HomeMy WebLinkAbout1998-09-01 Support Documentation Town Council Evening Session
VAIL TOWN COUNCIL
EVENING MEETING
TUESDAY, SEPTEMBER 1, 1998
7:00 P.M. IN TOV COUNCIL CHAMBERS
AGENDA
NOTE: Times of items are approximate, subject to change, and canhot be relied upon to ' determine at what time Council will consider an item.
1 • C(T(ZEN PARTICIPATION. (5 mins.)
2• CONSENT AGENDA: (5 mins.)
A. Approve the Minutes from the meetings of August 4th and 18th,
1998.
3• Emergency Ordinance No. 13, Series of 1998, an ordinance requiring use
Tom Moorhead of helmets at the Lionshead Skateboard Park and Prohibiting the Use of
Steve Wright Skateboards, Roller Skates, Blades and Bicycles wifihir+ the Town of Vail
Mike Knox Transportation Center and Lionshead Parking Structure and Declaring an
Emergency. (45 mins.)
ACTION REQUESTED OF COUNCIL: Approve, Deny or Modify
Ordinance No. 13, Series of 1998 as an emergency.
BACKGROUND RATIONALE: The use of helmets in the skateboard park
located in the Lionshead Parking Structure has been inadequate. At
times as many as 90% of the users have been without helmets. In
discussions with the Vail Recreation District and the Vail Police
Department it has been determined that it is necessary to affect a
regulation in the Town of Vail Code to properly regulate the usage. Also,
the Vail Police Department has experienced an increase in conflict
between recreafional use and automobiles within the parking structures.
STAFF RECOMMENDATION: Approve Ordinance No. 13, Series of 1998
as an emergency.
4• Ordinance No. 12, Series of 1998, second reading of an Ordinance
Steve Thompson Authorizing the Issuance of Town of Vail, Colorado Sales Tax Revenue
Refunding Bonds, Series 1998A and Taxable Sales Tax Revenue
Refunding Bonds, Series 19986; Providing the Form, Terms and
Conditions af the 1998 Bonds, the Manner and Terms of Issuance, the
Manner of Execution, the Method of Payment and the Security Therefor;
Piedging Saies Tax Revenues of the Town for the Payment of the 1998
Bonds; Providing Certain Covenants and Other Details and Making Other
Provisions Concerning the 1998 Bonds and the Sales Tax Revenues;
Ratifying Action Previously Taken and Appertaining Thereto; Repealing
all Ordinances in Conflict Herewith. (30 mins.)
ACTION REQUESTED OF COUNCIL: Approve, Deny or Modify
Ordinance No. 12, Series of 1998 on second reading.
BACKGROUND RATIONALE: The proposed refinancing of a portion of
the Town's debt would provide level debt service payments from 1999
until the year 2012. This refinancing would free up additional funds and
I enable the Town to fund additional capital projects. The interest rate for
this transaction will be lower than the current debt service.
STAFF RECOMMENDATION: Approve Ordinance No. 12, Series of 1998
on second reading.
_
5. Town Manager's Report. (10 mins.)
6. Adjournment - 9:35 p.m.
NOTE UPCOMING MEETING START TIMES BELOW:
(ALL TIMES ARE APPROXIMATE AND SUBJECT TO CHANGE)
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THE NEXT VAIL TOWN COUNCIL REGULAR WORK SESSION
WILL BE ON TUESDAY, 918198, BEGINNING AT 2:00 P.M. IN TOV COUNCIL CHAMBERS.
THE FOLLOWING VAIL TOWN COUNCIL REGULAR WORK SESSION
WILL BE ON TUESDAY, 9115198, BEGINNING AT 2:00 P.M. IN TOV COUNCIL CHAMBERS.
THE NEXT VAIL TOWN COUNCIL REGULAR EVENING MEETING
WILL BE ON TUESDAY, 9115/98, BEGINNING AT 7:00 P.M. IN TOV COUNCIL CHAMBERS.
1111111
Sign language interpretation available upon request with 24 hour notification. Please call 479-2332 voice
or 479-2356 TDD for information.
C:IHGENDA.TC
J
COUNCIL FOLLOW-UP
TOPIC QUESTIONS FOLLOW-UP SOLUTIONS
1998
6/9/98 BETTY NEAL COMPUTER TRAINING Anne: Please contact Betty to arrange a training session for Kevin Foley is the only Council member who expressed an interest. I have
Kevin Foley interested Council members. e-mailetl Betty to ask whether there is a class at CMC that Kevin could
take.
7128/98 MUD LOT (LOT A ADJACENT TO RUSSELLIANNIENRDITOM/PAM: Kaye Ferry expressed
THE HOSPITAL AND LIBRARY) concern that the lot reseNed for VRD, library personnel, and
Councif hospital staff is underutitized, after experiencing difficulties
herself in dropping off an injured person and securing a
parking space. It was suggested original agreements wlthe
hospital be revisited re: the parking lot west of the hospital,
as well as the parking structure to the east. Staff will return to Council w/their findings.
8/25198 DISCUSSION WIECO RE: GYPSUM LARRY/MIKE ROSE: This has been scheduled for the
BUS ROUTE September 15, 1998, work session. Anne will ask Jim Shrum
Kevin Foley to attend.
8/25/98 NORTH TRAIL NAME CHANGE RUSSELL: A suggestion has come from the community to
Kevin Foley re-name the North Trail: LYNDON ELLEFSON TRAIL. Does
this require a cooperative effort wlthe Fore'st ServicelBLM?
8125l98 COUNCIL VOICEMAIL RON/GREG: Council has received requests from the public
Kevin Foley to have a function added so that a single message can be
routed to ALL Council members, rather than a constituent
having to leave individual messages 7 times. Also, the
request has been made to allow a caller to return to the main
menu after slhe has left a messa e.
August 28, 1998, F'age 1
8/25/98 BEAR PROBLEM RUSSELL: Bear problemsfsightings appear to be increasing;
Kevin Foley should the town be doing more than just providing "lip
service" by re-evaluatinglre-proposing the bear proof
garbage cans incentive for purchase, etc.?
8125l98 DOWN JUNCTION DEER/ELK LARRYIGREG HALL: Is the count available? It would be
MIGRATION NUMBERS valuable to review these ASAP to determine next spring's
Kevin Foley opening use.
8125l98 LIONSHEAD TOT LOT BOB/LARRYITODD 0.: Since this was removed, nothing
Kevin Foley , has been installed to replace it. Consider installation of a
small park in the Lionshead area in the'99-2000 budget.
August 28, 1998, Fage 2
4 ~
Memorandum
To: Town Council
From: Andy Knudtsen
Nina Timm
Subject: Employee Housing Guidelines
Date: August 31, 1998
Staff has provided the Employee Housing Guidelines and Deed Restrictions for
Council review. The Employee Housing Guidelines and the Deed Restriction
for Red Sandstone Development set the standards for occupancy requirements,
re-sale procedures and resale price limitations for future buyers. The standards
are the same as those used for Vail Commons except where modified to reflect
the direction recently provided by Council. Also included is an Individual Deed
Restriction, which references the Master Deed Restriction, and is signeti by
individual owners at the time of closing.
THE TOWN OF VAIL
EMPLOYEE HOUSING GUIDELINES
9-1-98 Town of Vail
Errployee Housing Guidelines Page 1 of 10
I
. .
1. PURPOSE
The purpose of the Employee Housing Guidelines ("Guidelines") is to set forth the occupancy
requirements, re-sale procedures, and resale price limitations for the Town of Vail deed
restrrcted for-sale employee housing. Additional information pertaining to Employee Housing
Unit deed restrictions can be found in the applicable Master Deed Restriction Agreement
("Master Deed Restriction") for the occupancy a.nd resale of certain projects such as Vail , Commons. Prior to closing on a employee housing unit, the owner must sign an individual deed
restriction which references the Guidelines and the Master Deed Restriction which will be
recorded at the closing, and which will run with the property in perpetuity. 1-
II. MAXIMUM RESALE PRICE
An owner may desire to sell a deed-restricted Employee Housing Unit provided that the resale
price and prospective purchaser meet the standards of the Guidelines and the Master Deed
Restriction. Resale price may not exceed:
A. The original price plus
B. An increment equal to 3% per annum of the original purchase price from the date
of purchase (prorated at the rate of 0.25% for each whole month of any part of any
year) plus
C. The value of capital improvements (including professional architect's fees) made to
the Employee Housing Unit not exceeding 10% of the original purchase price. For
every ten years from the date of original purchase and deed restriction, another ten
percent of the purchase price may be added to the value of the property for capital
improvements plus
D. The value of any special assessments made by a homeowner's association or by a
local government that have been paid by the owner.
Additional details regarding resale value as well as calculation methods are provided in the deed restriction.
IIL RESALE PROCEDURES
The deed restricted unit must be listed for sale with the Town of Vail.
A. Listing the unit with the Town of Vail: Staff duties
1. An owner of an affordable housing unit desiring to sell should consult with
Town staff (Housing Division) and review the individual deed restriction
and the Master Deed Restriction covering the unit to determine the
maxirrium sales price permitted and other applicable provisions conceming
Town of Vail
Employee Housing Guidelines
Page 2 of 10
a sale. Unless otherwise provided in the Master Deed Restriction, the unit
must be listed for sale with the Town and the Town staff or its designee
will administer the sale in accordance with the Guidelines in effect at the
time of listing. There shall be a minimum listing period of three months
before a unit's price can be readjusted. Any termination in the listing may
require the payment of administrative and advertising costs. The 1/2
percent of the sales price required to be deposited with Town staff at time
of listing will be forfeited. Costs exceeding the amount of the deposit shall
be paid by the owner.
2. The Guidelines are intended to assure that ALL purchasers and ALL sellers
will be treated fairly and impartially. Questions will be answered and help
provided to any potential purchasers or sellers equally in accordance with
the current Guidelines. Listings, sales contracts, extensions to contracts
and closing documents will be prepared and all actions necessary to
consummate the sale shall be undertaken.
3. In pursuit of the above, the staff will be acting on behalf of the Town. It
should be clearly understood by and between all parties to a sales
transaction that the staff members are not acting as licensed brokers to the
transaction, but as representatives of the Town and its interests. They shall
nevertheless attempt to help both parties consummate a fair and equitable
sale in accordance with the then current Guidelines.
4. All purchasers and sellers are advised to consult legal counsel regarding
examination of title and all contraets, agreements and title documents. The
retention of such counsel, licensed real estate brokers, or such related
services, shall be at purchaser's or seller's own expense. The fees paid to
the Town are to be paid regardless of any actions or services that the
purchaser or seller may undertake or acquire.
B. Advertising the sale: bid periods ,
1. After a unit is listed for sale with the Town, the Town will arrange to
advertise the unit for sale in two consecutive Friday editions of the Vail
Daily and the Vail Trail. When a unit is first listed, there is an initial two-
week bid period during which the unit will be advertised witb two open
house dates when the unit may be viewed by interested parties. The initial
-two-week-bid period -ends on the Fr-iday after the second week of
advertising. If no bids are received during the initial bid period, there will
follow consecutive one-week bid periods, ending on Friday, until the unit is
sold.
Town of Vail
Employee Housing Guidelines
Page 3 of 10
2. If more than one bid is received during any bid period, the bids shall be
prioritized according to the criteria of the then-current Guidelines. If more
than one bid is in top priority, a lottery will be held and the winner will be
notified. If the winner of the lottery does not proceed to contract within
five business days after notification, the next in line will be notified and so.
on, until the unit is under contract for purchase. Back-up contracts in the
priority order set forth in the lottery will be accepted.
Prospective purchasers must be pre-qualified by a lender prior to
submitting a bid for affordable housing. Names of authorized lenders are
availa.ble from the Town. Town staff will be available to assist interested parties with the purchase procedures and to answer any questions about the
process.
C. Sales and Other Fees:
1. Unless otherwise set forth in the Master Deed Restriction covering the
unit, at the closing of the sale, the seller will pay the Town a sales fee equal
to two (2) percent of the sales price. The Town may instruct the title
company to pay said fees to the Town out of the funds held for the seller at
the closing. Unless otherwise specified in the Master Deed Restriction, a
one-half percent (1/2%) fee is paid by the Seller at the time of listing,
which is applied to the total sales fee payable at closing. In the event that
the seller fails to perform under the listing contract, rejects all offers at
maximum price in cash or cash-equivalent terms, or should withdraw the
listing after advertising has commenced, that portion of the fee will not be
refunded. In the event that the seller withdraws for failure of any bids to be
received at maximum price or with acceptable terms, the advertising and
administrative costs incurred by the Town shall be deducted from the fee,
_ with the balance credited to the owner's sales fee when the property is
sold.
2. Conventional-type financing provisions (i.e. FNMA) are those which
provide, among other things, for the removal of the Master Deed
Restriction on the unit upon fareclosure of the mortgage if the Town does
not exercise its option to purchase the unit within a specified time
following foreclosure. Unless otherwise set forth in the Deed Restriction
covering the unit, upon the initial sale, resale or refinancing of units where
conventional-type-financing-provisions are used (the use of which shall be
at the sole discretion of the Town) there may be a fee charged by the
Town. The fee shall be paid by the mortgagor; shall be based on the
amount of the mortgage; shall be paid for each mortgage transaction; and
Town oFVail
Employee Housing Guidelines
Page 4 of 10
shall be deposited in the Town mortgage reserve fund account. If the fee
is paid on a unit and the unit is subsequently refinanced, the fee shall only
apply to that amount of the refinanced mortgage greater than the initial
mortgage upon which the fee was initially collected. The amount and
adequacy of the fee and the mortgage reserve fund shall be reviewed
annually as part of the review of the Guidelines.
D. Deed Restriction:
The purchaser must execute, in a form satisfactory to the Town and for recording . `
with the Eagle County Clerk concurrent with the closing of the sale, a document acknowledging the purchaser's agreement to be bound by (1) the recorded Master
Deed Restriction covering the sale unit and (2) the then-current Guidelines.
IV. RESALE LOTTERY CRITERIA
A. There are five basic eligibility requirements which must be met prior to an individual
submitting a bid to purchase an employee housing unit.
l. The applicant must intend to use the unit as his/her prima.ry residence and maintain
it as his/her primary residence in the future.
2. The applicant must be currently employed at a business located within Eagle
County which holds a business license with the appropriate jurisdiction (Town of
Vail, Town of Avon, etc.), must be employed an average of 30 hours each week
on an annual basis, and must maintain this level of employment for as long as he or
she owns the unit.
3. The applicant may not own residential real estate in Eagle County at the time of
application.
4. The applicant must be prequalified with a mortgage lender.
5. For the three bedroom units at Vail Commons and Red Sandstone, the applicant
must have a household size of 3 or more persons. For the purposes of determining
household size, applicants may include all persons related to the applicant by
blood, ma.rriage or adoption. If the applicant plans to include dependents, they
must be listed on federal income tax forms and reside in the household at least six
months and one day-out of every 12, month period of time.
B. Once basic eligibility has been met, the qualified person(s) submitting the highest bid price
(not to exceed the maximum bid price) during a bid period shall have the first right to
Town of Vail
Employee Housing Guidelines
Page 5 of 10
negotiate purchase of the unit. If two or more qualified bids are submitted at the highest
bid price, they shall receive preference and be prioritized for selection as the top bidder
based on the highest score using the criteria listed below. Each year of residency and
ernployment in Eagle County will count as one point in deternvning the total score.
Additional points will be determined as follows:
1. Current and consecutive years of employment in Vail shall be weighted at 3:1
over consecutive years of employment elsewhere in Eagle County and historical
employment in Vail immediately preceding consecutive employment elsewhere in Eagle County.
2. Current and consecutive years of residence in Vail shall be weighted at 3:1 over
consecutive years of residence elsewhere in Eagle county and historical residence
in Vail immediately preceding consecutive residence elsewhere in Eagle County.
C. Notes:
1. The physical place of residence and employment is what counts, not the mailing
address.
2. Employment physically located on Vail Mountain shall be considered inside the
Town of Vail.
3. Employment requiring work to be completed at locations "on-site" throughout
Eagle County (e.g., construction sites) shall be considered outside the Town of
Vail.
4. Seasonal work and part time work shall be counted on a pro-rata basis. Seasonal
work and part time work alone may not be adequate to meet the 30 hours/week .
average annual requirement. This type of work mav need to augment other
employment to meet the minimum eligibility.
5. For the purposes of determining the standing of each applicant, each year of
residency (or employment) reflects one point. For the portion of time in excess of
a complete year, the Town will round to the next highest number if the time
exceeds six months a.nd one day. If the time is less than six months, the Town will
round down.
6. If two individuals are applying jointly, the years of employment and/or residency
shall not be combined. The single individual with the longest record of
employment and/or residency shall use his or her record for the purposes of
Town of Vail
Employee Housing Guidelines
Page 6 of 10
determining longevity.
7. Persons who own residences located in Vail or Eagle County at the time of the bid
deadline are not eligible.
8. All claims will be verified by Town of Vail staff. Claims of residence or
employment that do not check out or are un-verifiable will not be counted in
determining your longevity.
V. OCCUPANCY REQUIREMENTS
Once an Employee Housing Unit has been purchased, it must continue to be occupied in a manner
which is consistent with the goals and policies of the Town of Vail Housing Program. The
purchased Employee Housing Unit must be owner occupied by:
An employee, working in Eagle County who works an average of thirty hours per week
on an annual basis.
A retired individual, sucty years or older, who has worked a minimum of five years in
Eagle County for an average of thirty hours per week on an annual basis.
Notes:
A. A leave of absence may be granted for one year, subject to clear and convincing
evidence which shows a reason for leaving and a commitment to retum to the
VaiUEagle County area may be approved by the Towri. Said evidence shall be in
written form presented to the Town for review and recommendations 30 days prior
to ieaving. The Leave of Absence shall be for one year and may, at the discretion
of the Town, be extended for one year, but in no event shall it exceed two years.
The unit must be rented during said year or years to residents who comply with
occupancy requirements. Rental periods shall be not less than 30 days. After
verification and qualification of tenant(s), a copy of the executed lease shall be
furnished to the Town.
B. If the Employee Housing Unit is listed for sale and the owner must relocate to
another area, the unit may, upon approval of the Town, be rented prior to
completion of the sale to persons who comply with the occupancy requirements.
A letter must be sent to the Town of Vail Housing staff requesting permission to
rent ihe unit-until sold. A lease-of not less than {6) months must be provided to
the tenants with a sixty (60) day move out clause upon notification that the unit is
sold.
Town of Vail
Employee Housing Guidelines
Page 7 of 10
C. Occupants may request waivers to the provisions of this section to avoid hardship
by providing a written request to the Town of Vail Housing staff, which will then
be forwarded to the Town Council for their consideration.
D. Co-signers may be allowed but shall not occupy the unit unless the occupancy
requirements of this section are met. VI. ANNUAL VERIFICATION REQUIItED; PENALTIES FOR VIOLATION A. No later than February 1 st of each year, the owner of the restricted employee
housing unit shall submit two copies of a report, on a form to be obtained from the
Community Development Department, to the Town of Vail Housing Authority and
the Town of Vail Community Development Department verifying that the dwelling
unit continues to be owner occupied in accordance with Section V of the
Guidelines, that the occupant has worked thirty hours per week for the previous
year, and where the occupant has worked.
B. If the Town determines that there has been a violation of the occupancy standards,
the owner of the restricted employee housing unit shall be found to be in
noncompliance. Penalties the Town may assess against the owner include
eliminating resale gain and/or penalties found in the Town of Vail Municipal Code
Section 1.01.100. Any misrepresentation by an applicant in submittal material shall
disqualify the applicant from purchasing an Employee Housing Unit.
VII. SUBMITTAL REQUIREMENTS
In conjunction with completing an application to purchase an Employee Housing Unit, the
. applicant shall provide, upon request by the Town, the following documentation as proof of residency and employment:
A. Federal Income Tax retum forms. Applicant must provide the last four (4) years
of Federal Income Tax Returns, an audited financial statement, or acceptable
documentation to the Town.
B. Verification of current employment in Vail or Eagle County (i.e., wage stubs,
employer name, address and phone number or other appropriate documentation as
requested by the Town).
C. Landlord verification (proof of residency, physical address).
Town of Vail
Employee Housing Guidelines
Page 8 of 10
D. Valid Colorado Driver's License (address, issue date).
E. Prequalification for a loan from a bank or mortgage company.
F. Deposits for down payment shall be verified by the holder of such funds.
G. Any co-ownership interest other than joint tenancy or tenancy-in-common must be
approved by the Town.
H. Signed authorization from the applicant allowing the Town of Vail to discuss details with applicant's employer.
1. Any documentation which the Town deems necessary to make a determination.
VIII. FORECLOSURE
In the event of a foreclosure or of acceptance of a deed in lieu of foreclosure by the holder
(including here and hereinafter assigns of the holder) of the promissory note secured by a first
deed of trust on a deed restricted dwelling unit (hereinafter "the Property"), and subject to the
issuance of a public trustee's deed to the holder following the expiration of all statutory
redemption rights, the Town of Vail (the "Town") shall have the option to purchase the Property
which shall be exercised in the following manner:
a. Notice.
The holder shall give such notice to the Town as is required by law in the foreclosure
proceeding.
Said notice shall be sent by certified ma.il, return receipt requested, and addressed
as follows:
Senior Housing Policy Planner
Town of Vail
75 S. Frontage Road
Vail, CO 81675
b. Option to Purchase.
The Town shall have 30 days after issuance of the public trustee's deed or the acceptance
of a deed in lieu of fereclosure by the holder in which to exercise this option to purchase
by tendering to the holaer, in cash or certified funds, an amount equal to the redemption
price which would have been required of the borrower or any person who might be liable
upon a deficiency on the last day of the statutory redemption period(s) and any additional
reasonable costs incurred by the holder during the option period which are directly related
to the foreclosure.
Town of Vail
Employee Housing Guidelines
Page 9 of 10
c. Title.
Upon receipt of the option price, the holder shall deliver to the Town a special warranty
deed, conveying the property to the Town. The holder shall convey only such title as it
received through the public trustee's deed and will not create or participate in the creation
of any additional liens or encumbrances against the Property following issuance of the
public trustee0s deed to the holder. The holder shall not be liable for any of the costs of
conveyance to the Town or its designee.
d. Release. In the event that the holder is issued a public trustee's deed and the Town does not
exercise the option to purchase, as provided herein, the Town shall cause to be recorded
in the records of the Clerk and Recorder of Eagle County a full and complete release of
the describe covenants affecting the
Property which appear in said records in Book at Page . Such
release shall be placed of record within 14 days after demand therefor by the holder
following expiration of the option and a certified copy of the release shall be mailed to the
holder upon its recordation.
e. Perpetuities Savings Clause.
If any of the terms, covenants, conditions, restrictions, uses, limitations, obligations or
options created by this Option to Purchase shall be unlawful or void for violation of (a)
the rule against perpetuities or some analogous statutory provision, (b) the rule restricting
restraints on alienation, or 0 any other statutory or common la.w rules imposing like or
similar time limits, then such provision shall continue only for the period of the lives of the
current duly elected and seated Town Council of the Town of Vail, Vail, Colorado, their
now living-descendants, if any, and the survivor of them, plus twenty-one (21) years.
f. Successors and Assigns.
Except as otherwise provided herein, the provisions and covenants contained herein shall
inure to and be binding upon the heirs, successors and assigns of the parties hereto.
g. Modifications.
The parties hereto agree that-any-modification to this dption to purchase shall be effective
only when made be writing s signed by both parties and recorded with the Clerk and
Recorder of Eagle County, Colorado.
IX. For additional infoimation, contact the Housing Division of the Town of Vail Department
of Community Development.
Town of Vail
Employee Housing Guidelines ,
Page 10 of 10
MASTER DEED RESTRICTION AGREEMENT
FOR THE OCCUPANCY AND RESALE OF
RED SANDSTONE DEVELOPMENT
THE MASTER DEED RESTRICTION AGREEMENT FOR THE OCCUPANCY AND
RESALE OF RED SANDSTONE DEVELOPMENT (the Agreement) is made and entered
into this day of . 19_, by The Town of Vail (the owner of the property and
the improvements) and The Upper Eagle River Water and Sanitation District (the owner of the
property and the improvements) (hereinafter referred to as Decla.rants), for the benefit of the
parties and enforceable by the Town of Vail (hereinafter referred to as the Town.) ,
WITNESSETH:
WHEREAS, Declarants own the real property described in Exhibit A attached hereto and
incorporated herein. For purposes of the agreement, the real property and all dwellings,
appurtenances, improvements and fixtures associated therewith shall hereinafter be referred to as
the Property; and
WHEREAS, Declarants agree to restrict the acquisition or transfer of the Property to Qualified
Buyers, as that term is defined in this agreement. In addition, the declarants agrees that this
agreement shall constitute a resale agreement setting forth the maximum sales price for which the
property ma.y be sold (Maximum Sales Price), the amount of appreciation and the terms and
provision controlling the resale of the Property should Declarant's purchaser desire to sell its
interest in the Property at any time after the date of this Agreement. Finally, by this Agreement,
Declarants agrees to restrict the property against use and occupancy inconsistent with this
Agreement.
WHEREAS, Qualified Buyers are natural persons meeting the requirements set forth by the
Town of Vail Employee-Housing Guidelines or its substitute, as adopted by the Town of Vail, or
its successor, and in effect at the time of the closing of the sale from Declarants to the Qualified
Buyer, and who must represent and agree pursuant to this Agreement to occupy the Property as
their sole place of residence, not to engage in any business activity on the Property, other than
that permitted in that zone district or by applicable ordinance, and not to sell or otherwise transfer
the Property for use in a trade or business.
WHEREAS, an Owner is a person or persons who is/are a Qualified Buyer wbo acquires an
ownership interest in the Property in compliance with the terms and provisions of this Agreement;
it being understood that such person or persons shall be deemed an Owner hereunder only during
the period of his, her or their ownership interest in the Property and shall be obligated hereunder
for the full and complete performance and observance of all covenants, conditions and restrictions
contained herein during such period.
Town of Vail Page 1 of 18
Red Sandstone Development Master Deed Restriction
WHEREAS, a Unit is any of the units 1 to 18 which comprise the Property.
WHEREAS it is anticipated that individuals shall acquire an ownership interest in the
property or unit in the future and will be considered owners. Owners shall be obligated hereunder
for the full and complete performance and observation of all covenants, conditions and restrictions
contained herein.
NOW, THEREFORE, for value received, the receipt and sufficiency of which is hereby
acknowledged, Declarants hereby represent, covenant and agree as follows:
1. The use and occupancy of the Property shall henceforth be limited exclusively to housing
for natural persons who meet the definition of Qualified Buyers and their families.
2. An Owner, in connection with the purchase of this Property or Unit, must:
a) Occupy any Unit within this Property as his or her sole place of residence during the
time that such unit is owned;
b) Not engage in any business activity on or in such Unit, other than permitted in that zone
district or by applicable ordinance;
c) Sell or otherwise transfer such Unit only in accordance with this Agreement and the
, Town of Vail Employee Housing Guidelines; and
d) Not sell or otherwise transfer such Unit for use in a trade or business; and
e) Not permit any use or occupancy of such Unit except in compliance with this
Agreement.
3. Breach of Agreement: a. It shall be a breach of this Agreement for Owner to default in payment or other
obligations due or to be performed under a promissory note secured by a first deed
of trust encumbering the Property or a Unit. Owner must notify the Town, in
writing, of any notification received from a lender, or its assigns, of past due
payments or default in payment or other obligations due or to be performed under
a promissory note secured by a first deed of trust, as described herein, within five
calendar days of Owners notification from lender, or its assigns, or said default or
past due payments.
b. Upon notification from Owner, as provided above, or other notice of such default,
the Town ma,y offer loan counseling or distressed loan services to the Owner, if
any of these services are available, and is entitled to require the Owner to sell the
Property or a Unit to avoid the commencement of any foreclosure proceeding
against the Property or a Unit. In the event that the Town determines that sale of
the Property or a Unit is necessary, Owner shall immediately execute a standard
Listing Contract on forms approved by the Colorado Real Estate Commission with
Town of Vail Page 2 of 18
Red Sandstone Development Master Deed Restriction
the Town, providing for a 30-day listing period. At this time, the Owner shall
deposit with the Town an amount equal to one half percent (.5 of the estimated
value of the Unit. If a sales contract has not been executed within the initial 30-
day period, Owner shall extend the listing period for an additional 180 days,
provided such extension does not conflict with the statutory rights of any secured
creditors. The Town shall promptly advertise the Property for sale by competitive
bid to Qualified Buyers. At the time of closing, the Owner shall pay to the Town
an additional one and one half percent (1.5 for a maximum fee of two percent
, (2%). In the event of a listing of the Property pursuant to this Paragraph 3, the Town is entitled to require the Owner to accept the highest of any qualified bids
which satisfies the Owners financial or other obligations due under the promissory
note secured by a first deed of trust and deed of trust in favor of the Town, as
described herein, and to sell the Property to such qualified bidder.
c. Upon receipt of notice as provided in paragraphs 3a and 3b, Town shall have the
right, in its sole discretion, to cure the default or any portion thereof. In such
event, the Owner shall be personally liable to the Town for past due payments
made by the Town together with interest thereon at the rate specified in the
promissory note secured by the deed of trust; pius one percent (1 and atl actual
expenses of the Town incurred in curing the default. The Owner shall be required
by the Town to execute a promissory note secured by deed of trust encumbering
the Property in favor of the Town for the amounts expended by the Town as
specified herein, including future advances made for such purposes. The Owner
may cure the default and satisfy its obligation to the Town under this subparagraph
at any time prior to execution of a contract for sale, upon such reasonable terms as
specified by the Town. Otherwise, Owners indebtedness to the Town shall be
satisfied from the Owners proceeds at closing.
4. This Agreement shall constitute covenants running with the real property, described in
Exhibit A, as a burden thereon, for the benefit of, and shall be specifically enforceable by
the Town and their respective successors and assigns, as applicable, by any appropriate
legal action including but not limited to specific performance, injunction, reversion, or
eviction of non-complying owners and/or occupants.
5. In the event that an Owner desires to sell the Property or Unit, the Owner shall execute a
standard Listing Contract on forms approved by the Colorado Real Estate Commission
with the Town providing for a 180-day listing period, or such other time period as
required by the Town of Vail Affordable Housing Guidelines in effect at time of listing.
At this time, the Owner shall deposit with the Town an amount equal to one-half percent
(.5%) of the estimated value of the Unit. The Town shall promptly advertise the Property
or Unit for sale by campetitive bid to Qualified Buyers. At the time of closing, the Owner
shall pay to the Town an additional one and one-half percent (1.5-%). The Town may
charge a fee based on the amount financed for any conventional loans. The amount of this
- fee to be paid by the subsequent Owner shall be as set forth in the current Town of Vail
Town of Vail Page 3 of 18
Red Sandstone Development Master Deed Restriction
Employee Housing Guidelines and will be distributed to the Town of Vail Mortgage Fund
Account. This account shall be used in the event the Town desires to step in and cure
default, as provided for in Paragraph 23.
MAXIMUM SALES PRICE
6. In no event shall the Property or a Unit be sold for an amount (Maximum Sales Price) in
excess of the owners purchase price, plus an increase of three percent (3%) of such p.rice
per year from the date of purchase to the date of Owners notice of intent to sell (prorated
_ at the rate of .25 percent for each whole month for any part of a year). . "NOTHING HEREIN SHALL BE CONSTRUED TO CONSTITUTE A
REPRESENTATION OR GUARANTEE BY THE TOWN OF VAIL THAT ON
SALE THE OWNER SHALL OBTAIN THE MA,XIMUM SALES FRICE.
7. Determining Maximum Sales Price:
a. For the purpose of determining the Maxirrium Sales Price in accordance with this
Section, the Owner ma.y add to the amount specified in Paragraph 6 above, the
cost of Permitted Capital Improvements (as defined in Exhibit B). The amount
shall not exceed ten percent (10%) of the initial listed purchase price set forth in
paragraph 6 above. For every ten-year (10) period, from the date of original
purchase and deed restriction, another ten percent of the purchase price may be
added to the value of the property for capital improvements. In calculating such
amount, only those Permitted Capital Improvements identified in Exhibit B hereto
shall qualify for inclusion. All such Permitted Capital Improvements installed or
constructed over the life of the unit shall qualify.
b. Permitted Capital Improvements shall not include any changes or additions to the
Property made by the Owner during construction or thereafter, except in
accordance with Paragraph 7a above. Permitted Capital Improvements shall not
increase the base price, even if made or installed during original construction. ,
c. In order to qualify as Permitted Capital Improvements, the Owner must furnish to
the Town the following information with respect to the improvements which the
Owner seeks to include in the calculation of Maximum Sales Price:
1) Original or duplicate receipts to verify the actual costs expended by the
Owner for the Permitted Capital Improvements;
2) Owners affidavit verifying that the receipts are valid and correct receipts
tendered at the time of purchase; and
Town of Vail Page 4 of 18
Red Sandstone Development Master Deed Restriction
3) True and correct copies of any building permit or certificate of occupancy
required to be issued by the Town of Vail Building Department with
respect to the Permitted Capital Improvements.
d. For the purpose of determining the Maxirrium Sales Price in accordance with this
Section, the Owner may also add to the amount specified in Paragraphs 6 and 7a,
the cost of any permanent improvements constructed or installed as a result of any
_ requirement imposed by any governmental agency, or Home Owners Association,
provided that written certification is provided to the Town of both the applicable
requirement and the information required by Paragraph 7c, 1- 3. e. In calculating the costs under Paragraphs 7a and 7d, only the Owners actual out-
of-pocket costs and expenses shall be eligible for inclusion. Such amount shall not
include an amount attributable to Owners sweat equity or to any appreciation in
the value of the improvements.
8. Owner shall not permit any prospective buyer to assume any or all of the Owners
customary closing costs nor accept any other consideration which would cause an increase
in the purchase price above the bid price so as to induce the Owner to sell to such
prospective buyer.
9. In the event that one qualified bid is received equal to the Maxirrium Sales Price herein
established, the Property shall be sold to such bidder at the Maximum Sales Price; and in
the event Owner receives two or more such bids equal to the Maxirrium Sales Price, the
Qualified Buyer shall be selected according to the priority for Sale Units set forth in the
Town of Vail Employee Housing Guidelines; and, in the event that all such qualified
bidders are of equal priority pursuant to the Guidelines, the Qualified Buyer shall be
selected by lottery among the qualified buyers, whereupon the Property or Unit shall be
sold to the winner of such lottery at the Maxirrium Sales Price. If the terms of the
. proposed purchase contract, other than price, as initially presented to the owner, are unacceptable to the Owner, there shall be a mandatory negotiation period of three (3)
_ business days to allow the Seller and potential buyer to reach an agreement regarding said
terms,.including but not limited to, the closing date and financing contingencies. If, after
the negotiation period is over, the Seller and buyer have not reached an agreement, the
next bidders offer will then be presented to the Seller for consideration and a three (3)
business day negotiating period will begin again. The seller may reject any and all bids,
however, the Owner is subject to the provisions in the Town of Vail Employee Housing
Guidelines pertaining to the listing fee. Bids in excess of the Maximum Sales Price shall
be rejected. If all bids are below Maximum Sales Price, Owner ma,y accept the highest
qualified bid. If all bids are below Maximum Sales Price and two or more bids are for the
same price, the Qualified Buyer shall be selected by lottery from among the highest
qualified bidders.
10. In the event that title to the Property or a Unit vests by descent in individuals and/or
Town of Vail Page 5 of 18
Red Sandstone Development Master Dced Restriction
entities who are not Qualified Buyers as that term is defined herein (hereinafter Non-
Qualified Transferee(s)), the Property or Unit shall immediately be listed for sale as
provided in Paragraph 5 above (including the payment of the specified fee to the Town),
and the highest bid by a Qualified Buyer, for not less than ninety-five percent (95%) of the
Maximum Sales Price or the appraised market value, whichever is less, shall be accepted;
if all bids are below ninety-five percent (95%) of the Maximum Sales price or the .
appraised market value, the Property or Unit shall continue to be listed for sale until a bid
in accordance with this section is ma.de, which bid must be accepted. The cost of the
appraisal shall be paid by the Non-Qualified Transferee(s). , a. Non-Qualified Transferee(s) shall join in any sale, conveyance or transfer of the
Property or Unit to a Qualified Buyer and shall execute any and all documents
necessary to do so; and
b. Non-Qualified Transferee(s) agree not to: 1) occupy the Property or said Unit; 2)
rent all or any part of the Property or Unit, except in strict compliance with
Paragraph 14 hereof; 3) engage in any other business activity on or in the Property
or Unit; 4) sell or otherwise transfer the Property or Unit except in accordance
with this Agreement and the Affordable Housing Guidelines; or 5) sell or
otherwise transfer the Property or Unit for use in a trade or business.
c. The Town, or their respective successors, as applicable, shall have the right and
option to purchase the Property or Unit, exercisable within a period of fifteen (15)
calendar days after receipt of any sales offer submitted to the Town by a Non-
Qualified Transferee(s), and in the event of exercising their right and option, shall
purchase the Property or Unit from the Non-Qualified Transferee(s) for a price of
ninety-five percent (95%) of the Maximum Sales Price, ar the appraised market
value, whichever is less. The offer to purchase shall be made by the Non-Qualified
Transferee within fifteen (15) days of acquisition of the Property or Unit.
c. Where the provisions of this Paragraph 10 apply, the Town may require the Owner
to rent the Property or Unit in accordance with the provisions of Paragraph 14,
below.
OWNER RESIDENCE
11. The Property and all Units shall be and is/are to be utilized only as the exclusive and
permanent place of residence of an Owner. A permanent residence shall mean the home
or place in which ones habitation is fixed and to which one, whenever he or she is absent,
has a present intention of retuming after a departure or absence therefrom, regardless of
the duration of absence. In determining what is a perrnanent residence, the Town staff
shall take the following circumstances relating to the owner of the residence into account:
business pursuits, employment, income sources, residence for income or other tax
purposes, age, marital status, residence of parents, spouse and children if any, location of
Town of Vail Page 6 of 18
Red Sandstone Development Master Deed Restriction
personal and real property, and motor vehicle registration.
12. In the event Owner changes domicile or ceases to utilize the Property or Unit as his sole
and exclusive place of residence, the Property or Unit will be offered for sale pursuant to
the provisions of Paragraph 10 of this Agreement. Owner shall be deemed to have
changed Owners domicile by becoming a resident elsewhere or accepting permanent
employment outside Eagle County, or residing on the Property or Unit for fewer than nine
(9) months per calendar year without the express written approval of the Town. Where
the provisions of this Paragraph 14 apply, the Town may require the Owner to rent the
Property or Unit in accordance with the provisions of Paragraph 14, below. ,
13. If at any time the Owner of the Property or Unit also owns any interest alone or in
conjunction with others in any developed residential property or dwelling unit(s) located in
Eagle County, owner agrees to immediately list said other property or unit for sale and to
sell Owners interest in such property at a sales price comparable to like units or properties
in the area in which the property or dwelling unit(s) are located. In the event said other
property or unit has not been sold by Owner within one hundred twenty (120) days of its
listing, then Owner hereby agrees to immediately list this Property or Unit for sale
pursuant to the provisions of Paragraph 10 of this Agreement. It is understood and agreed
between the parties hereto that, in the case of an Owner whose business is the
construction and sale of residential properties or the purchase and resale of such
properties, the properties which constitute inventory in such an Owners business shall not
constitute other developed residential property or dwelling unit(s) as those terms are used
in this Paragraph 13.
RENTAL
14. Owner may not, except with prior written approval of the Town, and subject to Town of
Vail's conditions of approval, rent the Property or Unit for any period of time. Prior to
occupancy, any tenant must be approved by the Town and Homeowners Association, if
applicable. The Town shall not approve any rental if such rental is being made by Owner
to utilize the Property or Unit as an income producing asset, except as provided below,
and shall not approve a lease with a rental term no less than thirty (30) days and no more
than six (6) months without clear and convincing evidence that a lease longer than six
months (6) is necessary. A signed copy of the lease must be provided to the Town prior
to occupancy by any tenant. Any such lease approved by the Town shall be equivalent to
the monthly expenses for the cost of principal and interest payments, taxes, property
insurance, condominium or homeowners assessments, utilities remaining in owners name,
plus an additional twenty dollars ($20) and a reasonable (refundable) security deposit.
The requirements of this paragraph shall not preclude the Owner from sharing occupancy
of the Property or unit with non-owners on a rental basis provided Owner continues to
meet the obligations contained in this Agreement, including Paragraph 11.
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Red Sandstone Development Master Deed Restriction
15. IN NO EVENT SHALL THE OWNER CREATE AN ADDITIONAL DWELLING
IJNIT, AS DEFINED IN THE TOWN OF VAIL LAND USE CODES, IN OR ON THE
PROPERTY. '
16. NOTHING HEREIN SHALL BE CONSTRUED TO REQUIRE THE TOWN OF VAIL
TO PROTECT OR INDENIlVIFY THE OWNER AGAINST ANY LOSSES
ATTRIBUTABLE TO THE RENTAL, INCLUDING (NOT BY WAY OF
LIMITATION) NON-PAYMENT OF RENT OR DAMAGE TO THE PREMISES; NOR
TO REQUIRE THE TOWN TO OBTAIN A QUALIFIED TENANT FOR THE OWNER IN THE EVENT THAT NONE IS FOUND BY THE OWNER. _
BREACH
17. In the event that the Town has reasonable cause to believe the Owner is violating the
provisions of this Agreement, the Town, by its authorized representative, may inspect the
Property or Unit between the hours of 8:00 a.m and 5:00 p.m., Monday through Friday,
after providing the Owner with no less than 24 hours written notice.
18. The Town of Vail, in the event a violation of this Agreement is discovered, shall send a
notice of violation to the Owner detailing the nature of the violation and allowing the
owner fi$een (15) days to cure. Said notice shall state that the Owner may request a
hearing before the Town Housing Authority within fifteen (15) days to determine the
merits of the allegations. If no hearing is requested and the violation is not cured within
the fifteen (15) day period, the Owner shall be considered in violation of this Agreement.
If a hearing is held before the Town Housing Authority, the decision of the Town based
on the record of such hearing shall be final for the purpose of determining if a violation has
occurred.
If the Town determines that there has been a violation of the occupancy standards, the
owner of the restricted employee-housing unit shall be found to be in non-compliance.
Penalties the Town may assess against the owner include eliminating resale gain (per
paragraph 7), andlor penalties found in the Town of Vail Municipal Code Section
1.01.100.
REMEDIES
19. There is hereby reserved to the parties hereto any and all remedies provided by law for
breach of this Agreement or any of its terms. In the event the parties resort to litigation
with respect to any or all provisions of this Agreement, the prevailing party shall be
entitled to recover damages and costs, including reasonable attorneys fees.
20. In the event the Property or Unit is sold andlor conveyed without compliance herewith,
such sale and/or conveyance shall be wholly null and void and shall confer no title
whatsoever upon the purported buyer. Each and every conveyance of the Property or
Unit, for all purposes, shall be deemed to include and incorporate by this reference, the
Town of Vail Page 8 of 18
Red Sandstone Development Master Deed Restriction
covenants herein contained, even without reference therein to this Agreement.
21. In the event that the Owner fails to cwe any breach, the Town may resort to any and all
available legai action, inciuding, but not limited to, specific performance of this Agreement
or a mandatory injunction requiring sale of the Property or Unit by Owner as specified in
Paragraphs 3, 10, 12, and 13. The costs of such sale shall be taxed against the proceeds of
the sale with the balance being paid to the Owner.
22. In the event of a breach. of any of the terms or conditions contained herein by the Owner, his heirs, successors or assigns, the Towns initial listed purchase price of the Property or
Unit as set forth in Paragraph 6 of this Agreement shall, upon the date of such breach as
determined by the Town, automatically cease to increase as set out in Paragraph 6 of this
Agreement, and shall remain fixed until the date of cure of said breach.
FORECLOSURE
23. The Town, pursuant to the Option to Buy attached hereto as Exhibit C, the terms of
which are incorporated in this Agreement by this reference as if fully set forth herein, shall
release and waive its ability to enforce the resale deed restrictions contained herein, in the
event of foreclosure or the acceptance of a deed in lieu of foreclosure, provided that said
Option to Buy grants to the Town the option to acquire the Property or Unit within thirty
(30) days after the issuance of a public trustees deed to the holder (including assigns of the
holder) of the promissory note secured by a first deed of trust for an option price not to
exceed the redemption price on the last day of all statutory redemption period(s) and any
additional reasonable costs incurred by the holder during the option period which are
directly related to the foreclosure.
In the event that the Town exercises the option pursuant to the terms of that certain
Option to Buy, described above, the Town and/or its designee, ma.y sell the Propel-ty or
Unit to Qualified Buyers as that term is defined herein, or rent the Property or Unit
according to paragraph 14 until such time that the Property or Unit can be sold to a
Qualified Buyer in accordance with the Town of Vail Affordable Housing Guidelines and
the Master Deed Restriction for Red Sandstone Development.
GENERAL PROVISIONS
24. Notices. Any notice, consent or approval which is required to be given hereunder shall be
given by mailing the same, certified mail, return receipt requested, properly addressed and
with posting fully prepaid, to any address provided herein or to any subsequent mailing
address of the party as long as prior written notice of the change of address has been given
to the other parties to this Agreement.
Said notices, consents and approvals shall be sent to the parties hereto at the following
. addresses unless otherwise notified in writing:
Town of Vail Page 9 of 18
Red Sandstone Development Master Deed Restriction
T'o Declarants: Upper Eagle River Water and Sanitation District
846 Forest Road
Vail, CO 81657
Town of Vail
75 S. Frontage Road . Vail, CO 81657
To the Town: Senior Housing Policy Planner
Town of Vail 75 S. Frontage Road
Vail, CO 81657
To Owner: To be determined by a later recorded memorandum encumbering
each individual Property or Unit.
25. Exhibits. All exhibits attached hereto (Exhibits A, B and C) are incorporated herein and
by this reference made a part hereof.
26. Severabilitv. Whenever possible, each provision of this Agreement and any other related
document shall be interpreted in such a manner as to be valid under applicable law; but if
any provision of any of the foregoing shall be invalid or prohibited under said applicable
law, such provisions shall be ineffective to the extent of such invalidity or prohibition
without invalidating the remaining provisions of such documents.
27. Choice of Law. This Agreement and each and every related document is to be governed
and construed in accordance with the laws of the State of Colorado.
28. Successors. Except as otherwise provided herein, the provisions and covenants contained
herein shall inure to and be binding upon the heirs, successors and assigns of the parties.
29. Section Headings. Paragraph or section headings within this Agreement are inserted
solely for convenience or reference, and are not intended to, and shall not govern, limit or
aid in the construction of any terms or provisions contained herein.
30. Waiver. No claim of waiver, consent or acquiescence with respect to any provision of this
Agreement shall be valid against any party hereto except on the basis of a written
instrument executed by the parties to this Agreement. However, the party for whose
benefit a condition is inserted herein shall have the unilateral right to waive such condition.
Town of Vail Page ] 0 of 1 S
Red Sandstone Development Master Dced Restriction
31. Gender and Number. Whenever the context so required herein, the neuter gender shall
include any or all genders and vice versa and the use of the singular shall include the plural
and vice versa.
32_ Personal Liabilitv. Owner agrees that he or she shall be personally liable for any of the
transactions contempla,ted herein.
. 33. Further Actions. The parties to this Agreement agree to execute such further documents
and take such further actions as may be reasonably required to carry out the provisions
and intent of this agreement or any agreement or document relating hereto or entered into in connection herewith.
34. Modifications. The parties to this Agreement agree that any modifications of this
Agreement shall be effective only when ma.de by writings signed by both parties and
recorded with the Clerk and Recorder of Eagle County, Colorado. Notwithstanding the
foregoing, the Town reserves the right to amend this Agreement unilaterally where
deemed necessary to effectuate the purpose and intent of this Agreement, and where such
unilateral action does not materially impair the Owners rights or any lender rights under
this Agreement.
