that shall accrue thereon, and other payments required hereunder, whether or not at the option of the Note Holder, are included in this note for the sole purpose of evidencing the continuing existence of the indebtedness only and are subject to annual appropriations by Borrower. In the event of any default or non- payment of any sum due hereunder, Note Holder agrees that it will not look to the personal or individual liability of the Borrower (or any assignee of the Borrower) or endorser hereof and that the sole remedy of the Note Holder shall be foreclosure of the deed of trust which secures note and Note Holder shall not be entitled to a deficiency judgment hereunder, it being understood that the liability of the Borrowe is limited to the real property only. 2. Borrower shall pay to the Note Holder a late charge of 1 R ~ of any payment not received by the Note Holder within 15 days after the payment is due. 3. Payments received for application to this Note shall be applied first to the payment of late charges, if any, second to the payment of accrued interest specified above, and the balance applied in reduction of the principal amount hereof. 4. If any payment required by this Note is not paid when due. the entire principal amount outstanding and accrued interest thereon shall becortte due and payable at the option of the Note Holder (Acceleration) twenty days after notice of Acceleration has bccn given. This tune period shall run concurtently with the right to cure , if any, allowed by the Uniform Consumer Credit Code. Such notice of Acceleration shall specify the amount of the nonpayment plus any unpaid late charges and other costs, expenses and fees due under this Note. Until the expiration of srid twenty-day period, the Borrower may cure all defaults consisting of a failure to make required payments by tendering the amounts of all unpaid wms due at the time of tender, without Acceleration, as specified by the Note Holder in such notice. Cure restores the Burrower to his rights under this Note as though defaults had not oecumed. Any defaults under this Note occurring within twelve months after the Note Holder has once given a notice of Acceleration, entitles B , to no right to cure, except as otherwise provided by law. The Note Holder shall be entitled to collect all reasonable costs and expense of collection and/or suit, including, but not limited to reasonable attorneys' fees. S. Borrower may prepay the principal amount outstanding under this Nute,in whole or in part, at any time without penalty. Any partial prepayment shall be applied against thr principal amount outstanding and shall not postpone the due date of any wbsequent payrents or change the amount of such payments. No. NTD 82-11-83. COMPUTER. PROMISSORY NOTE-rNE c. r. NoecKe~ co., DENVER asauzs I u 6. Borrower and all other makers, sureties, guarantors. and endorsee hereby waive presentment, notice of dishonor and protest, and they hereby agree to any extensions of time of payment and partial pa}•ments before, at, or after maturity. This Note shall be the pint and several obligation of Borrower and all other makcrs, sureties, guarantors and endoetrs, and their successors and assigns. 7. Any notice to Borrower provided for in this Nute shall be in writing and shall be given and be effective upon (1) delivery to Bornrver or (?)mailing such notice by first-class U.S. mail, addressed to Borrower at the Borrower ~ address stated below, or to such other address as Borrower may designatc by notice to the Note Holder. Any notice to the Note Holder shall be in writing and shall be given and be effective upon (I) delivery to Note Hulder or (2) by mailing such notice by fieftlass U.S. mail, to the Note Holder at the address stated in the first paragraph of this Note, or to such other address as Note Holder may designate by notice to Borrower. 8. The indebtedness evidenced by this Note is secured by a Deed of Trust dated Jll~ 5 , 19 90 ,and until released said Deed of Trust contains additional rights of the Note Holder. Such rights may cause Acceleration of the indebtedness evidenced by this Note. Reference is made to said Deed of Trust for such additional terms. Said Deed of Trust grants rights in the property identified as follows: Lots 2 and 4, Block H, Vail das Schone Filing 2 Property address: 2487 and 2477 Garnish Drive , Vail ,Colorado (CAPTION: SIGN ORIGINAL NOTE ONLYiRETAIN COPY) IF BORROWER IS NATURAL PERSON(S1: doin business as 8 IF BORROWER IS CORPORATION: ATTEST: Nnmt ut Curpixxtiim by Seca~H, Prc.idcnt (SEAL) IF BORROWER iS PARTNERSHIP: Namc nl Putner.hip by Gcncrrl Pr11R7 Borrower's address: KEEP THIS NOTE IN A SAFE PLACE. THE ORIGINAL OF THIS NOTE MUST BE EXHIBITED TO THE PUBLIC TRUSTEE !N ORDER TO RELEASE A DEED OF TRUST SECURING THIS NOTE. 1 TAe primed pirlionx or,his form appru~ed M' ~ the Colorado Rral Es,a,e Cummitision ITU 72•II•M11 IF TIItti FORDt Iti USED IN A CUNSUAtER CRF.UIT TRANSACTION, CONSULT LEGAL COUNSb;L. THIS IS A LEGAL INSTRUMENT. IF NOT UNDERSTOOD, LEGAL, TAX OR OTHER COUNSEL SHOULD BE CONSULTED BEFORE SIGNING. DEED OF TRUST (Due on Transfer -Strict) THIS DEED OF TRUST is made this day of , 19 ,between the Town of Vail (Borrower), whose address is 75 South Frontaee Road. Vail. Colorado 81657 , and the Public Trustee ol'the County in which the Property (see paragraph I) is situated (Trustee); fur the benefit of Robert W. Slake and Fern F. Slake (Lender), whose address is Burrower and Lender covenant and agree as li>Ilows: I. Property in Trust. Borrower, in consideration of the indebtedness herein recited and the trust herein created, hereby grants and conveys to Trustee in trust, with power of salt, the following described property located in the County ul' F.ac, 1 a ,State of Colorado: Lots 2 and 4, Block H, Vail das Schone Filing 2 which has the address of 2487 and 2477 Garmish Drive , 1s,rem Vail ,Colorado 81657 n~m.i IZip enact (Property Address), together with all its appurtenances (Property). 2. Note; Other Obligations Secured. This Deed of Trust is given to secure to Lender: A. the repayment of the indebtedness evidenced by Borrower's note (Note) dated Julv 5 I9 90 , in the principal sum of ei~ty-Seven tk)ousand two hundred and no1100 ($87.200.00) U.S. Dollars, with interest on the unpaid principal balance from July 5 , {y 90 ,until paid, at the rate of 8 percent per annum; with principal and interest payable at or such other place as the Lender may designate, in three payments of See payment schedule attached as Exhibit A Dollars (U.S. $ )due un the 5th day of each July beginning .T„ 1 v 5 , ly 90 ;such payments to continue until the entire indebtedness evidenced by said Note is fully paid; however, if nut sooner paid, the entire principal amount outstanding and accrued interest thereon, shall be due and payable on .T„ 1 lr 5 , 19 ; For additional provisions, see Exhibit B attached and incorporated herein by reference and Borrower is to pay to Lender a late charge of 18 ~Ic of any payment not received by the Lender within ~ 5 days after payment is due; and Borrower has the right to prepay the principal amount'outstanding under said Note, in whole or in part, at any tine without penalty except None B. the payment of all other sums, with interest thereon at NSA % per annum, disbursed by Lender in accordance with this Deed of Trust to protect the security of this Deed of Trust; and C. the performance of the covenants and agreements of Borrower herein contained. 3. Title. Burrower covenants that Burrower owns and has the right to grant and convey the Property, and warrants title to the same, subject to general real estate taxes for the current year, easements of record or in existence, and recorded declarations, restrictions, reservations and covenants, if any, as of this date and except NOne a. Payment of Principal and Interest. Borrower shall promptly pay when due the principal of and interest on the indebtedness evidenced by the Nute, and late charges as provided in the Note and shall perform all of Borrower's othercuvenants contained in the Note. 5. Application of Payments. All payments received by Lender under the terms hereof shall be applied by Lender first in payment of amounts due pursuant to paragraph 23 (Escrow Funds for Taxes and Insurance), then to amounts disbursed by Lender pursuant to paragraph 9 (Protection of Lender's Security), and the balance in accordance with the terms and conditions of the Note. No. TD 72-11-83. COMPUTER. DEED OF TRUST (DUE oN TRANSFER-STRICT) -THE C. R. MOEC,cEL c.0.. DELAYER ~J 6. Prior Mortgages and Deeds of Trust: Charges; Liens. Burnrwcr shall pcrfimu all of Borrower's obligations under any prior decd of trust and any other prior liens. Borrc»ver shall pay all tics, asscssnrcros and other charges, tines and impositions attributable to the f'rupcrty which may have or attain a priority over this Dccd of Trust, and leasehold payments or ground rents, if any, in the manner set out in paragraph ?i (Escnrw Funds for Taxes and Insurance) ur, il' nut required Iu be paid in such manner, by Burr'uwer making payment when due, dircttly to the payee thcrcof. Despite the firrcgoing, Burn+wcr shall not be reyuirrd h+ make payments iutherwisc reyuircd by this paragraph if Borrower, after notice to Lender, shall in good f:+ith contest such obligation hy. ur defend enlirrcement of such obligation in. Icgal proceedings which operate to prevent the entirrrement of the obligation or lirrfciture of the Property or~any part thereof, only upon Borrower making all such tontcstcd payments and other payments as ordered by the court to the registry ul'the court in which such pnneedings arc filed. 7. Property Insurance. Burrower shall keep the improvements now existing or hcreaNer erected un the Property insured against loss h}' fire ur hazards inrludcd within the term "extended coverage" in an amount at Icast equal to the lesser of (I )Ithe insurable value of the Property or (2) an amount sufficient w pay the sums secured by this Decd of Trust as well as any prior encumbrances on the Property. All of the tixegoing shall he known as "Property Insurance". The insurance carrier providing the insurance shall be qualified to write Property Insurance in Colorado al d shall he chosen by Borrower suhjcct to Lender's right to reject the chosen carrier for reasonable cause. All insurance policies and renewals thereof shall intludc a st:uulard murlgagr clause in favurol L.tndtr, and shall provide that the insurance carrier shall notify Lcndcr a1 Icast ten (10) days before r.+ntellation. tcnnination or any material change of coverage. Insurance policies shall he furnished to Lcndcr at or before closing. Lcndcr shall have the right to hold the politics and renewals thcrcof. In the error of loss, Burruwcr shall give prompt notice to the insurance carrier end Lender. Lender may make proof of loss if not made promptly by Burruw•er. Insurance proceeds shall be applied to restoration or repair of the Property damaged, provided such restoration or repair is economically feasible and the security of this Ueed of Trust is not thereby impaired. If such restoration or repair is not economically feasible or if the security of this Deed of Trust would be impaired, the insurance proceeds shall be applied to thelsums secured by this Decd of Trust, with the excess, if any. paid to Burrower. If the Property is abandoned by Borrower, or if Burruwcr fails to respond to Lcndcr within 3Q days from the date notice is given in accordance w+th paragraph 16 (Notice) by Lender to Borrower that the insurance carrier otters to settle a Claim for insurance benrlits, Lcndcr is authorized to collect and apply the insurance procced~s, at Lender's option, either to rrsturatiun ur repair of the I'ropcrty ur to the sums secured by this Dced uf'frust. Any such application of proceeds to principal shall nut extend ur postpone the due date of the installments referred to in paragraphs 4 (Payment of Principal and Interest) and 23 (Escrow Funds for Taxes and Insurance) or change the amount of such installments. Notwithstanding anything herein to the contrary, if under paragraph I8 (Acceleration; Foreclosure: Other Remedies) the Property is acquired by Lender, all right, title and interest of Burcuwer err and to any insurance policies and in and to the proceeds thereof resulting from damage to the Property prior to the sale or acquisition shall pass to Lender to the extent of the sums secured by this Deed of Trust immediately prior to such sale or acquisition. All of the rights of Borrower and Lender hereunder with respect to insurance carriers, insurance policies and insurance proceeds are subject to the rights of any holder of a prior deed of trust with respect to said insurance carriers, policies and proceeds. 8. Preservation and Maintenance of Property. Borrower shall keep the Property in good repair and shall not commit waste or permit impairnrent or deterioration of the Property and shall comply with the provisions of any lease if this Deed of Trust is on a leasehold. Borrower shall perform all of Borrower's obligations under any declarations, covenants, by-laws, tvles~ or other documents governing the use, ownership or occupancy of the Property. 9. Protection of Lender's Security. Except when Borrower has exercised Borrower's rights under paragraph 6 above, if the Borrower fails to perform the covenants and agreements contained in this Dced of Trust, or if a default occurs m a prior lien, or if any action or proceeding is commenced which materially affects Lender's interest in the Property, then Lender, at l.~ender's option, with notice to Borrower if required by I:+w, may make such appearances, disburse such sums and take such action as islnecessary to protect Lender's interest, including, but nut limited tu, disbursement of reasonable attorney's fees and entry upon the Property to make repairs. Borrower hereby assigns to Lender any right Burrower may have by reason of any prior encumbrance on the Property or by law or otherwise to cure any default under said prior encumbrance. Any amounts disbursed by Lender pursuant to this paragraph 9, with interest thereon, shall become additional indebtedness of Borrower secured by this Deed of Trust. Such amounts shall be payable upon notice from Lender to Borrower reyuest;ing payment thereof, and Lender may bring suit to collect any amounts so disbursed plus interest specified in paragraph 2B (Note; Other Obligations Secured). Nothing contained in this paragraph 9 shall require Lender to incur any expense or take any action hereunder. 