HomeMy WebLinkAbout2000-08-01 Support Documentation Town Council Work Session
VAIL TOWN COUNCIL
WORK SESSIONS
TUESDAY, August 1, 2000
2:00 P.M. AT TOV COUNCIL CHAMBERS
NOTE: Time of items is approximate, subject to change, and cannot be
relied upon to determine at what time Council will consider an item.
1. Donovan Park - Discussion of the next steps in the
George Ruther development review process, cost implications and status of
Todd Oppenheimer the adopted budget.
Suzanne Silverthorn
Russell Forrest ACTION REQUESTED OF COUNCIL:
Piet Pieters Listen to a presentation by the staff on the proposed
Diane Johnson Donovan Park development plan and provide direction and
input to the Design Team in anticipation of the master plan
amendment preparation.
BACKGROUND RATIONALE: See memo in packet.
2. Update on Information Service/Special Events. (30 mins.)
Joel Heath
3. Vail Resorts - Snowmaking. (30 mins.)
Tom Allender
4. Third Sheet of Ice. (15 mins.)
Bob McLaurin
5. Discussion of August 1, 2000 Town Council Evening
Meeting Agenda Items. (5 mins.)
6. Information Update. (10 mins.)
7 Council Reports. (10 mins.)
8. Other. (10 mins.)
9. Executive Session - Personnel Matters. (30 mins.)
Tom Moorhead
10. Adjournment. (5:05 P.M.)
NOTE UPCOMING MEETING START TIMES BELOW:
(ALL TIMES ARE APPROXIMATE AND SUBJECT TO CHANGE)
THE NEXT VAIL TOWN COUNCIL REGULAR WORK SESSION
WILL BE ON TUESDAY, 8/8100, BEGINNING AT 2:00 P.M. IN TOV COUNCIL
CHAMBERS.
THE FOLLOWING VAIL TOWN COUNCIL REGULAR WORK SESSION
WILL BE ON TUESDAY, 8/15/00, BEGINNING AT 2:00 P.M. IN TOV COUNCIL
CHAMBERS.
THE NEXT VAIL TOWN COUNCIL REGULAR EVENING MEETING
WILL BE ON TUESDAY, 5115/00, BEGINNING AT 7:00 P.M. IN TOV COUNCIL
CHAMBERS.
Sign language interpretation available upon request with 24-hour notification.
Please call 479-2332 voice or 479-2356 TDD for information.
de
e4
TOWN OF VAIN,
Office of the Town Manager
75 South Frontage Road
Vail, Colorado 81657
970-479-2105/Fax 970-479-2157
W ® TM
MEMORANDUM
TO: Vail Town Council
FR: Bob McLaurin, Town Manager
RE: Town Managers Report
DT: August 1, 2000
FY2001/2002 ACCOUNTING STRUCTURE
As we begin to prepare the FY2001/2002 operating and capital budgets, I wanted to
bring to your attention a change which we intend to make to the accounting structure.
Specifically it is our intention to collapse the housing, parking, and facility maintenance
funds back into the general and capital projects funds. This should simplify the
understanding of the budget as it eliminates interfund transfers.
SPECIAL EVENTS COMMISSION
At their July 20th meeting, the Special Events Commission requested Council consider
"rolling forward" $30,000 in special events funding that was originally allocated to a Vail
Village-specific event for Y2000. Unfortunately, the event the Commission pursued, the
Third World Musical Festival which was originally slated for the Vista Bahn area, could
not be held in that area due to a Forest Service moratorium on public concerts (this
area is now de-annexed from the town). Although the Commission also considered
moving forward w/a Chriskindlmarket concept for the shoulder season between
Thanksgiving and Christmas, time limitations and lack of consensus from the Village
merchants re: outdoor vendors precludes moving forward w/this latter venue at this
time. The Commission is requesting Council roll forward $30,000 to the Y2001 to serve
as seed money funding for the upcoming year.
BUFFEHR CREEK PARK PAVED WALKWAY
Since Council may have already received inquiries about the paved walkway through
the park, staff wished to review the public process for this project. Initially two public
neighborhood meetings were held, followed by the mailing of a survey. (PLEASE LET
ME KNOW IF YOU WISH TO RECEIVE A COPY OF THE RESULTS.) The survey
results were then released. At the third public neighborhood meeting, the choice of a
RECYCLEDPAPER
6
paved walkway was discussed for two reasons: ADA ease of accessibility and a wood
chip base would cause too much of a maintenance issue. This trail and walking path,
as a paved surface, was discussed at each subsequent DRB meeting (there were two),
PEC meeting (there were two), and w/the Town Council (there were also two meetings).
Hearing no negative input re: the choice of the paved walkway at these meetings, staff
included this option in their final design. Because of the dense landscaping, this path
will virtually disappear when the landscaping is complete.
UPCOMING ITEMS:
08/08/00 WS - 2:00 P.M.
DRB Report
Animal Control
Parking Discussion
08/15/00 WS - 2:00 P.M.
PEC Agenda/Report
08/15/00 TC - 7:00 P.M.
Parcel "C" Discussion
2nd Reading of Ordinance No. 17, Series 2000 - PEC/DRB
2nd Reading of Ordinance No. 11, Series 2000 - Model Traffic Code
UAILVAU-EY
FOUNDATION
"Building for the Future"
Providing leadership
in athletic, educational
and cultural endeavors
Gerald R. Ford Amphitheater
to enhance and sustain
the quality of life in the Vilar Pavilion
Vail Valley
Board of Directors The'eommencement of the Ford Amphitheater's redevelopment will be begin with
President Gerald Ford a groundbreaking ceremony on August 31St, this will be a mile marker for Vail.
Adam Be
Judith Berk rkowitz The redevelopment of this 13-year-old outdoor facility is a project of the Vail
-
Leon Black Valley Foundation, its current owners and, operators. The drive for this project is
Carolyn Blount
Marlene Boll to enhance and improve the already award winning facility. The. entire project is
Bjorn Erik Borgen
James Berry Craddock aimed to providing a "better" experience for guests and artists alike. Four
Jack Crosby
Andrew Daly primary areas are the focus of the improvements and addressed; weather
Harry Frampton, ul
Gerald Gallegos protection, enhanced accessibility and general "facility and performance
G improvements. To insure the success of this project and to maintain the existing
John f Gilletllett, Jr.
George
G lhert Giordano ambiance, local firms were carefully selected. Morter-Aker Architects, Viele
PepiGramshammer Construction, Land Designs By Ellison and JT Berga & Co. will be the primary
Steve Haber
Martha Head
William Hybl firms working on the redevelopment.
•
Elaine Kelton
Jack Kemp
Peter May The total scope of this project will cost $9 million, adding to the original $2.2
Patricia Peeples
George Shaeffer million facility. This major capital' project was embarked upon in December of
Stanley Shuman 1999 when the Foundation's Board of Directors unanimously agreed to proceed.
Rodne Stanley Shuman
yang
Oscar The Board envisioned this project, the Gerald R. Ford Amphitheater upon its
Oscar -
James Wear completion will be one of the most beautiful open-air venues in the country. - The
Cecilia Folz wonderful ambiance, views. and intimacy that currently exist in the amphitheater "
President
will be coupled with more user friendly service spaces, improved theatrical -
2001 World Mountain
Bike Championships facilities for performers, expanded food and beverage operations, better seating
1999 Works Alpine for our handicapped audience, increased seating under the pavilion, and weather.
Ski Chantpitmships protection improvement for both the pavilion audience and the general admission
1994 WorldMounmin guest. To guarantee the success of Vail's premier outdoor facility the Foundation
Bike Championships
1989 World Alpine, requests the Town of Vail's help with this project both with cash and in-kind
Ski Championships services.