35. Owner and Successors. The term Owner shall mean the person or persons who shall
acquire an ownership interest in the Property or Unit in compliance with the terms and
provisions of this Agreement; it being understood that such person or persons shall be
deemed an Owner hereunder only during the period of his, her or their ownership interest
in the Property or Unit and shall be obligated hereunder for the full and complete
performance and observance of all covenants, conditions and restrictions contained herein
during such period.
Town of Vail Page 11 of 18
Red Sandstone Development Master Dced Restriction
IN WITNESS WHEREOF, the parties hereto have executed this instrument on the day
and year above first written.
DECLARANTS: Upper Eagle River Water and Sanitation District
846 Forest Road
Vail, CO 81657
Title: "
STATE OF )
} ss.
COUNTY OF )
The foregoing instrument was acknowledged before me this day of
19_, by
Witness my hand and official seal.
My commission expires:
Notary Public
Town of Vail Page 12 of 18
Red Sandstone Development Master Deed Restriction
IN WITNESS WHEREOF, the parties hereto have executed this instrument on the day
and year above first written.
DECLARANTS: Town of Vail
75 S. Frontage Road
Vail, CO 81657
Title: STATE OF )
) ss.
COUNTY OF )
The foregoing instrument was acknowledged before me this day of
19_, by
Witness my hand and official seal.
My commission expires:
Notary Public
Town of Vail Page 13 of 18
Red Sandsrone Development Master Deed Restriction
ACGEPTANCE BY THE TOWN OF VAIL
The foregoing Master Deed Restriction Agreement for the Occupancy and Resale- of RED
SANDSTONE DEVELOPEMTN of the Town of Vail and its terms are hereby adopted and
declared by the Town of Vail.
TOWN OF VAIL
By:
Title
STATE OF COLORADO )
) ss.
COUNTY OF EAGLE )
The foregoing instrument was acknowledged before me this day of
19 . by
Witness my hand and official seal.
My commission expires:
Notary Public
Town of Vail Page 14 of i S
Red Sandstone Development Master Dced Restriction
EXHIBIT A
Legal Description for the RED SANDSTONE DEVELOPMENT
Town of Vail Page 15 of 18
Red Sandstone Development Master Deed Restriction
EXHIBIT B
Permitted Capital Improvements
1. The term Permitted Capital Improvement as used in the Agreement shall only include the
following:
a. Improvements or fixtures erected, installed or attached as permanent, functional,
non-decorative improvements to real property, excluding repair, replacement
and/or maintenance improvements;
b. Improvements for energy and water conservation;
c. Improvements for health and safety protection devices;
d. Improvements to add andJor finish permanent/fixed storage space; and/or
e. Improvements to finish unfinished space.
2. Permitted Capital Improvements as used in this Agreement shall NOT include the
following:
a. Upgrades/replacements of appliances, plumbing and mechanical fixtures, carpets
and otber similar items included as part of the original construction of the unit;
b. The cost of adding decks and balconies, and any extension thereto;
c. Jacuzzis, saunas, steam showers and other similar items;
d. Improvements required to repair, replace and maintain existing fixtures, appliances,
plumbing and mechanical fixtures, painting, carpeting and other similar items;
and/or;
e. Upgrades or addition of decorative items, including lights, window coverings and
other similar items.
3. All Permitted Capital Improvement items and costs shall be approved by the Town staff
prior to being added to the Maxirrium Resale Price as defined herein.
Town of Vail Page 16 of 18
Red Sandstone Development Master Dced Restriction
EXHIBIT C
OPTION TO BUY
In the event of a foreclosure by the holder (including here and hereinafter assigns of the
- holder) of the promissory note secured by a first deed of trust on a dwelling unit within Red
Sandstone Development (hereinafter the Property), and subject to the issuance of a public trustees ` -
deed to the holder following the expiration of all statutory redemption rights, the Town of Vail
(the Town) shall have the option to purchase the Property which shall be exercised in the
following manner:
a. Notice.
The holder shall give such notice to the Town as is required by law in the foreclosure
proceeding.
Said notice shall be sent by certified mail, return receipt requested, and addressed
as follows:
Senior Housing Policy Planner
Town of Vail
75 S. Frontage Road
Vail, CO 81675
b. Option to Purchase.
The Town shall have 30 days after issuance of the public trustees deed in which to
_ exercise this option to purchase by tendering to the holder, in cash or certified funds, an
amount equal to the redemption price which would have been required of the borrower or
any person who might be liable upon a deficiency on the last day of the statutory
redemption period(s) and any additional reasonable costs incurred by the holder during the
option period which are directly related to the foreclosure.
c. Title.
Upon receipt of the option price, the holder shall deliver to the Town a special warranty
deed, conveying the property to the Town. The holder shall convey anly such title as it
received through the public trustees deed and will not create or participate in the creation
of any additional liens or encumbrances against the Property following issuance of the
Town of Vail Page 17 of 18
Red Sandstone Development Master Deed Restriction
public trustees deed to the holder. The holder shall not be liable for any of the costs of
conveyance to the Town or its designee.
d. Release.
In the event that the holder is issued a public trustees deed, and the Town does not
exercise the option to purchase, as provided herein, the Town shall cause to be recorded . in the records of the Clerk and Recorder of Eagle County a full and complete release of the describe covenants affecting the Property which appear in said
records in Book at Page . Such release shall be placed of record
within 14 days after demand therefor by the holder following expiration of the option and
a certified copy of the release shall be mailed to the holder upon its recordation.
e. Perpetuities Savings Clause.
If any of the terms, covenants, conditions, restrictions, uses, limitations, obligations or
options created by this Option to Purchase shall be unlawful or void for violation of:(a)
the rule against perpetuities or some analogous statutory provision, (b) the rule restricting
restraints on alienation, or (c) any other statutory or common law rules imposing like or
similar time limits, then such provision shall continue only for the period of the lives of the
current duly elected and seated Town Council of the Town of Vail, Vail, Colorado, their
now living descendants, if any, and the survivor of them, plus twenty-one (21) years.
f. Successors and Assigns.
Except as otherwise provided herein, the provisions and covenants contained herein shall
inure to and be binding upon the heirs, successors and assigns of the parties hereto.
g. Modifications.
The parties hereto agree that any modification to this option to purchase shall be effective
only when ma.de be writing s signed by both parties and recorded with the Clerk and
Recorder of Eagle County, Colorado.
Page 18 of 18
MEMORANDUM OF ACCEPTANCE FOR DEED RESTRICTION ON
UNIT RED SANDSTONE DEVELOPMENT.
OCCUPANCY AND RESALE DEED RESTRICTION,
AGREEMENT AND COVENANT
RECITALS:
WHEREAS, , the Buyer, is purchasing from
- , the Seller, at a price of $ ; a condominium unit described as:
also known as , Eagle County, Colorado; and
WHEREAS, the Seller of that unit is requiring, as a prerequisite to the sale transaction,
that the Buyer acknowledge and agree to the terms, conditions and restrictions found in those
certain instruments entitled The Red Sandstone Master Deed Restriction, for the occupancy and
resale of Red Sandstone Development recorded on , in Book
at Page the records of Eagle County, Colorado and the Town of Vail Employee Housing
Guidelines adopted by the Town of Vail Town Council.
NOW, THEREFORE, as an inducement to the Seller to sell the referenced unit, the
Buyer:
1. Acknowledges that the undersigned has carefully read the entire Master Deed
Restriction, and the Town of Vail Employee Housing Guidelines, has had the
opportunity to consult with legal and financial counsel concerning them and fully
understands them.
2. Hereby accepts the Master Deed Restriction as recorded above, in its entirety, with
the following changes and/or additions:
a. Date of the Agreement is agreed to be
b. Purchase price is agreed to be $
c. Square footage of the Unit is agreed to be
Page t of 3
Individual Memo of Acceptance
Red Sandstone Development
Town of Vail
d. The total amount of Permitted Capital Improvements for the first ten year
period following the execution of this document, pursuant to Section 7 is
agreed to be $
e. Notice to the Buyer, pursuant to Section 24, should be sent to:
3. Directs that this memorandum be placed of record in the real estate records of
Eagle County, Colorado.
IN WITNESS WHEREOF, the parties hereto have executed this instrument of the day
and year first above written.
BUYER(S):
BY: By:
STATE OF COLORADO )
) ss.
COUNTY OF EAGLE )
The foregoing instrument was acknowledged before me this day of ,
19_, by
WITNESS my hand and official seal.
My commission expires:
Notary Public
Page 2 of 3
Individuai Memo of Acceptance
Red Sandstone Development
Town of Vail
ACCEPTANCE BY THE TOWN OF VAIL
By:
Andrew M. Knudtsen, Senior Date
Housing Policy Planner
STATE OF COLORADO )
) ss.
COUNTY OF EAGLE )
The foregoing instrument was acknowledged before me this day of ,
19_, by Andrew M. Knudtsen.
WITNESS my hand and official seal.
My commission expires:
Notary Public
Page 3 of 3
Individual Memo of Acceptance
Red Sandstone Development
Town of Vail
MEMORANDUM
TO: Town Council
FROM: Community Development Department
DATE: September 1, 1998
SUBJECT: Proposed Schedule for GRFA Text Amendments to the Zoning Regulations
1. BACKGROUND
On July 28, 1998, the Vail Town Council directed staff to begin work on a text amendment
to the Zoning Regulations relating to multi-family structures. The intent of the amendment
is to provide the ability to construct exterior additions to multi-family structures utilizing
additional GRFA (250) and to allow for the interior conversion of building area to GRFA.
The amendment would result in greater consistency of the implementation of the GRFA
regulations relative to single-family, duplex and multi-family structures.
Prior to beginning work on the project, the Council requested that staff present a proposed
schedule for the completion of the text amendment project.
In response to the Council's request, staff is proposing the following schedule:
* September 14-PEC worksession to discuss alternatives and receive input
* September 15-Town Council worksession to discuss alternatives and receive input
* September 28-PEC final review of proposed text amendments
* October 6-Town Council worksession and first reading of an ordinance
October 20-Town Council final review and second reading of an ordinance
II. STAFF RECOMMENDATION
Staff recommends that the Town Council approve the proposed schedule for the completion of a
text amendment to the Town of Vail Zoning Regulations relating to the implementation of GRFA for
multi-family structures.
1
r
MEMORANDUM
TO: Town Council
FROM: Community Development Department
DATE: September 1, 1998
SUBJECT: A worksession to discuss an amendment to Special Development District No. 4
(Cascade Village), revising the Glen Lyon Office Building site (Area D), located
at 1000 S. Frontage Road WesULot 54, Glen Lyon Subdivision. . Applicant: Glen Lyon Office Building Partnership, represented by Kurt
Segerberg
Planner: Dominic Mauriello
Attached is a PEC memo regarding a proposal to amend the Glen Lyon Office Building site.
The proposal addressed in the PEC memo provided for the development of a residential
duplex on the west end of the site and an additional office building on the east end of the site.
Additionally, based on direction received by the PEC, the applicant has provided an
alternative set of plans providing for the enlargement of the existing office building to the west,
a structured parking lot, and a residential building on the east end of the site containing two
EHU's and one free-market condo.
The applicant is seeking preliminary direction from the Council on the proposed plans and
which direction they should pursue.
No format action is requested.
F:\EVERYON E\COUNCI LWIEMOS\98\G LOB901. W PD
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4
MEMORANDUM
, TO: Planning and Environmental Commission
FROM: Community Development Department
DATE: August 10, 1998
SUBJECT: A worksession to discuss an amendment to Special Development District No. 4
(Cascade Village), revising the Glen Lyon Office Buildingsite (Area D), located at
1000 S. Frontage Road WesULot 54, Glen Lyon Subdivision. Applicant: Glen Lyon Office Building Partnership, represented by Kurt
Segerberg
Planner: Dominic Mauriello/George Ruther
1. DESCRIPTION OF THE REQUEST
The applicant is proposing to amend SDD #4, as it relates to the Glen Lyon Office Building
property, Area D. The applicant is proposing to construct a 8,161 sq. ft. (gross) office building on
the east end of the site and a 6,408 sq. ft. residential duplex on the west end of the site. The
proposal is substantially less development than previously approved for Area D.
The proposal also includes extending the existing parkin.g area to accommodate the new parking
requirement, aligning the entrance of the parking lot with that of the Vail Professional Building
directly across the street, and re-stripping of the traffic lanes on the S. Frontage Road to
accommodate turn lanes and bike lanes.
The original Cascade Village SDD was approved in 1976 and has since been amended several
times. The development plan approved in 1988 for this area included additional office space
and a micro-brewery.
Please refer to the Description of the Previous Approval and the Zoning Analysis for a
comparison of the previous approval to-the present proposal.
I1. DESCRIPTION OF PREVIOUS APPROVAL
Staff has summanzed the information for the Cascade Village SDD that pertains to Area D
below:
1. Permitted Uses: Business and professional offices. Please note that
other uses are also listed as allowed in the SDD.
2. Density - Dwelling Units: Three dwelling units are allowed, two of which shall
be employee dwelling units.
1
3. Density - GRFA: The GRFA for the EHU's are to be a minimum of
795 square feet and 900 square feet. These
dwelling units shall be restricted as Type III EHU's.
. The free market unit shall not exceed 1,630 square
feet.
4. Commercial Square Footage: Total office area for Area D shall not exceed 32,314
square feet. The existing building is 14,000 sq. ft. in
gross area.
5. Setbacks: Setbacks shall be as indicafed on the approved
development plans, which are as follows: " -
N: 2 feet
S: 8 feet
E: 30 feet
W: 15 feet
Gore Creek: 50 feet
6. Height: A maximum of 51 % of the roof can have a height
between 32 and 40 feet. A minimum of 49% of the
roof area shall have a height under 32 feet.
7. Site Coverage: No more than 37% of the total site area shall be
covered by buildings.
8. Landscaping: 60% of the area shall be landscaped.
9. Parking: A minimum of one hundred spaces shall be located
in the parking structure. Parking shall conform to
Town of Vail parking requirements. Please note
that there are other standards regarding parking tied
specifically to the operation of the micro-brewery.
2
~
III. ZONfNG ANALYSIS
The development statistics for the proposed buildings in Area D are shown below:
Standard Allowed by SDD (previously) Proposed Difference
Height: 51 % max. 40 feet 37739.4' (office building) NA
49% max. 32 feet 35' (duplex)
Setbacks: Per development plan: NA
N: 2 feet N: 29' (existing)
S: 8 feet S: 14'
E: 30 feet E: 25'
W: 15 feet W: 16'
Stream Setback: 50 feet from centerline 52' NA
Site Coverage: 37% or 28,974 sq. ft. 15% (11,648 sq. ft.) -17,326 sq. ft.
Landscaping: 60% or 46,985 sq. ft. 59% (46,202 sq. ft.) - 783 sq. ft.
Parking: Per Town of Vail regulations 66 req./65 provided 1 space
Commercial Floor
Area: 32,314 sq. ft. 22,161 sq. ft. total -10,153 sq. ft.
Density: 1 free market DU allowed 2 dwelling units 1 dwelling unit
2 EHU's required 0 EHU's -2 EHU's
GRFA: DU - 1,630 sq. ft. 6,408 sq. ft. 4,778 sq. ft.
EHU's - 1,479 sq. ft. total min. 0 sq. ft. -1,479 sq. ft.
Loading and Delivery: 1 berth required 0 provided -1 berth
Interior parking/ .
Landscaping: per code 310 sq. ft. (1.6%) -8.4%
3
IV. DISCUSSION ISSUES
1. Building Height
Building height is one aspect of the proposal that exceeds the development standards listed in the
SDD. For the 1988 approval of the micro-brewery, building height standards were as follows:
• Maximum of 51 % of the roof was allowed to range from 32 feet to 40 feet.
• A minimum of 49% of the roof was required to be less than 32 feet.
The applicant is proposing a building that is 39.4 feet tall. Should the applicant design the buildings
consistent with this requirement or is a standard height limitation more appropriate? The Arterial
Business Zone District (across the street) has a similar standards for building height. That district
requires that 30% of the building under 32' and 70% up to 40' in height. Should this also be applied
here?
2. Landscaping and Parking
The Zoning Code requires that an area equal to 10% of the paved parking area be accommodated
within the parking area in order to breakup the large expanse of pavement and provide landscaping
to reduce the overall scale of the parking area. The site, as currently planned, does not provide a
significant buffer between the parking area and the Frontage Road. In fact, none of the landscape
landscape buffer aiong fhe frontage is provided "on-site." Staff believes the interior landscape
standard should be applied to this proposal as is applied to other projects throughout Town. The
implication is that the applicant will need to reduce the number of parking spaces and hence must
therefore reduce the amount of building floor area proposed on-site. Additionally, the staff believes
the applicant should meet the code with regard to the number of parking spaces provided.
3. Architectural Character
The applicant is not proposing any improvements to the existing building. Staff believes that
architectural improvements should be made at this time to the existing building in order to improve
its appearance and to improve the architectural quality and style of the site.
4. Laading
The proposal will provide 22,161 sq. ft. of gross office area on-site. The Zoning Regutations require
one loading berth for office uses in excess of 10,000 sq. ft. in gross floor area. A loading berth is
required to be 12' wide and 25' long. The proposed plan does not include a loading berth. Loading
and delivery is currently accommodated off of the Frontage Road. Should this requirement be met?
5. Employee Housing
The applicant is not proposing any employee housing units in conjunction with this proposal. The
scale of the project and the type of use proposed will not generate as many employees as the
previous approval, as that project included a micro-brewery and restaurant. However, the office use
proposed will generate the need for employee housing. The previous approval required 2 EHU's.
A recent study (June 1998) on Town of Vail businesses shows that offices in Vail, on average,
operate with 5.86 employees per 1,000 sq. ft. of net leasable floor area. With other SDD projects
the Town Council has required that 30% of the demand generated be accommodated either on-site
4
or off-site, in the form of deed restricted housing. The accepted standard for minimum square
footage of housing required per person is 350 sq. ft. If we apply these numbers to this project we
find the following:
fntire Development:
? 16,494 sq. ft. (net leasable floor area) x 5.86 employees/1,000 sq. ft. = 96.65
employees
? Employees to provide housing for = 96.65 x 30% = 29 employees
? Translates to 10,150 sq. ft. of housing (14.5 two-bedroom units at 700 sq. ft. each)
New Impact Only: ? 5,400 sq. ft. (net leasable floor area) x 5.86 employees/1,000 sq. ft. = 31.64
employees
? Employees to provide housing for = 31.64 x 30% = 9.5 employees
? Translates to 3,325 sq. ft. of housing (5 two-bedroom units at 700 sq. ft. each)
Is it appropriate to evaluate the employee housing impacts of this development and to require
employee housing? Is this evaluation a substantial departure in philosophy from the previous
approvals (although the previous approval was made 10 years ago)? Staff had recommended that
the applicant provide at least one EHU on-site, based on the previous approval, however, recent
SDD's have been required to provide housing more in concert with the impacts generated (i.e., Austria Haus). Provide the applicant and the staff with direction on this issue.
6. Utilities
The previous approval for this site required that all utilities be placed underground. Staff continues
to believe that this should be required. This improvement should either be completed as part of this
project or the applicant shall install the proper conduit with this development and provide a cash
deposit or letter of credit insuring the under grounding within a reasonable period of time.
7. Snow Storage
The current standard for snow storage being utilized by staff is an area equal to 30% of the paved
parking area. These areas cannot conflict with trees and other impediments. The current plan does
not accommodate snow storage. Staff believes that snow storage areas must be provided on-site.
These areas must be logically located given typical snow plowing operations.
8. Trees
There are numerous large trees located on-site. The proposed plan develops very close to these
trees. Staff believes that the development must observe these trees and must provide a detailed
plan for ensuring their survival. Staff believes that no grading, paving, or disturbance should occur
within 15' of the base of these trees and that a tree expert shall evaluate the effect of this
development on the trees.
5
V. REVIEW CRITERIA FOR THIS REQUEST
Title12, Chapter 9 of the Town of Vail Municipal Code provides for the establishment of Special
Development Districts in the Town of Vail. According to Section 12-9A-1, the purpose of a Special
Development District is,
"To encourage flexibility and creativity in the development of land, in order to promote its
most appropriate use; to improve the design character and quality of the new development
within the Town; to facilitate the adequate and economical provision of streets and utilities; to
preserve the natural and scenic features of open space areas; and to further the overall goals
of the community as stated in the Vail Comprehensive Plan. An approved development ptan
for a Special Development District, in conjunction with the properties underlying zonedistrict,
shall establish the requirements for guiding development and uses of property included in the
Special Development District."
The Municipal Code provides nine design criteria, which shall be used as the principal criteria in
evaluating the merits of the proposed Special Development District. It shall be the burden of the
applicant to demonstrate that submittal material and the proposed development plan comply with
each of the following standards, or demonstrate that one or more of them is not applicable, or that a
practical solution consistent with the public interest has been achieved. This criteria is provided for
your information. Staff will fully evaluate these criteria upon final plan development.
A. Design compatibility and sensitivity to the immediate environment, neighborhood and
adjacent properties relative to architectural design, scale, bulk, building height, buffer zones,
identity, character, visual integrity and orientation.
B. Uses, activity and density which provide a compatible, efficient and workable relationship with
surrounding uses and activity.
C. Compliance with parking and loading requirements as outlined in Title 12, Chapter 10, of the
Town of Vail Municipal Code.
D. Conformity with the applicable elements of the Vail Comprehensive Plan, Town policies and
Urban Design Plan.
Vait Land Use Plan
The goals contained in the Vail Land Use Plan are to be used as the Town's policy guidelines during
the review process of establishing or amending Special Development Districts. Staff has reviewed
the Vail Land Use Plan and believes the following policies are relevant to the review of this
proposal:
1. General Growth/Development
1.1 Vail should continue to grow in a controlled environment, maintaining a balance
between residential, commercial and recreationaf uses to serve both the visitor and
the permanent resident.
6
L
1.2 The quality of the environment including air, water, and other natural resources
should be protected as the Town grows.
1.3 The quality of development should be maintained and upgrade whenever possible.
1.5 Commerciat strip development of the Valley should be avoided.
1.12 Vail should accommodate most of the additional growth in existing developed areas
(infll).
3. Commercial 3.4 Commercial growth should be concentrated in existing commercial areas to
accommodate both local and visitor needs.
4. Residential
5.3 Affordable employee housing should be made available through private efforts,
assisted by limited incentives, provided by the Town of Vail, with appropriate
restrictions.
5.4 Residential growth should keep pace with the market place demands for a full range
of housing types.
5.5 The existing employee housing base should be preserved and upgraded. Additional
' employee housing needs should be accommodated at varied sites throughout the
community.
E. identification and mitigation of natural and/or geologic hazards that affect the property on
which tMe special development district is proposed.
F. Site plan, building design and location and open space provisions designed to produce a
functional development responsive and sensitive to natural features, vegetation and overall
aesthetic quality of the community.
G. A circulation system designed for both vehicles and pedestrians addressing on and off-site
traffic circulation.
H. Functional and aesthetic landscaping and open space in order to optimize and preserve
natural features, recreation, views and functions.
1. Phasing plan or subdivision plan that will maintain a workable, functional and efficient
relationship throughout the development of the special development district.
VI. STAFF RECOMMENDATION
Since this is a worksession to discuss the proposed amendment to SDD #4, staff will not be
providing a formal staff recommendation at this time. Staff will, however, provide a staff
recommendation at the time of final PEC review.
F 1EVERYONEIPECWIEMOS\98\GL08.803
7
GLEN LYON OFFICE BUILDING
1000 South Frontage Road West
Suite 200
- Vail, Colorado 81657
970-476-6602
- July 13, 1998
Dominic Mauriello -
Town Planner
75 S. Frontage Rd. W.
Vail, Colorado 81657
Dear pominic:
For the past two years the ownership of the Glen Lyon
Office Building has been studying alternative development
scenarios for the completion of the site. We appreciate
the patience and helpfulness of the Town planning staff in
reviewing the proposed plans.
The site's development constra_ints have been unusually
difficult, caused largely by the importance of protecting
Gore Creek and by the frequently divergent objectives of
CDOT and the TOV with respect to South Frontage Road
traffic management and bike path. For these and other
reasons off site costs for the project have become very
high.
The site is presently approved for an additional
21,000 square feet of improvements. Existing approvals
permit an office/restaurant/micro brewery complex. The
proposed plan would reduce the additional improvements to
12,000 square feet (a 43% reduction). The proposed plan
provides a significantly smaller scale project and will
result in a greatly reduced level of activity on the South
Frontage Road.
The previously approved project included a requirement
for employee housing. This made sense because the project
would be generating employment. The revised plan will not
generate employment, other than for construction. The
architects have thoroughly studied whether an employee unit
could be added to either the office addition or the
condominiums. The various development constraints make an
additional unit impossible at either site. We would be
happy to provide the studies that confirm this conclusion.
Because of the significant reduction in improvements, the
constraints on including an additional unit, and the fact
that the revised proposal will not generate employees, we
request relief from the previous plan's employee housing
requirement.
-The revised proposal will provide a much smaller project and very strong architectural quality. It will
also provide a small amount of much needed office space
within Vail, which may deter certain office tenants
requiring expansion from moving down valley. Sincerely,
Glen Lyon Office Building
ac~t,•...3
By: Andrew D. Norris
General Partner
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Glen Lyon Office Development
Issues to Discuss with T.O.V.
• Bike path location along S. Frontage Rd. T.O.V. vs CDOT
• Possible relief to build on 40% slope for parking structure.
• Costs associated with under-grounding primary power.
• Relief from landscape coverage of 60%.
• Relief from on site snow storage requirement of 30%; approx. 13% available.
• Loading berth. Possibly locate within right-of-way.
• Parking structure width. Reducing width from 60 ft. to 56 ft. will ease
construction impacts, water main, 40% slope to stream, tree removal and utility
easements.
• Relief from interior parking landscaping. Bermed area at structure would
conceal most of the parking structure from South Frontage Road
Glen Lyon Office Development
Zoning Analysis
Standard Allowed bv SDD (previousiv) Oqtion A- Residental Option B- Commercial Difference
Height 51 % max. 40 feet 37'/39.4' (office building) 37' (office building) NA
49% max. 32 feet 35' (duplex) 30' (employee housing)
Setbacks Per development plan:
N: 2 ft. N: 29' (existing) N: 18'
S: 8ft. S: 14' S: 16'
E: 30 ft. E: 25' E: 30'
W: 15 ft. W: 16' W: 22'
Stream Setback 50' from centerline OK OK
Building Coverage 37°/a or 28,974 sq. ft. 15% (11,648 sq. ft.) 18% (13,880 sq. ft.) -17,326 sq. ft. (Option A)
-14,914 sq. ft. (Option B)
Landscaping 60% or 46,985 sq. ft. 59% (46,202 sq. ft.) approx. 60% (46,698 sq. ft.) -783 sq. ft. (Option A)
-0 Sq. ft. sq. ft. (Option B)
Parking Per Town of Vail regulaitons 66 req./65 provided 100 req./100 provided 1 space (Option A)
0 spaces (Option B)
Commercial Floor 32,314 sq. ft. 16,494 sq. ft. total 25,000 sq. ft. -15,820 sq ft. (Option A)
Area -(Existing) (11,094 sq. ft.) (11,094 sq. ft.) -7,314 sq. ft. (Option B)
Residental 1 free market DU allowed 2 luxury condos 1 condo
Employee Housing 2 EHU's required none on site 2 EHU's
GRFA DU - 1,630 sq. ft. DU - 7,568 sq. ft. DU - 1,700 sq. ft.
EHU's - 1,479 sq. ft. total EHU's - 0 sq. ft. 2 EHU's @ 650 sq. ft. each
Loading and 1 berth required None marked 1 off site
Defivery
Interior parking/ 10% per code 310 sq. ft. (1.6%) 0 sq. ft.
Landscaping (Parking structure)
Snow Storage Per Town of Vail req. 1,480 sq. ft. (8%) approx. 1,600 sq. ft. (13%)
30 % of paved area + export + export
t
VAIL TOWN COUNCIL - MINUTES
TUESDAY, AUGUST 4, 1998
7:00 P.M.
The regular meeting of the Vail Town Council was held in the Town Council Chambers on
Tuesday, August 4, 1998. The meeting was called to order at approximately 7:00 P.M.
COUNCIL MEMBERS PRESENT: Ludwig Kurz, Mayor Pro-Tem
Bob Armour Michael Jewett
Sybill Navas
ABSENT: Rob Ford, Mayor
Michael Arnett
Kevin Foley
STAFF MEMBERS PRESENT: Bob McLaurin, Town Manager
Tom Moorhead, Town Attorney
STAFF MEMBERS ABSENT: Pam Brandmeyer
The first item on the agenda was Citizen Participation.
Jerry Sibley, Vice President of the Donovan Park Neighborhood Association, read a news letter
from the group to the Town Council outlining the concerns the association has regarding the
Common Ground plan. He specified the association was in opposition of using land originally
purchased with Real Estate Transfer Tax (RETT) funds for housing at Donovan Park and
suggested the Town provide the area with a quality park and open space.
Howard Stone, Executive Director of the Vail Jazz Foundation, updated the Council on the
upcoming Jazz Festival series in the Valley. The jazz festival, now in its 4th year, will showcase
. perFormances by 50 performers over the Labor Day weekend. More than six hours of music will
be provided at minimal cost. In addition, high school jazz musicians have been invited to Vail to practice and perform. He also said the Vail Jazz Foundation is funding a program in which
every 4th and 5th grade student in Eagle County will receive jau instruction this school year to
introduce them to jazz and encourage them to participate in music programs in the future.
Guy Ayrault, an Intermountain resident and also representing the Donovan Park Neighborhood
Association, explained that he and Sally Jackle wrote a letter to the Council explaining their
objections to the Common Ground plan and process. He stated he has taken legal action
against the Town. He wants the Council to reconsider the consequences of Resolution No. 9
and how it will affect the neighborhood and character of the town.
Ronald Jones, a West Vail resident, stated he had nine points of concern about the June 30
meeting when Resolution No. 9 was passed. He listed these points in a letter he gave to
Council which included concerns the Council ignored the concerns of the majority of the people
who have spoken against the Common Ground Plan, the amount of time allowed for
1 Vail Town Council Minutes August 4, 1998
S
consideration of the Resofution was too short, and concerns regarding density and growth. He
wants the Town Council to reconsider their decision and any future decisions regarding the use
of open space for housing.
Diana Donovan, a Vail resident, said she wanted the Council to stop using the Common
Ground process to validate a predetermined decision. She stated the process had not been
fair, honest or open because the Council identified specific housing sites. She encouraged the Council to focus attention on Timber Ridge for housing. She expressed distress that housing
issues were not added to the Council agendas as a separate item and the community was not
informed that housing issues would be discussed at the Council worksession under the "Other"
category. She asked that any future discussions on housing or Common Ground be listed as a.
separate agenda item so the community can be informed of when these items would be
discussed.
Suzanne Mueller, a Matterhorn resident, asked Council not to building housing on Donovan
Park.
Council member Mike Jewett stated he had been approached by Suzanne Sibley saying she
could not get a copy of the Council agenda faxed to her. He also said Suzanne had been told
she could not be placed on a list to receive Council agendas in the future.
Bob McLaurin, Town Manager, said he had not heard that she could not be placed on a fax list
to receive a Council agenda in the future. He said Mrs. Sibley or anyone else that want an
agenda should call him at work or at home and he would take care of it. He also expressed that
he didn't think it should take Council action for someone to get an agenda, all they need to do is
call him.
Council member Mike Jewett also stated he wanted the public to be able to have access to the
Vail Town Charter for free and that it needs to be available on the Internet.
Lorelei Donaldson, Town Clerk, stated she had been sending out the Vail Charter for free to
anyone requesting it.
Council member Mike Jewett also suggested a need to consider a formal registry of
neighborhood groups who wanted access to the Council agendas and issues before the Council
such as Common Ground.
The second item on the agenda was the Consent Agenda to approve the minutes from the
meetings of June 30, July 7th and 21st, 1998.
Council member Sybill Navas made a motion to approve the minutes of June 30, July 7 and
July 21. She commented the June 30 minutes reflected almost equal participation for and
against the resolution.
Several members of the audience disagreed and further discussion ensued.
2 Vail Town Council Minutes August 4, 1998
•
t
Council member Bob Armour seconded the motion.
Council member Mike Jewett wanted to bring to the attention of the public that in the June 30
minutes that severai individuals that spoke represented groups. He also said that one-half to
three-fourths of the people in favor of the plan received funding or other approvals from the
Town in some capacity.
A vote was taken and the motion passed, 4-0.
• The third item on the agenda was second reading of Ordinance No. 11, Series of 1998, an
ordinance amending the Official Zoning Map for the Town of Vatl in Accordance with Title 12, Zoning Regulations, Chapter 5, Zoning Map; Applying Zone District Designation to a Portion of
Unzoned Property Previously Owned by the United States Forest Service and Transferred to the
Town of Vail Pursuant to the Land Ownership Adjustment Agreement to Primary/ secondary
Residential District for Property Located at Rockledge Road/portions of United States Forest
Service Lot 3, Based upon the Proposed Final Plat (Not Yet Recorded) of Rockiedge Forest
Subdivision Prepared by Dennis Shelhorn as Job No. 0332-002 Dated February 25, 1998.
Tom Moorhead, Town Attorney, stated this property is in the Rockledge Road area, and the
only change to the ordinance was the addition of Exhibit A, which is a metes and bounds
property description. This property was acquired by the town as part of the Land Ownership
Adjustment Agreement with the U.S. Forest Service. The property will eventually be sold to
adjacent property owners to resolve encroachment issues. This issue will be brought before
the Council for approval of the sale at a later date.
Council member Bob Armour made a motion to approve on second reading, Ordinance No. 11,
Series of 1998, and the motion was seconded by Council member Sybill Navas. A vote was
taken and the motion passed, 4-0.
The fourth item on the agenda was a Report on Common Ground Litigation.
Tom Moorhead, Town Attorney, stated this matter is appropriate for executive session
. discussion if the Council so desired and would require a vote of the Council to go into an executive session.
-Council member Bob Armour stated this item did not need to go to a Council executive session
at this time.
Tom Moorhead explained the Town of Vail has received two complaints to date challenging the
Council's June 30 adoption of Resoiution No. 9. The one lawsuit is from the Donovan Park
Neighborhood Association (representing 23 property owners) and the other is from eleven
property owners from the Greenhill Court area. He explained the complaints are similar to each
other and are alleging the resolution improperly violated the Comprehensive Open Lands Plan
and the Donovan Park Master Plan; violates the use of lands purchased with RETT funds;
improperly authorized conditional use and rezoning actions, improperly allocated funds for
budget purposes and exceeds Council's authority. He aiso said the two lawsuits ask for an
injunction to stop implementation of the plan. However, at this time, no motion has been filed
3 Vail Town Council Minutes August 4, 1998
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w
asking the court to consider an injunction at this time. Tom also stated a third complaint has
been filed in district court but the town has not yet been served. He said the Town will respond
to all the complaints in a timely manner and proceed through Eagle County District Caurt.
Counci) member Mike Jewett asked Tom to respond to an inquiry about allegations of improper
use of lands purchased with RETT funds.
Tom said the argument was not a legally supported position.
Council member Mike Jewett then asked how protected from legal action Realtors in town are if
they represent certain property as open space. .
Tom said if they represented it as legally restricted property they may have liability.
Council member Mike Jewett said he felt that morally, the Council has an obligation to the
community to uphold previous Council's actions and promises. He asked fellow council
members to reconsider current actions.
As there was no further business, a motion was made by Council member Bob Armour to
adjourn the meeting and was seconded by Council member Sybill Navas. A vote was taken
and the motion passed unanimously, 4-0.
The meeting was adjourned at 7:45 P.M.
Respectfully submitted,
Ludwig Kurz
Mayor Pro-Tem
ATTEST:
Lorelei Donaldson
Town Clerk
4 Vail Town Council Minutes August 4, 1998
VAIL TOWN COUNCIL - MINUTES
TUESDAY, AUGUST 18, 1998
7:00 P.M.
The regular meeting of the Vail Town Council was held in the Town Council Chambers on
Tuesday, August 18, 1998. The meeting was called to order at approximately 7:00 P.M.
COUNCIL MEMBERS PRESENT: Rob Ford, Mayor
Ludwig Kurz, Mayor Pro-Tem
Michael Arnett
Kevin Foley :
Michael Jewett
ABSENT: Sybill Navas
Bpb Armour
STAFF MEMBERS PRESENT: Bob McLaurin, Town Manager
Tom Moorhead, Town Attorney
Pam Brandmeyer, Assistant Town Manager
The first item on the agenda was Citizen Participation. Marvin Langer appeared before the
Council and expressed his concerns about the Common Ground decision. He said because Vail
Resorts stands to benefit most from the plan, it was not a practical solution. Joe Staufer shared
a newspaper article about employee housing in Breckenridge. Staufer said Breckenridge
appears to have embraced the concept more positively than Vail. Karl Fauland also addressed
the Council, stating he objected to the Common Ground decision because it did not reflect
majority support. He felt his neighborhood was already saturated with traffic, parking and animal
control programs with the current residents.
The second item on the agenda was first reading of Ordinance No. 12, Series of 1998, an
Ordinance Authorizing the Issuance of Town of Vail, Golorado Sales Tax Revenue Refunding
Bonds, Series 1998A and Taxable Sales Tax Revenue Refunding Bonds, Series 199813;
Providing the Form, Terms and Conditions of the 1998 Bonds, the Manner and Terms of
. Issuance, the Manner of Execution, the Method of Payment and the Security Therefor; Pledging
Sales Tax Revenues of the Town for the Payment of the 1998 Bonds; Providing Certain
Covenants and Other Details and Making Other Provisions Concerning the 1998 Bonds and the
-Sales Tax Revenues; Ratifying Action Previously Taken and Appertaining Thereto; Repealing all
Ordinances in Conflict Herewith. Steve Thompson, Finance Director, stated the proposed
refinancing of a portion of the Town's debt would provide level debt service payments from 1999
until the year 2012. This refinancing would free up additional funds and enable the Town to fund
additional capital projects. The interest rate for this transaction will be lower than the current
debt service. Thompson stated the new debt principal and interest would extend debf to 2012.
He stated refinancing would be at a Iower interest rate and fully complies with theTabor
Amendment. Councilmember Jewett expressed his ordinance concerns, stating he had
reviewed the bonds and was concerned about payback. Jewitt stated the Town needed to
address the process for competitive bids, as a great deal of money was at stake. Jewitt felt no
alternative bids were given to Council. After some discussion, Councilmember Ludwig Kurz
made a motion to approve Ordinance No. 12, Series of 1998, on first reading. Councilmember
Michael Arnett seconded the motion. Councilmember Kevin Foley stated he would like to stick
1
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to the original schedule and have the debt paid off by 2006. a vote was taken and the motion
passed 4 to 1, Councilman Foley opposing. The second reading of the ordinance will be read at
the September 1st council meeting.
The third item on the agenda was a discussion of the Business License Fee by Vail First Group.
Joe Staufer, long time local and business owner, spoke to the Council, stating that he was a
charter member of Vail Resort Association. He stated that Vail was then a small community that
had 90% membership from the Vail business owners. As Vail grew, the business license fee
was enacted in the mid-80's as permanent funding for VRA's efforts . VRA had been successful
at what was done and was good for Vail. Staufer disagreed with the change from Vail Resort. Association to Vail Valley Tourism and Convention Bureau. He felt the VVTCB couldn't service
- everyone.. He stated Vail was the first skier resort that had a central reservation system: As aresult, the license fee was taken away from the local community to benefit the Town's
competition. He stated Vail was the only town required to pay a business license fee. He stated
it was time to address what our needs are and get the funds back into Vail. Staufer stated it was
time to realize that every business in this town has two or three competitors down valley and,
although Vail contributes $700,000 on a$900,000 budget, Vail gets exactly the same benefits.
He stated it was shocking how much business was being booked out of Vail. Jim Slevin, also a
long time local and former business owner, addressed the Council . He stated that in the early
days, locals helped each other. He had served on several different boards and felt that 30
years later things had definitely changed. He stated it was difficult for Vail to compete with the
Vilar Center, golf courses, Beaver Creek ice arena, etc. Slevin suggested the Council walk
around one more time this summer look at the condition of the Village. He suggested several
improvements were needed, including heated pavements, additional lighting, and general
updating. Lionshead business owner and former Councilmember Rob Levine handed out a chart
outlining the Antlers business since 1984. He stated his business was up significantly and was
largely as a result of the marketing of the VVTCB. He asked the Council to not make any
changes. Dick Elias, long time local and former business manager, stated he was not here to
get involved, but to give a little history - he stated he had a vested interest because of his
daughter's business. He stated Colorado was #1 in tourism inquiries - never ranked #1 in
bookings. He said sales tax returns are miserable this summer. He stated Vail needs to
promote Vail and that businesses need to take control and that tax should be used to promote
businesses in Vail. Jim Slevin addressed the Council again, wanting to clarify that he had no
vested interest and was not a part of Vail First. Jack Curtin, part owner of Curtin-Hill Sports,
stated that he felt Vail lost its identity by becoming involved with the Vail Valley Marketing Board.
He felt the marketing should be done in Vail only. He stated that everything that was requested
of the businesses had been accomplished and now that it's budget time, it was time for the
Council to commit to what they said they would do. Frank Johnson, VVTCB Director, thanked
Councif for having faith over the fast 10 years, raising $300,000 for the marketing board. He
stated that 60% who come to this area stay in Vail. He felt Vail needed its own program, but
didn't feel we should get rid of a program that works. He stated there was nothing anyone could
do about the building down valley and that Vail is built out. He stated that Vail was 90%
dependent on tourism. Steve Rosenthal addressed the Council. He said he had bought a
business in Vail and was concerned how marketing dollars were being spent. Kaye Ferry, Vail
First, stated the reason for their organization was to get the license fee dollars returned to Vail.
She admitted it was not a perfect solution and the group was open to any suggestions or ideas.
No decisions were made by Council at the conclusion of the presentation and this will be
considered in the larger context of the 1999-2000 budget approval process.
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The fourth item on the agenda was a discussion on Common Ground, the next steps.
Mayor Rob Ford stated comments were welcome, but should be limited to the items listed on the
agenda. Andy Knudtsen attempted to go through the schedule. He stated that comments from
the community were welcomed and the staff would continue to work with the community and the
council and would be following up with comments. He also stated that anyone that was not on
the common ground mailing list and would like to be added should see Pam Brandmeyer or Mary
Caster to be added to the list.
Jerry Sibley, Matterhorn resident, addressed the Council, stating his frustration regarding the
procedure to make comments regarding the process of Common Ground and asked the Council , -
how opinions could be voiced. Sibley that meetings have been contro!!ed and it was hard to know when input was welcome. Sibley stated he felt the Town had done a good job in providing
its own employee housing and felt the Town was a good model for the business community. He
felt the procedure was "set in stone", contrary to what Andy Knudtsen. Senior Housing Planner,
said, and it was difficult for neighborhoods to have an input. Sibley stated he felt it was a
mistake to use open space purchased with rett funds that were promised to be open space.
He stated there were places the Town could create, such as Cascade Village " the ruins," the Old
Town Shops, Berry Creek, unpurchased lands, and Timber Ridge. He felt the Town Council
could change at will without the neighborhood having a voice. He asked the Council to
reconsider. Mayor Ford stated he knew what Sibley was feeling and was willing to set a time for
another open house to discuss only open space and Common Ground. The public in the
audience strongly disagreed with Mayor Ford's comments and feit it would be pigeon-holed to
another meeting and was doing a great disservice to the Iocal community. Judy Sibley,
Matterhorn residence, spoke regarding Donovan Park. She stated she was opposed to using
the property for housing. Diana Donovan stated she felt there should be zero density on land
zoned as open space. She stated she and her committee had presented the Mayor with a list of
many options before using open space, but felt that neither the Mayor nor the Council had read
them. Guy Ayrault stated he had attended the open house and was unsuccessful in trying to
express his feelings. He felt the June 30th resolution was in violation of public trust. He felt that
after the sessions were over, the Council .was able to proceed as they wished. He appealed to
the Council to leave open space alone. Carol Hymers, Glen Lyon resident, stated she supported
affordable housing, and also expressed her wish to have the Council take another Iook at viable
options available as.preyiously mentioned. She also stated she did not support Resolution No. 9,
as written. She asked council and staff to summit information to homeowners timelyso they can
to participate. Paul Hymers, res'ident of Glen Lyon subdivision - stated he was one of the
participants suing the town to rescind Resolution No. 9. He questioned why the Council was not
interested in the preservation of open space and why the RETT tax was enacted and then tried
to be used to purchase employee housing. He also questioned why the town maserplan being
was being disregarded, why the Donovan park master plan was being ignored and why other
parcels had not been pursued. He suggested incentives be given to homeowners to rent space.
He wanted to know why the Town had chosen to build seasonal housing with 4 and 5 bedrooms.
He reminded the Council how much trouble they had selling Vail Commons. He asked the
Council who was driving this effort, who would be able to purchase these units and why the town
was entering into the development business. Hymers questioned if there was in fact a housing
crisis. He felted so many town residents felt legal action was the only recourse and the Vail
Town Council had been very unresponsive to citizens and was not representing their
constituency and had no regard for the opinions of others. Ron Jones, Garmisch area resident,
addressed the Council stating he opposed the steps taken in common ground. He stated the
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?Arosa/Garmisch area did not have a designated park area. He stated the use of RETT tax
revenues as a major funding source for affordable housing was a gross misuse of this fund. He
questioned how it could be used for public housing. Jones stated Vail was #2 in ski magazines
because of overcrowding. He addressed the huge density planned for Lionshead and the
change of zoning laws. He wanted to know why Vail Resorts was not participating more in the
affordable housing plan, especially when they just purchased a 30 million dollar hotel in
Breckenridge. He stated Vail Resorts should be expected to pay for their own housing and it was
time for them to lead the way. Jones requested the Council to reconsider Resolution #9 and its effects on the entire community, such as, cars, pollution, and traffic. He requested the Council to
reconsider their decision and come up with a plan that would work for everyone. T.J. Connors,a
5 year resident, and a plaintiff in one of the lawsuits, stated he did not agree with where and how ,
the affordable housing that was being planned was to be located and paid for and felt he was .
backed into a corner to file the suit. He felt strongly that employee housing should be divided into
four parts - business owners, property owners, town government, and employees. There was
strong consensus from the audience that a more equitable way of providing housing would be
contributions from employees, Town of Vail, business owners and property owners. Attorney
Sally Jackle requested the Council to stop the process now and not to try to solve the problem by
taking away open space when there were many other viable options. Jackle stated she too was
frustrated by not being allowed to discuss these concerns in the common ground process. She
felt the Town should build on properry owned by the Town, not on public land and open space.
She stated she was told by Community Development that she could not add additional
development to her residence because it would add too much density. She suggested requiring
a development or redevelopment to add employee housing. She reminded the Council it was not
too late to admit this was wrong and to start down another path. Wolf Mueller, Matterhorn
resident, spoke in defense of Donovan Park. He felt that other town-owned properties should
be used for affordable housing before any open space was looked at and he was also opposed
to using RETT funds for affordable housing. Mueller read a prepared statement that he was not
allowed to read at the June 30th meeting. He felt the Town should do away with the RETT tax if
it was not being used for open space. Flo Habenicht, a Matterhorn resident, spoke regarding
employee generation - give part of housing to businesses. She quoted Andy Knudtsen in a
newspaper article after a Glenwood Springs meeting saying the Town had reached a crisis point
and the burden should not be put on the government . She stated that in regards Common
Ground - Donovan Park was "uncommon ground." She stated that once this properry was built
on, the Town would never get it back. Valerie Fowler, who lives in Matterhorn, asked the Council
to consider other sites available without using open space. (Timber Ridge, the "ruins" at
Cascade, ma bell). Nevin Nelson, West Vail resident, asked the Council to respond as to why
they are so interat on building on open space and why this is not considered as a last resort.