10. Inspection. Lender may make or cause to be made reasonable entries upon and inspection of the Property, provided that Lender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related ro Lender's interest in the Property. II. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with any con- demnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lender as herein provided. However, all of the rights of Borrower and Lender hereunder with respect to such proceeds are subject to the rights of any holder of a prior deed of trust. In the event of a total taking of the Property, the proceeds shall be applied to the sums secured by this Deed of Trust, with the excess, if any, paid to Borrower. In the event of a partial taking of the Property, the proceeds remaining after taking out any part of the award due any prior lien holder (net award) shall be divided between Lender and Borrower, in the same ratio as the amount of the sums secured by this Ueed of Trust immediately prior to the date of taking bears to Borrower's equity in the Property immediately) prior to the date of taking. Borrower's equity in the Property means the fair market value of the Property less the amount of sums secured by both this Deed of Tn+st and all prior liens (except taxes) that are to receive any of the award, all at the value immediately prior to the date of taking. if the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offers to make an award or settle a claim fur damages, Burrower fails to respond to Lender within 3U days after the date such notice is given, Lender is authorized to collect and apply the proceeds, at Lender's option, either to restoration or repair of the Property or to the sums secured by this Deed of Trust. Any such application of proceeds to principal shall not extend or postpone the due date of the installments referred to in paragraphs 4 (Payment of Principal and Interest) and 23 (Escrow Funds for Taxes and Insurance) nor change the amount of such installments. 12. Burrower Not Released. Extension of the time for payment or modification of amortization of the sums secured by this Deed of Trust granted by Lender to any successor in interest of Burrower shall not operate to release, in any manner, the liability of the original Borrower, nor Borrower's successors in interest, from the original terms of this Deed of Trust. Lender shall not be required to commence proceedings against such successor or refuse to extend time fur payment or otherwise modify amortization of the sums secured by this Deed of Trust by reason of any demand made by the original Borrower our Borrower's successors in interest. l3. Forbearance by Lender Not a Waiver. Any forbearance by Lender in exercising any right or remedy hereunder, or otherwise afforded by law, shall not be a waiver or preclude the exercise of any such right or remedy. 14. Remedies Cumulative. Each remedy provided in the Note and this Dced of Trust is distinct from and cumulative to all other rights or remedies under the Note and this Deed of Trust or afforded by law or equity, and may be exercised concurrently, independently or successively. 15. Successors and Assigns Bound; Joint and Several Liability; Captions. The covenants and agreements herein contained shall bind, and the rights hereunder shall inure to, the respective successors and assigns of Lender and Borrower, subject to the provisions of paragraph 24 (Transfer of the Property; Assumption). All covenants and agreements of Borrower shall be joint and several. The captions and headings of the paragraphs in this Deed of Trust are for convenience only and are not to be used to interpret or define the provistons hereof. 16. Notice. Except for any notice required by law to be given in another manner, (a) any notice to Burrower provided for in this Deed of Trust shall be in writing and shall be given and be effective upon (I) delivery to Burrower or (2) mailing such notice by first-class U.S. mail, addressed to Borrower at Borrower's address stated hereto or at such other address as Burrower may designate by notice to Lender as provided herein, and (b) any notice to Lender shall be in writing and shall be given and be effective upon (1)~delivery to Lender or (2) mailing such notice by first-class U.S. mail, to Lender's address stated herein or to such other address as Lender may designate by notice to Borrower as provided herein. Any notice provided for in this Deed of Trust shall be deemed to have been given to Burrower or Lender when given in any manner designated herein. 17. Governing Law; Severability. The Note and this Deed of Trust shall be governed by the law of Colorado. In the event that any provision or clause of this Deed of Trust or the Note conflicts with the law, such conflict shall not affect other provisions of this Deed of Trust or the Nute which can be given effect without the conflicting provision, and to this end the provisions of the Deed of Ttvst and Nute are declared to be severable. 18. Acceleration; Foreclosure; Other Remedies. Except as provided in paragraph 24 (Transfer of the Property; Assumption), upon Borrower's breach of any covenant or agreement of Borrower rn this Dced of Trust, or upon any Default in a prior lien upon the Property, (unless Borrower has exercised Borrower's rights under paragraph 6 above), at Lcndcr s option, all of the sums scoured by this Deed of Trust shall be immediately due and payable (Acccleratiunl. To exercise this option, Lcndcr may invoke the power of saleand any other remedies permitted by law. Lender shall be entitled to collect all reasonable costs and expenses incurred tit pursuing the remedies provided in this Dced of Trust, including, but not limited w, rcasonable auumcy's fees. If Lcndcr invokes the power of sale, Lcndcr shall give written notice to Trustee of such election. Trustee shall give such notice to Burrower of Borrower's rights as is provided by law. Trustee shall record a copy of such notice es required by law. Trustee shall advertise the time and place of the sale of the Property, for not Icss than four weeks in a newspaper of general cinulatiun in earh county in which the Property is situated, and shall mail copies of such notice of sale to &irtowcr and other persons as prescribed by law, After the lapse of such time us may be rcyuircd by law, Trustcc, without demand on Borrower, shall sell the Property at public auction to the highest bidder for cash at the time and place 1 which may be on the Property ur any part thereof as permitted by law) in one or more parcel as Trustcc may think best and in such order as Trustee may determine. Lcndcr or Lender's designee may purchase the Property at any sale. It shall nut be obligatory upon the purchaser at any such sale to sec to the application of the purchase money. Trustee shall apply the pn?cecds of the salt in the following order. (a) to all reasonable costs and expenses of the sale, including, but not limited to, reasonable Trustee's and attorney's fees and costs of title evidence; Ih) to all sums secured by this Decd of Trust; and Ic) the excess, if any, to the person or persons legally entitled thereto. t9. Borrower's Right to Cure Default. Whenever foreclosure is commenced for nonpayment of any sums due hereunder, the owners of the Property or parties liable hereon shall be entitled to cure said defaults by paying all delinquent principal and interest payments due as of the date of cure, costs, expenses, late charges, attorney's fees and other fees all in the manner provided by law. Upon such payment, this Dced of Trust and the obligations secured hereby shall remain in full force and el7ect as though no Acceleration had occurred, and the foreclosure pmcecdings shalt be discontinued. 20. Assignment of Rents; Appointment of Receiver; Lcndcr in Possession. As additional security hereunder, Burrower hereby assigns to Lender the rents of the Property; however, Burrower shall, prior to Acceleration under paragraph I8 (Acceleration; Foreclosure; Other Remedies) or abandonment of the Property, have the right to collect and retain such rents as they become due and payable. Zander or the holder of the Trustee's certificate of purchase shall be entitled to a receiver for the Property after Acceleration under paragraph 18 (Acceleration; Foreclosure; Other Remedies), and shall also be so entitled during the time covered by foreclosure proceedings and the period of redemption, if any; end shall be entitled thereto as a matter of right without regard to the solvency or insolvency of Borrower or of the then owner of the Property, and without regard to the value thereof Such receiver may be appointed by any Court of competent jurisdiction upon ex pane application and without notice -notice being hereby expressly waived. Upon Acceleration under paragraph I8 (Acceleration; Foreclosure; Other Remedies) or abandonment of the Property, Lender, in person, by agent or by judicially-appointed receiver, shall be entitled to enter upon, take possession of and manage the Property and to collect the rents of the Property including those past due. All rents collected by Lender or the receiver shall be applied, first, to payment of the costs of preservation and management of the Property, second, to payments due upon prior liens, and then to the sums secured by this Dced of Trust. Lender and the receiver shall be liable to account only fur those rents actually received. 21. Release. Upon payment of all sums secured by this Dccd of Trust, Lender shall cause Trustcc to release this Dccd of Trust and shall produce fir Trustcc the Note. &rrtawer shall pay all costs of recordation" and shall pay the statutory Trustee's tees. If Lender shalt not produce the Note as afi+resaid, then Lcndcr, upon notice in accordance with paragraph 16 (Notice) from Burrower to Lcndcr, shall obtain, at Lender's expense, and lilt any lust instrument bond rcyuircd by Trustcc ur pay the cost thereof to effect the release of this Dccd of Trust. 22. Waiver of Exemptions. Borrower hereby waives all right of homestead and any other exemption in the Property under state or federal law presently existing or hereafter enacted. 23. Escrow Funds for Taxes and Insurance. This paragraph 23 is not applicable if Funds as defined below arc being paid pursuant to a prior encumbrance. Subject to applicable law, Borrower shall pay to Lender.on each day installments of principal and interest are payable under the Note, until the Note is paid in full, a sum (herein referred to as "Funds")equal to NSA of the yearly taxes and assessments which may attain priority aver this Dccd of l'nrst, plus NSA of yearly premium installments firr Property Insurance, all es reasonably estimated initially and from time to time by Lcndcr tin the basis of assessments and bills and rcasonable estimates thereof, taking into account any excess Funds not used or shortages. The principal of the Funds shall be held in a separate account by the Lender in trust for the benefit of the Borrower and deposited in an institution the deposits or accounts of which are insured or guaranteed by a federal or state agency. Lender shall apply the Funds to pay said taxes, assessments and insurance premiums. Lender may not charge for so holding and applying the Funds, analyzing said account or verifying and compiling said assessments and bills. Lender shat I not be required to pay Borrower any interest or earnings on the Funds. Lender shall give to Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds and the purpose for which each debit to the Funds was made. The Funds are pledged as additional security fir the sums secured by this Deed of Trust. If the amount of the Funds held by Lender shall nut be sufficient to pay taxes, assessments and insurance premiums as they fall due, Borrower shall pay to Lender any amount necessary to make up the deficiency within 30 days from the date notice is given in accordance with paragraph 16 (Notice) by Lender to Borrower requesting payment thereof. Upon payment in full of all sums secured by this Deed of Trust, Lender shall simultaneously refund to Borrower any Funds held by Lender. If under paragraph I8 (Acceleration; Foreclosure; Uther Remedies) the Property is sold or the Property is otherwise acquired by Lender, Lender shall apply, no later than immediately prior to the sale of the Property or its acquisition by Lender, whichever occurs first, any Funds held by Lender at the time of application as a credit against the sums secured by this Deed of Trust. 