AEI World Forum
American Ski Classic The Foundation would request the, Vail Town Council to consider the following
FIS Alpine Wield Cup items for support.
Friends of Vail
Fund for the Funire The Foundation requests the Town to supportthe Amphitheater reconstruction'by
Gerald R. Ford providing a combination of cash and in-kind services valued at $300,000.
Amphitheater
Ihn"nhlowerAwards .o In-kind Services Requested : (Costs are estimated)
UCI Mountain Bike
World Cup O Park Entrances $22,500
,
Vail Votlev Foundation a) construct and place three park entrances, each entrance $7,500
Scholarship Program (entrances design created and agreed upon by park users and town)
Vail International o Guest Interactive Kiosk $25,000
Dance Festit al
a) purchasing and installing custom kiosk FI~x- ZYSdY'Yv\eul-,,_:-1~_ T-6-'-_A;fs
P.O. Box 309 Dance Floor $19,500:
Vail, Colorado 81658 a) building and installing custom dance floor U
970-949-1999
Fax 970-949-9265
e-mail vvfops@vail.net
www.vail.net/vvf
A Colorado 501 (c) (3) - '
Nonprofit Corporation
o Snow removal $24,750
a) snow removal to and around facility
b) spreading cinders
c) spring cleaning-up any cinder and path sweep
Snow dump access $7,806
A Qi5 a) access to public works snow dump for snow removal
b) removal of snow. off site
o Parking $25,000
a) a private and closed portion of the East Ford Park lot, parking for 40
vehicles
b) a private and closed portion of the Soccer field lot, parking for 25 _
x vehicles
o Staging and lay-down, $0
a) allowing staging to occur just west of school house in.Ford Park (going
-under construction next summer w/ Alpine Gardens)
ree Transplanting _ $20,000
a) removing twenty-five.trees within the facility, once removed TOV if
desires may keep trees for parks or other public areas" `
o Trash Enclosure, $5000
a) pay for.the GRFA's 1/3 of construct of the proposed trash facility
required by the Ford.Park Master Plan, - currently split between TOV,
GRFA and VRD
o Asphalt Overlay $33,150
(approx. 22,100' )
a) replacing top coat of circle outside. of amphitheater
'b) replacing top coat from circle to,east entrance of amphitheater
c) replacing top coat just west of access gate (next to truck staging)
d) repairing and patching any holes on park service road
o Excess Dirt Dump Site - $20,000
a) allowing excess dirt to be dumped on town property,, preferably
adjacent to East Ford Park lot expanding the Ford Park lot
"
Memorandum
To: Vail Town Council/Vail Recreation District Board
From: George Ruther, Chief of Planning
Date: August 1, 2000
Re: Donovan Park Development Process/Next Steps
PURPOSE
The purpose of this worksession is to inform the Town Council and Board of the next steps in the Donovan
Park development process and to identify the approximate costs associated with completing the next steps
of the project.
BACKGROUND
On July 25, 2000, the Donovan Park Design Team met the with Vail Town Council and the Vail Recreation
District Board to visit the development site to view the layout and location of the proposed park pavilion.
The Vail Town Council informed the design team to proceed forward with an application to amend the
Donovan Park Master Plan.
NEXT STEPS
In 1985, the Town of Vail adopted the Donovan Park Master Plan. The purpose of the plan is to provide a
general framework and outline for the development of the park. The original master plan anticipated
numerous uses for the park land. The anticipated uses included recreation fields, play structures, picnic
pavilions, an ice skating pond and on-site parking.
The current proposal recommends changes to the master plan. Significant changes to the master plan
require the adoption of an amendment to the plan. The amendment procedure requires the preparation of a
proposed development plan and any associated phasing, architectural and/or relevant sketches/diagrams.
An amendment proposal is first reviewed by the Planning & Environmental Commission. In the case of a
master plan amendment, the Planning & Environmental Commission serves in an advisory role to the Town
Council. Upon review of the proposed development plan and testimony taken during public hearings, the
Commission shall forward a written recommendation to the Town Council. The recommendation shall be
for approval, approval with conditions, or denial of the proposed plan amendment.
The Town Council is the final decision-maker in the amendment process. Upon receiving a
recommendation from the Planning & Environmental Commission, the Town Council shall consider a
resolution to adopt the proposed changes to the master plan. A resolution shall be heard at a regularly
scheduled evening meeting of the Town Council.
The anticipated schedule for review of the master plan amendment is:
August 28 - Submit application to the Community Development Department
September 25 -Planning & Environmental Commission public hearing & recommendation
October 3 - Vail Town Council public hearing & adoption of a resolution amending the master plan.
APPROXIMATE COST TO PREPARE THE MASTER PLAN AMENDMENT AND COMPLETE
THE SCOPE OF SERVICES OUTLINED IN THE. CONTRACT
The Town of Vail and the Vail Recreation District Board contracted services with Odell Architects, P.C. to
prepare a master plan amendment to Donovan Park. The scope of services of the contract includes the
program, design and construction of a community center and park facilities on the lower bench of Donovan
Park and to receive approvals from the various reviewing bodies. The Town and the District agreed to pay
the consultant a total fixed fee of $235,000 for services plus reimburseable expenses. The timeframe for
completion of the services of the consultant was set for April 15, 2000. In the event, through no fault of
the consultant, the services extended beyond April 15, 2000, the fee shall be equitably adjusted.
To date the consultant has responded in conformance with the contract. Due to numerous changes and
revisions to the proposal and changes in direction over the course of the last 8 % months, the consultant is
requesting an additional $20,000 to complete the scope of services outlined in the contract. This will take
the total fixed fee amount to $255,000 for project. To accept the adjusted fee an amended contract is
required.
Staff anticipates that in a "best case" scenario it will take approximately 30 - 45 days to complete the
master plan amendment and an additional 30 - 45 days to receive final Design Review Board approval. A
schedule for design review has not yet been.developed.
ADD
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04
TOWN OF VA
- ®G
Office of the Town Manager
75 South Frontage Road
Vail, Colorado 81657
970-479-2105/Fax 970-479-2157
TM
MEMORANDUM
TO: Vail Town Council
FR: Bob McLaurin
Town Manager
RE:- Temporary Ice Sheet
DT: July 27, 2000
As directed, we have been working with the Vail Recreation District and the Vail Junior
Hockey League to develop a proposal to provide a temporary sheet of ice. The purpose
of this memo is to provide the Town Council with an update on this issue and to
facilitate a discussion about how the Council wishes to proceed with this matter.
RINK LOCATION
Originally the temporary ice sheet was proposed to be located at the Vail Golf Course
driving range. As you are aware, this site has been used for a smaller temporary rink for
the past several winters.
Upon closer review of the driving range site it will be necessary to do significant site
work to make this location function properly. Specifically, it will require regrading the site
to remove a "crown" which facilitates drainage for the summer. Without the regrading
the rink would not be level and would not function properly. In addition to the site
grading issue, the sod under this facility would need to be replaced annually. The
estimate for sod replacement cost is $20,000 annually.
