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HomeMy WebLinkAbout1993-05-11 Support Documentation Town Council Work Session VAIL TOWN COUNCIL ! WORK SESSION TUESDAY, MAY 11, 1993 i 2:00 P.M. IN TOV COUNCIL CHAMBERS AGENDA 1. Discussion of Vail Valley Performing Arts and Conference Center. 2. Discussion regarding Town of Vail/Slosky & Company Agreement regarding Analysis of Wells at Old Town Shop. 3. Discussion regarding Lionshead Center Parking Fee Waiver. 4. Discussion of the Future of Recycling in Vail. 5. Discussion of Pros and Cons of Alternative Locations for the Recycling Center. 6. Discussion regarding allowing cold air balloons during Ride the Rockies. 7. DRB Report. 8. PEC Report. 9. Information Update. 10. Council Reports. 11. Other. 12. Adjournment. THE NEXT VAIL TOWN COUNCIL OVERVIEW WORK SESSION WILL BE ON TUESDAY, 5/18/93, BEGINNING AT 6:30 P.M. IN TOV COUNCIL CHAMBERS. THE NEXT VAIL TOWN GOUNCIL EVENING MEETING WILL BE ON TUESDAY, 5/18/93, BEGINNING AT 7:30 P.M. IN TOV COUNCIL CHAMBERS. VAIL T0IIVIV COUNCIL WORK SESSION TUESDAY, MAY 11, 1993 2:00 P.M. IN TOV COUNCIL CHAMBERS EXPANDED AGENDA 02:00 P.M. 1. Discussion re: Vail Valley Performing Arts and Conference Center Caroline Tremblay Cliff Gardiner Action Reauested of Council: Approval of Resolution of financial package for construction of Performing Arts and Conference Center. Backaround Rationale: 02:45 p.m. 2. Discussion re: Town of Vail/Slosky & Company Agreement regarding Larry Eskwith Analysis of Wells at Old Town Shop. Action Reauested of Council: Approve contract. Backaround Rationale: Contract is for testing Old Town Shop well sites for contamination. Much of the work has already been done by Slosky. 03:00 P.M. 3. Discussion re: Lionshead Center Parking Fee Waiver. Andy Knudtsen Action Reauested of Council: Review request by Charlie Crowley to have the Town waive a portion or all of the parking fee that will be assessed for the commercial expansion to Lionshead Center. The area of the expansion is approximately 3925 square feet and requires 13.1 parking spaces. At $8000.00 per space, the fee will be approximately $104,800. 03:30 P.M. 4. Discussion re: the Future of Recycling in Vail. Susan Scanlan Action Reauested of Council: None, this item is being presented at Council's request. Backaround Rationale: At the Council work session on April 13, 1993, during a discussion with Mauri Nottingham, Merv Lapin suggested BFI and the Honey Wagon be invited to a work session to discuss current and future recycling in Vail. Staff has contacted both entities and invited them to be present at this work session. Staff Recommendation: None 04:00 P.M. 5. Discussion re: Pros and Cons of Alternative Locations for the Recycling Susan Scanlan Center. Action Reauested of Council: Provide direction to Staff concerning further investigation of any or all of the alternative locations proposed for relocation of the recycling center. Backaround Rationale: We Recycle is currently operating from the loading dock of the Municipal Building Annex. There has been discussion of finding an alternate location to allow the existing space to be used to meet parking needs and as a storage facility. The staff has briefly examined two alternate locations as well as discussing the benefits of staying at its present location. r Staff Recommendation: Staff recommendation at this time, based on economic considerations, would be to allow the recycling center to remain at its present location and relocate several of the storage containers to the Old Town shops which would provide 17 parking spaces. The next best alternative would be to relocate the entire operation to the Old Town Shops. 04:20 P.M. 6. Discussion re: allowing cold air balloons during Ride the Rockies. Pam Brandmeyer 04:30 P.M. 7. DRB Report. 04:40 P.M. 8. ~ PEC Report. 04:50 P.M. 9. Information Update. 05:00 P.M. 10. Council Reports. 11. Other. 12. Adjournment. THE NEXT VAIL TOWN COUNCIL OVERVIEW WORK SESSION WILL BE ON TUESDAY, 5/18/93, BEGINNING AT 6:30 P.M. IN TOV COUNCIL CHAMBERS. THE NEXT VAIL TOWN COUNCIL EVENING MEETING WILL BE ON TUESDAY, 5118/93, BEGINNING AT 7:30 P.M. IN TOV COUNCIL CHAMBERS. C:UIGENDA.WSE 5.~14~ Ukw^I VAIL VALL~;Y Pr;1cr~OK1VIANC~ CONr~~K~:NC~; Cr;NT~;K Our Vision A year round venue for the performing arts in the Vail Valley that meets our high standards of excellence A year round economy balanced by valley wide conference groups in Vail during the shoulder seasons Why do we need a conference center of this size in Vail? Do we really want more groups? In Summer, groups spend more than individuals for hotel rooms! Average Daily Rate NOV - APx MAY - OCT Individuals /Groups Individuals /Groups $185 $165 $73 $85 $196 $168 $73 $89 Yashiro Marketing & Advertising Research J ~'he Vision.. . * Meet the expectations of a highly educated & cultured resident population * Increase the variety of cultural attractions available in winter * Be known for our diversity ~ Create moderate development Provide a facility for community events * Enable continuous employment for our citizens in the service/hospitality business Histor y 1990 Wertheim Challenge Grant January Steering Committee formed March Jones & Phillips Research June Interviews with community members July- August Research submitted October Report studied & analized 1991 The Mathes Report completed January Other Committees formed April Finance, Design, Citizens Forum, Programming & Management Rr'!' for Architects & Contractors July TOV Business Licence Fee Survey July Vail Architects Collaborative fog ~~~ed Aug Public Meetings Sept- Oct Design Refined Nov 1993 Plan "B" submitted Jan Finance & Operating Costs for "B" Feb Plan "C" submitted Mar More research commissioned April Project Coordinator on board April . VAIL VALLEY PERFORMANCE & CONr~~REN~;>J CEN i ~R - Organization Structure PR0.TECT COOR.DINA.'I'OR ~ STRATEGIC PLANNING COMMI'1.1'r,r.; t ~ , CITIZENS VAIL ADVISORY - - - STEERING - - - TOWN COMMA i ¦ ~E COMMI i i ~E COUNCIL DESIGN PROGRAMMING FINANCE MANAGEMENT COMMI i i ~E COMMITTEE COMMI i i ~E COMMITTEE 4 D~;SIGN Plan A Plan B Plan C l~ovember January March 109, 600 SF 82, 200 SF 93, 700 SF $24, 037, 800 $19, 964, 800 $22, 022,100 PLAN "C" Performance 't'heater 18,900 SF Grand Ballroom 14,600 SF Conference Rooms 6,100 SF Public Space 26,570 SF Operations/Support 27,530 SF Total 93,700 SF Local Conference Space Conference Center 1,150 Banquet Radisson Resort 850 Banquet Hyatt/Village Hall 640 Banquet Westin Resort 570 Banquet LOCAL 't'HEA't'r;R SPACE Dobson Arena 2,500 Seats 750 Bleacher Seats Performance Center 950 Seats Ford Amphitheater 900 Seats Battle Mountain School 450 Seats Crossroads Theater 300 Seats Cascade Village Theater 270 Seats PLAN "C" Construction $15,292,100 Equipment $ 3, 857, 500 Design, Tests, Inspection & Owner Contingency ~a 5 % $ 2 }$72, 500 $22, 022,100 CONSiRUCrION COSrS Performance Center $12 million Conference Center $10 million Total $22 million 'TOTAL PROS LC' 1' COS' 1'S Construction Costs $22,000,000 Bond issuance/Reserve $ 1, 400, 000 Endowment Fund ~ x.000.000 Total $26, 400, 000 Performance Center Private Funds $17 Million Conference Center Revenue Bonds $10 Million Conference Center Annual Cost Debt Service $1,078,000 Group Marketing $ 400,000 Operating Deficit ~ 600.OOQ revenue needed $2,078,000 How will we raise $2, 078, 000 annually? ~ Business Licence Fees ~ 7/10 % Tourism Tax ~ S/10 % Lodging Tax How much money will each of these sources contribute? Conference Center Funding Business Licence Fees = $350, 000 7/ 10 % Tourism Tax = $1, 057, 000 8/10 % Lodging Tax = $~71~Q $2, 078, 000 In 1994 Dollars/Steve Barwick 't'own of Vail Business Licence r'ees $350,000 Straw poll of Vail Businesses July 1992 Are you in favor of a Performance & Conference Center? 72% YL~S 7/10 % 'TOURISM TAX * Attractions * Lodging * Restaurants * Rental Cars $1,057,000 in Revenue 8/10% LODGING TAX IN VAIL All hotels and condominium visits $671,000 in revenue At what lodging tax level do we become non competitive? Regionally and Nationally Current and Pro osed 'i,ax p Vail 8.2% 10.9% Beaver Creek 9.4% 10.6% Avon 12.2% 12.2% National Average for Major U. S. Cities 10.6% Hotel and Lodging Feb 1993 Separate Funding Mechanisms for Valley Wide Marketing and the Conference Center Valley Wide Marketing 1.2 % Lodging Tax in Vail $1, 007, 000 1.2% Lodging Assessment BC $344,000 Beaver Creek Resort Contribution Avon Lodging Tax Contribution $1,461,000 Proposed Tax on a hotel room in Vail Currently 8.2% New Tourism tax .7% New Lodging tax . conference center New Lodging tax 1.2 % valley wide marketing 10.9% Regional Lodging 'faxes Copper Mountain 8% Colorado Springs 8.6% Keystone Resort 10.4% Beaver Creek Resort 10.62% (proposed) Vail 10.9% (proposed) Grand Junction 10.95% Snowmass Resort 11.4% Denver 12. % Avon 12.2% Major U. S. Cities Lodging Tax Rates New York 21.25% Houston 15.25% Newport Beach 15. % Chicago 14.9% Seattle 14.2% Memphis 13.25% Cleveland 13.% Atlanta 13. % Dallas 13. % What are the lodging tax collections spent for? Meeting & Tourism related improvements or General Fund expenditures PERFORMANCE CEN1'~R Private Funding Goal: $16-17 Million total $S Million by mid Summer $12 Million by end of Fall PU1iLIC ~DUCA'1'ION Goal: Accurate and Informed Decision Makers TOWN COUNCIL ENDORSEMENT CONIMUNITY FORUMS INTEREST GROUP N~ETINGS LOCAL N1~DIA COVr;RAGE NEIGHBOR TO NEIGHBOR PROGRAMMING Performance Space Conference Space evaluate new research and local programming needs MANAG~M~N~i~ Determine management structure Evaluate Food & Beverage management proposals Analize cost estimates FALL 1993 Final L;valuation of r'easibility Private Fund Raising efforts Public Support of Tax Ammendments Make the decision to continue or stop. ~NDORS~M~NT Vote for approval of the finacial package & design concept. Maintain a public policy of support for the project. Support the ballot ammendments for tourism & lodging taxes. 1 k . t'. -1. ~ 1 ~rr~pasal for TOWN O F N A I L _ demand A~.alyss PerfOY r~~ng Arts/Conference tenter 1Vlurch 17, X943 J _I J 5~~~ RRC alsso~icues J i ~ RRC A S S O C I A T E S Research • Planning • Design March 17, 1993 Mr. Steve Barwick Town of Vail 75 South Frontage Road Vail, Colorado 81657 SUBJECT: PROPOSAL TO CONDUCT A PERFORMING ARTS/CONFERENCE CENTER FEASIBILITY STUDY FOR THE TOWN OF VAIL Dear Steve, ' On behalf of RRC Associates and Legg Mason Realty Group, Inc., we would like to submit this proposal for our firms, operating as a consultant team, to conduct a feasibility study for a performing arts/conference center under consideration for development in Vail. This proposal is submitted in accordance with the request for proposal issued by the Town of Vail and received by us in early March 1993, and is in effect for 60 days after receipt by the Town of Vail. 1 Our proposal is divided into seven major parts, including this letter of transmittal, which provides an overview of our respective firms, a synopsis of the approach that we plan to use in this study, and the strengths of our firms. The remaining sections of this proposal contain the scope of services and include an overview of the background to the study and its objectives, our approach and methodology, the work program we propose to carry out, and the administrative aspects of the study-schedule, staffing, and fee. Information is also provided on the capabilities of our firms and staff relevant to this assignment. We believe that this proposal is fully responsive to the Town's needs as expressed in the RFP. We ' intend to be flexible with regard to adapting to changes that the Town might wish to see in our proposal. ' CONSULTANT TEAM This proposal is being submitted by a team of experienced professional consulting firms. The lead ' firm is RRC Associates, a planning and research firm located in Boulder. RRC will have responsibility for managing the study and for conducting substantial amounts of the research and most of the analyses to be carried out in the work program. The firm of Legg Mason Realty Group, Inc. (LMRG) would subcontract to RRC. LMRG is a real estate and economic consulting firm based in Baltimore, Maryland. More detailed information on the proposing firms is set forth below. 4875 Pearl East Circle Suite 301 Boulder, Colorado 80301 (303) 449-6558 (303) 449-6587 FAX RRC ASSOCIATES RRC Associates is a Boulder based planning, research, and urban design fine with a long standing familiarity with city and regional issues as well as a national reputation and practice in the area of ' tourism-related research and strategic planning. The company is made up of a small group of professionals with extensive experience and qualifications in the problems and needs of communities. Our firm's small size permits RRC to offer a very personal level of services to our ' clients. The firm's principals, Chris Cares and Nolan Rosall, have experience as staff to municipalities and counties and, through extensive consulting work with a variety of communities, have learned the ' importance of seeking solutions to problems which are sensitive to local conditions and tailored to local needs. The firm emphasizes management techniques which assist the community and its leaders in finding unique solutions to carefully defined problems. This combination of local- and broad-based knowledge and experience makes RRC well-suited to manage the proposed performing arts/conference center feasibility study. LEGG MASON REALTY GROUP, INC. Legg Mason Realty Group, Inc. is a full service real estate consulting fire with amid-Atlantic presence and a national scope. The firm's clients benefit from Realty Group's experienced real estate and financial disciplines. LMRG's broad range of public- and pnvate-sector clients obtain professional services which include market research, appraisals and valuations, development 1 feasibility analysis, real estate asset evaluation, financial advisory services, and real estate development representation. LMRG also has extensive experience in `audience support facility" development and feasibility analyses. 1 The diverse experience of LMRG adds substantial value to the consultant team. LMRG will assist RRC in conducting a study which identifies and addresses the issues most important to the Vail ' community. ESSENCE OF OUR TEAM'S APPROACH The capabilities of the combined RRC and LMRG team provide excellent knowledge and competence with regard to audience support facilities in general and the Vail market context in particular. A community audience support facility, like the performing arts/conference center under consideration, must take into account activities occurring in the community that could potentially use it and existing facilities that currently serve activities. This local environment needs 1 to be placed within the context of national trends and overall market characteristics and demands. We recognize that Vail is concerned about the impact of such a facility on its community, such as visitor generation and support for various commercial visitors services. Our work program establishes a sound and complete research base, being analytically objective, and encompassing all relevant elements of local concern. STRENGTHS OF OUR TEAM Our team possesses the experience and analytical capabilities to meet the Town's needs with regard to determining the feasibility of developing such a facility. In summary, the strengths of our team ' and proposal are: • Feasibility Analysis Experience-The RRC/LMRG team and the key individuals who would be involved in this assignment have extensive experience conducting market and feasibility studies. This experience encompasses audience support facilities in similar sized communities, including extensive research in the visitor and tourist markets. • Combined Local and National Experience-LMRG and RRC are experienced in conducting studies of this nature in many different parts of the country. In addition, however, RRC has conducted a substantial amount of work for the Town of Vail and is especially sensitive to Vail ' Valley concerns and capabilities. We believe this is a unique, strong combination that will be beneficial to the study process. • Experience with Implementation-Many of the audience supportJpublic assembly facilities on which our key staff have worked are in operation. We have this knowledge to build on. We also have contacts which enable us to facilitate possible implementation of a performing arts/conference center complex in Vail, should it prove to be feasible. • Capability and Skill-Our firms are of a size and style that is client responsive and flexible. We have the corporate and professional staff resources needed to undertake an assignment of this complexity and importance. We are skilled at work of this nature and are able to look beyond the pure market work to understand the complexities of a major public investment of this nature. CONCLUSION ' The situation in Vail, with its multi-faceted and broad-based approach to major public decisions such as the performing arts/conference center, warrants a consultant team combining a strong local knowledge with a detached, outside perspective and expertise. We believe the team of RRC and LMRG possess the skills and experience necessary to perform the tasks required. We greatly appreciate the opportunity provided us to submit this proposal. We have assembled a strong team and a comprehensive response to the RFP. If there are any questions resulting from our proposal, we would be more than happy to try to answer them or to provide clarifications as needed. Our firms would be glad to participate in interviews of `short listed" firms, should there be a determination that interviews are appropriate. Respectfully, C ASSO IATES u~ Nolan L. Rosall, AICP 1 President PART 1: PROJECT ORGANIZATION I RRC Associates will serve as the lead consultant and LMRG as a subconsultant in the project. RRC's expertise in survey research, analytical capabilities, and history of work with the Town of Vail regarding public issues well qualify the firm to act as the prime consultant in the project. LMRG brings substantial relevant experience to the assignment, particularly in the area of economic decisions related to "audience support facilities" located in small to moderate size communities such as Vail. STUDY MANAGEMENT Nolan Rosall, Principal, will manage the consultant team. Mr. Rosall has been responsible for a wide range of tourism-related research and master planning for convention and visitors' authorities, ski resorts, and municipalities. He is also very familiar with Vail Valley issues through his previous work in the area on a variety of projects, including the Vail Mountain Master Plan and Environmental Assessment, Vail Village Redevelopment, Feasibility Analysis and Zoning Study, and survey research for Vail/Beaver Creek Resort ski areas. Mr. John Sherwood, III, Vice President of LMRG, will be the subconsultant on this project. Mr. Sherwood has extensive direct experience in studies of this nature, assisting communities in reaching decisions regarding development of conference/performing arts facilities. Recent assignments undertaken by Mr. Sherwood and LMRG that are particularly relevant to the proposed Vail facility include: Convention/Conference Center, Wilmington, DE; Civic Center/Conference Facility with Hotel, Champaign/Urbana, IL; Civic Center, Dover, DE; and Future Farmers of America Conference Center, Alexandria, VA. STAFFING 1 The stud will be staffed at a senior level. Mr. Chris Cares Princi al at RRC Associates Y ~ P , will assist Mr. Rosall in managing the project. Mr. Cares specializes in practical applications of research techniques including survey research and statistical and computer analysis for probelm solving. Specifically relevant to this project, Mr. Cares has extensive project experience in the Vail Valley, managing such local projects as Eagle County Housing Needs Assessment, VailBeaver Creek Resort Winter Quality Research, and the Arrowhead at Vail Master Plan. Other RRC team members include Angela Atkinson and Michael Simone, who will provide analytical and technical support for RRC Associates. Ms. Atkinson and Mr. Simone are both experienced in survey research in such communities as Vail, Steamboat Springs, and other ski resort towns. Both have also contributed to economic impact studies in resort communities, with Ms. Atkinson being familiar with Vail and Eagle County issues through her ongoing work with Vail Associates. PART 2: PROJECT WORK PLAN The work that will be performed by RRC Associates and Legg Mason Realty Group, Inc. in the economic analysis of the proposed performing arts/conference center is set forth below. I. STUDY BACKGROUND AND PURPOSE The Town of Vail has been studying the possibility of developing a performing arts/conference center for many yeazs. The project has now moved to a stage in which focus groups of Vail residents have been working on design, programming, management, and financial aspects of the project. An 83,000 squaze foot complex costing an estimated $20.5 million is currently under consideration. Given the fact that the project is moving ahead and has reached a high degree of specificity, the finance committee has raised certain questions concerning the proposed complex, particulazly about economic performance, impact on the community, and the general economic feasibility of its investment in this facility. Issues that would be addressed in the analysis are: 1 • Demand: How many conferences aze likely to use the facility in a typical yeaz? • Meeting/Conference Profile: How large will the conferences be and what will be the seasonal timing of their use? • Lodging Impacts: How many lodging room-nights at local hotels will be attributable to the use of the conference facility? • Potential Revenues: What level of total revenue will likely be generated by people attending ' conferences at the facility? • .Facility Design: Are the proposed size and features of the conference facility appropriate to achieve the utilization and economic impact objectives envisioned by the town? This issue has been studied in Vail for a substantial amount of time, a common characteristic in the consideration of the development of audience support facilities in most communities. This means that a substantial amount of data and information already exists on the facility. Reports that will be reviewed and incorporated, if appropriate, into the analysis include: "Phase One Analysis: Market Suppport for Congress Hall" (ERA, 1987) "The Meetings Mazket" (Meetings & Convention Magazine Biennial Report) I "Report to the Cultural Arts Steering Committee" (Jones & Phillips Assoc. 1990) "Vail Congress Hall: Potential Mazket Demand, Penetration, Group Profile and Chazacteristics" (Tourism Techniques, 1987) II. GENERAL APPROACH AND METHODOLOGY ' Given the existing information and a substantial amount of local knowledge concerning this facility, it is important that the reseazch reflect both "internal" market factors as well as "external" market factors. Consequently, our general approach to this study will entail reseazch inside as well as outside the Vail community to establish potential utilization of the facility and, ultimately, its economic impact. Market Research ¦ Internal mazket reseazch will involve interviews with local officials having knowledge of the visitor industry including the Vail Valley Tourism and Convention Bureau, general managers and sales managers at the pnncrpal local hotels, individuals associated with the operation of existing audience support facilities, and other miscellaneous representatives of the visitor industry. ¦ External mazket reseazch will be conducted pnmarily through surveys of executives and meeting planners associating with organizations that would be likely candidates for use of the Vail facility based on their geographic location, size of conferences, and pattern of conference activity. External reseazch would also provide rnfonnation on the ramifications of Amendment Two ul addition to the data provided by the Colorado Tourism Boazd on this issue. Primary reseazch specifically related to Vail and the impact of Amendment Two would supplement and add more detail to the CTB's evaluation of the impacts due to political events. Impact Assessment The impact assessment would estimate the economic effects on the community based on the reseazch described above in conjunction with other sources of information. The estimation of impacts would be those directly attributable to the conference facility, i.e. annual number and seasonal fluctuation of lodging room nights, total revenues generated by conference attendees, etc. Indirect or induced economic impacts from the facility would not be estimated in this scope of services, nor would non- economic impacts (e.g. transportation, public services, etc.) be assessed in this work program. ' This general approach and methodology emphasizes the fact that utilization of the facility will be a combination of locally generated and externally generated activities. Optimally, the facility will have a balance of such activities. In addition, it recognizes that the facility itself is only one among a number of factors that would amact conference business to Vail and make the facility work as a location for such business. Other principal players include the hotels and other components of the local visitor services industry. III. WORK PROGRAM PHASING AND SCHEDULING The specific tasks that will be undertaken by the RRC/LMRG team in carrying out this study aze set forth below. Task 1-Study Initiation f Senior members of the consultant team will meet with representatives of the Town and the finance committee to review the scope, scale, and the objectives of the study. Significant existing information (previous studies, etc.) will be made available to the consultants. Local individuals who should be interviewed will be identified. Sources of additional information will be noted. Established 1 relationships with outside organizations that could prove useful during the survey process will be provided to the consultants. INTERNAL MARKET RESEARCH Task 2-Local "One-on-One" Interviews Interviews will be conducted with individuals occupying senior positions in the local visitor industry. Aside from gathering baseline data, these interviews would be designed to better understand the seasonal fluctuations mmeetings/conference that currently occur m the Vail Valley. The list of interviewees will include: ¦ Executive director of the Vail Valley Tounsm and Convention Bureau; ¦ General managers of Westin, Raddison, Sonnenalp, Lodge at Vail, Hyatt at Beaver Creek Resort and other principal hotels; ¦ Sales managers at the principal hotels; ¦ Representatives from Vail Associates, Vail Resort Association, Vail Valley Foundation, and Bravo! Colorado; 1 ¦ Representatives of companies managing condominium units available to transient guests; ¦ Other representatives of the visitor industry. Task 3--Analysis of the Local Conference Industry Hotel visitation is divided into three principal segments: leisure guests (tourist); business guests (commercial); conference/convention guests (group). With respect to the hotel industry, a principal purpose of the proposed performing arts/conference center is to boost conference business occupancy. In order to be able to establish the impact that the facility will have, it is necessary to define the current baseline of activity of the industry in Vail. Toward this end, the consultant team will conduct the research and analysis set forth below. ¦ Design a survey to be sent to hotel managers, to serve multiple purposes: develop an inventory of all hotel rooms in the Vail area; estimate the total number of overnight guests that currently stay in Vail lodging in a typical year; identify the seasonality of that pattern of lodging. ¦ Segment occupancy by major source of business: tourist, commercial, group. ¦ Identify the significant characteristics of the conference business, particularly the number of persons per occupied room and expenditure per person using best available local, state, and national data. ¦ Summarize current total conference business in Vaii by visitor count and economic activity. To the extent possible, fluctuations in meeting business by season will be documented. ' EXTERNAL MARKET RESEARCH Task 4--Survey of Prospective Groups Survey reseazch of the convention market on a national scale provides a context for determining the potential demand for convention facilities at Vail. It also enables the development of a profile or characterization of the type of conferences-- number, size, timing of meetings, etc. Given the level of detail of facility design that is currently available, the specific design, location, and other features can ' be evaluated by survey respondents, enabling greater potential for meeting market needs and preferences. The survey sample would extract from a national database the organizations which conduct large off- site meetings. A total of 3-4,000 questionnaires would be sent to meeting planners, with special efforts made to tazget international meeting planners for surveying. These questionnaires would determine, ' among other issues, the likelihood of using a conference facility in Vail and the preferred month or season for conducting a large off-site meeting in Vail. In addition to questionnaires, it may be appropriate to conduct focus groups in major metropolitan areas for qualitative input from different regions of the county (e.g. Dallas, Chicago, New York, etc.) The steps involved in implementing this process are: ¦ Using local resources plus national databases and publications oriented toward the meeting industry, develop a mailing list of meeting planners associated with meetings/conferences that might be interested in meetvng in Vail if the performing arts/conference center is built. ¦ As a preliminary step in designing the survey, a small sample of these planners would be contacted for a detailed discussion of issues relevant to them. These discussions would serve the purpose of refining the survey instrument and ensure the appropriateness of the questions. Given the time involved in this process on the part of the meeting planner, a significant incentive would be offered for their participation. ¦ Design a survey uistrument to be sent to these meeting planners which would include an incentive such as a sweepstakes drawing or free vacation to Vail. Given the frequently low response rate by meeting planners, other creative forms of incentives maybe used to increase the response rate. ¦ Distribute the survey instrument and receive mail-back returns. ¦ Conduct off-site focus groups in a few select metropolitan azeas which would be recorded either visually or audially. ¦ Analyze the data in order to establish the interest that various conference groups would have in meeting at Vail if the new facility is built. Analysis would also include segmenting the conference market by various features (e.g. size of meeting, geographic region, schedule preferences, etc.) to gain a better understanding of the characterstics of the market. i 1 ¦ The estimation of the number of visitors who would be generated by these conferences and lodging utilization would emerge from a combination of the existing local usage patterns and the more general market research. The percentage of planners indicating a moderate to strong likelihood of utilizing the Vail conference facility would be applied to the number of total conferences (pre- , qualified) to arrive at the estimate of potential users of the facility. ¦ Conduct follow-up telephone interviews with at least 20 meeting planners, including ten who did not respond to the survey. ¦ Reach relevant conclusions concerning the size and design of the proposed facility relative to the interests and desires of the respondents. Task S--Establish the Facility's Utilization Profile ' Based on information gained through local research and external market analysis, and taking into account utilization that would be generated by non-conference business such as the performing arts, 1 establish a profile of conference/meeting/trade and public show utilization of the facility for the first ten yeazs of its operating life. Utilization will include the number of events by type per year, the number of performances per event, average attendance per performance, and total attendance by event category and for the facility as a whole. Task 6--Calibrate Facility Characteristics r Based on this research, we would reach conclusions deemed reasonable concerning the chazacteristics of the performing arts/conference center as proposed in relation to what might be considered best to ' serve the perceived market and optimize economic impact. Task 7-Derive Community Impact ' Based on utilization, it will be possible to project the total number of people who will be amacted to Vail as a result of the presence of the facility and the characteristics of these visitors. Using this information and economic factors derived from previous research, estimates will be made of the economic impact of the facility on the community. The economic impact modelling that was performed previously for various evaluations conducted by RRC (Vail Mountain Analysis, World Alpine Ski Championships, etc.) maybe modified and updated to the extent possible for current use. ¦ Establish the number of visitors amacted to Vail as a result of the facility and staying overnight. ¦ Establish the total number of visitors amacted to Vail as a result of the facility and not staying overnight. ¦ Ascribe "expenditure per visitor/day" factors to individuals in each visitor group with the expenditures broken down into such categories as lodging, food and drink, other retail, and travel services. • Calculate total direct expenditures by major category for Vail based on operation of the performing arts/conference center. While not specifically requested, we have the ability to calculate the indirect expenditures generated by visitors, using Bweau or Economic Analysis impact multipliers. These direct and indirect expenditures would then be added to derive total economic impact. This latter analysis is not included in the scope of services or budget of this proposal. Task 8-Reports, Meetings, R'orkshops, and Presentations i The consultant team will report the results of its research and analysis in written and oral form. A written report will summarize the reseazch and analysis and show how the impact figures were derived and calculated. This report will be presented in oral form to town officials. Meetings will be held with representatives of the client at several key points in the study to review findings to date and to obtain the input of these officials with regazd to such matters as the nature of the survey instrument and the application of the economic factors. r r. r M r li i i i i i i i i i i ii i i i i i i i PROJECTED SCHEDULE April July - S M T W T F S 1 2 3 S M T W T F S 4 5 6 7 8 9 10 Initial Meeting 1 2 3 11 12 13 14 15 16 17 Task 5, 6 4 5 6 7 8 9 10 Task 1, 2, 3 11 12 13 14 15 16 17 18 19 20 21 22 23 24 Report 18 19 20 21 22 23 24 25 26 27 28 29 30 "External Market" 25 26 27 28 29 30 31 Findings May August - - S M T W T F S 1 S M T W T F S 2 3 4 5 6 7 8 1 2 3 4 5 6 7 9 10 11 12 13 14 15 Task 3, 4 Interim Workshop 8 9 10 11 12 13 14 16 1718192021 22 15161718192021 23 24 25 26 27 28 29 Task 6, 7 22 23 24 25 26 27 28 29 30 31 30 31 June September S M T W T F S 1 2 3 4 5 S M T W T F S 6 7 8 9 10 11 12 Task 3, 4 Task 7 1 2 3 4 13 14 15 16 17 18 19 5 6 7 8 9 10 11 20 21 22 23 24 25 26 Report Final Presentation 12 13 14 15 16 17 18 27 28 29 30 "Local Market" of Findings 19 20 21 22 23 24 25 Findings 26 27 28 29 30 Task 1-Study Initiation Task 5-Establish Utilization Profile Task 2-Local Interviews Task 6-Calibrate Facility Characteristics Task 3-Analysis of Local Group Industry Task 7-Derive Community Impact Task 4-Survey of Prospective Groups Task 8-Reports, Meetings, Workshops and Presentations PART 3: PROJECT STAFFING ' RRC Associates will serve as the lead consultant and LMRG as a subconsultant in the project. The following RRC and LMRG consultants comprise the project team: • Nolan Rosall, Principal, will serve as project manager of the consultant team. • Mr. John Sherwood, III, Vice President of LMRG, will be the subconsultant on this project. • Mr. Chris Cares, Principal at RRC Associates, will assist Mr. Rosall in managing the ' project. • Angela Atkinson and Michael Simone will.provide analytical and technical support for RRC Associates. Resumes for each of the above team members are provided on the following pages. NOLAN L. ROSALL AICP • RRC ASSOCIATES • 4875 PEARL EAST CIRCLE • BOULDER, COLORADO 80301 • 303/449-6558 • C Nolan has a varied and extensive background in Research and Analysis for National and both public and private sector planning and Regional Associations: analysis. He has been principally responsible for a wide range of tourism-related research and United Ski Industries of America (USIA) master planning for ski resorts, convention and National Ski Areas Association (NSAA) visitors' authorities, and municipalities. He has Colorado Ski Country USA also administered several Public Planning South Lake Tahoe Visitors Authority projects, including comprehensive plans, growth Reno-Sparks Convention & Visitors management systems, and other land use Authority regulations. Nolan has coordinated several Denver Metro Convention & Visitors large-scale PUD and development projects, Bureau including their public processing before a wide Siena Ski Areas Marketing Council, array of local, regional, and federal agencies. Lake Tahoe, CA In his role as a public planner, he also directed nationally-recognized municipal planning and Ski Area Feasibility & Impact Assessments: community development agencies. Nolan is a founding partner and President of RRC Vail Mountain Master Plan and Associates (Rosall Remmen Cares, Inc.). Environmental Assessment, ' Vail, CO Education Steamboat Mountain Master Plan Evaluation, Steamboat Springs ' Masters of City and Regional Planning, Lake Catamount, Colorado Cornell University, 1966 Socioeconomic Impact and Skier Bachelor of Arts, Sociology -City Planning Demand Analysis, U.S. Forest ' Option, Rutgers University, 1964 Service, Steamboat Springs, CO Lake Eldora Master Planning and Professional Experience and Annexation, Nederland, CO ' Representative Projects Planned Unit Development & Public 1983 - PRESIDENT Processing Services: Present RRC ASSOCIATES (ROSALL REMMEN CARES) Celestial Seasonings Corporate Principal-in-charge of.• Headquarters -Comprehensive Plan ' Amendment; Annexation and PUD, Summer and Winter Ski Resort and Tourism- Boulder, CO Related Research: Marriott Courtyard Hotel -Special Use Permit, Boulder, CO Vail/Beaver Creek, CO Public Service Company Land Plan and Steamboat Springs, CO Annexation Study, Boulder, CO Copper Mountain, CO Vail Village Redevelopment, Feasibility Breckenridge Ski Resort, CO Analysis and Zoning Study, Kirkwood Mountain, CA Town of Vail, CO North Lake Tahoe, CA Pearl Street East PUD, W.W. Reynolds Sugarbush, VT & Co. Sugarloaf USA, ME Boulder Tech Center, Boulder County Ski Windham, NY NOLAN L. ROSALL AICP • RRC ASSOCIATES • 4875 PEARL EAST CIRCLE • 80ULDER, COLORADO 80301 • 303/449-6558 • 1979- VICE PRESIDENT/PARTNER Professional Organizations 1983 Gage Davis Associates, Inc. Boulder, CO AICP Principal-in-charge of ski area and tourism Charter Member, American Planning research, public sector planning, and a variety Association of large-scale development and redevelopment Associate, Urban Land Institute projects in resorts and communities in the Rocky Mountain region. 1974- DIRECTOR OF PLANNING AND 1979 COMMUNITY DEVELOPMENT City of Boulder, CO Directed planning programs in a nationally- recognized community of 80,000 people. Responsibilities included a major downtown pedestrian mall redevelopment project, Boulder Valley Comprehensive Plan, growth management systems, annexation and capital improvement program studies, shopping center redevelopment, neighborhood planning, and ' community development. 1969- EXECUTIVE DIRECTOR 1974 Redevelopment Authority Reading, PA Directed major downtown, industrial park, and neighborhood urban renewal programs which received HUD-AIP National Design Awards. - TOR 1967 ASSISTANT PLANNING DIREC Reading, PA 1966 -SENIOR PLANNER Hartford, CT 1965 -RESEARCH ASSOCIATE University of Puerto Rico/Ford Foundation, San Juan, Puerto Rico ~ i John R. She~vood, III Vice President John h rw S e ood has more than 27 years of expenence Edorrtinn in real estate economics and development planning. Graduate Planning Program Having served at senior executive levels in both the University of North Carolina, 1962-1964 private and public sectors, he provides LMRG's clients with pragmatic technical advice for the implementation Graduate Studies in Real Estate and Business of their projects and the formulation of strategies to American University, 1965 enhance development opportunities. Mr. Sherwood's George Washington University, 1960 technical and management capabilities span the full range of development expertise: market research and Bachelor of Arts in Economics analysis; financial analysis and deal structuring; public Dartmouth College, 1958 investment; policy formulation; and development planning. He has managed and participated in Associafions numerous public and private assignments focusing on Trustee, Severn River Land Trust the policy/ investment decision-making process within Annapolis Maritime Advisory Board dynamic economic, social and political climates at local, National Council for Urban Economic Development state and national levels. (Conference Planning Committee) American Planning Association ~r~--eII~ Chesapeake Bay Foundation Legg Mason Realty Group, Inc. Baltimore Economic Society Baltimore, MD Historic Annapolis, Inc. 1989-Present Citizens Planning and Housing Association, Baltimore, Maryland ZHA, Inc. Annapolis, MD Visiting Lederer Vice President/Director of Technical Services University of Pennsylvania School of Urban Design 1985-1989 University of Maryland School of Architecture Praful Shah & Associates Recent Assiignments Columbia, MD Downtown Development Strategy, Baltimore, MD Executive Vice President Downtown Retail Strategy, Wilmington, DE 1983-1985 Revitalization Study, Catonsville, MD Research Park, Hershey, PA Maryland Department of State Planning .Mixed Use Development Strategy, Baltimore, MD Blackwood, NJ Deputy Secretary Maryland Growth Management Program 1979-1983 Wilmington Convention Center, Wilmington, DE International Medical Mart, Baltimore, MD Baltimore Economic Development Corporation Frederick Douglass High School Auditorium Reuse Baltimore, MD Study, Baltimore, MD Vice President Great Island Valuation, Atlantic City, NJ 1977-1979 Smithville Market Update, Galloway Township, NJ Hammer, Siler, George Associates Washington, DC Vice President 1964-1977 Legg Mason Real Estate Services C. CHRIS CARES AicP RRC ASSOCIATES 4875 PEARL EAST CIRCLE BOULDER, COLORADO 80301 303/449-6558 Chris possesses a diverse background in public and Telluride Master Plan private planning. A founding partner of RRC Telluride, Colorado Associates, he specializes in practical applications of research techniques including survey research, Arrowhead At Vail -Master Planning, and statistical and computer analysis for problem Edwards, Colorado solving. His research and recommendations have Vail/Beaver Creek Winter Quality helped to shape both the design and marketing Research-Vail, Colorado strategies of major resorts and other developer clients, and he has coordinated the planning and Copper Mountain Winter Research public processing of numerous large resort and Copper Mountain, Colorado mixed-use projects. Market feasibility studies and housing needs assessments are a particular area of Castle Pines Village specialization. Chris has also drafted Site Design and Strategic Evaluations comprehensive plans, zoning ordinances, growth management plans, capital improvements Rio Grande County Master Plan programs, and related regulations for towns and Rio Grande County, Colorado cities of various sizes. Laurel Creek Feasibility Analysis Pocohontas County, West Virginia Education Master of City Planning 1981 ASSOCIATE Harvard University, 1975 Gage Davis Associates-Boulder, CO Associate in charge of research studies for Bachelor of Arts, Political Science major destination resorts in Colorado and University of Rochester, 1972 Utah. University of Michigan, visiting student, 1971 1979 PLANNER Gage Davis Associates-Boulder, CO ' Professional Experience and Project manager for a number of resort Representative Projects development projects. . 