24. Transfer of the Property: Assumption. The following events shat) be referred to herein as a "Transfer": (i) a transfer or conveyance of title (or any portion thereof, Icgal or equitable) of the Property (or any part thereof or interest therein), (ii) the execution of a contract ur agreement creating a right to title fur any portion thereof, Icgal or cyuitahle? in the Pmperty (or any part thereof or interest thercin?, (iii) or an agreement granting a possessory right in the Property (or any portion thereof), in excess of three (3) years, (iv) a sale or transfer of, or the execution of a contract or agreement creating a right to acquire or receive, more than fifty percent (509x) of the controlling interest or more than fifty percent (SOLI) of the beneficial interest in the Borrower. (v) the reorganization, liquidation or dissolution of the Bortower. Not to be included as a Transfer arc (i) the creation of a lien or encumbrance subordinate to this Deed of Trust, (ii? the creation of a purchase money security interest for household appliances, or (iii) a transfer by devise, descent or by operation of the law upon the death of a joint tenant. At the election of Lender, in the event of each and every Transfer. (a) All sums secured by this Deed of Trust shall become immediately due and payable (Acceleration). (b) If a Transfer occurs and should Lender not exercise Lender's option pursuant to this paragraph 24 to Accelerate, Transferee shall be deemed to have assumed all of the obligations of Borrower under this Decd of Trust including all sums secured hereby whether or not the instrument evidencing such conveyance, contract or grant expressly so provides. This convenant shall run with, the Property and remain in full force and effect until said sums are paid in full. The Lender may without notice to the Borrower deal with Transferee in the same manner as with the Borrower with reference to said sums including the payment or credit to Transferee of undisbursed reserve Funds on payment in full of said sums, without in any way altering or discharging the Borrower's liability hereunder for the obligations hereby secured. (c) Should Lender not elect to Accelerate upon the occurrence of such Transfer then, subject to (b) above, the mere fact of a lapse of time or the acceptance of payment subsequent to any of such events, whether or not Lender had actual or constructive notice of such 7"ransfcr, shall not be deemed a waiver of Lender's right to make such election nor shall Lender be estopped therefrom by virtue thereof. The issuance on behalf of the Lender of a routine statement showing the status of the loan, whether or not Lender had actual or constructive notice of such Transfer, shall not be a waiver or estoppel of Lender's said rights. 2S. Borrower's Copy. Borrower acknowledges receipt of a copy of the Note and this Deed of Trust. Continued on reverse side. EXECUTED BY BORROWER. ' IF BORROWER IS NATURAL PERSON(S): doing business as IF BORROWER IS CORPORATION: ATTEST: Name ul Crxprcauon Secretary by PresiJenl (SEAL) IF BORROWER lS PARTNERSHIP: Nana of Wartnership by A General Partner STATE OF COLORADO ss. BOUNTY OF The foregoing instrument was acknowledged bclore me this day of , 19 , by* Witness my hand and officiai seal. My commission expires: Notary Public AJJrcss •If a natural person or persons, insert the namersl of wch pcrwnlsl. If a corporation. imcn. lin example 'John Drk as PnsiJem unJ Jane Ihx as Sccreran ul Dce k Co.. a Colorado corporation." If a partnership. insert. for example. "Sam Smuh as general partner in and fur Smith K Smith. a general partnership." ~ ~ w O ~ .D H ~ T I ~ v W r[_~/~ ~ VI r^ ~ I Z VI ~ Q C A O 1~1 h'~I ~ ~Q c Y v ~ ~ E r ~ r ~ ~ p o ~ F+q a ~ ?v W V ~ A ~ oG w U s u A Q F- rn v Z w a _ A W u ~ ~ u c u ~ 'fl o H v ~ z E u E LE m J EXHIBIT A The payment schedule for the promissory note shall be as follows: a) July 5, 1991 $29,066.67 Principal 6,976.00 Interest TOTAL 36,042.67 Balance Remaining $58,133.33 b) July 5, 1992 $29,066.67 Principal 4,650.67 Interest TOTAL 29,066.66 Balance Remaining $29,066.66 c) July 5, 1993 $29,066.66 Principal 2,325.33 Interest TOTAL 31,391.99 Balance Remaining $ -0- EXHIBIT B . TO THE DEED OF TRUST DATED 1990 BETWEEN TOWN OF VAIL, COLORADO ("BORROWER") AND THE PUBLIC TRUSTEE OF EAGLE COUNTY, STATE OF COLORADO, FOR THE BENEFIT OF ROBERT W. GLAKE AND FERN F. GLAKE ("LENDER") In the event of a conflict or inconsistency between the printed terms of the Bradford-Robinson Form No. TD72-11-83 "Deed of Trust" of which this Exhibit B is a part and the typewritten terms of this Exhibit B, the terms of this Exhibit 6 shall control. ARTICLE I LIMITATION OF BORROWER'S LIABILITY Borrower shall have no liability under this Deed of Trust or the Note secured hereby or other instruments securing the Note for the payment of principal or interest or the performance of any of the other obligations and liabilities set forth therein, it being expressly understood that the execution of this Deed of Trust by Borrower is for the sole purpose of evidencing the continuing indebtedness created hereby subject to the annual appropriations by Borrower, and that in the event of a default hereunder, or under the Note or. other instruments securing the Note, the sole remedy of the Lender shall be through an action against the Property. ARTICLE II PARTIAL RELEASES Section 2.1. R~ci ht to Partial Release. Borrower shall be entitled to partial releases of the lien created by this Deed of Trust (a "Partial Release") from the Lender from time to time as set forth in this Article. Section 2.2. Request for Partial Release. Each request for a Partial Release shall be delivered to Lender. Each request for a Partial Release shall specify the number of square feet to be released and the manner in which the Release Price has been paid. Lender, at its sole discretion, shall determine the location of the square feet to be released. Lender shall obtain, at Borrower's expense, a survey made by a registered Colorado land surveyor with the legal description of the land and a certified calculation of square footage. Upon delivery to Lender of a request for a Partial Release together with all required supporting documentation, Lender shall, unless it reasonably believes that the Release Price has not in fact been paid in full: i. Within five days after receipt of the documents listed above, execute and deliver to the Public Trustee of Eagle County, Colorado ("Public Trustee") a Partial Release in the form requested by Borrower; and ii. Cause the Note and this Deed of Trust to be displayed to the Public Trustee, if necessary, in order to secure the execution and recording of the Partial Release by the Public Trustee. Notwithstanding the foregoing, Lender may also execute requests for Partial Releases and deliver them to the Public Trustee if Lender so desires. Any Partial Release recorded hereunder shall contain a provision stating that the real property so released remains subject to Lender's option to repurchase as stated in Article 3 and certain limitations on use and transfer as set forth in Article VIII. Section 2.3. Display of Instruments. Lender, for itself, its heirs, successors and assigns, hereby agrees that the Note and Deed of Trustlneed not be displayed to the Public Trustee in order to secure recording of a Partial Release, and authorizes the Public Trustee to execute and record a Partial Release if signed by Lender. Section 2.4. Release Price. Borrower shall be entitled to a Partial Release of fifteen percent (15%) or more of the Property upon payment of the 'Release Price" in the amount equal to the Purchase Price paid by Borrower for the Property ($109,000.00). Section 2.5. Credit of Prepa.vment. Borrower shall be entitled to a credit against the Release Price for all payments of principal on the Note which have not previously been applied in order to obtain a Partial Release. The cash down payment and earnest money deposit of $21,800.00 previously paid by Purchaser for the Property shall be credited against the payment of the Release Price. No amount paid as interest on the Note shall be credited against the Release Price. Section 2.6. Expenses. All reasonable out-of-pocket expenses incurred by Lender in preparing and recording Partial Releases shall be paid by Borrower, including but not limited to, survey expenses, legal fees, and recording costs. ARTICLE III OPTION TO REPURCHASE; ZONING At any time within six months after Lender recovers fee title to the Property or any portion thereof as a result of foreclosure of this Deed of Trust, a deed in lieu thereof, or otherwise, Lender shall have the right to repurchase from Borrower any portion or all of the Property previously released from the lien of this Deed of Trust pursuant to Article II upon the payment to Borrower of a sum per acre equal to $109,000.00 divided by the total number of square feet of the Property for each acre to be repurchased. This option shall be exercised by written notice from Lender to Borrower. The purchase price shall be paid in cash or certified funds within thirty days after the delivery of notice by Lender to Borrower exercising this option to repurchase. Upon the payment of the purchase price, Borrower shall convey the Property or any portion thereof so repurchased to Lender by general warranty deed free and clear of all liens and encumbrances except for easements, covenants, restrictions, reservations, and rights-of-way of record as of the date of this Deed of Trust. Borrower shall also cause to be provided to Lender (and shall pay the premium thereon), a title insurance commitment and policy insuring fee simple title in Lender subject only to the exceptions permitted as set forth above. This transfer shall either be exempt from the Vail Real Estate Transfer Tax or shall be paid by the Borrower. Borrower shall pay all costs and expenses related to the transfer of the Property pursuant to this section, and taxes, insurance, utilities, and all other such items shall be equitably prorated between the parties at the time of the payment of the purchase price. ARTICLE IV COMPLIANCE WITH LAW During the term of this Deed of Trust, Borrower shall comply with all requirements of law with respect to the Property and the use thereof, including, but not limited to, municipal ordinances, building and zoning regulations and restrictions and covenants of record. ARTICLE V MECHANICS' OR OTHER LIENS Borrower shall not permit or suffer any mechanic's, laborer's, materialman's, statutory or other lien (other than any lien for taxes not yet due) to be created upon the Property unless the same are bonded or insured against by a title insurance company satisfactory to Lender. ARTICLE VI UTILITY CHARGES Borrower shall pay when due all utility charges, including gas, electricity, water or sewer services furnished to the Property and all other assessments or charges of a similar nature. ARTICLE VII INSPECTIONS Lender or its agents, may enter at any reasonable time upon the Property for the purpose of inspecting the same and for the purpose of performing any act it is authorized to perform under the terms of this Deed of Trust or the Note it secures. -2- ARTICLE VIII TRANSFER OF PROPERTY During the term of this Deed of Trust, Borrower sha11 not sell, convey, transfer, further encumber, grant easements over, on, or across or otherwise dispose of the Property or any portion thereof or any interest therein, whether legal or equitable, and whether voluntary or involuntary, including any portion of the Property which has been released from the lien of this Deed of Trust without the prior written consent of the Lender. ARTICLE IX PRESERVATION OF PROPERTY If Borrower fails to make any payment or do any act required by this Deed of Trust or the Note or by any prior encumbrance, lien, reservation, restriction, condition, or covenant affecting the Property, then Lender may, without obligation or notice, make any payment or do any act to the extent necessary to protect the Property. In so doing, Borrower shall not be released from any obligation created under this Deed of Trust. Any payments made by Lender and the costs and expenses, including attorneys' fees, incurred by Lender by doing any act as provided in this Article shall become additional principal under the Note, secured by this Deed of Trust, and shall bear interest at the rate of the greater of 18°~ or four (4) percentage points above the Prime Rate, and shall be immediately due and payable from Borrower to Lender. ARTICLE X NOTICE All notices provided hereunder shall be in writing and shall be deemed given when personally delivered, or when deposited in the United States mail, postage prepaid, registered or certified mail, return receipt requested, addressed to the applicable party as follows, or at such other address as shall be designated by such party by written notice to the other party: If to Borrower, addressed to: Town Manager Town of Vail 75 South Frontage Road Vail, Colorado 81657 If to Lender, addressed to: Robert W. and Fern F. Glake ARTICLE XI GENERAL Section 11.1. Future Consent. The granting of consent by Lender to any transaction as required by the terms hereunder shall not be deemed a waiver of the right to require consent to future or successive transactions. Section 11.2. Waiver. No waiver of any event of default hereunder shall extend to or affect any subsequent or any other event of default then existing or impair any rights, powers or remedies consequent thereon. Section 11.3. Severability. In the event any one or more of the provisions contained in this Deed of Trust shall for any reason be held to be invalid, illegal, or unenforceable in any respect, such invalidity, illegality, or unenforceability shall not affect any other provision of this Deed of Trust, but this Deed of Trust shall be construed as if such invalid, illegal, or unenforceable provision had never been contained herein. Section 11.4. Successors and Assigns. This Deed of` Trust shall be binding upon the heirs, successors and assigns of the respective parties hereto. -3- t Section 11.5. Governing Law. This Deed of Trust shall be construed, enforced and governed in accordance with the laws of the State of Colorado. Section 11.6. Gender. As used herein, the singular shall include the plural, the plural includes the singular, words of one gender shall include another gender. Section 11.7. Amendment. This Deed of Trust shall be amended only by an instrument in writing signed by the party against whom enforcement is sought. However, in the event any provision hereunder conflicts with the applicable laws, such provision shall be deemed to conform thereto. BORROWER: ATTEST: TOWN OF VAIL, COLORADO, a Colorado municipal corporation By: Pamela A. Brandmeyer, Town Clerk Rondall V. Phillips, Town Manager LENDER: LENDER: Robert W. Glake Fern F. Glake -4- The printed portionc o[ lhic forma roved the Colorado Real l~slale Commiecion~I)S3 5%~9) 7'1115 IS A LEGAL INSTRUMPJdI'. IR NOT UNDERSTOOD, LEGAL, TAX OR OTHER COUNSEL St 10U LD bl; CONSULTED 0[iFORB SIGNING. VACANT LAND CONTRACT TO BUY AND BELL REAL 88TATE Seller's remedy Liquidated Damages or Specific Performance (Section 16) • ,19 i. PARTIES AND PROPERTY. Town of Vail purchaser(s) [Purchaser], (as joint tenants/tenants in common) agrees to buy, and the undersigned seller(s) [Seller[, agrees to sell, on the terms and conditions set forth . in this contract, the following described real estate in the County of ,Colorado, to wit: Lots 1 and,3, Block H, Vail das Schone Filing,2 • known as No. 2497 and 2485 Garmish Drive (Street Address) Vail, CO 81657 (City, State, Zip) together with all interest of Seller in vacated streets and alleys adjacent thereto, all easements and other appurtenances thereto, all improvements thereon and all attached fixtures thereon, except as herein excluded, and called the Property. 