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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 ee 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: 6 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). 7 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. F:\cdev\COUNCIL\MEMOS\00\COM801.doc 8