HomeMy WebLinkAbout1994-12-06 Support Documentation Town Council Work Session
VAIL T01IVN COUNCIL
WORK SESSION
0 UESDAll y DEVEM~ER 6g 1 994
6.00 P.M. IAtl 9 Otl CoVArVIL C9-9/9AYIBGRJ
Poi.7EItlDM'L
1. Leo Vasquez - 10 Year Anniversary.
2. Discussion of Resolution No. 24, Series of 1994 re: lease policy.
3. tnvestment Report.
4. 3rd Quarter Report.
5. PEC Report.
6. Executive Session - fVegotiations.
7. Informa4ion Update.
8. Council Reports.
9. Other.
10. Adjournment.
NOTE UPCOMBIVG AAEETING START T111AES BEL011V:
(ALL TIMES ARE APPROXIMATE AND SUBJECT TO CHANGE)
~ 0 (D 0 0 0 0
THE NE1tT bAEL YOWN COUNCIL REGULAR WORK SESSION
WOLL BE ON TUESDAY, 92/13/94, BEGIIdPIING 14T 2:00 P.M. IfV TOV COUNCIL CHAMBERS.
THE FOLLOWiNG !/AIL TOWN COUNCIL FiEGULAR WORK SESSION
WILl. BE ON TUESDAY, 1/3/95, BEGINfd11VC AT 2:00 P.M. IM TOV COUNCIL CHAMBERS.
TFIE hVEXT VABL TOWN COUNCIL REGUL.AF3 EVENIiVG MEETING
WOLL BE ON TIYESDAX, 1/3/95, BEGINNING AT 7:30 P.M. 6fV TON COUNCIL CHAMBERS.
~ • ~ • • • •
C:WGENDA.WS2
VAIL TOWN COUNCIL
WORK SESS10N
TUEt7DS0IIy DEWGMBE["'G 6y 199°4
2:00 P.M. IIV TOV COUNCIL CHAMBERS
EXPAIVDED AGENDA
2:00 P.M. 1. Leo Vasquez - 10 Year Anniversary.
2:10 P.M. 2. Discussion of Resolution No. 24, Series ofi 1994 re: lease policy.
Christine Anderson
Tom fVioorhead Action Requested of Council: Approve policy.
Mike Rose
Backqround Rationale: An informal lease policy was established in 1988.
The current policy is revised and should be approved by the Council.
Staff Recommendation: Approve policy.
2:25 P.iVi. 3. Investment Report.
Christine Anderson
2:40 P.M. 4. 3rd Quarter Report.
Steve Thompson
2:55 P.M. 5. PEC Report.
Mike Mollica
3:10 P.M. 6. Executive Session - Negotiations.
5:10 P.M. 7. Information Update.
5:20 P.M. 8. Council Reports.
5:30 P.M. 9. Other.
5:40 P.M. 10. Adjournment.
NOTE UPCOM9NG MEETINC START TIMES BELOW:
(ALL TIMES ARE APPROXIMATE AND SUBJECT TO CHANGE)
0 4D 0 0 0 0 0
YHE NEXY !lAIL YOWYV COUNCIL REGULe4Fi WOf$9( SESSION
!AlBLL BE ON TUESDAY, 12/93/94, BEGINNIIVG AT 2:00 P.M. IN TOV COUNCIL CHAMBERS.
THE FOLL0W9NG NABL YOINId COUNCIL REGULAR INORK SESSIOPI
WILL BE ON TUESDAY, 9/3/95, BEGINNING AT 2:00 P.M. IN TOV COUNCIL CBiAMBERS.
TFOE NEXT bABL 1'OWN COUNCIL REGULAR EVENIPIG MEETING
WOLL BE ON TUESDAY, 9/3/95, BEGIfVNIPIG AT 7:30 P.M. gN TOV COUNCIL C@iAMBERS.
• • • • ~ 9 ~
C:WGENDA.WSE
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INORK SESSION FOLLOW-UP
[TOPIC QUESTBONS F0LLOW-UP SOLUTlON5
1993
10/19 SNODU STORAGE LAND LARRY/BOB McL: Immediately pursue purchase from VA Current discussions presume a decision in 6 months (April '96).
PURCHASE of current snow storage site, as vuell as another 10 acres
adjacent to 4he west.
1994 ~~t K~~' George Ruther me4 vuith Joe fiNacy and Bob McClery on November 10,
02108 MANOR VAiL SIDEWALK BOB McLI Inves4igate blind corner, 1994. Update to fiollouux 4~
(request: Johnston)
02115 CHUCK ANDERSON YOUTH PAMIMERV: Confact VRD about moving up the selection Packet received and included in Paul's and Jan's materials, 513194.
AUUARD process 4o allovu auvards to be given during May PRIOR 40 Fh9B'$her PevIew ~f Y0uth AwaPd propo3aV g0'oPEV JaPV and PaUO $o be
(request: S4rauch) graduation or to be included with the graduation dlscaassed at 4412/Wwork sess9oro.
ceremonies. 14.1,3- 5~
03/08 UNDERGROUNDING OF UTILITIES LARRY: Create aMasfer Plan to phase the undergrounding Larry has memo in process.
MASTER PLAN of all above-ground utilities vuithin Vail.
(request: Council)
03108 NIGHT LIGHTINGINIGHT TOUR LARRY: 14 would appear our night lighting in the TOV, in the past, budgeted $30,000 for atlding lights to bus stops, street
(request: Strauch) Crossroads/VTRCICovered Bridge area could use some intersections, and bridges for safety. Starting in 1994, the budgeted
09/27 COUNCIL IS REQUESTING A COPY enhancement. What is the street lighting program currently amoun4 was increased to $50,000 to address both safe4y concerns and
OF THE OVERALL LIGHTING "PLAN" geared toward? those areas addressed in the Village Streetscape Plan.
PRIOR TO THIS NIGHT TOUR.
COUNCIUSTAFF: In the near future, uve will try to Additional Christmas lighting at VTRC depends on a prioritization of
schedule an evening "tour" to look a4 4he ambience created funding. Does Council wish to schedule a light tour?
and safety issues inherent in our "core" community.
04/05 SIGNS LARRY/GREG: Why are there so many signs in this town? Tom, 8(en, Buck, Larry, Greg w9lB set Issue fop generaV CouncBl
They represent neither a quality appearance nor are fhey dIscuss6on on January 3,1995.
"user-friendly." There are 24 signs between Tom
Steinberg's house and the TOV...
November 18, 1994 Page 1 of 2
crd~ mo :
07I05 PLAQUE PLACEMENT 11}(E M,IPAM: Elizabeth Wilt has requested the Town MI ,IPAM: +George-Sutheull.-~eet with Elizabeth Wilt, Marge
follow-up with memorializing both John and Cissy Dobson at urdick, Dick Hauserman, Vn nd y 1il2i194 fo
a site on or close to the Covered Bridge, as well as Chuck determine Covered rideemen ~~4-
e-
Betcher in the area of the Crossroads benches (adjacent to rh1~n.D ~Alfalfa's). Re: Chuck Betcher plaque, Elizabeth is now working with Todd
Oppenheimer to locate suitable placement on public property, rather than
at the original Crossroads location.
November 18, 1994 Page :kof 2
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T0WN OF UAIL ~
75 South Frontage Road Office of the Town Manager
Vail, Colorado 81657
303-479-21051 FAX 479-2157 MEMORANDUIVI
TO: Vail Town Council
Robert W. IVIcLaurin, Town Manager
George Ruther, Planner I
Larry Grafel, Public Works Director
FROlVI: Pamela A. Brandmeyer, Assistant Town ManjD
DATE: December 1, 1994
RE: Covered Bridge/Dobson Plaque Placement
I was able to meet on 1Vlonday, November 21, 1994, with a group interested in placing a
plaque in recognition of John and Cissy Dobson's contribution to the Covered Bridge. Group
members are as follows: Elizabeth Wi1t,lVlarge Burdick, Dick Hauserman, Pete Seibert, and
Bill and Sally Hanlon. The group indicates a desire to place a bronze plaque on both ends
of the Covered Bridge to be placed on the cross beam im.mediately visible by the public
entering the bridge. The plaque at this location would read as follows:
The Covered Bridge
Dedicated 1965
Additionally, the group has requested a further explanatory plaque to be placed on the rock
immediately to the west of the primary entry into the Covered Bridge, and tnis plaque would
read as follows:
John a.nd Cissy Dobson were responsible for many thi.ngs inVail's community -
including this Covered Bridge. It was constructed in 1965 and serves as the
connection for guests from all over the world to our beautiful town.
Welcome!
I have explained the time frame on the renovation of the Covered Bridge ta this grcup and
they are i_n.terested in the reaction of the Town Council in regard to this proposal. To a
person, they feel placement of the plaque on the Covered Bridge and on the rock is far more
appropriate than commemorating John and Cissy in any manner in the new packet park. that
is to be landscaped and constructed in the spring of 1995. -
Thank you.
PAB/aw ,
RIESOLUTBON NO. 24
SER9ES OF 1994
A RESOLQ.DTVON APPROV9NG TC-9E PRESENT T01fVN OF VABL
~EASE SC~~DULIE AIVD. CaFiANTiPIC t4lJTIiOROTY TO THE
T0WN MANAGER TO EN~ER 9NT0 LE,4SE AGREEIIAENTS.
IA/HEREAS, Section 13.3 provides that Council may lease, for such term as Council shall
determine, any real or personal property to or from any person, firm or corporation, public or
private, governmental or othervvise; and
V1/HEREAS, the Council has reviewed the present Town of Vail lease schedule; and
VUHEREAS, the Town Council has reviewed the financial policy and procedures for the
rental of deck space and commercial space in parking structures (94-1);
fVOV1/, THEREFORE, BE IT RESOLVED by the.Town Council of the Town of Vail,
Colorado:
1. That the lease schedule is hereby approved.
2. The Town Manager shall enter into such lease agreements and renewal of lease
agreements as are appropriate.
3. That this resolution shall take effect immediately upon its passage.
IIVTRODUCED, READ, APPROVED AiVD ADOPTED this 6th;day of December, 1994.
Niargaret A. Osterfoss, Mayor
ATTEST:
Holly L. McCutcheon, Town Clerk
C:\RESOLU94.24
Y Resolution No. 24, Series ot 1994
FINANCIAL POLICY AND PROCEDURES
RENTAL OF DECK SPACE AND COMMERCIAL SPACE
IN PARKING STRUCTURES
94-1
SCOPE This policy covers the process of the Town leasing
decks, office space located in the Town's parking
structures, and any other building space leased.
LEASE .
NEGOTIATION The Town Attorney is designated as the key lease
negotiator and will delegate to and rely on, as
needed, other designated Town staff during the
negotiation process.
LEASE
ADMINISTRATOR The Finance Controller or designee is designated as
the Lease Administrator. PARKING
STRUCTURE
SUPERINTENDENT The Parking Structure Superintendent is responsible
for negotiating lease terms and working directly
with Lessees for all lease space in the parking
structures, except the Teen Center area which is
the responsibility of the Vail Recreation District.
INVENTORY OF
DECK RENTALS The Community Development Department and/or the
Town Clerk's office and/or the Town Attorney's
office shall submit current information regarding
new or revised leases to the Lease Administrator.
The Lease Administrator shall take inventory of
deck rentals annually to make sure all decks
rentals are being billed and payment received.
Inventory procedures:
The Lease Administrator shall meet with Community
Development and the Town Clerk's office to ensure
all new deck rentals or terminations are
inventoried.
NEW LEASE
AGREEMENTS The Parking Structure Superintendent, Community
Development Department, or Lease Administrator, or
any other department of the Town should notify the
Town Attorney when a new lease needs to be drafted.
After drafting, the lease agreement should be
reviewed by the Lease Administrator and Finance
Director as appropriate. After the lease is
1 r
•'h: -..°.ri. .
executed one original should be filed within five
(5) working days with the Town Clerk and, a copy '
should be filed within five (5) working days with
the Lease Administrator and the department
negotiating the lease.
LEASE RENEWAL The Town Attorney should review the lease and
either recommend renewal, termination, or
renegotiate a new lease. Any final action taken by
the Town Council should be communicated to the
Lease Administrator.
BILLING A billing should be made by the Accounts Receivable
Administrator in Finance approximately 15 days
prior to the due date of the lease payment.
VERIFY LEASE
TERMS The Lease Administrator should determine within 30
days after execution of the lease, that all non-
financial terms are being met by Lessee (e.g.
certificate of insurance on file). If they are
not, a letter should be sent to the lessee
requiring the needed information. If after 60 days
there is no response.by the lessee, this should be
communicated to the Town Attorney who will advise
the Lease Administrator on further action.