2. INCLUSIONS. 'The purchase price includes the following items (a) if attached to the Properly on the date of this contract: lighting, healing, plumbing, ventilating, and air conditioning fixtures, 7'V antennas, water soflencrs,smoke/fire/burglar alarms, security etevices, inside telephone wiring anti connecting blocks/jacks, plants, mirrors, floor coverings, intercom systems, built-in kitchen appliances, and sprinkler systems and controls; (b) if on the Property whether attached or nut on the dale of this contract: built-in vacuum systems (incluclingaccessorics),storm wincluws, storm doors, window anct porch shaeles, awnings, blinds, screens, curtain rods, drapery rods, fireplace inserts, fireplace screens, fireplace grates, heating staves, storlgc sllccls, all keys and garage cluur openers including remote wnlrols; and (c) (d) Water Rights. Purchase price to include the [ollowingwater rights: N/A (e) Growing Crops. With respect to the growing crops Seller and Purchaser agree as follows: N/A The above-described included items (Inclusions) are to be conveyed to Purchaser by Seller by bill of sale, deed or other applicable legal instrument(s) at the closing, free and clear of all taxes, liens and encumbrances, except as provieicd in section 10. 7'hc following attached fixtures are excluded from this sale: None 3. PURCEIASE PRICE AND TERMS. The purchase price shall be S 109.000.00 ,payable in U.S. dollars by Purchaser as follows (complete the applicable terms below): (a) EARNEST MONEY. S 10.000.00 in the form of Town of Vail check , as earnest money deposit and part payment o[ the purchase price, payable to and held by Vail Associates Real Estate broker, in broker's trust account on behalf of both Seller and Purchaser. Broker is authorized to deliver the earnest money deposit to the closing agent, if any, at or before closing. . ~ (b) CASEI AT CLOSING. S 11 .800.00 to be paid by Purchaser at closing in cash, electronic transfer funds, certified check, saving and Juan teller's check, or cashier's check. Subject to the provisions of section 4, if the existing loan balance at the lime of closing shall be different from the loan balance in section 3, the adjustment shall be made in cash at closing or paid as follows: (c) NEW LOAN. $ N/A by Purchaser obtaining a new loan. 'Phis loan will be secured by a (1st, 2nd, etc.) deed of trust. 1'he new loan to Purchaser shall be amortized over a period o[ years at approximately S per including principal and interest not to exceed % per annum, plus, if rcquirecl by Purchaser's Icncler, a deposit of of the estimated annual real estate taxes, property insurance premium, and mortgage insurance premium. If the loan is an adjustable interest rate or graduated payment loan, the payments and interest rate initially shall not exceed the figures set forth above. . No. CIIS3 5189 VACAN"f I.ANDIRARM AND RANCII COM'RACTTO DUY ~ SELL R +f~1L ESfATt3 Page 1 alb McAlluier ubliching, 502 Main Carbondale, CO 81623 (303)963.1027 ! j Loan discount points, i[ any, shall be paid to lender at closing and shall not exceed ! % of the total loan amount. 7'he first (1, 2, etc.) loan discount points shall be paid by ,and the balance, i[ any, shall be paid by . Purchazer shall limcly pay a loan origination fee not to exceed % of the loan amount and Purchaser's loan costs. Cost o[ any appraisal for loan purposes to be obtained after this date shall be paid by upon loan application as required by lender. (d) ASSUMPTION. S N/A by Purchazer's assuming and agreeing to pay an existing loan inlhis approximate amount, presently payable at S per including principal, interest presently at % pcr annum, and including escrow for the following az indicated: ? real estate taxes, ? property insurance premium, ? mortgage insurance premium, and Purchaser agrees to pay a loan transfer fee not to exceed S At the time of assumption, the new interest rate shall vat exceed %pcr annum and the new payment shall not exceed S plus escrow, i[ any. Sellcr ? shall ? shall not be rcleazcd from liability on said loan. if applicable, compliance with the requirements for release from liability shall be evidenced by delivery at closing of appropriate letter (rocn lender. Cost payable for release of liability shall be paid by in an amount not to exceed ~ (e) SELLER OR PRIVATE THIRD-1'AR'I'Y FINANCING. S 87 , 200.00 by Purchaser executing a promissory note payable to: D:Lxon and Ltieille Kevser on the note form as indicated: (check one box) ~X Right-to-Cure NTD 82-11-83 ? No Right-to-Cure NTD 81-11-83 ~ - D secured by a (lst,2nd,ele.) deed of trust encumbering the Property, using the form as indicated; (check one box) ~}C Strict Due-on-Sale (TD 72-11-83) ? Creditworthy (TD 73-11-83) ? Assumable -Not due on Sale (TD 7411-83) ? The promissory note shall be amortized on the basis of 3 years, payable at S see Addendum A pcr inducting principal and interest at the rate of 8 % per annum. Cayments shall commence July 5 , 1991 and shall be due, on the 5th clay of each succeeding Ju lv . I[ not sooner paid, the balance of principal and accrued interest shall be clue and payable July 5 , 1993 after closing. Payments ? shall ®X shall not be increased by of estimated annual real estate taxes, and ? shall ~C shall not be increased ley of estimated annual property insurance prcmiurn. The loan shall also contain the following terms az indicated: If any payment is not received within 15 calendar stays after its due date, a late charge of 18 % of such payment shall be due.. Interest on lender disbursements under the deed o[ trust shall be 18 % per annum. Default interest rate shall be 18 % per annum. Purchaser may prepay without a penalty except None .-..I 3~16MI6.6AM'~l.i'1"I .r ~ "_'_.1 TlE?~ a) Loan Application(s). If Purchazer is to pay all or part of the purchaze price az set forth in section 3 by obtainin env loan or t existing loan is not to be released at closing, Purchaser, if required by such lennder, shall make written placation within Icndar days from acceptance of this contract. Purchaser shall cooperate with Seller and ten to obtain loan approval, diligent d limcly pursue same in good faith, execute all documents and furnish all info lion and documents requiree) by the lender, a subject to section 3, timely pay the costs of obtaining such loan or level nsent. ' (b) Loan Approval. If haler is to pay all or part o(lhc purchase price by obtainin ? new loan as specified in section 3, this wnlract is conditional upon clcr's approval of the new loan on or before / 1') If not so approved by said date, this conlr shall terminate. If /he loan is soap ed, but such proceeds!are not available to Purchazer as required in section 5 (Good Fune the time o[ closing, closi all be extended one time for calcnelar clays (not to exceed (5) five). If sufficient funds are n hen available, 'contract shall terminate. (c) Existing-Loan Review. If an existing loan is no be eased at closing, Seller shall provide rnpies of the loan elocumcnts (including note, deed o[ trust, moctificalions) t u ser within tale;ndar days from acceptance of this contracl.'fhis contract is conditional upon Purchaser' icw anti app I of the provisions of such loan elocumcnts. t'urchascr consents to the provisions of such loan docu is if no written objeclt is received by Sellcr or Listing Company from Purchaser within calendar days Purchaser's receipt of such locum s. If the lender's approval of a transfer of the Property is rcquirccl, this contras conditional upon Purchaser's obtaining such roust without change in the terms of such loan, except az set forth ' action 3. If lenclet's approval is not obtained on or be~dT~ , 19 ,this contras all be terminated on such date. If Seller is to be released from lialb f~ undi;r such existing loan and 1'urchazer does obtain such compliance az set forth in section 3, this contract may be lermin 1 at Seller's option. (d) Ass lion Balance. If Purchazer is to pay all or part of the purchase price by assuming an exists loan and if the actual rpal balance of the existing loan at the elate of closing is less than the amount in section 3 b ore than S ,then Purchaser may terminate this contract effective upon receipt by Seller or Listing Co any ~et''~. ~ ~ H . : fl' : ~ :1`ls[et4rteNlet[. No. C053 5189 VACANT LAND~FARM AND RANCI I CONTRACT TO DUY l~ SELL RFAL ESTATE Psge 2 of 6 McAllister ubliching, 502 Mnin t., Carbondale, CO 81623 (307)963.1027 ' 1hl\ i .w.. • . . Selle~ isty~sting loan is not to be released at closing, this contract is conditional upon Seller's approva c laser's financial ability and ere iness, wl?ich approva{ shall be at Seller's sole and absolute etiscreti c ? case: (1) I'urchascr shall supply to Seller on or befor 19 aser's expense, information a??cl clocumenls concerning Purchaser's financial, emp nd crcdi elm; (2) Purchaser consents that Seller may verify Purchaser's financial ability and creelitworlhiness; 3 ? n? s n anel clocumenls received by Scllcr shall be held by Scllcr in confictcnce, anct not releaser rs except to protect Seller's rn this transaction; (4) if Seller sloes not provide written notice o e ?sapproval to I'urchascr on or before 19 ,then Scllcr waives th' on. If Seller does provide written notice o[ disapproval to Purchaser on or before said date, tract shall 5. GOOD FUNDS. All payments required at closing shall be made in funds which comply with all applicable Colorado laws. G. N07' ASSIGNABLE. This contract shall not be assignable by Purchaser without Seller's prior written consent. L?xcept as so restricted, this coniracl shall inure to tl?e benefit of anti be binding upon the heirs, personal reprcaentatives, successors and assigns of the parties. 7. EVIDENCE OF TITLE. Seller shall furnish to Purchaser, at Seller's expense, either a current commitment for owner's title insurance policy in an amount equal to the purchase price or at Seller's choice, an abstract o[ title certified to a current date, on or before June 20 ~ lg 90 If a title insurance commitment is furnished, Purchaser may require of Seller that copies of instruments (or abstracts of instruments) lisleci in the scheciulc of exceptions (rxceptiorts) in tl?c title insurance commitment also be furnished to I'urchascr al Seller's expense. This requirement shall pertain only to instruments shown o[ record in the office o[ the clerk anti recorder of the designated county or counties. 7'hc title insurance commitment, together with any copies or abstracts of instruments furnished pursuant to this section 7, wnstitute the title documents ('T'itle Documents). Purchaser must request Seller to furnish copies or abstracts o[ instruments listed in the schedule of exceptions no later than 14_ calendar days after Purchaser's receipt of the title insurance commitment. If Seller furnishes a title insurance commitment, Scllcr will have the tills insurance policy delivered to Purchaser as soon as practicable after closing and pay ll?e premium at closing. 8.7'I'1'LE. (a) Title Review. Purchaser shall have the right to inspect the Title Documents or abstract. Written notice by Purchaser o(unmerchantability of tide or o[ any other unsatisfactory title condition shown by the Title Documents or abstract shall be signed by or on behalf of Purchaser and given to Seller or Listing Company on or before 10 calendar clays after Purclaser's receipt of 'title Documents or abstract, or within Gve (5) calendar clays alter receipt by Purchaser of any'I~illc Document(s) or endorsement(s) adding new Cxceplion(s) to the title commitment together with a copy of the Title Document acicling new Csxception(s) to title. I[ Scllcr or Listing Company does not receive Purchaser's notice by the dale(s) apeciGecl above, Purchaser shall be deemed to have accepted the condition of title as cliscloseei by the T'ille Documents as satisfactory. (b) titaUers Nol Shown by the Public Records. 5cller shall deliver to Purcl?ascr, on or before the daft set forth in section 7, true copies of all (case(s) anti survey(s) in Seller's possession pertaining In the Property and shall clisclosc to l'urchascr all easements, liens or other tills matters not shown by the public records o[ which Seller has actual knowledge. 1'urchascr shall have the right to inspect the Property to determine if any third party(s) has any right in the Property not shown by tl?c public records (such as an unrecordeei easement, unrecorclccl Icase, or boundary line discrepancy). Written notice of any unsatisfactory conciilion(s) clisclosccl by Seller or revealed by such inspection shall be sig ned by or on behalf of Purchaser and given to Seller or Listing t::ompany on or before June 30 ~ 19 90 if Seller or Listing Company does not receive Purchaser's notice by saki date, Purchaser shall be cleemeci to have acceptedl title subject to such rights, if any, of tl?ird parties of which Purchaser has actual knowledge. (c) Rigl?t to Cure. If Scllcr or Listing Company receives notice o[ unmerchantability of title or any other unsatisfactory title condition(s) as provided in subsection (a) or (b) above, Seller shall use reasonable effort to correct said unsatisfactory tit{c conditions(s) prior to the date of closing. If Seller fails to correct said unsatisfactory title condition(s) on or before the date of closing, this contract s1?all then terminate, subject to section 17; provided, however, Purchaser may, by written notice received by Seller or Listing Company on or before closing, waive objection to said unsatisfactory title condition(s). 