1983 - PRINCIPAL present RRC ASSOCIATES 1976 PLANNER (ROSALL REMMEN CARES) City of Boulder-Boulder, CO Ongoing involvement and responsibility in Principal-in-charge of.• the area of: design review, long range Housing Needs Assessment For planning, capital improvements program, Eagle, Routt, Summit, San Miguel, Pitkin, comprehensive plan amendments, and Garfield and Blaine (Idaho) Counties; annexation fiscal impact studies. Boulder County Housing Authority C. CHRIS CARES AICP 1975 PLANNER Professional Travel Lincoln-Uinta Counties Planning Office Kemmerer, WY Ski Area Study Tour, 1982 Involved in various planning studies for Independent tour arranged through energy impacted communities. European ski areas in France, Switzerland, and Italy. 1974 RESEARCH ASSISTANT Harvard University Graduate School of Design Other National Science Foundation Project Instructor, College of Environmental Design, 1973 GEOGRAPHY INSTRUCTOR University of Colorado, 1982 Battisborough School Plymouth, England Guest Lecturer: University of Wisconsin Extension Program Professional Organizations National, state and local conferences and seminars American Planning Association AICP 1 ANGELA K. ATKINSON RRC ASSOCIATES 4875 PEARL EAST CIRCLE BOULDER, COLORADO 80301 303/449-6558 1 Angela possesses a broad range of skills, Kirkwood Meadows complementing the existing talents of RRC's staff. Northstar-At-Tahoe Ski Resort Her most recent research experience was in Vail Associates, Inc. environmental consulting and planning, where she Heavenly Ski Resort served as project manager and primary research Denver Urban Renewal Allthority analyst for various environmental impact documents, such as Environmental Assessments and Environmental Impact Reports. Her projects 1990 ECONOMIST/ENVIRONMENTAL ranged from wetlands and mitigation monitoring PLANNER plans to policy issues regarding public access to Western Ecological Services Company ocean-front property, and open space/park Novato, California development. Angela has experience in assisting and guiding clients through the public hearing and Served as primary research analyst for approval process pursuant to state and federal environmental impact documents, conducted policy environmental guidelines. She has also conducted and regulatory compliance analysis for clients in housing studies and market analysis for the public the public and private sectors, and functioned as sector -she performed a feasibility analysis of a liaison with subconsultants, city and county redevelopment housing project in Oakland, planning agencies. She specialized in California, which involved developing cash flow socioeconomic impact/mitigation analysis, public projections, methods of financing, market/ policy issues, and received additional training in demographic studies, and site analyses. NEPA regulations. Education 1990 FINANCIAL ANALYST Williams-Sonoma, Inc. Master of Business Administration San Francisco, California Haas Graduate School of Business Administration Analyzed various financial models evaluating retail University of California at Berkeley, 1990 stores' performance. Developed improved spreadsheet models assessing company's annual Bachelor of English Literature sales of $220 million. Montana State University, 1985 1989 ASSOCIATE ACCOUNT MANAGER Professional Experience and Dataquest Incorporated Representative Projects San Jose, California 1991 - SENIOR RESEARCH ANALYST Provided market research data and in-depth present RRC Associates analysis of the high-tech industry for banking, accounting, and venture capital firms. Analyst in the preparation, implementation, and practical interpretation of a variety of planning/research studies for the following clients: MICHAEL A. SIMONE RRC ASSOCIATES 4875 PEARL EAST CIRCLE • BOULDER, COLORADO 80301 - 303/449-6558 1 Possessing a fundamental background in Professional Experience and Representative geography, Mike has accumulated experience in Projects several areas of this multi-faceted discipline, including operation and application of geographic 1989 - SENIOR RESEARCH ANALYST information system (GIS) and remote sensing Present RRC ASSOCIATES technologies, knowledge of issues related to physical, cultural, and sports geography, and a Analyst in the preparation, implementation, and comprehensive understanding of survey research practical interpretation of a variety of analytical methods, techniques, and interpretation. planning/research studies for the following clients: Mike also has an extensive understanding of the Steamboat Ski and Resort Corporation golf course industry in the United States, including Steamboat Springs Chamber Resort Association experience with golf course valuation/appraisal Steamboat Resorts (property management) principles and procedures, golf course sales Reno-Sparks Convention and Visitor's Authority transactions, and knowledge of various Northstar-At-Tahoe Ski Resort characteristics of the golf market, including current Vail Associates supply and demand issues in consideration of Heavenly Ski Resort feasibility for locations of new golf courses. Lake Tahoe Visitors Authority Incline Village/Crystal Bay Visitor's and At RRC, Mike has been involved in a variety of Convention Bureau projects as a research analyst to the ski and travel industry, providing timely information to policy- makers on various important issues, such as 1987 DIRECTOR OF RESEARCH priorities for capital improvement decisions, McKay Golf & Country Club Properties pricing strategies, market-specific targeting, and Lansing, Michigan I other information relating to visitor opinions and perceptions of product experience. Most recently, .Responsible for numerous golf course appraisal Mike has been engaged in a series of economic assignments nationally as well as for efforts impact analyses measuring the effect of different devoted to generating successful golf course sales special events in attracting visitors to resort transactions. vacation destinations: (continued) Education Master of Science, Geography Oklahoma State University, 1987 Bachelor of Science, Geography Oklahoma State University, 1985 MICHAEL A. SIMONE 1985 RESEARCH ASSISTANT 1985 GEOGRAPHIC INFORMATION SYSTEM National Golf Foundation (NGF) ASSISTANT Jupiter, Florida and Center for Applications of Remote Sensing Department of Geography Stillwater, Oklahoma Oklahoma State University Stillwater, Oklahoma Continued participation in the development of the GIS described below for the Soil Conservation Coordinated data collection, processing, and Service. analyses for the 1986-87 Maintenance Survev, of all golf courses in the United States for the National Golf Foundation and Golf Course Superintendents 1984 GEOGRAPHIC INFORMATION SYSTEM Association of America. Also participated in various other studies for the NGF and Geography ASSISTANT Department including projects related to national United States Department of Agriculture golf participation and analyses of golf facility Soil Conservation Service, State Office supply and demand in the United States. Stillwater, Oklahoma Participation in development and implementation of 1985 GEOGRAPHIC INFORMATION SYSTEM a computerized geographic information system ASSISTANT (GIS) for the state of Oklahoma. The GIS was Center for Applications of Remote Sensing central to a variety of applications including land Stillwater, Oklahoma use/soil conservation management, erosion control, and watershed analyses. Continued participation in the development of the GIS described below for the Soil Conservation Service. DEMAND ANALYSIS PERFORMING ARTS/CONFERENCE CENTER TOWN OF VAII. PART 4: EXPERIENCE RECORD RRC ASSOCIATES RRC Associates is a Boulder based planning, research, and urban design firm with a long standing familiarity with city and regional issues as well as a national reputation and practice in the area of tourism-related research and strategic planning. The partners and staff of RRC (a total of 14) have been involved in the planning and facilitation of several large-scale community projects, both public and private. The firm's background and expertise in local planning and community issues are generally known and of importance to this project. What is perhaps less known locally is the firm's expertise in national level visitor- and tourism-related research. RRC currently is providing tourism research for a number of visitors authorities and metropolitan convention bureaus, including Denver, Pueblo, Steamboat Springs and Vail, Colorado; and Reno, Nevada. RRC has also provided ongoing visitor research for several winter and summer resorts in the Rocky Mountains, California, and the Northeast. In addition, the firm has conducted numerous demand and feasibility studies for proposed year-round resorts such as Laurel Creek, West Virginia; Lake Catamount in Steamboat Springs; and Vail, Colorado. The latter two projects involved multi-public agency review and consideration at the federal, state and local levels. PROJECT EXPERIENCE DOWNTOWN BOULDER HOTEL DURANGO RESEARCH PROGRAM EXECUTIVE COlvr~xENCE CEN i~x Durango, Colorado Boulder, Colorado An ongoing winter and summer research/ As part of three firm design team, developed a marketing program for the town of Durango. An plan fora 275 room executive conference center on-site survey is used to gather information from as part of a mixed use project in downtown both summer and winter visitors to Durango, Boulder, Colorado. Process involved a resolution including information about their attitudes, of a variety of on-site and off-site issues and impressions, and traveUvacation patterns. The intensive neighborhood and merchant workshops. information is computerized and presented in Project approved by the City of Boulder, and cross tabulation tables. Final reporting includes represents the largest single mixed use project in recommendations and strategies to Durango for the Downtown Area. strengthening their year-round visitation. Client: The Glacier Park Company Client: Durango Area Chamber Resort Mr. David Oleson Association Vice President of Real Estate Mr. Michael Dexter Denver, Colorado Tourism Director 303/297-4367 Durango, Colorado 303/247-3500 RRC ASSOCIATES / LEGG MASON REALTY GROUP, INC. EXPERIENCE RECORD DEMAND ANALYSIS-PERFORMING ARTS/CONFERENCE CENTER TOWN OF VAIL FRASIER MEADOWS DESIGN AND current and future promotional approaches, new FEASIBILITY ANALYSIS programs and services, and identification and Boulder, Colorado fostering of unique sub-group needs and characteristics. Initiated in January 1990, the Member of a team of consultants brought research technique involves on-site intercept together to analyze the development opportunities interviewing at both casino and non-casino for a prime 35 acre commercially zoned tract in properties throughout the year, with quarterly Boulder, Colorado. RRC developed a market reports furnished upon completion of each feasibility analysis, and participated in the land segments' research. To assure broad coverage use planning and design alternative phase of the among the population of Reno area visitors, study. A prime objective of the study was to interviews are conducted at over 20 different evolve a comprehensive development strategy for locations in both Reno and Sparks. this mixed use project consisting of retail, office, hotel, residential, and recreation uses. After six months' successful research in Reno- Sparks, the North Lake Tahce Intercept Survey The outcome of the planning program was a was initiated in July, also by direction of the Request for Qualifications/Proposals for a mixed RSCVA. Having a similar objective acid use commercial center with associated hotel, approach as the Reno-Sparks Intercept Survey, office and residential development. The process the North Lake Tahce study provides the added resulted in narrowing the field of prospective dimension for combined Reno-Tahoe analyses, developers to a select group of qualified teams, allowing for comparison of both differences and and is expected to ultimately result in the similarities between the two destinations. development of the property through an . organizational mechanism that is well-suited to Client: Reno-Sparks Convention the owner's financial needs and desires. & Visitors Authority Ms. Lee Carol Lombard Client: Mr. Curt Frasier, Owner Research Manager Beloit, Kansas Reno, Nevada 913/738-5723 702/827-7682 RENO-SPARKS AND NORTH LAKE TAHOE SOUTH LAKE TAHOE VISITOR RESEARCH VISITOR RESEARCH Lake Tahce Visitors Authority Reno-Sparks Convention & Visitors Authority (RSCVA) The purpose of this ongoing study is to provide a comprehensive analysis of the South Lake Tahce Having previously perfonned visitor research for visitor, their characteristics and motivations, and other recreational and gaming concerns in the to develop effective strategies to enhance the Tahoe area, the Reno-Sparks Convention and tourist market in the South Lake Tahoe area. Visitors Authority, a group representing casino, Research is being conducted for the Lake Tahce ski resort, lodging, and other related major Visitors Authority-a group representing casino, interests, commissioned RRC to coordinate and ski resort, motel and hotel lodging, and related conduct the Reno-Sparks Intercept Survey for the major interests. Techniques include a variety of purpose of providing comprehensive visitor on-site intercept and mailback surveys, and tracking and analytical support on an ongoing off-site analysis in major metropolitan areas such basis. The objective of the study is not only to as San Francisco, Sacramento, and Los Angeles. provide detailed profiles of visitor characteristics, The information generated from these studies has motivations, and opinions, but also to develop been used to develop new promotional themes, strategies from the findings as they relate to redirect the application of marketing resources, RRC ASSOCIATES / LEGG MASON REALTY GROUP, INC. EXPERIENCE RECORD DEMAND ANALYSIS-PERFORMING ARTS/CONFERENCE CENTER TOWN OF VAII, and create additional programs and services to the town, to actual and perceived changes in accommodate the needs of visitors to the area. quality and levels of service. Its methodology included extensive interviewing, data gathering Client: Lake Tahoe Visitors Authority and monitoring, computer programming and Mr. Carl Ribaudo, Former Director analysis and additional statistical techniques. of Marketing 916/577-9711 Follow-up studies conducted from 1980/81 through the current season have resulted in marketing and real estate development strategies, VAIL/BEAVER CREEK MEDIA SURVEY and have evaluated numerous aspects of the Vail Vaii, Colorado program including ski school, lift Improvements, restaurants, buses, and special card and discount A survey-based research program designed to incentives. The studies have used a wide variety investigate the use and awareness of various of research techniques, including on-mountain types of media by visitors to the Vail Valley. and off-site intercepts, telephone surveys, Interviews were conducted with skiers at both mailback surveys, focus groups, and numerous Vail and Beaver Creek, and results were work sessions with employees of Vail Associates, interpreted via computer. The survey was the parent corporation that operates the two ski designed to evaluate the relative importance resorts. placed on various communications and information sources including radio, television, In recent years, component studies have been newspapers, magazines and local brochures. conducted to identify and quantify target markets Different types of information needs were probed for second home buyers and desired service levels with analysis focused on skier origins and in various facilities including on-mountain demographics. restaurants, ski school, and various other capital improvements. These studies developed Client: Vail Associates recommendations and strategies for positioning Mr. Kent Myers the VaiVBeaver Creek resorts to improve their COO, Beaver Creek Resort competitive edge in the resort second home Avon, Colorado market. 303/476-5601 Client: Vail Associates Mr. Kent Myers VAIL MOUNTAINBEAVER CREEK COO, Beaver Creek Resort ONGOING MARKET RESEARCH AND Avon, Colorado STRATEGIC PLANNING 303/476-5601 Vail, Colorado A major research project originally begun in 1979/80 for a task force consisting of the Town VAIL MOUNTAIN of Vail, U.S. Forest Service, Vail Associates, MA~inxDEVELOPMEN'TPLAN Eagle County and the Vail Resort Association, Vail, Colorado and continued as a market/planning research effort in each year to the present. The goal of the This study completed for Vail Associates original study was to establish capacity limits included a variety of research and analytical and quality thresholds for the Vail Mountain and techniques including surveys, computer assisted Beaver Creek Resort. The study examined in a evaluation, focus interviews, and other methods comprehensive way the relationship between of data collection to develop a definite winter visitors both on the ski mountain and in understanding of perceptions of need for RRC ASSOCIATES / LEGG MASON REALTY GROUP, INC. EXPERIENCE RECORD DEMAND ANALYSIS-PERFORMING ARTS/CONFERENCE CENTER TOWN OF VAIL improvements to Vail Mountain, encompassing VAIL SUMMER RESEARCH PROGRAM an estimated $40 million program. This included Vail, Colorado 1 lift upgrades and replacements, expansion of terrain, by type, restaurant and facility evaluation A survey research program during the summer of and additional base area needs. Data collection 1984 designed to gather information concerning and analysis led to development of the complete summer visitors to Vail, their attitudes and Master Development Plan, by logical phases for behavior. This program builds upon previously Vail Mountain. completed winter research work to provide data on a little understood component of the Vail We then helped Vail Associates to draft the market. Master Plan documentation, including impact assessments, to the U.S. Forest Service. We also Client: Vail Resort Association played a major role in assisting the processing of Vail, Colorado the application through the various Forest 303/476-1000 ~ Service, Colorado Joint Review Process, and local Special Use Permitting procedures. Chamber of Commerce 303/949-5189 Client: Vail Associates, Inc. Mr. Joe Macy, Mountain Planner 303/476-5601 VAIL WORLD SKI CHAMPIONSHIPS Mr. Larry Lichliter, Former Vice Pres. MODEL 303/476-2303 Vail, Colorado (KSL Enterprises Group, Ltd.) Vail, Colorado Preparation of a computer based model to evaluate the effects of large one-time population increases in the Vail Valley, upon critical VAIL PARIGNNG TASK FORCE services such as parking, transit services, housing Vail, Colorado and luncheon demands. This comprehensive model was designed to assist a number of local A Task Force formed by the Town of Vail to entities in evaluating impacts and formulating establish anticipated short-term and long-term joint policies relating to planning for the World parking requirements related to the expansion of Ski Championships to be held at VaiUBeaver Vail's ski mountain and modifications in out-of- Creek in 1989. The model encompasses a large valley lift capacity. The Task Force evaluated geographic area, from Vail to Edwards, and is parking demands for local residents, employees, capable of tracking a variety of resident and day skiers, and overnight visitors. The Task visitor population groups. The model was Force consisted of representatives from the Town "automated" to a large degree, to permit it to be staff, Town council members, members of the more easily utilized by a variety of users. planning commission, representatives from Vail Associates, and Nolan Rosall from RRC. Client: The Vail Valley Foundation World Ski Championship Committee Client: Town of Vail, Colorado Vail, Colorado 303/476-7000 ~ 303/476-9500 r RRC ASSOCIATES / LEGG MASON REALTY GROUP, INC. EXPERIENCE RECORD DEMAND ANALYSIS-PERFORMING ARTS/CONFERENCE CENTER TOWN OF VAII. ' TOWN OF VAIL VAIL ONGOING PLANNING SERVICES TRANSPORTATION FIELD SURVEYS Town of Vail, Colorado Vail, Colorado Assistance to the Town of Vail in a series of During the winter of 1988/89 RRC conducted planning assignments including market and surveys of the number of cars and types of demographic research, housing studies, license plates in parking lots in Vail, and among modifications of land use regulations, the users of selected parking facilities. The transportation/parking studies and redevelopment purpose of the research program was to gather advice and counselling. information in ~rlticipation of future transportation planning studies. Because peak Client: Town of Vail, Colorado conditions are encountered during the winter 303/476-7000 months, but only on certain days over the course of the ski season, the study required careful sampling. It resulted in the most comprehensive data base yet assembled for the Vail Valley, linking parking use and users in an integrated format suitable for analysis by Town officials and other consultants. The data that was collected was organized by RRC into Lotus based formats, and diskettes were provided to Town officials, to ensure an ongoing information program suitable for local use and updating. This data may be used for transportation planning, parking structure investigations, and evaluations of current requirements of the Vail Land Use Codes. Client: Town of Vail I Vail, Colorado 303/476-7000 RRC ASSOCIATES / LEGG MASON REALTY GROUP, INC. EXPERIENCE RECORD JOHN R SHERWOOD, III LEGG MASON REALTY GROUP, INC. EXr~RIENCE AND QUALIFICATIONS PARTICULARLY RELEVANT TO THE VAIL VALLEY PERFORMING/CONr~RENCE CEN i ~R ECONOMIC ANALYSIS As a major economic consulting, firm associated with one of the nation's leading financial service companies, Legg Mason Realty Group, Inc. (LMRG) has substantial experience directly relevant to the proposed assignment. This study will require market, operational and financial analyses to help facilitate the development of the proposed performing arts and conference center. LMRG's contribution to the study will involve dimensioning the facility's economic impact based on detailed analyses of its utilization and operations. This work is completely consistent with the experience and capabilities of John R. Sherwood, III and LMRG. AUDIENCE SUPPORT FACII.i t trS-GENERAL John Sherwood has had principal responsibility for conducting dozens of economic studies associated with community audience support facilities. Such facilities include conference centers, civic and convention centers, arenas, exhibit halls, theaters, auditoriums and similar projects. As a result of a professional involvement in this field dating back to the mid- 1960's, his research and analytical techniques are currently accepted practice in determining the market for, feasibility of, and impact of such facilities. His studies clearly and concisely identify a community's audience-support status and future potentials, the impact of the proposed facility on the local economy, and the best means of implementing development of the facility. Many of the projects for which Mr. Sherwood has conducted studies and provided development advice are built and operating. CONr~RENCE CENi~RS Utilization b conferences small conventions trade rou s and other rou business Y g P~ g P activities has characterized many of the facilities studied by Mr. Sherwood. Specific conference center studies include the following. ¦ Future Farmers of America Conference Center Alexandria. VA--Headquartered in Alexandria, the Future Farmers of America (FFA) desired to build a conference center that would serve its own conference activities and accommodate outside conferences on a roughly 50/50 basis. Mr. Sherwood analyzed the current pattern of conferences being generated by FFA, the amount of utilization that would result from FFA's activity, the most compatible organizations to share the facility with FFA, the nature of the facility that would be required to be acceptable to these outside groups, in the overall amount of use that the facility would receive. Conference "j ~ i centers in the greater Washington area were surveyed and their characteristics identified and conference centers associated with other youth groups elsewhere in the country were studied. An operation analysis of the facility was undertaken. ¦ Resort Conference Center. Seattle. Washin4ton--A private investor proposed a resort oriented conference center north of Seattle. Mr. Sherwood spent a week in the Seattle area identifyyng and analyzing the performance of principal resort conference center in that area. The characteristics of the proposed resort were identified and its strengths and weaknesses evaluated in comparison with its competitors. Conclusions were reached concerning the utilization of the conference center and i occupancy at the associated hotel. ¦ First State Center. Wilmington, Delaware--This study was undertaken for the Department of Commerce of the City of Wilmington. A thorough analysis of potential utilization of a civic/convention facility was performed by Mr. Sherwood. A mail-back survey of 300 organizations was undertaken to establish the interest that such organizations would have in meeting in Wilmington, and, if they have met in Wilmington in the past, what they perceived as the strengths and weaknesses of the city as a meeting location. A utilization profile was derived for the facility including a substantial amount of convention/conference/meeting activity along with civic and other local utilization. The impact of the facility on downtown Wilmington was assessed. ¦ International Life Sciences Trade and Conference Center, Baltimore. Maryland--This facility is currently in an advanced stage of planning for a location next to the new Oriole Park at Camden Yards baseball stadium in downtown Baltimore. LMRG's assignment was to analyze the impact of the complex on the economy of downtown Baltimore. Prior to conducting the economic analysis, however, it was necessary to establish the exact characteristics of the permanent tenants of the trade mart facility and the group business activity that would use the conference, convention, and temporary exhibits facilities. Extensive research was done into the characteristics of the meetings of medical industry groups. Detailed analyses were undertaken of likely expenditures at the facility and in downtown Baltimore. CIVIC CEN 1~RS-GENrt~AL LMRG has recently completed two studies of civic centers in which the analysis involved work similar to that that would be performed in connection with the Vail facility. ¦ Dover Civic Center-LMRG conducted a study for the Delaware Development Office and the Civic Center Corporation of Dover to advise them with regard to development of an arena-based civic center to serve the Dover area. This work ' involved utilization and locational analyses. Mr. Sherwood was asked to conduct the assignment after two previous consultant studies led to inconsistent results with regard to the utilization, viability, and developability of a civic center in Dover. ¦ Prince George's Equestrian Center Arena--Mr. Sherwood directed LMRG's study of operating and management strategies for an arena facility to become part of the Prince George's Equestrian Center in Upper Marlboro, Maryland. The facility is currently under construction. The analysis involved in-depth research into analysis of the management and operating characteristics of this 30,000 sq. foot, 3,000 permanent seat facility. 1 TOURISM AND VISITATION LMRG and Mr. Sherwood have considerable experience in the field of tourism/visitation studies. This work has involved working with a number of government organizations and private sector developers to provide information, data, and strategies aimed at identifying visitor resources and attributes and devising ways to capitalize these to maximize economic benefits. Eht~~RIENCE IN COLORADO John Sherwood has conducted two audience support facility studies in Colorado. ¦ Ashen Theater--In a special assignment for Mitchell Energy Corporation, a major developer in Aspen in the 1970's, John Sherwood analyzed the potential for developing a theater to become part of Mitchell's development in the Aspen community. ¦ Colorado Snr1nQS Civic Center--Mr. Sherwood conducted a study of the potential for developing a comprehensive civic center facility to serve Colorado Springs. Among other things, research involved understanding the way the substantial conference facilities at the Broadmoor Hotel worked and were marketed. PUBLIC POLICY STUDIES LMRG and John Sherwood have conducted numerous studies intended to underpin significant public policy decisions with regard to development in communities. Such studies involve economic development, downtown, commercial revitalization, special development districts, taxing policies, housing, and similar important topics. STUDIES OF SPECIAL FACII..~ i ir~S The adaptability of LMRG and Mr. Sherwood are highlighted by certain special studies r undertaken by Mr. Sherwood over the past several years. • ¦ Museum Studies--LMRG has performed museum studies for the Philadelphia Maritime Museum, the Babe Ruth Museum in Baltimore, and Longwood Farm in Myrtle Beach, South Carolina. The firm has also been selected to serve as economic consultant on the team conducting a study of the new Baltimore's Children Museum. ¦ Sorts Facilities--LMRG has recentl rovided consultin si p y p gas stance to Sports Center USA and to the Sports Palace. Sports Center is a major theme project selected by ' the City of Baltimore for possible use of the power plant facility on Baltimore's Inner Harbor. The Sports Palace is an extremely comprehensive participatory sports and recreational facility. 1 i 1 1 I 1 PART 5: BUDGET /COST PROPOSAL The following proposed budget is our best estimate for this type of assignment based on the program identified. RRC typically works on an hourly basis towazd a "not to exceed" budget. The hourly billing rates for firm members range from clerical and some computer staff at $30 per hour, to Senior Analysts at $50 per hour, to principals at $85 to $120 per hour. We bill expenses, such as copying and airline tickets, on a direct basis with no mark- up. Travel time is billed at one half the normal hourly rate of the person conducting the field work. Our prelimary estimate of the total budget for the feasibility analysis of the Vail performing arts/conference facility is $43,340. Further detail is provided on the following page and RRC is open to discussion in terms of further refinement and negotiation of this amount. it r +r ~r r r r r ar rr +rr ar rs r¦~ rrr r r~ ~r r FEE SCHEDULE/PROPOSED BUDGET Task 1 Task 2 Task 3 Task 4 Task 5 Task 6 Task 7 Task 8 Person Amount Person Amount Person Amount Person Amount Person Amount Person Amount Person Amount Person Amount D s i Da s~ Days ~ Days I Days I Days Days ~ Days I av 1 V LABOR: Senior Professional 2 1,600 2 1,600 2 1,600 4 3,200 1 800 1 800 2 1,600 4 3,200 Professional 1 400 3 1,200 6 2,400 8 3,200 3 1,200 2 800 6 2,400 4 1,600 Technical Staff 0 0 3 960 10 3,200 1 320 2 640 4 1,280 2 640 Sub-Total Labor S2,000 S2,800 $4,960 59,600 S2,320 52,240 55,280 55,440 EXPENSES: Travel 1,000 500 400 1,000 1,000 Survay Mailing 2,500 Database List 300 Incentive 1,000 Report Production/Doc. 1,000 Sub-Total Expenses S1,000 5500 5400 55,800 SO SO SO S1,000 Total 53,000 S3,300 S5,360 S15,400 52,320 52,240 55,280 S6,440 TOTAL PROPOSED BUDGET = S43,340 Approximate Bitffng Rate: Senior Professional 585-$120/hr. Professional S50-580/hr. Technical Staff 525-550/hr. PROJECT REFERENCES • RRC ASSOCIATES • 4875 PEARL EAST CIRCLE • BOULDER, COLORADO 80301 • 303/449-6558 • ' Mr. Kent Myers Mr. William Reynolds Vice President of Marketing President ' Vail Associates, Inc. The W.W. Reynolds Companies P.O. Box 7 4875 Pearl East Circle Vail, CO 81658 Boulder, CO 80301 t Phone: 303/571-4121 Phone: 303/442-8687 , Ms. Lee Lombard Mr . Andrew Straln Research Manager Senior Planner ' Reno-Sparks Convention & Tahoe Regional Planning Agency Visitors Authority P.O. Box 1038 ' 4590 South Virginia Street Zephyr Cove, NV 89448-1038 Reno, NV 89504-0837 Phone: 702/588-4547 Phone: 702/827-7682 Ms. Marcelee Gralapp ' Mr. Carl Ribaudo Director The Strategic Marketing Group Boulder Public Library P.O. Box 10109 P.O. Box 791 ' South Lake Tahoe, CA 96158 Boulder, CO 80306 Phone: 916/577-9711 303/441-3106 Ms. Sandy Blaha ' Northwest Colorado Council of Governments P.O. Box 739 ' Frisco, CO 80443 Phone: 303/668-5445 1 1 I I RRC ASSOCIATES ' RESEARCH • PLANNING • DESIGN 4875 PEARL EAST CIRCLE I30ULDER, COLORADO 80301 (303) 449-6558 ' RRC offers services in research, planning, importance of local procedures and and design to local governments, public requirements, and experience in assisting and ' agencies and private developers and coordinating public policy makers and staff corporations. The company is made up of a members at all levels of government, allows small group of professionals with extensive RRC to work effectively in communities experience and qualifications in the problems representing both developer and public and needs of communities. Our firm's small agencies. The firm emphasizes management size permits RRC to offer a very personal techniques which assist the community and its level of services to our clients. leaders in finding unique solutions to carefully ' defined problems. The firm's principals have experience as staff to municipalities and counties, and through RRC strives for a pragmatic approach which ' extensive consulting work with a variety of balances innovation with working at the lowest communities, have learned the importance of possible cost. The firm takes pride in our seeking solutions to problems which are demonstrated ability to meet our client's time ' sensitive to local conditions and tailored to and budget requirements. local needs. This understanding of the ' SERVICES Or r r:RED: ' Survey and Market Research Market Analysis Regulation and Ordinance Evaluation Site Selection Research Zoning and Subdivision Ordinances User Needs Surveys Historic Preservation Ordinances Demographic Research Growth Management Ordinances ' Land and Development Planning /Design Impact Assessment Site Analysis and Development Suitability Analysis of Development Plans Program Development and Optimization Cost-Revenue Analysis ' Project Feasibility Analysis Environmental Impact Assessment Master Development Plans Coordination Planned Unit Developments ' Implementation and Phasing Strategies Special Client Services Public Processing and Approvals General Consultation Design /Development Guidelines Project Team Coordination and ' Goals and Policy Formulation Management Housing Studies Financial Presentation Packages Capital Improvement Programming Public Participation Workshops Population and Employment Strategic Project Positioning Research /Analysis Workouts and Repositioning Strategies ' CONTACTS: Nolan Rosall ' Chris Cares COMMUN-ITY AND RECREATIONAL RESEARCH RRC Associates has frequently designed and carried general. We often assist clients to better understand out research programs for public-sector clients their relative strengths and weaknesses, or to involved in analyzing community programs including measure the position of the community or the resort public services, transportation, housing, recreation, relative to the competition. and parks design. These efforts have typically been - in situations where the client, agency or municipality Our methods are always action oriented. We ensure had identified a number of general questions in need that data are appropriate to the range of issues that of answers that would affect programs, processes or have been identified. In addition, our eazly design decisions. discussions frequently result in broadening the range of topics: past experience allows us to anticipate RRC assists in the refinement and formulation of clients' needs in ways that go beyond the obvious. ' questions into a research program designed to We assume that the client will be making decisions provide specific results and direction. Because of on the basis of the information collected. extensive reseazch activities in a vaziety of private and public sector settings, RRC is also able to At the conclusion of the data collection phase, we ' provide comparable data to clients concerning public emphasize the interpretation of data and the processing issues, recreational behavior, and design application of the results to solving problems. Our - considerations. The particulaz situation may involve reports typically contain specific recommendations a number of general, or a specific problem, Data designed with the particular agency or municipality can be used to test a single concept or multiple in mind. In most cases, they identify a set of actions ' strategies. If, for example, a golf course or an that, taken together, begin to form development athletic club is being evaluated, issues of pricing and strategies. They are shaped through dialogue with membership options are often under consideration. the client and with a solid understanding of the At the other end of the spectrum, we have been interrelated nature of most public sector decisions. called upon to identify development opportunities in OCCUPANCY RATES COMPARED - DURANGO V5. VAIL AVERAGECARS /UNft' SY'[YPE ' 10 ~ .r: ~ ~ - 00 y Y Oa Oi L00 is t~ . LO LO Oiesepe 70 N w~ SO ^ 30 ~ 20 ~ 1903j OS rmgi.~sa1 1e i 0 _ _ ~ 0 ~adO~~Ft a ~.a~sA ~ 4.1wdNt ~ve.«u r~er.n M.ra ~v~+l KMI Jwe O~yOt - COMMUN[IYAND VISROR SA175FACTiON WIRi SU6QtER / WaiIER RECRFJ1170N FAClLiiTES CO SOF18~L F/1CtSlYiES v9 70 •10 d 6~ 2 0 2 t 6 t 10 °0 Vd w IHiOm ~9 Fi~/rWi x Aran a b o G7P~ w~rvy:ew':.,: wr.v~.a sr...a.a.a s~....Nde a1°I a v.srad a s~r.a a a~+ar a v.o~.e { ROSALL RED CARES EXAMPLES OF RECENT COMMUNITY- 'I'I[E RESEARC[I BASED RESEARCH INCLUDE: TECHNIQUES Boca Raton, Florida -Recreational research for the Boca Raton Beach Tax District to Many different strategics and determine needs and desires of permanent residents in arecreation-oriented, wann weather techniques fall under [he broad ' resort community. category of "research". Il is Eagle County Strategic Recreation Master Plan -Research jor a county that includes the important to first identify the resorts of Vail and Beaver Creek Resort, as well as rural development and a small nwnber problem which needs to be solved ' of scattered communities. Surveys and an extensive inventory, along with a series of and then select the appropriate workshops lead to an action-oriented plan which addressed the needs of permanent residents research strategy and technique. and visitors. RRC has considerable experience in helping clients clearly identify Durango Research Program -Summer and winter survey programs and 'conversion' the problem and recommend the research for a town in southwest Colorado that has a variety of tourist activities and appropriate approach for its attractions. In addition, RRC has conducted acomputer-based sttuty of occupancy of Duran o lod in with re ulcer re orts to artic atin ro erries and local o dais. solution. 