DELINQUENT
PAYMENTS All lease payments are due in accordance with each
lease's specific terms. However, if a lease
payment is not received by the due date, the
Parking Structure Superintendent and/or Town .
Attorney should be notified and.penalties will be
billed on the first billing after the due date.
The Lease Administrator shall provide a monthly
compliance report to the Parking Structure
Superintendent, the Town Attorney, the Finance
Director, and the Town Clerk.
LEASE SIGNING The Town Manager shall sign all leases.
MONTHLY
MEETINGS The Lease Administrator should hold monthly lease
meetings that include the Town Attorney, Lease
Administrator, Parking Structure Superintendent,
Town Clerk, and other parties as deemed necessary.
The purpose of such meetings is to share
information regarding lease renewels,
delinquencies, compliance with lease terms, etc.
2 ` Y
NOTIFICATION TO
BUDGET OFFICE The Lease Administrator shall provide an annual
listing with anticipated lease revenues for the
next fiscal year to the Budget Officer on or about
the first of August.
ANNUAL REVIEW At least annually the Lease Administrator should
review all leases with the Town Manager and the
Finance Director.
Effective Date Town Manager .
3 e
12/01/94 03:48 PM
TOV - Lease Schedule
Annual Additional
Lessee Lease Notes Rent Benefits Type
Dates Minimum Given
Bart& (IRA 1/8/95
Yeti's OF To $1,820.00 Deck
Deck VAIL) 1/07/00
Blu's 12/1 /94
Beanery To (Signature $557.20 Deck
Deck 11/30/99 Pending)
11 /20/94
Hong Kong To (Signature $1,097.70 Deck
Deck 11 /19/99 Pending)
1 /1 /92
Lancelot To (Signature $400.00 Deck
Deck 12/31/94 Pending)
Ore 9/1 /93
House To $840.00 Deck
08/30/95
Sweet Basil 4/1/93
To $300.00 Deck
03/31 /98
Up the Creek 12/17/94
Bar & Grill To (Signature $800.00 Deck
12/16/99 Pending)
Vendetta's 2/13/95
Deck To (Signature $2,740.00 Deck
2/12/00 Pending)
Charter Sports 9/30/94 (Signature $4,800.00 1 free blue pass Parking Structures
To Pending) or 10% of or upgrade to
9/30/99 gross sales gold for $500
($500)
Cinnamonny 08/28/93 $13,916.00 1 free blue pass Parking Structures
Buns & To or 10% of or upgrade to
D'Coffee 08/28/96 gross sales gold for $425
Beanery ($500)
Colorado Mountain (Signature $14,400.00 Parking Structures
Express Pending)
Colorado 1/1/91 2 blue passes +
Ski Museum To $3,500.00 50 coupons Parking Structures
12/30/00 ($1,237.50)
LEASESCH.V11K4
12/01/94 03:48 PM
TOV - Lease Schedule
Annual Additional
Lessee Lease Notes Rent Benefits Type
Dates Minimum Given
Co. West 8/9/83 (Renewal 2 parking spaces
Regional To Pending) at no charge Parking Structures
Mental 8/9/88 ($1,000)
12/1 /93
Greyhound To (Signature $4,860.00 1 free blue pass Parking Structures
11 /30/95 Pending) ($500)
2/22/91
Vans to Vail To $13,466.65 Parking Structures
02/21 /93
Subway 1/20/92 $9,600 or 1 free blue pass Parking Structures
(Avon Subs) To 5% of gross ($500)
01 /19/02 sales/mnth
Westrac, Inc. 8/1/93
Thrifty Car To $26,400.00 Parking Structures
Rental 07/31 /95
ABC 07/01 /91
School To $1.00 Space
08/31/02
Learning Tree 8/1/87 $1.00 Space
To
08/31 /02
Lionshead Popcorn 1/1/95
Popcorn To (Signature $5,131.80 Space
Wagon 12/31/97 Pending)
R. Schultz
05/13/94
Vaillnvestment To $48.00 Space
Company 05/12/99
Vail 12/31 /94
Recreation To $32,000.00 Space
District 3/27/15
Vail (WTCB) 05/01/91 1 parking space in
Valley To $20,000.00 TOV parking lot Space
Tourism 04/30/96
Vail 02/28/94
Valley To 1 free blue pass Space
Arts Council 02/28/99 ($500)
LEASESCH.VVK4
12/01/94 03:48 PM
TOV - Lease Schedule
Annual Additional
Lessee Lease Notes Rent Benefits Type
Dates Minimum Given
Vail 11/1/91 $10.00 Space
Valley To for 420 coupons
Foundation(WF) 10/31/95 term ($1,995)
Vail
Valley Open None Space
Med. Cntr
1/1/95
Village Popcorn To (Signature $4,549.92 Space
Wagon 12/31/95 Pending)
R. Schultr
Streamside Open $24,384.76 Fire Protection
Tiga 01/01/94 $64,000.00 or Advertising Space
Advertising To (In Dispute) 55% of gross
12/31/99 revenue for
year
Snow 1/1/95
Removal To $6,112.05 Snow Removal
12/31 /95
LEASESCH.WK4
d~ a
d .
. TOWN OF VAIL MEMORANDUM .
T0: Robert McLaurin _
Council Members
FROM: Judy Popeck~ Y
U
DATE: November 15, 1994
RE: Investment Report
Enclosed is the investment report with balances as.of October 31,
1994.
On October 24th, a TBill matured for $62,000 and was used for the
final scheduled monthly payment for the police construction. Two
purchases were made for the pooled fund as follows:
TNote -$800,000 - 6.009% yield - maturing 10/31/95
TNote -$500,000 - 6.553% yield - maturing 9/30/96
The estimated average yield for the debt service fund was 5.59% and
5.25% for the pooled cash fund. Currently the yieid curve for 3
months, 6 months, and 1 year are 5.28$, 5.69%, and 6.11% , respeatively.
Please call me if you have any questions.
Q
~l Town of Vail, Colorado
Investment Report
Summary of Accounts and Investments
For the Month Ending October 31, 1994
Balances Percentage
10/31 /94 of Total
flNoney Market Accounts (see page 1)
Commercial Banks $212,638 1.32%
Money fiNarket Funds $823,774 5.10%
Colorado Investment Pools $838,165 5.19%
Total $1,874,577 11.61 %
Commercial Savings
Banks & Loans
Certificates of Deposit (see page 2)
Eagle County Institutions 0.00%
Other Colorado Institutions $297,000 $297,000 1.84%
National_ Institutions ~ 0.00%
Total $297;000 $297,000 1.84%
Percentage of Portfolio in Savings & Loans 0.00%
U.S. Government Securities (see page 3)
Treasury Notes & Bills $4,808,320 29.75%
GNMA's $82,572 0.51%
U.S. Savings Bonds $27,351 0.17%
Federal Agency Discount IVotes & Bonds $9,070,585 56.13%
To4al $13,988,828 86.56%
Total Portfolio $16,160,405 100.00%
NNaturing VVithin 12 Months $11,583,861 71.68%
fViaturing Wi4hin 24 Months $3,522,455 21.80%
MaturingAf4er24Months $1,054,089 6.51%
$16,160,405 100.00%
.
11 /15/94 ~
invsmjlp -
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Money Market Accounts
as of October 31, 1994
-For the Month of Qctober-
Institution Balances
Type of Accounts High Low Average 10131/94
COAAAAERCtAL BANK ACCOUNTS
, First Bank of Vail - Operating
Interest 4.110% 3.890% 3.950%
Balance ~ $809,475 $112,060 $385,252 $191.925
First Bank of Vail - Insurance
Interest 4.110% 3.890% 3.950% $1,050
Balance
Colorado National Bank Super Now Account .
Interest 2.65096
General Operating Account $19,663
Balance
Total Commercial Bank Accounts $212,638
LOCAL GOVERNAflENT INVESTAAENT POOLS
Colorado Trust Housing Bond Proceeds
Interest 4.470%
Balance $84,788
CSAFE - Bond Proceeds - Police Conshuction
Interest . 4.570% ,
Balance $187,570
CSAFE
Interest 4.570%
Balance $565.807
Total Local Govemment Investment Pools Accounts $838,165
MONEY MARKET FUNDS
First American Corp. Trust Treasury Fund Bond Reserve
Interest 4.137%
Balance . $15,605
First American Institutional Govt Fund - Dana Investments
Interest 4.518%
Balance $41,936
Fidelity Investment Government Money Market Accounts
Interest 4.380%
Bond Issue Reserve Account "
Balanee $280,607
Interest 4.750%
Operating Account
, Balance $485,626
Total Money AAarket Funds $823,774
Total all accounts $1,874,577
°'Account Subject to ArbiVage Rebate '
11/15/94 '
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Certificates of Deposit
t as of October 31, 1994
Bank iVame, Location Days to
Rates Purchase Maturity Maturity Maturity
Ins Coupon Yield Date Date at Purchase Value
BestBank, Thomton Colorado
FDIC 4.750% 4.600% 16-Feb-93 13-Feb-95 105 $99,000
Paonia State Bank, Paonia Colorado
FDIC 4.400% 4.250% 17-Aug-93 15-Feb-95 107 $99,000
Bank of Greeley, Greeley Colorado
FDIC 5.000% . 5.120% 16-Jun-94 16-Jun-95 228 $99,000
Avg Yield 4.657% $297,000
invcd10
11/15/941iP Page 2
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Govemment Securities
as of October 31, 1994
°°°Treasury Notes & Bills'••
Days to Days
Interest Rate Purchase Maturity Maturity to Book - Par
Type Fund Coupon Yield Date Date ' at Purchase Maturity Value Value
TNote Pooled 4.250% 4.340% 17-May-93 15-May-96 1094 562 $499,297 $500,000
TNote Pooled 3.875°r6 5.198°,6 05-Aug-94 31-Mar-95 238 151 $1,029,502 $1,035,000
TNote Pooled 3.875% 6.009°,6 13-Oct-94 13-Oct-95 365 347 $783,714. $800,000
TNote Pooled 6.500% 6.553°h 13-bct-94 30-Sep-96 718 700 $499,514 $500,000
TNote Debt Service 5.605% 06-Ju1-94 15-Nov-95 497 380 $1,343,552 $1,350,000
Zero Pooled 7.820% 21-Jun-91 15-Nov-95 1608 380 $652,741 $700,000
Average Yield 5.85°,U $4,808,320 $4,885,000
Average Days to Maturity 420 GNNAA'S•"•
Years to Estimated
Interest Rate Purchase Maturity Maturity Years to Principal
Pool Coupon Yield Date Date at Purchase Maturity Outstanding
5803 8.000% 8.480°h 14-Nov-86 15-Oct-05 19.10 11.00 $26,684
13003 8.000°,6 9.500% 24-Oct-86 15-Oct-06 20.20 12.00 $25,814
14659 8.000% 9.200% 24-Oct-86 15-Jan-07 21.20 13.00 $30,074
Avg Yield 9.061 % $82,572
°•`U.S. Savings Bonds"'
Years to
Issue Maturity Maturity Years to Book Maturity
Series Yield Date Date at Purchase Maturity Value Value
_ EE 7.170°,6 01-Oct-86 01-Oct-96 ' 10.00 ~ 1.92 $27,351 ^ $30,000
°"Federal Agency Discount Notes 8 Bonds"'
DayslYears to
interest Rate Purchase Maturity Maturity Years to Book Maturity
Agency Fund Coupon Yield Date Date at Purchase Maturity Value Value
FHLM Pooled 5.055°k 17-May-94 17-Nov-94 184 Days ~ $997,789~ $1,000,000
FNMA Pooled 4.885% 29-Sep-94 10-Nov-94 42 Days . $1,498,195 $1,500,000
FNflflA Pooled , 4.908% 01-Jun-94 29-Nov-94 181 Days $2,092,123 $2,100,000
FHLB Pooled 4.905°k 26-Sep-94 23-Nov-94 58 Days $2,512,409 $2,520,000
FDMC Pooled 3.992% 01-Mar-94 28-Nov-94 . 272 Days $498,552 $500,000
SBA Pooled - Dana 7.051 % 26-May-94 25-Mar-2008 13.8 13.4 $108,254 $109,734
FHLM Pooled - Dana 8.546% 28-Jun-94 01-Mar-2019 24.7 24.3 $64,116 $66,355
FNMA Pooled - Dana 7.528% 28-Jun-94 01-Oct-2017 23.3 22.9 $91,868 $97,572
FNflflA Pooled - Dana 6.731 % 29-Jun-94 01-Jun-2014 19.9 19.6 $99,645 $110,531
SBA Pooled - Dana 7.567% 29-Jun-94 25-Feb-2008 13.7 13.3 $82,130 $82,749
SBA Pooled - Dana 6.778°,6 29-Jun-94 25-Jun-2019 25.0 24.7 $107,780 $108,523
SBA Pooled - Dana 6.646°r6 18-Aug-94 25-Ju1-2008 13.9 13.7 $109,731 $109,875
SBA Pooled - Dana 7.567% 29-Jun-94 25-Jan-2008 13.6 13.2 $108,571 $110,088
FNMA Pooled - Dana 7 .814°,6 27-May-94 01-May-2020 25.9 25.5 $91,133. $100,577
SBA Pooled - Dana 7.975% 12-Ju1-94 25-Jun-2019 25.0 24.7 $108,289 $108,744
FHLM Pooled 4.560% 4.560% 03-Jun-93 03-Jun-96 3.0 1.6 $500,000 $500,000
. $9,070,585 ~ $9;124,748
Average Yieid 5.12%
Average Years to Maturity 15 Total $13,988,828
11/15/94 '
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TOWN OF VAIL
75 South Froiitage Road
Yail, Colorado 81657
303-479-21 DO
FAX 303-479-2157
1VTEMORANDUM
TO: Vail Town Council
Town Manager -
Department Heads
FROM: Steve Thompson ~
DATE: December 1, 1994
RE: Third Quarter Financial Report
Enclosed is the Third Quarter Financial Report with estimates of revenues and expenditures as
compared to budget.