9. I)A7'L OF CLOSING. The date of closing shall be July 5 , 19 90 or by mutual agreement at an earlier date. The hour and place of closingshall be as desig??ateci by Purchaser and Seller 10.7'RANSFER OF TI'T'LE. Subject to tender or payment on closing as required herein and compliance by Purchaser with the other terms and provisions hereof, Seller shall execute anti deliver a good anel sufficient General Warranty cieecl to Purchaser, on closing, conveying the Property free and clear o[ all taxes except the general taxes for the year of closing, and except None free and clear of all liens for special improvements installed as of the date of Purchaser's signature hereon, whether assessed or not; except distribution utility easements, including cable '!'V; except those matters reflected by the Title Documents acccplccl by Purchaser in accordance with subsection 8(a); except those rights, if any, o[ third parties in the Property not shown by the public records in accordance with subsection R(b); and subject to building and zoning regulations. 11. PAYh1CIYl' OF ENCUMBRANCES. Any encumbrance required to be paid ah~ll be paid at ar before the time of settlement from the proceeds of this transaction or from any other source. 12. CLOSING COSTS, DOCUtitENTS AND SERV{CGS. Purchaser and Seller shall pay their respective closing costs al closing except as otherwise provided herein, Purchaser and Scllcr shall sign and rnmpletc all customary or required ck~cuntcnls at or I~efore closing. Fees for real estate closing and settlement services shall nut exceed S 200.00 and shall be paid at closing by P??rr•~,q~,r ar~Q 7 1 nr 13. PROBATIONS. General taxes for the year of closing, based on the most recent Icvy and the most recent assessment, cents, water and sewer charges, owner's association dues, and interest on continuing loan(s), if any, anti West Va i 1 Road Improvements shall be prorated to date of closing. Any sales, use and transfer tax that may accrue because o[ this transaction shall be paid by Purchaser . [Jo. Ct1S3 589 VACANT LANDJFARM AND RANCI I CONTRACT TO DUY 6: 5L3.L RL3A1. ~SI'AT8 Pa6e 3 of 6 McAllirtet ublirhing,502MeinSSt.,Carbondnle,CO 61623 (3(J3}963.1tr27 ~1 14. POSSESSION. Possession of the Property shall be delivered to Purchaser as follows: On the date of closing • i subject to the fo{knving lease(s) or tenancy(s): None i Ii Seller, after closing, fails to deliver possession on the date herein specified, Seller shall be subject to eviction and shall be additionally liable to Purchaser for payment o[ S 200.00 per day from the date of agreed possession until possession is delivered. 15. CONDITION OF AND DAMAGL7'1'O PROPERTY. The Property and Inclusions shall be oonvcyecl in their present wndition, ordinary wear and scar excepted, In the event the Property shah be damaged by fire or other casually prior to time of closing, in an amount of not more than ten percent of the total purchase price, Seller shall be obligated to repair the same before the date of closing. In the event such damage is not repaired within said lime or if the damages .exceed such sum, this contract may be terminated at the option of Purchaser. Should Purchaser elect to carry out this contract despite such damage, Purchaser shall be entitled to credit for all the insurance proceeds resulting Ifrom such damage to the Properly and Inclusions, not exceeding, however, the total purchase price. Should any Inclusion(s) or service(s) fail or be ciamageel between the dale of this contract and the date of closing or the date of possession, whichever shall be earlier, then Seller shall be lial~lc for the repair or replacement of such Inclusion(s) or service(s) with a unit o[ similar size, age and quality, or an equivalent credit, Tess any insurance proceeds received by Purchaser coveting such repair or replacement. 7'he risk o[ loss for any damage to growing crops, by fire or other casualty, shall be borne by the party entitled to the growing crops, if any,~as proviclccl in section 2 and such party shall be enlitlecl to sucl~ insurance proceeds or benefits for the growing crops, if any. 16. TIME OF TrSSENCr/REMEDIES. Time is of the essence hereof. If any note or check received as earnest money hercuncler or any other payment clue hereunder is not paid, honored or tendered when due,or if any olher'obligation hereunder is not performed or waived as herein provided, there shall be the following remedies: (a)1F PURCHASER IS IN DEFAULT: IF TI lE BOX 1N SUBSECTION (1) IS CI IECKED, SELLER'S REMEDIES SIIIALL BE ASSET FORTH IN SUBSECTION (1) (SPECIFIC PERI'ORMANCEj. IF SAID BOX IS NOT CEiECKED, SELLER'S REMEDIES SHALL BE AS SCI' FORTI( IN SUBSECTION (2) ~LIQUfUA'TED DAMAGESJ. ? (1) Specific Performance. Seller may elect to treat this contract as cancelled, in which case all payments and things of value received hercuncler shall be forfeited and retained on behalf of Seller, and Seller may recover such damages as may be proper, or Seller may elect to treat this contract as being in full force and effect and Seller shall have the right to specific performance or damages, or both. (2) Liquidated Uamagcs. All payments and things of value received hercuncler shall be forfeited by Purchaser and retained on behalf o[ Seller and both parries shall thereafter be released from all obligations hereunder. It is agrcccl that such payments and things of value are LIQUIDATED DAMAGES and (cxcepk as proviclecl in subsection (c)) arc SELLER'S SOLL• AND ONLY REbfEUY for Purchaser's failure to perform the obligations of this contract. Scllcr expressly waives the remeclics o[ specific performance and aclclirional damages. i (b) IF SELLER 1S IN DEFAULT: Purchaser may elect to treat this contract as cancelled, in which case all payments and thing's of value received hereunder shall be returned and Purchaser may recover such damages as may be proper, or Purchaser may elect to treat this contract as being in full force and effect and Purchaser shall have the right to ;specific performance or damages, or both. (c) COSTS AND EXPENSES. Anything to the contrary herein notwithstanding, in the went o[ any litigation or arbitration arising out of this contract, the court shall award to the prevailing party all reasonable costs and expense, including attorney Pecs. i 17. EARNEST MONEY DISPUTE. Notwithstanding any tecmination o[ this wntracC, Purchaser and Seller agree that, in the event of any controversy regarding the earnest money and things o[value held by broker of closing agent, unless mutual written instructions are received by the holder of the earnest money and things o[ value, broker or closing agent shall not be rcquirecl to take any action but may await any proceeding, or at broker's or closing agent's option and sole discretion, may interpleacl all parties anct deposit any moneys or things of value into a court of competent jurisdiction ancl~shall recover court costs and reasonable attorney fees. 18. INSPECTION. Purchaser or any designee shall have the right to have inspection(s) of the physical condition of the Property and Inclusions, at Purchaser's expense. If written notice of any unsatisfactory condition, signed by Purchaser, is not received by Seller or Listing Company on or before June 30 ,19 9Q ,the physical condition of the Property and Inclusions shall be deemed to be satisfactory to Purchaser. If written notice o(any unsatisfactory conclilion, signed by Purchaser, is given to Seller or Listing Company as set forth above in this section, and if Purchaser and Seller have not reached a written agreement in settlement thereof on or before July 5 ,19 90 , tFris wntract shall then terminate, subject to section lT. Purchaser is responsible and shall pay [or any damage which occurs to the Property and Inclusions as a result o[such inspection. , No. CDS3 5189 VACANT IANDlPARM AND RANCH CONTRACT TO BUY dt SL~.L RIiAI. BSTATB Page 4 of 6 MNtliner eubluhing, 502 Mein 5 . Carbondale, CO 81623 (103)963-1029 i r 1 19. AGENCY DISCLOSURE. 1'hclistingbro{cer, Vail Associates Real Estate, Inc. ,and its sales agents (Listing Company) represent Seller. The Listing Company owes duties of trust, loyalty and confidence l0 5eller only. While the Listing Company has a duty to treat Purchaser honestly, the Listing Company is the Seller's agent and is acting on behalf of Seller and not Purchaser. HY SIGNING Bf:1.OW, PURCHASER ACKNOWLEDGES PRIOR'I'IMELY NOTICE' IiY LISTING OR SELLING COMPANY 7'1tAT LISTING COMPANY 1S SELLER'S AGENT. The selling broker, Vail Associates Real Estate ,and its sales agents (Selling Company) represent: [IF TILE BOX IN SUBSECTION (b) IS CHECKED, SELLING COMPANY REPRCENTS PURCHASER ONLY, AS SC!' COR7'II 1N SUBSECTION (b). 1F 7'l1E BOX IN SUBSECTION (b) IS NOT CIIECKLD, SELLING COMPANY REPRESENTS SELLER ONLY, AS. SGl' PORTII IN SUBSECTION (a).] (a) Seller. The Selling Company owes duties of least, loyalty and confidence to Seller only. While the Selling Company has a duty to treat Purchaser honestly, the Selling Company is Sellcr'a agent and is acting on behalf o[ Seller and not Purchaser. BY SIGNING BELOW, PURCHASER ACKNOWLEDGES PRIOR TIMELY NOTICE BY SCsI.LING COh1PANY Tl IAT SELLING COhiPANY 1S SELLER'S AGENT. ? (b) Purchaser. If the box is checked: 7'he Selling Company owes duties o[ trust, loyalty and wn('idenoe to 1'urchascr only. While the Selling Company has a duty to treat Seller honestly, the Selling Company is acting on bchalt o[ Purchaser and not Seller. SELLER AND LISTING COMPANY ACKNOWLEDGE PRIOR TIMELY NOTICE BY SELLING COMPANY THAT IT I5 PURCEIASER'S AGENT. 20. ADDITIONAL PROVISIONS: See Addendum A attached and incorporated in this Agreement by reference. i i ; I i i j I I I 21. RECOMMENDATION OF LEGAL COUNSEL. By signing this document, Purchaser and Seller acknowledge that the Selling Company or the Listing Company has recommended that Purchaser and Seller obtain the advicx of their own Icgal counsel regarding examination of title and this contract. ~ 22. TERh[INATION. In the event this contract is terminated, all payments and thing$ o[ value received hereunder shall be returned and the parties shall be relieved o[ all obligations hereunder, subject to section 17. [Jo. CDS3 5189 VACANT I.ANDf FARM AND RANCI I CONTRACT TO DUY do SP1.L REAL t3STATl3 Pege S of 6 n cAllieler ublirhing, 502 Msin s~., Cafiondale, L'U B1G23 (303)963-1027 . ~ r j 23. N07'1CE OF ACCEPTANCE/COUNTERPARTS. ~ If this proposal is accxpted by Seller in writing and Purchaser receives notice of such acceptance on or before ,19 ,this document shall become a contract between Seller and Purchaser. A rnpy of this document may be executed by each party, separately, and when each party has executed a copy thereof, such copies taken together shall be deemed to be a full and complete contract between the parties. i Js/ ~ j~o NSA t,~ ?l ~ P~-~e.~r PS ~//3/4~ Purchaser ~ Town of Va11 .Ifate . Purchaser ,Date Purchaser's Address ? ~ c50 . r /l_~ l ~~E /C.0 f~-~ Purchaser's Address ~ i [TO BE COMPLETED BY SELLER AND LISTINt3 COMPANY) ~ 24. ACCEPTANCE/COMMISSION. Seller accepts the above proposal this day of ~ , 19 Seller shall pay to the Listing Company a commission of % of the gross purchase price or as agreed upon between Seller and Listing Company for services in this transaction. In the event of forfeiture of payments and things of value received Ircreunelcr, such payments anti things of value shall be divided bch~•ccn Listing Company and Se{ter, one-half thereof to Listing Company, but not to exceed the ~~mmission, and the balance to Seller. Selkr Dixon Keyser Date Seller Lucille Keyser Date Seller's Address Seller's Address _ _ , The undersigned Selling Company acknowledges receipt o[ the earnest money deposit speci[ied in section 3 and both Selling Company and Listing Company confirm the respective agency disclosure set forth in section 19. Selling Company Address • By Date Listing Company ~I Address By Date No. CDS3 5189 VACANT IANt)\PARM ANb RANCI I CONTRACT TO tiUY ~ SFLL RBAL BS7'ATB i Pagc b of b McAllirler ubli~hing, 502 Msin S Carbondale, CO 81623 (30])963.1027 i ADDENDUM A 1. This contract is conditioned upon its approval by the Town Council of the Town of Vail, Colorado. 2. The title insurance policy to be delivered to Purchaser by Seller in accordance with paragraph ? of this Agreement shall have standard exceptions 1 - 4 deleted. 3. The promissory note .referred to in paragraph 3 of the contract shall provide for partial releases to be conveyed to the Purchaser upon each installment payment made to Seller as set forth in said paragraph. Further, the promissory note shall be non-recourse against the Purchaser. The promissory note and deed of trust shall be prep~ired by Purchaser's attorney and shall be submitted to Seller for review a reasonable time before the date of closing. This contract is conditioned upon the promissory note and deed of trust being acceptable in their terms and form to Seller and Purchaser. 4. Purchaser hereby represents and warrants to Seller that there are no hazardous substances on the property including, but not limited to, asbestos, or PCB in its various forms. 5. The payment schedule for the promissory note set forth in paragraph 3 shall be as follows: a) July 5, 1991 $29,066.67 Principal 6,976.00 Interest ' TOTAL 36,042.67 Balance Remaining $58,133.33 b) July 5, 1992 $29,066.67 Principal 4,650.67 Interest TOTAL 29,066.66 Balance Remaining $29,066.66 c) July 5, 1993 $29,066.66 Principal 2,325.33 Interest •TOTAL 31,391.99 Balance Remaining $ -0- . ~ ~ • 1i i i i 71e prWea po.rtees d tu. rorao ~ , . 1 trr tAe C.. Real Estate Cam , INTD 82.11.1fJ1 IF THIS FORM IS USED Iti A CONSIJ!?IER CREDIT TRANSACTION, CONSULT LEGAL COUNSEL. THIS IS A LEGAL INSTR[;MENT. IF NOT UNDERSTOOD, LEGAL, TAX OR OTHER COUNSEL SHOULn BE CONSULTED BEFORE SIGNING. PROMISSORY NOTE (Right to Cure) U.S. E 87.200 Vail ,Colorado . 