8 8 8• 8 P P iP 8P P Telluride, Colorado Community Survey - An intensive survey of local resrdents designed to Different approaches are used for develop local policies concerning land use, recreation and other topics ojcommuniry different problems. We do not ' interest based on citizen priorities. approach a particular situation • with a predetermined or generic Park City, Utah Rousing Authonly - A survey-based analysis of housing availabilities and research package. Instead, we priorities within a resort cwnmunity. Demographics, pricing and unit preferences were listen to the client's concerns, among the issues evaluated. attempt to understand the topics being evaluated, and suggest a South Fork Intorporation Study - A survry-based analysis of residents in a small Colorado methodology which fits the community considering issues, of incorporation and other aspects of local planning, ' available budget. recreation development, economics and tourism. Lake Catamount Socioeconomic Study -Recreation and social analysis in conjunction with The research process typically ' an environmental impact study for a proposed ski resort development near Steamboat: relies on a number of different Springs, Colorado. This involved a telephone survey and focus group sessions to evaluate approaches including traditional recreation participation by residents, and a wide range of local issues and concerns. techniques of estimating demand such as census reports, East Fork Socioeconomic Study -Social and economic analysis of a proposed new ski government data, private sources resort in Southern Colorado. A survey-based research program and focus groups were two and interviews. In addition, we of the research techniques that were used to develop an understanding of community and have access to available recreation participation levels. computerized databases that Rousing Needs -Researched housing needs assessments for a nwnber of counties with describe local or national major resorts including Eagle; Garfield, Pitkirt, Routt, Summit, and for the communities of conditions. In some instances, Fstes Park, Colorado acid Suii .Valley/gctchran, Idaho. focus groups or questionnaires may also be appropriate. Frequently the success of the ' EXAAlPLE OF RBCREATION SURVEY RESULTS research program is achieved by linking one or more of the following techniques together to VISTI'ATION PATTERNS FOR DIl=FERENT PARKS AND FAC[LIT)FS obtain maximum information at ' AvERAQE VISITS BROKEN DOWN BY MARITAL STATUS minimum cost. We are MARRIP.D WITH experienced in the use of many PARK TYPE AvP.RAdE Vlsrrs SWdLE MARRIED CHILDREN different research instruments Beach Parks 19.3 26.4 14.7 18.8 including: Community Parks 6.8 10.5 1.9 8.5 Public Golf Course 5.8 8.1 1.6 7.3 • Government and private ' Neighborhood Parks 5.7 0.9 0.5 5.5 document research School Facilities 3.2 6.7 1.1 2.0 • Intercept questionnaires • Mailback questionnaires , n=455 n=50 n=89 n=316 • Telephone questionnaires • Analysis of sales office visitor cards PLANNING & RESEARCH FOR RESORTS ' . ~r RRC ASSOCIATES works in a • Research for marketing and other i~ ~ ~ .;1~ _ j:, continuing capacity for a large client targeted issues base of winter, summer and year- • Master planning _ round resorts. Our clients include • Public processing assistance . ' r both large destination resorts, and • Impact analysis and other forms of smaller regional areas. The services computer mode7irig we provide typically fall into several `A areas: Vail Mountain Winter Resean:h MARKET AND ISSUFrORIENir:~ RESEARCH ' # ~ ~ ~ We offer a variety of research • On-site surveys ti techniques that are effective in • Focus interviews • ~ ~ gathering information which is "O„~`--site "surveys (utilizing - ~ essential to the operation or planning telephone and other intercept " ` of resorts. We have provided a techniques in a variety of ":,'~r ;1 , ' variety of specific reseazch services locations) ~ y • - ~ra~~'~ to our clients, frequently utilizing a • Special research combination of techniques tailored Berry Creek Colorado Master Plan to meet their needs. These include: MA, i PLANNING . ~ RRC has provided team Our rnaster planning services to coordination and master planning clients have typically fallen into one r services for a variety of existing and or more of the following azeas: ,,,o,,,,,,~„o„ a„~„ _ proposed resorts in the Rocky ° Mountain Region. • Development strategies. and . p~ = ~ potential analysis Our ability to merge research and • Program development ; g m o g planning techniques with land • Master developmera plans development and urban design skills • Feasibility analysis allow us to bring to the master - planning process a unique ability to Our broad background in ' _ _ create and evaluate development community planning and public alternatives which make sense -not participation have provided an only from a physical and additional advantage in our resort ' ®1e1 ~ ~ programmatic perspective, but from master planning assignments. We ~~,'S rte, ucQti Deuptopment a consumer demand orientation as have worked with and coordinated Conoepc D(agram well. resort specialists in such fields as golf course design, ski mountain planning, transportation, and a variety of engineering and environmental disciplines. PUBLIC PROCESSING As an outgrowth of our master • Local, town or county We havefound thatpubhc ~ planning experience, RRC provides coordination with boards, processing and :approval;: expertise in public processing. We councils or authorities s.ktils are Increasingly im . are experienced in coordinating and • Community and special portctnt to recluctng time processing large-scale projects with interest groups for approvdis, auo:ding a variety of public and private • State of Colorado Joint , confrontatLOn and negoti entities: Review Process ati.ng e,~}'ectwely • Environmental [mpact - Assessment Coordination ' IMPACT ANALYSIS AND COMPUTER MODELING t - - RRC provides specialized resort services in impact analysis and computer , ?r~''' _ modeling. - We have developed an expertise in socioeconomic analysis. This ~ analysis typically includes understanding and documenting the impacts - from proposed projects or events upon local population growth and ~v ' ~ ~ demographics, permanent and seasonal employment, housing, community 1 services, public costs and revenues, secondary land use and related ~ ~ v, impacts, and on changes in lifestyle. Our extensive resort experience Vail Mountain Master Ptnn and gives us an understanding of how these impacts in a resort context differ E7wirv,vrfental Assessment from the more "typical" urban situation, and we are able to customize t~I a a 1, (~,I.I,,1 our planning evaluation and impact assessments to local situations. ~ t ~ ~ ~ 1~~ ~ d~I~~ tl~;~l~ wII ~ i~ Frequently, we have developed computer-based models to help define the interrelationships of resort variables, and to forecast and evaluate alternative "futures". We have also coordinated trrams of environmental specialists in the preparation of Environmental Impact Assessments for East Fork Soctoeconomic Impact various resorts, a function that requires specialized skills and broad - experience in both management and impact assessment. ;1[71 - 57.1)SitlyL r11a,1 ' WLL~IIIU (17.fN 3111) ISiNLi1R Idl. 1- I>EfnUi(R Nil T~f11 IlY7St11IF11i saE01} .........w..........~.... .o.m.a...~...~e......._., 1. Iss11011u Igwrtals rralltt r..t 1 } s / s s 7 / s u , \a It„tt a1. IIVM t k... rrs111 Sdi. au.. i,p (11/1C) I~lw Ottw111 M Ott M \It 1611Ht14 /t7}7V49t (Ollu) yl / [ 7 1 1 7] 1 t1 1 1 Inl. (IUt 7aetnrztlm) I}.1 17f.N1 INS 7.1 /.1 577 1 / 1 A/ S h J H 1 11 SFI }.f i7N,p1 n 1.7 /.1 TaeMe1 1 / 11 1 SI IN 1 H N H ,r} S.1 111S,IN Iq 1.7 I.t Cm/aNla 1 11 1 If /1 W JI 4 1{ N Ita~leaw 1.1 tt}I,IN In 1.7 /.1 11111 1 IN 1 1 1 1 N / 1 / fN/a4M1 1t.1 fSS1,N1 A 1.1 1.1 - - - - IIIIt 61t 11.1 IN,N/ R /.1 IW11mt11 O/n 1 Ill S• T1 rll 11 Hf 71 It1 \it Occ. \t1 Ooe. \t1 Ott. \N 1,11 St. fY1. IKr. Stw. 911r. Sr1. 7r(/IyHM) Nt /sl nt yl m ut m YJ rst sst In iwdell m In of fAlnYtr IN {Sl ISS Ia//1 tat Js1 In m East Fork Computer Model , f ' LEGG MASON REAL ESTATE SERVICES ~ -REAL ESTATE VALUE ENHANCEMENT Real estate has the ability to create great monetary gain, or conversely, substantial loss. It is a prime factor in community growth, development planning and asset enhancement. Real estate assets constitute a substantial portion of the personal, institutional and corporate wealth of the United States. As part of its overall corporate goal to provide high quality, comprehensive financial services to all investors, Legg Mason has established Legg Mason Real Estate Services. The strategic mission of LMRES is to create and enhance fundamental value in real estate on behalf of its clients. LMRES consists of four companies providin services in real estate market anal sis g y , financial feasibility analysis, appraisals, real estate portfolio advice, mortgage banking real ' estate asset enhancement, formulation of public policy in community and economic development, preparation of development strategies, financing, and others. ¦ Legg Mason Realty Group, Inc. Real estate development consulting, ' appraisals, and information services. ¦ Latimer & Buck, Inc. Mortgage banking, and real estate development 1 consulting. ¦ Dorman & Wilson, Inc. Mortgage banking and appraisals. i ¦ Legg Mason Real Estate Advisors Real estate investment advice for institutional portfolios. LMRES clients include developers, development agencies, individuals, insurance companies and pension funds, builders, banks and investors and a wide range of government entities. The firms of LMRES help their clients to attain their financial goals by the application of tested investment principles and solid professional judgment. ' In acquiring and operating the companies of Legg Mason Real Estate Services, Legg Mason has assembled firms which are leaders in their fields. These firms operate independently to build their core business supported by linkages with LMRES and larger ' Legg Mason networks. Individually each Legg Mason Real Estate Services company is a principal player in its specific geographic area and business line. Collectively, the companies can deploy an unmatched depth and breadth of specialized talent in real estate finance and real estate asset advisory, appraising and consulting services. LMRES can tap the capabilities of other Legg Mason entities including investment banking, public finance, secondary market finance, limited partnership finance, and others. i ' LEGG MASON REALTY GROUP, INC. 1 -OVERVIEW - Real estate development rewards those who understand the importance of the supply/demand relationship that creates long-term value. Legg Mason Realty Group, Inc. counsels its clients concerning all economic aspects of the real estate development process and assists them in executing their developments strategies. LMRG's independent, analytical perspective is always rooted in fundamental economic and demographic research. LMRG is a full service real estate consulting firm with amid-Atlantic presence and a national scope. The firm's clients benefit from Realty Group's experienced real estate professionals, who are knowledgeable in the full spectrum of real estate valuation, planning and financial disciplines. LMRG's broad range of public-and private-sector clients obtain professional services which include: ¦ Market Research ¦ sisals and Valuations APP ¦ Devel.~r..,~ent Feasibility Analysis ' ¦ Real Estate Asset Evaluation ¦ Financial Advisory Services ¦ Real Estate Devel,;Y...~ent Representation All real estate issues are ultimately local in nature so the hallmark of LMRG's approach is its "ground up" methodology. This begins with intimate knowledge of the physical assets and the local market environment and works toward the preparation of ' development strategies and a recommended implementation approach having the highest likelihood of success. Practical knowledge of the development business and the financing processing as well as insight into trends revealed through fundamental research help to 1 assure project success. Client service is essential to Realty Group's mission. The individuals, corporations, ' governments and institutions who have employed LMRG benefit from the firm's adherence to the highest standards of ethical conduct, confidentiality, and professional responsiveness. Clients respect LMRG's uncompromising objectivity and its ability to offer them comprehensive counsel derived from the broad range of services provided by other LMRES and Legg Mason companies. 1 LEGG MASON REALTY GROUP, INC. ' • - SPE~ir1C SERVICES - Devel ~ ~r ...ent Feasibility and Project Planning Our clients benefit from Legg Mason Realty Group's understanding of what it takes to support the development of real estate. Using rigorous analysis and comprehensive objective market data, LMRG exhaustively analyzes all the components of supply and demand in order to create development strategies maximizing long-term value for our clients. Optimization of social and economic benefit can be achieved through our knowledge of planning disciplines, sensitivity to human concerns and sophisticated modeling of financial outcomes. Aspects of our work in this field include: ¦ Market analysis ¦ Highest and best use studies ¦ Feasibility and site analysis ¦ Corporate facilities and location planning ¦ Economic development strategies ¦ Site selection, assemblage and negotiation ¦ Privatization of public facilities Realty Group's professional staff have diverse backgrounds in real estate development, leasing and sales, real estate and public finance, planning and economic development. Our broad experience with large scale public and private projects enable us to create and execute strategies for the most complex development and planning projects. Economic/Market Research and Information Fundamental, careful analysis of the size and shape of supply and demand is the trademark of Legg Mason Realty Group's research. Our clients demand the best professional ' judgment, and have learned to expect critical analysis based on an informed understanding of market data. Realty Group uses proprietary statistical forecasting models to provide clients with critical strategic information sensitive to changing local conditions, regional and national trends. We assist our clients in their decision-making through in-depth analyses which include: ¦ Competitive product analysis ¦ Housing surveys ¦ Consumer opinion research ' ¦ Fiscal impact analysis ¦ Subscription market information ¦ Expert witness testimony ¦ Housing/economic development studies ~ i Realty Group monitors economic, demographic, regulatory, public works, devel pipeline and other local/regional trends in the Mid-Atlantic area comprehensively and continuously. Our Housing Market Profiles subscription product tracks new home sales throughout the region and is considered the homebuilder's standard for analysis of competitive positioning. Appraisal/Portfolio Valuation Legg Mason Realty Group's. appraisers understand the requirements of their financial institution, private owner and public agency clients for objective and independent valuations. Our high quality research and analysis conform to the toughest industry and government 1 standards. Well-grounded and thoroughly documented valuation opinions are ensured by the support of Realty Group's state-of--the-art computer systems, research databases and experienced market research professionals. The professional judgment of our MAI- designated managing appraisers and their senior staff is based on years of accumulated experience. Areas of expertise include: r ¦ Appraisal of residential developments and income-producing properties ¦ Current valuation and portfolio analysis ¦ Condemnation/tax appeal/bankruptcy valuation ¦ Expert witness testimony ¦ Due dilYgence review 1 Finanei~al projections to determine potential investment returns ¦ Consultation for buy/sell decisions Our appraisers annually value hundreds of millions of dollars worth of office, industrial, retail, hospitality, residential (ownership and multi-family) and recreational properties throughout the mid-Atlantic. and nationally. Finanaai Advisory/Real Estate Representation ' Legg Mason Realty Group counsels clients on the most advantageous negotiating approaches and financing structures available to them in the marketplace. Our knowledge of the capital markets assures our clients of practical, market-driven financial plans. ¦ Acquisition/disposition strategy ¦ Business location ' ¦ Real estate representation ¦ Gove~~~~ent development counseling ¦ Sale leaseback arrangements ¦ Offering, presentations for sale of assets ¦ Final workout for distressed properties i 1 I ~ i LEGG MASON REAL ESTATE SERVICES - SELEc: i ~D Exr~RIENCE - i nments undertaken b Le Mason Real Estate Services Recent and current ass g y gg illustrate the broad range of experience and the substantial qualifications of the company. the ¦ Market Analysis for Downtown Strategy. Market and econonuc consultant to City of Baltimore and the Greater Baltimore Committee in the preparation of a new downtown strategy -The Renaissance Continues. Extensive analysis of office, hotel and retail space downtown, and housing and tourist attractions. Worked closely with city staff in amulti-committee environment to produce a major policy document. ¦ Consultant to Governor's Commission on Growth in the Chesapeake Bay Watershed. Economic consultant to the Commission and leader of a team which included planning and fiscal consultants. Extensive knowledge of growth patterns in the Baltimore/Washington corridor and the costs and impact of sprawl. LMRG worked directly for the Commission, serving as both facilitator and technical advisor. ¦ Market Analysis -Development Strategy and Appraisal for New Community College of Baltimore Harbor Campus. LMRG evaluated the market potential for development of NCCB's Harbor Campus site at Pratt and Market Place and prepared a development strategy for the College. We projected the potential development costs, estimated the financial return from various uses and appraised the current value of the site. ¦ Real Estate Advisor to University of Maryland College Park. LMRG was retained by the University of Maryland College Park to advise the University on the potential for privatization of its real estate holdings, and specifically to devise a plan to ' privately finance the renovation of the University's Graduate Student Apartments. LMRG's recommendations have been endorse by the President, and will be formally presented to the University System Board of Regents this fall. ¦ Real Estate Advisor to Federal Agency. LMRG currently serves as real estate advisory to a Federal Agency considering a large scale relocation. As part of its services to this client LMRG has evaluated potential development sites in the Baltimore-Washington Region, and assisted in Federal procurement and budget deliberations including providing Congressional testimony. ¦ Consultant to the Maryland Community Development Administration. LM • just been selected to serve as consultant to the Maryland Community Devel Administration to provide economic, market and program analysis, appraisal and other consulting senaices. LMRG will advise CDA on the next two years on an as i needed basis. ¦ Market Analysis for Medical Mart. LMRG prepared a market feasibility study for ' the Medical Mart proposed for development over the light rail line adjoining the B&O warehouse near Oriole Park at Camden Yards. Our study involved an extensive analysis of medical convention and trade show activity throughout the ' world. This study is significant for development of an economic strategy in Baltimore in that it assesses the potential of a totally new devel~ment concept building on the existing strengths in medical research and bio-technology. ¦ Market Analysis for 13ayview Research Campus. Joht+t Sherwood, now with LMRG, prepared a market analysis for the development of Jens Hopkins Bayview Campus where the City's biotechnology development efforts are currently concentrated. Mr. Sherwood's analysis help guide the development oaf an incubator facility at the campus and led Johns Hopkins to revise its approach to dealing with private development of research by University faculty. ¦ Market Analysis of Hershey Medical Center Research Park LMRG evaluated the potential for development of a medical oriented university research park in Hershey Pennsylvania adjoining the Hershey Medical Center of the Pennsylvania State University. The analysis involved an extensive examination of the biotechnology industry and the potential for linkages between the L~Jniversity faculty and private firms. In this study, LMRG drew upon the resources of Legg Mason's equities research department which closely follows the bio-technology industry (see enclosed). ¦ Market Analysis and Consultant for Coldspring New Town. LMRG evaluated the i market support for additional residential units at the Coldspring New Town, prepared a market feasibility analysis for the project and advised the Department of Housing and Community Development on marketing the project to builders. Our work resulted in successful bids for all remaining residential parcels, but economic and market conditions have delayed completion of the development. ¦ Housing Study of Baltimore's Jewish Elderly Population. Associated Jewish Charities retained LMRG to eonduct a comprehensive stud of the housing needs of the ' Jewish population in Baltimore and to recommend a strategy for addressing these needs. This study, completed in 1990, resulted in a major commitment from Associated Jewish charities to an elderly housing initiative. ¦ Market Analysis for Redwood Tower. LMRG prepared a market feasibility analysis for a proposed high rise rental apartment project which was to be constructed over the City financed parking garage which has been constructed at Redwood and Eutaw streets near the University of Maryland and Orioles Park at Camden Yards. Our analysis indicted market support for the project. The garage has been con ~ ~ to accommodate an apartment building in a later phase but the developer has not to proceed with the development in the current economic climate. ¦ Analysis of Housing in Downtown Baltimore. LMRG prepared an analysis of the market and economic viability of new housing development in Baltimore City, with a focus on the downtown market. This study pointed up the financial gap between what the likely target markets for rental housing and affordable condominiums are able to pay and what it would cost to construct a range of housing types. Among its other findings, the study indicated that the price differential between existing housing in Baltimore City and that in the surrounding counties more than compensates for the higher tax rates on residential properties in the City. ¦ Market Analysis of Penn North and Virginia Woodlands Dupont Area for Lease Purchase Financing Program. Baltimore's Community Development Financing Corporation engaged LMRG to evaluated the potential for using an innovative lease- purchase financing program in various Baltimore neighborhoods. The program enables tenants to accumulate funds needed to purchase homes over a two to three year lease period. LMRG later provided CDFC with a cost benefit analysis of the proposed program. ¦ Due Diligence Analysis of Highlandtown Shopping Center. Legg Mason's Mid- Atlantic Center's fund acquired the Highlandtown Shopping Center in the Mid-1980' and successfully renovated and upgraded the center. LMRG staff evaluated the feasibility and market potential for this acquisition and advised the fund on the repositioning of the center. ¦ Economic Analysis of Special Benefits District in Downtown Baltimore. LMRG provided the Baltimore Downtown Partnership with an analysis of the impact of its proposed special benefits district on downtown property owners and assisted the Partnership director and its Board enlist the support of property owners for the district which will use special tax funds to support additional sanitation, security and promotional measures in downtown Baltimore. ¦ Market Analysis of North Avenue Retail D~stnct. LMRG prepared a market analysis for a proposed retail redevelopment near the intersection of North and Howard Streets between downtown and Charles Village for the Department of Housing and Community Development. The analysis resulted in a redevelopment plan for the site which has been partially executed by the City. ¦ Market Analysis of Germantown Town Center. LMRG prepared an analysis of the market support for the Germantown Town Center Development in Montgomery County, Maryland and its potential impact on existing retail areas in Germantown. The study was undertaken for the Montgomery County Council and resulted in the Council approving the development. 1 _ ¦ Fiscal Impact Analysis for Major Planned Unit Devel„~,..Yent. LMRG in con ~ • with Legg Mason's public finance department evaluated the fiscal impa proposed planned unit development which included over 900 housing units, 500,000 sq. ft. of retail and office space and a championship golf course. Our evaluation used computer models to predict the long term fiscal impact of the project and develop a tax increment fina~i~nQ structure to permit development of over $13,000,000 in road improvements for the project. LMRG is currently engaged in analyzing the ' fiscal impact of two other major mixed use development projects using internally developed fiscal i,~.~c~ models. ¦ Economic Analysis of Hunt Valley jTimonium. The Baltimore County Department of Planning and Zoning retained LMRG to evaluated future economic activity in the Hunt Valley/ Timonium area, which is a major employment center in the region. The analysis included an examination of the impact of light rail on retail, employment and residential uses in the area. ¦ Appraisal of B&O '~il~rehouse at Camden Yards. LMRG was selected by the State of Maryland as the th~ei "arbitrating" appraiser for the B&O warehouse at Camden Yards which was incorporated into the new Orioles Ballpark Complex. LMRG's work enabled the Stage to reach an out of court settlement with the owners of the warehouse at amulti-million dollar savings to the Stadium Authority. ¦ Appraisal of Bainbridge Naval Training Center. LMRG evaluated the market potential for development of major tourism and industrial facilities at the Bainbridge Naval Training Cent~ea for the United State's Navy. Our work included an extensive market analysis of the I-95 corridor and an economic analysis of potential uses at the site. ' ¦ Economic and Fiscal Impact Analysis of Growth Control Ordinance in Austin Texas. LMRG and Legg Mason's Government Finance Group prepared and economic and fiscal impact analysis of a major growth/ water quality initiative in Austin Texas for Citizens for Responsible Investment and the Chamber of Commerce. The effort gave us considerable insight into economic development activity in one of America's fastest growing high technology employment areas. ¦ Investment Advisor to Investor in Philadelphia Convention Center Hotel. LMRG and Legg Mason's Corporate Finance Department evaluated the feasibility and potential financial performance of the Philadelphia Convention Center Hotel for an ' investor who was considering a substantial monetary investment in the project. ¦ Market Analysis of Wilmington Civic Center. John Sherwood of the LMRG staff prepared a market feasibility study for a proposed civic center in Wilmington Delaware and has continued to advise the City on the development of this facility since joining the LMRG staff. ¦ Market Advisor to National Hockey League Team In conjunction with La j ~ 1 Buck, LMRG evaluated the market potential for development of a privately arena for a national hockey league team and the conversation of an existing facility into a mixed use hotel, convention and retail complex. ¦ Other Related Research and Information Sources. LMRG surveys all new residential developments of twenty units or more in the Baltimore Region on a ' quarterly basis and has amulti-year database on regional housing trends, including trends in the corridor. LMRG surveys commercial and industrial space in the Baltimore metropolitan area on an annual basis and has a three year history on leasing activity, rents and vacancy rates. LMRG prepares it own household, population and employment forecasts for Baltimore, Washington and Philadelphia, and authors the Urban Land Institute's Market Profile on Baltimore annually (see enclosed). LMRG's appraisal work provides the firm with operation information on hotel, retail, office and industrial development in the Baltimore area. JOHN R SHERWOOD, III ~ VICE PRESIDENT LEGG MASON REALTY GROUP, INC. EXPERIENCE IN AUDIENCE-SUPPORT, CONVENTION AND CIVIC FACILITIES, TOURISM AND VISITATION ' I n his 25 years of economic consulting, planning and community development work, Mr. Sherwood has been deeply involved in many studies related to audience-support facilities (civic and convention centers, arenas, exhibit halls, conference centers, theaters, auditoriums and similar projects) and the associated areas of tourist and visitor markets. r AUDIENCE-SUPPORT AND COMMUNITY FACILITIES--GENERAL Mr. Sherwood has had principal responsibility for conducting economic analyses of over 40 such projects throughout the United States. As a result of a professional involvement in this field dating back to the mid-1960's, he formulated many of the research and analytical techniques that are currently accepted practice in determining the market for and feasibility of developing such a facility. His studies clearly and concisely identify a community's audience-support status and future potentials, the impact of the proposed ' facility on the local economy and means of implementation, including financing. Many of the projects for which Mr. Sherwood has conducted studies and provided ' development advice are built and operating. This has provided him with the opportunity to observe the relationship between the economic studies work and the operating facility and to refine his techniques on the basis of this experience. These studies have demonstrated the strong relationship between a community's audience-support facilities, and its economic and civic life. AUDIENCE-SUPPORT AND COMMUNITY FACILITIES--SELECTED SAMPLES. Selected facilities studied by Mr. Sherwood are described below. It can be seen that r they represent a wide range of types and sizes and are located in many different parts of the country. r ¦ Prince Georee's Equestrian Center Arena--Mr. Sherwood is directing LMRG's study of operating and management strategies for this facility, which is currently under constuction in Upper Marlboro, MD. ¦ Dover Civic Center--I.MRG has been retained by the Delaware Development Office and the Civic Center Corporation to advise them with regard to development of an arena -based civic center to serve the Dover area. This work, which involves utilization and location analyses, is being conducted by ' John Sherwood. ¦ Empire State Pbaza. Albanv. New York--Utilization program fora ~ performing arts and meeting complex that is part of a major State development a~a. ' ¦ International (~Itural and Trade Center--Feasibility of developing a major complex to serve as the principal center of international activities in Washington, D. C. Included analyses of relationship between the proposed ' center and the local tourist market. ¦ First State Center. Wilmington. Delaware--Market study for a convention/civ~. center to serve the Wilmington region; follow-on work with the Mayor's Convention Center Advisor Committee. ¦ Convention Cuter. Orange Countv. Florida--Utilization and development program advice for this major Orlando area facility. ¦ Burlington C~iic Center. Burlington. Vermont--A multi-faceted arena- auditorium-exh~it hall to serve Vermont's largest city from a downtown lake- front location. The complex included space for the performing arts and offices for ca~.mity groups. ¦ Civic Center. Snringfieid. Massachusetts--Primarily an arena with a supporting exhibit hall that serves a wide range of sports and community events. ' ¦ Activities Center. Gainesville. Florida--An arena facility used jointly by the University of Florida and the City of Gainesville. ' ¦ Georgia World Congress Center. Atlanta. Georgia--Recognized as one of the finest in the nateon, this exhibit hall/convention center helped boost Atlanta to Class One c~vention city status. ¦ Charlotte Civic Center. Charlotte. North Carolina--A lar a exhi i i n- g b t o type facility in dow~66own Charlotte that has contributed to the city's economic vitality. ' ¦ SCOPE. Norfo'1~:. Virginia--A multi-functional arena-exhibit hall-auditorium on downtown u€6an renewal land. ' ¦ Hampton Roads. Stadium--Market and site location study for a major new stadium capable; of accommodating NFL football. The twelve communities comprising the I-Iampton Roads region (Norfolk, Virginia Beach, Newport News, etc.) c.,.:~:buted to the funding of this study. ¦ HamDtOn Roads; Motorsports Complex--Conducted for the Future of Hampton Roams Inc., the study of this facility resulted in the recommendation that a modem, $20 million track be built to serve major motor racing activities. The facility was proposed for development by the Hampton • ' Sports Authority, the formation of which resulted from the study. ¦ Civic Center. St. Paul. Minnesota--A large arena for which Mr. Sherwood ' provided comprehensive project review prior to the start of construction. ¦ Asheville Civic Center_ Asheville. North Carolina--A site analysis with the ' facility having been built at the recommended location and operating successfully. ¦ Downtown Athletic Club. Baltimore. Maryland--A private for-profit, high- quality devel„y..~ent for which Mr. Sherwood conducted market and feasibility analyses. ¦ Civic Center. Lancaster. Pennsv_ lvania--A community scale civic complex recommended to be developed in association with Franklin and Marshall College. ¦ Conference Center/Hotel. Chamnai~n Urbana. Illinois--A 60,000 square foot conference/civic complex proposed for development with a 200 room hotel adjacent to the main campus of the University of Illinois. ' ¦ Theater at Houston Center. Houston. Texas--Financial feasibility of a 2,000 seat theater m a pnvate mixed use complex in downtown Houston. ' ¦ Conference Centers, Alexandria. Virginia and Seattle. Washington-- Combination lodging/conference facilities for private clients. ' ¦ Other studies conducted by Mr. Sherwood include those for civic centers in Charleston, South Carolina; Chattanooga, Tennessee; Fort Wayne, Indiana; ' Greenville, South Carolina; Huntington, West Virginia; New Brunswick, New Jersey; Toledo, Ohio; Lebanon, Pennsylvania; and Wilmington, North Carolina. Consulting assignments not leading to a major report have been ' conducted in Aspen and Colorado Springs, Colorado; Spartanburg, South Carolina; and Grand Rapids, Michigan. ' TOURISM/VISITATION--GENERAL ' In addition to his work with audience-support facilities, Mr. Sherwood has considerable experience in the field of tourism/visitation. He has worked with a number of development organizations at state and city levels to provide information,data and ' strategies aimed at identifying an area's visitor resources and attributes and to devise ways of capitalizing on these to maximize positive economic impact. Examples of relevant studies include the following: ¦ Rhode Island Visitor Studv--A comprehensive analysis of the State ~ ' industry--its problems, potentials and strategies for improving its e importance. Included evaluations of attractions, support facilities and promotional programs. ' ¦ Mavnort. Florida--Study of the potential for development of the community of Mayport as a "theme" historic attraction. Conclusion that preservation of ' the fisheries industry was critical to retention of the town's character. ¦ Baltimore Briefing Center--As Vice President of BEDCO, Mr. Sherwood was responsible for conceptualizing and implementing development of this facility. It provides business visitors with information and data on metropolitan Baltimore and serves as a location for small meetings and presentations. ¦ Suear Creek. Charlotte. North Carolina--Stud of the investment potential Y inherent in a valley traversing heavily developed portions of Charlotte. The completed park was seen as a major attraction to visitors and a complement to the City's Civic Center and hotels. ¦ Longwood Farm. Mvrtle Beach, South Carolina-~ An "historic ~ farm" theme facility owned by a nonprofit foundation and a Main Street commercial entity owned by private investors, Involved analysis of the hotel and visitor industry in the Myrtle Beach area. smk/sherwood/oscella July, 1992 Economics Research Associates Affiliated with Drivers Jonas ' 15 March 1993 ' Mr. Ron Phillips Town Manager Town of Vail 75 South Frontage Road Vail, Colorado 81657 ' ERA Proposal No. 30649 Dear Mr. Phillips ' It gives Economics Research Associates (ERA) great pleasure to submit the following . proposal for services to reassess the demand for the proposed Performing Arts and Conference Center in Vail. As you are aware, ERA had the pleasure of performing a similar analysis in ' 1987, and is pleased to once again be considered for this assignment. ' The information provided as part of the RFP indicates the Town's continued strong interest in developing such a facility, and should serve as a base from which to initiate the research. However, as you are undoubtedly aware, the competitive market has changed since the earlier research. Moreover, there has previously been no specific program for the facility which could be tested in the market. As you will see in the material which follows, ERA anticipates updating the previous research as appropriate, conducting new primary research ' among the proposed key user groups, and synthesizing the information into a more refined and detailed analysis per the guidelines and objectives outlined in the RFP. We feel that ERA is uniquely qualified to conduct this analysis, not only due to its ' previous involvement and familiarity with the project, but also due to its long history of involvement in both the meetings market as well as resort environments, including mountain locations. The continued evolution of the global travel market, subtle changes in leisure trends, and increased desire on the part of all resort environments to achieve true economic balance, means Vail increasingly is competing not just within a Rocky Mountain content, but also within the broader resort arena. ERA believes no other firm in the United States can bring ' to this assignment the experience and depth of understanding of both individual areas and the trends which affect them. ' Moreover, as indicated in the RFP, the allocated tune frame for the assignment is relatively short. Through its proprietary M~ 1 tcOPOLL biennial survey of 6000 meeting planners within the Utited States, ERA has the ability to quickly access a prequalified group t with a custom survey to test not only the appeal of Vail as a meetings destination, but also to elicit specific comments on the proposed building program. We trust that you and the Task Force Selection Committee will find our qualifications and proposed work plan innovative and specific to the objectives outlined in the RFP. As requested, ERA agrees that the terms contained in this proposal will remain in effect for 60 388 Market Street, Suite 1580 • San Francisco, California 94111 • (415) 956-8152 Telex: 340890 (ERA SFO) Fax: (415) 956-5274 Los Angeles • San Francisco • San Diego • Chicago • Boston • Washington, D.C. • Fort Lauderdale Economics Research Associates ' Affiliated with Drivers Jonas Mr. Ron Phillips Town of Vail Proposal No. 30649 Page 2 days after receipt by the Town of Vail. Either of the parties whose signatures are affixed to this letter are officers of the Corporation and have full authority to enter into binding agreements with the Town of Vail. Should you or any members of the Selection Committee have questions concerning the content or format of this proposal, please do not hesitate to contact us at your earliest ' convenience. Once again, we appreciate being included in the list of potential candidates for this very important assignment, and look forward to the opportunity to once again be working with the Town of Vail. ' Res ctfull Submitted Pe Y ~ ~ J. Richard McElyea Executive Vice President i 1 ~ ~ Gregory L. C ' Senior Vice esident 1 t ' PROJECT ORGANIZATION Economics Research Associates is a unique fum within the field of consultants to the recreation industry. It has been in continuous operation for over thirty five years, and has performed in excess of 10,600 separate assignments for public and private clients during its ' corporate existence. With a network of six offices located throughout the United States, plus one in London, it has sufficient scale to be involved with and exposed to a wide variety of unique and challenging assignments. Yet, with a professional staff of approximately sixty, it ' is small enough to assign senior level individuals with extensive relevant experience to each assignment, and has the ability to share that experience within the organization to enhance individual professional knowledge base. One of the firm's continued strengths is the experience level of its staff. The average tenure of the senior staff members is in excess of fifteen years. None of the staff proposed ' for this assignment has less than eight years with the firm. Moreover, the same individuals originally involved with the previous 1987 assignment will once again be prominently involved with the current tasks. ' As will be shown in subsequent sections dealing with corporate experience, ERA has specific and extensive experience in the major areas of expertise required for this assignment. Those areas are involvement with mountain based resorts, public facilities such as conference centers and performing arts centers, and primary research techniques. Consequently, ERA will utilize its own staff for the present assignment, and will not need any outside consultants or subcontractors. The key members of the Team and their role is described below: • J. Richard McElyea. Executive Vide President: Dick will serve as Project ' Director, the same role he served during the previous 1987 study. Dick has over thirty five years in the consulting industry, has served on the Recreation Council for the Urban Land Institute for years, and has published several books and articles on planning in recreation and resort environments. • Jill McCarthy. Principal: Jill will serve as Principal Researcher for this assignment. Jill was also heavily involved in the previous 1987 analysis, particularly during the Phase II research and analysis. Jill has a national practice in the public facilities field, and is ERA's senior staff person serving this sector. t 3 • Chris Yoshi. Senior A~socia~ Chris will be responsible for design, administration, and analysis of all primary research. Chris was also involved in the 1987 assessment, and is also primarily responsible for the analysis of ' ERA's proprietary METROPOLL survey of meeting planners. • GreE~ L. Corv. Sr. Vice President: Greg will serve as Project Manager and ' key Liaison with the Town of Vail. Greg is ERA's principal staff person addressing the needs of mountain resorts and the ski industry, has worked with over thirty U.S. and Canadian areas, and has studied in excess of 100 areas. t Other staff may be used as appropriate as resource individuals. r ' 4 • PROJECT WORK PLAN ' Economics Research Associates is aware that three rinci al sources are available as P P background information for this assignment. These include ERA's previous research, the ' Tourism Techniques meeting planner survey (incorporated into ERA's previous recommendations), and the 1990 Jones and Phillips Associates assessment. The ERA material provided a clear view of the market as of 1987. The Tourism Techniques data provided good image data on Vail as of that date. However, ERA understands, the fuYn is no longer in business, and thus no opportunity exists to easily replicate the earlier primary research. The Jones and Phillips research attempted to update ERA's assessment using available industry ' data, but focused on substantive operational issues associated with the facility. Thus, while the available information is useful, no attempt has been made in the past to truly integrate the data into a concise set of recommendations. Also, until recently, no specific program existed which could be tested in the market among potential users. Thus, both the opportunity as well as the obligation exists to refine and augment the earlier work, ' synthesize the conclusions, and test the program acceptance among the user base. ERA's proposed work program is designed to accomplish this goal within the allowable tune frame. The appropriate tasks are listed below in sequence of initiation. Task l: Project Initiation and Sits Reconnaissance ' A necessary first step will be to meet with the Town of Vail representatives, members of the public, or other interest groups directly involved in the process to refine the work scope as appropriate, insure that all major issues are incorporated, inspect the proposed plans, and once again review the proposed site location for the facility. Prior to this meeting, ERA will have reviewed the information provided, determined gaps in the data and what elements need to be updated, and prepared a draft of the survey instrument to be used in Task 2. ' Task 2: Meeting Planner Mail Survey As described earlier, ERA routinely surveys 6,000 meeting planners as part of its M~ i KOPOLL series. It is proposed to use a subset of this highly qualified group and augment them as necessary as a sample to test items such as but not necessarily lunited to, the following: • Use of resort locations as meeting sites • Image or knowledge of Vail as a potential site ' S • Perception of competing mountain locations • Use of mountain versus alternative resort locations • Facilities demanded, and reaction to the proposed plan ' Group characteristics and meeting patterns In essence, this survey will. build on the earlier analysis, but will augment the previous attempt by testing additional points. Specifically, the adequacy or desirability of the proposed program, and propensity to use Vail in comparison to competing resort destination, both ' mountain and non-mountain locations will be tested. Because of the time required to initiate and complete a mail survey, it is iinperative to jointly agree on the survey content as soon as possible. At a minunum, ERA would suggest mailing the survey to the 2,500 corporate and associate planners whom are qualified by size of organization, scope of meetings and regional location. This group has a demonstrated high propensity to participate in this type of research, and we would expect a reasonable return rate targeting S00 completed responses. ' Task 3: Review of Local Market Characteristics Coincidental with the site review in Task 1, ERA staff would commence an update of the immediate market characteristics. Items which would be considered would include but not ' be limited to the following: • Expansion of mountain capacity, and resulting changes in visitor levels which i have occurred since 1987; • Additions to or other changes which have occurred in the bed base; ' Growth inn n- • o ski season visitation; • Changes in meetings or other public facility use or accommodations; • Current seasonality patterns, and occupancy experience by property type; and, ' Past visitor surve s t x y o e amine point of ongin, satisfaction level, spending habits, etc. 6 Task 4: Interviews with Accommodation Management ' Also as part of the update of current market conditions, it will be important to interview management of existing accommodations with meeting space to find out their current usage level, nature and origin of groups served, seasonality, etc. It will be equally important ' to learn the nature and type of groups which have not been able to be served due to lack of adequate facilities, and to whom this business was lost. Task 5: Detailed Meeting Planner Surveys Normally ERA would suggest a dual prunary research effort, augmenting the mail survey with focus group research. Vail is using this focus group technique among the residents of the area regarding design elements of the facility. However, ERA has found in previous analyses that focus groups among meeting planners are particularly difficult to orchestrate. Thus, ERA would suggest a program of telephone interviews with selected meeting ' planners to examine the same issues raised in the mail survey in a more qualitative fashion. A prime source of participants would be those whom have used Vail as a meeting site and those that would like to go to Vail but cannot fit within the existing space. Due to the difficultly in gaining access to this group, this task will be conducted on a best efforts basis throughout the life of the assignment. One of the principal outcomes of this analysis will be an estunate of lost business due to inadequate facilities. ' Task 6: Cultural User Interviews Although ERA is aware the principal focus of the assignment is on the conference and meetings market, it will still be important to assess the potential support from among local cultural and arts groups for the facility. These groups have previously been interviewed in terms of their current facility requirements, days of use, willingness or ability to pay user fees, ' and interest in using the proposed facility. These potential users will be interviewed again to determine whether their needs have changed. Task 7: Competitive Environment Update As noted in the base research, the competitive environment for conference centers in ' general, and for facilities in mountain locations continues to evolve and become more acute. Thus, it will be necessary to reexamine the regional competitive situation regarding facilities available, markets served, degree of usage, fees charges, etc. This examination will also take i ' into consideration the specific environment in which each facility exists, such as access from markets, bed base available, support facilities in existence, etc. Task 8: Industry Data Update The Jones and Phillips 1990 reseazch updated ERA's previous work in terms of ' published secondary source data from Meetings and Convention Magazine and other industry publications. New data should now be available to further augment and refine the earlier work. Items to be reviewed would include: • Number of meetings by type and size ' Location and facility preferences • Average attendance and seasonality • Factors influencing site selection ' The information now available provides in excess of a ten yeaz trend line for these considerations. This data is routinely used by ERA in its other assignments, and will be reviewed for its applicability to the proposed development program for Vail. ' Task 9: Preliminary Conclusions Presentation While it is anticipated that constant communication will be maintained throughout the analysis, and that informal meetings will occur, at this point ERA believes most of the information obtainable will have been generated, and that a working Charrate with the Town, ' the Task Force; and others as appropriate would be useful. During this session, preliminary conclusions regazding use, tazget mazkets, facilities required, impact of room nights, seasonality, etc can all be explored and reviewed. Such a work session will enable those ' members of the community most directly involved with or impacted by the proposed facility to have input into the conclusions being drawn to insure an accurate interpretation of need and support is obtained. Task I0: Detailed Programming and Recommendations Following Task 9 it will be possible to refine the preliminary conclusions and provide ' detailed programming and use guidelines. Items which will be covered will include, but not be limited to the following: 8 ' Review of and comments on the existing physical plan for the facility, incorporating the insights of meeting planners surveyed • An estunate of the annual user days, both during start up and at stabilized use • An estimate of the avers e g group size and the seasonality of use ' Target markets, both geographically and by user type • As assessment of Vails strengths and weaknesses relative to the regional competition as well as resort location competition • An assessment of potential user conflicts, if any, based on seasonality, facility ' requirements, etc • Estimated direct impacts in terms of room nights required, and the ability to provide those nights within the existing accommodation stock relative to seasonal occupancy patterns. ' Estimated direct spending on food and beverage, entertainment, merchandise, etc. These recommendations and finding will be provided fast in the form of a draft market ' analysis for internal review. Subsequent to such a review, comments and revisions will be made and the final document will be distributed. 