REVE1VUES
We are estimating sales tax collections to exceed the budget by approximately $420,000, and be
5.2% greater than the 1993 sales tax collections. We estimate collecting $2.3 million in Real
Estate Transfer Tax revenue, which is $1 million over budget. This is the most we've ever
collected in RETT revenue in one year.
We are watching parking revenue and lift tax revenue closely to see where they end up.
E%PENDITd1~S
Several departments are projecting savings. However, we have not tried to estimate the exact
amount of savings each department will have.
FUIVD BALANCES '
The Capital Projects and Real Estate Transfer Tax Funds will end the year with higher than
expected fund balances. This is primarily due to deferring projects ($4.3 million in Capital
Projects) until 1995 or later.
Please call me at 2116 if you have any questions.
° 1'OVVId OF VAIL
~
9994
SUMAflARV OF REVENUE ABVD EXPENDITUFiES,4ND CHANGES IN FUND B,4LAYVCE
Actual Estimated Estimated Transfers Estimated
Fund Balance Revenue Expenditures In/(Out) Fund Balance
Fund Type/Fund 1993 1994 1994 1994 1994
General Furac9 3;U98,594'' 14,693,000 15,295,446 (30,000) '2;466;148_
Special Fievenue Func9s: = - '
Capital Projects Fund 2;804,664• 9,336,260 4,056,359 (2,954,940) 5,129;625
Real Estate Transfer Tax Fund 2;859,967' 2,400,359 3,740,104 ;1,520;2Z2:
Police Confiscation Fund 349,~41;; 62,000 236,635 175;006
Vail Marketing Fund ;~34,485) 582,250 546,980
Vail Housing Fund 35,000 80,000 30,000 845,197
Bond Proceeds Construction Fund 2;;357,740 ` 40,000 2,631,765 (234025)
Infepnal Servoce Funds•
x
Heavy Equipment Fund.481,297`1,597,371 1,562,374 `516;294
Health Insurance Fund '662,808 1,002,981 942,860 7'~;g2g
Enterprise Fund:
Parking Structure Enterprise Fund 1,909,462 1,836,624 2;838,
Debt ServiCe Funds• ,
Town of Vail Debt Service Fund 1;8~2,701: 174,678 3,129,618 2,954,940 ,1,852,7fl1;
Booth Creek Debt Service Fund `49 546' 94,542 116,856 ;igz
Total 15,342,630 31,927,903 34,175,621 0 13 094;912
2QTRFIN2 PAGE 1 12/01/94
!
. : . .
TOiNN OF VQ1L , , .
. 1994 THlRD,QUA;RTER'FINANCIAL IREPORT ,
; , .
;ESTlMATES;T4:,YE,AR
;
-
; : ° . 1';99~ ` y 99~
UARIANCE
GENERAL FUND REUENUE BU;DGET. ESTIMATE •;~VERI UNQER
Taxes
~ Property & ownership Taxes 2,279,218 2,290,000 10,782
Retail Sales Tax 8,043,374 8,311,696 268,322
Ski lift Tax 1,041,863 1,000,000 (41,863)
Franchise Fees 5:57,878 527,500 (30,378)
Penalt & Interest .44,000 37,000 (7,000)
Subtotal Taxes 11,966,333 12,166,196 199,863
Construction Fees 4 286,830 450,000 163,170
Licenses Permits 47,100 49,000 1,900
Charges for Services 218,404 230,179 11,775
Intergovernmental revenue 985,985 1,074,000 88,015
Fines & Forfeitures 26) 0,67,1i 273,625 12,950
Transfer from Parking Structure Fund 86,3211 0 (86,321)
Other 315,154 450,000 134,846
TOTAL GF REVENUE 14,166,8012 14,693,000 526,198
19194 199~, VARIANCE . ;
GEN,ERAL F.UNO `EXPENSES : .BUDCET . ESTIIViATE OVER/ UNaER
Town Officials_ 1,555,179 1,555,179 0
Administrative Services 1,444,188 1,444,188 0
Community Development 1,035,3012 1,035,302 0 Police 3,1 41,5412 3,141,542 0
Fire 1,183,284 1,183,284 0
Public Works 2,502,925 2,502,925 0
Transit 2,1 145,104 2,145,104 0 VMRD Contract 5,43,243 543,243 0
Library 6-79,50 T 679,507 0
Insurance 316;785 316,785 0
Transfer to the Parking Structure Fund 0 0
Contributions & Events 7i50,478 760,478 0
Em lo ee Benefits 17,909 17,909 0
TOTAL GF EXPENDITURES 15,325,446 ) 15,325,446 0
SURPLUS/(SHORTFALL) (632,446)
2QTRFIN2 PAGE 2 11/30/94
0
L '
,
` 1994 1994 _
VARlANCE
CAPiTAL.PROJECTS>REVENUE. : BUDGET ESTlMATE. OVERI UNDER
Retail Sales Tax 4,575,893 4,728,304 152,411
County Sales Tax 206,910 201,000 (5,910
Ski Lift Tax 1,041,863 1,000,000 (41,863
Grant Revenue 376,000 376,000
Reimb for Projects 31,000 31,000
Earnings on Investments 148,500 180,000 31,500
RETT Loan Re a ment 947,956 2,819,956 1,872,000
TOTAL REVENUE 6,921,122 9,336,260 2,415,138
20TRFIIV2 PAGE 3 11/30/94
!
.1;994 - .VARlANCE
; .
CAPITAL:PROJECTS FUND`EXF:.: BUDGET ESTIMATE:::OVER/ UNDER
Street Maint & Improvements * 924,463 374,463 (550,000
Ice Arena Pedestrian Chute ` 70,000 5,000 (65,000
Street Light Improvement Program 51,313 51,313 0
Pulis Bridge Construction 75,000 30,000 (45,000
International Bridge Replacement 2,550 300 (2,250
Chapel Bridge Restoration 503,000 503,000 0
Covered Bridge Restoration * 132,700 40,000 (92,700
Town Shop Improvements * 1,785,706 30,000 (1,755,706
Slifer Fountain Repair 2,402 2,620 218
Bus Shelter Imp & Replace 51,050 40,000 (11,050
Emergency Building Maintenance 25,000 25,000 0
Drainage Improvements 120,049 22,000 (98,049
Library Book Drop 1,559 1,559 0
East Lionshead Bus Stop 60,000 60,000 0
Parking Structure Landscape Contingency 21,1981 0 (21,198
East Vail Interchange Landscaping 20,284- 9,654 (10,630)
Police Department Space Expansion 64,073 64,073 0
West Vail Development Plan 180,000 180,000 0
VTC Community Improvements 25,363 168 (25,195,
Electric Raceway & Carpet @ Library 35,000 35,000 0
Town Manager Residence 10,250 5,600 (4,650
Comm Sys Maint. & Replace 6,669 6,669 0
Replace Mobile Fire Radios 2,119 2,119 0
Town of Vail Bus Grant Lobbyist 45,651 45,651 0
Regional Bus Grant Matching Expense 59,00() 53,057 (5,943
Backflow Prevention 25,00() 22,000 (3,000
News Paper Dispensers ` 17,000 0 (17,000
Snow Dump Site' 95,573 455 (95,118
Shmetzco Berm 3,098 0 (3,098
Retrofit Buses W/ Perimeter Seating 19,348 18,788 (560
Bald Mountain Bus Stop (Additional 20k Req) 87,194 87,194 0
West Vail Mudslide Mitigation 1,360 0 (1,360
Village Loading Design 5,067 5,067
Pay-on-Foot Lane VTRC 21,899 21,899 0,
Replace LH Equipment 115,001) 115,000 0
Street Furniture Replacement 41,7613 22,000 (19,766
Pedestrian Overpass Walkway 6,623 7,549 926
Misc. Heavy Equip Vehicles 115,00,0 115,000 Q
Second Radio Channel 4,590 4,590 Q
Automate East Vail Interchange' 9,900 0 (9,900
Main and West Vail Interchange fmprovements' 1,530,600 120,000 (1,410,600
ADA Improvements 93,354 40,000 (53,354
Replace Siding on Muni Building 26,000 18,067 (7,933
Transfer to Debt Service 2,954,940 2,954,940 CI
Purchase Land - Trappers Run 1,872,000 1,871,504 (496
TOTAL EXPENDITURES 11,314,644 7,011,299 (4,302,849
SURPLUS/(SHORTFALL) 2,324,961
* This Project Will Not Be Completed in 1994
20TRFIN2 PAGE 4 11/30/94
~
~ .
1994 .159~ ' VARIANCE.:::
°~RERL.ESTATE l'Ri4NSFER TAX BUDGET . ESTINlAT.E :OVER/ UNDER
REVEIVUE
RETT Taxes 1,350,000 2,150,000 800,000
Golf Course LeaseNRD 86,000 86,609 609
Recreation Amenities Fees 30,000 50,000 20,000
Lottery Revenue 13,750 13,750 0
Earnin s on Investments 58,500 100,000 41,500
TOTAL REVENUE 1,538,250 2,400,359 862,109
EXPEIVDITURES
Debt Senrice on Golf Course 340,432 340,432 0
Loan Repayment 2,819,956 2,819,956 0
Miscellaneous 500 1,111 611
Projects:
Bighorn Park Completion 9,803 24,000 14,197
Vail Trail Safety 2,200 0 (2,200
Gore Creek Promenade 38,697 42,195 3,498
VVest Vail Bike Path 188,793 25,000 (163,793
Dowd Junction Bike Path Design 8,000 15,000 7,000
IVlaster Open Space/ Rec Trail Plan 1,003,196 25,000 (978,196
Frontage Road Bike Path 142,879 11000 (141,879
Park Maintenance 170,393 141,000 (29,393
Rec Path Maintenance 136,868 105,000 (31,868
Sandstone Park Improvement 14,297 12,930 (1,367
Dowd Junction Land Improvement 8,512 0 (8,512
TOT Lot Access Paths 26,719 1,340 (25,379
Pirate Ship Park 41,242 653 (40,589
Covered Bridge Pocket Park 12,000 487 (11,513
Ford Park Stairway 30,902 10,000 (20,902
Alpine Garden Contribution 5,000 5,000
Mill Creek / Ted Kindel Park 160,000 170,000 10,000
TOTAL RETT EXPEfVDITURES 5,155,389 3,740,104 (1,415,285
SURPLUS/ SHORTFALL (1,339,745)
2QTRFIN2 PAGE 5 11 /30/94
v
J
,
. ,
1994 : 19.94 VARlANGE.:!.