Mayor Ford stated he had repeatedly made an offer to do this at a meeting open to the public;
however, the purpose of the meeting tonight was to set up the schedule of Common Ground
process. Nelson stated the letter she had received said the meeting here tonight was to answer
questions and she would like an answer to this question tonight. Mayor Ford spoke to the
audience stating that the town looked at the map of available space and estimated that 30% of
available building ground was open space. Because of the lack of available ground, the
Common Ground concept was launched. Mayor Pro-tem Kurz , stated that what Mayor Ford
said was correct. Kurz stated the Council had received a high level of consensus that there was
an employee housing problem in the town. He acknowledged that the Town had slipped in
some areas of services provided, and with staff help, had looked at all the alternatives. Kurz
stated that ihe Council has talked about different areas, including the ruins, ma bell, and Timber
Ridge, and had come up with an equitable plan. He stated the plan might be less equitable in
some areas than other. He stated most of the speakers were West Vail residents, one or two
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were not West Vail residents. Neighborhood impacts. He stated he was hearing "yes" there is a
probfem. But let's resoive it somewhere eise. He stated Berry Creek could be developed, but do
not build in the community.
Councilmember Mike Arnett stated he was as pro open space as anyone in this room. He
stated this was not an easy decision and the Council was using forward thinking in that within 10
years, the Vail population will double and the reason for affordable housing was to house our
own, and there would be no need for people to drive past Dowd Junction. Councilmember Foley
stated the night of June 30th, at 4 hour meeting he spoke of supporting employee housing. He
stated he supported the resolution to work toward getting the job done. If the Town doesn't ,
support affordable housing, people will go elsewhere. Foley stated the Town needed to look at
plan as a whole, that more time was needed to talk and move forward. Councilmember Mike
Jewett stated he was the only dissenting vote against the process. Jewett suggested a change
in the Town Charter was in order and felt this decision should be taken to a vote of the Vail
residents, as opposed to the passage of Resolution No. 9. Jewett made a prediction that if the
Councii continued on the same course, it will divide the Town and the citizens . He stated he
was very concerned that Council was not listening to the people. Jewett stated he was the
biggest pusher of employee housing and needed to reflect on where we were going. He stated
he would like to see the Council reflect on removing Resolution # 9 and work with neighborhoods
to address specific parcels of land. Jewett stated he refused to go into executive session to be
verbally abused. He stated that the public needed to understand that things happen behind
closed doors. Diana Donovan stated that the park is an important part of the community and
there are other alternatives to the housing problem. She stated that the Town was selling a
piece of property to second home owners rather than using it for affordable housing and there
were a lot of other opportunities other than open space. Farrow Hitt, a Matterhorn area resident,
suggested the Town re-read the definition of RETT funds He felt the Council was ignoring the
purpose of the ordinance. He recommended the Councilre-think what they're trying to do. He
suggested the Council let the public know why they don't want to build on alternative sites. He
felt lots of good alternatives have been brought up. He stated Donovan Park was designated
open space for parks and recreation and wondered when and how it got changed to public use
and who did it. He stated he did not want to offend the second home owner, but felt that
affordable housing was only going to be built where there was already employee housing. He
stated the public trusted the Donovan Park master plan and the community would be in
attendance from here on to make sure it remained a public park.. Hitt stated he did not like being
a part of the law suit, but felt he was never allowed to talk about it. He questioned the Council
about town park lands being used and why it was not open for discussion. He was also
concerned about there actually being an aftordable housing crisis. He stated Vai! Associates
laid off 300 employees last season. Hitt stated Councilmember Navas had recommended
immediate acquisition of Timber Ridge and he wanted to know what had been done about that.
Town Manager McLaurin replied that nothing had been done at this time. Council and staff
agreed that the Town needed to move quickly on this matter.
Maryanne Molloy, a second home owner in Vail, stated she had toured affordable housing in
Boulder and invited the Council and staff to a tour there on Thursday. Councilmember Arnett
requested he be given literature. Sheila Sullivan, a West Vail resident, stated that Stephens
Park was her concern. She stated she attended Common Ground and tried to be heard, but
because of the format of the meeting was unable to do so. She asked the Council to please not
use open space for housing, but to redirect and reconsider their decision. Paula Fitzgerald, West
Vail resident, stated she was not opposed to development and the idea of increasing density by
adding bedrooms or lockoffs to existing buildings. Melvin Vaughn stated he had purchased
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property in 1966 and was not a full time resident . He stated he had watched the houses move
down to the Matterhorn and Donovan Park area. He stated if vacant lands were developed by
RETT money, it would change the area and who would stop the repurchase of lands from Vail to
be torn down and highrise concrete buildings built in their place. He advised the Council not to
" lose the public trust by using these lands for public projects. Chas Bernhardt, home owner in
Intermountain, felt the densities were too high and needed to be changed. He stated he had sent
several letters - costs don't decrease by increasing density. He does want to discuss Common
Grounds. He had called, written several letters, and stated Councilmember Jewett had
answered his letters. He had also talked with Councilmember Arnett, who gave a good
explanation and to why the Council was moving in the direction they were, and Mayor Ford called .
him from his vacation. Mayor Ford addressed the audience again, stating he and staff would be
happy to discuss Lionshead regarding employee housing. Jerry Sibley addressed the Council .
again regarding process . He stated he would be interested in having a representative from the
neighborhoods be a part of the employee generation task force. Rob Levine, manager of the
Antlers Lodge in Lionshead, stated he has some employee housing and that he advertised for
employees for 2 months - and received 2 applicants. Service levels have gone down. Lionshead
master plan has employee units. Rob was trying to figure out how to do more. Viable
alternatives have not turned out to be viable. It would be wrong to take 50% of open space for
employee housing. It would be appropriate to take less than 2% to solve this problem He stated
he admired Council for taking on this process. In regard to densities, Rob stated Council should
concentrate the most density to the core of the town. Sue Dugan applauded Rob Levine for his
views. She stated the Common Ground meetings were a good process - moderators were
professionals to get the group to consensus.. She also felt a decision had been made before the
meetings were held Ms. Dugan reminded Council that they had questioned the legality of her
, unit. Primary residents will leave. Ron Mitchell rented in Vail for 15 years. He stated there was
no housing crises. Loss of open space was a definite crisis. The price would be expensive and
this should not to be confused with triple over-building of Vail as it is occurring now. He felt a
closer look needed to be taken at areas already mentioned and at employee incentive programs.
Council should explore more options for first home buyers. He felt Resolution# 9 should be
abolished and RETT funds should not be used. He stated citizens needed to have a voice and
that opportunity had not been given to them. In a local paper, the listing of housing wanted was
3 ads. Joann Glenn, a West Vail property owner, questioned the issue of what the next phase
should be. Mayor Ford quoted Vail development going on for decades, but each step had the
same naysayers. The minority continues to embrace confrontation. Locals are talking to you.
Vail Tomorrow is a screening process. What happened within Common Grounds. Ford hasn't
seen any viable alterriatives to the Vail Commons plan. Need some common sense in Common
Ground. Hearing what locals feel is common sense. This situation was created by the fact that
GRFA has always been an issue. When those people approach the town for addition GRFA,it
was a struggle. If we could make our properties more affordable to us, we would not be
interested in using RETT funds . It should not be funded by our government. Next phase for you
is to repeal Resolution 9 and listen to the majority of their constituency. Karin Scheidegger, West
Vail full time resident, stated she attended the Common Ground meetings. She stated she did
not have a choice then and was not having a choice now. She reminded the Council she had
collected over 100 signatures objecting to building next to town manger's house. She stated
that lots of lights were on in her neighborhood and many alternatives have been given and to
please consider those. Consider an exemption to people who live here full time such as Avon's.
It was stated that Vail Commons owners were exempt from RETT fees and that could be a
consideration given to other local full time buyers. Jeb Jennings, a Vail Valley resident for 20
years, recently moved back to the area. He stated the comments made tonight were important .
He felt the intentions of the Council were good but were a violation of public trust. He felt the
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issue should be taken to a public vote and that Vail Resorts should get more involved. He
stated that taxpayers were being asked to furnish housing for VA employees. Suzanne Mueller,
Matt erhorn resident, stated that she would like to participate. She stated she did not feel
welcome at the beginning of Vail Commons and to please consider what the Council would be
doing with Donovan Park. She also stated she would be willing to help with the process.
Mayor Ford stated that he looked at adoption of Resolution # 9 as a starting point. From that
point, the Council could move forward with the neighborhoods to discuss the density in their particular neighborhood. Ford stated he was disappointed that this did not happen. He again
, expressed his and the Council's willingness to sit down in a nonheated environment to discuss
the issues. Ford stated he ran for Town Council to help the community solve some of its _
problems. He agreed the open house on the June 30th was a little charged and realized that not
since the open house has there been an opportunity to sit down and discuss the alternatives with
the public. Ginny Culp addressed the Council stating they (the Council) was seeing evidence
that the process did not meet the needs of the community. She felt the Council was on a
predetermined course to build affordable housing on the public's open space with the public's
money. She stated the Council's reference to open space as "designated" land was in fact open
space bought by RETT and should not be used for affordable housing. She questioned how the
Council would prevent affordable housing residents from working and commuting down valley.
Mr. Arnett was concerned about down valley, build housing here, given the town's enforcement
of housing here. Councilmember Arnett stated there would be deed restrictions of Red
Sandstone employee housing and master leases would be signed by properties sold to local
business owners. Jerry Sibley spoke in reference to Habitat for Humanities, noting that he had
worked on a home in Gypsum. He stated the Town is not open to Habitat For Humanities. Sally
Jackle stated that Habitat for Humanities had backed out of pursuing building in Vail because
they felt they were not compatible with the neighborhood. Gena Whitten addressed the Council,
agreeing with the neighborhoods in West Vail and stating that the citizens needed to be heard.
She stated the Council and staff need to go back to ground zero. She felt there was not a
consensus with regard to Resolution # 9. Many other issues were discussed in Vail Tomorrow.
Whitten stated she was a former Planning Commission member. She recalled that any time
open space and RETT came up for discussion, it was stated that it could not be used. She
stated the Board of Realtors defended RETT and felt RETT should be abolished if no open
space was left to be purchased. She stated the Council was missing the point and did not have
the right to change the purpose. She stated the people were not behind this. She suggested
. the East Vail Racquet Club was for sale and the Council should take a look at that for .
consideration of affordable housing. She also supported the idea of a one time exemption to
RETT to anyone who was a full time resident. Kaye Ferry, local business owner, defended the
-Council's actions, stating they were performing in the best interest of the community. She stated
Common Ground came out of the Vail Tomorrow process and needed to be addressed.. Flo
Habenicht addressed the Council stating that there was a lot at stake here and the public was
trying to save open space and the Council was giving them a schedule. She felt the decision
should be delayed until a plan that most everyone agreed on could be reached. She suggested
discussing this at the next work session. Councilmember Jewett stated stated the issue must
be voted on by the people. People are speaking. He stated the only way this issue could be
resolved would be to reverse Resolution # 9. Jewett felt the Council had alienated the people
interested in affordable housing and felt nothing was going to happen. Councilmember Jewett
then made a motion to withdraw Resolution #9. Mayor Ford questioned Councilmember Jewett,
asking him if he thought it was fair to vote on a matter that was voted on by Councilmembers that
were not in attendance at this meeting. Councilmember Foley suggested the Council look at the
calendar and set a date for further discussion.
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As there was no second to the motion, the motion died. Mayor Ford stated this discussion would
continue at the Sept. 15th evening meeting. Councilmember Foley proposed to modify
Resolution 9 after input from the community. Mayor Ford stated it was important to answer some
of the questions . He stated the Council would discuss it at the next work session. Ford stated
that Resolution #9 was not to build anything, it just gives a direction in which to proceed with the
process. He stated the Council was not going to leave the public out of the loop in determining
the density and sites for affordable housing. Jerry Sibley stated that eliminating the sentence
about specific sites may make the resolution more appealing to the public.
Councilmember Ludi Kurz addressed issues that he felt might have been misunderstood. He
addressed the loss of the Sunbird Lodge in Lionshead. He stated redevelopment in Lionshead
- would not result in any net loss. He stated it was a a process the Council was going through. He stated the Council was being accused of not listening to what the public was saying. He
stated he knew of no one who was behind this or driving this issue. He stated that many
discussions with the community have been held over the past several years. He suggested
everyone should stay away from snide and sarcastic remarks which are non-productive and are a
poor way of communicating. Kurz recommended setting a public hearing on the agenda for
worksession on the September 25th to discuss building on open spaces as opposed to
alternative spaces. He stated that all the alternatives addressed tonight would be open for
discussion at that time.
The fifth item on the agenda was the Town Manager's Report. Town Manager McLaurin stated
he had nothing to add to the report.
As there was no further business, a motion was made by Council member Kurz to adjourn the
meeting and was seconded by Council member Foley. a vote was taken and the motion passed
unanimously, 5-0.
The meeting was adjourned at 11:15 P.M.
Respectfully submitted,
Rob Ford
Mayor ATTEST:
Lorelei Donaldson
Town Clerk
(Minutes taken by Mary Caster)
8 Vail Town Council Minutes August 18, 1998
I
ORDINANCE NO. 13
Series of 1998
AN EMERGENCY ORDINANCE REQUIRING THE USE OF HELMETS
AT THE LIONSHEAD SKATEBOARD PARK AND PROHIBITING THE USE OF
SKATEBOARDS, ROLLER SKATES, BLADES AND BICYCLES WITHIN THE VAIL
TRANSPORTATION CENTER AND LIONSHEAD PARKING STRUCTURE AND DECLARING
AN EMERGENCY.
WHEREAS, the Town of Vail, and the Vail Recreation District, in conjunction with private participation in the community, have established a skateboard park on the top level of the
Lionshead Parking Structure; and .
WHEREAS, it has been agreed that the use of protective helmets is an appropriate
safety requirement within the skateboard park to avoid serious injury; and
WHEREAS, voluntary compliance by the users of the park has proved to be
unsuccessful; and
WHEREAS, there has been an increase in conflicts between automobiles and
skateboards within the parking structure; and
WHEREAS, both parking structures have been posted regulating the use of skateboards,
blades and bicycles.
NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF
VAIL, COLORADO, that:
1. Protective helmets are required to be used in the skateboard park located at the
Lionshead Parking Structure.
2. Skateboarding, roller skating, rollerblading, and bicycling are prohibited in the Vail
Transportation Center and in the Lionshead Parking Structure except regular patrol and official
duties of the Vail Police Department.
3. Penalties for violations shall be pursuant to Title 1, Chapter 4, General Penaltv of the
Town of Vail Town Code.
4. The Town Council hereby finds, determines and declares that this ordinance is
necessary and proper for the health, safety and welfare of the Town of Vail and the inhabitants
thereof.
5. The Town Council further finds that because of the immediate hazard which is being
experienced in the skateboard park and within.the parking structures, this ordinance is hereby
declared to be an emergency ordinance necessary for the preservation of public property,
health, welfare, peace and safety.
6. If any part, section, subsection, sentence, clause or phrase of this ordinance is for any
reason held to be invalid, such decision shall not affect the validity of the remaining portions of
1
this ordinance; and the Town Council hereby declares it would have passed this ordinance, and
each part, section, subsection, sentence, clause or phrase thereof, regardless of the fact that
any one or more parts, sections, subsections, sentences, clauses or phrases be declared
invalid.
7. The amendment of any provision of the Vail Municipal Code as provided in this
ordinance shall not affect any right which has accrued, any duty imposed, any violation that
occurred prior to the effective date hereof, any prosecution commenced, nor any other action or
proceeding as commenced under or by virtue of the provision amended. The amendment of any
provision hereby shall not revive any provision or any ordinance previously repealed or
superseded unless expressly stated herein.
8. All bylaws, orders, resolutions and ordinances, or parts thereof, inconsistent herewith are
repealed to the extent only of such inconsistency. This repealer shalf not be construed to revise
any bylaw, order, resolution or ordinance, or part thereof, theretofore repealed.
INTRODUCED, READ, AND APPROVED AS AN EMERGENCY OFtDINANCE this day of
September 1, 1998, in the Council Chambers of the Vail Municipal Building, Vail, Colorado, and
this ordinance shall take effect immediately.
ORDERED PUBLISFiED IN FULL this 1st day of September, 1998.
Robert E. Ford, Mayor
ATTEST:
Lorelei Donaldson, Town Clerk
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ORDINANCE NO. 12
SERIES OF 1998
AN ORDINANCE AUTHORIZING THE ISSUANCE OF TOWN
OF VAIL, COLOR.ADO SALES TAX REVENUE REFUNDING
BONDS, SERIES 1998A AND TAXABLE SALES TAX REVENUE
REFLJNDING BONDS, SERIES 199813; PROVIDING THE FORM,
TERMS AND CONDITIONS OF THE 1998 BONDS, THE
MANNER AND TERMS OF ISSUANCE, THE MANNER OF EXECUTION, THE METHOD OF PAYMENT AND THE
SECURITY THEREFOR; PLEDGING SALES TAX REVENUES
OF THE TOWN FOR THE PAYMENT OF THE 1998 BONDS;
PROVIDING CERTAIN COVENANTS AND OTHER DETAILS
AND MAKING OTI-IER PROVISIONS CONCERNING THE 1998
BONDS AND THE SALES TAX REVENUES; RATIFYING
ACTION PREVIOUSLY TAKEN AND APPERTAINING
THERETO; REPEALING ALL ORDINANCES iN CONFLICT
HEREWITH.
NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE
TOWN OF VAIL, COLORADO:
Section 1. Definitions. Terms used in this Ordinance shall have the meanings
specified in this Section for all purposes of this Ordinance and of any ordinance amendatory hereof,
supplemental hereto or relating hereto, and of any instrument or document appertaining hereto,
except where the context by clear implication otherwise requires. All definitions include the singular
and plural and include all genders. Certain terms are parenthetically defined elsewhere herein.
Additional Bonds: the one or more series of bonds or other securities or obligations
authorized to be issued by the Town pursuant to Section 18 hereof and having a lien on the Pledged
Revenues on a parity with the lien of the 1998 Bonds.
Bond Fund: the fund by that name created by the 1989 Ordinance and eontinued in
this Ordinance.
Bond Insurer: MBIA Insurance Corporation or its successors.
Bond Insurance Policv: the financial guaranty insurance policy issued by the Bond
Insurer guaranteeing the payment of principal of and interest on the 1998 Bonds.
Bond Reserve Insurance Policv: any insurance policy, surety bond, irrevocable letter
of credit or similar instrument deposited in or credited to the Reserve Fund in lieu of or in partial
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substitution for moneys on deposit therein. The issuer providing any such Bond Reserve Insurance
Policy shall be an issuer which then is rated in the highest rating category by Moody's Investors
Service, Inc., Standard & Poor's Corporation, A.M. Best & Company, or their successors.
Bonds: the Outstanding Unrefunded 1992B Bonds, the Outstanding 1998 Bonds ancl
any Additional Bonds. Business Dav: a day on which banks located in the cities in which the principal
offices of each of the Paying Agent and the Bond Insurer are not required or authorized to be closed
and on which The New York Stock Exchange is not closed.
Charter: the home rule Charter of the Town, including all amendments thereto prior
to the date hereof.
Commercial Bank: any depository for public funds permitted by the laws of the State
for political subdivisions of the State which has a capital and surplus of $10,000,000 or more, and
which is located within the United States.
Continuing Disclosure Certificate: the Continuing Disclosure Certificate executed
by the Town in connection with the 1998 Bonds, which constitutes an undertaking pursuant to Rule
15c2-12 promulgated by the U.S. Securities and Exchange Commission.
Escrow Account: the Escrow Account for the Refunding established with the Escrow
Bank.
Escrow Agreement: the Escrow Agreement dated as of September 1, 1998 between
the Town and the Escrow Bank relating to the Refunding. .
Escrow Bank: The Bank of Cherry Creek, N.A..
Financial Guarantv Agreement: the Financial Guaranty Agreement between the
Town and the Bond Insurer.
Fiscal Year: the twelve months commencing on the first day of January of any
calendar year and ending on the thirty-first day of December of such calendar year or such other
twelve month period as may from time to time be designated by the Town Council as the Fiscal Year
of the Town.
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Governmental Obliaations: any of the following which are noncallable and which
at the time of investment are legal investments under the laws of the State for the moneys proposed
to be invested therein:
(a) direct general obligations of, or obligations the payment of principal
of and interest on which are unconditionally guaranteed by, the United States of
America; (b) bonds, debentures, notes or other evidences of indebtedness issued by
the Export-Import Bank of the United States, the Federal Financing Bank, the
Farmers Home Administration, the General Services Administration, the U.S.
Maritime Administration, or the U.S. Department of Housing and Urban
Development; or
(c) evidences of ownership interests in obligations described in
paragraph (a) or (b) above.
Income Fund: the special fund by that name created by the 1989 Ordinance and
continued by this Ordinance.
Insurance Paving A ent: Citibank, N.A., or its successors under the Bond Insurance
Policy.
Letter of Re,presentations: the Letter of Representations between the Town and The
Depository Trust Company.
. Maximum Annual Debt Service Requirement: the maximum amount of all required
payments of principal and interest on the Bonds which will becorne due in any Fiscal Year.
1989 Ordinance: Ordinance No. 29, Series of 1989.
1991 Bonds: the Town's Sales Tax Revenue Bonds, Series 1991.
1992B Bonds: the Town's Sales Tax Revenue Refunding and Improvement Bonds,
Series 1992B.
1998 Bonds: collectively, the Tax-exempt 1998 Bonds and the Taxable 1998 Bonds.
Ordinance: this Ordinance of the Town, which provides for the issuance and delivery
of the 1998 Bonds.
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Outstandin~: as of any date of calculation, a11 Bonds theretofore executed, issued and
delivered by the Town except:
(1) Bonds theretofore cancelled by the Town, Registrar or Paying Agent,
or surrendered to the Town, Registrar or Paying Agent for cancellation;
(2) Bonds in lieu of or in substitution for which other Bonds shall have
been executed, issued and delivered by the Town and authenticated by the Registrar
unless proof satisfactory to the Registrar is presented that any such Bonds are duly ,
held by the lawful registered owners thereof; or
(3) Bonds deemed to have been paid as provided in Section 20 hereof.
Owner or reLaistered owner: the registered owner of any 1998 Bond as shown on the
registration records kept by the Registrar.
Paying, Agent: The Bank of Cherry Creek, N.A., Denver, Colorado, being the agent
for the Town for the payment of the 1998 Bonds and interest thereon, or its successors and assigns.
Permitted Investment: any investment or deposit shown on the list attached hereto
as Exhibit I, to the extent permitted by the Charter and Ordinances of the Town.
Person: any individual, firm, partnership, corporation, company, association, }oint-
stock association or body politic; and the term includes any trustee, receiver, assignee or other
similar representative thereof.
PledQ,ed Revenues:
(i) the revenues derived from the Pledged Sales Tax;
(ii) any additional taxes (other than a general ad valorem tax), funds or
revenues which the Town hereafter pledges to the payment of Bonds;
(iii) proceeds of the Bonds or other legally available moneys deposited into
and held in the Bond Fund and the Reserve Fund; and
(iv) interest or investment income on the Income Fund, the Bond Fund and
the Reserve Fund;
all to the extent that such moneys are at any time required by Section 15 hereof to be deposited into
and held in the Income Fund, the Bond Fund and the Reserve Fund.
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Pledized Sales Tax: tlZe proceeas of the Town's current 4% Sales Tax, which is also
pledged to the payment of the Unrefunded 1992B Bonds. "Pledged Sales Tax" does not include
incremental sales taxes which are or may be pledged to the payment of the Bonds pursuant to an
urban renewal plan as defined in §31-25-103(a), C.R.S. or a plan of development as defined in §31-
25-802 (6.4) C.R.S. "Pledged Sales TaY" does not include amounts withheld by retailers and
vendors to cover their expenses in collecting and remitting the Pledged Sales Tax, and Pledged Sa1es
Tax does not include amounts collected by the Town and subsequently determined, pursuatit to the ,
applicable Sa1es Tax Ordinances, to be subject to valid claims for refunds. "Pledged Sales Tax" does
not include the proceeds of any increase in the Sales Tax which may be approved in th.e future,
unless such increase is expressly pledged to the Bonds by the Town. "Pledged Sales Tax" does
include the proceeds derived by the Town from any legally available tax or taxes or fees (other than
a general ad valorem tax) which replace or supersede the Pledged Sales Tax, regardless of whether
such tax or taxes or fees are imposed by the Town or the State or other political subdivision thereof.
Preliminary Official Statement: the Preliminary Official Statement dated August 19,
1998.
Purchase Contract: the Purchase Agreement between the Town and the Purchaser
dated September 1, 1998.
Purchaser: Bigelow & Company.
Rebate Fund: the fund by that name created by the 1989 Ordinance and continued
by this Ordinance.
Refunded 1991 Bonds: the outstanding 1991 Bonds.
Refunded 1992B Bonds: the following portions of the 1992B Bonds maturing or
subject to mandatory redemption on the following dates:
Date Principal Amount
June 1, 1999 $ 40,000
June 1, 2000 940,000
June l, 2001 1,000,000
June l, 2002 1,055,000
June 1, 2003 1,115,000
June 1, 2004 1,185,000
June l, 2005 1,245,000
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Refundine: the refunding and defeasance of the Refunded 1991 Bonds and the
Refunded 1992B Bonds with the proceeds of the 1998 Bonds.
Re itrar: The Bank of Cherry Creek, N.A., Denver, Colorado, being the agent for
the Town for the registration, transfer and exchange of the 1998 Bonds, or its successors.
Registrar Ag, eement: the Registrar Agreement between the Town and the Registrar
dated as of September 1, 1998. ,
Regular Record Date: the fifteenth day of the calendar month next preceding each
interest payment date for the 1998 Bonds (other. than a special interest payment date hereafter fixed
for the payment of defaulted interest).
Reserve Fund: the fund by that name created by the 1989 Ordinance and continued
by this Ordinance.
Reserve Fund Requirement: an amount equal to 10% of the principal amount of the
Outstanding Bonds plus an amount equal to all investment earnings on the Reserve Fund; provided
that the Reserve Fund Requirement shall not exceed the Maximum Annual Debt Service
Requirement.
Sales Tax: the tax upon the sale and use of goods and services which is currently
being levied by the Town pursuant to the Sales Tax Ordinances and any future or amended tax levied
by the Town as a sales and use tax.
Sales Tax Ordinances: the ordinances adopted by the Town Council of the Town for
. the purpose of adopting and enforcing the Sales Tax and which are in effect on the date of this
Ordinance and as later amended or supplemented.
Special Record Date: a special date fixed to determine the names and addresses of
registered owners for purposes of paying interest on a special interest payment date for the payment
of defaulted interest, all as further provided in Section 6 hereof.
State: the State of Colorado.
Taxable 1998 Bonds: the Town's Taxable Sales Tax Revenue Refunding Bonds,
Series 1998B.
Tax-exempt 1998 Bonds: the Town's Sales Tax Revenue Refunding Bonds, Series
1998A.
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Tax Code: the Internal Revenue Code of 1986, as amended to the date of delivery
of the 1998 Bonds, and any regulations promulgated thereunder.
Town: the Town of Vail, Colorado.
Town Council: the Town Council of the Town or any successor in functions thereto.
Trust Bank: a Commercial Bank which is authorized to exercise and is exercising
trust powers. ,
Unrefunded 1992B Bonds: the Outstanding 1992B Bonds other than the Refunded
1992B Bonds.
Section 2. Recitals.
A. The Town is a municipal corporation duly organized and existing under the
Town's Charter adopted pursuant to Article XX of the Constitution of the State of Colorado.
B. Section 10.6 of the Charter permits the Town to issne securities made payable
solely out of the proceeds of any sales taxes without an election.
C. The Town imposes a Sales Tax pursuant to Section 11.1 of the Charter and
the Sales Tax Ordinances.
D. Article X of the Town Charter authorizes the Town Council (the "Council")
to issue refunding bonds without an election.
E. The Council has determined and hereby declares that it is in the Town's best
interest to refund and defease the Refunded 1991 Bonds and the Refunded 1992B Bonds
(collectively, the "Refunded Bonds").
F. Except for the Unrefunded 1992B Bonds and bonds or obligations which have
been paid or defeased as of the date of issuance of the 1998 Bonds, the Town has never pledged the
Sales Tax to the payment of any bonds or for any purpose. Simultaneously with the issuance of the
1998 Bonds, the Refunded Bonds will be refunded and defeased. The Pledged Sales Tax may now
be pledged (with a lien which is on a parity with the Unrefunded 1992B Bonds) lawfully and
irrevocably for the payment of the 1998 Bonds.
G. The Town has received a proposal from the Purchaser for the purchase of the
1998 Bonds for the purpose of defraying in whole or in part the costs of the Refunding.
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H. There have been presented to the Council the proposed forms of the following
documents: the Purchase Contract; the Escrow Agreement; the Letter of Representations; the
Financial Guaranty Agreement; the Registrar Agreement; the Continuing Disclosure Certificate; and
the Preliminary Official Statement.
1. The Town Council desires to cause the 1998 Bonds to be issued, to authorize
- and direct the application of the proceeds thereof as set forth herein, and to provide security for the
payment thereof, all in the manner set forth below. -
Section 3. Ratification. All actions heretofore taken (not inconsistent with the
provisions of this Ordinance) by the Town Council and other officers of the Town in the imposition
and collection of the Sales Tax, the Refunding, and selling and issuing the 1998 Bonds for those
purposes are ratified, approved and confirmed.
Section 4. Authorization of Refunding. The Refunding hereby is authorized.
Section 5. Authorization of the 1998 Bonds. There hereby are authorized to be
issued two issues of fully registered sales tax revenue securities of the Town, to be designated "Town
of Vail, Colorado, Sales Tax Revenue Refunding Bonds, Series 1998A" in the aggregate principal
amount of $8,760,000, and "Town of Vail, Colorado, Taxable Sales Tax Revenue Refunding Bonds,
Series 1998B" in the aggregate principal amount of $735,000, to be payable and collectible, both as
to principal and interest, from the Pledged Revenues.
Section 6. 1998 Bond Details. The 1998 Bonds shall be issued in fully registered
form (i.e., registered as to both principal and interest) initially registered in the name of Cede &.Co. .
as nominee for The Depository Trust Company, shall be dated as of September 1, 1998, shall be
issued in the denomination of $5,000 or any integral multiple thereof (provided that no 1998 Bond
of a series may be in a denomination which exceeds the principal coming due on any maturity date
for such series, and no individual 1998 Bond of a series will be issued for more than one maturity
of such series) and shall be numbered in such manner as the Registrar may determine. The 1998
Bonds shall bear interest from their dated date until maturity at the rates per annum shown below,
payable semiannually on June 1 and December 1 in each year, commencing on December 1, 1998,
except that any 1998 Bond which is reissued upon transfer, exchange or other replacement shall bear
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interest from the most recent interest payment date to which interest has been paid or duly provided
for, or if no interest has been paid, from the date of the 1998 Bonds.
The 1998A Bonds shall mature on the dates and in the amounts designated below,
as follows:
Interest
, Maturity Principal • Rate
' Date Amount (Per Annum)
2007 $985,000 4.25%
2008 1,425,000 4.30
2009 1,485,000 4.40
2010 1,550,000 4.45
2012 3,315,000 4.50
The 1998B Bonds shall mature on the dates and in the amounts designated below, as
follows:
Interest
Maturiry Principal Rate
Date Amount (Per Annum)
2006 $360,000 6.00%
2007 375,000 6.05
The principal of any 1998 Bond shall be payable to the registered owner thereof as
shown on the registration records kept by the Registrar, upon maturity thereof and upon presentation
and surrender at the Paying Agent. If any 1998 Bond shall not be paid upon such presentatiori and surrender at or after maturity, it shall continue to draw interest at the same interest rate borne by said
1998 Bond until the principal thereof is paid in full. Payment of interest on any 1998 Bond shall be
made by check or draft mailed by the Paying Agent, on or before each interest payment date (or, if
such interest payment date is not a business day, on or before the next succeeding business day), to
the registered owner thereof at the address shown on the registration records kept by the Registrar
at the close of business on the Regular Record Date for such interest payment date; but any such
interest not so timely paid or duly provided for shall cease to be payable to the person who is the
registered owner thereof at the close of business on the Regular Record Date and shall be payable
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to the person who is the registered owner thereof at the close of business on a Special Record Date
for the payment of any such defaulted interest. Such Special Record Date shall be fixed by the Registrar whenever moneys become available for payment of the defaulted interest, and notice of
the Special Record Date shall be given to the registered owners of the 1998 Bonds not less than ten
days prior to the Special Record Date by first-class mail to each such registered owner as shown on
the Registrar's registration reeords on a date selected by the Registrar, stating the date of the Special
Record Date and the date fixed for the payment of such defaulted interest. The Paying Agent may , -
make payments of interest on any 1998 Bond by such alternative means as may be mutually agreed
to between the owner of such 1998 Bond and the Paying Agent (provided, however, that the Town
shall not be required to make funds available to the Paying Agent prior to the interest payment dates
stated in this Section). All such payments shall be made in lawful money of the United States of
America without deduction for the services of the Paying Agent or Registrar.
Section 7. Prior Redemption.
A. 1998A Bonds maturing on or before December 1, 2008 are not subject to prior
redemption. 1998A Bonds maturing on and after December 1, 2009 shall be subject to prior
redemption, at the option of the Town, in whole, or in part, in integral multiples of $5,000, from such
maturities as are selected by the Town, and if less than all of the 1998A Bonds of a maturity are to
be redeemed, by lot within a maturity in such manner as the Registrar may determine, on
December 1, 2008, or on any date thereafter, at a redemption price equal to the principal amount so
redeemed plus accrued interest to the redemption date. There shall be no optional prior redemption
of 1998A Bonds unless all amounts owing to the Bond Insurer under the Financial Guaranty
Agreement or any other document have been paid in full. The 1998B Bonds are not subject to
optional redemption prior to their maturity.
B. The 1998A Bonds maturing December l, 2012, are subject to mandatory
sinking fund redemption at a price equal to the principal amount thereof plus accrued interest to the
redemption date. The 1998A Bonds subject to mandatory sinking fund redemption shall be selected
by lot in such manner as the Registrar shall determine.
As and for a sinking fund far the redemption of the Bonds maturing December 1,
2012, the Town will deposit in the Bond Fund on or before December 1, 2011, a sum which together
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with other moneys available in the Bond Fund is sufficient to redeem (after credit as provided below)
the following principal amounts of the Bonds maturing December 1, 2012:
Year Principal Amount
2011 $1,625,000
The remaining $1,690,000 ofthe Bonds maturing December 1, 2012, shall be paid upon presentation
and surrender at maturity unless redeemed pursuant to optional redemption prior to maturity. On or before the thirtieth day prior to each such sinking fund payment date, the
Registrar shall proceed to call the Bonds indicated above (or any Bond or Bonds issued to replace
such Bonds) for redemption from the sinking fund on the next December 1, and give notice of such
call without other instruction or notice from the Town.
At its option, to be exercised on or before the sixtieth day next preceding each such
sinking fund redemption date, the Town may (a) deliver to the Registrar for cancellation Bonds
subj ect to mandatory sinking fund redemption on such date in an aggregate principal amount desired
or (b) receive a credit in respect of its sinking fund redemption obligation for any Bonds of the
maturity subject to mandatory sinking fund redemption on such date, which prior to said date have
been redeemed (otherwise than through the operation of the sinking fund) and canceiied by the
Registrar and not theretofore applied as a credit against any sinking fund redemption obligation.
Each Bond so delivered or previously redeemed will be credited by the Registrar at the principal
amount thereof on the obligation of the Town on such sinking fund redemption date and the principal
amount of Bonds to be redeemed by operation of such sinking fund on such date will be accordingly
reduced. The Town will on or before the sixtieth day next preceding each sinking fund redemption
date furnish the Registrar with its certificate indicating whether or not and to what extent the
provisions of (a) and (b) of the preceding sentence aze to be availed with respect to such sinking fund
payment. Failure of the Town to deliver such certificate shall not affect the Registrar's duty to give
notice of sinking fund redemption as provided in this paragraph B.
C. In the case of 1998A Bonds of a denomination larger than $5,000, a portion
of such 1998A Bond ($5,000 or any integral multiple thereof) may be redeemed, in which case the
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Registrar shall, without charge to the owner of such 1998A Bond, authenticate and issue a
replacement 1998A Bond or Bonds for the unredeemed portion thereof.
D. The Finance Director of the Town sha11(unless waived by the Registrar) give
written instructions concerning any optional prior redemption to the Registrar at least 60 days prior
to such redemption date. Notice of redemption shall be given by the Registrar in the name of the
Town, by sending a copy of such notice by certified, first-class postage prepaid mail, not more than
60 nor less than 30 days prior to the redemption date, to the Purchaser, and to each registered owner
of any 1998A Bond, all or a portion of which is called for prior redemption, at his address as it last
appears on the registration records kept by the Registrar. Failure to give such notice by mailing to
the registered owner of any 1998A Bond or to the Purchaser of any defect therein, shall not affect
the validity of the proceedings for the redemption of any other 1998A Bonds.
Such notice sha11 identify the 1998A Bonds or portions thereof to be redeemed (if less
than all are to be redeemed) and the date fixed for redemption, and shall further state that on such
redemption date the principal amount thereof will become due and payable at the Paying Agent, and
that from and after such date interest will cease to accrue. Accrued interest to the redemption date
will be paid by check or draft mailed to the registered owner (or by alternative means if so agreed
to by the Paying Agent and the registered owner). Notice having been given in the manner provided
above, the 1998A Bond or Bonds so called for redemption shall become due and payable on the
redemption date so designated; and upon presentation and surrender thereof at the Paying Agent, the
_ Town will pay the principal of the 1998A Bond or Bonds so called for redemption. ,
Section 8. Special Obli a;,.g, tions. All of the 1998 Bonds, together with the interest
accruing thereon, and any payments due to the Bond Insurer under the Financial Guaranty
Agreement, shall be payable and collectible solely out of the Pledged Revenues, which are hereby
irrevocably so pledged; the owner or owners of the 1998 Bonds and the Bond Insurer may not look
to any general or other fund for the payment of principal and interest on the 1998 Bonds or payments
under the Financial Guaranty Agreement, except the designated special funds pledged therefor; and
the 1998 Bonds and the Financial Guaranty Agreement shall not constitute an indebtedness nor a
debt within the meaning of any applicable charter, constitutional or statutory provision or limitation;
nor shall they be considered or held to be general obligations of the Town.
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Section 9. Form of 1998 Bonds and Registration Panel. The 1998 Bonds and the
registration panel sha11 be substantially as follows (provided that any portion of the 1998 Bond text
may, with appropriate references, be printed on the back of the 1998 Bonds), with such omissions,
insertions, endorsements and variations as to any recitals of fact or other provisions as may be
required by the circumstances, be required or permitted by this Ordinance, or be consistent with this
Ordinance and necessary or appropriate to conform to the rules and requirements of any .
governmental authority or any usage or requirement of law with respect thereto:
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(Form of Bond)
Unless this certificate is presented by an authorized representative of The Depository Trust
Company, a New York corporation ("DTC"), to the Town or its agent for registration of transfer,
exchange, or payment, and any certificate issued is registered in the name of Cede & Co. or in such
other name as is requested by an authorized representative of DTC (and any payment is made to .
Cede & Co. or to such other entity as is requested by an authorized representative of DTC), ANY
TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
' ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has an _
interest herein. UNITED STATES OF AMERICA
STATE OF COLORADO COUNTY OF EAGLE
TOWN OF VAIL, COLORADO
[TAXABLE] SALES TAX REVENUE REFUNDING BOND
SERIES 1998 [A] [B]
NO. R-
$
INTEREST RATE MATURITY DATE DATED DATE CUSIP
September 1, 1998
REGISTERED OWNER:
PRINCIPAL AMOUNT: DOLLARS
The Town of Vail, in the County of Eagle and State of Colorado (the "Town"), for
value received, promises to pay to the registered owner specified above, or registered assigns, solely
from the special funds provided therefor, the principal amount specified above, on the maturity date
specified above (unless called for earlier redemption), and to pay from said sources interest thereon
on June 1 and December 1 of each year, commencing on December 1, 1998, the interest rate per
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4
annum specified above, until the principal sum is paid or payment has been provided therefor. This
bond will bear interest from the most recent interest payment date to which interest has been paid
or provided for, or, if no interest has been paid, from the date of this bond. This bond bears interest,
matures, is payable, is subject to redemption and is transferable as provided in the Bond Ordinance.
To the extent not defined herein, terms used in this bond shall have the same meanings as set forth
in the Bond Ordinance.
The principal of this bond is payable upon presentation and surrender hereof to the
principal office of the Paying Agent. Interest on this bond will be paid on or before each interest
payment date (or, if such interest payment date is not a business day, on or before the next
succeeding business day), by check or draft mailed to the person in whose name this bond is
registered in the registration records of the Town maintained by the Registrar at the principal office
and at the address appearing thereon at the close of business on the Regular Record Date.
The Bonds of which this bond is one are all of like date, tenor, and effect except as
to number, principal amount, interest rate, date of maturity, and optional prior redemption and are
issued by the Town Council of the Town of Vail, in the County of Eagle and State of Colorado, for
the purpose of refunding certain bonds of the Town under the authority of and in full conformity
with the Town's home rule charter, the constitution and laws of the State of Colorado, and pursuant
to the duly adopted Bond Ordinance.
The principal of and interest on this bond are payable only from the proceeds of the
Pledged Reyenues, all as more particularly set forth in the Bond Ordinance. This bond constitutes
a first and prior lien, but not necessarily an exclusively first lien, on the Pledged Revenues.
It is further hereby recited, certified, and warranted that all the requirements of law
have been complied with fully by the proper officers of the Town in issuing this bond.
The 1998 Bonds are authorized for the purpose of defraying wholly or in part the
costs of the Refunding (as defined in the Bond Ordinance), and for the payment of costs and
expenses incidental thereto. and to the issuance of the 1998 -Bonds, all under the authority of and in
full conformity with the Constitution of the State of Colorado and the Town Charter and pursuant
to the Bond Ordinance duly adopted, published and made a law of the Town, all prior to the issuance
of this bond.
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a
The 1998 Bonds do not constitute a debt or an indebtedness of the Town within the
meaning of any applicable charter, constitutional or statutory provision or limitation, shall not be
considered or held to be a general obligation of the Town, and are payable from, and constitute a
pledge of and an irrevocable lien (but not an exclusive lien) on, all of the proceeds to be derived by
the Town from the Pledged Revenues.
The 1998 Bonds constitute a pledge of, and an irrevocable lien (but not an exclusive
lien) on all of the Pledged Revenues, on a parity with the Town's unrefunded Sales Tax Revenue , .
Refunding and Improvement Bonds, Series 1992B. The 1998 Bonds are equitably and ratably
secured by such lien on the Pledged Sales Tax.
Reference is made to the Bond Ordinance for the provisions, among others, with
respect to the custody and application of the proceeds of the 1998 Bonds, the receipt and disposition
of the Pledged Revenues, the nature and extent of the security, the terms and conditions under which
additional bonds payable from the Pledged Revenues may be issued, the rights, duties and
obligations of the Town, the rights of the owners of the 1998 Bonds, the events of default and
remedies, the circumstances under which any 1998 Bond is no longer Outstanding, the ability to
amend the Bond Ordinance; and by the acceptance of this bond the owner hereof assents to all
provisions of the Bond Ordinance. The principal of, premium if any, and the interest on this bond
shall be paid, and this bond is transferable, free from and without regard to any equities between the
Town and the original or any intermediate owner hereof or any setoffs or cross-claims.
This, Bond shall not be valid or become obligatory for any purpose or be entitled to
any security or benefit under the Bond Ordinance until the certificate of authentication hereon shall
have been manually signed by the Bond Registrar.
IN TESTIMONY WHEREOF, the Town Council of the Town of Vail has caused this
bond to be signed and executed in its name with a manual or facsimile signature of the Mayor of the
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Town, and to be signed, executed and attested with a manual or facsimile signature of the Town
Clerk, with a manual or facsimile impression of the seal of the Town affixed hereto, all as of the date
specified above.
LManual or Facsimile Si n~ ature)
Mayor
(MANUAL OR FACSIMILE SEAL) Attest: (Manual or Facsimile Si i?n a., ture)
Town Clerk
(End of Form of Bond)
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(Form of Registrar's Certificate of Authentication)
This is one of the Bonds described in the within-mentioned Bond Ordinance, and this
Bond has been duly registered on the registration records kept by the undersigned as Registrar for
such Bonds.
THE BANK OF CHERRY CREEK, N.A.,
as Registrar
Date of Authentication By:
and Registration: Authorized Officer or Employee
(End of Form of Registrar's Certificate of Authentication)
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STATEMENT OF INSURANCE
MBIA Insurance Corporation (the "Insurer") has issued a policy containing the
following provisions, such policy being on file at The Bank of Cherry Creek, N.A., in Denver,
Colorado.
The Insurer, in consideration of the payment of the premium• and subj ect to the terms
of this policy, hereby unconditionally and irrevocably guarantees to any owner, as hereinafter
defined, of the following described obligations, the full and complete payment required to be made
by or on behalf of the Issuer to The Bank of Cherry Creek, N.A. or its successar (the "Paying
Agent") of an amount equal to (i) the principal of (either at the stated maturity or by any
advancement of maturity pursuant to a mandatory sinking fund payment) and interest on, the
Obligations (as that term is defined below) as such payments shall become due but shall not be so
paid (except that in the event of any acceleration of the due date of such principal by reason of
mandatory or optional redemption or acceleration resulting from default or otherwise, other than any
advancement of maturity pursuant to a mandatory sinking fund payment, the payments guaranteed
hereby shall be made in such amounts and at such times as such payments of principal would have
been due had there not been any such acceleration); and (ii) the reimbursement of any such payment
which is subsequently recovered from any owner pursuant to a final judgment by a court of
competent jurisdiction that such payment constitutes an avoidable preference to such owner within
the meaning of any applicable bankruptcy law. The amounts referred to in clauses (i) and (ii) of the
preceding sentence shall be referred to herein collectively as the "Insured Amounts." "Obligations"
shall mean: the Town of Vail, Colorado, Sales Tax Revenue Refunding Bonds, Series 1998A and
the Town of Vail, Colorado,.Taxable Sales Tax Revenue Refunding Bonds, Series 1998B.
Upon receipt of telephonic or telegraphic notice, such notice subsequently confirmed
in writing by registered or certified mail, or upon receipt of written notice by registered or certified
mail, by the Insurer from the Paying Agent or any owner of an Obligation the payment of any
• Insured Amount for which is then due, that such required payment has not been made, the Insurer
on the due date of such payment or within one business day after receipt of notice of such
- nonpayment; whichever is later, will make a deposit of funds, in an account with Citibank, N.A., in
New York, New York, or its successor, sufficient for the payment of any such Insured Amounts
which are then due. Upon presentment and surrender of such Obligations or presentment of such
other proof of ownership of the Obligations, together with any appropriate instruments of assignment
to evidence the assignment of the Insured Amounts due on the Obligations as are paid by the Insurer,
and appropriate instruments to effect the appointment of the Insurer as agent for such owners of the
Obligations in any legal proceeding related to payment of Insured Amounts, such instruments being
in a form satisfactory to Citibank, N.A., Citibank, N.A. shall disburse to such owners or the Paying
Agent payment of the Insured Amounts due on such Obligations, less any amount held by the Paying
Agent for the payment of such Insured Amounts and legally available therefor. This policy does not
insure against loss of any prepayment premium which may at any time be payable with respect to
any Obligation.
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As used herein, the term "owner" shall mean the registered owner of any Obligation
as indicated in the records maintained by the Paying Agent, the Issuer, or any designee of the Issuer
for such purpose. The term owner shall not include the Issuer or any party whose agreement with
the Issuer constitutes the underlying security for the Obligations.
Any service of process on the Insurer may be made to the Insurer at its offices located
at 113 King Street, Armonk, New York 10504. This policy is non-cancelable for any reason. The premium on this policy is not
refundable for any reason including the payment prior to maturity of the Obligations. MBIA INSURANCE CORPORATION
-20-
(Form of Prepayment Panel)
The following installments of principal (or portion thereo fl of this bond have been
prepaid in accordance with the terms of the Bond Ordinance authorizing the issuance of this bond.