19 1. f~R VALUE RECEIVED, the undersigned (Borrower) promise(s? to pay Dixon Keyser and Lucille Keyser or order, (Note Holder) the principal sum of Eighty-seven thousand two hundred U.S. Dollars, with interest on the unpaid principal balance from ,1311 v 19 ~Q ,until paid, at the rate of 8 percent per annum. Principal and interest shall be payable at , or such other place as the Note Holder may designate, in three payments of aee F~,yment cchedt+l a attached ac Exhibit A Dollars (U.S. S due on the 5.11__ day of each T,r 1 v beginning .J~,t1 v 5 , 19 ~.Q .Such payments shall continue until the entire indebtedness twidenced by this Note is fully paid; provided, however, if not sooner paid, the entire principal amount outstanding and accrued interest thereon, shall be due and payable on Jttly 5 , I9~~. The covenants of Borrower expressed in this note to pay the aforesaid principal sum and the interest that shall accrue thereon, and other payments required hereunder, whether or not at the option of the Note Holder, are included in this note for the sole purpose of evidencing the continuing existence of the indebtedness only and are subject to annual appropriations by Borrower. In the event of any default or non- payment of any sum due hereunder, Note Holder agrees that it will not look to the personal or individual liability of the Borrower (or any assignee of the Borrower) or endorser hereof and that the sole remedy of the Note Holder shall be foreclosure of the deed of trust which secures note and Note Holder shall not be entitled to a deficiency judgment hereunder, it being understood that the liability of the Borrower is limited to the real property only. 2. Borrower shall pa}• to the Note Holder a late chazge of 18 ~ of any payment not received by the Note Holder within 15 days after the payment is due. 3. Payments received for application to this Note shall be applied fiat to the payment of late charges, if any, second to the payment of accrued interest specified above, and the balance applied in reduction of the principal amount hereof. 4. If any payment required by this Note is not paid when due, the entire principal amount outstanding and accrued interest thettwn shall become due and payable at the option of the Note Holder (Acceleration) twenty days after notice of Acceleration has been given. This time period shall run concurrently wi[h the right to cure , if any, allowed by the Uniform Consumer Credit Code. Such notice of Acceleration shall specify the amount of the nonpayment plus any unpaid late charges and other costs, expenses and fees due under this Note. Until the expiration of srid twenty-day period, the Borrower may cure all defaults consisting of a failure to make required payments by tendering the amounts of all unpaid sums due at the time of tender, without Acceleration, as specified by the Note Holder in such notice. Cure restores the Burrower to his rights under this Note as though defaults had not accumd. Any defaults under this Note occurring within twelve months after the Note Holder has once given a notice of Acceleration, entitles Borrower to no right to cure, except as otherwise provided b}• law. The Note Holder shall be entitled to collect all reasonable costs and expense of collection and/or suit, including, but not limited to reasonable attumeys' fees. S. Borrower may prep:n• the principal amount outstanding under this Nute,in whole or in pan, at an}• time without penalty. Any partial prepayment shall be applicJ against the principal amount outstanding and shall not pustponr the due date of an}• subsequent payments or change the amount of such payments. I~ I No. NTC 82-11-83. COMPUTER. PROMISSORY NOTE-rME c. r. NotrctcEa. eo., DENVER aeaaxe I 6. Borrower and all other makers, sureties. guarantors, and endorsers hereby waive prcsentmrnt, mice of dishonor and protest. •rtid they hereby agree to any extensions of time of payment and partial pa)•mcnts before. at. or after maturity. This Note shall be the joint and several obligation of Borrower and all other makers, sureties, guarantors and endorsers, and their successors and assigns. 7. Any notice to B. ~ ~ ~ :r provided for in this Nute shall be in writing and shall be given and be effective upon (I) delivery to Burrvwcr or 12) mailing such notice by first-class U.S. mail, addressed to B~... ~ .r at the Borrower a address stated beliw.•. or to such uthrr address as Borroetr may designate by notice to the Note Holder. Any notice to the Note Holder shall be in writing and shall be given and be effective upon (I) delivery to Note Holder or (2) by mailing such notice by first-class U.S. mail, to the Note Holder at the address stated in the first paragraph of this Note, or to such other address as Note Holder may designate by notice to Borrower. 8. The indebtedness evidenced by this Note is secured by a Deed of Trust dried JtYlY 5 _ , 19 90 ,and until released said Deed of Trust contains additional rights of the Note Holder. Such rights may cause Acceleration of the indebtedness evidenced by this Note. Reference is made to said Deed of Trust for such additional terms. Said Deed of Trust grants rights in the property identified as follows: Lots 1 and 3, Block H, Vail das Schone Filing 2 i Property address 2497 and 2485 Garmish Drive Vail ,Colorado (CACTION: SIGN ORIGINAL NOTE ONLY/RETAIN COPY) 1F BORROWER IS NATURAL PERSON(S): doing business as iF BORROWER IS CORPORATION: ATTEST: Name ul' Gxpcxaiiim Secarary by Hc.idcm (SEAL) IF BORROWER IS PARTNERSHIP: Name at Pmner~hip by Cxmral Pmn.r Borrower's address: KEEP THIS NOTE IN A SAFE PLACE. THE ORIGINAL OF THIS NOTE MUST BE EXHIBITED TO THE PUBLIC TRUSTEE IN ORDER TO RELEASE A DEED OF TRUST SECURING THIS NOTE. The printed q~r,ions of This form approved M tde ('olorada Neal Fstale l'ommission 1711 72•tl-N t, IF TIIIti FORM Iti UtiF.[) IN A CONtiUMFN CRF:UIT TRANtiACTION, CONSUI T LF.GAI. COUNtiFa.. THIS IS A LEGAL INSTRUMENT. IF NOT UNDERSTOOD, LEGAL, TAX OR OTHER COUNSEL SHOULD BE CONSULTED BEFORE SIGNING. DEED OF TRUST (Due on Transfer -Strict) THIS DEED OF TRUST is made this day of , 19 , between the Town ~f Vail (Borrower), whose address is 75 South Frontaee Road. Vail. Colorado 81657 and the Public Trustee of the County in which the Property (see paragraph I) is situated (Trustee); for the benefit of Dixon Keyser and Lucille Keyser (Lender), whose address is Borrower and Lender covenant and agree as follows: I. Property in Trust. Borrower, in consideration of the indebtedness herein recited and the trust herein created, hereby grants and conveys to Truster in trust, with power of sole, the lullowing described property located in the County of F.ao1 a , State of Colorado: Lots 1 and 3, Block H, Vail das Schone Filing 2 which has the address of 2497 and 2485 Garmish Drive IStrectl ' Vail ,Colorado 81657 ~c~pt Izip coati (Property Address), together with all its appurtenances (Property). - 2. Note; Other Obligations Secured. This Deed of Trust is given to secure to Lender: A. the repayment of the indebtedness evidenced by Borrower's note (Note) dated July 5 . Iy 90 , in the principal sum of eiehty-seven thousand two hundred and no/ 100 ($87.200.00) U.S. Dollars, with interest un the unpaid principal balance from July 5 , (q 90 ,until paid, at the rate of 8 percent per annum; with principal and interest payable at or such other place as the Lcndrr may designate, in three payments of See payment schedule attached as Exhibit A Dollars (U.S. $ )due on the S*h day of each Jul_v beginning July 5 , ly 90 ;such payments to continue until the entire indebtedness evidenced by said Nute is fully paid; however, if not sooner paid, the entire principal amount outstanding and accrued interest thereon, shall be due and payable un July 5 , ly 93 ; For additional provisions, see Exhibit B attached and incorporated herein by reference and Borrower is to pay to Lender a late charge of 18 % of any payment not received by the Lender within 1 5 days after payment is due; and Burtower has the right to prepay the principal amounCOUtstanding under said Note, in whole or in part, at any time without penalty except None B. the payment of all other sums, with interest thereon at NSA % per annum, disbursed by Lender in accordance with this Deed of Trust to protect the security of this Deed of Ttvst; and C. the performance of the covenants and agreements of Borrower herein contained. 3. Title. Bortuwer covenants that Bortower owns and has the right to grant and convey the Property, and wartants title to the same, subject to general real estate taxes for the curtent year, easements of record or in existence, and recorded declarations, restrictions. reservations and covenants, if' any, as of this date and except None a. Payn)ent ul' Principal and Interest. Borrower shall promptly pay when due the principal of and interest on the indebtedness evidenced by the Note, and late charges as provided in the Note and shall perform all of Borrower's othercuvenants contained in the Note. 5. Application of Payments. All payments received by Lender under the terms hereof shall be applied by Lender first in payment of anu,unts due pursuant to paragraph 23 (Escrow Funds fur Taxes and Insurance), then to amounts disbursed by Lender pursuant to paragraph 9 (Protection of Lender's Security), and the balance in acconlance with the terms and conditions of the Note. No. TD 72-11-83. COMPUTER. DEED OF TRUST (DUE ON TRANSFER-STRICT) -THE C. F. HOECKEL GO., DENVER 6. Prior Mortgages and Deeds of Trust; Charges; Liens. &~rnnver shall pcrlirnm all of Borrower's obligations under any prior decd of trust and any other prior liens. Born~wcr shall pay all taxes, assessments and other charges, tines and impositions attributable to the Property which may have or attain a priority over this Decd of Trust, and leasehold paynuunts or ground rents, if any, in the manner set out in paragraph 23 (Escrow Funds fix Taxes and Insurance) or, if not reyuircd w be paid in such manner, by Burrower making payment aficn due. directly Io the payee thereof. Despite the tixrgoing, Borrower shall not be reyuircd hi make payments othcrwisc reyuircd by this paragraph if Burrower, after notice to Lcndcr, shall in good faith contest such obligation hy, ur defend enlixcement of such obligation in. Icgal proceedings which operate w prevent the enlixcenunt of the obligation or lixfciturc of the Property or any part thereof, only upon Borrower making all such contested paynunts and other payments as ordered by the court to the registry of the court in which such proceedings arc filed. 7. Property Insurarnc. Borrower shall keep the improvements nc»v existing ur hcrcaftcr erected on the Pr<perty insured against loss by fire ur hazards included within the tcnn "extended coverage" in an anwunt al (cast equal to the lesser of (I the insurable value of the Property or (2) an anwunt sullicient to pay the sums secured by this Decd of Trust as well as any prior encumbrances on the Property. All of the tixeguing shall be known as "Property Insurance". The insurance carrier providing the insurance shall be qualified to write Property Insurance in Colorado and shall be chosen by Borrower subject to Lender's right to reject the chosen carrier fix reasonable cause. All insurance policies and renewals thereof shall include a standard nuxtgagc clause in favor of Lcndcr, and shall pnrvidr that the insurance rcrricr shall notify I~nder at least ten (I(1) days hclixc canccllatian. tcnnination ur any ntatcrial change ul coverage. Insurance policies shall be furnished to Lcndcr at or before closing. Lcndcr shall have the right to hold the policies and renewals thereof'. In the event of loss. Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrvwer. Insurance proceeds shall be applied to restoration or repair of the Property damaged, provided such restoration or repair is economically feasible and the security of this Deed of Trust is not thereby impaired. If such restoration or repair is not economically feasible or if the security of this Deed of Trust would be impaired, the insurance proceeds shall be applied to the sums secured by this Decd of Trust, with the excess, if any, paid to Burrower. If the Property is abandoned by Borrcnver, or if Borrower fails to respond to Lender within ~Q Jays from the date notice is given in accordance with paragraph 16 (Notice) by Lender to Borrower that the insurance carrier otters to seulc a claim fix insurance benefits, Lcndcr is authorized to collect and apply the insurance proceeds, at Lender's option, either kr restoration or repair of the Property or to the sums secured by this Uccd of Trust. Any such application of proceeds to principal shall not extend or postpone the due date of the installments referred to in paragraphs 4 (Payment of Principal and Interest) and 23 (Escrow Funds for Taxes and Insurance) ur change the amount of such installments. Nvtwithswnding anything herein tv the contrary, if under paragraph 18 (Acceleration; Foreclosure; Other Remedies) the Property is acquired by Lender, all right, title and interest of Borrower m and to any insurance policies and in and to the proceeds thereof resulting from damage to the Property prior to the sale or acquisition shall pass to Lender to the extent of the sums secured;by this Deed of Trust immediately prior to such sale or acquisition. All of the rights of Borrower and Lender hereunder with respect to insurance carriers, insurance policies and insurance proceeds are subject to the rights of any holder of a prior deed of trust with respect to said insurance carriers, policies and proceeds. 8. Preservation and Maintenance of Property. Burrower shall keep the Property in good repair and shall not commit waste or permit impairment or deterioration of the Property and shall comply with the provisions of any lease if this Deed of Trust is on a leasehold. Borrvwer shall perform all of Borrower's obligations under any declarations, covenants, by-laws, rules, or other documents governing the use, ownership yr occupancy of the Property. 