In light of these issues we began to explore other alternatives for siting this facility. At
this point, the most promising location appears to be the ball fields at Ford Park. While
this site is not without problems and issues, it is flat and will not require additional
grading. Because most of the rink would be located on the infield portion of the site, the
annual sod replacement cost would be about Y2 of the driving range location.
RECYCLEDPAPER
ZONING AND DEVELOPMENT REVIEW ISSUES
If the Council wished to locate this facility at the driving range it will be necessary to
rezone the property and to receive a Conditional Use Permit for the proposed use.
Locating the facility at the ball field would require an amendment to the Ford Park
Master Plan and would also require a conditional use permit. Obviously the
development review procedure would include a discussion on parking, scheduling etc.
COSTS
The costs for this project is approximately $600,000. 1 realize this is considerably more
than was initially discussed; however the additional costs are being caused by
additional electrical power upgrades and various other items left out of the first proposal.
Another consideration in the higher costs is the fact VRD is looking at different vendors
for these products than Vail Junior Hockey had done originally. The current cost
estimate is as follows:
Refrigeration System $400,000
Bubble To Cover Ice Arena $150,000
Electrical Upgrade $75-150,000'
Lightening System For Bubble Interior $20,000
Interior of bubble flooring $12,000
Interior Netting $2,000
Bubble Anchors $4,000
Please note that these costs are estimates only and prices would have to be refined
prior to ordering the facility. The estimated life of this facility is fifteen years, but
believe is will be less given the wear and tear associated with the annual set up and
tear down. At this time I do not have a residual or salvage value for the facility.
LOGISTICAL ISSUES
In addition to the issues of location, costs and construction, another important issue that
needs to be addressed is the annual erection, removal, transportation and storage of
the facility. It is my understanding that this issue has been generally resolved. The
VRD will direct the erection and removal of the facility. The labor for these events will
be provided by Vail Junior Hockey and the Town of Vail will transport the facility to the
designated storage area. It is important to understand that the TOV does not have the
manpower to accept the responsibility of set up and tear down of the facility nor the
space to store the facility.
OPERATING COSTS
Although it is not our issue, I have attached a budget provided by the VRD. The
significance of this budget to the TOV is there is no revenue returned to the town.
Depends on location. The Ford Park site is estimated to cost $150,000 to upgrade the electrical system,
the electrical work at the driving range site is estimate to be $75,000.
The VRD estimates its deficit to operate the new facility will be twice what it was to
operate the outdoor rink.
ACTION REQUESTED OF COUNCIL
At this point the Council needs to determine if you wish to proceed. If you wish us to
proceed we need to know you preference for locating this facility.
We look forward to discussing this issue with you and for you to determine how you
wish us to proceed.
cc: Vail Junior Hockey
Vail Recreation District
qVAIL
'OWN Office of the Mayor
75 South Frontage Road
Vail, Colorado 81657
970-479-2100
FAX 970-479-2157
www ci. vail. co. us
July 26, 2000
Bill Owens, Governor
136 State Capitol
Denver, CO 80203-1792
Dear Governor Owens:
On behalf of the Vail Town Council and our community, I wish to thank you for
the proactive stance the Governor's Office of Business Development took in
recruiting and positioning the Inc. 500 annual conference in Vail, Colorado.
It was a pleasure to have a group of this stature in the Town of Vail and hope
through our combined efforts w/Vail Resorts and the Forest Service, we were
able to provide a venue and accommodations of first class calibre.
We understand this venue was somewhat unusual for the Inc. 500 organization
and are delighted we were chosen to host.
Again, our staff enjoyed the opportunity to work in tandem with your state Office
of Business Development, and all of us in the community would welcome back
this group in the future. Thank you for your efforts on our town's behalf.
Sincerely,
TOWN OF VAIL
Ludwig Ku
Mayor
xc: Vail Town Council
Office of Business Development
Pam Brandmeyer
~iP ® RECYCLW PAPER
COUNCIL FOLLOW-UP
TOPIC QUESTIONS _ FOLLO!!!!UP
2000
BOB: Write a letter to the organizers to thank them for
06/06/00 - BALD MOUNTAIN NEIGHBORHOOD creating such a lovely garden.
ENTRY
Diana Donovan
rKe'vin 00 - RED SANSTONE CREEK HOUSING NINA: It had been a problem for these homeowners to get Nina Timm contacted the contractor two weeks ago.
items on their punch lists completed.
Foley
rKe'vin 1/00 - BUSES AT FORD PARK MIKE ROSE/GREG HALL: Bus service "to" the park has We are carrying a few passengers out but most are walking back. We are
been great; but getting visitors out of the park following providing 10 min. service on the Frontage Road and 15-20 min. service with
Foley performances, is not optimal. expanded in Town.
07/11100 - BAFFLE AT THE EAST VAIL WATER GREG HALL: Explore the possibility of building a baffle at Will begin preliminary discussion to see if it is feasible and who is willing to
TREATMENT PLANT this site through a partnership w/the water district, CDOT, contribute funding.
and FHA. (or is that FHWA?)
Chuck Ogilby
7/19/00 - VILLAGE NOISE GREG MORRISON: Some of the bars have become quite The Police Department has been monitoring the bars and restaurants
loud following the Hot Summer Nights concerts on Tuesday following each Hot Summer Night with sound meters. One noise ordinance
Rod Slifer evenings. Are these licensed and monitored appropriately? violation was detected and voluntary compliance was received from the
business by closing its outer doors.
7/19/00 -1-70 NOISE GREG H: Status of Addressing 1-70 noise? We are in the process of preparing a 1-70 Noise Contour Map, through MK
Centennial, to identify the severity of the problem throughout the Town.
Greg Moffet The study should be complete by mid September. Once this is known the
next steps can be worked out.
7/19/00 - NOTIFICATION TO BOARD PAM: Swift notification to board applicants following Council FOLLOW UP: It is the responsibility of the department that directly supports
APPOINTEES appointment (or lack thereof). these boards to inform applicants for board positions. In the case of the
Marketing District, Pam and Steve will assume notification responsibilities
Greg Moffet as liaisons of Council, acting as the Board of Directors, for this special
_ district.
7/19/00 - WARNING SIGNS FOR BICYCLISTS LARRY/GREG H: There is concern for bicyclists and other Public Works will install signs warning pedestrians and bicyclists of the
July 27, 2000, Page l
recreation path users at the construction site near the construction in the Antlers/Marriott bike path area. Additionally, signs have
Kevin Foley Marriott. Signs are needed to redirect people to alternate been posted at all main entries into the village stating: FOR PUBLIC
routes. SAFETY, WE ENCOURAGE YOU TO DISMOUNT FROM BICYCLES AND
SKATEBOARDS.
7/19/00 - THANK YOU TO THE GOVERNOR PAM: Prepare a thank you to Governor Bill Owens' office for See attached letter.
their assistance in selecting Vail as the host site for the Inc.
Rod Slifer 500 conference.
07/25/00 DOBSON ICE ARENA PAM: Inc. 500 organizers have expressed negative
feedback re: the approval process for the use of Dobson
Rod Slifer Arena.
07/25/00 CAPACITY ISSUE AT DOBSON BOB/RUSS: Bring resolution to this issue.
Diana Donovan
07/25/00 ESCALATING COSTS FOR THE BOB: What is the status?
THIRD SHEET OF ICE.