HEA1[Y EQWIPtIENT FUND : BUDGET ESTINIATE; OVER/ UNDER
REVENUE 1,582,910 1,597,371 14,461
EXPENDITURES 11592,122 1,562,374 (29,748
SURPLUS/(SHORTFALL) 34,997
VARtANCE :
. „
-
PARKING STRUCTURE OP:ERATIN('a f UND .;BUDGET `:EST'IMATE , OVER/ UN_DER
REVENUE
Daily Parking Revenue 1,547,000 1,374,000 (173,000)
Passes & Coupons 397,750 377,750 (20,000
Lease Revenue 89,01 E; 82,712 (6,304
Parking Assessments Cl 75,000 75,000
Transfer from the General Fund 0 0
TOTAL REVENUE 2,033,766 1,909,462 (124,304
EXPENDITURES
Operations & Capital 1,421,825 1,304,887 (116,938
Debt Service 531,737 531,737 0
Transfer to General Fund 86,321 (86,321
TOTAL EXPENDITURES 2,039,8819 1,836,624 (203,259
SURPLUS/ (SHORTFALL) 72,838 ~
. NCE; :
1994 1994 " V}~RiA
MARKETING FUND BuDGET.. ES.f'IMATE. _OVERI UfVDER
REVENUE
Business Licenses 345,00() 357,000 12,000
TOV Marketing Fund 149,500 0 (149,500
Other Marketing Contributions 140,001) 220,250 80,250
Earnin s on Investments 5,000 5,000 0
TOTAL MARKETING REVENUE 639,500 582,250 (57,250
EXPENDITURES 609,501 546,980 (62,521
SURPLUS/(SHORTFALL) 35,270 ]
. 20TRFIN2 PAGE 6 11/30/94
~ . ,
;
994 ;i ' .1:994 . VARtANGE:::
P(JLICE:;CONFISCATION FUND ; ;B.tJqGET ;:ESTINIATE:.. b.V,ER/ UfVDER
REVENUE
Confiscation Proceeds 10,000 50,000 40,0001
Earnin s on Investmenis 12,000 12,000 0
TOTAL PCF REVENUE 22,000 62,000 40,000
EXPENDITURES 236,635 236,635 0
TOTAL PCF EXPEfVDITURES 236,635 236,635 0
SURPLUS/ (SHORTFALL) (174,635)
2QTRFIN2 PAGE 7 11/30/94
,
TOWN OF VAIL ~COUNCIL CONTINGENC,Y
1994
Contingency Special Unallocated
Funds Events Marketing
~ Funds
Original Budget Amount $50,000 20,000 149,500
Uses:
Sister City Trip - January 3,753
99 World Championship Bid Gifts 1,797
CML Conference (Allocated in 1993) 3,378
Buck Allen - 15 Year Award 500
Council Retreat 6,064
Colorado Film Commission 500
U.S. Ski Team Contribution, Chad Fleischer (Paid in 1993) 2,500
Bear Proof Garbage Cans (Allocated) 3,000
Colorado Children's Chorale 500
Sister Cities Exchange (Estimate) 6,500
Summer Airline Promotion ($40k Committed) 40,000
St. Moritz "Vail NighY" Presentation (Estimate) 2,760
VVF World Ski Championship Training 50,000
Bike Maps Second Edition '11,500
John Horan Kates Sister City Facilitator ($2,000 in 1995) 3,000
Retirement Gifts 3,000
Colorado Ski Museum Corporate Table 500
Nutcracker Ballet 1,000
Vail International Celtic Festival (Bagpipes) 10,500
TOV Library - Family Children's Theatre (1995) 500
Lyndon Ellefson - Fila Skymarathon Final 500
Chad Fleischer 1,000 4,000
Festival of Lights 50,000
Total Amount Used 29,492 20,000 149,260
Total Amount Left $20,508 $0 $240
CQUCON94 PAGE 8 ' 11/30/94
M p p pnn p /~~OpG
~~p WfY Y~~WLLE OYy DEP4°a Otlp~ YTYVOENY~P SYVV.RIS
~
Savings Savings Savings
Balance Used Balance
12/31 /93 1994 12/31 /94
General Fund:
Muni Court 5,643 5,643
Town Nianager 42,491 32,700 9,791
Admin Services 26,617 7,500 19,117
Community Relations 6,475 2,077 4,398
Community Development 80,065 67,162 12,903 Police 28,883 28,883
Public Works/Transportation 116,341 48,956 67,385
Library 6,828 6,828
Total General Fund 313,343 158,395 154,948
Fleet fViaintenance 24,756 2,456 22,300
2QTRFIN2 PAGE 9 12/01/94
TOWN OF VAIL "
SCHEDULE OF 1994 SUPPLEMENTAL APPROPRIATIONS
ADDITIONAL
P ROJ ECT 1994
No. EXPENDITURE OR PROJECT E=XPENDITURES
GENERAL FUND:
Administration:
Cost Accounting Software for Public Works " 7,500
Replace Canopy Tents for Street Entertainment ' 1,000
Property & Liab Insurance Increase 55,633
Additional Recruiting Costs 23,000
Trappers Run Closing Costs and Consulting 34,000
Range Compression Adjustments 1,076
Correct Fire Safe Amount ' (623)
Coin Changer ' 1,700
VA & Avon Sister City Contribution 2,500
Court Appointed Council 2,000
Community Developmenf:
Range Compression Adjustments 2,478
Planner 1 New Position 14,500
Furniture and Carpet for New Planner * 2,638
Police Department
Ford Park Special Events Shuttle (Revenue) 961
Range Compression Adjustments 20,081
Fire Department
Haz Mat Reimb (Revenue) 2,734
Range Compression Adjustments 15,915
Grant Pass Tiiru 48,391
a
Public Works:
Range Compression Adjustments 7,792
Correct Prior Amendment - Used Wrong Fund ` (6,402)
Transportation
Special Events Shuttle (Revenue) 29,666
Eagle, Gypsum Shuttle 8,850
Library
Range Compression Adjustments 190
Grant Revenue 45,000
SUBTOTAL: GENERAL FUND 320,580
' Department Savings Was Used.
2QTRFIN2 PAGE 10 12/01/94
CAPITAL PROJECTS FUND:
VA Reimbursement for Overlay Cost (Revenue) 31,000
Subtotal: Projects Fund 31,000
REAL ESTATE TRANSFER TAX FUND
Reimb by CDOT for West Vail Work 19,743
PARKING STRUCTURE FUND:
Computer Equip * • 5,402
Property & Liab Insurance tncrease 715
6,117
HEAVY EQpUIPfl1iENT FUND:
Auto Body Repair Revenue (Revenue) 62,000
Computer Equip * 2,816
Property & Liab Insurance Increase 3,915
68,731
VAIL HOUSING FIDND
Purchase of Potato Patch Unit 50,000
BOOTH CREEGC DEB'f SERVICE FUND
Debt Service Generated by Assessments 75,000
CaRAND TOYAL 571,171
2QTRFIN2 PAGE 11 12/01/94
Town of Vail
Sales Tax Estimation Worksheet
11/25/94
cnenye % cnenoe
1894 IYom Irom
MOI1tF1. 1983 1984 1995 1986 1887 1988 1989 1990 1991 1992 1993 Budyet EsUmate Vartance 1893 Budyet
~
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January 696,752 742,262 881,304 890,585 1,063,196 1,126,496 1,465,870 1,599,123 1,713,091 1,709,654 1,855,3641 1,892,100 1,804,282 (67,818) -2.75°h 4.64%
February 751,856 824;650 918,154 946,552 1,135,786 1,205,101 1,561,286 1,695,850 1,737,343 1,780,568 1,828,766 1,866,900 1,813,070 (53,830) -0.86°,6 -2.88%
March. 977,828 1,084,814 1,187,520 1,316,652 1,378,782 1,591,705 1,939,758 1,897,718 2,051,820 1,977,995 1,988,0901 2,030,900 2,249,232 218,332 13.14% 10.75°h
A ril 319,546 481.204 531,668 430,877 425,961 550,205 567,684 634,174 616,648 691,163 864,303 883,000 792,884 (90,116) -8.26% -10.21%
May 156,588 166,200 162,912 2441987 245,518 170,567 215,548 236,359 250,809 268,000 257;248 264,900 285,530 20,630 10.99% 7.79%
June 257,744 262,696 280,828 361,627 331,581 329,039 393,470 448,227 468,948 468,598 475,1611 479,300 547,128 67,828 15.15% 14.15°,b
~ July 407,474 406,462 447,815 479,507 479,201 559,683 649,139 665,094 737,288 742,750 811,538 832,500 889,730 57,230 9.6496 6.87%
:n
(D August 384,338 402,792 386,985 512,513 536,904 575,887 668,119 676,071 761,992 767,257 825,954 845,200 887,331 42,131 7.4396 4.9896
N September 324,670 384,864 340,102 374,060 442,402 422,502 469,032 482,328 491,684 485,954 560,535 567,600 713,266 145,666 27.25% 25.66°h
October 198,614 206,248 209,282 237,504 273,951 291,204 335,740 364,002 324,802 367,578 400,525 403,700 383,237 (20,463) -4.32°b -5.07%
,
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I.
TCTAL 4,475,410 4,962,192 5,346,570 5,794,864 6,313,282 6,822,389 8,265,646 8,700,946 9,154,425 9,259,517 9,867,484 10,066,100 10,365,690 299,590 5.05°,6 2.98°h
y ~i .1 ~ t 't f ~ t
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. •.i.:. ~
. . . . . . . . . . . . . . . . .:e'..,.
November 281,704 310,588 229,083 376,657 386,270 376,235 430,820 438,731 428,086 497,907 553,6811 555,000
December 853,100 906,758 905,955 1,167,280 1,245,612 1,455,948 1,615,278 1,625,219 1,691,775 1,846,223 1,974,553 1,993,167
Y
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y ~ ~~:;E
~ . . , , ~ . . . .
. . . ...:..n ~i. ~ d ,
Total 5,610,214 6,179,538 6,481,608 7,338,801 7,945.164 8,654,572 10,311,744 10,764,896 11,274,286 11,603,647 12,395,718 12,614,267 10,365.690
i„ - .
TOWN OF VAIL
REAL ESTATE TRAIVSFER TAX
HISTORY 1980 TO 1994 1980 1981. 1982 1983 1984 1985 1986 1987 1988
ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL
JANUARY $63,999 $98,089 $106,981 $119,972 $78,053 $80,733 $101,374 $131,916 $96,119
FEBRUAR $40,595 $69,018 $105,024 $132,220 $86,289 $170,052 $64,906 $44,040 $109,873
MA R C H $69, 886 $126, 935 $109, 533 $137, 820 $62, 693 $63, 831 $92, 557 $38, 791 $68,104
APRIL $76,855 $94,653 $65,900 $103,526 $173,321 $90,396 $182,743 $95,554 $179,671
MAY $42,738 $84,324 $54,663 $90,599 $96,006 $228,673 $98,65.1 $120,984 $99,736
JUNE $62,239 $125,433 $54,488 $140,638 $76,467 $49,513 $79,915 $73,509 $101,364
J U LY $49, 367 $186,110 $104, 262 $68, 539 $157, 598 $88, 528 $70, 441 $47, 949 $126, 537
AUGUST $79,859 $115,499 $71,282 $97,806 $58,937 $32,860 $100,182 $61,137 $109,315. =
S E PT $59, 800 $113, 992 $49, 332 $96, 746 $64, 671 $48, 516 $108,167 $78, 819 $116, 557
OCTOBER $108,510 $154,000 $42,498 $122,546 $88,732 $109,633 $93,860 $124,291 $1771360
NOV $102,623 $107,768 $81,698 $91,385 $105,109 $74,909 $89,047 $114,839 $241,888
DEC $142,662 $133,867 $110,911 $56,533 $81,890 $333,139 $106,695 $95,495 $192,947 ¢
a
TOTAL $899,133 $1,409,688 $956,572 $1,258,330 $1,129,766'$1,370,783 $1,188,538 $1,027,324 $1,619,471
1989 1990 1991 1992 1993 1994
ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL RESALE TMSHRE OTHER
JANUARY $309,232 $162,954 $165,141 $88,238 $179,188 $220,453 $219,156 $1,289 $8
FEBRUAR $140,192 $133,085 $71,413 $110,960 $141,960 $240,702 $239,350 $1,330 $22
MARCH $145,957 $77,995 $183,698 $116,626 $178,032 $87,542 $86,155 $1,271 $116
APRIL $151,069 $152,027 $108,040 $213,245 $107,475 $223,569 $222,432 $984 $153
MAY $220,299 $167,972 $96,994 $142,817 $189,742 $82,092 $79,603 $2,333 $156
JUNE $122,466 $136,364 $141,863 $138,852 $112,847 $174,923 $172,872 $1,232 , $819
JULY $125,676 $75,169 $132,042 $95,373 $168,959 $78,419 $77,524 $889 $6
AUGUST $86,347 $77,486 $99,820 $91;695 $145,035 $126,988 $126,322 . $565 $101
SEPI" $143,306 $75,746 $85,645 $132,331 $195,685 $262,758 $258,184 $2,011 $2,563
OCTOBER $241,393 $118,986 $258,974 $179,094 $180,475 $274,475 $273,547 $922 $6
N OV $165, 964 $102, 210 $268, 394 $240, 933 $176,174 $420, 408 $419, 081 $1, 239 $88
DEC $192,737 $107,880 $95,742 $441,832 $202,004 $0
TOTAL. $2,044,638 $1,387,874 $1,707,766 $1,991,996 $1,9771576 $2,192,329 $2,174,226 $14,065 $4,038
'
v,
PLANNINC AND ENVIROPlMEN'TAL COIIAMISSION
~ November 28, 1994
AGEIVDA
Proiect Orientation/Lunch 12:00 p.m.