9 PROJECT STAr r uJG Presented in the following pages are resumes for each of the key individuals proposed for this assignment. As stated in Part 1, Project Organization, ERA contains all the necessary ' skills to undertake the proposed work scope without requiring additional team members. Thus the resumes included are those only for ERA staff. It is also ERA's policy to include in a project those staff whom have the most direct experience with a particular assignment, regardless of their home office location. Thus, this ' project will be a collaborative effort between the San Francisco and Boston offices of the firm. ' 10 i GREGORY L. CORY, Senior Vice President Qualifications in Ski Area Analysis i Mr. Cory has accumulated nearly 15 years experience in analyzing the demand for hotels, resorts, and recreation-oriented facilities within the United States, the Caribbean, Mexico, Central America, and Southeast Asia, and has made this field the primary focus of his professional experience. An avid skier, Mr. Cory has conducted over 35 separate ski development analyses, during the course of which he has visited and studied over 75 separate international and US ski areas. One of the more interestin r ' g p o~ects in which he has been involved has been the expansion plans of Yeong Pyong, one of the few ski areas in Korea, into a larger, four season oriented project. Careful programming has been required to consider the vacation habits and cultural needs of the Korean people. ' Within the United States, Mr. Cory has performed market and financial analysis for several proposed developments. These have included: Mayflower, adjacent to Deer Valley, Utah; Teal Ranch, near Pagosa in Colorado; Adams Rib, near Eagle, Colorado; Denali, on the south massif on Mt. McKinley, Alaska; and Garibaldi, north of Vancouver, British Columbia. In each case, complete market, financial feasibility, and competitive analyses were undertaken. Studies specific to subcomponents of existing facilities have also been performed. These include mountain capacity and/or real estate expansion programs for Alpine Meadows, Sundance, Schweitzer, Mt. Bachelor, Stratton, Squaw Valley, Northstar, Telluride, Mt Hood Meadows, and Stowe. Also for Stratton and Stowe, Mr. Cory conducted a detailed commercial support analysis, documenting incremental square footage required in support of the Mountain expansion, tenant mixes, supportable rents, phasing, and operational guidelines. In other studies the focus has been on incorporating recreational elements to augment seasonal fluctuations in business, such as a proposed major meetings facility at Vail, and additional golf courses at Stowe ' and Breckenridge. Still other analyzes, such as an assignment for Royal Gorge, have focused on recommending required bed base and other support facilities to optimize mountain utilization. t Prior to joining Economics Research Associates, Mr. Cory maintained a practice as a consultant in urban economics and planning, serving both private clients and other ' major consulting firms. In the years he maintained his practice, Mr. Cory gained substantial experience in other areas of consulting, including conference centers, recreational centers, parks and public recreation, and similar facilities. ' Mr. Co holds an un r ry de graduate degree m economics from the University of California. He took postgraduate work at the University of Oregon, culminating in a Master's degree in urban and regional planning. This degree has been augmented by additional graduate work at the University of California, Berkeley's School of ' City and Regional Planning. i 1 i 1 ' J. RICHARD McELYEA, Executive Vice President Qualifications in Public Facilities Economics and Resort Planning Richard McElyea s background includes more than 25 years of experience in economic consulting and supervising in a wide range of assignments in urban land development; transportation; recreation/tourism economics; auditoriums, theaters, arenas, and convention centers. He has managed offices in San Francisco, Los Angeles, New York, and Washington D.C. . One of Mr. McIIyea's mayor fields of ;....i,hasis is public assembly facility planning, specifically. for auditoriums, arenas, and convention centers. Some of the major projects, t which aze c.~....rleted and operating, that he participated in are the Anaheim (California) Convention Center, the Sacramento (California) Convention Center, the Tucson (Arizona) Community Center, the Los Angeles (California) Music Center, and the Hint Center for ' Performing Arts in Eugene (Oregon). Mr. McElyea also sL.r Wised the mazket and financial analysis for the Columbus (Ohio) Convention Center and a Milwaukee (Wisconsin) Sports Arena. Mr. McElyea has recently sLi, rised a detailed market and financial analysis of a ' major expansion of the San Jose, Californa Convention Center, which is now under construction. Other recent public facilities projects on which Mr. McElyea has participated, or supervised are the expansion of the Phoenix Convention Center, an 18,000-seat azena for ' Orange County, California, had a similar sized major arena for the City of San Jose. Mr. McElyea is also involved with recreation and tourism clients on a national and ' international basis. His ,:,..i, ~rience includes responsibility for destination resort and second- hvme development programs domestically in Hawaii; Hilton Head Island and Kiawah Island, South Cazolina; Stratton, V;,....ont; Monterey, Cannel, Napa Valley, Lake Tahce, San Diego, ' and Palm Springs, California; as well as projects in Arizona; Utah; Colorado; Alaska; Florida and Victoria, British Columbia. F:. an international standpoint, Mr. McElyea has had responsibility for destination and second-home development programs in the Caribbean; the Algarve region of Portugal; as well as Acapulco, Puerto Vallarta, Mazatlan, Manzanillo, Guadalajara and Baja California, Mexico. ' R,:.r.~;,sentative clients and projects which Mr. McElyea has served are Pinehurst, North Carolina; Sea Pines Plantation and Palmetto Dunes on Hilton Head Island, South Cazolina; Stratton Mountain Resort, Vermont; Kaanapali, Maui, Hawaii; Snowmass at Aspen, Colorado; ' Seibu Realty's Makena development on Maui, Hawaii, together with Robert Trent Jones, Jr., golf azchi~~;,,,~; Jack Nicklaus' Bear Creek project in Rancho Califonia; La Costa, California; as well as the Las Hadas destination resort in Manzanillo, Mexico; and the proposed Denali ' State Park in Alaska, and Adam's Rib in Eagle, Colorado. t ' CHRIS L. YOSHII, Senior Associate Qualifications in Public Assembly Facilities and Primary Research Methods ' In the past eight years, Mr. Yoshii has conducted numerous studies for public assembly facilities and primary research assignments related to conventions and tourism development projects. Mr. Yoshii serves as ERA's primary consumer research expert. ' Mr. Yoshii heads the ERA syndicated study N~ i xOPOLL which is a survey of major meeting planners relative to the North American meetings and convention market. METROPOLL, now in its ' fourth edition, measures meeting planners attitudes and images of SO major destinations throughout the U.S including Boston. Mrr i xOPOLL is often used by Convention and Visitors Bureaus in tourism planning for economic development. IvurixOPOLL clients include 30 Convention and Visitor Bureaus ' in North America. Mr. Yoshii also heads the ERA syndicated study INTERPOLL which is a survey of major international meeting planners relative the international meetings and convention market. INTERPOLL, is currently ' in its first edition which measures meeting planners attitudes and images of 16 major Pacific-Asian destinations. INTERPOLL clients include several leading National Tourism Offices. ' The City of Long Beach was considering expansion of its convention and entertainment center. As part of the research effort, IVir. Yoshii structured, organized and administered a telephone survey of existing and potential users. The research .project was a critical element in determining current need ' and usage, as well as the sizing of the expaasion proposal. Mr. Yoshii conducted similar studies on the potential for expanding the Reno/Sparks Convention Center. For the Town of Vail, ERA conducted a detailed market demand, facility planning, financial feasibility, ' and fiscal impact analysis for a new convention center. Critical to this analysis was the economics of convention facilities in a resort setting with particular emphasis on lodging availability and quality assessment. Mr. Yoshii, also conducted financial and fiscal analysis of this assignment. ' Mr. Yoshii coordinated the survey research and analysis for the San Francisco Convention and Visitors Bureau survey of visitors. Over 2,000 visitor surveys were conducted in numerous hotels and attractions over 12 months. Mr. Yoshii t.~~:.rdred quarterly and annual reports which were integral lII estimating visitor characteristics, impacts, and opinions. Mr. Yoshii conducted a tourism and economic planning study for the communities along the north ' shore of Lake Tahoe, California. The analysis included a thorough search of secondary data and an extensive array of resident and visitor surveys. This study provided the base economic data for regional planning and implementation. ERA also recommended economic development strategies ' through improving the tourism industry. A similar study was conducted for the City of Santa Cruz, a coastal tourist destination in Northern California. ' Prior to joining ERA, Mr. Yoshil gained significant experience in primary market research as a Project Director for ERA's market research affiliate, Survey Research Associates. Ivlr. Yoshii specialized in the travel and tourism industry, completing assignments for such clients as World Airways, United ' Airlines, AMFAC Hotels, and Village Resorts. Mr. Yoshii received a B.A. in economics from the University of Califonua, Davis, specializing in market research. JILL A. MC.CARTHY, Prindpal Qualifications in Public Assembly Facilities Consulting ' In the area of public assembly facilities consulting, Ms. McCarthy's work encompasses market, economic and financial analysis including concept and facility programming; financial and ' operating analysis; fiscal and economic impact assessment; and policy, management, and marketing planning. ' Ms. McCarthy has managed numerous feasibility studies for both the development of new, and expansion of existing.public assembly facilities throughout the United States, including a new AAA baseball stadium in Rochester; the Connecticut Convention Center in Hartford; the Providence Convention Center; the Baltimore Convention Center; the Greensboro Coliseum Complex; the Manchester Civic Center, the War Memorial Stadium in Buffalo; the Vail Congress Hall; the Santa Fe Conference and Performing Arts Center; as well as others. The ' methodology for each of these feasibility studies encompasses a combination of primary survey research and data collection and analysis that typically involves an evaluation of existing conditions (historical data analysis); surveys of potential users; analysis of policy, management ' and marketing issues. The feasibility studies often are conducted as part of a team of consultants, including architects, legal and bond counsel, developers and other disciplines. In the area of management and financial analysis, Mx. McCarthy has conducted several major ' assignments, including a financial review of development proposals for a new stadium in San Francisco; an evaluation of alternative management options for the Jacob Javits Convention ' Center in New York City; a management and marketing plan for the new, expanded Albuquerque Convention Center and the Albuquerque Convention and Visitors Bureau; and a Booking Policy Study and Management Audit of the Los Angeles Convention Center and ' Greater Los Angeles Convention and Visitors Bureau. For the Jacob Javits management study, case studies were conducted of seven major convention centers in the United States, regarding their management organization and subsequent impacts in the goals and policies of the facility; the type and level of activity; economic and financial performance; and various relationships with related industries. A decision-making model was developed in order to evaluate the various management options and related policy, financial and economic implications. ' Other types of consulting assignments involving developmental, economic impact and other issues include provision of technical assistance to the City of San Francisco in the review and ' evaluation of developers' proposals for a new stadium (for baseball and football) and arena (for basketball); assessment of alternative uses and economic and fiscal impacts for reuse of the War Memorial Stadium in Buffalo; and preparation of expert testimony for determining the value of a domed stadium with major league baseball and football as primary tenants. As a national expert in the public assembly facilities industry, Ms. McCarthy served on the Urban Land Institute's panel in Denver, which reviewed development proposals for a new convention center and made the final site recommendation. Ms. McCarthy holds a Bachelor of Arts degree from Lewis and Clark College in Portland, Oregon; and a Masters in City Planning from the University of Pennsylvania. i ' EXPERIENCE RECORD Economics Research Associates is roud of its re utation for ob'ective and creative P P J analysis and of our contributions to well-executed and successful projects and marketing programs. Since 1958, we have conducted over 10,500 assignments providing essential economic and planning analyses for corporations, financial institutions, governments, and land owners. Innovative projects to which ERA has made important contributions include: the world's most successful tourism attraction Disney World; destination resort Kaanapali, ' special event 1984 Los Angeles Olympics; and mixed-use real estate development Irvine Ranch. ERA pioneered many of the research techniques and analytical models which are now widely used in land use economics and concept development. We approach each project as a unique assignment, and use creative thinking, structured analysis, and common sense to develop programs, plans and answers for our clients. ' Among ERA's areas of specialty are Real Estate, Hotels and Resorts, Recreation and Tourism, Public Assembly Facilities, and Economic Planning and Policy. Our work ' encompasses all stages of a project from initial concept development and feasibility studies to consulting on project implementation, marketing, and operations. SERVICES TO i rte REAL ESTATE INDUSTRY ERA real estate development services include concept development, market studies, ' financial analysis, market penetration strategies, structuring of leasing programs, solicitation of joint venture partners, site location analysis, and packaging of complex projects. While ERA's services are extremely unportant to the smaller development firms which do not have ' similar expertise in-house, the major development firms will often solicit a second opinion from ERA on particularly complex or innovative projects. The Rouse Company employed ERA in just this manner for both Faneuil Hall and Columbia New Town projects. Knowledge of the Development Commun ' ERA most likely has greater familiarity with the regional, national and international land development community than any other firm of its type. ERA has worked directly for or has evaluated the proposed projects of the following major development organizations: ' Chevron Land and Development, Crocker Land Company, Gerald D. Hines Interest, The Irvine Company, Hyatt Corporation, Homart Development, Marriott Corporation, Sutter Hill, Weyerhauser Properties, Southern Pacific Land, The Ernest Hahn Company, Olympia York, ' Campeau, Wilson Gates, Daon, Cadillac Fairview, the Rouse Company, and many others. Development Financing ERA understands land development financing from both the private and public perspectives. One of the most frequently cited reasons for securing an ERA study is project ' feasibility documentation for financial institutions. ERA studies have contributed to the 1 financin of billion g s of dollars of real estate development both m the United States and overseas. Dedication to Objectivity ' ERA's operating philosophy is to provide high level and objective consulting services in the area of land use and land development economics. ERA does not provide brokerage services, leasing services, nor does it assume equity positions in development projects because ' such activities could compromise consulting objectivity. PUBLIC ASSEMBLY FACII.ITIES ERA is one of the country's leading consultants in the field of convention centers, conference centers, performing arts facilities, and sports stadiums and arena. Below are a brief list of selected assignments in which members of the consultant team have been involved. A more complete description of these and ,other assignments, complete with contact names are ' contained as an appendix. TOWN OF VAIL, COLORADO Feasibility Study of the Yail Congress Hall The Town of Vail retained Economics Research Associates, in addition with Hall ' Goodhue Haisley and Barker, to analyze the feasibility of developing a convention center in the community. The study was conducted in two phases" Phase I included an evaluation of market support and preliminary indications of a building program, and Phase II incorporated program refinement, site analysis, funding, operations analysis, and estimation of economic impacts. The Phase I market analysis indicated support for a facility featuring a large ballroom banquet hall, plus breakout meeting space and lobby/prefunction support spaces. The Phase II analysis used these projections as a basis for further testing of project feasibility. MEYER PROPERTIES Final Market Analysis: Expansion Potential for Silverado Silverado Country Club has developed into one of the more successful regional ' conference resorts in California. Constrained by lunited real estate development opportunities, as well as overutilization of its existing resort facilities, the owner retained ERA to develop the expansion program for the property. Through a ' combination of primary and secondary research, detailed recommendations were made for real estate products, meeting space requirements, club structure, amenity features, and operations. 2 ' TRUST FOR PUBLIC LAND Market Support for Lodge and Campground Development at Cascade Ranch on the San Mateo Coast Through a complex series of land transactions engineered by the Trust for Public Land, a nonprofit entity, the 4,000-acre Cascade Ranch on a scenic stretch of the California coast was acquired for public uses. Almost 3,000 acres was conveyed over to the ' California Department of Parks and Recreation, and another major parcel was sold to the State's Coastal Conservancy for retention as an agricultural preserve. ERA was then hired to assess the development potential of the remaining 476-acre parcel for hotel (lodge and restaurant), conference, and campground uses. In the process, ERA surveyed unique coastal lodging properties from Mendocino to San Luis Obispo, and campgrounds throughout Santa Cruz County. Working within various physical, ' regulatory and market contrainsts, ERA formulated a concept for the proposed development, and forecast achievable lodging rates and occupancy rates for all recommended accommodation types., CITY OF CHELAN ' Evaluation of Market Support for Conference/Community Ce»ter Development in Chetan The City of Chelan retained ERA in November, 1986, to provide an updated evaluation of market support for multipurpose conference and community center facilities in this ' small tourist/agriculture-based central Washington community. While an earlier totaling 10,000 square feet, the updated analysis produced less positive results. An intensive market analysis evaluated Chelan's market attributes, the competitive environment in ' the northwest region, and detailed recent trends in the conference/convention market. ' CENTENNIAL REAL ESTATE COMPANY Market Analysis of Semiahmoo Cove ERA tested the markets for lodging, conference, residential, and retail development at ' Semiahmoo Cove, a major destination resort/residential community in Washington State. In order to provide a development strategy for the resort, the research team conducted field trips to the most comparable and competitive resort/residential; destinations in the Pacific Northwest; surveyed the project environs for new resort/residential development activity; interviewed industry representatives; and examined the tourism and convention volume of the major markets surrounding the project. In addition, in order to evaluate the potential of positioning Semiahmoo as a resort/conference site, a telephone survey of meeting places in the Pacific Northwest was conducted. ' OLD STRUBRIDGE V]Q,LAGE Conference Center Feasibility Economics Research Associates was retained by Old Strubridge Village to conduct a market and economic feasibility study focused on a proposed conference center in the Village. ERA's principal assignment was to substantiate market support for the conference center, and the consultant staff conducted a preliminary operating analysis 3 ' in order to test the overall feasibility of the project. The market analysis featured extensive surveys of meeting planners in New England, and in addition, considered the potential of two alternate land uses for the project, including a golf course and hotel. P & D TECHNOLOGIES, INC. Residential and Visitor-Serving Uses Market Analysis: Bixby Ranch, Santa Barbara Economics Research Associates was retained to evaluate the market potential for the development of a portion of the Bixby Ranch property located in the northern coastal ' area of Santa Barbara County, California. ERA examined the market support for constructing a lodging facility and associated conference center, service support facilities, and residential products on the Ranch. In addition, the consultant staff provided the client with recommendations relating to product type, pricing, and estimated absorption for the residential component, and projected the potential performance of the visitor-serving component. Following a major design competition, ERA was selected to prepare the market feasibility study to determine the best mix of product to develop this 24,500-acre ranch, ' including eight miles of coastline. Proposed uses include resort hotel, conference center, estate housing, condominium housing, golf course, tourist-serving commercial and equestrian facilities within a planned gate-guarded community. INCLINE VII.LAGE GENERAL IMPROVEMENT DISTRICT Evaluation of the Proposed Incline ~Ilage Conference Center The IVGID retained Economics Research Associates to evaluate the proposed development of a new Incline Village conference Center in the community. ERA's ' evaluation consisted of an examination of market support and target market activity for the new facility, as well as a financial analysis and an estimation of economic impacts .resulting from project implementation. Based on ERA's analysis, a $2 million funding package was approved by the Reno/Sparks Convention and Visitors Bureau. GEMINI DEVELOPERS, INC. Market Support for HoteUConference Center in Pacifica, California Gemini Developers retained ERA to prepare a market evaluation of the visitor-onented commercial potential for the company's property located on the coast near San Francisco. The study focused on the potential for a hotel/conference center and contained an overview of conference center development throughout the United States. ' CITY OF WAUSAU WISCONSIN Market Feasibility for a Conference Center in Wausau Economics Research Associates performed an economic feasibility study for a proposed conference center and hotel in the City of Wausau, Wisconsin. Information on hotel 4 ' and convention activity was collected by ERA from visitor and convention bureaus in order to gauge the area's market for such a facility. STATE OF MARYLAND -DEPARTMENT OF NATURAL RESOURCES Conference Center Feasibility ' For the State of Maryland Department of Natural Resources, ERA undertook a review of previous analysis leading to the possible development of an executive conference center in western Maryland. T~vo basic types of such centers were identified and alternative sites were evaluated in terms of these two types of centers. Subsequently, ERA provided pro forma financial analyses of the different types of the conference centers and compared the financial requirements with the space availability and other characteristics of the two sites. The results of the ERA analyses are currently under study by a specially appointed task force, with the expectation that one or the other of the sites will be supported for further development. DISNEY DEVELOPMENT COMPANY Preliminary Evaluation of Allernative Development Concepts for the Golden Oak Ranch ERA was retained to evaluate alternative development concepts for the 700-acre Golden Oak Ranch in California. The three alternative concepts considered were a conference center-oriented resort; a conference resort with residential community; and an exclusive golf club residential community. The tasks undertaken by ERA included: a conference market overview; a survey of resort conference facilities; a survey of private golf club developments; a survey of residential development in the market area; and a financial ' analysis of the conference resort and golf club developments. CENTER FOUNDATION FOR CIVIC AND PERFORMING ARTS Evaluation of Market Support for a Mullipurpose Community Center in Lewis County, ' Washington Economics Research Associates was retained to analyze the market support for conference%onvention/exlubtt, community use and performing arts facilities as separate, singular or combination use structures. The market analysis included a national and state overview of the market for the above facilities. A detailed market analysis (supply and demand) was conducted for the local, regional market area. Over 100 potential facility users were interviewed to determine estimated facility use days by market segment. Competing and complementary, existing or planned facilities in the market area were inventoried. Levels of utilization by event type were documented. Case study information on similar community facilities was also presented. 5 KIAWAH ISLAND COMPANY Market Potential for Executive Conference Center ERA was retained to determine the potential market demand for a small executive conference center as part of the resort development on Kiawah Island, South Carolina, and in addition, to recommend a general program for such a facility. PINEHURST, INC. Market Potential for Expanded Conference Facilities ERA evaluated the market potential for expanded conference facilities at Pinehurst in North Carolina, including analysis of alternative development options, such as expanding the existing hotel facility or development of a freestanding conference center. HERCO ' Market Analysis Economics Research Associates was retained by HERCO to review the Hershey Lodge and Convention Center and to determine the potential for expansion of the existing sleeping and meeting facilities. The study focused on unproving occupancy levels during the shoulder and off-peak months which historically have been late November through March. ERA's work included a review of existing market activity, a review of competitive/comparable meeting facilities, a survey of 100 meeting planners, and an analysis of market support for additional group meeting activity at the Hershey Lodge. ' SKI INDUSTRY An important area of ERA's work is the field of resort planning. The company has performed analyses for major resort and recreation projects throughout the United States and internationally, a large portion of which have been for ski and ski-related developments. ' ERA's advice and guidance results in pragmatic and creative development programs, operations parameters, and marketing and management action plans. We have consulted on some of the most celebrated ski areas as well as many new proposed projects including: - Vail, Colorado - Snowmass Resort, Colorado - Telluride, Colorado - Wolf Creek Valley, Colorado ' _ Lake Catamount, Colorado _ Adam's Rib, Colorado Mayflower Resort, Wasatch Co., Utah Heritage Mountain, Utah - Galena Resort, Tahoe, California - Squaw Valley, California ' _ Northstar-at-Tahoe, California _ Independence Lake, California Mt. Shasta, California Peppemnint Ski Area, California - Sugar Bowl, California - Mt. Bachelor, Oregon Pelican Butte, Oregon = Early Winters, Washington Snowcreek Resort, Chelan, Washington Mt. Schweitzer, Idaho - Mt. Mansfield, Stowe, Vermont - Stratton Mountain, Vermont - Mount Greylock, Massachusetts - Giant's Ridge, Minnesota 6 - Grand Targhee, Wyoming - Sundance Ski Resort, Utah - Royal Gorge Resort, California - Mount Hood Meadows, Oregon - Mont Glosford, Quebec, Canada - Mount Garibaldi, B.C., Canada - Dragon Valley, Korea A description of the specific work conducted by members of the proposed consultant team on these assignments is listed below. MT. MANSFIELD CORPORATION Master Plan Programming for Mt. Mansfield, Stowe, Vermont Mt. Mansfield recently embarked on amaster-planning effort for its base area property. ERA was retained to provide detailed programming evidence for the plan to include base facilities, associated recreational amenities, real estate, and marketing direction. The analysis included extensive competitive and comparable assessment, primary surveys and focus groups, and detailed financial modeling to test the viability of alternative programming elements. STRATTON MOUNTAIN CORPORATION Stratton Mountain, Vermont Stratton Mountain, Vermont, is one of the premier ski areas in the northeastern United States. As a basis from which to expand its real estate operations, and enter into full development of its mountain capacity, the Stratton Mountain Corporation retained ERA ' to examine the market potential for various real estate products and to size and phase the requisite support facilities, amenities and commercial outlets. As a result of the analysis, Stratton was able to identify a major shift in buyer profile, motivation, and product preference. ERA's recommendations on real estate products were implemented, and targeted sales were achieved ahead of schedule. ' ARVIDA CORPORATION Telluride, Colorado ERA has retained by the Arvida Corporation to analyze the financial risks and opportunities of becoming an equity partner in the proposed Telluride Mountain Village expansion in Colorado. For this assignment, ERA was asked to conduct an independent analysis of the most critical aspects of the Telluride development proposal. The analysis focused on evaluation of skier projections and skier-related revenues; potential real estate land sales including single-family lots, condominium properties, and commercial properties; rate of sales and pricing assumptions; and the growth and demographics of ' Telluride's primary market areas. ERA was also asked to comment on whether or not there were sufficient factors in favor of Telluride to enable it to make a dramatic improvement in its share of the market, and to become a highly sought after destination resort. TRIMONT LAND COMPANY Northstar-a~7tihoe, California ERA's involvement with Fibreboard Corporation's subsidiary, Trimont Land Company, began in 1966 with an analysis of their Lake Tahoe holdings. Out of this assignment evolved the concept for Northstar-at-Tahoe, ayear-round planned resort community offering a wide range of recreational activities (including skiing, golf, tennis, hiking, and horseback riding). Since detailed planning began in 1970, ERA has performed 14 studies for the developer, including analyses of real estate pricing and absorption, as well as hotel and commercial potential. MT. BACHELOR, INC. Mt. Bachelor, Oregon Economics Research Associates has been retained by Mt. Bachelor, Inc. on several occasions to assess the Mt. Bachelor Ski Area's position in the marketplace, and to examine ways of enhancing that position in order to support the proposed expansion program. The focus of one study was to determine how to increase Mt. Bachelor's penetration in the destination skier market. ERA prepared an extensive survey, which was sent to skiers in Washington, Oregon, and California to determine Mt. Bachelor's image as a ski destination relative to 17 other major ski areas in the West. A subsequent analysis focused on target markets for duect flight promotional marketing. SCHWEITZER, INC. Mountain Expansion for Mt. Schweitzer ERA was retained by Schweitzer, Inc., to assess the future market potential and ' development opportunities at the Schweitzer Ski Area in northern Idaho. In this assignment, ERA projected the skier visitation levels which could be achieved with the proposed ski area expansion, and the level of support for the proposed mountain village at the base of the ski area in terms of overnight accommodations, commercial ' development and support recreational facilities. ERA also projected the demand for real estate products at the ski area, and recommended a development program based on these findings. ERA then tested the financial ramifications of four development scenarios at Schweitzer. ' SSANGYONG COMPANY Dragon Valley, Korea ERA was retained by the Ssangyong Company (one of Korea's largest fums) to evaluate the existing operations at the Dragon Valley Resort and to prepare along- range master plan. Dragon Valley is presently a winter resort and plans are for it to become ayear-round resort area featuring snow skiing, golf, tennis, and water-related activities. ERA also acted as the company's representative in selecting and managing planners and architects as well as ski hill, golf course, and other special use consultants. 8 SUNDANCE Elr i r.RPRISES Sundance Ski Resort Provo, Utah In 1990 ERA was retained by Sundance Enterprises to evaluate the existing ski operations and to make recommendations for improved profitability and expansion potential. The object of this analysis was to dramatically increase the size of the area, nor to greatly expand the project, but rather to optimize operating efficiency. Items covered in the analysis included a detailed assessment of each of the operating departments of the area, and recommendations regarding potential additional amenities which would be compatible with the existing resort, and the appropriate scale and character for additional room stock. ROYA L GORGE RESORT Royal Gorge Resort California In 1989, ERA was retained by Royal Gorge Ski Area to help assess the expansion potential for this highly successful cross country area. The owner recognized the need to provide additional recreational facilities and greater bed capacity in order to decrease the reliance on weekend utilization. For this research ERA relied on extensive consumer surveys, focus groups and comparable cross country area assessment. Program recommendations included phasing, sizing, supportable room rates for hotel products, real estate recommendations, and proper program sizing and phasing for other recreational facilities being incorporated into the development. i U.S. FOREST SERVICE Mount Hood Meadows, Mount Hood, Oregon For this regional ski area, ERA provided several analyses in support of an application to the U.S. Forest Service for expansion of the mountain and the creation of onsite accommodations. ERA performed an assessment of the supportable skier days under each of the alternatives under consideration as part of the EIS, which required a careful analysis of the dynamics of the Oregon state market, and an estimate as to the potential for incremental regional destination skiers. GARIBALDI ALPEN RESORTS ' Mount Garibaldi, British Columbia, Canada Mount Garibaldi is a proposed project half way between WhistlerBlackcomb and Vancouver. In 1990 ERA performed an extensive market analysis for the proposed project in support of an application to the Canadian Government for development permits. Estunated number of skier days, appropriate real estate product mix, support commercial requirements, etc., were all incorporated as part of the analysis. A preliminary financial analysis was also facilitated in response to an updated and expanded development plan. 9 ' MITCHELL ENERGY Lake Catamount Colorado ERA prepared a series of reports to be used by Mitchell Energy for the Lake Catamount master plan submittal. The proposed Lake Catamount development is envisioned as a "sister" resort to Steamboat Springs, which is located 10 miles south of the subject property. The plans call for the development of a ski area, golf course, tennis complex, recreation/swim center, equestrian facilities, marina, hotel/conference center, two commercial villages, and a total of 3,800 residential units. ERA's reports covered the following subjects: recommended development program, feasibility analysis, economic impacts generated by the resort development, and fiscal impact generated by the resort development. HBE CORPORATION Adam's Rib-Eagle, Colorado The HBE Corporation retained ERA to conduct an in-depth market analysis, financial feasibility analysis, and development strategy relating to Adam's Rib, the proposed ski and four-season resort in Eagle County, Colorado. This proposed project is of relatively large scale with 4,000 dwelling units and a 10,000-skier capacity, For this assignment, ERA conducted in-depth, on-site surveys of 25 major comparable and competitive resort/second-home developments throughout the United States. This extensive competitive analysis enable ERA to gain information on the resorts' operations, physical characteristics, and financial characteristics in order to draw implications for the proposed Adam's Rib project. The project received U.S. Forest Service and County approvals, but has been held versus pending corporation of engineers wetlands approval. ERA has performed subsequent analyses on behalf of the corporation as part of this process. BINGHAM ENGINEERING INC. Mayflower Resor~Wasatch County, Utah ' In 1982, ERA was awarded a contract by Bingham Engineering, Inc., in Salt Lake City, on behalf of a Dutch investment group to study the possibility of developing a ski area and summer resort complex that would interconnect with the Deer Valley Ski t Area in Utah. This project involved a unique concept of employing two separate resorts with different themes sharing the same mountain operations. Another unique element of this project was the intense and extensive planning and review process that was employed by Wasatch County. In this instance, eminent planners and engineering consultants were hired by the County to act as the review team on behalf of the County for all plans submitted by the developer. Final approval of the plans took fj several months to achieve, and involved a number of intensive workshop sessions, ¦ detailed financial programming, and sensitivity testing of alternative development scenarios. In 1989 ERA undertook a re-examination of the original analysis as part of a pending settlement of surrounding condemnation of part of the property for the Jordenelle Reservoir. 