Diana Donovan
July 27, 2000, Page 2
TOWN OF VAIL MEMORANDUM
TO: Robert McLaurin
Council Members
FROM: Judy Popeck (D
DATE: July 26, 2000
RE: Investment Report
Enclosed is the investment report with balances as of June 30,
2000. Per Council's request, page 2 has been changed to reflect the
prior year-end and quarter-end totals for comparison to the actual
amounts at 6/30/00. Please let Steve, Christine, or myself know if
this is helpful to you or we should discontinue.
The estimated average yield for the pooled cash fund was 5.9100. As
of 6/30/00, the yield curve for 3 months, 6 months, and 1 year are
5.550, 5.950, and 5.760 respectively.
Please call me if you have any questions.
r ,
Town of Vail, Colorado
Investment Report
Summary of Accounts and Investments
For Month Ended 6/30/00
(With Comparative Amounts for Last Quarter 1999 and Second Quarter 1999)
00 99
Balances Percentage Balances Balances
06/30/00 of Total 12/31/99 06/30/99
Money Market Accounts (see page 3)
Commercial Banks $1,870,967 7.41% $2,421,906 $2,352,806
Colorado Investment Pools $14,991,788 59.35% $8,461,502 $11,232,846
Money Market Funds $160,272 0.63% $36,281 $71,404
Total $17,023,026 67.39% $10,919,689 $13,657,056
Commercial Savings
Banks & Loans
Certificates of Deposit (see page 4)
Eagle County Institutions $2,000,000 $2,000,000 7.92% $2,000,000 $2,000,000
Total $2,000,000 $2,000,000 7.92% $2,000,000 $2,000,000
Percentage of Portfolio in Savings & Loans 0.00%
U.S. Government Securities (see page 5)
FEDERAL AGENCY DISCOUNT NOTES & BONDS $4,954,880 19.62% $4,464,190 $2,963,140
FNMA'S, ARM'S & SBA'S $1,282,639 5.08% $1,368,253 $1,325,163
Total $6,237,519 24.70% $5,832,443 $4,288,303
Total Portfolio $25,260,545 100.00% $18,752,132 $19,945,359
Maturing Within 12 Months $21,012,826 83.18% $15,003,039 $4,081,715
Maturing Within 24 Months $1,515,509 6.00% $2,481,645 $984,300
Maturing After 24 Months $2,732,210 10.82% $1,267,448 $14,879,344
$25,260,545 100.00% $18,752,132 $19,945,359
06/30/00 Page 2
JUNE00.XLW
Money Market Funds
as of 6/30/00
For the Month of 6/30/00
Institution Balances
Type of Accounts High Low Average 06/30/00
COMMERCIAL BANK ACCOUNTS
First Bank of Vail - Operating
Interest 6.270% 4.350% 6.270%
$2,569,025 $2,093,855 $2,259,589
Balance $1,870,148
US Bank Super Now Account
Interest 3.100%
General Operating Account
Balance $819
Total Commercial Bank Accounts $1,870,967
LOCAL GOVERNMENT INVESTMENT POOLS
Colotrust General Fund
Interest _ 6.100%
Balance $14,991,788
Total Local Government Investment Pools Accounts $14,991,788
MONEY MARKET FUNDS
Schwab Institutional Money Market Fund - Dana Investments
Interest 5.670%
Balance $160,272
Total Money Market Funds $160,272
Total all accounts $17,023,026
06/30/00 Page 3
JUNE00.XLW
Certificates of Deposit
as of
06/30/00
Bank Name, Location Days to
Rates Purchase Maturity Maturity Maturity
Ins Coupon Yield Date Date at Purchase Value
Weststar Bank, Vail Colorado
FDIC 5.850% 6.010% 28-Jan-00 28-Jan-01 366 $1,000,000
Alpine Bank, Vail Colorado
FDIC 5.510% 5.650% 31-Dec-99 31-Jul-00 213 $1,000,000
Avg Yield 5.753% $2,000,000
06/30/00 Page 4
JUNEOO.XLW
I
Government Securities
as of 6/30/00
***Federal Agency. Discount Notes & Bonds***
Days/Years
Interest Rate Purchase Maturity to Maturity Book Original
Agency Fund Coupon Yield Date Date at Purchase Value Cost
FNMA Pooled 6.400% 6.121% 29-Oct-99 02-May-01 1.5 $996,250 $1,035,427
FFC Pooled 6.000% 6.200% 29-Oct-99 01-Oct-01 1.9 $1,484,535 $1,500,570
FNMA Pooled 4.390% 5.270% 19-May-99 13-Oct-00 1.4 $993,550 $992,616
FHLB Pooled 6.250% 6.972% 03-Apr-00 15-Nov-02 2.6 $1,480,545 $1,507,526
Average Yield 6.23% $4,954,880 $5,036,139
***FNMA'S, ARM'S & SBA'S***
Days/Years
Interest Rate Purchase Maturity to Maturity Book Original
Agency Fund Coupon Yield Date Date at Purchase Value Cost
SBA Pooled - Dana 9.725% 29-Jun-94 25-Feb-08 13.7 $17,372 $82,749
SBA Pooled - Dana 9.225% 26-May-94 25-Mar-08 13.8 $40,169 $109,734
SBA Pooled - Dana 9.725% 18-Aug-94 25-Jul-08 13.9 $27,595 $109,875
SBA Pooled - Dana 9.270% 18-Aug-98 25-Feb-II 12.5 $53,859 $94,503
SBA Pooled - Dana 8.375% 31-Oct-96 25-Jan-13 16.2 $16,711 $65,558
SBA Pooled - Dana 8.975% 29-Jun-94 25-Jun-19 25.0 $45,202 $108,523
SBA Pooled - Dana 9.225% 12-Jul-94 25-Jun-19 25.0 $21,856 $108,744
SBA Pooled - Dana 8.975% 08-May-95 25-Dec-19 24.6 $52,855 $99,391
SBA Pooled - Dana 8.750% 26-Feb-99 25-Feb-24 25.0 $54,702 $82,542
GNMA Pooled - Dana 7.125% 25-Jan-99 20-Oct-18 19.7 $62,028 $78,087
GNMA Pooled - Dana 6.750% 12-Aug-97 20-Sep-25 28.1 $28,912 $76,141
GNMA Pooled - Dana 7.125% 24-Nov-97 20-Oct-25 27.9 $30,702 $83,701
GNMA Pooled - Dana 6.375% 27-Apr-98 20-Jan-26 27.8 $24,141 $76,509
FNMA Pooled - Dana 6.721% 21-Nov-96 01-Jan-21 .24.1 $60,389 $91,486
FNMA Pooled - Dana 7.408% 30-Oct-98. O1-Apr-24 25.4 $57,587 $97,048
FNMA Pooled - Dana 6.849% 01-Jul-96 01-May-26 29.9 $12,169 $55,304
FNMA Pooled - Dana 7.092% O 1-Jul-99 01-May-28 28.9 $41,107 $49,473
FNMA Pooled - Dana 7.786% 01-May-00 01-Jun-28 28.1 $98,734 $99,260
FNMA Pooled - Dana 6.605% 23-Mar-00 01 -Dec-29 129.8 $67,726 $68,656
FNMA Pooled - Dana 6.567% 28-Jun-99 01-May-29 29.9 $81,177 $100,047
FNMA Pooled - Dana 6.832% 27-May-94 01-May-20 25.9 $34,403 $100,577
FNMA Pooled - Dana 7.876% 24-Jun-99 O 1-Aug-22 23.1 $84,925 $102,043
FHLMC Pooled - Dana 7.904% 23-Jun-98 O1-Aug-25 27.1 $32,268 $79,539
FHLMC Pooled - Dana 6.740% 28-Mar-96 01-Mar-26 29.9 $533 $9,323
FHLMC Pooled - Dana 6.998% 27-Dec-99 Ol -Aug-29 29.6 $73,726 $75,942
FHLMC Pooled - Dana 8.563% 28-Aug-94 01-Aug-18 23.9 $26,292 $74,245
FHLMC Pooled - Dana 8.016% 28-Jun-94 01-Mar-19 24.7 $17,763 $66,355
FHLMC Pooled - Dana 6.864% 22-May-96 01-Feb-36 39.7 $19,070 $60,461
FHLMC Pooled - Dana 8.460% 25-Oct-99 01-Jan-18 18.2 $67,692 $75,967
NAVOT Pooled - Dana 6.750% 06-Apr-98 15-Mar-02 3.9 $30,974 $101,519
Average Yield 7.33% $1,282,639 $2,483,302
Total $6,237,519
06/30/00 Page 5
JUNEOO.XLW
0
s
To: Vail Town Council
From: Suzanne Silverthorn, Community Information Offic
Subject: 6-Month Review of TOV Weekly News Insertion
Date: 8-1-00
Background
On February 1, after reviewing proposals from the Daily Trail and Vail Daily, the
Vail Town Council voted 6-0 to publish a weekly agenda/news digest in the Daily
Trail for a six-month trial period. The Daily Trail quoted a rate of $84 per
insertion with Council approving a $2,184 expenditure. The project has been
handled on a weekly basis with information compiled by the Town Manager's
Office. In all, 26 editions of the TOV Weekly News have been created during this
trial period. August 7 will mark the end of the project's six-month experiment. As
Council had requested previously, it is now time for a program review.