Signature of
Date of Principal Authorized
Prepa~ment Prenaid Representative of the
Depository
(End of Form of Prepayment Panel)
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(Form of Assignment)
For value received, the undersigned hereby sells, assigns and transfers unto
the within Bond and hereby irrevocably constitutes and appoints
attorney, to transfer the same on the records of the Registrar, with full power of
substitution in the premises.
Dated:
Signature Guaranteed:
Address of transferee:
Social Security or other tax
identification number of transferee:
NOTE: The signature to this Assignment must correspond with the name as written on the face of
the within Bond in every particular, without alteration or enlargement or any change whatsoever.
EXCHANGE OR TRANSFER FEES MAY BE CHARGED
(End of Form of Assignment)
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t ,
STATE OF COLORADO )
)
COUNTY OF EAGLE ) SS. LEGAL OPINION CERTIFICATE
)
TOWN OF VAIL )
I, the undersigned Town Clerk of the Town of Vail, in the County of Eagle and State
of Colorado; do hereby certify that the following approving legal opinion of Sherman & Howard
L.L.C., Attorneys at Law, Denver, Colorado, to wit:
(Attorneys' approving opinion inserted in sabmargins, including complimentary
closing and "/s/ Sherman and Howard L.L.C.")
is a true, perfect, and complete copy of a manually executed and dated copy thereof on file in the
records of the Town; that manually executed and dated copies of the opinion were forwarded to a
representative of the original purchaser of the bonds of the series of which this bond is one; and that
the opinion was dated and issued as of the date of the delivery of and payment for such bonds.
IN WITNESS WHEREOF, I have caused to be hereunto affixed a facsimile of my
signature.
Town Clerk
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;
Section 10. Negotiabiliri. Subject to the registration provisions hereof, the 1998
Bonds shall be fully negotiable and shall have all the qualities of negotiable paper, and the owner
or owners thereof shall possess all rights enjoyed by the holders or owners of negotiable instruments
under the provisions of the Uniform Commercial Code-Irivestment Securities. The principal of and
interest on the 1998 Bonds shall be paid, and the 1998 Bonds shall be transferable, free from and
without regard to any equities between the Town and the original or any intermediate owner of any 1998 Bonds or any setoffs or cross-claims.
Section 11. Execution. The 1998 Bonds shall be executed in the name and on
behalf of the Town by the signature of the Mayor, shall be sealed with a manual or facsimile
impression of the seal of the Town and attested by the signature of the Town Clerk. Each 1998 Bond
shall be authenticated by the manual signature of an authorized ofFicer or employee of the Registrar
as provided below. The signatures of the Mayor and the Town Clerk may be by manual or facsimile
signature. The 1998 Bonds bearing the manual or facsimile signatures of the officers in office at the
time of the authorization thereof shall be the valid and binding obligations of the Town (subject to
the requirement of authentication by the Registrar as provided below), notwithstanding that before
the delivery thereof and payment therefor or before the issuance of the 1998 Bonds upon transfer or
exchange, any or all of the persons whose manual or facsimile signatures appear thereon shall have
ceased to fill their respective offices. The Mayor and the Town Clerk shall, by the execution of a
signature certificate pertaining to the 1998 Bonds, adopt as and for their respective signatures any
facsimiles thereof appearing on the 1998 Bonds. At the time of the execution of the signature ,
certificate, the Mayor and the Town Clerk may each adopt as and for his or her facsimile signature
the facsimile signature of his or her predecessor in office in the event that such facsimile signature
appears upon any of the 1998 Bonds.
No 1998 Bond shall be valid or obligatory for any purpose unless the certificate of
authentication, substantially in the form provided above, has been duly manually executed by the
Registrar. The Registrar's certificate of authentication-shall be deemed to have been duly executed
by the Registrar if manually signed by an authorized officer ar employee of the Registrar, but it sha11
not be necessary that the same ofFicer or employee sign the certificate of authentication on all of the
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s
1998 Bonds issued hereunder. By authenticating any of the 1998 Bonds initially delivered pursuant
to this Ordinance, the Registrar shall be deemed to have assented to the provisions of this Ordinance.
Section 12. Registration. Transfer and Exchange.
A. Except as provided in Sectiori 13, records for the registration and transfer of
the 1998 Bonds shall be kept by the Registrar, which is hereby appointed by the Town as registrar
(i.e., transfer agent) for the 1998 Bonds. Upon the surrender for transfer of any 1998 Bond at the
Registrar, duly endorsed for transfer or accompanied by an assignment duly executed by the
registered owner or his attorney duly authorized in writing, the Registrar shall enter such transfer on
the registration records and sha11 authenticate and deliver in the name of the transferee or transferees
a new 1998 Bond ar Bonds of the same series, of a like aggregate principal amount and of the same
maturity, bearing a number or numbers not previously assigned. 1998 Bonds may be exchanged at
the Registrar for an equal aggregate principal amount of 1998 Bonds of the series and the same
maturity of other authorized denominations. The Registrar shall authenticate and deliver a 1998
Bond or Bonds which the registered owner making the exchange is entitled to receive, bearing a
number or numbers not previously assigned. The Registrar may impose reasonable charges in
connection with such exchanges and transfers of 1998 Bonds, which charges (as well as any tax or
other governmental charge required to be paid with respect to such exchange or transfer) shall be
paid by the registered owner requesting such exchange or transfer.
B. Except as provided in Section 13, the Registrar shall not be required to
transfer or exchange (1) any 1998 Bond or portion thereof during a period beginning at the opening
of business 15 days before the day of the mailing of notice of prior redemption as herein provided
and ending at the close of business on the day of such mailing, or (2) any 1998 Bond or portion
thereof after the mailing of notice calling such 1998 Bond or any portion thereof for prior
redemption, except for the unredeemed portion of the 1998 Bonds being redeemed in part.
C. The person in whose name any 1998 Bond shall be registered on the
registration records kept by the Registrar shall be deemed and regarded as the absolute owner thereof
for the purpose of making payment thereof and for all other purposes; except as may be otherwise
provided in Section 6 hereof with respect to payment of interest; and, subject to such exception,
payment of or on account of either principal or interest on any 1998 Bond shall be made only to or
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upon the written order of the registered owner thereof or his legal representative, but such
registration may be changed upon transfer of such 1998 Bond in the manner and subject to the
conditions and limitations provided herein. All such payments shall be valid and effectual to
discharge the liability upon such 1998 Bond to the extent of the sum or sums so paid.
D. If any 1998 Bond shall be lost, stolen, destroyed or mutilated, the Registrar
shall, upon receipt of such evidence, information or indemnity relating thereto as it and the Town
may reasonably require, authenticate and deliver a replacement 1998 Bond or Bonds of a like
aggregate principal amount and of the same series and maturity, bearing a number or numbers not
previously assigned. If such lost, stolen, destroyed, or mutilated 1998 Bond shall have matured or
is about to become due and payable, the Registrar may direct the Paying Agent to pay such 1998
Bond in lieu of replacement.
E. The officers of the Town are authorized to deliver to the Registrar fully
executed but unauthenticated 1998 Bonds in such quantities as may be convenient to be held in
custody by the Registrar pending use as herein provided.
F. Whenever any 1998 Bond shall be surrendered to the Paying Agent upon
payment thereof, or to the Registraz for transfer, exchange or replacement as provided herein, such
1998 Bond shall be promptly cancelled by the Paying Agent or Registrar, and counterparts of a
certificate of such cancellation shall be furnished by the Paying Agent or Registrar to the Town.
Section 13. Book Entrv.
. A. Notwithstanding any contrary provision of this Ordinance, the 1998 Bonds
shall initially be evidenced by one 1998 Bond for each series and maturity in which the 1998 Bonds
mature in denominations equal to the aggregate principal amount of tkie 1998 Bonds maturing for
that series and maturity. Such initially delivered 1998 Bonds shall be registered in the name of
"Cede & Co." as nominee for The Depository Trust Company, the securities depository for the 1998
Bonds. The 1998 Bonds may not thereafter be transferred or exchanged except:
(1) to any -successor of The Depository Trust Company or its
nominee, which successor must be both a"clearing corporation" as defined in
Section 4-8-102(3), Colorado Revised Statutes and a qualified and registered
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"clearing agency" under Section 17A of the Securities Exchange Act of 1934, as
amended; or
(2) upon the resignation of The Depository Trust Company or a
successor or new depository under clause (1) or this clause (2) of this paragraph (a),
or a determination by the Council that The Depository Trust Company or such
successor or new depository is no longer able to carry out its functions, and the
designation by the Council of another depository institution acceptable to the Council , .
and to the depository then holding the 1998 Bonds, which new depository instiiution
must be both a"clearing corporation" as defined in Section 4-8-102(3), Colorado
Revised Statutes and a qualified and registered "clearing agency" under Section 17A
of the Securities Exchange Act of 1934, as amended, to carry out the functions of
The Depository Trust Company or such successor new depository; or
(3) upon the resignation of The Depository Trust Company or a
successor or new depository under clause (1) or clause (2) of this paragraph (a), or
a determination of the Council that The Depository Trust Company or such successor
or new depository is no longer able to carry out its functions, and the failure by the
Council, after reasonable investigation, to locate another qualified depository
institution under clause (2) to carry out such depository functions.
B. In the case of a transfer to a successor of The Depository Trust
Company or its nominee as referred to in clause (1) of paragraph (a) hereof or designation of a new
depository pursuant to clause (2) of paragraph (a) hereof, upon receipt of the Outstanding 1998
Bonds by the Bond Registrar, together with written instructions for transfer satisfactory to the Bond
Registrar, a new 1998 Bond for each series and maturity of the 1998 Bonds then Outstanding shall
be issued to such successor or new depository, as the case may be, or its nominee, as is specified in
such written transfer instructions. In the case of a resignation or determination under clause (3) of
paragraph (a) hereof and the failure after reasonable- investigation to locate another qualified
depository instiiution for the 1998 Bonds as provided in clause (3) of paragraph (a) hereof, and upon
receipt of the Outstanding 1998 Bonds by the Bond Registrar, together with written instructions for
transfer satisfactory to the Bond Registrar, new 1998 Bonds shall be issued in the denominations of
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~
$5,000 or any integral multiple thereof, as provided in and subject to the limitations of Section 12
hereof, registered in the names of such persons, and in such authorized denominations as are
requested in such written transfer instructions; however, the Bond Registrar shall not be required to
deliver such new 1998 Bonds within a period of less than 60 days from the date of receipt of such
written transfer instructions.
C. The Council, the Bond Registrar and the Paying Agent shall be entitled
to treat the registered owner of any 1998 Bond as the absolute owner thereof for all purposes hereof ,
and any applicable laws, notwithstanding any notice to the contrary received by any or all of thein
and the Council, the Bond Registrar and the Paying Agent shall have no responsibility for
transmitting payments to the beneficial owners of the 1998 Bonds held by The Depository Trust
Company or any successor or new depository named pursuant to paragraph (a) hereof.
D. The Council, the Bond Registrar and the Paying Agent shall endeavor
to cooperate with The Depository Trust Company or any successor or new depository named
pursuant to clause (1) or (2) of paragraph (a) hereof in effectuating payment of the principal amount
of the 1998 Bonds upon maturity or prior redemption by arranging for payment in such a manner
that funds representing such payments are available to the depository on the date they are due.
Section 14. Deliverv of 1998 Bonds and Disposition of Proceeds. When the 1998
Bonds have been duly executed by appropriate Town officers and authenticated by the Registrar, the
Town shall cause the 1998 Bonds to be delivered to the Purchaser on receipt of the agreed purchase
price. The 1998 Bonds shall be delivered in such denominations as the Purchaser shall direct (but
subject to the provisions of Sections 12 and 13 hereof); and the Registrar shall initially register the
1998 Bonds in such name or names as the Purchaser shall direct.
The proceeds of the sale of the Tax-Exempt 1998 Bonds, including without limitation
the accrued interest thereon, shall be deposited promptly by the Town and shall be accounted for in
the following manner and are hereby pledged therefor, but the Purchaser or any subsequent Owner
in no manner shall be responsible for the application or disposal by the Town or any of its officers
of any of the funds derived from the sale of the Tax-Exempt 1998 Bonds:
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(i) All accrued interest, if any, received in respect of the Tax-Exempt
1998 Bonds shall be credited to the Bond Fund to be applied to the payment of the
Tax-Exempt 1998 Bonds.
(ii) An amount, togetlier with the proceeds of the sale of the
Taxable 1998 Bonds deposited to the Escrow Fund as provided below and other
available funds of the Town, sufficient to establish any initial cash balance remaining .
uninvested and to buy Governmental Obligations to effect the Refunding shall be
deposited to the Escrow Account.
(iii) All remaining proceeds of the Tax-exempt 1998 Bonds shall
be used, together with any other available moneys therefor, to pay a portion of the
premium for the Bond Insurance Policy and costs incidental to the issuance of the
1998 Bonds. Any such amounts remaining after payment of all such costs shall be
deposited in the Bond Fund and applied to the payment of the principal of and
interest on the Tax-exempt 1998 Bonds.
The proceeds of the sale of the Taxable 1998 Bonds, including without limitation the
accrued interest thereon, shall be deposited promptly by the Town and shall be accounted for in the
following manner and are hereby pledged therefor, but the Purchaser or any subsequent Owner in
no manner shall be responsible for the application or disposal by the Town or any of its officers of
any of the funds derived from the sale of the Taxable 1998 Bonds:
- , (i) All accrued interest, if any, received in respect of the Taxable ,
1998 Bonds shall be credited to the Bond Fund to be applied to the payment of the
Taxable 1998 Bonds.
(ii) An amount, together with the proceeds of the sale of the Tax-
Exempt 1998 Bonds deposited to the Escrow Fund as provided below and other
available funds of the Town, sufficient to establish any initial cash balance remaining
_uninvested and to buy. Gover.nmental -Obligations to effect the Refunding shall be
deposited to the Escrow Account.
(iii) All remaining proceeds of the Taxable 1998 Bonds shall be
used, together with any other available moneys therefor, to pay a portion of the
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i
premium for the Bond Insurance Policy and costs incidental to the issuance of the
1998 Bonds. Any such amounts remaining after payment of all such costs shall be
deposited in the Bond Fund and applied to the payment of the principal of and
interest on the Taxable 1998 Bonds.
Section 15. Use of Monevs in Income Fund. Subject to Section 17, so long ,
as any Bonds shall be Outstanding, either as to principal or interest, the Pledged .Revenues shall,
upon receipt by the Town, be deposited in a special and separate account, heretofore created and
established by the 1989 Ordinance and continued by this Ordinance, known as the "Town of Vail
Income Fund." The following payments shall be made from the Income Fund:
A. Bond Fund. First, there shall be credited from the Income Fund to a fund
created by the 1989 Ordinance and known as the "Town of Vail, Sales Tax Bond Fund" the
following amounts:
1. Interest Pavments. Monthly to the Bond Fund an amount in equal
monthly installments necessary, together with any moneys therein and available therefor, to pay the
interest due and payable on the Outstanding Bonds on the next succeeding interest payment date.
2. Principai Payments. Monthly to the Bond Fund an amount in equal
monthly installments necessary, together with any moneys therein and available therefor, to pay the
principal and redemption premium, if any, due and.payable on the Outstanding Bonds on the next
_ succeeding principal payment date.
If prior to any interest payment date or principal payment date there has been
accumulated in the Bond Fund the entire amount necessary to pay the next maturing installment of
interest or principal, or both, the payment required in subparagraph (1) or (2) (whichever is
applicable) of this paragraph, may be appropriately reduced; but the required monthly amounts again
shall be so credited to such account commencing on such interest payment date or principal payment
date. The moneys in the Bond Fund shall be used only-to pay the principal of, prior redemption
premium if any, and interest on the Bonds as the same becomes due.
B. Reserve Fund. Second, except as provided below, from any moneys
remaining in the Income Fund there shall be credited monthly to a separate account created by the
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1989 Ordinance and continued by this Ordinance known as the "Town of Vail Sales Tax Revenue
Bonds Reserve Fund" an amount, if any, which is necessary to maintain the Reserve Fund as a
continuing reserve in an amount not less than the Reserve Fund Requirement or to pay the issuer of
any Bond Reserve Insurance Policy any amounts owing to such issuer under the terms of the Bond
Reserve Insurance Policy. In determining the amounts required to be deposited as provided above,
the Town shall receive credit for any investment earnings on the deposit in the Reserve Fund.
Investment earnings on deposits in the Reserve Fund shall remain in the Reserve Fund until the
amount on deposit equals the Maximum Annual Debt Service Requirement. No credit need be made
to the Reserve Fund so long as the moneys and/or a Bond Reserve Insurance Policy therein equal
the Reserve Fund Requirement (regardless of the source of such accumulations). The Reserve Fund
Requirement shall be accumulated and maintained as a continuing reserve to be used, except as
provided in subsections C and E of this Section and Section 21 hereof, only to prevent deficiencies
in the payment of the principal of and the interest on the Bonds resulting from the failure to credit
to the Bond Fund sufficient funds to pay said principal and interest as the same accrue or to pay the
issuer of any Bond Reserve Insurance Policy any amounts owing to such issuer under the terms of
the Bond Reserve Insurance Policy. The Reserve Fund Requirement sha11 be calculated upon (i) any
principal payment, whether at stated maturity or upon redemption, (ii) the issuance of Additional
Bonds, or (iii) the defeasance of all or a portion of the Bonds.
In lieu of all or a portion of the moneys required to be deposited in the Reserve Fund
by this Ordinance, the Town may at any time or from time to time (but only with the prior written
consent of the Bond Insurer if the provider, is other than the Bond Insurer) deposit a Bond Reserve
Insurance Policy in the Reserve Fund in full or partial satisfaction of the Reserve Fund Requirement.
Any such Bond Reserve Insurance Policy shall be payable on any date on which moneys will be
required to be withdrawn from the Reserve Fund as provided herein. Upon deposit of any Bond
Reserve Insurance Policy in the Reserve Fund, the Town may transfer moneys equal to the amount
payable under the Bond Reserve Insurance-Policy from the Reserve Fund and apply such moneys
to any lawful purpose.
All cash and investments in the Reserve Fund shall be transferred to the Bond Fund
for payment of principal and interest on the Bonds before any drawing may be made on any Bond
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Reserve Insurance Policy credited to the Reserve Fund in lieu of cash. Payment of any amounts
owing to the provider of a Bond Reserve Insurance Policy shall be made prior to replenishment of
any such cash amounts. Draws on all Bond Reserve Insurance Policies on which there is available
coverage shall be made on a pro-rata basis (calculated by reference to the coverage then available
thereunder) after applying all available cash and investments in the Reserve Fund. Payment of
amounts owing to the providers of Bond Reserve Insurance Policies shall be made on a pro-rata
basis prior to replenishment of any cash drawn from the Reserve Fund. The Town shall notify the Paying Agent and the provider of Bond Reserve Insurance
Policy of the necessity for a claim upon the Bond Reserve Insurance Policy at least three Business
Days prior to each date upon which interest or principal is due on the Bonds. The Paying Agent sha11
give notice to Bond Insurer of any failure of the Town to make timely payment in full of any deposit
required to be made under the Registrar Agreement.
If the tax covenant contained in Section 20.K. of this Ordinance does not permit the
use of proceeds of any series of Bonds for a full funding of the Reserve Fund in the amount of the
Reserve Fund Requirement, the maximum amount of proceeds of such series of Bonds which may
be deposited to the Reserve Fund pursuant to Section 20.K. shall be deposited to the Reserve Fund
upon the issuance of such series of Bonds and Pledged Revenues shall be deposited to the Reserve
Fund monthly so that not later than twelve calendar months after the date of issuance of such series
of Bonds the amount on deposit in the Reserve Fund shall equal the Reserve Fnnd Requirement.
C. Termination U ot~ n Deposits to Maturitv or Redemption Date. No payment
need be made into the Bond Fund, the Reserve Fund, or both, if the amount in the Bond Fund and
the amount in the Reserve Fund total a sum at least equal to the entire amount of the Outstanding
Bonds, both as to principal and interest to their respective maturities, or to any redemption date on
which the Town shall have exercised its option to redeem the Bonds then Outstanding and thereafter
maturing, including any prior redemption premiums then due, and both accrued and not accrued, in
which case moneys in the Bond Fund and Reserve Fund in an amount at least equal to such principal
and interest requirements shall be used solely to pay such as the same accrue, and any moneys in
excess thereof in the two Funds may be withdrawn and used for any lawful purpose.
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D. Defrayin Delinquencies in Bond and Reserve Funds. If on any required
monthly payment date the Town shall for any reason fail to pay into the Bond Fund the full amount
above stipulated, then an amount shall be paid into the Bond Fund on such date from the Reserve
Fund equal to the difference between the amount paid and the full amount so stipulated. Any cash
on deposit in the Reserve Fund shall be transferred to the Bond Fund to cover such a deficiency prior
to the transfer of funds drawn under the Bond Reserve Insurance Policy. If the Reserve Fund
contains a Bond Reserve Insurance Policy from a provider other than the Bond Insurer and a Bond , .
Reserve Insurance Policy provided by the Bond Insurer, any draw shall be on a pro-rata basis from
both such Policies. After such a draw any available Pledged Revenues, after the payments required
by paragraph A of this Section, shall be used first to repay the Bond Insurer to reinstate the Bond
Reserve Insurance Policy and then to replenish cash in the Reserve Fund. The cash so used shall be
replaced in the Reserve Fund from the first Pledged Revenues received that are not required to be
otherwise applied by this Section, but excluding any payments required for any subordinate
obligations; provided, however, that an amount equal to the amount withdrawn from the Reserve
Fund shall be deposited by the Town in the Reserve Fund no later than twelve months from the date
of such withdrawal. If at any time the Town shall for any reason fail to pay into the Reserve Fund
the full amount above stipulated from the Pledged Revenues, the difference between the amount paid
and the amount so stipulated shall in a like manner be paid therein from the first Pledged Revenues
thereafter received not required to be applied otherwise by this Section, but excluding any payments
required for any subordinate obligations. The moneys in the Bond Fund and in the Reserve Fund
shall be used solely for the purpose of paying the principal and any redemption premium of and the
interest on the Bonds, except that moneys in the Reserve Fund shall be used to pay the issuer of any
Bond Reserve Insurance Policy any amounts owing to such issuer under the terms of the Bond
Reserve Insurance Policy; provided, however, that any moneys at any time in excess of the Reserve
Fund Requirement calculated with respect to the Bonds in the Reserve Fund may be withdrawn
therefrom and used for any lawful purpose; and provided,-further, that any moneys in the Bond Fund
and in the Reserve Fund in excess of accrued and unaccrued principal and interest requirements to
the respective maturities of the Outstanding Bonds may be used as provided in Paragraphs G and H
of this Section.
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E. Rebate Fund. Third, there shall be deposited in a special account created by
the 1989 Ordinance and continued by this Ordinance known as the "Town of Vail.Sales Tax
Revenue Bonds Rebate Fund" amounts required by Section 148(f) of the Tax Code to be held until
such time as any requirea rebate payment is made. Amounts in the Rebate Fund shall be used for
the purpose of making the payments to the United States required by Section 148( fl of the Tax Code.
Any amounts in excess of those required to be on deposit tlierein by Section 148(f) of the Tax Code .
shall be withdrawn therefrom and deposited into the Income Fund. Funds in the Rebate Eund shall
not be subject to the lien created by this Ordinance to the extent such amounts aze required to be paid
to the United States Treasury. The Town may create separate accounts in the Rebate Fund in
connection with the issuance of Additional Bonds.
F. Interest on Bond Instxance Policv Draws. After the payments required by A,
B and E of this Section, the Pledged Revenues shall be used to pay interest on amounts advanced
under any Bond Reserve Insurance Policy.
G. Pavment for Subordinate Obli ations. After the payments required by
Paragraphs A, B, E, and F of this Section, the Pledged Revenues shall be used by the Town for the
payment of interest on and principal of any obligations secured by Pledged Revenues subordinate
to the lien of the Bonds and on a parity with or subordinate to the lien of the Financial Guaranty
Agreement hereafter authorized to be issued, including reasonable reserves therefor.
H. Use of Remaining Revenues. After making the payments required to be made
by this Section, any remaining Pledged Revenues may be used for any lawful purpose.
Nothing in this Ordinance shall prevent the Town from withdrawing from the Income
Fund amounts collected by the Town and subsequently deternuned, pursuant to the applicable Sales
Tax Ordinances, to be subject to valid claims for refunds.
Section 16. General Administration of Funds. The funds designated in Sections 14
and 15 hereof shall be administered as follows subject to the limitations stated in Section 20.K.
hereof:
A. Budget and Appropriation of Funds. The sums provided to make the
payments specified in Section 15 hereof are hereby appropriated for said purposes, and said amounts
for each year shall be included in the annual budget and the appropriation ordinance or measures to
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be adopted or passed by the Town Council in each year respectively while any of the 1998 Bonds,
either as to principal or interest, aze Outstanding and unpaid. No provision of any constitution,
statute, charter, ordinance, resolution or other order or measure enacted after the issuance of the 1998
Bonds shall in any manner be construed as limiting or impairing the obligation of the Town to keep
and perform the covenants contained in this Ordinance so long as any of the 1998 Bonds remain
Outstanding and unpaid. Nothing herein shall prohibit the Town Council, at its sole option, from
appropriating and applying other funds of the Town legally available for such purpose to the Bond -
Fund or Reserve Fund for the purpose of providing for the payment of the principal of and interest
on the 1998 Bonds.
B. Places and Times of Deposits. Each of the special funds created in Section 15
hereof shall be maintained by the Town as separate book accounts solely for the purposes herein
designated therefor. . For purposes of investment of moneys, nothing herein prevents the
commingling of moneys accounted for in any two or more such book accounts pertaining to the
Pledged Revenues or to such funds and any other funds of the Town to be established or continued
under this Ordinance. Such book account shall be continuously secured to the fullest extent required
by the laws of the State for the securing of public funds and shall be irrevocable and not
withdrawable by anyone for any purpose other than the respective designated purposes of such funds
or accounts. Each periodic payment shall be credited to the proper book account not later than the
date therefor herein designated, except that when any such date shall be a Saturday, a Sunday or a
legal holiday, then such payment shall be made on or before the next preceding business day.
C. Investment of Funds. Any moneys in any fund established or continued by
Section 15 of this Ordinance may be invested or reinvested in any Permitted Investment. Securities
or obligations purchased as such an investznent shall either be subject to redemption at any time at
face value by the holder thereof at the option of such holder, or shall mature at such time or times
as shall most nearly coincide with the expected need for moneys from the fund in question.
Securities or obligations so purchased as ara investment~of moneys in any such fund shall be deemed
at all times to be a part of the applicable fund. The Town shall present for redemption ar sale on the
prevaiIing market any securities or obligations so purchased as an investment of moneys in a given
fund whenever it shall be necessary to do so in order to provide moneys to meet any required
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3
payment or transfer from such fund. The Town shall have no obligation to make any investment or
reinvestment hereunder, unless any moneys on hand and accounted for in any one account exceed
$5,000 and at least $5,000 therein will not be needed for a period of not less than 60 days. In such
event the Town shall invest or reinvest not less than substantially all of the amount which will not
be needed during such 60 day period, except for any moneys on deposit in an interest bearing
account in a Commercial Bank, without regard to whether such moneys are evidenced by a
certificate of deposit or otherwise, pursuant to this Section 16.C. and Section 16.E. hereof; but the
Town is not required to invest, or so to invest in such a manner, any moneys accounted for hereunder
if any such investment would contravene the covenant concerning arbitrage in Section 20.K. hereof.
D. No Liability for Losses Incurred in Performing Terms of Ordinance. Neither
the Town nor any officer of the Town shall be liable or responsible for any loss resulting from any
investment or reinvestment made in accordance with this Ordinance.
E. Character of Funds. The moneys in any fund or account herein authorized
shall consist of lawful money of the United States or investments permitted by Section 16.C. hereof
or both such money and such investments. Moneys deposited in a demand or time deposit account
in or evidenced by a certificate of deposit of a Commercial Bank pursuant to Sections 16.13. and
16.C. hereof, appropriately secured according to the laws of the State, shall be deemed lawful money
of the United States.
Section 17. Lien on Pledged Revenues. The 1998 Bonds constitute a pledge of,
and an irrevocable, f rst lien (but not an exclusive first lien) on all of the Pledged Revenues on a
parity with the lien of the Unrefunded 1992B Bonds. The 1998 Bonds are equitably and ratably
secured by a lien on the Pledged Revenues.
Section 18. Additional Bonds.
A. Limitations Upon Issuance of Additional Bonds. Nothing in this Ordinance
shall be construed in such a manner as to prevent the issuance by the Town of additional bonds or
other obligations, payable-from and constitutinga lien .upon. the Pledged Revenues on a parity with
the lien of the 1998 Bonds (the "Additional Bonds"). Such Additional Bonds may be payable solely
from Pledged Revenues ar they may be payable from Pledged Revenues and another revenue or fund
of the Town ("Additional Pledged Revenues"). Regardless of whether payable solely from Pledged
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Revenues or from Pledged Revenues and Additional Pledged Revenues, such bonds or other
obligations may be issued only if for the Fiscal Year immediately preceding the issuance of any
- Additional Bonds, the amount of Pledged Sales Tax Revenues in such Fiscal Year equalled or
exceeded 150% of the Maximum Annual Debt Service Requirement on the Bonds (including the
Additional Bonds proposed to be issued). For the purpose of satisfying the aforementioned 150%
test, any tax, now existing or hereafter imposed, which legally becomes a part of the Pledged Sales
Tax Revenues during the Fiscal Year preceding the issuance of Additional Bonds, or any tax which _
is to legally become a part of the Pledged Sales Tax Revenues immediately prior to the issuance of
Additional Bonds, or any increase in the rate of any tax which is a part of the Pledged Sales Tax
Revenues which increase is imposed during the Fiscal Year preceding the issuance of Additional
Bonds or any such increase which is to be imposed immediately prior to the issuance of Additional
Bonds can be considered for its estimated effect on the amount of the Pledged Sales Tax Revenues
as if such tax or increase had been in effect for the Fiscal Year immediately preceding the issuance
of such Additional Bonds. Any tux which is no longer in effect at the time of issuance of the
Additional Bonds shall not be considered for purposes of satisfying such tests.
If the ordinance authorizing a series of Additional Bonds will pledge Additional
Pledged Revenues to the Bonds, the estimated effect of the amount of such Additional Pledged
Revenues may be considered as if such revenues had been received for the last Fiscal Year
immediately preceding the issuance of such Additional Bonds.
B. Certificate of Revenues. A written certification by a certified public
accountant who is not an employee of the Town that the requirements of Paragraph A of this Section
have been met shall be conclusively presumed to be accurate in determining the right of the Town
to authorize, issue, sell and deliver said Additional Bonds on a parity with the 1998 Bonds herein
authorized.
C. Subordinate Obligations Permitted. Nothing in this Ordinance shall be
construed in such a manner as to preverat the issuance by the T-own of additional obligations payable
from and constituting a lien upon the Pledged Revenues subordinate or junior to the lien of the 1998
F3onds.
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D. Superior Obligations Prohibited. Nothing in this Ordinance shall be construed
so as to permit the Town to hereafter issue obligations payable from the Pledged Revenues having
a lien thereon prior or superior to the 1998 Bonds.
Section 19. RefundingObli ations.
A. Generallv. If at any time after the 1998 Bonds, or any part thereof, shall have
been issued and remain Outstanding, the Town shall find it desirable to refund any Outstanding obligations payable from the Pledged Revenues, said obligations, or any part thereof, may be
refunded, subject to the provisions of Paragraph B of this Section, if (1) the obligations to be
refunded, at the time of their required surrender for payment, shall then mature or shall then be
callable for prior redemption at the Town's option upon proper call, or (2) the owners of the
obligations to be refunded and the Bond Insurer, if the Bond Insurer insured such obligations,
consent to such surrender and payment.
B. Protection of Obliizations Not Refunded. Any refunding obligations payable
from the Pledged Revenues shall be issued with such details as the Town Council may provide, so
long as there is no impairment of any contractual obligation imposed upon the Town by any
proceedings authorizing the issuance of any unrefunded portion of obligations payable from the
Pledged Revenues; but so long as any 1998 Bonds are Outstanding, refunding obligations payable
from the Pledged Revenues may be issued on a parity with the unrefunded Bonds only if:
1. Prior Consent. The Town first receives the consent of the owner or
- owners of the unrefunded Bonds and the Bond Insurer, if the Bond Insurer insured such obligations; .
or
2. Requirements Not Increased. The refunding obligations do not
increase by more than $25,000, for any Fiscal Year prior to and including the last maturity date of
any unrefunded Bonds, the aggregate principal and interest requirements evidenced by such
refunding obligations and by any Outstanding Bonds not refunded, and the lien of any refunding
parity obligations on the Pledged-Revenues-is not raised to a higher-priority than the lien thereon of
any obligations thereby refunded; or
3. Earnin s Test. The refunding obligations are issued in compliance
with Paragraphs A and B of Section 18 hereof.
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Section 20. Protective Covenants. The Town hereby additionally covenants and
agrees with each and every owner of the 1998 Bonds that:
A. Use of 1998 Bond Proceeds. The Town will proceed with the Refunding
without delay and with due diligence.
B. Pavment of 1998 Bonds. The Town will promptly pay the principal of and
interest on every 1998 Bond issued hereunder and secured hereby on the dates and in the manner
- specified herein and in said 1998 Bonds according to the true intent and meaning hereof. Sucfi principal and interest is payable solely from the Pledged Revenues.
C. Amendment of ertain Ordinances• Du tt~mpose Sales Tax• Impairment
of Contract. The Sales Tax Ordinances are in full force and effect and have not been repealed or
amended. The Town will not repeal or amend said Sales Tax Ordinances in any manner which
would diminish the proceeds of the Sa1es TaY by an amount which would materially adversely affect
the rights of the owners of the Bonds. The Town agrees that any law, ordinance or resolution of the
Town in any manner affecting the Pledged Revenues or the Bonds, or otherwise appertaining thereto,
shall not be repealed or otherwise directly or indirectly modified in such manner as to materially
adversely affect any Bonds Outstanding, unless the required consent is obtained, all as provided in
Section 35 of this Ordinance.
Notwithstanding any other provision of this Section or this Ordinance, the Town shall
retain the right to make changes, without any consent of Bond owners or the Bond Insurer, in the
Sales Tax Ordinances, or any ordinance supplemental thereto or in substitution therefor, concerning
the use of proceeds of the Pledged Sales Tax remaining after the current requirements of all
ordinances authorizing bonds or other securities payable from the Pledged Sales Tax, or any port ion
thereof, have been met; or concerning changes in applicability, exemptions, administration,
collection, or enforcement of the Sales Tax, if such changes do not materially adversely affect the
security for the Bonds; but the Town shall not reduce the current rate of the Pledged Sales Tax
without the consent of _the -owners -of -66 -percent in -aggregate principal amount of the then
Outstanding 1998 Bonds or the Bond Insurer (whichever is appropriate), as provided in Section 35
of this Ordinance.
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The faregoing covenants are subject to compliance by the Town with orders of courts
of competent jurisdiction concerning the validity, constitutionality or collection of such tax revenues,
any legislation of the United States or the State or any regulation or other action taken by the federal
government, any Sta.te agency or any political subdivision of the State pursuant to such legislation,
in the exercise of the police power thereof for the public welfare, which legislation, regulation or
, action applies to the Town as a Colorado home rule city and limits or otherwise inhibits the amount
of such tax revenues due to the Town. All of the Pledged Revenues resulting from the imposition .
and collection of the Sales Taac shall be subject to the payment of the principal of, interest on, and
redemption premium, if any, of all securities payable from the Pledged Revenues, including reserves
therefor, as provided herein or in any instrument supplemental or amendatory hereof.
D. Defense of Legali of Pledged Revenues. There is not pending or threatened
any suit, action or proceeding against or affecting the Town before or by any court, arbitrator,
administrative agency or other governmental authority which affects the validity or legality of this
Ordinance, or the Sales Tax Ordinances or the imposition and collection of the Sales Tax, any of the
Town's obligations under this Ordinance or any of the transactions contemplated by this Ordinance
or the Sales Tax Ordinances.
The Town shall, to the extent pernutted by law, defend the validity and legality of this
Ordinance, the Sales Tax and the Sales Tax Ordinances against all claims, suits and proceedings
which would diminish or impair the Pledged Revenues. Furthermore, the Town shall amend from
. time to time the provisions of any ordinance or resolution of the Town, as necessary to prevent
impairment of the Pledged Revenues as required to meet the principal of and interest on the 1998
Bonds when due.
E. Further Assurances. At any and all times the Town shall, so far as it may be
authorized by law, pass, make, do, execute, acknowledge, deliver and file or record all and every
such further instruments, acts, deeds, conveyances, assignments, transfers, other documents and
assurances as may be necessaxy or desirable_for the better assuring, conveying, granting, assigning
and confirming all and singular the rights, the Pledged Revenues and other funds and accounts
hereby pledged or assigned, or intended so to be, or which the Town may hereafter become bound
to pledge or to assign, or as may be reasonable and required to carry out the purposes of this
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Ordinance. The Town, acting by and through its officers, or otherwise, shall at all times, to the
eatent pernutted by law, defend, preserve and protect the pledge of said Pledged Revenues and other
funds and accounts pledged hereunder and all the rights of every owner of any of the 1998 Bonds
against all claims and demands of all Persons whomsoever.
F. Conditions Precedent. Upon the issuance of any of the 1998 Bonds, all
conditions, acts and things required by the Constitution or laws of the United States, the Constitution
or laws of the State, the Charter or this Ordinance, to exist, to have happened, and to have been -
performed precedent to or in the issuance of the 1998 Bonds shall exist, have happened and have
been performed, and the 1998 Bonds, together with all other obligations of the Town, shall not
contravene any debt or other limitation prescribed by the Constitution or laws of the United States,
the Constitution or laws of the State or the Charter.
G. Records. So long as any of the 1998 Bonds remain Outstanding, proper books
of record and account will be kept by the Town, separate and apart from all other records and
accounts, showing complete and correct entries of all transactions relating to the Pledged Revenues and the funds created or continued by this Ordinance.
H. Audits. The Town further agrees that it will, within 140 days following the
close of each fiscal year, cause an audit of such books and accounts to be made by a certified public
accountant, who is not an employee of the Town, showing the revenues and expenditures of the
Pledged Revenues. The Town agrees to allow the owner of any of the 1998 Bonds to review and
copy such audits and reports, at the Town's offices, at his request. Copies of such audits and reports
will be furnished to Bond Insurer and the Purchaser.
1. Performin Duties. The Town will faithfully and punctually perform all
duties with respect to the Pledged Revenues required by the Charter and the Constitution and laws
of the State and the ordinances and resolutions of the Town, including but not limited to the proper
collection and enforcement of the Sales Taxes and the segregation of the Pledged Revenues and their
application to the respective funds herein designated.
J. Other Liens. As of the date of issuance of the 1998 Bonds and after the
Refunding, other than the Unrefunded 1992B Bonds, there are no liens or encumbrances of any
nature whatsoever on or against any of the Pledged Revenues.
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K. Tax Covenant. The Town covenants for the benefit of the Registered Owners
of the Tax-exempt 1998 Bonds that it will not take any action or omit to take any action with respect
to the Tax-exempt 1998 Bonds, the proceeds thereof, any other funds of the Town or any facilities
re-financed with the proceeds of the Tax-exempt 1998 Bonds if such action or omission (i) would
cause the interest on the Tax-exempt 1998 Bonds to lose its exclusion from gross income for federal
income tax purposes under Section 103 of the Tax Code, (ii) would cause interest on the Tax-exempt
1998 Bonds to lose its exclusion from alternative minimum taxable income as defined in , .
Section 55(b)(2) of the Tax Code except to the extent such interest is required to be included in
adjusted current earnings adjustment applicable to corporations under Section 56 of the Tax Code
in calculating corporate alternative minimum taxable income, or (iii) would cause interest on the
Tax-exempt 1998 Bonds to lose its exclusion from Colorado taxable income or Colorado alternative
minimum taxable income under present Colorado law. The foregoing covenant shall remain in full
force and effect notwithstanding the payment in full or defeasance of the Tax-exempt 1998 Bonds
until the date on which all obligations of the Town in fulfilling the above covenant under the Tax
Code and Colorado law have been met.
The Town hereby designates the Tax-exempt 1998 Bonds as "qualified tax-exempt
obligations" far purposes of Section 265(b)(3) of the Tax Code.
L. Town's Existence. The Town will maintain its corporate identity and
existence so long as any of the 1998 Bonds remain Outstanding, unless another political subdivision
by operation of law succeeds to the duties, privileges, powers, liabilities, disabilities, immunities and
rights of the Town and is obligated by law to receive and distribute the Pledged Revenues in place
of the Town, without materially adversely affecting the privileges and rights of any owner of any
Outstanding 1998 Bonds.
M. Performance of Duties. The Town will faithfully and punctually perform or
cause to be performed all duties with respect to the Pledged Revenues, the proper segregation of the
Pledged Revenues as set forth in Section 14 hereof and their application to the respective funds as
herein provided.
N. Prompt Collections. The Town will cause the Pledged Revenues to be
collected promptly and accounted for in the funds as herein provided.
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0. Surety Bonds. Each official of the Town having custody of the Pledged
Revenues, or responsible for their handling, shall be fully bonded at all times, which bond shall be
conditioned upon the proper application of such money.
P. Prejudicial Contracts and Action Fro 'bited. No contract will be entered into,
nor will any action be taken, by the Town by which the rights and privileges of any Owner are
impaired or diminished. .
Q. Continuing Disclosure Certificate. The Town will comply with the terms of the Continuing Disclosure Certificate. Any failure by the Town to perform in accordance with this
Section 20.Q shall not constitute an "event of default" under Section 23 of this Ordinance, and the
rights and remedies provided by this Ordinance upon the occurrence of an "event of default" shall
not apply to any such failure. Unless otherwise required by law, no owner of a 1998 Bond shall be
entitled to damages for the Town's non-compliance with its obligations under this Section 20.Q ;
however, the owners of the 1998 Bonds may enforce specific perfortnance of the obligations
contained in this Section 20.Q by any judicial proceeding available.
Section 21. Defeasance. When the 1998 Bonds have been fully paid both as to
principal and interest and all amounts due to the Bond Insurer under the Financial Guaranty
Agreement have been paid, all obligations hereunder shatl be discharged and the 1998 Bonds shall
no longer be deemed to be Outstanding for any purpose of this Ordinance, except as set forth in
Section 20.K. hereof. Payment of any 1998 Bonds shall be deemed made when the Town has placed
in escrow with a Trust Bank an amount sufficient (including the known minimum yield from
Govemmental Obligations) to meet all requirements of principal and interest on such 1998 Bonds
as the same become due to maturity or a designated prior redemption date; and, if 1998 Bonds are
to be redeemed prior to maturity pursuant to Section 7.A. hereof, when the Town has given to the
Registrar inevocable written instructions to give notice of prior redemption in accordance with
Section 7.C. hereof. The Governmental Obligations shall become due at or prior to the respective
times on which the proceeds-thereof shall be needed, -in -accordance with a~schedule agreed upon
behween the Town and such Trust Bank at the time of creation of the escrow and shall not be callable
prior to their scheduled maturities by the issuer thereof.
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In the event that there is a defeasance of only part of the 1998 Bonds of any maturity,
the Registrar shall, if requested by the Town, institute a system to preserve the identity of the
individual 1998 Bonds or portions thereof so defeased, regardless of changes in bond numbers
attributable to transfers and exchanges of 1998 Bonds; and the Registrar shall be entitled to
reasonable compensation and reimbursement of expenses from the Town in connection with such
system. ,
Notwithstanding the Town's deposit of Governmental Obligations to pay when due
the principal and interest to become due on the Taxable 1998 Bonds as described above, the Town
is obligated to contribute additional securities to pay the Taxable 1998 Bonds if necessary to provide
sufficient amounts to satisfy the payment obligations on the Taxable 1998 Bonds unless the Town
has obtained an opinion of bond counsel to the effect that such continuing obligation to contribute
additional securities is not necessary to prevent a deemed reissuance under Section 1001 of the Tax
Code.
Section 22. Delesiated Powers• Accemance of Purchase Contract. The officers of
the Town hereby are authorized and direeted to take all action necessary or appropriate to effectuate
the provisions of this Ordinance, including, without limiting the generality of the foregoing, the
printing of the 1998 Bonds with the opinion of bond counsel thereon, the procuring of bond
insurance, entering into and executing appropriate agreements with the Registrar and Paying Agent
as to its services hereunder, and the execution of such certificates as may be required by the
- Purchaser, including, but not necessarily limited to, the absence and existence of factors affecting ,
the exclusion of interest on the Tax-exempt 1998 Bonds from gross income for federal income tax
purposes.
The form, terms and provisions of the Purchase Contract, the Registrar Agreement,
the Escrow Agreement, the Financial Guaranty Agreement, the Continuing Disclosure Certificate
and the Letter of Representations hereby are approved, and the Town shall enter into and perform
its obligations under the Purchase Contract, ihe Registrar Ag-reement; the Escrow Agreement, the
Financial Guaranty Agreement, the Continuing Disclosure Certificate and the Letter of
Representations in substantially the forms of such documents presented to the Town Council at this
meeting, with only such changes therein as are required by the circumstances and are not
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inconsistent herewith; and the Mayor and Town Clerk are hereby authorized and directed to execute
and deliver such documents as required hereby. The Preliminary Official Statement hereby is
approved and the officers of the Town are authorized and directed to participate in the preparation
of, and to execute and deliver, a final official statement for the 1998 Bonds. The execution of the
final official statement by the Finance Director shall be conclusively deemed to evidence the Town's
approval of the form and contents thereof.
The Council hereby accepts the Purchase Contract as submitted by the Purchaser, arid hereby authorizes the sale of the 1998 Bonds to the Purchaser at a price of $9,392,247.25 (consisting
of par less underwriter's discount of $80,707.50 and original issue discount of $22,045.25) plus
accrued interest, and otherwise upon the terms, conditions and provisions as set forth in the Purchase
Contract. The Council hereby determines that the sale of the 1998 Bonds as provided herein and in
the Purchase Contract is to the best advantage of the Town.
Section 23. Events of Default. Each of the following events is hereby declared
an "event of default:"
A. Nonpayment of Principal. If payment of the principal of any of the 1998
Bonds in connection therewith, shall not be made when the same shall become due and payable at
maturity or by proceedings for prior redemption; or
B. Nonpayment of Interest. If payment of any installment of interest on the 1998
Bonds shall not be made when the same becomes due and payable; or
C. Incapable to Perform. If the Town shall for any reason be renaered incapable
of fulfilling its obligations hereunder; or
D. Default of anv Provision. If the Town shall default in the due and punctual
performance of its covenants or conditions, agreements and provisions contained in the 1998 Bonds
or in this Ordinance on its part to be performed, other than those delineated in Paragraphs A and B
of this Section, and if such default shall continue for 60 days after written notice specifying such
default and requiring-the same #o be remedied shall-have been given to the Town by the Bond Insurer
so long as it is not in default of its payment obligations under the Bond Insurance Policy or, during
such default by the Bond Insurer, by the owners of not less than 25% in aggregate principal amount
of the 1998 Bonds then Outstanding.
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Section 24. Remedies. Upon the happening and continuance of any event of
default as provided in Section 23 hereof, the Bond Insurer or owner or owners of not less than 25%
in principal amount of the Outstanding Bonds, or a trustee therefor, may protect and enforce their
rights hereunder by proper legal or equitable remedy deemed most effectual including mandamus,
specific performance of any covenants, the appointment of a receiver (the consent of such
appointment being hereby granted), injunctive relief, or requiring the Town Council to act as if it
were the trustee of an express trust, or any combination of such remedies. Notwithstanding the
foregoing, so long as the Bond Insurer is not in default in its payment obligations under the Bond
Insurance Policy or the Bond Reserve Insurance Policy, the Bond Insurer shall direct the
enforcement of any remedy hereunder without the consent of the owners of the Bonds. All
proceedings shall be maintained for the benefit of the Bond Insurer so long as it is not in default in
its payment obligations under the Bond Insurance Policy or the Bond Reserve Insurance Policy, and,
during such default by the Bond Insurer, thereafter for the equal benefit of all owners. The failure
of the Bond Insurer or any owner to proceed does not relieve the Town or any person of any liability
for failure to perform any duty hereunder. The foregoing rights are in addition to any other right
available to the Bond Insurer or owners of Bonds and the exercise of any right by any owner sha11
not be deemed a waiver of any other right.