10 U.S. ARMY CORPS OF ENGINEERS ' Galena Resort Environmental Impact Statement ERA served as a key member of an interdisciplinary consulting team assembled to evaluate the proposed Galena Resort in Washoe County, Nevada, for the Army Corps ' of Engineers. Galena is conceived as a four season resort offering a major new Sierra Nevada ski area, golf course, casino-hotel, real estate and related development. ERA's services included assessment of fiscal impacts and general community economic impacts. Of critical importance for this EIS was the evaluation of private development economics as a means of assessing the impact of environmental mitigation measures on the financial feasibility of the project. ' S UAW VALLEY INC. Q Squaw Valley, USA, California ERA was retained by Squaw Valley, USA, to assist the ski area in increasing their weekday or destination skier visitation. ERA's assignment was to determine the most appropriate mix of lodging, real estate and village services to create a destination resort ' at Squaw Valley. 11 t RESORTS ' In the United States, our project experience covers nearly all of the major resort properties on both the east and west coasts, mountain areas, and the islands of Hawaii and Puerto Rico. Internationally, we have completed resort assignments throughout South America, ' Europe, Asia, and the Pacific. We are consultants to the world's most well known and successful resorts, including: ' _ Wailea, Maui _ Walt Disney World La Costa, San Diego Mauna Lani, Hawaii - Kapalua, Maui - Hana Ranch, Maui Costa Smeralda, Sardinia _ Hawaii Kai, Oahu Palmetto Dunes, South Carolina Kaanapali, Maui - PGA Resort - Spanish Bay ' _ Pebble Beach _ Vail and Beaver Creek Harrah's Marina Hotel, Atlantic City Pinehurst, North Carolina - Kiawah Island - Kiahuna, Kauai Dragon Valley, Korea _ Cancun, Mexico Sunriver, Oregon Sea Pines Plantation - Mauna Kea, Hawaii A i i FACTIONS ' Our themed attraction experience began with the original Disneyland project and expanded to include major attractions developed in the U.S. or proposed overseas including: ' - Walt Disney World - Busch Gardens - Sea World - Six Flags ' _ Knott's Berry Farm _ Pier 39 Universal Studios Opryland - Magic Mountain - Cedar Point ' _ Seoul Land, Korea _ Sesame Place Great America Euro-Disneyland, France - Tokyo Disneyland - Canada's Wonderland - Marine World Africa USA - Singapore Entertainment Center ' - Ocean Park, Hong Kong - Haw Par Villa, Singapore - Ontario Place - Clarke Quay, Singapore - Kobe, Japan - Kisarazu Island, Tokyo ' - Grand Pal Park, Izu - Urban Slalom, Osaka Our credibility is particularly strong in this area, and ERA is referenced as the accepted ' source for theme park feasibility studies by Harold Vogel in his book on Entertainment Economics. 12 REGIONAL Or r ICES ERA has six offices nationally and they are listed below: ' San Francisco McLean 388 Market Street 8300 Greensboro Drive Suite 1580 Suite 1050 ' San Francisco, CA 94111 McLean, VA 22102 415/956-8152 703/893-1560 ' Los Angeles Chicago 10990 Wilshire Boulevazd 140 S. Dearborn Suite 1600 Suite 1512 t Los Angeles, CA 90024 Chicago, IL 60603 310/477-9585 312/332-0110 Boston ~an DieQ}Q One Liberty Square 964 Fifth Avenue Boston, MA 02109 Suite 214 617/451-1888 San Diego, CA 92101 ' 619/544-1402 13 BUDGET AND COST PROPOSAL Contained in the following table is Economics Research Associates estimate of the professional fees and expenses associated with the work program described previously. ERA is cognizant that the program exceeds the remaining budget previously authorized by the ' Town. However, we believe that the steps outlined aze necessary in order to provide the statistical reliability demanded given the magnitude of the project and the commitment of public funds involved. ' At the same tune, the rofessional fee amounts represent our best estunate as to the P level of effort required. If, upon negotiation, it is found that the same tasks may be ' accomplished with less cost, these fees may be less. Similazly, estimated travel costs are based on unrestricted air fares presently in effect, and per diem costs are based on paying published room rates in Vail and other resort environments during the course of the research. If means of securing lower per diem expenses can be achieved, or seasonal advance booking air tickets can be obtained, these costs will obviously be lower. ERA will work with the Town in whatever manner possible to insure the most efficient use of public funds during the ' course of the research. 1 ESTIMATED PROFESSIONAL FEES AND EXPENSES TOWN OF VAIL PERFORMING ARTS AND CONFERENCE FACILITY ANALYSIS - (TASK DESCRIPTION (BUDGETED PERSON DAYS & COSTS /1 PERSON FIELD ESTIMATED EXPENSES r V.P. Princ. Sr. Assoc Assoc TRIPS DAYS Travel /L Per Diem Other /4 1 Initiation 0.5 0.5 2 2 51,700 5350 2 Planner Survey 0.5 1 5 57,000 3 Local Market ] 2 3 2 3 51,700 S525 SO 4 Accomodations Interviews 1 3 3 5525 5 Planner Interviews ] 3 3 6 Cultural User Survey 1 3 2 5350 7 Competitive Update 1 2 3 2 5 51,700 5875 8 Industry Update 1 3 9 Working Charrete 4 1 2 5850 S350 10 Detailed Report 2 4 3 5 PRESENTATION 2 1 2 5850 5350 Total Days I 7 21.5 10 201 81 19 I I I I Total Fees I 58,400 519,780 57,600 510,400 I I I 56,8001 53,3251 57,000 GRAND TOTAL 563,305 Billing rates for the staff assigned range from S65 to S150/hour. 2/ Estimated at 5650 per air ticket, unrestricted coach fare. 3/ Based on an estimated S175 per day, per person 4/ Assumes completion of a targeted 500 surveys Source: ERA Append uc 1 Economics Research Associates Affiliated with Drivers Jonas Los Angeles San Francisco San Diego Chicago Boston Washington, D.C. Fort Lauderdale Summary of Select Economics Resesich Associates' Convention Centel Projects i = 1 1 - 1 i 1 1 1 ' 388 Market Street, Suite 1580 • San Francisco, California 94111 (415) 956-8152 Telex: 340890 (ERA SFO) Fax: (415} 956-5274 ' PROJECT REEERENCE FILE Con ' vention Center 1 1 Client Charles Center Inner Harbor ~Iana~,ement Baltimore Convention Center authority ' Assignment Feasibility analysis for Expansion of the Baltimore Convention Center ' Economics Research associates (ERA) a-as retained in 198? by Charles Center Inner Harbor Management to assess the market feasibility of expanding the Baltimore Convention Center. although the Center is regarded as a meeting anti exhibition facility of superior quality. several deficiencies in the physical layout were identified during its seven years of operation prior to ERa's study. Based upon an analysis of facility usage trends and the level of future convention and trade show bookings. the Baltimore Convention Center appeared to have reached equilibrium. whereby the level of activity a•as in proportion to the physical and scheduling capabilities of the Center. leaving only a marginal ability to increase ' the activity level and building efficiency. ERA~s thorough review of market charac- teristics and '-lost business" records resulted in the recommendation of a 100.000- square-foot exhibit hall expansion. a 30.000- to X0,000-Square-foot ballrootit at?cl additional breakout meeting rooms capable of accommodating groups of l00 to 1.00 theater style. In addition to the market analysis. an economic and fiscal impact anah•sis a•as conducted to quantifc the additional benefits which would ' result from construction and operation of the expanded Center. In September. - 1990. the Baltimore Convention Center authority retained ERA to update the tuarket and economic analysis and review the expansion program recommenda- tions. ERA-s work was included in the authoritv~s report to the Governor and ~[arvland General assembly. - ' Completed: August 195: October 19~b: October 1990 Contact ~I.. Nrg_c Duida4:i~ ' F:rrruti~'r Dirrr urr Baltimore Concretion (:rntrr (hu• ~l ra Pratt ~tmrt Baltimore. SID '_'1°_O1 ' (:401 i tint-'000 r ECONOMICS RESEARCH ASSOCIATES - LOS ANGELES • SAN FRANCISCO • SAN DIEGO • CHICAGO • BOSTON • WASHINGTON. D.C. • FT LAUDERDALE 1 ' PROJECT REFERENCE FILE Performin Ards 1 i ' Client Pittsburgh Trust for Cultural Resources Assignment Feasibility- _~nah-sis for a Performing .1rts District ER-~ w-as retained b~- the Pitt burgh Trust fur Culnrral Resrnrrt es to as.isc in rltr planning and de~-elopnrent of a major performing arts district in the downtnw u. ' The district will consist of six theatres: three existing and three which will hr' built. ERa assessed the demand for different t~-pes of eeents. anal~-zed the t'inan- cial feasibility• of each theatre. proposed along-term management plan for the district. and projected the impacts of the de~-elopment on the operation of Heinz Hall. the Cites largest performance center.:-~ ruajor reno~-ation of orie of the the- atres has been completed. with acquisition of another theatre anticipated b~- late ' 1988. CwnpletPd: J11RP t95a ' .r I 4 Contact _ { • \L . C,irnl BrnW n t Pill~hurvh ~fntxt for l ' (.iillural Rr•uurrr~ ;(11 .ilh \~rnu~•. tiuite 1+U' ~ ' ECONOMICS RESEARCH ASSOCIATES • LOS ANGELES • SAN FRANCISCO • SAN DIEGO • CHICAGO • BOSTON • WASHINGTON. O.C. • FT. LAUDERDALE f~ ' PROJECT REFERENCE FILE 1 Sort . . s ~acilit p Y Client Anaheim Stadium, Inc. Assignment Development of Strategies to Expand [.tilization of .~naheim titadium In order to determine w-avs in which to expand utilization of the .~naheim Stadium. ER.~ evaluated the feasibility of an exhibit space concept for tOf..iOQ square feet of the facility~s concourse area. Market support for the the exltihit space w•as analy_ zed based upon review- of stadium operations and facility utiliza- tion. as well as the competitive environment..-1s a result. ER.-1 recommended the ' development of exhibit space on tw-o levels of the stadium concourse to host events targeting a market niche that w•as not served by the hotels or the natiunal- ' scale :~naheim Convention Center. --1 utilization schedule w-as projected for the proposed exhibit space. along with a financial pro forma and development cost estimates. This 5•~ million project opened in July 1989, and the market response ' prior to opening exceeded expectations of first year bookings. Completed: Septeneber 19)6 Contact \n~hrnn rlaJium _'00 ~uw~ l:~dl~~_e Blvd. 1 +J uuq.g~~g0 1 1 ECONOMICS RESEARCH ASSOCIATES • LOS ANGELES • SAN FNANCISCO • SAN DIEGO • CHICAGO • BOSTON • WASHINGTON. D.C. • FT. LAUDERDALE 1 ' ~ PROJECT REFEREtvCE FILE .l~erforman ' ce Audit 1 1 Client ~Iayor•s Task Force on Booking Policy, City- of Los :-~n~eles ' Assignment Performance audit of the Greater Los .angeles ~-isitors and Convention Bureau ' [n 1988. Economics Research :associates (ERs) a-as retained by the Cin- ~,f Lo .~ngeles to audit methods of marketing the Los .~ngeles C:on~-entiou Center and to ' specifically evaluate the performance of the ;realer Los .~ugeles ~•isirors and Convention Bureau. ER.~~s comprehensive management stud- included an analy- sis of the internal organization of the Bureau and compared the Los .angeles ' Bureau with co?nparable entities in the Cnited states. Relationships between the Bureau. the Cin-. the Lott Angeles Convention Center. and the many Visitor sup- port organizations in the community were also esamined..~s a result. ER:1 rec- ' ommended that the City continue its contract with the Bureau. under a more secure. performance-based program for marketing activities. ERa also suggested several Significant changes in the internal structure of the Bureau and reco?n- mended a radicall- different and more effective reporting and ?nonitoring refs- - tionship which has been adopted b~- both the Bureau and the City. CwnplPted:.l/arch 1955 1 • Contact \L.. I~.Ilrn sands ' Offi~•r of thr \dministrator (:in of Lm 1n~rir. 1 1 ~ ' ECONOMICS RESEARCH ASSOCIATES • LOS ANGELES • SAN FRANCISCO • SAN DIEGO • CHICAGO • BOSTON • WASHINGTON. D.C. • FT. LAUDERDALE ' PROJECT REFERENCE FILE n~vention Center ~o 1 1 ' Client City- of Hartford,. Connecticut Assignment Market and Economic Feasibility analyses fora \ea- Con\-ention Center Since 198-x. ER:~ has served as the Citc of Hartford~s market and economic rtm- sultant during the planning and implementation process for deceloputent of a ' new convention center. The initial feasibility study. which included a surrey t~f potential users. indicated favorable market support for a dedicated convention center in Hartford. provided that it mould be accompanied by a new headquar- ' ters hotel. [n response to concerns expressed by the exisrinQ hotel conununin~ over the need for a new hotel ERa conducted a case study analysis of the impacts a new convention center ' and hotel mould have on the existing hotel industry. [n 198'.. ER.a updated the initial market analysis and facility program : ; : recomtnendations, and assisted the financing learn with eco- ' °{'~s;°.',1.~,;~~ nomic impact projections and the identification of alternative •i.~?~~, I k.s~ funding options. based upon the experience of other cities. ~:~f ~ ' The results of ER:1-s work have been included in the proposal f,. ~ . i ' ~ submitted to the Connecticut State Legislature for funLling c_ assistance and project approval Contp/erPd: Ongoing ~ . ~ r e _ Contact \Ir. u'illi.un bran a' ~ i ~ ~v x^~~ Finaurr Dirrrwr ~y',~.• ~:ur..I'llartl~~nl .~.iQ ~I;tin ~trrrl Ilarlfnril. C'I' Ub1Q:1 y. 1~K• C•. ~H f kc .hs~r'..?r~.~sy ' ECONOMICS RESEARCH ASSOCIATES • LOS ANGELES • SAN FRANCISCO • SAN DIEGO • CHICAGO • BOSTON • WASHINGTON. D.G. • FT. LAUDERDALE ' PROJECT REFERENCE FILE Conven ' 1 Lion Center Client San Francisco Gon~-ention and Visitors Bureau Assignment F~aSibilit~- -~nal~-~i~ fl~r E~patt~i~~n of ~fo5cone Cou~-ention (:eater R ._ince it, ~penm, u~ l 8l. tiara Francisco s ~loscone Con~eution Cr•ntri ha. Ball diFficuln- accouuuudating the demand For its facilities. ER-~ w-ati retained al ~•Irn- ' dart a market based assessment of demand For additional exhibit Space. Thi: assi_nment was inl7uenc•ed b~- significant ph}~sical and site-related run~traint•. a, the existing complex consist, of an underground building em elope which i~ au•- ' rounded b~- the e~ol~-ing ~-erba Buena Center mixed-use project and the Cit~•~ expanding downtown residential core.T•he assessment of n?arket demand focu,e~l un both the aced For a balanced program of exhibit and meeting >pace and a pro- ' grant that would improve building eff•icienc~- b~- accommodating ~ttultiple cunrnr- rent events. The expansion prograu? will add 600.000 square feet of net usable :pace. which will be de~-eloped in two phases. Coutpletion of the entire 51.10 niil- ' lion expansion is scheduled for .fanuar~-. l99'?. C•OIIIpIPfPd:.llC(1• /956 - - 1 _ Contact - - I)irrrlur..f' Pu1~Nr .1tFairs dun I~ranri•rul:nncrntion 1 i•ilun BurrHll - - - - - _ _ t P U. B~~s 119," - - - ~au I rauri.r~~. (:1 q+101 ~+1:,~ 'h+-119U0 ' ECONOMICS RESEARCH ASSOCIATES • LOS ANGELES • SAN FRANCISCO • SAN DIEGO CHICAGO • BOSTON WASHINGTON, D.C. FT. LAUDERDALE PROJECT REFERENCE FILE Convention Center 1 Client City of Palm Springs, California f~SSlgnlnent .-~nalvsis of Palm Springs Convention Center Expansion Potential ' Economics Research associates a-as retained by the City of Palm Springs to ana- lyze the feasibility of expanding the existing Palm Springs Convention Center. ~[uch of the momentum Surrounding the community ~s interest in expanding the Palm Springs facility a•as based on the recognition of the increasing suppl• of newer and larger meeting and convention facilities, not only in the region. but in ' comparable resort destinations nationa-ide. The recommendations were based on thorough market. operations. and cost/benefit analyses. Upon completion of the market anal-sis• including a review of potential expansion sites. three prelictii- ' nary expansion alternatives were detailed. The operations anaksis identified areas of improvement which a-ould permit the Convention Center to maximize its operational performance and included a review of tnarketing, operations. staffing, as well as existing and potential profit centers. ERA also prepared pre- liminary construction cost estimates and suggested various funding programs for the City to pursue in developing the expansion program. Finally. acost/benefit ' anal-sis was conducted for each of the three alternatives under review to deter- mine which scenario maximized the direct economic benefits. Completed:.Iprrl 1990 Contact _ ~ ~ Farruucr Director ' Palm ~prin3> Com'rntion Center Palm ~priu:,. tl3'_'6'? IUI'I! a'!.i•ubl l ECONOMICS RESEARCH ASSOCIATES • LOS ANGELES • SAN FRANCISCO • SAN DIEGO • CHICAGO • BOSTON • WASHINGTON, D.C. • FT LAUDERDALE PROJECT REFERENCE FILE Arena 1 i Client ~Zississippi Coast Coliseum Commission Assignment Feasibilin• analysis for aColiseum-Convention Center C:oruple~ and Related Facilities on the Mississippi Gulf Coast The Mississippi Coast Coliseum Commission initiated the deyeloptneut of a culi- seam-convention center complex in l9', l by retaining ERA to conduct a preliuti- nary feasibility analysis. ER:~ completed the. sntdv. identified several potenial sites in the Biloxi-Gulfport area. and recommended the optimal Site For deyelop- ment. Prior to aquiring the site. the Commission retained ER:~ to update the ear- lier market study and evaluate the optimum size and utilization of the sire. [n addition. the Commission considered purchasing adjacent land for use by public ' or semi-public facilities under the assumption that the revenue from leasing the property a-ould offset operating expenses of the coliseum-convention complex. However. ER:1 concluded that the costs associated with owning. marketing and managing the adjacent land parcel did not warrant acquisition: nor would the potential rental revenue have a significant impact on the operation of the colise- um-convention center complex. Since inception in the Fall of 19?'.. the facility- ' has established itself as a successful arena and viable meeting and convention venue. Completed:.-1u2r~stl9-•3 ~ ~ r Vl 1 - ~ . ' TOTAL ATTENDANCE X111 ` - Contact ' - ~ _ ' \Ir. illiaw F. I lolmrs • ~ y . Din•rt~~r ~ • \li>,i••il~lii (:nna i:uli.rum 'a.iU Brai•h HI~~I. liiluxi. \II a9.i:11 ;,b01)~i88-8010 - _ ' a. ~ i ECONOMICS RESEARCH ASSOCIATES • LOS ANGELES • SAN FRANCISCO • SAN DIEGO • CHICAGO • BOSTON • WASHINGTON. D C • FT LAUDERDALE PROJECT REFERENCE FILE 1 S orts . acilit p Y Client Metropolitan Council, St. Paul. Minnesota Assignment Review- of .arena Feasibility and Regional Impacts The Twin Cities of Minneapolis and St. Paul Minnesota. were awarded an ' expansion franchise in the vational Basketball association. and the owners of the new- learn proposed to develop an 18.000-seat arena in downtown ~[inneapolis. The Metropolitan Council. a regional planning agency. selected ERa to conduct a study which reviewed the need for. and the irnpacts of, an additional arena in the ' Twin Cities area. ERa reviewed the records of all existing facilities in the region for bookings. number of event clays. attendance, and financial performance. The experiences of similar facilities in 16 midwestern and western cities were exam- ined. and several case snrdies highlighting possible outcomes were prepared. Based on these findings, ERa projected the number of event days and the proba- ' ble financial performance of the proposed new arena in the regional contest. .-lssessments as to subsidy requirements and ability to perform under several dif- ferent scenarios were made. Finally. ERa projected the impacts of the new arena ' on existing facilities in the Twin Cities area. senior ERa consultant testified at a legal proceeding held by the Council. and underwent cross-examination by all interested parties. as a result of ERa-s ' report, the Council determined that the owners and the City of Minneapolis should be allowed to develop the facility as planned. Completed: Jur:e 195' Contact C~' ALE ~ ~4~' ~Ir. u'illiam ftcers ' Pmjr~•I ~lanaser ~Irar~ Park (:rntre _'.i0 East ith >trert ATM Si AA.h1 tit. Paul. 11\ .i.i101 F.VT RAN CF ECONOMICS RESEARCH ASSOCIATES • LOS ANGELES • SAN FRANCISCO • SAN DIEGO • CHICAGO • BOSTON • WASHINGTON, D C. • FT. LAUDERDALE ' ~ ' PROJECT REREFERENCE FILE Convention Center 1 1 Client The City- of E1 Paso. Texas 1 Assignment Expansion Feasibility- for the El Paso Convention (:enter ' "the Csity- of El Paso. Texas. retained Economics Research -~s~ot~iates to anal~~ze the feasibility- of expanding the existing El Paso Conventiun Center..-~Ithou_*h thr EI Paso Convention Center i5 used annually for apprositnately 300 events. the Center has been unable to attract a significant number of national and regional events because of the limited availability- of hotel accommodations which directly support Convention Center activity-. Liven this constraint. the existing Convention Center is used primarily for local events. a-hich typically generate less of an economic impact on the City• and state economies than national and ' regional events. ER.-~~5 assignment a•as to recommend an expansion pro~ra?n for the existing Convention Center in terms of both ph}-sical space requirements and support infrastructure to maximize rnarket opportunities. Based on the findings ' of the market study. ER:~ recommended atwo-phase development prograut. "the first phase involved pursuing the development of a new com•ention quality hotel with between X00 and 1.000 rooms to be situated in a downtown location near ' the Convention Center. This phase would be constructed to support the existing Com~ention Center and improve marketability of the Center. particularly for regional and national events. ~s part of phase additional meeting space would he constructed. possibly as part of the new hotel development: again to support the existing exhibit hall to create a facility with over 100.000 square feet of con- , tiguous exhibit Space divisible into separate halls for smaller or concurrent events. The Citv is currently pursuing a hotel developer. ConrpletPd: DPCembPr /959 Contact ~Ir. ua,i~l Ilul~uin I:~~wilinan~r fnr Duw'uuiu n Rwlrcrlupnlent I ~ Drpl...I' F.runuwi~• Drcrli~pmcnl (:in of F.I Pa>u (:icir Crntrr Plaza F:I Pa.... I \ ~'I'tll l ' ECONOMICS RESEARCH ASSOCIATES • LOS ANGELES • SAN FRANCISCO • SAN DIEGO • CHICAGO • BOSTON • WASHINGTON. D.C. • FT. LAUDERDALE i PROJECT REFERENCE FILE S ecial went i p Client Los Angeles Olympic Organizing Committee Assignment Economic [mpacts of the 198-k Summer Olympics d - o 0 ER-a a•as retained by the Los .~nr.ele5 Olympic Or~an?zrn~, Gommtttee to conduct a number of economic impact studies before and after the 198-1 summer ' Olympic Catnes. The studies included an evaluation of total direct and indirect spending which occurred as a result of the games, the number of jobs created. ' and the total tax revenues generated in Los Angeles and at several peripheral venues. In preparation for the Olympics. ER:1 evaluated existing facilities in the Los .•~ngeles area to determine their ability to accommodate various Olympic events. Overall. the 198-k Summer Olympic Games created a total of :3.9 million i visitor days. tax revenues of s~0 million for the Gity of Los Angeles and other local governments. and more than 51 billion in total spending. The unique pri- ' _ vate corporate status of the L~100C, and its effective contract negotiations a-ith sponsors. R-ere responsible for the overall financial success of the event. Conrpletecl: 19 5.3- S.i CO/Lt(ICC \Ir. David ~mirh Lu. \nsrlt~~ .\rra (:hamber ~~(Ginunrrvr +U+ ~nulh Biscl greet !1a1 n„I.Obia ECONOMICS RESEARCH ASSOCIATES • LOS ANGELES • SAN FRANCISCO • SAN DIEGO • CHICAGO • BOSTON • WASHINGTON, D.C. • FT. LAUDERDALE PROJECT REFERENCE FILE C onventi n \ o Center 1 Client City of tilobile, Alabama Assignment Market and Financial Feasibility- .~nal~-ses of a \ew ~[obile Convention (;enter t Economics Research .-~~~ociate~ (ERa) w-as retained be the Cain- of Mobile. - .~labarna. to provide independent market and economic feasibility• anal-ses of a ' new- Mobile Conveutio? Center. Phase [ of ER~~s work resulted in a full-sr_ale market analysis. projected event schedule. preferred facility- sizing program. and an operating budget for the new Convention Center. Phase [I included a develop- , nrent cost analysis and funding program. evaluation of alternative management options and operating policies. alternative site analysis. and a precise economic impact analysis rulruinating in a public investment cost/benefit assessment. ER.a ' also proposed a phased financiu_ program of select nea- revenue generation based upon appropriate local tas stnrctures and a comparison of price to prin?arv market position.:~n optimuru Facility- sizing and implementation/management ' profile was then recommended based upon ~[obile~s local mission for the Cin-'s overall economic developn?ent. C'onrpleter/: Februan• l95-: [ plated: October 1990 Contact \Ir. C~~lir L. Dnnal~l.~m \luhil~~ (:~uivnli~m 1 i,il~n~ C~~rl~~~rali~m '!Oil +aa-.ilUll ECONOMICS RESEARCH ASSOCIATES • LOS ANGELES • SAN FRANCISCO • SAN DIEGO • CHICAGO • BOSTON • WASHINGTON, D.C. • FT. LAUDERDALE ' PROJECT REFERENCE FILE S orts cili ~ a t p Y 1 ' Client Arizona State L ni~~ersit~, Tempe. Arizona Assignment Market and Financial Analyais for Stadium [mproyements I Economics Research Associates was retained by the office of Business Affairs rtf Arizona State C-niyersity to conduct market and financial analyses for intproye- I ntents to the ~-n1yPCSlty•~ Sun Devil Stadium. and for the possible development of a new- baseball stadium. ~`-orking with concepntal designs prepared by 5kidtnore Owings 5o Merrill. ERA assessed the markets for professional baseball and foot- ' ball in the Phoenix metropolitan area. C-sing assumptions about ticket prices. concessions spending. and stadium rents derived from averages at other facilities- a pro forma cash flow- analysis was prepared showing the effects of alternative I financing arrangements. Possible income Streams from peripheral land develop- ment were also projected. I .aSG•s Sun Devil Stadium will serve as the home field for the DEL Cardinals while the new Phoenix Stadium is being completed. The first phase of the recomutend- ed improvements program is tinder way. Contpleted:.~pril l95" ' Contact 11r..lrnnu~ Burum ~ . • \~•I-rant \~irr Prr,irlr•nt ' lriznna tam l niyenit~• I rutpr•..\riznna 8•i38' ' Bucd un she are ~ttmal dnwmg by St dm~ Owings Ai Memll ECONOMICS RESEARCH ASSOCIATES • LOS ANGELES • SAN FRANCISCO • SAN DIEGO • CHICAGO • BOSTON • WASHINGTON, D.C. • FT LAUDEROA~E PROJECT REPER.ENCE FILE Conference Center • Performing Arts 1 Client City of Santa Fe. dew ~Zesico Assignment ~[arket and Financial Feasibility- analyses of an Expanded Santa Fe ConferPnre Center and Perlortning :arts Facility- , • ~ a'r ed Eronumics Re~earclt [n .~u~n~t 188. the (:its- of Santa Fe. \Pn . [estco. ret t t .1~sociates (ER.1) to anal\-ze ttte fea~ibilit\• of expanding their e~istin, n?ajor ' meeting facility-. known as Sweeney Center. and/or developing a nen- confer- ence/performing arts rrnter at an alternate location in the cotnmunin-. Ciyen the complex nature of this analc>is - ta-o distinct facility- programs. one for per- forming arts and one for a conference center - ERa developed a nutltiphased sntdv process to combine local demand for community--based perfortnin~ arts with market-based Support for anon-local meetings facility-. ER:~'s final study recommendations included a refined facility program. alternate site analysis. construction cost estimates. a financial pro forma. and local economic urtpact assessment. ER:~ utilized the services of ~Ir. !Ward Deems. F~I:~. of The ~[atris Group. w-ho was responsible for the architectural/design aspects of the facility program. Corrrpleted: Inrur~n• l959 Contact ' \I~. Uiaur• Baku. I)irrrtur \ i.itun Burrau al ~werltP~' Ctr. '111 \larrr rirrr•I Santa Fr. \\I 8':,0+ i ECONOMICS RESEARCH ASSOCIATES • LOS ANGELES • SAN FRANCISCO • SAN DIEGO • CHICAGO • BOSTON • WASHINGTON. D.C. • FT. LAUDERDALE PROJECT REFERENCE FILE 1 venue enhancement Re t Client City of .~riaheinl, California Assignment .~nalcsis of tielert Revenue Potentials ut the :\na4?eun Con~~entwn (.rarer Expansion lu k~86. tl?e :~nahei?n Cc~n~•entir~n Center :~uthoritc ar.lopted Ecouou?ics Rr,rurch ' :\sst~ciates• (ER:1) recon?u?endation m rxpand the :~uahein? Crxn~entinn Ccntrr. ~uhse.rluentl~-. the City- uF _~naheiu? retained ER.~ to deteru?ine select revenue p~teutials associated with the n?arket strateg}- fr~r the expanded facilit~~. ~C~hilr ' sr~~eral re~~enue enhancement strategies were considered as grrit! pro r/rro rr~ etpansion. ER_~ also recoguizerl that arbitrar~• facilih- rental and ocrupanc~~ r?.~ increases might adcersel~~ affect .~naheim•s future share of local. stare. re,iuual ' and national meetin;s markets. [n respuuse. ER_a analyzed the iu?l,act ttf select re~euue factrtrs upon each captured market segment and reconuuentler.l a rec- cone enhancernenr strategy- based upon nu?nicipal revenue mariu?izariun ~rrsns u?arl:et share capture..~s a result. a program of phased farilit~- re~-enue,rllera- tiun and occupanc~~ tax re~'enue increases w-as developed to maintain .~naht•iru predominant national n?arket position. The City initiated the First phase Ilk• increases recomu?ended b~~ ER.a and will crnnplete the program over a five-vr•ar lte?•it~d. ('onrp/ererL• .~e/~tenrber 1916 r Contact ~ ` \Ir. t~rnnrlh li. ~wur •`at;a, \I,tna~s~•mrnt \n,tl~.t (:in ..I lnahriul "'Jig V~NI-~~IhB ECONOMICS RESEARCH ASSOCIATES • LOS ANGELES • SAN FRANCISCO • SAN DIEGO • CHICAGO • BOSTON WASHINGTON, Q.C. • FT LAUDERD/+~E ' ~ PP.OJECT REFERENCE FILE C onven ' tion Center 1 1 Client ~[a~-or•s Task Force on Booking, Polio-. Los .angeles. California f~SSI n?nent Economic -~nalc~i~ of .~lternati~~e ~Ii~sion 5tatenients and Bookir?s PoliriN~ fnr thr g Lo .~ngeles Con~-ention Center [n ,{anuan- 1986. the Cin- of Los .-Angeles issued 5:3:0 million in bonds m finance construction for expansion of the Los --~n~eles C:o~n-ention Center. n-hich will t actively double the size of the complex. The Centers booking and facility opera- tions policies historically have resulted in a mix of uses favoring trade and public shows over non-local. visitor intensive conceptions. Because the financing fur the expansion is tied to the commitment of hotel tax funds. the City retained ER.~ to provide a detailed analcsis of the economic impacts of alternative hooking and operating policies favoring conventions which would attract visitors primarily from out-of-,rate. and the Centers historical policies which emphasized maxi- mization of operating revenues to the facility. Based upon clearly defined ecu- 1 nomic impacts. ER:~~s recommendations to maximize convention booking; and increase hotel room occupancy rates were adopted by the Los .~ngeles C:in- Council. ('ontplPtPd; .l/arch /9S- Y . W ~QW~~ yW 0QQ• • WQ~ qFB~~ . Contact (lffirr ~~f (:in' \Jmini~trator ~ (:il~ of Ln- \m_+•Ir> Lu• \ngrlr.. +1001' E 7000 0 t ~ o Too i v 1 ~ COMYE~TIO~ CEETEE • • ~ SANTA MONICA FREEWAY ' ECONOMICS RESEARCH ASSOCIATES • LOS ANGELES • SAN FRANCISCO • SAN DIEGO • CHICAGO • BOSTON • WASHINGTON. D.C. • FT. LAUDERDALE PROJECT REFERENCE FILE ention Center ~onv 1 Client \ew- Fork Convention Center authority ~fanaQement 5tud~- For the Jacob Jacit~ Com-ention Center Assignment . construction of \ew- ~ urk Cit~-~s ~onceutiou center was underway-. a key or_u- nizational issue tk+at reu+ained unresul~ecl was wk+ether t4~e facilitc ~huul+-l be managed puhliclc ur pri~atel~-.:\s part of a +nulti-disciplinarc team. ER.a de~igued and rond++cted a [++anagement stuck that would scree a5 the t•ran+ewurk for selecting the appropriate for[n uF n?anage[nent fur the Center. The stud~- encou+passed four major work tasks. including a re~-iew- of existing operations of dew ~-ork~s C:on~-ention Center: a surcec of major users of con~-entiun Facilities in the [,-nited State: including trade show. corporate and association [neeting plan- ners and organizers: inter~-iew-s with public opinion leaders in dew l-ork: and ron+prehensi~-e case studies of six major contention cities in the L nited States. Based upon the findings of the surtets and analtsis. the project team deteloprd ' a decision-[++aking matrix representing the ket tariables. The Jacob Jatits Com~ention Center opened in 186 with pritate management. while markering re[nains within the public sector. ('onrp/eled:.Iprr! l953 Contact ' ~Ir fhunla-Garin I'r, •idrul \rruc li,~ult~ (.urp. 111111 L,nig Ridge Road I'll. R„~ IhUfl . I'll:! I 'Ihii-;SII I.i r , i- ECONOMICS RESEARCH ASSOCIATES • LOS ANGELES • SAN FRANCISCO • SAN DIEGO • CHICAGO • BOSTON • WASHINGTON. D.C. • FT. LAUDERDALE Economics Research Associates ' Affiliated with Drivers Jonas STANDARD PROPOSAL ADDENDUM It is understood b the client that Economi Y cs Research Associates (ERA) can make no guarantees concerning the recommendations which will result from the proposed assignment since these recommendations must be based upon fact discovered by ERA during the course of the study and those conditions Busting as of the date of the report. To protect you and other clients, and to assure that the research results of ERA's work will continue to be accepted as objective and impartial by the business community, it is understood that our fee for the undertaking of this project is in noway dependent upon the specific conclusions reached or the nature of the advice given by us in our report to you. It is agreed by the client that the report is not to be used in con'unction with an ublic or rivate J YP P offering of debt or equity securities without our prior written consent ' It is further agreed that the client will indemnify ERA against any losses, clauns, damages and liability under federal and state securities laws which may arise as a result of statements or omissions in public or private offerings of securities. It is agreed by the client that payment for the services of ERA is due upon receipt of the invoice; ' that full payment is due upon receipt of the completed report; and that ERA has the right to withhold delivery of the final mport pending receipt of any overdue payments. In the event any invoice is not paid within 30 days after rendering of the invoice it shall commence bearing interest on the date the invoice was rendered at the rate of 18 percent per annum (or such lesser rate as may be the maumum interest permissible under applicable law) ' and the client agrees to pay all accrued interest, together with the charges for services rendered as provided for in this agreement In addition, should an unpaid invoice be referred to our attorneys for collection, the client agrees to pay their reasonable fee for such work, as well as any costs of suit which may be incurred. It is further agreed by the client that the report will be presented to third parties in its entirety and that no abstracting of the report will be made without fast obtaining the permission of ERA. It is understood by ERA that the findings of this report are the proprietary property of the client and they will not be made available to any other organization or individual without the consent of the client This proposal will remain in force for a period of 60 days from the date shown herein. THE TOWN .OF VAIL ` PROPOSAL TO COMPLETE A DEMAND ANALYSIS FOR A PROPOSED , PERFORMING ARTS/CONFERENCE CENTER ` March 9, 1993, SUBMITTED BY: ROBERT S: BENTON & ASSOCIAT~S~ 1610 Wynkoop-Street, Suite 400 Denver, Colorado 80202 HIRE & ASSOCIATES 1383 Solitude Lane. ' Evergreen, Colorado 80439 March 9, 1993 ROBERT S. BENTON & ASSOCIATES Hospicnlity Consulting Mr. ROn PhIIIIPS and Vnlutttion Town Manager Town of Vail 75 South Frontage Road Vail, Colorado 81657 Dear Mr. Phillips: We are pleased to respond to your Request For Proposal with regard to a Demand Analysis for a proposed performing arts/conference center to be located in Vail, Colorado. We appreciate the opportunity to submit this proposal, and would welcome the chance to work with you on this development. Our understanding is that the demand analysis you are requesting is'in regards to the usage of the facility as a Conference Center, without analyzing performing arts usage. Our approach to this assignment, our fee structure, and our qualifications in the industry and relative to this project are presented in subsequent sections of this proposal. We believe that our experience with hotels and hospitality related projects, and our extensive knowledge of the Colorado Rocky Mountain Resorts, makes us uniquely qualified to provide you with a thorough and highly credible demand analysis of the potential usage of the proposed conference center. Your primary contact relative to this assignment is: ~ , Robert S. Benton, Principal _ 1610 Wynkoop Street Suite 400 Denver, Colorado 80202 (303) 629 - 6900 , This proposal shall remain in effect for 60 days from the date of your receipt. Please contact us with any questions you may have regarding our proposal. We welcome the opportunity to meet with you to discuss the project in further detail. Ver Truly,nours, Robert S. Benton James W. Hire Robert S. Benton & Associates Hire & Associates 1610 Wynkoop Street, Suite 400 Denver, Colorndo 8020'2 Telephone: 303-629-6900 Fax:.303-623-1411 TABLE OF CONTENTS Paae Project'.Organization 1 ' Project Workplari 3 Project Staffing 11 Experience Record - 21 Budget Cost Proposal , 28 . APPENDfCES - Rocky Mountain Lodging Report A • PROJECT ORGANIZATION The issue of a Performing Arts/Conference Center in Vail has been debated within the community for several years. We have been provided with and have --had the opportunity to review several studies which were previously completed regarding this project. The Economic Research Associates report dated June 1987, appears to be the last study completed regarding the potential demand for the conference center. As you are well aware, Vail acid other Colorado mountain resorts Have experienced. significant growth and changes since 1987. Efforts have been made by mountain resort communities to .develop from primarily .winter ski resorts to year round destination resorts. Group/conference business has been a critical source of demand for the resorts and has been instrumental in effecting-this change. We are well aware of these changes, as we have worked closely with many of our clients to adapt to 'changing market conditions. We are proposing to complete this assignment as a joint venture between Robert S. Benton & Associates and Hire & Associates. The principals of these firms have over twenty five years of .hospitality related consulting experience, as well as additional experience in hospitality operations. Both firms. are based here in Colorado, and as you will note from a review of our qualifications, asignificant portion of our respective . practice's involve projects in Colorado. The primary base of business for both firms is hospitality related, including. conference arid convention center projects. While conference centers are unique in certain respects, they have. many similarities to a traditional hotel. ~ Our approach .to analyzing a traditional hotel project is'to evaluate potential demand sources, which in many cases includes group/conference business. By joint venturing this project, we believe that you will benefit from our combined, extensive base of knowledge of the Colorado resorts, its history. and development, as well as our experience in analyzing the supply/demand 'patterns for conference centers and hotels with extensive conference facilities. Mr. Benton and Mr. Hire have worked 1 . I I on man ro'ects for over ten ears. For six ears the consultants worked cosey, y p ~ y y , together in the Denver office of Pannell Kerr Forster (PKF1, an international accounting and consulting. firm specializing in hotel and hospitality related. projects. When Mr. Hire left PKF in 1988, we continued to work together on several projects. This relationship continued when Mr. Benton started his~own consulting practice at the end of 1991. Resort activity, in Colorado is monitored by.- Mr. Benton and Mr. Hire on a monthly. basis through their sponsorship of the Rocky Mountain Lodging Report for Colorado. This report is a monthly occupancy and average daily rate survey of~ lodging-properties throughout the state. A copy of this report for year end 1992 in included in the addenda of this proposal. The primary consultants in this assignment will be, Bob Benton of. Robert S. Benton & Associates and ,Jim Hire of Hire & Associates. Mr. Benton will be primary contact with the Town of Vail. Mr. Benton and Mr. Hire will both be active in the completion of the fieldwork, analysis of the market data and in the preparation of the conclusions and recommendations for the project.. Jeannette Roberts, who has worked closely with Mr. Benton and Mr. Hire on many projects in the past, will work as a sub-consultant on the project, and will assist in the research, analysis and in~ reaching the conclusions and recommendations of the study., 2 PROJECT WORK PLAN This.section will outline our methodology for the study. One of the benefits which we' believe we have .in performing this assignment :is our background in working on a. variety of projects in the Colorado resorts. By working consistently in the Colorado resorts, we have an understanding of the seasonality which occurs, the differences in demand sources that occur by season, and the impact each of these factors have on the utilization levels of the Colorado resorts on a year-round basis. Due to our experience with past and existing clients, we understand where conference demand is most likely to emanate from and how competitive resort markets are developing as conference markets: We intend to utilize this base of information from which~to build upon, where other firms who are not experienced in this region must first build this source of data. • While we will review national trends affecting the group/conference market, our primary emphasis will be to analyze the past and projected performance of the group/conference market in the Colorado resorts. ,The 'Colorado resort market has experienced a significant amount of growth, not only in supply, but also in demand, since 1987. The development of group/conference business has played a major role in the changes that have occurred in the market. Our approach to this study is to evaluate past trends and how these trends are expected to influence .future development. This approach is dependent upon the gathering of primary research data, while relying on more general, nationally published data to a much lesser extent. We intend to interview not only operators of potentially competitive facilities, but also ..potential users . of this facility. Based on our experience,: we have found that interviews with meeting planners will provide insight into the probability of groups meeting in the market area, the potential of a .group using the proposed facility, as well as potential barriers to group usage of the facility. It has been our experience O that meeting planners are very willing to speak with us, as they realize the importance 3 _ • h it in into facilities that the ma otentiall use. We rel heavil on the data of t o put Y y p Y Y Y gathered from these interviews in reaching our conclusions and in making recommendations. Our approach to this study is as follows. FIELDWORK Orientation Meeting . , We will meet with you and/or your representatives to discuss the study in more detail and formulate a schedule for performing the fieldwork.. At this time, we would like to gather any information from you, which may assist us in performing this assignment. We would also.like to tour the site where the performing arts/conference center is proposed fo be located, as well as review current development plans. If their are representatives with the Town of Vail or others involved in the project who can provide additional insight into the project, we would like: us to meet with these individuals at this time. Area Review We will gather and analyze relevant economic and demographic data regarding the market area to determine whether the overall economic environment in the area appears suitable for development of a conference center. We will examine correlations between key ecoromic. factors and will. utilize any available forecasts for these indicators in our evaluation of potential future demand. Among the data we will gather. and analyze will be: Q Tourism trends, including. past and projected visitor counts at major attractions, new attractions expected to enter the area, and gerieral O trends within Vail and the State of Colorado . 