Site Visits 1:00 P.M.
Serrano's
Mountain School
Drivers: Andy and Randy
Public 9iearinq . 2:00 p.m.
1. A request for a density and GRFA variances to allow for the conversion of the Fulton
Ironworks Restaurant to a residence to be located at 1136 Sandstone Drive, Units A-
109 and A-110/Homestake Condominiums.
Applicant: Karen Bouchard
Planner: Jim Curnutte
2. A request for a wrorksession for a major exterior alteration in the Commercial Core I
zone district and site coverage, stream setback, density (GRFA) and loading and
` delivery variances and a request for conditional use permits to allow for an outdoor
dining deck and to allow for office use on the third floor to allow for the redevelopment
of Serrano's located at 298 Hanson Ranch Road/Lot C, Block 2, Vail Village 1 st Filing.
Applicant: Margretta B. Parks and Vail Associates, Inc.
Planner: Andy Knudtsen
3. A request for an amendment to Section 17.26 of the Town's Subdivision Regulations -
Condominiums and Condominiums and Conversions.
Applicant: Town of Vail, represented by Tom Moorhead
4. A request for a change to the Land Use Plan from Park (P) to Low Density Residential
(LDR) for a parcel owned by the Vail Valley Consolidated Water District, located at 967 .
Vail Valley Drive/Tract C, Vail Village 7th Filing.
Applicant: Vail Valley Consolidated Water District, represented by Pat Dauphanais
Planner: Jim Curnutte TABLED TO DECEAABER 12,1994
5. A request. for a site coverage variance and a conditional use permit to allow for an
expansion at the Vail Mountain School located at 3160 Katsos Ranch Road/Part of Lot
12, Block 2, Vail Village 12th Filing.
Applicant: Pam Hopkins, representing the Vail Mountain School
Planner: Randy Stouder TABLED U1VTBL DECEMBER 12, '9994
1
6. A request for a conditional use to allow for an expansiori to the existing liquor store
{ocated at Cascade Crossing, 1031 South Frontage Road We-st/an unplatted parcel
north of the Glen Lyon Office Building.
Applicant: William Van Schneidaw
Planner: Andy. Knudtsen WITHDRAw?N
7. Approve minutes from November 14, 1994 PEC meetincl.
8. Council Update:
•Dan Frederick appeal. 9. Steering Committee/Task Force Update:
•Vail Commons.
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A
a
VaH Asso~iates9 W.
Noveffiber 21, 1994
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Mayor Peggy Osterfoss
'd'own of Vaaafl
75 South ]Frontage dtoad
Vail, Colorado 81658
Dear liqayor Osterfoss:
Ian coainection with the ongoing dascussions between t1ae 'Il'own of Vaal and Vail Associates
concerning our collective efforts toward managed growfh, we are pleased to respond to
the Town's specific requests presented to us.
lEarst ancl foremost, Vail Elssociates as pleased to demonstrate our commitment and oaar
ciedicataon to the completion of the roundabout projects liy agreeing Bo ffiake a$500,000
contribudon toward such projects. VVe would propose to deposit $he entire amount off
such contributaon into an escrow, upon the #`inaY approva9 of the rlesign and constructaon
off the ffiain `'aii roundabout aaid the deaelopment ancl ianplementation of a financing
. plann ffor same. Periodic disbursements would be anade from sucla e.scrow as constnaction
progresses. Such contribution represent.s our commitaxent towarcl solving what the
Town, Vail Associates, experts, guests and resident.s aYl percefve as the anaim.traffic ancfl
owners and operators o/ carcaglataon assue which is viewed as a qualitative detrac#ion from the Vafl experiencea
Vai/, Beaver GeekResort W~ feel so strongly about this project that we are umwilliaig to agree to any alternative or
andArrowheadMountain "back_up" use of thas contribu'on. We aLso feel ghat at as important that the Town ancl
Vaafl Assocaates solicit and encourage other financiafl saapport for the roundabouts beyond
tlaat of Vail Associates and the Towna
Ian response to ghe requested conveyance to the 'g'own by Vail Associa4es of green belt
space and/or stAeam Qracts, we are looldng into the various parceDs that remain under
oanr ownership. ,As sQated aY the October 20 naeeting, Qtie Town reanains ainclear as to
which specific parcels need to be addressed. We walg continaae to work witla the 'g'own to
cYeteranine those parcels that yoia would like to have deeded to you fronn Vaifl Associates.
lFrom that deteamanation, we wilY be able to fully aciciress your xequeste Obvaously, anY
parceLs deeded vvilY need 4o be progerly made peraxaanent open space, with adequate
reservations off necessaay Vail Associates developmental and other night.s.
VaiI Elssociate.s contanues to suppork the concept of gnerchaait and student passes;
however, it as ainpossible f'or us to com8nit uaow to a sgecifac perpetiaafl gercentage
discoaaxxt for the programs. We wilfl contanue to address these programs on amm annual
basas, with a clear uaaderstanding of the importance with whicfla the coffimunity vfews
these programs.
~
1119%WHLDAVIN! '
S[1 CNAq/10\'fNl1f
TU1 111.112 Ctf f [
<.L .1, o0 PO Box 7 > Vail, Colorado a 81658 . phone 303 476 5601
. ~
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Mayor Peggy Osterfoss
November 21, 1994
Page 2
In response to your request for a contribution to additional parldng structures, Vail
Associates will agree to offer future participation, to the extent of Vail Associates' "fair
share," in connection with the Town's reasonable endeavors to iimprove the existing
winter parking situation, if circumstances change so that additional parlflng is nec.essary
due to increased slder numbers.
Vail Associates strongly supports the concept of express x?us service from Edwards to
Vail. However, we believe that this should continue to be addrESSed and funded at the
County level, which, as you lnow through your efforts, is now ]happening.
Leases of Pirate Ship Park and the Lionshead Tot Lot can be piut in place. Obviously,
Vail Associates will need to reserve any necessary tlexibiliity, including the right to
relocate the parks to other locations if development or slfli-related needs dictates such
requirement.
Vail Associates will be happy to designate a"point persont" to help research and aid in
developing park and ride sites throughout the Vail Valley in a joint effort with th-e Town
and the Regional Transit System. We feel, however, that the incremental proceeds from
the 4% lift tax slnould cover any costs incurred in connection with this endeavor.
With regard to housing, and as more specifically addressed in the proposed managed
growth Agreement with the Town, Vail Associates remains fully committed to continue to
work with the Town and others to satisfy the continued demand for affordable employee
housing.
I hope that the foregoing gives you an understanding of N'ail Associates' reasoning
regarding the Town's requests. Please feel free to follow up witlh us on any of tbese
items.
While addressing the Town's requests, we feel it appropriate to iraise with you certain of .
our concerns which we feel should also be addressed at this time.
We would request the Town's cooperation and coaceptual support with regard to the
upcoming approval process for the Golden Peak redevelopment. We ask that the Town
conceptually support Vail Associates' proposal, including any necessary aoning changes.
We feel that the improvements to the Golden Peak portal, incluclling the improvement of
the parlflng system, are fully consistent with the Town's efforts Y.o alleviate the pressure
A ti!
o a ~
IVgayor Peggy Osterfoss
November 21, 1994
&'age 3
on the maixi pariflng structure and Bridge Street.
lFinally, F'orest Road 'as presently being addressed. V6'e woailcl like to see the Town's
efforts in support of the trade of the shopyard for the snowdump lot. Imm the best anterest of the communat;y, Vaii Associates would be willing to re-roeate the sno`vcat route at a
shared expense witla the Town and other affected parties, wath eeeayone payang thefr
"fair share."
Thagnk you ffor your patience as we have researchec? these ftems. We are hapPY to spend
anore ti}ne with you nn discussing aaay off the foregoing subjects.
Sincerely,
0' AIL., L"n~7JO'L1LtA llJGSy 1LLV'1.. .
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~ ilrew P. Da9y, Pxesident
APD.jab
h:UuHerkrespoa9e.ur
$8
I)RAF'r ° 11/21/94 ,
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DISCUSSION DOCUMEPt',r
TOWN OF VAII~/VAIL ASS0CIATE;S
gROGRM TO MANAGZ pEpK I?ERIdDS
1. IntrQSiuction.
The Town of Vail ("TOV'I) and 11ai1 Associates
("VA") both recognize the importance of providing Vail's
guests and residents with the hiqhest: quality
experience.
As part of tkiis goal, TOV and VA are strivfng to
bettAr balanco the levels of visitation amonq and within
the different 8easons so that Vail ca.n become a more
year-round resort. On the one hand, it is flormal to see
peak periods durinq Christmas, Presid,ents' Wee}cend, and
the 4th of July Weekend when the carrying capacities of
the community and tho mountain are occasionally pushed.
Sometimes these peak periods are accompan:ied by a high
influx of c;ars, traffic, and parking prab:tems a]Ll of .
which can compromise the quality ot the Vail experiencea
On the other hand, there are periods of low to moderate
use when the infrastructure, employment b<sse, aricl
economic opportunities of the community are
unaerutilized.
' Thus, one of tha key challenge,s for TOV mnd VA
will be to amplement a serfas ot mnnaigemerit, marketing,
and developmant tachniquos $n a coord,inatESh cashion to
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e ~ o
help promote skier visitation during tlie norapeals
periodso Essential to this and'wilb be Category 11I,
wlhich would ensure more reliable early and gate seasons
for the commuazityo Ag the s$me time, TOV and VA wilg
aaeed tA eg~sure generally that the carryinq capacaty ot
Vai1 (hex°e.inaggeb^ e0the commursityee' mrad Vail Mountain
(hereinafger 00the mountain°A ) are not exeeeded durbng
peak dennand.
TOV and VA have made notable strides in past
years ga better control and manaqe such peak day
eacperf enceso The acguag number of peak days has
decline~ durinq gecent years aBacl the gxowth whicta has
occ=ed has beega contained in traditianally nonpea3c
seasonso Certagn proqrams have helped to ease the
impacts of tgaggic and parking (eego o the Hogiday
Tgansportagion and Pagking Pgan) or to ensure more
.
comfortable skiineg on the Mouata9,n VA°s °Bmanage
g~~ skier capacagy pgocjramD a
Bubg~ing on these past measuresoTOV and VA g~ow
wish t~ expand uad gormagize t,taeir onqoinq discussioa~s
throug~ ~ ~ore coffiprehensiva ~eak and norapeak ageaaent
pgan 4.~~~ wibl ensure thag community carryia~g capaciti~~
~~e nAt exceededo Such a pgaLn cauld be incarpArated
wgLhiaa the qeaa~~al pmaasage to" fraaework ttaat h$s beeaa
used by the k~~~~~~ ~ervaceo TOVa and VA aa p~ ~f VA°s
1986 Speciag ~ermito And such a p1an wgll prove to
_ 3
be complementary to the successtul ia?plamentation of
Category III which has the backinq and support or TOV
and VA.
A. Predictinar Peak and Hiqh Use Rpriq~.
Pradict3nq peak periods and manaqing the :Lmpacts
associated with visitor use is often comp]licated by
factors which are beyond TOV and VA's coni:sol.
Urtpredictable weather, traffic accide;nts, unxeliable
snow conditions, and other events can comprcmise the
visitos experience in spite of the beist laid plans.
Nevertheless, based on past experienci:s, 3'OV and vA are
in a better positian nov to anticipatEa peak eisitations
(both on the Mountain and in the Town) and to manage
these periods to the satisfaction of cruests and
res3dents alike.