Section 25. Duties Upon Default. Upon the happening of any of the events of
default as provided in Section 23 of this Ordinance, the Town, in addition, will do and perform all
proper acts on behalf of and for the owners of the 1998 Bonds to protect and preserve the security created for the payment of the 1998 Bonds and to insure the payment of the principal of and interest
on said 1998 Bonds promptly as the same become due. Proceeds derived from the Pledged
Revenues, so long as any of the 1998 Bonds herein authorized, either as to principal or interest, are
Outstanding and unpaid, shall be paid into the Bond Fund and the Reserve Fund, pursuant to the
terms hereof and to the extent provided herein, and used for the purposes herein provided. In the
event the Town fails or refuses_to proceed as provided in this Section,.the Bond Insurer so long as
it is not in default of its payment obligations under the Bond Insurance Policy or, during such a
default by the Bond Insurer, the owner or owners of not less than 25% in aggregate principal amount
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of the 1998 Bonds then Outstanding, after demand in writing, may proceed to protect and enforce
the rights of such owners as hereinabove provided.
Section 26. Replacement of Reizistrar or Paying A ent. If the Registrar or Paying
Agent initially appointed hereunder shall resign, or if the Town shall reasonably determine that said
Registrar or Paying Agent has become incapable of perfornung its duties hereunder, the Town may,
upon notice mailed to Bond Insurer and each owner of any 1998 Bond at his address last shawn on
the registration records, appoint a successor Registrar or Paying Agent, or both. No resignation or .
dismissal of the Registrar or Paying Agent may take effect until a successor is appointed. Every
such successor Registrar or Paying Agent shall be a bank or trust company having a shareowner's
equity (e...~., capital, surplus, and undivided profits), however denominated, of not less than
$10,000,000. It shall not be required that the same institution serve as both Registrar and Paying
Agent hereunder, but, the Town shall have the right to have the same institution serve as both
Registrar and Paying Agent hereunder. The Town shall provide written notice to the Bond Insurer
of the resignation or dismissal of the Registrar or Paying Agent and the appointment of a successor.
Section 27. Maintenance of Escrow Account. The Escrow Account shall be
maintained at all times subsequent to the initial deposit of moneys therein in an amount at least
sufficient, together with the known minimum yield to be derived from the initial investment and any
temporary reinvestment of the deposits therein or any part thereof in Federal Securities (as defined
therein), to pay the Refunded Bond Requirements as the same became due.
Section 28. Use of Escrow Account. Moneys shall be withdrawn by the Escrow
Bank from the Escrow Account in sufficient amounts and at such times to permit the payment
without default of the Refunded Bond Requirements. Any moneys remaining in the Escrow Account
after provision shall have been made for the redemption in full of the Refunded Bonds shall be
applied to any lawful purpose of the Town as the Council may hereafter determine.
Section 29. Insufficiencv of Escrow Account. If for any reason the amount in the
Escrow Account shall at.any_time be insufficient for the purpose of Sections 27 and 28 hereof, the
Town shall forthwith deposit in such account such additional moneys as sha11 be necessary to pernut
the timely payment in full of the Refunded Bond Requirements.
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Section 30. Notice of Defeasance. The Town hereby authorizes and directs the
registrar for the 1991 Bonds and the 1992 Bonds to give the notice of defeasance of the Refunded
Bonds, in the name of and on behalf of the Town and the bond registrar forthwith upon issuance of
the 1998 Bonds.
Section 31. Manner of Giving Notice. The notice of defeasance shall be given by
mailing a copy of the notice by first class mail (postage prepaid) to the registered owners of the
Refunded Bonds at the addresses shown on the registration records of the registrar for the Refunded ,
Bonds.
Section 32. Form of Notice. The notice of defeasance so to be given forthwith
shall be in substantially the following form:
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(Form of Notice)
NOTICE OF PARTIAL DEFEASANCE OF
TOWN OF VAIL, COLORADO
SALES TAX REVENUE BONDS, SERIES 1991
AND PARTIAL DEFEASANCE OF
SAI;ES TAX REVENUE REFUNDING AND IMPROVEMENT BONDS
SERIES 1992B
CUSIP NOS.
NOTICE IS HEREBY GIVEN that the Town of Vail, Colorado (the "Town") has
caused to be deposited in escrow with The Bank of Cherry Creek, N.A. in Denver, Colorado
refunding bond proceeds and other funds which have been invested (except for an initial cash
balance remaining uninvested) in bills, notes, bonds and similar securities which are non-callable
direct obligations of the United States of America, to refund, pay and discharge the principal of,
interest and, if applicable, prior redemption premiums on the Town's outstanding Sales Tax Revenue
Bonds, Series 1991 and the following portions of the Town's outstanding Sales Tax Revenue
Refunding and Improvement Bonds, Series 1992B maturing or subject to mandatory redemption on
, the following dates:
Date Principal Amount
June 1, 1999 $ 40,000
June 1, 2000 940,000
June l, 2001 1,000,000
June 1, 2002 1,055,000
June 1, 2003 1,115,000
June l, 2004 1,185,000
June 1, 2005 1,245,000
(collectiN,ely, the "Refunded Bonds") as the same become due through and including prior
redemption thereof.
The 1991 Bonds maturing on and after December 1, 2002 will be redeemed on
December 1, 2001 upon payment of principal and interest and the refunded 1992 Bonds maturing
on June 1. 2005 will be redeemed on December 1, 2002 upon payment of the principal, interest and
redemption premium of 1% of the principal so redeemed.
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According to a report pertaining to such escrow of Van Schooneveld & Co., Denver,
Colorado, certified public accountants, the escrow, including the known minimum yield from such
investments and the initial cash balance remaining uninvested, is fully sufficient at the time of the
deposit and at all times subsequently, to pay the debt service requirements of the Refunded Bonds
on the respective maturity and prior redemption dates.
In accordance with the Comprehensive Energy Policy Act of 1992 (HR 776), the
paying agent is required to withhold 31 % from payments of principal to individuals who fail to
furnish valid Taxpayer ldentification Numbers. A completed form W-9 should be presented with your Refunded Bond.
The above-referenced CUSIP riumbers were assigned to this issue by Standard &
Poor's Corporation and are intended solely for bondholders' convenience. Neither the paying agent
nor the Town shall be responsible for selection or use of the CUSIP numbers, nor is any
representation made as to their correctness on the Refunded Bonds or as indicated in any redemption
notice.
DATED
TOWN OF VAIL, COLORADO
By:
Finance Director
(End of Form of Notice)
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Section 33. Seve_ rabiiitv. If any one or more sections, sentences, clauses ar parts
of this Ordinance shall for any reason be held invalid, such judgment shall not affect, impair, or
invalidate the remaining provisions of this Ordinance, but shall be confined in its operation to the
specific sections, sentences, clauses or parts of this Ordinance so held unconstitutional or invalid,
and the inapplicability and invalidity of any section, sentence, clause or part of this Ordinance in any
one or more instances shall not affect or prejudice in any way the applicability and validity of this
_ Ordinance in any other instances. . Section 34. Repealer. All bylaws, orders, resolutions and ordinances, or parts
thereof, inconsistent herewith are hereby repealed to the extent only of such inconsistency. This
repealer shall not be construed to revise any bylaw, order, resolution or ordinance, or part thereof,
heretofore repealed.
Section 35. Amendment. After any of the 1998 Bonds have been issued, this
Ordinance shall constitute a contract between the Town and the owners of the Bonds and shall be
and remain irrepealable until the Bonds and the interest thereon have been fully paid, satisfied and
discharged.
A. The Town may, without the consent of, or notice to the owners of the 1998
Bonds (but followed by notice to the Bond Insurer), adopt such ordinances supplemental hereto
(which supplemental amendments shall thereafter form a part hereof) for any one or more or all of
the following purposes:
(1) to cure any ambiguity, or to cure, correct or supplement any defect or
omission or inconsistent provision contained in this Ordinance, or to make any provisions with
respect to matters arising under this Ordinance or for any other purpose if such provisions are
necessary or desirable and do not adversely affect the interests of the owners of the 1998 Bonds or
the Bond Insurer;
(2) to subject to the lien of this Ordinance additional revenues, properties
or collateral; (3) to grant or confer upon the Registrar for the benefit of the registered
owners of the Bonds any additional rights, remedies, powers, or authority that may lawfully be
granted to or conferred upon the registered owners of the Bonds; or
-51-
(4) to qualify this Ordinance under the Trust Indenture Act of 1939.
B. Exclusive of the amendatory ordinances permitted by Paragraph A of this
Section, this Ordinance may be amended or supplemented by ordinance adopted by the Town
Council in accordance with the law, without receipt by the Town ofany additional consideration but
with the written consent of the Bond Insurer, unless the Bond Insurer is in default under the terms
of the Bond Insurance Policy or the Bond Reserve Insurance Policy, in which case this Ordinance
may be amended or supplemented with the written consent of the owners of 66% in aggregate
principal amount of the 1998 Bonds Outstanding at the time of the adoption of such amendatory or
supplemental ordinance; provided, however, that, without the written consent of the Bond Insurer
and the owners of all of the 1998 Bonds adversely affected thereby, no such Ordinance shall have
the effect of permitting:
(1) An extension of the maturity of any 1998 Bond authorized by this
Ordinance; or
(2) A reduction in the principal amount of any 1998 Bond or the rate of
interest thereon; or
(3) The creation of a lien upon or pledge of Pledged Revenues ranking
prior to the lien or pledge created by this Ordinance; or
(4) A reduction of the principal amount of 1998 Bonds required for
consent to such amendatory or supplemental ordinance; or
, (5) The establishment of priarities as between 1998 Bonds issued and
Outstanding under the provisions of this Ordinance; or
(6) The modification of or otherwise affectirig the rights of the owners of
less than all of the 1998 Bonds then Outstanding.
Copies of any waiver, modification or amendment to this Ordinance shall be
delivered to any entity then maintaining a rating on the 1998 Bonds.
Section 36. Notice to Bond.Insurer_ Anv notice required by this Ordinance or the
Escrow Agreement to be given to any party also shall be given to the Bond Insurer. Any notice
herein required to be given to the Bond Insurer sha11 be in writing and sent by registered or certified
mail to the Bond Insurer, 113 King Street, Armonk, New York 10504, Attention: Insured Portfolio
-52-
, . _
Management, or to such other address of which the Bond Insurer shall notify the Town in writing.
The Town shall provide the Bond Insuer with the following information:
(a) Budget for each year and annual audited financial statements, within
200 days after the end of its fiscal year.
(b) Official statement or similar disclosure document, if any, prepared in
connection with the issuance of Additional Bonds.
(c) All notices required to be delivered to the registered owners of the -
1998 Bonds.
Section 37. Pavments under the Policv.
A. In the event that, on the second Business Day, and again on the Business Day,
prior to any payment date on the 1998 Bonds, the Paying Agent has not received sufficient moneys
to pay all principal of and interest on the 1998 Bonds then due, the Paying Agent shall immediately
notify the Bond Insurer or its designee on the same Business Day by telephone or telegraph,
confirmed in writing by registered or certified mail, of the amount of the deficiency. •
B. If the deficiency is made up in whole or in part prior to or on the payment
date, the Paying Agent shall so notify the Bond Insurer or its designee.
C. In addition, if the Paying Agent has notice that any registered owner has been
required to disgorge payments of principal or interest on the 1998 Bonds to a trustee in bankruptcy
or creditors or others pursuant to a final judgment by a court of competent jurisdiction that such
payment constitutes an avoidable preference to such registered owner within the meaning of any
applicable bankniptcy laws, then the Paying Agent shall notify the Bond Insurer or its designee of
such fact by telephone or telegraph, confirmed in writing by registered or certified mail.
D. The Paying Agent is hereby irrevocably designated, appointed, directed and
authorized to act as attorney-in-fact for registered owners of the 1998 Bonds as follows:
1. If and to the extent there is a deficiency in amounts required to pay
interest on the 1998 Bonds,. the Paying Agent shall.(a) execute and deliver to the Insurance Paying
Agent, in form satisfactory to the Insurance Paying Agent, an instrument appointing the Bond
Insurer as agent for such registered owners in any legal proceeding related to the payment of such
interest and an assignment to the Bond Insurer of the claims for interest to which such deficiency
-53-
relates and which are paid by the Bond Insurer, (b) receive as designee of the respective registered
owners (and not as Paying Agent) in accordance with the tenor of the Policy payment from the
Insurance Paying Agent with respect to the claims for interest so assigned, and (c) disburse the same
to such respective registered owners; and
2. If and to the extent of a deficiency in amounts required to pay principal
of the 1998 Bonds, the Paying Agent shall (a) execute and deliver to the Insurance Paying Agent in
form satisfactory to the Insurance Paying Agent an instrument appointing the Bond Insurer as agent ,
for such registered owner in any legal proceeding relating to the payment of such principal and an
assignment to the Bond Insurer of any of the 1998 Bonds surrendered to the Insurance Paying Agent
of so much of the principal amount thereof as has not previously been paid or for which moneys are
not held by the Paying Agent and available for such payment (but such assignment sha11 be delivered
only if payment from the Insurance Paying Agent is received), (b) receive as designee of the
respective registered owners (and not as Paying Agent) in accordance with the tenor of the Policy
payment therefor from the Insurance Paying Agent, and (c) disburse the same to such registered
owners.
E. Payments with respect to claims for interest on and principal of 1998 Bonds
disbursed by the Paying Agent from proceeds of the Bond Insurance Policy shall not be considered
to discharge the obligation of the Town with respect to such 1998 Bonds, and the Bond Insurer sha11
become the owner of such unpaid 1998 Bonds and claims for the interest in accordance with the
tenor of the assignment made to it under the provisions of this subsection or otherwise.
F. Irrespective of whether any such assignment is executed and delivered, the
Town and the Paying Agent hereby agree for the benefit of Bond Insurer that,
1. to the extent the Bond Insurer makes payments, directly or indirectly
(as by paying through the Paying Agent), on account of principal of or interest on the 1998 Bonds,
the Bond Insurer will be subrogated to the rights of such registered owners to receive the amount of
such principal and interest from.the Z'own, with interest thereon as provided and solely from the
sources stated in this Ordinance and the 1998 Bonds; and
2. they will accordingly pay to the Bond Insurer the amount of such
principal and interest (including principal and interest recovered under subparagraph (ii) of the first
-54-
1 ~
l.
paragraph of the Bond Insurance Policy, which principal and interest shall be deemed past due and
not to have been paid), with interest thereon as provided in this Ordinance and the 1998 Bonds, but
only from the sources and in the manner provided herein for the payment of principal of and interest
on the 1998 Bonds to registered owners, and will otherwise treat the Bond Insurer as the owner of
such rights to the amount of such principal and interest.
Section 38. Ordinance Irrepealable. After any of the 1998 Bonds herein authorized .
are issued, this Ordinance shall constitute a contract between the Town and the owners of the 1998 _
Bonds, and sha11 be and remain irrepealable until the 1998 Bonds and interest thereon shall be fully
paid, cancelled and discharged as herein provided.
Section 39. Dis osition of Ordinance. This Ordinance, as adopted by the Council,
shall be numbered and recorded by the Town Clerk in the official records of the Town. The adoption
and publication shall be authenticated by the signatures of the Mayor, or Mayor Pro Tem, and Town
Clerk, and by the certificate of publication.
Section 40. Effective Date. This ordinance shall be in full force and effect five
days after publication following final passage.
INTRODUCED, READ AND APPROVED on first reading by a vote of 5 to 1 this
18th day of August, 1998 and ordered published in full together with notice of hearing in the Vail
Trail, a newspaper of general circulation in the Town of Vail; and further order that a Public Hearing
on the Ordinance and consideration on final passage be set for Tuesday, September 1, 1998, at 7:00
p.m. at the Town Hall.
-55-
INTRODUCED, READ, APPROVED, AS AMENDED, AND ORDERED
PUBLISHED in full in the Vail Trail, a newspaper of general circulation in the Town of Vail on
second and final reading by a vote of to , this 1 st day of September, 1998.
Mayor Town of Vail, Colorado
Attest: (SEAL)
Town Clerk
Town of Vail, Colorado
-56-
!
EXHIBIT I
Permitted Investments
-57-
STATE OF COLORADO )
~
COLJNTY OF EAGLE ) SS.
)
TOWN OF VAIL )
. I, the Town Clerk of the Town of Vail, Colorado, do hereby certify
1. That the foregoing pages are a true, perfect and complete copy of the
Ordinance adopted by the Town Council constituting the governing board of the Town of Vail (the
"Council"), had and taken at an open, regular meeting of the Council held at the Town Hall, in Vail,
Colorado, on September 1, 1998, convening at the hour of _ p.m. as recorded in the regular book
of official records of the proceedings of said Town of Vail kept in my office.
2. That the Ordinance was read by title, duly moved and seconded and the
Ordinance was approved on first reading by a vote of to of the members of the Council at the
regular meeting of the Council held at the Town Hall, in Vail, Colorado, on August 18, 1998,
convening at the hour of _ p.m., as follows:
Those Voting Yes:
Those Voting No:
Those Absta.ining:
-58-
3. That the ordinance, as well as the notice of public hearing was published after
first reading in , a newspaper of general circulation within the Town
on August 1998. The affidavit of publication is attached hereto as Exhibit A.
4. That following said public hearing, the passage of the Ordinance on second
reading was duly moved and seconded, and the Ordinance was finally adopted at the meeting of
September 1, 1998, by an affirmative vote of a majority of the members of the Council as follows:
Those Voting Yes:
Those Voting No:
Those Abstaining:
5. The members of the Council were present at each of the meetings and voted
on the passage of such Ordinance as set forth above.
6. There are no bylaws, rules or regulations of the Council which might prohibit
the adoption of said Ordinance.
7. The Ordinance was published in full in , a
newspaper of general circulation in the Town, on September 1998, and the affidavit of
publication is attached hereto as Exhibit B.
8. Notice of the meetings of August 18, 1998 and September 1, 1998, in the
forms attached hereto as Exiibit C was posted at the Town Hall, not less than 24 hours prior to each
meeting in accordance with law.
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WITNESS my hand and the seal of said Town affixed this , 1998.
Town Clerk
(SEAL)
-60-
~ et r
EXHIBIT A
AFFIDAVIT OF PUBLICATION
(published August _,.1998)
EXHIBIT B
AFFIDAVIT OF PUBLICATION
(published September 1998)
B-1
EXHIBIT C
Notice of the Meetings
of August 18, 1998 and September 1, 1998
C-1
DOCUMENT LOCATER PAGE
F:\ANNEW\BONDORDS.WPD
8/28/98 12:26 pm
In order to locate this document quickly, Please keep this page with the attached document.
Thank You
C-2
~
SIV60 000
Town of W Colorado
Tax-Ezempt Sales Taz Revenut Refnnding Bonds
Series 1998A
573~000
Town o! V I, Colorado
Tuzable Sateo Taz Revenae RefundinQ Boads
Series 1998B
BOND PURCHASE AGREEMENT
Town Coimcil
Town of Vail, Colorado
Ladies and Cerrtlemen:
1. Bigelow & CompanY (the "iJadecwriter'~ hereby offers to cater mto this Bond
Purchese Agreemcnt (this "Agreemcnt') with the Town of Vail, Eagle Covnty, Colarado (the
"Town'l. This offer is macie subject ta the Town's execution of this Agrecment and dolivery of
it to the Underwritcr on the llate oc this Agreemeni. Upon the Town's acceg23nce of thia nffr,r,
this Ageemeut shall bc binding upon the Underwriler anel the Town, sabject to the fnrther
provisions hereof. Capitatizcd terms not othawisc dcfiaed hcrciu s]iali have the meanings set
forth for such terms in patagrdph 11 below.
2• Subject to the furthcr provisioas hercot the Underv?mter agrees to purcbase from
the Town, and the Town agees to sell and deiiver ta the Uaderwriter, all of the Town of Vail,
Eagle County, Colarado, Tax-Exempt Salea Tax Revenue Refunding Bonds, Series 1998 A azd
Taxable Salcs Tax Ravenue Rcfunding Bonds, Series 1998 B(together the "Bonds"), at the
Pw'chase Pricc. The Bonds wili maritrG bcar interest and be sold at the priees irdicated in
Exhibi! A hercto.
3. Thc Town shaU delivcr the duly issued and executed Bonds to The Depository
Tiust Carnpany in New Yark, New York, priar to, anci the Undcawriter ahsfl deliver the Purchaso
Price minus the Costs of Issuance Withheld to the Town in federal funds by, 9:00 a.m., Ihttver
Timc, on the Closing Datc, or at such olher glaec and time as shall be mutually agreed upon by
the Town and the Underwritcr. (Such deliverics aze rcfetred (o as the "Closing.") The
documents to suppott the Closuig will be heid and may be examined at the offices of Shermaa &
Howard L.L.C. in Denvcr, Colorado al the samc time an the Closiag Date.
4. The Tuwn ahall cooperate with, aad shall take a!I actions rcasonably requested by,
the Uadenvrilcr to I'acilitate the Undervvritcr's oifer uAd aale of the eonds to third parties,
including but nat limitcd to (i) the pteparation vf the Preliminary Official Stalement rclating to
the Bonds dated August 19, 1998, aud any SuppYements or amencmtnts theretp that the
Underwriter raasonabiy determines arc necassary (the "Prcli:ninary Official Statement') and the
final Official Statcment rclaiing to the Boncis to be datcd within scven busincas days of the Date
of this Agreeme,at and ;uiy supplemeuts or azmendmcnts thercto that the Undetwritar reasonably
detertnines are necessary (the "Official Ststanent') and (ii) all actions nccessary under the
oz-rz~sn.oa I
r
stcutities or "bluc sky" laws of the jurisdic;tiuns bVecified by the Undeiwtiter to onablo it to osOr-
. and scil the Bonds in or to residents of such jurisdictions. In order to facilitate complimico with
Rule 1 Se2-12 of the United Statod Securities aud Exchange Comrnission under the Securities
Exchangc Act of 1934 (`Rule 15c2-12"}, the Town (A) has ccrtifrad, and heroby affirrrLq its
certiCcation, that the Preliminary Official Stalement is "tinal" as af it4 date as teqnired by Rule
l5c2-12, (B) hercby authoiizes and rutifies the distabution of the Preliminary Offidal Statemcnt
to anY PotenUal cuatomers (as defined in Rule 15c2-12) miW the Official Statement ia availabie,
(G) heroby agrccs to tnake availabie to the Undcrwritcr, within sevai business dgys of the Date.
of this Agreemeat, es many c;ap;es oi'the Oflieial Statcmcnt as the Undervvriter deerns sufficient
for pwposes of complying with Rule 15c2-12, (D) hcreby authorizes and approves the
disQibution and use of the Officiat Statement in connection with the offeriag and sale of the
Bonds and (B) hereby agrees lo enlr.r inW a wrilten agr~,rcmont or contraet oa or bcfora the dabe of
delivery of the Donds, constituting an undcrtalcing (thc "Caatiapiag Disclostuc Undcrtaking') to
pnovide ongoing disclosure about the Town, for the beneRt of the awaera af the 13onds as
reqnired by Rule 15c2-12, which Undertaldng shaU be in the fvrm attached as Appeadiz A to the
Preliminary Official StatemenL '
5. The Town's obligation to issuc the HoRds is subject to its receipt at Closing of the
unqualified apptnving ppinion on the Bonds of Shcrman & HowaYd L.L.C., Boncl Counsei.
6. The Undcrwritet's obligation to pumhase the Bonds sha11 be subject to the
, Undcruvriter's rcecipt at Closing of each of the fottowing in form and substanee satisfoetory to
the Underwriter:
(a) Certified capies of the ordiname or ordinazices authozi~ing the issuauce of
the Bonds;
(b) A mimicipal bond insurance policy, insuring gayment of the principal of
and intcrest on the Bonds;
(c) An executai copy of the Letter of Representarions bctwecn the Town and
The Depository Trust Campany;
(d) An executed copy of the Continuing Disciosure Undertakmg;
(e) The unqnalified appreving opiaion of Shcrman & Howard, L.L.C., Hond
Counsel;
(n A letter fttim Kutak Rock as to their paiticipation in the preparation o&
and as to the material set forth in, the Ofricial Statement;
(g) The ccrtitication or opirrion of the Town Attorncy, (i) relating to the due rn'ganization and existence of the Toa+n, the due aaihorizstion, executivn atd delivery by
the Tuwn uf the Otdeu3ncc and this AWttuew, aad a statement to tho effea that nothmg
haa comc to his attcntion which causes hirn to befieve thet the infvrmption contained in
the Otficial Staicmcai, but exclnding fmaticial informatien containrxi themin, does nat
contain any untme statement vf a material fact nr omits tci State a material fact necenary
to makc the statemeuts therein, in light of the ciroumstfmces under which they wcre
o2.?:is-r.o3 2
~
ntade, not misleading; and (u) stating thbt, to the best of his actual knowJcdge, ihcre ia no
aotion, suit or proceeding now pending or threatened against the 7'own that will
rnatcrially sud advarscly affect tho financial eondition or opcrations of the Town, or the
Town's povver to issue aud deliver the Bvnds, or ta impose and cotlect the Sales Tu, or
to execute and nerform the obligaticros of the Town in the Ordinance ar the Eserow Agreement.
' Certiticates of the Town as to {i} the facts necessary to support the
ccrtificatione and opiaions rcfcmcd to in clauscs (c), (Q and (g) above, (ii) tho accnracy of "
the Prcliminary OlTiciai Statsmmt and the pfI'iciat 3tatement, (iii) Iitigation atPecting the
Town and (iv) such othcr mattcrs as arc customacy wiW respcct to the issaancc of
obligatians sach as the Bonda or as the Undctwiiter may rcasonably rcquest;
(i) Evidence that the Bonds have been rated "AAA" by Standani & Poor's
Ratings Services, a Division vf The McGtxw-Hill Companies, Inc,; and
(j) Such add.idonat agreements, documents, instruments, opinions and
cciificates as the Underwriter may reawnably reqetesL
7. The Underwriter's obligation to purchase the Bonds also sha116e subject to the
; Underwritcr's right, in its absolute discretion, to elect to terminate this A,greeme,nt by written
norice to the Tnwm i f nt any time after the Date of this Agreement and prior tn the Clesing:
(a) Any everrt shall havc occuncd, or inforntation becames known, which, ht
the Underwritet's opinion, makes untrue, in any malerial respect, any statement or
infvciuation eontaincd in the Official Sta#ement or the Prclirnindry Official Statement
(except as modifiai by the Officisl Stxte.rnent), or has the effcet that the Offitciat
Statanent or the Pre]iminary Official Statement (exeept as modified by the Official
Statemeat) cornains arry untrae statement of a matcrial fact or ornits to state any material
fact neccssary in vrdct to makc the statcmc,crts made thorein, in tight of the circumstaucea
under which they were made, not ausleading;
{b} Additional matcriaI restrictions not in fome as of the date hereof shall have
bear impoaed upon trading in securities generally by any govcrnmeatat authority or by
- any national securiries exchange;
(c) Thc United States shall fiavo become enpgexi in hoslilitirm, whetther ur not
a w+at shall hxvc bccn dcclarai, or thcre shail h:ivc occurrcii nn escalation of auy
hostiTiEies invoiving tho anncd forces of any country, or any other national cmcrgcncy or
other ru?tronal calamity relaling to the effective operatian of gnvernmer,t ar oF the
fm.wcial commttniry shall have occurred, which, in the Underwriter's opinion, materialty
adyene1Y affccts the marlcct price of the Bouda;
(d) There sha11 havs occuired a general suspension or materiaJ timitatinn of
trading on Thc Ncw York Stock Exchangc or any othcr national securitics pcchange ay
the result of an evcnt atTecting the national oconomy, or minimusn or maximum prices fvr
trading shall have been established on any exchaage and be in forcc, or maximum rsnges
for ptices for securitics shall be in forze on aay such eachange;
m-1n97_o3 3
r
Thc Ncw York Stock Exchangc, any other national seciuitics exchaagc or
A"Y $avcrnmental suthority shall ia: ex
character of the Bon tO ~e Boncls or obligahons of the gtaccal
ds, uny matcriaJ reeWctions nvt now in force or being enfotced, or
iacrease materially thosc now in force or being enfareod, with respect to the extensivn of
credn by, or charges to the net capitai requirement oF or {naucial responai-bility
requiremonts of, the Undcrwrita;
A general banking moratorium shatl have bcem establiahed _ by fcdecal,
. Ncw York oz (;olorado authoritics; , .
(S) Any rating of any obligazions of the Tuwn shall ha,ve been downgradai or
withdtawn by any rating scrvice, which, in the Undcrwriter's opinion, malersally
adversoly affeCts the market price of the Bvnds;
(h) Legislation is adopted by either housa of the United Statcs Congt+css, or
favorabty reported !'or paw$gc to either house of the tlnited States Co
committee of wch house to which such legistation has been nf~ ~r~~d~o~
legislation is actively oonsidcred for enactqsent by the United States Con
13 ~ev*nmended co the United Stales Congress for passage by the United
States, a docision try a coart of the United States or the United Stales T'ax Court is
rendered, O1' a 'ulin8, mgulation or of!'icial statcmcnt by or on behatf af the Treasury
Departmrnt of the Umted States, the Internal Rcvpiue Serviec or other govt$rnmental
agcncy is macie, with respeat to federal taxatian upon rcvenues or othct income of the
Town or urpon interest p;iyablc an obligatioQa of the gencral chaacter of the Bonds or
which wootd change dQectty pr indirecuy the fedcral income tax eonsequences of interCSt
oa obligations of the gmeral character of the Bonds in the hands of the awners themf,
which, in the Underwriter's opinion, materta]ly advcrsely xffects the market price of the
Bonds; or
(i) Any change shall h-ave vccuaed which, in the ressonable judg,mcnt of the
Undervvriter, makes mueasonable or umeliabla any Q fthe rmancin
which paymart of debt service on the Boncis is predicatcd, gaumptions Upon
8• Thc Town shaU p$y or c~e to be p~~, from the proceods frrnn the sale of the
Bonds or othcr funds availabte to it, the expoom incidau to the issuanee and sale of the Bonds
(the "Costs of Issuance'), inch,ding but not limitod tv the Undervvriter's Discount and the
expeuses of the Undetwritcr, the fecs and disbutsements of Shernian 8c HovdRocic, and ~y other attorneYs, accountants or other cxperts or cansultauts r' L.L.C., Kuh1c
with the issuance and sale oF tho Bonds, fees and ehar oWned in earmection
uther agent relained in eonaection with the 8es of any paYmB ~~n~ escrow agc~t or
the Bond9, fces ta rogistcr the Bonds with The D At o1; ar liie administmbivu of the jayment of,
fces, clcaring and delivcry fees, the costs of risg it aad distributing e~pnl ~ ew York, CLlS.~
Statemer?t and the Offcial Statemettt, and any costs incurred in connxtlon with the r~~ t e~
Bonds, including but not Iimittd to ratin 8 s g c n cY f e e s a n d
e d in c~mmttnicating
wi t h or making PreseAt~tiions to rating agencies. !n order to facxpensm ci itate the c u m paymcnt
Tssuanc~ the Undcrvvriter will withhald the Costs of Tssuance WilhheId fr+~m ~~d ~e CO~ of
Town pursusr~t to pazagraph 2 above, apn}y ~e C~~ oFissuauce Withheld to the pFa~~t to the
yment of the
01-12197.03 4
Custs of lssuance and return ;iny amount In exc.ass vf the actuat Costs af tssuance to the Town no
latcr than 60 days following the Clositig Daia, Jn the evcnt this A
Bonds being issued, the 7'vwn ~,ill bc oblitcxi to ~~~t terminate~ w~thoat
oFtho Prclirainary anct final Official S~onts. ~Y ~ly the ezp~scs of ptiuting a~ti mat~ing
-9. Thia Agrcemcnt may be axvcuted in scvetal count arts which te
wnstitute onc and the samc instrumettt, Photostatic copies of executad coun ~a ahall
copias of exccuted cvuntctparts h~f ft,~~~~ terpacts hcrcof vr
of the sauie effect as originally signed cou~~p~~ a~le t~nsmission shall be binding ~d
10. This AgreemeM Sha1I be BoYCmod by ~e lawS of the Stato of Colorado.
11. Far purposes of this Agrcement, the following teany have the meaningR cpecified:
Date of this Agreement:. August 26, 1998
Closing Date: October 6, 1998
TAx-Exempt Bonds Taxsble Bonde
ASBrebaie Principal Amount $8,760,000.00 $735,000.00
Accrued interest 37588 78
Original Issue Discaunl 4,305.73
Underwritcr's Discount 22'04515 O.~p
rurchase Arnount 74,460.00 6,247.50
(A8gre8ate Principal Rmatart,
PIut; Accrued Intcrest, Minus 8,701,083.53 733,058.23
Originallssue Digcount,
Minus Undcrwriter's
D[scount) .
Cosf.s of Issuance yrithheld1 136,564.75
11,622.50
1Inclndcs inairemc pnmium. As provided in h 7 abov an o~~
of such amount in cacccss of the actua! Costs of~ e shall be returned to
the Tovm ne later thm 60 days following the Closing llatc.
02•12197.Oq
5
s
BIGELOW & CplyjpANy
B4iAo M
e d Qfficer
r
ACCEPMp; .
[TOWN SEAL) TOWN OF VAII,
EAGi,E CpUNj-y, COLORADO
BY
. Authorizod Officer or Agent
m-i z197.os 6
a:Hnv
~
$8,760,000
TOWN OF VAIL; COLORADO
TAX-EXEMPT SALES TAX REVENUE BONDS
MBIA INSURED - BANK QUALIFIED
MOODY'S Not Requested DATED 09/01/98 DELIVER 10/06/98
S& P AAA 1 ST COUPON 12101 /98 DTC
CALL FEATURES:
BONDS DUE DECEMBER 1,2008 & PRIOR ARE NON CALLABLE
BONDS DUE DECEMBER 1,2009 & AFTEIZ p.RE CAL,LqgLE DECEMBER 1, 2008 @ PAR
FIlVAL
YEAR PAR
22/01 VALUE COUPON yIEM $ pRICE
2007 985,000 4.250% 4.300% 99.620
2008 1,425,000 4.3000/o 4.350% 99.588
2009 1,485,000 4.4000/o 4.4000/o 100.000
2010 1,550,000 4.4500/o 4.450% 100.000
5,445,000
2012 3,315,000 4.500% 4.536% 99.625
SDffCING FI1ND REDEMPTIONS :
' 12 Term Bonds
2011 1,625,000
2012 1,690,000
Average Life of Term Bonds 13.76 Years
...r.. l
a.•rrnv
~
. 5735,000
. TOWN OF VAIL, COLORADO
TAXABLE SALES TAX REVEIVUE B0NDS
MBIA INSURED
MOODY'S Not Requested DATED 09/01/98 DELIVER - 10106198 -
S& P AAA 1 ST COUPON 12/01 /98 DTC
CALL FEATIJRES:
ALL BONDS ARE NON CALLABLE
FINAL
YEAR PAR
12I01 VALUE COUPON YIELD $ PRICE
2006 360,000 6.000% 6.000% 100.000
2007 375,000 6.054% 6.050% 100.000
735,000
.LJ
Blanket Issuer Letter of Representations
(To be Compieted by Issuerj
[Ivvme of [ssuery
(Datc;
Attention: Undenvriting Department - Eligibilit~°
The Depository Trust Companiy
55 Water Street; 50th Floor New York. i~'Y 10041-0099 :
Ladies aad Gendemen:
This letter sets forth our understanding ~vith respect to all issues (the "Securities") that Issuer
shall request bc made eligible for deposit.by The Depository Trust Cornpany ("DTC"). To induce DTC to accept the Secunities as eli,,pible £or deposit at DTC, ana to act in accordance
with DTC's Rules with respect to the Secwities, Issuer represents to I77'C that Issuer will comply
with the requirements stated in DTC's Operatinnal Arrangements, as they may be amencied from
time to timc.
Note: Very truly yvurs,
Schedule A contains statements that DTC believes
accuuately describe DT'C, dir method of cgecti" book-
entry tr.uufers of securibcs disiributed through DTa and
ce:t~n reUoed maeters. (fuuer)
B}''
(Auttwriz,ed Oti'un s 5ignatiui)
. Received and Accepted:
(TrPew:itr !~uac tY Tdk)
THE DEPOSITORY TRUSI' COMPANY
csrred Aad=i
By:
(Gh•) l5tatel (Tp)
(Phone Kumber)
batc:
Thc Depository Tnut Company
Underwriting bcpartmcnt - Eligibility
SS Watu Street - 19' Fioor
Ncw York, NY 14041-0099
ftE: Principal and Incomc Payment Guidclincs
l.adies and Gentlemen:
This letta sets forth our aQreement to comply with the requirements necessary for eligibiliry, with respeu to all cectified iswts' (thc
"Securities") that the issucz shall request be made eligible for deposit by The Depository Trust Company ("DTC'I.
As a condit;on to accept the Securitics as elioible for deposit at DTC, and to act in accordance with DTC's Rules, the issuer represents
to DTC that wieh rapect w Prineipal and Tncome (P&I) Payments, the issuer will comply with ihe Y&I Guidelines stated in DTC's
Operatioaai Azranocmcnt, as amcnded from time to time.
The Principa2 and Income Guidelines are summariud as follows:
Commencing January 1, 1998, for a new issue of securitics to bc made depository eligible, DTC must receive prior to the
distribution date of an issuc, written assurance from the usuer that the issue is sdvctured with the provisioa that issuers are
required to rcrnit by 1:00 p.m. F-T on payable daee funds for all principal and income payments due paying agesits or
intermediarics, or at such earlicr time as required by the Payino agent to guarantee ihat DTC will receivc paymcnt in same-
day funds by 2:30 p.m. ET on payable date.
In addition, automated payment details receipt is required by noon of payable date for income paymrnts and 2:30 p.m. ET
for rcdernption and corporate actioa payments.
Very auly yours,
(Issuer)
aY
(Authorized Officer's Signatiue)
(Typewrite Name and Title)
(Sweet Addrtss)
(Ciry) (Statc) (ZiP)
(Telcphone Number) .
Receivcd and Acccpted
The M-pository Trust Company
By:
GOVERNMENT FINANCIAL ADVISC)RS, INC.
INDEPE_N1~ENT F1~',~?t'E~I~L A.D6'ISORS 1"0 LO(AL, CTOL'ERNMENTS
August 28,1998
Robert W. McLaurin Steve Thompsvn
Town Manager Finance Director
Town of Vail Town of Vail
75 South Frontage Road 75 South Frontage Road
Vail, CO 81657 Vail, CO 81657
RE: Town of Vail, Colorado - Sales Tax Revenue Refixnding Bonds, Series
1998A&B
Dear Bob and Steve,
Attached to this letter are the results of the pricing of the Town's Sales Tax
Revenue Refunding Bonds that occurred on Wednesday, August 26,1998.
The chart compares the Town's interest rates with Municipal Market Data
(MMD) yield curve for August 26,1998. As shown by the chart, the rates that the
Town received in the market are substantially lower than the MMD index.
The table indicates the final restructured debt service. The total new debt service
is approximately $110,000 lower than what was reported to the Town Council on
August 17,199$. Also, the present value of difference is now a positive $9,574,
which is approximately $32,800 better than the -$23,208 present value difference
that was previously reported.
It is our recommendation that Town Council accept the interest rates that are
contained in the Bond Ordinance and reflected in these enclosures.
Regards,
CPeter Zent
/pwz
Attachments
P.O. BOX 6403 • VAIL s CO • 81658 • TELEPHONE • 970 ! 926-1647
INTERNET • http:lfwww.gfa.com • E MAIL . pzent@vail.net
Town of Vail - Sales Tax Revenue Refunding Bonds, Series 1998
Interest Rate Comparisons
~
4.75%
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Town of Vail
Sales Tax Revenue Refunding Bonds
Final Pricing of Level Debt Service
Existing New
Date Debt Service Debt Service Difference
1998 1,154,495 909,376 245,119
1999 2,540,553 2,322,248 218,305
2000 3,414,468 2,318,873 1,095,595
2001 3,417,926 2,317,921 1,100;005
2002 3,416,503 2,322,243 1,094,260
2003 3,414,448 2,321,553 1,092,895
2004 3,415,358 2,319,653 1,095,705
2005 3,A9~,188 2,319,203 1,078,985
2006 1,756,888 2,319,678 (562,790)
2007 785,056 2,321,321 (1,536,265)
2008 784,659 2,322,424 (1,537,765)
2009 782,234 2,320,424 (1,538,190)
2410 787,475 2,322,675 (1,535,200)
2011 789,903 2,324,453 (1,534,550)
2012 554,500 2,320,550 (1,766,050)
30,412,654 33,40Z595 (2,989,941)
1998 to 2005 Cash Flow $ 7,020,869
Present Value: $ 9,574
Prepared by:
Peter Zent
Government Financiai Adq9sors
Vail, Colorado Date: 8J28/98
4IL
TOWN O•~ ~
Office of the Town Manager •
75 South Frontage Road
Yail, Colorado 81657
. . . . , .
970-479-2105/Fax 970-479-2157 _
TM
MEMORANDUM
TO: Vail Town Council
FROM: Robert W. McLaurin, Town Manager
DATE: August 28, 1998
SUBJECT: Town Manager's Report
Main Vail Free Right
As we have discussed, we are proceeding to construct the free right turn (button hook) at the main
Vail interchange. The project has been designed, a price with B&B Construction has been negotiated
and approval of the Colorado Department of Transportation is pending. We are currently working
with the Federal Highway Administration (FHWA) to receive final approval prior to constructing
this improvement. We anticipate their approval hopefully within the next four weeks. The
construction should begin once approval is obtained.
Data Processing Position
Pursuant to prior discussions with Town Council, I am making an offer to a qualified applicant for
the computer tech position. This will require a supplemental appropriation in 1998 of approximately
$15,000. First reading of the supplemental appropriation ordinance will be September 15, 1998.
Check Point Charlie Project
The Check Point Charlie paver reconstruction project is scheduled to begin September 21st and
should take approximately four weeks to be completed.
Village OverlaX
The village overlay project will begin approximately on September 21st and will take approximately
14 days to complete. This project will conclude our 1998 susnmer construction season (thank god).
SECYCLED PAPBR
~ •
Upcoming Town Council Meetings
9/8/98 WS
DRB review
Discuss model traffic code
Park Free After 3:00 Discussion
2nd quarter financial report
9/15/98 WS
Joint TC/VRD work session
PEC Review
9/15/98 TC
1 st read Ord. supplemental
Rails & Trails in the Eagle and Vail Valley
Common Ground presentation re: alternative housing suggestions
RWM/aw
attachment
Petition to the Vail Town Council
We, the undersigned, object to the Town of Vail busses on Chamoniz Lane throegh
the Chamoniz Chalets.
The busses increase the amount of traffic ia an already very busy street. The
intersection of Chamoniz Lane and Arosa Drive are high traffic areas. The busses
also add a lot of noise. Considering the very few people usiag this new bus stop, we hope that the busses
will go back on the North Frontage Road and up Chamoniz Road as they use to.
Signature Name Address Phone
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Petition to the Vail Town Council
We, the undersigned, object to the Town of Vail busses on Chamoniz Lane through
the Chamoniz Chalets.
The busses increase the amount of traffic in an already very busy street. The
intersection of Chamoniz Lane and Arosa Drive are high traffic areas. The busses
also add a lot of noise. _
Considering the very few people using this new bas stop, we hope that the busses
will go back on the North Frontage Road and up Chamoniz Road as they use to.
Signature Name Address Phone
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Petition to the Vail Town Council -
. We, the uadersigned, object to the Town of Vail busses on Chamoniz Lane through
the Chamoniz Chalets.
The busses increase the amount of traffic in an already very busy street. The
, intersection of Chamoniz Lane and Arosa Drive are high traffic areas. The busses
also add a lot of noise. -
Considering the very few people using this new bus stop, we hope that the busses
will go back on the North Frontage Road and up Chamoniz Road as they use to.
Signature Name Address Phone
y
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,
Petition to the Vail Tow-n Council
We, the nndersigned, object to the Town of Vail busses on Chamonix Lane thrnugh
the Chamonix Chalets.
The busses increase the amoant of traffic in an already very busy street. The
intersection of Chamonix Lane and Arosa Drive are hig6 traffic areas. The busses
also add a lot of noise.
Considering the very few people nsing this new bus stop, we hope that the busses .
will go 6ack on the North Frontage Road and up Chamonix Road as they use to.
Signature Name Address Phone q70-4-76- U 64
c.IZ ~
17q--D ~4 (
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,
,
Petition to the Vail Town Council
. We, the nndersigned, object to the Town of Vail bnsses on Chamoniz Lane thrnn,gh
the Chamoniz Cbatets.
The bnsses increase the amonnt of traffic in an almdy very bnsy street. The
intersection of Chamoniz Lane and Arosa Drive are high traffic areas. The busses
also add a lot of noise. -
Considering the very few people nsing this new bus stop, we hope that the busses .
will go back oa the North Frontage Road and ap Chamoniz Road as they use to.
Signatvre Name Address Phone
O
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08/26/98 WED 00:18 FAX 9709499227 SHAMROCK 444 Town Council Mem R001
i
NOTES FROM AUGUST 12' MEE'I ING
CONSTRUCTXON UPDATE:
Seibert Cirle is a week behind. C?n Aueu.St 25th the are sunnose to Pour the
concrete. It will be able to be used for International Fest. The pa.rty date has been
cha.nged once auea.in.
Employee Generation: This is a new proposal in the beginning stages and
has a lnng wav hPfc?rP it hPr_.omes ?n nTdinanr_P hut kPPn vozr PvPS onen_ Tt
basically states that with any new construction, including improvements,
businesses will have to put maney intp pmployee housing.
LISTENING LINE: Aspens Chamber of Commerce has set up a customer
cervice vnice mail -,vcte.m-"ThP T.istenint T.ine" tn deal xvith r_ijctnmer
' suggesrions, compliments and complonts. The WMA thinks we should pursue
looldng inro a program like this in Vail.
1999 UPDATE: Sue MacCorm4k from the Vail Valtey Foundation came
and snoke about how the Founciation vvpint locals to eet more excited about the
Championships. As Merchants we shouid put out a positive attitude and get your
emnlrnees to feel connected to the.te Chamnionshins_ Thev are also laakine for
volunteers. The Foundation is now putting a Merchant Newsletter out to keep us
infnrmed-
WMA GOALS: The 1997 goals were gone through to see how tfie
WMA did in ac.cmminlishine them. We will corrtinue thic disc-mssion at the next
meeting.
~ INTERNATIONAL FEST: WiII take place on Saturday, August 29`h.
This yeaz it will be an Irish theme. There will be River llancing at Chair one at
, . 2:00and 5:30_ The tickets will be $2(1.0(1 reservec_i 'S1 Q_Q(_? ocen seahnL- ancl $5.00
students_ Tickets are available at Poor Richards, the Visitor Centers and also
thrnnah merr_.hanta. FAch merr_.hant ic rmLe'sted tn mlre.hacP 12brketc fnr
$100.00. To acquire tickets ask one af the board members ar call Wendy Buick
@ 328-2287. Also Merchants are asked to have someone in their organiza.tion to
u_ive four hnur to the event_ if this is not nossihle a.$75.00 dnnation tn the event is
requested. Please help out in whatever way you can to this event. It should be a
. lot of fim and brutg many People into the Village.
R
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Office of the Town Manager
75 Sou1h Frontage Road
Yail, Colorado 81657 . . , ,970-479-2105/Fax 970-479-2157
MEMORANDUM T""
TO: Vail Town Council
~,Spsistant FROM: f Pamela A. Brandmey Town Manager
DATE: July 23, 1998
RE: Proposed VRD Questions for Discussion
In order to accommodate current agenda items for the Town Council, we are hoping to reschedule
the VRD joint discussion with Town Council to the September 15th work session. What follows
are questions staff has proposed for that discussion:
1. Share with the Town VRD's long-term strategic plan and capital improvements plan.
2. What does VRD perceive to be their role in the community facilities planning process?
3. Where do we move in the future regarding the skate board park?
4. Discussion of increased scheduling of athletic events in Ford Park.
5. Are there potential uses of RETT funds for VRD related projects (e.g., Tom Gaylord at the
Nature Center may have a proposal for increased paths in and around the Nature Center area
of the park).