Impact and Effectiveness
Published Mondays in the Daily Trail, we can cite only anecdotal examples
regarding the program's readership and effectiveness. Since the program's
inception, for example, the Community Information Office has received 5 or 6
telephone calls from constituents who wanted to follow-up on something they
saw in the notice. Another measurement, although indirect, is the Citizen Survey
rating for the "information dissemination" category, which showed an increase in
this rating from 3.6 to 3.8 (with 5 being the highest) over the past year. Perhaps
Councilmembers could shed some additional light on citizen awareness and
feedback.
Coordination and Production
Although this project may appear effortless externally, there have been ongoing
production and mechanical problems associated with the weekly production.
These problems include multiple typos on proofs generated by the Daily Trail
graphics department and an inability by the graphics department to meet weekly
deadlines. For example, it is not unusual for staff to remain past 5 or 6 pm on a
Friday evening waiting for a final proof.
Maximization of Effort
Efforts are currently underway to maximize distribution of the information that is
currently being complied for the TOV Weekly News. We're working to duplicate
this information on Channel 19, a fax broadcast system and through the Town of
Vail Web site for added staff efficiency as well as maximum audience reach.
New Proposals for Remainder of 2000
We asked TOV account representatives at the Daily Trail and Vail Daily to
update their proposals for the remainder of the year to include information on
cost, audience reach and production. A summary of the proposals (attached) is
as follows:
¦ Daily Trail
$84 per insertion @ $3 per column inch with donated spot color
¦ Vail Daily
$164.80 per insertion @ $5.15 per column inch with donated spot color
Staff Recommendation
Although the cost is considerably higher, staff recommends transferring the
project to the Vail Daily for the remainder of the budget year. This will cost
$3,296 and could be earmarked from remaining Council contingency funds or
a supplemental appropriation. Then, after reviewing our experiences with both
papers, a determination can be made regarding an approach for FY2001, which
will be included as a line item in the Community Information Office budget. Staff
supports the movement from the Daily Trail to the Vail Daily for the following
reasons:
¦ Higher readership in Vail Daily (13,500 adults versus 5,300 according to a
1998 survey) allows more "bang for the buck"
¦ Higher level of staffing, production efficiency and flexibility
We believe the Vail Daily's readership advantage outweighs the advantagE:s to
staying with the. Daily Trail, which include:
¦ Lower weekly cost ($84 versus $164.80 per insertion)
¦ Ease of finding TOV ad given smaller number of pages
Next Steps
Staff recommends reviewing this memo during information update at the August
1 work session for a decision.
_
Jul-26-00 03:04P The ua i l Tv-a i l 9703280573 P-01
.
01111YTRAIL
M e m o r an d u m
x/25/®0
Ce
To: Suzanne Silverthorn
From: Jerry Stevens
Re: Ad quotes
Suzanne,
Regarding the c1tinuation of
the TOV Weekly News project with the Daily
Trail, it is my pleasure to inform you that we can continue to offer the ?x14 ad
spat to the Town of Vail, for the Meekly News ad, at the price of $84 per
inse tion. in addition, we will include spot color at no additional charge. As
YOU now the Tditorial content of our newspaper is well respected and ads are
mor noticeable than in the other daily newspaper which is our competition.
Please know that ~ will continue to do everything in my power to make sure
that this ad is produced nand run in a correct and timely basis. I have had a.
I lengthy conversation with the publisher regarding this account and Bob Knox
is also committed to taking any necessary steps to make sure none of the past
problemI will re-occur. 'hanks for your consideration and please let me know
if you need any other information regarding this project.
'hawks -
i
Jerry
~e
JUL-21-00 16:16 FROM: ID:9709263964 PAGE I/6 ,
p e s 1 181658 ' f f quan. CO f f ' s f'
DATE: 7/21/00
TO: SUZANNE SELVE MiORNE
OF: Towle o>F VAn,
FAX: 479-2451
MAYt t AL: WEEKLY AD'v rAuLiSING
# OF PAGES (INCLUDING COVER Sn=l):
COMMENTS:
Thank you for your call yesterday regarding placing a. Town of Vail Weekly News
advertisement in the Vail Daily.
Per our discussion, I have enclosed a 6 mon trial schedule proposal as well as information
that we have gathered from an independent' research company, regarding readership in the
Vail Daily versus the Daily Trail.
The Vail Daily has always been a firm sup orter of the Town of Vail through both strong
editorial coverage as well as occasional advv tising dvations. To continue this support with
the "Weekly News" advertisement campaign, we would like to offer you FREE' cyan color to
further highlight and promote your advertisement. The following is a summary of what the
advertisement will cost=per day:
Vkil DIHV
2x16 cplumn inch ad
4 FREE gyan spot color
Running Mondays
Total Cost iper day:. $164.80
Please call me with any questions regarding this proposal, also I would be happy to drop off
original copies if that would help. Have a eat weekend!
Regards.
SENnot: BETS' 'UNDALL
409
PHONE # 949-0555
,JUL-21-00 16:19 FROM: ID:9709263994 PAGE 4/6
Town of Vail Proposal Page 2
Among local residents in Eagle CounW,..
The of l D"'afly" reaches 8,200"
or adults daily than 'Its
crest newspaper competitor,,
Eagle County
Adults by newspapers read Total %
(average issue): Adults Nmt.
ilm Vasil Daily 13,500 62%
The Daily Trail 5,300 25%
Adults in market: - 21,600 100%0
Adults by newspapers read (average issue):
14,00 13,50
Total Adults
LE I
12,00
10,00
S,UU
G,00 5,30
4,00
s.
2,00
r~
0
The Vail Daily The Daily Trail.
Source: CDs, 1998.
A v<•xsxo.