4 Q Convention and group meeting trends, including past and projected ' growth Primary Market Research In addition, we will perform primary market research in the site area, consisting of interviews with persons familiar with development. patterns and the local market. Among those with whom we will conduct such interviews are: Q Individuals involved in the marketing and management of the Vail Resort Association ~ .Owners and managers of group/conference oriented hotels Q Representatives of Vail Associates ~ Representatives of other recreational amenities and attractions in Vail and the surrounding area ~ City officials in zoning, development and transportation ~ ~ Government agencies Q Airport executives and planning officials Q Meeting planners ~ Others familiar with the, overall development of Vail Once we have completed our research in the Vail area, we will expand our research to other Colorado mountain resorts. We will interview operators of other potentially competitive conference centers and lodging properties with extensive meeting facilities. Among the data we will gather in our interviews, will be: The number of groups meeting at the facility, the mix by size of groups, and the seasonality,of demand • 5 ~ Average daily room rates achieved by groups and their preference for hotel rooms or condominiums ~ Average length of conference and the opportunity to generate pre and post meeting vacations ~ Barriers for attracting potential users to the facility As part of our primary market research, we also intend to extensively interview meeting planners whose groups could potentially be users of the proposed facility. We will concentrate our efforts on meeting planners whose groups have used resorts in the past. Data we intend to gather from these interviews include: ~ Past meeting history in the Colorado resorts, including type of meeting, location, and general experience. ~ Time of year meetings are held, number of attendees and spouses, length of meeting, number of rooms required, and the likelihood_ of pre and post • convention vacations extending stays in the market area Q Factors contributing to the selection of the resort and/or facility Q Policies on room rates and usage of condominiums Q Critical factors on selecting a meeting facility and usage of a conference center verses a hotel ~ Requirements of a conference facility, including number of meeting rooms and their capacities, and equipment needs Q Likelihood. of their using this facility, as well as potential barriers to its usage We will review the current plans for the conference center and incorporate questions into our interviews regarding facility needs. If possible, we will attempt to have plans reduced to a size where we can mail or fax them to meeting planners for direct feedback. We will also review the plans based upon our experience in the industry and in light of our interviews. 6 • F MARKET DATA ANALYSIS O On the basis of the foregoing research, we will prepare estimates of the future growth in demand for, and the supply.of, conference facilities in the Colorado resort market. We will analyze historical growth in demand for conference facilities and the characteristics of meeting groups utilizing these facilities. Using the information gathered in our research, we will estimate the potential for growth in demand within the group/conference market. Our experience in this market indicates that the opening of a new facility will typically attract additional demand to the market, making it difficult to quantify the estimated growth in demand. While we would likely complete a quantitative analysis, we would likely rely more upon a qualitative analysis taking into consideration seasonality, historical growth trends and the results of our interviews. • The goal of our research and analysis will be to answer the following questions, as outlined in the request for proposal. . Q The annual number, seasonal timing, and size of groups likely to use the facility ~ ..The annual number of lodging room nights which would ~be directly attributable to the conference facility 0 The total revenues likely to be generated by conference guest expenditures for lodging, retail -and food and beverage - Q Provide feedback on the proposed size and features of the conference facility 7 COMMUNICATION OF -THE RESULTS OF THE STUDY The information resulting from the study will be documented and presented in a full narrative report. We plan to submit a draft of our report to you for review, after which we will meet with you by telephone or~in our office, should you so desire, to discuss our findings, opinions and recommendations. LIMITATIONS OF THE STUDY Our report will be subject to the following customary limitations: 1. Our report will be dated at the completion of our primary market research. We have no obligation to update our findings regarding changes in market conditions or project concept that occur subsequent to the completion of our fieldwork. However; we will be available to consult with you regarding the impact of any subsequent changes on your project. 2. Our report, and the material submitted, may not be used in any prospectus or printed material used in connection with the sale of securities or participation interests to the public, or in any newspaper publicity or other public forum. 3. The ~ scope of our study and reports will not include the possible impact of zoning or environmental regulations, licensing requirements, or other such matters unless they have been brought to our attention and are disclosed in the report. 4. Any drafts or preliminary information communicated to you during the course of the assignment are for your internal management use only, and may not be disclosed to any outside third parties without our prior written consent. 5. Projections of operating results for conference centers are, by their nature, subject to uncertainty and variation. Projections are made on all of the pertinent data made available to the consultants at the time research is completed. Due to the many potential changes that can occur in the marketplace, and changes to the assumptions stated in the report, the actual operating results may vary from the projections, 8 and ,variations may be substantial.. The consultants will not be responsible for changes in market conditions or the underlying assumptions which occur subsequent to the final date of fieldwork. The reader is cautioned that updates to projections may be necessary if market conditions change. As in all studies of this type, any estimated annual operating results are based upon competent and efficient management. In addition to a written report, we will be prepared to make a presentation of our findings to the Vail City Council, as.well as to the community. The chart on the following table shows the preliminary project schedule for this assignment. 9 , ~ ! ~ ' PRELIMINARY PROJECT SCHEDULE ~ - WEEK_NO. ~ 1 2 3 4 S 6 7 8 9 10 PROCESS Orientation Meeting ~ - . Fieldwork • Vail Other Resorts " Phone Interviews Analysis of Market Data Conclusions 8 Recommendations . . Report Preparation _ Town Council Presentation'8~ • Preparation • • . PROJECT STAFFING The key personnel to be involved in this assignment will be Robert Benton of Robert S. Benton & Associates, James Hire of Hire & Associates, with Jeannette Roberts assisting - in the ~ research, analysis and preparation of .conclusions and recommendations. Resumes of each person to be involved in this assignment follow. • - • 11' .ROBERT S. BENTON 1610 Wynkoop Street, Suite 400 Denver, Colorado 80202 (303) 629-6900 r.~rnRIENCE ROBERT S. BENTON & ASSOCIrYI'ES, Denver, Colorado 1992 to present Provide real estate consulting and appraisal services to developers, investors and lending institutions of hospitality properties. PANNELL KERB FORSTER, Denver, Colorado Manager, Hospitality Consulting 1983 - 1991 ADDITIONAL INDUSTRY EXPERIENCE While completing undergraduate studies, held various positions within the hospitality industry. - ' ' ¦ The Petroleum Club, Denver, Colorado (1983) , ¦ Ramada Renaissance, Aurora, Colorado (1982 - 1983) ' ¦ El Rancho Restaurant, Golden, Colorado (1979 - 1982) ¦ Ramada Inns, Inc., Culver ,City, California (1978 - 1979) . AREAS OF EXPERTISE ¦ Real Estate Appraisal of a Variety of Hotels, Resorts and Golf Courses • ¦ Market and Economic Feasibility Analysis for Hotels, Resorts and Golf Courses ¦ Hotel Supply and Demand Analysis ¦ Hotel Income and Expense Analysis and Forecasts ¦ Hotel Site Selection and Analysis ~ Renovation and Conversion Studies ¦ Litigation Support and Researc h ¦ Hotel Market Position Analysis and Franchise Selection EDUCATION _ MBA -University. of Denver, Denver, Colorado. Specialization iri Real Estate - Finance. Graduation Date: March 1988. BSBA-University of Denver, Denver, Colorado. Specialization in Hotel and ' Restaurant Mana'gement.with anemphasis in marketing and finance. Graduation Date: March 1982. Appraisal Institute -Course work completed while working toward MAI designation. Real Estate Appraisal Principles ~ - ~ ' ¦ Basic Valuation Procediries ¦ Capitalization Theory & Techniques, Part"A & B ¦ Case Studies in Real Estate Valuation ¦ Standards of Professional Practice ROBERT S. BENTON ~Representattve Clients and Assignments American Realty Finance Corporation Appraisal of the Evergreen Lodge, Vail, Colorado Apache Corp.,..r,ion Highest and Best_Use Analysis of a Guest Ranch Located in Ucross; Wyoming Carpenter, Crout and Olmstead Appraisal of the La Fonda Hotel, Santa Fe, New Mexico Chandler West Development Concept Development, Market and Financial Feasibility Analysis and facility C~,.Y gyration - recommendations for a Proposed Convention`Center Headquarters Hotel, Denver, Colorado Chandler West Development Concept Development, Market and Financial Feasibility Analysis and facility Corporation recommendations for a Proposed Convention Center Headquarters Hotel, St. Louis, Missouri Chrisuian, Bynum and Johnson Market Study for a Proposed Hotel, Moab, Utah Colorado National Bank of DE,.l~.:.:. Appraisal of. the Super S Motel, Colorado Springs, Colorado Davis Graham & Stubbs Litigation Support, for Holiday Corporation regarding Holiday Corporation vs HisttYO Investors Denver F~ublic Schools Reti.:,...ent Appraisal of the Super 8, Castle Rock,Colorado .Association Faegre and Benson Appraisal and Litigation Support in regards to Marriott°s Mark Resort, Vail Colorado Federal Deposit Insurance Corporation Market Position Study for the Olympia Resort Hotel, Park City, Utah FIMSA, Inc. Appraisal of the Comfort Inn at Stapleton Intemational Airport, Denver, Colorado , ' Firehole Land Co..,..._h:.:on Market Study for a Proposed Hotel, West Yellowstone, Montana First Trust Company of Montana Appraisal of the Quality Inn, Great FaI1s, Montana ' Goldman Sachs and Compaq Market Research Regarding. the Vail, Colorado Lodging Market Hadid Development Companies Appraisal of the Ritz. Carlton Hotel, Houston, Texas Holiday Corporation Market Study for the. Conversion of the Raffles Hotel in Aurora, Colorado, to a Holiday Inn Crowne Plaza Holiday Corporation Market Study for a Proposed Homewood Suites; Albuquen~ue, New Mexico . Holiday Corporation Market Study for a Proposed Holiday Inn, Keystone, Colorado Home Savings of America Appraisal of the. Residence Inn by Marriott, Colorado Springs, Colorado ~ ' Hospitality Investmern Counselors Research Regarding Curren[ Market Expectations Relative to'the New Denver Intemational Airport's Impact on Existing Hotels at Stapleton International Airport ROBERT S. BENTON Rea..:.~entative Clients. and Assignments (Cons) Hotel Development Corpo.r.lon Market Study for a Proposed Hotel to be Located at the Cavan Sunport Centre, Albuquerque, New Mexico Husker Hostelries Appraisal of the Holiday lnn Kearney, Kearney, Nebraska Industrial Bask of japan Market Study and Appraisal for a Proposed luxury Hotel, ~ - Aspen, Colorado Iaterlockea.I-T'D. Preliminary Market Saidy for a P~posed 800 Seat Theatre to be Located in the isuerlocken Business Park, B........field, Colorado jackson Hole SId Co•,,~ ~,.~„on Market Study for a Proposed Hotel to be Located at the Base of the Jackson Hole Ski Area, Teton Village, Wyoming Simball Investment Company Appraisal of die Clarion hotel and Suites, Salt Lake City, Utah Metric Partners Appraisal of the Hampton Inn North, Colorado Springs, Colorado Mid Cider Company Market Study and Highest and Best Use Analysis fora 117 acre site Located in the City of Broomfield, Colorado PNC Realty Holding C~.. r .ion Appraisal of the Marriott .Hotel, Colorado Springs, Colorado Prudential Read Estate I~estors Appraisal of the Wildwood Hotel, Snowmass, Colorado Prudendal Real Estate I... ,.:,,.,ors Appraisal of the Hilton Hotel, Grand Junction, Colorado • P~,blic Emplo}ee's Redremeat Appraisal of the Holiday Inn, Craig, Colorado , Assuciadon of Colorado • (ARP, lac. ,Market Study and Appraisal for a Proposed Addition to the Quail Ridge Inrt, Taos, New :Mexico _ Boush Mitchell Carey Partnership Appraisal of the Marriott Hotel, Fort Collins Colorado Rubner and Cotner Appraisal of the Sheraton Inn -North Academy, Colorado Springs, Colorado Schepps New Mexico • Market Study for a Proposed Hotel to be Located in Taos, New Mexico Sodete Generate ~ ~ Appraisal of the Red Lion Hotel, Salt Lake City ,Utah Steamboat Ski and Resort Corporatba Market Study for a.Propwed Hotel to be Located at the Base of the Steamboat Ski Area, Steamboat Sprir4$s, Colorado ' The Boulder Creak Company Market Study and Appraisal of a Proposed Sheraton Hotel, ' Boulder, Colorado The Manrsfleld Foundation Market Study for a Proposed Conference Center to be located at Flathead ' Lake in Northwestern Montana United Banks of De..~, Appraisal of the Lodge at Var1, Var7, Colorado e VMS Realty Market Studies for the Westin Hotel -Downtown Denver, The Cherry Creek Inn grid the Westin-Vail RE~,S; BOON ~ tCos~ti~ ~t0 d Ass ~ - $cp~~~ ~ ~ vaneY tas Wces, ~ ~ ~ ~y~ Wtst~ bfesil~ e~ N~ M~co t r N~ M~~ ~~~rn 1~irP°n Ada ~ dom. ~xve=, Flu 8~ti App~~ ~ Suitrs Hotel, ~ ~ ~ ~,ynfield _ Ma'n ApF~'~ ~ ~as8° gaak A F~a1 for an ExP~ T~ ~p ~ket ScudY ~ee,'~1°n~ - _ - ~ ~ I ~ ` ~ i ' ~ - ~ - ~ - , ~ ~ ~ . ~ HIRE ~ _ • ~ . l _ f, ` • , & ASSOCIATES _ , r ; ' QUALIFICATIONS OF , - y ` • ~ JAMES W hucE ~ • - - - - ~ , EDUCATION: ~ ' . 1 ~ , ~ , University of Denver, Bachelor of ,,Science - Hotel and .Restaurant,.Management~~ Tri-State,`University; Bachelor of "Science -'Gener,al Business ~ f ' MEMBERSHIPS: . ,;International Society of-,Hospitality Consultants American Hotel and•Motel Association ~ Colorado Hotel and-Motel Association ' ~ a • Utah Hotel and Motel .Association ' • , f ~ \ ~ - , PROFESSIONAL HISTORY: ~ ~ ~ ` ~ r ~ Current ~ .Hire acid Associates . ~ - ' ' Professional Consulting--Services to the Hospitalityiand Tourism Industries ' r~- , ~ - 1979-1988 Pannell .Kerr Forster,~,Denver, Colorado - Senior-Principal ~ , ' 1971-1.979 Management pos,it'ions; •including General Manager of, Commercial and Resort Hotels AREAS'OF SPECIAL COMPETENCE: ~ , • . ' : ~ ~ ~ ACCOMMODATIONS INDUSTRY: _ ' ~ ~ Receivership; Distressed"Property Workouts; Marke,t'Research'; Operations • Analysis and Consulting;,"Facilities Planning'and•Development; Market and- , Financial {Feasibility;'' Industrial 'Revenue Bond Offerings; Limited ' Partnership Offerings; Public Offerings and Condominium Hotels;'~Economic Valuation and Appraisal..' T ~ ; ~ ' - z _ LITIGATION~SUPPORT: ~ - = ' ~ 1 ~ ~ , • Market Research; Real~Estate T:ax•Appeals;.Operations Analysis; Financial Analysis; Damage Determinatiom;~~Counsel Orientation and Expert Witness, ' ~ Testimony on Hospitalit'y,Related Cases. ~ • SECURITIES•`INDUSTRY: t. ~ _ • • i _ Product Due Diligence; ;;Mar-ket and Financial''Feasibility; General Partner ' ' Fees;i•Structufing,andl'Return on Investment Analysis; Limited Partner ' Investment and Return~on Investment Analysis; Broker/Dealer,, Education on__ ~ Product; Participated~in Application, Acquisition, and Management of NASD _ Licensed Broker/Dealer Firm. t • FOOD AND BEVERAGE INDUSTRY: ~ ~ ~ , Market Research; 'Operations Analysis; Industrial Revenue ,and Bond' Offerings; Limited Partnership. Offerings. ~ , ' - 1 ~ - • .1383 Solitude Lane ' Evergreen, Colorado 80439 Phone: 303/670-9966 Fax: 303/670-9967 Professional Consulting Services to the HospitaUty and Tourism Industries. ~ v _ ' ~ n ~ ` ~ / J. CONVENTION AND TRADE CENTERS: ` 1 , ~ / I ~ ` , ~ ` ` ` Market Research;` Financi~al.Feasibility; Financial Impact. RETIREMENT COMMUNITIES: ~ ~ ' ~ , `i ~ , ~ Market Research; Financial Feasibility; Bond Issues. " ~ ~ • REAL ESTATE•INDUSTRY: Distressed Property Workout;`Highest and Best Use; Economic 'Valuation and Appraisal; Land Planning; Mixed-Use Development Research; PUD Research; Financial Feasibility; Due Diligence. " • Market Research: ' ` Office,Residential,, Golf and Country Clubs, Financial Center, Retail, Residential Condominiums, City Clubs. - Re_sidential: Market Research, Absorption Analysis, Design Review. RECENT MAJOR PROJECTS: ~ - ~ , Receivership) for a.- 180-"room,, rmid-level, chain-affiliated hotel. .Under receivershi occu anc ~ p, p y, average rate and"cash flows increased., Hotel was sold and receivables collected. ~ , Real estate tax appeals on five properties of a major first=class hotel chain including valuation,. negotiation"and expert witness testimony. , - ~ Operations analysis and"review for, two, high-end dude ranches and a"four-star ski resort hotel. - ~ - " ~ ~ . - l Appraisal and valuation £or numerous hotels- from economy to luxury resort • ~ properties. ~ ~ - _ ~ . ' Litigation support fo'r owner of a hotel after termination~of lease~by a major hotel company. ~ . ' 1 . " • Litigation support for majority, owner ,of hotel when sued by minority partners for ` mis-management. - ~ ~ ` Workout for lender of a resort hotel in major sk-i area. _ c Litigation support, including expert witness testimony involving damages resulting from the closure of'a hotel for major construction. Market study and appraisal for the conversion, of a~luxury independent hotel to - a luxury chain affiliation.. ~ ti ` , Work with outside firm and FSLIC to value savings and loan hotel portfolio. Workout consulting including"market analysis, supervision 'of appraisal; property. financial positioning and.negotiation.with lender for a distressed 'national chain _ affiliated hotel. ~ Litigation support including arbitration expert witness testimony on claims of ' gross mismanagement of downtown luxury hotel (represented defendant). i Litigation support including expert•witness"testimony on damages resulting from inadequate construction of a major chain affiliated hotel (represented defendant),' ` „ ( _ ~ 5} ~ 2~_ ~ _ ~ - - " . , . ~ ~ ~ ~ i I ~ ~ - - Market and financial feasibility and preparation of investor return analysis for • \ .regulation D Limited Partnership offering-for resort hotel. _ ~ ' ' ~ Market feasibility analysis and on-going develop"ment consulting for a new concept amusement park and tourist attraction to be located in a retail shopping mall. Market and financial feasibility and preparation of investor return analysis for S=1 Public, ~Synciication. for resort hotel. ` ' ~ ~ Analysis of market position and .potential expansion of market share for amajor - Rocky Mountain destination ski resort city. Analyeis~of construction alternatives for the renovation or re-building of the club house for a major_ country `club •including market analysis for future membership increases. ~ ' Market feasibility for a major mixed-use-real estate development containing , retail, commercial office.;, financial` center, theaters and a hotel. _ , Market feasibility for a 2',000-acre mixed-ruse development including, residential, " country club; equestrian, resort hotel, lifecare center, and other uses.- , . , _ - ~ _ I - ~ J i \ • ` _ \ _ \ ~ 1 / ~ l ~ ~ ~ ~ I ~ ; ~ . ~ ~ - ' ' \ w / \ . _ ~ - J ' \ ' ~ ° ~ - , ~ . _ i ~ ~ ~ C / _ - I n i _ y - r' ' - ~ - - 3 - r y ~ ,1~ ~ t i~ QUALIFICATIONS OF , JEANNETTE H. ROBERTS PROFESSIONAL HISTORY Present Independent Fee Appraiser and Hotel Consultant Prior ~ Pannell Kerr.Forster, Denver, Colorado Senior Consultant 11987-1991) .AREAS OF SPECIAL COMPETENCE Real Estate Industry: - Hotel Appraisals, Feasibility and Market Demand Analyses for ' ~ Hotels and Related Real Estate. MAJOR PROJECTS Hotel Aporaisals: Appraisal of the Hilton Hotel in Grand Junction, Colorado Appraisal of the Holiday Inn in Alamosa, Colorado Appraisal of the Holiday Inn in Craig, Colorado . Appraisal of the Holiday Inn in Colorado Springs, Colorado Appraisal of the Marriott Hotel in Colorado .Springs, Colorado Appraisal of the Residence Inn in Colorado Springs, Colorado Appraisal of the Super 8 located in EI Paso County, Colorado Appraisal of the Super 8 located in Castle Rock, Colorado Appraisal of a proposed Nendels' Hotel irr Albuquerque, New Mexico Appraisal of the Best Western Airport Inn in Albuquerque, New Mexico , ' Appraisal of the Sheraton Hotel in Colorado Springs, Colorado Appraisal of the Hampton Inn in Colorado Springs, Colorado Market Studies: Market Research Assistance for Appraisal of a hotel in Salt Lake City, Utah , .Potential Market Demand Study for a Homewood~Suites Hotel to be located in Albuquerque, New Mexico Market Demand Study of a hotel to be located in Moab, Utah Market Demand Research for Appraisal of:a resort hotel in Winter Park, Colorado QUALIFICATIONS OF JEANNETTE ROBERTS MAJOR PROJECTS...CONT'D. ' Market Studies: Market Research and Penetration Analyses .for Litigation Support involving several major hotels in various states Market research in conjunction with an appraisal of the La Fonda Hotel in Santa ~Fe, New Mexico 'Market Demand Research in' conjunction with numerous Appraisals of chain affiliated hotels located in various states Market Demand Study of a convention ceriter hotel to be - located in Denver,~Colorado Market Position Studies for existing hotels in various states Extensive Hotel Market Research and Analysis for Litigation Support for a major lodging chain . Market Study and; ImpactAnalysis for conversion of an independent hotel to a franchise for a major hotel corporation . Analysis, Evaluation and Publication of major trends in the overall mid-level hotel market for 1987 Market Demand Study for extended stay housing accommodations for a major U.S. research facility in New Mexico. Potential Market Demand Study of a cultural theme park to be located in Salt. Lake City, "Utah .Market Demand Study fora 500 seat. theatre to be located in Interlocken Business Park in Broomfield, Colorado Potential Market Demand Study-fora 275 room Sheraton Hotel to,be located in Boulder, Colorado EDUCATION University of ,Denver, Bachelor of Science Business Administration, .Specialization in Hotel "and Restaurant Management ~ J PROFESSIONAL MEMBERSHIP Travel and Tourism Research Association, Mountain States Chapter, Board. of Director (1990-Present) Women in Commercial Real Estate, Board of Directions (1990- - 19911 EXPERIENCE RECORD On the following pages are the firm qualifications for Robert S. Benton & Associates and Hire & Associates. Each firm's practice is primarily dependent upon the hospitality industry. While we have each been part of a larger consulting organization, it is our philosophy that, by operating independent of a large organization, we have the ability to become more involved in projects, with less time spent on administrative issues. While we are marketing our firms to you, we are really marketing ourselves to you. The principals of each firm will be actively involved in the project, by completing the research and analysis ourselves. Mr. Benton and Mr. Hire completed a market study during 1992 for a proposed hotel\conference center to be located in the City of Thornton, Colorado. Our analysis indicated that development of the project was not feasible as of the date of the study, but outlined. parameters that the City of Thornton needed to monitor and consider in order to determine the proper timing for the proposed development. For any questions regarding this project, please contact Mr. David Wenzel, Director Community Development, at (303) 538 - 7295. Mr. Hire and, Mr. Benton, during their work with Pannell Kerr Forster, were involved in several projects with the Broadmoor Hotel in Colorado Springs. Work included a complete analysis of the meeting and conference market and usage projections for the Colorado Centre and International Centre Exhibit Halls,as well as other meeting space within the Broadmoor. Mr. Hire supervised the appraisal which resulted in the sale of the Broadmoor by the EI Pomar Foundation. For further information, please contact Mr. Galen Drake of Rottman, Harris, & Drake at (303) 629 - 6900. While with Pannell Kerr Forster, Mr. Benton and Mr. Hire worked together on a market study for a proposed conference center to be located near Flathead Lake, Montana. This study was completed for the Mike and Maureen Mansfield Foundation,. which 21 • was based in Helena, Montana. Our analysis and interviews indicated that the project would not be feasible, primarily due to its remote location. We were retained by the executive director of the foundation, who has since resigned. Therefore, no contact is available. Mr. Benton completed several market studies, as well as development consulting for a proposed 1,000 -room convention center hotel to be located in downtown Denver. The facility was designed to have over 60,000 square feet of meeting and conference space. This analysis included a significant amount of research regarding the potential group/conference business that could be, attracted to the facility independent of groups utilizing the convention center. Our research with meeting planners helped to define the facilities needed to attract these groups, as well as room rates they were willing to pay. The client for this assignment was Chandler West Development Corporation. The contact for further information is Mr. Allen Kiel, who can be reached • at (303) 771 - 5555. Mr. Benton also completed a study fora 1,000-room convention center hotel for Chandler West Development Corporation in St. Louis, Missouri. During the past year, Mr. Benton completed has been involved in various assignments in the Colorado Resorts, including an evaluation of Marriott's Mark Resort and the Westin Hotel for Holiday Inn Worldwide for acquisition purposes. ,This assignment required an analysis of the group/conference market in Vail, as well as other Colorado resorts in order to prepare potential operating projections for the properties. For further infor-mation, please contact Mr. Paul Foskey, Director of Development Planning for Holiday Inn Worldwide at (404) 604 - 8585. Mr. Benton has been involved in various assignments in the Colorado resorts over the past several years, which involved an analysis~of group/conference demand. Several noteworthy assignments are listed below: 22 Steamboat Ski & Resort Corporation -Market Study for a proposed hotel with conference facilities to be located at the base of the Steamboat Ski Area, in Steamboat Springs, Colorado ~ Bank of New York - An appraisal of the Hotel Jerome located in Aspen, Colorado Q Prudential Real Estate Investors - An appraisal of the Hotel Wildwood located at the base Snowmass Ski Resort, in Snowmass Village, Colorado. The Snowmass Conference Center is a primary demand source for the hotel. This assignment requires an analysis of demand generated by the Snowmass Conference Center Q American Realty Finance Corporation - An appraisal of the Evergreen Lodge located in Vail, Colorado , Mr. Hire is currently completing a consulting engagement regarding a major , conference and training center project being proposed by .the University of New Mexico in Albuquerque. This project would involve specialized meeting and training facilities for the University as well as Sandia, .Los Alamos and Phillips. National Laboratories. One of the purposes of the project is to involve the University in the transfer of technology from the nuclear laboratories to peacetime private industry use. This development is proposed to include 50,000 to 80,000 square feet of meeting space, a hotel and a golf course. For further information, contact Mr. Kim Murphy, University of New Mexico (505) 277"- 4620. Mr. Hire has been involved in numerous studies for conference and convention centers over the last several years. These assignments are outlined as follows: • 23 Clieht Name . Services Provided Scanticon .Corporation Feasibility study for an executive conference center and hotel to be located in Denver, do', Atlanta, Georgia and Minneapolis . Breckenridge Hotel Corp. Feasibility study for an executive conference center and hotel, golf course and health spa . _ ~ to be located near St. Louis, Missouri ' Copper Mountain Resort Feasibility study for a free ,standing conference center, facility planning and financial structure for the Copper Mountain Resort, Colorado. Las Colinas Development Corp. Feasibility study fora conference center to be ' ~ located near Dallas, Texas ` City of Aurora Feasibility study, economic impact study, and facility planning for aconvention/conference .center to be located in Aurora, Colorado City.of Denver Feasibility Study, economic impact analysis, sizing. analysis and site selection for a new ' convention center to be located in .Denver, Colorado City of Ogden,, Utah Preliminary demand analysis and consulting regarding a proposed convention/conference - center Lockwood Associates Preliminary demand analyses and consulting ' regarding a proposed conference center in Breckenridge, Colorado City of Provo, Utah Feasibility'study for a proposed convention center to be located in Provo, Utah City of Fort Collins Feasibility and economic impact study for a proposed convention center to be located in Fort Collins, Colorado ,Please contact us for additional information on any assignment completed by Mr: Benton or Mr. Hire, if necessary. 24 , - ~ - - 1 QUALIFICATIONS' OF ROBERT S. BENTON & ASSOCIATES Robert S. Benton & Associates was formed in late 1991, after spending nine years with Pannell Kerr Forster, an international accounting and management consulting firm specializing in the hospitality industry. Robert S. Benton & Associates provides consulting services to developers, lending institutions, and investors of hospitality, projects. While with Pannell Kerr Forster, Mr. Benton was the Manager -of the hospitality consulting practice in the, Denver office. -Mr. Benton was involved in a variety of hospitality projects throughout the Rocky Mountain region, ranging from budget hotels to full service convention hotels and resorts. Prior to joining Pannell Kerr Forster; Mr. Benton held various positions in hotel operations. Mr. Benton received an undergraduate degree in business with a specialization in Hotel and Restaurant Management and an MBA with a, specialization in Real Estate -Finance, both. from the University of Denver. 25 - , ~ ~ . ~ v , L ~ _ - ~~HIRE - ~ ~ ; ~ - ~ : ~ ~ , _ , t & ASSOCIATES - ~ ~ . , ~ . , - i J , ~ ~ ~ ~ - . ,STA'r~MENT OF QUALIFICATIONS ~ ~ - I~nE & ASSOCIATES - ~ ~ , _ - - i James (Jim) > ~,W. Hire founded . Hire, & Associates in ~ 19.88, after spending nearly ten years with Pannell Kerr -Forster, an International accounting and 'consulting firm. Hire & Associates , specializes in-professional consulting serv,ices,to the hospitality: and tourism industries. • ~ During: Mr. ~ Hire'-s tenure` at- Pannell,Kerr Forster, ~he was -Senior Principal and "Executive-in-Charge of, the Management Advisory Services .Department of the'~Denver, office.` ~Mr. Hire, lectured frequently to professional societi}es, associations, and at ' technical meetings in the hospitality, industry, nationwide. He has also been a regular. guest `,lecturer at the University of Denver School of Hotel and Re"staurant Management. _ " Prior to joining Panriel~l,Kerr Forster in 197;9, Mr. Hire held various positions~in hotel operations including General Manager and Food.and Beverage Manager: Hi•s operations,experience with amulti-~, hotel chain. included properties at ski .resorts., beach resorts,";°--a .high-rise suburban hotel, and a~n airport property: At Pannell~~~Kerr Forster,~•Mr. Hire was involved "in more than 1,000 hotel related studies:, Since forming Hire Associates, he has performed..assignments relating-to: ~ ~ ' • Appointed receiver of hotel properties ' f _ . • Market and .;economic feasibility studies ~ ' - - ~ ~ ~ _ , •`Expert witness testimony and economic damages in several - cases including: _ ~ - - ~ ~ • Lost profits 'from mismanagement 'L , • Lost profits 'from non=renovation - ~ - , • The effect of building-a competitive hotel adjacent ' - ~ to an existing hotel - ` • Valuation in .numerous real esta-te tax ,appeals \ . • Loss ~of value and profitability from poor ' construction - ~ ' ~ ~r~ _ , _ • Hotel loan valuation and- ~workout~ , ~ , - ~ - - _ - - . "4 , - S ~ , . ~ 1 ~ ~ I / ~ , \ ~ 1 - - 1383 Solitude Lane i~ergreen, Colorado`80439 Phone: 303/670-9966 -Fax: 303/670-9967' • ' Professional Consulting Services to the HospitaUty and Tourism Industries. ~ - - ~ ~ ~ , " ~ ~ ~ r • Hotel appraisals,, including: • ^ ~ " • Luxury suburban hotels" - •"Luxury resort hotels - • Mid-level suburban hotels v" • Mid-level resort hotels • Economy lodging properties ~ Performed loan, valuation analysis of hotels for FSLIC • Appraisa-1 of ,a mid-sized 'ski area • Operations analysis and review of hotels and dude ranch 'facilities " • Valuation 'and due. diligence ana~lysis`,and negotiation for the purchase/sale of hotels • Buy/sell/hold analysis of tourism facilities and hotels for lenders in~,possession J ~ Mr. Hire is Secretary and a founding member of the International' Society of Hospitality Consultants- (ISHC). Founded in~1989 by 20 of the nations most recognized ,consultants and now up to ~6;0 members, the ISHC provides Hire & Associates with a nationwide net- work of hospitality expertise. Whether working, on. larger assignments together or assisting one another i:n unfamiliar locations, ISHC members can be relied upon for their 'industry knowledge and member support. Members include leading consultants " in hospitality, appraisal, marketing, a'nd tourist related develop- . ments". ~ ~ f - " Hire & Associates has been°set up to handle a wide variety of " hospitality and tourist related assignments._ Working ,through ISHC members, Mr. Hire can cover `a wide geographic area with local expertise. Members also supply support fo,r~1larger assignments to offer true professional, hands-on consulting services: v ~ - r / ~ ~ i - ~ ~ / , ~ ' - 2 _ ROPOSAL BUDGET COST P Our professional fee for the foregoing study will be 530,000, inclusive of all our expenses. Included in this section of the proposal, is a budget outlining the estimated fees by task and anticipated expenses. The estimated expenses include delivery of twenty five (25) copies of our report. Additional copies would be provided at our report production cost. ~ ~ ~ ' As is customary in assignments of this nature, we request a retainer of 515,000 (50 percent) prior to scheduling the assignment. Upon delivery of the draft report, the remainder of our fees and expenses would be billed to you and would be payable within thirty days or upon delivery of the final.~reports, whichever is sooner. The remainder of our fees and expenses, if any, will be payable within thirty (301-days of your receipt' of our final report and/or invoice. . • ~ , Based on our current scheduling, we should be able to commence the assignment within two (21 weeks of receiving your authorization to proceed. We anticipate being able to deliver a draft report to you within eight to ten weeks of beginning the assignment. If we are selected, vve would be willing to work with you in' establishing a study timetable. If, at any time, we feel that the project is not viable, we would ' immediately inform you of our concerns. If you desire us to stop'at that point, we would bill you only for the time and expenses incurred- to that point. 28 PROJECT BUDGET Bob Jim Jeannette PROCESS Benton Hire Roberts Total Orientation Meeting 3• 3 3 9 Fieldwork Vail • - 20 12 4 36 Other Resorts 20 12 16 48 Phone Interviews 3 2 56 61 Analysis of Market Data ~ ~ 20 20 10 50 Conclusions 8~ Recommendations 5 - 5 3 13 ,Report Preparation - 40 - 24 20 84 Town Council Presentation & 4 4 4 . 12 Preparation - Community Presentation 4 4 4 12 TOTAL HOURS - 119 - _ 86 120 325 . HOURLY RATE X100.00 $100.00 550.00 $81:54 FEES ~ $11,900 ,$8,600, $6,000 $26;500 ESTIMATED EXPENSES Lodging (Ten nights @ $75.00/night) $750 Automobile Travel(1,500 miles @ $0.25/mile) $375 Meals $500 Telephone Expense (for Meeting Planner Interviews) $250 Report Production (Typing, 25 Reports, Maps, etc.) $1,500 Miscellaneous (Deliveries, Purchase of Outside Data, etc.) $125 TOTAL ESTIMATED EXPENSES - $3,500 TOTAL FEES AND EXPENSES 530.000 APPENDIX A . f r~xx irrr~r• ¦rsr~rrr ¦uuu •ruu¦• •..r~.¦ ¦¦r. . . ~ x ..x LnJrr•Fip h A.frcioexm COLORADO HQfEL AND LODGING ASSOCIATION ROCKY MOUNTAIN LODGING REPORT Colorado Edition December 1992 THIS 1992 YF~4R END EDfT10N OF THE LODGING REPORT INCLUDES HOTELS THAT DO NOT PARTICIPATE qV OUR M(N~lIM.Y SURVEY DECEMBER 1992 1992 1991 +aQO OCCUPANCY AVERAGE OCCUPANCY AVERAGE OCCUPANCY AVERAGE OCCUPANCY AVERAGE lO~jJON PERCENTAGE ROOM RATE PERCENTAGE ROOM RATE PERCENTAGE ROOM RATE p~JiCENTAGE ROOM RATE DELAYER 50.9E (54.03 66.2E (60.46 63.4E (58.28 60.1E f56.38 COLORADO SPRINGS LEVEL I 44.9E (52.01 66.3E f59.48 62.Of (59.00 61.81 ff4610..223 TOTAL II ~ f4 ~ S 4. ~ S .3 ~ f51 6. Z1 RESORTS 59.4E f143.36 53.3E f120.14 53.8E (111.86 51.91 f112.43 OTHER COLORADO 45.4E f59.27 60.9E (54.67 58.5E (52.34 58.4E f46.61 COMBINED TOTALS 50.5E (69.12 63.4E f66.58 60.8E f64.81 58.3E (61.38 PERCENTAGES OF OCCUPANCY AVERAGE ROOM RATES 1992 VS. 1991 1992 VS. 1991 85 80 BO I 75 7S 70 I ~ 70 65 I I 65 60 55 6p 50 y ,'oil I I I I i l l I so~~ JAN MAR MAY 7UL SEPT NOV JAN MAR MAY JUL SEPT NOY F1B APRIL JUN AUG OCT DEC FF9 APRII. JUN AUG OCT DEC 1992 OCCUPANCY .1991 OCCUPANCY _.,.1992 AVERAGE RATE -1991 AVERAGE RATE The Rocky Mountain Lodging Report is compiled by: Rottman Harris & Drake, PC In cooperation with the Colorado Hotel and Lodging Association, Robert S. Benton 8c Associates and Hfre 8c Associates. Readers are advised that the above do not represern the data contained herein to be definitive. Neither should the contents of this publication be construed as a recommendation on policies or actions. Quotation and reproduction of this material are perniltted with credit to the Rocky Mountain Lodging Report For additional information, please contact Robert Benton or Galen Drake ai (303) 629-6900 or Jim Hire at (303) 841312& Rottman Harris & Drake, PC and Robert S. Benton 8c Associates 1610 Wynkoop, Suite 400 Denver, Colorado 80202 (303) 629-6900 ¦ One Denver Place ~ 999 18th Street, Suite 1240 ¦ Denver, Co{orado 80202 ~ 303/297-8335 FAX : 297-8104 N M AFFILIATED WITH AMERICAN HOTEL ANO MOTEL ASSOCIATION SUMe'~ARY OF OCCUPANCY RATES AND AVERAGE DAILY ROOM RATES - . FOR THE STATE OF COLORADO OCCUPANCY PERCENTAGE AVERAGE ROOM RATE 1992 1991 1991 J.Af~1 53.44 51.396 $68.73 $67.21 fE8 59.7% 58.4% $73.14 $72.31 ' MAR 64.1% 57.2% $74.96 $73.96 APR 55.0% 54.0% 560.75 $57.89 MAY 58.0% 59.4% $60.49 $57.80 JUN 72.7% 70.396 $62.97 $60.79 Jill. 77.6% 73.3% $64.90 $61.54 AUG 78.5% 75.2% $65.46 $62.71 SEf' 70.2% 63.2% $62.01 $59.51 OCT 63.2% 59.4% $62.13 $59.50 NOV 51.0% 48.0% $57.91 $56.44 DEC 50.5% 45.0% $69.72 $67.84 'YTD 63.4% 60.8".6 $66.58 564.81 'Year-to~Date Totals include hoteGs that do not participate in our mor><tdy survey. Source: 1991 Data -Pannell Kerr Forster - . U ~ ti TOWN OF VAIUSLOSKY & COMPANY. INC. AGREEMENT THIS AGREEMENT made is entered into on this day of March, 1993 by and between the Town of Vail, a Colorado municipal corporation ("the Town"), and Slosky & Company, Inc., a Colorado corporation ('the Consultant"). WHEREAS, the Town wishes to hire the professional services of the Consultant to advise the Town regarding an analysis of four (4) existing groundwater monitoring wells at the Old Town Shop property; and WHEREAS, it is in the public interest that such professional services be completed. NOW, THEREFORE, the parties mutually agree as follows: 1. Project Description The Consultant shall pertorm all necessary services as provided for in this Agreement in connection with an analysis of four (4) existing groundwater monitoring wells at the Old Town Shop property ("subject parcel"). 2. Scoae of Services The Consultant agrees to pertorm the following tasks: Task I Sample and Analyze Four (4) Existing Groundwater Monitoring Wells. The four (4) existing wells on the Old Town Shop property will be purged and the depth to groundwater measured. The purged water will be placed in 55-gallon drums and stored on-site. The presence of free-product will be tested with an interface probe. Samples obtained from each well will be tested for the following parameters: o Total Volatile Petroleum Hydrocarbons (TPH-gasoline) o Benzene, toluene, ethylbenzene, xylenes (BTEX) o Methyl-tert-butyl-ether (BTBE) o Total Extractable Petroleum Hydrocarbons (TPH-diesel) It is assumed that the purged water can be disposed at the wastewater treatment plant next door. If this is not the case, there will be an additional fee for disposal of this water. The groundwater gradient and flow direction will be determined. ~~A-lefta~~e{~ot'~-f3e~,~r9pared- ~ -su~a'~arizng-a~etk~s~sed-and-tie-rests-cif&ir~--ref ~wiiF~e.,~, epc~+# r,:.. e~he~esalts-et-tl , -&Ra~yses-#(~#~FesE11t6-0f~t~e-Feb-1'~~dwC,~;: ~elpses. The laboratory reports will be provided to counsel. ~Cj 1 M . • r .i ~ Task II Provide Technical Assistance to the Town and Legal Council, The Consultant will assist the Town and its legal council in evaluating potential courses of action. 