6. Should we begin renegotiation of the golf course lease?
7. In regard to redevelopment of the golf course clubhouse, is this an appropriate site for
gymnastics?
8. Please advise Council regarding the expansion of the locker rooms and other related facilities
at the Dobson Ice Arena.
9. Should VRD, as the recreation and youth-related activities director, take more of a lead role
in supplying youth events and entertainment during the 4th of July holiday and New Year's
Eve?
L~ RECYCLEDPAPER
Please consider the above items and feel free to add to, delete or modify in whatever way these
questions. Again, there had been a request from the VRD to put an agenda together reflecting
concerns and questions from both entities. These questions should be viewed only as a starting point
for this upcoming discussion with VRD.
PAB/aw
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TOWN OF VAIL
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75 South Frontage Road . ~
Vail, Colorado 81657
970-479-21 DO
.
FAX 970-479-2157
TM
FOR IMMEDIATE RELEASE August 26, 1998 , Contact: Andy Knudtsen, 479-2440
TOV Senior Housing Policy Planner
INFORMATION PACKETS AVAILABLE SEPT. 1 FOR RED SANDSTONE
HOUSING LOTTERY; APPLICATIONS DUE OCT. 1
(Vail)--Information packets will be available beginning Sept. 1 for those interested in becoming
future home owners of a unit in Vail's Red Sandstone Creek housing complex. The packets,
available from the Town of Vail Community Development Department, contain floor plans for the
new development as well as qualifications and procedures that will be used in deciding who will
live there. Construction of the 18-unit for-sale development began in July and will be completed
this spring.
Six units will be distributed to qualified buyers through a public lottery drawing on Nov. 5. The
units include 4 two-bedroom units for $138,500 each and 2 three-bedroom units for $178,500
each. The projected sales prices for the units are 40 percent below market rates for comparable
units of similar quality and location.
Lottery applications are due Oct. 1. Eligibility requirements for prospective home buyers
include the following: must currently own no other real estate in Eagle County, plan to use the
residence as an owner-occupied primary home and work a minimum of 30 hours over the course
of the year, and plan to continue working that same amount until the sale of the property or
retirement. Longevity of employment in Vail and residency will be used to rank candidates. This
will allow participation from downvalley residents, but will give Vail locals an edge. The larger
units will be set aside for families with children. Resale of the property will be capped at three
(more)
~,y~ RECYCLEDPAPER
Red Sandstone Lottery/Add 1
percent annual appreciation.
Already, community interest in the six Red Sandstone units is high, with over 35 inquiries, said
Andy Knudtsen, project manager.
Of the remaining 12 Red Sandstone units, two have been allocated to be purchased by critical
Town of Vail employees. The Eagle River Water and Sanitation District will acquire four units to
be rented to its employees, with four more units to be sold directly to water district employees.
The remaining two units, which are ADA accessible, will be sold by the Water District to the
Mountain Valley Corporation, which provides local services to developmentally disabled local
residents. The Town of Vail and the Water District are partners in the $2.6 million development,
each contributing land, coordination and project financing.
The Red Sandstone drawing in November will mark Vail's second housing lottery. In 1996, 75
applicants competed for 53 for-sale units at Vail Commons. Those units have since remained
within their original ownership, which reflects the town's goal of providing opportunities for
people to "put down roots" in Vail, Knudtsen said.
For more information on the Red Sandstone lottery, contact Knudtsen at 479-2440.
# # #
a.
PILED IN THE
COMM~rn OFFlCE
DISTRICT COURT, COUNTY OF EAGLE, STATE OF COLORADO AUG J1 74 a
Civil Action No. 98 CV 398 EAG'~~~~~Y, Co
~
ANSWER
DONOVAN PARK NEIGHBORHOOD ASSOCIATION, an unincorporated association; A.J.
FAAS & SONS; GUY AYRAULT; STEVEN BATHGATE; MARGARET BATHGATE; CAPE
, SHIRLEY N.V.; KARL FAULAND; VALERIE FAULAND; FLORENCE HABENICHT; JIM
HICKS; FARROW HITT; BRIDGET HITT; SALLY JACKLE; MARVIN LANGER; JUDY
LANGER; KATHRYN LAWRENCE; ANNE MORRIS; SUSZANNE MUELLER; WOLF
MUELLER; BOB NORMAN; RALPH SACKERMAN; JERRY SIBLEY; JUDY SIBLEY; and
JAMES R. WILLIAMS, on their own behalf and on behalf of taxpayers similarly situated,
Plaintiffs,
v.
TOWN OF VAIL, a municipal corporation;
TOWN COUNCIL OF THE TOWN OF VAIL; and
ROBERT MC LAURIN, as Town Manager of the Town of Vail,
Defendants.
COME NOW, Defendants Town of Vail, a municipal corporation; Town Council of the
Town of Vail; and Robert McLaurin, as Town Manager of the Town of Vail (hereinafter "Town
of Vail Defendants"), by and through the Town Attorney, R. Thomas Moorhead, and in response
to the Plaintiffs' Complaint state as follows:
PARTIES AND VENUE
1. The Town of Vail Defendants are without sufficient information to form a belief
as to the truth of the allegations contained in paragraphs l, 2 and 3 of the Complaint and
therefore deny the same.
2. The Town of Vail Defendants deny the allegations of paragraph 4 of the
Complaint.
3. The Town of Vail Defendants admit the allegations of paragraph 5.
l
GENERAL ALLEGATIONS
i. Constitutional, Charter and Code Provisions.
4. Paragraphs 6, 7, 8, 9 and 10 are rhetorical and do not require a response; to the
extent that said paragraphs refer to constitutional, charter and code provisions, those provisions
speak for themselves; and Town of Vail Defendants deny any relevancy of the application of
these sections to Resolution No. 9, Series of 1998.
- ii. Events leading up to the decision of the Council - 5. The Town of Vail Defendants deny the allegations of paragraph 11.
6. The Town of Vail Defendants admit the allegations of paragraphs 12, 13 and 14,
and further aver that those zone districts and uses presently apply and have not been changed.
iii. The decision of the Council
7. The Town of Vail Defendants admit that on June 30th, 1998, the Town Council
adopted Resolution No. 9, Series of 1998, and further aver that the document speaks for itself
and otherwise deny the allegations of paragraphs 15, 16 and 17.
FIRST CLAIM
(pursuant to Article X, Section 20, Colo. Const.)
8. The Town of Vail Defendants incorporate by reference their answers to
paragraphs 1 through 17, as they pertain to paragraph 18 of the Complaint.
9. The Town of Vail Defendants aver that Article X, Section 20(1), Colo. Const.
speaks for itself and otherwise deny paragraphs 19 and 20.
SECOND CLAIM .
(pursuant to Rule 57)
10. The Town of Vail Defendants incorporate by reference their answers to
paragraphs 1 through 20, as they pertain to paragraph 21 of the Complaint.
11. The Town of Vail Defendants deny the allegations of paragraphs 22 and 23.
THIRD CLAIM
(pursuant to Rule 106(a))
12. The Town of Vail Defendants, incorporate by reference their answers to
paragraphs 1 through 23, as they pertain to paragraph 24 of the Complaint.
t
413. The Town of Vail Defendants deny the allegations of paragraphs 25 and 26.
FOURTH CLAIM
(pursuant to Rule 65)
14. The Town of Vail Defendants, incorporate by reference their answers to
paragraphs 1 through 26, as they pertain to paragraph 27 of the Complaint.
15. The Town of Vail Defendants deny the allegations of paragraphs 28 and 29.
FIFTH CLAIM
(42 USC § 1983)
16. The Town of Vail Defendants, incorporate by reference their answers to
paragraphs 1 through 29, as they pertain to paragraph 30 of the Complaint.
17. The Town of Vail Defendants deny the allegations of paragraph 31.
SIXTH CLAIM
(attorney's fees)
18. The Town of Vail Defendants, incorporate by reference their answers to
paragraphs 1 through 31, as they pertain to paragraph 32 of the Complaint.
19. The Town of Vail Defendants deny the allegations of paragraph 33.
AFFIRMATIVE DEFENSES
. 1. Plaintiffs have failed to state a claim upon which relief can be granted. 2. Plaintiffs' claims are barred, limited or otherwise governed by the Colorado
Governmental Immunity Act, Sections 24-10-101 through Section 24-101-20 C.R.S. (1998).
3. Plaintiffs Second Claim for Relief is barred by Rule 57(f), C.R.C.P.
4. Plaintiffs lack standing.
5. Plaintiffs have failed to exhaust their administrative remedies.
6. Plaintiffs' claims are barred by the doctrine of official immunity.
7. Plaintiffs' claims are barred by the doctrine of qualified immunity.
8. Plaintiffs' claims are barred by absolute legislative immunity.
~
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'
9. Plaintiffs' claims are barred by absolute quasi judicial immunity.
10. Plaintiffs' claims are not well grounded in fact and are not warranted by existing
law or a good faith argument for the extension, modification or reversal of existing law.
11. Plaintiffs' claims are frivolous and groundless, entitling Town of Vail Defendants
to attorneys fees, costs and expenses pursuant to C.R.S. Section 13-17-101 and C.R.S. 24-10-
110(5) and 42 U.S.C. Section 1988.
WHEREFORE, having fully answered the Plaintiffs' Complaint, the Town of Vail .
Defendants pray that the Complaint against them be dismissed, that they have judgment for their
costs, including attorneys fees and expert witness fees, interest and such other and further relief
as this Court may deem proper.
Dated this 17th day of August, 1998.
Respectfully submitted,
/
fThomas Moorhead, #022445
Town of Vail, Colorado
Town Attorney
75 S. Frontage Road
Vail, Colorado 81657
Phone (970) 479-2107
CERTIFICATE OF MAILING
I hereby certify that a true and correct copy of the foregoing postage prepaid by
U.S. Mail on 17th day of August, 1998 to the following:
John W. Dunn, Esquire
Dunn, Abplanalp & Mauriello, P.C.
108 S. Frontage Road, Suite 300
Vail, CO 81657
,i`
,
~ FILED rN rNE
' CVmQwR°`~ r! r:rr,•. fNFFICE
DISTRICT COURT, COUNTY OF EAGLE, STATE OF COLORADO {~g" , f Eul:i,
Civil Action No. 98 CV 401 I~~UNTY, CO
$x
ANSWF-R
SAVE OPEN SPACES, an unincorporated association; CHARLES BERNHARDT;
CHARMAYNE T. BERNHARDT; NOEL HARRIS; VALLERIE HARRIS; LORRAINE
HOWENSTEIN; ROBERT MORRIS; CHRISTIAN GRAMM; and KIM GRAMM, on their own
behalf and on behalf of the taxpayers similazly situated, _ •
Plaintiffs,
v.
TOWN OF VAIL, a municipal corporation, TOWN COLJNCIL OF THE TOWN OF VAIL; and
ROBERT McLAURIN, as Town Manager of the Town of Vail,
Defendants.
COME NOW, Defendants Town of Vail, a municipal corporation; Town Council of the
Town of Vail; and Robert McLaurin, as Town Manager of the Town of Vail (hereinafter "Town
of Vail Defendants"), by and through the Town Attorney, R. Thomas Moorhead, and in response
to the Plaintiffs' Complaint state as follows:
PARTIES AND VEN E
1. The Town of Vail Defendants are without sufficient information to form a belief
as to the truth of the allegations contained in paragraphs 1, 2 and 3 of the Complaint and
therefore deny the same.
2. The Town of Vail Defendants deny the allegations of paragraph 4 of the
Complaint.
3. The Town of Vail Defendants admit the allegations of paragraph 5.
GENERAL ALLEGATIONS
i. Constitutional, Charter and Code Provisions.
4. Paragraphs 6, 7, 8 and 9 are rhetorical and do not require a response; to the extent
that said paragraphs refer to constitutional, charter and code provisions, those provisions speak
for themselves; and Town of Vail Defendants deny any relevancy of the application of these
sections to Resolution No. 9, Series of 1998.
ii. Events leading up to the decision of the Council
5. The Town of Vail Defendants deny the allegations of paragraphs 10 and 11.
iii. The decision of the Council
6. The Town of Vail Defendants admit that on June 30th, 1998, the Town Council
adopted Resolution No. 9, Series of 1998, and further aver that the document speaks for itself
and otherwise deny the allegations of paragraphs 12, 13 and 14.
FIRST CLAIM ' (pursuant to Article X, Section 20, Colo. Const.)
7. The Town of Vail Defendants incorporate by reference their answers to
paragraphs 1 through 14, as they pertain to pazagraph 15 of the Complaint.
8. The Town of Vail Defendants aver that Article X, Section 20(1), Colo. Const.
speaks for itself and otherwise deny paragraphs 16 and 17.
SECOND CLAIM
(pursuant to Rules 57)
9. The Town of Vail Defendants incorporate by reference their answers to
paragraphs 1 through 17, as they pertain to paragraph 18 of the Complaint.
10. The Town of Vail Defendants deny the allegations of paragraphs 19 and 20.
THIRD CLAIM
(pursuant to Rule 106(a))
11. The Town of Vail Defendanis incorporate by reference their answers to
paragraphs l through 20, as they pertain to paragraph 21 of the Complaint.
12. The Town of Vail Defendants deny the allegations of paragraphs 22 and 23.
FOURTH CLAIM
(pursuant to Rule 65)
13. The Town of Vail Defendants incorporate by reference their answers to
paragraphs 1 through 23, as they pertain to paragraph 24 of the Complaint.
14. The Town of Vail Defendants deny the allegations of paragraphs 25 and 26.
FIFTH CLAIM
15. The Town of Vail Defendants, incorporate by reference their answers to
. paragraphs 1 through 26, as they pertain to paragraph 27 of the Complaint.
16. The Town of Vail Defendants deny the allegations of paragraph 28.
, AFFIRMATIVE DEFENSES
1. Plaintiffs have failed to state a claim upon which relief can be granted.
2. Plaintiffs' claims are barred, limited or otherwise governed by the Colorado
Governmental Immunity Act, Sections 24-10-101 through Section 24-101-20 C.R.S. (1998).
3. Plaintiffs Second Claim for Relief is barred by Rule 57(fl, C.R.C.P.
4. Plaintiffs lack standing.
5. Plaintiffs have failed to exhaust their administrative remedies.
6. Plaintiffs' claims are barred by the doctrine of official immunity.
7. Plaintiffs' claims are barred by the doctrine of qualified immunity.
8. Plaintiffs' claims are barred by absolute legislative immunity.
9. Plaintiffs' claims are barred by absolute quasi judicial immunity.
10. Plaintiffs' claims are not well grounded in fact and are not warranted by existing
law or a good faith argument for the extension, modification or reversal of existing law. .
11. Plaintiffs' claims are frivolous and groundless, entitling Town of Vail Defendants
to attorneys fees, costs and expenses pursuant to C.R.S. Section 13-17-101 and C.R.S. 24-10-
I 10(5) and 42 U.S.C. Section 1988.
WHEREFORE, having fully answered the Plaintiffs' Complaint, the Town of Vail
Defendants pray that the Complaint against them be dismissed, that they have judgment for their
costs, incIuding attorneys fees and expert witness fees, interest and such other and further relief
as this Court may deem proper.
.
Dated this 17th day of August, 1998.
Respectfully submitted,
- ~ R. Thomas Moorhead; #022445
Town of Vail, Colorado Town Attorney -
75 S. Frontage Road
Vail, Colorado 81657
Phone (970) 479-2107
CERTIFICATE OF MAILING
I hereby certify that a true and conect copy of the foregoing postage prepaid by
U.S. Mail on 17th day of August, 1998 to the following:
Richard J. Scheurer, Esquire
Robinson & Scheurer, P.C.
143 Union Boulevard, Suite 625
Lakewood, CO 80228
~
- ~i
, ~ .
~
FlLED IN THE
DISTRICT COURT, COUNTY OF EAGLE, STATE OF COLORADOOM~~~4~~ ~F~~E
Civil Action No. 98 CV 399
. EAGl.~ COUiVTY, CO
ANSWER
PETER DUNNING; LUCY DUNNING; CAROL HYMERS; SYBIL ROACH; FREDERICK
SCHUBERT, MARIA SCHUBERT, ALEX PALMER LINN, SUSAN RUBEINSTEIN, PHILIP
CORBOY, JR., VERNE M. WILLAMAN AND ELLEMORE JOINT VF-NTURE,
Plaintiffs, -
v.
TOWN OF VAIL, a municipal corporation,
Defendant.
COMES NOW, Defendant Town of Vail, a municipal corporation, by and through the
Town Attorney, R. Thomas Moorhead, and in response to the Plaintiffs' Complaint states as
follows:
1. The Town of Vail is without sufficient information to form a belief as to the truth
of the allegations contained in paragraphs 1 through 10 of the Complaint and therefore deny the
same.
2. The Town of Vail admits the allegations of paragraph 11 of the Complaint.
GENERAL ALLEGATIONS
3. Paragraphs 12, 13, 14, 15 and 16 are rhetorical and do not require a response; to
the extent that said paragraphs refer to constitutional, charter and code provisions, those
provisions speak for themselves; and Town of Vail denies any relevancy of the application of
these sections to Resolution No. 9, Series of 1998.
4. The Town of Vail denies the allegations of paragraph 17.
5. The Town of Vail admits the allegations of paragraphs 18, 19 and 20, and further
avers that those zone districts and uses presently apply and have not been changed.
6. The Town of Vail admits that on June 30th, 1998, the Town Council adopted
Resolution No. 9, Series of 1998, and further avers that the document speaks for itself and
otherwise deny the allegations of paragraphs 21, 22 and 23.
i •
¦
FIRST CLAIM
(pursuant to Article X, Section 20, Colo. Const.)
7. The Town of Vail incorporates by reference its answers to paragraphs 1 through
23, as they pertain to paragraph 24 of the Complaint.
8. The Town of Vail avers that Article X, Section 20(1), Colo. Const. speaks for
itself and otherwise denies paragraphs 25 and 26.
SECOND CLAIM
(pursuant to Rule 57)
9. The Town of Vail incorparates by reference its answers to paragraphs 1 through
26, as they pertain to paragraph 27 of the Complaint.
10. The Town of Vail denies the allegations of paragraphs 28 and 29.
THIRD CLAIM
(pursuant to Rule 106(a))
11. The Town of Vail incorporates by reference its answers to paragraphs 1 through
29, as they pertain to paragraph 30 of the Complaint.
12. The Town of Vail denies the allegations of paragraphs 31 and 32.
FOURTH CLAIM
(pursuant to Rule 65)
13. The Town of Vail incorporates by reference its answers to paragraphs 1 through
- 32,.as they pertain to paragraph 33 of the Complaint. .
14. The Town of Vail denies the allegations of paragraphs 34 and 35.
FIFTH CLAIM
(42 USC § 1983)
15. The Town of Vail incorporates by reference its answers to paragraphs 1 through
35, as they pertain to paragraph 36 of the Complaint.
16. The Town of Vail denies the allegations of paragraph 37.
.
SIXTH CLAIM
(attorney's fees)
17. The Town of Vail incorporates by reference its answers to paragraphs 1 through
37, as they pertain to paragraph 38 of the Complaint.
18. The Town of Vail denies the allegations of paragraph 39.
AFFIRMATIVE DEFENSES
1. Plaintiffs have failed to state a claim upon which relief can be granted.
2. Plaintiffs' claims are barred, limited or otherwise governed by the Colorado
Governmental Immunity Act, Sections 24-10-101 through Section 24-101-20 C.R.S. (1998).
3. Plaintiffs Second Claim for Relief is barred by Rule 57(f), C.R.C.P.
4. Plaintiffs lack standing.
5. Plaintiffs have failed to exhaust their administrative remedies.
6. Plaintiffs' claims are barred by the doctrine of official immunity.
7. Plaintiffs' claims are barred by the doctrine of qualified immunity.
8. Plaintiffs' claims are barred by absolute legislative immunity.
9. Plaintiffs' claims are barred by absolute quasi judicial immunity.
10. Plaintiffs' claims are not well grounded in fact and are not warranted by existing
law or a good faith argument for the extension, modification or reversal of existing law. .
11. Plaintiffs' claims are frivolous and groundless, entitling Town of Vail to attorneys
fees, costs and expenses pursuant to C.R.S. Section 13-17-101 and C.R.S. 24-10-110(5) and 42
U.S.C. Section 1988.
WHEREFORE, having fully answered the Plaintiffs' Complaint, the Town of Vail prays
that the Complaint against it be dismissed, that it have judgment for its costs, including attorneys
fees and expert witness fees, interest and such other and further relief as this Court may deem
proper.
'
Dated this 17th day of August, 1998.
Respectfully submitted,
,
.'lZ. Thomas Moorhead, ~ 022445 ' Town of Vail, Colorado
Town Attorney
75 S. Frontage Road
Vail, Coiorado 81657
Phone (970) 479-2107
CERTIFICATE OF MAILIN
G
I hereby certify that a true and correct copy of the foregoing postage prepaid by
U.S. Mail on 17th day of August, 1998 to the following:
Frederick S. Otto, Esquire
Wendell B. Porterfield, Esquire
Mary Joan Berenato, Esquire
Otto, Porterfield & Post, LLC
Post Office Box 3149
Vail, CO 81658
i-
i'
~
f MEMORANDUM
August 26, 1998
To: Town Council
From: Sally Lorton
Re: July Sales Tax Collection
Attached is the sales tax worksheet with collections through August 25, 1998. We have received
the majority of the July tax returns. However, I estimate I will collect another $54,000.00 for July
sales tax (ie 13 period filers and delinquent accounts). This additional July tax would result in a
1.5% increase over July 1997 and a.13°/a decrease from budget. Year to date collections would
result in a 2.1 % increase over 1997 and.76% increase over budget. Events aze listed below with
the major difference being in 1997 we had the Grundig World Cup Mountain Bike Race.
1997 Events
Bravo! Colorado
Budweiser Hot Summer Nights
Ford Cup Invitational
Grundig World Cup Mountain Bike Race
Heuga Mountain Bike Express
Vail Hill Climb
Vail Invitational Skating Championships
Vail Arts Festival
Vail Lacrosse Shootout
Vail America Days
VBS Summer Bike Race Series
1998 Events
Bravo! Colorado
Budlight Mountain Challenge
Ford Cup Invitational
Hot Summer Nights
Rocky Mountain Regional Soccer Shootout
Vail International Dance Festival
Vail Hill Climb
Vail Arts Festival
Vail Lacrosse Shootout
Vail America Days
Town of Vall
5ales Tax Worksheet
8/25/98
x cnenge x cnanya
15" dudget irom from
Mo nt h 1987 1988 1889 1890 1991 1992 1893 1894 1995 1896 1997 Budget Collecftona Vsrlsnce 1897 Budgef
. . .;5:<.;;;i~:i:;;:;:;:;y;{.:r:~y~::.'•::y;:::~';:::r;r::,:v.;;;:t;:;;
•:r.:•<::;::.;r:•:::.:.~.s::.:::::.~ ::;.'•:5>::::::•:»;.rr: t•r;::.>:::;>;;:w::Sr;;:::::r:...........s:~:...
.
.
,:.!y::::::: :;'~::.;•:::::::::::::.~.>5::•>:~ . . .
. . .
. . : ~........y;:::: ~
..:,.;:r:::>:.;+~•::•:.~:•::::.~::::.:~ :::::::::::::::.:....•:.•::::::::.:...::,::::,y:::::.......~::.,»:,::::::~•::.s:~:u~:::;::::.:::::•;:::.;.r,.rr::•:;rr.+..'r.::tt•:;::::»:::•::::S::y.::....:.: •
~'r''•i ;i%;:'•?'i% ii;:;;i:i;'•:;::i::i;::;i;"i:::i:~::ii;ii5i;i;5:;~i:~;:~~::.~:3;:i;'~i%~'::;
.
: •;.;r:: , . . •:.a.~ ~•::;;;:;::;%:ii:«r ~:+s: r:::>:;;
:.:..:.:::::::::::::.~::::.~:::.~:::::::::::.~:r::3::::s,:.....
Janua 1,063,1961,126,496 1,465,870 1,599,123 1,713,091 1,709,654 1,855,364 1,805,707 1,894,597 1,935,782 2,052,569 2,076,931 2,112,650 35,719 2.93% 1.72/0
Februa 1,135,786 1,205,101 1,561,286 1,695,850 1,737,343 1,780,568 1,828,766 1,814,495 1,816,107 1,993,389 2,089,673 2,121,757 2,150,566 28,809 2.91 % 1.36%
March 1,378,7821,591,705 7,939,758 1,897,718 2,051,820 1,977,995 1,988,090 2,250,656 2,139,298 2,240,865 2,580,992 2,614,841 2,363,215 (251,626) -8.44% -9.62%
A rll 425,961 550,205 567,684 634,174 616,648 691,163 864,303 794,668 791,092 966,993 874,427 881,575 1,104,825 223,250 26.35% 25.32%
Ma 245,518 170,567 215,548 236,359 250,809 268,000 257,248 287,315 324,681 318,920 329,783 328,723 380,186 51,463 1528% 15.66%
June 331,581 329,039 393,470 448,227 468,948 468,598 475,161 548,820 590,685 594,907 630,366 642,504 630,308 (12,196) -0.01 % -1.90%
July 479,201 559,683 649,139 665,094 737,288 742,750 811,538 892,830 893,483 963,717 1,043,637 1,060,879 1,005,514 (55,365) -3.65 % •5.22 %
Total 5,060,025 5,532,796 6,792,755 7,176,545 7,575,947 7,638,728 8,080,470 8,394,491 8,449,943 9,014,573 9,601,447 9,727,210 9,747,264 20,054 1.52% 0.21 %
.
~ ~ ~ .
r;: r••;:::s••;:::w:; :•:o.,y...,
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~;:•k;+:%~>:•::::. ~
•
s:~:,:5:•`.;Y;::~;..:;:;;:::a..: ~:.::::~>:-;:c.::•::%':.
,-:y:•:.:.. '•.:•:•i:•..7: ,..:.:•:::5>:..r:s:-r.:.:~•..•;:;:.;;;;•:..::~..~.t:::~:r.''."•::>:+-:~:..::i:~•:::::::.;:•::•;:~:t.::: .
. ~........:::t;c;•'•:•:r::;~:•:;::•:•:>::•f;•:;<~:::<•:Lr•s
. . .........:::~•.~:i
..........,......»..:.,....r........................ .
. . . . ..,5:::::::::::.c~::::::::~:::::......
...::::::y:;vi:y~.:.;ryY:::;. .
, . yy;::.;{:::::::: .
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. .
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...~...:,:::::::.:t;t :v:+~::{.+':•:.:;.•.•.y;.•.•:;:j;i:::.,+.:ti~:iLt:
~::~$:~::~:~••'.<:~::~:~:r'+: ~:~3r::r,::~.'•:~i:Lr.<
m.~: r•:Yi:;::;:;i....... r:: ~:i:fY.•:~iiiy::::::::::.:r:L~i~ ri:~:~:i::`~iii:titi~:~S{!4i:iii::~i:~i~'i:~ii:~i:~i:
::i'/.::::::::.~:::::::.'•iii::.:::<~i+::i:::.ii$SSi::: ~ii'i.ii:•::•:ih:'ii:>y.;y:;•
...~~:i:~ , ~.{•:r•... ~.::~{:::::.iiii~ti::.~: ~::y~:: ;y,r::;:;:.i'.ii.: .:i.:: v:r::ii::4iiiiY,i.iiS
~ r.v.~ ~::l.~:::::i:i.:... :...y.~.~
~~:::~:::~:Li•}iiii'~i:.:::: ...i~:::::::::~:~ii::{.::•i:.:i•::: v::
:v. ..f... . . ...~..............................~....r......... .
Au ust 536,904 575,887 668,119 678,071 761,992 767,257 825,954 891,566 867,125 990,650 1,073,430 1,090,762
Se tember 442,402 422,502 469,032 482,328 491,684 485,954 560,535 725,205 645,902 630,453 637,831 642,504
October 273,951 291,204 335,740 364,002 324,802 367,578 400,525 408,405 461,791 413,573 472,836 478,142
November 386,270 376,235 430,820 438,731 428,086 497,907 553,681 594,491 611,147 601,208 707,166 717,214
December 1,245,612 1,455,948 1,615,278 1,625,219 1,691,775 1,846,223 1,974,553 1,992,855 1,994,540 2,068,851 2,254,709 2,286,119
Total 7,945,164 8,654,572 10,311,744 10,764,886 11,274,286 11,603,647 12,395,718 13,007,013 13,030,448 13,719,308 14,747,419 14,941,951 9,747,264 20,054
4 •.:1 .~I
4IL
TOWN ~
75 South Frontage Road . ~
Vail, Colorado 81657
970-479-2100
.
FAX 970-479-2157
TM
MEDlA ADVISORY
August 26, 1998
Contact: Suzanne Silverthorn, 479-2115
Community Information Office
VAIL TOWN COUNCIL HtGHLIGHTS FOR QUGUST 25
Work Session Briefs
Council members present: Armour, Arnett, Fo1ey, Ford, Jewett, Kurz
(Sybill Navas is in Australia representing the Town of Vail)
. --Employee Recognition
The Council recognized Cooter Overcash, a fire technician in the Fire Department and Brian
Canepa, a carpenter in the Public Works Department, for 20 and 15 years of service,
respectively.
--Vai! Valley Community TV Update
Next, the Council heard an overview from representatives of Channel 5 regarding the station's
programming as well as attempts to increase the station's revenue sources through corporate
sponsorships. The station operates on an annual budget of about $100,000, which includes
$45,000 in TCI cable franchise fees collected in Vail and passed on to the station. The Town of
Vail contributes 2% of the 5% franchise fee to Channel 5. Corporate support from TCI has
decreased in the last three years, they said, due to new franchise agreements with the towns of
Vail and Avon. Tliis has resulted in the need for increased revenues for equipment replacement
and other operational costs. Channel 5 board members Brian Hall and Steve Miller said they
wanted to make sure Councilmembers thought the station was providing a valuable service to
the area. Assuming it is, they said they'd continue pursuing revenue sources to keep the station
afloat. The Town Council continues to discuss the status of the current franchise agreement
which provided for a total fiber optic build out. TCI has already put the town on notice that it has
selected a digital technology approach, instead, and this state-of-the-art upgrade no longer
requires a total fiber optic build out. The current franchise agreement calls for significant
penalties for violations of the agreemenYs requirements.
--PEC/DRB Report
During a review of the recent Planning and Environmental Commission and Design Review
Board meetings, the Council received updates on a plan to expand Timber Falls, as well as a
development request that would create 21 employee housing units, 15 fractional fee units and
11 accommodation units on the site at Cascade Village known as "the ruins." Updates also
were provided on: a request to remodel the front entryway of the Vail Village Club; a request to
use the tennis facility at Vail Cascade Hotel and Ciub for special events and conference
facilities; a request to expand Dobson Ice Arena for locker rooms and a gymnastics facility; a
request to revise the west entry at the Mountain Haus; a request for site improvements at the
(more)
RECYCLED PAPER
Add 1/TOV Council Highlights/8-25-98
Vista Bahn ski yard; and a request for the placement of inechanical equipment on the roof of the
Glen Lyon Office Building. For details, contact Dominic Mauriello in the Community
Development Department at 479-2148.
--Red Sandstone Lottery
The Council gave final approval to the criteria for the upcoming nublic lottery on the Red
Sandstone affordable housing development. Six units will be made available for purchase by
the public. The lottery criteria includes the following: equal consideration will be given to length
of employment within the Town of Vail as weU as length of time living within the Town of Vai{;
duration of residency within the Town of Vail will have to be verifiable (voter registration, former `
leases, utility bills, etc.); people both working and residing within the Town of Vail will be given higher priority than those just living within the town, based on the structure of the lottery which
combines points from both of these categories; the lottery will be open to all who currently do not
own a home within Eagle County (prior home ownership will not be a factor); the business
community will be invited to purchase or lease units in larger and/or seasonal housing projects,
but will not be allowed in this lottery. The lottery drawing for the six units will be held Nov. 5.
The remaining 12 units will be controlled by Town of Vail and its project partner, the Eagle River
Water and Sanitation District. For additional details, please refer to the news release issued
earlier today, or call Andy Knudtsen in the Community Development Department at 479-2440.
--Village Core Construction Update
Larry Grafel, public works/transportation director, gave an overview on the Village construction
projects. Seibert Circle is nearly complete with clean-up scheduled for this weekend. Sculpture
pieces will arrive after Labor Day. The snowmelt project at the Transportation Center will be
about 98 percent complete by next week. The Slifer Plaza project will be nearly complete by the
end of next week with the in-town bus route resuming normal operations by Labor Day weekend.
Also, there's been a one-day delay in the asphalt overlay project on the West Vail bus routes
due to equipment problems, Grafel said. Public Works underpass project is running about two
weeks behind schedule, also due to equipment problems, in addition to problems associated
with unstable soil. In addition, the town is in the process of receiving approval from the Federal
Highway Administration for construction of the "button hook" turn at the I-70 eastbound onramp
just east of the Main Vail roundabout on South Frontage Rd. The Colorado Department of
Transportation has already given approval, Grafel said. Also yesterday, in response to a
question from Kevin Foley, Bob McLaurin explained the status of a drainage pipe associated
with expansion of the Gasthof Gramshammer.
--Common Ground/List of Ideas and Concepts
The Council reviewed a list of 60-plus affordable housing ideas that have been offered
throughout the Common Ground process and asked members of the audience to add additional
ideas to the list. This is in preparation for tne next community discussion on Common Ground
which has been scheduled for Sept. 15. At ihat time, the list, along with a staff analysis, would
serve as the basis foc presentation and discussion. During yesterday's session, Farrow Hitt, a
resident of the Intermountain neighborhood, asked Council to consider scheduling time beyond
the Sept. 15 discussion for a continued dialogue on the ideas. Diana Donovan, a resident of the
Golf Course neighborhood, submitted a list of additional ideas to be added to the list. She said
she was looking forward to working with the Council and that she was optimistic that the ideas
could meet the Council's housing goals without "stepping on anyone's toes." She suggested
Council provide a forum for discussion of complicated ideas and to allow citizens an opportunity
to explain why a previously dismissed idea still has merit. While the submission of new ideas is
welcome any time. Councilmembers asked that ideas to be discussed on Sept. 15 be submitted
to the town by Sept. 3. Information packets for the Sept. 15 discussion will be available to
(more)
x
Add 2/TOV Council Highiights/8-25-98
members of the public by 2 p.m. on Sept. 11. The packets will be available a# the information
desk in the Vail Municipal Building. Also yesterday, Paul Rondeau, a resident of the Golf Course
neighborhood, presented his thoughts regarding additional compromises that are in order to
move the Common Ground process forward without being tied up in the courts. Rondeau
offered suggestions for behavior improvements among those who have spoken out against the
plan, those who are actively in support of the plan and members of the Town Council. .
, --Information Update .
In preparation for a joint meeting with the Vail Recreation District Board on Sept. 15,
Councilmembers were asked to review a list of discussion topics.
--Council Reports
Kevin Foley gave an update on the most recent activities of the Eagle County Regional
Transportation Authority in which a new name (ECO) has been introduced. Foley also
expressed frustration that an intergovernmental agreement (IGA) between the authority and the
Town of Vail took longer to complete than anticipated. The IGA is for operation of the Dotsero-
to-Vail bus service. In addition, Foley suggested scheduling a Council discussion on the Town
of Vail's future contractual involvement in operation of the Dotsero-to-Gypsum route. The Town
launched the route in partnership with Eagle County in 1994 prior to passage of the half-cent
countywide transportation sales tax and before the transit authority was formed. Town Manager
Bob McLaurin has said operation of the outlying route stretches the town's capability to provide
quality bus service within the town's boundaries. Also yesterday, Foley, after representing the
Council at a meeting of the Vail Recreation District, expressed concerns about the VRD's
expansion plans for pobson Arena, indicating the expansion has turned into a much larger
project than originally planned. He also said the VRD would address concerns expressed by a
neighbor at the Golf Course regarding use of speakers during the early morning hours.
Bob Armour reported on a recent meeting of the Vail 99 Organizing Committee, as weN as a
Colorado Association of Ski Towns (CAST) meeting in Gunnison. The CAST meeting featured
comments from representatives of the Colorado Association of Commerce and Industry, the
Office of Business Development, Colorado Travel and Tourism and the state chapter of the
American Planning Association. Also at the meeting, Armour learned that Vail stands to receive
.$216,000 for local transportation projects if voters approve a statewide ballot issue to retain . excess revenues. Those revenues would be distributed throughout the state for education and
transportation projects.
Michael Arnett attended a board meeting of the Vail Valley Tourism and Convention Bureau in
which there was a discussion regarding the likelihood of "tourism-friendly" candidates for the
Avon Town Council. Camp Jeep's success also was discussed, as well as an update on the
Vail Oktoberfest event and an interest by the VVTCB to close the Lionshead Information Center.
Also, Arnett said he was concerned that a non-member business owner has reported difficulty in
receiving referrals from the VVTCB information center. He said representatives from the VVTCB
have assured him that non-members are treated fairly by the VVTCB and that an aggressive
employee training program would be launched immediately.
--Other
After describing the town's inability to enforce the use of helmets at the skatepark in the
Lionshead parking structure, Town Attorney Tom Moorhead received the go-ahead from Council
to pursue an emergency ordinance that would require use of helmets at the skatepark along with
any other enforcement measures suggested by the Vail Recreation District. The emergency
ordinance will be considered at next Tuesday's evening Council meeting. Despite posted signs
and verbal requests from skatepark supervisors, Moorhead said the supervisors are having
(more)
c
Add 3/TOV Council Highlights/8-25-98
difficulty getting about 90 percent of the users to wear their helmets. He said an ordinance
requiring helmet use will provide an enforcement toot that currently doesn't exist. During
, discussion, Councilman Michael Jewett expressed interest in limiting the scope of the helmet
. ordinance to the skatepark, itself.
Bob Armour thanked those who participated in the Rescue Rangers event last Saturday at Ford
Park.
Michael Jewett received clarification from Town Attorney Tom Moorhead regarding the status of
the Common Ground lawsuits. Moorhead said the town has been servecl and has responded to
3 lawsuits. At Jewett's request, the town's response will be routed to Councilmembers. " -
Kevin Foley also expressed appreciation to organizers of the Rescue Rangers program. He
also: noted the ultra marathon race went well; thanked Ludwig Kurz and Rob Ford for
sponsorship of his participation in a bike race fund-raiser; asked that more chairs be added to
the Council Chambers for overflow crowds; shared a constituent request that the North Trail be
renamed in memory of Lyndon Ellefson; suggested moving forward on a Council training
program for use of Internet e-mail; noted that Fire Chief Dick Duran had been mentioned in Golf
Digest for a hole-in-one shot in Rifle; suggested the Town Council voice mail system be adjusted
to enable messages to be routed to all Council members with one phone call, as well as an
ability to return to the main menu after leaving a message; asked that the Town consider a
proactive campaign to address the need for residents and bears to co-exist; suggested the need
, to revisit the Dowd Junction recreation path closure schedule (the path is closed during elk and
deer migration season at the direction of the Colorado Division of Wildlife); asked about the
status of the daycare facility at Vail Commons to replace the Bright Horizons operation (there will
be interruption of service, but City Market is in contact wi.th several qualified daycare providers);
inquired about the status of rebuilding the playground equipment at Stephens Park (materials
will be delivered in mid September); and inquired about the possibilit.y of re-establishing a tot lot
for the Lionshead area.
Lastly, Joanne Glenn, a former staff member of the Vail Valley Tourism & Convention Bureau,
distributed a letter to Councilmembers explaining her allegation of questionable practices
associated with the distribution of lodging reservations throughout the valley by the VVTCB.
UPCOMING DISCUSSION TOPICS September 1 Work Session
Multi-Family GRFA Discussion
Glen Lyon Office Building
September 1 Evening Meeting
Second Reading, Bond Refinancing
Emergency Ordinance Requiring Use of Helmets at the Skatepark Facility on the Lionshead
Parking Structure
September 8 Work Session
DRB Review
Discussion of Model Traffic Code
Park Free After 3 Discussion
Second Quarter Financial Report
# # #
I'
~
u
1y
TOWN OF VAIL
~
75 South Frontage Road . ,
Vail, Colorado 81657
970-479-2100
.
FAX 970-479-2157
TM
. FOR IMMEDIATE RELEASE
- , August 26,_ 1998 ' Contact: Andy Knudtsen, 479-2440
TOV Senior Housing Policy Planner
INFORMATION PACKETS AVAILABLE SEPT. 1 FOR RED SANDSTONE
HOUSING LOTTERY; APPLICATIONS DUE OCT. 1
(Vail)--Information packets will be available beginning Sept. 1 for those interested in becoming
future home owners of a unit in Vail's Red Sandstone Creek housing complex. The packets,
available from the Town of Vail Community Development Department, contain floor plans for the
new development as well as qualifications and procedures that will be used in deciding who will
live there. Construction of the 18-unit for-sale development began in July and will be completed
this spring.
Six units will be distributed to qualified buyers through a public lottery drawing on Nov. 5. The
units include 4 two-bedroom units for $138,500 each and 2 three-bedroom units for $178,500
each. The projected sales prices for the units are 40 percent below market rates for comparable
units of similar quality and location.
Lottery applications are due 4ct. 1. Eligibility requirements for prospective home buyers
include the following: must currently own no other real estate in Eagle County, plan to use the
residence as an owner-occupied primary home and work a minimum of 30 hours over the course
of the year, and plan to continue working that same amount until the sale of the property or
retirement. Longevity of employment in Vail and residency will be used to rank candidates. This
will allow participation from downvalley residents, but will give Vail locals an edge. The larger
units will be set aside for families with children. Resale of the property will be capped at three
(more)
RECYCLEDPAPER
Red Sandstone Lottery/Add 1
percent annual appreciation.
Already, community interest in the six Red Sandstone units is high, with over 35 inquiries, said
Andy Knudtsen, project manager.
Of the remaining 12 Red Sandstone units, two have been allocated to be purchased by critical
. Town of Vail employees. The Eagle River Water and Sanitation District will acquire four units #o- .
be rented to its employees, with four more units to be sold directly to water district employees.
The remaining two units, which are ADA accessible, will be sold by the Water Distric# to the
Mountain Valley Corporation, which provides local services to developmentally disabled local
residents. The Town of Vail and the Water District are partners in the $2.6 million development,
each contributing land, coordination and project financing.
The Red Sandstone drawing in November will mark Vail's second housing lottery. In 1996, 75
applicants competed for 53 for-sale units at Vail Commons. Those units have since remained
within their original ownership, which reflects the town's goal of providing opportunities for
people to "put down roots" in Vail, Knudtsen said.
For more information on the Red Sandstone lottery, contact Knudtsen at 479-2440.
# # #
TIME FOR YOU T4 CHECK
OUT THE INTERNET??
Here's a great opportunity! ! ! "
Vailnet will be offering a free
INTERNET SEMINAR
10:00-11:30 a.m. the first Saturday of each month through December in the
Vail Public Library Community Room, e.g. see specific da.tes cited below.
This regularly scheduled seminar is in response to user requests. The
seminar will provide an intro to the Intemet and how to use web browsers,
search engines and net guides. This seminar will help you not only surf the
web but FIND useful information.
The seminar is beneficial for both guests and locals who want to decide if
_ they need to be "connected". For those who have used the Internet for a
while and have aspects that you still haven't understood, the seminar will
offer a chance to ask a rea1, live person how to get the result you want.
Although FREE, please RSVP, since the seminar does fill.
RSVP at 949-3318.
September 5t' .
Uctober 3'd
November 7t"
December 5th
u
TOWN OF VAIL
~
Office of the Town Manager
75 South Frontage Road
Yail, Colorado 81657
.
970-479-2105/Fax 970-479-2157
MEMORANDUM T""
TO: Vail Town Council
FROM: Pamela A. Brandmeye , Assistant Town Manager
DATE: August 28, 1998
RE: Use of Vacated VRD Space
As Bob Armour had indicated a couple of weeks ago, the recently vacated space on the lower level
of the Library will be used to disburse volunteer uniforms for the 99s. Along with that use, the space
will also be occupied for security briefings on a daily basis during the actual event. Because
distribution of uniforms will be for the most part complete by the time the 99 event begins, the
secondary use of the space for security briefings will not interfere with allocation of uniforms.
If you have any questions about the use of this space during the 99s, please let me know.
PAB/aw
L~ RECYCLEDPAPER
io, X C i + C,
r- d~
DR 614-06ZITC UR REC~f A! ~
B
,
~
I92TIGING AuGUST 26, 1 998
Rob Foad
MAyOR-TOWN OF VAIL
75 SO. FRONTAGE Rd.
vAIL, CO 8 1 6 5 7
DEAR Rob,
• I WANT TO REITERATE M)/ SUPPORT OF yOUR dECI510N REGARdING RESOLUTION
9. You, ANd THE TOWN COUNCIL, ARE dOING THE RIGHT THINCa IN TRyiNG TO
ESTAbLISH HOUSING FOR LOCAL ANd SEASONAL WORI<ERS.
PLEASE CIO NOT back OFF FROM yOUR CIECISION OF JUNE 3OTHe YES, CHANGES
CAN ANd WILL bE MACIE. OTHER AITERNATIVES MAy bE MORE PROCIUCTIVE, bUT THE
bA51C5 OF )/OUR RESOLUTION MUST STANd.
IT IS ObV10U5 THAT A VER)/ VOCAL MINORIT)/ HAS SURFACEd - IN OPPOSITION TO
THE RESOLUTtON. ( CAN ONLy ASIC, AS ONE WHO PARTICIPATEd IN "THE PROCE55
RECaULARLy FOR THE LAST TWO yEARS; WHERE HAVE THESE pEOpIE bEEN UP TO NOW?
WHILE WE WORI<Ed, FLOATEd IdEAS, RESEARCHEd OPTIONS ANd CHAMPIONEd
SOLUTIONS, WHy dIdN'T THESE VOCAL FEW CARE ENOUGH TO PARTICIPATE? THE
DROCFSS HAS bFEN TOTALLV OPEN. _
IF y0U WILL REVIEW THE CONSENSUS ANd GOALS FROM VAIL TOMORROW IT
bECOMES IMMEdIATELY APPARENT THAT THE COURSE y0U HAVE CHOSEN, THOUGH
CONTROVERSIAL, IS WHAT THIS COMMUNITy dE51RE5.
P[EASE REAd THE ENCLOSEd LETTER WHICH HAS bEEN publisHEd Ild SEVERAL OF
THE [OCAL PAPERS. IT ACCURATELY dEPICTS yOUR CIECISION. THE PROCE55, ANCI THE
RESU[TANT bENEFITS TO THE COMMUNITY.
SINCERELY,
l
Dennis )ones/2864-D Snowberry Dr./Vail, CO/81657
970/390-9749/email: dennisj@csn.net
~
DEAR COUNGL MEMbER,
i
I WANT TO CONQRATULATE THE VAIL TOWN COUNCiL FOR TAI<ING THE FIRST
bold STEP TOWARdS MITICaATING VAIL'S MOST PRESSINQ PRObLEM, ATTAINAbLE ,
HOUSING. DESPITE THE M151NFORMATION ANd MISUNdERSTANdINCa MACIE ObVI0U5
dURINQ THE RECENT TOWN COUNCIL MEETING, THE COUNCIL ACTEd WITH A CLEAR -
MANCIATE FROM THE COMMUNITY.
~ THROUCaH THE 2 yEAR VAIL TOMORROW PROCE55, COMMUNITy SURVEyS,
THE LIONSHEACj MASTER PLAN PROCE55, THE ELECTION OF THIS COUNCiI ANd THE
COMMON CROUNd PROCE55, IT IS EVIdENT TO ANyONE WITH AN OPEN MINd THAT
HOUSING IS THE PRIMARv CONCERN OF THIS COMMUNITy.