~~b. 1 ~Y1SS' fe. .M]2a.,.at..vs.A.a}~
JUL-21-00 16:21 FROM: ID:9709263964 PAGE 6/6
j Town of Vail Proposal Page 2
9
Among local residents in Eagle County..:
'The Vas Daily is rated. the most
believa le advertising source.
Eagle County
alts by most believable Total %
a ver isiung source: Adults Mkt,
Vail Daily 10,500 57%
"Mellow Pages . 3,600 19%
1,300 7 /0
adio 1,100 6%
Eagle_ County Enterprise 800 4%
Vail Trail 300 2%
Daily Trail . . - 300 1%
Local Magazines :300 1%
Vail 'V'alley 'r'imes 100 1%
Vail--Beaver Creek Catalogue 100 1%
The Guide 100 0%
What to do 100 0%u
Vail.'V'alley Magazine 100 0%
Ad sources mentioned: 18,600 100%
I
Scnarce: CDS,1998.
-
d z
Town Council Contingency 2000
Through July 28, 2000
Budget 50,000
Expenditures:
Organizational Development & Travel 8,905
Weekly Advertising - 6 months 2,184
PC for Town council 1,465
Total Expenditures 12,554
Balance Left 37,44611
ORDINANCE No. 19
Series of 2000
AN ORDINANCE SUBMITTING TO THE REGISTERED ELECTORS OF THE
TOWN OF THE TOWN OF VAIL AT THE COORDINATED GENERAL
ELECTION TO BE HELD ON TUESDAY, THE 7t" DAY OF NOVEMBER, 2000,
THE QUESTION OF WHETHER THE TOWN OF VAIL SHOULD DE
AUTHORIZED TO COLLECT, KEEP AND EXPEND ALL REVENUES IT
RECEIVES FROM ITS PROPERTY TAX LEVY IN 2000 AND EACH YEAR
THEREAFTER AS A PROPERTY TAX REVENUE CHANGE PURSUANT TO
ARTICLE X, SECTION 20 OF THE COLORADO CONSTITUTION PROVIDED
THAT NOTHING IN THIS QUESTION AUTHORIZES THE TOWN TO
INCREASE ITS RATE OF LEVY WITHOUT PRIOR VOTER APPROVAL;
AUTHORIZING THE TOWN COUNCIL TO ADOPT ANNUAL BUDGETS AND
ADMENDMENTS THERETO TO IMPLEMENT THE APPROVAL OF THIS
REFERRED MEASURE; SETTING FORTH THE BALLOT TITLE; PROVIDING
FOR NOTICE OF THE ELECTION; PROVIDING FOR CONDUCT OF THE
ELECTION; PROVIDING FURTHER DETAILS IN RELATION TO THE
FOREGOING.
WHEREAS, Article X, Section 20 of the Colorado Constitution, authorizes
the Town of Vail to refer the question herein submitted to a vote of the registered
electors of the Town of Vail as a "revenue change"; and
WHEREAS, Article X, Section 20 of the Colorado Constitution, requires
that the Town of Vail will continue to be subject to receiving voter approval from
Town of Vail registered voters to add new taxes and tax rate increases or to
increase Town of Vail debt which requirements are not affected by this question;
and
WHEREAS, Article X, Section 20 of the Colorado Constitution, requires
that real estate transfer tax cannot be created or raised and that election
requirements must be met, which restrictions and requirements are not affected
by this question; and
WHEREAS, on November 7, 2000, the Town of Vail will provide a ballot
question in conjunction with the Eagle County Coordinated General Election; and
WHEREAS, the Town of Vail is of the opinion that it is in the best interest
of the citizens of the Town of Vail that the full revenues it receives from its
property tax levy during 2000 and each subsequent year pursuant to its existing
tax code without any increase in said tax rates should be collected by the Town
not withstanding the limitations of Article X, Section 20 of the Colorado
Constitution and spent for debt service, municipal operations, and capital
projects; and
t
WHEREAS, the Town Council is of the opinion that such question should
properly be decided by the registered electors of the Town of Vail,
NOW, THEREFORE, be it ordained by the Town Council of the Town of
Vail, Colorado:
. SECTION 1. At the Eagle County coordinated general election to be held
in the various precincts and at the polling places of the Town of Vail on Tuesday,
the 7th day of November, 2000 between the hours of 7:00 A.M. and 7:00 P.M.,
there shall be submitted to the vote of the registered electors of the Town of Vail
the question herein authorized.
SECTION 2. At the said election, the official ballot, including absentee
ballots, shall state the substance of the question to be voted upon and so stated
shall constitute the ballot title, designation and submission clause, and each
registered elector voting at the election shall indicate his or her choice on the
question submitted, which shall be in the following form:
QUESTION NO. I
SHALL THE TOWN OF VAIL RE AUTHORIZED TO
COLLECT, KEEP AND EXPEND ALL REVENUES IT
RECEIVES FROM ITS PROPERTY TAX LEVY IN 2000 AND
EACH YEAR THEREAFTER AS A PROPERTY TAX
REVENUE CHANGE PURSUANT TO ARTICLE X, SECTION
20 OF THE COLORADO CONSTITUTION PROVIDED THAT
NOTHING IN THIS QUESTION AUTHORIZES THE TOWN TO
INCREASE ITS RATE OF LEVY WITHOUT PRIOR VOTER
APPROVAL?
FOR THE MEASURE AGAINST THE MEASURE
SECTION 3. If a majority of all the votes cast at the election shall be for
the measure, the measure shall be deemed passed, and the Town of Vail shall
be authorized to collect and expend the full revenues in accordance with the
approved measure and to budget and appropriate such revenues and
expenditures apart from any other expenditure of the Town which may be limited
pursuant to Article X, Section 20 of the Colorado Constitution and
notwithstanding the passage of any other State of Colorado initiative limiting such
collection or expenditure, and the revenues authorized for expenditure by the
passage of this measure shall not be counted in any such expenditure limitation.
2
. SECTION 4. The election shall be conducted under the provisions of the
Charter and ordinances of the Town of Vail and, to the extent applicable, under
the provisions of the Colorado Municipal Election Code as set forth in Title 31,
Article 10 of the Colorado Revised 'Statues (C.R.S.) and Title 1 (Colorado
Election Code) of the Colorado Revised Statues (C.R.S.).
SECTION 5. The Eagle County Clerk and Recorder shall give public
notice of the election on the question hereby submitted (a) by causing the notice
to be published in The Eagle Valley Enterprises (and the Town Clerk of the Town
of Vail will publish the notice in The Vail Trail) as provided by law, (b) by mailing
to "all registered voters" at each address of record within the Town of Vail at
which a voter is registered no later than twenty five (25) days before the election
a notice entitled "Notice of Election on a Referred Measure". This notice shall
include only: (1) the election date and hours for voting, (2) the ballot title, (3) the
text of the measure to be voted upon, (4) the office address and telephone
number of the Eagle County Clerk and Recorder, and (5) two (2) summaries, not
more than five hundred (500) words each, one (1) for and one (1) against the
measure, of written comments filed with the Vail Town Clerk no later than forty-
five (45) days before the election. No summary shall mention names of persons
or private groups, nor any endorsements of or resolutions against the measure to
be voted upon. The Vail Town Clerk shall maintain on file and accurately
summarize all relevant written comments.
SECTION 6. The officers of the Town of Vail are authorized and directed
to take all action necessary or appropriate to effectuate the provisions of this
ordinance.