3. Personnel The Consultant agrees that the principal personnel responsible forthe performance of these Tasks shall be Leonard C. Slosky. The Consultant agrees that no substitute of this personnel shall be made without the prior approval of the Town. The Consultant represents that its personnel engaged in this project is fully qualified and property trained to perform the services related to this Agreement. None of the services provided for in this Agreement shall be subcontracted without the prior written approval of the 1 GGj Town. The Town hereby approves the use of HWS Technologies, Inc., as a subcontractor. 4. Schedule of Performance The Consultant's shall perform the Tasks spec'rfied in this Agreement on the following schedule: Task 1 Taks 1 shall be completed within thirty (30) days after authorization to proceed. Tac~-2-- / G, -y4--re~t•-evaltt~ting-patefltiaF-coursesbf~ct~~„ ..il~l9e-#ilec~~vrii}iin-s»c~y--f6~)-days-af#er- 1jv --au~Hor+z~atio9 i~°~reeee~F 5. ComAensation. The total fee for all Tasks is estimated as follows: Task 1 Sample and Analy2e (Four Facisting Groundwater Monitoring Wells. Labor Environ. Scientist/Slosky (6 hrs. @ S90/hr.) $ 540 Hydrologist/Keith (6 hrs. @ $70/hr.) $ 420 Geologist/Maloney (16 hrs. @ $55/hr.) $ 880 Drafting Technician (2 hrs. @ $45/hr.) $ 90 Typist/Clerical (2 hrs. @ $28/hr.) S 56 Subtotal $1,986 Reimbursable Expenses Equipment/Vehicles $ 275 Miscellaneous $ 50 Production Supplies S 25 Subtotal $s50 Laboratory Analysis of Groundwater TVPH-gasoline, BTEX & MTIIE (4 samples @ $154 ea.) $ 616 TEPH-diesel (4 samples @ S97 ea.} S 388 Subtotal $1,004 (If the purged water cannot be disposed at the wastewater treatment plant next door, there will be an additional fee for disposal of this water.) Total Task I 53,340 2 ' r Task II Provide Technical Assistance to the Town and Legal Council. - Labor Environ. Scientist/Slosky (8 hrs. @ $90/hr.) $ 720 Hydrologist/Keith (2 hrs @ $70/hr.) $ 140 Typist/Clerical (1 hr. @ $28/hr.) S 28 Reimbursable Expenses Miscellaneous S 50 Subtotal $ 50 Total Task II $ 938 6. Reports. Documents All reports and any incorporated documents, drawings, or plans shall become the property of the Town and it is agreed that the Consultant shall not retain any proprietary rights of said reports, documents, drawings, or plans. 7. Independent Contractor The Consultant is an independent contractor, and nothing contained in this Agreement shall constitute or designate the Consultant or any of the Consultant's employees as agents or employees of the Town. 8. Insurance The Consultant shall obtain and maintain in force for the term of this Agreement the following insurance: A. Comprehensive general liability (including personal injury) in amount not less than five hundred thousand dollars ($500,000.00) per individual and not less than one million dollars ($1,000,000.00) per occurrence. B. Workman's Compensation and employer liability in accordance with the Workman's Compensation Act of the State of Colorado for employees doing work in Colorado in accordance with this Agreement. - C. Automobile liability (including owned, non-owned, and hired) in an amount not less than one million dollars ($1,000,000.00) per individual and not less than one million dollars ($1,000,000.00) per occurrence. D. The above coverages shall be obtained from companies acceptable to the Town. Cert'rficates of Insurance evidencing automobile liability coverage shall be furnished to the Town at the time of the signing of this Agreement. The general liability policy shall include the Town as an additional named insured by policy endorsement. 9. No Waiver No waiver of any of the provisions of this Agreement shall be deemed to constitute a waiver 3 any other provision of this Agreement, not such waiver constitute a continuing waiver unless otherwise expressly provided, nor shall the waiver of any default of the terms of this Agreement be deemed a waiver of any subsequent default. 10. Indemn'rfication The Consultant agrees to indemnrfy and save the Town, its agents and employees harmless from and against all claims, demands, liability, damages, suits, actions or causes of action of every kind and nature, including court costs and reasonable attorney's fees, defending such claim, which may be brought or asserted against the Town, its agents or employees arising out of the negligent acts, errors, or omissions of the Consultant in the performance of this Agreement. 11. Termination The performance of the work provided for in this Agreement may be terminated at any time in whole or, from time to time, in part by the Town for its convenience. Any such termination shall be effected by delivery to the Consultant of a written notice spec'rfying the date upon which termination becomes effective. This Agreement may also be terminated by the Consultant in the event of a material default of any of the terms and conditions of this Agreement by the Town, provided the Consultant has first provided the Town with written notice of the default and the Town shall have failed to cure the spec'rfied default within seven (7) days of receipt of the notice. In the event of termination, the Consultant shall be paid on a pro-rata basis satisfactorily completed prior to the date of termination and for expenses prior to the date of termination. 12. Jurisdiction and Venue The jurisdiction and venue of any suit or cause of action under this Agreement shall lie in Eagle County, Colorado. 13. Notice Any notice provided for in this Agreement shall be deemed given if mailed to the respective parties at the following addresses: Town of Vail 75 S. Frontage Rd. Vail, Colorado 81657 Slosky & Company, Inc. Bank Western Tower 1675 Broadway, Suite 1400 Denver, Colorado 80202 14. Assignment This Agreement is for expert services of the Consultant that may not be assigned without the prior written consent of all parties to this Agreement 15. Compliance with Law The Consultant will not perform any of the services provided specrfied in this Agreement contrary to any local, state, federal, or county law. 4 . • 16. Severability Should any section of this Agreement be found to be invalid, all other sections shall remain in full force and effect as though severable from the part invalidated. 17. Discrimination The Consultant shall not discriminate against any employer or applicant for employment because of disability, race, color, age, sex, religion, or national origin. 18. Intention of the Parties This Agreement contains the entire intention of the parties and may only be changed by a written document signed by the parties. 19. Execution The parties have executed this Contract on , 1993. TOWN OF VAIL, a Colorado municipal corporation By: Lany Grafel, Acting Town Manager SLOSKY & COMPANY, INC. a Colorado corporation By: President C:~,SLOSKY.AGR 5 TO: Vail Town Council FROM: Community Development Department DATE: May 11, 1993 SUBJECT: We Recycle Location Alternatives 1. PURPOSE STATEMENT The expansion of the Vail Police Department facility which is scheduled to begin in August of this year has warranted a review of the available alternatives for relocation of the recycling center located on the west half of the municipal annex. A result of the construction which must be addressed is adequate parking for the vehicles which will be displaced. For this. reason the alternate locations for the We Recycle operation are being considered. 2. CURRENT FACILITIES & OPERATIONS Eagle County's, more specifically the Town of Vail's, recycling services are currently provided by We Recycle in a cooperative effort with BFI. We Recycle is the overseer of the entire operation consisting of collection, sorting, packaging and transport. We Recycle and BFI have entered into a contract whereby BFI provides services for the curbside collection of newspaper, glass, plastic and aluminum from residential properties, glass from commercial businesses and collection of materials deposited at the drop-off locations in Vail, Minturn, Avon, Edwards, Eagle and other miscellaneous satellite locations. These materials are then transported to either the BFI/We _ Recycle warehouse in Wolcott or the municipal building annex in Vail. We Recycle's operations are currently split between the two facilities because neither facility is large enough to house the entire operation. The Wolcott facility is currently used as a warehouse for processing/handling materials to be recycled. At this location newspaper is sorted to remove paper and plastic grocery bags and other garbage prior to placement in a large transport container housed outside of the 3,000 sq. ft. warehouse facility. Plastic is also culled, sorted and baled for transport inside of the warehouse with the completed bales stored outside the building until a full shipment has been accumulated. The warehouse houses two balers which are used for baling plastics, as previously mentioned, and for baling corrugated cardboard which is part of a pilot program started by We Recycle in cooperation with a small number of local businesses. They are hoping to expand this operation in the future as demands and budgetary constraints allow. While the sorting and baling operations occur within the facility, storage of all baled cardboard, plastic, stored newspaper, glass and phone books occurs outside of the facility. The Vail location at the municipal annex currently functions as the aluminum handling area, office paper recycling outlet, magazine collection as well as the seasonal recycling of phone books and Christmas trees. This location is also adrop-off location for glass, plastic, aluminum and newspaper. There are large bins housed in the parking lot for glass and newsprint from commercial, residential and drop-off collection. Many of the commercial establishments not participating in the curbside program drop off glass and aluminum at this facility. Several of the newspaper distributors also bring extra papers to this location as opposed to filling'the bins at the satellite locations. There is also one truck housed at this location which is used periodically to transport plastic and cardboard to Wolcott for baling. Please see the attached site plan which shows the current arrangement for We Recycle. The relocation of the entire operation would make 10-11 additional parking spaces available. It should also be noted that an indoor air quality consultant made a number of recommendations to improve indoor air quality in the municipal annex. All recommendations have been implemented except for a recommendation to move We Recycle to another location. Air quality in the municipal annex has improved significantly with improvements to the building's HVAC system per the report. 3. ALTERNATE LOCATIONS Several options have previously been discussed for the relocation of the recycling center from its present Vail location. The options are listed below along with the pros and cons of each. fia (A) RELOCATE THE ENT{RE OPERATION TO WOLCOTT BFI is currently providing half of its warehouse space at a nominal charge. The 3,000 sq. ft. warehouse space is currently used for sorting and baling products in preparation for transport with the majority of the product storage occurring in containers or on pallets outside of the facility. The major drawback to the Wolcott location is poor semi access due to site constraints and current demands on the site. The current aluminum recycling program depends on the large semi trailer and can crusher provided courtesy of Anheuser-Busch located at the old post office location in Vail. The semi is filled with crushed aluminum cans and traded for an empty trailer when full. The semi must be able to get in and out of any location relatively easily to facilitate this transfer. Site visits to the BFI location in Wolcott have shown that this aspect of the operation is not possible and additionally it must be remembered that We Recycle operates from this location courtesy of BFI, but it is principally a BFI operation. (B) RELOCATE TO THE OLD UPPER EAGLE VALLEY FACILITY ON RED SANDSTONE ROAD This location was initially studied before the old post office site was decided upon in 1989. The site is desirable due to the size of the structure which is not immediately obvious because of its below ground and grade location. The site could easily be used for docking and loading facilities as well as having the added advantage of being apre-existing facility not currently in use. While there is an existing structure on the site, a considerable expense would be required to provide access to the lower level of the structure for loading and unloading operations. This would involve earth moving and concrete sawing to provide openings through concrete walls to access the lower level of the structure. It is also fairly safe to assume that a considerable amount of landscaping and berm work would be required to provide visual screening of the facility from the neighborhood. The multiple access points provided on the site would easily facilitate a semi for the aluminum recycling operation. There is concern that this location would be met by opposition from the neighborhood due to the increased vehicle traffic, noise, odors and the visual impact of a recycling center located in a residential neighborhood. (C) RELOCATE TO THE OLD TOWN SHOPS FACILITY ON THE SOUTH FRONTAGE ROAD This proposed site has been considered several times in the past and was also considered prior to deciding on the current location. The operation could be transferred to this location relatively easily provided adequate facilities could be supplied. A recycling center would be compatible with surrounding land uses and would not create a significant nuisance. If the center was to relocate to the lower portion of the building, space needs of the operation would require two of the garage bays, access to water for mopping and restroom facilities for the staff. This would displace the "cherry picker" and additional maintenance equipment stored at this location. There is also a fire engine currently housed here which is required by the Town to meet its Insurance Services Office (I.S.O.) rating and must be maintained in operation ready condition. Additionally, if the aluminum semi and can crusher are relocated to the site, 220 volt power must be provided to run the crusher and a structure to house the crusher since the site is not secure. A visit to the site indicates that the best possible location for the semi trailer which would still allow vehicular access to Upper Eagle Valley would be the bank along the west side of the driveway below the Exxon station. This would require the construction of a structure to house the can crusher with adequate power and some heat. Estimates for this type of a structure range from $15,000 to $20,000 plus possible landscaping improvements. The majority of the containers currently located at the old post office location would be relocated to this site with possibly one multi-compartmented container remaining at the post office location to continue to allow drop off of materials by the general public. 4. PROS AND CONS OF THE ALTERNATIVES (A) RELOCATE THE ENTIRE OPERATION TO WOLCOTT Pros: *Centralized location for entire operation Cons: *Insufficient space on site to relocate entire operation *Site constraints prevent semi access "Easy access for Vail users is decreased (B) UPPER EAGLE VALLEY FACILITY ON RED SANDSTONE ROAD Pros: `Sufficient space for entire operation *Site is semi accessible Cons: *Considerable expense involved to make site useable: site work, concrete cutting, landscaping *Potential neighborhood objections: traffic, odor, noise *Increased vehicular traffic to the neighborhood (C) OLD TOWN SHOPS Pros: *Operation from Municipal Annex could be relocated to this area *Semi accessible, although limited *Provide 10-11 more parking spaces at the Municipal Annex Cons: *Lack of space to relocate equipment currently stored on premise *Construction of housing for can crusher assembly at considerable expense ($15K-$20K), plus potential landscaping costs *Potential space problem with required access to Upper Eagle Valley based on the number of storage containers which would be on site *Potential safety problem for drop-off and pick-up of gymnastics students 5. FUTURE PLANS OF WE RECYCLE Mauri Nottingham, on behalf of We Recycle, has approached the Town of Avon about the possibility of having a permanent recycling facility incorporated as part of their proposed Public Works facility. His proposal is for a 6,000 sq. ft. indoor warehouse with additional outdoor storage for containers and vehicles. His proposal is being considered, but as yet no definite decisions have been made and the future of his proposal is uncertain. If the proposal is accepted, it would probably be 1 - 2 years before the facility is constructed and the entire operation would be relocated. 6. STAFF RECOMMENDATION At this time it may make the most economical sense to leave the recycling center at its current location and remove all of the outer operations to the parking area of the old town shops with the exception of the aluminum semi and one drop off bin. This would f-gee up the remainder of the parking lot for use which will help the overall parking problem at the municipal site. Approximately 18 parking spaces would be provided without the additional expense of building a structure to house the can crusher. Staff makes this recommendation with the understanding that this is a short term solution to a problem which requires a permanent solution. Staff would also make the recommendation that the Town of Vail work with We Recycle, BFI, Eagle County, Town of Avon, and other interested and affected parties to come up with a permanent location for the recycling operation by the end of the Police Department expansion approximately one and a half years from now. It should be noted that all three alternatives are short term locations for the We Recycle operations. A permanent location wi{I be required in 1 - 2 years, but in the interim the most viable alternate location to the municipal annex for We Recycle appears to be the Old Town Shops. .r - F~ BREZEE'S PRINTING SERVICES. ~ ~ !f We Can't Do It You Don't Need It. - 4505 East Hinsdale Place Litt{eton. Co{orado 80122 (303) 850-0916 i 1 _ f { t ~ i ~ ~ _ _ ._s. ' ~ _ j ~ - - _ . .r . - --r...... :i ~ - _ i - - 0~ :4 . ; ' w . 3-- i J Q ' _ . i i ~ t ~ ~ ! : ! ! i ~ i ~ f ~ ! ~ ~ i ~ ~ : t i _ 1 i 5 f s i i._ 1. . . ~ i 1 i : i _ _ - \ l3 ~ r ; r i ~ n , , 1 i . _ . ~ ~_.l _ 5. ~ . _ : - _ : y_ _ - _ ..CTR~uGtC to . 1 _ ~ ~ ~ ~ i t _ i ' i ~ i ~ . ` J ~ ~ ._d. ~ ~..T u © E 1 PAD ! n 'L ~ f"'~T , ~ ~ ~ ~ w~~. ~~~~J ~ - ~ ~ ~-~o C e PLANNING AND ENVIRONMENTAL COMMISSION May 10, 1993 AGENDA Project Orientation/Lunch 11:15 AM Site Visits 12:00 PM Savoy Villas/Simba Land Corporation 2346 Cortina Lane/Brinkman Paul Anderson First Bank Work Session 1:15 PM 1. A request for a work session for a major amendment to SDD #5 to allow for the development of the remaining portion of the Simba Run SDD, Savoy Villas, located at 1100 North Frontage Road, more specifically described as follows: That part of the First Supplemental Map for Simba Run Condominium, according to the map thereof recorded in the office of the Eagle County, Colorado, Clerk and Recorder, described as follows: Beginning at the most southwesterly corner of said map, thence the following three courses along the westerly lines of said map; 1) N03°33'01"E 160.79 feet; 2) N12°50'33"E 144.72 feet; 3) N17°56'03" 70.60 feet; thence, departing said westerly line, S13°16'03"W 157.26 feet, thence S76°43'57"E 91.50 feet; thence N13°16'03"E 35.00 feet; thence S76°43'57"E 72.31 feet to the easterly line of said map; thence the following two courses along the easterly and southeasterly lines of said map; 1) S24°44'57"E 52.38 feet; 2) S52°50'29"W 272.50 feet to the Point of Beginning, containing 0.6134 acres, more or less; and That part of Simba Run, according to the map thereof, recorded in Book 312 at Page 763 in the Office of the Eagle County, Colorado, Clerk and Recorder, described as follows: Beginning at the most southerly corner of said Simba Run, thence the following four courses along the southwesterly and northwesterly lines of said Simba Run; 1) N37°09'31"W 233.28 feet; 2) 334.57 feet along the arc of a curve to the left, having a radius of 1771.95 feet, a central angle of 10°49'06", and a chord that bears N42°13'20"E 334.07 feet; 3) N36°48'48" E 201.36 feet; 4) 15.96 feet along the arc of a curve to the right, having a radius of 428.02 feet, a central angle of 02°08'12", and a chord that bears N37°52'54" E 15.96 feet to a corner on the westerly boundary of the First Supplemental Map for Simba Run Condominium, according to the map thereof recorded in the office of the Eagle County, Colorado, Clerk and Recorder; thence the following four courses along said westerly boundary; 1) S21 °51'28"W 69.90 feet; 2) S17°56'03"W 181.17 feet; 3) S12°50'33"W 144.72 feet; 4) S03°33'01"W 160.79 feet to the southeasterly line of said Simba Run; thence, along said southeasterly line, S52°50'29"W 113.08 feet to the Point of Beginning, containing 1.560 acres, more or less. Applicant: Simba Land Corporation/Walid Said Planner: Mike Mollica 1 f 1 t Public Hearing 2:00 PM d 1. A request to review a referral from the US Forest Service to review a scoping proposal regarding the installation of a cellular telephone site in East Vail. Applicant: US West/Celiular One/US Forest Service Planner: Andy Knudtsen 2. A request for a joint work session with the Design Review Board and the Planning and Environmental Commission to review a request for a conditional use, a paving variance to allow for a gravel access road and the cemetery master plan and management plan for the proposed design of the Vail Cemetery to be located in the upper bench of Donovan Park generally located west of the Glen Lyon subdivision and southeast of the Matterhorn neighborhood. Applicant: Town of Vail Planner: Andy Knudtsen 3. A request for setback and site coverage variances to allow for the construction of an addition and a garage located at 2409 Chamonix Road/Lot 19, Block A, Vail des Schone Filing No. 1. Applicant: Anneliese Taylor Planner: Shelly Mello 4. A request for a conditional use to allow furniture sales at the Cascade Crossing Building located at 1031 South Frontage Road West/an unplatted parcel located west of the Vail Associates maintenance shop. Applicant: Paul Anderson Collection, Ltd. Planner: Andy Knudtsen 5. A request for a landscape variance to allow for the reconstruction of the parking area at the First Bank/17 Vail Road/Lot 6, Vail Village 2nd Filing. Applicant: First Bank of Vail Planner: Andy Knudtsen 6. A request for a minor subdivision for Cascade Village, SDD #4, Area A, Millrace I11, 1335 Westhaven Drive, Cascade Village, more specifically described as follows: A part of the SW NE Y,, Section 12, Township 5 South, Range 81 West of the 6th P.M., described as follows: Beginning at a point of the North-South centerline of said Section 12 whence an iron pin with a plastic cap marking the center of said Section 12 bears S00°38'56"W 455.06 feet; thence along saitl centerline N00°38'56"E 122.81 feet to the southerly ROW line of I-70; thence departing said ROW line N66°53'25"E 39.15 feet; thence departing said ROW line S81°23'19"E 165.42 feet to a point of curve; thence 122.83 feet along the arc of a 143.20 fool radius curve to the left, having a central angle of 49°08'51" and a chord that bears S15°57'45"E 119.10 feet; thence S40`32'10"E 3.00 feet; thence 66.30 feet along the arc of a 77.21 foot radius curve to the right, having a central angle of 49°12'10" and a chord that bears S15°56'05"E 64.28 feet; thence S8°40'00"W 90.27 feel; thence N38°42'24"W 224.55 feet; thence S78°10'32"W 101 44 feet to the Point of Beginning. 2 t~ y Applicant: Michael Lauterbach Planner: Jim Curnutte 7. An appeal of a staff interpretation to not allow a cantilevered portion of a building into an area exceeding 40% slope. Applicant: Michael Lauterbach/The Reinforced Earth Co. Planner: Shelly Mello 8. A request for wall height variances to allow for the construction of a driveway to the residence located at 2346 Cortina Lane/Lot 4, Block A, Vail Ridge. Applicant: Arno Brinkman Planner: Tim Devlin 9. A request for a minor amendment to SDD #4, Cascade Village for the Waterford parcels in area A, described as follows: That part of the SW 1/4 NE 1/4, Section 12, Township 5 South, Range 81 Wesl of the Sixth Principal Meridian, Town of Vail, Eagle County, Colorado, described as follows: Beginning at a point on the southerly right-of-way line of Interstate Highway No. 70 whence an iron pin with a plastic cap marking the center of said Section 12 bears S 33°10'19" W 1447.03 feet; thence along said southerly right-of-way line two courses 1) N 52°50'29" E 229.66 feet 2) N 74°38'1 7" E 160.70 feet; thence departing said southerly right-of-way line N 88`45'ST' E 138.93 feet; thence S 40`45'14" W 94.32 feet; thence S 18° 18'36" W 54.08 feet; thence S 01°21'36" W 205.02 leer: thence S 12°07'36" W 110.25 feet; thence S 28°28'36" W 164.48 feet; thence N 40 `17'04" W 211.16 feet; thence N 49°42'56" E 97.60 feet; thence N 37°09'31" W 95.59 feet; thence S 52°50'29" W 55.10 feet; thence 69.48 feet along the arc of anon-tangent curve to the left having a radius of 65.00 lest, a central angle of 61°14'42" and a chord that bears N 58° 55'53" W 66.22 feet; thence N 37"09'31" W 118.50 feet To The True Point of Beginning, County of Eagle, State of Colorado; Applicant: MECM Enterprises represented by Eustaquio Cortina and Commercial Federal Savings. Planner: Shelly Mello 10. A request for a work session for a minor subdivision to vacate the lot line between Lots A-1 and A-2, a request for variances from the subdivision road standards, wall height standards and to allow parking in the front setback located at Lots A-1 and A-2, Block A, Lions Ridge Subdivision Filing No. 1/1139 and 1109 Sandstone Drive. Applicant: Michael Lauterbach~fhe Reinforced Earth Co. Planner: Shelly Mello TABLED UNTIL MAY 24, 1993 11. A request for a front setback variance, a wall height variance and a site coverage variance to allow the construction of a garage located at Lot 26, Block 7, Vail Village 1st Filing/165 Forest Road. Applicant: Paul Raether Planner: Jim Curnutte TABLED UNTIL MAY 24, 1993 3 s ~t 12. A request for a conditional use to allow tee-pees to be used in conjunction with Vail Associates summer programs to be located adjacent to the Base of Chair 8, Tracts B and D, Lionshead 1st Filing. Applicant: Vail Associates Planner: Jim Curnutte TABLED UNTIL MAY 24, 1993 13. Approve Minutes from April 26, 1993 PEC Meeting. 4 DESIGN REVIEW BOARD AGENDA May 5, 1993 3:00 P.M. PROJECT ORIENTATION 11:45 A.M. - 12:30 P.M. SITE VISITS 12:30 P.M. - 3:00 P.M. 1. Simba Run - 1100 N. Frontage Road. 2. Grand Traverse - 1424 Moraine Drive. 3. Connors - 2427 Garmisch Drive. 4. Bernhardt - 2695 S. Frontage Road. 5. Waterford -the corner of Westhaven Drive and South Frontage Road in Cascade Village. 6. Town of Vail bike path bridge rail for.sewer plant bridge 7. Erickson - 716 Forest Road. 8. Pease - 3548 Beaver Dam. 9. Garton's Saloon - 143 E. Meadow Drive. 10. Stout - 4030 Bighorn Road. 11. Village on Bighorn - 4222 Bighorn Road. Drivers: Andy and Jim AGENDA 3:00 P.M. 1. Regal -Two new single family residences. JC Lot A3, Block A, Lionsridge Filing 1 /1079 Sandstone Drive. Applicant: Walter Regal MOTION: Arnett SECOND: Williams VOTE: 4-0 Tabled to May 19, 1993. 2. Grand Traverse -New single family residence. JC Lot 12, Dauphanais-Moseley/1424 Moraine Drive. Applicant: Dauphinais -Moseley Construction MOTION: Brainerd SECOND: Arnett VOTE: 4-0 Consent approved with conditions. 3. Simba Run -Repaint buildings. JC 1100 N Frontage Road. Applicant: Don Hancock MOTION: Brainerd SECOND: Arnett VOTE: 4-0 Tabled. r, 4. Millrace III -Conceptual review of (1) duplex and (1) single family JC residence. West of Millrace II and east of tennis courts, north of Cofdstream/ 1335 Westhaven Drive. Applicant: Mike Lauterbach MOTION: Arnett SECOND: Brainerd VOTE: 4-0 Tabled. 5. Connors -Conceptual review of new duplex. JC Lot 13, Block H, Vail Das Schone Filing 2/2427 Garmisch Drive. Applicant: T.J. Connors/David Irwin MOTION: SECOND: VOTE: Conceptual review. 6. Village Parking Structure -Details on planting pots. TO Block 5D, Vail Village 1 st/241 S. Frontage Road. Applicant: Town of Vail MOTION: Arnett SECOND: Williams VOTE: 4-0 Approved as submitted. 7. Gore Creek Plaza Building -Deck railings. SM Block 5B, Vail Village 1 st/193 Gore Creek Drive. Applicant: Gore Creek Plaza Building MOTION: Brainerd SECOND: Arnett VOTE: 4-0 Consent approved. 8. Erickson - 250 Gross Residential Floor Area addition. TD/SM Lot 10, Block 1, Vail Village 6th Filing/716 Forest Road Applicant: Mr. and Mrs. Erickson MOTION: Arnett SECOND: Brainerd VOTE: 4-0 Approved. 9. Village on Bighorn -Change to approved plans for Unit No.5. SM/MM Lot 1, Block 7, Bighorn 3rd/4222 Bighorn Road. Applicant: David Schermerhorn/Bighorn Development Ltd. MOTION: Arnett SECOND: Williams VOTE: 4-0 Tabled to May 19, 1993. 2 10. Sonnenal Bavaria Haus -Modifications to landsca a islands. AK P( ) p Part of Lots I&K, Block 5E, Vail Village 1st Filing/20 Vail Road. Applicant: Johannes Faessler MOTION: Brainerd SECOND: Arnett VOTE: 4-0 Tabled. 11. Garton's Saloon -Outdoor ranchyard corral. TD/AK Crossroads Shopping Center/143 E Meadow Drive. Applicant: Garton Development/Dave Garton MOTION: Arnett SECOND: Williams VOTE: 4-0 Approved with conditions. 12. Bernhardt -New Primary/Secondary residence. AK Parcel C, Stephens Subdivision/2695 S Frontage Road. Applicant: Chas Bernhardt MOTION: SECOND: VOTE: Conceptual review. 13. Stout -Addition. SM Lot 1, Bighorn Subdivision/4030 Bighorn Road. Applicant: Dave Stout MOTION: Arnett SECOND: Brainerd VOTE: 4-0 Approved with condition. 14. Pease - 250 Gross Residential Floor Area addition. SM Lot 5, Block 2, Vail Village 3rd/3546 Beaver Dam. Applicant: Dave Pease MOTION: Arnett SECOND: Brainerd VOTE: 4-0 Approved with conditions. 15. Waterford - (Conceptual) Multi-family development. SM Generally located at the corner of Westhaven Drive and the South Frontage Road in Cascade Village. Applicant: MECM Enterprises MOTION: SECOND: VOTE: Conceptual. 3 16. De Vaney - Reroof. AK Lot 2, Block F, Vail das Schone Filing 1/2565 Cortina Lane. Applicant: Mr. De Vaney MOTION: SECOND: VOTE: Tabled to May 19, 1993 17. Bolden II -New duplex. AK Lot 14, Block 9, Bighorn 3rd/4223 Spruce Way. Applicant: William Bolden MOTION: Arnett SECOND: Brainerd VOTE: 4-0 Approved with conditions. 18. Gonzales - 250 Gross Residential Floor Area addition. AK Lot 1, Warren Pulis/1628 Vail Valley Drive. Applicant: Pilar Gonzales MOTION: Arnett SECOND: Brainerd VOTE: 4-0 Approved with conditions. 19. Hall -Revisions to approved plan, restricted second unit. SM Lot 3, Block B, Vail Ridge/2612 Cortina Lane. Applicant: Greg and Michelle Hall MOTION: Arnett SECOND: Williams VOTE: 4-0 Approved as submitted. 20. Town of Vail -Bike path bridge rail for sewer plant bridge. SM Located south of Upper Eagle Valley Water and Sanitation District Facility. Applicant: Town of Vail MOTION: SECOND: VOTE: Tabled. 21. Town of Vail -Recreation path destination signs. SM Applicant: Town of Vail MOTION: Arnett SECOND: Brainerd VOTE: 4-0 Approved as submitted. MEMBERS PRESENT MEMBERS ABSENT Mike Arnett Bob Borne Dalton Williams Sally Brainerd George Lamb 4 Staff Approvals Villa Valhalla -Exterior repaint. JC Lot J, Block 5, Vail Village 1 st/360 Gore Creek Drive. Applicant: Villa Valhalla Homeowners Association. Goldfarb/Romano -Exterior color change. SM Lot 25, Block 1, Potato Patch. Applicant: Summit Habitats. Dunning -Change windows. AK Lot 7, Glen Lyon/1461 Greenhill Court Applicant: Peter Dunning The Aspen Grove -Expand deck at entry. AK Lot 2 & 4, The Ridge/1455A Ridge Lane. Applicant: Jack Snow Laycob -Deck expansion and hot tub. JC Lot 1, Block 6, Bighorn 5th/4828 Meadow Drive. Applicant: Lawrence Laycob Peterson -Repaint house. AK Lot 47, Vail Village West Filing 1/1876 W. Gore Creek Drive. Applicant: Lynn Peterson Ansfield -Deck enclosure. JC Lot 1, Block 2, Vail Village 12/3094 Booth Falls Rd., Unit #4. Applicant: Linda Ansfield 5 SENT BY ~ EAGLE COUNTY ; S- 6-93 1131 ; 3033287207 3034792157 ; # 1 / 3 May 6, 1993 - 8:07 • CAC,Lt'. COUNTY MtALDING • 55t AR01tDWAr Qft1CF OF THt "fi^ P.O. AdK 850 t30Af~ OF COINMISSKINERS CAGCE, COl;ORA{)() 81 tii f (ao3~ 32e-x605 ~ ' ; FAX: (d03~ 31$•7107 ~ EAGLE COUNTY, COLORAdO AG~NQA ~C)AR~ C~l~ ~UUINIT~' +~t~,MMIS~lDNEJ4 REGULAR MEE7`ING DA Y MAY 7 7, 19.3 09:U0 - 70:15 WORK 3ESSIpN - iNEEKLY UPDATE ItTt orarre rlar~ Cross RooAi Jack D, Lewis, County Manager 10: 7?5 - 1 U:45 BREAK 10:45 - 7 ~:3'0 WOFtJC SESS![1N - PENt?ING 1IT/CA7'ION Me of my Holy Crosa Rnwn James R. Fritze, County A ttorney r 7: 3a - a 75 cuNClf ~aoaY 07:15 - 47:30 WORK $ESSIQN - EABt Y !EARNING CENTER ~ or ~ coal Room Kevin Matta vish OT:30 - a r:45 WORK SESSION - MEE'T!/1/GS A ~ ~~rNDED Mr aF ~ ~Y cage Aaom O i:4B - 02: DO COIV$ENT CALENpAR yak carmrY t~ l7FMs OFA ADUTJNE AND NON•CaNTitpVCRS/AL NgT'(/RE A/rE PLgCEi1 (Jly THE CONSENT CALENDAR TO ALLOW TyE HOARD OP CUtlNTY COMMISSIONERS TO SPEND IlS TIME AND ENC'RGY CN MORE !Mf'~pRTANT rIfMS ON A LENGTHY AGf1VLlA. ANY COMAAlSS70NERMAYRE[2UES% I!lATAN/TEM6E RFjNOVLD'FROMTHECONSENTC1ILENDARANDCONStDERE'OSEPARATELY. ,41YY ML7llBER OF THE PUBl1C MAY 'REQUEST" ANY 171FM AF. RFMOVE,C~- FROM THE CONSENT AGENDA. 1. BILL PAYING Linda Pankuch, Accounting Mark Silverihorn, Acting Controller ACTlON.• Approval subject to review,by tha County Manager. SENT BY ~ EAGLE COUNTY 5- 6-93 1132 3033267207-~ 3034792157; # 2/ 3 2. AGREEMENT BETWEEN EAGLE COUNTY, STATE OF GOLpRADfJ AND U. S WEST Cp119M(INICATIQN AND SERVlGE, 1NC FpR PUBLIC SAFETY PRpDUCT SALES INSTAtLATION ANl3 MAINTENANCE A, J. Johnson, Sheriff ACTION: Consider approval. 02:00 - 03:00 BDARD OF SOCIAL SERVICES ~ CounryRoon Kathleen Forinash, Director of Social Services 03:00 - 03: r5 BREAK 03:75 - 03:45 WQRK SESS/01V - COLORAQO NATLIRAt HAZARDS M!T/GAT10N C't7UNC/L Mr of ~ Bab Kintner 43:45 - 04:00 WORK SESS10/V - EAGLE VALLEY HOME BUILDERS ,u~ o+~ a~ c~ x~ ASSOCIATION Rob Haney, President EVHBA 04:00 - 05:00 WQRlf SES,+SION -ELECTIONS. AMENDIUIEIVT ONE, AND Mi of fhe Ha/y Cmss Room Llu~/Q~ LICENSING Sara Fisher, Clerk and Retarder Mary Ja ~'erenata, Assistant County Attorney TNENEXTMEETINOOFTHEFAOLECOflNTYCOMMASSION~R3W/((UEHELUON149AY18, 1993 Yl /!S AGENDA /S PROY/DED FOR IAfFORMATlONAL M1RPpSES tlNLY • A1117n?~S AREAPPROX/MATE THEBOARD WH/!E /N ^,~,,S/ON A~4AY GON51ULrR O tfl[R !TENS THAT ARE BROUGHT BEFORE fT PAGE 2 SENT BY ~ EAGLE COUNTY 5- 6-93 1132 ; 3033287207-' 3034792157; # 3/ 3 May 6, 1993 - ~ os - . . ' ~ EAGLE COLUITY HLIILDING 551 BROADWAY OFFICE OF THE r,0, BOX 850 BOARD OF COMIWSSIONERS . , , 4 F.A(il.t. CdLORf1D0 8163 I {303) j78-8605 ~ ~ , , FAK (303) 3]8.7~0J ~~~i i ~I~il ~4•-• Es~4~LE CaUNTY, ca~or~?~a AGENDA BC~ARL~ CAF CC) UN'T Y ~OMMIS,SI ~NER,S REGULAR MEETING DA Y MAY 18, 19~~ 09:00 -x9:30 VIIt71~K SESSION -VACATION OF A R1GHT-OF W~IY IN 1?!t Ot tAe yoly Croae Room HOMESTifALa FILING 1, PROVISION OF AN EMERf~ENCY ACCESS EASEMENT Phil! Scott, Engineer 09:30 - r0: ~5 zS-333 93-EAGLER1vER~nt?BILEHt~MEPARK, SATE'LL17E ~ ~:y Room AISIYES AND TOWER INSTALLA 7"lON Paul Clarkson, Planner, Community Develaprtrent ACTION: Consider approval. 03:00 -05.-00 MEETIN4 WITH THE MEDIA FROM THLr A'OARING FORK eeeeR ra?rn Hell VALLEY 0?:00 - 09:OD PUBLIC MEETING ~ CDOT, HIGHWAY $2 PROJEpT seselr rnwn tlen UPDATiE, ANO OPEN DI$GUSSION THE NEXT MEtr11VG Or TIIE EAGLE CQuNTY CQMMISSJONERS WSL BF HELD ON MAY 2~1 19D3 TNI3 AO&VGGq 1.4 HRQV/J)ED FQR INFQRMATIONAL PJ/RPOSES ONLY -ALL TIMES ARE APPROX'1hlATF: THEBOARD WH2E dY SESSION MAY CUNSIOL'R U fllUf I1LMS JNA I ARt NItULIIJIfT fJEFU1u: Jf PACE r C:\VCCIASE.MEM ' ~L'. p VAIL VALLEY PERFORMANCE & CONr~>t;RENCE C"EN'i'1~~ May 5, 1993 Ms. Peggy Osterfoss Mayor Town of Vail 75 South Frontage Road Vail, CO 81657 Dear Ms. Osterfoss, I would Like to update you on the progress that has been made over the winter on the proposed Vail Valley Performance & Conference Center. Several committees of community members have been refining finance, design and programming for the proposed facility since the well attended community forums that were held in October and November. Throughout this process many good ideas have been received and incorporated into the current plans for the project. To some the process seems slow; but the Steering Committee has always believed that a thorough investigative process is crucial to accurately evaluating every aspect of the project's feasibility. This process is not over. If at any time our research shows that this Performance & Conference Center isn't viable we'll "pull the plug" and move on to other endeavors. I have joined the Project as full time Coordinator. It is my role to be the facilitator of information within the community as well as between the different committees involved in the process. Cliff Gardiner, co-chairman of the Steering Committee and president of Gardiner Broadcast Partners (KZYR) is also dedicated to this project. Both of us are available to address your questions privately at any time. Throughout the next few months, I hope to meet with as many interested individuals and interest groups as possible. Within this process, I hope to encourage feedback from a variety of organizations concerned with the status of the project. Ongoing communication and community involvement is critical to the process of building a broad based consensus among residents, merchants and organizations throughout the Vail Valley. I appreciate your personal involvement in this process. If you have any questions, please don`t hesitate to call me at 845-9601. I encourage you to join us next Thursday evening at 7:00 PM at the Library for an important update on the ongoing activity concerning the Vail Valley Performance & Conference Center. Sincerely, aroline Trembla ~ W y Project Coordinator ~ ' BOX 5559 AVON, CO 81620 (303) 845-9601 FAX 949-0266 .~.'v,...-a.......~~___.__~_:.~~.._._.~.y~.un..~a...rar.:-s~YtAe•M14]^~...~.`._ `~...~.....JSYti~i' VAIL VALLEY PERFORMANCE & CONFERENCE CENTER THURSDAY EVENING MAY 13, 1993 7:00 - 8:OO PM VAIL PUBLIC LIBRARY RSVP by Wednesday, May12, 1993 to Caroline Tremblay.at 845-9601 x e : Caws-c;~,e. EARLY LEARN/NG CENTER PROJECT "Creatinfl Community Connections" c% Vail Vaitey Foundation PO Box 309 Vail, CO 81658 303 476-9500 April 30, 1993 To: Site Organizing Committee From: Revin Mactavish Re: DRAFT Minutes 1. The meeting was held at the Vail Valley Foundation offices on 4/29/93, 1:00 PM. Those in attendance included Peg Portscheller, Lissa Mackintosh, Deb Comerford, James Johnson, Colleen Gray, Elaine Kelton, Karen Harvey, Ivan Kershner, Cherie Paller, Tsu Wolin-Brown, and Kevin Mactavish 2. Kevin distributed the following materials far reference and use by those present: Proposed Agenda "Family Support Programs and Comprehensive Collaborative Services" Biographical Sketch for Kevin Mactavish grass roots diagram Project Description, 1.0 Organizational Chart Expectations for Administrator Summary Action Plan Gypsum Center 3. Lissa provided a brief history on where we've come from to this point--launching the Early Learning Center Project. She addressed the membership of this committee and its goals and objectives. She reviewed the organization structure and the parallel, complementary relationship between this project and the Eagle Valley Family Center. Kevin suggested using the name Early Learning Center Project to distinguish this activity from the Eagle Valley Family Center. 4. The committee reviewed the logos submitted by Eagle Valley High School students in response to the competition highlighting the theme "creating community connections." The Committee commended all entries and suggested that some be retained for possible use for T-shirts and the like. The entry by Mike Willey was selected as the logo for the project. Kevin will inform him and his teacher of the selection and request a slight modification of the design per the Committee's request. 5. Kevin noted that WF letterhead will be used to support and enhance the project. Where it would be "more politic" to use project-specific letterhead with this logo, such would be the 1 case. 6. Lissa reviewed the action plan and suggested the formation of working committees to research and recommend action by the Site Organizing Committee. The following committees were identified and names of those who would (or would be asked to) serve: CDBG/Site-Capital: FIRST MEETING MAY 7, 2 pm, EVHS Jack Berga Eagle Co. Gov. Rep. (approach Jack Lewis, etc.) Dan Lister Ivan Kershner Kathleen Forinash School Dist. Rep< (PegJMel) Deb Comerford Lissa Mackintosh Diane Paradis Community Relations: FIRST MEETING TO BE ANNOUNCED Padres Unidos Rep. Deb Baldwin Janet Rivera Gypsum Religious Org. Rep. (Jeff Hansen?) James Johnson Fund-Raisins: MEETING TO BE ANNOUNCED WF Rep . Elaine Kelton Rod Slifer Debbie Mayne Program Development: FIRST MEETING MAY 12, 2 pm, EES Karen Harvey Deb Keterling Tsu Wollin-Brown Lori Haugland Susan Frampton Nancy Nottingham Sharon Thompson 8. Kevin asked that the committee review Expectations for Administrator. He said that already "the messiah syndrome" was evident and wished to help moderate expectations about what he could do with and for this project as well as related activities. THE NEXT MEETING OF THE SITE ORGANIZING COMMITTEE IS MAY 20, 1 PM, VAIL VALLEY FOUNDATION OFFICES. Thinks . 