ANd HOW COUld THE PROCESS HAVE bEEN MORE OPEN? TiiE TOWN HAS
PUT FORTH IdEAS ANd ASICEd FOR INPUT FROM THE COMMUNITy. AT EVER)/ STACaE
COMMUNIT)/ INVOLVEMENT WAS SOUGHT, ENCOURAGEd ANd (JRACTICAlly bEGCaEd
FOR.
THAT THE TOWN IS LISTENINCa IS APPARENT IN THE CHANGES THAT HAVE
bEEN MAdE ANd WILL CONTINUE TO bE MAdE IN THE PLAN.
FOR THOSE CHOOSING TO ACIOPT A"LIMIJAUGHESqUE" ATTITUdE IN FEELING
THAT GOVERNMENT IS UNRESPONSIVE ANd RUNNING ROUGHSHOCj OVER PROCE55,
ALl THAT CAN bE SAId i5 THAT THIS PLAN WAS A CULMINA710N OF SEVERAI YEARS
OF OPEN MEETINGS aNd public INPUT AS WELL AS FUlLy 3 5 YEARS OF NEGLECT_
Did you I<NOW THA7 THE UNITS OF THE FiRST PROJECT IN VAIt INTENdEd
FOR EMPIOyEE HOUSING, bUIlT IN 1 962, WERE INSTEAd sold by THE
- dEVELOPER. THIS WAS CIONE bECAUSE HE COULd MA{CE MORE MONEy FROM THEIR
' SAIE THAN FROM THE REIVT. TFifNGS HAVE HARdLy CHANQECi.
ALMOST EVERyONE WHO SPOI<E AT THE COUNCII MEETING ON JUNE ZiOTH
CiTEd THE NEEd FOR HOUSINCa. ObJECTIONS TO THE PLAN WERE VARIEd bUT RAN "
ALONG THE [INES OF; TOO MUCH dEN51Ty IN CERTAIN NEICHbORHOOdS, (WHICH
Tt-:E TCWN IS AddRE551NG), THE USE OF OPEti SPACE, (NO LANd CIEdICATEd AS
OPEN SPACE WIlL bE USEd), FUNdINCa SOURCES (AN INNOVATIVE COMbINATION OF
SOURCES WILI bE UTILIZEd), ANd CaROWTH.
SOME OF THE MOST VOCIFEROUS OPPOSITION COMES FROM A QROUP
supposEdly REPRESENTINQ My NEIGHbORHOOd. AS WITH ANOTHER NEIGHbOR
WHO SPOI<E AT THE MEETING, I HAVE NOT bEEN APPROACHEd b)/ THIS SELF-
APPOINTEd "NEICiHbORHOOd LEAdER", NOR HAVE A NUMIJER OF PEOPLE FROM M)/
AREA WITH WHOM I HAVE SPOI<EN. HE CERTAINly dOES NOT SPEAIC FOR ME.
WHAT IS CURIOUS IS THAT THIS PERSON, WHO HAPPEIVS TO LIVE iVEXT dOOR
TO THE PROPOSEd 1.3 ACRE INTERMOUNTAIN PARCEI WHICH IS ACRO55 THE
STREET FROM, NOT paaT OF, STEVENS Paak, IS THE ONE WHO WOULd bENEFIT
MOST by IT bEING [EFT VACANT. AGAIN, SELF-INTEREST REARS IT'S UGI)/ HEAd. -
2
WE MUST RISE AbOVE PETTy SELF-INTEREST ANd CIO WHAT IS RIGHT FOR THE ,
COMMUNITy. OWNER-occupiEd dEEd RESTRICTEd HOUSING NEEdS TO bE placEd
IN EVERy NEIC,HbORHOOd_ THAT IS ONE dE51RE MAdE CIEAR by THESE COMMUNITy
PROCESSES.
FURTHERMORE, THIS ISN'T )UST A P(AN ALLOWING THE TOWN TO FACILITATE
HOUSING, IT PROVICIES FOR AddITtONAI dECIICATECI OPEN SPACE, COMMUNITy
FACII.ITIES aNd 4 MORE PARI<S. WITH THE 1 1 O MORE ACRES IN THE PLAN,
C1EdICATEd OPEN SPACE WIL[ hE INCREASEd by 29% bRINGING THE TOTAI OF
CIEdICATEd OPEN SPACE ANd PARI<5 TO OVER 900 ACRES LUS 1
TRAILS. AtMOST ZIO% OF THE VAILEy! P 6 MILES OF
AT THE SAME TIME ONty 1 9 SCATTEREd ACRES OF TOWN OWNEd VACANT
tANd WIl( bE UTIIIZEd TO HEL(J SOLVE A CRI515 3 5 yEARS W THE MAICINQ. FOR
THOSE CRyINQ AIJQUT "PAVINCi OVER PARAdISE", THIS IS 1/2 OF I % OF THE
VAHEy FIOORII
DOWNRIGHT MISINFORMATION IS bEINC, dISSEMINATEd bY A VOCAI FEW.
SOME SECONd HOME OWNERS HAVE bEEN SENT MATERIAL lEAdINC, THEM TO
bE[IEVE THAT REZONINQ HAS AIREAdy TAICEN P(ACE, (UNTRUE), THAT bARRACI<5
STyLE HOUSINCi IS P(ANNEd, (ARCHITECTURAL SENSITIVITy IS A()RIMAR
COMPONENT OF THE P(AN), ANd THAT 1 OO% SITE COVERAC,E AS WE ( AS ZERO
SETbACI<5 WII( bE AHOWEd, (RICIICUtOUS).
THESE ARE PATENT(y FALSE, dESPERATE ATTEMPTS TO TRy ANd SUbVERT q
public PROCE55 THAT HAS HAd THE INPUT OF OVER 1 OOO OF OUR NEIC,HbORS.
• WITHOUT HOUSINQ THAT i5 ATTAINAb(E by THE AVERAC,E WORI<INQ COUPLE,
VAI('5 STATUS AS A WORtCj CLA55 RESORT, WHICH IS AIREAdy dEChNINC, fjECAUSE
OF INFERIOR SERVICE, WI(( SUFFER FURTHER_
CROWTH IS INEVITAbI.E. NOTHIN
bE dONE IS TO CHOOSE THE C' YOU CAN CIO WILl STOP IT. WHAT CAN
PATH WITH THE MOST PROMISE FOR I<EEPINQ THE
SPIRIT OF THIS COMMUNITy A(IVE.
THE TOWN COUNCIL, WITH 7HE INPUT OF THE COMMUNITy, HAS (jONE THIS.
THEy RECOGNIZE THAT A TOWN OF SECONd HOME OWNERS, A TOWN WITHOUT
LIGHTS IN IT'S WINdOWS IS NO COMMUNITy AT AIL. 3
THE PROCE55 IS NOT OVER. INPUT FROM THE COMMUNITy ANd THE
EFFECTEd NElQHbORHOOdS WI(I CONTINUE TO bE SOUCiHT AS THE PtAN MOVES
FORWARd_ DO WHAT IS RIQHT. SUPPORT OUR EIECTEd OFFICIALS AS THEy Ry TO
GRAPP(E wITy THIS VERy CIIFFICUtT ISSUE.
DENNIS )ONES
INTERMOUNTAIN
PROFILES IN DATA 13035735275047 08/29 '98 19:17 N0.230 01l01
THF C'Oi..URADO INTFRM()UN'rAIN FIXED
GUIDEWAY AUTHOYti"i"Y
I'URLIC HEARING?S
3:00-4:3{} P.M., THURSDAY, St;PTEMBER 3,1998
iDAHO SPKiNGS CITY CUUNClL GHAMBERS
1711 MiN LR S1'REE7', iDAHQ SYRiNGS
7::30-9:00 P.M., TNURSDAY, SEPTEMBCR 3, 1998
FRiSCU COMMUNiTY CFNTCR
110 THtRD ST_ (1/2 BLOCK S. of MATN), FRISCn
nr,ENnA
~131.IC C'C)MMf~NT Wrr,i. BT~. ACCr4'`I'ED RY'i'fiL'l'ECi-1NICALCnMM(TI'EC C)N
(1FGA'S DRAFi' D~ ~("=iJM1:NT*:
"NF.EDS S'TATEMF.NT AND FRF_LIMJNARY PF_RFnRMANCE SFF.CIFIC.ATIDNS
FOR A RAPIi) TRAN.SIT SYSTEll9 SERVINC TIIF. CULOR/tD01-7tI CORRlDnR
WEST FRUM I)ENVER T() THE l:AGLE COUN7'Y AIRPORT"
*Cvpies qf this rPpurl rrrrn- be aht(iined hv cRlling 1-888-695-0829
*********~~****~*****r******~*
Pi)BLIC/(=UVFRNMENT ATh'AiR5 COMMiTTEF MEFTINC
4:(X)-6:(1() P.M., MONDAY, AlfGi15T 24,1998
5UTTE 1120,1120 LINC(lLN AVENUF, DCNVER
1, Discuss `98-'99 nulrcach/C.ummunication.s Plan 8i Dudget Requirementti
Z Disc:uss Local Gavernmcnt. FinanrialSupJxort Sulicitaticm Program
3. I)iscuss `9K-'" Ft'dcral/State/I..ocal Lobhying Reyuiremcnls
, • ._~1(c.' ~i~~+'~U.~(~.(- -
. • ~(r~
/
. . TO WNOF VAIL l?V~l~ ' .
• Input/Irtguu-7 Response Record .
T'ne attached com,rnents were recentIyreceiveci bythe Towrt of Val
•
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ADDR~S T'r.rSE CON ~~d we s~trive for ~~y ~a~~, p~SE
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Rc: alternataives to current plan
Subject: Re: alternataives to current plan
Date: Thu, 27 Aug 1998 17:47:18 -0600
From: Suzanne Silverthorn <ssilver@vail.net>
Organization: Town of Vail -
To: kbenysh@vail.net
Kathryn: Sounds like a reasonable approach. I'll forward your idea ~
directly to the council!
Suzanne
Kathryn Benysh wrote:
> As a gesture of good wi11 towards the citizens of Vai1, particularly
> those of us who are neutral or minimally impacted by the current
> employee housing proposal, how about building the first "for purchase"
> units on land that the TOV owns that was NOT purchased with RETT monies?
> The Timber Ridge project should be purchased by the TOV, then offered at
> cost to Ioca1 employers to recoup the money.
>
> Kathryn Benysh
1 of 1 8/27/98 5:47 PM
KL
~t7~~~~~~IVf~S--- - - - - - - - - _ _ - - - - - - - - - - - - - - - ' 0(
• ~7 ~ \ ~ ~ ~ r i 7 r fT r~ ~-p r/~ . ,f 1 ~ ~ ~ ~
C.. ~ ~'.3 ~ 1~ .%Ili l l ? i'•._) ~ , ,-4
ae #19-t
~
.
ti.
qi ,,5n
new tourism funding ~
~ t F jffi s
C
Business tax assessed gled to fill the gap in tourism fund-
• :
ing, California has created a new
r:
. " ~
for advertlsing budget source of financing that will pro-
/(A~/'////~/ 90D
vide an additional $5 million for the t0.~+ Y • L
gy Er*a GonzWu state's tourism promotion budget
RockyMountain News Staf~Writer this year, '
Starting this year, every busi `Six years ago, California tourism ness in California that denves at
director .Tohn Poimiroo saw his
least 8 percent of its income from
advertising b,udget shrink from $8 tourism will contribute $450 for
:
million to $3 million. every $1 million in annual tourism
.y .
The diminished budget placed revenue toward advertising and
.
California 24th nationwide, in promotion. T~le lIl(IllS~ VOteCI 18St Rocky Mountain News file photo
terms of tourism funding, at a time year to" assess the tax, and Since voters rejected a tax for tourism promotion in 1993, state
when the state.was already losing Poimiroo says; the contributions officials are looking to Califomia for ways to raise money.
market share to other cornpetitors: . should eventually amount to $25 .
From 1989 to 1993, Califorriia's million annually. ` sentatives and governor appoin- sessment."
share of the leisure travel market. "This will put us ahead of the tees collects the tax and oversees Fitt-Peaster_said a similar effort
dropped by 17 percent. pack," said Poimiroo, who shared spending. Businesses that refuse in Colorado likely would have to
"We 'needed to do something," his story Thursday in Boulder with to pay are given a 45-day notice include businesses that generate
said Poimiroo, director of tourism board members from-the Colorado and are assessed hefty fees after less than $l million in tourism rev-
far the California Trade & Com- Travel and Tourism Authority. 70 days. enue because so many tourism-
merce Agency. "We were going up, California's legislature has guar- Local tourism officials are hope- oriented companies tend to be
and down like a mller coaster." anteed $7.5 million for tourism fu1 that something similar can be small firms.
For Colorado tourism officials funding as long as the industry crafted in Colorado. Calorado's tourism industry
Poimiroo's story is familiar. In continues to contribute its fair "I think a public/private part- would also have to fin'd a way to
1993, voters opted against renew- share. The new tax along with nership is what's going to work," finance a campaign to pass the ini-
ing a state tax on lodging, restau- state-supported dollars will move said Jenny Fitt-Peaster, a spokes- tiative - an -expensrve endeavor,
rants, rental cars and lift tickets California into the 12th spot na- woman for the Colorado agency for according to Poimiroo, who said
that raised about $12 million annu- tionwide for tourism funding. campgrounds, cabins and lodges. C a 1 i f orn i a b u s i n e s s e s s p e n t
ally for tourism promotion. A 36-member commission made "It has to be a combination of gen- $250,000 campaigning for the new
But while Colorado has strug- up of elected industry repre- eral funds and a private as- tax.
SALES TAX RECEIPTS LASTUPDATE 1 i-Aug-98 VAIL y, q
S P E N 9' a S T E A M B O A T % B R E C K E N• Yo FRISCO Yo AVON Yo CRESTED % MTCRESTED % DILLON % i
SPRINGS RIDGE
SELF INC SELF INC. SELF INC. SELF INC. STATE INC. SELF INC. STATE INC. ELFE INC. STATE INC. BUTTE
(a%) . . .(1 . .7%) (aq) (a%) (2%) _ (a%) (aio)
(a%) (4%)
RY 1997
2,052,569 6.03'a 706,880 4.1% 1,219,831 11.8% 1,038,074 4.4Ya 195,212 242% 377,597 13.7% 125,363 222Yo 192,402 4.7% 54,405 5.8%
FEBRUARY1997 2,089,673 4.8Y. 727,418 4.0% 1,261,490 6.1% 1,106,575 1.5% 204,647 12.6% 362,517 10.9Ye 125,557 4.1% 207,709 •1.4% 69,163 62%
MARCH 1997 2,580,992 15.2Ye 853,640 13.9% 1,562,114 9.7% 1,482,333 72% 277,501 24.5% 468,676 14.9% 152,255 82% 265,419 -1.7% 92,854 •2.3%
APRIL 1997 874,427 -9.6 Y. 310,501 •5.5% 579,050 10.5Yo 566,038 •7.9Ya 159,214 34.9Ya 265,356 4.990 88,047 26.2Ya 84,986 24.3% 45,609 25.5%
MAY 1997 329,783 3.4 Y. 199,405 •1.3% 448,491 6.4%
JUNE 1997 630,366 6.Os'a 404,320 6.8% &53,333 5.8% 421671 0~ 129,997 10.49', 241,013 8.5Yo 49,308 1.5Ya 14,525 3.890 31,696 -9.35'a
JULY1997 1,043,637 8.3fb 617,619 11.3% 835,532 15.7°6 523,481 •13.9~. 313,117 5.0% 100,371 9.8% 32,054 16.7Ya 42,436 29.9'.
AUGUST 1997 1,073,430 8.4 ?0 612,989 9.6% 869,539 13.8% 584,009 •42% 353,102 5.4% 180,044 19.490 67,021 7.5% 54,084 15.5Ya
SEPTEMBER1997 637,831 12'ia 311,543 10.9No 743,510 3.0% 562,224 26.3% 338,134 42Ne 164,728 2.5% 56,091 52Yo 53,438 10.8%
OCT08ER 1997 472,836 14.3' e 268,799 •7.8% 558,375 12.5% 297,895 •4.6Yo 319,411 5.6% 103258 -4.5% 35,775 -2.8% 45,619 14.9%
NOVEMBER 1997 707,166 17.6'/0 275,347 15.5% 554,026 142% 489,367 16.89'. 263,686 •0.9% 86,254 23.5Y. 33,073 74.0Yo 35,441 1.0%
DECEMBER199I --•••-.2,254,709 99'0 863,882 8.4% 1,387,809 11.5% 1,057,329 5.39e 339,200 18.9% ,76,707 15.7No 70,166 49.8% 39,157 1T.3%
. . 533,904 4.9% 172,967 14.iNa ,860 17.9Yo
229,934 1.9% 79
4,747,419 7S°6 6,212,543 6.6% 10,673,160 10.1% 8,484,281 42% 966,571
4,175,713 8.1% 1,424,859 112% - 1,289,161 5.8% 643,762 9.8Yo
ANUARY 1998
.
2,112,628 2.996 749,069 6.0% 1,312,173 7.6°Yo 0•100.0% 379,424 0.5% 130,711 4.3% 243,972 26.8% 69,141 27.1%
FE6RUARY1998 2,149,900 2.9°0 745,172 2.4% 1,306,150 3.5%
MARCH 1998 2,360,440 -8.51 0 888,699 4.1 % 1,566,886 0.3Ya 318,112 4.3% 147,761 17J9o 237,996 14.69a 83,575 20.8%
APRIL 1999 1,103,831 2621S 346,026 11.4% 622,193 7.5Yo 460,192 •1.8% 149,364 -1.9% 280,560 5.7% 89,859 •32Y
MAY1998 379,333 15.01, 219,567 tOJYa 497,935 11.0% 310,198 16.9% 87,019 •1.2Ye
JUNE 1998 592,311 •6.09> 425,005 5.1Yo 249,080 3.3% 51,384 4.2% 85,812 88.1%
JULY 1998 337,562 7,8% 64,316 102.9%
AUGUST 1998
SEPTEMBER1998
OCTOBER 1996
N04EMBER 1998
DECEMBER 1996
8, 698,443 3.373,538 5,305,337 • -
2,114,568 566239 762,528 392,703
" Dec . 96 is EsAmated, Juty 1990 Agpen imposed an sdditional .45'Y, yales tax dedicated for affordable employee housing
" 111l93 Glenwood Springs saies tax rate increased 25 ?o to 3.009'a,111/96 Glenwood sales tax increased from 3.00% to 325%
" 1/1/95 Telludde sales tax rate increased.509'a to 4.5%
° 111/96 Eagle Counry sales tax rate increased (rom 1.0'4 . to 1.59'e fa Vansportaqon and bike paths
" MinNm is repoNng ary and iheir counry porbon
NOV,52•APRIL531NOV.'93-APRIL'94 3.59'e 62Ye
MAY'93•OCT.'93/MAY'94-OCT.'94 12.Jye 4.8% 10.5% 9.39e 7.0% T.gye
8.7°s 72Ya 11.3% 15.3Yo 15.8% 7.3% 13.99'e
18.3% 10.1% 15.89:
NOV.'93•APRILS4/NOV.'94-APRIL'95 0.49'a 3.3%
MAY'94•OCT.'94/MAY'95-OCT.'95 0.89e 2.5% 2.8Ye 9.7% 12.8Yo 52%
•1.7% 3.8% 11.3Ye 5.89e 7.8Ye •2.Oy0 •1.7%
'i.60/a 5.1% 192%
NOV.54•APRIL'95MOV.'95-APRIL'96 5.6% 2.5Y.
MAY'95-OCT.'951MAY'96-OCT.56 3.4Ye 2.8Yo 102Yo 2.4Ye 7.9% 0.7%
7.3% 5.5% 8.9% 7.396 14.2Yo 1.7No 29.5Ye
NOV.S5-APRIL56iNOV.'96-APRIL'97 4.8°G -0.196 24.99:
MAY'96-OCT.561MAY'97•OCT.'97 5.4% 6.6% B.tY. 2.695 19.819
7.0% 6.09: 10.0Y. 4.1 12.0% 8.0% 1.694
•86.6Ye 4.6Ya 6.6% 5.l Ye
nav.~ss-npr's7Mav.'97•Apr'98 4.1% 12.0x 10.6x
ss% s.sy.
5.8% T.g•b
232%
TELLURIDE % SILVERTHORNE 9. SNOWMASS Ye EAGLE COUNTY % MINTURN % DURANGO % ESTES PARK % GLENWOOD % BEAVER CREEK Y.
STATE INC. SELF INC. SELF INC. STATE INC. STATE INC. SEIF INC. STATE INC. SILFS INC RESORFCO 'NC
..(asv) (avo) (1 i) ..(isvo) ..(aq) .
(2%) (4°~)
- "(325%) (5%)
•
JMIUARY1997 306,859 27.3% 493,644 29.8% 203,705 16.9% 864,461 •6.8% 32,658 7.1% 312,019 •2.8°0 173,414 6.5% 512,374 27% ~978,372 14.5Ya
FEBRUARY1997 336,329 -6.6Y 474,238 62% 206,430 1.5% 846,767 -1.6Ya 38,190 0.7% 371,082 3.1Yo 214,301 24,3% 510,809 1.9% 1,045,953 8.79'o
MARCH 1991 388,087 1.5'Yo 690,645 17.3% 245,657 14.49'e 1215,547 41.3% 46,141 •192Yo 502,114 4.0% 227,601 12Yo 650,908 3.1% 1,351,489 15.5%
APRIL 1997 147,268 10.1'Yo 383,317 2.6% 50,753 -8.4% 503,719 10.8% 22,302 •17.7°10 392,992 2.3% 205,841 5.79'0 547,528 0.19'0 289,870 $.9Ye
MAY1997 109,514 9.4% 339,096 8.3% 15,849 28.79'0 328,023 52Y. 21,577 7.79'0
JUNE1997 276,991 17.5% 457,095 -2.0% 42,656 11.0% 482,428 12.6% 28,069 33.SYo 23,283 -0.3% 580,2(10 1.8% 6354,860 34% 19,709 103%
JULY1997 271,208 -32i'o 566,108 9.3% 66,812 19.9Ye 630,002 10.8Yo 34,420 -8.1Yo 601,054 2.190 785,123 5.7% 716,954 4.4Yo 309,856 14.39/6
AUGUST1997 303,103 11.0Yo 594,787 8.0Yo 63,152 •0.09'e 668,957 14.3% 34,495 -2.890 577,792 -02% 815,371 6.7% 717,655 .0,1% 329,591 1.6%
SEPTEMBEfl 1997 252J92 •2.01% 491,189 9.0% 42,172 46.7% 585,882 21.5% 24,685 -92% 657,814 4.19a 553,988 •2.5% 751,574 1,89e 195,998 15.39'e
OCTOBER 1997 129,443 5.8W, 388,052 9.lYo 20,418 53.4Ye 433,994 15.2% 23221 29.4Y. 489,324 8.1% 315,579 0.99'< 653,432 5.0% 82,488 29.5%
NOVEMBER 1997 126,681 5.4i'o 463,620 25.6% 26,174 41.7Yo 438,902 10.4% 20,671 -14.3Yo 406,006 3.3% `264,411 9.69'0 601,381 14% 185,217 19.9%
DECEMBER 1997 376,304 12.5Yo 686,213 142% 167,813 20.8% 1,099,066 11.5'S'o 23,202 •43.4% 678,238 5.5% 269,387 5.0Yo 876,904 5.39'e 1,089,966 16.6Ye
7.3y0 6,028,004 11.4% 1,151,651 132% 8,097,808 11.9Yo 349,631 -72% 6,120,189 22% 4,787,251 4.7% 7,931,415 3.1% 6,106,670 1179'a
JANUAAY1998 396,815 293'?0 520,053 5.3% 197,380 •3.1Y 925,083 7.0% 36,436 11.6Ya 420,435 13.0% 221,731 27.9% 538,104 5.0% 1,092,063 11.69'a
FEBRUARY 1996 406,323 20.814 o 514,600 8.5% 231,766 12.3% 983,915 16.2% 30,156 •21.0% 400,865 8.0% 216,038 0.8Yo 532,423 42% 1,059,182 1.3%
MARCH 1998 378,212 •2.5"40 579,556 -16.1% 1,014,772 -16.5% 36,870 -20.1% 520,512 3.7% 272203 19.6% 658,828 12N< 1,470,032 8.8%
APRIL1998 204,948 39.2'40 413,588 7.9% 720,530 43.0% 34,082 52.8% 420,691 7.0% 264,186 28.3% 591,208 6.0% 403,090 39.1%
MAY1998 121,735 112'/e 311,683 -8.1% 367,044 11.9% 29,533 36.9Yo 488,274 8.9% 374,411 3.4% 657,682 32% 58,308 162Ya
JUNE 1998 310,344 12.0'6
JULY 1998 677,518 8.7% 785,418 4.0%
AUGUST 1998
SEPTEMBER 1996
OCTOBER 1998
NOVEMBER1998
DECEMBER 1998
, , 2,339,480 429,146 4,011,344 167,077 2,928295 1,348,569 3,763,663 4,082,675
- - - - - - - - - - - - -
" Dec. 96 is Esfimated, July 1990 Aapen imposed an ridditional .459'e sales tax dedicated for atfordable employee hausing
" 1l1/93 Glenwood Springs sales tax rate inaeased 25Ya to 3.00°/a, t Iil96 Glenrnvood sales tax increased from 3.00% ta 3.25Me
••1l1/95 Telluride sales tau rate increased .Spy, tp 4.5 Y
" 1/1l96 Eagle Counry sales tat rate increased fram 111Yo to 1.5Yo far transporta0on and bike palhs
" Mntum is reporGng ciry and their counry portion.
NOV.'92•APRIL531NOV.'93•APRIL'94 12.8% 13.45'e 6.1Y. 10.1% 3.69:
MAY~3-OCT.'93lMAY'94-OCT.94 12.49~ 143Ya 16.0% 13.8Ye 16.3% 9.4's
3.0Yo 16.0% 53Ya 10.0% 11.0% 9.15'.
14.5Y.
NOV.53-APRIL'941NOV.'94APRIl'95 12.99, S.SYo -1.5% 6.5% 2.5%
MAY'94-0(,`T.94+MAY'9~SOCT.95 13.39, 8.2% 6.0% 6.8% 7.39'e
4.6Ye •0.99'e 7.8% 24.6% 52Yo 1.2% 3.99'e
7.6%
NOV.54•APRIL'9&MOV.'95-APRIL'96 -2.6% 5.64'e 2.096 102Yo 47Ye
MAY'95-OCT.'95+MAY'96-OCT.'96 11.4y, 5.6% 4.5% 12.5% -13.094 5.9~° -2.4% 8.4% 10.3Yo
1.99'. 5.7Ye 122% -1.59L
NOV. '9SAPRILtiJ6vNOV.'9~' ApRIL'97 8.09i 10.396 929% 929/6 •2.69'e
MAY'96-OCT.'96AdAY'97•OCT.57 5.8% 6.9Ya 18.6Ye 13.7% 4.6Ya 2.lYe 72% 4.9% 8.9%
2.4% 3.4% 3.15'e 8.9%
Nov. '96'Apr97/Nov.'97•Apr '98 157% 5.5% 7.lYo -112%
6.59'. 142Y 4.5% 11.59G
± A` .MJL%0VL,&
seeks...,"S. Proposed tax
~
' Lindemann initiallY P~P~ed a
M0~~ tax on new development. Sev~al
communities in California, inctnd-
J ing Escondido, Lfls "geles and
OanaM, assess private developers
a fee, which is used for public art.
for With Aurora's building boom
the citq could gain hundreds of
thunsands of dollars for public art,
XC~ ' Lindemann said.
By Cindy 8rovsky
Denver Post Staff ~ But Councilmen John parosge '
. Writer and Bob I,e(,gre, who serve on the
AURORA - Aurora's ar -in- city's 5nance cotnmittee vqith I,~_
public places program needs a demann, quickly shot down a new
shot in the arm, and council mem- ~ tax on private developers. Instead,
bei's are eYeing the citys:5.5 mil-0 they suggested the city consider
lion use tax fund to pay for more setting aside a portion of the use
artwork. tax fund for public art. ~
The use tax is collected on con- "It's a Pretty good time to look
struction items and new business at that fund because our (taa) boat
e9uipment. That mnney now gces , is riding in high water right now,"
to capital improvement prolects, Paroske said. "This is a tax that
such as proPertY' ac9uisition, new ~ developers already are paping It's
parks or large street projects. But just a matter of how that money
Councilwoman Ingrid Lindemann will be used."
.says a portfon of that money couid The city's 3.75 percent use tax is
be used to beautify the"city• chai'ged on items purchased out-
"Artwork doesn't come cheap," ~ side of the city but used in Aurora.
J~-"-demann said. "We need to look For egample, if a construction
at different ways to get more fund-company buys lumber in Denver,
ing for the art projects." no tax is charged ttie~.e but it is as-
In 1994; the council apprnveQ an sessed in Aurora.
ordinance that requires 1 percent ~ The same is true for businesses
of all public building or recreation that purchase new equipment out-
construction costs to be reseryed side of Aurora. If a compnter is
for art. The fund - which has: bought in Aryada, the tax would go
about ;200,000 - paid for Ameri_ to Aurora.
can Indian sculptures at Saddle ' The council probably will re-
Rocg Go1f Course and indoor wo- view the proposal in October.
I,in_
ven wall hangings placed in the demann hopes new funding for ~courses clubhouse last summer. arts projects can be found in the
'
A life-size sculpture of a fire- ~ 1999 budget.
fighter will be installed at Fite
•'I think this is the time to tnrn
Station 2 this year, ~ up the volume a little bit on this
City officials said abo¢t~ PrOgram," she said. "We need art
$100,000 has been spent on severai : ~ wtlrk all over the citpbut espe.
art projects, including Saddle £ fhn n~r•bo
Rock, wluch cost about $35,000. An
ezact figure was not available.
Lindemann said relying on #he
public pmjects to pay for. the art_
work doesn't address the city's
tteed for more art.
"There's a heightened aware-
ness that we need to get more
money in the coffers to make these
Pro]ects go forward,,, she said
r
a RECEIVE[~ Aub
"`7 DOLORES BUSARD and THOMAS R BUSAFZD M D
Currentlv at our
Permanent Address Northern Address Western Address
*5050 18th Avenue W *20051 Berwyck, Unit A-9 *Box 2240
*Bradenton *Spring Lake *Vail
*Florida 34209-5148 *Michigan 49456 *Colorado 81658-2240
*(941) 792-4324 *(616) 846-2181 *(974) 476-4308
My Ref: TOV--H25 August 25, 1998
Town Manager Robert W. McLaurin
Town of Vail
75 South Frontage Road
Vail, Colorado 81657-9932 •
Dear Mr. McLaurin Re: Conversion of Park Space
As you know from my previous correspondence with you, I am opposed to
any form of TOV ownership or subsidization of so-called public housing.
I feel it is not only an inappropriate use of public funds, but also
counter productive to boot. But at least it is legal.
But to convert land that has been set aside for park or open space use
to any form of subsidized housing is even worse than inappropriate. It
is a breach of contract with the public trust.
Open space and park designated land was purchased or acquired for one
purpose. Now some people propose to break that trust by planning to
convert such land to other purposes.
And when that land to be converted is located under my nose in an area
where I live several months of the year is, for me, like pouring salt
into an open wound.
I oppose all efforts to convert any part of Stephen's Park desiqnated
land to any form of use other than open space or park land, as was the
original promise for that land._
A zoning ordinance is a contract between a government and the property
owners of any,given area. Any change in any contract, including a
zoning change, should be agreed to by all the parties of the contract.
In this case, one of the parties is made up of the surrounding propetty
owners, who should have veto power over any zoning changes.
And for the area in question, I, as one o£ the owners and one of the
members of a party to the contract, do not agree to the praposed change
to aliow any kind of housing on the Stephe ~'s Park designated land.
Very truly yours,
Thomas R. Busard, M.D.
C
Mansfield's troopers' monument (built 1880) commemorates the three
troopers who died in the pursuit of the Kelly gang at Stringybark Creek.
lt is an attractive centrepiece lor this North-east Victorian Town. .
• 0
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45A ISSACS AVE, VACKANDANDAH; 3749. (060) 377 (1'RINTED IN AUSTRALIA ON PLANTATION GROWN POST OFFICE ~
~ iTIMBER. SUITABLE FOR RECYCLING. PREFERRED '
POSTCA~~ PHjTO~GRAQ~~~i COPYRIGy~
,
~J?'~ ~t~i...
~~~~If~~CI m
~ Pnodle I•harn,~,, P. O. BOX 729, GRAND JUNCTION, CO 89502 (870) 244-1074
PAX (970) 256-0941
JaHN L. CAI.DWEI.L, QIRECTOR, REAL ESTATE
August 31, 1998
TRANSMI'1"TEU ViA FAx TQ (970) 479-2157;
Robert McLaurin, Town Manager
Town of Vail
75 South Frontage Raad
Vaii, Colorado 81857
Re: The Resource Center as operator of the Vail Commons Day Care Center
Dear Bob:
In follow up to our telephone conversation this date, attached is a copy of the
letter { received from R4b Nebgen at the Resource Center. in a subsequent telephone
conversation with Rob, he told me he is seeking $50,000 from the Town,'/x in grant
form and %s as a start-up Ioan.
Once again, it is not our intent to interfiere with either tha 1'own's evaluation of
this matter, or Mr. Nebgen's efforts to put this program together. We are contacting
Bright Harizons to determine whether it will contribute the equipment and fixtures as Mr.
Nebgen requests. Qur concern is that other prospective operators (although, perhaps
none as qualified as the Resource Center) are being neglected while we work on this,
and we hope we're not placing our efforts in suppart of an operator who stands littfe
chance of successfully meeting its requirements to be the Vail Commons Day Care
Center operator.
Thus, it would be helpfuf if you could giva us some indication of whether the
Town is likely to provide the &upport requested by Mr. Nebgen. ! should mention that
the Resource Center iS very concerned that its interest in this fac+lity be kept
confidential until it decides whether to proceed, Thank you for your attention to this
matter.
ryt y yours,
John L. Caldwell
cc: #42 day care fife
ZO' d Z00' oN SZ: 6 86 ,ti~ 9fld :QI 137121dW AlID
, AIIG Lr" ' yd 10J ~~IJ1'h4 htk.tiUIIRCE CENTER N. I
-
The Resource Cenler TPC ofi Faqke.CounIV
MdNOR/?RY bOARD Pn1M d11l4w Refat 9!~lib
avnn,cmabda61eQ0
Di. Jadc Edt 970/9~40-7U47 OflICr
910/W7007 Fvx
9efly FvM 9701949Ly006 AAb Ll*
Mn. Cnrflarxi T. FNit
44tMe larrYY1
Fwlcrd u3mm
c,at towMnthaO-veffv August 28, 1998 .
Dad+ane OdWtnchm
lynn F~
Mr. 7ohtt CWdwdli
City Makd
Grand hmction, Cn
FAX: 970-255-o4al
IJear
Ta r6teratc thc majvr poinU of out diaaueeion taday, i proOat tho fanoaieg whiah are
aacessuy tbc'The Reaauroe Canar (T'RC) to auocesaffilty, wd expediiiwal]?, rzwm the
dsy care hdlity ;n vai, canmon.
1. Sinoe ws ore a $4103, privste, aotAor-pmfit eiorpwstion, we do not luve
sccumulded cuh to expend on Rumishinp andJor fttu*oe fo* tho proposod
faeltity. it Is, chaefort, imperative tha Hdgtx HorizM apcs t4lcsvt tbe
hdlity fully fliraishei, aad teke the weite-oN ft the pnerent book vaiue of
smid propeety. TAC vHil be lWy to uiue a etatenent of danited vWlue should
this be deeirqd, sinoe oontrlbutiens of this natune are tax deduadble.
z, tt h Atso imperative to vur mcccss that we sucoasAtlly nqptiate asubnandal
&neial anauAement wwittih the Town of Vait. [ Wn th?s procae oa Monday
af next week.
3. Oar wrpt?ratn wumal ia prwtly dtWrmuuRingtho mW wpoprink corp"c
sttucturo undac which'1'KC caa opaete tWi ceater, lAMWpO het roapom
aead wedG eod watiapes no dWays m impleme"ion di?e t4 this &cw.
4. TItC will bs plessad to givo proforcntiat ooasidantion to prior uxrs ofthe
ialiiudtcnl4k &cilitica o? wti bion opdratxm. AAmtiunWty, we wil1 be
eovnng tle axpansion of me witllitt the infsqt se+ction to palltps 12, 't hid
is un~~da uudy a thia dne,
~0?, Peace on Earth 8eplns at Wome
ZO' d Z00' oN 9Z: 6 86,Z2 9(lti :QI 13N21dW J.lID
AUG 27 '98 83=30PM RESOLIRCE CENTEI2 N•k!
S. Aspiming all goes woll witll both'lttaTowtt Of VO W BrtRht HarizOn9, [
atioipste tIN op.ning of thi. Wlay amder aw amgemont, and with a new
nume, un a euoa Ittar Octobc* 1,,,1998_ -
i thank you fve your caoopamion in tWe endoAVOr aW look ffvwud to our on-goiag
coavenrtia?s.
Si
b * en
EMWive Dbector
H' d Z00' oN 9Z :6 86,U 9flb :QI 13A21dW AlID
~
Ch" ~
t ldcare tps
Created by the Childcare Resource & Referral of Eagle & Garfield Counties
A program of The Resource Ccnter of Eagle County
September and October, 1998 Volume 2, Issue S
"Peace on Earth Begins at Home "
C h i I d G rowt h a n d D ev e I o p m e n t: Remember, newborns act before they think. Their
a e B i rt h t o T h re e M o n t h s early-learning is comfort and satisfaction oriented. Babies
g have all the same language for getting fed, held, and com-
part I of a VI part segment forted- CRYING! As baby and parent/provider get used to
this cue-response way of communicating, trust is instilled in
Wondering if you are giving a child too much or the babies caregiving environment. If you want your baby to
too little stimulation? Having a difficult time knowing what have a rich mind, be sure to respond consistently. Don't
the baby needs when she is crying? These are not uncom- worry about reading each baby cue correctly the first time.
mon frustrations parents and childcare providers face Keep trying, it's all nurturing to the baby whether they stop
when caring for a new baby. Hopefully this segment will crying or not. This will result in a stronger bond.
enlighten you! (Your local R&R has been doing some As babies approach three months, they seem more
research via internet; let us know what you think!) alert, active and responsive. This is much easier for both
The first few weeks of a babies life are a piece of baby and parents/providers. Their clinched fists and tightened
cake! O Newborn babies are not progressing in the area of muscles are more relaxed. Babies can now play with their
motor development quite yet. Holding and loving are the own hands. This is when babies start grabbing everything!
essentials at this stage. When playing with a newborn you This could be called RATTLE stage. Rattle tips: * Light
may notice their limbs are very "springlike". Their body rattles and easy to grip cattles will be played with longer
wiii toosen up over the next few months, so enjoy this *Black and white or contrasting colors hold baby's attention
while it lasts! Don't worry about little crackling sounds in longer *Babies prefer the feel of fabric to plastic *No detach-
their joints, as these will disappear too. If the baby seems able or loose parts and no less than 1.5-2 inches in dimensions
to have jerky muscle movements or quivers a lot, just wrap are a safe size. tf you want to stimu(ate hand play, set the
them in a blanket. That will help to subside their tretnblinb baby in a semiupright position in your arms or a carseat.
muscles. Semiupright posture encourages arms and hands to come
In the tirst few months a baby's senses are just together,.stjmulating the baby to play witli that which is in.
begining to develop. Dim the lights! Babies are squinting front of them.
as it is, their eyelids are extra sensitive in their first month. Around this three month mark, babies should be
After all the world looks a bit blurry to a newborn. A getting accustomed to a regular sleeping and eating pattern.
distance of eight to ten inches is most clear, which is about Now real corrimunication begins. Listen to long strings of
the eye-taeye distance when breastfeeding. Babies love to "goos' and "gaas" as this is their language. Babies become
look at faces, especially familiar ones. Be sure to spend a amazed at how loud they can "screech" and the immediate
lot of time making faces! To keep a babies visual atten- attention they receive. If you greet a"screamer" with a soft
tion, sit or hold them upright, speak slowly, rhythymically voice, it is likely their voice will subside.
and exaggerated. Babies are more likely to become bored By this-stage you hopefully feel comfortable reading
with visual games when lying on their back. the baby's cues and r.esponding in a way that works. If you
Babies are selective to what they might give their feel that you and your new baby are not communicating as
attention. If they are visually stimulated with a mobile, well as you'd like, see if your nest is too cluttered or busy with
they may ignore your voice. Try again when they are not non-baby things. Talk with other new-baby parents or
focused on something else. (Same goes for a two year providers. The earlier you and your baby grow together, the
old!) The most calming sounds for newborns are womb- easier the next stages become!
like sounds. Loud, unorganized music can actually be
damaging. Classical music or softly read stories wi11 be (~formation provided by Parent Time-How Your Baby Grows: @
http//pathfinder.com/Parent TimefHealth/howgfm.html?health)
more peaceful.
I
44
Back to school... NOT6S fir
Could it be for you too?
The Colorado Mountain College is offering several courses about young
children. Classes include: Introduction to Early Childhood Profession, -
Creativity and the Young Child, Nutrition and the Young Child, Music/ We can post information you would IiKe
Movement and the Young Child. For more dc;tails, see your local CMC to share. Mai1 or call by
Schedule for Fall 1998 or call 476-4040. October 2(0, iqq8.
Early Ghildhood Goun~ii
Proposed Tiered System for Child Care Home Providers If you care about Kids, you won"t want to
miss this meeting of the early childhood
The Division of Child Care is once again asking for provider input on the minds! Thursday, September io from
proposed tiered system for licensing. It includes four tiers with several (,-gpM at the new Family Learning
options under each tier. For a copy of the proposed changes, call The Gcnter in Edwards!
Childcare Resource & Referral at 949-7097. Comments are due to the
Division of Child Care until the end of September. Whether you are in Ghild Find '5creenings
favor of the changes or not, be sure to let your voice be known! The The Ea9le Gounty 5chool District and
decision will go to the board before the end of the year. If passed, £agle Gounty Nursing Services, offers
changes wiil be in effect by Spring 1999. free developmental screenin9s for any
~ child birth to five years. Vision, hearing,
PARENTS!!? physicat and developmental screenings
~ are held monthly from 8:30 to 12:00 RM
If you would like to reeeive our bi-monthly at alternate ends of the valley.
newsletter on a regular basis, call Ulana at Call Sharon Thompson at s45-5999 to
maKe an appointment:
949-7097 to stay on our inailing list! September 24, lqRs Avon
wwww wwwwwwwwwwwwww~:;wwwwwww *
~ Halloween Safety Tips ~ Pre-Licensing Trainin9
Two-part dasses offered free of ~harge
Wear light colored costumes to be visible in the dark. ~ to all potential child care providers:
Add reflectors to your costume. ~ October 30 fir 31 in Garfield Gounty
Make sure costumes aren't too long (to,avoid tripping). ~ please call Dana Damm at T'to/q45-1121
Use makeup or facepaints (no masks).
Use non-toxic and hypoallergenic facepaints.
5ecure hats (to keep out of eyes).
Carry a flashlight. GVR fir Firsfi Aed
Make sure all costume accessaries are safe and itexible (rio sharp or pointy The, Avon Fire DeQartment is offering
w edges). W free dasses on Monday and Wednesdays
u Walk on the sidewalk and cross only at corners. ptease contact Lin Rogers at 148-40~8
w Trick or treat only in familiar areas.
w Walk do not run.
w Keep costumes away from pumpkins lit with candles. w *
u Go with Mom or Dad or a Buddy (never go alone). w 6agle GountY Famill
Never go into a home or apartment building without an adult. w Day Gare Assoeiation w Only trick or treat houses with outdoor lights on.
I~A Never get into a stranger's car. September 9th meeting will taKe place at
C,, Set a specific time for children to be home. AA; the eagle Gounty $uilding at to:3o. The
Give children money to phone home if needed. ;A; WorKshoQ topic will be legal issues sur-
M; Thoroughly check all candy and discard any questionable pieces rounding childcare.
(many police agencies offer free x-raying of candy on Halloween). For details about the October 14th
meetiny, please contact Marcia
M. c:;; Varmenter at 524-*7442
Ellie coon"
qw-
EAGIE 1IALLEY FAMIIY CENTER invites you to join the OUR YISION: Opportunity for peaple that care about young children_to
oily CRILONOOI COUJIli
~ meet a few fimes a year, network, share resources and create new
opportunities.
IMMEDIATE PROJECT: Expiore the possi6ility of a mobile van that could
bring a toy lending library, playgroups, parent and provider training and more
right to your neighborhood or business.
FIRST MEEtING: Thursday, September 10,1998
6:00-8:00 p.m.
Family learning Center in Edwards (Nwy. 6)
Dinner provided!!! Chiidcare on site(call fo reserve)!!
INVITE ANYONE YOU KNUW THAT CARES ABOUT YUUNG CHIIDREN
DID YOU KNOW..... '
? The 6ypsum Library has an infanf-toddier toy lending (ibrary. Check out fun toysl
? Eag(e County learning Cluster grant provides lots of training oPportunities for parents and for
providers of young children and is looking for suggestions for next year's grant
? There is a child care assistance program that he(ps working families pay for quality child care -
0 You can gef money to pay far a substitute while you attend training
? Child care providers can sign up for a food program and get reimbursed for their food costs
? An early childhood specialist can come to child care provider's home or center to provide ideas
on deve(opmentally appropriate activities. It's free and the provider gets training credit!i
? 6rants up to $1000.00 are available for any Eagle county chi(d care provider for program
needs or improvements (i.e. equipment, materials, p(ayground toys, etc.)
FOR MORE INFORMATION, CAII : 949-7097
Bripg and share any informatioli you have o/i a#y resource for youo
y childrep
4M
i
c~ ~sr
The Resource Center
Childcare Resource & Referral
P.O.Box2558
Avon, CO HI GZO MAtLED FRQM 21P Ct}DE _
Attn. Town Gouncil Members
Town of Vai)
75 S. Frontage Rd.
Vai I, CO 81657
BE A PATHWAY PARTNER. . .
help make the Gardens handicap accessible
During the quiet season at Betty Ford Alpine Gardens volunteers and local stone masons will regrade and
resurface the pathways to make them accessible to chitdren and adults with physical disabilities. You can
help with this project by becoming a"Pathway Partner".
Your contribution of $10 will purchase a piece of the new pathway - your name will be written in chalk
on a piece of stone at the dedication ceremonies with President and Mrs. Ford next Spring.
Yes, I would like to become a Pathway Partner.
Enclosed is $ to purchase stones for the new pathways.