SECTION 7. The Town Council finds and declares that this ordinance is a
matter of local concern pursuant to Article XX, Section 6 of the Constitution of the
State of Colorado.
SECTION 8. 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 this ordinance; and the Town
3
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.
SECTION 9. 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.
SECTION 10. The repeal or the repeal and enactment of any provision of
the Municipal Code of the Town of Vail 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 proceedings as commenced under or by virtue of the provision repealed
or repealed and reenacted. The repeal of any provision hereby shall not revive
any provision or any ordinance previously repealed or superseded unless
expressly stated herein.
SECTION 11. All bylaws, orders, resolutions, and ordinances, or parts
thereof, inconsistent herewith are 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, theretofore repealed.
INTRODUCED, READ, APPROVED, AND ORDERED PUBLISHED
ONCE IN FULL ON FIRST READING this 1st day of August, 2000, and a public
hearing shall be held on this Ordinance on the 15th day of August, 2000, at 7:00
P.M. in the Council Chambers of the Vail Municipal Building, Vail, Colorado.
Ludwig Kurz, Town Mayor
ATTEST:
Lorelei Donaldson, Town Clerk
READ AND APPROVED ON SECOND READING AND ORDERED
PUBLISHED in full this 15th day of August, 2000.
4
Ludwig Kurz, Town Mayor
ATTEST:
Lorelei Donaldson, Town Clerk
5
4 _
To: Vail Town Council
From: Russ Forrest
Date: August 1, 2000
Subject Community Facilities Process Update
INTRODUCTION:
On July 18th, the Town Council decided to eliminate alternative 3 from further consideration
and staff will focus future design efforts on some variation of alternative 2. Council also
asked that additional time be given to consider whether a hotel should be further considered
as part of the project and whether the Town Council should move forward with an election in
2000 for the- community facilities project.
SUMMARY OF COUNCIL DECISIONS TO-DATE:
On September 21, 1999; November 16, 1999; and on March 14, 2000 the Town
Council affirmed the list of public uses that would be considered. further, primarily a
2"d sheet of ice, a family activity center, learning/meeting center,, and affordable
housing.
On July 18th the Town Council eliminated alternative 3 from further consideration.
o On July 25th, the Town Council directed staff to move forward with contract
negotiations with the White River Institute to assist in the development of a fund
raising campaign for all the public uses and to also help refine the concept of a
"learning center."
ISSUES FOR COUNCIL'S CONSIDERATION
There are three issues outlined in this memo for the Council's consideration. Staff would
appreciate input on the first two issues outlined below at the August 1St hearing. If the
Council would like to move forward with a 2001 election, then the third issue can be
deferred to the next Council meeting.
1. DOES THE COUNCIL WANT TO CONTINUE TO CONSIDER A HOTEL ON
THE SITE?
The purpose of looking at a hotel as part of the community facility project was to:
- Ensure the greatest degree of success for the learning/meeting center
- Add vitality to the community hub
1
- Assist in financing the meeting center through a public/private corporation.
It was originally believed a hotel could pay the Town approximately $6
million in land costs. This was based on an industry standard of
$30,000/room in land value. However, based on running several pro
formas for a project the safest assumption is-that a hotel would not
significantly offset the cost of the public uses.
Pros and Cons for a hotel include:
Pros:
• A hotel will be successful on the site according to Economic Research
Associates market analysis.
• Projections indicate that 90,000 additional room nights will be generated from
the learning/meeting center and that only 39% of the room nights would b ' e
absorbed by a new hotel; 61 % of the room nights would be absorbed by
existing hotels, i.e. this would be a net gain of 8% for existing hotels.
• A hotel will make the learning/meeting center more successful and
marketable to meeting planners. Meeting planners prefer booking meetings
at locations that have a major hotel in close proximity to the meeting facility
that has good value.
• A hotel will add vitality, excitement and critical mass to the site.
• A private/public partnership could potentially be developed to finance the
hotel and the learning/meeting center.
• A new hotel with an average daily rate of under $200 would help provide
greater value to guests. Lodging value has been identified as a.critical issue
for Vail in national polls.
• Based on national polling, and Vail Resorts marketing, a value oriented hotel
would help increase total visitation to Vail.
Cons:
• A hotel will not generate significant revenue for public uses. In contrast,
dwelling units and/or fractional fee units will generate approximately
$400/square foot net revenue that could be applied to the public uses.
• Existing hotel business would,increase 15.3% with the creation of a learning
/meeting center without a new hotel. This compares to an 8% increase with a
hotel and learning/meeting center.
• A hotel may dilute the public purpose of the facilities.
• If you don't have large-conferences in the winter months, the demand for a
new hotel is greatly diminished. In addition, if existing hotels are willing to
.release rooms in the`winter and in peak summer months at competitive rates
the need for a new hotel is diminished. Right now our larger hotels want to
retain a percentage of their rooms in the winter and peak summer times for
free and independent travelers which can make meeting planning for large
groups very difficult. We are determining if there is any likelihood that hotels
will change this practice.
• Creates additional parking demand.
• Some say this is an inappropriate use of public land.,
2
Another' consideration is that 1 - 2 existing hotel properties in close proximity to the
project site may be considering redevelopment and adding rooms. Redevelopment of
existing properties and'adding rooms could address the market need identified in the
ERA study. Further discussions are needed to determine whether partnerships could be
developed to provide additional commitable rooms for meetings and other large
functions. In the event that Council does not support a hotel on the project site, staff
would recommend the following:
Direct staff to foster the redevelopment and enhancement of existing hotel
properties near the project site.
Work with VVTCB to encourage existing hotels to commit rooms at a
competitive price for meetings and functions.
When refining the design for the project site, identify phasing plans that could
allow the expansion of the meeting center and a future hotel if the market
demonstrated in the future that a hotel was necessary to make the meeting
center operate successfully.
2. HOW DOES THE COUNCIL WANT TO MOVE FORWARD WITH AN
ELECTION?
The Vail Recreation District has clarified its mission and has determined it will operate
recreational facilities but will not build facilities. Therefore, the Town of Vail will need to
finance the capital costs for all the facilities and/or develop public/private partnerships to
develop those uses. Developing public/private partnerships has been an objective of
this project. Based on the economic analysis, it may be possible to build the public uses
without public funding (aside from the value of the land which the Town will retain
ownership of) (See Attachment 1). The potential private sources of funding could
include:
0 Corporate/private sponsorship
Public/private partnerships
Sale of parking spaces
Sale of dwelling units or fractional fee units
Revenue from a hotel (relatively minor contribution compared to dwelling and
fractional fee units)
The potential public sources of revenue include:
Generate $10-$15 million in revenue from an increase in property tax.
Generating $10 million would require a 2-mil increase in property tax and $15
million would require a 3-mil increase. This would also require a public vote to
raise taxes.
Issue bonds based on a debt service paid by existing capital funds. A $2
million per year debt service payment would finance $20 million in
improvements. Staff would suggest caution in using existing funds in that
there is a significant need for capital improvements, particularly in Lionshead.
This would require a public vote to issue debt unless lease purchase
financing was pursued.