9. Protection of Lender's Security. Except when Borrower has exercised Borrower's rights under paragraph 6 above, if the Burrower fails to perform the covenants and agreements contained in this Deed of Trust, yr if a default occurs in a prior lien, or if any action or proceeding is commenced which materially affects Lender's interest in the Property, then Lender, at Lender's option, with notice to Borrower rf required by law, may make such appearances, disburse such sums and take such action as is necessary to protect Lender's interest, including, but not limited to, disbursement of reasonable attorney's fees and entry upon the Property to make repairs. Borrower hereby assigns tv Lender any right Borrower may have by reason of any prior encumbrance on the Property yr by law or otherwise to cure any default under said prior encumbrance. Any amounts disbursed by Lender pursuant to this paragraph 9, with interest thereon, shall become additional indebtedness of Borrower secured by this Deed of Trust. Such amounts shall be payable upon notice from Lender to Borrower requesting payment thereof, and Lender may bring suit to collect any amounts so disbursed plus interest specified in paragraph 2B (Note; Other Obligations Secured). Nothing contained in this paragraph 9 shall require Lender to incur any expense or take any action hereunder. 10. Inspection. Lender may make or cause to be made reasonable entries upon and inspection of the Property, provided that Lender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lender's interest in the Property. ll. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with any con- demnation or other taking of the Property, or part thereof, or for conveyance in lie4 of condemnation, are hereby assigned and shall be paid to Lender as herein prvvided. However, all of the rights of Borrower and Lender hereunder with respect to such proceeds are subject to the rights of any holder of a prior deed of trust. In the event of a total taking of the Property, the proceeds shall be applied to the sums secured by this Deed of Trost, with the excess, if any, paid to Borrower In the event of a partial taking of the Property, the proceeds remaining after taking out any part o(the award due any prior lien holder (net award) shall be divided between Lender and Borrower, in the same ratio as the amount of the sums secured by this Deed of Trust immediately prior to the date of taking bears to Borrower's equity in the Property immediately prior to the date of taking. Borrower's equity in the Property means the, fair market value of the Property less the amount of sums secured by both this Dced of Trust and all prior liens (except taxes) that are to receive any of the award, all at the value immediately prior to the date of taking. If the Property is abandoned by Borrower, or if, after notice by Lender to Borrvwer that the condemnor offers to make an award or settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date such notice is given, Lender is authorized to collect and apply the proceeds, at Lender's option, either to restoration or repair of the Property or to the sums secured by this Deed of Trust. Any such application of proceeds to principal shall not extend or postpone the due date of the installments referred to in paragraphs 4 (Payment of Principal and Interest) and 23 (Escrow Funds for Taxes and Insurance) nor change the amount of such installments. 12. Borrower Not Released. L:xlcnsion of the time fix payment ur nuxlilication of amorlirativn of Qrc sums secured by this Uccd of Trust granted by Lcndcr w any successor in interest of Borrower shall not operate to release, in any manner, the liability of the original Burrower, our Borrower's successors in interest, from the original terms of this Uccd of Trust. Lcndcr shall not be reyuircd to commence proceedings against such successor ur refuse lu extend time fur payment or othcrwisc modify anwrtizatiun of the sums secured by this Deed of Trust by reason of any demand made by the original Burrower our Borrower's successors in interest. 13. Forbearance by Lender Not a Waiver. Any forbearance by Lender in exercising any right or remedy hereunder, or otherwise afforded by law, shall not be a waiver or preclude the exercise of any such right or remedy. 14. Remedies Cumulative. Each remedy prvvided in the Note and this Deed of Trust is distinct (rum and cumulative to all other rights or remedies under the Note and this Deed of Trust or afforded by law or equity, and may be exercised concurrently, independently or successively. I5. Successors and Assigns Bound; Joint and Several Liability; Captions. The covenants and agreements herein contained shall bind, and the rights hereunder shall inure to, the respective successors and assigns of Lender and Borrower, subject to the provisions of paragraph 24 (Transfer of the Property; Assumption). All covenants and agreements of Borrower shall be joint and several. The captions and headings of the paragraphs in this Deed of Trust are for convenience only and are nut to be used to interpret or define the provisions hereof. 16. Notice. Except for any notice reyuircd by law to be given in another manner, (a) any notice tv Borrower provided for in this Deed of Trust shall be in writing and shall be given and be effective upon (I) delivery to Burrower or (2) mailing such notice byfirst-class U.S. mail, addressed to Borrower at Borrower's address stated herein or at such other address as Borrower may designate by notice to Lender as provided herein, and (b) any notice to Lender shall be in writing and shat l be given and be effective upon (il) delivery to Lender or (2) mailing such notice by tint-class U.S. mail, to Lender's address stated herein or to such other address as Lender may designate by notice tv Borrower as prvvided herein. Any notice provided for in this Decd of Trust shall be deemed to have been given to Borrvwer or Lender when given in any manner designated herein. 17. Governing Law; Sevcrability. The Notc and this Decd of Trust shall be governed by the law of Colorado; In the event that any provision or clause of this Deed of Trust or the Note conflicts with the law, such conflict shall not affect other provisions of this Deed of Trust or the Note which can be given effect without the conflicting provision, and to this end the provisions of the Deed of Trust and Note are declared to be severable. ' I 18. Acceleration; Foreclosure; Other Remedies. Except as provided in paragraph 24 (Transfer of the Property; Assumption), upon Borrower's breach of any covenant or agreement of Borrower in this Deed of Trust, ur upon any default in a pnor lien upon the Property, (unless Borrower has exercised Borrower's rights under paragraph 6 about), at Lender's option, all of the sums secured by this Deed of Trust shell be immediately due and payable (Acceleration). To exercise this option, Lender may invoke the puwcrof salt and any other remedies permitted by law. Lender shall be entitled to collect all reasonable costs and expenses incurred in pursuing the remedies provided in this Dced of Trust, including, but not limited tu, reasonable attomey's fees. If Linder invokes the power of sale, Lcndcr shall give written notice to Trustee of such election. Trustcc shall give such notice to Borrower of Borrower's rights as is provided bylaw. Trustcc shall record a copy of such notice as required by law. Trustcc shall advertise the time and place of the sale of the Property, for not Tess than four weeks in a newspaper of general circulation +n each county in which the Property is situated, and shall mail copies of such notice of sale to Burrower and other persons as prescribed by law. After the lapse of such time as may be rcyuired by law, Trustcc, without demand on Borrower, shall sell the Property at public auction to the highest bidder for cash et the time and place (which may be on the Property or any part thcrcof as permitted by law) in one or more parcel as Trustee may think best and in such order as 1Yustcc may determine. Lcndcr or Lender's designee may purchase the Property et any sale. It shall not br obligatory upon the purchaser at any such sale to see to the application of the purchase money. Trustcc shall apply the proceeds of the sale in the following order. (a) to all reasonable costs and expenses of the sale, including, but not limited to, reasonable Trustee's and attorney's fees and costs of title evidence; (b) to all sums secured by this Dced of Trust; and Ic) the excess, if any, to the person or persons legally entitled thereto. 19. Borrower's Right to Cure Default. Whenever foreclosure is commenced for nonpayment of any sums due hcrcundcr, the owners of the Property or parties liable hereon shall be entitled to cure said defaults by paying all dclinyuent principal and interest payments due as of the date of cure, costs, expenses, late charges, attorney's fees and other fees all in the manner provided by law. Upon such payment, this Deed of Trust and the obligations secured hereby shall remain in full force and effect as though no Acceleration had occurred, and the foreclosure proceedings shat) he discontinued. 20. Assignment of Rents; Appointment of Receiver; Lcndcr in Possession. As additional security hcrcundcr, Borrower hereby assigns to Lender the rents of the Property; however, Borrower shall, prior to Acceleration under paragraph l8 (Acceleration; Foreclosure; Other Remedies) or abandonment of the Property, have the right to collect and retain such rents as they become due and payable. Lender or the holder of the Trustee's certificate of purchase shall be entitled to a receiver for the Property after Acceleration under paragraph 18 (Acceleration; Foreclosure; Other Remedies), and shall also he so entitled during the hme covered by fi~reclosure proceedings and the period of redemption, if any; and shall be entitled thereto as a matter of right without regard to the solvency or insolvency of Borrower or of the then owner of the Property, and without regard to the value thereof. Such receiver may be appointed by any Court of competent jurisdiction upon ex pane application and without notice -notice being hereby expressly waived. Upon Acceleration under paragraph I8 (Acceleration; Foreclosure; Other Remedies) or abandonment of the Property, Lender, in person, by agent or byjudicially-appointed receiver, shall be entitled to enter upon, take possession of and manage the Property and to collect the rents of the Property including (hose past due. All rents collected by Lender or the receiver shall be applied, first, to payment of the costs of preservation and management of the Property, second, to payments due upon prior liens, and then to the sums secured by this Dced of Trust. Lcndcr and the receiver shall be liable to account only li>r those rents actually received. 21. Release. Upon payment of all sums secured by this Drcd of Trust, Lcndcr shall cause Trustcc hl release this Dccd of Trust and shall produce tier Truster the Nate. Borrower shall pay all costs of recordation and shall pay the statutory t'rustee's fees. If Lcndcr shall not produce the Note as aforesaid, then Lender, upon notice in accordance with paragraph t6 (Notice) from Burrower to Lender, shall obtain, at Lender's expense, and file any lost instrument bond reyuircd by Trustcc or pay the cost thcrcof to effect the release of this Dccd of Trust. 22. Waiverof Exemptions. Borrower hereby waives all right of homestead and any other exemption in the Property under state or federal law presently existing or hereafter enacted. 23. Escrow Funds for Taxes and Insurance. This paragraph 23 is not applicable if Funds as defined below arc being paid pursuant to a prior encumbrance. Subject to applicable law, Borrower shall pay to Lender.on each day installments of principal and interest are payable under the Note, until the Note is paid in full, a sum (herein referred to as "Funds") eyual to N/A of the yearly taxes and assessments which may attain priority over this DccJ of Trust, plus NSA of yearly premium installments for Property tnsurancc;all as reasonably estimated initially and from time to time by Lender on the basis of assessments and bills and reasonable estimates thereof, taking into account any excess Funds not used or shortages. The principal of the Funds shall be held in a separate account by the Lender in trust for the benefit of the Borrower and deposited in an institution the deposits or accounts of which are insured or guaranteed by a federal or state agency. Lender shall apply the Funds to pay said taxes, assessments and insurance premiums. Lender may not charge for so holding and applying the Funds, analyzing said account or verifying and compiling said assessments and bills. Lcndcr shall not be required to pay Borrower any interest or earnings on the Funds. Lender shall give to Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds and the purpose for which each debit to the Funds was made. The Funds arc pledged as additional security li+r the sums secured by this Dced of '('rust. If the amount of the Funds held by Lender shall not be sufficient to pay taxes, assessments and insurance premiums as they fall due, Borrower shall pay to Lender any amount necessary to make up the deficiency within 30 days from the date notice is given in accordance with paragraph 16 (Notice) by Lender to Borrower requesting payment thereof. Upon payment in full of all sums secured by this Deed of Trust, Lender shall simultaneously refund to Borrower any Funds held by Lender. if under paragraph 18 (Acceleration; Foreclosure; Uther Remedies) the Property is sold or the Property is otherwise acquired by Lender, Lender shall apply, no later than immediately prior to the sale of the Property or its acquisition by Lender, whicheveroccursficst, any Funds held by Lender at the time of application as a credit against the sums secured by this Deed of Trust. 