Past experience has shown that the time period
maet likely to reach peak visitation c?ccurs between
December 26 and December 31o in addit:ion, greater than
averaqe (phiqh usea) visitation also occur,s on
Prasidentat Weekend and on aome weeken.ds biatween the .
third week og February throuqh the end of 1Niarcho
B. ffeasurina Peak and High Use period,g. As a
general matter, the number of "skiers-at-one-time01
(10SAOT") has been a good benchmark Por preciicting when
carryinq capacity is exceeded.
o o
Becaus'e VA h~~ excelleaag pasg geCOrds reqarding
skieg visigs and now can tgack sk~~r numbegs on a
relagively instaaaganeous basis (through its bar cAdfng
mysgem) o SAOT is a convenieaato usualgy reliabge
j.ndicagoro T6V and VA recogniae thag SAOT wigg aaot
always reglecg community impacts and thus occasiona],ly
aauet be weigtaed with other relevant factorso For
exampgQ~ gf a majag conventiong a world chaaapionship
evenga or ogher special event were tA occur during tae
aaonpeak 5ki seasono impact~ ~o the Tawn miqflzt be
signigicant in spite of giqht skier use on ~e mountaino
Addigionallyo ig vasitors or residegats do not carpoal og
rely on.aaass gransito graffic=associated probgems may be
severe in spgge og regatively gighg accupancy gates at
gocag lodqes or numbers of skiers an the mo~~~ino
whi1e the~~ limitationg need to be
appgeciagedo SAOT is stilg the besg and easiest
gandacagor oL wh~ ~e Toy-yn and Moungain ase aae~~~~g
r-apacit~~ ~~ing t-he €iki seasono . .
. C. ~s a &gachaarle of Capacitvo %n
tae pastp th~ ~igure og g9o9A0 SAO~ ~~s been judged to
1~~ a vagid benc%ark og carrying eapacigy duria~g the
winter seasono ddde ba p900 SAFfb wa~ ~~alyz~d and
accepted by tae stage of Co1orado (thgAxiqh
~~artmeng ag High~ay~) in 1986 ~~~equently was
su~~~rted by s~~e Uni~ed states Forest Service aancg Tova
p 5 ~ At the current time, at 19,900 SAOT, th• Town is nearinq
capacity particularly with respect tci transportation and
~ parking.
D. Managina Peak Ppriods By L'tse of Control
"T3ers." From the perspective of T0I? and vA, it is
important that the community make efi'orts to maintain ,
skier visits at or below the 19,900 SAOT threshold and
to implement a peak management proqrtim which
thoughtfully ccntrols such periods while hopefully
provlding tha requiaite encouragemenl: to vieitcrs to
visit Vail durinq the nonpeak periodsf.
To this end, TOV and VA are hE:reby enterinq into
a formal agreement which will identijEy the respective
responsibilities of each to ensure that peak visitation
remains within the limits of the cariryinq capacity of
the community.
A series of "tiers" will allow T0V and VA to
implement the peak managemant prograim. Yfl addition, TOV
snd VA aqree to recammend to tbe V.S. Foxest Service
that the aqreement ba incorporated i.nto UA'8 special use permit (as related to Category III) with the IInited
6tates Forest ServicQ.
E. Monitoring or Adiusting t:he Peak ManaQement
Program. An important component of the peak management
plan is m comprehensive monitorinq 6ystem auch as that
outlined iu Section VI, balow, to determina how well
o ~ o
peak periods are ideaatigiedo whicta componen~~ ~f the
communityoa infgastxucture are begnq stresseda whet2aer
the mitigagaon and cjrowt$ ananageneaat measures are
workinqo agad wheYher o~~~ managemaaat googs might be
ffiore effective. SCOV aracfl VA xecogni~e thag any agreemeant
mu~~ dynaxn..ic and evolvingo Both parties angicipate
period~c modifications ~o measua;es giste~ ~n the pl.ang
as eeg fort8a $n Section V%a
P. Participation gy Bther Part Wo TOV and vA
wigg also sees ttae cooperagion of otheg partfes wYaic~
~~rtly responsible fog qrowth-regated isouse (the
resort assocgatiores, chanbers of coanmegceo godqfng
assocgagionso and athers) in suppoKting the measures
coaataan~~ ~n these proqram o such participation eou1d
be uaadertaken on a volun oinformal basiso
r119Mment ta the AYOD winte,r 1
seasono Althouqh outside the scope of thfs Agreemento
ffi~~~~~s vgigl ag~o be aaeeded to coantgcg peak aad hiqh
use pegiodg dtirbx~g the non-ski season (~ojao a Jug~ 4
w~ekendo %Iabor Dayo R.iggergasto etco ) o Proper managemeng of non=ski rega~~d periods wilg be*eqaally
criticaJl ensurinq the qaagity og the Vaig ~~~~ieneea
Wh~~e TOV musg havo tho pg~~ary roge in mnag~~g no~~ski
season growtho VA pledqes igg coopegagioaa.
1
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H. G].ossarv o! Terms. To facilitate review oP
this.discussion document, the followi.nq terms ara
definod:
Christmas Peak: That period which extends
between December 26 and December 31.
aigh Season: That period whic,h includes
Presidents' Weekend and each weekend beginning the third
weekend in February through the end c?f March.
Incremental lift ticket tax rEivenues: Future
lift ticket tax revanues on Vail Mouritain that excsed
the 1994 lift ticket tax revenues.
"Manaqe to": That process usE:d by the Forest
Service in the 1986 Special Use Permi.t and Decieioa
Notice to evaluate impacts to Vail Mc>untain and the Towr?
when skiers-at-one-tfine exceed 19,900.
Nonpeak periods: Those poriofis fallinq outside
of the Christmas Paak and Hiqh Seasozi and, which normally
include the early ski season, Thankselivinq, the pre-
Christmas period, the January to mid•-Februaty period,
and the late ski seasona
SAOT: Skiers-at-one-time on ilail Mountain. The
term is frequently used by the Foresit Servica in settinq
benchmark capacity fox visitation at a slci area, both on
the aki mountain and within the adjacent eommunity.
ao 8 c
gg a Ed'ACAldmAn"gitati01'1 QMrjjjq[ R6ak PPrjndn o
Sgagting immediategy, TOv and VA would commit go
a progrom to encsursge vbsitatioaa durinq underutiliz~~
~~riods of the wiaateg seasona This effort wosald create
incengiwes 40r guesto go visit Vail ag tiaaes ogher thaYa
th~ ~eak and high seasAns (as defined later in
Sections g%% and %V) and 4:hereby pgoaaote a aaare
balanced, h~~lthy economyo To tYais endo TOV ancl VA .
would develop a comprehensive p1an.by no lat~r thman
Uuns go b~~~ ~~t expands up~n and degail~ ~e measures
seg farth begou in this section
e A. VA ResRonsibil?ties_== NonRe.ak exi.odgo
Measures wougd be ampgemented by VA to encougage
visitagioxe during nonpeak periodso includingo
1o %ngensiZied anarketang of Vaia bath within
and oug~~~~ ~e 9roaat Rangeo
2. Expanded internatioxaal aaarketing0
3o ProvicRe seg~ctive skier pgoaaotional
ancentiveso incguding incentiv~~ ~o n o figst-time
domestic desginaggon skierso
4. Encourage godqe owners to use proanotional
$anceaetaves aaad pac~ging arrangements fos ind~~~g more
glexibge g~ngths of stay.
e g e
B. T~OV Responsibiliti.es N'antieak Periods. .
Measures would be implemented by TOV' to encourage
visitation during the nonpeak poriods, includinq:
1. Working with lodqe owners to encourage
lodginq incentivoa.
2. Creatinq certain park:inq incentives
(reduced fees or free parking) in conjunction.with vA
lift ticket incentives at certain tiaaes d.uring ncnpeak
periods to attract Front Range and vELlue-conscious
destination visitors.
3. Workinq with the commu,nity at large to
encouraqa the joint financing and hosting of special .
events.
4. Workinq more intensively with the Avon/
Beaver Creek Resort Associatlon ("ABC;RA10),, Lion°a Head
Merchants Association ("LHKA"), Vail 'Valley Tourism and.
Convehtion Hureau ("WTCB"), and otheir_associations to
increase nonpeak visitation.
5. TO~ znd VA would j oint7:y appoint a broad-
based comiaunity task force by June 1, 1995 to explore
additional mechanisms to bettar utiliz;o.existing
resources dusing the nonpeak periods. This task forca
would rvpost on ssemiarinual basis to the Asseasment
Committee referenced in Saction vi.8.
D `
e
o10
ggg. Coratrolgan~ ~e Chriatmas (December 26=
e ea iodo
TOV and VA ~ould impgement a series, og manageaenit
efforts to deaY more comprehensively with the historic
p~~ pera~~ durisag Christmas vacatfon (December 26=31) o
Thbs f iveaday period has the greatest chance og
exceeding 19 0 900 SAOT unla$s peak. managemerat measures
axe institutedo ~arties do recocrai~e that on
occasioga there can be relatively gow visitatgoaa days
dux inc~ ~e Chrisgmas season due go a vasiety of
facgorso ] .
These growth ffianagement measur~s would followa as
necessaryg undeg a segies of seguegagial tierso
A. 1. Startia~g immedaategyo `~A woubd implemeaat
the foggowang proqra~ during the Decembe~
~~cember 31 ~~riodo ~~ardless og whether Vaig Mountain . . at capacityo
ao Adjta~t marketgng to Froa~~ Ranqe day
. skiegs to avoid exceedang 19,900 SAA'°~ during ghe perioda
The success of ~is ef~ort wigg be ffionitored and
asses~~d thgoragl~ ~onitorincj program in section vi
begowo
bo Limit~ ~r miana~ge-Pgo nt Rang~
~romotaonal gicketia~~ incentive~ ~o a~~~d exceedbng
' b9p90Cl SBSI'k3+d dMtS ing 1b871~ ~erdo3 0 AII9e mAnitorinF~ c~06d
~J
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a8sessment proqram in Section VI be:low afll track the
succese of this effort.
c e Restrict ski pas:aes cif employoes,
students, merchant passes, and Colorado car8holdera ndurinq the period.
d. Provide bus passE:s to appropriate VA
employees for the regional transit system and encourage
the use ot tha free.TOV bus system.
a. Encourage employe:e carpoolinq by
providinq parkinq incentives when thireo or mors
employees ri8e j.n t.he same car.
r. Develop, in coajunction with Tov arid
the regional transit system, a plan by no later than
June 1, 1995 to facilitate off-site park and ti8a
proqrams for employees of VA. As part olt thls efforte
VA would develop cooperative relationships with public
schools) and privste institutions to utilize
appropriatQ parkinq sitee rahich are ,avai7la.ble cluring.
this time period. Specilic Bite 1oGatio:is ana funaing . mechanisms wculd be included in the plan.
q. Extend mountain operat:ions to epread
ingress and eqress periods be:eore 8:30 a.m.,
after 4:00 pam.). Any extengion of iDperational hours
wculd be coordinated with ToV and nolt interfere with
TOV'6 delivery of services (e.g., snow zemoval, )
a
ho Sgagger employee work hourso as
pgacgicabgeo mitiqate tratfic and parking proble.mso
i0 W0~k witta TOv and Eaqge County to
incgease reg iance upon vans and ather publ ic
transportatioaa go and fgom the Eag~~ ~ourbty agnd Denver
gnteanagional airports and within ToV while discourffiging
regiance upoaa gengal cagso To this ando VA would
develop a comprehensive pgara Idith ToV by no gater than
Jusie go g995 o including fundinq mechaaagsmso The plan
wougd also incgude backiap regalatory measures in the
eveng thag othes mechasaisffis to discouraqe use of reaatal
~ars ag~ ~successfug o At a minfmimo ~V and VA woaald
review and ta~~~e the pgan evexy other yearo
2. Starting immedAagelya `~~V would implemereg
a variegy og pgogra~~ ~uria2q the Deceanber 26=Decemlaer 31
pag~odo g~gardg~~~ ~f whe~~r the Towra of Vail is at
capacigyo
go gmpgementation mf a proactiveo hands-
on management effort in coogdinat4~~
~~equategy contrag peak trafgi~ and parkfnep issuea
associaged wigh the ~eako ' %ncguded in such
eggoxts aro proac~~~e ma8aagement of the tra~fic
circugation and pagking sy~temso creative algocagioan oS •
D
~ervica8 eggecggve utigization og law esaforcemsant
.persoaneg s and ]betgeg ~strabut$on skiers to the
digf~~rent }~~~e areQ Eacilitieso TOV couits to gfl~ely
. ~
inaplementatiun of such measuras, particularly during
inclement weather periods where traffic conditions can
be exacerbated,
b. Provide bus passes to TOV omployees
for the reqional transit system and encourage use ot the
free TOV bus system.
c. Impose appropriate parkinq
restrictions on employees (a.g., even/odd license plate
parkinq restrictions).
d. Adjust parkinq policies so as to
aaaximize tha number of spaces available for Vail's
visitors.
e. Encourage employee car.pooling by
providinq parking incentivea whan three or more
employees ride in the same car,
f. Develop, in conjunction with vA and
the reqional transit system, a plan ;by ne lates than
June 1, 1995 to facilitate off-site ;park and ride
proqrams for employees of TOV durinq the Christmas peak,
As part of this etfort, TOV would develop cooperative
relationships vith public (g.g., schools) and privata
institutions to utilize appropriate ;parkjlnq sites which
are available durinq this time periad.
q. Stagqer employee work hours, as
practicablQ, to m3tiqate tralfic and parltinq problemsa
. • ~g~~
ho %gac~~~~e number oS buse~ durinq ~e
lperiod go accammodage gagqeg numbers of r$degeo gn
ce~~in caseso rea~~si~ buses ga different ~eographicag
areaso Ioao o otagg~ing-areasQ and provide more gr~equent
service go su~~ ~reas, .