3
r
The total cost of the public uses based on alternative 2 is approximately $65 million. We
could take the next year to implement a fund raising campaign (after a specific site plan
is chosen). Then, in 2001, determine whether and how to move forward with a public
vote. It would be possible to do a non-binding referendum (at any time in the year) to
determine if the public supported the final concept. If private fund raising fell short, then
a binding public vote would also be possible in November of 2001. By moving the vote
to 2001, we will be able to allow for adequate time to come to a decision on the
site plan and the architecture, refine the concepts and create greater community
buy-in, and to initiate a fund-raising campaign. Staff believes that pursuing a 2000
ballot issue is a significant risk. It should also be noted that there would only be
approximately 30 days (after 2nd reading of an ordinance to approve a ballot issue) to
communicate a message to the public given that mail-in ballots will begin on October 1s',
2000. The greatest likelihood of success in a ballot will come by providing adequate time
to refine both the concept and design. Alternative schedules for a 2000 and a 2001
election are provided below. Given that one year of fund raising was anticipated, it
would not drastically delay the project to look at a 2001 ballot issue (if a public vote is
necessary).
Proposed Schedule for a November 2000 Election
Action Time Frame Who
Determine whether a hotel August 1s' Town Council
will be considered further.
Determine basic site plan August 1s' Town Council
to work from and agree to
the general public and
private uses
V" Reading of an August 15, 2000 Town Council
Ordinance for a ballot
Initiative
2nd Reading of an September 5'h (last Town Council
Ordinance for a ballot possible date).
initiative (ballot language
is set)
Refine the learning Center August 1s' - September 8'h Community, CMC, White
Concept River Institute, & other
community interests
Approve of the refined September 12'h Town Council
concept plan for the
learning center and other
uses
Refine Design and cost Se~tember 13'h- September Design Team.
estimates 29'
Mail-in Ballots are October 1, 2000 Voters
available
r
4
Public Meeting on refined October Staff and Design Team
design & small group
meetings with adjacent
property owners
3rd party implements August 1s' - November 1s' Citizens for a Community
campaign for the facility Renaissance- 501 c (4)
(TOV not financially
involved)
Election on November 5th November 5, 2000 Registered Voters
Fund Raising for all,public September 8, 2000-Fall The Renaissance
facilities 12001 Foundation 501 c (3)
Prooosed Schedule for a 2001 Election
Action Time Frame Who
Determine whether a hotel August 1s' Town Council
will be considered further
and authorize money for
the next step in the design
process.
Refine the learning Center August 15' - October 10" White River Institute
Concept, develop an working with community
operational plan, groups, CMC, and other not
determine name, and for profit groups
develop grass roots
support for the concept
Approve of the concept October 10'h and/or 17'h Town Council
and operational plan for
the learning center and
other uses
Refine design and cost October 18'h- November Design Team
estimates. Work with 29th
adjacent property owners
to address specific
concerns. Refine parking
plan
Public Meetings on December Public
Refined site plan and
designs
PEC, DRB, and Town December or January 2001 PEC, DRB, & Town Council
Council Review of
Designs
1" Reading of an August 2001 Town Council
Ordinance for a ballot
initiative
5
,
i.
2nd Reading of an August 2001 Town Council
Ordinance for a ballot
initiative (ballot language
is set)
Fund Raising for all public I September 8, 2000-Fall The Renaissance
facilities 2001 Foundation 501 c (3)
The most critical question in determining whether to move forward with a 2000 election versus a
2001 election is whether the Town Council can quickly come to consensus on the public and
private uses to be considered. The following is a summary of those uses that have been
considered:
Public uses:
• Learning/Meeting Center
- 20,000 square foot meeting space that can be converted into
seating for special events and performances
- 12,000-16,000 square feet for breakout space
- 11,000-15,000 square feet of space for dedicated
meeting/class rooms for learning functions (CIVIC, VVF, WRI,
TOV-Library)
- Technology Room (i.e., an internet/computer room which
could be an extension of the library and also booked for uses
as classroom space
- 250 seat theatre for community theatre, small performances,
and lectures
® 2"d Sheet of Ice
• Family Activity Center
® Housing (25,000 square feet)
Private Uses:
• Fractional Fee or Dwelling units to generate revenue for thE! public
uses
• Hotel
3. ADDITIONAL INFORMATION/ARCHITECTURAL WORK
If Council wants to look at a 2001 election time-frame then this item can be deferred to
the next worksession. The scope of service for EDAW has essentially been completed.
The basic purpose of the contract with EDAW was to develop alternative site plans.
The next step from a design standpoint is to refine the site plan and develop
architectural sketch plans. Also architectural renderings for any of the alternatives will be
valuable in gaining support for a particular concept. Another critical question is whether
the Council wants to add an additional architect to the design team. On May 23`d
Council indicated that this was not necessary. As you recall, staff did provide portfolios
on several other design firms. Specific actions that need to occur after a general site
plan is chosen include:
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1. Refine the ideas, particularly the learning center using focus groups. This
work has already been initiated.
2. Survey and geotechnical work
3. Additional parking analysis
4. Refining the site plan based on Council direction
5. Developing an architectural sketch plan
6. Additional public meetings to seek public input on the refined site plan
7. Fund raising
The Town Council will need to determine whether to move forward with the next steps in
the design process and whether to authorize a supplemental appropriation to pay for the
next steps. The following is an estimate of the costs for the next steps.
Proposed Budaet
Action Estimated Cost
Refine the Site Plan and develop $140,000 (includes site planning, 3-D
architectural sketch plans modeling, architectural sketch plans,
economic analysis.
Agreement with the White River Institute $50,000 from both the Town of Vail and
to assist with refining the learning center other entities plus $50,000 as a
concept and to assist with fund raising percentage of the funds raised for the
facilities. (Staff is negotiating this contract
and will bring it back to Council for your
approval)
Survey and geotechnical work Already. budgeted in 2000
Public Meetings and Communication with $15,000
Residents
Additional parking analysis $4,000
CRITICAL DECISION POINTS
If Council chooses to pursue a 2001 election, staff would recommend that the following
are critical decision points after the August 1 st hearing:
Confirm that the major public and private uses are acceptable to explore further
(August 8th & August 15th)
Approve resources and the approach for moving forward on refining the design and
architecture (August 8th & August 15th
Approve, modify, or disapprove of a contract with the White River Institute to assist
with fund raising and refining the learning center concept and how it is integrated
with the other uses (August 8th & August 15th )
After the uses are refined and an operational plan is developed, Council will need to
approve of that operational plan (October 10 tentative)
Council, DRB, & PEC review of refined designs (January 2001).
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ATTACHMENT 1
C..a n, n unity. Facility Costs & Revenue Su o.. my
(lased on Air, i uzLve 2)
Reveres Assu ~ "ons Sq Feet Value !Votes
Rbic Funding Na $10-30 nil * see note at bottom
Private Fund Raising Na $20-30 mil
Sale of Parlang Sp=.cs Na $0-$7 rril
Fractional or Time
Sale of DAdling Lht orTirre Share 43,000 $17-$35 rril, Share
Total $47-$102 rril
costs Value (includes Parldrig)
Leaming/rreebng Center 80000 $ 42,000,000
Ice 26400 $ 8,000,000
Family Entertain 21350 $ 8,600,000 Includes skatepark
Punic Raza 38000 $ 2,200,000
Interior Public Circulation '33000 $ 3,876,000
ELionshead Orde 45000 $ 1,300,000
Total 65 976 000
$10 Million of public funding assumes a 2-mil increase in property tax. A $30 million
commitment of public funding assumes a 2 mil increase in property tax (which
generates $10 million) plus a $2 million a year debt service payment from the capital
fund (which would generate $20 million). Paying additional debt service from the
capital fund could severely impact other needed public projects for Lionshead and
Vail Villages.
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