2 Intermountain ~ _ Transportation Planning Region Background The legislation establishing the Colorado Department of the R P C s and the Colorado Department o f Transportation mandated the development of a fiscally Transportation that would improve modal choice and balanced statewide multi-modal transportation plan. In linkage between modes. December 1991, Congress enacted the Intermodal Surface Transportation Efficiency Act referred'to-as ~ The tentative schedule for development of the regional ISTEA ("ICE TEA") legislation also mandated the transportation plans is to have a draft plan completed development of a statewide multi-modal transportation by November 1993 and the final plan by May 1994. plan. The national legislation required the statewide transportation plan be developed by January 1, 1995. One of the major components of the rules and It did not require a specific process for developing this regulations is public participation. The rules and plan. However, the state legislation did mandate an regulations require, as a minimum, the public approach which required the statewide plan be based involvement program: (1) maintain a mailing list of on regional transportation plans. The state legislation all interested parties; (2) provide reasonable notice and also required that the statewide transportation planning opportunity regarding transportation-related activities and process be established through the rules and regulations .meetings; and (3) hold at least one public meeting at process. the beginning of the regional transportation plan development process and on the draft regional In September 1992, the Department completed the transportation plan. development of statewide planning rules and regulations with the formal adoption by the Colorado Transportation Commission. These rules and public Involvement regulations subdivided the state into fifteen transportation planning regions (TPRs). One of these regions is referred to as the Intermountain The Intermountain Regional Planning Process has Transportation Planning Region which consists of the adopted a public involvement program to guide how counties of Lake, Summit, Eagle, Garfield, and Pitkin. the public will be involved in the development of the In addition, the rules and regulations also address the Intermountain Regional Transportation Plan. That formation of Regional Planning Commission (RPC) in program is described below. order to develop the regional transportation plan. If an RPC is not created, the responsibility defaults to the Newsletter Colorado Department of Transportation. In the Intermountain Transportation Planning Region, there is A newsletter will be periodicially sent to those agreement by most of the units of local government to individuals and organizations interested in monitoring .form an RPC. That process is currently underway. the Intermountain regional transportation plan development process. It will provide draft and final The state enabling legislation also required the material as it is developed and approved by the RPC establishment of a Transportation Advisory Committee and identify any upcoming meetings that may be of (TAC). The TAC is made up of one representative interest to the citizenry in the region. from each of the fifteen transportation planning . regions. The TAC is responsible for reviewing the Formal Public Meetings progress of each regional transportation plan, review and provide recommendations to the Colorado There will be three formal public meetings held Department of Transportation meet the requirements throughout this process: the first would be at the contained 'in the rules and regulations, assist in beginning of the process to discuss the vision, issues, resolving conflicts between regions, making values, and goals; the second would be after the recommendations to the Colorado Department of completion of the alternatives analysis; and the last Transportation concerning the intergration and would be the after the draft regional transportation plan consolidation of the regional plans, provide advise on is developed. These meetings would be announced mobility requirements, and make recommendations to through the newsletter and in the various local newspapers two weeks prior to the meeting and again one week prior to the meeting. There will be an open house at each of these locations starting at 10:00 am and running through 5:00 pm. Public Outreach Program The formal public meeting will begin at 7:00 pm and is scheduled to end at 10:00 pm. The date, city, and Representatives of the RPC would meet with those location are as follows: groups or organizations to identify the issues they believe are important as well as possible solutions. May 18, 1993, Tuesday Frisco Public Workshops Frisco Community Center 110 So. 3rd. Avenue The RPC would have some informal public workshaps where the public could work along side the staff of May 19, 1993, Wednesday the RPC on specific activities. The tentative Vail workshops are during the development of the Town of Vail Library socioeconomic and environmental profile, identification 292 W. Meadow Dr. of alternatives, alternative analysis, development of the draft regional transportation plan, and the staging of May 20, 1993, Thursday the plan. ~ ~ Leadville National Mining Hall Museum RPC Meetings 17 W. 10th This newsletter will be used to inform the public of May 26, 1993, Wednesday the regularly scheduled meetings of the RPC. Aspen However, since this newsletter will only be produced The Inn at Aspen once a month, it may not be possible to cover all the meetings. Therefore, if you want to know of any May 27, 1993, Thursday upcoming meetings, please call the Colorado Glenwood Springs Garfield County Commissioner's Office, 3rd Floor Fo~~~~al Public Meetings . Public Comments The Intermountain Regional Planning Commission is scheduling a series of public meetings to discuss the If you have any comments or ideas you would like to vision, issues, values, and goals that will be used to share with the Intermountain Regional Planning guide the development of the regional transportation Commission, please contact the Colorado Department of plan. In addition, a preliminary identification of Transportation care of Dave Ruble at the return address transportation needs is being developed based on each listed below. agency's perception. This should also be available. Finally, a description of the condition of the existing transportation system is just being initiated. Some of this information may also be available at the public meetings. ~ v..,....,~ _ _ Colorado Department of Transportation ~ - - ~ Y 4201 E. Arkansas Room 212 ; , _ Denver, Colorado 80222 ' Y, C: ~-~lw~~``~~~"""- Mayor of Vail ~9t~,~. W~a-tz-+'~ 75 S . Frontage Road . (9. Vail, CO 81657 RECEEVE~J MAY t 0 1993 Q ~ ~e'~ ~~c~d~e ~l~s~-cl~ AMENDMENT 1 & THE GALLAGHER AMENDMENT: X ~ , COMBINING TO CREATE ~ ~ ~6' A~fc~~~'Al FINANI'~P~~ "REVENUE HAVE NOT" GOVERNMENTS Financial Policy Bricf #2 When Colorado voters went to the polls in November 1992 Of course, nonresidential property owners have picked up and voted in favor of Amendment 1, or the Taxpayers Bill the tab. Even as the shift in the property tax burden to non- of Rights (TABOR), few realized that their vote would residential property owners was occurring, the tax revolt in reopen a debate that many believed was settled ten years Colorado continued to pick up steam. earlier. In 1982 Coloradans voted in favor of another ballot initiative also known as Amendment 1 that reformed the The basic intent of the 1992 Amendment l (TABOR) was state's property tax system. The language on that ballot to limit state and local spending and revenue increases to initiative is now a part of Article X Section 3 of the state inflation plus economic growth factors. It was this some- constitution. One of the more prominent provisions of the what simple concept that voters found very appealing. 1982 Amendment 1 is known as the Gallagher Amendment. However, many provisions in Amendment 1 were not ade- quately debated. The negative impact on the revenue The two Amendment 1's, however, will combine to stream of many governments due to the interaction of the . hamstring many local government's ability to raise, fixed property tax rate (the mill levy) provision of the 1992 sufficient revenue to pay for the higher costs of government . Amendment I, and the complex Gallagher mechanism that due to inflation and the influx of new residents into the is part of the 1982 Amendment 1, has only recently been state. Local governments whose tax base is /riglrly discovered. Many counties and school districts are finding dependent ore property tax revenue especially Counties that the combination of the two Amendment ]'s are making acrd School Districts will be affected most by the the claim made by TABOR proponents, that "government is combined impact of the two Amendment 1's , allowed to increase every year", ring hollow. (See a 10/14/92 Denver Post story by Jeffrey Roberts where THE INTENT OF THE TWO AMENDMENT I's Amendment 1's author made this claim.) Leading up to 1982, the share of residential property as- For "Revenue Have Nots" revenue growth simply will Trot sessed value as a percentage of total statewide assessed keep pace with a goverr:ment's inflation adjusted spending value had been steadily creeping upward. The intent of the /irnit t/rat is also part of Amendment 1. The ability of Gallagher Amendment provision in the 1982 Amendment 1 governments to adjust the property tax rate (the mill levy) was to stabilize the share of residential assessed value in the to generate the revenue needed to pay for the higher cost of total statewide property tax base at approximately 4~%. By government services was eliminated with the passage of stabilizing the share of residential assessed value at 45% the 1992's Amendment 1. share of property tax revenue collected from residential property owners was also stabilized. (The mechanics REVENUE HAVE NOTS IN 1994 involved in maintaining the 45% residential share are somewhat complex and are illustrated in an example at the In order to comply with the Gallagher Amendment provi- end of this paper.) sions of the 1982 Amendment 1, each reassessment year the legislature must establish an assessment rate for residential In essence, since 1983 about 45% of property tax revenue property that will be used by taxing entities statewide. The each year has been collected from residential property Division of Property Taxation has estimated the rate for the owners in Colorado. However, by fixing the residential 1994 tax year to be 12.86%, down from the current share of property tax revenue collections at 45%, the tax 14.34%. Preliminary assessed value information for each burden has been shifted to all nonresidential property county and school district has also been estimated by the owners in the state. In 1991 the tax bill of residential Division using 12.86%.~ Their estimates indicate that 36 out property owners in Colorado was more than $223 million of 63 counties, and 100 out of 176 school districts in the lower than it would have been had the original Gallagher state suffer declines in assessed value in 1994. The average provisions (which assessed residential property at a 21% county decline will be -.47% and the average school district rate) remained unchanged since 1983. From 1987 through decline will be slightly higher at -.54°,%. These projected 1991, the cumulative reduction was almost $750 million. declines are due solely to the Gallagher effect. for governments that rely on property tax 1/3 OF COLORADO SCHOOL DISTRICTS IN 1994 revenue. Prior to the passage of TABOR WILL LOSE 2.5% OR MORE IN ASSESSED i/ALUE local governments could mitigate the Gallagher effect by raising the mill levy Counties Schools each year to generate additional property z° . z°, - - - tax revenue up a 5.5% statutory limit. ~ rn This will no longer be possible unless •j ,5 X15 I voters approve a mill levy increase. v to Unless voters approve a mill levy in- o'° o'°~ crease, a decline in assessed value will equal a decline in property tax revenue. 5 ~ ~ 5 The irony of this situation is that prop- erty tax revenue can decline even as resi- ° ® dential property values are increasing. ego h h ~ O 1 y h ,~O a~. h 1 O 1 h h 10 ~o ~00`p to :Ly~p 1t0 OHO ` 2'y~0 ~ x.~0 Opp O;L~ ~ ,~~0 OHO O '~~O p x1CY ~ ti' y`~ 5` ti~ ti' WHAT'S A GOVERNMENT TO DO? Percent Decline in Assessed Value Percent Decline in Assessed Value Source: Colorado Division of Property Taxation. The odds of substantial changes to the Gallagher Amendment are slim since a The distribution of changes in assessed value for counties large segment of the Colorado population benefits from its and schools are portrayed in the chart above. Areas that provisions. One long-term solution to what will be a bare hi;lr propnrtion.c of residentia/ assessed value as a chronic problem for "Revenue Have Not" governments percent of t/reir total property tax base could leave large (those with revenues that fall short of allowed TABOR assessed value declines if t/te average increase in actual spending) is a change in tax structure to one that places residential values does not keep pace with the decline in increased reliance on revenue sources that truly grow as the the residential assessment ratio. For example, as the state- economy grows. Until "Revenue Have Not" government's wide residential assessment ratio declines from 14.34% to switch to a revenue base that keeps pace with TABOR 12.86%, a school district or county must experience an growth factors, constraining spending growth will be the average 11.5% increase in actual residential values (all else only and often unpleasant budget option available to them. remaining equal) in order for total assessed value, and therefore revenue, to remain unchanged. Rudy Andras Fixed Income Research (Denver) May 5, 1993 The chart above also illustrates the fact that the Gallagher effect will be a bigger HOW:DOES THE GALLAGHER AMENDMENT WORK? problem for school districts. Almost one - third of the school districts in the state are Base Yeae:.Vahies`Are Given Year 2 Assumnttons:, onresidential Actrinl Values UneJran d expected to have an assessed value decline ' : N In ge 10% Residential Values crease, by that exceeds -2.5%, while about one-fourth of the counties will have an assessed value BaseYeas , .Year 2 decline that exceeds -2.5%. ' ResidenuatActtial $697;30 Residential Actual '$767;085 Nont'esidenfial:Ac4ual $421;45;5 Noriresidential Actual $427,45 THE NEW REALITY: DECLINES IN Restdeiittal Assessed $T00,000. Residential Assessed $1.00;000 ASSESSED VALUE WILL RESULT IN Nonr•esidential:Assessed fi122.222. Noriresideiitial Assessed $722:222 ~ DECLINES IN PROPERTY TAX Total Assessed . ' $2.._,_22 Total Assessed $222;222 REVENUE " Residential Assessed - Actual;x 14.34% ~~Residential Assessed = .Actual x Nonresidenttal Assessed: = Actual.x 29% The Gallagher effect is not a new problem Note:. Since nonresidential value has not Since residential property owners have Note; Restdenhal>assessed'is 45% of:aota( changed acid musC6e assessed at a 29% benefited from the Gallagher effect, it iS assessed valve and nonresidential assess- rate; nonresidentiaL'assessed:value will be doubtful that they would even consider it a ment rate fixed at::29% as per Gallagher unchanged:at.$122;22Z andaotal assessed value wtll be unchanged at $222;222 .In problem. The fixed mill levy provisions of ordi:nfo maintain residential assessed value TABOR Combined with the Gallagher at 45%:of ttieaotaV,the restdenGal`:assegsmetit' effect, however, creates a new problem : ratio abtivej'must.decline to::1304% I Nezt: Elechons'as a Fct:ancial Policy Tool ; I 1200 17TII STREET, SUITE 2200 DENVER, CO 80202 (303) 595-1200 ~ ~ This does not purport to be a complete statement of all material facts relating to securities mentioned. The information contained, while not guaranteed as , ~ to accuracy or completeness, has been obtained from sources which we believe to be reliable. Opinions expressed herein are subject to change without notice. This notice shall not constitute an offer to sell or the solicitation oFan offer to buy, nor shall there be any sale of these securities in any state m which ^p ,o said offer, solicitation or sale would be unlawful prior to registration or qualification under the securities law of any such state. *FCON~I pti~~``'~ Member New York Sock Exchange and S[PC TREASUx~R'S OrriCE ANll PLnLIC TRUSTEE°S OrriCE 0 1992 ACTIVITY REPORT OFFICE OF THE COC'NTl' TRE\SURER ~ P.O. BOX 9 (3~3i 3?8-2260 5;1 [3R0?~D\-1~,~1' OFFICE OF THE PU6LIC TRUSTEE EAGLE, COLOR,~DO 21631 13031 335-28?0 { FA.\: i303i 3~'2-72U~ _tiu: EAGLE COUNT', COLORADO Dear Eagle County Taxpayers, The staff of the Eagle County Treasurer's and Public Trustee's Office has attended various classes and seminars to enhance - knowledge, efficiency and customer service. Cross-training has been easily accomplished due to the eagerness of the entire staff to understand as much about the duties of the two offices as possible. This program has resulted in the presentation of an extremely courteous and professional office. We operate as a team, all working to fulfill our mission statement and the goals that each individual team member has set for both herself and the office as a whole. To increase my knowledge and skills, I have attended several seminars and have become active in the Colorado Treasurer's Association. Through this association, we have a network of information and experience to call on. Serving on their Legislative Committee is giving me an opportunity to be involved with government at the state level and to have input on pending legislation. I was invited to be an advisor to the Treasurer's Accreditation and Continuing Education Committee, and helped to develop a program acknowledging the importance of experience coupled with basic education knowledge as requirements necessary to meet the ongoing changes inherent in a County Treasurer's Office. I will be one of the first County Treasurer's to be eligible to apply for accreditation this year. The passage of the Bruce Amendment presents many challenges for Eagle County. The Treasurer's and Public Trustee's Office will do our best to meet these challenges and continue the fine level of service we now provide. I hope you all have the opportunity to meet my staff in person or, at the very least, to have contact with them on the telephone. You will find them very helpful and efficient. We are always looking for ways to improve our service and would welcome your suggestions and comments. S' cerely c~~~~~ herry Brandon - FUNCTIONS AND DUTIES OF THE TREASURER _ The principal duties and powers of the County Treasurer are set forth in the Colorado Revised Statutes. The Treasurer is elected by the people of Eagle County for a term of four years. The primary duty of the County Treasurer is to act as custodian of funds. This includes receipt, management, investment and disbursement of those funds, consolidating into one agency the responsibilities of the levels of government listed below, thereby eliminating duplication of effort. County School Districts Cities and Towns Special Districts (Sanitation, Fire, Water, Ambulance) Library Motor Vehicle Fees (Collected by the County Clerk and deposited with the Treasurer for allocation) The Treasurer is also responsible for the collection and distribution of taxes. All taxes collected are apportioned and distributed to the State, County, cities and towns, school districts and special districts within the County, in accordance with the mill levies, on the tenth of each month. There is an additional distribution made to the school districts on the 24th day of March, May and June. Penalty interest is apportioned in the same manner. Monthly statements reflecting the amounts collected and the disbursements thereof, are prepared and submitted to the Board of County Commissioners and the officers of each taxing district. Reports of the fiscal activities of the Treasurer's Office are prepared and published semi- annually in the local newspaper. MISSION STATEMENT OF THE EAGLE COUNTY TREASURER AND PUBLIC TRUSTEES OrriCE Through team effort and professionalism, we, the staff of the Eagle County Treasurer's and Public Trustee's Office, will serve the citizens by collecting and distributing revenue, provide prompt, courteous and accurate information and other services as required by law. Composed by the Staff 1 TREA,S?URER'S ~r~r~l~:~ ACC~MPLISH11~~1TS 199 1, Developed a policy and form to be used by special districts and municipalities to certify special assessments, transfer taxes, etc. to be collected, along with taxes, by the Treasurer's Office. 2. Discontinued mailing second half tax due notices, creating a savings of nearly $2,000 in postage and printing alone. 3. Researched, consulted staff and compiled a new Treasurer's Office computer system specifications, including operations missing from the current system and new functions such as bar code scanning and imaging to increase efficiency. 4. Reviewed proposals submitted by vendors for the new computer system, set-up on-site demonstrations for staff evaluation, consulted with Data Processing Department and prepared recommendation for Board of County Commissioners. 5. Put on permanent loan the tax rolls from 1897 through 1940 to the Eagle County Historical Society. 6. Balanced and cleared escrow, redemption, road cut bonds and offsite road improvement accounts. These accounts are now balanced and cleared monthly. 7. Designed and implemented a Lotus spreadsheet program to allow distribution of delinquent tax receipts to all taxing authorities on a quarterly basis (previously a semi- annual distribution). 8. Compiled an accounts receivable report on all outstanding personal property taxes dating back to 1986. Implemented new personal property collection procedures and collected $25,000 in delinquent personal property tax . 9. Sent uncollected personal property tax accounts to the State of Colorado, Central Collections for collection. 10. Designed and implemented Lotus spreadsheet to record and report abatements, tax write- offs and cancellations to the Assessor's Office and to the State of Colorado Department of Taxation. 11. Developed and put into use a Lotus spreadsheet program to track and report billings and payments for special assessments. 12. Researched and compiled year 'end write-off for delinquent personal property taxes determined to be uncollectible. Cleared write-off books back to 1986. This will be an annual procedure as required by Colorado Statutes. 2 r ` 13. Completed microfiche of tax rolls and began microfiching tax receipts. 14. After researching and attempting to contact payees, wrote off all outstanding checks determined to be unpayable dating back to 1986. Established policy for periodic updating. 15. Developed and implemented cash (investment) subsidiary ledger. 16. Initiated a courtesy reminder call program to delinquent Eagle County resident taxpayers so that they could avoid having their property go to tax sale. 17. Sent 50% fewer properties to advertising prior to tax sale. This indicates a substantial increase in tax collection. 18. Contacted taxpayers and collected $20,000 in mobile home delinquent taxes. 19. Collected $9,610 in premium bids at the tax sale. 20. Posted a Certificate of Taxes Due with all Distraint Warrants indicating all delinquent taxes due and all tax liens against the property. 21. Sent staff to an array of professional development seminars. 22. Staff turnover has gone from 100 % average in 1990 to 6 % in 1992. 23. An investment policy was developed, presented to the Board of County Commissioners and adopted. This policy has made investment diversification well defined and easy to manage. 24. Balanced school land dedication and prepared reports for the school districts. 25. Transferred Federal Range Improvements Fund balance of $18,377.80 to the County General Fund. These monies began to accrue in 1985 and had not been included as part of County revenues until this year. 3 TAX LAN SALIE Enforced collection of delinquent property taxes and special assessments are the responsibility of the Treasurer. Real property taxes, mobile home taxes and special assessments that remain unpaid are subject to the tax lien sale conducted annually in November. Four hundred one tax liens were offered for sale, totaling $835,690.93. This represents a 28% - decrease in the number of properties going to tax sale and a 40 % decrease in the total dollars, indicating a significant increase in collection performance. Premium bids of $9,610 were collected and deposited to the general fund. When tax liens are sold, the purchaser is issued a Cerkificate of Purchase, which is a priority, - recorded lien secured by the property. Property owners have a redemption period of three years for real estate as compared to one year for mobile homes, unless the mobile home is located on real property that is owned by the mobile home owner. The tax lien investor receives 12 % on 1992 tax liens until they are redeemed. r~~ES During 1992, fees earned by the Treasurer's Office for various services provided were a contributing source of income to Eagle County. The fee system is set by the constitution and was adapted to provide funding for the Treasury and reduce the burden on property taxpayers. Fees are charged for the collection of taxes, the issuance of Certificates of Taxes Due, Certificates of Purchase, endorsement of a Certificate of Purchase, Certificates of Redemption, issuance of a Treasurer's Deed, etc. The following is a breakdown of the fees earned in 1990, 1991 and 1992: 1990 $652,780.55 1991 $730,651.59 1992 $928,381.36 INVESTMENTS The Treasurer is the County banker and investment officer, providing an additional source of revenue (interest earnings) for the County. Banking institutions, Treasury Notes, pool funds and others are listed in Colorado Statutes as eligible depositories/investments for County funds. Priority is given to safety, liquidity, term and yield of the investment. All institutions must comply with the State's Public Deposit Protection Act, which collateralized investments. Proper collateral is pledged to protect amounts placed on deposit that exceed $100,000. Prudent and sound management of the monies in the custody of the Treasurer has become even more important because of the falling interest rates. 4 A formal investment policy and procedure was developed and presented to the Board of County Commissioners and adopted. The adoption of this policy has defined the investment philosophies of Fagle County and made it less complicated and less time consuming for the Treasurer's Office to diversify County investments. TAX EVALUATION There are two steps in determining the amount of your property taxes. The first is to determine what your property is worth. This process is an administrative function of the County Assessor's Office. The second step involves how many property tax dollars are required to provide services by the various taxing authorities that operate in the geographical area in which your property is located. The Treasurer is responsible for the collection of property taxes and distribution of monies to the various taxing authorities, but has no jurisdiction over valuations or tax rates (mill levies). You may protest the valuation of your property during the appropriate period of time. A property owner may appeal the value placed on their property when they believe: 1. The property is valued too high; 2. The property has been valued twice; 3. The property is exempt from taxation. While valuation of property is the first step in the property taxation process, establishing tax rates is the second step and is accomplished by the various units of local government. Annually, beginning in September, local taxing authorities hold hearings on proposed budgets. To determine when these hearings are going to be held, you may contact the taxing authorities identified on your tax statement. Property owners should attend these hearings and voice their opinions on spending priorities and amounts. WHAT DO TAXES PAY FOR? Schools Police and Fire Protection County/City Road Construction and Maintenance Water and Sewer Lines Public Libraries Recreation and Parks Public Health, Services, Welfare and other Social Services Court System 5 P~COPERTY TAX COLLECTION Ad valorem (property) tax collection is the primary function of the Treasurer's Office. The collection process is is compliance with Colorado Revised Statutes. Property tax revenues collected during the month are distributed on the tenth day of the following month. Beginning in 1992, Colorado Revised Statutes required that an additional distribution be paid to school districts only, on the 24th day of March, May and June. The following is a list of the authorities that levied taxes in one or more of the 76 taxing areas (districts) in Eagle County, the assessed property value of the authority, their tax levy and the revenue they had budgeted for the year 1992. Total r. t~ valuation Nearest z Mill =Revenue Ten Dollars Levy (Dollars) COUNTY PURPOSES General $ 731,268,820 5.203 $3,804,790 Contingency 731,268,820 0.013 9,501 Road and Bridge 731,268,820 2.682 1,961,266 Public Welfare 731,268,820 0.402 293,971 Capital Expenditures 731,268,820 0.270 197,445 Retirement 731,268,820 0.278 203,292 Insurance Fund 731,268,820 0.347 253,749 Bond Redemption & Interest 731,268,820 0.831 607,682 INCORPORA i TOWNS Avon $ 38,021,810 25.573 $ 972,330 Basalt 12,791,460 6.151 78,680 Eagle 11,654,980 8.367 97,517 Gypsum 18,519,480 8.139 150,730 Minturn 6,559,070 17.934 117,630 Redcliff 1,037,860 71.937 74,661 Vail 327,584,030 6.350 2,080,160 LOCAL IIVIPROVEMENT AND SERVICE DISTRICTS Arrowhead Metropolitan $ 14,546,050 29.898 $ 434,898 Avon Metropolitan 36,716,480 12.040 442,066 Basalt Library 46,936,390 1.478 69,371 Basalt & Rural Fire 46,569,890 4.707 219,2045 Basalt Sanitation 12,590,930 1.237 15,575 Basalt Water Conservancy 44,758,180 .134 5,998 Beaver Creek Metropolitan 120,168,830 31.750 3,815,363 Bellyache Ridge Metro 1,474,100 23.387 34,475 Berry Creek Metropolitan 20,301,670 25.612 519,966 Bighorn Water 12,150,730 1.810 21,993 Cascade Village Metro 18,243,430 22.304 406,901 6 LOCAL I1ISPROVEMENT AND SERVICE DISTRICTS CONT. Total F...r;,.ly Valuation Mill Nearest x Levy =Revenue Ten Dollars (Dollars) Cedar Hill Cemetery Assoc. 28,348,380 .886 25,117 Colorado River Water Cons. 731,268,820 .394 288,118 Eagle CO. Emerg. Serv.Hosp. 632,087,350 1.375 869,131 Eagle County Library 356,748,400 2.750 981,082 Eagle Cemetery 21,328,590 .619 13,202 Eagle Sanitation 11,680,290 1.360 15,886 Eagle-Vail M;.t..,Y~litan 33,250,330 16.727 556,178 Edwards Metropolitan 15,500,290 16.950 262,731 Gore Valley Water 19,919,470 3.514 69,997 Greater Eagle Fire General 20,799,730 4.988 103,750 Greater Eagle Fire Bond 20,799,730 .553 11,503 Gypsum Fire 23,864,210 8.996 214,683 Gypsum Sanitation 18,272,920 1.055 19,278 Lake Creek Meadows Water 0 0.000 0 Lions Ridge Water 16,742,410 3.583 59,988 Mid-Valley Metropolitan 11,219,950 8.000 89,760 Minturn Cemetery Assoc. 364,225,050 .026 9,469 Radcliff Water & San 0 0.000 0 Upper Eagle Valley Cons. 590,402,900 .704 415,645 Upper Eagle Valley San. 356,263,800 2.622 934,124 Vail Intermountain Water 8,994,440 3.335 29,996 Vail Park & Recreation 329,812,710 1.350 445,249 Vail Valley Cons. Water 332,640,530 1.334 443,743 Vail Village West Water 21,168,120 2.125 44,983 Vail Water 0 0 0 Vail Water & Sanitation 234,139,100 1.179 27b,050 West Eagle Co. Ambl. 52,031,140 3.917 203,806 Western Eagle County Metro 80,904,110 3.980 321,999 SCHOOL DISTRICTS RE-SOJ-Eagle County General ~ 683,831,170 24.413 X16,694,370 RE-SOJ-Eagle County Bond 683,831,170 3.893 2,662,155 RE-1J-Roaring Fork General 47,150,330 39.741 1,873,801 RE-1J-Roaring Fork Bond 47,150,330 7.398 348,818 1-JT-West Grand General 287,320 37.111 10,663 1-JT-West Grand Bond 287,320 4.776 1,372 Colorado Mtn. Jr. Coll. 731,268,820 3.997 2,922,890 7 EAGLE COUNTY TREASURER'S REPORT FOR THE YEAR 1992 - CASH ON HAND REC®PT DISB CASH ON HAND LAST REPORT TOTALS TOTALS CURRENT Creaieral 2,810,174.94 11,150,584.20 10,053,157.94 3,905,f01.2D Rued do Bridge 960,462.18 4,120,238.22 3,823,400.08 1,257,300.32 Public Welfare 220,236.11 1,248,250.48 1,153,530.75 314,955.84 Capiml Hxpea 99,539.23 181,022.03 209,851.31 70,709.95 library 66,271.48 424,428.01 379,308.26 111,397.23 R..;._.~. 171,537.08 216,403.62 197,413.71 190,526.99 Intergw. Motor Pool 1,794,233.30 2,059,931.42 1,808,386.12 2,043,778.60 Cadingeat 292,741.25 65,084.28 1,882.68 353,942.65 Health Instuanoe 0.00 24,204.01 0.00 24,204.01 Reveswe Sharing 2,926.74 0.00 2,928.74 0.00 Imuraocro Reserve 291,227.72 303,918.56 330,758.78 264,387.30 Capital 1..,, t 1,625,146.90 2,236,563.72 2,915,612.20 916,098.42 C...,. Tn:et 33.77230 67,602.50 62,701.00 38,673.80 Debt Service 347,561.55 860,839.20 790,722.09 347,561.53 1989 F,C'00 Censtructica 54,181.81 54,576.14 2,987,571.41 54,181.61 C...... , . (ECJ(.~ 20.15 0.00 20.15 0.00 Saks Tax Security Res. 560,000.00 0.00 415,000.00 360,000.00 Airport 1,271,682.26 1,798,179.72 1,572,132.48 1,497,129.50 Leodfill 298,489.08 661,366.23 572.683.23 387,1?2.10 Subtotal ]0,833,934.60 25.173.095.95 23.734,365.59 12.252.664.96 6CHOOL TRUST is AGENCY: CMC Oeaeral 27,101.30 2,998,927.42 3,017,619.43 8,409.29 RE501 General 141,819.98 17,593,003.83 17,685,595.88 49,22'1.93 RE50J Bond 20,843.21 2,188,542.76 2,203,264.93 6,121.04 RE1O®eral 4,075.44 1,967,144.54 1,965,471.23 5,748.75 RE1 Bond 712.98 338,233.14 338,025.08 981.04 Wet Grand h Oeaerel 47.52 9,804.31 9,813.77 38.06 West Grand H Bond 6.25 1,293.43 1,293.97 5.71 SubWtal 193,666.68 25,096,949.43 25,221,084.29 70,531.82 TOWN TRUST is AGENCY: Avon 3,690.52 1,047,037.75 1,045,788.02 4,940.25 Basch 3,122.25 81,339.87 79,302.83 5,159.29 Eagle 4,786.73 109,390.59 104,641.65 9,533.69 Gypsum 76].48 158,636.13 158,264.98 1,132.63 Mmturo 1,360.27 124.128.42 124,945.80 542.89 Red Cliff 204.46 66,337.82 68,373.39 168.89 Vail 35,646.60 2,131,258.03 2,161,034.54 5,870.09 Subtotal 49,5'72.33 3,720,128.61 3,742,351.21 27,349.13 SPECIAL DISTRICT' TRUST: Cedar Hi14 Cemetery 28,865.84 27,009.43 15,789.91 40,085.36 Eagle Cemetery 12,146.36 14,903.10 18,332.66 8,716.80 Ivfinluro Cemetery 8,904.20 9,249.78 10,347.10 7,806.88 Greater Eagle Fire Oea., 245.11 116,104.03 115,710.33 638.81 Oroafer Eagle F've Bond 7,002.47 13,713.73 11,606.25 9,109.97 (treater l~gle Fire Pea. 0.00 -7.92 0.00 -7.92 Basch Rural Eve 12,716.95 232,915.95 233,534.86 12,098.04 Gypsum Fire 462.50 212,499.66 212,128.73 833.41 Arrowhead A".. .ri:... 921.66 419,913.53 419,193.21 1,643.98 Avan Metropolitan 1,307.53 471,414.95 470,939.38 1,783.70 Beaver Creel: Metro. (4,735.48) 3,824,472.50 3,811,436.38 6,300.64 Bellyache Metropolitan b8.78 33,665.06 33,538.18 193.66 Berry Creek Metro. 1,087.17 396,723.07 396,253.69 1,556.55 Eagle-Vail Metropolitan 1,606.97 577,257.84 576,868.20 1,996.61 Vail Park R Recroatien 7,348.14 463,508.27 471,979.87 876.54 Edwards Metropolitm 691.15 241,323.43 241,078.52 938.06 Afid Valley Metropolitan 186.33 83,047.65 83,192.83 41.15 Cascade YtBage Metro 1,315.59 451,649.59 451,014.49 1,950.69 Western E.C. Ambubmce 498.96 208,080.96 207,666.26 913.66 Western E.C. Metro Rec 1,306.13 329,868.85 330,004.63 1,14235 Besah Sanimtim 567.22 15,744.14 13,320.53 990.83 Eagle Seni~tim 553.22 16,788,88 15,982.23 1,359.87 Gypsum Sanitation 51.98 21,761.17 21,727.53 85.62 8 0 CASH ON HAND R&.car.o DISBURSBMENTS CASH ON HAND LAST REPORT TOTAL TOTALS CURRENT upper Eagle valley San. I,t9S.45 933,308.90 931.366.67 3,617.68 Basoh Water Con. 17.43 6,479.48 6,479.02 17.89 Bigisorn Water 73.13 23,117.32 23,099.14 91.33 Cob River Water Com. 2,383.27 293.031.91 296,382.40 834.76 Gore Valley Water 264.13 73,543.02 73,319.85 287.32 Lake Creels h" ~ ~ Wtr 127.36 18,308.73 18,365.89 70.40 Lima Ridge Water 167.58 37,422.62 57,342.84 247.36 Vail L~~., , m Wtr 86.29 31,623.09 31,583.01 124.37 Vail Vilk.ga Wars Wa4w 166.26 47,849.25 47,830.94 184.57 veil wader Only (12.08) (43.6 .76 (116.62) Red Cliff Waterer San 1,38D.33 11,826.42 11,827.17 1,379.38 Vail Water dt Sanimtico 6,376.22 287,235.2D 293,315.87 295.35 Vail VaBcy Water Cm. 6,850.97 461,083.32 467,052.07 882.72 Upper Bagk Valley Con. 3,804.24 422,875.13 123,526.68 1,152.69 Basalt Regioml Lsbrary 207.23 74,390.33 74,382.22 215.36 B.C. C.....,,..., Haspiusl 7,577.47 818,865.93 854,149.14 2,294.26 Subtotrsl 180,304.78 12,201,356.67 12,135,609.72 226,052.73 CLEARING ACCOUN'PS TRUSTS Susp~se 22,138.25 2,047,296.62 2,174,323.80 (104,890.93) R . 3...., ; , ~ 267,376.36 2,309,966.36 2,568,631.61 8,693.31 Ai ]Tax 229.03 3,410.27 0.00 3,639.30 Del'wqueat Tax 486,139.93 238,203.66 606,583.37 117,758.22 Escrow Acoamt 102,020.75 14,629.22 0.00 116,649.97 Spenfic Ownerahsp 0.00 2,368,008.63 2,946.'108.78 221,299.85 Moor VeJ,ick Col. 393.10 1,321,271.27 1,228,499.53 93,164.64 Of6ite Rued Imprvmn4 373,390.74 118,661.43 109,748.78 382,203.41 U.S. Mineral Lrmirsg 4,301.18 1,303.19 0.00 5,ti06.37 Forest Reserve 364.045.87 373.901.60 364.043.87 373.901.60 School Dedic~tien 37,073.11 38,116.97 0.00 75,192.08 Range Imprvmnt Did A2 17,596.24 (15,389.29) 2,206.93 0.00 Public Trvatee Sal Acct 78,139.13 9,080.03 0.00 87,239.18 T JE.C. Bus (18,352.48) 18,352.48 0.00 0.00 PDUD 83,390.17 58,697.23 19,280.08 172,807.34 Emergency 911 80,876.15 127,184.81 10,030.00 198,030.96 Vail-B.C. let Center 6,983.70 258.07 0.00 7,243.77 Rec Task Force 29.64 0.00 29.64 0.00 Subtotal 1,905,79k.87 9,232,956.81 9,430,112.41 1,708,639.27 TOTALS Eagle County: 10,831,045.60 25,202,186.95 23,783,026.59 12,250,203.96 School Trull & Agency: 194,666.68 25,096,949.43 25.221.064.29 70,531.82 Taws Trull 8e Agency: 49,372.33 3,719,653.61 3,741,876.27 27,349.73 Special District Trull: 180,303.78 12,201,356.67 12,155,609.72 226,052.73 Clearing Accts. Trust 1.905,794.87 9.466,600.84 9.665.756.44 1.706,639.27 13,161,385.26 73,688,747.30 74,367,353.23 14,282,779.51 9 1992 COU1l1TY REVISED BUDGET 29.2 ; . . _ _ _ 5.3 a_ ..:f f f' n.' j t. ~~i~ i ' i i :~~~~_.aaPL _ :elm:: 8.1 3.3 6.5 4.3 2.5 10.8 PERSONAL SERVIE:I~S - 35.3% ¦ SUPPLIES 3.3% ¦ PURCHASE SER~TIcr:S 10.8% ¦ FIXED CHARGES 2.5% DEBT SERVIc;.rS 4.3% ® GRANTS 6.5% ¦ INTERGOVT SUPPORT 8.1% ¦ CAr1~1AL OUTLAY 29.2% io ~ ~Ow Y0~ T~ ~1.. RAE~AGLE R~F.SiDE ~T 1991 TAX COLLECTED 1992 FO 15% ,N:!:.; ~ry,:~: l!11r;{, y: Uµi;;i,,;i;6,~.1iµ„l~il~''ISI ~'j~•:~i~'~:~Tyi i,i;P;iil:{ksfi;~:::;;; ~!I,yf; i h , i:x~-!!!:: '1',!~hl~'n{ :j^;!~ ng;!,~u'~y' iA{i{~''Yts1~~1~'i~N ht , i o; µ II J'µil`,ail~:iny: i,~nlii iii'( ~ 'wh „~.h~~~"~I III ~ ~4(! j;~~~r: e;..:{, !t: !U' N G' 1 611:~~~¢,~~~'~~ ~~~,,1~i(piik~,~y~s!'~+,~1!n~11ih~7i:'iiy :17i qy luf"'~RIsMi. iµ! nnl!i'i!jt'ti~~ i~9'A'. ~ulf~il{Nii~iu '~.~iL:llll:ij~tl.!ijf1,~IIrtNN'!:!M NM.,41ph;' itN!ij!ift ~~~~d nH..!~u'14~i''qurnrtl~r. i; aa~:,:nu; 4!4",:. ~'!~I~. v!N+r,:e S!J:.r:., ~T~':.j;:~r~nyr.;pl: 12% i~, ~,,;~u~~,~;ilk,!M~~p~,l~,i{;a4,i~µµyrytti~~1!i"i~i;,l~~~,,js!A ~~~M~'@~,J. ti • I iG t:1~1A4~,1{µk NNi~ n~l~~.id:: r~l ''4: rti:iiiii~!1 i! 14' rt•l µiu~µ. ;;.;j't,n.,;,.. ~LG;ip~ i ~i:d~~t ~ Ai< nu.:!N.:f!~+~i!: f,'::iIr!sil ~blN.B+~j~,!~ ~;;k~..ir yn. ~i!OU4rj~lu~ii'i!ei!t;i Q!! , i~ S! y~' I..7 li ` era' 11 N`~~:, :yi; !!itf !1!i~ Qa' !!iy~ !y:c'!4i~:µ¢4.Si~;~µ;.1; jrt.:: ; ~j Iwi t;.. 'r.4:.:. ~I I ~f,4G;lii~i:iRr' ~LiiiPiF:~rjir~ji~5i~?ei~,;i jrj'r.';j'. I.!~~!~{{LLii6fi~ li~aa.i N. i. r1.P5:'! ~ ~ 1.14. pr.;: a. pp~~~~ i i~N..i. ^i. j1 ~4P ~,~il~f'911;ii : ~!!n:: ;',A.U : au! Ai: k~i ,II' r n, ~ ,r. I. ,1 ' ChM.! ;I,: k~ I: 1~ , ! i e; I~!~Il,tu' N ~ it ~ 'dil'l!'' iii Ilil, f.!ly~yy!!!r~,i ~,~~;I,ti.h. u'~~~!,q~!~~!h~;'=i~y p~ xl ! {'}'I`Ai~sklf4Nµ!at:ri 670 ~ Nrvt~'~"~y`~rJ}}~!,!,;;„:: !:'~x+.a µ 4.i ~ Lr? JO SCHOOL DSt KILl~ 42%% ¦ SPECIAL DISTRI~-1 ?.5 vk>` CMC 6% k Y::•: ¦ Towivs 12% ¦ COU1V'1~Y 15% 1 ii NO~~'~S TO REMEMBER ABOUT TAXES 1. The Treasurer does not determine the mill levy or the amount of your taxes. The Treasurer's responsibility is to bill and collect taxes due; 2. Taxes are due January 1 each year for the previous year, and may be paid in two equal payments, if the total taxes are greater than $25. The first half must be paid by February 28, and the second half must be paid by June 15, or the full amount must be paid by April 30. Taxes not paid accordingly accrue interest at one percent per month; 3. All property taxes become delinquent August 1 of each year; 4. Failure to pay property taxes can result in the loss of the property; 5. When buying, selling or trading tgriy property (including personal property) you should obtain a Certificate of Taxes Due from the County Treasurer. This is a guaranteed certificate of the status of property taxes on which you can rely 100%; 6. Change of Address: When an owner of the property desires to have the tax bill and Notice of Valuation is mailed to him at a different address, he should notify the County Assessor's Office in writing at P.O. Box 449, Eagle, Colorado 81631. 7. If you do not receive a tax statement by February 1 of any year, please contact the Treasurer's Office. 8. Each year in October, all delinquent taxes are published in the Eagle Vallev Enterorise by owner's name in alphabetical order. It is a good idea to check this list to verify that you are not listed. 9. Check your tax statement to verify there are no previous year's taxes due. 12 U?~uC. ~ t t tU5 a r! y~ TOWN OF VAIL COUNCIL CONTINGENCY 1993 Original Budget Amount $50,000 Uses: Performance and Conference Center Demand Analysis 15,000 Bonus Pay for 20 Year Employees 6,000 Professional Fees -Role Defining Town Council 8,000 Contribution for Trip & Books, Pins for Soccer Club 1,000 Contribution - WE Recycle 4,000 Total Amount Used 34,000 Total Amount Left $16,000 COUCON92 11-May-93 May 1, 1993 WORK SESSION FOLLOW-UP Page 1 of 1 i~ TOPIC _ QUESTIONS _ FOLLOW-UP SOLUTIONS_ 1991 Walking tour scheduled for 5112193, beginning at 1:00 P.M. There 11119 NEWSPAPER VENDING MACHINES LARRY E.ITIM D./JIM C.: What can be done to make these remains a great opportunity to create a meeting of the minds in a field of uniform and locations less prolific? diverse opinion. 1992 02117 EXTERIOR LIGHTING KRISTAN/ANDY: Draft Ordinance. Larry E. will meet with attorneys representing'Ibarraavd Kravis. He will further explore the areas of non-conformities, tree lighting, and number of lights. First reading on 5/4193. 08/25 FOLLOW-UP WITH BUCK SHRADER PEGIPAM/LARRY G.: Mr. Shrader has called to find out Letter mailed to Mr. Baker 5-5-93 (see attached.) (CDOT)/JAKE BRAKES/SPEED whether there has been improvement on the maintenance LIMITS ON VAIL PASS for the west side of the bike pathNail Pass. Although CDOT has stepped up efforts to clean and maintain, their efforts have not been consistent, and this was communicated by Pam. 11110 COUNTY REGIONAL MEETINGS Next meeting scheduled for Thursday, 516193, from 5:00 P.M. - 7:00 P.M. at the Town of Avon. 03116 AMENDMENT 1 COMMUNICATION CAROLINE/STEVE B./STEVE T.: Develop timeline and STRATEGIC PLAN plan to reach all "organized" groups within the TOV as well as general public/develop education tools for group representatives/address issues through elections prolcon piece. 04127 NOTICE TO LARRY E: Notify both county offices of the Town's interest TREASURER'S/ASSESSOR'S in receiving all notifications of land tax sales in the county. OFFICES I a u d 'OWN OF PAIL S South Frontage Road Office of the Town Manager Vail Colorado 81657 303-479-2105 / FAX 303-479-2157 May 4, 1993 Mr. Robert Baker P. 0. Box 3087 Vail, CO 81658 Re: Truck Noise and Bus Stop Dear Mr. Baker: I wanted to personally respond to you about your concerns cn the I- 70 noise caused by truckers using their "Jake Brakes" and, the East Vail Interchange bus stop. First the noise issue. We've contacted the Colorado Department of Transportation (CDOT) regarding the noise caused by truckers corning off of Vail Pass too fast. We've requested that they change the truck speed limit and to add a sign to the affect that *_he use of "Jake Brakes" is prohibited through Vail. The rationale we used for these requests were based or. the cause/effect notion that; the posted speed limits ca~.:sed the truckers to go too fast; which then forced them to have to use their engine brakes; the resulting noise then exceeded the limits of our noise ordinance; and this should be prohibited. CDOT's response, succinctly stated, was, the existing speed limits on I-70 through Vail and especially for truck traffic were established using national standards. There was no justification to adjust the truck speed limits for safety reasons. CDOT also would not allow any signage that prohibited the use of vehicle safety equipment (i.e. engine brakes). They did say that they would conduct a speed study of the area, and they would allow a sign notifying drivers of the existing noise ordinance if we requested it. My experience with this type of informational signage is that it is ineffectual and it will not be requested. Regarding the bus stop. We are constructing very soon a paved parking lot on the south side of the interchange at the large curve on Bighorn Road, and we will be installing a covered bus shelter on the north side of the interchange in the vicinity of the existing Mr. Robert Baker May 4, 1993 Page 2 telephone location. These should be completed this construction season. Greg Hall, the acting Public Works Director can give you specific scheduling information. His phone number is 479-2158. I hope this helps. If it doesn't, please give me a call at 479- 2105. Sincerely, Larr E. Gr fel Acting Town Manager xc: Greg Hall, Public Works and Transportation