. $o Devegop a plan by no gater than
51ans 1, 1995 r~ith local businesses go amplemeng
caanparable aneasuges on a vola~~ary basiso
a o Work with VA aaad Eaqle CAunty to
incgease relf~~e upon vans and o~~~ pubYic
i~ransportagion ~o ancR fgom the Eaqle County and Deraveg
%ngesnagionag aixtipoa-~s aLaa~ ~~~in TOV whibe discouxaqinq
gelianee upa~ rengal carso To this ando TAV wauld
develop a compgeheaasive plan with VA by no gater than
.Tuns g o 1995oincluding appropriate fundinq mechanismsa
The pgan woald &gso incgu~~ ~ackup regulatary measures
in th~ event tha?t otaer mechanisms go discourage aase of
rental car~ ~~e unsucceeqffulo At a ffifaaimumo the plan
wougd be gevievad and uapdated eve~ otheg yearo
ko x"his tec~ique would be accompanied
by TOV ° o rigag~u@ managment Af pubg $c paskinq
sgractea~~~ maxaffiizo tha numbeg of spac~s avaigable
for Vaig°s vgsgtors and to reduce gocal traffic durinq
ingress aand ecgress hour@o Examples of measures go be
effiployed l~y TOV dusing th~ ~~stms~s pegf~ ~ou31d .
incgaxds (g) a~~~stment og short=term pa~~~ feagg
.
° 15' -
(specifically in the morning) 1 (2) ad j ustment ot
policies and !ee structuree to maximize ,kier visitation
during th• day and maximite village visiitatiora in ths
evening; and (3) restruaturinq use of local discounts
during thesa specilic peak periods. The Town will
produce a plan to reach such maximiziatiori before June 10
1995.
B. Tier II: Additienal Qr otmas Peak
Manaaement Measures. In the event tl.iat SAOT exceeds
19,900 for mora than two days durinq t.he December 26-31
peak period in a given year in spite of the management
measures listQd in Tier I above, VA irould add the
t'ollowing management proqrams during the next
December 26-December 31 seasons
1. Adjustments to lift ticket prices to
reflect full retail value.
2. Special or multi-day t:icketing
requirements within the guidelines of' U.S. Forest
Service raqulations.
3. Staqqer permitted skii,nq houro for a
portion of skiors througb lift ticket: options (g.g.,. g
a.m. - 2 p.m. or lo a.mv - 4 p.m.) once the new
technologiea oP bar coding and ecanning dievicee are in
place to keep on-mountain skiers below 19,900.
4. Encouraqe skiers, particulariy those
staying or resi8ing down vallay, to utilize VA
o o
gaci1igi8e ag Beaveg Cre¢:lca 1Bachel.or Gu1C2aa and
Arrowh'aeado
C. Xier gS~Ya gf ittne measures listed in Tier g%
abeve (1-4) sgill restalt in .19, 9A9 SA0T beincg eacceeded
tkaag etristmas seasoxao ~e Foges~ ~ervicea in
conjtanctfon wita VA aaad TOVo would meet as soon as
pracgicablra and impleaae~~ "managed go08 proggan set
fortIln iaa VA°s 1986 Speciag Use Permito In esseaicea this
prOL°esffi ~1.OLSld reCj1SAg'e tlAo bOVo BFld the s!'8res$ a7ervg(°ie b0
revi~w the operationag status of gacigities and
oervicea, the healgho safetyp and welfare oS guestso and
otaer gacgor6 so thm~ ~e Forest Service csan ~~~ermiaae
whetaeg further tickeg sales aaay proceede VAo ToVo and
g&~e Faresg Sexvics wougd also evaluate whether agay
. paggex-n ia Bmexgina~ ~ skier visi~ation that woaald gesig.9.g in freqta~t exceedences of 19,900 S?a6T
necessgtatiaag gustYnez evaLguation oi community impa~s
and pvtengiag adjust.mean~ of manaqeaent measureso
gS ~~~~g the folgowin~ ~~stmas peak periodo
19 p 9AO SAO'I' h2+1s Y10~ ~een (€YCeededo theYA VA w0881d ret&gg'$5
~o the SPieg gmanBgeffie%bt 9IIeas8EreS a83d fOrecjo the 8beed to
BSse °g°ge8' gg measuKeso
gVo ContseoLUnM-Hish s~~~Qn visitationo
vA axad TAV wougd ~~~~~~~r imp1.ementing a r~~~~~~
mWn~gemeant efgort@ to deab with hfstoric phigh
- 17 ~
season" use. Hiqh season includes PrQSidents' Weakand
and wQeketids extendinq froa the third weeken8 in
February through the.end of March. lHistorically, these
pariods have experienced qreater tbain avegage skier
visitation, although at levels qener;ally below those of
the Christmas peak.
Therefore, VA and ToV will imiplement a series of
measures set forth fn Tiers I-III in this section to
achieve the qoals of (1) maintaininq SAOT levels during
the hiqh season at or below 19,900 aiRd (2) ensuring ttie
best possible quality of services in the Town durinq
~
these period$. .
A. ier .
1. VA would implement the following measures
during the hiqh saason, roqardlarc of whethar capacity
is beinq exceeded:
a. Ad j ust maYketinq iind ad j ust
advertieinq strateqiea in an effort 1to avoid exceedinq
19,900 SAOT. The succees of this efieort will be
monitored and assessed through the monitcrring progrsm iai
. Sectien vI belov.
. ' b. Limit or manaqe Ficont Range
promotional ticketinq incentives in iin et'fort to avoid
exceedinq 19090o SAOT durinq tha per:lod. The monitorinq
and assessment proqram set !oz-t.h in Sectioa VI below
will track the success of this effori:.
ca Encourage employee carpooling by
providing free paglcin~ and exceptions ta d~iving
gestrictions when three og moge employees gfde in the
same cago
dm During times suc2a as Presidents°
Weekend agad Spring Bgeako facigitate off=site park and
ride procgx°ams for employees of VA in conjunction with
Tov and the regionag transit systema A specific plan to
accomplish this Eaill be prepared by June la 19950 As
jpart o~ th~~ ~lano VA weuld develop cooperative
regationsh~~s with public schools) and priwate
• institut~ons to uta.lize appropgiate parking sites which
are available dtaring this time periodo
so Extencl mountain operations to spread
ingx~~s and egrees periods Q~ o g o~ before 8a 30 aa aa o 0
after 4o00 pomo) o Any exge-nsion of operational hours
wou9.d be coordiaiated wa.th TOV and not interfere with
TOV°s de1ivery og services (ea=qo g saaow removal)o
go Sgaggeg empgoyeo work hoursp as
practfcableo ~o mitigage traffic and parking problemso
go work w~th Tov agad Eag1.e County to ancremse srelliance upon vans and other ptablic
graasportation go and fsom the Eagle County aLrad Denves
gaatesga~tional aixpo~s and within TOv while discouragin~
~~~iance upoaa ~ental carsa ~o this eado VA would
deveg~~ ~ comprebensive pgan ~~~h TM by no 9.ater than
- 19 -
June 1, 1995, includinq appropriato !'unding moohanigme.
The plan would also include backup rE?gul8tory meagures
in the event that other mechanisms to discourage use of •
rental cars are unsuccessful.
2. ToV would implement the following
mea6ures durinq the high season, reqardle,ss of whether
capacity is being exceeded:
a. Implamentation o= a proactive, handsm
on manaqement effort in coordination with VA to
adequately control peak traffic and parkiizq issues
associated with the higga season peak. In<:luded in such
efforts are proactive management of ths traffic
circulation and parkinq sy8tems; creative allocation ot
bus service; effective utilization of law enforcement
personnel; and better distribution oP skiE:rs to the
different base area `acilities. ToV coimni.ts to timely
implementation of such iaeastares, part;iculasly dnirfriq
inclement weather periods where traff:ic cc?nditions can
be exacerbated.
b. Apply rigorous maniigeme:rat practicee
to the Town's public parkinq structurf:s ao, aa to
maximizo the number of spaces availab7Le for Vai]L'a
visitors and to reduce local tratfic ituring ingreso and egre9a hours. Examples of measures tc> ba employed by ,
TOV durinq the Christmas period would include
(1) adjustment ot short-teraa pmsking i'ees (speca.fically
' q 20 Q
in the morraing) o (a) adjusYmeng of policiss and fee
structur~~ maasimize skier visitation duriaaq the day
and maximize villagre visitatSon in the eveningB and
(3) restracturing use ~f local discountffi dt~~~g these
. specigic peak periods<
c. Develop a plan by no ].ater than
juns l0 1995 to facigitatQ ogg=site pffirk and ride
pgog-same gor eaaployees oP TOVo As part of this efforta
TOV would devel.op eoopegative gelationsh.ips watn public
sr.hools) and prgvate institutians to utilize
appgopgiage parkirag sites which are available durinq
tair. time pariocio specigic site l.ocations aaad fusaciing
ffiechaxa~ams vdould be included in the plano
do Staqger employee work hourso as
practicableg to mggigate tsaffic and parkinq problemso
so Increase nunber ot buses duginq the
peraad to accommadate largeg numbers of riderso I~
~ertain caseso reassagn buses to difterent geographica2
areaso ouglying areaso and provi~e imore fsequeaat
service to st~~h areaso
ro Wogk with loca~ ~usinesses to
iffip7lement comp~rabge maasures mxa a voluntary basas o
go Work wath VA and Eagle County to
incgease goliance upon vnns and other yub:Lia
tgansportagion to aa~ ~~~m thp- Eao~~~ ~OUnty and Denves
gmgems?gion~~ ~iryorts and within TOV.While dascouraging
-2i-
reliance upon rental cars. To thia end, '.VOV would
develop a comprehensive plan with VA by no later than
June 11 1995, including appxopriate lunditiq mechaniems.
The plan would alao include backup regulat:ory memsures
in the event that other measures to d.iscoLUrage us• of
rental cars are unsuccessful. The plign wciuld be
reviewed and updated every other ysar,.,
B. Tier II: AdcLitional Hicrh, ;',eaga anaqement
Measures.