24. Transfer of the Property: Assumption. The following events shall be referred to herein as a "Transfer": (i) a transfer or conveyance of title (or any portion thereof, Icgal or equitable) of the Property (or any part thcrcof or interest therein), (ii) the execution of a contract or agreement creating a right to title (or any portion thereof. Icgal or equitable) in the Property (or any part thereof or interest therein). (iii) or an agreement granting a possessory right in the Property (ur any portion thcrcof), in excess of three (3) years, (iv) a sale or transfer of. or the execution of a contract or agreement creating a tight to acquire or receive, more than fifty percent (SOc7~) of the controlling interest or more than fifty percent (50~I) of the beneficial interest in the Borrower, (v) the reorganization, liquidation or dissolution of the Borrower. Not to be included as a Transfer arc (i) the creation of a lien or encumbrance subordinate to this Decd of Trust. (ii 1 the creation of a purchase money security interest for household appliances, ur (iii) a transfer by devise, descent or by operation of the law upon the death of a joint tenant. At the election of Lcndcr. in the event of each and curry Transfer: (a) All sums secured by this Deed of Trust shall become immediately due and payable (Acceleration). (h) If a Transfer occurs and should Lcndcr not exercise Lender's option pursuant to this paragraph 24 to Accelerate, Transferee shall be domed to have assumed all of the obligations of Borrower under This Dccd of Trust including all sums secured hereby whrlher ur not the instrument evidencing such conveyance, contract or grant expressly so provides. This convenunt shall run with, the Property and remain in full force and effect until said sums are paid in full. 7~he Lender may without notice to the Borrower dea{ with Transferee in the same manner as with the Borrower with reference to said sums including the payment or credit to Transferee of undisbursed reserve Funds on payment in full of said sums, without in any way altering or discharging the Borrower's liability hereunder for the obligations hereby sec aced. (c) Should Lender not elect to Accelerate upon the occurrence of such Transfer then, subject to (b) above, the mere fact of a lapse of time or the acceptance of payment subsequent to any of such events, whether or not Lender had actual or constructive notice of such Transfer, shall not be deemed a waiver of Lender's right to make such election nor shall Lender be estopped therefrom by virtue thereof. The issuance nn behell of the Lender of a routine statement showing the status of the loan, whether or not Lender had actual or constructive notice of such Transfer, shall not be a waiver or estoppel of Lender's said rights. 25. Borrower's Copy. Borrower acknowledges receipt of a copy of the Note and this Deed of Trust. Continued on reverse side. i Y EXECUTED BY BORROWER. , IF BORROWER IS NATURAL PERSON(S): doing business as IF BORROWER IS CORPORATION: ATTEST: Name of Crmpnauun $ecrnary by President ~ (SEAL) IF BORROWER IS PARTNERSHIP: Nano of Parmenhip b y A General Farmer i STATE OF COLORADO ss. , BOUNTY OF The foregoing instrument was acknowledged before me this day of , 19 , by* Witness my hand and official seal. My commission expires: Notary Public , AJJress i "If a natural person or ptrsom. inxn the wmetsl of such pcrsunlsl. If n corp,xation. insert. I'or example.'7ohn [ht us Prceidem anJ lane nix a~ $l'Crelar) UI Ulk ~ Qr.. a CrllOfadO cUrpl,ral WO.'~ If a partnership. insert. for example. "Sam Sm~lh as general partner in and fur Smith R Smith. a general punncrship." I I ~ O G ~ W U H 'p CC• T rw^. Rt d l al ~ ( z. N C 3 k. 0 Y a u Mt(ry ~ O ~ c O Q c v W a E ~ IY rrTT ~ O u ? a F Iv W U ° b B IFr+~ O F v u A ~w F v W ~ W z w w _ o I x T~ A u ~ ~ z° ~ F E o E L l% m' EXHIBIT A The payment schedule for the promissory note shall be as follows: a) July 5, 1991 $29,066.67 Principal 6,976.00 Interest TOTAL 36,042.67 Balance Remaining $58,133.33 b) July 5, 1992 $29,066.67 Principal 4,650.67 Interest TOTAL 29,066.66 Balance Remaining $29,066.66 c) July 5, 1993 $29,066.66 Principal 2,325.33 Interest TOTAL 31,391.99 Balance Remaining $ -0- EXHIBIT B TO THE DEED OF TRUST DATED 1990 BETWEEN TOWN OF VAIL, COLORADO ("BORROWER") AND THE PUBLIC TRUSTEE OF EAGLE COUNTY, STATE OF COLORADO, FOR THE BENEFIT OF DIXON KEYSER AND LUCILLE KEYSER ("LENDER") In the event of a conflict or inconsistency between the printed terms of_the Bradford-Robinson Form No. TD72-11-83 "Deed of Trust" of which this Exhibit B is a part and the typewritten terms of this Exhibit B, the terrris of this Exhibit B shall control. ARTICLE I LIMITATION OF BORROWER'S LIABILITY Borrower shall have no liability under this Deed of Trust or the Note secured hereby or other instruments securing the Note for the payrrient of principal or interest or the performance of any of the other obligations and liabilities set forth therein, it being expressly understood that the execution of this Deed of Trust by Borrower is for the sole purpose of evidencing the continuing indebtedness created hereby subject to the annual appropriations by Borrower, andlthat in the event of a default hereunder, or under the Note or other instruments securing the Note, the sole remedy of the Lender shall be through an action against the Property. ARTICLE II PARTIAL RELEASES Section 2.1. R~ci ht to Partial Release. Borrower shall be entitled to partial releases of the lien created by this Deed of Trust (a "Partial Release") from the Lender from time to time as set forth in this Article. Section 2.2. Repuest for Partial Release. Each request for a Partial Release shall be delivered to Lender. Each request for a Partial Release shall specify the number of square feet to be released and the manner in which the Release Price has been paid. Lender, at its sole discretion, shall determine the location of the square feet to be released. Lender shall obtain, at Borrower's expense, a survey made by a registered Colorado land surveyor with the legal description of the land and a certified calculation of square footage. Upon delivery to Lender of a request for a Partial Release together with all required supporting documentation, Lender shall, unless it reasonably believes that the Release Price has not in fact been paid in full: i. Within five days after receipt of the documents listed above, execute and deliver to the Public Trustee of Eagle County, Colorado ("Public~Trustee") a Partial Release in the form requested by Borrower; and ii. Cause the Note and this Deed of Trust to be displayed to the Public Trustee, if necessary, in order to secure the execution and recording of the Partial Release by the Public Trustee. Notwithstanding the foregoing, Lender may also execute requests for Partial Releases and deliver them to the Public Trustee if Lender so desires: Any Partial Release recorded hereunder shall contain a provision stating that the real property so released remains subject to Lender's option to repurchase as stated in Article 3 and certain limitations on use and transfer as set forth in Article VIII. Section 2.3. Disolav of Instruments. Lender, for itself, its heirs, successors and assigns, hereby agrees that the Note and Deed of Trust need not be displayed to the Public Trustee in order to secure recording of a Partial Release, and authorizes the Public Trustee to execute and record a Partial Release if signed by Lender. Section 2.4. Release Price. Borrower shall be entitled to a Partial Release of fifteen percent (15°~) or more of the Property upon payment of the'"Release Price" in the amount equal to the Purchase Price paid by Borrower for the Property ($109,000.00). Section 2.5. Credit of Prepayment. Borrower shall be entitled to a credit against the Release Price for all payments of principal on the Note which have not previously been applied in order to obtain a Partial Release. The cash down payment and earnest money deposit of $21,800.00 previously paid by Purchaser for the Property shall be credited against the payment of the Release Price. No amount paid as interest on the Note shall be credited against the Release Price. Section 2.6. Expenses. All reasonable out-of-pocket expenses incurred by Lender in preparing and recording Partial Releases shall be paid by Borrower, including but not limited to, survey expenses, legal fees, and recording costs. ARTICLE III OPTION TO REPURCHASE; ZONING At any time within six months after Lender recovers fee title to the Property or any portion thereof as a result of foreclosure of this Deed of Trust, a deed in lieu thereof, or otherwise, Lender shall have the right to repurchase from Borrower any portion or all of the Property previously released from the lien of this Deed of Trust pursuant to Article II upon the payment to Borrower of a sum per acre equal to $109,000.00 divided by the total number of square feet of the Property for each acre to be repurchased. This option shall be exercised by written notice from Lender to Borrower. The purchase price shall be paid in cash or certified funds within thirty days after the delivery of notice by Lender to Borrower exercising this option to repurchase. Upon the payment of the purchase price, Borrower shall convey the Property or any portion thereof so repurchased to Lender by general warranty deed free and clear of all liens and encumbrances except for easements, covenants, restrictions, reservations, and rights-of-way of record as of the date of this Deed of Trust. Borrower shall also cause to be provided to Lender (and shall pay the premium thereon), a title insurance commitment and policy insuring fee simple title in Lender subject only to the exceptions permitted as set forth above. This transfer shall either be exempt from the Vail Real Estate Transfer Tax or shall be paid by the Borrower. Borrower shall pay all costs and expenses related to the transfer of the Property pursuant to this section, and taxes, insurance, utilities, and all other such items shall be equitably prorated between the parties at the time of the payment of the purchase price. ARTICLE IV COMPLIANCE WITH LAW During the term of this Deed of Trust, Borrower shall comply with all requirements of law with respect to the Property and the use thereof, including, but not limited to, municipal ordinances, building and zoning regulations and restrictions and covenants of record. ARTICLE V MECHANICS' OR OTHER LIENS Borrower shall not permit or suffer any mechanic's, laborer's, materialman's, statutory or other lien (other than any lien for taxes not yet due) to be created upon the Property unless the same are bonded or insured against by a title insurance company satisfactory to Lender. ARTICLE VI UTILITY CHARGES Borrower shall pay when due all utility charges, including gas, electricity, water or sewer services furnished to the Property and all other assessments or charges of a similar nature. ARTICLE VII INSPECTIONS Lender or its agents, may enter at any reasonable time upon the Property for the purpose of inspecting the same and for the purpose of performing any act it is authorized to perform under the terms of this Deed of Trust or the Note it secures. -2- ARTICLE VIII TRANSFER OF PROPERTY ~ During the term of this Deed of Trust, Borrower shall not sell,iconvey, transfer, further encumber, grant easements over, on, or across or otherwise dispose of the Property or any portion thereof or any interest therein, whether legal or equitable, and whether voluntary or involuntary, including any portion of the Property which has been released from the lien of this Deed of Trust without the prior written consent of the Lender. ARTICLE IX PRESERVATION OF PROPERTY If Borrower fails to make any payment or do any act required by,~this Deed of Trust or the Note or by any prior encumbrance, lien, reservation, restriction, condition, or covenant affecting the Property, then Lender may, without obligation or notice, make any payment or do any act to the extent necessary tolprotect the Property. In so doing, Borrower shall not be released from any obligation created under this Deed of Trust. Any payments made by Lender and the costs~,and expenses, including attorneys' fees, incurred by Lender by doing any act as provided in this Article shall become additional principal under the Note, secured byjthis Deed of Trust, and shall bear interest at the rate of the greater of 18°k or four (4) percentage points above the Prime Rate, and shall be immediately due, and payable from Borrower to Lender. ~ ARTICLE X NOTICE All notices provided hereunder shall be in writing and shall be',deemed given when personally delivered, or when deposited in the United States mail, postage prepaid, registered or certified mail, return receipt requested, addressed to the applicable party as follows, or at such other address as shall be designated by such party by written notice to the other party: If to Borrower, addressed to: Town Manager ~ Town of Vail 75 South Frontage Road Vail, Colorado 81657 ' If to Lender, addressed to: I Dixon and Lucille Keyser ARTICLE XI GENERAL ~ Section 11.1. Future Consent. The granting of consent by Lend',er to any transaction as required by the terms hereunder shall not be deemed al waiver of the right to require consent to future or successive transactions. Section 11.2. Waiver. No waiver of any event of default hereunder shall extend to or affect any subsequent or any other event of default them existing or impair any rights, powers or remedies consequent thereon. i Section 11.3. Severability. In the event any one or more of the provisions contained in this Deed of Trust shall for any reason be held to be invalid, illegal, or unenforceable in any respect, such invalidity, illegality, or une;nforceability shall not affect any other provision of this Deed of Trust, but this; Deed of Trust shall be construed as if such invalid, illegal, or unenforceable provision had never been contained herein. j Section 11.4. Successors and Assigns. This Deed of Trust shaljl be binding upon the heirs, successors and assigns of the respective parties hereto. i _3_ Section 11.5. Governing Law. This Deed of Trust shall be construed, enforced and governed in accordance with the laws of the State of Colorado. Section 11.6. Gender. As used herein, the singular shall include the plural, the plural includes the singular, words of one gender shall include another gender. Section 11.7. Amendment. This Deed of Trust shall be amended only by an instrument in writing signed by the party against whom enforcement is sought. However, in the event any provision hereunder conflicts with the applicable laws, such provision shall be deemed to conform thereto. BORROWER: ATTEST: TOWN OF VAIL, COLORADO, a Colorado municipal corporation By: Pamela A. Brandmeyer, Town Clerk Rondall V. Phillips, Town Manager LENDER: LENDER: Dixon Keyser Lucille Keyser I -4-