I would like the stone(s) to be inscribed as follows - PLEASE PRINT NAME (S)):
(AdditionaI names may be listed on the back)
Name Phone #
Address
Make checks payable ta Vail Alpine Garden Foundation
Mail to: Vail Alpine Garden Foundation, 183 Gore Creek Drive, Vail, CO 81658
Village Center Commercial Building Vail for juice boxes, "Dusty" the'99
VOLUNTEER PROFILES Vail Valley Festival of Flowers Mar=lott'sMountainResortatVai] ChampionshipMascot, Gore Range VOLUNTEER PROFILES
The Sitzmark Lodge Natural Science School, The Happy
Awards and Sponsors Tyrolean Restaurant Stamper, Helmut Fricker and tus alp hom,
Andrew Hillman arrived in Vail and within a Bell Tower Building "Crackers" the Clown, Mount-N-Frame,
An environment that „Love" built was how this year s Grand ChrisHania at Vail Safeway Bakery for the birthday cake, Vail
week was Prize garden was described in the Vail Valley Garden Tour visitors' Galatyn Lodge Recrea6on Departrnent and Specia] Events
pulling uide. Desi~ed' planted' and maintained by owners Mary and Dick Plaza Lodge for balloons.
weeds in The Baggage Che9ue ~
Pownall, this Rockled e Road arden has been a three-time first lace The r.od e at Vail 13th Annual Plant Sale Sponsors:
Betty Ford residential winner. Embedded in a steeply ridged bank, the Pownalls ~ willo Place
i~ Alpine have carefully orchestrated each stone, stream, waterfall, and fledgling A Secret Garden
Gardens. l~t into a floral s hon that now com rises this mature arden. Sagebrush
a p ~p Y p g Maiciott's Mountain Resort
Now
Veteran Festival Chairm en B a r b a r a D e V o e and H e l e n M c I n tyr e F E S T I V A L O F F L O W E R S T he K lein Group ~ volunteer ~rected the annual Garden Judging with the help of nine hoxticultural ' SPONSORS TheBookworm
, •
experts. Teams of judges visited all garden entries on the T'hursday SliFer Designs AridreW ' Partygoers and garden visitors gave rave lst Bank of Edwards
developed Preceding A Midsummer Night where Betty Ford presented awards to y,
r reviews for the final hvo events of the 1998
` th2 W111rieT'S lri 52VeT'11 CdtegOT12S, Vail Vall Festiva] of Flowers - our annual A Midsummer Night Patrons and 5pecial
h i s l o v e o f Y su
ardenin A new award this year, the Cindy Brennan Award for Garden Midsummer Night champagne reception PPorters:
g g Excellence was given in memorY of the former landscaper and garden wich President and Mrs. Eord (see related
by , article for Garden Judging winners) and the Shitley Beal
prize winner. Honored in Cindy s memory were homeowner Russell Ro er Behler, First Bank of Vail
ShddOWlrig first annual Vail Valley Garden Tour, co- g
Scott, and landscape designer, Andrew Henkes, for a new garden in sponsored with the Colorado Ski Museum. M. Ross & Minh N. Boyle his grand- West Vail to inspire other second homeowners to improve their Pincent & Katlileen Cook Carmany Heilman spends summers volunteering
fdtl2T'S, bOtll
ro erties. aecause of tne generosiry of a,any, many Marc & StePhanie Daniels in Betty Ford Alpine Gardens and winters
CdltfOt'ri13 p p people and organiaarions, this year's Dick & Earbara DeVce
All entrants in the Garden Judging receive complimentary garden Festival was bi er and better than ever pon & Eran Diones teaching skiing on the mountain, Her experience
farmers. An aspiring sous chef, Andrew works at and landscaping advice from the panel of horticultural experts. betore. Tt,e boa of directors and statf ot William & Joyce Donlon with the American Cancer Society in Westchester
the Grouse Mountain Grill and does private Vail A1 ine Garden Foundation offer a ve William & Adele Douglas NY where she founded two non-profit resale
T'hank you to everyone who entered their gardens and congratulations P President & Mrs. Gerald R. Ford ~
catering in his free time. Having left behind his i special °thank you" to all Festival clothin sho s
to the Best Gardens in the Vail Valley Bob & Heten Fritch g p, has been invaluable to the
30' X 60' organic vegetable garden in Atlanta, supporters for helping provide a wonderful expansion of our gift shop in the Schoolhouse.
celebration of alpine gardening for Vail Lynda Goldstein
Andrew is delighted to have found our Gardens Honor Roll of Gardens OTxER NOTEwoRTHY GARDEtvs Valley children, residents and visitors. Julian R. Hansen She has helped plant a childrens' garden by the
Waiting fOT Ilim iri Vzll. RESIDENTin[. Mr. & Mrs. S.B. Hartman Schoolhouse and hopes to add a small deck
Just
GRAND PRIZE Minh Boyle Mrs. Albert G. Hill
Ann Repetti Festival of Flowers Gold Sponsors: Bella Art & Elaine Kelton for kids" in the fall. Carmany is helping with
Helen Beckwith's entle wa nurturin Mary Pownall Riva Ristorante, Choice FM, Colorado
g ys are g Mary Ann RapP Mountain Express, xs[cE Radio, Vail valley Tom Levin plans to make the Gardens handicap accessible.
many corners o# Betty Ford Alpine Garciens. A Barbara & Kent Erickson Richard & Ka e Liebhaber
FIRST PLACE Bill & Dina MacFarlane Foundation, Vail Associates Y
master gardener and registered nurse from central Vail Residential, Large Garden - Karen Gloria )ohnson Thomas Liston Wanen Garbe is a familiar figure in Betty Ford
New erse Helen's s ecial interest has been Festival of Flowers Silvei Sponsors: The Walter & Karen Loewenstern
JY~ P and Bob Weber Sudi & Eric Berg Jack &Tammy McLaine Alpine Gardens. An engineer with Johnson,
thera eutic ardenin Wlt~t eo le who are Vail Residential, Small Garden - Steve Louise Randall Sitzmark Lodge, Waddell Designs, Inc., Inn
Bert Mochel & Jane Schmoll , Kunkel &
p g g p p at Riverwalk, Zino Ristorante, The Vail
h sicallim aired. Helen readil volunteered and Jackie Clark Deborah Tennant Nan Phitli
P Y Y P Y Daily, Eagle River Water & Sanitation ps
~ a ASSOC.
~
Down Valle Residential, Smap Garden Mara Garton Ann Re et6 ; t<_k '
to work on our planning committee to make our Y sue xauton District, Johnson & wales University, J.L. p Warren has
- C az m any e i l m an Vie le Cons truc tion Com an an d Wes t t e v e n o o s a Gardens handicap accessible. A regular garden Nanc Rondeau Vail 1.iquor Mart p Y' ged his
~a
Professional - Earthtones, eanne Y Russell T. Scott arran
volunteer, Helen also trained to be a Bloomin' J .
Nedrelow Annie Goodman Les & Maureen S hapiro
work
Guide this s rin and or anized the uides for Marie Sim
p g $ $ CommerCidl - Sonneal , Bavaria Haus Childten's Butterfl Launch Classroom pson
tz . ~
P PROFESSIONAL y 5Ch2du1C
our first annual Festival of Flowers Garden Tour. Small Business - Lionshead Miniature Sponsors and Special Supporters: Ted Smathers a
GARDENER-(OWNERS) Phil & Jane Smiley aTOUTid ti1S
Golf Lolita Higbie (Claudia Delude) Dick & Jean Swank COmmltmerit
aii k
Five Ctassrooms: lst Bank of Vail, Jane &
Condominitun, Large - Gceens at Lolita Higbie (Rick & Margaref Rogecs) Linda Tomlinson
Phillip Smiley 7tvo Classrooars; President t0 S 21id
Arrowhead Earthtones Qeanne Bailey)
& G1oTia Walker p
Mrs. GeraId D. Ford One Cl
assroom: Thursdd
. First Year Garden - Kim Burns Alpine Gardens (463 Beaver Dam Road) Ellen Waterman ~ y
EnvironntentallY FriendlY Garden - Intermountain Landscaping: Anders at Vail, Baby's Away, Jeanne Bailey, pnne Colston Wentz, M.D. ~ mornings
Kathy & Erik Borgen, Cocdillera, CurHn
Pearl TaYlar (Karen & Walter Loewenstern)
Hill Sports, Dean Johnson Management, volunteering
' < , (Kathy & E. Hal Dickson)
Inc., Adele & Bill Douglas, Eagle River MSN Special Support: ~ ln th2
(Mr. &Mrs. T.P. Hull)
CINDY BRENNAN AWARD Water & Sanitation District, East West ]ohnson k Wales University
>e"`~~",~• " w S ecial Award for Garden Excellence (Rich & 5usan Roge]) Life of the Part Gardens.
nry P ~ Resorts, Evergreen Lodge at Vail, Inc., Y
West Vail Garden (Mitch Rales) Bella Riva Ristorante AlW1 S
° (825 Holden Road) Helen & Bob Fritch, Kenny's Double y
Russell Scott, Owner Andrew Henkes, Diamond Ski Shop, Lake Creek Garden Center of Eagle Vail sm11ll1g and
Landscape Designer COMMERCIAL GARDENS Apartments, Land Title Guaratttee Bravo! Young Artists String Quartet read t0
A Secret Garden Company, Manor Vail Lodge, Prudendal y
CERTIFICATE OF SPECIAL MERIT Gore Range Properties, Maureen & Les Vail Valley Garden Tour Sponsors and perform any
Vail Interfaith Chapel S ecial Su orters Colorado Mountain
Singlettee Garden Vail Val1eY Medical Cencec Shapiro, The Chcistie Lodge, Vacation P pp tdSk, Warren
Adele Dou ]as, Owner Liz Matthews, Channel,Vai1 Cascade Club, Wamer Express. A Secret Garden, Alpine
g Arrowhead Villa e Townhomes , is overseeing
Maintenance g Develo ments, lnc. Gardens/5ilverthorne, Bravo Vail Valley
V'illage Center Condominiums p Music Festival, Christy Sports, Coors the regrading of the Garden pathways for
SPEC]AL RECOGNITION Swiss House, Sonnenalp Hote1 SPECIAL SUPPORTERS: Colorado Brewing CompanY Earthtones Lawn & handicap accessibli hen not volunteerin$ lri
W
Cordillera Valley Club House Gazden, Holl wood Services, Land Desi s
Planrings of the Town of Vail Cordillera Ranch Club House Mountain Express for student Y Bn the Gardens, Warren and his wife Laura organize
Wildflower Bed at the Lodge at Cordillera Cordillera Lod e/S a transportation, Beauty Beyond Belief for by E l lison, Min t urn Gar dens, Specia l ~e ushers for summer concerts as chairmen of the
North Berm at the Sonnenalp, Bavaria Haus Arrowhead Communi Main Entrwildflower seeds, "Beatrice" the Butterfly, Events, The Lodge at Vail, TVS, and The ' ry~ Y Camelot Hot Air Balloons, City Market of Vail Trail. BT1V0 Guild.
4 5
Land Preservation Conference Held A Global Wake-Up Call Is Sounded
With VAGF Co-Sponsorship Many Plant Species
Developers, land owners, and people participants Brad Udall, I}irector of the Eagle Around the World
`interested in land conservation attended a Valley Land Trust, land attomey Alan Beezley, Threatened b Extinction }
conference on "Alternatives in Land and landowner Dean Rossi. Y
Stewardship" on August 20 at Trail's End in Mr. Silberstein, Managing Director of
Lionshead. The conference was sponsored by Isaacson, Rosenbaum, Woods & Levy, P.C. is One in eight known plants around the
Vail Alpine Garden Foundation, Eagle Valley reeognized as one of the leading Colorado world is threatened with extinction, according
Land Trust and Colorado Coalition of Land experts in land conservation law and the = to the results of a global study announced this
Trusts. preservation of open space. He serves as , spring.
Keynote speaker, Bill Silberstein, a leading counsel to Colorado Open Lands, Great ~ The 20-year survey involved 200 countries
land attorney, presented a workshop on Outdoors Colorado, Aspen Valley Land Trust and 16 institutional organizers, including the
conservation easements, taac issues, and estate and Colorado CoaliHon of Land Trusts. He has World Conservation Union, World Wildlife
R{
planning, followed by a panel discussion with represented many landowners and other land Fund, and the Nature Conservancy. According
conservation organizations resulting in the to these agencies, this conclusion confirms their
conservation and preservation of tens of predictions of a major extinction event.
Memorials & Tributes thousands of Colorado's most beautiful acres. Media coverage of this startling news ~ The threatened
A conservation easement is a legal emphasized the role that botanic gardens play Pu le Lad s
In honor of President & Mrs. Ford's 50th wedding document which contains permanent in the attempt to protect biodiversity for future ~ y
anniversary, Mrs. Ford's SOth birthday, and President ~ Slipper orchid
restrictions on the use or development of land. generations. It is particularly important for
Ford's 85th birthday (Cypripedium
The Vau Valley Foundation A conservation easement usually limits further botanic gardens to make the general public fasciculatum) is
Anonymous development of land and, because of tax aware of the local flora to ensure its protection. among the rare
In memory of Cindy Brennan considerations, can make the difference between This can be achieved both by maintaining
Virginia Snowden P
kee in a ranch in the famil or havin to sell. collections and by educating people in lants that Srow
In memory of Robert Scott Deming p g Y g in Eagle County.
Mc & Mrs. Robert H. Deming If you were not able to attend the preserving habitat and utilizing native plant
The Deming Family & Friends conference but would like additional material in their landscapes. Illustration by
In honor of Bob Fritch's 75th Birthday information about conservation easements, call In the United States 29% of 16,000 species Jeanne R. Janish
Kathy & Bjorn Borgen Nicola Johnson, plant ecologist with Vail Alpine are at risk. In Colorado 12 plant species are on from Colorado Rare
Lynda Goldstein the Endanered S ecies List, and numerous
Deane Hall Garden Foundation, 970-328-6158, or Brad $ P Plant Field Guide.
Lucinda & Richard Kasperson Udall, Director of the Eagle Valley Land Trust, others are considered threatened.
Ken Slump 970-748-1174. As individuals there are many ways we can
JoanWhittenberg Rare Plants Found
/ Vail Alpine Garden Foundation staff help prevent further loss of plant species.
Elizabeth Robechek Habitat loss due to direct impact by activities
Nancy & Hap Young 1998 Vail Garden Tour such as building and the take-over of native By G arden Volunteer
Nicola & Danny Johnson Over three hundred and fifty people habitat by non-native aggressive plants are the Adopt-A-Rare-Plant volunteer Anne Esson has
Diane & Barry Park enjoyed six spectacular Vail gardens during the largest causes of plant loss, In Colorado been busy this summer checking up on her
In honor of her mother, Lynda Goldstein, for Mother's Day
Leslie Goldstein first Vail Garden Tour on Sunday, July 12. numerous plants are listed as "Not adopted plants-the threatened Purple Lady's
In memory of Elizabeth L. Melzer Colorado Mountain Express whisked garden recommended for gardens." A full list is Slipper Orchid (Cypripedium fasciculatum) and
Robert B. Melzer enthusiasts from house to house where they available at the Alpine Garden office, but the Northem Twayblade (Listera borealis),
In memory of Margaret Moffett en o ed seein some of Vail's best roperties. following are probably the most important in With the help of other volunteers, she has
Margie & Mark Mueller ~ Y g p
In memory of Mary Anne Bours Nimmo Bloomin' Guides from Betty Ford Alpine , our immediate area. confirmed populations on Vail Mountain and in
Elizabeth W. Bours Gardens and landscape designers greeted an area near Mintum. Her records have been
In memory oE Reginald Emery Parkman visitors at each home and elaborated on garden ~ COMMON NAME PROBLEM passed on to the Colorado Natural Heritage
Lynn & Jim Chapin features. Included on the tour were the 1997 'Program, which will use this important
In honor of Elizabeth Robechek Dame s Rocket Escapes gardens
Renee Haas & John W. Westman and 1998 grand prize winners of the Festival of displaces native plants ~formation to monitor the viability of sensitive
In memory of Fitzhugh Scott Flowers Garden Judging. plant populations.
President & Mrs. Gera(d R. Ford A special thanks to homeowners who Ox-eye Daisy Escapes gardens If you are a summer tuker and enjoy our
Mc & Mrs. Winton Blount opened their gardens for the tour: Jeanne displaces native plants Rocky Mountain wildflowers, consider
Maud B. Duke artici atin in this im ortant state-wide
Harry H. Frampton, III Bailey, Judy Berkowitz, Molly Precourt, Mary Purple Loosestrife Extremely aggressive p p g p
Oscar Tang Pownall, David Ransburg, and Ann Repetti garden plant environmental program. A training program in
In memory of Mary Hart Smith also to Garden Tour organizers Helen Beckwith, threatens wetlands the spring will prepare you to identify
James M. smith, Jr. Adele Douglas, Ann Repetti, Sandy Story and endangered and threatened plants and provide
In memory of Victor Alan Swenholt Russian Olive Esca es ardens information about known colonies in our area.
Mary & Robert Whitacre Allison Wells and, to the Colorado Ski P g
In memory of Henry Zwan Museum, who casponsored the tour with Vail displaces native plants, Want to know more? Contact Nicola Johnson
Mary Jo & Dick Froberg Alpine Garden Foundakion. especially riparian ones through the Alpine Garden office at 476-0103.
6 3
Notes-ftom the Executive Director ! L 0 K I N o G ~ Al "lw, It% - At lw J"%,
Looking Up from the Garden
Since January, I have been listening, looking next newsletter. A regular section, "Looking Ahead" features Saturday, October 24 - 9:00am - Location to be
and reading about Betty Ford Alpine Gardens Mandates from recent Board activity have upcoming events. Mark your calendars now. determined
and the Foundation (that's us) that is the VAGF Staff focusing on the development of PLTMPIQN CIRCLE Harvest Celebration
develo in t. This is what I see, when I look u a strate c o eratin lan. Of utmost Sunday, August 30 - Noon-3:OOpm
p$ i P P S P ChIldren of all ages are invited to view the
om the $arden, imPortance are these: oPerational funds MEET THE AUTHORS
award winning video, The Pumplan Circle,
Remember being a teenager? T'hat's where stabili excellence of Bet~ Ford Alpine Several authors of articles in our recent
ry~ narrated by Danny Glover, with music by
we are, about 13 years old! Growth spurts, Gardens, and programing which stems from the publication Mountain Gardening will be on hand George Winston. Wonderful for the whole
voices changing, pressures from peers, family, Gardens showing the connection between . at Betty Ford Alpine Gardens to elaborate on family.
teachers and the world. For all its gangliness, it horticulture and the environment. Clearly, this their areas of interest and sign copies of Inspired by the video, we will then create a
is also a time of enormous possiblities, establishes our direction for the near term-- Mountain Gardening. Purchase your copy of montage of pumpkin and garden veggie
Furthermore it is a space we have to go through being stable and excellent at the core of why we ~ Mountain Gardening ($4.95) and learn more
chabout mountain erennials, container aracters to be photographed before we each
to grow-now, that's a no brainer. So here we exist. p take home our creations.
are, oised to enter into the future. SavinS the best for last in these comments, gardening, wildlife in the garden, woody plants,
p We will provide the pumpkins and veggies.
Before we leap into the on-beyond, the we want to recognize Helen and Bob Fritch as and more. Refreshments. No reservations Please bring items to bring them to life.
organization will gather insights from the many our very committed Stewards of the Gardens. necessary. Rain location is the Schoolhouse. Refreshments. Please ca11476-0103 to RSVP.
people who stand for and contribute to what we With their most generous gift to the Alpine
are and are becoming. We are calling this our Rock Garden, we are able to proceed with rock September 17 ANNUAL PLANT SALE
STAKEHOLDERS Retreat, that is, a atherin of and radin work this summer. Have You seen STAY YOUNG
S g $ $ Look far ahead! Stake plants in your
those who have a stake in what we do and the earth moving equipment? By the end of the Betty Ford Alpine Gardens will host a
whom we affect. The retreat will occur late in season, the bones of the ARG will be revealed. presentation on "Creating Balance: Nutrition, garden this fall that you wish to dig up and
Hormones, and Osteos orsis." Presentation donate to the Plant Sale next spring. Fall is a
August and the core of this gathering is our The strategic plan currendy in the works will P ood time to evaluate our arden and decide
National Adviso Board. To this will be added establish our timeline be ond this summer. includes a lecture and bone density testing by g Y g
~ y nationall ized researcher/nutritionist What will need to be moved and divided.
the Board of Directors, Staff, and representative Thank you, Helen and Bob. Y recoSn
Volunteers. While this group's size begins, Jan Hamilton, Ph.D., R.D,, L.D. Free Lecture in
- Elizabeth Robechek
perhaps, to be unwieldy, the meeting will be the Gardens at 10:00am. Bone densitY testinS
professionally facilitated. If you would care to ($50) and consultations ($50) by appointment
send us a brief paragraph about what the Alpine from 11:00am-5:00pm in the Schoolhouse. Call ;
Garden Foundation is or can be that YOU stand Mountain Gardening from page 1 for more info and appointment, 970-476-0103,
behind, please know that your ideas are most age booklet is a collection of articles on ~
welcome, We are planning to have an annual p September 19 6:30 - Sharon Adamo s Home, _
meeting this fall, to report on outcomes from different aspects of high altitude horticulture, Homestead
this retreat. Outcomes will also appear in the ~'°m what trees and perennials to plant to how ~yI~MBERS' POTLUCK DIlVNER
to deal with deer and elk. Vail authors Barbara An annual celebration to recognize volunteers
: DeVoe, Helen Fritch, and Marty Jones who have given their time to promote and
~~R . ...i(~ N~~r~~~t~~ ! ! contributed articles to the publication, along maintain Betty Ford Alpine Gardens-Winter DENVER BOTANIC GARDENS
with Denver authors Rob Proctor, Panayoti Interlude, Plant Sale, Board of Directors, Garden
p~U3, ~ n~yst~~z ~s a t~xn~ak of ~e~k~!r~ki~p Kelaidis, Andrew Pierce, Lauren Springer, and Bonfils-Stanton Lecture Series
Vall ~1Ep~e~~~n~~cd~~on, ~ non~rofit~nlara~~~nt~ara~a~ ' . Workers, Bloomin' Guides, Gift Shop, A
others
Midsummer 1Vight, Garden Tour, Office 10:00 a.m. and 7:30 p.m. each lecture day in
[~~leE~ar~taffH~enF~z~~~s, ~ta~€g ~!vun~, ~i~!ca~ ~pley J~~ ' The booklet was partially funded with Support. Enjoy fabulous gourmet dishes Mitchell Hall,1005 York Street, Denver..
, grants from the 5tanley Smith Horticultural prepared by VAGF members and honor our Advance reservations available fmm (303) 370-
Trust and the Vail Valley Foundation.
* volunteers. Watch for your invitation or call the 8019.
~D~~~ ; ' Individual copies are available for $4.95 (plus , of#ice to make a reservation, 970-476-0103.
tax and shipping) fmm the Garden office (970-
September 23 - Using Species Roses In Your
476-0103), September 28 & October 1- 9:00am-Noon Garden
Special thanks go to long-time VAGF PUT THE GARDENS TO BED Presentation by William Grant, president of
member (and DBG staff) Ken Slump for editing Help prepare the gardens for another long the Board of Govemors of the University of
a ublication we can all we roud of. It is a
winter,s
~p p nap! Volunteers will cut back plants, California at Santa Cruz Aboretum, and grower
ust see (indeed, a must have)! remove annuals, rake, transplant, and mulch the of over 400 species and old roses.
The book authors will discuss their areas of beds in re aration for winter. A wonderful
gardening interest and will sign copies of p p
gathering of new friends and old to wark October 28 - The Art o f Bonsai
Moutain Gardening in Betty Ford Alpine together in this age old gardening ritual. No Presentation by David DeGroot, curator of
Gardens on Sunday, August 30 from noon to experience or appointments necessary. Weyerhaeuser Company's Pacific Rim Bonsai
3:00 p.m. (rain or shine-in the Schoolhouse in Collection near Seattle.
~1ant ~ol~z~t, Na~~a Jah~snz~; n~, case of rain).
2 7
Yc° , t C
A Wonderful Garden Internship Planning committee members have met with ADA (Americans With
Disabilities Act) officials to determine
By Jennifer Duplain keeping, judging the garden the changes needed in both grade and
compekition, meeting President and pathway materials. Excavation of the
My Garden Intemship with Betty Mrs. Ford, and attending Horticulture pathways is scheduled to begin in late
Ford Alpine Gardens is coming to a Committee Meetings. I even got to be September. Local stone masons will
close. I have become attached to this a butterfly at the Children's Butterfly be contributing their skills to lay khe
Garden and the people who keep it so Launch 30, tons of sandstone required for the
beautiful. Working in the Gardens Thank ou to Barbara DeVce and ~
has filled m life with'o and eace. y new stone pathways.
Y 1 Y P Helen McIntyre and the Garden Community members and Gardens brim over with color, scent, Volunteers for their support and businesses contributing their time and orAm texture, sound...life and optimism, patience and for sharing their resources to offset expenses include:
That these be noticed, is my wish for knowledge with me. Most of all, I Alpine Bank, David Brennan
all who come here. want to thank Elizabeth for her time, + Masonry, Inc, Johnson, Kunlcel & voLUME 12 SUTI1IT1eT • 1998 NUMBER 4
Whether a task is easy or guidance, lmowledge and the Associates, Lionshead Miniature
challenging, gardening calls far focus opporhznity to serve as the Garden Golf, and Vogelman West Associates.
on basic practical matters. Ihave Intern. Committee members include: Helen Garden Receives Environmental Award
experienced wonderful summer I would like everyone to know Beckwith, David Brennan, Jim
events and simple day to day that the Gardens have such a magical Chapin, Charlie Alexander, Carmany Education Programs and Greenstar Cited
activities. All that this public garden effect for me. I will always remember Heilman, Wanen Garbe, Kristen
gives to the community has been our time together. This experience has Knecht, Raul Martin, Steve Ricci, and The Mauri Nottingham Environmental The Environmental Award was created
given to me. reinforced my decision to choose this Helen McIntyre, Award for business was presented this year to three years ago to recognize environmental
I am so grateful for the well- profession Requests for funding the the Vail Alpine Garden Foundation for excellence in the community and named for
rounded internship I have received. I estimated $60,000 project will promoting environmental education and Mauri Nottingham, organizer of We Recycle in
want to thank the staff: Elizabeth, ADA Pathwa g P g Y. P
Nancy, Nicola and Diane for the 31s continue throu h the Fall. You can rotection. As well as havin our name the Vail Valle Awards are resented
support and trust thay have given me help with this project by becoming a added to the 1998 plaque housed in the Vail annually to an individual, student(s), and
this summer. This independence For Alpine Gardens Pathway Partner. Your contribution Town Council Chambers, we have received business. "The alpine garden has been around
allowed me to take on projects which A$20,000 anonymous matching of $10 will purchase a piece of the $1,000 worth of electricity as a prize, donated a long time," said Russ Forrest, Town of Vail
taught me important lessons. For gift pledge and a$5,000 grant from new pathway. Your name will be by Holy Cross Electric Association. Director of Community Development. "We
example, I had the chance to work the Kenneth Kendall King Foundation written in chalk on a piece of stone at Special mention was given to "Adopt a wanted to recognize them for their
with children from Denver who had have sparked plaruling to regrade and the dedication ceremonies next Spring Rare Plant" and xeriscape seminars that teach environmental education in the valley."
not had a chance to plant and resurface the pathways in Betty Ford With President and Mrs. Ford. Please homeowners how to conserve water in the
experience a garden. Other Alpine Gardens to make the Gardens call Nancy Young in the VAGF office, landscape through the use of native plant . ;
'
opportunities for learning came with easily accessible to people with 970-476-0103, for more information on material. This summer s symposium, entitled
how ou can su ort this nn ortant Alternatives in Land Stewardslu will
workin with the Garden Volunteers, physical disabilities. The $20,000 y pp p p'
holdin ginformal worksho writnl pledge will match both monetary and community project in the Gudens. educate landowners, realtors and developers
S Ps, g ~
a garden journal, plant record service contributions. about conservation easements and estate ~
planning.
The Greenstar program initiated by VAGF
Plant Ecologist, Nicola Ripley Johnson, was
Non-Profit
also cited. Greenstar is an environmental U.S. Postage
PAID certification program for valley business ~
Permit No. 31 owners adopted by the Vail'99 World X
~ ,
~ ~ ~ G ~ ~ •
~'C~cr ~~~ED S~~~r vail; Colorado ^ Championships environmental committee to ~
encourage water and energy conservation.
Mayor Rob Ford "We are particularly pleased that our Mountain Gardening
The Town of Vail environmental outreach programs have been
Change Service Requested 75 S. Frontage Road recognized;'said johnson. "In addition, we is HOT o f f the Press
Vail, CO 81657 are currently working on a caoperative effort
with Vail Associates, the Forest Service and Mountain Gardening, a joint publication of
Department of Transportation to restore native Vail and Denver Botanic Gardens, aims
vegetation that has been heavily impacted at directly at gardeners in the mountains. Copies
the Vail Pass rest area." (This project is similar Will be available in Vail at the introductory
to our 1994 restoration of a wetlands on the book signing on Sunday, August 30
Be a Pathway Partner! trail to Shrine Ridge). (information at end of article). This new, 64-
Support our new ADA Project Please see Mountain Gardening on page 2
.
remove the same without r~otice." program funding this year is about $1.2 million. Most
Campaign Signs. public-use, publicly-owned airports have already received
Candidates or Realtors are allowed to place "on- copies of the application and Grant Management Manual,
They're Baaaaack premise" signs on private property with the owner's which guides applicants through the process. However,
permission, of course. The signs on state right-of-way are funding is open to a11 aviation-related entities thatprovide
(and S+tl6l ZIlQga~~ the ones whose cost of removal is paid for by the facilities or services to the general publia lnterested
taxpayers. persons may phone 303-792-2158 for information.
Soon, replacing the miller moths of summer but The fine for this misdemeanor can be $100 to On the Federal Level
sometimes more numerous, campaign signs will join real $1,000, and each day of posting constitutes a separate
estate development signs to clutter yards, streets and offense. In practice, state highway maintenance crews COLORADO As explained in the WASHINGTON UPDATE
highways across the state. The moths are spawned by removing signs often make an effort to contact political ~ section of this publication, when MILESTONES went to
nature. Stick signs are the spawn ofpoliticians, condo candidates or real estate developers as a courtesy. But AERONAUTICS DIVISION the P g g
rinter Con ress was still deliberatin about federal
builders and Realtors. the number of signs which proliferate during the course of funding for the Airport Improvement Program. The AIP
But along state highways, an election season, with primary election signs left in the A annually provides funding for airports considered to be
they're also a misdemeanor, wind and rain (win or lose) to litter ground later taken by A Distracting drivers, blocking highway warning general election causes and candidates, it is difficult for 1 vital elements in the national airport system: commercial
service, reliever and principal general aviation airports.
signs, ar endangering the people who stick them in the crews to notify all the illegal sign placers. Signs are held ' After a budget is set for all Federal Aviation
ground or remove them in close proximity to traffic, the up to thirty days at a local maintenance office before
signs are public nuisances, they're discarded. A Administration needs (administration, safety, air traffic
Officially. control, as well as airport funding) the figure for airports is
then allocated to states based on population and the
According to Colorado Revised Statute 43-1-417, At least, the miller moths lasted only a few weeks, number of aviation facilities served. CDOT's Aeronautics
(3), (a), Except as provided in section 43-1-421 and were easy to sweep up, except for a few eaten by the Division helps airports develop their Five-Year Capital
(Awnings authorized), cat.
Photo Au ust 28 Deadline Improvement Program projections. Whatever the state's
"no persoft other than the (transportation) by Ron Scott, CDOT's Roadside
Advertisement Coordinator. . proportionate share is determined to be, Colorado stands
dePartment without for Aviation Grant Requests ready with identified needs and projects.
written approval of the
department shald erect - -
or maintain any For airport operators across the state,
advertising device it's that time again time to fill out
located either wholly or applicarions in the Colorado Discretionary
Aviation Grant program before this year's
partly within the right- ;
of-way of any state August 28 deadline.
highway that is part of The program comes directly from ,
the state highway state aviation fuel taxes which are collected at
...~r
system, including the point of sale. Each year airports get
streets within cidies, grants in the area of $50,000 to provide airport
and coundes, and maintenance or building needs such as fuel
cities
incorporated towns. All " farm upgrades, capital equipment, lightmg
advertising devices so improvements or other projects. Some grants
located are hereby ` match federal funding for large projects. tn a
declared to be public ~ typical year, the Colorado Aeronautical Board
awards about thirty grants.
nuisances, and any law
enforcement offccer or Colorado Division ofAeronautics
peace officer in the staffers review requests before they go
state of Codorado or before the CAB during hearings. This year, each application will be heard on October 8 or
employee of the The
department is hereby authorized and directed to Page 4 9 at the Doubletree Hotel in Aurora.
Page 5
~ guidebook and an exhibit for the Hornbek Homestead site
at Florissant National Monument. LTAP COIltIriUCd
WASHINGTON UPDATE Frontier Pathways receives a grant of $43,000
for pullouts at the Halfway House on Jackson Hill, and the
by Jim Young Linton, Mields, Reisler & Cottone, Ltd. Beckwith Ranch site near Westcliffe, engineering, part traffic and worker safety, and from
~ Finally, the Byways Commission was given the instructors and people who have spent years or decades
$12,000 to study the impacts of national designation. fields . . . part common
Congress has naw completed its work on the multi-year reauthorization of I~ighway and transit programs, and in their respective transportation
House and Senate appropriators have laid the groundwork for funding these and other U.S. DOT prog'ams in the new fiscal ' sense and the kind of knowledge that comes from
year that begins Clcfober 1. tr experience."
I-; ~ While most people who attend sessions represent
~ ~ .r....,.,,.:.:.:.:-::
town or county street or road departments, about 20
The reau#horiaation saga includes not only the passage of what is now called the Transportatian Equity Act for f~..>:>•<.,.
percent are from CDOT. Occasionally federal and industry
the 21st Century, but the subsequent enacCment ofa package of corrections to the TEA-21. These were made necessary ~'~a,~~
by the many glitehes and errors caused by the haete with which the frnal version of the TEA-21 was assembled earlier this workers attend the training. (The construction industry, as
~ .
year. The corrections, signed in early July byPresident Clinton, were tacked on to the IRS Reform Aet, and they are well as asphalt and concrete pavement associations,
legally effective as o#'the date of enactment of the TEA-21 several wseks aarlier. sponsor their own technical training specific to their
. ,
Aneeds). Instructors are hired for their exPerience and
That baek-dating erases same passible forrnula complieations that might cpme from vague or just piarn wrong knowledge, and course fees (typically $40 per class) help
pay
provisions of TEA-21 being in effect for even a few days. program costs. Classes give attendees a basic
introduction to a topic, information about federal or state
The TEA-21 made little change to tha highway and transit funding that had already been approved €or the current ISTEA BECOMES TEA-21 laws or policies, and direction on where and how to obtain
fiscal year, although its enachnent made it possible for U.S. Depactment of Transpflrtatlon to release the remaining half of more detailed information.
highway and transit funds that had been bIocked by Cangress for lack of a final reauChorization bill. The US DOT During the first half of 1998 Colorado LTAP has
apprapriaCians bills now pending for FY 1999 regresent the first year in which funding for the two major Mghway txust Just when you thought you could finally remember been in transition between the two universities. That
fund programs will rise to the levels sought by key eongressional sponsors. At this pointwith the FY 1999 transportation that ISTEA stood for the Intertnodal Surface didn't limit its services to customers, however. Ten
appropriations passed by the Senate and the 14ouse, the major job ahead is to merge the House and Senate vexsions in Transportation Efficiency Act of 1991, Congress passed training classes were held, attended by 590 people,
September, when the lawmakers return from their sttmmer reeess that lasts until Labar Dap. TEA-21, the Transportation Equity Act for the 21 st covering three of the Road Scholar topics. A survey was
Century. The previous issue of MILESTONES detailed developed to detertnine training interests for the upcoming
Even withaat final actian, the funding levels for the highway and transit prograams are pretty clear. Both House and the bill's major provisions. year; Dr. Yumping Xi, coordinator at the University of
Senate bills have provided funding at the minrmam llflrewall" levels required by the TEA-21, although that is enough of an Colorado engineering department, will review responses to
increase that both highway and transit gcantees will see a large jump in fuading. The firewalls, which shield the kust fund One of the provisions in TEA-21 calls for National see how the program can best serve its users. Colorado
programs from being cut below levels sapported by annual tax revenues to the highway andtransit accounts of the highway Scenic Byways program funding in the amount of $148 LTAP is seeking further federal funding to provide five
trust fund, represent the major achievement of House ~'ransportation and Infrastructure Committee chairman Bud Shuster million over a six year period. flagger certification classes and to buy five safety
(R-Pennsylvania), the key lawmaker for the TEA-21. equipment packages which could be distributed to local
The funds allocated to the grant program will begin agencies based on need.
In achieving tha firewall insulation &am bndgat cags, plus a baost in tvtal funding frazn the $157 billion of the at $23.5 million for Fiscal Year 98, an increase of $9S The new contract with University of Colorado is
previous six-year 1STEA to the $200 billian-plus 4f the six-years of TEA-21, Shuster and other higkway and transit million from the ISTEA level, and grow annually to a FY available for a five year period, renewable annually. As
supporters managed to go over and around the Congressional badget process despite the appasition of key Republican 2003 total of about $25 million. The types of eligible the progam develops in a new engineering department,
leaders. In fact, the ehauman of the House Transpartation Appropriations Subeommittee, F rank Wolf (R-Virginia), " projects will remain the same, but the competition for interested persons can call a toll free hotline (within
complained that the requirement to fun'd those progt~anis left his subeommittee unable ta adequately fuuCid'bath tlie Coast funding will increase because nationally designated Colorado) at 1-888-84$-5827 to learn more.
Cruard and Federal Aviation Adminisiration programs that are parC of the annual transporCatian appropriations bil1. byways will get top priority. (And as explainedabove, "This program has a successful history," says
Shuster's triumph was sa complete tltat the program even has a new twist on the so-ca11ed inflati4n increases of Strcial Colorado now has six of those national byways.) Beth Moore, "in terms of the people served and the
Security and other federal entitlemenC programs, in pears to come, the law provides that if intst fund arevenues inerease knowledge shared. We're seeing an evolution as to its
more than the projected growth of tax revenues that are part of the'TEA-21, spending wlll increase to mateh, university sponsorship, and thesurvey will help identify
what classes customers need as, like the new federal
In both House and Senate bills Che bighway progrram wnutd have a national nbligation ceiling of $25.511 billion, transportation program, we approach the 21 st century."
of which, accordin$ to a prelinninary table, $21.581 billian wiil be distributed among the states, up fram the $18.679 billion
Page 6 Page 3
Canyon Science and Learning Center (Fruita), the historic preservation and to the development of for individual states this year. On the tranait side, both appropriations bills provide for Federal Transit Administration
Museum of Westem Colarado in Grand Junction and recreational, educational and economic benefits to funding of $5,365 billion, up from this year's $4.843 billion. Transit formula grants would rise $350 million to $2.85
Canyon Pintado National Historic District near Rangely. Coloradans and risitors. When applications are approved, billian and the discretionary grants would jump $257 million to $2.257
This area is also the heart of archaeological finds of the the success comes after considerable hard work. billion. Since both House and Senate bi11s agree on these numbers, they should be the ones that resutt from the House-
Fremont Culture whose pictographs and petroglyphs (rock Senate conference on the final bill.
markings and carvings) can still be seen today. F1SCal year CiCallt
Wide open spaces, high mountain ranges and low ~ The other major transportation bill being worked on by Congress is the reaathorization nf the Airport
population density combine to make this a bountiful area is announeed Improvement Program and ather programs of the Federal Aviatian Administration. The Senate Commerce Committee
for wildlife viewing. Geological formations along the , has prepared a mult[-year biil which, following the lead of eommittee chairman John McCain {R-Arizona}, ca11s for
route include the Colorado National Monument and the The Federal Highway Administration (FHWA) increases in the hard-ta-get slots at the four "slot-conttolled" U.S. airports, with an eye toward inereasing competition at
deep canyons of the Green River, the Dinosaur National recently announced grant awards for Fiscal Year 1998 Washington's Reagan National, Chicago's 0'Hare and New York's Kennedy and La Cruardia. However, House T&I
Monument and the dramatic Bookcliff Mountains near which begins in October. Colorado was awarded ' chairman Shuster has already produced a bare bones one-year extension of FAA progz'ams, with no major changes,
Grand Junction. $379,400 for five projects the smallest annual award announcing that next year will be the ysar to take up rnajor refonns of aviation irust fund programs and related issues.
since funding began, but part of a reduced seven million Assuming Shuster can make his decision srick, McCain's bill, even if it passes the Senate, will become a trial run for
Three More Byways dollar package awarded nationwide. The FHWA decided legislation that won't make it into law unfil 1999.
"Go National!" to award only $7 million from grant
applications submitted last January For several years, residents of northwestern
'and roll over a remaining $16.5 A New Bridge
Three of Colorado s byways Colorado recognized the need to replace the old 1931
have been named National Scenic million from the FY 98 funds to the f0r U.S. 40 overhead steel truss bridge over the Yampa River. The
Byways: Frontier Pathways FY 99 grant round. There will be old bridge had two ll-ft lanes, no shoulders, and height
enic Byway $40 million in the new package for (and Maybell) restrictions. A project was fortYUlated with 80 percent
southwest of Pueblo, Santa Fe Trail
in southeastern Colorado, and Top of FY 99. federal and 20 percent state funding for a$21 million
the Raclzies which includes Leadville, ~ During a seven year A dedicati replacement: a bridge with 12-ft travel lanes, eight-foot
period Colorado has received on was held hvo miies east of Maybell
Twin Lakes, Mintum and Redcliff. in June for a new U.S. 40 brid dinated shoulders, and safety improvements at its approaches.
$5,332,047 in National Scenic ge, a ceremonY coor
k b the communit and the Colorado De artment of Later this summer the old bridge will be
These routes have just joined an Byways grants. Y Y p demolished, but its history was honored at the June event.
exclusive list of nationally designated m Two historic playues were
scenic b a s alread mcludin Some 80 proj ects benefited Transportation,
~ y y g I f 1 from the grants. Federal funds were removed by CDOT and are
Colorado's San Juan Skyway, Grand preserved in the town. One was
Mesa and Trail Ridge Road. matched by $1,956,675 in state and presented to Katy Buffam,
local funds, for a grand total of Maybell communitY librarian. The
Secretary of Transportation $7,288,722. second was mounted and
RodneY Slater made the The recent grant's five reserved b local resi nt R
de ed
.
announcement on June 9 in a ~ pro. ~ects: of the $379,400, San p y
~ Juan Skyway receives $172,800 for Baker and given to the Maybell
ceremony at the U.S. Capitol in = Community Center for permanent
Washington, D.C. Thirty three new a new pullout at Red Mountain Pass, . display.
an interpretive kiosk at the Work on the new bridge
routes were added to the list of twenty
byways designated in 1996. Scenic Bvways photo by Bob Brown,
z, . _ began last Octobex with initial
P.E., CDOT Staff Right-of-Way.
a embankments, piers and concrete.
~Colorado is once again leading the nation in ~ ~ `~?,,R The project closed for the winter
desi nations. Alon with the state of Ore Mayflower Mill site near Silverton and bike path
g g gon, we now ' but resumed in March. Traffic
have six nationally recognized byways: two All-American improvements along the Uncompahgre River Trail in was moved on to a new alignment
Ouray and the Leopard Creek Trail at Placerville. ~
Roads and four National Scenic Byways. June 19.
The Guanella Pass Scenic and Historic Byway
receives $112,000 for interpretive markers and materials. - Like many highway
Byways don,t come about based on opinion alone: construction projects, this one
each route must have a local artnershi rou which uts The Gold Belt Tour receives $39,600 for ~
p p g p p came about following local, state
together a corridor management plan dedicated to both continued planning projects, information kiosks, a geology and federal partnerships. Efforts
Page 2 The new U.S. 40 bridge near Maybell lies next to the steed truss Page 7 continued on back page.
bridge built in 1931. Photo bv Dennis Van Patter, CDOT.
'f c- :
~ JulylAugust 1998
COLORADO DEPARTMENT OF TRANSPORTATION
U.S. 40 bridge, conknued. . .
Policy Board meetings
were praised by Moffat County commissioner Joe ~~g*N
Janosec and by recently retired Bob Moston, who had Sept 3 Co lora do Aeronau tica l Boar d mee ts a t
MILES ONES
served for years as CDOT's Region 3 director in Grand Centennial Airport,l0 am
Junction. "A BIMONTHLY NEWSLETTER HIGHLIGHTING COLORADO TRANSPORTATION ISSUES" M
Duckels Construction Company of Steamboat Sept 16/17 Transportation Commission .
Springs is the projecYs general contractor, and Lincoln Fall Road Trip (Colorado Springs,
(Nebraska) Steel supplied girders, but the list of eight Pueblo, Lamar) andmonthlymeeting • ~
subcontractors illustrates how a project can benefit , Scemc & Historic Byways. Town, city and county
companies throughout the state: transportation managers
Construction surveying: Emerald Mountain Oct 8/9 Colorado Aeronautical Board hearings on now Colorado has 22 !
Survey, Inc., Steamboat Springs aviation grants, Doubletree Hotel, Aurara , benefit from shared
Traffic control: Traffix Company, Ltd., Littleton On July 23 the Colorado Transportation technologies
Oct 22 Transportation Commission meeting in
Drilling caissons and piles: LMS Drilling, Denver Commission designated another new spectacular roadvs~ay
Lafayette ' 9 am as a Scenic and Historic Byway; the Dinosaur Diamond. LTAP, the Local Technical Assistance Program,
Contacts: Transportation Commission, Dianne has a new contract with the Universi of olorado at
Girders, reinforcing steel: Pioneer Steel, Cavaliere, (303) 757-9207. Colorado Aeronautical Board, This brings to 22 the total number of designated ryCGlenwood Springs Caroline Scott, (303) 792-2158. byways. Each route is posted with signs showing a blue Boulder which continues our state's participation in a joint
Paving: Connell Resources, Steamboat Springs columbine, Colorado's state flower and is highlighted on government program designed to help local govemments
Guardrail: Ideal Fencing Corporation, Erie , the Colorado Department of Transportation travel map. face transportation challenges.
!tt}ILEST~IPl;ES is -pt~bl~sttec) six t1mes a ~rear ' Su orted b the Federal Hi hwa Administration
Expansion joints, roadway waterproofing Towns along byways have promotional materials, and a pp Y g Y
by t!16 GDOT Puk1iC Inf6rm61t1orr Qffi,ce, ' Colorado De
and
membrane: NPW Constructing, Inc., Denver new edition of the popular Discover Colorado brochure (FHWA), the partment of Transportation,
CARL
Painting: Colorado Strijpe Wright, Ltd., Aurora the s onsorin
- featuring a1122 byways is scheduled for publication before P g universih'~ LTAP has offered trainin
g
The contents of this newsletter are not copyrighted and may be used freely. Where appropriate, please credit CDOT. the end of the year. sessions in Colorado for more than a decade. The
The Dinosaur Diamond is a 550-mile drive program was previously hosted by the Colorado State
COLORADO DEPARTMENT OF TRANSPORTATION through westem Colorado and eastern Utah, boasting some University engineering department.
of the most dramatic dinosaur and other paleontological The program has a mission of providing training,
MILESTONES resources in the world. The Colorado segment of the technical assistance and "technology transfer" to local
° "diamond" shaped route is 134 miles long, following S.H. governments. At its core is the Roads Scholar program, a
, . ~ BULK RATE
4201 EAST ARKANSAS AVENUE DENVER, COLORADO 80222 139 over pouglas Pass, S.H. 64 to Dinosaur and U.S. 40 series of ten one-da3' modules offered at various times of
(303) 757-9228 U.S. POSTAGE into Utah. The route retums to Colorado via lnterstate 70 the year in various Colorado cities and towns, After
PAID from the state line to Grand Junction. attendees complete all ten classes, usually during a two
PERMIT N0. 738 The 416- year period, they receive a
Denver, CO mile Utah segment Roads Scholar plaque.
To ics include brid e
IN THIS ISSUE• ofthediamond p g
' through Vernal, maintenance, drainage, "All
Price, Blanding and About Pavements,", snow
1 Scenic Byways Moab, was and ice control, wark zone
1 Support for Local traffic control and more.
Trans ortation designated by the ~
p Utah state mmx~ Beth Moore is
Agencies ~ legislature last CDOT's Research
1 Nuisance Signs in the
March.
State Ri pTechnology Transfer
ght-of-Way The route ~ manager, and contract
1 Aviation Grants
r{~ ,~rt - adminisfrator far the LTAP
takes the traveler to x r~
Ma
~ ~
1 Washington Update
ro am. "I earned m
t~ ',''.lSr " F~''"~~~ theColorado e , ~ p y
1 New U.S. 40 bridge
~ t C~ ~_657 National Roads Scholar plaque a
1 Policy Board meetings
Monument, couPle of Years ago, and still
Dinosaur National value the information that
Monument Devils was shared. It's part civil
RECEr IVC C~D SEP ' At Dinosaaar National Monument, the guarrv visitor center continued on age 3.
...contenued next page is a favorite stop. p