1. In the event fchat SAOT durinq the hfqh
season exceede 19,900 moro than two tjLmes during this
high season perio8 despite impiementat:ion oP the
measures listed in Tier I above, VA wciuld implemerit ttie
followinq measures duriaq the followir,tq hilgh season
period:
a. Reduce marketing to, Fxolnt Range
skiers during the perioda The success ot 'this effort
will be monitared and assessed throuqb, the monitorinq
program iat Section V% below.
b. Adjust pricinq of lift 1:icket8 to
reflect full retail value and/or limit selling og
discounted lift tickets. The monitori:taq anci assessment
program in Section VI below will track the success of
this effort.
c. Restrict some or coiabinaLtiona of ski .
passes of employees, students, merchanit passes, and
G / / O
ae cy
Colosado cagdhogders during the high season oro
alteraaatively, restricg the hours and the l.ocagio~s thasc
such ya~~~~ can ~e used during hiqh seasono
do Stagqer permitted s3ciinq hours gor a
yortaosa of skiers through lift tickeg options (eaga a a
a.mo = a pamo os 10 aomo - 4 pomo ) once the new
tecYnologies of bar codinq anei scanninq devices ax-e gn
pgsce to keep on-ffiaungain s)eiers below g9e90Ao This
gechnique wotagd be accompanied by TOV °s rigtorou~
management o~ publfc parkinq sgractures to ffiaximize the
numbeg ot spaces available for Vaal° o visitorsa
G. Encourage slcierso particularly those
gesiding down va~~eyD to utilize VA facilities at Beavas
Creeko Bashegor Gulcho and Arrowheada
9a Provfdle bus passes to appropriate VA
empgoyees gor the segional transit system and encourage
the use og the fgee TOV bus systemo
9. affipose parking restrictions oaa
employees throuqh programs such as even/odd ~~cenee .
pg~~~ parking restrictiensa
2o gn the evex~t that SAO'I' during the hig~
season exceeds 19,900 mo~e tha~ times during this
hiqh seasora ~~~iod despite impleffientati~~ of the
measures gisted ia~ I above, TOV woa~~d implement the
foglowing ffieasures during the gollowing high -season
o
- 23 -
a. Provide bus passe9, to +appropriate TOV
e.mployees for the reqional transit sy'atem and encourage
the use oP the tree TOV bus systeme
b. Impcse parkinq restricitions on
employees through even/odd lfcense plate lparkinq
restrictions.
c. Provide bus passes to TOV employees
for the Avon/Beaver Creelc transit ana enceuraqe use of
, the fzee TOV bus system.
d. Impose parking restrict:ions on
employees throuqh programs such as even/ocld license
plate parkinq restrictions.
C. Tier III. If implementatiian o!' tlZe abcve
measures listed in Tier %I still resu;Lt irk 19,900 SAOT
beinq exceeded that high season, then the Fosest
Service, in consultation tuith VA and :['OV, would
implement the "manaqed to" program sett lozt-h ia VR' a
1986 special use parmit.
V. TOV Allocations of Lift Tax Re~renuerz.
TOV and VA reaffigm that the piirpose of the lift
tax, as embodied in ordinance 14, SerjLes of 1992, is to
meet skier-related transportation and circulation needs
within the Vail community. TOV and VI? acknowledge that
suc,h future transportation neads are E:ubstantia]L and can
be only partially satistied throuqh li:ft tax rewenues.
Accogdinqlyo other localo stageo and gedezal revenues
will b~ ~equirefl to supplemeng gfft tax revenueso
Currshtlyo lfgt tax revenues have primarily been
used go gun61 the T0V bus system< xOV and V~ ~~~~e that
i% gigg tax gevenues gemain in any given year aEgeg
costs associffited wit.h TOVB& skier=related bus serrices
have beeaa caeeged by sach geveaaues (ag pgovacied ttasouqh
o4:heg ggant-s or non-Vla revenue sources) o such
supplemental lift tax revenues will be a1.lACated by ToV
ga ather psiarity skfer-related transporta?tion needso
By doingt soo TOV wigg help to eff~~tuate tha purpoaes of
th~s Acjreemea~~ ~~~l malce steady pgogress toward
. providing a supergog truasportation/cggculagioaa system
foP. Vaig ° a wiatertime gaests 0 Wi~ ~e aciver~~ ~f
anticipag~~ ~nnuag sk~~~ visitatgon gSOwtha incrementag
geveaaues should agso became avabgable to address these
important prioritieso
As a gesulg og the yast eighteen aonths of
dasc-s~~~ons ~~~coxmgn~ ~owtta man~~~ento TOV and VA
ancicipage thag the mest prosca~g ouz-rent skgeg=rela~ed
ggansportagion aaeeds includeo but age not gimiged too
compgetgon og the rouaa~about ~t the 4=way stopo
coa~~truction,og ~ ~~~~~~t in Fdest Vablo developmesat
o~ a wssgE~~y and shugtge bus serr~~ from the ptblic
pagkin~ ~trucgure to Colden Peak an~ ~ ~~lkway fron the
Visga 1~~ ~o Chair So devegopmen~ of appropriate park
~
- 25
and ride sites; expansion of reqiona]l bus servicet
expansion of skier drop-oft sites fo2- personal vehicles
and creation of better bus drop-off ].ocations at the
Westin, Vista Bahn, Golden Peak, and Lionshead.
The Assessment Committee (Sect:ion VI, B) will
periodically update its transportaticin assessments in light of the purposes of this AgrQamatnt, ;and make recommendations for priority transportatiion projects and'
allocations of lift tax revenues.
Whila the final decisions to proceed with one or
more ot the above-improvements or other pirojects rest
with TOV, VA's input and the objectives of this
Agreement will be given careful consideration.
VI. Monitorina/Asaessments.
" A. Tov and vA agree to share (aqually (except
where noted) in the'cost of a comprebiensive monitorinq
program to assess the effects and impacts of pealc day or
high sQason use, as well as to evalualte nanpeak periods.
Such monitoring program will be developed jointly by TOV
and VA by no later than June 1, 1995, and include at a
minimum the fallowinq itemsr
1. Skiers on vail Kountain, in.cluding points .
of access and eqress, timea of arriva]: and departure,
arid numbers of destination and day skJLera. This
inPormation aill be supplemented throuqh vA's bar coding
a
d a~ °
. gigt tickeg sy~tem once it ia fully operationalo The
efgect o.g gicket prics adjustments and marketinq on
mlkf.er visitmgion durigaq ~eak aaad nonpnak periods wigl
also be evaluatedo Narmal cost~ ~f monito~~~ skier
numbers and movement would be borne by VAo
Extraordinary arad new eealuatioras j ointly agireed to by y
VA-snd TOiY would be funded equally by VA aarld TOVo
2. Traffic arialysis o diaranq wfnter onlyo
includinq traffgc counts and assessments of key factogs
such as coaaqe5tboar, ~t the fous-way stop and W~~~ ~~ilo
%acluded in ghis anagysis wibl be the review of varioua
gscaffic miaraagemerag techraiques gaa geducing conqeetion a~
th~ efgects og iaaclement weather and accicients
on canqestiono
3o Parking coaants at key l.ocations durirnq
the wintego incbuding publgc gotso pagk and ride
faeilitieso an=road parkgnq, etco
4. M~~s tramito ~arpoolinqo vanpoolinq
assessmen~~ dur~~ wintero includ~d witain tais .
ca,gagory would be an assessment of whag measures can
reduce gelisnce on rental cara in pregegence for van and .
bu~ sexriceg what ffiea~~~~~~ ~e working to facillitate
empg~~~~ and carpoolingo and how to improve
ffiass tra~ri~~~ ~erviceso
5o Hogeg reservation and occupan~
~~~~~~mantso
e
~ 27
~
6. Customer-based survey resitarch to measure
service level ratings.
7. Reduced parking tees (aB.reterenced in
II.H.2) as an inducement to skiers during nanpeak
periods; full retail parkinq fees as an inducement to
use buses and vans durinq peak periocis.
8. Assessment ot other pairties" (resort
aesociations, chamber of commerce, lodge owners)
assistance to increasinq nonpeak visitation.
9. Nonpeak marketing effc?rts, both
nationally and intemationally, and ti?A•e incentives for
lirst-time.destination skiers.
l0o Lodge owners' nonpeak promotional
incentives. 11. Impacts gamexally to t,he TiDwn and Vai]L
Mountain from increased average daily- vis:itation resulting fram Category III and other, facltoxs.
8. A committee (the "Assessment Committee1e),
comprised of two representatives of TOV a»d two
representatives of tt'A will meet perioaicnlly
every two months durinq the ski season) and on an ad hoc
basis vhen a significant event occurs such as
19,900 SAOT being exceeded) to assess the success vf the
overall proqram. A representative of the Forest Service
will.jein the deliberations of the Assessnaent Committee
whan issuQs are raisod involvirtq SAOT exceeEling 19,900.
o o
The Assessmeaat Commgt~~~e would evaguate the ads,guacy of
the monitoging pgog-rams tkaG resultr* of the nonpeak
progrsm (section 11)pand the results o~ ~e Christmas
(section aga) ana Hiqh season (section gv) peak
manage.meng proqgams o ~e Assessment eommittee wotald
make recammeadatiAaa@ go TAVo VA, aaad the Forest seavice
about adjustments or gffiprove ments tYaat could stx°engthen
the diffegent components of these pragramso ~e
Assessaneaat Committee would be constialted by the Forest
Service as yart og the Forest Servace°a Be ge to°A
proqrana set forth in the 1986 Special IIse Permit aaad
Decisaon Nogiceo Lastlyo the Assessment Comffiittee would
pgovad~ gene-rag advice to TOV and vA regarding ways in
whgch the communit~ can maintain and preserre its
posigion as a premieg resorto
C o Lonitorina and Assessment Costs, VA
aqgee to gund, upon aaugaaal agreemento s]eier~~elated
~onitorinq pgagrams ffientioned in Section VIoAo above as
weg~ ~s thd uosk of the Assessmerat ComzLittee an a 50/50
ba~sis gor the duragion of thf~ ~~~emento
V%%o kodif ications ta P~ak l~a~aqe~ent Aarreement,
A. TOV and VA Sec~~~e that the threshold
lfxigs of 5t9o900 SAOT affi well an the perceived limits to
carryinq capacitya particularly traSSico parkingQ and
on=ffiouxata~n'ingre5s and egresso can be altered by a
- 29
variety of important factors. Decis:long to expand mass
transit, improve parkinq, improve reiidway-a and
intersections, change basic land use patt,erns, j.mprcved
technoloqies that allow better distrjlbuti.on of skiera,
bag codinq, scanninq devices),, or other maasures
may have a positive effect of better managing growth and
. hence, allow an upward adjustment of the 19,900 SAOT
figure. Any future improvements (st2-uctural,
operational, or otherwise) may chanqEi aspects of this
peak manaqement Aqreement and gerider certain mitigation
measuras unnecessary.
B. TOV and VA t2aerefvre recogmize that the '
proqram outlined in this document mus;t be periodically
reassessa8 by the Assessment Committee and modified where necessary. Through thhe Asseesaient Committee,
evaluations will be made and modifica;tionis to the
prograan will be considered. TOV and VA sIbLall jointly
reviaw such recommendations and detezmina where
amendments are appropriate. ~
C. TOV and VA secognize that any adjustment of
the 19, 90e SAOT number wil].. require a. furlther
environmental analysis by the Forest Serv`ce,
particularly as it relates to oft-site.issues within the
Towra of Vail e Tsvaluations of imgrovemente; to
ir?frastructure witbin Vail einae 1986, prcnress on
implementina ths priorities set forth, in ;;ection V, and
~
` q 30 o
otheg Sacgogs woubd be part oS the Fogest 5~rvic~
y
~~viewo Bogh TAV an~ VA intend g~ ~articfpato activel
in any suck~ ~~~equeaat Farest Serrfee reviewo
V%%%o
The Town of Vai1 &nd VA wish to acknowledge gheir .
ogaqcf8ag combagtment go help foster adeqaate employee
housing iaa the Town og Vail o Agthoug~ ~~~~~ory g%Y ig
aaog expected go increase the deaaand fo~ emplo~ee, housing
(since Peak skaer demand wi~~ remagn constant)o t2xe
continued ~emana for addigionag ~~~~~~~~e employee
housixag naaait~ remains on g comffiunity=wide basiso
Whiga~ VA has b~~n &n actlve part$cipaaat in
employee hou~~ng pgogramso such as Eaq~e sendo LaCe
creeko tae SuxLbigd %odgeo and the mort~~~e guaraatee
PrOgraffi, ~nd thO Town Off Vail has in:tituted modeg
~oning pgovisiaa~s and is in the process of deve9.oping
moxtgage guaragatee Pgogram to aggis~ employee hou~~ingo
t8a~ ~~~~~er- recogng$e tFamt this constitutes onl~ ~
~artizl scgutiOE tow~rd Whag should be
accompg ~ shedo
VA and ta(a Town of Vail reh~w thear comffiitmeaat to
expg~~~ otheg ~pportunftieso ffigri~~ ~~Plac~ employee
housiaag thag i~~ taken off tFae liarketo and work in
comprihoxasivs f~a-9hion c~ith the Vaig $ousinq Authority.
r
_ 31 -
The parties will slso intenejlfy their efforts to
secure assistancs rrom tha Forest SEkryice and the
Congress in the allocation ot federa.l assistance in t21e
14aBinq or donation of federal land for "pl.cyee housinq
and in the joint development of employee housing unit4
that benefit both local and Forest Service emplayee9.